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Speaker 1: The idea of bitcoin becoming the way out of debt

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is one that is new, fresh and probably should be reviewed.

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But I'll tell you, if America comes out of their

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debt crisis, look out and look out. The American consumer

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is going to be benefited from this.

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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 ever.

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Speaker 3: And welcome. You are listening to and watching the Financial

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Survival Network. I'm your host, Carrie Lutz. Well got our

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GDP numbers in, But how relevant are they because that's

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the past. We're living now and we're looking towards the future.

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Dallas Mothers is with us now, noted financial expert Dale.

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Great to have you back on this show. So what

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about those GDP numbers?

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Speaker 4: Good to be with you, Carrie.

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Speaker 1: GDP numbers are important when we look at reports, but

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when we're thinking about what we've got to do in

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the future, they're not nearly as important. It would be

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like trying to drive your vehicle by looking in the

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rearview mirror. This is the GDP of twenty twenty four

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quarter number four, and it showed a little bit more

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growth than we were expecting. But it doesn't take much

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observation to realize, Carrie, that things are starting to slow

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just a little bit. And I think that should be expected,

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at least in the short term due to the mandate

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that was granted to the Trump administration.

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Speaker 3: Yeah, so, speaking of which, you think that those is

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actually going to make a difference.

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Speaker 1: Yeah, it's certainly going to make a difference in the

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way that the market reacts, which it already has. Things

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that tariffs are going to probably make more of a

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direct difference on Dose itself. It will likely do a

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pretty good justice for the American taxpayer. They're certainly fraud, waste,

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and abuse in the American government. And you ask any

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individual before Elon Musk became the head of Dose, you

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ask any individual who has any stake in the game,

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who actually pays into the tax system, I think that

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they would also agree that there is some fraudulent, if

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not fraudulent, at least some Yeah, if not fraudulent they

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would at least say that there is some inefficiencies in

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the way government spends money. I've heard it for once

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mentioned and forgive me if the numbers are on Kerry,

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But we've talked a little bit about this maybe in

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other shows. You give a dollar to government, you get

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back sixty seven cents. You give a dollar to the

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private sector and you get back a dollar thirty. The

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investment is clear, a lot of this stuff needs to

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be shifted to the private sector. So when it comes

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to DOGE, I think it's certainly going to help us

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at home. When it comes to the tariffs, we're going

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to have a little bit of short term pain for

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some long term gain, but it's worth it, all right.

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Speaker 3: Well, this reminds me of Captain Lewis or Luis or

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Reno in the movie Casablanca, when he turned around and

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somebody said, you know they're gambling.

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Speaker 4: He turns around the goods. There's gambling here. I'm shocked.

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There's bro there's waste, there's theft. I cannot believe it here, Sure,

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how can this be?

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Speaker 3: Dale?

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Speaker 4: Like, what's going on here? How did this happen?

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Speaker 1: Yeah, you know, we shouldn't be sending money overseas until

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the people who are still suffering in North Carolina and

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suffering in California and Florida from our own natural disasters,

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they should be taken care of as if nothing happened, Carrie,

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and so stopping that immediately day one is something that

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has been a very good success story for the American taxpayer.

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When it comes to doge itself, that they are probably

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attacking a lot of things that are making people uncomfortable.

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Not to jump into conspiracy theories here, but when you

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know that the judge is close to you, you might

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squirm a little bit more. I believe Elon Musk has

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even gave reference to that in the past, where he

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said when he moved to Twitter, don't quote me on

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the words, but he said something to the effect of,

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when I took over Twitter, the ones who were not

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doing much were the first ones to start screaming when

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I started cutting.

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Speaker 4: What was it? He asked them?

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Speaker 1: He asked a lot of government employees to name five

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things that you did last week, and many of them

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struggled to come up with five things.

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Speaker 4: Working a nerve of him.

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Speaker 1: Yeah, So now granted, Thank God for our public servants,

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thank God for those who who do the lord's work

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and in certain areas that a private company could not

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do because there's just no profit in it. I mean firefighting,

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for instance, or ambulance services. But when it comes to

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some of this, US aid AI duh that when you

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start looking through the numbers and you start looking through

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what's actually done, it should have been done a long

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time ago.

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Speaker 4: Yeah, and here's here's my take on it.

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Speaker 1: Uh, you know, and I try my best not to

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be political, if you will, for my clients, because we

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have a lot of clients from both sides of the aisle,

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and whether you're a Republican or Democrat, you want to

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retire successfully. But if this was a Democratic president with

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a D beside their name, we would have an entirely

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different story hitting the news waves right now, an.

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Speaker 4: Entirely different story.

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Speaker 1: And it's it's kind of it's it's sad, it's disarming,

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and it's also why I think Americans are waking up

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to the fact that, you know, both sides is slant

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their news, but one side has become so slanted that

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they're almost horizontal.

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Speaker 4: Yeah.

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Speaker 3: I don't know if you caught the NPR and the

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corporate for Public broadcasting people and the hearing on Capitol

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Hill yesterday. In fact it was, but these were some

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pathetic human beings like news to them is just a

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form of propagandizing, and it's a way to further your

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your own interests and the interests of whomever you believe in,

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whomever you're with, and it's really not a means to

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inform and enlighten the public so that the public is

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more apt to be able to comprehend important issues and

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come to informed opinions about it.

