Latest / Financial Survival Network / Stocks Soar, Metals Slip—What’s Next? - Michael Arries #6185

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Stocks Soar, Metals Slip—What’s Next? - Michael Arries #6185 · Financial Survival Network

• 0:00
  Speaker 4: Yeah.
• 0:00
  Speaker 1: I mean bitcoin's looking nice, it's going up in reaction.
• 0:02
  Speaker 1: I'm certainly not anti crypto. I'm just myself, from my experience,
• 0:07
  Speaker 1: very pro precious metals. I like something tangible, So not
• 0:10
  Speaker 1: against having bitcoin. It's just not a full replacement for
• 0:14
  Speaker 1: gold and silver because it's not tangible, it doesn't do
• 0:17
  Speaker 1: other things. But I mean, that's great if there's an
• 0:21
  Speaker 1: open door here for an alternative to the dollar and
• 0:24
  Speaker 1: an alternative currency in a different form of savings than
• 0:27
  Speaker 1: what is normally controlled by the financial establishment, So I
• 0:30
  Speaker 1: think that's great.
• 0:31
  Speaker 2: You are listening to Carrie Let's's Financial Survival Network, where
• 0:35
  Speaker 2: you get valuable information you just can't find anywhere else
• 0:39
  Speaker 2: to thrive in today's trying times. You need the Financial
• 0:43
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• 0:48
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• 0:52
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• 0:59
  Speaker 3: And welcome you are listening to and watching the Financial
• 1:02
  Speaker 3: Survival Network. I'm your host, Carrie Luttz. Elections do have consequences,
• 1:08
  Speaker 3: especially in the precious metals market. Day after the election,
• 1:12
  Speaker 3: it's November, November sixth I can't believe we just lived
• 1:16
  Speaker 3: through what we live through, but it's behind us. Everything's
• 1:20
  Speaker 3: been fixed, inflations finished, the dead is okay, all of
• 1:25
  Speaker 3: our problems are gone. Yeah, right, if you believe that one, Well,
• 1:30
  Speaker 3: let's see. I've got a bridge I could sell you
• 1:32
  Speaker 3: in Lower Manhattan. I have a whole portfolio of public projects.
• 1:36
  Speaker 3: There's a tunnel down in Miami that's for sale as well,
• 1:41
  Speaker 3: so you can clean up, put up some just jack
• 1:44
  Speaker 3: up the tolls.
• 1:44
  Speaker 4: That's all.
• 1:46
  Speaker 3: Michael Aris is with us and now to discuss this,
• 1:50
  Speaker 3: and it's a michel Any Financial group.
• 1:54
  Speaker 4: Michael, great to have you back on.
• 1:57
  Speaker 3: You know, I'm looking at the metals prices and I'm
• 1:59
  Speaker 3: just kind of laughing. I thought this pullback was due
• 2:04
  Speaker 3: before we got to twenty eight hundred and thirty five dollars,
• 2:08
  Speaker 3: not after. But in the meantime, silver is trading down
• 2:11
  Speaker 3: and according to Kitko, bucking a half lower and the
• 2:15
  Speaker 3: gold is taking a real hit today, down seventy seven bucks.
• 2:21
  Speaker 3: But nothing has changed, has it? Not?
• 2:24
  Speaker 4: Really? Carrie?
• 2:25
  Speaker 1: Now, like I was going to say, too, you're such
• 2:27
  Speaker 1: a comedian too. Oh yeah, the debt's going to go away.
• 2:30
  Speaker 1: Inflation has been fixed. Like you should you should be
• 2:33
  Speaker 1: on a Netflix comedy special not doing a political and
• 2:36
  Speaker 1: economic podcast.
• 2:37
  Speaker 5: I mean it just the material is great.
• 2:39
  Speaker 3: You're so run No, yeah, I'm will for weddings and
• 2:43
  Speaker 3: bar mitzvahs too. Just just k k l at Carrie
• 2:48
  Speaker 3: luds dot com and we will give you all the
• 2:51
  Speaker 3: humor you need these uncertain trying times. Well, first, be
• 2:58
  Speaker 3: surprised by the uh. I don't care about the merits
• 3:02
  Speaker 3: of the candidates. That's it relevant, nothing to do with
• 3:06
  Speaker 3: the situation you find yourself in, the country finds itself in.
