Speaker 1: So they're basically trying USA ideas, trying to institute a
system of censorship around the world that censors in the
same way as the US once did and Europe does now,
you know. So it's back to authoritarianism. Once they get
censorship set up everywhere, it's basically over.
Speaker 2: You're listening to Carrie Lutz's Financial Survival Network, where you
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Speaker 3: Ever, and welcome.
Speaker 4: You are listening to and watching the Financial Survival Network.
I'm your host, Carrie Lutz. John Rabino's with us, and
make sure you go check out his substack Rabino dot
substack dot com. Questions comments k l at Carrie lets
dot com. John has been a while, man, I don't
know that we've talked since Trump's inauguration. We definitely haven't
the past three weeks. But my goodness, did you ever
see anything like this?
Speaker 3: Hey?
Speaker 1: Carrie? Yeah, we need to do like a two or
three hour show today, you know, some kind of Joe
Rogan length thing, so we can cover all the stuff
that's happened. But yes, a ton of stuff is happening.
But a good place to start might be with how
the deep state is being exposed. You know, Trump has
Elon Musk and the rest of the DOSE guys out
there looking into this stuff, and what they're finding is astounding.
So let me start just a little further back and
work our way up to US AID ADS because it's
just crazy. So basically, what has happened we're now finding
out is that the deep state, both Republican and Democrat,
is totally bipartisan. They've set up this ecosystem of government
funded entities that is basically just a slush fund for
useless political people. So basically, you know, in today's world,
in today's US, you can get a degree from say
Georgetown or someplace, and then you go be a congressional
aid and then you go to a think tank, and
then you go to some NGO that does you know,
hands money to dictators in some other part of the country.
And then you come back and you work for a
you know, K Street lobbyist, and then maybe you run
for Congress and it just goes and then maybe you
go work for a Ivy League university, and it's all
within this ecosystem where you do basically nothing. You just
hang out and you vote for the right people and
you donate to the right people, and you accomplish basically
nothing that's useful in any way, but the government funds
it all. So you and the tens of thousands of
people like you end up making a ton of money
for an entire career. And it's this cushy, nice life
that they've set up for themselves. And that's all being
exposed now. And maybe one of the biggest entities that
participates in this is USAID, which is this basically, you know,
the the safe arm of the CIA. In other words,
they do stuff that the CIA wouldn't be caught dead doing,
but they do it in a way that is easy
to hide. And so they're out there basically funding the
mainstream media. You know, they hand out tens of millions
of dollars to the BBC and this thing called Politico. Yes,
so they went in and they basically bought tens of
millions of dollars worth of subscriptions to Politico, and that's
how they finance, political, So all of these things are
out there just kind of self perpetuating a system, okay,
and a lot of what USAID does is overthrow other
governments or in other ways suborn other countries and basically
just keep them under the control of the US Empire.
And so Trump is basically shut that thing down now.
You know, He's laid off ninety seven percent of the
people that are working for it and just shut down
all the funds, transfers to legacy media outlets, and it's
got the deep state power free. I mean, they are
absolutely terrified that this might actually work, because there's some
question about whether it's constitutional for the executive branch to
shut down an entity that is funded by Congress. You know,
we'll find that out, but so far, Trumplin just did it.
And so this thing that was basically just the hidden
evil arm of the US Empire and you know, stomping
around the world doing all kinds of crazy stuff, is
basically done now. And that is just phenomenal. You know,
that's a great thing that's happening. So and that and
among a lot of other things, you know, the government
is under Trump, they're operating with a flood the Zone
strategy where they're they're coming up with five different things
that outrage the deep state every day, and so the
legacy media can't cover all that stuff, or that they
try to cover today's stuff, that means they have to
let yesterday's stuff slide. And so so much of this
stuff is basically for that reason, under the radar. You know,
the the Trump administration is publicizing what they want to
be publicized and just letting the other stuff be hidden
because they're flooding the zone with everything. So so far,
you know, so far is so good, and also so
far so entertaining. This is just hilarious to watch. And
you know, a good place to go to to see
what the deep state is thinking about all this is
the New York Times online arm because they're pretty smart people.
You know, The New York Times is the one of
the pinnacles of a mainstream media career path. So they
get smart people who can articulate this stuff really well.
And so they sit around and they talk about whether
it's over for the Democrat Party and what they should
do about all this stuff, and it's hilarious. They're they're
so baffled.
Speaker 3: But.
Speaker 4: They got tens of millions of dollars from the USA ideals.
Speaker 1: Yes they did. They're on the gett a donor of it.
Speaker 4: They weren't supporting my website, John they do? Were they
behind dollar collapse?
Speaker 1: Okay? Here here's here's a here's a possibility for the
way this goes. Is it some court tells Trump that
he is not allowed to shut down USAID. So then
they say, well, okay, we'll just convert it to a
pro MAGA slush fund, ben and maybe they will be
you might get a check from those guys pretty soon.
