1
00:00:00,280 --> 00:00:03,759
Speaker 1: And essentially what the politicians want to do both RF

2
00:00:03,839 --> 00:00:09,160
kan Trump with slightly different variations, is to use excess

3
00:00:08,640 --> 00:00:12,720
FED reserves for the Federal Reserve system over the next

4
00:00:12,759 --> 00:00:16,399
five years and by bitcoin, and in addition, revalue gold

5
00:00:16,399 --> 00:00:18,719
certificates currently held by the Fed at forty two dollars

6
00:00:18,719 --> 00:00:21,960
and twenty two cents to current market price. The Fed

7
00:00:22,079 --> 00:00:24,600
ostensibly print the money and then pump it into bitcoin,

8
00:00:24,679 --> 00:00:27,600
and then as bitcoin price rises, they'll liquidate that over

9
00:00:27,600 --> 00:00:29,600
a twenty year period to pay down the national debt.

10
00:00:29,760 --> 00:00:33,560
Speaker 2: You are listening to Carrie Letz's Financial Survival Network where

11
00:00:33,560 --> 00:00:37,000
you get valuable information you just can't find anywhere else

12
00:00:37,560 --> 00:00:41,159
to thrive in today's trying times. You need the Financial

13
00:00:41,240 --> 00:00:46,320
Survival Network now more than ever. Go to Financial Survivalnetwork

14
00:00:46,359 --> 00:00:50,079
dot com and get your free newsletter and gift. Financial

15
00:00:50,200 --> 00:00:53,560
Survival Network now more than.

16
00:00:53,399 --> 00:00:59,679
Speaker 3: Ever, And welcome you are listening to and watch on

17
00:00:59,759 --> 00:01:02,640
the Financial Survival Network. My name is Carrie Lutz, I'm

18
00:01:02,679 --> 00:01:06,439
your host, and we've got Robert Kites with us today.

19
00:01:07,120 --> 00:01:10,239
And Robert, you were just at the Bitcoin conference in

20
00:01:10,359 --> 00:01:14,159
Nashville and you had a surprise visit from none other

21
00:01:14,200 --> 00:01:18,159
than former President Trump and he had some interesting things

22
00:01:18,200 --> 00:01:22,879
to say about about the kleptocurrencies.

23
00:01:22,959 --> 00:01:26,840
Speaker 1: Huh, yeah, there's a lot there. I want to get

24
00:01:26,840 --> 00:01:29,640
into Trump's speech and the Senate build it's going to

25
00:01:29,640 --> 00:01:33,319
be proposed to so mean he gets elected in November.

26
00:01:33,519 --> 00:01:36,680
With regards to using bitcoin and paying off the federal debt.

27
00:01:36,680 --> 00:01:38,319
I'll get to that in just a second. I wanted

28
00:01:38,319 --> 00:01:43,280
to do general general thoughts on that conference real quick

29
00:01:43,280 --> 00:01:46,280
for just a minute. This is the second time I've

30
00:01:46,280 --> 00:01:47,959
gone to the bitcoin conference. The first time I just

31
00:01:48,040 --> 00:01:50,519
navigated around and actually go into the conference. I just

32
00:01:50,799 --> 00:01:53,560
it was a series of networking opportunities, which I think

33
00:01:53,560 --> 00:01:56,120
are super valuable when you're a guy like me heading

34
00:01:56,120 --> 00:01:58,079
for information, trying to understand the market, so on and

35
00:01:58,079 --> 00:02:00,799
so forth. Those to me the more valuable when this

36
00:02:00,840 --> 00:02:02,680
time I actually had an industry pass went in. We

37
00:02:02,680 --> 00:02:04,560
were there the day before the conference for all the

38
00:02:04,599 --> 00:02:07,439
industry guys, and then when the public showed up and

39
00:02:07,560 --> 00:02:08,919
what you noticed, there are a lot more what we

40
00:02:08,960 --> 00:02:11,240
call quote unquote suits at the conference than there were

41
00:02:11,240 --> 00:02:13,039
in years past. I had a buddy with me that

42
00:02:13,080 --> 00:02:15,919
had been to almost every bitcoin conference, and typically this

43
00:02:16,039 --> 00:02:19,479
is a very freedom and libertarian oriented type of deal,

44
00:02:19,520 --> 00:02:22,479
but now you saw black Rock and KPMG and all

45
00:02:22,479 --> 00:02:25,919
these big companies getting involved. So also there's a lot

46
00:02:25,919 --> 00:02:28,800
of lending based upon the current value of bitcoin and

47
00:02:28,840 --> 00:02:29,280
a lot.

48
00:02:29,159 --> 00:02:30,240
Speaker 4: Of changes to mining.

