Latest / Financial Survival Network / Can DOGE Save the US? - Craig Hemke #6198

Transcript

Can DOGE Save the US? - Craig Hemke #6198 · Financial Survival Network

0:00
Speaker 1: End of the Great Keynesian Experiment is just simply a
0:02
Speaker 1: mathematical problem.
0:04
Speaker 2: Right.
0:05
Speaker 1: Well, we added a trillion dollars in new debt in
0:08
Speaker 1: one hundred and six days, went from thirty six trillion
0:11
Speaker 1: to thirty seven train in one hundred and six days.
0:14
Speaker 1: You know, a lot of that's just compounding interest in math.
0:17
Speaker 1: The election of Trumph, some of the revolutionary ideas he has,
0:22
Speaker 1: like this Doze Committee, you know, to make some recommendations
0:25
Speaker 1: for cutting waste, and you know all these different things
0:29
Speaker 1: that's encouraging. I'm all for it. I mean, I won't
0:32
Speaker 1: even get me wrong, and I don't want to seem cynical.
0:35
Speaker 3: You were listening to Carrie Let's his Financial Survival Network
0:38
Speaker 3: where you get valuable information you just can't find anywhere
0:42
Speaker 3: else to thrive in today's trying times. You need the
0:46
Speaker 3: Financial Survival Network now more than ever. Go to Financial
0:50
Speaker 3: Survivalnetwork dot com and get your free newsletter and gift.
0:55
Speaker 3: Financial Survival Network now more than ever.
1:02
Speaker 4: And welcome you are listening to and watching the Financial
1:06
Speaker 4: Survival Network. I'm your host, Carrie Lets. Good friend Craighempkey
1:10
Speaker 4: is with us now TF Metalsreport dot com. Make sure
1:14
Speaker 4: you go sign up there now get his free newsletter.
1:17
Speaker 4: Got a question for Craig myself, Klatcarrie LUTs dot com
1:21
Speaker 4: is the place to send it to great So are
1:25
Speaker 4: we going through an American revival or all sins going
1:29
Speaker 4: to be forgiven?
1:30
Speaker 2: Now that the election is over?
1:32
Speaker 4: And I don't know, Maybe I wouldn't necessarily say the
1:35
Speaker 4: grown ups are back in charge, but maybe the more
1:39
Speaker 4: developed adolescents or running things than the pre pewbescent, you know,
1:45
Speaker 4: kids that I don't know what I'm saying here, Good off.
1:49
Speaker 1: Watch Hi, boy, I tell you things were really not
1:55
Speaker 1: that they're not crazy, but boy, you just think of that.
1:59
Speaker 1: A lot of things changed the last four years for
2:03
Speaker 1: our concerns about the precious metals. You know, I've been
2:06
Speaker 1: I remember when I got my start at zero Hedge
2:09
Speaker 1: writing in the comments section. People had like a tagline,
2:13
Speaker 1: you know, where you could write so that every one
2:16
Speaker 1: of your comments and with a tagline. And I don't
2:18
Speaker 1: know why, but I added a tagline. It was like
2:21
Speaker 1: two thousand and nine and I said, the end of
2:24
Speaker 1: the great Keynesian experiment is upon is prepare accordingly? And
2:27
Speaker 1: now you know it's like the name Terry Ferguson, I
2:30
Speaker 1: just kind of got stuck with it, and I got
2:31
Speaker 1: stuck with that tagline fifteen years ago. The end of
2:34
Speaker 1: the Great Keynesian Experiment is just simply a mathematical problem. Right, Well,
2:39
Speaker 1: we added a trillion dollars in new debt in one
2:42
Speaker 1: hundred and six days, went from thirty six trillion to
2:45
Speaker 1: thirty seven train in one hundred and six days. You know,
2:48
Speaker 1: a lot of that's just compounding interest in math. The
2:51
Speaker 1: election of Trump, some of the revolutionary ideas he has,
2:56
Speaker 1: like this Doze Committee, you know, to make some recommendations
2:59
Speaker 1: for cutting way and you know, all these different things
3:03
Speaker 1: that's encouraging. I'm all for it. I mean, I won't
3:06
Speaker 1: even get me wrong, and I don't want to seem cynical,
3:08
Speaker 1: but old men like myself and probably you two carry
3:12
Speaker 1: we can't help. But I always say there's a pretty
3:14
Speaker 1: fine line between cynicism and realism. Right So am I
3:18
Speaker 1: cynical to be doubtful? Or am I just being realistic
3:21
Speaker 1: that this train is too far down the tracks to
3:24
Speaker 1: reverse it? You know, if you the government were to
3:27
Speaker 1: actually try to cut spending from you know, the one
3:30
Speaker 1: point eight trillion deficit to a point eight trillion deficit.