Speaker 3: Care that would be nice?
Speaker 1: I went to, well, that would be poetic justice. You know.
You say, well, you can't stop USAIDA, and Trump says, okay,
well we'll just co opt it. Then, you know, we'll
just use it for our own purposes.
Speaker 3: That it's not really what he wants to do.
Speaker 4: They said they're going to fire out of or i
should say, out of thirteen thousand employees. They're going to
keep three hundred of them, and they're folding it into
the State Department. Now, USAID was always a CIA cutout
projecting soft powers. So yeah, well we'll get hot, we'll
get running water going in your country. And you agree
that you'll buy into the system and you'll help US
spy and whatever else. You know, that's a whole They
don't just give people stuff, give countries stuff. They have
to agree to be our partners in quotes.
Speaker 1: Right, and among the biggest things they have to agree
to these countries have to agree to censor dissenting voices.
So they're basically trying usaidea is trying to institute a
system of censorship around the world that sensors in the
same way as the US once did and Europe does now,
you know, So it's back to authoritarianism. Once they get
censorship set up everywhere, it's basically over right, because how
do you stop up or a government that is able
to keep you from speaking. And you know, that's what
we were so close to. We were inches away from
this stuff happening. And you know, with open borders, we
were going to be a one party state with four
more years, and there would have been enough illegal immigrants
in swing states to throw every election to the Democrats.
So we were right there. You know, one lost election.
If Kamala Harris was president right now, democracy around the world,
not just in the US, would be over amazing. How
close we we got.
Speaker 4: And they were also putting in billions of dollars funding
relief efforts for the so called newcomers coming into the
country illegally, hundreds of millions of dollars to something called
the Lutheran Immigration Services. I mean, it's staggering the extent
of the corruption. And yeah, they did some things that
did food relief, vaccines. I mean, I don't know what
kind of vaccines they were, whether RFK would approve of
them or not.
Speaker 1: Carrie, could I step in right there. I just read
a thing that said there's this huge surplus of those
m m r NA vaccines and so that's so they're
using it as part of foreign aid. Now they're sending
all those vaccines to other countries in order to vaccinate
children because that way they can buy them from Pfizer
and the other big pharma companies, who then don't lose
money on the vaccines that you and I won't take.
That's not really funny. I'm sorry, I don't. I shouldn't
laugh about that, because it's ruining the lives of children
all around the world.
Speaker 3: That's awful. Well, you know, the the illegal immigrants that
are here, they're they're committing crimes that Americans won't commit, right.
Speaker 1: Yeah, who's going to do it if not the immigrants?
Speaker 3: Right or that.
Speaker 4: Yeah, there's some legitimate programs in there, but it was
a thing initially. JFK created it by executive order and
it was there to project soft power, meaning you know,
dollar diplomacy, the velvet fist, if you will. And now
it's morphed into like a gravy train for for the
Dems that you know, where dollars go to die.
Speaker 1: You know, we'll see you know, we can't just blame
the Dems on this because Republicans are part of the
gravy train too. And USAID. You know, after you're done
being a think tank guy or a congressional aid or
something like that, you just go to one of these
NGOs that are financed by USAID and that pays your salary.
So I mean, you can literally get through an entire
lifetime bouncing from one of these entities to another, never
accomplish a positive thing in your life, retire with a
ton of money, and everybody thinks you did important stuff.
And that is the ecosystem they created. It's astounding, and
you know, to see these guys get fired on mass
poetic justice of the highest order. I mean, this is
just amazing. And so what podcasts now have to do
is start following these people after they get fired to
see where they end up, because I think their lives
are going to be a little less cushy than they were.
Speaker 4: A subsidized podcast, no doubt. You know, Bill Crystal, a
big neocon of his NGO, got paid like eight million
dollars that we know of.
Speaker 3: There's a lot more coming.
Speaker 4: And you know, he's a pro democracy group. It's a
pro democracy ngo that Crystal sits on, and you know,
got to eight million Politico. You know, thirty four million
New York Times is just it's staggering in the scope
of it.
Speaker 3: You know, it's real.
Speaker 1: Yeah, it is absolutely astounding. And you know, we kind
of sort of knew this was happening, but we didn't
know that it was happening on this scale. I mean,
this is new information for most people.
Speaker 4: Well, yeah, we knew the We knew the extent of it,
but we didn't know the specifics.
Speaker 3: We knew the macro.
Speaker 4: We knew they had to be stealing a fortune because
the budget, which was already inflated in twenty nineteen went
up a trillion and a half dollars thirty a third,
and certainly they aren't doing anything you know, beneficial for
that trillion and a half more dollars, So it's basically
all being stolen. Now they've gone into h you know,
to Medicare and Medicaid, found one hundred billion dollars off
the top of misspending. I assume that includes fraud, improper payments,
et cetera, et cetera. Wait till they get to the Pentagon, John,
Can you imagine that's going to be an interesting one
because you know, the Republicans are not going to like
that part of it.
