Michael Saylor's 11% Yield Is a Ponzi Scheme — Here's the Proof

[SPEAKER_01]: Make no friends in the pits and you take no prisoners. [SPEAKER_01]: One minute, you're up half a minute and soybeans in the next pool. [SPEAKER_01]: Your kids don't go to college and they've registered mentally. [SPEAKER_01]: Are you with me? [SPEAKER_02]: The revolutions start now, staunch. [SPEAKER_00]: We have to pass the bills so that you can find out what is in it. [SPEAKER_02]: Cardinals were cheating back off. [SPEAKER_02]: You are about to enter the Peter ship show.

[SPEAKER_02]: If we lose freedom here, there's no place to escape to. [SPEAKER_02]: This is the last stand on Earth. [SPEAKER_02]: The Peter ship shall be solved. [SPEAKER_02]: I don't know when they decided that they wanted to make a virtue out of selfishness. [SPEAKER_02]: You're money. [SPEAKER_02]: You're storing this. [SPEAKER_02]: You're freedom. [SPEAKER_02]: The Peter ship shall.

[SPEAKER_01]: This is Peter Schiff, and I'm doing this podcast live from Puerto Rico. [SPEAKER_01]: It is Friday, just after in a clock eight, 15 here in the East Coast. [SPEAKER_01]: You know, I'm not doing my shift-gold Friday market rap today, but this is going to satisfy that.

[SPEAKER_01]: So if you're looking for the shift goal Friday market wrap, I will wrap up the week in precious metals on this podcast as I talk about other topics, you know, I think the big topic continues to be the war.

[SPEAKER_01]: And, you know, we're almost two months in to the war now. [SPEAKER_01]: It started just at the end of February and we're pretty close to the end of April. [SPEAKER_01]: I mean, not quite. [SPEAKER_01]: We still got maybe another week or so, but, you know, it'll be two months into the war. [SPEAKER_01]: But when the war started, the timer's not working. [SPEAKER_01]: When the war started, people thought it would be over very quickly.

[SPEAKER_01]: you know that they were talking like you know two weeks to stop the spread right we were supposed to crush them really fast and you know they were gonna succumb you know we have this huge war machine and uh... and so it would be over very quickly and if you remember on the podcast i was casting a lot of doubt on this quick end of the war scenario [SPEAKER_01]: But now the markets are starting to factor in that the war is kind of coming to an end.

[SPEAKER_01]: I mean, the doubted make a new high today, but the S&P and the Nasdech are at new record highs. [SPEAKER_01]: So clearly, there's not a lot of concern. [SPEAKER_01]: in a amongst stock investors. [SPEAKER_01]: I mean, oil prices were down a bit on the week, but not that much. [SPEAKER_01]: I mean, oil is still $94.40. [SPEAKER_01]: Something like that is about where it went off.

[SPEAKER_01]: Obviously, prices could be a lot higher, but [SPEAKER_01]: this is still a much higher price. [SPEAKER_01]: We were, you know, we were 50% above where the price was before the war started. [SPEAKER_01]: But we're really no closer to winning this war now than we were two months ago. [SPEAKER_01]: And we have a lot fewer missiles and bombs left. [SPEAKER_01]: I mean, we've blown through a tremendous percent of our arsenal.

[SPEAKER_01]: And now we're in a position that, I mean, if we keep doing this, I mean, we're going to run out. [SPEAKER_01]: And at this point, what are we going to be blowing up? [SPEAKER_01]: I mean, are we going to be blowing up stuff that's less valuable than the bombs that we're dropping or the missiles that we're launching?

[SPEAKER_01]: And it's going to cost us a fortune to, you know, reproduce these, you know, and obviously the companies that manufacture them are very excited about getting these orders. [SPEAKER_01]: But still, it takes a lot of resources that to be devoted to making these are the meantime that Chinese, [SPEAKER_01]: are probably very happy to see us, you know, depleting our arsenal.

[SPEAKER_01]: Well, well, there's is, you know, just fully, fully stock, maybe the Russians are happy about it too. [SPEAKER_01]: But it seems like the war is kind of side tracking now because of the extension of the ceasefire. [SPEAKER_01]: And again, part of the ceasefire is we're running out of stuff to fire, right? [SPEAKER_01]: So that probably serves our interest.

[SPEAKER_01]: But Trump is now casting the war as an economic war. [SPEAKER_01]: That we're just going to wait it out because we've got this blockade now. [SPEAKER_01]: Remember, it used to be about opening the straight of her moves. [SPEAKER_01]: Like we were trying to threaten Iran. [SPEAKER_01]: In fact, Trump was going to level the entire country. [SPEAKER_01]: The civilization was going to be destroyed, never to return. [SPEAKER_01]: It was going to rain down hell.

[SPEAKER_01]: about blown up the power plants, blowing up the bridges, if they did not open the straight of her moves. [SPEAKER_01]: Where have we gone from there? [SPEAKER_01]: We're now, you won't open up the straight of her moves, fine. [SPEAKER_01]: We're going to close it. [SPEAKER_01]: And that's where we are. [SPEAKER_01]: So we've now closed what we were threatening to wipe Iranian civilization off the face of the earth.

[SPEAKER_01]: If they didn't open it, we've now closed it on our own. [SPEAKER_01]: And what we're saying is, okay, I ran. [SPEAKER_01]: Let's see how long you can live without your oil revenue because before you are only letting certain ships go through. [SPEAKER_01]: Now we're gonna make sure that no ships go through. [SPEAKER_01]: Now, how is this a win? [SPEAKER_01]: because what we've done is ensured that the price of oil goes even higher, right?

[SPEAKER_01]: We're shooting ourselves if the goal was to open the straight of him, bruise. [SPEAKER_01]: And now we're the ones that are closing it. [SPEAKER_01]: Maybe people have lost the irony here of where we are. [SPEAKER_01]: But Trump, again, is underestimating. [SPEAKER_01]: I think the Iranians, because obviously he underestimated their tolerance for being bombed and for threats.

[SPEAKER_01]: Threatening to wipe them out, threatening to annihilate them, they didn't back down, they're still there. [SPEAKER_01]: And winning an economic war, I think is going to be harder [SPEAKER_01]: I don't think the Iranians are going to blink. [SPEAKER_01]: I mean, if they didn't blink at a threat of complete annihilation, not just economically, but like they were going to be blown off the face of the earth.

[SPEAKER_01]: And they stood strong, they'll find a way around the blockade of the straight. [SPEAKER_01]: And of course, even if this causes some economic problems in Iran, [SPEAKER_01]: The regime that's in power is going to survive it, in fact, they're going to have the support of the Iranian people. [SPEAKER_01]: The Iranian people will be willing to suck it up out of their own national pride or patriotism.

[SPEAKER_01]: They'll stick together and they've been through tough economic times and sanctions. [SPEAKER_01]: But I think they're morale. [SPEAKER_01]: You know, they're standing up to, you know, the evil empire, right? [SPEAKER_01]: And we are the aggressors in this war, right? [SPEAKER_01]: It's pretty easy to see that. [SPEAKER_01]: So I don't think they're going to give up as easy as Donald Trump thinks they will. [SPEAKER_01]: And I think they have an easier time politically.

