The Charlie Kirk Show - Judgment Day for the American Economy? with Edward Dowd and David McCormick

00:00:00.000 Hey, everybody.

00:00:00.000 Today, the Charlie Kirk Show, Ed Dowd joins us to talk about the collapse of Silicon Valley Bank and, as he calls it, the collapse of the American economy.

00:00:08.000 Sure, hope he's wrong.

00:00:09.000 And then Dave McCormick joins us to talk about a battle plan against the Chinese Communist Party.

00:00:14.000 Email us your thoughts as always, freedom at charliekirk.com.

00:00:18.000 Subscribe to the Charlie Kirk Show podcast.

00:00:20.000 Open up your podcast app and type in Charlie Kirk Show.

00:00:24.000 Get involved with Turning Point USA today at tpusa.com.

00:00:29.000 Buckle up, everybody.

00:00:30.000 Here we go.

00:00:31.000 Charlie, what you've done is incredible here.

00:00:33.000 Maybe Charlie Kirk is on the college campus.

00:00:35.000 I want you to know we are lucky to have Charlie Kirk.

00:00:38.000 Charlie Kirk's running the White House, folks.

00:00:41.000 I want to thank Charlie.

00:00:42.000 He's an incredible guy.

00:00:43.000 His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created.

00:00:50.000 Turning point USA. 0.65

00:00:52.000 We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.

00:01:00.000 That's why we are here.

00:01:03.000 Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandTodd.com.

00:01:12.000 The chancellor of UC Davis has released this hostage video that he was obviously forced to make by the people around him.

00:01:19.000 He's got to be really careful with what he was saying here.

00:01:21.000 He's got to be really careful because the president basically says that I abhor his speech and nothing would be more powerful than him speaking to an empty room.

00:01:28.000 Whoa, whoa, hold on.

00:01:30.000 That could be speech stifling by a university that's supposed to be neutral.

00:01:34.000 We're going to fight back.

00:01:36.000 We're not going to let this happen.

00:01:37.000 And he says this guy advocates for violence.

00:01:39.000 I've never advocated that's a lie.

00:01:42.000 One day someone's going to be held accountable legally for this.

00:01:45.000 I want to talk here just for a second about how you guys can get your tickets to our upcoming campus tour, tpusa.com, and get your tickets there.

00:01:57.000 I had a great opportunity to go to the border with someone that really impressed me, someone that should be a senator for the great state of Pennsylvania.

00:02:04.000 And maybe he'll do something in the future that is exciting because he definitely needs to be in leadership.

00:02:09.000 But he's the author of a great new book, Superpower in Peril, A Battle Plan to Renew America.

00:02:15.000 And it's David McCormick who joins us now.

00:02:17.000 Dave, welcome to the program.

00:02:19.000 Hey, Charlie.

00:02:19.000 Thanks so much for having me.

00:02:20.000 How are you?

00:02:21.000 I'm doing well.

00:02:22.000 Tell us about your new book, Dave.

00:02:24.000 Well, you know, I started the book before I decided to run for office.

00:02:28.000 I started in 2020, and it was based on the belief that the country was headed in the wrong direction.

00:02:33.000 We were in decline economically, national security-wise, spiritually.

00:02:38.000 And, you know, decline is not inevitable, but neither is a renewal.

00:02:43.000 And it depends on what we do.

00:02:44.000 So this is the what we should do book.

00:02:47.000 And I got about 60% of it done.

00:02:49.000 And then I ran for office, which you and I visited together then and then sadly lost.

00:02:54.000 And I could finish the book.

00:02:56.000 And it essentially lays out a plan to educate our people to confront China and to secure America. 0.97

00:03:03.000 And it's a very prescriptive book.

00:03:05.000 I think we're only going to win as Republicans and conservatives if we have great candidates, but we have great ideas.

00:03:11.000 And this is my attempt to try to help that debate.

00:03:14.000 Well, let's talk about the China issue.

00:03:15.000 There's so many different issues there, not from the Confucius Institutes to the Belt and Road Initiative to the cyber issue to the economic issue.

00:03:24.000 So you can start wherever you like.

00:03:26.000 But kind of from your perspective, you ran one of the most successful firms in America for quite some time.

00:03:32.000 It was amazing what you were able to do there.

00:03:34.000 And so you understand economics really well and the financial implications.

00:03:38.000 And so if you were to say the Chinese Communist Party is a direct threat to America because why, Dave?

