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00:00:27.000You know, with all the cancellation and all the bad guys coming after people that are trying to tell the truth, when you support us at charliekirk.com slash support, you are saying no to cancel culture.
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00:01:26.000He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
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00:03:15.000Ledgers were usually administered in port cities where the mayor or the governor of the trading area would be in charge of the ledger.
00:03:29.000That ledger would show who owes money to whom when a transaction was facilitated.
00:03:34.000And ledgers were usually backed by gold, meaning someone would say that the city of or the port of Turks and Caicos or whatever is guaranteeing your purchase with 10 pieces of gold or 20 pieces of silver.
00:03:54.000Now, the barter system is really inefficient.
00:03:57.000And the gold standard, which was the standard for civilization, especially through the Industrial Revolution and the American Revolution, definitely has its advantages.
00:04:09.000But there are some disadvantages to the gold standard.
00:04:12.000The disadvantage to the gold standard is if you want to declare war or grow government, there's only so much currency out there that will allow you to seek those ambitions and those aims and those goals.
00:04:57.000Whoever better used energy won that battle.
00:05:00.000Whoever was better able to use technology won that battle.
00:05:07.000Now, after World War I, almost instantaneously, when World War I broke out, almost every country in Europe went off the gold standard and went to some fiat currency, almost instantaneously, almost immediately.
00:05:22.000In order to fund the war machine, they needed to get to some sort of floating or fiat currency.
00:05:30.000They began the process of debasing their currency.
00:05:35.000Now, in 1917, America passed the income tax.
00:05:40.000And also, we passed something called the Federal Reserve Act.
00:05:43.000This was passed by then-progressive former college president, head of Princeton University, Woodrow Wilson, which was the beginning stage.
00:05:52.000It set the framework of the central banking system.
00:05:58.000Throughout the 20s and 30s, it became more clear that in order to finance, especially the 30s, to finance FDR's massive government programs, we had to further debase and devalue our currency.
00:06:10.000And finally, Richard Nixon, he kind of slammed the door on a multi-decade project of ending the gold standard and transitioning to a fiat currency by basically going outside of anything that is backed by metallic or objective or finite value and went into an infinite value monetary universe.
00:06:38.000Almost every declining civilization participates in an inflation cycle.
00:06:47.000Copernicus, who is known not for his monetary theory, but instead for his scientific and Korean discovery, he famously said nations are not ruined by one act of violence, like 9-11 or Pearl Harbor.
00:07:01.000He says, but instead, nations are ruined gradually and in an almost imperceivable manner by the depreciation of the circulating currency through its excessive quality.
00:07:17.000It's tempting when you're running a country to want to increase the money supply.
00:07:23.000It's tempting because it's an easy fix, it's a sugar high.
00:08:20.000It might look like you're experiencing record growth.
00:08:23.000You might see massive price to earning ratios.
00:08:27.000You might see a stock market that goes to $35,000, $38,000 on the SP 500 or the Dow.
00:08:34.000But the question should be for the cooler heads in the room or the people that understand economics is: wait a second, what is the driving force behind this?
00:08:42.000Do we have an increase in value or do we have an increase in dollars?
00:08:58.000When in reality, those of us that track these things closely, we've known all along we've simply increased the amount of dollar bills in the supply.
00:09:07.000Now, that's not to say that no value has been created.
00:09:10.000In the immediate, when you have a lot of dollar bills, producers are going to try to produce more stuff because more people have more dollar bills to pay for things.
00:09:18.000But then as soon as that happens, all of a sudden, what happens when you run out of stuff?
00:09:21.000What happens when you're not able to fulfill the orders or to be able to produce the value at the equivalent pace of the people's demand with the dollar bills?
00:09:32.000And then you have to raise prices because you got less stuff.
00:09:34.000So you have more people with dollar bills try to buy less products.
00:09:40.000And not only do you have an increased demand, you have a decreased supply, and then prices go up that are correlated directly with that.
00:09:49.000A civilization that best channels energy wins.
00:09:54.000And a civilization that is able to maintain stored value can survive.
00:10:00.000If you're able to maintain the victories, the wins, the profits of a certain generation and pass it down to future generations, you're going to survive.
00:10:08.000This is why the Swiss banking system has survived since the Enlightenment.
00:10:14.000This is why the Swiss banking system will be around for the foreseeable future, hundreds and hundreds of years.
00:10:21.000They're able to store value for people.
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00:12:06.000We're living through a historic inflation cycle.
00:12:09.000And just now the media is starting to recognize and realize it, and they all have their own separate spin on that.
00:12:14.000To give you an idea of how severe what you're living through is the intentional debasing, the intentional destruction of your currency.
00:12:25.000Some estimates show it as high as 60%, but it's somewhere between 40 to 60% of all dollar bills ever created has occurred in the last year and a half.
