1 00:00:00,080 --> 00:00:03,120 That's a very big deal actually, because it looked for a while like, 2 00:00:03,160 --> 00:00:06,040 Okay, the Fed is going to eat ease and interest rates are going to 3 00:00:06,120 --> 00:00:11,400 go back down, and pretty soon we'll be back in one of those cycles 4 00:00:11,439 --> 00:00:16,320 where there's very easy money and everybody can buy anything. And that kind of 5 00:00:16,320 --> 00:00:18,960 happened for a little while, and it still feels like it's happening in the 6 00:00:18,960 --> 00:00:22,760 stock market, but in general that's not the case in the US. You 7 00:00:22,800 --> 00:00:26,879 know, we're running big deficits and that's very stimulative. But if interest rates 8 00:00:26,879 --> 00:00:31,199 are going back up, you know, the ten year treasury yield went down 9 00:00:31,239 --> 00:00:36,159 to three point five percent from five percent. You're listening to Carrie Let's's Financial 10 00:00:36,240 --> 00:00:41,840 Survival Network, where you get valuable information you just can't find anywhere else to 11 00:00:42,000 --> 00:00:47,759 thrive in today's trying times. You need the Financial Survival Network now more than 12 00:00:47,759 --> 00:00:53,119 ever. Go to Financial Survivalnetwork dot com and get your free newsletter and gift. 13 00:00:53,679 --> 00:01:03,320 Financial Survival Network now more than ever, and welcome you are listening to 14 00:01:03,640 --> 00:01:07,120 watching the Financial Survival Network. I'm your host, Carrie Leutz. I am 15 00:01:07,159 --> 00:01:14,680 on the road in Thailand and John and I are roughly nine thousand miles or 16 00:01:14,760 --> 00:01:19,959 eight thousand miles apart here and we're still doing the show. The show must 17 00:01:19,000 --> 00:01:23,640 go on. John, Hey, Carrie, greetings from the first world. 18 00:01:26,519 --> 00:01:30,400 You know it's dinner time here, so that knows mean that it's breakfast time 19 00:01:30,439 --> 00:01:34,560 for you, right exactly. And I started eating breakfast again, a practice 20 00:01:34,719 --> 00:01:41,040 I've stayed away from for years now. But I'm eating breakfast, but I 21 00:01:41,319 --> 00:01:44,879 keep it down to two meals a day. I can't do three meals a 22 00:01:44,959 --> 00:01:48,560 day anymore. I just can't. It's something with age, man, I 23 00:01:48,560 --> 00:01:52,239 don't know. I just can't eat three meals a day. Well, but 24 00:01:52,319 --> 00:01:55,799 when you're in an exotic war in country, you got to eat the breakfasts 25 00:01:55,840 --> 00:01:57,959 and all their other meals too. You got to got a sample. It 26 00:01:57,040 --> 00:02:04,640 all so good. Now I'm picturing like for tie breakfast, I'm picturing like 27 00:02:04,760 --> 00:02:07,560 octopus and squid and stuff like that. Is it o what they eat for 28 00:02:07,639 --> 00:02:14,280 breakfast? They don't have like they do a Western breakfast. I'm staying at 29 00:02:14,319 --> 00:02:19,439 the Hilton here. They do a Western breakfast, but they do the Eastern 30 00:02:19,439 --> 00:02:24,960 breakfast, which is you eat the same food all day long. It's not 31 00:02:25,400 --> 00:02:31,800 breakfast per se. It's just the same food you're eating and that's always how 32 00:02:31,840 --> 00:02:36,000 it used to be. You ate for breakfast what was left over from dinner, 33 00:02:36,360 --> 00:02:39,719 right, So okay, that makes sense, made sense. Yeah so 34 00:02:40,639 --> 00:02:46,000 anyway, hey, well we should be celebrate breaking out the champagne Bitcoin his 35 00:02:46,599 --> 00:02:53,039 eclipsed the fifty thousand dollars mark Nick Santiago called it. I mean, we 36 00:02:53,080 --> 00:02:57,080 thought it was going to go a lot lower under twenty thousand. Maybe those 37 00:02:57,120 --> 00:03:01,400 are ETFs, They are ETPs, change traded products are starting to have an 38 00:03:01,400 --> 00:03:06,400 effect on the price job Yeah, yeah, I mean, you know, 39 00:03:06,479 --> 00:03:10,599 you kind of think that, except that a lot of those those ETPs, 40 00:03:13,319 --> 00:03:17,719 or all of them just are synthetic. They use futures contracts to replicate the 41 00:03:17,800 --> 00:03:22,800 movements of bitcoin, so it's not like they're you know, getting a bunch 42 00:03:22,800 --> 00:03:25,919 of bitcoin and storing it taking it off the market. But I don't really 43 00:03:27,000 --> 00:03:30,360 know the details of that. So it's possible to sublet the ETPs are actual, 44 00:03:30,719 --> 00:03:35,120 you know, analogs to physical ETPs, and that's leading to a lot 45 00:03:35,120 --> 00:03:38,520 of demand for bitcoin. So that's that's a possibility. Hey, we could 46 00:03:38,560 --> 00:03:46,240 say this that the ETPs for digital assets are the analog of g l D 47 00:03:46,439 --> 00:03:51,599 and SLV. They got all the stuff on their books, but do they 48 00:03:51,639 --> 00:03:55,080 really have it. I don't know. Supposedly, my best friend Jeff says 49 00:03:55,319 --> 00:04:02,240 that Fidelity has the coins, they actually possess them. But you know what, 50 00:04:02,360 --> 00:04:08,120 it's an ETP, which is a tracking product. It's not physical, 51 00:04:08,680 --> 00:04:12,400 physical bitcoin, which is in the novelly anyway. So it's going to be 52 00:04:12,439 --> 00:04:15,439 interesting to see what's happening. I told you, like, I buy a 53 00:04:15,480 --> 00:04:21,560 certain amount of bitcoin every Monday, and when I swing traded, when it 54 00:04:21,639 --> 00:04:27,439 hits peaks, I dump out of it. But here it went over fifty. 