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Speaker 1: You know, there is an important moment in history that

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I think that many are missing right now, and that

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is that we have serious headwinds right now in unemployment,

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serious headwinds that we are seeing in national debt, serious

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headwinds that we're looking at in World War three, union shutdowns,

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immigration challenges. As we're forty days or so out from

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this election, which has been one of the most interesting

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times in history, and you know, I'm very concerned that

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we're about to experience our hurricane, but we're going to

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experience it like it was a tornado and we didn't prepare.

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Speaker 2: You were listening to Carrie Letz's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than.

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Speaker 3: Ever, And welcome you are listening to and watching the

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Financial Survival Network.

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Speaker 4: Come here, who was carry Lott.

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Speaker 3: David Scruzeuski is with us now, and David, it's always

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great to have you on the show. So you're extremely

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concerned now about the prospect of a category six recession

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crash hitting US.

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Speaker 4: Now, what makes you think it's immint it?

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Speaker 1: Well, Carrie, I love how you just framed that and

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name the category six. I know you're in Florida just

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dealing with hurricanes there, and we were talking kind of

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in our pre bit. There had this analogy just kind

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of come to me, and that was, of course, you know,

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what's the difference between tornadoes and hurricanes. I mean, they

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both spin, they both twist, they both destroyed. The differences

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A tornado shows up out of the blue was unexpected.

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You get to the basements because that thing's sirening and

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you know the sirens going off in your town. Well,

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with the hurricane, we see the gale force winds begin.

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There's some tropical storm out in the middle of wherever,

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and then something shows up, you know, And I think

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that what I want to talk about today, and I'm

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excited to share, is that, you know, there is an

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important moment in history that I think that many are

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missing right now, and that is that we have serious

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headwinds right now in unemployment, serious headwinds that we are

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seeing in national debt, serious heads winds that we're looking

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at in World War three, union shutdowns, immigration challenges. As

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we're forty days or so out from this election, which

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has been one of the most interesting times in history,

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and you know, I'm very concerned that we're about to

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experience our hurricane. But we're going to experience it like

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it was a tornado and we didn't prepare to see

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even if it's not a category five, and everyone's like, hey,

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we're about to have not a recession, Well, well if

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it's if it's just something less than a five. But

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you leave, everyone leaves their lawnmowers outside. What ends up happening?

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You know, those lawnmowers smashed through everyone's windows, destroy tons

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of things, and the catastrophe is far worse than it

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needed to be because no one was prepared. I think

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that today we are not prepared as a society. I

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think today we are not prepared for what is coming economically,

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and we would rather just you know, get our favorite

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purpose and elected and hold out for dear hope, ultimately

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making situations worse as time goes along. So that's the

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analogy I think that frames our moment in history right now.

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And I think it's apropos just given you know, what

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are our nation's experiencing on the East coast here where you.

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Speaker 3: Live, you will you know, I think it's more like

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you left your doors and your windows open and you

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know the storm is coming, and then you just hope

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it's going to pass you by. But the reality is

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everybody's going to take a hit here, right.

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Speaker 1: True, absolutely, And of course who takes the biggest hit

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is the you know, the the American public, the consumer,

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the taxpayer, we the people. You know, it's it's it's

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it's quite remarkable when you look at where we are

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as a nation and to say that we're strong. You know,

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the consumer today is sitting with record high credit card debt.

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And let's just be clear, no one goes into credit

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card debt because they think that that's a good idea

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or a good way to buy things. They do it

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because that was their only answer, that was the only choice.

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And so you know, we paid off our credit cards

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by the way, in twenty one and twenty two when

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everything was was you know, locked down, and then because

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no one wants credit card debt. But now we blew

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through that two point nine trillion worth of savings and

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we find ourselves at a nation, as a nation in

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a place that's very difficult. So with GDP numbers coming out,

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and you know, we got the rest of the year

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to be seeing how this thing unfolds. I'm very concerned

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Carrie that we're going to see a lot of this

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data deteriorate all at one time. And that's probably why

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the CONFEDI just even cut fifty basis points when I

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believe that they should have never come close to cutting

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fifty basis points here in September.

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Speaker 3: And the odds are good, I knew they were going

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to cut fifty by the way, Jill, Yeah, I'm surprised

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they didn't cut a full hundred basis points, but they

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had to look like they still care about inflation.

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Speaker 1: But all they care about now is the election. That's

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right exactly now. They do care about the election. This

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is the most political bed that I can remember. I

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mean here, they were supposed to cut in July of

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twenty three. They wait fourteen extra months to cut the

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month before the election or the month that everyone starts voting,

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and so of course what's that going to be. That's

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very inflationary carry what happens when interest rates sensitive investments

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like real estate that were already at all time highs.

