Latest / Financial Survival Network / Silver, Stagflation & The Fed Flush – Roundtable w/ Darryl Schoon & David Morgan #6332

Transcript

Silver, Stagflation & The Fed Flush – Roundtable w/ Darryl Schoon & David Morgan #6332 · Financial Survival Network

• 0:00
  Speaker 1: You're listening to Carrie Lutz's Financial Survival Network, where you
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• 0:27
  Speaker 2: And welcome.
• 0:28
  Speaker 3: This is the Financial Survival Network. I'm your host, Carrie Lutz,
• 0:33
  Speaker 3: and got a special treat for you, little roundtable. We
• 0:36
  Speaker 3: haven't done one in quite a while, but I'm really
• 0:39
  Speaker 3: thrilled to have our good friends David Morgan, he's the
• 0:43
  Speaker 3: silver Guru the Morgan Report dot com. And Daryl Shoon,
• 0:48
  Speaker 3: amazing writer and not writing that much these days, but
• 0:52
  Speaker 3: you find his work at Drshoon dot com.
• 0:55
  Speaker 2: The links are in the show notes.
• 0:57
  Speaker 3: And Daryl, when I had you on last time, you
• 1:00
  Speaker 3: made a statement that raised the ire of the Miami
• 1:05
  Speaker 3: Plumbers Union, if you could believe it, you said that
• 1:09
  Speaker 3: pretty much the economy was a toilet, and you know,
• 1:14
  Speaker 3: pretty much the plumbing was shot. And you know that
• 1:17
  Speaker 3: You've been using that analogy for a long time. It's
• 1:20
  Speaker 3: always stuck with me. But here's what they said. They said,
• 1:24
  Speaker 3: we fix our mess. We don't blame the electrician. And
• 1:27
  Speaker 3: once we flush, it's gone. The FED you never know
• 1:30
  Speaker 3: where their waste product is going to wind up, except
• 1:33
  Speaker 3: it always finds a home on the Fed's balance sheet.
• 1:38
  Speaker 2: So who so be nice to plumbers? You need to.
• 1:41
  Speaker 4: Yeah, you know what it is. It reinforces the truism
• 1:46
  Speaker 4: that I've learned ever since, you know, being a public
• 1:49
  Speaker 4: talk speaker, is that people are listening that you don't know,
• 1:53
  Speaker 4: are there.
• 1:54
  Speaker 2: Hey, so David, maybe it's not a plumbing does, but
• 2:01
  Speaker 2: the economy is certainly a dumpster fire, right, Yeah, it is.
• 2:05
  Speaker 5: Before we start, Kerry and everybody, I just want to
• 2:08
  Speaker 5: let you know I'm doing this for my phone. I
• 2:10
  Speaker 5: have absolutely zero internet today, so I'm not usual office.
• 2:14
  Speaker 5: I'm doing the best I can and I'm fine personally,
• 2:17
  Speaker 5: but you know, your life just revolves around these electrons,
• 2:22
  Speaker 5: and you know when you lose them, it's it can
• 2:25
  Speaker 5: be a hardship.
• 2:26
  Speaker 2: So anyway, I'll do the best I can.
• 2:27
  Speaker 5: Yeah. I've said for a long time that the condoms
• 2:30
  Speaker 5: into contraction, and I'm not down leveraging out of the
• 2:35
  Speaker 5: possibility of a contraction that goes into depression. I mean
• 2:42
  Speaker 5: everyone's looking for more and more.
• 2:44
  Speaker 2: Inflation low and interest rates. Inflation is accelerating, commodity presses
• 2:47
  Speaker 2: is going up. All those are facts. I never argue facts.
• 2:51
  Speaker 5: But if you can't pay your grocery bill and you
• 2:55
  Speaker 5: can't make the car payment, you know we're getting more
• 2:58
  Speaker 5: and more of a move toward the depression. The economists
• 3:02
  Speaker 5: have to make up the words stagflation for it. There
• 3:05
  Speaker 5: wasn't such a thing as having ongoing inflation and freezing
• 3:09
  Speaker 5: wages or we're just going down, and that's basically what
• 3:12
  Speaker 5: we have. So I think we've got a mess. I
• 3:15
  Speaker 5: do think we're pushing toward a two tier society. It's
• 3:19
  Speaker 5: the rich and everybody else. The middle class is getting
• 3:22
  Speaker 5: wiped out. I know, in a very strong market, I
• 3:25
  Speaker 5: usually don't have to do any advertising. I get new subscribers.
