Latest / Financial Survival Network / Global Economic Transition on the Way -- Andy Schectman #5883

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Global Economic Transition on the Way -- Andy Schectman #5883 · Financial Survival Network

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The Bank of inter National Settlement send. By twenty twenty five, every single
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country meets to have a set an operation ES Central Bank chitual currency. And
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when I see the lights that they are going to meet their agenda and all
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of these things, I get a nervous that you know, they will put
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the squeeze on things like bitcoin and all cryptocurrencies. I don't think they want
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to compete. I wonder if their eyes set on precious metals. I hope
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not. You are listening to Carry Letts's Financial Survival Network where you get valuable
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information you just can't find anywhere else to thrive in today's trying times. You
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than ever. And welcome you are listening to watching the Financial Survival Network.
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I'm your host, Carry Lutts. Hey, we're getting down to the l
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last week of August. Gold prices going up, silver prices going up.
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I mean today alone, silver was up eighty nine cents nearly four percent,
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gold up one percent, and we saw the little weakness in the metals prices,
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but they're rebounding and no wonder when you look at the state of the
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world, the impending implosion of the Chinese economy and potentially the collapse of the
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CCP, the Chinese Communist Party. You look at the war in Ukraine,
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quagmire seems like that's what the West specializes in, is quagmires, as they
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used to call Vietnam, and every war since Vietnam has bennet quag meyer.
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What's that going to do to the world economy? What's that going to do
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to precious metal prices? Well, got a treat for you, Miles.
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Franklin's CEO, Andrew Shekman is with us. Andy. Welcome back, Harry,
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my favorite. Good to see your brother. Thanks for having me.
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Hey, So I didn't have a chance to sit down with you at the
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Rick Rules Symposium, which I felt badly about. But I couldn't go every
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day. But I just can't do their shows every day anymore, especially when
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it's in my backyard and I can pick and choose. But maybe it's better
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because things have progressed further. Firsts, what's your take on what's happening now?
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Well, you know, my take is twofold. You know, for
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a long time. My take is focused almost entirely for almost for three and
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a half four years, over twelve hundred YouTube videos on this formation of the
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bricks, the alliance that is being built in the Bell Road Initiative, the
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Shanghai Cooperation Organization, the Eurasian Economic Union, the Bricks New Development Bank,
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of course, the bricks themselves, and there's growing alliance that centered around the
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mismanagement of the world reserve currency, the weaponization of the dollar, and the
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antagonization Saudi Arabia pushing them away, signing an executive order saying that by twenty
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fifty will be eighty five percent green, by twenty thirty will be fifty hella
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Saudi Arabian essence. Yeah, we're going in a different direction, and people
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forget that. It is the protection of the Saudi teamdom and by extension,
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their willingness through OPEC to denominate oil globally and dollars that has given us the
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geminy that and the faith and credit of the US government. Let's examine that
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for a moment before I do, I'd like people who understand that there are
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two main economic advisors to the US government at this point, to the Biden
3:38
administration Number one is a man named Jared Bernstein, and Jared Bernstein's whole thesis
3:43
is to relinquish the world reserve currency. He's written with reports that have been
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picked up in New York Times and The Washington Post, the most infamous being
3:52
Dethroned King Dollar, where he advocates immediately for the US government to abandon the
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world reserve status because of the distortion and trade and balances it creates. In
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fact, he says the exorbitant privilege of being the as a point, well
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it's out. Here's the point. If you wanted to get rid of the
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world reserve currency, the first thing you would do would be to weaponize the
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dollar to kick Russia out of Swift, to confiscate their forex reserves. And
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the second thing you would do is to push Saudi Arabia away. Telman,
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We're going great. We don't need you anymore. And that has enabled Saudi
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Arabia to join the Bell Road, along with every other old country to join
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the Bricks. And we believe they will be formally announced today or tomorrow,
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being that the Bricks meeting just started yesterday Tuesday, the twenty second today being
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the twenty third They've also joined the new Development Bank the Shanghai co Operation Organization.