3:34
Speaker 1: That reduction in liquidity would be significant. What would that
3:38
Speaker 1: do to markets? How much of the GDP growth that
3:42
Speaker 1: is trumpeted at three percent when you do the math
3:45
Speaker 1: nominally and adjusted to dollars, it equates almost exactly to
3:48
Speaker 1: that one point eight trillion dollars in government spending? How
3:50
Speaker 1: many of the new jobs are government employees? So I
3:54
Speaker 1: don't know if one if it's feasible that you know,
3:58
Speaker 1: the train can be slowed to any great extent, And
4:01
Speaker 1: I'm worried that if they try. What's that going to
4:03
Speaker 1: do to markets? What that does that do to the economy?
4:05
Speaker 1: Is to do the tax revenue could net net the
4:08
Speaker 1: reduction of deficit that falls through the spending reduction be
4:11
Speaker 1: offset by a reduction of tax revenues that would come
4:15
Speaker 1: in by the slowing of the economy. So anyway, societally, culturally,
4:18
Speaker 1: all that kind of stuff. Man, if we can get
4:21
Speaker 1: the boys off the girls, uh, you know, sports teams, great,
4:26
Speaker 1: But I don't know if economically how much econo how much?
4:33
Speaker 4: Hey, even if we can't get them off the sports teams,
4:36
Speaker 4: if we could just keep them the hell out of
4:38
Speaker 4: the bathroom, right.
4:39
Speaker 1: Right, I mean this is I mean, this is look
4:41
Speaker 1: I'm all for. You know, you know, a level playing
4:45
Speaker 1: field that you now be mixing my metaphors and all
4:47
Speaker 1: that stuff. You know, And but man, I tell you,
4:50
Speaker 1: as a father of two daughters, you know all of
4:53
Speaker 1: the efforts that were made over the last fifty years
4:56
Speaker 1: to try to create opportunities for women to excel in sports.
5:01
Speaker 1: You know, Title nine, you know all this kind of stuff.
5:04
Speaker 1: I mean, it is great. And then anyway, more getting
5:07
Speaker 1: on I'm getting off on a tangent here. There are
5:09
Speaker 1: things that can be impacted rather directly by you know,
5:14
Speaker 1: a new White House, a new administration. I don't know.
5:19
Speaker 1: I guess it's just I'm optimate. It remains we've seen
5:22
Speaker 1: what kind of economic and monetary and fiscal policy impact
5:25
Speaker 1: can be had. I think what happened in the immediate
5:29
Speaker 1: aftermath to the election was almost kind of a mania
5:32
Speaker 1: that all this stuff was ascertain to happen and was
5:35
Speaker 1: a certain happened quickly. We'll just see how it plays
5:37
Speaker 1: out next year.
5:38
Speaker 4: You know, it can make a difference. But you know,
5:41
Speaker 4: when we go back to the milkshake effect, Duncan's theory
5:45
Speaker 4: and all of this growth and everything that happens is
5:48
Speaker 4: because of credit. So you cut back on the amount
5:51
Speaker 4: of credit that the government's taking in and the amount
5:55
Speaker 4: of money that they're printing, and you know, it's got
5:58
Speaker 4: to lead to a crash. There's no other way get
6:01
Speaker 4: rid of a million government employees, even though I think
6:05
Speaker 4: government employees and oxymoron government worker.
6:09
Speaker 2: You know, I just don't see any way out of it.
6:12
Speaker 4: And yeah, I think it's easily two trillion dollars a
6:16
Speaker 4: year worth of waste baked into the system. Right, but
6:21
Speaker 4: you know, really really like I think you're right. I mean,
6:24
Speaker 4: we're too far down the rabbit hole here, right, Yeah, Well.
6:30
Speaker 1: And that's just it tend of math actually be And
6:32
Speaker 1: like you said, liquiddy banks that are holding all these
6:37
Speaker 1: alleged assets on their balance sheet that are underwater because
6:41
Speaker 1: of the movement interest rates, right the Federal Reserve and
6:44
Speaker 1: their balance sheet and the unrealized losses that they have.