[SPEAKER_01]: And I was much as Donald Trump wants to talk about regime change. [SPEAKER_01]: The regime has not changed. [SPEAKER_01]: It is the exact same regime. [SPEAKER_01]: Now, yes, we killed some of the people, so there's new people, but there are new people from the same regime. [SPEAKER_01]: So rearranging the deck chairs, whatever, I mean, it's the same. [SPEAKER_01]: They're just in a different position, although I don't know that they're sinking like the titanic.

[SPEAKER_01]: They seem to be floating. [SPEAKER_01]: But we haven't changed the regime. [SPEAKER_01]: And for all we know, the regime that's there now

[SPEAKER_01]: I think that we are more vulnerable politically, because the longer we keep the straight shut, the higher the price of oil is going to go. [SPEAKER_01]: Maybe it didn't make a big move this week. [SPEAKER_01]: But we're going to head much higher than $100 a barrel if this continues. [SPEAKER_01]: And of course, if we're not going to bomb them anymore, if we keep extending the ceasefire, [SPEAKER_01]: It's going to lengthen the war because why, you know, why, why give in, right?

[SPEAKER_01]: The political pressure is going to be in the US. [SPEAKER_01]: Where the ones Trump will have to blink because at some point if oil prices keep rising, the stock market is going to roll over. [SPEAKER_01]: You know, we had a big up week this week. [SPEAKER_01]: You know, the Dow's not back up of 50,000, I don't think. [SPEAKER_01]: But, you know, the Dow was only up about half a percent, S&P up, seven tenths.

[SPEAKER_01]: But the Nasdaq was way up on the week, 1.7 percent, almost all those gains today led by Intel, which was up almost 24 percent. [SPEAKER_01]: Of course, the government now has a stake in Intel. [SPEAKER_01]: So I guess, you know, the taxpayers on paper anyway have got a gain.

[SPEAKER_01]: uh... but the market is very vulnerable to some bad news or reality but the economy is also very weak it weakened considerably in the fourth corner i believe we're going to get the bad news on q one inflation is getting worse uh... and it's going to continue to get worse and we're about to enter [SPEAKER_01]: So what, June, July, August, September, October, November, six months from the mid-terms, elections are coming up in the U.S., they're not coming up at Iran.

[SPEAKER_01]: So who's going to feel the pressure? [SPEAKER_01]: Trump does not want to lose the Senate. [SPEAKER_01]: I mean, I pretty much think that they've resigned themselves to the fact they're going to lose the House. [SPEAKER_01]: And Trump does not want to lose the Senate. [SPEAKER_01]: Because if he loses the House and the Senate, he's going to spend two years trying to deal with it in impeachment.

[SPEAKER_01]: And there could be some other investigations that are going to be led by Congress into who knows what. [SPEAKER_01]: So Trump wants to keep the Senate. [SPEAKER_01]: And so I'm sure the Republicans, they want to be the majority. [SPEAKER_01]: So as the economy weakens, because of high gas prices, maybe even slip-sitter recession, who is going to blink? [SPEAKER_01]: Trump is going to have to do something.

[SPEAKER_01]: Now, it's possible that they just say, well, we'll just have some big tax cuts, some stimulus checks are going to be going out to help people afford these high gas prices, let's stimulate the economy, but that's just going to cause all prices to go up. [SPEAKER_01]: And I think the longer that Trump waits. [SPEAKER_01]: to maybe find a graceful way out of this war, a way to lose it, yet still claim he won it, which I'm sure Trump could do.

[SPEAKER_01]: I mean, Trump could pull that off. [SPEAKER_01]: That's very Trumpian, right? [SPEAKER_01]: Doesn't matter whether you win or lose. [SPEAKER_01]: Just tell everybody, it's the greatest win in the history of the world. [SPEAKER_01]: Then just say it every time you have a chance to talk. [SPEAKER_01]: All right, talk about how this is a win, that nothing we've ever seen.

[SPEAKER_01]: But the longer he waits to claim mission accomplished, even if nothing of the mission is accomplished, the harder it's going to be, and the more these problems are going to get ingrained in the economy. [SPEAKER_01]: So again, I think we lose the economic war. [SPEAKER_01]: Trump does the thing so but then that was the same thing they thought about the bombs and the missiles that that was going to work. [SPEAKER_01]: it didn't work.

[SPEAKER_01]: And the economic war will be even less successful. [SPEAKER_01]: But the bigger casualties will be here. [SPEAKER_01]: And we've got other economic problems. [SPEAKER_01]: High oil prices, high food prices, because that's also affected the fertilizer that we're blockading. [SPEAKER_01]: They're just another problem. [SPEAKER_01]: To layer on top of the problems that we already had.

[SPEAKER_01]: So to use Donald Trump's [SPEAKER_01]: expression, we don't have the cards, especially if there's a dollar dump, because that's the real Achilles heel is the dollar going down and taking the bond market with it and driving long-term rates up, because we don't have that emergency break the glass plan that

[SPEAKER_01]: Speaking about in the effects of inflation pushing stuff up, you know, this is just part of it. [SPEAKER_01]: But I read a story today that the U.S. post office is now putting on an 8% search charge on to packages, the stamp price is going up. [SPEAKER_01]: I already mentioned that on another podcast I forget by how much it was a pretty good 5 6% jump.

[SPEAKER_01]: You know, we're going to be in a dollar pretty soon for a posted stamp, but it used to [SPEAKER_01]: You know, postcards were a penny. [SPEAKER_01]: I forget. [SPEAKER_01]: I don't even know what the postcards cost now. [SPEAKER_01]: I haven't mailed one and I know it's when. [SPEAKER_01]: Um, but, you know, Mrs. going to be par for the course with these, with these, uh, with these hikes.

[SPEAKER_01]: But, um, the big story I think of the day is that Trump, the justice department, and obviously, you know, they're doing what Trump wants [SPEAKER_01]: They dropped the criminal investigation against their own pal. [SPEAKER_01]: Now what was he being investigated for?

[SPEAKER_01]: It was, you know, the fraud that went into the construction of the, or remodeling of the Federal Reserve building, which, you know, the Federal Reserve always had the most expensive building in Washington, even before they decided to remodel it. [SPEAKER_01]: And remember, on my, my last podcast, I really went into the Federal Reserve and a lot of people appreciate the history of the Federal Reserve. [SPEAKER_01]: another point about the Federal Reserve.

[SPEAKER_01]: Because the Federal Reserve was created as a private banking syndicate, it generates a profit like any other private enterprise. [SPEAKER_01]: And it pays the tax to the U.S. government. [SPEAKER_01]: Now, it doesn't pay the normal tax that everybody else pays. [SPEAKER_01]: where the, you know, and there's shareholders, there are banks that are the shareholders of the Federal Reserve.

[SPEAKER_01]: But the Federal Reserve is allowed to make a particular return on its total capital investment. [SPEAKER_01]: And I forget what that return is off the top of my head. [SPEAKER_01]: You know, I don't know everything. [SPEAKER_01]: I don't know. [SPEAKER_01]: I don't know. [SPEAKER_01]: It's 5% or I forget. [SPEAKER_01]: You somebody could look it up. [SPEAKER_01]: Um, but they're allowed to make a fixed return on their capital.

