Speaker 1: And where I got out of Congress was that we
can't do that because we'd have to lay off fifty
thousand people. So it's never about what's right or wrong
or about the people. Government is not Santa Claus. They're
not here to protect you. They could care less. This
is all about than retaining power. That's it.
Speaker 2: You are listening to Carrie let'sa's Financial Survival Network where
you get valuable information. You just can't find anywhere else
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Speaker 3: And welcome you are listening to and watching the Financial
Survival Network.
Speaker 4: I'm your host, Carrie Letz. Martin Armstrong is with us.
Speaker 3: Now we're going to be talking about Trump's first two weeks,
the tariffs, what is happening, the inevitable recession? Isn't inevitable?
And is there anything that can be done? Are the cycles?
The cycles rule? And that's it. Bartie. It's great to
have you back on the show. So quite quite a
show for the past two weeks.
Speaker 1: Huh oh yeah, very interesting the Chinese curse. Right, maybe
we live in interesting times.
Speaker 3: Especially if you're an FBI agent where you work for
the Department of Justice.
Speaker 4: You got real interesting times there. Huh.
Speaker 1: Well, they from the getting what you know, they deserve. Actually,
and I don't know, it's people have to understand about
government agencies. The same thing applies to NATO et cetera.
I mean it just take NATO as an example, and
they were created when there was communists and communism failed.
We really don't need NATO anymore, all right, And I've
seen the internal memos. How do we remain relevant? The
only way they remain relevant is by scaring the hell
out of everybody. Oh, Russia's going to come in, Ukraine falls,
They're going to take the rest of Europe. I mean,
it's just so send us money. They got to keep
their jobs. That's what this is all about. And every
agency is the same. I've said before. Back in the eighties,
you know, after the eighty seven you know crisis, the
crash there, the SEC was blaming the CFTC. SEEFTC was
BLAMINGCC you know, and I said, look, we should just
merge the two. And I said, everybody has one regulator
and where I got out of Congress was that we
can't do that because we'd have to lay up fifty
thousand people. So it's never about what's right or wrong
or about the people. Government is not Santa Claus. They're
not here to protect you. They could care less. This
is all about them retaining power.
Speaker 4: That's it. I don't think they're.
Speaker 1: All these agencies that you're going to see those going
into it's going to be the same thing.
Speaker 3: Yeah, you think does is going to fail because right now,
as of last night, it looks like they eliminated the USAID,
which has been a deep state slush fund for over
sixty years. In fact, it was started by Kennedy during
the Cold War and it's really outlived its usefulness. But
now we find out they're funneling money, laundering money all
over the planet. They're feeding the prosecutors that were waging
law fair against Trump. They were doing it the Wuhan lab.
They funded Bill Crystal, I mean, the immigrants coming in,
the illegal alien invasion. They've been financing that. So it
looks like they're finished now maybe it's the first of
a lot more. I mean, Marty, can they really cut
a trillion dollars off the budget.
Speaker 1: Oh they could, so will they be assassinated and trying
to doce it?
Speaker 4: Yeah? I mean yourselves.
Speaker 1: Look just look at the testimony. A day before nine eleven,
you had Rumsfeld. I think it was some two trillion
dollars was missing from the Pentagon budget, right missing, he
testified before Congress. Oh this is outrageous. I promise we'll
start an investigation. You know tomorrow. What happens the plane
to hit the Pentagon hit the very room where all
the records were. Oh, so sorry, we can't do that now,
I mean, how you know? And they still say the
Pentagon can't account for trillions of dollars? How you know?
Speaker 4: Did they failed the last seven audits? Right?
Speaker 1: Yeah? I mean, look the irs comes in the audit.
You're this is all I can't account for that. I
don't think you're going to remain in business very law.
Speaker 4: You'll be gone.
Speaker 1: Yeah, they'll lock you up, they'll you know, shut your
things down. You can't have SYLG.
Speaker 4: You know.
Speaker 1: Sorry, I didn't have time to do my accounting. You know,
the excuses for them are substantially different. For us, we
would be looking at jail time.
Speaker 3: Yeah, well, maybe some of them. Are you know there's
purges taking place at the FBI and the DOJ. And
based on your personal experience with these these agencies, I'm
sure you're taking a little happiness in that.
Speaker 1: People don't understand how it works. I mean, they're up
for sale. And in my case, I went to this
reverse profer or. They're telling you why you should take
a deal. Admit, Oh, we know, we didn't take any money.
I mean, no shit, Okay, how do you get a
billion dollars out of the bank and nobody knows where
it is. It's impossible, all right, you had to wire
it out. They didn't get it out of one dollar bills,
you know, But they're paid for it by the banks.