6:47
Speaker 1: And so this notion that again Trump is going to
6:50
Speaker 1: it was a number of factors that all kind of
6:52
Speaker 1: came together that dull gold down ten percent, from which
6:55
Speaker 1: it's now recovering as we expected. But there are a
6:58
Speaker 1: number of factors you know, that Trump was going to
7:00
Speaker 1: promote economic growth, which was going to lead to inflation,
7:03
Speaker 1: which meant you should sell your bonds and rates are
7:06
Speaker 1: going up, and if rates are going up, that meant
7:08
Speaker 1: the dollar was going to go up. And then this
7:11
Speaker 1: you know, I'm all for bitcoin, but you know Trump
7:14
Speaker 1: was going to promote bitcoin, so get out of gold
7:16
Speaker 1: and get into bitcoin, and all of these factors combined
7:19
Speaker 1: for that pretty sharp sell off in gold. But now
7:23
Speaker 1: I think that the mania again to keep you using
7:26
Speaker 1: that term, this kind of hysteria that oh this is
7:28
Speaker 1: all going to happen overnight, has kind of worn off
7:32
Speaker 1: and the metals have found their footing. This is rather
7:36
Speaker 1: always very strong seasonal period. Doesn't mean we have to
7:40
Speaker 1: go up every December in January, but on average, December
7:43
Speaker 1: and January the third and second best months of the
7:46
Speaker 1: year for the precious metals. So I think we're seeing
7:50
Speaker 1: now again with this latest news out of China as well,
7:54
Speaker 1: a pretty solid rebound for the precious metals. It's going
7:57
Speaker 1: to get a little Santa Claus rally and extend in
8:00
Speaker 1: the January.
8:01
Speaker 4: Yeah, so the honeymoon eventually sounds like it's going to end.
8:07
Speaker 4: Where are we going to be at?
8:08
Speaker 2: Then?
8:10
Speaker 1: Well, yeah, you wonder. You know, this is not dissimilar
8:14
Speaker 1: to what happened in twenty sixteen. Uh you remember election night
8:17
Speaker 1: twenty sixteen, All of a sudden, gold just was up
8:20
Speaker 1: like a hundred bucks or whatever, eighty bucks when you
8:22
Speaker 1: went to bed and you woke up the next morning,
8:24
Speaker 1: it was down eighty bucks, yep. And then it sold off.
8:28
Speaker 1: And at the end of the year, as the dollar
8:30
Speaker 1: rally is, you know, Trump was going to be protectionists
8:32
Speaker 1: and tariffs and all this and this perception that strong dollar. Well,
8:36
Speaker 1: in fact, he was a week dollar president. You know,
8:39
Speaker 1: he actually wants a weaker dollar to promote US products
8:44
Speaker 1: and trade. And once that kind of solid rationale took
8:49
Speaker 1: hold in twenty seventeen, the dollar fell and the precious
8:52
Speaker 1: metals rallied for about the next eight or nine months.
8:55
Speaker 1: So we'll see if something similar doesn't play out next year.
9:00
Speaker 4: All right, So gold today we're up pretty smartly. Silver
9:06
Speaker 4: is up over a buck. What of silver here? What's
9:09
Speaker 4: going on here?
9:10
Speaker 1: Well, this is this is probably the most interesting story
9:13
Speaker 1: to me. At this point on the chart, silver has
9:18
Speaker 1: kind of a classic double bottom where you and you
9:21
Speaker 1: see this as a classic double top till you come
9:23
Speaker 1: down to a spike low, you get a bounce, and
9:26
Speaker 1: then you get kind of a rounded low at the
9:29
Speaker 1: same level. A lot of classic double tops that way,
9:31
Speaker 1: you get this blow off top, you get a pullback,
9:33
Speaker 1: and then you go up and you round over trying
9:35
Speaker 1: to make a new high, and then that's it. You
9:38
Speaker 1: can see that on the chart. You can also see
9:41
Speaker 1: that in this series of his long term uptrend silver's
9:44
Speaker 1: been in since March. Really at the conclusion of the
9:48
Speaker 1: most recent pullback in July, silver came within a whisker
9:50
Speaker 1: of its two hunderday moving average kind of bounced off
9:53
Speaker 1: of it for about four days. Silver came down within
9:56
Speaker 1: ten cents of its twourday moving average back the night
9:58
Speaker 1: before Thanksgiving that Wednesday night two weeks ago. Yeah, I
10:02
Speaker 1: got to thirty oh nine something like that. Now it's
10:05
Speaker 1: pushing thirty three today. So a lot of things on
10:08
Speaker 1: the chart that looks good. What I want to watch
10:12
Speaker 1: for Carrie, and I think this will be the most
10:15
Speaker 1: significant thing as we head into this month, and then
10:17
Speaker 1: as twenty twenty five begins, people will recall, you know,
10:21
Speaker 1: we're all frustrated, you know, as silver owners, because you know,
10:24
Speaker 1: price got to fifty dollars in nineteen seventy nine. You
10:27
Speaker 1: know whatever round up got to fifty dollars round up
10:30
Speaker 1: in twenty eleven, and those are great years into a year.
