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And this was sort of the big
point that Brad made that he's going to

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talk about a treatom Fest, and
that is it increases productivity and reduces costs

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in so many different areas, and
this is an exciting development. You're listening

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00:00:13,599 --> 00:00:19,000
to Carrie Letz's Financial Survival Network,
where you get valuable information you just can't

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00:00:19,039 --> 00:00:25,039
find anywhere else to thrive in today's
trying times. You need the Financial Survival

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Network now more than ever. Go
to Financial Survivalnetwork dot com and get your

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00:00:30,800 --> 00:00:40,960
free newsletter and gift. Financial Survival
Network now more than ever ed. Welcome

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00:00:41,119 --> 00:00:44,920
you are listening to watching the Financial
Survival Network. I'm your host, Carrie

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Lutz got a real treat today.
Mark Skousen, the founder of Freedom Fest,

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is on with us as well as
a well known author and all around

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flaming libertarian much like yours. True
and Mark, it's really great to have

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you back. I missed freedom Fest
for the first time in ten years last

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summer due to a prior commitment,
but I'm going to be there this year.

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And it looks like you know,
for a while, interest looked like

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it was kind of waning, but
then a lot of things happened and now

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you guys are back stronger than ever. Well, yeah, we had.

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We were forced to cancel by Governor
Cisselak in Las Vegas in twenty twenty,

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and he gave us a notice like
two weeks before. He kept promising that

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we'll be able to do it,
and then he said, well, yeah,

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you can do it if you have
no more than fifty people in any

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room, including the general sessions.
And that was laughable. So in Essa's

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they shut us down. But you
know, it's interesting. We still did

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some smaller conferences at the Ahern Hotel
and so on during twenty twenty and then

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we can't. After that happened,
we decided, well, every other year

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we're going to go to a different
city. We're going to be in Vegas

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every other year, and then the
rest of the time we're going to be

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going We were in twenty twenty twenty
one, I guess we were in South

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Dakota. We went to Mount Rushmore
and we had a huge, huge turnout.

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Half the people had never been to
Mount Rushmore before, so it was

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quite popular. And Kevin O'Leary is
our keynote speaker, and it was really

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a lot of fun. And then
the next year we were back in Vegas.

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We had John Cleeese, the British
comedian, We had a big crowd.

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It was really a lot of fun. And then this last year we

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were in Memphis and we had Mike
Row come and he was just fantastic.

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And we always have a big name
speaker. So this year we're back in

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Vegas, and I can reveal to
you at some point in the program where

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we're going to be next year,
because it's raised a lot of eyebrows and

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so we might as well talk about
that right now. So next year we're

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going to be in Palm Springs and
in California. That's our first time,

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perhaps our only time in California went
into the fri But Palm Springs is really

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an interesting story because that's where the
Hollywood crowd and the rat pack and so

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forth went to write uh screenplays.
I mean Frank Capra of It's a Wonderful

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Life every time he said, let's
go to Palm Springs and perform or come

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up with the screenplay. So that's
that's quite famous for. In fact,

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I was talking to Van Simmons,
the coin dealer, and he says that

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there's more concentrated wealth in Palm Springs
than any other part of the world,

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which kind of surprised me. So
that's next year, and it's going to

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be in June rather than July,
so we're saving ourselves a little bit on

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the heat in Bold Springs. But
so this year we're in Vegas. We

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have as our keynote speaker, well, we have a couple of them.

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We have Stephen Pinker from Harvard,
who is foremost I would call him the

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public intellectual number one in America in
his books on on violence, how violence

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has gradually declined. He's got some
really work there, and so we're looking

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forward to hearing what he has to
say about the enlightenment and rational thinking and

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are we going to are we headed
for a new World War three? If

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you will. We have also have
the wrapper Iced Tea coming, who's been

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making quite a few little here statements. Yeah, so I stee he's the

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longest standing actor in law and order. Uh. And of course he's has

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tremendous experien sperience with the black community, and so it's going to be interesting

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to hear him or maybe hear him
rap about what's happening in the world today.

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And of course Lisa Kennedy from Fox
News is going to be back as

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our MC and we just confirm Matt
Ridley, Lord Matt Ridley Ridley from the

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UK, so he's probably public ellectual
number one of the UK who's coming and

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talking about innovation. We're going to
have a debate, by the way,

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uh carry, I don't know if
you're familiar with this big debate among libertarians,

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primarily about whether intellectual property rights is
an actual property right that should be

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enforced by law. We're talking about
patents, trademarks, conky right and there's

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a lot of h I have a
libertarians. You say, now there shouldn't

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be any laws on this, and
you're on your own once you invet something.

