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I'm frustrated because I'm Trump like everybody
else. You see where this is going.

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You know the Fed can't keep doing
this forever. How the Fed themselves

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are pricing in four rate cuts next
year, but it's just postponing of that

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that is inflating the dollar index and
depressing the metals, and that's what's so

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depressing for all of us. You're
listening to Carrie Letz's Financial Survival Network,

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00:00:23,160 --> 00:00:28,519
where you get valuable information you just
can't find anywhere else to thrive in today's

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00:00:28,559 --> 00:00:34,240
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Survival Network now more than ever. Go

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and get your free newsletter in gift.

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Financial Survival Network now more than ever. And welcome you are watching listening to

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the Financial Survival Network. I'm your
host, Carry Lutts. Hey, We're

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in mid September now, if you
can believe it, price of gold well

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it's been going down, price of
Starbucks, Big Max, and everything else

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around you has been going up.
We want to find out from our good

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friend Greg Hemkey, what is the
deal here and when we can expect to

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see some movement. We are Craig
in the vaulted third quarter where gold is

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seasonally goes up eighty percent of the
time, Is this one of those twenty

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percent of the time that it doesn't
go up? Yeah? I carry yeah,

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I tell you. As you're talking
about that, I'm thinking like of

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dog years, you know, like
every human year is seven dog years,

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or you know, whatever the hell
it is. And H twenty twenty three

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has has extracted about three years of
toll on me. I think maybe another

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one would be remembering the Princess for
Bride, when Wesley's laid out on that

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rack and the six fingered man comes
in and says, I'm sucking life out

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of you. That's what this That's
what this year feels like. It's it's

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extraordinarily frustrating just for me personally,
because you know, I run my annual

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forecast every January and I it's like
the conditions that I've been waiting for just

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keep getting pushed back, and it's
driving me crazy. I thought it,

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really I expected, and you recall
this from our previous discussions this year.

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I thought this year'd be a lot
just kind of flat for the first six

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months and not really go anywhere.
And I have gold was up. I

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don't know a hundred bucks maybe the
first half of the year nineteen eighty five,

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Yeah, I mean had a pretty
good first half and silver too.

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And then I thought, you know, as like previous years of FED pivots

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and you know, turning back toward
rate cuts, it's when it becomes really

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obvious that that's the direction they're going
that that's when the metals have taken off.

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And I thought, by well,
surely by the second half of the

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year that will become obvious because they've
hiked right so quickly, you know,

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the economy would be slowing, and
instead, I mean we've spent the last

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three or four months with you know, all of these manufactured headlines that make

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it appear that everything's great, Like
the jobs report, you know where they

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go in they tell you one number
on the first Friday the month, and

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then they come back on the first
Friday the next month it revised that previous

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one down and then maybe revise it
again the next month to the point where

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nobody nobody cares. I mean back
in June, the July what came out

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in July was a June report,
and they said it was two hundred and

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seven thousand versts and expectation of two
ur and thirty and l was disappointing,

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but I mean not that bad.
By the time they gave us the final

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revision a week ago, two weeks
ago, it's actually a hundred and five.

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They'd come out with one hundred and
five on that day, you know,

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the first Friday in July. God
knows what would happened, but nobody

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cares. You know, the machines
do their thing that oh radar expectations are

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going up and the dollar goes on
and it's just maddening. So, like

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I said, I'm frustrated because I'm
trumble like everybody else. You see where

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this is going. You know,
the FED can't keep doing this forever.

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Hell, the Fed themselves are pricing
in four rate cuts next year. But

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it's just post boning of that that
is inflating the dollar in decks and depressing

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the metals. And that's what's so
depressing for all of us. Hey,

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so let me throw us some numbers
by you here. So in twenty twenty

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two, the cost of a Thanksgiving
feast for ten was sixty four oh five.