10:35
Speaker 1: But both of those years finished at about thirty one
10:40
Speaker 1: in a quarter. So if you pull up an annual chart,
10:45
Speaker 1: you know, not a daily charter, a weekly charter, a
10:47
Speaker 1: chart just a you know, a candlestick chart of every
10:50
Speaker 1: year of silver going back to last fifty years. You
10:53
Speaker 1: see these big green candles, but both of them finish
10:56
Speaker 1: at thirty one twenty on the spot market. We're right
10:59
Speaker 1: now about thirty. We get an annual chart breakout at
11:05
Speaker 1: the end of this year. That could be something that
11:08
Speaker 1: really drives a solid institutional high net worth you know,
11:13
Speaker 1: family office, whatever bid for silver next year. Do you
11:17
Speaker 1: remember do you remember Carrie? Who is that guy from
11:21
Speaker 1: gugenhant Heim Scott so wait, what was his name? Scott Minard?
11:27
Speaker 1: I remember this from a couple of years ago. Dude
11:31
Speaker 1: was a dabos and he's sitting there and he's on
11:34
Speaker 1: a CNBC or Bloomberg panel or somebody goes, I think
11:37
Speaker 1: the you know a silver about eighteen bucks is I
11:39
Speaker 1: think silver is the investment of the year, and they
11:42
Speaker 1: were all like, why you talking about it? Because nobody
11:46
Speaker 1: owns it? Are you and I own it? People are
11:49
Speaker 1: watching this own it. Maybe nobody owns it in no
11:54
Speaker 1: institution or hedge fund, nobody owns it in size. What
11:58
Speaker 1: gets their attention a breakout on an annual chart where
12:04
Speaker 1: you see, wow, oh, what's going on here? So for
12:09
Speaker 1: everybody watching this, we got three weeks to go to
12:11
Speaker 1: the end of the year, watch that thirty one five
12:16
Speaker 1: or so in silver. If we can extend with the
12:20
Speaker 1: Santa Claus rally, that might be a little foreshadowing of
12:26
Speaker 1: what might be to come next year.
12:28
Speaker 4: Well we hit thirty five, right, yeah, and bounce back
12:33
Speaker 4: what you expect, right yeah, And gold was kind of
12:37
Speaker 4: like hanging out and kind of retracing a bit. Now
12:42
Speaker 4: it's kind of freeing up. I guess until silver leads gold,
12:47
Speaker 4: we just don't know, huh.
12:49
Speaker 1: Well, it kind of is a little bit.
12:52
Speaker 2: You know.
12:53
Speaker 1: The mining shares have been interesting as well lately for
12:57
Speaker 1: the obvious reason. I mean, they got this washed back
13:00
Speaker 1: in November. The big primary drivers of the mining sector really,
13:05
Speaker 1: I mean, even Stanley Druckammeller Terry you think you know
13:08
Speaker 1: it is obviously about a million times smarter than I am.
13:11
Speaker 1: But when he wants to own precious metals, he buys
13:14
Speaker 1: a GDX and he buys Numont, which is like the
13:17
Speaker 1: two stupidest things you could possibly buy. This brilliant guy,
13:21
Speaker 1: but he just you know, reflects a lot. I don't
13:22
Speaker 1: know what anything about goals lit by Newmont. So in
13:25
Speaker 1: Newmont and Barrack are always the worst performing mining companies
13:29
Speaker 1: because they I mean, they have the same share price
13:31
Speaker 1: had twenty years ago, because they can't control their costs.
13:33
Speaker 1: So when they release earnings, as Newmont did in late October,
13:37
Speaker 1: just crushed the sector, just killed it. And a week
13:40
Speaker 1: later because Barrack with the same problem to wipe this out.
13:44
Speaker 1: So anyway, the mining sector pulls back. But now mining
13:46
Speaker 1: you know, smarter mining investors are going await a second.
