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Speaker 1: We have had these outside people who've advised before. Obviously

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Doge is new. We've never had somebody who's a multi

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hundred billionaire before, so there are new aspects to it,

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but there definitely echoes if you look back at the history.

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Speaker 2: You are 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. Hey, we're just about it. The end

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of February, really interesting book author came across my desk,

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The Power and the Money. If that sounds familiar, then

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you should listen on. His name is Tevy, Troy Tevy.

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It's your fourth book, I believe, probably more actually fifth,

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all right, so you are officially an author, yeah, can't

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hide it. So the epic clashes between Commanders in chief

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and titans of industry so brings us full skirk full

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circle to now Trump and Musk Doge. So far they've

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been on the same page. You know, we've never really

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seen a titan of industry this tightly entwined in an

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administration to the point where you'd almost call them like

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a part of the kitchen cabinet, Trump's kitchen cabinet. Uh,

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what are your take? What's your take on it?

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Speaker 1: Well, it's interesting that the term kitchen cabinet goes way

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back and also, you know, includes a lot of people

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who were major businessman industrialists. Reagan had his kitchen cabinet,

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So we have had outside business advisors before. We've also

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had types of industry, as I talk about in my

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book and the Power of the Money, who are really

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who go all in with the presidency. I talk about

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Henry Luce, who is the founder, editor and publisher of

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Time magazine. He went all in for Eisenhower in nineteen

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fifty two, provided staff for Eisenhower Musk provides the twenty

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somethings with backpacks. He used his platform to advance Eisenhower

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Musk uses x. He even had his wife become ambassadored

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to Italy in the Loose administration. In the Eisenhower administration,

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so we have had these outside people who've advised before. Obviously,

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doge is KNW. We've never had somebody who's a multi

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hundred billionaire before, so there are new aspects to it,

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but there are definitely echoes if you look back at

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the history.

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Speaker 3: Yeah so, but this one's a little different because Musk

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is there on an operational level. Right. Usually these are

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advisors and they do supply some support, maybe some logistics,

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some propaganda, right, But this one's really different. It's like

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like Musk was wearing a shirt the other day at

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a meeting and then said tech support. And basically, the

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government's loaded with zillions of computer systems. None of them

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work right, none of them talk to each other. Their

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software is breaking down left and right. It's written in

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the equivalent of aramaic Cobyl. You know. That's the equivalent

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that nobody speaks anymore Cobyl. You know. The joke is

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when a Cobyl programmer who's active with the government checks

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into a hospital, he doesn't just get standard treatment. He

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gets an entire team because they got to keep this

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guy alive, even if it's on life support. So the

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level of his involvement with the current administration is unparalleled

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in history, isn't it.

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Speaker 1: He definitely is very closely involved, and there's they seem

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to be doing a lot and kind of breaking some

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along the way. So yeah, I mean, again, I'm a historian.

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When people say something's unprecedented, I like to look for precedents.

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But the Doge thing and Musk is something new that

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I've not seen before in this way.

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Speaker 3: And you know so, is that the definition of fascism

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the marriage of industry and government into one happy package?

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Speaker 1: Yeah, I don't know about that. I mean, having a

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business advisor doesn't make it fascist. I mean, you know

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how much more uncomfortable Let's say the FDR administration, which

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used heavy handed tactics to get business to do what

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it would wanted, and if you asked me, I was

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closer to fascism than what we have today. So I'm

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not comfortable with that term in this context.

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Speaker 3: Good good, Well, me neither. But it is an argument

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that you do have to take seriously because what regardless

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what your views of the proper function of government is.

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You know, these corporations wield unheralded power. I mean a Google,

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an Apple, even Tesla have more power than their modern predecessors.

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And how you see the news, how you absorb it,

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how you ingest information. These companies Facebook, they all have

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unherlded power, and you don't want them coming together in

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some unheralded triumvirate with government, although arguably they did in

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the past administration.

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Speaker 1: Well, I mean, look in two thousand and eight of

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twenty twelve, the tech companies got together to help get

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Obama elected. You had all these Facebook staffers embedded on

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the Obama campaign. Some of them went into the Obama administration.

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So yeah, I mean this stuff has happened before. You've

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definitely had business leaders who've gone got backed presidential administrations.

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Speaker 3: They provided vice.

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Speaker 1: At the end of the day, the president's the decision

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maker if he's not comfortable with someone. So for example,

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Hugh Johnson was a general who was brought in to

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run that National Recovery Administration under Roosevelt, the guy who

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acted in those fascistic ways I talked about, And in

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nineteen thirty three he was on the cover of Time

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magazine as a Man of the Year. He was gone

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in nineteen thirty four. So the president gets to make

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these choices. Hey, and we could go back to who

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was it McNamara, Yeah, macmari are a huge corporate CEO.

