Latest / Financial Survival Network / Dogecoin, Gov. Oversight, Economic Reform - Gerson Gibbs #6253

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Dogecoin, Gov. Oversight, Economic Reform - Gerson Gibbs #6253 · Financial Survival Network

• 0:00
  Speaker 1: You know, this administration is also taking an independent approach
• 0:03
  Speaker 1: on overseeing how the government was monitoring these financial institutions.
• 0:09
  Speaker 1: And based on what I'm looking at, it appears that,
• 0:12
  Speaker 1: you know, there was a lot of misuse, a lot
• 0:14
  Speaker 1: of misspending, a lot of abuse of power in the
• 0:17
  Speaker 1: past administration, and I think this current administration is trying
• 0:22
  Speaker 1: to reverse those effects and bring a little bit of
• 0:24
  Speaker 1: balance to the market.
• 0:25
  Speaker 2: You're listening to Carrie Lutz's Financial Survival Network, where you
• 0:29
  Speaker 2: get valuable information you just can't find anywhere else to
• 0:33
  Speaker 2: thrive in today's trying times. You need the Financial Survival
• 0:37
  Speaker 2: Network now more than ever. Go to Financial Survivalnetwork dot
• 0:42
  Speaker 2: com and get your free newsletter and gift. Financial Survival
• 0:46
  Speaker 2: Network now more than ever.
• 0:53
  Speaker 3: And welcome you are listening to and watching the Financial
• 0:56
  Speaker 3: Survival Network. I'm your host, Carrie Lutz. Hey, we're in
• 1:00
  Speaker 3: March now. The Trump regime is firmly underway. Deregulation seems
• 1:06
  Speaker 3: to be the theme, but maybe we're looking for something
• 1:11
  Speaker 3: a little We want deregulation, but we do want the
• 1:16
  Speaker 3: cops out there regulating unhealthy and criminal behavior. How is
• 1:24
  Speaker 3: that all going to work out? Especially with all these
• 1:26
  Speaker 3: layoffs that are taking place in the public sector. We
• 1:30
  Speaker 3: never thought we'd see the day when that would occur.
• 1:33
  Speaker 3: And well, Girston Gibbs is with us now Bellet Capital. Girston,
• 1:39
  Speaker 3: I guess before we get started, should tell us what
• 1:42
  Speaker 3: you do, what your company does, and how you help
• 1:46
  Speaker 3: investors here.
• 1:48
  Speaker 1: Well, we provide independent Well, first of all, thank you
• 1:50
  Speaker 1: for having me, Carrie, it's a pleasure of being on
• 1:53
  Speaker 1: your show. My name is Gerston Gibbs again and my
• 1:57
  Speaker 1: company Belly Capital. We provide independent oversight to investors to
• 2:03
  Speaker 1: a system with just looking at their investment strategies, recommendations
• 2:08
  Speaker 1: from their investment advisors and investment companies, and the system
• 2:13
  Speaker 1: with ensuring that those are actually the correct type of
• 2:17
  Speaker 1: strategies to be in and that what their investment advisor
• 2:21
  Speaker 1: telling them is actually true and they're not just telling
• 2:24
  Speaker 1: them and their own benefit. To ensure that they remain
• 2:28
  Speaker 1: investing with them, we just provide that additional oversight, a
• 2:32
  Speaker 1: system with diversifying their portfolio, give recommendations and suggestions. A
• 2:37
  Speaker 1: lot of our investors are also entrepreneurs, so sometimes they
• 2:42
  Speaker 1: may be a little too busy and very dependent on
• 2:45
  Speaker 1: their investment advisor to provide that guidance and because we're
• 2:49
  Speaker 1: not advisors and we provide more so of an independent
• 2:52
  Speaker 1: outlook on their investments. We give them the truth from
• 2:56
  Speaker 1: our perspective and understanding of what their intentions are, what
• 3:02
  Speaker 1: their intended strategies are, what their suitability needs are, and
• 3:06
  Speaker 1: just given an independent oversight on their investment strategies.