That's it, you know, the bank stole the money you
any reason. In my case, I met with my clients.
I said, you have to sue the bank. They did,
then they put a gag order on me to prevent
them from helping my own clients. Yeah, I mean, it
all to protect the bank, you know. And it's then
the bank gets to pleate guilty. Nobody goes to jail,
no fines, nothing, no fine, just return the money that
the stole. When I asked the lawyer in New York.
I said, you know, how come no bank wherever goes
to jail. Quite frankly, he said, you don't ship where
you eat.
Speaker 3: Uh And and you know, the Southern District has always
been the focal point.
Speaker 1: It's one of the most corrupt in the country. You
can even google us versus Zicatello. The judge gets caught
changing the transcripts. Now, if you or I changed court records,
it's a jail sentence.
Speaker 3: As attorney, certify the accuracy of what you're producing in
New York State.
Speaker 1: And the Second Circuit simply says, we know this is
a practice in the Southern District in New York. It's
rather unique. We suggest that they stop, but we don't
think we have the power to order judges to obey
the law. I mean, you just can't make up this stuff,
you know, as a Trump walked into with that. The
judge wasn't even a judge. He was a prosecutor acting
as a judge. How does he get the most important
case in New York City history as an acting judge.
Speaker 3: I mean, it just you can't make the difference. The
difference is that Trump won, you know, he beat them
all how did he do it?
Speaker 1: When he won the election? They were really scrooge. But
I could tell you what they were saying in DC.
They brought all this stuff against him. Oh if we
make him a fill and no, we will vote for him.
This is what they really believed.
Speaker 4: And the opposite effect.
Speaker 1: Yeah, it's you know, even in my case. I did
a conference in twenty eleven because they wanted to do
this movie and I was told you'd be lucky if
twenty five people show up. Anymore. We had over a
thousand people and I was shot and I asked him,
I said, what why did you come? I said, was
really stunned, and they said I wanted to make sure
it was really you. Anybody can put it on this thing,
just says Martin Ormstrong. I said, boor, you guys really
don't trust government, do you? It is in no way,
But you know, I never thought of it from that perspective.
Speaker 4: It was like Marty, Yeah, you're a beacon.
Speaker 3: I mean I see the comments pop up on YouTube,
and you know they're controlled opposition. You know, don't just
say this stuff. They're still but evidently you have a pass.
Now they're through with you. They're onto other things. I
guess right, well, I think that.
Speaker 1: It's it's gotten down to the point they just want
to know what the computer says anymore. Before it was
like we want the code. Now I'm not giving you
the code. And I think they thought that they could
just you know, yeah, you know, it's first of all,
you give them the code, that's the only thing you have. Yeah,
then what good are you afterwards? And then you know,
you end up in the ditch.
Speaker 4: Do you have any regrets?
Speaker 1: No, I mean I think everything worked out the way
it was supposed to work out. You know, my lawyer,
Richard Oltman, they went after their lawyers to remove them,
and his parting words to me was you should have fled.
I said, what you should have went to England. They
would have had to put on a real case to
get you back. And it says New York is just
forget it. They practiced law their way. It's different than
the rest of the country. That's why when they charged
Trump up there, I said the same thing, He's going
to get to see what New York really is. It's
just successful.
Speaker 4: You know.
Speaker 3: You know, your case, Marty Ryan reminds me a lot
of the Jason you know. Yeah, that they pulled on
you is exactly what they did to them.
Speaker 4: Holding him with no charges. Yeah, holding him.
Speaker 3: You know, guy's a cop, is a licensed FFL dealer.
Speaker 4: I mean this article just appeared. It was nauseating.
Speaker 3: They raided his house seven times marty and he was
charged with a misdemeanor trespassing. He never went in to
the Capitol building. He was on the West Lawn after
they opened the gates up, the guards. The police opened
the gates up, and he just walked over there and
took pictures. They confiscated his video and the things that
these j sixers went through is identical to your your
journey here.
Speaker 1: Look, I've seen them. You wouldn't believe what they do.
I mean, there is several months your trials with people
in jail for conspiracy to murder. The judge. They prosecuted
I think two or three mafia families and after the
first one, the judge goes, oh, yes, I know this case.
This is where we don't have a body and nobody
knows actually who did it? Right? Correct? They just give
a theory. All they did was find in his car
at the airport. They don't have a body. They didn't
know if he really left or not. And they came
up with three different theories for each mafia family why
they would like to have killed them. And you just
go down the line. I mean people think, oh, well,
they can listen to my phone calls. I have nothing
to hide. Oh really, what they do is they you
you're on the phone, say bring me honey, pick up
a you know, pizzas on the way home. That's a
code word for keys of cocaine. In my vast years
of experience, this is what goes on. They just lie
about absolutely everything. They don't need anything.