00:03:46.000 China is a direct, and the Chinese Communist Party is a direct threat because their techno-authoritarian model is gaining ground on America for global primacy. 0.92

00:03:59.000 There was a great report, a great article in the Wall Street Journal a couple weeks ago, Charlie, which was from a think tank in Australia that analyzed the 44 most critical technologies for economics and national security, satellites, robotics, artificial intelligence, and so forth.

00:04:16.000 The Chinese are in the lead in 37, according to that analysis.

00:04:21.000 So they are beating us.

00:04:22.000 They have a plan for global primacy by stealing technology, by creating Indigenous technology based on the ideas of others. 1.00

00:04:32.000 And they're investing an enormous amount of capital in that.

00:04:34.000 And we don't have a plan.

00:04:36.000 And so this book, among other things, lays out a plan for how we can recover our leadership.

00:04:41.000 And that leadership, you know, their model, if you had to bet on our model or their model over the next 20 years, you'd bet on our model.

00:04:48.000 But what's happened recently is because we weren't paying attention, they have become a dominant technological force and a real threat to America's role in the world.

00:04:57.000 And that's what this book is about is laying out a plan for building muscle, going to the gym at home to build our own capabilities, but confronting China abroad. 0.60

00:05:06.000 And I have a chapter on how I do that too, which I'm happy to talk about.

00:05:09.000 But we need to have a whole of nation strategy for taking on China.

00:05:12.000 Right now it's piecemeal.

00:05:14.000 It's indecisive.

00:05:15.000 We need a whole nation strategy for bringing China to heel. 0.97

00:05:18.000 So a provocative idea that some people have floated out that I sympathize with on moral terms, but I also understand that it's rather aggressive is, is it time to decouple?

00:05:26.000 I mean, there are some really thoughtful people that are talking about that economically.

00:05:31.000 That's a harsh measure.

00:05:32.000 That would definitely mean that there would be rising costs and probably economic uncertainty.

00:05:37.000 But is that something we should be entertaining or at the very least, you know, identify 10 or 20, 30 different sectors where you say we want to make this?

00:05:44.000 Your thoughts?

00:05:45.000 What I call it in the book is strategic decoupling.

00:05:48.000 And listen, I was shocked, Charlie.

00:05:51.000 I can't believe it.

00:05:52.000 And I know I should follow and know such things, but that our pharmaceutical supply chains during COVID were so dependent on China.

00:06:01.000 I was, you know, I knew we were highly dependent on microchips, but 90% of the microchips that we require are manufactured 90 miles from mainland China in Taiwan.

00:06:11.000 So it is an absolute travesty that we have an entire semiconductor industry, which is critical to every aspect of national security and economic well-being that's offshore.

00:06:24.000 So that's a perfect example where we need to decouple.

00:06:26.000 There are a number of areas where we need to bring those capabilities home or have them within our closest allies where we can be dependent on it.

00:06:34.000 And that's going to have implications for our ability to have manufacturing jobs here at home in very positive ways.

00:06:41.000 It may raise costs, but it'll create actual security.

00:06:44.000 Whether we should take the final step and make sure that t-shirts and sneakers and things like that can be manufactured in China.

00:06:50.000 Yeah, that's less important.

00:06:52.000 Textiles is not as important, right?

00:06:53.000 I mean, vitamin C, for example, is important, right?

00:06:57.000 95% of it is made in mainland China.

00:07:00.000 Technology.

00:07:01.000 Yeah, I agree with that.

00:07:02.000 Technology farms, the things that when you wake up in the middle of the night and said, would we want our biggest adversary who may have or does have very negative intentions in terms of our role in the world vis-a-vis them, would we want them to have control?

00:07:16.000 And if the answer is no, we need to bring it home.

00:07:18.000 And so there's a number of thoughtful people making this case.

00:07:21.000 Tom Cotton's one of them.

00:07:23.000 He's been great.

00:07:24.000 He's very much headed in the right direction on this strategic decoupling.

00:07:28.000 But that's only one side of it.

00:07:29.000 The other side is investing abroad.

00:07:31.000 And as you said, I ran an investment firm for a number of years.

00:07:35.000 Today in China, today in America, rather, there are investors, venture capitalists in California, that invest in artificial intelligence companies in China that do business with the PLA.

00:07:47.000 So that's unacceptable.

00:07:48.000 We need to have an outbound investment review process that makes sure that we're not doing anything that's going to enable our adversary to be able to challenge us on the global stage.

00:07:58.000 And so that would be a second piece of a whole of nation strategy.

00:08:01.000 The third is to hold China accountable for the Wuhan lab, for human rights abuses.

00:08:06.000 I mean, exactly.

