Latest / Financial Survival Network / Fed Trapped by $10 Trillion Debt - Mike Manwell #6399

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Fed Trapped by $10 Trillion Debt - Mike Manwell #6399 · Financial Survival Network

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Speaker 1: Welcome, this is Financial Survival Network. You're watching us, you're
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Speaker 1: listening to us, hopefully somewhere, Hopefully you haven't been shadowband
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Speaker 1: off the face of the planet, but that's always a
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Speaker 1: possibility when we're dealing with our digital masters. A mic
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Speaker 1: from Rethinking the Dollar is with us, Mike's been a while,
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Speaker 1: but it's always great to connect with you. And well,
0:50
Speaker 1: we got a changing of the guard in the Federal Reserve.
0:53
Speaker 1: And I noticed that my interest rate on my credit
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Speaker 1: card went down five points yesterday, my hallucinating did this
1:02
Speaker 1: happen or I didn't notice any change? Like? Really?
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Speaker 3: Right, right, carey? How you do?
1:07
Speaker 1: My friend? Thanks for having me on.
1:08
Speaker 3: And yeah, interesting times where in what I call the
1:11
Speaker 3: monetary twilight zone, we're caught in the middle of what
1:14
Speaker 3: will be either a very interesting new appointee or a
1:18
Speaker 3: very disappointee appointing depending on what side of iwe you're
1:21
Speaker 3: on how you look at them. But Kevin Walsh is
1:23
Speaker 3: on the clock now and we'll have to wait to see.
1:26
Speaker 3: But I would hope my breath as far as expect
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Speaker 3: anything beneficial for the average investor or, you know, savor
1:33
Speaker 3: of federal reserve notes. But we can talk a lot
1:35
Speaker 3: more about that. But other than that, everything's well, my friend,
1:37
Speaker 3: good to see you.
1:38
Speaker 1: Yeah, so yeah, So about the fad, Obviously, we've got
1:43
Speaker 1: wars going on all over the place. Cuba is going
1:46
Speaker 1: to fall any day, which I think is going to
1:49
Speaker 1: be very bullish for the southeast because there's going to
1:53
Speaker 1: be a huge reconstruction effort there. You know, obviously it's
1:58
Speaker 1: not going to have well some of who is going
1:59
Speaker 1: to happen day one. I have a friend that works
2:02
Speaker 1: for a large civil engineering firm and I said, hey,
2:07
Speaker 1: did you guys, Do you guys have anything to do
2:09
Speaker 1: with getting ready for Cuba for grid restoration? And he said,
2:17
Speaker 1: that's not my department. The guys in Puerto Rico are
2:20
Speaker 1: the ones who are going to be handling that. I
2:22
Speaker 1: can't really name the company, but it's in infrastructure and
2:27
Speaker 1: large infrastructure projects. It's a household name. So they're staging
2:33
Speaker 1: these because the first thing they have to do. Look,
2:36
Speaker 1: the United States going to own Cuba. It does effectively,
2:40
Speaker 1: and nobody else is coming to their rescue right correct,
2:44
Speaker 1: There is nobody else to do it. So anyway, that's
2:48
Speaker 1: my feeling is the Southeast is going to have a
2:50
Speaker 1: major boom logistics, hubs, capital flows because in Florida alone
2:57
Speaker 1: there's over a million Cuban you know, expatriots, and they
3:05
Speaker 1: want to put their money to use and help their people.
3:08
Speaker 1: It's going to be a boom that in Venezuela as well.
3:12
Speaker 1: There already is, and Venezuela is more Texas, but it's
3:16
Speaker 1: still Florida as Florida's got seaports. So anyway, that's just
3:19
Speaker 1: my take there. But the geopolitical chessboard here has been
3:25
Speaker 1: greatly upset, hasn't it right? Right?