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  Speaker 3: Mm hmm. Okay, So you're kind of like outside the
• 3:15
  Speaker 3: system then, if you will as right, absolutely, you're not
• 3:21
  Speaker 3: in the government and you're not with the banks and
• 3:25
  Speaker 3: the financial institutions. So what do you think the priorities
• 3:29
  Speaker 3: are of the current administration as far as regulation is
• 3:34
  Speaker 3: concerned and as far as yeah, basically as far as
• 3:43
  Speaker 3: where their where their goals are, what what's their strategy.
• 3:47
  Speaker 1: Well, obviously, based on all the needs that we're looking at,
• 3:50
  Speaker 1: deregulation is.
• 3:52
  Speaker 4: At the top of the priority list.
• 3:54
  Speaker 1: I believe that you know, this administration is also taking
• 3:57
  Speaker 1: an independent approach on overseas how the government was monitoring
• 4:02
  Speaker 1: these financial institutions, and based on what I'm looking at,
• 4:07
  Speaker 1: it appears that you know, there was a lot of misuse,
• 4:09
  Speaker 1: a lot of misspending, a lot of abuse of power
• 4:12
  Speaker 1: in the past administration. And I think this current administration
• 4:17
  Speaker 1: is trying to reverse those effects and bring a little
• 4:19
  Speaker 1: bit of balance to the market because I believe just
• 4:22
  Speaker 1: with the overhaul of regulation in the past couple of years,
• 4:26
  Speaker 1: it put a little bit of a strangle on some
• 4:29
  Speaker 1: of these companies to be compliant based on all the
• 4:34
  Speaker 1: increased rules and regulations, and some of those costs are
• 4:38
  Speaker 1: brought to the investors. The investors feel a lot of
• 4:42
  Speaker 1: the pressures of regulation because if government is required additional regulation,
• 4:47
  Speaker 1: that means companies are spending more money on regulation.
• 4:50
  Speaker 4: That means an increase and the.
• 4:53
  Speaker 1: Cost of the financial products that are being sold to
• 4:56
  Speaker 1: these investors.
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  Speaker 3: Okay, I'll buy that. So what's our alternative here though,
• 5:02
  Speaker 3: because we know we just have to go back and
• 5:04
  Speaker 3: look at the financial crisis of eight nine and the
• 5:09
  Speaker 3: resulting recession that came from that, that these banks are
• 5:15
  Speaker 3: not to be trusted.
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  Speaker 1: Well, I completely agree that there has to be some
• 5:19
  Speaker 1: form of regulation, absolutely, because you can't trust anybody, not
• 5:24
  Speaker 1: as we're seeing, you know, some of the government can't
• 5:27
  Speaker 1: be trusted because it could be misspent that at exactly exactly,
• 5:33
  Speaker 1: So I believe that there should be a balance. They
• 5:36
  Speaker 1: shouldn't completely remove regulation, but they should take a visit
• 5:40
  Speaker 1: at the rules and the laws and those that are
• 5:43
  Speaker 1: actually helpful and those that are actually not helpful, and
• 5:48
  Speaker 1: rebalance our approach to regulation. Not remove regulation, not get
• 5:54
  Speaker 1: rid of regulation, but review regulation and determine which ones
• 5:58
  Speaker 1: are actually working in the best interest of the investors
• 6:01
  Speaker 1: and which ones are actually strangling the financial markets, which
• 6:04
  Speaker 1: could have a direct negative impact on the economy.
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  Speaker 3: And you know, like the one problem I've always had
• 6:11
  Speaker 3: with regulation is is to say, what's in the best
• 6:14
  Speaker 3: interest of investors. Yes, if you're stealing their money, that's
• 6:18
  Speaker 3: obvious that there's one thousand and one other practices that
• 6:22
  Speaker 3: take place where they're not so clear cut, you.
