THE UNTHINKABLE Is Happening to GOLD – But SILVER’s Collapse STUNNED the Market | Andy Schectman

Just in the month of May, Adam, we've seen a 700% spike in gold delivery from last year. We've seen the largest delivery in the history of the COMEX market. The biggest money in the world has been using any sign of weakness to stand for delivery. 60 million ounces of silver on paper were dumped in one hour last week when the price got smashed. This is about to blow up the whole market. There is no more buying allowed, only sell only. Now, imagine what happens if it was the US government bringing back that gold. A new monetary system implemented within this administration, a new Bretton Woods, he said. That's strength and resilience that I have never seen in 35 years. I think the best of what we could expect to see in gold prices is still, and silver, is still way, way in front of us. It's the largest debtor nation in the world selling its debt to the second largest and the two most indebted nations in the world buying each other's debt with freshly created money is just kind of silly to me. It's a sign of desperation, maybe to cover physically. Gold has had a little bit of a price correction, but it is remaining strong here. And the miners have caught up a bit to gold this year. They still have further to go if historical ratios hold. But silver has been kind of dancing here in between 32 and 35, looking like it's just getting ready for that breakout. And we talked about kind of the precious metals complex is moving like a whip. The gold handle moves first, then the miners move after, and they move further. But then the silver as the tip moves the furthest, the fastest. But let's set that aside as a teaser as much as I want to start there. So I guess first, we got a number of topics we want to get into. But I guess first, let me just ask you a broad question, which is, you know, we thought that gold was going to have some sort of pullback because it had risen so far so fast. It got up to about $3,500 an ounce, certainly did on the futures markets. And I think maybe briefly it got there on spot. You would know better than I. Why is no one warning retirees that this correction isn't just normal market behavior? It's a battleground. This isn't just a friendly tug of war between buyers and sellers. It's a fight for survival between truth and manipulation. Gold didn't rise too far too fast. It escaped. It broke through the paper ceiling Wall Street's been hammering down for years. Now that it hit $3,500, suddenly it's a healthy pullback? No. That's the system panicking. Silver's winding up like a coiled spring. And the miners, the canaries in the coal mine, are finally breathing. But the real tell? They're stalling the conversation. They don't want you staring at silver's fuse. They want you focused on the wrong thing while the real explosion loads in the background. Stick around. Because what gets said next? It's the kind of truth they usually bury in footnotes in closed-door meetings. OK, it did. And then we saw it got kind of beaten down into the lower $3,000s. Today and the day we're talking, had a strong day yesterday. It's up above 3,300 an ounce again today. So what do you think here? Has the pullback largely been over? And is this sort of a healthy correction? Do the fundamentals still look good for the gold price going forward from here? Honestly, I don't think they've ever looked better. I mean, just in the month of May, Adam, we've seen a 700% spike in gold delivery from last year, same time. And which is, May's usually a quiet month for gold. We've seen the largest delivery in the history of the COMAX market. Last I looked, it was over 16,000 contracts at 100 ounces apiece. People are, institutions, whoever the heck it is, U.S. government, Treasury itself, I don't know. They're standing for delivery at a level nobody has ever witnessed before. 700% spike and you still think this is normal? Are you out of your mind? This isn't a correction. It's a stampede. Institutions are breaking down the vault doors to take physical gold. You think they're doing that for fun? No, they're doing it because they know something's coming. This is the largest delivery in COMAX history in May, the dead season. That's not business as usual. That's a five alarm fire. And while the media tells you gold fell back to the low 3000s, they're hiding what's really going on behind the scenes. Someone big, maybe even the government, is yanking the real metal off the shelves. You think it ends there? Oh no. The next part, that's where they start naming names. 16,000 contracts, Adam, is $5.3 billion worth of gold. Wow. The largest delivery in the history of the COMAX market, not just in gold, but also in silver too. So there's a huge demand for physical holding of gold and silver. And you look at, you know, the gold price that gets knocked down by 200 bucks, $100 for two days in a row nearly, and it shoots right back up. That's strength and resilience that I have never seen in 35 years. So to me, the physical demand is overwhelming the paper price. And this is, you know, I was reading something on X the other day, a comment, if you will, between Vince Lancey and Luke Grohman. And, you know, Luke said, now imagine what happens if it was the US government bringing back that gold. Ask yourself, who pulls $5.3 billion in metal off the table while pretending everything's fine? That's not investors. That's power players. That's sovereign hands moving pieces off the board. COMEX isn't just creaking. It's cracking. The price tanks $200 and then rockets back up. That's not natural volatility. That's someone trying to suppress the price and failing. The paper price is losing the war to physical demand and fast. And now you've got Luke Grohman hinting that the US government might be behind it. Oh, it's not a hint. It's a whistleblast. Next up, they name names. And it's not just theories anymore. And the response to all the commercial banks is they were basically saying that there was it almost looked like a sell only market, that they were a coordinated fashion, that they got together with the managed money and said this is about to blow up the whole market. There is no more buying allowed, only sell