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Speaker 1: So they're basically trying USA ideas, trying to institute a

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system of censorship around the world that censors in the

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same way as the US once did and Europe does now,

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you know. So it's back to authoritarianism. Once they get

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censorship set up everywhere, it's basically over.

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Speaker 2: You're listening to Carrie Lutz's Financial Survival Network, where you

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get valuable information you just can't find anywhere else to

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thrive in today's trying times. You need the Financial Survival

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than.

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Speaker 3: Ever, and welcome.

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Speaker 4: You are listening to and watching the Financial Survival Network.

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I'm your host, Carrie Lutz. John Rabino's with us, and

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make sure you go check out his substack Rabino dot

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substack dot com. Questions comments k l at Carrie lets

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dot com. John has been a while, man, I don't

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know that we've talked since Trump's inauguration. We definitely haven't

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the past three weeks. But my goodness, did you ever

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see anything like this?

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Speaker 3: Hey?

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Speaker 1: Carrie? Yeah, we need to do like a two or

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three hour show today, you know, some kind of Joe

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Rogan length thing, so we can cover all the stuff

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that's happened. But yes, a ton of stuff is happening.

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But a good place to start might be with how

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the deep state is being exposed. You know, Trump has

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Elon Musk and the rest of the DOSE guys out

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there looking into this stuff, and what they're finding is astounding.

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So let me start just a little further back and

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work our way up to US AID ADS because it's

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just crazy. So basically, what has happened we're now finding

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out is that the deep state, both Republican and Democrat,

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is totally bipartisan. They've set up this ecosystem of government

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funded entities that is basically just a slush fund for

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useless political people. So basically, you know, in today's world,

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in today's US, you can get a degree from say

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Georgetown or someplace, and then you go be a congressional

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aid and then you go to a think tank, and

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then you go to some NGO that does you know,

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hands money to dictators in some other part of the country.

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And then you come back and you work for a

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you know, K Street lobbyist, and then maybe you run

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for Congress and it just goes and then maybe you

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go work for a Ivy League university, and it's all

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within this ecosystem where you do basically nothing. You just

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hang out and you vote for the right people and

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you donate to the right people, and you accomplish basically

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nothing that's useful in any way, but the government funds

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it all. So you and the tens of thousands of

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people like you end up making a ton of money

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for an entire career. And it's this cushy, nice life

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that they've set up for themselves. And that's all being

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exposed now. And maybe one of the biggest entities that

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participates in this is USAID, which is this basically, you know,

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the the safe arm of the CIA. In other words,

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they do stuff that the CIA wouldn't be caught dead doing,

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but they do it in a way that is easy

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to hide. And so they're out there basically funding the

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mainstream media. You know, they hand out tens of millions

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of dollars to the BBC and this thing called Politico. Yes,

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so they went in and they basically bought tens of

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millions of dollars worth of subscriptions to Politico, and that's

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how they finance, political, So all of these things are

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out there just kind of self perpetuating a system, okay,

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and a lot of what USAID does is overthrow other

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governments or in other ways suborn other countries and basically

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just keep them under the control of the US Empire.

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And so Trump is basically shut that thing down now.

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You know, He's laid off ninety seven percent of the

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people that are working for it and just shut down

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all the funds, transfers to legacy media outlets, and it's

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got the deep state power free. I mean, they are

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absolutely terrified that this might actually work, because there's some

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question about whether it's constitutional for the executive branch to

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shut down an entity that is funded by Congress. You know,

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we'll find that out, but so far, Trumplin just did it.

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And so this thing that was basically just the hidden

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evil arm of the US Empire and you know, stomping

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around the world doing all kinds of crazy stuff, is

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basically done now. And that is just phenomenal. You know,

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that's a great thing that's happening. So and that and

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among a lot of other things, you know, the government

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is under Trump, they're operating with a flood the Zone

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strategy where they're they're coming up with five different things

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that outrage the deep state every day, and so the

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legacy media can't cover all that stuff, or that they

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try to cover today's stuff, that means they have to

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let yesterday's stuff slide. And so so much of this

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stuff is basically for that reason, under the radar. You know,

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the the Trump administration is publicizing what they want to

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be publicized and just letting the other stuff be hidden

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because they're flooding the zone with everything. So so far,

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you know, so far is so good, and also so

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far so entertaining. This is just hilarious to watch. And

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you know, a good place to go to to see

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what the deep state is thinking about all this is

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the New York Times online arm because they're pretty smart people.

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You know, The New York Times is the one of

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the pinnacles of a mainstream media career path. So they

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get smart people who can articulate this stuff really well.

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And so they sit around and they talk about whether

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it's over for the Democrat Party and what they should

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do about all this stuff, and it's hilarious. They're they're

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so baffled.

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Speaker 3: But.

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Speaker 4: They got tens of millions of dollars from the USA ideals.

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Speaker 1: Yes they did. They're on the gett a donor of it.

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Speaker 4: They weren't supporting my website, John they do? Were they

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behind dollar collapse?

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Speaker 1: Okay? Here here's here's a here's a possibility for the

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way this goes. Is it some court tells Trump that

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he is not allowed to shut down USAID. So then

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they say, well, okay, we'll just convert it to a

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pro MAGA slush fund, ben and maybe they will be

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you might get a check from those guys pretty soon.

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Speaker 3: Care that would be nice?

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Speaker 1: I went to, well, that would be poetic justice. You know.

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You say, well, you can't stop USAIDA, and Trump says, okay,

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well we'll just co opt it. Then, you know, we'll

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just use it for our own purposes.

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Speaker 3: That it's not really what he wants to do.

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Speaker 4: They said they're going to fire out of or i

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should say, out of thirteen thousand employees. They're going to

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keep three hundred of them, and they're folding it into

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the State Department. Now, USAID was always a CIA cutout

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projecting soft powers. So yeah, well we'll get hot, we'll

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get running water going in your country. And you agree

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that you'll buy into the system and you'll help US

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spy and whatever else. You know, that's a whole They

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don't just give people stuff, give countries stuff. They have

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to agree to be our partners in quotes.

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Speaker 1: Right, and among the biggest things they have to agree

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to these countries have to agree to censor dissenting voices.

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So they're basically trying usaidea is trying to institute a

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system of censorship around the world that sensors in the

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same way as the US once did and Europe does now,

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you know, So it's back to authoritarianism. Once they get

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censorship set up everywhere, it's basically over right, because how

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do you stop up or a government that is able

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to keep you from speaking. And you know, that's what

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we were so close to. We were inches away from

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this stuff happening. And you know, with open borders, we

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were going to be a one party state with four

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more years, and there would have been enough illegal immigrants

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in swing states to throw every election to the Democrats.

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So we were right there. You know, one lost election.

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If Kamala Harris was president right now, democracy around the world,

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not just in the US, would be over amazing. How

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close we we got.

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Speaker 4: And they were also putting in billions of dollars funding

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relief efforts for the so called newcomers coming into the

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country illegally, hundreds of millions of dollars to something called

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the Lutheran Immigration Services. I mean, it's staggering the extent

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of the corruption. And yeah, they did some things that

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did food relief, vaccines. I mean, I don't know what

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kind of vaccines they were, whether RFK would approve of

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them or not.

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Speaker 1: Carrie, could I step in right there. I just read

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a thing that said there's this huge surplus of those

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m m r NA vaccines and so that's so they're

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using it as part of foreign aid. Now they're sending

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all those vaccines to other countries in order to vaccinate

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children because that way they can buy them from Pfizer

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and the other big pharma companies, who then don't lose

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money on the vaccines that you and I won't take.

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That's not really funny. I'm sorry, I don't. I shouldn't

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laugh about that, because it's ruining the lives of children

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all around the world.

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Speaker 3: That's awful. Well, you know, the the illegal immigrants that

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are here, they're they're committing crimes that Americans won't commit, right.

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Speaker 1: Yeah, who's going to do it if not the immigrants?

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Speaker 3: Right or that.

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Speaker 4: Yeah, there's some legitimate programs in there, but it was

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a thing initially. JFK created it by executive order and

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it was there to project soft power, meaning you know,

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dollar diplomacy, the velvet fist, if you will. And now

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it's morphed into like a gravy train for for the

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Dems that you know, where dollars go to die.

