The rise of BRICS, CBDCs, and Biden-flation has raised concerns for many Americans trying to make ends meet and figure out a plan for what comes next.
Kirk Elliott PhD joins Justin for the latest..
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Transcript
Good News Pre-Show
[00:00:00] Sam Altman, the founder and originator of, of Open Artificial intelligence, right, he started World coin basically this new.
[00:00:10] Global cryptocurrency. And how creepy is this? In 35 cities, I think around the world, in 20 different countries, they’ve got this orb, this bowling ball sized thing that scans your retinas. So now your digital ID is attached to your bank account and everything else. And look at this video you’re playing.
[00:00:33] People are lined up for blocks to get their retina scanned. No thanks. Just like if you’re watching like a scary movie. Right? And we, as the viewers of the scary movie, I. There’s always somebody dumb, so dumb that you can’t believe they’re even alive on these movies. It’s like, don’t go behind that closed door.
[00:00:50] There’s a monster back there, and you’re gonna be eaten alive. Right? That’s how I feel about these people that are waiting in line to get their retina scan. They give up their [00:01:00] financial freedom for the rest of their life and for the sake of convenience, they think this is a good idea.
[00:01:07]
[00:01:07] we were just laughing about this off the ever but never a dull moment these days. We are really in the thick of it, Kirk, aren’t we? Oh my word brother. There is never a dull moment and.
[00:01:36] There’s always something to talk about because we got politicians that are really, uh, marching us down the road to serfdom, like really quick. I mean, it’s, it’s mind numbing to me. So, so you like, last time we spoke, we talked a lot about central bank digital currency and the complete onslaught of our freedoms.
[00:01:58] That that is, and, [00:02:00] and you know, a lot has even. Transpired since the last time we spoke in, in that arena, right? So you’ve got, um, you, you’ve got lag guard in, in Europe, Christine Lagarde, who was basically on air two days ago saying, you know, here in Europe we don’t want Google or Amazon or meta. To come up with some kind of a currency that’s gonna replace the sovereign currency of Europe.
[00:02:29] So what we’re gonna do is with our central bank digital currency, by October 1st, any transactions in cash, over a thousand euros, you’ll be put in jail. Second, she just went to jail for working with cash. It’s like, okay, all out onslaught now in Australia. Um, you know, it’s all over the news there. I don’t know if it’s in Sydney or Perth or, or someplace down there.
[00:02:56] You know, they’re doing like man on the street interviews [00:03:00]because there’s their a t m machines are running out of money, right? So, so you’ve got videos of people going to their A T M machines. It’s like, okay, so there’s no money. So they go inside and they talk to the teller and they say, Hey, uh, you know, I can’t get money out of the a t M machine.
[00:03:17] Is it broken? The answer is no, we just don’t have cash. You mean like for today? Like no. Ever. It’s like, what? So banks all over Australia getting rid of cash. So there, there’s this, this march towards central bank digital currency. Now I. You, you add to that other things that are, that are happening, that are, that are causing massive alarm bells to, to really start ringing.
[00:03:46] So the bricks nations are meeting August 22nd, and why are they meeting? Because they’re announcing their, they’re bricks centralized. Digital bank currency, right from the Bris nations, [00:04:00] which now Venezuela wants to be part of the Bris nations. I mean, they’ve got like 20 or 30 countries now. The, in 1971, um, we went off the gold standard completely.
[00:04:13] Nixon took us off the gold standard for, even for countries and con other countries paying off each other’s debt in gold. We said, Nope. Closing that gold window, now you only get our stinking paper dollars in return. Right? So then in 1973, We added the petro dollar, so, so the petro dollar means all oil settlements all over the world are traded in US dollars, which gives us a built-in demand.
[00:04:38] So without that, we don’t have demand for our currency, we’re forced to just print. Everything that we need because there is no demand for currency. The, the number one buyer of US treasuries is the Federal Reserve. Where do they get their money? Oh, well, they don’t really have money. They print it out of thin air [00:05:00] is where they get it.
