1
00:00:00,080 --> 00:00:03,720
Speaker 1: The Fed has their own plan for the Great Reset. Now,

2
00:00:03,880 --> 00:00:06,400
Speaker 1: I am joined today by a returning guest to talk

3
00:00:06,600 --> 00:00:09,600
Speaker 1: about this topic. Now, of course you know about the

4
00:00:09,640 --> 00:00:12,440
Speaker 1: euro DAVS, e c B, the World Economic Forum, and

5
00:00:12,480 --> 00:00:15,600
Speaker 1: Claus Schwab and their plan for the Great Reset. But

6
00:00:16,200 --> 00:00:19,239
Speaker 1: my guest today says that the Federal Reserve is fighting

7
00:00:19,360 --> 00:00:22,079
Speaker 1: against that. There's all types of warring factions, and the

8
00:00:22,079 --> 00:00:25,119
Speaker 1: Federal Reserve has a plan to fight back against that

9
00:00:25,400 --> 00:00:29,320
Speaker 1: enforce their own Great reset by breaking the euro bond market.

10
00:00:29,720 --> 00:00:32,800
Speaker 1: We talk about from what's happening in local politics, how

11
00:00:32,800 --> 00:00:37,000
Speaker 1: the Treasury and Federal fighting in the geopolitical picture with Russia, Ukraine,

12
00:00:37,240 --> 00:00:41,080
Speaker 1: China get involved, the North Stream Pipeline and Germany happening

13
00:00:41,240 --> 00:00:44,760
Speaker 1: all of that, how this all plays out, what happens

14
00:00:44,760 --> 00:00:48,360
Speaker 1: with the bricks nations with gold, with bitcoin, and how

15
00:00:48,400 --> 00:00:52,560
Speaker 1: the Fed inevitably wins and creates an entire new financial

16
00:00:52,600 --> 00:00:56,000
Speaker 1: system in the United States. I'm joined by returning guests

17
00:00:56,000 --> 00:00:59,680
Speaker 1: everyone's favorite geopolitical strategies. I'm talking about Tom Luongo from

18
00:00:59,720 --> 00:01:02,160
Speaker 1: The Gold, Goats and Guns Um. He's an amazing guest.

19
00:01:02,200 --> 00:01:04,319
Speaker 1: I love having him on. It was a great conversation

20
00:01:04,400 --> 00:01:06,320
Speaker 1: when I'm excited to share with you. Let's just go

21
00:01:06,319 --> 00:01:09,800
Speaker 1: ahead and jump right in. All right, Tom, welcome back

22
00:01:09,800 --> 00:01:13,520
Speaker 1: to the show. Uh longley and long anticipated. I'm ready

23
00:01:13,520 --> 00:01:16,040
Speaker 1: to get into this. So thanks for coming by. Sure,

24
00:01:16,080 --> 00:01:18,520
Speaker 1: thank you, Mark. I appreciate it. Yeah, we uh man,

25
00:01:18,680 --> 00:01:20,280
Speaker 1: I threw it out on Twitter last night and we

26
00:01:20,400 --> 00:01:22,720
Speaker 1: got I don't know, tons and tons of comments. Everybody

27
00:01:22,760 --> 00:01:25,120
Speaker 1: wants to hear what Tom has to say, so I

28
00:01:25,200 --> 00:01:27,000
Speaker 1: do as well. So I'm excited to jump into this.

29
00:01:27,520 --> 00:01:31,160
Speaker 1: So you know, um, at the time of this recording,

30
00:01:31,640 --> 00:01:33,920
Speaker 1: we're a day before the mid term, so we're gonna

31
00:01:33,959 --> 00:01:35,759
Speaker 1: try and stay away from that kind of stuff because,

32
00:01:35,760 --> 00:01:38,280
Speaker 1: I mean, who knows what's going to happen. But I think,

33
00:01:38,920 --> 00:01:41,560
Speaker 1: you know, if you look at things from a geopolitical,

34
00:01:41,680 --> 00:01:44,960
Speaker 1: macro geopolitical lens, I think the mid terms are the

35
00:01:44,959 --> 00:01:47,640
Speaker 1: micro of the macro anyway. Right, It's almost like we're

36
00:01:47,720 --> 00:01:50,280
Speaker 1: kind of controlling what we can control, but there's way

37
00:01:50,360 --> 00:01:53,360
Speaker 1: bigger forces controlling the world anyway. Probably do you see

38
00:01:53,360 --> 00:01:57,080
Speaker 1: it like that? Yeah, But I also see that these

39
00:01:57,080 --> 00:01:59,800
Speaker 1: midterm elections are probably the most important in term elections

40
00:01:59,800 --> 00:02:02,640
Speaker 1: that were had in the United States and of decades.

41
00:02:02,760 --> 00:02:04,400
Speaker 1: I mean honestly, I think this is one of those

42
00:02:04,440 --> 00:02:07,360
Speaker 1: moments where if things work out the way I think

43
00:02:07,360 --> 00:02:09,920
Speaker 1: they're gonna work out and with the way everybody expects

44
00:02:09,919 --> 00:02:14,960
Speaker 1: them to work out, um, you know, there's gonna be

45
00:02:14,960 --> 00:02:17,040
Speaker 1: a sea change, you know, at this moment in time,

46
00:02:17,080 --> 00:02:19,120
Speaker 1: as you know, as you you and I've talked about

47
00:02:19,120 --> 00:02:22,079
Speaker 1: this a little bit, and um when I talked about

48
00:02:22,080 --> 00:02:24,960
Speaker 1: it in other forms that you know, if I'm correct

49
00:02:25,040 --> 00:02:27,840
Speaker 1: about my argument that the FED is at war with

50
00:02:28,320 --> 00:02:32,200
Speaker 1: the bigger you know, the bigger group of oligarchs trying

51
00:02:32,240 --> 00:02:37,120
Speaker 1: to you know, take over the world for lack of

52
00:02:37,160 --> 00:02:39,880
Speaker 1: a better term, they run their their bond villans. Right,

53
00:02:40,120 --> 00:02:43,880
Speaker 1: If I'm right about that, then what political changes happen

54
00:02:43,919 --> 00:02:46,440
Speaker 1: here in the United States tomorrow or at the very least,

55
00:02:46,440 --> 00:02:50,800
Speaker 1: are you know, pretended by tomorrow's election results are going

56
00:02:50,880 --> 00:02:55,000
Speaker 1: to mark a sea change in the you know, the

57
00:02:55,080 --> 00:02:56,760
Speaker 1: arc of I honestly, I do want to say the

58
00:02:56,840 --> 00:03:00,280
Speaker 1: ark of history, but it's one more big p the

59
00:03:00,320 --> 00:03:02,920
Speaker 1: foundation of of what the future is going to look like.

60
00:03:02,960 --> 00:03:05,880
Speaker 1: So I wouldn't discount this, even though I do expect

61
00:03:05,880 --> 00:03:11,160
Speaker 1: at a certain level for the results to be uh compromised,

62
00:03:11,200 --> 00:03:13,840
Speaker 1: And you know, it's gonna be a it's gonna be

63
00:03:13,840 --> 00:03:16,440
Speaker 1: a mess, and the Democrats are gonna cheat and the

64
00:03:16,480 --> 00:03:19,240
Speaker 1: law fair and all and all the things we expect, right,

65
00:03:19,600 --> 00:03:22,239
Speaker 1: we expect all of that. But I think they the

66
00:03:22,400 --> 00:03:26,360
Speaker 1: final outcome tomorrow is going to be so overwhelming in

67
00:03:26,440 --> 00:03:29,240
Speaker 1: one paricko a direction that the message will have been

68
00:03:29,280 --> 00:03:33,680
Speaker 1: sent clearly to the quote unquote powers that be what

69
00:03:33,760 --> 00:03:35,800
Speaker 1: I like to call the Davos crowd. That dude, you

70
00:03:35,840 --> 00:03:38,280
Speaker 1: don't have the United States. You just don't have it.

71
00:03:38,320 --> 00:03:40,720
Speaker 1: You're never going to get it, and you know that's

72
00:03:40,760 --> 00:03:42,320
Speaker 1: the end of that, and you might as well stop.

73
00:03:42,360 --> 00:03:46,520
Speaker 1: And of course they won't stop because there old arrogant

74
00:03:46,520 --> 00:03:49,200
Speaker 1: European money and they can't help themselves and they don't

75
00:03:49,320 --> 00:03:53,160
Speaker 1: recognize limits on their behavior. Um, and so we're headed

76
00:03:53,200 --> 00:03:55,560
Speaker 1: towards something really ugly. I think beyond that, but I

77
00:03:55,600 --> 00:03:57,760
Speaker 1: think we have to go through this process of just

78
00:03:57,840 --> 00:04:00,520
Speaker 1: keep telling them though. Yeah, you know, like scares me

79
00:04:00,560 --> 00:04:03,520
Speaker 1: about that. You you mentioned the word arrogant. Is that

80
00:04:04,240 --> 00:04:07,120
Speaker 1: the arrogance that they have? And so I mean, what's

81
00:04:07,120 --> 00:04:11,120
Speaker 1: seen what's going on in Pennsylvania. I mean they're like,

82
00:04:11,880 --> 00:04:13,880
Speaker 1: we'll put up an eggplant and watch what we can do.

83
00:04:14,600 --> 00:04:19,480
Speaker 1: I mean, they're literally going against a TV personality, right whatever,

84
00:04:19,520 --> 00:04:22,040
Speaker 1: a celebrity, a well known person typically that goes a

85
00:04:22,160 --> 00:04:25,240
Speaker 1: very long way. He's a doctor, right, he had his

86
00:04:25,279 --> 00:04:27,760
Speaker 1: own show, like so that you would not only is

87
00:04:27,800 --> 00:04:30,719
Speaker 1: he well known on TV, he's then trusted because he

88
00:04:30,760 --> 00:04:34,480
Speaker 1: was on TV. He's a doctor, right, and he's losing

89
00:04:34,480 --> 00:04:36,760
Speaker 1: to a guy that or whatever. It's a it's a

90
00:04:36,760 --> 00:04:39,560
Speaker 1: close race whatever with a guy that can't even put

91
00:04:39,600 --> 00:04:43,839
Speaker 1: a sentence together. And it's almost like ha ha, the arrogance.

92
00:04:44,120 --> 00:04:49,040
Speaker 1: Back to that word, right, it's like watch well, yeah,

93
00:04:49,080 --> 00:04:52,120
Speaker 1: they ran the mushroom Joe Biden. Yeah, but Biden wasn't

94
00:04:52,160 --> 00:04:54,080
Speaker 1: quite the much join at the time, not as bad

95
00:04:54,120 --> 00:04:55,440
Speaker 1: as he. I mean he hit out in the basement.

96
00:04:55,480 --> 00:04:57,200
Speaker 1: Maybe we didn't know, maybe we could, maybe we could

97
00:04:57,240 --> 00:04:59,400
Speaker 1: just chock it up too. We didn't know as much then,

98
00:04:59,800 --> 00:05:03,560
Speaker 1: but we know now. They they're just able to dry.

99
00:05:03,640 --> 00:05:06,640
Speaker 1: They're just able to manage. Biden's med's well enough to

100
00:05:06,680 --> 00:05:09,200
Speaker 1: get him coherent for the fifteen minutes that they can

101
00:05:09,240 --> 00:05:11,920
Speaker 1: stage management. But he's been this bad for years. So anyway,

102
00:05:12,000 --> 00:05:15,239
Speaker 1: seeing the scene that they just they're running Federman anyway.

103
00:05:15,279 --> 00:05:16,960
Speaker 1: I mean it just shows the arrogance, like half, we

104
00:05:17,000 --> 00:05:18,640
Speaker 1: don't even need to try. We'll just put up anybody,

105
00:05:18,640 --> 00:05:20,000
Speaker 1: We'll put up an egg plant, and we're just gonna

106
00:05:20,040 --> 00:05:25,760
Speaker 1: beat you anyway. So it's pretty scary. Um it is, okay,

107
00:05:25,800 --> 00:05:30,920
Speaker 1: So um, going back to the the war, right, So,

108
00:05:31,800 --> 00:05:33,560
Speaker 1: the way that I kind of see it as being

109
00:05:33,600 --> 00:05:36,320
Speaker 1: a bitcoiner is that everybody says, yeah, but the but

110
00:05:36,440 --> 00:05:38,760
Speaker 1: the but the bankers, essential bankers, the governments will never

111
00:05:38,800 --> 00:05:40,760
Speaker 1: allow that to happen. They don't want to lose control

112
00:05:40,800 --> 00:05:42,520
Speaker 1: over the money, which I would agree, right, It's gonna

113
00:05:42,520 --> 00:05:44,320
Speaker 1: be the battle for the faith of humanity. That's the

114
00:05:44,360 --> 00:05:46,600
Speaker 1: way I framed it up. Um I did. I did

115
00:05:46,600 --> 00:05:49,080
Speaker 1: a big show called titled that the Battle for the

116
00:05:49,080 --> 00:05:51,960
Speaker 1: Faith of Humanity. But um, the way that you so,

117
00:05:52,040 --> 00:05:54,560
Speaker 1: I agree, And so then then you're kind of extrapolate

118
00:05:54,640 --> 00:05:57,159
Speaker 1: down down to well then, um, why does the FED

119
00:05:57,200 --> 00:05:58,719
Speaker 1: want to give up control over money to the e

120
00:05:58,800 --> 00:06:00,800
Speaker 1: c B? Or why do you commercial banks want to

121
00:06:00,800 --> 00:06:03,119
Speaker 1: give up power over money to the Fed? The central banks?

122
00:06:03,160 --> 00:06:05,000
Speaker 1: Or why does this any central bank when to give

123
00:06:05,000 --> 00:06:11,160
Speaker 1: it up to the I M F or whatever? Right right? Yeah, um, yeah,

124
00:06:11,240 --> 00:06:13,760
Speaker 1: I mean that's basically the argument right, I mean, and

125
00:06:14,000 --> 00:06:16,800
Speaker 1: this is not to say that the like, you know, again,

126
00:06:17,760 --> 00:06:19,799
Speaker 1: you know, a bitcoin guy, I love I love bitcoin,

127
00:06:19,880 --> 00:06:22,360
Speaker 1: I love the idea of all of this stuff. And

128
00:06:22,440 --> 00:06:24,880
Speaker 1: I just think that, you know, there's a particular order

129
00:06:24,880 --> 00:06:27,240
Speaker 1: of operations that has happened. We live in a fallen world.

130
00:06:27,480 --> 00:06:29,680
Speaker 1: We live in a world where you know, we're talking

131
00:06:29,680 --> 00:06:32,400
Speaker 1: about people who are you know, turning, who are literal

132
00:06:32,440 --> 00:06:35,920
Speaker 1: bond villains who think that they're gonna make us eat bugs, uh,

133
00:06:36,040 --> 00:06:39,680
Speaker 1: live in pods and allows assistant suicide to be a

134
00:06:39,720 --> 00:06:45,000
Speaker 1: better growth industry than oil exploration. And and that's just

135
00:06:45,080 --> 00:06:47,240
Speaker 1: the way the We're just gonna have to accept that.

136
00:06:47,480 --> 00:06:49,000
Speaker 1: And they don't think that there's going to be any

137
00:06:49,000 --> 00:06:53,120
Speaker 1: pushback from the other factions that have also gotten fat

138
00:06:53,160 --> 00:06:56,880
Speaker 1: and happy on the system that's in currently in the

139
00:06:56,920 --> 00:06:59,600
Speaker 1: process of failing, and that you know, everybody has their

140
00:06:59,640 --> 00:07:01,839
Speaker 1: idea how they can get out of this, and you know,

141
00:07:01,960 --> 00:07:05,320
Speaker 1: klash Bob has his idea, and Jerome Powell and Jamie

142
00:07:05,360 --> 00:07:07,719
Speaker 1: Diamond and others have their ideas and they're gonna fight

143
00:07:07,720 --> 00:07:09,400
Speaker 1: it out, and they're gonna fight it out to the death.

144
00:07:09,440 --> 00:07:12,239
Speaker 1: Guys like and then the British Crown has their ideas,

145
00:07:12,240 --> 00:07:14,280
Speaker 1: and the Russians and the Chinese are saying, you know what,

146
00:07:14,640 --> 00:07:16,560
Speaker 1: we don't have to play any of these games anymore.