[SPEAKER_01]: And everything above that return, they pay to the US government. [SPEAKER_01]: So they are effectively in a 100% tax bracket. [SPEAKER_01]: Now, think about what that means, right? [SPEAKER_01]: If you're in a 100% tax bracket, what would you do?

[SPEAKER_01]: And if you could write off everything, because the Fed [SPEAKER_01]: Well, if you could write off the expenditure and you're in the 100% tax bracket, just spend everything, because whatever you don't spend, just go into the government. [SPEAKER_01]: So if I'm a business and I'm in a 100% bracket, I'm gonna remodel my office.

[SPEAKER_01]: It's gonna be as fancy as I can possibly make it. [SPEAKER_01]: I don't even care what the cost is, because I don't pay the cost. [SPEAKER_01]: The cost is paid by the government, [SPEAKER_01]: Fixing up my office, and I'm in the 100% tax bracket. [SPEAKER_01]: Well, I would have sent the whole million to the US government.

[SPEAKER_01]: So I might as well spend in fixing up my office because at least I got a nice office rather than sending the government a big check for the million dollars. [SPEAKER_01]: So that's how the Federal Reserve operates. [SPEAKER_01]: Those are the incentives. [SPEAKER_01]: So whatever they had a fixed up building, it was like, well, just spend whatever the hell we need. [SPEAKER_01]: Because if we don't spend it, we're just sending it to the US government.

[SPEAKER_01]: which, of course, will waste it. [SPEAKER_01]: So the feds, we might as well waste it, right? [SPEAKER_01]: Let's waste our money instead of giving it to the U.S. government to waste it. [SPEAKER_01]: But that's why the U.S. government was getting all this money from the Fed every year. [SPEAKER_01]: They were collecting taxes. [SPEAKER_01]: But, you know, the Fed would reduce its income with high expenses. [SPEAKER_01]: That's why everything costs so much.

[SPEAKER_01]: It was a perverse incentive. [SPEAKER_01]: Either spend it or send it to the government. [SPEAKER_01]: And so this particular project, though, was so ridiculously expensive that Trump was able to politicize it or use it to put the pressure on Powell. [SPEAKER_01]: Because remember, normally, and we got Kevin Warsh, who's about to step in, right? [SPEAKER_01]: Next month, he would become the next FOMC, our chairman, chairman of the Fed.

[SPEAKER_01]: And the tradition is the guy that's there, bows out and not only does he bow out, well he has to bow out of the chairmanship, but he leaves the fed all together. [SPEAKER_01]: And what Powell was threatening to do was stay on.

[SPEAKER_01]: Even if they confirmed Walsh to be the new fed chair, he was gonna stick out his term for a couple of years because he wanted to stay there [SPEAKER_01]: although they can always resume it just because they ended it doesn't mean they can't restart it. [SPEAKER_01]: But I guess this was an olive branch to try to get Powell to just go gracefully into the night.

[SPEAKER_01]: So not only would Trump get to put Walsh in, but he gets to put somebody else in to take Powell's place, right? [SPEAKER_01]: Really start stacking up the Federal Reserve. [SPEAKER_01]: Now, [SPEAKER_01]: Again, a lot of people are talking about how, you know, this guy, Wallace wants to be even more independent than Powell. [SPEAKER_01]: He's going to be more hawkish than Powell. [SPEAKER_01]: Well, then why the hell's Trump nominating him? [SPEAKER_01]: Why is he so excited?

[SPEAKER_01]: because his criticism of Powell is that he's too hawkish. [SPEAKER_01]: So you're going to put somebody even more hawkish than the guy you're criticizing for being too hawkish. [SPEAKER_01]: Even though, that's not the right word. [SPEAKER_01]: I would say, less rubbish than, you know, and so why are you going to put in a guy who's not as rubbish as the guy that you want to get rid of, because he's not dove is enough, right? [SPEAKER_01]: That's really what's going on.

[SPEAKER_01]: Um, but what's interesting, too, about dropping the criminal charges, the justice department, normally they don't do that. [SPEAKER_01]: And I know this from personal experience when they started investigating me. [SPEAKER_01]: a criminal grand jury, right? [SPEAKER_01]: So the Department of Justice convenes a criminal grand jury to investigate me and not just me, the president of the bank, some of the other bank employees, you know, every we're all being investigated criminally.

[SPEAKER_01]: That investigation started in January of 2020. [SPEAKER_01]: So over six years ago. [SPEAKER_01]: and the investigation of the bank actually started a couple years before that in the Netherlands, but it took a while before it moved to the United States.

[SPEAKER_01]: Now to this day nobody has come out from the U.S. government says yeah we we close the investigation of leadership I mean it's pretty obvious to me that they they closed it years ago but they don't come out say that [SPEAKER_01]: They just stop. [SPEAKER_01]: They don't issue you like, hey, we investigated you, but you're looking good. [SPEAKER_01]: So, no. [SPEAKER_01]: Now, normally, if the process works the way it's supposed to, nobody even knows you're being investigated.

[SPEAKER_01]: They investigate you in secret, confidentially. [SPEAKER_01]: And so, if no one knows that you've been investigated, then it makes no sense to tell everybody that an investigation, nobody knew was underway, [SPEAKER_01]: And personally, I would rather the public never think I was investigated.

[SPEAKER_01]: And that would be, you know, most people, because if an investigation is opened up and the government announces, hey, we're investigating Peter's shift for child molestation, let's say. [SPEAKER_01]: Even if they come back a couple years later and say, okay, we've cleared him, we didn't find any evidence that he molested any children.

[SPEAKER_01]: First of all, there's been a lot of damage to my reputation that's been done between the time they announced they were investigating me and the time they announced that they didn't find any evidence. [SPEAKER_01]: But there's always going to be people who, once you say he's being investigated, they'll like, oh. [SPEAKER_01]: He chipped just in a good job of hiding the evidence, or maybe he bribed the victims to keep cry, right?

[SPEAKER_01]: I mean, once this suspicion is out there, it's like, hey, why did they investigate him? [SPEAKER_01]: I mean, there must have been somebody tip of them off, there must have been some smoke there to suspect that there was fire.

[SPEAKER_01]: So normally you don't even want to say that there's an investigation, because the mere hint of an investigation is going to taint the person. [SPEAKER_01]: But in my case, right? [SPEAKER_01]: they leaked the investigation to the media. [SPEAKER_01]: And then the media said that there was an investigation. [SPEAKER_01]: The New York Times said there was an investigation.

[SPEAKER_01]: Australia's 60 minutes said I was being investigated, which was immediately a problem, because all of the counterparties that I was doing business with at my bank, [SPEAKER_01]: They just stopped doing business with me. [SPEAKER_01]: Not because I was guilty, but because I was being investigated and they didn't want to associate with somebody under investigation. [SPEAKER_01]: They didn't wait around to find out if I was innocent or guilty.

[SPEAKER_01]: They were already going to be guilty by association. [SPEAKER_01]: And again, all these banks have their own KYC.

[SPEAKER_01]: requirements where they've got to look at all their customers and look for red flags well what's a big red flag a government investigation for money laundering and tax evasion you don't get any bigger and better than that how can anybody ignore that right you have your anti-money laundering program and one of your customers is now being actively investigated by the US government for money laundering and tax evasion [SPEAKER_01]: That guy's out of you.

