Latest / Financial Survival Network / The Financial Endgame: Sovereign Debt Reset - Martin Armstrong #6425

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The Financial Endgame: Sovereign Debt Reset - Martin Armstrong #6425 · Financial Survival Network

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  Speaker 1: You're listening to Cary Lutz's Financial Survival Network, where you
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  Speaker 2: Welcome. You are listening to and watching the Financial Survival Network.
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  Speaker 2: I'm your host, Cary Lutz. Martin Armstrong is back with
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  Speaker 2: us again. Marty, you've been all over the web, really
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  Speaker 2: warning everybody. Nobody's listening. What's going to happen with the
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  Speaker 2: oil situation now? Are we going to have a supply
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  Speaker 2: shock around the world? I read that you couldn't even
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  Speaker 2: find motor oil in Costco. They've doubled the price.
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  Speaker 3: Well, you're getting to the point where, I don't know,
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  Speaker 3: I think somebody ought to drag Zielinski out and change
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  Speaker 3: or something, but he's just really a lunatic in the
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  Speaker 3: sense he doesn't care about the world at all. I mean,
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  Speaker 3: the evidence has come out that he blew up the
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  Speaker 3: Nord Stream Pipeline. And, oh, I got to hurt Russia.
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  Speaker 3: All right. But you just, you hurt Germany. You hurt
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  Speaker 3: the EU. Germany, you know, China bought Volkswagen. I mean,
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  Speaker 3: their economic growth is down to 0.8%. I mean, when
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  Speaker 3: they used to be, you know, 4% and they were
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  Speaker 3: 25% of the EU. I mean, he just does not care.
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  Speaker 3: I just got to beat Russia no matter what. And
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  Speaker 3: if he takes down the rest of the world. Trump
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  Speaker 3: lifted some of the sanctions on the oil to help
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  Speaker 3: the rest of the world. And he said, no way.
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  Speaker 3: And started attacking all the refineries. And now we have
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  Speaker 3: less of a shortage in oil. The real problem is
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  Speaker 3: the refined products. Diesel. you know, everything else, it's just,
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  Speaker 3: and people don't realize that with a refinery, you can,
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  Speaker 3: you know, you set it up for gasoline. Okay. Now
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  Speaker 3: you've got to completely change it to do diesel. All right.
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  Speaker 3: You can't produce everything at the same time. So the
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  Speaker 3: real difference, crisis we have is more in the diesel side.
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  Speaker 3: You buy something from Amazon and it's delivered by a truck.
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  Speaker 3: In Asia, the diesel is used to basically power the
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  Speaker 3: ships to go out and get food. Our computer is
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  Speaker 3: just showing a major panic cycle next year in gasoline prices. And,
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  Speaker 3: you know, I understand Trump has finally come out and
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  Speaker 3: acknowledged what I've been saying all along, that this war
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  Speaker 3: would not end quickly. And now he's come out and
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  Speaker 3: admitted nothing's going to happen before the midterms. But, you know,
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  Speaker 3: Why anybody thought they could get Iran to do something
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  Speaker 3: is beyond me. They have no sense of history or geopolitics. Iran,
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  Speaker 3: back in 79, held the hostages for over 400 days,
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  Speaker 3: and they released them only when the very day that
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  Speaker 3: Ronald Reagan was elected. What they are doing is the
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  Speaker 3: same thing in 79. You had Trump and Netanyahu said
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  Speaker 3: they were after regime change. Well, this is reverse regime change.
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  Speaker 3: They know that Netanyahu is up for election in October
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  Speaker 3: and you got the midterms. Why would they raise the
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  Speaker 3: white flag now? They got a shot at overthrowing, you know,
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  Speaker 3: both governments. And it's going to cause complete chaos. You know,
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  Speaker 3: you're looking at all kinds of investigations when the Democrats
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  Speaker 3: get in and we've got two years of absolutely chaos
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  Speaker 3: and stagnation and nothing else. Nobody cares about the country anymore.
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  Speaker 3: It's like, well, whatever, if Trump said this guy's blue,
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  Speaker 3: I got to say it's right. It's, it's just this
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  Speaker 3: fighting back and forth. Nobody cares about, okay, You know,
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  Speaker 3: what about the country? Oh, the debt. Okay, fine. All right.
