Latest / Financial Survival Network / Gold, Bitcoin, and the New Orleans Outlook - Brien Lundin #6339

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Gold, Bitcoin, and the New Orleans Outlook - Brien Lundin #6339 · Financial Survival Network

• 0:00
  Speaker 1: And at some point the credibility will decline to such
• 0:04
  Speaker 1: a degree that we will have to they will have
• 0:07
  Speaker 1: to reattach currencies to gold, some external governor on the
• 0:14
  Speaker 1: worst of human nature, and to re establish that credibility.
• 0:19
  Speaker 1: Gold is obviously the choice. After one thousands of years,
• 0:24
  Speaker 1: it will be the choice, or will be part of
• 0:27
  Speaker 1: that solution in some way.
• 0:28
  Speaker 2: You're listening to Carrie Let's's Financial Survival Network, where you
• 0:32
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• 0:37
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• 0:50
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• 0:52
  Speaker 3: Ever, and welcome. This is Financial Survival Network. I'm your host,
• 0:59
  Speaker 3: car lutz Well. In a couple of weeks actually on
• 1:03
  Speaker 3: November two, I am heading off to New Orleans to
• 1:06
  Speaker 3: go to the New Orleans Investment Conference. Been there a
• 1:10
  Speaker 3: number of times in the past. Last time was there
• 1:13
  Speaker 3: was a couple of years ago. But being at the market,
• 1:17
  Speaker 3: what's happening with precious metals everything else.
• 1:21
  Speaker 4: I felt I had to go.
• 1:23
  Speaker 3: This is the year and with us is the founder
• 1:27
  Speaker 3: and the guy who runs it all Brian London and
• 1:30
  Speaker 3: if you're interested in the New Orleans Investment Conference real
• 1:33
  Speaker 3: simple url New Orleansconference dot com. Brian, it's great to
• 1:38
  Speaker 3: have you back on the show. This is number fifty one.
• 1:42
  Speaker 3: When you started this thing fifty years ago, how long
• 1:46
  Speaker 3: did you think it was going to go on for?
• 1:49
  Speaker 1: Well, let me clarify that I did not start it.
• 1:52
  Speaker 1: A guy named Jim Blanchard star but of course yeah,
• 1:56
  Speaker 1: and an icon of a hard money sound money movement.
• 1:58
  Speaker 1: He was instrumental and getting gold legalized. He started our newsletter,
• 2:03
  Speaker 1: Gold Newsletter in nineteen seventy one, literally on the day
• 2:07
  Speaker 1: that Nixon closed the gold window, severed the last tie
• 2:11
  Speaker 1: between the dollar and gold in August in nineteen seventy one.
• 2:14
  Speaker 1: Jim decided to do something about it. Lobbied for the
• 2:18
  Speaker 1: return of the right of gold ownership for American citizens. Amazingly,
• 2:22
  Speaker 1: it was illegal to own gold back then, and then
• 2:27
  Speaker 1: was successful in nineteen seventy four getting it legalized. Decided
• 2:31
  Speaker 1: to have an investment conference to teach Americans how to
• 2:35
  Speaker 1: invest in gold, and that grew and grew. I joined
• 2:38
  Speaker 1: Jim about ten years later in nineteen eighty five, and
• 2:43
  Speaker 1: so I'm a newbie on the block.
• 2:45
  Speaker 4: I've only been.
• 2:45
  Speaker 1: Involved in it for forty years, but I ended up
• 2:49
  Speaker 1: after Jim passed away in nineteen ninety nine. I was
• 2:53
  Speaker 1: running his business for him and a minority owner in it,
• 2:57
  Speaker 1: and then bought the rest from his estate. Been trying
• 3:00
  Speaker 1: to continue our legacy ever since of you know, free minds,
• 3:05
  Speaker 1: free markets, sound money and all of the things that
• 3:11
  Speaker 1: I think now distressingly are under attack like they have
• 3:17
  Speaker 1: never been before, really since the nineteen seventies. So are
• 3:21
  Speaker 1: a lot of parallels today to the nineteen seventies, and
• 3:26
  Speaker 1: I think importantly and more to the point today, you know,
• 3:31
  Speaker 1: especially in the precious metals, these are the kinds of
• 3:34
  Speaker 1: moves we have not seen since then. And yet there's
• 3:38
  Speaker 1: plenty of opportunity left because unlike any other bull market
• 3:42
  Speaker 1: we've ever seen, we've had laggards here. The investments that
• 3:47
  Speaker 1: typically leverage gold, silver and mining stocks have lagged gold.