Speaker 1: They're liking the whole USAI do thing for the most
part because it's most the left wing entity right now.
But when they start getting into the Pentagon, that's that's
when we find out how serious these guys are about
actually finding the truth. And you know, here's hoping the
Pentagon has never passed an audit. There are tens of
trillions of dollars that have just gone missing, and well,
I mean officially missing.
Speaker 3: We know where they are.
Speaker 1: They're in dictators Swiss bank accounts and the general's second
houses and things like that it's all been spent by
the guys who siphoned it off along the way. And
you know what, if we can shine some light on that,
that would be amazing. But I don't want to get
too excited about this because there are barriers in the
way of a lot of this stuff. But you know,
so far it's been hilarious.
Speaker 4: The firewall and the preening by the left of you know,
they haven't mentioned nobody. No rational citizen can be in
favor of money just being flushed down the toilet, right,
nobody can be. But these guys are going out there
defending it, never saying that other exposing ways, just that
Elon Musk who voted for him, he's unappointed. He's running
the country all this stuff. And in the meantime, they
keep dropping more and more and more fraud. And it's
going to be like this in every agency, Like I
know for sure when they get the HUD, there's going
to be billions because after the foreclosure crisis, there were
all these lawsuits brought against the banks and they were
all settled, and they all involved payments to NGOs along
with a lump sum payment to the government. So there's
billions of dollars that have been floating around HUD getting
stolen basically, and.
Speaker 3: You pretty much go.
Speaker 4: Also, it's like the people in Treasury when they went there,
they were told they were told never to reject the payment.
Every payment that came in they had to pay. Man,
had I known that, I would have been sending my
bills into the treasury years ago. I'm thinking about doing
it now. But those Doge guys might have might have
cut it off for me.
Speaker 1: Yeah, yeah, you might have missed your chance at this
gravy is rand here, Harry.
Speaker 3: But you never know.
Speaker 1: I mean that the scenario where the the Trump administration
doesn't kill but instead co ops USA I D is
still possible. And if that's the case, you would be
on the list. So don't give up. You know you
could get your eight million dollars. Okay, I'm willing.
Speaker 3: To try it. You know, why not? What do I
got to lose?
Speaker 4: Certainly the benefits have just not the benefits, the so
called benefits to the country just have not been there.
Speaker 3: But that's Doge for you.
Speaker 4: It's amazing they're using AI, they get into the system
and these these nobody's ever audited this stuff like they
could to allocate x amount in Congress, and then the
Treasury could pay out five times more and nobody would
ever know.
Speaker 1: Yeah, and you know, the big risk they took before
they started all this stuff was was having Elon Musk
hang out with Trump at mar A Lago. Yeah, because
that was a very coherent target right there. You know
that that building could have blown up at any time
that they were in there together.
Speaker 3: Oh, they never do that, We know that.
Speaker 1: I think that. You know, they were probably using Elon
Musk's private security to protect the buildings and that's that's
why it didn't blow up.
Speaker 4: But anyhow, Yeah, laser, drone killers and all that kind
of stuff, and you know, it just shows how incompetent
they are. They tried to take them out twice and
you know, they just couldn't do it. So now they're stuck.
And these guys we've been trusting to run the world, right.
Speaker 1: I wouldn't say they're stuck. I would say they're is
trying some new way to do it and something will
happen pretty soon. The idea that this is going to
be peaceful in its current form, in other words, flooding
the zone for the next four years, not a chance
something serious is going to happen in an attempt to
stop what is now happening. And so you know, we
should be ready for that because that's the world could
change in a heartbeat almost and yeah, yeah, it came
really close to changing in a heartbeat. And you know,
one of the things that is keeping Trump going is
that JD. Vance would probably continue the Trumpian revolution smart
and yeah, yeah, yeah. And he's got a lot of
energy too, you know, he would he wouldn't slack off.
So it's not clear how much you would gain by
taking out Trump because Jdvance is there. And hopefully those
three guys, Vance and Musk and Trump are never in
the same building. Definitely never in the same car. Okay,
hopefully they know that.
Speaker 4: Not eating at the same McDonald's, right, yeah, yeah, And
so so there's light.
Speaker 3: It's better stay away from it.
Speaker 1: Looks like your boy RFK has a chance at HHS. Now.
You know, it's going to be a very close vote,
but it's possible.
Speaker 4: Now tiebreaker, it'll be a tiebreaker, you know, I think
he's going to make it. And Tulsi and Cash Patel,
they tied up Cash Pattel for a week. Cash Battel
is going to make it, which means that he got
his entire team in and really, uh, it's it becomes
an impossible task to turn this back the tide. You know,
people aren't stupid, and even if they aren't stupid, they
still they still understand the grift that's going on. It's
become like a massive grift. We always knew that government
was a grift. We just had no idea. Can you
imagine if they check out the payments to al Sharp,
then how much money they'll find?
