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Speaker 1: Ninety percent of the criticism of the United States GATS

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Speaker 1: comes from only looking at the liability side of the

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Speaker 1: balance sheet. They never look at the asset side of

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Speaker 1: the balance sheet. We're the ones draining the LBMA. Right now,

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Speaker 1: I turned to the ten year US Treasury bond. It

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Speaker 1: is going to close this week under four percent. We're

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Speaker 1: moving into a stagflationary environment. Is if the flation ers

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Speaker 1: it inflation. It's both asset based deflation commodity price inflations.

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Speaker 2: And I want to get back on the conversation of

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Speaker 2: your plan that you laid down twenty nineteen. That's all

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Speaker 2: coming true. Go ahead and lay out the rest of

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Speaker 2: the plan for us from there. Well, all right, Tom Luongo,

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Speaker 2: what a pleasure to have you back on the show.

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Speaker 3: You know this has been scheduled for a while, and I.

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Speaker 2: Would just say that there's probably no one else that's

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Speaker 2: better to talk to today.

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Speaker 3: On what's going on.

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Speaker 2: So Tom, let me let me frame this up. And

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Speaker 2: I want to see where you want to take this,

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Speaker 2: because I had like one agenda and now the week

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Speaker 2: we're recording this on actually nine to elevenst for recording

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Speaker 2: this on nine to eleven, twenty twenty five, I feel

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Speaker 2: almost like that moment in nine eleven and twenty twenty

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Speaker 2: five where it's like, Wow, the world just changed. But

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Speaker 2: I just got back from England. They're blowing out over there.

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Speaker 2: The guilt market is blowing out, their bond market. They've

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Speaker 2: lost control. The BOE keeps cutting rates, and yet the

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Speaker 2: long end of the curve is running away.

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Speaker 3: The political system.

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Speaker 2: Is being completely overrun by immigrants. You have it's like

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Speaker 2: a powder keg where they have this like operation raised

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Speaker 2: the colors, so like Englishmen are raising the English flag

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Speaker 2: and it's like racism, which is kind of crazy. On

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Speaker 2: the other side, we have what I thought was really

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Speaker 2: interesting in Nepal. Supposedly they banned social media. They burned

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Speaker 2: the parliament building down. They're like killing the leaders over

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Speaker 2: there in Nepaul. In France, you have I'm just framing

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Speaker 2: this up for everybody and then we'll see who it's

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Speaker 2: going to jump in. In France we have mccrone's government

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Speaker 2: failed to survive.

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Speaker 3: There's no confidence vote. I think it's the fourth PM

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Speaker 3: in like twelve months. They've run out.

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Speaker 2: They have this massive, growing debt crisis, and it's kind

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Speaker 2: of the same thing as everywhere. You know, they wanted

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Speaker 2: to try to bring austerity in. People aren't for that.

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Speaker 2: Now they have this block everything movement left and right

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Speaker 2: seemed to be joining together on that. So that's kind

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Speaker 2: of like what's happening in maybe like the West. And

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Speaker 2: then and then I just got back from China. I

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Speaker 2: was there as they were preparing for this landmark military parade,

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Speaker 2: and you have the leaders of Russia and North Korea

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Speaker 2: there with g g Is saying that humanity is once

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Speaker 2: again faced with critical choices peace or war, dialogue or confrontation.

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Speaker 2: And then Trump goes on to say, you know, well

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Speaker 2: I lost. I guess we lost Indian and Russia to China.

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Speaker 2: You know, good regards to Kim Jong yu and Vladimir

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Speaker 2: Putin conspiring against the USA.

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Speaker 3: So this is like this whole world seems like a

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Speaker 3: powder KEG. And then here in the United States we.

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Speaker 2: Had this brutal, brutal killing that just happens way too

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Speaker 2: often on in North Carolina on public transit. Yep, Irena,

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Speaker 2: a Ukrainian woman who came here seeking safety and unfortunately

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Speaker 2: didn't find it. And then we had Charlie Kirk yesterday.

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Speaker 3: Yep.

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Speaker 2: I mean, the world is just a powder cake everywhere,

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Speaker 2: and I'm gonna I'm gonna do one more quote and

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Speaker 2: then I'm gonna see where you want to jump in here, sure,

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Speaker 2: because we mainly talk about finance, but finances related to

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Speaker 2: all of this. And actually there was a there was

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Speaker 2: a video clip I saw of Charlie Kirk saying that

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Speaker 2: his number one focus was deradicalization. And he said, what

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Speaker 2: do you think happens when you own nothing and there's

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Speaker 2: no hope and your money's losing purchasing power? Mm hm,

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Speaker 2: you turn to radicalization and he said that I that's

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Speaker 2: my single focus. And so we typically talk about money here,

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Speaker 2: but I'm gonna end with one more quote. You retweeted

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Speaker 2: a post from vbl Ghost and you said, if the

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Speaker 2: woke movement is a Marxist revolution, it is in parentheses.

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Speaker 2: And if that's true, then we are in the process

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Speaker 2: of approaching a nineteen sixty seven Shanghai Storm moment when

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Speaker 2: the monster they've created on the left is out.

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Speaker 3: Of their control needs to be put down.

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Speaker 2: So these are these are these are political, these are societal,

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Speaker 2: and these are financial revolutions that all seem to converge

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Speaker 2: at the same time.

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Speaker 1: Yep, yeah, I mean you you're picking out my uh

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Speaker 1: my retweet of my good friend Vince Launchi. You know,

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Speaker 1: gota like that because Vince has been it's interesting like

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Speaker 1: it was. It was funny, Vince actually admitted the other day.

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Speaker 1: And I whenever I do a thing with Vince, but

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Speaker 1: I'll well, I'll read into all together stept you just

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Speaker 1: talked about in a second. But you know, whenever Vince

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Speaker 1: and I get together to do a podcast together, we

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Speaker 1: chat for forty five minutes before we record, then we

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Speaker 1: record for an hour and a half, and then we

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Speaker 1: chatted forty five minutes afterwards. Yeah, and you know the

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Speaker 1: Vince's cue because yesterday, yesterday day before on Twitter, he

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Speaker 1: finally said, you know, somebody said, dude, it's really interesting

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Speaker 1: that you're starting to talk.

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Speaker 3: Like this and go right there. And he's like, yeah,

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Speaker 3: well you got that.

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Speaker 1: You got Tom Wata to think for that, because you know,

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Speaker 1: we usually talk about this stuff behind the scenes, but

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Speaker 1: he draws it out of me.

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Speaker 3: I can't help it.

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Speaker 1: I'm like, yeah, I know I do that to people,

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Speaker 1: and I I just remember my heart on my sleep mark.

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Speaker 3: You know you know how that is?

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Speaker 1: Okay, So yes, you're not wrong that it feels like

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Speaker 1: the whole world is trying to spin out out of control.

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Speaker 1: And I'll be honest with you, as far as I'm

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Speaker 1: concerned that that's a feature, not a bug of the

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Speaker 1: system that we have that we're watching collapse, and it's

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Speaker 1: it's collapsing, and they know it's collapsing. So they need

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Speaker 1: to try and create as much chaos as possible because

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Speaker 1: they really do believe that during the chaos, they can

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Speaker 1: set all the people against each other, fighting amongst themselves, black, white, red, blue,

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Speaker 1: you know, Iranian Is, you know, Israeli, I don't care, Brits, Muslims,

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Speaker 1: it doesn't matter. Set everybody else in motion while the

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Speaker 1: elite move you know, while the elite make movements, scott

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Speaker 1: free in the background, create the next architecture for whatever

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Speaker 1: they're going to put together next, and then you know,

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Speaker 1: send in the then overpay the gendarme for all lack

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Speaker 1: of a better term, to come in and assholes and

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Speaker 1: elbows and take care of and whack everybody and restore order.

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Speaker 1: Now at the same time, the reason that this is

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Speaker 1: going on, and I firmly believe this, and you have to,

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Speaker 1: and I'm gonna stick to my guns on this, is

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Speaker 1: because Donald Trump has told them no. Now is the

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Speaker 1: United States going to be some bastion of libertarian freedom

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Speaker 1: of No, it's not. But what Donald Trump has told

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Speaker 1: them is absolutely not. We're not following that path. This

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Speaker 1: is our independence from the old colonial powers of Europe.

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Speaker 1: And if you look at the way he's treated the

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Speaker 1: European leaders when they came to Washington and fortunim the

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Speaker 1: struggle session for peace while they machinate for war. If

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Speaker 1: you watch the way he's struggle sessioned everybody, I mean

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Speaker 1: he invited and or sorry, he entertained here Starmer, the

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Speaker 1: sitting Prime Minister of the United Kingdom, in his castle,

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Speaker 1: Trump's castle in Scotland on that is nominally owned or

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Speaker 1: en ruled by Kir Starmer.

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Speaker 3: I keep wanting to call him here Salom, because it's true,

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Speaker 3: it's about the same.

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Speaker 1: I have an even worse term for him than that,

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Speaker 1: but I'll keep it relatively clean today. So and just

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Speaker 1: remember that mister Starmer got off of Trump's US Navy helicopter.

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Speaker 1: He pump wouldn't even allow the RAF to bring him

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Speaker 1: to Scotland, okay, I And then that was right after

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Speaker 1: he brought in Nursul of Bonderland and gave her terms

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Speaker 1: of EU's financial surrender, which is what he forced him to,

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Speaker 1: which is he forced her to sign. Of course, Bonderland thought,

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Speaker 1: you know, sign whatever it is that she wanted to,

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Speaker 1: because she's thinking to herself, like the rest of these

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Speaker 1: Dabogian catamites, that well, we're gonna force Trump into war,

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Speaker 1: and we're gonna waig him out, and we're just gonna

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Speaker 1: do what we want in two years anyway, it doesn't matter,

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Speaker 1: because we're gonna kill all the support system around him.

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Speaker 1: They're acting exactly the same way they did last summer

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Speaker 1: before they tried to shoot him, or where they did

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Speaker 1: shoot him and missed, But they were all running around

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Speaker 1: like not a care in the world right last summer

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Speaker 1: and even this summer, watching Starmer on his government collapsing

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Speaker 1: around him, and you know, home secretary resigns over something

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Speaker 1: they bring, they bring somebody else and who's even worse,

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Speaker 1: right losing in the polls. They don't care about any

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Speaker 1: they don't care about public support, doubling down on every

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Speaker 1: bad policy. This is not accidental. These people aren't incompetent.

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Speaker 1: They're hyper competent at being vandals. If you and I've

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Speaker 1: been saying this for years, as long as you and

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Speaker 1: I have been, you know, chatting on and off for

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Speaker 1: the you know what, three or four years we've known

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Speaker 1: each other.

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Speaker 3: Yep.

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Speaker 1: I think it's the biggest, probably be four now, Christ

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Speaker 1: it's been that long. They're vandals, they know exactly what

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Speaker 1: they're doing, and so Vince's tweet that you quoted earlier

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Speaker 1: is exactly correct. Right, They've been building this for years.

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Speaker 1: They are now just in burn it all down mode.

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Speaker 1: And they were in they were in maintain everything mode

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Speaker 1: last summer, in the weeks leading up to Butler Pennsylvania, Right,

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Speaker 1: Biden Trump debate. This is what we're gonna use as

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Speaker 1: a cat as the inciting incident. They get rid of Biden,

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Speaker 1: they called for snap elections. In France, they call for

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Speaker 1: snap elections, and in the Great in Great Britain they

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Speaker 1: get they put the people in power they want there.

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Speaker 1: They start the process of liquidating book countries, and then

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Speaker 1: we're gonna kill Trump and then we're gonna have Nicki

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Speaker 1: Haley versus Kamala Harris.

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Speaker 3: That was their plan, and then Trump lived. Yep.

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Speaker 1: Now they've been in scramble mode ever since then. So

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Speaker 1: the reality of the situation is of course very simple.

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Speaker 1: It's if we can't have it, nobody can. So No,

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Speaker 1: Donald Trump, you're not gonna come and save England and

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Speaker 1: the rest of the Commonwealth. You're not gonna save Canada.

