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Now. I don't know why the
non from pay reports constantly have to be

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revised to the downside, but you
can you imagine maybe it looks good for

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certain people to purport that X number
of jobs were created, and then you

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know when they do the revisions.
Who really looks at the revisions. It's

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the headline. It's the headlines like, well, much better than expected that

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they're really going for now in there, let's just look underneath the report.

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Other than just the revisions. Government
hiring accounted for fifty two thousand people.

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That's a tremendous amount of unproductive people
being hired. You are listening to Carrie

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00:00:34,079 --> 00:00:39,799
Let's's Financial Survival Network, where you
get valuable information you just can't find anywhere

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00:00:39,799 --> 00:00:46,079
else to thrive in today's trying times. You need the Financial Survival Network now

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00:00:46,240 --> 00:00:51,560
more than ever. Go to Financial
Survivalnetwork dot com and get your free newsletter

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00:00:51,600 --> 00:01:00,079
and gift. Financial Survival Network now
more than ever. Ed. Welcome you

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are listening to in watching the Financial
Survival Network. I'm your host, Carrie

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Lutz. It's one five twenty four. Happy New year to all. We've

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been a little bit slow lately,
taking it easy. Family visiting from out

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of town and just saving things up. So we're starting off the year right

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with our good friend Michael pentopentoport dot
com and hey, Michael, great news

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today, non farm payroll report stronger
than experts expected. I don't know who

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those experts were. I don't know
what they've been smoking. I have no

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idea what they did for the past
four New years, but I guess whatever

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it was they ingested is carrying out
for a week now. Happy new Year

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to you, Carrie, and I
wish you the best of luck, prospery,

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and health for twenty twenty four.
Did ye? Let's just start the

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CNBC headline, The non far bearer
report was much better than expected, much

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better than expected. Go and look
at the c NBC's website, say yes

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that you're fine. So the number
came in at two hundred and sixteen thousand

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thousand versus one hundred and seventy five
thousand new net new Hire estimate. Now

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would they don't really well, let's
just say obfuscated or they left out of

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the headline was the revisions were negative
seventy one thousand for October and November,

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and he had those two months together. There was a seventy one thousand person

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revision to the downside. Now,
I don't know why the non and front

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pay reports constantly have to be revised
to the downside, but you can,

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you know, imagine, maybe it
looks good for certain people to purport that

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X number of jobs were created,
and then you know when they do the

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revisions. Who really looks at the
revisions. It's the headline. It's the

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headlines like, well, much better
than expected that they're really going for now

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in there, let's just look underneath
the report. Other than just the revisions.

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Government hiring accounted for fifty two thousand
people. That's a tremendous amount of

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unproductive people being hired, worst,
the non productive. A lot of the

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times they're like destructive of the productive
people, right of course, of course,

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So what they do is they tax
the productive part of the economy and

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then they employ people to what I
call productivity killers is what they really are.

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Now let's go deep into that.
There was a six hundred and seventy

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six thousand person decline in the labor
force. And if you look at the

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two surveys, so there's the establishment
survey in the household survey. As you

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know, the establishment survey sowed it
was much better than expected, but the

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household survey showed there were six hundred
and eighty three thousand fewer people employed from

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December to November. I said that
right, six eighty three thousand fewer people.

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The average work week fell, the
index of aggregate hours work dropped as

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well. And then we look at
the the ISM Institute for Supply Managements Manufacturing

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and Service sector survey, very key, very very predominant measures of how the

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economy is really doing. Both those
surveys showed that there was a decline in

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hiring, in other words, a
net shedding of jobs in both the household

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I'm sorry, and the manufacturing and
the service sector. So if you look

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through that better than expected bs that
donkey dung that they that they like to

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and concentrate on the jobs market is
rich, is deteriorating, and it's deteriorating

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quickly. So that's the time.
Those are the facts. Those are the

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facts. Things are not always what
they seem to be or are they like

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No, no, not at all, and not the way the mainstream financial

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media and Wall Street purports them.
Bate. Yeah, don't forget. You

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know, if you look at CNBC
and every other major financial media outlet,

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not yours and not the I call
the alternative financial media that do we get

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real facts and real analysis. They're
they're paid by their advertisers. And those

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advertisers are who the major Wall Street
banks and big Pharma, right, Big

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Pharma and the banks and not many
others left. Yeah. Yes, So

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if you're if your major sponsors are
the ones that are trying to pedal stocks,