00:08:09.000 The fentanyl crisis in Pennsylvania, Charlie, we talked about this on our border trip.

00:08:13.000 5,000 deaths last year in Pennsylvania.

00:08:16.000 So we've got to hold a hard line on these issues with China.

00:08:19.000 And then finally, and we need to do more of this, but we have some very critical allies, Japan, Australia, some of the five Eye intelligence companies, countries, New Zealand, the UK, where we should really combine our strategies around technology and trade and national security even more fully than we do.

00:08:39.000 We don't have to bear all the cost of this.

00:08:41.000 We need to have our most trusted allies in line with this.

00:08:43.000 President Trump did some good work along those lines, and we need to continue to build on it.

00:08:47.000 One of my concerns, though, to get this done, again, the book is Superpower in Peril, some amazing ideas in it, is the elite capture that China has been able to successfully embark on, right? 0.77

00:08:58.000 The fact you're saying this, Dave, would make you kind of, you know, persona non grata in certain circles, right?

00:09:04.000 If you work for the NBA and you were talking like this, you're not allowed to say that because their growth market is mainland China.

00:09:10.000 How do we solve that?

00:09:11.000 Solve the issue of elite capture?

00:09:14.000 Well, I think elite capture is a problem relative to China, but it's a problem more broadly across an entire progressive agenda that I fear is taking our country in a really terrible direction.

00:09:27.000 But I think on China, we need to highlight the issue.

00:09:30.000 I think we need to talk substantively about the implications of being dependent on China the way we are.

00:09:35.000 And we need to have serious people.

00:09:37.000 Someone I'd like to put myself forward as one such person who's done business around the world.

00:09:42.000 We've done business in China.

00:09:44.000 I've run companies.

00:09:45.000 I've been at the highest levels of government.

00:09:47.000 I've been in the military.

00:09:48.000 We need to have a serious conversation about the implications of our continued relations with China and how they need to evolve.

00:09:53.000 And I think that's starting to happen.

00:09:55.000 Mike Gallagher's committee, I think, is a good step forward.

00:09:58.000 I think it's going to need to be bipartisan.

00:10:00.000 I think there's a growing consensus.

00:10:01.000 So I'm optimistic we're finally at least having the right conversations.

00:10:05.000 I think serious people need to take it on.

00:10:07.000 The book is very important, and it's a thoughtful book, Superpower in Peril, A Battle Plan to Renew America by David McCormick.

00:10:16.000 Hey, everybody, Charlie Kirk here.

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00:10:20.000 It's really quite simple.

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00:10:29.000 I know a lot of people who take supplements and formulated nutrition packs, but balance in nature goes right to the source.

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00:10:45.000 Getting good daily nutrition is the foundation of all aspects of good health.

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00:11:18.000 So David, as we talk about this rallying cry against China, it has to be an above all approach.

00:11:25.000 And what I like about what you've done in the book is you talk about it in military terms, battle plan, right, with your experience being in the military.

00:11:33.000 And I want to focus on the specifics of one of the things you mentioned, which is holding China accountable, because that's a question about justice, right?

00:11:40.000 Justice for fentanyl, justice for hacking our cyber grid, justice for spying on us, justice for having a spy balloon over our sky, you know, justice for whatever happened in the Wuhan Institute of Virology, which could have been attributed to sloppiness, but definitely there was a cover-up, right, in the days and the weeks that followed.

00:11:59.000 What does justice look like then, David, to hold them accountable and make them pay an appropriate price?

00:12:04.000 Well, I think it starts with calling balls of strikes.

00:12:07.000 And, you know, the Biden administration hasn't done that, for example, on the Wuhan Lab.

00:12:12.000 And that's a real problem because if you're not constantly bringing forward the things that are unacceptable behavior and taking steps to mitigate them or taking steps to hold accountable through sanctions or a variety of other things, then that behavior gets validated.

00:12:26.000 And the belief is that that's okay to do again.

00:12:29.000 And so this spy balloon is another example.

00:12:33.000 That should have been handled much more decisively with a clear line established that, hey, this is unacceptable over U.S. airspace.

00:12:40.000 And all of these things are part of a leadership under Joe Biden that's very hamhanded.

00:12:47.000 It's very uncertain.

00:12:48.000 We saw that in Afghanistan with the bungled withdrawal.

00:12:53.000 We saw that in Ukraine with the Nordstrom 2 and the invitation of Putin.

00:12:58.000 And we see that with the Chinese. 0.99

00:13:01.000 And the problem with being hamhanded and bungling things in a leadership perspective, if you're up against an aggressive opponent, it's much easier to have a miscalculation.