• 3:11
  Speaker 4: But are you surprised that Trump prevailed.
• 3:15
  Speaker 1: I'm a little surprised that there wasn't more contention and
• 3:18
  Speaker 1: that we knew about it on the night of the election.
• 3:21
  Speaker 1: I'm really surprised that it wasn't drug out and that
• 3:24
  Speaker 1: there weren't voting irregularities and counting that went on for days.
• 3:29
  Speaker 1: I was fully expecting it would be like last time.
• 3:31
  Speaker 1: I'm actually very surprised that it was settled and done
• 3:34
  Speaker 1: last night. So that was interesting to me. And I
• 3:38
  Speaker 1: think the markets had very much priced in one particular
• 3:42
  Speaker 1: expectation and it was something different than they thought.
• 3:46
  Speaker 5: So, you know, we see stocks.
• 3:48
  Speaker 1: Up and metals down this morning, but in the big picture,
• 3:51
  Speaker 1: the grand scheme of things, Carrie, it's not that much.
• 3:54
  Speaker 1: Like when we're talking about gold and silver, it's kind
• 3:56
  Speaker 1: of a blip on the radar.
• 3:57
  Speaker 3: You know.
• 3:58
  Speaker 1: You kind of said, oh, gold's taking a hit this morning,
• 4:00
  Speaker 1: and it's like, yeah, for a one day sell off. Yes,
• 4:02
  Speaker 1: And then when you zoom out and you look at
• 4:04
  Speaker 1: it moving from you know, two thousand on up to
• 4:06
  Speaker 1: twenty seven hundred, it's like, well, yeah, this is nothing.
• 4:08
  Speaker 1: It's still in the same up trend. It's a normal pullback.
• 4:12
  Speaker 1: We're on the lower end of this range.
• 4:13
  Speaker 5: So great.
• 4:14
  Speaker 1: Yeah, let's let there be a you know, market reaction
• 4:17
  Speaker 1: to election news. Let them digest the news and do
• 4:20
  Speaker 1: what it's going to do. Totally fine, and if it's
• 4:22
  Speaker 1: a dip to buyon, then great, add more at these prices.
• 4:25
  Speaker 1: Because we didn't fix inflation, we didn't get rid of
• 4:28
  Speaker 1: the debt. Trump says he's going to pay off the
• 4:30
  Speaker 1: debt and we're going to sell oil and all this stuff.
• 4:32
  Speaker 1: But thirty five trillion, I mean, we'll see, we'll see
• 4:35
  Speaker 1: if we can government spending.
• 4:38
  Speaker 3: How about if we the federal government owns forty five
• 4:41
  Speaker 3: percent of California, it owns ninety percent of Nevada. It
• 4:46
  Speaker 3: opens a huge courttion of every Western state out there. Utah.
• 4:53
  Speaker 3: I mean I was looking at the percentage. I've known
• 4:55
  Speaker 3: this for years. How about if we just sell off
• 4:58
  Speaker 3: all that real estate that the government doesn't no, doesn't
• 5:01
  Speaker 3: care about, and probably could pay off the national debt
• 5:06
  Speaker 3: with a real estate sale.
• 5:07
  Speaker 1: It's like a reverse Louisiana purchase right there. Yeah, Louisiana.
• 5:14
  Speaker 4: What would you call it?
• 5:14
  Speaker 5: A Louisiana We'll give it back to France. It'll be
• 5:19
  Speaker 5: a Louisiana recollection of the old territory.
• 5:22
  Speaker 3: Repatriation, Louisiana repatriation, or just a getting rid of the assets.
• 5:30
  Speaker 4: You know.
• 5:30
  Speaker 3: It's like when companies need to raids cash, or they
• 5:34
  Speaker 3: got operations that are inefficient that they can't make money
• 5:38
  Speaker 3: at that they want to get, you know, redeploy the capital.
