BTC Sessions - Tom Luongo Reveals: Trump's Genius Trap Crushes Globalists - Bitcoin Boom Ahead

Starting point is 00:00:00 The game board has changed because what he's been handed is a live hand grenade, i.e. the shutdown. Donald Trump is not a moron. He's not being advised by morons. He has very, very smart people around him at this time. The real players in this don't have Wikipedia pages. The only way to find out where these people are is to flush them out. Money leaves a trail. Money lights up. It's so completely obvious that he and Putin are just throwing them against each other because it's a very, very high-level game that's being played here. We need pristine collateral to undergird the system, hard, pristine collateral at the bottom. and I would put gold, Bitcoin, possibly even silver. I said that, you know, what will bake your noodle was that they're going to put Bitcoin on the balance sheet, on the Fed's balance sheet.

Starting point is 00:00:37 But they're not doing that they're doing, is there, of course, putting on the Treasury's balance sheet. That's Tom Luongo, the geopolitical mastermind behind the Gold Goats and Guns podcast newsletter. Fair warning, this episode pulls back the curtain on real statecraft, and most people aren't ready for what they'll see. Tom breaks down what's behind Trump's weird policy shift on Ukraine and Israel. What Trump has to do is he has to wash his hands. of Ukraine without looking like he's washing his hands of Ukraine.

Starting point is 00:01:02 He's allowing everybody to get everything they want and still not be very happy, which is exactly what happened to Israel. The hidden plan behind the government shutdown in why it has to last two months in order to work. If it does go on until Day 61, then all of a sudden, all those assets that used to be there are going to be gone. How Trump and Powell are re-engineering the economy for a middle-class revival. Powell was supporting Trump with not cutting. Moreover, Trump hadn't put any wins on the board.

Starting point is 00:01:26 Plus, Tom, make sure to let us know exactly where gold. and Bitcoin are headed next. Bitcoin's on its way to 175 to 200. Gold is moving hard. Awesome, Tom. Thank you so much for joining us again today. First repeat guest. I want to kick things off by getting your sense, getting your take on what seems like Trump has seemingly shifted his stance on the Ukraine war.

Starting point is 00:01:51 Now, he posted, I think Ukraine with the support of the European Union is in a position to fight and win. And before you're jumping into it, my theory, which is not necessarily a good one, is it almost seems to me like he's trying to set Ukraine up with their own kind of Afghanistan, their own kind of quagmire. I'm reminded of Kissinger and the triangular diplomacy between like the Soviets in Russia. And I'm wondering if Trump is basically willing to throw some funds in there to keep Europe in Russia at each other and kind of slowly know.

Starting point is 00:02:18 Okay. So what's going on there? That is exactly the opposite read of what's actually going on. All Trump said was, hey, you guys, if you really want more that bad, I think you can go do it. And you know what? I'm happy to like have you try and pay for weapons that we can't produce that you can't afford with fighters who can't use them. Really?

Starting point is 00:02:36 Okay. Give me a little more detail. Absolutely. Europe can't afford these weapons. In order for them to do that, they have to go for fiscal union that they can't get, right? Europe is using the Ukraine war as an excuse to go for political and fiscal integration. They're trying to force feed it in. And then they're also actively fomenting discontent at home and strip mining their countries

Starting point is 00:03:02 in order to get people, you know, okay, just give us anything. You've got us desperate. We're gas brink for air. We'll take anything now. Just, you know, give us some relief. And then, of course, that's what they're going to do. They're going to give them the digital euro. They're going to collapse all the central banks into the ECB, blah, blah, blah, blah.

Starting point is 00:03:21 They're going to give the European Commission tax and full tax and spend authority. And they're going to try and create the United States of Europe. So they should have done that in the beginning, but they didn't do that because they couldn't do that. And they still really can't pull that off. So ultimately, so to do that, they have to form into crisis. And the crisis is the bullshit existential threat of Russia invading Europe, which is nonsense. So what Trump said was, hey, you know, you want to do this? That's great.

Starting point is 00:03:51 You go ahead and do it. He goes to the UN. He's like, it'll be the greatest war. You know, globalism sucks, but this will be the greatest war ever. Like, you know what I mean? Like, he's like playing that game. it's so completely obvious that he and Putin are just throwing them against each other. Because it's a very, very high-level game that's being played here.

Starting point is 00:04:08 What Trump has to do is he has to wash his hands of Ukraine without looking like he's washing his hands of Ukraine. Because he doesn't have a Congress that is down with the idea of not being a part of NATO and destroying Russia and all the rest of it. You still have so much infrastructure within the United States, government that is hostile to real American independence from basically Europe and city of London, that you can't get anything done until the conditions are right to actually turn the tables. So now let's talk about what he's just been handed, because what he's been handed is a live hand grenade, i.e. the shutdown. Because the shutdown on day 61 turns into, you know, I'll explain why day 61 is important, he turns into the possibility for him to just go through,

Starting point is 00:05:02 he and his cabinet to go through and fire all of these people. He's thrown Russ Vogue out there, the director of OMB, which I've talked about, I said, I told everybody for months, I'm like, you're all focusing on Heggseth, you're all focusing on Gabbard, you're all focusing on Tam Bondi and Kosh Patel and all this. And then quietly in the background, they're all taking the flag. Well, Russ Vogue just takes his time, gets the staff together, and figures out and and gets everything organizationally in line at OMB so that if we get to a point where he can actually either gets the Congress he wants in the second half of the term,

Starting point is 00:05:38 or we get to this scenario where he's going to be able to come in and implement all the cuts to the American budget, the federal budget that he wants to do. And he's known this for three years, what he wants to do. Like they knew what they wanted to do well before they came in the office. I've been talking to people close to director vote for close to two years now, behind the scenes. Like, I know people who are, you know, high up and hollied up in OMB. I've talked to them about it. And so I knew all this was coming last summer at, you know, and the only question was

Starting point is 00:06:14 whether or not Trump was going to get elected or not. And then, of course, they missed a Butler of Pennsylvania and the rest is history. So why is day 61 important? Well, because as Peter St. Anne pointed out the other day, in order to fire federal employees, you're going to give them 60 days notice. Would this mean they've already got notice? What's that? I just mean they've already gotten notice.

Starting point is 00:06:31 I think people have already gotten notice, okay? Because they have been fired on October 1st. They already know. So now the question is on day 61, will they, you know, they'll never come back. Everybody's focusing on like the dumb shit, like, you know, the DEI stuff, the grants and all that stuff. That's not what this is really about. This is really about what is. what has Gabbard been doing for nine months as DNI?

Starting point is 00:07:00 Outing and finding out, same thing with the FBI, Patel at the FBI, Panty at DOJ and everything else. Everything you've seen in some way has been a shaping action, has been a probe to find out who the real traders within these organizations are, these government departments are, because you start a process like, oh, we're going to, you know, we're going to send an ice raid to, I don't know, some laundromat in L.A., for example. What happens at that point? Somebody leaks that to, you know, whoever, from within either ICE or Homeland Security or

Starting point is 00:07:36 whatever, that winds up going out to Emily's list and George Soros and all the rest of them. They show up with a rent-a mob and start the L.A. riots. Meanwhile, Trump has already got the National Guard ready to go to squash the thing and the Marines, ready to squash the thing. So what they were really waiting for was for all the the dark bank accounts to light up because these people have to be paid. They don't know where the money's going. You don't know who's in charge of the money. Like, it's all a decentralized network within the government.

Starting point is 00:08:05 It's like all these organizations just operating on their own. They have these budgets and they just operate. So the only way to find out where these people are is to flush them out. It's like trying to find out where the missile launch, the, the, the head and missile launchers are. Every once in a while, you get this let them shoot them off. And then you go, oh, that's where they are. And then you go shoot them, right?

Starting point is 00:08:22 I've used this point in the past about something like the Iran-Iraq, the Iran-Israeli war. Why the Israelis were so successful, why that war worked the way out the way it did? It was because the Israelis pulled off an immense operation. Like Israel, hate Israel, respect the player and the game in this point, which is that that opening raid on Tehran was amazing. From a combined arms and military operations and combined arms and intelligence to everything else. because you had guys on the ground taking that IRGC commanders. You had, you know, you had anti-aircraft taken offline, all this stuff in order to allow the Israeli Air Force to come in and start flying cap over Tehran. Tehran then responds by lobinoff 200 or so missiles in order to saturate iron dome.

Starting point is 00:09:10 That's what they were going to do. They fire their dumb missiles to saturate iron dome and deplete them. But then those 200 launchers get blown up. Next night is 100 missiles go off. they light up and then they get taken down. If the Israelis weren't flying cap over Tehran, Iran would have wiped Israel off the map because there would have been 100 missiles every night

Starting point is 00:09:33 until Israel finally surrendered. But no, it was 100, then it was 50, then it was 20, then it was 5, then it was 1. There's 5,000 or 10,000 missiles sitting in silos, but there ain't no guns to shoot the matter. It's like one thing to have 50,000 rounds of ammunition in your house, but if your AR 15 breaks and you don't have a backup, guess what?

Starting point is 00:09:50 all that 2-2-3 is useless unless you break it down for gunpowder and start making freaking start making you know iEDs out of them okay seriously so this is the scenario so it's the same thing with money money leaves a trail money lights up and so we've been doing a lot of that crap now go all the way back to you to to ukraine and realize that it's the same thing with all the NGO money all of the you know national now for democracy money all of that money and a lot the cartel money and a lot of the organized crime money that's floating through all these intelligence agencies that we know they're all invest they're all um uh involved in well guess what like what trump is saying literally to the europeans hey if you want this war that bad go ahead and

Starting point is 00:10:35 fight it i think you can win he knows they can't win he knows they can't afford them to buy the weapons from him and we he knows as well that we're not going to sell them weapons if we don't have any stockpiles for ourselves, which they've also basically said. He said, yeah, we'll sell you all the weapons. And then at the same time, we're like, yeah, but you can't have any of these that you actually need because we need those for national defense. So you can have all of our crap and we'll make you 155 millimeter shells. Sure, you can have those. But you ain't getting, you know, you ain't getting the latest patriots. You know, that can be fired in the Patriots. You ain't getting this. You ain't getting this. And so it's, the devil's always in the

Starting point is 00:11:11 details on a lot of this stuff. And Trump throws out a tweet like that in order to grab the commanding high ground and say, look, if you want the war, it's yours. You won't it. It's not my war anymore. And then that way, he then can turn around domestically and turn to the Lindsey Grams of the world. And notice that Lindsay's been really

Starting point is 00:11:32 fucking quiet since that tweet? Yeah. Right. Because Lindsay now has to go out and make the argument for war when no one wants it. And Trump just walked away from it all. So now Lindsay's got to like try and play the game. he can't. So Trump has neutered them in every way because what happened in, let's go back to Israel and Iran, right? Think about how we handle Israel or Iran. He allowed Israel to do exact, and the neocons do exactly what they wanted to do, which was bomb the crap out of Tehran and potentially go for a regime change, which Trump didn't back. All Trump did was sit back and play Johnny Bench. Iran lobs missiles over. We shoot them out of the sky as best we can. Some of them get through, do a shitload of damage.

Starting point is 00:12:13 We find out that the Iranians have better missiles than we thought they did. okay that's bad the ira the israeli's got a big freaking punch in the mouth and all of a sudden they're not nearly as you know full-throated about going to war with iran and everybody around the world especially the center of the american electorate goes what the fuck is wrong with you people you're just trying to get us involved in a freaking war with the russians and the iranian and so nuclear war what are you out of your minds oh but Iran is evil and they're doing this and no we're not doing that you've got two generations your generation my generation my generation and older and younger are all like skewing completely against the whole idea of supporting

Starting point is 00:12:52 Israel this way. You know, not they're not all anti-Israel. They're all anti-Semites. It's just like, look, dude, if Israel, you want to fight, you know, you want to survive, fight your way out of it. It's not our freaking problem. We're not paying for it. So it's the perfect moment in time for Trump to say, okay, we're going to support you up to this point, but no further. Again, you set up the scenario where they all lob missiles at each other. They'll beat the crap out of each other. Toronto takes a beating, the Iranians take a beating, the Israelis take a beating. I said from the beginning of the war, I'm like, what do you hope for, Tom? A tie and a bunch of injuries.

Starting point is 00:13:26 I want them both neutered. I want them both humbled before the other one's power, especially if the larger powers, Russia and the United States, refuse to get involved in any functional way other than to defend both sides, which is effectively what happened. Hell, even Russia didn't even defend the Iranians. Just let them just let them be. Why? Because you can't be seen taking, really taking sides at the end of the day because Israel is as much a Russian project.

