WEBVTT 00:02.540 --> 00:08.660 All right. Good morning, Doug. We're back. It's been a week in a day since Guy Fawkes Day, also known as the 00:09.720 --> 00:12.200 election of Donald Trump. And 00:12.680 --> 00:18.480 there's some, a lot of things we're seeing that you like and we'll go through some of those, but overall impressions so far, 00:18.720 --> 00:20.140 what's, what are the big, what are the cliff's notes? 00:21.580 --> 00:27.980 I am just tickled pink that Kamala lost because if 00:28.540 --> 00:29.940 if they had won 00:30.560 --> 00:32.480 and it would have been through cheating, 00:33.760 --> 00:40.100 it would have, it would have actually heralded the collapse of the U.S. It would have been game over, man. 00:41.200 --> 00:48.520 It would have been a disaster. I'm not even sure considering the kind of people that were dealing with that would have taken over the government, 00:49.200 --> 00:52.600 whether I even would have returned to the U.S. 00:53.040 --> 00:59.440 I mean, it would, this was a really serious election from that point of view. Like I said, 00:59.940 --> 01:08.640 Kamala and the Democrats didn't win. So that's the number one consideration. And the second thing is, is that 01:09.540 --> 01:10.680 having only 01:12.480 --> 01:16.820 been like a lukewarm fan of Trump, if you would, 01:17.660 --> 01:23.400 it's that the things that he has said and the people that he has appointed so far, 01:23.560 --> 01:25.520 they're highly gratifying. 01:25.520 --> 01:33.640 I'm starting to think that it's morning in America and it may last more than six hours at this point. 01:34.220 --> 01:38.140 So I'm, I'm, I'm pretty happy. I mean, 01:38.920 --> 01:40.580 we get a full day of mourning. 01:43.680 --> 01:49.080 Is there another election in your lifetime that you recall feeling this way at? 01:49.680 --> 01:54.440 Yes, the election in Malay down here in Argentina. And so far, 01:54.440 --> 01:56.620 it's funny. I was just this morning 01:57.360 --> 02:04.300 talking to a couple of guys that lived down here. One is in Argentina in the mining business. And anyway, 02:04.880 --> 02:06.360 and we were talking about 02:07.360 --> 02:11.760 what Malay has done and what it's like in Uruguay by comparison and 02:12.440 --> 02:13.960 things like that. And 02:16.620 --> 02:22.840 I'm so super happy that Malay won, even though I hate politics and 02:23.440 --> 02:25.580 people that are involved in it, but 02:26.200 --> 02:33.720 because Malay declared himself as an anarcho-capitalist with 100% sound values. 02:34.440 --> 02:38.020 He's moving a little bit slow down here as far as I'm concerned, 02:38.960 --> 02:45.900 with not having actually told the IMF and all of Argentina's other foreign creditors to, 02:45.900 --> 02:49.920 hey, no, I plot up. Don't have the money. Sorry. 02:51.160 --> 02:56.340 You know, he hasn't done that, which is a mistake and there are other mistakes that he's making. 02:59.060 --> 03:04.980 But that's the other election that I'm as happy about. I mean, any other election in my life 03:04.980 --> 03:07.960 was I happy that Nixon beat Kennedy? 03:09.920 --> 03:15.040 Well, look, I was a freshman in college. I didn't give a damn quite frankly. 03:15.040 --> 03:18.420 I was sort of the Goldwater lost against 03:20.220 --> 03:22.560 Lyndon Baines Johnson. Oh, Jesus. 03:24.320 --> 03:29.520 Is there anything else? Well, of course, Reagan. Who was he running against? 03:29.800 --> 03:35.720 He was running against Carter again, wasn't he? Carter. I guess he was running against Carter. 03:36.380 --> 03:39.240 So I didn't have high hopes for Reagan. He turned out to be 03:39.760 --> 03:43.460 better than I anticipated. Certainly his rhetoric was a lot better, 03:44.160 --> 03:48.600 but economically, even though he deregulated, wonderful to some degree. 03:49.040 --> 03:53.200 And even though he reduced taxes, wonderful to some degree, 03:53.400 --> 03:58.620 but he just made up with it by borrowing lots and lots of money and running up the national debt, 03:59.200 --> 04:04.240 putting those taxes into the future. I don't know. This is a big deal, this election. That's my view. 04:05.200 --> 04:09.240 Yeah. Does it seem like everyone wants a radical change and they're going to get it 04:09.240 --> 04:15.300 and one form or another. I think that's true. I think the downside of 04:17.360 --> 04:21.940 what I saw in Argentina, just like we talked about this before, but the cost had gone up so much for 04:21.940 --> 04:26.060 people and it was unavoidable. I mean, the money printing went crazy toward the end of 04:26.060 --> 04:29.900 the last administration and it's like that just takes a while to get into the system and 04:29.900 --> 04:36.620 obviously it's been reduced substantially. Now it's only like 2.7 percent, but this is per 04:36.620 --> 04:42.020 month inflation. So it's the lowest it's been since he's been present, pushed it way down, 04:42.580 --> 04:49.600 but it's got to cut some of these import taxes, just to reduce the cost for the people or else 04:50.220 --> 04:56.020 it's going to be tough for them to continue. Got to cut the import taxes and he's got to 04:56.020 --> 05:01.960 cut the export taxes, which is the other thing that they idiotically have here in Argentina 05:01.960 --> 05:09.560 where it's a disincentive to produce anything and export it because they have what are called 05:09.560 --> 05:16.460 retentionis here where you can pay up to 35 percent of the value of anything you put on the boat for 05:16.460 --> 05:21.660 export that goes to the government and then the producer has to pay income taxes on 05:21.660 --> 05:27.240 whatever profits left over after giving the government up to 35. It's usually not that 05:27.240 --> 05:34.360 much, but then Malay can't do this and of course these unions here in Argentina 05:35.040 --> 05:41.120 make your life miserable and so many regulations. In fact, the two guys I was talking to this morning 05:41.740 --> 05:48.040 we were talking about the fact that here in Argentina you have to be an idiot to be in 05:48.040 --> 05:53.220 any kind of a business. It's just more trouble than it's worth, more risk than it's worth. 05:53.730 --> 06:03.250 What Argentines do is they buy dollars or they'll borrow dollars and then they'll 06:05.160 --> 06:11.300 put it in the peso market where they can get 35 percent or 50 percent interest and speculate. 06:12.420 --> 06:17.740 It's so much easier than producing things. Or you have to produce in the black market, right? 06:18.040 --> 06:22.040 I mean, is there any business that's running that isn't somehow doing it illegally? I don't 06:22.040 --> 06:25.960 think any business that's operating could be doing it with all the laws and taxes. It's impossible. 06:26.620 --> 06:35.640 No, no. That's right. Any big business down here only stays in business because the government is 06:35.640 --> 06:40.360 supporting them or subsidizing them in some way. So you've got to be in the black market, 06:40.360 --> 06:46.320 which is wonderful. That's a free market, but it's a lot of distortions and a lot of 06:46.320 --> 06:48.980 sand in the gears when you have to deal with these things. 06:49.780 --> 06:58.300 I mean, just imagine like the pent up potential of the Argentine ag sector that has to sell to the 06:58.300 --> 07:04.200 global market at 30 percent below what everyone else gets. I mean, that's crazy. 07:05.200 --> 07:13.840 Yeah, it is crazy. And one of the things that these two guys were commenting about was that 07:15.060 --> 07:22.260 in Argentina, you can get all the best cuts of meat and the best wine and so forth here, 07:22.340 --> 07:28.480 because it makes it too hard for them to export. So they export the junk meat and the junk wine 07:28.480 --> 07:34.820 to like China. And the good stuff stays here, but Uruguay, it's harder to get good cuts of meat 07:34.820 --> 07:40.700 because it's all exported. And Uruguay is doing a lot better than Argentina is right now, 07:40.700 --> 07:44.700 is the point that they made. I thought it was a well made point. 