Ninety percent of the criticism of the United States GATS comes from only looking at the liability side of the balance sheet. They never look at the asset side of the balance sheet. We're the ones draining the LBMA. Right now, I turned to the ten year US Treasury bond. It is going to close this week under four percent. We're moving into a stagflationary environment. Is if the flation ers it inflation. It's both asset based deflation commodity price inflations.
And I want to get back on the conversation of your plan that you laid down twenty nineteen. That's all coming true. Go ahead and lay out the rest of the plan for us from there. Well, all right, Tom Luongo, what a pleasure to have you back on the show.
You know this has been scheduled for a while, and I.
Would just say that there's probably no one else that's better to talk to today.
On what's going on.
So Tom, let me let me frame this up. And I want to see where you want to take this, because I had like one agenda and now the week we're recording this on actually nine to elevenst for recording this on nine to eleven, twenty twenty five, I feel almost like that moment in nine eleven and twenty twenty five where it's like, Wow, the world just changed. But I just got back from England. They're blowing out over there. The guilt market is blowing out, their bond market. They've
lost control. The BOE keeps cutting rates, and yet the long end of the curve is running away.
The political system.
Is being completely overrun by immigrants. You have it's like a powder keg where they have this like operation raised the colors, so like Englishmen are raising the English flag and it's like racism, which is kind of crazy. On the other side, we have what I thought was really interesting in Nepal. Supposedly they banned social media. They burned the parliament building down. They're like killing the leaders over
there in Nepaul. In France, you have I'm just framing this up for everybody and then we'll see who it's going to jump in. In France we have mccrone's government failed to survive.
There's no confidence vote. I think it's the fourth PM in like twelve months. They've run out.
They have this massive, growing debt crisis, and it's kind of the same thing as everywhere. You know, they wanted to try to bring austerity in. People aren't for that. Now they have this block everything movement left and right seemed to be joining together on that. So that's kind of like what's happening in maybe like the West. And
then and then I just got back from China. I was there as they were preparing for this landmark military parade, and you have the leaders of Russia and North Korea there with g g Is saying that humanity is once again faced with critical choices peace or war, dialogue or confrontation. And then Trump goes on to say, you know, well I lost. I guess we lost Indian and Russia to China. You know, good regards to Kim Jong yu and Vladimir Putin conspiring against the USA.
So this is like this whole world seems like a powder KEG. And then here in the United States we.
Had this brutal, brutal killing that just happens way too often on in North Carolina on public transit. Yep, Irena, a Ukrainian woman who came here seeking safety and unfortunately didn't find it. And then we had Charlie Kirk yesterday.
Yep.
I mean, the world is just a powder cake everywhere, and I'm gonna I'm gonna do one more quote and then I'm gonna see where you want to jump in here, sure, because we mainly talk about finance, but finances related to all of this. And actually there was a there was a video clip I saw of Charlie Kirk saying that his number one focus was deradicalization. And he said, what do you think happens when you own nothing and there's
no hope and your money's losing purchasing power? Mm hm, you turn to radicalization and he said that I that's my single focus. And so we typically talk about money here, but I'm gonna end with one more quote. You retweeted a post from vbl Ghost and you said, if the woke movement is a Marxist revolution, it is in parentheses. And if that's true, then we are in the process of approaching a nineteen sixty seven Shanghai Storm moment when the monster they've created on the left is out.
Of their control needs to be put down.
So these are these are these are political, these are societal, and these are financial revolutions that all seem to converge at the same time.
Yep, yeah, I mean you you're picking out my uh my retweet of my good friend Vince Launchi. You know, gota like that because Vince has been it's interesting like it was. It was funny, Vince actually admitted the other day. And I whenever I do a thing with Vince, but I'll well, I'll read into all together stept you just
talked about in a second. But you know, whenever Vince and I get together to do a podcast together, we chat for forty five minutes before we record, then we record for an hour and a half, and then we chatted forty five minutes afterwards. Yeah, and you know the Vince's cue because yesterday, yesterday day before on Twitter, he finally said, you know, somebody said, dude, it's really interesting that you're starting to talk.
Like this and go right there. And he's like, yeah, well you got that.
You got Tom Wata to think for that, because you know, we usually talk about this stuff behind the scenes, but he draws it out of me.
I can't help it.
I'm like, yeah, I know I do that to people, and I I just remember my heart on my sleep mark.
You know you know how that is?
Okay, So yes, you're not wrong that it feels like the whole world is trying to spin out out of control. And I'll be honest with you, as far as I'm concerned that that's a feature, not a bug of the system that we have that we're watching collapse, and it's
it's collapsing, and they know it's collapsing. So they need to try and create as much chaos as possible because they really do believe that during the chaos, they can set all the people against each other, fighting amongst themselves, black, white, red, blue, you know, Iranian Is, you know, Israeli, I don't care, Brits, Muslims,
it doesn't matter. Set everybody else in motion while the elite move you know, while the elite make movements, scott free in the background, create the next architecture for whatever they're going to put together next, and then you know, send in the then overpay the gendarme for all lack of a better term, to come in and assholes and elbows and take care of and whack everybody and restore order.
Now at the same time, the reason that this is going on, and I firmly believe this, and you have to, and I'm gonna stick to my guns on this, is because Donald Trump has told them no. Now is the United States going to be some bastion of libertarian freedom of No, it's not. But what Donald Trump has told them is absolutely not. We're not following that path. This is our independence from the old colonial powers of Europe.