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  Speaker 3: Most of the debt is socialism after Johnson and war.
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  Speaker 3: If you're thinking voting Democrats in is going to change anything, nothing.
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  Speaker 3: This thing's on an automatic pilot. So it's, you need
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  Speaker 3: political reform before you're ever going to get any serious change.
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  Speaker 3: Like I said before, I could run for Congress. I'll
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  Speaker 3: tell you whatever you want to hear. I'll state the whales.
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  Speaker 3: You'll get a free car and a lollipop. Whatever. Then
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  Speaker 3: you get there and they go, congratulations, here's how it works.
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  Speaker 3: And just look at the votes. They're down party line.
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  Speaker 3: So it's all just a big facade. It's a game. Look,
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  Speaker 3: the people that make these decisions are in the back room.
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  Speaker 3: They don't stand for election. You know, as you know,
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  Speaker 3: I was called in when they were forming the euro.
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  Speaker 3: It was deliberately set up. The whole EU is deliberately
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  Speaker 3: set up to eliminate democracy. You know, Ursula has never
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  Speaker 3: stood for an election, even for dog catcher. All right.
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  Speaker 3: I mean, they're just appointed. The people in the commission
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  Speaker 3: make all the rules and everything. They don't stand for election.
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  Speaker 3: Europe can't go to, you know, oh, we'll vote them
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  Speaker 3: out of power. It doesn't work that way. Yet they,
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  Speaker 3: you know, they tell us, oh, you, this is democracy, fighting,
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  Speaker 3: you know, against Russia was a dictatorship. Well, if Ursula
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  Speaker 3: doesn't stand for an election, but Putin does, how is...
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  Speaker 3: You know, where's this coming from? You know, Eric Schmidt
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  Speaker 3: over there saying that he's helping with all the drones
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  Speaker 3: and everything in Ukraine. I'm fighting for democracy. Okay. Russia
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  Speaker 3: is going to elections in September. Zelensky and the Duma,
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  Speaker 3: they don't stand for election. Oh, it's all suspended. So,
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  Speaker 3: you know, I don't know if these people, they're just
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  Speaker 3: spouting out the propaganda that that they read. Nobody checks
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  Speaker 3: the facts. I don't, you know, it's just, it's quite
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  Speaker 3: alarming and disgusting at the same time, you know?
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  Speaker 2: So, so what are we supposed to do here as
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  Speaker 2: a helpless citizens who have a zero power over anything?
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  Speaker 3: Well, we do have power. It's just, that's in the marketplace.
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  Speaker 3: Look at, at Besson. You know, He comes from the
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  Speaker 3: Soros crowd. They were all market manipulators. And he stands
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  Speaker 3: up and says, I'm the house, and you can bet
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  Speaker 3: against me if you want. They'll tear him apart, okay?
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  Speaker 3: Long-term interest rates are rising globally. Look at London, Paris.
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  Speaker 3: I mean, the rates are up everywhere. This isn't something
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  Speaker 3: that he can force down. You can stand up, beat
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  Speaker 3: his chest, I am the house, all you want. It's
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  Speaker 3: not going to work. When you're going into war, and
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  Speaker 3: every government around the world has been doing the same thing.
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  Speaker 3: Everybody talks about, oh, U.S., 40 trillion deficit. Sovereign world
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  Speaker 3: debt is approaching 400 trillion. We're only about 10% of
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  Speaker 3: the problem. Yeah, so... I just, it's like, doesn't anybody
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  Speaker 3: just look at the facts? If you're in the press,
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  Speaker 3: it's like, oh, Russia invaded Ukraine unprovoked. All you got
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  Speaker 3: to do is look on the daily cars. Zelensky stood
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  Speaker 3: up the day before and said, we're going to rearm nuclear.
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  Speaker 3: The Washington Post came out and that he knew everything.
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  Speaker 3: In advance and asked them, why didn't you tell your
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  Speaker 3: people Russia was going to cross the border? And he said,
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  Speaker 3: if I told them it would have cost me seven
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  Speaker 3: billion dollars. So let's kill as many Ukrainians as possible
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  Speaker 3: as long as I get to fill my pockets. I mean,
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  Speaker 3: it's I don't know. I'm just sick and tired of,
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  Speaker 3: we don't have anybody that really gives a shit anymore.
