TFTC: A Bitcoin Podcast - #519: Quoz & The Dollar Endgame with Mel Mattison

Episode Date: July 2, 2024

Marty sits down with Mel Mattison to discuss his book Quoz and the late-stage fiat breakdown. Mel on Twitter: https://twitter.com/MelMattison1 Quoz: https://www.melmattison.com/quoz 0:00 - Intro 0:50 - Mel’s background 5:34 - Timing the late-fiat breakdown 10:13 - River & Unchained 11:29 - Central bank history 17:00 - Central banks are obsolete 23:55 - Gradually, Then Suddenly & Zaprite 25:33 - The Fed is scrambling, false yield curve 32:25 - Why bitcoin and metals will succeed 37:33 - Was this always the plan? 42:35 - Can we make this the last cycle? 46:38 - Supranational financial entities 56:11 - Luongo’s inter-cabal squabble 1:02:50 - Events between here and endgame 1:18:22 - Puppetmasters 1:26:33 - How to weather the storm 1:33:24 - Plugs Shoutout to our sponsors: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠River⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Zaprite⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Gradually, Then Suddenly⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TFTC Merch is Available: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Shop Now⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the TFTC Movement: Main ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Clips ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow Marty Bent: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠…

this rip of tftc was brought to you by river it's the best place to buy bitcoin go to river.com tftc and enjoy this episode you've had a dynamic where money's become freer than free If you talk about a Fed just gone nuts, all the central banks going nuts. So it's all acting like safe haven. I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor. I mean, that's part of the bull case for Bitcoin.

If you're not paying attention, you probably should be. Freaks, I'd like to introduce you to Mel Madison. author of the book quaz here to talk about the i don't know if it's a dollar end game the fiat end game but um something that has been talked about for quite some time which is the fact that the global financial system is likely systemically fragile and has a bunch of built-up leverage throughout and has a long history of corporate uh corporate government uh partnerships it's been this building frankenstein over the course of decades and mel you wrote a book essentially saying that you believe that we are nearing the end state of this system um so before we jump

into quaz and your your thesis why don't we learn a little bit about you what you were doing before you wrote the book and why you decided to ultimately write this book. Sure. And thanks for having me on. I appreciate it. My background is completely in financial services for the last 20 years. I've worked for some larger established asset managers like Russell Investments out of Seattle, as well as venture capital backed firms. One of them, United Capital, was sold to Goldman Sachs in 2019. Some other smaller fintech startups out of Amsterdam, Tel Aviv, Palo Alto, different places. And I've served as the CEO of three different FINRA SEC registered broker dealers. So a lot of my background really is just understanding

the financial plumbing of the way the international markets work. I have an MBA with a focus on Investment and Corporate Finance from Duke University. And during the course of my career, I've also been a bit of an amateur, you know, kind of financial historian buff and always open to what most people might call conspiracy theories, but which I believe a lot of times have grounding in truth. And just learn more about central banking, kind of shady, what I call deep economic state type organizations such as the IMF, the World Bank, the Bank for International Settlements in Basel, Switzerland, and kind of couple this financial history with the state of where we're at. And as you mentioned, it kind of goes back decades, but I would argue it actually goes back

centuries. It goes back to the founding of the Bank of England in 1694. You can look at the shenanigans that went on during our founding, things that Hamilton was involved with, a guy, Robert Morris, the first central bank of the United States. And so there's really a long history in our country and internationally of powerful financial interests, obviously acting according to their best interests and not to the people's. And I wanted to try to expose some of that in an entertaining way. And that's why I wrote Quaz. I'm a big Thriller fan.

I like kind of old school stuff, Tom Clancy, some of the newer stuff. And I thought it would be cool to, instead of having CIA operatives against KGB, you know, let's talk about corrupt central bankers. Quaz involves a quantum AI computer that's controlling the financial markets and an attempt by these corrupt bankers to put in a global central bank digital currency and collapse the markets. But at the same time, I put in little segments that are also a little bit educational, talking about everything from Roosevelt's confiscation of gold in 33 to history of central banking in the United States, sound money, crazy debt levels that we're at. all of the issues with the dollar and so on. So that's a little background on me and a little bit about Quaz. I think the last thing I'd add about Quaz, which is kind of interesting, is it's kind of a reference to Quantum Oz, but there's a bit of a homage there to

Frank Baum's book, The Wizard of Oz, which in itself was a monetary allegory where you had the yellow brick road and you had Ruby's silver shoes. In the book, they were silver shoes, not ruby slippers and it was really talking about gold and silver versus the the fraudulent green back the emerald city the wizard behind the curtain that's that's a total fake and um so that it's kind of an homage in that title as well to the the monetary message that the wizard of oz has yeah and it seems like as it stands today like i was mentioning before we hit record It's a pretty prescient day to be recording, considering it seems like Japan is losing, further losing control of their yield curve. I believe the yen was trading above 161.

