Latest / Financial Survival Network / Big Players in Crypto: BlackRock, KPMG, and the Nashville Conference - Robert Kientz #6118

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Big Players in Crypto: BlackRock, KPMG, and the Nashville Conference - Robert Kientz #6118 · Financial Survival Network

• 0:00
  Speaker 1: And essentially what the politicians want to do both RF
• 0:03
  Speaker 1: kan Trump with slightly different variations, is to use excess
• 0:08
  Speaker 1: FED reserves for the Federal Reserve system over the next
• 0:12
  Speaker 1: five years and by bitcoin, and in addition, revalue gold
• 0:16
  Speaker 1: certificates currently held by the Fed at forty two dollars
• 0:18
  Speaker 1: and twenty two cents to current market price. The Fed
• 0:22
  Speaker 1: ostensibly print the money and then pump it into bitcoin,
• 0:24
  Speaker 1: and then as bitcoin price rises, they'll liquidate that over
• 0:27
  Speaker 1: a twenty year period to pay down the national debt.
• 0:29
  Speaker 2: You are listening to Carrie Letz's Financial Survival Network where
• 0:33
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• 0:37
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• 0:41
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• 0:46
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• 0:50
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• 0:53
  Speaker 3: Ever, And welcome you are listening to and watch on
• 0:59
  Speaker 3: the Financial Survival Network. My name is Carrie Lutz, I'm
• 1:02
  Speaker 3: your host, and we've got Robert Kites with us today.
• 1:07
  Speaker 3: And Robert, you were just at the Bitcoin conference in
• 1:10
  Speaker 3: Nashville and you had a surprise visit from none other
• 1:14
  Speaker 3: than former President Trump and he had some interesting things
• 1:18
  Speaker 3: to say about about the kleptocurrencies.
• 1:22
  Speaker 1: Huh, yeah, there's a lot there. I want to get
• 1:26
  Speaker 1: into Trump's speech and the Senate build it's going to
• 1:29
  Speaker 1: be proposed to so mean he gets elected in November.
• 1:33
  Speaker 1: With regards to using bitcoin and paying off the federal debt.
• 1:36
  Speaker 1: I'll get to that in just a second. I wanted
• 1:38
  Speaker 1: to do general general thoughts on that conference real quick
• 1:43
  Speaker 1: for just a minute. This is the second time I've
• 1:46
  Speaker 1: gone to the bitcoin conference. The first time I just
• 1:48
  Speaker 1: navigated around and actually go into the conference. I just
• 1:50
  Speaker 1: it was a series of networking opportunities, which I think
• 1:53
  Speaker 1: are super valuable when you're a guy like me heading
• 1:56
  Speaker 1: for information, trying to understand the market, so on and
• 1:58
  Speaker 1: so forth. Those to me the more valuable when this
• 2:00
  Speaker 1: time I actually had an industry pass went in. We
• 2:02
  Speaker 1: were there the day before the conference for all the
• 2:04
  Speaker 1: industry guys, and then when the public showed up and
• 2:07
  Speaker 1: what you noticed, there are a lot more what we
• 2:08
  Speaker 1: call quote unquote suits at the conference than there were
• 2:11
  Speaker 1: in years past. I had a buddy with me that
• 2:13
  Speaker 1: had been to almost every bitcoin conference, and typically this
• 2:16
  Speaker 1: is a very freedom and libertarian oriented type of deal,
• 2:19
  Speaker 1: but now you saw black Rock and KPMG and all
• 2:22
  Speaker 1: these big companies getting involved. So also there's a lot
• 2:25
  Speaker 1: of lending based upon the current value of bitcoin and
• 2:28
  Speaker 1: a lot.
• 2:29
  Speaker 4: Of changes to mining.
