Latest / Financial Survival Network / The World According to Martin Armstrong - #5967

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The World According to Martin Armstrong - #5967 · Financial Survival Network

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What you have to understand here is that we have in twenty twenty four an
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awful lot of problems politically around the world, and that sort of uncertainty is
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what provides the underlying base for gold. And I mean just look at New
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York City. It's an absolute disaster. You've got rats were actually running around
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openly on the streets. It's a lot of criminals. Yeah, I mean,
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they've cut the police spending down by five point six billion dollars. You're
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listening to Carrie let'sa's Financial Survival Network where you get valuable information you just can't
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Network now more than ever. Go to Financial Survivalnetwork dot com and get your
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free newsletter and gift. Financial Survival Network now more than ever. And welcome.
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You are listening to and watching the Financial Survival Network. And I'm Kerrie
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Lut's your host. It's December eighth. We've got one of your most favorite
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popular guests, hunt Martin Armstrong. We're going to change things a little bit.
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Of all the guests I have on Marty, you by far receive the
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most questions. I try to ask them, but sometimes I miss them and
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then people get upset with me. So I decided we're going to change it
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up a little bit. We're just going to do a Q and A from
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many of our listeners out there, and then I got a couple for you.
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But we're going to start off with this one and from my friend from
1:38
the land down under. Please ask mister Armstrong to give his interpretation of what
1:44
the US debt clock is trying to convey. He has a picture attached.
1:49
We're not going to bother with that, but it shows a dollar supply at
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a negative number but still diminishing, and links it to the dollar silver gold
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ratio. What's going on in that situation? Thanks in advance? Well,
2:04
I mean the real value of gold. It goes up, like for example,
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gold at bottomed in nineteen seventy six one hundred dollars. It rose about
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four hundred by December seventy nine, but the last six weeks it went from
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four hundred to eighty seventy five. Why because that's when Russia invaded Afghanistan.
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The real mover of gold is not inflation or you know this this kind of
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propaganda all the time. It's when confidence in government collapses. That's what we're
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really facing at this point. Twenty twenty four is going to be the year
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from political hell. It's not just the US. I mean you look around.
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You've got elections everywhere. Russia, the head of the EU is up,
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but you got British elections coming. I mean it's like you're going to
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take whatever politics there is, put it in a jar, shake it and
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you know, and pour it out. It's just crazy everywhere. Yeah,
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yeah, and we're gonna I got a question for you later about the Argentine
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election here. Next question is China seems to be trends more grafying or more
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graphing into an Asian tacatopia, which I think means dystopia if my bookb serves
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me correct. Question by twenty thirty two, is China going to look like
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a technocratic empire worse than an Orwellian Big Brother nightmare? Is truth going to
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end up more stranger and more dangerous than fiction? No? Not really.
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What we're what are computer is showing. Oh yeah, you just shut that
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thing off. What our computers are actually showing is that for twenty thirty two,
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we're looking at all government mints basically changing, and that that applies to
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China as well. So it's not that I mean a lot of the propaganda
4:09
about China. I mean I can tell you most of the actual problems there.
4:16
With the banking et cetera. China warned its provinces and the banks not
4:24
to borrow in dollars they were doing. Soca's interest rates were cheap, and
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they said, do not do that. They did not act as an authoritarian.
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They probably should have, and just think we outlawed it, but they
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didn't. So that's why you have banks failing, et cetera. But you
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know, the people in China are not about to go back to communism or
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anything like that. The same thing in Russia. They've all had enough of
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that stuff and once you give them a taste of freedom. I mean,
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there's a lot of billionaires in both Russia and China. They're not communists anymore.
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I was talking along, you know, congressman, and he says,
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oh, you know, China's communists. I said, you understand what communism
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even is. You know, the government owns every day. I said,
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you know, it's a it's a question of saving face. You know,
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they still call it the communist party, that's not communism. But if they
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changed the name of the party, then they'd have to take down the picture
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of mal you know, and wrong and take them all the money too,
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right, yeah, you want it would be a major psychological announcement that sorry,
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for fifty some years we were wrong. So it's just opened up.
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I mean, you people from freely travel and you got private ownership and everything,
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and it's they just kept the name. That's it. But you know,
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you're looking at China's economy got into a lot of trouble, mainly because
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they went very draconian with the whole COVID stuff. Uh, you know,
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locking people down. And when you do that, the the GDP collapses.