The last I checked, at the same time, you have 10-year yields blowing up here in the United States. This is a week after we had a presidential debate in which it seems pretty obvious that the sitting president is not cognitively inclined, I guess is the polite way to say it. And again, going back to what I said earlier, I mean, this is I've been reading zero edge since I was in my early 20s. And this idea of a late stage fiat breakdown, a breakdown of the dollar has been surmised for for some time, obviously, most famously post 2008 with the bailouts and QE and everything that came after that. Many people said, all right, the dollar is doomed to fail. And yet here we are today, 2024, things aren't rosy, but everything seems to be somewhat put together. And so why do you think the timing as it stands today, July 1st, 2024, makes sense for the culmination of this built up complexity within the system to finally break down? Yeah, it's a great question. And it's a fair question. Because, I mean, I've been listening to people as well talking about the dollar is going to collapse and, you know, put all your money into gold now. And this is like 25 years ago. And, you know, I mean, people have been talking about it for a long time, because the long term trajectory is kind of heading to this place.

What I think a lot of people have gotten wrong is they've underestimated the amount of rabbits that central bankers, treasury cabinet level officials can pull out of their hat in order to extend things. I think they underestimated the lengths they would go, the duplicity that they would take it to. And then why would it happen now? I still think there are rabbits in the hat yet to be pulled. So I'm not forecasting like an imminent collapse in the next three months or something like that. I think we are in the endgame, though, and I have a generally specific timeframe of where I think stuff is really going to start to, you know, hit the fan, which is more around the 2027, 2028 timeframe. I think it coincides with some big changes that are coming with essentially the insolvency of the Social Security and Medicare trust funds. I think that you couple that with the exponential growth in interest expense, which we have never seen before. We can have details on that.

I'm kind of a nerdy guy. I pull the monthly Treasury statement every month that the Treasury Department puts out. And when you look at it, it's just it's just an astronomical hockey stick line. The amount of over 10 trillion dollars of debt that we've had to refinance in the last 12 months has taken our year over year expense costs up of 40 percent. So, you know, when you start seeing these crazy rises where now interest expense is more than Department of Defense, it's more than Medicare, it's going to be more than pretty much everything soon. then you realize that there is going to have to come that that reckoning. And as I mentioned, I think the Social Security Trust Fund is going to play a role in that. And so I think the stuff you're seeing around the world, whether it's with the yen, you can look at countries in Germany.

It's not just the United States problem. And that's the final kind of reason for why now, I guess, is that when we've seen these bubbles blow up in the past, they have been with kind of second derivative type instruments. They've been with mortgage-backed securities, or you had the dot-com boom, or you had the savings and loan in the 80s. Now the fundamental asset that is in the bubble territory that is going to blow up is the U.S. Treasury

and more broadly sovereign debt around the world. And when that fundamental base layer of the monetary system blows up, you know, the currency is next to follow. And so I think that's where we're at and we're at the end game. And, you know, you could flesh out any of that as well. But generally speaking, those are the main trends that I see culminating very soon. This episode was presented by River. River is the best, most secure place to buy Bitcoin in the United States. Go to river.com slash TFTC.

Set up an account today. You'll be able to DCA into Bitcoin without paying any fees. You'll be able to give people Bitcoin via river links. You'll be able to send and receive Bitcoin over the lightning network. And you'll be able to set limit orders. If you want to buy Bitcoin at a particular price below or above where it is now, you can set orders to buy Bitcoin when it hits that price. Go to river.com slash TFTC and set up your account today.

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concierge onboarding team today tell them that tftc sent you and use the promo code tftc at checkout unchained.com and i guess before we dive deeper into the end game it's probably important for the listeners especially to understand how we got here so i'm assuming uh central banks are at the center of all this. And so up to this point, how did these central banks distributed around the world get the system to this point? Yeah. Well, I think it's interesting because now we're in the pure fiat world, but of course, for most of modern history, that wasn't the case. And the central banks were really set up originally as a way to siphon the wealth, particularly the gold and silver of the people away from the people and get it to the sovereign so that the king

could do whatever he wanted as far as it usually involved wars. And that's basically the way the Bank of England got started in 1694. The King of England, William III, he had essentially levied so much tax on his people that he knew he couldn't raise taxes any higher than they were. It would be civil unrest and, you know, they'd be coming for him with the noose. And he also couldn't borrow because he had defaulted. He'd borrowed from wealthy people and couldn't pay them back. And so he needed money to go and fight the French. And when he went to his wealthy backers and said, loan me money, and they said, no, he said, well, I need this money. And the wealthy backers said, well, there is something we could do. And it involves you giving us the exclusive right