49
00:02:30,280 --> 00:02:34,319
Speaker 1: Minings making a big comeback because as I realized, mining

50
00:02:34,360 --> 00:02:38,000
bitcoin is essentially the way to control its valuations, and

51
00:02:38,000 --> 00:02:41,199
now people are pumping money into the mining sector. One

52
00:02:41,199 --> 00:02:43,680
of the key developers for bitcoin over the years had

53
00:02:43,719 --> 00:02:47,520
the Spreak speech before Trump, and he was talking about

54
00:02:47,599 --> 00:02:50,719
the current threats to the bitcoin environment, and he said

55
00:02:50,759 --> 00:02:53,280
that the biggest threat are mining pools, that they're being

56
00:02:53,319 --> 00:02:56,240
consolidated because it's such a cutthroat industry, and then the

57
00:02:56,800 --> 00:02:59,080
people that own the mining pools now have power over

58
00:02:59,120 --> 00:03:02,199
creation a bitcoin, and therefore there's a lot of centralized

59
00:03:02,400 --> 00:03:05,120
what would called basically printing power in the bitcoin space,

60
00:03:05,520 --> 00:03:08,280
much like the fed owns printing of the dollars. So

61
00:03:08,840 --> 00:03:11,280
the existential threat to bitcoin right now is control of

62
00:03:11,319 --> 00:03:14,400
the mining pools, which the developer admitted, being one of

63
00:03:14,439 --> 00:03:17,240
the senior developers or bitcoin, admitted that was an existential

64
00:03:17,240 --> 00:03:20,240
threat to whether the bitcoin would even survive. So that

65
00:03:20,439 --> 00:03:24,280
was a key takeaway from that conference. Other other issues

66
00:03:24,439 --> 00:03:26,360
layer two solutions if you don't know what that is.

67
00:03:26,680 --> 00:03:29,159
Bitcoin itself is small block. It cannot process a lot

68
00:03:29,199 --> 00:03:31,960
of transactions. They're building a layer two across and that

69
00:03:32,000 --> 00:03:34,800
can be changed. It was a development decision, but they're

70
00:03:34,840 --> 00:03:37,680
processing layer two across the top, which is really a

71
00:03:37,800 --> 00:03:41,000
banking network in my opinion, because it requires liquidity pools.

72
00:03:41,319 --> 00:03:43,039
It's a hubb and spoke model. What's a hubb and

73
00:03:43,080 --> 00:03:45,639
spoke model would be the banking system. People that have

74
00:03:45,759 --> 00:03:49,080
money are going to buy it, Bitcoin be liquidity providers,

75
00:03:49,120 --> 00:03:51,159
and so Bitcoin is going to turn into some sort

76
00:03:51,199 --> 00:03:55,159
of regional banking sort of based currency and not necessarily

77
00:03:55,199 --> 00:03:59,560
the ten million owner decentralized network it was originally envisioned.

78
00:03:59,560 --> 00:04:02,560
As I'm seeing influences in bitcoin that were pulling at

79
00:04:02,560 --> 00:04:05,599
different directions in the original vision. And it was interesting

80
00:04:05,680 --> 00:04:07,800
at the conference talking to people and their feelings on

81
00:04:07,840 --> 00:04:10,520
that about how bitcoin is evolving, on whether it's going

82
00:04:10,560 --> 00:04:13,719
to survive its original designed to be the true decentralized

83
00:04:13,719 --> 00:04:15,960
people's money, whether it's going to be taken over by

84
00:04:16,000 --> 00:04:19,079
financial interests and regulated by the government, and those are

85
00:04:19,120 --> 00:04:22,360
some of the existential threats talked about the conference. Now

86
00:04:22,439 --> 00:04:25,839
on to the Trump Trump made an appearance. RFK did

87
00:04:25,879 --> 00:04:28,800
to two presidential candidates. We had ten different senators. Vivik

88
00:04:28,879 --> 00:04:34,439
Ramaswami was there as well in the in the meeting

89
00:04:34,480 --> 00:04:36,759
right after Trump, but the big news was Trump and RFK.

90
00:04:37,040 --> 00:04:40,680
Trump and RFK both had similar plans for bitcoin, and

91
00:04:41,439 --> 00:04:43,480
Trump was I guess the more widely attended one. They

92
00:04:43,519 --> 00:04:46,079
were at least twelve thousand people standing roomonely watching his

93
00:04:46,720 --> 00:04:50,360
And essentially what the politicians want to do both RFK

94
00:04:50,399 --> 00:04:55,600
and Trump, with slightly different variations, is to use excess

95
00:04:55,079 --> 00:04:59,120
feder reserves for the Federal Reserve system over the next

96
00:04:59,160 --> 00:05:03,160
five years and by coin and in addition, revalue gold

97
00:05:03,199 --> 00:05:05,439
certificates currently held by the Fed at forty two dollars

98
00:05:05,480 --> 00:05:07,920
and twenty two cents to curve market price. Had the

99
00:05:08,000 --> 00:05:11,279
Fed Fed ostensibly print the money and then pump it

100
00:05:11,319 --> 00:05:14,240
into bitcoin, and then as bitcoin price rises, they'll liquidate

101
00:05:14,279 --> 00:05:16,519
that over a twenty year period to pay down the

102
00:05:16,560 --> 00:05:21,600
national debt. Now a couple of issues I have with this. Logistically,

103
00:05:22,120 --> 00:05:24,040
the bill calls for them to buy up to a

104
00:05:24,040 --> 00:05:27,120
million bitcoin over five years, and as you're pumping money

105
00:05:27,160 --> 00:05:30,519
into it in terms of revalue gold certificate cash in

106
00:05:30,639 --> 00:05:33,399
excess federal reserves. You're going to pump that value up,

107
00:05:33,480 --> 00:05:35,040
and they say that they're going to sell it off

108
00:05:35,040 --> 00:05:36,560
to pay for the debt over twenty years, But what

109
00:05:36,600 --> 00:05:39,639
if they don't. Politicians are famous for saying we've got

110
00:05:39,639 --> 00:05:41,360
a solution of the monetary problem, and then they get

111
00:05:41,360 --> 00:05:42,959
that income, they spend it on something else.