• 2:30
  Speaker 1: Minings making a big comeback because as I realized, mining
• 2:34
  Speaker 1: bitcoin is essentially the way to control its valuations, and
• 2:38
  Speaker 1: now people are pumping money into the mining sector. One
• 2:41
  Speaker 1: of the key developers for bitcoin over the years had
• 2:43
  Speaker 1: the Spreak speech before Trump, and he was talking about
• 2:47
  Speaker 1: the current threats to the bitcoin environment, and he said
• 2:50
  Speaker 1: that the biggest threat are mining pools, that they're being
• 2:53
  Speaker 1: consolidated because it's such a cutthroat industry, and then the
• 2:56
  Speaker 1: people that own the mining pools now have power over
• 2:59
  Speaker 1: creation a bitcoin, and therefore there's a lot of centralized
• 3:02
  Speaker 1: what would called basically printing power in the bitcoin space,
• 3:05
  Speaker 1: much like the fed owns printing of the dollars. So
• 3:08
  Speaker 1: the existential threat to bitcoin right now is control of
• 3:11
  Speaker 1: the mining pools, which the developer admitted, being one of
• 3:14
  Speaker 1: the senior developers or bitcoin, admitted that was an existential
• 3:17
  Speaker 1: threat to whether the bitcoin would even survive. So that
• 3:20
  Speaker 1: was a key takeaway from that conference. Other other issues
• 3:24
  Speaker 1: layer two solutions if you don't know what that is.
• 3:26
  Speaker 1: Bitcoin itself is small block. It cannot process a lot
• 3:29
  Speaker 1: of transactions. They're building a layer two across and that
• 3:32
  Speaker 1: can be changed. It was a development decision, but they're
• 3:34
  Speaker 1: processing layer two across the top, which is really a
• 3:37
  Speaker 1: banking network in my opinion, because it requires liquidity pools.
• 3:41
  Speaker 1: It's a hubb and spoke model. What's a hubb and
• 3:43
  Speaker 1: spoke model would be the banking system. People that have
• 3:45
  Speaker 1: money are going to buy it, Bitcoin be liquidity providers,
• 3:49
  Speaker 1: and so Bitcoin is going to turn into some sort
• 3:51
  Speaker 1: of regional banking sort of based currency and not necessarily
• 3:55
  Speaker 1: the ten million owner decentralized network it was originally envisioned.
• 3:59
  Speaker 1: As I'm seeing influences in bitcoin that were pulling at
• 4:02
  Speaker 1: different directions in the original vision. And it was interesting
• 4:05
  Speaker 1: at the conference talking to people and their feelings on
• 4:07
  Speaker 1: that about how bitcoin is evolving, on whether it's going
• 4:10
  Speaker 1: to survive its original designed to be the true decentralized
• 4:13
  Speaker 1: people's money, whether it's going to be taken over by
• 4:16
  Speaker 1: financial interests and regulated by the government, and those are
• 4:19
  Speaker 1: some of the existential threats talked about the conference. Now
• 4:22
  Speaker 1: on to the Trump Trump made an appearance. RFK did
• 4:25
  Speaker 1: to two presidential candidates. We had ten different senators. Vivik
• 4:28
  Speaker 1: Ramaswami was there as well in the in the meeting
• 4:34
  Speaker 1: right after Trump, but the big news was Trump and RFK.
• 4:37
  Speaker 1: Trump and RFK both had similar plans for bitcoin, and
• 4:41
  Speaker 1: Trump was I guess the more widely attended one. They
• 4:43
  Speaker 1: were at least twelve thousand people standing roomonely watching his
• 4:46
  Speaker 1: And essentially what the politicians want to do both RFK
• 4:50
  Speaker 1: and Trump, with slightly different variations, is to use excess
• 4:55
  Speaker 1: feder reserves for the Federal Reserve system over the next
• 4:59
  Speaker 1: five years and by coin and in addition, revalue gold
• 5:03
  Speaker 1: certificates currently held by the Fed at forty two dollars
• 5:05
  Speaker 1: and twenty two cents to curve market price. Had the
• 5:08
  Speaker 1: Fed Fed ostensibly print the money and then pump it
• 5:11
  Speaker 1: into bitcoin, and then as bitcoin price rises, they'll liquidate
• 5:14
  Speaker 1: that over a twenty year period to pay down the
• 5:16
  Speaker 1: national debt. Now a couple of issues I have with this. Logistically,
• 5:22
  Speaker 1: the bill calls for them to buy up to a
• 5:24
  Speaker 1: million bitcoin over five years, and as you're pumping money
• 5:27
  Speaker 1: into it in terms of revalue gold certificate cash in
• 5:30
  Speaker 1: excess federal reserves. You're going to pump that value up,
• 5:33
  Speaker 1: and they say that they're going to sell it off
• 5:35
  Speaker 1: to pay for the debt over twenty years, But what
• 5:36
  Speaker 1: if they don't. Politicians are famous for saying we've got
• 5:39
  Speaker 1: a solution of the monetary problem, and then they get
• 5:41
  Speaker 1: that income, they spend it on something else.
