Latest / Man in America Podcast / Why Raising the Debt Ceiling Won’t Prevent What’s Coming This Fall

Transcript

Why Raising the Debt Ceiling Won’t Prevent What’s Coming This Fall · Man in America Podcast

• 0:02
  Seth Holehouse: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Holehouse. So great news. We've been saved. The the beautiful politicians, they did their job, they raised the debt ceiling, and they've saved America from the impending doom of defaulting on its debt.
• 0:18
  But what does this really mean? Are we in the clear or is it kicking the can down the road? And how does this line up with what a lot of the experts are talking about in reference to what's happening this fall with the market? So there's just a lot to understand about where we're at right now. And so joining us today to help us understand is Doctor.
• 0:36
  Kirk Elliott. So we're jumping right into this topic. Folks, you're gonna enjoy this show. So let's go and get an interview with Doctor. Kirk Elliott.
• 0:44
  Kirk, as usual, it's great to have you on the show. It feels like it's been a while since we're used to doing these week long things. And yesterday was busy or sorry, last week was busy and traveling and everything. So anyway, it's it's good to have you back on the show.
• 1:00
  Speaker 2: Well, it's great to be back, and happy happy Memorial Day. Yeah. Hope you had a good did we have my son spent the the summer overseas in South Africa with YWAM. And so there's a group of kids coming through Denver for a week, and we've got like 13 of them staying at our house for a week. So it's madness at the office with all the people that we're helping because the the Biden administration is is selling America down the river, and I go home and it's busy there too.
• 1:34
  It just is what it is.
• 1:38
  Seth Holehouse: Well, I can't say I envy you with that. Yeah. At all. So well, you know, on the on the plus side, though, we've we've just solved the debt crisis in America. Our our faithful leaders have have come together in unity on Memorial Day, you know, you know, kind of weekend.
• 1:57
  What a beautiful time for them to come together and save us from the the, you know, demise of defaulting on our debt. Right? Or that's what they want us to think. Right?
• 2:09
  Speaker 2: That's what they want us to think. But but here's here's the thing. Only in America under Bidenomics for America does adding more debt get you out of debt. Doesn't work in real life, right? It just simply doesn't work.
• 2:26
  It's just going to make matters worse. So what they just did is, yeah, they might have fended off bankruptcy for America, which was supposed to come in the next couple of days, right, when the debt ceiling expired and they still have all these expenses. Like June 1, I mean, if you look at the numbers, 108 well, the ratio was 108 to 11. Meaning for every 108 being spent, only $11 of revenue were coming in. You look at June 2, the math is similar.
• 3:05
  Right? It's like, oh my word, how in the world were they going to do this? But you look at what the expenses were. Now, we're talking hundreds of millions of dollars every single day that being spent. Well, this is veterans health benefits, veterans retirement benefits, Social Security, government workers retirement.
• 3:26
  Right? So here's where you and I have talked before about this debt ceiling raise. You know, we've taken a couple of weeks off, but we were talking about this beforehand because this has been the political hot potato for about a month now. Right. And Biden's been in Japan at the G7 meetings rather than talking to McCarthy about the debt ceiling, which just goes to show where his heart and mind is.
• 3:50
  It's like it's with the world, not with America. Right? I mean, that's kind of where where his motive is in building this this global communist fascist takeover of our bank accounts and of our life and, you know, planning this. I mean, this is what what Biden's up to. And then you've got at the same time, people, good people, amazing people in America are going to be hurt because of political gross mismanagement of our money.
• 4:18
  Right. I mean, do I feel bad for all of our military and people on Social Security, retirees and people that need benefits of some sort, right, that they paid their whole life into to receive retirement benefits. I mean, this is what Social Security is. It's not necessarily an entitlement, right? It's something that you pay into that you should receive.
• 4:41
  Well, if they didn't raise the debt ceiling, they weren't going to get it. So here's where the battle commenced, right? Because and the Democrats almost had the ace up their sleeve on this one because they could say coming into pre election season, they could say, Hey, look, you nasty GOP, you didn't want to raise the debt ceiling and all of these people weren't going to get their retirements. It's your fault. And Janet Yellen actually tipped the scales even further because she was was blustering that if you don't raise the debt ceiling GOP, the stock market's going to come down 45%.