Speaker 1: Yeah, I mean they're they're going to find all this
stuff and well, you know, the cabinet as it's evolving
is I don't know, I don't I don't want to
say almost too good to be true. That's that's my
first impression. But you know, these guys, there are experience
issues and stuff with some of these guys, but it's
going to be the most entertaining capet for sure that
has ever been. And have you seen Trump's new press secretary?
Speaker 3: Yeah, she is a fault blog.
Speaker 1: She is twenty six years old and hyper articulate, and
she's just shutting these guys. You know, I thought Kaylie Mcananny,
the Trump had for a while ye. Yeah. I thought
she was the best that would ever and I was
surprised he didn't just bring her back. But this new
one is also better than the Kayla mcananny, I think
in a lot of ways. So, you know, having somebody
like that as a spokesperson is riceless. It's invaluable to
be able just to shut down the DC press core
with facts and so yeah yeah, and so the you know,
the press corps never gets a gotcha moment and they
never get any kind of a SoundBite that they can
use because everything she's saying totally contradicts everything they believe.
So yeah, she's good. So this is impressive so far.
Frum definitely hit the ground running.
Speaker 4: And look at all the people from the press who
are like basically going bye bye. We already saw it
started before, but now they got rid of Jim Acosta,
and there's a whole bunch of other guys from the
press that are just you can see, the view is
not long for this world. And I don't know how
long long Joe and Nika are going to be around
because basically a company that owns them has spun them off,
and there's no way that MSNBC can make money.
Speaker 3: Maybe you were bed as well.
Speaker 1: Did you hear the details of the spinoff? They don't
get the MSNBC name and they don't get any reporting
help from NBC, So they're a no they're a no
name new podcast just entering the market right now with
people that have really small audiences. So I think MSNBC
will not be in the top one hundred of whatever
they're going to be, you know, cable channels or podcasts,
series or whatever, you know, whatever form they take, they're
going to be small. And those guys are going to
be making you know, I mean, what do you make
if you're the in the one hundred and tenth biggest
podcast and there's fifty of you on the same podcast,
you you don't make very serious Milliam work. Yeah, maybe
you might have to think of it as a problem. Yeah,
you think of it as a way to not be
unemployed while you're looking for a real job. You're not,
but you're so so, Carrie, how do we invest for
this now? Because is the going to go up?
Speaker 3: The miners are even going up now.
Speaker 1: Yeah. John gold is rocking now. For two reasons. One
is that okay, three reasons. One is that it's baked
into the cake. You know, we've already borrowed so much money,
and the interest on that debt is already soaring stratospherically.
So we got a financial crisis out there, no matter what.
The second thing is that I don't know, maybe it's
the third thing. Well, anyhow, the second thing is that
Trump is an easy money guy. He likes low interest rates,
and he already came out and said, I'm going to
demand that the that the Fed immediately cut interest rates,
and I think the rest of the world's central banks
should do the same thing. So he, you know, as
a real estate guy, he knows that interest rates should
be low all the time. And so we're going to
have fairly easy monetary policy under Trump, and we're going
to be throwing easy money basically into the everything bubble,
the biggest financial bubble of all time, which is pretty
damn the inflation area when you think about it. So
that's good for gold. And then we've got this thing
going on with the tariffs in London, causing gold to
pour out of the London markets and into New York.
And two things about that. One is that if you try, well,
if you try to buy gold on the London Metals Exchange.
Now there's an eight week wait. And normally they have
gold sitting in a vault. You know, you go you
buy it by using a futures contract or whatever, and
they just go get the gold and ship it to you.
Now they don't have it, so they're basically defaulting on
one and two month futures contracts, which is just that's
a default in a metals exchange. You know, it's a huge,
big deal. And then the other thing is, you know,
to ship gold from London to New York isn't just
put the book fully on on a plane and fly
it over. You've got to ship those bars because the
two New York and London use different kinds of gold bars,
and has to ship their beautiful gold bars to Switzerland
to be melted down and recast in the form that
New York likes and then have that be shipped to
New York. So this is serious. You know, this gold
flowing out of London isn't going to just turn right
back around and flow back into London out of New York.
And that's spooking the gold market. So gold is now
rapidly approaching three thousand dollars an ounce, which is a
huge deal. Who you deal. And like you said, the
gold miners are finally starting to catch a bid. So
if you want to see what twenty eight hundred dollars
gold means or the miners, just watch the next earning season,
which is underway now. You know, the gold miners have
to announce their earnings pretty soon and they will have
sold a lot of gold at very high prices. So
some of those earnings are going to be pretty nice.
And that's part of why people are buying the miners now,
because they're anticipating some better than expected earnings reports. So
here we go. Yeah, and by the way, you know
that the miners in this kind of a bull market
usually do extremely well. And what also does really well
is silver. In the last year of a precious metals
bull market, silver goes straight up and it's percentage games
double golds at least. So this might be a time
to be buying some silver if you don't already have
a big, nice stack, which you should. I mean, who
listens to your show and doesn't have a stack of silver?