Starting point is 00:13:58 This is a British project. There's a lot of Russian Jews in Israel. A lot of Russian Jews in Israel. So he has a political issue there as well. So now that lays itself out. And then Trump turns around and goes, okay, we have one outstanding issue, which is, Israel's Kazas Beli. Iran's nuclear program.

Starting point is 00:14:19 So what does he do? He lifts off the big frigging B2 wing and sends it halfway across the world from Missouri and bombs the crap out of Ford Al and the rest of the area. Doesn't matter whether those bombs were real, hit the actual facilities or didn't. It does not matter one whit. What matters is that Donald Trump then, Iran's no longer, has a nuclear program. Israel shut the fuck up.

Starting point is 00:14:46 And it's done. and now all we have to do is figure out how to deal with Gaza, which he's dealing with. And he's doing actually a very interesting, and so it's actually a very interesting job of how he's dealing with this. So, and that's a more complicated, you know, scenario for another day. But understand that that's exactly what he's doing in Ukraine as well. Okay. He's allowing everybody to get everything they want and still not be very happy, which is exactly what happened to Israel. And it's exactly what happened to Iran. And I could go into whether I think that, you know, how the British were playing both sides of the conflict, which I think they were.

Starting point is 00:15:24 Same the way the British are playing both sides of the current conflict, which I think in Ukraine and Russia, which I think they are. Okay. Like, meaning both sides being Ukraine and the United States, not that I'm not saying that there are MI6 assets controlling Russian policy. That I don't believe at all. I don't think the British have any functional assets other than undercover assets. that can pull off combined arms terrorist operations inside Russia, like going after the nuclear triad or the Moscow opera house or blowing up Nord Stream 2 or whatever.

Starting point is 00:15:57 Like that, I believe they have, they still have plenty of operations, operational competence in. But as far as like having anybody in the Kremlin, that's credible. Fuck that. They all died years ago. So, but I do think that, you know, that's a scenario. And Trump is walking us back from being directly involved in this. He has the ability now to walk away from NATO if there's a, if there's a provocation here. You know, if you think that,

Starting point is 00:16:31 you know, if you think I'm crazy about that, why did we send advisors and observers to the Russian combined Russian Baylor, Bailor Rissian war games last month? Yeah. For the first time since the beginning of the Cold War. the original Cold War, because clearly this is, we're letting each other know what our capabilities are. That's unprecedented in post-World War II history. That's far more important than any fucking tweet that Donald Trump puts out. By the way, Donald Trump says a lot of things. A lot of things are done for any lies for strategic ambiguity, any lies, any lies for strategic advantage. So if you met Donald Trump, do you believe every word that comes out of his fucking mouth?

Starting point is 00:17:15 because I don't. But I do believe, but I watch the the after effects of the actions that he takes. And everything makes, you know, everything makes sense from a steakcraft, from a very subtle stakecraft perspective. And the problem that a lot of people have is they believe all this, this British Democrat bullshit that Donald Trump is a moron. Donald Trump is not a moron. And he's not being advised by morons.

Starting point is 00:17:38 He has very, very smart people around him at this time. And, um, and he's got a lot of experience now. that he didn't have the first time around. And so, dude's not dumb. I mean, I'm not saying that he's perfect. And I'm not, you know, I'm not here to like, you know, I'm not going to suck his dick or nothing.

Starting point is 00:17:57 But I'm like, dude, somebody has to make the argument that, you know, Trump's not an idiot. And that anything more simple, anything more complicated than, it's all the Jews, man, is not 5D chess. That's bullshit. That's bad, adolescent,

Starting point is 00:18:15 First grade geopolitical analysis. And too many people are taking, too many people are spending their time in that headspace. So let's get back to real statecraft. Whatever happened to, you know, people who understood how this shit's supposed to work. We haven't seen statecraft for so long. We have no one, you know, when we're staring at it, we don't know what to do with it. I mean, I'm at the point now. There's only about five people I can even listen to at this point because everybody else is a screaming baby.

Starting point is 00:18:40 And that includes like friends of mine. Like people, I can literally consider my friends. And I'm like, what did I just hear? Are you, what the fuck? Are you 12? Really? Come on. So, you know, we live in a world.

Starting point is 00:18:58 We're all being gaslit by morons on a regular basis, paying taxes to pedophiles. And we're all free and stressed out and over, you know, and just over inundated with bad information. Take a step back. Look at where we are. Look at the world and go, wow, we have a real, the real big problem right now is not Russia, Ukraine. Israel-Iran. It's Portland and Chicago. That's what you should be worried about. You should be

Starting point is 00:19:24 worried about the fact that these people are running a fucking, the same Civil War color revolutionary plan that they ran on freaking Ukraine and Georgia and everywhere else here in the United States. And they've been setting up for 75 years, if not longer, because it's now being literally popped off on a daily basis. So that's the question we should all be asking ourselves. That's what we should be focused on. And then we should be asking ourselves really, you know, And I don't give a shit if you're a bitcoiner, you're a libertarian, you're a card-carrying fascist, you're a Groyper, you're whomever. I don't get a shit.

Starting point is 00:19:55 Like, are you going to fight for your home or are you going to sit back and, you know, be a little bitch? That's where my, that's where my head is. And I'm, I'm, it's very simple. There are commies and there are patriots and, you know, we have to reduce it to that. We're a freaking war because these people will not, they will not give you the benefit of the doubt. So there are not two. There are two sides here.

Starting point is 00:20:20 There are the communists and the nihilists that have been radicalized on both sides, both the hardcore right, supposedly individualist right, who doesn't want to do anything, and they've been neutralized, and the Trantifa left, and the, you know, Soros, globalists, and they're all useful idiots against what's really important. It's the American middle class, and the American middle class needs to wake up, understand who they're, who's actually fighting for them and what concrete steps are being taken to fight for them and to stop the radicalization of our society so that we can stop the Marxist, you know, the push to Marxism, which is what's happening, you know.

Starting point is 00:21:05 And but Marxism is just a dodge, dude. This is really just about power. This is really about, you know, the upper strata, right? The high, what we go with John Wick table, we'll call the high table, right? in John Wick terms. I used to call Davos. And it kind of is Davos. Which is the stratum, most people don't understand.

Starting point is 00:21:25 Most people look at middle management, like, you know, Pelosi and, you know, Gretchen Whitmer. And those people are all freaking lieutenants in middle management. They are important. George Soros is at best upper management. The real players in this don't have Wikipedia pages. You don't know who they, you don't know their names. You know some of their names. but you don't know most of their names.

Starting point is 00:21:48 And every day they have to kind of come out a little bit more. Maybe Bill Gates is just, man, if that guy's not important, they'll throw that guy under the bus tomorrow. I think of shit. Like, you know, he still has to punk his coin down at the, you know, at the Continental.

Starting point is 00:22:04 You get a room. Like, you know what I mean? Like everybody else. So I keep, like, the more I think about the John Wick mythology, the more I realize, holy shit, they were like, they were trying to tell us something.

Starting point is 00:22:19 I think it's why it resonates so much too, right? I think they actually may have accidentally stepped into something with like, it was unbelievably believable and seemed to fit as almost a theory of what's going on in the background. Are you sick at the Fiat-funded fast fashion that falls apart quicker than the dollar? You know, the cheap stuff made to drain your wallet one inferior product at a time. Stop it. There's a better way. Panties for Bitcoin is a family-oriented company built by Bitcoiners for Bitcoiners

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Starting point is 00:24:10 I want to tease that apart a little bit then. So let's jump back to the shutdown and we're firing and we're going to doing, we're looking. it like I think it's like over a trillion in cuts potentially I think you're suggesting coming forward. No, yeah, easy. Would, so one, does that also then, does what they're currently doing also expose? You're talking about money lighting up. Does that also expose different sources of money lining up when they do this sort of a move?

Starting point is 00:24:32 And then how do they kind of respond? What do they actually do with that information? And then number two, would this explain why Jerome Powell's cutting? Or raise where he's resumed the cutting cycle? Because what caught my attention from our last conversation was this idea that we have kind of a Fed versus ECB kind of U.S. versus global is kind of going on and that Powell was actually trying to defend

Starting point is 00:24:48 the U.S. or putting in kind of the in that sort of a position by basically putting the screws to them by keeping interest rates high. Sure. So why is he cutting? Why is he cutting? But it would make sense if they're looking at cutting. This time in the credit cycle Nathan, it's not that hard. Like, you know, the

Starting point is 00:25:03 game board has changed and we're in a different portion of the credit cycle now. And we also have a different monetary system than we do. for always the different fiscal policy. Now we have tariffs bringing in, you know, balancing trade. Now we don't have dollars coming out and cheap Chinese goods coming back. Now they're coming back and we're getting paid for it.

Starting point is 00:25:22 Now the scales or at least fiscally are beginning to be balanced. If vote is able to get done what needs to get done and if the Democrats come back to the table with their tail between their legs before, you know, quickly, this shutdown is going to have been like kind of worthless because then they're going to be able to, you know, play the, they're going to be able to, um, um, go back to their extended and pretend game, right? But if it does go on until, um, day 61, then all of a sudden, all those assets that used to be there are going to be gone, like these people are going to be gone. They're going to be lists of people who have outed themselves as obstructionists and traders

Starting point is 00:26:06 within their departments, still working for Obama, for example, you know, and, uh, to protect to protect Obama or to protect some other, this, that, or anything else. All those things are going to be done. Now, and those people will be gone. And then all of a sudden, like, we can get all sorts of stuff done that we couldn't get them before. Right. And so a lot of the obstruction that we've been seeing to

Starting point is 00:26:26 the agenda, to remake America, make it much more constitutional and conception, which is also a big story of 2025 that nobody wants to talk about, which is that the Supreme Court has properly defined, helped properly redefine the Article 2 powers of the president by Trump poking the snake, letting the judiciary overstep its bounds, and then the Supreme Court comes in and slaps their hand and says, no, you don't have that power.

Starting point is 00:26:54 No, you don't have that power. No, no, you're a traffic court judge in Maryland. You don't get to set foreign policy. Okay, sorry, it doesn't fucking work that way. Like, but that's where we were and that had to be dealt with, right? in order to get Trump the political capital he needed on Capitol Hill to neutralize his, again, to neutralize his opposition. These are the things you have to do so that they can't stand up there and grandstand about his, you know, that you can't even let Republicans, squishy Republicans, well, like, this is bad. No, no, no, no.

Starting point is 00:27:25 Every time this happens, it strengthens Trump's ability to do the job and gives him the mandate that he, to implement the mandate he was given when he was elected to continue to do it. doing. So the Democrats get up every morning and they post some stupid thing on Twitter. Did you vote for this? And we're like, duh, yeah. No, we voted for more than this. It's been a little too slow, but we'll take it. Okay. You have no idea how angry we really are. And you're beginning to see it. So that's one. So then let's factor this in. Now let's bring that forward to where we are with Powell. Powell held off cutting rates, while Trump, you know, lamb-based him K-Fabe style for six months. Two reasons. The first reason was he was continuing to support Trump in his trade negotiations by creating a strong dollar,

Starting point is 00:28:11 by helping create a weak dollar and a strong, you know, euro, yen, pound, and everything else, which then on top of the tariffs meant they were getting squeezed twice. So they were getting, they were having to pay tariffs in a stronger currency. Like, it was insane, right? That's what ultimately, so Powell was supporting Trump with high, with not cutting.

Starting point is 00:28:35 Moreover, Trump hadn't put any wins on the board. From Powell's perspective, I went over this on multiple podcasts, but I'll do it again here. The June meeting was right in the middle of the 12-day war between Israel and Iran. I think Powell should cut 25 basis points at that point. Move to the July meeting. Hasn't cut a trade deal, major trade deal with China, the EU or anybody else. Now, after that meeting, right after that, the EU comes in and sues for peace. So, and then Powell, who is, likes to use Jackson Hole as a mechanism by which to announce

Starting point is 00:29:12 changes, fundamental changes to monetary policy, goes to Jackson Hole and says, hey, we're scrapping the 2% inflation target, which every idiot on the planet thought was inflationary because they all read zero hedge too much. Sorry, zero hedge, but you're wrong on this and you have, and you have been wrong on this for a long time. Not everything in the world is QA. Sorry, I know it sells advertising, but it's bullshit and please stop lying to the world. The 2% inflation target was globalist 101.

