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Summary
➡ The article discusses how China has been strategically investing in American private equity firms to acquire U.S. technology companies. This has been done through large funders like the Texas Pacific Group. The article suggests that this strategy has led to a national security failure on the part of the U.S., as it has not been monitoring these activities closely. It also touches on the influence of central banks on the economy, and how they control the nation’s currency, affecting inflation, growth, and employment.
➡ The Federal Reserve and other global banks have been giving trillions of dollars to foreign banks, even when it wasn’t their role. This was done to keep their system alive and manage the flow of credit. Central banks have a lot of control over the economy, including the ability to influence interest rates and investor confidence. These banks, including the Federal Reserve, the Bank of International Settlements, and the International Monetary Fund, have a significant impact on global economies and can determine which countries prosper and which struggle.
➡ The speaker discusses their belief that the true culprits behind major crimes often go unpunished, using the 9/11 attacks as an example. They also warn about scams involving gold IRAs and urge people to be cautious with their investments. The speaker criticizes the media for spreading misinformation and lies, and expresses concern about the impact of this on the public’s ability to make informed decisions. Lastly, they discuss the negative effects of deregulation in industries like airlines and telecommunications, arguing that it has led to worse service and higher prices.
➡ Employers are expected to check their employees’ immigration status or face penalties, but this rule is often not enforced. The public is often misinformed about political issues, and both the left and right have common goals they don’t realize. Wealth is increasingly concentrated in the hands of a few, leading to a shift towards oligarchy. The financial system is at risk due to excessive lending, and the impending collapse could be worse than the 2007-2008 crisis.
➡ The text discusses the current political and economic issues in America, highlighting the influence of special interests over politicians, the lack of public understanding of policies, and the growing wealth gap. It also criticizes the welfare system, suggesting it’s being abused by some for personal gain. The text suggests that these issues may lead to a societal collapse unless significant changes are made. It ends by questioning whether the government will collapse and if the country will split up like the Soviet Union did.
➡ The economy’s health depends on the amount of money in circulation and how quickly it changes hands. However, wealth is increasingly concentrated in fewer hands, which is problematic. One proposed solution is to change the tax system, possibly replacing income tax with a national sales tax. This could encourage saving and address wealth inequality, but it also raises questions about government control and manipulation through tax policy.
➡ The speaker discusses the effectiveness of Nancy Pelosi as a Speaker of the House, despite not agreeing with her policies. They also express the need for more political parties in the U.S. to bring different dynamics into political debates. The speaker also talks about the value of silver and its increasing use in technology. Lastly, they touch on the issue of illegal immigration and the lack of enforcement of laws against hiring illegal aliens.
➡ The speaker criticizes Marriott Corporation for hiring illegal workers, arguing that if jobs weren’t available, these individuals wouldn’t stay in the country. They believe that much of politics and decision-making happens behind closed doors, and that the public often doesn’t know the full story. The speaker feels that politicians lack the will to challenge the system, but emphasizes that the public, if united, could exert significant influence. They also mention their appearances on various international media outlets, expressing gratitude for the opportunity to share their views.
Transcript
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Okay, back to the program. Welcome to business Game Changers. I’m Sarah Westall. I have Mike Harris returning to the program for our Friday night economic review. He is the former financial editor of Veterans Today but he’s also a business executive and a financial expert who is in high demand around the world. He goes on media all over the world. You don’t see him as much in this country but the rest of the world. He’s on all their major, not all, but a lot of the major media outlets. And he’s going to come on and talk about the different power struggles we have that are putting pressure on the United States.
He’s also going to talk more about the role of central bankers and then he has an Interesting story at the beginning about how he was working at Motorola which was the largest semiconductor business in the world at that time. They’re no longer doing it but at that time, at the end of late 90s they were. And his experience selling a division of that company and how his he had an offer for $1.6 billion and the company ultimately took an offer from a Chinese company for $1.3 billion, $300 million less, which makes no sense. And he’s going to explain how the Chinese were able to take over that board and essentially acquire tech and how they do it, how they are taking over.
They have hundreds, they think in hundreds a year terms and they plan things out in this country. We are nowhere near that. I mean we operating without an intelligence network when it comes to protecting what we are. And so we talk about that and what our true pressures are are and we get into an interesting topic on 911 and what 3 he says there’s only 3 powerful groups in the world that had the kind of power to do what they did on 911 and get away with it because everybody gets away with crime. Right. So who are the powerful people who actually had that kind of power? And he’s going to talk about that as well.
And then we also of course bring up the gold and silver and why it is going to be more, increasingly more important that you safeguard your assets with gold and silver. And people who watch this show know that I use Miles Franklin because they have proven to me that we can trust them. Not only do they have the best premiums in the industry. If you go to sarah wessel.com Miles Franklin fill out that form, you can get access to their private price list which will give you the the best prices but they give you really good service and you can trust them.
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So if you get a chance, go watch that. It’s@Sarah Wessel.com and you’ll find it there. Or go to my substack@Sarah Wessel substack.com. okay, let’s get into this really good discussion with Mike Harris. Hi, Mike. Welcome back to the program. Hi, Sarah. And thank you for having me again. I’m just honored to be here. Thank you. Well, I want to. We didn’t get the chance to talk about some of the topics that I thought was really important that I wanted to bring you on. We got sidetracked. But the topics we talked about was important and it was actually like, okay, this is interesting, but I wanted to talk about central banks and how they are, they’re the control, they’re the power structure of, of the global financial system.
Right. And they’re hidden for the most part to the average person. And I want people to understand what these powerful structures are. You know, what the control that they have. Before we get into this, and I know you’ve talked about your background multiple times on my show, but can you talk a little bit about your financial background and your, some of your experience with central banks and understanding how they function and so that people get an idea of and even if it’s just research, you know what? Because you are, you’re the financial editor of the Veterans Today, and you’ve done a lot.
Well, I was a financial editor of Veterans Today. I have an MBA in finance from Pepperdine University. And, you know, I’m just a guy who somehow got involved in first with private equity. That was my inroad there because I was trying to buy a Motorola division, one of their semiconductor. Actually, their semiconductor component group. I tendered a $1.6 billion offer for it back in 1998 and was beat out by a company called Texas Pacific Group, which paid offered $300 million less than what I had offered. And so I was really puzzled by that and so did a lot of research and things and covered things.
And you look at the connections and, you know, it’s a long, difficult story, but essentially the motor. Well, I shouldn’t even go into this, but no, I want to know why would they have taken $300 million less? 1.6 compared to 1.3 is pretty substantial. That’s, that’s adult money. They, they justified it because it was less than 5% of the company’s total revenue. So it was not considered material to report, but they, they took it. That’s 20%. Well, no, considering Motorola was doing $35 billion, 20% of the revenue for that specific purchase. I understand the overall revenue, but.