Speaker 3: I hope all of you out there have one.
Speaker 4: I know I'd got a pretty nice stack, and you know,
one of our sponsors, or west red Lake Gold, they're
going to be producing in Q two. Their pfs that
they just put out had gold at twenty two hundred
dollars and they had a two hundred and fifty five
percent IRR. Now that's basically you just added on seven
hundred and fifty dollars profit and they're calculating they're going
to produce seventy thousand ounces a year.
Speaker 3: They'll probably do more than that.
Speaker 4: So their assumptions are so conservative and they're definitely going
to be producing.
Speaker 3: I'm not telling anyone to buy it or not.
Speaker 4: I'm just saying the economics of what they presented as
opposed to what the real world is now is kind
of mind numbing.
Speaker 3: John.
Speaker 1: Yeah, I've got west red Lake on my Substack newsletter
recommended list too. And you know a big part of
that is that they're going to do the phase change. Now.
You know, when you go from being an explorer or
a developer to a producer, you've taken a lot of
the risk out of the equation because you've proved that
there is gold there and that you can get it
out of the ground and process it. So once you
prove you do that then you're a producer, which trades
at a higher ratio in relation to everything else about you.
And so West red Lake in you know, the second
half of this year is going to become a producer.
And hopefully there aren't a lot of growing pains in
you know, the mind ramping up and everything and the
meal ramping up. But if it goes even reasonably smoothly,
and all of their numbers were very conservative and they're
going to be putting out some really good earnings reports
by the end of the year. So here's hoping for
them and a lot of other entities that are kind
of in the class.
Speaker 3: And their management.
Speaker 4: Shane Williams is the pre eminent mind guy when it
comes to mind restarts. He's done. I think this is
his sixth and you know it sounds like, oh, mind restart,
you just turn the switch back on and everything is fine.
Speaker 3: Well, now, company that had that mind before kind of
screwed things up because they didn't understand their metallurgy and
the you know, how to properly process the type of
deposit that they had. But this guy is like brilliant
and you.
Speaker 4: Know, their finance now they got the last tier of
financing on non deluded.
Speaker 3: It's a credit.
Speaker 4: Line they drew down. I think it's thirty five million.
They drew down a significant portion. So they're going to
be ready to go. And they're only calculating a mind
life of like seven years, and you know which is
insane because so with a seven year mind life, with
twenty two hundred dollars gold and seventy thousand ounces per
annum production, all those things taken into account, they're going
to weigh under promise and hopefully way over deliver. But everything,
as you know and I know only too well, we
have the battle scores in this sector is really it's
a heartbreaker sector the market. But hey, what about tariffs
here Mexico Canada? Like all we asked is just don't
send your people over the border and stop sending the drugs,
like I think in Canada the decriminalized fentanyl. And it's like,
oh no, no, you can't push us around. And then
one day they, oh no, we were always cooperating. This
is always what we were going to do.
Speaker 3: But what do you make of this?
Speaker 1: Well, I think Trump is a transactional president and tariffs
are his opening bid when he wants something from somebody.
So what he does is he sees the country who
he wants to behave a certain way, and he immediately
slaps tariffs on them. Since we're the biggest market for
basically everything in the world, that is an existential threat
to almost any country. So on day one, they're looking
at an existential threat over here and maybe doing what
Trump wants over here, and it becomes a no brainer.
You know, they do what he wants. So he doesn't
expect to replace the income tax with tariff revenue. What
he expects to do is to use tariffs as a
behavior modification tool internationally and then get things he wants
from other countries. And mostly what he wants is for
them to set up factories over here. So, you know,
from a working class point of view, Donald Trump is
the best president ever, even though you know he's a
billionaire who might not care personally about forty year old
high school educated white guys or anything. But what he's
doing by demanding that, yeah, I mean, it's it's the
best thing that's ever happened for working class people because
factories coming back at the same time the border is closed,
by the way, means much higher wages for people who
work with their hands and it's about time, you know.
So that that basically is I'm not sure how much
of this is part of Trump's plan, you know, in
his mind, but it's working out that way. He's using
tariffs to impose behavior change on countries, mostly by making
them build factories here, and that's helping working people. So
as a process, it's excellent. I hope it keeps up.
Speaker 4: Yeah, so what do you think of the prospects of
a next in Greenland?
Speaker 1: Yeah, well, you know, you elect a real estate guy,
and you've got to expect him to be out there
trying to buy undervalued real estate. So I mean he's
talking about taking over the West Bank in Gaza now too, right.
Speaker 3: Good good water views there, man, harder heart.
Speaker 1: Because it is you look at it. You just look
at picture of it, and it is prime real estate.