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  Speaker 2: Yeah. So when does this cycle conclude here, this mini
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  Speaker 2: war cycle here, panic cycle?
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  Speaker 3: Look, Iran is not on the ropes as they portray.
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  Speaker 3: They're a member of BRICS. China gets, you know, a
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  Speaker 3: lot of its oil from Iran. You know, you take
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  Speaker 3: out Iran, and then what happens? You're attacking, basically, the
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  Speaker 3: national security of China. I hear the, you know, Schmidt
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  Speaker 3: and Drixel, they say, oh, you know, the war in
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  Speaker 3: Ukraine has changed, and With technology, they can defeat Russia. Okay.
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  Speaker 3: What happens then, assuming you're correct? All right. It's like Iraq. Oh,
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  Speaker 3: we're going to take out Saddam. Then what? I don't know.
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  Speaker 3: We'll figure that out later. You end up with ISIS
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  Speaker 3: chopping off heads. Nobody, even Iran, out. You know, Netanyahu
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  Speaker 3: tells Trump, we'll kill the Ayatollah day one and we win.
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  Speaker 3: You know, and this is the sales job. All the
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  Speaker 3: government will fall. There'll be regime change. Nothing happens. They've
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  Speaker 3: never been right even once. You know, you can look
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  Speaker 3: on YouTube. You got Robert McNamara's apology before he died,
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  Speaker 3: you know, on Vietnam.
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  Speaker 2: I remember it well.
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  Speaker 3: You know, he says, sorry about that. Fifty-some thousand Americans died.
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  Speaker 3: We were wrong. Russia wasn't involved. It was just a
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  Speaker 3: civil war. I mean, I guess he wanted to, you know,
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  Speaker 3: tell the truth before he died to clear his conscience. But,
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  Speaker 3: you know, they never tell the truth about anything. And it's...
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  Speaker 3: I would be more concerned that you... They're trying to
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  Speaker 3: push this Zelensky even said that he was trying to
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  Speaker 3: influence the September elections in Russia. I mean, what do
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  Speaker 3: you think they're going to do? Raise the white flag? Oh, sorry,
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  Speaker 3: you won. No way. I mean, if anything, you're going
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  Speaker 3: to basically get, you're supporting the very people that want war.
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  Speaker 3: The hawks are coming in. And you can see that
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  Speaker 3: the Kremlin has just changed the definition of It's no
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  Speaker 3: longer a special operation to protect the Russians in the Donbass.
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  Speaker 3: They've actually come out and said, we are at war
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  Speaker 3: now with Ukraine. You know, these are major changes. And
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  Speaker 3: it's like, I don't know, they're just flying by the
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  Speaker 3: seat of their pants or something. Nobody has any strategy.
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  Speaker 3: They all got, you know, kind of pissed off at
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  Speaker 3: me because I was up in Canada and I said, sorry,
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  Speaker 3: every war game I saw, Iran always took this straight.
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  Speaker 3: And I said, I would have secured the Strait of
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  Speaker 3: Hormuz before the first bomb fell. And it's like, oh,
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  Speaker 3: I shouldn't say that because it exposes the fact that
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  Speaker 3: they were stupid. I don't know. It's just, well, it's
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  Speaker 3: very frustrating.
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  Speaker 2: They had to. Always been Iran's strategy. So let's go
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  Speaker 2: to part two now. And That is precious metals. My
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  Speaker 2: audience always likes to hear your take on where gold
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  Speaker 2: and silver are heading, as well as the dollar and
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  Speaker 2: the stock market.
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  Speaker 3: Well, look, gold's still under pressure. We need this shift in,
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  Speaker 3: I would say, geopolitics. Right now, the press is like,
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  Speaker 3: you know, you got Besson up there. Oh, this is D-Day,
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  Speaker 3: you know, sanctions. When have sanctions ever worked? We still
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  Speaker 3: have sanctions on Cuba since 1960. Sanctions on Iran didn't
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  Speaker 3: stop anything. Sanctions on Russia, they didn't raise the white
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  Speaker 3: flag and say sorry. But, you know, it's good soundbites.