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You know from the auto industry, comes and starts works

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at the Pentagon and tries to run the Vietnam War

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not very well. So yeah, the stuff is happening before you.

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In my book in the Power of the Money, I

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talk about Jack Welch who knew ten different presidents. So

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one of the interesting things about Power of the Money

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is these are all CEOs who dealt with multiple presidents.

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Jack Welts knew ten different presidents, and many of them

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asked him to join his administration and join their administrations,

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have him come into the cabinet sectory, and he always

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said no, because he knew, first of all, if you're

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a cabinet secretory, you're subordinate to the president. The president's

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always above you, and the CEOs are used to be

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on top. And then the second thing is his method

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was he would hire, he would fire the lowest performing

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workers at GE every year. You can't easilly do that

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in the federal government. I'm just thinking, that's kind of

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what we're going through now. I mean, I call this

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life imitating office space.

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Speaker 3: Where what have you done? What do you do here?

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You know? And that's that's a legitimate question, especially in

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the government. It should be asked repeatedly because these agencies,

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these commissions, they've hung on, bureaus whatever, hung on for decades,

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long since outliving their mission.

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Speaker 1: Yeah, like, I totally agree with that. But it's not

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clear that whatever firings are happening are actually going to

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be permanent. There's some people resign, and you know, if

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you resign, then you know that that's that. But a

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lot of these firings going to be tested in court.

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A lot of these people have some civil service protections.

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So it's just not clear to me that the two

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plus million person federal workforce is going to be significant

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smaller if we talk a year from now.

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Speaker 3: Yeah. Well, the other thing is the moral aspect of

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or the emotional warfare that it's a big sy op

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on these people, you know, and how many of them

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can take it and finally just throw up their arms

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and leave, And those might not be the people that

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you really want to get rid of in the first place. Right.

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Speaker 1: Yeah, Look, I'm sorry if it's offensive to people, are

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hurtful to people to be asked what they do, but

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you got to do that in the private sector all

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the time. I mean, if you're in the private secretory

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and these quarterly reports where you ask what your goals

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were and whether you accomplish them and whether you're doing

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well or not. I mean when I've had jobs like that,

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I hate filling them out, but you know, it's part

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of the job.

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Speaker 3: You get paid. It's called work.

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Speaker 1: Because they pay you to do something that you wouldn't

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do ordinarily. That's why it's work. And so that's why

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I will be if you actually love what you're doing

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and you do it if you weren't paid. That's a passion,

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but could also well, that's why I do what I do.

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That's why I write my books and I you know,

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I do give the lectures do you think tank stuff?

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I do leadership training based on my knowledge of the presidency.

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So I do things that I like to do because

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I don't like having a boss tell me what to do.

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Speaker 3: Yeah, and I should remind people mind you out there.

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The book is The Power and the Money, the epic

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clashes between Commanders in Chief and titans of industry, and

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it was it's gotten all sorts of awards and alkaloids.

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It was came out in the summer, but it's probably

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more applicable now than ever with the current administration. So,

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getting back to what you said there, Tevy like accountability,

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it's not so bad. I always my concept for trimming

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the federal workforce was this. You wait for a day

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when it snows in d See, and you know, DC

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gets an inch of snow, it's shut down instantaneously, and

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then they put out the call for only essential workers

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to come to the office. And then once all that

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you find out who all those essential workers are, you

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fire all the other ones because if they're not essential,

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what do you need them for? Right?

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Speaker 1: The good point I've always wondered about that. You know,

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if these people are essential, what about everybody else? If

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they're non essential, why am I paying my tax dollars

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to support them? It's a great question.

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Speaker 3: Yeah, so that's how we get rid of non essential workers. Right.

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And even if you weren't essential, but you made it

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to the office with an inch of snow in DC,

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you deserve to keep your job.

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Speaker 1: It definitely shows a willingness to overcome challenges.

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Speaker 3: Hey, So you know, part of the way organizations change

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over time or dramatically over time is by breaking the paradigm,

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by by really changing the way you think about work,

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about what the government's purpose is, so we've been in

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this eighty year kind of spiral. Actually, it's believe it

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or not, it's ninety years now since the New Deal

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nineteen thirty four, right, and we're starting to like really

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redefine government. What is its purpose? Do you create a

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new agency for every new problem, or do you let

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the market work its way out or do you find

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other ways to deal with it?