• 5:42
  Speaker 3: What did they do? You sell the stuff off and
• 5:45
  Speaker 3: you take the cash you can get. It could be
• 5:48
  Speaker 3: whole divisions that's going to say divestiture, could be the
• 5:51
  Speaker 3: Louisiana devestment.
• 5:54
  Speaker 4: You know, you sell the stuff.
• 5:55
  Speaker 5: Well, but our government they're not going to do that.
• 5:59
  Speaker 4: They're in La La.
• 5:59
  Speaker 3: Land, like it's not doing any good. It's not doing
• 6:03
  Speaker 3: anybody any good to forty five percent of California in
• 6:07
  Speaker 3: federal hands other than the promoting massive forest fires.
• 6:12
  Speaker 5: Right, yeah, exactly.
• 6:13
  Speaker 1: Yeah, And the government's not going to make the right choices,
• 6:17
  Speaker 1: the smart choices at this point.
• 6:18
  Speaker 5: It's too entrenched.
• 6:19
  Speaker 1: So, yeah, you've got Trump in there for his second term,
• 6:22
  Speaker 1: but he's fighting an uphill battle like it was before,
• 6:25
  Speaker 1: even though you know, you've got the Congress and the
• 6:29
  Speaker 1: Court on his side. Hopefully he can get more done
• 6:31
  Speaker 1: this time. But even Republicans were against him last time,
• 6:34
  Speaker 1: so hopefully he has more more traction, more support this time.
• 6:37
  Speaker 1: But you've still got an entrenched government machine that is
• 6:41
  Speaker 1: used to spending other people's money and going into debt
• 6:45
  Speaker 1: to spend more since they already spent all of other
• 6:48
  Speaker 1: people's money, and to to you know, to get rid
• 6:51
  Speaker 1: of that at this point for the interest payments, we
• 6:54
  Speaker 1: have all the you know, locked in spending like Medicare,
• 6:58
  Speaker 1: social Security there, there's no way to really rain in
• 7:02
  Speaker 1: this behemoth easily or quickly. So it's still a matter
• 7:07
  Speaker 1: of the fact that the Fed is printed too much
• 7:09
  Speaker 1: money and the government has more debt than we can
• 7:11
  Speaker 1: pay back, and other countries don't want to buy our
• 7:13
  Speaker 1: treasuries anymore. And so Trump gives us some nice optimism
• 7:16
  Speaker 1: here for the next few years, but it's still too
• 7:18
  Speaker 1: big a problem to fix. And you know, this reaction
• 7:21
  Speaker 1: in metals is kind of signifying. Yeah, it's a you know,
• 7:24
  Speaker 1: digest the news. This wasn't what we expected. But at
• 7:27
  Speaker 1: the same time, it's nothing out of the norm of
• 7:30
  Speaker 1: this trend thereon. And there's still too much money printed,
• 7:33
  Speaker 1: and medals still have to go hire to account for that,
• 7:35
  Speaker 1: and that's that's not going to change.
• 7:37
  Speaker 4: Well, I think we.
• 7:38
  Speaker 3: Were just to sell off five trillion dollars worth of
• 7:40
  Speaker 3: federal assets. I mean, the market would go nuts, and
• 7:44
  Speaker 3: I'll bet that would affect precious metals. But I don't
• 7:48
  Speaker 3: see it happening because where they going to sell all
• 7:50
  Speaker 3: this stuff on eBay?
• 7:51
  Speaker 5: Yeah? Who's going to buy? And who do we want
• 7:53
  Speaker 5: owning our land?
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  Speaker 3: I mean it's well, if we broke off the forty
• 7:57
  Speaker 3: five percent that the government owns and put it into
• 8:00
  Speaker 3: another state, made it a libertarian state.
• 8:03
  Speaker 5: Right there, California, maybe just.
• 8:06
  Speaker 3: Anarchy, you know, I think the federal government could do that, right,
• 8:10
  Speaker 3: I mean you might, Yeah, I guess you have to
• 8:12
  Speaker 3: have a constitutional thing to approve a new statement and
• 8:16
  Speaker 3: that ad start adding stars to the flag is really
• 8:19
  Speaker 3: going to be a pain.
