🚨 FAKE Buffett AI “DUMP GOLD!” – TIME TO BUY! They Want YOUR Money

Something strange is happening online. Identical deepfake videos claiming to be Warren Buffett are flooding platforms, all delivering the same urgent message. You got to get out of gold. But none of it is real. They're all AI generated, and yet some investors are now falling for them. So who's behind this coordinated attack and why now? Well, gold's been under pressure, yet it's refusing to collapse, holding key levels while stocks, bonds and crypto swing wildly. So is this market noise or a coordinated signal? Here to break all this down for us, please welcome back to the show, Todd Babahorowitz. Baba, so good to be with you. Always great to be with you, Dani. I always love coming on with you. Look, and we have a lot of ground to cover. We're going to start with this deepfakes, but obviously we just have a CPI out now. We have a Fed meeting that's coming up next week. We're bringing up this coordinated attack that we're seeing. And if I may, I just want to share with you, Baba, a personal note I received from Frank Giustra, obviously one of the most vocal voices in the gold industry. He knew we were doing this interview and he said, please share this with the audience because he truly believes this is a coordinated attack on gold by the crypto people. Or I don't know, maybe something even deeper. He says, quote, the sudden pump Bitcoin dump gold coordinated campaign that started last weekend was a desperate attempt by the BTC maxi crowd to keep alive the narrative that Bitcoin was the better equivalent of gold at a time when gold was going through the roof. It was so obviously transparent and amateurish. It was almost funny to watch. Predictably, it failed and should be seen as an embarrassment to those Bitcoin whales behind it. Recycling old clips of every Bitcoin promoter known to mankind, making wild price predictions and most egregiously the creation of AI generated videos using the likes of Warren Buffett warning about holding gold would land certain people in if this were a regulated market. Call me a cynic, but I would rather buy an asset class that has been quietly and at times covertly accumulated by those that truly have the power rather than one that's being shamelessly hyped and promoted like a penny stock pump and dump campaign. Thoughts, Baba? Well, I'm sure. First of all, we know that all this AI crap is fake and they create a lot of these ads and they create a lot of these statements and they mimic they've done for the president. They've done it for Warren Buffett. Now, you know, listen, we went through this. If you remember Wall Street bets, right? They went through this with silver years ago. They tried to pump down silver and talked about, you know, because they try to create these gigantic short squeezes. And again, gold itself was going to sell off a little bit. Anyways, this video has nothing to do with it. And I don't think that gold investors are crypto investors and they're not going to switch. I think you got gold to a point that it was so overbought that it needed a pullback. We got a pullback. So what? It came down seven or 8% from its highs. The garbage that is out there, the unfortunate part of the artificial intelligence that they can create these fake videos, all they are trying to do is manipulate the market for their own personal gain. Okay. So you can have, listen, it could have been, let's say it was the central banks who have been a buyer of gold. They want to buy it cheaper. So they put out this statement. Again, I'm not saying anybody who did it, I have no idea who did it, but definitely it was done with a purpose. We all know that when there's money involved, people are going to do, the charlatans are going to do what they can do to try to create a better opportunity for themselves. This is criminal. They do belong in jail. They have destroyed a lot of people's wealth, even with this little bit of move, because a lot of people invest a lot of their percentage of their portfolio and we're buying at the $4,400 level in gold, and they might not be able to hold it. So this is a criminal event that has to be stopped, but this is the problem when you have artificial intelligence and you're pushing it without really figuring out the true power of what it is. Yeah. I mean, look, the numbers speak for themselves. Year to date, the gold price is up, as we're speaking around 56%, Bitcoin up around 16%. What a difference from 2024, Baba, where Bitcoin was up 121% versus gold 27%. So perhaps it was some jealous Bitcoin folks who decided that, look, we really got to go after the gold crowd here. But I think you're right. I think the diehard gold investors don't budge, but it's those that maybe jumped on that FOMO train or whatnot that were like, oh, maybe I do need to get rid of my gold. It's the fringe investor. It's the investor that ran to Costco when they were selling gold bars to sell their gold. Anybody who understands the asset class of gold and the value of gold going into the future was not panicking and not selling their gold because of some stupid criminal AI video that was put out. Whoa, let's stop here for just a moment, because this is critical. When the next financial crisis hits, accounts will be locked just like 2008, and it will be too late to do anything about it. I've reported on global markets for over 20 years, and what's happening right now is unlike anything we've faced before. The window to act is closing fast, and the opportunity is now. That's why we've created the Private Wealth Playbook. It's free, and it shows you how to move into the proper