[SPEAKER_01]: I can't do business with that guy. [SPEAKER_01]: I can't wait to find out if he's innocent or guilty, right? [SPEAKER_01]: But anyway, so, but in my case, the government didn't officially admit that they were investigating me, but they leaked it to reporters who sold it. [SPEAKER_01]: But it was in June,

[SPEAKER_01]: uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh

[SPEAKER_01]: at the press conference when someone said, well, is Peter Schiff under investigation two? [SPEAKER_01]: They said, well, we're not at liberty to say who's under investigation and who's not under investigation. [SPEAKER_01]: Well, that's bullshit because they just said the bank was under investigation. [SPEAKER_01]: So if they're not a liberty to say who's under investigation, [SPEAKER_01]: why the bank, but of course, they also mentioned at the bank that I was the only shareholder.

[SPEAKER_01]: So if my bank is under investigation for money-later tax evasion, how can I not be? [SPEAKER_01]: What? [SPEAKER_01]: My bank is doing it all by itself, right? [SPEAKER_01]: I got the 100% owner of the bank. [SPEAKER_01]: is not being investigated, but the bank itself is. [SPEAKER_01]: I mean, how could my bank be laundry money and evading tax? [SPEAKER_01]: It'll be on autopilot, like it just decided.

[SPEAKER_01]: Or maybe just my employees said, you know, let's just do this money or laundry. [SPEAKER_01]: Let's make sure the owner of the bank doesn't know what's going on, but we're just gonna laundry all this money and stuff on her. [SPEAKER_01]: I mean, it doesn't even make any sense.

[SPEAKER_01]: So clearly, and even if that was the case, even if the bank [SPEAKER_01]: was laundering money behind my back, even if some employees decided to set up a tax of Asian money laundering deal, then I didn't know about. [SPEAKER_01]: They would still investigate me, they would know that, yet they're not going to investigate the bank without investigating me.

[SPEAKER_01]: That's why when they first gave me the subpoenas, [SPEAKER_01]: They told me that I wasn't being investigated, they lied to me. [SPEAKER_01]: They said they were investigating customers of my bank. [SPEAKER_01]: Because had they told me they were actually investigating my bank? [SPEAKER_01]: Well, then I would have known that they were investigating me. [SPEAKER_01]: So they lied to me. [SPEAKER_01]: See, you're not allowed to lie to the government.

[SPEAKER_01]: But the government's allowed to lie to you, which I think is wrong. [SPEAKER_01]: The government shouldn't be allowed to lie to you, but they lied to the public all the time. [SPEAKER_01]: But in any event, so they announced that I was under investigation. [SPEAKER_01]: They've never come out and said that I'm not, which I would appreciate at this point, because it was out in the open that I was being investigated.

[SPEAKER_01]: Why don't they come out and say we close that investigation? [SPEAKER_01]: Because, you know, otherwise people can think, well, the reason that you haven't been indicted is they're still investigating you. [SPEAKER_01]: It's been six years. [SPEAKER_01]: The bank that I owned that I supposedly used to longer money has been closed for almost four years.

[SPEAKER_01]: So if they haven't found anything, because obviously I couldn't have done anything in the last four years, because I don't have the bank anymore. [SPEAKER_01]: So if they haven't found the evidence of money-launcher or tax evasion, yeah, obviously they moved on to something else, but they won't admit that. [SPEAKER_01]: They won't give me a clean bill of health, because that's the way they work. [SPEAKER_01]: They just kind of disappear.

[SPEAKER_01]: leave the impression out there that there's some ongoing investigation so my name never really gets cleared because people just say well the wheels of justice turn slowly and you know they're just building their case eventually they'll charge you right which is all a bunch of PS.

[SPEAKER_01]: Anyway we got right now I said at the beginning of the podcast course that I was going to talk about gold silver so I can include the shift gold Friday market wrap in today's podcast [SPEAKER_01]: So, you know, I guess with all of the enthusiasm for risk assets, the big jump in text stocks. [SPEAKER_01]: Some of the luster came off the precious metals also had a move up in Bitcoin this week although we've pulled back off the highs Bitcoin Almost got to 80,000.

[SPEAKER_01]: I don't think it actually hit 80,000. [SPEAKER_01]: Let me take a look at at this chart I don't know if I saw it above 80,000, but I know I saw it at 79 and change But if I could look at a chart I'll know if it if it actually got above there.

[SPEAKER_01]: Let me see no 79,000 [SPEAKER_01]: uh... like three hundred and change so now we're about seventy seven four but we're still up about three percent on the week so money coming into in in a bit coin uh... and in the text stocks uh... as that uh... said a doctor stocks have really been on fire

[SPEAKER_01]: Money's been moving in there so I think that you know is kind of taking some of the interest away from the metals in this week and they were down silver was down four and a half percent on the week or five five point four percent excuse me. [SPEAKER_01]: So gold closed about four thousand seven hundred and eight and silver closed at seventy five dollars and fifty six cents. [SPEAKER_01]: But again these are still great prices.

[SPEAKER_01]: This is all a consolidation of the breakout [SPEAKER_01]: a year ago, it was 3,000. [SPEAKER_01]: So this is a big move. [SPEAKER_01]: Two years ago, it was 2,000, right? [SPEAKER_01]: So 4700 and silver, even last year was still trading around 30 bucks before it really took off. [SPEAKER_01]: Yes, it's off the high of 120, but it quite rubble to get there. [SPEAKER_01]: So we're just consolidating. [SPEAKER_01]: This is noise.

[SPEAKER_01]: I think we're getting ready for the big move up. [SPEAKER_01]: And again, [SPEAKER_01]: The shift gold app is now available at the app store. [SPEAKER_01]: You can download it. [SPEAKER_01]: And now you can just buy golden silver right off your app on your phone. [SPEAKER_01]: The T-Gold app is coming.

[SPEAKER_01]: Don't have it yet, but it's going to come where you can do the T-Gold online, too, and that's going to be ideal because eventually you'll be able to send and receive T-Gold to other T-Gold customers from your phone and use it to earn and pay and stuff like that. [SPEAKER_01]: And then eventually with draw a token, tokenized gold, that's kind of where the T comes from in T-Gold, although right now it's more about trade because you could trade your gold using T-Gold.

[SPEAKER_01]: GDX down 4% GDXJ down 5% and quarter percent of the week. [SPEAKER_01]: But look at what happened today with Newmont mining. [SPEAKER_01]: Newmont mining was up 8.7% today. [SPEAKER_01]: It closed up 6.5% on the week. [SPEAKER_01]: In a week where the GDX was down 4%. [SPEAKER_01]: And Newmont is one of the biggest positions in that GDX. [SPEAKER_01]: and let me go over what happened with Newmont.

[SPEAKER_01]: because this is very important, and I own a lot of new months, personally, I have a big position in new months. [SPEAKER_01]: I've known, look, I've owned it for a long time, and a lot of my new month, I got just because new month bought companies that I owned, and they bought it with stock. [SPEAKER_01]: So I actually bought some new month over the years, because I've been buying new month for over 20 years, right? [SPEAKER_01]: And I have never sold it.