• 3:28
  Speaker 5: I am still losing more than I'm gaming. I'm not complaining,
• 3:31
  Speaker 5: but that's a big wow. When I tell people that,
• 3:34
  Speaker 5: they can't believe it, and it's true. So I think
• 3:37
  Speaker 5: the people are just fed up. And I think some
• 3:40
  Speaker 5: of the long termolers are seeing forty four dollars silver
• 3:43
  Speaker 5: and saying, what the heck it might go to fifty
• 3:45
  Speaker 5: MinC go to one hundred, but my credit card bills
• 3:47
  Speaker 5: an eighteen percent, hunting the cash out and pay it
• 3:49
  Speaker 5: down or whatever.
• 3:51
  Speaker 2: So back to you, Kerry, Yeah, so that's very true.
• 3:55
  Speaker 2: You see that.
• 3:56
  Speaker 3: And I don't know if it's by accident or design,
• 3:59
  Speaker 3: but they're all plumbing and electrical and dumpster analogies aside.
• 4:05
  Speaker 2: What the heck is really going on from your viewpoint
• 4:08
  Speaker 2: with the economy? Well, you know, I.
• 4:11
  Speaker 4: Want to tag along with what David brought up about
• 4:14
  Speaker 4: the calling this a stagflation. One thing that people don't know,
• 4:18
  Speaker 4: which I ran across it was rather study is the
• 4:20
  Speaker 4: word recession only appeared after the Great Depression because every
• 4:26
  Speaker 4: contraction before the Great Depression was called a depression. There
• 4:30
  Speaker 4: was an expansion and a depression, it was like that.
• 4:33
  Speaker 4: But after the Great Depression there was a buggerboo word,
• 4:37
  Speaker 4: all right, and deflation was the bugge boo word. So
• 4:40
  Speaker 4: they came up with this word recession, all right. The
• 4:43
  Speaker 4: FED basically is the cheerleader for the bankers, all right.
• 4:46
  Speaker 4: That's why they're always trying to say it's optimistic. They're
• 4:50
  Speaker 4: always trying to say, we're going to grow our way
• 4:52
  Speaker 4: out of this, you know, my theory about economists and
• 4:56
  Speaker 4: the prognista. You know, what they say is that they're
• 5:00
  Speaker 4: only interviewing the economists who still have a job, all right.
• 5:04
  Speaker 4: If they interviewed an economists who who got laid off
• 5:08
  Speaker 4: last week, they've got a totally different picture. And I
• 5:11
  Speaker 4: think what David is has brought to the table. He
• 5:14
  Speaker 4: is what Ray Dalyo talked about this morning. And Dallio
• 5:17
  Speaker 4: is one of the big money boys, okay, And what
• 5:20
  Speaker 4: you know, one of the things I wanted to bring
• 5:23
  Speaker 4: up is that all three of us have we're we've
• 5:26
  Speaker 4: been on the margins. Okay, We've been on the margins
• 5:29
  Speaker 4: since the very beginning because we saw the problems with money,
• 5:32
  Speaker 4: we saw the macroeconomic problems, and we've been on the margins.
• 5:36
  Speaker 4: And now I think all of us will agree that
• 5:39
  Speaker 4: what we talked about and what we're seeing twenty years
• 5:42
  Speaker 4: ago is in.
• 5:43
  Speaker 2: The headline step for sure. So you know, it's been
• 5:46
  Speaker 2: a good snight, Yeah, David.
• 5:48
  Speaker 3: They say, you know, the difference between a depression and
• 5:51
  Speaker 3: a recession, recessions when you're out of work, a depressions
• 5:56
  Speaker 3: when I'm out of work, or the definition of minor
• 5:59
  Speaker 3: versus majorsy. Minor surgery is surgery that you have. Major
• 6:03
  Speaker 3: surgery is surgery that I have. But the pain is
• 6:07
  Speaker 3: real here. You know this isn't We're not imagining this.