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  Speaker 3: But unfortunately, a lot of people in the markets kind
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  Speaker 3: of believe that. Oh, okay, fine. So you see gold
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  Speaker 3: going down because they think this is going to be
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  Speaker 3: settled somehow. And our computer disagrees. You know, Trump has
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  Speaker 3: backed off on the bombing largely because about two-thirds of the,
• 14:57
  Speaker 3: you know, missile stockpile has been used and nothing happened. Uh,
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  Speaker 3: so I don't know. It it's, we have to get
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  Speaker 3: past the midterms. Our computer is still showing everything will
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  Speaker 3: start to really heat up. And from December on, um,
• 15:18
  Speaker 3: and then we're going to have, you know, chaos. I
• 15:22
  Speaker 3: expect really probably the Democrats to take the house. Um,
• 15:27
  Speaker 3: I mean, it's a tighter race on the Senate. I mean,
• 15:31
  Speaker 3: if they got the Senate too, then you're going to
• 15:33
  Speaker 3: see an impeachment trial on Trump. Without the Senate, they'll
• 15:39
  Speaker 3: probably just do investigations on everything else. But impeachment, probably not,
• 15:47
  Speaker 3: because they know the trial would have to be in
• 15:50
  Speaker 3: the Senate. It would just be another headline. without any
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  Speaker 3: substance to it. But look, I think this is where
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  Speaker 3: you're looking at. And this is why I think you've
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  Speaker 3: got Kushner and Rakoff doing this on the side voluntarily.
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  Speaker 3: They're not government employees. And what that does, it's the
• 16:22
  Speaker 3: same thing that Hillary had. Hillary used a private server. Okay.
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  Speaker 3: The difference is the Freedom of Information Act says they
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  Speaker 3: got to turn over all the memos, everything in government,
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  Speaker 3: not privately. So the fact that Kushner and Rakoff are
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  Speaker 3: not on the payroll Everything they do is not subject
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  Speaker 3: to the FOIA. And that's what Hillary was doing. When
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  Speaker 3: they found out about her server, then they would have
• 17:00
  Speaker 3: to subpoena her separately, and then she destroyed everything. I
• 17:09
  Speaker 3: think they understand what's going on, which is why they're
• 17:14
  Speaker 3: not part of the actual administration. So it's going to
• 17:20
  Speaker 3: get interesting, I would say. But we're going to see
• 17:24
  Speaker 3: a lot of headlines, things back and forth. It's not
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  Speaker 3: going to help the economy. The economy is still going
• 17:31
  Speaker 3: to be in a global recession. And I don't see
• 17:35
  Speaker 3: that ending until about 2028. So it's just a mess.
• 17:43
  Speaker 3: You're seeing division everywhere. AFD won in Germany. They call
• 17:49
  Speaker 3: them Nazis. The press won't even report them or nobody
• 17:57
  Speaker 3: telling everybody don't form any kind of a party with them.
• 18:04
  Speaker 3: And they call them Nazis simply because they're against migration.
• 18:09
  Speaker 3: They're not Nazis killing people. But, you know, hey....
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  Speaker 2: So you really think we're going to have some kind
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  Speaker 2: of gasoline shock or diesel shock coming up in the
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  Speaker 2: coming year, huh?
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  Speaker 3: Look, the problem, I mean, I've heard the nonsense, oh,
• 18:30
  Speaker 3: you know, this has been orchestrated by Trump to make
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  Speaker 3: so America is selling the oil to everybody. Very nice,
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  Speaker 3: but nice theory. If and the US ends up having
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  Speaker 3: to provide gasoline to Europe and Asia, guess what? We
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  Speaker 3: got rationing coming back. We don't have that much. We
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  Speaker 3: got enough to sustain ourself, okay? But not to export
• 19:06
  Speaker 3: refined products around the world. So that means in order
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  Speaker 3: to keep the world economy going, They will have to
• 19:14
  Speaker 3: impose rationing here, as they did in World War II.
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  Speaker 2: And in the 70s, remember, it was lines.