• 5:19
  Okay, so she said that two weeks ago, right before Biden decided to go to Japan for a bit. Well, it's like, so I'm thinking, wait a second, raising the debt ceiling has nothing to do with the stock market collapse. The stock market collapse is coming because of lowering wages, rising prices, rising taxes, rising cost of borrowing, all Biden's policies. Right. But this is a good this is a good scapegoat, a good excuse that we can blame the GOP for the stock market failure going into a pre election season.
• 5:49
  Right. So it's like, Okay, let's blame them. Or they raise the debt ceiling. And it was all this public fight between McCarthy and Biden for the last few weeks. So then they can say, look, the GOP, they didn't want to raise the debt ceiling.
• 6:05
  All of you people who now are getting your retirement, your benefits, it's like the GOP did not want you to have them, but we fought and we fought hard, and we won and we got it done for you. So therefore, go ahead and vote for us. And that's the
• 6:18
  Seth Holehouse: traditional model of how to take over a country is build the welfare state, get everyone hooked on the government's teat. And then when someone comes in and say, hey, we need less government, you know, whether they're libertarians or conservatives or, you know, really even, you know, smart democrats or smart liberals, then they can it's so easy to say, they want to take away your retirement. They want to take away your Social Security. It becomes a great political tool with them. But, you know, I want to bring up this article that so this is something you sent me.
• 6:48
  This is for Ron DeSantis talking about this, saying that The US is still careening towards bankruptcy, right, after this debt ceiling deal. And I wanna get your thoughts on this because I know that, you know, Yellen's out there and she was making, you know, threatening saying, hey, we could see the stock market come down 40%. But there's a lot of the folks that I'm following that I've even interviewed, you know, even brilliant minds like Martin Armstrong or Charles Niner or Cliff High that are had even before the whole debt ceiling kind of debacle were saying that, look, this fall, we were we're gonna, you know, basically, in some ways be entering into a serious depression, recession, etcetera, and saying that, you know even at Dowd is another one. Also saying that, look, we you know, we'll most likely see the markets lose thirty, forty, 50 percent. Right?
• 7:46
  So, you know, this is again, they wanna it's all political. Right? It's all political theater. They wanna say, look, you know, we saved your retirement and everything, but they're not talking about, like, what's really coming and what, again, what a lot of experts are saying is coming this fall. So what do you see?
• 8:02
  Like, what do you still see that's happening in the background that's moving forward regardless of what's happening with this debt ceiling?
• 8:11
  Speaker 2: So you look at the bigger overall picture of debt compared to our productivity as a nation, right, which should be gross domestic product. So these aren't good odds, Seth. They're they're really not. So, you know, when you have odds like this, you should you should never ever ever go to Vegas. Not that anybody ever should anyways.
• 8:30
  Right? But but throughout history, when a country's debt surpasses their gross domestic product as a nation, that that nation never recovers from that. Like a % of the time, the currency changes, they go bankrupt, something happens. Right? So you look back like to 1960, our debt to GDP ratio was 52%.
• 8:55
  So our debt was 52% of our GDP. In 1980, it was 34%. In February, it was 57%. Now those are twenty year spans. Right?
• 9:07
  So 1960, it was '52, '19 '80, it was '34, '2 thousand, it was 57. Today, it's 120. So we've surpassed our total gross domestic product is now debt is 120% of that. Mathematically, this has never been done. Country has never survived that kind of extreme debt because it's mathematically impossible to pay off debt when it's actually more than the entire productivity of a nation.
• 9:39
  Now, you couple that with a rising interest rate cycle to slow down inflation that they're creating because what they just did on this debt ceiling raise was increased our debt by $4,000,000,000,000 They raised the debt ceiling by 4,000,000,000,000. Well, you you you look at the more macro picture of of the economy. So so wages are coming down right now under Biden's amazing plan for America. They're they're coming down while interest rates are going up. So the cost of borrowing is going up.
• 10:11
  Prices are going up, which makes people living at the margin, which is pretty much everybody harder to to make ends meet every month. Right? So you've got rising taxes, rising interest rates, rising inflation, declining wages. Not a good recipe for success. So let's play that out just a little bit.