[SPEAKER_01]: So you can imagine, right? [SPEAKER_01]: I got a lot of it. [SPEAKER_01]: And I got, you know, other stocks. [SPEAKER_01]: And we've owned it in our strategies, you know, we've owned it in our, our mutual funds in our separately managed accounts. [SPEAKER_01]: Um, but Numa came out with its earnings and this is an idea of what is coming for gold stocks because they, they beat the earnings significantly, but for the first quarter, Numa's revenues

[SPEAKER_01]: that they're revives are seven point three billion dollars in revenue. [SPEAKER_01]: Their earnings per share rose a hundred and thirty two percent they're earning two dollars and ninety cents on the quarter right so what is that two ninety times four times four that's eleven dollars and and six cents [SPEAKER_01]: And how much is Newmont stock? [SPEAKER_01]: Let me see, if it's $11 over $11 in earnings, and Newmont is 120, it's about 10 times earnings, right?

[SPEAKER_01]: 10 times earnings. [SPEAKER_01]: What is the US stock market trading at? [SPEAKER_01]: I mean, more than double that about it, you know, the S&P. [SPEAKER_01]: You've got like a 50% discount to the S&P. [SPEAKER_01]: Is the S&P growing earnings like that or are there earnings up a hundred and thirty-two percent? [SPEAKER_01]: Think about the margins on this company now. [SPEAKER_01]: They're all in sustaining costs to mine gold.

[SPEAKER_01]: Are now $1,000 and $29 an ounce. [SPEAKER_01]: That's their cost. [SPEAKER_01]: The product that they are selling cost them $1,000 in $29 to make. [SPEAKER_01]: Their average sale price for the quarter was $4,900. [SPEAKER_01]: So basically, five X margins, they're cost is 20% of their sale price. [SPEAKER_01]: Can you think of any business that has a margin that high? [SPEAKER_01]: Where they market up five times, it cost them 20 cents and they sell it for a dollar.

[SPEAKER_01]: This is a phenomenal business and business is just going to get better. [SPEAKER_01]: because the demand for gold is going to keep rising as the demand for dollars keeps falling. [SPEAKER_01]: More central banks are going to buy gold. [SPEAKER_01]: The ones that are already buying it are going to buy more. [SPEAKER_01]: The ones that haven't been buying it are going to start. [SPEAKER_01]: Yes, there have been some banks.

[SPEAKER_01]: Some countries have had a sell some gold recently. [SPEAKER_01]: Of course, that's what it's there for. [SPEAKER_01]: It's a rainy day fund. [SPEAKER_01]: It's a reserve. [SPEAKER_01]: You get into trouble. [SPEAKER_01]: Right, oil prices shoot up. [SPEAKER_01]: You've got a problem. [SPEAKER_01]: You need some liquidity. [SPEAKER_01]: Yes, sell some gold. [SPEAKER_01]: That's why it's there.

[SPEAKER_01]: And the reason you could sell some gold is there's plenty of buyers who want it, right? [SPEAKER_01]: And so the price is going to keep rising. [SPEAKER_01]: This is a phenomenal business. [SPEAKER_01]: In fact, not only do they, you know, they have their dividend, but they stepped up their share buy back. [SPEAKER_01]: They're going to be buying back 2.4 billion, or that's how much they bought back.

[SPEAKER_01]: They purchased 2.4 billion in shares since their last earnings release. [SPEAKER_01]: But they're stepping up.

[SPEAKER_01]: uh... the stock buyback so not only are investors buying new month but new month is buying new month right so uh... this is very good news the markets are kind of ignoring this right now but i also mentioned that there's been some acquisitions recently some of the smaller stocks that we've owned uh... every single been bought by bigger companies eight m bought one of our stocks uh... a week ago

[SPEAKER_01]: And this really good news going on in the mining sector, although not all mining stocks got good news, you know, this a sponsor of my podcast, the recent, my first gold company sponsor, right? [SPEAKER_01]: I guess it was bad timing, although I don't actually look at it as bad timing, because I just started talking about the company, so most people probably haven't bought it yet. [SPEAKER_01]: but West Red Lake mines dropped today, 17 and a half percent down to 84 cents.

[SPEAKER_01]: It's almost back down to where I bought it. [SPEAKER_01]: I bought it for lower than this, but the 52 E.C. [SPEAKER_01]: is a $1.49. [SPEAKER_01]: So this is a nice pullback. [SPEAKER_01]: It went down because they had a guide a little lower, but they're just ramping up their production. [SPEAKER_01]: This is an early stage company that's just transitioned from exploration and development to production.

[SPEAKER_01]: This is where the company has been de-risk significantly from when it started, and it's in the transition phase to becoming a much more valuable producing company. [SPEAKER_01]: Obviously during that stage, you know, there's going to be some bumps.

[SPEAKER_01]: But I think these are opportunities to buy these pullbacks, and in fact, I'm probably [SPEAKER_01]: gold stock positions that I have over the years I've accumulated a lot of my stock on big pullbacks I wait for that when there's bad news [SPEAKER_01]: I buy into it because I know how mining works. [SPEAKER_01]: You get bad news sometimes you get good news. [SPEAKER_01]: And other investors are very fickle. [SPEAKER_01]: They're very short-term focus. [SPEAKER_01]: They're momentum.

[SPEAKER_01]: They get a little bit of a bad news. [SPEAKER_01]: In fact, what am I favorite bad news sell off the buy-in is something that slows down production, something that delays production. [SPEAKER_01]: There was an accident at the mine. [SPEAKER_01]: They have to close it for six months. [SPEAKER_01]: Or something happens to push back something.

[SPEAKER_01]: And the market takes. [SPEAKER_01]: because what that means is they're not going to sell the gold now, they're going to sell that gold later because the gold's still in the ground. [SPEAKER_01]: They're just digging it out later. [SPEAKER_01]: And the reason I like digging it out later is because I know that when they dig it out later they will get more money for it when they sell it. [SPEAKER_01]: So I don't care. [SPEAKER_01]: I love those opportunities to buy.

[SPEAKER_01]: I do the same thing with tobacco stocks. [SPEAKER_01]: Whenever there's bad news, somebody's suing somebody, the FDA comes out, surgeon general sends something, right? [SPEAKER_01]: The stocks tank, you know, Philip Morris International, British tobacco, just buy. [SPEAKER_01]: You know, I mean, you're gonna, it's gonna come back. [SPEAKER_01]: And in the meantime, you get great dividends.

[SPEAKER_01]: There's some of the best dividend payers out there, because people don't stop smoking. [SPEAKER_01]: Right? [SPEAKER_01]: I mean, they know it causes cancer and they smoke anyway, right? [SPEAKER_01]: So they're stuck, right? [SPEAKER_01]: If you know something causes cancer and you do it anyway, that's a good customer. [SPEAKER_01]: Right? [SPEAKER_01]: That customer's sticking around. [SPEAKER_01]: So they're good businesses.

[SPEAKER_01]: I mean, we own some of these stocks, too. [SPEAKER_01]: Something, same thing happens to oil companies. [SPEAKER_01]: Sometimes there's bad news, stocks go down. [SPEAKER_01]: I love buying good companies on bad news. [SPEAKER_01]: That's how you get a break, right? [SPEAKER_01]: So all of a sudden, people are scared. [SPEAKER_01]: They're selling. [SPEAKER_01]: So I think that's what's happening with rest, West, red, lake.