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  Speaker 3: I don't know. Back then in the 70s, it was rationing,
• 19:31
  Speaker 3: but you didn't get a book. It was if your
• 19:35
  Speaker 3: license plate was... Yeah, utter even. I remember I had
• 19:38
  Speaker 3: to go buy a Ford... Pinto station wagon. It was
• 19:42
  Speaker 3: a four cylinder just to get the work. And I
• 19:47
  Speaker 3: had to pay full price. because it was the last
• 19:49
  Speaker 3: one on the lot. Everybody was now trying to buy it. Yeah,
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  Speaker 3: I mean, I remember those days. But in World War II,
• 20:03
  Speaker 3: they had a rationing book. So you had to stamp.
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  Speaker 3: You had to pull it out and give the guy
• 20:07
  Speaker 3: the stamp to get the gasoline. So, I mean, back then,
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  Speaker 3: it wasn't rationed. It was just odd or even. World
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  Speaker 3: War II.
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  Speaker 2: It was a primitive form.
• 20:24
  Speaker 3: Yeah, I mean, in World War II, it was about
• 20:26
  Speaker 3: owning so many gallons. So, but we would eat them back... Yeah.
• 20:35
  Speaker 3: We would go back to rationing. If you're talking about
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  Speaker 3: having to provide gasoline and diesel, uh, and jet fuel
• 20:45
  Speaker 3: to the rest of the world. Um, and then how
• 20:49
  Speaker 3: do you do it? Like I said, you have to
• 20:52
  Speaker 3: shut down the plant, recalibrate it, and then start again.
• 20:56
  Speaker 3: And then if you're doing jet fuel, you can't do
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  Speaker 3: diesel or gasoline. Um, And Zelensky attacking the refineries in Russia,
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  Speaker 3: they're off the grid now.
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  Speaker 2: It's madness.
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  Speaker 3: They've got shortages of line. And so they can't export
• 21:18
  Speaker 3: any of that. China's cut off exporting diesel. And Zelensky's
• 21:25
  Speaker 3: there pounding his chest. The guy's a lunatic. So....
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  Speaker 2: Yeah, we established that. I think we've established that fairly well.
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  Speaker 3: The computer, as of the morning, the last couple of years,
• 21:41
  Speaker 3: it's showing a recession into 28, but our forecast, the
• 21:47
  Speaker 3: computer was correct. They called it stagflation, so that you're
• 21:51
  Speaker 3: looking at energy prices rising, kind of like the 70s. Okay,
• 21:59
  Speaker 3: so the economic growth declines. but the prices go up,
• 22:06
  Speaker 3: you know, so shortages in diesel, things of this nature
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  Speaker 3: are serious that because it affects online, you know, commerce
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  Speaker 3: as well. How do you deliver things if you can't
• 22:20
  Speaker 3: get it out by a truck?
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  Speaker 2: Um, that's a good question. Uh, we don't have enough
• 22:26
  Speaker 2: electric vehicles at this point, do we?
• 22:29
  Speaker 3: No. And they can't go that far. Um, couple hundred
• 22:33
  Speaker 3: miles and then that's one way right so um correct
• 22:41
  Speaker 3: it's definitely going to be challenging because without jet fuel
• 22:45
  Speaker 3: then you can't even fly this stuff to a local
• 22:47
  Speaker 3: warehouse um so and everything's just going.
• 22:52
  Speaker 2: Up so uh oil prices how high are they gonna shoot.
• 22:59
  Speaker 3: Our computer projects a maximum that it could go to
• 23:03
  Speaker 3: is probably close to $ 200. And look, on the energy side,
• 23:13
  Speaker 3: beside the Strait of Hormuz, now the Houthis are attacking Saudi.
• 23:21
  Speaker 3: There have been alleged attacks on their pipeline. Nothing just yet.
• 23:27
  Speaker 3: They cut down their pipeline a lot. But if the
• 23:32
  Speaker 3: hoodies blow up the pipeline, you're talking about prices going crazy.
