Latest / Financial Survival Network / “AI Threats to Financial Stability: Can Gold & Silver Provide Shelter?”- Darryl Schoon #6109

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“AI Threats to Financial Stability: Can Gold & Silver Provide Shelter?”- Darryl Schoon #6109 · Financial Survival Network

• 0:00
  The main play in Gold and Silver was to as an investment to make money.
• 0:06
  What it really is far more than that, especially what you can rig
• 0:10
  the game is it's a life insurance policy. You're listening to Carrie Leutz's Financial
• 0:16
  Survival Network, where you get valuable information you just can't find anywhere else to
• 0:22
  thrive in today's trying times. You need the Financial Survival Network now more than
• 0:27
  ever. Go to Financial Survivalnetwork dot com and get your free newsletter and gift.
• 0:33
  Financial Survival Network now more than ever. And welcome you are listening to
• 0:43
  and watching the Financial Survival Network. I'm your host, Carrie Letz. Well,
• 0:47
  our good friend Daryl Shoon is with us now. You find his work
• 0:51
  at d R Shoon f choo dot com. And hey, Daryl, you're
• 0:58
  forward thinker. So that we have to worry about AI or will we wind
• 1:02
  up killing ourselves before AI can get around to it. Carrie, Let's let's
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  uh, my answer on AI is SIS as the answer to everything? Or
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  what kind of answer it is. Let's dial back to the Middle Ages,
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  all right, Like let's say twelve hundred and we had some rudimentary form of
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  AI. Then if we asked AI is the world flat, The answer would
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  be yes, I mean, without a doubt. Yeah, oh no,
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  everybody's thought, from anybody who'd written anything, and probably was in Latin.
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  All right, is the world flat? The answer would equivocently be yes.
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  All right. So that's my thought. I mean, it's like I am
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  sure, Carrie, I mean what the fact One of my sayings is what
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  you don't understand is explained by what you don't know, all right, which
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  is true? All right? Would you? I don't understand it is explained
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  by what you don't know. So if there's more information, then it's probably
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  in that information. Well, the the idea that AI is going to go
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  through that information and find what's true or not is only dependent on whether it
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  is the prevailing thought form of the moment. Mm hmm. All right.
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  So if you asked, AI, shouldn't Galileo be put to death? Yes?
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  Right, right? And and then it will probably say and throwing Copernicus
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  for boot to boot, Yeah, both get rid of from Yeah, I
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  mean, and it's it's not that it's it's it's like it's like Google and
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  steroids, okay, and you know, and and my thought is he's sure
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  it has application, but The truth is, it's not more information that's our
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  problem. I mean we're browning. Yeah, okay, And and it's like
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  I made a joke about the CIA. I said, is if control didn't
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  work in the past or dictators, if control didn't work in the past,
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  more control is gonna work in the future. And that's how it is with
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  information. If we if are, if we say, if we it appears
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  that we have insufficient information, more information is gonna solve. I don't think
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  that's true. I think find me, I think I think. I mean,
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  for example, I'm so far off the charts carry because of my background.
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  I don't think like anybody, Okay, And in fact, I came
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  into this thing from a totally different point of view. In fact, I'm
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  gonna go on, I'm about to launch TikTok this week, all right,
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  And that's a totally different audience than the one we're speaking. Yeah, the
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  one we're speaking it out is they don't need ai for gold, silk for
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  things like that, all right. I Mean, everybody's on the same page,
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  basically, you know, we differ as to what's gonna happen with but
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  we're on saye page, TikTok hotly if an audience totally off your approach.
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  And so what I realized was I came out in a different way. But
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  but I think in that's this for what we're talking about today. In two
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  thousand and seventh, when I wrote my book Time of the Vulture, all
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  right, I predicted a severe economic crash, A crisis was going to happen,
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  followed by a catastrophic collapse. Did E COmON? That was in two
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  thousand and seven. In two thousand and eight, in September, the crisis
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  happened. Bear Stearns went down, AIG went down, the whole thing started
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  going down, all right. Then, So the crisis happened, but the
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  complete economic collapse didn't. Why that because in two oh nine the central backs
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  did something they had never done before called quantitative easy. All right. Now,
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  my metaphor for TikTok is the economy is like a toilet jingling to handle
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  no longer works. Okay, yeah, I mean I had the shift to
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  TikTok, all right. So I came up with that, all right.