• 10:31
  When when people aren't working as much, you know, unemployment is through the roof. Oh, but, Kurt, no. Biden's Biden just said that that unemployment came from 3.5 to 3.4%. It's like, oh, really now? Then then why did the big tech companies lay off a 94,000 people in the first four months of this year when all of last year, they laid off a 65,000?
• 10:57
  We're already 30,000 more people in the first four months of this year than all of last year in its entirety, and it keeps going and it keeps going. And you've got big, huge, massive companies like Google and Microsoft and Lyft laying off 20% of its workforce. It's like boom, boom. It's just this constant barrage of people not working. But yet they expect us to believe that unemployment came down when Bed Bath and Beyond just went bankrupt and there's companies going bankrupt all over the country.
• 11:27
  Well, they do that. They fudge the numbers to basically say, hey, if you're so discouraged that you stop looking for work, we'll just pull you out. So those people are obviously still unemployed. They got so discouraged from beating the sidewalks week after week after week, pounding on every single door that they can. Not nobody's hiring them because the economy is not good.
• 11:48
  Employers don't wanna hire anybody right now that they get so discouraged and said, I'll just live off of some kind of government handout for a bit. I'm I'm gonna stop looking for a job. I'm tired. Can't nobody's hiring. There's simply nobody hiring.
• 12:03
  So the government says you are no longer unemployed because you voluntarily stopped looking for work. So this is how they fudge the numbers. So when you have that going on, what's gonna decrease? Income taxes. So if people aren't working, government income taxes are coming down.
• 12:21
  If people aren't working, sales tax revenues come down. So at the municipal level, there's not enough government revenue coming in to pay for basic services. As people aren't working, property tax revenues are going to come down because people can't afford to buy a house. Right? So across the board, government revenue streams are coming down under this plan for America.
• 12:42
  But yet what's going up? Prices, taxes, interest rates, the debt ceiling, right? When we're already at 120% of our gross domestic product is now debt, mathematically, it's impossible to pay that back. Why? Because I just explained how declining revenues, the money isn't there to actually fund higher debt, which is why once you go beyond that that gross domestic product level, countries, they get a change in currency, they get a change in system, they get there's a reset.
• 13:15
  Something needs to be done and you can't do it through normal lowering taxes, lowering interest rates, creating jobs, everything you would normally do to stimulate an economy, it's hard to get that done. In fact, history has shown us it's impossible to get that done when you get to this point of extreme debt.
• 13:37
  Seth Holehouse: And so with all that kind of stacked together, and this isn't even getting into the whole de dollarization and bricks, and there's that's a whole other can of worms. I mean, again, know that no one has a crystal ball, but, you know, what's your kind of feeling? Like, what what what do you think things are gonna be doing as we head into the fall? Alright, folks. I've got a quick message for you.
• 14:00
  I have one simple question. If today you could no longer go purchase more food for your family, with the food stores that you have in your home, how long would you be able to feed your family? Would it be a week, three weeks, a month, two months, a year? This is a really important question folks that we have to be very realistic about because the elites are proactively trying to put us into a state of food crisis and a state of famine. I'm sure you've seen all of the different food processing plants and farms that are blowing up.
• 14:33
  You've got cattle dying by the tens of thousands. They're proactively trying to collapse our food system because they know if they can control our food, they can control us. And so one of the best ways to be outside of their control is to be able to have our own stores of food and to be able to produce our own food. So there's really two things I would recommend. One is having heirloom seeds that you can grow your own food with, making sure that they're non GMO heirloom seeds.
• 15:00
  That way you can harvest your seeds this year, use them next year. You can use these seeds for generations. Literally, it's how it will work. The other thing though is this high quality storable food. This is food that's sitting somewhere.
• 15:12
  It's hidden in your basement, buried in your backyard, whatever it ever it is. So that way, if there is a crisis, if there is an emergency, you might have three months set aside to get through that time period. And so for this, I would highly recommend a company called Heaven's Harvest. This is an amazing Christian owned patriot company, and what they're doing is they're making high quality storable food. Again, a lot of the food companies, they say these food buckets, they're all about maximizing calories per dollar.