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I think it's pretty crazy. Lord
Ridley and has written about this saying

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his book How Innovation Works. And
we're going to have a debate on this

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topic. Well, remember Steve Jobs
was a big defender of intellectual property if

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it was Apple's, but when it
came to everyone else's intellectual property, he

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couldn't have cared less. And Apple
had the resources to fight any fight out

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there. So yeah, I know
that fight has been out there and it's

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one of those kind of balancing things, whereas if you have too much intellectual

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property rights, it will stifle innovation. But then again, we've all heard

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the stories about the car companies,
and I don't know if it's true or

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not, but it sure sounds interesting
where they there's a two hundred mile per

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hour corburetor that they've bought up,
and they've stolen intellectual property and suppressed it.

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So I want to see that as
a recovering attorney, and in fact,

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as America's top recovering attorney, I
personally want to want to view that

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debate because you know, it really
is unsettled in my mind. And look,

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the Chinese have been ignoring intellectual property
rights since they started their assent.

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It doesn't look like it's doing them
much good now though. No. In

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fact, my wife has an experience. He wrote a book called Matriarchs of

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the Messiah about the women in the
Bible, and street bound on online on

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Amazon, four different books that had
her exact It was her book. They

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just changed the title and changed the
author, but it was her book.

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I mean, are we supposed to
just walk away and just let that happen?

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I don't know. It seemed a
little bit bizarre, and Amazon took

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him down when when we pointed that
out that they had stolen uh this intellectual

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property copyright violight in our copyright.
And by the way, we have the

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same problem with Freedom Fest. There's
quite a few organizations, primarily around the

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July fourth holiday that call themselves Freedom
Fest. Do we write them a polite

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letter saying listen, we have a
trademark on this, so we'd prefer that

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you not use it, and most
most of them have been quite cooperative,

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but it is an issue. And
anybody who's written a book or as a

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patent, if you spend billions of
dollars developing a drug, I mean,

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should you have an exclusive rite for
a certain period of time at least for

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that It sounds like a legitimate argument
to me. So this will be a

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fun debate for sure. And I've
had the same thing happen to me on

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YouTube, where people have ripped off
my shows more than fair comment, put

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them with a bunch of other shows, and they wind up getting more reviews

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than me because they're not restricted by
YouTube. But because of my prior political

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pronouncements, I'm in the YouTube sandbox, you know, I'm throttled and god

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forbid, I get more than five
thousand views on a video, then they

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start suppressing it. Hey, but
you know what, look this fits into

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AI really will because anything that you
produced from AI doesn't have any copyright protection.

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Well, and by the way,
we had someone that we've invited to

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Freedom Fest, so we are going
to have a big session on AI.

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And this guy, Bradana Kastanio I
think is his name, and he's from

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San Diego. We've invited him to
speak at freedom Fest and he gives an

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incredible presentation on all the positive aspects
of AI. And one of the examples

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he in years was he gave he
said, now let me show you a

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lecture that I gave, and he
just shows a little snippet from his lecture

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that he gave in English, and
then he said, now let me show

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you what AI has done to create
this lecture in Spanish. So it's his

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voice, it's but it's all in
Spanish, and his lips now look like

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he's saying it in Spanish. You
know, when they have that problem of

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translation, that's often a problem the
lips are moving one way in the language

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is another. Well that's been solved
with AI, and so he goes to

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a whole litany of all of these
positive things that are coming out of AI

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instead of just the negative that the
chat GBT will allow students to plagiarize without

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impunity. These are the issues that
I have as a professor, of course,

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because we want people to do their
own original work. But chat GBT,

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the Tyler Cowen of marginal Revolution,
he did a chat GBT what is

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Mark Skelezan's greatest contribution to economics?
And it was absolutely one hundred percent accurate

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and beatifully Britton. I was really
shocked because I've heard heard all these statements

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that they come up with a lot
of false information and that's all the truth

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my case, it wasn't all right. Well, hey, I am going

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to run it as we speak,
because I got to see this. I

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put in Peter Schiff one time and
it was fairly accurate. I put in

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like top ten gold bugs, and
his name came up, so and I

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subscribed to it because look, I'm
gonna like make a little personal disclosure here.

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I used to have somebody writing show
notes to these interviews cost me a

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good amount of money. She was
definitely worth it, really English scholar.