3:28
Speaker 3: And that's what's front and center right now, And so
3:30
Speaker 3: you have the you know, straight up amoo situation, which
3:32
Speaker 3: is of course, I don't believe it's going to get
3:34
Speaker 3: any better anytime soon, because it has to do a
3:37
Speaker 3: lot of with the regional divide that you're kind of
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Speaker 3: hitting that where you have the Eastern hemisphere centered around
3:42
Speaker 3: the Middle East and their allies, which is Russia, China,
3:45
Speaker 3: the Global South, and then you have the Western hemisphere,
3:47
Speaker 3: which is the G seven nations, and you know that
3:50
Speaker 3: I guess the US is desired to have more so
3:54
Speaker 3: say so over the south and south of the Equator
3:58
Speaker 3: nation states. So that's what we're with. Is he now
4:00
Speaker 3: with the on geopolitical side, So I don't anticipate no
4:03
Speaker 3: changes there, but that's what they're using as a catalyst
4:07
Speaker 3: to distract our attention from all the things bubbly under
4:09
Speaker 3: the surface, which I believe will be the real catalyst
4:13
Speaker 3: to some sort of systemic shock that I believe is
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Speaker 3: going to occur at some point soon, because I believe
4:20
Speaker 3: the US needs some type of cover for the amount
4:23
Speaker 3: of the liquidity that's going to be needed to keep
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Speaker 3: this debt Ponzi scheme over the economy going. So yeah,
4:30
Speaker 3: it's just what will be that trigger point will be
4:32
Speaker 3: the next question.
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Speaker 1: So that's a good question. I said from the beginning
4:36
Speaker 1: of the real action in the Middle East isn't at
4:39
Speaker 1: the Straits of Hormuz, at the Strait of hor Mooz.
4:42
Speaker 1: It's actually on the northern border of Iran where the
4:47
Speaker 1: kurt reside, and the only way this gets resolved is
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Speaker 1: a Kurdish invasion. I think they're training them now I'm
4:56
Speaker 1: the surprise that hasn't happened yet, but I guess they
4:59
Speaker 1: don't well the pieces in place, but clearly that's where
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Speaker 1: the action is. So the horror moos straits of horn
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Speaker 1: mooves is a head fake, but it's also a head
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Speaker 1: fake to the global financial system. Right, everybody focused on
5:14
Speaker 1: the strait of horror moves, and the real action has
5:17
Speaker 1: taking place behind the scenes.
5:19
Speaker 3: Correct, correct, I agree, And so some of those things
5:22
Speaker 3: have taking place what I what I call under the surface,
5:25
Speaker 3: are all things that impact the overall global financial structure.
5:29
Speaker 3: And so because debt is obviously a problem. Now you
5:32
Speaker 3: have all the sovereign debt issues, you know, buying yields
5:35
Speaker 3: is becoming very problematic, is high. It's becoming harder to
5:38
Speaker 3: hide those things, and so literally there is need for
5:42
Speaker 3: some type of official cover to sail to the world
5:45
Speaker 3: as the reason why central banks need to become more
5:48
Speaker 3: accommodate in order to I guess support and free their
5:53
Speaker 3: Iranian people. On one side, if we get into a
5:56
Speaker 3: bigger broader war, but all along crop up the banking
5:59
Speaker 3: structure and the entities that stand to lose a lot,
6:02
Speaker 3: i e. The holders of US liabilities as I call them.
6:07
Speaker 3: And so what would it be? Will it be the
6:09
Speaker 3: private credit side of things? That's showing some some issues.
6:12
Speaker 3: We got the real estate issue. We have just the
6:16
Speaker 3: higher servicing of our own national debt with the deficits
6:20
Speaker 3: and things of that nature. So something has to give
6:22
Speaker 3: soon enough, and I don't know what it will be,
6:25
Speaker 3: but I know one thing for sure. As I mentioned
6:28
Speaker 3: start this off, Kevin Walsh has stepped into a job
6:31
Speaker 3: that I personally would not want no parts of because
6:34
Speaker 3: he's going to be, in my opinion, he's going to
6:37
Speaker 3: take the blame or the fall because it's no solution
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Speaker 3: to this debt problem, like literally, like that only thing
6:44
Speaker 3: the FAC can do is accommodate, and it's just a
6:47
Speaker 3: matter of how much. And that is a result of
6:50
Speaker 3: how big of a shock that will be brought to
6:52
Speaker 3: the US and the world for that matter. So I
6:56
Speaker 3: think we're gonna see some figures that's going to make
6:58
Speaker 3: that last stock i e. The health situation we had
7:01
Speaker 3: looked very small compared to what they're going to have
7:04
Speaker 3: to do to prop things up.
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Speaker 1: So yeah, it's ironic that the dollar is in so
7:10
Speaker 1: much trouble and yet everything else is in so much
7:13
Speaker 1: worse trouble. You know, it makes you kind of wonder,
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Speaker 1: doesn't it.
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Speaker 3: Right, It was just like, can can we get a break?