And if you look at the way he's treated the European leaders when they came to Washington and fortunim the struggle session for peace while they machinate for war. If you watch the way he's struggle sessioned everybody, I mean he invited and or sorry, he entertained here Starmer, the sitting Prime Minister of the United Kingdom, in his castle, Trump's castle in Scotland on that is nominally owned or en ruled by Kir Starmer.
I keep wanting to call him here Salom, because it's true, it's about the same.
I have an even worse term for him than that, but I'll keep it relatively clean today. So and just remember that mister Starmer got off of Trump's US Navy helicopter. He pump wouldn't even allow the RAF to bring him to Scotland, okay, I And then that was right after he brought in Nursul of Bonderland and gave her terms of EU's financial surrender, which is what he forced him to,
which is he forced her to sign. Of course, Bonderland thought, you know, sign whatever it is that she wanted to, because she's thinking to herself, like the rest of these Dabogian catamites, that well, we're gonna force Trump into war, and we're gonna waig him out, and we're just gonna do what we want in two years anyway, it doesn't matter, because we're gonna kill all the support system around him.
They're acting exactly the same way they did last summer before they tried to shoot him, or where they did shoot him and missed, But they were all running around like not a care in the world right last summer and even this summer, watching Starmer on his government collapsing around him, and you know, home secretary resigns over something they bring, they bring somebody else and who's even worse,
right losing in the polls. They don't care about any they don't care about public support, doubling down on every bad policy. This is not accidental. These people aren't incompetent. They're hyper competent at being vandals. If you and I've been saying this for years, as long as you and I have been, you know, chatting on and off for the you know what, three or four years we've known each other.
Yep.
I think it's the biggest, probably be four now, Christ it's been that long. They're vandals, they know exactly what they're doing, and so Vince's tweet that you quoted earlier is exactly correct. Right, They've been building this for years. They are now just in burn it all down mode. And they were in they were in maintain everything mode last summer, in the weeks leading up to Butler Pennsylvania, Right, Biden Trump debate. This is what we're gonna use as
a cat as the inciting incident. They get rid of Biden, they called for snap elections. In France, they call for snap elections, and in the Great in Great Britain they get they put the people in power they want there. They start the process of liquidating book countries, and then we're gonna kill Trump and then we're gonna have Nicki Haley versus Kamala Harris.
That was their plan, and then Trump lived. Yep.
Now they've been in scramble mode ever since then. So the reality of the situation is of course very simple. It's if we can't have it, nobody can. So No, Donald Trump, you're not gonna come and save England and the rest of the Commonwealth. You're not gonna save Canada. We're gonna put our We're gonna put our high priests of Debogeian, ecumenically, environmentalism in charge of Canada, and then we're going to destroy what's the left of Canada because we can see you cutting us off from well, we
cut ourselves off from Russian gas. We can see you cutting us off from Saudi gas and Azari gas in North Africa and everything else. So we cut ourselves off from British gas and British oil off the North Slope. This is why De liz Trust was deposed three years ago. Like they can see what's happening. So Canada is their last refuge. But Canada has always been their refuge. It's always been the antipode to undermine the United States from
the north. As you know, my friend Matt Eric said to me the other day on a podcast we did together, Canada's is the insurrection against the United States from the north that won as opposed to the secession against the
United States from the South that lost. Okay, when you think about the history of the nineteenth century, the whole world's being set on fire on purpose because Donald Trump has made it abundantly clear We're not going to fight a war for Israel in the Middle East, and we're not going to fight a war for the British and
the French in Ukraine to destroy Russia. The problem for Trump is that he also wants to see Israel survive, and so what the British are now doing is allowing is Now they've turned on their their Israeli partners or you know, subsidiary, whatever you want to call them. As far as I'm concerned, they're cutting off Israeli subsidiary. Net Yahoo is going around and liquidating all the assets around the region that are a threat to Israel, because I
think he realized after ten seven. I'm going back now, I reframing in the last couple of years of Netanyaha's behavior. And I feel dirty saying anything positive about that man, because I despise him.
Okay, with the core.
Of my being, I know he's a sinister, ugly man, but and I know that everything after the butt is what's true.
This is what I'm getting at.
That was the past, this is now the present, and the present is that ten seven was a Katari Hamas operation against Israel, probably created and organized by m I six, to radicalize the Israelis and start the conflict and to start the spiral down that we have, and to get the Israelis to go freaking bananas and want to wipe
out every Palestinian on the planet. Of course, the reaction is over the top, of course the reaction is disgusting, But focusing on their reaction is missing the inciting incident and the causes belli and missing the modus operandee of the people that take, as my friend Alyx Craner likes to put it, take the two types. Take the black antswer the red ants, put them in their drummers, shake.
Them up together.
Yeah, okay, And the Israelis are part of that process, okay, And then that's gonna set everything in motion to then set them against Iran. Shake the antjar again. Now it's
against Turkey. Shake the anjar again. But one of the things you can say about the kind of unfocused aggression that we're seeing in recent days from Natan Yahoo was that these are very targeted strikes against other British backed assets like Turkey and the and the radical Islamists that are in charge in Damascus, like the Kataris in Doa Okay, because that's where City of London wants to move to.
Every day we see headlines about inflation and dead and diminishing control over our own money. That's why I always come back to bitcoin, because it's built for generations, it's built for legacy. But protecting your bitcoin legacy the right way it's not always simple. It demands discipline, focus and the right partner. Now, that's why I personally use Unchained Signature.