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IPOs, corporate bonds, that they
get paid to pervade this myth of

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a perpetual bull market and that you
always should be invested in no matter what

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you do, And they tend to
ignore the big h you know, pullbacks

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in the market like two thousand,
two thousand and eight, two eighteen,

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My team twenty twenty, twenty twenty
two lips. Yeah, Kerrie, if

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you're preparing for a retirement, what's
the one thing you imagine worked hard your

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whole life, you save a few
million dollars or maybe more or less in

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some cases, and you say to
yourself, what's the number one thing I

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can't have happen. I can't have
another thirty, forty, fifty or eighty

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percent decline in the stock market.
That's the number one thing you should be

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thinking about. War Muffett said,
it best just don't lose money, just

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all those money. And here's the
thing. The construct of the economy and

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the markets are so artificial it's absolutely
susceptible to these massive air pockets in valuation

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and prices. Sure, sure,
hey, you know when we last spoke,

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you said basically that the bond market
was broken, wasn't functioning properly,

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and that bad things were going to
happen here. Can you just follow up

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on that as far as a lot
of people wanted to know, how is

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the bond market broke and what is
it not doing or that it should be

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or doing that it shouldn't be.
Well, what it shouldn't be doing,

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Carrie, is trading like a Nasdaq
small cap pink sheet stock that goes up

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and down, you know, thirty
percent a day. The bond market is

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trading like a very ill liquid pink
sheet stock on some days. I mean

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you see to even today we had
the announcement of the better than expected jobs

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report and yields shot up way above
four percent on the benchmark Treasury, and

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then the ism service sector data came
out and yields plunged to a huge drop

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and they're back up again. As
the core of this interview, this is

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just on Friday of the non front
pailwall announcement. So there's a lot of

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illiquidity in the bond market. That's
why it's broken. I mean it's broken

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because dealers have a lot of regulations
now, they can't keep a lot of

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inventory, you know Basel three.
It's broken because of the Fed's reverse repol

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facility, which is running dry.
It used to be two and a half

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trillion now it's only seven hundred billion
dollars. So when that easy liquidity,

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the bar marker is already a liquid
When the reverse repol facility goes to two

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hundred billion or around that number,
that's when the easy liquidity is gone from

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banks to buy bonds, and then
you just stuck with. The Treasury has

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a thirty four trillion dollar debt.
Annual deficits are two trillion dollars. They

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have to roll over five trillion dollars
because you know, bond's mature, you

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got to roll them over to somebody. So the Jerseury has to refinance seven

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trillion dollars in twenty twenty four,
and who the hell is going to buy

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it if the Fed selling too.
The FED is still in the midst of

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twenty native tightening, and that doesn't
really bite because it's being offset by the

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reverse rebel facility. That's money that's
parked at the Federal reserve. Banks are

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parking their reserves at the Central Bank. But now the Central Bank says,

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okay, you know, yields are
probably going to go down. They're saying

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that they're going to lower interest rates. So people are taking money from the

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universe rebel facility in buying bonds,
so that's offsetting QT. But in March

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that goes away. So QT is
really going to start to sharply bite into

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whatever liquidity is left from the bond
market. So you see, you'll see

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the bond market trade even more erratically
than it already is, even more huh,

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So where is that going to leave
us here? Like, you know,

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you've been pretty spot on about calling
what it said was going to do.

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You know, supposedly everyone's celebrating there's
a pivot going on. Obviously rates

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have fallen dramatically over the past month. Is the pivot real or is it

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fake? Well, the wolves so
I believe that Wall Street takes a pivot,

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you know, a whiff in the
air of a pivot, and then

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runs with it. So the FED
said that they weren't going to discuss rate

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cuts. They said it if that
Powell said it about three weeks before the

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last THAD meeting, and then ittures
out that was a complete lie because the

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dot plot shows that they not only
discussed it, they have three rate cuts

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in the dot plot for twenty twenty
four. Wall Street took those three rate

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hikes and doubled it and said it's
going to be six. I say hikes,

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three rate cuts, rate cuts,
yes, right cuts. Wall Street

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took that and ran and doubled it, and now it's six rate cuts that

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are going to be supposedly taken in
twenty twenty four. And then you see,

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you know, better and expected non
farm Paylery report, the unemployment rate

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stays the same, employee compensation was
increased in employee costs index rows. So

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now they're saying, okay, uh, there's a not going to be six,

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maybe they'll just be three. And
but but the pivot is all a

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rumor right now. I mean,
the FED is not right now cutting interest

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rates and they are still doing QT
and as I said in March, March

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is a key month, Kerry for
investors in the economy, the market.