07:45.600 --> 07:49.600 Yeah, the launch that we went to last week and when I was in Buenos Aires with you, 07:50.120 --> 07:55.900 there's a large cattle producer there who owns property in both Argentina and Uruguay. And I asked 07:55.900 --> 08:00.480 him because, you know, I have a little tiny little rounding error of a cattle ranch compared to 08:00.480 --> 08:05.020 this guy. I mean, not even a rounding error, like he would forget. If this may, if my cattle 08:05.020 --> 08:08.580 disappeared, he wouldn't notice them on his land. But I asked him what the price was 08:08.580 --> 08:17.420 in Argentina and it was 35%. The beef price was 35% below what it is even in Uruguay. So it's shocking 08:17.420 --> 08:26.240 actually. Yeah, a lot of distortions in the economy that Malay has got to redouble his 08:26.240 --> 08:32.040 efforts to get to get rid of. Yeah. Yeah. So we're going to watch a couple of clips of some 08:32.880 --> 08:39.800 recent Trump policy videos that he put together. And I like these policy videos that are going out 08:39.800 --> 08:43.540 there because it has him, he's doing it in three minutes or less. And he's describing, 08:44.080 --> 08:47.220 you know, what the plan is to tackle a particular problem. And it's very, 08:47.800 --> 08:50.660 like they're very effective, I think, at communicating the ideas and making really 08:50.660 --> 08:56.760 clear what he's trying to do. Before I do that, though, I did watch this Vivek with 08:56.760 --> 09:00.080 Tucker. I don't know if you watched that interview that he did about a week ago. 09:00.660 --> 09:07.500 No, in that he just, he describes their plan to sort of dismantle the, you know, the administrative 09:08.640 --> 09:13.640 state. And it was very effective. And I heard him mention the first time I've heard anyone 09:13.640 --> 09:17.980 else mention this. But I was even tempted to bring it up in our last conversation we had with 09:17.980 --> 09:24.960 Michael was, you know, that Chevron deference case that the Supreme Court ruled was unconstitutional 09:24.960 --> 09:31.460 where essentially these, the, you know, the Department of Ag and the EPA and all these agencies 09:32.800 --> 09:39.580 could formulate their own regulations that had the power of law. And that, you know, the 09:39.580 --> 09:44.260 Supreme Court ruled earlier this year that it had to be done by Congress, by people that are 09:44.260 --> 09:51.280 elected. And Vivek made, brought that up and said that gave them a legal basis for saying 09:51.740 --> 09:56.960 all of these, all of what these regulatory bodies are doing is actually unconstitutional. 09:57.240 --> 10:03.700 It's absolutely illegal. And so we've been following the law. We have no choice but to 10:03.700 --> 10:08.000 shut these things down. And I was really happy to hear that argument because it seems like, 10:08.080 --> 10:11.580 as I'm like, no one's even brought up this, this huge case that was going to overturn it 10:11.580 --> 10:19.880 and make all the SEC's regulations illegal. Oh, it would be so wonderful. I mean, 10:19.880 --> 10:27.200 look, most people are unaware of the fact that there are 100,000 plus employees 10:27.200 --> 10:33.700 in the Department of Agriculture. And all they do is make it harder for farmers to produce at 10:33.700 --> 10:41.640 great expense. And this is true all these things like the FDA, which Bobby Kennedy is going to 10:41.640 --> 10:48.040 try to tear apart. They should rename it the Federal Death Authority, because it, it, 10:48.040 --> 10:54.900 it kills more people every year than the Defense Department does in the typical decade. I mean, 10:55.020 --> 11:01.680 it's got to go. I mean, all these things have to be totally taken apart. And these horrible people 11:01.680 --> 11:09.280 in the Democratic Party, they say, our democracy, it's not our democracy, it's their bureaucracy. 11:09.740 --> 11:15.620 And it's got to be torn apart. Yeah. Yeah. So I think when people want to Trump, 11:15.620 --> 11:21.600 I'm optimistic that Trump will do it, not because he understands these things from a philosophical 11:22.100 --> 11:28.520 or an ideological point of view, but because they made his life so miserable the last four years, 11:28.660 --> 11:37.000 eight years, actually, that, you know, he wants revenge. And he said that when he goes after 11:37.000 --> 11:43.520 somebody that hurts him, he'll hurt him 10 times as bad. So it's like a personal vendetta, 11:44.220 --> 11:52.420 not ideological, but, but it was no matter what his motivations are, but play, play these things. 11:52.420 --> 11:56.820 They were, I thought they were very good. And I don't think everybody's watched them. 11:57.500 --> 12:04.920 All right. So here's the, here's the first one. This is around the LGBT, LGBT agenda. Here we go. 12:05.000 --> 12:10.400 We'll sign a new executive order instructing every federal agency to cease all programs 12:10.400 --> 12:17.300 that promote the concept of sex and gender transition at any age. I will then ask Congress 12:17.300 --> 12:23.820 to permanently stop federal taxpayer dollars from being used to promote or pay for these procedures. 12:24.200 --> 12:29.740 The Department of Justice will investigate big pharma and the big hospital networks to determine 12:29.740 --> 12:35.500 whether they have deliberately covered up horrific long-term side effects of sex transitions 12:35.500 --> 12:43.400 in order to get rich at the expense of vulnerable patients. We will promote positive education 12:43.400 --> 12:49.440 about the nuclear family, the roles of mothers and fathers, and celebrating rather than erasing 12:49.440 --> 12:54.940 the things that make men and women different and unique. I will ask Congress to pass a bill 12:54.940 --> 13:01.420 establishing that the only genders recognized by the United States government are male and female, 13:01.420 --> 13:08.120 and they are assigned at birth. I will sign a new executive order instructing every federal agency. 13:08.600 --> 13:13.960 Yes, I was repeating. Yeah, that's pretty clear. And it's hard to watch as a parent to watch that 13:13.960 --> 13:22.000 and think that's not all great. Oh, no, it's, it's, it's fantastic. And what I liked about it 13:22.000 --> 13:29.580 was that he's not talking about doing this in a dictatorial way. It's all within the bounds 13:29.580 --> 13:38.300 of the U.S. Constitution, passing a law, cutting off government spending on these things. This is 13:38.300 --> 13:44.700 all wonderful. And if people, and if people were hiding, you know, the long-term negative 13:45.440 --> 13:51.000 results of, of these procedures so that, you know, they weren't able to get informed consent, 13:51.620 --> 13:56.020 then that's good too. That's fraud, right? So this is all, it's all makes sense. You're 13:56.020 --> 14:00.300 right. It is, it is all constitutional. And there should be criminal prosecutions 14:00.300 --> 14:04.860 on the people that were involved in this type of thing. And I'm sure eventually, 14:05.400 --> 14:12.720 because of RFK, he's going to get into Fauci and hopefully Fauci will go to jail and all his assets 14:12.720 --> 14:21.000 will be compensated, will be confiscated as well. I mean, this is an actual war. And I don't believe 14:21.000 --> 14:27.980 taking any prisoners in this kind of war. Yeah. And I think that's the, the one difference you can 14:27.980 --> 14:34.300 definitely say for sure between Trump today and Trump in 2016 is I think that he has probably 14:34.300 --> 14:42.260 recognized that it is a war, that it is serious. So. And the other thing with Trump is that, 14:42.400 --> 14:48.760 you know, the people he surrounded himself in his first term were horrible people. There were 14:48.760 --> 14:56.060 status. They were, you know, they were totes. They were, you know, people like Pompeo. And 14:57.740 --> 15:03.180 you know, that's, he showed very bad judgment. I don't think he's got good judgment about people, 15:03.300 --> 15:09.240 but the fact that he's, the people he's got