00:12:37.000Half of all dollar bills have been reintroduced into the money supply in the last year and a half.
00:12:44.000Now, some people say inflation is right around 7%.
00:12:55.000We explained why supply chains are impacted by this.
00:12:59.000Inflation is likely much higher than that because the government gets to pick the basket of products of how they measure inflation.
00:13:08.000They get to bias themselves into that.
00:13:10.000So if you're just measuring how much Netflix subscriptions have gone up, if you're measuring things that at least have some downward deflationary pressure on them, largely in technology, then you'll be able to get to a 7% number.
00:13:27.000But if you look at meat and poultry, new vehicles, and household energy, three things that most American families need to survive, the average would be 11.9%.
00:13:43.000Now, this happened not just because of Biden, we have to be honest.
00:13:50.000There is a shocking 54%, according to the Wall Street Journal, increase in new spending since the virus and our response to it, our immature and inappropriate response to it in March in 2020.
00:14:04.00054% of new federal spending, of introduction of new dollars, that there is no gold backing.
00:14:18.000Massive government programs, such as the war in Afghanistan, such as our social welfare programs, such as the Green New Deal, it requires a floating fiat currency.
00:14:35.000So long gone are the days of gold backing our currency.
00:14:38.000Now it's the full faith and credit of the United States.
00:14:42.000Some people estimate the inflation rate to be anywhere to be 20 and 30% a year.
00:15:06.000Today, the Labor Department reported that consumer prices were up 7% in December from a year earlier, the biggest one-year spike in prices in almost 40 years.
00:15:15.000At the grocery store, chicken prices have gone up 10.4% in the past year, the biggest increase in more than 17 years.
00:15:23.000Fish and other seafood, up 8.4%, the largest spike in over a decade.
00:15:29.000And at the pumps, Americans paid a staggering amount by December, nearly 50% more for gas than they had a year earlier.
00:15:36.000Now, why would gas, chicken, and seafood increase when you introduce more dollar bills?
00:15:41.000What would possibly be the explanation of that?
00:15:44.000Because by definition, there's only so much gas, chicken, and seafood out there.
00:15:48.000Things that you can measure, things that you know there's only so much of, where there's a finite supply and you increase dollar bills, those things will necessarily increase in price almost overnight and not have a correlated increase in value.
00:16:06.000One of the reasons we were able to predict this so easily is that we lost businesses during the lockdown.
00:16:14.000So we lose hundreds of thousands of businesses, which means what?
00:16:20.000And then you increase the dollars, you increase the money supply.
00:16:24.000So you have this inverted strategy where you're crushing production and you're increasing the purchasing, not purchasing power, but the purchasing ability of a citizenry by diluting the currency.
00:16:43.000Inflation is cheating and lying to yourself.
00:16:46.000We're going to go through some examples of inflation in world history.
00:16:51.000We're going to talk about what this means for you and your family.
00:16:54.000And then we're also going to talk about why the people in charge have facilitated this inflation cycle.
00:18:31.000So I don't like doing this, but the team is forcing me to do this, which is, let's go back to Cut 91.
00:18:41.000Early on, we were predicting that inflation was coming.
00:18:46.000We do this just to show that this wasn't a surprise.
00:18:49.000We weren't the only ones, but there weren't a lot, Andrew, right?
00:18:52.000We were, I received one of the most condescending conversations I've ever participated in my life.
00:19:00.000It was with a financier, a good man, and I looked at him in the eyes right when this aired, and I said, you know, inflation is coming big time.
00:19:10.000He said, Charlie, you don't know what you're talking about.
00:20:14.000We've been about two years on the inflation kick, well before anyone in the New York Times or Wall Street Journal dared to even write about it.
00:20:22.000It's too bad that our leaders don't actually see the obvious.
00:20:25.000And again, it wasn't an unprecedented analysis.
00:20:29.000I just happened to get my start in politics reading economics books and also not being an idiot.
00:20:35.000When you shut down an economy, therefore you restrict production and you create dollar bills out of thin air to go spend on nonsense, that is the equation.
00:20:44.000I mean, I couldn't write the equation any clearer.
00:20:49.000Now, Joe Biden, though, says, said in July, Cut 102, he said, there's nobody suggesting that there's unchecked inflation on the way.
00:22:04.000Eventually, less than 5% of the silver content of a Roman coin, content of a Roman coin was silver.
00:22:13.000They continued to debase their currency to pay for their expansive welfare state, to pay for their sexual anarchy, to pay for their open borders, to pay for the outsourcing.
00:22:25.000I could go piece by piece of the Roman Republic.
00:22:30.000And I want you to just think about this as I go through this.
00:22:51.000Rome declared wars all across the world or what was known as the modern world.
00:22:59.000They had massive problems with violent entertainment, slavery, and child sex trafficking.
