Episode 4273: Bringing Strength Back To The US Economy
Episode Stats
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Summary
On this episode of the War Room, Stephen K. Banno talks about the latest in the war machine, and what it means for the future of the United States. He also talks about a recent article from Newsweek on the cost of our wars in the Middle East, and the massive amount of money wasted on them.
Transcript
00:00:07.340
Pray for our enemies, because we're going medieval on these people.
00:00:12.580
I got a free shot at all these networks lying about the people.
00:00:20.200
I know you try to do everything in the world to stop that,
00:00:24.140
And where do people like that go to share the big lie?
00:00:28.440
I wish in my soul, I wish that any of these people had a conscience.
00:00:34.320
Ask yourself, what is my task and what is my purpose?
00:00:38.080
If that answer is to save my country, this country will be saved.
00:00:53.440
So Newsweek just came up with a piece, and if Denver can get it, it just printed, and I put it up on Getter.
00:01:03.360
By the way, make sure, if you want to see my stream of conscious thoughts on different topics,
00:01:11.680
I use it because, well, besides the fact that we're banned everywhere, it's very easy for me to use
00:01:17.820
because I'm a technological, not on the cutting edge, let's say.
00:01:27.420
And I think if you talk to people that are on Getter, they'll tell you it's easy to use,
00:01:40.560
But the app works for me on the different devices.
00:01:46.400
From last night, the 5 o'clock show, I think it was, Andy Biggs came on.
00:01:51.520
It might have been the morning show because I don't think Andy could come back on in the afternoon.
00:01:56.060
It was a morning show, and we talked about the CR because a lot of noise going on.
00:02:01.220
And you've got this reconciliation process, and that's where they're spending all the time.
00:02:11.420
And this is where it's going to be one or two, one big beautiful or two,
00:02:14.620
and, you know, it's got to get the border thing in there and the deportation.
00:02:18.920
That's $175 billion addition to everything we spend.
00:02:23.360
You don't think people will be held accountable for that?
00:02:25.480
You don't think people ought to go to jail for that or what they did?
00:02:27.660
The country takes you $175 billion to sort it out.
00:02:32.120
Another $100 billion even in there to the Pentagon.
00:02:37.180
I'm not a dove by a long shot, but this thing's out of control.
00:02:46.660
Hell, Tej gave the better part of his life either in the service of his country as a SEAL or in the service of his country as a contractor,
00:02:56.300
They basically have to get the retirements and the medical off the balance sheet.
00:03:00.040
They went to these contractors, guys doing the exact same thing.
00:03:07.920
$7 trillion for Iraq and $2 trillion for Afghanistan.
00:03:15.720
What would the country be if you had that $9 trillion and put it back into the country?
00:03:19.980
You have to look at everything as an opportunity cost.
00:03:25.340
You know, is the opportunity cost, because it's not unlimited anymore.
00:03:29.560
They've dealt with this like we have unlimited amount of money.
00:03:33.880
We're creating massive amounts of fiat currency all the time just to paper this over.
00:03:39.540
It's the reason gold, Philip Patrick's going to be here at the bottom of the hour.
00:03:43.860
I've asked him to call in a day and talk about this exact topic, this, what are the forces?
00:03:53.680
This is what we're here to do at this show, not to give you a fish, to teach you how to
00:03:58.700
fish, to teach you how to think for yourself, how to, how to, and all this, you know, noise
00:04:04.500
and everything's coming at you every day, ba-ba-ba-ba-boom, right?
00:04:08.540
What are a couple of things that you've got to say, okay, I've got a framework.
00:04:14.340
So new information comes and I can sort it out.
00:04:19.720
Ideas do have consequences, massive consequences.
00:04:23.680
The things that started just an idea and all of a sudden rolls through the system, like
00:04:28.980
the American Revolution, like the French Revolution.
00:04:36.780
The Valley Forge and the guillotine right there in the middle of Paris.