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It's the most unaffordable time in our nation's history to

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own a home or even rent a home, and so

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you cut rates, therefore giving us the ability to go

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deeper into debt, making the price go higher. How is

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that result going to result? The stock markets at all

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time highs? This is going to end in the worst crash.

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And maybe it is a category six like you were saying,

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And there's not even a category six hurricane, so we'll

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call it a category six financial crash.

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Speaker 4: I haven't seen one.

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Speaker 3: But look, Warren Buffett is dumping stocks like there's no

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tomorrow is what do you make of that?

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Speaker 1: David Well, the smartest investor of our time, Warren Buffett,

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when quoted about asking how to invest in a bull market,

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he said, you know, when the tide comes in, all

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ships rise, but it's only when the tide goes out

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that you find out who's swimming naked? How expected if

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you actually were, and.

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Speaker 3: So beaches all antient the naked investors out there, right.

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Speaker 4: That's right?

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Speaker 1: And guess what we got a lot of exposure here today.

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And what I'm very concerned about is that the anchors

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to the portfolio that people have been depending on For

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all these years they've been saying, hey, I diversify my

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portfolio because when things that our negative happened, I need

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a good anchor. And so that's the bond market. Carrie,

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if I could just say this really quick, I believe

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that the sucker at the card table, the biggest risk

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that we have right now is actually in the bond market.

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And the reason why is that the bond market is

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is not priced according to the risk that we're actually taking.

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There are five different ways that bonds can lose money,

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and people don't know this. They're not aware of this.

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Their portfolio is lost in twenty twenty two because of this,

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because the interest rate change component to that. But the

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United States right now is you know, we've been the

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cleanest shirt in the dirty laundry if you will, like, Okay, well,

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if I got to do something, I guess I'll put

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that one on. But right now that shirt is not

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looking nearly as good because we've got you know, thirty

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five trillion dollars in debt. I mean, we've added twelve

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trillion in four years. I mean it took us twenty

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three trillion, took us two odd fifty years. We did

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this in four twelve trillion dollars. We added another half

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to it. This is a away great train right now.

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If Moody's gets Moody.

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Speaker 4: And they.

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Speaker 1: Rate us down from triple A rated to double A rated,

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could you imagine that mean the third rating agency we

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just had Fitch to it last year? What would happen

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with Moody's The entire system gets downgraded at once. What

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happens when your positions were credit worthy at triple B

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and now they go to double B junk status? That's

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an issue. What happens when everyone, everything that was A

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rated becomes potentially less than or at least questioned, Well,

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then we've got to look at our system in a

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different way, and it causes us to examine a whole

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new light. That light is not currently here. People are

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not currently looking at things in that way. And if

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we begin to evaluate like that, friend, it's going to

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mean that the world is looking at stocks. They're going

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to be looking at their investments from a whole different

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point of view.

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Speaker 4: I couldn't agree with you more.

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Speaker 3: And look, I think the handwritings on the wall trillion

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dollar of new debt every hundred.

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Speaker 4: Days, that's right, that's four trillion a year, and the.

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Speaker 3: Appetite for US debt is diminishing globally, and the rush to.

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Speaker 4: Gold is on. So what do you buy here? Gold? Silver, Bitcoin?

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Is that it?

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Speaker 1: Well, you know, the hard assets things like that are

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going to be much more meaningful. So yeah, I'm a

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big metals investor. I think one of the ways that

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you can do this is you can purchase the physicals,

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or you could actually buy the miners. The miners are

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so on sale right now. I think that as a

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sector they're likely going to lead for the next decade.

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And so you know, if you don't want to buy

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individual names, buy an index, a good index, and leverage

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somebody else's understanding. I think bitcoin definitely is going to

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be going up because the US dollar is being questioned.

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I mean, my belief is that the ten year treasury

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of the United States is at high risk right now

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of losing the world's reserve asset statu Yes, So the

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fact that everyone puts their money in you know, ten

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year IOUs and the US dollar is changing with the

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bricks nations coming out with their new system, et cetera,

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et cetera. So you know where do we go. Well, hey,

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there's a number of places to go. But again, we

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need to examine our anchors. I think now before more

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than ever, we need hedging strategies. We need to understand

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how to dial in our risk inside of our portfolios,

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make sure that we have the right anchors in place

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before the storm shows up. I mean, if I didn't

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do the things on the front end, again, I'm going

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to have a much different outcome as everything gets blown

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away hard. The pun in a recessionary type but timeframe.

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Speaker 3: So he you know, I have to tell you like

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I've been in YouTube the jail for years. I mean,

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I've been in the YouTube goolog of content creators.

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Speaker 4: They've been shuddering me.