00:13:10.000 So you need to be strong.

00:13:12.000 We need to build muscle at home by going to the gym.

00:13:14.000 You also need to reflect strength in your actions and your decisiveness.

00:13:18.000 And I think we've had neither.

00:13:20.000 And this book tries to lay out a path for being both strong.

00:13:25.000 And the toughest guys I knew in the Army when I was in the 82nd Airborne weren't the ones who were talking the most.

00:13:31.000 They were the guys, the meanest, toughest guys were the guys who were quietly tough.

00:13:35.000 So I don't think it's just rhetoric.

00:13:37.000 I think you got to be strong.

00:13:39.000 And then on top of that, you have to draw lines and say this is unacceptable behavior and there are consequences.

00:13:43.000 And I don't think we've done either under this administration.

00:13:46.000 Xi Jiping was just, I put in quotes, re-elected, right?

00:13:49.000 Unanimously.

00:13:50.000 One, there would not dare be a defector.

00:13:53.000 Any defectors are no longer living, probably.

00:13:56.000 How should we think about Xi Jiping as a person?

00:13:59.000 This is something that I'm sure you've thought deeply about.

00:14:04.000 Is it more about him or is it more about the CCP?

00:14:08.000 Is it a mixture of both?

00:14:09.000 I mean, what does it tell us?

00:14:12.000 Please explain.

00:14:14.000 If you think about U.S. and Chinese interest, there was a hope.

00:14:21.000 There was a hope 20 years ago that I think a misguided hope, but there was a hope that the way that relationship would evolve is that there would be economic relations and those would benefit both countries and that the more exposure China got to the United States, the more there'd be a move towards liberty and democracy and human rights.

00:14:40.000 That was a misguided notion.

00:14:42.000 Certainly the political notion was a misguided notion.

00:14:46.000 But what's happened over time is there's been a steady divergence where it's clear that China was stealing our technology.

00:14:52.000 It's clear that China wasn't going to be reciprocal in trade.

00:14:55.000 It was clear that China was going to continue to violate human rights and project its techno-authoritarian model around the world. 0.93

00:15:01.000 But that divergence grew radically when President Xi came into office. 0.87

00:15:07.000 He's a dictator.

00:15:08.000 He is someone that has a much more aggressive view of China's role in the world and has implemented that. 1.00

00:15:14.000 He's consolidated power over the military.

00:15:17.000 He's projected that strength abroad.

00:15:20.000 He's built coalitions.

00:15:22.000 The China-Russia partnership, that coalition is unique.

00:15:25.000 The thing that brings it together, it's its opposition to the United States.

00:15:29.000 And so this is a very formidable.

00:15:30.000 has sent China on a course that's far more aggressive, far more ambitious, far more expansionist, and far more threatening to America's role in the world.

00:15:38.000 And he's establishing that vision, which will, I suspect, live on after he's gone, but he won't be gone for quite some time.

00:15:46.000 And that's the vision we're going to have to deal with.

00:15:47.000 Superpower in peril, a battle plan to renew America.

00:15:50.000 David, thank you so much for joining us.

00:15:52.000 I encourage everyone to check out the book.

00:15:53.000 Thank you so much.

00:15:54.000 Charlie, thank you.

00:15:55.000 Good to see you.

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00:17:06.000 Joining us now is Ed Dowd, author of Cause Unknown, an author and founder of Finance Technologies portfolio manager at BlackRock for 10 years, managing $14 billion equity growth fund.

00:17:17.000 I do want to talk to you, Ed, today about the vaccine issue.

00:17:20.000 I think it's really interesting, but I want to start with Silicon Valley Bank and the bank run that almost happened, didn't happen, Signature Bank.

00:17:29.000 Ed, how should we think about this?

00:17:30.000 What are the big lessons?

00:17:32.000 And what do you think is the most obvious truth the media is missing?

00:17:36.000 So this was going to happen regardless.

00:17:40.000 At the end of November of last year, M2 money supply did year-over-year negative growth.

00:17:48.000 Okay, so the last time that happened was 1930.

00:17:51.000 And so this is the fifth time since 1868 that's occurred.

00:17:55.000 And the other four times it happened is associated with financial panics.

00:17:59.000 About a month and a half ago, I put out a tweet talking about we were seeing a setup in the capital markets, different asset classes lining up to auger poor things for financial assets.

00:18:11.000 And this SVB just happens to be the headline.

00:18:14.000 And we're going to see what I think is rolling thunder, rolling financial crises throughout the next year or two.