147
00:07:16,640 --> 00:07:18,640
Speaker 1: You guys fight it out amongst yourselves. Call us when

148
00:07:18,640 --> 00:07:21,360
Speaker 1: you're done, you know, having a you know, having a

149
00:07:22,600 --> 00:07:25,600
Speaker 1: having a cat fight in the backyard, you know, when

150
00:07:25,640 --> 00:07:27,720
Speaker 1: somebody's finally got you know, no hair left because you

151
00:07:27,800 --> 00:07:29,560
Speaker 1: pulled it all out, and you're all like, you know,

152
00:07:29,880 --> 00:07:32,560
Speaker 1: bloody and battered. You know, hey, we stall boil, we

153
00:07:32,600 --> 00:07:34,960
Speaker 1: still have gas, we still have cheap Chinese crap. You know,

154
00:07:35,000 --> 00:07:36,960
Speaker 1: we're willing to sell you. Hey, let's do the thing,

155
00:07:37,480 --> 00:07:39,560
Speaker 1: you know, and uh we in the Global South, they're

156
00:07:39,560 --> 00:07:41,520
Speaker 1: gonna go do o our thing. And you guys can

157
00:07:42,040 --> 00:07:44,440
Speaker 1: you know, continue to play play your games. And I

158
00:07:44,440 --> 00:07:48,440
Speaker 1: think it's very clear from the way Powell has I

159
00:07:48,800 --> 00:07:54,480
Speaker 1: can't I can't stress enough just how clear Jerome Powell

160
00:07:54,520 --> 00:07:58,360
Speaker 1: has been about what he's prepared to do with interest rates.

161
00:07:58,400 --> 00:08:00,560
Speaker 1: And everybody keeps saying, oh, we gonna pick it on,

162
00:08:01,160 --> 00:08:05,160
Speaker 1: like it's like watching I've done this for years. I

163
00:08:05,240 --> 00:08:06,960
Speaker 1: used to be a sports blogger and I used to

164
00:08:07,000 --> 00:08:09,680
Speaker 1: follow hockey, and I used to remember everybody was always

165
00:08:10,000 --> 00:08:12,640
Speaker 1: trying to parse whatever the GM was trying to say,

166
00:08:12,680 --> 00:08:14,680
Speaker 1: when nine times out of the the tend the GM was

167
00:08:14,720 --> 00:08:16,520
Speaker 1: just telling you, yeah, we're gonna trade this guy because

168
00:08:16,520 --> 00:08:19,840
Speaker 1: he sucks. Okay, we're gonna do this because we suck.

169
00:08:20,240 --> 00:08:22,560
Speaker 1: And this is the way things are. And everybody's like

170
00:08:22,600 --> 00:08:25,800
Speaker 1: doing you know, the thirteen ways from Sunday, trying to

171
00:08:26,360 --> 00:08:29,160
Speaker 1: you know, interpret the GM speak or in this case,

172
00:08:29,240 --> 00:08:31,520
Speaker 1: the diplo speak of what's going on here, like I

173
00:08:31,560 --> 00:08:34,520
Speaker 1: got news for you. He's not talking at central banker ease.

174
00:08:34,760 --> 00:08:37,080
Speaker 1: He's talking in plain language for a reason, interest rates

175
00:08:37,160 --> 00:08:40,280
Speaker 1: until we break something. And the question is that no,

176
00:08:40,559 --> 00:08:42,480
Speaker 1: the question that nobody wants to face. It is the

177
00:08:42,520 --> 00:08:45,839
Speaker 1: one that I've articulated. Daniel D. Martino Booth is articulated,

178
00:08:45,840 --> 00:08:48,840
Speaker 1: and now other people are finally starting to realize, is

179
00:08:48,880 --> 00:08:52,120
Speaker 1: that he's going to break the leverage off short dollar

180
00:08:52,200 --> 00:08:55,599
Speaker 1: loan markets. What we not even know is what we

181
00:08:55,720 --> 00:08:57,840
Speaker 1: called is the ear of dollar markets. And we've already

182
00:08:57,840 --> 00:09:02,000
Speaker 1: gotten our big big shot across the out with the

183
00:09:02,000 --> 00:09:05,839
Speaker 1: the UK pension system collapse that happened a couple of

184
00:09:05,960 --> 00:09:08,360
Speaker 1: a couple of weeks ago, which brought which brought reci

185
00:09:08,480 --> 00:09:10,520
Speaker 1: soon acted power and Liz Trust was thrown out, and

186
00:09:10,800 --> 00:09:13,000
Speaker 1: you know, there was a coup. There was a central

187
00:09:13,000 --> 00:09:17,320
Speaker 1: bank coup in the UK over this for the purposes

188
00:09:17,360 --> 00:09:19,559
Speaker 1: of bringing a betraying breaks it and bringing the UK

189
00:09:19,720 --> 00:09:24,640
Speaker 1: back into the European Uh, your union fold. And the

190
00:09:24,640 --> 00:09:27,280
Speaker 1: battle lines are really clearly drawn once you see this stuff,

191
00:09:27,280 --> 00:09:29,200
Speaker 1: and it's clear that the United States is like they're

192
00:09:29,240 --> 00:09:31,640
Speaker 1: they're just very powerful forces in the United States going no,

193
00:09:32,080 --> 00:09:35,360
Speaker 1: we're not doing that and breakdown that euro thing for

194
00:09:35,360 --> 00:09:38,559
Speaker 1: a minute. So Trust comes in. She's all fired up.

195
00:09:38,800 --> 00:09:41,760
Speaker 1: She's gonna balance the budgets, she's gonna drop the taxes,

196
00:09:41,880 --> 00:09:44,600
Speaker 1: you know, all these different things and then the whole system.

197
00:09:44,679 --> 00:09:47,920
Speaker 1: She's going to frap. Yes, she's gonna bring energy that

198
00:09:47,960 --> 00:09:50,520
Speaker 1: they were going to bring oil production back online off

199
00:09:50,520 --> 00:09:55,320
Speaker 1: the North Slope. Big deal. It was a big deal, big, big,

200
00:09:55,440 --> 00:09:59,360
Speaker 1: big statement of British independence. And within forty five days

201
00:09:59,360 --> 00:10:04,280
Speaker 1: she's forced to step down. Yep, it's gone no, that's no. Yeah,

202
00:10:04,679 --> 00:10:08,199
Speaker 1: But I mean that's I mean, so it's easy to

203
00:10:08,200 --> 00:10:10,320
Speaker 1: look at it from that lens. It's also maybe another

204
00:10:10,360 --> 00:10:13,199
Speaker 1: way to look at it is that, um, there is

205
00:10:13,360 --> 00:10:17,040
Speaker 1: no way back to austerity without massive amounts of pain,

206
00:10:17,679 --> 00:10:21,160
Speaker 1: and so she was trying to do some sort of

207
00:10:21,200 --> 00:10:24,280
Speaker 1: austerity basically trying to get the balanced budget, you know,

208
00:10:24,360 --> 00:10:27,360
Speaker 1: bring taxes down, get the economy going again, bring energy back,

209
00:10:27,600 --> 00:10:29,920
Speaker 1: which is gonna be a very painful process and nobody's

210
00:10:29,960 --> 00:10:32,320
Speaker 1: gonna be willing to go through that pain. So could

211
00:10:32,320 --> 00:10:34,400
Speaker 1: it have been that she was fired up to really

212
00:10:34,400 --> 00:10:37,400
Speaker 1: affect real positive change but the pain wasn't able to

213
00:10:37,400 --> 00:10:39,280
Speaker 1: be endured, or you think it was actually more of

214
00:10:39,280 --> 00:10:42,320
Speaker 1: the conspiracy. No, no, this is very clearly that. Okay,

215
00:10:42,480 --> 00:10:45,679
Speaker 1: So remember Mark that I have said this many I've

216
00:10:45,679 --> 00:10:48,400
Speaker 1: said this before, and I've called the German austerity and

217
00:10:48,440 --> 00:10:50,960
Speaker 1: it's the kind that the I m F always um

218
00:10:51,080 --> 00:10:53,079
Speaker 1: imparts on the people that they want to colonize and

219
00:10:53,120 --> 00:10:55,840
Speaker 1: take over. And what they do is they raise taxes

220
00:10:56,520 --> 00:11:02,560
Speaker 1: and they raise regulations and they cut spending. Okay, now,

221
00:11:02,600 --> 00:11:04,720
Speaker 1: the cut spending part is the one that you know,

222
00:11:05,200 --> 00:11:08,800
Speaker 1: we Australia libertarians, Yeah, cut spending government spending, his government

223
00:11:08,920 --> 00:11:11,679
Speaker 1: waste is terrible. But raising taxes at the same time,

224
00:11:12,200 --> 00:11:14,240
Speaker 1: and then we expect that GDP is not going to

225
00:11:14,280 --> 00:11:18,160
Speaker 1: continue to contract like it's always about protecting the bondholders.

226
00:11:18,200 --> 00:11:20,439
Speaker 1: It's always about protecting the bond markets and the credit

227
00:11:20,520 --> 00:11:23,680
Speaker 1: rating of the country. That's more important than the lives

228
00:11:23,679 --> 00:11:26,640
Speaker 1: and welfare of the people. Do you see that? Do

229
00:11:26,679 --> 00:11:30,120
Speaker 1: you see the messaging here? It's always the same story.

230
00:11:30,480 --> 00:11:32,640
Speaker 1: What Trust was going to do was going to be.

231
00:11:33,679 --> 00:11:36,480
Speaker 1: It's similar to what Donald Trump did and in many

232
00:11:36,480 --> 00:11:40,360
Speaker 1: ways um actually did do, which is, yeah, he raised

233
00:11:40,400 --> 00:11:43,320
Speaker 1: some spending and he cut taxes, and he was cutting

234
00:11:43,360 --> 00:11:47,560
Speaker 1: regulations dramatically across multiple vectors as much as he was

235
00:11:47,600 --> 00:11:51,000
Speaker 1: allowed to, which would free up capital and make the

236
00:11:51,040 --> 00:11:55,160
Speaker 1: capital that's deployed, you know, more efficient by getting rid

237
00:11:55,200 --> 00:11:57,400
Speaker 1: of a lot of taxes on shoring a lot of

238
00:11:57,400 --> 00:12:01,160
Speaker 1: offshore capital that was sitting in bank accounts in Ireland

239
00:12:01,160 --> 00:12:03,800
Speaker 1: and you know, tax havens around other tax havens around

240
00:12:03,800 --> 00:12:08,000
Speaker 1: the world, and bring that money back and allow for

241
00:12:08,040 --> 00:12:10,439
Speaker 1: a reinvestment cycle. Well at the same time, yeah, we're

242
00:12:10,440 --> 00:12:12,240
Speaker 1: gonna have to spend some money that we don't have.

243
00:12:12,360 --> 00:12:16,040
Speaker 1: But yeah, so, like, I'm not crazy about that plan.

244
00:12:16,160 --> 00:12:19,600
Speaker 1: I think that that Trump was Trump's plan is fatally flawed.

245
00:12:20,440 --> 00:12:24,040
Speaker 1: But by the same token, you know, he's a Keynesian

246
00:12:24,120 --> 00:12:27,200
Speaker 1: in that respect, he's a debt guy, and you know,

247
00:12:27,240 --> 00:12:30,440
Speaker 1: Trust was running basically the same plan, and for the

248
00:12:30,559 --> 00:12:34,000
Speaker 1: UK guilt market to react the way it did was

249
00:12:34,080 --> 00:12:36,920
Speaker 1: clearly an operation from outside forces to bring her down,

250
00:12:38,000 --> 00:12:42,400
Speaker 1: clearly in operation, because nothing she proposed was that catastrophic.

251
00:12:42,760 --> 00:12:46,920
Speaker 1: I'm sorry. And anybody who believes that, you know, I'm sorry,

252
00:12:47,040 --> 00:12:50,000
Speaker 1: like you know, still walks around with their mask on

253
00:12:50,040 --> 00:12:53,280
Speaker 1: outside like I'm sorry. That's how that's done. What happened

254
00:12:53,360 --> 00:12:56,679
Speaker 1: was the idea that there's one last the idea that

255
00:12:56,720 --> 00:13:00,840
Speaker 1: the British pound would drop nine in two days over

256
00:13:00,920 --> 00:13:06,719
Speaker 1: this is just ludicrous. It's just ludicrous. So um yeah,

257
00:13:06,760 --> 00:13:09,480
Speaker 1: obviously that you know, the pound dropped, the yields went up,

258
00:13:09,600 --> 00:13:13,800
Speaker 1: the pensioners were over levered, they couldn't cover, they couldn't cover, right,

259
00:13:13,840 --> 00:13:16,760
Speaker 1: their margin calls. Um. But you're saying for the pound

260
00:13:16,760 --> 00:13:18,920
Speaker 1: to drop that far that fast, there was probably some

261
00:13:18,960 --> 00:13:21,959
Speaker 1: outside manipulation, sort of like when George Soros got famously

262
00:13:22,040 --> 00:13:25,000
Speaker 1: rich in a day. Right, Oh you don't think Soros

263
00:13:25,000 --> 00:13:27,240
Speaker 1: was not involved in this? Like, as far as I'm concerned,

264
00:13:27,320 --> 00:13:29,160
Speaker 1: is all they had to do was dropped twenty to

265
00:13:29,240 --> 00:13:32,160
Speaker 1: fifty million dollars in the UK CDs market, and you know,

266
00:13:32,280 --> 00:13:34,360
Speaker 1: the UK guilt CDs market and blow the thing up,

267
00:13:34,679 --> 00:13:37,320
Speaker 1: which is kind of what they did, you know, I

268
00:13:37,360 --> 00:13:39,880
Speaker 1: mean that's how they always do. It's like CDs IS

269
00:13:39,960 --> 00:13:43,320
Speaker 1: or you know, credit, the false swaps, their their fictions. Dude,

270
00:13:43,320 --> 00:13:46,719
Speaker 1: I'm sorry, Like they're not. They're not leading indicators of

271
00:13:46,840 --> 00:13:50,559
Speaker 1: anything other than mouthfeasance by people with way too much

272
00:13:50,800 --> 00:13:53,400
Speaker 1: money on their hands that they got, you know, from

273
00:13:53,840 --> 00:13:56,319
Speaker 1: for free from the central banks to screw with markets

274
00:13:56,360 --> 00:13:58,760
Speaker 1: and then right headline. So you don't think the CDs

275
00:13:58,880 --> 00:14:01,800
Speaker 1: is needed, So you don't think that the CDs is

276
00:14:01,880 --> 00:14:04,560
Speaker 1: a more free market that's a better indication of what's

277
00:14:04,559 --> 00:14:07,640
Speaker 1: going on. Absolutely not, absolutely not. They are the most

278
00:14:07,640 --> 00:14:10,880
Speaker 1: manipulated markets in the world. They're more manipulated than gold.

279
00:14:11,760 --> 00:14:15,400
Speaker 1: I'm sorry. The credit w sound great in theory, they're

280
00:14:15,400 --> 00:14:17,840
Speaker 1: not used that way. Sure, if we have, if we

281
00:14:17,960 --> 00:14:20,320
Speaker 1: if we didn't have completely captured markets, and we didn't

282
00:14:20,360 --> 00:14:23,840
Speaker 1: have completely central bank and you know Ald Gark run markets,

283
00:14:23,840 --> 00:14:27,480
Speaker 1: sure CDs IS would be a fine you know, market innovation.

284
00:14:28,040 --> 00:14:30,480
Speaker 1: But please, like you know, I'm sorry, I just don't.

285
00:14:31,000 --> 00:14:32,640
Speaker 1: I've seen this too many I've seen this game too

286
00:14:32,680 --> 00:14:35,040
Speaker 1: many times. I don't buy it. So going back to

287
00:14:35,440 --> 00:14:37,880
Speaker 1: Joan Powell in the last f f O MC meeting.

288
00:14:37,920 --> 00:14:41,160
Speaker 1: That's exactly what he said, is that we're well, the

289
00:14:41,240 --> 00:14:43,880
Speaker 1: danger is not doing The danger isn't The danger is

290
00:14:43,920 --> 00:14:46,560
Speaker 1: doing too little. Uh, we'd rather go too far. We'd

291
00:14:46,640 --> 00:14:48,440
Speaker 1: rather break things because we have the tools to put

292
00:14:48,440 --> 00:14:50,960
Speaker 1: things back together again, right, we can put we can

293
00:14:50,960 --> 00:14:53,560
Speaker 1: put Humpty Dumpty back together again. So he's willing to

294
00:14:53,720 --> 00:14:55,680
Speaker 1: go too far. I mean, he he says he wants

295
00:14:55,680 --> 00:14:58,280
Speaker 1: to go too far and break it. Um, break it,

296
00:14:58,520 --> 00:15:01,320
Speaker 1: whatever it being most to most times we think of

297
00:15:01,640 --> 00:15:06,560
Speaker 1: breaking it being the liquidity in the in the financial system. Um,

298
00:15:06,680 --> 00:15:10,600
Speaker 1: you're talking to break inflation. Well, people think it's I

299
00:15:10,960 --> 00:15:13,360
Speaker 1: think people think, well, people think he says, I'm gonna

300
00:15:13,360 --> 00:15:17,840
Speaker 1: break inflation, and then you know, the more savvy among

301
00:15:17,960 --> 00:15:20,440
Speaker 1: us go, yeah, but that's you're not breaking inflation. You're

302
00:15:20,440 --> 00:15:24,040
Speaker 1: not breaking supply side inflation problems with the man side tools.