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Speaker 1: I mean, yeah, I mean you remember Tim Polenti, he

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ran for president briefly back in twenty twelve. He had

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this thing called the Google test. He said, before we

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come up with a government doing some new thing, why

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don't we google it and see if somebody's already doing

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it in the private sector, and if they are, don't

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create a new government entity to do it, because it's

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already being done.

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Speaker 3: And now with AI, we could just ask it for

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this solution and it would probably figure out better than

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any bureaucrat in the Ivory Tower. Right.

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Speaker 1: Yeah. Look, I mean, we've got over one hundred transfer

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program that transfer billions of dollars from one group to another.

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Do we really need one hundred You know, maybe we

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have some kind of guaranteed annual income and negative incompacts

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or something we say, okay, we're just going to give

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you a check. You get a certain level of money,

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but you don't have to have one hundred different programs,

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all administered by bureaucrats, all who take a cut. All

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of these are inefficient, a lot of them have a

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problematic incentives. So yeah, I mean there is just too

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much of this in the federal government and we do

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need to pare it down.

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Speaker 3: Yeah, I love the concept of that, and really, how

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many we don't you know that? Also the idea of

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that email with the five things, what five things you

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did last week? It's also like do you exist? Right?

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They must called it a pulse check? Right, do you exist?

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Do you come into the office or are you a

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fictitional a fictitious person or a dead person? And we

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just keep doing the transfers into your account. The Department of.

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Speaker 1: Labor, there was this one division where where and they

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were the ones that were supposed to be the watchdogs

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over the labor unions. They would just go to the

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bar every afternoon. You can find these guys drinking away.

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You're starting at noon. Because they weren't gonna watchdog over

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the lee unions. They didn't have any interest in doing that.

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Speaker 3: So it's probably better that those guys do work from

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home because then when they get drunk, they won't be

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driving and presenting a hazard to the entire you know,

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driving public. Right, this is back in the days when

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people actually showed up. Yeah, well, you know, Woody Allen's

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old saying's got to be updated now because he used

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to say eighty percent of life is showing up, but

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now it's maybe eighty percent of life is showing up

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on a zoom call.

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Speaker 1: Yeah, you know, what are they doing on the zoom calls?

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I mean, you saw Jamie Diamond's leaked transcript about how

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he's ripping on people going on zooms and how they

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roll their eyes and making net Snyde comments. But they're

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actually doing work. So yeah, Zoom is not a real substitute,

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even though I'm enjoying this interview on zoom and we

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got to let on it otherwise in the olden Dave

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for what.

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Speaker 3: We do is quote unquote content creators. Right, it's a

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boom for us, believe, But the zoom is the product there,

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the zoom call is the product. But you know, I

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do see uses for it. There's a lot of companies

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that's expanded their capabilities because they're global and these people

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would never see each other except that company get togethers

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if then so, yeah, technology is great, but technology in

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itself is not the solution. It's only a tool as

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part of a solution, which always has to be human

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induced AI. So this is the biggest trend now, in

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my opinion, in the world if you haven't used it,

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which supposedly eighty five percent of the population has not

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even checked out chat, GPT or Gemini or any of

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the others out there. From your standpoint to as the

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way the government functions, the where society functions, what's your

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take on it, I.

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Speaker 1: Think it has an amazing possibility to mean, you, look,

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this is the FDA, for example, we are on the

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cusp of some kind of biomedical revolution. We've got all

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these advances, and what's the number one thing slowing it

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down is the FDA review process. And I always say,

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we don't enough people, we don't enough time, we can't

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review all the documents. Well why do you have AI

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review the documents? And they could look for the anomalies

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that better than a human can, They can find if

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there are potential adverse risks in a new product, and

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they look at all the submissions, which you know, sometimes

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these documents are the hundreds of thousands of pages. They

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can look through it in the blink of an eye

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and maybe we can move the whole FDA approval process faster.

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So I think I see tons of possibilities for AI.

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Speaker 3: And not to mention what's happening with DOGE, the ability

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to scan through every single line item in the US

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budget and come up with the waste inefficiency or.

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Speaker 1: Yeah, look look at AID. What's with them in these

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transgender comic books and they you know, the DEI operas.

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I mean, I don't understand why does it help us

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if we go to a country and try and force

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DEI down the throats of this other country. They're just

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going to They're gonna like us left, They're not going

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to appreciate it. I get it. If USAID is all

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about providing food and medicine, that's great, but that's not

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what they're doing. They're providing this kind of ideological indoctrination

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that you that we get on our college campuses. I

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don't want on on college campuses, and I don't want

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it when we're giving it to Mozambique either, yeah.