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Speaker 1: You know, we'll see you know, we can't just blame

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the Dems on this because Republicans are part of the

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gravy train too. And USAID. You know, after you're done

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being a think tank guy or a congressional aid or

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something like that, you just go to one of these

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NGOs that are financed by USAID and that pays your salary.

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So I mean, you can literally get through an entire

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lifetime bouncing from one of these entities to another, never

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accomplish a positive thing in your life, retire with a

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ton of money, and everybody thinks you did important stuff.

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And that is the ecosystem they created. It's astounding, and

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you know, to see these guys get fired on mass

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poetic justice of the highest order. I mean, this is

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just amazing. And so what podcasts now have to do

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is start following these people after they get fired to

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see where they end up, because I think their lives

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are going to be a little less cushy than they were.

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Speaker 4: A subsidized podcast, no doubt. You know, Bill Crystal, a

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big neocon of his NGO, got paid like eight million

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dollars that we know of.

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Speaker 3: There's a lot more coming.

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Speaker 4: And you know, he's a pro democracy group. It's a

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pro democracy ngo that Crystal sits on, and you know,

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got to eight million Politico. You know, thirty four million

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New York Times is just it's staggering in the scope

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of it.

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Speaker 3: You know, it's real.

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Speaker 1: Yeah, it is absolutely astounding. And you know, we kind

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of sort of knew this was happening, but we didn't

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know that it was happening on this scale. I mean,

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this is new information for most people.

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Speaker 4: Well, yeah, we knew the We knew the extent of it,

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but we didn't know the specifics.

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Speaker 3: We knew the macro.

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Speaker 4: We knew they had to be stealing a fortune because

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the budget, which was already inflated in twenty nineteen went

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up a trillion and a half dollars thirty a third,

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and certainly they aren't doing anything you know, beneficial for

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that trillion and a half more dollars, So it's basically

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all being stolen. Now they've gone into h you know,

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to Medicare and Medicaid, found one hundred billion dollars off

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the top of misspending. I assume that includes fraud, improper payments,

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et cetera, et cetera. Wait till they get to the Pentagon, John,

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Can you imagine that's going to be an interesting one

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because you know, the Republicans are not going to like

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that part of it.

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Speaker 1: They're liking the whole USAI do thing for the most

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part because it's most the left wing entity right now.

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But when they start getting into the Pentagon, that's that's

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when we find out how serious these guys are about

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actually finding the truth. And you know, here's hoping the

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Pentagon has never passed an audit. There are tens of

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trillions of dollars that have just gone missing, and well,

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I mean officially missing.

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Speaker 3: We know where they are.

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Speaker 1: They're in dictators Swiss bank accounts and the general's second

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houses and things like that it's all been spent by

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the guys who siphoned it off along the way. And

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you know what, if we can shine some light on that,

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that would be amazing. But I don't want to get

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too excited about this because there are barriers in the

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way of a lot of this stuff. But you know,

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so far it's been hilarious.

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Speaker 4: The firewall and the preening by the left of you know,

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they haven't mentioned nobody. No rational citizen can be in

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favor of money just being flushed down the toilet, right,

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nobody can be. But these guys are going out there

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defending it, never saying that other exposing ways, just that

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Elon Musk who voted for him, he's unappointed. He's running

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the country all this stuff. And in the meantime, they

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keep dropping more and more and more fraud. And it's

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going to be like this in every agency, Like I

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know for sure when they get the HUD, there's going

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to be billions because after the foreclosure crisis, there were

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all these lawsuits brought against the banks and they were

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all settled, and they all involved payments to NGOs along

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with a lump sum payment to the government. So there's

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billions of dollars that have been floating around HUD getting

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stolen basically, and.

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Speaker 3: You pretty much go.

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Speaker 4: Also, it's like the people in Treasury when they went there,

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they were told they were told never to reject the payment.

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Every payment that came in they had to pay. Man,

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had I known that, I would have been sending my

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bills into the treasury years ago. I'm thinking about doing

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it now. But those Doge guys might have might have

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cut it off for me.

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Speaker 1: Yeah, yeah, you might have missed your chance at this

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gravy is rand here, Harry.

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Speaker 3: But you never know.

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Speaker 1: I mean that the scenario where the the Trump administration

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doesn't kill but instead co ops USA I D is

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still possible. And if that's the case, you would be

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on the list. So don't give up. You know you

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could get your eight million dollars. Okay, I'm willing.

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Speaker 3: To try it. You know, why not? What do I

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got to lose?

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Speaker 4: Certainly the benefits have just not the benefits, the so

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called benefits to the country just have not been there.

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Speaker 3: But that's Doge for you.

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Speaker 4: It's amazing they're using AI, they get into the system

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and these these nobody's ever audited this stuff like they

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could to allocate x amount in Congress, and then the

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Treasury could pay out five times more and nobody would

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ever know.

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Speaker 1: Yeah, and you know, the big risk they took before

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they started all this stuff was was having Elon Musk

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hang out with Trump at mar A Lago. Yeah, because

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that was a very coherent target right there. You know

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that that building could have blown up at any time

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that they were in there together.

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Speaker 3: Oh, they never do that, We know that.

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Speaker 1: I think that. You know, they were probably using Elon

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Musk's private security to protect the buildings and that's that's

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why it didn't blow up.

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Speaker 4: But anyhow, Yeah, laser, drone killers and all that kind

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of stuff, and you know, it just shows how incompetent

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they are. They tried to take them out twice and

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you know, they just couldn't do it. So now they're stuck.

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And these guys we've been trusting to run the world, right.

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Speaker 1: I wouldn't say they're stuck. I would say they're is

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trying some new way to do it and something will

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happen pretty soon. The idea that this is going to

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be peaceful in its current form, in other words, flooding

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the zone for the next four years, not a chance

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something serious is going to happen in an attempt to

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stop what is now happening. And so you know, we

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should be ready for that because that's the world could

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change in a heartbeat almost and yeah, yeah, it came

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really close to changing in a heartbeat. And you know,

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one of the things that is keeping Trump going is

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that JD. Vance would probably continue the Trumpian revolution smart

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and yeah, yeah, yeah. And he's got a lot of

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energy too, you know, he would he wouldn't slack off.

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So it's not clear how much you would gain by

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taking out Trump because Jdvance is there. And hopefully those

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three guys, Vance and Musk and Trump are never in

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the same building. Definitely never in the same car. Okay,

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hopefully they know that.

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Speaker 4: Not eating at the same McDonald's, right, yeah, yeah, And

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so so there's light.

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Speaker 3: It's better stay away from it.

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Speaker 1: Looks like your boy RFK has a chance at HHS. Now.

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You know, it's going to be a very close vote,

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but it's possible.

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Speaker 4: Now tiebreaker, it'll be a tiebreaker, you know, I think

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he's going to make it. And Tulsi and Cash Patel,

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they tied up Cash Pattel for a week. Cash Battel

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is going to make it, which means that he got

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his entire team in and really, uh, it's it becomes

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an impossible task to turn this back the tide. You know,

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people aren't stupid, and even if they aren't stupid, they

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still they still understand the grift that's going on. It's

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become like a massive grift. We always knew that government

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was a grift. We just had no idea. Can you

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imagine if they check out the payments to al Sharp,

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then how much money they'll find?

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Speaker 1: Yeah, I mean they're they're going to find all this

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stuff and well, you know, the cabinet as it's evolving

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is I don't know, I don't I don't want to

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say almost too good to be true. That's that's my

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first impression. But you know, these guys, there are experience

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issues and stuff with some of these guys, but it's

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going to be the most entertaining capet for sure that

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has ever been. And have you seen Trump's new press secretary?

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Speaker 3: Yeah, she is a fault blog.

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Speaker 1: She is twenty six years old and hyper articulate, and

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she's just shutting these guys. You know, I thought Kaylie Mcananny,

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the Trump had for a while ye. Yeah. I thought

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she was the best that would ever and I was

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surprised he didn't just bring her back. But this new

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one is also better than the Kayla mcananny, I think

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in a lot of ways. So, you know, having somebody

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like that as a spokesperson is riceless. It's invaluable to

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be able just to shut down the DC press core

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with facts and so yeah yeah, and so the you know,

356
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the press corps never gets a gotcha moment and they

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never get any kind of a SoundBite that they can

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use because everything she's saying totally contradicts everything they believe.