303
00:15:24,040 --> 00:15:26,320
Speaker 1: You just ain't doing it right. Yeah, And I mean,

304
00:15:26,360 --> 00:15:28,240
Speaker 1: I think he started to pick a fight that he

305
00:15:28,560 --> 00:15:31,720
Speaker 1: realized maybe he can't win, which is trying to basically

306
00:15:31,760 --> 00:15:34,280
Speaker 1: bring inflation down which is being caused by energy prices,

307
00:15:34,760 --> 00:15:37,600
Speaker 1: and OPEC just says, well, we'll just cut production. You

308
00:15:37,640 --> 00:15:40,120
Speaker 1: want to manipulate the prices down. We'll just cut production.

309
00:15:40,160 --> 00:15:41,880
Speaker 1: We'll go a lot longer than you can. Like, you're

310
00:15:41,880 --> 00:15:46,920
Speaker 1: not gonna win that war. Well, that's all Jenny Ellen. Jenny, Look,

311
00:15:46,960 --> 00:15:48,880
Speaker 1: I think the Feds that were with the Treasury, I

312
00:15:48,920 --> 00:15:51,280
Speaker 1: think I think Biden works for I think the Biden

313
00:15:51,320 --> 00:15:54,040
Speaker 1: administration works for Domas. I think Jenny Yellen is a

314
00:15:54,080 --> 00:15:58,080
Speaker 1: globalist who who her entire time has had the Chairman

315
00:15:58,080 --> 00:16:00,480
Speaker 1: of the Federal Reserve. Along with Ben BERNACKI worked for

316
00:16:00,760 --> 00:16:03,840
Speaker 1: work for European colonial powers to make sure that the

317
00:16:03,880 --> 00:16:07,280
Speaker 1: United States monetary policy was subordinate to them. These are

318
00:16:07,280 --> 00:16:11,240
Speaker 1: the guys that. Okay, so I've I've talked about SOFUR

319
00:16:11,480 --> 00:16:14,760
Speaker 1: and the move in the past about the United States

320
00:16:14,760 --> 00:16:18,000
Speaker 1: moving off of Library for debt debt indexing to SOFA,

321
00:16:18,240 --> 00:16:20,720
Speaker 1: the secured overnif funding right, which by the way, is

322
00:16:20,760 --> 00:16:23,640
Speaker 1: fully in effect now as of two all debt in

323
00:16:23,640 --> 00:16:26,200
Speaker 1: the United States is is issued index to SOFA, and

324
00:16:26,240 --> 00:16:28,360
Speaker 1: none of it is index of relative to Liebrary. It

325
00:16:28,360 --> 00:16:30,640
Speaker 1: hasn't all been switched over, but all new debt is

326
00:16:30,640 --> 00:16:35,120
Speaker 1: issued to that right. It has. I mean they took

327
00:16:35,160 --> 00:16:36,840
Speaker 1: they took their time, and they rolled this out over

328
00:16:36,880 --> 00:16:40,000
Speaker 1: almost five years, they started rolling this forward. They started

329
00:16:40,080 --> 00:16:45,520
Speaker 1: rolling people into sofa. But here's the gig. Sofur was

330
00:16:45,640 --> 00:16:48,520
Speaker 1: designed by the Federal Reserve back in two thousand and eight.

331
00:16:49,360 --> 00:16:52,240
Speaker 1: The original white papers on sofa we're presented to the

332
00:16:52,320 --> 00:16:56,920
Speaker 1: f o MC in two thousand seven before the financial crisis. Like,

333
00:16:57,080 --> 00:16:59,960
Speaker 1: they knew what was coming, they knew what they want

334
00:17:00,120 --> 00:17:05,000
Speaker 1: it to do. Greenspan wanted to do this like and

335
00:17:05,040 --> 00:17:09,359
Speaker 1: then Obama comes into office, him Geitner, operann Ky and

336
00:17:09,400 --> 00:17:11,240
Speaker 1: then subsequently yelling and all the rest. They just put

337
00:17:11,240 --> 00:17:12,520
Speaker 1: it on the back of burner. They didn't do a

338
00:17:12,600 --> 00:17:15,200
Speaker 1: thing with it for ten years. We got instead, we

339
00:17:15,240 --> 00:17:22,040
Speaker 1: got shipped like Dodd Frank and and uh, the the

340
00:17:22,080 --> 00:17:25,119
Speaker 1: CEO uh you know, all the all the stupid stuff

341
00:17:25,160 --> 00:17:29,920
Speaker 1: that we got. We got the yeah, everybody complaining about

342
00:17:29,920 --> 00:17:31,560
Speaker 1: class tego. I can never remember the name of the

343
00:17:31,960 --> 00:17:34,480
Speaker 1: bill that where the CEOs are now responsible for their

344
00:17:35,240 --> 00:17:40,120
Speaker 1: um uh for their their income statements with that one

345
00:17:40,760 --> 00:17:43,600
Speaker 1: um the names escaping me. Now, all that stupid stuff

346
00:17:43,680 --> 00:17:47,320
Speaker 1: is opposed to getting a real When if anybody looked

347
00:17:47,320 --> 00:17:50,960
Speaker 1: at the two you know, it looked at previous financial crises,

348
00:17:51,200 --> 00:17:54,800
Speaker 1: all right, there was always a if the fed raisers

349
00:17:54,800 --> 00:17:58,920
Speaker 1: interest rates, it's going to break something overseas, and then

350
00:17:59,040 --> 00:18:01,280
Speaker 1: it always then try is late over here because we

351
00:18:01,320 --> 00:18:05,119
Speaker 1: have globalized markets well in the you know, once Trump

352
00:18:05,160 --> 00:18:08,680
Speaker 1: was put into power, and once um Powell was made

353
00:18:09,040 --> 00:18:10,879
Speaker 1: the chairman of the Federal Reserve and John Williams was

354
00:18:10,880 --> 00:18:14,399
Speaker 1: made the head of the New York Fed, SOFUR was

355
00:18:14,440 --> 00:18:16,280
Speaker 1: all of a sudden dusted off and they started they

356
00:18:16,280 --> 00:18:19,879
Speaker 1: started moving it through almost immediately, and then you know,

357
00:18:20,040 --> 00:18:22,040
Speaker 1: with a four year four and a half year rollout

358
00:18:22,080 --> 00:18:24,600
Speaker 1: period in order to get everybody you know, in order

359
00:18:24,640 --> 00:18:26,359
Speaker 1: to test it and make it, make sure it worked

360
00:18:26,320 --> 00:18:30,480
Speaker 1: and everything else. And then you know, once that was

361
00:18:30,520 --> 00:18:34,440
Speaker 1: in place, then the decoupling physical decoupling of American and

362
00:18:34,600 --> 00:18:36,600
Speaker 1: US banks started, which is where it brings us to

363
00:18:36,640 --> 00:18:39,359
Speaker 1: the REBO crisis, to where JP Morgan star of the

364
00:18:39,359 --> 00:18:42,439
Speaker 1: market of US treasuries because they refused to reap repo

365
00:18:43,119 --> 00:18:49,879
Speaker 1: um uh European sovereign debt okay, take European sovereignists collateral

366
00:18:49,920 --> 00:18:52,200
Speaker 1: for REBO contracts that you know, the euro dollar system

367
00:18:52,240 --> 00:18:54,199
Speaker 1: then started to employ. Jeff Snyder went over all this

368
00:18:54,320 --> 00:18:56,560
Speaker 1: for years, telling everybody what was going to happen. He

369
00:18:56,600 --> 00:18:58,760
Speaker 1: was right. He just was wrong about the fact that

370
00:18:58,840 --> 00:19:01,840
Speaker 1: Sofur woke that link and now this time we can

371
00:19:01,880 --> 00:19:04,160
Speaker 1: do the same. There ain't gonna be a eurodollar five

372
00:19:04,240 --> 00:19:06,160
Speaker 1: like he thinks there's gonna be. There was the first

373
00:19:06,160 --> 00:19:08,800
Speaker 1: four times we had an aversion of the eurodollar futures curve. Like,

374
00:19:08,840 --> 00:19:11,480
Speaker 1: I'm sorry, he's wrong. We can see it happening. He's

375
00:19:11,520 --> 00:19:14,919
Speaker 1: wrong because the people who are screaming today about the

376
00:19:14,920 --> 00:19:17,960
Speaker 1: FED raising interest rates are all the people who who

377
00:19:18,160 --> 00:19:20,600
Speaker 1: are most vulnerable to the FED raising interest rates in

378
00:19:20,600 --> 00:19:23,400
Speaker 1: ain't the New York banks. They were keeping their mouth shut.

379
00:19:23,440 --> 00:19:26,600
Speaker 1: Has anybody have you seen anybody at JP Morgan or

380
00:19:26,880 --> 00:19:29,960
Speaker 1: Golden Sacks or City Group or Wells and Wells, the

381
00:19:30,359 --> 00:19:34,040
Speaker 1: biggest mortgage under in the world, is not complaining about

382
00:19:34,560 --> 00:19:40,440
Speaker 1: the FED um pushing mortgage rates above seven Yeah, well, yeah,

383
00:19:40,480 --> 00:19:44,080
Speaker 1: that's interesting. Well silence on this is definite. And Jamie

384
00:19:44,080 --> 00:19:47,600
Speaker 1: Diamond's only talking about energy. He's not talking about rates,

385
00:19:47,640 --> 00:19:50,680
Speaker 1: He's not talking about any of that, none of that stuff.

386
00:19:50,720 --> 00:19:52,919
Speaker 1: What he's talking about is exactly when you what what

387
00:19:53,040 --> 00:19:56,720
Speaker 1: policy is going to change? You know, Biden, Biden is

388
00:19:56,720 --> 00:19:58,480
Speaker 1: gonna you know, he came out the other day and

389
00:19:58,520 --> 00:20:01,280
Speaker 1: so there's not gonna be any new any new oil

390
00:20:01,320 --> 00:20:04,200
Speaker 1: and gas or cold drilling, you know, while he's in office.

391
00:20:04,240 --> 00:20:05,639
Speaker 1: Or Okay, we'll take you to your word. That means

392
00:20:05,680 --> 00:20:08,280
Speaker 1: we're gonna get ridy of that, dude. It depending on

393
00:20:08,359 --> 00:20:10,760
Speaker 1: what happens to Marrows. What tomorrow is so important? Like

394
00:20:10,920 --> 00:20:13,760
Speaker 1: if the Republicans take seventy seats and five in the

395
00:20:13,760 --> 00:20:16,439
Speaker 1: House and five to six seats in the Senate and

396
00:20:16,520 --> 00:20:19,520
Speaker 1: thirty five state legislators and thirty five governorships, do you

397
00:20:19,600 --> 00:20:23,200
Speaker 1: think there's a Democrat in the world that's up for grabs,

398
00:20:23,320 --> 00:20:26,720
Speaker 1: that's up for re election in is gonna listen to

399
00:20:26,720 --> 00:20:29,560
Speaker 1: a word Chuck Schumer has to say, I got Mark,

400
00:20:29,600 --> 00:20:31,160
Speaker 1: I got news for you. I'm laying three to one.

401
00:20:31,200 --> 00:20:34,479
Speaker 1: I'm only in one to not only odds that Schumer

402
00:20:34,560 --> 00:20:39,800
Speaker 1: gets beat tomorrow, Schumer in New York because Kathy Hostel

403
00:20:39,880 --> 00:20:43,320
Speaker 1: is gonna lose, and they lost. They lost. They had

404
00:20:43,320 --> 00:20:48,000
Speaker 1: the vote harvest three seats in western New York in

405
00:20:48,960 --> 00:20:53,440
Speaker 1: to really maintain their their majority in the House, which,

406
00:20:53,480 --> 00:20:56,280
Speaker 1: by the way, everybody forgets about. But whiles while everybody

407
00:20:56,280 --> 00:20:58,440
Speaker 1: was worried about what was going to happen in January six,

408
00:20:59,000 --> 00:21:01,560
Speaker 1: and whether Trump was gonna, you know, I don't know,

409
00:21:01,640 --> 00:21:06,320
Speaker 1: lead an insurrection against against the Biden's inauguration and the

410
00:21:06,400 --> 00:21:08,520
Speaker 1: and the electoral College and all this stuff. These people

411
00:21:08,600 --> 00:21:12,480
Speaker 1: were back there vote harvesting like three seats in Rochester,

412
00:21:12,560 --> 00:21:16,160
Speaker 1: Buffalo and one other seat to get these people over

413
00:21:16,200 --> 00:21:19,000
Speaker 1: the line when they had lost on election by four points.

414
00:21:21,680 --> 00:21:24,280
Speaker 1: So don't kid yourself. The whole thing was stage managed,

415
00:21:24,280 --> 00:21:29,639
Speaker 1: and and and and and uh so tomorrow the comment

416
00:21:29,680 --> 00:21:31,359
Speaker 1: with seven, do you think anybody is gonna listen to

417
00:21:31,359 --> 00:21:34,600
Speaker 1: what thing Jack Schimer says? If he squeaks by tomorrow?

418
00:21:34,640 --> 00:21:39,040
Speaker 1: Even are you kidding me this? They'll be calling for

419
00:21:39,080 --> 00:21:42,520
Speaker 1: his head this morning. Two hours ago, Elon Musk tweeted

420
00:21:42,560 --> 00:21:45,680
Speaker 1: out to independent minded voters, shared power curbs the worst

421
00:21:45,720 --> 00:21:48,119
Speaker 1: excesses of both parties. Therefore, I recommend voting for a

422
00:21:48,119 --> 00:21:52,480
Speaker 1: Republican Congress, I mean the president of the Democratic Yeah, no,

423
00:21:52,680 --> 00:21:55,879
Speaker 1: I like you? When When when when a former progressive

424
00:21:55,880 --> 00:21:58,560
Speaker 1: like Tulsea Gabbard sounds more based than ninety percent of

425
00:21:58,560 --> 00:22:01,320
Speaker 1: the libertarians? Like I see Twitter? Anymore? You know that

426
00:22:01,359 --> 00:22:06,480
Speaker 1: there's a massive political alignment. Realignment, um, I mean the

427
00:22:07,359 --> 00:22:10,560
Speaker 1: going back to the FED. You know, tightening the screws,

428
00:22:10,600 --> 00:22:13,400
Speaker 1: trying to break the zero dollar markets, you know, trying

429
00:22:13,440 --> 00:22:16,600
Speaker 1: to defend the dollar, etcetera, etcetera. Um, you just mentioned

430
00:22:16,760 --> 00:22:19,159
Speaker 1: briefly the war between the Fed and the Treasury. So

431
00:22:19,200 --> 00:22:22,120
Speaker 1: now Janet Yellen saying, well, if you're not gonna help us, which,

432
00:22:22,240 --> 00:22:24,360
Speaker 1: by the way, all the politicians are now jumping into

433
00:22:24,359 --> 00:22:25,960
Speaker 1: the Fed. Hey, you're going too fast, too far. You

434
00:22:26,000 --> 00:22:29,200
Speaker 1: got the u N dumping into the u n's like, hey, stop,

435
00:22:29,200 --> 00:22:31,679
Speaker 1: you're going too fast, too far. Everybody's jumping in. And

436
00:22:31,720 --> 00:22:33,480
Speaker 1: now the Treasury Janet Yellen is like, well, we'll just

437
00:22:33,480 --> 00:22:35,840
Speaker 1: start buying. We'll just start buying the treasuries again. Then

438
00:22:36,359 --> 00:22:38,399
Speaker 1: we'll just take we'll just do try and do yield

439
00:22:38,400 --> 00:22:42,000
Speaker 1: curve control through the U. S. Treasury Department and and

440
00:22:42,119 --> 00:22:45,479
Speaker 1: run around the Fed. Yeah, okay, good luck with that. Janet.

441
00:22:45,800 --> 00:22:47,920
Speaker 1: You've got four hundred billion dollars in the two and

442
00:22:48,080 --> 00:22:50,639
Speaker 1: a one point five trillion dollar deficit or whatever the

443
00:22:50,720 --> 00:22:53,800
Speaker 1: number is. Have fun. Yeah, like, next year you're gonna

444
00:22:53,800 --> 00:22:56,399
Speaker 1: have a massive deficit. You you've had the only reason

445
00:22:56,480 --> 00:22:58,359
Speaker 1: she can talk that way now is because she just

446
00:22:58,440 --> 00:23:02,320
Speaker 1: had the the big just um tax surplus and and

447
00:23:02,440 --> 00:23:06,040
Speaker 1: you know, taxing, uh not increase your over your taxing

448
00:23:06,200 --> 00:23:09,440
Speaker 1: um collections increase in the history history because of inflation,

449
00:23:09,720 --> 00:23:12,080
Speaker 1: that's going to happen extra gains and because of all that,

450
00:23:12,160 --> 00:23:15,240
Speaker 1: and that's certainly not going to happen. Best best case scenario,

451
00:23:15,960 --> 00:23:18,119
Speaker 1: we just I mean, we already have a drop in

452
00:23:18,160 --> 00:23:20,920
Speaker 1: the market. So best case scenario, we have a twenty drop.