Starting point is 00:29:40 It was put in place by Bernanke unilaterally in 2007 in anticipation of the financial crisis that they knew they were creating so that they can inflate the global monetary system post 2008 with QE and zero bound interest rates in order to do exactly what they've done, which is to create unprecedented inflation in hard assets, real estate, stocks, bonds, gold. everything else for the last 15 years. They did it on purpose. It was just policy. The 2% inflation rule was a globalist best practice. Right. They all do.

Starting point is 00:30:17 Everybody does. The 2% inflation rule is. Bullshit. 15 years old. 18, 16 years old. It's all it is. Okay. 18 years old.

Starting point is 00:30:25 It's bull crap. Powell went, going back to the dual mandate. And I'm going to focus on labor. Well, isn't that exactly what Donald Trump wants him to do? which is to, you know, push forward with lay, push forward with improving the plight of those that are working. How do you do that? And that's why Trump wants lower interest rates because what he wants to do is, of course,

Starting point is 00:30:49 bring Fannie and Freddie out of conservatorship, IPO them, overhaul their loans, the loan structure, get us back to the pre-2008 lending standards, you know, suspend the rules. They're going to be, I'm telling you what they're going to do. Scott Besson's already told you what's going to happen, which is going to declare how, an emergency and housing, hopefully while the government shut down, suspend Dodd-Frank so that we can start lending to the middle class again. Because the middle class can't, small business owners have an unbelievable capital requirement to get a fucking mortgage in this country. Okay. And it's insane.

Starting point is 00:31:24 And good lenders or good borrowers are being denied access, you know, to reasonable credit terms against property. So to either expand their business. or do what I'm trying to do currently, which is develop my second home up in Tennessee, and I want to take some money, cash out remortgage on my house here in Florida. And I've been fighting with the bank for two and a half months over credit. Like, you know, I can find, see how much money I make on Patreon? And you're asking, like, how can I get denied? Why is this being so freaking hard for me to get, you know, a freaking loan?

Starting point is 00:31:56 Well, because any reasonable tax avoidance strategy takes your money off of your W-2 and sticks it on your Schedule K, and Schedule K income doesn't matter. We're not allowed to use our schedule, okay, income anymore. We're not allowed to, you know, we're not allowed to classify our assets, our income as effectively dividends from our company, from our profits from our company,

Starting point is 00:32:23 and in order to avoid paying self-employment tax. And because of that, you know, I make 60 grand a year. Okay. I mean, it's better than me. Which is insane, right? But my point being,

Starting point is 00:32:37 is that I make more than 60 grand a year. That's pretty obvious. Like I said, you can go to fucking Patreon. You can see how much money we make. So, and I'm not like, I'm not bragging here. I'm just telling you. Like, this is, I'm not,

Starting point is 00:32:49 I'm not running into problems because I don't, I don't make any money. And I run an internet business. I got like no fucking cost, right? I, rant into a microphone. I depreciate. What's this thing is depreciated?

Starting point is 00:32:58 What are my costs to run this fucking business, right? So, you know, it's like, I'm like the perfect borrower. And I can't get a freaking note. Okay? That has to end. So we got to recapitalize the middle class in order to get the younger generations to start thinking that they have agency in their future and have the ability to get a home, start a family, build a business, do the thing.

Starting point is 00:33:23 Build middle class. Again, it's always just fucking commies. What's the first thing in the commies trying to do? Kill the Kulaks. Destroy the bourgeoisie. what's the what's you know what is the most what is the biggest impediment to a communist revolution a fat and happy bourgeoisie making money a middle class we have to destroy them they have to be struggle session to do hating themselves and you know cutting their they're the boys dicks off and

Starting point is 00:33:52 and everything else we have to we have to do this because if we don't do it then we're bad people like what are you out of your fucking mind like so this has to end okay and this is what we're fighting And, oh, by the way, that means we're going to have to accept the fact that we're going to have paramilitary organizations like ICE and the military itself go in and wipe all these kids up that are running around in black block being paid $20 an hour to protest on behalf of George Soros and the British government, whom he works for, by the way. And it has always worked for by the way. George Soros is the creation of MI6, Richard Poe. My friend Richard Poe has the has the receipts on this dudes. Even when he attacked the pound? What's that?

Starting point is 00:34:33 Even when he attacked the pound? He attacked the pound in order to get rid of Thatcher to move them into the Euro. City of London has never been, never been for the British people, well, the English people. The term British, as my friend Ian Burlingame would put it, is that's a, that's a, that's a hybrid of the shitbag upper class and the, and in England, in the UK. Plus the old, you know, Dutch and Venetian banks and all those. It's that group. It's what I call Davos. It's the old banking cartels.

Starting point is 00:35:10 Those are the people who ran the British Empire. And, of course, Little England and Scotland and Wales and Ireland, they all got fucked. Same way that you, same way that Mississippi got fucked. Same way that Ohio got fucked. Same way that Idaho got fucked. Okay. Same thing. Same way you read California.

Starting point is 00:35:30 California got fucked. Okay. Same way upstate New York has been getting fucked for 100, 200 years. Okay. So understand that, you know, that's the scenario. So in order to fix that, you've got to get housing under control. You've got to, that's why Powell has to cut rates now. He's got to get mortgage rates down.

Starting point is 00:35:56 But he can do so in such a way that he can create a, the domestic cost of capital, that's far lower than an international cost of capital for access to the dollar market by creating a bit of a wall. So we're going to keep the cost of buying euro dollars high through tariffs and other means, but lower the cost of capital internally for the American people to get access to capital at lower rates and then put Fannie and Freddie back on the market at better borrowing terms, which makes it even easier for them. people to go out there, get a starter, young people to get decent, halfway decent jobs, get a starter home and start the process of building a family, building wealth.

Starting point is 00:36:40 Because the 30-year fixed rate government-sponsored mortgage is one of the greatest American inventions of all time. And the libertarians hate it when I say this. And the Bitcoin guys hate it when I say this, but it's true. Because the term structure of a 30-year note to an average net interest margin bank is too much risk for them to take at a reasonable interest rate. I was explaining this to Cedric last night when I was on his podcast, and I'll do, I'll do a quick job of it here.

Starting point is 00:37:07 You've probably heard the term 363 banking. Okay? Do you know what 363 banking is? Nope. Borrow at three, landed six, golf by three. Beyond the golf course by three o'clock. I'm glad you guys know. Yeah.

Starting point is 00:37:21 No, that's, no, that's, Gary, it's, it's a, it's a classic statement. What that means is the borrow at three is that you're borrowing from the depositors in the bank. You're going to pay the depositors in the bank 3%. You're going to lend at 6. You're going to take three. They're going to get three. And then it's nice and simple.

Starting point is 00:37:38 It's a simple term structure. And then you're on the golf course by three. Bankers' hours. Have a nice day. I got that one. I figure that out. I do thank you for explaining. I know.

Starting point is 00:37:48 I thank you for that. Not just for Gary, but for everyone else. For everyone not Gary. Okay. Now, for a five or seven-year mortgage, let's use the seven-year mortgage because it makes the math easy. Seven-year mortgage, that's a lot of cash flow. You've got to put 15 or 20 percent down.

Starting point is 00:38:10 You've got to finance that over seven years or maybe only put 10 percent down. Then you've got to finance over seven years. And now think about the amount of money you have to pay. FYI at the same interest rate, let's call it 7 percent, 6 percent. Well, it's called 6%. 6%, right? Your mortgage on a 30-year fixed rate note is X. If you want to pay that note off in seven years, pay 2x every month for seven years.

Starting point is 00:38:42 So same interest rate, a seven-year note is going to have, say, a $1,000 a month payment. And the 30-year note would be a $500 a month payment. And so if you took out the 30-year note and paid it off $1,000 a month and applied the access to principal, you would pay the note off in seven years. You don't believe me, go to Dr. Calculator.com and do the math yourself. It's right fucking there. Now, I know I did this, like literally recently. So, but here's the problem.

Starting point is 00:39:10 You don't borrow at seven years at the same interest rate you borrow at 30 years, right? Because the term risk to the bank, you've got to say to you're going to be in there for 30 years. Well, we need higher rate than that. Because your risk of default goes up. So it's not, so the 30 year fixed rate more is, is not 360. three banking. It's three nine three banking or three ten three banking. Okay. So at that point, any advantage over the of the 30 year note in terms of, um, of cash flow to the middle class

Starting point is 00:39:40 evaporates to take the 30 year note, right? Because you're now you're paying your monthly cost is so enormous. Moreover, you now have to figure out how to utilize that capital and make 10% in order to offset the interest rate on your mortgage, right? Right. You've got to take the money that's left over, that little pile of money left over, and you've got to make 10% on that. And honestly, there's so little money left over, you can make 25% on that money in order to offset the cost. When you start to do the math, it's horrific. So it's a bad deal. So you're not going to do it.

Starting point is 00:40:10 So enter Fannie and Freddie. What Fannie and Freddie say is the following. Fannie and Freddie are just an insurance company. They just turn to the bank and go, look, we'll guarantee the note. Lend to them at six. We're going to charge them $75 in insurance premium or even $100 in an insurance. premium. So we're going to go into a fund to socialize the cost, the risk over the 30 year note here. And the, the homeowner gets the 6% note, $600 a month, we're just using the math.

Starting point is 00:40:38 I know that math is like ridiculously low, but let's just use the, just use that math, right? And, you know, you pay $600 a month as opposed to paying $1,400 a month. And they can take that $800 a month that they would be paying on the three, on the nine percent, 30 year note and they can use that to save, invest, start a business, this, that, everything else. And they can use that, then all they have to do is beat 6% in the market, which when you know that the S&P 500, you know, with dividend of reinvestment and even pre, you know, 6% is not hard to do. Moreover, Fannie and Freddie then bundle up all these mortgages, create a mortgage-backed security,

Starting point is 00:41:23 and sell part of the cash flow on that mortgage. which also further offsets the risk of the bank to the insurance companies, the pension funds, to shareholders and Fannie and Freddie and everybody else. And so what they do is they actually slice up the thing. You're not going to get them no to 6%. You're going to know, it's six and three quarter or whatever, right? Six and seven, five, or whatever it is. Like, it's not going to be nine, but it's going to be much lower.

Starting point is 00:41:51 And then those extra 75 or 100 basis points that you would be, you would have paid if it was a 7% note, get sliced up across the entire system and securitized. And the entire country, the community, benefits. You can buy a whole life insurance at this policy rate because you're actually getting a payback on the note. You're actually getting a rebate on the interest you paid on the note on your own house and it's going to your insurance company who then invests in this and blah, blah, blah, blah.

Starting point is 00:42:18 And everybody's reinvesting that money, you know, in the way that makes sense to them. And it's all being, it's not just you and the bank. It's now the community at large building the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the sorry, folks, that was the only way it was ever going to go. And, you know, because that was the only one who would have the ability to have the cash flow and everything else to get it done. So there's an implicit bailout provision within fanny and Freddie. Now, the problem is, of course, not everybody, I'm saying all of this, right?

Starting point is 00:42:56 And everybody's going to now flashback to 2008. When you realize that Fannie and Freddie were not the problem in 2008. It was AIG that was the problem. And Fannie and Freddie were made to pay the price. And Obama, Geyther, and Hank Paulson stole Fannie and Freddie. Put it in conservatorship, stole all the frigging money, took an 80% percent, forced the companies, give the government an 80% share in the freaking companies, and then left them a conservatorship for 17 years while they're making money hand over fist. Which then goes into the general fund.

Starting point is 00:43:25 and they was used to pay for Obamacare. It's disgusting. They sold the money from the shareholders. Listen to Trump's talking points on this. They stole the money from the shareholders. They sold the money from everybody. They just ripped off hundreds of billions of dollars and then used it to bail at AIG. And, you know, because Hank Paulson refused to bail at Lehman Brothers.

Starting point is 00:43:49 Because, you know, he's Goldman Sachs. Like, this is so much of what went on there. You go back and you look at what was actually done. You realize. that it was all a fucking globalist operation to destroy the U.S. fixed rate government-sponsored 30-year mortgage, which was the engine of growth for the middle class in the United States. So what we wound up with was 20% down, can't use your books if you're a small business owner, you got to use your tax returns, blah, blah, blah, all this bullshit.