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It's just huge. Not only does
the reverse rebail facility run dry around that

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time, but the bank term funding
program that facility is supposed to expire in

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March. That is good that you
believe it. No, I don't,

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I really don't, because see Powell. Powell bailed out the entire regional banking

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system in this country right in March
of twenty twenty four. He printed for

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this is a fact, he printed
four hundred billion dollars in two weeks,

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Kerry. Just so you know,
from nineteen thirteen, the formation of this

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horrific organization until two thousand and seven, the fends Ballashie was seven hundred billion

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dollars, around seven hundred and fifty
billion dollars, right they printed. So

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it took all those years to get
to an asset balance sheet of seven hundred

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and fifty billion dollars. And it
took two weeks to double it. The

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double that size two Pikes New Eggs
in two weeks. Scary two weeks.

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Come on, man, let's they
should be shocked at that, all right,

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two weeks to double it that size, and they bailed out the entire

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banking system with that. And they're
still one hundred and thirty three billion dollars

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of banks. So this is what
they did. Banks said I I banks

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are failing left and right. There
was four banks that failed in March.

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The regional banking system plunge in value. The KRE you can look it up.

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And they did it because their assets
mortgage backed securities and bonds were way

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under water because of what the Fed
did had to catch up to hiking interest

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rates, and these no one wanted, you know, nobody wanted to buy

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and more hold a mortgage bond that
was yielding three percent when mortgagees went yielding

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eight percent. No one wanted.
No one wanted to own a treasury it

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was yielding a hand on percent when
they can get five percent on a zebo.

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So these banks were insolvent. They
went back. They're going bankrupt left

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and right. So Pal says,
I will take your assets at one hundred

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cents on the dollar, and I
will take them off your balance sheet for

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one year and then and this is
March. March is coming very quickly,

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Karen, March, you're supposed to
give me back. I'm gonna be handing

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you your assets that are still severely
underwater and in some cases much more severely

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underwater than they were in March of
twenty three, and you're going to give

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me back one hundred cents on the
dollar, all that credit plus interest.

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Now, if that happens, you're
going to see the flushing sound of the

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stock market down the toilet. Now, some people say that he has to

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do this because he has to stop
the speculation and he'll never get to two

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percent inflation. I happened to think, and you know, it's hard to

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read this schizophrenic, effectless and sometimes
sometimes mendacious Fed. It's hard to read

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what they're going to do. But
I believe he has to err on the

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side of inflation. So he's going
to let he's going to expand and extend.

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OK, we agree on that.
So what is that going to do

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to our inflation rate? I mean, let's assume that right now, and

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I'm not buying it, that inflation's
totally under control. Prices are stable,

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they're not going any higher for right
now. But now the Fed's gonna going

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00:14:35,600 --> 00:14:37,799
to step on the gas pedal and
ease up off the brake pedal all at

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once. What does that do to
our inflation here? Well, you asked

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the most salient question that there possibly
is good for you. So so prices

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for most Americans, sixty percent of
Americans have virtually no savings paycheck to paycheck

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unfortunately, carry Those are the people
that can't for groceries any longer. Those

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are the people that are ranging up
massive credit card debts so they can make

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ends meet. For those people,
prices aren't coming down like they have to.

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Prices are going up more slowly than
they were. Right so they're going

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up at three three point five,
three point seven percent year of year,

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00:15:20,799 --> 00:15:28,039
just still tremendous salts on a wound
because they were going up twenty percent officially

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nine but in reality twenty percent post
COVID for a few years. And now

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they're only going up. They're going
up more slowly from an already unffordable level.

