Speaker 1: The idea of bitcoin becoming the way out of debt
is one that is new, fresh and probably should be reviewed.
But I'll tell you, if America comes out of their
debt crisis, look out and look out. The American consumer
is going to be benefited from this.
Speaker 2: You're listening to Carrie Lutz's Financial Survival Network, where you
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Speaker 3: And welcome. You are listening to and watching the Financial
Survival Network. I'm your host, Carrie Lutz. Well got our
GDP numbers in, But how relevant are they because that's
the past. We're living now and we're looking towards the future.
Dallas Mothers is with us now, noted financial expert Dale.
Great to have you back on this show. So what
about those GDP numbers?
Speaker 4: Good to be with you, Carrie.
Speaker 1: GDP numbers are important when we look at reports, but
when we're thinking about what we've got to do in
the future, they're not nearly as important. It would be
like trying to drive your vehicle by looking in the
rearview mirror. This is the GDP of twenty twenty four
quarter number four, and it showed a little bit more
growth than we were expecting. But it doesn't take much
observation to realize, Carrie, that things are starting to slow
just a little bit. And I think that should be expected,
at least in the short term due to the mandate
that was granted to the Trump administration.
Speaker 3: Yeah, so, speaking of which, you think that those is
actually going to make a difference.
Speaker 1: Yeah, it's certainly going to make a difference in the
way that the market reacts, which it already has. Things
that tariffs are going to probably make more of a
direct difference on Dose itself. It will likely do a
pretty good justice for the American taxpayer. They're certainly fraud, waste,
and abuse in the American government. And you ask any
individual before Elon Musk became the head of Dose, you
ask any individual who has any stake in the game,
who actually pays into the tax system, I think that
they would also agree that there is some fraudulent, if
not fraudulent, at least some Yeah, if not fraudulent they
would at least say that there is some inefficiencies in
the way government spends money. I've heard it for once
mentioned and forgive me if the numbers are on Kerry,
But we've talked a little bit about this maybe in
other shows. You give a dollar to government, you get
back sixty seven cents. You give a dollar to the
private sector and you get back a dollar thirty. The
investment is clear, a lot of this stuff needs to
be shifted to the private sector. So when it comes
to DOGE, I think it's certainly going to help us
at home. When it comes to the tariffs, we're going
to have a little bit of short term pain for
some long term gain, but it's worth it, all right.
Speaker 3: Well, this reminds me of Captain Lewis or Luis or
Reno in the movie Casablanca, when he turned around and
somebody said, you know they're gambling.
Speaker 4: He turns around the goods. There's gambling here. I'm shocked.
There's bro there's waste, there's theft. I cannot believe it here, Sure,
how can this be?
Speaker 3: Dale?
Speaker 4: Like, what's going on here? How did this happen?
Speaker 1: Yeah, you know, we shouldn't be sending money overseas until
the people who are still suffering in North Carolina and
suffering in California and Florida from our own natural disasters,
they should be taken care of as if nothing happened, Carrie,
and so stopping that immediately day one is something that
has been a very good success story for the American taxpayer.
When it comes to doge itself, that they are probably
attacking a lot of things that are making people uncomfortable.
Not to jump into conspiracy theories here, but when you
know that the judge is close to you, you might
squirm a little bit more. I believe Elon Musk has
even gave reference to that in the past, where he
said when he moved to Twitter, don't quote me on
the words, but he said something to the effect of,
when I took over Twitter, the ones who were not
doing much were the first ones to start screaming when
I started cutting.
Speaker 4: What was it? He asked them?
Speaker 1: He asked a lot of government employees to name five
things that you did last week, and many of them
struggled to come up with five things.
Speaker 4: Working a nerve of him.
Speaker 1: Yeah, So now granted, Thank God for our public servants,
thank God for those who who do the lord's work
and in certain areas that a private company could not
do because there's just no profit in it. I mean firefighting,
for instance, or ambulance services. But when it comes to
some of this, US aid AI duh that when you
start looking through the numbers and you start looking through
what's actually done, it should have been done a long
time ago.
Speaker 4: Yeah, and here's here's my take on it.
Speaker 1: Uh, you know, and I try my best not to
be political, if you will, for my clients, because we
have a lot of clients from both sides of the aisle,
and whether you're a Republican or Democrat, you want to
retire successfully. But if this was a Democratic president with
a D beside their name, we would have an entirely
different story hitting the news waves right now, an.
Speaker 4: Entirely different story.
Speaker 1: And it's it's kind of it's it's sad, it's disarming,
and it's also why I think Americans are waking up
to the fact that, you know, both sides is slant
their news, but one side has become so slanted that
they're almost horizontal.
Speaker 4: Yeah.
