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Speaker 1: You're listening to Carrie Lutz's Financial Survival Network, where you

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

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

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than ever.

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Speaker 2: And welcome.

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Speaker 3: This is the Financial Survival Network. I'm your host, Carrie Lutz,

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and got a special treat for you, little roundtable. We

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haven't done one in quite a while, but I'm really

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thrilled to have our good friends David Morgan, he's the

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silver Guru the Morgan Report dot com. And Daryl Shoon,

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amazing writer and not writing that much these days, but

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you find his work at Drshoon dot com.

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Speaker 2: The links are in the show notes.

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Speaker 3: And Daryl, when I had you on last time, you

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made a statement that raised the ire of the Miami

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Plumbers Union, if you could believe it, you said that

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pretty much the economy was a toilet, and you know,

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pretty much the plumbing was shot. And you know that

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You've been using that analogy for a long time. It's

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always stuck with me. But here's what they said. They said,

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we fix our mess. We don't blame the electrician. And

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once we flush, it's gone. The FED you never know

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where their waste product is going to wind up, except

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it always finds a home on the Fed's balance sheet.

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Speaker 2: So who so be nice to plumbers? You need to.

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Speaker 4: Yeah, you know what it is. It reinforces the truism

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that I've learned ever since, you know, being a public

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talk speaker, is that people are listening that you don't know,

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are there.

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Speaker 2: Hey, so David, maybe it's not a plumbing does, but

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the economy is certainly a dumpster fire, right, Yeah, it is.

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Speaker 5: Before we start, Kerry and everybody, I just want to

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let you know I'm doing this for my phone. I

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have absolutely zero internet today, so I'm not usual office.

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I'm doing the best I can and I'm fine personally,

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but you know, your life just revolves around these electrons,

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and you know when you lose them, it's it can

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be a hardship.

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Speaker 2: So anyway, I'll do the best I can.

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Speaker 5: Yeah. I've said for a long time that the condoms

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into contraction, and I'm not down leveraging out of the

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possibility of a contraction that goes into depression. I mean

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everyone's looking for more and more.

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Speaker 2: Inflation low and interest rates. Inflation is accelerating, commodity presses

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is going up. All those are facts. I never argue facts.

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Speaker 5: But if you can't pay your grocery bill and you

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can't make the car payment, you know we're getting more

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and more of a move toward the depression. The economists

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have to make up the words stagflation for it. There

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wasn't such a thing as having ongoing inflation and freezing

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wages or we're just going down, and that's basically what

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we have. So I think we've got a mess. I

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do think we're pushing toward a two tier society. It's

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the rich and everybody else. The middle class is getting

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wiped out. I know, in a very strong market, I

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usually don't have to do any advertising. I get new subscribers.

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I am still losing more than I'm gaming. I'm not complaining,

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but that's a big wow. When I tell people that,

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they can't believe it, and it's true. So I think

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the people are just fed up. And I think some

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of the long termolers are seeing forty four dollars silver

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and saying, what the heck it might go to fifty

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MinC go to one hundred, but my credit card bills

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an eighteen percent, hunting the cash out and pay it

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down or whatever.

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Speaker 2: So back to you, Kerry, Yeah, so that's very true.

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You see that.

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Speaker 3: And I don't know if it's by accident or design,

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but they're all plumbing and electrical and dumpster analogies aside.

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Speaker 2: What the heck is really going on from your viewpoint

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with the economy? Well, you know, I.

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Speaker 4: Want to tag along with what David brought up about

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the calling this a stagflation. One thing that people don't know,

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which I ran across it was rather study is the

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word recession only appeared after the Great Depression because every

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contraction before the Great Depression was called a depression. There

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was an expansion and a depression, it was like that.

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But after the Great Depression there was a buggerboo word,

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all right, and deflation was the bugge boo word. So

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they came up with this word recession, all right. The

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FED basically is the cheerleader for the bankers, all right.

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That's why they're always trying to say it's optimistic. They're

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always trying to say, we're going to grow our way

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out of this, you know, my theory about economists and

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the prognista. You know, what they say is that they're

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only interviewing the economists who still have a job, all right.