to print paper money, you mandating that that paper money be accepted. And we will set up a bank, the Bank of England, and we will take money in from the people, gold and silver. We'll issue paper notes. We'll funnel the gold and silver to you so you can pay the shipbuilders and the soldiers that are demanding, you know, hard money. And, you know, we'll loan it out to you at an interest rate. And, you know, you pay us back at an interest. So the bankers get to make money on the interest. The king gets his money for his wars. And the people, meanwhile, have their money essentially confiscated and get handed paper notes. And that whole trajectory of what a central bank is, it's a mechanism for the wealthy to take a cut of the siphoning of money from the people to

the sovereign, has been the role of the central bank. It's why the Federal Reserve is still to this day owned by companies like J.P. Morgan and Citigroup. When you dig into who owns, for example, the regional bank, like the Federal Reserve Bank of New York, you have to look at the Federal Reserve System. You can't look at the Open Market Committee in D.C. That's obviously government appointees, but where the rubber meets the road in our Federal Reserve System is with the 12 regional reserve banks. And those are private corporations owned by the, by the banking cartel. And so this, this whole central bank, you know, kind of Ponzi scheme is essentially like, just keep printing debt, you know, just take money, keep printing debt. And obviously we got to a

point in the seventies where trying to even keep up the charade that this was backed by gold and silver started to fall apart. And so I skipped over a lot of history. I skipped over, you know, Hamilton's role, for example, in the American Revolution, where he started us off down this path of, you know, borrowing from international financiers, just rolling over the U.S. debt. He basically, you know, said, oh, we're not going to pay back the debt. We're only going to make interest payments. There are all these attempts throughout our history in this country to try to fix that. Jefferson appointed as Secretary of the Treasury a guy named Albert Gallatin. And Jefferson said, like, he's the only man I know that can unwind this labyrinth that Hamilton has

created with American finances. And Gallatin started us down this path of reducing debt and so on. But, you know, things happened. The War of 1812 happened. Andrew Jackson came back in. He got rid of the Second Central Bank of the United States. He paid off the entire national debt, the only president to do so. And so that was in 1836, and we were back on a good path. And then the Civil War happened. And so a lot of these things have been punctuated by wars. But what we're seeing now is that it's no longer this crazy deficit spending during times of war. It's now become part and parcel of the way this country operates, where we're running $2 trillion dollar deficits just so that we can have some sort of a positive GDP. We would have negative

three, four percent GDP if we weren't running two trillion dollar deficits. And it's just getting harder and harder to create the growth, the velocity of money we're having to pile more and more in. And it's a law of diminishing returns where this whole thing is starting to get to the end of the thread where there's just not going to be any more of the sweater to pull. And all of a sudden everybody's going to realize, oh my gosh, there's only one way out of it. And it's money printing, it's inflation. And that's why I think, you know, ultimately we're going to see, you know, bond yields attempt to rise. I think they're going to pull out yield curve controls and different things like that. But eventually we're coming to this currency crisis and we're

getting closer, you know, every month. Yeah. I mean, I think some would argue we're even already in it and you look at inflation um you've seen tons of videos i'm sure online of people complaining either at the grocery store in their cars about how how hard it is to get by these days and obviously the government statistics and data that they're putting out on a month in a month out and quarterly basis are manipulated to make it seem like things are are much better than they are so if you were to actually look at real inflation and juxtapose that to gdp growth or not be surprised if it's actually negative GDP growth over the last couple of years, at least.

And then bringing this back to central banks, it's crazy that what started as an agreement between the king and these bankers has morphed into a system that everybody takes for granted. I mean, we live in a world where everybody just expects like money works because central banks exist. And these are the people who are supposed to actually manage money and monetary policy

and manipulate interest rates and expand and contract the money supply at any given point in time. This is the way money works. And over the course of centuries, it is insane that people have been lulled into this false sense of reality that this is the way money is supposed to work when it's completely corrupt at its core. Exactly. It is, and there's no reason for us to have a central bank anymore.

I mean, the only reason you needed some sort of a bank was because the government actually needed money because the government couldn't print money, you know? And once we went total fiat, the whole reason to have a central bank, it just evaporated. The only reason we have it is it's a way for the banks to make money

and continue their corrupt fractional reserve practices. If you think about it, why would we be issuing debt so that, and the bulk of it is bought by financial firms here in the country. it's a very small amount of our debt that's foreign held. It's around 20, 30% of the public debt, but that doesn't include the intergovernmental debt. When you include that in, you're getting down to basically 10, 15% of our debt is foreign held. We're essentially borrowing

from insurance companies, mutual funds, banks, financial institutions, and then we're paying them interest for something that we could print on our own. Inflation, as Milton Friedman said, is everywhere and always a monetary phenomenon. And inflation is caused by the money supply. Whether or not we're paying interest on the debt is not going to have anything to do with inflation. What's going to matter is how many dollars are circling around out there chasing a fixed amount of goods and services. You increase the dollars, keep the goods and services the same, you know you're going to get inflation and so if the government would uh you know put itself on a path where the amount of dollars needed to be created was not such that the markets would be