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People can't go to work. Uh you have uh, you know a portion
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of the class that that have lost their homes because they couldn't work and they
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couldn't make payments. You know. So a lot of these politicians, not
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just in China but also throughout America and Europe are beginning to realize what they
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did was serious. Uh. And then you and I warned about it too.
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Yeah. Look, it's you know, the inflation we have here is
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because of shortages. It's not speculation. So raising interest rates is not going
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to make you know, going to make it rain or anything else. It's
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uh, that's why the Fed's kind of like in a between a rock and
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a hard place. I mean it can it sees the inflation, yes,
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and then you can manipulate the CPI down to pretend it's not there. But
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the reality is is that you still go to stores. And I just went
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to the store the other day and there were stuff that wasn't there. Yeah,
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I see it, I see it. And what is there is being
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shoplifted in places like La and San Francisco. You know. I went into
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a CVS. I was out in La and everything was under lock and key.
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I wanted a bottle of eye drops. They were like twenty bucks.
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I had to wait fifteen minutes for a salesperson to come. I went to
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the same CVS down the street from me in Florida. All the racks are
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open. You can get almost whatever you want there. They have locked up
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some high value items. I will say that when I was able to get
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the same drops pick them up myself. No greater contrast than that of next
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question, how far will dold fall in this cycle? Some are predicting a
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drop of fourteen fifty to fifteen hundred US before really taking off timeframe us how
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far is it going to drop? Will it go to fourteen fifty to fifteen
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hundred in what time frame? That's a bit extreme, But what we're really
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looking at is I'm hoping to see a pullback in gold going into January.
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We were only talking basically a few weeks ahead. If we get a low
8:22
in January, then gold would be in a position to rise for most of
8:26
the year. If you get a new high end January, then it's the
8:28
opposite. But what you have to understand here is that we have in twenty
8:35
twenty four an awful lot of problems politically around the world, and that sort
8:41
of uncertainty is what provides the underlying base for gold. And I mean,
8:46
just look at New York City. It's an absolute disaster. You've got rats
8:52
were actually running around openly on the streets. It's a lot of criminals.
8:58
Yeah, I mean they've cut the police spending go down by five point six
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billion dollars and they go, oh, well, we're going to tax congestion
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and cars driving around to clean the air. Meanwhile, they cut the budget
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for sanitation, so you get clean air, but dirty streets, and there's
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no congestion anymore because nobody's working in the place. The buildings are more than
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half empty. I think a third are occupied now and twenty percent of the
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space is vacant, but the rest of it is just on Karen maintenance.
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All right, And this ties in with the next question. You answered the
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other question about precious metals when they'll start moving, So we need to look
9:41
for January whether it makes a new high or low. If we carry the
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trend now, it looks like it could be hitting a low there. But
9:50
Martin, you moved to Florida because your models said it would be the best
9:54
state going forward. People are moving to Florida in Texas. But what five
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states did your mom? I'll say will fare the best in the coming years.
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And he says we need multiple state choices instead of simply reciting the states
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we are all moving to. We're going to publish a report on that and
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do a more detailed look because we get an awful lot of people that want
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to know. Florida is still number one, I can tell you, mainly
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because Texas is getting inundated with all the illegal aliens moving across and even places
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like Austin and things like this that used to be really nice. You're starting
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to get you know, rising crime and things of that nature. And I
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was just out and Austin. A lot of them said, you, I
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think I'm going to move to Florida now. And I said, well,
10:50
jig bo, go to the east coast place. You know, I mean
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the traffics, you're already doubled here. I mean it's to get to Florida.
10:58
They get to swim. Yeah. I Ten is about the worst interstate
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highway on the planet, and that's what connects Texas and Florida eventually. Yeah.
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And that's a follow up to that to which five countries did your model
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say would fare the best going ahead? Uh? Short term, basically,
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it's still largely than in the United States. What you have to understand is,
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I know a lot of people get you know, worked up over the
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debt and things of this nature, but we also have the largest economy.
11:35
And the main issue is is that we our economy is a consumer based economy.