Starting point is 00:44:17 Why, to deny us access to capital while they then went to the zero bound, jacked up the fucking cost to housing to IEDA so that the average millennial now needs income. times is staring at a starter house is income times five in value as opposed to income times three right yeah meaning you make 50,000 dollars you can afford a hundred and fifty thousand dollar house right you make combined together you and your wife you make 90,000 dollars you can afford a 270,000 dollar house but no they can't they're not making 90 grand a year they're making fucking 75 grand a year and a starter home in a decent and a decent neighbor it's 350 grand so now it's income times five and the houses and if they're in their 40s and they've got two kids and they

Starting point is 00:45:01 are three kids and they want to move up to a bigger house now is income times nine how are they going to afford this they're not that was the point point was to destroy our ability to get into homes because the goal and then sell all those fucking houses the goddamn black rock and blackstone vanguard state street and move the rest of us in the 15 minute are colleges living in communist shit holes like New York so that they can have their, they can have their, you will own nothing and be happy bullshit. This is their fucking plans, dude. And this is, I'm more and more convinced every fucking day I get up. I look at this and I'm like, oh, God, that's why they want.

Starting point is 00:45:39 That's why Trump was barred from firing Mel Watt at the FHFA in his first term by the Supreme Court who were, Watt refused to leave. Trump wanted to fire him and Trump couldn't fire him because the Roberts court at that time would not allow Trump to execute his Article 2 powers it ain't 2017 anymore folks

Starting point is 00:46:08 and what kept Fannie and Freddie in conservatorship the entire time the only thing Trump could do was get rid of the net the net sweep that profit sweep of Fannie and Freddie into the government coffers and so for the last and eight years, Fannie and Freddie have been building a massive capital base within the company,

Starting point is 00:46:27 $140, $150 billion in free cash. I was just sitting on their accounts in T-bills for fuck's sake. The two of them together make $29 billion a year. They're the ninth most profitable company in the world run by moron, government apparatusics making $200 grand a year. If they were actually run by professionals who knew how to run a mortgage company, this company can make $70 billion a year and be the most profitable company in the world just servicing American mortgages.

Starting point is 00:46:57 Now imagine if you open a penny and Freddie to help bail out fucking Canada from Mark Kearney or the north of England and the Midlands and those poor starving fucking farmers were starved of capital and everything else. That's what Trump's plan is. Now, if you're the fucking king of England and you're Davos, you know goddamn well that you can't let that happen. Moreover, once it all starts to happen, once it all happens, then all of what happened comes the light and Obama swings from the fucking rooftops from the gallows over the Washington Reflecting Pole, which is what he should do.

Starting point is 00:47:36 Do you think they're actually going to be able to go after him? I think that's everything Trump is doing is to go after Obama. I'm not kidding. And I know that, God damn, if I was president, that's exactly what I would be doing. And I would be coldly calculating with my consent. in Cigelier, Stephen Miller, to figure out the order of operations to get this done. And if you watch really carefully, it's pretty obvious that Stephen Miller runs the Gant chart at Trump 2.0.

Starting point is 00:48:02 And it's being run up in opposition to the Gant chart over Evil Corp Central, Davos, whatever you want to call them, over there. And two of them are clashing. And every day, Miller runs an operation and they're having to move stuff over here. and they're having, they're responding to them. As far as I can see, again, this may be my fan fiction, folks, but this is what I see. And, you know, I'll put my analysis up against anybody else. I see that the Trump administration has control of the operational tempo, not Davos.

Starting point is 00:48:36 And everything that Davos and the British or the British or whomever are doing is all rearguard action and reactive play. And every Thursday, Trump resets the frigging media cycle and moves and moves it on to a different story and then lets them figure out what to do over the weekend. And then he moves the story again next week. He's been doing it masterfully every week since he was reelected. That goes back to the transition. It's been masterful. And you can say what you want about Donald Trump. but you're going to say that he's not a master of media.

Starting point is 00:49:18 You're going to deny him that too? Really? Okay. If you want to do that, I know you guys don't want to do it because it's the Royal view. There are people in this audience. There are going to be people in this audience who don't want to believe a word that I'm saying because they want to believe that Donald Trump is an idiot because they want to believe

Starting point is 00:49:30 they're the smartest guy in the room because that's how libertarians like cry themselves asleep at night at this point. Sorry, folks. That's the way I feel having like run into this over and over and over again. I'm like, I'm done. I'm over. We're in a foxhole. This is a war.

Starting point is 00:49:44 You're a foxhole. no libertarians and no atheists in a foxhole. Sorry. You know, put the non-aggression principle aside or say whatever you have to do in order to make your peace with it. But every day you get up and you get out of bed in the morning and you're paying property taxes to the fucking king, I got news for you folks. You've already been aggressed. You have every goddamn right to pick up a rifle and start, you know, metaphorically speaking in Minecraft and go after these people. Every right in every way.

Starting point is 00:50:13 You are being aggressed. they are stealing your life every day. They steal 65% of your life every day. And you're going to tell me that we have a, I mean, that's the average tax rate overall, right? But we spent 65% of our free and you're going to tell me that you're not being addressed. I thought taxation was death.

Starting point is 00:50:29 So at what point do you think it's okay to then start fighting against that system? And maybe you should organize and fight against that system. And maybe, just maybe, you've got a central bank and federal government that's going after the real enemy, which is not the central bank and the federal government, but the high table. And then once you take out the high table, then you can turn to the central bank and the federal government. Then you can turn to the state government, blah, blah, blah, blah. But that's a different. That's a fucking, I'm not going to live to see that game. Like, no, not unless, you know, big medical breakers and I get to live to 150, which will be

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Starting point is 00:51:48 Okay, I want to tease this part a little bit, so I'm sure I'm following everything correctly. So particularly with like Ukraine and what was going on with Israel and Tehran, that was a way for Trump to step away from them. It was a way to basically have, make it their problem and go and focus domestically. Now, if we're looking at what's going on with the current shutdown and then the cuts, so my first instinct there was that if they actually cut a trillion,

Starting point is 00:52:06 that's that the fiscal, I think matters more than monetary policy right now, that would drain a lot of liquidity from the system. But if you could actually set it up that, millennials and Gen X are able to then get mortgages on better terms, that money would then be flowing to the boomers. The boomers are already in retirement. They're actually going to be spending it circular locally as well, too. Yep. You have a bunch of, you have a, and remember, the, the, the, the millennial, we case, two things.

Starting point is 00:52:29 One thing is, this is the interesting part. I'm worried about the millennials, because I think, I think in terms of when I was graduating college, when I graduated college, I got a job with local environmental laboratory, bench chemists, 17 grand a year. Well, 16, and after six months, they gave me a race to 17. Within a year and a half, I was thinking 20. 20 grand, right? After 10, 15 years in the industry, I finally got a job over at, you know, at UF as a chemist, making 35. 35 grand. I'm prime of my life.

Starting point is 00:52:58 Like 38 years old. And I'm just about to have my first kid, blah, blah, blah, and maybe 34 grand. Building my house that I'm living at, you know, having to build my house because I can't afford to have somebody else build my house. Right. So now, and I, when I say I built my house, that means. hammer honor honorary amishman go out there pound hammered nails screw guns fly boards do the whole fucking thing not stand around and watch somebody else do it and i'm the general contractor no it's pretty cool man we did the whole fucking thing other than the installation and build the trusses but

Starting point is 00:53:30 we had to fly the trusses ourselves we had the roof the fucking thing we had to pour the foundation we did it all wow now yeah yeah like when i say i've lived that life i have the fucking receipts now The millennials enter the job market in the early aughts. What are they making? You know, I started at 17. What do they start at? 20. Well, probably 30, 20, yeah.

Starting point is 00:53:55 20, 22. 20 is a good job, you know. I remember, oh, my God, I can make 28. I negotiated for 28 in like 2002. Okay, so think about that. Okay. They're now in the prime of their careers. What are they making?

Starting point is 00:54:13 45. A couple of millennials in their 40s are like, you know, they're, you know, they're professionals. They do the thing. They make 43, 45 a year. Really? It sounds like my daughter. My daughter, minimum wage is 28 grand a year. Okay.

Starting point is 00:54:31 My daughter, I like to use this example because it's perfect. Comes out of high school at 18 years old through, you know, yeah, she had a connection, blah, blah, blah, blah. But she was able to get an entry level job over at UF and Department of Dermatology, making $16 a hour, 32 grand a year with benefits. Now, that's not normal. I'm going to agree. Most kids are getting a bagger's job making $13 an hour, or they're doing day labor for $15.

Starting point is 00:54:57 But so what? So, like, when you stop to think about that, 32, figure in a year, she's making $35, reasonable. 35's 20 years old, right? 20, maybe 21. He's making $35 grand a year. She finds a guy making the same amount of money. That's 70. That's income times three.

Starting point is 00:55:17 That's a 210. I got news for you, even in Gainesville, she can start gentrifying old neighborhoods in Gainesville, $210,000. You can find properties for less than that. Or you have to maybe go out, you know, you can find it. It's rapidly not going to be the case, or they have to buy a two-bedroom condo or whatever to get started. But they have making a starter home, right? So that generation, I think, is okay. I think we've already had the wage inflation, or at least most of the wage inflation for the lower, for the younger kids.

Starting point is 00:55:50 but it's the tweeners it's the late 30s early 40s millennials they're not making enough money to then move up and then you know have everybody go from the starter house to the next house to the next house who are the boomers going to sell to they're not going to sell to anybody because nobody can afford their price so trump is going to have to recapitalize the boomers by i think and this is my my idea and i've run this idea by other people it's not just my idea we this has been brainstormed but you do some kind of reverse Yelock where you, where you borrow, where the government borrows against the equity you have in your house and 80, 80% loan the value ratio. And then you pay them, you know, T bill rate or something and they have a extra cash flow. And that offsets the cost of living.

Starting point is 00:56:34 They just never give them another cost of living increase for social security. Period. And then the government gets the cash to then retire some debt or, you know, whatever they have to do, the short things up. Because Trump's brought in so much money from the, uh, from these trade deals that he's going to get to invest with with a blank check, by the way, that he doesn't need that cash. What he needs is to offset what you just said, the deflationary spiral of, you know, of cutting a trillion dollars from the government spending. So that money has to, that, that money velocity has to be replaced in some way.

Starting point is 00:57:10 That plus the, um, the getting the kids into lower monthly, cost mortgages and breaking the cycle of black rock and blackstone and state street buying up residential housing selling it to each other at inflated prices and then tripling everybody's rent which is these fuckers have been doing to set markets that are that that are beyond you know beyond the pale and then sell them the boomers and then retire to florida take that money and you know and then you look at their kids and go why the fuck can't you why can't you do it Yeah, you don't even, I mean, it's so, God, it's so annoying, so obvious what they're doing. But those two, those two, and that's the other reason why Powell will be cutting interest rates in order to stave off the credit, any credit deflation from the softness of a, of that, you know, in the credit markets from four years or three years of high interest rates, higher than than neutral interest rates on purpose, done to bankrupt and to really put Europe behind.

Starting point is 00:58:19 the eight ball set that that that that that tariff wall between the offshore dollar and the domestic dollar and then start to recapitalize the country that's what I think their their plan is it's not going to be easy and I don't think we're going to have you know this is something I've argued with like Dave column with on multiple podcasts and other people and and it's even an argument that myself and Dexter White are having within gold goes and guns as we talk about these these issues and I'm like I just think we're going to have a stagnationary environment where, you know, we're going to see a reorganization of the economy away from hyperfinancialized assets to, you know, infrastructure, basic building stuff. And there's going to be some commodity and there's going to be a rotation.

Starting point is 00:59:03 AI is going to, you know, get rid of a lot of white collar jobs because a lot of these people are less than useful than AI. And AI is not even a lot of fucking impressive. And these people are literally not doing nothing but marking fucking time. And they have to be. retrained and they have to, you know, find other things to do. I'm sorry, but, you know, just about every friggin, you know, crazy Karen cat lady in this country can pick, fucking strawberries as far as I'm concerned. Learn to pick strawberries. You need the sunlight anyway, honey.

Starting point is 00:59:32 You need to, like, you know, burn out the toxic off musings from hanging out with too many fucking cats. But that's a different conversation for a different day. But this process, I'm moving away from learn to code because why would you code in an age of AI? No, we have to learn to pig lettuce. everybody needs to become an honorary Mexican everybody should drive a low rider and stop driving Cubs

Starting point is 00:59:54 with small steering wheels so you can drive with your handcuffs old old sorry I should I should I should I should old terrible old freaking old freaking terrible old freaking racist jokes I'll tell an Italian joke just so we can we can balance the scales like you know what's an innuendo it's an Italian suppository so we're fine with that here Tom

Starting point is 01:00:15 I know you are I'm talking to the audience Like at a certain point, I don't want to piss off. At the end of the day, I think, you know, everybody should be able to laugh at themselves. You should always be able to laugh at yourself. And if you don't might, I'd like to laugh at myself here too, because I'm, I'm your libertarian. I'm your bitcoiner. And I'd like to think that I don't think I'm the smartest person in the room. In fact, I think I'm pretty dumb in a lot of ways.

