Latest / Financial Survival Network / You are Living in a Kleptocracy - John Rubino #6234

Transcript

You are Living in a Kleptocracy - John Rubino #6234 · Financial Survival Network

0:00
Speaker 1: So they're basically trying USA ideas, trying to institute a
0:03
Speaker 1: system of censorship around the world that censors in the
0:08
Speaker 1: same way as the US once did and Europe does now,
0:13
Speaker 1: you know. So it's back to authoritarianism. Once they get
0:17
Speaker 1: censorship set up everywhere, it's basically over.
0:19
Speaker 2: You're listening to Carrie Lutz's Financial Survival Network, where you
0:23
Speaker 2: get valuable information you just can't find anywhere else to
0:27
Speaker 2: thrive in today's trying times. You need the Financial Survival
0:32
Speaker 2: Network now more than ever. Go to Financial Survivalnetwork dot
0:36
Speaker 2: com and get your free newsletter and gift. Financial Survival
0:41
Speaker 2: Network now more than.
0:43
Speaker 3: Ever, and welcome.
0:47
Speaker 4: You are listening to and watching the Financial Survival Network.
0:51
Speaker 4: I'm your host, Carrie Lutz. John Rabino's with us, and
0:54
Speaker 4: make sure you go check out his substack Rabino dot
0:57
Speaker 4: substack dot com. Questions comments k l at Carrie lets
1:01
Speaker 4: dot com. John has been a while, man, I don't
1:04
Speaker 4: know that we've talked since Trump's inauguration. We definitely haven't
1:08
Speaker 4: the past three weeks. But my goodness, did you ever
1:11
Speaker 4: see anything like this?
1:13
Speaker 3: Hey?
1:13
Speaker 1: Carrie? Yeah, we need to do like a two or
1:15
Speaker 1: three hour show today, you know, some kind of Joe
1:18
Speaker 1: Rogan length thing, so we can cover all the stuff
1:21
Speaker 1: that's happened. But yes, a ton of stuff is happening.
1:24
Speaker 1: But a good place to start might be with how
1:27
Speaker 1: the deep state is being exposed. You know, Trump has
1:32
Speaker 1: Elon Musk and the rest of the DOSE guys out
1:34
Speaker 1: there looking into this stuff, and what they're finding is astounding.
1:38
Speaker 1: So let me start just a little further back and
1:42
Speaker 1: work our way up to US AID ADS because it's
1:47
Speaker 1: just crazy. So basically, what has happened we're now finding
1:50
Speaker 1: out is that the deep state, both Republican and Democrat,
1:54
Speaker 1: is totally bipartisan. They've set up this ecosystem of government
1:58
Speaker 1: funded entities that is basically just a slush fund for
2:04
Speaker 1: useless political people. So basically, you know, in today's world,
2:08
Speaker 1: in today's US, you can get a degree from say
2:10
Speaker 1: Georgetown or someplace, and then you go be a congressional
2:13
Speaker 1: aid and then you go to a think tank, and
2:17
Speaker 1: then you go to some NGO that does you know,
2:20
Speaker 1: hands money to dictators in some other part of the country.
2:22
Speaker 1: And then you come back and you work for a
2:25
Speaker 1: you know, K Street lobbyist, and then maybe you run
2:28
Speaker 1: for Congress and it just goes and then maybe you
2:31
Speaker 1: go work for a Ivy League university, and it's all
2:35
Speaker 1: within this ecosystem where you do basically nothing. You just
2:39
Speaker 1: hang out and you vote for the right people and
2:42
Speaker 1: you donate to the right people, and you accomplish basically
2:45
Speaker 1: nothing that's useful in any way, but the government funds
2:49
Speaker 1: it all. So you and the tens of thousands of
2:51
Speaker 1: people like you end up making a ton of money
2:54
Speaker 1: for an entire career. And it's this cushy, nice life
2:57
Speaker 1: that they've set up for themselves. And that's all being
3:00
Speaker 1: exposed now. And maybe one of the biggest entities that
3:05
Speaker 1: participates in this is USAID, which is this basically, you know,
3:12
Speaker 1: the the safe arm of the CIA. In other words,
3:17
Speaker 1: they do stuff that the CIA wouldn't be caught dead doing,
3:21
Speaker 1: but they do it in a way that is easy
3:24
Speaker 1: to hide. And so they're out there basically funding the
3:28
Speaker 1: mainstream media. You know, they hand out tens of millions
3:31
Speaker 1: of dollars to the BBC and this thing called Politico. Yes,
3:37
Speaker 1: so they went in and they basically bought tens of
3:40
Speaker 1: millions of dollars worth of subscriptions to Politico, and that's
3:43
Speaker 1: how they finance, political, So all of these things are
3:45
Speaker 1: out there just kind of self perpetuating a system, okay,
3:49
Speaker 1: and a lot of what USAID does is overthrow other
3:52
Speaker 1: governments or in other ways suborn other countries and basically
3:58
Speaker 1: just keep them under the control of the US Empire.
4:02
Speaker 1: And so Trump is basically shut that thing down now.
4:05
Speaker 1: You know, He's laid off ninety seven percent of the
4:07
Speaker 1: people that are working for it and just shut down
4:11
Speaker 1: all the funds, transfers to legacy media outlets, and it's
4:15
Speaker 1: got the deep state power free. I mean, they are
4:18
Speaker 1: absolutely terrified that this might actually work, because there's some
4:22
Speaker 1: question about whether it's constitutional for the executive branch to
4:27
Speaker 1: shut down an entity that is funded by Congress. You know,
4:30
Speaker 1: we'll find that out, but so far, Trumplin just did it.
4:35
Speaker 1: And so this thing that was basically just the hidden
4:41
Speaker 1: evil arm of the US Empire and you know, stomping
4:44
Speaker 1: around the world doing all kinds of crazy stuff, is
4:47
Speaker 1: basically done now. And that is just phenomenal. You know,
4:51
Speaker 1: that's a great thing that's happening. So and that and
4:53
Speaker 1: among a lot of other things, you know, the government
4:56
Speaker 1: is under Trump, they're operating with a flood the Zone
5:01
Speaker 1: strategy where they're they're coming up with five different things
5:04
Speaker 1: that outrage the deep state every day, and so the
5:07
Speaker 1: legacy media can't cover all that stuff, or that they
5:10
Speaker 1: try to cover today's stuff, that means they have to
5:12
Speaker 1: let yesterday's stuff slide. And so so much of this
5:16
Speaker 1: stuff is basically for that reason, under the radar. You know,
5:19
Speaker 1: the the Trump administration is publicizing what they want to
5:24
Speaker 1: be publicized and just letting the other stuff be hidden
5:27
Speaker 1: because they're flooding the zone with everything. So so far,
5:31
Speaker 1: you know, so far is so good, and also so
5:34
Speaker 1: far so entertaining. This is just hilarious to watch. And
5:39
Speaker 1: you know, a good place to go to to see
5:42
Speaker 1: what the deep state is thinking about all this is
5:44
Speaker 1: the New York Times online arm because they're pretty smart people.
5:49
Speaker 1: You know, The New York Times is the one of
5:51
Speaker 1: the pinnacles of a mainstream media career path. So they
5:55
Speaker 1: get smart people who can articulate this stuff really well.
5:58
Speaker 1: And so they sit around and they talk about whether
6:00
Speaker 1: it's over for the Democrat Party and what they should
6:02
Speaker 1: do about all this stuff, and it's hilarious. They're they're
6:06
Speaker 1: so baffled.
6:07
Speaker 3: But.
6:09
Speaker 4: They got tens of millions of dollars from the USA ideals.
6:13
Speaker 1: Yes they did. They're on the gett a donor of it.