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The shanghaik co Operation Organization is the largest regional military and financial group in
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the World's Chinese Army. In essence, but you have a situation where we
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have fostered this dedollarization we have. We couldn't have drawn up Jared Burnsteth's plan
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and it better. But let's talk about the full faith and credit. The
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US budget or balance sheet rather came out for twenty twenty two the other day.
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You can google this and just ask Google what is the twenty twenty two
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US balance sheet? What does it look like? And you'll find that they
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admit to one hundred and fifty five trillion in debt and the largest being,
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the largest indebtedness being unfunded liabilities Medicare, medicaid, a government military pensions,
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and social security north of one hundred and thirty trillion. The key point here's
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all of this is old to the American public. Even when you look at
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the bonds, the bond situation right now, you have the majority of the
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central banks of the world shedding treasuries. Yet the American public, in search
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of yield, flooded into US treasuries, so you am the majority of all
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of the debt owed really old to the American people, which fits very much
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into what I'm going to get at here for a moment. The number two
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economic advisor to the Biden administration is a lady named Leo Brainer, who is
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a modern moneteer. She worked at the FED, she worked at the Treasury.
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She ran coin for FED Now, which just came out of the payment
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system like Zel, only administered by the Federal Reserve. And she's also a
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modern monetary theorist who worked with them in developing the executive order driven central bank
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digital currency. The Biden administration has put into motion, as demanded by the
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Bank of International Settlements that everyone has to have one by twenty twenty five.
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And when you look at the interest rates where they are on treasuries, when
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you look at the ability for the commercial banks to invest their money market funds
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into the overnight adverse repo market by the FED, you have a situation where
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the regional banks putch are paying in essence one half of one percent in the
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savings account or maybe four and a half percent in a one year CD.
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They're dead in the water. They're going to be bailed in. You're seeing
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all of these bank downgrades by Moody's, an S ANDP. You see that
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und grade by Fitch. But the law that was put into place well and
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during the Don Frank Act says that banks need to be bailed in, not
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bailed out. And that's why there was such an uproar when Silicon Valid Bank
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could Sinatal Bank were bailed out, even though they supposed Billy said it won't
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be part of the tax fair burden. They were bailed out. They're going
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to be bailed in. Well, that fits right into wailed Brainerd's thesis.
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But let's talk about the full faith and credit, just to bring it all
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home. Well, lump sets me more than anything. If we already talked
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about the credit, one hundred and fifty five trillion in debt, five trillion
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in assets, forty percent of our assets or student debt. We take that
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out of the equation. We have three and a half trillion in assets batching
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one hundred and fifty five trillion in debt. And remember how big a trillion
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is. A trillion seconds ago was thirty one thousand, six hundred and eighty
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eight years ago. But the game is all but over. We are a
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Banana republic, were insolvent. Our debt to GDP ratio is one hundred and
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thirty to one. That is a Banana republic. Only differences. We don't
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jail our political opposition. Oh wait a minute, we don't. We should
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probably think didn't worry though, right, And so we did, right.
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And that is what is not being lost on our foes and our friends.
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On top of a few other things, this country's obsession with cancil culture,
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with censorship, with transgenderism, with a breakdown in law and order, and
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the way that it is distributed in terms of justice equally or non equally in
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this case, and the weaponizing of the Justice department in the FDI, to
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me is by far the most alarming thing of all of these things. You
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put it all together, we have a division and divisiveness. Red versus blue,
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black versus white, rich, verse poor vacs no vacs. We are
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not a unified country. We are broke, We are insolvent. The justice
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department and the rule of law is all upside down. On top of weaponizing
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the dollar, pushing away the lynchpin of the dollar, a gemany of that
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being so to Arabia, incentivising them to go to grow or before become part
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of a group that represents almost ninety percent in human population. I mean it's
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as if they are trying to reset the system end up. The best way
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to reset the system is to find a villain. When body said it was
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Putin's inflation, I knew from right then and there they're looking for a villain
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because Kerry, you understand Austrian economics. Every single time inflation is an increase
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in the money supply. Look at the money that we created over the last
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four years. That submission created all these distortions and asset prices. That's inflation,
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right. And the fact that they plainted on Putin, well, what
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better way to blow up the whole system because we're so indebted and have nothing
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in the way of assets, offshort all of our production. Then to find
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a villain. We incentivise Saudi Arabia to at some point remember all the OLDEC
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countries around the Bell Road, to say, hey, listen, you guys
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are going green, sign an executive order. We appreciate the fifty years worth
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of protection, but we'll nind ourselves. So two of the three largest nuclear
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arsenals in the world ninety percent of human population, and guess what, none
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of them are going green. So we respect what you're doing. We're now
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going to take oil and other currencies. Whatever that other settlement currency is.
