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Speaker 2: And welcome.
Speaker 3: This is the Financial Survival Network. I'm your host, Carrie Lutz,
and got a special treat for you, little roundtable. We
haven't done one in quite a while, but I'm really
thrilled to have our good friends David Morgan, he's the
silver Guru the Morgan Report dot com. And Daryl Shoon,
amazing writer and not writing that much these days, but
you find his work at Drshoon dot com.
Speaker 2: The links are in the show notes.
Speaker 3: And Daryl, when I had you on last time, you
made a statement that raised the ire of the Miami
Plumbers Union, if you could believe it, you said that
pretty much the economy was a toilet, and you know,
pretty much the plumbing was shot. And you know that
You've been using that analogy for a long time. It's
always stuck with me. But here's what they said. They said,
we fix our mess. We don't blame the electrician. And
once we flush, it's gone. The FED you never know
where their waste product is going to wind up, except
it always finds a home on the Fed's balance sheet.
Speaker 2: So who so be nice to plumbers? You need to.
Speaker 4: Yeah, you know what it is. It reinforces the truism
that I've learned ever since, you know, being a public
talk speaker, is that people are listening that you don't know,
are there.
Speaker 2: Hey, so David, maybe it's not a plumbing does, but
the economy is certainly a dumpster fire, right, Yeah, it is.
Speaker 5: Before we start, Kerry and everybody, I just want to
let you know I'm doing this for my phone. I
have absolutely zero internet today, so I'm not usual office.
I'm doing the best I can and I'm fine personally,
but you know, your life just revolves around these electrons,
and you know when you lose them, it's it can
be a hardship.
Speaker 2: So anyway, I'll do the best I can.
Speaker 5: Yeah. I've said for a long time that the condoms
into contraction, and I'm not down leveraging out of the
possibility of a contraction that goes into depression. I mean
everyone's looking for more and more.
Speaker 2: Inflation low and interest rates. Inflation is accelerating, commodity presses
is going up. All those are facts. I never argue facts.
Speaker 5: But if you can't pay your grocery bill and you
can't make the car payment, you know we're getting more
and more of a move toward the depression. The economists
have to make up the words stagflation for it. There
wasn't such a thing as having ongoing inflation and freezing
wages or we're just going down, and that's basically what
we have. So I think we've got a mess. I
do think we're pushing toward a two tier society. It's
the rich and everybody else. The middle class is getting
wiped out. I know, in a very strong market, I
usually don't have to do any advertising. I get new subscribers.
I am still losing more than I'm gaming. I'm not complaining,
but that's a big wow. When I tell people that,
they can't believe it, and it's true. So I think
the people are just fed up. And I think some
of the long termolers are seeing forty four dollars silver
and saying, what the heck it might go to fifty
MinC go to one hundred, but my credit card bills
an eighteen percent, hunting the cash out and pay it
down or whatever.
Speaker 2: So back to you, Kerry, Yeah, so that's very true.
You see that.
Speaker 3: And I don't know if it's by accident or design,
but they're all plumbing and electrical and dumpster analogies aside.
Speaker 2: What the heck is really going on from your viewpoint
with the economy? Well, you know, I.
Speaker 4: Want to tag along with what David brought up about
the calling this a stagflation. One thing that people don't know,
which I ran across it was rather study is the
word recession only appeared after the Great Depression because every
contraction before the Great Depression was called a depression. There
was an expansion and a depression, it was like that.
But after the Great Depression there was a buggerboo word,
all right, and deflation was the bugge boo word. So
they came up with this word recession, all right. The
FED basically is the cheerleader for the bankers, all right.
That's why they're always trying to say it's optimistic. They're
always trying to say, we're going to grow our way
out of this, you know, my theory about economists and
the prognista. You know, what they say is that they're
only interviewing the economists who still have a job, all right.
If they interviewed an economists who who got laid off
last week, they've got a totally different picture. And I
think what David is has brought to the table. He
is what Ray Dalyo talked about this morning. And Dallio
is one of the big money boys, okay, And what
you know, one of the things I wanted to bring
up is that all three of us have we're we've
been on the margins. Okay, We've been on the margins
since the very beginning because we saw the problems with money,
we saw the macroeconomic problems, and we've been on the margins.
And now I think all of us will agree that
what we talked about and what we're seeing twenty years
ago is in.
Speaker 2: The headline step for sure. So you know, it's been
a good snight, Yeah, David.
Speaker 3: They say, you know, the difference between a depression and
a recession, recessions when you're out of work, a depressions
when I'm out of work, or the definition of minor
versus majorsy. Minor surgery is surgery that you have. Major
surgery is surgery that I have. But the pain is
real here. You know this isn't We're not imagining this.
And I think the gas lighting that the whole system,
it seems to be their biggest product, is gas lighting.
