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Gold's BIG Reset May Still Be Coming | Andy Schechtman

Liberty and Finance Jul 10, 2026

Summary

The guest points to record COMEX (US metals futures exchange) deliveries — buyers standing for real metal, not paper — defying falling prices.

A gold-backed US Treasury bond remains viable after missing its expected July 4 debut, the guest argues, and could restore Treasury-market confidence.

The guest traces price-setting power shifting east, with exchanges in Shanghai, Dubai, Hong Kong, and Singapore settling metal in physical, one-day trades.

Tokenized gold with verified one-to-one backing could force unwinding of rehypothecation — the practice of selling claims on the same metal repeatedly.

Retail premiums fell after a perfect storm of margin hikes, ETF rebalancing, distributor allocations, and public selling; the guest expects recovery.

Judy Shelton's takeaways

  • Top takeaway Schectman champions Shelton's gold-backed US Treasury bond as the best idea he has heard to restore confidence in a Treasury market 'lacking confidence in a big way' and to help re-shore manufacturing without defaulting or hyper-inflating.
  • Per Schectman, Shelton originated the idea, wrote about it in her book 'As Good as Gold,' predicted a July 4th issuance across dozens of interviews and on X, and told him she had discussed it with President Trump while serving on the transition team.
  • He reports she has not dropped the push after the missed July 4th date — she still says she is trying, and urges critics to write to their representatives in Congress rather than complain.
  • Schectman frames her proposal as America's chance to be first to market in re-integrating gold, warning that without it gold will be re-integrated much more aggressively across the Global South.

Andy Schectman's takeaways

  • Top takeaway The Miles Franklin CEO argues record COMEX deliveries and roughly 170 million ounces of silver withdrawn through mid-June 2026 betray the falling paper price, and he expects things to 'take shape' before the end of 2026.
  • He calls Judy Shelton's gold-backed Treasury bond the best idea he has heard to restore confidence and help re-shore manufacturing, and says the idea is not dead after the rumored July 4th issuance failed to materialize.
  • He argues gold is being re-monetized and that settlement plumbing is shifting from paper in the West to fast physical settlement in the East — Shanghai, Singapore, Dubai, Hong Kong — with China's ownership of the London Metals Exchange part of a build-out under the guise of internationalizing the yuan ahead of BRICS expansion.
  • He says tokenized gold that is segregated, audited, and matched one-to-one would force paper markets to match physical — prices 'skyrocketing' until equilibrium — and would blow up over-leveraged ETF structures that rehypothecate their metal.
  • He floats the suspicion that the US Treasury, via the Exchange Stabilization Fund, could be standing for delivery or even suppressing the paper price without needing congressional approval, under a shroud of privacy now that silver is labeled a critical mineral — 'I believe it now,' he says.

Rick Rule's takeaways

  • Top takeaway The interview comes from Rick Rule's Rule Symposium on Natural Resource Investing in Boca Raton, which Schectman says sold out months ago and drew as many as 50% first-time attendees — something he has not seen in roughly 20 years of attending Rule's show.

Kaiser Johnson's takeaways

  • Top takeaway Kaiser Johnson joins the interview and asks Schectman for his outlook on Judy Shelton's gold-backed US Treasury bond idea.
  • He closes the episode presenting Miles Franklin's weekly specials for July 6-13, 2026: gold Maples at $99 over spot and silver kangaroos at $4.10 over spot, both IRA-eligible.

Andy Schechtman's takeaways

  • Top takeaway The Miles Franklin CEO argues record COMEX deliveries and roughly 170 million ounces of silver withdrawn through mid-June 2026 betray the falling paper price, and he expects things to 'take shape' before the end of 2026.
  • He calls Judy Shelton's gold-backed Treasury bond the best idea he has heard to restore confidence and help re-shore manufacturing, and says the idea is not dead after the rumored July 4th issuance failed to materialize.
  • He argues gold is being re-monetized and that settlement plumbing is shifting from paper in the West to fast physical settlement in the East — Shanghai, Singapore, Dubai, Hong Kong — with China's ownership of the London Metals Exchange part of a build-out under the guise of internationalizing the yuan ahead of BRICS expansion.
  • He says tokenized gold that is segregated, audited, and matched one-to-one would force paper markets to match physical — prices 'skyrocketing' until equilibrium — and would blow up over-leveraged ETF structures that rehypothecate their metal.
  • He floats the suspicion that the US Treasury, via the Exchange Stabilization Fund, could be standing for delivery or even suppressing the paper price without needing congressional approval, under a shroud of privacy now that silver is labeled a critical mineral — 'I believe it now,' he says.