7:22
Speaker 3: And the one thing I believe that excites me beyond
7:27
Speaker 3: you know, the things I talk about primarily is the
7:29
Speaker 3: current price right now of silver at seventy five thousand ounce,
7:34
Speaker 3: after what we've witnessed over the last what was it
7:36
Speaker 3: sex six seven, eight months now of just continual climb
7:39
Speaker 3: upward towards numbers that I would have never been able
7:42
Speaker 3: to tell you that's what we should expect at this
7:44
Speaker 3: particular point, and then to have a cooling off from
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Speaker 3: one twenty down to seventy five, Like literally, I just
7:50
Speaker 3: you know, I just realized, based upon what I anticipate coming,
7:54
Speaker 3: we're gonna look back and like, man, I didn't get enough.
7:57
Speaker 3: I didn't get enough silver to protect the preserve I
8:01
Speaker 3: to structed with my fair reserve notes.
8:04
Speaker 1: Yeah, well, you know I did a special silver report
8:07
Speaker 1: which is available on my substack to my paid subscribers,
8:13
Speaker 1: but it's called Living the Silver Back lifestyle. And you know,
8:18
Speaker 1: in nineteen sixty well put it this way, in nineteen
8:21
Speaker 1: sixty four, a gallon of gasoline was two silver dimes.
8:27
Speaker 1: And you know, two silver dimes now buys you, like,
8:33
Speaker 1: even at these inflated rates, it still buys you, like
8:37
Speaker 1: a few gallons of gasoline. It buys you more than
8:39
Speaker 1: it did then. And actually, back before they took silver
8:45
Speaker 1: out of the coinage, our coins traded at a monetary premium,
8:51
Speaker 1: meaning that the price of silver was like back then,
8:56
Speaker 1: it was getting close to a buck, and but the
9:00
Speaker 1: amount of silver was only ninety percent silver. So the
9:04
Speaker 1: actual amount. I have a whole table where I track everything,
9:08
Speaker 1: and basically, if you had bought silver at nineteen sixty
9:15
Speaker 1: five prices for face value, actually you would be so
9:20
Speaker 1: far ahead right now, you know, like six thousand percent return,
9:25
Speaker 1: and you didn't have to do anything. You know, you
9:28
Speaker 1: didn't have time it. All you had to do was
9:31
Speaker 1: buy and hold. Literally. Now there were times where it
9:35
Speaker 1: wasn't that great a deal, but it still has gone
9:38
Speaker 1: up and up and up and above the stated rate
9:42
Speaker 1: of inflation, right, you know.
9:44
Speaker 3: And it's interesting you say buy and hole, like during
9:47
Speaker 3: that era it wasn't so much about buying is more
9:49
Speaker 3: so about redeeming. Like you know, take your feed a
9:52
Speaker 3: reserve notes to the bank and actually get a couple
9:55
Speaker 3: rolls of coins, and you have done far better having
9:59
Speaker 3: gotten rid of some of those sort of reserve notes.
10:01
Speaker 3: Then holding on to them is more likely what I
10:04
Speaker 3: would have lifted it as. But then fast forward to today,
10:07
Speaker 3: you know, majority of people don't even realize the importance
10:10
Speaker 3: of holding precious metals because we've been steered and been
10:12
Speaker 3: lowered into the current stock market illusion that it can
10:17
Speaker 3: only go up, and when it's centered around the magnificent seven,
10:22
Speaker 3: that is pretty much the focal point of this economic
10:25
Speaker 3: boom that we're supposed to be have. And everything is
10:27
Speaker 3: senter around technology, and so if and when something corrects, gives,
10:32
Speaker 3: or just happens to have a little bit of a glitch,
10:35
Speaker 3: people will find out what they really hold. And if
10:38
Speaker 3: you didn't redeem at this current price of seventy five
10:41
Speaker 3: thousand dollars, you're gonna have to pay a lot more
10:43
Speaker 3: paper to get that same ounce of silver or gold
10:47
Speaker 3: or whatever it is. It tickles your fancy, but you
10:49
Speaker 3: better believe you're gonna come out a lot more paper
10:50
Speaker 3: notes than you would have if you took advantage of
10:53
Speaker 3: that today for sure.