• 3:53
  Speaker 1: And now they're catching up, you know, like Bansheese, just
• 3:58
  Speaker 1: right out of the gate. Lots of our opportunities still left.
• 4:01
  Speaker 3: Yeah, it's really exciting. I mean, look, we all knew
• 4:06
  Speaker 3: that it was heading here. Yeah, I think we all
• 4:09
  Speaker 3: thought it was going to be here back in the early,
• 4:12
  Speaker 3: you know, two thousand and ten, twenty eleven, but somehow
• 4:16
  Speaker 3: they engineered the collapse of the precious metals markets. Maybe
• 4:22
  Speaker 3: it just wasn't the right time. We could speculate about
• 4:25
  Speaker 3: how it happened, but the fact is it was inevitable, right,
• 4:29
  Speaker 3: I mean, fifty fifty two fifty three dollars goal silver
• 4:34
  Speaker 3: rather fifty two to fifty three dollars silver three four
• 4:39
  Speaker 3: years ago. We were imagining it, but now it's actually here.
• 4:43
  Speaker 1: Yeah, And it seems as long as it took, it
• 4:45
  Speaker 1: seems like it came shockingly quickly. You know, inhabitable does
• 4:52
  Speaker 1: not mean imminent for sure. And you know, like Kimmingway wrote,
• 4:57
  Speaker 1: you know, how did you go bankrupt?
• 4:58
  Speaker 4: Slowly?
• 4:59
  Speaker 1: At first?
• 5:01
  Speaker 4: Yeah?
• 5:01
  Speaker 1: This was we knew it was happening. You know. If
• 5:05
  Speaker 1: there's one critique I would make of the people in
• 5:11
  Speaker 1: our you know, today's version of the sound money movement,
• 5:17
  Speaker 1: the people who are out here out there looking at
• 5:20
  Speaker 1: the extraordinary things happening that really aren't ordinary, aren't normal,
• 5:26
  Speaker 1: and projecting them into the future, is that we're probably
• 5:29
  Speaker 1: a bit early. We see what's going to happen. The
• 5:33
  Speaker 1: timing is always the tough part of it all. But
• 5:37
  Speaker 1: trends that are inevitable will inevitably reach their end and
• 5:43
  Speaker 1: their ultimate destination, and that's where we're heading out now.
• 5:47
  Speaker 1: I don't know if this is going to lead to
• 5:50
  Speaker 1: the great reset where gold and silver regained monetary value
• 5:55
  Speaker 1: at least association with legal monetary value and the UFS
• 6:00
  Speaker 1: and developed economies. It may take another one or two
• 6:03
  Speaker 1: crises to get to that point, but we do recognize
• 6:07
  Speaker 1: the trend, and now we see that the trend is
• 6:10
  Speaker 1: accelerating because the forces that have been holding it back
• 6:13
  Speaker 1: had been overwhelmed. Very simply, Yeah, I.
• 6:16
  Speaker 4: Call it the comex GPT, the AII.
• 6:22
  Speaker 3: It's probably in the basement of the FED and the
• 6:24
  Speaker 3: Echoes building, but it's been screaming. It's been having meltdowns,
• 6:28
  Speaker 3: and it can't keep the prices down anymore, even in platinum,
• 6:33
  Speaker 3: which I wouldn't tell most people it's something you want
• 6:37
  Speaker 3: to hold, but certainly it's been been Its performance has
• 6:42
  Speaker 3: been stellar, and traditionally it was always more costly pronounced
• 6:48
  Speaker 3: than gold, and yet for many.
• 6:51
  Speaker 4: Years now it's been a fraction.
