1 00:00:00,360 --> 00:00:06,280 You just take all these wars. I mean, does Ukraine really think that 2 00:00:06,360 --> 00:00:10,679 it can destroy all of Russia? I mean it's absurd. And the same 3 00:00:10,720 --> 00:00:13,519 thing. You look in the Middle East. Does Amas think that they're going 4 00:00:13,599 --> 00:00:16,719 to really wipe out Israel and the role the Jews are going to leave the 5 00:00:16,719 --> 00:00:20,559 Middle East? I mean, what's your end goal here? Yeah? There 6 00:00:20,679 --> 00:00:25,000 is. You know, you can't get to the piece because nobody will talk 7 00:00:25,039 --> 00:00:29,719 to each other. You're listening to Carrie Lutz's Financial Survival Network, where you 8 00:00:29,719 --> 00:00:35,119 get valuable information. You just can't find anywhere else to thrive in today's trying 9 00:00:35,159 --> 00:00:40,759 times. You need the Financial Survival Network now more than ever. Go to 10 00:00:40,840 --> 00:00:47,560 Financial Survivalnetwork dot com and get your free newsletter and gift. Financial Survival Network 11 00:00:48,039 --> 00:00:56,439 now more than ever. And welcome you are listening to and watching the Financial 12 00:00:56,479 --> 00:01:00,359 Survival Network on your ows. Terry Lutz, Well, we've got in our 13 00:01:00,479 --> 00:01:06,239 extremely popular series The World according to Martin Armstrong. Martin Armstrong is back for 14 00:01:06,480 --> 00:01:11,000 installment number five, and boy do we have a lot to talk about here, 15 00:01:11,040 --> 00:01:15,319 Marty. Oh, we do live in interesting times and that's a curse 16 00:01:15,920 --> 00:01:23,120 in the Chinese Confucian system, right, Yeah, so interesting times endless wars. 17 00:01:23,480 --> 00:01:29,680 It seems like the military industrial complex, the neo cons can just never 18 00:01:29,760 --> 00:01:34,200 have enough wars going on in the world at any given time. Well as 19 00:01:34,239 --> 00:01:42,799 you know, I know some of them, and my opinion is that communism 20 00:01:42,920 --> 00:01:49,519 just fell by itself because it was effectively inefficient, and they, you know, 21 00:01:49,680 --> 00:01:56,519 basically, I think, just regret that and continue. They don't want 22 00:01:56,560 --> 00:02:01,439 to admit that communism collapsed. I mean, billionaire Chinese and Russians, et 23 00:02:01,519 --> 00:02:06,840 cetera. I mean, you wouldn't have it under communists or regime. The 24 00:02:06,879 --> 00:02:12,719 government owns everything. And I think when this kind of all started when cruise 25 00:02:12,800 --> 00:02:16,159 chefs said we will bury you, and they, you know, all rallied 26 00:02:16,240 --> 00:02:21,199 up together, all right, Well, we'll put you know, democracy around 27 00:02:21,240 --> 00:02:25,759 the world. Of course, their version of democracy is really totalitarianism anyhow, 28 00:02:25,840 --> 00:02:30,599 But as Mark Twain said, if voting really mattered, they wouldn't let us 29 00:02:30,599 --> 00:02:38,599 do it, you know. So I think that you know that they are 30 00:02:38,639 --> 00:02:44,840 just constantly pushing for war because they never got to fight it, you know, 31 00:02:44,960 --> 00:02:49,520 to end democracy, I mean to end you know, the communist state. 32 00:02:49,879 --> 00:02:55,560 It just collapsed. And speaking of communism being inherently inefficient because from an 33 00:02:57,280 --> 00:03:02,599 economic standpoint, the price functions not allowed to function. The pricing mechanism isn't 34 00:03:02,639 --> 00:03:08,159 allowed to function. It's set by smart people who know better than the market, 35 00:03:08,560 --> 00:03:14,879 and that leads to the inefficiency malinvestment kind of kind of like what the 36 00:03:14,879 --> 00:03:21,120 Federal Reserve does with interest rates. Right, But China is encountering the very 37 00:03:21,199 --> 00:03:27,919 same thing now as the former Soviet Union, right. Yeah, you you 38 00:03:27,960 --> 00:03:34,520 know when China opened up, you know, I was invited there after ninety 39 00:03:34,560 --> 00:03:40,520 seven and I went, you know, for the nine in the Asian charity 40 00:03:40,639 --> 00:03:46,719 crisis. So I think I was the first Westerner they invited in, and 41 00:03:47,960 --> 00:03:55,840 I would ended up in this room actually answering questions about capitalism versus communists, 42 00:03:57,199 --> 00:04:00,520 like they were monitoring there were two and forty nine varieties of tea, and 43 00:04:00,520 --> 00:04:04,560 they were monitoring absolutely everything in the country, but they were not interfering. 