around him now, I'm 15:09.240 --> 15:14.780 quite optimistic actually that they're serious. I don't know if it's been confirmed, 15:14.780 --> 15:19.340 but like Marco Rubio and the Secretary of State, what do you think about him? 15:19.360 --> 15:25.880 Oh, I think that's, that's, that's bad news. I mean, you know, Marco doesn't seem to have 15:25.880 --> 15:32.440 a background and he's kind of a toadie. So yeah, he's still making mistakes. Well, on the, on the 15:32.440 --> 15:38.240 bright side, Trump is kind of loyal to people who supported him. But okay, just because they're 15:38.240 --> 15:42.740 loyal, he's loyal because they supported him, doesn't mean they're good choices. So. 15:43.940 --> 15:51.000 Yeah, there is, there is definitely a, at least in the Defense Department and Secretary of State, 15:51.160 --> 15:57.920 if, if it does end up being Rubio, which I haven't seen confirmation of, both the guy that got a 15:57.920 --> 16:05.180 Secretary of Defense and Rubio are definitely very anti-Iran, at least. And so, you know, 16:05.200 --> 16:08.920 but the thing is like, Trump does make the decisions, right? So whether or not we go to 16:08.920 --> 16:18.220 war, it's going to be him. That is the big problem. It's that Trump is almost a Zionist, where 16:18.220 --> 16:25.740 you know, Israel says attack Iran and he wants to do that. That's Israel's problem. You know, 16:25.740 --> 16:31.660 I wish them well, but that's your problem. Solve it. We don't want to get involved in 16:32.440 --> 16:39.060 another war fighting Iran, just because, because you don't like Iranians. Okay, 16:39.160 --> 16:41.640 they're on the other side of the world. They can't do anything. 16:42.960 --> 16:47.880 Right. Right. So, but these things, and there's another video on domestic policy, 16:47.880 --> 16:54.820 and it's hard to not love these. So here's, this one is about education. So here we go. 16:55.550 --> 17:01.800 Because the colleges and universities have been exploding, and I mean absolutely exploding, 17:02.280 --> 17:09.340 while academics have been obsessed with indoctrinating America's youth. The time has come to 17:09.340 --> 17:14.480 reclaim our once great educational institutions from the radical left, and we will do that. 17:15.040 --> 17:21.480 Our secret weapon will be the college accreditation system. It's called accreditation 17:21.480 --> 17:27.820 for a reason. The accreditors are supposed to ensure that schools are not ripping off students 17:27.820 --> 17:33.400 and taxpayers, but they have failed totally. When I return to the White House, I will fire the 17:33.400 --> 17:39.860 radical left accreditors that have allowed our colleges to become dominated by Marxist, 17:40.040 --> 17:46.380 maniacs and lunatics. We will then accept applications for new accreditors who will 17:46.380 --> 17:52.920 impose real standards on colleges once again and once and for all. These standards will include 17:52.920 --> 17:58.900 defending the American tradition and Western civilization, protecting free speech, eliminating 17:58.900 --> 18:06.380 wasteful administrative positions that drive up costs incredibly, removing all Marxist diversity, 18:06.660 --> 18:13.480 equity and inclusion bureaucrats, offering options for accelerated and low cost degrees, 18:13.480 --> 18:20.020 providing meaningful job placement and career services, and implementing college entrance and 18:20.020 --> 18:25.340 exit exams to prove that students are actually learning and getting their money's worth. 18:25.860 --> 18:30.520 Furthermore, I will direct the Department of Justice to pursue federal civil rights cases 18:30.520 --> 18:37.120 against schools that continue to engage in racial discrimination and schools that persist in 18:37.120 --> 18:43.300 explicit unlawful discrimination under the guise of equity will not only have their 18:43.300 --> 18:51.660 endowments taxed, but through budget reconciliation, I will advance a measure to have them find up to 18:51.660 --> 18:57.720 the entire amount of their endowment. A portion of the CIS funds will then be used as restitution 18:57.720 --> 19:05.780 for victims of these illegal and unjust policies that hurt our country so badly. Colleges have 19:05.780 --> 19:11.480 gotten hundreds of billions of dollars from hardworking taxpayers and now we are going to get 19:11.480 --> 19:19.320 this anti-American insanity out of our institutions once and for all. We are going to have real 19:19.320 --> 19:26.160 education in America. Thank you. You've got to imagine these DEI departments are freaking out 19:26.160 --> 19:33.420 at this point. Oh yeah because some of these big universities I understand have 50 or 60 19:33.420 --> 19:39.860 just for one university DEI deans and these people should be fired post-haste. 19:41.440 --> 19:48.080 But you know one question I have is that accreditation bureaus, 19:49.680 --> 19:56.200 well first of all most accreditation my understanding is for colleges and universities 19:56.200 --> 20:05.760 occurs at a state level not at a federal level and does the U.S. government actually control 20:06.360 --> 20:13.240 the accreditation process or accreditation bureau funding or whatever even at a national level, 20:13.380 --> 20:17.520 forget about the state level. So I wonder if he's overreaching there. I mean I 20:17.520 --> 20:21.120 thoroughly approve what he wants to do but I wonder if he's overreaching. 20:21.780 --> 20:26.800 Well here's the I asked chat GTP and they say I asked does the federal government 20:26.800 --> 20:31.960 accredit universities. It says no in the United States the federal government does not directly 20:31.960 --> 20:37.600 accredit universities instead accreditation is handled by private accrediting organizations 20:38.240 --> 20:42.100 that are recognized by the U.S. Department of Education and the Council for Higher 20:42.100 --> 20:48.500 Education accreditation. These accrediting bodies assess schools and programs to ensure 20:48.500 --> 20:53.900 they meet certain standards of quality and rigor. The DOE's role is to recognize accrediting 20:53.900 --> 20:58.940 agencies that meet specific criteria which allows accredited institutions to be eligible 20:58.940 --> 21:05.420 for federal funding. So yeah I guess he because through the Department of Education 21:06.200 --> 21:12.400 they had these organizations have the right to hand out accreditation then I guess they 21:12.400 --> 21:21.280 could choke it off at that level. I guess and of course he can cut off hopefully federal funding 21:21.920 --> 21:27.700 to the any accreditors as well as to any universities but there are a lot of student 21:27.700 --> 21:35.120 loans ought to be stopped. The Department of Education should be abolished post-haste. 21:35.560 --> 21:41.440 He didn't mention that but maybe that's on the agenda and maybe that's something that 21:41.440 --> 21:49.380 Vivek and Elon are thinking about I'm sure they are. Yeah Vivek said specifically in that 21:49.380 --> 21:53.980 Tucker interview that the Department of Education would be eliminated. Yeah that's 21:53.980 --> 22:02.160 absolutely wonderful. So I'm just wondering what and you mentioned when we were chatting before 22:02.160 --> 22:13.360 before we turn the tape on that we got a bit of pushback from various viewers that didn't like 22:13.360 --> 22:19.400 some of the things we were saying. Yeah well we always get pushed back no matter what we say it's 22:19.400 --> 22:24.140 one side or another. I mean we're talking the last one we did with Michael, Michael Yan 22:24.720 --> 22:30.760 and you know we got people that were mad because we talked about Zionists and we're mad at 22:31.400 --> 22:39.240 and I'm also mad because you and Michael both mentioned that you're friends with some Jews you 22:39.240 --> 22:43.800 have Jews that are friends. So like both sides of the spectrum I can't believe you'd make it about 22:43.800 --> 22:48.720 Zionists pissed off and then people I can't believe you'd associate with Jews pissed off. 22:49.120 --> 22:51.960 You know what I mean? So like you get both sides of the spectrum on all things 22:53.420 --> 22:57.520 but there were some interesting people were really really bothered by the idea 22:57.520 --> 23:02.480 that we said that the US was left leaning. They were really bothered by that idea and we went 23:02.480 --> 23:05.620 through this with Michael Moore stuff and and said why we thought it was the case 23:05.620 --> 23:11.720 and I can read some of their two comments. I'll keep out the longer ones but one is 23:12.240 --> 23:17.880 Doug and Matt's Michael Moore list discussion was excellent but it proved to draw the wrong 23:17.880 --> 23:23.120 conclusions. Where was the error I wonder is one question and then one comment and the second 23:23.120 --> 23:29.080 one was we actually did know who was going to win. It wasn't close at all not even remotely 23:29.080 --> 23:34.780 surprised the quote average American is not left wing. This is bizarre commentary. 