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So you ask the great question,
what if Hallell was to what I

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think he's going to do, stop
QT and maybe even go back into QE,

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extend the bank term funding program,
and cut interest rates. He's going

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to be doing that when an inflation
is already wiping out and eviscerating the middle

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00:16:03,200 --> 00:16:07,440
class. And when inflation, record
high inflation in this country is still fresh

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00:16:07,480 --> 00:16:11,559
in the minds, that sting of
record high inflation is still very salient in

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the minds right Americans. So what
that means, I think inflation has the

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risk of running intractable at that point. If he's gonna if he's gonna stop

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00:16:22,480 --> 00:16:26,279
the bank turn you know, stop
the the the quantitative tightening, extend the

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bank term funding program, cut interest
rates to try to boost Wall Street and

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keep big banks in a solvent condition
and stop the debt inflation and keep asset

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by bubbles boiling on the boil.
Then he risks obliterating, obliterating the confidence

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whatever's left in the US dollar and
in our treasury market. And that could

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have deadly ramifications because if you have
a slow economy, a stagflating economy,

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one that's marked by you know,
a stagnant growth and very high prices,

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and you go back into those you
know, do those things I just mentioned,

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you risk having long term interest rates
rise instead of full Now normally,

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when the Fed, when you see
your recession, that's the that's the cathartic

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effect of the market at work.
So you see debt to folds, acid

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doubbles, pop, interest rates plunge, and that begins the shield. That's

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the beginning of the healing process.
But the healing process can't take place if

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the bond market it goes babilistic and
people lose confidence in the purchasing power of

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the dollar. In US treasuries,
you can see yield skyrocket, and then

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there is no solve. There is
no healing process. It's just a massive

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debacle where you see a bear market
in treasuries, prices go down, you'll

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goes up, and stocks to tumble. Well, that's that could happen.

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That's not just a that's not a
fat tail risk. That's very probable because

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you haven't cured the problem. You
you're gonna you're gonna you're gonna resort to

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the same playbook that you have since
nineteen eighty seven, which was, Hey,

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there's a hiccup in the economy,
there's a blip in the stock market,

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We're going to print money. We're
going to monetize that. That works

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in deflation and disinflation. It does
not work in inflation. You know,

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it's interesting, Michael, You and
I remember the last inflationary cycle in the

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sixties, seventies, and eighties,
But most people alive today don't know anything

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about it. They don't remember it. They weren't alive then, and basically

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they believe whatever bs the Federal Reserve
dishes out to them. That I find

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like kind of shocking kerry. Most
people don't even remember when we're alive,

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we're at least alive to a point
where they actually managing money, when when

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the FED wasn't able to just ride
to the rescue. I mean, think

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about just mentioned the history. What
happened in two thousand, What happened Let's

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go back even further in the eighty
seven crash. How about when the Tibot

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collapse and the Russian debt default.
How about when the Nasdak collapse. How

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about two thousand and eight in the
real estate crisis. How about well we

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had an outbreak of or before that
with the REPO crisis of twenty eighteen,

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how about the COVID outbreak, how
about the twenty twenty two Everything is met

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with the same every Yeah, every
crisis is met with the same prescription.

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We're going to cut interest rates and
we're going to print a lot of money

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and monetize a lot of debt now
in post covid is and they've unleashed the

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helicopter money squadron. You know,
people get checks in the mail and instead

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of borrowing the money from the private
sector, yeah, central bank just prints

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it. Yeah, it's that's true. We've we've crossed the rubicon on this.

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This is the shark has been jumped. Jump. You could use any

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kind of metaphor you like. But
if they try that donkey dung again,

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if they try that BS again,
they'll fool nobody. Don't tell, don't

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00:20:00,279 --> 00:20:04,240
you. Powell can't come back and
say, you know, we're really behind

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on the inflation ball and we're going
to tighten interest rates, and no you're

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not, because what you really are
in place to do, mister Powell.

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And this has been the case since, you know, for decades. The

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central bank is created, was created
to protect banks. They are the banker

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back and when banks get in trouble, they go to the federal Reserve and

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they a little The little consequence,
a little small consequence of that, is

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that the purchasing power of the middle
class and the US dollar is wiped out.

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I'm not just talking about against the
Euro. I'm talking about the purchasing

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power of the dollar against gold,
the actual value of the dollar. Look,

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gold used to be thirty three dollars
an ounce, it's two thousand an

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Now. Didn't happen because gold,
you know, it became more valuable.

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It's because the dollar loss it's value. It's it's the your stick and which

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you measure the purchasing power of your
currency. And it's crap. It's crap.

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The currency is crap. That she
is, that she is, all

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right. So now the question is
what do you do about it? How

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do you protect yourself? How do
you how do you hide from this onslaught?