10:54
Speaker 1: Sure. Hey, and just going back to two thousand, you know,
11:00
Speaker 1: silver was like three four dollars an ounce, so you know,
11:04
Speaker 1: that's not that long ago. That's within a lot of
11:07
Speaker 1: people's memory of times past. So and it's probably going
11:15
Speaker 1: to you know, triple from here, especially if price of
11:19
Speaker 1: gold keeps going up, which we expect it to. The
11:23
Speaker 1: only way the price of silver and gold don't go
11:27
Speaker 1: to the you know, to the moon is if we
11:30
Speaker 1: have a major deflationary collapse of the currency, and that
11:35
Speaker 1: can happen like it happened in the Great Depression, when
11:38
Speaker 1: all of the people that owe the money can't pay it,
11:42
Speaker 1: you have nast defaults, and that is effectively what's happening.
11:50
Speaker 1: What will happen is you're going to have this because
11:54
Speaker 1: the debt's increasing geometrically, and at some point it won't
11:58
Speaker 1: be the US that defall, but all the other people
12:01
Speaker 1: with dollar denominated debt are are going to have to
12:06
Speaker 1: pay it, and they're going to default because what people,
12:10
Speaker 1: what you might not understand, is when when dollars get
12:16
Speaker 1: created at the printing press, the digital printing press, right,
12:20
Speaker 1: but the way they get destroyed is when debt is paid,
12:24
Speaker 1: all right, because then the dollar is the debt and
12:27
Speaker 1: then the debt gets paid. So that's why we keep
12:31
Speaker 1: needing greater and greater amounts of debt in the system
12:36
Speaker 1: in order to get more money into the system. But
12:39
Speaker 1: once once the cycle gets reversed and people actually start
12:45
Speaker 1: paying or defaulting. So two ways debt gets destroyed and
12:49
Speaker 1: then dollars get destroyed. Number one is all of a sudden,
12:53
Speaker 1: all the debtors pay off their debt. And number two
12:57
Speaker 1: is the debtor is default on their debt all right,
13:02
Speaker 1: because then once the loan is wiped out the currency
13:06
Speaker 1: that it was created, right, because we know, like when
13:09
Speaker 1: you borrow money, they don't just take money that's sitting
13:13
Speaker 1: in the safe and the bank and hand it for you.
13:16
Speaker 1: They print the money right correct, correct, Well, the elastic
13:20
Speaker 1: money supply. So you know, that's what happened during the
13:25
Speaker 1: Great Financial Collapse, which is why the Federal Reserve was
13:29
Speaker 1: writing sixteen trillion dollars worth of checks to banks all
13:32
Speaker 1: over the world to keep them a bloat. The next
13:35
Speaker 1: time it happens, it's going to be even worse. So
13:39
Speaker 1: you know it's going to be.
13:42
Speaker 3: That's why I think Kevin Walsh is on the hook
13:44
Speaker 3: because he's going to have to pick which a level
13:48
Speaker 3: of debt he's willing to support. And of course, our
13:51
Speaker 3: sovereign debt is the primary issue that is coming do
13:54
Speaker 3: this year. And so I was looking at some figures
13:57
Speaker 3: that we have close to ten trillion dollars of short
14:00
Speaker 3: term T bills that were taken out during the doing
14:04
Speaker 3: the Biden administration, and that's coming due within the next
14:07
Speaker 3: six months or so. And that right there is going
14:10
Speaker 3: to become front and center between now and the end
14:12
Speaker 3: of this year. And so that's just on the sovereign level.
14:15
Speaker 3: But then you've got corporate level, and then you have
14:17
Speaker 3: the personal side of things. So we already know, we
14:20
Speaker 3: already know that the consumers already tapped out for the
14:22
Speaker 3: most part, credit card, all time highs, other metrics, you
14:25
Speaker 3: name it, so they don't mind letting them suffer a
14:28
Speaker 3: little longer. The corporate side can kind of get some
14:31
Speaker 3: support from the probably banking structure or whatever they can
14:34
Speaker 3: kind of figure out or the dependency on stocks and
14:37
Speaker 3: their buyback programs to raise equity value actions. But then
14:41
Speaker 3: on a corporate level, I mean on a government level.
14:44
Speaker 3: That's where we're going to find out, you know, how
14:46
Speaker 3: much and how fast they'll be willing to accommodate. Because
14:49
Speaker 3: if ten trillion roughly is due within the next six
14:53
Speaker 3: months or so, hand to automatically just pay off ten trillion,
14:58
Speaker 3: the government, our treasury has to now I'll come up
15:01
Speaker 3: with some excuse or reason to borrow the equivalent plus
15:04
Speaker 3: our deficit of about more point nine or so trillion.