00:18:23.000 I think it's going to be a controlled implosion on the way down because the Fed and the government are going to come in and do this whack-a-mole thing.

00:18:29.000 And every time something rigs its ugly head, they're going to respond.

00:18:32.000 The markets will think everything's okay.

00:18:34.000 But I think this is the beginning of the end of the global financial system, as we know.

00:18:40.000 And something new is coming in the next two to three years, I suspect.

00:18:44.000 This is just the end.

00:18:46.000 What is going to be coming?

00:18:48.000 I think the plan from our vettors is the central bank digital currency.

00:18:54.000 And I was talking to some hedge fund managers over the weekend, and they're looking at the regional banks.

00:18:58.000 They're looking at the mismatch of interest rate risk that a lot of them have.

00:19:03.000 And a lot of these guys are probably going to get into trouble and eventually will be consolidated into the six systemically important banks, the big banks.

00:19:12.000 That's probably the plan going forward.

00:19:16.000 I don't think it was the plan in a room cackling monetically.

00:19:20.000 I think it's just what's going to end up happening.

00:19:22.000 So regional banks, I think, are in trouble.

00:19:24.000 And it's not going to happen overnight.

00:19:26.000 Just going to kind of happen over time as the economy continues to slide into a deep, deep recession, which is, I've been saying, for the better part of, you know, six months to nine months.

00:19:37.000 So, a CBDC, how would that technically be different than what we already have?

00:19:43.000 Would it be a currency reset?

00:19:44.000 Would it be actually resetting the dollar to a different valuation?

00:19:50.000 I mean, how would that be anyway?

00:19:52.000 Yeah, I'm not in the room, so I don't know.

00:19:55.000 But the idea behind a central bank digital currency is it allows the regimes of the globe to have more control over your decision making.

00:20:06.000 So it's, you know, the Bank of International Settlements, a year and a half ago, one of the senior guys there made a famous speech saying that once we introduce the CBDC, we'll be able to have more control over what money is and where we can direct it according to what we think.

00:20:22.000 And, you know, that just sounds like total control to me.

00:20:25.000 Yeah.

00:20:26.000 And I suppose the argument they're going to make is that paper money has already kind of been phased out.

00:20:32.000 And so everything we do is digital as it is.

00:20:35.000 But, you know, in some ways, you're seeing this implosion of crypto.

00:20:39.000 You have to wonder if it's an intentional implosion of crypto because crypto is in some ways a threat to that because by definition, it's decentralized.

00:20:47.000 And so, so, Ed, what you're saying is that we're going to see these, you know, kind of a little bit of a crisis here and a crisis there.

00:20:56.000 And they're going to bring us towards what could be, you know, the aforementioned great reset or, you know, the currency collapse.

00:21:04.000 That doesn't give me a lot of hope.

00:21:06.000 So what's the best case scenario here?

00:21:09.000 Well, so it is what it is.

00:21:11.000 We're going into a deep recession, maybe a depression, don't know.

00:21:15.000 But when N2 does what it just did, it's a rare event.

00:21:19.000 And it's because, you know, the US dollar, which is the Federal Reserve currency of the world, is in all the corners.

00:21:26.000 And, you know, the system needs constant credit creation.

00:21:29.000 And after COVID, it was going to collapse in 2019.

00:21:32.000 There was a crisis looming, but then COVID gave central bankers and politicians an excuse to print unprecedented amounts of money to plug the hole.

00:21:42.000 That gave us another two years, but the math is the map.

00:21:46.000 And we're at the end.

00:21:48.000 So the hope is this.

00:21:50.000 People are waking up to what's going on.

00:21:52.000 The awareness has never been bigger.

00:21:54.000 I've been kind of hip to what's going on for years.

00:21:58.000 I used to feel alone.

00:21:59.000 More and more people, well-credit-credentialed experts, are saying the same thing that I'm saying.

00:22:03.000 So there's a lot of hope.

00:22:05.000 And we're going to have to, we, the people, have to have a seat at the table.

00:22:09.000 We can't let these folks go in back rooms and create a new system that no one understands.

00:22:16.000 So what I'm doing personally is I use cash for every transaction.

00:22:20.000 I don't, when I go out, I don't ever use my credit card.

00:22:23.000 In fact, I can because I want to thwart the system, not have a track record.

00:22:30.000 And I just want to, and I'm telling other people, and I'm noticing a lot of people using cash.

00:22:34.000 And I think we just need to fight this trend towards everything digital.

00:22:39.000 Now, the younger age groups love using their iPhone pay, wallet, what have you.