112
00:05:43,519 --> 00:05:44,480
Speaker 4: So that's the first issue.

113
00:05:44,519 --> 00:05:46,199
Speaker 1: What are going to be the rock solid provisions that

114
00:05:46,199 --> 00:05:47,480
the money is actually going to be used to pay

115
00:05:47,480 --> 00:05:50,120
down the debt. That's the first concern. The second concern

116
00:05:50,199 --> 00:05:52,800
is if I'm a bitcoin holder and the US government

117
00:05:52,879 --> 00:05:54,879
is going to do the biggest pump into that. Think

118
00:05:54,920 --> 00:05:56,759
of your like a stock, for example, in your Apple

119
00:05:56,959 --> 00:05:58,560
and the US government says we're going to put a

120
00:05:58,600 --> 00:06:00,800
trellion dollars into Apple over the five years, then we're

121
00:06:00,800 --> 00:06:03,439
going to sell Apple stock pay out the federal debt. Well,

122
00:06:03,480 --> 00:06:06,360
Apple stockholders probably aren't going to be too happy. I mean,

123
00:06:06,360 --> 00:06:08,040
on the way up, they would, But if they're holding

124
00:06:08,079 --> 00:06:10,399
it too long and this starts selling off the mass quantities,

125
00:06:10,399 --> 00:06:12,079
it's going to collapse the value of that Apple stock.

126
00:06:12,160 --> 00:06:13,800
Why because all you did was pump a bunch of

127
00:06:13,839 --> 00:06:16,639
money into it. Right, So if I'm a bitcoin holder.

128
00:06:16,639 --> 00:06:18,120
I'm looking at this going is this a good or

129
00:06:18,160 --> 00:06:20,800
a bad thing? That the politicians now have grabbed a

130
00:06:20,800 --> 00:06:22,079
hold of it and said we're going to use it

131
00:06:22,120 --> 00:06:24,560
to our advantage. Well, you have the advantage of them

132
00:06:24,600 --> 00:06:27,000
pumping money into it, but does that legitimize it or

133
00:06:27,000 --> 00:06:29,319
does that set it up for a crash ten fifteen

134
00:06:29,360 --> 00:06:31,680
years down the road. And if it's a crash, how

135
00:06:31,680 --> 00:06:34,279
many people get wiped out in could bitcoin survive that?

136
00:06:34,800 --> 00:06:34,879
Speaker 4: So?

137
00:06:35,040 --> 00:06:36,600
Speaker 1: Is this a way that the government takes out their

138
00:06:36,600 --> 00:06:39,560
competition or is this a way you know, is the

139
00:06:39,600 --> 00:06:42,079
government really looking at bitcoin saying this is a solution

140
00:06:42,639 --> 00:06:44,879
and Bitcoin's going to be a long term strategic asset.

141
00:06:44,879 --> 00:06:46,160
The fact that they have an end date on this

142
00:06:46,199 --> 00:06:48,519
in twenty years, that they're going to buy over funny,

143
00:06:49,000 --> 00:06:51,279
buy over five and liquidate over twenty to me is

144
00:06:51,319 --> 00:06:53,800
a pumpinged up scheme the way I perceive it. And

145
00:06:53,839 --> 00:06:55,879
the other threat is that they're going to revalue the

146
00:06:55,920 --> 00:06:58,560
goal certifics the FED has well. That leads to questions

147
00:06:58,560 --> 00:07:01,319
over how many goals certific doesn't FED have? What domain

148
00:07:01,399 --> 00:07:04,199
do they have over us gold? And are we pilfering

149
00:07:04,279 --> 00:07:08,240
our goal value to pay off the national debt in

150
00:07:08,360 --> 00:07:08,839
this scheme?

151
00:07:10,040 --> 00:07:11,639
Speaker 4: Do we even own the goal? There are all there's

152
00:07:11,680 --> 00:07:13,240
so many questions I have about the scheme.

153
00:07:13,279 --> 00:07:16,519
Speaker 1: It seems to me that if I'm looking at this

154
00:07:16,720 --> 00:07:19,959
as a supercynic of the US government, that I look

155
00:07:20,000 --> 00:07:21,560
at it as a way that the US government is

156
00:07:21,600 --> 00:07:25,160
propping up the dollar through revaluation of gold and pumping bitcoin,

157
00:07:25,800 --> 00:07:29,040
and it's perpetuating the existing system. Now, does this extend

158
00:07:29,079 --> 00:07:31,399
the life of the dollar beyond what people think it

159
00:07:31,439 --> 00:07:34,120
currently is because of all the issues, all the money

160
00:07:34,160 --> 00:07:36,439
printing and all the treasury debt. I don't know, but

161
00:07:36,519 --> 00:07:39,120
it certainly seems like if you're super cynical, you could

162
00:07:39,120 --> 00:07:40,759
look at this as a politician's way of keeping the

163
00:07:40,800 --> 00:07:44,199
existing system. And you know, maybe they're moneyed interest in

164
00:07:44,240 --> 00:07:46,040
there whispering in their ear saying, hey, this is a

165
00:07:46,040 --> 00:07:48,920
great idea. Maybe the money Maybe this takes out the

166
00:07:48,959 --> 00:07:49,759
Fed's competition.

167
00:07:49,839 --> 00:07:50,399
Speaker 4: I don't know.