6:16
Speaker 4: They weren't supporting my website, John they do? Were they
6:20
Speaker 4: behind dollar collapse?
6:21
Speaker 1: Okay? Here here's here's a here's a possibility for the
6:24
Speaker 1: way this goes. Is it some court tells Trump that
6:28
Speaker 1: he is not allowed to shut down USAID. So then
6:32
Speaker 1: they say, well, okay, we'll just convert it to a
6:34
Speaker 1: pro MAGA slush fund, ben and maybe they will be
6:38
Speaker 1: you might get a check from those guys pretty soon.
6:40
Speaker 3: Care that would be nice?
6:42
Speaker 1: I went to, well, that would be poetic justice. You know.
6:47
Speaker 1: You say, well, you can't stop USAIDA, and Trump says, okay,
6:50
Speaker 1: well we'll just co opt it. Then, you know, we'll
6:52
Speaker 1: just use it for our own purposes.
6:54
Speaker 3: That it's not really what he wants to do.
6:55
Speaker 4: They said they're going to fire out of or i
6:58
Speaker 4: should say, out of thirteen thousand employees. They're going to
7:00
Speaker 4: keep three hundred of them, and they're folding it into
7:04
Speaker 4: the State Department. Now, USAID was always a CIA cutout
7:09
Speaker 4: projecting soft powers. So yeah, well we'll get hot, we'll
7:13
Speaker 4: get running water going in your country. And you agree
7:18
Speaker 4: that you'll buy into the system and you'll help US
7:21
Speaker 4: spy and whatever else. You know, that's a whole They
7:25
Speaker 4: don't just give people stuff, give countries stuff. They have
7:28
Speaker 4: to agree to be our partners in quotes.
7:32
Speaker 1: Right, and among the biggest things they have to agree
7:34
Speaker 1: to these countries have to agree to censor dissenting voices.
7:39
Speaker 1: So they're basically trying usaidea is trying to institute a
7:42
Speaker 1: system of censorship around the world that sensors in the
7:47
Speaker 1: same way as the US once did and Europe does now,
7:52
Speaker 1: you know, So it's back to authoritarianism. Once they get
7:55
Speaker 1: censorship set up everywhere, it's basically over right, because how
7:59
Speaker 1: do you stop up or a government that is able
8:03
Speaker 1: to keep you from speaking. And you know, that's what
8:06
Speaker 1: we were so close to. We were inches away from
8:09
Speaker 1: this stuff happening. And you know, with open borders, we
8:13
Speaker 1: were going to be a one party state with four
8:15
Speaker 1: more years, and there would have been enough illegal immigrants
8:19
Speaker 1: in swing states to throw every election to the Democrats.
8:23
Speaker 1: So we were right there. You know, one lost election.
8:26
Speaker 1: If Kamala Harris was president right now, democracy around the world,
8:30
Speaker 1: not just in the US, would be over amazing. How
8:33
Speaker 1: close we we got.
8:35
Speaker 4: And they were also putting in billions of dollars funding
8:41
Speaker 4: relief efforts for the so called newcomers coming into the
8:45
Speaker 4: country illegally, hundreds of millions of dollars to something called
8:49
Speaker 4: the Lutheran Immigration Services. I mean, it's staggering the extent
8:57
Speaker 4: of the corruption. And yeah, they did some things that
9:00
Speaker 4: did food relief, vaccines. I mean, I don't know what
9:03
Speaker 4: kind of vaccines they were, whether RFK would approve of
9:06
Speaker 4: them or not.
9:07
Speaker 1: Carrie, could I step in right there. I just read
9:10
Speaker 1: a thing that said there's this huge surplus of those
9:12
Speaker 1: m m r NA vaccines and so that's so they're
9:17
Speaker 1: using it as part of foreign aid. Now they're sending
9:19
Speaker 1: all those vaccines to other countries in order to vaccinate
9:23
Speaker 1: children because that way they can buy them from Pfizer
9:27
Speaker 1: and the other big pharma companies, who then don't lose
9:30
Speaker 1: money on the vaccines that you and I won't take.
9:34
Speaker 1: That's not really funny. I'm sorry, I don't. I shouldn't
9:36
Speaker 1: laugh about that, because it's ruining the lives of children
9:38
Speaker 1: all around the world.
9:39
Speaker 3: That's awful. Well, you know, the the illegal immigrants that
9:45
Speaker 3: are here, they're they're committing crimes that Americans won't commit, right.
9:50
Speaker 1: Yeah, who's going to do it if not the immigrants?
9:53
Speaker 3: Right or that.
9:58
Speaker 4: Yeah, there's some legitimate programs in there, but it was
10:01
Speaker 4: a thing initially. JFK created it by executive order and
10:05
Speaker 4: it was there to project soft power, meaning you know,
10:09
Speaker 4: dollar diplomacy, the velvet fist, if you will. And now
10:14
Speaker 4: it's morphed into like a gravy train for for the
10:18
Speaker 4: Dems that you know, where dollars go to die.
10:22
Speaker 1: You know, we'll see you know, we can't just blame
10:24
Speaker 1: the Dems on this because Republicans are part of the
10:27
Speaker 1: gravy train too. And USAID. You know, after you're done
10:30
Speaker 1: being a think tank guy or a congressional aid or
10:33
Speaker 1: something like that, you just go to one of these
10:35
Speaker 1: NGOs that are financed by USAID and that pays your salary.
10:41
Speaker 1: So I mean, you can literally get through an entire
10:45
Speaker 1: lifetime bouncing from one of these entities to another, never
10:48
Speaker 1: accomplish a positive thing in your life, retire with a
10:51
Speaker 1: ton of money, and everybody thinks you did important stuff.
10:55
Speaker 1: And that is the ecosystem they created. It's astounding, and
10:59
Speaker 1: you know, to see these guys get fired on mass
11:03
Speaker 1: poetic justice of the highest order. I mean, this is
11:06
Speaker 1: just amazing. And so what podcasts now have to do
11:10
Speaker 1: is start following these people after they get fired to
11:13
Speaker 1: see where they end up, because I think their lives
11:16
Speaker 1: are going to be a little less cushy than they were.
11:19
Speaker 4: A subsidized podcast, no doubt. You know, Bill Crystal, a
11:25
Speaker 4: big neocon of his NGO, got paid like eight million
11:31
Speaker 4: dollars that we know of.
11:32
Speaker 3: There's a lot more coming.
11:34
Speaker 4: And you know, he's a pro democracy group. It's a
11:40
Speaker 4: pro democracy ngo that Crystal sits on, and you know,
11:45
Speaker 4: got to eight million Politico. You know, thirty four million
11:50
Speaker 4: New York Times is just it's staggering in the scope
11:54
Speaker 4: of it.
11:54
Speaker 3: You know, it's real.
11:55
Speaker 1: Yeah, it is absolutely astounding. And you know, we kind
11:59
Speaker 1: of sort of knew this was happening, but we didn't
12:01
Speaker 1: know that it was happening on this scale. I mean,
12:03
Speaker 1: this is new information for most people.
12:06
Speaker 4: Well, yeah, we knew the We knew the extent of it,
12:10
Speaker 4: but we didn't know the specifics.
12:11
Speaker 3: We knew the macro.
