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Speaker 1: You know, this administration is also taking an independent approach

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on overseeing how the government was monitoring these financial institutions.

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And based on what I'm looking at, it appears that,

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you know, there was a lot of misuse, a lot

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of misspending, a lot of abuse of power in the

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past administration, and I think this current administration is trying

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to reverse those effects and bring a little bit of

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balance to the market.

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Speaker 2: 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 3: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Carrie Lutz. Hey, we're in

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March now. The Trump regime is firmly underway. Deregulation seems

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to be the theme, but maybe we're looking for something

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a little We want deregulation, but we do want the

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cops out there regulating unhealthy and criminal behavior. How is

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that all going to work out? Especially with all these

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layoffs that are taking place in the public sector. We

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never thought we'd see the day when that would occur.

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And well, Girston Gibbs is with us now Bellet Capital. Girston,

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I guess before we get started, should tell us what

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you do, what your company does, and how you help

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investors here.

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Speaker 1: Well, we provide independent Well, first of all, thank you

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for having me, Carrie, it's a pleasure of being on

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your show. My name is Gerston Gibbs again and my

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company Belly Capital. We provide independent oversight to investors to

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a system with just looking at their investment strategies, recommendations

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from their investment advisors and investment companies, and the system

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with ensuring that those are actually the correct type of

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strategies to be in and that what their investment advisor

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telling them is actually true and they're not just telling

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them and their own benefit. To ensure that they remain

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investing with them, we just provide that additional oversight, a

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system with diversifying their portfolio, give recommendations and suggestions. A

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lot of our investors are also entrepreneurs, so sometimes they

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may be a little too busy and very dependent on

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their investment advisor to provide that guidance and because we're

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not advisors and we provide more so of an independent

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outlook on their investments. We give them the truth from

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our perspective and understanding of what their intentions are, what

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their intended strategies are, what their suitability needs are, and

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just given an independent oversight on their investment strategies.

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Speaker 3: Mm hmm. Okay, So you're kind of like outside the

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system then, if you will as right, absolutely, you're not

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in the government and you're not with the banks and

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the financial institutions. So what do you think the priorities

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are of the current administration as far as regulation is

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concerned and as far as yeah, basically as far as

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where their where their goals are, what what's their strategy.

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Speaker 1: Well, obviously, based on all the needs that we're looking at,

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deregulation is.

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Speaker 4: At the top of the priority list.

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Speaker 1: I believe that you know, this administration is also taking

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an independent approach on overseas how the government was monitoring

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these financial institutions, and based on what I'm looking at,

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it appears that you know, there was a lot of misuse,

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a lot of misspending, a lot of abuse of power

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in the past administration. And I think this current administration

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is trying to reverse those effects and bring a little

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bit of balance to the market because I believe just

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with the overhaul of regulation in the past couple of years,

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it put a little bit of a strangle on some

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of these companies to be compliant based on all the

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increased rules and regulations, and some of those costs are

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brought to the investors. The investors feel a lot of

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the pressures of regulation because if government is required additional regulation,

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that means companies are spending more money on regulation.

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Speaker 4: That means an increase and the.

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Speaker 1: Cost of the financial products that are being sold to

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these investors.

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Speaker 3: Okay, I'll buy that. So what's our alternative here though,

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because we know we just have to go back and

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look at the financial crisis of eight nine and the

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resulting recession that came from that, that these banks are

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not to be trusted.

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Speaker 1: Well, I completely agree that there has to be some

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form of regulation, absolutely, because you can't trust anybody, not

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as we're seeing, you know, some of the government can't

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be trusted because it could be misspent that at exactly exactly,

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So I believe that there should be a balance. They

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shouldn't completely remove regulation, but they should take a visit

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at the rules and the laws and those that are

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actually helpful and those that are actually not helpful, and

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rebalance our approach to regulation. Not remove regulation, not get

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rid of regulation, but review regulation and determine which ones

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are actually working in the best interest of the investors

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and which ones are actually strangling the financial markets, which

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could have a direct negative impact on the economy.

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Speaker 3: And you know, like the one problem I've always had

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with regulation is is to say, what's in the best

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interest of investors. Yes, if you're stealing their money, that's

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obvious that there's one thousand and one other practices that

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take place where they're not so clear cut, you.

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Speaker 1: Know, absolutely, That's why I think they should be a

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consistent revisit, maybe revisits annually. I kind of could appreciate,

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I won't completely agree with everything that DOGE is doing,

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but I can appreciate an independent oversight, someone that's outside

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of the government and very similar to my company, that

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just takes a look at what's going on from a

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subjective eye and gives their opinion on what things they

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believe can be restructured. And I also believe that it

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shouldn't wait another four years till we revisit it. It

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should be an annual review of what's actually working, what's

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not working.