453
00:23:20,920 --> 00:23:24,000
Speaker 1: It holds here. Um that alone is going to crush

454
00:23:24,080 --> 00:23:28,000
Speaker 1: tax receipts, right, I think, yeah, So they have to

455
00:23:28,000 --> 00:23:30,719
Speaker 1: start cutting spending like you wouldn't believe. And now the

456
00:23:30,720 --> 00:23:33,040
Speaker 1: Fed is losing money, right, So the Fed isn't gonna

457
00:23:33,040 --> 00:23:34,800
Speaker 1: be able to pay the treasury. So they're gonna lose

458
00:23:34,880 --> 00:23:36,639
Speaker 1: hundreds of billions of dollars on that as well. I

459
00:23:36,680 --> 00:23:38,959
Speaker 1: mean it's it's well, they're gonna lose that. I think

460
00:23:38,960 --> 00:23:42,840
Speaker 1: they're gonna lose forty billion dollars they made. I mean,

461
00:23:42,840 --> 00:23:45,560
Speaker 1: they've always remitted somewhere between fifty and fifty billion dollars

462
00:23:45,560 --> 00:23:47,679
Speaker 1: a year. I think this last quarter they were they

463
00:23:47,680 --> 00:23:50,280
Speaker 1: were going to be short fifteen billion dollars. Like, it's

464
00:23:50,320 --> 00:23:52,399
Speaker 1: not all I mean, it's not a lot. I'm sorry.

465
00:23:52,400 --> 00:23:54,560
Speaker 1: And the in the grand scheme of things that I

466
00:23:54,560 --> 00:23:56,480
Speaker 1: I know that Judy Shelton makes a big deal about this,

467
00:23:56,520 --> 00:23:59,520
Speaker 1: and I'm not disagreeing with her. Politically, it's gonna look

468
00:23:59,520 --> 00:24:01,800
Speaker 1: bad for the politically, the Democrats are gonna make hey

469
00:24:01,800 --> 00:24:05,000
Speaker 1: about this. Don't don't kid yourself. From a political perspective,

470
00:24:05,000 --> 00:24:08,760
Speaker 1: it's a lot of money. From a budgetary perspective, it's

471
00:24:08,760 --> 00:24:10,919
Speaker 1: not a lot of money. They can just stop. They

472
00:24:10,920 --> 00:24:13,280
Speaker 1: can just stop sending three billion dollars a month to Ukraine. Yeah,

473
00:24:14,240 --> 00:24:16,240
Speaker 1: but they don't want to do that. Let's let's talk

474
00:24:16,240 --> 00:24:19,920
Speaker 1: about that. Let's let's look at the vapors the minute

475
00:24:19,920 --> 00:24:23,640
Speaker 1: I mentioned let's let's let's jump up to that level now. So,

476
00:24:24,280 --> 00:24:26,320
Speaker 1: and I think this is uh, you know, I try

477
00:24:26,359 --> 00:24:28,440
Speaker 1: to think a little bit longer term, right, I mean,

478
00:24:28,480 --> 00:24:31,239
Speaker 1: it's not not micromanagers. If we think longer term, I mean,

479
00:24:31,440 --> 00:24:34,720
Speaker 1: we can see the whole world is changing rapidly. I mean, certainly,

480
00:24:35,040 --> 00:24:38,760
Speaker 1: certainly the threat is moving from this multipolar homogeney to

481
00:24:38,920 --> 00:24:41,399
Speaker 1: uh you know or sorry, a singular polar to a

482
00:24:41,480 --> 00:24:45,359
Speaker 1: multipolar world. Uh. And it seems that we have this

483
00:24:45,440 --> 00:24:47,280
Speaker 1: rush of Ukraine thing kind of at the center of this.

484
00:24:47,400 --> 00:24:49,000
Speaker 1: I know you've been talking about this a lot. We've

485
00:24:49,040 --> 00:24:53,120
Speaker 1: had conversations about it. Um. Maybe it's a war of globalism,

486
00:24:53,160 --> 00:24:56,639
Speaker 1: but it's like really accelerating. Um to your point, right,

487
00:24:56,680 --> 00:24:58,359
Speaker 1: We're sending all this money over there, which is of

488
00:24:58,359 --> 00:25:01,320
Speaker 1: course going into all types of different people pockets. But

489
00:25:02,480 --> 00:25:05,760
Speaker 1: then we have we have this acceleration which you know,

490
00:25:05,840 --> 00:25:10,080
Speaker 1: the nord Stream pipeline got bombed. News on the wires

491
00:25:10,080 --> 00:25:13,640
Speaker 1: coming out that now everybody in the intelligence community supposedly

492
00:25:13,720 --> 00:25:17,360
Speaker 1: knows who did it, Uh, NATO, we'll call it that,

493
00:25:17,640 --> 00:25:20,040
Speaker 1: Alex Craner and I said three days afterwards, was the

494
00:25:20,040 --> 00:25:22,919
Speaker 1: Brits and the polls. I mean, we've all grown up.

495
00:25:22,920 --> 00:25:25,760
Speaker 1: We've all grown up watching murder mysteries and detective shows

496
00:25:25,800 --> 00:25:28,040
Speaker 1: on TV. Like it's not hard, Like, Okay, who are

497
00:25:28,040 --> 00:25:30,120
Speaker 1: the players? What are the motives? I've got? Motive means

498
00:25:30,119 --> 00:25:34,320
Speaker 1: an opportunity, right, um. And now you you know, and

499
00:25:34,320 --> 00:25:37,200
Speaker 1: and and if you look back through a long geopolitical lens,

500
00:25:37,240 --> 00:25:40,960
Speaker 1: it seems like the strategy has always been to keep

501
00:25:41,040 --> 00:25:46,359
Speaker 1: Germany away from Russia. Right in Germany, if Germany's manufacturing

502
00:25:46,359 --> 00:25:49,000
Speaker 1: can get the cheap, cheap commodity inputs from Russia, like

503
00:25:49,119 --> 00:25:52,639
Speaker 1: that's a good match, right, Um, Yeah, it is a

504
00:25:52,640 --> 00:25:56,080
Speaker 1: good match. And it's clear. It's clear that the French

505
00:25:56,240 --> 00:26:00,679
Speaker 1: and the and the British have always opposed, you know,

506
00:26:01,040 --> 00:26:03,520
Speaker 1: traditionally always opposed to Germans, and the and the Russians

507
00:26:03,520 --> 00:26:06,960
Speaker 1: are getting together. Um. American foreign policy is just downstream

508
00:26:06,960 --> 00:26:11,040
Speaker 1: of British foreign policy because freaking Brits have infiltrated pretty

509
00:26:11,119 --> 00:26:14,600
Speaker 1: much every level of our freaking government. UM. Our special

510
00:26:14,640 --> 00:26:17,560
Speaker 1: relationship with the Brits is, you know, mostly they tell

511
00:26:17,640 --> 00:26:20,280
Speaker 1: us what to do and we run around like Rambo

512
00:26:20,320 --> 00:26:23,480
Speaker 1: without a drop strap and get it drawing. Um. And

513
00:26:23,520 --> 00:26:25,800
Speaker 1: if not, then they meme it into existence and false

514
00:26:25,840 --> 00:26:30,000
Speaker 1: flaget into existence. But I'm getting I'm getting done. I'm

515
00:26:30,000 --> 00:26:32,000
Speaker 1: getting tired of this. And I think what happened with

516
00:26:32,200 --> 00:26:35,000
Speaker 1: Liz Trust and everything else and and Boris Johnson, it's

517
00:26:35,160 --> 00:26:38,720
Speaker 1: very clear like who actually, you know, quote unquote wears

518
00:26:38,720 --> 00:26:43,000
Speaker 1: the pants and this uh in this relationship. Now that

519
00:26:43,119 --> 00:26:47,159
Speaker 1: being said, UM, I think the situation in Ukraine and

520
00:26:47,240 --> 00:26:51,800
Speaker 1: Russia bothers me because the Brits have motive means an opportunity.

521
00:26:51,800 --> 00:26:55,760
Speaker 1: Why what's there? What's their motive? Not just because they

522
00:26:55,760 --> 00:26:58,160
Speaker 1: can they have British intelligence. They all think they're James

523
00:26:58,240 --> 00:27:00,680
Speaker 1: Bond blah bla blah blah. That's that's that's cartoon bird.

524
00:27:01,040 --> 00:27:09,520
Speaker 1: The real thing here is that the europe and the

525
00:27:09,560 --> 00:27:13,080
Speaker 1: European Union and the old European banking system. What I've

526
00:27:13,080 --> 00:27:17,879
Speaker 1: already talked about that leveraged loan offshore dollar minonds, okay,

527
00:27:17,960 --> 00:27:19,880
Speaker 1: which is the source of where a lot of their

528
00:27:19,880 --> 00:27:23,400
Speaker 1: power comes from within their banking system and their ability

529
00:27:23,480 --> 00:27:29,560
Speaker 1: to buy, you know, to manipulate currencies by favors, collect

530
00:27:29,680 --> 00:27:32,040
Speaker 1: compromat and all the rest of it. That what they do,

531
00:27:32,280 --> 00:27:35,160
Speaker 1: move elections, All of this stuff comes from that. Now,

532
00:27:36,040 --> 00:27:38,159
Speaker 1: if the FED is taking the punch pole away and saying, look,

533
00:27:38,200 --> 00:27:41,040
Speaker 1: we're gonna shrink our balance sheet, we're gonna raise interest rates,

534
00:27:41,880 --> 00:27:43,720
Speaker 1: and there's nothing you can do about it because you

535
00:27:43,720 --> 00:27:46,320
Speaker 1: can't get any spending through Congress to I don't know,

536
00:27:46,359 --> 00:27:49,359
Speaker 1: build back Better or new infrastructure or any of the

537
00:27:49,400 --> 00:27:51,760
Speaker 1: other stuff. Because, as Daniel de Martino Booth pointed out

538
00:27:51,840 --> 00:27:56,480
Speaker 1: multiple times, both versions of those bills that finally got past,

539
00:27:56,520 --> 00:27:58,920
Speaker 1: the Inflation Reduction Act, which is Built Back Better read,

540
00:27:59,320 --> 00:28:04,080
Speaker 1: it's all kind of tax credits. It's classic stimulus. It's

541
00:28:04,080 --> 00:28:06,159
Speaker 1: not U b I, it's not we're gonna print a

542
00:28:06,200 --> 00:28:08,200
Speaker 1: ton of money and hand it out the people. It's

543
00:28:08,240 --> 00:28:10,600
Speaker 1: more the hey, we're gonna give you a tax incentive

544
00:28:10,640 --> 00:28:12,600
Speaker 1: to you know, fix a road or do this, or

545
00:28:12,640 --> 00:28:16,400
Speaker 1: build a bridge or you know, get a refinery back online. Sorry,

546
00:28:16,440 --> 00:28:20,040
Speaker 1: never mind, not not build together. Never never do that. Um.

547
00:28:20,440 --> 00:28:23,160
Speaker 1: But it's that kind of thing. So if people don't

548
00:28:23,280 --> 00:28:25,960
Speaker 1: use it, then it's not going to show up in

549
00:28:26,000 --> 00:28:27,840
Speaker 1: the you know, then the Treasury is not gonna have

550
00:28:27,880 --> 00:28:30,960
Speaker 1: to write the check. It's very different. It's a passive

551
00:28:31,080 --> 00:28:35,679
Speaker 1: kind of of stimulus. Okay, So if the if the

552
00:28:35,720 --> 00:28:38,760
Speaker 1: States are the you know, the agencies don't engage in

553
00:28:38,760 --> 00:28:41,480
Speaker 1: this stuff, the people don't request the money, then the

554
00:28:41,520 --> 00:28:45,560
Speaker 1: money doesn't get spent. All right, big difference between that

555
00:28:45,680 --> 00:28:48,480
Speaker 1: and what Yelling and Biden wanted, which was six and

556
00:28:48,480 --> 00:28:50,360
Speaker 1: a half trillion dollars. With the spending that the Fed

557
00:28:50,360 --> 00:28:52,440
Speaker 1: would be forced to monetize a lot of cares act.

558
00:28:53,760 --> 00:28:56,840
Speaker 1: So what's the replacement for that. If they can't get

559
00:28:56,880 --> 00:29:01,920
Speaker 1: that done, well, it's obviously worth spending. So that's why

560
00:29:01,960 --> 00:29:05,200
Speaker 1: the Brits bombed the North Gring pipeline. That's why they

561
00:29:05,240 --> 00:29:08,560
Speaker 1: helped the Ukrainians bomb the kirt straight Bridge. That's why

562
00:29:08,760 --> 00:29:11,280
Speaker 1: the attack on Sebastopol last week and the whole grain

563
00:29:12,040 --> 00:29:15,280
Speaker 1: chord using the grain, weaponizing the grain corridor and humanitarian

564
00:29:15,280 --> 00:29:17,760
Speaker 1: aid and everything else. Oh, it's not like the Brits

565
00:29:17,800 --> 00:29:20,800
Speaker 1: have ever, you know, been involved in a false flag

566
00:29:20,880 --> 00:29:25,080
Speaker 1: incident that you know killed civilians, Like I don't know

567
00:29:25,280 --> 00:29:28,880
Speaker 1: the Lusitania, Like, so it's now the Graanitania, Like that's

568
00:29:28,880 --> 00:29:31,440
Speaker 1: what we're dealing with now. Like you have to look

569
00:29:31,480 --> 00:29:35,880
Speaker 1: at the the attack on Sebastopol is very similar to

570
00:29:35,880 --> 00:29:39,440
Speaker 1: the Lusitania, a mechanism by which to try and get

571
00:29:39,480 --> 00:29:42,520
Speaker 1: the United States and the rest of the world angry

572
00:29:42,520 --> 00:29:48,280
Speaker 1: with Putin for you know, targeting civilians and humanitarian aid

573
00:29:48,360 --> 00:29:50,120
Speaker 1: to the world. And at the same time, of course

574
00:29:50,160 --> 00:29:52,880
Speaker 1: Putin's running around going, look, we have five tons of

575
00:29:52,920 --> 00:29:55,280
Speaker 1: grain we're willing to ship out of you know, out

576
00:29:55,280 --> 00:29:57,520
Speaker 1: of the c of A's off for free. We'll give

577
00:29:57,520 --> 00:29:59,920
Speaker 1: it to you people, like we'll show you aren't in

578
00:30:00,160 --> 00:30:01,840
Speaker 1: a run the up and up. But we're not going

579
00:30:01,880 --> 00:30:05,760
Speaker 1: to allow Ukraine to import weapons from the West to

580
00:30:05,840 --> 00:30:08,080
Speaker 1: then throw it's abassible. We're not going to do that

581
00:30:08,120 --> 00:30:10,840
Speaker 1: because we're not stupid and we're not suicidal, and you

582
00:30:10,840 --> 00:30:12,880
Speaker 1: can call us nasty names all you want, and we

583
00:30:12,920 --> 00:30:17,960
Speaker 1: don't care. So the thing that worries me is that

584
00:30:18,000 --> 00:30:22,880
Speaker 1: they're trying to mean us into uh an escalation that

585
00:30:22,920 --> 00:30:26,480
Speaker 1: we can't come back from. That will then give Congress,

586
00:30:26,520 --> 00:30:30,400
Speaker 1: the new Congress, the quote unquote warhawk Republicans, the cover

587
00:30:30,600 --> 00:30:34,040
Speaker 1: to spend to go into a war footing to spend

588
00:30:34,080 --> 00:30:36,640
Speaker 1: a whole lot of money. That will the force federally

589
00:30:36,720 --> 00:30:41,280
Speaker 1: forced to monetize to reverse qi QT go back to QI,

590
00:30:41,440 --> 00:30:43,880
Speaker 1: go back to the zero bound, and and all the

591
00:30:43,920 --> 00:30:48,040
Speaker 1: rest of it. We're already seeing that in Europe they're

592
00:30:48,040 --> 00:30:52,480
Speaker 1: doing increased military spending, in Germany they're doing increased they're

593
00:30:52,480 --> 00:30:55,280
Speaker 1: talking about increased military respecting all across Europe. And it's

594
00:30:55,360 --> 00:30:57,920
Speaker 1: really nothing more than a means by which to print

595
00:30:57,920 --> 00:31:02,240
Speaker 1: a bunch of euros and then stuff the banks full

596
00:31:02,240 --> 00:31:06,440
Speaker 1: of reserves, while the FED is raising interest rates and

597
00:31:06,560 --> 00:31:09,440
Speaker 1: draining the markets. And you have to look at it

598
00:31:09,480 --> 00:31:12,520
Speaker 1: that way. I heard from multiple people just like just

599
00:31:12,880 --> 00:31:14,360
Speaker 1: see if I can try and put a fine point

600
00:31:14,400 --> 00:31:17,520
Speaker 1: on this market before you. Is that during COVID right,

601
00:31:17,800 --> 00:31:20,040
Speaker 1: a lot of the COVID relief funds that were sent

602
00:31:20,080 --> 00:31:23,960
Speaker 1: out the hospitals, or that were reserved for hospitals. Right,

603
00:31:24,000 --> 00:31:27,560
Speaker 1: we're not spent. And we heard all these hard these

604
00:31:27,600 --> 00:31:29,960
Speaker 1: stories of well, you know, the hospitals got this money,

605
00:31:30,000 --> 00:31:32,160
Speaker 1: but the banks didn't want the money back. Well, no,

606
00:31:32,280 --> 00:31:33,880
Speaker 1: of course, somebody. The banks didn't want the money back

607
00:31:33,880 --> 00:31:36,080
Speaker 1: because they wanted that money to sit on their balance

608
00:31:36,080 --> 00:31:40,000
Speaker 1: sheet as reserves, because they were desperate for the reserves.