359
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So yeah, she's good. So this is impressive so far.

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Frum definitely hit the ground running.

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Speaker 4: And look at all the people from the press who

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are like basically going bye bye. We already saw it

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started before, but now they got rid of Jim Acosta,

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and there's a whole bunch of other guys from the

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press that are just you can see, the view is

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not long for this world. And I don't know how

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long long Joe and Nika are going to be around

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because basically a company that owns them has spun them off,

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and there's no way that MSNBC can make money.

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Speaker 3: Maybe you were bed as well.

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Speaker 1: Did you hear the details of the spinoff? They don't

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get the MSNBC name and they don't get any reporting

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help from NBC, So they're a no they're a no

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name new podcast just entering the market right now with

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people that have really small audiences. So I think MSNBC

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will not be in the top one hundred of whatever

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they're going to be, you know, cable channels or podcasts,

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series or whatever, you know, whatever form they take, they're

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going to be small. And those guys are going to

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be making you know, I mean, what do you make

381
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if you're the in the one hundred and tenth biggest

382
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podcast and there's fifty of you on the same podcast,

383
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you you don't make very serious Milliam work. Yeah, maybe

384
00:21:48,440 --> 00:21:51,480
you might have to think of it as a problem. Yeah,

385
00:21:51,960 --> 00:21:54,599
you think of it as a way to not be

386
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unemployed while you're looking for a real job. You're not,

387
00:21:59,160 --> 00:22:01,799
but you're so so, Carrie, how do we invest for

388
00:22:01,920 --> 00:22:05,119
this now? Because is the going to go up?

389
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Speaker 3: The miners are even going up now.

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Speaker 1: Yeah. John gold is rocking now. For two reasons. One

391
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is that okay, three reasons. One is that it's baked

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into the cake. You know, we've already borrowed so much money,

393
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and the interest on that debt is already soaring stratospherically.

394
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So we got a financial crisis out there, no matter what.

395
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The second thing is that I don't know, maybe it's

396
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the third thing. Well, anyhow, the second thing is that

397
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Trump is an easy money guy. He likes low interest rates,

398
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and he already came out and said, I'm going to

399
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demand that the that the Fed immediately cut interest rates,

400
00:22:41,119 --> 00:22:43,400
and I think the rest of the world's central banks

401
00:22:43,400 --> 00:22:45,160
should do the same thing. So he, you know, as

402
00:22:45,160 --> 00:22:47,920
a real estate guy, he knows that interest rates should

403
00:22:48,000 --> 00:22:50,799
be low all the time. And so we're going to

404
00:22:50,880 --> 00:22:55,559
have fairly easy monetary policy under Trump, and we're going

405
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to be throwing easy money basically into the everything bubble,

406
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the biggest financial bubble of all time, which is pretty

407
00:23:00,640 --> 00:23:03,039
damn the inflation area when you think about it. So

408
00:23:03,079 --> 00:23:05,960
that's good for gold. And then we've got this thing

409
00:23:06,000 --> 00:23:08,920
going on with the tariffs in London, causing gold to

410
00:23:08,960 --> 00:23:12,880
pour out of the London markets and into New York.

411
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And two things about that. One is that if you try, well,

412
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if you try to buy gold on the London Metals Exchange.

413
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Now there's an eight week wait. And normally they have

414
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gold sitting in a vault. You know, you go you

415
00:23:25,319 --> 00:23:28,119
buy it by using a futures contract or whatever, and

416
00:23:28,160 --> 00:23:31,119
they just go get the gold and ship it to you.

417
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Now they don't have it, so they're basically defaulting on

418
00:23:36,279 --> 00:23:41,160
one and two month futures contracts, which is just that's

419
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a default in a metals exchange. You know, it's a huge,

420
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big deal. And then the other thing is, you know,

421
00:23:46,920 --> 00:23:49,759
to ship gold from London to New York isn't just

422
00:23:49,839 --> 00:23:52,680
put the book fully on on a plane and fly

423
00:23:52,799 --> 00:23:54,960
it over. You've got to ship those bars because the

424
00:23:55,000 --> 00:23:59,480
two New York and London use different kinds of gold bars,

425
00:24:00,079 --> 00:24:03,960
and has to ship their beautiful gold bars to Switzerland

426
00:24:03,960 --> 00:24:06,960
to be melted down and recast in the form that

427
00:24:07,079 --> 00:24:09,240
New York likes and then have that be shipped to

428
00:24:09,279 --> 00:24:12,480
New York. So this is serious. You know, this gold

429
00:24:12,559 --> 00:24:15,119
flowing out of London isn't going to just turn right

430
00:24:15,160 --> 00:24:18,000
back around and flow back into London out of New York.

431
00:24:19,359 --> 00:24:23,119
And that's spooking the gold market. So gold is now

432
00:24:23,440 --> 00:24:26,079
rapidly approaching three thousand dollars an ounce, which is a

433
00:24:26,119 --> 00:24:28,279
huge deal. Who you deal. And like you said, the

434
00:24:28,319 --> 00:24:31,680
gold miners are finally starting to catch a bid. So

435
00:24:32,640 --> 00:24:35,960
if you want to see what twenty eight hundred dollars

436
00:24:35,960 --> 00:24:40,359
gold means or the miners, just watch the next earning season,

437
00:24:40,400 --> 00:24:42,640
which is underway now. You know, the gold miners have

438
00:24:42,720 --> 00:24:46,519
to announce their earnings pretty soon and they will have

439
00:24:46,680 --> 00:24:49,359
sold a lot of gold at very high prices. So

440
00:24:49,400 --> 00:24:51,440
some of those earnings are going to be pretty nice.

441
00:24:51,880 --> 00:24:54,039
And that's part of why people are buying the miners now,

442
00:24:54,039 --> 00:24:58,359
because they're anticipating some better than expected earnings reports. So

443
00:24:58,559 --> 00:25:02,000
here we go. Yeah, and by the way, you know

444
00:25:02,039 --> 00:25:04,680
that the miners in this kind of a bull market

445
00:25:04,759 --> 00:25:08,599
usually do extremely well. And what also does really well

446
00:25:08,640 --> 00:25:11,359
is silver. In the last year of a precious metals

447
00:25:11,359 --> 00:25:15,880
bull market, silver goes straight up and it's percentage games

448
00:25:15,960 --> 00:25:19,359
double golds at least. So this might be a time

449
00:25:19,400 --> 00:25:21,519
to be buying some silver if you don't already have

450
00:25:21,559 --> 00:25:24,319
a big, nice stack, which you should. I mean, who

451
00:25:24,359 --> 00:25:26,480
listens to your show and doesn't have a stack of silver?

452
00:25:27,119 --> 00:25:29,319
Speaker 3: I hope all of you out there have one.

453
00:25:29,440 --> 00:25:32,680
Speaker 4: I know I'd got a pretty nice stack, and you know,

454
00:25:32,799 --> 00:25:35,799
one of our sponsors, or west red Lake Gold, they're

455
00:25:35,799 --> 00:25:39,839
going to be producing in Q two. Their pfs that

456
00:25:39,880 --> 00:25:43,440
they just put out had gold at twenty two hundred

457
00:25:43,480 --> 00:25:45,920
dollars and they had a two hundred and fifty five

458
00:25:46,000 --> 00:25:51,319
percent IRR. Now that's basically you just added on seven

459
00:25:51,440 --> 00:25:55,079
hundred and fifty dollars profit and they're calculating they're going

460
00:25:55,160 --> 00:25:58,160
to produce seventy thousand ounces a year.

461
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Speaker 3: They'll probably do more than that.

462
00:26:00,839 --> 00:26:06,400
Speaker 4: So their assumptions are so conservative and they're definitely going

463
00:26:06,440 --> 00:26:07,119
to be producing.

464
00:26:07,160 --> 00:26:08,720
Speaker 3: I'm not telling anyone to buy it or not.