13:49
Speaker 1: The price of gold is still twenty six fifty twenty
13:53
Speaker 1: seven hundred. I bet the fourth quarter is going to
13:54
Speaker 1: look pretty good too, just like the third quarter. The
13:58
Speaker 1: mining shares are recovering. They're being accumulated a lot of
14:01
Speaker 1: green candles on the daily chart, which means priced rallying
14:04
Speaker 1: through the New York Socke Exchange session GDX rallying up
14:09
Speaker 1: getting back above it's fifty day moving average. Silver's back
14:12
Speaker 1: above it's fifty day moving average as we speak. It
14:15
Speaker 1: might be kind of leading gold a little bit here again. Seasonally, Carrie,
14:20
Speaker 1: this is a good time of year. Yeah, after we
14:23
Speaker 1: get that through the tax lost selling season, particularly in Canada,
14:26
Speaker 1: that usually wraps her up around the sixteenth seventeen eighteenth
14:29
Speaker 1: of December, this should be a good time of year.
14:32
Speaker 1: We should a year in rally and we could extend
14:34
Speaker 1: that rally with some positive sentiment into January.
14:38
Speaker 4: All right, well from your mouth, I guess, but we
14:44
Speaker 4: do know seasonally this is always you know, middle to
14:49
Speaker 4: end of Q four to middle to end of Q one,
14:54
Speaker 4: that's good time. But you know, the stock market has
14:59
Speaker 4: stayed strong throughout all this. There's like no, it's just
15:05
Speaker 4: complacency is ruling and until it does right well.
15:10
Speaker 1: In liquidity too, there's I mean, we might be getting
15:15
Speaker 1: into some spots with a shortage of liquidity, like that
15:17
Speaker 1: reverse repo balance that was at one point two point
15:20
Speaker 1: five trillion dollars is now down Electro one hundred and
15:22
Speaker 1: fifty billion. But the important news that whise gold and
15:27
Speaker 1: silver up here on Monday the night a big change
15:30
Speaker 1: of monetary and fiscal policy out of China last night,
15:34
Speaker 1: first public change since twenty eleven, signaling that for the
15:39
Speaker 1: at least the next year, they're going to be very
15:41
Speaker 1: loose and accommodated and providing liquidity and trying to keep
15:45
Speaker 1: liquidity flowing out of China. Well there, you know, it's
15:48
Speaker 1: just more more global fiat to help drive everything.
15:55
Speaker 4: What he's here too, right, US's securary, it's already baked
15:59
Speaker 4: in the cake.
15:59
Speaker 1: And right, well exactly, I mean, the Fed is talking.
16:05
Speaker 1: You know, they're going to cut rates again here next
16:07
Speaker 1: month or next week. I should say, we'll see how
16:10
Speaker 1: much they actually then expect to cut next year. But
16:13
Speaker 1: they're being easy and carry you know. In the end,
16:16
Speaker 1: that's where this all has to lead. I mean, even
16:19
Speaker 1: with I mean Trump, Trump's some real estate guys exists
16:23
Speaker 1: on debt. He knows lower interest rates are better than
16:26
Speaker 1: higher interest rates. Right, so you can still see this
16:29
Speaker 1: path of global loosening, you know, to try to just
16:33
Speaker 1: keep the gears of liquidity greased, and that it's a
16:38
Speaker 1: kind of a stretch or maybe I don't know to
16:40
Speaker 1: say that. You know, rising tide lifts all boats here. Well,
16:44
Speaker 1: until we get into some real sharp liquidity squeeze and
16:47
Speaker 1: reduction of global liquidity. It's hard not to see where
16:52
Speaker 1: things like the stock market don't keep going up.
16:55
Speaker 4: Yeah, yeah, I mean it really then we have had
17:00
Speaker 4: any We made it through September and October, it out
17:05
Speaker 4: any wild dest right, any crashes. And you'd think this year,
17:11
Speaker 4: of all years, with the uncertainty of the presidential election,
17:16
Speaker 4: all this stuff going on, if it was ever going
17:19
Speaker 4: to crash, it would be this year.
17:20
Speaker 2: And yet it didn't.