• 6:26
  Speaker 1: Know, absolutely, That's why I think they should be a
• 6:30
  Speaker 1: consistent revisit, maybe revisits annually. I kind of could appreciate,
• 6:36
  Speaker 1: I won't completely agree with everything that DOGE is doing,
• 6:40
  Speaker 1: but I can appreciate an independent oversight, someone that's outside
• 6:45
  Speaker 1: of the government and very similar to my company, that
• 6:48
  Speaker 1: just takes a look at what's going on from a
• 6:51
  Speaker 1: subjective eye and gives their opinion on what things they
• 6:56
  Speaker 1: believe can be restructured. And I also believe that it
• 7:00
  Speaker 1: shouldn't wait another four years till we revisit it. It
• 7:03
  Speaker 1: should be an annual review of what's actually working, what's
• 7:07
  Speaker 1: not working.
• 7:08
  Speaker 3: Zero based budgeting and the like. You know, the interesting
• 7:13
  Speaker 3: thing is we've got these auditors, you know, the government,
• 7:16
  Speaker 3: accounting office, office, personnel management, all of that, but they
• 7:22
  Speaker 3: run audits and even Congress and then they never do anything.
• 7:26
  Speaker 3: Nothing is ever done with the results of those audits,
• 7:30
  Speaker 3: at least doge whether you like it or not. They're
• 7:34
  Speaker 3: implementing their findings.
• 7:36
  Speaker 4: Right, correct.
• 7:37
  Speaker 1: And it's all about implementation because you can run an
• 7:40
  Speaker 1: audit just to ensure that you're running the audit right,
• 7:43
  Speaker 1: to keep you know, the confidence of the economy there.
• 7:47
  Speaker 1: But if you're not implementing anything based on the results,
• 7:50
  Speaker 1: what's the actual purpose of running the audits?
• 7:52
  Speaker 4: You can consider that a waste of resources.
• 7:56
  Speaker 1: If you're not implementing any changes or making and the
• 8:00
  Speaker 1: adjustments to ensure that it's actually working better.
• 8:04
  Speaker 3: Yeah, and we've seen this like in you know, I
• 8:09
  Speaker 3: forget what committee it was or who said it, but
• 8:12
  Speaker 3: that the government was paying out improper payments somewhere between
• 8:17
  Speaker 3: two hundred and fifty million and five hundred two hundred
• 8:23
  Speaker 3: and fifty to five hundred fifty billion dollars in improper
• 8:28
  Speaker 3: payments annually, and nobody ever saw fit to do anything about.
• 8:32
  Speaker 1: This exactly exactly, And I think that it's going to
• 8:36
  Speaker 1: hurt a little bit in the initial phases, but ultimately
• 8:40
  Speaker 1: it'll bring balance because you're bringing more money back to government,
• 8:44
  Speaker 1: which ultimately means more money into the economy. And again,
• 8:50
  Speaker 1: if you're finding out these things, they think about how
• 8:52
  Speaker 1: long these things are going on. Dose was just implemented
• 8:56
  Speaker 1: very recently, in less than two months. We're uncovering all
• 9:01
  Speaker 1: of these issues and all of this misspending. Think about
• 9:04
  Speaker 1: what's happening in the last ten years, whether Republicans or
• 9:07
  Speaker 1: Democrats were in office, there could have been tremendous amount
• 9:11
  Speaker 1: of mismanagement and we just didn't do anything about it
• 9:15
  Speaker 1: or didn't implement anything after we determined that this money
• 9:20
  Speaker 1: was being spent. So I think that it's initially going
• 9:23
  Speaker 1: to be painful because restructuring and change is always a
• 9:26
  Speaker 1: little painful, but ultimately it'll work in our favor.
• 9:30
  Speaker 3: Yeah, yeah, So how much money do you think doads
• 9:33
  Speaker 3: can really save here?
• 9:36
  Speaker 1: Well, just based on what I'm seeing, it could be billions.
• 9:39
  Speaker 4: We're already pulling on the billions.
