Trump Fed Feud Sends Gold and Silver Soaring

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

[SPEAKER_01]: If we lose freedom here, there's no place to escape to. [SPEAKER_01]: This is the last stand on Earth. [SPEAKER_01]: A Peter ship shall he's on. [SPEAKER_01]: I don't know, when they decided that they wanted to make a virtue out of selfishness. [SPEAKER_01]: You're money. [SPEAKER_01]: You're storing this for your freedom. [SPEAKER_01]: A Peter ship shall. [SPEAKER_00]: Buddy, welcome to a live episode of the Peter Shiff Show podcast.

[SPEAKER_00]: It is Monday just after the U.S. stock markets have come to a close.

[SPEAKER_00]: And once again, the big story of the day. [SPEAKER_00]: in the markets anyway is precious metals gold and silver. [SPEAKER_00]: In fact, I did a shift gold market rap on Friday to talk about the big week that the precious metals had. [SPEAKER_00]: And here we are one day into this week and it's even bigger.

[SPEAKER_00]: Silver today was the superstar it closed up five dollars and thirty cents above eighty five dollars eighty five fourteen I think is about word settled and in today we almost got to eighty six we were above eighty five uh... ninety which means that silver was up more than six dollars on the day [SPEAKER_00]: That is a huge move. [SPEAKER_00]: Again, when I first started buying silver for myself and for a clients, silver was under $5 an ounce.

[SPEAKER_00]: Today's move was greater than the entire value of the commodity when I first started to buy it. [SPEAKER_00]: In fact, I remember.

[SPEAKER_00]: when silver got above five dollars i remember thinking oh this is big we broke in above five dollars right now we have you know uh... it's gonna go higher no and yes you know it's now a lot higher above eighty five dollars the prior record before this day [SPEAKER_00]: The record that Silver set a few weeks ago, I think it was maybe the day after Christmas, boxing, day, evil, and ever, I think that's what had happened. [SPEAKER_00]: Silver got above 83.

[SPEAKER_00]: didn't quite make it to 84, but it got to 83 in change. [SPEAKER_00]: That was the record until last night when it broke it and then it broke it again during our time zone. [SPEAKER_00]: Same thing with gold. [SPEAKER_00]: Gold also hit a new record high today. [SPEAKER_00]: At one point it was up about $120 an ounce, which dollar wise I believe is the biggest gain ever.

[SPEAKER_00]: for gold now it's not the biggest percentage gain uh... but dollar wise it is i've never seen gold up a hundred twenty dollars i've seen it up a hundred and that was recently prior to you know this you know last couple of months i'd never seen that [SPEAKER_00]: But now I've seen 120 it didn't close up 120 it closed up about $90 just below 4600 the high gold almost got to 4630 but it closed around 4598 but the prior high [SPEAKER_00]: before this was 44, 40-ish.

[SPEAKER_00]: All right, it was somewhere below 4450. [SPEAKER_00]: So we blew through that and set new records. [SPEAKER_00]: So we closed today, not only at record highs in both golden silver. [SPEAKER_00]: but we closed above the prior all-time record highs. [SPEAKER_00]: So the charts look phenomenal, and of course the fundamentals look even better than the charts, assuming that you understand the fundamentals.

[SPEAKER_00]: Now, gold and silver mining stocks also had decent days. [SPEAKER_00]: You know, I think they were up to GDX. [SPEAKER_00]: Let me take a look. [SPEAKER_00]: I think it was up 3.5% or so 3.4% GDXJ up 3.5%. [SPEAKER_00]: But that's nothing. [SPEAKER_00]: Again. [SPEAKER_00]: these stocks should be up so much more. [SPEAKER_00]: It's just that investors still don't appreciate the significance of what's happening in gold and silver. [SPEAKER_00]: They're still much too cautious.

[SPEAKER_00]: They're worried that maybe this is some kind of bubble. [SPEAKER_00]: They're waiting for the market to drop. [SPEAKER_00]: Well whether waiting for gold and silver prices to come down, they are going to keep going up. [SPEAKER_00]: Now at some point investors are going to have to wake up to this reality and what it means for the earnings of mining stocks. [SPEAKER_00]: and these mining stocks ultimately are going to have to catch up and they have a long way to go to catch up.

[SPEAKER_00]: Don't wait, right?

[SPEAKER_00]: Take your positions now again my favorite way for people to get involved other than opening up a separately managed account with your [SPEAKER_00]: And I've been pounding the table or my desk what I got over here to buy this, you know, pretty much all last year Because I saw the breakout and none of this is surprising to me all that surprised me is that it's taken so long [SPEAKER_00]: And it is somewhat surprising that so few people see the significance.

[SPEAKER_00]: You know, I was watching on CNBC today, and again, I watched that so you guys don't have to. [SPEAKER_00]: But I watch it just so I can see what the mainstream media is telling the public.

[SPEAKER_00]: And despite this big move in gold, there was very little discussion. [SPEAKER_00]: There was some discussion of it because it couldn't be avoided. [SPEAKER_00]: And one of the anchors there mentioned gold. [SPEAKER_00]: It's the first time she mentioned it. [SPEAKER_00]: And she said, oh, gold is up a bit today. [SPEAKER_00]: Nothing significant, right? [SPEAKER_00]: Up a bit, it was a hop 115 dollars when she said that. [SPEAKER_00]: That's not a bit.

[SPEAKER_00]: That's a big move. [SPEAKER_00]: and given that it was the largest dollar move in the history of gold trading to just dismiss it as saying, well, nothing significant. [SPEAKER_00]: It is significant. [SPEAKER_00]: This entire gold rally is significant. [SPEAKER_00]: The problem is the mainstream financial media and the mainstream financial industry has no clue what it means. [SPEAKER_00]: Again, to me, it's just like when the subprime market blew up.

[SPEAKER_00]: And I knew the significance of that because I had been anticipating it. [SPEAKER_00]: I was short. [SPEAKER_00]: I was telling people to get short. [SPEAKER_00]: I knew that we had a housing bubble. [SPEAKER_00]: And I knew the fuel for the bubble was coming from mortgage finance. [SPEAKER_00]: And I knew that the weakest link in a very weak chain was subprime. [SPEAKER_00]: And that once subprime cracked, the rest were going to go.

[SPEAKER_00]: But [SPEAKER_00]: mainstream Wall Street, the Federal Reserve, as clueless as they were to the true state of the U.S. economy, and they didn't appreciate the literal house of cards that had been erected when subprime cracked. [SPEAKER_00]: They were like nothing worry about everything is contained, right? [SPEAKER_00]: Because they didn't appreciate it. [SPEAKER_00]: They didn't know what to look for. [SPEAKER_00]: So they didn't know what just happened.

[SPEAKER_00]: is what I've been predicting would happen for a long, long time. [SPEAKER_00]: It's finally happening, but it's happening for precisely the reasons that I said it would happen. [SPEAKER_00]: Just like what happened with the mortgage market and the financial crisis, I didn't just get lucky. [SPEAKER_00]: Everything happened the way I said it would happen for the precise reasons that I said it would happen.