gold and silver strategies proven to protect and grow wealth when everything else breaks down. Don't wait until after the crisis hits. Click below or go to dannyreport.com and download the Private Wealth Playbook right now. Now back to the show. Let's talk about the latest CPI report. It's cooler than expected. How do you think this will impact anything the Fed decides next week? Well, the Fed is a cartel of a bunch of ridiculous people that have no clue how a free market really works. It's amazing how well educated they are, and when they become members of the Fed, they become instant morons. You have a system that is not helping. Them cutting rates, which is probably what they're going to do, is not helping anybody. When you're in a K-shaped economy, which we are, which means that you're destroying the middle class. The wealthy are getting richer. The poor are getting poorer. The middle class is being wiped out. It depends on where you sit. Again, if you live in New York City, for example, if you don't make $150,000 a year, you're in poverty. At the end of the day, a rate cut is going to spike inflation. We're already seeing higher inflation from the last rate cut. What people do not understand is a rate cut does not necessarily benefit the borrower. It only benefits, for sure, the banks, because the Fed funds rate, when they cut it, that is the lending rate to the banks. It has nothing to do. They don't have to pass the savings on. So from the last rate cut, or we go back a year to the first time we started cutting rates again, only the banks have benefited. The 10-year notes are higher than they were a year ago, yet we're 150 basis points lower on the Fed funds rate. So they'll probably cut because that's what they do, and they do ridiculous things because unfortunately, they don't let the free market trade. True interest rates, if you go to the peer-to-peer lenders, are well north of 10%. Again, it's silly what they do. And just getting back to gold here, I mean, you obviously were not shaken or surprised by the pullback we had in gold, and now forecasts are kind of all over the place. I mean, we have some banks still forecasting 5,000 gold by November, others warning it could drop back to 3,600. Where do you fall? What's your gut telling you? Well, you know, as you and I talked last time, I thought we could get to 4,500 this year, and we did. Again, it's hard to read from where we are here. One of the problems we have is a lack of buy-in, but certainly neither would surprise me. A big rally, I mean, I wouldn't say by November, that's two weeks from now, but if we could get to 5,000 by the end of the year, is it possible? Yeah. I mean, we're up 56% this year. Another 20% or another 15% would not be shocking, okay? I think that there's a greater probability of a pullback, a continued pullback, and not because there's anything wrong with the gold. When markets get overbought, when people get overleveraged, when the FOMO finally wears off, people wonder where their capital is. It's like any other market. When they get overbought, they're normally going to pull back, and we're certainly, you know, we got to about five or six standard deviations away from the mean on gold, which is too far. It cannot exist at that pace of going up. There's not enough money to continue to support it. We just saw it in silver. Silver ran to $54 almost, all-time new high, and pulled right back to $49.48. Look, you expect pullbacks. You can't go into a market thinking that it's going to continue to go up. You get these big dramatic up moves, 56%, but at 70% in platinum and 80% in silver, there's going to be a pullback. Don't worry about it. Use that as a buying opportunity. Look, precious metals have not changed, and with central banks participating in buying them, that's telling you that we need to have that as part of everybody's portfolio. And to your point, central banks, just to put it down, like just to talk numbers, bought a record 1,037 tons of gold in 2024, and demand is still surging. You know, do you think we're going to keep seeing central banks buying, or do you think we'll get to a level where the price will settle? I think they're going to continue to buy for the foreseeable future, because what they're really telling you, Dani, is our paper money, our fiat currency globally, is worth toilet paper, okay? It is worth nothing. And that is hence the reason that they're accumulating hard assets, because hard assets hold value, and they're not a debt to the government. The government's not borrowing money. You're holding a physical asset. And that's what I think they're realizing, the damage that they've done with their, we're not going to call it money printing, their debt-creating, their inflation-creating policies, okay? So they're now collecting and accumulating more gold to help protect themselves. I wonder what the U.S. really has under their sleeve, what they're planning with gold. Any thoughts, Baba? Well, I don't know, but I know that Bessette would like to see something more of a gold standard, or a Bitcoin standard, or something, an underlying asset that controls the dollar, that values the dollar like we used to have before Bretton Woods. Again, I think one of the problems, and I think what we've seen in this country since the end of the gold standard has been not really, really good. I mean, you look at 1985, which is 10 years past Bretton Woods, but the average income was $25,000, average house was $75,000. Today, the average income is $70,000, and the average house is over $500,000. So the ratio is not good. The damage that they've done with the fiat currency