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Speaker 1: Right, the government funded propagandat you nailed it. And you know,

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one thing we have to be careful of is the

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folks that have common sense, you know, not left or

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right leaning, not left or right bigots, if you will,

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where we're sickophants of one particular individual, just common sense.

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We have to be careful not to let this pendulum

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swing so far to the other side that we begin

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to turn a blind eye to what's going on on

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our side of the aisle. Whether you're a Republican or Democrat,

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you should be able to look at someone like Elon

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Musk and champion his entrepreneurship and champion his achievements. And also,

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thank god that somebody whether it's Hillmor or whoever it is,

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is taking a look at the inefficiencies of government. And

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government is a creature in its own right, carry it

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will consume and get larger, very very unlikely that it

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gets smaller on its own watch, and so someone has

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to take the reins, put a leash on it and

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hold it tight. Another thing we've got to see, and

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you know, a good luck on this, but the rule

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makers have to change the rules to where they only

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get to make the rules for a length of time.

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We have to see term limits enacted. Term limits should

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have been a thing.

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Speaker 4: You know.

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Speaker 1: I'm from Kentucky, born and raised, big Kentucky Wildcats fan.

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We got a big game coming up, you know, the

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march madness is upon us. Here's what I know. Our

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Kentucky senator who sat on the same aisle, the same

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side of the aisle as I vote, our own Kentucky

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senator was a senator for longer than the Queen of

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England was queen.

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Speaker 4: And that's just not right. This type of.

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Speaker 1: A padding of pockets, perhaps to stay in or jerry mandering.

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It happens on both sides, and we can't become sycophants

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to the point where we look at one and say

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that's right, and look at the other and say that's

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all wrong. If you have the ability to say one

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good thing about somebody, you're probably looking at it from

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a bad perspective.

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Speaker 4: Mm hmmm.

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Speaker 1: Yeah.

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Speaker 3: Well, the polarization bad news for sure. But and you

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talk about these guys, it's the Hotel California. They can

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check in any time they want, but they can never

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leave because they never will leave.

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Speaker 1: Right, It's so true, so true, you know, speaking to

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the point of kind of reframing government. We're talking to

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our clients right now, Carrie about the idea of a reversal. Now,

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the I think it was the Treasury Secretary came on

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and said, we are going through a detox. That's how

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he related this. It's a detail.

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Speaker 4: Yeah, I laughed.

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Speaker 1: It's an incredible analogy. But it's hard for my clients

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and a lot of you know, people of let's say affluence,

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to maybe relate to what that means. They realize the

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message is clear, short term gain and a lot to

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win on the back end of this when we get

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through it. But if we maybe relate it to taking

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a car that's driving one hundred miles an hour, and

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we've got to go in reverse because we have given

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a mandate to change courses. We don't like which way

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we're going, We're going the opposite direction. We have to

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pump the brakes first, pumping those breaks. It's not easy,

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and it's certainly not what we've always done. We got

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to throw the thirty year old handbook out, this playbook

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that we've called geopolitical plays from for twenty five plus years,

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starting with allowing China in the World Trade Organization and

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then allowing them to run the gambit and and have

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no rules, not honoring our profit, our own intellectual property.

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Speaker 4: They have ran over us for years.

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Speaker 1: And one message that has not changed with Donald Trump

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is that message.

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Speaker 4: And he's a tied true one, so true.

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Speaker 1: He also what I love carry is that he values

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and knows the value of the American consumer. He knows

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that every country in the world wants to put their

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product in front of our eyes, and he's charging a

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premium for it. It's the first time we've done something

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like that in a long time. I do think it's

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going to work. Is it the way I would do it?

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Probably not. Is it the way that it probably should

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be done? To give us peace and calm. Probably not,

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but he took his mandate and he's doing it immediately.

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And to be real frank with you, I think we

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do come out better because of it.

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Speaker 3: Hey, I like in the US market to like a supermarket.

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You know, all those products that wind up there, and

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they wind up on certain ends of the aisle close

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to the cash register. They didn't just get put there.

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The people that produce them pay the supermarket fees. In fact,

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that's where a lot of the supermarket's fees actually come from,

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is product placement. And to have the government be doing

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that is something I would have never thought could actually happen.

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Speaker 4: But here we are.

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Speaker 3: And you know, just that the Golden Passport, the Golden

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Visa is pure genius. I mean, that could bring in

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a trillion dollars sure, writing its own you know.

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Speaker 1: And Saturday Night Live and these these satire skits can

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have a heyday with that. But the bottom line is

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it makes sense and it's not something we've ever done before. Again,

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thirty year old playbook, rip it up and throw it out.

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This type of action is needed because if we continue

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to do what we've always done and expect a different result,

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it is the definition of insane. Insane, and I love

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your analogy of product placement.

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Speaker 4: That's it. That is exactly what he is forcing individuals

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to do.