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Speaker 1: We're gonna put our We're gonna put our high priests

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Speaker 1: of Debogeian, ecumenically, environmentalism in charge of Canada, and then

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Speaker 1: we're going to destroy what's the left of Canada because

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Speaker 1: we can see you cutting us off from well, we

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Speaker 1: cut ourselves off from Russian gas. We can see you

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Speaker 1: cutting us off from Saudi gas and Azari gas in

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Speaker 1: North Africa and everything else. So we cut ourselves off

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Speaker 1: from British gas and British oil off the North Slope.

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Speaker 1: This is why De liz Trust was deposed three years ago.

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Speaker 1: Like they can see what's happening. So Canada is their

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Speaker 1: last refuge. But Canada has always been their refuge. It's

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Speaker 1: always been the antipode to undermine the United States from

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Speaker 1: the north. As you know, my friend Matt Eric said

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Speaker 1: to me the other day on a podcast we did together,

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Speaker 1: Canada's is the insurrection against the United States from the

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Speaker 1: north that won as opposed to the secession against the

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Speaker 1: United States from the South that lost. Okay, when you

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Speaker 1: think about the history of the nineteenth century, the whole

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Speaker 1: world's being set on fire on purpose because Donald Trump

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Speaker 1: has made it abundantly clear We're not going to fight

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Speaker 1: a war for Israel in the Middle East, and we're

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Speaker 1: not going to fight a war for the British and

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Speaker 1: the French in Ukraine to destroy Russia. The problem for

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Speaker 1: Trump is that he also wants to see Israel survive,

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Speaker 1: and so what the British are now doing is allowing

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Speaker 1: is Now they've turned on their their Israeli partners or

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Speaker 1: you know, subsidiary, whatever you want to call them. As

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Speaker 1: far as I'm concerned, they're cutting off Israeli subsidiary. Net

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Speaker 1: Yahoo is going around and liquidating all the assets around

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Speaker 1: the region that are a threat to Israel, because I

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Speaker 1: think he realized after ten seven. I'm going back now,

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Speaker 1: I reframing in the last couple of years of Netanyaha's behavior.

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Speaker 1: And I feel dirty saying anything positive about that man,

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Speaker 1: because I despise him.

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Speaker 3: Okay, with the core.

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Speaker 1: Of my being, I know he's a sinister, ugly man,

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Speaker 1: but and I know that everything after the butt is

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Speaker 1: what's true.

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Speaker 3: This is what I'm getting at.

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Speaker 1: That was the past, this is now the present, and

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Speaker 1: the present is that ten seven was a Katari Hamas

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Speaker 1: operation against Israel, probably created and organized by m I six,

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Speaker 1: to radicalize the Israelis and start the conflict and to

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Speaker 1: start the spiral down that we have, and to get

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Speaker 1: the Israelis to go freaking bananas and want to wipe

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Speaker 1: out every Palestinian on the planet. Of course, the reaction

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Speaker 1: is over the top, of course the reaction is disgusting,

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Speaker 1: But focusing on their reaction is missing the inciting incident

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Speaker 1: and the causes belli and missing the modus operandee of

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Speaker 1: the people that take, as my friend Alyx Craner likes

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Speaker 1: to put it, take the two types. Take the black

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Speaker 1: antswer the red ants, put them in their drummers, shake.

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Speaker 3: Them up together.

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Speaker 1: Yeah, okay, And the Israelis are part of that process, okay,

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Speaker 1: And then that's gonna set everything in motion to then

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Speaker 1: set them against Iran. Shake the antjar again. Now it's

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Speaker 1: against Turkey. Shake the anjar again. But one of the

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Speaker 1: things you can say about the kind of unfocused aggression

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Speaker 1: that we're seeing in recent days from Natan Yahoo was

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Speaker 1: that these are very targeted strikes against other British backed

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Speaker 1: assets like Turkey and the and the radical Islamists that

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Speaker 1: are in charge in Damascus, like the Kataris in Doa Okay,

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Speaker 1: because that's where City of London wants to move to.

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Speaker 4: Every day we see headlines about inflation and dead and

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Speaker 2: Your first year. Because your bitcoin isn't just for life,

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Speaker 2: it's for.

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Speaker 1: So you you can almost see that, like at the

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Speaker 1: last moment, Nat in Yahoo saw that Israel was going

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Speaker 1: to be completely betrayed and said, oh no, we're not

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Speaker 1: going there because like Netan, Yahoo don't like Netanyahu and

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Speaker 1: I don't, but I can understand his mindset if you're

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Speaker 1: willing to like put yourself into his mind for a minute,

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Speaker 1: which is that this guy, at the end of the day,

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Speaker 1: remember his brother died at Antebbe. As my friend Dexter

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Speaker 1: Lighteweaxer remind me all the time, he's got a certain

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Speaker 1: ethos and that ethos is Israel for better or for worse.

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Speaker 1: Right now, Israel has always been a British construct but

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Speaker 1: you know, the last ten years worth of behavior in

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Speaker 1: relations between Israel, the EU, Britain and the region have

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Speaker 1: been very complicated, right, and there were forces in Israel

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Speaker 1: and the Israeli government system and the Israeli political system.

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Speaker 1: They're clearly against YAH and they're backed by Europe, all

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Speaker 1: naphtally Bennett. So when you start getting into the things,

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Speaker 1: and when I'm getting on here, so I'm not trying

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Speaker 1: to absolve Israel of anything. Obviously they're committing whatever you

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Speaker 1: want to call it genocide or whatever. I don't care

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Speaker 1: call it what you want, the eradication of the Palestinians

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Speaker 1: in Gaza, Okay, I don't care. And we can have

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Speaker 1: and and and we can all feel horror a shame

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Speaker 1: at all of it. But when you but you look

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Speaker 1: at the why this is creating up while we're getting

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Speaker 1: to the powder Keg moment is exactly this. Everybody's being

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Speaker 1: radicalized on some irrational bit of violence that's being paraded

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Speaker 1: in front of us on a day to day basis,

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Speaker 1: whether it is Israel's you know, attacks on the Gosins,

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Speaker 1: whether it's some whether it's that poor girl on the

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Speaker 1: bus uh in Charlotte or Charlie Kirk or this or

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Speaker 1: the insanity that's happening in the in the streets you know,

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Speaker 1: all over England or in Ireland or in you know,

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Speaker 1: in the United States, like it's happening everywhere, and all

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Speaker 1: of this is a market is all this is policy?

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Speaker 3: The question is whose policy? Who benefits from this?

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Speaker 1: So you ask yourself the basic quite best, and who

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Speaker 1: benefits from No, it's the people that who are literally.

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Speaker 3: In the process of losing all their power.

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Speaker 1: Because if Donald Trump, Vladimiprut and Ajijin Ping get together

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Speaker 1: and recarve up the world, who does not see at

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Speaker 1: the table it's the same thing I've been saying for

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Speaker 1: four years, and I'm sorry, but that heuristic works better

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Speaker 1: than everybody else. Is heuristic like it's all the Jews,

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Speaker 1: or it's all this or none of that, Like it's

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Speaker 1: fully explanatory. And for you know, then for people who

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Speaker 1: want to see a better world, you have to understand

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Speaker 1: the game board, understand the players and the motivations so

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Speaker 1: you can see that where we're gonna wind up on

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Speaker 1: the other side because we have to be able to

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Speaker 1: predict their moves. It doesn't matter whether we hate the

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Speaker 1: moves that were that they're making we hate the game

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Speaker 1: that we're playing. Don't hate the play I hate the game.

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Speaker 2: Yeah, right, So who doesn't have a seat England and

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Speaker 2: the EU?

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Speaker 3: Yeah, I mean do they have any collateral?

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Speaker 1: Do they have any energy? Do they have any innovation?

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Speaker 1: Do they have any people? Do they have a birth rate? No,

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Speaker 1: they have nothing.

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Speaker 3: You know what they have? They have bureaucracy and shame. Yeah,

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Speaker 3: that's what they've got. And violence. Yeah.

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Speaker 2: Now, obviously this is culminated right now, and you mentioned

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Speaker 2: all these players from Trump and bb et cetera. But

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Speaker 2: a lot of this seems to be decades in the making.

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Speaker 2: So as I kind of started out by saying, you know,

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Speaker 2: we're sort of at this maybe long end of this

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Speaker 2: eighty year credit cycle where now the bond markets across

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Speaker 2: the developed world are all blowing out. I mean, obviously

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Speaker 2: with England, as I said, right, the guilt market's blowing

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Speaker 2: out while the BOE keeps trying the lower rates. We're

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Speaker 2: seeing this kind of across the board. So I mean,

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Speaker 2: how much of this is just sort of this culmination

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Speaker 2: of this long term destruction of the monetary system versus

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Speaker 2: this game board catalyst of like or maybe they're they're

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Speaker 2: realizing the game is almost up, so now we have

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Speaker 2: to reshuffle the deck real quickly to kind of figure

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Speaker 2: out who gets that seat next.

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Speaker 1: Well, yeah, that's what they're doing, like and they look

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Speaker 1: the you know, every time the British Empire gets in trouble,

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Speaker 1: they wanted to fault on their debt and sort over

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Speaker 1: again or the or in Europe or whatever. Remember, as Martin,

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Speaker 1: I'm Storing likes to point out all the time, and

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Speaker 1: I've had the great pleasure getting the no marety over

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Speaker 1: the past two months.

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Speaker 3: So it's been fun.

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Speaker 1: Bouncing a lot of these ideas off and then actually

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Speaker 1: bouncing on a lot of his ideas back off of

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Speaker 1: him and being which is to say that that what

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Speaker 1: is the America?

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Speaker 3: What is America's superpower? It's the fact that we've never

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Speaker 3: defaulted on our debt.

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Speaker 1: Sure, always paid our debts, even if we've gone to

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Speaker 1: inflations and we've you know, paid it. We've never ever

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Speaker 1: default on an acusip. We've always paid our posts, paid our.

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Speaker 3: We did default on the gold. We did default on

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Speaker 3: paying back the gold in nineteen seventy one.

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Speaker 1: Well yeah, but but you know, did we or or

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Speaker 1: where the fun or where the freaking French running an

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Speaker 1: operation using our trade deficit and our our tax dollars

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Speaker 1: that were going to France through the Marshall Plan to

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Speaker 1: take all of our freaking gold because the gall hated

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Speaker 1: us more than Matchrone does.

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Speaker 3: Because that's what they did.

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Speaker 1: Mark, I'm gonna reframe that whole argument by the Libertarians

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Speaker 1: and who I used to be by saying, oh, by

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Speaker 1: the way, that was our tax money, that was the

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Speaker 1: Marshall Plan that created a trade that could have created

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Speaker 1: a durable trade advantage to a trade positive trade flow

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Speaker 1: towards France. Who then, the gall who hated the United

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Speaker 1: States was then draining our money. Who's then, so we're

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Speaker 1: rebuilding France and he's redeeming his trade sort of plus

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Speaker 1: which we paid for by stealing our gold.

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Speaker 3: Yeah. No, no, you don't get anymore.

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Speaker 1: I'm over it, Like I'm over that whole argument, Like, yes,

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Speaker 1: do we need to go back on a gold standardism

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Speaker 1: form or another?

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Speaker 3: Yes? And are we in the process of doing so? Yes?

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Speaker 3: And you know who's gonna do that, Who's gonna lead

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Speaker 3: that charge?

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Speaker 1: It ain't the Chinese, it ain't the Russians, it ain't

404
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Speaker 1: the Indians, it ain't bricks and anybody else, it's us

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Speaker 1: because we're the ones draining in the LBMA right now,

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Speaker 1: We're the ones knocking down city of London. They're the

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Speaker 1: ones that ran the gold scam for fifty years to

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Speaker 1: prop up the quote unquote prop up.

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Speaker 3: The dollars of the world's reserve currency. And they did it.

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Speaker 1: It's ninety percent of the of the of the entire

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Speaker 1: gold manipulation system was run out of the LBMA and

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Speaker 1: the COMACS. But it all starts at the LBMA and

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Speaker 1: also there and being there in Zurich.

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Speaker 3: That's interesting that you say that.

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Speaker 2: I mean, to the point about the revaluing gold or

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Speaker 2: going back to this gold system. I mean, certainly a

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Speaker 2: lot of people see this. I like to follow Luke

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Speaker 2: Grammin pretty closely, and he's been talking about this for

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Speaker 2: quite a while. And how he says it's really China

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Speaker 2: and the bricks that are starting to kind of course

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Speaker 2: he to push push the price of gold back up.

