The Bank of inter National Settlement send. By twenty twenty five, every single
country meets to have a set an operation ES Central Bank chitual currency. And
when I see the lights that they are going to meet their agenda and all
of these things, I get a nervous that you know, they will put
the squeeze on things like bitcoin and all cryptocurrencies. I don't think they want
to compete. I wonder if their eyes set on precious metals. I hope
not. You are listening to Carry Letts's Financial Survival Network where you get valuable
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I'm your host, Carry Lutts. Hey, we're getting down to the l
last week of August. Gold prices going up, silver prices going up.
I mean today alone, silver was up eighty nine cents nearly four percent,
gold up one percent, and we saw the little weakness in the metals prices,
but they're rebounding and no wonder when you look at the state of the
world, the impending implosion of the Chinese economy and potentially the collapse of the
CCP, the Chinese Communist Party. You look at the war in Ukraine,
quagmire seems like that's what the West specializes in, is quagmires, as they
used to call Vietnam, and every war since Vietnam has bennet quag meyer.
What's that going to do to the world economy? What's that going to do
to precious metal prices? Well, got a treat for you, Miles.
Franklin's CEO, Andrew Shekman is with us. Andy. Welcome back, Harry,
my favorite. Good to see your brother. Thanks for having me.
Hey, So I didn't have a chance to sit down with you at the
Rick Rules Symposium, which I felt badly about. But I couldn't go every
day. But I just can't do their shows every day anymore, especially when
it's in my backyard and I can pick and choose. But maybe it's better
because things have progressed further. Firsts, what's your take on what's happening now?
Well, you know, my take is twofold. You know, for
a long time. My take is focused almost entirely for almost for three and
a half four years, over twelve hundred YouTube videos on this formation of the
bricks, the alliance that is being built in the Bell Road Initiative, the
Shanghai Cooperation Organization, the Eurasian Economic Union, the Bricks New Development Bank,
of course, the bricks themselves, and there's growing alliance that centered around the
mismanagement of the world reserve currency, the weaponization of the dollar, and the
antagonization Saudi Arabia pushing them away, signing an executive order saying that by twenty
fifty will be eighty five percent green, by twenty thirty will be fifty hella
Saudi Arabian essence. Yeah, we're going in a different direction, and people
forget that. It is the protection of the Saudi teamdom and by extension,
their willingness through OPEC to denominate oil globally and dollars that has given us the
geminy that and the faith and credit of the US government. Let's examine that
for a moment before I do, I'd like people who understand that there are
two main economic advisors to the US government at this point, to the Biden
administration Number one is a man named Jared Bernstein, and Jared Bernstein's whole thesis
is to relinquish the world reserve currency. He's written with reports that have been
picked up in New York Times and The Washington Post, the most infamous being
Dethroned King Dollar, where he advocates immediately for the US government to abandon the
world reserve status because of the distortion and trade and balances it creates. In
fact, he says the exorbitant privilege of being the as a point, well
it's out. Here's the point. If you wanted to get rid of the
world reserve currency, the first thing you would do would be to weaponize the
dollar to kick Russia out of Swift, to confiscate their forex reserves. And
the second thing you would do is to push Saudi Arabia away. Telman,
We're going great. We don't need you anymore. And that has enabled Saudi
Arabia to join the Bell Road, along with every other old country to join
the Bricks. And we believe they will be formally announced today or tomorrow,
being that the Bricks meeting just started yesterday Tuesday, the twenty second today being
the twenty third They've also joined the new Development Bank the Shanghai co Operation Organization.
The shanghaik co Operation Organization is the largest regional military and financial group in
the World's Chinese Army. In essence, but you have a situation where we
have fostered this dedollarization we have. We couldn't have drawn up Jared Burnsteth's plan
and it better. But let's talk about the full faith and credit. The
US budget or balance sheet rather came out for twenty twenty two the other day.
You can google this and just ask Google what is the twenty twenty two
US balance sheet? What does it look like? And you'll find that they
admit to one hundred and fifty five trillion in debt and the largest being,
the largest indebtedness being unfunded liabilities Medicare, medicaid, a government military pensions,
and social security north of one hundred and thirty trillion. The key point here's
all of this is old to the American public. Even when you look at
the bonds, the bond situation right now, you have the majority of the
central banks of the world shedding treasuries. Yet the American public, in search
of yield, flooded into US treasuries, so you am the majority of all
of the debt owed really old to the American people, which fits very much
into what I'm going to get at here for a moment. The number two
economic advisor to the Biden administration is a lady named Leo Brainer, who is
a modern moneteer. She worked at the FED, she worked at the Treasury.