465
00:26:08,839 --> 00:26:12,680
Speaker 4: I'm just saying the economics of what they presented as

466
00:26:12,680 --> 00:26:15,960
opposed to what the real world is now is kind

467
00:26:15,960 --> 00:26:16,680
of mind numbing.

468
00:26:16,720 --> 00:26:17,000
Speaker 3: John.

469
00:26:17,720 --> 00:26:21,279
Speaker 1: Yeah, I've got west red Lake on my Substack newsletter

470
00:26:21,359 --> 00:26:24,759
recommended list too. And you know a big part of

471
00:26:24,759 --> 00:26:26,720
that is that they're going to do the phase change. Now.

472
00:26:26,880 --> 00:26:29,119
You know, when you go from being an explorer or

473
00:26:29,160 --> 00:26:33,759
a developer to a producer, you've taken a lot of

474
00:26:33,759 --> 00:26:35,920
the risk out of the equation because you've proved that

475
00:26:36,000 --> 00:26:38,440
there is gold there and that you can get it

476
00:26:38,440 --> 00:26:43,519
out of the ground and process it. So once you

477
00:26:43,559 --> 00:26:47,000
prove you do that then you're a producer, which trades

478
00:26:47,039 --> 00:26:51,160
at a higher ratio in relation to everything else about you.

479
00:26:51,920 --> 00:26:55,039
And so West red Lake in you know, the second

480
00:26:55,039 --> 00:26:57,279
half of this year is going to become a producer.

481
00:26:57,880 --> 00:26:59,839
And hopefully there aren't a lot of growing pains in

482
00:27:00,079 --> 00:27:02,079
you know, the mind ramping up and everything and the

483
00:27:03,279 --> 00:27:07,400
meal ramping up. But if it goes even reasonably smoothly,

484
00:27:08,240 --> 00:27:11,200
and all of their numbers were very conservative and they're

485
00:27:11,200 --> 00:27:13,359
going to be putting out some really good earnings reports

486
00:27:13,359 --> 00:27:15,759
by the end of the year. So here's hoping for

487
00:27:15,880 --> 00:27:18,440
them and a lot of other entities that are kind

488
00:27:18,440 --> 00:27:20,039
of in the class.

489
00:27:19,599 --> 00:27:20,880
Speaker 3: And their management.

490
00:27:21,000 --> 00:27:25,519
Speaker 4: Shane Williams is the pre eminent mind guy when it

491
00:27:25,559 --> 00:27:28,920
comes to mind restarts. He's done. I think this is

492
00:27:28,960 --> 00:27:33,039
his sixth and you know it sounds like, oh, mind restart,

493
00:27:33,160 --> 00:27:36,119
you just turn the switch back on and everything is fine.

494
00:27:36,440 --> 00:27:39,599
Speaker 3: Well, now, company that had that mind before kind of

495
00:27:39,599 --> 00:27:44,160
screwed things up because they didn't understand their metallurgy and

496
00:27:44,200 --> 00:27:48,799
the you know, how to properly process the type of

497
00:27:48,960 --> 00:27:52,960
deposit that they had. But this guy is like brilliant

498
00:27:53,440 --> 00:27:54,559
and you.

499
00:27:54,519 --> 00:27:57,519
Speaker 4: Know, their finance now they got the last tier of

500
00:27:57,559 --> 00:27:59,119
financing on non deluded.

501
00:27:59,240 --> 00:28:01,000
Speaker 3: It's a credit.

502
00:28:00,720 --> 00:28:03,319
Speaker 4: Line they drew down. I think it's thirty five million.

503
00:28:03,359 --> 00:28:06,960
They drew down a significant portion. So they're going to

504
00:28:07,000 --> 00:28:10,319
be ready to go. And they're only calculating a mind

505
00:28:10,359 --> 00:28:13,680
life of like seven years, and you know which is

506
00:28:13,720 --> 00:28:17,440
insane because so with a seven year mind life, with

507
00:28:17,599 --> 00:28:21,039
twenty two hundred dollars gold and seventy thousand ounces per

508
00:28:21,119 --> 00:28:25,640
annum production, all those things taken into account, they're going

509
00:28:25,680 --> 00:28:29,799
to weigh under promise and hopefully way over deliver. But everything,

510
00:28:30,359 --> 00:28:32,640
as you know and I know only too well, we

511
00:28:32,720 --> 00:28:37,440
have the battle scores in this sector is really it's

512
00:28:37,480 --> 00:28:42,599
a heartbreaker sector the market. But hey, what about tariffs

513
00:28:42,599 --> 00:28:47,559
here Mexico Canada? Like all we asked is just don't

514
00:28:47,599 --> 00:28:51,079
send your people over the border and stop sending the drugs,

515
00:28:51,559 --> 00:28:55,799
like I think in Canada the decriminalized fentanyl. And it's like,

516
00:28:55,920 --> 00:28:59,119
oh no, no, you can't push us around. And then

517
00:28:59,359 --> 00:29:02,559
one day they, oh no, we were always cooperating. This

518
00:29:02,680 --> 00:29:04,039
is always what we were going to do.

519
00:29:04,440 --> 00:29:05,559
Speaker 3: But what do you make of this?

520
00:29:06,599 --> 00:29:12,839
Speaker 1: Well, I think Trump is a transactional president and tariffs

521
00:29:12,960 --> 00:29:15,920
are his opening bid when he wants something from somebody.

522
00:29:15,960 --> 00:29:17,599
So what he does is he sees the country who

523
00:29:17,680 --> 00:29:19,960
he wants to behave a certain way, and he immediately

524
00:29:20,039 --> 00:29:22,680
slaps tariffs on them. Since we're the biggest market for

525
00:29:22,720 --> 00:29:26,359
basically everything in the world, that is an existential threat

526
00:29:26,480 --> 00:29:30,759
to almost any country. So on day one, they're looking

527
00:29:30,799 --> 00:29:34,359
at an existential threat over here and maybe doing what

528
00:29:34,440 --> 00:29:37,119
Trump wants over here, and it becomes a no brainer.

529
00:29:37,200 --> 00:29:40,079
You know, they do what he wants. So he doesn't

530
00:29:40,160 --> 00:29:45,720
expect to replace the income tax with tariff revenue. What

531
00:29:45,799 --> 00:29:49,200
he expects to do is to use tariffs as a

532
00:29:49,240 --> 00:29:55,279
behavior modification tool internationally and then get things he wants

533
00:29:55,359 --> 00:29:58,000
from other countries. And mostly what he wants is for

534
00:29:58,039 --> 00:30:01,400
them to set up factories over here. So, you know,

535
00:30:01,440 --> 00:30:04,240
from a working class point of view, Donald Trump is

536
00:30:04,240 --> 00:30:06,279
the best president ever, even though you know he's a

537
00:30:06,279 --> 00:30:10,799
billionaire who might not care personally about forty year old

538
00:30:10,880 --> 00:30:14,319
high school educated white guys or anything. But what he's

539
00:30:14,400 --> 00:30:18,319
doing by demanding that, yeah, I mean, it's it's the

540
00:30:18,359 --> 00:30:21,839
best thing that's ever happened for working class people because

541
00:30:21,880 --> 00:30:25,720
factories coming back at the same time the border is closed,

542
00:30:25,799 --> 00:30:30,119
by the way, means much higher wages for people who

543
00:30:30,119 --> 00:30:32,920
work with their hands and it's about time, you know.

544
00:30:32,960 --> 00:30:35,079
So that that basically is I'm not sure how much

545
00:30:35,079 --> 00:30:39,599
of this is part of Trump's plan, you know, in

546
00:30:39,680 --> 00:30:42,799
his mind, but it's working out that way. He's using

547
00:30:42,880 --> 00:30:48,200
tariffs to impose behavior change on countries, mostly by making

548
00:30:48,240 --> 00:30:51,519
them build factories here, and that's helping working people. So

549
00:30:51,880 --> 00:30:54,839
as a process, it's excellent. I hope it keeps up.

550
00:30:56,039 --> 00:30:59,319
Speaker 4: Yeah, so what do you think of the prospects of

551
00:30:59,640 --> 00:31:00,920
a next in Greenland?