609
00:31:40,600 --> 00:31:43,360
Speaker 1: They didn't want the money back. What they wanted was

610
00:31:44,080 --> 00:31:46,760
Speaker 1: the to keep their balance sheets for imploding, so the

611
00:31:47,320 --> 00:31:49,720
Speaker 1: credit markets wouldn't implode, and credit spreads wouldn't blow out,

612
00:31:49,720 --> 00:31:52,520
Speaker 1: an interest rate you know, um swaps wouldn't blow out,

613
00:31:52,520 --> 00:31:54,240
Speaker 1: and all the rest of it. The currencies wouldn't collapse.

614
00:31:54,560 --> 00:31:57,040
Speaker 1: And that's what this was all about. And the war

615
00:31:57,080 --> 00:32:00,719
Speaker 1: in Ukraine is a is a similar type of operation. Okay,

616
00:32:01,040 --> 00:32:03,480
Speaker 1: and you have to and once you see it that way,

617
00:32:03,560 --> 00:32:05,160
Speaker 1: you can. Yeah, that's that's what I was trying to

618
00:32:05,160 --> 00:32:08,120
Speaker 1: ask about. So, uh, if they can push the war

619
00:32:08,400 --> 00:32:11,960
Speaker 1: and then they have wartime spending for more weapons, etcetera,

620
00:32:12,000 --> 00:32:15,200
Speaker 1: then that will somehow then force the Fed to monetize that.

621
00:32:16,680 --> 00:32:18,400
Speaker 1: Well they have to because they're gonna spend all that

622
00:32:18,440 --> 00:32:20,080
Speaker 1: money the Feds. I mean, they'll put it out on

623
00:32:20,120 --> 00:32:22,600
Speaker 1: the market, but you know there's no appetite in the

624
00:32:22,640 --> 00:32:24,400
Speaker 1: market for six and a half trillion dollars with the

625
00:32:24,480 --> 00:32:26,600
Speaker 1: U S truaguy and he's gonna buy. And and is

626
00:32:26,640 --> 00:32:29,680
Speaker 1: there some mandate that the FED has to buy the treasuries? Yeah,

627
00:32:29,760 --> 00:32:31,920
Speaker 1: the Fed has to buy if the Treasury spends the money.

628
00:32:32,000 --> 00:32:35,360
Speaker 1: The primary dealers have to have to have to buy

629
00:32:35,360 --> 00:32:37,240
Speaker 1: the debt, have to buy what the market doesn't buy.

630
00:32:37,440 --> 00:32:39,960
Speaker 1: I e. They have that's the definition of a primary dealer.

631
00:32:40,160 --> 00:32:41,560
Speaker 1: And then what do they do. They turn right around,

632
00:32:41,560 --> 00:32:43,720
Speaker 1: they flip the treasuries over to the FED. Got it?

633
00:32:44,520 --> 00:32:46,080
Speaker 1: And the FED has to buy them. So the FED

634
00:32:46,160 --> 00:32:48,320
Speaker 1: feed is for the FED forced to ease to take

635
00:32:48,360 --> 00:32:51,480
Speaker 1: on that debt, the force the FED is forced to

636
00:32:51,520 --> 00:32:54,560
Speaker 1: eat spending that they don't want to eat. And that's

637
00:32:54,600 --> 00:32:56,360
Speaker 1: what this is going. That's what this is all about.

638
00:32:56,600 --> 00:32:58,920
Speaker 1: Jenny Yellen playing games when saying that she's going to

639
00:32:59,000 --> 00:33:01,880
Speaker 1: do yield curve control through the US Treasury and cap

640
00:33:01,920 --> 00:33:06,480
Speaker 1: the price of oil Russian oil are um. I didn't

641
00:33:06,480 --> 00:33:10,760
Speaker 1: know Johnny Ellen was that stupid, But she's think that

642
00:33:10,760 --> 00:33:13,880
Speaker 1: she could cap the price of Russian oil. Yeah, I

643
00:33:13,920 --> 00:33:16,120
Speaker 1: mean both of those things that she can that she

644
00:33:16,160 --> 00:33:17,960
Speaker 1: can do yield curve control for any length of time

645
00:33:18,000 --> 00:33:20,720
Speaker 1: against the wishes of the Federal Reserve and the US

646
00:33:20,760 --> 00:33:25,280
Speaker 1: banking system, and and do that, you know without you know,

647
00:33:25,280 --> 00:33:27,480
Speaker 1: without the tax base of supportive for very long. She's

648
00:33:27,480 --> 00:33:30,760
Speaker 1: got about four hundred billion dollars in US tresury um

649
00:33:30,960 --> 00:33:32,600
Speaker 1: and you know, and that's gonna get eaten up over

650
00:33:32,640 --> 00:33:34,800
Speaker 1: the It's gonna get eaten up in no time flat.

651
00:33:35,320 --> 00:33:39,760
Speaker 1: And also understand that the capping of the Russian the

652
00:33:39,800 --> 00:33:43,600
Speaker 1: Russian oil price, how are they going to actually do that? Well,

653
00:33:43,640 --> 00:33:50,200
Speaker 1: they're gonna do that by subsidizing it, subsidizing, offsetting. Uh, well,

654
00:33:50,240 --> 00:33:52,160
Speaker 1: they're gonna how are they going to how are they

655
00:33:52,280 --> 00:33:54,760
Speaker 1: do that through subsidizing? Well, I mean, like think of

656
00:33:54,760 --> 00:33:56,480
Speaker 1: it this way, like it's like it's not even that.

657
00:33:56,520 --> 00:33:58,360
Speaker 1: It's like they're gonna cap the price of Russian oil.

658
00:33:58,480 --> 00:34:00,400
Speaker 1: That's it's actually a little bit. What they're gonna do

659
00:34:00,400 --> 00:34:04,080
Speaker 1: is they're gonna havep the price of electricity domestically by subsidizing. Sorry,

660
00:34:04,440 --> 00:34:06,040
Speaker 1: they're gonna try and cap the price of Russian oil,

661
00:34:06,040 --> 00:34:07,800
Speaker 1: but they're not gonna be able to so they're just

662
00:34:07,840 --> 00:34:11,279
Speaker 1: gonna have to buy third party reblended fuel and pay

663
00:34:11,320 --> 00:34:14,160
Speaker 1: the price. Right, But what they'll do what Germany is

664
00:34:14,160 --> 00:34:16,680
Speaker 1: already talking about doing, aside from a nine percent windfall

665
00:34:16,680 --> 00:34:22,360
Speaker 1: profit tax on on all energy profits, not above a

666
00:34:22,360 --> 00:34:26,640
Speaker 1: certain level, but all energy profits. So they've been effectively nationalized,

667
00:34:27,080 --> 00:34:29,959
Speaker 1: what they're also want to do is capped the price

668
00:34:29,960 --> 00:34:32,920
Speaker 1: of electricity for the consumer. How are they gonna do that, Well,

669
00:34:32,960 --> 00:34:35,080
Speaker 1: they're still buying electricity from the market at whatever the

670
00:34:35,080 --> 00:34:39,200
Speaker 1: market rate is. They still they keep the electricity producers

671
00:34:39,239 --> 00:34:42,480
Speaker 1: from going bankrupt if you know, you know they if there,

672
00:34:42,520 --> 00:34:44,400
Speaker 1: if it's costing them twenty cents of kill a one hour,

673
00:34:44,440 --> 00:34:46,279
Speaker 1: I'm just picking numbers out of my out of my head.

674
00:34:46,320 --> 00:34:48,960
Speaker 1: I'm not these are not real. But they cost twenty

675
00:34:48,960 --> 00:34:51,200
Speaker 1: cents of kill a one hour to produce electricity. But

676
00:34:51,239 --> 00:34:53,640
Speaker 1: they have the price at thirteen, Well, then that seven

677
00:34:53,680 --> 00:34:56,200
Speaker 1: cents has to be made up by what the federal

678
00:34:56,239 --> 00:34:59,200
Speaker 1: treasury or the federal government's gonna have to pay it.

679
00:34:59,320 --> 00:35:02,560
Speaker 1: Who's gonna who's going to print those euros? Clearly the

680
00:35:02,600 --> 00:35:07,080
Speaker 1: bundes Bank, what is that doing again? Stopping reserves into

681
00:35:07,120 --> 00:35:09,600
Speaker 1: the European banking and they're already doing it in the UK, right,

682
00:35:09,600 --> 00:35:12,160
Speaker 1: They've already already done that, but they are there. That

683
00:35:12,239 --> 00:35:15,680
Speaker 1: was part of Trust's plan was Okay, I'm gonna do that,

684
00:35:15,880 --> 00:35:19,279
Speaker 1: but I'm also going to alleviate the supply shortage by

685
00:35:19,320 --> 00:35:23,319
Speaker 1: allowing oil and gas exploration and investment into oil and

686
00:35:23,360 --> 00:35:26,439
Speaker 1: gas exploration back into the UK at the same time.

687
00:35:26,480 --> 00:35:29,840
Speaker 1: So that's the question, Tom, Like, it seems so obvious,

688
00:35:30,360 --> 00:35:34,399
Speaker 1: um that the however you want to frame this up

689
00:35:34,960 --> 00:35:37,600
Speaker 1: the euro Davis and ECB group or even the FED,

690
00:35:37,640 --> 00:35:40,280
Speaker 1: if they're trying to fight inflation, if there it's really

691
00:35:40,320 --> 00:35:42,560
Speaker 1: it's a supply side issue, as you've already made the case,

692
00:35:42,560 --> 00:35:45,399
Speaker 1: which I agree, supply side issue. On the oil, they're

693
00:35:45,400 --> 00:35:47,000
Speaker 1: trying to cap the price of oil, they're trying to

694
00:35:47,000 --> 00:35:49,960
Speaker 1: beg or pressure OPEC to pump out more, all these things.

695
00:35:50,600 --> 00:35:55,760
Speaker 1: If whoever really wanted to win that war, the obvious

696
00:35:55,760 --> 00:35:58,239
Speaker 1: way would be to increase our own supply of oil

697
00:35:58,239 --> 00:36:00,560
Speaker 1: and push the price down to bucks and they could

698
00:36:00,560 --> 00:36:13,360
Speaker 1: bankrupt Russia and no pack that way. Yeah, yeah, of

699
00:36:13,400 --> 00:36:15,680
Speaker 1: course why not that. If we're not doing that, then

700
00:36:15,719 --> 00:36:17,520
Speaker 1: you have to ask yourself why it's not asking you

701
00:36:17,719 --> 00:36:20,160
Speaker 1: why not clear, because they want to actually crash the

702
00:36:20,320 --> 00:36:23,920
Speaker 1: entire system and they want us to starve, and they

703
00:36:23,960 --> 00:36:27,480
Speaker 1: want to and they wanted to. They want to create

704
00:36:27,760 --> 00:36:34,000
Speaker 1: the conditions for a justified defaulting on all of the

705
00:36:34,040 --> 00:36:38,880
Speaker 1: sovereign debt. That's what they want. The Great George Soros

706
00:36:38,920 --> 00:36:41,359
Speaker 1: has made it abundantly clear, and then he put those

707
00:36:41,360 --> 00:36:43,839
Speaker 1: words into rieschi soon Act's mouth the other day. We

708
00:36:43,880 --> 00:36:46,759
Speaker 1: want to default on the debt. There's too much of it,

709
00:36:46,840 --> 00:36:50,400
Speaker 1: we can't pay it back. We issue perpetual bonds, consoles

710
00:36:51,480 --> 00:36:56,840
Speaker 1: and then roll the the fiscal and political UH control

711
00:36:56,920 --> 00:36:59,200
Speaker 1: up into the ECB and the European Commission and do

712
00:36:59,280 --> 00:37:02,959
Speaker 1: away with NASH well UH national governments in national central banks.

713
00:37:02,960 --> 00:37:06,400
Speaker 1: That's what they want to do. Choice being put in

714
00:37:06,480 --> 00:37:08,360
Speaker 1: front of German middle class right now is that you

715
00:37:08,360 --> 00:37:10,880
Speaker 1: can either starve and freeze to death, or you can

716
00:37:10,920 --> 00:37:15,040
Speaker 1: be permanently surveilled in a Minority Reports style dystopia. Your

717
00:37:15,120 --> 00:37:18,920
Speaker 1: choice and roll out the CBDC. It's like the perfect

718
00:37:18,960 --> 00:37:22,239
Speaker 1: introduction of that. Well, that's that's how that's that's CBDCs

719
00:37:22,280 --> 00:37:25,120
Speaker 1: are how they're going to default and still have a currency.

720
00:37:25,400 --> 00:37:28,520
Speaker 1: That's the minority. That's the pillar of the Minority Report

721
00:37:29,239 --> 00:37:34,359
Speaker 1: style social credit system in Dystopia. Of course, the thing

722
00:37:34,400 --> 00:37:37,080
Speaker 1: that I don't understand about the CBDCs though, is that

723
00:37:37,600 --> 00:37:40,080
Speaker 1: obviously it's just another form of fiat. I mean, already

724
00:37:40,120 --> 00:37:42,920
Speaker 1: eighty percent of transactions are digital anyway. So whatever, it's

725
00:37:42,920 --> 00:37:45,480
Speaker 1: a digital transaction and still a digital transaction, it's still

726
00:37:45,520 --> 00:37:48,120
Speaker 1: a fiat currency. It's still whatever, right, And so like

727
00:37:48,120 --> 00:37:50,640
Speaker 1: whenever we see currencies blow up around the world, which

728
00:37:50,680 --> 00:37:53,360
Speaker 1: happens quite often, like in Zimbabwe has happened, you know,

729
00:37:53,440 --> 00:37:57,840
Speaker 1: multiple times, they always have to repeg it back to something. Advice,

730
00:37:57,840 --> 00:38:00,560
Speaker 1: they'd repack it back to the dollar. And so with

731
00:38:00,719 --> 00:38:03,680
Speaker 1: the monetary theory of value or whatever the Austrian lynsays,

732
00:38:03,920 --> 00:38:05,239
Speaker 1: I would say, you would have to pay it back

733
00:38:05,280 --> 00:38:07,600
Speaker 1: to gold or something that has value. So they pay

734
00:38:07,640 --> 00:38:09,920
Speaker 1: it back to the dollar. But if everything blows up

735
00:38:09,960 --> 00:38:13,000
Speaker 1: in the dollar blows up, how do they reinstitute value

736
00:38:13,000 --> 00:38:15,360
Speaker 1: back into a fiat currency, or more importantly, how do

737
00:38:15,440 --> 00:38:18,320
Speaker 1: they put trust back into a FIA currency without pegging.

738
00:38:19,320 --> 00:38:22,040
Speaker 1: I'm asking the same question. That's like, I feel like

739
00:38:22,080 --> 00:38:26,040
Speaker 1: these guys are the underpants. No crash the system dot

740
00:38:26,080 --> 00:38:28,680
Speaker 1: dot dot issue central bank digital currency that no one

741
00:38:28,719 --> 00:38:32,200
Speaker 1: wants dot dot dot profit Like I don't get it,

742
00:38:32,480 --> 00:38:36,200
Speaker 1: Like I think it's a monumentally stupid plan. I do.

743
00:38:36,680 --> 00:38:40,239
Speaker 1: But you know, by getting rid of they're gonna say,

744
00:38:40,239 --> 00:38:42,080
Speaker 1: but by we don't have we have a clean balance

745
00:38:42,120 --> 00:38:44,480
Speaker 1: sheet now, we don't have any debt. You can invest

746
00:38:44,520 --> 00:38:46,799
Speaker 1: in US now, Like why would I invest in you?