alarmed um there'd be no reason why we can't just issue you know notes it we can't just issue tender this idea of going through a bank a central bank which is a a quasi-private organization and in the united states when you come to the reserve banks a 100 private organization it's a relic of a world where sovereigns needed gold and silver and since they don't need that anymore it's only there to perpetuate the the corrupt banking cartels and provide profits for the likes of you know jp morgan and city group as i mentioned so there's a whole bunch of reasons around why this doesn't make any sense anymore and we need to reset some things. But it's gotten now to a point where the Federal Reserve, I believe, already recognizes all of this. People will talk about

things like fiscal dominance, where the Federal Reserve knows that they can't raise interest rates much higher. They know every time the 10-year starts getting close to 5%, you start having financial alarm bells go off throughout the system. And they realize that there's just not going to be any way for the debt issuance to be absorbed in such a way by the market as to not cause rates to just skyrocket. And so they're starting to put into place all the mechanism, the rabbits from the hat that I talked about that they're pulling out, so that they're going to be able to park this massive debt issuance at places like private banks. And there, you know, there's a famous is the letter, the International Swaps and

Derivatives Association, which is basically all the big banks that they sent to the FDIC and the Federal Reserve, saying we want treasuries to no longer be considered part of our supplementary reserve ratios, which essentially allows them to buy unlimited amount of treasuries, but continue to loan essentially unlimited amounts of money off of those because they're not affecting their reserve ratios. We've seen Yellen issuing so many more bills. We've seen them create a new six-week bill. We've seen Yellen in the most recent quarterly funding announcement state that the treasury is going to be buying back some treasuries with the general account. And that's just the treasury department ahead of the election just taking supply off of the market.

So all of these players behind the scenes, especially at the Treasury, but to some extent at the Federal Reserve, they all understand exactly what they're doing. They know exactly what's coming. They understand that this inflationary roadmap is in place and they're pulling the rabbits out of the hats to try to manage it. and i think it the best case scenario is they somehow manage it and we have like a 10-year period or longer with much higher inflation than uh people would like to see or uh if the market really sniffs all of this out and you start getting uh real financial um concerns around it you you get the calamitous type of collapse but what i definitely don't see is some way that we We move into a period, as the Fed likes to say, oh, we're committed to a sustained 2% inflation level. I mean, that's just a joke. It's not happening.

And as you referenced, all these inflation statistics are all jerry-rigged. They don't take into account borrowing costs. You know, you look at a price of a home or an education. Over the last 20 years, it's not up what the CPI is up. It's up 3, 4, 5x what CPI is up over that time period. So we've had massive inflation. As you said, we're already in the middle of this and it's still going to continue. dot com safe spelled S-A-I-F the safe house dot com slash gradually use the promo code T-F-T-C for $5 off a checkout. Buy it now, freaks. The price of Bitcoin is going up. You need to

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minutes. We can also connect our bank accounts, our Stripe accounts, our Square accounts to accept fiat as well. The time is now, freaks. The fiat system is fragile. Invest in the infrastructure that de-risks the future. Invest in yourself. Bitcoin payments with ZapRite. Go to zaprite.com slash TFTC to get $40 off their annual subscription. Zaprite.com slash TFTC, $40 off. The ISDA manipulation of the reserve ratio is something that flew very far under the radar earlier this year because you know if that uh if they took their treasuries out of the reserve ratio last year when all these banks fell like arguably they their losses wouldn't be laid bare and you wouldn't have had that mini bank run that went on last year um i mean we've dealt with that

in the bitcoin space too i think silvergate um being you know being one of the best examples they were actually able to pay back all their depositors their cash but um they they were forced to sell their treasuries due to the fact that yields went up and they basically had to sell them to make good on their deposits. But if ISDA had done that a couple of years earlier, they'd be completely fine. And that just highlights the arbitrary nature of how they're operating on the go here. Yeah, exactly. And when you look at other mechanisms they're putting into place they're trying to find places to put treasuries right i mean that's the problem there's this 130 trillion dollar global bond market and people are starting to realize like

okay a three a four percent interest rate just is not going to hold purchasing power over the next 10 15 20 years and people do not want to own you know longer duration bonds now you know the big banks are going to try to send out their sales force financial advisors and still try to tell people the virtues of a 60-40 portfolio and tell American retirees they need to have most of their money in bonds and all of this stuff. But people behind the scenes, they know that's just a joke. And another big thing they recently did that flew a little bit under the radar was the Loomis Gillibrand Stablecoin Payments Act. I don't know if you're familiar, if you talk to your listeners about what they're trying to do with stable coins.