12:13
Speaker 4: We knew they had to be stealing a fortune because
12:16
Speaker 4: the budget, which was already inflated in twenty nineteen went
12:20
Speaker 4: up a trillion and a half dollars thirty a third,
12:23
Speaker 4: and certainly they aren't doing anything you know, beneficial for
12:29
Speaker 4: that trillion and a half more dollars, So it's basically
12:31
Speaker 4: all being stolen. Now they've gone into h you know,
12:35
Speaker 4: to Medicare and Medicaid, found one hundred billion dollars off
12:40
Speaker 4: the top of misspending. I assume that includes fraud, improper payments,
12:45
Speaker 4: et cetera, et cetera. Wait till they get to the Pentagon, John,
12:49
Speaker 4: Can you imagine that's going to be an interesting one
12:52
Speaker 4: because you know, the Republicans are not going to like
12:55
Speaker 4: that part of it.
12:56
Speaker 1: They're liking the whole USAI do thing for the most
12:58
Speaker 1: part because it's most the left wing entity right now.
13:03
Speaker 1: But when they start getting into the Pentagon, that's that's
13:06
Speaker 1: when we find out how serious these guys are about
13:09
Speaker 1: actually finding the truth. And you know, here's hoping the
13:12
Speaker 1: Pentagon has never passed an audit. There are tens of
13:15
Speaker 1: trillions of dollars that have just gone missing, and well,
13:19
Speaker 1: I mean officially missing.
13:21
Speaker 3: We know where they are.
13:22
Speaker 1: They're in dictators Swiss bank accounts and the general's second
13:26
Speaker 1: houses and things like that it's all been spent by
13:30
Speaker 1: the guys who siphoned it off along the way. And
13:33
Speaker 1: you know what, if we can shine some light on that,
13:35
Speaker 1: that would be amazing. But I don't want to get
13:38
Speaker 1: too excited about this because there are barriers in the
13:41
Speaker 1: way of a lot of this stuff. But you know,
13:43
Speaker 1: so far it's been hilarious.
13:46
Speaker 4: The firewall and the preening by the left of you know,
13:52
Speaker 4: they haven't mentioned nobody. No rational citizen can be in
13:57
Speaker 4: favor of money just being flushed down the toilet, right,
14:01
Speaker 4: nobody can be. But these guys are going out there
14:03
Speaker 4: defending it, never saying that other exposing ways, just that
14:08
Speaker 4: Elon Musk who voted for him, he's unappointed. He's running
14:12
Speaker 4: the country all this stuff. And in the meantime, they
14:16
Speaker 4: keep dropping more and more and more fraud. And it's
14:20
Speaker 4: going to be like this in every agency, Like I
14:22
Speaker 4: know for sure when they get the HUD, there's going
14:25
Speaker 4: to be billions because after the foreclosure crisis, there were
14:29
Speaker 4: all these lawsuits brought against the banks and they were
14:32
Speaker 4: all settled, and they all involved payments to NGOs along
14:39
Speaker 4: with a lump sum payment to the government. So there's
14:43
Speaker 4: billions of dollars that have been floating around HUD getting
14:47
Speaker 4: stolen basically, and.
14:49
Speaker 3: You pretty much go.
14:51
Speaker 4: Also, it's like the people in Treasury when they went there,
14:55
Speaker 4: they were told they were told never to reject the payment.
14:59
Speaker 4: Every payment that came in they had to pay. Man,
15:02
Speaker 4: had I known that, I would have been sending my
15:04
Speaker 4: bills into the treasury years ago. I'm thinking about doing
15:08
Speaker 4: it now. But those Doge guys might have might have
15:11
Speaker 4: cut it off for me.
15:13
Speaker 1: Yeah, yeah, you might have missed your chance at this
15:15
Speaker 1: gravy is rand here, Harry.
15:16
Speaker 3: But you never know.
15:17
Speaker 1: I mean that the scenario where the the Trump administration
15:21
Speaker 1: doesn't kill but instead co ops USA I D is
15:25
Speaker 1: still possible. And if that's the case, you would be
15:28
Speaker 1: on the list. So don't give up. You know you
15:30
Speaker 1: could get your eight million dollars. Okay, I'm willing.
15:33
Speaker 3: To try it. You know, why not? What do I
15:36
Speaker 3: got to lose?
15:38
Speaker 4: Certainly the benefits have just not the benefits, the so
15:44
Speaker 4: called benefits to the country just have not been there.
15:48
Speaker 3: But that's Doge for you.
15:49
Speaker 4: It's amazing they're using AI, they get into the system
15:54
Speaker 4: and these these nobody's ever audited this stuff like they
15:59
Speaker 4: could to allocate x amount in Congress, and then the
16:03
Speaker 4: Treasury could pay out five times more and nobody would
16:06
Speaker 4: ever know.
16:07
Speaker 1: Yeah, and you know, the big risk they took before
16:11
Speaker 1: they started all this stuff was was having Elon Musk
16:16
Speaker 1: hang out with Trump at mar A Lago. Yeah, because
16:19
Speaker 1: that was a very coherent target right there. You know
16:23
Speaker 1: that that building could have blown up at any time
16:25
Speaker 1: that they were in there together.
16:26
Speaker 3: Oh, they never do that, We know that.
16:31
Speaker 1: I think that. You know, they were probably using Elon
16:34
Speaker 1: Musk's private security to protect the buildings and that's that's
16:37
Speaker 1: why it didn't blow up.
16:39
Speaker 4: But anyhow, Yeah, laser, drone killers and all that kind
16:44
Speaker 4: of stuff, and you know, it just shows how incompetent
16:47
Speaker 4: they are. They tried to take them out twice and
16:51
Speaker 4: you know, they just couldn't do it. So now they're stuck.
16:54
Speaker 4: And these guys we've been trusting to run the world, right.
16:58
Speaker 1: I wouldn't say they're stuck. I would say they're is
17:00
Speaker 1: trying some new way to do it and something will
17:02
Speaker 1: happen pretty soon. The idea that this is going to
17:05
Speaker 1: be peaceful in its current form, in other words, flooding
17:10
Speaker 1: the zone for the next four years, not a chance
17:13
Speaker 1: something serious is going to happen in an attempt to
17:17
Speaker 1: stop what is now happening. And so you know, we
17:21
Speaker 1: should be ready for that because that's the world could
17:24
Speaker 1: change in a heartbeat almost and yeah, yeah, it came
17:28
Speaker 1: really close to changing in a heartbeat. And you know,
17:32
Speaker 1: one of the things that is keeping Trump going is
17:35
Speaker 1: that JD. Vance would probably continue the Trumpian revolution smart
17:43
Speaker 1: and yeah, yeah, yeah. And he's got a lot of
17:46
Speaker 1: energy too, you know, he would he wouldn't slack off.
17:50
Speaker 1: So it's not clear how much you would gain by
17:53
Speaker 1: taking out Trump because Jdvance is there. And hopefully those
17:57
Speaker 1: three guys, Vance and Musk and Trump are never in
18:00
Speaker 1: the same building. Definitely never in the same car. Okay,
18:04
Speaker 1: hopefully they know that.
18:05
Speaker 4: Not eating at the same McDonald's, right, yeah, yeah, And
18:09
Speaker 4: so so there's light.
18:10
Speaker 3: It's better stay away from it.
18:13
Speaker 1: Looks like your boy RFK has a chance at HHS. Now.
18:17
Speaker 1: You know, it's going to be a very close vote,
18:20
Speaker 1: but it's possible.
18:22
Speaker 4: Now tiebreaker, it'll be a tiebreaker, you know, I think
18:26
Speaker 4: he's going to make it. And Tulsi and Cash Patel,
18:29
Speaker 4: they tied up Cash Pattel for a week. Cash Battel
18:31
Speaker 4: is going to make it, which means that he got
18:34
Speaker 4: his entire team in and really, uh, it's it becomes
18:40
Speaker 4: an impossible task to turn this back the tide. You know,
18:45
Speaker 4: people aren't stupid, and even if they aren't stupid, they
18:48
Speaker 4: still they still understand the grift that's going on. It's
18:52
Speaker 4: become like a massive grift. We always knew that government
18:55
Speaker 4: was a grift. We just had no idea. Can you
18:58
Speaker 4: imagine if they check out the payments to al Sharp,
19:01
Speaker 4: then how much money they'll find?