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Can you? Is there anything you
can possibly do well? We have

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seventy percent of our portfolio in short
duration treasuries, the shortest duration that you

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can find outside of tea bills.
So we think, I think, in

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particular, the next big thing,
the next next shooting drop, is going

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to be the manifestation of recessionary data. You're going to see some really bad

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economic data, which of course is
going to cause the padloli in response of

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people rushing into the bond market.
That's why we're at one to three year

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00:21:49,480 --> 00:21:53,200
treasuries right now. We left,
we left the safety of te bills which

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00:21:53,559 --> 00:22:03,319
cannot participate participate in an increase in
a recessionary environment because there's no duration there,

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there's no convexity. So I went
out a little further. I do

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own gold, I do own some
minors. I don't have any direct shorts

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00:22:14,279 --> 00:22:18,720
other than high yield right now.
High yield is definitely a short that remains

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00:22:18,720 --> 00:22:22,200
as short for me. I think
the next step will be this manifestation of

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the recessionary data. You'll see the
Fed react to that. It'll be too

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00:22:26,079 --> 00:22:30,480
little, too late, You'll have
a recession. Depends on how much they

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do. I mean, there's a
range of outcomes here. I mean,

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what if Powell and Yellen, the
head of the Treasury, once again,

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00:22:37,319 --> 00:22:42,680
once again combined forces to say,
hey, let's just this is what they

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00:22:42,680 --> 00:22:48,160
did. Let's just launch a helicopter
money squadron of six trillion dollars of checks

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00:22:48,160 --> 00:22:52,279
into the man and I'll have the
FED monetize form and a half trillion dollars

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of it. That's exactly what happened, Carrie. What do you think is

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going to happen to the deficit that's
already we have a peacetime deficit. I

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00:23:00,640 --> 00:23:03,440
get the vomit in my mouth.
The odject of this coming as I speak.

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00:23:03,640 --> 00:23:10,559
We've got two trillion dollar annual deficit
in peacetime and prospect and supposedly goldilocks

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00:23:10,599 --> 00:23:14,839
prosperity. That deficit is going to
go to six trillion dollars if we have

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00:23:14,880 --> 00:23:18,279
a recession. That's what I think. That's my that's my prediction. So

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who the heck is gonna buy it? And at what price? That's the

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reality. That's to check me.
People tell me all the time, this

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aggravates me a couple of things.
Many things aggravate me, but two of

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00:23:26,279 --> 00:23:32,279
the things that aggrevate Well, don't
you know. The reason why we had

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such great growth is because the the
defend and treasury, particularly the treasury,

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00:23:37,839 --> 00:23:41,440
they they had, they ran these
huge deficits, and deficits are very stimulid

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00:23:41,480 --> 00:23:45,160
and stimilated to it. The deficits
are what deficits do in the long run.

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They may let me they made in
a short term boost maybe, but

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what they what they do in the
long run is they they they create a

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condition of stagflation. And so they
they they are they are productivity killers and

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00:23:57,440 --> 00:24:00,640
inflation engenderers. That's that's what they
do. That's what eppisit is doing the

301
00:24:00,680 --> 00:24:03,279
way. Yeah, exactly. So
if they do it, if they do

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00:24:03,319 --> 00:24:06,960
it now, if they're gonna,
if they're gonna try, then if they

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00:24:07,000 --> 00:24:11,640
go to the usual playbook, watch
what happens in long duration bond yields ten

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00:24:11,720 --> 00:24:15,960
years, twenty years, thirty years, zero coupon bonds, if those yields

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00:24:17,480 --> 00:24:25,079
rise instead of fall out below yep. So, so they'll actually we already

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00:24:25,119 --> 00:24:29,119
see that when they just print money. Now, it doesn't really grow the

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00:24:29,200 --> 00:24:34,400
economy any right, economy doesn't grow
from it, No, exactly exactly correct.

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00:24:34,720 --> 00:24:38,200
And then if we see when they
cut rates, rates actually go up.

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00:24:40,039 --> 00:24:42,359
Wow, what is that going to
say? Well, you'll get you'll

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00:24:42,599 --> 00:24:45,880
you'll you'll finally get the resteepening of
the yield curve. But it's not the

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00:24:45,960 --> 00:24:51,039
kind that you like. I mean
usually usually what you want to see is

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00:24:52,400 --> 00:24:55,759
that, you know, bond yields
on the short end fall because they're following

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00:24:55,799 --> 00:25:00,240
the said that's gonna happen. But
long term yields come down a lit little

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00:25:00,279 --> 00:25:04,039
bit in response to the recession.
But if that yield curve steepens, because