55 00:04:27,759 --> 00:04:31,079 That's probably enough momentum to take it close to sixty in my opinion, 56 00:04:31,560 --> 00:04:35,959 but we will find out soon enough. So, hey, interest rates are 57 00:04:36,040 --> 00:04:41,680 rising again. Yeah, that's that's a very big deal actually, because it 58 00:04:41,800 --> 00:04:44,399 looked for a while like, okay, the Fed is going to eat ease 59 00:04:44,639 --> 00:04:48,639 and interest rates are going to go back down, and pretty soon we'll be 60 00:04:48,680 --> 00:04:53,439 back in one of those cycles where there's very easy money and everybody can buy 61 00:04:53,439 --> 00:04:57,319 anything. And that kind of happened for a little while, and it still 62 00:04:57,360 --> 00:05:00,839 feels like it's happening in the stock market, but in general that's not the 63 00:05:00,879 --> 00:05:03,720 case in the US. You know, we're running big deficits and that's very 64 00:05:03,759 --> 00:05:06,839 stimulative. But if interest rates are going back up. You know, the 65 00:05:08,879 --> 00:05:13,800 ten year Treasury yield went down to three point five percent from five percent, 66 00:05:13,959 --> 00:05:16,319 and then it went back up just lately to like four point two percent, 67 00:05:17,040 --> 00:05:19,959 And you know, that doesn't sound like much of a move, but in 68 00:05:20,079 --> 00:05:24,079 for instance, the mortgage market, it's a very big deal because it puts 69 00:05:24,160 --> 00:05:28,120 us back above seven percent of mortgages. Now. My wife and I are 70 00:05:28,160 --> 00:05:31,839 thinking about buying houses for our two kids, so I'm really interest rate sensitive 71 00:05:31,920 --> 00:05:38,639 right now. And houses in the places where we're look at have not really 72 00:05:38,720 --> 00:05:42,120 come down in price. There aren't a lot of sales happening, but the 73 00:05:42,199 --> 00:05:47,600 prices are simple at they're completely unaffordable bubble levels. And now mortgage rates are 74 00:05:47,600 --> 00:05:53,439 going back up to seven percent and above, which means that, you know, 75 00:05:53,439 --> 00:05:58,120 if you couldn't afford a house three years ago, I'm at the price 76 00:05:58,120 --> 00:06:00,680 back when you could get a three percent mortgage, There isn't the chance in 77 00:06:00,720 --> 00:06:02,959 the world if you've been able to buy that house. You know, you 78 00:06:03,000 --> 00:06:06,800 know, if you buy a house now with a seven percent mortgage, your 79 00:06:06,839 --> 00:06:11,879 total interest cost equals the price of the house, So over thirty years, 80 00:06:12,199 --> 00:06:15,240 you would in effect, my two houses instead of one house. So that's 81 00:06:15,279 --> 00:06:19,560 not the kind of thing that is survivable for the housing market. You know, 82 00:06:19,560 --> 00:06:24,160 we have to have a housing and crash pretty soon. There's no way 83 00:06:24,199 --> 00:06:28,720 around it. And that's just one of the things that's coming now that the 84 00:06:28,759 --> 00:06:31,560 people have concluded that the FED isn't going to start cutting rates immediately, like 85 00:06:31,600 --> 00:06:35,879 we're not going to go back to t QBI on a massive scale and negative 86 00:06:35,920 --> 00:06:44,879 interest rates. The economy hasn't slowed down in a demonstrable way yet to justify 87 00:06:44,920 --> 00:06:47,720 the FED doing that. And if that's not happening, then what does that 88 00:06:47,800 --> 00:06:53,079 mean for these crazy tech stocks that are now you know, at and beyond 89 00:06:53,240 --> 00:06:57,879 nineteen ninety nine levels in Video? You know, I was going to shorten 90 00:06:57,959 --> 00:07:00,600 Video when it first spiked, and I couldn't figure out how to do it 91 00:07:00,639 --> 00:07:04,759 because the stock was on the list of hard to short, you know, 92 00:07:04,800 --> 00:07:09,399 hard to borrow a stock, so you can't just directly short. And then 93 00:07:09,519 --> 00:07:15,279 the the option premiums for put options work they were insanely high. So I 94 00:07:15,560 --> 00:07:19,279 didn't do it in Boyd and I'm glad I didn't because in Nvidia kept over 95 00:07:19,279 --> 00:07:23,360 and going out. I read a thing the other day it said that it 96 00:07:23,519 --> 00:07:30,800 added a new Tesla in market cap in the last few moments. So these 97 00:07:30,839 --> 00:07:32,639 are short candidates, you know, these are things that are going to fall 98 00:07:32,720 --> 00:07:41,399 by fifty percent and not even be fairly valued at the time. But where 99 00:07:41,439 --> 00:07:44,319 do you short? The man? The entry point for something like this is 100 00:07:44,439 --> 00:07:46,519 just incomprehensible, you know, It's very hard to call, and the danger 101 00:07:46,560 --> 00:07:50,439 of missing it, you know, and shorting it at the wrong time is 102 00:07:50,480 --> 00:07:56,079 outrageous. So I'm not sure how to play it yet. Remember the man 103 00:07:56,279 --> 00:08:01,680 said, the market can remain irrah at all longer than you can remain solvent, 104 00:08:01,959 --> 00:08:07,199 right, Yes, and it really I've found that out a couple of 105 00:08:07,199 --> 00:08:15,319 times, because when something really starts to run, it runs beyond rationality. 