• 9:42
  Speaker 3: Yeah, all right, so hundreds of billions just go under
• 9:46
  Speaker 3: the toilet every year. So do you think these cutbacks
• 9:50
  Speaker 3: could cause a recession?
• 9:52
  Speaker 4: Possibly?
• 9:52
  Speaker 1: We can't rule out the discussions of recession again with
• 9:56
  Speaker 1: these tarots in addition to the misspending, these are all
• 10:03
  Speaker 1: indicators of possible recession. So we cannot rule out recession,
• 10:08
  Speaker 1: but we can't rule out that ultimately this economy will
• 10:12
  Speaker 1: flourish because we're uncovering these things, and because we're uncovering it,
• 10:17
  Speaker 1: it can cause a tremendous uh.
• 10:20
  Speaker 4: Downfall in the markets leading to recession. But I think
• 10:24
  Speaker 4: that that that's what the administration wants.
• 10:27
  Speaker 1: The administration wants to uncover things, even if it leads
• 10:29
  Speaker 1: to recession.
• 10:30
  Speaker 4: It's kind of pull the band aid right.
• 10:33
  Speaker 1: Off kind of approach that I believe that this administration
• 10:36
  Speaker 1: is taking.
• 10:37
  Speaker 3: Yeah, well, I guess with the deficit, out of control
• 10:41
  Speaker 3: spending all of that stuff, we've reached the tipping point
• 10:45
  Speaker 3: where this has to be done or the country is
• 10:47
  Speaker 3: going to fail, the economy will collapse, and anarchy probably
• 10:52
  Speaker 3: won't be much further off.
• 10:54
  Speaker 1: Absolutely, I can completely completely agree with that. Where we're
• 10:58
  Speaker 1: living in some very scary times just based on the
• 11:01
  Speaker 1: spending we're in tremendous that possible defaults could loom approaching
• 11:10
  Speaker 1: the third quarter, and I think that this administration is
• 11:13
  Speaker 1: trying to get a hold of it, and they're they're
• 11:15
  Speaker 1: looking at things that they believe can resolve the issues
• 11:19
  Speaker 1: that the economy has been having for the last couple
• 11:23
  Speaker 1: of years.
• 11:25
  Speaker 3: Yep, Well, we're definitely in interesting times here. And when
• 11:32
  Speaker 3: we have this conversation a year or two from now, oh,
• 11:36
  Speaker 3: what do you think the state of things will be?
• 11:39
  Speaker 1: In my opinion, I think it will be tremendously different
• 11:42
  Speaker 1: and much better in many ways, because again we're we're
• 11:48
  Speaker 1: looking at how much the government was misspending. And that's
• 11:53
  Speaker 1: that's the basis in the foundation of our economy, the government, right,
• 11:58
  Speaker 1: so once we're not exactly exactly we depend on the government,
• 12:06
  Speaker 1: and the government has been conducting the misspending just based
• 12:09
  Speaker 1: on some of the discoveries that the DOGE team has had.
• 12:13
  Speaker 4: And you know, I was reading an article the other
• 12:16
  Speaker 4: day and it's.
• 12:17
  Speaker 1: Three hundred and fifty million dollars in PPP loans to children.
• 12:21
  Speaker 3: Yeah, eleven years and younger exactly. You know, at first
• 12:26
  Speaker 3: they said, well, we got twenty million people who are
• 12:29
  Speaker 3: on social Security who are one hundred and ten years
• 12:34
  Speaker 3: and older one hundred and twelve. But as it turned out,
• 12:36
  Speaker 3: they're not really collecting checks, but because they're listed as live,
• 12:42
  Speaker 3: when the other agencies of government go to check up
• 12:45
  Speaker 3: on them to see if it's a real social it
• 12:49
  Speaker 3: comes back as active, and then that becomes the basis
• 12:53
  Speaker 3: for defrauding other benefits programs.