• 6:11
  Speaker 3: And I think the gas lighting that the whole system,
• 6:19
  Speaker 3: it seems to be their biggest product, is gas lighting.
• 6:23
  Speaker 3: It's wearing thin now people are getting attuned to it.
• 6:28
  Speaker 3: Maybe being broke kind of wakes you up to reality.
• 6:32
  Speaker 3: But don't you think that people are really becoming aware
• 6:35
  Speaker 3: of the illusion and no longer buying into it.
• 6:39
  Speaker 2: I definitely agree with to carry.
• 6:40
  Speaker 5: First of all, the Internet has become censored, as we
• 6:44
  Speaker 5: all know, but before it was censored, it was free
• 6:47
  Speaker 5: speech mostly at least. But nonetheless, I think this fake
• 6:51
  Speaker 5: news and that meme carried, and I think a lot
• 6:54
  Speaker 5: of people just are giving up. I mean, I was
• 6:56
  Speaker 5: taught early on not to believe everything you read, not
• 7:00
  Speaker 5: to believe everything you hear or even what you see.
• 7:02
  Speaker 5: I mean, go to a magic show sometime. You know
• 7:05
  Speaker 5: that rabbit you know, didn't come out of the hapen
• 7:07
  Speaker 5: sure looked like it did. So, uh, I think cynical really,
• 7:13
  Speaker 5: if I can use that word, because it's like, uh,
• 7:16
  Speaker 5: you know, we're doing fine. I mean, look at what
• 7:18
  Speaker 5: Powell says all the time. You know the fedhead and
• 7:22
  Speaker 5: you know well the data of this, and it's just ridiculous.
• 7:24
  Speaker 5: As Darryl said, it's a cheerleading organization that's there to
• 7:28
  Speaker 5: protect the banks. They're not there to provide MONITORI stability,
• 7:32
  Speaker 5: and they really aren't as powerful as they act. It's
• 7:34
  Speaker 5: kind of a wizard of oziton areo because they do
• 7:36
  Speaker 5: set the discount window, they do set the federal funds rate,
• 7:41
  Speaker 5: but the market has some point could say, you know what,
• 7:44
  Speaker 5: I don't believe it. These dollars have come worthless or worthless,
• 7:48
  Speaker 5: worthless and going toward worthless, and the interest rates go
• 7:52
  Speaker 5: up even though they lower them. And that has taken place,
• 7:55
  Speaker 5: and it may take place again. So I'm on your side.
• 7:58
  Speaker 5: I think everybody keep what you're doing. They've got to
• 8:01
  Speaker 5: be educated or re educated or get a little bit of,
• 8:05
  Speaker 5: let's say, ability to separate the whek from the chaff.
• 8:08
  Speaker 5: Because as I think, I'm in the Obama administration and
• 8:12
  Speaker 5: I don't like any of them. So you know that
• 8:14
  Speaker 5: I'm not side either part. I dislike them all equally.
• 8:18
  Speaker 5: I'm very equal in that matter. Regardless I forget the
• 8:22
  Speaker 5: name of the bill. Daryl probably does know. But it's
• 8:25
  Speaker 5: when you can put propaganda out to the American people.
• 8:28
  Speaker 5: We very lied to us constantly, and I think I
• 8:31
  Speaker 5: think we're at to pass the tipic point carry. I
• 8:33
  Speaker 5: think the majority of Americans know that now. Not maybe
• 8:38
  Speaker 5: it's the details, but they know they're being lied to
• 8:40
  Speaker 5: more than we told the truth.
• 8:42
  Speaker 3: Yeah, and there's no limit to the lies, you know, Daryl,
• 8:46
  Speaker 3: I heard that Jerome Powell was starting a line of perfumes.
• 8:51
  Speaker 3: It's going to be called ode to fed Flush, you know.