system without any underlying asset has ballooned many asset classes out of control because people just trade the interest rate and the money. They're not really buying a house, they're buying the money, that it's a buy-them-on society. So I would suspect that central banks will continue to accumulate. And I would suspect that at some point, that Besant and Trump are going to try to get some kind of underlying asset to back the dollar. And just, you know, as we wrap, just tying this back to Buffett, because I do want to bring up that people will say, well, you know, what is true is that he has never been a fan of gold. We know this. He's called it unproductive because it doesn't generate cash flow like stocks or farms. So I guess, what do you say? And this goes back, I mean, when did he start saying this? Over 20 years ago. But like, what do you say to that? Well, look, again, Warren Buffett is a billionaire, okay? A multi-billionaire. He runs a big fund. He got lucky. He's a smart guy. I'm not a fan, but he's a smart guy, built a beautiful business. It's easy when you have that kind of money to say that you don't need any underlying asset to help protect. Gold is a great inflation hedge. Listen, you know, you see what's going on in New York and your city with the potential the new mayor. And, you know, again, we've seen what's going on with the presidencies over time. I mean, because it changes every four years. You may need gold and silver as a currency someday again. There could be another revolution. So not only has gold shown growth in history as it grinds higher and protects you against inflation, but what happens? What happens if it's a great asset class to hold? And I think everybody should have, you know, 5, 10, 15% of their money tied up with physical metals that they buy in real hard assets that they can put in their safe in a box or store somewhere. Not the paper crap that you buy, because I don't believe there's enough gold in the world to cover all the paper that's out there. And now I'm getting you fired up. Let's get you fired up more. You mentioned New York City, but we're seeing all these cities one by one, San Francisco, your hometown of Chicago. What's the state of Chicago, Bob? And how do you feel about it? Well, I'd like to say they should have the Chicago fire again and burn it to the ground. You know, look, they've done dramatic damage from Pritzker as the governor of Illinois to the ridiculous Lori Lightfoot and the new mayor now. They do nothing but damage. There's nothing but violence in that city. And they've turned it into a word that I can't use here, but they've turned it into a hole, okay? It is turned into something that you don't even want to look at it anymore. I mean, more parts of the city have turned into trash. It's dirty, it's filthy. They have no clue of what they're doing. And yet people are forced to live there. They continue to raise taxes. The cost of living in Chicago is ridiculously high. We can't continue in these big cities because basically big business is pulling out of these cities, okay? Because listen, why wouldn't I go to Florida? Why wouldn't I go to Texas where I could not pay taxes and have a better life to live? You know, instead of living in a worn down, beaten down, overpriced city of Chicago that has no clue as a mayor and who wants to take my money away, okay, because I should pay welfare. You've heard social security is going to run out of money. How come they never talk about welfare running out of money, okay? That's what I want to know. So we have this going on in these big major cities. I mean, San Francisco's turned into a toilet along with Chicago and along with New York. I mean, you can say what you want, but most parts of those cities, except for the glamorous parts, they're nothing but toilets. And that is the concern with the upcoming race here in New York. We will see what happens. Bubba, finally, you know, after all these years of knowing you, I don't think we ever had this discussion. I don't know if you know that Michael Jordan is one of my greatest heroes. I'm assuming you think he is the GOAT, right? Not LeBron. LeBron is not even close to the GOAT. Okay, thank you. No. Michael Jordan is the GOAT because, listen, again, I know this is not a conversation, but just look in the era he played, the way they beat him up, there was not all these rules to favor the offensive player. That's all. That's it. He's the greatest. No, but why do I bring him up now? Like I said, I'm obsessed with Michael Jordan, but now he's gone viral again because there's this clip of, you know, he was, someone asked him, when was the last time you picked up a ball? He said it was during the Ryder Cup, I don't know, a few years ago at this guy's house in front of his kids. And he was so nervous if he was going to make that free throw. Of course he nailed it, but it was just, it's going viral. So people can Google it if you're interested, but he is the greatest of all time. And so are you, Bubba. We appreciate you. Thank you for coming back. Dani, it's great to be with you. You are the best and continued success, my dear. You're doing a great job. Thank you. And we'll continue watching the gold and silver price here. Exciting times in the market. And thank you all for watching. We'll have more great content coming to you. Happy Friday, happy weekend. As always, reach out to my wonderful colleagues over at ITM Trading. If you are interested and thinking about starting your precious metals journey and want to add gold and silver, tell them Daniela sent you. They'll take extra great care of you. And we'll see you soon.