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Speaker 1: Of course he does because Lucas never met, Because Lucas

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Speaker 1: never met a talking point about finance that has ever

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Speaker 1: been positive towards the United States.

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Speaker 3: I've told Luke this on Twitter.

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Speaker 2: I'm like, dude, come on, well, he has told me

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Speaker 2: in his defense, I mean, he's not here and I

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Speaker 2: don't want to words in his mouth, and he has

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Speaker 2: told me that he sees that there's the US also

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Speaker 2: sees this coming to a head, and if they don't

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Speaker 2: preempt the move by China, then they kind of have

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Speaker 2: that last mover advantage. So you know, potentially he sees

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Speaker 2: a chance or the.

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00:22:08,240 --> 00:22:10,520
Speaker 1: First mover advantage because we're the ones draining the LBMA,

435
00:22:10,800 --> 00:22:13,960
Speaker 1: We're the ones. I said this four years ago when

436
00:22:14,000 --> 00:22:16,439
Speaker 1: we started raising interest rates. I said, it's what's going

437
00:22:16,440 --> 00:22:19,000
Speaker 1: to bake everybody's noodles, that the United States is going

438
00:22:19,040 --> 00:22:21,040
Speaker 1: to be the one that wants to seize the gold

439
00:22:21,040 --> 00:22:24,200
Speaker 1: price rise. And what's gonna make everybody's noodle is watching

440
00:22:24,200 --> 00:22:26,040
Speaker 1: the Fed put bitcoin on their balance sheet.

441
00:22:26,040 --> 00:22:29,040
Speaker 3: Well that didn't quite come true, but that the United States, like.

442
00:22:29,240 --> 00:22:32,560
Speaker 1: Ice, crypto is a means by which to collateralize their debt.

443
00:22:33,160 --> 00:22:38,879
Speaker 3: Yeah, it's coming same thing. Yeah, Luke didn't say that

444
00:22:38,920 --> 00:22:40,320
Speaker 3: four years ago. I did.

445
00:22:41,960 --> 00:22:44,320
Speaker 1: Gluke goes on Tucker Carlson for forty five minutes and

446
00:22:44,400 --> 00:22:48,159
Speaker 1: does nothing but complain no solutions to the problem. I

447
00:22:48,240 --> 00:22:50,399
Speaker 1: gave you the broad pamp to the solution, and I

448
00:22:50,440 --> 00:22:51,959
Speaker 1: hate the bike too, my own horny here, but I'm

449
00:22:52,000 --> 00:22:55,400
Speaker 1: going to do so. I gave everybody the the ancherse

450
00:22:55,400 --> 00:22:57,200
Speaker 1: I'm really angry about this this stuff, not because I

451
00:22:57,240 --> 00:22:57,920
Speaker 1: didn't get the credit.

452
00:22:58,400 --> 00:23:01,040
Speaker 3: Put the credit. I care about to fix the problem,

453
00:23:01,200 --> 00:23:02,840
Speaker 3: and I gave everybody to the roadmap. They all called

454
00:23:02,840 --> 00:23:04,840
Speaker 3: me crazy. Fine, I don't care about being called crazy.

455
00:23:05,119 --> 00:23:06,320
Speaker 3: Next lay it about is.

456
00:23:06,240 --> 00:23:08,440
Speaker 1: That the fact that like the roadmap is now being

457
00:23:08,480 --> 00:23:10,639
Speaker 1: laid out in front of us, and people are still

458
00:23:10,840 --> 00:23:16,200
Speaker 1: arguing like it's twenty nineteen, staring you in the face,

459
00:23:16,240 --> 00:23:20,920
Speaker 1: that that is not what's happening. Brent Johnson is more

460
00:23:20,920 --> 00:23:24,240
Speaker 1: correct about all of this in the long run, and

461
00:23:24,280 --> 00:23:26,639
Speaker 1: we all kind of agreed, Yes, is there a problem

462
00:23:26,640 --> 00:23:29,000
Speaker 1: in the United States in terms of the physical position,

463
00:23:29,080 --> 00:23:31,160
Speaker 1: in terms of the debt, in terms of all these things.

464
00:23:31,320 --> 00:23:33,400
Speaker 3: Yes, But has anybody looked as.

465
00:23:33,200 --> 00:23:35,080
Speaker 1: I as I have at the end of the day, Mark,

466
00:23:35,160 --> 00:23:36,879
Speaker 1: this is one of the things that really bothers me

467
00:23:37,280 --> 00:23:39,359
Speaker 1: because and I've said it many times. I don't think

468
00:23:39,400 --> 00:23:41,000
Speaker 1: I've said it to you personally in the life, because

469
00:23:41,000 --> 00:23:42,280
Speaker 1: you know, and I haven't talked on this a year,

470
00:23:42,720 --> 00:23:46,720
Speaker 1: But think about this, I always said, Look, ninety percent

471
00:23:46,880 --> 00:23:49,840
Speaker 1: of the criticism of the United States gets comes from

472
00:23:50,320 --> 00:23:52,840
Speaker 1: only looking at the liability side of the balance sheet.

473
00:23:53,000 --> 00:23:54,760
Speaker 3: Sure they never look at.

474
00:23:54,640 --> 00:23:58,679
Speaker 1: The asset side of the balance sheet. Okay, And the

475
00:23:59,160 --> 00:24:00,959
Speaker 1: and the only ass and only asked that anybody ever

476
00:24:01,000 --> 00:24:03,000
Speaker 1: wants to look at is of course the tax flow,

477
00:24:03,240 --> 00:24:07,640
Speaker 1: because that's the system, right, This system is we issue taxes.

478
00:24:07,880 --> 00:24:10,119
Speaker 1: We issued debt and pay for them, pay for the

479
00:24:10,160 --> 00:24:12,679
Speaker 1: interest on the on it with taxes, and that's how

480
00:24:12,720 --> 00:24:15,040
Speaker 1: we fund the liquidity system. And that's how this that's

481
00:24:15,040 --> 00:24:16,760
Speaker 1: how the system is supposed to work, as other credit

482
00:24:16,800 --> 00:24:20,359
Speaker 1: system says running right, Well, that's the British model of

483
00:24:20,440 --> 00:24:27,960
Speaker 1: central banking, debt, feudalism, slavery, tariffs. Oh and by the way,

484
00:24:28,080 --> 00:24:31,600
Speaker 1: and we were operating where everybody else was terriffing us,

485
00:24:31,680 --> 00:24:33,520
Speaker 1: but we weren't allowed to tariff them back.

486
00:24:34,119 --> 00:24:36,159
Speaker 3: Well, well this is not fear because you're got a

487
00:24:36,200 --> 00:24:37,199
Speaker 3: better economy than us.

488
00:24:37,359 --> 00:24:43,520
Speaker 1: Like shut up, loser, Yeah, like I think off, Like

489
00:24:43,600 --> 00:24:46,120
Speaker 1: I'm serious, Like this is They've all been sitting here

490
00:24:46,119 --> 00:24:49,280
Speaker 1: like freeom welfare quas for eighty five friggin years complaining

491
00:24:49,280 --> 00:24:53,160
Speaker 1: about this, and we had the we we built their societies.

492
00:24:53,880 --> 00:24:54,640
Speaker 3: But most people have.

493
00:24:54,600 --> 00:24:56,800
Speaker 2: No idea that those countries tariff US or why those

494
00:24:56,800 --> 00:24:58,320
Speaker 2: tariffs were given to them in the first place.

495
00:24:58,640 --> 00:25:00,600
Speaker 3: I mean, and some of these terriffs, like the stuff

496
00:25:00,640 --> 00:25:03,640
Speaker 3: between US and Canada, go back well before World War

497
00:25:03,640 --> 00:25:08,159
Speaker 3: Two and the Marshall Plan. Right, Okay, So understand that.

498
00:25:09,520 --> 00:25:12,159
Speaker 1: Understand that when you start to really think about the

499
00:25:12,200 --> 00:25:14,120
Speaker 1: balance sheet of the United States, you start thinking about

500
00:25:14,119 --> 00:25:17,480
Speaker 1: the assets, and you look at the way we've had

501
00:25:17,520 --> 00:25:20,800
Speaker 1: to deal with environmental regulations and you know, cars and

502
00:25:20,840 --> 00:25:25,520
Speaker 1: transportation and this and that, and all this managerial bureaucracy.

503
00:25:25,400 --> 00:25:26,400
Speaker 3: That we all hate.

504
00:25:27,359 --> 00:25:29,880
Speaker 1: What is that that's a means by which to write

505
00:25:29,920 --> 00:25:33,919
Speaker 1: the assets down behind those regulations to zero, so that

506
00:25:33,960 --> 00:25:36,520
Speaker 1: you can't bring them to bear and put them against

507
00:25:36,760 --> 00:25:39,160
Speaker 1: and put them against the liability. So all you're doing

508
00:25:39,200 --> 00:25:41,400
Speaker 1: is you're saying, well, yeah, I mean, the United States

509
00:25:41,480 --> 00:25:43,560
Speaker 1: is thirty seven trillion dollars in debt and some number

510
00:25:43,560 --> 00:25:47,520
Speaker 1: of unfunded liabilities and trillions in debt. But that's only

511
00:25:47,560 --> 00:25:52,440
Speaker 1: if you take as good in everything else. The regulations

512
00:25:52,440 --> 00:25:55,560
Speaker 1: aren't going to change the burden on the middle class,

513
00:25:55,560 --> 00:25:57,440
Speaker 1: tax burden in the middle class, the regulatory burden on

514
00:25:57,440 --> 00:25:58,760
Speaker 1: the middle class and all that stuff is not going

515
00:25:58,840 --> 00:26:04,320
Speaker 1: to change. But now is it happening fast enough for

516
00:26:04,400 --> 00:26:06,840
Speaker 1: the for the radicals in the audience. Of course not,

517
00:26:07,000 --> 00:26:09,200
Speaker 1: because the radicals in the audience are not grown ups

518
00:26:09,200 --> 00:26:13,159
Speaker 1: who wear pants. You know why, because they understand. They

519
00:26:13,160 --> 00:26:15,320
Speaker 1: don't understand that they can look at see. Well, Donald Trump,

520
00:26:15,480 --> 00:26:16,920
Speaker 1: you have he has a majority in the House.

521
00:26:16,920 --> 00:26:18,040
Speaker 3: In the Senate, No, he doesn't.

522
00:26:20,480 --> 00:26:24,240
Speaker 1: He won the biggest landslide and modern electoral history, but

523
00:26:24,280 --> 00:26:28,080
Speaker 1: he only won a three seat majority in the House. No,

524
00:26:28,320 --> 00:26:30,200
Speaker 1: he won a forty seat majority in the House. They

525
00:26:30,240 --> 00:26:32,600
Speaker 1: stole thirty seven of them. He won a nine seat

526
00:26:32,600 --> 00:26:38,359
Speaker 1: majority in the Senate and they sold six of them.

527
00:26:36,680 --> 00:26:38,960
Speaker 3: Because they were still ballid. They were still ballad harvesting

528
00:26:39,000 --> 00:26:42,480
Speaker 3: in December. Yeah. Crazy, that's all being rebrune, right.

529
00:26:42,760 --> 00:26:44,679
Speaker 1: So he winds up in the same situation he has now,

530
00:26:44,680 --> 00:26:47,119
Speaker 1: which is his biggest tail risk is a is a

531
00:26:47,200 --> 00:26:49,639
Speaker 1: Congress that doesn't want to go along with his plans

532
00:26:49,720 --> 00:26:51,240
Speaker 1: either because they're bought and paid.

533
00:26:51,000 --> 00:26:53,280
Speaker 3: For, their corrupt or all of the above.

534
00:26:55,440 --> 00:26:59,320
Speaker 1: So until that changes, he can only make certain moves.

535
00:27:01,000 --> 00:27:02,840
Speaker 1: You know, he can only make certain moves at the

536
00:27:02,920 --> 00:27:07,920
Speaker 1: edges of the process. Now, take that one step further.