• 23:41
  Speaker 3: And you take Canada, for example. Most people don't realize,
• 23:46
  Speaker 3: but Alberta is kind of like they call it the
• 23:49
  Speaker 3: Texas of the North. They got the beef, the mining,
• 23:53
  Speaker 3: and the oil. But there are no pipelines from Alberta
• 24:00
  Speaker 3: to the east of Canada. So the east of Canada
• 24:04
  Speaker 3: ends up still importing oil from the Middle East. So
• 24:09
  Speaker 3: Canada's gone crazy. Now you have Carney out there.
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  Speaker 2: It's nuts.
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  Speaker 3: You know, it's... They're just so anti-Trump. Yeah. And they're
• 24:23
  Speaker 3: just globalists and they refuse to give this up. So
• 24:27
  Speaker 3: Carney's pushing to be an associate member now of the EU.
• 24:33
  Speaker 3: I mean, how this benefits Canada, I don't know. Just
• 24:36
  Speaker 3: look at the economic growth of Europe. It's plummeted. Italy's
• 24:42
  Speaker 3: at 0.5%. I mean, you talk about GDP, it's just...
• 24:52
  Speaker 3: It's off the cliff over there. And they're going to
• 24:55
  Speaker 3: go into war. That's what they're looking at, that it's
• 25:00
  Speaker 3: the only way out of this economic crisis for them.
• 25:04
  Speaker 3: And Carney's looking at chipping money into their defense fund.
• 25:09
  Speaker 3: And he will most likely also institute a draft. It's
• 25:14
  Speaker 3: just a real mess everywhere you look. It's just nobody
• 25:17
  Speaker 3: seems to be rational anymore. And I mean, they call
• 25:22
  Speaker 3: it the Trump, you know, deranged syndrome, but I think
• 25:28
  Speaker 3: it is, you know, he gets a bit, I don't know.
• 25:33
  Speaker 3: He makes a lot of jokes and people tend to
• 25:36
  Speaker 3: take it seriously. Like his 51st state stuff. I mean,
• 25:42
  Speaker 3: I've dealt with Alberta. I mean, there's no way they
• 25:48
  Speaker 3: can become the 51st state. First of all, The Constitution
• 25:53
  Speaker 3: expressly states that has to go, you know, be approved
• 25:58
  Speaker 3: in Congress. Then I warned them. I said, look, you
• 26:04
  Speaker 3: don't understand the implications politically. If Alberta wanted to come
• 26:08
  Speaker 3: in as the 51st state, they get two senators, plus
• 26:13
  Speaker 3: whatever congressman according to population. But the Democrats were going
• 26:18
  Speaker 3: to freak out because it's going to change the power.
• 26:20
  Speaker 2: Yeah, they'll never agree.
• 26:22
  Speaker 3: So they will demand Puerto Rico, Guam, and Washington, D.C.
• 26:28
  Speaker 3: So it becomes into a real fluke for me, you know?
• 26:31
  Speaker 2: Yeah, well, what about a commonwealth? Alberta could be like
• 26:37
  Speaker 2: Puerto Rico.
• 26:37
  Speaker 3: They valorize. That they should just set up their own country.
• 26:44
  Speaker 3: That if they adopt the dollar, some people have proposed that.
• 26:50
  Speaker 3: I said, if you adopt the dollar... then you're going
• 26:54
  Speaker 3: to be in the same position. If the Fed raises
• 26:57
  Speaker 3: rates or lowers rates, it's going to affect you. All right.
• 27:02
  Speaker 3: The whole problem in Canada was that the East Coast
• 27:06
  Speaker 3: is more liberal per se and not commodity oriented. So
• 27:13
  Speaker 3: the Bank of Canada was raising interest rates in the
• 27:17
  Speaker 3: 80s to fight real estate speculation in Toronto. and they
• 27:22
  Speaker 3: were putting miners and farmers into bankruptcy in Alberta. We've
• 27:27
  Speaker 3: always called it the Texas-New York arbitrage. When Texas is booming,
• 27:34
  Speaker 3: oil prices are high, and New York is screaming about inflation.
• 27:39
  Speaker 3: And when New York is doing great, you know, and
• 27:43
  Speaker 3: oil is down. So we always called it the New
• 27:46
  Speaker 3: York-Texas arbitrage. But I mean, that's, we've got basically four
• 27:54
  Speaker 3: different types of economies within the United States, you know,
• 27:58
  Speaker 3: and Canada is the same way. It's commodity-versed on one
• 28:01
  Speaker 3: side versus, you know, woke and liberalism on the other side.
