Germany has tipped into recession along with the rest of Europe, like you said,
and they just came out their finest minister came out and said, we
don't have any money left or the rest of the rest of the EU,
you know. And so Germany apparently is not going to backstop all these other
deck ridden countries in the Euro's hunt. Meanwhile, there's still shoveling money at
Ukraine. You know, They're up to well seventy seven billion dollars so far
and they're they're headed for another seven. They've got another seventy some billion in
the pipeline, so they're they're shoveling money out the door. You're listening to
Carrie Let's Financial Survival Network, where you get valuable information you just can't find
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You are listening to watching the Financial Survival Network. I'm your host,
Carrie Lutts. John Robino is with us now. You find his work at
robinot substact dot com go there subscribed today. Well, John, the madness
never stops, right, but on good news the Fed. The Fed half
paused, right, they paused with a big stick. I guess, hey,
Kary, Well it's not even clear what they did or why really,
because yes, they did not raise interest rates at the last meeting last week,
but they promised to keep raising interest rates at future meetings, so it's
not clear anything got resolved. And the financial markets kind of had a relief
rally in anticipation of the Fed pausing, as if that does anything. But
then on Friday last week everything turned around and went back down because I think
people got a chance to pink it through. And first of all, if
if interest rates are going to stay this high and there was, the Fed
stays paused, that is basically further tightening monetary system. Because every time any
any depth rolls over at the new higher interest rate, that tightens the monetary
conditions of whoever is doing the rolling over, So things keep getting tighter.
And then if the Fed comes back and does what it says it's going to
do and keeps raising interest rates, then you know monetary policy is overtly tighter
going forward. Which is bad for the financial markets. So stocks and bonds
might have finally concluded that we're nowhere near the end of this, and so
stocks kind of they were up most of the day on Friday, and then
they tanks, so there was a triple witching options day, so that could
have been part of it. But I kind of think that it was just
the buy on the rumors, sell on the fact or on the event kind
of thing where Okay, this thing happened that we were buying about, and
now we realize it's not that good, so we're going to sell. And
I think that's really the theme going forward, that financial assets are wildly overpriced
given today's interest rates. So unless we cut interest rates traumatically, stocks shouldn't
be this high. Bonds it's hard to know about bonds in this whole thing,
but stocks in real estate or get it, they're they're vastly overpriced and
they need to come back down. Yes, yep, yep, for sure.
And then look at what's happening in Europe, and besides the war,
looks like they're they're full they have a full blown recession going on. Yeah,
yeah, Europe is now in recession, but there's a you know,
a bigger thing at work here, which is that the only reason the Eurozone
as has hung together is because Germany, the European Central Bank, which Germany
controls, has been backstock stopping everybody else. So you know, if you
buy an Italian bond, you're really buying a German bond because Germany stands behind
the Italian bondm Well, first of all, Germany has tipped into recession along
with the rest of Europe, like you said, and they just came out
their finance minister came out and said, we don't have any money left or
the rest of the rest of the EU, you know. And and so
Germany apparently is not going to backstop all these other debt ridden countries in the
Euros hunt. Meanwhile, there's still shoveling money at Ukraine. You know,
they're up to well seventy seven billion dollars so far and they're they're headed for
another seven. They've got another seventies some billion in the pipeline. So they're
they're shoveling money out the door when they're desperately borrowing money just to cover day
to day expenses and their interest costs. Since the ECB Israel's interest rates sort
of the same way the Fed did. Everybody's interest costs in Europe are going
through the roof. Every time any debt gets rolled over, it's at that
new higher rate. So Italy is functionally bankrupt. So it's Greece and several
other European countries at these interest rates. So now we have this thing going
where if the ECB stays tight, which it apparently is going to do because
it just raised interest rates last week, even though the FED didn't raise interest
rates, that means that several countries and a whole bunch of companies and individuals
in Europe are going to teeter off the cliff and then go bankrupt and they're
going to have this amazing, huge financial crisis, or the ECB has to
reverse course in the hurry and start cutting interest rates, which will probably impact
the euro. You know, it'll tank the euro. So they're in that
box that we always said was coming, where standing pat is a disaster and
going back to easy money, which always worked in the past, is now
a designister. Oh and another thing that you sure is doing at the same
time is they're enacting their version of a new Green Deal where they're they're getting
rid of. For instance, Germany got rid of all of its nuclear plants
and tried to replace those with Russian natural gas, which didn't work out too
well for them, and now they're not sure what to do, but they're
going ahead with it anyhow, and the rest of the EU is on board
with this, so they're you know, they're they're buying up and closing down
farms all over the place because you know, farming is a polluting activity,
so it appears that you know, they're borrowing money to fund the Ukraine War.