[00:05:00] Which is why we have inflation, because when countries don’t want our US treasuries and we’re resort to the lender of last resort, the Federal Reserve to just buy everything that nobody else wants. Now we’ve got inflation. Right? So, We don’t have built-in demand for the Petrodollar. And what’s the Brix nations doing?
[00:05:20] They’re adding Saudi Arabia. They’re adding Iran. They’re adding Venezuela, some of the largest oil producers in the world. So change the word petrodollar really to like petro brick, right? Because this is what’s happening right underneath our nose, right? And so you look at that whole landscape that’s actually being.
[00:05:42] Manifested right underneath our eyeballs. And what did, what did Fitch Rating Agency do yesterday? They downgraded the US Treasuries from AAA to AA plus it’s a downgrade of our credit rating for our US sovereign debt. [00:06:00] And I noticed this is barely getting any coverage. Lester Holt’s not talking about this on the nightly news.
[00:06:05] Anderson Cooper, how big of a deal is this, Kirk? Massive. So yeah, so if you want to be the world’s reserve currency, You better have the best credit rating possible. Like you better have an eight 50 score, whatever the highest credit rating is, right? Mm-hmm. So for in the world of treasuries, it’s AAA rated bond.
[00:06:25] Now, if we put this into just layman’s terms, for every investor out there, it’s like the bellwether bond in the world is like the 10 year treasury, the 30 year treasury, right? And they have AAA rating, so you get a lower yield on it, right? You, it’s like there’s no risk in investing in this because. We’re the United States.
[00:06:45] We have built-in demand for our currency and if we run outta money, we have a printing press. Right? So it’s always been viewed as pretty safe. So that’s for, therefore it, it has a, the lowest of interest rates ’cause you don’t have to reward people with a [00:07:00] higher rate of return because there’s hardly any risk.
[00:07:02] Now compare that to like a junk bond. A junk bond. It’s like, well, we’re gonna have to pay you 15 to 20% on this piece of junk debt issuance because the company might not even be around six months from now. Mm-hmm. It’s a complete risk. Right. So difference I. Now when you lower the credit rating from AAA to aa plus, you’re moving towards junk bond type status.
[00:07:25] Right. I’m not saying it’s junk bond, but it’s moving in that direction. Yeah. So when you’ve got Jerome Powell at the Fed saying, okay, we’re probably gonna raise rates another quarter of a point in September, but then we can go on pause. We don’t have to raise rates anymore because we’re winning this battle on inflation.
[00:07:43] It’s like, No, you’re not. Right. You’re not, or else you wouldn’t have to keep raising rates, right? So you’re not, you’re just lying to us about it. But, and how do I know? Because the European Central Bank raised rates a quarter. Japan is raising their rates across the board, [00:08:00] across the globe. They’re raising rates to tame the inflation beast.
[00:08:04] Right? And it’s just simply not working. So, so therefore they think, oh, we’re gonna go on pause. Not anymore. They can’t have the word pause come outta their mouth because with a lower credit rating, you’re gonna have to have higher rates to basically entice other people who now view that as a risky asset to invest in US treasuries.
[00:08:26] So the whole concept of pause, I think, is being shot down the river, right? Without a paddle because you have to raise rates when you get a lower credit score. This is why people that have a low credit score have to pay a higher rate for their home mortgage. Right? Yeah. It’s just part of the deal and this is what’s happening except on a national scale.
[00:08:46] So, where are we going? Where is the, you see the ticking up, it’s like a roller coaster. We keep clicking up there. Where are we going? What, what are those interest rates gonna look like and what does that do for the economy? Well, [00:09:00] so if we could look back at history and I, you know, I, I always like to look at history because I wanna have a valid reason for my statements, right?
[00:09:09] It’s never make anything up. Um, so back in the early eighties, we had interest rates of like 18% on a 30 year mortgage. It’s like nuts. Imagine that today, Justin. But why? Why did we have that? Well, because inflation at the time was well over 14%. After the Carter years horrible recession. People weren’t working, inflation was persisting.
[00:09:30] Reagan had to raise rates to 18% to tame that inflation beast. Then however, You fast forward to 1996 and it worked. It tamed inflation and interest rates started coming down again. So they’ve been coming down since that point until about 11 months ago when they started raising again. That was 38 years of declining interest rates.