747
00:38:46,800 --> 00:38:50,279
Speaker 1: You just you just stole trillion twelve trillion dollars with

748
00:38:50,320 --> 00:38:57,640
Speaker 1: the fourteen trillion dollars of the wealth. Really really like okay,

749
00:38:57,840 --> 00:39:00,280
Speaker 1: you really think that's what's gonna happen here. But the reason,

750
00:39:00,400 --> 00:39:02,000
Speaker 1: the way they think they're gonna be able to pull

751
00:39:02,040 --> 00:39:06,640
Speaker 1: this off is because they have um bankrupted the Russians

752
00:39:07,080 --> 00:39:10,000
Speaker 1: in a war, right and gotten them to heal, and

753
00:39:10,040 --> 00:39:13,120
Speaker 1: they've destroyed the United States. Then of course, you know,

754
00:39:13,239 --> 00:39:17,040
Speaker 1: everything is so terrible that they come out smelling like

755
00:39:17,160 --> 00:39:19,440
Speaker 1: the first ones to default. If they're like the first

756
00:39:19,440 --> 00:39:23,560
Speaker 1: banks to to to go through bankruptcy during a financial crisis, right,

757
00:39:23,560 --> 00:39:25,759
Speaker 1: they're usually the first ones to they're the first ones

758
00:39:25,800 --> 00:39:27,920
Speaker 1: to go bankrupt, and they're usually the first ones to

759
00:39:29,040 --> 00:39:31,600
Speaker 1: come back because they've already gone through the restructuring and

760
00:39:31,640 --> 00:39:34,640
Speaker 1: everything else. That's what they're thinking they're just thinking in

761
00:39:34,680 --> 00:39:37,359
Speaker 1: those kind of quote unquote I hate to say this

762
00:39:37,560 --> 00:39:43,000
Speaker 1: when I'm talking about communists here, but creative destruction, uh well,

763
00:39:43,440 --> 00:39:46,759
Speaker 1: controlled destruction is m for them, right, trying to get

764
00:39:46,760 --> 00:39:50,040
Speaker 1: the building to fall into their lap, right, um, right now,

765
00:39:50,600 --> 00:39:53,959
Speaker 1: It's always about It's always about it's always about selling you,

766
00:39:53,960 --> 00:39:57,799
Speaker 1: you know, I've always about selling you freedom by um

767
00:39:57,960 --> 00:40:00,520
Speaker 1: by you know, putting a new surrounding back and a

768
00:40:00,560 --> 00:40:02,840
Speaker 1: shock coller, you know, and a shot and an electric

769
00:40:02,880 --> 00:40:05,399
Speaker 1: shock of your grass. Like it's not hard here, it's

770
00:40:05,400 --> 00:40:07,440
Speaker 1: the same thing. This whole thing is one big skin,

771
00:40:07,640 --> 00:40:09,839
Speaker 1: this whole this whole thing that they've turned the entire

772
00:40:09,880 --> 00:40:12,719
Speaker 1: world into. It's just one big skinner box. Now we

773
00:40:12,760 --> 00:40:15,759
Speaker 1: have the we're all just addicted to, you know, the

774
00:40:16,160 --> 00:40:18,040
Speaker 1: causing each other pain. We have the Rise of the

775
00:40:18,080 --> 00:40:22,040
Speaker 1: Bricks Nations, which UM, on one hand, seems like a

776
00:40:22,080 --> 00:40:24,920
Speaker 1: credible threat. We have more than half the people alive

777
00:40:25,000 --> 00:40:27,840
Speaker 1: in the world today joining that UM. They want to

778
00:40:27,840 --> 00:40:30,320
Speaker 1: break the l B M A. They produce over sixty

779
00:40:30,440 --> 00:40:32,799
Speaker 1: percent of the gold in the world, where the UK

780
00:40:32,960 --> 00:40:36,120
Speaker 1: produces none UM, and so it seems like it could

781
00:40:36,120 --> 00:40:40,000
Speaker 1: be a credible threat there. However, the US has the consumers,

782
00:40:40,040 --> 00:40:42,839
Speaker 1: and so without consumers that's difficult. But if they can

783
00:40:42,960 --> 00:40:46,560
Speaker 1: break Russia and now they've knocked China back to the

784
00:40:46,640 --> 00:40:50,360
Speaker 1: dark ages, China's stuck importing energy and food and everything

785
00:40:50,400 --> 00:40:53,160
Speaker 1: basically for that matter, maybe they think, well, if we

786
00:40:53,160 --> 00:40:55,360
Speaker 1: can get Russia knocked down and we can get China

787
00:40:55,560 --> 00:40:58,520
Speaker 1: cornered where they they are forced to play ball, then

788
00:40:58,560 --> 00:41:00,960
Speaker 1: we kind of break we break bricks and then we

789
00:41:01,040 --> 00:41:04,040
Speaker 1: kind of get that under control. Well, they clearly want

790
00:41:04,040 --> 00:41:06,680
Speaker 1: to break the bricks up. They obviously just did so,

791
00:41:06,920 --> 00:41:12,320
Speaker 1: you know, with a major piece of it in Brazil, right, Um,

792
00:41:12,360 --> 00:41:18,960
Speaker 1: they're clearly would be right. They clearly want you know,

793
00:41:19,000 --> 00:41:20,800
Speaker 1: and they just realized that. They just think that they

794
00:41:20,840 --> 00:41:23,960
Speaker 1: can break Brazil, Russia, and China then the swing states

795
00:41:24,000 --> 00:41:29,640
Speaker 1: like India, because bricks has two eyes made Iran and India,

796
00:41:30,120 --> 00:41:32,240
Speaker 1: so of course we're pressuring Iran at the same time.

797
00:41:33,080 --> 00:41:35,680
Speaker 1: The problem is that the bricks also have two s

798
00:41:35,760 --> 00:41:37,480
Speaker 1: is because there's another there's a new one now in

799
00:41:37,600 --> 00:41:42,719
Speaker 1: Saudi Arabia. Right, So they've got a lot of work

800
00:41:42,760 --> 00:41:48,080
Speaker 1: to do here because everybody there is um not on

801
00:41:48,120 --> 00:41:51,960
Speaker 1: board with this. And you know, the big question now

802
00:41:52,040 --> 00:41:55,800
Speaker 1: is you know, can the Russians rejigger their their trade

803
00:41:55,840 --> 00:41:59,000
Speaker 1: and there and their military and there in their internal

804
00:41:59,239 --> 00:42:02,319
Speaker 1: structure and such a way that they can resist kind

805
00:42:02,320 --> 00:42:06,040
Speaker 1: of ad infinitem right. And I don't know that that's

806
00:42:06,080 --> 00:42:08,560
Speaker 1: the case. I, you know, I'd like to believe that

807
00:42:08,600 --> 00:42:11,440
Speaker 1: it is. I'm you know, I I'd like to believe

808
00:42:11,480 --> 00:42:14,720
Speaker 1: that Putin has this mostly under control. He's not acting

809
00:42:14,760 --> 00:42:19,200
Speaker 1: like he doesn't, you know. And um, but you know

810
00:42:19,440 --> 00:42:22,400
Speaker 1: these are these are titanic forces here, and everybody has

811
00:42:22,400 --> 00:42:26,560
Speaker 1: to play their hand perfectly to get out of it alive. Okay, yes, yes,

812
00:42:26,600 --> 00:42:29,640
Speaker 1: and no, but also you've also framed up a plan

813
00:42:29,800 --> 00:42:33,480
Speaker 1: that doesn't seem like it will work. So um, Nietzsche

814
00:42:33,600 --> 00:42:36,279
Speaker 1: says that that was just falling. Shall yasso push? Like

815
00:42:36,520 --> 00:42:40,400
Speaker 1: the global sovereign debt bubble is bursting. Uh, the dollar

816
00:42:40,480 --> 00:42:44,000
Speaker 1: bubble is bursting, and every other sovereign is bursting. The

817
00:42:44,040 --> 00:42:47,360
Speaker 1: plan that they seem to have doesn't seem to work.

818
00:42:47,400 --> 00:42:49,600
Speaker 1: How do you go back to a fiat currency? Probably

819
00:42:49,640 --> 00:42:52,239
Speaker 1: doesn't work. How do you trust somebody who just stole

820
00:42:52,280 --> 00:42:56,320
Speaker 1: the global wealth? And and like so like, uh, everyone

821
00:42:56,320 --> 00:42:58,319
Speaker 1: has to play this. This is why, this is why

822
00:42:58,320 --> 00:43:00,719
Speaker 1: the feed is raising interest rates, aggress sibilate to try

823
00:43:00,760 --> 00:43:04,160
Speaker 1: and um get back lost credibility and to get rid

824
00:43:04,200 --> 00:43:06,000
Speaker 1: of the FED put and get everybody back on the

825
00:43:06,080 --> 00:43:08,920
Speaker 1: risk assessment. One of the interesting things about SOFA, and

826
00:43:08,960 --> 00:43:10,839
Speaker 1: I haven't really had a chance to write a piece

827
00:43:10,840 --> 00:43:12,359
Speaker 1: about this, but I talked about it a little bit

828
00:43:12,360 --> 00:43:15,000
Speaker 1: here and there, is that when you really start to

829
00:43:15,000 --> 00:43:18,520
Speaker 1: look at SOFA as a as a market driven collateralized

830
00:43:19,000 --> 00:43:22,960
Speaker 1: um rate right contract, Right, it's got futures market and

831
00:43:23,440 --> 00:43:26,399
Speaker 1: and you know, we now have a sofar futures curve

832
00:43:26,520 --> 00:43:30,440
Speaker 1: for um UH anticipating where it's going to be in

833
00:43:30,760 --> 00:43:32,960
Speaker 1: ninety days and what people are gonna help people are

834
00:43:32,960 --> 00:43:35,239
Speaker 1: gonna need, domestic money markets and all the rest of it.

835
00:43:35,280 --> 00:43:37,960
Speaker 1: And this is all good. The interesting part about this

836
00:43:38,160 --> 00:43:46,840
Speaker 1: is that the endgame or SOFUR domestically, after it breaks

837
00:43:46,960 --> 00:43:50,080
Speaker 1: library or after it breaks the ear dollar system, is

838
00:43:50,120 --> 00:43:52,480
Speaker 1: that we can have a re regionalization of interest rates

839
00:43:52,480 --> 00:43:55,520
Speaker 1: in the United States. Remember that the FED or Reserve

840
00:43:55,600 --> 00:44:01,120
Speaker 1: is originally conceived of as twelve regional banks City FED,

841
00:44:01,200 --> 00:44:03,239
Speaker 1: the al NFD, the Dallas FED, San Francisco FAD, the

842
00:44:03,239 --> 00:44:05,960
Speaker 1: New York Fed, blah blah of Minneapolis blah, blah blah blah,

843
00:44:06,120 --> 00:44:09,160
Speaker 1: right a hundred years ago, hundred hundred five years ago,

844
00:44:09,960 --> 00:44:12,080
Speaker 1: years ago. This was necessary because of the rate at

845
00:44:12,080 --> 00:44:17,440
Speaker 1: which you know, information transmitted through the economy, because you know,

846
00:44:17,640 --> 00:44:21,360
Speaker 1: we were still you know, we are not cars. Cars

847
00:44:21,400 --> 00:44:26,800
Speaker 1: were just we're not even a thing yet, right, So um,

848
00:44:26,840 --> 00:44:31,759
Speaker 1: having regional interest rates made sense and for the you know,

849
00:44:31,920 --> 00:44:35,480
Speaker 1: so that the rate of the risk assessment rate, the

850
00:44:36,239 --> 00:44:40,160
Speaker 1: foundational the rate in San Francisco should be different than

851
00:44:40,200 --> 00:44:43,200
Speaker 1: it is in New York. Well, with a market driven

852
00:44:43,239 --> 00:44:45,799
Speaker 1: rate like so far, you can actually have now a

853
00:44:45,880 --> 00:44:50,400
Speaker 1: re regionalization of interest rates because you're gonna just have

854
00:44:50,520 --> 00:44:56,279
Speaker 1: banks bidding locally for money markets and we're gonna get

855
00:44:56,280 --> 00:44:58,120
Speaker 1: away from it. And then we can actually get away

856
00:44:58,160 --> 00:45:01,879
Speaker 1: from a monolo thick FED funds rate. The Fed can

857
00:45:01,960 --> 00:45:06,239
Speaker 1: just you know, and there's there's a there's a thing

858
00:45:06,680 --> 00:45:09,120
Speaker 1: happening here that I think is you know, I mean

859
00:45:09,160 --> 00:45:11,160
Speaker 1: really looking ahead here and now we're talking about looking

860
00:45:11,440 --> 00:45:14,799
Speaker 1: five twelve years ahead here, and obviously we may not

861
00:45:14,840 --> 00:45:17,240
Speaker 1: even have an election, but I want you to understand

862
00:45:17,280 --> 00:45:20,680
Speaker 1: that the model, you can see, the foundations are in

863
00:45:20,760 --> 00:45:25,920
Speaker 1: place for a move back to a monetary system, which

864
00:45:26,280 --> 00:45:30,239
Speaker 1: created the United States that that we know it today,

865
00:45:30,640 --> 00:45:33,719
Speaker 1: right that when we had the Federal Reserve, which was

866
00:45:33,920 --> 00:45:36,640
Speaker 1: you know, this was a coup against the original concept

867
00:45:36,640 --> 00:45:39,239
Speaker 1: of the United States. Don't get me wrong, I hate

868
00:45:39,239 --> 00:45:42,000
Speaker 1: the Federal Reserve. I'm not making I'm not shilling for

869
00:45:42,080 --> 00:45:44,200
Speaker 1: it here. I would love for us to go onto

870
00:45:44,239 --> 00:45:49,280
Speaker 1: some kind of you know, UM reserve, commodity money standard,

871
00:45:49,880 --> 00:45:51,840
Speaker 1: real banking, and all the rest of it. But a

872
00:45:51,960 --> 00:45:57,600
Speaker 1: market driven rate with the reregionalization of the FED funds

873
00:45:57,680 --> 00:46:01,560
Speaker 1: rate to a set to put risk assessment back in

874
00:46:01,600 --> 00:46:04,080
Speaker 1: the hands of private banks is a hell of lot

875
00:46:04,160 --> 00:46:07,080
Speaker 1: better then the system we have now where we have

876
00:46:07,160 --> 00:46:09,800
Speaker 1: one monolithic rate basically set by the New York Fed

877
00:46:10,480 --> 00:46:12,680
Speaker 1: UM and everybody else has to eat it. And that's

878
00:46:12,719 --> 00:46:15,960
Speaker 1: actually a crossed all sorts of internal problems here in

879
00:46:16,000 --> 00:46:18,560
Speaker 1: the United States. In the same way that having a

880
00:46:19,320 --> 00:46:25,520
Speaker 1: monolithic um EC beef funds rate deposit rate has advantaged

881
00:46:25,520 --> 00:46:28,840
Speaker 1: Germany at the expensive say Italy or Spain or Greece

882
00:46:28,960 --> 00:46:31,919
Speaker 1: or you know the other the quote unquote pigs, what's

883
00:46:31,920 --> 00:46:34,080
Speaker 1: the same problem here in the United States having a

884
00:46:34,120 --> 00:46:38,360
Speaker 1: monolithic rate and um in the United States advantaged California

885
00:46:38,400 --> 00:46:40,560
Speaker 1: at the expense of you know, most of the South

886
00:46:40,680 --> 00:46:44,480
Speaker 1: for decades, in the Midwest for decades. So it's the

887
00:46:44,520 --> 00:46:47,080
Speaker 1: same problem written large and this is why and so

888
00:46:47,160 --> 00:46:49,600
Speaker 1: this is the end of the Californization of the United

889
00:46:49,640 --> 00:46:53,400
Speaker 1: States when you really start start to like think through

890
00:46:53,840 --> 00:46:56,799
Speaker 1: how this is gonna work and why everybody why why

891
00:46:56,840 --> 00:47:01,080
Speaker 1: the breakup of the European Union is effect I think

892
00:47:01,120 --> 00:47:04,520
Speaker 1: inevitable because we need to have different interest rates across

893
00:47:04,640 --> 00:47:09,600
Speaker 1: the EU space in order to properly assess risk and

894
00:47:09,600 --> 00:47:11,640
Speaker 1: and labor efficiency. Well, the same thing should be in

895
00:47:11,680 --> 00:47:14,479
Speaker 1: the United States as well, but with a market driven

896
00:47:14,560 --> 00:47:18,879
Speaker 1: rate like SOFUR, we could actually do that because things

897
00:47:18,880 --> 00:47:21,879
Speaker 1: can trade at a disc things can trade in Minneapolis

898
00:47:21,920 --> 00:47:24,759
Speaker 1: at a discount or I premium. This SOF based on

899
00:47:24,800 --> 00:47:30,040
Speaker 1: the demand for money, right, Whereas it's a lot harder

900
00:47:30,080 --> 00:47:32,600
Speaker 1: for that to happen with a monolithic rate because it's

901
00:47:32,719 --> 00:47:35,760
Speaker 1: not a market driven rate that's coming from the Federal Reserve.