• 12:57
  Speaker 1: Right, correct, correct, And you know, it's a little scary
• 13:01
  Speaker 1: to know that some of those things were going on
• 13:04
  Speaker 1: for so long. I know that you just reading some
• 13:07
  Speaker 1: of the articles. They found somebody that was collecting social
• 13:10
  Speaker 1: security that was over three hundred years old.
• 13:12
  Speaker 4: It's older than which, well, say.
• 13:15
  Speaker 3: There's mistakes in the data.
• 13:17
  Speaker 4: The data.
• 13:17
  Speaker 3: Government data is very dirty. And but the point is
• 13:22
  Speaker 3: that they said that when they discovered all those millions
• 13:26
  Speaker 3: of people who were probably dead but listed as active,
• 13:30
  Speaker 3: very few of them were actually getting paid. But like
• 13:33
  Speaker 3: you said, the other that's active social security number becomes
• 13:39
  Speaker 3: the basis for additional fraudulent activities. And they said at
• 13:45
  Speaker 3: the time it would cost them five billion dollars to
• 13:48
  Speaker 3: update their database, which sounds like total garbage. So they said,
• 13:52
  Speaker 3: we're not going to bother, which was an active, complete
• 13:55
  Speaker 3: insanity here.
• 13:56
  Speaker 1: Gerson correct, correct, I can definitely agree, and that's why
• 14:01
  Speaker 1: we go back to regulation. So there should definitely be
• 14:05
  Speaker 1: regulation and should be oversight, but that should also include
• 14:09
  Speaker 1: oversight on the government. It should be oversight on big
• 14:12
  Speaker 1: bat to be oversight on the government, because that's how
• 14:17
  Speaker 1: I believe balance could be brought. You can just leave
• 14:20
  Speaker 1: it to one party to conduct the oversight. It has
• 14:24
  Speaker 1: to be overall over site of the entire country.
• 14:28
  Speaker 3: Yeah, yeah, yeah. And you know I said the second
• 14:34
  Speaker 3: I saw it, I said, we need we don't need
• 14:36
  Speaker 3: We don't just need DOGE. We need DOOON. The Department
• 14:41
  Speaker 3: of United Nations Efficiency, and any any agency that's spending
• 14:47
  Speaker 3: more than a few million dollars needs its own DOGE
• 14:51
  Speaker 3: because you know, what's happening at the federal level is
• 14:56
  Speaker 3: happening all over the place, right.
• 14:59
  Speaker 1: Correct, Correct, I definitely agree with that, And I understand
• 15:04
  Speaker 1: people's reluxance and see because of Elon Musk and his
• 15:08
  Speaker 1: popularity outside of government, right, I could understand some of
• 15:11
  Speaker 1: the reluctancy, but I believe the overall approach is a
• 15:17
  Speaker 1: good one outside of Elon Musk and who he is
• 15:23
  Speaker 1: being the richest person on the planet. I believe that
• 15:27
  Speaker 1: it's it's good to have an independent oversight of government
• 15:32
  Speaker 1: and of companies.
• 15:34
  Speaker 3: M hm yep. Now, I could not agree with you more.
• 15:39
  Speaker 3: And unfortunately, or fortunately, as the case may be, I
• 15:43
  Speaker 3: don't know. The fact is that that really there's nobody
• 15:50
  Speaker 3: else out there who is able to do this but
• 15:54
  Speaker 3: Elon Musk with his knowledge of systems and his ability
• 15:58
  Speaker 3: to assemble world class teams to take on projects. And
• 16:05
  Speaker 3: you know, I'm always reminded by the late great Robert
• 16:10
  Speaker 3: Moses who said, if you want to make an omelet,
• 16:13
  Speaker 3: you got to break some eggs.
• 16:15
  Speaker 1: Right, exactly, exactly. And who's more qualified than a person
• 16:20
  Speaker 1: that doesn't need.
• 16:21
  Speaker 4: The money or the popularity? Oh yeah, right, truly dependent.