Speaker 4: So how do we add is Trump?
Speaker 3: Uh basically, how does he clean up the judicial system?
If we don't fix that, then nothing else really matters here.
I mean, look, they're judges that put the j sixers
in prison. You know, it was just shocking. They've denied
every single motion that they made, and you know, even
to the point where they wouldn't allow their lawyers from
out of state to represent them. So people were forced
to either use the public defender, which is just like saying,
just take me away to jail, or spend hundreds of
thousands of dollars on local council there. And look, I've
been in a lot of cases. It's like there's never
an issue as long as a lawyer is in good
standing to have him admitted prohac vice. It's called you know, right.
Speaker 4: And they wouldn't do it. I mean, it was so
corrupt there. And only.
Speaker 1: You can you can deal with this is that one.
No prosecutor should be allowed to indict anybody. It should
go to a committee. The committee has to vote to indict,
because what happens is that prosecutor indicts you finds out
that you're innocent. And there are numerous cases like this
in Boston and they awarded a jury over one hundred
million dollars to a family because they prosecuted somebody they
knew was innocent and he died in prison. Really all right,
and it probably becomes they will not admit a mistake
because then their personal career is affected. And court appointed
lawyers absolutely worthless, worthless. They are just paid to do
whatever the government says. And you know, look, General Flynn,
he's got out a documentary the same thing. You do
not hire a law firm from the same city. Why
in my case I was had Tender green Blatt in
New York. They're all talking about how the judges acting illegally,
and I said, well, file a motion to recuse. Oh
we can't do that. Why oh, because the rest of
the judges will prejudice our firm. So, in other words,
because of your firm, I can't get good representation. Frank
Watron hired a firm, you know, Kecker out of San
Francisco to defend him in New York. Then that firm
made a motion to recuse. We had the same judge
and went up to the to to recuse the guy.
The judge is Richard Owen. You can also google that.
The things that he ended up with, you know, hint dementia.
He would forget who the heck I was.
Speaker 3: Hey, I'll never forget the first time I went into
federal court, you know, as an attorney, and there's a
guy ahead of me arguing emotion and he says to
the judge, judge, this is the law in this case.
And the judge looks at him, and he takes off
his glasses and he stares at him for a minute
and he says, young man, in this courtroom, I.
Speaker 4: Am the law. Yeah.
Speaker 3: This is It's like, oh my goodness, man, this is
like a different world than I'm used to. You know,
there's no you know, federal judges appointed for life, and
they take that very seriously, which means they're all carried
out in a box. That's how they leave the Federal bench. Look, it's.
Speaker 1: My case is probably a record. If I went up
to the Supreme Court again, two justices would have to
retuce Satima's side of my word was on my case
and Kagan. Kagan was the Solicitor General when I finally
got to the Supreme Court. She's the one that told
New York you better release this guy. I'm not going
to argue. How are you keeping somebody in prison on
an eighteen month statue for seven years? We're not charges.
So she had she ordered, I'm not going to argue
for you. They had to release. That was it. If
I never got to the Supreme Court, they would have
simply let me die in a cell. That's just the
way you were kid. Wow, when your lawyer in New
York tells you be careful when you walk into your cell,
always turn the light on before you go in, I said, why,
because they will try to kill you. They put baby
oil in the light bulb you go into the cell.
They locked the door, You turn on the light and
explosi you and burned the desk. I said, oh, that's
very nice. I mean it's ruin Epstein just where they
put him. I knew there's nobody that is going to
have any possibility of bringing those people on to the
stand to testify. Bill Clinton, et cetera. Not going to happen.
Speaker 4: It's days were dumb going this.
Speaker 1: If he was guilty or not, there was never going
to be a trial for that guy. Never.
Speaker 3: So let's talk investing gold, stock market cryptos because Trump
seems to be in love with cryptocurrencies.
Speaker 1: Look, Trump, I, in all honesty, is living in an
ancient world. His tariffs, all this stuff. It's back with
the old economic theories that you know, we put on
towers to protect domestic jobs. Cryptocurrency, sorry, it's not economically feasible.
All right. He seems to have been bought into this
all this nonsense. And some of you want to let
him know. The bitcoin is actually created by the intelligence agencies.