• 28:07
  Speaker 2: Croissant economy.
• 28:11
  Speaker 3: Well, then you got the French. I mean.
• 28:15
  Speaker 3: The French are the ones that got 200% tariffs on
• 28:18
  Speaker 3: agriculture against the United States to protect French farmers. And
• 28:26
  Speaker 3: then Canada is such a mess that every province can
• 28:32
  Speaker 3: put tariffs and restrictions on other provinces. See, our constitution
• 28:38
  Speaker 3: prevents- Yeah, we have the commerce.
• 28:40
  Speaker 2: Yeah, we have the commerce clause here. In theory, it
• 28:43
  Speaker 2: works that way. But in reality, it's not so smart. Like,
• 28:48
  Speaker 2: California's got its own custom gas blending that Trump is
• 28:51
  Speaker 2: trying to get rid of now.
• 28:53
  Speaker 3: Right. They changed some regulations on quality. Europe plays that game. Oh,
• 29:03
  Speaker 3: you can't sell any food here if it was grown
• 29:07
  Speaker 3: with this type of fertilizer. You know, that sort of thing. Right.
• 29:12
  Speaker 3: It becomes a trade restriction. That's not tariff. But, I mean,
• 29:23
  Speaker 3: when you look at the world, it's like, you know, Scotty,
• 29:26
  Speaker 3: please beam me up. It's just complete chaos. Look, that's
• 29:36
  Speaker 3: part of what our computers project. and going into 2032.
• 29:41
  Speaker 3: It's got to go nuts to get everybody to see
• 29:47
  Speaker 3: that we do need change.
• 29:51
  Speaker 2: Yeah, well, we're in one of these transition points. I
• 29:56
  Speaker 2: think most people Out there, you're just trying not to
• 29:58
  Speaker 2: go bankrupt, trying to pay your mortgage, make your car payments,
• 30:04
  Speaker 2: and all of this stuff is driving you crazy. Problem is,
• 30:08
  Speaker 2: there's no real alternative vision that the opposition party traditionally
• 30:15
  Speaker 2: would provide. The opposition view now is split between traditional
• 30:22
  Speaker 2: Democrats and Democrats, Socialists, whatever they are, and either one
• 30:30
  Speaker 2: is really a disastrous course for the country.
• 30:34
  Speaker 3: Even Bernie Sanders, I mean, oh, we'll put a 5%
• 30:38
  Speaker 3: tax on billionaires. First of all, it's not cash. Okay?
• 30:43
  Speaker 3: They're a billionaire because of his stock value. So, most
• 30:48
  Speaker 3: of these guys that have taken a company public, they
• 30:54
  Speaker 3: keep just the minimal amount, 51% or whatever to keep control.
• 31:00
  Speaker 3: And so if they had to pay a 5% tax,
• 31:04
  Speaker 3: then they have to sell stock. Okay? So if they
• 31:09
  Speaker 3: sell stock to be able to pay the tax, not
• 31:12
  Speaker 3: only does the stock go down because they're the ones selling,
• 31:16
  Speaker 3: but they lose control of the company. These people, you know,
• 31:22
  Speaker 3: come up with these ideas. They don't understand even how
• 31:26
  Speaker 3: the economy functions. If you really think that any of
• 31:34
  Speaker 3: these guys, Bezos or whatever, and they have, oh, they're
• 31:39
  Speaker 3: a billionaire and that's cash in the bank. It's not.
• 31:42
  Speaker 3: It's just asset. It's kind of like basically going to
• 31:45
  Speaker 3: you and say, oh, you bought your house for 100 grand.
• 31:48
  Speaker 3: It's now worth a million. We want you to pay
• 31:50
  Speaker 3: a tax 5% on the million. How do you pay that?
• 31:54
  Speaker 3: You got to sell the house. Then where you live. Um, it's.