They're seizing and closing down farms. They're mandating that all cars become electric
in the very new future, and they're doing it without any sense of where
all this money is supposed to come from, because they're out of money.
You know, they just create an internet amount of new euros and paper over
all of this stuff, so it you know, I did a piece on
Substack this week called easy Money Makes You Stupid, European Edition, and it's
about pins and that's basically what it is. If money is easy for too
long, you forget that money has to come from somewhere, you know,
you think it's just something that emerges out of thin air. Yeah yeah,
and the European leadership is in that boat. So major crisis coming. The
question is what's the best way to short European stocks right now? Well,
it's really interesting is that nat gas, which prices had really settled down they
were less than fifty percent what they were at the peak, over the past
few weeks have gone up like fifty plus percent, and no one can quite
figure out why, other than the fact that Netherlands shut down the largest producing
nat gas field in Europe for some reason that I haven't been able to ascertain.
Well, because it's a fossil fuel, so as they probably figured,
well, we're shutting down all our farmers, we might as well shut down
all our natural gas production too, um and so who knows. You know,
there there's really no rhyme or reason to what Europe is doing unless you
you go meta and conclude that there is a broader plan at work to destroy
the major world economies in order to create a pretext for the imposition of central
bank digital currencies and and mass surveillance and YadA yadah, you know the whole
um. Oh, what's the term Slashwab's term um any outsum you know what,
the Great Reset. Yeah, so that all pretext for the Great Reset.
And if you look at it that way, that it makes some sense.
But if you look at it as countries honestly trying to manage them selves
in ways that are sustainable going forward, now it makes no sense at all,
because they're doing the wrong thing in every case if they want to be
around as they're currently configured ten years from now. So one thing I'm adding
to this the China meltdown. So the problem is when you're watching youtubees,
you have no idea unless they tell you upfront, which I always do,
who paid for this, who's funding this? It looks like we've got the
emergence of like radio free Ukraine or Europe that has come up on YouTube's it's
kind of ultra nationalist, like America's winning against China. But on the other
hand, there is a lot of negative stuff happening in China that is more
or less undeniable, particularly their real estate issue, the unemployment, youth unemployment
at like twenty nine percent, and the demographic implosion. All these things are
true. Is it something they have a handle on? Are they in control?
I don't know the answer to that, but I do know that there's
an interesting situation that, you know, we need to play a closer attention
to. Yeah, you know, you can't manage your way out of a
financial bubble. You just you take it to a certain point and then it
bursts and you have to then manage the consequences of the bust. And so
China's pretty much right there. Their real estate bubble was it looks like it
was bigger than Japan's in the nineties and the US bubble in the two thousands,
and now yeah, yeah, and now which our bubble is is,
if anything, bigger right now than the bubble of the two thousands, But
it looks like China's is even bigger than that. Something like seventy four household
net worth in China has wrapped up in real estate because there was nowhere else
for Chinese people to put their money, which means it's not just a financial
crisis, it's a political crisis. If seventy four percent of the country is
impoverished by something that flowed from government policy, the Chinese leadership must be terrified
of the consequences of that. And plus, you know, if people weren't
already really mad about real estate. They have to be mad about lockdowns because
China. I mean, we were bad. We ruined half the small businesses
in the country and costs most of our kids one or two years of social
development in and you know, what we did was terrible, but China was
vastly worse. You know they we saw those videos people just locked in their
buildings going I'm hungry. Oh yeah, it's for the building was on fire,
and they still wouldn't let them out. China did that, and they're
people, you know, they don't have a free media there, but there
people still must in fragments none, I guess John, we don't have one
either. Yeah. Actually, you know what we do. It's just not
the mainstream media. You know. You and I can go online and find
Playing Greenwald today and Matt Taybe tomorrow, and then go see Joe Rogan interview
JFK j or RFK Junior. You know, all of that is available to
us because we know where to look. You're right though, that the average
person who still wakes up in the morning and turns on Morden Joe and then
watches Box or MSNBC at night, they don't have a free press. But
at least it's available here and you're not put in jail for doing it.