• 6:53
  Speaker 3: Of the price of gold. So that's catching up, and
• 6:57
  Speaker 3: that's like conformation that you really need great.
• 7:01
  Speaker 1: Yeah, it is. We have confirmation on all fronts, and
• 7:06
  Speaker 1: that's why I tell people that, you know, this is
• 7:09
  Speaker 1: a generational opportunity. It's it's something we have not seen
• 7:13
  Speaker 1: since early two thousand, since gold bottomed out at two
• 7:17
  Speaker 1: hundred and fifty two dollars an ounce in nineteen ninety
• 7:19
  Speaker 1: nine and two thousand. But then you had to have
• 7:24
  Speaker 1: a lot more courage to invest in the sector and
• 7:27
  Speaker 1: be confident that a bull market and gold was coming,
• 7:31
  Speaker 1: a bull market in the silver, and then a bull
• 7:33
  Speaker 1: market in mining stocks. Today we have the incredible luxury
• 7:38
  Speaker 1: of knowing that a bull market and gold is already
• 7:41
  Speaker 1: here in full force and dwarfing really and it's the
• 7:46
  Speaker 1: violence anything that we've seen before. So we have that
• 7:52
  Speaker 1: factor that checkbox checked. We don't have the risk of
• 7:55
  Speaker 1: whether there's going to be a bull market. There is,
• 7:58
  Speaker 1: and yet we have the opportun unity to invest in
• 8:01
  Speaker 1: these leverage investments that are soaring right now but still
• 8:05
  Speaker 1: dramatically undervalued on any long term metrics. No mining stocks
• 8:10
  Speaker 1: right now on a price to earnings, priced to net
• 8:14
  Speaker 1: asset value are at historically very low levels because their
• 8:20
  Speaker 1: earnings have accelerated, have outperformed their prices, so they are
• 8:27
  Speaker 1: still dramatically undervalued. But the mainstream, the generalists, the big
• 8:33
  Speaker 1: money is just starting to realize that in pouring into
• 8:36
  Speaker 1: the sector.
• 8:38
  Speaker 4: Yeah, so where does it end?
• 8:40
  Speaker 3: I mean, that's almost as difficult as saying when. But
• 8:46
  Speaker 3: it looks like we're at the beginning, doesn't it.
• 8:49
  Speaker 1: Yeah, you know, gold is a predictive mechanism, like all
• 8:54
  Speaker 1: investment markets. I think that bonds and gold are the
• 8:59
  Speaker 1: most sensitive to have an accurate at the markets as
• 9:01
  Speaker 1: far as discounting the future. Bonds, however, treasuries are manipulated
• 9:08
  Speaker 1: to some course's argument that gold has been as well.
• 9:12
  Speaker 1: But gold right now is not whispering at somethings they had.
• 9:16
  Speaker 1: It's not telling us that something's coming up. It's screaming it.
• 9:20
  Speaker 1: And so we have to look ahead and see what
• 9:22
  Speaker 1: that is. I think you look at the decades old
• 9:27
  Speaker 1: trend of every easier money, which promoted the accumulation of
• 9:33
  Speaker 1: ever greater debts, and in the fiscal situation, has reached
• 9:37
  Speaker 1: a climax, a point of no return where you can't
• 9:41
  Speaker 1: grow your way out of it, you can't tax your
• 9:43
  Speaker 1: way out of it, you can't cut spending obviously we've
• 9:47
  Speaker 1: seen that. So the situation now is that interest rates
• 9:51
  Speaker 1: have to be below the rate of inflation. The currency
• 9:55
  Speaker 1: has to depreciate more quickly then you're paying interest on
• 9:59
  Speaker 1: this these massive debts or everything falls apart. So at
• 10:04
  Speaker 1: the very least we have the necessity of negative real
• 10:08
  Speaker 1: rates going forward, and that is very bullish for gold, silver,
• 10:12
  Speaker 1: the monetary metals, really all commodities, all tangible assets.
• 10:17
  Speaker 4: On the other.