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Compare it to Germany. Germany is a mercantile type. In other words,
11:48
they manufacture things and want to sell it to somebody. Else. You
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look at the net worth of the average German, it's less than an Italian
11:58
because they keep your taxes very high, afraid of inflation, things of that
12:01
nature. So they really suppressed their own people. And that mercantile model was
12:07
is like from the eighteen hundreds. You know. In contrast, China has
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looked at both models, and if you pay attention, you will see China
12:18
is trying to mimic the consumer based from the United States. They understand what
12:24
made the United States the biggest economy in the world, and that was the
12:28
whole issue. So China is trying to develop its own consumer based economy,
12:35
you know, this soak road, things of this nature, and so US
12:43
is still number one. Mexico is actually you know, pretty you know,
12:50
it's been pretty interesting to a lot of people because they did not do the
12:56
the draconian COVID lot down stuff. A lot of people went there mainly because
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they didn't have to be vaccinated to go for a simple vacation. Uh.
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And so you have an awful lot of people also moving towards Mexico, and
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so I think you know, you also, you know, you have others
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going down to like Uruguay and you're beginning to see, like, you know,
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Argentina overthrowing the left. You're saying the same thing down in Brazil,
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So there is a shift. I mean, you've had this leftist idea in
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South America for such a long time and it's done nothing but suppress the people.
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I mean, Argentina used to be one of the richest countries in the
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world. Don't realize that turn of the century. Yeah, yeah, I
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mean then in comes the Commune stuff, the Marxist agenda, and they basically
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wiped out the economy and people have never advanced since. Yeah, and only
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the buildings. The architecture is magnificent there and Buenosari's, but they're living off
14:16
their capital from one hundred years ago. So as long as you raised Argentina,
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I'd have a question for you. With the Millie's avowal to eliminate the
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central bank, and I guess to dollarize the economy, is it going to
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work? And in this day and age we truly control monetary growth and actually
14:45
make an economy grow. No, I mean I just did a piece on
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that. Pegging to the dollar is not going to be a great idea because
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what when you peg it's different than a fixed exchange rate, for example in
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the Bretton Woods to his sixt exchange rate. But you didn't import influences from
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other countries. When you peg a currency like to the dour. If the
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Doer raises, you know, we raise interest rates, they're raised there as
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well. If we have inflation, it's immediately exported to them hostage. They're
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held hostage. Yeah, it's not the same thing. And a lot of
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these politicians they don't really understand there. You know, there are three monetary
15:37
systems, sixth rate, pegging, and a floating rate. Milton Friedman's idea
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of a floating rate, which you've first raised in nineteen fifty three, was
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that it would be a check in balance against the politicians. You know,
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I knew, Milton, you know personally. I mean, I think the
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problem with it is that the assumption that the politicians would actually ever be responsible
16:07
and is kind of a not realistic. I mean, this is why the
16:15
FED in trouble if the FED raises interest rates. Back in the thirties,
16:22
the US government had to balance budget. So the idea, okay, fine,
16:27
we can raise interest rates to affect demand or lower them, and we
16:33
were the demand. But now the government is the biggest borrower in the system.
16:37
If the Fed raises interest rates to get us to stop spending so much,
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it has it only increased the suspending government. No politicians goes down OLG.
16:48
The Fed raised interest rates so they wanted to spend less. Let's cut
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the budget and will never happen. But yeah, this is my own personal
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favorite question, and we got probably fifty or sixty, but we can't go
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through all of them. Also, could you ask Martin if he has studied
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specifically the cycle of moral corruption as a as a social phenomena. Are we
17:15
anywhere near the top or do we have room to grow to new heights?
17:19
Here in Europe? Seems like they are empty to this does first language.
17:25
They empty the gates of They opened the gates of hell, and no single
17:29
evil has remained down. This is part of why civilization collapses at the end.
17:41
You get this complete corruption because you know, government is keep trying to
17:48
survive and as a result, it just you know, it just it just
17:55
basically is like a cancer to eat of them apart. I mean, take
17:59
like what they did the Trump in New York, all right, saying that
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oh he overvalued his assets all right to get and he had a disclaimer,
18:11
don't rely on my numbers. It's a guest in it. Yeah, But
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the point is is that it's so absurd. You go to a bank,
18:21
the bank has its own appraisers. You can put me on whatever you think
18:25
it is. The bank's going to say, well, we think it's only
18:29
this. So what they're doing to Trump it's saying, well, we think
18:33
the value should have been this, even though you paid off the loan doesn't
18:37
matter, all right. The problem is once you create that precedent, they
18:42
can go down the line and start going after every company in New York City,
18:47
every company on the big board. Everybody puts values down. Yeah,
18:52
there's a cost basis, but then there's a market basis. And the bank
18:57
doesn't want to know what you pay for Trump Tower thirty years ago when they're
19:02
going to collateralize it. They want to know what it's worth today. So
19:06
give them a number. They're going to get an appraiser to come up with
19:10
a number, or their MBAs will do a spreadsheet and then you like haggle
19:17
and then you agree on a value. And that's the way these loans take
19:21
place. So they valuedd it less than half what he did, they still
19:25
made the loan, so obviously they weren't relying on any purported false representation.