only. And that's what he was intimating. And he says in response to the above from the US government is FU, he says. Send us more gold next month, too, and more behind for July, August and September. And Vince Lancey says it was Luke. It was no ifs, ands or buts. You know it. Bullion banks to cover the Treasury calling it back or the Department of Treasury itself. It most certainly was. Now, these are two of the smartest guys in the world. And basically what they're saying is that the US government bringing all this gold back in. Only sell? You mean to tell me the market was rigged to let prices fall and not one mainstream outlet screamed? This is financial warfare. The banks, the funds, they all circled the wagons and shut down the buy side. That's not a market. That's a setup. And the response from the government? Not panic. Not denial. Just one giant middle finger. Send us more gold. July, August, September. They're stacking like it's DEF CON 1. And if Vince and Luke are right, if this really is Treasury pulling strings to get physical metal while choking the public's access, then we've crossed the line into open, coordinated manipulation. But wait until you see the receipts in the next clip. They're done hiding. And if you look month over month over month over month. In fact, let me, if you don't mind, just share one thing with you. Absolutely. This is just the month over month increase in since last year. You can see that COMEX Gold delivery. This is not something that is just an outlier in one month. Month over month over month over month over month. And really, this goes back to November. So when you talk about where we are, I would just simply say the biggest money in the world has been using any sign of weakness to stand for delivery and to accumulate more. And the price keeps going higher and higher and higher. It's not just here. You look at what's happening even in China, too. And the numbers are off the charts in China. I think they bought the amount of gold that they just bought was an 11 month high this last month. How many months in a row do they need to steal the vault before you realize this is a run on the system? The biggest money on Earth, the old money, the state money, the survival money. They've been buying every single dip. They're not trading. They're preparing. This isn't a market signal. It's a lifeboat scramble. The elites are quietly offloading risk, loading up on hard assets and building their firewall for whatever storm's coming next. And China? They're not just buying. They're stockpiling like they've read the last chapter. You think it's over? Not even close. The next line reveals just how far we've fallen and who let it happen. So yeah, I think the best of what we could expect to see in gold prices is still and silver is still way, way in front of us. It's still to come. OK, so I'm just going to pull this back up for a second, Andy. So if we were looking at the same table a year ago, so in mid-2024, what kind of percent changes would we have seen? Do you know that off the top of your head? I don't know it off the top of my head, but I would think it would be minuscule at best. Like single digits? Not even. I mean, maybe even the other way. Probably the other way, if I had to guess. Net exporter would be my guess because, you know, the previous administration had, you know, had no affinity to bringing gold in into the COMEX, certainly. So it would have only been trader based. Minuscule last year. Explosive this year. Ask yourself, what changed? This isn't just about market cycles. This is about panic. You don't go from net exporter to record setting importer unless you've seen the writing on the and it's written in red. The old regime didn't care about gold because they thought the dollar was untouchable. This new wave, they're hoarding it like the lifeboats are already dropping. And if they're doing that, why aren't you? Don't move a muscle because what's coming next connects all the dots. This is something different. And this really happened since November of 2024. So I don't know for sure. But if I were betting in Vegas, I would say it was almost inverse of what we're seeing here. Certainly not what we're seeing on this chart. So I don't know. But I would be way, way, way different than it is here. So basically, we're seeing a very marked increase year over year. And that increase keeps gaining month over month so far this year. Just for folks that would say, hey, Andy, you can't really look at the May and April numbers because they're so polluted by people trying to front run tariffs and stuff like that. What would your answer be? Why does it always take a crisis before anyone starts paying attention? This isn't some seasonal blip. And it's sure as hell not about tariffs. We're watching something move under the surface. And they're brushing it off like it's just business as usual. Month over month increases, sharp year over year jumps. That's not noise. That's a signal. And they want to blame tariffs? Please. That's the same distraction game they've been playing for decades. Pretend it's temporary. Make you doubt your own gut. No. Something broke in November. And it hasn't stopped cracking since. And if you think it's just market noise, wait till you see what comes next. It doesn't just flip the chart. It flips the entire game. That this has nothing to do with tariffs. The conventional wisdom was that it was tariffs and arbitrage. OK, there's a little bit of that. That's fine. But this is far different. That's the cover, if you ask me. You put it in context, for example, with President Trump's tweet on Easter Sunday, the golden rule of negotiating. He who has the gold makes the rules. That's interesting. You put it in context with Treasury Secretary Besent, who is a self-proclaimed gold bug, and whose largest holding in his last job running a hedge fund was in gold, that there would be a new monetary system implemented within this administration. A new Bretton Woods, he said. You ever wonder why they always throw the word tariffs around when they want you to stop digging deeper? That's not analysis. That's a smokescreen. You think it's coincidence that the same administration talking about a new Bretton Woods just happens to be