• 8:55
  Speaker 4: The I made a remark an observation that Alan Greens
• 9:00
  Speaker 4: was a lot more honest after he left his job
• 9:02
  Speaker 4: at the Fit, all right. And we all knew that
• 9:05
  Speaker 4: Alan was a lot more honest before he got his job,
• 9:08
  Speaker 4: all right. And the reason why Alan got his job
• 9:11
  Speaker 4: is people don't realize is that Reagan wanted to finance
• 9:16
  Speaker 4: to let the dogs run loose, and they were really
• 9:19
  Speaker 4: unhappy with the guy in there before, all right, because
• 9:23
  Speaker 4: he kept it too tight. And so when in nineteen
• 9:26
  Speaker 4: eighty one, when the stock market was at seven seven
• 9:29
  Speaker 4: seven seven seven seventh, the dow, I mean seven seven,
• 9:34
  Speaker 4: that's that's like talking to eight. You can't even conceive
• 9:38
  Speaker 4: of the Dow being that low, but it was. And
• 9:40
  Speaker 4: now when it is at thirty four to thirty five thirts,
• 9:42
  Speaker 4: I don't even care, all right, but it's multiples. It
• 9:45
  Speaker 4: worked and and and you know, one of my sayings
• 9:48
  Speaker 4: has always been, the power is no more control than
• 9:54
  Speaker 4: credit is money and learning the difference between the two
• 10:00
  Speaker 4: is not easy. And we're about to The FED is
• 10:04
  Speaker 4: very powerful, but they're not in control. They're not in
• 10:08
  Speaker 4: control as as David pointed out, they don't they set
• 10:11
  Speaker 4: the FED fund rate. But the market is gonna do
• 10:14
  Speaker 4: what the market does. And the market always goes with
• 10:18
  Speaker 4: the upside generally because it wants to expand people want
• 10:22
  Speaker 4: to make money. The reason why delusions and bubbles last
• 10:26
  Speaker 4: so long is that you're gonna stay in there. Most
• 10:29
  Speaker 4: people have no way of making money other than the bubble.
• 10:32
  Speaker 4: That's their bet of lasting up. That's their powerball ticket
• 10:35
  Speaker 4: for the majority of Americans. And it has been all right,
• 10:39
  Speaker 4: And I understand why they're going and buying that ticket.
• 10:42
  Speaker 4: Every goddamn leaked, all right, But what my belief is,
• 10:47
  Speaker 4: it's gonna turn against them. It's gonna turn against them.
• 10:50
  Speaker 5: It's been.
• 10:50
  Speaker 4: It's a shadow gain great shadow, you know, I mean,
• 10:58
  Speaker 4: excuse me, understood the shadow in the cave and it's
• 11:03
  Speaker 4: it's about the light is about to come in, and
• 11:05
  Speaker 4: it's it's gonna be blinded and it's gonna it's gonna
• 11:08
  Speaker 4: just Ant calfect. I was lucky enough to know Ant Colin.
• 11:12
  Speaker 4: He said once, he said, you know, the day that
• 11:15
  Speaker 4: silver and gold go through the roof is going to
• 11:18
  Speaker 4: be the saddest day.
• 11:19
  Speaker 2: In your life. I remember that quote.
• 11:21
  Speaker 4: Yep, because it's gonna collapse all around you.
• 11:24
  Speaker 2: Yeah, absolutely so, David, what do you do?
• 11:29
  Speaker 6: Like?
• 11:29
  Speaker 2: You know, you're Joe six pack.
• 11:31
  Speaker 3: Basically your job's been shipped off too far away. You've
• 11:36
  Speaker 3: been living off government large ass, but you got a
• 11:39
  Speaker 3: little bit saved up.
• 11:40
  Speaker 2: Uh you buy some silver? Do you? Uh? Do you
• 11:44
  Speaker 2: go flip houses? What are you supposed to do?
• 11:47
  Speaker 4: Well?
• 11:48
  Speaker 2: Yeah, it's tough one carry as you know, buddy, your
• 11:50
  Speaker 2: outline some good ones.
• 11:52
  Speaker 5: I mean, you know, I kind of teaches for people
• 11:54
  Speaker 5: to live within their means. You know, don't use credit
• 11:57
  Speaker 5: unless it's absolutely necessary. You got to buy borrow money.