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00:25:04,279 --> 00:25:08,640
the confidence in the bond market goes
into the crapper. You know you're going

316
00:25:08,720 --> 00:25:12,039
to see we're going to be in
a debt spiral well where they have to

317
00:25:12,119 --> 00:25:18,319
keep issuing debt and no one wants
to buy it unless they interest rates go

318
00:25:18,359 --> 00:25:21,160
to the moon, So that Fed
prints money to keep interest rates down,

319
00:25:21,880 --> 00:25:26,039
which causes more of a deficit and
deficit and you just go into this vicious

320
00:25:26,119 --> 00:25:32,240
death spiral in the bond market.
That's that's a very unfortunately, this is

321
00:25:32,279 --> 00:25:36,640
what which you get when you have
artificial markets. That's a real risk right

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00:25:36,640 --> 00:25:38,480
out there. It's not the it's
not the base case scenario, but it's

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00:25:38,519 --> 00:25:45,000
a definite risk. So the pivot
is on, although maybe not on as

324
00:25:45,079 --> 00:25:48,839
much as Wall Street was hoping,
right, but depends definitely on That's going

325
00:25:48,880 --> 00:25:52,119
to be the big surprise. What
are Powell pivots and and the bond market

326
00:25:52,160 --> 00:25:57,440
doesn't respond in the Pavlolian response that
the reflexive response as always, so keep

327
00:25:57,480 --> 00:26:00,599
an eye out for that. It
might happen. I think it could.

328
00:26:00,640 --> 00:26:04,920
It's going to happen initially. You'll
see that reflexive reaction into the bond market

329
00:26:06,000 --> 00:26:11,279
as the recessionary data manifests. But
boy, it's going to be bad news

330
00:26:11,359 --> 00:26:15,400
if that's not if that doesn't have
a protracted nature to it, watch out

331
00:26:15,400 --> 00:26:18,839
for that. But that's the kind
of thing I monitor here. I have

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00:26:18,880 --> 00:26:22,960
an inflation, deflation and economic cycle
model. It's twenty point model. Ten

333
00:26:22,000 --> 00:26:26,240
components for inflation and inflation, ten
for recession and growth, and that keeps

334
00:26:26,279 --> 00:26:29,160
you on the right side of the
trade. You know, last year I

335
00:26:29,200 --> 00:26:33,319
was predicting that we would have a
recession, but the model signaled after what

336
00:26:33,480 --> 00:26:38,400
Powell did in March that hey,
wait, credit spreads are essen and financial

337
00:26:38,400 --> 00:26:42,680
conditions are actually loose, are actually
loosening instead of tightening. So that kept

338
00:26:42,759 --> 00:26:48,240
me from shorting the market. I'm
watching those indicators very assiduously and I will

339
00:26:48,240 --> 00:26:52,799
react accordingly. And that's your early
warning sign to what's going to happen in

340
00:26:52,839 --> 00:26:59,480
the broader stock market. All right, so, uh, gold, Obviously

341
00:26:59,519 --> 00:27:03,839
it's a nice run up, but
nowhere near where it should be under all

342
00:27:03,880 --> 00:27:08,440
the circumstances. Situation you're talking about
here, Well gold, You know,

343
00:27:08,480 --> 00:27:12,960
gold just reached a record high recently, and it did so under an an

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00:27:14,000 --> 00:27:18,920
interest rate regime that went from virtually
zero percent to five and a quarter percent.

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00:27:18,960 --> 00:27:22,559
That's pretty good. That shows you
how much central bank buying there is

346
00:27:22,599 --> 00:27:30,400
how much the supply demand dynamic has
gone in favor of gold. I have

347
00:27:30,519 --> 00:27:33,000
to wonder what's going to happen when
the confidence in the and this happened.

348
00:27:33,119 --> 00:27:37,640
By the way, gold in an
all time high while the dollar also was

349
00:27:37,680 --> 00:27:41,079
surging for the past couple of years. I mean, we were long a

350
00:27:41,200 --> 00:27:44,720
dollar before we sold it a few
months ago. It was a very good

351
00:27:44,799 --> 00:27:48,440
trade for us. So what's going
to happen when with the gold if the

352
00:27:48,480 --> 00:27:52,559
confidence in the bond market and the
dollar get oubliterated. What do you think

353
00:27:52,599 --> 00:27:56,319
is going to happen to the price
of goal? Oh boy? I mean

354
00:27:56,799 --> 00:28:02,440
gold follows real interest rates, and
if real interest rates falling, then gold