00:22:43.000 I just use cash.

00:22:44.000 So I think as a nation, we just, everyone should start, you know, just when you go to Costco, whenever you go to a restaurant, use cold hard cash.

00:22:53.000 Oh, you mean the stuff that's actually in your wallet, not just debit credit?

00:22:56.000 Yeah, yeah.

00:22:57.000 I use the paper.

00:22:58.000 That's really medieval of you.

00:23:00.000 I have to say.

00:23:02.000 I love it, though.

00:23:03.000 And it's interesting.

00:23:05.000 There are so many incentives to try to get your cash into the system, get your cash into the system to go cashless, go cashless, go cashless.

00:23:14.000 The entire police state of the IRS is basically set up to try to go up against cash businesses, right?

00:23:21.000 And for quite some time, they've been incentivized in that way.

00:23:24.000 But let's go back to our just kind of some fundamental vocabulary here, because some people are asking in the chat and emails, what is M2?

00:23:32.000 And explain just kind of more in layman terms, the significance of what happened that only hadn't happened since 1930s.

00:23:39.000 Just if you could just re-explain that for our audience, I think that would be really helpful.

00:23:43.000 So M2 is the money supply.

00:23:45.000 Okay.

00:23:46.000 And it just constantly grows over time because our system is a debt-based fiat system.

00:23:52.000 So credit creation is how you grow money.

00:23:55.000 So the Federal Reserve prints money, then people take that money and then they lend it.

00:23:58.000 And then the fractural reserve system multiplies it.

00:24:01.000 It's the multiplier effect.

00:24:03.000 So the credit system needs constant flow, constant credit creation.

00:24:07.000 And when that stops, we have what's called a liquidity crisis.

00:24:11.000 And that's what happened to Silicon Valley Bank.

00:24:14.000 Let me really tell people what happened there.

00:24:16.000 So during the free money times, they were constantly, the VCs are their biggest clients, and their VCs were constantly raising venture capital funds, then giving them to companies in their portfolio.

00:24:30.000 Then those companies had to bank at Silicon Valley Bank because they got great terms.

00:24:35.000 But one of the terms was you had to keep all your deposits on hand at Silicon Valley Bank.

00:24:39.000 That was great.

00:24:40.000 And their deposits were growing quite nicely.

00:24:43.000 But then last year with the turmoil we saw in tech land and the beginning of the economic turmoil recession that's looming, liquidity dried up and interest rate increases dried up liquidity for all these VCs.

00:24:56.000 So there were no more C rounds, B rounds to fund these.

00:24:59.000 So basically the deposits in Silicon Valley Bank stopped growing and actually started to slowly decline as the companies that were already in the portfolios started drawing down for operations.

00:25:10.000 But there was no new companies being funded, no new rounds of financing.

00:25:14.000 So their deposits just started to dwindle, but they had all these assets on their balance sheet.

00:25:18.000 So that's the liquidity problem right there.

00:25:21.000 And that's why Silicon Valley Bank happened to be the first accident.

00:25:24.000 There'll be more, but that was one of the first ones.

00:25:29.000 And then signature also, do you think the federal government did the right thing to fully guarantee the depositors above the $250,000 mark?

00:25:40.000 Well, we can get into debates on that.

00:25:42.000 And if they didn't, this unfolding crisis would have happened a lot faster.

00:25:47.000 There would have been a bank run.

00:25:49.000 There would have been chaos.

00:25:50.000 So I suspect they're going to keep doing this whack-a-mole scenario where they, you know, fix this, fix that.

00:25:56.000 And there's going to be a lot of consternation politically.

00:26:01.000 I mean, people like you, Bannon, others are going to get all up in arms about this.

00:26:06.000 And on one part, I agree.

00:26:08.000 On the other part, I don't want to see chaos, but it seems like this is going to be a controlled demolition.

00:26:14.000 So we're kind of stuck between a rock and a hard place.

00:26:16.000 Do you want to?

00:26:17.000 No, I sympathize with that.

00:26:19.000 I guess the provocative question is, is it better to have a little chaos before we go towards central bank currency totalitarianism?

00:26:27.000 That's a provocative question.

00:26:28.000 I mean, is there any wisdom there?

00:26:31.000 Look, if I was running the show, I'd rip the band-aid off, but I'm not.

00:26:35.000 Okay.

00:26:36.000 There might be some wisdom there.

00:26:37.000 All right.

00:26:39.000 I would rip the band-aid off.

00:26:41.000 Look, what happened in the great financial crisis, they did not fix the problem.