Starting point is 01:00:40 But at the same time, you've touched on so many things here. I don't even know where to start. I guess I don't want to make this. a Trump thing because that's so fucking boring. Everybody talks about him constantly. But I did, I used to work on Capitol Hill. I did for about six years. And when people ask me, you know, what it was like and what shows, you know, get it most accurate. I would always tell them if you're watching like the West Wing, it's not that. Everybody is high minded and principled, you know, whatever. It's not that. But also on the flip side, if you're watching House of Cards, I would always

Starting point is 01:01:16 joked them, we know with this like palis-indrical. I'm like, nobody in D.C. is that smart. So the one that, at least on the political side, the one that always shown, I feel like the most accurate to me was VEP. Have you ever seen VEP? No, I never watched it. I had been watched any of these shows. I can't stomach anything written by Aaron Storkin because he's a fucking asshole. And I hate Kevin Spacey for a variety of reasons. That goes well beyond any, you know, It goes back to American Beauty. As a matter of fact, I fucking hate that movie. Okay.

Starting point is 01:01:48 Fair enough. Yeah. But I happen to think Sorkin, just from a writing perspective, is a very effective television writer. Oh, he is. And that's what makes him so fucking dangerous, to be honest. Sure. I totally understand that.

Starting point is 01:02:00 So I would tell him, I watched Veep. Somebody had me watch it. And they thought I'd find it funny. And I didn't laugh once. And the reason I didn't laugh once is because it was so 100% on the nose accurate from my experience in my six years working on the hill. It's that these are human beings. They will, if, you know, if they have the opportunity and they don't have something better that's going to benefit them, they'll try to do the right thing. But if it's going to interfere with them getting

Starting point is 01:02:28 theirs, it's inconvenient. They're not going to do it. And they're human beings like you and me. They're not sinister mustache twisting. They're also not high mind or whatever. They're just human beings. And I guess I'm coming out from the perspective, like, and maybe I'm an idiot. Maybe I'm missing the high table and the Davos thing. I wonder, is Trump actually playing 73D chess here? Or I'm not saying he's an idiot. I'm not saying he's dumb, but he seems to have the impulse control of a 12 year old. And he seems to be not necessarily a visionary thinker or what's on my mind today. I'll tweet it today. And maybe there's people behind him doing things. And I, I, I don't know.

Starting point is 01:03:08 I, Gary, you're absolutely right. Let me put it to you this one. Sure. Bill Moore, when Bill Moore went to Marilago about a month, month and a half ago. Yeah. And he was like, wow, why don't I get to see that guy that I met at dinner last night on TV every day? I'm like, yeah, well, it's because Donald Trump is very smart that he, he, the, we're all different than the character we play on TV. Sure.

Starting point is 01:03:34 Okay. So, you know, Nancy Pelosi is, she's a nasty, nasty piece of fucking work. And then she goes out there and she wraps herself in the moral high ground. And, you know, the older she gets, the more the masks, she goes, dude, she's 80 fucking two years old. And she drinks a lot. Donald Trump, you know, Elizabeth Warren isn't as stupid as the character she plays on TV. Because she seems pretty dumb. She seems pretty bad, yeah.

Starting point is 01:04:01 She's pretty dumb. But she's, she's not that dumb. She knows exactly what she's doing. When she argues for unrealized capital gains tax on equities, she knows why that's going to be bad. And she knows who she's working for when she does that. Okay. AOC. AOC's not dumb either.

Starting point is 01:04:22 She's ruthless. She ain't the smartest chick in the room. She certainly ain't the hottest. But I think she's pretty hot for as far as politicians go. I said she's not the hottest. Fair. Fair. there like that goes to you know on the certainly not the hottest on capitol hill i'll take calsy

Starting point is 01:04:38 gabbert over free a o c like every day of the week and twice on sunday but yes love you celtz um so but that being said you know she's not as dumb at she doesn't she's ruthless and she's conniving the same thing with comel harris comill harris is is you know calaharis is stupid i would say she's probably more mk altru than she's anything else right she has all those he has all those personality text. So I get what you're saying, but remember, these people are on middle management. That's what I was going to get at. Like, Trump feels middle management to me. A lot of them feel middle management. Trump is not middle management. Trump is not middle management. Trump is the president. And, and he could be like Bush, the lesser was middle management. Okay. Okay. Obama, not middle

Starting point is 01:05:26 management. Obama was immediately elevated to upper management. Okay. Hillary could have been upper management. She lost to Trump. She has now nothing. She's been excommunicated. And that's just the way that is. Hillary aspired to the high table because they're just

Starting point is 01:05:46 Arkansas grifters. She's fucking big Clintons. That's all they are. They're not masters of the universe. They're just drug runners from fucking Arkansas. They're exactly what you think they are, folks. So but Trump is definitely not middle management. I don't think he's in, but I do think that he is clearly backed by our version, our faction within, quote, unquote, the high table. Remember, my argument about Powell and the Fed was that Powell's not doing what he's doing without the backing of Wall Street.

Starting point is 01:06:25 He doesn't Trump, not Trump, but like what happened during the Biden junta doesn't happen without. certain people from Wall Street backing certain players. So we didn't get build back better in the infrastructure bills in their original form because Kirsten Cinema and Joe Mansions stood up and said no and blocked them. For months, they don't stand up and block them

Starting point is 01:06:50 if somebody's not standing them on the shoulder saying, you keep doing this, you're fine, you're not going to get killed, you're not going to get attacked, don't worry about it. Joe, your family's fine, your wife's not going to get killed. You do this. then that's it. If you don't do this, your wife and family are going to get killed.

Starting point is 01:07:07 Okay? That was the evidence. You have to watch the reflection of what happens when you understand why the, those two bills were so important because they were the mechanism by which to preclude Jerome Powell getting us off the zero bound because they were going to cost so much fucking money that the Fed was never going to be able to get off the zero bound. That was the point of those bills. It wasn't to destroy the country per se.

Starting point is 01:07:31 it would. That would be the downstream effect. But the real effect was they were expecting to pass bill back better, pass the infrastructure bill, not reconfirmed Powell for second term, put Lail Breiner and an MMT or in charge, and then destroy and then fully destroy the country. That was the plan.

Starting point is 01:07:48 And the fallback position was if Powell stays in place, well, we get this, if Powell survives, well, then he's got to deal with this bill back better bill, which is going to spend $6.5 trillion, which is going to preclude him from raising interest rates. So we've got to think of the flow chart and the dependency chart, the decision space of upper management. Okay. So the decision space of upper management, we're going to put Trump in charge.

Starting point is 01:08:10 We know what he wants to do. We know how he's going to do it. I can even make the argument that they let him lose the 2020 election so that they could finish the job of implementing SOFER and play this out such that they allow him to come back in 2024 to, to, finish the job that they want to start it. I can make that argument. I don't want to make that argument. Okay, I'm not here to make that argument. I'm here to present that argument. But that's an argument that a lot of people have made to me, and we have thought this one through. And if you pause it, as I have, that the real, the real sovereign-sist wing of the oligarchy that is America's royalty, whatever those, however you want to define those people, okay?

Starting point is 01:09:10 Strategically, retreating and letting the Democrats nearly destroy the country, might have been the right play. And then you just defend Trump just enough to allow him to come back to power. But I, you know, but I'll be honest with you, I just, I can make the argument, but I can't even convince myself of it because I got so many other ideas. I got so many other contrary bits of data and it's too much dependency and too much fucking chaos in my head to think that that could be even be possible. Okay.

Starting point is 01:09:48 So what happened was they lost in 2020. It's that simple. They got outmaneuvered. They got outplayed. And so they were trenched for four years. And then Trump survived Butler, Pennsylvania. And then they go all in. And they did.

Starting point is 01:10:06 The tech bros, Wall Street. Jamie Diamond, John Solomon, this one, everybody. They all went in for, they all went in hard for Trump. And Jamie Diamond gave the friggin, gave the game away during the primaries when he backed Nikki Haley. Now, he didn't back Nikki Haley because he was against Trump. What he was saying was to all of my Democrat friends on Wall Street and in Manhattan, it's okay to vote for a Republican.

Starting point is 01:10:41 You don't have to like Trump. If Trump wins, well, it's going to be Trump. But, you know, it's okay. You can cross sides and you can, and we can back her. You know why we can back her? Because she's an empty suit. And while she may have been a neocon and I think she was a plant for Davos, the city of London, real name's Nimrata, the whole Indian X-1B angle thing,

Starting point is 01:11:07 same thing and that was why they were pushing Vivek and her and you know why they kept trying to call Kamala Harris Black even though she's Indian and something else right like whole thing it's all right there in front of you but if you're my honest opinion like no lie to us Tom would have hated Nikki Haley as president but if diamond and Wall Street were holding her purse holding her purse strings then it would have been at least better it wouldn't have been good, but it would have been better. Trump and this crew is exactly what they played for, which was to get these guys in charge to do exactly what they're doing and to foment the war. The banks will back whatever, whoever's the winning player.

Starting point is 01:11:56 The reason why we called them all banksters and the reason why they were all terrible globalists throughout the 70s, the 80s, the 90s, all the way up into 2008 and even through 2015, was because globalism was ascended and the high table was running the table on all of us. And so they're bankers. They're going to roll with whoever's winning. But then when Trump won in 2016 and Brexit occurred in 2016, they saw their opportunity, pounce to strike, pull their plan are off the shelf, who invoke Dr. Strain and nuke the site for more, but it's the only way to be sure.

Starting point is 01:12:30 And they took their shot. And I think they're running it. And we're in a different timeline. Had Trump lost that election in 2016, we'd be in a different timeline. If Trump gets shot in Butler, Pennsylvania, we're in a different timeline. So, I mean, that's the way, that's the way I see it. And again, it's, I'm not trying to, like, craft the linear narrative here. I'm just saying everybody reacts in real time to what's going on, but everybody's playing

Starting point is 01:12:55 the game at their strata. Right. And I think that Trump, while he may, I, Trump is not middle manager. He's not. He's upper management. especially if he's meeting with the King of England, he's upper management. Because the King doesn't talk to middle management, except to give them orders. But he doesn't even really, I mean, he doesn't talk to, I mean, he has to talk to Kier Starrmer,

Starting point is 01:13:20 who's middle management, obviously, but because he asked him. But he didn't talk to anybody else. Now, the King of England is being deprecated constantly by Davos. So that's becoming harder and harder to believe that the King has any control over anything. And I can even make the argument that he doesn't. and that what Trump is, you know, he's a captured pawn on the table as much as anybody else. But, you know, again, these three strata, the high table, upper management, middle management, I think is a better way of looking at the organized crime syndicate that is the way our over,

Starting point is 01:13:55 the overstructure of the world works. And, you know, if I had to be ruled by, you know, organized crime and a mob strike, you know, then I'd rather be ruled by our organized crime than, you know, a bunch of shit. shipbag British and Dutch and even Italian. I'm sorry, I'm just done. I do not want to be ruled by fucking Frenchmen. Like, fuck off with that. I'm too Italian for that.

Starting point is 01:14:16 No, no Germans, no French. Fuck you. No. I get that. And certainly nobody from North Africa or the Middle East. Sorry, folks. Not buying it. Too Italian for that.

Starting point is 01:14:28 I barely stomach Greeks for Christ's. Are you kidding? I kid. No, but that's, I think that's standard human response. You don't want to have a foreigner taken control and you'll go with your crummy guy who's domestic just because he's your crummy guy. I get that. I guess you, you're far more well read than I am.

Starting point is 01:14:48 So I do have a question for you. You, you are, please. No, no need for false modesty here. No, no, I don't read a lot. I just, I observe a lot. I will say I'm very well observing, but I don't, I, do you think I sit and read books on this shit? I mean, people I feel like, I don't read books on this shit. I just observe what I see.