• 10:18
  Speaker 1: Hand, we are seeing that our gold is hinting that
• 10:22
  Speaker 1: perhaps there's the ultimate end game, there's some kind of
• 10:26
  Speaker 1: a monetary reset ahead that would involve gold as re
• 10:30
  Speaker 1: establishing gold along with the dollar, is the backbone of
• 10:35
  Speaker 1: the dollar, the foundation for the dollar. That could happen,
• 10:39
  Speaker 1: And what would interests me is how quickly we've seen
• 10:44
  Speaker 1: gold rally recently. And I don't think that's you can
• 10:52
  Speaker 1: account for that in buying from the current central banks,
• 10:56
  Speaker 1: as current Caytrees central banks that we know about. I
• 11:00
  Speaker 1: think that perhaps the US government itself is buying gold
• 11:03
  Speaker 1: right now, trying to put gold back where it belongs,
• 11:07
  Speaker 1: where it should have been all along. Because coincidence with
• 11:12
  Speaker 1: these big rallies in gold, we've seen all talk of
• 11:16
  Speaker 1: an audit of Fort Knox die Away.
• 11:19
  Speaker 4: Yeah, everyone's no.
• 11:21
  Speaker 1: I mean it is a coincidence. You know, maybe it
• 11:25
  Speaker 1: isn't so much of a coincidence.
• 11:27
  Speaker 4: Yeah, that's a good question there.
• 11:29
  Speaker 3: And for all we know, they might have been buying
• 11:33
  Speaker 3: precious metals throughout the entire time here from winn it
• 11:38
  Speaker 3: peaked in twenty eleven and then when it went down
• 11:42
  Speaker 3: that they could have been buying on the up. The
• 11:45
  Speaker 3: same thing with cryptocurrencies. What's your take on crypto. I
• 11:48
  Speaker 3: don't think we ever had this conversation.
• 11:51
  Speaker 1: Yeah, I'm a big believer in the original ideals bitcoin.
• 11:56
  Speaker 1: I just wish it would have bought it with all
• 11:57
  Speaker 1: of his co win when it was selling for hundreds
• 12:02
  Speaker 1: of dollars. When uh, you know people are talking to
• 12:06
  Speaker 1: me about those ideals, I think a lot of those
• 12:09
  Speaker 1: ideals have fallen by the wayside Uh, bitcoin has sought
• 12:13
  Speaker 1: the to get under the umbrella of regulation and therefore
• 12:17
  Speaker 1: have access to big money investments. The the transparency has
• 12:24
  Speaker 1: worked against it. Uh, the anonymity has largely it oprated,
• 12:32
  Speaker 1: so it's it's been those ideals have been supplanted by
• 12:37
  Speaker 1: the ideal of number go up, and and you know,
• 12:42
  Speaker 1: even the bitcoin, Well, the most avid advocates of bitcoin
• 12:48
  Speaker 1: talk about it in dollar terms, whereas if they were
• 12:51
  Speaker 1: true advocates of the principles of bitcoin, they wouldn't care
• 12:54
  Speaker 1: about what it was in dollar terms. So I'm very
• 12:59
  Speaker 1: skeptical about it right now. I'm skeptical about the performance
• 13:03
  Speaker 1: and how it's become a speculative of the mania. But
• 13:07
  Speaker 1: the other side of the coin is that some people
• 13:10
  Speaker 1: I highly respect, very smart people that are friends of mine,
• 13:16
  Speaker 1: that are again very avid advocates of bitcoin, and they're
• 13:23
  Speaker 1: not easily fooled, and so they're very smart people. And
• 13:28
  Speaker 1: so that kind of keeps me watching it and thinking
• 13:31
  Speaker 1: that it may end up being what they say it's
• 13:34
  Speaker 1: going to be.
• 13:35
  Speaker 3: I think so, and I'll tell you why. Exactly what
• 13:39
  Speaker 3: we have in the silver market, the paper infrastructure, what
• 13:44
  Speaker 3: we would call synthetic silver since doesn't really exist. The
• 13:48
  Speaker 3: silver that's traded is imaginary silver.
• 13:51
  Speaker 4: Right.
• 13:51
  Speaker 3: It's kind of like lawyers billing for forty eight hours
• 13:56
  Speaker 3: in a day. They're billing for time that doesn't exist.