• 5:43
  Speaker 4: So that's the first issue.
• 5:44
  Speaker 1: What are going to be the rock solid provisions that
• 5:46
  Speaker 1: the money is actually going to be used to pay
• 5:47
  Speaker 1: down the debt. That's the first concern. The second concern
• 5:50
  Speaker 1: is if I'm a bitcoin holder and the US government
• 5:52
  Speaker 1: is going to do the biggest pump into that. Think
• 5:54
  Speaker 1: of your like a stock, for example, in your Apple
• 5:56
  Speaker 1: and the US government says we're going to put a
• 5:58
  Speaker 1: trellion dollars into Apple over the five years, then we're
• 6:00
  Speaker 1: going to sell Apple stock pay out the federal debt. Well,
• 6:03
  Speaker 1: Apple stockholders probably aren't going to be too happy. I mean,
• 6:06
  Speaker 1: on the way up, they would, But if they're holding
• 6:08
  Speaker 1: it too long and this starts selling off the mass quantities,
• 6:10
  Speaker 1: it's going to collapse the value of that Apple stock.
• 6:12
  Speaker 1: Why because all you did was pump a bunch of
• 6:13
  Speaker 1: money into it. Right, So if I'm a bitcoin holder.
• 6:16
  Speaker 1: I'm looking at this going is this a good or
• 6:18
  Speaker 1: a bad thing? That the politicians now have grabbed a
• 6:20
  Speaker 1: hold of it and said we're going to use it
• 6:22
  Speaker 1: to our advantage. Well, you have the advantage of them
• 6:24
  Speaker 1: pumping money into it, but does that legitimize it or
• 6:27
  Speaker 1: does that set it up for a crash ten fifteen
• 6:29
  Speaker 1: years down the road. And if it's a crash, how
• 6:31
  Speaker 1: many people get wiped out in could bitcoin survive that?
• 6:34
  Speaker 4: So?
• 6:35
  Speaker 1: Is this a way that the government takes out their
• 6:36
  Speaker 1: competition or is this a way you know, is the
• 6:39
  Speaker 1: government really looking at bitcoin saying this is a solution
• 6:42
  Speaker 1: and Bitcoin's going to be a long term strategic asset.
• 6:44
  Speaker 1: The fact that they have an end date on this
• 6:46
  Speaker 1: in twenty years, that they're going to buy over funny,
• 6:49
  Speaker 1: buy over five and liquidate over twenty to me is
• 6:51
  Speaker 1: a pumpinged up scheme the way I perceive it. And
• 6:53
  Speaker 1: the other threat is that they're going to revalue the
• 6:55
  Speaker 1: goal certifics the FED has well. That leads to questions
• 6:58
  Speaker 1: over how many goals certific doesn't FED have? What domain
• 7:01
  Speaker 1: do they have over us gold? And are we pilfering
• 7:04
  Speaker 1: our goal value to pay off the national debt in
• 7:08
  Speaker 1: this scheme?
• 7:10
  Speaker 4: Do we even own the goal? There are all there's
• 7:11
  Speaker 4: so many questions I have about the scheme.
• 7:13
  Speaker 1: It seems to me that if I'm looking at this
• 7:16
  Speaker 1: as a supercynic of the US government, that I look
• 7:20
  Speaker 1: at it as a way that the US government is
• 7:21
  Speaker 1: propping up the dollar through revaluation of gold and pumping bitcoin,
• 7:25
  Speaker 1: and it's perpetuating the existing system. Now, does this extend
• 7:29
  Speaker 1: the life of the dollar beyond what people think it
• 7:31
  Speaker 1: currently is because of all the issues, all the money
• 7:34
  Speaker 1: printing and all the treasury debt. I don't know, but
• 7:36
  Speaker 1: it certainly seems like if you're super cynical, you could
• 7:39
  Speaker 1: look at this as a politician's way of keeping the
• 7:40
  Speaker 1: existing system. And you know, maybe they're moneyed interest in
• 7:44
  Speaker 1: there whispering in their ear saying, hey, this is a
• 7:46
  Speaker 1: great idea. Maybe the money Maybe this takes out the
• 7:48
  Speaker 1: Fed's competition.