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If they interviewed an economists who who got laid off

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last week, they've got a totally different picture. And I

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think what David is has brought to the table. He

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is what Ray Dalyo talked about this morning. And Dallio

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is one of the big money boys, okay, And what

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you know, one of the things I wanted to bring

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up is that all three of us have we're we've

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been on the margins. Okay, We've been on the margins

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since the very beginning because we saw the problems with money,

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we saw the macroeconomic problems, and we've been on the margins.

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And now I think all of us will agree that

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what we talked about and what we're seeing twenty years

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ago is in.

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Speaker 2: The headline step for sure. So you know, it's been

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a good snight, Yeah, David.

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Speaker 3: They say, you know, the difference between a depression and

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a recession, recessions when you're out of work, a depressions

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when I'm out of work, or the definition of minor

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versus majorsy. Minor surgery is surgery that you have. Major

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surgery is surgery that I have. But the pain is

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real here. You know this isn't We're not imagining this.

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And I think the gas lighting that the whole system,

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it seems to be their biggest product, is gas lighting.

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It's wearing thin now people are getting attuned to it.

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Maybe being broke kind of wakes you up to reality.

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But don't you think that people are really becoming aware

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of the illusion and no longer buying into it.

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Speaker 2: I definitely agree with to carry.

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Speaker 5: First of all, the Internet has become censored, as we

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all know, but before it was censored, it was free

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speech mostly at least. But nonetheless, I think this fake

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news and that meme carried, and I think a lot

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of people just are giving up. I mean, I was

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taught early on not to believe everything you read, not

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to believe everything you hear or even what you see.

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I mean, go to a magic show sometime. You know

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that rabbit you know, didn't come out of the hapen

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sure looked like it did. So, uh, I think cynical really,

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if I can use that word, because it's like, uh,

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you know, we're doing fine. I mean, look at what

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Powell says all the time. You know the fedhead and

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you know well the data of this, and it's just ridiculous.

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As Darryl said, it's a cheerleading organization that's there to

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protect the banks. They're not there to provide MONITORI stability,

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and they really aren't as powerful as they act. It's

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kind of a wizard of oziton areo because they do

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set the discount window, they do set the federal funds rate,

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but the market has some point could say, you know what,

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I don't believe it. These dollars have come worthless or worthless,

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worthless and going toward worthless, and the interest rates go

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up even though they lower them. And that has taken place,

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and it may take place again. So I'm on your side.

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I think everybody keep what you're doing. They've got to

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be educated or re educated or get a little bit of,

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let's say, ability to separate the whek from the chaff.

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Because as I think, I'm in the Obama administration and

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I don't like any of them. So you know that

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I'm not side either part. I dislike them all equally.

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I'm very equal in that matter. Regardless I forget the

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name of the bill. Daryl probably does know. But it's

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when you can put propaganda out to the American people.

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We very lied to us constantly, and I think I

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think we're at to pass the tipic point carry. I

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think the majority of Americans know that now. Not maybe

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it's the details, but they know they're being lied to

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more than we told the truth.

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Speaker 3: Yeah, and there's no limit to the lies, you know, Daryl,

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I heard that Jerome Powell was starting a line of perfumes.

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It's going to be called ode to fed Flush, you know.

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Speaker 4: The I made a remark an observation that Alan Greens

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was a lot more honest after he left his job

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at the Fit, all right. And we all knew that

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Alan was a lot more honest before he got his job,

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all right. And the reason why Alan got his job

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is people don't realize is that Reagan wanted to finance

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to let the dogs run loose, and they were really

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unhappy with the guy in there before, all right, because

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he kept it too tight. And so when in nineteen

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eighty one, when the stock market was at seven seven

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seven seven seven seventh, the dow, I mean seven seven,

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that's that's like talking to eight. You can't even conceive

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of the Dow being that low, but it was. And

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now when it is at thirty four to thirty five thirts,

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I don't even care, all right, but it's multiples. It

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worked and and and you know, one of my sayings

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has always been, the power is no more control than

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credit is money and learning the difference between the two

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is not easy. And we're about to The FED is

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very powerful, but they're not in control. They're not in

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control as as David pointed out, they don't they set

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the FED fund rate. But the market is gonna do

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what the market does. And the market always goes with

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the upside generally because it wants to expand people want

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to make money. The reason why delusions and bubbles last

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so long is that you're gonna stay in there. Most

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people have no way of making money other than the bubble.