10:18
If it's the brick settlement currency, if it's yuan, if it's rupy,
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if it's ruble, if it's gold, I don't care as long as it's
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not dollars, because when the dollar gets dumbed globally because no one needs to
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hold it exclusively to buy oil, it's the great reset. As the dollar
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hits our shores and collapses and interest creates spike, it's trouble. And you
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know, if it were just that and not what's happening inside this country,
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where there is no more unity or law and order is not what it used
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to be, then I think it would be easier to swallow, because this
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country does well when it's back against is against the wall. But now our
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back is against the wall with both arms and both legs together. Was ziptized,
11:01
And I don't know how this all plays out, So I wish my
11:05
message was not one of of being such a buzz kill. But I find
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what's happening in this country to be more disturbing to me than anything economically,
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I see offshore, which is as gross as it gets in and of itself.
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I couldn't agree with you more, Andy, I mean these problems basically,
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the country's coming apart at the seams, you know, I mean we're
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becoming a failed state, right, I mean absolutely. I mean, look,
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you used to say the plan liberty and justice for all people walk thousand
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miles through from Central America to get to the US, to find liberty,
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to get a regime that treats them with respect and liberty and your injustice and
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freedom. Well, I mean it used to say these things even exist anymore.
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When you look at what's happening around us, it's really quite horrifying.
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If you asked me, is if I design? That's the question? Is
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it if Jared Bernstein's plan, in Lale Ladd's plan, get rid of the
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banks, go modern monetary theory, lose the world reserve currency, blow up
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the whole system, find a villain, I don't know, sure would make
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a compelling story. It sure does. Man, if I was writing a
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novel, I don't think it could be more exciting. Huh, Yeah,
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I mean it certainly. It almost gives a novel, and I hope I'm
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wrong. I got three kids, my youngest is sixteen. I truly,
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honest to God, hope I'm wrong. But every day it's reinforced his idiocy
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and lunacy that we see around us as being reinforced, and that to me
12:33
is the biggest problem. Everything else is a sideshow, the macro picture.
12:37
And then you take a look at the positioning of big investors out there.
12:41
Michael Burry just put ninety three percent of his edge pot over one point six
12:45
billion short. He got Warren Buffett, the legendary valued investor, right,
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he's got one hundred and forty seven billion in short term treasury. He's not
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in the market in short term treasuries because he's waited for an event a collapse,
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to jump the bit and buy everything pages on the dollar, which reminds
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me of one thing. You know. Thomas Jefferson had a very famous statement.
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I'm going to read it because I'll butcher it, but his statement was,
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and he said this three hundred years ago. He said that if we
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allowed the Central Bank to the United States to ben fill the money supplied,
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we would wind up renting back the land that our fathers conquered. Well,
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look, first fight inflation. We've already seen that everything was inflated. Asset
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prices went to the moon. We suppressed interests for it. Look at the
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housing market. What's happened now and now comes deflation. As rates keep rising,
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it's going to blow up the entire system. And is that what they
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wanted? Because you look at the albasine market. We keep seeing rates rise
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and it's going to blow up the banks. It'll blow up the housband market,
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it'll blow up the bond market. And then you've got guys like Buffett
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and Black Rocket would come in and buy everything at tennis on the dollar and
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we rent from them. It's almost like Cloud Schwamp's statement of the old nothing
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and you'll be happy, you'll rent. It's coming true, and you know
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they are they following Thomas Jefferson's advice or the opposite of it rather, because
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it really, it really has some some reading to it that it's it's setting.