44 00:04:06,000 --> 00:04:11,639 And I had to answer questions like, well, why is this tea selling 45 00:04:11,680 --> 00:04:14,919 for like a dollar here but five dollars over there? I said, well, 46 00:04:14,919 --> 00:04:16,040 where does it come from? Oh? Here? I said, well, 47 00:04:16,040 --> 00:04:20,920 first you have transportation costs. They go, oh yeah, okay, 48 00:04:21,240 --> 00:04:26,000 you got to get it there. You know, communism if it was a 49 00:04:26,079 --> 00:04:29,600 dollar in one place, it's a dollar everywhere, even if of course it's 50 00:04:29,680 --> 00:04:32,199 ten dollars to get it there. You know, that's why the whole thing 51 00:04:32,399 --> 00:04:39,879 just really collapsed. Plus, you know, you were not allowed to think 52 00:04:40,199 --> 00:04:46,519 or create something, so any innovation was largely in weapons or things of that 53 00:04:46,720 --> 00:04:51,079 nature. They never developed a consumer economy. You know. That's the famous 54 00:04:51,160 --> 00:04:59,279 nineteen fifty nine kitchen debate of Nixon and krush Chefs, showing all the innovations 55 00:04:59,319 --> 00:05:04,160 in the American kitchen that did not exist in Russia. But so I think, 56 00:05:04,439 --> 00:05:11,839 you know, that's these people were just against communism, but they ended 57 00:05:11,920 --> 00:05:16,279 up hating the very people that are there rather than what the system was. 58 00:05:17,160 --> 00:05:24,720 So I mean, even when when Reagan came to office, the neocons were 59 00:05:24,720 --> 00:05:28,720 against him for meeting with Gorbachev. You know, they actually came out and 60 00:05:28,720 --> 00:05:32,439 said, oh, you could never trust to Russian you know, and you 61 00:05:32,439 --> 00:05:39,399 know it with NATO invited Russia to join. That's why there was the coup 62 00:05:39,439 --> 00:05:44,040 against Gorbachov. And that's when Yeltsin is throwing the tank and the whole thing 63 00:05:44,360 --> 00:05:47,720 in ninety one collapse. But so, I don't know, I just see 64 00:05:47,839 --> 00:05:53,360 that these people are regret that they never got to fight, you know, 65 00:05:53,480 --> 00:05:59,240 the great fight with Communism, and so it's just endless wars forever. I 66 00:05:59,240 --> 00:06:03,399 guess they'd never sun su that every war is won or lost before the first 67 00:06:03,399 --> 00:06:08,519 shot is fired, exactly, and won the war. But it wasn't enough 68 00:06:08,560 --> 00:06:12,600 for them, No, it wasn't. And you know it's I mean, 69 00:06:12,759 --> 00:06:17,759 just you have to look at this stuff like giving long range messiles to Ukraine. 70 00:06:17,959 --> 00:06:21,800 That's not for the front line, that's to attack Russia. What could 71 00:06:21,839 --> 00:06:29,560 go wrong? They always wanted to escalate everything. You know. I have 72 00:06:29,600 --> 00:06:33,720 some friends in Israel and they're starting to wonder if Israel is just a vassal 73 00:06:33,839 --> 00:06:39,079 state, you know, of the US. And you know, because a 74 00:06:39,120 --> 00:06:44,480 lot of people don't believe that, you know this, this attack was totally 75 00:06:44,600 --> 00:06:48,920 surprised, you know, Harber wasn't either, right, No, absolutely not. 76 00:06:49,199 --> 00:06:55,639 I mean it even that all come out that the US had broken the 77 00:06:55,759 --> 00:07:00,439 code, they knew everything. And then there was a big set investigation on 78 00:07:00,519 --> 00:07:05,199 it, you know, because you know, alleging that FDR new and it 79 00:07:05,319 --> 00:07:09,959 concluded, well, we're not sure if he knew or not, and hey, 80 00:07:10,000 --> 00:07:15,279 well we just learned. Look, we learned things over time through improved 81 00:07:15,279 --> 00:07:19,639 technology. And through people fessing up when they no longer have anything to lose. 82 00:07:20,000 --> 00:07:26,959 We just found out that the magic bullet in JFK's assassination wasn't so magical 83 00:07:27,079 --> 00:07:33,079 after all. No I knew Orle inspector who came up with that little theory 84 00:07:33,240 --> 00:07:38,279 lived about three doors from me on the beach down in New Jersey, and 85 00:07:38,360 --> 00:07:42,240 when I asked him about that, he would just smiling up or not reply 86 00:07:42,920 --> 00:07:46,959 yeah, well you plead the fifths. Yeah, but yeah, Like that's 87 00:07:46,000 --> 00:07:50,800 the thing like news today. Like I think the news was always controlled, 88 00:07:51,240 --> 00:07:56,680 but now you can see it's controlled, and you can deconstruct, you can 89 00:07:56,759 --> 00:08:01,319 drill down. Like there's a service that I subscribed to looks pretty good called 90 00:08:01,800 --> 00:08:07,800 bround dot News, and they show every single publication that's carrying the story on 91 00:08:07,920 --> 00:08:13,160 the right, on the left, they even say who owns these publications? 92 00:08:13,839 --> 00:08:18,519 And you get a view of the news that you never really could get before. 93 00:08:18,680 --> 00:08:24,920 When Walter Cronkite got up there, his word was was literally the law. 94 00:08:24,639 --> 00:08:28,600 It was like God was speaking to you and nobody questioned it. And 95 00:08:28,680 --> 00:08:35,159 now I challenge you to find the news reporter that someone doesn't challenge or everyone 96 00:08:35,240 --> 00:08:39,519 doesn't question. Well, yeah. I mean, look, this is basically 97 00:08:39,759 --> 00:08:46,039 exactly how they brought about the communist revolution. You know, they just you 98 00:08:46,080 --> 00:08:50,679 know, they controlled the press, that was it. And look, thirty 99 00:08:50,759 --> 00:08:56,159 years ago, I would say they least pretended to be honest. Now they 100 00:08:56,159 --> 00:08:58,240 don't really care. It's in your face. It's like, yeah, so 101 00:08:58,360 --> 00:09:01,840 what what are you going to do about it? You know? Yeah? 102 00:09:01,879 --> 00:09:07,039 I mean even like going after Trump? What's happened since then? Argentine? 