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That's their bet of lasting up. That's their powerball ticket

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for the majority of Americans. And it has been all right,

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And I understand why they're going and buying that ticket.

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Every goddamn leaked, all right, But what my belief is,

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it's gonna turn against them. It's gonna turn against them.

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Speaker 5: It's been.

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Speaker 4: It's a shadow gain great shadow, you know, I mean,

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excuse me, understood the shadow in the cave and it's

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it's about the light is about to come in, and

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it's it's gonna be blinded and it's gonna it's gonna

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just Ant calfect. I was lucky enough to know Ant Colin.

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He said once, he said, you know, the day that

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silver and gold go through the roof is going to

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be the saddest day.

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Speaker 2: In your life. I remember that quote.

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Speaker 4: Yep, because it's gonna collapse all around you.

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Speaker 2: Yeah, absolutely so, David, what do you do?

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Speaker 6: Like?

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Speaker 2: You know, you're Joe six pack.

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Speaker 3: Basically your job's been shipped off too far away. You've

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been living off government large ass, but you got a

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little bit saved up.

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Speaker 2: Uh you buy some silver? Do you? Uh? Do you

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go flip houses? What are you supposed to do?

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Speaker 4: Well?

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Speaker 2: Yeah, it's tough one carry as you know, buddy, your

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outline some good ones.

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Speaker 5: I mean, you know, I kind of teaches for people

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to live within their means. You know, don't use credit

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unless it's absolutely necessary. You got to buy borrow money.

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You gotta do it prudently, which means maybe a mortgage,

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which could be prudent, but you know, everything is helter skelter,

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and it gets more and more dislocated as.

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Speaker 2: Time goes on.

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Speaker 5: As Daryl's pointed out, I mean you get you know,

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I mean my dad's house, we're a was a five

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year old kid was like, you know, forty five thousand

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or something, and now they're four fifty. The house hasn't changed.

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What's changed the money supply. So I think, try to

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live within your means and don't make money your God,

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I wrote an article about that, you know, on a

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train that that's the only thing to go after. You

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got to believe in humanity. There's people like you and

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I like Daryl that are out here with good hearts,

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good heads, trying to help. You know, we don't make

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a lot of money doing this. I mean it's because

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it's a passion and I trust my fellow man, and

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I believe in the biggest paradox of all, and that

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is or for me of all, and that is that

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I could be self serving and serve others at the

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same time.

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Speaker 2: Because basically when.

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Speaker 5: I started the report is how I invest in this

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resource sector and how I allocate my funds. And I'm

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teaching what I do, and in a way that's self serving,

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but it helped a lot of people. I just got

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a consulting call yesterday. Guy's been with me since January.

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He's up ninety seven percent of his portfolio. He's watching

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his silver skyrocket and he couldn't be happier, you know.

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So you get those kind of calls and kind of

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it's worth kind of the pain and agony that we

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go through from some of the let's say, mocking bird

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press that are always putting this down.

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Speaker 3: Yeah, so so what do you think, Daryl? Like you,

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you always say God guns in gold, right.

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Speaker 4: That's Carrie. My tagline on every article I've written has

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been by gold, by silver, half faith. And in my

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book I said, this is ninety two thousand and seven,

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I said, and it would it would be It would

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be hoove you to get your faith now while it's

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getting still good, all right, But the truth of us,

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most of us get our faith when the gun's on us.

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Prayer has always been the most sincere when you're on

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your knees, okay, I mean, when you're driving your best

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friend to his cancer IV treatment, you're praying for him.

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But when you're being driven you're really praying harder, all right,

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And I think we're coming to that time, you know.

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I mean, I remember George Washington's blog in two thousand

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and nine did an analysis of the people out there

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talking about what's going on, and me and Gerald Celente,

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he said, were the worst. He said, these guys, they

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they're just looking at the bottom. All right. But I've

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always been really optimistic in a way, because I believe

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the crash is necessary to clear the ground for what's

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gonna happen next, all right, And I believe in next.