• 7:49
  Speaker 4: I don't know.
• 7:50
  Speaker 1: But the other hand, with the FED, does the FED
• 7:53
  Speaker 1: really want to give up their gold certificate revaluation for
• 7:56
  Speaker 1: this scheme? Do they want to give up their excess reserves?
• 8:00
  Speaker 1: The FED is independent from the US government. It's owned
• 8:03
  Speaker 1: by large, large global banks. The stock is owned a
• 8:07
  Speaker 1: large global blank banks, so it's not owned by the
• 8:10
  Speaker 1: federal Government's an independent, quasi independent agency. Yes, they appoint
• 8:13
  Speaker 1: some of the FED chairman, but a lot of the
• 8:16
  Speaker 1: FED people are part of government appointment.
• 8:19
  Speaker 4: They're appointed by the FED itself.
• 8:20
  Speaker 1: So there's this weird relationship between the central Bank and
• 8:23
  Speaker 1: the government. And I'm not sure the Central Bank's going
• 8:25
  Speaker 1: to sign off on this. So I expect there to
• 8:28
  Speaker 1: be a lot of friction over this and be like
• 8:30
  Speaker 1: sandpaper trying to get this pass, and I expect a
• 8:33
  Speaker 1: big battle. But really it just I guess the biggest
• 8:37
  Speaker 1: point to take away from this, it looks like the
• 8:39
  Speaker 1: US government is getting a little desperate with regards to
• 8:42
  Speaker 1: the current system and evaluation the US dollar and hell
• 8:44
  Speaker 1: on that has to live, and I think that they're
• 8:46
  Speaker 1: grasping different things to try to perpetuate that system.
• 8:49
  Speaker 4: At least that's my takeaway from it.
• 8:51
  Speaker 3: Okay, so in effect, they want we're all holding the
• 8:56
  Speaker 3: bag anyway, So they rather re be holding a digital
• 8:59
  Speaker 3: bag than a literal bag.
• 9:02
  Speaker 1: Right, Yeah, they're looking for a way to say, yeah,
• 9:05
  Speaker 1: we overprinted, but we're not actually going to cut spending
• 9:07
  Speaker 1: or cut any of our programs, We're going to use
• 9:09
  Speaker 1: these other tools to pay it off over the next
• 9:10
  Speaker 1: twenty years, to try to extend that dollar over the
• 9:13
  Speaker 1: next twenty years.
• 9:13
  Speaker 4: Well, what does that do.
• 9:14
  Speaker 1: It extends the politician's power, because the politicians wouldn't have
• 9:17
  Speaker 1: the power of the pen that they have without the
• 9:19
  Speaker 1: dollar backing it up. Because if you can't create all
• 9:21
  Speaker 1: this money to fund all these war and welfare programs,
• 9:23
  Speaker 1: you can't make promises to your constituents, you lose your
• 9:25
  Speaker 1: power as a representative. And so I think there's an
• 9:29
  Speaker 1: element of that in there. I think there's an element
• 9:31
  Speaker 1: of they actually want to do something, but there's also
• 9:33
  Speaker 1: an element of how do we keep the system going?
• 9:36
  Speaker 1: And that's the part I think that should you know,
• 9:39
  Speaker 1: American consumers and the electorate should take a look at
• 9:42
  Speaker 1: with a little bit of a sideline and say, what
• 9:44
  Speaker 1: are your true motivations? And this needs to be talked
• 9:46
  Speaker 1: about before we do it, because if we're talking about
• 9:48
  Speaker 1: revaluing the goal, that needs.
• 9:49
  Speaker 4: To be a social conversation amongst the voters.
• 9:53
  Speaker 1: This is our war chest and if you're going to
• 9:55
  Speaker 1: revalue that war chest pumping at a bitcoin and pay
• 9:57
  Speaker 1: off the debt, that needs to be something American people
• 9:59
  Speaker 1: are aware of that they're talking about.
• 10:02
  Speaker 4: All right, So, but.
• 10:05
  Speaker 3: As a practical matter, here road government spending is going
• 10:09
  Speaker 3: to have to be cut dramatically.