106 00:08:15,399 --> 00:08:18,720 It overshoots, and then it comes back and overshoots the other way. But 107 00:08:20,079 --> 00:08:24,439 calling the point where it's going to overshoot and head back your way is very 108 00:08:24,480 --> 00:08:26,879 hard. And I'm gonna short some more, but I'm not going to do 109 00:08:26,920 --> 00:08:30,480 it with like S and P five hundred. That's p y. Yeah, 110 00:08:31,920 --> 00:08:35,519 you know, put options on the on the hues, you know, the 111 00:08:35,519 --> 00:08:39,279 the NAZAC one hundred or the spy or something like that. You don't have 112 00:08:39,440 --> 00:08:43,440 ten bag or potential with things like that, but you do have five bag 113 00:08:43,480 --> 00:08:48,600 or potential, and I think yeah, And you know, for the liquidity, 114 00:08:48,639 --> 00:08:54,320 which means lower pood option premiums, and the fact that they're not as 115 00:08:54,480 --> 00:09:01,759 wildly overvalued as the worst stocks means that you know, you aren't looking at 116 00:09:01,919 --> 00:09:05,399 losing everything in three months or something like that. You have more time to 117 00:09:05,440 --> 00:09:09,000 be right. So I'm going to start doing that. So we'll see, 118 00:09:09,120 --> 00:09:11,919 you know, we'll talk as it goes along, but I am going to 119 00:09:13,399 --> 00:09:18,519 increase the level of my shorts going forward now because this is just a ridiculous 120 00:09:18,559 --> 00:09:24,240 market. Yeah, goldilocks, market price for perfection and all that good stuff. 121 00:09:24,399 --> 00:09:30,559 In the meantime, the cre meltdown continues and we find out, just 122 00:09:30,679 --> 00:09:37,960 like the subprime crisis with the mortgage backed securities, the European banks jumped in 123 00:09:37,039 --> 00:09:41,879 with both feet and are getting burned now. Well. The American banks, 124 00:09:43,080 --> 00:09:48,879 especially the smaller American banks, have a ton of real estate related debt on 125 00:09:48,960 --> 00:09:52,320 their books, and a lot of that is cre commercial real estate, and 126 00:09:52,360 --> 00:09:58,639 a lot of that is office buildings. And office buildings are at nightmare, 127 00:09:58,759 --> 00:10:03,720 you know. Any They for reasons that we've talked about before are just a 128 00:10:03,759 --> 00:10:09,279 mess because originally a lot of these buildings went up with very low interest rates, 129 00:10:09,759 --> 00:10:13,519 so it was shaped to build them. And then during the pandemic, 130 00:10:13,600 --> 00:10:16,519 people have found out that they really don't like working in an office. They'd 131 00:10:16,600 --> 00:10:20,039 rather stay home, and you know, missed the commute to not have to 132 00:10:20,080 --> 00:10:22,559 get dressed up and moving up. They gained three hours a day, So 133 00:10:22,720 --> 00:10:28,360 more and more people who have the ability to win that argument are allowed to 134 00:10:28,399 --> 00:10:35,480 stay home. Now that means office buildings have really low occupancy radios and they're 135 00:10:35,519 --> 00:10:39,279 not generated of cash flow, and so you're seeing a lot of people are 136 00:10:39,279 --> 00:10:45,519 tracking office buildings out there and finding examples of an office building that was one 137 00:10:45,600 --> 00:10:48,919 hundred and twenty million dollars three years ago. Now it's selling for forty two 138 00:10:48,919 --> 00:10:52,399 million dollars, you know, things like that. And those embedded losses are 139 00:10:52,480 --> 00:10:58,960 on bank balance sheets, so when those office buildings change hands, the bank 140 00:11:00,159 --> 00:11:03,720 have to report losses. And that's a very big deal, but now not 141 00:11:03,759 --> 00:11:05,840 anyhow, it's a big deal for US, but it's also turning out to 142 00:11:05,840 --> 00:11:11,240 be a big deal for Europe. A lot of European banks have US commercial 143 00:11:11,320 --> 00:11:15,639 room estate on their books. And so they're on the stuff too, and 144 00:11:15,679 --> 00:11:18,440 Europe is already a mess. You know, Germany. We can spend the 145 00:11:18,480 --> 00:11:22,879 whole show just talking about what a catastrophe the German economies, which is wild 146 00:11:22,919 --> 00:11:26,679 because five years ago you and I would have been saying the opposite, that 147 00:11:26,720 --> 00:11:31,759 Germany is basically well run country lefts in the world. Now they're the worst 148 00:11:31,879 --> 00:11:37,759 run country. They screwed up some monumentally. Uncle Merkel used to be this 149 00:11:37,840 --> 00:11:43,200 kind of rock solid conservative lady who didn't make stupid mistakes. Turned out to 150 00:11:43,200 --> 00:11:48,159 make stupid mistake after stupid mistake, and we'll go down in history as probably 151 00:11:48,240 --> 00:11:56,120 the worst Western leader in human history. So because everything she did was turned 152 00:11:56,120 --> 00:11:58,559 out to be wrong in retrospect, you know, they opened their borders, 153 00:11:58,559 --> 00:12:03,639 they let an insane number of immigrants from incompatible cultures come in, and then 154 00:12:03,679 --> 00:12:11,600 they shifted completely out of nuclear and into the wind and solar, which to 155 00:12:11,720 --> 00:12:16,399 work in Germany because Germany is neither sunny nor wind a and they loaded up 156 00:12:16,480 --> 00:12:20,240 or they committed themselves to Russian natural gas, and then they allowed the US 157 00:12:20,279 --> 00:12:26,000 to blow up the Russian Russian natural gas pipeline. So Germany is de industrializing, 158 00:12:26,559 --> 00:12:31,559 and you take them out of Europe. Europe is toasted and and that 159 00:12:31,080 --> 00:12:35,600 is the next couple of years for Europe. You know, they're they're going 160 00:12:35,679 --> 00:12:41,480 to level down to instead of their first word world system, to second world 161 00:12:41,559 --> 00:12:43,960 at best. You