• 12:01
  Speaker 5: You gotta do it prudently, which means maybe a mortgage,
• 12:04
  Speaker 5: which could be prudent, but you know, everything is helter skelter,
• 12:08
  Speaker 5: and it gets more and more dislocated as.
• 12:11
  Speaker 2: Time goes on.
• 12:12
  Speaker 5: As Daryl's pointed out, I mean you get you know,
• 12:15
  Speaker 5: I mean my dad's house, we're a was a five
• 12:18
  Speaker 5: year old kid was like, you know, forty five thousand
• 12:21
  Speaker 5: or something, and now they're four fifty. The house hasn't changed.
• 12:26
  Speaker 5: What's changed the money supply. So I think, try to
• 12:29
  Speaker 5: live within your means and don't make money your God,
• 12:32
  Speaker 5: I wrote an article about that, you know, on a
• 12:35
  Speaker 5: train that that's the only thing to go after. You
• 12:38
  Speaker 5: got to believe in humanity. There's people like you and
• 12:40
  Speaker 5: I like Daryl that are out here with good hearts,
• 12:43
  Speaker 5: good heads, trying to help. You know, we don't make
• 12:46
  Speaker 5: a lot of money doing this. I mean it's because
• 12:49
  Speaker 5: it's a passion and I trust my fellow man, and
• 12:52
  Speaker 5: I believe in the biggest paradox of all, and that
• 12:55
  Speaker 5: is or for me of all, and that is that
• 12:57
  Speaker 5: I could be self serving and serve others at the
• 12:59
  Speaker 5: same time.
• 13:00
  Speaker 2: Because basically when.
• 13:01
  Speaker 5: I started the report is how I invest in this
• 13:05
  Speaker 5: resource sector and how I allocate my funds. And I'm
• 13:09
  Speaker 5: teaching what I do, and in a way that's self serving,
• 13:12
  Speaker 5: but it helped a lot of people. I just got
• 13:14
  Speaker 5: a consulting call yesterday. Guy's been with me since January.
• 13:17
  Speaker 5: He's up ninety seven percent of his portfolio. He's watching
• 13:20
  Speaker 5: his silver skyrocket and he couldn't be happier, you know.
• 13:23
  Speaker 5: So you get those kind of calls and kind of
• 13:25
  Speaker 5: it's worth kind of the pain and agony that we
• 13:27
  Speaker 5: go through from some of the let's say, mocking bird
• 13:31
  Speaker 5: press that are always putting this down.
• 13:33
  Speaker 3: Yeah, so so what do you think, Daryl? Like you,
• 13:36
  Speaker 3: you always say God guns in gold, right.
• 13:40
  Speaker 4: That's Carrie. My tagline on every article I've written has
• 13:45
  Speaker 4: been by gold, by silver, half faith. And in my
• 13:48
  Speaker 4: book I said, this is ninety two thousand and seven,
• 13:51
  Speaker 4: I said, and it would it would be It would
• 13:53
  Speaker 4: be hoove you to get your faith now while it's
• 13:55
  Speaker 4: getting still good, all right, But the truth of us,
• 13:58
  Speaker 4: most of us get our faith when the gun's on us.
• 14:01
  Speaker 4: Prayer has always been the most sincere when you're on
• 14:05
  Speaker 4: your knees, okay, I mean, when you're driving your best
• 14:09
  Speaker 4: friend to his cancer IV treatment, you're praying for him.
• 14:14
  Speaker 4: But when you're being driven you're really praying harder, all right,
• 14:18
  Speaker 4: And I think we're coming to that time, you know.
• 14:22
  Speaker 4: I mean, I remember George Washington's blog in two thousand
• 14:25
  Speaker 4: and nine did an analysis of the people out there
• 14:28
  Speaker 4: talking about what's going on, and me and Gerald Celente,
• 14:31
  Speaker 4: he said, were the worst. He said, these guys, they
• 14:35
  Speaker 4: they're just looking at the bottom. All right. But I've
• 14:38
  Speaker 4: always been really optimistic in a way, because I believe
• 14:41
  Speaker 4: the crash is necessary to clear the ground for what's
• 14:45
  Speaker 4: gonna happen next, all right, And I believe in next.
• 14:48
  Speaker 4: And like David, it's really interesting you brought that up, David.