• 14:00
  Speaker 3: What the synthetic market for silver and for bitcoin is like.
• 14:04
  Speaker 3: And the amount of bitcoin coming onto the market is decreasing.
• 14:09
  Speaker 3: It was at nine hundred. Then we had the having
• 14:12
  Speaker 3: Now it's at four point fifty. Just like the amount
• 14:15
  Speaker 3: of silver coming onto the market has been decreasing. We've
• 14:18
  Speaker 3: been in deficit the past several years, and yet we
• 14:22
  Speaker 3: have this huge synthetic ETFs, We've got futures, we've got options,
• 14:29
  Speaker 3: and probably some other things that we don't even know
• 14:32
  Speaker 3: about that they're doing. And that's the exact same thing
• 14:36
  Speaker 3: with bitcoin, which is why if we're going to have
• 14:39
  Speaker 3: a short squeeze in silver, we're going to have it
• 14:42
  Speaker 3: in crypto too.
• 14:44
  Speaker 4: In bitcoin specifically.
• 14:45
  Speaker 3: I don't really follow a lot of the others, few
• 14:47
  Speaker 3: of them I do, but we're going to have it
• 14:50
  Speaker 3: in bitcoin for the simple reason of the ultimate loss
• 14:54
  Speaker 3: of faith in the system.
• 14:56
  Speaker 4: That's my take. I don't know, what do you think?
• 14:59
  Speaker 1: Yeah, I think you really put your finger on it.
• 15:02
  Speaker 1: It's the ultimate loss of faith in the system. And
• 15:05
  Speaker 1: that's been one of my key points in theses, like
• 15:10
  Speaker 1: over the last decade or so, that you know, the
• 15:15
  Speaker 1: Great Financial Crisis was revealing to me. If you plot
• 15:20
  Speaker 1: the Fed funds rate since nineteen eighty, you know when
• 15:27
  Speaker 1: Paul Boker drove up interest rates above twenty percent to
• 15:32
  Speaker 1: kill off inflation. Ever since then, whenever there was a
• 15:36
  Speaker 1: slow down in the economy of recession or anything resembling such,
• 15:40
  Speaker 1: the Fed had the same prescription. They lowered interest rates,
• 15:44
  Speaker 1: they made money easier. Central bank always did that, but
• 15:49
  Speaker 1: was never able to raise interest rates back again more
• 15:52
  Speaker 1: than halfway of the previous trading range. And so if
• 15:56
  Speaker 1: you plot the bottoms, you see a stair step stay,
• 15:59
  Speaker 1: stair step down, second four, first four down to the
• 16:04
  Speaker 1: ground floor at zero. After the Great Financial Crisis and
• 16:08
  Speaker 1: then zeroing interest rates didn't accomplish what they needed, so
• 16:11
  Speaker 1: they came up with quantitative easing and everything else. They
• 16:14
  Speaker 1: did all that over the span of four to five years.
• 16:17
  Speaker 1: Then came COVID. People forget they actually began quantitative easing
• 16:22
  Speaker 1: a few months before COVID. They did five hundred billion
• 16:26
  Speaker 1: dollars worth of quantitative easing before COVID ever hit, So
• 16:30
  Speaker 1: this was happening again regardless, then COVID hit. In everything
• 16:35
  Speaker 1: they did after the Great Financial Crisis over four to
• 16:37
  Speaker 1: five years, they did a multiple.
• 16:40
  Speaker 4: Of that in these steroids like days.
• 16:43
  Speaker 1: So what's happening is that with every crisis, every recession,
• 16:48
  Speaker 1: every bubble that bursts, that's created by the fed, the fed.