[00:09:52] ’cause we had a pretty robust economy, right? You didn’t, the inflation was held in check or at least pretended to be. Um, just [00:10:00]because you’re buying cheap goods from other countries, uh, doesn’t mean you’ve tamed inflation. That was their way of masking inflation because we printed so much money, we had few more dollars chasing few goods.
[00:10:12] That’s inflation. But they were masking it by exporting jobs and buying cheap junk from other countries. Right? So, so the Clintons, the Obamas, the bushes, very consumerist presidents that said, we’re gonna hide. This inflation by really. Increasing our imports from these cheaper producer countries, right? So they masked it, but it wasn’t, it never went away.
[00:10:36] It was still there. Well, now we’re seeing it on a global scale, right? We’re seeing massive inflation. And so 1996, president Clinton changed the way we measured inflation. Artificially made it low. So, so government expenditures that were tied to cost of living increases could be lower. So you compare apples to apples.
[00:10:56] Justin, this is very important. [00:11:00] 1983 inflation to today, if you take away the stupid metrics of artificially lowering inflation that Clinton put in place, we’re unofficially at around 20% interest rates or 20% inflation. Mm-hmm. Which means if you wanna use interest rates to slow that inflation down, interest rates have to go north of 20%.
[00:11:18] That’s where we’re headed. Whew. All right. Take a breath, everybody. Uh, let me just show this is, this is to me. This is so funny. I just, uh, Google Fitch downgrade and if you can see the screen here, Fitch tells c n n Why it downgraded America now. Fitch just is. N p r Fitch just downgraded the US credit rating.
[00:11:38] How much does it matter? Jamie Diamond calls Fitch downgrade Ridiculous. Warren Buffet says he’s not worried about fitch’s us downgrade. Uh, it just seems, just, seems like there’s a lot of people like, oh, there’s nothing to see here. There’s no problems, no issues here. And, and to me that tells me, uh, I, I don’t know, I don’t mean to be too much of a [00:12:00] conspiracy theorist here, but that, that just seems like a, I’m in the media business, so I understand media and what the propaganda, the things that are happening out there.
[00:12:07] Nothing to see here means, Hey, let’s get our house in order before everybody else has a chance to, I mean, seriously. And Janet Yellen said the same thing. She said, Fitch doesn’t know what they’re doing. Oh, you loved ’em when they gave you a aa, but now you don’t. Now they’re idiots. Right? Well, so Fitch is very good at this stuff.
[00:12:28] I mean, they’re the biggest credit reporting agency on the planet when it comes to US treasuries and bond ratings. Right? So, so what’s their algorithm? What’s their methodology that they use? Well, it’s pretty simple. I mean, PhD economists, I’ll, I’ll tell you what they’re looking at. The two major things is, a, how much debt do you have?
[00:12:47] And B, do you have the ability to pay it off? Yeah, I mean, that’s really the two biggest things that they’re looking at. So let’s break that down so people can understand, Kirk, because we are, how much debt do we have [00:13:00] and what is our ability to pay it off? Okay, so, so, geez, it’s so much, I can’t count it all.
[00:13:09] So, Technically we have $32 trillion of federal debt. Mm-hmm. Um, with the rising interest rates that we’ve seen that have more than doubled over the past 12 months, um, the interest only payments that this is interest only on the $32.6 trillion is pushing a trillion dollars a year now. Wow. A trillion.
[00:13:33] Okay. So when you look at what we bring in, what are our federal revenues? What are our tax revenues? It’s about 4.8 trillion. So you look on that, that screen that you have there. US debt clock look right under the word debt in the title, and it says, you s, federal tax revenue, right? Mm-hmm. 4.8 trillion.
[00:13:56] That’s all the income that the nation brings in in federal [00:14:00]tax revenues. That’s the way that the government makes money. Now that we have a trillion dollars of just interest only payments. Mm-hmm. It’s like, man, that’s like more than 20% of everything we bring as a nation goes out towards debt, interest payments.