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I'm going back to my days as a lawyer, and there's no damage.
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But sometimes it doesn't matter if there's damage or not. If there's fraud,
19:40
you don't want it in the system. But nonetheless, specifically, they were
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not relying on this anyway. So the moral corruption cycle, is there any
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limit to it? When does it crash? When society no? I mean,
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we're starting to get into the crash mode. You take this twenty twenty
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four election we have here in the States. I don't care who wins either
20:07
side, they're both going to say it's rigged. So you're looking at a
20:14
situation now where this this election in particular, it's just not going to be
20:22
accepted by either side. Doesn't matter. You had yellow restarting it back in
20:27
twenty sixteen, Oh Putin and Putin? Did I really won? All this
20:32
other kind of stuff, and then you know twenty twenty election. I mean,
20:37
this it's just building. You can see it. So I mean for
20:41
the United States, for the Biden administration to even allow these these lawsuits against
20:49
Trump, it shows you something is significant. Normally, you charge somebody like
20:56
that, their credibility goes down. Yeah, this is going up. He's
21:02
forty seven percent higher than any other Republican on the field. So that is
21:10
kind of showing you the collapse and confidence in government itself. Then you had
21:17
Argentina, you know, say oh, well that's a good idea, we
21:19
should criminally charge my opponent. Brazil tried the same thing with b you know,
21:26
bars Andoa. But I mean, you end up in a situation once
21:30
you do that, there is no there's no going back. It's the same
21:37
thing you know, they were they had to go and impeach Trump. Okay,
21:42
far don't you realize. Okay, you do that, when it's your
21:47
turn, they're going to come after you for the same thing. You know,
21:51
so they're going after Biden. I mean to me, it's just an
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I've worked on Capitol Hill. I can't imagine how stupid these people really are.
22:02
They'd really think we'll will impeach Trump. They just look at that immediate
22:07
election. They don't look at what that means long term. You start doing
22:12
this, the other side are going to start doing it. It's that's just
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that's Washington. Yeah, you know, Mark Twain said truth is stranger than
22:22
fiction. Fiction is limited by the imagination, and truth isn't. And that's
22:29
a third classic example. So here along those lines, this is a good
22:33
question too. History has proven the power corrupts from the fifth grade all monitor
22:40
to the pope. As long as humans are in the equation, how will
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we ever find an equitable and fair system? Kim wrote that, And I
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would just point out that once upon a time, the US system was born
22:53
from exactly what they're saying there, and we had a relatively I don't want
23:00
to say it wasn't perfect by any stretch, but it functioned, and it
23:03
functioned for the benefit of most people as long as you weren't in an excluded
23:08
class like slaves. Well, even then you have to understand, if you
23:15
really look at even the slavery issue, it began really with Britain trying to
23:22
make money, and if you stole an apple, they would basically say,
23:26
okay, fine, you got five years and they would sell you to a
23:30
plantation in America. Yeah, all right, They put you in an auto
23:34
ship, send you over here, and that was your sentence. You didn't
23:38
sit in a jail cell, and that was basically that's what the Constitution outlaws,
23:45
and that your servitude, right. But and you had Ben Franklin saying,
23:51
how would you like it if we picked up our rattlesnakes, put them
23:55
in a bag and sent them to you. So it was actually after the
24:00
American Revolution that the Dutch started bringing the Africans over because Britain was still doing
24:08
the same thing, you know, with its so called criminals. But that's
24:15
when Australia became the penal colony, right, so the American wasn't taking the
24:21
criminals from Britain anymore, so they you know, they shipped them off to
24:25
Australia. But all this even if you look at the the interesting thing about
24:34
slavery is before eighteen fifty five, congressmen they never got a salary. They
24:45
got to you know, they were paid on a per diem basis. That
24:48
was it, and they know what he meant for maybe a few weeks of
24:51
the year. So in eighteen fifty five the whole issue over slavery began,
24:57
and to get people to vote in their favor against slavery in Kansas, etc.