• 10:11
  Speaker 1: Right The only way that the US government of the
• 10:14
  Speaker 1: dollar will survive in tandem, they have to cut spending
• 10:17
  Speaker 1: and they have to start paying some of it off,
• 10:19
  Speaker 1: and they are going to have to accept higher rates
• 10:21
  Speaker 1: on their bonds in order to pay it off and
• 10:23
  Speaker 1: to liquidate it. And believe this, the rest of the
• 10:27
  Speaker 1: world does not want to see the dollar crash right now.
• 10:29
  Speaker 1: There are too many foreign dollar and treasury holders. You know,
• 10:32
  Speaker 1: that they can't get rid of this stuff fast enough,
• 10:34
  Speaker 1: but they want a slow decline. And so I think
• 10:37
  Speaker 1: this is also a way for the US government to
• 10:39
  Speaker 1: assure some of their foreign dollar and debt holders that
• 10:43
  Speaker 1: we can keep this system going by this little trick
• 10:45
  Speaker 1: for twenty years. Don't come in and collapse a dollar
• 10:48
  Speaker 1: by just dumping treasuries or dumping the dollar. I think
• 10:50
  Speaker 1: the US government sees the d dollarization that's going on
• 10:53
  Speaker 1: around the world. They see the alternative currencies, they see
• 10:56
  Speaker 1: the alternative markets in the Belton Road, and I think
• 11:00
  Speaker 1: that they're trying to tell their foreign trading partners hate
• 11:03
  Speaker 1: We're going to have a plan to extend this at
• 11:04
  Speaker 1: least twenty years, and then we're going to get out
• 11:05
  Speaker 1: of it somehow. So I think this is very much
• 11:07
  Speaker 1: a political ploy as much it is potential financial solution.
• 11:11
  Speaker 3: Okay, yeah, well I you agree with that. I mean,
• 11:14
  Speaker 3: what else are they going to do?
• 11:15
  Speaker 4: You know? But let's face if.
• 11:18
  Speaker 3: The reality is coming, they're not going to be able
• 11:21
  Speaker 3: to keep spending and doing multi trillion dollar budgets deficits.
• 11:26
  Speaker 4: So what are they going to cut? Really, what are
• 11:29
  Speaker 4: they going to cut?
• 11:30
  Speaker 1: Well, they have to cut promises, and that's always the
• 11:32
  Speaker 1: last thing that a politician wants to do, because promises
• 11:35
  Speaker 1: are what gets you elected. To be honest with you,
• 11:37
  Speaker 1: money is the mother's milk of politics in the United States,
• 11:40
  Speaker 1: and with the Citizens' decision in twenty ten, corporations are
• 11:44
  Speaker 1: treated as people and they can contribute an unlimited amount
• 11:46
  Speaker 1: of money to the system. So the system is really
• 11:49
  Speaker 1: beholden to who has the last money, and so a
• 11:51
  Speaker 1: lot of decisions made in politics over who has the
• 11:53
  Speaker 1: most monetary influence. So I don't, you know, until that changes,
• 11:58
  Speaker 1: I don't see the politicians whine down this system. There
• 12:01
  Speaker 1: are too many There are too many influences from a
• 12:04
  Speaker 1: corporate perspective, especially international corporates that can now influence our
• 12:09
  Speaker 1: legislation based on simply pumping money into the system. And
• 12:13
  Speaker 1: until that changes, until that's reversed, and until there are
• 12:16
  Speaker 1: guidelines put on what the Euro's government could spend, maybe
• 12:19
  Speaker 1: it takes a constitutional amendment, it takes people getting really
• 12:22
  Speaker 1: pissed off basically and protesting nationwide things like that. I
• 12:28
  Speaker 1: don't see the current system changing. The incentive is to
• 12:31
  Speaker 1: keep it going as long as possible until it crashes.
• 12:33
  Speaker 1: There's no incentive to fix it. I don't think the
• 12:36
  Speaker 1: way the current system is wired. And that's what a
• 12:38
  Speaker 1: lot of people don't understand. What's good about the government,
• 12:41
  Speaker 1: especially at the state and local level, is if you
• 12:43
  Speaker 1: go talk to your government officials, they'll listen to you.
• 12:47
  Speaker 1: The people still have a tremendous amount of voting power.