• 8:20
  Speaker 1: Yeah, yeah, it's it's been a while. I don't think
• 8:23
  Speaker 1: they want to do that. We've got a nice grid there.
• 8:25
  Speaker 1: To add one more, it's just going to throw it
• 8:27
  Speaker 1: all off. And you know, anyone who's OCD is just
• 8:29
  Speaker 1: going to bother them.
• 8:31
  Speaker 3: It'll be good for the flag manufacturers though, right, yep, yeah,
• 8:36
  Speaker 3: all right, but yeah, and there's you know, there's some
• 8:38
  Speaker 3: positives to this outcome too, because if it had been
• 8:42
  Speaker 3: the other way with Harris, I mean she had said
• 8:44
  Speaker 3: brought she'd brought up ideas like taxing unrealized gains in
• 8:47
  Speaker 3: the market, and it's just like that's crazy.
• 8:50
  Speaker 1: That is absolutely crazy talk to think of taxing unrealized
• 8:54
  Speaker 1: gains before you sell the asset. So she probably couldn't
• 8:57
  Speaker 1: have passed that, It probably couldn't have got away with it,
• 8:59
  Speaker 1: but that's where her thinking is going. That's the kind
• 9:02
  Speaker 1: of thing she wants to do. So when we have
• 9:04
  Speaker 1: there's still big problems, there's still problems he maybe can't
• 9:07
  Speaker 1: fix overall, like the debt and inflation. But we're certainly
• 9:10
  Speaker 1: not going to have worse problems like we could have
• 9:12
  Speaker 1: had with more taxes, more regulation, potentially more wars. So
• 9:17
  Speaker 1: maybe we have some some reprieve, some break for the
• 9:20
  Speaker 1: next few years, but overall, the biggest problems we have
• 9:23
  Speaker 1: that are caused by the Central Bank haven't been fixed
• 9:25
  Speaker 1: and can't be easily fixed.
• 9:26
  Speaker 3: So yeah, exactly, And yeah, look it just would have
• 9:31
  Speaker 3: speeded up the downfall of the dollar. But look, I mean, hey,
• 9:37
  Speaker 3: I'm over sixty five. I get some social Security a
• 9:40
  Speaker 3: little bit to me and my Medicare, but pretty soon
• 9:45
  Speaker 3: nobody's going to take Medicare, and my social security benefits
• 9:50
  Speaker 3: will be inflated out of existence anyway, So what am
• 9:54
  Speaker 3: I supposed to do here?
• 9:55
  Speaker 4: A Michael.
• 9:56
  Speaker 1: Yeah, Yeah, it's well, you know, with the metal, they're
• 10:00
  Speaker 1: still an inflation hedge. And if you really zoom out
• 10:03
  Speaker 1: and look at it, you know, a year ago we're
• 10:05
  Speaker 1: talking about just barely under two thousand dollars gold. So
• 10:10
  Speaker 1: a year ago we've got like nineteen hundred something gold,
• 10:12
  Speaker 1: and now it's still twenty six hundred, Like it's not
• 10:15
  Speaker 1: even close to giving everything back or crashing or coming
• 10:18
  Speaker 1: back down. And silver too, you know, you know, four
• 10:21
  Speaker 1: or five percent dropping silver is not atypical for silver.
• 10:25
  Speaker 1: It's a more volatile metal. It can do that in
• 10:27
  Speaker 1: a day. We've seen it several times since it breached thirty.