know, they're going to be much poorer than I think 162 00:12:43,960 --> 00:12:48,639 the I think you were correct on that score, John and the eight Uh. 163 00:12:50,879 --> 00:12:54,039 You know, one of the things that's keeping the US afloat is even 164 00:12:54,080 --> 00:12:58,759 though the rest of the world is doing so badly, they're doing worse than 165 00:12:58,840 --> 00:13:03,639 US. US and at the perception of the safe haven. Look, China's 166 00:13:03,720 --> 00:13:09,639 imploding. Where are those wealthy people putting their money. They're putting it into 167 00:13:09,679 --> 00:13:13,720 the US. I mean there's zillions of dollars. So the flow of funds 168 00:13:13,279 --> 00:13:20,039 from global hot money whatever, flag capital is all coming to the US into 169 00:13:20,039 --> 00:13:24,200 the stock market because they're not buying government debt with their flag capital, they're 170 00:13:24,200 --> 00:13:28,120 buying stocks. So I think a lot of that is why it's going up. 171 00:13:28,519 --> 00:13:35,559 And it's happening in Europe now as well. So hey, we got 172 00:13:35,320 --> 00:13:45,919 you know GNAT gas prices keep going down and then the ADMIN bans new LNG 173 00:13:46,159 --> 00:13:48,679 exports, Like what's going on here? We have more in that guess than 174 00:13:48,720 --> 00:13:52,279 we know what to do with in this country. What do they think? 175 00:13:54,360 --> 00:13:58,000 It looks like this was a plan on the bar, part of a Biden 176 00:13:58,039 --> 00:14:01,559 administration to make the economy look as good as possible going into the election. 177 00:14:01,639 --> 00:14:09,240 So what they did was they banned the export of liquid natural gas, and 178 00:14:09,840 --> 00:14:16,679 that left the US with a surplus of gas domestically. You know what an 179 00:14:16,679 --> 00:14:18,720 export it is, just slash it around here, you know. So the 180 00:14:18,720 --> 00:14:22,600 price is way down. So anybody who uses natural gas, for instance, 181 00:14:22,639 --> 00:14:26,399 to heat their house or to run their stove or whatever, and that's still 182 00:14:26,399 --> 00:14:30,759 a big part of the country, they're seeing the prices go down, the 183 00:14:30,840 --> 00:14:35,360 costs to heat their house and then their stove go down, which means their 184 00:14:35,399 --> 00:14:39,039 life is no longer as expensive and they don't blame the government for raging inflation 185 00:14:39,080 --> 00:14:43,639 anymore. That I think that's the Biden administration plan. That's what they're doing 186 00:14:43,320 --> 00:14:48,799 well. I think to the extent that you know, natural gas is an 187 00:14:48,840 --> 00:14:50,759 issue for people, this helps. So yeah, I think that's part of 188 00:14:50,799 --> 00:14:56,720 it. Because you know, let me melt, these guys are capable of 189 00:14:56,759 --> 00:15:01,440 anything. I'm talking about the powers that be right now. I think literally, 190 00:15:03,159 --> 00:15:09,919 if if it took a false flag attack on the jet way and that 191 00:15:09,159 --> 00:15:15,519 kills one hundred people to get the current administration elected again, they would do 192 00:15:15,559 --> 00:15:18,080 it. You know, That's just how the guys in charge and should operate. 193 00:15:18,960 --> 00:15:22,919 So I think anything we see out there out there that goes wrong in 194 00:15:22,960 --> 00:15:24,879 the next six months, and I'm not saying the Republicans are the good guys. 195 00:15:24,879 --> 00:15:30,600 I'm saying that anybody in charge in this way now, and it happens 196 00:15:30,639 --> 00:15:33,399 to be the Democrats and their allies who are in charge right now, and 197 00:15:33,600 --> 00:15:37,720 I think that any kind of false flag thinking that you can conceive of, 198 00:15:39,840 --> 00:15:43,320 they would be willing to do in order to win. So any worfic thing 199 00:15:43,360 --> 00:15:48,600 that happens in the next six months, your first impulse should be to blame 200 00:15:48,639 --> 00:15:54,039 it on the government, and only then if it becomes super clear that it 201 00:15:54,080 --> 00:15:56,720 couldn't positively have been the government. And he started looking for other examples. 202 00:15:56,759 --> 00:16:02,480 But but yeah, you know, I agree, Yeah, And that means 203 00:16:02,519 --> 00:16:07,600 the world is a very scary place because you've got people in power who are 204 00:16:07,600 --> 00:16:11,440 willing to do pretty much anything to hold onto power. And if it takes 205 00:16:11,519 --> 00:16:15,840 another pandemic, forget it. That's I mean, that's easy peasy for they 206 00:16:17,279 --> 00:16:19,159 did it once. I mean, they already did it. They know exactly 207 00:16:19,200 --> 00:16:26,120 how. So remember just lately they were talking about disease NX or something like 208 00:16:26,200 --> 00:16:30,679 that, the next pandemic, and you know, they tried monkey pops and 209 00:16:30,720 --> 00:16:33,080 that didn't work because it had a humorous name, so nobody could be afraid 210 00:16:33,080 --> 00:16:37,919 of it. But they'll come up with something else, or you know, 211 00:16:38,279 --> 00:16:47,440 or a a cyber attack or a library attack, or aliens are going to 212 00:16:47,480 --> 00:16:51,080 attack. Oh yeah, I mean that's see the aliens landing on the White 213 00:16:51,080 --> 00:16:56,320 House lawn is the that's the last on their list because that's the hardest to 214 00:16:56,320 --> 00:16:59,720 pull off. But you now they've got holograms or something like that. That's 215 00:17:00,519 --> 00:17:06,440 that that will make it possible. They've got some kind of advanced AI on 216 00:17:06,559 --> 00:17:10,799 the imagery that they'll use, and they will use it if nothing else works. 