19:03
Speaker 1: Yeah, I mean they're they're going to find all this
19:05
Speaker 1: stuff and well, you know, the cabinet as it's evolving
19:11
Speaker 1: is I don't know, I don't I don't want to
19:13
Speaker 1: say almost too good to be true. That's that's my
19:15
Speaker 1: first impression. But you know, these guys, there are experience
19:19
Speaker 1: issues and stuff with some of these guys, but it's
19:22
Speaker 1: going to be the most entertaining capet for sure that
19:25
Speaker 1: has ever been. And have you seen Trump's new press secretary?
19:29
Speaker 3: Yeah, she is a fault blog.
19:31
Speaker 1: She is twenty six years old and hyper articulate, and
19:36
Speaker 1: she's just shutting these guys. You know, I thought Kaylie Mcananny,
19:39
Speaker 1: the Trump had for a while ye. Yeah. I thought
19:43
Speaker 1: she was the best that would ever and I was
19:44
Speaker 1: surprised he didn't just bring her back. But this new
19:46
Speaker 1: one is also better than the Kayla mcananny, I think
19:51
Speaker 1: in a lot of ways. So, you know, having somebody
19:53
Speaker 1: like that as a spokesperson is riceless. It's invaluable to
19:57
Speaker 1: be able just to shut down the DC press core
20:00
Speaker 1: with facts and so yeah yeah, and so the you know,
20:07
Speaker 1: the press corps never gets a gotcha moment and they
20:11
Speaker 1: never get any kind of a SoundBite that they can
20:14
Speaker 1: use because everything she's saying totally contradicts everything they believe.
20:20
Speaker 1: So yeah, she's good. So this is impressive so far.
20:24
Speaker 1: Frum definitely hit the ground running.
20:26
Speaker 4: And look at all the people from the press who
20:28
Speaker 4: are like basically going bye bye. We already saw it
20:32
Speaker 4: started before, but now they got rid of Jim Acosta,
20:38
Speaker 4: and there's a whole bunch of other guys from the
20:40
Speaker 4: press that are just you can see, the view is
20:44
Speaker 4: not long for this world. And I don't know how
20:47
Speaker 4: long long Joe and Nika are going to be around
20:51
Speaker 4: because basically a company that owns them has spun them off,
20:56
Speaker 4: and there's no way that MSNBC can make money.
20:59
Speaker 3: Maybe you were bed as well.
21:01
Speaker 1: Did you hear the details of the spinoff? They don't
21:03
Speaker 1: get the MSNBC name and they don't get any reporting
21:08
Speaker 1: help from NBC, So they're a no they're a no
21:13
Speaker 1: name new podcast just entering the market right now with
21:17
Speaker 1: people that have really small audiences. So I think MSNBC
21:23
Speaker 1: will not be in the top one hundred of whatever
21:27
Speaker 1: they're going to be, you know, cable channels or podcasts,
21:31
Speaker 1: series or whatever, you know, whatever form they take, they're
21:34
Speaker 1: going to be small. And those guys are going to
21:36
Speaker 1: be making you know, I mean, what do you make
21:38
Speaker 1: if you're the in the one hundred and tenth biggest
21:41
Speaker 1: podcast and there's fifty of you on the same podcast,
21:44
Speaker 1: you you don't make very serious Milliam work. Yeah, maybe
21:48
Speaker 1: you might have to think of it as a problem. Yeah,
21:51
Speaker 1: you think of it as a way to not be
21:54
Speaker 1: unemployed while you're looking for a real job. You're not,
21:59
Speaker 1: but you're so so, Carrie, how do we invest for
22:01
Speaker 1: this now? Because is the going to go up?
22:06
Speaker 3: The miners are even going up now.
22:08
Speaker 1: Yeah. John gold is rocking now. For two reasons. One
22:11
Speaker 1: is that okay, three reasons. One is that it's baked
22:16
Speaker 1: into the cake. You know, we've already borrowed so much money,
22:18
Speaker 1: and the interest on that debt is already soaring stratospherically.
22:22
Speaker 1: So we got a financial crisis out there, no matter what.
22:26
Speaker 1: The second thing is that I don't know, maybe it's
22:30
Speaker 1: the third thing. Well, anyhow, the second thing is that
22:31
Speaker 1: Trump is an easy money guy. He likes low interest rates,
22:34
Speaker 1: and he already came out and said, I'm going to
22:36
Speaker 1: demand that the that the Fed immediately cut interest rates,
22:41
Speaker 1: and I think the rest of the world's central banks
22:43
Speaker 1: should do the same thing. So he, you know, as
22:45
Speaker 1: a real estate guy, he knows that interest rates should
22:48
Speaker 1: be low all the time. And so we're going to
22:50
Speaker 1: have fairly easy monetary policy under Trump, and we're going
22:55
Speaker 1: to be throwing easy money basically into the everything bubble,
22:58
Speaker 1: the biggest financial bubble of all time, which is pretty
23:00
Speaker 1: damn the inflation area when you think about it. So
23:03
Speaker 1: that's good for gold. And then we've got this thing
23:06
Speaker 1: going on with the tariffs in London, causing gold to
23:08
Speaker 1: pour out of the London markets and into New York.
23:13
Speaker 1: And two things about that. One is that if you try, well,
23:17
Speaker 1: if you try to buy gold on the London Metals Exchange.
23:19
Speaker 1: Now there's an eight week wait. And normally they have
23:23
Speaker 1: gold sitting in a vault. You know, you go you
23:25
Speaker 1: buy it by using a futures contract or whatever, and
23:28
Speaker 1: they just go get the gold and ship it to you.
23:31
Speaker 1: Now they don't have it, so they're basically defaulting on
23:36
Speaker 1: one and two month futures contracts, which is just that's
23:41
Speaker 1: a default in a metals exchange. You know, it's a huge,
23:43
Speaker 1: big deal. And then the other thing is, you know,
23:46
Speaker 1: to ship gold from London to New York isn't just
23:49
Speaker 1: put the book fully on on a plane and fly
23:52
Speaker 1: it over. You've got to ship those bars because the
23:55
Speaker 1: two New York and London use different kinds of gold bars,
24:00
Speaker 1: and has to ship their beautiful gold bars to Switzerland
24:03
Speaker 1: to be melted down and recast in the form that
24:07
Speaker 1: New York likes and then have that be shipped to
24:09
Speaker 1: New York. So this is serious. You know, this gold
24:12
Speaker 1: flowing out of London isn't going to just turn right
24:15
Speaker 1: back around and flow back into London out of New York.
24:19
Speaker 1: And that's spooking the gold market. So gold is now
24:23
Speaker 1: rapidly approaching three thousand dollars an ounce, which is a
24:26
Speaker 1: huge deal. Who you deal. And like you said, the
24:28
Speaker 1: gold miners are finally starting to catch a bid. So
24:32
Speaker 1: if you want to see what twenty eight hundred dollars
24:35
Speaker 1: gold means or the miners, just watch the next earning season,
24:40
Speaker 1: which is underway now. You know, the gold miners have
24:42
Speaker 1: to announce their earnings pretty soon and they will have
24:46
Speaker 1: sold a lot of gold at very high prices. So
24:49
Speaker 1: some of those earnings are going to be pretty nice.