168
00:07:50,839 --> 00:07:53,040
Speaker 1: But the other hand, with the FED, does the FED

169
00:07:53,120 --> 00:07:56,399
really want to give up their gold certificate revaluation for

170
00:07:56,439 --> 00:07:59,120
this scheme? Do they want to give up their excess reserves?

171
00:08:00,079 --> 00:08:02,839
The FED is independent from the US government. It's owned

172
00:08:03,199 --> 00:08:07,079
by large, large global banks. The stock is owned a

173
00:08:07,120 --> 00:08:10,360
large global blank banks, so it's not owned by the

174
00:08:10,360 --> 00:08:13,720
federal Government's an independent, quasi independent agency. Yes, they appoint

175
00:08:13,720 --> 00:08:16,279
some of the FED chairman, but a lot of the

176
00:08:16,279 --> 00:08:19,079
FED people are part of government appointment.

177
00:08:19,079 --> 00:08:20,480
Speaker 4: They're appointed by the FED itself.

178
00:08:20,519 --> 00:08:23,759
Speaker 1: So there's this weird relationship between the central Bank and

179
00:08:23,800 --> 00:08:25,720
the government. And I'm not sure the Central Bank's going

180
00:08:25,759 --> 00:08:27,920
to sign off on this. So I expect there to

181
00:08:28,000 --> 00:08:30,720
be a lot of friction over this and be like

182
00:08:30,800 --> 00:08:33,559
sandpaper trying to get this pass, and I expect a

183
00:08:33,600 --> 00:08:37,799
big battle. But really it just I guess the biggest

184
00:08:37,799 --> 00:08:39,200
point to take away from this, it looks like the

185
00:08:39,279 --> 00:08:41,759
US government is getting a little desperate with regards to

186
00:08:42,240 --> 00:08:44,360
the current system and evaluation the US dollar and hell

187
00:08:44,399 --> 00:08:46,440
on that has to live, and I think that they're

188
00:08:46,480 --> 00:08:49,240
grasping different things to try to perpetuate that system.

189
00:08:49,279 --> 00:08:50,679
Speaker 4: At least that's my takeaway from it.

190
00:08:51,200 --> 00:08:56,159
Speaker 3: Okay, so in effect, they want we're all holding the

191
00:08:56,200 --> 00:08:59,519
bag anyway, So they rather re be holding a digital

192
00:08:59,600 --> 00:09:02,279
bag than a literal bag.

193
00:09:02,399 --> 00:09:05,200
Speaker 1: Right, Yeah, they're looking for a way to say, yeah,

194
00:09:05,200 --> 00:09:07,360
we overprinted, but we're not actually going to cut spending

195
00:09:07,440 --> 00:09:08,960
or cut any of our programs, We're going to use

196
00:09:09,000 --> 00:09:10,480
these other tools to pay it off over the next

197
00:09:10,519 --> 00:09:13,080
twenty years, to try to extend that dollar over the

198
00:09:13,080 --> 00:09:13,720
next twenty years.

199
00:09:13,759 --> 00:09:14,399
Speaker 4: Well, what does that do.

200
00:09:14,440 --> 00:09:17,679
Speaker 1: It extends the politician's power, because the politicians wouldn't have

201
00:09:17,720 --> 00:09:19,240
the power of the pen that they have without the

202
00:09:19,279 --> 00:09:21,000
dollar backing it up. Because if you can't create all

203
00:09:21,000 --> 00:09:23,679
this money to fund all these war and welfare programs,

204
00:09:23,720 --> 00:09:25,879
you can't make promises to your constituents, you lose your

205
00:09:25,879 --> 00:09:29,519
power as a representative. And so I think there's an

206
00:09:29,559 --> 00:09:31,320
element of that in there. I think there's an element

207
00:09:31,360 --> 00:09:33,720
of they actually want to do something, but there's also

208
00:09:33,759 --> 00:09:35,879
an element of how do we keep the system going?

209
00:09:36,919 --> 00:09:39,000
And that's the part I think that should you know,

210
00:09:39,480 --> 00:09:42,200
American consumers and the electorate should take a look at

211
00:09:42,279 --> 00:09:44,159
with a little bit of a sideline and say, what

212
00:09:44,200 --> 00:09:46,200
are your true motivations? And this needs to be talked

213
00:09:46,200 --> 00:09:48,080
about before we do it, because if we're talking about

214
00:09:48,080 --> 00:09:49,480
revaluing the goal, that needs.

215
00:09:49,240 --> 00:09:52,399
Speaker 4: To be a social conversation amongst the voters.

216
00:09:53,240 --> 00:09:55,240
Speaker 1: This is our war chest and if you're going to

217
00:09:55,279 --> 00:09:57,440
revalue that war chest pumping at a bitcoin and pay

218
00:09:57,480 --> 00:09:59,519
off the debt, that needs to be something American people

219
00:09:59,519 --> 00:10:01,200
are aware of that they're talking about.

220
00:10:02,360 --> 00:10:04,440
Speaker 4: All right, So, but.

221
00:10:05,960 --> 00:10:09,759
Speaker 3: As a practical matter, here road government spending is going

222
00:10:09,840 --> 00:10:12,559
to have to be cut dramatically.

