The main play in Gold and Silver was to as an investment to make money.
What it really is far more than that, especially what you can rig
the game is it's a life insurance policy. You're listening to Carrie Leutz's Financial
Survival Network, where you get valuable information you just can't find anywhere else to
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Financial Survival Network now more than ever. And welcome you are listening to
and watching the Financial Survival Network. I'm your host, Carrie Letz. Well,
our good friend Daryl Shoon is with us now. You find his work
at d R Shoon f choo dot com. And hey, Daryl, you're
forward thinker. So that we have to worry about AI or will we wind
up killing ourselves before AI can get around to it. Carrie, Let's let's
uh, my answer on AI is SIS as the answer to everything? Or
what kind of answer it is. Let's dial back to the Middle Ages,
all right, Like let's say twelve hundred and we had some rudimentary form of
AI. Then if we asked AI is the world flat, The answer would
be yes, I mean, without a doubt. Yeah, oh no,
everybody's thought, from anybody who'd written anything, and probably was in Latin.
All right, is the world flat? The answer would equivocently be yes.
All right. So that's my thought. I mean, it's like I am
sure, Carrie, I mean what the fact One of my sayings is what
you don't understand is explained by what you don't know, all right, which
is true? All right? Would you? I don't understand it is explained
by what you don't know. So if there's more information, then it's probably
in that information. Well, the the idea that AI is going to go
through that information and find what's true or not is only dependent on whether it
is the prevailing thought form of the moment. Mm hmm. All right.
So if you asked, AI, shouldn't Galileo be put to death? Yes?
Right, right? And and then it will probably say and throwing Copernicus
for boot to boot, Yeah, both get rid of from Yeah, I
mean, and it's it's not that it's it's it's like it's like Google and
steroids, okay, and you know, and and my thought is he's sure
it has application, but The truth is, it's not more information that's our
problem. I mean we're browning. Yeah, okay, And and it's like
I made a joke about the CIA. I said, is if control didn't
work in the past or dictators, if control didn't work in the past,
more control is gonna work in the future. And that's how it is with
information. If we if are, if we say, if we it appears
that we have insufficient information, more information is gonna solve. I don't think
that's true. I think find me, I think I think. I mean,
for example, I'm so far off the charts carry because of my background.
I don't think like anybody, Okay, And in fact, I came
into this thing from a totally different point of view. In fact, I'm
gonna go on, I'm about to launch TikTok this week, all right,
And that's a totally different audience than the one we're speaking. Yeah, the
one we're speaking it out is they don't need ai for gold, silk for
things like that, all right. I Mean, everybody's on the same page,
basically, you know, we differ as to what's gonna happen with but
we're on saye page, TikTok hotly if an audience totally off your approach.
And so what I realized was I came out in a different way. But
but I think in that's this for what we're talking about today. In two
thousand and seventh, when I wrote my book Time of the Vulture, all
right, I predicted a severe economic crash, A crisis was going to happen,
followed by a catastrophic collapse. Did E COmON? That was in two
thousand and seven. In two thousand and eight, in September, the crisis
happened. Bear Stearns went down, AIG went down, the whole thing started
going down, all right. Then, So the crisis happened, but the
complete economic collapse didn't. Why that because in two oh nine the central backs
did something they had never done before called quantitative easy. All right. Now,
my metaphor for TikTok is the economy is like a toilet jingling to handle
no longer works. Okay, yeah, I mean I had the shift to
TikTok, all right. So I came up with that, all right.
And what I said was in two thousand and eight they were januaryd and it
didn't work. About so what the handle of the economic toilet as bro Kennedy,
it's broken that holy shit, all right. And so what happened is
because I realized that in four months this is we're in trouble. So what
they did in January two thousand and nine is they began doing something they'd never
done before quantitative visa. And my metaphor is what they did was they put
a garden a water hose in the toilet day all right. Why because when
they took gold and silver out of money, it had no value and what
it merely became was circulating credit and debt oka sitting around. And what happens
is when debt's default, which is what happens in a speculative crash like the
subprime crash and the Dark Karf crash. When you have a severe crash specuative
crash, debts can't be repaid. Everybody's on the calm, you can't make
good. I mean, they bet start calling in money. What we call
money disappears, all right, because it's not really money as we knew it.