17:22
Speaker 1: Yeah, yeah, right, yeah, And you know, and there's some
17:26
Speaker 1: history the first year of a presidential cycle typically is
17:31
Speaker 1: a little challenging, but not you know, not that's not
17:34
Speaker 1: universally true, but it can be. And again, you almost
17:38
Speaker 1: need a signaling event that would kind of cause some
17:41
Speaker 1: of these dominoes to start tumbling into each other. You know,
17:46
Speaker 1: some kind of real crash in the US bond market
17:49
Speaker 1: that gets rates, you know, the ten year note backup
17:52
Speaker 1: over five percent or something and moving higher again, what's
17:56
Speaker 1: going to cause that? In fact, even you know, the
17:58
Speaker 1: last two weeks you'll on the ten year note, it's
18:00
Speaker 1: down twenty five basis points. Bond market's rallying. So again, hey,
18:05
Speaker 1: look I predicted about ten of the last one stock
18:09
Speaker 1: market crashes. Things just keep going up, you know, and
18:14
Speaker 1: maybe carrying the end, it just auders that toward that
18:17
Speaker 1: old Austrian economics idea of the crackup boom that toward
18:21
Speaker 1: the end, all these central banks are just creating so
18:25
Speaker 1: much cash trying to service their debt and it just
18:27
Speaker 1: leaks out into everything. And maybe that's all part of
18:31
Speaker 1: what continues.
18:33
Speaker 4: Perhaps, and I mean here, even over the weekend, we
18:36
Speaker 4: have the collapse of the Syrian regime, right, the end
18:43
Speaker 4: of the fifty year peace treaty between Syria and Israel. Right,
18:49
Speaker 4: We've got and we don't even know who the heck
18:51
Speaker 4: is going to go in there and run the show.
18:55
Speaker 4: And maybe that's why gold's going up. I hate to
18:57
Speaker 4: like try to attach news events to gold other than
19:02
Speaker 4: when something really bad happens and it shoots up one
19:05
Speaker 4: hundred dollars announce then you know, but the normal flood,
19:09
Speaker 4: day to day fluctuations. It's like trying to say why
19:13
Speaker 4: the stock market went up, Right, Well, I went down today?
19:16
Speaker 1: You know, it's pointless, right, but here and it is
19:20
Speaker 1: you know, today's rally a lot with China. You know,
19:22
Speaker 1: we got smashed for fifty dollars in gold back in
19:25
Speaker 1: June when China announced they were stopping for a little while.
19:29
Speaker 1: So then back on Saturday morning, they announced that they
19:32
Speaker 1: were going to six new metric tons that they're acquiring.
19:34
Speaker 1: So part of it's that a lot of today's rally
19:38
Speaker 1: is this this policy stance, formal policy stance. It's been
19:42
Speaker 1: announced by the PBOC. All commodities hire coppers up a
19:46
Speaker 1: couple percent. I mean, my entire commodity board on my
19:49
Speaker 1: screen is green. Yeah, So all those are are pretty
19:53
Speaker 1: positive fundamental factors that are that are pushing us up today. Well,
19:58
Speaker 1: you know, again, the geopolitical stuff is going to continue
20:03
Speaker 1: to be first and foremost on everybody's mind, as you know,
20:08
Speaker 1: until Trump gets elected probably, but even after that, and
20:13
Speaker 1: we're still going to have troubles everywhere, you know, Middle
20:15
Speaker 1: East and Eastern Europe and the rest. Gold continues to
20:20
Speaker 1: be viewed as a safe haven no matter what the
20:25
Speaker 1: bitcoin maximust want to spin it. I had no problem
20:29
Speaker 1: own them both. I've owned both. I bought bitcoin six
20:31
Speaker 1: hundred bucks about eight years ago. I wish i'd bought more.
20:36
Speaker 1: I wish had bought it at a six dollars, But
20:40
Speaker 1: nonetheless I think they both. Why it has to always
20:43
Speaker 1: be presented is one or the other I don't understand.
20:47
Speaker 1: But nonetheless, whatever, I think there's right future ahead for both,
20:53
Speaker 1: and twenty twenty five should continue the trends we've seen
20:56
Speaker 1: this year.
20:58
Speaker 4: And yeah, we were amiss if we didn't mention the
21:01
Speaker 4: fact that bitcoin broke one hundred k, right, I don't
21:05
Speaker 4: know what it's selling it at this particular moment.
21:09
Speaker 1: Ninety eight, ninety seven something like that.
21:11
Speaker 4: Yeah, it's pretty close to one hundred k, you know,
21:18
Speaker 4: I think it continues to go up. I think one
21:20
Speaker 4: fifty one thirty five to one fifty is kind of
21:24
Speaker 4: what I'm expecting, you know, once it breaks out of
21:27
Speaker 4: whatever it's in now.
21:29
Speaker 2: But it's obvious that it's got a lot more to
21:35
Speaker 2: go here, you know.