24:51
Speaker 1: And that's part of why people are buying the miners now,
24:54
Speaker 1: because they're anticipating some better than expected earnings reports. So
24:58
Speaker 1: here we go. Yeah, and by the way, you know
25:02
Speaker 1: that the miners in this kind of a bull market
25:04
Speaker 1: usually do extremely well. And what also does really well
25:08
Speaker 1: is silver. In the last year of a precious metals
25:11
Speaker 1: bull market, silver goes straight up and it's percentage games
25:15
Speaker 1: double golds at least. So this might be a time
25:19
Speaker 1: to be buying some silver if you don't already have
25:21
Speaker 1: a big, nice stack, which you should. I mean, who
25:24
Speaker 1: listens to your show and doesn't have a stack of silver?
25:27
Speaker 3: I hope all of you out there have one.
25:29
Speaker 4: I know I'd got a pretty nice stack, and you know,
25:32
Speaker 4: one of our sponsors, or west red Lake Gold, they're
25:35
Speaker 4: going to be producing in Q two. Their pfs that
25:39
Speaker 4: they just put out had gold at twenty two hundred
25:43
Speaker 4: dollars and they had a two hundred and fifty five
25:46
Speaker 4: percent IRR. Now that's basically you just added on seven
25:51
Speaker 4: hundred and fifty dollars profit and they're calculating they're going
25:55
Speaker 4: to produce seventy thousand ounces a year.
25:58
Speaker 3: They'll probably do more than that.
26:00
Speaker 4: So their assumptions are so conservative and they're definitely going
26:06
Speaker 4: to be producing.
26:07
Speaker 3: I'm not telling anyone to buy it or not.
26:08
Speaker 4: I'm just saying the economics of what they presented as
26:12
Speaker 4: opposed to what the real world is now is kind
26:15
Speaker 4: of mind numbing.
26:16
Speaker 3: John.
26:17
Speaker 1: Yeah, I've got west red Lake on my Substack newsletter
26:21
Speaker 1: recommended list too. And you know a big part of
26:24
Speaker 1: that is that they're going to do the phase change. Now.
26:26
Speaker 1: You know, when you go from being an explorer or
26:29
Speaker 1: a developer to a producer, you've taken a lot of
26:33
Speaker 1: the risk out of the equation because you've proved that
26:36
Speaker 1: there is gold there and that you can get it
26:38
Speaker 1: out of the ground and process it. So once you
26:43
Speaker 1: prove you do that then you're a producer, which trades
26:47
Speaker 1: at a higher ratio in relation to everything else about you.
26:51
Speaker 1: And so West red Lake in you know, the second
26:55
Speaker 1: half of this year is going to become a producer.
26:57
Speaker 1: And hopefully there aren't a lot of growing pains in
27:00
Speaker 1: you know, the mind ramping up and everything and the
27:03
Speaker 1: meal ramping up. But if it goes even reasonably smoothly,
27:08
Speaker 1: and all of their numbers were very conservative and they're
27:11
Speaker 1: going to be putting out some really good earnings reports
27:13
Speaker 1: by the end of the year. So here's hoping for
27:15
Speaker 1: them and a lot of other entities that are kind
27:18
Speaker 1: of in the class.
27:19
Speaker 3: And their management.
27:21
Speaker 4: Shane Williams is the pre eminent mind guy when it
27:25
Speaker 4: comes to mind restarts. He's done. I think this is
27:28
Speaker 4: his sixth and you know it sounds like, oh, mind restart,
27:33
Speaker 4: you just turn the switch back on and everything is fine.
27:36
Speaker 3: Well, now, company that had that mind before kind of
27:39
Speaker 3: screwed things up because they didn't understand their metallurgy and
27:44
Speaker 3: the you know, how to properly process the type of
27:48
Speaker 3: deposit that they had. But this guy is like brilliant
27:53
Speaker 3: and you.
27:54
Speaker 4: Know, their finance now they got the last tier of
27:57
Speaker 4: financing on non deluded.
27:59
Speaker 3: It's a credit.
28:00
Speaker 4: Line they drew down. I think it's thirty five million.
28:03
Speaker 4: They drew down a significant portion. So they're going to
28:07
Speaker 4: be ready to go. And they're only calculating a mind
28:10
Speaker 4: life of like seven years, and you know which is
28:13
Speaker 4: insane because so with a seven year mind life, with
28:17
Speaker 4: twenty two hundred dollars gold and seventy thousand ounces per
28:21
Speaker 4: annum production, all those things taken into account, they're going
28:25
Speaker 4: to weigh under promise and hopefully way over deliver. But everything,
28:30
Speaker 4: as you know and I know only too well, we
28:32
Speaker 4: have the battle scores in this sector is really it's
28:37
Speaker 4: a heartbreaker sector the market. But hey, what about tariffs
28:42
Speaker 4: here Mexico Canada? Like all we asked is just don't
28:47
Speaker 4: send your people over the border and stop sending the drugs,
28:51
Speaker 4: like I think in Canada the decriminalized fentanyl. And it's like,
28:55
Speaker 4: oh no, no, you can't push us around. And then
28:59
Speaker 4: one day they, oh no, we were always cooperating. This
29:02
Speaker 4: is always what we were going to do.
29:04
Speaker 3: But what do you make of this?
29:06
Speaker 1: Well, I think Trump is a transactional president and tariffs
29:12
Speaker 1: are his opening bid when he wants something from somebody.
29:15
Speaker 1: So what he does is he sees the country who
29:17
Speaker 1: he wants to behave a certain way, and he immediately
29:20
Speaker 1: slaps tariffs on them. Since we're the biggest market for
29:22
Speaker 1: basically everything in the world, that is an existential threat
29:26
Speaker 1: to almost any country. So on day one, they're looking
29:30
Speaker 1: at an existential threat over here and maybe doing what
29:34
Speaker 1: Trump wants over here, and it becomes a no brainer.
29:37
Speaker 1: You know, they do what he wants. So he doesn't
29:40
Speaker 1: expect to replace the income tax with tariff revenue. What
29:45
Speaker 1: he expects to do is to use tariffs as a
29:49
Speaker 1: behavior modification tool internationally and then get things he wants
29:55
Speaker 1: from other countries. And mostly what he wants is for
29:58
Speaker 1: them to set up factories over here. So, you know,
30:01
Speaker 1: from a working class point of view, Donald Trump is
30:04
Speaker 1: the best president ever, even though you know he's a
30:06
Speaker 1: billionaire who might not care personally about forty year old
30:10
Speaker 1: high school educated white guys or anything. But what he's
30:14
Speaker 1: doing by demanding that, yeah, I mean, it's it's the
30:18
Speaker 1: best thing that's ever happened for working class people because
30:21
Speaker 1: factories coming back at the same time the border is closed,
30:25
Speaker 1: by the way, means much higher wages for people who
30:30
Speaker 1: work with their hands and it's about time, you know.
30:32
Speaker 1: So that that basically is I'm not sure how much
30:35
Speaker 1: of this is part of Trump's plan, you know, in
30:39
Speaker 1: his mind, but it's working out that way. He's using
30:42
Speaker 1: tariffs to impose behavior change on countries, mostly by making
30:48
Speaker 1: them build factories here, and that's helping working people. So
30:51
Speaker 1: as a process, it's excellent. I hope it keeps up.
30:56
Speaker 4: Yeah, so what do you think of the prospects of
30:59
Speaker 4: a next in Greenland?
31:01
Speaker 1: Yeah, well, you know, you elect a real estate guy,
31:05
Speaker 1: and you've got to expect him to be out there
31:07
Speaker 1: trying to buy undervalued real estate. So I mean he's
31:10
Speaker 1: talking about taking over the West Bank in Gaza now too, right.
31:14
Speaker 3: Good good water views there, man, harder heart.