25:06
They promised annual salaries to the politicians. So the first annual salary starts
25:14
in eighteen fifty five. It's been downhill ever since. Absolutely once they're there,
25:18
that's the problem. I mean, I've investigated many different types of governments,
25:26
and I would say the best one I ever encountered was the city of
25:33
Genoa. It had the rich basically were the rulers. But what it was
25:42
was very interesting, and the does are like president would be appointed and after
25:52
that that family couldn't be the doze again, all right, for like about
25:56
twenty five years or so, so they would never because it wasn't a permanent
26:03
position. They would be the doze for up to two years and then have
26:07
to return, so they would never pass a law against themselves. And so
26:14
everything was more or less legitimate at that time. And it's only with Marxism
26:21
where you get into this rich versus poor stuff. As long as the general
26:26
law basically was looking at it from a competitive standpoint against Venice and Florence,
26:33
everybody benefited. It wasn't class warfare. It was warfare general against Florence,
26:41
and so everybody in the whole city benefited. But the whole the real key
26:48
was that these there were term limits. That was it one time in and
26:52
out, and you can't come back, and that family would not be you
26:56
know, we would have to get into Q again. You know, they
27:00
say that the United States Senate is the most exclusive nursing home in the world,
27:06
right, Oh, pretty much? Yeah, I mean it's I mean,
27:11
I mean I knew Arlen Spector who basically did the magic bullet theory on
27:18
Kennedy. They lived a few doors away from me when I was back in
27:22
Jersey, and I just remember, you know, him talking about the Middle
27:26
East. All these guys are dictators, they've been there for thirty five years.
27:30
So I turned to Ireland. I said, isn't that about it?
27:32
As long as you've been in the Senate too. Yeah, well you know
27:37
I was elected, I will so were they. Yeah, just rigged election
27:42
the same thing. But the whole key is once they're on that side of
27:49
the table and they become our enemy, it's then always against us. The
27:59
key is there has to be term limits, as I saw in general,
28:03
then you're never going to pass a law that you yourself would be it would
28:08
be applied to you in two years. So it was much more responsible and
28:17
was done basically as I said, like to benefit the city against another one.
28:23
And that's what we have to return to once you have any kind of
28:30
a career politician. I mean, and I've dealt with governments around the world,
28:34
and I don't see any difference because once they get in there, it's
28:41
always them against us all the time. It's universal. You got to take
28:45
this central bank digital currency stuff. Why are they pushing it because I've been
28:52
flat out right told, oh, we'll increase our taxation by at least thirty
28:56
five percent, because whatever you paying taxes, they figure there's another twenty five
29:03
percent you didn't tell them about. Yeah, and so that's why they want
29:07
to eliminate cash. If you and your wife go out to dinner and you
29:11
hired the sixteen year old girl next door to watch the kids, then oh
29:17
my god, you paid her. She didn't pay any taxes. How much
29:19
did you give her? Where's our fifty percent? I mean, this is
29:22
what these people think about. This is what they come up dreaming up these
29:26
ideas. All right, so we got one here. Does mister Armstrong have
29:33
any confidence in the Iraqi dinar? That's fat a scam running since the war?
29:40
Right? Yeah? Look, I mean most of these things, like
29:45
he takes the Ukraine, you take all of them. I mean, they're
29:49
they're they're just propped up regimes. At this point, there's no real economy
29:57
that's honest and trust worthy, which is really what is the backing behind the
30:03
currency. You take the Euro. I mean, when they were creating the
30:08
Euro, they even came to me. I sat down with them, and
30:14
they were putting out the propaganda that everybody would be paying the same interest rate.