Speaker 3: I don't know if you caught the NPR and the
corporate for Public broadcasting people and the hearing on Capitol
Hill yesterday. In fact it was, but these were some
pathetic human beings like news to them is just a
form of propagandizing, and it's a way to further your
your own interests and the interests of whomever you believe in,
whomever you're with, and it's really not a means to
inform and enlighten the public so that the public is
more apt to be able to comprehend important issues and
come to informed opinions about it.
Speaker 1: Right, the government funded propagandat you nailed it. And you know,
one thing we have to be careful of is the
folks that have common sense, you know, not left or
right leaning, not left or right bigots, if you will,
where we're sickophants of one particular individual, just common sense.
We have to be careful not to let this pendulum
swing so far to the other side that we begin
to turn a blind eye to what's going on on
our side of the aisle. Whether you're a Republican or Democrat,
you should be able to look at someone like Elon
Musk and champion his entrepreneurship and champion his achievements. And also,
thank god that somebody whether it's Hillmor or whoever it is,
is taking a look at the inefficiencies of government. And
government is a creature in its own right, carry it
will consume and get larger, very very unlikely that it
gets smaller on its own watch, and so someone has
to take the reins, put a leash on it and
hold it tight. Another thing we've got to see, and
you know, a good luck on this, but the rule
makers have to change the rules to where they only
get to make the rules for a length of time.
We have to see term limits enacted. Term limits should
have been a thing.
Speaker 4: You know.
Speaker 1: I'm from Kentucky, born and raised, big Kentucky Wildcats fan.
We got a big game coming up, you know, the
march madness is upon us. Here's what I know. Our
Kentucky senator who sat on the same aisle, the same
side of the aisle as I vote, our own Kentucky
senator was a senator for longer than the Queen of
England was queen.
Speaker 4: And that's just not right. This type of.
Speaker 1: A padding of pockets, perhaps to stay in or jerry mandering.
It happens on both sides, and we can't become sycophants
to the point where we look at one and say
that's right, and look at the other and say that's
all wrong. If you have the ability to say one
good thing about somebody, you're probably looking at it from
a bad perspective.
Speaker 4: Mm hmmm.
Speaker 1: Yeah.
Speaker 3: Well, the polarization bad news for sure. But and you
talk about these guys, it's the Hotel California. They can
check in any time they want, but they can never
leave because they never will leave.
Speaker 1: Right, It's so true, so true, you know, speaking to
the point of kind of reframing government. We're talking to
our clients right now, Carrie about the idea of a reversal. Now,
the I think it was the Treasury Secretary came on
and said, we are going through a detox. That's how
he related this. It's a detail.
Speaker 4: Yeah, I laughed.
Speaker 1: It's an incredible analogy. But it's hard for my clients
and a lot of you know, people of let's say affluence,
to maybe relate to what that means. They realize the
message is clear, short term gain and a lot to
win on the back end of this when we get
through it. But if we maybe relate it to taking
a car that's driving one hundred miles an hour, and
we've got to go in reverse because we have given
a mandate to change courses. We don't like which way
we're going, We're going the opposite direction. We have to
pump the brakes first, pumping those breaks. It's not easy,
and it's certainly not what we've always done. We got
to throw the thirty year old handbook out, this playbook
that we've called geopolitical plays from for twenty five plus years,
starting with allowing China in the World Trade Organization and
then allowing them to run the gambit and and have
no rules, not honoring our profit, our own intellectual property.
Speaker 4: They have ran over us for years.
Speaker 1: And one message that has not changed with Donald Trump
is that message.
Speaker 4: And he's a tied true one, so true.
Speaker 1: He also what I love carry is that he values
and knows the value of the American consumer. He knows
that every country in the world wants to put their
product in front of our eyes, and he's charging a
premium for it. It's the first time we've done something
like that in a long time. I do think it's
going to work. Is it the way I would do it?
Probably not. Is it the way that it probably should
be done? To give us peace and calm. Probably not,
but he took his mandate and he's doing it immediately.
And to be real frank with you, I think we
do come out better because of it.
Speaker 3: Hey, I like in the US market to like a supermarket.
You know, all those products that wind up there, and
they wind up on certain ends of the aisle close
to the cash register. They didn't just get put there.
The people that produce them pay the supermarket fees. In fact,
that's where a lot of the supermarket's fees actually come from,
is product placement. And to have the government be doing
that is something I would have never thought could actually happen.
Speaker 4: But here we are.
Speaker 3: And you know, just that the Golden Passport, the Golden
Visa is pure genius. I mean, that could bring in
a trillion dollars sure, writing its own you know.
Speaker 1: And Saturday Night Live and these these satire skits can
have a heyday with that. But the bottom line is
it makes sense and it's not something we've ever done before. Again,
thirty year old playbook, rip it up and throw it out.
This type of action is needed because if we continue
to do what we've always done and expect a different result,
it is the definition of insane. Insane, and I love
your analogy of product placement.
