A lot of mischaracterizations John about exactly what's happening here. And you have to
understand. All the bond does is stay the plaintiff, in this case,
the State of New York from enforcing the judgment, which means property seizures,
bank accounts, all that stuff. That's all it does. If he didn't
post the bond, he still could have pursued the appeal, but then if
he won, he would have to like go to New York State and get
his stuff back, and you can only imagine what that would be like.
So this is a victory for him. You're listening to Carrie Let's's Financial Survival
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Financial Survival Network now more than ever, and welcome. You are listening to
and watching the Financial Survival Network on your host, Carrie Lentz. It's three
twenty five, twenty four. Big news on the Trump front and big news
on the inflation front, as well as a couple of other fronts out there
crypto bitcoin back over seventy thousand, shocker of all shockers, and John Rabino
is with us now, John, So that has the FED thrown in the
towel on inflation, Hey, Kerry, kind of maybe, because you know,
inflation, especially the services part of the CPI in other words, insurance
kinds of Thames and healthcare stuff like that, that's still in the four percent
plus range, which is twice the FEDS target range, so that you wouldn't
normally think a central bank would hut interest rates in the face of four percent
inflation, record stock prices, record house prices, and be low four percent
unemployment, right, but they're talking about doing it. They kind of intimated
three cuts this year, and if they go with that, then monetary policy
starts to be easier. At the same time, fiscal policy, in other
words, government deficits is massively stimulative, so you would have the whole government
stimulating the economy at a time when you know, inslation is high, stocks
are way up, and so then we're kind of talking about stagflation there because
the economy, despite all those good headline numbers, isn't growing very fast or
anything, because most people are saddled with a lot of consumer debt, which
limits consumer spending. So you would have modestly growing, if growing at all,
economy and inflation at four percent and maybe higher with all the new money
coming in and the government easing even further. So that's the nineteen seventies over
again, only you know, on steroids, because the numbers are all so
much worse now. You know, we had a pretty good financial system,
pretty rock solid back then because we had relatively little debt in the nineteen seventies.
Now we're massively indebted. So take the nineteen seventies kind of conditions,
easy money, rising inflation, rising interest rates, that kind of bit transplant
it to today, and you've got a nightmare. You know, something that's
just completely unfixable, and that might be kind of where we are now with
the Fed talking about no way out, no way out. Well, you
know, one of the indicators that's flashing that what you're saying is correct is
look how long gold has been over two thousand and now over twenty one hundred,
and intra day last week it hit twenty two hundred. So the gold
market seems to be agreeing with you. Yeah, gold is obviously a signal
that people are losing faith in the big FIAC currencies because driving the price right
now is in part central bank buying. The central banks, especially Asian central
banks, are buying massive amounts of gold, which implies that they see currency
turmoil in the future and they want rock solid assets in their reserves to back
up their currency. So that's part of what's pushing gold up. And then
on the Shanghai Gold Exchange, which is a physical gold exchange, gold is
trading at a premium where it's trading in London, which is a paper gold
exchange, and on the COMEX, so that kind of implies that the physical
market is starting to set pricing, which goldbugs have been waiting for this forever.
That was the thing that was going to break the Western exchanges and then
send gold much higher because the physical price would be a lot higher if physical
was allowed to dictate prices, and so we're kind of seeing that too.
At the same time, though, there are lots of other signals of fear
and loathing for few currencies, because you've got Bitcoin going through the roof,
it's at seventy thousand as we speak right now, and you've got tech stocks
which are in a lot of cases seen as safe haven assets once they get
big enough. You know, everybody assumes Google is untouchable. Therefore put your
money there because it'll be safe. Now we've got Nvidia and any basically anything
related to AI, giving us a dot com like bubble. At the same
time, big tech is looking like risk free treasury bonds. You know,
everybody's owning them for their safety. So yeah, you've got you've got the
conditions for a big pop in inflation, a big pop in interest rates in
response to higher inflation, and then a crash for the agents. Then that
that could be the story of this decade or the first you know, the
next few years. Really, it doesn't have to have another decade in which
shade. So in other news, it looks like broke Donald as they're calling
our former president is going to be at least three billion dollars richer this week
when his social media platform merges through a you know, a backdoor merger to
basically make him a multi billionaire if he wasn't already, which I think it
was obvious he was. I mean, the opposition always likes to downplay his
his net worth and all this and say he's just blowing smoke. But you
know, this could be the way where the Normi's out there exact their revenge.