00:04:42.660
Ideas have consequences because in understanding the ideas, you can then begin to use your agency.
00:04:54.040
You notice that MSNBC, they're all talking about agency now.
00:05:00.960
Having treated their people like cogs in the machine, now they're, because the credential class,
00:05:07.240
then you got to drop down to the plebeians because they don't care about the working class.
00:05:16.700
Check back to me in a decade about how that's working out for you because you don't care.
00:05:23.780
But that's the purpose of this platform is for your agency.
00:05:30.040
One of the things we're going to start doing at CPAC,
00:05:32.400
I want to have a conversation on the day we're there for the force multiplier particularly.
00:05:41.360
It's about the precinct strategy, where we are, because the people in the precinct strategy,
00:05:45.820
now that you're engaged in it, you understand how the established order in these states
00:05:50.760
are not prepared to just welcome you with, you are actually the cavalry arriving
00:05:58.180
And in this case, the homesteaders are not embracing you.
00:06:05.160
It's Georgia, South Carolina, North Carolina, Texas, Arizona, all over, every state.
00:06:10.840
But particularly there's these states that are key states, central states,
00:06:16.820
and the fight there is fierce because they're not interested in your agency.
00:06:21.020
They just want you to sit down, shut up, and do what you're told.
00:06:33.920
Remember on the afternoon of 20 January 2021 when Trump got back to Mar-a-Lago
00:06:51.300
Joe Biden just had his deal, and they were all,
00:06:53.580
the CNN guy saying, look at the reflecting pool.
00:07:00.760
Remember that clown who's still there, by the way,
00:07:16.180
Let's get a rally point, just like any army that kind of takes one.
00:07:25.180
Let's understand what's going on here, and we're going to win this fixed bayonets,
00:07:28.540
and let's get the hell down that hill and start fighting again.
00:07:34.940
You've got to be able to sift through, boom, what are the driving forces?
00:07:40.020
One of the powers of this is that the Doge element has been tremendous.
00:07:46.700
delivering blunt force trauma against the administrative and deep state.
00:07:51.640
Then how do you weave it into something that's real?
00:07:56.220
I mean, you know, programmatically taking things down and cutting costs,
00:08:03.200
and looking for efficiencies and effectiveness,
00:08:09.320
Tej, you've been in the wars of the Middle East your entire adult life.
00:08:12.680
You kind of, no offense, dedicate your life to save your country
00:08:21.940
When Afghanistan and Iraq was taken from them, hell,
00:08:26.700
They're in the same neighborhood up there in the Ukraine.
00:08:36.600
If you come in and want to shake your dad and say,
00:08:38.440
hey, look, I think the way you think it through,
00:08:48.920
I tell you what, we go down your path and keep spending a trillion dollars
00:08:52.140
and have people everywhere and you can't recruit guys now
00:08:55.180
because the parent's not so sure it's worth it and it's all woke.
00:08:59.540
Then you're going to get in a bind and you got this debt
00:09:01.980
and now you got a national security problem with the amount of money we owe
00:09:05.440
and who we owe it to and how much it's costing us because it ain't free.
00:09:11.740
And tell me, and what I need more than ever is a hot, great cup of black coffee today.
00:09:19.740
My presidential transition project, just to blow your heads up,
00:09:23.600
all the liberals, all the progress watchers, Project 2025.
00:09:33.940
You're seeing the Project 2025 and all of it, you know,
00:09:36.800
the American Brooks Rollins and Stephen Miller and the CRA guys,
00:09:41.440
particularly our boy Russ Vogt, they're hammering away at this thing nonstop.
00:09:47.260
Tell me about the champagne of coffee, brother.
00:09:49.460
On a Saturday morning, I need a big mug of hot Warpath coffee.
00:10:02.620
but basically my whole adult life in Iraq, Afghanistan, Africa,
00:10:07.060
and in the SEAL teams, you know, we always had top-of-the-line gear,
00:10:11.460
top-of-the-line guys, and I carried that over to my businesses.