It's a premium private client service for serious bitcoin holders who want expert guidance, resilient custody, and an enduring partnership. Now Signature, you're paired with your own dedicated account manager, someone who understands your goals helps you every step of the way. You're going to get white glove onboarding, same day emergency support, personalized education, reduced.
Trading fees, and priority access.
To exclusive events and features.
Unchained Collaborative Custody model is designed to provide the same security as the world's biggest bitcoin custodians, but.
For those who prefer to hold their own keys.
Now, I've been using and recommending unchained for years.
I even got my parents to set up with them.
So if you want to get set up, check out unchained signature at unchained dot com, slash mark Moss and as a loyal listener, I got a discount for you. Just use code Moss ten at checkout to get ten percent off.
Your first year. Because your bitcoin isn't just for life, it's for.
So you you can almost see that, like at the last moment, Nat in Yahoo saw that Israel was going to be completely betrayed and said, oh no, we're not going there because like Netan, Yahoo don't like Netanyahu and I don't, but I can understand his mindset if you're willing to like put yourself into his mind for a minute, which is that this guy, at the end of the day,
remember his brother died at Antebbe. As my friend Dexter Lighteweaxer remind me all the time, he's got a certain ethos and that ethos is Israel for better or for worse. Right now, Israel has always been a British construct but you know, the last ten years worth of behavior in relations between Israel, the EU, Britain and the region have been very complicated, right, and there were forces in Israel and the Israeli government system and the Israeli political system.
They're clearly against YAH and they're backed by Europe, all naphtally Bennett. So when you start getting into the things, and when I'm getting on here, so I'm not trying to absolve Israel of anything. Obviously they're committing whatever you want to call it genocide or whatever. I don't care call it what you want, the eradication of the Palestinians in Gaza, Okay, I don't care. And we can have and and and we can all feel horror a shame
at all of it. But when you but you look at the why this is creating up while we're getting
to the powder Keg moment is exactly this. Everybody's being radicalized on some irrational bit of violence that's being paraded in front of us on a day to day basis, whether it is Israel's you know, attacks on the Gosins, whether it's some whether it's that poor girl on the bus uh in Charlotte or Charlie Kirk or this or the insanity that's happening in the in the streets you know, all over England or in Ireland or in you know, in the United States, like it's happening everywhere, and all
of this is a market is all this is policy?
The question is whose policy? Who benefits from this?
So you ask yourself the basic quite best, and who benefits from No, it's the people that who are literally.
In the process of losing all their power.
Because if Donald Trump, Vladimiprut and Ajijin Ping get together and recarve up the world, who does not see at the table it's the same thing I've been saying for four years, and I'm sorry, but that heuristic works better than everybody else. Is heuristic like it's all the Jews, or it's all this or none of that, Like it's
fully explanatory. And for you know, then for people who want to see a better world, you have to understand the game board, understand the players and the motivations so you can see that where we're gonna wind up on the other side because we have to be able to predict their moves. It doesn't matter whether we hate the moves that were that they're making we hate the game that we're playing. Don't hate the play I hate the game.
Yeah, right, So who doesn't have a seat England and the EU?
Yeah, I mean do they have any collateral?
Do they have any energy? Do they have any innovation? Do they have any people? Do they have a birth rate? No, they have nothing.
You know what they have? They have bureaucracy and shame. Yeah, that's what they've got. And violence. Yeah.
Now, obviously this is culminated right now, and you mentioned all these players from Trump and bb et cetera. But a lot of this seems to be decades in the making. So as I kind of started out by saying, you know, we're sort of at this maybe long end of this eighty year credit cycle where now the bond markets across the developed world are all blowing out. I mean, obviously with England, as I said, right, the guilt market's blowing out while the BOE keeps trying the lower rates. We're
seeing this kind of across the board. So I mean, how much of this is just sort of this culmination of this long term destruction of the monetary system versus this game board catalyst of like or maybe they're they're realizing the game is almost up, so now we have to reshuffle the deck real quickly to kind of figure out who gets that seat next.
Well, yeah, that's what they're doing, like and they look the you know, every time the British Empire gets in trouble, they wanted to fault on their debt and sort over again or the or in Europe or whatever. Remember, as Martin, I'm Storing likes to point out all the time, and I've had the great pleasure getting the no marety over the past two months.
So it's been fun.
Bouncing a lot of these ideas off and then actually bouncing on a lot of his ideas back off of him and being which is to say that that what is the America?
What is America's superpower? It's the fact that we've never defaulted on our debt.
Sure, always paid our debts, even if we've gone to inflations and we've you know, paid it. We've never ever default on an acusip. We've always paid our posts, paid our.
We did default on the gold. We did default on paying back the gold in nineteen seventy one.
Well yeah, but but you know, did we or or where the fun or where the freaking French running an operation using our trade deficit and our our tax dollars that were going to France through the Marshall Plan to take all of our freaking gold because the gall hated us more than Matchrone does.
Because that's what they did.
Mark, I'm gonna reframe that whole argument by the Libertarians and who I used to be by saying, oh, by the way, that was our tax money, that was the Marshall Plan that created a trade that could have created a durable trade advantage to a trade positive trade flow towards France. Who then, the gall who hated the United States was then draining our money. Who's then, so we're rebuilding France and he's redeeming his trade sort of plus which we paid for by stealing our gold.
Yeah. No, no, you don't get anymore.
I'm over it, Like I'm over that whole argument, Like, yes, do we need to go back on a gold standardism form or another?