[SPEAKER_00]: Now, the only thing I didn't get right to an extent is how long it would take, and obviously it's taken a lot longer than I would have thought or I did thought, think more than a decade ago, I expected gold to hit 5,000 over 10 years ago. [SPEAKER_00]: Now, it's probably going to hit 5,000 this month. [SPEAKER_00]: But of course, I've adjusted my my target now because this problem has gone on for as long as it has because we've kicked the can down the road for that decade.

[SPEAKER_00]: 5000 is not my target. [SPEAKER_00]: We're going to have 10,000 more 20,000. [SPEAKER_00]: We're going much higher. [SPEAKER_00]: Had gold gone to 5,000 in 2012, 2013. [SPEAKER_00]: Had we had a dollar crisis and a sovereign debt crisis back then, maybe we could have diffused the situation. [SPEAKER_00]: And we would have already been on the up swing a long time ago. [SPEAKER_00]: But no, the problem got much, much worse than it was back then.

[SPEAKER_00]: And it just means gold is going to be a lot higher before this gets resolved. [SPEAKER_00]: But what was the catalyst for this big move? [SPEAKER_00]: Now, of course, I don't even think we needed a catalyst pretty much every Sunday night, like clockwork. [SPEAKER_00]: You get a big move up in gold and silver. [SPEAKER_00]: Now, this is one of the biggest, maybe the biggest.

[SPEAKER_00]: And but that's why I'm always telling people, you know, get your orders in, you know, I do these, you know, shift goal Friday market wraps that I say, buy Friday, buy Friday night, buy Saturday morning, Saturday night, Sunday morning, we're 24 seven at shift gold. [SPEAKER_00]: Don't wait till Sunday night because that's when the Chinese wake up and they start buying gold and the price goes up. [SPEAKER_00]: So we don't even need a catalyst.

[SPEAKER_00]: I mean, the catalysts are already, you know, entrenched in place. [SPEAKER_00]: So gold's over going to go up, but there was some things that happened over the weekend that were particularly bullish for gold. [SPEAKER_00]: And in fact, they're probably more bullish than was reflected in the market, certainly in the bond market and the foreign exchange market, the dollar was down, bonds were down and stocks were down, but they finished positive, so they shrugged it off.

[SPEAKER_00]: uh... the golden silver uh... were the primary markets that reacted to the news uh... but maybe they'll be a delayed reaction in less of course there's damaged control and they walked a whole thing back which which they may do but you know the chicken is is out of the bag now or the cat side of the uh... and so it's hard to really walk back even though they may try but it's pretty much out there so the big news

[SPEAKER_00]: was that Jerome Powell came out on X with a little video that he recorded and he revealed that on Friday he had been served or the Fed had been served with a subpoena to get information on Powell because he is under criminal investigation before a grand jury. [SPEAKER_00]: So a grand jury is being asked to return an indictment of your own pal. [SPEAKER_00]: Now, indict him for what? [SPEAKER_00]: I mean, he's certainly incompetent, but then so are all the fed chairman.

[SPEAKER_00]: But you can't indict somebody for that. [SPEAKER_00]: I mean, if you did, then everybody be a jail, right? [SPEAKER_00]: The reason they wanted to indict him is because they said that he testified falsely. [SPEAKER_00]: So I guess he may be lied under oath and said something to Congress. [SPEAKER_00]: of the renovation of the Federal Reserve headquarters. [SPEAKER_00]: And, you know, the obviously this thing is a complete disaster.

[SPEAKER_00]: They spent like two and a half billion dollars redoing this building. [SPEAKER_00]: I mean, they're not even building a new headquarters for scratch, right? [SPEAKER_00]: They're renovating the one they've got. [SPEAKER_00]: and they're spending a fortune which shouldn't be a surprise that they're reckless and inefficient with their money.

[SPEAKER_00]: I mean, that's par for the course in Washington again, if you're going to throw people in jail for wasting money, I mean, the whole city would be a jail, right? [SPEAKER_00]: But what they want to do is they want to sit, you're saying that he said some things that weren't true, he lied, right? [SPEAKER_00]: He lied to Congress.

[SPEAKER_00]: and so they want to indict him for that again I mean it's laughable because of course he lies to Congress that's his job his job is to lie I mean he can't tell the truth I mean forgot say we can't handle the truth right he knows that all the fed chairman know that they can't be honest and so they they everything is is a lie but it's not just

[SPEAKER_00]: The fed chairman who lies whenever he goes to Congress and he testifies all the Congressmen and women they're lying to it to hold thing as lies it's one lie after another. [SPEAKER_00]: I mean politicians are professional liars, that's what bankers are in any different Donald Trump lies he lies like crazy he's probably one of the best liars there is right I mean he rarely tells the truth right so how is Trump talking about hypocrisy?

[SPEAKER_00]: He's trying to get Paul and died in for lying when he tells lies every single day. [SPEAKER_00]: So the whole thing is laughable. [SPEAKER_00]: You know, in fact, one of the things I don't care about him lying about is, is that? [SPEAKER_00]: I mean, that's like a little white lie who cares about the money they're wasting. [SPEAKER_00]: There's much bigger fish to fry. [SPEAKER_00]: He's lying about things that are far more important.

[SPEAKER_00]: then how much the elevators cost in the fed building. [SPEAKER_00]: And by the way, look, there's a reason for this. [SPEAKER_00]: The Federal Reserve always had the most expensive building in Washington, D.C., the way the Federal Reserve was created. [SPEAKER_00]: Again, the Federal Reserve is private. [SPEAKER_00]: It's not a government agency. [SPEAKER_00]: Now, they have a special tax regime. [SPEAKER_00]: the member banks are allowed by statute.

[SPEAKER_00]: Now, I forget the exact amount, right? [SPEAKER_00]: But so I'm close. [SPEAKER_00]: But they're allowed a return on their capital investment. [SPEAKER_00]: And I think it's 6%. [SPEAKER_00]: And there's some ways that that can be changed. [SPEAKER_00]: But let's say 6%. [SPEAKER_00]: The Fed pays dividends of 6%. [SPEAKER_00]: of the profit that it makes, running the Fed, right?

[SPEAKER_00]: I'll open market operations, all the things that it does, it generates a profit, and it's allowed by statute to distribute the profit to the banks that own the Fed. [SPEAKER_00]: Private banks, right? [SPEAKER_00]: Just nothing, government. [SPEAKER_00]: But everything above that amount, [SPEAKER_00]: gets given or paid to the US government. [SPEAKER_00]: So it's effectively a 100% tax bracket, right? [SPEAKER_00]: They're in the 100% bracket.

[SPEAKER_00]: One-stave met this maximum distribution that they're allowed to make. [SPEAKER_00]: So what is the incentive of the Fed? [SPEAKER_00]: I mean, do they have an incentive to keep cost down? [SPEAKER_00]: Well, no, because whatever they don't spend, they're sending to the government. [SPEAKER_00]: So it's all gonna be gone. [SPEAKER_00]: You know, if you were in the 100% tax bracket, right? [SPEAKER_00]: If you could write off 100%. [SPEAKER_00]: of your office decor, right?