217 00:17:10,880 --> 00:17:14,440 So you know, twenty twenty four is going to be one for the 218 00:17:14,559 --> 00:17:18,960 history books from a theatrical standpoint, because everybody's willing to do whatever it is. 219 00:17:21,079 --> 00:17:22,920 We have the tech to do all kinds of things now, so I'm 220 00:17:23,240 --> 00:17:26,960 I don't even want to guess what they're going to pull, but just remember 221 00:17:26,880 --> 00:17:33,400 anything that happens is probably fake, and just respond to it by buying gold, 222 00:17:33,720 --> 00:17:37,519 okay, or silver. Just do that, hat, ye, and 223 00:17:37,720 --> 00:17:41,480 just let your stacks accumulate it, and then don't worry about trying to figure 224 00:17:41,480 --> 00:17:47,000 out exactly what their reasoning is or how they pulled it off or whatever, 225 00:17:47,279 --> 00:17:51,880 you know, they did it. That's enough, Michael, exactly eight. 226 00:17:52,839 --> 00:18:00,000 So, speaking of the admin, we have this special Council report on Biden's 227 00:18:00,119 --> 00:18:04,640 handling of classified documents, and I don't know, for some reason, everyone's 228 00:18:04,720 --> 00:18:11,440 surprised that basically the guy is non compass. Meant this now you'll remember you 229 00:18:11,519 --> 00:18:15,160 probably don't, but five years ago I wrote an article, well maybe four 230 00:18:15,240 --> 00:18:19,400 years ago, right before the election, called the Emperor has No Cortex, 231 00:18:21,240 --> 00:18:26,200 right, is like, why is anybody surprised over this? It's been obvious 232 00:18:26,240 --> 00:18:33,200 for years now this guy has lost it. And you know that that he's 233 00:18:33,200 --> 00:18:37,279 a puppet. There's no other explanation for what's happening. He's not running anything. 234 00:18:37,599 --> 00:18:44,720 Maybe Hunter Biden's running the administration for all we know. Okay, this 235 00:18:44,960 --> 00:18:48,519 was just too funny not to mention. You're right, because basically the story 236 00:18:48,599 --> 00:18:56,519 it is they were indicting Trump been trying to imprison him or things he did 237 00:18:56,599 --> 00:19:03,519 with classified documents after he was president. But then it turned out that Biden 238 00:19:03,599 --> 00:19:06,440 had done basically the same thing, and you know, he had a garage 239 00:19:06,599 --> 00:19:12,720 full of classified documents, and so they felt obligated that they were going to 240 00:19:12,799 --> 00:19:18,400 try to put Trump in prison, you know, the Biden DOJ felt obligated 241 00:19:18,160 --> 00:19:21,799 to well to look at him too, So they looked at him too. 242 00:19:21,839 --> 00:19:23,640 They interviewed him and everything, and they came back and said, well, 243 00:19:23,640 --> 00:19:29,920 we he clearly did a bunch of stuff that's absolutely illegal. He did it 244 00:19:30,000 --> 00:19:34,759 with an understanding of you know that it was illegal. But we can't indict 245 00:19:34,920 --> 00:19:40,319 him because in a trial, people would see, the jury would see that 246 00:19:40,400 --> 00:19:44,079 he was just an old man with memory problems and you know, he's with 247 00:19:44,240 --> 00:19:52,119 demensia. So they we couldn't convict him because you have to have intent to 248 00:19:52,200 --> 00:19:55,960 convict somebody of something like this, and it's clear that he doesn't have enough 249 00:19:56,000 --> 00:20:00,359 of a mind left to have that kind of intent. And so so he 250 00:20:00,440 --> 00:20:03,839 got off. And so the administration now is like, well, is this 251 00:20:03,880 --> 00:20:07,599 a good thing or a bad But he's not going to be indicted. But 252 00:20:07,640 --> 00:20:11,599 he's not going to be indicted because he's senile, and so to watch these 253 00:20:11,640 --> 00:20:18,319 guys scorm is just hilarious. Carrie, Let's do it. Let's let's do 254 00:20:18,759 --> 00:20:25,559 a pool now and guess which what day they will replace Biden with Michelle Obama. 255 00:20:26,920 --> 00:20:30,839 She's good, the one, you really think, So she's the one 256 00:20:30,839 --> 00:20:34,240 they want, but she doesn't want to do it. Gavin Newsome desperately wants 257 00:20:34,240 --> 00:20:41,599 it. But they can't replace Biden and Harris with a white guy, right 258 00:20:41,640 --> 00:20:44,759 because if they if they just got rid of Biden, Kamala Harris would win, 259 00:20:45,359 --> 00:20:48,039 and then we would we would have a black woman president. And the 260 00:20:48,119 --> 00:20:52,720 Democrats cannot get rid of the black woman and replace her with a white guy. 261 00:20:52,759 --> 00:20:56,519 They can't do that. There's no way they can do that. So 262 00:20:56,680 --> 00:21:00,519 Michelle Obama is the logical choice, because you just swap one black women for 263 00:21:00,559 --> 00:21:06,960 another black woman and you've got your diversity there. But Michelle Obama will be 264 00:21:07,759 --> 00:21:11,200 He's been exposed to what it's like to be in that feature part of it. 265 00:21:12,920 --> 00:21:15,160 So I don't know what they're going to do, but they need they 266 00:21:15,200 --> 00:21:18,799 know they needed something. I think they don't know what they're going to do 267 00:21:18,920 --> 00:21:21,480 either, but you know it could be some kind of a Hail Mary, 268 00:21:21,480 --> 00:21:25,359 where they just grab somebody out of you