• 16:53
  Speaker 1: Then once the bubble burst has to come in of
• 16:55
  Speaker 1: rescue efforts, the investors, the market, the economy becomes addicted
• 17:00
  Speaker 1: like Pablov's dog to this and every time that happens
• 17:05
  Speaker 1: they need a greater dose of the drug to get
• 17:09
  Speaker 1: the same result because they've grown tolerant of it. So
• 17:12
  Speaker 1: the bottom line is that as these cycles progress, after
• 17:17
  Speaker 1: each bust and then boom, the market realizes, investors realize,
• 17:23
  Speaker 1: savers realize that there's going to be an awful lot
• 17:25
  Speaker 1: of currency created, and that degrades the credibility of the
• 17:29
  Speaker 1: currency with each instance. So yeah, it's loss of faith
• 17:33
  Speaker 1: in the financial system, loss of faith in the currency,
• 17:38
  Speaker 1: in the credibility of that currency. And we don't know
• 17:42
  Speaker 1: whether it's the next cycle, the one after that, or
• 17:44
  Speaker 1: the one after that that all the credibility will be lost,
• 17:48
  Speaker 1: but the trend is clear, and at some point the
• 17:51
  Speaker 1: credibility will decline to such a degree that we will
• 17:55
  Speaker 1: have to they will have to reattach currencies two goals,
• 18:00
  Speaker 1: some external governor on the worst of human nature, and
• 18:06
  Speaker 1: to re establish that credibility. Gold is obviously the choice.
• 18:12
  Speaker 1: After one thousands of years, it will be the choice
• 18:16
  Speaker 1: or will be part of that solution in some way
• 18:19
  Speaker 1: for good reason. We're not talking, you know, ten thousand
• 18:22
  Speaker 1: dollars gold, We're talking twenty thousand dollars and above that is.
• 18:28
  Speaker 1: You know, I think that the current rise the rallies
• 18:32
  Speaker 1: in gold are hinting at the possibility of that being
• 18:37
  Speaker 1: more near term than we would have believed.
• 18:43
  Speaker 4: Yeah, and.
• 18:45
  Speaker 3: It's interesting because the Great Depression was really a turning
• 18:50
  Speaker 3: point in the United States because prior to the Great Depression,
• 18:55
  Speaker 3: rising interest rates were seen as a positive because econ
• 19:00
  Speaker 3: growth was driving demand for money, was driving higher rates,
• 19:05
  Speaker 3: and you got a better return on your savings. After
• 19:10
  Speaker 3: the Great Depression, that logic went out the window. Lower
• 19:14
  Speaker 3: interest rates were the key to driving economic growth. But
• 19:19
  Speaker 3: during the Great Depression we had ridiculously low interest rates
• 19:24
  Speaker 3: and nobody was borrowing. So, you know, these distortions from
• 19:29
  Speaker 3: Kynesiism and I call them the central bank robbers, really
• 19:38
  Speaker 3: have distorted our perception and our understanding of how the
• 19:42
  Speaker 3: healthy economy really works.
• 19:45
  Speaker 1: Yeah, it was a confusion of speculation with investment, and
• 19:50
  Speaker 1: as we know, the twenties were such a period of
• 19:53
  Speaker 1: red hot speculation, and so the central banks were essentially
• 19:59
  Speaker 1: created the party going. But you know it is it
• 20:05
  Speaker 1: is amazing that we've had fed governor's like Alan Greenspan,
• 20:11
  Speaker 1: you know, radical free market advocates who got in there
• 20:18
  Speaker 1: and determined that a bunch of old economists sitting around
• 20:23
  Speaker 1: a table could better determine the proper level of interest
• 20:27
  Speaker 1: rates the price of money than the free market.
• 20:31
  Speaker 4: And that's amazing to me.
• 20:33
  Speaker 1: And nobody ever addressed that in Congress except for Ron
• 20:37
  Speaker 1: Paul and he was, you know, laughed off as a koop.
• 20:41
  Speaker 4: So true, so true.
• 20:43
  Speaker 3: So you know, maybe the classical economists newer thing or two.
• 20:49
  Speaker 3: Certainly the Austrians did. But for so many years the
• 20:55
  Speaker 3: Austrians have been in disfavor, even by our social media platforms,
• 21:01
  Speaker 3: which routinely suppress any mention of Austrian economics.
• 21:06
  Speaker 4: Hard to believe.