103 00:09:07,120 --> 00:09:11,879 Is it? Oh that's a good idea. So now they're criminally your opposition. 104 00:09:11,960 --> 00:09:15,639 Brazil is doing going after Bols. I mean, this is now going 105 00:09:15,679 --> 00:09:20,039 to start spreading. Doesn't putin do things like that? Has it? He 106 00:09:20,200 --> 00:09:24,600 like off the opposition or just tossed them in jail? I mean what other 107 00:09:24,679 --> 00:09:31,360 countries do that? You green? Yeah? Right, and uh, you 108 00:09:31,399 --> 00:09:39,639 know it's becoming an alarming worldwide trend of militarizing or weaponizing. Well you called 109 00:09:39,639 --> 00:09:43,200 it. I thought you summed it up well when you called it. The 110 00:09:43,240 --> 00:09:48,080 Department of just Us reminded me of George Carlin who said it's all a big 111 00:09:48,120 --> 00:09:52,039 club and you're not in it, and that's pretty much it. It's it's 112 00:09:52,600 --> 00:09:58,840 look, they they've always done this to some degree. I mean I had 113 00:10:00,080 --> 00:10:05,799 at an executive VP of I think he was with the New York Post and 114 00:10:05,840 --> 00:10:09,360 they put him in prison for eighteen months, and he explained to me how 115 00:10:09,399 --> 00:10:13,320 it actually works. He says, the government will call and say, we 116 00:10:13,440 --> 00:10:18,559 have a favor. We want you to kill the story or spin it this 117 00:10:18,679 --> 00:10:24,519 way or whatever. If you don't, they come after you personally, and 118 00:10:24,039 --> 00:10:30,039 they put him in jail. I think for eighteen months. Were the absurd 119 00:10:30,480 --> 00:10:35,440 hiring someone to work at the Post who didn't show up a no show job 120 00:10:37,759 --> 00:10:43,759 than that the government runs on no show jobs exactly. I mean, it's 121 00:10:43,879 --> 00:10:50,120 just absurd, absolutely absurd. I mean I've been to Brussels where you know, 122 00:10:50,200 --> 00:10:56,120 these guys get salaries, but then they actually get an extra couple hundred 123 00:10:56,240 --> 00:11:01,440 euro if they show up and you'd see them in the morning going over and 124 00:11:01,480 --> 00:11:05,480 they slide their card in and then they tear around a leave so they get 125 00:11:05,480 --> 00:11:07,840 the extra two hundred. I mean it was just like, you know, 126 00:11:09,000 --> 00:11:13,159 do you steal all the soap out of the bathroom there as well? You 127 00:11:13,200 --> 00:11:16,840 know, probably do. I wouldn't put it past them. Eight So, 128 00:11:18,600 --> 00:11:24,000 you know, fighting the cycle, like that's what central Bank's purpose is to 129 00:11:24,080 --> 00:11:28,759 fight the cycle that's been occurring for thousands of years. Right, we have 130 00:11:28,120 --> 00:11:37,480 first we have speculation, then it becomes excessive, a bubble occurs. But 131 00:11:37,039 --> 00:11:41,720 before you could print money, we only had one bubble at a time. 132 00:11:41,000 --> 00:11:46,039 We couldn't have multiple bubbles. It's futile to fight the cycle, isn't it. 133 00:11:46,519 --> 00:11:54,440 Most of the time these cycles are accelerated by government itself. They're always 134 00:11:54,600 --> 00:11:58,759 trying to eliminate the business cycle, which is what Coral Marks was all about. 135 00:12:00,440 --> 00:12:03,440 He didn't like the boom and bust, so he thought, if he 136 00:12:03,519 --> 00:12:07,480 took all the assets away from everybody, like Klaus Schwab, you'll own nothing 137 00:12:07,519 --> 00:12:13,720 but be happy that that would terminate the business cycle. And it did not, 138 00:12:15,360 --> 00:12:20,559 because the business cycle includes everything, war, climate, you name it. 139 00:12:20,600 --> 00:12:24,720 I mean, there's a book out eleven to seventy seven BC. I 140 00:12:24,720 --> 00:12:31,080 mean, when you know the climate turned bed up north, all these people 141 00:12:31,120 --> 00:12:35,639 invaded the south and wiped out most of the civilizations. I mean the Egyptians 142 00:12:35,720 --> 00:12:41,200 survived, but they wiped out most of the Bronze Aid civilizations. They called 143 00:12:41,200 --> 00:12:45,000 them to see people, they know where they came from, but they were 144 00:12:45,039 --> 00:12:48,039 all driven south because of climate. I mean the same thing has come out 145 00:12:48,120 --> 00:12:54,000 now about you know, why did you know Attila the hun invade Europe. 146 00:12:54,159 --> 00:12:56,639 There was a massive strout over there, so they moved. You know, 147 00:12:56,840 --> 00:13:03,120 most of these types of things or are caused by that. So climate's always 148 00:13:03,200 --> 00:13:07,919 been changing. It's you know, this propaganda, Oh, we we've created 149 00:13:09,000 --> 00:13:15,879 warming since the global you know, development of the industrial you know, revolution 150 00:13:16,200 --> 00:13:22,159 is absolutely absurd. I mean, it was far warmer back during the Roman 151 00:13:22,240 --> 00:13:26,039 period. Yeah, that's true. We had and we had the Middle Aged 152 00:13:26,840 --> 00:13:31,480 mini Ice Age and the Medieval warming period. Nobody can explain that. Yeah, 153 00:13:31,720 --> 00:13:39,600 they're just cycles that always take place. And you can read you know, 154 00:13:39,720 --> 00:13:43,200 basically John Adams complaining about how cold it was in the seventeen hundred. 