Should you remember when Michael Moore said that this election, you know,
Joe Blow, Steve Blow, Bill Blow, and Blow Blow will give the
establishment the biggest middle finger in history and they will elect Donald Trump as president.
He predicted it. I knew he was correct at the time. And
what happened. It happened. So if every normy out there, if every
Bill Blow and Joe Blow and Steve Blow and the rest of the blows out
there decide to blow the stock up, what's to stop them from making Trump?
Maybe Trump could be Look, if they could make Elon Musk the richest
man in the world, maybe they'll make Trump the richest man in the world.
Is it possible here, John Boy? This story just illustrates so many
things. First of all, it illustrates the ineptitude of the current sitting government
because it's like three days ago that they decided to give Trump a nickname broke
Broke Dawn. I want to mean that broke. Yeah, So three days
after they roll out that nickname, the guy, I find an extra three
billion dollars out there. Second part of that is you know, Trump is
just incredibly lucky. He's he's been getting the breaks with all of this stuff.
You know, every time somebody gets close to convicting him on something important,
they crash and burn in some fundamental way, like down and you know
the Fawnie Willis thing down in Georgia, and as is about to happen with
the New York real estate case. So you know, he's getting the breaks
here. Just when it looks bad, he gets some kind of lucky break
and he's okay. And now this this latest thing. You know, truth
Social is a very tiny social media platform. It is worthless. Yeah,
it has a few million dollars of revenue. It actually loses money. So
it's it's you know, if it's worth anything, it's worth some small multiple
of sales, you know, so ten million, twenty million dollars, something
like that. So for it to be valued at eight billion or whatever it's
going to go public ad means it's another mean stock that people, you know,
people latch onto the idea that they buy the stock, they push it
way up without any regard to its actual value. Fundamental yeah, yeah,
yeah, any fundamentals. And so yeah, you're right that this is two
things. One is it's a backdoor way for people to donate to the Trump
campaign. And I'm you know, on substack, I'm getting a lot of
direct messages from people asking that question, Hey, I want to buy from
social media stock? How do I do that? You know? And the
time is coming when you can do it very easily. So I think,
you know, if I'm hearing three or four people a day on my substack,
that means it's thirty or forty million people across the country thinking about doing
something like that. So yeah, it could. It could generate tangible wealth
for Trump. Although you know, when you own already taken a meme stock,
you can't get your money out because if you sell it, it'll collapse.
So we'll have to see how that plays out. But maybe he can
borrow against it, like you said before we went live, or maybe he
is able because of his relationship with his stockholders. He's able to sell the
stock and in effect transfer it to them, and that allows him to get
the money to do it say whatever finds yeah, yeah, and and that
allows him to finance his presidential campaign the rest of it, because they don't
have as much money as the Democrats. Right now, but I need it
Trump. If Trump says, well, I'll tell us a billion at this.
You know, I have so much money, let me just pay a
billion dollars on my campaign. And he uses that as a way to brag,
which he likes to do about his money. Then all of a sudden,
they've got more money than the Democrats. And have you seen any of
the pro Trump and the anti Biden ads that are floating around. Oh my
god, they're they're they're like devastating. They are. Yeah, they're just
devastating. There's one that I mean, you know, I totally responded to
it, but but I didn't want to because it was an awful lot like
what was the Hitler's filmmaker, you know, molord, No, no,
no, no. This was one where it was we are the strongest people
in the world, and there is a darkness coming and we will find you
know. It was one of those which could have been the rise of Nazi.