• 10:30
  Speaker 1: But again a year ago, where were we carry a
• 10:32
  Speaker 1: year ago looks like twenty two, twenty three, So we're
• 10:36
  Speaker 1: still ten dollars higher. We're still forty percent higher than
• 10:39
  Speaker 1: we were a year ago. And silver is still holding
• 10:42
  Speaker 1: above thirty. We've still got this breakout pattern a pullback,
• 10:45
  Speaker 1: but it's still got a lot of support at thirty
• 10:48
  Speaker 1: one thirty two and it's still holding that. So it's
• 10:50
  Speaker 1: just like it's just going to take its time working
• 10:52
  Speaker 1: its way out. And everyone that's held silver for a
• 10:54
  Speaker 1: long time, you know it's volatile. You know you've got
• 10:56
  Speaker 1: these big up and down moves, but at the same time,
• 11:00
  Speaker 1: ultimately see really big percentage performances, and you know, it's
• 11:04
  Speaker 1: doubled since it was in the mid teens a few
• 11:06
  Speaker 1: years ago. So yeah, now it's not like it's trying
• 11:08
  Speaker 1: to give that back completely and not like there's any
• 11:11
  Speaker 1: reason for it to do.
• 11:12
  Speaker 4: So, yeah, exactly exactly. Couldn't agree with you more.
• 11:15
  Speaker 3: And yeah, so precious metals is really the only defense
• 11:21
  Speaker 3: you have cryptocurrencies. How you're feeling about cryptos after the election,
• 11:25
  Speaker 3: because Trump is the first you know, yeah, positive crypto
• 11:31
  Speaker 3: supporter in the White House.
• 11:32
  Speaker 1: Yeah yeah, I mean bitcoin's looking nice, it's going up
• 11:35
  Speaker 1: in reaction. I'm certainly not anti crypto. I'm just myself,
• 11:39
  Speaker 1: from my experience, very pro precious metals. I like something tangible,
• 11:43
  Speaker 1: So not against having bitcoin. It's just not a full
• 11:46
  Speaker 1: replacement for gold and silver because it's not tangible, it
• 11:49
  Speaker 1: doesn't do other things. But I mean that's great if
• 11:53
  Speaker 1: there's you know, an open door here for an alternative
• 11:56
  Speaker 1: to the dollar and an alternative currency in a different
• 11:59
  Speaker 1: form of safe than what is normally controlled by the
• 12:02
  Speaker 1: financial establishment. So I think that's great. You know, gold
• 12:05
  Speaker 1: does that, Bitcoin does that. They do it in different ways,
• 12:08
  Speaker 1: and you can't really substitute one for the other. You
• 12:10
  Speaker 1: can't send gold across the world in ten seconds. But
• 12:15
  Speaker 1: also you can't hold bitcoin in your hand and have
• 12:18
  Speaker 1: it be one hundred percent private and never accessible to
• 12:21
  Speaker 1: a computer. So they both have their advantages. But it's
• 12:23
  Speaker 1: interesting to see what are the alternatives still going up
• 12:28
  Speaker 1: and doing well?
• 12:29
  Speaker 3: Yeah, well, looking at the price of bitcoin right now,
• 12:35
  Speaker 3: Bitcoin's up to almost seventy five thousand. Seventy five thousand
• 12:39
  Speaker 3: not a particularly real technical mark, but round, big, round
• 12:45
  Speaker 3: numbers like that are psychological. It breaks seventy five thousand, Yeah,
• 12:49
  Speaker 3: it could easily go to one hundred, couldn't it.
• 12:51
  Speaker 5: It could.
• 12:52
  Speaker 1: Yeah, and it's still a new high. I mean, it
• 12:54
  Speaker 1: hit somewhere between seventy three and seventy four before you
• 12:57
  Speaker 1: kind of touch that the other week. So now it
• 12:59
  Speaker 1: is pushing up to a new.
• 13:00
  Speaker 5: All time high.
• 13:01
  Speaker 1: So and just like gold, gold kept going up making
• 13:03
  Speaker 1: new all time highs. It hit like twenty seven eighty
• 13:05
  Speaker 1: the other day, so it just kept setting new highs.
• 13:08
  Speaker 1: And so now here's a new high after the election,
• 13:10
  Speaker 1: and this big move up, here's a new high in bitcoin.
• 13:13
  Speaker 1: So yeah, can this be a breakout? It could still
• 13:15
  Speaker 1: you know, pull back and consolidate after breaking out to
• 13:18
  Speaker 1: a new high, but yeah, I could. I could see
• 13:21
  Speaker 1: it going higher from here if it's if it's now
• 13:24
  Speaker 1: you know, breaking above this big consolidation. Really since what
• 13:28
  Speaker 1: was that since earlier this year, since March, the big
• 13:31
  Speaker 1: consolidation in bitcoin now breaking above that, So I think
• 13:33
  Speaker 1: that's really positive.