She ran coin for FED Now, which just came out of the payment
system like Zel, only administered by the Federal Reserve. And she's also a
modern monetary theorist who worked with them in developing the executive order driven central bank
digital currency. The Biden administration has put into motion, as demanded by the
Bank of International Settlements that everyone has to have one by twenty twenty five.
And when you look at the interest rates where they are on treasuries, when
you look at the ability for the commercial banks to invest their money market funds
into the overnight adverse repo market by the FED, you have a situation where
the regional banks putch are paying in essence one half of one percent in the
savings account or maybe four and a half percent in a one year CD.
They're dead in the water. They're going to be bailed in. You're seeing
all of these bank downgrades by Moody's, an S ANDP. You see that
und grade by Fitch. But the law that was put into place well and
during the Don Frank Act says that banks need to be bailed in, not
bailed out. And that's why there was such an uproar when Silicon Valid Bank
could Sinatal Bank were bailed out, even though they supposed Billy said it won't
be part of the tax fair burden. They were bailed out. They're going
to be bailed in. Well, that fits right into wailed Brainerd's thesis.
But let's talk about the full faith and credit, just to bring it all
home. Well, lump sets me more than anything. If we already talked
about the credit, one hundred and fifty five trillion in debt, five trillion
in assets, forty percent of our assets or student debt. We take that
out of the equation. We have three and a half trillion in assets batching
one hundred and fifty five trillion in debt. And remember how big a trillion
is. A trillion seconds ago was thirty one thousand, six hundred and eighty
eight years ago. But the game is all but over. We are a
Banana republic, were insolvent. Our debt to GDP ratio is one hundred and
thirty to one. That is a Banana republic. Only differences. We don't
jail our political opposition. Oh wait a minute, we don't. We should
probably think didn't worry though, right, And so we did, right.
And that is what is not being lost on our foes and our friends.
On top of a few other things, this country's obsession with cancil culture,
with censorship, with transgenderism, with a breakdown in law and order, and
the way that it is distributed in terms of justice equally or non equally in
this case, and the weaponizing of the Justice department in the FDI, to
me is by far the most alarming thing of all of these things. You
put it all together, we have a division and divisiveness. Red versus blue,
black versus white, rich, verse poor vacs no vacs. We are
not a unified country. We are broke, We are insolvent. The justice
department and the rule of law is all upside down. On top of weaponizing
the dollar, pushing away the lynchpin of the dollar, a gemany of that
being so to Arabia, incentivising them to go to grow or before become part
of a group that represents almost ninety percent in human population. I mean it's
as if they are trying to reset the system end up. The best way
to reset the system is to find a villain. When body said it was
Putin's inflation, I knew from right then and there they're looking for a villain
because Kerry, you understand Austrian economics. Every single time inflation is an increase
in the money supply. Look at the money that we created over the last
four years. That submission created all these distortions and asset prices. That's inflation,
right. And the fact that they plainted on Putin, well, what
better way to blow up the whole system because we're so indebted and have nothing
in the way of assets, offshort all of our production. Then to find
a villain. We incentivise Saudi Arabia to at some point remember all the OLDEC
countries around the Bell Road, to say, hey, listen, you guys
are going green, sign an executive order. We appreciate the fifty years worth
of protection, but we'll nind ourselves. So two of the three largest nuclear
arsenals in the world ninety percent of human population, and guess what, none
of them are going green. So we respect what you're doing. We're now
going to take oil and other currencies. Whatever that other settlement currency is.
If it's the brick settlement currency, if it's yuan, if it's rupy,
if it's ruble, if it's gold, I don't care as long as it's
not dollars, because when the dollar gets dumbed globally because no one needs to
hold it exclusively to buy oil, it's the great reset. As the dollar
hits our shores and collapses and interest creates spike, it's trouble. And you
know, if it were just that and not what's happening inside this country,
where there is no more unity or law and order is not what it used
to be, then I think it would be easier to swallow, because this
country does well when it's back against is against the wall. But now our
back is against the wall with both arms and both legs together. Was ziptized,
And I don't know how this all plays out, So I wish my
message was not one of of being such a buzz kill. But I find
what's happening in this country to be more disturbing to me than anything economically,
I see offshore, which is as gross as it gets in and of itself.
