Latest / Financial Survival Network / War, Central Banks, and Gold's Future - Craig Hemke #6414

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War, Central Banks, and Gold's Future - Craig Hemke #6414 · Financial Survival Network

• 0:00
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  Speaker 2: And welcome.
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  Speaker 3: You are listening to and watching the Financial Survival Network.
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  Speaker 3: I'm your host, Carrie Let's Craig Hemketf Metalsreport dot com
• 0:36
  Speaker 3: is with us now. It's been a little while since
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  Speaker 3: we last spoke, Craig. A lot of things have happened,
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  Speaker 3: like silver losing fifty percent gold gold basically going back
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  Speaker 3: to last year's Hi, pretty much.
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  Speaker 2: It's been a boring year, hasn't it. Yeah?
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  Speaker 4: Yeah, I we're thinking as you're talking and carry about.
• 1:01
  Speaker 5: Remember I write those annual forecasts every year in December
• 1:06
  Speaker 5: and usually come on in January with you to talk
• 1:09
  Speaker 5: about it. And I always we always joke about how
• 1:12
  Speaker 5: there's no point in doing this because if you get
• 1:15
  Speaker 5: anything right, people will be like, well, yeah, you got anyway,
• 1:17
  Speaker 5: you can see that coming, and then it's all the
• 1:19
  Speaker 5: other stuff that you don't see coming.
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  Speaker 4: That up ends things usually, and we will get.
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  Speaker 5: Back to focusing the market, and the gold price will
• 1:29
  Speaker 5: get back to focusing upon everything that was driving it
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  Speaker 5: in twenty four and twenty five, maybe by next year.
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  Speaker 5: But man, this this war on Iran and how long
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  Speaker 5: it has played out and continues to play out, has
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  Speaker 5: certainly been the game changer for this year and we're
• 1:45
  Speaker 5: still dealing with it.
• 1:46
  Speaker 3: Yeah, and it's and it's all been counterintuitive. You would
• 1:49
  Speaker 3: think that metal prices would explode based on this, and
• 1:53
  Speaker 3: oil prices would explode, and it just shows how crazy
• 1:58
  Speaker 3: the metals market is and modities in general, because it's
• 2:02
  Speaker 3: always counterintuitive, right, hate.
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  Speaker 5: Right, Well, you know, for the gold price specifically, and
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  Speaker 5: of course silver follows it. All through last year, the
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  Speaker 5: yield on the ten year note was steadily declining, and
• 2:19
  Speaker 5: even though if you have figure out real interest rates
• 2:22
  Speaker 5: based off of inflation expectations and that sort of thing,
• 2:25
  Speaker 5: even though real interest rates were positive, they were falling
• 2:28
  Speaker 5: all year long, which kind of created a backdrop at
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  Speaker 5: least removed a hindrance for the gold price as it
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  Speaker 5: moved up last sixty three percent last year by the way, Yeah,
• 2:40
  Speaker 5: this year because of the expected inflation and the Fed
• 2:44
  Speaker 5: hiking and the tenure on the yield on the two
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  Speaker 5: year note has gone up one hundred basis points since
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  Speaker 5: the war began, I mean a full one percent. And
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  Speaker 5: because of that, that trend of the trend lower of
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  Speaker 5: real interest rates has reversed and it's been higher, and
• 3:00
  Speaker 5: that's been the biggest thing that has shoved the.
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  Speaker 4: Gold price backward.
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  Speaker 5: But even you know, Carrie, as we record this, whatever
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  Speaker 5: today is the sixth I mean, gold's back up near
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  Speaker 5: forty three hundred dollars. It finished the year last year
• 3:12
  Speaker 5: we all remember January, but it finished the year at
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  Speaker 5: forty three twenty five. So even right now, I mean
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  Speaker 5: basically down one percent.
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  Speaker 4: On the year.
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  Speaker 5: And you think, well, but in the grand scheme of
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  Speaker 5: things this century, gold had been up twenty five percent
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  Speaker 5: in a year three times uh, and in each following
• 3:32
  Speaker 5: year it had gone flat or maybe eked out an
• 3:35
  Speaker 5: eight or nine percent before then dumping backward. Well, it
• 3:39
  Speaker 5: was up twenty five percent in twenty twenty four and
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  Speaker 5: followed it with, like I said, sixty three percent last year.
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  Speaker 5: So if by the time it's all done and all
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  Speaker 5: the books are written and all the posts are written,
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  Speaker 5: and you know, we're singing all lang zion on New
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  Speaker 5: Year's Eve. If gold is flat on the year like
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  Speaker 5: it is right now, we'll look back go Well, all
• 4:01
  Speaker 5: that crap happened. Gold was probably due after two years
• 4:04
  Speaker 5: that it had to go sideways anyway, and and then
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  Speaker 5: that's what it's doing. But Ben, the fundamentals haven't changed.
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  Speaker 5: The central bank buying hasn't changed. It need to run
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  Speaker 5: it hot, low interest rates, all that.
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  Speaker 4: Kind of stuff, none of that has changed.
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  Speaker 5: And the fundamental picture will probably start to hold sway
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  Speaker 5: again before too long.