And that's probably warm water there too. Right. What sea
is that is that I'm having trouble picturing. It's not
the Pacific. If it's the Mediterranean, that strip of Mediterranean
real estate is probably worth more than the GDP's of
all the countries in that region. So yeah, you know,
Trump is looking at that, and that's what he's thinking
is Okay, we'll line hotels up, hotels all longer. It'll
be Miami Beach, but with you know, with better water,
you know. And so yeah, that's that's not a surprise.
It's probably a humanitarian catastrophe if they just kick out
the people who live there or who live there prior
to the bombing. But it probably is his thought process.
And you know, there's no way to talk about the
Middle East without running up against the humanitarian crisis part
of it all, because you know, so many people are
suffering and laughing about Trump turning that into a you know,
a resort or something like that is maybe over the line,
but I think it is what he's thinking, and hopefully
it's done in a way that isn't horrendous, you know,
because anything can happen, but hopefully it's not. It's not
the worst case scenario.
Speaker 4: Did you see the look on netna Who's face when
Trump mentioned that, Like, they did not talk about this.
I'm convinced because Netanyahu's jaw like dropped to the floor.
Speaker 1: And but oh he thought that was his resort community project,
you know, and took it away from him.
Speaker 4: Yeah, so hey, I can see the buildings, you know,
wall to wall with Trump on them, right, they'll have
the Trump logo on and they called it what they
call it, the maragaza or Gaza lago, gaz a lago,
what a world real estate development.
Speaker 3: But they have to do something different.
Speaker 4: I think the point is, you know, you can't solve
a problem by the same level of thinking that created it.
And when you try to solve something and it doesn't
work and you keep doing the same thing over and
over again, you got to do something different. So maybe
that's the point of this whole exercise. What is your
biggest surprise about Trump's second term here?
Speaker 1: How much they've done? I mean, because they just went
for it. I thought I was afraid that it was
going to be the same, a sloppy thing that he
did first time around, even though they seem to be
more on top of it. But this time geez, you know,
it's there is so much happening that it's hard to
keep track of. And I the point, there's really no
reason for it to end anytime soon, because there's so
much stuff to be done. Like you said, we haven't
even started on the Defense Department yet.
Speaker 3: So that's the best pity of them all.
Speaker 1: Well, get it, get a peace deal in Ukraine, continue
the peace process, you know, continue the the the end
of hostilities in the Middle East, and then start auditing
everybody in sight and that you know, oh that that
could take a whole year, and it would be the
most amazing year in American political history. So I'm very
pleasantly surprised so far. And let's see where it goes.
Speaker 4: You No, Musk says he thinks he can say four
billion dollars a day. I think we're up to close
to a billion, which would be three hundred and sixty
five billion that had cut off the deficit. And don't forget,
that's money we would just have to borrow into existence.
Speaker 3: So if you can top off.
Speaker 4: A billion a trillion and a half annual spending, and
we get a few hundred billion in tariffs, we cut
some other taxes, you know, all of a sudden, our
deficit's almost gone. If we sell off a bunch of assets,
like the forty five percent of California that the federal
government owns, or the ninety percent I think it is
of Nevada and Utah.
Speaker 3: You know, like, what is.
Speaker 4: The purpose for the federal government to own that land?
There's none that I can see that it's not being productive.
There's no benefit to the FED zoning half of California.
Speaker 1: Well, it's you know, a lot of the land that
they owned. I use live in Idaho, and I can
speak persand about that. A lot of that was national
wilderness areas, and that is forests where humans don't go,
and just we're preserving it. That's a good thing. You know,
I don't want the whole world to be developed, and
you know, roads and gas stations and you know, I
think we have enough strip malls in this world.
Speaker 3: Not plans building it the sheet.
Speaker 1: Yeah, Florida, you know, it might happen that I come
down there and live near you and the not too
just in future, Harriet, And I think you're part of
Florida is a good place to live. But a lot
of other parts of Florida, frankly or you know, the
southern California esque hellscapes because of that, we just overbuild everything.
And if you know, if your world is just strip
malls to the horizon, that's that's not a good thing.
And you know about the federal budget deficit in general,
I would say that's that's a topic for controlling our expectations,
managing our expectations, because you know, Social Security is the
Social Security payments to legitimate recipients are untouchable, and so
is Medicare payments to people who actually qualify that's untouchable.
You can, you can squeeze some of the fraud out
of there, but the vast majority of entitlement payments are
not going to be cut. The Defense Department, that's kind
of a bipartisan boondoggle, you know, with the empire is
something that I don't think you could get a congressional
majority for dramatic cuts just because everybody makes money from
the military budget and a lot of people love the
US military empire. You know, you combine those guys and
you get a majority of voting majority in Congress. So
so well yeah, but self interest is self interest through
these guys, and I don't I don't see them voting
against big military budgets. So that doesn't leave that much.
And a lot of what's left over is school lunches
and you know, stuff that you can't really legitimately cut,
so you.