31:20
Speaker 1: Because it is you look at it. You just look
31:22
Speaker 1: at picture of it, and it is prime real estate.
31:25
Speaker 1: And that's probably warm water there too. Right. What sea
31:28
Speaker 1: is that is that I'm having trouble picturing. It's not
31:30
Speaker 1: the Pacific. If it's the Mediterranean, that strip of Mediterranean
31:36
Speaker 1: real estate is probably worth more than the GDP's of
31:41
Speaker 1: all the countries in that region. So yeah, you know,
31:44
Speaker 1: Trump is looking at that, and that's what he's thinking
31:47
Speaker 1: is Okay, we'll line hotels up, hotels all longer. It'll
31:52
Speaker 1: be Miami Beach, but with you know, with better water,
31:56
Speaker 1: you know. And so yeah, that's that's not a surprise.
32:00
Speaker 1: It's probably a humanitarian catastrophe if they just kick out
32:04
Speaker 1: the people who live there or who live there prior
32:07
Speaker 1: to the bombing. But it probably is his thought process.
32:13
Speaker 1: And you know, there's no way to talk about the
32:16
Speaker 1: Middle East without running up against the humanitarian crisis part
32:20
Speaker 1: of it all, because you know, so many people are
32:22
Speaker 1: suffering and laughing about Trump turning that into a you know,
32:29
Speaker 1: a resort or something like that is maybe over the line,
32:32
Speaker 1: but I think it is what he's thinking, and hopefully
32:35
Speaker 1: it's done in a way that isn't horrendous, you know,
32:39
Speaker 1: because anything can happen, but hopefully it's not. It's not
32:42
Speaker 1: the worst case scenario.
32:44
Speaker 4: Did you see the look on netna Who's face when
32:47
Speaker 4: Trump mentioned that, Like, they did not talk about this.
32:51
Speaker 4: I'm convinced because Netanyahu's jaw like dropped to the floor.
32:56
Speaker 1: And but oh he thought that was his resort community project,
33:03
Speaker 1: you know, and took it away from him.
33:04
Speaker 4: Yeah, so hey, I can see the buildings, you know,
33:08
Speaker 4: wall to wall with Trump on them, right, they'll have
33:11
Speaker 4: the Trump logo on and they called it what they
33:16
Speaker 4: call it, the maragaza or Gaza lago, gaz a lago,
33:24
Speaker 4: what a world real estate development.
33:26
Speaker 3: But they have to do something different.
33:28
Speaker 4: I think the point is, you know, you can't solve
33:32
Speaker 4: a problem by the same level of thinking that created it.
33:35
Speaker 4: And when you try to solve something and it doesn't
33:39
Speaker 4: work and you keep doing the same thing over and
33:41
Speaker 4: over again, you got to do something different. So maybe
33:45
Speaker 4: that's the point of this whole exercise. What is your
33:48
Speaker 4: biggest surprise about Trump's second term here?
33:53
Speaker 1: How much they've done? I mean, because they just went
33:55
Speaker 1: for it. I thought I was afraid that it was
33:59
Speaker 1: going to be the same, a sloppy thing that he
34:01
Speaker 1: did first time around, even though they seem to be
34:04
Speaker 1: more on top of it. But this time geez, you know,
34:07
Speaker 1: it's there is so much happening that it's hard to
34:11
Speaker 1: keep track of. And I the point, there's really no
34:16
Speaker 1: reason for it to end anytime soon, because there's so
34:19
Speaker 1: much stuff to be done. Like you said, we haven't
34:20
Speaker 1: even started on the Defense Department yet.
34:23
Speaker 3: So that's the best pity of them all.
34:26
Speaker 1: Well, get it, get a peace deal in Ukraine, continue
34:32
Speaker 1: the peace process, you know, continue the the the end
34:37
Speaker 1: of hostilities in the Middle East, and then start auditing
34:42
Speaker 1: everybody in sight and that you know, oh that that
34:43
Speaker 1: could take a whole year, and it would be the
34:45
Speaker 1: most amazing year in American political history. So I'm very
34:50
Speaker 1: pleasantly surprised so far. And let's see where it goes.
34:53
Speaker 4: You No, Musk says he thinks he can say four
34:56
Speaker 4: billion dollars a day. I think we're up to close
34:59
Speaker 4: to a billion, which would be three hundred and sixty
35:02
Speaker 4: five billion that had cut off the deficit. And don't forget,
35:06
Speaker 4: that's money we would just have to borrow into existence.
35:09
Speaker 3: So if you can top off.
35:10
Speaker 4: A billion a trillion and a half annual spending, and
35:15
Speaker 4: we get a few hundred billion in tariffs, we cut
35:20
Speaker 4: some other taxes, you know, all of a sudden, our
35:22
Speaker 4: deficit's almost gone. If we sell off a bunch of assets,
35:26
Speaker 4: like the forty five percent of California that the federal
35:29
Speaker 4: government owns, or the ninety percent I think it is
35:33
Speaker 4: of Nevada and Utah.
35:35
Speaker 3: You know, like, what is.
35:36
Speaker 4: The purpose for the federal government to own that land?
35:40
Speaker 4: There's none that I can see that it's not being productive.
35:43
Speaker 4: There's no benefit to the FED zoning half of California.
35:47
Speaker 1: Well, it's you know, a lot of the land that
35:49
Speaker 1: they owned. I use live in Idaho, and I can
35:52
Speaker 1: speak persand about that. A lot of that was national
35:55
Speaker 1: wilderness areas, and that is forests where humans don't go,
36:02
Speaker 1: and just we're preserving it. That's a good thing. You know,
36:05
Speaker 1: I don't want the whole world to be developed, and
36:10
Speaker 1: you know, roads and gas stations and you know, I
36:13
Speaker 1: think we have enough strip malls in this world.
36:15
Speaker 3: Not plans building it the sheet.
36:18
Speaker 1: Yeah, Florida, you know, it might happen that I come
36:22
Speaker 1: down there and live near you and the not too
36:24
Speaker 1: just in future, Harriet, And I think you're part of
36:26
Speaker 1: Florida is a good place to live. But a lot
36:29
Speaker 1: of other parts of Florida, frankly or you know, the
36:31
Speaker 1: southern California esque hellscapes because of that, we just overbuild everything.
36:36
Speaker 1: And if you know, if your world is just strip
36:38
Speaker 1: malls to the horizon, that's that's not a good thing.
36:42
Speaker 1: And you know about the federal budget deficit in general,
36:47
Speaker 1: I would say that's that's a topic for controlling our expectations,
36:53
Speaker 1: managing our expectations, because you know, Social Security is the
36:59
Speaker 1: Social Security payments to legitimate recipients are untouchable, and so
37:05
Speaker 1: is Medicare payments to people who actually qualify that's untouchable.
37:09
Speaker 1: You can, you can squeeze some of the fraud out
37:11
Speaker 1: of there, but the vast majority of entitlement payments are
37:17
Speaker 1: not going to be cut. The Defense Department, that's kind
37:20
Speaker 1: of a bipartisan boondoggle, you know, with the empire is
37:24
Speaker 1: something that I don't think you could get a congressional
37:28
Speaker 1: majority for dramatic cuts just because everybody makes money from
37:33
Speaker 1: the military budget and a lot of people love the
37:37
Speaker 1: US military empire. You know, you combine those guys and
37:40
Speaker 1: you get a majority of voting majority in Congress. So
37:43
Speaker 1: so well yeah, but self interest is self interest through
37:48
Speaker 1: these guys, and I don't I don't see them voting
37:50
Speaker 1: against big military budgets. So that doesn't leave that much.
37:54
Speaker 1: And a lot of what's left over is school lunches
37:56
Speaker 1: and you know, stuff that you can't really legitimately cut,
37:59
Speaker 1: so you.