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  Speaker 3: So worsh is talking a big hawkish game, and you
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  Speaker 3: wrote your article peak hawk and it looks like he's
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  Speaker 3: carrying that team on. But how much longer can he
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  Speaker 3: really do that? Right?
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  Speaker 2: Right?
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  Speaker 4: Exactly?
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  Speaker 5: You know when the metals first broke at the end
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  Speaker 5: of January and the dollar began to rally from the
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  Speaker 5: end of January all the way up maybe until like
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  Speaker 5: last week. It was all when you know, he was
• 4:56
  Speaker 5: announced that he was going to be the next fedhead
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  Speaker 5: and it's always going to be so hawkish, remember all
• 5:01
  Speaker 5: that stuff in late January, and then he comes in
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  Speaker 5: and in June at his first FOMC made it sound
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  Speaker 5: like you know, he was going to be a price Stability, Pricedability,
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  Speaker 5: Priceability task Force, Priceability task Force, task Force.
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  Speaker 4: But you know, that's all he said.
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  Speaker 5: And I caught me by surprise because I don't think
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  Speaker 5: he actually sat in front of Bessett and Trump in
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  Speaker 5: the Oval office and a job interview and said, yeah,
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  Speaker 5: you know what, price stability.
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  Speaker 4: I don't care what you guys want. I'm gonna do.
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  Speaker 5: You know, there's just no way they're working, the three
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  Speaker 5: of them are working together. And so I think he
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  Speaker 5: came in and wanted to prove his independence, you know,
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  Speaker 5: and his bona fides. He's his own man, you know,
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  Speaker 5: and I'm gonna be I'm gonna do whatever.
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  Speaker 4: It takes for the little guy.
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  Speaker 5: And I think that's what what he has tried to
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  Speaker 5: do in the first, you know, two months here, and
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  Speaker 5: that's when he had that FOMC and everybody got all
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  Speaker 5: hawkish and the chances of great hikes later this year
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  Speaker 5: went from one to two to maybe three. And that's
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  Speaker 5: when Goldfeld about four thousand dollars an ounce back at
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  Speaker 5: the end of June. June, and that's when I was
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  Speaker 5: just a morning post I wrote for my subscribers the
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  Speaker 5: TIAP Metals report, and I got done with it, and
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  Speaker 5: I thought I should make this public just because I
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  Speaker 5: think people need then you got to do what I
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  Speaker 5: can to kind of help people hold the line here
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  Speaker 5: because there was a reason. I'm sorry, my nose is
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  Speaker 5: so it's you today. There's reason to be optimistic that
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  Speaker 5: four thousand dollars was resistance late last year. It should
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  Speaker 5: be support. Fifty four fifty five looked like a logical
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  Speaker 5: level for a bottom for silver, and I thought, this
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  Speaker 5: is as hawkish as is going to get. That's why
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  Speaker 5: I call it peak hawk for peak hawkishness. And as
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  Speaker 5: a matter of fact, we went sideways then for about
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  Speaker 5: six weeks until this week. And now with all the
• 6:45
  Speaker 5: dollar you know, yen stuff and the Treasury of working
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  Speaker 5: with the Bank of Japan and everything else is going
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  Speaker 5: on behind the scenes, cold's starting to turn higher again.
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  Speaker 5: So if I contributed anything back at the end of June,
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  Speaker 5: at least I hope I helped keep people kind of saying,
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  Speaker 5: you know, and you know, gold wasn't and it's not.
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  Speaker 5: Gold's not going back to three thousand or twenty five hundred.
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  Speaker 5: The fact that silver is still above fifty uh ten
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  Speaker 5: months after it first broke above fifty for the first
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  Speaker 5: time ever, and that should be assigned to everybody that
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  Speaker 5: it's not going back to twenty So anyway you don't
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  Speaker 5: think so, yeah, exactly, Well, you know, and Carrie, actually,
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  Speaker 5: if you know in a way, you know, everybody wants
• 7:26
  Speaker 5: to measure silver versus money supply and inflation adjusted versus.
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  Speaker 4: Nineteen eighty and all that kind of stuff.
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  Speaker 5: We silver went to forty eight and twenty eleven and
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  Speaker 5: then languished, you know, and went down into the twenties.
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  Speaker 5: Well I went to one hundred and twenty.
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  Speaker 4: Or whatever he blew up to in January. Now it's sixty.
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  Speaker 5: What's the difference, you know, So there's really no reason
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  Speaker 5: to think it's going to go back all the way
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  Speaker 5: to twenty. I just think it bases around here. I
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  Speaker 5: don't know how long it'll base. But eventually the dynamics,
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  Speaker 5: you know, the supply, you know, the production deficits every year,
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  Speaker 5: all that stuff, all of that kicked back in, you know,
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  Speaker 5: once we remove some of these unexpected variables that have
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  Speaker 5: we begun to encounter here in twenty six.
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  Speaker 3: And nothing is interfering like with demand, especially silver. We've
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  Speaker 3: got data centers we've got solarisation, we've got you know, decarbonization,
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  Speaker 3: although they're not calling it that, but electrification.
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  Speaker 2: Let's call it that.