But they're definitely got their eye on crypto writ large, Bitcoin, things that Larry Fink is doing, the stable coins, the way they're getting their fingers into those. So they're going after everything and it is definitely getting out of control. No, I think Tether is what the 16th largest buyer of treasuries at auctions over the last year.

which is pretty crazy when you think about it. And then on top of that, you have these external factors outside of the U.S. where treasury demand is weakening, whether that's because we sanctioned Russia's treasury assets. And not only Russia, but other countries around the world are looking at that and saying, gosh, we've got to diversify away from this as a reserve asset because we don't know if they're just going to flip the switch one day and rug our treasury holdings.

And then again, going back to Japan, they may not want to be for sellers, but with them losing control of their yield curve and being the largest owner of U.S. treasuries globally, like they're going to have to defend that to quell social unrest domestically. And so you just have this natural seller. And so it makes sense that they would be moving the chairs on the deck of the Titanic to try to figure out where they can shovel treasuries from here on out. Yeah, exactly. And you're absolutely right. You know, Japan, largest foreign holder, largest holder globally is obviously the Federal Reserve. And they list it even in their own documents for people that think, oh, maybe the Federal Reserve, it's kind of a public institution. So the Treasury puts out their own documents of the private debt, privately held debt, and intergovernmental debt is the term they use. If the Federal Reserve was part of the government, it would be listed in their own documents and under intergovernmental debt. For example, debt that is held by the Social Security Trust Fund is intergovernmental U.S. debt. They list the Federal Reserve in the private holders of Treasuries.

And obviously, they're up over like, you know, seven, I think it's like, well, it's like 5 billion or something trillion like that in treasuries, and then another couple trillion, two and a half or 3 trillion or so in agency, you know, mortgage backed securities, but which are federally, you know, guaranteed. And I think I think that's an interesting point as well that I've talked about before, which was an idea that came to me from a guy named George Robertson that basically said, you know, if you go kind of pre-COVID and you look at that spread between U.S. treasury yields and agency-backed debt, you know, Fannie Mae, Freddie Mac debt that has a implied, but it's pretty much explicit guarantee by the United States government after what happened in 08 and 09, we know it's explicit now. You have U.S. government-backed debt, and then you have treasuries. And normally that spread has not been exorbitant. it's been a little bit of a spread to take account for the packaging of mortgages and so on and so

forth. But it's not anywhere near where it has been, where you have a 30-year fixed rate mortgage now at around 7% or more, and then you have a 10-year sitting, let's just call it 4.5% to talk about a general range it's been at. To have that type of a 2.5% spread between MBS, what it tells you is that the market is saying in an unmanipulated market, U.S.-backed debt, you know, and a 30-year fixed rate mortgage because of prepayment risk and so on, it's actually similar in duration to a 10-year. So it's a good thing to compare like a 30-year mortgage to a 10-year treasury. That spread can only be accounted for by the fact that there's all this, like I said, kind of backdoor yield curve control light that's already going on with Federal Reserve holding

massive amounts of treasury, Yellen issuing more bills instead of coupons. All this stuff is going on. And that if you look at the yield curve and you think about the risk-free yield curve more along what's the yield curve of agency-backed securities, then you realize that the yield curve has never been inverted. Right. So you've got five percent on the short end and you've got seven percent, you know, basically in the 10 year and mortgage backs, which is the 30 year fixed. And so when people have been saying, well, we're going to have this recession because the yield curve is inverted, the yield curve is no longer telling you the truth. The yield curve is manipulated. The yield curve is bullshit, basically. And if you look at, you know, mortgage

backs, you've got a better idea of the real yield curve and that has not yet inverted. And that's why we're not seeing a recession yeah it's uh it's insane you mentioned fannie mae and i was just looking up the numbers when you when you think about how large their balance sheet is particularly how much debt i think it's in like the four to five trillion dollar range or three to five trillion dollar range and that's just essentially like a zombie debt sitting in this government entity yeah and they just announced they're going to uh bring them into the or they're working on bringing them into the second mortgage business. So people have been hesitant to tap the equity in their homes because the interest rates are so high and the government

is so, you know, they need spending, they need consumption, they need ways to juice the economy. And so they've realized that second mortgages, which don't get that government back guarantee historically, they're even higher than 7%. They're 8, 9%. And they're like, we need to bring these down. And so they just passed laws to or working on executive actions through the agencies to allow Fannie Mae and Freddie Mac to guarantee second mortgages. So that's going to open up a whole new can of worms as far as debt that Americans are going to be able to access. And again, these are more rabbits out of the hat that perpetuate the cycle. And that's why I actually think what this is, is all of these things we're talking about, you know, deliberately