[00:14:15] It’s like this is insanity. Right? You can’t recover from that. So when you look at what happened really with, with derivatives debt and highly leveraged debt, the global debt nation, globally, global debt. Has gone from 4 trillion in 1971 to $325 trillion today. That’s an 80 times increase. Right. But what’s it, what are they projecting it to be in 20, 30, just seven years from now?
[00:14:44] Hmm. Three plus quadrillion. Wow. With a Q. When I saw the numbers, it’s like typo. I mean, it’s not a B for billion, it’s not a T for trillion. It’s a q. I was like, oh my word. We we’re seeing quadrillion. Right. So, so that’s [00:15:00] unsustainable debt, right? And so what are they gonna have to do? They’re gonna have to print money to get their way out of this, or completely default, right?
[00:15:08] So their, their first methodology is they’re gonna try to print money. Well, you go back to the old time philosopher Voltaire, right? What did Voltaire say about money? So he said paper money, um, eventually returns to its intrinsic value. Which is zero. It started as nothing. It ends at nothing. It only has value because people say that it has value.
[00:15:35] There’s no tangible backing to it, right? So you, you look at this stuff and say, it’s gonna go to zero. It means we’re gonna have a ton of inflation. And then how do you slow down inflation with rising interest rates? See, these are the dominoes that we have to start connecting, you know, the dots connecting in our minds as these dominoes start to fall.
[00:15:53] So as peoples get higher interest rates, A lower wages. Higher prices, [00:16:00] they’re gonna start to default. Well, what is that gonna cause? Bank failures, right? We’ve already seen in mid-March, starting with Silicon Valley Bank, the warning shot, the shot across the bow of banks failing. Yeah. But now, last week the Fed came out with their number.
[00:16:17] They’re expecting 722 banks to fail. Yeah. Why? Because. Their, their losses were over 50% of their capital. It’s like, oh my word. They lost over 50% of their available capital in recent months. It’s like, this is bad, right? If you lost, if you are an investor, Justin, you lost 50% of your investment. Well, a, your, your spouse would say, you’re the worst investor on the planet.
[00:16:44] You can’t touch our money anymore. Right. Or you know, you would just have to file for bankruptcy or something because you’re so bad at it, you just need to stop, right? So this is what banks have done, 722. You add that [00:17:00] to what Weiss Ratings Research has said, and they had a list of 4,243 banks that are on the verge of failure.
[00:17:08] Either one of those numbers, 7 22 or 4,243. It’s bigger than five, that’s bigger than the five banks that have already failed. And look at the mayhem that that caused. So here’s what we have to remember about banks. So what do banks need to survive? They need higher interest rates. I. Because they need to make more money and they need a reduction in their loan portfolios, right?
[00:17:36] Because if people are, are defaulting on their loans, they just need a reduction in the amount of loans that they have out there and higher interest rates to survive. Well, what do borrowers need? Borrowers both commercial and private, they need the opposite. They need lower rates and more credit to survive.
[00:17:51] Yeah, it’s like this is an opposite. So who’s gonna win? Are the banks gonna win? By getting higher rates and [00:18:00] lowering their loan portfolios and stick it to every consumer in the world. Or are the consumers of the world gonna win and get lower rates and more credit and all the banks fail? See, this is a catch 22 dilemma.
[00:18:13] It has no solution. It’s gonna end up with both sides. Losing borrowers will default and banks are gonna go bankrupt. This is what we have coming down the path. In a world where there’s no guarantees could pretty much guarantee it because wages are coming down, inflation is going up, the cost of borrowing is going up to slow down that inflation and, and under the current environment that we have politically geopolitically.
[00:18:41] And you’ve got all these ex extraordinary measures of moving towards Central Bank and, and running out of cash and putting people in jail for cash transactions over a thousand euros. Oh, it’s crazy. I mean, it’s nuts, but, but we think, okay, this is Europe. This isn’t gonna happen here. Hogwash. [00:19:00] So in Denver, so Denver is on the list of Interpol.
[00:19:07] For one of like 20 or 30 cities in the country that, that they need to, to look for like money laundering stuff, right? So, so I, I know people in the title company world and in realtors and, and here in Denver, if you buy a house, um, that you pay cash for, let’s say you sold a house and you’re downsizing and the equity that you have in the old house, you can just pay cash for the next one.