• 21:08
  Speaker 3: Even the Mesis Institute is their YouTube channel is being
• 21:14
  Speaker 3: throttled and they got hundreds of thousands of subscribers. They're
• 21:19
  Speaker 3: lucky to get fifteen hundred views. What does the establishment
• 21:24
  Speaker 3: fear about free markets and Austrian economics and a move
• 21:30
  Speaker 3: away from monitorism.
• 21:32
  Speaker 4: Is it a loss of power? What does it mean here? Yeah?
• 21:35
  Speaker 1: I think it's power, I really do. I mean, I
• 21:37
  Speaker 1: don't think there's money to be made from that. But
• 21:41
  Speaker 1: it is the meritocracy to the elitism, you know, that
• 21:48
  Speaker 1: sense of power. I don't think, you know, even I
• 21:52
  Speaker 1: used to lap at deep state conspiracies and then we
• 21:56
  Speaker 1: all it all proved to be true. But it's not
• 22:00
  Speaker 1: you know, a cabal meeting on Tuesday nights, you know,
• 22:03
  Speaker 1: to light candles around a pentagram or anything, and and
• 22:07
  Speaker 1: and and champed versus. No, it's it is a loose
• 22:12
  Speaker 1: affiliation of people who are raised the same way, who
• 22:15
  Speaker 1: think the same way, and and view people who have
• 22:20
  Speaker 1: opposing views as outsiders and the other team, and you know,
• 22:26
  Speaker 1: exercise their power over their little fectoms, and little exercises
• 22:31
  Speaker 1: of power, uh, multiplied by tens of thousands of bureaucrats
• 22:38
  Speaker 1: and like minded status add up to you know, a
• 22:43
  Speaker 1: monolithic enterprise. And so it is real, and it does exist,
• 22:49
  Speaker 1: and it spreads its tentacles and every fabric of modern life,
• 22:54
  Speaker 1: even into social media as we saw, you know. And
• 22:57
  Speaker 1: Matt Taibi is one of is speaking at this New
• 23:00
  Speaker 1: Orleans conference, has been at the forefront of exposing all
• 23:05
  Speaker 1: of this.
• 23:06
  Speaker 3: Yeah, yeah, I'm looking forward to hearing him speak. He's
• 23:11
  Speaker 3: pretty amazing what he's done, what he's exposed, And hopefully
• 23:17
  Speaker 3: I'll meet with him because he was big on the
• 23:20
  Speaker 3: Twitter files. I've got one for him for the YouTube files,
• 23:24
  Speaker 3: and hopefully I get to interview him as well. He's
• 23:28
  Speaker 3: the perfect example of you don't have to agree with
• 23:32
  Speaker 3: people on their politics.
• 23:34
  Speaker 4: It doesn't matter whether you agree or not. It's values.
• 23:38
  Speaker 3: We've gotten into this thing where beliefs politics, but we
• 23:42
  Speaker 3: don't really think about values anymore. Our communities. We want
• 23:47
  Speaker 3: our communities to be safe. We want our schools to
• 23:50
  Speaker 3: actually educate our children right. We want health. We want
• 23:55
  Speaker 3: our medical community to support health, not hinder it. We
• 23:59
  Speaker 3: want healthy food, clean water, clean air. We all want
• 24:02
  Speaker 3: the same things, and yet the political system has made
• 24:07
  Speaker 3: us move away from our values and go into beliefs.
• 24:12
  Speaker 3: And you know, if I believe that the sun isn't
• 24:15
  Speaker 3: going to rise tomorrow morning and you believe it, you're
• 24:19
  Speaker 3: never going to convince me. And I might even be
• 24:22
  Speaker 3: blind to the fact that the sun does rise in
• 24:24
  Speaker 3: the morning because I have that belief. I hold it
• 24:27
  Speaker 3: so strongly. But if we talk about values, all of
• 24:31
  Speaker 3: a sudden, the whole equation changes.
• 24:33
  Speaker 1: You know, Yeah, that's a great way to put it,
• 24:35
  Speaker 1: you know, and the ability to have polite disagreement in
• 24:38
  Speaker 1: intelligent discussion is so rare these days. And yeah, Matt
• 24:44
  Speaker 1: is a prime example of that. He was a lion
• 24:47
  Speaker 1: of the liberal left for so long, and yet he
• 24:52
  Speaker 1: was never a member of any team. And they didn't
• 24:54
  Speaker 1: realize that he was not a member of the team.