00:26:46.000 We had a debt problem.

00:26:48.000 And how did they solve it?

00:26:49.000 With more debt and more money printing. 0.59

00:26:51.000 We could have let the system reset and let capitalism do what it does.

00:26:55.000 We would have had a very short deflationary, maybe minor depression, but we would have rebounded out after all those institutions were wiped off the face of the earth.

00:27:04.000 But what we ended up doing was trapping capital in bad assets.

00:27:07.000 We've had a zombie economy for 12 years, and only the rich get richer.

00:27:10.000 Those closer to the printing press get immensely wealthy.

00:27:14.000 You know, this system needs to change.

00:27:17.000 I don't know what it's going to look like, but the system is inherently flawed.

00:27:20.000 It's unstable.

00:27:22.000 And, you know, every several generations, at the end of one of these cycles, war is inevitable because somebody somewhere gets in trouble.

00:27:32.000 I'm expecting China to be the one that's going to get in big trouble. 0.71

00:27:34.000 They hit a demographic wall in 2020, and their biggest fear is their own people.

00:27:38.000 So they have internal issues.

00:27:40.000 So they're going to create a boogeyman.

00:27:41.000 And who's going to be the boogeyman?

00:27:43.000 You, me, and everybody in this country.

00:27:45.000 Yeah.

00:27:45.000 And it does present an opportunity, though, the crisis where because of blockchain and Bitcoin and cryptocurrency, I mean, we could theorize that there might be a couple trusted sources out there that emerge that actually have a stable ability to go back to, you know, a replacement for barter.

00:28:04.000 Again, I'm just thinking out loud here.

00:28:06.000 I think they have to get rid of cryptocurrency.

00:28:09.000 And so without going too far into the future, though, I mean, the whack-a-mole analogy is really powerful because the federal government's just going to try to calm down the contagion of a panic.

00:28:19.000 In some ways, they're almost playing societal psychologist, right?

00:28:22.000 They're almost just everything's just fine.

00:28:24.000 Everything's just, everything's fine.

00:28:25.000 Just take your meds, everything's fine.

00:28:27.000 When in reality, you know that the whole thing's about to collapse.

00:28:31.000 So play this out, 45 seconds remaining, Ed.

00:28:34.000 I mean, what other sectors do you think are going to be hit next?

00:28:36.000 If banks go, then you have to probably speculate that the people that are getting the loans from the banks are probably going to go next.

00:28:44.000 Yeah, any business that's not cash flow positive will go belly up.

00:28:48.000 All the speculative, all these speculative companies that are burning cash, they go bye-bye.

00:28:55.000 The other thing about this whack-a-mole scenario is that what they can't control is an international problem. 0.71

00:29:01.000 And I think there's going to be, there's a sovereign debt crisis coming somewhere from one of these countries out there.

00:29:06.000 And when that goes, that's when the contagion really will become unstoppable.

00:29:10.000 Right now, this is a localized, very regional bank.

00:29:13.000 They're able to stop the bleeding for now.

00:29:16.000 But this is going to be, this is going to unfold over the next two years.

00:29:19.000 And anybody that doesn't have cash flow is in trouble.

00:29:23.000 On that uplifting, an optimistic note, we are going to be back with Ed Dowd in a second.

00:29:27.000 And Ed, I want to compliment you on your powerful work on the vaccine issue.

00:29:31.000 Your comments, this is one of the best dialogues we've had for quite some time.

00:29:38.000 So, Ed, I was speaking to a group of brainwashed college students at the University of California, Santa Barbara, and I wasn't getting anywhere.

00:29:45.000 And I could use your advice and you could explain to the whole audience.

00:29:48.000 What is the most compelling piece of evidence that you have discovered and that you have covered to show that the vaccine is indeed harming people?

00:29:57.000 What is the one or two pieces of data that you think is the most persuasive?

00:30:01.000 I love it.

00:30:02.000 This is what we call the elevator pitch.

00:30:04.000 So two data sets, Society of Actuaries, which are group life policies at the elite, elite corporations across the U.S., Fortune 500 mid-sized.

00:30:14.000 Their excess mortality in 2021 was 40%.

00:30:18.000 The general U.S. population was 32%.

00:30:21.000 Typically, this group is much healthier than the general U.S. population.

00:30:25.000 The Society of Actuaries has shown that in prior studies.

00:30:29.000 It's in my book.

00:30:29.000 It's QR coded.

00:30:31.000 And they said that in any given year, group life policyholders die at one-third the mortality rate of the general U.S. population.

00:30:38.000 So that inverted in 2021 and continues to this day.