223
00:10:11,919 --> 00:10:14,519
Speaker 1: Right The only way that the US government of the

224
00:10:14,519 --> 00:10:17,519
dollar will survive in tandem, they have to cut spending

225
00:10:17,519 --> 00:10:19,120
and they have to start paying some of it off,

226
00:10:19,480 --> 00:10:21,559
and they are going to have to accept higher rates

227
00:10:21,600 --> 00:10:23,840
on their bonds in order to pay it off and

228
00:10:23,879 --> 00:10:27,639
to liquidate it. And believe this, the rest of the

229
00:10:27,639 --> 00:10:29,440
world does not want to see the dollar crash right now.

230
00:10:29,559 --> 00:10:32,919
There are too many foreign dollar and treasury holders. You know,

231
00:10:32,960 --> 00:10:34,840
that they can't get rid of this stuff fast enough,

232
00:10:34,879 --> 00:10:37,600
but they want a slow decline. And so I think

233
00:10:37,600 --> 00:10:39,320
this is also a way for the US government to

234
00:10:39,480 --> 00:10:43,360
assure some of their foreign dollar and debt holders that

235
00:10:43,399 --> 00:10:45,519
we can keep this system going by this little trick

236
00:10:45,600 --> 00:10:48,120
for twenty years. Don't come in and collapse a dollar

237
00:10:48,159 --> 00:10:50,639
by just dumping treasuries or dumping the dollar. I think

238
00:10:50,679 --> 00:10:53,559
the US government sees the d dollarization that's going on

239
00:10:53,639 --> 00:10:56,399
around the world. They see the alternative currencies, they see

240
00:10:56,399 --> 00:11:00,000
the alternative markets in the Belton Road, and I think

241
00:11:00,159 --> 00:11:03,000
that they're trying to tell their foreign trading partners hate

242
00:11:03,120 --> 00:11:04,480
We're going to have a plan to extend this at

243
00:11:04,519 --> 00:11:05,919
least twenty years, and then we're going to get out

244
00:11:05,919 --> 00:11:07,559
of it somehow. So I think this is very much

245
00:11:07,600 --> 00:11:10,960
a political ploy as much it is potential financial solution.

246
00:11:11,279 --> 00:11:14,000
Speaker 3: Okay, yeah, well I you agree with that. I mean,

247
00:11:14,120 --> 00:11:15,240
what else are they going to do?

248
00:11:15,639 --> 00:11:18,879
Speaker 4: You know? But let's face if.

249
00:11:18,799 --> 00:11:21,519
Speaker 3: The reality is coming, they're not going to be able

250
00:11:21,519 --> 00:11:25,679
to keep spending and doing multi trillion dollar budgets deficits.

251
00:11:26,080 --> 00:11:29,000
Speaker 4: So what are they going to cut? Really, what are

252
00:11:29,000 --> 00:11:29,879
they going to cut?

253
00:11:30,720 --> 00:11:32,840
Speaker 1: Well, they have to cut promises, and that's always the

254
00:11:32,919 --> 00:11:35,399
last thing that a politician wants to do, because promises

255
00:11:35,440 --> 00:11:37,840
are what gets you elected. To be honest with you,

256
00:11:37,960 --> 00:11:40,480
money is the mother's milk of politics in the United States,

257
00:11:40,559 --> 00:11:44,080
and with the Citizens' decision in twenty ten, corporations are

258
00:11:44,120 --> 00:11:46,679
treated as people and they can contribute an unlimited amount

259
00:11:46,679 --> 00:11:48,960
of money to the system. So the system is really

260
00:11:49,000 --> 00:11:51,399
beholden to who has the last money, and so a

261
00:11:51,440 --> 00:11:53,799
lot of decisions made in politics over who has the

262
00:11:53,840 --> 00:11:58,200
most monetary influence. So I don't, you know, until that changes,

263
00:11:58,320 --> 00:12:01,279
I don't see the politicians whine down this system. There

264
00:12:01,279 --> 00:12:04,639
are too many There are too many influences from a

265
00:12:04,679 --> 00:12:09,679
corporate perspective, especially international corporates that can now influence our

266
00:12:09,759 --> 00:12:13,080
legislation based on simply pumping money into the system. And

267
00:12:13,159 --> 00:12:16,759
until that changes, until that's reversed, and until there are

268
00:12:16,879 --> 00:12:19,399
guidelines put on what the Euro's government could spend, maybe

269
00:12:19,440 --> 00:12:22,919
it takes a constitutional amendment, it takes people getting really

270
00:12:22,919 --> 00:12:28,720
pissed off basically and protesting nationwide things like that. I

271
00:12:28,759 --> 00:12:31,279
don't see the current system changing. The incentive is to

272
00:12:31,320 --> 00:12:33,279
keep it going as long as possible until it crashes.

273
00:12:33,320 --> 00:12:35,960
There's no incentive to fix it. I don't think the

274
00:12:36,000 --> 00:12:38,799
way the current system is wired. And that's what a

275
00:12:38,840 --> 00:12:41,759
lot of people don't understand. What's good about the government,

276
00:12:41,840 --> 00:12:43,559
especially at the state and local level, is if you

277
00:12:43,639 --> 00:12:46,480
go talk to your government officials, they'll listen to you.

278
00:12:47,440 --> 00:12:49,879
The people still have a tremendous amount of voting power.