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  Speaker 3: We've got a mega project boom taking place in the
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  Speaker 3: United States and across the globe, which it doesn't consume tons, well,
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  Speaker 3: it does consume tons of silver overall, maybe not individually,
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  Speaker 3: a lot in the projects, but there's there's definitely silver consumption.
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  Speaker 3: The demand picture has never been stronger.
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  Speaker 5: Right, and tie that to copper because you know, you
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  Speaker 5: just say copper is more important all that electrification stuff,
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  Speaker 5: and copper, as we record this, just made a new
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  Speaker 5: all time high earlier this morning, and there are all
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  Speaker 5: kinds of concerns about supply squeezes coming out of China
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  Speaker 5: and the like, and copper. You know, silver is kind
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  Speaker 5: of this blend if you want. I mean, copper is
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  Speaker 5: this industrial metal, gold is this monetary metal, and silver
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  Speaker 5: is kind of a little bit of both, probably more
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  Speaker 5: industrial than monetary in twenty twenty six, but you never.
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  Speaker 4: Know how that's going to play out.
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  Speaker 5: And so storing copper prices and all time highs that
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  Speaker 5: provides support for silver two with the amount of trick
• 9:38
  Speaker 5: myths done by algorithm. So yeah, I just I think
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  Speaker 5: we're good. When I wrote in that Peak Hawk article,
• 9:45
  Speaker 5: maybe you can link it on this page carry and
• 9:47
  Speaker 5: people can go back and read it. I just thought,
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  Speaker 5: you know, as we're approaching the end of the first
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  Speaker 5: half of the year and down as much as we were,
• 9:53
  Speaker 5: I thought, you know, from here, maybe they blow out
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  Speaker 5: four thousand to drop gold to thirty nine hundre, maybe
• 10:00
  Speaker 5: they drop silver a little further down.
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  Speaker 4: To fifty four or something like that.
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  Speaker 5: But I say, you got two or three percent downside
• 10:07
  Speaker 5: versus an upside of ten to twenty percent into the
• 10:10
  Speaker 5: end of the year. I mean, that's a pretty favorable
• 10:12
  Speaker 5: risk reward. And so far, that's so far here in
• 10:17
  Speaker 5: early August seems to be working working out just fine.
• 10:21
  Speaker 3: Yeah, it's it's remarkable to see and yeah it you know,
• 10:26
  Speaker 3: one Stavvy investor once told me that the market always
• 10:32
  Speaker 3: seeks to frustrate the majority of investors and in anything,
• 10:37
  Speaker 3: whether it's stocks, commodities, gold, silver, And you know, I
• 10:44
  Speaker 3: think you ignore that at your peril because it's going
• 10:48
  Speaker 3: to do it at least temporarily shake out the weak hands, right,
• 10:51
  Speaker 3: and they go on its next, its next move. But
• 10:55
  Speaker 3: certainly August here is shaping up to look like, you know,
• 11:01
  Speaker 3: we're getting to this seasonally strong part of the year
• 11:04
  Speaker 3: and we're going to see some movement. I don't see
• 11:07
  Speaker 3: how we don't. The situation, the geopolitical situation so unstable,
• 11:14
  Speaker 3: and it's did you ever think when you started TF
• 11:19
  Speaker 3: Metals report sixteen years ago you're at it now that
• 11:25
  Speaker 3: things would get to this point.
• 11:27
  Speaker 5: It's crazy, isn't it. You just even think this year? Yeah, okay,
• 11:33
  Speaker 5: I mean you think back the first of January. Maduro
• 11:37
  Speaker 5: is still running Venezuela, right, yeah, you know, so who
• 11:42
  Speaker 5: knows what the back happen, you know, the last five
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  Speaker 5: months this year I'll have in store for us.
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  Speaker 4: But yeah, the Iran thing is a real.
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  Speaker 5: Conundrum at this point because it's difficult to see it's
• 11:55
  Speaker 5: just certainly not going. I don't think how Trump and
• 11:58
  Speaker 5: his team thought it would go, and they launched it
• 12:00
  Speaker 5: in March, and it's almost kind of having the the
• 12:04
  Speaker 5: opposite effect of what they had hoped. I mean, maybe
• 12:07
  Speaker 5: I could knock back the nuclear program and all that stuff,
• 12:10
  Speaker 5: but there was no talk of tolls to get through
• 12:13
  Speaker 5: the straight to horror moves, you know, back in February,
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  Speaker 5: and now all of a sudden, that seems like that's
• 12:19
  Speaker 5: a negotiating point to you know, to get out of it.
• 12:23
  Speaker 5: So its very it's a very and what does that
• 12:27
  Speaker 5: do to the notion of the US, you know, is
• 12:30
  Speaker 5: this unipolar superpower going forward? You know, it's almost like
• 12:36
  Speaker 5: disciplining your kids or something, you know, when you're in
• 12:39
  Speaker 5: the superpower. It's so it's the threat that you can
• 12:42
  Speaker 5: do something, you know, the fine, yeah, and then all
• 12:48
  Speaker 5: of a sudden when you act and the kid goes, well,
• 12:52
  Speaker 5: that wasn't so bad. I was grounded, but I don't care.