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And then to Oxford, and you
know, but she didn't really have an

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in depth understanding of what it was
I was about. When I put it

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through, I use an AI,
NotI it taker, which I'm doing on

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this show, and then I put
it through chat GPT. I make a

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few edits because it's kind of it's
kind of predisposed to some relatives and trite

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statements, so I cut them out. But you know, I'm able to

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do it in a matter of minutes. It's speeded up my workflow by about

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three hundred percent and saving me money
at the same time. So if you

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read in these show notes, take
note they were written by two ais,

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because I don't think one AI is
enough. Mark. Yeah, but you

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raise the important point, and this
was sort of the big point that Brad

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made that it's going to talk about
a free invest and that is it increases

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productivity and it reduces costs in so
many different areas, and this is an

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exciting development. So I think we're
afraid of it. We're afraid that computers

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and robots are going to take over
the world and so forth. This is

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a genuine fear, I think.
But and who wants to play I don't

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know if you've played computer chess at
all, but it's almost impossible to beat

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these cases. Yeah, you just
can't beat them at all, even at

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the lowest level. I have a
hard time beating the computers. So it

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takes away some of the fun of
playing chess and other games. Yeah,

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well, you know, that's that's
technology for you. Well, here you

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are Mark Scouts and It is an
American economist, investment analyst, and author

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who has made significant contributions to the
field of economics, particularly in the areas

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of free market theory, investment strategies, and historical economic analysis. His work

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spans over several decades and has influenced
not only academic circles, but also investment

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practices in public policy. Well,
it's telling me things I didn't even know

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about you, Mark, And I
didn't even know about it either. Thought

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on the one that Tyler Cowen did
for me, who said my gross output

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GOO is my major contribution, and
that was definitely back it's here. Yeah,

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yeah, exactly. So it's nice
to see that kind of thing.

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I mean, I think overall this
is really very exciting. The problem is

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that you know, it's going to
get to the point on in politics where

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they can create characters that look just
like the politician saying things that he never

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said. That's going to happen,
and that has probably already happened. In

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fact, we might have had an
AI in the White House for years and

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not even known about it. Not
Mark right, Well, he's been cloned.

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But why would why would you clone
someone who's half asleep? Hey,

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if this is AI, that it
could be the biggest ad to like put

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the genie back in the bottle that
there is. Hey, so talking about

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economic theory, about advancements, did
you ever think he would live to see

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a major Latin American country rightfully elect
a libertarian who in twelve I think,

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in less than ninety days made an
economy that was in chronic deficit for the

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past dozen years into surplus, closing
down government entities left and right. And

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this is like the greatest libertarian experiment. Mark that a country's undertaken, probably

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in your life and mine, I
think we have. We have just now

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recognized how significant this paradigm shift is
in Latin American politics and perhaps around the

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world. So you look back at
Salad Oiende, the Marxist too one in

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Chile. He won with there was
a three way race, so he never

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had a majority support for his Marxist
vision of Chile, and of course it

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ended very badly. Here you have
a candidate who has won the majority.

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I think he won with fifty six
percent of a vote, and he's got

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very widespread support. I've talked to
a number of Argentines. In fact,

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my son in law is Argentinian,
and so he keeps me informed of what

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people are thinking and so forth,
and so far he has still very strong

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support. Although in the legislature he
has his own party is an extremely small

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minority, and that is something has
to deal with. He has to deal

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with the Pedinistas and the unions,
which are still very strong in maintaining their

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conservative let's keep it the way it
is, of corruption and excessive government regulation

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and size. Do you know,
from what I understand, over half the

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people, half the Argentinians, to
get some kind of compensation from the government,

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either in payment one sort or another. They're working for the government,

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and so it's a tall order for
Malay Hobbier Malaye, I wish his first

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name was Salvador. Like Ende could
see he could be the savior of Latin

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America and the world. The jurious. You know, the jury is still

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out on this guy because he could
be handcuffed and he could end up resigning.

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I mean, you just never know
if he's not able to achieve the

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goals that he has. And it
is political, I mean, it's everything

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is as you know, you can
have your own strong libertarian views. I

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mean, he's called himself an anarcher, anarchist, and I think he named

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his dog Murray Rothbart or something,
so obviously he's not an anarchist because he's

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having to deal with real world problems. The biggest issue there with Malay is

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the dollarization that he has proposed,
and he has not delivered on that yet.

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Steve Hanke of Johns Hopkins, who's
the world's expert on dollarization, he's

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helped Ecuador dollariz and other and currency
boards and that sort of thing. He

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says that Malay is making a big
mistake postponing the dollarsation. But of course

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you have to have you have to
have plenty of dollars to dollarize, because

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if you dollarize at a high exchange
rate in order to cover your dollarization,

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that could be quite a burden on
the average person. Ecuador did this.

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They converted the escudo at twenty five
thousand escudos to the dollar. Well,

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I mean I was in Ecuador recently
and they told me when this happened ten

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years ago that the four of the
middle class are really slammed because they didn't

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have dollars. They had to turn
in twenty five thousand isscudos to get one

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dollar. The tax and attack difficult. So for Argentina this could be a

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problem. Is what is the exchange
rate that you're going to do this as

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And I don't know if you can
do it right away or not. Hanky

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says yes, and the others are
saying we need to accumulate more dollars.