lowering the yield curve, creating second mortgage opportunities. All of these things are inflationary by nature. And that's why I continue to believe that we're going to have, you know, asset prices in general increase. And that's going to include stocks, which are priced in nominal terms. But it's especially good for assets that are, you know, basically barometers on what we've been talking about. And I think the purest play on that is Bitcoin. But then I think gold and silver are also got their own, you know, mojo going for them, especially with the fact that central banks around the world are building up their stockpiles of gold. And so gold, silver, Bitcoin, I mean, these to me are going to be the best performing asset classes. I think stocks are still going to

do well. I think real estate's going to do well. And then what I see happening is when people start to put all of these pieces together. It starts to become market consensus that we're in fiscal dominance, that we're heading for financial repression, that there's no way to get out of this without a massive inflationary spike. Then we're going to see volatility, you know, kind of hit some of those markets like the stock market. In the long run, I think they'll eventually bounce back, but it might be after a 50, 60, 70 percent drop that occurs sometime in the next five years. But I think assets like Bitcoin, gold, silver, those are just at that point, they're going to go places where people don't think they can go, I believe. You know, million dollar Bitcoin, $10,000 gold, $200 silver.

We're going to see things that we've never seen in recent history, but that we have seen in history. You know, we've seen gold go from $35 an ounce to over $800 an ounce in the 1980s, right, where you go in 71, it was 35 bucks. In 1982 or something like that, it hits 850. You know, it goes up that massive, you know, 10x, 20x type move. And there's no reason why we can't see those types of skyrocketing moves. That was a bubble in gold. You know, we created a gold bubble in the 80s and it took a long time to get back to that 850 level. And we're still not even back to the inflation adjusted high of gold.

So it's been a long time coming. And I think Bitcoin has never seen this happen because of its recency. But it's going to see that type of a move, too, because people are just going to realize the only way out of this is to deflate away the debt. It's either that or we don't pay the debt. And if we don't pay the debt, that's even worse. And so the central banks and the treasury departments are going to understand, even though we can never admit this publicly, we need a controlled period of sustained high inflation. And they will manufacture that just like they did in 1946 and 1947, where we had 12 and 13 percent inflation, respectively, during those two years. And we got the 120 percent debt to GDP post-WW2 down from 120 percent of GDP to like 80 percent of GDP because we rattled off 40 percent inflation in 46 and 47. yeah i mean it's got why more vibes as well particularly the stock the stocks and real

estate appreciates appreciating throughout all this i mean that was now ferguson i think put it incredibly well um and when money dies when he said everybody on the street thought that they were getting rich because the stock market was was booming and every paper boy owned stocks and thought he was wealthy however they did not understand that their their currency was being completely debased in real time. And I guess this begs the question too, I mean, you've expressed that it seems like the central banks and the governments see the writing on the wall and again are shifting the chairs on the deck to make sure that everybody's as comfortable as possible as we get closer to the wall that we're about to hit. Do you think they always knew that this

would be the end result of the policies that they began back with the Bank of England? Or do you think, again, this is just some sort of Frankenstein that they lost control of at some point and now are trying to basically mitigate a worst-case scenario, not only that, leverage a worst-case scenario or a calamity to funnel people into another system which they control? Yeah, I think to some extent they did know it. And I think it's a little bit of the case where we know this is going to happen. But by the time I'm already set up with whatever I need to be set up with, or I'm out of public life, it'll be somebody else's problem. So it's like a game of musical chairs where nobody wants to be kind of, you know, left standing when the music stops. And people have always thought and they've always been able to kind of keep that music going so that it doesn't stop when they're the ones still standing. But if you actually look at what's happened, we've seen these crises many times before. People, they like to talk about, well, the U.S. has never defaulted on its debt or we've never had a currency crisis with the dollar.

I mean, again, B.S., we have defaulted on our debt. You know, we have had currency crisis. We defaulted on our debt in, I think, like 18 – forget what – it was part of the debt that we had created during the War of 1812. And if you look at what we did just to get this country started, we kind of did what we had to do, but we created the continental. I mean, there was a saying for a long time, worthless is a continental, a continental currency. It was the initial currency of the United States was a fiat continental currency. And we went from a money supply in the colonies of around $12 million in specie and gold, silver money supply in 1775. By the end of the Revolutionary War, between states and federal governments, over a half a billion dollars of fiat currency had been printed. I mean, you go from a $12 million money supply and you print over 500. I'm not putting this in today's terms. It was over $500 million that was created during the course of the Revolutionary War in state script and federal script, the Continental.

So obviously that stuff went to, you know, two, three cents on the dollar and it was never redeemed. It was never made a whole, you know, that never happened. The other thing that we did during the revolutionary period was we issued tons of debt. And most people that supported that debt, you know, knew that this was in inflated terms and that it was never going to be repaid. And so they kind of sold it and they sold it to banks and speculators and people like Robert Morris and friends of Alexander Hamilton. And once they got their hands on it, that was why Hamilton was so keen when he was our first treasury secretary to have the federal government assume the revolutionary war debt of the states, because all these speculators had picked it up for 10, 20 cents on the dollar because nobody thought it'd ever be paid. And then he comes in and says, oh, no, we're going to pay it.