Yes, but Motorola as a, as a corporation was doing over 35 billion a year at that time. So it was less than 5% of that. So it just squeaked under the edge. So they didn’t have to report it and justify it. But there was, which was significant. Yeah, well, there, well, the thing of it is, is the Chinese wanted the Motorola assets. They wanted them. And so they, they laid out a plan to where they had American citizens who were Chinese, they funded them to make investments in various private equity funds and they, you know, then influence with private equity funds to say, buy Motorola shares to where they could position themselves to take control of the board away from the founding family.
But that’s a whole nother story. That’s not why we’re here. We’re here to talk about what do central banks do. We’re not buying. You always bring up a brilliant. I know, but you bring up, hold on a second. You bring up this really interesting story and because that’s really important and then we get sidetracked. But you’ve got to finish this. How? They, they essentially sabotaged the deal and caused the company to make a decision that actually wasn’t the best decision for them. But it allowed the Chinese to get control of it at the least amount they could buy it for.
No reasonable business person would have selected that. The reason they, is because they, they’ve got controlling interests of the board is what you’re telling me. Yeah, that, that’s. I gained that information from one of the Galvin family members who I met with, you know, 15, 20 years after that. And he and I had a sidebar conversation that Motorola was 88 years into a 100 year plan. They were on track to make the plan and essentially they lost control of the, of the board. And so this group, Texas Pacific Group, their biggest funders were Chinese. And so you look at where the money goes and how it flows and that’s who controlled it.
There was an article, I think it was yesterday out about this, about how China has been playing chess. Everyone else has been playing checkers as far as how they invest in private equity companies in order to acquire American technology by buying it not through a Chinese company, but through an American private equity firm. And then they, you know, have access to the technology, they have control of the board, they have control of everything with it. Hang on, let me, let me see if I can find this here. I might be able to get that. Excellent. If I can have that Link below in the show notes so people can read it.
But essentially they’re out strategizing us because we’re not even strategizing. I mean, we’re not doing anything, it seems. I mean, for the most part, we took a little break here because you had a little technical difficulties. But we’re back. And you. I’ll have the link below. It’s a. You said it’s from Fortune magazine. It’s Fortune magazine link. And okay, really it’s about how China has been investing in private equity firms and using private equity firms as their vehicles to acquire American technology companies. And They’ve got over 200 billion that they’ve invested in this and they’ve bought up a lot of American technology.
And once you have the technology, it’s over there in China. Once you control the company, you can decide what agreements they sign, where it goes, where they manufacture everything else with it. So China has been busy doing this. And this has really been a national security failure on the part of the United States. Our national security apparatus just isn’t monitoring these things very carefully. And if it’s too much for them, then they ought to get out of the way and put somebody in there who’s capable of doing this if it’s too much for them. Yeah, well, it’s true.
We’ve had so many strategic failures. The fact that we have to struggle with a semiconductor, with a domestic semiconductor that doesn’t exist, industry that doesn’t exist in this country anymore. I mean, 1998, Motorola was the largest manufacturer of semiconductors in the world, both in dollar volume and in unit volume. They were the big dog. They were the ones producing the most. And now it’s gone. They’re out of business. Motorola doesn’t exist in the semiconductor business anymore. And in 1998, they were number one. The deal I sent you, in fact, I sent you a link from the Wall Street Journal of the article that was put up when I made, when I tendered that offer to buy that division.
But China won that one, using American private equity firms to make the acquisitions for them. That’s how it works. Okay, well, let me ask you right now, there’s a big media push narrative that the Muslims are taking over Islam and the Middle east and it’s swaying away from the China, which you’re just talking about. It’s also going away from the central bankers. It’s going away from any influence Israel has. It seems like they’re trying to deflect blame to other people, even though they probably Islam and Muslims and some of the stuff is, I mean, there’s a lot of pressure on us from all different directions, but it’s as if they’re putting all the blame in the media towards that group.
What is the deal with that? Because it just seems. Well, you know, they’re. One thing that the Israelis, the Jews are really good at is committing crimes and getting another patsy to stand in their place to take the punishment. They’re, they’re very good at that. You go back to JFK, you go back to 9, 11, you go back to all these things. They’re really good at naming patsies. That’s one of the things they do. Now the Muslims have come out and declared that they want Islam to rule the world. They want a global caliphate. So they’re, they’re going out and doing their missionary work in order to persuade everybody else to become a Muslim.
And you know, they, they are indeed a threat if you want to be a free thinking sovereign individual or sovereign nation, that you want to practice your, your own choice of religion and not the, the one size fits all Islam. But they, they are threats. So don’t mistake it. They are. However, we have other threats. I mean, China is a threat in other ways. China is looking for economic domination over the world. They’re looking for technological domination over the world. They want to be the big dog. And we have had that place for a long time since the 1960s, and we have not been very good at protecting our strategic interests, let’s just say.
And so we have the Israeli Jewish interest here where, you know, look at all these congressmen who are, you know, let’s just say clients of apac. Let’s just say that APAC gives them money for their campaigns if they take an anti Israeli position, they fund their competitor and they get them elected out because like it or not, in the United States, 96% of the time the candidate with the most money wins. That’s right. Which is why these guys are so vulnerable to campaign donations and doing what they’re told by the lobbyist and the, the various lobbies.
Let’s just say that. Well, so we, we’ve got a flawed system, you know, I mean, you know, Reagan was on the right track whenever he outlawed lobbying for about six weeks. And Gucci Gulch dried up. And I don’t know if anyone remembers that or not, but that was one of his big breakthroughs. But now since Citizens United, a Supreme Court decision was passed, now every company has, every corporation has the same right as a, as a citizen to be able to give as much money as they wish to protect their freedom of speech. It’s a really lame ruling and it really opened the US up for a lot of dark money coming in.
And that’s what’s happening. Well, the reason is, I mean, you look, you can go to Delaware and you go to Delaware and all you have to do is list who the incorporator is. You don’t have to list who the shareholders, the investors, none of that. You don’t have to list it. So you have essentially anonymous ability if you register in Delaware. So if you’re a Mexican drug cartel and you want to influence American politics, you go to Delaware, you form a corporation, you dump 100 million bucks into it. And the corporation, the American corporation, then, because they’re Delaware registered, hires a lobbyist in D.C.
and they go out and whisper in all your congressman’s ear and promise them campaign donations, and they do what they’re told. And that’s why our, one of the reasons our politics is so distorted and does not reflect the will of the American people, but instead affects the will of the special interest, let’s just call it. Well, okay. And speaking of special interests, the City of London and the central bankers have a lot of influence. They do. And if you ignore that, you’re ignoring a huge part of the power, you know, the global power structure. So can you explain how that works a little bit? Well, what central banks do, people need to understand this, is that central banks are the ones who issue the nation’s currency, which means they control the lifeblood of the economy, they control liquidity, they control credit availability, and they control the cost of borrowing.
So with the money monetary, the money supply control, they can expand or contract the supply through open market operations, buying and selling government bonds. And that directly influences inflation, growth and employment. So if you increase the money supply, you get more inflation, you get more growth, you get more employment. If you shrink the money supply, you get less growth, less inflation, less employment. The interest rates, the other thing they control, by raising and lowering the benchmark interest rates, they determine how cheap or how expensive it is to borrow. If you want to buy a house and the rate’s 3%, it’s pretty cheap to get into the house.