537
00:27:08,280 --> 00:27:10,640
Speaker 1: He also had to go tap th and verse through

538
00:27:10,680 --> 00:27:16,000
Speaker 1: the entire process of reasserting the Article two powers of

539
00:27:16,040 --> 00:27:18,520
Speaker 1: the President of the United States and the Article three

540
00:27:18,560 --> 00:27:22,440
Speaker 1: powers of the Supreme Court. And you do that by well,

541
00:27:22,480 --> 00:27:25,359
Speaker 1: we're gonna do this thing that we know. They're going

542
00:27:25,400 --> 00:27:28,399
Speaker 1: to issue an injunction against some lower court and then

543
00:27:28,440 --> 00:27:29,840
Speaker 1: it's gonna roll up to the Supreme Court and the

544
00:27:29,840 --> 00:27:32,200
Speaker 1: Supreme Court's gonna knock it down. Okay, Well that part

545
00:27:32,200 --> 00:27:35,760
Speaker 1: of the Article two has been re established. Okay, next thing,

546
00:27:35,880 --> 00:27:37,880
Speaker 1: next thing, next thing, next thing, next thing. I saw

547
00:27:37,920 --> 00:27:39,960
Speaker 1: something the other day. I think it was like Trump

548
00:27:40,040 --> 00:27:42,440
Speaker 1: is won eighteen or nineteen times in the Supreme Court

549
00:27:42,520 --> 00:27:44,240
Speaker 1: so far this summer. It was like Amy Coney Barrett

550
00:27:44,280 --> 00:27:47,160
Speaker 1: finally came out and said, we're not rubber stamping his

551
00:27:47,160 --> 00:27:51,560
Speaker 1: his agenda. We're just interpreting the Constitution as written. These

552
00:27:51,640 --> 00:27:56,439
Speaker 1: judges are insane. Okay, So this is the art. This

553
00:27:56,480 --> 00:28:00,800
Speaker 1: is what Article two means. And all of these lower

554
00:28:00,800 --> 00:28:04,359
Speaker 1: courts don't really exist if the Congress says they go

555
00:28:04,400 --> 00:28:05,200
Speaker 1: away tomorrow.

556
00:28:06,240 --> 00:28:10,320
Speaker 3: So Congress is Trump's biggest tail risk. They know it.

557
00:28:11,160 --> 00:28:13,840
Speaker 3: And so that's why. So that's why their whole extend

558
00:28:13,840 --> 00:28:16,640
Speaker 3: to pretend thing has been running. So what I think

559
00:28:16,720 --> 00:28:20,520
Speaker 3: is about ready to give way. This fall is going

560
00:28:20,560 --> 00:28:23,480
Speaker 3: to be once the Supreme Court gets through the last

561
00:28:23,640 --> 00:28:26,400
Speaker 3: few of these cases that are going to the big

562
00:28:26,400 --> 00:28:28,640
Speaker 3: ones that are going to re establish that Donald Trump

563
00:28:28,720 --> 00:28:31,560
Speaker 3: no can actually fire just about everybody under the purview

564
00:28:31,600 --> 00:28:34,480
Speaker 3: of the executive branch with stroke of the penela of

565
00:28:34,480 --> 00:28:37,560
Speaker 3: the land. Okay, same thing for all the money and

566
00:28:37,600 --> 00:28:40,000
Speaker 3: everything else. And we're nearly there. We're about eighty five percent.

567
00:28:40,120 --> 00:28:42,040
Speaker 3: There like three or four more cases that need to

568
00:28:42,040 --> 00:28:45,240
Speaker 3: be settled. I think I believe something like that. And

569
00:28:45,280 --> 00:28:47,920
Speaker 3: then once that happens done, you're going to watch it occur.

570
00:28:48,080 --> 00:28:50,040
Speaker 3: I've been speaking to guys over like ONBA you have

571
00:28:50,040 --> 00:28:51,720
Speaker 3: a couple other departments, and they're all like, oh, yeah,

572
00:28:52,000 --> 00:28:55,480
Speaker 3: we're just waiting. When you saw when you saw John

573
00:28:55,480 --> 00:28:58,160
Speaker 3: Thune the other day finally say hey, we're done. We're

574
00:28:58,400 --> 00:29:01,880
Speaker 3: we're pushing through all of trump'upport evens it was like

575
00:29:01,960 --> 00:29:03,680
Speaker 3: forty eight or yeah, I saw that.

576
00:29:04,160 --> 00:29:07,040
Speaker 1: I mean, these are all important department heads and people

577
00:29:07,880 --> 00:29:11,160
Speaker 1: that are necessary to run these agencies and to clean

578
00:29:11,200 --> 00:29:15,440
Speaker 1: them up. And so when the totality of all that

579
00:29:16,240 --> 00:29:22,360
Speaker 1: excuse me is to say Trump's writing up the value

580
00:29:22,400 --> 00:29:25,680
Speaker 1: of these assets that are on the balance sheet. Once that,

581
00:29:25,880 --> 00:29:29,680
Speaker 1: once that's been done, now let's recalculate what the United

582
00:29:29,720 --> 00:29:32,720
Speaker 1: States fiscal position is. And if anybody has a question

583
00:29:33,320 --> 00:29:37,800
Speaker 1: about whether or not they're being successful to write those

584
00:29:38,520 --> 00:29:42,120
Speaker 1: assets up in value. I turned to the ten year

585
00:29:42,240 --> 00:29:43,400
Speaker 1: US Treasury bond.

586
00:29:43,840 --> 00:29:46,080
Speaker 3: You're the one who brought it up, Mark, Thank you.

587
00:29:46,160 --> 00:29:48,920
Speaker 2: Just had a record a record auction, just had a

588
00:29:48,960 --> 00:29:49,440
Speaker 2: record oction.

589
00:29:49,560 --> 00:29:51,720
Speaker 1: Go look at it like the ten year is going

590
00:29:51,800 --> 00:29:53,920
Speaker 1: to close today, is going to close this week under

591
00:29:53,920 --> 00:29:54,440
Speaker 1: four percent.

592
00:29:55,280 --> 00:29:55,560
Speaker 3: Yep.

593
00:29:56,360 --> 00:29:58,600
Speaker 1: And Powell's probably only got a cut by twenty five

594
00:29:58,640 --> 00:30:00,400
Speaker 1: do more because of the CPI that came out today.

595
00:30:01,040 --> 00:30:03,960
Speaker 1: And this started well before Jackson Hole when he changed

596
00:30:03,960 --> 00:30:06,880
Speaker 1: the monetary policy. He got rid of the two percent

597
00:30:06,920 --> 00:30:10,120
Speaker 1: inflation mandate, which, by the way, Powell never liked.

598
00:30:10,480 --> 00:30:12,240
Speaker 3: Oh by the way, he was a.

599
00:30:12,160 --> 00:30:13,840
Speaker 1: Critic of it from the time that Bernaki put it

600
00:30:13,880 --> 00:30:15,720
Speaker 1: in place when he was a junior member of the FOMC.

601
00:30:16,600 --> 00:30:21,080
Speaker 1: So it was only the greatest thing that ever that's

602
00:30:21,080 --> 00:30:23,960
Speaker 1: occurred in the last year other than Trump getting.

603
00:30:23,880 --> 00:30:26,000
Speaker 2: Why would he only cut by twenty five though, because

604
00:30:26,200 --> 00:30:28,440
Speaker 2: I thought, with the record jobs blowout that we just

605
00:30:28,480 --> 00:30:32,440
Speaker 2: had the revision and the jobs report, the economy looks

606
00:30:32,520 --> 00:30:33,240
Speaker 2: much worse than it is.

607
00:30:33,280 --> 00:30:34,160
Speaker 3: And I thought, he's going to.

608
00:30:34,720 --> 00:30:36,960
Speaker 1: I'm not going to complain, and I wanted him to

609
00:30:36,960 --> 00:30:39,440
Speaker 1: coup by I literally as of this morning, before the

610
00:30:39,480 --> 00:30:43,640
Speaker 1: CPI report. I have two reasons why I'm now moving

611
00:30:43,640 --> 00:30:45,760
Speaker 1: back toward twenty five. And it's all because of the

612
00:30:45,800 --> 00:30:48,280
Speaker 1: last six hours, because we're doing this in the day of.

613
00:30:48,240 --> 00:30:49,800
Speaker 3: The CBI came out. And I'll explain why in just

614
00:30:49,800 --> 00:30:50,160
Speaker 3: a second.

615
00:30:50,320 --> 00:30:52,440
Speaker 1: So yesterday I said I was doing my market report

616
00:30:52,480 --> 00:30:54,360
Speaker 1: for my patrons, which I do on every Wednesday and

617
00:30:54,360 --> 00:30:57,120
Speaker 1: every Sunday, And on Wednesday morning, I said, okay, well,

618
00:30:57,360 --> 00:31:03,200
Speaker 1: tomorrow's the CBI report. I've been charting the the monthly

619
00:31:03,240 --> 00:31:05,920
Speaker 1: close of the price of gasoline futures price of gasoline

620
00:31:06,160 --> 00:31:09,200
Speaker 1: versus the four month rolling average of the month of

621
00:31:09,240 --> 00:31:10,280
Speaker 1: over month change in.

622
00:31:12,480 --> 00:31:13,000
Speaker 3: The CPI.

623
00:31:13,240 --> 00:31:15,920
Speaker 1: So take the last four months of the CPI, roll

624
00:31:16,000 --> 00:31:19,000
Speaker 1: that up and and chart that against the same closing

625
00:31:19,040 --> 00:31:23,360
Speaker 1: months reported, you know, the same months closing the.

626
00:31:23,320 --> 00:31:26,440
Speaker 3: Price of gasoline. And I ran, you know, the last nine.

627
00:31:26,320 --> 00:31:29,560
Speaker 1: Years of that and since COVID, since or really since

628
00:31:29,720 --> 00:31:32,720
Speaker 1: Powell sort of tightening, we've been in a commodity cost

629
00:31:32,760 --> 00:31:36,320
Speaker 1: pushing place and environment where the directionally the two move

630
00:31:36,400 --> 00:31:39,440
Speaker 1: and lockstep. A couple of months here or there where

631
00:31:39,440 --> 00:31:41,600
Speaker 1: that okay, they weren't quite in lockstep, but for the

632
00:31:41,600 --> 00:31:44,880
Speaker 1: most part they've been in lockstep directionally. I mean, price

633
00:31:44,920 --> 00:31:47,440
Speaker 1: of gasoline goes up, the CPI, the four month rolling

634
00:31:47,440 --> 00:31:52,600
Speaker 1: average of the CPI goes up. So this month for August,

635
00:31:52,960 --> 00:31:54,520
Speaker 1: the clos was like it you know, it was down

636
00:31:54,800 --> 00:31:57,120
Speaker 1: fifteen cents over the year of the over July July

637
00:31:57,120 --> 00:31:59,400
Speaker 1: I was like two eleven a gallon monthly closing aciline

638
00:31:59,440 --> 00:32:04,520
Speaker 1: was like one ninety seven. Like my prediction CPI is

639
00:32:04,560 --> 00:32:06,360
Speaker 1: going to come in at about point one percent, meaning

640
00:32:06,400 --> 00:32:10,760
Speaker 1: it's gonna roll over, you know, proportionately with the with the.

641
00:32:10,800 --> 00:32:12,479
Speaker 3: With the price of gasoline.

642
00:32:12,440 --> 00:32:16,760
Speaker 1: Right came up point four. But I did say if

643
00:32:16,760 --> 00:32:20,000
Speaker 1: it doesn't do that, two things. One, it's either removing

644
00:32:20,000 --> 00:32:24,200
Speaker 1: into a stagflationary environment or potentially a demand pull environment

645
00:32:24,760 --> 00:32:29,640
Speaker 1: or the price of electricity from all these data centers

646
00:32:30,040 --> 00:32:33,600
Speaker 1: that are coming online to run AIS are now the

647
00:32:33,640 --> 00:32:37,520
Speaker 1: commodity or now the component of commodity cost push inflation right,

648
00:32:38,040 --> 00:32:41,040
Speaker 1: because gasoline prices year over year were down six point

649
00:32:41,120 --> 00:32:45,120
Speaker 1: six percent, but electricity prices year over Europe thirteen percent.

650
00:32:45,240 --> 00:32:47,600
Speaker 1: Piped natural gas was up nine percent. That was like

651
00:32:47,680 --> 00:32:50,880
Speaker 1: nine That was like most of the CPI rise, whereas gasoline.