14:16
So I wish I wasn't so pessimistic these days. Carryet number was,
14:18
but yeah, well it's hard to stay optimistic. So what do you make
14:24
of what's going on with cryptocurrencies and bitcoin in particular. We had talked a
14:28
while ago and you said you'd heard that they were going to crash it come
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last November. I think it crashed in December or January, and you know
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now it's trading below thirty thousand. What do you think is going on with
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that? You know, I don't know how much power they really have to
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ultimately derail it. I mean, they could pass each Look, there's no
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question the Bank of inter National Settlement said by twenty twenty five every single country
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needs to have a set an operation central bank digital currency. And when I
15:01
see the lengths that they are going to meet their agenda and all of these
15:05
things, I get nervous that, you know, they will put the squeeze
15:09
on things like bitcoin and all cryptocurrencies. I don't think they want to compete.
15:15
I wonder if their eyes set on precious metals. I hope not.
15:18
You know, the one thing that gives me a little bit of hope is
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you have all of these states out there that have made gold and silver legal
15:24
tender Texas, Missouri, Idaho, Alaska, Wyoming, North Carolina, and
15:28
so Oklahola, Nevada. You know none. I am not a big cooin
15:33
hater, but I do think that it has caught the attention of the administration.
15:37
I wonder where all of these IRS officials or why they were all hired.
15:43
I think there is a lot of a lot of what's the word I'm
15:52
looking for. I think the administration and the powers that be don't love a
15:58
decentralized payment system. I think they wouldn't like to put the combostion on it.
16:03
And you know, look, I believe enough in the fact that they
16:07
are in some ways cut from the same cloth, at least in terms of
16:11
mentality, where I don't think there's a problem with owning some bitcoin. In
16:18
fact, I think it's probably a smart idea, but I wouldn't put all
16:23
of my eggs in that basket. I think, you know, dipping your
16:26
toe in the water and owning some a coup of coins, maybe one coin,
16:30
whatever is not a bad idea at thirty thousand dollars or whatnot. And
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if it goes down lower by some more, how it plays out in the
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end not sure. But I don't have faith in a lot of things right
16:44
now that are pushing back or standing up to this system. And I wonder
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to what extent this administration will go to you know to put the kaimash on
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that, and maybe the most frightening thing I've seen yet when you talk about
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lengths that this administration is going, and I know it's coming from a source
17:02
that some people will say, well, you know, and consider the source.
17:04
But Alex Jones came out with something yesterday and it was terrifying, and
17:10
he basically said that a whistleblower from Homeland Security told him this isn't debatable,
17:15
it's already in stone pandemic yep, and that by October all airline passengers and
17:22
airline personnel in the airports will be mask mandated, and by December they're going
17:27
to lockdowns again in full COLVID protocol out of a new variant coming out of
17:33
Canada. He says, this isn't conjecture, this has already been told to
17:37
them, that it is happening if they do that, and they try to
17:41
do this mail in ballot bullshit, And just along the same lines of what
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I'm talking about about the denigration of what this country stands for, I think
17:52
we're in a really world of hurt. And if I were going to make
17:55
one prediction to your listeners out there, it is that you will see more
18:00
bank failures. This is Moodies and SMP's way of saying, we told you
18:03
so, but this time they're going to be bailed in, not bailed out.
18:07
That Don frank Law said, they must be bailed in it and when
18:11
that happens, it's next time. I think all hell breaks loose in this
18:15
country. So these are not exciting times to me. What they are are
18:21
very interesting times. And I'm not optimistic about the way everything plays out over
18:26
the next fifteen months. But if they if they really try to lock us
18:30
down the way they're trying to lock up President Trump in what is a failed
18:38
a failed mentality, a failed rhetoric, I will have lost a lot of
18:45
hold in what the future brings for this country. I honest to God,
18:51
Carrie, I hint even saying this stuff not who I am inside. I'm
18:53
a happy guy. I'm a happy, go lucky guy. And yeah,
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same here. They may beware right now, I do not. I hope
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I'm wrong, but I don't like what I see all right? Man?