Yes? And are we in the process of doing so? Yes? And you know who's gonna do that, Who's gonna lead that charge?
It ain't the Chinese, it ain't the Russians, it ain't the Indians, it ain't bricks and anybody else, it's us because we're the ones draining in the LBMA right now, We're the ones knocking down city of London. They're the ones that ran the gold scam for fifty years to prop up the quote unquote prop up.
The dollars of the world's reserve currency. And they did it.
It's ninety percent of the of the of the entire gold manipulation system was run out of the LBMA and the COMACS. But it all starts at the LBMA and also there and being there in Zurich.
That's interesting that you say that.
I mean, to the point about the revaluing gold or going back to this gold system. I mean, certainly a lot of people see this. I like to follow Luke Grammin pretty closely, and he's been talking about this for quite a while. And how he says it's really China and the bricks that are starting to kind of course he to push push the price of gold back up.
Of course he does because Lucas never met, Because Lucas never met a talking point about finance that has ever been positive towards the United States.
I've told Luke this on Twitter.
I'm like, dude, come on, well, he has told me in his defense, I mean, he's not here and I don't want to words in his mouth, and he has told me that he sees that there's the US also sees this coming to a head, and if they don't preempt the move by China, then they kind of have that last mover advantage. So you know, potentially he sees a chance or the.
First mover advantage because we're the ones draining the LBMA, We're the ones. I said this four years ago when we started raising interest rates. I said, it's what's going to bake everybody's noodles, that the United States is going to be the one that wants to seize the gold price rise. And what's gonna make everybody's noodle is watching the Fed put bitcoin on their balance sheet.
Well that didn't quite come true, but that the United States, like.
Ice, crypto is a means by which to collateralize their debt.
Yeah, it's coming same thing. Yeah, Luke didn't say that four years ago. I did.
Gluke goes on Tucker Carlson for forty five minutes and does nothing but complain no solutions to the problem. I gave you the broad pamp to the solution, and I hate the bike too, my own horny here, but I'm going to do so. I gave everybody the the ancherse I'm really angry about this this stuff, not because I didn't get the credit.
Put the credit. I care about to fix the problem, and I gave everybody to the roadmap. They all called me crazy. Fine, I don't care about being called crazy. Next lay it about is.
That the fact that like the roadmap is now being laid out in front of us, and people are still arguing like it's twenty nineteen, staring you in the face, that that is not what's happening. Brent Johnson is more correct about all of this in the long run, and we all kind of agreed, Yes, is there a problem in the United States in terms of the physical position, in terms of the debt, in terms of all these things.
Yes, But has anybody looked as.
I as I have at the end of the day, Mark, this is one of the things that really bothers me because and I've said it many times. I don't think I've said it to you personally in the life, because you know, and I haven't talked on this a year, But think about this, I always said, Look, ninety percent of the criticism of the United States gets comes from only looking at the liability side of the balance sheet.
Sure they never look at.
The asset side of the balance sheet. Okay, And the and the only ass and only asked that anybody ever wants to look at is of course the tax flow, because that's the system, right, This system is we issue taxes. We issued debt and pay for them, pay for the interest on the on it with taxes, and that's how we fund the liquidity system. And that's how this that's how the system is supposed to work, as other credit system says running right, Well, that's the British model of
central banking, debt, feudalism, slavery, tariffs. Oh and by the way, and we were operating where everybody else was terriffing us, but we weren't allowed to tariff them back.
Well, well this is not fear because you're got a better economy than us.
Like shut up, loser, Yeah, like I think off, Like I'm serious, Like this is They've all been sitting here like freeom welfare quas for eighty five friggin years complaining about this, and we had the we we built their societies.
But most people have.
No idea that those countries tariff US or why those tariffs were given to them in the first place.
I mean, and some of these terriffs, like the stuff between US and Canada, go back well before World War Two and the Marshall Plan. Right, Okay, So understand that.
Understand that when you start to really think about the balance sheet of the United States, you start thinking about the assets, and you look at the way we've had to deal with environmental regulations and you know, cars and transportation and this and that, and all this managerial bureaucracy.
That we all hate.
What is that that's a means by which to write the assets down behind those regulations to zero, so that you can't bring them to bear and put them against and put them against the liability. So all you're doing is you're saying, well, yeah, I mean, the United States is thirty seven trillion dollars in debt and some number of unfunded liabilities and trillions in debt. But that's only
if you take as good in everything else. The regulations aren't going to change the burden on the middle class, tax burden in the middle class, the regulatory burden on the middle class and all that stuff is not going to change. But now is it happening fast enough for the for the radicals in the audience. Of course not, because the radicals in the audience are not grown ups who wear pants. You know why, because they understand. They
don't understand that they can look at see. Well, Donald Trump, you have he has a majority in the House.
In the Senate, No, he doesn't.
He won the biggest landslide and modern electoral history, but he only won a three seat majority in the House. No, he won a forty seat majority in the House. They stole thirty seven of them. He won a nine seat majority in the Senate and they sold six of them.
Because they were still ballid. They were still ballad harvesting in December. Yeah. Crazy, that's all being rebrune, right.
So he winds up in the same situation he has now, which is his biggest tail risk is a is a Congress that doesn't want to go along with his plans either because they're bought and paid.
For, their corrupt or all of the above.