155 00:13:43,240 --> 00:13:48,000 It's that the ground was frozen two feet deep and they couldn't even plan anything. 156 00:13:50,519 --> 00:13:54,279 So, uh, cycles. We got to see a crash in October 157 00:13:54,320 --> 00:13:58,720 here, what's what's the system saying? What's Socrates saying? Well, yes, 158 00:13:58,759 --> 00:14:05,200 we have changes here going into your ends, that's for sure. We're 159 00:14:05,240 --> 00:14:11,159 not looking at a massive crash in like the stock market like some of these 160 00:14:11,159 --> 00:14:16,840 people were talking about. For you know, like nineteen twenty nine. You 161 00:14:16,960 --> 00:14:24,240 have to really look at the fundamentals behind those charts and nineteen twenty nine. 162 00:14:24,679 --> 00:14:30,080 Basically, first of all, it was most of the money it was all 163 00:14:30,120 --> 00:14:35,000 over here because of World War One, right, and that had the Auto 164 00:14:35,120 --> 00:14:37,720 Revolution, so it was kind of like a dot com bubble, and all 165 00:14:37,840 --> 00:14:41,879 the foreign money was here to begin with, and so they were just blurging. 166 00:14:43,240 --> 00:14:46,679 Then when Europe got into trouble, they started pulling the money back out. 167 00:14:48,159 --> 00:14:52,440 That creates the crash here nineteen thirty one, all of Europe defaults. 168 00:14:54,320 --> 00:14:58,360 Britain went into a moratorium. Eventually came out, but you know, you 169 00:14:58,440 --> 00:15:01,840 can buy a lot of their bonds eBay, you know, and frame them 170 00:15:01,879 --> 00:15:03,200 up if you want. We used to have a whole bunch of them to 171 00:15:03,279 --> 00:15:09,799 remind us what happens to government debt. It always the faults. So you 172 00:15:09,840 --> 00:15:13,600 know, it was different back then. You know, the dour went up 173 00:15:13,679 --> 00:15:20,200 dramatically. That's why Roosevelt even confiscated gold because the dower had gone up so 174 00:15:20,440 --> 00:15:24,559 high, because nobody wanted the assets. They were just looking to park money, 175 00:15:24,879 --> 00:15:30,120 and so he confiscated the gold and then you know devalued. The dour 176 00:15:31,159 --> 00:15:35,399 took gold from twenty dollars in the sixty seven cents to thirty five, so 177 00:15:35,840 --> 00:15:39,960 you know that was a rise in the dour at that point. And then 178 00:15:39,960 --> 00:15:45,039 put all the Europe is the faulting. So we have to look at these 179 00:15:45,080 --> 00:15:50,799 things. This current situation is the opposite. You have to really say, 180 00:15:50,879 --> 00:15:54,679 okay, fine, you want to sell all your stocks and go buy you 181 00:15:54,720 --> 00:15:58,360 know Biden's latest issue of bonds when he just you know, sent another one 182 00:15:58,440 --> 00:16:04,559 hundred million dollars over to Ukraine, and and and now the fight Israel as 183 00:16:04,600 --> 00:16:15,879 well. Uh, I mean it, Our problem today is government that they're 184 00:16:15,919 --> 00:16:23,240 they're coming in with CBDCs because in their view, they would collect thirty five 185 00:16:23,279 --> 00:16:30,960 percent more in taxes if paper money was eliminated and everybody had to be on 186 00:16:30,960 --> 00:16:34,279 on the books. Uh, And they take to collect thirty five percent more 187 00:16:34,320 --> 00:16:40,200 in taxes. That's what they estimate the underground economy is. You know. 188 00:16:40,320 --> 00:16:44,639 So you know, when you hire that sixteen year old girl next door to 189 00:16:44,720 --> 00:16:48,159 watch the kids while you and your wife go out, where's her taxes? 190 00:16:48,679 --> 00:16:52,759 You know, Uh, it's just absurd. You know, you find one 191 00:16:52,840 --> 00:16:56,840 hundred dollars bill in a parking lot, where's there fifty percent? You know 192 00:16:56,960 --> 00:17:03,440 it's mutatum. So d dollars and the bricks currency. I mean, is 193 00:17:03,480 --> 00:17:07,319 this a question of the like Mark Twain said, rumors of my death are 194 00:17:07,359 --> 00:17:15,880 greatly exaggerated. Oh absolutely. I mean, look, the strengths behind the 195 00:17:15,039 --> 00:17:18,319 dour has nothing to do with gold, has nothing to do with the government. 196 00:17:19,359 --> 00:17:23,359 All these emerging markets when they borrow money, where do they have to 197 00:17:23,400 --> 00:17:29,839 go? New York City? New York is basically it's the financial capital of 198 00:17:29,880 --> 00:17:34,920 the world. London used to be. Well in Miami now the financial capital. 