But but I totally responded to it, you know, I was.
I was pumped after I saw it, So, you know, so it
fits today while being uncomfortably like some things for more past. But there's a
bunch of Trump bands like that and there's there's one I think might be the
best of all. There was a woman on his I guess it was a
TikTok video who said, well, I just went on Trump's website and and
here's what he wants to do, and he's going to close down the education
Department, and he's going to build a wall across our southern border. You
know. She named all the things he wants to do. Oh yeah,
and it was beautiful. It was like any any you know, Trump supporter
would look at like see that and think, Okay, that's the man I
want, you know. And but that wasn't Actually that was an un anti
Trump video, but it sounded like the perfect pro Trump ad to people,
you know, on our side of the political spectrum. So there's just a
lot of them out there. So I don't think the Trump campaign needs an
awful lot of money when they've already made the ads that could win the election
for him, they just get them out there somehow. So fascinating times an
election. Jackison, Yeah, well, hey, we we would be remiss
if we didn't mention the fact that today the Appellate Division, First Department of
the Supreme Court of the State of New York. And you've got to understand
the way the courts worked there, the structure. I'll explain it briefly,
but they basically cut Trump's bond requirement from four hundred and fifty four million to
one hundred and seventy five million, and this is being perceived as a win
for Trump. So in New York, the trial court is the Supreme Court.
The intermediate appellate court is the Appellate Division. The Appellate Division has four
departments. First, being in Manhattan, covers just Manhattan in the Bronx,
The second covers the second department covers the other boroughs in New York and Long
Island and Westchester County and a few upstate counties. Third departments Albany and Upstate.
Fourth department is like Buffalo and Erie County and the counties adjoining that.
So I had a lot of experience in the first department. My company rented
up cases on appeal. That was our largest court that we dealt with.
I knew the clerks, they were well and the judges. Historically that has
been a very hot bench, meaning they actually read the stuff that comes to
them, and the very competent and very you know, definitely tilt's left,
but left with a brain and kind of like I would call a Second Amendment
Democrat. So but here they cut it. I think Trump really he could
have gotten that other bond, but not in the form of a bond.
He would have had to have gotten a letter of credit from a bank.
Letter of credit generally is acceptable as security. So a lot of mischaracterizations John
about exactly what's happening here. And you have to understand, all the bond
does is stay the plaintiff, in this case, the State of New York
from enforcing the judgment, which means proper seizures, bank accounts, all that
stuff. That's all it does. If he didn't post the bond, he
still could have pursued the appeal, but then if he won, he would
have to like go to New York State and get his stuff back, and
you can only imagine what that would be like. So this is a victory
for him. Still don't think he can get anyone to post a bond,
But what he'll do is basically a letter of credit is what I would anticipate.
So but the point is, this isn't going to happen. In case
they take three to six months sometimes longer to decide an appeal at the Color
Division. So it's very possible that come to November fifth, or whatever election
day, the day after election day, the decision comes down. Then my
prediction is they can't totally exonerate or absolve Trump. What they'll do as a
slap on the wrist, which is ten twenty million dollars slap on the wrist,
pretty much nothing for Trump. And so they can have the judge keep
face to some extent, although that's an impossibility at this point. But for
them them to save face and for the Letitia James to save face, they
say, well, we got twenty millions, so you know we were on
to something, we were right, and we just don't agree with how much.
