How much more can we take?

Kirk talks the war in the Middle East and the impact on the economy, with oil prices increasing and gas prices skyrocketing to $6.91 per gallon in California. We’re facing potential economic catastrophe. So, how do you prepare and protect yourself and your family from disaster?

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 may have answers for you..

Get a free special report on the coming global financial reset and find out how to protect yourself and your family. http://JustinBarclay.com/Gold

 

00:02:31 Jewish and Islamic conflicts, peace treaty. Uncertain outcome.
00:05:41 Oil prices expected to rise due to conflict and export controls on Russian oil.
00:09:00 Iran cut oil production which will raise prices and harm US. Putin is outmaneuvering Biden economically.
00:12:51 The economy is facing inflation and high oil prices due to the Israeli Hamas conflict. Policymakers plan to raise rates once and then pause, but raising rates may have negative effects on the economy. Higher interest rates indicate economic recession.
00:15:00 Currently, short term loans have higher interest rates than longer term loans due to an inverted yield curve indicating imminent economic danger.
00:18:26 Jim Jordan is seen as a thorn because he is being responsible; the federal debt has grown by 1.5 trillion in only ten months this year, surpassing the debt accumulated in the first 205 years of the country.
00:21:05 The text criticizes the potential appointment of a Democrat as Speaker of the House and highlights the lack of effort in fixing the economy by cutting spending. It also points out the political focus on gaining votes rather than addressing the debt issue.
00:25:44 Transition from paper money to digital currency, sacrificing privacy and freedom. Suggest investing in gold and silver to safeguard freedom as they thrive during times of debt, inflation, and conflict.
00:28:15 Oil prices and countries’ strategies in OPEC and BRICS are discussed to profit while America faces financial loss.
00:31:45 Switch to Q streaming for cheaper cable. Get all channels, including news and independence. $2 a day. streamingjustinbarkley.com.

 

 

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TRANSCRIPT

 

Kirk Elliott PhD 10-19-23

[00:00:00] Kirk Elliott PhD: peace treaty from. They’re going to be in this Even Netanyahu just this morning said this is going to be a long, prolonged And it’s, and it’s unfortunate because conflicts bring death.

[00:00:11] Kirk Elliott PhD: It brings destruction economically. It brings misappropriation of funds and it causes inflation because of the geolocation of where we’re at. Um, with the countries that are involved, oil producing nations, right dead center where you’ve got countries choosing sides in, in this battle. And this is where I a concentrated, localized conflict turns into a big regional one I just think this gets pretty big and pretty ​

[00:00:42] Justin Barclay: [00:01:00] What a week. Uh, we have seen quite a bit in the last week or so since we’ve spoken with Kirk Elliot, Ph. D. A lot of developments and, uh, through, I guess the entire world we’ve seen shockwaves really. And what does that mean for us economically here back at home plus throughout the world? Let’s talk about it.

[00:01:18] Justin Barclay: Kirk Elliot, Ph. D. Thank you for being here with us today, man. Appreciate you.

[00:01:22] Kirk Elliott PhD: Hey, Justin, I appreciate you. It’s great to be back. I wish I wish under better circumstances, really. I mean, what’s happening in the world is, is wild. I mean, it’s, it’s. It’s wild.

[00:01:36] Justin Barclay: You’re kind of uniquely suited probably to tackle and take on some of this, uh, cause you’ve got two PhDs, right?

[00:01:42] Justin Barclay: So for people that don’t know, what, what are you, uh, what, what’s your study

[00:01:46] Kirk Elliott PhD: in there? Uh, so first PhD is in public policy administration, focusing on monetary economics, like central bank type stuff, monetary policy. Um, glutton for punishment. After I got that one, I said, [00:02:00] Hey, two is always better than one, isn’t it?

[00:02:03] Kirk Elliott PhD: Not necessarily. But, so I got a second one in theology, um, it’s cause I love God’s word. And it’s like, Hey, if I’m studying it, I might as well get another PhD and stuff. So I did. So I’ve got two. So,

[00:02:16] Justin Barclay: uh, so that I got to ask, because that kind of uniquely puts you in perspective for everything we’re seeing right now.