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  And what I said was in two thousand and eight they were januaryd and it
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  didn't work. About so what the handle of the economic toilet as bro Kennedy,
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  it's broken that holy shit, all right. And so what happened is
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  because I realized that in four months this is we're in trouble. So what
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  they did in January two thousand and nine is they began doing something they'd never
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  done before quantitative visa. And my metaphor is what they did was they put
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  a garden a water hose in the toilet day all right. Why because when
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  they took gold and silver out of money, it had no value and what
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  it merely became was circulating credit and debt oka sitting around. And what happens
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  is when debt's default, which is what happens in a speculative crash like the
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  subprime crash and the Dark Karf crash. When you have a severe crash specuative
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  crash, debts can't be repaid. Everybody's on the calm, you can't make
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  good. I mean, they bet start calling in money. What we call
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  money disappears, all right, because it's not really money as we knew it.
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  Then, all right, it's circulating credit and debt. And so when
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  it's no longer circulating, what we think is money appears to this isaper it's
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  not there anymore, all right. So that's what they started doing in two
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  thousand and nine, in two thousand and every time after that because the boys
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  who control the game, it's not I thought about the gain of the banker's
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  gang capitalism because we could talk about skinning the game. You can't do me
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  this week, Arry. It is a game. It's the banker's gang,
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  and it's our skin. The bankers are play where it's our collected deposits,
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  savers, deposits that go into bag that allows the banks to leverage to make
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  ten times to twelve times the amount of loans on that and load it back
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  to us at quadruple the interest rate based on the loans that they're giving us
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  for our our CD or our Are you knowing what it's like? As if
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  the casino was actually gambling at their own casino with with every all the money
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  they won. Right, it's from us, yes, and that's what it
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  is. So the heights no longer is the house. No, but it's
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  true. So what happens is in two thousand and nine they had to put
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  a garden hose in the water tank. Just keep it going to fleshy,
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  all right, because people would notice, holy shit, I'll work it.
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  So and they know if this isn't right, because it's strung when you start,
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  because the guard because when they had when they liqui faded, when they
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  put more money in, what that means is they're putting more credit into the
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  system, all right, and the consequence of credit is debt. It goes
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  in his credit and immediately becomes debt. So though they know, they knew
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  the longer that O's was in the tank with with with the extreme amounts,
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  with the water pressure way up, that's not good for the toilet. Yeah,
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  we're all right that that it's a balance with you credit debt. And
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  so every time, and so what happened with the toilet, with the water
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  holes in the toilet, tank stocks started going up again, prices going Oh
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  so everybody who was in finances got richer. What because they are closest to
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  the water hose. Everybody downstream, retirees, workers, you know, you
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  don't get it. Everyge you don't even have access to it, all right,
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  I mean so, but the boys at the front and they get access,
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  they can jiggle with it. So but but what they tried to do
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  over the next decade, they tried to take the hose out of the tank
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  because they knew it wasn't good. Every time they did that, carry the
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  stock park went all right. Oh, they got whoa back, so they
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  put it back in. All right, use every time they tried to take
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  it out. Of twenty sixteen, they tried to make it out boat didn't
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  work, stay back again, all right, But they knew they had to
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  normalize it. But this became impossible at two twenty when COVID did. COVID
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  froze economic not only frozen, it contracted all around the world. The average
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  contraction of global credit dett icime was forty seven percent. All right, that
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  man debts were not going to get paid. It was going to collapse.
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  So what they did was instead of the garden hose with water, they put
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  putting fire hose in. Fire hose. Yeah, fire hose, boom,
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  fire hose, all right, boom. Because COVID money just totally disappeared.