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Now, obviously it's not a high
end feast like the Hemkey household of

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the Bux household that but let's just
call it an average. And what's good

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there is your basket is fixed.
It's like the same turkey, the same

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cranberry sauce that I don't eat,
and the same stuffing that I tried not

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to eat, just loaded with carbs. But it was up twenty percent from

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twenty twenty one. It was fifty
three thirty one and then it went up

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to sixty four o five. That's
twenty percent. However, if you look

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at this year's July fourth barbecue,
it was down three percent according to I

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don't know where they were shopping,
mind you, they weren't in Florida,

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but it was down three percent from
sixty nine sixty eight last year to sixty

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seven seventy three. So maybe the
FED has won the battle and they can

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declare victory like Russia in the Ukraine, pick up and go home and start

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doing what they do best, which
is printing more money. But it really

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is a tale of two money supplies. Right on the one hand, interest

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rates going up deflationary. On the
other hand, they keep pumping money into

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a what is obviously a failing banking
system. Yeah, and they will declare

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victory at some point you know,
they'll say, you know that we are

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going to how positive real rates are, you know, and we've gotten fed

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funds well above the inflation rate,
and you know they'll come up with all

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these reasons to print and and monetize
and all this because I'll have to,

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you know, given the debt situation. In the meantime, though, you

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make an extra point because this always
gets lost in the spin and the mope,

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the management of perceptions of the daily
headlines. You know, let use

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that July fourth basket as an example. Carry it's down three percent from twenty

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twenty two, but how much did
it go up from twenty one to twenty

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two? You know, And that's
when you know the political economists, you

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know, and the people that were
an axe to grind, you know,

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to do this spin. They'll come
out and say, oh, look the

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rate of change that was nine per
cents down to three. Oh look it

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is great, but it's not those
price increases from the last two or three

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years. You're not going back to
where you were in twenty twenty and now

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adding three percent, it's just three
percent on top of all that damage that

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was done. And everybody forgets about
that, and so people the individual just

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keeps getting stretched more and more thin. And they're give you one more thing

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about the jobs report, they count
part time jobs as being part of this

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whole sum of new jobs. Well, if you look back, even through

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the Bureau of Labor Statistics owned data, this year, we've lost hundreds of

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thousands of I think even a million
full time jobs and added you know,

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a couple of million part time jobs. Well that's got good. You've got

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people who are you know, maybe
you were making you know, what's say

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average you know, white collars seventy
thousand dollars a year, and you got

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benefits, you got health insurance,
you got a four one K right,

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and you get fired, you get
laid off, you get downsized, you

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know whatever. You still got a
mortgage to make, you know, you

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still got a family, you got
to feed all this kind of stuff.

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And so what do you do.
You take three gain jobs. You know,

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if you can't get rehired, you're
gonna go, you know, work

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at Costco stock and shelves, you
know, and you might drive for Uber

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during the day and whatever. So
you replace one really good job with three

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not so great jobs out of desperation. That's not good. For anyone.

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However, Hey, the media says, look at that, that's a net

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two jobs, we're told while the
Bureau of Labor statistics and so it's really

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there's nothing good or positive about any
of this. And you know what,

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I don't mean to champion that is, oh so therefore you got to own

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gold. But what you have to
do is you have to then look at

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the eventuality of how this all plays
out, you know, and the trillions

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and trillions of debt and the trillions
and trillions now of debt service costs,

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where's that cash going to come from? And you can kind of see how

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this plays out even in the current
structure of how the metals are priced.

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Hey, and all those tech jobs, man, they were getting six figures

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all of them, and there's like
one hundred or two hundred thousand less of

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them. So now they're part of
the gig economy doing uber and you just

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see what's happening in China is exactly
what's going to happen and happening here in

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the US. All of these people
who were middle class, upper middle class,

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now they work for food delivery companies, barely making ends meet. You

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know. Interesting, we're talking pre
call and discussed how premiums on gold are

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way up in Asia compared to visa
v. Europe in the United States.

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You know, China's currency is pretty
much in the Their economy is in full

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blown collapse mode now, and that's
got to have an effect on everything.