It's wearing thin now people are getting attuned to it.
Maybe being broke kind of wakes you up to reality.
But don't you think that people are really becoming aware
of the illusion and no longer buying into it.
Speaker 2: I definitely agree with to carry.
Speaker 5: First of all, the Internet has become censored, as we
all know, but before it was censored, it was free
speech mostly at least. But nonetheless, I think this fake
news and that meme carried, and I think a lot
of people just are giving up. I mean, I was
taught early on not to believe everything you read, not
to believe everything you hear or even what you see.
I mean, go to a magic show sometime. You know
that rabbit you know, didn't come out of the hapen
sure looked like it did. So, uh, I think cynical really,
if I can use that word, because it's like, uh,
you know, we're doing fine. I mean, look at what
Powell says all the time. You know the fedhead and
you know well the data of this, and it's just ridiculous.
As Darryl said, it's a cheerleading organization that's there to
protect the banks. They're not there to provide MONITORI stability,
and they really aren't as powerful as they act. It's
kind of a wizard of oziton areo because they do
set the discount window, they do set the federal funds rate,
but the market has some point could say, you know what,
I don't believe it. These dollars have come worthless or worthless,
worthless and going toward worthless, and the interest rates go
up even though they lower them. And that has taken place,
and it may take place again. So I'm on your side.
I think everybody keep what you're doing. They've got to
be educated or re educated or get a little bit of,
let's say, ability to separate the whek from the chaff.
Because as I think, I'm in the Obama administration and
I don't like any of them. So you know that
I'm not side either part. I dislike them all equally.
I'm very equal in that matter. Regardless I forget the
name of the bill. Daryl probably does know. But it's
when you can put propaganda out to the American people.
We very lied to us constantly, and I think I
think we're at to pass the tipic point carry. I
think the majority of Americans know that now. Not maybe
it's the details, but they know they're being lied to
more than we told the truth.
Speaker 3: Yeah, and there's no limit to the lies, you know, Daryl,
I heard that Jerome Powell was starting a line of perfumes.
It's going to be called ode to fed Flush, you know.
Speaker 4: The I made a remark an observation that Alan Greens
was a lot more honest after he left his job
at the Fit, all right. And we all knew that
Alan was a lot more honest before he got his job,
all right. And the reason why Alan got his job
is people don't realize is that Reagan wanted to finance
to let the dogs run loose, and they were really
unhappy with the guy in there before, all right, because
he kept it too tight. And so when in nineteen
eighty one, when the stock market was at seven seven
seven seven seven seventh, the dow, I mean seven seven,
that's that's like talking to eight. You can't even conceive
of the Dow being that low, but it was. And
now when it is at thirty four to thirty five thirts,
I don't even care, all right, but it's multiples. It
worked and and and you know, one of my sayings
has always been, the power is no more control than
credit is money and learning the difference between the two
is not easy. And we're about to The FED is
very powerful, but they're not in control. They're not in
control as as David pointed out, they don't they set
the FED fund rate. But the market is gonna do
what the market does. And the market always goes with
the upside generally because it wants to expand people want
to make money. The reason why delusions and bubbles last
so long is that you're gonna stay in there. Most
people have no way of making money other than the bubble.
That's their bet of lasting up. That's their powerball ticket
for the majority of Americans. And it has been all right,
And I understand why they're going and buying that ticket.
Every goddamn leaked, all right, But what my belief is,
it's gonna turn against them. It's gonna turn against them.
Speaker 5: It's been.
Speaker 4: It's a shadow gain great shadow, you know, I mean,
excuse me, understood the shadow in the cave and it's
it's about the light is about to come in, and
it's it's gonna be blinded and it's gonna it's gonna
just Ant calfect. I was lucky enough to know Ant Colin.
He said once, he said, you know, the day that
silver and gold go through the roof is going to
be the saddest day.
Speaker 2: In your life. I remember that quote.
Speaker 4: Yep, because it's gonna collapse all around you.
Speaker 2: Yeah, absolutely so, David, what do you do?
Speaker 6: Like?
Speaker 2: You know, you're Joe six pack.
Speaker 3: Basically your job's been shipped off too far away. You've
been living off government large ass, but you got a
little bit saved up.
Speaker 2: Uh you buy some silver? Do you? Uh? Do you
go flip houses? What are you supposed to do?
Speaker 4: Well?
Speaker 2: Yeah, it's tough one carry as you know, buddy, your
outline some good ones.
Speaker 5: I mean, you know, I kind of teaches for people
to live within their means. You know, don't use credit
unless it's absolutely necessary. You got to buy borrow money.
You gotta do it prudently, which means maybe a mortgage,
which could be prudent, but you know, everything is helter skelter,
and it gets more and more dislocated as.