If, if their interest rate is rated, you know, 8, 10, 12%, gets pretty expensive to be in the house. So you, They’ve got a lot of, of, of control over these type of operations. It’s really. They have a lot of influence over it. Well, they have even more than we. They have even more than People realize, which we re, which we sort of realized after the 2008 crisis crash. And they did a partial audit and they showed trillions of dollars being funneled to all these other foreign banks. Yes, they were funneling. They, they used the Federal Reserve as one of the fallback positions.
You know, the Federal Reserve, the Bank of International Settlements, these are the go to guys. And the U.S. the Federal Reserve had no business giving money to foreign countries to foreign banks. But they did and they did. They propped them up, they sustained the whole system that way. But you know, that’s, it was one of their many functions during that last crisis. We had the 20078 mortgage crisis. It was incredible. It was incredible because they did this huge congressional vote for what, 900 billion meanwhile, just that partial, that partial audit showed 16 trillion or something that was going on.
And so they did this whole charade in theater about giving out, you know, 900 billion, but behind the scenes they were giving out like 16 trillion. Yeah, that’s what. Well, they, they have to keep their system in place. I mean that’s one of the things. We’ll get to that in a minute. But the system depends on the system to keep itself alive. The other thing that they can do is credit flow management. This is another one of their tools that they use and that’s their reserve requirements and policy signals. They can influence whether capital flows into productive enterprises or speculative assets.
So when things start speculating, and I brought up the mortgage crisis a moment ago. Interest rates were cheap. People were buying houses they couldn’t afford. They were, they, they lowered the requirements for what it took to qualify for a loan. I don’t know if anybody remembers the NINJA loans. No income, no job, and they still give you a loan at, you know, 4 or 5%. It was pretty good. And so the bottom line, it was pretty good. Yeah, well, it wasn’t. I had no job and no income. And you still got a freaking loan. It was until it wasn’t.
Yes, exactly. Whoever controls the, the cost and availability of money controls the tempo of the economy in that country. And, and that’s really what, what the central bank does is they’re, they’re the ones who, who control it. Well, can they take out, can they determine whether wars are going to get funded behind the scenes? Can they determine what. I mean, how granular do they have the ability to afford, affect the, the economy and what actually goes on? Because we had Mark Carney, right, the Prime Minister of Canada talk in 20. Was it 2020, I believe, where he said that we are going to go around government budgets and determine, or go around governments, determine their budget based on carbon credits.
And that was going to flow down from the central bankers. And I don’t believe they actually were able to implement it quite like that. But their goal was to pretty much determine all manufacturing and industry and pretty much set policy at the central banking level. So how much control do they really have now? Well, they have a lot. And so, you know, every sovereign government relies on their central bank for debt issuance in liquidity. And so when a government runs a deficit, it borrows where government central bank plays a pivotal role in that borrowing. So if you’re central bank, you know, backstops your bond issuance, you’re probably pretty good, it’s probably going to be a success.
And so that, that’s how they do it. And so it’s, they have leverage. And so any government that defies monetary orthodoxy, printing money, defaulting, defying external pressures, they risk higher interest rates, they risk capital flight, they risk loss of investor confidence. And this is triggered by the central bank’s policies and its communication. So they can whisper things out in the market and they can, they can have people say, oh, we’re losing confidence in this country, we’re going to take our money somewhere else. You know, we’re losing confidence. Hypothetically, an example would be France. France is not doing what we want them to do.
So we’re going to make the money in France leave. So then there’s less money for, for anything the government wants to do or anything the people want to do. The economy is not going to do as well. Well, if the money leaves the country. So that’s how again another influence of the volume of money. And so there’s the world stage. You’ve got three major players here. They’ve got the bank of International Settlements that I mentioned, the imf, International Monetary Fund and the Federal Reserve. And so the US because we have reserve, global reserve currency status, most international trade and commodities and debts are dollar denominated.
And though that way any decision the Federal Reserve makes has a global influence on it. Now this is being changed by the brics countries coming alive. If you follow that. More and more countries are joining and they’ve decided to take transactions to not be dollar denominated. You know, Russia is accepting Indian rupees for oil. You know, that’s, that’s instead of more countries that want to join the BRICS than don’t. I mean the majority of the countries do. And there was a point where it’s only going to be like the United States and the UK kind of that and Canada that are not part of it and they’ll probably fold before we do and they’re just going to let us hold our bag.
I think that London’s going to have to stick around with us because we’re so intertwined with them. But where’s Israel at with that? Are they part of our clan too? Well, Israel is protected by the City of London. They’re the ones who funded them, they’re the ones who made them possible. They are the City of London for, for practical purposes, aren’t they? Well, actually the City of London is Israel. You know, that’s better to say it the other way around. Yeah, yeah, they’re, they’re kind of have mutual interest, let’s just say. But let’s go back to the imf.
You know, countries that require IMF loans or support, you know, they’ve given over a lot of control over their sovereignty. So if they wanted to have a generous social welfare program for interest and for instance, and the IMF says no, you’re spending too much on social programs, you need to cut that down. They can force that country to implement austerity and then everybody in that country who’s on any sort of government program, whether you’re employee or whether you’re a pensioner, suddenly your belt gets tighter, you don’t have as much money because they forced austerity upon you.
And then the bank of International Settlements, they’re the ones who they, they set the capital requirements and the risk taking rules for all the global banks and, and they shape how credit can, can be or will be created anywhere on the planet. They’re the ones who are, who have that much power. So this becomes really a transnational governance structure more than any national policy. No country is really quite strong enough to stand up against these influences. And, and that is how we’ve got really the, the global banking institutions really act as a government of governments. They’re the ones who, who decide which countries are going to prosper and which ones are going to have a, have a tough time.
So you know, there, there is a private sector nexus and there’s a financialization that goes with this. Modern central banks don’t operate in isolation. They are, they’re intertwined with private financial institutions that act as conduits of policy and they’re very often the beneficiaries of these policies. In the US you look at our big banks, we’ve got Chase, we’ve got Wells Fargo, we’ve got bank of America. These guys are all tied in together tight with the Federal Reserve. Now the next thing beneath the Federal Reserve are the, what they call the primary dealers. If you look at Howard Lutnick, Cantor Fitzgerald was.
His company at the top of the World Trade center got blown up. They were a primary dealer. They were one of the companies that the Federal Reserve gave the paper to. It was their job to sell that paper to the, to the rest of the world. That’s what Cancer Fitzgerald did. And now do you think it was a coincidence that they were in there at the time that people were in the company? No. Cantor Fitzgerald was one of the main, I mean, a lot of the employees at Cantor Fitzgerald got nailed in the 911. Yes, they did.