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  So to keep you stigulating that a fire hose in it. And what happened
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  was this, those at the front of the line that fit finance community,
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  they got really rich. I mean really the houses went up by an average
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  of forty seven percent. So if you owned the home, your house,
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  your stock portfolio, everything you had, you're so stinging rints man, you
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  never had it so good. Okay, but those but because you had acid
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  inflation, they had so much money important into it. This time it just
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  didn't cause acid inflation. It caused general inflation. The price rise of necessities
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  went up. So the front boys of the firm of the line were richer
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  than ever and the ones who were at the back of the line they could
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  no longer afford rent or grocery up. And that's where we are today,
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  all right, we're And when they couldn't afford rent or groceries, that meant
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  that the fan had slow the rate of the the hose. Okay, what
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  he what happened? Stocks went down Boa and the stock boys go, wow,
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  this is good for us, because if it goes down keeps going down,
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  it's gonna affect the general economy and they're gonna have to turn the fire
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  hose back on. So they front were on this and that's why stocks went
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  back up, not because things are better, because the boys in the casino
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  anticipate they're gonna they the window, you know, the teller window is gonna
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  have to liquefy the game again. All right, Well, what those boys
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  are they're really freaked out because now they're betwetter walk in a hard place.
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  So the hope for the boys who are playing the who are the tables?
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  They want they want the the the the fire hose to turn back on again.
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  The central backers want to withdraw liquidity safely. And my TikTok uh,
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  what is it? Conclusion is the one is gonna get what they want.
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  The boys are not going to be able. They're not gonna be able to
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  turn it on. And got to the moon and the and the and the
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  central bankers are not going to be able to withdraw the liquidity safely. We
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  are and we the fifteen years that they bought when they put the fire hose
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  in. It's over quantitative easy is like it is like steroids. They work
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  for a while. Hey and just like just like the fire hose. Well,
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  look what happens when you have a little glitch and some code and half
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  the world's computers stop functioning? Does that a them? Also? That's absolutely
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  right. What's happened is when it becomes so hyper, when it because things
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  become so big. What was inconsequential before can become consequential. And I think
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  that's what Nassine Taled talked about. That's why he called them black swans,
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  because what wasn't a problem five years ago when the system was operating at ten
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  percent is a problem when the system is at a one hundred and twenty percent
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  of capacity. Yes, you could have faced it at five percent, but
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  not when it's running over capacity. I think he called it frangility or something
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  like that. Yeah, fragilita, it's fragile. Yeahah, that's fragility.
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  Yeah, fragility. Yeah, yeah, Yeah, that's exactly what it is.
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  Complex systems get more and more compliments, more complaint and then they,
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  you know, they fail at some point. Right carry, we're walking on
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  water and we don't know it. But the only sense of knowing that we
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  have. Everybody in the pit of their stemmach knows they don't know what's going
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  on, and they know it's bigger than that, right. They don't want
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  to out, They don't want to know. Ignorance is truly bliss. Right.
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  Well, it seems to be the only option we've got these days to
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  say. So you're not medication, Hey, you know what will Rogers said,
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  ignorance got us into this mess, and ignorance will get us out.