• 12:49
  Speaker 1: They just don't realize the habit. If they just go
• 12:51
  Speaker 1: out and talk to the representatives, know that you can
• 12:54
  Speaker 1: influence what goes on. But it's really going to be
• 12:58
  Speaker 1: the American people have to speak up and they have
• 13:00
  Speaker 1: to get to be a part of the conversation because
• 13:02
  Speaker 1: if they're any and it's not going to happen at
• 13:04
  Speaker 1: the national level, and national level to me is lost
• 13:06
  Speaker 1: the money is there. That's a very difficult situation to
• 13:10
  Speaker 1: change if you're a citizen. But I think you can
• 13:12
  Speaker 1: change at state and the local level, and I think
• 13:13
  Speaker 1: that's where people can have to focus on it. But
• 13:15
  Speaker 1: you know, in terms of what the government and do,
• 13:18
  Speaker 1: they're down basically to desperation moves. If they were to
• 13:22
  Speaker 1: cut a bunch of spending, all these special interest would
• 13:25
  Speaker 1: just pull money from the campaigns and would just put
• 13:28
  Speaker 1: it to other people that they can elect that would
• 13:30
  Speaker 1: you know.
• 13:31
  Speaker 4: So it's very difficult. It's a very fluid situation.
• 13:33
  Speaker 1: It's very difficult for the government now to get control
• 13:35
  Speaker 1: of the finances at this point. I really think the
• 13:38
  Speaker 1: finances are more run by the Fed, the Central Bank,
• 13:40
  Speaker 1: and then the globals than they are anybody in Washington,
• 13:44
  Speaker 1: d c. Because they just influenced it with their money. Yes,
• 13:48
  Speaker 1: all right, Hey, so we were talking earlier. China is
• 13:51
  Speaker 1: in terminal stages of decline. Basically, it's collapsing before a
• 13:56
  Speaker 1: very eyes. You know, it wasn't bad enough. The real
• 13:59
  Speaker 1: estate market collapsed they're having these massive floods. I don't
• 14:05
  Speaker 1: know if you watched them or not, ro but they're biblical.
• 14:08
  Speaker 1: I mean streets that were like you know, main streets
• 14:12
  Speaker 1: and cities are now mile wide rivers and like hundreds
• 14:16
  Speaker 1: of cars are like washed away, like they're corks floating in.
• 14:20
  Speaker 4: A bowl of water. It's the most amazing thing.
• 14:25
  Speaker 3: And then you know, the system Communist Party is collapsing.
• 14:29
  Speaker 3: There's a massive loss of faith in the system and
• 14:34
  Speaker 3: people are just giving up.
• 14:35
  Speaker 1: So what's your take? Where does it all end? China
• 14:39
  Speaker 1: isn't a bit of chaos. You had speculation whether Z
• 14:42
  Speaker 1: is healthy enough to lead that party. The direction there
• 14:46
  Speaker 1: would be that Z would be almost like a pseudo emperor.
• 14:49
  Speaker 1: He would just kind of exist as long as they
• 14:50
  Speaker 1: needed to have the faith of the political elites. But
• 14:55
  Speaker 1: whether he's healthy, there seems to be maybe a political
• 14:58
  Speaker 1: regime change coming.
• 14:59
  Speaker 4: Which you know, there is some.
• 15:02
  Speaker 1: Unanimity in terms of the CCP's approach to government, but
• 15:06
  Speaker 1: still having a big change like that would be big.
• 15:08
  Speaker 1: Then from a fiscal perspective, yet Evergrand and Senation, all
• 15:13
  Speaker 1: these real estate companies start to blow up. How do
• 15:15
  Speaker 1: you I'd sure, yeah, one of the things that people
• 15:18
  Speaker 1: didn't know was something I grapped out in like twenty
• 15:20
  Speaker 1: twelve thirteen when back when I was writing, is the
• 15:24
  Speaker 1: Chinese government's printed more currency than the US government has
• 15:27
  Speaker 1: relative to where they were in the last twelve years.
• 15:30
  Speaker 4: We're pikers compared to them. Right.