• 15:40
  They're filling the buckets with a bunch of filler and junk, like sweet beverages, etcetera. But Heaven's Harvest, they focus on very high quality food that will last up to twenty five years on the shelf. They also sell heirloom seeds. You can buy all of your seed. You can buy all of your restorable food.
• 15:57
  And look folks, personally, I would recommend having at least three months per person in your household, if not six months or even a year. Again, depends on your budget, but I'll definitely make sure you have some seeds because that seed, those seeds could be worth their weight in gold, if not more in the future. So to go ahead and do this right now, go put up a new tab and go to heavensharvest.com. And if you use the promo code Seth, that's s e t h, promo code Seth, you'll save 15% off of your entire order. So again, folks, the time is running out, and you'd rather be three months or one year early than one day late.
• 16:34
  Again, heavensharvest.com and use promo code Seth to save 15% today.
• 16:41
  Speaker 2: What they just did is they just staved off the initial bankruptcy of America. But what they did is they mortgaged out the future of future generations and and even this generation's retirement because the inflationary pressures that are going to come from adding another $4,000,000,000,000 to the national debt. So you you look at what the national debt is right now. It's it's 31,000,000,000,000. K?
• 17:06
  So let's put this into perspective. From 1776 until today, what? That's that's two hundred and fifty years, you know, we went from zero to 31,000,000,000,000. They just added 4,000,000,000,000 to our debt in one year. Right?
• 17:26
  So so, I mean, this is insane. These these this massive amount of growth. This is why DeSantis, you know, was was talked about in that article saying, look, The US is headed for bankruptcy here. And I don't see how he's wrong. I truly don't see how he's wrong.
• 17:47
  So what I think is going to happen between now and the election, you know, coming up, because we're getting into pre election cycle, is is a bunch of blaming. The Democrats blaming the GOP for for not wanting to take care of people. Inflationary pressures are gonna persist because they're gonna keep printing money. And, you know, it's just gonna be this this ugly mess. And so what are people going to do?
• 18:15
  Right? They're gonna have to is is is inflationary pressures go up, people are gonna stop working because they can't spend. And if they don't spend, there's going to be more layoffs, right? Because we can't spend what we don't have. If prices are going up and taxes are going up and cost of borrowing is going up on our credit cards and everything else, people are just gonna slow down their spending.
• 18:38
  When they do that, there's gonna be more layoffs. When there's more layoffs, people are going to pull money out of their banking accounts, but nuts. There's no money left in the banks. Right? Because if you go back to March of twenty twenty when the Federal Reserve changed the reserve requirement to zero, right, zero.
• 18:56
  Banks don't have to have any money on hand to fund you cutting checks or withdrawing funds from your savings account. They do that to try to stimulate the economy. So banks can take 100 of your dollars of your checking deposits. Right? So let's say you you deposit a hundred bucks.
• 19:14
  They can take all 100 of it and invest into something else to try to stimulate the economy, try to make money more money for banks. Well, that's that's a fool's game, right? Because ultimately, people are gonna wanna make withdrawals, wanna cut checks on it, and they're just hoping that not everybody does it at the same time. That's what these bankers are hoping and praying for. But now under this horrible economy that we have under the Biden administration, that whole game is going to come crashing in because it's like, well, now people aren't working.
• 19:47
  They're pulling money out. People don't trust the banking system because there's already been bank failures because of the 0% reserve requirement policy. So now this contagion spreads, right? And so I think what we'll see happen is more and more banks going under between now and the fall, and especially between now and the next election cycle. And what we're seeing is consolidation in the banks.
• 20:12
  So the big banks are buying up medium banks, and medium banks are buying up small banks, right, because there needs to be consolidation of power for them to usher in their solution, which is central bank digital currency. Right. So so this is this is a problem. But but you and I were talking off air this weekend and we were talking about a video that we had shown months ago from the FDIC. Right?
• 20:43
  And in this video, the FDIC people are kind of going bickering back and forth. It's like we can't we can't let the public know about this. It's going to have unintended consequences. Well, what was it that they were talking about? They were talking about, a, the FDIC being underfunded and b, no capital in the banks.