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Oh, it certainly does and will
really be a big story as we know

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turn into the fourth court of the
year. Japan too. I mean the

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dollar yen is getting close to one
fifty, and people to understand when you

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see that quoted and it going up
from one forty one forty five to one

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fifty, that means the end is
getting weaker. Looks at the dollars so

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pee people when they say, oh, I don't see it looks like it's

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gone up. No, that means
it getting weaker. And last fall it

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got to one fifty and the Bank
of Japan had to intervene and drive it

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back down. That actually is part
of that turned the dollar indecks. That's

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all part of what got the metals
off the map last fall when gold was

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down at sixteen fifty and silver was
down nineteen twenty. So those two countries

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and their currencies are gonna be a
big story here in the back, you

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know, one hundred days of this
year. But this China thing is interesting

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in the premium. You know,
they set up a Shanghai exchange what ten

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years ago and ultimately you know it's
it's it's all U one and it's convertible

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into essentially buy an extra step into
crude oil. That's sort of totally try

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to get these words out of my
mouth. Physical market. You can't take

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delivery out of China, and they
make delivery into China. Well, you

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know, they're not keen to export
any of their precious metal, and no

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one knows how much they officially owned. I mean, that's all guests work

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too. Remember the deal, it
was last month and there was this build

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up for about sixty days about the
Bricks conference carry you know, and oh

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that Bricks are going to unveil this
new currency and all that kind of stuff,

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and maybe someday they will, I
wasn't Eventually they will have some kind

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of trade settlement system outside of the
dollar, because they've all learned, you

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know that within the US dominated you
know, current structure. You get sideways

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with the US, we'll just kick
you out. And they're like, oh

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yeah, we're going to be getting
sideways with the US. We can't help

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but get sideways with the US.
We better have an alternative. So that's

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that's the direction that's going. But
the interesting thing about what's going on China

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now is this this disparity. This
premium between the price that is being discovered

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and used to trade metal for our
redman b you won in Shanghai and the

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other physical markets in China is about
currently six percent higher than it is for

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New York London, and that's the
highest that it's ever been. There was

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initially in a gap when it first
scarred going ten years ago, and it's

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growing by that. Hey, Carrie, The difference in silver is ten percent.

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That's huge. Day as we record, the Shanghai silver price is about

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twenty five fifty an ounce. And
what's what is it on comex as we

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recorded back twenty two sixty twenty two
seventy something like that. So you think,

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okay, well, what's going on
here? And this is where you

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00:12:35,919 --> 00:12:39,080
have to one is this related?
Is this another step in this bricks thing?

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I don't know, maybe what could
be what could be accomplished by allowing

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that that spread to widen, you
know, and most people here know,

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00:12:52,240 --> 00:12:56,159
you know there's arbit the idea of
behind arbitrash. You know, if you've

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got a price discovered here and a
price discovered there and they're different, well

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00:13:00,200 --> 00:13:03,159
then you sell here and buy there, or you buy here and sell there

175
00:13:03,240 --> 00:13:07,960
and you meet in the middle.
Right. So when you hear there's a

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00:13:07,559 --> 00:13:13,559
let's use a silver for example,
that you can buy silver on the Comax,

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00:13:13,200 --> 00:13:20,240
buy silver on the Comax at twenty
two seventy five, but you can

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sell it in Shanghai at twenty five
seventy five, why isn't that being art?

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00:13:28,039 --> 00:13:31,840
Well, the problem is you're selling
it in Shanghai. You're making a

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00:13:31,960 --> 00:13:37,440
commitment to physically deliver silver that's some
date in the future in Shanghai. Well,

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00:13:37,440 --> 00:13:43,799
there's logistics involved in that, right. And then additionally, why does

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why we try to want that to
happen? Well, that's sure would seem

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00:13:46,679 --> 00:13:56,039
away to attract as much of the
Western physical silver supply above ground as possible.

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You make it feasible logistically, and
you say, oh, yeah,

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00:14:00,720 --> 00:14:03,279
sure, we'll buy as much as
you want to sell us at twenty five

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00:14:03,440 --> 00:14:05,519
seventy five, bring it on over
here. Yeah, And all of a

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00:14:05,559 --> 00:14:11,879
sudden, your Western supplies of a
critical infrastructure battery metal are suddenly getting hoovered

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00:14:11,919 --> 00:14:15,440
up. Same you can again,
you could say the same thing for gold,

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maybe in preparation for stockpiling gold for
wherever they want to take it in

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the years. It comes very interesting
development, something everybody should keep an eye

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00:14:22,679 --> 00:14:26,240
on. Yeah, hey, well, you know, uh, I think

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they're going to have to do something. I think the bricks response here has