652
00:32:50,920 --> 00:32:53,720
Speaker 1: So if it was just the gasoline story like it

653
00:32:53,760 --> 00:32:56,600
Speaker 1: has been up for the last four years, yeah, I

654
00:32:56,600 --> 00:32:59,600
Speaker 1: would have been correct. So because the CPI is blowing

655
00:32:59,600 --> 00:33:02,960
Speaker 1: out and the price of gasoline is falling or at

656
00:33:03,040 --> 00:33:05,520
Speaker 1: least is flat at around two dollars a gallon, that

657
00:33:05,640 --> 00:33:08,120
Speaker 1: tells you that we're maybe if we get two or

658
00:33:08,120 --> 00:33:11,080
Speaker 1: three months worth of data, that's that confirms this trend.

659
00:33:11,240 --> 00:33:14,360
Speaker 3: It's not a trend yet, just a data point that

660
00:33:14,440 --> 00:33:14,800
Speaker 3: we're in a.

661
00:33:14,760 --> 00:33:18,760
Speaker 1: Different environment and we have much less likelation than we

662
00:33:18,800 --> 00:33:22,280
Speaker 1: have forty five as opposed to fifty. Because when you

663
00:33:22,320 --> 00:33:24,040
Speaker 1: said we're gonna play the they're just still gonna play

664
00:33:24,040 --> 00:33:24,720
Speaker 1: the inflation game.

665
00:33:25,120 --> 00:33:26,880
Speaker 2: When you say we're in a much different environment, does

666
00:33:26,920 --> 00:33:29,080
Speaker 2: that mean that we actually have less environment than what

667
00:33:29,120 --> 00:33:30,600
Speaker 2: the CBI tells us or we have more.

668
00:33:31,720 --> 00:33:35,520
Speaker 1: What I mean is that we're moving into a different

669
00:33:36,760 --> 00:33:39,880
Speaker 1: environment from the purpose, from the standpoint of the credit

670
00:33:39,920 --> 00:33:44,240
Speaker 1: and and and in place meaning what I mean is

671
00:33:44,720 --> 00:33:48,480
Speaker 1: I think the most likely thing. But again I can

672
00:33:48,720 --> 00:33:52,960
Speaker 1: I can make two hypotheses here that we're moving into

673
00:33:53,000 --> 00:33:55,360
Speaker 1: what I would call it a stackflationary define environment. Now

674
00:33:55,360 --> 00:33:58,400
Speaker 1: I define staculation differently than the rest of the world does,

675
00:33:58,440 --> 00:34:03,240
Speaker 1: because well, the Phillips curve was always bullshit, which is

676
00:34:03,280 --> 00:34:06,680
Speaker 1: how we defined the cyclation of the seventies, high unemployment

677
00:34:06,680 --> 00:34:09,920
Speaker 1: with high inflation, because that the Canesian model said that

678
00:34:09,960 --> 00:34:12,439
Speaker 1: can't possibly be true because the Phillips curve blah blah

679
00:34:12,440 --> 00:34:14,480
Speaker 1: blah blah. I'm like, the Phillips curve is always nonsense.

680
00:34:15,040 --> 00:34:18,440
Speaker 1: We're in a different environment today. I've always said, whenever

681
00:34:18,480 --> 00:34:20,240
Speaker 1: we get to a moment like this is like post

682
00:34:20,280 --> 00:34:24,840
Speaker 1: two thousand and eight, right, I remember, like Petership versus

683
00:34:24,840 --> 00:34:26,399
Speaker 1: Harry Dent debates from that back time.

684
00:34:26,880 --> 00:34:29,560
Speaker 3: Is if deflation or is it inflation? I'm like, it's both.

685
00:34:29,840 --> 00:34:34,319
Speaker 1: It's a red asset based deflation. It's commodity it's commodity

686
00:34:34,480 --> 00:34:37,520
Speaker 1: price inflation. The two are going to meet one. You've

687
00:34:37,560 --> 00:34:40,520
Speaker 1: got You've got, you know, a reorganization of the economy

688
00:34:40,560 --> 00:34:43,799
Speaker 1: out of the hyper financialized into the real economy. As

689
00:34:43,840 --> 00:34:46,240
Speaker 1: you do that, you're now going to put upward pressure

690
00:34:46,280 --> 00:34:49,239
Speaker 1: on commodity prices. Going to supply chains take time to

691
00:34:49,239 --> 00:34:52,279
Speaker 1: build out. Therefore, you know, the commodity cycles were always

692
00:34:52,320 --> 00:34:53,280
Speaker 1: out of phase with the price.

693
00:34:53,680 --> 00:34:55,960
Speaker 3: Therefore, you should start to see both of these.

694
00:34:55,960 --> 00:34:58,000
Speaker 1: You should start to see kind of a reversion, a

695
00:34:58,080 --> 00:35:02,240
Speaker 1: mean reversion, and that period is best then, and because

696
00:35:02,280 --> 00:35:04,560
Speaker 1: of that, you're going to have high unemployment. You might

697
00:35:04,600 --> 00:35:08,920
Speaker 1: have rising inflation, price inflation overall for the things that

698
00:35:08,960 --> 00:35:11,239
Speaker 1: matter to people. People will complain about food inflation and

699
00:35:11,239 --> 00:35:16,880
Speaker 1: housing inflation and whatnot. But you know, but home prices

700
00:35:16,920 --> 00:35:19,000
Speaker 1: may fall, you know what I mean?

701
00:35:19,560 --> 00:35:24,240
Speaker 2: Or yeah, you know, I see on trueflation today they're

702
00:35:24,280 --> 00:35:26,160
Speaker 2: calling inflation at two percent.

703
00:35:28,080 --> 00:35:30,160
Speaker 3: And it was that's right over it seven a couple

704
00:35:30,200 --> 00:35:30,800
Speaker 3: of weeks ago.

705
00:35:31,000 --> 00:35:33,480
Speaker 1: I watched trueflation every once in a while, I check

706
00:35:33,520 --> 00:35:36,480
Speaker 1: in with it so at interesting moments in time. So

707
00:35:37,320 --> 00:35:39,120
Speaker 1: I think it's a good model, but I don't think

708
00:35:39,120 --> 00:35:40,799
Speaker 1: it's perfect. But I think it's a better model than

709
00:35:40,800 --> 00:35:42,320
Speaker 1: the CPI certainly.

710
00:35:42,760 --> 00:35:45,080
Speaker 2: Yeah, okay, So I want to take you back, and

711
00:35:45,120 --> 00:35:47,040
Speaker 2: I want to get back on the conversation of your

712
00:35:47,200 --> 00:35:49,880
Speaker 2: plan that you laid down twenty nineteen. That's all coming true.

713
00:35:50,040 --> 00:35:53,400
Speaker 2: So if I'm recapping this plan. Part of this is

714
00:35:53,440 --> 00:35:55,920
Speaker 2: all based off of we've only heard about the liabilities

715
00:35:55,920 --> 00:35:58,040
Speaker 2: of the US government. We haven't heard about the asset base.

716
00:35:58,680 --> 00:36:00,480
Speaker 3: So the first time I had heard that was.

717
00:36:00,400 --> 00:36:03,279
Speaker 2: Howard Lutnik who came on the Trump administration on All

718
00:36:03,320 --> 00:36:05,560
Speaker 2: In podcasts, and he was talking about how, you know,

719
00:36:05,840 --> 00:36:07,719
Speaker 2: through his fund, he's you know, taken over all these

720
00:36:07,760 --> 00:36:10,000
Speaker 2: different businesses, and when he comes and looks at these businesses,

721
00:36:10,040 --> 00:36:12,200
Speaker 2: he looks at all the different assets and the balance sheets,

722
00:36:12,200 --> 00:36:14,480
Speaker 2: and he's like, we all hear about the debt of

723
00:36:14,160 --> 00:36:16,799
Speaker 2: the country, but we never once have heard about the

724
00:36:16,880 --> 00:36:17,560
Speaker 2: asset base.

725
00:36:18,080 --> 00:36:19,680
Speaker 3: And so I thought that was very interesting.

726
00:36:19,719 --> 00:36:22,239
Speaker 2: And so what you're saying is since twenty nineteen, you've

727
00:36:22,239 --> 00:36:24,160
Speaker 2: been sort of looking at this. Now this is coming true.

728
00:36:24,200 --> 00:36:27,200
Speaker 2: I heard Howard Lutnik talk about it. You're talking about

729
00:36:27,440 --> 00:36:30,120
Speaker 2: ways that they could start to revalue some of these

730
00:36:30,160 --> 00:36:33,360
Speaker 2: assets and come up with whatever that valuation is. Sure,

731
00:36:34,320 --> 00:36:36,920
Speaker 2: and so anyway, go ahead and lay out the rest

732
00:36:36,920 --> 00:36:38,440
Speaker 2: of the plan for us from there, Well.

733
00:36:38,480 --> 00:36:40,520
Speaker 1: Yeah, let's let's just start out there. Like you this

734
00:36:40,560 --> 00:36:41,960
Speaker 1: is when you start to and this is when you

735
00:36:41,960 --> 00:36:46,120
Speaker 1: start to open up federal lands for physical export exploitations

736
00:36:46,120 --> 00:36:48,160
Speaker 1: when you used to rebuild the infrastructure of the country

737
00:36:48,320 --> 00:36:52,040
Speaker 1: so that it's you improve the comparative our productive capacity of.

738
00:36:51,520 --> 00:36:52,600
Speaker 3: Of individual workers.

739
00:36:52,719 --> 00:36:55,600
Speaker 1: You also have to recapitalize the middle class, and you've

740
00:36:55,600 --> 00:36:59,120
Speaker 1: got to do that by opening up the small and

741
00:36:59,120 --> 00:37:01,840
Speaker 1: medium banking regime. And that's where I think stable the

742
00:37:01,840 --> 00:37:07,839
Speaker 1: stable coin bills come in, and and the but the

743
00:37:07,880 --> 00:37:10,239
Speaker 1: big one is that you've got to open up the

744
00:37:10,239 --> 00:37:12,319
Speaker 1: cash flow of the middle class. And how you do

745
00:37:12,360 --> 00:37:14,600
Speaker 1: that is you get you've got to get Fanning and

746
00:37:14,600 --> 00:37:15,920
Speaker 1: Freddy A out of conservatorship.

747
00:37:16,000 --> 00:37:17,239
Speaker 3: You've got to get them moving again.

748
00:37:17,320 --> 00:37:20,200
Speaker 1: The libertarians are going to hate this, but unfortunately this

749
00:37:20,239 --> 00:37:23,280
Speaker 1: is the truth. The thirty year more fixed rate mortgage

750
00:37:23,480 --> 00:37:26,880
Speaker 1: is one of the greatest inventions in American history. The

751
00:37:26,920 --> 00:37:29,480
Speaker 1: government back thirty year fixed rate mortgage is one of

752
00:37:29,480 --> 00:37:32,359
Speaker 1: the great inventions of human history because what it did

753
00:37:32,480 --> 00:37:34,520
Speaker 1: was it opened up the productive capacity of the middle

754
00:37:34,600 --> 00:37:37,640
Speaker 1: class to get a fixed costs and however much their

755
00:37:37,680 --> 00:37:40,040
Speaker 1: mortgage was going to be, and then use that to

756
00:37:40,160 --> 00:37:43,960
Speaker 1: then build businesses that created a higher return on investment

757
00:37:44,040 --> 00:37:45,799
Speaker 1: over the course of the life and the loan, and

758
00:37:45,840 --> 00:37:48,560
Speaker 1: thereby they were paying them. They were paying back their

759
00:37:48,560 --> 00:37:51,680
Speaker 1: mortgage with appreciating money because they were making five percent

760
00:37:51,680 --> 00:37:53,200
Speaker 1: of their business, was growing five percent of the year,

761
00:37:53,200 --> 00:37:54,560
Speaker 1: and they were paying three three and a half percent

762
00:37:54,600 --> 00:37:59,040
Speaker 1: on their mortgages. Now, we could argue about the suppression

763
00:37:59,040 --> 00:38:00,640
Speaker 1: of interest rates and risks and everything else, but the

764
00:38:00,680 --> 00:38:02,920
Speaker 1: truth of the matter is is that Fanny and Freddie

765
00:38:02,960 --> 00:38:09,640
Speaker 1: were an unbelievably successful project until the weirdness of the

766
00:38:09,680 --> 00:38:12,160
Speaker 1: early two thousands. And I've gotten to the point now

767
00:38:12,200 --> 00:38:13,719
Speaker 1: where I honestly believe.