That's what's going to happen in the end here, John. They won't
just let them go. It'll appeal it to the Supreme Court. Supreme Court
won't know it's discretionary what they want to hear. They won't hear the case
if it's down to ten at twenty million, there's just nothing in it for
them to do it. Yeah, okay, well, I think so many
of these things are just going to peter out. They will either be delayed
beyond the election, or they'll just kind of fizzle and then you know,
then it will be an actual election without all this other stuff in it,
and that that's when the false flag happens. We don't know what it's going
to be, yeah, but it's going to be something. Yeah. Yeah,
Well we've already got Europe. France, France, you know, like
not you like military superpower, said they're going to send sixty thousand troops to
Ukraine. I don't know if this is a trial balloon, but if they're
sending them, that means England's going to send them for sure, and Germany
and probably Italy and probably these Eastern European countries like Poland and you know,
all the other all the other former Soviet satellites because they want payback. This
is getting tribal now, this is really tribal at this point where Europe to
send troops in there, it's really broken down to the point where whatever the
underlying issues were, it's kind of like the Hatfields and the McCoys. They
killed each other for decades to the point where the people who are killing themselves
not that long ago didn't even know why they were fighting but they just knew.
They hated the hat Fields, hated the McCoys, and the McCoys hated
the hat Fields. And that's what this is about. Okay. I would
disagree with you on that and say that this is about the aristocracy that runs
most of the Western world wanting World War three because they believe there are benefits
for them. You know, they got their end of the world bunkers in
New Zealand and everything. They're not really worried themselves about this happening, but
they see ways to turn this to their benefit. You know. That's the
crisis that allows them to declare martial law, or that's at least the crisis
that allows them to you know, delay and or steal whatever elections are threatening
them. So yeah, I think they're they're deeply threatened by the rise of
populism and they want to put a stop to that, you know, and
a shooting with a nuclear power will distract everybody to a point where they're able
to get a lot of stuff done, you know. And I think that's
the rational because as you know, you wouldn't you wouldn't at your Poland you
don't want a nuclear war with Russia. That's not a good thing for you.
But if the guys in charge of the economic union of which you're apart
ordered you to do it, maybe you feel like you have to. And
you know this macron Oh my god, you know who is who's worse?
The guy Canada or the guy running France. You know that would that that
would be one for one of those i'm X things where they put it up
and let you vote, you know, one of those polls, because I
personally hard to tell which one is worse. I always said that containing Russia
was really, in the long run, all about containing China, stopping China's
growth, stopping them from becoming the hegemon of the new World order. They
weren't going to allow it. And all of what's going on there with their
economic collapse, it's all engineered and by design. Yeah, I mean,
the bloodthirsty people who are running the US government would love to be able to
take all the other big pieces off the chessboard. And yeah, you know
the idea that doing something that allows them to declare martial law at the same
time it hobbles China to the point where China maybe dissolves. You know,
that would be a win win from their point of view, and they're you
know, in the Ukraine case, they're ignoring four hundred thousand dead Ukrainians because
they really don't care. In China's case, you know, there may be
millions or tens of millions die in the process of this, and they still
think that would be worth it. So these are evil people, and they
are largely in charge. I don't think you know by and is deciding any
of this, and so I really worry with the election coming up, that
gives them a deadline. And that's what worries me most is that they feel
like they need to make something happen now, and that when you're under deadline,
you tend not to think long term because you got this thing right in
front of you that you've got to deal with. And so that's that's I
think the story of the next six or so months is what crazy thing is
going to happen. The changes the current electoral calculus where one side is likely
to win. If they have the election today, it's clear that would win.
How do they change that and what big thing do they implement that?
So I don't know. Whatever they're going to try, it's going to be
very scary and you know what, we haven't had our cyber attack yet that
we've been waiting for for all this time, so it could easily be just
something that shuts down the banking system for a little while and then oh,
we can't be yes, we can't change horses in the middle of a financial
praise of the stream, you know that kind of thing. That would be
the that would be the sales pitch. Yeah, well, I guess they
have a point, but yeah, no, I agree with you. It's
all the elites who are choreographing orchestrating everything that's happening. And you know,
Putin is not exactly a sympathetic character. You know, he just looks like
a killer a stone could they never are That's part of the whole central casting
aspect of this. They picked the guys that he's scariest, because remember it
was Sadan Hussein for a long time. He looks like a monster. And
then came Assad, who's a very scary guy in Syria, and you know
he was he was the Great Satan, and somewhere along the line there was
Molmar Kadaffi too, and then Trump and then the Great and then came Trump.