• 21:02
  So if people realize, two pronged approach here, that there's no capital in the banks, there's gonna be a run on the banks. If people realize that the FDIC is underfunded, oh, there's gonna be a run on the banks. Either way, which is chicken or the egg, there's going to be a run on the banks. And we talked about this prior to Silicon Valley Bank happening. So, yeah, there will be a run on the banks.
• 21:22
  Right? And sure enough, there was.
• 21:24
  Seth Holehouse: And, actually, Kirk, I've got that video ready to pull up here because it was Let's
• 21:27
  Speaker 2: watch it. Let's watch that.
• 21:28
  Seth Holehouse: Just I think it's maybe one or two minutes. This is this is crazy. And the fact that this is from last year, and then you and I were covering this extensively earlier this year before there were any bank runs and saying, look, folks, they're already preparing for what's coming. They're talking about this as if it's gonna be knew it was gonna happen. And and you look back, can see their language.
• 21:48
  Like, they knew exactly what was coming out of the pipeline. So anyway, let me go and play this for folks.
• 21:54
  Speaker 3: It's important that people understand they can be bailed in, but you don't want a huge run on the institution. But they I mean, they're going to be. That's and and it could be an early warning signal to the FDIC and the primary regulators when these things happen. It should
• 22:12
  Speaker 4: be accessible when people need to know, but I don't think you have much hope of reaching a public that doesn't have a professional need to know. I completely
• 22:25
  Speaker 3: agree with that. I almost think you'd scare the public.
• 22:28
  Speaker 5: These large too big to fail commercial banks are
• 22:32
  Speaker 6: more or
• 22:33
  Speaker 5: less being backstopped and guaranteed by the Federal Reserve. Well, the rest of the banks, as we were told by Janet Yellen, if they're not too systemically large as the majority of them are not, they won't be bailed out. They'll be bailed in.
• 22:50
  Seth Holehouse: So and that's a good friend of mine, Andy Schechman, with Robert Kiyosaki on there. And he made a really good point, and and this is it's almost like, you know, if you look at the art of war, you know, and I've been fascinated by ancient Chinese history, and there was a war move they called the pincher movement. Right? And it's really it's kind of like you're you're closing in from both sides, not leaving the enemy an option. Right?
• 23:16
  And so what I see happening here is, in a lot of ways, a pincher movement. It's like they're I think in a lot of ways, intentionally leading to the collapse and the failure of the small to medium banks, especially the ones that are publicly publicly traded. We're saying that that usually ties in with it very closely that, okay, their stocks are down 40 today. You know, people are leaving the bank. So they're closing down these banks.
• 23:45
  The ones that are worthy in their eyes get bought up by the giants like JPMorgan Chase. The ones that are unworthy though, they're gonna take those and bail them in. Right? As Andy was saying. Right?
• 23:56
  So it's kind of like so if you're in that situation, it's either a, they just take your money outright through a bail in, which is criminal, but, you know, we we live under an occupied government. Or b, your bank gets sold to JPMorgan. And then before you know it, six months later, JPMorgan comes out and says, okay. We're, you know, we're now working, you know, we're we're, you know, everyone knows we've been working everyone knows we've been working with the federal government and the Federal Reserve, and we're now gonna be officially rolling out our central bank digital currency and converting your accounts to central bank digital currency. So really, it's almost like unless you're outside that system, they're not really giving you room to escape, which is I mean, this is this is war, and they're not idiots.
• 24:39
  They know what they're doing. So they're they're forcing people down this path where either you've you lose everything or you end up being forced into a central bank digital currency. I mean, am I a whack job, you know, tinfoil hat guy for thinking that's what's happening?
• 24:55
  Speaker 2: No. I mean, this is this is what they're doing. Right? So so here, if you want to bring in something that's so egregiously bad that that nobody would want it, you have to create a crisis that's bad enough to make people want what you've got. Right?
• 25:10
  So because, I mean, you're you're a good business guy, Seth. You're you're a good marketer and and you are great at telling stories, right? This is what communicators do. So imagine telling this story. Let's say you worked for the Fed or for the government and said, Okay, we are the government, which nobody trusts the government, that's running a digital bank, but nobody trusts banks.