15:07
Speaker 3: So that'said eleven trillion dollars that will be needed to
15:11
Speaker 3: keep this system afloat, just within the US. And so
15:14
Speaker 3: the question is what will be their cover to use
15:17
Speaker 3: that as a reason for creating that much currency in
15:21
Speaker 3: such a short time. And that's my point about Kevin
15:24
Speaker 3: washes on the hot seat right now.
15:27
Speaker 1: Well, he asked for the job, he wanted it, right,
15:34
Speaker 1: and that's the.
15:36
Speaker 3: Chair person. My assumption would be that, you know, those
15:40
Speaker 3: behind the scenes, those behind the curtains that's trying to
15:43
Speaker 3: construct and control this reset that we're in. They have
15:46
Speaker 3: some plans. Now it's just a matter of well they
15:49
Speaker 3: have enough time to execute their agenda. And of course
15:52
Speaker 3: I can get into what I think to all that
15:53
Speaker 3: it's about. But yeah, the question is if you see
15:57
Speaker 3: a train wreck coming, do you get out of the
15:59
Speaker 3: way or do you you just continue to go along
16:01
Speaker 3: for the ride. And that's what the average person has
16:02
Speaker 3: to decide between now and the end of the year.
16:05
Speaker 3: I believe, yeah, sounds like a real train wreck. So
16:08
Speaker 3: ten trillion dollars huh?
16:10
Speaker 1: So how do you roll that over?
16:12
Speaker 3: Right? You roll it over simply by the government coming
16:15
Speaker 3: to an agreement on the need to issue new debt.
16:19
Speaker 3: And right now, with the divide on the political front
16:21
Speaker 3: and the midterm coming up, we won't get no type
16:24
Speaker 3: of bipartisan support, even though some will be needed, because
16:27
Speaker 3: both sides stand to lose if this government debt isn't
16:31
Speaker 3: accounted for. And so I don't know what the catalyst
16:34
Speaker 3: will be. I don't know what the excuse will be.
16:35
Speaker 3: But once again, the government has to agree upon issuing
16:39
Speaker 3: this mode of debt. And the question is, you know,
16:42
Speaker 3: will to be short long term debt? Because bying yields
16:45
Speaker 3: now are way higher than they were when all this
16:48
Speaker 3: debt was taken out by Jenny Yelling under Biden. So
16:52
Speaker 3: you got four to five percent interest raised on short
16:54
Speaker 3: and long It's like, okay, no matter what our governments
16:58
Speaker 3: in a tight squeeze and above a trillion dollars two
17:02
Speaker 3: is it spells a mess in the making. And holtimately
17:05
Speaker 3: what it boils down to is that's just the expansion
17:08
Speaker 3: of the monetary balance sheet and the currency debasement. So yeah, yeah,
17:14
Speaker 3: it just seems like things are intensifying faster and the
17:18
Speaker 3: world is watching. And that's why it makes it easier
17:20
Speaker 3: for other nation states to really make some choices on
17:23
Speaker 3: no longer supporting the government's debtbench and diversifying out out
17:27
Speaker 3: of liabilities as I call them, into gold and silver.
17:31
Speaker 3: And that's why I'm sure you saw a posts on
17:34
Speaker 3: X on X about the future calls options for gold
17:38
Speaker 3: and silver by the end of this year, and so
17:41
Speaker 3: you have you know, the Michael Oliver's are talking about
17:43
Speaker 3: three to five hundred silver this summer, and there's people
17:45
Speaker 3: actually believing that, you know, we're going to see one
17:48
Speaker 3: thousand dollars silver by December of this year. And then
17:52
Speaker 3: of course, god, I think the future call options the
17:54
Speaker 3: highest range was about ten thousand dollarsand ounce. So you know,
17:58
Speaker 3: my thing is what are they inticipate, painting, expecting, or
18:01
Speaker 3: what do they see Those that are willing to put
18:03
Speaker 3: that much money on the line for that type of
18:06
Speaker 3: bet there so one ten thousand gold silver said okay,
18:09
Speaker 3: you know that could line with this ten trillion that
18:12
Speaker 3: need to be created.
18:15
Speaker 1: What's going to happen to the comex if silver hits
18:18
Speaker 1: a thousand? I mean it almost broke when it hit
18:21
Speaker 1: one hundred and twenty. Remember they raised the margin requirements
18:25
Speaker 1: three times, and they did everything they could. Finally, I
18:30
Speaker 1: think what happened was they jumped on the bandwagon and
18:33
Speaker 1: helped bit it up above the technical price, which is
18:36
Speaker 1: probably in the nineties, and then when it hit one twenties,
18:40
Speaker 1: it was technically weak, and then they were able to
18:44
Speaker 1: crash it, you know, right right, that's what they've batten with.