Well then now there's a partnership between Trump and Putin. In the minds
of the guys who were manipulating public opinion, you know, they well we
all know Trump is a Russian uh double agent? Right? Yeah, well,
I mean that see Putin was there the next Hitler, and they decided
they were going to tie Trump to Hitler. And you know, it's I
think it's understood now, right, is it that Hillary Clinton her campaign created
the Steele dossier. Oh yeah, there's no question, brought us to the
FBI and lied to the FBI about it. So they engineered this whole thing.
But that was that was part of it. Russia. You know,
Putin was a guy that Hillary Clinton disliked deeply, and so was Trump.
So tying them together was a really nice piece of political jiu jitsu from their
point of view. I'm sure they're very proud of that idea where we came
up with it. But you know, now, but it didn't it didn't
completely work. Putin is winning the the Ukraine War and Trump is ahead in
this election. So now what that's that's the question. What we're indous thing
is going to happen that changes all of that, And I you know,
shuddered a bank what it would be, because it's got to be something pretty
big at this point in the process. It's a it sounds like it's a
doubleheader there for the comedies. He got Trump and putin, you know,
the nightmare scenario, and you got to figure, like, I don't know
if Trump's really vindictive or not. His first term, he just wanted to
work with the deep state and you let me do my thing, I let
you do there yours. But now after all that's transpired, I got to
believe he's going in there with a wrecking ball and they know it, and
they're none too thrilled about it. Well that see, that's got to be
part of what's motivating the deep state. And because you know, they're they're
thinking out about what they would do right, and they would come in and
they they were given the power to do it, they would just eliminate everybody
who disagreed with them one way or another. And so they're looking at Trump
and thinking, wow, you know, if he gets a just late of
the majority and wins the presidency, he's going to come after us, you
know. And so he's got a challenge to control that impulse because we don't
want what we don't want is for the US to become a banana republic where
it's normal for the winner in every election to purge all of their opponents.
So he's got a it's going to do this right. He's got to go
after the people who really truly deserved what they're going to get, and where
there's evidence that's absolutely incontrovertible. Okay, you know none of this made up
stuff, and that's not everybody. That's relatively few. You could you could
probably convict Hillary Clinton of a political crime over the still dosiology that's run.
Yeah, it's a run for Hillary. Too bad, because that is one
that looks legit from a legal standpoint. Anyhow, you know, Trump,
if he wants to confound everybody will come out and be a state then where
he doesn't stage show trials or anything, and he doesn't go out there and
try to destroy lives, and he does the stuff he got elected to do.
He builds that wall, He rounds up all the illegals and puts them
back in Mexico so they can get in line and come in legally. You
know, he does those things and and and gets brings jobs back from China,
stuff like that. Yeah, you know, the things that the things
that his people really want. Yes, he Well he would be and this
is a bizarre thing for me to say. He would go down in history
as a great statesman. You imagine Donald Trump, you know, being being
one of history's great statesmen. But you know, if he does it right,
he has a chance here to do something like that where where people look
back at what he could have done and see what he actually did do and
and they're actually impressed. You know. So that's his that's his opportunity.
All right. Well, hey, I think we got a couple other Uh,
I think we've covered enough for now. I think we will leave it
at that. Make sure you go over to John's substack Orbino dot substack dot
com, visit our other site, our sisters site, Inflation dot Cafe,
and of course make sure you go to Financial Survival Network dot com sign up
for free newsletter if you haven't already. John, We will talk to you
in a couple of weeks. Any questions or comments shoot me an email kl
at carrie lets dot com. Feel free to leave ample comments on the YouTube
channel. John talk to you a couple of weeks. See care. Thanks
for listening to Carrie Letz's Financial Survival Network your solution to today's trying times.
For the latest, go to Financial Survivalnetwork dot com. Financial Survival Network now
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