[00:19:32] You have to submit a special form the title company does to Interpol to investigate you for fraud and for what? Money laundering. It’s like what? Oh yeah. For paying cash. Right. It’s like I thought paying cash was good. Well, no, they really kinda want you in debt and it’s, Denver’s not the only city like Miami or, or San Francisco or Dallas.
[00:19:56] I mean, there’s a lot of cities on this list, but this is in America. [00:20:00] They hate cash. They, they demonize it, right? Because they wanna get rid of it. Because if they don’t know about it on a private transaction, they can’t tax it. But it’s not just about taxation that we’ve had all kinds of rulings and administrative laws and plans from the World Economic Forum, the Bank for International settlements, the uh, I M F, the Federal Reserve that have said what ideology is going to be the thing that divorces you from your money.
[00:20:29] I. Ideology how you think, how you act, what you spend your money on. Are you giving to a political party that they don’t like? Are you buying gas for your gas guzzling truck when they want you to have a low carbon footprint? Right. Um, or we, we see this, it’s like, Kirk, you’re being extraordinary and this is wild stuff.
[00:20:48] It’s like, but it’s happening. So two weeks ago, Nigel Farage in, in England, you know, the leader of Brexit. Very conservative political leader there. [00:21:00] He had a bank account at a bank called cots, C O U T T S. What happened? They, they canceled his account. It’s like, and why? So in a 40 page dossier, they told him why they canceled his account, but they’re in collusion with the other banks.
[00:21:16] ’cause he tried to get an account opened up at eight other banks. They all refused him. I saw that. ’cause they said he’s a reputational risk to the banks. Mm-hmm. Because, The 40 page dossier. They mentioned the word Brexit 40 or 40 times. They mentioned the word Russia like 88 times, but they also mentioned his support of Trump.
[00:21:36] His views on net zero carbon emissions on immigration and vaccines. What does that have to do with you and your money? Well, it has everything to do when they’re now attaching it to ideology. But same thing happened to Dr. Mercola. The natural doctor, you know, who has vitamins this week, right? Yeah. This just happened last week at JP Morgan Chase.
[00:21:59] They closed [00:22:00] his accounts, but not only his, but his C f O, his c e o, their spouses and their kids. It’s like, what? It’s like so much for freedom of speech. I mean, you can have freedom of speech in America as long as it, it. Is what they want you to say. That’s what freedom of speech now means, right? Anything other than that, well, they’ll cut you off from your money.
[00:22:23] They’re doing it. It’s not just me saying some kind of a weird opinion. I. They’re actually doing it because they don’t want reputational damage to the bank. Right? It’s like garbage. This is, this is just stupid. So now with all of this digital identity, it’s like they have the ability to reprogram money by their own definition, programmable money.
[00:22:49] This is what Central Bank digital currency is all about. And this isn’t new though. You go back to 2019. O Federal Reserve Docket number OP [00:23:00] 1670. It was put into the Federal Register in 2020 where they were defining money and they basically, that was the initial ruling that started the Fed Now app, Justin.
[00:23:10] So everything that we’re seeing right now, so what is it that they said? They said money is a few things that we always know that money is, it’s a unit of exchange. It’s a mechanism for exchange. It’s a holder of value. That’s what money is, right? You have a $10, $20 bill. It has this, this unit of exchange, and you can trade it back and forth for goods or services.
[00:23:33] That’s what it does. But they added one more thing to it. They said money has a new definition, social control. It’s like, Oh, from the Federal Reserve in 2020. In 2020 they said this. So now we’re seeing it all play out and people are surprised to say nobody should be surprised they telegraphed what this is all about back in 2020.
[00:23:57] So, You’ve got all this. And they can [00:24:00] only do that with digital money because they know the source of funds. They know the, the use of funds. They know who the owner is, and if they don’t like you, they can reprogram it. But to me, the most dangerous aspect of all of that is when you can program money, you can program the expiration of money if it’s digital, right?