30:18
And I said, look, that's not going to happen unless you consolidate
30:23
the debts. And I know, you know, because I was negotiating with
30:29
them, and you know, Colwen in Germany knew if he allowed the German
30:36
people to vote, they would voted against it joining the Euro. So he
30:41
put Germany in the Euro. And what he did was he insisted there'd be
30:47
no consolidation of the debt because he felt the Germans would go nuts if you
30:52
were basically absorbing the debt of Greece, in Italy, etc. So that's
31:00
why they told me, look, we just have to get the Euro through
31:04
and we'll worry about the consolidation the debt later. And that was nineteen ninety
31:10
eight. I mean, he's still waiting. We're still waiting exactly. Yeah,
31:15
And that's why the euro, you know, was supposed to destabilize the
31:19
Dour and all this other kind of nonsense can't happen because the fund manager,
31:26
if he's going to invest in Europe, he still has to buy the debt
31:30
of each individual country. And that's no different than you know, looking at
31:37
all the states in the US. Each one has a different credit rating.
31:41
And that's why I said, look, the Euro's not gonna this is not
31:45
going to work, you know. And but they were selling it to people
31:51
like, oh, it's going to you know, de thrown the dour or
31:55
you know, there is no net federal debt for you know, he can't
32:00
pick up the phone and say, yeah, buy me ten billion dollars worth
32:02
of European debt. It can't happen. You got to go, Okay,
32:07
do I want Germany? Do I want Italy? What about France? What
32:09
are they doing? And you're still back on the same issue as like the
32:14
fifty states that we have. Correct, all right, So how do you
32:22
see the relationship between the US dollar and the Swiss frank in the coming years?
32:27
Is it just more of the same pretty much? Yah? I mean,
32:31
Swiss is losing a lot of its foundation and what made Switzerland great most
32:40
people will realize. But I mean when when Hitler came to power, of
32:49
what they did. They passed a law that everybody had to have their bank
32:54
accounts off shore was illegal and it had to be in Germany. And that
32:59
was because of the hyperinflation. Everybody moved money out of the country, et
33:02
cetera. So effectively what Swiss did, that's when they passed their Secrecy Act.
33:13
It was a response to Hitler. And that's what made Switzerland Swiss.
33:21
You know, during wars they were neutral. That was a place that even
33:24
you know, heads this state could have put their money and not worry about.
33:29
And now look at it. It's so they put sanctions on on Russia.
33:34
They confiscated private assets of Russians because this was the agenda. You know.
33:40
Once they did that, they lost their new triality. They lost everything.
33:45
Yeah, all right, will the FD I see default on saving his
33:50
accounts, bank deposits, CDs, et cetera. When the default when the
33:54
US defaults on its treasury notes? If yes, when where do you put
33:59
your money for safe keeping? Well, what you're really looking at is is
34:07
uh, this movement towards the CBDC H and at that point that's when that's
34:15
how you do kind of default. To some degree, I would be concerned.
34:22
I mean, these people are kind of ruthless, and the worse it
34:25
gets for them, the more draconian they will become. I wouldn't put it
34:30
past them from even making it so that, you know, just kind of
34:36
I think what Trudeau did in Canada was a trial balloon for them when he
34:43
when he froze the accounts of anybody that donated to the truckers, not just
34:49
the truckers, but anybody that even donated to them, and so effectively,
34:55
what you could do, and what they've been looking at is that even Christine
35:01
mcguard said there will be controls on it, they could actually, you know,
35:06
simply say well, we don't like Trump and you can't donate any money
35:08
in the Trump you know, and they could do that by saying outlawing buying
35:15
gold. And keep in mind that this is about power. They know the
35:24
system is collapsing and as because of that, they get more and more draconian.
35:34
So the problem with the debt default, all right, you can see
35:44
the stupidity like the Neo cos they're bashing China over Taiwan et cetera. Okay,
35:52
but uh, China is the largest holder of you with debt. They've
35:58
been selling billions every month because they know if we're going to actually go to
36:02
war, as some of these people are out here saying, you know,
36:07
we'll be in war with trying to within five years, they cannot possibly hold
36:13
any US debt. You don't buy the debt of the guy that's that's trying
36:19
to shooting help. That's why I mean that there's just no coherent strategy anymore.
36:29
It's like each little group is just pursuing their own agenda. You got
36:34
the climate zelts out there, who oh, we have to shut down all
36:38
fossil fuels heating, and now they're talking about cutting out uh oh, air
36:44
conditioning causes it. And I really think that they've now created another lab type
36:55
virus that's going after people's pets. There's a sudden, massive, mysterious virus
37:02
that's killing dogs and nobody knows where it came's from. That's crazy, first
37:07
time in history, all right, So it's and it's a respiratory thing the
37:14
same similar to like culds it. So, I mean, look, there's
37:20
nothing that these people is off the table. These climate people, they have
37:28
no idea. You shut off fossil fuels, die off, a mass die
37:35
off. Yeah, and you don't want air conditioning, you don't want heating.