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And like David, it's really interesting you brought that up, David.

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I just came back from a trip. I don't get

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out of my hole very often, I really don't, all right.

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And there were three things that I encountered on that

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that made me gave faith. And it had nothing to

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do with politics, and it had nothing to do with money.

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It had to do with the people I met on

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the on the road coming back. The turbulence over Denver

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was really intense. And the stewardess she's sitting next to me,

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I know she never met anyone to hear this, and

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she's said she's nailing next to me. It's going like this,

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she's holding on and she said, I love my job.

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Speaker 6: At I started, I thought, girl, girl, I mean he's

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not strapped in and she said, I love my job.

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Speaker 4: And I'm there's a resilience to us that we that

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comes out during that time. All right.

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Speaker 6: And on the way in waiting in line, you know,

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you're dumb, you're tired, you're waiting to go in. And

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we're in group four because I was traveling with a

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whole bunch of us, you know, they you know, we

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bookkeep and we're in group four and.

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Speaker 4: Five, five and six. That means you go on without underwear, right,

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so we're at the bottom.

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Speaker 2: You're sand. You got the standing seats.

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Speaker 4: Yeah, they got the standing seats. And I'm staying like hired.

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This my you know, this back and forth and this

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I hear this voice.

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Speaker 2: It was great.

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Speaker 4: Guy goes he said, you know, he said, I mean

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I were in group four. He said, I always wanted

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to be a four. That was always my dream. But

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I'm a six and I don't think I'm ever going

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to be a four. And I just started laughing that

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maybe that was that that was a lie for stand

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up comedy.

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Speaker 5: You know.

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Speaker 4: And there we were in that thing doing that all right, now,

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before we got an airbnb and and it was it

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was beautiful. I mean the house, it was better than

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our house, all right. It was finished. The person had

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it had tastes and stuff like that, and it was

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And but loses the landlady. There were three cats who

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were hanging out on the driveway, you know, between it,

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and she said she has she was allergic to cats. Okay,

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but she fed these cats, had him neutered in spade

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and in the winner. Each one had the little house

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with warmth. Okay. And I tell you I know what

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we're going to do. I mean, Carrie, when I was

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at your conference in twenty fourteen and I gave my talk,

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some guy came up behind me, Carrie, and he said this,

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I'm missing the next speaker. And he said, you know

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things you're not telling this. And I want to know

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why that was spooking.

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Speaker 5: But he was right.

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Speaker 4: I have a catastrophe thing that's very intense, you know.

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Speaker 3: I mean, it's I think we're headed towards war, all right,

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That's what Armstrong says.

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Speaker 4: Yeah, and my feet is different dead. There was a

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psychic named AliOS Errol Meyer in Germany in the late

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nineteen fifties, late nineteen forties and fifties, and he said,

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he said, there's gonna be world He said, there's gonna

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be unrest in the Middle East. And then during the

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peace conference, a peace conference, all of a sudden, Russia

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is gonna.

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Speaker 5: Make its move.

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Speaker 4: He said, there's gonna be an assassination and suddenly, without

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anybody expecting it, there's gonna be troops going from Kiev

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up to the north. It's gonna be too prong and

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then it'll be basically his vision of it was powder

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drop from the skies and I think it's gonna, you know,

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come up to stop these things in their tracks. And

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this is what he said. And he said, after it,

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there'll be peace, but it's gonna be fast and quick

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and devastated.

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Speaker 2: That's unbelievable.

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Speaker 3: Well, you know, we always hope for the best here,

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but you got to prepare for the worst.

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Speaker 2: And you know, like.

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Speaker 3: If you have no money, it's very difficult. It's hard

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to just invest in yourself now, but investing in yourself

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is always the best.

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Speaker 2: He's got it, payoff, got it.

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Speaker 5: Carry.

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Speaker 4: I think we're down, we're down to truth time.

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Speaker 2: You know, we all cruise.