00:10:15.500
So the coffee, I wanted a really, really good cup of coffee.
00:10:21.940
And actually, the first time I had a really good cup of coffee was in Ramadan in Kuwait,
00:10:28.360
And I never had a cup of coffee like that until that day.
00:10:32.640
That was the first time I actually drank a really good coffee.
00:10:35.080
So I decided to try to find an amazing coffee that you can drink black.
00:10:41.080
You don't have to, you know, dump a bunch of milk and sugar and crap in there to hide the burnt taste.
00:10:47.080
So we figured out how to roast the coffee and caramelize the beans and not burn them.
00:10:55.480
And you can see on our website we're approaching 7,000 five-star reviews.
00:11:06.680
We just keep increasing our roast sizes, and it just keeps flying off the shelf.
00:11:12.680
For the War Room Posse, the promo code is WARROOM, and you get 20% off.
00:11:26.160
The Mariner's Blend, of course, we made for you, Steve.
00:11:51.540
And, of course, we have the flavored coffees, the K-cups, and then the mugs.
00:11:55.320
We actually have a victory mug for Donald Trump.
00:12:03.160
We just put those on the site yesterday morning.
00:12:08.760
Yeah, I just sent a case of them to you, Steve.
00:12:17.000
Listen, I want to go back to something that's important.
00:12:24.900
I know people put cream of sugar, but you put cream of sugar because it's the acidic kickback.
00:12:29.620
Here, this is what, Tej, and look, we've had every coffee guy in the world.
00:12:33.740
There's some really strong, good coffee folks out there.
00:12:37.240
But we were looking for something since we are so, we have such a coffee addiction, let's be honest, right, that we had to, you know, we wanted to wait for the perfect one.
00:12:46.460
And Tej, I've known for years, and he's so obsessed by this.
00:12:50.380
And then we've worked for another 18 months or almost two years on the dark roast, and it's just rolling.
00:13:12.460
The website is warpath.coffee, and it is amazing coffee.
00:13:25.440
I told an advertising agency guy that the other day, and he did not believe me.
00:13:30.940
So I actually showed him the numbers, and he was like, wow, that's crazy.
00:13:38.240
I know that because I get feedback all the time, and I love it.
00:13:53.760
20% off, and then free shipping for orders over $70.
00:14:04.680
They were trying to cut the cost of retirements, and they're trying to cut the cost of health care.
00:14:09.980
Because they could see that these wars in the Middle East were blowing up out of control financially.
00:14:13.440
The ticking time bomb on our national security right now is the debt, and the interest on the debt.
00:14:25.480
It's going to make the decisions we have to make in health care, and in retirement, and for folks coming up.
00:14:39.660
You've got 18 million men, not in the workforce, able-bodied men, 18 million men in this nation, not in the workforce.
00:14:48.480
And we haven't created a net job in five years for American citizens, native-born American citizens.
00:15:11.520
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Okay, to go back to the matrix of the days of thunder, remember, let's go back to the big things that have to happen.
00:16:37.660
Stopping the kinetic part of the Third World War, number one.
00:16:44.800
To commence in the middle is the financial crisis, getting the federal budget cut, tax cut in there.
00:16:53.020
Appropriate tax cut, I might add, which is the tax cuts for the middle class and the working class.
00:16:58.200
And, wait for it, no tax on tips, no tax on overtime, and no tax on Social Security.
00:17:04.680
Anything else got to be, I think, well, this has to be justified, and it is justified.
00:17:09.260
But anything over and above that got to be, you know, put a sharp pencil on it.
00:17:16.840
Not seeing the corporate tax cut and not seeing the tax cut for the wealthy.
00:17:25.020
And you've got two processes, and we'll make it all, by the time we're ready to go fix bad nets, you'll see the whole picture.
00:17:37.560
I would say a concept to make sure you understand, and this is going to get constitutional quickly, because it's going to the Supreme Court of these United States.
00:17:48.620
And after March 14th, it's going to heat up big league.