• 12:54
  Speaker 5: Sometimes you're gonna have the opposite effect, you know. And
• 12:56
  Speaker 5: so the threat that the US could step in and
• 13:00
  Speaker 5: squash you'r on and do all these kind of things
• 13:03
  Speaker 5: held sway for forty some odd years, and now a sudden,
• 13:06
  Speaker 5: you know, what's left of the Iranian leadership would be like,
• 13:08
  Speaker 5: oh god, we can take this is no big deal.
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  Speaker 2: Will to a point, to a point.
• 13:15
  Speaker 5: But it'll be interesting see how this restructures and reorders
• 13:18
  Speaker 5: things in the years to come, because this will have
• 13:24
  Speaker 5: long term effect and so you know, in the short
• 13:26
  Speaker 5: term deal carry I mean, we should be sure to
• 13:28
  Speaker 5: mention though that gold started to rally last week when
• 13:33
  Speaker 5: the announcement was made that the Department of Treasury and
• 13:37
  Speaker 5: FED are going to be working with the Bank of
• 13:39
  Speaker 5: Japan to support the end that you can phrase it
• 13:46
  Speaker 5: any number of different ways, but they are in a
• 13:50
  Speaker 5: sense trying to keep the plates spinning, adding liquidity in
• 13:54
  Speaker 5: certain places. And the realization that hit the precious metals
• 13:59
  Speaker 5: markets of oh oh, wait a second, Yeah, all the
• 14:03
  Speaker 5: stuff why we were buying gold the last couple of
• 14:05
  Speaker 5: years is still in play.
• 14:07
  Speaker 4: Yeah, and worse or so now are you more so?
• 14:11
  Speaker 2: Yeah?
• 14:12
  Speaker 4: And so I think that was that's a big development.
• 14:16
  Speaker 5: As we head into the rest of this month and
• 14:18
  Speaker 5: the next and coming you know, tomorrow we got the
• 14:22
  Speaker 5: latest jobs report, but then we'll start to focus on
• 14:24
  Speaker 5: warsh He's going to be out in Jackson Hole at
• 14:27
  Speaker 5: the Jackson Hole Down symposium they have with all the
• 14:31
  Speaker 5: all the other central bankers in the world. That'll be
• 14:34
  Speaker 5: in a couple of weeks, and then the September FOMC
• 14:38
  Speaker 5: and we get into you know, it's kind of a
• 14:40
  Speaker 5: always kind of a dicey period for the stock market.
• 14:43
  Speaker 5: As we get into September and October, people get a
• 14:44
  Speaker 5: little nervous.
• 14:45
  Speaker 2: So I have this.
• 14:47
  Speaker 4: We're not done with this year yet.
• 14:49
  Speaker 2: In it got so much has happened during this year. Yeah.
• 14:53
  Speaker 2: I read an article in.
• 14:54
  Speaker 3: Worsh we Trust and it's like they got to keep
• 14:59
  Speaker 3: the plate spinning, right. Yeah, they have to make it
• 15:02
  Speaker 3: look like they're in control.
• 15:04
  Speaker 2: Even when they're not.
• 15:06
  Speaker 3: And you know, but on the one hand, for the US,
• 15:10
  Speaker 3: it's meant money flowing in because when there's whenever there's
• 15:15
  Speaker 3: wars or or geopolitical unrest, the money flows into the
• 15:21
  Speaker 3: United States just been a rule of thumb. But it's
• 15:24
  Speaker 3: also flowing into precious metals as we see. Yeah you
• 15:30
  Speaker 3: fo yeah, yeah, wildness. So what kind of feedback you're
• 15:35
  Speaker 3: getting from your community on this, Where are they heading?
• 15:40
  Speaker 3: What's their take on things?
• 15:43
  Speaker 2: You know?
• 15:44
  Speaker 5: I thank you for asking me that, because that's one
• 15:47
  Speaker 5: of the coolest things about site. I mean, I do
• 15:50
  Speaker 5: my stuff every day, but it's the interaction between all
• 15:53
  Speaker 5: these really thoughtful and intelligent people on the site that
• 15:57
  Speaker 5: that I just start new threads and they talk about
• 16:00
  Speaker 5: the issues you know, on each one and you can
• 16:03
  Speaker 5: learn someone.
• 16:04
  Speaker 4: They teach me so much. They find so much stuff.
• 16:08
  Speaker 5: The biggest concern right now I think is that what
• 16:10
  Speaker 5: I mentioned earlier that kind of that, what is the
• 16:13
  Speaker 5: long term impact you know, of you can't you can't
• 16:18
  Speaker 5: call an outright failure because that means that there were
• 16:21
  Speaker 5: defined subjectives.
• 16:22
  Speaker 4: That didn't get met.