Speaker 2: Time goes on.
Speaker 5: As Daryl's pointed out, I mean you get you know,
I mean my dad's house, we're a was a five
year old kid was like, you know, forty five thousand
or something, and now they're four fifty. The house hasn't changed.
What's changed the money supply. So I think, try to
live within your means and don't make money your God,
I wrote an article about that, you know, on a
train that that's the only thing to go after. You
got to believe in humanity. There's people like you and
I like Daryl that are out here with good hearts,
good heads, trying to help. You know, we don't make
a lot of money doing this. I mean it's because
it's a passion and I trust my fellow man, and
I believe in the biggest paradox of all, and that
is or for me of all, and that is that
I could be self serving and serve others at the
same time.
Speaker 2: Because basically when.
Speaker 5: I started the report is how I invest in this
resource sector and how I allocate my funds. And I'm
teaching what I do, and in a way that's self serving,
but it helped a lot of people. I just got
a consulting call yesterday. Guy's been with me since January.
He's up ninety seven percent of his portfolio. He's watching
his silver skyrocket and he couldn't be happier, you know.
So you get those kind of calls and kind of
it's worth kind of the pain and agony that we
go through from some of the let's say, mocking bird
press that are always putting this down.
Speaker 3: Yeah, so so what do you think, Daryl? Like you,
you always say God guns in gold, right.
Speaker 4: That's Carrie. My tagline on every article I've written has
been by gold, by silver, half faith. And in my
book I said, this is ninety two thousand and seven,
I said, and it would it would be It would
be hoove you to get your faith now while it's
getting still good, all right, But the truth of us,
most of us get our faith when the gun's on us.
Prayer has always been the most sincere when you're on
your knees, okay, I mean, when you're driving your best
friend to his cancer IV treatment, you're praying for him.
But when you're being driven you're really praying harder, all right,
And I think we're coming to that time, you know.
I mean, I remember George Washington's blog in two thousand
and nine did an analysis of the people out there
talking about what's going on, and me and Gerald Celente,
he said, were the worst. He said, these guys, they
they're just looking at the bottom. All right. But I've
always been really optimistic in a way, because I believe
the crash is necessary to clear the ground for what's
gonna happen next, all right, And I believe in next.
And like David, it's really interesting you brought that up, David.
I just came back from a trip. I don't get
out of my hole very often, I really don't, all right.
And there were three things that I encountered on that
that made me gave faith. And it had nothing to
do with politics, and it had nothing to do with money.
It had to do with the people I met on
the on the road coming back. The turbulence over Denver
was really intense. And the stewardess she's sitting next to me,
I know she never met anyone to hear this, and
she's said she's nailing next to me. It's going like this,
she's holding on and she said, I love my job.
Speaker 6: At I started, I thought, girl, girl, I mean he's
not strapped in and she said, I love my job.
Speaker 4: And I'm there's a resilience to us that we that
comes out during that time. All right.
Speaker 6: And on the way in waiting in line, you know,
you're dumb, you're tired, you're waiting to go in. And
we're in group four because I was traveling with a
whole bunch of us, you know, they you know, we
bookkeep and we're in group four and.
Speaker 4: Five, five and six. That means you go on without underwear, right,
so we're at the bottom.
Speaker 2: You're sand. You got the standing seats.
Speaker 4: Yeah, they got the standing seats. And I'm staying like hired.
This my you know, this back and forth and this
I hear this voice.
Speaker 2: It was great.
Speaker 4: Guy goes he said, you know, he said, I mean
I were in group four. He said, I always wanted
to be a four. That was always my dream. But
I'm a six and I don't think I'm ever going
to be a four. And I just started laughing that
maybe that was that that was a lie for stand
up comedy.
Speaker 5: You know.
Speaker 4: And there we were in that thing doing that all right, now,
before we got an airbnb and and it was it
was beautiful. I mean the house, it was better than
our house, all right. It was finished. The person had
it had tastes and stuff like that, and it was
And but loses the landlady. There were three cats who
were hanging out on the driveway, you know, between it,
and she said she has she was allergic to cats. Okay,
but she fed these cats, had him neutered in spade
and in the winner. Each one had the little house
with warmth. Okay. And I tell you I know what
we're going to do. I mean, Carrie, when I was
at your conference in twenty fourteen and I gave my talk,
some guy came up behind me, Carrie, and he said this,
I'm missing the next speaker. And he said, you know
things you're not telling this. And I want to know
why that was spooking.
Speaker 5: But he was right.
Speaker 4: I have a catastrophe thing that's very intense, you know.
Speaker 3: I mean, it's I think we're headed towards war, all right,
That's what Armstrong says.