[00:02:21] Justin Barclay: Maybe the history of everything and where we are, what’s happening moving forward. It seems like we’re living a lot of that book these days, doesn’t it?

[00:02:31] Kirk Elliott PhD: I mean, yeah, so you, I mean, we can start with the theology piece, because it’s actually quite simple. Um, the, the Jewish… People and the Islamic nations have never gotten along like ever since Isaac and Ishmael, right?

[00:02:46] Kirk Elliott PhD: I mean, they’re constantly fighting, um, fighting about land, um, goes all the way back to Abraham and who got what? I mean, it’s just, it’s just fighting, right? It’s just, it’s just awful. But, you know, [00:03:00] we’re yeah. What the Bible does tell us is that at some point there’s a peace treaty that’s signed with Israel, right?

[00:03:07] Kirk Elliott PhD: So, so what does that mean? If there’s a peace treaty, it means there’s going to be something that they have to sign a peace treaty from. They’re going to be in war. Could this be it? I don’t know. Right. But this even Netanyahu just this morning said this is going to be a long, prolonged conflict. Um, And, and it’s, and it’s unfortunate because conflicts bring death.

[00:03:30] Kirk Elliott PhD: It brings destruction economically. It brings misappropriation of funds and it causes inflation because of the geolocation of where we’re at. Um, with the countries that are involved, oil producing nations, right dead center of it. And so when, when you saw what was happening in Israel, a couple of things.

[00:03:52] Kirk Elliott PhD: To start with, um, number one, countries are choosing sides, right? So you’ve got geopolitical conflict starting [00:04:00] to happen. Even, even Zelensky in Ukraine said what Israel did in retaliation, um, to the, to the Hamas, you know, missiles was as an act of terrorism. It’s like, well, what about the first part? Right.

[00:04:13] Kirk Elliott PhD: It’s like, you know, it’s, I’m not saying that. Both of them are bad, but a country has a right to defend itself, right? So, so here’s where you’ve got countries choosing sides in, in this battle. And this is where I think, uh, a concentrated, localized conflict turns into a big regional one really quick. But I just think this gets pretty big and pretty ugly, right?

[00:04:40] Kirk Elliott PhD: So, so my, my daughter. Um, got married a couple they went on a cruise, sta and went through some of were supposed to end up

[00:04:55] Kirk Elliott PhD: i last port on the day that flying. And so they’ve [00:05:00] co her and her new husband c from the world on this sh That’s like, I wouldn’t b either. Are you kidding m So I get a text from her on, on the day that the missile started flying and said, Hey dad, I don’t know what’s going on. We have no news. Um, other than we have to now port in Egypt instead of Jerusalem because it’s too dangerous.

[00:05:21] Kirk Elliott PhD: And that’s all that I know, but we’re safe. Here you go. So, so You know, you’ve got, this is going to, though, now you’ve got what this thing you have on the screen, Americans being warned everywhere, you know, get out of, get out of Gaza Strip, get out of Israel, you know, it’s unsafe, blah, blah, blah. So this is gonna have tentacles that spread.

[00:05:42] Kirk Elliott PhD: But economically, I think the biggest thing that’s going to happen has to do with oil. So the day after the conflict started, Uh, there was, I read a research paper and analysis paper that said oil was going to go to 150 a barrel. Well, [00:06:00] that’s fine. Right. It’s like, where did it start from though? I mean, if it started at one 47 and goes to one 50 big whoop, it’s like, but it didn’t start at one 47.

[00:06:08] Kirk Elliott PhD: It was at 93 on the day that that analysis paper was written. So 93 to one 50, that’s over a 50 percent increase. in the price of oil because of this conflict. Now that’s not the only thing that’s, that’s impacting the price of oil because, uh, the beginning of the week Biden, um, some, some new export controls on Russian oil were put in place.

[00:06:33] Kirk Elliott PhD: And over the weekend, I’m sorry, this was last week over the weekend, oil went up like three bucks a barrel because of these export controls. So. You’ve got this huge, uh, stimulus pushing oil prices up. So last week I was in, um, pebble beach for a nonprofit charity event for a, uh, anti sex trafficking foundation that our company sponsors, right?