So until that changes, he can only make certain moves. You know, he can only make certain moves at the edges of the process. Now, take that one step further. He also had to go tap th and verse through the entire process of reasserting the Article two powers of the President of the United States and the Article three powers of the Supreme Court. And you do that by well,
we're gonna do this thing that we know. They're going to issue an injunction against some lower court and then it's gonna roll up to the Supreme Court and the Supreme Court's gonna knock it down. Okay, Well that part of the Article two has been re established. Okay, next thing, next thing, next thing, next thing, next thing. I saw something the other day. I think it was like Trump is won eighteen or nineteen times in the Supreme Court
so far this summer. It was like Amy Coney Barrett finally came out and said, we're not rubber stamping his his agenda. We're just interpreting the Constitution as written. These judges are insane. Okay, So this is the art. This is what Article two means. And all of these lower courts don't really exist if the Congress says they go away tomorrow.
So Congress is Trump's biggest tail risk. They know it. And so that's why. So that's why their whole extend to pretend thing has been running. So what I think is about ready to give way. This fall is going to be once the Supreme Court gets through the last few of these cases that are going to the big ones that are going to re establish that Donald Trump no can actually fire just about everybody under the purview of the executive branch with stroke of the penela of
the land. Okay, same thing for all the money and everything else. And we're nearly there. We're about eighty five percent. There like three or four more cases that need to be settled. I think I believe something like that. And then once that happens done, you're going to watch it occur. I've been speaking to guys over like ONBA you have a couple other departments, and they're all like, oh, yeah, we're just waiting. When you saw when you saw John
Thune the other day finally say hey, we're done. We're we're pushing through all of trump'upport evens it was like forty eight or yeah, I saw that.
I mean, these are all important department heads and people that are necessary to run these agencies and to clean them up. And so when the totality of all that excuse me is to say Trump's writing up the value of these assets that are on the balance sheet. Once that, once that's been done, now let's recalculate what the United States fiscal position is. And if anybody has a question about whether or not they're being successful to write those
assets up in value. I turned to the ten year US Treasury bond.
You're the one who brought it up, Mark, Thank you.
Just had a record a record auction, just had a record oction.
Go look at it like the ten year is going to close today, is going to close this week under four percent.
Yep.
And Powell's probably only got a cut by twenty five do more because of the CPI that came out today. And this started well before Jackson Hole when he changed the monetary policy. He got rid of the two percent inflation mandate, which, by the way, Powell never liked.
Oh by the way, he was a.
Critic of it from the time that Bernaki put it in place when he was a junior member of the FOMC. So it was only the greatest thing that ever that's occurred in the last year other than Trump getting.
Why would he only cut by twenty five though, because I thought, with the record jobs blowout that we just had the revision and the jobs report, the economy looks much worse than it is.
And I thought, he's going to.
I'm not going to complain, and I wanted him to coup by I literally as of this morning, before the CPI report. I have two reasons why I'm now moving back toward twenty five. And it's all because of the last six hours, because we're doing this in the day of.
The CBI came out. And I'll explain why in just a second.
So yesterday I said I was doing my market report for my patrons, which I do on every Wednesday and every Sunday, And on Wednesday morning, I said, okay, well, tomorrow's the CBI report. I've been charting the the monthly close of the price of gasoline futures price of gasoline versus the four month rolling average of the month of over month change in.
The CPI.
So take the last four months of the CPI, roll that up and and chart that against the same closing months reported, you know, the same months closing the.
Price of gasoline. And I ran, you know, the last nine.
Years of that and since COVID, since or really since Powell sort of tightening, we've been in a commodity cost pushing place and environment where the directionally the two move and lockstep. A couple of months here or there where that okay, they weren't quite in lockstep, but for the most part they've been in lockstep directionally. I mean, price of gasoline goes up, the CPI, the four month rolling
average of the CPI goes up. So this month for August, the clos was like it you know, it was down fifteen cents over the year of the over July July I was like two eleven a gallon monthly closing aciline was like one ninety seven. Like my prediction CPI is going to come in at about point one percent, meaning it's gonna roll over, you know, proportionately with the with the.
With the price of gasoline.
Right came up point four. But I did say if it doesn't do that, two things. One, it's either removing into a stagflationary environment or potentially a demand pull environment or the price of electricity from all these data centers that are coming online to run AIS are now the commodity or now the component of commodity cost push inflation right, because gasoline prices year over year were down six point six percent, but electricity prices year over Europe thirteen percent.
Piped natural gas was up nine percent. That was like nine That was like most of the CPI rise, whereas gasoline. So if it was just the gasoline story like it has been up for the last four years, yeah, I would have been correct. So because the CPI is blowing out and the price of gasoline is falling or at least is flat at around two dollars a gallon, that tells you that we're maybe if we get two or three months worth of data, that's that confirms this trend.
It's not a trend yet, just a data point that we're in a.
Different environment and we have much less likelation than we have forty five as opposed to fifty. Because when you said we're gonna play the they're just still gonna play the inflation game.
When you say we're in a much different environment, does that mean that we actually have less environment than what the CBI tells us or we have more.
What I mean is that we're moving into a different environment from the purpose, from the standpoint of the credit and and and in place meaning what I mean is I think the most likely thing. But again I can I can make two hypotheses here that we're moving into
what I would call it a stackflationary define environment. Now I define staculation differently than the rest of the world does, because well, the Phillips curve was always bullshit, which is how we defined the cyclation of the seventies, high unemployment with high inflation, because that the Canesian model said that can't possibly be true because the Phillips curve blah blah blah blah. I'm like, the Phillips curve is always nonsense.