00:17:56.320
And DOGE are going to be both cutting, and I think the way you jam the DOGE cuts, at least they've got the waste, foreign abuse, into this process,
00:18:03.520
is that in the, you know, April, May, June, July, boom, boom, boom times of this fiscal year, at the same time, in the building of the budget for the next year,
00:18:17.960
Those are going to take place in June and July in the summer, and DOGE will be in there programmatically.
00:18:24.660
It's the way, if you want to make it legal, right, which we do, because we want these things gone, and not to pay for them again.
00:18:33.940
This is just not some, this is not performance art.
00:18:38.760
At the same time, unwind yourself from Ukraine.
00:18:43.600
Unwind this, you know, get this thing sorted in the Middle East, and, you know, that is, you know, this Gaza thing.
00:18:51.180
Look, what the IDF has done to Hezbollah is nothing short of earth-shaking.
00:18:56.000
They defeated the Persian militias that have been the bane of everybody up in the north, and that's got to get sorted without dragging us into a further conflict there,
00:19:05.100
which anybody's talking about Persia and going into Persia is just dragging us into a future conflict, and it doesn't need to happen.
00:19:12.060
It doesn't need to happen, and just where the American people are, it's not going to happen.
00:19:19.840
As President Trump, we orients to this hemispheric defense, Monroe Doctrine 2.0.
00:19:26.520
You do that, and you start taking the financial crisis, which a lot is driven by being all over hell's half acre, then, hey, guess what?
00:19:33.440
In a year or two, you can see it's starting to stabilize.
00:19:37.560
Underneath that, the foundational element to drive that is this full-spectrum energy dominance, but stopping the insanity, the insanity of net carbon zero.
00:19:50.380
The same thing that's de-industrialized Germany and left them in the lurch right now.
00:19:56.300
You got Stoltz over there today, even as we speak, calling at the Munich thing, I think calling a national emergency of Germany to get more money to go to Ukraine.
00:20:06.400
Remember, they always told us, hey, we can't get to 2% because we have a constitutional amendment that says we have to have a balanced budget.
00:20:13.400
It said we'd like to have that, too, but unfortunately, we're defending you.
00:20:21.180
So much to do, and you're going to be the tip of the spear as we sort this out.
00:20:25.660
But days of thunder, President Trump will be hitting him with 10 or 12 on Monday and another 10 or 12 on Tuesday and another 10 or 12 on Wednesday, and it's going to keep going.
00:20:40.420
I want to bring in—and Trevor has not been on since I've been around.
00:20:55.040
He's working 18, 20 hours a day in leading us through here.
00:21:08.840
And I know I haven't been on in a while, so I just kind of wanted to touch on our mission a little bit for anyone who doesn't know.
00:21:14.080
But really, you know, since our inception about a year ago, we launched our product line really just in the hopes of providing people natural supplements at an affordable price.
00:21:23.200
And our main goal was always to help people kind of stray away from those big corporate brands that really just care more about profit than actual quality.
00:21:29.860
So at least with Sacred Human, we kind of saw from the get-go what a lot of these larger companies were doing and what types of ingredients they were putting into their products.
00:21:38.240
So in turn, we essentially went in the opposite direction to kind of find a better way to make healthy supplements.
00:21:44.580
So unfortunately, what we do see is that a lot of these larger companies will advertise healthy products.
00:21:52.360
But many, if not most, will then go ahead and include things like preservatives, artificial additives, food dyes, binders, and just overall ingredients that may do things like cut costs and extend the shelf life.
00:22:04.820
But they're not really doing your health much of or any favors for that matter.
00:22:09.080
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00:22:40.080
So things like choline, K2, selenium, as well as copper.
00:22:43.760
Now, on top of that, we have some new products that are on the way.
00:22:50.240
But currently on our website, we also have an all-natural sleep supplement, a multi-collagen, which is great for skin and hair, magnesium and vitamin D, which I also recommend because most people are deficient in magnesium as well as vitamin D, especially during the colder months.