279
00:12:49,960 --> 00:12:51,559
They just don't realize the habit. If they just go

280
00:12:51,600 --> 00:12:54,879
out and talk to the representatives, know that you can

281
00:12:54,960 --> 00:12:58,679
influence what goes on. But it's really going to be

282
00:12:58,720 --> 00:13:00,720
the American people have to speak up and they have

283
00:13:00,759 --> 00:13:02,360
to get to be a part of the conversation because

284
00:13:02,360 --> 00:13:04,360
if they're any and it's not going to happen at

285
00:13:04,399 --> 00:13:06,120
the national level, and national level to me is lost

286
00:13:06,559 --> 00:13:10,399
the money is there. That's a very difficult situation to

287
00:13:10,480 --> 00:13:12,279
change if you're a citizen. But I think you can

288
00:13:12,360 --> 00:13:13,759
change at state and the local level, and I think

289
00:13:13,759 --> 00:13:15,440
that's where people can have to focus on it. But

290
00:13:15,919 --> 00:13:18,279
you know, in terms of what the government and do,

291
00:13:18,720 --> 00:13:22,559
they're down basically to desperation moves. If they were to

292
00:13:22,600 --> 00:13:25,080
cut a bunch of spending, all these special interest would

293
00:13:25,080 --> 00:13:28,799
just pull money from the campaigns and would just put

294
00:13:28,840 --> 00:13:30,679
it to other people that they can elect that would

295
00:13:30,759 --> 00:13:30,960
you know.

296
00:13:31,159 --> 00:13:33,240
Speaker 4: So it's very difficult. It's a very fluid situation.

297
00:13:33,320 --> 00:13:35,519
Speaker 1: It's very difficult for the government now to get control

298
00:13:35,600 --> 00:13:37,960
of the finances at this point. I really think the

299
00:13:38,000 --> 00:13:40,120
finances are more run by the Fed, the Central Bank,

300
00:13:40,159 --> 00:13:44,679
and then the globals than they are anybody in Washington,

301
00:13:44,759 --> 00:13:47,679
d c. Because they just influenced it with their money. Yes,

302
00:13:48,000 --> 00:13:51,039
all right, Hey, so we were talking earlier. China is

303
00:13:51,159 --> 00:13:56,000
in terminal stages of decline. Basically, it's collapsing before a

304
00:13:56,200 --> 00:13:59,159
very eyes. You know, it wasn't bad enough. The real

305
00:13:59,240 --> 00:14:05,000
estate market collapsed they're having these massive floods. I don't

306
00:14:05,000 --> 00:14:07,919
know if you watched them or not, ro but they're biblical.

307
00:14:08,279 --> 00:14:12,399
I mean streets that were like you know, main streets

308
00:14:12,399 --> 00:14:16,960
and cities are now mile wide rivers and like hundreds

309
00:14:16,960 --> 00:14:20,840
of cars are like washed away, like they're corks floating in.

310
00:14:20,919 --> 00:14:25,200
Speaker 4: A bowl of water. It's the most amazing thing.

311
00:14:25,240 --> 00:14:28,879
Speaker 3: And then you know, the system Communist Party is collapsing.

312
00:14:29,759 --> 00:14:34,279
There's a massive loss of faith in the system and

313
00:14:34,679 --> 00:14:35,879
people are just giving up.

314
00:14:35,960 --> 00:14:39,320
Speaker 1: So what's your take? Where does it all end? China

315
00:14:39,360 --> 00:14:41,759
isn't a bit of chaos. You had speculation whether Z

316
00:14:42,000 --> 00:14:46,200
is healthy enough to lead that party. The direction there

317
00:14:46,240 --> 00:14:49,080
would be that Z would be almost like a pseudo emperor.

318
00:14:49,080 --> 00:14:50,639
He would just kind of exist as long as they

319
00:14:50,679 --> 00:14:55,080
needed to have the faith of the political elites. But

320
00:14:55,639 --> 00:14:58,080
whether he's healthy, there seems to be maybe a political

321
00:14:58,080 --> 00:14:59,720
regime change coming.

322
00:14:59,480 --> 00:15:01,559
Speaker 4: Which you know, there is some.

323
00:15:02,960 --> 00:15:06,120
Speaker 1: Unanimity in terms of the CCP's approach to government, but

324
00:15:06,200 --> 00:15:08,080
still having a big change like that would be big.

325
00:15:08,600 --> 00:15:13,200
Then from a fiscal perspective, yet Evergrand and Senation, all

326
00:15:13,200 --> 00:15:15,440
these real estate companies start to blow up. How do

327
00:15:15,519 --> 00:15:18,039
you I'd sure, yeah, one of the things that people

328
00:15:18,039 --> 00:15:20,720
didn't know was something I grapped out in like twenty

329
00:15:20,759 --> 00:15:24,000
twelve thirteen when back when I was writing, is the

330
00:15:24,120 --> 00:15:26,919
Chinese government's printed more currency than the US government has

331
00:15:27,000 --> 00:15:29,720
relative to where they were in the last twelve years.

332
00:15:30,039 --> 00:15:33,480
Speaker 4: We're pikers compared to them. Right.

333
00:15:33,559 --> 00:15:35,600
Speaker 1: They printed a bunch of money, pumped up their markets,

334
00:15:35,600 --> 00:15:37,799
and now you're getting that market collapse because the difference

335
00:15:37,840 --> 00:15:40,039
in China and the US is China's not the world

336
00:15:40,039 --> 00:15:42,600
reserve currency, so when they pumped up their money, it

337
00:15:42,639 --> 00:15:45,000
came back home to reuce quicker. So they haveing major

338
00:15:45,039 --> 00:15:48,039
inflationary issues or stock markets are having issues. There's a

339
00:15:48,080 --> 00:15:50,120
little bit of a crisis right now on the political front.