know, out of the left field 269 00:21:26,039 --> 00:21:30,680 and slot them in there as long as they tick en up boxes on the 270 00:21:30,720 --> 00:21:33,079 assumption that Trump is easy to beat, and we'll see, I don't know, 271 00:21:33,119 --> 00:21:37,240 this is the most hilarious election ever, as long as we don't end 272 00:21:37,319 --> 00:21:41,440 up in, you know, a civil war, which we're reasonably close to 273 00:21:41,640 --> 00:21:45,160 right now. So you know, so barring the civil war, this is 274 00:21:45,240 --> 00:21:51,200 hilarious. Okay. So I'm thinking, when you're talking about checking boxes, 275 00:21:51,799 --> 00:21:59,200 the former president of the Harvard University is available, and she could be perfect 276 00:21:59,240 --> 00:22:03,680 because she checks like so many boxes. She checks boxes they didn't even know 277 00:22:03,759 --> 00:22:08,400 they had until, you know, if she hadn't already had her downfall, 278 00:22:10,079 --> 00:22:14,000 she would be on the short list. If right this minute, you know, 279 00:22:14,079 --> 00:22:17,519 maybe thinking wow, man, Harvard, okay, Harvard, and then 280 00:22:17,519 --> 00:22:21,880 look at all these other boxes that she ticks. Let's just slot her right 281 00:22:21,920 --> 00:22:23,400 in there, you know, and then we'll just tell her when to invade 282 00:22:23,440 --> 00:22:27,440 whoever and when depress the new box. That's that'll be fine. You know, 283 00:22:29,039 --> 00:22:33,720 Oh Carrie, you know that we can joke about this and is a 284 00:22:33,759 --> 00:22:37,160 sign of how crazy the world is right now, because we shouldn't you shouldn't 285 00:22:37,160 --> 00:22:41,240 be able to joke about this stuff because it's bad from and then the Texas 286 00:22:41,279 --> 00:22:45,240 thing. You know, oh, you've probably you've probably covered this already, 287 00:22:45,279 --> 00:22:52,599 so your audience is probably very well our incipient civil war. But let me 288 00:22:52,640 --> 00:22:55,960 know if there's anything else that needs to be filled in about that. So 289 00:22:56,359 --> 00:22:59,200 yeah, well we I don't know that I've talked about it on the show. 290 00:22:59,279 --> 00:23:03,119 So basically, the Supreme Court said that the FEDS could go in and 291 00:23:03,160 --> 00:23:08,079 cut the razor wire that Texas has erected on the border. The governor of 292 00:23:08,079 --> 00:23:15,279 Texas declared an invasion and sent troops down there, and they in light of 293 00:23:15,319 --> 00:23:21,119 the Supreme Court's decision, it just added more razor wire because the decision didn't 294 00:23:21,160 --> 00:23:23,680 say they couldn't add more. It just said that the FEDS had the right 295 00:23:23,759 --> 00:23:27,799 to remove it, but the border patrol won't go in there to remove it. 296 00:23:29,480 --> 00:23:33,920 And now a bunch of states, I think thirteen states have pledged National 297 00:23:34,000 --> 00:23:44,319 Guard troops to Texas. The ADMIN hardcore people are saying, let's nationalize the 298 00:23:44,359 --> 00:23:48,440 federalize the National Guard, which generally in the past and I don't know if 299 00:23:48,480 --> 00:23:56,640 it's changed, required the consent of the governors in question to federalize the guard, 300 00:23:56,720 --> 00:24:02,400 because when we go back to Hurricane Katrina, the Bush administration through FEMA 301 00:24:02,519 --> 00:24:08,640 tried to federalize the Louisiana National Guard. The then governor Catherine Blanco, I 302 00:24:08,640 --> 00:24:17,000 always called her Catherine Kathleen draws A Blanco. She refused to sign the federalization 303 00:24:17,200 --> 00:24:19,680 order and they said okay, and they left, and then we had Hurricane 304 00:24:19,759 --> 00:24:23,440 Katrina, and Bush got blamed for it anyway. So I don't know if 305 00:24:23,440 --> 00:24:30,039 the law has changed since then, but under the existing law, federalization was 306 00:24:30,160 --> 00:24:37,720 required with the consent. And even Trump tried to send the Guard to d 307 00:24:37,960 --> 00:24:45,160 C for January sixth, and he asked the then mayor do you want the 308 00:24:45,240 --> 00:24:48,160 guard? And she said no, and that was it, and then we 309 00:24:48,240 --> 00:24:55,519 had January sixth. So it's an interesting legal issue. I don't think they 310 00:24:55,559 --> 00:25:00,440 can federalize them under the constitution, and then that would just precipit take the 311 00:25:00,599 --> 00:25:07,079 ultimate clash between the states, and we got twenty six states and then the 312 00:25:07,119 --> 00:25:10,880 other states. Most of the people don't want what's happening now on the border 313 00:25:10,880 --> 00:25:15,400 to be happening anyway. This is a policy driven by elites, by NGUS 314 00:25:17,079 --> 00:25:22,200 and by big companies looking for cheaper labor here. John Well, Okay, 315 00:25:22,240 --> 00:25:27,880 let me say two things about this. One is that these NGOs that are 316 00:25:27,920 --> 00:25:33,960 down in Mexico and helping people come into the US illegally should be rounded up 317 00:25:33,000 --> 00:25:37,599 and imprisoned in a heartbeat. Okay, they're breaking the law. They have 318 00:25:37,640 --> 00:25:42,039 no business doing that. Lock them up and do it publicly because you get 319 00:25:42,039 --> 00:25:47,559 a seventy to thirty advantage electorally out of doing that. Now, the other 320 00:25:47,599 --> 00:25:49,599 part about it is, I think, you know, the Republicans, they've 321 00:25:49,640 --> 00:25:56,519 been frustrated over this open border that Biden has imposed for a long time. 322 00:25:56,000 --> 00:26:03,599 But I think the timing of this now is is pretty specific. Texas started 323 00:26:03,640 --> 00:26:08,519 doing this right now so that the issue leads over into the election campaign, 324 00:26:08,920 --> 00:26:15,160 and their google is to make Biden go down there and impose the federal government's 325 00:26:15,200 --> 00:26:19,079 will on Texas and then explain it. That's the whole key to everything. 