Speaker 4: That's it. That is exactly what he is forcing individuals
to do.
Speaker 1: And places like China, you know what I'll love about
jumping on say an Amazon site or Tamu or whatever
it is, wherever you shop. And you know, granted all
of those have their downfalls, but you can get things
for cheap. But those things come cheaply because they are
ripped off and duplicated versions of someone's hard sweat equity.
They poured into a product, they send them to China
and now immediately there's a duplicate of it. And if
we were the ones producing the product, we wouldn't like
it either.
Speaker 3: And the oftentimes so from China, it's manufactured with slave labor.
So so ju about the debt, I have a theory
the strategic Bitcoin reserve. It's like, there's no possible way
to pay off thirty seven trillion, right, shay not be done.
They just can't be done. However, with cryptocurrency, what if
the US was actually sitting on a lot more crypto
than any of us know about, like several million coins,
and by pumping this up, if they can bring it
to the point where our crypto holdings.
Speaker 4: Are worth more than our debt.
Speaker 3: They could just do a crypto to debt swap and
there goes all of our debt. It's gone, problem solved.
There is no other way to solve this other than
a default, an inflationary depression, or some type of renegotiation,
and none of those, none of those options are attractive.
Speaker 4: Yeah, a good old pump and dump pretty much.
Speaker 3: But you know, hey, the US government's just a mob anyway, right.
Speaker 4: That's true? What is it?
Speaker 1: Charles Ponzi himself would be proud of Social Security, jealous.
Speaker 4: He would be jealous. He would be jealous.
Speaker 1: The idea of bitcoin becoming the way out of debt
is one that is new, fresh, and probably should be reviewed.
But I'll tell you, if America comes out of their
debt crisis, look out and look out, the American consumer
is going to be benefited from this. I am curious
about this potential getting rid of income tax. I've even
heard recently two hundred and fifty thousand dollars deduction essentially
a standard deduction being kind of proposed. And you know,
you have to watch what you hear because it's not
always true. But the idea of abolishing the income tax
would also usher in an economic boom like we've never seen.
It's the only problem with that is where we get
in our revenue from.
Speaker 3: Well, so well as we know a lot of it,
we don't need a lot of these employees are useless
and a lot of waste. But still there are things
like the military, the courts. Even carving it down to
its most basic functions, it's still got to be paid for.
I think the key is a national sales tax and
the ability to just then it would be even more
of a boom because it would encourage savings and people
would have a choice where they want to.
Speaker 4: Pay that tax or not. Kerrie, tell me when you're
running and where you're running, and I'll vote for you.
Speaker 3: Man.
Speaker 4: I love running sales. I'm running from it, not to it.
But Liz me.
Speaker 1: Sales tax idea is perhaps the most remarkable idea, and
it's one that I have been behind for many, many years.
It definitely helps alleviate this foreign income loop O or
the illegal immigrants perhaps not paying their fair share. If
you consume, you pay, If you consume, you pay. We
also are ceeing is at Florida if I'm not mistake
at Florida is abolishing the property tax perhaps the last one.
Speaker 3: Okay, there's the money coming from there? Again, where's the
money going to come from?
Speaker 4: Yeah?
Speaker 3: Yeah, I don't see it, you know. But at least
they're talking about the right things. For so many years, Dale,
we didn't even talk about the right things.
Speaker 4: So true Lake NPR mode.
Speaker 1: That is such a good point because this has now
become the front and center. We have a democratic governor
now talking about lowering taxes in the state of Kentucky,
and it's all because he's pushing for a white House bid.
You are likely to see the idea of tax cuts
and tax savings and renegotiating again, not with the thirty
year old playbook, but with a new, fresh playbook becoming
the center aisle.
Speaker 4: Item of discussion.
Speaker 1: And that's a good thing, win win for the American
consumer taxpayer.
Speaker 4: It's a win win, all right.
Speaker 3: So Dale, just tell us where we find you, how
we connect with you and on the web.
Speaker 1: Yes, sir Carrie, you can go to rdswealth dot com.
We are a full service, comprehensive financial planning firm helping
retirees who are looking for a little bit less of
a rollercoaster ride in retirement. We believe that you should
enjoy the optimism of the stock market, but be completely
uncorrelated with the market downturns. We help clients and retirees
do just that. Rdswealth dot com our phone number two
seven zero six hundred plan all right and.
Speaker 3: Now it's all in the show notes of this interview
on Financial Survival Network dot com and O yes, when
you go there, sign up for your free newsletter as
over seventy five thousand of you have done. Ye, we're
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Speaker 4: Next day or two. Delle, always a pleasure. Thanks for
stopping by. Thank you Ery, good to.
Speaker 2: Be here, Thanks for listening to carry lets this 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