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00:14:31,120 --> 00:14:37,320
more to do with their collapsing currencies
than fear of the being excluded from the

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US dollar. All those countries,
with the exception of Saudi Arabia, have

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00:14:43,000 --> 00:14:50,320
had awful economic growth right right years
now since the Great Recession, right right,

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00:14:50,120 --> 00:14:54,720
And so we export our inflation to
them. You know, it's like

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00:14:54,759 --> 00:14:56,440
the old John Connolly thing. You
know, it's our currency, but it's

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00:14:56,440 --> 00:15:03,679
your problem. So all the developing
nations have all their debt and it's dollar

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00:15:03,799 --> 00:15:09,960
denominated, and so as a dollar
strengthens because of what you know, the

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00:15:09,200 --> 00:15:15,399
rate hikes and everything else, all
of those emerging market currencies are weakening and

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00:15:15,559 --> 00:15:20,639
forcing them to buy even more dollars
to certain's all of their dollar based debt,

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00:15:20,919 --> 00:15:22,639
and then that makes the situation even
worse. And all of that could

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00:15:22,679 --> 00:15:26,840
have dramatic implications for the global markets
in the back hundred days of this year

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00:15:26,879 --> 00:15:33,080
too, And so this is it's
a as much as it's aggravating and seemingly

205
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boring. And it's another year where
you know, it's Gold's average a return

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00:15:37,039 --> 00:15:39,600
for the last ten years is about
nine and a half ten percent. So

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run pays to do that again.
And it seems like, you know,

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it's putting me to sleep, and
it's frustrating. There's a lot going on

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that's all part of a fundamental story, and you know it just sets us

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up for continuing interesting years next year
and beyond. Hey, so what about

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what's happening in Argentina they have a
perpetual currency collapse? Is that what we

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have to look forward to? Well, you know, Kerry, you know,

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I remember from when when we first
met ten years ago, back then,

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you know, my my site,
when it was just getting started,

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we were writing about and we still
write about the end of the great King

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Gene experiment, this debt based monetary
system which works fine for a while,

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but then you know, just the
exponential math of it at the end is

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00:16:26,200 --> 00:16:30,480
what does you in You can't print
it fast enough and grow fast enough in

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00:16:30,519 --> 00:16:37,919
your economy to keep the plate spinning. The US is entering into that phase

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now, it seems finally, but
you got other places, like you know,

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Argentina is devaluing their currency at the
rate of ten percent per month.

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How do you how do you even
have a functioning economy in that you know

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where you're you're demanding. I mean
a thing feeds on itself. Right,

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00:16:56,559 --> 00:17:02,200
if you're selling goods in Argentina and
the manufacturing things or selling cars or whatever

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00:17:02,240 --> 00:17:07,559
in the Argentinian currency, I can't
remember what it's called. And you're transacting

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in that knowing that ten percent,
you know just a month from now that

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00:17:12,319 --> 00:17:15,559
your money's gonna get that what you
got for that, it's going to do

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00:17:15,640 --> 00:17:18,200
value by ten percent. Then you're
going to ask for a ten percent even

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00:17:18,200 --> 00:17:23,400
more. Now, right begins to
go crazy. I will watch the video

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00:17:23,480 --> 00:17:27,920
from Tucker Carlson last night on his
Twitter account on his Twitter feed, and

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00:17:27,960 --> 00:17:36,079
the term that came to me was
bymar Argentina because very much of bymar Germany

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00:17:36,119 --> 00:17:40,880
type thing that's going on there,
and I like it's an it's it would

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00:17:40,880 --> 00:17:45,039
be extreme to say that's where we
are now in the US because we're not.

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But you know, if we get
to fifty trillion dollars in national debt,

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you know, by the end of
this decade, and on fifty trillion

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00:17:55,880 --> 00:18:00,240
dollars you're paying five percent interest on
average, just say five. That's new

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00:18:00,440 --> 00:18:07,119
and a half trillion dollars a year
needed just a service the debt and so

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that, you know, the currency
just devalues so quickly and that again.