• 25:35
  That's actually said that we want to stop you from buying or selling if we don't like your digital social profile. It's like, oof, It's like the trifecta of three horrible things that nobody wants, but yet that's what they're selling. Right? So it's like who in their right mind would want a government run digital bank that has the ability to cut you off from buying or selling if they don't like you? It's like, oh, yeah.
• 25:55
  Count me in. That sounds amazing. Right? So this is their story that they have to sell. So what do they do?
• 26:02
  They're gonna force compliance. They're gonna force people into it. But it's hard. When you've got a lot of really smart, patriotic owners of banks, you know, at these independent bank levels and community banks, there's thousands of them. Right?
• 26:17
  But it's like, well, they're not gonna take the Fed Now app. They're not gonna play part of this game. They don't want to. But if there's a banking crisis that's big enough, these banks start to go under. So when the banks go under, the medium banks are buying up all these small ones.
• 26:31
  And then when the medium regional banks like Silicon Valley, Signature Bank, KeyBank, you know, First Republic, which was actually big, That was the fourteenth largest bank in America. It's not like they were super small, but they bought got bought out by Chase. So there's this massive consolidation happening because it's really easy to to actually bring something in when there's only six or seven people to try to convince rather than thousands. Right? So this is what's happening in the banking system.
• 27:00
  And when you see that kind of consolidation and people are now afraid that the safest asset in the world, their checking account, they think it's not tied to the stock market, it's not tied to the bond market. They're just sitting on the sideline in cash riding out this storm. That's a that's a fool's notion. Right? Because banks invest in the same thing that you and I would.
• 27:24
  They invest into stocks, bonds, mutual funds, real estate companies. Right? Same exact thing, except it's in this fake ledger entry system of your checking account where when you give money, when you deposit money in your bank account, dollars 100,000, whatever it is, what you're doing is you're assigning ownership to the bank. It's a security instrument, and you're giving up ownership of your money to them and saying, hey, bank, you can do whatever you want with it. Just let me draw money on it as a checking account and pay me interest.
• 27:58
  You know, so it's a loan to the bank. Well, they're investing in the same garbage that you got out of. So when that whole system starts to fail, banks start to fail. And we always have to ask ourselves this one question, why do banks fail? Well, it's because they have more withdrawals coming out than deposits going in and the investments that they make are stink.
• 28:19
  Right? I mean, this is what happens. So it's no surprise to me that banks are failing, but we're going to have more banks fail because of this very scenario. But now here's the crux of that issue that the FDIC video was talking about, and that is FDIC is so under insured. As you can see on like the lower thirds of that first video, the FDIC has a 25,000,000,000 in assets.
• 28:45
  Hundred and 25,000,000,000. Okay. How many deposits? Savings accounts, checking accounts, CDs, you know, liquid assets in America. How many are there in The US banking system?
• 28:55
  17,500,000,000,000.0. So you've got a hundred and 25,000,000,000 of the FDIC to cover 17,500,000,000,000.0. That's a whopping point 7% of all deposits in America are covered with FDIC. Forget about the $250,000 threshold of insurance. It's point 7%.
• 29:18
  So, you know, ride this out. How much does it take of people pulling money out of the system to create a bank run? Point 7% of people's deposits coming out would cause banks to actually start to fail, because if more than that fails, now FDIC has run out of money. Right. So this is the problem.
• 29:40
  And this is that unintended consequences that we don't want to let the public know about this statement. Right. When when only point 7% of all bank assets are covered. Are you joking? Right?
• 29:54
  I mean, this is not the insurance policy that people want on the safest asset in the world, their cash. It's not anymore. And and even five, six months ago, you know, as I think the world has changed completely in that time frame because I would tell people, hey, look, if if you're looking for pecking order of safety in banks, the safest is is probably credit unions because they're owned by the members. You know, it's always a dangerous statement to say, you know, when you don't know the intricacies of every individual bank's asset base, right, and liabilities. But overall, a credit union should be safer because they're owned by the members.
• 30:34
  They're never gonna do anything crazy, or else they'd have a mutiny on their hands. Second would be like regional banks because they have a little more capital than just a one off bank, but they don't have enough to actually have international derivatives exposure. And the ones I would stay away from are the big nasty, the big five, you know, JPMorgan Chase, Bank of America, Citi, Wells Fargo, Capital One, because they have so much international derivatives exposure that they're absolutely toxic. Same as your little local one off mom and pop branches that don't have enough capital to withstand a storm. But, oh, this has all changed with Silicon Valley Bank.