00:23:07.500
And like I said, some other new products on the way that I can't talk about quite yet.
00:23:16.500
But how do people – our audience is information intensive.
00:23:23.880
I want to make sure they can drill down on this because once you get a War Room customer, they stay forever, right?
00:23:30.280
But they want to make sure that they understand this.
00:23:32.320
So where do they go to get all this information?
00:23:34.360
And are you available to answer questions online or do you have forums or do you play 20 questions?
00:23:43.260
So first of all, you can go to sacredhumanhealth.com.
00:23:45.700
That will take you straight to our website or you can just plug in Sacred Human to Google.
00:23:54.780
We kind of give you a rundown of what's in the product, the different benefits that are included.
00:23:59.660
And then, of course, you can go ahead and look at our reviews.
00:24:01.440
And to your point, too, Steve, our customer attention is great.
00:24:05.840
We got our start with the War Room, so I can't thank you enough.
00:24:24.460
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We'll respond back to you within 24 hours and make sure we get all your questions answered.
00:24:53.220
Trevor Comstock, CEO, founding CEO of Sacred Human Health.
00:25:25.180
And we are searching for a way to deal with this.
00:25:34.740
And he just keeps, he keeps moving with one stupid thing after another.
00:25:40.600
I, you know, maybe some of our, well, I'm struggling here a little bit.
00:25:46.900
So, maybe some of our really smart viewers can help us untangle it a little bit.
00:25:51.920
It's really tangled now because it's, no one knows where to land.
00:25:59.000
And, and it, things that we thought that would kill a political career that would be poisonous for whatever reason, this guy keeps chugging along.
00:26:23.100
And not just follow-ons to things that are happening.
00:26:25.740
And plus, remember, when these initiatives launch, there's tons of people in back working nonstop.
00:26:35.700
So, you have people, you know, so many team members, boom, are on this.
00:26:46.060
We're going to get, you know, we're going to get chop block.
00:26:47.880
You're going to get slowed down by the federal courts.
00:26:55.100
Even Schumer, they don't even have a response right now on the, on the CR.
00:27:03.800
You look at them, they're, they're in the mumble tank.
00:27:05.400
I mean, Rachel Maddow's trying to, they got her back every night.
00:27:20.260
Derek Adams saying, if James went to federal court.
00:27:27.100
The engine room of all transactions, Manhattan.
00:27:48.340
The central banks of both our friends and our enemies are buying it at record rates.
00:27:56.060
What does it mean for the financial future of this country?
00:28:06.400
We've seen all the headlines, cyber attacks on our power grids, drones in the sky, violent attacks on everyday Americans.
00:28:32.620
The ugly truth is no leader, no system can protect you from everything.
00:28:38.140
And the last thing I want is to be standing in line depending on help that may never come.
00:28:43.900
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00:29:44.760
Of course, as we've been going through last night and today about talking about the – just the reality of this – the inability of the political class to really cut the budget.
00:29:55.600
Now, I understand a lot of people have been doing work on the overall reconciliation of the budget.
00:30:00.180
But look, we're in a crisis, and there's still a lot of fantasy.
00:30:04.400
A lot of this is – and I understand it's mandatory spending, so they're going to change mandatory, and it is a couple hundred billion dollars off.
00:30:13.400
But just think back in Doral, just two weeks ago, the Republicans by themselves came up with $30 billion a year cuts on a $6.5 trillion budget.
00:30:29.160
But in the interim, you know, you've got the BRICS nations are sitting there going, hey, if inflation is still there at 3 percent, and until we get our control of our spending and the refinancing of this, I just don't see how that's going to go down much lower.
00:30:44.880
So they're still going to sit there and argue that their purchasing power is being hurt.
00:30:50.000
And there's still going to be pressure with these people throughout the world with the resources to come up with some alternative to the dollar.
00:30:56.860
They start now – as the geopolitics get more and more – it gets scarier.