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00:18:11,319 --> 00:18:15,839
So yeah, gold boring, frustrating, driving me crazy, and the bank's

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00:18:15,880 --> 00:18:18,079
doing this, and the short squeezes
of that and everything else. The bean

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00:18:18,160 --> 00:18:22,400
time. Man, I just there's
no nothing better that I can be doing

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00:18:22,440 --> 00:18:26,319
than just continuing to add physical gold
and silver to my stack and just letting

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00:18:26,359 --> 00:18:30,759
this all play out. As you
were saying that, a song came to

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00:18:30,839 --> 00:18:37,279
mind from the hit play. It
was a Broadway Tony Award winning play,

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00:18:37,640 --> 00:18:44,400
Well don't Cry for Me Argentina,
and then sing it. I'm not going

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00:18:44,440 --> 00:18:48,240
to sing it, but it's We'll
put a link into the YouTube video.

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00:18:48,319 --> 00:18:53,000
Let me see if I can find
it here. Tucker Carlson thing, Yeah,

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00:18:53,200 --> 00:18:56,319
look, get up on it.
You can find it. Carry on

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00:18:56,359 --> 00:18:59,920
this and anybody can go just go
to on his on his Twitter, pay

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00:19:00,200 --> 00:19:03,680
his ex page, yeah, but
so he comes up with a video what

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00:19:03,799 --> 00:19:07,279
once every couple of days or so. Yeah, sure, and we'll put

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00:19:07,359 --> 00:19:11,240
up a link to it, and
we'll put up a link to the song

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00:19:11,640 --> 00:19:15,200
Don't Cry for New York, you
know, donn Award. I found it.

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00:19:15,319 --> 00:19:19,359
Hold it here quick, let's see
if it comes up. I am

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00:19:19,680 --> 00:19:32,039
Vita Ferguson. Yeah. Well and
again, and this has been, this

256
00:19:32,119 --> 00:19:33,480
has been. This is always the
endgame, right, and you can go

257
00:19:33,599 --> 00:19:37,759
all the way back. I'm trying
to remember the guy's name, like Denysius

258
00:19:37,759 --> 00:19:44,559
of Syracuse or whatever the dude's name
was, who was the Greek tyrant in

259
00:19:44,720 --> 00:19:49,039
like the fourth century BC, who
was, as at least in the historical

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00:19:49,119 --> 00:19:55,640
record, the first cat to disfigure
out that if I call in all the

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00:19:55,680 --> 00:20:00,559
existing money and then issue just twice
as much to everybody. After we do

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that, then all of a sudden, there's all this extra money that we

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00:20:02,759 --> 00:20:04,640
can then pay our debts for all
our wars and all this kind of stuff.

264
00:20:06,079 --> 00:20:08,640
And man, this has been going
on for twenty four twenty five centuries

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00:20:08,640 --> 00:20:15,319
ever since. Oh yeah, let's
not forget the Napoleon sold off Louisiana to

266
00:20:15,599 --> 00:20:22,480
pay for the wars, right,
and so you know, we'll see what

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00:20:22,559 --> 00:20:26,359
Russia is going to be selling off. You know, it's so interesting the

268
00:20:26,440 --> 00:20:32,680
Ukraine Russian War because China now is
making its move on Russian real estate.

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00:20:33,880 --> 00:20:38,000
And you can see, like Siberia
they've wanted to colonize it for years,

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00:20:38,039 --> 00:20:44,519
but they were afraid of war with
Russia. I think chunks of Siberia are

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00:20:44,519 --> 00:20:48,400
going to get fried off. Yeah, you know, to keep the war

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00:20:48,519 --> 00:20:53,720
going. They took over part of
an island that was disputed Russian island recently,

273
00:20:55,400 --> 00:21:00,279
so you know everybody's the knives are
out. They want to of a

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00:21:00,359 --> 00:21:06,000
Prussia and sell it off to the
highest bidders or the best connected bidders.

