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Andy Schectman: Look to Insiders for Clues on Gold

Tom welcomes Andy Schectman of Miles Franklin back to the show. Andy likens Mondays hit on gold to a drive-by shooting. He says, “Physical demand has nothing to do with what we just saw on the Comex. This was done to create a perception of reality.”

It seems that new people are buying precious metals and there is a bit of an awakening. He feels Minnesota where he lives has changed dramatically. In general this year he has seen more business from a whole new subset of people. It’s a vastly different market than before and the other half of the storm is still coming.

The next government might not be market friendly and therefore they could sputter and crater. Democrats are likely to spend more and they may decide to send rates negative in order to stimulate spending.

He discusses why “The Art of War” is an important thing for investors to understand because one of it’s key strategies is misdirection. Today, the public is regularly misdirected from where they should be investing.People shouldn’t focus on price but on the fundamentals.

Normally small amounts stand for delivery on the Comex since it’s usually used for hedging risk. He discusses how the German’s when they pulled their gold from the United States they stated they wanted it before 2020. This year we’ve seen the rise of the others seemingly plugged in wealthy people standing for delivery. More metal is being taken off exchanges in a month than regularly happens in a year. The common thread seems to be to reduce counterparty risk.

The current price smashdown is a gift for smart investors and the insiders know it’s a rigged game. Physical posession of precious metals has never been more important.

He believes we will see a new government digital currency that is in some way pegged to gold. The Fed needs this in order to generate inflation.

Time Stamp References:
0:00 – Introduction
1:10 – Gold, Drive By Shooting
2:50 – Who is Responsible
4:25 – Bullion Sales
9:45 – New Presidency and Spending
13:20 – Bullion Storage Risks
17:50 – The Little Man Rule
23:20 – Comex & Deliveries
29:30 – Insiders & Smart Money
33:40 – New Bretton Woods
36:30 – Digital Currency + Gold
39:20 – New Currency Advantages?
45:10 – Banking Sector Problems
51:20 – Miles Franklin Offer

Talking Points From This Episode

  • Monday’s drop on gold.
  • Democrat’s stimulus plans.
  • Comex and Smart Money.
  • New Bretton Woods.

Guest Links

Andrew (“Andy”) ­ Schectman has been a prominent figure in the financial services industry for more than 25 years, during which he has served as President and owner of Miles Franklin, Precious Metals, Ltd.  Before starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments.  At Miles Franklin Ltd., a company that has recently eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, ethical behavior, superior customer service, and satisfaction to serve their clients better.  He is responsible for overseeing the firm’s operations and business functions, including strategic planning, account management, finance, and new business. Andrew has distinguished himself as a successful entrepreneur, a foremost expert on the precious metals industry, and a reputable speaker on economics, global investing, and foreign currencies. 

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