• 13:35
  Speaker 3: All right, Well, hey we agree, there no question as
• 13:38
  Speaker 3: about it I mean, it's really kind of fascinating to
• 13:43
  Speaker 3: watch these things go And who would think that one day,
• 13:48
  Speaker 3: you know, gold is going down getting slammed based on
• 13:52
  Speaker 3: an election, and bitcoin is going up based on an election.
• 13:57
  Speaker 4: Yeah.
• 13:58
  Speaker 1: Well, And another thing to keep in mind two carry
• 14:00
  Speaker 1: is when we think about when Trump was first president
• 14:04
  Speaker 1: in twenty sixteen and had his first term, gold actually
• 14:07
  Speaker 1: went up three of the four years he was in office.
• 14:10
  Speaker 1: It went down the first year, and it went up
• 14:12
  Speaker 1: the next three years, and then really broke out in
• 14:14
  Speaker 1: twenty nineteen right before COVID and took off and went.
• 14:17
  Speaker 5: To two thousand again.
• 14:18
  Speaker 1: So Trump being in office is not necessarily negative for
• 14:22
  Speaker 1: the medals. The first time, for the most part, it
• 14:24
  Speaker 1: was positive for the medals. So we'll see how this
• 14:27
  Speaker 1: one goes and see if he does things differently as
• 14:30
  Speaker 1: far as the people he has around him and the
• 14:32
  Speaker 1: type of things he's able to pull off if he
• 14:35
  Speaker 1: wants to close the border whatever, We'll see how effective
• 14:37
  Speaker 1: he is. But it's still not a not a negative
• 14:40
  Speaker 1: for the medals because it wasn't the first time.
• 14:42
  Speaker 3: So what do you think the outcome of closing down
• 14:46
  Speaker 3: the border. Having Elon Musk in charge of government efficiency,
• 14:51
  Speaker 3: which yeah, he is always a joke. It's like government worker,
• 14:54
  Speaker 3: it's a oxymorn, you know. Yeah, but yeah with us.
• 14:59
  Speaker 3: But if he cuts government expenditures like he cuts costs
• 15:04
  Speaker 3: at a Tesla factory, yeah, we could be in for
• 15:07
  Speaker 3: some interesting times, couldn't we.
• 15:09
  Speaker 1: I mean that that would cause a lot of convulsions
• 15:12
  Speaker 1: I think in the in the market. That's that's a
• 15:14
  Speaker 1: pretty big deal because you have to think that that's
• 15:16
  Speaker 1: going to be really good in the long term and
• 15:20
  Speaker 1: really painful in the short term. If we have to
• 15:23
  Speaker 1: really go through and revamp government and cut spending and
• 15:26
  Speaker 1: cut cost and cut all the waste and extra jobs
• 15:29
  Speaker 1: that are there. I mean, government has been the biggest
• 15:32
  Speaker 1: job growth aspect in the last year. When when the
• 15:35
  Speaker 1: when they keep manipulating the payroll numbers and employment goes down,
• 15:39
  Speaker 1: governments has been the biggest addition, the biggest employer, you know,
• 15:44
  Speaker 1: the biggest addition to that number has been government. So
• 15:46
  Speaker 1: if we're talking about you know, actually making it more efficient.
• 15:49
  Speaker 5: Cutting jobs, cutting spending, all of.
• 15:50
  Speaker 1: This, it's it's what is needed to get on a
• 15:54
  Speaker 1: better path long term, but it's going to be painful
• 15:56
  Speaker 1: in the short term. So it's that's a thing like
• 15:59
  Speaker 1: if if Trump does what he says he's going to
• 16:01
  Speaker 1: do and keeps his promises, great, but it's really good
• 16:04
  Speaker 1: for the long term and really painful in the short term.
• 16:06
  Speaker 5: So it's it's it's not going to be easy to
• 16:08
  Speaker 5: go through that, and the market's not going to like it.