And that was his main thing in his first term as Treasury Secretary, was to consolidate all the revolutionary debt of both the states and the federal government, restructure it, and then set it up in a way where the government never had to pay it off, but would only have to pay interest and could constantly be rolling it over and rolling it over and rolling it over. And it wasn't until Jefferson came into office and appointed Gallatin as Treasury Secretary that some of that stuff began to get rectified. But these types of games have been being played from the beginning, and they were even more obvious about it back in 1776 than they are now. And we had depressions in the 1800s. We had currency crisis. We had the greenback fiasco with Lincoln. We had market collapses. We've had all of that repeatedly over the centuries in the history of this country. And so for us not to see it would be incredible for us to go from 19, you know, 29 for us to go almost 100 years already without a massive depression or a currency collapse is actually the abnormality. The typical state of affairs has been to see these types of things happen much more often. one thing i'm curious is like what are your thoughts on like the potential or the ability for this to be the last time we have to learn this lesson for for a while i mean when you consider the fact that we live in the digital age individuals like

yourself and me can have conversations like this and then distribute it globally and really get information out to individuals around the world when you look at the emergence of things like bitcoin which really make it impossible for these central banks and governments to manipulate this form of money like do you have hope that um if the calamity is large enough and people get angry enough that we can avoid this moving forward or is this something that we are doomed to repeat time and time again throughout history yeah i mean i mean ultimately i i see money as we have it as a primarily a control mechanism something that really needed to be put in place once the um unabashed rights of the government to do whatever they wanted were taken away so in the

1500s a king didn't like what people were saying in a village he could send in the troops burn down the church take the grain you know rape the women they you know they could they could do what they wanted it was unquestioned absolute authority and and you saw money come into the picture in a big way in the 1600s part of a transfer of land and political authority as power to to money as power and i think you know that we have competing is for the on the positive ledger we have for the first time as you mentioned this technology and this knowledge that was never available in the past we have a way to transact um whether it's through a medium like bitcoin or some other thing that perhaps is a hasn't even been invented yet or some other sort of platform or something

we have that potential in a way that we never had before to cut these guys out of the loop to take away the middleman, if you will, and restore some sort of sanity to monetary policies in the world. And that would be my hope. My concern on the negative side of the ledger is that there are forces that don't want to see that happen. And that while it might be possible, and people like you and me in the audience here are learning about this and feeling like this is the way we need to go when the dust settles, that there could be forces at play that are also very powerful, very smart, very nefarious, that are going to want to put things into place to perpetuate the system under a different name, a different costume. And so I think that's going to be a battle

for the ages. I think we're kind of living in a way at very interesting times. And I think a lot of times people underestimate the amount of change that happens in the world because it doesn't happen in our lifetimes like the world of 1939 when my father was born is a completely different world than the world it is now as he gets ready to turn uh 84 years old in september and in the course of that 84 years i mean what has happened what has changed is just You know, it's almost unfathomable. And I think we have to recognize that all of this stuff, it's actually par for the course to have major shifts in money, in monetary policy. We had Bretton Woods. We had a gold convertibility situation. Then we didn't. Then we had fiat. Before that, we had pound sterling as a reserve currency. Like, this is an ancient history with Thucydides in ancient Greece. This is stuff that happened in, you know, my dad's lifetime. So I think we're going to see big changes, and hopefully this time can be different, but I don't think it's going to be easy. Yeah. When you mentioned the powerful forces who did not want to see this happen, the institutions that come to mind for me are like the IMF, the BIS, the Financial Action Task Force.

What's interesting about these, and I think maybe we should dive into them, is that they're these supernational, unelected entities that have a lot of undue influence over what happens in the global financial system, particularly as it pertains to national debts and refinancing the debt of whole sovereign nations when they get in trouble. And so when it comes to the IMF and BIS specifically, like what should people be aware of in regards to those two organizations, how much control they have and what they would like to see moving forward? Yeah. Yeah. I mean, the IMF, World Bank, BIS, those are the big three, in my opinion. And I think we just saw this week riots in Nigeria, which doesn't get a lot of play on mainstream media here in the United States. But there was basically a massive revolt, the Nigerian citizens rushing into the Nigerian parliament and the president pulling out the military and shooting dozens of people dead on the street. I think he claimed six people died, but independent reports are, it's a lot more than that. It's a hundred shot, at least 30, 40 people killed. And why?