326 00:26:19,119 --> 00:26:23,640 They want Biden to happen, stand in front of the camera and explain what 327 00:26:23,720 --> 00:26:26,480 he's doing. And they know he can't do it. I mean that that 328 00:26:26,640 --> 00:26:32,599 is too many complex thoughts strung together at once for him to be able to 329 00:26:32,759 --> 00:26:37,119 actually articulate it, and then if he can't do it, then the people 330 00:26:37,160 --> 00:26:40,640 who are actually responsible for it and the federal got burn, will have to 331 00:26:40,680 --> 00:26:42,359 step up and explain it, and they'll see the deep state, you know, 332 00:26:42,519 --> 00:26:48,519 exposed in all the Yeah, I at about money. Yeah, it's 333 00:26:48,519 --> 00:26:52,160 all about winning the next election. Yeah, but the open border thing, 334 00:26:52,240 --> 00:26:56,799 yes, is partially about money for sure. Yeah. Well it's going to 335 00:26:56,799 --> 00:27:03,359 be interesting and that Trump is running on a policy of basically rounding up millions 336 00:27:03,400 --> 00:27:07,279 of illegals and showing them the door. But the people that sent them to 337 00:27:07,359 --> 00:27:11,640 us don't want them back, So where do they go? We put them? 338 00:27:11,640 --> 00:27:15,519 Well, Gitmo right? I mean no, From from Trump's point of 339 00:27:15,599 --> 00:27:19,559 view, the most electorally and you know, the most popular thing he could 340 00:27:19,640 --> 00:27:26,400 do is shut down to the border completely and then spend the next three years 341 00:27:26,519 --> 00:27:30,559 rounding up all the people who came in here illegally. It just take them 342 00:27:30,599 --> 00:27:33,440 across the border in Mexico and drop them off you know, Mexico sceand to 343 00:27:33,559 --> 00:27:34,759 let them in in the first place. I mean that literally, I'm not 344 00:27:34,920 --> 00:27:38,079 joking. I think that's what they should do. Just drop them off on 345 00:27:38,160 --> 00:27:44,400 the other side of the Texas border, and then you know, to the 346 00:27:44,440 --> 00:27:48,960 extent that any of them need to be processed. They go through the official 347 00:27:49,079 --> 00:27:56,680 channel, they submit their application from Mexico, and then they go through the 348 00:27:56,759 --> 00:28:00,400 steps that anybody else all I pay parents did, all the all the people 349 00:28:00,440 --> 00:28:08,000 who are doing it legally do to to become American citizens. And there should 350 00:28:08,000 --> 00:28:11,519 be no other alternative. You shouldn't just be able to walk across the border 351 00:28:11,559 --> 00:28:18,400 and then disappear into Michigan or wherever and never be heard from again. So 352 00:28:19,160 --> 00:28:22,920 you know, I think as long as Trump, if he's the next president, 353 00:28:23,039 --> 00:28:29,119 I'd say and show bust loads of people that he's catching and setting across 354 00:28:29,160 --> 00:28:33,519 to Mexico. He's a majority president because people will people will see that. 355 00:28:33,640 --> 00:28:37,839 Go Okay, Trump's doing what he's supposed to do. It's a new catch 356 00:28:37,839 --> 00:28:44,200 and release. We catch him here and we release there. Yeah, I 357 00:28:44,240 --> 00:28:48,519 mean, this is madness. I mean, look, it's it's not quite 358 00:28:48,599 --> 00:28:56,240 analogous to Rome being overrun by the Visigoths because the population of the country is 359 00:28:56,279 --> 00:29:02,039 far larger than the invading force. But this is an invasion, and I 360 00:29:02,079 --> 00:29:07,319 think Trump would be within his rights to declare it an invasion and take all 361 00:29:07,680 --> 00:29:12,599 necessary steps to undo it, to end it and to send the people back. 362 00:29:12,640 --> 00:29:15,640 And I don't think the Supreme Court is going to try to stop them 363 00:29:15,640 --> 00:29:21,759 from doing it, because you know, maybe it maybe we wind up with 364 00:29:21,880 --> 00:29:25,839 martial law. I don't know. Well, hey, it's a big issue. 365 00:29:25,839 --> 00:29:27,720 We'll be talking about more in the weeks to come, for sure, 366 00:29:29,599 --> 00:29:33,920 and I think we'll leave it at that, because the beach is calling me 367 00:29:33,039 --> 00:29:37,359 here, the beach in Thailand is calling me. Hey. Questions comments kl 368 00:29:37,559 --> 00:29:44,759 at Carrie Let's dot com. Don't forget John Substackrabino dot substack dot com and 369 00:29:45,319 --> 00:29:49,200 make sure you sign up for your free newsletter at Financial Survival Network dot com. 370 00:29:49,279 --> 00:29:56,799 We're starting John the Inflation Cafe Inflation dot Cafe and the newsletter first one 371 00:29:56,880 --> 00:30:02,039 is going to go out this week and pretty excited about it. Is based 372 00:30:02,079 --> 00:30:07,039 on my experience of going to a certain undisclosed coffee shop that we all know 373 00:30:07,160 --> 00:30:12,359 and well and love, the largest chain in the world, and realizing I 374 00:30:12,400 --> 00:30:17,559 was paying double for a price of coffee that I was paying three years