23:36.120 --> 23:41.980 Well let me take them in reverse order. You have to define these words left wing and right 23:41.980 --> 23:48.620 wing. What do they mean? I mean they're like floating abstractions. My guess this is this 23:48.620 --> 24:01.680 last commentator is a little bit confused. It's the first well god there were 20 things 24:01.680 --> 24:09.720 that Michael Moore mentioned that and you researched them and the average American 24:09.720 --> 24:17.620 is all four things like yeah social security and spending money and I don't remember what all 24:17.620 --> 24:24.100 more gun control more gun control more people wanted I mean 58% of people wanted more gun control 24:24.980 --> 24:34.440 72% believe the climate crisis was real 71% approve of labor unions 79% of us insist the rich must 24:34.440 --> 24:45.600 pay more in taxes 76% of us want a much higher minimum wage yeah 73% of the country want student 24:45.600 --> 24:53.480 debt loan really loan debt relief that's right all these things so yeah the average American 24:53.480 --> 25:01.720 has been regardless of what this person that feels in his heart of hearts has been totally corrupted 25:02.710 --> 25:11.240 by these these crazy collectivist and statist ideas which can but you know the right wing 25:11.240 --> 25:17.200 so-called has plenty of stupid collectivist and statist ideas as well and the main difference 25:17.200 --> 25:24.740 it seems to me between the context of the left wing and the right wing is leftists are 25:25.460 --> 25:33.180 globalists and internationalists and most Americans are not and the right wing are 25:33.180 --> 25:41.780 nationalists which most Americans are so I think that's why this viewer said that no we're right 25:41.780 --> 25:47.620 to say yes they're right they're nationalists but look this is like during the Weimar Republic 25:47.620 --> 25:55.760 in Germany when the Nazis were were battling the communists in the streets and they were 25:55.760 --> 26:03.960 both socialists that are very similar economic ideas it's just the communists were internationalists 26:03.960 --> 26:11.060 and the Nazis were nationalists that's what the it's the same difference here in the US right now 26:11.660 --> 26:17.620 and what what what do you mean by when you when we say America has socialist ideas 26:18.260 --> 26:20.820 what's the opposite of that I guess 26:24.280 --> 26:31.660 total free mines and free markets and it wasn't too long one of the things I liked in 26:31.660 --> 26:40.540 Suzane for I answered that that Trump said was he wanted to his exact words where we want to 26:41.440 --> 26:46.540 uphold America the American culture and the values of western civilization 26:47.260 --> 26:52.660 now it wasn't so long ago that nobody would dream of talking about western civilization 26:52.660 --> 27:00.100 in a positive way in fact you know all the idiots on campus had these chants hey hey ho ho 27:00.100 --> 27:08.720 western civ has got to go and this has been reflected in what kids are taught in school 27:09.110 --> 27:18.620 and there were there were a 12 really 13 characteristics of western civilization 27:19.130 --> 27:24.480 that I listed I or did I list it in one of our previous thoughts and there are things like 27:25.410 --> 27:32.720 free thought which has been replaced by political correctness and thought control and 27:33.420 --> 27:41.300 uh all these other free speech cancel culture and being afraid to say anything 27:41.300 --> 27:48.820 that might be offensive to people free markets uh well we don't have free markets in the US 27:48.820 --> 27:54.380 we have a fascist economy where everything is regulated and if you do it it's taxed 27:54.380 --> 28:01.360 that's not a free market the idea of limited government uh you know people talk about that 28:01.360 --> 28:06.640 but it's not very limited the state is everywhere with its taxes and regulations 28:06.640 --> 28:14.060 and of course inflation distorts everything the idea of individualism has been washed away 28:14.060 --> 28:19.260 people like to think of themselves as rugged individuals like in a western movie but that's 28:19.260 --> 28:27.780 just BS the fact is is that identity politics which is widely promoted you're not an individual 28:27.780 --> 28:33.900 you're a member of a race primarily or a member of a gender primarily 28:35.980 --> 28:42.720 and individualism is viewed as anti-social the sixth reason I came up with was rationality 28:42.720 --> 28:49.120 you're not supposed to be rational that's cold-hearted it's mechanical and it's white 28:49.440 --> 29:00.900 if you're you know you know mathematics is white racist yeah racist yeah I mean the ideas of science 29:00.900 --> 29:11.020 and logic have been tossed out uh in fact you know the idea of science itself they don't talk 29:11.020 --> 29:16.680 about these idiots don't talk about science which is an enterprise to discover things 29:16.680 --> 29:23.900 they talk about the science which is like a a discovered thing that you know can't be altered 29:24.580 --> 29:28.520 I mean I don't know if I want to go through the rest of these things on the list but 29:28.520 --> 29:34.040 the fact is no I don't have much faith in my fellow Americans and 29:35.680 --> 29:43.380 I'll give you the proof for it it's that roughly roughly half of the country what 71 75 million 29:43.380 --> 29:50.520 whatever it was uh people and of course there were some fraudulent votes I guess but voted for 29:50.520 --> 29:57.340 Kamala and voted for Biden before that and voted for people like McGovern before that and all these 29:57.340 --> 30:03.640 other horrible left-wing presidents so yeah half the country are basically basically 30:04.420 --> 30:10.960 oh I hate to say this the enemy but that half of the country sees us as being the enemy 30:11.660 --> 30:17.700 uh if you believe in the values I just mentioned yeah and well and I think the Overton window 30:18.700 --> 30:25.580 sorry no I'm sorry go ahead the Overton window has shifted so much what's considered socialist 30:26.360 --> 30:32.180 in our minds is not considered socialist at all in the minds of your average American you know 30:32.180 --> 30:38.620 where they they look at things like the you know their particular goody stream from the government 30:38.620 --> 30:44.900 you know they might see is like being serving a useful purpose like Social Security no one is 30:44.900 --> 30:50.420 willing to consider giving up that even though because they paid into it their whole life it was 30:50.420 --> 30:55.580 a tax they got they got taxed on it and there was some there was the government defrauded all 30:55.580 --> 31:00.140 of those people who did it this idea that there was but they were defrauded but they won't give 31:00.140 --> 31:06.360 it up they want to keep the fraud going because they will benefit from it and so no one's 31:06.360 --> 31:11.280 willing to even consider these things which are these are socialist in nature I mean having a shared 31:11.280 --> 31:16.180 pension plan that the word the daddy state is going to take care of you