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  Well, that's good. That guy was nasty. That was that was a
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  nasty thought. So, like, you know, like I realized, these
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  masters of the universe didn't know what the hell they were doing. No mortgage
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  crisis hit because they weren't making money really in any of their other businesses other
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  than some M and A. So they figured out they could take these mortgages
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  and break them up into tranches and all that and all they did was like
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  over leverage and yah. Having been in the credit space for my whole adult
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  life, it was like to me, an emperor has no closed moment that
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  these guys don't know anything because all they knew. All they did was leverage
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  up already leveraged products that were you know, inherently worthless, a lot of
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  them. But you know it's amazing, Daryl, is that when all was
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  said and done and the bailouts came and everything else, they reinflated the home
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  prices and again mortgage backed securities made fabulous profits. Yes, Kerry, the
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  very interesting thing is that they do know what they're doing. They don't know
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  how to care, how to make it safe. But they do know how
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  to make money. That's all they know, and they don't care the risk
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  is causing because the risk is really ultimately advertised by society. They always,
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  as governments, need the banks to borrow and live for another day. So
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  they got a catbird seat. So you know the thing about what you talked
• 15:45
  about the Morgan's backed securities, how they went to how they invested in these
• 15:48
  different tranches. The story behind how the NBS got to where it was was
• 15:54
  was that Drexel Burnham had come up with a hybrid bond. Okay. Now
• 16:00
  bonds are rated triple A, double a a you know into the jutt okay
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  and triple a's a savest. Well, what Drekschel came up with and they
• 16:10
  passed on it was that at fifty percent of the bond over fifty percent is
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  triple A, the rescue be shit. So it's like going to your grossy
• 16:19
  going to going to your really expensive restaurant and you're getting a hamburger of what
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  and it says, weggy, you'll be you know, and you love that
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  Japanese the way you right right, and you chop it into it. But
• 16:33
  what they've done is because they needed to make more money. Is that they've
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  been You didn't know that the restaurant was allowed to put forty five percent Canter
• 16:41
  grade in in that meat. Can you notice there was a little off right,
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  not? But the price was the same, you know. And that's
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  where the deal get inside job because the boys who controlled the game, their
• 17:00
  purpose is to keep the game going, and they're flying by the seat of
• 17:03
  their pants. Scary, that's it, you know, Oh, you got
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  it. You know, they're flying by the seat of the advans. Hey,
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  you know, I'm surprised there are as many states death whose rated triple
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  A are better. I guess you can't get much better as there are,
• 17:22
  you know, like Florida, you would think, but Georgia and the Minnesota,
• 17:27
  Iowa, well they're conservative Iowa and Indiana. It's just amazing. But
• 17:32
  then like Kentucky is like in the toilet, you know, and Illinois is
• 17:36
  the worst. Yeah, Illinois is the worst of the Yeah. You know
• 17:41
  the reason. You know, there was a guy named Irving Weiss, and
• 17:48
  you may have been familiar because he was writing a lot when we started our
• 17:52
  deal. Okay, Irving, not not Irving, his father was Irving Weiss.
• 17:56
  All right. I forget his name, but his in fact, his
• 17:59
  father had made his fortune during the Great Depression, shortening the stock mark,
• 18:03
  all right, and it was hard at them, okay. And and the
• 18:07
  younger wise had come up with a company that rated banks and bonds, and
• 18:11
  you know, they gave real ratings. And the truth is this, Carrie,
• 18:15
  the ones who are doing the ratings, it's sort of like the accounting
• 18:19
  firms. Yeah, they're they're what they're what they're allegedly supposed to do is
• 18:26
  give us truth, all right, how okay, But what they're really supposed
• 18:30
  to do is keep the game going. Yeah, if if the counting firms
• 18:36
  were totally truthful, they wouldn't have gotten away with en Rod and this I
• 18:41
  mean I you know right now in China, uh, Price Waterhouse Cooper,
• 18:45
  Oh yeah, their ship. Why because the Chinese they're new to the game,
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  okay, and they sort of trust the system in ways they should so
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  when so, you know, they're making all this money on their on their
• 18:57
  property bubble Okay. When a bove would be flated, it showed that Price
• 19:03
  water House Cooper, who is the auditor of Banky, of all of Evergreene,
• 19:07
  of all the Chinese. You know they're because why they're a big name.
• 19:11
  You buy a big company, put in your brand up, your stick
• 19:12
  on the door, PwC. You know, on it. You know.
• 19:17
  So when they fail, what the investors did in China was about they blamed
• 19:22
  it in Price Waterhouse. The truth is everybody in the business had to lie,
• 19:29
  like Price Waterhouse. If you weren't willing to lie and validate it here,
• 19:33
  lose the business. Yeah, Moody is all that. You can't do
• 19:37
  it. We'll find somebody who said else. Yeah, oh Bill, okay,
• 19:41
  fine, you're gonna play hard ball with this and say we don't pass
• 19:45
  the stress test. Hey, alphone of Fred, he's you're bringing up.
• 19:49
  And you kne who Fred was? He used to work for him, Yeah,
• 19:53
  you know. And so the whole system, the whole system is exactly
• 19:59
  what you said. It's it's out of control. It's too complex, and
• 20:03
  it's and and and and the reason why it's going is that it's produced revenue.