Speaker 4: Yeah, and my feet is different dead. There was a
psychic named AliOS Errol Meyer in Germany in the late
nineteen fifties, late nineteen forties and fifties, and he said,
he said, there's gonna be world He said, there's gonna
be unrest in the Middle East. And then during the
peace conference, a peace conference, all of a sudden, Russia
is gonna.
Speaker 5: Make its move.
Speaker 4: He said, there's gonna be an assassination and suddenly, without
anybody expecting it, there's gonna be troops going from Kiev
up to the north. It's gonna be too prong and
then it'll be basically his vision of it was powder
drop from the skies and I think it's gonna, you know,
come up to stop these things in their tracks. And
this is what he said. And he said, after it,
there'll be peace, but it's gonna be fast and quick
and devastated.
Speaker 2: That's unbelievable.
Speaker 3: Well, you know, we always hope for the best here,
but you got to prepare for the worst.
Speaker 2: And you know, like.
Speaker 3: If you have no money, it's very difficult. It's hard
to just invest in yourself now, but investing in yourself
is always the best.
Speaker 2: He's got it, payoff, got it.
Speaker 5: Carry.
Speaker 4: I think we're down, we're down to truth time.
Speaker 2: You know, we all cruise.
Speaker 4: You know, all of us have cruised on this overflow
of credit, you know, in the last fifty years. Okay,
then has gone on since the late eighties, and we've
enjoyed it. And what they've done is that they've they've
they've delayed the reckoning. Uncle, my uncle said he went
through the depression. He says, you know, back then people
owed five hundred dollars, today they owe fifty thousand.
Speaker 2: That was it. That was his.
Speaker 4: Yes, do say, we're here with the reckoning, but it's
yourself you gave us the key.
Speaker 2: Yeah, it's so true.
Speaker 3: And you know it's funny that guy asked you at
our conference, what are you telling us?
Speaker 2: The best question?
Speaker 3: And I urge everyone out there who's listening, no matter
what AI you were using, ask it directly. What don't
they want me to want you to tell me? Because
it will be an eye opener because the AI knows everything.
But it's not just going to give you the keys
to the mansion. You specifically have to ask, and you
will find a side of the AI when you asked
that question that you will be amazed at their responses.
I think we lost David. He was having internet issues
all day and was using his phone. So one final
piece of advice here, Darryl, for everyone out there. Do
you buy minors, do you buy physical, do you sell?
Speaker 2: What do you do?
Speaker 4: I think it's truth time, and I think the currency crisis,
which I said I said when I wrote my book
Time of the Vulture, I basically said that we're heading
into another repeat of a great depression with one additional
element to it, and that's the currency collapse. The Fiat
currency is going to go down. And so I would
say hard currency, I mean hard mental silver possession. But Carrie,
even then, even then, I think your advice was the best.
Your advice is to look to yourself.
Speaker 7: I mean, I believe in a higher power, Okay, I
believe in my life is learned force me through my
own personal twelve step without any ostensible excuse or an
addiction to go there.
Speaker 4: Right, But I've had to go, you know, and I've
learned about that. And and you know, my advice in
the gut, in the gut end thing when you're down
to nothing is ask for help from it.
Speaker 3: Yeah, could not agree with you more. I think David
is coming back here. We'll find him somewhere, you know,
really as long as you don't lose hope, and it's
easy to lose hope, things are going to turn around.
Speaker 2: I've seen it so many times in.
Speaker 3: My own life, where I thought I was at the
end of the line, you know, there was nothing else,
and then you know, one day later, life completely turns around.
Speaker 2: Yeah, and you know, you.
Speaker 3: Could ascribe it to mystical property spirituality, but you don't
even need to.
Speaker 2: It's not necessary.
Speaker 3: You just have to understand that that Lysa roller coaster
and when minute you're going up the cliff and the
next minute you're coming down with no breaks.
Speaker 5: Garry.
Speaker 4: One of those thoughts I had before this thing opened.
It was a roller coaster metaphor, and and and and
what my thought was, well, with that metaphor, usually you're
hanging out for dear life, all right, this ride and
the steep ascent that you can't see the bottom. I
have this little spooky notion in my head that what
I was going to say is I think if you
let go this time, that's how you're hit a land well.
Speaker 3: All right, and we're going to put that in the
show notes. D R Shoon link is in the show
notes notes. Themorganreport dot Com sorry we lost you, David,
but we got you for most of it. And I'll
get a few prize gems from David and I'll post
them in the show notes this interview. Financial Survival Network
dot Com now doing substack because I don't have to
do any work with substack. It does it all for
me and it's free. Still the same website address, Darryl Man.
It's always good to catching up with you and we'll
talk to you again soon. David, wherever you are, we
will catch up with you later.
Speaker 1: Thanks for listening to Carrie Letz's Financial Survival Network, your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network
Speaker 4: Now more than ever