[SPEAKER_00]: How expensive would your office be? [SPEAKER_00]: Right? [SPEAKER_00]: I would spend everything that I was going to pay in taxes on my office to zero out my income, right?

[SPEAKER_00]: So if I had a million dollars, [SPEAKER_00]: left over, right, that I was going to have to pay a hundred percent tax on, but I could take the million dollars and build myself a really fancy office, hell, let's build the office, cost me nothing, cost the government a million dollars, it's nothing out of my pocket, I'll spend the government's money all day long, so that's what the Fed does, they don't care. [SPEAKER_00]: Right? [SPEAKER_00]: It's not their money.

[SPEAKER_00]: It was just going to Washington, who gives them them. [SPEAKER_00]: They're just going to waste it anyway. [SPEAKER_00]: Just gets lost in the sauce. [SPEAKER_00]: I mean, the budget is trillions and trillions of dollars. [SPEAKER_00]: So yeah, they have no incentive. [SPEAKER_00]: Yeah, give me give me the nicest bathrooms, right? [SPEAKER_00]: Let me have more marble. [SPEAKER_00]: Whatever. [SPEAKER_00]: They don't care.

[SPEAKER_00]: This is not news that the Federal Reserve doesn't give a damn about spending the public's money. [SPEAKER_00]: Neither does anyone in Congress. [SPEAKER_00]: Neither does a president. [SPEAKER_00]: So obviously, this has got nothing to do with it, right? [SPEAKER_00]: It's all a pretense and Jerome Powell laid it out, precisely in his video that he posted on X. [SPEAKER_00]: And I'm gonna talk about that and the rest of the podcast on the other side of this commercial break.

[SPEAKER_00]: So stick around, we're coming right back. [SPEAKER_00]: So I'm talking about this feud that is escalating between the president of the United States and the chairman of the Federal Reserve. [SPEAKER_00]: So as your own pal, I'll put his video message on X last night. [SPEAKER_00]: and in that message he basically revealed the grand jury indictment or not indictment the criminal investigation and the potential indictment.

[SPEAKER_00]: And he basically said, look, this has got nothing to do with the renovations, you know, just like the Lisa Cook stuff has got nothing to do with her mortgage fraud. [SPEAKER_00]: It's all a pretense Trump wants to get rid of Lisa Cook to replace her with Alachie. [SPEAKER_00]: He wants the same thing with Powell. [SPEAKER_00]: Now, Powell is already leaving, right, as Fedcher.

[SPEAKER_00]: But the problem for Trump is that Powell, even though his term is up as chairman, his term as FOMC member is not up. [SPEAKER_00]: He doesn't have to leave the federal open market committee for, I think, a couple more years after that. [SPEAKER_00]: Now, normally, when a Fed share is not reappointed, they leave, even if they have some time relating remaining on their tenure, they don't stick around, right?

[SPEAKER_00]: It's like, generally, they want to leave and go on the speaking turquoise. [SPEAKER_00]: Speaking, what's the circuit? [SPEAKER_00]: It's speaking, circuit. [SPEAKER_00]: because these guys make like a quarter million a pop to give speeches right uh... so i think being x fed share is a lot more lucrative than being the sitting fed share so usually they're happy to get out and start you know parling uh... cashing in on their their their their fame

[SPEAKER_00]: plus plus also it's probably you know a let down you know once you've been the chief once you've been the big guy you don't want to be an Indian right it's you know all right I don't want to just be another member you know you're not in the limelight anymore I get it right it's like you know if you've been president do you really want to you know run for vice president although Trump might try to do that right so he can get the president to resign and then he can circumvent the 22nd amendment and uh uh

[SPEAKER_00]: arise to the president and see without being elected, but I digress there, but you get my point. [SPEAKER_00]: So normally, Powell would leave, but there's a chance that Powell is going to stay just a stick at the Trump, and not maybe just a stick at the Trump, but to defend what he maintains is the independence of the Fed, because if he's still a member, there are seven members who vote. [SPEAKER_00]: And so it's a majority rule, right?

[SPEAKER_00]: The Fed chairman doesn't have any more votes than anybody else. [SPEAKER_00]: His opinion carries a lot of water, so he can sway votes. [SPEAKER_00]: But it's one man or woman, one vote. [SPEAKER_00]: And right now, there are two Trump flunkies who vote. [SPEAKER_00]: When Powell is replaced, there'll be three. [SPEAKER_00]: Trump may not control the Fed. [SPEAKER_00]: He'll have three out of four. [SPEAKER_00]: They'll always have to persuade one more person.

[SPEAKER_00]: But if Powell leaves, [SPEAKER_00]: and Trump gets to appoint another guy or gal. [SPEAKER_00]: Now he's got four out of three. [SPEAKER_00]: He could be isn't complete control of the Fed. [SPEAKER_00]: So that might be what's at play here. [SPEAKER_00]: Maybe Trump is trying to push pal out by saying, look, you know, you go quietly. [SPEAKER_00]: There's no criminal indictment here, right? [SPEAKER_00]: Play ball. [SPEAKER_00]: I don't know.

[SPEAKER_00]: Or maybe because Trump has, you know, up the ante so much, [SPEAKER_00]: with the criminal investigation maybe that has emboldened pal maybe he was going to leave and I was like screw it right I ain't going anywhere right short and bell for the style right to I I leave it so but this is all playing out in public now right talk about airing your your your dirty monetary laundry in public this doesn't play out very well on the world economic [SPEAKER_00]: This is pivotal here.

[SPEAKER_00]: This is coming down to, are we going to have an independent Fed? [SPEAKER_00]: Are we going to have a Fed where interest rates are set? [SPEAKER_00]: by the federal reserve independently based on their judgment as to what the appropriate rate should be based on the circumstances based on what we think is right for the economy or is it going to be based on what the president wants to do right now I don't like either of those right they're both bad.

[SPEAKER_00]: I want interest rates set by supplying demand by the free market. [SPEAKER_00]: I don't want the Fed doing it, and I don't want the President doing it. [SPEAKER_00]: But given a choice between the lesser of those two evils, I'd take the Fed. [SPEAKER_00]: You know, over an elected President any day.

[SPEAKER_00]: And apparently, so would the rest of the world, that is, you know, using the dollar, holding the dollar as a reserve currency, they would have more faith in the independent Fed. [SPEAKER_00]: then knowing that the Fed is controlled by whoever happens to occupy the White House. [SPEAKER_00]: And as bad as Trump might be and believe me, Trump would be very, very bad to have his hand on the printing press. [SPEAKER_00]: But what if AOC becomes president?

[SPEAKER_00]: Or man's name, or Bernie Sanders, or who knows? [SPEAKER_00]: Pick your Democratic list. [SPEAKER_00]: What are they going to do when they throw a Fed, right? [SPEAKER_00]: Because whatever powers Trump has, they go to the next president. [SPEAKER_00]: It is horrible presidents to set. [SPEAKER_00]: So you're sitting around and you're holding dollars and you're watching this. [SPEAKER_00]: You're like, I'm out of here. [SPEAKER_00]: I got no confidence in this currency.

[SPEAKER_00]: This thing is going to be train wreck. [SPEAKER_00]: Like, look what happened, you know, to the Turkish lira, you know, when it becomes political when you make monetary policy.