902
00:47:35,840 --> 00:47:38,480
Speaker 1: Whereas SOFA is actually determined by the market. And the

903
00:47:38,480 --> 00:47:41,640
Speaker 1: problem with it can be once the once the entirety

904
00:47:41,640 --> 00:47:43,200
Speaker 1: of the of the market, once the entirety of the

905
00:47:43,200 --> 00:47:45,680
Speaker 1: market is working on that right. This is something that

906
00:47:45,719 --> 00:47:48,760
Speaker 1: I've been spitballing with some people about for a couple

907
00:47:48,760 --> 00:47:50,239
Speaker 1: of a couple of weeks now, but I just it's

908
00:47:50,280 --> 00:47:52,439
Speaker 1: the first time I've actually actually tried to like put

909
00:47:52,480 --> 00:47:54,440
Speaker 1: some some meat on those bones. And again, I'm not

910
00:47:54,480 --> 00:47:57,000
Speaker 1: saying that I'm right about this, but it's something that

911
00:47:57,040 --> 00:47:59,720
Speaker 1: we really want to start considering. And of course, because

912
00:47:59,719 --> 00:48:01,320
Speaker 1: if that's the case, and those are the forces that

913
00:48:01,360 --> 00:48:03,719
Speaker 1: play here in the United States to ensure that the

914
00:48:03,760 --> 00:48:07,080
Speaker 1: reindustrialization of the United States that happens with the last

915
00:48:07,360 --> 00:48:10,160
Speaker 1: dollar bull market that we're going to have, which is

916
00:48:10,200 --> 00:48:11,399
Speaker 1: not going to buy a way to be a bull

917
00:48:11,440 --> 00:48:14,640
Speaker 1: market against golden bitcoin, It's gonna be a bullmarket against

918
00:48:14,680 --> 00:48:17,640
Speaker 1: every other freaking crappy seat OC currency. It's the one

919
00:48:17,680 --> 00:48:20,959
Speaker 1: we're living through right now. And then once people really

920
00:48:20,960 --> 00:48:24,600
Speaker 1: start getting real and we're starting to see that the

921
00:48:24,640 --> 00:48:26,880
Speaker 1: FED rate seventy basis points the other day and gold,

922
00:48:27,200 --> 00:48:29,880
Speaker 1: you know, initially traded down and now is back up

923
00:48:29,880 --> 00:48:33,160
Speaker 1: in the sixteen eighties, and it's threatening sev dred you know,

924
00:48:33,239 --> 00:48:36,120
Speaker 1: I think a weekly closing price on gold about seventeen

925
00:48:36,160 --> 00:48:38,520
Speaker 1: thirty five, and we're off to the races back to hundred.

926
00:48:38,719 --> 00:48:40,160
Speaker 1: The same thing with bitcoin. If we got a weekly

927
00:48:40,160 --> 00:48:42,560
Speaker 1: closed about twenty two thousand. Watch out, baby, We're gonna

928
00:48:42,560 --> 00:48:44,840
Speaker 1: be back at thirty before you even though it, because

929
00:48:44,840 --> 00:48:48,200
Speaker 1: it's gonna pretend that you have people finally realizing that

930
00:48:48,280 --> 00:48:53,240
Speaker 1: Europe has no way of of surviving this without forcing

931
00:48:53,280 --> 00:48:55,560
Speaker 1: the FED to pivot and without forcing the FED put

932
00:48:55,600 --> 00:48:58,520
Speaker 1: back onto the global market. And I just don't think

933
00:48:58,520 --> 00:49:00,680
Speaker 1: that enough people believe that that the case yet. I

934
00:49:00,719 --> 00:49:03,279
Speaker 1: just don't think we've gotten you know, enough people to

935
00:49:03,360 --> 00:49:06,680
Speaker 1: the to the acceptance phase of the kuber Ross model

936
00:49:06,760 --> 00:49:09,040
Speaker 1: about five stages of grief model about the end of

937
00:49:09,040 --> 00:49:10,920
Speaker 1: the death of the FED POOT. I think a lot

938
00:49:10,960 --> 00:49:13,200
Speaker 1: of people are still in denial and so and a

939
00:49:13,239 --> 00:49:16,480
Speaker 1: lot of people clearly are angry and are bargaining. So

940
00:49:16,719 --> 00:49:18,799
Speaker 1: you don't think the FED has one more put in him?

941
00:49:19,440 --> 00:49:21,240
Speaker 1: I mean it seems like you do. That's why you said,

942
00:49:21,880 --> 00:49:24,319
Speaker 1: or no, you think Golden Big Plan go. I think

943
00:49:24,320 --> 00:49:26,400
Speaker 1: the FED wants to do away with the idea of

944
00:49:26,440 --> 00:49:28,880
Speaker 1: the of the general FED put for the global market.

945
00:49:29,040 --> 00:49:30,680
Speaker 1: I'm not saying that. I don't think that at some

946
00:49:30,719 --> 00:49:33,960
Speaker 1: point the FED may not pivot or you know they

947
00:49:34,080 --> 00:49:38,360
Speaker 1: you know again, markets moving waves, right, policies moving waves.

948
00:49:38,600 --> 00:49:40,640
Speaker 1: We could have the FED go to five and a

949
00:49:40,680 --> 00:49:45,160
Speaker 1: half percent, break Europe, you know, see the dollar index

950
00:49:45,200 --> 00:49:47,600
Speaker 1: go to one forty, back off, go back to three.

951
00:49:49,160 --> 00:49:50,760
Speaker 1: Let that and then let that run for a while.

952
00:49:51,640 --> 00:49:54,359
Speaker 1: That would be okay, I mean whatever, that would be fine.

953
00:49:54,440 --> 00:49:57,279
Speaker 1: Like that would be normal minditary policy. And and then

954
00:49:57,600 --> 00:50:00,200
Speaker 1: once and once we've internalized all that, we've worked out

955
00:50:00,200 --> 00:50:01,880
Speaker 1: some of the the damage from those things, then if

956
00:50:01,880 --> 00:50:03,359
Speaker 1: we need to move it back up to five or six,

957
00:50:03,360 --> 00:50:05,560
Speaker 1: we do something we should never ever go back to

958
00:50:05,560 --> 00:50:08,520
Speaker 1: the zero bound. Yeah, that's what I think. It seems

959
00:50:08,560 --> 00:50:10,719
Speaker 1: like it's probably the most probable outcome here, you know,

960
00:50:10,760 --> 00:50:13,239
Speaker 1: financial repression. So if they can bring the rates up

961
00:50:13,239 --> 00:50:15,719
Speaker 1: to five percent, get them some room, drop it back

962
00:50:15,719 --> 00:50:19,040
Speaker 1: down to three pin or maybe four, you know, maybe

963
00:50:19,040 --> 00:50:22,200
Speaker 1: four is the new two or something. Hey or uh

964
00:50:22,280 --> 00:50:24,120
Speaker 1: and then uh, you know, get up to five, get

965
00:50:24,160 --> 00:50:26,080
Speaker 1: some room, bring it back down to four, keep the

966
00:50:26,120 --> 00:50:28,719
Speaker 1: bond yields low, and let let inflation kind of run

967
00:50:28,760 --> 00:50:30,480
Speaker 1: a little hot for a while, and maybe you know,

968
00:50:30,480 --> 00:50:33,160
Speaker 1: try to bring GDP back down that way. Um, it

969
00:50:33,160 --> 00:50:36,480
Speaker 1: seems like it might be a probable option or outcome,

970
00:50:36,520 --> 00:50:39,560
Speaker 1: I should say, Um, jumping gears a little bit uh

971
00:50:39,800 --> 00:50:42,960
Speaker 1: you mentioned you mentioned bitcoin, um, and so you know

972
00:50:45,920 --> 00:50:49,520
Speaker 1: the final stage of every empire is capital controls. All right,

973
00:50:49,560 --> 00:50:51,280
Speaker 1: we have to force you to stay in the party.

974
00:50:51,800 --> 00:50:54,319
Speaker 1: If I'm having a party here at my office and hey,

975
00:50:54,360 --> 00:50:56,000
Speaker 1: you're too noisy, get out, and I don't like you,

976
00:50:56,080 --> 00:50:59,000
Speaker 1: get out, and I kick everybody out, eventually I have

977
00:50:59,080 --> 00:51:01,279
Speaker 1: no control over anybody because no one's at my party

978
00:51:01,280 --> 00:51:03,520
Speaker 1: and they've started their own party over there. And so

979
00:51:03,560 --> 00:51:05,200
Speaker 1: when you look at like the fall of the USS,

980
00:51:05,239 --> 00:51:07,800
Speaker 1: al right, everyone's kind of left and started these parallel

981
00:51:07,840 --> 00:51:10,200
Speaker 1: markets and economies and then they had no more control.

982
00:51:10,520 --> 00:51:14,719
Speaker 1: And so, um, if if people exit, which is why

983
00:51:14,760 --> 00:51:17,239
Speaker 1: you hear people like Christine Leguard talking about having to

984
00:51:17,320 --> 00:51:20,160
Speaker 1: close the exits, not just with taxes but also with

985
00:51:20,239 --> 00:51:24,000
Speaker 1: currencies as well. Um, if we get enough people getting

986
00:51:24,040 --> 00:51:27,279
Speaker 1: outside of the system, then they lose the power of

987
00:51:27,320 --> 00:51:30,240
Speaker 1: that system. Now there hasn't really been a good option,

988
00:51:30,280 --> 00:51:33,279
Speaker 1: but it seems like as the world is escalating very

989
00:51:33,360 --> 00:51:38,560
Speaker 1: rapidly right now, especially coming forefront, which you know, two

990
00:51:38,640 --> 00:51:42,360
Speaker 1: people all across the world, um, they understand. You know,

991
00:51:42,360 --> 00:51:44,880
Speaker 1: we have about three billion people living under strict authoritarian

992
00:51:44,880 --> 00:51:48,560
Speaker 1: regimes with double digit inflation, or greater, and so for them,

993
00:51:48,760 --> 00:51:51,120
Speaker 1: you don't have to explain to them why they might

994
00:51:51,160 --> 00:51:53,680
Speaker 1: need a different way to store money than this fiat

995
00:51:53,680 --> 00:51:56,200
Speaker 1: currency they have. In the United States a little bit harder,

996
00:51:56,800 --> 00:51:59,799
Speaker 1: but in Canada we found front and center. Hey, we'll

997
00:51:59,800 --> 00:52:02,560
Speaker 1: just take your money. Town we want obviously, Russia we

998
00:52:02,719 --> 00:52:05,680
Speaker 1: frozer fex reserves. And so it's starting to come more

999
00:52:05,719 --> 00:52:09,880
Speaker 1: and more and more and more and um, it seems

1000
00:52:09,920 --> 00:52:12,200
Speaker 1: like as the world continues to break apart, which is

1001
00:52:12,239 --> 00:52:15,799
Speaker 1: my thesis, um, you know, probably move into this multipolar world,

1002
00:52:15,880 --> 00:52:18,680
Speaker 1: how does the world trust each other for common trade

1003
00:52:18,800 --> 00:52:21,720
Speaker 1: and good And it seems like it doesn't really work.

1004
00:52:22,239 --> 00:52:25,080
Speaker 1: And it's almost like we would need this decentralized ledger

1005
00:52:25,120 --> 00:52:28,200
Speaker 1: that nobody could control in order to bring some trust

1006
00:52:28,280 --> 00:52:31,799
Speaker 1: back into the world. Again, I agree, I agree. I

1007
00:52:31,840 --> 00:52:33,800
Speaker 1: just think that's this thing. I know that some people

1008
00:52:33,840 --> 00:52:35,880
Speaker 1: that when you asked last night, which is you know

1009
00:52:36,239 --> 00:52:38,680
Speaker 1: what you wanted to talk with me about now, a

1010
00:52:38,719 --> 00:52:41,799
Speaker 1: lot of people said, you know, hey, Tom, um, how

1011
00:52:41,800 --> 00:52:44,200
Speaker 1: do you justify gold in a world with bitcoin? I'm like, well,

1012
00:52:44,280 --> 00:52:46,759
Speaker 1: because a lot of people don't trust pickol and a

1013
00:52:46,800 --> 00:52:49,080
Speaker 1: lot of people still trust gold. It's just the way

1014
00:52:49,080 --> 00:52:52,480
Speaker 1: it is. And I think that, um, I'm not. I

1015
00:52:52,520 --> 00:52:56,880
Speaker 1: don't know that gold is going to survive as a

1016
00:52:57,719 --> 00:53:04,040
Speaker 1: global foundational asset beyond this cycle of history. Right beyond

1017
00:53:04,320 --> 00:53:07,399
Speaker 1: beyond this cycle, this might be the like the last one,

1018
00:53:07,920 --> 00:53:12,560
Speaker 1: the last um war cycle forth turning whatever you want

1019
00:53:12,600 --> 00:53:15,120
Speaker 1: to call it. Sovereign debt crisis saw the end of

1020
00:53:15,120 --> 00:53:19,560
Speaker 1: the silver of silver as a monetary medal. Right, All

1021
00:53:19,600 --> 00:53:22,840
Speaker 1: the central banks around the world divested the largest hordes

1022
00:53:22,920 --> 00:53:26,520
Speaker 1: of silver ever seen by humanity over the last seventy

1023
00:53:26,520 --> 00:53:28,840
Speaker 1: five years. Nobody has any silver left in their reserves.

1024
00:53:28,920 --> 00:53:32,000
Speaker 1: Was that? Was that a technology thing though, right, because

1025
00:53:32,000 --> 00:53:35,319
Speaker 1: we needed silver for lower for lower denominations. But once

1026
00:53:35,320 --> 00:53:37,680
Speaker 1: we had paper currencies, we didn't need silver anymore. So

1027
00:53:37,719 --> 00:53:41,160
Speaker 1: then we just kept actually in technology caught up to

1028
00:53:41,160 --> 00:53:43,120
Speaker 1: the fact that silver is one of the best you know,

1029
00:53:43,520 --> 00:53:46,600
Speaker 1: electrical conductors in the on the periodic cable and bab bla,

1030
00:53:46,640 --> 00:53:49,319
Speaker 1: A lot of the industrial demand for silver rise and

1031
00:53:49,400 --> 00:53:52,759
Speaker 1: the it just like there's like there's things we can

1032
00:53:52,800 --> 00:53:55,400
Speaker 1: do with these medals. Remember chemists as well, right, and

1033
00:53:55,400 --> 00:53:57,960
Speaker 1: and you know with a and for a while I

1034
00:53:58,000 --> 00:54:02,520
Speaker 1: worked you know in metallurgy, UM and encodings and and

1035
00:54:02,560 --> 00:54:04,880
Speaker 1: so it's given a lot of thought to this stuff.

1036
00:54:04,880 --> 00:54:08,279
Speaker 1: And like at some point, you know, it's a technology thing.

1037
00:54:08,280 --> 00:54:10,680
Speaker 1: Money is a technology. But but the way I meant

1038
00:54:10,760 --> 00:54:12,560
Speaker 1: like and the way I meant in technology is like

1039
00:54:12,600 --> 00:54:14,960
Speaker 1: gold was good for bigger denominations, silver was good for

1040
00:54:15,000 --> 00:54:18,399
Speaker 1: smaller denomination once week. And now we're when we when

1041
00:54:18,400 --> 00:54:20,719
Speaker 1: we when we got paper gold certificates, we didn't need

1042
00:54:20,760 --> 00:54:24,799
Speaker 1: the smaller denominations anymore. So what happened is basically, I mean,

1043
00:54:24,840 --> 00:54:27,000
Speaker 1: we had silver, we had service certificates in the United

1044
00:54:27,000 --> 00:54:28,560
Speaker 1: States all the way up you know, I was born,

1045
00:54:28,560 --> 00:54:31,239
Speaker 1: and I think about sixty eight. You can still turn

1046
00:54:31,280 --> 00:54:33,400
Speaker 1: him in up until you know, I know, I know

1047
00:54:33,440 --> 00:54:37,760
Speaker 1: people who turned him into the federal demonetized or something

1048
00:54:37,800 --> 00:54:41,239
Speaker 1: like that, right, yeah, I mean, but the point being

1049
00:54:41,360 --> 00:54:45,000
Speaker 1: is that silver eventually was no longer even held as

1050
00:54:45,000 --> 00:54:48,960
Speaker 1: a reserve asset to back the paper currency. Right, and

1051
00:54:49,000 --> 00:54:51,200
Speaker 1: at some point maybe we'll get to the point where

1052
00:54:51,360 --> 00:54:54,640
Speaker 1: gold is no longer used as a reserve asset. I

1053
00:54:54,640 --> 00:54:56,160
Speaker 1: don't know. I'm not going to live to see this day.