21:36
Speaker 1: Yeah, well, target, when we started this talking about math,
21:40
Speaker 1: you can talk about math there too. What a nineteen
21:44
Speaker 1: million big coin or whatever it is have been mined,
21:46
Speaker 1: but the most they're ever going to mine is twenty
21:48
Speaker 1: one million.
21:49
Speaker 4: What.
21:49
Speaker 1: I'm not a big bitcoin pert. I don't know what
21:51
Speaker 1: the exact numbers are. We Once I figured that out
21:53
Speaker 1: in twenty sixteen, I went wait, a second, this is
21:56
Speaker 1: just supply and demand. You know, supply is fixed if
22:00
Speaker 1: and then dwindling the future supply while demand is increasing
22:04
Speaker 1: over time. How does this not work? Yeah, and so
22:08
Speaker 1: I was fortunate I figured that out when I did.
22:11
Speaker 1: But again I don't I did. That's the thing. I
22:13
Speaker 1: don't see them as opposite ideas, and they're both just alternative.
22:18
Speaker 1: Gets your money out of fiat, yeah, as that continues
22:22
Speaker 1: to be devalued versus everything and move it into something else,
22:25
Speaker 1: And that's they both provide that that role.
22:28
Speaker 2: Yeah.
22:28
Speaker 4: Yeah, And look, I think if the government, really the
22:33
Speaker 4: governments of the world really wanted to shut it down,
22:35
Speaker 4: or the US government wanted to shut it down, it
22:38
Speaker 4: would have been gone already. We can speculate as to why.
22:42
Speaker 4: But they could block every bitcoin node and you would
22:45
Speaker 4: never be able to find out again what price it
22:48
Speaker 4: would be selling for. And that would be the end
22:51
Speaker 4: because once there's no because bitcoin is all about price discovery, right,
22:55
Speaker 4: you instantly can find out what it's worth any moment
22:58
Speaker 4: of the day. Whether that price it's true or not,
23:01
Speaker 4: we could debate that, but at least you can find
23:04
Speaker 4: out the theoretical price of it, and where you not
23:08
Speaker 4: be able to do that, that would kill it for good.
23:12
Speaker 4: But now Trump is pro crypto. We didn't even talk
23:16
Speaker 4: about in He appointed a czar in charge of AI
23:21
Speaker 4: and crypto.
23:22
Speaker 2: You know, that's look pretty wild. Who would think?
23:26
Speaker 1: Yeah, And it's forward looking, you know, And that's where
23:31
Speaker 1: we need to be in twenty twenty four, that's for sure.
23:34
Speaker 4: And yet he's adamant about not allowing a cb DC, right.
23:40
Speaker 1: Let's hope. So those are the kind of things that
23:45
Speaker 1: keep me up at night. You know that there has
23:46
Speaker 1: been this war on physical cash for about as long
23:51
Speaker 1: as I've had my website, and that is something Remember,
23:54
Speaker 1: that's a war we have to win.
23:57
Speaker 4: Remember I wrote an article many years ago called Operation
24:01
Speaker 4: Dirty Money, where they weren't even they weren't even replacing
24:06
Speaker 4: the Warren bills in circulation during Obama's time. And my
24:11
Speaker 4: friend who had an ATM business in hotels in Florida
24:16
Speaker 4: here actually sold the business because he was getting jam
24:21
Speaker 4: ups all the time and he'd be away and his
24:23
Speaker 4: wife would have to go to the ATM with thirty
24:26
Speaker 4: forty k in cash. She didn't want to do it.
24:29
Speaker 4: And you know they couldn't. They could not get clean
24:33
Speaker 4: bills now that problem for whatever reason, remedied it remedied itself.
24:38
Speaker 2: I have no idea why it happened.
24:40
Speaker 4: I have no idea why it was solved, other than
24:45
Speaker 4: the fact that they don't want you carrying cash.
24:49
Speaker 1: Yeah, and physical metal fits in that category.
24:52
Speaker 4: Two.
24:53
Speaker 1: I mean, you know, I mean, we've talked about this
24:55
Speaker 1: multiple times over the years. I reck, you only don
24:57
Speaker 1: understand if your net worth and financial well being can
25:02
Speaker 1: be reduced to nothing but a string of zeros and ones,
25:06
Speaker 1: it can be canceled and taken from you in a keystroke.
25:10
Speaker 1: So you know, when they sit there and say, oh,
25:12
Speaker 1: you don't need cash, and really the only people that
25:15
Speaker 1: use cash or bitcoin is elicit you know, things like
25:18
Speaker 1: bookies and drug dealers and money laundering and stuff like that.