• 20:10
  Because it hadn't produced revenue, it would have fallen by the wayside,
• 20:14
  to beget you don't think anyone then they wouldn't be have any So what's happened
• 20:18
  is it's still going, but it's going on gas, it's going on on
• 20:26
  fields Field, you know. So here we are mm hmm. Wow.
• 20:34
  Yeah, it's quite a quite a mess you've gotten using into here, Darryl.
• 20:38
  You know, I wrote my novel, but you sha't always get what
• 20:42
  you went. I said, and I talked about looking at that. The
• 20:47
  scene was pretty much this dark view, and my note was, I don't
• 20:51
  know why I had to be the one looking out the window. Oh man,
• 20:57
  what a mess. Many years ago, we used to go to parties
• 21:00
  here and Martha would ten tell me before we went to the party, says,
• 21:04
  don't say anything. These people want to have a good time. Doubt
• 21:11
  doubts douncts. Yeah, yeah, she's not saying that now, though,
• 21:21
  is she. No, Well, we don't go any parties anymore. But
• 21:26
  because I plumbed everybody out, solved that problem, didn't you. That's right?
• 21:30
  My in defense, I could say, well they were drinking more after
• 21:33
  I left. Good for the liquor stores. All right, So we go.
• 21:41
  We always go wind up at the same place we start, which is
• 21:45
  gold and silver. Right, gold. I've always said that golden silk.
• 21:48
  You know. The main play in Gold and Silver was too as an investment
• 21:55
  to make money, but it really is far and more than that, especially
• 22:00
  when you can rig the game. Is it's a life insurance policy. Okay,
• 22:04
  it's it's a Gold and silver is a It is a life insurance policy
• 22:10
  on the system itself, on the system of credit and debt. Light.
• 22:15
  Gold and silver is a life insurance policy on the lifespan of fiat credit money.
• 22:22
  That's exactly what it is. And the boy, there's so much money
• 22:26
  in fiat money that they've been able to manipulate the price for as long as
• 22:33
  we're here. But now you can see how the pressure is building because of
• 22:36
  the last year it's gone up twenty percent. Well, the truth is it
• 22:40
  would be far higher if they it was a free float, but they done
• 22:45
  it. So gold and silver, that's it. Gold silver. Take your
• 22:51
  breath, Sit back, and you know, I'm not saying to enjoy yourself,
• 22:56
  because you can't enjoy yourself with these times too problematical. But at least
• 23:02
  you will get through this and be able to grow, because somebody's going to
• 23:06
  grow again. It's humanity. It's gonna come up. And generally it's always
• 23:11
  been better as as doctor Hackett Fisher, David Hackett Fisher said, we go
• 23:19
  through cycles of growth collapse, growth collapse, and every cycle we go higher
• 23:25
  and higher and higher. So my feeling has always been a better world is
• 23:29
  coming. The present world is collapsing. What used to work no longer does,
• 23:33
  which is a side of the dives. Gold and silver is your is
• 23:38
  your transit. It's going to get you through so you can be here and
• 23:42
  start growing in the next cycle. Been to agree with you more and I
• 23:48
  took your advice to heart thirteen fourteen years ago, and no regrets. And
• 23:53
  the only regret is that I didn't buy more when I could have. But
• 23:56
  hey, what can you do? Just it? It works? So all
• 24:00
  right? Hey, Daryll always a pleasure. Make sure you check out Daryl's
• 24:04
  site dr shoon dot com and check out TikTok. What's the tick yet?
• 24:11
  I mean, is it very TikTok? Daryl Robert June author, But no,
• 24:15
  I haven't posted an yet. I'm gonna start posting in the next two
• 24:18
  weeks. I'm gonna subscribe and I'll comment. And hey, question for Daryl
• 24:25
  or myself k l at carrie lets dot com. Send an email Daryll Always
• 24:30
  a Pleasure. We'll talk to you again real soon, same here. Thanks
• 24:33
  for listening to Carrie Let's this. Financial Survival Network your solution to today's trying
• 24:40
  times. For the latest, go to Financial Survivalnetwork dot com. Financial Survival
• 24:45
  Network now more than ever,