1054
00:54:56,280 --> 00:54:58,240
Speaker 1: Like we're gonna see that, We're gonna see the remond,

1055
00:54:58,320 --> 00:55:02,080
Speaker 1: We're gonna see treasury old actually re monetize in a

1056
00:55:02,160 --> 00:55:05,720
Speaker 1: way that is a better way of recapitalizing the central

1057
00:55:05,719 --> 00:55:12,240
Speaker 1: bank balance sheet than um default, which is what Soros

1058
00:55:12,320 --> 00:55:14,240
Speaker 1: wants to do. Soros wants to keep all the wealth

1059
00:55:14,239 --> 00:55:18,240
Speaker 1: that he's stolen, right, and then just have everybody default

1060
00:55:18,280 --> 00:55:20,080
Speaker 1: on the fiat debt, when the better thing to do

1061
00:55:20,719 --> 00:55:26,400
Speaker 1: is to um recapitalize the entire system using the treasury gold,

1062
00:55:26,520 --> 00:55:29,880
Speaker 1: but having to use it at a much higher price. Yeah,

1063
00:55:30,080 --> 00:55:33,880
Speaker 1: like and and so, and you know, again, this is

1064
00:55:33,880 --> 00:55:36,000
Speaker 1: not an original idea. I've talked about this a little bit.

1065
00:55:36,040 --> 00:55:37,759
Speaker 1: But the you know, the idea of being is that

1066
00:55:38,400 --> 00:55:41,920
Speaker 1: you know, you can recapitalize the United States. You've got

1067
00:55:42,040 --> 00:55:43,759
Speaker 1: three point five tons of gold sitting on the fat

1068
00:55:43,800 --> 00:55:48,640
Speaker 1: balance sheet. That's cents and ounced mark mark to say,

1069
00:55:48,840 --> 00:55:52,200
Speaker 1: not mark the market, but remember the Remember the World

1070
00:55:52,280 --> 00:55:54,719
Speaker 1: Gold Council, you know, puts that number out every quarter

1071
00:55:54,880 --> 00:55:57,279
Speaker 1: telling you what that is as a percentage in mark

1072
00:55:57,360 --> 00:56:00,600
Speaker 1: the market terms of US as actual reserves. News for you,

1073
00:56:00,719 --> 00:56:03,080
Speaker 1: of the total U reserves of the of the U

1074
00:56:03,120 --> 00:56:06,920
Speaker 1: S banking system, of the US banking system, now is

1075
00:56:06,960 --> 00:56:10,560
Speaker 1: that of a very small pile of of reserves on

1076
00:56:10,600 --> 00:56:14,000
Speaker 1: a massive pile of dollars. You bet your sweet bippy

1077
00:56:14,080 --> 00:56:21,000
Speaker 1: it is. But you want to recapitalize trust, it's easy. Yeah,

1078
00:56:21,280 --> 00:56:23,080
Speaker 1: he was your fifty or a hundred year bond with

1079
00:56:23,120 --> 00:56:25,080
Speaker 1: a five percent gold resemption clause at the end of

1080
00:56:25,080 --> 00:56:29,600
Speaker 1: the bond. Well, we know that central banks are buying

1081
00:56:29,640 --> 00:56:32,960
Speaker 1: more gold than any time in since nineteen seventy one,

1082
00:56:32,960 --> 00:56:36,040
Speaker 1: so there's certainly more than more than fifty last year

1083
00:56:36,120 --> 00:56:39,080
Speaker 1: was of total demand. Gold demand this year is going

1084
00:56:39,120 --> 00:56:41,440
Speaker 1: to be more than that, probably somewhere around seventeen or

1085
00:56:41,480 --> 00:56:43,200
Speaker 1: eighteen the And we have to wait for the Q

1086
00:56:43,360 --> 00:56:46,799
Speaker 1: four numbers because a lot of the smaller buyers of

1087
00:56:46,800 --> 00:56:48,520
Speaker 1: gold from the central banks like to just make one

1088
00:56:48,560 --> 00:56:50,840
Speaker 1: big purchase at the end of the year Hungary for example,

1089
00:56:50,920 --> 00:56:54,880
Speaker 1: last year, Japan a couple of years ago, right, um,

1090
00:56:54,920 --> 00:56:56,200
Speaker 1: And you know there are only there are only a

1091
00:56:56,280 --> 00:56:59,120
Speaker 1: few like Serbian Newsbekistan and Kazakhstan and others who just

1092
00:56:59,200 --> 00:57:01,439
Speaker 1: buy every month like it's you know, it's just part

1093
00:57:01,440 --> 00:57:03,719
Speaker 1: of their their buying program. By the way, it was,

1094
00:57:03,760 --> 00:57:06,200
Speaker 1: Bekistan is buying like eight point seven tons of gold

1095
00:57:06,560 --> 00:57:10,200
Speaker 1: a month. It's Bekistan. It's a lot of gold, eight

1096
00:57:10,239 --> 00:57:11,920
Speaker 1: point seven tons of gold. Why would they keep their

1097
00:57:11,920 --> 00:57:14,400
Speaker 1: money in the financial system. If freshly gets their accounts frozen,

1098
00:57:14,440 --> 00:57:18,000
Speaker 1: that what what hope do they have? Right? Right? And why?

1099
00:57:18,280 --> 00:57:21,000
Speaker 1: And and and and that's a number, by the way,

1100
00:57:21,560 --> 00:57:23,280
Speaker 1: where we don't know what the Russians have been buying

1101
00:57:23,280 --> 00:57:25,400
Speaker 1: this year because the Russians aren't telling anybody and needed

1102
00:57:25,440 --> 00:57:29,840
Speaker 1: us China, yeah, oh, the Chinese and the Russians. And

1103
00:57:29,880 --> 00:57:33,120
Speaker 1: seeing the thing about about a gold redemption clause for

1104
00:57:33,200 --> 00:57:36,440
Speaker 1: a just to make sure everybody understands that the mechanics

1105
00:57:36,440 --> 00:57:38,840
Speaker 1: of this, and it's just I have to have to

1106
00:57:38,880 --> 00:57:40,440
Speaker 1: run in a couple of minutes because they've got another,

1107
00:57:40,680 --> 00:57:42,600
Speaker 1: got another thing that I've got somebody waiting for me.

1108
00:57:42,920 --> 00:57:46,439
Speaker 1: But to remember this you can issue. This is why

1109
00:57:46,440 --> 00:57:48,280
Speaker 1: I say that at some point the FED is gonna

1110
00:57:48,320 --> 00:57:50,280
Speaker 1: want the price of gold to rise. Oh, by the way,

1111
00:57:50,280 --> 00:57:51,800
Speaker 1: I also think at some point that FED is gonna

1112
00:57:51,800 --> 00:57:53,439
Speaker 1: want the price of bitcoin the rise, because I also

1113
00:57:53,440 --> 00:57:59,240
Speaker 1: see bitcoin entering into the global reserve system as well.

1114
00:57:59,320 --> 00:58:01,240
Speaker 1: I think the Fed's gonna wind up putting bitcoin and

1115
00:58:01,240 --> 00:58:05,080
Speaker 1: its balance sheet in ten years. Baker Noodle, do you

1116
00:58:05,120 --> 00:58:06,480
Speaker 1: think you're gonna get rid of Do you think you're

1117
00:58:06,480 --> 00:58:10,280
Speaker 1: gonna get rid of the Fed, No, boys, I don't

1118
00:58:10,280 --> 00:58:12,240
Speaker 1: think that's gonna happen. But I can see the FED

1119
00:58:12,280 --> 00:58:15,080
Speaker 1: buying or at least part of the US banking system

1120
00:58:15,080 --> 00:58:17,720
Speaker 1: being backed by bitcoin, already seeing it. So there's no

1121
00:58:17,760 --> 00:58:19,480
Speaker 1: reason not that you know. And we're already seeing an

1122
00:58:19,480 --> 00:58:22,520
Speaker 1: investment at the investment level, you know, at the at

1123
00:58:22,560 --> 00:58:25,840
Speaker 1: the at the family office level, and whynot. Why wouldn't

1124
00:58:25,840 --> 00:58:28,240
Speaker 1: we see it somewhere else? I would see it everywhere.

1125
00:58:28,920 --> 00:58:32,920
Speaker 1: So but as far as like a gold redemption clause

1126
00:58:33,000 --> 00:58:36,000
Speaker 1: is concerned, you don't have to issue. You can keep

1127
00:58:36,040 --> 00:58:38,040
Speaker 1: the FED funds rate at six percent, but issue fifty

1128
00:58:38,080 --> 00:58:42,040
Speaker 1: year debt with a two percent coupon. Now, all of

1129
00:58:42,080 --> 00:58:45,120
Speaker 1: a sudden, your your budget crisis from a six percent

1130
00:58:45,160 --> 00:58:48,360
Speaker 1: FED funds rate isn't as bad as you think it is.

1131
00:58:49,200 --> 00:58:51,640
Speaker 1: Now you can roll over the existing data two percent,

1132
00:58:51,880 --> 00:58:55,560
Speaker 1: paying two percent coupon, but with a but with the

1133
00:58:55,600 --> 00:58:57,800
Speaker 1: net present value of the bond being linked to the

1134
00:58:57,880 --> 00:58:59,920
Speaker 1: gold price. Now you can let the price of go

1135
00:59:00,000 --> 00:59:03,520
Speaker 1: old find its new level and the investors will hold

1136
00:59:03,520 --> 00:59:05,400
Speaker 1: onto these fifty year bonds that they're only getting paid

1137
00:59:05,400 --> 00:59:07,960
Speaker 1: two percent dollars every year, but they're getting ten or

1138
00:59:07,960 --> 00:59:11,560
Speaker 1: twelve or fifteen percent in goal. And that way you

1139
00:59:11,600 --> 00:59:14,640
Speaker 1: can slowly allow the price of gold to to you know,

1140
00:59:15,720 --> 00:59:18,600
Speaker 1: rise to its commensurate level over ten or fifteen years.

1141
00:59:18,640 --> 00:59:20,560
Speaker 1: And at any point you just leave a clause and

1142
00:59:20,600 --> 00:59:22,560
Speaker 1: the thing that the bond is callable at the net

1143
00:59:22,560 --> 00:59:25,880
Speaker 1: present value in dollars based on the current market price

1144
00:59:25,920 --> 00:59:28,320
Speaker 1: of goal. So that if you bought a ten thousand

1145
00:59:28,320 --> 00:59:31,480
Speaker 1: dollar bond, you know, five of which is at the

1146
00:59:31,520 --> 00:59:35,080
Speaker 1: time of the sale is recoverable as redeemable as as

1147
00:59:35,120 --> 00:59:38,640
Speaker 1: a as treasury gold. That price is that five worth

1148
00:59:38,680 --> 00:59:41,480
Speaker 1: of gold rises to I don't know, you know, a

1149
00:59:41,560 --> 00:59:44,040
Speaker 1: fifteen hundred bucks, and you call the bond in the

1150
00:59:44,040 --> 00:59:46,240
Speaker 1: whole bond is worth now you know, twelve thousand dollars

1151
00:59:46,240 --> 00:59:48,280
Speaker 1: you pay, you pay the people off the you know,

1152
00:59:48,320 --> 00:59:50,720
Speaker 1: the bond holders back in those dollars. But if you

1153
00:59:50,800 --> 00:59:54,000
Speaker 1: were able to do that and fix the fiscal side

1154
00:59:54,000 --> 00:59:57,840
Speaker 1: of the equation by doing fiscal um you know, reasonable

1155
00:59:57,840 --> 01:00:00,680
Speaker 1: fiscal management along with a re regional nation, the federal

1156
01:00:00,680 --> 01:00:02,560
Speaker 1: words the FED funds rate with SOFA and all the

1157
01:00:02,560 --> 01:00:05,640
Speaker 1: rest of it, and and and risk being assessed by

1158
01:00:05,640 --> 01:00:09,080
Speaker 1: commercial banks and not being set at the margin really

1159
01:00:09,160 --> 01:00:12,840
Speaker 1: by the by the central Bank, and all of a sudden,

1160
01:00:13,000 --> 01:00:14,640
Speaker 1: we have a system that's a hell of a lot

1161
01:00:14,640 --> 01:00:18,320
Speaker 1: closer to like austral libertarian utopia. Then you think you're

1162
01:00:18,720 --> 01:00:23,080
Speaker 1: you think, um, you was ever possible. It's possible, but

1163
01:00:23,160 --> 01:00:29,240
Speaker 1: it's gonna require a dramatic amount of change, dramatic shift

1164
01:00:29,280 --> 01:00:32,600
Speaker 1: in thinking. Now here's the king, here's the big gig. Ready,

1165
01:00:32,960 --> 01:00:34,680
Speaker 1: what do you think the Russians in the Chinese are

1166
01:00:34,680 --> 01:00:37,240
Speaker 1: gonna do at some point if anybody thinks that we're

1167
01:00:37,240 --> 01:00:41,400
Speaker 1: gonna um that, you know, like if they could always

1168
01:00:41,480 --> 01:00:44,160
Speaker 1: just restate their gold reserves and then do this exact

1169
01:00:44,160 --> 01:00:46,080
Speaker 1: thing that I just talked about, and they will call

1170
01:00:46,160 --> 01:00:49,400
Speaker 1: capital away from the from the West very quickly. So

1171
01:00:49,520 --> 01:00:51,080
Speaker 1: it's going to be in the Fed's best interest that

1172
01:00:51,120 --> 01:00:53,400
Speaker 1: the FED wants to survive, that the Fed goes. If

1173
01:00:53,440 --> 01:00:57,200
Speaker 1: it doesn't go first, then it goes. This is why

1174
01:00:57,280 --> 01:01:01,160
Speaker 1: the midterms tomorrow or Sadam the board the theory, it's

1175
01:01:01,160 --> 01:01:03,280
Speaker 1: a great plan, tom I think the problem with that,

1176
01:01:03,520 --> 01:01:05,560
Speaker 1: The biggest problem I see with that plan is that

1177
01:01:05,640 --> 01:01:08,920
Speaker 1: it's you know, too much common sense, it's too practical,

1178
01:01:08,920 --> 01:01:11,680
Speaker 1: and it would work too well, So they probably would

1179
01:01:11,760 --> 01:01:14,240
Speaker 1: never want to go to night However, it's not that

1180
01:01:14,320 --> 01:01:16,440
Speaker 1: far fetched because we know what it was. After nineteen

1181
01:01:16,480 --> 01:01:18,640
Speaker 1: seventy one, the US was forced to issue bonds in

1182
01:01:18,920 --> 01:01:24,040
Speaker 1: other what other currencies right or other? Uh during so

1183
01:01:24,240 --> 01:01:25,480
Speaker 1: they were forced to do it, and they may be

1184
01:01:25,560 --> 01:01:27,360
Speaker 1: forced to do again. I know you gotta run, Tom,

1185
01:01:27,560 --> 01:01:31,960
Speaker 1: We went long as always. I appreciate uh being able

1186
01:01:32,000 --> 01:01:34,760
Speaker 1: to chat with you. Uh, you write an awesome newsletter

1187
01:01:34,760 --> 01:01:36,960
Speaker 1: which I recommend, Gold Goats and Guns. You got the

1188
01:01:37,000 --> 01:01:39,880
Speaker 1: podcast as well. Uh, we'll make sure to link down

1189
01:01:39,880 --> 01:01:43,320
Speaker 1: that below. Anything you want to shout out, no, just

1190
01:01:43,360 --> 01:01:46,120
Speaker 1: follow me on Twitter. We're on TfL se if you

1191
01:01:46,160 --> 01:01:48,040
Speaker 1: want to. You know, you want want some snark with

1192
01:01:48,080 --> 01:01:50,120
Speaker 1: your with your core inflection. Yeah, so we'll make sure

1193
01:01:50,160 --> 01:01:52,600
Speaker 1: to link of Twitter. Uh your newsletter in there, which

1194
01:01:52,640 --> 01:01:55,360
Speaker 1: is awesome. I recommend it, and uh with that, we'll

1195
01:01:55,400 --> 01:01:57,680
Speaker 1: we'll wrap it up. Thanks Tom, Thank you, Mark. You

1196
01:01:57,800 --> 01:01:59,160
Speaker 1: have a good day now. All right, that's a rap.

1197
01:01:59,200 --> 01:02:01,400
Speaker 1: Hopefully you enjoyed the conversation as much as I did

1198
01:02:01,520 --> 01:02:04,160
Speaker 1: having it. Make sure to check out Tom Luongo's Gold

1199
01:02:04,160 --> 01:02:06,320
Speaker 1: Goats and Guns. We're gonna link to that down below

1200
01:02:06,360 --> 01:02:09,880
Speaker 1: in the notes. Follow him on Twitter. Hopefully you take

1201
01:02:09,960 --> 01:02:13,480
Speaker 1: this information think about it, absorb it, and then go

1202
01:02:13,720 --> 01:02:16,360
Speaker 1: discuss it. Share this information. We're trying to wake as

1203
01:02:16,360 --> 01:02:18,440
Speaker 1: many people up. That's my only ask. I try to

1204
01:02:18,440 --> 01:02:19,800
Speaker 1: bring you as much fight as I can, and my

1205
01:02:19,880 --> 01:02:22,680
Speaker 1: ask to you is if you can share this information,

1206
01:02:22,720 --> 01:02:26,280
Speaker 1: discuss it, discuss these ideas, teach your kids, all right,

1207
01:02:26,280 --> 01:02:28,360
Speaker 1: That's what I got to your success amount