768
00:38:13,480 --> 00:38:15,480
Speaker 3: That that was an operation.

769
00:38:16,719 --> 00:38:19,520
Speaker 1: That the entire financial crisis of the year of two

770
00:38:19,560 --> 00:38:21,759
Speaker 1: thousand and eight was designed from the ground up to

771
00:38:21,800 --> 00:38:25,640
Speaker 1: destroy the thirty year mortgage and strip people of the

772
00:38:25,680 --> 00:38:28,640
Speaker 1: ability to be able to buy a home, and then

773
00:38:29,080 --> 00:38:31,520
Speaker 1: create a massive inflation that raised the price of a

774
00:38:31,560 --> 00:38:36,799
Speaker 1: home to way beyond what anybody could afford. And you know,

775
00:38:36,960 --> 00:38:39,919
Speaker 1: the terms were so onerous, twenty five thirty percent down,

776
00:38:40,320 --> 00:38:42,680
Speaker 1: massive changes to underwriting rules.

777
00:38:42,719 --> 00:38:43,160
Speaker 3: I'm fighting.

778
00:38:43,200 --> 00:38:45,680
Speaker 1: I've been fighting with Wells Fargo for a couple of

779
00:38:46,160 --> 00:38:50,560
Speaker 1: months now, practically as a small business owner, because I

780
00:38:50,560 --> 00:38:53,239
Speaker 1: don't because I'm not on a W two and so underwriting,

781
00:38:53,560 --> 00:38:55,880
Speaker 1: you know, literally wants to sniff up my ass all

782
00:38:55,920 --> 00:38:58,480
Speaker 1: the way back to you know, the time I was

783
00:38:58,480 --> 00:39:01,440
Speaker 1: in my mom's womb and order to get a fucking mortgage,

784
00:39:01,440 --> 00:39:04,120
Speaker 1: and I'm like, no, you know, I mean and I

785
00:39:04,120 --> 00:39:07,359
Speaker 1: mean everything, and like it's I'm like, no, I make

786
00:39:07,440 --> 00:39:09,440
Speaker 1: this much money, it's more than enough. I'm not asking

787
00:39:09,480 --> 00:39:10,840
Speaker 1: for a lot. Give me the freaking note, and they

788
00:39:10,840 --> 00:39:13,719
Speaker 1: won't do it. And some of that is because of

789
00:39:13,800 --> 00:39:17,120
Speaker 1: the way Sarbine's Oxley was written and the way God

790
00:39:17,200 --> 00:39:20,200
Speaker 1: Frank was written. It was all written with the purpose

791
00:39:20,320 --> 00:39:24,520
Speaker 1: of making it nearly impossible for small business owners to

792
00:39:24,640 --> 00:39:29,960
Speaker 1: get mortgages in a reasonable time frame if they had

793
00:39:30,000 --> 00:39:34,279
Speaker 1: any kind of complications in their in their income stream, whatsoever.

794
00:39:34,800 --> 00:39:37,520
Speaker 1: And so we overcorrect it to the point of creating

795
00:39:37,680 --> 00:39:40,520
Speaker 1: this nightmare. And so the only way people and then

796
00:39:40,600 --> 00:39:42,520
Speaker 1: let's not even get into the fact that you know,

797
00:39:42,560 --> 00:39:44,759
Speaker 1: now we're talking about loan to value ratios and you

798
00:39:44,800 --> 00:39:46,759
Speaker 1: know how much money they have to put down and

799
00:39:46,800 --> 00:39:48,640
Speaker 1: blah blah blah blah blah. When you start to really

800
00:39:48,680 --> 00:39:50,759
Speaker 1: look at like all of this stuff, like who the

801
00:39:50,760 --> 00:39:52,240
Speaker 1: hell's got twenty percent to put.

802
00:39:52,120 --> 00:39:52,800
Speaker 3: Down on a house?

803
00:39:53,640 --> 00:39:56,440
Speaker 2: If if I'm not mistaken, I believe it was Bill Clinton.

804
00:39:56,600 --> 00:39:58,239
Speaker 2: Maybe it was under Reagan, but I think it was

805
00:39:58,280 --> 00:40:00,600
Speaker 2: under Bill Clinton that they also really wanted to kind

806
00:40:00,640 --> 00:40:02,560
Speaker 2: of push for this home ownership, which sort of led

807
00:40:02,560 --> 00:40:03,880
Speaker 2: to that that housing bubble.

808
00:40:04,080 --> 00:40:06,160
Speaker 3: But part of it was because they felt.

809
00:40:05,880 --> 00:40:09,000
Speaker 2: Like Americans should own property and there should be that

810
00:40:09,040 --> 00:40:10,560
Speaker 2: sort of pride of ownership there.

811
00:40:10,920 --> 00:40:13,880
Speaker 1: I mean, pride of ownership is I mean ownership, property

812
00:40:13,880 --> 00:40:17,759
Speaker 1: ownership is how you build generational wealth and expid about

813
00:40:17,760 --> 00:40:20,320
Speaker 1: property taxes. So that's another thing that's that's nass in

814
00:40:20,400 --> 00:40:22,200
Speaker 1: here that we finally get rid of property taxes in

815
00:40:22,239 --> 00:40:26,000
Speaker 1: the the thousand year old feudalism brought in by William

816
00:40:26,040 --> 00:40:30,439
Speaker 1: the Conqueror to England and to the West, Like.

817
00:40:30,520 --> 00:40:31,280
Speaker 3: This is evil.

818
00:40:31,680 --> 00:40:34,359
Speaker 1: We're still we're still like we should not be paying

819
00:40:34,360 --> 00:40:37,279
Speaker 1: rent to the government when we own our own right

820
00:40:37,280 --> 00:40:39,080
Speaker 1: like that. I mean, like, I mean, you know, I'm

821
00:40:39,080 --> 00:40:41,600
Speaker 1: still libertarian enough to believe that taxes are theft. I'm

822
00:40:41,600 --> 00:40:44,800
Speaker 1: not like you're not gonna lie idea, but like property

823
00:40:44,840 --> 00:40:47,640
Speaker 1: taxes are still the original Senate government, Like you should

824
00:40:47,680 --> 00:40:50,280
Speaker 1: not you should not have to pay rent to the government.

825
00:40:50,440 --> 00:40:55,360
Speaker 3: That's feudalism, folks, Yeah, like it is. It's not paying

826
00:40:55,440 --> 00:40:58,680
Speaker 3: for the fucking school system. It's feudalism.

827
00:41:00,160 --> 00:41:03,120
Speaker 2: Yeah, it takes me back to the video piece I

828
00:41:03,160 --> 00:41:06,839
Speaker 2: was talking from Charlie Kirk where he said that happy people,

829
00:41:06,880 --> 00:41:09,880
Speaker 2: grateful people, don't get behind Vladimir Lenin or Chavez or Castro.

830
00:41:10,200 --> 00:41:13,239
Speaker 2: People that own nothing, that feel like their property is diminishing.

831
00:41:13,320 --> 00:41:15,839
Speaker 2: They don't own property or their dollars diminishing value, they

832
00:41:15,880 --> 00:41:19,000
Speaker 2: start to look for alternatives. And so that was Charlie

833
00:41:19,040 --> 00:41:20,720
Speaker 2: Kirk saying that, and so kind of to your point,

834
00:41:20,760 --> 00:41:23,759
Speaker 2: it's like giving them home, so they have that ownership

835
00:41:23,840 --> 00:41:26,520
Speaker 2: and then the other side is taking that away. I

836
00:41:26,520 --> 00:41:28,640
Speaker 2: want to continue with this plan that you've laid out

837
00:41:28,640 --> 00:41:30,360
Speaker 2: because I have a couple questions about that, and so

838
00:41:30,560 --> 00:41:32,480
Speaker 2: I want to talk about Trump's ability to get this done.

839
00:41:32,520 --> 00:41:34,640
Speaker 2: You were talking about, you know, some of these things

840
00:41:34,680 --> 00:41:37,799
Speaker 2: you do with the Supreme Court. But before I ask

841
00:41:37,880 --> 00:41:42,120
Speaker 2: you that question again, this week China had this landmark

842
00:41:42,200 --> 00:41:44,600
Speaker 2: military parade. A lot of quotes and stuff were coming

843
00:41:44,600 --> 00:41:47,280
Speaker 2: out of that. One thing I saw in Political Magazine

844
00:41:47,280 --> 00:41:51,560
Speaker 2: is said that the Pentagon's plan is now changed and

845
00:41:51,600 --> 00:41:56,960
Speaker 2: now they're prioritizing homeland over the China threat.

846
00:41:57,680 --> 00:42:01,600
Speaker 1: It's deeper than that. So is this the game board

847
00:42:02,040 --> 00:42:05,000
Speaker 1: I believe fundamentally that the name change around the Department

848
00:42:05,080 --> 00:42:07,759
Speaker 1: of Defense to the Department of War is in order

849
00:42:07,800 --> 00:42:11,440
Speaker 1: to literally use the legalese to say, the Department of Defense,

850
00:42:11,480 --> 00:42:14,479
Speaker 1: which no longer exists, no longer has to operate under

851
00:42:14,480 --> 00:42:18,040
Speaker 1: the twenty eighteen National Defense Authorization Act, which was re

852
00:42:18,080 --> 00:42:20,959
Speaker 1: uped in twenty twenty two. The name, the name change

853
00:42:21,000 --> 00:42:22,719
Speaker 1: is important. It's like, you know, it's like all the

854
00:42:22,719 --> 00:42:25,200
Speaker 1: contracts that were written against the golf of all the treaties,

855
00:42:25,239 --> 00:42:27,600
Speaker 1: is that they were issued against the Gulf of Mexico.

856
00:42:27,640 --> 00:42:29,280
Speaker 3: Well we changed the name of the Gulf of America,

857
00:42:29,360 --> 00:42:32,200
Speaker 3: so you know what I mean. Like you two can

858
00:42:32,239 --> 00:42:33,840
Speaker 3: play the legalese game, folks.

859
00:42:33,920 --> 00:42:36,480
Speaker 1: And you know, and I hadn't thought about that this

860
00:42:36,520 --> 00:42:38,880
Speaker 1: has like Stephen Miller written all over it, folks. Like

861
00:42:38,920 --> 00:42:41,440
Speaker 1: I'm that serious when I say this is like Miller

862
00:42:41,560 --> 00:42:43,560
Speaker 1: is like clear of the clearly the guy who's in

863
00:42:43,600 --> 00:42:46,840
Speaker 1: charge of the chart over Trump Central, which is opposing

864
00:42:46,880 --> 00:42:50,560
Speaker 1: the Gan chart over at Evil Corpse Central, right the

865
00:42:50,680 --> 00:42:53,120
Speaker 1: you know Microsoft project files of all this stuff that

866
00:42:53,200 --> 00:42:55,840
Speaker 1: you know, while they advanced their plans, the Trump is

867
00:42:55,840 --> 00:42:57,960
Speaker 1: advancing is and you know, they're playing their games and

868
00:42:57,960 --> 00:43:00,560
Speaker 1: every and you know, sometimes they win one and sometimes

869
00:43:00,560 --> 00:43:01,200
Speaker 1: Trump wins one.

870
00:43:01,280 --> 00:43:01,839
Speaker 3: This is the way.

871
00:43:01,960 --> 00:43:03,920
Speaker 1: It's the way war works, folks. And if it's you're

872
00:43:03,960 --> 00:43:07,640
Speaker 1: uncomfortable with it, oh well, like you know, it's a foxhole.

873
00:43:07,840 --> 00:43:09,560
Speaker 1: Like you can dig it deeper if you want, but

874
00:43:10,239 --> 00:43:11,439
Speaker 1: eventually you're gonna have to fight.

875
00:43:13,080 --> 00:43:14,520
Speaker 3: What does the name change mean?