I couldn't agree with you more, Andy, I mean these problems basically,
the country's coming apart at the seams, you know, I mean we're
becoming a failed state, right, I mean absolutely. I mean, look,
you used to say the plan liberty and justice for all people walk thousand
miles through from Central America to get to the US, to find liberty,
to get a regime that treats them with respect and liberty and your injustice and
freedom. Well, I mean it used to say these things even exist anymore.
When you look at what's happening around us, it's really quite horrifying.
If you asked me, is if I design? That's the question? Is
it if Jared Bernstein's plan, in Lale Ladd's plan, get rid of the
banks, go modern monetary theory, lose the world reserve currency, blow up
the whole system, find a villain, I don't know, sure would make
a compelling story. It sure does. Man, if I was writing a
novel, I don't think it could be more exciting. Huh, Yeah,
I mean it certainly. It almost gives a novel, and I hope I'm
wrong. I got three kids, my youngest is sixteen. I truly,
honest to God, hope I'm wrong. But every day it's reinforced his idiocy
and lunacy that we see around us as being reinforced, and that to me
is the biggest problem. Everything else is a sideshow, the macro picture.
And then you take a look at the positioning of big investors out there.
Michael Burry just put ninety three percent of his edge pot over one point six
billion short. He got Warren Buffett, the legendary valued investor, right,
he's got one hundred and forty seven billion in short term treasury. He's not
in the market in short term treasuries because he's waited for an event a collapse,
to jump the bit and buy everything pages on the dollar, which reminds
me of one thing. You know. Thomas Jefferson had a very famous statement.
I'm going to read it because I'll butcher it, but his statement was,
and he said this three hundred years ago. He said that if we
allowed the Central Bank to the United States to ben fill the money supplied,
we would wind up renting back the land that our fathers conquered. Well,
look, first fight inflation. We've already seen that everything was inflated. Asset
prices went to the moon. We suppressed interests for it. Look at the
housing market. What's happened now and now comes deflation. As rates keep rising,
it's going to blow up the entire system. And is that what they
wanted? Because you look at the albasine market. We keep seeing rates rise
and it's going to blow up the banks. It'll blow up the housband market,
it'll blow up the bond market. And then you've got guys like Buffett
and Black Rocket would come in and buy everything at tennis on the dollar and
we rent from them. It's almost like Cloud Schwamp's statement of the old nothing
and you'll be happy, you'll rent. It's coming true, and you know
they are they following Thomas Jefferson's advice or the opposite of it rather, because
it really, it really has some some reading to it that it's it's setting.
So I wish I wasn't so pessimistic these days. Carryet number was,
but yeah, well it's hard to stay optimistic. So what do you make
of what's going on with cryptocurrencies and bitcoin in particular. We had talked a
while ago and you said you'd heard that they were going to crash it come
last November. I think it crashed in December or January, and you know
now it's trading below thirty thousand. What do you think is going on with
that? You know, I don't know how much power they really have to
ultimately derail it. I mean, they could pass each Look, there's no
question the Bank of inter National Settlement said by twenty twenty five every single country
needs to have a set an operation central bank digital currency. And when I
see the lengths that they are going to meet their agenda and all of these
things, I get nervous that, you know, they will put the squeeze
on things like bitcoin and all cryptocurrencies. I don't think they want to compete.
I wonder if their eyes set on precious metals. I hope not.
You know, the one thing that gives me a little bit of hope is
you have all of these states out there that have made gold and silver legal
tender Texas, Missouri, Idaho, Alaska, Wyoming, North Carolina, and
so Oklahola, Nevada. You know none. I am not a big cooin
hater, but I do think that it has caught the attention of the administration.
I wonder where all of these IRS officials or why they were all hired.
I think there is a lot of a lot of what's the word I'm
looking for. I think the administration and the powers that be don't love a
decentralized payment system. I think they wouldn't like to put the combostion on it.
And you know, look, I believe enough in the fact that they
are in some ways cut from the same cloth, at least in terms of
mentality, where I don't think there's a problem with owning some bitcoin. In
fact, I think it's probably a smart idea, but I wouldn't put all
of my eggs in that basket. I think, you know, dipping your
toe in the water and owning some a coup of coins, maybe one coin,
whatever is not a bad idea at thirty thousand dollars or whatnot. And
if it goes down lower by some more, how it plays out in the
end not sure. But I don't have faith in a lot of things right
now that are pushing back or standing up to this system. And I wonder
to what extent this administration will go to you know to put the kaimash on
that, and maybe the most frightening thing I've seen yet when you talk about
lengths that this administration is going, and I know it's coming from a source
that some people will say, well, you know, and consider the source.