We're in a different environment today. I've always said, whenever we get to a moment like this is like post two thousand and eight, right, I remember, like Petership versus Harry Dent debates from that back time.
Is if deflation or is it inflation? I'm like, it's both.
It's a red asset based deflation. It's commodity it's commodity price inflation. The two are going to meet one. You've got You've got, you know, a reorganization of the economy out of the hyper financialized into the real economy. As you do that, you're now going to put upward pressure on commodity prices. Going to supply chains take time to build out. Therefore, you know, the commodity cycles were always out of phase with the price.
Therefore, you should start to see both of these.
You should start to see kind of a reversion, a mean reversion, and that period is best then, and because of that, you're going to have high unemployment. You might have rising inflation, price inflation overall for the things that matter to people. People will complain about food inflation and housing inflation and whatnot. But you know, but home prices may fall, you know what I mean?
Or yeah, you know, I see on trueflation today they're calling inflation at two percent.
And it was that's right over it seven a couple of weeks ago.
I watched trueflation every once in a while, I check in with it so at interesting moments in time. So I think it's a good model, but I don't think it's perfect. But I think it's a better model than the CPI certainly.
Yeah, okay, So I want to take you back, and I want to get back on the conversation of your plan that you laid down twenty nineteen. That's all coming true. So if I'm recapping this plan. Part of this is all based off of we've only heard about the liabilities of the US government. We haven't heard about the asset base.
So the first time I had heard that was.
Howard Lutnik who came on the Trump administration on All In podcasts, and he was talking about how, you know, through his fund, he's you know, taken over all these different businesses, and when he comes and looks at these businesses, he looks at all the different assets and the balance sheets, and he's like, we all hear about the debt of the country, but we never once have heard about the asset base.
And so I thought that was very interesting.
And so what you're saying is since twenty nineteen, you've been sort of looking at this. Now this is coming true. I heard Howard Lutnik talk about it. You're talking about ways that they could start to revalue some of these assets and come up with whatever that valuation is. Sure, and so anyway, go ahead and lay out the rest of the plan for us from there, Well.
Yeah, let's let's just start out there. Like you this is when you start to and this is when you start to open up federal lands for physical export exploitations when you used to rebuild the infrastructure of the country so that it's you improve the comparative our productive capacity of.
Of individual workers.
You also have to recapitalize the middle class, and you've got to do that by opening up the small and medium banking regime. And that's where I think stable the stable coin bills come in, and and the but the big one is that you've got to open up the cash flow of the middle class. And how you do that is you get you've got to get Fanning and Freddy A out of conservatorship.
You've got to get them moving again.
The libertarians are going to hate this, but unfortunately this is the truth. The thirty year more fixed rate mortgage
is one of the greatest inventions in American history. The government back thirty year fixed rate mortgage is one of the great inventions of human history because what it did was it opened up the productive capacity of the middle class to get a fixed costs and however much their mortgage was going to be, and then use that to then build businesses that created a higher return on investment over the course of the life and the loan, and
thereby they were paying them. They were paying back their mortgage with appreciating money because they were making five percent of their business, was growing five percent of the year, and they were paying three three and a half percent on their mortgages. Now, we could argue about the suppression of interest rates and risks and everything else, but the truth of the matter is is that Fanny and Freddie were an unbelievably successful project until the weirdness of the
early two thousands. And I've gotten to the point now where I honestly believe.
That that was an operation.
That the entire financial crisis of the year of two thousand and eight was designed from the ground up to destroy the thirty year mortgage and strip people of the ability to be able to buy a home, and then create a massive inflation that raised the price of a home to way beyond what anybody could afford. And you know, the terms were so onerous, twenty five thirty percent down, massive changes to underwriting rules.
I'm fighting.
I've been fighting with Wells Fargo for a couple of months now, practically as a small business owner, because I don't because I'm not on a W two and so underwriting, you know, literally wants to sniff up my ass all the way back to you know, the time I was in my mom's womb and order to get a fucking mortgage, and I'm like, no, you know, I mean and I mean everything, and like it's I'm like, no, I make this much money, it's more than enough. I'm not asking
for a lot. Give me the freaking note, and they won't do it. And some of that is because of the way Sarbine's Oxley was written and the way God Frank was written. It was all written with the purpose of making it nearly impossible for small business owners to get mortgages in a reasonable time frame if they had any kind of complications in their in their income stream, whatsoever. And so we overcorrect it to the point of creating
this nightmare. And so the only way people and then let's not even get into the fact that you know, now we're talking about loan to value ratios and you know how much money they have to put down and blah blah blah blah blah. When you start to really look at like all of this stuff, like who the hell's got twenty percent to put.
Down on a house?
If if I'm not mistaken, I believe it was Bill Clinton. Maybe it was under Reagan, but I think it was under Bill Clinton that they also really wanted to kind of push for this home ownership, which sort of led to that that housing bubble.
But part of it was because they felt.
Like Americans should own property and there should be that sort of pride of ownership there.
I mean, pride of ownership is I mean ownership, property ownership is how you build generational wealth and expid about property taxes. So that's another thing that's that's nass in here that we finally get rid of property taxes in the the thousand year old feudalism brought in by William the Conqueror to England and to the West, Like.
This is evil.
We're still we're still like we should not be paying rent to the government when we own our own right like that. I mean, like, I mean, you know, I'm still libertarian enough to believe that taxes are theft. I'm not like you're not gonna lie idea, but like property taxes are still the original Senate government, Like you should not you should not have to pay rent to the government.