• 16:23
  Speaker 5: And I think if one of the defined objectives of
• 16:26
  Speaker 5: this war was to knock back you know, the nuclear
• 16:30
  Speaker 5: aspirations or whatever whatever they were, I mean, I'm sure
• 16:34
  Speaker 5: they're you know, they've accomplished some. But the long term
• 16:38
  Speaker 5: impact of this, you know, we talked about the petro
• 16:42
  Speaker 5: dollar and the US guaranteeing Saudi Arabia security. If they
• 16:46
  Speaker 5: keep pricing energy and dollars and recycling their dollars into
• 16:50
  Speaker 5: treasuries and all that kind of stuff, it's going to
• 16:54
  Speaker 5: be really an interesting study in the months and years
• 16:58
  Speaker 5: to come to see what the long term impact is
• 17:02
  Speaker 5: of this, because again, it's not like the US proved
• 17:05
  Speaker 5: itself to be impotent in affecting things. But it's not
• 17:10
  Speaker 5: like you'rean folded in seventy two hours either.
• 17:13
  Speaker 2: Yeah.
• 17:13
  Speaker 5: No, And so that that is a topic every day
• 17:18
  Speaker 5: about Okay, where's this war headed, What does this mean
• 17:22
  Speaker 5: for interest rates?
• 17:24
  Speaker 4: What does this mean long term for the dollar?
• 17:26
  Speaker 5: You know that kind of stuff, And that's a topic yeah,
• 17:29
  Speaker 5: everybody's talking about.
• 17:30
  Speaker 2: Yeah, that's for sure.
• 17:33
  Speaker 3: And yeah, the other thing is there's a real information
• 17:37
  Speaker 3: void or vacuum going on about the war.
• 17:40
  Speaker 2: You know.
• 17:41
  Speaker 3: Yeah, it's not like this is totally different than in
• 17:44
  Speaker 3: the past, where you had guys on the ground and
• 17:48
  Speaker 3: they were reporting, whether they were telling you the truth
• 17:50
  Speaker 3: or not. At least you could see it with your
• 17:52
  Speaker 3: own eyes. Here where like you know, where it's like
• 17:57
  Speaker 3: we're at the Mercy of the Stars and Stripes military
• 18:02
  Speaker 3: publication to tell us the truth. And you know, if
• 18:05
  Speaker 3: you remember that movie A Full Metal Jacket, you know
• 18:09
  Speaker 3: their agenda is a little bit different, right.
• 18:11
  Speaker 5: Yeah, right, And how can you verify again, you're fighting
• 18:16
  Speaker 5: at such a closed off country, there's really no way
• 18:19
  Speaker 5: to verify Iranian.
• 18:21
  Speaker 4: Reports or US reports.
• 18:23
  Speaker 5: Well, you know one last thing on this war, Carrie,
• 18:27
  Speaker 5: that I hope people can finally start to connect, you know, theyvesn't.
• 18:32
  Speaker 5: And the Treasury Department came out in the Department of
• 18:36
  Speaker 5: the Energy. What's that guy's name, right, Yeah, Yeah, they
• 18:40
  Speaker 5: were talking in March about using the crude oil market
• 18:44
  Speaker 5: to their advantage, selling crude oil out of the spr
• 18:50
  Speaker 5: at the higher price of the front month because the
• 18:54
  Speaker 5: crude oil market is almost always it seems like in backwardation,
• 18:58
  Speaker 5: where the front month will be eighty dollars that go
• 19:00
  Speaker 5: to seventy five and seventy and sixty five, and so
• 19:04
  Speaker 5: they I mean, you can go back and read this stuff, anybody,
• 19:06
  Speaker 5: it's in it. That is what they said they were
• 19:08
  Speaker 5: going to do because they could buy back because of
• 19:11
  Speaker 5: the backwardation of the board. They could buy back one
• 19:14
  Speaker 5: point two barrels for every one barrel that they were
• 19:17
  Speaker 5: selling in the spot market. Well, okay, they're telling you
• 19:22
  Speaker 5: that they are selling in the nymex and forcing the
• 19:27
  Speaker 5: futures market down right, because there was like, God, I
• 19:31
  Speaker 5: can't believe all this shit's going on in the straits
• 19:33
  Speaker 5: closed crew's only seventy five dollars.
• 19:35
  Speaker 4: Well duh, and so then let's tile that back in.
• 19:40
  Speaker 2: You know.
• 19:40
  Speaker 4: It's like, well, these markets aren't manipulated.
• 19:43
  Speaker 5: Well no, wait a minute, we would think, what is
• 19:46
  Speaker 5: what is q E and all this other stuff?
• 19:49
  Speaker 3: Uh?
• 19:50
  Speaker 5: If not bond market manipulation, what is what you're seeing
• 19:55
  Speaker 5: between the Fed and Treasury working with the Bank of
• 19:57
  Speaker 5: Japan If.
• 19:58
  Speaker 4: Not four x marketmen pipulation?
• 20:01
  Speaker 5: Yeah, we just I just was telling you about cruel
• 20:04
  Speaker 5: market manipulation, So what is it a managed manipulated you know,
• 20:12
  Speaker 5: working the means to an end market anymore.
• 20:15
  Speaker 4: And that's kind of the world we live in.
• 20:18
  Speaker 3: Hey, remember I think it was Chris Powell who said
• 20:21
  Speaker 3: we no longer live in a system of markets. We're
• 20:26
  Speaker 3: in the system of interventions.
• 20:28
  Speaker 4: Yep, right, right, right, I no doubt about true.