355
00:28:02,519 --> 00:28:06,839
is going to skyrocket. And that
very well could be the case. Okay,

356
00:28:07,400 --> 00:28:10,759
all right, all right, Michael, giving us a lot to chew

357
00:28:10,799 --> 00:28:15,640
over here, And hey, I'm
sticking with the gold silver. We haven't

358
00:28:15,680 --> 00:28:21,279
seen that big, big boost jet
and silver, but I think it's inevitable

359
00:28:21,720 --> 00:28:26,720
down the road. On a note, I guess the best thing we can

360
00:28:26,759 --> 00:28:30,359
do is check in with you in
a couple of months and see what's happening.

361
00:28:30,400 --> 00:28:33,680
All right, I'll look forward to
that, Kerry, all right,

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00:28:33,799 --> 00:28:37,920
just tell us. Best place to
find you connect with you on the web.

363
00:28:37,559 --> 00:28:44,680
So the website is pentoport dot com. Pentchoport dot com. You'll find

364
00:28:44,720 --> 00:28:48,960
a link to the Midweek reality Check. So I record that every Wednesday evening.

365
00:28:48,519 --> 00:28:53,160
It gives me, the gives my
audience, the salients and important and

366
00:28:53,319 --> 00:29:00,160
real takeaway from data that you don't
see on the Carousel of fools financial media.

367
00:29:00,640 --> 00:29:04,000
Yeah, it's fifty dollars. It's
just fifty dollars a year. If

368
00:29:04,039 --> 00:29:07,680
you like the free trial that ends
in five weeks. And if you are

369
00:29:08,039 --> 00:29:11,480
a US citizen, you have one
hundred thousand dollars to invest, I'll invest

370
00:29:11,480 --> 00:29:15,720
the money for you in the I
deck portfolio directly. All right. But

371
00:29:17,440 --> 00:29:22,359
the link to michael site is in
the show notes this interview on Financial Survival

372
00:29:22,400 --> 00:29:26,480
Network dot com. If you've got
a question for Michael myself, Klatcarrie LUTs

373
00:29:26,519 --> 00:29:32,680
dot com is the email address to
use. And when you're on the site,

374
00:29:32,799 --> 00:29:36,119
sign up for the free newsletter.
You'll find it really helpful. We

375
00:29:36,240 --> 00:29:41,839
got thought leaders like Michael and everybody
else here and Michael, in anticipation of

376
00:29:41,000 --> 00:29:48,319
the powellpivot, we're starting a news
site called the inflation cafe. It's inflation

377
00:29:48,519 --> 00:29:55,279
dot cafe because I was at a
undisclosed cafe recently that we all know and

378
00:29:55,359 --> 00:30:00,039
hate, and they gave me half
a cup half a cup of lots and

379
00:30:00,599 --> 00:30:04,839
it was you was a few years
ago, and I said, you guys

380
00:30:04,880 --> 00:30:10,400
don't sell coffee. You're in the
inflation business. And thus was hatched the

381
00:30:10,480 --> 00:30:17,279
inflation cafe. Well, even air
has become more expensive. I'll leave you

382
00:30:17,319 --> 00:30:21,400
at this one thought. You know
what consumers need desperately, And if Powell

383
00:30:21,440 --> 00:30:25,920
had any integrity, he would say, I need to get prices down to

384
00:30:26,039 --> 00:30:29,720
where they where. I need to
get home prices down so that first time

385
00:30:29,799 --> 00:30:36,720
homebriers can buy them. I don't
need to talk about reflating asset bubbles at

386
00:30:36,759 --> 00:30:44,960
an economy when inflation is rising at
fifty percent or more above his acidine two

387
00:30:45,039 --> 00:30:48,920
percent target. Yeah, exactly.
Could not agree more. All right,

388
00:30:48,960 --> 00:30:52,079
Michael, thanks for stopping by.
We'll talk to you in a month or

389
00:30:52,119 --> 00:30:55,599
two. Let's see how this pivot
unfolds. Looking forward to it. Take

390
00:30:55,599 --> 00:31:00,519
care of Kerry. Thanks for listening
to carry Letz's Financial Survival Network, your

391
00:31:00,599 --> 00:31:06,599
solution to today's trying times. For
the latest, go to financial Survivalnetwork dot

392
00:31:06,640 --> 00:31:10,799
com Financial Survival Network now more than
ever,