00:30:45.000 And of course, I blame the vaccines and mandates.

00:30:48.000 The second piece of data, separate data set, U.S. Bureau of Labor Statistics, disability data.

00:30:54.000 Disability numbers were around 29 to 30 million for the prior five years going into 2021.

00:31:01.000 Then they exploded in February from about 29 to 30 to 33.2 million.

00:31:07.000 That was a three-standard deviation event, which in Geek Speak happens 0.03% of the time.

00:31:12.000 Rapid increase.

00:31:13.000 Of those 3.2 million people that were added, 1.7 million are employed.

00:31:18.000 When you look at the disability rate increases, employed went up 31%.

00:31:22.000 The general U.S. population went up 9%.

00:31:25.000 And what's even worse is those not in labor force, those are people who could work and are willing to work.

00:31:30.000 Their disability rate only went up 4%.

00:31:33.000 Those are the people who got fired for not taking the job or refused to take the job and quit.

00:31:38.000 So typically speaking, the employed of the country, by the very nature of going to work, aren't as disabled as the general U.S. population.

00:31:46.000 And this has never happened in the history of our country.

00:31:49.000 Those two pieces of data are, for me, a mic drop.

00:31:53.000 That's what I presented to Senator Ron Johnson in December.

00:31:56.000 And that's it.

00:31:57.000 That's all we need to know.

00:31:58.000 So done here.

00:31:59.000 The smart Alec college kid would say, oh, come on, causation and correlation.

00:32:04.000 You don't know the vaccine is causing that.

00:32:05.000 Your response would be.

00:32:07.000 My response would be, well, so did the virus mutate in 21 and 22 to only affect younger aged working people, but somehow avoids those who are not employed.

00:32:17.000 That's it.

00:32:18.000 I mean, unless we have a new virus that knows you're working, there's no explanation for it.

00:32:23.000 If you were to put a number on it or approximate how many people do you think died because of the mRNA gene altering shot?

00:32:32.000 So we've done an analysis.

00:32:34.000 It's on our website at Finance Technologies, spelled with a pH instead of an F in the Humanity Project tab under disabilities.

00:32:41.000 We saw that for every death, there were four disabilities.

00:32:48.000 So if there's 3.2 million disabilities since 2021, we came up with 800,000.

00:32:54.000 800,000.

00:32:56.000 And again, that's a ballpark, right?

00:33:01.000 And so I suppose the question is, how have they been so successful in covering this up?

00:33:06.000 Or have they not been successful?

00:33:08.000 Are more people open to this than ever before?

00:33:12.000 Despite this, they talk about it being safe and effective, 100% safe and effective.

00:33:17.000 Do you feel the truth is finally starting to penetrate this web of lies?

00:33:22.000 It is.

00:33:22.000 And I can tell by my social media following.

00:33:27.000 Again, if you take Ed data out of the equation, there's interest in this topic.

00:33:31.000 And my Twitter followers are now increasing, you know, 1,000 a day as opposed to 100 a day.

00:33:37.000 So there seems to be an awareness and an understanding that something has gone seriously off the rails and it's spreading like wildfire, word of mouth.

00:33:45.000 There's still massive censorship.

00:33:46.000 I've been able to get on Patrick Beth David's podcast and Tucker Carlson and shows like yours, but it's still a struggle to get the book message out.

00:33:57.000 One thing that's interesting about my book is it's not really been criticized or reviewed because it's bulletproof.

00:34:05.000 And they did the same thing to Bobby Kennedy's book about Anthony Fauci.

00:34:11.000 If it's well sourced and can't be debunked, they ignore it.

00:34:14.000 So this is what's going on with me.

00:34:16.000 Totally ignored.

00:34:16.000 And that's what they did to my college book.

00:34:18.000 40 pages of footnotes and they just didn't read it.

00:34:21.000 Ed, thank you.

00:34:22.000 You know what I'm talking about.

00:34:23.000 Yes, they just ignore it, especially when the research is rigorous.

00:34:27.000 Ed, come back anytime.

00:34:28.000 Thank you so much.

00:34:29.000 Take care.

00:34:30.000 Have a good one.

00:34:33.000 Thanks so much for listening, everybody.

00:34:34.000 Email us your thoughts as always, freedom at charliekirk.com.

00:34:37.000 Thanks so much for listening and God bless.

00:34:42.000 For more on many of these stories and news you can trust, go to CharlieKirk dot com.

The Charlie Kirk Show - March 15, 2023

Judgment Day for the American Economy? with Edward Dowd and David McCormick

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