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Speaker 3: Zero based budgeting and the like. You know, the interesting

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thing is we've got these auditors, you know, the government,

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accounting office, office, personnel management, all of that, but they

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run audits and even Congress and then they never do anything.

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Nothing is ever done with the results of those audits,

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at least doge whether you like it or not. They're

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implementing their findings.

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Speaker 4: Right, correct.

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Speaker 1: And it's all about implementation because you can run an

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audit just to ensure that you're running the audit right,

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to keep you know, the confidence of the economy there.

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But if you're not implementing anything based on the results,

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what's the actual purpose of running the audits?

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Speaker 4: You can consider that a waste of resources.

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Speaker 1: If you're not implementing any changes or making and the

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adjustments to ensure that it's actually working better.

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Speaker 3: Yeah, and we've seen this like in you know, I

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forget what committee it was or who said it, but

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that the government was paying out improper payments somewhere between

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two hundred and fifty million and five hundred two hundred

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and fifty to five hundred fifty billion dollars in improper

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payments annually, and nobody ever saw fit to do anything about.

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Speaker 1: This exactly exactly, And I think that it's going to

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hurt a little bit in the initial phases, but ultimately

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it'll bring balance because you're bringing more money back to government,

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which ultimately means more money into the economy. And again,

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if you're finding out these things, they think about how

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long these things are going on. Dose was just implemented

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very recently, in less than two months. We're uncovering all

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of these issues and all of this misspending. Think about

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what's happening in the last ten years, whether Republicans or

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Democrats were in office, there could have been tremendous amount

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of mismanagement and we just didn't do anything about it

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or didn't implement anything after we determined that this money

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was being spent. So I think that it's initially going

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to be painful because restructuring and change is always a

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little painful, but ultimately it'll work in our favor.

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Speaker 3: Yeah, yeah, So how much money do you think doads

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can really save here?

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Speaker 1: Well, just based on what I'm seeing, it could be billions.

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Speaker 4: We're already pulling on the billions.

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Speaker 3: Yeah, all right, so hundreds of billions just go under

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the toilet every year. So do you think these cutbacks

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could cause a recession?

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Speaker 4: Possibly?

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Speaker 1: We can't rule out the discussions of recession again with

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these tarots in addition to the misspending, these are all

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indicators of possible recession. So we cannot rule out recession,

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but we can't rule out that ultimately this economy will

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flourish because we're uncovering these things, and because we're uncovering it,

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it can cause a tremendous uh.

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Speaker 4: Downfall in the markets leading to recession. But I think

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that that that's what the administration wants.

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Speaker 1: The administration wants to uncover things, even if it leads

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to recession.

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Speaker 4: It's kind of pull the band aid right.

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Speaker 1: Off kind of approach that I believe that this administration

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is taking.

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Speaker 3: Yeah, well, I guess with the deficit, out of control

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spending all of that stuff, we've reached the tipping point

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where this has to be done or the country is

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going to fail, the economy will collapse, and anarchy probably

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won't be much further off.

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Speaker 1: Absolutely, I can completely completely agree with that. Where we're

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living in some very scary times just based on the

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spending we're in tremendous that possible defaults could loom approaching

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the third quarter, and I think that this administration is

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trying to get a hold of it, and they're they're

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looking at things that they believe can resolve the issues

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that the economy has been having for the last couple

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of years.

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Speaker 3: Yep, Well, we're definitely in interesting times here. And when

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we have this conversation a year or two from now, oh,

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what do you think the state of things will be?

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Speaker 1: In my opinion, I think it will be tremendously different

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and much better in many ways, because again we're we're

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looking at how much the government was misspending. And that's

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that's the basis in the foundation of our economy, the government, right,

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so once we're not exactly exactly we depend on the government,

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and the government has been conducting the misspending just based

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on some of the discoveries that the DOGE team has had.

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Speaker 4: And you know, I was reading an article the other

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day and it's.

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Speaker 1: Three hundred and fifty million dollars in PPP loans to children.

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Speaker 3: Yeah, eleven years and younger exactly. You know, at first

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they said, well, we got twenty million people who are

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on social Security who are one hundred and ten years

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and older one hundred and twelve. But as it turned out,

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they're not really collecting checks, but because they're listed as live,

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when the other agencies of government go to check up

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on them to see if it's a real social it

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comes back as active, and then that becomes the basis

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for defrauding other benefits programs.

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Speaker 1: Right, correct, correct, And you know, it's a little scary

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to know that some of those things were going on

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for so long. I know that you just reading some

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of the articles. They found somebody that was collecting social

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security that was over three hundred years old.

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Speaker 4: It's older than which, well, say.

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Speaker 3: There's mistakes in the data.

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Speaker 4: The data.