38:01
Speaker 3: Know, voucher it'll be uh yeah.
38:04
Speaker 1: But well you know so, but so let's let's close
38:06
Speaker 1: down the educational Department and USAID and and bank that money.
38:11
Speaker 1: And and so maybe maybe we cut a few hundred
38:14
Speaker 1: billion a year out of the federal budget. And I
38:18
Speaker 1: mean that it's a cut still, you know, the federal
38:20
Speaker 1: budget never goes down, and if it goes down a
38:22
Speaker 1: little bit under these guys, that's all we can hope for.
38:25
Speaker 1: So my point is, we still have that gigantic financial
38:27
Speaker 1: crisis out there, and Dooge will not stop that from happening. Uh,
38:31
Speaker 1: And then we have to do the gold standard or
38:33
Speaker 1: the big quin standard, you know, the monetary reset, whatever
38:36
Speaker 1: we end up doing. So that's all baked in the cake.
38:39
Speaker 1: But that doesn't mean we can't do a lot of
38:41
Speaker 1: really good things in the meantime that make the US
38:45
Speaker 1: Empire a lot less intrusive around the world and the
38:48
Speaker 1: government a lot less you know, blatantly immoral. So all
38:51
Speaker 1: of that could happen, and that means you and I
38:53
Speaker 1: have a lot of good stuff to talk about until
38:56
Speaker 1: the assassinations start happening.
38:58
Speaker 4: Yeah, well, got a you know, certain things just happen
39:02
Speaker 4: the way they happened. Hey, here's a you know, Trump
39:05
Speaker 4: is the first pro crypto president we've ever had HERA
39:10
Speaker 4: here's a trick question for you. Who is the largest
39:15
Speaker 4: holder of bitcoin in the world.
39:17
Speaker 1: I want to say microstrategies, but you might be implying
39:22
Speaker 1: the federal government.
39:23
Speaker 4: Yes, two hundred eight thousand bitcoins as of December, or
39:28
Speaker 4: two hundred and seven thousand. Multiply that times one hundred
39:32
Speaker 4: thoy it's twenty billion. Imagine if they really like go
39:36
Speaker 4: full force behind it and it becomes like a two
39:39
Speaker 4: hundred trillion dollar market.
39:41
Speaker 3: You know, there's our deficit right there.
39:44
Speaker 1: See that that is an interesting pump and dump, right
39:47
Speaker 1: The federal government could set up that National Wealth Fund,
39:51
Speaker 1: Sovereign Wealth fund, buy bitcoins just at the margin, because
39:56
Speaker 1: that would send everybody else into bitcoin, and bitcoin would
39:59
Speaker 1: go up with the US government having to spend too much,
40:02
Speaker 1: then dump it or several trillion dollars and then throw
40:07
Speaker 1: that at the national bet And okay, that could happen.
40:10
Speaker 1: I think that's completely within the the ethical boundaries of
40:16
Speaker 1: Trump and his people. You know, doing a pump and
40:18
Speaker 1: dump with bitcoin.
40:19
Speaker 3: Well, I don't have to dump so much. Is just
40:22
Speaker 3: pay everything off in bitcoin once a while. But that's
40:26
Speaker 3: a dump billion a coin. You just pay all the
40:29
Speaker 3: debts in bitcoin.
40:31
Speaker 1: Yeah, but that's that is effectively a dump. I mean
40:34
Speaker 1: you're using your spending a dumb Yeah. Well, well, I
40:38
Speaker 1: mean you pump it, it goes up to a trillion
40:40
Speaker 1: dollars per coin, or well, you know, a billion dollars
40:43
Speaker 1: per coin billion. Yeah, and then then when you spend it,
40:49
Speaker 1: that's dumping it. And so you can only get you
40:52
Speaker 1: can only do that with a little bit at the
40:55
Speaker 1: margin because everybody else was our front running you unless
40:58
Speaker 1: you lied about who was doing the dumping, you know,
41:02
Speaker 1: and then they could do that too. They could say, hey,
41:04
Speaker 1: it must be Saudi Arabia. It's not us. We're still buyers.
41:07
Speaker 1: America is still buying bitcoin.
41:11
Speaker 3: You know where they got that two hundred and seven
41:13
Speaker 3: thousand bitcoins from?
41:14
Speaker 1: But was it from Mount GX or someplace.
41:16
Speaker 4: From ross Olvery silk ros Oh, okay, confiscated it. Obviously
41:21
Speaker 4: they were a lot cheaper.
41:23
Speaker 3: You know. I wanted to talk to one other one
41:26
Speaker 3: other thing. I want to talk to you about Sam
41:28
Speaker 3: Bankman Freed. All right. I don't think the guy.
41:32
Speaker 4: Was a thief in the sense of like a Ponzi
41:36
Speaker 4: or a Bernie made off. I think he was kind
41:40
Speaker 4: of probably on the spectrum and kind of like didn't
41:44
Speaker 4: really know how to run a business, and he didn't
41:46
Speaker 4: really appreciate you got a bucket here and a bucket there,
41:49
Speaker 4: and a Wall Street, you got custody and all that.
41:54
Speaker 4: And you know, he got its twenty five year sentence
41:58
Speaker 4: for like, I don't think he knows what he did.
42:01
Speaker 4: And all of his creditors got paid off one hundred
42:05
Speaker 4: and twenty cents on the dollar. And that's after the
42:08
Speaker 4: shenanigans that go on with the US trustee and the law.
42:13
Speaker 3: Firm and all of that.
42:15
Speaker 4: I mean, everybody is feeding on that carcass. So for
42:18
Speaker 4: somebody to get paid one hundred and twenty cents on
42:21
Speaker 4: their claim is unheard of.
42:23
Speaker 3: I mean, it never ever happens.
42:25
Speaker 4: Rarely will it happen where sometimes they will just go
42:28
Speaker 4: bankrupt to do a liquidation because there's some lurking contingent
42:34
Speaker 4: liabilities out there and they just say, enough is enough,
42:37
Speaker 4: let's just liquidate this guy. But if we don't go bankrupt,
42:41
Speaker 4: we could be personally liable. We go bankrupt, distribute the
42:45
Speaker 4: proceeds the creditor, the contingent creditors, the contingent liabilities get screwed.
42:51
Speaker 4: Here man, like you read Michael Lewis's book, and you know,
43:00
Speaker 4: then you see the bank, the law firm who took
43:04
Speaker 4: over the bankruptcy, and I don't want to name names
43:08
Speaker 4: because I don't want to get on their list. I
43:09
Speaker 4: used to do business with them once upon a time,
43:13
Speaker 4: and they're a deep state. As it gets. My theory is, yeah,
43:20
Speaker 4: he was vulnerable and they and he was definitely doing something.
43:26
Speaker 4: Something's wrong, But this is a deep state takeout to
43:29
Speaker 4: let Wall Street take over Crypto. He was a genius trader,
43:33
Speaker 4: John like he could arbitrage in his head multiple markets,
43:39
Speaker 4: and you know, he's making like billions of dollars just arbitraging.
43:44
Speaker 4: He got in over his head and then they went
43:46
Speaker 4: and dissected him.
43:48
Speaker 1: Yeah, well, okay, I don't know anything about the details
43:51
Speaker 1: of that, so I don't have an opinion about whether
43:54
Speaker 1: it was a crime or just an autistic kid who
43:57
Speaker 1: didn't understand what he was doing. I will say that
44:00
Speaker 1: the woman that he had as his CEO of the
44:04
Speaker 1: related hash fund, she was on TV a lot, and
44:09
Speaker 1: no way in hell was that for some the CEO
44:11
Speaker 1: of a hedge fund for real, right, she would just
44:15
Speaker 1: some strange little chick that he picked up somewhere and installed.