[SPEAKER_00]: a political it's already political that I mean that's the other irony of this whole thing is that independent is already a pretense yet now we're disclosing that right the fed is never truly been independent they just pretend behind the curtains it's all political everything they do is political but now it's not pretend anymore now they're you know it's kind of out front

[SPEAKER_00]: I was watching on Larry Cudlow's show today, Cudlow discussing this controversy, which rightly made gold go up and silver go up. [SPEAKER_00]: The dollars should have gone down more. [SPEAKER_00]: Bonds should have gone down more. [SPEAKER_00]: They were down, but they weren't down as much as they should have been. [SPEAKER_00]: But they're discussing, he's got art laugh for on there and Steve Moore. [SPEAKER_00]: Now, they're on all the time.

[SPEAKER_00]: None of these guys would criticize Trump for what he's doing. [SPEAKER_00]: And in fact, they all to a man said, yeah, pal's got to go, pal's the worst. [SPEAKER_00]: He's the worst fed chairman, and he's terrible. [SPEAKER_00]: He's done all this bad stuff. [SPEAKER_00]: So Trump is right that we've got to get rid of this guy. [SPEAKER_00]: And maybe he's lying about this other stuff. [SPEAKER_00]: But what they said is, what really matters is how bad he is and how he's got to go.

[SPEAKER_00]: of Jerome Powell, although I'm warming up to him a little bit more recently, but no, I'm not a big fan of Powell, but compared to Greenspan, Bernanke and Yellen, right? [SPEAKER_00]: the best fed chairman of my lifetime was Paul Volker. [SPEAKER_00]: But since Volker, Powell is number two, that's how low the bar is. [SPEAKER_00]: Yes, Powell printed way too much money after COVID. [SPEAKER_00]: But you think Janet Yellen would have done anything different?

[SPEAKER_00]: You think Ben Bernacchi? [SPEAKER_00]: Of course not, they did about the exact same thing. [SPEAKER_00]: He didn't write that playbook. [SPEAKER_00]: He just followed it. [SPEAKER_00]: Now, yes, he was in denial about inflation. [SPEAKER_00]: But again, they all would have denied it. [SPEAKER_00]: They've been denied it for decades. [SPEAKER_00]: Yes, he waited too long to raise rates, but at least he raised them.

[SPEAKER_00]: You know, and he raised them a lot more than people thought he should have, so at least he did that. [SPEAKER_00]: And yes, you cut them too soon, I thought, but again, so would everybody else. [SPEAKER_00]: at least he raised them. [SPEAKER_00]: Look, he did not light that fire, right? [SPEAKER_00]: But yeah, he, he, he, he fed it. [SPEAKER_00]: He fueled it. [SPEAKER_00]: He had started. [SPEAKER_00]: He walked into a very bad situation.

[SPEAKER_00]: That inflation, that finally blew up. [SPEAKER_00]: The seeds of that inflation were sewn long before he got to job. [SPEAKER_00]: Yeah, he made it worse, no question about it, but so would any of the predecessors. [SPEAKER_00]: But when you look at the totality of what they did and the damage that they did, the other ones are worse. [SPEAKER_00]: So it's not that this is guy, it's so unprecedentedly bad.

[SPEAKER_00]: Oh, we just gotta get rid of Powell because Yellen was so much better or Bernaki was so much better. [SPEAKER_00]: They weren't, they were actually worse. [SPEAKER_00]: Now, comes to the replacement. [SPEAKER_00]: I guarantee you this.

[SPEAKER_00]: whoever Trump picks to replace Powell will be way worse right cudlow and and and and laugh or and steam more they're saying we got to get somebody good in there you know we got to get rid of this horrible guy and put somebody good in there [SPEAKER_00]: nobody good is even being considered for the job. [SPEAKER_00]: We're never going to put somebody good in office. [SPEAKER_00]: That's the last thing they want.

[SPEAKER_00]: In fact, the reason they want to get rid of Powell is because you won't play ball because you won't cut rates enough. [SPEAKER_00]: That's the one thing he's doing good. [SPEAKER_00]: He actually should be hiking rates, right? [SPEAKER_00]: So he's got that wrong, but at least he's not caving to all the pressure to cut them even more. [SPEAKER_00]: What Cudlow and the gang want is they want somebody in there who will do exactly what Trump wants? [SPEAKER_00]: How is that good?

[SPEAKER_00]: That's like, you know, I want to have a chaperone at the prom who's going to bring all the liquor and make sure the punch bowl is spiked to the max, right? [SPEAKER_00]: That maybe that's what the kids want, but not the parents, they don't want that. [SPEAKER_00]: So they can't criticize Trump for anything and they're behind him, but this is the kind of stuff that's going on. [SPEAKER_00]: This is so bullish for gold and silver.

[SPEAKER_00]: Even if they walk it back, who knows, maybe we'll get a pullback in gold and silver, and if they walk it back, right? [SPEAKER_00]: But look, we're not gonna stop making new highs. [SPEAKER_00]: We are completely repricing these assets for a new world where the dollar is no longer the reserve currency. [SPEAKER_00]: Gold is gonna be the reserve monetary asset. [SPEAKER_00]: Real money, the dollar's days as the reserve are numbered.

[SPEAKER_00]: Silver, of course, is going along with gold, but silver's got a lot of other supply and demand dynamics that are extremely favorable for the price of silver, but again, copper, industrial metals, zinc, nickel, lead, all going up, platinum, palladium, the other precious metals, all on fire. [SPEAKER_00]: Wall Street has no clue. [SPEAKER_00]: Again, as far as they're concerned, this is a side show. [SPEAKER_00]: It's the main event.

[SPEAKER_00]: They just don't understand what's happening. [SPEAKER_00]: They don't know what the show is. [SPEAKER_00]: They're distracted by the side show. [SPEAKER_00]: And of course, the other side show being crypto and Bitcoin, they're still fixated on that. [SPEAKER_00]: Bitcoin was up a little bit today, but probably only because the Nasdaq ended up positive. [SPEAKER_00]: At the market would have tagged Bitcoin probably would have gone down with it.

[SPEAKER_00]: But Bitcoin is not much higher than it started the year. [SPEAKER_00]: It's 91,000, it's no big deal. [SPEAKER_00]: I mean, gold and silver have had much bigger gains so far. [SPEAKER_00]: in twenty twenty six. [SPEAKER_00]: That's Bitcoin. [SPEAKER_00]: Despite the fact that Bitcoin was down six or seven percent last year when silver was up a hundred forty percent or hundred fifty whatever was gold was up sixty some percent sixty five percent or four percent.

[SPEAKER_00]: Um, but Bitcoin's getting ready to collapse because Bitcoin did not rise with gold. [SPEAKER_00]: There wasn't a big rush to Bitcoin as the safe haven, the way everybody rushed into gold and silver. [SPEAKER_00]: People got worried about the dollar. [SPEAKER_00]: They didn't express that fear by grabbing Bitcoin. [SPEAKER_00]: They couldn't care less about Bitcoin. [SPEAKER_00]: They went for real money.