• 20:32
  Speaker 5: And now look there are people you can make this argument,
• 20:37
  Speaker 5: you know, and sayom's a good thing too. You know,
• 20:41
  Speaker 5: it's good that you know, they're keeping the crui price down.
• 20:45
  Speaker 5: It's good they're keeping the stock market up with all
• 20:47
  Speaker 5: this extra liquidity and all that kind of stuff. But uh,
• 20:50
  Speaker 5: so far there hasn't necessarily been hell to pay for it.
• 20:55
  Speaker 5: So you make case so that's okay that they've done it,
• 20:57
  Speaker 5: that you know that that this happens. But you know,
• 20:59
  Speaker 5: the people are better fitting from you know, higher stock
• 21:02
  Speaker 5: prices and stuff.
• 21:02
  Speaker 4: But goodness, it certainly seems the.
• 21:05
  Speaker 5: Kind of the opposite of of free markets and capitalism
• 21:10
  Speaker 5: and everything else.
• 21:13
  Speaker 4: That we're living in.
• 21:14
  Speaker 3: Yeah, and we really you know, we were raised on
• 21:18
  Speaker 3: the free markets capitalism, and you know, we have anything else.
• 21:23
  Speaker 3: But but the people trying to come in are like
• 21:27
  Speaker 3: the worst nightmare. I don't want to get into the politics.
• 21:30
  Speaker 3: I'm looking at more at their economic inclinations, like Mamdami.
• 21:36
  Speaker 3: Oh that thing is like, let's take over the supermarkets.
• 21:40
  Speaker 3: So what could possibly go wrong if the city is
• 21:43
  Speaker 3: owning the supermarkets?
• 21:46
  Speaker 2: But you know, like, are.
• 21:48
  Speaker 3: They going to like sell Leader bottles or two Leader
• 21:53
  Speaker 3: bottles of sugary beverages if they're running it, are they
• 21:57
  Speaker 3: going to say, you know, you're looking to fat. You know,
• 22:01
  Speaker 3: we're gonna limit you to a six pack of coke?
• 22:05
  Speaker 2: Right right? Boy?
• 22:07
  Speaker 5: And Carrie, you and I are such old fogies at
• 22:10
  Speaker 5: this point. You know, I remember the markets and the
• 22:13
  Speaker 5: Soviet Union, you had the Eastern Bloc, right, and you're
• 22:16
  Speaker 5: centrally planned economy where you know, there's just a handful
• 22:20
  Speaker 5: of products on the shelves if there's anything, you know,
• 22:23
  Speaker 5: and people waiting in line to buy a loaf of
• 22:24
  Speaker 5: bread and all that kind of stuff. And we're old
• 22:28
  Speaker 5: enough to remember that, and so we know that that
• 22:30
  Speaker 5: doesn't work. It's just these new generation of politicians that
• 22:34
  Speaker 5: are all about.
• 22:34
  Speaker 4: Forty and under.
• 22:36
  Speaker 5: They weren't even born when that stuff was happening, you know,
• 22:40
  Speaker 5: So you know it's it's okay. Sure it's been tried
• 22:44
  Speaker 5: and failed, but it wasn't us that was doing it,
• 22:46
  Speaker 5: and that means that this time it's gonna work.
• 22:48
  Speaker 4: Okay, Yeah, good for you.
• 22:53
  Speaker 3: Yeah yeah, Like it's never worked, it can't work. And
• 22:58
  Speaker 3: like Winston Chill said, democracy is the worst system in
• 23:02
  Speaker 3: the world except for all the others, even though like
• 23:07
  Speaker 3: our judicial system really sucks. Having been a lawyer for
• 23:10
  Speaker 3: a lot of years, it's horrible and it's unfair.
• 23:15
  Speaker 2: And yet you know, I'm in my.
• 23:17
  Speaker 3: Parking lawsuit and you know I still had the right
• 23:21
  Speaker 3: to do it. They might kick part suit. Yeah, it's
• 23:24
  Speaker 3: distinctly possible, but I'll have given them a fight and
• 23:27
  Speaker 3: cost them millions of taxpayer dollars in the process.
• 23:32
  Speaker 5: And at least as far as we know, no one's
• 23:34
  Speaker 5: like going to come because you're fighting the government that
• 23:38
  Speaker 5: you know, they're not going to show up at your
• 23:39
  Speaker 5: door at two am and lead you away to some
• 23:41
  Speaker 5: secret prison and no one's and we'll be like, whatever
• 23:44
  Speaker 5: happened to carry lots?
• 23:45
  Speaker 2: Yeah, I don't know.
• 23:47
  Speaker 3: They might tow my car at the worst there exactly,
• 23:51
  Speaker 3: you know, the worst possible thing that in case you
• 23:53
  Speaker 3: aren't familiar, this is this is the book America's Great
• 23:57
  Speaker 3: Parking Scam. You've been robbed and I'm actually making some
• 24:01
  Speaker 3: good headway on the case. I honestly expected it to
• 24:05
  Speaker 3: get kicked.
• 24:06
  Speaker 2: Long before this.
• 24:08
  Speaker 3: But we have Judge Eileen Cannon of Trump Case Fame
• 24:12
  Speaker 3: on the case. Now cool, Yeah, and she's like, forget
• 24:18
  Speaker 3: everything you've ever heard in the media about the lady.