[00:06:59] Kirk Elliott PhD: [00:07:00] So we got to go there and, and just. See the amazing things that our donated dollars have done in rescuing women and children from sex traffic. Right. It was really awesome. But, but what wasn’t awesome is while I was there, I had to put gas in the rental car in California and it was 6 and 91 cents a gallon for gas.

[00:07:19] Kirk Elliott PhD: Right? So some thinking, what is gas? It’s refined oil, right? So, so if oil goes up 50 percent get price of gasoline, we’ll have to go up 50 percent as well because all it is is refined oil. So in California, that would put gasoline prices at the pump, you know, as if it starts at 6 91, just call that seven up 50%.

[00:07:40] Kirk Elliott PhD: Well, good grief. It puts it at like 10 and 50 cents a gallon. You know with with oil going up that much it’s like this This is insane, right? So americans already can’t afford to live, right? They’re already living hand to mouth and if you have those kind of inflationary pressures on [00:08:00] oil it gets substantial, but there’s more to it so iran Which, which actually August 22nd through the 24th in the BRICS nations, Iran was admitted into the BRICS nation starting January 1st of 2024.

[00:08:16] Kirk Elliott PhD: So what are they trying to do? They’re trying to impress their BRICS buddies, right? And so, so they’re, they’re, and, and complying with Putin’s marching orders at that meeting, which says we are going to de dollarize the world. It’s irreversible and it’s our objective as the BRICS nation. So how do you de dollarize the world?

[00:08:36] Kirk Elliott PhD: Simple, if to them, you just add six of the nine largest oil producers in the world, including UAE, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina. I mean, they’re just coming right in, right? So, so you strip away the petrodollar status, which means now oil settlements globally are no longer traded in the US dollars.

[00:08:57] Kirk Elliott PhD: They’re going to trade in their own currencies in the [00:09:00] BRICS nations, right? So. That’s de dollarizing the world. So what did Iran just do? Iran basically went to OPEC, said we’re cutting production, let’s cut production on oil. It’s going to cause the price of oil to go through the roof. Problem for the United States, because we’re not oil independent.

[00:09:18] Kirk Elliott PhD: We’re still dependent on foreign oil here in this country, right? So if they jack the price of oil way up and we’re still dependent on foreign oil, they’re really sticking it to us that way. By adding to our expenditures. They’re also sticking it to us by no built in demand for our currency. See Putin.

[00:09:38] Kirk Elliott PhD: Knows what he’s doing, right? And they’re playing this brilliant chess game while Biden’s playing checkers. And it’s like, it’s not even a close match. Right? So, so here’s where, where things start to get squirrely economically, really, really quick at a time when we can’t afford that to [00:10:00] happen because Justin, you.

[00:10:02] Kirk Elliott PhD: Remember back to 2007 through 2009, the great recession, right? I mean, it was, it was bad. It was, it was bad. And what happened to American companies during that, like in 2009, they were going bankrupt, like left and right, just hand over fist, right? Tons of corporate bankruptcies. There’s a big difference between then and now see back then we had a ton of corporate bankruptcies.

[00:10:29] Kirk Elliott PhD: But interest rates were low, right? You know, in 2009, that was the beginning of zerp zero interest rate policy. They, they artificially lowered interest rates to stride, try to stimulate the economy, but now we’ve got an economy. That stinks and we don’t have close to zero percent interest rates We’ve got interest rates that over the last 12 months have doubled Interest rates have doubled over the last 12 months.

[00:10:58] Kirk Elliott PhD: So imagine [00:11:00] if you’re a company Either a mom and pop medium sized business big corporate mega, you know corporation, right? Um, and you have loans that come due and you have to refinance them If they come due now over in 2024, the rate is going to be double what it was 12 months ago at a time. Put con I’m connecting some dots here for you to paint this picture.

[00:11:26] Kirk Elliott PhD: So their cost of borrowing is going to double while their capital has been extinguished because of COVID 1. 0. right? We’re still dealin 2. 0 coming up this fall a travel restrictions, shel everything else that that organization and C. D. C. is going to have to be do

[00:11:51] Kirk Elliott PhD: Death knell for the U. S. Economy. If it doesn’t happen, economy still stinks, right? But, but during COVID, the first COVID, [00:12:00] what happened to businesses in America? They extinguished their rainy day fund. Like they used it. It went down to zero just to survive because nobody was buying, nobody was going to restaurants.