340
00:15:50,480 --> 00:15:53,679
They're having the environmental issues and they've got a lot

341
00:15:53,720 --> 00:15:54,799
on their plates to deal with.

342
00:15:55,519 --> 00:15:56,039
Speaker 4: Yeah.

343
00:15:56,360 --> 00:15:59,039
Speaker 3: So and at the US dock market keeps going up,

344
00:15:59,080 --> 00:16:02,519
go figure soh you know, yeah, and to fluctuate. Well,

345
00:16:02,600 --> 00:16:06,399
I see here, you know, helping our debt crisis. But

346
00:16:06,480 --> 00:16:09,080
bad for the rest of the world is because there's

347
00:16:09,080 --> 00:16:13,759
so much turmoil happening elsewhere on the planet, especially in China.

348
00:16:15,120 --> 00:16:17,600
All the funds because you can't put everything into gold,

349
00:16:17,919 --> 00:16:20,960
you can't put everything into bitcoin, especially if you're an

350
00:16:21,000 --> 00:16:26,440
institution in China. So they've come up with an number

351
00:16:26,440 --> 00:16:29,639
of ingenious money wandering schemes to get money.

352
00:16:29,320 --> 00:16:31,399
Speaker 4: Out of China into the US.

353
00:16:32,759 --> 00:16:36,080
Speaker 3: Because nobody is putting money in Deutsche Bank in Germany

354
00:16:36,440 --> 00:16:40,919
over the weekend. You know, the system might be precarious

355
00:16:40,960 --> 00:16:44,240
in the United States. But still, if you've got to

356
00:16:44,279 --> 00:16:47,519
put five billion dollars park it for a week, you're

357
00:16:47,519 --> 00:16:48,039
going to do it.

358
00:16:48,000 --> 00:16:48,559
Speaker 4: In the US.

359
00:16:48,639 --> 00:16:50,840
Speaker 3: You're not doing it, or you're going to buy treasuries

360
00:16:50,960 --> 00:16:54,759
right as worthless as treasuries are, they're worth.

361
00:16:54,519 --> 00:16:57,039
Speaker 1: Something right now, right Yeah, I think the dollar being

362
00:16:57,080 --> 00:16:59,559
the world is our currencies. We're in a melt up stage,

363
00:16:59,600 --> 00:17:01,639
serious melt up of the stock markets. You're going to

364
00:17:01,639 --> 00:17:04,200
see a milt up of the dollar valuation a relative

365
00:17:04,240 --> 00:17:05,920
to other currency. Is like looking at the DX Why

366
00:17:06,000 --> 00:17:08,799
not that the dollars buying more from an inflation perspective,

367
00:17:08,799 --> 00:17:11,720
from the consumer's perspective, But the value in that index

368
00:17:11,720 --> 00:17:13,440
of a basket of currencies is going to stay high.

369
00:17:13,480 --> 00:17:17,039
Why Because it's a reserve currency. So we're as you say,

370
00:17:17,160 --> 00:17:19,559
you know, the best looking morse in the glue factory.

371
00:17:19,799 --> 00:17:21,720
You know, people, it's the milkshake theory. People are going

372
00:17:21,759 --> 00:17:24,680
to invest in US treasuries and dollars until it doesn't

373
00:17:24,680 --> 00:17:26,359
make sus to do anymore, and then that money is

374
00:17:26,400 --> 00:17:28,000
going to flow. But the tide's going to go out

375
00:17:28,039 --> 00:17:30,039
on the US and it's all going to flood to

376
00:17:30,079 --> 00:17:32,720
the merging markets. But the merging markets, necessarily in the system,

377
00:17:32,799 --> 00:17:35,279
have to blow up first. Why the US just explorted

378
00:17:35,319 --> 00:17:38,000
all of its inflation, all the doll alt the dollars

379
00:17:38,039 --> 00:17:40,359
are printed when overseas in to these euro dollar accounts,

380
00:17:40,359 --> 00:17:43,000
and your dollar just means any dollar held anywhere overseas.

381
00:17:43,000 --> 00:17:44,400
Speaker 4: It started in Europe, it's all over.

382
00:17:45,039 --> 00:17:47,160
Speaker 1: And those dollars are now starting to flood back a

383
00:17:47,160 --> 00:17:50,519
little bit as these other countries sell off their assets

384
00:17:50,599 --> 00:17:53,319
to deal with all that dollar inflation. That money comes

385
00:17:53,319 --> 00:17:54,920
back and then it blows up the US system, and

386
00:17:54,920 --> 00:17:56,599
then the tide comes back out and it goes So

387
00:17:56,640 --> 00:18:00,559
you're going to see stages to this. And you know,

388
00:18:00,599 --> 00:18:02,480
there was a good book I read a long time ago,

389
00:18:02,519 --> 00:18:04,880
written by a currency and list called the Dollar Crisis,

390
00:18:05,160 --> 00:18:07,240
and he explained how this happened in Japan and the

391
00:18:07,319 --> 00:18:09,200
US in the eighties and nineties. And now it's going

392
00:18:09,279 --> 00:18:11,519
to happen more on a worldwide basis. You know, when

393
00:18:11,519 --> 00:18:14,039
you're printing a bunch of currency, it affects other nations