199 00:17:36,000 --> 00:17:38,119 Well, yes, they're they're moving in all to get to Miami, 200 00:17:38,240 --> 00:17:45,279 for sure. Yeah, but you know, the brigs are not in a 201 00:17:45,359 --> 00:17:51,200 position to replace the door. Is China going to fund all these and you 202 00:17:51,240 --> 00:17:56,440 know, and emerging markets and lend money and you know their backing system is 203 00:17:56,480 --> 00:18:02,279 not going to handle that. You know, there's nobody there to replace the 204 00:18:02,319 --> 00:18:06,720 financial markets of the United States, So the deepest in the world. And 205 00:18:06,839 --> 00:18:12,480 until you know, that's what the strength behind the dollar really is. And 206 00:18:14,039 --> 00:18:19,039 we have to understand that. It's you know, even when we get into 207 00:18:19,079 --> 00:18:26,319 this war stuff, they're fighting over borders and this is also antiquated and ridiculous. 208 00:18:26,839 --> 00:18:30,519 Yeah, this is the twenty first century and we're acting like it's medieval 209 00:18:30,640 --> 00:18:36,319 times here. Yeah, I mean that's why Adam Smith even wrote wealth of 210 00:18:36,359 --> 00:18:41,000 a Nation. Why because he was It was a retort against the French physiocrats. 211 00:18:41,960 --> 00:18:45,640 They said, the wealth of a nation is its agriculture, and therefore 212 00:18:45,680 --> 00:18:49,599 that started the empire building. The more land you have, the richer the 213 00:18:49,680 --> 00:18:53,480 nation is. And Smith said, no, wealth of the nation. If 214 00:18:53,480 --> 00:19:00,480 you made a a saddle in London and you sold it to somebody in France, 215 00:19:00,559 --> 00:19:04,119 you still game on with gold. So it wasn't just agriculture. But 216 00:19:04,200 --> 00:19:11,480 these people fight over borders that are absurd and they're arbitrary. Meaningless, the 217 00:19:11,519 --> 00:19:15,440 border that they're fighting over is arbitrary, and the one that they want is 218 00:19:15,559 --> 00:19:19,960 arbitrary. You know, you could go back to biblical times so well you 219 00:19:21,000 --> 00:19:25,480 know, hey, all this land was submerged at some point, so I 220 00:19:25,480 --> 00:19:29,960 who learned it? Then? Yeah, it's you just take all these wars. 221 00:19:30,839 --> 00:19:34,759 I mean, does Ukraine really think that it can destroy all of Russia? 222 00:19:36,039 --> 00:19:37,839 I mean it's absurd. And the same thing. You look in the 223 00:19:37,880 --> 00:19:41,599 Middle East, there's a mass think that they're going to really wipe out Israel 224 00:19:41,640 --> 00:19:45,279 and the role the Jews are going to leave the Middle East. I mean, 225 00:19:45,440 --> 00:19:48,279 what's your end goal here? Yeah, there isn't you know, you 226 00:19:48,359 --> 00:19:52,839 can't get to the peace because nobody will talk to each other. All right, 227 00:19:53,000 --> 00:20:00,079 So hey talking about about what's happening in the world here, the endless 228 00:20:00,119 --> 00:20:04,319 wars, the fighting, the cycle, all of this. So the dollar 229 00:20:04,799 --> 00:20:10,960 is here until something dramatically goes wrong and it doesn't exist and it can't be 230 00:20:11,079 --> 00:20:15,000 used anymore. But when we look at China, who seem to be the 231 00:20:15,079 --> 00:20:21,240 successor to the US, the place is imploding. Their real estate market, 232 00:20:21,799 --> 00:20:26,079 it's hit the skids. More distressing than their real estate market is the quality 233 00:20:26,559 --> 00:20:33,880 of the infrastructure that they have built since since the country opened up. You 234 00:20:33,920 --> 00:20:37,279 know, when you go on those highways, they're like they're a mess. 235 00:20:37,440 --> 00:20:41,480 I mean, we have defective infrastructure in the West and in the US plenty 236 00:20:41,519 --> 00:20:47,160 of it, but they have like zero standards or they adhere to zero standards. 237 00:20:47,519 --> 00:20:51,880 Just do a search for Tofu drag construction and you see that the country 238 00:20:51,920 --> 00:20:56,960 is literally falling apart. It it seems Martin. Yes, look, they 239 00:20:56,000 --> 00:21:00,799 have their problems, and it's a learning curve more or less. But what 240 00:21:00,920 --> 00:21:07,359 I would say in Chinese defense is they have looked at the economic model, 241 00:21:07,720 --> 00:21:14,359 and they've seen what made the United States great. It was a consumer market. 242 00:21:14,799 --> 00:21:18,880 They look at Germany. Fine, Germany's the largest economy in Europe, 243 00:21:19,039 --> 00:21:23,480 but the average German has less net worth than an Italian. Why because they're 244 00:21:23,519 --> 00:21:32,640 so afraid of inflation that they kept their taxes so high. And their model 245 00:21:32,759 --> 00:21:38,519 was mercantileism. We build something to sell to somebody else whereas the United States, 246 00:21:40,759 --> 00:21:45,119 it's a consumer based economy. So that's why everybody wanted to sell stuff 247 00:21:45,119 --> 00:21:52,799 here from Japan, toyotas and BMW's, etc. So China is moving in 248 00:21:52,880 --> 00:21:59,920 that direction. They understand the difference and they're trying to create a consumer based 249 00:22:00,079 --> 00:22:04,000 economy there. I mean it's going to take time, all right, not 250 00:22:04,160 --> 00:22:11,279 right now, but not happening. Yeah, but they least understand what Germany 251 00:22:11,319 --> 00:22:17,799 does not. Yeah, that's going to be I mean you're talking about fifteen 252 00:22:17,839 --> 00:22:22,480 to twenty years, but it will replace the United States in that sense. 