• 16:26
  Speaker 3: Yeah, the arguments they're making against them, like Elon Musk
• 16:31
  Speaker 3: is the identity thief, identity thief and chief, you know,
• 16:37
  Speaker 3: like he wants your data. Like, believe me, if Elon
• 16:40
  Speaker 3: Musk wanted your data, he didn't need to go to
• 16:43
  Speaker 3: the government to get it. There's a lot of other
• 16:45
  Speaker 3: places where you can you know, you can get that, right.
• 16:53
  Speaker 4: I agree.
• 16:53
  Speaker 1: This guy he brought Twitter now known as x so
• 16:58
  Speaker 1: everybody's on there, so he already had he already had it,
• 17:02
  Speaker 1: and I think that just based on his knowledge on technology,
• 17:08
  Speaker 1: it could it could also bring tremendous benefit to government
• 17:12
  Speaker 1: because everybody knows government's technology is tremendously outdated. That can
• 17:17
  Speaker 1: be a true cause of some of these oversights to
• 17:19
  Speaker 1: just outdated technology. But with this boom and AI and
• 17:23
  Speaker 1: what the role that he plays in the technology sector,
• 17:27
  Speaker 1: I think it can be tremendously beneficial to how we
• 17:33
  Speaker 1: conduct an oversight on our government utilizing technology.
• 17:37
  Speaker 3: Yeah, and AI all of it, and yeah, the government
• 17:41
  Speaker 3: is so far behind. And maybe I don't want the
• 17:45
  Speaker 3: irs using AI because maybe you know, but look at
• 17:50
  Speaker 3: the thought of reimagining government. It's it's really been too
• 17:55
  Speaker 3: long in the making. You know, our government really works
• 17:59
  Speaker 3: the same way it did in when the country was
• 18:02
  Speaker 3: founded with computers, right, but it's really right the same way,
• 18:08
  Speaker 3: the same philosophy, is the same techniques, all of that,
• 18:13
  Speaker 3: and now it's about to see a dramatic change, right.
• 18:17
  Speaker 1: Correct, correct, And I think it will bring a lot
• 18:19
  Speaker 1: more efficiency.
• 18:23
  Speaker 4: We're still in the age of AI.
• 18:25
  Speaker 1: We're still, I believe, in the very beginning phases, and
• 18:29
  Speaker 1: we don't know how we're going to incorporate We're still
• 18:32
  Speaker 1: learning how to incorporate it into our lives, let alone
• 18:35
  Speaker 1: how government is going to incorporate it.
• 18:38
  Speaker 4: So I know we're at the very beginning.
• 18:40
  Speaker 1: I think there are definitely some benefits to it, especially
• 18:44
  Speaker 1: from an efficiency standpoint, but we're still learning how it's
• 18:49
  Speaker 1: going to impact things.
• 18:51
  Speaker 3: Yeah, I could not agree with you. Mark appreciate you
• 18:53
  Speaker 3: coming on the show. Regards. Why don't you tell us
• 18:56
  Speaker 3: where we find you how we connect with you on
• 18:58
  Speaker 3: the web.
• 18:59
  Speaker 1: I'm definitely again thanks for having me. The name of
• 19:02
  Speaker 1: my company is Bellet Capital. You can find us that
• 19:06
  Speaker 1: Bellet B E. L I t ecapital dot com.
• 19:12
  Speaker 3: All right, and the link is in the show notes
• 19:14
  Speaker 3: to this interview on Financial Survival Network dot com. We
• 19:18
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• 19:20
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• 19:23
  Speaker 3: other FSN community members have. And we do appreciate you
• 19:28
  Speaker 3: coming on here, Garson, enlightening us. You're out there in
• 19:32
  Speaker 3: the trenches figuring all this stuff out daily. And hey,
• 19:36
  Speaker 3: if you have any questions out there, shoot me an
• 19:38
  Speaker 3: email kl atcarrieluts dot com. Grison, we'll talk to you
• 19:41
  Speaker 3: again soon. Thanks for stopping by.
• 19:43
  Speaker 2: Thanks so THT you, Kerry, Thanks for listening to Carrie
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