[SPEAKER_00]: They went for gold and silver, but you know, another, uh, uh, [SPEAKER_00]: being that happened over the weekend you're actually three things over the weekend that I think were very dollar bearish and golden silver bullish. [SPEAKER_00]: The other was Trump's proposed cap and he he floated this horrible trial balloon, you know, during the campaign. [SPEAKER_00]: But now he's resurrected it

[SPEAKER_00]: Right. [SPEAKER_00]: Now, apart from the fact that that would be unconstitutional, right? [SPEAKER_00]: I mean, it's not of the government's business. [SPEAKER_00]: If one person or one company wants to make a loan to another person, it's not up to the federal government to decide what the interest rate should be. [SPEAKER_00]: Now, I know various states, you know, they have user-relaws, you know, but the federal government doesn't.

[SPEAKER_00]: And it certainly has no right, you know, so if I want to borrow money and the cheapest loan I could find is 12%, I got to write the bar of that money. [SPEAKER_00]: The government can't say, no, you can't have that loan because then what I'm going to have to borrow it illegally from some loan mark, who might charge me 20% or more, right? [SPEAKER_00]: You know, because the credit card company starts 20%.

[SPEAKER_00]: But anyway, but the fact that the credit card company's charge 20%. [SPEAKER_00]: Trump says that's outrageous. [SPEAKER_00]: The credit card companies are ripping off the people. [SPEAKER_00]: They're gouging the people. [SPEAKER_00]: So we need price controls, right? [SPEAKER_00]: He didn't say price controls, but he did say that the greedy credit card companies are ripping people off. [SPEAKER_00]: They're gouging people.

[SPEAKER_00]: And so the government needs to protect them by setting a maximum price.

[SPEAKER_00]: Well, that is exactly what Kamala Harris said about grocery stores in supermarkets. [SPEAKER_00]: She said that the supermarkets were gouging the customers. [SPEAKER_00]: They were ripping the customers off, and so we needed price controls. [SPEAKER_00]: And when she said that, all the Republicans were out, aha, she's a socialist. [SPEAKER_00]: She doesn't believe in the free market. [SPEAKER_00]: She wants the government to set prices.

[SPEAKER_00]: right well how is that different from what Trump is proposing with credit card interest rates is the same exact rhetoric they're ripping off the people they're screwing the public these greedy banks these mean banks we need the government to come in

[SPEAKER_00]: because capitalism doesn't work, right? [SPEAKER_00]: We need the government to set the prices. [SPEAKER_00]: We can't trust the free market. [SPEAKER_00]: Yet, none of the people are very few of the people that were critical of Kamala Harris are leveling the same criticism on Trump.

[SPEAKER_00]: I mean, not only is that being a hypocrite, but if you believe in capitalism and you don't think socialism works, then you can't just check pick if you believe in price discovery and the free market and competition, then you have to believe in it. [SPEAKER_00]: Either capitalism works or it does it. [SPEAKER_00]: You can't say it works for groceries, but it does it work for credit cards. [SPEAKER_00]: Either it works for everything or it does it work for anything.

[SPEAKER_00]: And the fact of the matter is it works for everything. [SPEAKER_00]: The credit card companies are not ripping anybody off. [SPEAKER_00]: Yes, is a 20% rate high.

[SPEAKER_00]: Yeah, it's high. [SPEAKER_00]: That's why I don't borrow any money out of credit card. [SPEAKER_00]: And most people with good credit don't have a balance on their credit card for the specific reason that they can get a better deal someplace else. [SPEAKER_00]: The people who are running a balance on a credit card are doing because that's the best deal they can get in a highly competitive market. [SPEAKER_00]: And they're choosing to borrow at 20%.

[SPEAKER_00]: No one has a gun to their head, they don't have to do it, they can pay off their balance, they can stop buying stuff, perish the thought, right, but they don't do it. [SPEAKER_00]: they pay it and it's not like they don't know i mean the credit card companies are very up front they tell you you know what the apr is what your credit card rates are um... and those are the rates now [SPEAKER_00]: Are people getting ripped off?

[SPEAKER_00]: Well, no, because there's a competitive market. [SPEAKER_00]: Think about it. [SPEAKER_00]: I mean, one of the most competitive markets out there are credit cards. [SPEAKER_00]: I mean, credit card companies are a time and dozens, there's so many of them. [SPEAKER_00]: So many banks, so many companies issue credit cards. [SPEAKER_00]: I mean, there's so many that you can theoretically [SPEAKER_00]: apply for, right?

[SPEAKER_00]: And they're they're constantly running commercials, advertisements, right? [SPEAKER_00]: They advertise everything, including what their interest rates are.

[SPEAKER_00]: So how could you be getting ripped off when there's so much competition, right? [SPEAKER_00]: The idea that the credit card companies are ripping you off would mean that they're they're earning exorbitant profits with these 20% interest rates. [SPEAKER_00]: but if they really were, competition would get rid of those profits, because somebody would say, you know what, come to me. [SPEAKER_00]: I'll only charge you 18%, I'm not gonna rip you off.

[SPEAKER_00]: Transfer your balance over here, I'm only 18%, right? [SPEAKER_00]: And if that was still an obscene profit, another company would say, hey, [SPEAKER_00]: Look at me, I'm 16%, transfer your balance to me. [SPEAKER_00]: We're only going to charge you 16%. [SPEAKER_00]: The fact that rates are 20%, means that's it. [SPEAKER_00]: You can't go down to 18 or 17 and make money because if you could, somebody would have done it.

[SPEAKER_00]: There's all sorts of other ways they compete to with bonus points and airline points or mileage or cashback or all kinds of stuff. [SPEAKER_00]: And a lot of these companies too, [SPEAKER_00]: they advertise transfer your balance and for the first year you'll get this low interest rate and there are people that constantly transfer their balance from one card to another to keep to keep the interest rate low.

[SPEAKER_00]: I mean, so there's all sorts of ways in such a highly competitive market to try to reduce your cost. [SPEAKER_00]: But the reason, the reason that credit card companies don't charge [SPEAKER_00]: 16 percent or 15 percent is because they can't because they would lose money. [SPEAKER_00]: That's why now the reason that they have to charge [SPEAKER_00]: 20% is because a lot of the people that they loan money to don't pay it back, right?

[SPEAKER_00]: So the ones that do pay back, unfortunately, have to pick up the slack for all the dead beats who don't, right? [SPEAKER_00]: Now, the card companies don't know which of their risky borrowers are going to pay and which aren't they try they do credit checks, they do a lot of things. [SPEAKER_00]: But the problem is, there's a lot of defaults. [SPEAKER_00]: And these are non-recourse loans, right? [SPEAKER_00]: You don't pay off your credit card loan.

[SPEAKER_00]: They've got no collateral. [SPEAKER_00]: They can't go and repossess all the crap that you bought. [SPEAKER_00]: So, you know, and you go bankrupt too. [SPEAKER_00]: It's all discharged. [SPEAKER_00]: They've got nothing. [SPEAKER_00]: They're totally unsecured. [SPEAKER_00]: So it's a risky business. [SPEAKER_00]: And it's a numbers game. [SPEAKER_00]: But also one of the reasons that the interest rates are so high is because there's a lot of regulations.