Starting point is 01:15:06 Well, I always, there's just so much that when we have you on, it's just so interesting to hear. There's just so much you're contributing things that I have never thought of before. But I do have this question because we've talked about, at one point talked about the American home being kind of like the engine of the modern economy. You talked about how you built your home. And I know you're not necessarily a libertarian, not necessarily a Bitcoin or in the sense that I am or maybe Nathan is. But I think we share in some respect similar values. I think I admire the fact that you are. You know, you built your own stuff, you're self-made. You have kind of an independent American spirit that I think is what built the country and I think is wonderful. And I'd love to see more of that. Let's see us get back to that. So on the other hand, I see we've done years well before 2007 of Money Printer Go Burr. And I've seen charts of how the median age of couples buying their first house is going up and up and up and up. So this old idea in my mind, and maybe I'm over

Starting point is 01:16:06 simplifying it, that we can just lower interest rates or print our way out of it and it's going to somehow make it more affordable. It doesn't fly to me. I guess my question to you is if you had a magic wand that you could somehow make America and Canada, there you go, Nathan. Please just save us. Great again. If you could somehow solve these problems and have a robust middle class, people being able to afford homes, having individual freedom so they can do and say what they want to do, you know, you live your life, I'll leave mine. What are one or two or three things that you would do to sort of make this happen? Well, the first thing is it's what's in process right now. We're watching pristine collateral Bitcoin gold. Remember, I, I, these, I, we haven't touched

Starting point is 01:16:49 on any of the stuff that so makes me a fucking decentralized, like, monster. You guys have to realize that my quorum is fucking energized, okay? Like, I still believe government has the right to do anything. But I recognize the understand, I recognize the fact that there are things that I can't, that I can't do on my own and I have to institute some other group to get it done. And if I'm being aggressed, then I have to organize an army. Okay? And if the army is far faster than mine, then I have to play that game. This is not something I want to do.

Starting point is 01:17:21 This is something I have to do. So I have my principles, but those principles like everything else, don't survive contact with the enemy. Okay? They just don't. But you should hold them dear. and you should try and live your life as best as you can to them, but you cannot necessarily implement that at this moment in time.

Starting point is 01:17:43 And if anybody wants to play the well actually game, I don't give a fuck. Call me whatever you want. Call me a fascist and I'll make a flag with a red, white, and blue fucking swastika. What a wake of a shit? Seriously. So if I were in a, but the waving the magic wand is hard. The first thing you have to do is realize that you have to make a fundamental

Starting point is 01:18:04 choice. And what I would argue at this point is I want to see, I don't want to see a fundamentally inflationary system built on debt and slavery. And by slavery, I mean feudalism. By feudalism, I mean property taxes. Let's start at the beginning. Let's get rid of property taxes. Property taxes is the original sin doctrine of government. And there's no baptism. You will pay. You will pay. You will pay you always pay your tithe to the king right so that's not a metaphor by the way if you don't think that part of your property taxes doesn't go to fund that motherfucking king fucking sausage fingers you're terminally naive now we have to start there people have to be secure in their home their homestead as their domain we can start to reassert property

Starting point is 01:19:04 in a little title. I believe in Bitcoin or some version of Bitcoin, something like Bitcoin-esque. I refuse to be a Bitcoin maxi because I don't believe technology ends. That's simple, right? And that's the only reason. But I love the basic idea of Bitcoin. I read the white paper 2010. I went, this is brilliant.

Starting point is 01:19:25 Let's do this. It'll be five minutes. I read the white paper. I'm like, yeah, that work. Like, it wasn't hard. I'm like, but. So we need pristine collateral to undergird the system. We need to look at extras pyramid of the inverted pyramid of the monetary asset, right?

Starting point is 01:19:47 We're gold at the bottom or hard, pristine collateral at the bottom. And I would put gold, Bitcoin, possibly even silver, if necessary, but I don't think silver is ever going to be a monetary asset again. Whatever else you can come up with is a monetary asset. Pristine collateral that has zero counterparty risk. You own it. Your keys, your coins. Right?

Starting point is 01:20:05 you're, you know, I got coins in my friggin, I got coins buried in the backyard and I got dogs in front of it. No counterparty risk. You got to get through Uber. Goober's a big boy. He's 90 pounds. He doesn't have half his front teeth because he keeps like killing raccoons. Okay. He's good at it.

Starting point is 01:20:23 He killed one last week. Big motherfucker too. And then we don't have big raccoons down here. They're all small. So, you know, but venture into Goober's yard. make a poor decision, pay the ultimate price. Fuck around and find out if you're a coon. Now, so we need pristine collateral, right?

Starting point is 01:20:45 And we need that pristine collateral to balance the balance sheets of the existing price structure of the world as it exists now. Because a massive deflation is far more playing, is far more destructive of the social order and playing directly into the hands of the people who are trying to collapse our society and steal all the wealth because they've pocketed all the they've pocketed all of the money for the last hundred years they're sitting on piles of gold and real estate and assets and cash flow and this and that and everything else and they would love nothing more than a beautiful 90% deflationary environment oh the Libertarians are all screen. Yay! Our gold is worth, our gold purchasing power went up. Bitcoin is going, yay! Well, you know, we have number effectively purchasing power went up for us.

Starting point is 01:21:42 And then you'll find yourself without a home. Sorry, I did, you said deflationary environment? There would be a deflationary environment where you would watch PD on the, on the, on the, the sugar PDE drop from 40 to 4. Meaning the Dow would go from 46,000 to 4,600. Why wouldn't the price of gold, and silver drop as well. Because that's your money. So it's cheaper for you to buy it in Bitcoin or gold. What will happen?

Starting point is 01:22:07 Yeah, they will drop as well. They're not going to drop proportionally as well. They're going to drop. There's a reason for that because stocks are higher up the extras pyramid. They exist. Their valuation is a multiple of stuff at the bottom of extras pyramid.

Starting point is 01:22:23 So in pristine collateral, they own all the pristine collateral, folks. Like you're, you know, your half pound of gold, you've got stashed in the in the in the toilet tank or whatever in a zip lock bag got news for you ain't shit they're sitting on they're sitting on you know balls of multiple 400 ounce bars of the shit they can deploy it and they can come in and they can buy up everything and that's what they did after what they did in viamar germany it's what they did after the depression here in the united states like it's what they do the money

Starting point is 01:22:54 flows in then it flows out again like locust and they leave the friggin and then they buy everything up That's what they did with Bannie and Freddie. They forced Bannie Fannie and Freddie into a bailout. They dropped the price from $80 to $80 and I picked all of fucking shares. Stole them all. So you don't want a deflationary environment. What you want ultimately, excuse me, what you want ultimately is a stagflationary environment.

Starting point is 01:23:25 Basically, you want the money supply for all intents and purposes at the M3LB. You don't have to just sit in a range band. except the inflation that's already come. Allow the value of the pristine collateral to rise to offset the cost, to lower the multiples of the balance sheets of the banks, and then allow and go for real positive growth relative to interest rates and let that express itself over time, get wage growth up, and move forward. And look, it's not going to be easy.

Starting point is 01:23:58 Human beings are between one and two percent real wealth, positive. on a yearly basis. In terms of real wealth, we compound wealth between one and two percent, probably about two percent. Now, maybe we're up to three percent because of technology, but around two percent, you know, 20 years ago. And, you know, Gary North used to ask this question all the time. It used to be one percent.

Starting point is 01:24:22 Sometime around the mid-19th century, it compounded to about two percent. And we go, look at the world we built. He always asked the question, why did this happen? I don't have an answer for it. Come up with a great answer. or write a treatise on it, let's argue about it. And you used to write this up all the time. And I've thought about this a lot over the course of my adult life.

Starting point is 01:24:42 And maybe with the advent of some of the things that we've lived through in the last, you know, some of the technology that we've implemented, maybe we're growing it, we can grow as much as two and a half percent now, right? Or maybe because we're reaching the end of really the true end from a physical perspective of Moore's law, that any productivity gains that we're going to get from faster computing are gone. And we're hitting the, we're hitting the frigging limit. We've, we've reached the limit of, you know, thermal efficiency of the internal combustion engine, of solar panels, of this, of that.

Starting point is 01:25:18 We're reaching these physical limits. And as a physicist and a chemist, I understand the very real possibility that we're going to hit that end and that this is as far as we go in terms of the efficiency of our capital base. now we have to make our humans more efficient. Now we have to get more esoteric in our use in material science and crystal and crystallography and all the all that stuff as opposed to just raw like, you know, so there's many, those are supposed to like raw metallurgy. Now we really have to get serious about about what we're, how we're going to, you know,

Starting point is 01:25:53 build new materials for the future in order to unlock new potentials. So can we just reduce friction and trade first? Yeah, can we just do that, right? But my point is, is, but no, but here's the problem. Who do you think put the friction in trade in place? It's not Trump's tariffs. Oh, I just mean trade in general, like trading down in on Main Street, not international trade. What I'm saying is, like a global trade.

Starting point is 01:26:16 Like, the problem here is that we, what the high table does is they look at you and me and they go, well, he's got like an hour's worth of free time in his life. That's too much. We need to take that away from him. That's our time. own that time. How can we take that away from it? The only scarce natural resources, this is where libertarians are the only scarce natural resources time. If they can steal our time from us by making us sit around and talk about how they're stealing our time from us, got news for you, dude, this podcast is worthless. Unless, unless, unless it communicates

Starting point is 01:26:52 to 50,000 people or 100,000 people, or however many people is going to be, that they go, oh, holy shit, Tom's right. I need to stop listening to so many goddamn podcasts. I need to go out and build something with my free time. Or I need to fix a problem in my community that will get back. My entire community will get back a minute a day or two minutes a day. Imagine how. And then Davos has a scheme to figure out how they take one of those minutes back. We're at the point now where they've stolen so many minutes from us.

Starting point is 01:27:21 The return on investment for stealing the next minute, I just thought about this. Stealing the next minute is going to be more than it's going to cost them than the return on investment of getting that of what they get from that minute. It's not going to cost them three minutes of time to get one minutes worth of. So eventually their whole system collapses anyway. That's the, that's really the centralization versus decentralization argument in a nutshell. Okay. So now, raise the value of the pristine collateral, allow that to happen. You've already had basically the wage inflation, most of the wage inflation that you would expect. We've got to fix the middle class, we've got to fix the middle income problem for millennials who are way behind the fucking

Starting point is 01:27:55 curve. And I, that's a really big problem. And it's bigger than my brain. I'm, happy to be part of the conversation of how to get there. I had multiple conversations with people have had to get it done. I'm not convinced of any of them. This is what I do when I sit and chat with my friends. And we do the cigar thing. We chat. I was doing this with a friend of mine on Friday after doing a three and a half hour podcast

Starting point is 01:28:15 with the cyber, the cypherpunk podcast with those guys, a Rogan S three and a half hours with those guys. It was insane. Fun as hell about. And so there's those things like, So raise the value of the pristine collateral. Recapitalize the middle class by getting access to the lower cost of capital and then just basically grow your way out of it. By getting rid of the impediments, as Gary said, the friction to trade.

Starting point is 01:28:46 We have to get rid of all the ridiculous regulations. We've got to get rid of and fire all of the HR departments and the DEI hires and the managerial state. They all need to go away. That trillion dollars we're going to save in government spending. is $3 trillion worth of GDP. Because all those people do is waste your fucking time. And keep you from being able to go out and be brilliant. Even if all it does is de-stress you to the point

Starting point is 01:29:14 where you can actually watch a television show and not fall asleep out of exhaustion at 9.30 at night. Or self-medicate with six beers or whatever the fuck it is that you do to get through your day. I kill pixels and smoke cigars. Like, that's what I did and pet my dog. I love my dog. Should I be killing pixels or should I be writing music with my free time? I kill a lot of pixels and I don't write a lot of music.

Starting point is 01:29:43 Right. So that's the thing that's out there. This is like I tried the basic premise I tell my daughter every day. I'm like, you want to be creative. You want to work for yourself or you want to have a thing for yourself. Even if you decide to start a family young, which I don't think she will, but even if she does, starts a family young. you know, and to go do the work now while you have the time on your days off to take those two best hours of the day, which are between the hours of two, two and four after you get up in the morning.

Starting point is 01:30:12 So two hours after you get up, four hours after you get up, those are your two most productive hours of the day. And that's where you're at your peak efficiency. That's when you should be doing it. And you should devote that four hours a week to whatever it is that you do, you want to do, right? Game design, you know, writing, drawing, whatever it is. I don't get a shit. Pick, pick a thing. gardening, whatever it is, be brilliant at for those two hours a day, four hours, six hours a week.

Starting point is 01:30:38 You'll have built skills that even if you don't get back to them for 20 years, you'll be able to leverage after your kids are around. And as a woman, that's your argument with the guys. No, you've got to get out there every freaking day. And from the age of 15, 16 on and do that and build the skills now so that you can get out out into the workforce and be incredibly efficient. And we have to get these toll booth operators out of our fucking way. And that's all the high table is,

Starting point is 01:31:06 the endless series of toll booth operators saying, we have the right to slow you down. Fuck you. Blow through the toll booth. Give them the fingers you go by. And, you know, if they pull out a gun, shoot them first. Done.