ago. 375 00:30:17,920 --> 00:30:22,240 They cut back on their rewards and I had half a cup and I 376 00:30:22,640 --> 00:30:27,720 said to the manager, you're not in business is selling coffee. You guys 377 00:30:27,759 --> 00:30:34,240 sell inflation. Thus was born in the concept of the Inflation Cafe, and 378 00:30:34,440 --> 00:30:40,599 the you know, he just kind of laughed. But I am the chief 379 00:30:40,759 --> 00:30:45,119 editor. I am the editor and chief barista of the Inflation Cafe. So 380 00:30:45,640 --> 00:30:51,880 we're transitioning here. They mess with the wrong guy. Hey man, it's 381 00:30:51,960 --> 00:30:56,200 like seven frickin dollars for a drink. I can't believe I was paying more 382 00:30:56,240 --> 00:31:00,680 than four dollars for and it was overpriced at four dollars, John at seven, 383 00:31:00,759 --> 00:31:07,680 it's just highway robbery, and I can afford it. But why you 384 00:31:07,720 --> 00:31:11,039 know I cut back in the beauty is here here in Thailand, at the 385 00:31:11,079 --> 00:31:17,279 same undisclosed coffee shop. It's three bucks. Yeah. Do you have a 386 00:31:17,279 --> 00:31:19,519 second more for me to go on an inflation rant? Yeah? Sure, 387 00:31:19,640 --> 00:31:22,400 go ahead, Okay, okay, because you know, you see these guys 388 00:31:22,440 --> 00:31:27,599 like Paul Krugman, or basically anybody that is in the current power structure saying, 389 00:31:27,599 --> 00:31:32,480 oh, the economy is so good, Look how low unemployment is and 390 00:31:32,880 --> 00:31:37,640 inflation is down to two and a half percent, and why are people so 391 00:31:37,759 --> 00:31:41,920 mad still? You know, what they don't realize is that we've raised a 392 00:31:41,960 --> 00:31:48,720 lot of people's living expenses by thirty percent. Okay, and now we're coming 393 00:31:48,720 --> 00:31:52,200 to them and saying, look, the further increase is only three percent of 394 00:31:52,200 --> 00:31:56,640 a year. Well, we already raise their cost of living to the point 395 00:31:56,640 --> 00:32:00,359 where they have to decide between driving to work and feeding their care So the 396 00:32:00,400 --> 00:32:05,200 fact that it's only prices are only going up by another three percent a year 397 00:32:06,319 --> 00:32:08,319 does not help them and does not make them happy. And that's what the 398 00:32:08,319 --> 00:32:13,160 guys in charge can't figure out, because to them it's irrelevant. You know, 399 00:32:13,720 --> 00:32:17,759 the cost of a Starbucks coffee is just not a factor in life. 400 00:32:19,200 --> 00:32:23,160 Neither is the cost of a tankful of gas or you know, one week's 401 00:32:23,160 --> 00:32:27,079 worth of groceries or anything. But to everybody else, it's a big deal, 402 00:32:27,559 --> 00:32:30,839 and they've ruined it for this huge section of the economy. That's that's 403 00:32:30,880 --> 00:32:36,799 why, that's why there's so much angst out there right now. And John, 404 00:32:36,880 --> 00:32:38,759 let's face it, we're both right around the same age a year of 405 00:32:38,799 --> 00:32:44,799 each other. In our lead. We're pushing seventy. We live through the 406 00:32:44,920 --> 00:32:50,880 last inflationary period sixties, seventies, early eighties, so we understand it. 407 00:32:51,160 --> 00:32:55,400 But most of the people alive today, John, that no clue what inflation 408 00:32:55,759 --> 00:32:59,880 was. They didn't live through that just like they don't know what a bear 409 00:33:00,519 --> 00:33:05,759 is. The most of these kids on Wall Street now, most of the 410 00:33:05,799 --> 00:33:09,359 people walking the planet don't know what inflation is. They haven't lived through an 411 00:33:09,400 --> 00:33:15,279 inflationary cycle like we did and like our parents did post World War Two. 412 00:33:15,799 --> 00:33:20,359 So I think that's one of the reasons why I'm kind of like putting this 413 00:33:20,480 --> 00:33:25,759 newsletter together in a new site is I wanted to people to understand where it 414 00:33:25,799 --> 00:33:32,359 comes from, why it's happening, and that they're really being taxed silently against 415 00:33:32,359 --> 00:33:37,799 their will, against their consent. It's a stealth tax inflation, and it's 416 00:33:37,920 --> 00:33:42,599 rampant now. So we'll leave it at that. Hey, we'll talk to 417 00:33:42,640 --> 00:33:45,759 you in a couple of weeks when I'm back home and got my equipment. 418 00:33:45,960 --> 00:33:51,440 Everything is locked up right now. I actually went to the safe deposit box 419 00:33:51,480 --> 00:33:57,519 and threw my desktop computer in it so that because can't lose your data, 420 00:33:57,599 --> 00:34:00,839 you know, even though I'm backed up three ways to sign down, four 421 00:34:00,880 --> 00:34:05,880 ways actually anyways, it's all locked up. So all right, John, 422 00:34:05,960 --> 00:34:09,320 Hey, make sure you go to John Substack Rabino dot substack dot com. 423 00:34:09,400 --> 00:34:14,079 I want to see an article on inflation. John. All right, Harrie, 424 00:34:14,159 --> 00:34:16,039 send me what you do and I'll post it over the there. Okay, 425 00:34:16,239 --> 00:34:19,760 all right, cool, you got it, all right, we're working 426 00:34:19,800 --> 00:34:22,639 on it now. Thanks, talk to you soon. Thanks for listening to 427 00:34:22,800 --> 00:34:29,880 carry Letz's Financial Survival Network, your solution to today's trying times. For the 428 00:34:30,000 --> 00:34:37,119 latest, go to Financial Survivalnetwork dot com. Financial Survival Network now more than ever,