253 00:22:22,880 --> 00:22:27,039 All right. What's your take on Elon Musk. We were talking about control 254 00:22:27,079 --> 00:22:32,480 of the media, and I don't know his agenda, but he certainly shined 255 00:22:32,519 --> 00:22:40,839 a bright spotlight on government manipulation of social media, of websites, of news 256 00:22:41,240 --> 00:22:45,119 to the point where cases going to the Supreme Court. I don't have any 257 00:22:45,160 --> 00:22:48,519 great confidence in the Supreme Court. Like I always said, if your last 258 00:22:48,559 --> 00:22:52,960 hope is that the Court's going to do the right thing, then you're out 259 00:22:52,960 --> 00:22:56,720 of hope. But we see it. It's coming up here. It's going 260 00:22:56,799 --> 00:23:02,240 to be they're going to be really hard pressed to uphold the government's right and 261 00:23:03,079 --> 00:23:08,119 these businesses right to control information at the behest of the business and at the 262 00:23:08,119 --> 00:23:12,599 behest of the government. What's your take on musk No, Look, I 263 00:23:12,599 --> 00:23:19,359 think he's he has actually served a very important purpose, kind of like get 264 00:23:19,519 --> 00:23:26,920 Edward Snowden in that way that you know, changing the our view of things. 265 00:23:26,680 --> 00:23:33,640 Uh, the government has gone far out of control with you know, 266 00:23:33,759 --> 00:23:41,880 controlling social media and all this stuff. It's largely because they know that this 267 00:23:41,079 --> 00:23:48,039 is imploding on them. They're they're they're getting desperate. As of January first, 268 00:23:48,119 --> 00:23:55,559 an American cannot go to Europe without being preapproved. And what they're going 269 00:23:55,640 --> 00:24:00,960 to do is put in looking at what's your politics. Oh, you protested 270 00:24:00,720 --> 00:24:06,039 against COVID, No, you can't come to Europe. You know, we're 271 00:24:06,039 --> 00:24:10,559 they're moving more and more towards this. You know, you know what they 272 00:24:10,559 --> 00:24:17,480 were calling social credit scores. And this is all what our computer has been 273 00:24:17,559 --> 00:24:23,359 forecasting that we're looking at the collapse of these republican forms of government by twenty 274 00:24:23,440 --> 00:24:30,079 you know, after twenty thirty two, they are just simply desperate at this 275 00:24:30,240 --> 00:24:36,920 stage. You know, it's I see it more or less like Joseph Stalin. 276 00:24:37,680 --> 00:24:41,759 You know, he became so paranoid and it wasn't good enough that he 277 00:24:41,839 --> 00:24:45,759 controlled everybody. He was like, what did you think? What are you 278 00:24:45,839 --> 00:24:51,799 thinking about? Are you a possible enemy? And a friend who grew up 279 00:24:51,799 --> 00:24:56,839 in East Germany and when the wall foul, his father when got a Stasi 280 00:24:56,839 --> 00:25:00,440 file and he so all his friends who are actually riding on them and get 281 00:25:00,519 --> 00:25:07,039 home and they started punching holes in the wall, pulling out microphones. And 282 00:25:07,240 --> 00:25:11,640 to this day and his father refuses to ever talk to anybody other than family. 283 00:25:11,359 --> 00:25:15,480 But I mean, that's what you're looking at. Why put microphones in 284 00:25:15,599 --> 00:25:19,599 people's houses? Oh what are you talking about? Are you a possible threat? 285 00:25:21,079 --> 00:25:22,799 This is where we're going. Well, they don't even have to put 286 00:25:22,839 --> 00:25:26,799 the microphone in anymore. They got this. Oh yeah, now that's very 287 00:25:26,799 --> 00:25:33,119 true. They can track you and then say you're they know everything at this 288 00:25:33,200 --> 00:25:37,559 stage in the game. So this is really very quite serious because you know, 289 00:25:37,640 --> 00:25:42,200 these people are Government is not there for you, they're there for them. 290 00:25:42,440 --> 00:25:51,279 Yep. We have to understand that the biggest problem with government is that 291 00:25:51,880 --> 00:25:56,599 the flaw that our founding fathers put in with the lack of term limits, 292 00:25:56,079 --> 00:26:00,640 because once they are there, they are on that side of the fence, 293 00:26:02,079 --> 00:26:06,599 and then they always look at us as the enemy as simple as that, 294 00:26:07,839 --> 00:26:11,599 you know, our digital ideas, and we got to try, where are 295 00:26:11,640 --> 00:26:15,799 they going or what are they going to do now? If they Yeah, 296 00:26:15,880 --> 00:26:19,400 the best form of government I ever saw in all the studies that I've done 297 00:26:19,680 --> 00:26:25,480 this was the city of Genoa. The head of state, like the president 298 00:26:25,480 --> 00:26:30,599 of the Doge, rotated on an annual basis among the rich families. And 299 00:26:30,960 --> 00:26:33,319 but he was only there for you know, being because he was there for 300 00:26:33,400 --> 00:26:38,000 one year and in that family wouldn't get control again for another twenty five years. 