• 31:11
  Now the regional banks, especially ones on the West Coast that have a high company, you know, loan rate into the tech world as companies are failing or large, you know, percentage of mortgages. Well, they're starting to fail because most of the bank failures that we've seen have all been West Coast banks, Silicon Valley, Signature, right? And it's because of the makeup of their investments. So now regional banks aren't even safe and say, man, what do we do? What comes next?
• 31:43
  Well, what comes next is the system that they want us to have. When all else is failing, they come in with an answer, central bank digital currency, and people would be willing to give up their freedoms in exchange for peace so they can feed their family. This is how I see. I know it's a very long answer to your really short question of how do you see the rest of this year looking. I see that part playing itself out, I don't think that that's a good outcome.
• 32:13
  But in an election year, expect to see crazy stuff like that happen because anybody that comes up with even the promise of a solution will probably get elected, right? Because this is how Hitler got elected. You know, Hitler didn't hold a gun to people's heads after the Weimar Republic hyperinflation when mommies and daddies couldn't afford to feed their babies, and they were putting them on stairs of fire departments and saying, we can't feed our family because of of international political movements of nongovernmental organizations. Right? The after World War one, Germany, you know, was king of the world.
• 32:52
  Right? And then they had all these war debts because the Treaty of Versailles came in, an international treaty with the League of Nations or whatever was around back then said, hey, you've got to repay your war debts, Germany. It's like, what? Are you kidding me? So they abandoned the gold standard on their currency.
• 33:08
  They printed without discretion. The rest of the world no longer wanted their currency. Does this sound familiar? Right? We're printing without discretion.
• 33:15
  The rest of the world doesn't want our currency. Countries are leaving the petrodollar. It's very similar. And so they went into a hyperinflation. Hitler came to power and campaigned on hope and change, said, I'll fix this inflationary mess.
• 33:28
  I'll fix it. One of the worst dictators in the history of the world got elected peacefully without holding a gun to people's head because he came in with a a promise to try to fix this situation of people not being able to feed their family. This is the concern I have when when politics start tweaking with people's lives and their pocketbooks and people will willingly give up freedoms in exchange for that perceived peace. Doesn't even need to be real, Seth. Needs to be perceived.
• 33:58
  And this is where we just need to start operating out of faith and confidence and wisdom and discernment and not listening to every voice that you hear. Right. Especially on the political side, because there is sound, rational advice to navigate through this. And none of the answers lie in, in my opinion, in the paper world, not in the banks, not in stocks, not in bonds. Right?
• 34:23
  I mean, I believe God is our provider, never man to begin with, right? But he will give us wisdom and discernment to navigate through this and give us options, and that's why I will shout it from the rooftops every single time we're on a show about silver, because I believe it's the only safe haven investment there is right now because it's tangible. It's a thing. It's real. And I will keep shouting it from the rooftops until there's nobody else that will listen, because it's that important that everybody gets out of harm's way.
• 34:54
  Because I think this political superstructure, economic superstructure that's being developed globally is going to just ravage people's portfolios unless they allocate into strength, which is why I have a smile on my face because we can. We're focused on the solution, not the storm, and getting out of harm's way.
• 35:13
  Seth Holehouse: An interesting way that I have learned to look at it, as I've looked at what's happening around us, and I've reported a lot on whether it's the diesel fuel shortage or food shortages or de dollarization, and you never know the timeline. You never do. You know, none of us are psychic. And if we are, we're not coming on these shows and revealing our our inner kind of visions of things. We'll keep it to ourselves.
• 35:36
  And so but I see this. There's two camps. Right? There's one camp, which is people say, well, it hasn't happened yet. It hasn't happened yet.
• 35:44
  So you're wrong. But my perspective is that, like, to me, all the indicators are there, that they keep building. They keep building and building and building. So whether it's food shortages, you know, skyrocketing energy energy prices, you know, great civil unrest, you know, hyperinflation, all these different things, you know, depression, whatever it is, you know, in genuine, in my heart of hearts, like, still see those things are happening, but they're on a different timeline. It's really God's timeline.