[00:12:10] Kirk Elliott PhD: No, you know, I mean, they, they used all of their available capital just to survive. So now you come to this crisis. They’ve got no money. They’ve got no savings, no money on hand, no rainy day fund because they’ve already spent it all. And now if their loans come due and they have to refinance, it doubled the rate of 12 months ago, file for bankruptcy.

[00:12:33] Kirk Elliott PhD: There is no other option, right? So I think the bankruptcies in 2024 are the biggest story that nobody’s talking about yet. But, but I think that it’s going to happen like making 2009 look like kindergarten. Right. Because, and this is going to be very detrimental to the U S economy at a time when the inflationary prices are going through the roof, when oil is going through the roof because of this Israeli Hamas [00:13:00] conflict and other and other things.

[00:13:02] Kirk Elliott PhD: But, but now. We have to ask ourselves this, how are policy makers going to try to fix this? So, so Janet Yellen, earlier in the week, said higher, I mean, now everyone’s, you know, using this, this catchphrase on, on mainstream media, um, higher rates for longer, right? So, So basically they’re going to, she said they’re going to raise rates one more time and then they’re going to pause, right?

[00:13:28] Kirk Elliott PhD: So, so this is a very gentle way of having the messaging people’s minds thinking, sweet, Justin, did you hear that? They’re going to be able to pause interest rates. They just actually won the war on inflation. They don’t have to keep raising them. Isn’t this good, right? I mean, that’s the message that they’re trying to get across and they say they’re going to pause rates.

[00:13:49] Kirk Elliott PhD: But here’s the reality jacking up interest rates one more time, which Jerome Powell is speaking today. And it’s going to be a very interesting conversation because the 10 year [00:14:00] yield just hit 5%, right? Or very close to it, like fractions of a percent away from that. Right. So, so that’s big. Because for one true telltale sign that an economy is in recession and there’s immediate danger to the economy is by looking at interest rates, right?

[00:14:20] Kirk Elliott PhD: So, so people say, how could you tell by doing that? So, So take this into the consideration. If you’re buying a house, Justin, um, and you’re looking at your mortgage rates, it’s like, okay, a 30 year mortgage is going to have a higher interest rate than a 15 year mortgage, right? Why? Because 30 year mortgages have a lot of unknown risk time element wise.

[00:14:45] Kirk Elliott PhD: It’s like, who knows what the economy is going to look like 30 years from now. Who knows if Justin Barkley is going to have a job. 30 years from now, who knows what the housing market’s going to do? Who knows if the, if wages are going to be up or down, we don’t know anything that we don’t even know what’s going to happen tomorrow.

[00:14:59] Kirk Elliott PhD: [00:15:00] Right. So, so higher interest rates on longer duration loans, almost always. except for right now. See, right now, shorter term loans and notes have higher interest rates than longer term ones. It’s called an inverted yield curve. So what does that mean? That means they think there’s something right on the horizon that’s very dangerous, that they have to have higher rates for short term because down the road, It’s bound to get better than what it is right now.

[00:15:32] Kirk Elliott PhD: So that inverted yield curve tells us there’s immediate danger for the economy. That’s why rates on short term duration loans are higher than long term duration, right? So, so you’ve got that going on. Janet Yellen said they’re going to raise rates one more time and then plateau. At higher rates, that’s not a soft gentle term.

[00:15:53] Kirk Elliott PhD: So this is saying we haven’t won the war on inflation In fact, we’re going to raise rates one more time and then we’re going to pause [00:16:00] at these higher rates, right? So we’re going to have higher rates for a long period of time now Couple that with what the european central bank did. So the european central bank said similar language, but it’s way worse.

[00:16:14] Kirk Elliott PhD: So they, the European Central Bank is, here’s their words. They’re going to preserve peak rates until the second half of next year. So preserve peak rates. That means rates right now, it’s like highest they’ve ever been, right? Peak. And they’re going to preserve them. They’re going to keep them there. They just said the same thing that Janet Yellen did just in more extreme language.