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00:21:06,119 --> 00:21:11,400
Right, And you make me think
of there's a stock I own, so

276
00:21:11,880 --> 00:21:18,000
like CNBC, the speaker owns this
equity, so he's pumping it. But

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00:21:18,319 --> 00:21:23,240
Eric Sprott told me about it called
Erdine Resources in Mongolia. Yeah, I

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00:21:23,319 --> 00:21:26,799
know that's a rhodium producer. If
I'm at and they make no, it's

279
00:21:26,839 --> 00:21:33,680
it's gold. Now I'm some as
Eric would say, he's got some pretty

280
00:21:33,680 --> 00:21:38,160
exciting products. But it's his little
company in Fringing Mongolia. But if you

281
00:21:38,279 --> 00:21:44,240
think that, and so I own
some because if you think that is kind

282
00:21:44,279 --> 00:21:48,720
of an eventuality over there, because
who knows, you know, the Chinese,

283
00:21:48,880 --> 00:21:52,279
that's what you mentioned. Alluded to
this earlier with the yuan. They've

284
00:21:52,319 --> 00:21:56,440
got a lot of printing that they
have to do as well. Yeah,

285
00:21:56,480 --> 00:22:03,160
that makes that puts us to shame
with you know, their deflationary forces.

286
00:22:03,200 --> 00:22:07,279
And you know, whether it was
what's a new one country garden or whatever

287
00:22:07,359 --> 00:22:14,519
is the r he had ever grande
a yeah, real estate company and China

288
00:22:14,640 --> 00:22:18,920
as well as the banks. Every
single bank in China is insolvent now.

289
00:22:18,039 --> 00:22:22,160
Yeah, so the currency controls in
place, so you can't take out more

290
00:22:22,200 --> 00:22:27,599
than x amount per day withdrawals there
you go, so a carrie in the

291
00:22:27,680 --> 00:22:32,160
end of the day. It gets
back to why I started this sight in

292
00:22:32,200 --> 00:22:33,799
the first place. We talked about
medals and it's you know, it's a

293
00:22:33,920 --> 00:22:38,559
there's never a shortage of stuff to
talk about there. But like I said,

294
00:22:38,559 --> 00:22:44,400
going back to fourth century BC,
this is how these things play out,

295
00:22:45,400 --> 00:22:51,599
and the the world has been untethered
now for fifty two years, unhinged,

296
00:22:51,640 --> 00:22:56,200
I would say, print, unhinged, printed, Fiat backed by nothing,

297
00:22:56,759 --> 00:23:02,880
right, military power, I guess
you could say really nothing and in

298
00:23:02,920 --> 00:23:06,599
the end, you end up overprinting
because that's the only way that can be

299
00:23:06,680 --> 00:23:11,240
sustained for a certain amount of time. And then you lose complete confidence in

300
00:23:11,240 --> 00:23:15,039
the currency. And the only way
you can regain confidence is to back it

301
00:23:15,160 --> 00:23:19,440
with something. And that's what the
bricks are preparing. The hell that's probably

302
00:23:19,480 --> 00:23:22,240
you know, a country like Argentina. I don't think they have any gold

303
00:23:22,279 --> 00:23:25,759
reserves, but that's a direction that
they have to go to. You've got

304
00:23:25,759 --> 00:23:30,079
to re establish confidence in your in
your currency, and so when all this

305
00:23:30,119 --> 00:23:34,359
plays out, that's the direction of
the world ships. And that's why me

306
00:23:34,559 --> 00:23:38,440
and almost I would imagine everybody at
my side, that's why we all just

307
00:23:40,319 --> 00:23:45,039
keep adding to our stacks in preparation
for that inevitability. Yeah. Well,

308
00:23:45,079 --> 00:23:49,640
the one thing you know is that
backing the currencies again with something gold,

309
00:23:49,720 --> 00:23:55,480
whatever it might be, whatever,
that is the endgame, because at means

310
00:23:55,519 --> 00:24:00,279
giving up political power, right,
the power to go right checks to your

311
00:24:00,319 --> 00:24:03,839
friends and prosecute and persecute your enemies
rights. If you don't have the money

312
00:24:03,839 --> 00:24:07,839
to do it, you can't do
it. Right. Did you see the

313
00:24:07,880 --> 00:24:12,720
thing yesterday about Folkhanas, Right,
Yeah, she's all under must Yeah,

314
00:24:12,759 --> 00:24:15,359
and now she's got it. What
does she work? Two hundred million dollars

315
00:24:15,440 --> 00:24:22,759
or something after Bishocahantas is worth two
hundred mill I saw it yesterday. Yeah,