But in China it's a very dangerous thing to do to try to get true
information. So presumably a lot of their people don't know everything that's going on,
but you know, I think they know enough. It'd be really mad,
and the government knows that and should be terrified. They know more than
than we think, so you know it all it's funny how it's all connected,
you know, their meltdown, it's like, it's the entire world here
that we're talking about. It's not just Europe or the United States that's a
basket case. It's in Russia. It's the entire globe here, John,
you know, yeah, it's it's absolutely global because everybody has an unlimited currency
printing press. So you know, instead of country specific crises, we're gonna
have a global crisis here, and it doesn't matter where it starts. Any
major country blowing up like this Europe thing. You know, if the Eurozone
breaks up and billion dollars of Eurozone debt reverts back to Italy and Greece and
becomes you know, halfway worthless in the process, that would be enough blow
up the big banks who are you know, who are dependents on that debt
and pension funds and insurance companies, and then that would spread to the US,
and then it would spread to China. Um. And you know,
it's funny. They're only a handful of countries that aren't participating in this,
and Switzerland is kind of sort of one, and Russia is another one.
You know, they're they're not on a debt binge, and part of that
is because they have so much oil, you know, they can afford to
finance themselves without having to borrow so much. But but yeah, it's ironic
that Russia is actually getting it right financially and the supposedly free, supposedly wise
countries of the world are just blowing it on an epic biblical scale. And
it's all about to come home to ruse. So what about talking to real
estate and CRI and all that good stuff. Um, you know, when
you look at that in San Francisco, the biggest hotel reach just basically did
jingle male just sent the keys to the hotels, thousands of rooms to the
lenders. And you know that's just the tip of the iceberg here. Well,
San Francisco is sort of the poster child for incredibly bad management leading to
a commercial real estate bust. And then for them it's it's a done deal.
There's no out of it. There are all these buildings out there that
are only worth half of what they're carried on their lenders books ask so they're
going to be sold, or they're going to default and directed back to the
lender or something. Something will happen to reveal the true value. And then
the banks and the insurance companies and the pension funds who own the debt or
the buildings outright are going to have to report those losses. So it'll start
in San Francisco. You know, San Francisco might not even be an actual
city ten years from now. It's not clear what the solution is. You
would have to just you would have to elect people who are functionally Republican,
like a Rudy Giuliani kind of mayor there, which would never happen, but
you would. You would need somebody to go in and go, Okay,
you know, from now on, everything that's illegal is an actual crime.
We're gonna we're gonna lock you up for sleeping on the street and for shoplifting
and everything, and just clean house, and that's not going to happen because
there is never going to be a majority of San Franciscans who would vote for
that. But in the absence of that, San Francisco is just going down
the drain now. And you know, and I don't know what the solution
is, except that it's one of those laboratory of democracy things where we get
we all get to try different things, and we see how it works out,
and we see some models fail, and this is going to be a
model that is shown to fail, which I think will be really useful in
other mayorial races out there, because you're running for city government and you've got
San Francisco to run against. That makes a clean streets, law and order
platform a lot easier to sell. So, you know, when you talk
about cities imploding, you know, little violence across the country over the past
weekend shootings, mass shootings all over the place, mostly in these failing cities,
but elsewhere as well. You know, it looks like the country is
just coming undone. Yeah, yeah, and we absolutely are, which is
basically what happens when you screw up your financial system. You know, if
you borrow too much money, life gets hard or working class people. And
that's the majority of the people in the country who see the system is failing
them. And as Gerald Salente likes to say, when when people lose everything,
they lose it. Yeah, on last week, you know, he
must be having a lot of fun with all his prediction is turning out to
be true here. Well, he predicted World War three, which hopefully that
one doesn't work. I hope like that one to be wrong. On Bud,
he predicted to this like endless war for many, many years. He's
been talking about that, and it looks like we're in the thick endless war.
And you know that I find like completely distressing when you go back the
history of the United States, all two hundred and nearly fifty years we've been
at this, we only had like twelve or twenty two years of peace where
we weren't at war with somebody during that time. John, Yeah, Well,
and it's much worse now than it was back then. Ian It was
bad then, but now, I mean, we are basically run by an
aristocracy that profits from people being sick and from endless war. And you know,
they're running the government. It doesn't matter whether there's a Republican or Democrat
president, because the people who make policy behind the scenes are all making fortunes
off selling arms to every rushfire war and every proxy war out there, and
they seem even to think that it's worth rolling the dice on a nuclear war
because can you imagine the you know, we go to nuclear war, how
much it would cost to rebuild our military afterwards, and they wouldn't make all
that money about it. We need to worry about it? Then, Yeah,
this whole thing. It just and I think that the full Biden bribery
scandal is tied in with endless war. I find it hard to believe.