• 14:52
  Speaker 4: I just came back from a trip. I don't get
• 14:53
  Speaker 4: out of my hole very often, I really don't, all right.
• 14:56
  Speaker 4: And there were three things that I encountered on that
• 15:00
  Speaker 4: that made me gave faith. And it had nothing to
• 15:02
  Speaker 4: do with politics, and it had nothing to do with money.
• 15:04
  Speaker 4: It had to do with the people I met on
• 15:06
  Speaker 4: the on the road coming back. The turbulence over Denver
• 15:09
  Speaker 4: was really intense. And the stewardess she's sitting next to me,
• 15:13
  Speaker 4: I know she never met anyone to hear this, and
• 15:16
  Speaker 4: she's said she's nailing next to me. It's going like this,
• 15:19
  Speaker 4: she's holding on and she said, I love my job.
• 15:23
  Speaker 6: At I started, I thought, girl, girl, I mean he's
• 15:28
  Speaker 6: not strapped in and she said, I love my job.
• 15:31
  Speaker 4: And I'm there's a resilience to us that we that
• 15:35
  Speaker 4: comes out during that time. All right.
• 15:37
  Speaker 6: And on the way in waiting in line, you know,
• 15:39
  Speaker 6: you're dumb, you're tired, you're waiting to go in. And
• 15:42
  Speaker 6: we're in group four because I was traveling with a
• 15:45
  Speaker 6: whole bunch of us, you know, they you know, we
• 15:47
  Speaker 6: bookkeep and we're in group four and.
• 15:49
  Speaker 4: Five, five and six. That means you go on without underwear, right,
• 15:53
  Speaker 4: so we're at the bottom.
• 15:54
  Speaker 2: You're sand. You got the standing seats.
• 15:57
  Speaker 4: Yeah, they got the standing seats. And I'm staying like hired.
• 16:00
  Speaker 4: This my you know, this back and forth and this
• 16:03
  Speaker 4: I hear this voice.
• 16:04
  Speaker 2: It was great.
• 16:05
  Speaker 4: Guy goes he said, you know, he said, I mean
• 16:08
  Speaker 4: I were in group four. He said, I always wanted
• 16:11
  Speaker 4: to be a four. That was always my dream. But
• 16:14
  Speaker 4: I'm a six and I don't think I'm ever going
• 16:17
  Speaker 4: to be a four. And I just started laughing that
• 16:21
  Speaker 4: maybe that was that that was a lie for stand
• 16:24
  Speaker 4: up comedy.
• 16:25
  Speaker 5: You know.
• 16:25
  Speaker 4: And there we were in that thing doing that all right, now,
• 16:29
  Speaker 4: before we got an airbnb and and it was it
• 16:32
  Speaker 4: was beautiful. I mean the house, it was better than
• 16:34
  Speaker 4: our house, all right. It was finished. The person had
• 16:37
  Speaker 4: it had tastes and stuff like that, and it was
• 16:40
  Speaker 4: And but loses the landlady. There were three cats who
• 16:44
  Speaker 4: were hanging out on the driveway, you know, between it,
• 16:47
  Speaker 4: and she said she has she was allergic to cats. Okay,
• 16:51
  Speaker 4: but she fed these cats, had him neutered in spade
• 16:56
  Speaker 4: and in the winner. Each one had the little house
• 16:59
  Speaker 4: with warmth. Okay. And I tell you I know what
• 17:03
  Speaker 4: we're going to do. I mean, Carrie, when I was
• 17:07
  Speaker 4: at your conference in twenty fourteen and I gave my talk,
• 17:10
  Speaker 4: some guy came up behind me, Carrie, and he said this,
• 17:14
  Speaker 4: I'm missing the next speaker. And he said, you know
• 17:17
  Speaker 4: things you're not telling this. And I want to know
• 17:20
  Speaker 4: why that was spooking.
• 17:24
  Speaker 5: But he was right.
• 17:25
  Speaker 4: I have a catastrophe thing that's very intense, you know.
• 17:31
  Speaker 3: I mean, it's I think we're headed towards war, all right,
• 17:34
  Speaker 3: That's what Armstrong says.