Then, all right, it's circulating credit and debt. And so when
it's no longer circulating, what we think is money appears to this isaper it's
not there anymore, all right. So that's what they started doing in two
thousand and nine, in two thousand and every time after that because the boys
who control the game, it's not I thought about the gain of the banker's
gang capitalism because we could talk about skinning the game. You can't do me
this week, Arry. It is a game. It's the banker's gang,
and it's our skin. The bankers are play where it's our collected deposits,
savers, deposits that go into bag that allows the banks to leverage to make
ten times to twelve times the amount of loans on that and load it back
to us at quadruple the interest rate based on the loans that they're giving us
for our our CD or our Are you knowing what it's like? As if
the casino was actually gambling at their own casino with with every all the money
they won. Right, it's from us, yes, and that's what it
is. So the heights no longer is the house. No, but it's
true. So what happens is in two thousand and nine they had to put
a garden hose in the water tank. Just keep it going to fleshy,
all right, because people would notice, holy shit, I'll work it.
So and they know if this isn't right, because it's strung when you start,
because the guard because when they had when they liqui faded, when they
put more money in, what that means is they're putting more credit into the
system, all right, and the consequence of credit is debt. It goes
in his credit and immediately becomes debt. So though they know, they knew
the longer that O's was in the tank with with with the extreme amounts,
with the water pressure way up, that's not good for the toilet. Yeah,
we're all right that that it's a balance with you credit debt. And
so every time, and so what happened with the toilet, with the water
holes in the toilet, tank stocks started going up again, prices going Oh
so everybody who was in finances got richer. What because they are closest to
the water hose. Everybody downstream, retirees, workers, you know, you
don't get it. Everyge you don't even have access to it, all right,
I mean so, but the boys at the front and they get access,
they can jiggle with it. So but but what they tried to do
over the next decade, they tried to take the hose out of the tank
because they knew it wasn't good. Every time they did that, carry the
stock park went all right. Oh, they got whoa back, so they
put it back in. All right, use every time they tried to take
it out. Of twenty sixteen, they tried to make it out boat didn't
work, stay back again, all right, But they knew they had to
normalize it. But this became impossible at two twenty when COVID did. COVID
froze economic not only frozen, it contracted all around the world. The average
contraction of global credit dett icime was forty seven percent. All right, that
man debts were not going to get paid. It was going to collapse.
So what they did was instead of the garden hose with water, they put
putting fire hose in. Fire hose. Yeah, fire hose, boom,
fire hose, all right, boom. Because COVID money just totally disappeared.
So to keep you stigulating that a fire hose in it. And what happened
was this, those at the front of the line that fit finance community,
they got really rich. I mean really the houses went up by an average
of forty seven percent. So if you owned the home, your house,
your stock portfolio, everything you had, you're so stinging rints man, you
never had it so good. Okay, but those but because you had acid
inflation, they had so much money important into it. This time it just
didn't cause acid inflation. It caused general inflation. The price rise of necessities
went up. So the front boys of the firm of the line were richer
than ever and the ones who were at the back of the line they could
no longer afford rent or grocery up. And that's where we are today,
all right, we're And when they couldn't afford rent or groceries, that meant
that the fan had slow the rate of the the hose. Okay, what
he what happened? Stocks went down Boa and the stock boys go, wow,
this is good for us, because if it goes down keeps going down,
it's gonna affect the general economy and they're gonna have to turn the fire
hose back on. So they front were on this and that's why stocks went
back up, not because things are better, because the boys in the casino
anticipate they're gonna they the window, you know, the teller window is gonna
have to liquefy the game again. All right, Well, what those boys
are they're really freaked out because now they're betwetter walk in a hard place.
So the hope for the boys who are playing the who are the tables?
They want they want the the the the fire hose to turn back on again.
The central backers want to withdraw liquidity safely. And my TikTok uh,
what is it? Conclusion is the one is gonna get what they want.