[00:16:38] Kirk Elliott PhD: We’re going to preserve peak rates until the middle of next year. Janet Yellen raised rates higher for longer, right? So, so this tells me they have not won the war on inflation. People at the fed, people at the European central bank, they know this. And now they’re seeing the Israeli Palestinian conflict happening or the Israeli Hamas conflict happening.[00:17:00]

[00:17:00] Kirk Elliott PhD: And the oil prices are going to start to go through the roof because of it. They haven’t tackled inflation at all, at all. Right. So, so this is where we’re headed into the next, um, I would say few months to election time, we’re going to be dealing with this, right? So, so now the political upheaval, that comes from this is big too, because this is why McCarthy got the boost out of speaker of the house was because of the debt.

[00:17:32] Kirk Elliott PhD: Right. They, they, we wanted to, you didn’t actually buckle when they basically are raising the debt ceiling. Right. So it’s like, ah, out you go. And then they’re bringing in, you know, Sclee. So it’s like, oh, that didn’t work. And so now Jim Jordan, it’s like, okay, why can’t, why can’t the GOP just pick somebody and get done with it?

[00:17:50] Kirk Elliott PhD: I mean, really, is it that contentious? Well, it is when, when the government’s run out of money. Right. Right. And, and you’ve got politicians that keep spending like drunken [00:18:00] sailors. So that’s right. And

[00:18:03] Justin Barclay: they want to keep, they want to keep that going, which is, which is what this is all about. I mean, watching all of this and what’s going to happen in the course, uh, it looks like we’ve got a temporary bandaid fix that may come, but again, we’re probably going to get a CR or another omnibus or something like that down the road that will just continue us on that disastrous path that you’re talking about.

[00:18:23] Kirk Elliott PhD: We, we will. And. Yeah. And I mean, there’s no doubt in my mind because they always keep voting this stuff. And now Jim Jordan, I think would be a thorn in their side, which is probably why there’s contention there. Um, so, so, but, but how big of a thorn, right? So why, why is he a thorn? Well, because he’s being responsible for the first time in such a long time.

[00:18:46] Kirk Elliott PhD: His ideas are. So if you look back to the beginning of our country, 1776 to when Reagan became president in 1980, what was our, what was our federal debt? Then it was like 900 and something billion, [00:19:00] less than a trillion dollars. So 1776 to 1980, that’s 204 years. It took from to go from zero to a little bit less than a trillion.

[00:19:12] Kirk Elliott PhD: Well, in the first 10 months of this year alone, the federal debt has grown by 1. 5 trillion. So already in the first 10 months of this year, 50 percent more. Then what took the first 205 years of our country to accumulate, they did it in 10 months and then added 50 percent more than that. See, politicians have gotten used to a false world of looking at the economy and a balance sheet different than what you and I would as, as family, right?

[00:19:46] Kirk Elliott PhD: So as a family, if, if we’re about to go bankrupt, do we sit down with our spouse at the dinner table and say, I’m sorry, babe, but I’ve been spending money like there’s no tomorrow. You just didn’t realize it. We’re, we got a file for [00:20:00] bankruptcy, right? So, so then you sit down, you plow through it and it’s okay.

[00:20:05] Kirk Elliott PhD: We’ve got to cut expenses. Let’s not get to that point. Right? So, so, oh, so on that page that you’re on that time machine button at the top, click the red button, the backwards one, and look at 1980. That’s when Reagan became president.

[00:20:25] Kirk Elliott PhD: 918 billion was the national debt. Wow. There you go. Isn’t that wild? I mean, to think that took 204 years to accumulate that and look what we’re doing right now. It’s just insanity. So so anyways, as a family, we would cut expenses right before we go bankrupt. As politicians, they never look at their spending side because they have a printing press.

[00:20:49] Kirk Elliott PhD: Let’s just raise the debt ceiling, right? So continue to raise the debt ceiling, right? They, they only look at that side, which causes the inflationary pressures and the debt that we’re seeing. So this is a [00:21:00]problem that if Jim Jordan is speaker of the house, he’s gonna have to deal with whoever is speaker of the house.