316
00:24:22,839 --> 00:24:29,680
that's pretty a Native American from Oklahoma, right. You know, you

317
00:24:29,680 --> 00:24:32,559
would think she'd, you know,
she'd donate some to the res, you

318
00:24:32,559 --> 00:24:36,359
know, and build some community centers
and stuff like that. I would think

319
00:24:36,400 --> 00:24:41,359
she would. You know, she's
in favor of donating everybody else's money voluntarily,

320
00:24:41,839 --> 00:24:45,000
she should be donating some of her
own. Right then the goal of

321
00:24:45,079 --> 00:24:48,720
politicians probably not any area to do
it. But but your point is right.

322
00:24:48,799 --> 00:24:52,559
I mean, as long as they
can buy power through graft and corruption,

323
00:24:52,559 --> 00:24:56,200
they're going to keep doing it.
But in the end, again,

324
00:24:56,240 --> 00:25:02,119
that pendulum swings all the way over
here as far I can go. Had

325
00:25:02,160 --> 00:25:07,119
a child a blade on it,
and it's got a blade, it's got

326
00:25:07,119 --> 00:25:10,279
a blade on the bottom, and
it's not going to spare anybody. So

327
00:25:10,839 --> 00:25:15,519
hey, so you gotta go over
to TF Metals report. Craig is running

328
00:25:15,519 --> 00:25:18,880
a special. The promo code you
won't believe what it is. I didn't

329
00:25:18,920 --> 00:25:26,720
golden and hey, you'll get your
first month subscription for a little bit less

330
00:25:26,759 --> 00:25:30,200
than the price of the current average
price of the big Mac. We're talking

331
00:25:30,319 --> 00:25:37,000
just a sandwich, not the happy
meal, not the value meal, but

332
00:25:37,319 --> 00:25:41,160
just the price of a big Mac. You'll be saving. So you know,

333
00:25:41,279 --> 00:25:44,000
hey, by the way, Craig, I know you caught this ad

334
00:25:44,079 --> 00:25:48,799
on zero Hedge because you're a prolific
enthusiastic reader as am I. But the

335
00:25:48,839 --> 00:25:53,440
new gold rush in the United States
is fat. Did you catch that?

336
00:25:55,160 --> 00:26:03,279
No. Basically, big pharma's pursuit
of anti obesity drugs is the new gold

337
00:26:03,400 --> 00:26:07,880
rush. So we have the ultimate
paired trade. So Eli, Lily has

338
00:26:08,000 --> 00:26:14,599
this drug called Munjaro, which is
more effective than bariatric surgery, or at

339
00:26:14,680 --> 00:26:21,400
least as effective. Yeah, well
to twenty thousand per year. And their

340
00:26:21,440 --> 00:26:27,240
market cap, well, the share
of Lily back in twenty twenty was going

341
00:26:27,319 --> 00:26:33,200
for a hundred bucks. It's now
at six hundred dollars. The number two

342
00:26:33,279 --> 00:26:40,319
drug is put up by It's not
Novartist, it's Nova something. And their

343
00:26:40,359 --> 00:26:45,319
market cap has gone over four hundred
billion. So you know, the obesity

344
00:26:45,359 --> 00:26:52,400
epidemic is making trillionaires. We're going
to see Lily will be the first trillion

345
00:26:52,440 --> 00:26:57,359
dollar big farm a company. Geez. So the paired trade is by Lily

346
00:26:59,000 --> 00:27:03,359
Sell McDonald. Hey, I like
it. I like it. I like

347
00:27:03,519 --> 00:27:08,480
it. Well, you're right,
that's that's the shrewd businessman that I am.

348
00:27:08,519 --> 00:27:11,960
I wrote it. I hadn't done
this for months, and so I

349
00:27:11,000 --> 00:27:15,119
thought, well, maybe because you
know, this is going to get interesting.

350
00:27:15,279 --> 00:27:18,839
I mean the next few months.
I mean, the recession is inevitable.