Speaker 3: Know, voucher it'll be uh yeah.
Speaker 1: But well you know so, but so let's let's close
down the educational Department and USAID and and bank that money.
And and so maybe maybe we cut a few hundred
billion a year out of the federal budget. And I
mean that it's a cut still, you know, the federal
budget never goes down, and if it goes down a
little bit under these guys, that's all we can hope for.
So my point is, we still have that gigantic financial
crisis out there, and Dooge will not stop that from happening. Uh,
And then we have to do the gold standard or
the big quin standard, you know, the monetary reset, whatever
we end up doing. So that's all baked in the cake.
But that doesn't mean we can't do a lot of
really good things in the meantime that make the US
Empire a lot less intrusive around the world and the
government a lot less you know, blatantly immoral. So all
of that could happen, and that means you and I
have a lot of good stuff to talk about until
the assassinations start happening.
Speaker 4: Yeah, well, got a you know, certain things just happen
the way they happened. Hey, here's a you know, Trump
is the first pro crypto president we've ever had HERA
here's a trick question for you. Who is the largest
holder of bitcoin in the world.
Speaker 1: I want to say microstrategies, but you might be implying
the federal government.
Speaker 4: Yes, two hundred eight thousand bitcoins as of December, or
two hundred and seven thousand. Multiply that times one hundred
thoy it's twenty billion. Imagine if they really like go
full force behind it and it becomes like a two
hundred trillion dollar market.
Speaker 3: You know, there's our deficit right there.
Speaker 1: See that that is an interesting pump and dump, right
The federal government could set up that National Wealth Fund,
Sovereign Wealth fund, buy bitcoins just at the margin, because
that would send everybody else into bitcoin, and bitcoin would
go up with the US government having to spend too much,
then dump it or several trillion dollars and then throw
that at the national bet And okay, that could happen.
I think that's completely within the the ethical boundaries of
Trump and his people. You know, doing a pump and
dump with bitcoin.
Speaker 3: Well, I don't have to dump so much. Is just
pay everything off in bitcoin once a while. But that's
a dump billion a coin. You just pay all the
debts in bitcoin.
Speaker 1: Yeah, but that's that is effectively a dump. I mean
you're using your spending a dumb Yeah. Well, well, I
mean you pump it, it goes up to a trillion
dollars per coin, or well, you know, a billion dollars
per coin billion. Yeah, and then then when you spend it,
that's dumping it. And so you can only get you
can only do that with a little bit at the
margin because everybody else was our front running you unless
you lied about who was doing the dumping, you know,
and then they could do that too. They could say, hey,
it must be Saudi Arabia. It's not us. We're still buyers.
America is still buying bitcoin.
Speaker 3: You know where they got that two hundred and seven
thousand bitcoins from?
Speaker 1: But was it from Mount GX or someplace.
Speaker 4: From ross Olvery silk ros Oh, okay, confiscated it. Obviously
they were a lot cheaper.
Speaker 3: You know. I wanted to talk to one other one
other thing. I want to talk to you about Sam
Bankman Freed. All right. I don't think the guy.
Speaker 4: Was a thief in the sense of like a Ponzi
or a Bernie made off. I think he was kind
of probably on the spectrum and kind of like didn't
really know how to run a business, and he didn't
really appreciate you got a bucket here and a bucket there,
and a Wall Street, you got custody and all that.
And you know, he got its twenty five year sentence
for like, I don't think he knows what he did.
And all of his creditors got paid off one hundred
and twenty cents on the dollar. And that's after the
shenanigans that go on with the US trustee and the law.
Speaker 3: Firm and all of that.
Speaker 4: I mean, everybody is feeding on that carcass. So for
somebody to get paid one hundred and twenty cents on
their claim is unheard of.
Speaker 3: I mean, it never ever happens.
Speaker 4: Rarely will it happen where sometimes they will just go
bankrupt to do a liquidation because there's some lurking contingent
liabilities out there and they just say, enough is enough,
let's just liquidate this guy. But if we don't go bankrupt,
we could be personally liable. We go bankrupt, distribute the
proceeds the creditor, the contingent creditors, the contingent liabilities get screwed.
Here man, like you read Michael Lewis's book, and you know,
then you see the bank, the law firm who took
over the bankruptcy, and I don't want to name names
because I don't want to get on their list. I
used to do business with them once upon a time,
and they're a deep state. As it gets. My theory is, yeah,
he was vulnerable and they and he was definitely doing something.
Something's wrong, But this is a deep state takeout to
let Wall Street take over Crypto. He was a genius trader,
John like he could arbitrage in his head multiple markets,
and you know, he's making like billions of dollars just arbitraging.
He got in over his head and then they went
and dissected him.