37:40
You know, do you understand how civilization is even functioned? I mean
37:46
you're looking at massive, massive civil unrest and civil wars over this kind of
37:52
stuff. I mean, like I say, these people don't understand I think
37:55
what they're really even saying. You go to some of these several countries,
38:00
if they have no gasoline or something like that, they came and feed their
38:04
families. It is, and there's nobody that seems to be looking at any
38:12
of this stuff. And you had just had John Kerry often Dubai saying that
38:19
air conditioning is your problem, all right, So you want to end all
38:23
the oil so that kills the Middle East there, and now you want to
38:27
say they can't have air air conditioning. I mean, i've you know,
38:30
we have an office in UAE. They can me ninety degrees at midnight.
38:38
And now you don't want any air conditioning and you want to get it,
38:43
you know, kill all energy. I mean you know, hello, you
38:47
think this is the Middle East war, Wait till you see what happens it's
38:52
nuts, really crazy, all right. A couple more questions I think we
38:57
covered, like really a lot of terror ory here here. No, this
39:02
one's a little a little confusing. But if gold was used as an absolute
39:07
basis for currencies, why wouldn't it work once the price is established for gold,
39:12
anytime a government printed currency above its growth and GDP, the currency price
39:17
would adjust downward. In theory, I guess, well, that's exactly what
39:23
happened with Brenton Woods. And they fixed gold at thirty five dollars, but
39:29
they kept printing money. It was actually the Vietnam War that broke Brenton Woods.
39:35
Yeah, doesn't butter the problem with anything a gold standard or fixed exchange
39:43
rate or whatever. The economy is a business cycle. There are times that
39:49
it goes up and then times it goes down, all right, And when
39:53
you go down, the currency rises in purchasing power they call, you know,
39:59
the flight to cash, all right, So and then in a boom,
40:06
you know, the assets are rising and the currency goes down. So
40:09
you can't really fix anything because one you'd have to eliminate the business cycle,
40:15
which is what marsh was trying to do, and you just can't do that.
40:19
It's impossible. It is because weather's involved in it. I mean,
40:24
if there's a shortage, drought and we's going to go up in price,
40:29
it can't be the same price all the time. So you have to understand
40:34
also a lot of these people that talk about going back to a gold standard,
40:37
you have to change the entire political system. How the democrat going to
40:43
be able to run is say we'll voote for me and I'll and I'll give
40:46
you X, Y and z. He can't do that anymore. It's gonna
40:51
where's the food stamp money going to come from? Yeah, it's it's it's
40:55
a lot more complicated than simply go you a gold black currency. It's it's
41:02
never worked. Did they have always failed because there is a business cycle?
41:07
Yeah, all right, and now that we have socialism with Marxism in there,
41:12
they don't know how to run otherwise. All right, last question here.
41:16
I really appreciate your patience with these, but I thought some of them
41:21
were quite good. So, putting aside the fear mongers with their frequent dollar
41:27
apocalypse and sometimes gold hype, at what date should we be holding a very
41:32
minimal amount to no dollars and no US treasuries. Well, I would be
41:40
very concerned about the US treasury side. Okay, stay short term, and
41:46
I would say after, you know, after the elections, after twenty twenty
41:52
four, things are going to get a lot different. It looks like we're
41:58
heading towards war. And my sources have been pretty pretty damn good. Really,
42:07
these people are trying to create war before the election, and the neo
42:12
cons this is their fifteen minutes in the sun. That's why they hate Trump
42:16
so much. Because Trump started immediately firing John Bolton and all these people.
42:22
We didn't go to war when he was president. We had no new wars.
42:27
That must have been a great disappointment to the military industrial complex. Yeah,
42:31
well you had John Bolton immediately. You know when I mean, I
42:36
will say this. I went to dinner at Mari Largo with Trump back in
42:42
March of twenty twenty when he was still president, and I met so many
42:49
you know, heads to stay around the world. He was actually the first
42:52
time he and one of them ever really impressed me. He said that he
42:58
wanted to pull the troops out of Afghanistan because he said he was sick and
43:02
tired of writing letters to families to say your son died for a godden country.