Starting point is 01:31:20 Move on. And that has to be the libertarian spirit. That's where libertarians have gone wrong. They do not understand that it's okay to shoot fucking back. or preemptively shoot, metaphorically speaking, the people who are trying to aggress you. They don't get the stand there and go,

Starting point is 01:31:42 I'm not touching you, I'm not touching you, I'm not touching you, I'm not touching you, and call that aggression. No, you pop that motherfucker in the mouth and you walk the fuck away. And you don't feel bad about it. Oh my God, did I violate his human rights? Yes, you did.

Starting point is 01:31:57 But he violated yours first. He invaded your space. He wasted your freaking time. These antifa little fuckers who were running around or hanging out in the middle the streets, using the law that cars have to, that car drivers have to defer to pedestrians on the road,

Starting point is 01:32:12 they're using the law against you. It's a limit. It has to go away. They have no right to sit in the goddamn public street and stop traffic. The reason that we have to defer as car drivers to pedestrians is that a clear cause of right and wrong in case somebody gets hit. That's it. And then they use that to stop the flow of traffic to protest oil?

Starting point is 01:32:42 No, grab them out of the freaking street, beat the month, break the orbital socket, move on. I'm serious. This has to. We have, this is what's this. That's an anti-civilizational response in their, they started it. It's an anti-civilizational response. They don't want people living their life doing what they paid, they paid for the road. They paid for the car.

Starting point is 01:33:05 Everybody paid for the whole thing. The road is there. It's a public right-of-wave on purpose for a reason. They don't get to just clog it up because they're, you know, they're pissed off about Palestine. No. Stand on the side of the streets. Wave your signs. Do whatever you want. Persuade them.

Starting point is 01:33:24 That's not persuasion. Fuck off. I'm over this shit. And I can make libertarian arguments, very good ones, I might add, for all of this, for all of them. Why these people just need to be beaten. Like, like, what do you mean? Like, I sound crazy, I sound crazy, man, but it's the truth. Like, we're sitting here going, why are we allowing orcs to lay down in the streets with orange vests on and stopping the engine of the society?

Starting point is 01:34:01 Like, the guy you're stopping, maybe the guy that delivers bread to the frigging deli that ensures that the guy who, you know, is going to go out and fix the frigging power line in the afternoon that went out. last night. And that guy can't get to, can't get the work or whatever it is. I mean, just do the math. We have no idea. So it's absolutely unconscionable behavior. It's anti-civilizational and therefore should not be tolerated, period. And if you can't wrap your head around that, I would argue you're not even a libertarian. Because the whole point of libertarianism is to re-establish civilization through the respect accorded other people of their civil rights and their personal rights. Well, I have a right to use the road. You don't have a right to stop me from using the road because you're angry about some other

Starting point is 01:34:53 goddamn thing that somebody else is doing. You're angry at ExxonMobil. Go deal with ExxonMobil. Don't, don't aggress me for being angry at ExxonMobil. Fuck off. Get out of my way. We're going to turn the car around and I'm going to blast my exhaust. in your face until you leave

Starting point is 01:35:11 like that great video of the BMW guy in Italy. He says, he turned the thing around and then backed up. It was hilarious. Me, I just would have gotten out of the car. This was a dragmower. And if he tried to get back in the middle of the road, then I'd beat the fuck out of it. I'm no kidding. I just, that's, that's what would have happened. And they've all been trained to not

Starting point is 01:35:31 respond and be passive because they're playing games with the law. The law is only, and this is where libertarians are correct. Law is only a limit to how bad people are allowed to act without crossing that line. Everybody looks at it, you know, we all have oppositional defiance disorder that we see laws as the limits on our behavior, 55-mall-an-hour speed limit, for example, or whatever it is. But it's the other way around, folks. It's a limit to how bad you're allowed to act, okay? From pollution perspective, I used to deal with this shit all the time when I was a bench chemist.

Starting point is 01:36:09 Think of it this way. I don't want to see any lead in my drinking water. But. You sound like kind of a pussy, Tom. I'm just saying. Just saying. But the limit, the legal limit is based on, you know, technology and everything else. The legal limit is, I don't know, I think it's still one part per billion, one microgram per liter.

Starting point is 01:36:30 Right. So if it's less than one microgram per liter, it goes out. It's safe. You can drink it. If it's 0.99, it's legal. If it's 1.01, it's silly. Functional difference? None.

Starting point is 01:36:45 That means they can pollute up to 0.99 part per billion, and they can dump that amount of lead into the environment. It's a limit. It's just like the, it's just like the, the Trantifa kids laying in a little fucking road. The law was put in place to defer to pedestrians in order to, in order to establish a clear case. a fault for insurance, legal stuff, all of it.

Starting point is 01:37:13 It was not meant to allow them to sit in the middle of the fucking road. That's not the spirit of the law. The spirit of the law was like, does this have a way of dealing with what happens when a pedestrian gets hit? Or pedestrians in the middle of the road, the guy's supposed to stop while the pedestrian clears the road. They're not supposed to have their fucking lunch in the middle of the road. No, of course.

Starting point is 01:37:36 And I'm with you on the same. stopping traffic. I'm sorry, Nathan. I know you probably have like a bazillion more questions. I do want to ask you, call them anti-civilization. I'm with you on the stopping traffic thing. I think that's garbage. I'm personally very pro-Palestine. Anybody who follows my social media knows that, but the people who do that for Palestine reasons, I'm like, even if you generally want that, you're hurting your own cause. You're just going to turn people against you, just by stopping them from getting from A to B. It seems very silly to me. Do you think this anti-civilization behaviors you described?

Starting point is 01:38:06 And I do think there's something to that, the idea of I just want to oppose you from living your life and doing what you need to do just from an anti-civilization perspective. Do you think there's more of that today? And what do you think is the cause? Because I do think there's an impulse that people want to feel like they have a purpose. And when people don't feel like they have a purpose anymore, they do things that. They invent things that have a purpose for. Yes. Another way of putting that, by the way, is everybody who denies it, you know,

Starting point is 01:38:36 Even atheists have a religion. Mm-hmm. Okay, everybody has a religion. If you don't have one today, you're going to make one up tomorrow, and then you're going to follow that religion for those people, and that's the purpose. It's the same way of saying the same thing. So if you reject Catholicism, because you grew up in the Roman Catholic Church and you're like, and then you found out that priest did a little kids, you're like, yeah, I can't be a Catholic anymore.

Starting point is 01:38:54 Fine. Then you're going to become a Jedi or you're going to become a, you know, something else, right? Or, you know, in this case, you're going to hate oil or you're going to become a market or whatever. Yeah. And for a lot of people, libertarianism is a substitute for religion. Sure. Of course. And I'm okay with that.

Starting point is 01:39:07 And don't get me wrong. So I know when I go on that, because I used to be for me. Like at one point, I was that guy, right? But I'm not that guy anymore because it's very obvious that as we approach this period of history where the,

Starting point is 01:39:20 where the mask is off and now we're fighting for our lives, we got to, you know, it's like you have the principles, but they don't survive contact with the enemy. Now I got to start shooting people, metaphorically speaking in Minecraft, obviously.

Starting point is 01:39:31 My point being is that, look, I get past the YouTube sense. somehow. I don't know if that previous rant is even going to make it into the final. Yeah, yeah. I think that horse left the barn already, Tom. I know. But that being said, right? That being said, my point being is that, yeah, like, is it more or less it's a reflection of the anxiety and the tenuousness of the time? Everybody feels like they're under existential threat because they don't have agency in their own society. Like, they can feel their purchasing power

Starting point is 01:40:03 slipping away from them. They can feel their their their their their their their their their life slipping away from them. And so when you see that and in general, women are even more susceptible to this than men are. Men are just going to work harder. But women are not designed for this. And then they're being gaslit into thinking into taking control of the situation because the men are clearly not up to the task. So then they start trying to fix problems that they were never built to fix. And that's when you wind up with the the crazy Karens that we, we, we, we, we, we, we, we, We literally watch on TikTok or I don't watch my TikTok. I watch them on Twitter every day.

Starting point is 01:40:38 And you see them and you're like, oh, this is just a woman who's completely out of control because she doesn't have a man that she trusts and she doesn't have a society that she trusts. And so she's just running around, you know, screaming at people like, uh, honey, you just need to like be slapped and sit down. But they won't slap. They won't, they won't even sit down after they've been slapped because they're just so frigging, they're so far gone. But you understand why they're so far gone.

Starting point is 01:40:59 You have to realize you understand why they're so far gone. Okay. And once you understand that, then you, like, okay, so then what are we going to do to reestablish civil society? And that's a much bigger question. That's a harder question to ask. And I'm not answering. I don't know that I have the answers to that other than how do we recapitalize the middle class?

Starting point is 01:41:20 How do we identify these systems that are being put into place and remove them that have created that anxiety, that lack of, that, that feeling of chaos, that being in fight or flight all the damn time? We have to get out of that system. We have to get out of that endocrine system and back to a place of being settled. At times during this podcast, it might even look like I've been in fighter flight. I'm actually really not. This is just a character I play on TV.

Starting point is 01:41:45 I'm very quite centered about how this stuff plays itself out. It's playing out. I'm quite comfortable with how it's playing itself out. When I get, you know, when I get ratcheted up, it's because I'm trying to get everybody else to understand just how dire the fucking situation. is, but at the same time, understand that there are people out there trying to fix what's wrong and they have done the root cause analysis. They may not win every battle, but there at least we can see by their actions what they're trying to accomplish in order to, in order to, you know, strike the root and fix the fundamental problems. Because you can fix some of the fundamental

Starting point is 01:42:30 problems, other things will then start fixing themselves, right? And so it's not a, you know, we asked earlier, you know, what three things would you do if I could wave my magic wand? Well, if you could wave my magic wand, like, I would just, I check out, guys. I wouldn't like try and say, like, I'm, I, because it's not possible for me to like, wave my magic wand to come up with the answers because I don't have all the answers. Fair. I mean, why would I even think, why would I even be hubristic enough to believe that I even could possibly have those answers? It's a very fair answer. That's the bigger, that's the, that's the level up. The level up is that the answers are nothing I'm going to tell you is the answer to the

Starting point is 01:43:08 problem. That answer isn't here. I know what it is for me. And I know, and, you know, I presume I could know what may be for you after chatting with you about it, we having a conversation about it. And you tell me what it is. And I can only find that out when, you know, when you and I have that talk. But beyond that point, like, no, there's, there are systems that are in place that are creating

Starting point is 01:43:28 anxiety that are creating anti-civilational behavior. So let's get rid of those systems. What are they? And I've identified a lot of them. Now, I've tried to organize them in hierarchies for you to understand at what level you're interacting with it so that you can then not be confused as to what you're seeing every day in the zeitgeist, right? And you can identify it as, oh, that's just chum trying to get me to go crazy.

Starting point is 01:43:53 I'm going to ignore that now. Like I watch I watch some of the most ridiculous shit go through my Twitter feed on a daily basis and I'm like I don't even react to it anymore Like oh I know what that is I know what that is I know what that is Oh there's one and then like one at every 20 I'm like I can say something really snarky about this Bing goes up on the goes up on the feed right that's the that's the that's the Twitter thing but you find the gems to really pull out and go that's important that's a signpost that's important all the stuff I don't, in my mind, all the stuff that I'm not commenting on, not that important. Right? And I'm not saying that, well, at least not that important to me.

Starting point is 01:44:34 Sure. And if you value my opinion on these issues, then maybe, just maybe you'll understand why I don't think they're up very much value. And then you can adjust your behavior accordingly and get back a couple of those minutes every day. And that's how you ratchet down the crazy. It's how you racks it down the enderkin response to all these things. It's how you get to a point where you go, you know what? Tomorrow, sun's going to rise. Water's still wet.