The boys are not going to be able. They're not gonna be able to
turn it on. And got to the moon and the and the and the
central bankers are not going to be able to withdraw the liquidity safely. We
are and we the fifteen years that they bought when they put the fire hose
in. It's over quantitative easy is like it is like steroids. They work
for a while. Hey and just like just like the fire hose. Well,
look what happens when you have a little glitch and some code and half
the world's computers stop functioning? Does that a them? Also? That's absolutely
right. What's happened is when it becomes so hyper, when it because things
become so big. What was inconsequential before can become consequential. And I think
that's what Nassine Taled talked about. That's why he called them black swans,
because what wasn't a problem five years ago when the system was operating at ten
percent is a problem when the system is at a one hundred and twenty percent
of capacity. Yes, you could have faced it at five percent, but
not when it's running over capacity. I think he called it frangility or something
like that. Yeah, fragilita, it's fragile. Yeahah, that's fragility.
Yeah, fragility. Yeah, yeah, Yeah, that's exactly what it is.
Complex systems get more and more compliments, more complaint and then they,
you know, they fail at some point. Right carry, we're walking on
water and we don't know it. But the only sense of knowing that we
have. Everybody in the pit of their stemmach knows they don't know what's going
on, and they know it's bigger than that, right. They don't want
to out, They don't want to know. Ignorance is truly bliss. Right.
Well, it seems to be the only option we've got these days to
say. So you're not medication, Hey, you know what will Rogers said,
ignorance got us into this mess, and ignorance will get us out.
Well, that's good. That guy was nasty. That was that was a
nasty thought. So, like, you know, like I realized, these
masters of the universe didn't know what the hell they were doing. No mortgage
crisis hit because they weren't making money really in any of their other businesses other
than some M and A. So they figured out they could take these mortgages
and break them up into tranches and all that and all they did was like
over leverage and yah. Having been in the credit space for my whole adult
life, it was like to me, an emperor has no closed moment that
these guys don't know anything because all they knew. All they did was leverage
up already leveraged products that were you know, inherently worthless, a lot of
them. But you know it's amazing, Daryl, is that when all was
said and done and the bailouts came and everything else, they reinflated the home
prices and again mortgage backed securities made fabulous profits. Yes, Kerry, the
very interesting thing is that they do know what they're doing. They don't know
how to care, how to make it safe. But they do know how
to make money. That's all they know, and they don't care the risk
is causing because the risk is really ultimately advertised by society. They always,
as governments, need the banks to borrow and live for another day. So
they got a catbird seat. So you know the thing about what you talked
about the Morgan's backed securities, how they went to how they invested in these
different tranches. The story behind how the NBS got to where it was was
was that Drexel Burnham had come up with a hybrid bond. Okay. Now
bonds are rated triple A, double a a you know into the jutt okay
and triple a's a savest. Well, what Drekschel came up with and they
passed on it was that at fifty percent of the bond over fifty percent is
triple A, the rescue be shit. So it's like going to your grossy
going to going to your really expensive restaurant and you're getting a hamburger of what
and it says, weggy, you'll be you know, and you love that
Japanese the way you right right, and you chop it into it. But
what they've done is because they needed to make more money. Is that they've
been You didn't know that the restaurant was allowed to put forty five percent Canter
grade in in that meat. Can you notice there was a little off right,
not? But the price was the same, you know. And that's
where the deal get inside job because the boys who controlled the game, their
purpose is to keep the game going, and they're flying by the seat of
their pants. Scary, that's it, you know, Oh, you got
it. You know, they're flying by the seat of the advans. Hey,
you know, I'm surprised there are as many states death whose rated triple
A are better. I guess you can't get much better as there are,
you know, like Florida, you would think, but Georgia and the Minnesota,
Iowa, well they're conservative Iowa and Indiana. It's just amazing. But
then like Kentucky is like in the toilet, you know, and Illinois is
the worst. Yeah, Illinois is the worst of the Yeah. You know
the reason. You know, there was a guy named Irving Weiss, and
you may have been familiar because he was writing a lot when we started our
deal. Okay, Irving, not not Irving, his father was Irving Weiss.
All right. I forget his name, but his in fact, his
father had made his fortune during the Great Depression, shortening the stock mark,
all right, and it was hard at them, okay. And and the
younger wise had come up with a company that rated banks and bonds, and
you know, they gave real ratings. And the truth is this, Carrie,
the ones who are doing the ratings, it's sort of like the accounting
firms. Yeah, they're they're what they're what they're allegedly supposed to do is
give us truth, all right, how okay, But what they're really supposed
to do is keep the game going. Yeah, if if the counting firms
were totally truthful, they wouldn't have gotten away with en Rod and this I
mean I you know right now in China, uh, Price Waterhouse Cooper,
Oh yeah, their ship. Why because the Chinese they're new to the game,
okay, and they sort of trust the system in ways they should so
when so, you know, they're making all this money on their on their
property bubble Okay. When a bove would be flated, it showed that Price
water House Cooper, who is the auditor of Banky, of all of Evergreene,
of all the Chinese. You know they're because why they're a big name.