That's feudalism, folks, Yeah, like it is. It's not paying for the fucking school system. It's feudalism.
Yeah, it takes me back to the video piece I was talking from Charlie Kirk where he said that happy people, grateful people, don't get behind Vladimir Lenin or Chavez or Castro. People that own nothing, that feel like their property is diminishing. They don't own property or their dollars diminishing value, they start to look for alternatives. And so that was Charlie Kirk saying that, and so kind of to your point, it's like giving them home, so they have that ownership
and then the other side is taking that away. I want to continue with this plan that you've laid out because I have a couple questions about that, and so I want to talk about Trump's ability to get this done. You were talking about, you know, some of these things you do with the Supreme Court. But before I ask you that question again, this week China had this landmark military parade. A lot of quotes and stuff were coming
out of that. One thing I saw in Political Magazine is said that the Pentagon's plan is now changed and now they're prioritizing homeland over the China threat.
It's deeper than that. So is this the game board I believe fundamentally that the name change around the Department of Defense to the Department of War is in order to literally use the legalese to say, the Department of Defense, which no longer exists, no longer has to operate under the twenty eighteen National Defense Authorization Act, which was re uped in twenty twenty two. The name, the name change
is important. It's like, you know, it's like all the contracts that were written against the golf of all the treaties, is that they were issued against the Gulf of Mexico.
Well we changed the name of the Gulf of America, so you know what I mean. Like you two can play the legalese game, folks.
And you know, and I hadn't thought about that this
has like Stephen Miller written all over it, folks. Like I'm that serious when I say this is like Miller is like clear of the clearly the guy who's in charge of the chart over Trump Central, which is opposing the Gan chart over at Evil Corpse Central, right the you know Microsoft project files of all this stuff that you know, while they advanced their plans, the Trump is advancing is and you know, they're playing their games and every and you know, sometimes they win one and sometimes
Trump wins one.
This is the way.
It's the way war works, folks. And if it's you're uncomfortable with it, oh well, like you know, it's a foxhole. Like you can dig it deeper if you want, but eventually you're gonna have to fight.
What does the name change mean?
So the main so the name change and it gives them the state they really they don't have to follow the NDAA and the NDA said the Department Offense must prepare to fight a two front war against Russian and China.
That's not what we're doing anymore. Now.
We are prioritizing walking down the Western hemisphere.
Now. I said back in November when.
Marco Rubio was nominated to be Secretary of State, everybody's like, ahy that Neo Conree's and Aralis first, they're not and they focus on all that stuff and they forget the phone party. Marco is really well liked around Central and South America.
And that was.
Quite an open political geopolitical statement to the Chinese and the Russians that we are getting prepared to extricate ourselves from the British mackinderesque tall poppy syndrome. Problem of keeping all of of of keeping all of a a mess so that nobody can rise and retrenching and refocusing our efforts to creating fortress North and you know, the western hemisphere. It's like, this is our area. Y'all have your area. I don't care what and we don't care what happens
to Europe. We want out of NATO, we want out of the un Like, but we can't say any of that. He can't do that directly while you've got these old guards, when you've got Mitchell McConnell's and Lisa Murkowski's and the Senate, they will, they will get together and they will impeach him. They but they can't impeach him if he doesn't state the state that that's what he's gonna do. You know what I mean, Like you have to play the game of what's said or what's being done and what's said.
That's politics. And there's no way that Chuck Shuwery company can impeach Trump over what not wanting to go to war with Ukraine, with Russia over Ukraine, not wanting to you know, make the American people unsafe and the targets of the potential in Russian nuclear weapon or seventy. Really you want to impeach him for that? How about No, it's what we voted for. They keep asking us over and over and over again, did you vote for this? I'm like, yeah, kinda, no, actually I voted really voted
for that. And so that's the game. And when we when you understand the game. And I thought people understood politics better than this, but apparently not, Like I mean, I don't know, I'm not This isn't this isn't bogus to you, Mark. This is like in general, I watch people on a day to day basis. I watch people who are supposed to be astute political commentators not get this basic concept. Like we used to have reasonable political
debate in this country. I used to watch cross Talk with them, and I used to watch the maclauchlin group with Buchanan and the rest.
Of them, and yeah, you know, half of them were morons. So especially that Elean or whatever the hell her name was, not Elbert.
She was terrible, but at the very least they knew shit. Yeah right, she could hold her own against Buchanan even if she was hot. She was hateful, but you know, watching the Maconaqulin group today, We've got nothing.
We've got a bunch of you know, talking monkeys.
You know, so we get back if if we get back to the plan, we're talking about revaluing the US's assets, which would I guess potentially then lead to revaluing the gold talking about changing the structure of the game board of the U S sort of retrenching back to the west, the western hemisphere. You talked about Trump's sort of narrow
margin of victory in the House, in the Senate. A lot of that could be maybe resolved through this new Senate census that's being pushed through and sort of redistish.
Stream all those lines.
But I guess my question is, I mean, that's a pretty tall order to get done in the next three years.
It is.
It's a lot to get done. Because you think not everything is going to get done in next three years. No, you've got to get through the midterms. You get through the midterms with a durable with a real durable majority in the House of the Senate, and a lot a lot of stuff can get done in the next two years.
You set what Trump can do before he leaves is to set the foundation in place bestin is clearly setting the foundation in place to overhaul bring the Treasury more central to the monetary transmission system, sidelining the FED to some extent. I think that I think he and Powell are both agreed in in the long run that the FED has to be returned to its pre Banking Act of nineteen thirty five routes right, or the very least, If not to that, then to a version of the FED that is not involved.