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So talking about currencies, and I
didn't have this on our list of things

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to talk about. But now that
you raised it, we got this bitcoin

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right. I was a skeptic for
many years. I'm still skeptical because I

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know that it can be shut down. Should the powers that be really regarded

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as a major threat, and yet
to performance wise lately, I mean,

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it is the best performing asset of
twenty twenty four. Well, not only

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that, but I have a chart
in my latest newsletter. This chart will

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blow you away. I can't I
don't think I can. It'd be nice

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to put up on the screen.
But it's a chart showing the performance of

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various assets year by year since twenty
and eleven. And that's so we're looking

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at yeah, we're looking at eleven. It's it's eleven years or something,

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maybe since twenty thirteen. So eight
out of the eleven years, guess what

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asset is out performed at the top. It's bitcoin. Yeah, and then

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also the three years and it underperformed. It was the worst performing. So

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it was just up and down like
a yo yo, you know, or

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at all away. It's the new
inflation edge. It's just remarkable. It

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is performance, and all of us
kind of missed it. Yeah, yeah,

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well I had the opportunity. I
followed it. And I'm an expert

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at figuring out when bitcoin peaks,
but I'm really bad at figuring out when

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it when at bottoms and buying.
But so what I've done is all I

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did was just set up automatically on
a site. I buy X amount of

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bitcoin every Monday, and then when
I believe it's peaked, I dump it

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and then I begin the acquisition again. And you know, I'm I don't

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you know, Hey, I'm no
investment gurger like you, but it's proven

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to be an effective way to play
this thing because it's much easier to pick

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a peek than it is to pick
a bottom, at least in my experience

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in markets. You know, I
think that. I mean, my son

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Tim and I put together. We
have this TNT trader. It's a short

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term trading system, and we are
all in bitcoin and cryptocurrencies and blockchain technology

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and all of this sort of thing. I mean they are. We are

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printing money right now virtually. Mean
is because we have call options on top

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of the bitcoin. And what you
talked about the government shutting it down,

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Well, guess what the government did. And one reason the market has taken

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off when the SEC approved all the
ETFs in bitcoin. That was the bottom,

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that was a messing song. Hey, the government's actually approved this,

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and you you the returns have just
been spectactuar and we actually think it could

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hit one hundred thousand before overhud a
thousand before it's over. We will see

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these kind of products jet to be
careful of because you never know when some

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kind of event is going to occur
to the causes it to collapse. How

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do I sign up for your TNT
Trader stock investor. Mark. Well,

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you go to Mark skalsend dot com
and TNT Trader is there, and it's

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a rather expensive service. But we
do have an introductory offer of ninety nine

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dollars for the first quarter, but
then it's two hundred and seventy five dollars

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every quarter after that. Mark.
If it worked, it's chop chamber,

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chop change order for those are here
want to make money. Mark. Obviously

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you didn't hear that we're having this
thing called inflation. You should be getting

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at least five hundred dollars a quarter
for this because if it works. Hey,

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people always say, well, if
the system really worked, if the

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guy knew what he was doing,
particularly with gambling systems, he wouldn't be

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selling it to the public. He'd
just be out there printing money. But

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there is a boat that I have
it in my own portfolio as well,

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so we're doing both. But I'm
signing up today. Yes, yes,

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sir, I'm signing up, and
I will have a link in the show

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out to this interview that the AI
will be gracious enough to write for you.

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Oh, thank you, because one
thing I've learned is the system may

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be good or it may be bad, but it's better than not having any

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system at all, because the only
way to make money over the long run

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is discipline, because discipline will get
you in there when you should be in,

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it'll get you out when you need
to be out emotions. If you

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don't have a system, then you're
only running on emotions. I think.

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Also, we have protective stops so
that we move the trailing stop up as

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we're making money and we get stopped
out because you never know when the market's

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going to turn against you, especially
in the option area, and we do

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out of the money call options,
which is a high risk, but you

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know you can't lose more than an
hundred percent, but you have upside potential

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that's unlimited. So that's our approach, all right, I love it.

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Hey, we'll have two links there
linked to Mark site and TNT Trader as

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00:24:44,680 --> 00:24:48,799
well as to freedomfest dot com.
I am definitely going to be there this

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time. Mark, appreciate your taking
time out from your pursuits here to touch

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00:24:55,200 --> 00:24:57,160
base with us and bring us up
to date. If you got a question

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for Mark myself the email mail addresses
k Lfcarrie Lutz dot com and make sure

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00:25:04,480 --> 00:25:08,960
you go to the site Financial Survival
Network dot com and sign up for our

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00:25:10,000 --> 00:25:14,680
free newsletter Mark always a pleasure.
We'll see you in Vegas, all right.

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Take care, Thank you, Carrie, Thanks for listening to Carrie Lutz's

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Financial Survival Network, your solution to
today's trying times. For the latest,

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00:25:23,240 --> 00:25:30,920
go to Financial Survivalnetwork dot com.
Financial Survival Network now more than ever,