18:49
Speaker 3: And that's where like you know, I don't follow the
18:51
Speaker 3: delivery side as much because I just encourage people to
18:54
Speaker 3: focus on the possession itself, because I think unless you
18:57
Speaker 3: specialize and I actually wash the flows and things of
18:59
Speaker 3: that nature, you can get caught up in the weeds
19:01
Speaker 3: of you know, trying to keep a track of what
19:04
Speaker 3: they're doing. But as long as we know that they're
19:06
Speaker 3: manipulating in their best interest, not in ours, get what
19:10
Speaker 3: you can when you can because once something breaks and
19:12
Speaker 3: we have that systemic shock that I'm referring to, they're
19:15
Speaker 3: gonna use you know, that's going to be that's going
19:17
Speaker 3: to be a very off off topic subject matter that
19:21
Speaker 3: the world won't even think about because we're gonna be
19:23
Speaker 3: focused on whatever that event is to where they will
19:25
Speaker 3: be able to maneuver and somehow some way wiggle their
19:28
Speaker 3: way out of being the blame for the lack of
19:31
Speaker 3: available silver. And I wouldn't be surprised that, you know,
19:35
Speaker 3: because of the environment that will be in if we
19:37
Speaker 3: get to that point of something just being completely systemic
19:40
Speaker 3: in nature, I can see the crimex as well as
19:43
Speaker 3: the saying gold exchange and all those other entities, the
19:45
Speaker 3: set price going offline for a minute or something, where
19:49
Speaker 3: it'll be emergency measures. Therefore a emergency response on their
19:53
Speaker 3: end to where you know, like they can just you
19:56
Speaker 3: know say, you know, nothing's being sent out, nothing's being delivered,
19:58
Speaker 3: you know, focus on the matter at hand, which is
20:00
Speaker 3: the threat is happening within the Middle East region. You know,
20:04
Speaker 3: you know, all eyes on Iran because of such whatever
20:07
Speaker 3: the excuse will be to cover up the real problem.
20:09
Speaker 1: So yeah, well, the war has always been used for
20:12
Speaker 1: that purpose, right, you have some short you.
20:14
Speaker 3: Want to share with us by the end, so I
20:17
Speaker 3: wanted to share something that I put together just highlighting
20:21
Speaker 3: more of the problem I believe Kevin Walsh is up
20:26
Speaker 3: against because as of now, what we're going to witness
20:32
Speaker 3: is what I call the great decision by Kevin Walsh
20:35
Speaker 3: as to whether or not he's going to remain neutral
20:38
Speaker 3: over the next couple of meetings and keep things somewhat
20:42
Speaker 3: calm right where they're at, or an event occurs between
20:46
Speaker 3: the next three to six months that forces him to
20:49
Speaker 3: use that as a cover to say we need now
20:51
Speaker 3: need to cut our interest rates to be more accommodative
20:55
Speaker 3: to the markets and the world, and or what we're
20:59
Speaker 3: witnessing now with all the pcees, the CPI, PPI, all
21:03
Speaker 3: those eyes trending upward indicating that you know, we should
21:08
Speaker 3: be expecting a second wave of higher cost to where
21:12
Speaker 3: he can't no longer not entertain the idea of hiking
21:17
Speaker 3: FED funds rates to stay credible as an entity because
21:21
Speaker 3: their reputation is on the line, because the American public
21:24
Speaker 3: is waking up and realizing that hey, something's wrong here
21:27
Speaker 3: and they're going to be looking for someone to point
21:29
Speaker 3: the blame to it, and you better believe Trump was
21:32
Speaker 3: not going to go down without pointing it somewhere. I e.
21:36
Speaker 3: Jerome Poull. You know, he's dumb, he's stupid, he's so lady.
21:40
Speaker 3: So he's the fall guy. So trumb will take the
21:43
Speaker 3: blame for this. He will point it somewhere, and you
21:45
Speaker 3: better believe it won't be in where it's going to
21:48
Speaker 3: be outwork. And what better person to do it than
21:50
Speaker 3: Kevin Waersh. He's new appointed. He didn't do what he
21:53
Speaker 3: was supposed to do. He promised me this, he didn't
21:55
Speaker 3: do that. So America, he cut rates. If only he's
21:59
Speaker 3: cuts right, Oh yeah, cut harder and faster, we would
22:03
Speaker 3: have the greatest you know, economy the world has ever seen. Okay, yeah, sure,
22:07
Speaker 3: but so this chart here, I'm not sure.