But Alex Jones came out with something yesterday and it was terrifying, and
he basically said that a whistleblower from Homeland Security told him this isn't debatable,
it's already in stone pandemic yep, and that by October all airline passengers and
airline personnel in the airports will be mask mandated, and by December they're going
to lockdowns again in full COLVID protocol out of a new variant coming out of
Canada. He says, this isn't conjecture, this has already been told to
them, that it is happening if they do that, and they try to
do this mail in ballot bullshit, And just along the same lines of what
I'm talking about about the denigration of what this country stands for, I think
we're in a really world of hurt. And if I were going to make
one prediction to your listeners out there, it is that you will see more
bank failures. This is Moodies and SMP's way of saying, we told you
so, but this time they're going to be bailed in, not bailed out.
That Don frank Law said, they must be bailed in it and when
that happens, it's next time. I think all hell breaks loose in this
country. So these are not exciting times to me. What they are are
very interesting times. And I'm not optimistic about the way everything plays out over
the next fifteen months. But if they if they really try to lock us
down the way they're trying to lock up President Trump in what is a failed
a failed mentality, a failed rhetoric, I will have lost a lot of
hold in what the future brings for this country. I honest to God,
Carrie, I hint even saying this stuff not who I am inside. I'm
a happy guy. I'm a happy, go lucky guy. And yeah,
same here. They may beware right now, I do not. I hope
I'm wrong, but I don't like what I see all right? Man?
Well, hey, but in good news, you can finally order metal from
most states directly on the Miles Franklin website. Congratulations, Andy, it's a
long time coming. And we will be able to do all states very soon.
There are states that have tax laws like mahind state of Florida here where
on the website. We haven't opened up Florida yet because if your two thousand
dollars or under their state packs. When people pauus to buy in Florida,
we say, it's got to be over two thousand. But we will be
registered in all fifty states, in all the states that collect sales tax.
California's the same way. Anything over two thousand, no tax, anything under
tax. And so we can regulate that on the website without having tax software
from a company called Alvalara, which is very very complex. And so between
that and having a pop with all of our systems are CRM Management System,
all of our payment systems, it's all being integrated. We're we're almost fully
operational, but we've got it about seventy percent operational right now. So thanks,
I appreciate it all right, man, Well, hey, you know
the journey of a thousand miles begins with a single step, right, yeah,
it does. And look, Mike, I said, I mean,
I'm a patriot, I believe in this country. And hopefully we were able
to there's enough munity left in this country to stand up against what is coming.
But good blood, wake up and be aware that this is this time,
it's a little bit different, Andy, you know, It's like it's
like you're up there in that seven forty seven and it's gone into a dive.
And once a plane goes into a dive, that's the hardest, hardest
emergency maneuver to pull out of because you've got all these g forces fighting against
you, and you got physics, you got gravity and all of that.
Hey, it's definitely it's not impossible, but it can be highly unlikely,
and you've got a very limited amount of time in which to correct your course
before you augur in, as they call it. So, hey, man,
I'm with you. Hey, my kids are going to have to deal
with it. I'm at the point where, hey, you know, however
much I have left, I have left, it's not going to affect me
the way it's going to affect younger people like your kids, my kids.
But we've got to be aware of the realities and plan accordingly. You know,
you're not going to succeed by being an ostrich and digging your head into
the sand, for sure, So it's Miles Franklin dot com. Go there
see if your state too. If it's qualified to buy metal on the site,
tell them we sent you Andy will give you the best price available.
Yeah, if these orders are over ten thousand dollars, we don't do it.
Can over ten thousand on the site, you'll call Send us an email
at info of Miles Franklin, say the financist, Bible Network or carry sent
me. We'll send you a price list that is far more competitive than what
we see on the website. And so whether you can do it in your
state or you're thinking of a larger order, call us. We'll make sure
that your listeners are getting as good of a price as they'll find, and
personalized service, and we will definitely treat your people as family. So certainly
appreciate the affiliation over all these years carry means a lot to me. All
Right, Hey, if you got a question for Andy myself, shoot me
an email at kl at carry Lutz dot com. Make sure you can go
to the site. You'll get the link to Miles Franklin, and while you're
there, signed up for our free newsletter Financial Survival Network dot com. Hey,
Andy, always a pleasure, Thanks for stopping by London. Brother,
you stay well, talk to you soon. Thanks for listening to carry Lets's
Financial Survival Network, your solution to today's trying times. For the latest,
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