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Speaker 3: Government data is very dirty. And but the point is

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that they said that when they discovered all those millions

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of people who were probably dead but listed as active,

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very few of them were actually getting paid. But like

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you said, the other that's active social security number becomes

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the basis for additional fraudulent activities. And they said at

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the time it would cost them five billion dollars to

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update their database, which sounds like total garbage. So they said,

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we're not going to bother, which was an active, complete

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insanity here.

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Speaker 1: Gerson correct, correct, I can definitely agree, and that's why

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we go back to regulation. So there should definitely be

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regulation and should be oversight, but that should also include

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oversight on the government. It should be oversight on big

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bat to be oversight on the government, because that's how

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I believe balance could be brought. You can just leave

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it to one party to conduct the oversight. It has

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to be overall over site of the entire country.

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Speaker 3: Yeah, yeah, yeah. And you know I said the second

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I saw it, I said, we need we don't need

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We don't just need DOGE. We need DOOON. The Department

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of United Nations Efficiency, and any any agency that's spending

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more than a few million dollars needs its own DOGE

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because you know, what's happening at the federal level is

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happening all over the place, right.

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Speaker 1: Correct, Correct, I definitely agree with that, And I understand

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people's reluxance and see because of Elon Musk and his

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popularity outside of government, right, I could understand some of

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the reluctancy, but I believe the overall approach is a

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good one outside of Elon Musk and who he is

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being the richest person on the planet. I believe that

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it's it's good to have an independent oversight of government

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and of companies.

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Speaker 3: M hm yep. Now, I could not agree with you more.

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And unfortunately, or fortunately, as the case may be, I

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don't know. The fact is that that really there's nobody

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else out there who is able to do this but

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Elon Musk with his knowledge of systems and his ability

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to assemble world class teams to take on projects. And

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you know, I'm always reminded by the late great Robert

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Moses who said, if you want to make an omelet,

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you got to break some eggs.

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Speaker 1: Right, exactly, exactly. And who's more qualified than a person

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that doesn't need.

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Speaker 4: The money or the popularity? Oh yeah, right, truly dependent.

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Speaker 3: Yeah, the arguments they're making against them, like Elon Musk

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is the identity thief, identity thief and chief, you know,

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like he wants your data. Like, believe me, if Elon

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Musk wanted your data, he didn't need to go to

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the government to get it. There's a lot of other

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places where you can you know, you can get that, right.

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Speaker 4: I agree.

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Speaker 1: This guy he brought Twitter now known as x so

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everybody's on there, so he already had he already had it,

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and I think that just based on his knowledge on technology,

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it could it could also bring tremendous benefit to government

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because everybody knows government's technology is tremendously outdated. That can

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be a true cause of some of these oversights to

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just outdated technology. But with this boom and AI and

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what the role that he plays in the technology sector,

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I think it can be tremendously beneficial to how we

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conduct an oversight on our government utilizing technology.

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Speaker 3: Yeah, and AI all of it, and yeah, the government

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is so far behind. And maybe I don't want the

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irs using AI because maybe you know, but look at

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the thought of reimagining government. It's it's really been too

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long in the making. You know, our government really works

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the same way it did in when the country was

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founded with computers, right, but it's really right the same way,

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the same philosophy, is the same techniques, all of that,

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and now it's about to see a dramatic change, right.

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Speaker 1: Correct, correct, And I think it will bring a lot

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more efficiency.

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Speaker 4: We're still in the age of AI.

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Speaker 1: We're still, I believe, in the very beginning phases, and

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we don't know how we're going to incorporate We're still

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learning how to incorporate it into our lives, let alone

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how government is going to incorporate it.

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Speaker 4: So I know we're at the very beginning.

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Speaker 1: I think there are definitely some benefits to it, especially

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from an efficiency standpoint, but we're still learning how it's

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going to impact things.

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Speaker 3: Yeah, I could not agree with you. Mark appreciate you

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coming on the show. Regards. Why don't you tell us

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where we find you how we connect with you on

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the web.

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Speaker 1: I'm definitely again thanks for having me. The name of

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my company is Bellet Capital. You can find us that

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Bellet B E. L I t ecapital dot com.

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Speaker 3: All right, and the link is in the show notes

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to this interview on Financial Survival Network dot com. We

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just ask you, if you go to the site, please

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sign up for your free newsletter, as over seventy thousand

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other FSN community members have. And we do appreciate you

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coming on here, Garson, enlightening us. You're out there in

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the trenches figuring all this stuff out daily. And hey,

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if you have any questions out there, shoot me an

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email kl atcarrieluts dot com. Grison, we'll talk to you

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again soon. Thanks for stopping by.

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Speaker 2: Thanks so THT you, Kerry, Thanks for listening to Carrie

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Letz's Financial Survival Network, your solution to today's trying times.

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For the latest, go to Financial Survivalnetwork dot com. Financial

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