22:08
Speaker 1: If you uh yeah, you got you gotta put it
22:11
Speaker 1: on there. Okay, yeah, met, there we go.
22:14
Speaker 3: Okay, So I just put together a chart to highlight,
22:19
Speaker 3: you know, some of the dangers and what I believe
22:21
Speaker 3: the American public need to realize is the Federal Reserve
22:23
Speaker 3: is not your friend. And at this current moment, I'm
22:26
Speaker 3: starting somewhat of a narrative of the need for the
22:29
Speaker 3: average person to bet against the FED, because the Fed
22:32
Speaker 3: has been operating in their own best interests on behalf
22:35
Speaker 3: of the banking structure and not actually what they promise
22:38
Speaker 3: of price stability as well as the labor market and
22:42
Speaker 3: all those other things. But on this chart here, I
22:44
Speaker 3: just happened to just put the last several Federal Reserve
22:48
Speaker 3: chair men and women that impacted what I consider to
22:51
Speaker 3: be their asset, which is a Federal Reserve note, and
22:54
Speaker 3: which I consider our liability, which is our currency and proded.
23:01
Speaker 1: Just do me a favor, just tell us explain to
23:05
Speaker 1: us what a debt based currency is, because if you
23:08
Speaker 1: don't understand that, you're really not going to get it,
23:11
Speaker 1: are you very much?
23:13
Speaker 3: It's very true. Debt based currency is sympia what is
23:16
Speaker 3: labeled as a fiat currency, government issued currency by decree,
23:21
Speaker 3: and it started, of course with the federal creation of
23:23
Speaker 3: the Federal Reserve that became the financial overseer of our
23:26
Speaker 3: national currency. And as a result of that, everything that
23:29
Speaker 3: has been I guess transacted between our government and the
23:33
Speaker 3: central Bank has been based upon promises, promises to pay later,
23:37
Speaker 3: and of course, as a result of that, the United
23:39
Speaker 3: States of America has advocated the authority of our national
23:43
Speaker 3: currency to the Fair Reserve, and they are the primary
23:46
Speaker 3: issuers of our currency, whether it be digital or paper,
23:49
Speaker 3: and it's subjetitute taxation. And so they create and then
23:53
Speaker 3: we are taxed, and then they are They then repay
23:57
Speaker 3: back those liabilities that have been created. I eat, Treasury
24:01
Speaker 3: buyd So that is the debt base willed in a sense.
24:06
Speaker 3: And it's these individuals here and in more particularly their
24:08
Speaker 3: most recent was Kevin Walsh, who is on the hook
24:11
Speaker 3: and as I zoom in here just to speed, it's
24:14
Speaker 3: a park guy. He can be the fault guy. Because
24:16
Speaker 3: we see the trend since gone off the gold standard.
24:20
Speaker 3: Paul Volker raised rates to numbers that we could never
24:22
Speaker 3: imagine actually being beneficial because our debt load wasn't as high.
24:26
Speaker 3: But now with this amount of debt it's in existence.
24:28
Speaker 3: It's no way the US can remain solving never left,
24:32
Speaker 3: you know, intact, without containing the service that debt. And
24:35
Speaker 3: so the trend since Vulker all the way to Jerome
24:39
Speaker 3: pile exiting last week has been down, meaning that the
24:42
Speaker 3: US has needed to create more debt at cheaper costs,
24:45
Speaker 3: and of course the cost is becoming somewhat expensive no
24:49
Speaker 3: matter what to where we're now at three point four
24:51
Speaker 3: to six fair funds rate for whatever that's worth to
24:54
Speaker 3: whoever you know, spaying attention. But the trend is whatever,
24:57
Speaker 3: there's something a shock to the system. Either gray bars
25:01
Speaker 3: the feder reserve responds by becoming accommodate of ie cutting
25:04
Speaker 3: rich interest rates, which ensues and spurs lending amongst the
25:08
Speaker 3: private sect and everybody else. And so right now, with
25:11
Speaker 3: all this debt is due, and it's ten trillion that
25:14
Speaker 3: I'm talking about earlier, if it's due as well, he
25:16
Speaker 3: needs to get this fair funds down in order to
25:18
Speaker 3: make the debt somewhat respectable to service it.