44:20
Speaker 4: Yeah, I think she pleaded guilty. I don't remember she
44:24
Speaker 4: turned against him, and I think she got sentenced. But
44:29
Speaker 4: I'm going to do some more research on it because
44:31
Speaker 4: I am pretty confident that they knew he was underwater.
44:36
Speaker 4: They struck right at that point, and Wall Street picks
44:39
Speaker 4: up the pieces, John. Cryptos are the greatest gold rush
44:43
Speaker 4: ever for Wall Street. Think about that, because they don't
44:46
Speaker 4: have to worry about a company making its quarterly numbers
44:50
Speaker 4: and you know how much of a dividend they're going
44:53
Speaker 4: to pay a little things like that that historically they
44:57
Speaker 4: were you know, supposed to be watching. Now it's just
45:02
Speaker 4: what new product, what new etf can we sell some futures,
45:07
Speaker 4: let's trade and this is the biggest gravy train for
45:12
Speaker 4: Wall Street and history. And make a prediction here, every
45:16
Speaker 4: major company like ten billion dollars and over will create
45:19
Speaker 4: their own cryptocurrency. They'll tie it to the dollar, but
45:23
Speaker 4: basically they will pay you in their crypto. If you're
45:26
Speaker 4: a vendor, you can go convert it to money or
45:29
Speaker 4: somebody else's crypto. Probably Elon Musk will start with it.
45:33
Speaker 4: This is what Facebook and Zuckerberg wanted to do, Like
45:38
Speaker 4: five six years ago, and Jenet Yellen said no, you can't,
45:43
Speaker 4: and that was the end of it.
45:44
Speaker 1: But this is going to happen, jaw Well Trump will say, yeah,
45:47
Speaker 1: go ahead and do it. Okay. Two things about that.
45:50
Speaker 1: One is that what you're talking about is tokenization, where
45:53
Speaker 1: you basically slice and dice everything. It's like securitization, but
45:57
Speaker 1: instead you create some kind of a crypt do entity
46:01
Speaker 1: that uh and and and we're doing it for everything,
46:04
Speaker 1: and not just digital assets but real world assets. By
46:07
Speaker 1: the way, real world assets is now a name for
46:11
Speaker 1: a subcategory of investment assets carved out because they exist.
46:19
Speaker 1: There's actually a category that are defined as existing, and
46:23
Speaker 1: that's there, that's their defining trait because a lot of
46:25
Speaker 1: these other things do not exist. And yeah, well, I
46:30
Speaker 1: mean the cryptos have no physical existence and printed on well,
46:36
Speaker 1: I mean, I don't know what it means for the value,
46:38
Speaker 1: but literally they don't have a physical existence, and yet
46:41
Speaker 1: they're they're investment vehicles and instruments and things like that.
46:46
Speaker 1: So what what what you were talking about where everybody
46:49
Speaker 1: creates their own crypto and ties it to the dollar
46:53
Speaker 1: means the infinite increase in the money supply, so that
46:58
Speaker 1: means spike inflation for all kinds of things, and it'll
47:02
Speaker 1: be a lot of the low quality and cryptos that
47:04
Speaker 1: just cease to exist, you know, their value will plunge
47:06
Speaker 1: to zero, that'll be their intrinsic value, and then a
47:10
Speaker 1: lot of other things will be caught in the in
47:12
Speaker 1: the kind of whirlwind that that creates. So we're headed
47:16
Speaker 1: for a kind of peak complexity that is just going
47:20
Speaker 1: to be breathtaking, and nobody can predict how it's going
47:23
Speaker 1: to play out, except you know, in pockets, if not
47:26
Speaker 1: all the way across the board, it's going to be
47:28
Speaker 1: incredibly inflation.
47:29
Speaker 4: Ray, can't you see? Remember banks used to create their
47:34
Speaker 4: own money. They used to have gold in the vault
47:38
Speaker 4: in theory, and they their money was deposit receipts. So
47:42
Speaker 4: for JP Morgan Chase to create a trillion dollar crypto
47:47
Speaker 4: currency that you know, you can deposit in JP Morgan,
47:52
Speaker 4: they'll pay you interest on their own currency, right, and
47:56
Speaker 4: you can use it to buy other stuff, buy stuff
47:59
Speaker 4: in the market whatever, Right, I mean, how can they
48:03
Speaker 4: not do this, John, how.
48:05
Speaker 3: Can they not?
48:06
Speaker 1: They'll do it and everybody will do it. And all
48:10
Speaker 1: of those things that are created are forms of money.
48:14
Speaker 1: They're like dollar bills or you know, a bank statement
48:18
Speaker 1: balance or something like that for treasure. But if everybody's
48:22
Speaker 1: creating them, that means the money supply is going up
48:25
Speaker 1: at an exponential rate. So we get this massive inflation,
48:30
Speaker 1: which is to say, most of those things will plunge
48:33
Speaker 1: to zero in value, and you know, it might end
48:37
Speaker 1: up with a couple of cryptos and gold and silver
48:40
Speaker 1: the only thing standing at the end of this. So
48:42
Speaker 1: we need to be paying attention to this because it's
48:44
Speaker 1: it's destructive for most people. You know, this is going
48:47
Speaker 1: to be something that sucks people in and destroys their lives,
48:50
Speaker 1: so we have to be very careful.
48:52
Speaker 3: Hey, can you picture they say, you can have your
48:55
Speaker 3: money and deposit at JP Morgan and you'll pay us
48:59
Speaker 3: a fee for the privilege of storing it here. Or
49:03
Speaker 3: you can convert to.
49:05
Speaker 4: JP's whatever and you'll make ten percent interest.
49:10
Speaker 3: Which one would you.
49:11
Speaker 4: Prefer, right, and then they'll have all the dollars and
49:15
Speaker 4: everyone else'll have the crypto. When you charge on a
49:19
Speaker 4: JP Morgan credit card, you can pay it with your
49:22
Speaker 4: JPS writ your mill automatically with JP's. Maybe you'll get
49:26
Speaker 4: a discount if you use jps right.
49:28
Speaker 1: Yep, yep, and people will fall for that and be destroyed.
49:33
Speaker 3: You know.
49:33
Speaker 1: It's the people who trust the system that end up
49:35
Speaker 1: losing when something like this happens. So we need to
49:38
Speaker 1: make sure we keep that message out there that never
49:41
Speaker 1: ever trust anything you don't understand completely, because the reason
49:46
Speaker 1: you don't understand it is because they're lying in some
49:49
Speaker 1: way about it.
49:50
Speaker 3: Yeah, because they don't want you to, because your ignorance
49:53
Speaker 3: is not bliss. I think we'll leave it at that.
49:55
Speaker 4: Make sure you go over to John's substack Rebino dot
50:00
Speaker 4: substack dot com and the link is in the show
50:03
Speaker 4: notes of this interview on Financial Survival Network dot com
50:06
Speaker 4: in the show notes of this interview. While you're there,
50:09
Speaker 4: please sign up for your free newsletter. Like over seventy
50:12
Speaker 4: thousand other FSN members have, we're getting like thousands of
50:16
Speaker 4: sign ups per week for some reason. John, and Hey,
50:21
Speaker 4: we will talk to you again soon. Be well, all right, Kara,
50:23
Speaker 4: take care.
50:24
Speaker 2: Thanks for listening to carry Letz's Financial Survival Network your
50:28
Speaker 2: solution to today's trying times. For the latest, go to
50:32
Speaker 2: Financial Survival Network dot com. Financial Survival Network now more
50:38
Speaker 2: than ever