43:09
And his words were, He's just what are we doing there? They've
43:16
been fighting over borders for a thousand years. What difference are we going to
43:21
make now. You had John Bolton immediately come out like, oh my god,
43:27
you know, we can't leave Afghanistan. These people want more all the
43:30
time. If there were ten Russians in Canada, he would advocate invading Canada.
43:37
I don't know what it is with these people. I know some of
43:42
them, and they're just lose normal. They looked normal on the outside,
43:47
but once they start talking right, well, they This theory they have is
43:54
that they talked themselves into like oh, Sadam Hussein was a dictator, and
44:00
Assad and Kadafi and you go into the if we go in and we overthrow
44:07
these people, they think they're going to get a ticker tape parade and the
44:12
people will cheer for being you know, freed. They think this of Russia,
44:17
that the Russians will cheer, you know, if we take out Putin.
44:22
You know, you're they're just complete nuts. And you know you had
44:28
John McCain there at Maidan in Ukraine. Yes, overthrow your government. America
44:34
is behind you will support you. Can you imagine if Putin came to Washington
44:39
and did the same thing overthrow Biden, you know will support you. I
44:45
mean, that would be so outrageous. Nuts it is, It's just completely
44:51
nuts. So, I mean, after twenty four I would be very concerned
44:54
about government debt. The dour is probably still going to remain king up until
45:00
maybe twenty seven, twenty eight, because as war happens, the capital concentrates
45:07
here. But that's also why you see real estates still going crazy. In
45:12
Florida is still going up. Besides, you have the migration from the Blue
45:17
States to the Red States. In addition, I mean, we have offices
45:22
around the world. Everybody knows about Florida, and basically, you know,
45:30
you're looking at a lot of capital still coming in. I spoke to,
45:37
you know, realtors that I know locally, and they say houses that are
45:40
one to five million dollars. People are just paying cash, snapping them up.
45:45
Yeah, there's no mortgage rates. They don't care about that. Yeah,
45:49
go ahead, raise the interest rates. They're trying to get money off
45:52
the grid. That's really what the issue is. So you see, gold
45:58
has been rising, stop market was rising with it. That's what I've been
46:01
telling people. You're understand since twenty eleven, since we started talking. Yeah,
46:08
I mean, you know, I don't know if these people just ever
46:13
looked at charts historically or why. But I mean we put out a chart
46:19
on our site, you know, with the interest rates in the stock market
46:22
during trumpshears. You know, when you know Trump was there, the stock
46:27
market was when they called the Trump rally, but the Fed was raising inter
46:31
strates the whole time. They didn't talk about that. It's you have to
46:37
look at this thing, you know, objectively, and stop with all the
46:40
myths and nonsense. But you know, as I've said before, you know,
46:46
the US government was bankrupt in eighteen ninety six. JP Morgan had to
46:51
lend one hundred million in goald to bail it out. By World War one,
46:54
US was already the financial capital world. By World War two, we
46:59
ended up with seventy six percent of the world gold reserves. Why it was
47:02
World War one and two they sent all the money here. You know,
47:07
you got tanks going down the streets, blowing up banks. You're not going
47:09
to leave your money there. Appaholt was flight. It was the same thing
47:14
that I said that about Switzerland. Because of the hyperinflation, people move their
47:20
money out of Germany and we're you know, parking money everywhere else, you
47:24
know. And that's why Hitler came in and said it's against the law to
47:29
having an account outside the country. Right. It was the capital flight because
47:34
of the hyperinflation. Gotcha all right? Well that is it. Really appreciates
47:38
you spending this time with us, Martin and answering these questions. Remember martin
47:44
site is Armstrong Economics dot com. Make sure you go to a site sign
47:49
up for his regular missives. They come out regularly and we read them all
47:55
the time, and sign up for his private blog as well. Very reasonable
48:01
fee fifteen bucks a month, totally worth it. Hey, got any questions,
48:07
any more questions, shoot them off to kl at Carrie LUTs dot com
48:13
and well that's it, Martin. Always a pleasure. Thank you so much.
48:16
Well, thank you, it's great to see you see again next time.
48:21
Thanks for listening to Carrie Letz's Financial Survival Network, your solution to today's
48:25
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