[SPEAKER_01]: I don't know when they have another commercial going, but they trade in Toronto. [SPEAKER_01]: But I don't want to give out the WRLG Vancouver is the symbol.

[SPEAKER_01]: I always buy it with limits though. [SPEAKER_01]: All these stocks I buy with limits, you know? [SPEAKER_01]: And sometimes I put them below the market. [SPEAKER_01]: I like to do that, but you know, the way I look at it, I've got a much bigger position in Newman than I do in a stock like West Red Lake mining because it's significantly less [SPEAKER_01]: low over overtime, whereas in West Africa it could lose money. [SPEAKER_01]: But on the other hand, the upside is far greater.

[SPEAKER_01]: Now, you say, well, why, if the upside is so much greater in West Red Lake, why do I have a bigger position in Newmont, and that's because there's less downside. [SPEAKER_01]: See, I don't want to lose a lot of money. [SPEAKER_01]: So I'll have a smaller position in a stock that can go way up, but I'll have a bigger position in a stock that's less likely to go way down.

[SPEAKER_01]: That's, you know, [SPEAKER_01]: And of course, everyone's so well, it's like shit, why didn't I have more money in that? [SPEAKER_01]: You know, I have one stock that I own that I got almost 100 times my money in. [SPEAKER_01]: And I keep saying, why didn't I have more money in that one? [SPEAKER_01]: Right? [SPEAKER_01]: I made a small investment. [SPEAKER_01]: Now it's not a small investment.

[SPEAKER_01]: Something goes up 100x, you know, even if you put a little bit of money in, it becomes a big investment. [SPEAKER_01]: But when I made the investment, [SPEAKER_01]: It wasn't that much now.

[SPEAKER_01]: It's not a mining stock and said it got it's an AI stock although when I bought it I didn't even know what AI was and needed anybody else because I've owned a damn thing for 10-20 years But it didn't really start moving up big until I don't know four or five years ago and then it got you know got caught I'm not telling other people to buy because it's got up so much [SPEAKER_01]: Um, but for all I know to keep going up because I am to sold it, right?

[SPEAKER_01]: I don't want to get off this train, but we'll see, you know, and every time, you know, it's been pretty volatile, but, uh, West Red Lake, um, yeah, it's got a lot more risk, but it's not a lot of upside.

[SPEAKER_01]: You put less money into it. [SPEAKER_01]: And I own a lot of companies like this, right? [SPEAKER_01]: So I spread my chips around on these higher risk companies.

[SPEAKER_01]: Um, but I have much bigger positions in the visual positions in companies like Newman and Frank Onivada and Wheaton, Wheaton precious metals and our Nego Eagle and and and Barric right I know those I have very big positions because I'm not I'm not worried about losing money there I have I have no fear at all I just want to get out of the dollar.

[SPEAKER_01]: I want to I want to solid stock but again most people did best Way to diversify just by my goal fund then you get everything [SPEAKER_01]: You know, simple. [SPEAKER_01]: Easy peasy. [SPEAKER_01]: You know, you buy the European gold fund, go get the perspective. [SPEAKER_01]: Yes, there's risk there. [SPEAKER_01]: But we diversify a lot of the companies, specific risk away.

[SPEAKER_01]: In fact, pretty much all the company's specific risk is diversified out when you've got a big pool. [SPEAKER_01]: But what we don't do is just buy an index.

[SPEAKER_01]: Because I have confidence that Adrian Day, who manages my gold fund, [SPEAKER_01]: that trusting his judgment, who've been doing this for 40 years, I'd rather have him just by the good stocks, the stocks he thinks are good, and ignore the ones that he thinks are bad than just buy everything, because everything's not good, there's some bad stuff in there. [SPEAKER_01]: Now, most people aren't smart enough to know the difference, so they just buy the index.

[SPEAKER_01]: Adrian is smart enough, that's why that's why I hired the guy. [SPEAKER_01]: because I know he's smart enough. [SPEAKER_01]: And the whole idea about this efficient market, they say, oh well, it's no point in trying to beat the market because it's efficient. [SPEAKER_01]: It's not efficient. [SPEAKER_01]: The markets always reflect a perspective at a particular point in time, a consensus. [SPEAKER_01]: And the consensus is often wrong.

[SPEAKER_01]: And so yes, the market is efficient at pricing stuff. [SPEAKER_01]: But based on a lot of bad information, if a lot of people think something is valuable and they want to buy it, then the market's going to price it higher, but they could all be wrong. [SPEAKER_01]: And I like to bet against the consensus most of the time. [SPEAKER_01]: You know, right now there's a consensus, I wanted to get more into this. [SPEAKER_01]: I did a whole space is on it.

[SPEAKER_01]: You know, on strategy, one of the reasons that Bitcoin popped up last week was because Michael Sailer was able to spend another two and a half billion buying it because the unloaded so many shares of his Ponzi scheme known as stretch.

[SPEAKER_01]: And you know, I talked about it. [SPEAKER_01]: I did a special X, you can go to my, you know, X account and go look at, I did it, you know, was it two nights ago or one night ago, I forget, I just did it. [SPEAKER_01]: But I challenged people to prove to me that stretch was not a Ponzi. [SPEAKER_01]: I mean, the only reason it's not a Ponzi, technically, is because if you're running a Ponzi scheme, you'd never tell people it's a Ponzi scheme.

[SPEAKER_01]: They think it's legitimate investment. [SPEAKER_01]: Now normally, the only sign of a Ponzi scheme is she that's too good to be true. [SPEAKER_01]: And it usually is when something seems to good to be true is because it's not true, right? [SPEAKER_01]: But the only reason that stretch is not a Ponzi scheme is because they tell you it's a Ponzi scheme.

[SPEAKER_01]: Now they don't say it's a Ponzi scheme, but they describe to you how it's financed, and that's exactly how a Ponzi scheme is financed. [SPEAKER_01]: The way it's financed is we pay you a yield, but we don't earn the money to pay it to you. [SPEAKER_01]: We get it from new investors who we sell the same security to. [SPEAKER_01]: And how do we get money from those new guys? [SPEAKER_01]: Well, then we find another guy to give us money, to give it to them and to give it to you.

[SPEAKER_01]: And we keep on doing it until we run out of fools. [SPEAKER_01]: And then we just stop. [SPEAKER_01]: Strategy is actually telling you this. [SPEAKER_01]: If you pay attention, if you read the fine print, which most mom and pops don't do, they just buy it because there's a picture of a beautiful girl, [SPEAKER_01]: the sippin' a, you know, my tie, poolside, how she's retired and living off her stretch because she put all of her savings, right?

[SPEAKER_01]: This is what this AI gal is saying. [SPEAKER_01]: I put all of my savings into stretch. [SPEAKER_01]: Now, if somebody puts all of their savings, if you're running a commercial, showing some, it says, I put all my savings, all of it. [SPEAKER_01]: That implies there's not a lot of risk there. [SPEAKER_01]: You don't roll the dice with your retirement money.

[SPEAKER_01]: You don't put all your retirement savings into one thing. [SPEAKER_01]: Unless that one thing is really safe. [SPEAKER_01]: And so what sailor is trying to imply with his ad is this is a safe 11% yield that you can put all of your retirement money. [SPEAKER_01]: And now, I mean, if I ran something like that, the SEC would be all over me. [SPEAKER_01]: Finn would be all over me. [SPEAKER_01]: I don't know how. [SPEAKER_01]: Sailor gets away with this.