• 32:04
  Speaker 3: First of all, raising taxes. It doesn't work. Anyhow. They've
• 32:09
  Speaker 3: been raising taxes. God. Since 1913. All right. It never
• 32:15
  Speaker 3: solves the problem because these people, if they got $ 10,
• 32:19
  Speaker 3: they'll spend 12. Um, It's just the way the system functions.
• 32:27
  Speaker 3: Like I said, it's funny where Trump says, I'll give
• 32:35
  Speaker 3: you $ 5, 000 if the Republicans win. In one hand, that's
• 32:40
  Speaker 3: more honest than what they do. Vote for me, I'll
• 32:43
  Speaker 3: give you a free car and a lollipop. Both sides,
• 32:48
  Speaker 3: they're just bribing people for votes. It's not.
• 32:53
  Speaker 2: Well, at least they're honest. At least they're honest about
• 32:57
  Speaker 2: it now.
• 32:57
  Speaker 3: What did H.L.
• 32:58
  Speaker 2: Mencken said? That elections are just an auction of goods
• 33:02
  Speaker 2: yet to be stolen?
• 33:04
  Speaker 3: That's about it.
• 33:09
  Speaker 2: All right. Well, hey, so gold, where is it heading
• 33:13
  Speaker 2: at this point once it gets through this consolidation?
• 33:18
  Speaker 3: Well, it will go up, but you're not looking at
• 33:20
  Speaker 3: until next year.
• 33:24
  Speaker 2: Mm-hmm.
• 33:25
  Speaker 3: People have got to realize what we're doing right now
• 33:32
  Speaker 3: is that the geopolitical thing is not going to be solved.
• 33:36
  Speaker 3: And Europe's going to get worse. You now have China
• 33:41
  Speaker 3: threatening to cancel any summit with Trump because U.S. sends
• 33:47
  Speaker 3: military equipment to Taiwan. Mm-hmm. You know, these countries that think, okay,
• 33:55
  Speaker 3: we're neutral, but here's all the bullets you need. You're
• 33:59
  Speaker 3: not neutral then. All right. The Germans took, you know,
• 34:04
  Speaker 3: sunk the Lusitania because it was filled with ammunition. They
• 34:09
  Speaker 3: were using civilians to cover. You know, and at the time, oh, no,
• 34:16
  Speaker 3: we would never do such a thing. You can look
• 34:19
  Speaker 3: at Archaeological Magazine, 1987. They found Lusitania. The government then
• 34:24
  Speaker 3: came out, oh, be careful, there's ammunition in the hull.
• 34:29
  Speaker 2: And remember, the Germans took out ads in the paper
• 34:34
  Speaker 2: saying they were going to sink the Lusitania. This is
• 34:36
  Speaker 2: a historical fact. Well, the more things change, the more
• 34:40
  Speaker 2: they stay the same. The hand just rearranges the players
• 34:43
  Speaker 2: in the game, and that's it. So looking at gold prices.
• 34:47
  Speaker 3: The third stage just understands that. Gold still under consolidation yet.
• 34:54
  Speaker 3: I think things, we get these three elections, which are
• 35:00
  Speaker 3: going to impact a lot. First, you got the Duma
• 35:03
  Speaker 3: in Russia in September. Then you got Netanyahu in Israel
• 35:06
  Speaker 3: in October. And then you got the midterms. And like
• 35:10
  Speaker 3: I said, Iran is playing a reverse regime change. They're
• 35:16
  Speaker 3: hoping to overthrow Netanyahu and, you know, basically neutralize Trump. Yeah.
• 35:23
  Speaker 2: Interesting times ahead. Well, you'll find out more on armstrongeconomics.com.
• 35:29
  Speaker 2: Any questions or comments for Marty, shoot me an email,
• 35:32
  Speaker 2: kl at kerrylutz.com. Marty, always appreciate you coming on, and
• 35:38
  Speaker 2: we will talk to you again next month.
• 35:40
  Speaker 3: All right, take care. See you again later.
• 35:42
  Speaker 1: Thanks for listening to Cary Lutz's Financial Survival Network, your
• 35:46
  Speaker 1: solution to today's trying times. For the latest, go to financialsurvivalnetwork.com.
• 35:53
  Speaker 1: Financial Survival Network, now more than ever.