• 17:36
  Speaker 4: Yeah, and my feet is different dead. There was a
• 17:40
  Speaker 4: psychic named AliOS Errol Meyer in Germany in the late
• 17:44
  Speaker 4: nineteen fifties, late nineteen forties and fifties, and he said,
• 17:48
  Speaker 4: he said, there's gonna be world He said, there's gonna
• 17:51
  Speaker 4: be unrest in the Middle East. And then during the
• 17:56
  Speaker 4: peace conference, a peace conference, all of a sudden, Russia
• 18:00
  Speaker 4: is gonna.
• 18:01
  Speaker 5: Make its move.
• 18:02
  Speaker 4: He said, there's gonna be an assassination and suddenly, without
• 18:07
  Speaker 4: anybody expecting it, there's gonna be troops going from Kiev
• 18:12
  Speaker 4: up to the north. It's gonna be too prong and
• 18:15
  Speaker 4: then it'll be basically his vision of it was powder
• 18:19
  Speaker 4: drop from the skies and I think it's gonna, you know,
• 18:21
  Speaker 4: come up to stop these things in their tracks. And
• 18:25
  Speaker 4: this is what he said. And he said, after it,
• 18:28
  Speaker 4: there'll be peace, but it's gonna be fast and quick
• 18:31
  Speaker 4: and devastated.
• 18:33
  Speaker 2: That's unbelievable.
• 18:34
  Speaker 3: Well, you know, we always hope for the best here,
• 18:38
  Speaker 3: but you got to prepare for the worst.
• 18:40
  Speaker 2: And you know, like.
• 18:44
  Speaker 3: If you have no money, it's very difficult. It's hard
• 18:47
  Speaker 3: to just invest in yourself now, but investing in yourself
• 18:51
  Speaker 3: is always the best.
• 18:53
  Speaker 2: He's got it, payoff, got it.
• 18:55
  Speaker 5: Carry.
• 18:57
  Speaker 4: I think we're down, we're down to truth time.
• 19:00
  Speaker 2: You know, we all cruise.
• 19:01
  Speaker 4: You know, all of us have cruised on this overflow
• 19:05
  Speaker 4: of credit, you know, in the last fifty years. Okay,
• 19:08
  Speaker 4: then has gone on since the late eighties, and we've
• 19:11
  Speaker 4: enjoyed it. And what they've done is that they've they've
• 19:14
  Speaker 4: they've delayed the reckoning. Uncle, my uncle said he went
• 19:19
  Speaker 4: through the depression. He says, you know, back then people
• 19:21
  Speaker 4: owed five hundred dollars, today they owe fifty thousand.
• 19:26
  Speaker 2: That was it. That was his.
• 19:28
  Speaker 4: Yes, do say, we're here with the reckoning, but it's
• 19:31
  Speaker 4: yourself you gave us the key.
• 19:34
  Speaker 2: Yeah, it's so true.
• 19:36
  Speaker 3: And you know it's funny that guy asked you at
• 19:41
  Speaker 3: our conference, what are you telling us?
• 19:44
  Speaker 2: The best question?
• 19:45
  Speaker 3: And I urge everyone out there who's listening, no matter
• 19:48
  Speaker 3: what AI you were using, ask it directly. What don't
• 19:54
  Speaker 3: they want me to want you to tell me? Because
• 19:57
  Speaker 3: it will be an eye opener because the AI knows everything.
• 20:02
  Speaker 3: But it's not just going to give you the keys
• 20:06
  Speaker 3: to the mansion. You specifically have to ask, and you
• 20:10
  Speaker 3: will find a side of the AI when you asked
• 20:13
  Speaker 3: that question that you will be amazed at their responses.
• 20:17
  Speaker 3: I think we lost David. He was having internet issues
• 20:20
  Speaker 3: all day and was using his phone. So one final
• 20:26
  Speaker 3: piece of advice here, Darryl, for everyone out there. Do
• 20:31
  Speaker 3: you buy minors, do you buy physical, do you sell?
• 20:36
  Speaker 2: What do you do?