You buy a big company, put in your brand up, your stick
on the door, PwC. You know, on it. You know.
So when they fail, what the investors did in China was about they blamed
it in Price Waterhouse. The truth is everybody in the business had to lie,
like Price Waterhouse. If you weren't willing to lie and validate it here,
lose the business. Yeah, Moody is all that. You can't do
it. We'll find somebody who said else. Yeah, oh Bill, okay,
fine, you're gonna play hard ball with this and say we don't pass
the stress test. Hey, alphone of Fred, he's you're bringing up.
And you kne who Fred was? He used to work for him, Yeah,
you know. And so the whole system, the whole system is exactly
what you said. It's it's out of control. It's too complex, and
it's and and and and the reason why it's going is that it's produced revenue.
Because it hadn't produced revenue, it would have fallen by the wayside,
to beget you don't think anyone then they wouldn't be have any So what's happened
is it's still going, but it's going on gas, it's going on on
fields Field, you know. So here we are mm hmm. Wow.
Yeah, it's quite a quite a mess you've gotten using into here, Darryl.
You know, I wrote my novel, but you sha't always get what
you went. I said, and I talked about looking at that. The
scene was pretty much this dark view, and my note was, I don't
know why I had to be the one looking out the window. Oh man,
what a mess. Many years ago, we used to go to parties
here and Martha would ten tell me before we went to the party, says,
don't say anything. These people want to have a good time. Doubt
doubts douncts. Yeah, yeah, she's not saying that now, though,
is she. No, Well, we don't go any parties anymore. But
because I plumbed everybody out, solved that problem, didn't you. That's right?
My in defense, I could say, well they were drinking more after
I left. Good for the liquor stores. All right, So we go.
We always go wind up at the same place we start, which is
gold and silver. Right, gold. I've always said that golden silk.
You know. The main play in Gold and Silver was too as an investment
to make money, but it really is far and more than that, especially
when you can rig the game. Is it's a life insurance policy. Okay,
it's it's a Gold and silver is a It is a life insurance policy
on the system itself, on the system of credit and debt. Light.
Gold and silver is a life insurance policy on the lifespan of fiat credit money.
That's exactly what it is. And the boy, there's so much money
in fiat money that they've been able to manipulate the price for as long as
we're here. But now you can see how the pressure is building because of
the last year it's gone up twenty percent. Well, the truth is it
would be far higher if they it was a free float, but they done
it. So gold and silver, that's it. Gold silver. Take your
breath, Sit back, and you know, I'm not saying to enjoy yourself,
because you can't enjoy yourself with these times too problematical. But at least
you will get through this and be able to grow, because somebody's going to
grow again. It's humanity. It's gonna come up. And generally it's always
been better as as doctor Hackett Fisher, David Hackett Fisher said, we go
through cycles of growth collapse, growth collapse, and every cycle we go higher
and higher and higher. So my feeling has always been a better world is
coming. The present world is collapsing. What used to work no longer does,
which is a side of the dives. Gold and silver is your is
your transit. It's going to get you through so you can be here and
start growing in the next cycle. Been to agree with you more and I
took your advice to heart thirteen fourteen years ago, and no regrets. And
the only regret is that I didn't buy more when I could have. But
hey, what can you do? Just it? It works? So all
right? Hey, Daryll always a pleasure. Make sure you check out Daryl's
site dr shoon dot com and check out TikTok. What's the tick yet?
I mean, is it very TikTok? Daryl Robert June author, But no,
I haven't posted an yet. I'm gonna start posting in the next two
weeks. I'm gonna subscribe and I'll comment. And hey, question for Daryl
or myself k l at carrie lets dot com. Send an email Daryll Always
a Pleasure. We'll talk to you again real soon, same here. Thanks
for listening to Carrie Let's this. Financial Survival Network your solution to today's trying
times. For the latest, go to Financial Survivalnetwork dot com. Financial Survival
Network now more than ever,