• 24:57
  Speaker 1: He was always working for truth and and sometimes that
• 25:04
  Speaker 1: truth is you know, painful because on your side, as
• 25:09
  Speaker 1: it were, that that the errors are being pointed out.
• 25:13
  Speaker 1: And uh, you know, Mat sment decades skewing the right
• 25:20
  Speaker 1: and then when the left just quit bonkers, he's spent
• 25:25
  Speaker 1: the last few years skewing the left. And uh, like
• 25:29
  Speaker 1: I said, I think he's the most important journalist of
• 25:32
  Speaker 1: our generation. But he's also uh an exemplar of of
• 25:37
  Speaker 1: how important it is to you know, hold your values
• 25:42
  Speaker 1: sacred and and and disagree, uh and not be a
• 25:47
  Speaker 1: member of any particular team.
• 25:51
  Speaker 4: Uh.
• 25:52
  Speaker 1: You know, even if the members of your team or
• 25:54
  Speaker 1: should be your team, you know, you still have the
• 25:57
  Speaker 1: right to criticize him, uh and their failings and not
• 26:02
  Speaker 1: just accept it because you don't want to give the
• 26:05
  Speaker 1: other side a victory. So yeah, things have gotten so
• 26:07
  Speaker 1: colorized these days. It's it's amazing. It's why I've steered
• 26:11
  Speaker 1: clear of a number of politically oriented speakers at my
• 26:15
  Speaker 1: conference because you know, you just pissed people off. Somebody
• 26:20
  Speaker 1: I want to get angry and it's you know, it's crazy, yep, and.
• 26:26
  Speaker 4: You gain nothing from it.
• 26:28
  Speaker 3: So all right, the site you want to go to
• 26:30
  Speaker 3: is New Orleans Conference dot com and you'll see Brian
• 26:35
  Speaker 3: there along with all the speakers. We didn't even get
• 26:38
  Speaker 3: into the speakers, Brian, but you really have an all
• 26:40
  Speaker 3: star cast this year. I'm looking forward to a lot
• 26:44
  Speaker 3: of these sessions. The dates it's November second through November fifth,
• 26:50
  Speaker 3: and you get to hang out in New Orleans and
• 26:53
  Speaker 3: eat some of the best food in the world, which
• 26:55
  Speaker 3: I am also looking forward to. And Brian, just tell
• 26:59
  Speaker 3: us how to subscribe to your newsletter please.
• 27:02
  Speaker 1: Yeah, Goldnewsletter dot com. Very simply, it is an extraordinary value,
• 27:08
  Speaker 1: if I say some myself, in this market, especially our
• 27:13
  Speaker 1: track record has been extraordinary. We have new stock picks
• 27:18
  Speaker 1: coming out quite frequently that double and triple very quickly.
• 27:24
  Speaker 1: So it is it is in a market and an opportunity.
• 27:29
  Speaker 1: Now you will be cheating yourself if you don't participate
• 27:32
  Speaker 1: in and.
• 27:33
  Speaker 4: I couldn't agree with you more.
• 27:34
  Speaker 3: If you've got a question for myself a Brian, shoot
• 27:37
  Speaker 3: an email kl at Kerrie lets dot com and sign
• 27:41
  Speaker 3: up for your free substack news letter subscription it's just
• 27:47
  Speaker 3: Financial Survival Network dot com and you'll get all the
• 27:51
  Speaker 3: latest and greatest material a lot of original articles. Brian
• 27:56
  Speaker 3: can't thank you enough for coming on, looking forward to
• 27:58
  Speaker 3: seeing you in a couple of weeks in New Orleans
• 28:00
  Speaker 3: in the Big Easy and enjoying the conference. Hey, don't
• 28:04
  Speaker 3: work too hard getting it together. We'll see you soon.
• 28:06
  Speaker 1: Thanks Gerry, great talking with you.
• 28:08
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your
• 28:12
  Speaker 2: solution to today's trying times. For the latest, go to
• 28:16
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,