Starting point is 01:45:03 Women still want more sex when they're fertile. And, you know, dogs are still the greatest gift that the universe ever gave humanity. Like those four things, when you understand those four things, like, you know, is the world, is the world really that complicated? Not really. Nathan, I know you have so many questions, Nathan. I don't know what we're doing on time. I'm leaving it to you, buddy. So we're in an hour of 41,

Starting point is 01:45:25 so we should probably wrap it up my next 10, 15 minutes. Shit, okay, I'm going to try and pull through as much as I can in those 10 to 15 minutes. I think I've already covered, I think I already, like, I've already contracted foot and mouth disease

Starting point is 01:45:36 like 14 or 15 times so far today. So, you know, go back. I will say just in some sense, the only, like, the antithesis to the anti-civilizational systems that we see, the only one that I see that is actually pro-civilization would be pro-natalism

Starting point is 01:45:49 and pro-family formation. You get two millennials in one household. They can buy, they can build capital. That woman who's standing in the streets usually has some sort of instinct to protect something and it's being misdirected, plus it's losing her sense of meaning,

Starting point is 01:46:00 particularly if she's not getting attention anymore. So that would be my big one that if I was going to try and push for what could actually help the situation, family formation, pro natalism. Plus it makes men work hell fucking harder when you've got something

Starting point is 01:46:10 that you've got to provide and build for. It might make you build your own damn house with a hammer and nails once you've got that coming on the way. That's exactly why I built my house. My wife ambushed me one day. You've met my wife, so you know. she ambushed me one day right after work I'm on the toilet and she comes standing in the doorway to the bathroom and she says okay now we don't need to make a decision about this now but it's

Starting point is 01:46:32 time for us to have a kid and we're not having it in this house and I'm like don't be alarmed but she's like trap me I those and there and my bathroom did not have a second door like you know what I mean are we doing this mid dump like that was all I could do 10 feet away like I was it like where was I got I go and so when I was I got and so when I I started the process of like, oh, okay, I need to become a dad and we need to build another house. And I can't, so then we have to like, okay, what are our priorities? What are this? What are this?

Starting point is 01:47:02 What are my doing? I'm like, at the end of the day, I looked at it. I said, okay, well, these are the things that we want to do, then the only way we're going to be able to afford that is we're going to be able to buy X amount of property for this amount of money. And then the rest of it on my salary after you, after, you know, you leave work and to raise the child, because we're going to do this on one family. We're going to do this on one, one salary.

Starting point is 01:47:20 We're going to do it right. Well, what does that mean? It means that, you know, this is how much money we can spend. And so we need to get the most house for the least amount of money. I had a friend that I worked with over at UF that had done the same thing I did. And he was my guru and we designed a house and I went to an architect and then I did the build and then, you know, seven months later we moved in. And I had about $25,000 equity in my $25,000, $30,000 with the equity in my house in Gainesville

Starting point is 01:47:48 that was able to draw on to help finance the build. and I didn't even do it with a construction loan because they wanted too much money. I had, but I had such a good credit that I just financed the whole thing on Visa at zero percent. Wow. That's amazing.

Starting point is 01:48:00 And then I converted it all during the No Doc Ninja moment in 2006 into a fixed rate, 20 year note. That's amazing. Yeah. And I borrowed 80 grand. Okay. I want to last week in our short, a little bit of time left,

Starting point is 01:48:20 I do want to touch on, at least touch on, gold where we're going and why we're at all time highs and kind of, the one thing I was surprised is how rapidly it seems to be moving. I would have figured that would have been suppressed by central banks, but maybe there's something else going on in the background. So gold, old time high. There's a reason you're wrong about that.

Starting point is 01:48:33 It's a very simple one. What's that? It's very simple. By the way, 3981 and change on the futures market right now, cash price is 3956. Holyish. Yeah, the reason for this is the reason you're wrong is what I told you the first time we were on the show, which is that there was going to come in time when you were going to watch governments, especially the American government, need to put, to not fight the price, the rising price of gold in order to expand the collateral base of the country.

Starting point is 01:49:03 And the same thing is I said that, you know, what will bake your noodle was that they're going to put Bitcoin on the balance sheet, on the Fed's balance sheet. But they're not doing that they're doing is they're, of course, putting on the Treasury's balance sheet. And then using that as pristine collateral, they should stable coins against Treasury, against Treasury instruments and all the rest of it. and then use Bitcoin and what they were doing, still continue to use Bitcoin as collateral, as pristine collateral in the repo markets, which clearly been going on for at least three or four years now. Yeah.

Starting point is 01:49:30 Yeah, yeah. That's been going on for all the long time. Okay, beautiful. So next for gold, next for Bitcoin. And then the other one, I'll just quickly touch on. So where do I think they're going? Bitcoin's breaking out above 125. Where is this morning?

Starting point is 01:49:42 125, 383. And change, Bitcoin's on its way to 175 to 200. gold is moving hard. One of the thing is interesting about gold, the way it's moving now, was just talking to my patrons about this yesterday, was that since Trump came back from England, and he offered terms of surrender to the king, and the king said no, which is my fan fiction, folks,

Starting point is 01:50:10 believe it or not, but it goes up $300 since then. And it's the LBMA, not the Comax. that's been fighting a higher gold price. The Comax is being depreciated in the United States. Speculation of gold, speculation on gold as an antipode to the dollar, so the guys who need to hedge their dollar risk with gold or want to hedge their dollar risk with gold are going to be using GLD and SLD, which are going to become purely speculative things.

Starting point is 01:50:36 And only very trusted redemptions are going to have to go through very trusted intermediaries, meaning J.P. Morgan or HSBC, and the U.S. government will sign off on that. So there will not be tonnage coming out of GLD or SLD unless it's been signed off on by the government. And, you know, J.P. Morgan is, that's why J.P. Morgan is a sole custodian of GLD in the United States. And HSBC is the one for the rest of the world as GLD in Hong Kong. Now, I think that structure is right. And this is something that Vince Launcheon and I talked about three years ago on a podcast that we did on my podcast. I don't remember the episode number, but the title is Vince Launcey and gold is the new black.

Starting point is 01:51:14 that episode, everybody, every Bitcoiner should listen to that episode because you'll understand that we were there three years ago, realized there two and a half or so three years ago, seeing this market for where we're headed. That means that gold is now an asset to help recapitalize the country and the central bank, in this case, the Fed. And yes, it's going to help other people as well, so what? and saying they were Bitcoin. Now, who is, this is where it's interesting. So the ECB, nominally in charge of all of the sovereign gold, nominally, meaning it's been pledged,

Starting point is 01:51:55 but they don't actually have custodian. They don't have actually custodian of it. Like, Italy's gold is still in Italy or in the Fed. Like, it's not at the ECB in Brussels. I mean, maybe some of it is. So we've got to ask for a result of the question, you know, possession is nine-tenth of the law, right? So we're in control of our goal. I think that's pretty obvious. If anybody doesn't think that we're in control of our gold at this point, you should just stop with the fan fiction. It's there because if it wasn't there,

Starting point is 01:52:25 there would have been a war. There would have been a war over this by now. We're draining the LBMA. We're draining city of London of its ability to set the control, set the prices on the most important assets in the world, which used to be the treasury market through LIBOR, now gold through the LBMA, Comax, GLD, round robin, wash system,

Starting point is 01:52:45 That's been taken out. The LBMA has been taken out for all intents and purposes. And the Comax is being depreciated. It's all being collapsed in the GLD. So now physical gold is not moving. It's just being stored. SLV is going to go through the same process. The last thing that city of London still controls is oil prices through the brink crude contract,

Starting point is 01:53:07 which is a purely financialized contract. Nobody delivers against a Brent crude contract, a barrel of oil against Brent crude contract. completely financialized. So that's the last thing. They don't control Bitcoin. They don't control gold. They don't control silver. They don't control the treasury market anymore.

Starting point is 01:53:25 They don't control the U.S. repo market. So, so to be Canadian, very Canadian about it. So, what's left? That's a good sign. This has all been 10 years in the making. So, yeah. I, I, I, this is what's happening.

Starting point is 01:53:47 So gold here, I've been impressed. I mean, I thought we would already have like done a solid correction and had gone higher. I've, I've got PTSD like everybody, every other gold investor for the last 25 years. But the truth of the matter is is that gold could run the five grand before they decided to stop it. I mean, at some point, if I'm right in my fan fiction, this will be, how about this? If I'm writing my fan fiction that Trump offered terms of surrender and the king said no, then the way you, get the king to surrender as you move the price of gold to $5,000 an ounce, or six or seven until they finally cry uncle.

Starting point is 01:54:23 Or until the LBMA, until you get to a point where the LBMA's collapse, then collapses Parliament, the Bank of England, and everybody else. Gold, silver, they're all, and silver's even more dangerous for them. Okay? And who's on board with helping the United States, like, they were there before us, the Russians and the Chinese. One of the things I said, I've been saying, I've been thinking about recently. And again, I said this the other day for my patients, but I'll say it again here, is that, you know, trying to analyze this gold and silver bull market by the same ways that we did during the run up to 2011's high, doesn't work. Why? Well, the Shifi oil contract didn't exist then. The SG, the SGE gold, physical gold contract in Shanghai didn't exist. The Russians weren't buying gold, like the, you know, 40 tons a month. Like, you know, all the central banks weren't buying gold. The Chinese weren't buying gold. No one was doing this. There wasn't a globalized gold market. In 2011, we didn't have a full infrastructure for vaulting and gold futures in Singapore. Dubai, Shanghai, Hong Kong, all these,

Starting point is 01:55:38 them places. Gold is now a global market. Back then, it was mostly London, Zurich, and Chicago, or New York, and that was it. There's 95% of the world's gold trade. Today, it's not. And so, therefore, they don't have the same level of control that they did in the past. And silver is the same way. And so where can they go? Wherever they need to go to satisfy certain geopolitical imperatives. It's a front in the war is what it is. And right now,

Starting point is 01:56:17 the United States and China and Russia are running a blitzkrieg on London. That's it. Yeah, Shanghai inventories I saw it was like all-time highs. It just spiked up. It looked like. I mean, it's crazy.

Starting point is 01:56:31 And there's like, you know, like, again, Vince Launchey yesterday. I think it was over the weekend. He's like, dude, it's 7.2% to least silver for 30 days. In order to short it, there's no silver. At 7% are you out of your fucking mind? You're going to borrow 7% to short silver?

Starting point is 01:56:47 Why do you think silver is at 48, 60 and 65 an ounce this morning? Like, silver can go to 75 bucks here. Okay? I'm not saying that it's going to. I'm saying it could. If gold goes to fucking 43 or 45, silver, you know, do a 65 to 1 goal to silver ratio because you'll watch silver overshoot and drop from 80 down to about 65. And then there will be a big geopolitical event, and the gold to silver ratio will turn.

Starting point is 01:57:18 And gold will start to outperform silver again. Okay. And it's always on a big geopolitical turn. I've got a 25-year chart of the monthly closing price of the gold to silver ratio. And I can time every fucking peak in valley in the gold to silver ratio with a major political, major geopolitical event from the war in Iraq to Biden's inauguration to Brexit, to the S&P 500, to the S&P downgraded the United States, to the 10%. The tariffs were the big turn in April. Gold to silver ratio hit like 101.

Starting point is 01:57:47 Trump implements tariffs. Gold starts underperforming silver. Why? Because now everybody needs to get a hold of silver because capital's not flowing across borders like it did before. They can't hedge it the way they did before. They can't source it the way they did before. Boom. Supply starts to turn around.

Starting point is 01:58:04 That and they already ran a three-month operation to drain the LBM of all their gold. And at that point, hey, now it's start raiding the silver vaults. So that's the way I, you know, one of the things I tend to do on a regular basis is I will pick a relationship, a chart, some bond spread or, you know, gold, gold, the silver ratio. I'll just like start, I'll just like pull up a 10 year, 15 year, construct a 20 year chart and then look at it. And I go, well, that's time to the day with this event. And that's time today with this event. And then you just start doing it all the way. It's all right there.

Starting point is 01:58:43 started doing that with the savings rate in the United States during the QE years. And you could tell every time the Fed, you could always tell when the Fed was about to do, was about to re-implementing QE. It was when the savings rate popped above six, popped above four percent. Really? Yeah. Every time. Or whatever it was, 6 percent, 4 percent, whatever was. There's a certain, every time it started to raise above a certain level, boom.

Starting point is 01:59:08 Push the savings rate back down. Why? Because they're all Keynesians. Yeah. Get the last thing. Get that money in there. of thrift and, you know, and the concept of excess savings and everything else. Yeah.

Starting point is 01:59:19 So, all right. Dude's the three hours. I'm about done. That sounds good. Tom, tell everybody where they can find you. TFL 1728 on Twitter. The podcast got posted over to my blog at Tom Longo. That I mean, maybe one of these days.

Starting point is 01:59:32 I'll actually write a new blog post one of these days. But God, why? These are far more fun. And a Patreon slash gold goes and guns, where you can get the newsletter and, you know, more of this. you know but without the face made for radio so you know we'll go with that hey you yes you watching the bitcoin price movements and the latest exciting news it's awesome to stay informed but the real power of bitcoin comes from taking control don't just watch take action head over to btc sessions dot ca

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