00:31:02.180
People always want the flight to quality, and they know they can get a dollar, where if they get some basket of currencies, it could turn into Confederate dollars for them.
00:31:10.280
That's always one of the power of being the prime reserve currency.
00:31:12.920
But, you know, you have to, I think, understand the process, and I asked Philip today to change up his schedule and join us because, Philip, just the reality is you don't see the political will right now.
00:31:25.840
Even with Elon Musk running around, and Elon Musk gave us the biggest shout-out ever in the Oval Office that day.
00:31:34.080
We can't continue these $1.8 to $2 trillion annual deficits.
00:31:38.600
That's one of the reasons he's volunteered his time to cut the – to take a crack at doing these audits, to cut the waste, fraud, and abuse in the administrative state.
00:31:47.060
But it's certainly just not going to be enough.
00:31:49.080
We're going to continue to point – to print more fiat currency.
00:31:52.640
And your theory of the case to me has always been the best.
00:31:54.660
You kind of go back to Mel Freeman and go, hey, look, you hear supply change drop in aggregate demand.
00:31:59.760
That's got to be – you know, you have to have these Keynesian fixes.
00:32:02.360
But the bottom line is we still pump more fiat currency into the market.
00:32:07.360
So you're always going to have more dollars chasing fewer goods.
00:32:14.000
And the counterbalance of that is that's why gold's a store of value.
00:32:18.740
Because I think this pattern recognitions what helps people – it's not so much what the price of gold is at any one time.
00:32:25.300
It's the process for what continues to make gold a store of value, an alternative store of value, sir.
00:32:34.260
And that's why addressing deficit spending is the number one priority for the administration.
00:32:41.560
It's going to be a very, very difficult job to achieve.
00:32:45.440
We're cutting a billion dollars here, a billion dollars there.
00:32:56.220
And as you say often, we're going to continue to run deficits, we're going to continue to amass debt, and we're dependent on the world continuing to finance that.
00:33:08.500
Factor in weaponization, factor in the bricks now, incentivize to start looking for alternatives.
00:33:18.120
And it's largely why we're seeing gold prices just moving up and up and up in this climate.
00:33:24.180
We expect it to continue as the problem continues to build.
00:33:35.500
And once again, and correct me if I'm wrong, have we just posted another month with another record for gold purchases by central banks?
00:33:48.340
Demand is really driving gold's price across the board.
00:33:52.060
Central banks bought more than 1,000 tons of gold for the third consecutive year in a row.
00:33:58.000
So we've just seen the three biggest years of central bank gold buying in history, one right after the other.
00:34:06.240
And the catalyst is everything we're talking about, right?
00:34:09.580
It's devaluation of currency, making it less attractive for nations around the world to hold it, and ultimately weaponization.
00:34:17.660
Then Biden's weaponization of the dollar back in 2022 directly resulted in a five-fold increase in central bank gold buying directly, right?
00:34:29.460
And I think we've discussed many times why, but weaponization confronted every nation around the world with the fact that currency is just a promise.
00:34:38.840
And, of course, promises can be broken, but it isn't just central banks, right?
00:34:48.160
That includes both derivatives as well as physical gold coins and bars.
00:34:53.260
Technology demand grew as well with a boom in AI.
00:34:56.320
The only sector where demand didn't grow was jewelry, which I think makes sense given global recession fears.
00:35:04.600
But given everything in front of us, we expect gold prices to continue to rise.
00:35:10.080
Goldman Sachs came out with a projection, which I think is conservative.
00:35:14.560
They predict gold at 3,200 by the end of this year.
00:35:18.740
But as you say, in a way, price targets are irrelevant, right?
00:35:27.180
Gold's price today of around 2,900 would have been 2,388 in January of 2021.
00:35:33.920
Because in four years, our dollars have been devalued 21%.
00:35:38.460
Gold prices have risen almost exactly the same.