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Speaker 3: But recently I've had a number of them blow up

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for me, go viral, not what they used to. But

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my last one was Martin Armstrong Prepare for World War Three,

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gotten over one hundred and fifty thousand views, David Well,

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which means even the YouTube algorithm cannot contain people from

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seeking out this information that to me could be the

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biggest contrary indicator. And it's been a trend that's been

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taking place David over the past six months where their algorithm,

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when I have the right guests on and the right

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headline blows up, and people also rip off my stuff

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and read do it under their own, and they get

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more reviews than I do, which is fine because I

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just want the message to get out there. But you know,

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something is definitely a foot, he says. Gold and bitcoin.

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I think you got to have some. You don't need

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a lot, because it could go up ten like that,

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could be trading one hundred and fifty thousand, two hundred

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fifty thousand like nothing, because right now it's close to

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sixty three or four down A little bit today doesn't

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particularly matter.

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Speaker 1: But I make a cook case for you sure the

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way that I actually like to look at it. I mean,

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I own some gold, but but I'm actually a much

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bigger silver investor. And here's the reasoning. What you know,

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we've all we've all been familiar with this idea of

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the gold standard. Well, the gold standard was fifteen ounces

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of silver is equivalent to the same value as one

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ounce of gold fifteen to one. Well to this morning,

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we're at like eighty four to one, as is the

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actual ratio of silver to gold. If you look at

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the mining ratio, like what are they producing today? It

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is a strained to one at night. And so the

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question is, wow, why is silver not worth more relative

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to gold? And the answer is because our fallen's these

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these wonderful things computers all the it has a commercial

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value to connect circuits. But the new thing that is

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being used silver for the most is solar panels. And

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of course, the quote unquote Inflation Reduction Act given an

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incredible incentive which I took advantage of to to get

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solar and that is a significant use of silver. So

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I personally believe that silver has a far larger growth

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ahead of it than gold does. And so I like

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solar miners and places that are you know, able to

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really capitalize and what will I think be a very

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strong trend. So gold's leading the way to new all

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time highs. That also tells us that inflation is with us,

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because if it takes more interest dollars to buy one

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outs of gold, then that's inflationary. But silver is about

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to break loose here and it's in the past, and

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I believe that ultimately silver is going to go to

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you know, probably fifty bucks at the end of the year,

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one hundred dollars by the end of next year, but

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it could be as high as two hundred at all

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depends on the progression of that brick system, which is

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of course paying forty percent of their currency to gold,

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sixty percent of the GDP of their nation, which of

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course can be manipulated in a number. So let's just

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focus on forty percent of it was gold.

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Speaker 3: I think bricks ultimately will be a failure, but for

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different reasons.

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Speaker 4: But it's still not going to change anything.

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Speaker 3: Do you know how many ounces of silver go into

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a cruise missile, David.

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Speaker 1: I do not. Five hundred five hundred ounces sold one

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blond out about all. Wow, the ounster box worth of

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silver for every cruise missile.

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Speaker 4: Yeah, here you go. Yeah, we're building more and more

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of them than ever.

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Speaker 3: Which is why the government has been keeping it down

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for as long as they can. But it's also a

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lot of military applications you know, use many many more

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ounces of silver than anything else. And you know, it's

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just something you know that you should kick track of.

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Speaker 4: Here.

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Speaker 1: It means it a very high and that just is

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to your point. I mean, under COVID, everything shut down.

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We have a deficit. I think coming into this year

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was about two hundred and fifty thousand or two undred

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and sixty thousand ounces deficit of what we need, so

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we weren't replenishing the ones that were used. And of

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course in China right now they're paying an extra three

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dollars over spot beyond what we have to enter in

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the US. So I don't think that we've in the

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Western world figured out what they've figured out right now

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in Asia, and they're doing it as fast as they

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possibly can. I just wonder, will we experience a hurricane

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like a tornado? Ye? Will lack of being observing the

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times that are changing.

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Speaker 3: There's no question in the entire world. All the faconotis there, Bro, David,

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just tell us.

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Speaker 4: How do we connect with you? How do we find

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you on the web?

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Speaker 1: Yeah, hey, Steadbubble dot com got some good information out there,

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got classes that are coming up here as the year

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is ending on Medicare, Social Security tax is a retirement

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So that's kind of what we got going on right now.

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And welcome anybody to get some downloads off our website.

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Speaker 3: All right, and you'll find a link in the show

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notes to this interview on Financial Survival Network dot com

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and just click it take you to David's site.

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Speaker 4: While you're there.

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Speaker 3: Would you please sign up for our free newsletter. Got

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a question for David myself? Klatcarriluts dot com is the

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email address.

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Speaker 4: Always a pleasure to have you on, David. We'll talk

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to you again real.

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Speaker 1: Soon Gary Pleasures mind take hereic talking soon.

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Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your

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solution to today's trying times. For the latest, go to

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Financial Survivalnetwork dot com. Financial Survival Network now more than ever,