in old age is like 31:16.180 --> 31:27.000 that's socialism yeah and it's worse than that because some years ago there was a 31:27.000 --> 31:37.460 a proposition put forward that Social Security shouldn't invest in government debt which is all 31:37.460 --> 31:43.560 a fraud I mean it's basically nothing their IOU is nothing on the part of a bankrupt government so 31:43.560 --> 31:48.000 the assets of Social Security which are government bonds that's going to blow up 31:48.480 --> 31:55.900 but it was put forward well maybe everybody ought to have an individual Social Security 31:55.900 --> 32:04.620 Sagan's account where you could invest in real assets like stocks but no people didn't like that 32:04.620 --> 32:11.960 the average American didn't like that so it was shot down well anyway if Trump would have ran 32:11.960 --> 32:16.240 saying he was going to interfere in any way with Social Security or Medicare or Medicaid 32:16.920 --> 32:23.680 like he wouldn't have won no and frankly Social Security is going to blow up and 32:23.680 --> 32:32.060 it's going to be a catastrophe for everybody so what what what he should do if he asked me 32:32.060 --> 32:37.240 and that's not going to happen I promise you is that you know there's some people that have been 32:37.240 --> 32:43.440 defrauded and have relied on it okay that's kind of like not their fault that they were 32:43.440 --> 32:51.460 stupid so people over age 50 get their Social Security benefits but younger people don't 32:52.060 --> 32:59.880 end the story it ends for people under let's arbitrarily 50 and Medicare hey listen if you're 32:59.880 --> 33:07.820 over 65 and you're in bad health I'm very sorry I'm very sorry but it's up to you to take care 33:07.820 --> 33:12.660 of your body like it's up to you to take care of your car so we don't have the government 33:12.660 --> 33:17.040 taking care of your car or taking care of your house they shouldn't take care of your body 33:17.040 --> 33:23.960 either it's a giant swindle a fraud and even worse than that is Medicaid I mean if you're young 33:24.420 --> 33:31.120 and you can't afford a medical thing you know in the 19th century there were lots and lots of 33:31.120 --> 33:38.420 beneficial societies they were called that specialized in helping people that were worthy 33:38.420 --> 33:45.760 of help and needed help and on a local level you could tell who is a bum and frankly they 33:45.760 --> 33:50.500 ought to stay in the gutter or whatever I don't care and who should be helped 33:51.460 --> 33:57.100 but that was all washed away by the Roosevelt administration where daddy government will 33:57.100 --> 34:02.520 take it so all these things should be abolished but Trump can't talk about any of that it 34:02.520 --> 34:05.780 can't talk about it because Americans wouldn't accept it that's the thing because there's 34:05.780 --> 34:09.520 because they have because they don't understand how much of this they take for granted like 34:09.520 --> 34:14.900 like a fish swimming in water you know they're citizens floating in socialism and don't even 34:14.900 --> 34:23.000 understand that they totally demand you know this from the state yeah they think that social 34:23.000 --> 34:29.480 security and Medicaid and Medicare and welfare there's lots of welfare in addition to that they 34:29.480 --> 34:35.640 think this is part of the cosmic firmament but it should all if these things were washed away 34:35.640 --> 34:44.120 totally uh I mean America would boom it really would and as much as I love Argentina 34:45.380 --> 34:51.960 yeah I'd definitely move back to America but it ain't gonna happen well not only that not 34:51.960 --> 34:56.900 only would it boom but the costs of all these things that have become so incredibly expensive 34:57.420 --> 35:03.920 medical care in the U.S. would collapse like it's like the costs are related to the 35:03.920 --> 35:09.580 government involved in you know providing this benefit for the people that the people demand 35:10.430 --> 35:21.020 yeah yeah so it's really nice what Trump and Elon and Vivek are planning on doing it's wonderful 35:21.610 --> 35:27.500 but they're not going far enough but hey listen I'm not unhappy I mean I'll take what I can get 35:28.680 --> 35:31.480 yeah I totally agree with you and what just one other comment about 35:31.480 --> 35:38.300 with those 12 values is the is the individualism value and like that's to me if there's one thing that 35:39.060 --> 35:44.400 if there's one among those 12 it's that one that stands out it's like the individual is where 35:45.180 --> 35:50.940 you know the the rights are where the power it should be but but people forget in all of that 35:50.940 --> 35:56.900 you know being a is the responsibility that comes with that that you have you as an individual 35:56.900 --> 36:01.920 have total responsibility for your life you are responsible for making sure that you save for your 36:01.920 --> 36:07.460 future you're making responsible make you know if you go into debt I mean it's you and the idea that 36:07.460 --> 36:15.720 you'd be rescued by anybody by daddy is like it just and I think that is the that is the one 36:15.720 --> 36:22.520 that always sticks with me is like I feel like most people today shirk a lot of the individual 36:22.520 --> 36:27.400 responsibility that they have for their lives and that's how the US has gotten into this mess 36:28.520 --> 36:34.800 yeah and of course elements in our culture have made it worse because hey you're not an individual 36:34.800 --> 36:43.740 you're you're a white male in fact worse you're a member of the patriarchy and or or you're a black 36:43.740 --> 36:50.720 or you're a female is it's actually poisonous it's anti-individualistic you know people 36:50.720 --> 36:57.640 watch western movies and imagine they're you know the the sheriff or john greener the hero but they're 36:57.640 --> 37:05.300 not they're not definitely not um all right and there's a couple other comments from people um 37:06.040 --> 37:12.600 let's see uh this guy said he said I felt like Doug blew a mental gasket somewhere 37:12.600 --> 37:18.540 when he can't see how to deport the people when it's really simple they can go willingly or by 37:18.540 --> 37:26.540 force one way or the other you will go I think maybe I you know the point that I think you're 37:26.540 --> 37:31.080 trying to make there was you have to see they have if you're going to deport them or repatriate them 37:31.080 --> 37:38.040 as Michael yon is saying better word better word yeah it really is yeah it's this is much better 37:38.040 --> 37:43.880 word I think in that scenario you they have to have a receiving country that will receive them 37:43.880 --> 37:49.840 and you know if you're if you're flying a plane full of people that are being deported from the U.S. 37:50.420 --> 37:55.640 all these Venezuelan gangs for instance and you can't get permission to land at a Venezuelan 37:55.640 --> 38:00.720 airport what do you do so there there are real practical problems here it's not just by force 38:00.720 --> 38:04.180 or are we gonna I guess we'd have to go to war with Venezuela to get them to accept these 38:04.180 --> 38:10.040 people when there are practical problems and that's assuming you can identify them as being 38:10.040 --> 38:16.480 Venezuelans because what's going to happen with many I think of these 10 or 20 million 38:16.480 --> 38:23.200 people that are here illegally and collecting welfare and have driver's licenses in the U.S. 38:23.220 --> 38:30.820 and god knows what else is that they'll have discarded any evidence of what country they're 38:30.820 --> 38:38.060 from and you can say you know what I think you're a Nigerian and I'll say hey prove it 38:38.060 --> 38:43.020 and if he doesn't have a Nigerian passport and he doesn't have a how are you how are you gonna 38:43.020 --> 38:48.540 when he when he arrives at the border in Nigeria you're gonna turn him away and that's the true of 38:48.540 --> 38:56.300 just about every other country in the world