[SPEAKER_01]: In fact, I think I do know how. [SPEAKER_01]: It's hands off at the Trump SEC because they don't want to stop what Sailor is doing because he is probably single-handedly popping up the Bitcoin market. [SPEAKER_01]: And they don't want to do anything to stop that because the Bitcoin guys control that presidency. [SPEAKER_01]: They're all over it. [SPEAKER_01]: So Sailor's got a pass. [SPEAKER_01]: to commit this kind of fraud and try to con people in the blindness.

[SPEAKER_01]: Now, somebody will say, oh, it's not a Ponzi scheme because, you know, legally, he doesn't have to pay. [SPEAKER_01]: He could just stop. [SPEAKER_01]: Of course, he could just stop. [SPEAKER_01]: It's the same thing with any Ponzi scheme. [SPEAKER_01]: You could always stop paying. [SPEAKER_01]: Um, but here, he's legally can stop paying. [SPEAKER_01]: That's why, you know, when, when strategy talks about, um, [SPEAKER_01]: what he says about it depends on his audience.

[SPEAKER_01]: So if he's talking to investors who would be buying stretch, this is the greatest invention ever. [SPEAKER_01]: You're getting 11% if said we've de-risked it. [SPEAKER_01]: We've taken all the volatility out. [SPEAKER_01]: This is a brand new game. [SPEAKER_01]: It's gonna suck up all the capital out of the bond market, out of the preferred market. [SPEAKER_01]: Everybody's gonna buy this because it's the best yield you can find, right?

[SPEAKER_01]: Talks about how safe it is and how great it is. [SPEAKER_01]: And then when he talks to [SPEAKER_01]: strategy shareholders. [SPEAKER_01]: Oh, yeah, these things are great. [SPEAKER_01]: We don't really have to pay anybody anything. [SPEAKER_01]: We can, we can, we can never call it. [SPEAKER_01]: They can never force us into bankruptcy because we don't actually have to pay them anything. [SPEAKER_01]: We can stop paying whatever we want.

[SPEAKER_01]: So we tell us the, the equity investors, you know, how crappy they are and tells the stretch investors, how great it is. [SPEAKER_01]: And it's, it's, it's the same thing. [SPEAKER_01]: But he is right, strategy doesn't have to [SPEAKER_01]: They have to pay, isn't bankruptcy. [SPEAKER_01]: So if strategy goes bankrupt and you're holding the preferred, you've got a residual claim that's superior to the common on the estate of strategy.

[SPEAKER_01]: But in the meantime, they can stop paying the dividends. [SPEAKER_01]: You don't get a nickel. [SPEAKER_01]: And the only thing you could do is sell your shares. [SPEAKER_01]: But what's the music stops? [SPEAKER_01]: Once the Ponzi collapses, and there's no more yield. [SPEAKER_01]: What's it worth? [SPEAKER_01]: But [SPEAKER_01]: Sailor is incentivized to keep this thing going because this is the only thing that's providing him with money now.

[SPEAKER_01]: He used to be able to buy Bitcoin by selling strategy to premium, but that game is over. [SPEAKER_01]: So now we had to invent this con and now people are dumb enough to give him money for this 11% yield. [SPEAKER_01]: There are actually institutions that are buying it. [SPEAKER_01]: These guys probably know it's a Ponzi, but they don't even care because they figured they're smart enough to get out before the music stops.

[SPEAKER_01]: with an 11% but you know the fact that the SEC allows us to happen why I've said this I've done episodes before get rid of the SEC I mean I'm being audited by the SEC right now they're watching my podcast in fact I know I'm gonna have to make some changes to my podcast because they're giving me some shit you know I it's not finner this time this the SEC who's auditing me right now in fact I'm being audited by the IRS and the SEC at the same time yeah yeah I'm still

[SPEAKER_01]: uh... and i don't know if it's a coincidence that i'm being audited by two governments agencies at the same time uh... that's the first time that that that's happened uh... but there's sleep at the switch there at the SEC guys you know while you're auditing me you know complaining about my podcast why don't you look at the strategy adds for stretch right can play you know that that's the fraud right i i i i i not not what's going on [SPEAKER_01]: over here.

[SPEAKER_01]: So a couple of things I wanted to point out, I saw for the first time, ads from the mass tort real estate guys. [SPEAKER_01]: I mean, lawyers. [SPEAKER_01]: And I got a lot of, you know, mass tort lawyers live in my community here. [SPEAKER_01]: But I saw my first ad for tariff refunds. [SPEAKER_01]: It's now, you know, people [SPEAKER_01]: If you directly paid the tariff, it doesn't apply if you indirectly paid it.

[SPEAKER_01]: So if I bought something and the price was higher because the guy who sold it to me had to pay a tariff, I'm so well, I don't get any money. [SPEAKER_01]: But if you are the business that imported the stuff and you wrote the check to the US government, you get your money back, all of it. [SPEAKER_01]: Now, you don't need to sign your claim to one of these guys that's running commercials. [SPEAKER_01]: I don't know what their take is.

[SPEAKER_01]: What percentage they take of your refund? [SPEAKER_01]: But if it's not that high, maybe it's easier than doing it yourself. [SPEAKER_01]: Because obviously, you just can't write the government a letter and they're not going to send you a check. [SPEAKER_01]: There is a legal process to sue for your refund. [SPEAKER_01]: And so you can either do it yourself or you can just sign on to one of these things and they're already doing it for people.

[SPEAKER_01]: But now you've got a cottage industry that's been created to help people get their their refunds. [SPEAKER_01]: But what this also provides evidence of which we didn't even need because it was obvious to everybody except the president and all the idiot republicans that are afraid to criticize him. [SPEAKER_01]: It's not the Chinese who are going to get these tariff refunds. [SPEAKER_01]: It's not the Mexicans. [SPEAKER_01]: It's not the Canadians.

[SPEAKER_01]: They're going to Americans because it's Americans who paid the taxes. [SPEAKER_01]: Now, if there's a Chinese company with a US office and their US subsidiary paid the tariff, then they'll get it back, because it was their US company that paid the tariff. [SPEAKER_01]: But the companies outside America, [SPEAKER_01]: never paid a nickel of those terrorists. [SPEAKER_01]: They were all paid for by US companies.

[SPEAKER_01]: Now for some of these companies, this could be a real windfall because if they did pass on the tariff to the customers, when they get the tariff refund, they're not obligated to go find those customers and write them a check. [SPEAKER_01]: No, it's just extra money. [SPEAKER_01]: Money that they didn't expect. [SPEAKER_01]: to have. [SPEAKER_01]: Now in some cases, they might not have passed on all the tarot. [SPEAKER_01]: They might have eaten some of it.

[SPEAKER_01]: And so now they're going to get that back. [SPEAKER_01]: Now, if you are an individual who directly imported stuff and you pay to tarot, then you can also get a refund. [SPEAKER_01]: And now, if it's a small amount, right, paid $100, $200, it may not be worth the effort, right, you know, to get it back. [SPEAKER_01]: And I don't think these customer, these mass tort lawyers are going to take a claim that small. [SPEAKER_01]: It's too much paperwork for nothing.