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Speaker 4: You know, all of us have cruised on this overflow

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of credit, you know, in the last fifty years. Okay,

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then has gone on since the late eighties, and we've

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enjoyed it. And what they've done is that they've they've

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they've delayed the reckoning. Uncle, my uncle said he went

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through the depression. He says, you know, back then people

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owed five hundred dollars, today they owe fifty thousand.

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Speaker 2: That was it. That was his.

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Speaker 4: Yes, do say, we're here with the reckoning, but it's

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yourself you gave us the key.

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Speaker 2: Yeah, it's so true.

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Speaker 3: And you know it's funny that guy asked you at

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our conference, what are you telling us?

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Speaker 2: The best question?

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Speaker 3: And I urge everyone out there who's listening, no matter

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what AI you were using, ask it directly. What don't

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they want me to want you to tell me? Because

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it will be an eye opener because the AI knows everything.

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But it's not just going to give you the keys

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to the mansion. You specifically have to ask, and you

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will find a side of the AI when you asked

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that question that you will be amazed at their responses.

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I think we lost David. He was having internet issues

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all day and was using his phone. So one final

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piece of advice here, Darryl, for everyone out there. Do

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you buy minors, do you buy physical, do you sell?

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Speaker 2: What do you do?

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Speaker 4: I think it's truth time, and I think the currency crisis,

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which I said I said when I wrote my book

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Time of the Vulture, I basically said that we're heading

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into another repeat of a great depression with one additional

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element to it, and that's the currency collapse. The Fiat

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currency is going to go down. And so I would

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say hard currency, I mean hard mental silver possession. But Carrie,

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even then, even then, I think your advice was the best.

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Your advice is to look to yourself.

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Speaker 7: I mean, I believe in a higher power, Okay, I

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believe in my life is learned force me through my

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own personal twelve step without any ostensible excuse or an

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addiction to go there.

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Speaker 4: Right, But I've had to go, you know, and I've

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learned about that. And and you know, my advice in

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the gut, in the gut end thing when you're down

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to nothing is ask for help from it.

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Speaker 3: Yeah, could not agree with you more. I think David

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is coming back here. We'll find him somewhere, you know,

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really as long as you don't lose hope, and it's

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easy to lose hope, things are going to turn around.

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Speaker 2: I've seen it so many times in.

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Speaker 3: My own life, where I thought I was at the

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end of the line, you know, there was nothing else,

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and then you know, one day later, life completely turns around.

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Speaker 2: Yeah, and you know, you.

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Speaker 3: Could ascribe it to mystical property spirituality, but you don't

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even need to.

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Speaker 2: It's not necessary.

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Speaker 3: You just have to understand that that Lysa roller coaster

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and when minute you're going up the cliff and the

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next minute you're coming down with no breaks.

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Speaker 5: Garry.

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Speaker 4: One of those thoughts I had before this thing opened.

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It was a roller coaster metaphor, and and and and

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what my thought was, well, with that metaphor, usually you're

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hanging out for dear life, all right, this ride and

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the steep ascent that you can't see the bottom. I

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have this little spooky notion in my head that what

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I was going to say is I think if you

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let go this time, that's how you're hit a land well.

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Speaker 3: All right, and we're going to put that in the

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show notes. D R Shoon link is in the show

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notes notes. Themorganreport dot Com sorry we lost you, David,

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but we got you for most of it. And I'll

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get a few prize gems from David and I'll post

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them in the show notes this interview. Financial Survival Network

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00:23:14,240 --> 00:23:17,319
dot Com now doing substack because I don't have to

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00:23:17,359 --> 00:23:19,839
do any work with substack. It does it all for

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00:23:20,039 --> 00:23:24,839
me and it's free. Still the same website address, Darryl Man.

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It's always good to catching up with you and we'll

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talk to you again soon. David, wherever you are, we

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will catch up with you later.

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Speaker 1: Thanks for listening to Carrie Letz's Financial Survival Network, your

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00:23:36,759 --> 00:23:40,559
solution to today's trying times. For the latest, go to

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00:23:40,720 --> 00:23:45,119
Financial Survivalnetwork dot com. Financial Survival Network

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00:23:45,440 --> 00:23:47,000
Speaker 4: Now more than ever