so I'm saying yeah they should be exported or 38:56.300 --> 39:03.780 repatriated but easier said than done you know so how are you gonna how are you gonna do that 39:04.780 --> 39:09.740 I mean the number one way is because I think we talked about in the last episode was that you got a 39:09.740 --> 39:15.120 you got to cut off the funding to them so their support system goes away so they don't have the 39:15.120 --> 39:21.680 obvious economic incentive to be in the U.S. and then make them feel unwelcome like that's what 39:21.680 --> 39:29.400 I do listen if you really want to be radical about these things if you know they're not Americans 39:29.400 --> 39:34.300 they can't prove they're Americans and if they burn their foreign identification papers so you 39:34.300 --> 39:41.960 can't send them away so well you don't have to go home because we don't know where your home is but 39:41.960 --> 39:48.760 you can't stay here so we'll send you to Guantanamo and we'll give you a cut and three cheap meals 39:48.760 --> 39:54.900 a day until you remember where you came from you know yeah we'll put you in touch with 39:54.900 --> 40:00.300 your consulate and they can make sure that you have the proper papers so you can go home 40:00.860 --> 40:05.080 I mean there are things that can be done but it's not going to be easy and there'll be 40:05.620 --> 40:10.580 there'll be there'll be riots just like in the Weimar Republic between the Nazis and the commies 40:11.460 --> 40:19.120 yeah and there's also just the it's going to create an environment you'd assume 40:19.680 --> 40:23.400 at least on some level where there's going to be let me see your papers 40:23.400 --> 40:30.780 wherever you go if this right that's that's right that's right and because we don't believe in 40:31.480 --> 40:36.560 discrimination in this country I believe in discrimination something that every individual 40:36.560 --> 40:43.180 should do hopefully on rational grounds most discrimination is irrational grounds like race 40:43.180 --> 40:50.380 and so forth but uh yeah because we don't believe in discrimination your papers 40:50.380 --> 40:56.980 your papyrin bitter is what's going to have to be us of Americans yeah right and I'm not looking 40:56.980 --> 41:01.900 forward to that part honestly but you know if you really want to get them out you do have to have 41:01.900 --> 41:06.400 some of that I mean if that's your only if that's your number one objective to get them out then 41:06.400 --> 41:13.100 there's going to have to be that kind of tight policing lots of checks and uh lots of logistical 41:13.100 --> 41:18.260 problems with making it happen and the problem is once you set up a bureaucracy that's capable 41:18.260 --> 41:24.200 of doing that these bureaucracies are like as they say self-licking ice cream cones and you can't get 41:24.200 --> 41:30.600 rid of them I mean they're they're really hard setting up another bureaucracy for God's sake 41:31.220 --> 41:36.920 so the enemy is the state here people don't seem to understand that it's not your friend 41:36.920 --> 41:42.460 just because we have people we like in in in the state it doesn't make it your friend 41:42.460 --> 41:49.140 for God's sake this is the mistake that these these people are are making they think it's it's 41:49.140 --> 41:54.960 now it's our friend no it's not your friend right and that's as I said in our last episode two 41:55.520 --> 42:02.580 there were I liked the fact that one month ago there were 75 I wasn't alone there were 75 42:02.580 --> 42:06.480 million Americans that believed as I did that the state was their number one enemy 42:07.360 --> 42:13.680 and now they embrace it and um that's you know that's a concern because that's not that we don't get 42:13.680 --> 42:21.360 good actions from the state if when there's an embracing the state like that yeah exactly so well 42:22.480 --> 42:30.500 at least for the moment it's morning in America before the economy collapses and you know the 42:30.500 --> 42:36.980 thing is is that especially if Trump puts on these duties to punish foreign countries 42:37.480 --> 42:44.640 that could bring on a deflationary collapse around the world and it's that the smooth 42:44.640 --> 42:53.100 holy tariffs in 1930 uh brought were a major element in making the depression as bad as it was 42:53.100 --> 43:01.000 but international trade is much much greater uh in relative or absolute terms than it was back then 43:01.000 --> 43:07.940 so if Trump does that with these duties which is in effect putting ourselves under embargo 43:08.800 --> 43:15.960 which can't get those things now they're too expensive uh so that's a stupid idea 43:16.900 --> 43:20.500 yeah and I mean it didn't just cause the depression in the US I mean it caused 43:20.500 --> 43:25.980 essentially a global depression global depression yeah that's that's that's right 43:27.640 --> 43:35.860 but maybe he'll apologize who knows what he's gonna do because it is as good as things look 43:35.860 --> 43:42.280 so far like with these last two things that we just uh he doesn't have a philosophical core 43:42.280 --> 43:51.760 and I'm and I don't know if Vivek and Elon and Tulsi Gavrid is you know a smart but but she's a 43:51.760 --> 43:58.800 socialist she's a welfare status she's never ever talked about domestic social policies only 43:59.700 --> 44:06.640 foreign policies not getting in wars wonderful but um I don't know listen 44:07.940 --> 44:15.480 it it ain't over till it's over and it ain't over yet yeah well and that's the good news because it 44:15.480 --> 44:20.760 would have been game over as you said if Kamala had been at one so that that's at least the game 44:20.760 --> 44:27.300 continues a little longer and listen we always like to look at the bright side and there that's 44:27.300 --> 44:33.680 a definite bright side yeah okay just two last things but someone asked because uh about our 44:33.680 --> 44:40.720 last one and one has to do with uh interest rates and that you said that interest rates in America 44:40.720 --> 44:48.180 will go above 1980s levels where they got in the you know mid teens um and he says I thought given 44:48.180 --> 44:53.780 the US's debt burden they cannot crank the rates higher I thought they were going to bring it to 44:53.780 --> 45:01.980 zero and inflate their way out of the problem what is what's he missing he thinks that the 45:01.980 --> 45:09.160 Federal Reserve actually controls interest rates they do on a short term basis uh there's a number 45:09.160 --> 45:17.260 of ways they can do that but the bond market is well it's trillions of dollars and the only way 45:17.260 --> 45:25.740 that they could reduce long-term interest rates is by the Fed buying bonds by bonds interest rates 45:25.740 --> 45:32.780 go down sell bonds interest rates go up it's the way it works so bond buyers no matter who they are or 45:32.780 --> 45:40.220 where they are if they see inflation running at 10 or 15 or 20 percent which with all the money 45:40.220 --> 45:48.300 printing going on is very likely uh they're not going to buy bonds uh currently going at what 45:48.940 --> 45:53.900 10 years they're going for foreign change or something like that they're not going to buy 45:54.580 --> 46:01.980 so interest rates long-term interest rates will go up as a result of inflation and also 46:02.700 --> 46:09.000 people are going to start to see wait a minute the US government is bankrupt uh you don't want to buy 46:09.000 --> 46:14.900 the bond of a bankrupt entity that can only pay the bond off by printing more money which gets you 46:14.900 --> 46:22.120 back into the inflation problem so uh I don't know where interest rates are going exactly 46:22.680 --> 46:28.160 but they've been going down for 40 years and they're headed back up because we're dealing 46:28.160 --> 46:35.700 with a a bankrupt entity that can only rent money and what happens if the I can take 46:35.700 --> 46:40.500 short rates short rates down to zero down to zero again yeah they can do that because they can 46:40.500 --> 46:46.740 lend the banks money the Fed can lend the banks money at a quarter of a percent and then the 46:46.740 --> 46:54.420 banks can relend it a short term I know it's so you're missing something here what happens if the 46:54.420 --> 47:01.020 if the Fed does buy these 10-year treasuries uh or the you know 30-year bond I mean what what happens 47:01.020 --> 47:06.860 because you said if uh basically other buyers step away from the market these things must be bought 47:06.860 --> 47:12.340 because we run deficits then the Fed would buy them what the Fed could do that keep 47:12.340 --> 47:17.800 interest rates lower but then how would what's the outcome of that well what happens the actual 47:17.800 --> 47:23.980 mechanism is when the Fed buys bonds whether it's from the government or from somebody in the market 47:25.500 --> 47:30.580 the government or somebody else in the market gets credited at a commercial bank 47:30.580 --> 47:37.860 with federal reserve notes which are created to buy those bonds now you have a billion 47:37.860 --> 47:43.920 dollars for that bond in the bank now what's the bank going to do with it well the banks run on a 47:43.920 --> 47:50.640 fractional reserve system which is a fraud and they can lend that money out again and again and 47:50.640 --> 48:00.960 again so it's because when the Fed buys an asset remember the key it deposits the seller 48:00.960 --> 48:08.280 government or otherwise federal reserve notes new federal reserve notes in a commercial bank 48:09.090 --> 48:14.960 which is how they get into society so that's the mech that's really the mechanism for money printing 48:15.680 --> 48:22.140 that's the mechanism and it's accelerated by the fractional reserve system by the banks 48:22.140 --> 48:28.860 who now have that money and can lend it numerous times that's another whole kettle of worms we 48:28.860 --> 48:36.300 can talk about so yeah it's just so we we talk about the risk of the like the 10-year treasury 48:36.300 --> 48:42.520 yield is is currently 4.34 so that rate I think it is I think that's it's close to that 4.34 48:44.020 --> 48:50.160 the that is kind of like the standard like it's been the kind of the default that people would 48:50.160 --> 48:54.360 use like that you know the price of money I think the 10 years it's like the centerpiece 48:54.360 --> 49:03.540 of the global economy and that at 4.34 percent people are already judging it more risky than other 49:03.540 --> 49:09.000 thing other assets for instance the Chinese which I don't think many Americans trust the 49:09.000 --> 49:15.480 Chinese but their 10-year bond is at 2.12 percent yield which means you know people are willing 49:15.480 --> 49:21.500 people consider loaning to the Chinese government at this stage at half the risk 49:21.500 --> 49:28.460 essentially of the U.S. government already well I don't want the bonds of any government 49:28.460 --> 49:37.480 right no no 100% 100% okay so so this is describing the inflationary scenario so the way we get out 49:37.480 --> 49:43.580 of this in an inflationary way and you know that and that's when the U.S. doesn't have control 49:43.580 --> 49:49.720 over those rates okay so that's the next question was relating to a comment that you made 49:49.720 --> 49:52.820 when I asked you I said well hi is there any way out of this and you said 49:53.480 --> 49:59.680 we should default on the debt and can you talk more about the implications of that like what does 49:59.680 --> 50:11.020 that mean if we did that yeah I mean the 30 what is it 35 it goes up 36 now 36 yeah and it's gonna 50:11.020 --> 50:18.380 head higher and higher faster and faster uh everybody knows that can never be repaid okay 50:19.460 --> 50:24.860 so the problem with it is is that if it's just going to be serviced 50:27.160 --> 50:31.480 if it's just going to be serviced it's going to turn 50:31.480 --> 50:39.460 the next generation of Americans into serfs to serve to services gigantic debt 50:39.460 --> 50:46.040 forget about paying it back and incidentally it's more than 36 or whatever it is there's all 50:46.040 --> 50:52.520 kinds of other debts that are not acknowledged and not countered as part of the uh the national 50:52.520 --> 51:02.760 debt for instance uh all these agencies like the fdic uh they can these are um contingent 51:02.760 --> 51:10.120 liabilities of the u.s. government which work into the hundreds of billions of dollars 51:11.420 --> 51:14.900 and other things that are off balance sheet items 51:17.720 --> 51:26.480 obligations to bail out well social security is a big one right medicare well yes because 51:26.480 --> 51:32.200 social security doesn't have money in a lockbox remember they used to say that we'll put money 51:32.200 --> 51:37.180 in a box don't worry about it that's our course thing i think it's been totally integrated social 51:37.180 --> 51:45.460 security with uh and its supposed assets with the uh with the balance sheet of the u.s. government 51:45.460 --> 51:53.320 so there's all kinds of undisclosed liabilities that there was a study done by a group some years 51:53.320 --> 51:58.920 ago and it turns out that the actual debts of the u.s. government are on the border of 51:58.920 --> 52:03.780 not 34 trillion or whatever it is it's more like 200 trillion 52:06.860 --> 52:13.080 yeah let me check this out so i can find it real quick so so basically the debt is unpayable 52:13.740 --> 52:19.440 i think that's well acknowledged by anybody who's thinking about it and uh if interest rates go up 52:19.440 --> 52:25.400 and the situation just gets worse and worse and certainly anytime you've lived beyond your means 52:25.880 --> 52:32.340 for a generation uh two generations i think we'd say then the that basically means you've made your 52:32.340 --> 52:38.620 children and grandchildren debt slaves so so that's the problem but uh so you're saying repudiate the 52:38.620 --> 52:44.680 debt the national debt is what i'm saying i'm saying repudiate it for moral reasons because 52:44.680 --> 52:51.140 we have no right to enslave our future generations repudiate it because most of that money has 52:51.140 --> 52:58.120 been stolen uh or misappropriated let's say by people in new york and washington 52:58.120 --> 53:03.040 that are standing close to the fire hydrant of money spewing out of washington and the 53:03.040 --> 53:09.840 federal reserve so they benefit from it so they should be punished uh and saying well it'll 53:09.840 --> 53:16.700 collapse the economy if you default on the debt well yeah i guess it will for a while a 53:16.700 --> 53:27.140 why because all the real wealth in the world the farms and the factories and uh the technologies and 53:27.140 --> 53:33.700 the skills of workers all the real wealth in the world will still exist you know just be a change 53:33.700 --> 53:38.160 and who owns it that's all and the financial people are the ones that are going to be hurt 53:38.160 --> 53:45.620 worst quite frankly so uh the real wealth is still going to be here just because a bunch of 53:45.620 --> 53:54.840 funny money disappears uh isn't going to change any of the fundamentals and but it was the last 53:54.840 --> 54:05.560 argument i'd make is that the debt structure in this country is so out of control it is going to 54:05.560 --> 54:12.360 collapse uh no matter how they try to hold it up and i would say that if you have a building 54:12.360 --> 54:19.860 that's 100 stories tall that is wobbling and is going to collapse you ought to do a controlled 54:19.860 --> 54:27.960 demolition so that it's controlled it doesn't collapse accidentally in a totally untimely 54:27.960 --> 54:34.340 manner so there's every argument to default on the debt and the what that actually looks like 54:34.340 --> 54:39.060 though it creates the opposite of the inflationary environment it creates a deflationary environment 54:39.060 --> 54:44.760 right because all of this all the money so all most of the money in the world which is this debt 54:46.040 --> 54:52.100 disappears yes right and and