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Speaker 1: And places like China, you know what I'll love about

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jumping on say an Amazon site or Tamu or whatever

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it is, wherever you shop. And you know, granted all

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of those have their downfalls, but you can get things

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for cheap. But those things come cheaply because they are

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ripped off and duplicated versions of someone's hard sweat equity.

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They poured into a product, they send them to China

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and now immediately there's a duplicate of it. And if

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we were the ones producing the product, we wouldn't like

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it either.

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Speaker 3: And the oftentimes so from China, it's manufactured with slave labor.

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So so ju about the debt, I have a theory

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the strategic Bitcoin reserve. It's like, there's no possible way

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to pay off thirty seven trillion, right, shay not be done.

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They just can't be done. However, with cryptocurrency, what if

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the US was actually sitting on a lot more crypto

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than any of us know about, like several million coins,

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and by pumping this up, if they can bring it

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to the point where our crypto holdings.

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Speaker 4: Are worth more than our debt.

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Speaker 3: They could just do a crypto to debt swap and

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there goes all of our debt. It's gone, problem solved.

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There is no other way to solve this other than

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a default, an inflationary depression, or some type of renegotiation,

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and none of those, none of those options are attractive.

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Speaker 4: Yeah, a good old pump and dump pretty much.

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Speaker 3: But you know, hey, the US government's just a mob anyway, right.

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Speaker 4: That's true? What is it?

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Speaker 1: Charles Ponzi himself would be proud of Social Security, jealous.

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Speaker 4: He would be jealous. He would be jealous.

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Speaker 1: The idea of bitcoin becoming the way out of debt

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is one that is new, fresh, and probably should be reviewed.

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But I'll tell you, if America comes out of their

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debt crisis, look out and look out, the American consumer

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is going to be benefited from this. I am curious

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about this potential getting rid of income tax. I've even

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heard recently two hundred and fifty thousand dollars deduction essentially

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a standard deduction being kind of proposed. And you know,

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you have to watch what you hear because it's not

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always true. But the idea of abolishing the income tax

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would also usher in an economic boom like we've never seen.

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It's the only problem with that is where we get

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in our revenue from.

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Speaker 3: Well, so well as we know a lot of it,

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we don't need a lot of these employees are useless

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and a lot of waste. But still there are things

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like the military, the courts. Even carving it down to

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its most basic functions, it's still got to be paid for.

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I think the key is a national sales tax and

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the ability to just then it would be even more

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of a boom because it would encourage savings and people

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would have a choice where they want to.

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Speaker 4: Pay that tax or not. Kerrie, tell me when you're

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running and where you're running, and I'll vote for you.

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Speaker 3: Man.

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Speaker 4: I love running sales. I'm running from it, not to it.

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But Liz me.

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Speaker 1: Sales tax idea is perhaps the most remarkable idea, and

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it's one that I have been behind for many, many years.

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It definitely helps alleviate this foreign income loop O or

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the illegal immigrants perhaps not paying their fair share. If

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you consume, you pay, If you consume, you pay. We

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also are ceeing is at Florida if I'm not mistake

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at Florida is abolishing the property tax perhaps the last one.

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Speaker 3: Okay, there's the money coming from there? Again, where's the

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money going to come from?

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Speaker 4: Yeah?

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Speaker 3: Yeah, I don't see it, you know. But at least

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they're talking about the right things. For so many years, Dale,

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we didn't even talk about the right things.

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Speaker 4: So true Lake NPR mode.

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Speaker 1: That is such a good point because this has now

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become the front and center. We have a democratic governor

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now talking about lowering taxes in the state of Kentucky,

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and it's all because he's pushing for a white House bid.

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You are likely to see the idea of tax cuts

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and tax savings and renegotiating again, not with the thirty

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year old playbook, but with a new, fresh playbook becoming

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the center aisle.

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Speaker 4: Item of discussion.

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Speaker 1: And that's a good thing, win win for the American

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consumer taxpayer.

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Speaker 4: It's a win win, all right.

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Speaker 3: So Dale, just tell us where we find you, how

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we connect with you and on the web.

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Speaker 1: Yes, sir Carrie, you can go to rdswealth dot com.

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We are a full service, comprehensive financial planning firm helping

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retirees who are looking for a little bit less of

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a rollercoaster ride in retirement. We believe that you should

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enjoy the optimism of the stock market, but be completely

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uncorrelated with the market downturns. We help clients and retirees

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do just that. Rdswealth dot com our phone number two

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seven zero six hundred plan all right and.

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Speaker 3: Now it's all in the show notes of this interview

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on Financial Survival Network dot com and O yes, when

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you go there, sign up for your free newsletter as

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over seventy five thousand of you have done. Ye, we're

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up to seventy five thousand now and got one going

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out in the.

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Speaker 4: Next day or two. Delle, always a pleasure. Thanks for

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stopping by. Thank you Ery, good to.

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Speaker 2: Be here, Thanks for listening to carry lets this Financial

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Survival Network your solution to today's trying times. For the latest,

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00:18:57,200 --> 00:19:03,000
go to Financial Survivalnetwork dot com. Financial Survival Network now

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more than ever