There's a white paper on it that was put out
in nineteen ninety six, so we know where there was
never any fictional Japanese guy they created it. I mean,
if some guy created blockchain. Why isn't he out there
were suing for you know, hundreds of millions of dollars
for for rights. I mean it's uh, it was created
by it came out basically the NSA, and the whole
purpose of it is it's been governments, you know, a
long time dream. I hand you one hundred dollar bill,
they don't know where it came from. I give you
one hundred bitcoin, you know where I got it from?
And everybody else down the line? Did everybody pay their
taxes on the you know, they went, you know, ten
percent every time it trained you do a transaction that
original one hundred dollar bill, after ten people they had
they own one hundred percent of them.
Speaker 3: Yeah, so all right, so stock market, he said, sixty
five thousand by twenty thirty two, you're sticking with that.
Speaker 1: Yeah, Look, when it was twenty we said we're going
to know. Our first target was forty we rostic.
Speaker 4: I remember forty five. What you happen? You said between
twenty two and twenty four.
Speaker 1: What you have to understand is that sixty five thousand
forecast is not just the stock market. You're also forecasting
the purchasing power of the of the currency. You know
if the currency drops by fifty percent value, all right,
you're in eighty thousand. Because everything has a international value
to it. And so we have to understand that we're
in a in a cycle and nobody's been able to
ever beat the business cycle. I mean that was marked
his idea. Keynes also came up with it will smooth
it out. Arthur Burns, who was the FED chairman when
Brenton Woods collapsed, he came out and said, look, the
business cycle always wins, all right. Paul Voker put out
a book, Rediscovery the Business Cycle in seventy eight. Paul
came out. I even spoke to him. He says, look,
your model is correct. I agree, there's an an eight
year business cycle because everything's involved in it, from war
to climate, you name it, fiscal mismanagement by government. But
we have to understand that the crash that is coming
is going to be in the debt markets. It's government.
It's not going to be the stock market. Everybody keeps
looking at oh a sockomart is going to crash like
it did in in nineteen twenty nine. U has had
to balance budget, right, we don't have that today. This
is why the central banks are in trouble, pot raises
interest rates to try and fight inflation and creates more
Why because basically the government is the biggest bart win
a room. So we have a trillion dollars and interest
expenditures this year, then next year you got to pay
interest on that trillion besides the debt. It just multiplies, right,
you know, the debt were more than double by the
time we get to there.
Speaker 3: Okay, So your concept of like passing out like stock
investment certificates to cash out the debt, is that viable?
Speaker 4: Can that be done?
Speaker 1: Yeah? Sure, that's the only way to get out of this.
Speaker 4: But that's the market will blast off, right.
Speaker 1: Well, yeah, look, you got thirty four ty dollars in
government debt. That's just in the US, all right. If
that wasn't there and they could only invest in the
private sector, your mortgage rates would be a lot lower
because you're competing with the government, crowding out, and the
government's going to you know, a bank is going to say, well,
they're triple a, why should I give it to you
at the same rate. You gotta give me a premium
to give you a mortgage, all right, They're competing with
everybody small businesses, homeowners, et cetera. You eliminate that government debt.
That money would then be freely invested privately. It won't
be just all the stock market, but in real estate
et cetera. Everything will benefit. You'll create more jobs.
Speaker 4: So it just you're printing more money or how does
this work? Exactly?
Speaker 1: Well, Actually, if we had printed the money instead of barrow,
the debt would be at least half what or we're
at now. Why mainly because when you borrow it, you're
paying interest on it, and it's just multiplying, all right,
at eight percent, you double your your the debt within
less than less than ten.
Speaker 4: Years interest on all right.
Speaker 1: Yeah, it's it's complicated.
Speaker 4: You know.
Speaker 1: They basically borrowed rather than printing because of an old theory.
And these are the theories that go back to when
we were on a gold standard, et cetera.
Speaker 4: If we.
Speaker 1: Effectively just borrow the money, we're taking money out.
Speaker 4: Of the system. All right.
Speaker 1: But if you had a one hundred dollar you know
e bond and you went to the bank in the sixties,
say kenya, I borrow fifty dollars against the answer was no,
it was illegal. So after Bretton woods. Debt is now
just money that pays interest. You went trade futures, you
can post t bills. There's no distinction between them. So
the old theory of it's less inflationary to borrow than
the print doesn't work anymore. And now it's more inflationary
because now you're just creating money that pays interest, and
then the other central banks hold it as their reserves.
So then what you know, at times more and half
of the the interest expenditures that we have made go
outside the country, so it doesn't even stimulate the domestic economy.
You know, the economy has grown, it's evolved, and nobody
seems to have paid attention. Yeah, they just still keep
operating under these old theories. And that's my concern with Trump.