I mean, obviously we're speculating here that if Trump had been reelected that he
there would be a war in Ukraine. Now, I just don't think it
would have happened. Well, there wasn't when he was there. So that's
that's the data point we've got. We've got those four years with no new
wars, you know, and that's a that's a good thing to run on
if you're Donald Trump, because that's a real thing that actually happened that he
presided over. And so you can you know, we can say, yeah,
but given two more years and we're probably in World War three. I
mean, that's the that's why you run against that statement of his. But
you know, he's got the evidence. You've got conjecture if you're arguing with
that, and I you know, who would have thought that looking back on
the Trump years, they were the good old days when we felt safe in
the years and the Bush years with the wars and all that. Oh yeah,
yeah, it wasn't as bad as this. But you know, the
Trump indictment and then they just overlook the president's exact same misdeeds with handling classified
materials. Well, you know, Carrie in Poles, now fifty of the
usum populace sees this as a politically motivated indictment. In other words, the
Biden administration using the mechanisms of government against a political opponent. So that's that's
another useful data point. That means more than half the population ceased through this
in Latin way, Yeah, that's directly giving rise to RFK Junior. And
yeah, you know his popularity. He's viewed more favorably than either Trump or
Biden. Do santis, but he's more popular than them. Did you see
the Joe Rogan interviewers just now I've caught bits and pieces of him if you
have a chance. You know, bucks, they got up to a million
and a half bucks to get this hotel's gout the debate. Kennedy, Yeah,
I listened to that whole three and a half hour long thing with Joe
Rogan and that that's one of the best interviews I've ever heard. And you
know, you understand RFK Junior after that, because Joe Rogan just basically let
him talk, you know, so the guy got to lay out his life
story and the premises for his beliefs um uninterrupted. It was. It was
brilliant on both sides. Brilliant job by the interviewer and a brilliant job by
the subject. And uh yeah I would after hearing that interview, I could
comfortably vote for our FK Junior, even though you know, I think we
disagree on a lot of um a lot of a broad political um policy issues.
But you know, the guy is, first of all, incredibly articulate.
He's got facts and fingers and names and dates at his fingertips. He
is not a senile old man, and and he's something right, He's I
mean, he's not a young guy. He's definitely in the generation of the
senile old man that we're looking at otherwise, but he's not one of them.
And you know, his take on vaccines and on the the corruption within
the healthcare establishment, it all makes total sense. And I don't know if
it's actually true, because I don't have any way to verify what he's saying,
but it's coherent and it hangs together and it describes the world that we
live in pretty well right now. So yeah, you know, I think
maybe the best that we could hope for this time, because Trump is totally
going to get the Republican nomination if he's not in prison, and even if
he is in prison, I him there's a decent chance he just Okay,
he's in prison, he gets elected president, he pardons himself, and he's
in charge again. But but you know, if Trump were to say,
all right, elected me, and I will take RFK Junior, and I'll
turn him loose on the bureaucracy, and he'll reform the healthcare system, and
hell, we'll put him in charge of foreign policy too. You know,
we'll just let this guy go in there and clean house. That would be
an attractive ticket to me. You know, the name Ron de Santis you're
vice president and RFK you're fixer, and then just go for a And I've
not really heard either of them going after the other, you know, RFK,
and really haven't I suspect the you know, RFK talked about Trump in
that Rogan interview and he was respectful. You know, he didn't say he
liked Trump or anything, but he he said that he got why Trump was
popular because Trump is speaking the language of disenfranchised working people, and so he
gets it, you know, which, which that's half the battle right there.