• 36:14
  And so when I look at it, I say like, well, you know, it hasn't happened yet. So the people that say it's gonna happen are wrong. I look at it and say, gosh, I feel like I've been given the gift of time because I've known about this stuff. And so we've been quietly setting aside, whether it's some extra canned food here and there, a couple ounces of silver here and there, whatever it is, I feel like that, like, because I know this, and I can see it, that the time that's been extended before I think before I really believe things are gonna really change. I think that life is gonna drastically change here in America.
• 36:49
  We're gonna get through it. I really believe we are. But a lot of the comforts that we've known for the past many decades, I think, are not gonna be here for quite some time. And so I just I really do feel, though, that it's it's a blessing to to have be in the mindset. And I think a lot of the people watching this show are in that mindset.
• 37:05
  They see what's coming. And and whether, you know, say some people are really wealthy and they're going out and they're putting up moving a giant IRA into silver, or whether someone, you know, that they don't have that and they say, you know what? I'm gonna go to Costco once a month and buy an extra $40 in canned food. To me, it's the same thing. It's people using, you know, whatever their means are to kind of really to prepare.
• 37:25
  And I think what you're doing now is you're protecting the future of your family with this. And so, you know, for you, it's silver. And I look I've looked into a ton of different things, and I've come to the same conclusion. And so like I said, so if we're at a place where, hey, we've got an extra $500 this month, it's like, okay, let's allocate that into some silver, you know, because maybe we already bought beans the month before. So if folks want to get ahold of you, you know, because I know how you work, you've got a beautiful team of people, and you're very hands on with with certain people that are calling in.
• 37:55
  What's the best way to get ahold of you? Actually, I know the best way. So there's two different options. So one is go to goldwithseth.com. So I'll pull it up for folks.
• 38:09
  Now if they're here, what do they do when they get to this this this landing page here, Kirk?
• 38:14
  Speaker 2: So you just scroll down. I mean, there's a video on there that explains a little bit about what we do. But on the bottom right side of that page, there's a form that you can fill out that just says, hey. I saw Kirk and Seth talking. You know, we have some questions and just answer, do you have a four zero one ks, an IRA?
• 38:31
  Do you have cash? Do you want to try to protect? Just fill it out. Then one of my client concierge team will call you and set up an appointment to meet, ask you a few questions because we want to match you with somebody that has a similar personality. So you really love the experience with our team.
• 38:50
  Right? So myself or one of our advisors will talk to you, dig in deep about how we can then set up a strategy moving forward to get out of the path of this hurricane. So with that, it's a lot of listening. Right? We want to listen to your fears, your aspirations, your goals, your dreams, your passions, your concerns, and then build something out based on your needs and your wants and your desires to navigate through this, to make sure that when it's all said and done, that your money outlasts you, you don't outlast your money.
• 39:20
  That's everyone's biggest fear in retirement, right? Then that's how the process starts. So you can either go there to that website, goldoseth.com, or simply call us at (720) 605-3900, and just say Seth sent me, right? So either one is a good option, and that's how the process would work, is somebody will call you back from my team and set up a time for you to meet with myself or one of my advisors.
• 39:50
  Seth Holehouse: And I'll give a quick caveat. Obviously, you and I work together. And for the viewers and listeners to the show, I can be completely transparent and honest in saying that you are the reason why I can do this. You're the reason why I can be independent, why I'm not having to go sign some deal to say, okay, won't talk about these things. It's really, you know, working together with you, and I believe in your services and your business a %.
• 40:18
  I use them myself. I recommend my family to you, But this is why. So some people say, hey, how can I support you? Well, the best way is to support the people that I work with. And Kirk, you're our number one, partner.
• 40:29
  And you really, you have allowed me to do this full time. Like this is like literally my full time job is being man in America, exposing the corruption, bringing people truth, bringing people hope. And so I really just I appreciate what you're doing and the role that you're playing. So thanks again, Kirk. I hope that, you know, folks are enjoying these shows, and I can't wait to have you back on again next week.
• 40:53
  Speaker 2: Thanks, Seth. It's great being with you as always.