• 16:10
  Speaker 1: If there's less government spending, then yeah, I think I'll
• 16:14
  Speaker 1: like it. Yeah what about well, well like it in
• 16:18
  Speaker 1: certain ways, but the market's not going to like it,
• 16:20
  Speaker 1: so we have to be ready for that.
• 16:22
  Speaker 3: What about eliminating the income tax and going to a
• 16:27
  Speaker 3: consumption tax and tariffs?
• 16:30
  Speaker 1: Yeah, I mean that's that's in my mind, tough to
• 16:34
  Speaker 1: pull off and tough for us to transition to something
• 16:38
  Speaker 1: like that. I think ultimately it's better, but really tough
• 16:41
  Speaker 1: to get to that point. And then you know what
• 16:43
  Speaker 1: what happens to prices. We're used to cheap prices at Walmart.
• 16:48
  Speaker 1: So if we have a consumption tax and we have tariffs,
• 16:51
  Speaker 1: it's not going to be what everyone's used to where
• 16:54
  Speaker 1: they consume and you know, buy whatever they want and
• 16:57
  Speaker 1: it's you know, normally very cheap stuff, and the dollar
• 16:59
  Speaker 1: goes a long way. We've had more inflation the last
• 17:01
  Speaker 1: few years, that's.
• 17:01
  Speaker 5: Kind of going away.
• 17:02
  Speaker 1: But yeah, I mean you have that kind of change
• 17:05
  Speaker 1: that you're talking about. It's a major social adjustment for
• 17:08
  Speaker 1: people in their standard of living and their spending, which
• 17:11
  Speaker 1: is probably needed, but I don't know that one might
• 17:14
  Speaker 1: be too painful for anyone to go through and be
• 17:17
  Speaker 1: willing to accept. So yeah, that's a tough one too
• 17:20
  Speaker 1: to see what he's able to pull off and how
• 17:24
  Speaker 1: bad the transition is going to be to get to
• 17:26
  Speaker 1: a better place. That's what's going to be interesting here,
• 17:28
  Speaker 1: and that's why we still need insurance for our money.
• 17:32
  Speaker 1: That's why it's not like everything's been fixed yet. It's
• 17:35
  Speaker 1: just not that simple.
• 17:38
  Speaker 3: Well, at least at least the business people have to be,
• 17:42
  Speaker 3: by nature problem solvers. Maybe not in big corporations, but
• 17:47
  Speaker 3: you got your own business your problem solvers, so at
• 17:51
  Speaker 3: least maybe the problem will be acknowledged and addressed, just
• 17:56
  Speaker 3: like the concept of making America healthy again. Horror, our
• 18:00
  Speaker 3: state of health is as a nation, and it's really
• 18:06
  Speaker 3: it's really like to me, one of the major issues
• 18:09
  Speaker 3: that we need to be paying more attention to.
• 18:12
  Speaker 4: Yeah.
• 18:13
  Speaker 5: Absolutely, Yeah, it was amazing. He said that in the speech.
• 18:15
  Speaker 1: Last night that he was going to unleash Bobby Kennedy
• 18:18
  Speaker 1: on the pharmaceutical company like that Dracula.
• 18:23
  Speaker 3: Man, they've got to get their crosses out there. And
• 18:27
  Speaker 3: silver bullets. Man, that's like a rare wolf.
• 18:32
  Speaker 5: It's going to be interesting.
• 18:33
  Speaker 1: It's going to be very interesting this time around, see
• 18:36
  Speaker 1: how this plays out and and if if it really
• 18:38
  Speaker 1: is a free for all like that where he goes
• 18:41
  Speaker 1: after you know people like that are even you know,
• 18:45
  Speaker 1: bad actors from previous times that have accused him, falsely,
• 18:49
  Speaker 1: impeached him, whatever, Like is he is he gonna is
• 18:53
  Speaker 1: he going to be a tack dog? Now, it's going
• 18:54
  Speaker 1: to be interesting.