If you understand why Trump is popular, um, you have a view
of the political landscape that most politicians don't have right there. Look, if
anyone has a right to be a conspiracy theorist, it's a Kennedy. Yeah,
yeah, really, it's a Kennedy. Matt. I gotta tell you,
like, people are onto this. I had a guy installing a sink,
African American guy, really beautiful guy, amazing guy, hard worker and
good person, and we're talking about it and basically we agreed, they're just
trying to divide us and make us hate each other because then we don't pay
attention to the real issue that's really what this whole thing is about. So
demonization and fear and manipulation, that's the language of the our elites. Our
governors are governing an unelected governing body. That's that's the language. That's how
they stay in power. So if you were to get a Trump and an
RFK together, you know, who knows? Huh, who knows? But
you know, Kennedy's don't have the longest or the greatest the life expectancy when
they enter politics. You know, Noah, he's he's been very brave by
running, well, running on the platform, but he's running on my god,
you know, And anybody who runs for president on a platform of getting
the corruption out of the healthcare establishment and shutting down the military empire, their
life expectancies in the weeks well, you know, he told the story RFK
did of his I guess his uncle John Kennedy, whom they had a lot
of advisors in Vietnam and some of them were getting killed, and that John
Kennedy didn't like seeing US soldiers be killed, and he said, pull him
out. He gave that order, the pull out of Vietnam. Three weeks
later he was dead. Yeah, and uh, and again I don't you
know, I don't know about the details of that timeline or anything, but
you know, it does make sense because Kennedy was definitely a skeptic of the
military industrial complex, and he despite everybody advising him to go to war a
couple of times, he decided not to do it. So it's easy for
to envision him butting heads with the CIA, and for the CIA deciding screw
it, we're just going to take him out. You know, that's that
hangs together very easily as a scenario that could have happened. So how that's
consistent what everybody involved. He had a bunch of enemies, the MOM,
the intelligence community, the oil industry because he wanted to get rid of the
depletion allowance, which basically enables most, if not all, oil companies to
virtually to further taxes indefinitely. As long as they keep producing more and more
oil, their depletion allowance goes up and up, and they as they pump,
they depreciate the wells, and basically, without getting into a full blown
explanation, this is how they pay limited taxes, certainly the smaller oil companies,
maybe not the large multinationals. And you know, he had a lot
of enemies, and you know, just like the movie Casino, you know,
with the Joe Pesci's character that there's a lot of holes in the desert
and a lot of problems been solved in those holes. Yeah, don't don't.
Don't forget l LBJ too, because apparently Kennedy was getting ready to drop
LBJ from the ticket for the next election, and LBJ was being investigated and
would have been indicted for corruption if he wasn't immune by being vice president.
So he had a really good m motive for killing j Okay follow the money
who became president? Yeah, yeah, he knew, like he always his
father died young, all of his male relatives died young. If you read
the Robert Cairo book Rise to Power, he always knew that he was going
to die young. And as a result the you know, this was his
only shot to become president. Yeah, maybe he took it. You know.
You know, just as a general rule, most vice presidents would kill
the president if they knew they could get away with it. We can't say
that, right, We're an arst assistant. And to that point, yeah,
they at Reagan, you know, one hundred seventy days into his term,
he was shot, and who was going to become president then? Either?
You know, the former head of the CIA was going to become president?
Right, Yeah, it wasn't Bush. Bush was the BP under Reagan,
wasn't Yeah, okay, and he was the former head of the CIA.
Something. Why would you name a CIA agent as your vice president and
give him an incentive to kill you if you're the president? You know,
it just doesn't seem like a It makes sense, but it didn't work,
man Like they failed. That's the thing. The hit on JFK, assuming
it was a hit, was really sloppy. There was two sentence, which
is why all these people are dead and why all all you know they had
to step in and do the cover up in the war and commission and all
of that. And who was a who ran the war and commissions? I
think it was Dollas John Foster Dallas, who JFK had fired as headed the
CIA. Um, you know, all these little pieces, but let's not
relive that. But yeah, this is going to be an election like no
other one here because RFK is going to be a player. And what will
it take for him to back down? What will they be able to do
or throw at him? You know, like you think you think they had
a dossier on Trump even though it was all fake. They got a dossier
on RFK. But he's smart, he's admitting all of his his sins upfront,
and well, you know, in today's world, um, it's not
clear what could be in his dossier that would get him disqualified, right,
because it's already been done. Like Huey Long, I think it was the
young ya you can't touch me unless you kept catching me with a dead girl
or a live boy. And you know it's possible even that wouldn't do it
these days, And we could get into maybe Huey Long was a political hit
from from FDR. He was a populist and he was threatening all of this,
and you know, there were a lot of people that weren't happy with
the New Deal and the socialist trend at the country was heading in. So
hue Long really kind of symbolized all that, and he was certainly no choir
boy Old Hue. I wonder if the aliens have been watching us long enough
to know the truth about all this stuff, and they could tell us what
really happened and every single one of these things that would be cool. I
guarantee it's all in Hillary's emails. Yeah, confidential documents. They're only important
depending who's holding onto them, right Yeah, Like, well, hey,
I guess that is it for this week. We covered a lot of territory
here. Make sure you go over to john site Rabino dot substack dot com.
Subscribe there, buck us out Financial Survival Network dot com. Get your
free newsletter, John. We will catch up with you in a couple of
weeks. See you carry. Thanks for listening to Carrie Lens's Financial Survival Network,
your solution to today's trying times. For the latest, go to Financial
Survival Network dot com. Financial Survival Network now more than ever,