• 24:21
  Speaker 3: Just tough judge. She doesn't let anybody slide on anything.
• 24:26
  Speaker 3: All rules apply equally, and you know nobody gets a
• 24:31
  Speaker 3: free pass from that lady. And you know she believes
• 24:35
  Speaker 3: the law should be enforced as it's written, not as
• 24:39
  Speaker 3: you think it should be. I mean, I mean, look,
• 24:43
  Speaker 3: I decided if I can get some settlement out of
• 24:46
  Speaker 3: this case and then go after New York City's Alternate
• 24:49
  Speaker 3: Side of the Street parking, which basically is a seventy
• 24:53
  Speaker 3: five year old scam that completely violates all federal and
• 24:57
  Speaker 3: state laws.
• 24:59
  Speaker 2: But it's the guy it They could do what they want.
• 25:01
  Speaker 2: My whole purpose is, hey.
• 25:03
  Speaker 3: You you are aggressively enforcing the parking laws against us,
• 25:09
  Speaker 3: the motoring public. Let's see you obey the law too
• 25:13
  Speaker 3: before you go. You know, obey the same law that
• 25:17
  Speaker 3: you are enforcing against us against yourselves. Let's see you
• 25:22
  Speaker 3: obey the law. And that's my whole point, you know.
• 25:25
  Speaker 3: And actually there was an article in the industry trade
• 25:29
  Speaker 3: rag called Parkingtoday dot.
• 25:31
  Speaker 4: Com trade rage.
• 25:33
  Speaker 3: They believe it because because it's a grift. Man, it's
• 25:37
  Speaker 3: a multi billion dollar grift. New York City pulled in
• 25:41
  Speaker 3: like over a billion dollars in parking tickets last year
• 25:45
  Speaker 3: and that's the granddaddy. But it's every state has created
• 25:48
  Speaker 3: a paywall at the curb and they're all scamming us.
• 25:52
  Speaker 3: But I didn't mean to get into that, but at
• 25:54
  Speaker 3: this point they you know, it's been fun. I had
• 25:59
  Speaker 3: my Perry Mason moment the first time in my legal career.
• 26:03
  Speaker 2: I'm there in.
• 26:04
  Speaker 3: The courthouse before Judge Cannon. It's me and there's twelve
• 26:08
  Speaker 3: lawyers sitting at the defense table, and the judge really
• 26:13
  Speaker 3: grills me, and they're thinking, oh, he doesn't have a chance,
• 26:16
  Speaker 3: and they lead attorney for the municipalities says that basically,
• 26:24
  Speaker 3: parking signs are not traffic control devices. And I just
• 26:28
  Speaker 3: so happened to have had a copy of this book
• 26:31
  Speaker 3: called the MUTCD, which governs every sign, pavement marching, everything
• 26:38
  Speaker 3: in the on the highways, every road open to the public,
• 26:43
  Speaker 3: whether it's private or not. And she gets done, and
• 26:46
  Speaker 3: the judge Cannon says, mister Lutz, do you have anything
• 26:49
  Speaker 3: else to add?
• 26:50
  Speaker 2: And I said, yes, your honor.
• 26:52
  Speaker 3: I held open the book and I said, look, there
• 26:55
  Speaker 3: are dozens of parking signs in this book, you know,
• 27:01
  Speaker 3: and their traffic control devices. It's the manual on uniform
• 27:05
  Speaker 3: traffic control devices. It's the Bible of the highway. And
• 27:10
  Speaker 3: it was like, man, it was a Perry Mason moment.
• 27:14
  Speaker 5: It's like like something you see on Netflix.
• 27:17
  Speaker 2: Yeah.
• 27:18
  Speaker 3: Well, the only thing that would have been better is
• 27:20
  Speaker 3: if the attorney broke down and started crying and said, yes,
• 27:25
  Speaker 3: your honor, I confess I murdered free parking, but please
• 27:29
  Speaker 3: forgive me. You know, it's like when I was practicing,
• 27:33
  Speaker 3: I never had one of those before.
• 27:35
  Speaker 2: That's what, man. She just took me for an idiot.
• 27:38
  Speaker 2: And I didn't even make it a secret.
• 27:40
  Speaker 3: The book was sitting on the table out in the
• 27:43
  Speaker 3: open next to me, and she's still you know, I
• 27:46
  Speaker 3: never saw anything like it, and I'm thinking, man, she's
• 27:49
  Speaker 3: to this day, she's going over in her mind.
• 27:52
  Speaker 2: I can't believe I said that. But they're all locked
• 27:55
  Speaker 2: in now, so anyway, nothing that's awesome. Yeah it was me.
• 27:59
  Speaker 5: Now what you need now to make us into a
• 28:02
  Speaker 5: Netflix series? You need like a smoking hot assistant counsel.
• 28:08
  Speaker 4: You need like the fact Finder guy. You know that
• 28:12
  Speaker 4: it's a little shady background.
• 28:14
  Speaker 5: You know who's out there's a PI scraping into things.
• 28:17
  Speaker 4: And I think you got I think you could sell that.