You know, he doesn't realize. I mean there's even made
comments that, oh, we want to lower dollar so we
can reduce the trade deficit. Fine, I've been calling that.
I can't tell you how many crises over that same
stupid statement. All right, Yes, I warned them when they
did that in nineteen eighty five. They're going to stand
up and Pasi courts ay're gonna lower the dollar by
forty percent. I wrote to President Reagan, I s you
do this, you're gonna create a crash within a couple
of years. That was the eighty seven crash. Why they
sold a third in national debt to Japan. Now you're
gonna stand up there and say, well, we're going to
lower the value of the dollar by forty percent. You're
they're gonna sell, They're gonna lose money, all right. So
when you talk about lowering the value of the dollar
to help the trade deficit, you're only looking at one aspect.
What about all the money that has come in real estate,
stock market, debt, market from overseas. You lower the dollar,
they lose money, they sell and they leave, right. You know,
it's not just what you can sell. How many more
widgets to somebody else? You know, it is so asinine,
you know, it's hard to imagine how such stupidity and
government exists. Yeah, I mean, these people shouldn't be remotely
close to any legislation that creates anything to do with the.
Speaker 4: Economy, that's for sure.
Speaker 3: So one final question gold silver, Where you know record
high gold prices? Now, are we going over three thousand,
five hundred?
Speaker 4: Where is it it? Look?
Speaker 1: Gold goes up mainly because of geopolitical issues. The big
problem with gold immediately is that as the dour goes up,
gold goes down. All right, So what counter acts that
is war. If you look at gold went from one
hundred nineteen seventy six to four hundred December seventy nine,
but it went from four hundred to eighty seventy five
in the last six weeks. Why all right, because that's
my rush invaded Afghanistan.
Speaker 4: Right I remember?
Speaker 1: All right, so you have to understand that Europe is
being of war drums. Europe is in serious economic trouble.
I was just actually this morning, I was on a
zoom call for Europe and they're basically saying, look, everybody
knows they can feel it in their in their in
their gut. This is going to collapse, you know. They
they can't keep the union going. Uh. There's there's people
are blaming each other. The climate change was nonsense. Germany,
which is the biggest uh economy for the EU, won
the US bull up ward nord Stream one, warpstream two
is there, all right, Uh, but the Germans have voluntarily
cut it off because we have to do sanctions against Russia.
All right, Climate change you know, because of the Japanese
nuclear accident. Merkel goes, oh, no nuclear plants, that's dangerous,
So no nukes, no coal. She puts up all these
windmills that don't create anything, all right. And so Germany
has been the quarterstone of the EO economy. It is
actually shrunk by three percent. So it's between COVID and
all this stuff. You put so many small businesses out
of out of work. This is not working, all right.
And unfortunately, what you're looking at is is as Europe
begins to crumble, that capital is going to flow to
the US and push the dollar up again, as it
did with World War one world War two. So we
have to pay attention here. Gold will eventually go up.
We still see it, you know, going up to like
five thousand. You know, when you look further out, it's
just a function of the value of the purchasing value
of the dollar itself. Uh, even the bricks. A little
over fifty percent of the world population is now under
the bricks. Why because basically our neo cons only look
at war. They's threatened to take They took Russia out
of the Swift system, and that red flag to everybody
else if we don't do as the United States says,
they'll take us out. So then China, China, which held
ten of the debt you have blinking out there saying
if you help, Russia will do this to you. Smart guy,
I mean to they create their chip system and that's it.
Speaker 3: Yeah, all right, Well, I think we covered a lot there,
all of you out there. My book with Martin is
going to be published, hopefully the next two or three weeks.
If you're interested, shoot me an email kl at Kerrie
LUTs dot com, or go to Financial Survival Network dot
com and sign up for.
Speaker 4: Your free newsletter.
Speaker 3: You'll automatically get a couple of chapters for free, and
make sure you go to Marty's site Armstrong Economics dot
com sign up for his daily missives. It's must reading,
and Marty it's if nothing else, it's going to be
interesting for the next four years. We'll see what happens next.
Speaker 1: Well, I'm fortunately going into a worldbie session and it's
not going to bottom until twenty twenty eight. But it's
more than just Trump. This is an economic decline, probably
led by more than Europe than anybody else.
Speaker 4: Most likely makes a lot of sense. We'll talk to
you again soon, be well.
Speaker 1: Be well, Thanks a lot, nice to see you over there.
Speaker 2: Take care, Thanks for listening to carry Letz's Financial Survival Network,
your solution to today's trying times. For the latest, go
to Financial Survivalnetwork dot com. Financial Survival Network now more
than ever,