[00:21:09] Kirk Elliott PhD: They’re going to have to deal with and, but for crying out loud, if the Republicans decide to get the progressive communist Hakeem in there, it’s like, what are you joking? Why in the world would you name a Democrat speaker of the house when you control the house? I mean, this is, this is insanity, right?

[00:21:28] Kirk Elliott PhD: But, but nobody can get along. Right. Nobody is actually trying to actually fix the economy. They’re not that I’m telling you that if they were trying to fix the economy, they would slash spending. They’re trying to put a bandaid thing, bandaid on it and trying to get votes because politicians a long time ago stopped looking at people.

[00:21:53] Kirk Elliott PhD: As people and started to look at people as votes and they can just vote large ass out of the treasury, you know, [00:22:00] from down the road and mortgage future generations of, you know, not a financial future down the road to keep getting votes. Now, see, this is the nature of politics, which is why we have 34 trillion worth of debt.

[00:22:11] Kirk Elliott PhD: This is the problem that we have right now and why you and I, every single week talk about solutions, right? We have to identify the problem to, you know, to bring a solution. The solution is. Boy, I would allocate into tangible assets like gold and silver because they’re things things go up with inflation Everything we just talked about is very inflationary And you want to get out of digital money because it’s it’s you know, that’s central bank digital currency They want to cut you off from buying or selling if your ideology doesn’t match up You want to get away from paper that’s easily manipulated.

[00:22:46] Kirk Elliott PhD: Go into something that’s tangible, something that’s real, something that’s not leveraged. And that’s where gold and silver come into anybody’s portfolio.

[00:22:54] Justin Barclay: So I know a lot of folks are going to have questions, uh, again, like they always do. We’ll give you a [00:23:00] chance to ask them, especially if you’re watching right now, as always, and locals are a folks who are subscribers there get the first crack at those.

[00:23:07] Justin Barclay: And you can ask your questions, go ahead and drop them in the chat. But as always, Uh, you know, we find ourselves in this weird place where it’s always something. It’s like drinking from a fire hose. This is the fear that we’re constantly bombarded with. We never want you to be in that place. We never want you to be afraid.

[00:23:23] Justin Barclay: We want you to be prepared, not, not scared. And, uh, so we want you to be able to make the best decisions for you and your family. The best way to do that, you can reach out, you can ask Kurt a question. If you’d like, uh, you can jump on the website, justinbarclay. com slash gold, and he’ll be happy to answer your questions there.

[00:23:41] Justin Barclay: You can give him a phone call as well. Kurt or the rest of the team will be happy to, uh, to walk you through it. Kirk Elliot, PhD. So Kirk, um. Let’s talk about some of those things. Somebody’s got a good question. I think it was Shelly here in the chat. Wants to know about presidents Here in the country and the [00:24:00] history with the Federal Reserve.

[00:24:01] Justin Barclay: Why don’t we just get rid of that thing?

[00:24:05] Kirk Elliott PhD: It’s I mean abolish the Fed. It’s been tried before. Ron Paul has been trying to do that forever, right? When he was congressman It’s it’s tricky I mean, I think, I think Kennedy wanted to try to do that. Lincoln wanted to try to do that. Reagan wanted, you know, was talking about that.

[00:24:22] Kirk Elliott PhD: It’s like, okay, what’s the common denominator? It didn’t turn out well for them. Right? So, so here’s where the Fed, their, their holdings are unauditable. Right? So, so You start with auditing the Fed and see what they actually have, but I’ll tell you what they’ve got. They’ve got a ton of toxic assets on their balance sheet, right?

[00:24:44] Kirk Elliott PhD: So, but here’s where, because they own more U. S. Treasuries than any, any entity on the planet, Treasuries are going the way of the dodo bird because countries after country after country are selling them, liquidating them, getting out of U. S. Treasuries, which [00:25:00] puts downward pressure on it, right? So, so how do you?

[00:25:04] Kirk Elliott PhD: Well, you have to have an alternative system and in place, which I think we’re getting to that point, right? This is where I think states rights are really starting to manifest themselves. And you’ve got States like Texas that are, that are, you know, legislating for a state chartered central bank backed by gold.