• 20:37
  Speaker 4: I think it's truth time, and I think the currency crisis,
• 20:41
  Speaker 4: which I said I said when I wrote my book
• 20:44
  Speaker 4: Time of the Vulture, I basically said that we're heading
• 20:47
  Speaker 4: into another repeat of a great depression with one additional
• 20:52
  Speaker 4: element to it, and that's the currency collapse. The Fiat
• 20:56
  Speaker 4: currency is going to go down. And so I would
• 21:00
  Speaker 4: say hard currency, I mean hard mental silver possession. But Carrie,
• 21:07
  Speaker 4: even then, even then, I think your advice was the best.
• 21:12
  Speaker 4: Your advice is to look to yourself.
• 21:14
  Speaker 7: I mean, I believe in a higher power, Okay, I
• 21:17
  Speaker 7: believe in my life is learned force me through my
• 21:20
  Speaker 7: own personal twelve step without any ostensible excuse or an
• 21:24
  Speaker 7: addiction to go there.
• 21:26
  Speaker 4: Right, But I've had to go, you know, and I've
• 21:29
  Speaker 4: learned about that. And and you know, my advice in
• 21:35
  Speaker 4: the gut, in the gut end thing when you're down
• 21:37
  Speaker 4: to nothing is ask for help from it.
• 21:40
  Speaker 3: Yeah, could not agree with you more. I think David
• 21:43
  Speaker 3: is coming back here. We'll find him somewhere, you know,
• 21:48
  Speaker 3: really as long as you don't lose hope, and it's
• 21:52
  Speaker 3: easy to lose hope, things are going to turn around.
• 21:54
  Speaker 2: I've seen it so many times in.
• 21:56
  Speaker 3: My own life, where I thought I was at the
• 21:58
  Speaker 3: end of the line, you know, there was nothing else,
• 22:02
  Speaker 3: and then you know, one day later, life completely turns around.
• 22:07
  Speaker 2: Yeah, and you know, you.
• 22:08
  Speaker 3: Could ascribe it to mystical property spirituality, but you don't
• 22:14
  Speaker 3: even need to.
• 22:15
  Speaker 2: It's not necessary.
• 22:16
  Speaker 3: You just have to understand that that Lysa roller coaster
• 22:21
  Speaker 3: and when minute you're going up the cliff and the
• 22:23
  Speaker 3: next minute you're coming down with no breaks.
• 22:28
  Speaker 5: Garry.
• 22:29
  Speaker 4: One of those thoughts I had before this thing opened.
• 22:32
  Speaker 4: It was a roller coaster metaphor, and and and and
• 22:35
  Speaker 4: what my thought was, well, with that metaphor, usually you're
• 22:39
  Speaker 4: hanging out for dear life, all right, this ride and
• 22:42
  Speaker 4: the steep ascent that you can't see the bottom. I
• 22:45
  Speaker 4: have this little spooky notion in my head that what
• 22:48
  Speaker 4: I was going to say is I think if you
• 22:50
  Speaker 4: let go this time, that's how you're hit a land well.
• 22:53
  Speaker 3: All right, and we're going to put that in the
• 22:55
  Speaker 3: show notes. D R Shoon link is in the show
• 22:59
  Speaker 3: notes notes. Themorganreport dot Com sorry we lost you, David,
• 23:03
  Speaker 3: but we got you for most of it. And I'll
• 23:07
  Speaker 3: get a few prize gems from David and I'll post
• 23:10
  Speaker 3: them in the show notes this interview. Financial Survival Network
• 23:14
  Speaker 3: dot Com now doing substack because I don't have to
• 23:17
  Speaker 3: do any work with substack. It does it all for
• 23:20
  Speaker 3: me and it's free. Still the same website address, Darryl Man.
• 23:24
  Speaker 3: It's always good to catching up with you and we'll
• 23:28
  Speaker 3: talk to you again soon. David, wherever you are, we
• 23:30
  Speaker 3: will catch up with you later.
• 23:32
  Speaker 1: Thanks for listening to Carrie Letz's Financial Survival Network, your
• 23:36
  Speaker 1: solution to today's trying times. For the latest, go to
• 23:40
  Speaker 1: Financial Survivalnetwork dot com. Financial Survival Network
• 23:45
  Speaker 4: Now more than ever