[00:24:20] Yeah. So let’s just say this example. Let’s say, Hey Justin, you’ve worked really hard your whole life. You got a hundred grand sitting in the bank for your retirement. And they need to stimulate the economy. They need to provide some kind of stimulus and say, okay, Justin, you have to spend all of your money by December 31st.
[00:24:36] If you don’t, it expire. It’s worthless. Great plan to stimulate the economy. But what happens on January 1st? Now you’re completely subservient and you’re there surf, right? You’re, you’re, you’re a slave to them because now you’re completely dependent on them. ’cause you got rid of your nest egg. You got rid of your buffer because you had to ’cause it was gonna expire worthless.
[00:24:58] Now you’re, it’s up to them [00:25:00] on their debit and credit system, whether you get money or not. So this is the danger of programmable money, and this all comes from Central Bank digital currency, which freaks me out because over the weekend, Sam Altman, the, the founder and originator of, of Open Artificial intelligence, right, he started World coin basically this new.
[00:25:24] Global cryptocurrency. And how creepy is this? In 35 cities, I think around the world, in 20 different countries, they’ve got this orb, this bowling ball sized thing that scans your retinas. So now your digital ID is attached to your bank account and everything else. And look at this video you’re playing.
[00:25:47] People are lined up for blocks to get their retina scanned. No thanks. Just like if you’re watching like a scary movie. Right? And we, as the viewers of the scary movie, I. There’s always somebody dumb, so dumb that you [00:26:00] can’t believe they’re even alive on these movies. It’s like, don’t go behind that closed door.
[00:26:04] There’s a monster back there, and you’re gonna be eaten alive. Right? That’s how I feel about these people that are waiting in line to get their retina scan. They give up their financial freedom for the rest of their life and for the sake of convenience, they think this is a good idea. It’s like, oh my word.
[00:26:23] Don’t do it. Right. Yeah. And, and isn’t there some sort of promise of payments, universal income or some payment that they’ll get for, for going along with this process? Well, the, so I’ve heard speculation that universal basic income is gonna come from it. But that’s speculation at this point. But what is the actual thing is you get this done, they’re gonna give you a world coin.
[00:26:49] That, you know, so they’re, the World Coin Project has been announced. World Coin is a cryptocurrency project co-found by some. What what, I mean, what is, what is a world coin even? I mean, what is it? Well, it’s [00:27:00] so, it’s basically a cryptocurrency like bitcoin. I mean, that’s all that it is, except it’s this centralized version of it.
[00:27:07] He’s trying to create this whole new ecosystem, financially, globally, distributed blockchain, but centralized where, and, and you realize this is the guy that created open artificial intelligence chat, G P T, the the artificial algorithms and the software that’s actually going to determine. What your digital social profile is, what your social credit score is, right.
[00:27:35] It’s, it’s open artificial intelligence. The newest estimates are that 20% of all US and European jobs, jobs could be replaced in the next two years. So white collar jobs, not pipe layers, not barbers, you know, not dishwashers because that’s manual labor, but data analysis lawyers. Um, [00:28:00]accountants. Think programmers right?
[00:28:02] Can all be done now by a computer. Yeah. So what’s gonna, so this is the danger of this. What’s gonna happen when you potentially have one out of every five high paying jobs in America that goes away. Those people are gonna go to the government and say, I need unemployment insurance, I need a social security, I need Medicare.
[00:28:19] I need something. Right? So, wait a second though. How the governments are running out of revenue because now these people don’t pay income taxes. A computer doesn’t have to pay income tax, you don’t pay them, right? A computer doesn’t go to Best Buy to buy things, so there’s gonna be sales tax revenues that come down.
[00:28:39] A computer doesn’t build a family and have to go buy a house, so therefore the, the housing market’s gonna get crushed and property taxes come down. Every revenue stream comes down. Computers replace people for jobs. And so then what you’ve, you’ve got increasing expenditures ’cause people are gonna be needing benefits, [00:29:00] but there’s not enough income.
[00:29:01] The inflationary pressures are gonna go through the roof. These are the unintended consequences of something. That’s so wild to me that when, when, like back in the day, the, the first Terminator movie, the Arnold Schwartzenegger movie, right? Where Skynet. Decided we’re gonna take over for the humans that created us, and we’re gonna make the machines fight a war against the people.