It only safeguards the treasury.
Market from the international person effective, but the domestic treasury market is under the purview of the Treasury and how the and how that demand is maintained. And then the Fed's job is to backstop the commercial paper market domestically, backstop the international value of the dollar internationally, and walk away from all of its other responsibilities.
That would be a perfectly.
Reasonable, you know, situation for the Federal Reserve for the next transition period, for the next decade or generation or whatever after that. You and I can have a conversation. But if I'm not dead of a heart attack, so you know, because I don't think that's I don't know how long much longer I'm going, we'll say I mean, I just don't. I don't see myself living the past seventy five, seventy seven years old.
I just don't. So I think it's but that's the timeline.
So what you're doing now is you're setting up the durable political advantage through two things. You redistrict like states left and right. The Democrats lose, you know, lose people left and right. This is I think, what's I think if Charlie Kerr and Arena Zarutzka, I think that's how you pronounce your name. If they have any staying power as symbols, it will be for everybody to stand up and go, Okay, that's enough, no more. We have work
to do and it's time to move on. You know, yesterday when I was again when I was doing the market report yesterday, right before I sat down the hit record, so I was popping through my Slack server and somebody had posted this AI. I was clearly an AI picture of a mural of of Arena up on a tenement wall, and you know, imagine like Baltimore or whatever.
Yep. And I took one look at.
That, and it was in service of the tweet that went out by some guys that I'm gonna raise I want to raise five hundred thousand dollars to do block art block grants to paint murals of Irena all over the United States.
And then Elon Musk comes in and says, I pledge a million dollars. Yeah, I saw that, and I went, that's how you handle this?
Oh yeah, Oh no, No, you absolutely beat the living shit out of anybody that is going to treat another woman like anywhere close to what that animal treat how that animal treated her like. We have to step up as men and say we're willing to protect our women and we're not, and we're no longer going to indulge in the erasure of women and the erasure of men from our society by blending them into some you know, non binary milange of purple hairs and tattoos. Fuck off, No,
we're not doing that. That is not the world that any of us want to live in. And what that means is it's like it's like that, I don't know, when's the last time you saw you watch shindlows List.
You remember in the end of shindoors List, No tell.
Me during the know as we get to the left after the movie is over, and we move forward into the future, and we move into the present, and all the surviving Shindler Jews come walking over and and they just still in them, you know, paying their respects it as a grave. There's one one old woman every freaking time I watch this, and I haven't watched it in years, because that movie like destroys me.
She always walks by.
I can just watch that scene over and over again, and she just walks by and she pats the grave a couple of times, and and it breaks me up every time. That's kind of what we have to do and acknowledge and use this. Like those murals of Arena, if they do get painted around the country.
Gonna get some of the're gonna getainted over.
But if we use those and we protect those and everybody and every day we take the we take the opportunity to say to ourselves, we walk by them, those who walk by them, take a moment, nod, say silent prayer or whatever you know that's between you and what for God.
You may or may not worship Patta reverently once.
Or twice, and they go, enough is enough, and you move and you're not gonna let that happen again.
If we all do that, this fixes itself in the long run. Yep.
It's we have to be both firm, be willing to put violence on the table, use the threat of violence, and to say that's it no more. Everybody's talking about this freaking communist Mandami in New York. Me. If I was in New York, I'd be voting for Curtis Sliwa of the Guardian Angels. I remember when that guy, I remember when we both had hair. That guy has done yeomen's work for New York for forty years. So you know, from my perspective, that's kind of our mindset. It's where
it has to be. We have to be both. We have to be resolute, willing to forgive if necessary, and willing to beat people and put them now like a rabbit dog if they're not.
That's where we need to be. We need to be prepared to do all of those things at the same time and do it this passionately.
And then if it's Charlie, and if it's an image of Charlie Kirk, or if then it was Irena or whoever it is mine, whatever gets you, whatever motivates you to get up.
For the game that day. I'm good.
I'm good with it because they use George Floyd to burn our cities to the freaking ground and make us pay.
For it as a humiliation ritual. Never forgive that ever. Ever.
Now let's move forward. So you know the assets are right here, Mark, it's how we use those assets. But we got to get all of the bullshit out of our way so that we could actually go out there and and create.
And they don't want us to create.
They want us weak, they want us to bite it, they want us afraid, they want us angry at some other guy. I'm not angry at black people. I ain't angry at no. I know exactly who I'm angry at. Yeah, and they woke up a lot of people yesterday.
Yeah they did. Yeah they did.
And they're all going one direction. Yep, they're all going one direction. And so I think we're gonna wrap it up with that.
Tom.
That was a great way to sort of put a pin in it. He laid out the case. You gave us the catalyst, and uh yeah, hopefully this momentum will keep going. Tom, You're a wealth of information. Like I said when we first started, as fate would have it. You're probably the perfect person to talk to today. Gold Goats and Guns is your podcast. Everyone should go download that. You have the newsletter. We're gonna link to that down below. Anything else people should be paying attention.
To, just my twitter feed. We're are the worst version of me will show up every day. I promise, because I'm in charge of it. T all right, Tom, We're gonna test the TfL seventeen twenty eight on Twitter.
Yeah, TfL. All right, We'll link to that down the show notes down below. Thanks so much, Tom, Thank you, Mark.
Have a great day. It was It was good catching up with you man.