• 18:55
  Speaker 3: Well, uh, you want to break you want to make
• 18:59
  Speaker 3: an omelet? Got to break some eggs, right.
• 19:02
  Speaker 1: Yeah, Well we need to we need to to get
• 19:05
  Speaker 1: this country back on the right track.
• 19:06
  Speaker 5: So hey, fully hopefully volunt to you.
• 19:09
  Speaker 3: What about like just the because we had the Chevron decision,
• 19:13
  Speaker 3: I'm getting to talking about legal matters. Basically it's a
• 19:17
  Speaker 3: free part rule. That was a bad decision and no
• 19:21
  Speaker 3: longer are government entities entitled to deference a presumption that
• 19:27
  Speaker 3: what they're doing is authorized.
• 19:29
  Speaker 4: By law and legal Yeah, and.
• 19:32
  Speaker 3: Just on the basis of Chevron, you could cut back
• 19:35
  Speaker 3: probably two thirds of the federal bureaucracy because you have
• 19:38
  Speaker 3: this thing called regulatory creep. You created a regulatory agency
• 19:43
  Speaker 3: and before you know it, they're meddling in things that
• 19:46
  Speaker 3: the original drafters of the statute never even knew existed.
• 19:51
  Speaker 3: Could be interesting, Yeah, very much though, be interesting.
• 19:55
  Speaker 1: Yeah, yeah, Like like you were talking about it, Elon
• 19:57
  Speaker 1: gets in there and actually does a you know, in
• 20:00
  Speaker 1: accountability and waste office and just you know, starts going
• 20:03
  Speaker 1: and going to town on it, with with this, with
• 20:06
  Speaker 1: the with the hacksaw hacking limbs off. Yes, it could,
• 20:10
  Speaker 1: this could be. It's gonna be interesting. It could be
• 20:12
  Speaker 1: very interesting. I'd love to see it.
• 20:14
  Speaker 4: You know.
• 20:15
  Speaker 3: It's like a friend of mine is uncle was a
• 20:18
  Speaker 3: bit of a whack job, but he got a job
• 20:20
  Speaker 3: working for the Post Office in an executive position, and
• 20:24
  Speaker 3: he tried to reform it and tried to streamline it
• 20:27
  Speaker 3: and do all this. He lasted six months.
• 20:30
  Speaker 2: Uh.
• 20:30
  Speaker 4: I think Elon might might not last that long.
• 20:35
  Speaker 3: There'll be a revolution because they don't want efficiency, they
• 20:38
  Speaker 3: don't want to stop spending money. They only want to
• 20:41
  Speaker 3: spend more and more. Well, that's a story for another day, Mike,
• 20:45
  Speaker 3: just tell us where do we find with you?
• 20:47
  Speaker 4: Find you?
• 20:48
  Speaker 3: How do we connect with you on the web? All
• 20:50
  Speaker 3: that good stuff?
• 20:51
  Speaker 1: Yeah, yeah, Well at mcelvaaney Precious Metals. If anyone's interested
• 20:55
  Speaker 1: in gold and silver and well, we'll help do it
• 20:57
  Speaker 1: strategically and and help you benefit most from it. You
• 21:01
  Speaker 1: can go to mcilvany dot com, forward slash Michael or
• 21:05
  Speaker 1: call nine seven zero four five nine four six.
• 21:09
  Speaker 5: One one caller text me and I'm happy to advise.
• 21:12
  Speaker 3: Excellent and the link is in the show notes this
• 21:14
  Speaker 3: interview on Financial Survival Network dot com. Please sign up
• 21:18
  Speaker 3: for your free newsletter, like over fifty thousand of other
• 21:23
  Speaker 3: FSN members have done. And question for Mike myself kl
• 21:28
  Speaker 3: at Carrie LUTs dot com.
• 21:30
  Speaker 4: Always a pleasure, Mike, thanks for stopping by.
• 21:32
  Speaker 5: Yeah, thanks, Gerry enjoying the conversation so I appreciate it.
• 21:35
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network your
• 21:39
  Speaker 2: solution to today's trying times. For the latest, go to
• 21:43
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than
• 21:49
  Speaker 2: ever