[00:29:27] Well, this is exactly what’s happening. The computers got too smart and fought a war against their creators. This is what’s happening now, but it’s no longer a movie. It’s happening, right? And this is just insanity that we’ve let it get to this point. But there is a solution, right? So the solution is get outta the system, have something that’s private, have something that’s tangible, have something that’s real like gold or silver that you can use for barter, but then politically speaking, Vote with your voice, right?
[00:29:58] Call your state [00:30:00] legislators and say, Hey, I wanna do what Texas and Alaska are proposing. And that’s a state chartered central bank backed by gold to get out of the federal system, to get out of F D I C, to get out of this Fed Now app, have a state system. So when I see the, the benefit that’s happening from all of this overreach, Is state’s rights, state sovereignty starting to rise up and be what the founding fathers envisioned the Federalist system to be.
[00:30:30] You know, which is simply, if states can do it, then they should. If they can’t do it, then the federal government should like a national defense, you know, but, but if anything else should be delegated to the states to do, So a bank is one of them. You don’t need a national bank. So call your politicians in your states and say, we want a state chartered bank in our state.
[00:30:55] ’cause that’s a way, but that’s down the road. What you can do right now [00:31:00] is allocate into silver, allocate into gold physical things that you take delivery of. That’s a private transact transaction, so you’re no longer a digital slave in their digital world. This is, there’s so many people with questions on this right now.
[00:31:16] Uh, Kirk, and I know we don’t have a lot of time, but we’re gonna try and answer some of these questions for some folks. Uh, first one is talking about the interest rates going up to 20%. Uh, so when do you think, what’s the timeline on this? How long do you think that is? Well, so we’ve more than doubled in the last year, right?
[00:31:34] We, we went from about one and a half percent to. 5%. I mean, that’s a lot, right? But we’ve seen three quarters, half point, quarter point increases like every single time the Fed meets. So if we double again over the next 12 months, that puts us to over 10. So really probably, but it’s probably accelerate at some point.
[00:31:57] You don’t see three quarter point jumps. You see one, you see [00:32:00] one and a half. So, so probably over the next. 12 to 18 months, you could see interest rates in the teens. It happened really fast in the early eighties. I mean, within a year we went from 7% to 18%. So once that ball starts rolling and we’ve already seen the ball start rolling, we’re just now seeing the the bigger impact and I would say 12 to 18 months down the road.
[00:32:26] So obviously, as you mentioned, the options that people are gonna have, everybody’s going to be different. Um, I got a 4 0 1 k, I’m getting ready for retirement. Everybody’s got custom solutions. Or maybe I’m just starting out, uh, how much should I put here? How much should I put there? These are all questions that people really need to just get on the phone and maybe ask you or somebody that works with you so that they can get their custom solution worked out.
[00:32:53] ’cause my, I got two kids, we’re just getting started. Yeah. My scenario’s gonna be different than somebody who’s ready to retire [00:33:00]tomorrow. A hundred percent. You can’t use a cookie cutter approach. Companies that do are just wrong because everyone’s different. You have different ages close to retirement, far from retirement, income needs, growth needs, right?
[00:33:11] Um, different risk profiles, everything, which is why we ask you what your dreams are, what your goals are, what you’re scared of, what your what you want, right? And then we can map out a strategy for success that will allow you to thrive. I mean, you look at what silver has done over the last three years.
[00:33:30] March of 2020. It was 1191 an ounce. About eight months ago. It was 1797. Today it’s almost 24. That’s massive growth. In a little over three years, we’re up over a hundred percent. It’s amazing. It’s averaging over 30% of your growth in a world where people say, I don’t know what to do financially. I’m scared.
[00:33:47] I’m, I’m paralyzed. It’s awful. It’s like, I have a smile on my face ’cause we’re allocated correctly, right? For the times that we’re living in. And this is where we will hold your hand through this [00:34:00] economy, let you know when it’s time to buy, sell, reallocate, get out of dodge, do whatever needs to be done.