[SPEAKER_00]: There's a lot of bureaucratic rig tape in the banking system. [SPEAKER_00]: And so the credit card companies need to recoup those costs from their customers, because the customers ultimately pay all the costs, right? [SPEAKER_00]: Now, you would think Donald Trump would know that, right? [SPEAKER_00]: You would think he would know something about businesses after all. [SPEAKER_00]: He's operated so many failed businesses. [SPEAKER_00]: He should know how they work.

[SPEAKER_00]: But maybe that's why he doesn't understand how terrorist work, right? [SPEAKER_00]: He doesn't realize that [SPEAKER_00]: companies pass on tariffs to consumers, just like credit card companies pass on the regulatory costs of running the credit card business. [SPEAKER_00]: So what would happen if Donald Trump's idea became a law? [SPEAKER_00]: What if there actually was a 10% cap? [SPEAKER_00]: on the interest that credit card companies can charge, what would happen?

[SPEAKER_00]: Well, the credit card companies would immediately reduce the credit limits on a lot of their customers. [SPEAKER_00]: And they would cancel the accounts completely of a lot of customers. [SPEAKER_00]: Credit would be restricted. [SPEAKER_00]: They would only loan money to people who they thought were going, we're going to pay [SPEAKER_00]: their loss rates so that they can be profitable at just 10%.

[SPEAKER_00]: So that would mean that probably the majority of credit card customers would lose their credit card access. [SPEAKER_00]: And so now what? [SPEAKER_00]: Okay, so now Donald Trump says we're going to make it illegal for your credit card company to charge you more than 10%. [SPEAKER_00]: When you borrow money and the result is the credit card company won't lend you any money.

[SPEAKER_00]: So, you used to be able to borrow a 20% now the rate is 10% but you can't borrow any money because nobody will lend it to you. [SPEAKER_00]: So now what do you do? [SPEAKER_00]: Well, either you go without the credit or you go to another consumer lender. [SPEAKER_00]: You see, not only is the credit card industry very competitive within itself, but credit card companies compete with other lenders to the consumer.

[SPEAKER_00]: I mean, look at all these a buy now and pay later companies, right? [SPEAKER_00]: They all compete with credit card companies. [SPEAKER_00]: And of course, as I said earlier, loan sharks compete with credit card companies, right? [SPEAKER_00]: I can go borrow money from a loan shark. [SPEAKER_00]: No. [SPEAKER_00]: Normally, if I can borrow my credit card, I ain't going to go to the loan shark, right?

[SPEAKER_00]: Even though the loan shark doesn't have security, he could break my legs. [SPEAKER_00]: He could kick the crap out of me, right? [SPEAKER_00]: So he's got that going for him. [SPEAKER_00]: And the loan shark is probably going to charge me a lot more than city bank. [SPEAKER_00]: So I'd rather borrow from them than resort to a loan shark. [SPEAKER_00]: But the loan shark is still there, right? [SPEAKER_00]: As a competitor, but the payday lender.

[SPEAKER_00]: So what's going to happen is, [SPEAKER_00]: I can't borrow money for card company. [SPEAKER_00]: I'm going to borrow money from my next best alternative, which will be worse than the credit card company. [SPEAKER_00]: So what Donald Trump will do is he will say, okay, you can, your credit card company can't charge you 20% anymore, because, you know, I pass this law, because I care about you, right? [SPEAKER_00]: I'm going to care about the people.

[SPEAKER_00]: And I don't want them to be ripped off by the credit card companies, so they're not going to loan you money any more 20%. [SPEAKER_00]: Okay, so now I go and I borrow money someplace else at 25%. [SPEAKER_00]: So what has been achieved? [SPEAKER_00]: Donald Trump can pretend that he's done me a favor, but I'm actually worse off. [SPEAKER_00]: I'm now getting ripped off 25% by somebody else.

[SPEAKER_00]: Now, what is Trump going to go after those guys too, right, and put them out of business and make it, so I, so the only one who will loan me money is the loan shark, right, because if you make it illegal to loan money, then the only person who could loan me money is a criminal, somebody who doesn't give a damn about the law, right? [SPEAKER_00]: So that's how everything goes underground. [SPEAKER_00]: But again, this is more proof.

[SPEAKER_00]: Donald Trump doesn't understand the Constitution. [SPEAKER_00]: and doesn't understand economics. [SPEAKER_00]: Why does everybody think this guy is such a genius? [SPEAKER_00]: Just because he tells everybody he's a genius? [SPEAKER_00]: You know, most geniuses don't have to repeat it constantly. [SPEAKER_00]: How smart they are, right?

[SPEAKER_00]: It's pretty obvious that they're smart, but in the case of Trump, you know, unless you're, you know, die hard maga, you know, the guy doesn't know what he's talking about when it comes to most things. [SPEAKER_00]: Now, [SPEAKER_00]: also another thing that that he said over the weekend that I find very, very problematic. [SPEAKER_00]: And especially to for the dollar, and this is not getting a lot of play in the mainstream media.

[SPEAKER_00]: And again, this is another reason why when you're finished listening to this podcast, you got to tell your friends to listen to it, too. [SPEAKER_00]: You know, email them the link and say, hey, you got to listen to Peter Schiff, because you're not here in this stuff, any place else, right? [SPEAKER_00]: But anyway, so Donald Trump was interviewed by the New York Times. [UNKNOWN]: I am. [SPEAKER_00]: He was asked a question and this related to foreign policy, right?

[SPEAKER_00]: But still, still, it says a lot. [SPEAKER_00]: But he was asked, are there any limits to your powers? [SPEAKER_00]: Now, I don't want to go over [SPEAKER_00]: What else he did last week, specifically with restarting a form of QE by ordering Fannie and Freddie to buy a couple hundred billion of mortgages, moving, you know, taking

[SPEAKER_00]: Not a Venezuela, you know, saying we're running Venezuela. [SPEAKER_00]: I'm in charge of Venezuela, the making it illegal, trying to pass law so that large institutions are not allowed to use single-family homes. [SPEAKER_00]: I mean, he had so many hair-brain bad ideas last week. [SPEAKER_00]: I already discussed them on the shift goal Friday market wrap. [SPEAKER_00]: So that's a really good podcast, too, that I did.

[SPEAKER_00]: You know, right after you send the link of this podcast to your friends, go listen to the shift-gold market rap, Friday, market rap. [SPEAKER_00]: I have it on both my main YouTube channel and on the shift-gold YouTube channel. [SPEAKER_00]: So I record all that nonsense that he said, right? [SPEAKER_00]: But he was asked about this, oh, yeah. [SPEAKER_00]: And Greenland, but some of the worst comments about Greenland.

[SPEAKER_00]: We're going to go into Greenland, and we're going to make him an offer. [SPEAKER_00]: They can't refuse. [SPEAKER_00]: We're taking Greenland, whether the Greenlanders wanted or not, like, like, we're going to go in there. [SPEAKER_00]: And because we're the strongest guy on the block, and we're going to take what we want, because there's nothing anyone can do.