552
00:31:01,519 --> 00:31:05,119
Speaker 1: Yeah, well, you know, you elect a real estate guy,

553
00:31:05,359 --> 00:31:07,079
and you've got to expect him to be out there

554
00:31:07,079 --> 00:31:10,279
trying to buy undervalued real estate. So I mean he's

555
00:31:10,279 --> 00:31:14,359
talking about taking over the West Bank in Gaza now too, right.

556
00:31:14,440 --> 00:31:18,759
Speaker 3: Good good water views there, man, harder heart.

557
00:31:20,119 --> 00:31:22,960
Speaker 1: Because it is you look at it. You just look

558
00:31:22,960 --> 00:31:25,079
at picture of it, and it is prime real estate.

559
00:31:25,160 --> 00:31:28,000
And that's probably warm water there too. Right. What sea

560
00:31:28,119 --> 00:31:30,880
is that is that I'm having trouble picturing. It's not

561
00:31:30,920 --> 00:31:36,559
the Pacific. If it's the Mediterranean, that strip of Mediterranean

562
00:31:36,720 --> 00:31:40,920
real estate is probably worth more than the GDP's of

563
00:31:41,039 --> 00:31:44,640
all the countries in that region. So yeah, you know,

564
00:31:44,680 --> 00:31:46,960
Trump is looking at that, and that's what he's thinking

565
00:31:47,920 --> 00:31:52,279
is Okay, we'll line hotels up, hotels all longer. It'll

566
00:31:52,319 --> 00:31:55,880
be Miami Beach, but with you know, with better water,

567
00:31:56,039 --> 00:31:59,240
you know. And so yeah, that's that's not a surprise.

568
00:32:00,839 --> 00:32:04,279
It's probably a humanitarian catastrophe if they just kick out

569
00:32:04,400 --> 00:32:07,880
the people who live there or who live there prior

570
00:32:07,960 --> 00:32:12,519
to the bombing. But it probably is his thought process.

571
00:32:13,119 --> 00:32:16,680
And you know, there's no way to talk about the

572
00:32:16,680 --> 00:32:20,079
Middle East without running up against the humanitarian crisis part

573
00:32:20,079 --> 00:32:22,240
of it all, because you know, so many people are

574
00:32:22,279 --> 00:32:28,359
suffering and laughing about Trump turning that into a you know,

575
00:32:29,400 --> 00:32:32,599
a resort or something like that is maybe over the line,

576
00:32:32,839 --> 00:32:35,759
but I think it is what he's thinking, and hopefully

577
00:32:35,839 --> 00:32:39,200
it's done in a way that isn't horrendous, you know,

578
00:32:39,640 --> 00:32:42,839
because anything can happen, but hopefully it's not. It's not

579
00:32:42,920 --> 00:32:44,039
the worst case scenario.

580
00:32:44,599 --> 00:32:47,720
Speaker 4: Did you see the look on netna Who's face when

581
00:32:47,759 --> 00:32:51,039
Trump mentioned that, Like, they did not talk about this.

582
00:32:51,119 --> 00:32:55,839
I'm convinced because Netanyahu's jaw like dropped to the floor.

583
00:32:56,799 --> 00:33:03,000
Speaker 1: And but oh he thought that was his resort community project,

584
00:33:03,079 --> 00:33:04,640
you know, and took it away from him.

585
00:33:04,680 --> 00:33:08,519
Speaker 4: Yeah, so hey, I can see the buildings, you know,

586
00:33:08,640 --> 00:33:11,720
wall to wall with Trump on them, right, they'll have

587
00:33:11,759 --> 00:33:16,920
the Trump logo on and they called it what they

588
00:33:16,960 --> 00:33:21,920
call it, the maragaza or Gaza lago, gaz a lago,

589
00:33:24,359 --> 00:33:26,519
what a world real estate development.

590
00:33:26,720 --> 00:33:28,319
Speaker 3: But they have to do something different.

591
00:33:28,359 --> 00:33:32,480
Speaker 4: I think the point is, you know, you can't solve

592
00:33:32,480 --> 00:33:35,319
a problem by the same level of thinking that created it.

593
00:33:35,839 --> 00:33:39,680
And when you try to solve something and it doesn't

594
00:33:39,720 --> 00:33:41,559
work and you keep doing the same thing over and

595
00:33:41,599 --> 00:33:45,160
over again, you got to do something different. So maybe

596
00:33:45,200 --> 00:33:48,559
that's the point of this whole exercise. What is your

597
00:33:48,599 --> 00:33:52,200
biggest surprise about Trump's second term here?

598
00:33:53,119 --> 00:33:55,759
Speaker 1: How much they've done? I mean, because they just went

599
00:33:55,839 --> 00:33:59,359
for it. I thought I was afraid that it was

600
00:33:59,359 --> 00:34:01,279
going to be the same, a sloppy thing that he

601
00:34:01,319 --> 00:34:04,000
did first time around, even though they seem to be

602
00:34:04,000 --> 00:34:07,400
more on top of it. But this time geez, you know,

603
00:34:07,480 --> 00:34:10,960
it's there is so much happening that it's hard to

604
00:34:11,000 --> 00:34:15,559
keep track of. And I the point, there's really no

605
00:34:16,079 --> 00:34:19,239
reason for it to end anytime soon, because there's so

606
00:34:19,320 --> 00:34:20,960
much stuff to be done. Like you said, we haven't

607
00:34:20,960 --> 00:34:22,800
even started on the Defense Department yet.

608
00:34:23,599 --> 00:34:26,199
Speaker 3: So that's the best pity of them all.

609
00:34:26,239 --> 00:34:32,719
Speaker 1: Well, get it, get a peace deal in Ukraine, continue

610
00:34:32,840 --> 00:34:37,199
the peace process, you know, continue the the the end

611
00:34:37,239 --> 00:34:42,000
of hostilities in the Middle East, and then start auditing

612
00:34:42,000 --> 00:34:43,920
everybody in sight and that you know, oh that that

613
00:34:43,960 --> 00:34:45,599
could take a whole year, and it would be the

614
00:34:45,599 --> 00:34:50,000
most amazing year in American political history. So I'm very

615
00:34:50,000 --> 00:34:52,800
pleasantly surprised so far. And let's see where it goes.

616
00:34:53,519 --> 00:34:56,440
Speaker 4: You No, Musk says he thinks he can say four

617
00:34:56,480 --> 00:34:59,119
billion dollars a day. I think we're up to close

618
00:34:59,159 --> 00:35:02,559
to a billion, which would be three hundred and sixty

619
00:35:02,599 --> 00:35:06,440
five billion that had cut off the deficit. And don't forget,

620
00:35:06,440 --> 00:35:09,079
that's money we would just have to borrow into existence.

621
00:35:09,079 --> 00:35:10,599
Speaker 3: So if you can top off.

622
00:35:10,480 --> 00:35:15,000
Speaker 4: A billion a trillion and a half annual spending, and

623
00:35:15,599 --> 00:35:20,000
we get a few hundred billion in tariffs, we cut

624
00:35:20,039 --> 00:35:22,480
some other taxes, you know, all of a sudden, our

625
00:35:22,519 --> 00:35:25,920
deficit's almost gone. If we sell off a bunch of assets,

626
00:35:26,360 --> 00:35:29,440
like the forty five percent of California that the federal

627
00:35:29,480 --> 00:35:33,239
government owns, or the ninety percent I think it is

628
00:35:33,280 --> 00:35:35,440
of Nevada and Utah.

629
00:35:35,760 --> 00:35:36,840
Speaker 3: You know, like, what is.

630
00:35:36,840 --> 00:35:39,599
Speaker 4: The purpose for the federal government to own that land?

631
00:35:40,159 --> 00:35:43,480
There's none that I can see that it's not being productive.

632
00:35:43,880 --> 00:35:47,320
There's no benefit to the FED zoning half of California.