• 28:20
  Speaker 2: Hey say that if I can get a hot looking
• 28:23
  Speaker 2: meter maid.
• 28:24
  Speaker 3: You know, she's like in shorts and a crop top
• 28:28
  Speaker 3: with a capron, and she's got her little terminal there
• 28:32
  Speaker 3: and she's just giving everybody tickets regardless of whether they're
• 28:36
  Speaker 3: parked legally or not.
• 28:38
  Speaker 4: Right, And then you're kind of I think we got something.
• 28:41
  Speaker 4: You're working to turn her on the side.
• 28:43
  Speaker 5: We kind of become stairus evidence working with her and
• 28:46
  Speaker 5: secretly having dinner with her and stuff.
• 28:48
  Speaker 4: Yeah, I like you're onto something. I like it.
• 28:51
  Speaker 2: I like it.
• 28:51
  Speaker 3: Unfortunately I haven't seen any of them in Florida. You know,
• 28:55
  Speaker 3: they're like very reptitious when they're writing tickets. Car they
• 29:01
  Speaker 3: write the ticket, they hop out real fast, soot it
• 29:04
  Speaker 3: under your wiper blade and they take off to avoid
• 29:07
  Speaker 3: confrontations and everybody hates this system.
• 29:11
  Speaker 2: Everyone hates it. And I should just mentioned before.
• 29:15
  Speaker 3: That we also just published this book, the all New
• 29:18
  Speaker 3: Speeders Guide to Avoiding Tickets based on what it prolific.
• 29:24
  Speaker 3: I like it Speedersguide dot com. Just go there and
• 29:30
  Speaker 3: the book is cool from over one hundred traffic stops
• 29:34
  Speaker 3: that I encountered in the fifty plus years and talking
• 29:38
  Speaker 3: my way out of most of the tickets and techniques
• 29:42
  Speaker 3: and all that good stuff. So hey, so make sure
• 29:45
  Speaker 3: you guys go over there to tf metals report dot
• 29:50
  Speaker 3: com subscribe. It's less than the cost of a latte
• 29:56
  Speaker 3: per day. I changed my drink, you know, I hacked Starbuck.
• 30:00
  Speaker 3: I changed my drunk around almost exactly the same drink.
• 30:04
  Speaker 3: But it's two bucks less than it was when I
• 30:08
  Speaker 3: ordered less, when I ordered off the menu. It's two
• 30:11
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• 30:13
  Speaker 2: How about fifty yeah, two bucks a day.
• 30:17
  Speaker 5: That buy you and somebody else a TF metals Report
• 30:22
  Speaker 5: subscription forty bucks.
• 30:24
  Speaker 3: If anybody out there can't afford to sign up for
• 30:28
  Speaker 3: TF metals, you know, you send me an email kl
• 30:32
  Speaker 3: at kerrie lets dot com.
• 30:33
  Speaker 2: I will pay your price of admission for the next
• 30:37
  Speaker 2: six months. All right, Very nice? Of you. Gary, Hey, man,
• 30:42
  Speaker 2: it's valuable. I think you get a lot out of it.
• 30:45
  Speaker 3: If you can't afford my sub stack, let me know,
• 30:48
  Speaker 3: we'll give you a little scholarship there.
• 30:50
  Speaker 2: And it's you man.
• 30:51
  Speaker 3: We're writing cutting edge material that the mainstream media just ignores,
• 30:57
  Speaker 3: they're completely oblivious to, because is the purpose of the
• 31:01
  Speaker 3: mainstream media now. It used to be to connect the
• 31:04
  Speaker 3: dots like Woodward and Bernstein. Now their purpose is to
• 31:08
  Speaker 3: disconnect the dots, to treat every event as a single,
• 31:13
  Speaker 3: singular event that has no impact and no reflection on
• 31:16
  Speaker 3: anything else. And people and then drama.
• 31:20
  Speaker 2: They sell drama.
• 31:21
  Speaker 5: Then you get distracted by the next one without ever
• 31:24
  Speaker 5: coming back and.
• 31:24
  Speaker 2: Putting it all back together.
• 31:27
  Speaker 4: And by the way, there you apology.
• 31:28
  Speaker 5: I must be having some kind of allergic reactions. My
• 31:30
  Speaker 5: nose is so itchy and now I'm starting to sneeze.
• 31:33
  Speaker 5: So I've been a bad guest.
• 31:35
  Speaker 2: All I know what happened.
• 31:37
  Speaker 3: You looked at the price of gold and silver and
• 31:40
  Speaker 3: they started going down and you had reaction.
• 31:44
  Speaker 2: All right, Hey, it's great to talk to you.
• 31:46
  Speaker 3: Get TF Metals Report dot com, Financial Survival Network dot
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  Speaker 3: com and go tune in and Craig we'll talk to
• 31:55
  Speaker 3: you in a little bit.
• 31:55
  Speaker 1: Thanks Carrie, thanks for listening to carry Letz's Financial Survival Network,
• 32:00
  Speaker 1: your solution to today's trying times. For the latest, go
• 32:04
  Speaker 1: to Financial Survivalnetwork dot com. Financial Survival Network now more
• 32:10
  Speaker 1: than ever,