[00:25:20] Kirk Elliott PhD: That’s awesome. Seven other States have already legislated. The gold is legal tender and those States that’s amazing, right? So, so here’s where we can. ultimately have a solution. That will, that will bypass the fed. Now, what, what they’re bringing, they being the globalist, the world economic forum, the fed, you know, the, basically their solution is central bank, digital currency.

[00:25:44] Kirk Elliott PhD: Yeah, we agree with you people. Let’s get rid of this paper money in the fed and let’s have central bank, digital currency. Same people, different pocket. Running the show. All you lose is privacy and freedom that way. Right. Rather than just your money. So, so the only thing that [00:26:00] we can really do financially is start to pull out of that system, go into things, tangible assets like gold and silver to protect and preserve your freedom.

[00:26:08] Kirk Elliott PhD: And, you know, just like any other investment, there’s times when they thrive times when they come down, what causes gold and silver to go up on sustainable debt, inflationary pressures, political chaos, geopolitical conflict. Yeah, all of them. Do we have them in spades? Yes, we do. Right. So time and place for everything.

[00:26:28] Kirk Elliott PhD: I would, I would look into tangible assets to protect an inflationary world.

[00:26:34] Justin Barclay: Everybody’s going to have their own questions, obviously, custom for each other. I think that’s, each one of us is going to have certain things that we’re facing, and I’m maybe not as far along. Maybe you’re ready for retirement.

[00:26:46] Justin Barclay: You’re trying to figure out what exactly you need to do now. Uh, each of us is at a different situation. That’s why you want to reach out. Happy to walk you through it. One of the great things I love about Kirk and his team Is the heart of a teacher, they are willing to walk with you through it all. [00:27:00] And if you have those questions, you can always ask justinbarclay.

[00:27:03] Justin Barclay: com slash gold. And I know, uh, we’re coming up on our time here, Kirk, but I just want to ask you, um, again, this is like in the crystal ball out and trying to figure out where we are, where we’re going. We don’t know what’s going to happen tomorrow, let alone down the road, but what’s all this chaos swirling right now.

[00:27:23] Justin Barclay: What are you watching? Particularly closely right now that maybe we should keep our eye on in the next week or so.

[00:27:30] Kirk Elliott PhD: I mean, I’m watching the price of oil and I’m, and I’m also watching the conflict with Hamas and Israel. I mean, how many other countries get involved? What kind of, you know, what kind of coalitions are established?

[00:27:46] Kirk Elliott PhD: Because what you’re seeing is, is a lot of the, um, oil producing nations, which tend to be centered in that part of the world, are aligning against the West. Right. That’s going to cause oil prices to go through the roof. They know that’s [00:28:00] exactly how you get to America is remove the petrodollar cause the price of oil to go up.

[00:28:06] Kirk Elliott PhD: You know, by the way, Biden over the last couple of years has, has basically used. All of the strategic oil reserves,

[00:28:14] Justin Barclay: at least we have some of that left. No, it’s all pretty much

[00:28:17] Kirk Elliott PhD: depleted. Right. So, so this is where I think the other countries in the OPEC and in those BRICS nations know that it’s like, Hey, let’s cut production.

[00:28:25] Kirk Elliott PhD: Let’s cause prices to go up right away. They have to replenish this and we can make money. It will hand over fist where America. We’ll lose money hand over fist because they’re not energy independent yet. They’re still dependent on foreign oil, which is them, right? So they’re playing this game masterfully.

[00:28:41] Kirk Elliott PhD: So anyways, what I’m looking at is oil prices. I’m looking at how the conflict escalates. Um, We’re also looking at what happens with the interest rates like right now. Watch the language that starts to come out because they’re going to soften it. They’re going to make it sound like it’s good. But when you raise rates and then [00:29:00] pause at those high rates, it’s going to be very detrimental to the economy.

[00:29:04] Justin Barclay: We’ll keep an eye on all of this for you. And again, uh, about another week or so we’ll be back with Kirk. And of course, the economic updates is always keeping you on track. Justinbarclay. com slash gold. If you want to find out more about how you can get those custom answers from Kirk, always a pleasure.

[00:29:19] Justin Barclay: Kirk Elliott, PhD. Thanks. Appreciate you being here with us today, brother.

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