876
00:43:15,400 --> 00:43:17,000
Speaker 1: So the main so the name change and it gives

877
00:43:17,040 --> 00:43:19,040
Speaker 1: them the state they really they don't have to follow

878
00:43:19,040 --> 00:43:23,480
Speaker 1: the NDAA and the NDA said the Department Offense must

879
00:43:23,560 --> 00:43:25,920
Speaker 1: prepare to fight a two front war against Russian and China.

880
00:43:27,880 --> 00:43:30,040
Speaker 3: That's not what we're doing anymore. Now.

881
00:43:30,160 --> 00:43:33,920
Speaker 1: We are prioritizing walking down the Western hemisphere.

882
00:43:34,440 --> 00:43:39,120
Speaker 3: Now. I said back in November when.

883
00:43:39,040 --> 00:43:44,120
Speaker 1: Marco Rubio was nominated to be Secretary of State, everybody's like,

884
00:43:44,120 --> 00:43:46,600
Speaker 1: ahy that Neo Conree's and Aralis first, they're not and

885
00:43:46,680 --> 00:43:49,279
Speaker 1: they focus on all that stuff and they forget the

886
00:43:49,280 --> 00:43:54,520
Speaker 1: phone party. Marco is really well liked around Central and

887
00:43:54,520 --> 00:43:55,240
Speaker 1: South America.

888
00:43:56,600 --> 00:43:57,839
Speaker 3: And that was.

889
00:43:58,040 --> 00:44:02,239
Speaker 1: Quite an open political geopolitical statement to the Chinese and

890
00:44:02,280 --> 00:44:07,040
Speaker 1: the Russians that we are getting prepared to extricate ourselves

891
00:44:07,280 --> 00:44:14,800
Speaker 1: from the British mackinderesque tall poppy syndrome. Problem of keeping

892
00:44:14,880 --> 00:44:20,320
Speaker 1: all of of of keeping all of a a mess

893
00:44:20,440 --> 00:44:24,600
Speaker 1: so that nobody can rise and retrenching and refocusing our

894
00:44:24,640 --> 00:44:29,560
Speaker 1: efforts to creating fortress North and you know, the western hemisphere.

895
00:44:29,600 --> 00:44:33,240
Speaker 1: It's like, this is our area. Y'all have your area.

896
00:44:33,560 --> 00:44:35,400
Speaker 1: I don't care what and we don't care what happens

897
00:44:35,440 --> 00:44:38,919
Speaker 1: to Europe. We want out of NATO, we want out

898
00:44:38,960 --> 00:44:41,399
Speaker 1: of the un Like, but we can't say any of that.

899
00:44:41,560 --> 00:44:45,040
Speaker 1: He can't do that directly while you've got these old guards,

900
00:44:45,280 --> 00:44:49,080
Speaker 1: when you've got Mitchell McConnell's and Lisa Murkowski's and the Senate,

901
00:44:49,520 --> 00:44:51,879
Speaker 1: they will, they will get together and they will impeach him.

902
00:44:52,400 --> 00:44:54,839
Speaker 1: They but they can't impeach him if he doesn't state

903
00:44:54,880 --> 00:44:56,880
Speaker 1: the state that that's what he's gonna do. You know

904
00:44:56,880 --> 00:44:58,799
Speaker 1: what I mean, Like you have to play the game

905
00:44:58,840 --> 00:45:02,520
Speaker 1: of what's said or what's being done and what's said.

906
00:45:03,080 --> 00:45:07,160
Speaker 1: That's politics. And there's no way that Chuck Shuwery company

907
00:45:07,160 --> 00:45:10,799
Speaker 1: can impeach Trump over what not wanting to go to

908
00:45:10,880 --> 00:45:14,160
Speaker 1: war with Ukraine, with Russia over Ukraine, not wanting to

909
00:45:14,880 --> 00:45:18,560
Speaker 1: you know, make the American people unsafe and the targets

910
00:45:18,560 --> 00:45:22,160
Speaker 1: of the potential in Russian nuclear weapon or seventy. Really

911
00:45:22,520 --> 00:45:24,719
Speaker 1: you want to impeach him for that? How about No,

912
00:45:25,400 --> 00:45:27,920
Speaker 1: it's what we voted for. They keep asking us over

913
00:45:27,960 --> 00:45:29,560
Speaker 1: and over and over again, did you vote for this?

914
00:45:29,640 --> 00:45:33,680
Speaker 1: I'm like, yeah, kinda, no, actually I voted really voted

915
00:45:33,760 --> 00:45:39,440
Speaker 1: for that. And so that's the game. And when we

916
00:45:39,640 --> 00:45:42,680
Speaker 1: when you understand the game. And I thought people understood

917
00:45:42,680 --> 00:45:46,560
Speaker 1: politics better than this, but apparently not, Like I mean,

918
00:45:46,760 --> 00:45:50,200
Speaker 1: I don't know, I'm not This isn't this isn't bogus

919
00:45:50,200 --> 00:45:52,239
Speaker 1: to you, Mark. This is like in general, I watch

920
00:45:52,320 --> 00:45:54,360
Speaker 1: people on a day to day basis. I watch people

921
00:45:54,360 --> 00:45:58,200
Speaker 1: who are supposed to be astute political commentators not get

922
00:45:58,239 --> 00:46:02,360
Speaker 1: this basic concept. Like we used to have reasonable political

923
00:46:02,400 --> 00:46:04,120
Speaker 1: debate in this country. I used to watch cross Talk

924
00:46:04,120 --> 00:46:06,040
Speaker 1: with them, and I used to watch the maclauchlin group

925
00:46:06,080 --> 00:46:07,440
Speaker 1: with Buchanan and the rest.

926
00:46:07,320 --> 00:46:10,120
Speaker 3: Of them, and yeah, you know, half of them were morons.

927
00:46:10,120 --> 00:46:12,160
Speaker 3: So especially that Elean or whatever the hell her name was,

928
00:46:12,160 --> 00:46:12,600
Speaker 3: not Elbert.

929
00:46:13,640 --> 00:46:16,359
Speaker 1: She was terrible, but at the very least they knew shit.

930
00:46:17,400 --> 00:46:20,279
Speaker 1: Yeah right, she could hold her own against Buchanan even

931
00:46:20,320 --> 00:46:23,279
Speaker 1: if she was hot. She was hateful, but you know,

932
00:46:23,320 --> 00:46:25,479
Speaker 1: watching the Maconaqulin group today, We've got nothing.

933
00:46:25,480 --> 00:46:28,319
Speaker 3: We've got a bunch of you know, talking monkeys.

934
00:46:28,760 --> 00:46:31,359
Speaker 2: You know, so we get back if if we get

935
00:46:31,360 --> 00:46:33,920
Speaker 2: back to the plan, we're talking about revaluing the US's assets,

936
00:46:34,480 --> 00:46:36,719
Speaker 2: which would I guess potentially then lead to revaluing the

937
00:46:36,719 --> 00:46:41,239
Speaker 2: gold talking about changing the structure of the game board

938
00:46:41,239 --> 00:46:43,240
Speaker 2: of the U S sort of retrenching back to the west,

939
00:46:43,600 --> 00:46:48,120
Speaker 2: the western hemisphere. You talked about Trump's sort of narrow

940
00:46:48,200 --> 00:46:51,279
Speaker 2: margin of victory in the House, in the Senate. A

941
00:46:51,360 --> 00:46:53,719
Speaker 2: lot of that could be maybe resolved through this new

942
00:46:53,760 --> 00:46:59,240
Speaker 2: Senate census that's being pushed through and sort of redistish.

943
00:46:57,520 --> 00:46:59,320
Speaker 3: Stream all those lines.

944
00:47:00,040 --> 00:47:03,040
Speaker 2: But I guess my question is, I mean, that's a

945
00:47:03,080 --> 00:47:05,440
Speaker 2: pretty tall order to get done in the next three years.

946
00:47:05,680 --> 00:47:06,000
Speaker 3: It is.

947
00:47:06,160 --> 00:47:07,880
Speaker 1: It's a lot to get done. Because you think not

948
00:47:07,960 --> 00:47:09,759
Speaker 1: everything is going to get done in next three years. No,

949
00:47:10,560 --> 00:47:12,640
Speaker 1: you've got to get through the midterms. You get through

950
00:47:12,680 --> 00:47:16,720
Speaker 1: the midterms with a durable with a real durable majority

951
00:47:16,760 --> 00:47:18,719
Speaker 1: in the House of the Senate, and a lot a

952
00:47:18,719 --> 00:47:20,319
Speaker 1: lot of stuff can get done in the next two years.

953
00:47:20,400 --> 00:47:23,160
Speaker 1: You set what Trump can do before he leaves is

954
00:47:23,160 --> 00:47:27,720
Speaker 1: to set the foundation in place bestin is clearly setting

955
00:47:27,719 --> 00:47:30,759
Speaker 1: the foundation in place to overhaul bring the Treasury more

956
00:47:31,520 --> 00:47:36,440
Speaker 1: central to the monetary transmission system, sidelining the FED to

957
00:47:36,920 --> 00:47:39,840
Speaker 1: some extent. I think that I think he and Powell

958
00:47:39,880 --> 00:47:43,360
Speaker 1: are both agreed in in the long run that the

959
00:47:43,360 --> 00:47:45,560
Speaker 1: FED has to be returned to its pre Banking Act

960
00:47:45,600 --> 00:47:49,800
Speaker 1: of nineteen thirty five routes right, or the very least,

961
00:47:50,000 --> 00:47:52,880
Speaker 1: If not to that, then to a version of the

962
00:47:52,880 --> 00:47:54,840
Speaker 1: FED that is not involved.

963
00:47:55,800 --> 00:47:58,920
Speaker 3: It only safeguards the treasury.

964
00:47:58,560 --> 00:48:01,480
Speaker 1: Market from the international person effective, but the domestic treasury

965
00:48:01,520 --> 00:48:04,040
Speaker 1: market is under the purview of the Treasury and how

966
00:48:04,080 --> 00:48:08,000
Speaker 1: the and how that demand is maintained. And then the

967
00:48:08,480 --> 00:48:11,520
Speaker 1: Fed's job is to backstop the commercial paper market domestically,

968
00:48:12,200 --> 00:48:16,319
Speaker 1: backstop the international value of the dollar internationally, and walk

969
00:48:16,360 --> 00:48:18,840
Speaker 1: away from all of its other responsibilities.

970
00:48:20,560 --> 00:48:22,120
Speaker 3: That would be a perfectly.

971
00:48:21,680 --> 00:48:25,960
Speaker 1: Reasonable, you know, situation for the Federal Reserve for the

972
00:48:26,000 --> 00:48:29,120
Speaker 1: next transition period, for the next decade or generation or

973
00:48:29,120 --> 00:48:32,280
Speaker 1: whatever after that. You and I can have a conversation.

974
00:48:32,320 --> 00:48:34,600
Speaker 1: But if I'm not dead of a heart attack, so

975
00:48:35,719 --> 00:48:37,400
Speaker 1: you know, because I don't think that's I don't know

976
00:48:37,480 --> 00:48:39,480
Speaker 1: how long much longer I'm going, we'll say I mean,

977
00:48:39,880 --> 00:48:41,960
Speaker 1: I just don't. I don't see myself living the past

978
00:48:41,960 --> 00:48:43,279
Speaker 1: seventy five, seventy seven years old.

979
00:48:43,320 --> 00:48:47,000
Speaker 3: I just don't. So I think it's but that's the timeline.

980
00:48:47,080 --> 00:48:48,719
Speaker 1: So what you're doing now is you're setting up the

981
00:48:48,800 --> 00:48:52,920
Speaker 1: durable political advantage through two things. You redistrict like states

982
00:48:53,000 --> 00:48:56,680
Speaker 1: left and right. The Democrats lose, you know, lose people

983
00:48:56,760 --> 00:48:59,200
Speaker 1: left and right. This is I think, what's I think

984
00:48:59,239 --> 00:49:05,960
Speaker 1: if Charlie Kerr and Arena Zarutzka, I think that's how

985
00:49:06,000 --> 00:49:09,800
Speaker 1: you pronounce your name. If they have any staying power

986
00:49:10,320 --> 00:49:15,600
Speaker 1: as symbols, it will be for everybody to stand up

987
00:49:15,640 --> 00:49:20,000
Speaker 1: and go, Okay, that's enough, no more. We have work

988
00:49:20,040 --> 00:49:22,880
Speaker 1: to do and it's time to move on. You know,

989
00:49:23,080 --> 00:49:24,640
Speaker 1: yesterday when I was again when I was doing the

990
00:49:24,680 --> 00:49:27,040
Speaker 1: market report yesterday, right before I sat down the hit record,

991
00:49:27,360 --> 00:49:29,960
Speaker 1: so I was popping through my Slack server and somebody

992
00:49:29,960 --> 00:49:33,600
Speaker 1: had posted this AI. I was clearly an AI picture

993
00:49:34,040 --> 00:49:38,480
Speaker 1: of a mural of of Arena up on a tenement wall,

994
00:49:38,520 --> 00:49:41,200
Speaker 1: and you know, imagine like Baltimore or whatever.