[SPEAKER_01]: So they're the governmental probably get away with keeping it, right, if it was a small amount. [SPEAKER_01]: But all of this is going to be a burden on the federal budget. [SPEAKER_01]: So we expect to see the deficits increasing as the government is no longer collecting as much tariff revenue. [SPEAKER_01]: They still got some tariffs, so the government's still getting some tariff revenue, but they're also paying back a lot of tariffs that they collected in the past.

[SPEAKER_01]: The national debt now is 39.16 trillion. [SPEAKER_01]: We will be 40 trillion, probably before the summer. [SPEAKER_01]: And then when we get into the next recession, things are really going to start to spiral out of control. [SPEAKER_01]: As I said, I think we're going to see 50 trillion deficit before Trump.

[SPEAKER_01]: leaves office that that is a big number a big number you know the U.S. government only collects about five and a half trillion not only it's still a lot five and a half trillion a year in taxes.

[SPEAKER_01]: And they spend about $7.2 trillion, you know, officially, unofficially, they spend a lot more than that, right? [SPEAKER_01]: The official spending numbers don't account, don't account for a lot of spending. [SPEAKER_01]: That's why the reported budget deficits every year are so much smaller than the actual increase in an national debt. [SPEAKER_01]: See, that's why I don't pay attention to the official numbers.

[SPEAKER_01]: If you want to know how much the deficit was in any given year, [SPEAKER_01]: just look at the national debt when the year started and look at the national debt when the year ended. [SPEAKER_01]: If the national debt rose by 3 trillion, but the government says the budget deficit was 2 trillion, you know, it's a lie because there's 3 trillion more debt now than there was when the year started. [SPEAKER_01]: So if you added 3 trillion in additional debt that you didn't have, right?

[SPEAKER_01]: Well, you must have run up 3 trillion in new debt. [SPEAKER_01]: Otherwise, [SPEAKER_01]: The debt wouldn't go up by that, but they have all these expenditures that they don't count because they say, well, you know, they're non-recurring except they happen every year. [SPEAKER_01]: You know, and it may not be the same thing like disaster relief, right? [SPEAKER_01]: That's non-recurring. [SPEAKER_01]: Oh, yeah.

[SPEAKER_01]: Well, we're not going to have that particular disaster every year. [SPEAKER_01]: Yes, but every year there are going to be disasters. [SPEAKER_01]: And if every year you just don't count the spending because, you know, it wasn't specifically budgeted, but you know, you know it's going to happen.

[SPEAKER_01]: every year it happens and there's all kinds of of things that they don't count because they say they're they're not we don't officially include it as a line item of expenditure but it just it just happens so the whole thing is is dishonest but the deficit is is soaring and the war the war is going to make it worse and you know Trump has said he wants to increase military spending [SPEAKER_01]: by 50%, right, he wants to take the budget up to 1.5 trillion.

[SPEAKER_01]: And remember, when his secretary of the treasury was asked on national television, meet the press, how you get to pay for this, are you going to raise taxes, he laughed it off. [SPEAKER_01]: And then said, what a stupid question. [SPEAKER_01]: Of course, we're not going to raise taxes, right? [SPEAKER_01]: We're just going to borrow the money, we're going to print the money, we're going to have [SPEAKER_01]: And that's why gold's going up.

[SPEAKER_01]: War is good for gold because war means inflation. [SPEAKER_01]: And you get into a war, you never know where it's gonna take you. [SPEAKER_01]: It always goes to places that you never intended, right? [SPEAKER_01]: The war is already taking on a whole new dimension. [SPEAKER_01]: God knows how long we're going to be there. [SPEAKER_01]: Just like Iraq, just like Afghanistan, Trump was right to criticize our involvement in Iraq.

[SPEAKER_01]: He was right to criticize our involvement in Afghanistan. [SPEAKER_01]: And he was right to warn us not to get involved with Iran. [SPEAKER_01]: he was wrong to start a war like that. [SPEAKER_01]: That's the problem. [SPEAKER_01]: And he still claims that, well, you know, I didn't start this war. [SPEAKER_01]: They started it 50 years ago. [SPEAKER_01]: Okay. [SPEAKER_01]: Then why didn't you say that when you ran for office, right? [SPEAKER_01]: Why didn't you?

[SPEAKER_01]: Why wasn't your campaign slogan vote for me? [SPEAKER_01]: And I'm going to kick some Iranian ass.

[SPEAKER_01]: I'm going to get, I'm going to get these guys for what they've been doing. [SPEAKER_01]: No, that wasn't the campaign slogan.

[SPEAKER_01]: And so, you know, [SPEAKER_01]: uh... on the last podcast i thought were were one were were you know but you know i wanted to mention i forgot to say the the only good thing that came out of were were one because the worst thing that came out of where were one was were were two but the only good thing to come out of it was a good song that was it right to the recruitment song over there right George co-han out of you if you don't have any heard that song go listen to it

[SPEAKER_01]: Because I mean, I was a great song. [SPEAKER_01]: Apparently he wrote it in like half an hour. [SPEAKER_01]: It's a fantastic song. [SPEAKER_01]: They used it at World War II as well. [SPEAKER_01]: But it's probably the best military song ever. [SPEAKER_01]: And that's basically what we got for the war is a nice song that sold a lot of sheep music. [SPEAKER_01]: And then a lot of records. [SPEAKER_01]: Um, which we don't we don't have anymore.

[SPEAKER_01]: But anyway, I start I'm starting to drift off in the in the various tans and tangents here as I'm coming to the end of this podcast. [SPEAKER_01]: I'm looking at the time right now. [SPEAKER_01]: In fact, by time or stop working for walk. [SPEAKER_01]: So I'm probably I'm probably already over an hour. [SPEAKER_01]: But anyway, so again, make sure to and I should have said this at the beginning.

[SPEAKER_01]: I say this every time at the end and a lot of people don't even stick around to the end of these podcasts. [SPEAKER_01]: uh... but make sure and subscribe to my channel both this channel and the shift shift uh... shift gold youtube channel give it a give it a like at a thumbs up at a common get the engagement going just in case i can get out of my shadow ban or something whatever's going on uh... with youtube and my channel

[SPEAKER_01]: You know, before the next break out in gold and silver, buy yourself some, get some tea gold, look at these gold stocks, go to your, your, my, my, my website, your specific, as, as a management, your path.com, get the perspectives is understand the risks, right? [SPEAKER_01]: Every, obviously, everything can go down, everything can lose money.

[SPEAKER_01]: uh... but you know you're gonna lose money no matter what you do and even if you don't lose money your money is gonna lose value so you got to pick the risk that you want to take and then decide how you want to play this game because everything you do has risks even stuff they tell you doesn't have risk has a lot of risk and sometimes the stuff that they tell you is ultra safe [SPEAKER_01]: uh, is in fact very risky.

[SPEAKER_01]: Once you understand where the risks are, I know where the risks are in my mind and I avoid the risks that I think are the best threat. [SPEAKER_01]: Anyway, that's it for now. [SPEAKER_01]: Have a great weekend and I'll be back again next week with more podcast. [SPEAKER_01]: So I'll see you then.