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Speaker 3: Well, I was trying to get tickets on ticket Master

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to the to the trans opera in Slovenia, but I couldn't.

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They were all sold out.

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Speaker 1: So you think the Slovenians really want to see a

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trans opera? Do you think it makes them feel better

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about the United States of America or worse?

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Speaker 3: This is like cultural rot sickness, and and it's an

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attack on these other cultures which are more conservative than ours,

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and they don't appreciate it. And like you say, they

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hate us even more for meddling and indoctrinating.

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Speaker 1: So I'd beware of saying concerted cultures that are more

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conservative than ours, because you know, we're pretty conservative here

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in the try household, and I'm sure in your household

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as well. So oh yeah, yeah, but let's not say that,

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you know, the radicals own the culture.

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Speaker 3: Right, but we accept a lot more than what our

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parents or our grandparents would have, you know what they.

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Speaker 1: Yeah, perhaps you're a detriment.

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Speaker 3: That could well be the case, but whatever, it's all

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been normalized to some extent, at least our acceptance of

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it in others. Maybe not in our household, but yeah,

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it's it's been an incredible eye opener like you and

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I Like you worked in the government. You knew the waste,

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the corruption, the fraud, it was all there. You knew it,

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but you didn't know the specifics of it. Knew it

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from a macro level. Now you're getting to find out

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what it is from a micro level, and it is shocking.

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Speaker 1: Yeah, and I gotta say, I'm a little embarrassed about this.

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But when I worked in the government, I would see

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these grants go to left wing groups and I say, well,

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can't we stop this, and everyone saying no, people have

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tried it before, it can be done. Well, maybe it

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can be done. Maybe, and maybe we should have tried

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harder when I was in the bushy ears, because this

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stuff has been going on for a long time. It's

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just now with AI and with social media, we get

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to find out about it. Used to you would have

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these these media filters, wouldn't let the story get out.

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But now we can see the truth.

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Speaker 3: Hey, the worst, the most egregious thing I saw is

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the illegal invasion we put a USA paid to six

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billion dollars that we know about. Mind you, a lot

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of it gets laundered. We don't know about it. Six

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billion dollars in the last two years to bring these

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illegals in and you know, give them luxury hotels and

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you know, debit cards and cars and houses and businesses.

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I mean, this is like insanity.

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Speaker 1: Yeah, all I had to do was say stop. And

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you know if you know, but border apprehensions are way

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down because we said no, it's no longer an open door.

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We're going to stop you. You can't come in this

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country legally. I love immigrants. I'm very pro immigration, but

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pro legal immigration. How do you think these people are

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waiting online for their visa feel when somebody just sneaks

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over the border and then it leads to Americans say, oh,

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we don't want immigrants. It's not that we don't want imigrants.

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We don't want illegal immigrants.

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Speaker 3: We want legal.

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Speaker 1: Immigration because it's the lifebload of our economy. It brings

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in new idea. Forty percent of the people in the

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pharmaceutical industry are immigrants. I think they're great, but those

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people came here legally.

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Speaker 3: I look at my top ten friends I live here

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in Florida, and at least four or five of them,

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you know, emigrated here legally.

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Speaker 1: So you know, to say, its great energy and ideas

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and money to this country. And you know that's what

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we worth thirty five trillion dollars in debt. We can't

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just live off our pathetic birth rate, which is you know,

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we're not even replacing ourselves. We do need people to

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come here to pay taxes and to build a country

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and to be innovators. But we've got to do it legally.

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Speaker 3: Yeah, and we want to know something about them and

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know that they're not diseased. And my ancestors came through

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Ellis Island that were quarantined for a couple of weeks.

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They couldn't come into the country to lin knew. We

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knew they were diseased free. And that's just one example. Hey, again,

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the book is The Power and the Money, the epic

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clashes between Commanders in Chief and titans of industry, and

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it's by Tevy Troy. Tevy been a great guest. Really

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appreciate your coming here. You've got a website we can

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follow your work. Can go to Tebi Troy dot org.

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You can buy the Power of the Money wherever fine

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books are sold. You could follow me at Tevy Troy

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on x or Twitter, whatever you prefer. And I just

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got to say I love your shirt. Thanks. Hey, well,

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we always like to say wherever fine books used to

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be sold Amazon and wherever fine books used to be slid.

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The link will be in the show notes, both to

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Tevy's website and to the book on Amazon. Hey, appreciate

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you coming on. We're definitely going to have you on

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again and can't wait for your next book. Hey.

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Speaker 1: Thanks, I look forward to your review and the mention

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of the newsletter and all this great stuff.

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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,