995
00:49:41,640 --> 00:49:44,200
Speaker 3: Yep. And I took one look at.

996
00:49:44,080 --> 00:49:47,400
Speaker 1: That, and it was in service of the tweet that

997
00:49:47,440 --> 00:49:49,560
Speaker 1: went out by some guys that I'm gonna raise I

998
00:49:49,600 --> 00:49:52,360
Speaker 1: want to raise five hundred thousand dollars to do block

999
00:49:52,680 --> 00:49:55,879
Speaker 1: art block grants to paint murals of Irena all over

1000
00:49:55,920 --> 00:49:56,600
Speaker 1: the United States.

1001
00:49:56,600 --> 00:49:58,160
Speaker 3: And then Elon Musk comes in and says, I pledge

1002
00:49:58,160 --> 00:50:00,520
Speaker 3: a million dollars. Yeah, I saw that, and I went,

1003
00:50:01,880 --> 00:50:03,560
Speaker 3: that's how you handle this?

1004
00:50:04,360 --> 00:50:07,640
Speaker 1: Oh yeah, Oh no, No, you absolutely beat the living

1005
00:50:07,719 --> 00:50:11,040
Speaker 1: shit out of anybody that is going to treat another

1006
00:50:11,080 --> 00:50:15,840
Speaker 1: woman like anywhere close to what that animal treat how

1007
00:50:15,880 --> 00:50:19,120
Speaker 1: that animal treated her like. We have to step up

1008
00:50:19,200 --> 00:50:21,880
Speaker 1: as men and say we're willing to protect our women

1009
00:50:22,080 --> 00:50:25,359
Speaker 1: and we're not, and we're no longer going to indulge

1010
00:50:25,760 --> 00:50:31,319
Speaker 1: in the erasure of women and the erasure of men

1011
00:50:32,840 --> 00:50:36,319
Speaker 1: from our society by blending them into some you know,

1012
00:50:37,480 --> 00:50:41,200
Speaker 1: non binary milange of purple hairs and tattoos. Fuck off, No,

1013
00:50:41,320 --> 00:50:43,360
Speaker 1: we're not doing that. That is not the world that

1014
00:50:43,360 --> 00:50:45,080
Speaker 1: any of us want to live in. And what that

1015
00:50:45,160 --> 00:50:49,799
Speaker 1: means is it's like it's like that, I don't know,

1016
00:50:50,200 --> 00:50:52,200
Speaker 1: when's the last time you saw you watch shindlows List.

1017
00:50:53,560 --> 00:50:58,160
Speaker 3: You remember in the end of shindoors List, No tell.

1018
00:50:58,000 --> 00:51:00,000
Speaker 1: Me during the know as we get to the left

1019
00:51:00,280 --> 00:51:02,439
Speaker 1: after the movie is over, and we move forward into

1020
00:51:02,440 --> 00:51:05,279
Speaker 1: the future, and we move into the present, and all

1021
00:51:05,320 --> 00:51:08,759
Speaker 1: the surviving Shindler Jews come walking over and and they

1022
00:51:08,920 --> 00:51:11,759
Speaker 1: just still in them, you know, paying their respects it

1023
00:51:11,800 --> 00:51:16,680
Speaker 1: as a grave. There's one one old woman every freaking

1024
00:51:16,719 --> 00:51:18,480
Speaker 1: time I watch this, and I haven't watched it in years,

1025
00:51:18,480 --> 00:51:20,040
Speaker 1: because that movie like destroys me.

1026
00:51:20,600 --> 00:51:21,520
Speaker 3: She always walks by.

1027
00:51:21,560 --> 00:51:23,160
Speaker 1: I can just watch that scene over and over again,

1028
00:51:23,280 --> 00:51:25,959
Speaker 1: and she just walks by and she pats the grave

1029
00:51:26,080 --> 00:51:29,920
Speaker 1: a couple of times, and and it breaks me up

1030
00:51:29,920 --> 00:51:32,960
Speaker 1: every time. That's kind of what we have to do

1031
00:51:33,000 --> 00:51:39,240
Speaker 1: and acknowledge and use this. Like those murals of Arena,

1032
00:51:39,320 --> 00:51:42,840
Speaker 1: if they do get painted around the country.

1033
00:51:42,280 --> 00:51:43,640
Speaker 3: Gonna get some of the're gonna getainted over.

1034
00:51:44,200 --> 00:51:46,960
Speaker 1: But if we use those and we protect those and

1035
00:51:47,000 --> 00:51:49,560
Speaker 1: everybody and every day we take the we take the

1036
00:51:49,719 --> 00:51:52,399
Speaker 1: opportunity to say to ourselves, we walk by them, those

1037
00:51:52,400 --> 00:51:56,920
Speaker 1: who walk by them, take a moment, nod, say silent

1038
00:51:57,400 --> 00:51:59,880
Speaker 1: prayer or whatever you know that's between you and what

1039
00:52:00,040 --> 00:52:00,399
Speaker 1: for God.

1040
00:52:00,480 --> 00:52:04,680
Speaker 3: You may or may not worship Patta reverently once.

1041
00:52:04,600 --> 00:52:06,480
Speaker 1: Or twice, and they go, enough is enough, and you

1042
00:52:06,560 --> 00:52:08,680
Speaker 1: move and you're not gonna let that happen again.

1043
00:52:08,920 --> 00:52:12,080
Speaker 3: If we all do that, this fixes itself in the

1044
00:52:12,120 --> 00:52:13,919
Speaker 3: long run. Yep.

1045
00:52:14,480 --> 00:52:19,400
Speaker 1: It's we have to be both firm, be willing to

1046
00:52:19,440 --> 00:52:22,040
Speaker 1: put violence on the table, use the threat of violence,

1047
00:52:22,640 --> 00:52:28,640
Speaker 1: and to say that's it no more. Everybody's talking about

1048
00:52:28,640 --> 00:52:33,520
Speaker 1: this freaking communist Mandami in New York. Me. If I

1049
00:52:33,560 --> 00:52:35,760
Speaker 1: was in New York, I'd be voting for Curtis Sliwa

1050
00:52:36,360 --> 00:52:40,400
Speaker 1: of the Guardian Angels. I remember when that guy, I

1051
00:52:40,440 --> 00:52:43,319
Speaker 1: remember when we both had hair. That guy has done

1052
00:52:43,360 --> 00:52:49,880
Speaker 1: yeomen's work for New York for forty years. So you know,

1053
00:52:49,960 --> 00:52:54,920
Speaker 1: from my perspective, that's kind of our mindset. It's where

1054
00:52:54,960 --> 00:52:59,120
Speaker 1: it has to be. We have to be both. We

1055
00:52:59,239 --> 00:53:06,080
Speaker 1: have to be resolute, willing to forgive if necessary, and

1056
00:53:06,160 --> 00:53:08,560
Speaker 1: willing to beat people and put them now like a

1057
00:53:08,640 --> 00:53:09,560
Speaker 1: rabbit dog if they're not.

1058
00:53:10,480 --> 00:53:12,719
Speaker 3: That's where we need to be. We need to be

1059
00:53:12,800 --> 00:53:15,560
Speaker 3: prepared to do all of those things at the same

1060
00:53:15,640 --> 00:53:18,600
Speaker 3: time and do it this passionately.

1061
00:53:19,440 --> 00:53:21,320
Speaker 1: And then if it's Charlie, and if it's an image

1062
00:53:21,320 --> 00:53:23,200
Speaker 1: of Charlie Kirk, or if then it was Irena or

1063
00:53:23,239 --> 00:53:27,040
Speaker 1: whoever it is mine, whatever gets you, whatever motivates you

1064
00:53:27,160 --> 00:53:27,640
Speaker 1: to get up.

1065
00:53:27,520 --> 00:53:30,759
Speaker 3: For the game that day. I'm good.

1066
00:53:30,800 --> 00:53:34,279
Speaker 1: I'm good with it because they use George Floyd to

1067
00:53:34,320 --> 00:53:36,960
Speaker 1: burn our cities to the freaking ground and make us pay.

1068
00:53:36,760 --> 00:53:44,880
Speaker 3: For it as a humiliation ritual. Never forgive that ever. Ever.

1069
00:53:46,800 --> 00:53:51,920
Speaker 1: Now let's move forward. So you know the assets are

1070
00:53:52,040 --> 00:53:55,520
Speaker 1: right here, Mark, it's how we use those assets. But

1071
00:53:55,560 --> 00:53:57,960
Speaker 1: we got to get all of the bullshit out of

1072
00:53:57,960 --> 00:53:59,560
Speaker 1: our way so that we could actually go out there

1073
00:53:59,600 --> 00:54:00,800
Speaker 1: and and create.

1074
00:54:01,160 --> 00:54:02,840
Speaker 3: And they don't want us to create.

1075
00:54:02,960 --> 00:54:04,719
Speaker 1: They want us weak, they want us to bite it,

1076
00:54:04,760 --> 00:54:07,040
Speaker 1: they want us afraid, they want us angry at some

1077
00:54:07,160 --> 00:54:09,719
Speaker 1: other guy. I'm not angry at black people. I ain't

1078
00:54:09,760 --> 00:54:16,480
Speaker 1: angry at no. I know exactly who I'm angry at. Yeah,

1079
00:54:16,520 --> 00:54:18,800
Speaker 1: and they woke up a lot of people yesterday.

1080
00:54:19,280 --> 00:54:21,080
Speaker 3: Yeah they did. Yeah they did.

1081
00:54:21,960 --> 00:54:24,960
Speaker 2: And they're all going one direction. Yep, they're all going

1082
00:54:25,000 --> 00:54:27,560
Speaker 2: one direction. And so I think we're gonna wrap it

1083
00:54:27,640 --> 00:54:27,960
Speaker 2: up with that.

1084
00:54:28,000 --> 00:54:28,280
Speaker 3: Tom.

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00:54:28,320 --> 00:54:30,040
Speaker 2: That was a great way to sort of put a

1086
00:54:30,040 --> 00:54:33,040
Speaker 2: pin in it. He laid out the case. You gave

1087
00:54:33,120 --> 00:54:37,000
Speaker 2: us the catalyst, and uh yeah, hopefully this momentum will

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00:54:37,040 --> 00:54:39,719
Speaker 2: keep going. Tom, You're a wealth of information. Like I

1089
00:54:39,719 --> 00:54:42,759
Speaker 2: said when we first started, as fate would have it.

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00:54:42,800 --> 00:54:46,520
Speaker 2: You're probably the perfect person to talk to today. Gold Goats

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00:54:46,560 --> 00:54:49,480
Speaker 2: and Guns is your podcast. Everyone should go download that.

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00:54:49,719 --> 00:54:51,680
Speaker 2: You have the newsletter. We're gonna link to that down below.

1093
00:54:51,760 --> 00:54:53,520
Speaker 2: Anything else people should be paying attention.

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00:54:53,200 --> 00:54:55,600
Speaker 1: To, just my twitter feed. We're are the worst version

1095
00:54:55,640 --> 00:54:58,319
Speaker 1: of me will show up every day. I promise, because

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00:54:58,320 --> 00:55:03,400
Speaker 1: I'm in charge of it. T all right, Tom, We're

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00:55:03,440 --> 00:55:05,840
Speaker 1: gonna test the TfL seventeen twenty eight on Twitter.

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00:55:06,400 --> 00:55:08,520
Speaker 2: Yeah, TfL. All right, We'll link to that down the

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Speaker 2: show notes down below. Thanks so much, Tom, Thank you, Mark.

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Speaker 3: Have a great day. It was It was good catching

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00:55:12,640 --> 00:55:13,080
Speaker 3: up with you man.