00:35:41.960
And it's for this reason that I think we'll see gold surpassing the previous inflation-adjusted highs that we saw back in 1980, which were the equivalent of around 3,240 today.
00:35:59.160
And I think that's what's going to drive gold today.
00:36:01.680
Back in the 80s, we were the world's greatest exporter.
00:36:15.800
And I think of all the reasons to buy gold, that's the big one.
00:36:21.840
Walk me through three years in a row, central banks.
00:36:28.940
You're saying this was started by Biden, the weaponization.
00:36:37.820
Last year, we got fourth quarter numbers in February.
00:36:42.940
So the velocity is increasing, and it's no surprise.
00:36:47.980
And you're not seeing any slowdown, even as we speak, into 2025, correct?
00:37:00.780
We're up 8% for this year alone, 42% last year.
00:37:14.140
That's why the Trump administration have made this a priority.
00:37:17.080
But it highlights, by the way, not to rent, but the absurdity of the previous administration.
00:37:25.240
There was no talk of deficit or debt or BRICS, none of it.
00:37:30.340
The rhetoric coming out of this administration is very encouraging.
00:37:33.960
The question is, do they have the time they need?
00:37:38.260
When you talk about 8% this year and 42%, so in the last 12 months, year on year, gold's
00:37:50.380
Gold is not like a speculative investment opportunity.
00:38:00.300
It's why, what happened to make it something that, hey, it's like a hot stock.
00:38:09.720
Listen, I was a banker prior to being in precious metals.
00:38:12.720
If you'd asked me in the early 2000s, you know, shall I buy gold?
00:38:16.920
I would have looked at you and said, are you crazy, right?
00:38:20.040
And all I would have had to do is look back at the 20th century, the 1900s, and say, look,
00:38:25.160
gold doesn't grow relative to something like the S&P.
00:38:28.380
See, this century, it's an entirely different picture.
00:38:33.100
Gold has outperformed the markets more than two to one.
00:38:35.880
Now, the suggestion is not that gold now grows better than other things.
00:38:40.520
What's interesting is what changed at the turn of the century.
00:38:43.620
It's when we massively started increasing the money supply.
00:38:47.320
So surprise, surprise, there is a direct correlation between growth in the money supply,
00:38:53.660
Put it into the context of the last four, eight, 12, 16 years respectively.
00:38:58.720
And I think it tells you where things are heading.
00:39:03.020
So President Trump comes in and he's putting his team in place.
00:39:08.880
But you look at the CBO, the Congressional Budget Office, and it's not that we sign off
00:39:15.020
They actually have differences in what's called dynamic scoring and non-dynamic.
00:39:19.740
But directionally, they're pretty good when you look at directionally.
00:39:24.060
They just put out a report Friday a week ago that showed 10-year projections.
00:39:29.160
And they're required by law to do this on a regular basis.
00:39:32.280
The 10-year projections essentially show roughly, I think the average is 1.8% growth.
00:39:38.920
So growth through the American economy is under 2%.
00:39:42.340
And it also shows us running still massive deficits in the neighborhood of $2 trillion
00:39:49.480
And by the end of 10 years in 2035, we have $52 trillion in debt.
00:39:56.160
And I think we're paying over $2 trillion a year, $2.5 trillion a year in interest expense.
00:40:01.380
Now, assume for a second that those numbers are accurate.
00:40:05.640
Let's say they've really done a great job, and that's actually the forecast, and nothing
00:40:09.280
that MAGA or the Trump administration or anybody can do is going to change that.
00:40:13.560
What does that mean in the process of what's driving the value of gold and the price of gold?
00:40:19.620
What would be the implications to gold if those numbers the CBOs put out are accurate?
00:40:26.320
I mean, the implications for gold are very good.
00:40:32.200
Look, that would put debt service payments at 50% of total tax revenue.
00:40:39.440
And at that point, we end up in a position where we create more debt to service existing
00:40:48.940
And of course, we know what that does to gold prices.
00:40:52.020
Like I've always said, sky's the limit for gold prices.