However, Howard Lutnick, who is now Trump’s Secretary of Commerce, was the guy who was the CEO of Cantor Fitzgerald and somehow he didn’t go to work that day and miraculously survived. And so, I don’t know, I, I would go if I ever wanted to really understand what happened on 9 11. He would be one of the guys that I would question, you know, waterboard or whatever, wherever it takes to make him talk, you know. But I, like I said, I don’t, I don’t see how these guys get it, get away with it. You know, the, the bottom line is here in the USA, 911 was a great tragedy for us and we have not recovered from that yet.
And the reason we haven’t recovered is the real perpetrators. It wasn’t 19 Arabs with box cutters who brought down the Twin Towers. I think everybody can realize that by now. But the real perpetrators are walking around. They got away with it. You know, they got away, got away with it. But that’s kind of the story of our country, right, is that the people who are doing these massive crimes are getting away with it. I don’t believe for a second the people who are really being behind Epstein are going to be, you know, come to justice. Maybe some, maybe they’ll use it to get to some of their enemies, right, who don’t have power anymore.
And then they can say, see, we’re taking down all these people. But the real perpetrators, I just don’t believe for an instance they get, they’re going to go down for this. But now who’s behind it? Who has that kind of power to be able to protect criminals at this level? Just a quick break from the program. I need to share with you an urgent manner about scam, gold, IRAs, and the important need to make sure that you’re Working with a trusted company in the precious metals space. I have had hundreds of people come to me now where they have lost 50, 60, 70% of their life savings in these scam gold IRAs.
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My opinion and only my opinion. Israel, the, the, the city of London and their agents and elements within our own government are the ones who have the power. Those are the only three characters that really have that kind of power. Those are the only three who really got that much juice. Yeah. And nobody wants to talk about. Everybody wants to pretend that was 19 arrows with box cutters and that’s. It really is so dumb. I know. No, the thing of it is what let’s, let’s look at what a 737 aircraft is. Let’s look at what it is.
It’s really an aluminum tube, okay. It’s made out of aluminum. It’s as lightweight as it can be to have the strength that it requires. They do their best to make these things lightweight. Now if you took an aluminum tube at 400 miles an hour and ran it into the, the World Trade center, what do you think is going to happen? It’s gonna, it’s gonna crush like a light, like a, like a, like a can, like a, like a tin can. It’ll break some windows and create some damage but it’s not gonna, it’s not gonna, it’s not going to turn, you know, 100 plus story building in of steel into dust.
It just doesn’t do it. Well, come on. And the box cutters in a cave are the ones that figured it out, got around our whole intelligence apparatus and our whole military. Well, like I said. Do you want to continue on 9 11? You want to talk about more about central banks sidetracked with really cool conversations. But I think it ties into it in the sense of who has this kind of power. Well, it does. And you know, we have to look, we can’t trust our media to tell us who the enemies of our country really are, we have to do our own homework and figure it out ourselves.
Because the news media lies. There’s no ifs, there’s no ands, there’s no buts about it. The legacy media lies. Everything out of their mouth is a bunch of lies or it’s a lie by omission. Right. They’ll tell the truth because they don’t want to get. Some of the stuff is just outright lies. And it’s like, wow, being in this industry and you just know it’s an outright lie. It’s like pretty incredible. But other times it’s a lie by omission. And they, they say just certain facts that create a story and they leave out a lot of other facts.
And you can really create some interesting stories by doing that. Well, you know, the lies by omission. I kind of like this one because it’s one of my favorite analogies. You know, a guy calls his wife and says, honey, I’m going out with the boys after. After work for a couple of cocktails. And she goes, oh, okay. What he omitted to tell her is they were going to the Boom Boom Club and he was going to dump 200 bucks on a table dance. I mean, that’s what he didn’t tell her, that that was a lie of omission.
And if she knew the whole truth, she’d be pretty upset. But he didn’t tell her that. And that’s kind of what our news media does a lot of the time. And other times they just tell us straight lies. I mean, they just lie to our face. Yeah, the straight lies are really. Well, they should be both infuriating. Right? It’s just as bad. Well, they are. I mean, you know, our whole republic depends on having an informed electorate. Okay? And when our news media has been hijacked and subverted into telling us lies, we are no longer correctly informed.
We don’t have accurate information. And so we lose our power to make our own decisions. We lose our sovereignty because we don’t have accurate information. We’ll fight publicly or support a cause based on faulty information because the information they did feed us, it would make sense for a logical person to fight for a cause, and they just weren’t given all that information. And so you’re helping, You’re. You’re a stooge, helping them create their crimes a lot of times. Well, and, and that’s how we refer to uninformed people as the sheep. You know, I mean, there’s sheep out there.
Among us. And you have to work to be informed. And so anybody who depends on the legacy media, you know, the, the cable channels, any of them, you’re, you’re, you’re being lied to. You’re, you’re being not misinformed, you’re being malinformed, you’re being improperly informed with malicious intent. And, and that’s what’s really going on in our country. It’s one of the most important things we can do is to get the truth and tell the truth. And then you have a guy like Barack Obama who came in and changed our law so that the, the people can now, they can now promote propaganda.
Smith Mutt act in 2012. Yes. Among the American people. And so how, how is our republic expected to survive when it requires an informed populace to make decisions about who’s elected when we don’t have the information? That’s correct. We, we can’t do it. Well, the George Soros gave the ACLU $50 million to help sell that law, and they can’t win out that year and told, published all these things that went in front of Congress and said that if we pass this law, it’ll be the best thing for free speech we’ve ever had, kind of thing. And they passed it.
Well, they tell us a lot of stuff that doesn’t quite work out the way they said. I mean, we go back to the Reagan administration. He told us that if he deregulated the airlines that prices were going to get cheaper, going to have more competition, it was going to be better service, things were going to get better for us. And, you know, we used to have 52, 53 national carriers. We’re down to what now? Five, six. And prices haven’t gotten cheaper, service has gotten worse, and everything’s gotten more expensive. I mean, they used to check two bags for you for free.
Now they want 50 bucks a piece for them. Well, they’ve nickeled and dimed. Yeah. How have things gotten better for us? I mean, you know, I. Granted, there is an inflation, inflationary element in the price of airline tickets, but they’re just really beating us to death. I mean, I don’t know if you, you’re probably not older to remember this, but they used to serve meals on airlines. Do you want the chicken or the beef? They gave you a little, had a white tablecloth that went on your tray and they actually had silverware that was made out of metal.
You didn’t have to eat with plastics. They didn’t have to pay, you know, $15 for some lousy chicken wrap or something. You know, I mean, it was all part of the package. And you know, like I said, our government tells us things are going to be good when they’re going to be bad. The same with telecom deregulation. It was a terrible move for us. The Simpson Mazzoli act of 1986 was going to end illegal immigration. It was going to end it because we were going to grant Amnesty to the 400,000 who were here here and everyone else.
All the employers were then going to be responsible for verifying the, the, the immigration status of their employees. Otherwise they would have to face a $3,000 fine or six months in jail. Never enforced. Not never, they didn’t enforce it. The ideas sometimes are, are well meaning and good and then they never enforce it because they didn’t really. It’s never a truly bought in in principle, it’s only partial. And so they allow that to happen and then they just don’t enforce the rest of it. That’s what we get though, right? But don’t you think it’s because we’re not informed? I mean the more informed we are, but we never can, we can never agree on things anyways.