633
00:35:47,840 --> 00:35:49,639
Speaker 1: Well, it's you know, a lot of the land that

634
00:35:49,639 --> 00:35:52,239
they owned. I use live in Idaho, and I can

635
00:35:52,280 --> 00:35:55,559
speak persand about that. A lot of that was national

636
00:35:55,559 --> 00:36:01,800
wilderness areas, and that is forests where humans don't go,

637
00:36:02,039 --> 00:36:05,639
and just we're preserving it. That's a good thing. You know,

638
00:36:05,719 --> 00:36:09,880
I don't want the whole world to be developed, and

639
00:36:10,079 --> 00:36:13,199
you know, roads and gas stations and you know, I

640
00:36:13,199 --> 00:36:15,639
think we have enough strip malls in this world.

641
00:36:15,639 --> 00:36:17,960
Speaker 3: Not plans building it the sheet.

642
00:36:18,159 --> 00:36:22,079
Speaker 1: Yeah, Florida, you know, it might happen that I come

643
00:36:22,119 --> 00:36:24,320
down there and live near you and the not too

644
00:36:24,360 --> 00:36:26,679
just in future, Harriet, And I think you're part of

645
00:36:26,679 --> 00:36:29,000
Florida is a good place to live. But a lot

646
00:36:29,000 --> 00:36:31,599
of other parts of Florida, frankly or you know, the

647
00:36:31,960 --> 00:36:36,400
southern California esque hellscapes because of that, we just overbuild everything.

648
00:36:36,440 --> 00:36:38,400
And if you know, if your world is just strip

649
00:36:38,440 --> 00:36:42,480
malls to the horizon, that's that's not a good thing.

650
00:36:42,880 --> 00:36:46,280
And you know about the federal budget deficit in general,

651
00:36:47,159 --> 00:36:53,159
I would say that's that's a topic for controlling our expectations,

652
00:36:53,360 --> 00:36:59,079
managing our expectations, because you know, Social Security is the

653
00:36:59,119 --> 00:37:05,159
Social Security payments to legitimate recipients are untouchable, and so

654
00:37:05,400 --> 00:37:09,639
is Medicare payments to people who actually qualify that's untouchable.

655
00:37:09,639 --> 00:37:11,760
You can, you can squeeze some of the fraud out

656
00:37:11,800 --> 00:37:16,679
of there, but the vast majority of entitlement payments are

657
00:37:17,000 --> 00:37:20,000
not going to be cut. The Defense Department, that's kind

658
00:37:20,039 --> 00:37:24,159
of a bipartisan boondoggle, you know, with the empire is

659
00:37:24,199 --> 00:37:28,199
something that I don't think you could get a congressional

660
00:37:28,719 --> 00:37:33,880
majority for dramatic cuts just because everybody makes money from

661
00:37:33,880 --> 00:37:37,480
the military budget and a lot of people love the

662
00:37:37,599 --> 00:37:40,039
US military empire. You know, you combine those guys and

663
00:37:40,079 --> 00:37:43,320
you get a majority of voting majority in Congress. So

664
00:37:43,320 --> 00:37:48,239
so well yeah, but self interest is self interest through

665
00:37:48,280 --> 00:37:50,199
these guys, and I don't I don't see them voting

666
00:37:50,239 --> 00:37:54,039
against big military budgets. So that doesn't leave that much.

667
00:37:54,119 --> 00:37:56,679
And a lot of what's left over is school lunches

668
00:37:56,880 --> 00:37:59,599
and you know, stuff that you can't really legitimately cut,

669
00:37:59,800 --> 00:38:01,199
so you.

670
00:38:01,199 --> 00:38:04,719
Speaker 3: Know, voucher it'll be uh yeah.

671
00:38:04,239 --> 00:38:06,920
Speaker 1: But well you know so, but so let's let's close

672
00:38:06,960 --> 00:38:11,679
down the educational Department and USAID and and bank that money.

673
00:38:11,800 --> 00:38:14,239
And and so maybe maybe we cut a few hundred

674
00:38:14,280 --> 00:38:18,320
billion a year out of the federal budget. And I

675
00:38:18,360 --> 00:38:20,639
mean that it's a cut still, you know, the federal

676
00:38:20,639 --> 00:38:22,719
budget never goes down, and if it goes down a

677
00:38:22,800 --> 00:38:25,079
little bit under these guys, that's all we can hope for.

678
00:38:25,199 --> 00:38:27,599
So my point is, we still have that gigantic financial

679
00:38:27,599 --> 00:38:31,800
crisis out there, and Dooge will not stop that from happening. Uh,

680
00:38:31,840 --> 00:38:33,639
And then we have to do the gold standard or

681
00:38:33,679 --> 00:38:36,159
the big quin standard, you know, the monetary reset, whatever

682
00:38:36,159 --> 00:38:39,079
we end up doing. So that's all baked in the cake.

683
00:38:39,480 --> 00:38:41,199
But that doesn't mean we can't do a lot of

684
00:38:41,400 --> 00:38:45,440
really good things in the meantime that make the US

685
00:38:45,599 --> 00:38:48,039
Empire a lot less intrusive around the world and the

686
00:38:48,039 --> 00:38:51,400
government a lot less you know, blatantly immoral. So all

687
00:38:51,440 --> 00:38:53,199
of that could happen, and that means you and I

688
00:38:53,400 --> 00:38:56,079
have a lot of good stuff to talk about until

689
00:38:56,199 --> 00:38:58,320
the assassinations start happening.

690
00:38:58,760 --> 00:39:02,519
Speaker 4: Yeah, well, got a you know, certain things just happen

691
00:39:02,559 --> 00:39:05,239
the way they happened. Hey, here's a you know, Trump

692
00:39:05,360 --> 00:39:10,440
is the first pro crypto president we've ever had HERA

693
00:39:10,599 --> 00:39:14,719
here's a trick question for you. Who is the largest

694
00:39:15,320 --> 00:39:17,320
holder of bitcoin in the world.

695
00:39:17,719 --> 00:39:22,159
Speaker 1: I want to say microstrategies, but you might be implying

696
00:39:22,440 --> 00:39:23,400
the federal government.

697
00:39:23,920 --> 00:39:28,760
Speaker 4: Yes, two hundred eight thousand bitcoins as of December, or

698
00:39:28,800 --> 00:39:32,000
two hundred and seven thousand. Multiply that times one hundred

699
00:39:32,000 --> 00:39:36,159
thoy it's twenty billion. Imagine if they really like go

700
00:39:36,440 --> 00:39:39,639
full force behind it and it becomes like a two

701
00:39:39,679 --> 00:39:41,280
hundred trillion dollar market.

702
00:39:41,840 --> 00:39:43,760
Speaker 3: You know, there's our deficit right there.

703
00:39:44,119 --> 00:39:47,199
Speaker 1: See that that is an interesting pump and dump, right

704
00:39:47,360 --> 00:39:51,199
The federal government could set up that National Wealth Fund,

705
00:39:51,960 --> 00:39:56,599
Sovereign Wealth fund, buy bitcoins just at the margin, because

706
00:39:56,599 --> 00:39:59,519
that would send everybody else into bitcoin, and bitcoin would

707
00:39:59,519 --> 00:40:01,760
go up with the US government having to spend too much,

708
00:40:02,559 --> 00:40:07,280
then dump it or several trillion dollars and then throw

709
00:40:07,320 --> 00:40:09,760
that at the national bet And okay, that could happen.

710
00:40:10,920 --> 00:40:15,920
I think that's completely within the the ethical boundaries of

711
00:40:16,079 --> 00:40:17,960
Trump and his people. You know, doing a pump and

712
00:40:18,039 --> 00:40:19,320
dump with bitcoin.

713
00:40:19,119 --> 00:40:22,079
Speaker 3: Well, I don't have to dump so much. Is just

714
00:40:22,360 --> 00:40:26,320
pay everything off in bitcoin once a while. But that's

715
00:40:26,360 --> 00:40:29,199
a dump billion a coin. You just pay all the

716
00:40:29,239 --> 00:40:30,119
debts in bitcoin.