19:06
Well, hey, but in good news, you can finally order metal from
19:10
most states directly on the Miles Franklin website. Congratulations, Andy, it's a
19:15
long time coming. And we will be able to do all states very soon.
19:19
There are states that have tax laws like mahind state of Florida here where
19:23
on the website. We haven't opened up Florida yet because if your two thousand
19:26
dollars or under their state packs. When people pauus to buy in Florida,
19:30
we say, it's got to be over two thousand. But we will be
19:33
registered in all fifty states, in all the states that collect sales tax.
19:37
California's the same way. Anything over two thousand, no tax, anything under
19:42
tax. And so we can regulate that on the website without having tax software
19:49
from a company called Alvalara, which is very very complex. And so between
19:55
that and having a pop with all of our systems are CRM Management System,
20:02
all of our payment systems, it's all being integrated. We're we're almost fully
20:07
operational, but we've got it about seventy percent operational right now. So thanks,
20:11
I appreciate it all right, man, Well, hey, you know
20:15
the journey of a thousand miles begins with a single step, right, yeah,
20:19
it does. And look, Mike, I said, I mean,
20:22
I'm a patriot, I believe in this country. And hopefully we were able
20:26
to there's enough munity left in this country to stand up against what is coming.
20:32
But good blood, wake up and be aware that this is this time,
20:36
it's a little bit different, Andy, you know, It's like it's
20:40
like you're up there in that seven forty seven and it's gone into a dive.
20:45
And once a plane goes into a dive, that's the hardest, hardest
20:49
emergency maneuver to pull out of because you've got all these g forces fighting against
20:56
you, and you got physics, you got gravity and all of that.
21:02
Hey, it's definitely it's not impossible, but it can be highly unlikely,
21:08
and you've got a very limited amount of time in which to correct your course
21:12
before you augur in, as they call it. So, hey, man,
21:15
I'm with you. Hey, my kids are going to have to deal
21:19
with it. I'm at the point where, hey, you know, however
21:22
much I have left, I have left, it's not going to affect me
21:26
the way it's going to affect younger people like your kids, my kids.
21:30
But we've got to be aware of the realities and plan accordingly. You know,
21:36
you're not going to succeed by being an ostrich and digging your head into
21:41
the sand, for sure, So it's Miles Franklin dot com. Go there
21:45
see if your state too. If it's qualified to buy metal on the site,
21:51
tell them we sent you Andy will give you the best price available.
21:56
Yeah, if these orders are over ten thousand dollars, we don't do it.
22:00
Can over ten thousand on the site, you'll call Send us an email
22:03
at info of Miles Franklin, say the financist, Bible Network or carry sent
22:07
me. We'll send you a price list that is far more competitive than what
22:10
we see on the website. And so whether you can do it in your
22:15
state or you're thinking of a larger order, call us. We'll make sure
22:18
that your listeners are getting as good of a price as they'll find, and
22:22
personalized service, and we will definitely treat your people as family. So certainly
22:27
appreciate the affiliation over all these years carry means a lot to me. All
22:30
Right, Hey, if you got a question for Andy myself, shoot me
22:33
an email at kl at carry Lutz dot com. Make sure you can go
22:37
to the site. You'll get the link to Miles Franklin, and while you're
22:40
there, signed up for our free newsletter Financial Survival Network dot com. Hey,
22:45
Andy, always a pleasure, Thanks for stopping by London. Brother,
22:48
you stay well, talk to you soon. Thanks for listening to carry Lets's
22:52
Financial Survival Network, your solution to today's trying times. For the latest,
22:57
go to Financial Survival Network dot com. Financial Survival Network now more than ever,