394
00:18:14,160 --> 00:18:17,240
and their situation affects you, and sort of it this

395
00:18:17,359 --> 00:18:20,119
back and forth until the system kind of you know,

396
00:18:20,240 --> 00:18:21,960
dies out on its own. And it all has to

397
00:18:22,000 --> 00:18:24,279
do with the monetary flows. So I do think that

398
00:18:24,319 --> 00:18:27,000
it's going to temporarily prop up the US system, but

399
00:18:27,039 --> 00:18:28,920
then eventually US system is going to come under pressure

400
00:18:28,960 --> 00:18:32,519
because when all these other countries crash, you know, they

401
00:18:32,559 --> 00:18:36,039
have their crashes, eventually the US has to crash. They're

402
00:18:36,039 --> 00:18:39,839
all interconnected through the global banking and through currencies, they

403
00:18:39,880 --> 00:18:42,440
all hold each other's assets. There's no safe place to go.

404
00:18:42,480 --> 00:18:45,240
There's no Christopher Columbus going to the New World at

405
00:18:45,240 --> 00:18:47,519
this point. We're all in the same boat and it's

406
00:18:47,519 --> 00:18:48,880
going to affect all of us. But I do think

407
00:18:48,880 --> 00:18:51,160
the dollar would be the last one to fall, and

408
00:18:51,200 --> 00:18:52,839
I think this is setting us up for the central

409
00:18:52,880 --> 00:18:55,960
bank digital currency era probably starts in a few years

410
00:18:56,039 --> 00:18:59,240
where all of these FIA currencies and current systems come

411
00:18:59,279 --> 00:19:01,960
under pressure, and then the CBDCs are going to be

412
00:19:02,039 --> 00:19:02,640
rolled out as.

413
00:19:02,559 --> 00:19:05,759
Speaker 3: The potential solution by the central banks. Yeah, the solution

414
00:19:05,920 --> 00:19:09,440
for all that ails the international monetary system. We like

415
00:19:09,519 --> 00:19:12,240
to say it's the best looking house in Baltimore.

416
00:19:12,680 --> 00:19:13,440
Speaker 4: Yeah, the dollar.

417
00:19:14,039 --> 00:19:19,680
Speaker 3: But what's the intrinsic value of all fat currencies? Zero? Right,

418
00:19:19,799 --> 00:19:23,200
and eventually they all return to their intrinsic value. This

419
00:19:23,480 --> 00:19:27,319
will be no different than any other. And Rob, it's

420
00:19:27,359 --> 00:19:28,799
great to have you on. How do we find you

421
00:19:28,839 --> 00:19:30,279
on the web? Where do we look for you?

422
00:19:30,720 --> 00:19:33,759
Speaker 1: So we previously were Goldsilver Pros. We've renamed our channel

423
00:19:33,759 --> 00:19:36,839
to the Freedom Report because we're expanding coverage beyond precious metals.

424
00:19:37,680 --> 00:19:38,880
So we'll be talking about a lot of things, and

425
00:19:38,880 --> 00:19:41,200
we're talking about all the currency markets, the bitcoin, we'll

426
00:19:41,240 --> 00:19:43,440
be talking about macro, We'll be talking about some of

427
00:19:43,480 --> 00:19:45,960
the cultural things that occur. It's interesting that when you

428
00:19:46,000 --> 00:19:49,200
look at changes in economic systems, with that comes changes

429
00:19:49,240 --> 00:19:50,119
in politics and culture.

430
00:19:50,119 --> 00:19:51,119
Speaker 4: So we'll be examining that.

431
00:19:51,160 --> 00:19:53,279
Speaker 1: So you can just look up the Freedom Report on

432
00:19:53,279 --> 00:19:56,920
Twitter and YouTube and you know we're there where where

433
00:19:56,960 --> 00:19:58,920
we've always been. Or look up gold Silver Pros if

434
00:19:58,960 --> 00:20:00,119
you want and you can find us serious.

435
00:20:00,119 --> 00:20:01,359
Speaker 4: Well excellent.

436
00:20:01,480 --> 00:20:04,519
Speaker 3: Hey, well maybe i'll catch you at the next bitcoin conference.

437
00:20:04,559 --> 00:20:07,920
I hope to be there couldn't this time. And if

438
00:20:07,920 --> 00:20:10,200
you've got a question for Rob myself, shoot me an

439
00:20:10,200 --> 00:20:14,000
email KL at Carrie Lutz dot com. We'll get you

440
00:20:14,039 --> 00:20:17,880
an answer. While you're at the site. Financial Survival Network

441
00:20:17,920 --> 00:20:20,519
dot com. Please sign up for your free newsletter Rob

442
00:20:20,559 --> 00:20:21,400
Always a pleasure.

443
00:20:21,640 --> 00:20:23,480
Speaker 4: Thanks for stopping by, Always a pleasure.

444
00:20:23,480 --> 00:20:26,799
Speaker 2: Come on carry, Thanks, thanks for listening to Carrie Lutz's

445
00:20:26,799 --> 00:20:31,880
Financial Survival Network, your solution to today's trying times. For

446
00:20:31,960 --> 00:20:36,720
the latest, go to Financial Survivalnetwork dot com. Financial Survival

447
00:20:36,759 --> 00:20:37,359
Network

448
00:20:37,680 --> 00:20:39,200
Speaker 4: Now more than ever,