717
00:40:31,079 --> 00:40:34,360
Speaker 1: Yeah, but that's that is effectively a dump. I mean

718
00:40:34,360 --> 00:40:38,559
you're using your spending a dumb Yeah. Well, well, I

719
00:40:38,599 --> 00:40:40,719
mean you pump it, it goes up to a trillion

720
00:40:40,760 --> 00:40:43,800
dollars per coin, or well, you know, a billion dollars

721
00:40:43,840 --> 00:40:48,920
per coin billion. Yeah, and then then when you spend it,

722
00:40:49,639 --> 00:40:52,800
that's dumping it. And so you can only get you

723
00:40:52,840 --> 00:40:55,000
can only do that with a little bit at the

724
00:40:55,039 --> 00:40:58,920
margin because everybody else was our front running you unless

725
00:40:58,960 --> 00:41:01,880
you lied about who was doing the dumping, you know,

726
00:41:02,039 --> 00:41:04,039
and then they could do that too. They could say, hey,

727
00:41:04,039 --> 00:41:07,239
it must be Saudi Arabia. It's not us. We're still buyers.

728
00:41:07,320 --> 00:41:08,880
America is still buying bitcoin.

729
00:41:11,079 --> 00:41:12,960
Speaker 3: You know where they got that two hundred and seven

730
00:41:13,000 --> 00:41:14,360
thousand bitcoins from?

731
00:41:14,480 --> 00:41:16,920
Speaker 1: But was it from Mount GX or someplace.

732
00:41:16,840 --> 00:41:21,800
Speaker 4: From ross Olvery silk ros Oh, okay, confiscated it. Obviously

733
00:41:21,840 --> 00:41:22,760
they were a lot cheaper.

734
00:41:23,320 --> 00:41:26,239
Speaker 3: You know. I wanted to talk to one other one

735
00:41:26,280 --> 00:41:28,840
other thing. I want to talk to you about Sam

736
00:41:28,880 --> 00:41:32,559
Bankman Freed. All right. I don't think the guy.

737
00:41:32,519 --> 00:41:36,519
Speaker 4: Was a thief in the sense of like a Ponzi

738
00:41:36,800 --> 00:41:40,000
or a Bernie made off. I think he was kind

739
00:41:40,000 --> 00:41:44,079
of probably on the spectrum and kind of like didn't

740
00:41:44,079 --> 00:41:46,760
really know how to run a business, and he didn't

741
00:41:46,760 --> 00:41:49,679
really appreciate you got a bucket here and a bucket there,

742
00:41:49,719 --> 00:41:53,559
and a Wall Street, you got custody and all that.

743
00:41:54,519 --> 00:41:57,559
And you know, he got its twenty five year sentence

744
00:41:58,199 --> 00:42:00,360
for like, I don't think he knows what he did.

745
00:42:01,119 --> 00:42:05,000
And all of his creditors got paid off one hundred

746
00:42:05,000 --> 00:42:08,159
and twenty cents on the dollar. And that's after the

747
00:42:08,159 --> 00:42:13,440
shenanigans that go on with the US trustee and the law.

748
00:42:13,199 --> 00:42:14,760
Speaker 3: Firm and all of that.

749
00:42:15,320 --> 00:42:18,639
Speaker 4: I mean, everybody is feeding on that carcass. So for

750
00:42:18,760 --> 00:42:21,039
somebody to get paid one hundred and twenty cents on

751
00:42:21,119 --> 00:42:23,000
their claim is unheard of.

752
00:42:23,559 --> 00:42:25,320
Speaker 3: I mean, it never ever happens.

753
00:42:25,639 --> 00:42:28,840
Speaker 4: Rarely will it happen where sometimes they will just go

754
00:42:28,960 --> 00:42:34,519
bankrupt to do a liquidation because there's some lurking contingent

755
00:42:34,559 --> 00:42:37,119
liabilities out there and they just say, enough is enough,

756
00:42:37,480 --> 00:42:40,840
let's just liquidate this guy. But if we don't go bankrupt,

757
00:42:41,280 --> 00:42:45,320
we could be personally liable. We go bankrupt, distribute the

758
00:42:45,320 --> 00:42:50,960
proceeds the creditor, the contingent creditors, the contingent liabilities get screwed.

759
00:42:51,480 --> 00:42:59,639
Here man, like you read Michael Lewis's book, and you know,

760
00:43:00,480 --> 00:43:04,360
then you see the bank, the law firm who took

761
00:43:04,440 --> 00:43:08,400
over the bankruptcy, and I don't want to name names

762
00:43:08,440 --> 00:43:09,880
because I don't want to get on their list. I

763
00:43:09,960 --> 00:43:12,760
used to do business with them once upon a time,

764
00:43:13,519 --> 00:43:20,000
and they're a deep state. As it gets. My theory is, yeah,

765
00:43:20,039 --> 00:43:26,159
he was vulnerable and they and he was definitely doing something.

766
00:43:26,320 --> 00:43:29,679
Something's wrong, But this is a deep state takeout to

767
00:43:29,760 --> 00:43:33,480
let Wall Street take over Crypto. He was a genius trader,

768
00:43:33,559 --> 00:43:39,280
John like he could arbitrage in his head multiple markets,

769
00:43:39,320 --> 00:43:43,800
and you know, he's making like billions of dollars just arbitraging.

770
00:43:44,239 --> 00:43:46,599
He got in over his head and then they went

771
00:43:46,639 --> 00:43:47,599
and dissected him.

772
00:43:48,880 --> 00:43:50,960
Speaker 1: Yeah, well, okay, I don't know anything about the details

773
00:43:51,000 --> 00:43:54,800
of that, so I don't have an opinion about whether

774
00:43:54,840 --> 00:43:57,639
it was a crime or just an autistic kid who

775
00:43:57,719 --> 00:44:00,880
didn't understand what he was doing. I will say that

776
00:44:00,960 --> 00:44:04,639
the woman that he had as his CEO of the

777
00:44:04,719 --> 00:44:08,119
related hash fund, she was on TV a lot, and

778
00:44:09,000 --> 00:44:11,760
no way in hell was that for some the CEO

779
00:44:11,800 --> 00:44:14,920
of a hedge fund for real, right, she would just

780
00:44:15,440 --> 00:44:20,440
some strange little chick that he picked up somewhere and installed.

781
00:44:20,840 --> 00:44:24,639
Speaker 4: Yeah, I think she pleaded guilty. I don't remember she

782
00:44:24,719 --> 00:44:28,679
turned against him, and I think she got sentenced. But

783
00:44:29,239 --> 00:44:31,360
I'm going to do some more research on it because

784
00:44:31,440 --> 00:44:35,519
I am pretty confident that they knew he was underwater.

785
00:44:36,039 --> 00:44:39,360
They struck right at that point, and Wall Street picks

786
00:44:39,440 --> 00:44:43,360
up the pieces, John. Cryptos are the greatest gold rush

787
00:44:43,519 --> 00:44:46,920
ever for Wall Street. Think about that, because they don't

788
00:44:46,920 --> 00:44:49,800
have to worry about a company making its quarterly numbers

789
00:44:50,519 --> 00:44:53,679
and you know how much of a dividend they're going

790
00:44:53,760 --> 00:44:57,320
to pay a little things like that that historically they

791
00:44:57,360 --> 00:45:01,920
were you know, supposed to be watching. Now it's just

792
00:45:02,360 --> 00:45:07,079
what new product, what new etf can we sell some futures,

793
00:45:07,400 --> 00:45:12,320
let's trade and this is the biggest gravy train for

794
00:45:12,599 --> 00:45:16,039
Wall Street and history. And make a prediction here, every

795
00:45:16,159 --> 00:45:19,559
major company like ten billion dollars and over will create

796
00:45:19,599 --> 00:45:23,440
their own cryptocurrency. They'll tie it to the dollar, but

797
00:45:23,559 --> 00:45:26,159
basically they will pay you in their crypto. If you're

798
00:45:26,199 --> 00:45:29,119
a vendor, you can go convert it to money or

799
00:45:29,360 --> 00:45:33,360
somebody else's crypto. Probably Elon Musk will start with it.

800
00:45:33,719 --> 00:45:38,519
This is what Facebook and Zuckerberg wanted to do, Like

801
00:45:38,599 --> 00:45:42,360
five six years ago, and Jenet Yellen said no, you can't,

802
00:45:43,239 --> 00:45:44,480
and that was the end of it.

803
00:45:44,719 --> 00:45:47,239
Speaker 1: But this is going to happen, jaw Well Trump will say, yeah,

804
00:45:47,239 --> 00:45:50,119
go ahead and do it. Okay. Two things about that.