so people would lose their pensions anything they had in these 54:52.100 --> 54:59.180 that people would lose i mean it would it would wipe out a lot of the money in the system and 54:59.840 --> 55:04.860 but it does get it back to a square one where there are still real assets that you can build 55:04.860 --> 55:11.920 from the dollars that remain which should be backed by gold and therefore be real and not 55:11.920 --> 55:18.280 capable of being inflated if they're 100 gold in fact gold should be used as money gold won't 55:18.280 --> 55:26.800 disappear in a deflation because it exists unlike dollars that's the answer it's a radical move 55:26.800 --> 55:31.920 most people won't understand it it may be hard to explain adequately to the guy on the street 55:31.920 --> 55:37.460 that says where's my social security how come when i go to a hospital i got to pay for what i 55:37.460 --> 55:45.800 you know a lot of problems so uh we can advocate these things but i'm afraid we're just going to 55:45.800 --> 55:51.580 have to see what happens when it all collapses whether it's a runaway inflation or whether it's 55:51.580 --> 55:58.500 a deflationary collapse or both in different areas at the same time that could be as quite 55:58.500 --> 56:03.620 possible and even more confusing so in other words in a world where actions have consequences 56:03.620 --> 56:11.800 and cause has effect the stupidity of many years is going to have some inconveniences 56:12.540 --> 56:16.220 for yeah there's no there's no way out of the debt and i think a lot of people even that first 56:16.220 --> 56:20.200 question that was just asking about well we'll just inflate our way out of it i think people 56:20.200 --> 56:25.240 don't understand that the total i heard uh dav callum say this he said if you take the 56:25.240 --> 56:32.240 total amount of debt uh unfunded liabilities all that um per us citizen is something like two million 56:32.240 --> 56:39.580 dollars so if you were to inflate it away then that basically is inflating away the equivalent of 56:39.580 --> 56:44.360 two million dollars for every citizen in the united states now can you can which family can afford 56:44.360 --> 56:50.980 to have two million dollars of their wealth wiped away in this inflationary event event i mean it's 56:50.980 --> 56:57.280 totally devastating also and both sides of it are in the deflationary one is i think maybe less 56:57.280 --> 57:03.120 damaging because it's not universal it actually targets a lot of people who should know better 57:03.920 --> 57:10.560 and let me make a populist argument here i don't like populist arguments but two trillion dollars 57:10.560 --> 57:20.580 pro rata towards americans the average american uh doesn't have a lot of cash who has the cash 57:21.120 --> 57:27.620 okay who's the beneficiary of that debt who owns that debt it's rich people and a lot of these rich 57:27.620 --> 57:34.140 people not all of them but a lot of them have made money by sucking at government tits they'd be 57:34.140 --> 57:39.240 wiped out well that's wonderful i love to see justice done and it's actually gonna help the 57:39.240 --> 57:46.300 little guy right a deflationary event is the moral argument if you had to pick one of these two 57:46.300 --> 57:53.260 but it's also the harder to explain and the one that has the most lobbying power against it 57:54.180 --> 58:00.500 yeah and and because of that uh things are just going to keep going and going until it's 58:00.500 --> 58:08.680 out of control and that it's either an accidental deflation or runaway inflation or both it 58:08.680 --> 58:16.560 won't be managed because it's just so yeah we're still headed for tough times 58:17.320 --> 58:22.160 yeah yeah i did hear you though i'm glad it's pointing in america i'm happy i really am happy 58:22.780 --> 58:27.940 of course well i mean i'm happy because there is a sense of relief that the there's like less 58:27.940 --> 58:33.700 insanity uh you know with the people at their controls at this stage i mean that at least the 58:33.700 --> 58:38.600 insanity where i would be targeted directly in it so that makes me happy the relief but 58:39.600 --> 58:46.100 i did hear you in a conversation you had on uh mike ferris's podcast that's uh coffee and a 58:46.100 --> 58:50.220 mike i really like him and i like his podcast i heard you on that with michael yon and in that 58:50.220 --> 58:56.980 you said you you moved the timeline about when you thought this either one of these events 58:56.980 --> 59:03.140 might occur where you said i had never heard you said in the next decade and i guess do you 59:03.140 --> 59:08.520 really feel like the pressure is off that much yeah it is i think it is off for a while because 59:08.520 --> 59:15.480 we don't have people that are actually criminally insane in charge so we just dodge that bullet 59:16.320 --> 59:24.980 so yes i've got to move the timeline up fortunately thankfully oh man if we have another decade holy 59:24.980 --> 59:32.580 shit that's great will it be another decade i don't know but uh it's not tomorrow not tomorrow 59:32.580 --> 59:39.120 anymore i used to say this could happen anytime between tomorrow and a few years from now well 59:39.120 --> 59:47.640 it's not going to happen tomorrow anymore it's not going to happen for six months or a year this 59:47.640 --> 59:56.240 so happy days are here again but you know uh maybe since the stock market already overpriced 59:56.240 --> 01:00:04.180 and getting more overpriced with the uh relief rally the enthusiasm hey it could melt down again 01:00:04.180 --> 01:00:13.040 real easy so anything can happen it ain't over till it's over yeah that's true but you know i 01:00:13.040 --> 01:00:17.900 i mean i thought because uh reading you for so long that in the financial crisis that that would 01:00:17.900 --> 01:00:25.340 be the end and i honestly it wasn't uh obviously but it did you did see there has been a dramatic 01:00:25.340 --> 01:00:30.660 reduction in the standard of living since then but i do appreciate every year we've had since then 01:00:30.660 --> 01:00:35.900 because it's been a good opportunity to be better organized and prepared yeah you're quite correct 01:00:35.900 --> 01:00:40.820 and the movie we're watching is a horror movie where you think the monster has been killed 01:00:40.820 --> 01:00:45.960 we think the monster has just been killed but in a good horror movie the monster always 01:00:45.960 --> 01:00:52.920 comes back unexpectedly and that's what's going to happen this time i i hate i hate to bump people 01:00:52.920 --> 01:00:58.140 out at the end we we should have we should have ended this podcast on a happy note which we had 01:00:58.940 --> 01:01:04.760 10 minutes ago yeah well we i love the stuff that trump's doing on the domestic policy stuff 01:01:04.760 --> 01:01:09.880 i think that's fantastic so i think that is a super positive note and to have people stop 01:01:09.880 --> 01:01:16.820 uh you know injuring children uh i think that's a that's a happy note so if that's the only thing 01:01:16.820 --> 01:01:22.860 that got stopped out of this honestly in my mind it'd be worth it yeah i just hope that trump 01:01:24.020 --> 01:01:30.860 doesn't turn out to be israel's bitch and we have to fight a war with iran because bb doesn't like 01:01:30.860 --> 01:01:39.160 iran yes let's hope so Jesus that would be terrible all right well okay well i think we'll leave 01:01:39.160 --> 01:01:45.400 there doug and we'll be back on friday so thank you very much and we'll see you soon yeah fantastic 01:01:45.400 --> 01:01:50.580 maybe people will have some questions that we can deal with on friday absolutely if you're a member 01:01:50.580 --> 01:01:55.480 of the file the best the best way to ask questions is in the file um if you don't aren't a member 01:01:55.480 --> 01:01:59.660 file you can go to crisisinvesting.com and you sign up for the newsletter to get access to that 01:01:59.660 --> 01:02:04.080 automatically okay all right thanks doug we'll see you soon thanks matt