00:40:56.520
As you know, Jim Rickards has been calling for gold at $10,000 an ounce for a while, and
00:41:02.480
I think his issue has simply been timing because it's a reflection, as he sees it, of currency.
00:41:08.560
And in his mind, when gold's at $10,000 an ounce, we pay $200 for a loaf of bread.
00:41:13.900
This is possible, and it's the trajectory that we're heading on.
00:41:18.660
Now, I tell Jim, if that forecast is correct, welcome to Thunderdome.
00:41:32.460
What would have to happen, the intervention we need, in order to do something that you
00:41:40.700
think, hey, the gold market and the currency market would say, okay, there are people in
00:41:57.520
If those are the 10-year numbers to get to $52 trillion, what, and you know gold will
00:42:02.040
explode if you go down the route, what is the countervailing?
00:42:06.600
I tell you what, let's take a break because I'm going to play Billy Joe Schaefer, my favorite
00:42:11.320
song in this block to take us out, Get Behind Me, Satan, one of my favorite songs.
00:42:17.300
I think it's great for a Saturday where we're talking about the financial burning to the ground
00:42:21.300
of the burning platform of the United States of America, and the reason is the political
00:42:25.720
class has just not gotten serious about cutting federal spending.
00:42:30.280
Cutting federal spending is right now the root of all evil.
00:42:33.960
We needed an increase in federal spending when the pandemic hit, when people didn't really
00:42:38.100
You had the massive drop in aggregate demand when everybody got shut in, and thank God we
00:42:43.600
had the ability and the wherewithal of the balance sheet to do this.
00:42:47.860
That was trillions and trillions and trillions of dollars ago.
00:42:52.160
That money's all been created, and it's coming back to haunt us.
00:42:59.460
We're going to be back in the warm in just a moment.
00:43:01.180
The demons that were in me had turned me wrong, said how I knew inside my soul I was headed
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But I couldn't for my life figure how to help myself.
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And I said, get deep behind this sin, for I command it in the name of the Lord Jesus Christ.
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And let's not even start on the natural disasters.
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Philip, we're up against the clock, and I want people to have access to you.
00:44:56.100
I know we've been getting people access to the product of investing in precious metals
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and gold during the Trump second term, Trump administration, or we call it the age of Trump.
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You can go to Bannon, B-A-N-N-O-N, at 989898 and get that document.
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What happens when people get in touch with you, you and your team?
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So we're big, as you know, which is, I think, why we work together.
00:45:22.760
So we have investment guides out on why to buy precious metals, guides on investing in precious
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metals under the Trump administration, which I think are really good, as well as, of course,
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the end of the Dollar Empire series written by yourself.
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I get such good feedback from our clients on that in terms of how educational, how understandable
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So I challenge everybody, get the reports, read the reports.
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From there, they'll have access to myself and many other precious metals specialists like
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Get reading, get educated, as I know your audience are, and I think the solutions will start to
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What we want people to understand is how gold moves vis-a-vis other currencies and really
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Once you know that, then you can think through as you go through.
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And Philip talks about the different things, the 401ks, IRAs.
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You at least have an overall picture of understanding what you're getting into.
00:46:40.760
Philip Patrick, social media, where do folks get you?
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I try and get out as much good economic news as I can.
00:47:16.580
Send me, you get the tickets of CPAC.org slash war room.
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It's going to be extraordinary force multiplier.
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We will really amazingly enjoy each other's company, as we always do.
00:47:37.240
People bringing me books to read, stuff that they've written, stuff they worked on.
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This CPAC is going to be about also specifically talking about the road forward, particularly
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against this resistance and how President Trump continues to push through.
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Some of the things he's done is just absolutely extraordinary.
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$76 to attend, which is just going to, I think it's going to be incredible.
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You've done such a spectacular job on the confirmations.
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Confirmations, think about it, Tulsi Gabbard's in, Bobby Kennedy's in, Pete Hexas's in.
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