[SPEAKER_00]: I mean, he's basically using the military [SPEAKER_00]: to basically say that might make right and we could do whatever we want because nobody can touch us. [SPEAKER_00]: Nobody can stop us. [SPEAKER_00]: Look at our military, look at what we did in Venezuela, look at how we came down and took the president or the leader of Venezuela. [SPEAKER_00]: We could do that with any of you want.

[SPEAKER_00]: So you better play ball or else you're going to suffer the wrath of the United States or we're basically threatening, he's threatening the entire world. [SPEAKER_00]: So in this interview near [SPEAKER_00]: The reporter asked him, is there any limit to your power?

[SPEAKER_00]: And Trump said, no, the only limit is my own mind, is my own morality, meaning that we just have to trust his morals, that he doesn't recognize any authority whatsoever, that limits his power, that his power is unlimited, subject only to his own benevolence. [SPEAKER_00]: I mean, [SPEAKER_00]: most kings didn't even have that kind of power. [SPEAKER_00]: I mean, they had some kind of parliament, some kind of, you know, law that limited their powers.

[SPEAKER_00]: No, he believes in the absolute power of the president to do whatever the hell he wants. [SPEAKER_00]: And we should trust him with all his power because he's a nice guy. [SPEAKER_00]: Right, I mean, you know, there's an old saying about power, right? [SPEAKER_00]: Power corrupts absolute power corrupts absolutely. [SPEAKER_00]: Nobody should be trusted with absolute power based on the fact that, hey, they've got a conscience and will trust you to do the right thing.

[SPEAKER_00]: You know, what Trump should have said is when they said, is there a limit to your power? [SPEAKER_00]: Oh, yes, of course. [SPEAKER_00]: There's the Constitution. [SPEAKER_00]: That's what limits my power. [SPEAKER_00]: Yes. [SPEAKER_00]: Trump answers to the Constitution. [SPEAKER_00]: Right? [SPEAKER_00]: And there's checks and balances. [SPEAKER_00]: His power gets limited by Congress. [SPEAKER_00]: His power gets limited by the Supreme Court.

[SPEAKER_00]: Not his own conscience. [SPEAKER_00]: Not, you know, we're not just supposed to be be hoping. [SPEAKER_00]: Hey, let's put somebody in office and hope there are a good person because they have unlimited power. [SPEAKER_00]: We are not electing kings, right? [SPEAKER_00]: Did this is a president here? [SPEAKER_00]: That's another reason I objected to this whole big ball room. [SPEAKER_00]: I don't want to turn the White House in what Palace.

[SPEAKER_00]: We don't call it the White Palace. [SPEAKER_00]: It's a house, right? [SPEAKER_00]: It's supposed to be modest, even though it's big, right? [SPEAKER_00]: It is a house.

[SPEAKER_00]: the president is a president he's not you know a king he's not royal right doesn't have he's not noble he's a cometer who happens to be the president for four years right but when you hear him say stuff like this now somebody can say well Peter you know he didn't say his domestic policy uh you know his power was was unlimited well he wasn't asked [SPEAKER_00]: Ask him to question, let's see what he says, because he clearly doesn't care about the Constitution.

[SPEAKER_00]: He thinks he can do whatever he wants. [SPEAKER_00]: But what I think is significance about this admission on the part of the rest of the world is the rest of the world is going to be we got to do something about this. [SPEAKER_00]: We got to take away this club that we have handed America.

[SPEAKER_00]: because the U.S. dollar being the reserve currency and the world supporting that system where America gets to live beyond its means we get this exorbitant privilege of consuming what the world produces and borrowing what they save and living beyond our means.

[SPEAKER_00]: we have this big military and supposedly we're the good guys right our military force is a force for good right so if some bad person is going to invade an innocent country like Greenland [SPEAKER_00]: We'll protect Greenland. [SPEAKER_00]: We'll use this military that the world helps pay for by financing our deficits and our debt. [SPEAKER_00]: We will use this military to protect you. [SPEAKER_00]: We're the good guys. [SPEAKER_00]: We're the good cops on the block.

[SPEAKER_00]: You've outsourced your military defense to America. [SPEAKER_00]: That's part of the deal, right? [SPEAKER_00]: You buy our bonds. [SPEAKER_00]: You supply us with these goods. [SPEAKER_00]: We have a big military, but you know what, [SPEAKER_00]: Right? [SPEAKER_00]: Well, keep you safe. [SPEAKER_00]: That's the deal. [SPEAKER_00]: Well, now Trump is saying, uh, uh, we get to use this military for our own advantage.

[SPEAKER_00]: We are going into El Salvador. [SPEAKER_00]: I mean, I don't [SPEAKER_00]: Not because it drugs, that's all a pretense, just like, you know, the the the the the reconstruction of the headquarters is a pretense Trump always comes up with a pretense in fact ridiculously a reporter asked Trump [SPEAKER_00]: about the criminal investigation of Powell, and he said, I don't know anything about that. [SPEAKER_00]: What are you talking about?

[SPEAKER_00]: Like, do you really think that the Attorney General or BAM, Tam Bondi or whatever, you think they opened up this investigation without telling Trump? [SPEAKER_00]: Of course not. [SPEAKER_00]: I mean, he obviously told them to do why would they even think about this? [SPEAKER_00]: Right and Trump is like lying. [SPEAKER_00]: I really have it that you know they're trying to indict Powell for lying and Trump lies to the reporter and claims he knows nothing about the whole thing.

[SPEAKER_00]: Oh, no He's being investigated. [SPEAKER_00]: I didn't know about that. [SPEAKER_00]: I mean who the hell would possibly

[SPEAKER_00]: believe that right and of course you know they can pretty much indict anyone they want right you could they say you could indict a ham sandwich don't when they couldn't indict was me right they tried for years to indict me for using my bank to facilitate money laundering and tax evasion and they couldn't they couldn't find anything not only couldn't they indict me they couldn't indict anybody that worked for the bank any customers of the bank right but I digress there

[SPEAKER_00]: Trump is saying we're going down to Venezuela for the oil.

[SPEAKER_00]: they make no bones about that want the oil whether or not excellent mobile wants to be part of it who gives them a crap about them we want the oil right this is all about oil because we need the oil it strategically in our advantage right we work we need oil we need to keep oil prices down then as well as got a bunch of oil we've got a big military we're taking that oil anybody got any problem with that what he's saying right now same thing with greenland

[SPEAKER_00]: We need Greenland. [SPEAKER_00]: Why do we need Greenland? [SPEAKER_00]: Well, it's strategic. [SPEAKER_00]: We like the real state. [SPEAKER_00]: We like where it is. [SPEAKER_00]: We like the natural resources, the critical minerals that Greenland has. [SPEAKER_00]: We need it for the empire, right? [SPEAKER_00]: I want Greenland. [SPEAKER_00]: Trump says I want Greenland for America.

[SPEAKER_00]: And he said, and if we don't take it, China's going to do it or Russia's going to do it, which they've made no indication that they're going to invade Greenland. [SPEAKER_00]: So we're saying, look, we're going to invade Greenland before anybody else invades Greenland. [SPEAKER_00]: But basically, we're telling the world, we're using this big military that you help support against you, against a NATO member, right?