25:22
Speaker 1: That's their excuse for trying to take you know, actual
25:25
Speaker 1: alternatives out of your hands. Don't let them. And this
25:28
Speaker 1: is that's the most long term, that's the most important
25:30
Speaker 1: war we got to fight.
25:32
Speaker 4: It's so true enough, like it just I went to
25:36
Speaker 4: Europe like a couple of weeks ago to visit my son,
25:39
Speaker 4: and you know, I carried X amount of cash. I
25:42
Speaker 4: don't like to say how much cash I carried, but
25:44
Speaker 4: more than I usually would. And Craig, it's the first
25:48
Speaker 4: time I ever went overseas and never changed money, because
25:53
Speaker 4: it's like you just use your card. You don't even
25:55
Speaker 4: use your card, you use your use your iPhone and
25:58
Speaker 4: you just scan it and you know it didn't matter
26:02
Speaker 4: where it was. Now you go to Thailand, they're twenty
26:05
Speaker 4: thirty years behind.
26:06
Speaker 2: You have to use cash.
26:08
Speaker 4: Germany big on cash certain societies, but I was in
26:13
Speaker 4: Sweden and Denmark. No cash to be seen in those
26:17
Speaker 4: countries and that idea. So they've basically gotten for convenience.
26:23
Speaker 4: They've gotten everybody to give it up.
26:25
Speaker 2: Right. Yep.
26:27
Speaker 1: Again, there's a reason why I was written in the
26:29
Speaker 1: US Constitution the gold and silver our money, because that
26:33
Speaker 1: is they still part of your personal freedom. Now is
26:38
Speaker 1: this something that again I keep referring to it as
26:41
Speaker 1: a battle and a fight, but it is. And the
26:44
Speaker 1: more people that understand that, the better chance we have
26:47
Speaker 1: of winning.
26:47
Speaker 4: Totally agree with you, man, I think we'll leave it
26:49
Speaker 4: at that. Make sure you go over to tfnetalsreport dot com.
26:54
Speaker 4: For a little more than the price of a latte,
26:58
Speaker 4: you can subscribe. Even if you don't subscribe, you'll get
27:01
Speaker 4: the regular newsletters. But the forum is really worth it
27:05
Speaker 4: because Creig, you have some of the brightest subscribers of
27:09
Speaker 4: any site I've ever seen.
27:11
Speaker 1: Thank you. Yeah, you know, I was just just looking
27:13
Speaker 1: through the weekend thread of comments on my Friday podcast,
27:17
Speaker 1: the stuff that there's a couple of people on there say,
27:20
Speaker 1: how do you people talking about about me, talking about
27:22
Speaker 1: the other members of the site. How do you be
27:24
Speaker 1: more time to find all this information?
27:27
Speaker 4: Uh?
27:28
Speaker 1: Yeah, it's that's really important, and especially you know at
27:31
Speaker 1: a time like this, you need as much information as
27:34
Speaker 1: you can get. Man. Yes, if this election and everything
27:38
Speaker 1: in the run up to it taughtch anything, you need
27:41
Speaker 1: to be out there thinking for yourself. You just can't
27:43
Speaker 1: be swallowing what the mainstream media or the mainstream financial
27:47
Speaker 1: media try to tell you. You got to be thinking
27:49
Speaker 1: for yourself. You're gonna left hold in the bag.
27:51
Speaker 4: I could not agree with you. Mar Hey, you've got
27:53
Speaker 4: a question for Craig myself. Email kl at carrie Lets
27:57
Speaker 4: dot com. Link to craig site is in the show
28:00
Speaker 4: noteses interview on Financial Survival Network dot com. And make
28:05
Speaker 4: sure you sign up for your free newsletter. We've got
28:08
Speaker 4: over sixty thousand people subscribe now can believe it this point,
28:12
Speaker 4: going from literally zero but over fourteen years. People get
28:16
Speaker 4: the word out and Craig, we'll talk to you again soon, Happy, healthy,
28:21
Speaker 4: merry Christmas.
28:22
Speaker 2: Talk to you after the first.
28:23
Speaker 1: Right back at you, my friend, all the best.
28:25
Speaker 3: Thanks for listening to Carrie Letz's Financial Survival Network, your
28:29
Speaker 3: solution to today's trying times. For the latest, go to
28:33
Speaker 3: Financial Survivalnetwork dot com. Financial Survival Network
28:38
Speaker 1: Now more than ever,