805
00:45:50,199 --> 00:45:53,280
One is that what you're talking about is tokenization, where

806
00:45:53,360 --> 00:45:57,239
you basically slice and dice everything. It's like securitization, but

807
00:45:57,800 --> 00:46:00,760
instead you create some kind of a crypt do entity

808
00:46:01,280 --> 00:46:04,199
that uh and and and we're doing it for everything,

809
00:46:04,599 --> 00:46:07,760
and not just digital assets but real world assets. By

810
00:46:07,800 --> 00:46:11,800
the way, real world assets is now a name for

811
00:46:11,880 --> 00:46:17,360
a subcategory of investment assets carved out because they exist.

812
00:46:19,519 --> 00:46:23,079
There's actually a category that are defined as existing, and

813
00:46:23,119 --> 00:46:25,800
that's there, that's their defining trait because a lot of

814
00:46:25,840 --> 00:46:30,039
these other things do not exist. And yeah, well, I

815
00:46:30,039 --> 00:46:35,559
mean the cryptos have no physical existence and printed on well,

816
00:46:36,000 --> 00:46:38,119
I mean, I don't know what it means for the value,

817
00:46:38,199 --> 00:46:41,760
but literally they don't have a physical existence, and yet

818
00:46:41,760 --> 00:46:46,599
they're they're investment vehicles and instruments and things like that.

819
00:46:46,639 --> 00:46:49,679
So what what what you were talking about where everybody

820
00:46:49,679 --> 00:46:53,000
creates their own crypto and ties it to the dollar

821
00:46:53,719 --> 00:46:58,119
means the infinite increase in the money supply, so that

822
00:46:58,199 --> 00:47:02,199
means spike inflation for all kinds of things, and it'll

823
00:47:02,239 --> 00:47:04,199
be a lot of the low quality and cryptos that

824
00:47:04,320 --> 00:47:06,599
just cease to exist, you know, their value will plunge

825
00:47:06,639 --> 00:47:10,079
to zero, that'll be their intrinsic value, and then a

826
00:47:10,119 --> 00:47:12,920
lot of other things will be caught in the in

827
00:47:12,960 --> 00:47:16,719
the kind of whirlwind that that creates. So we're headed

828
00:47:16,800 --> 00:47:20,199
for a kind of peak complexity that is just going

829
00:47:20,280 --> 00:47:23,039
to be breathtaking, and nobody can predict how it's going

830
00:47:23,079 --> 00:47:26,800
to play out, except you know, in pockets, if not

831
00:47:26,960 --> 00:47:28,280
all the way across the board, it's going to be

832
00:47:28,320 --> 00:47:29,199
incredibly inflation.

833
00:47:29,360 --> 00:47:34,119
Speaker 4: Ray, can't you see? Remember banks used to create their

834
00:47:34,159 --> 00:47:37,199
own money. They used to have gold in the vault

835
00:47:38,239 --> 00:47:42,599
in theory, and they their money was deposit receipts. So

836
00:47:42,679 --> 00:47:47,480
for JP Morgan Chase to create a trillion dollar crypto

837
00:47:47,559 --> 00:47:52,000
currency that you know, you can deposit in JP Morgan,

838
00:47:52,000 --> 00:47:55,960
they'll pay you interest on their own currency, right, and

839
00:47:56,119 --> 00:47:59,199
you can use it to buy other stuff, buy stuff

840
00:47:59,239 --> 00:48:03,639
in the market whatever, Right, I mean, how can they

841
00:48:03,719 --> 00:48:05,159
not do this, John, how.

842
00:48:05,000 --> 00:48:05,440
Speaker 3: Can they not?

843
00:48:06,000 --> 00:48:10,480
Speaker 1: They'll do it and everybody will do it. And all

844
00:48:10,519 --> 00:48:14,079
of those things that are created are forms of money.

845
00:48:14,079 --> 00:48:18,239
They're like dollar bills or you know, a bank statement

846
00:48:18,760 --> 00:48:22,679
balance or something like that for treasure. But if everybody's

847
00:48:22,719 --> 00:48:25,840
creating them, that means the money supply is going up

848
00:48:25,840 --> 00:48:29,880
at an exponential rate. So we get this massive inflation,

849
00:48:30,079 --> 00:48:33,159
which is to say, most of those things will plunge

850
00:48:33,199 --> 00:48:36,880
to zero in value, and you know, it might end

851
00:48:37,000 --> 00:48:40,400
up with a couple of cryptos and gold and silver

852
00:48:40,480 --> 00:48:42,719
the only thing standing at the end of this. So

853
00:48:42,800 --> 00:48:44,599
we need to be paying attention to this because it's

854
00:48:44,719 --> 00:48:47,480
it's destructive for most people. You know, this is going

855
00:48:47,559 --> 00:48:50,880
to be something that sucks people in and destroys their lives,

856
00:48:50,960 --> 00:48:52,280
so we have to be very careful.

857
00:48:52,920 --> 00:48:55,760
Speaker 3: Hey, can you picture they say, you can have your

858
00:48:55,800 --> 00:48:59,280
money and deposit at JP Morgan and you'll pay us

859
00:48:59,760 --> 00:49:03,119
a fee for the privilege of storing it here. Or

860
00:49:03,599 --> 00:49:04,639
you can convert to.

861
00:49:05,960 --> 00:49:10,480
Speaker 4: JP's whatever and you'll make ten percent interest.

862
00:49:10,559 --> 00:49:11,360
Speaker 3: Which one would you.

863
00:49:11,320 --> 00:49:15,639
Speaker 4: Prefer, right, and then they'll have all the dollars and

864
00:49:15,800 --> 00:49:19,159
everyone else'll have the crypto. When you charge on a

865
00:49:19,239 --> 00:49:22,360
JP Morgan credit card, you can pay it with your

866
00:49:22,440 --> 00:49:26,960
JPS writ your mill automatically with JP's. Maybe you'll get

867
00:49:26,960 --> 00:49:29,000
a discount if you use jps right.

868
00:49:28,920 --> 00:49:33,039
Speaker 1: Yep, yep, and people will fall for that and be destroyed.

869
00:49:33,079 --> 00:49:33,239
Speaker 3: You know.

870
00:49:33,239 --> 00:49:35,880
Speaker 1: It's the people who trust the system that end up

871
00:49:35,880 --> 00:49:38,559
losing when something like this happens. So we need to

872
00:49:38,599 --> 00:49:41,679
make sure we keep that message out there that never

873
00:49:41,880 --> 00:49:46,599
ever trust anything you don't understand completely, because the reason

874
00:49:46,639 --> 00:49:49,159
you don't understand it is because they're lying in some

875
00:49:49,280 --> 00:49:50,039
way about it.

876
00:49:50,159 --> 00:49:52,960
Speaker 3: Yeah, because they don't want you to, because your ignorance

877
00:49:53,039 --> 00:49:55,400
is not bliss. I think we'll leave it at that.

878
00:49:55,559 --> 00:50:00,119
Speaker 4: Make sure you go over to John's substack Rebino dot

879
00:50:00,159 --> 00:50:03,239
substack dot com and the link is in the show

880
00:50:03,239 --> 00:50:06,960
notes of this interview on Financial Survival Network dot com

881
00:50:06,960 --> 00:50:09,159
in the show notes of this interview. While you're there,

882
00:50:09,199 --> 00:50:12,480
please sign up for your free newsletter. Like over seventy

883
00:50:12,519 --> 00:50:16,679
thousand other FSN members have, we're getting like thousands of

884
00:50:16,800 --> 00:50:20,760
sign ups per week for some reason. John, and Hey,

885
00:50:21,119 --> 00:50:23,679
we will talk to you again soon. Be well, all right, Kara,

886
00:50:23,760 --> 00:50:24,280
take care.

887
00:50:24,480 --> 00:50:28,639
Speaker 2: Thanks for listening to carry Letz's Financial Survival Network your

888
00:50:28,719 --> 00:50:32,519
solution to today's trying times. For the latest, go to

889
00:50:32,679 --> 00:50:38,320
Financial Survival Network dot com. Financial Survival Network now more

890
00:50:38,400 --> 00:50:38,960
than ever