Well, there’s a difference between agreeing and being properly informed. Neither the left or the right, who have seen the biggest disputes going on right now in our country, neither side is correctly informed. That’s a bottom line. And really the left and the right have far more in common than they know about the goals they want to achieve. You know, the right wants everybody to have access to a job, be able to work, be able to make good money, do that. The left wants more social programs and other things benefit other people. But you know, as Reagan said, you know, the, the best social program is a good job.
And so everyone is opposed to the concentration of wealth and fewer, fewer hands. And that’s one of the biggest problems that this country and every country in the world has. As I said last time I was on, we have a problem in that we’re losing our ability as a democratic republic to affect the will of our government, to affect the actions of our government. More and more it’s going towards an oligarchy where very, very wealthy individuals have disproportionate influence over the millions of people that, that live and work in this country who are citizens. We don’t have control over the policies of our government because it’s been taken from us by this oligarch class.
And so that’s really our, one of our biggest national emergencies. Right. There is Is that by itself? Well now the oligarch and how much is that? The central bankers and how much of it is the system itself collapsing in on itself because it just doesn’t work for the people? Well, the biggest problem with the system collapsing is it’s a fiat currency. It’s secured by nothing. You know, just, you know, the promise that the good faith and credit of the United States is going to back up these things. What they’ve done and the central banks have done this is they have over lent more money than can be repaid.
So whenever, you know they’re, you’re, you always have to be working, making money in order to have people service your debt. They’ve lent so much money that the debt service is starting to collapse from the outside in. And so there’s not enough money to go around to pay all the debt that exists. So as one company can’t pay their debt to another company that impacts the next one up the, the supply chain effect. And this goes all through it. And that’s why we’re seeing so much aggressive action globally that the US is rattling their saber. You know, the adventure in Ukraine, Israel bombing Iran, all the, the spreading of the, of the, the greater state of Israel, the war.
The U.S. you know, loitering off the coast of Venezuela talking about drugs. Well, the drugs are a real problem. We have a real problem here. We’re losing you know, how many hundred thousand people a year through drug overdoses. That’s a problem. But the real prize there is that Venezuela is sitting on the largest known reserve of oil in the world. I mean that’s a big deal. And so we’ve got 37, $38 trillion worth of debt. They’re sitting on probably, probably 60% in value in oil of that amount of money. So they could really do a lot to pay off and service that debt if they had control of the Venezuelan oil.
So there’s a lot going on behind the scenes. It’s all about money. Our system is going to collapse because they have over lent money. They’ve lent so much back that all the loans they have out there cannot be serviced. And so we’re going to see this, it’s coming our way. You know, we’ve got the 37,38 trillion debt of stated debt, but then you’ve got another 200 trillion of unfunded government mandates out there that, that have to be paid. Then on top of that you’ve got the derivative problem, which is somewhere between 2.4 and 4.2 quadrillion dollars.
I mean we’re talking really big money. Really. I don’t think we can comprehend that. Let me ask you, okay. In 2008 or with that whole. We just talked about that earlier about how the central bankers were spending 16 trillion on these other banks and that was just a portion. We didn’t get to see the full audit. What’s going on now behind the scenes? Boy, that, that’s a good guess. They’re, they’re trying to keep this thing together with, you know, string, bailing wire and duct tape. You know, they really are. But it’s, it’s coming apart. We’re seeing this in the recent pretty fast rise in the price of gold and silver.
And that’s one thing that, that we don’t do. And back in the, the crisis of 2000, 2008, the smartest thing to have done would have been to have let these too big to fail banks. Let them fail, send them into receivership, break them up so that they’re not, you know, five, five ginormous banks. Now they’re a thousand smaller banks with this one has good assets, that one has bad assets. But you know, George H. George W. Bush interfered in that and Obama did too. He was the one that took over. They both did everything they could do to hold the financial sector together at that time.
And were they getting direction from above? I mean it wasn’t just. I don’t think they even knew enough to. No, I’m sure they were getting either marching orders from, that’s right, the owners of the Federal Reserve as well as the City of London, which really is one of the forces behind there. And so that’s. These are the problems that we have. There are solutions. There were. Our government didn’t have to do anything except stay out of the way and let the two big, the failed banks fail. I mean that was all they had. Deutsche bank would have failed.
There would have been a collapsing banks all around the world. They were worried that it would turn into a contagion and just like totally take the entire economy. But you don’t think that would have happened. And now we’re in the situation we’re in, it would have been okay because we have a process of bankruptcy and receivership where all these debts, all these banks, anything, anyone that files bankruptcy can be restructured in a way that makes sense. They can renegotiate their loans, they can renegotiate all of this. Anybody who’s been through the process understands it. And so you can renegotiate everything.
A lot of people are Going to lose a lot of money. But how much of it was one big laundering operation? I mean I’ve seen start to think when I was watching back then it felt like so much of that money was just funneled so people can make a fortune. But I’m wondering now when we look at, I think the problems we have now are much bigger than what we had then. And you know, these overnight repo loans that you’re seeing is an indication of how much they’re actually funding behind the scenes. Well, it is and like I said, we would have been fully recovered by now if we would have allowed that failure.
What they’ve done is kick the can down the road because they didn’t want to take the sharp, the short term pain. Now we’re way further down the road and the, there’s not going to be short term pain, it’s going to be long term pain. Now this is going to be a much, much worse collapse than if they would have allowed this to happen back in 2007 and 8. Much worse. And so you know, here we are, we’re, we’re on the precipice, we’re waiting for it to go. You know, we will see how this works out. But you know, the world’s not going to end.
People, you know, the, the little guy always takes it the worst. You know that the big guys always skate. They, they never lose a dime somehow but the little guys are going to skate. But what will happen with that is we’ll probably want a new government or a new set of politicians running the show and with the expectation that they’re going to be able to bring discipline back into the, to the banking world. It’s going to be a power vacuum, isn’t it? It’s a very dangerous time. It is, it’s going to be kind of fun to watch but you know, we can bring back.
It’s fun and dangerous too, right? I mean we have to be astute. Well, like I said, it’s, it’s going to be turbulent for a while but we have the ability. I said last time, we have no problems we can’t fix. We just have to have the political will to want to fix them. But the problem we have is that we have special interest who have a louder voice than we have. They have more influence with our politicians than we do. We’re, we’re malinformed and we don’t have enough influence. Our votes don’t matter. They, they buy the attention of the voter by ads, not by research.
You know that where People don’t really understand. Oh, well, he seems nice and he’s young and he’s a Democrat. I’m going to vote for him. I like him. Oh yeah, exactly. What is the public image that this politician, either side, left or right, Democrat or Republican, what is the image they project? Not what are the policies mean and what are the effects of these people policies? This is where the American people have been failed by the news media and by our educational institutions. Well, do you think the people are capable anymore? Some are, some aren’t. I mean, to be honest, we have a large enough percentage of people that are capable of making these decisions.