25:22
Speaker 1: If it's not.
25:23
Speaker 3: If he goes up the opposite direction, the debt bubble deflation,
25:26
Speaker 3: everything that you reference becomes more of a problem and
25:29
Speaker 3: there's more of a tightening and a stranglehold on the economy,
25:33
Speaker 3: and it either implodes. It either implodes on itself from nope,
25:37
Speaker 3: not being able to service the debt, or it implodes
25:40
Speaker 3: from there be too much currency created or reinflated. Rather
25:43
Speaker 3: as I want to put it. So this just trying
25:45
Speaker 3: here just shows you know the direction. What will choose
25:48
Speaker 3: upward or down, and that will definitely lead to the world,
25:52
Speaker 3: the world choosing to make make some moves no matter what,
25:56
Speaker 3: because if they if they tighten, i e. Priest a
26:00
Speaker 3: fair funds rate the factionary and of course that's something
26:04
Speaker 3: where the world will choose to out out of the dollar,
26:07
Speaker 3: probably at a slower rate. And if they cut the
26:10
Speaker 3: world would literally need to literally dump everything just considered
26:16
Speaker 3: an asset from our government even faster, I believe, as
26:19
Speaker 3: based upon this trend here, some people say it can
26:22
Speaker 3: never go you know negative, but once again, we've never
26:26
Speaker 3: had a government this indebted at this low to wear.
26:30
Speaker 3: Why not first time for everything? I think. So that's
26:33
Speaker 3: just something I want to show. I have a couple
26:35
Speaker 3: other things, but I'll keep it sweet and something there
26:37
Speaker 3: that likes total sense. But for those who you know,
26:42
Speaker 3: see that there, like it's one of those things where, yeah,
26:45
Speaker 3: that's why Kevin worsh is in a tight spot man.
26:47
Speaker 3: And yeah, no matter what I think, the average person
26:50
Speaker 3: who is paying attention, is watching, who's hearing this, You're
26:53
Speaker 3: already aware that things aren't normal. And because things are
26:57
Speaker 3: not normal, it requires a literally extrayrategic approach to where
27:01
Speaker 3: you have to be very calculated with what you do
27:02
Speaker 3: because moving forward, it's going to be at very uncertain
27:07
Speaker 3: times and it'll just become more problematic that where there's
27:10
Speaker 3: no viable solution that will come from a politician, a president,
27:14
Speaker 3: or a central banker, that's for sure.
27:17
Speaker 1: Yeah yeah, okay, Well interesting man, I guess the moment
27:22
Speaker 1: of truth is going to be upon us shortly. Mike,
27:26
Speaker 1: appreciate you coming on. Just tell us where we find you,
27:29
Speaker 1: how we connect with you.
27:30
Speaker 3: On the web. Appreciate you, Appreciate you. Oh yeah, So
27:32
Speaker 3: Rethinking the Dollar on YouTube, rumbo, anywhere on the net
27:36
Speaker 3: is where you can find me. And then also have
27:38
Speaker 3: a website Rethinking the Dollar dot com where I have
27:40
Speaker 3: all archive, I have some educational material where I try
27:44
Speaker 3: to encourage people to go back and study history, and
27:47
Speaker 3: so I try to offer something unique. I call it
27:50
Speaker 3: monetary literacy, giving you more of an understanding of what
27:54
Speaker 3: our currency is, where it's come from, what it is today,
27:57
Speaker 3: and what I believe is being transitioned into. And of
28:00
Speaker 3: course that gets into the banks right now, working on
28:03
Speaker 3: tokenied deposits and all things like that, digitizing everything. But
28:07
Speaker 3: on a private side. But you know, that's kind of
28:09
Speaker 3: what I focus on. So readthinking the dollar on Internet.
28:12
Speaker 3: I'm there and I you know, yeah, trygic every people's
28:15
Speaker 3: best like at all?
28:16
Speaker 1: Right link in the show notes two your site, Mike
28:19
Speaker 1: and any questions comment shoot me an email kl at
28:22
Speaker 1: Carrie LUTs dot com. We will talk to you again soon.
28:25
Speaker 1: Really appreciate you coming on.
28:27
Speaker 3: Appreciate you.
28:27
Speaker 2: Okay, thank you, thanks for listening to Carrie Let's's Financial
28:31
Speaker 2: Survival Network, your solution to today's trying times. For the latest,
28:36
Speaker 2: go to Financial Survivalnetwork dot com. Financial Survival Network now
28:42
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