301 00:26:38,319 --> 00:26:42,240 Nobody would pass the law that was detrimental to the people you know on 302 00:26:42,279 --> 00:26:49,839 the street, and was more of a competitive thing of Genera against Florence and 303 00:26:52,680 --> 00:26:59,319 Venice, so everybody benefited. It wasn't this rich versus poor thing, which 304 00:26:59,599 --> 00:27:04,119 was also started by you know, by Mars. I mean, look, 305 00:27:04,359 --> 00:27:10,640 there are people that have different talents. Somebody can be a brain, another 306 00:27:10,680 --> 00:27:15,799 person be a quarterback. You know, what you earn is based upon how 307 00:27:15,839 --> 00:27:21,599 many people in that field are there, right, the value? So going 308 00:27:21,640 --> 00:27:26,680 back to Musk, So besides his influence on Twitter, which I mean, 309 00:27:26,720 --> 00:27:30,680 if he wanted to spend forty four billion to recavoc, I guess it was 310 00:27:30,759 --> 00:27:37,160 money well spent. But what about his other enterprises and the effect you see 311 00:27:37,519 --> 00:27:41,240 AI for instance, which I knew you've been involved in for decades, but 312 00:27:41,400 --> 00:27:47,839 now it's really hitting the mainstream. The electric vehicle, not so much EV's 313 00:27:47,920 --> 00:27:52,519 for EV's sake, but the marriage of the automobile and AI and all this 314 00:27:52,680 --> 00:28:02,519 technology. And then is SpaceX. Basically the guy owns space, he's controlling 315 00:28:02,599 --> 00:28:08,240 space. What what do you make of him? His influence on the economy, 316 00:28:08,359 --> 00:28:15,000 on society, you know, his significance historical when we look back, 317 00:28:15,440 --> 00:28:18,880 Oh, I think it's gonna be important. You know AI, he's been 318 00:28:19,200 --> 00:28:25,720 around. I mean, we were developing that in the early seventies. So 319 00:28:26,559 --> 00:28:33,720 people have to understand that there there's always been this theory that and it really 320 00:28:33,759 --> 00:28:37,720 comes from people that are, I would say, don't believe in God or 321 00:28:37,720 --> 00:28:44,240 something of that nature. They think that our brain is just a supercomputer and 322 00:28:44,920 --> 00:28:51,119 consciousness comes simply by dumping a lot of information into it. So this is 323 00:28:51,160 --> 00:28:55,519 the theory in computing that are you create a neural net to keep putting everything 324 00:28:55,519 --> 00:28:59,519 in it, and someday it just wakes up and says, oh, wow, 325 00:28:59,720 --> 00:29:04,319 look it's me, and I don't like you. You know, that's 326 00:29:04,519 --> 00:29:11,160 very nice. I've I've been don't look, I've even been a keynote speaker 327 00:29:11,160 --> 00:29:21,000 to American Hackers Convention. I don't see that it's ever possibly taking place. 328 00:29:21,759 --> 00:29:26,960 I don't see U a program evolving as to his self consciousness, et cetera. 329 00:29:27,519 --> 00:29:34,000 So I think that that is kind of absurd. AI can certainly outproduce 330 00:29:34,960 --> 00:29:40,880 a human being because it can look at everything. I mean, this chap 331 00:29:41,359 --> 00:29:45,039 you know, yeah, Prograham that they put out that that's not really a 332 00:29:45,319 --> 00:29:51,519 I oh you know you you ask your question and just goes out and search 333 00:29:51,599 --> 00:29:53,640 it. Oh, and comes back, Oh, what's lady got God's Dog's 334 00:29:53,680 --> 00:30:00,000 name? Oh it's you know whatever. It's not making a conscious decision, 335 00:30:00,079 --> 00:30:04,680 it right, and it is learning in a sense that the more people that 336 00:30:04,960 --> 00:30:10,160 they opened it up for free, because the more people that started asking questions, 337 00:30:10,200 --> 00:30:15,279 it was expanding its knowledge base. But it's not making a conscious decision. 338 00:30:15,599 --> 00:30:23,200 Gee, I don't like you because of the tower your hair. It 339 00:30:23,240 --> 00:30:29,240 doesn't do that and it can't reach that kind of level. But AI, 340 00:30:29,559 --> 00:30:33,640 as far as you know, replacing like a judge, I think yes, 341 00:30:33,640 --> 00:30:38,720 it could. Or about mortgage underwriters, yeah, I mean black and white, 342 00:30:38,920 --> 00:30:44,400 Okay, that's it. Did you whereas these people come in with these 343 00:30:44,519 --> 00:30:49,039 theories like Trump, Oh, well, the fourteenth Amendment says insurrection and nobody 344 00:30:49,079 --> 00:30:53,039 in an insurrection can be president. Well, that was written for the Civil 345 00:30:53,079 --> 00:30:59,519 War, and so then you change the definition of all these people going in 346 00:30:59,599 --> 00:31:04,160 to Capitol Hill taking selfies. They were never charged with insurrection, but they 347 00:31:04,200 --> 00:31:07,960 want to charge Trump with insurrection. You know, I mean, it's all 348 00:31:08,039 --> 00:31:14,680 political. It's how you manipulate all this stuff. Going after the head of 349 00:31:14,839 --> 00:31:19,400 Argentina. Oh, he manipulated the market because he told people not to say 350 00:31:19,480 --> 00:31:26,200 pesos. I mean, you know, so therefore he should be a criminal 351 00:31:26,279 --> 00:31:30,880 and charged with the but in prison. I mean, this is absurd. 