stacked with gold bugs? Come on. These aren't soundbites. They're signals. That Easter tweet? It wasn't a joke. It was a warning. He who has the gold makes the rules. And guess what? The rules are about to change. And the public won't get the memo until it's too late. You think tariffs are your biggest problem? Wait till you find out what's being rewritten behind closed doors. So, you know, when you put all of these things together, you know, you've done an interview with Judy Shelton. We've talked about that. Her idea of backing treasuries with gold. She told me. I don't know if she told you. But she told me flat out that Trump told her that he would issue gold-backed treasuries on July 4th next year. I did not hear that. That's actually really interesting. Okay. Which is the 250th year anniversary of the country. She told me that. That he told her that. Now, what does that mean? You know, maybe he changes his mind. But she's a very bright lady and more or less says that that's what she was hedging at. And so I think that there is something far more important happening with gold. Ask yourself, if they really plan to gold-back U.S. treasuries on the 250th birthday of America, why haven't you heard that shouted from the rooftops? That's not some fringe theory. That's a tectonic shift. It means the rules of the game would change overnight. It means everything from your savings account to your retirement fund gets revalued in real time. And if Judy Shelton is right, and she's no lightweight, then gold isn't just an asset anymore. It's a message, a lifeboat. And if they're planning this move quietly, you'd better believe it's not for your benefit. Stay sharp. Because what they're not saying, that's where the real story lives. Far more happening with gold. And, you know, you talk about like the smash in these markets. The silver smash, 60 million ounces of silver on paper were dumped in one hour last week. When the price got smashed, it's a sign of desperation. Maybe to cover physically. I don't know. Because here we are, the silver price is right back up. And I just think that this is something far different than the media is portraying. Certainly it's a lot more than tariffs. That I would bet just about anything against. 60 million ounces in one hour? Are you kidding me? That's not market mechanics. That's sabotage. That's manipulation on a scale so brazen they're daring you to notice. And the media? Silent. Why? Because calling it out means admitting the game is rigged. They want you distracted, docile, disbelieving. But this kind of volume doesn't come from investors. It comes from panic. Someone's trying to suppress the truth and silver just popped back up anyway. That's not normal. That's a warning shot. So buckle up. The next round? It's not going to be just paper. OK. And if you have easy access to that data, we can look at it next month and see if the trend continues. And presumably, you know, the tariff situation has gotten better. I mean, it's still out there for sure. But a lot of this bullion is coming from London, right? The vaults in London? Yeah. And we've struck a trade deal with the UK. So if there's one country that we've got some resolution on tariff-wise, it's the UK. And so theoretically, I would think that wouldn't manifest in higher numbers next month if tariffs were playing a role here, which you don't think they are. You really think a UK trade deal is going to fix this? Come on. That's the window dressing. London vaults don't just open up because tariffs got tweaked. Bullion moves when confidence dies. This isn't about diplomatic niceties. It's about systemic rot. They're playing musical chairs with gold bars while pretending the music hasn't stopped. And if the numbers keep climbing next month, you'll know why. Because when capital runs scared, it doesn't care about trade deals. It cares about survival. No, I really don't. And you think about this, you know, this trade deal. It's like it's two drunk guys holding each other up from falling. It's the largest debtor nation in the world selling its debt to the second largest. It's silly, almost. It truly is, as far as I'm concerned. When you think about it, to put any stock in that to me is just smoking. Sorry, your analogy there, the drunk holding up the other drunk, it's the US holding up China, right? And vice versa. Those are the two. No, I mean, no, I mean, it's the UK and the United States, the two most indebted nations, you know, that are buying each other's debt is really what it is. Ask yourself, if two broke men are lending each other money, who's actually stable here? This isn't a recovery. It's an illusion, a facade held up by IOUs and freshly printed promises. The UK and the US propping each other up like drunks outside a bar. That's not global strength. That's global dependency. And when the debt bubble finally bursts, you think they'll catch you when you fall? No, they'll be too busy trying to save themselves. That's why gold matters. Because when trust collapses, only truth and tangible value survive. And I guess I should have rephrased it a different way. That's OK. What you're saying is true. At the same time, the United Kingdom, right as they made that announcement, has surpassed China in the second largest holder of our treasury debt. So they're continuing to buy our debt as we buddy up. They're now number two as China has slid to number three. So it's the two of us are holding each other up. And the two most indebted nations in the world buying each other's debt with freshly created money is just kind of silly to me. OK. Yeah, I think it's a reason why you encourage people to own gold. And it's one of the reasons why a lot of people watching here right now hold gold as well. So let me get this straight. The UK just leapfrogged China to become our biggest creditor buddy. And we're supposed to celebrate that? This is a clown show. The two most bankrupt nations on Earth playing pass the bomb with each other's debt? Using monopoly money? And the media calls it economic diplomacy? No, it's a slow motion collapse dressed up in suits and press conferences. That's why people are buying gold. Not for growth, but for defense. Because when the paper burns, the truth is all that's left.