• 15:33
  Speaker 1: They printed a bunch of money, pumped up their markets,
• 15:35
  Speaker 1: and now you're getting that market collapse because the difference
• 15:37
  Speaker 1: in China and the US is China's not the world
• 15:40
  Speaker 1: reserve currency, so when they pumped up their money, it
• 15:42
  Speaker 1: came back home to reuce quicker. So they haveing major
• 15:45
  Speaker 1: inflationary issues or stock markets are having issues. There's a
• 15:48
  Speaker 1: little bit of a crisis right now on the political front.
• 15:50
  Speaker 1: They're having the environmental issues and they've got a lot
• 15:53
  Speaker 1: on their plates to deal with.
• 15:55
  Speaker 4: Yeah.
• 15:56
  Speaker 3: So and at the US dock market keeps going up,
• 15:59
  Speaker 3: go figure soh you know, yeah, and to fluctuate. Well,
• 16:02
  Speaker 3: I see here, you know, helping our debt crisis. But
• 16:06
  Speaker 3: bad for the rest of the world is because there's
• 16:09
  Speaker 3: so much turmoil happening elsewhere on the planet, especially in China.
• 16:15
  Speaker 3: All the funds because you can't put everything into gold,
• 16:17
  Speaker 3: you can't put everything into bitcoin, especially if you're an
• 16:21
  Speaker 3: institution in China. So they've come up with an number
• 16:26
  Speaker 3: of ingenious money wandering schemes to get money.
• 16:29
  Speaker 4: Out of China into the US.
• 16:32
  Speaker 3: Because nobody is putting money in Deutsche Bank in Germany
• 16:36
  Speaker 3: over the weekend. You know, the system might be precarious
• 16:40
  Speaker 3: in the United States. But still, if you've got to
• 16:44
  Speaker 3: put five billion dollars park it for a week, you're
• 16:47
  Speaker 3: going to do it.
• 16:48
  Speaker 4: In the US.
• 16:48
  Speaker 3: You're not doing it, or you're going to buy treasuries
• 16:50
  Speaker 3: right as worthless as treasuries are, they're worth.
• 16:54
  Speaker 1: Something right now, right Yeah, I think the dollar being
• 16:57
  Speaker 1: the world is our currencies. We're in a melt up stage,
• 16:59
  Speaker 1: serious melt up of the stock markets. You're going to
• 17:01
  Speaker 1: see a milt up of the dollar valuation a relative
• 17:04
  Speaker 1: to other currency. Is like looking at the DX Why
• 17:06
  Speaker 1: not that the dollars buying more from an inflation perspective,
• 17:08
  Speaker 1: from the consumer's perspective, But the value in that index
• 17:11
  Speaker 1: of a basket of currencies is going to stay high.
• 17:13
  Speaker 1: Why Because it's a reserve currency. So we're as you say,
• 17:17
  Speaker 1: you know, the best looking morse in the glue factory.
• 17:19
  Speaker 1: You know, people, it's the milkshake theory. People are going
• 17:21
  Speaker 1: to invest in US treasuries and dollars until it doesn't
• 17:24
  Speaker 1: make sus to do anymore, and then that money is
• 17:26
  Speaker 1: going to flow. But the tide's going to go out
• 17:28
  Speaker 1: on the US and it's all going to flood to
• 17:30
  Speaker 1: the merging markets. But the merging markets, necessarily in the system,
• 17:32
  Speaker 1: have to blow up first. Why the US just explorted
• 17:35
  Speaker 1: all of its inflation, all the doll alt the dollars
• 17:38
  Speaker 1: are printed when overseas in to these euro dollar accounts,
• 17:40
  Speaker 1: and your dollar just means any dollar held anywhere overseas.
• 17:43
  Speaker 4: It started in Europe, it's all over.