352 00:31:32,680 --> 00:31:37,160 But this is the problem we have. AI. I think is important. 353 00:31:37,680 --> 00:31:45,839 You know, it will certainly help things going forward and by eliminating a lot 354 00:31:45,880 --> 00:31:51,839 of the nonsense back and forth. But it's not something that's going to suddenly 355 00:31:51,880 --> 00:31:55,160 wake up and say, gee, I'm going to destroy the world, you 356 00:31:55,200 --> 00:31:59,440 know, I'm gonna yeah, yeah, well, you know, it's a 357 00:32:00,119 --> 00:32:07,359 new technology. It's just like a lot of smashing the looms in England because 358 00:32:07,400 --> 00:32:10,279 they thought they would be out of a job, you know, and so 359 00:32:10,480 --> 00:32:15,759 fighting technology doesn't really work. It's here. Certainly there are jobs that are 360 00:32:15,759 --> 00:32:19,960 going to be eliminated by it though, right, oh yeah, of course. 361 00:32:20,160 --> 00:32:24,119 I mean look when trains came, they eliminated you know, the horse 362 00:32:24,119 --> 00:32:28,559 and buggies. You know, cars came. They that was the death knell 363 00:32:28,680 --> 00:32:34,240 to the horse and buggy. You know. It actually was the economist, 364 00:32:34,440 --> 00:32:38,920 the Austrian economist Shompitter, who called it these are waves of creative destruction, 365 00:32:39,960 --> 00:32:46,680 meaning that whatever the technology is previously is destroyed and is replaced by a new 366 00:32:46,720 --> 00:32:52,880 one. So cars replaced the horse and buggy. Okay, this is how 367 00:32:52,920 --> 00:32:58,559 it functioned. He calls it basically the waves of creative destruction, and I 368 00:32:58,599 --> 00:33:02,200 think that's a very good title for it. Just the cycle of life right, 369 00:33:02,839 --> 00:33:07,160 Yeah. I mean it's you go off and then okay, fine, 370 00:33:07,240 --> 00:33:15,720 you create something else. But the difference between AI and a human is AI 371 00:33:15,920 --> 00:33:21,119 doesn't really have an imagination, right. It's the person who says, gee, 372 00:33:21,160 --> 00:33:23,839 you know, if there's nobody here that bakes bread, maybe I should 373 00:33:23,920 --> 00:33:29,359 open up a store and and maybe make it and I can sell things. 374 00:33:29,559 --> 00:33:34,240 That's why communism failed. They eliminated that, so there was no advancement, 375 00:33:34,960 --> 00:33:39,359 and the advanced MANONI comes from from individuals. You know, he's doing a 376 00:33:39,400 --> 00:33:44,799 lot of my research at Princeton University. And I knew this professor that knew 377 00:33:45,119 --> 00:33:49,599 Einstein, and he shocked me one day. He says, you remind me 378 00:33:49,640 --> 00:33:53,559 of Einstein. I said, what said, I'm not brilliant or into physics 379 00:33:53,799 --> 00:33:58,160 and he said, no, no, no, he said the number one 380 00:33:58,200 --> 00:34:02,920 thing that Einstein said is curiosity. And if you're not curious, you don't 381 00:34:02,960 --> 00:34:07,360 discover anything. He says, you're curious about what makes the economy work. 382 00:34:07,599 --> 00:34:12,599 When he explained to me, it's it doesn't matter what the field is. 383 00:34:13,280 --> 00:34:16,440 If there has to be curiosity. If you're not curious, you're not going 384 00:34:16,480 --> 00:34:22,960 to discover anything. Right, That's what Einstein always said. It was his 385 00:34:22,119 --> 00:34:30,440 curiosity that led him down to discover things. Curiosity and desire, desire to 386 00:34:30,480 --> 00:34:35,840 improve your leg your family, whatever, those two things together are really unstoppable 387 00:34:35,880 --> 00:34:37,719 force. I think we're going to leave it at that. Today, Martin, 388 00:34:37,719 --> 00:34:42,320 we covered a lot of territory. Make sure you go over to Armstrong 389 00:34:42,480 --> 00:34:49,599 Economics dot com. Sign up for Martin's newsletter. It's must reading. You 390 00:34:49,639 --> 00:34:54,679 get it regularly. And hey, go over to Financial Survival Network dot com. 391 00:34:54,719 --> 00:35:00,360 And I might be splitting this interview up into two pieces. You'll be 392 00:35:00,360 --> 00:35:04,480 able to get the second half. And Martin really appreciate you coming on. 393 00:35:04,800 --> 00:35:06,920 We will talk to you again. If you've got a question from Martin, 394 00:35:07,119 --> 00:35:09,320 email Katy l at Carrie Lutz dot com. We'll get you an answer. 395 00:35:09,639 --> 00:35:13,320 Martin, we'll talk to you again real soon. Well, thank you for 396 00:35:13,400 --> 00:35:16,039 inviting me. Take care of yourself over there. Thanks for listening to Carrie 397 00:35:16,119 --> 00:35:22,440 Letz's Financial Survival Network. Your solution to today's trying times from the latest go 398 00:35:22,559 --> 00:35:30,039 to Financial Survivalnetwork dot com. Financial Survival Network need more than ever