351
00:27:18,079 --> 00:27:21,920
This hard you know, soft landing, buzz the field crap. I

352
00:27:22,000 --> 00:27:25,839
hear it every time. I've been
hearing it for thirty five years since i've

353
00:27:25,880 --> 00:27:27,680
been you know, got out of
college and became a stockbroker. You know,

354
00:27:27,839 --> 00:27:33,039
right at the end, right before
the recession, everybody starts talking about

355
00:27:33,079 --> 00:27:36,400
soft land. Well, I can't
believe we're hanging in there because of the

356
00:27:36,440 --> 00:27:41,319
lagging effects. You gotta lead it
all play out, brother, Kerry.

357
00:27:41,359 --> 00:27:44,359
We didn't even talk about commercial banking. You know, in the scene,

358
00:27:44,599 --> 00:27:48,279
an officer surveys about how tight credit's
gonna get and it's gonna put more more

359
00:27:48,279 --> 00:27:51,839
people out of work. But anyway, more of the story is, this

360
00:27:51,920 --> 00:27:53,440
is gonna get interesting. So I
thought, wow, for fun, if

361
00:27:53,440 --> 00:27:57,359
you want to join my site,
you sign up, you go to you

362
00:27:57,480 --> 00:28:02,119
buy a monthly subscription, You put
in a coupon code of Gold, that's

363
00:28:02,160 --> 00:28:07,440
creative Gold, and it will cost
you five dollars for your first month.

364
00:28:07,599 --> 00:28:10,119
That's where you said it's less than
a big Mac. And now if you

365
00:28:10,160 --> 00:28:12,759
stick around, it's going to cost
you the whole value meal. It's gonna

366
00:28:12,799 --> 00:28:19,480
cost you fifteen until you handsome all
right, big bucks, right, I

367
00:28:19,559 --> 00:28:22,839
know, And you can tell I'm
looking at this extravagant studio I'm sitting in

368
00:28:22,920 --> 00:28:26,920
and the extravagant productions I put out. This is the lights on. Yeah,

369
00:28:27,279 --> 00:28:32,240
the lights on. Remember, if
there's a soft landing, it's because

370
00:28:32,839 --> 00:28:37,599
it's landing on the backs of the
middle class, right right, that's the

371
00:28:37,160 --> 00:28:44,359
ending for the wealthy, right for
the rich getting richer. So anyway,

372
00:28:44,119 --> 00:28:47,720
if you want to, I think
people can learn a lot, not necessarily

373
00:28:47,720 --> 00:28:49,039
even for me, but from the
other people on my side. So if

374
00:28:49,039 --> 00:28:55,519
you want to learn something, spend
five blocks five blocks and side up,

375
00:28:55,640 --> 00:28:57,680
use that code gold, and then
if you don't like it, quit,

376
00:28:59,279 --> 00:29:04,319
But I don't think you will.
Good deal. High retention rate damn near

377
00:29:04,759 --> 00:29:10,960
percent. Very few people once they
sign up actually cancel. He got a

378
00:29:11,039 --> 00:29:15,319
question for Craig myself. Shoot me
an email kl at Carlets dot com right

379
00:29:15,400 --> 00:29:18,000
you YouTube comments down below, Craig, we'll talk to you again. Sin.

380
00:29:18,039 --> 00:29:21,759
I want to talk to you in
a few weeks about the banking crisis

381
00:29:22,279 --> 00:29:26,559
as the effects become more obvious.
We didn't even touch upon the fact that

382
00:29:26,640 --> 00:29:34,160
the emergency lending facility discount window every
speek goes higher and hired records. But

383
00:29:34,279 --> 00:29:38,519
hey, there's nothing wrong man,
soft landing. Everything's fine, right,

384
00:29:38,880 --> 00:29:42,680
nothing can go wrong. Good,
let's talk again, because that's a whole

385
00:29:42,920 --> 00:29:47,079
that's a whole podcast right there.
Definitely all right, we'll catch you in

386
00:29:47,119 --> 00:29:49,000
a few weeks. You'd be well. Thanks for coming on. You got

387
00:29:49,000 --> 00:29:55,000
it, brother, Thanks for listening
to carry Lets's Financial Survival Network, your

388
00:29:55,079 --> 00:30:00,799
solution to today's trying times. For
the latest, go to financial service Vivalnetwork

389
00:30:00,880 --> 00:30:04,279
dot com. Financial Survival Network now
more than ever