I mean, I talk about how all the time the structure of the world has changed and we don’t have governance to manage the new structure. I mean, I don’t know how are we going to get to the point where we have enough people to actually manage what’s going on? Well, I think we’re going to have to. What’s the expression that they use about people like alcoholics or drug addicts? They have to hit rock bottom. I think we’ve got to hit rock bottom. We’re not there. Our political class has not had enough pain yet. Our, our working class has not had enough pain yet.
Where as long as, you know, the TV’s on, you got a beer and the sofa’s comfortable, you just sit there and let it happen, you know? Do you think people have to die? I hope not. But when people are going to lose their houses, lose their cars, when their kids don’t have enough food to be fed, these are the things that are inspirational motivators for people. These are the things that really force people up off the sofa and force them into the street and to take more direct action, if you will, but we’re not there yet.
Everybody in this country is too comfortable still and just way too comfortable. It’s getting bad, but we’re still too comfortable. You’re right. And I think that in the past where revolutions or empires have fallen, it’s when the systems collapse to the point where the pain of the average person is too unbearable. Yes, that’s exactly. Look at just what, a week or two ago when the, the snap payments didn’t go out on time. I mean, you look on X and look at all these people who were SNAP beneficiaries who were adjust. Don’t be touching my SNAP benefit.
You know, I’m going there and steal. Touching my stuff. Exactly. And so you look at it, you know, why do we as a country, the largest economy in the world country of 330 million people. Why do we have 42 million people collecting food stamps? I mean, why do we do it? And then you look at that, look at 40% of them are foreigners who, who illegally immigrated in this country or were refugees coming into the country. Why do we have to pay their bills? Why do we as the taxpayers? Why is our government underwriting this insanity? Well, and I think a bigger dependent class that we need.
But I think that when you really look deep into it, I don’t have a problem with someone who really needs to be fed, to be fed. I have a problem with somebody who wants to be fed because it creates more luxury for them. And that if you. We have to go deeper into it. And look, some of the stories I heard about people complaining about even like their health, their health insurance is subsidized, things like that, people with full pensions, two professionals with full pensions who are making decent money have subsidized health care, you know, stuff like that.
And they were very angry about it. It’s, you have to dig deeper and say, wait a minute, when, how far do we go before we say this is too much? People, a quick break to share with you this wonderful product called Masterpiece. It is proven to taking out graphene oxide, aluminums, heavy metals, microplastics. They also are looking at these Mac addresses and there’s more and more research and there’s studies coming out. There’s four documentaries that are being made on their studies about how they’re able to disable Mac addresses that are somehow put into people. This is amazing stuff.
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Well, you know Lyndon Johnson when he started the war on Poverty 1964, 65 and created these welfare programs, you know, these were intended to be a hand up and not a handout. And now here we are, what is it, 40, 60 years later and we’re third and fourth generation a welfare dependency where this is no longer a temporary assistance to get you out of poverty too. So your Kids don’t miss meals while you’re between jobs. This has become a life, this has become a career choice for people and who have willingly gone on. They like their Section 8 apartment, they like their EBT card, SNAP benefits.
You know, they, they get all these things, they may be working side hustles out there that they, they don’t report. They’re gaming the system six ways from Sunday because they can. And that’s why I was really happy to see what Elon Musk had done with Doge early on. But he was too effective on Social Security. I mean, when you find what, 5 million, 6 million people who are over 120 years old, still collecting, he was pretty effective at some of those things. I was pretty happy with what I was seeing. Well, but the thing of it is there’s people out there who are getting paid on a monthly basis and receiving that money now.
They’re not. So, you know, how did that affect them? How is that affecting the greater economy? These are things out there that, that have to be looked at, have to be explored. Because we’re to the point in this country where our are the. We’re not creating value through manufacturing and through and creation of intellectual property and creation of material goods, we’re creating value. We’re not creating value, we’re grifting and scamming is what we’ve turned into. We’ve turned into a really corrupt country. I mean, we’re turning into an India where corruption is the rule of thumb. Well, it’s what pays.
That’s what people get to the point where it’s like, well, I work really hard and this is sad. We have to get out of it. I work really hard. I’ve been born and raised to work really hard and to be proud of what I do. But it doesn’t pay to do that. The only way to pay is to get in there, get in the front lines of getting, being part of the criminal syndicate or getting paid off by the criminal syndicate, because that’s the only way I can afford you. That’s what people have come to the conclusion.
Well, it is, and it’s sad, but it’s true. And so you, you can’t, you know, grift yourself into a vibrant economy. You can only steal what’s available to steal. It’s a house of cars, like I said, it’s another indicator that we’re on the edge of a collapse, that, that we, we are going, this economy is going to tank, it’s going to break. Our government may collapse as a Result of this. Do you think? Go ahead, because. No, no, I was just, I was trying to. Go ahead. No, I was going to say, do you think, you think the government’s going to collapse? Do you think that we’re going to split up like the Soviet Union did? Well, I, I hope not.
I would like to keep the union intact, but, you know, I don’t have much use for the east and west coast because they, you know, they’re very population dense areas with disproportionate political influence and they’re, they’re, they’re essentially blue socialist type people. They, again, they, they don’t create value. But the fundamental problem is that we have too much wealth concentrated in too few hands. And you know, the other thing about money, we’re talking about central banks and things that, things that they monitor is, you know, what is the volume of money out there in circulation and what is the velocity of that money? How rapidly does it change hands? How fast did it move for person A to B to C to D? And those are the two things that are the measure of a healthy economy.
When you’ve got a good volume of money and a good velocity, things are pretty good. It can borderline on a boom. Your economy is pretty healthy. When you don’t have enough volume of money and it’s moving really slow, then you’ve got a real stagnant economy. It’s sort of in the doldrums, it’s sort of in a funk. And it’s not growing, it’s not doing well. What’s the Cannellon effect too? Right? The money’s just not getting to the people. Well, it’s not getting to the people, I guess earlier said it’s more and more wealth and more and more assets are concentrated.
Fewer, fewer hands. And that is a huge problem that we have. I mean, you know, you got Warren Buffett a couple years ago had a article out that I pay less tax percentage wise than my, you know, executive assistant does. And so, you know, when you’ve got these kind of situations, you know, what’s wrong with this picture? Our system of taxation doesn’t work. It doesn’t serve the greater good. And so how do we change these things? How do we make this a system that serves. When I was a candidate for governor, I would give speeches at my, they’d always ask me, why do you want to run for governor? And I said, because I want to do the most good for the most people in the most cost effective manner.
And that’s really what the function of government is we’ve lost that. It seems our politicians only go there to have power, influence, and to get rich as quick as they can. And this goes to all of them. And so it gets back to what I was saying. Well, it does. So how do we fix this? One way is we change how we tax things. So, you know, why don’t we put in a national sales tax, exempt food and medicine from it so it doesn’t discriminate against the poor. But if you want to buy a new car, you got to pay a sales tax on the new car.