[00:34:04] That’s what my team is really, really good at, is hearing your needs. Squelching that fear, kicking it in the butt where it belongs and and sending it to the pit. We don’t need to operate out of fear. We can operate out of confidence in sound mind, and wisdom and discernment and everything that God gave us and implanted in us.
[00:34:26] We can actually operate in that and have a smile on our face. Free special reports@justinbarclay.com slash golder. You can get on the phone and, and, and talk to somebody in person. Get those questions answered. Uh, just tell ’em we sent you, and of course, you’ll help support the program, but more importantly, you’re gonna get empowered for yourself and your family so you can march forward with, uh, with some confidence in all of this.
[00:34:48] Kirk, I, I thank you for just taking it. ’cause this is, these are subjects that are very heavy for people. They’re very weighty. One of the things that. Can cost us to us waiting too long to actually take action. Um, so [00:35:00] what would you say to encourage people to, to know that, hey, now’s the time, get the house in order.
[00:35:04] Well, you know, they do have a timeline. Normally, I’m not an urgency kind of a guy. Never have been, not in 29 years. It’s like, think about it, pray about it. Call me back when you’re ready, we’ll help you out. But, you know, the UN United Nations through different resolutions that they’ve made, uh, bank for International settlements, uh, the World Economic Forum, they all have timelines on this for implementation.
[00:35:28] The most recent one. The United Nations, September 15th, 2024, they want a digital ID that’s biometric to you, attached to your bank accounts that might be accelerated with Sam Altman’s stupid Orban World coin, right? But that’s their date, drop, dead date. And then a week after that, they already have the conference, um, scheduled.
[00:35:50] Where the, it’s called the, the pact for the future, right? So, so it’s gonna be in some city in China where they’re gonna tell the whole world [00:36:00] everything that they’ve already accomplished here and what the rest of the future is going to look like. So sometime between now, And September 15th of next year, you’re gonna see everything fall apart as we move headlong down this, this march towards serfdom, um, where they want us to be their, their slaves financially, right?
[00:36:21] So, so general rule of thumb though, when something’s going up, get into it as soon as you can. When something’s going down, get out of it as soon as you can. Right. So fundamentally, stocks, bonds, mutual funds, real estate, they’re all coming down because of the interest rate cycle and inflation, gold and silver are going up.
[00:36:41] So I would urge you just, if you’re thinking about it, if you’re on the fence, well just do it. I’m not saying that if you don’t do it yesterday, you’re gonna die foolishness. The world is still gonna be around tomorrow, but the longer you wait, the the worse the position might be. And at some point, It might be too late.
[00:36:59] I mean, [00:37:00] they’ve already issued the Fed Now app and, and once your bank issues it, you’re not really gonna have a choice whether you take it or not. JP Morgan Chase started it on, on July 20th. Bank of America’s rolling it out right now. It’s like, okay. I mean, Take. The longer you wait, the longer it might be where they say, we’ve, we’ve implemented this.
[00:37:21] We just didn’t tell you about it. Now everything’s attached to your social credit score, which Barclays just announced two days ago. They’re going to social credit scoring system. What’s the social credit score? It’s like your regular credit score except attached to your ideology. That’s what it is, and that gives you the ability to cut you off from opening an account.
[00:37:44] Or shutting off your account that you already have if your ideology doesn’t match theirs in their own words. Not mine. Yeah. I, I can’t, I can’t even imagine, fathom what mine would be. It’s probably probably not good at all. [00:38:00] Uh, Kirk and neither, neither are you. But you know what, I, we we’re taking the proper steps.
[00:38:04] Let’s, let’s do that together. Thank you for taking the time to be with us, Kirk Elliot, PhD. Appreciate you, my friend. It’s my pleasure. God bless. So there he is, folks. Uh, if, uh, we’re trying to try and have, uh, Kirk on more often, see if we can get more answers as the things sort to heat up here. But please get in touch with him.
[00:38:21] Uh, reach out Justin barklay.com/gold. Get your free report. Pick up the phone call, find out what they can do to help you and of course, get you on the right track. Talk to you soon. God bless.
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