• 17:45
  Speaker 1: And those dollars are now starting to flood back a
• 17:47
  Speaker 1: little bit as these other countries sell off their assets
• 17:50
  Speaker 1: to deal with all that dollar inflation. That money comes
• 17:53
  Speaker 1: back and then it blows up the US system, and
• 17:54
  Speaker 1: then the tide comes back out and it goes So
• 17:56
  Speaker 1: you're going to see stages to this. And you know,
• 18:00
  Speaker 1: there was a good book I read a long time ago,
• 18:02
  Speaker 1: written by a currency and list called the Dollar Crisis,
• 18:05
  Speaker 1: and he explained how this happened in Japan and the
• 18:07
  Speaker 1: US in the eighties and nineties. And now it's going
• 18:09
  Speaker 1: to happen more on a worldwide basis. You know, when
• 18:11
  Speaker 1: you're printing a bunch of currency, it affects other nations
• 18:14
  Speaker 1: and their situation affects you, and sort of it this
• 18:17
  Speaker 1: back and forth until the system kind of you know,
• 18:20
  Speaker 1: dies out on its own. And it all has to
• 18:22
  Speaker 1: do with the monetary flows. So I do think that
• 18:24
  Speaker 1: it's going to temporarily prop up the US system, but
• 18:27
  Speaker 1: then eventually US system is going to come under pressure
• 18:28
  Speaker 1: because when all these other countries crash, you know, they
• 18:32
  Speaker 1: have their crashes, eventually the US has to crash. They're
• 18:36
  Speaker 1: all interconnected through the global banking and through currencies, they
• 18:39
  Speaker 1: all hold each other's assets. There's no safe place to go.
• 18:42
  Speaker 1: There's no Christopher Columbus going to the New World at
• 18:45
  Speaker 1: this point. We're all in the same boat and it's
• 18:47
  Speaker 1: going to affect all of us. But I do think
• 18:48
  Speaker 1: the dollar would be the last one to fall, and
• 18:51
  Speaker 1: I think this is setting us up for the central
• 18:52
  Speaker 1: bank digital currency era probably starts in a few years
• 18:56
  Speaker 1: where all of these FIA currencies and current systems come
• 18:59
  Speaker 1: under pressure, and then the CBDCs are going to be
• 19:02
  Speaker 1: rolled out as.
• 19:02
  Speaker 3: The potential solution by the central banks. Yeah, the solution
• 19:05
  Speaker 3: for all that ails the international monetary system. We like
• 19:09
  Speaker 3: to say it's the best looking house in Baltimore.
• 19:12
  Speaker 4: Yeah, the dollar.
• 19:14
  Speaker 3: But what's the intrinsic value of all fat currencies? Zero? Right,
• 19:19
  Speaker 3: and eventually they all return to their intrinsic value. This
• 19:23
  Speaker 3: will be no different than any other. And Rob, it's
• 19:27
  Speaker 3: great to have you on. How do we find you
• 19:28
  Speaker 3: on the web? Where do we look for you?
• 19:30
  Speaker 1: So we previously were Goldsilver Pros. We've renamed our channel
• 19:33
  Speaker 1: to the Freedom Report because we're expanding coverage beyond precious metals.
• 19:37
  Speaker 1: So we'll be talking about a lot of things, and
• 19:38
  Speaker 1: we're talking about all the currency markets, the bitcoin, we'll
• 19:41
  Speaker 1: be talking about macro, We'll be talking about some of
• 19:43
  Speaker 1: the cultural things that occur. It's interesting that when you
• 19:46
  Speaker 1: look at changes in economic systems, with that comes changes
• 19:49
  Speaker 1: in politics and culture.
• 19:50
  Speaker 4: So we'll be examining that.
• 19:51
  Speaker 1: So you can just look up the Freedom Report on
• 19:53
  Speaker 1: Twitter and YouTube and you know we're there where where
• 19:56
  Speaker 1: we've always been. Or look up gold Silver Pros if
• 19:58
  Speaker 1: you want and you can find us serious.
• 20:00
  Speaker 4: Well excellent.
• 20:01
  Speaker 3: Hey, well maybe i'll catch you at the next bitcoin conference.
• 20:04
  Speaker 3: I hope to be there couldn't this time. And if
• 20:07
  Speaker 3: you've got a question for Rob myself, shoot me an
• 20:10
  Speaker 3: email KL at Carrie Lutz dot com. We'll get you
• 20:14
  Speaker 3: an answer. While you're at the site. Financial Survival Network
• 20:17
  Speaker 3: dot com. Please sign up for your free newsletter Rob
• 20:20
  Speaker 3: Always a pleasure.
• 20:21
  Speaker 4: Thanks for stopping by, Always a pleasure.
• 20:23
  Speaker 2: Come on carry, Thanks, thanks for listening to Carrie Lutz's
• 20:26
  Speaker 2: Financial Survival Network, your solution to today's trying times. For
• 20:31
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• 20:36
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• 20:37
  Speaker 4: Now more than ever,