You gotta. You want to go out and buy an airplane, an office, building, a house, Anything you buy, put a sales tax on it somehow. But that’s what we have at the state level. You think maybe you get rid of income and you convert it to sales, get rid of the income tax. And so the more money you spend, the more tax you pay. The other effect that’ll do is that will turn us into a nation of stock savers, not a nation of consumers. And our whole economy right now is structured on a consumer economy to where, you know, you’re.
We’ve got money flowing in. You, you buy this trinket, you buy that trinket, you buy another trinket. But we’re. We’re not saving, and we don’t save for the future. So what is our. At this point, with the inflation being what it is, why would you save at all? Because you put 20 years worth of work in to save money, and it’s been inflated away. It buys half of what it did when it was new. So why wouldn’t you buy something when you first earn that dollar instead of saving it? So you can see the complexity of the problems that we have here.
And our economy needs to be restructured. It’s broken. It doesn’t work. Well, I had Alan Walensky on back in the day. He was a tax secretary under Bush, and he said the first Bush. And he. And I got to know him because he lived in the area. And he told me, sarah, they’re not gonna. The tax policy is how. Because they can’t manage the public any other way. So everything gets managed under the tax policy. Every single way that they try to con, you know, get people to behave the way they want, they do it through taxes.
That’s what he was telling me. Why don’t they stop trying to manipulate people’s behavior? I agree. Agree. I’m just telling you what he told me. Let people do what they want. And you know why? What gives Them the right or the authority to want to assume the ability to manage someone else’s affairs. I agree. 100 but I’m just telling you the way they. He told me everybody thought at the time. But that’s. That is. You’ve got a point. That’s how they think. How are we going to control the behavior? We have to tax them this way or that.
We give them this break. That break. Let’s get the sheep to move in this way by doing this. And that’s what they are. Okay, I have one more thing before I let you go in this great mind that I have with me today. If the country splits apart, you were saying, and this first time I’ve ever thought this and I’m, I started thinking about it, it’s because you were saying that wealth is concentrated on the east and west coast in a lot of ways. But we’re seeing a migration out of California. They’re building in some of the, the middle red states are gaining a lot of wealth when it comes to Austin, it comes to the north and South Carolina.
They’re even moving part of the Wall street down to Tennessee, I believe is where it is. Well, Tennessee and Florida is where they’re talking about. But Tennessee’s done really well. Kentucky’s done really well. All of these, what were rather slower economy states have picked up a lot of population and they picked up a lot of wealth with that population. Well, but it kind of seems like they’re almost prepping that if we’re going to split, we’re going to make sure that we have a solid base in these red states and we could really split to a red, blue split kind of situation.
Well, you. We could and it would be temporary and I’ll tell you why. Because the blue states can’t support themselves. They just can’t do it. There’s. They’re. Their policies. Right mindset do they. They cannot support themselves. They’re. They’re not business driven. They don’t create value. But wouldn’t it be good for them for a certain period of time to just. Well, they certainly have a lesson. They have a wake up call. I mean you look at California, you look at New York, you look at how the directions these states are going in. And the thing is, you know, the coastal regions of California control everything.
You know, I mean San Diego, Louisiana, San Francisco, that, that’s where, that’s what controls California. The, the Central Valley, you know, Northern California. You know, all those areas where, where the land mass is, where the productive farmland is. They don’t control the state. You know, the, the, the cities control the state and that’s where the concentration is. So, you know, they’re going to have a real hard time if they would, if the US would break up because they consume more than they pay in tax. A lot of. Do they know that? Do they know? Do they know that? I’m sure, I’m sure they do.
I mean, they know they couldn’t handle it without the other side. Yes, but do you really see there’s two sides anyways? Aren’t we kind of one big messed up place? I mean, a lot of people say there really isn’t two parties, there’s one party and just two. These are just two factions they let out there. But the real controlling part. Powers don’t even think in those terms. No, they, they do not. And you know, it’s. What, what team did you choose? We only have two, you know, so you’re red guys. Exactly. You’re the blue guys. I mean, you know, the old expression is we have a left wing and a right wing, but the, they’re both on the same bird, you know, I mean, it’s kind of like what shape do you want? You know, it’s like I’m, I’m a square, but I only get to pick a diamond or a circle.
You know what I mean? It’s like I don’t want, I don’t fit either of them. Yeah, but you know, it’s like I said, we’re living in very interesting times. I, I hope the country does not break up. I hope it comes to its senses. But we’ve had this communist socialist influence, you know, the long march through the institutions primarily of academia, you know, From K through 12 and then through academia trying to condition the minds of our youth. And they’ve done a very good job. You know, I talk to my nieces, they have done a good job.
And like I’m talking to little socialists here, I’m talking to little Marxists have done a good job. They do, they really, they really think that, you know, we, the disconnect here is that everyone should have equal opportunity, but everyone has to generate their own result. And what the socialists look for, the communists, they want everyone to have the same result. Well, I can’t account for someone has greater ambition that I do, or someone has greater intellectual than I do. How do I get the same result as them? Because they’re smarter and they work harder. Yeah. How am I going to, how am I going to perform as well as that guy? And, and so but, but I’m entitled to get my same amount of, you know, remuneration for what I do as he does.
He’s smarter than me. He outworks me, so why should I be worth the same amount of money as that guy? That’s right. But that’s how they see it. And isn’t that sad? Like the, they’re so good at teaching it. They really did a good job. It’s not what we want them to do a good job at. It’s just like. And I, I’ll tell people this, and they don’t like to hear it, but I’ll tell them. Nancy Pelosi was probably one of the most effective, best speaker of the Houses we’ve ever had in this country. You don’t like her? No, almost.
No. She also, her husband is also the, the best trader we’ve ever seen. But I’m just saying, she. We have not seen a Speaker of the House that has been that effective ever. And we just, it’s kind of like they really good at teaching kids communism. It’s like we don’t want them to be, but it, they were. Well, I, I do have to hand it to Nancy Pelosi, because he was good. Well, the discipline she had over her party, they always marched in lockstep. They always had the same talk. I mean, these Republicans, it’s like, it’s like herding cats, you know, I mean, they’re, they’re all over the place, but they don’t have the discipline on the Republican side that the Democrats have.
On the Democrats. Have you seen anybody as good as her? I mean, being totally honest? I mean, nobody listening to this program probably likes what her policy were or the fact that her husband’s the best trader on. In the world, you know? Well, on the Republican side, the best speaker, the most effective speaker we’ve had in a long time was Newt Gingrich. He was very good. Did some really good work, did some good things. You know, he was really good. But you’re right, Nancy Pelosi as a Speaker of the House, boy, she, she got results for her team.
She got results for her side. She got results. Don’t agree with her at all. But as far as doing her job, she did that job well. She did, and you can’t argue that she didn’t. People don’t like it, but she did. And I think that’s the difference. She’s respected. She’s not liked, but she’s feared is what she is. But we need some people fighting for us that are fighting with the policies that the people of this country need like her, but fighting for the policies that’ll help us. Well, the thing that we need is a third and maybe a fourth party.