00:23:08.000Even the barbarians were known as being more loyal to their wives than Roman soldiers.
00:23:17.000Rome had massive immorality, infidelity, and loss of virtue.
00:23:22.000They had a massive withdrawal from the church's involvement in the public square.
00:23:28.000Rome even participated in birth control and fewer children.
00:23:33.000Roman families had a declining birth rate.
00:23:38.000There are graves of bones that you could still visit in Italy and in Greece of infants that were sacrificed and left to die.
00:23:54.000Romans sold unwanted children into slavery because they were no longer wanted.
00:23:58.000There was class warfare that plagued Roman culture.
00:24:02.000And then, of course, exploding debt and coinage debasement.
00:24:07.000Not to mention the deep state establishment politicians, the betrayal of small R Republican values, overextended military and reckless wars, a loss of courage and patriotism, weakness which invited terrorist attacks from afar.
00:24:32.000Now, the one we're focusing on today, though, is the debasing of the currency.
00:24:37.000But I am going to say that a country that believes that men can give birth also believes that you can print wealth.
00:24:51.000Both of those things are obviously untrue, but the Biden regime comes out and they put a guidance saying that people who give birth are birthing people, not mothers.
00:25:02.000And they also come out and say that, yeah, we could just create another couple trillion dollars out of thin air.
00:25:07.000Now, the Wall Street Journal has an article about this.
00:25:10.000It's somewhat helpful, but I think they're wrong about something.
00:25:14.000This is by Phil Graham and Mike Solon.
00:25:16.000It's not a bad article, but they're wrong about something.
00:25:20.000They say that the Democrats are in a state of denial.
00:25:40.000You know, market concentration has allowed giant corporations to hide behind claims of increased costs to fatten their profit margins.
00:25:49.000So the consumer pays more both because the corporation face higher costs and because, as you put it, because the corporation can increase prices.
00:26:00.000The reason I raise this is that higher prices have many causes, and we can't overlook the role that concentrated corporate power has played in creating the conditions for price gouging.
00:26:14.000Now, she isn't wrong about part of that, believe it or not.
00:26:16.000She's not wrong about the problem of concentrated corporate power in our country.
00:26:20.000She certainly is wrong about her solution, which would be nothing but giving them more power.
00:26:24.000However, you'd notice that she refuses to acknowledge soft and easy monetary or fiscal policies in playing into the corporation's need to raise prices.
00:26:36.000And again, I'm no defender of corporate America.
00:26:38.000I think they largely are unpatriotic, soul-sucking, quote-unquote, private enterprises.
00:26:45.000However, for a grocery store, like a local grocery store in Scottsdale, you have the butcher apologizing to you, literally apologizing to you.
00:26:54.000I went shopping the other day, got a couple fillets.
00:26:57.000He's apologizing to you because it's so, he said, it's so outrageous.
00:27:54.000Well, and I'm going to tell you why they want inflation, why they need inflation, because I think the Wall Street Journal is wrong about this.
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00:29:47.000Connor's example of his rent going up $600 a month, mid-20 something working class, is basically he gets the same product to service for $600 less.
00:30:00.000So it's a $7,200 pay cut that he gets from the federal government.
00:31:01.000Well, inflation is a great way to not just demoralize a country, but to enter it into an internationalist partnership.
00:31:13.000If you were trying to usher in the great reset, which has always been their goal, where you'll own nothing and you'll be happy, where there will be one currency throughout the world, first you have to solve the problem like the dollar.
00:31:28.000Kind of like that old song, how do you solve a problem like Maria?
00:31:31.000How do you solve a problem like the US dollar?
00:31:41.000You open up the borders in conjunction with that, which creates civilizational chaos.
00:31:47.000You print 50% of all the dollars that have ever been in existence, which creates currency chaos.
00:31:54.000And then all of a sudden, you have a small group of people that basically control everything.
00:31:59.000There's been a $5 trillion wealth transfer from working people to the richest people.
00:32:06.000In order for the middle class to just stay the same, they had to work 20% harder the last year and a half to just tread water.
00:32:14.000Where the wealthiest people just had to move assets from one column to the other in a couple clicks of a computer, buy the triple Q ETF, they bought it at 18.
00:32:29.000It's now at 36, nearly doubling their investment.
00:32:34.000Meanwhile, for plumbers, electricians, carpenters, police officers, firefighters, and teachers that don't have $100 million to go deploy after there was an artificially deflated market, they're looking around and their wages have not gone up even close to the correlation of inflation.
00:32:53.000They have to work even harder just to remain the same.
00:32:58.000That creates the conditions for a rather radical economic argument, I could say.
00:33:06.000If this is not addressed, this is the other reason why they want it: inflation creates so much personal calamity.
00:33:14.000It creates so much uncertainty for the individual human being that it makes it a lot easier to persuade them for massive government intervention, confiscation, and takeovers of industry.