Speaker 1: Yeah, well, okay, I don't know anything about the details
of that, so I don't have an opinion about whether
it was a crime or just an autistic kid who
didn't understand what he was doing. I will say that
the woman that he had as his CEO of the
related hash fund, she was on TV a lot, and
no way in hell was that for some the CEO
of a hedge fund for real, right, she would just
some strange little chick that he picked up somewhere and installed.
Speaker 4: Yeah, I think she pleaded guilty. I don't remember she
turned against him, and I think she got sentenced. But
I'm going to do some more research on it because
I am pretty confident that they knew he was underwater.
They struck right at that point, and Wall Street picks
up the pieces, John. Cryptos are the greatest gold rush
ever for Wall Street. Think about that, because they don't
have to worry about a company making its quarterly numbers
and you know how much of a dividend they're going
to pay a little things like that that historically they
were you know, supposed to be watching. Now it's just
what new product, what new etf can we sell some futures,
let's trade and this is the biggest gravy train for
Wall Street and history. And make a prediction here, every
major company like ten billion dollars and over will create
their own cryptocurrency. They'll tie it to the dollar, but
basically they will pay you in their crypto. If you're
a vendor, you can go convert it to money or
somebody else's crypto. Probably Elon Musk will start with it.
This is what Facebook and Zuckerberg wanted to do, Like
five six years ago, and Jenet Yellen said no, you can't,
and that was the end of it.
Speaker 1: But this is going to happen, jaw Well Trump will say, yeah,
go ahead and do it. Okay. Two things about that.
One is that what you're talking about is tokenization, where
you basically slice and dice everything. It's like securitization, but
instead you create some kind of a crypt do entity
that uh and and and we're doing it for everything,
and not just digital assets but real world assets. By
the way, real world assets is now a name for
a subcategory of investment assets carved out because they exist.
There's actually a category that are defined as existing, and
that's there, that's their defining trait because a lot of
these other things do not exist. And yeah, well, I
mean the cryptos have no physical existence and printed on well,
I mean, I don't know what it means for the value,
but literally they don't have a physical existence, and yet
they're they're investment vehicles and instruments and things like that.
So what what what you were talking about where everybody
creates their own crypto and ties it to the dollar
means the infinite increase in the money supply, so that
means spike inflation for all kinds of things, and it'll
be a lot of the low quality and cryptos that
just cease to exist, you know, their value will plunge
to zero, that'll be their intrinsic value, and then a
lot of other things will be caught in the in
the kind of whirlwind that that creates. So we're headed
for a kind of peak complexity that is just going
to be breathtaking, and nobody can predict how it's going
to play out, except you know, in pockets, if not
all the way across the board, it's going to be
incredibly inflation.
Speaker 4: Ray, can't you see? Remember banks used to create their
own money. They used to have gold in the vault
in theory, and they their money was deposit receipts. So
for JP Morgan Chase to create a trillion dollar crypto
currency that you know, you can deposit in JP Morgan,
they'll pay you interest on their own currency, right, and
you can use it to buy other stuff, buy stuff
in the market whatever, Right, I mean, how can they
not do this, John, how.
Speaker 3: Can they not?
Speaker 1: They'll do it and everybody will do it. And all
of those things that are created are forms of money.
They're like dollar bills or you know, a bank statement
balance or something like that for treasure. But if everybody's
creating them, that means the money supply is going up
at an exponential rate. So we get this massive inflation,
which is to say, most of those things will plunge
to zero in value, and you know, it might end
up with a couple of cryptos and gold and silver
the only thing standing at the end of this. So
we need to be paying attention to this because it's
it's destructive for most people. You know, this is going
to be something that sucks people in and destroys their lives,
so we have to be very careful.
Speaker 3: Hey, can you picture they say, you can have your
money and deposit at JP Morgan and you'll pay us
a fee for the privilege of storing it here. Or
you can convert to.
Speaker 4: JP's whatever and you'll make ten percent interest.
Speaker 3: Which one would you.
Speaker 4: Prefer, right, and then they'll have all the dollars and
everyone else'll have the crypto. When you charge on a
JP Morgan credit card, you can pay it with your
JPS writ your mill automatically with JP's. Maybe you'll get
a discount if you use jps right.
Speaker 1: Yep, yep, and people will fall for that and be destroyed.
Speaker 3: You know.
Speaker 1: It's the people who trust the system that end up
losing when something like this happens. So we need to
make sure we keep that message out there that never
ever trust anything you don't understand completely, because the reason
you don't understand it is because they're lying in some
way about it.
Speaker 3: Yeah, because they don't want you to, because your ignorance
is not bliss. I think we'll leave it at that.
Speaker 4: Make sure you go over to John's substack Rebino dot
substack dot com and the link is in the show
notes of this interview on Financial Survival Network dot com
in the show notes of this interview. While you're there,
please sign up for your free newsletter. Like over seventy
thousand other FSN members have, we're getting like thousands of
sign ups per week for some reason. John, and Hey,
we will talk to you again soon. Be well, all right, Kara,
take care.
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