You know, I mean we really do, I mean we’re, you know, the, the Europeans with their parliamentary systems, you know, they, they might have, you know, 10, 15, 20 different political parties out there taking all kinds of stances on, you know, one issue. Or, or, or yeah, but you know, but that’s kind of a good thing. But we, with only two parties allowed, they both got to have, they’re both too wobbly. They’re, they stand for nothing because they have to be too big to stand for everything. That’s right. So we, we need to be able to have freedom to have other political parties that could bring different dynamics into, into our political dialogue, into our political debate that we don’t have enough.
You know, you’re the red team or you’re the blue team. Not enough. I mean where there’s things that you might agree with the red team on and other things you might agree with the blue team on but you’re, you’re not supposed to, you break your party, supposed to stay loyal, do all that kind of stuff. Well, there’s cringeworthy, there’s certainly cringe worthy things on both sides. Well, there are. There absolutely are. I mean it’s, it’s, it’s pathetic how it is it. I don’t know how else to explain it, but there’s some pretty cringe worthy things on both sides.
Okay, how do people follow you and get the latest they need to. And I’m going to have you on, on a semi regular basis on our Friday night economic review. I have Andy Schectman coming a lot and I have Martin Armstrong. And then I want to have you come back. I mean I have such amazing people that come to my Friday night. Those are certainly two heavy hitters right there you just named. I mean I’m a big fan of Martin Armstrong. I really am. I. He’s a, he’s a smart guy and you know Andy, I’m still waiting for silver to break out.
So tell Andy. Well, it kind of has though. I mean if you look at, if you would have put money in dollar and dollars over the last year, let’s say you put a million dollars in dollars, it’d be worth about 600,000. You put it, would have put it into gold, It’d be worth 1.4 or 1.5 million. Well, I can’t argue with that. Like I Said, I’m still waiting for it for the. I’m waiting to see the $100 an ounce silver and, you know, maybe $600 an ounce silver. I want that to come, though. I, I bought Silver back in 2010 for 10 bucks an ounce when it took that dip.
But, but, but here, here’s the. Not a lot I wish I would have bought a whole crapload. But we all look at this, you know, gold and silver, we say to ourselves, boy, I want to see gold prices go way up because I’ve got some gold. Well, you really don’t. What it means is that the dollars you’re working for are buying less and less if gold goes higher and higher. So when you go to the grocery store, Instead of spending 100 bucks on groceries, you might have to spend 2 or 300 bucks on groceries. It’s an inflationary hedge.
Be careful what you wish for because. Well, the only thing is, is if silver, because it’s been reclassified as a strategic mineral because of the usage in, you know, high tech and because, because high tech, you know, gold, people are saying, you know, well, gold is used, and it’s because of the corrosion. Corrosion of silver. They couldn’t use it on some of this stuff. But it’s. It is 40. It’s 67%, something like that, more conductive than any than gold. But it, but they’ve solved the, the problems with silver being, you know, corroding with different chemical processes.
So now silver’s at a whole nother level. And I think that we’re going to see silver do other things than just be. For monetary. I mean, it’s. We’re going to see that breakout, I think. Well, there’s, there’s a lot of new technological uses for silver. I mean, they’re used in solar panels, are used in electric cars, Teslas. I mean, there’s a lot used. Used in the military applications for various weapons systems, the like. So, you know, silver is going to be consumed and not just held as a. As a precious metal. It’s going to be a consumer metal.
But, you know, like I said, we’re really on the edge of some changes that we really need to change how this country is. The bottom line is with the fiat currency printing. You know, the house that was a $35,000 house back in 1970, it’s the same stinking house, but now it’s $700,000. You know, it’s. Unless you’re in San Francisco and it’s like 3 million. Well, but you understand what I’m saying no, I do. I’m just saying some of those houses are. So the asset hasn’t changed, but the valuation of it has because the dollar’s not worth.
It doesn’t buy what it used to buy. And that’s a problem. And so we have the supply and demand problem. You know, we always talk about real estate. You want the price of real estate go down, deport 50, 60 billion illegal aliens here who are taking up houses that, that American young people should be buying as their starter homes, get them out of here. I mean Trump talked a good game about mass deportations. I haven’t seen mass deportations. I’ve seen targeted deportations, but not mass. What do you think about the ICE raids? I mean they, we shouldn’t go into that.
We can talk about it another time. Time. But it’s a major political. I don’t, I think half of it is made up. I think they find one. I think it’s on purpose to fuel things. But let’s not talk about it this time. Let me, let me just chime in real quick and then I’ll we get up and go. But why isn’t Trump and if it’s illegal to hire an illegal alien, why isn’t Trump enforcing the, the sanctions provided for the Simpson Miss Only act of 1986 that if you hire three illegal aliens, that’s the threshold or more you’re subject to $3,000 fine per legal alien you hire and six months in jail time.
So why aren’t we going after the Tyson Foods in the Montford? It’s not real. That’s my point. The Marriott Corporation always who hire high large numbers of illegals. Why are we tolerating this when the laws are on the books to be enforced against the employers and if they don’t have jobs here, they’re not going to stay. They won’t be able to afford to stay here. Well, it’s a big part of our economy. It, it’s people, it’s the back deals. Everybody thinks politics happens in the front in public. No. If you ever been even to a, if you were ever on a board of a local sports team even, I mean it doesn’t matter what you’re on.
All the politics happens behind the scenes and people, I always say when people ask me from a big tech sample or high tech, you know what’s really going on for surveillance. Like we don’t really unless you’re in these boardrooms, you don’t know for sure what’s ever really going on. And that’s A true statement with everything. But like I said, we have no problems we can’t solve. We really don’t. We just have to have the political will to do it. And that’s what I see lacking in these politicians. They don’t want to take on the system as, as you called it, because the system is powerful and if you get in its way it will crush you.
You get run over like a freaking bug. But we as the mass of people, there’s 330 million of us plus 55 million illegal aliens. We, we have a significant influence that we could exert if we did so in a coordinated manner. That’s all I’m saying. Well, that’s what happened with Epstein, the Epstein. Not that I believe what’s going to come out is good, but they put so much pressure on them that forced the Congress to put it through. Right. That’s all we have to do is force those things. But where do they follow you? Because it’s a must follow.
Well, the intel drop is where, you know, my few publications are out there. Got a lot of interviews out there. I do a lot for Press TV out of Iran. I’m on Is Vestia out of Russia. I’m on Russia 1 TV on a regular basis and I get all those posted up there as well. So you’re in high demand. Like I said last time, you’re in high demand on worldwide media outlets and it’s pretty impressive what kind of shows that you go on and how high demand you are around the world. So it’s pretty cool to have you on.
Thank you so much for joining the program. Thank you for inviting me. I mean, thank you very much. It is, it really is my honor and privilege to be able to talk to the, the listeners out there in an open, honest manner. And you know, just this is how I see it and it, it really is. I mean not everybody has lost their mind, you know, and so hopefully I’m one of them who has not lost mine. Exactly. Not everybody has lost their mind. That’s a good phrase. Thank, thank you so much, Mike. Thanks Sarah. Sa.
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