[SPEAKER_00]: We have this whole NATO organization, yet we're going to threaten [SPEAKER_00]: We're going to invade Greenland if you don't sell the country to us and, you know, whatever price I mean, what kind of deal is that? [SPEAKER_00]: Like, you know, it's like the mafia, right? [SPEAKER_00]: Make, you know, negotiate in the deal, right? [SPEAKER_00]: Making, we're going to make the Greenlanders a deal that can't refuse, right?

[SPEAKER_00]: Because if they don't accept the deal, we're just going to come and take it by force and they're going to get nothing, right? [SPEAKER_00]: So when Trump is saying this stuff, and then when he's asked, [SPEAKER_00]: doesn't say the Constitution, doesn't mention international law, not treaties, arrangements, we'd know. [SPEAKER_00]: In Trump's mind, the only thing that limits his power is himself. [SPEAKER_00]: He could do whatever the hell he wants, right?

[SPEAKER_00]: That's what he's saying. [SPEAKER_00]: That would scare the hell out of anybody. [SPEAKER_00]: And so what I would think is we have got to defuse this situation, right? [SPEAKER_00]: How do you do that? [SPEAKER_00]: You dump the dollar, you dump treasuries. [SPEAKER_00]: You create an economic crisis in the United States that number one, Trump's popularity plunges. [SPEAKER_00]: Right, because if the economy tanks, if inflation source, unemployment source, Trump can't do this.

[SPEAKER_00]: He needs political capital. [SPEAKER_00]: All the Republicans are shaking in their boots to defy Trump, because he's got a lot of power to maybe influence their reelection, fund their opposition. [SPEAKER_00]: Like he's trying to get rid of Thomas Massey, the only one of the only decent congressmen we've got, Trump wants to get rid of him. [SPEAKER_00]: Trump calls him a rhino. [SPEAKER_00]: He's the only non-Rino, Trump's the Rhino, Trump's a socialist.

[SPEAKER_00]: He's proposing price controls. [SPEAKER_00]: He says corporations are greedy and they rip people off, doesn't sound like the defender of free market capitalism. [SPEAKER_00]: Who's the Rhino here? [SPEAKER_00]: I mean, although what the hell's the repub-hardy now? [SPEAKER_00]: Nobody knows, Trump is just completely redefined it.

[SPEAKER_00]: But if he loses, if the economy is really tanking, [SPEAKER_00]: Then he's going to lose some of those political capital that he has and people will criticize him. [SPEAKER_00]: But also, if we have a dollar crisis, if the dollar crashes, we can't afford the big military that we have. [SPEAKER_00]: We can't pay the troops. [SPEAKER_00]: They're not going to work for free. [SPEAKER_00]: We have hyperinflation. [SPEAKER_00]: Good luck. [SPEAKER_00]: They're not going to work.

[SPEAKER_00]: And we're not going to be able to afford [SPEAKER_00]: to supply our troops and to maintain them and to maintain all the equipment, right? [SPEAKER_00]: Our empire, the American empire, survives because the world pays us tribute in the form of these trade deficits, they finance and our budget deficits.

[SPEAKER_00]: And, you know, when the world thought they were getting, you know, a good deal they were getting a stable reserve currency, they were getting the protection of the US military. [SPEAKER_00]: Now, they're getting a debase currency, and the US military is being weaponized against them. [SPEAKER_00]: It's being held out as a threat.

[SPEAKER_00]: you better play ball and just pray that I'm in a good mood and then I'm feeling a sense of morality or we're coming after you, we're going to invade you because we've got the biggest club on the block. [SPEAKER_00]: So that's another incentive to disarm the United States.

[SPEAKER_00]: And the fastest way to do that is not [SPEAKER_00]: in the pocketbook in the dollar crash the dollar by gold by silver dump treasuries that's what's going on that's what's gonna happen so all this stuff is going on over the weekend again the masses in the mainstream media have no clue what is going on here [SPEAKER_00]: know, I'm telling you what's happening. [SPEAKER_00]: I don't know now how much longer you have to get your financial house in order.

[SPEAKER_00]: But get it in order you must. [SPEAKER_00]: So you've got to buy gold, you've got to buy silver, buy the shift gold, get a tea gold account because you may need that account in the future for transactions when nobody will accept. [SPEAKER_00]: dollars anymore because they've lost too much value and they lose too much value on a daily basis. [SPEAKER_00]: Get out of U.S. stocks, get out of U.S. bonds, the rest of the world, those markets are cheap.

[SPEAKER_00]: They had a phenomenal year last year, right? [SPEAKER_00]: You know, my dividend payer strategy was up like 62% or more last year, phenomenal return. [SPEAKER_00]: This is not the end of it. [SPEAKER_00]: It's the beginning. [SPEAKER_00]: over a decade of foreign stocks underperforming U.S. markets has just turned around big time last year for a reason. [SPEAKER_00]: And I think the outperforming is going to be even bigger this year because I think the U.S. markets are going down.

[SPEAKER_00]: And as good as goal in silver did last year, it could do even better this year. [SPEAKER_00]: And the mining stocks, yeah, they went way up. [SPEAKER_00]: They can go up even more. [SPEAKER_00]: So you've got to get out of these overpriced U.S. stocks and bonds and build a portfolio ASAP. [SPEAKER_00]: this week of foreign stocks and bonds. [SPEAKER_00]: You can do it yourself by buying my mutual funds at your discount brokerage firm.

[SPEAKER_00]: You can get all the information on my mutual funds at urapak.com, uropac.com, or call up [SPEAKER_00]: you're a packed.com, speak to one of our advisors and you can transfer your account to us, get taken away from the mainstream advisor into your specific asset management and we will build portfolios for you and manage them for you of foreign equities, bonds, mining stocks,

[SPEAKER_00]: You know, things that will protect you from inflation and dollar debasement because that trade is going to gain a lot of momentum in the weeks, months and years ahead, but you don't want to wait because the longer you wait, the the the less you're going to be able to buy with your depreciating dollar. [SPEAKER_00]: So the sooner you can get going, the better. [SPEAKER_00]: And again, make sure to subscribe to my newsletter.

[SPEAKER_00]: a shift sovereign and we have a paid letter to strategic assets. [SPEAKER_00]: This is an opportunity to take advantage of. [SPEAKER_00]: Yes, I feel bad about what's going to happen to the country and I wish they were said I can do to stop it, but I can't.

[SPEAKER_00]: but at a minimum I can at least profit from it because something bad is going to happen I can either lose money or make money given that I can't change the bad I can at least change my own financial circumstances and I can help you change your financial circumstances and you can help your friends. [SPEAKER_00]: You can help your family members or your neighbors by sharing this content. [SPEAKER_00]: with other people.

[SPEAKER_00]: And again, if you liked the video, don't forget to give me a thumbs up, leave a comment, and if you're not a subscriber to this YouTube channel, and you're still listening, you better be a subscriber, because I've been talking for an hour. [SPEAKER_00]: And if you're still here, the least you can do is subscribe. [SPEAKER_00]: Bye for now.