Why were the people of Nigeria revolting? Well, they were revolting because of the taxes he was trying to put on so that Nigeria could pay back IMF loans. I mean, loans to the IMF and also loans from China that they had taken out and they're having trouble meeting the debt service on it. And so the IMF, the International Monetary Fund, the original name that was proposed for it at the Bretton Woods Conference by John Maynard Keynes was the International Monetary Union. He wanted an international monetary union. He did not want the dollar as the reserve currency. He knew that if you set up the dollar as the reserve currency, you would wind up in this situation. I mean, he straight up said what's going to happen is there's going to be such an artificial demand, a synthetic demand for dollars because people are going to need it to trade and all the things that happen with the reserve currency that you're going to get into a situation where the United States is going to be forced to go into massive debt simply to create the dollars that the global financial system is going to need.

And there's a term for it. There was an economist who wrote detailed about the infeasibility of a single nation acting as a global reserve currency. It's called Trippin's Paradox or Trippin's Dilemma. And this was all known back in the 1940s. And John Maynard Keynes' solution was to create kind of a trade-weighted currency system with at its core backed by gold. He called it an international unit of account called the Bancor, which is part of a French working of like French money for gold money, French for gold money. And basically he wanted like if a country devalued its currency so it could do more exports, for example, like this international group would essentially say, oh, no, you know, you're going to be penalized or you're going to have to put in gold or basically making it so that, you know, these trade wars and things that go on where countries are at a race to the bottom because they want to continue to export to foreign markets. he wanted to get us out of that situation he saw this happening so i think that at the end of the day you know your earlier earlier question about yes did they see this happening i think clearly they did and then what you're seeing today with things in nigeria and so on this is all a result of these massive international organizations the worst of which i think is the the bank for international settlements. That's the one of the three that already existed prior to Bretton Woods.

The IMF and World Bank were put in place after Bretton Woods. At Bretton Woods, they voted to get rid of the Bank for International Settlements because it essentially funded the Third Reich. I mean, it was essentially a Nazi shell company based in Basel, Switzerland. I think the only reason why Hitler never invaded Switzerland was he needed the bankers there. I mean, he invaded every other neutral country in Europe, but he never went into Switzerland because he needed that conduit of Western money through the Bank for International Settlements, which has sweeping powers. They're exempt from taxes. The managers of the BIS travel with diplomatic pouches. The grounds of BIS headquarters is sovereign territory like an embassy. Even Swiss authorities can't

enter without permission. This was all created under international treaty at the Hague that created the BIS, which is the central bank for central banks. And which to this day, people like Jerome Powell, Christine Lagarde, the head of the People's Bank of China, the top 63 central bankers from around the world go there every two months, meet completely in secret, do not disclose the minutes of the meeting, don't disclose who attends. They set the global monetary agenda and they do not discuss it with anyone. And they do it in complete secrecy and the media never covers it. And, you know, Powell sneezes in the U.S. and they cover it. You know, he goes for secret meetings every two months to Basel, Switzerland, nobody talks

about. Wow. I thought I was up to date on all these happenings behind the scenes at that level, but I did not know they were meeting every two months. That's insane. Yeah, they have the schedule. You can go to BIS.org and you can look at the bi-monthly meetings and it'll list it. And there's three key meetings. And a lot of the action at Quaz takes place during these bi-monthly meetings every two months. There's three key meetings. The first one that's held on Sunday night is called the ECC, the Executive Consultative Committee.

And this is essentially like the G20 central bankers. And they get together on Sunday night, and they meet for like an hour, hour and a half. And then they go to this 18th story dining room at the top of the BIS headquarters, which is designed by the same architects that did like the bird's nest in China. And they had this super fancy gourmet meal, the best European wines, you know, totally, you know, top notch everything. and they talk about what they want to set as the agenda for Monday. And on Monday, there's two meetings. So the next level down from the ECC is the GEM, the G-E-M, or Global Economy Meeting. And at that point, they let other central bankers from the less powerful central banks in. Some of the larger ones, they let vote and talk. And then the real smaller ones, they only get to observe.

And then they put forward things for the vote in the final of the three meetings, which is what they call the AG or the all governors meeting where the 63 central bank chiefs or their delegates. Now, Jerome Powell goes most of the time himself. Once in a while, he will delegate somebody to go in his stead. But he generally comes and he is the chair of the Economic Consultative Committee. He's the chair of the GEM, I believe. And all this is on the BIS website. It will tell you like the chair of the ECC is the current chairman of the Federal Reserve Board of Governors Open Market Committee. so this stuff this stuff happens they just they don't let anybody in i went to basel switzerland to research this for cause i got kicked out of the headquarters i mean they will not let anybody near this place not even to come in as a tourist and visit i tried to get in as a tourist to visit they looked at me like i was nuts um so this this is the real deal stuff and these are people that um like i said when when hitler invaded czechoslovakia czechoslovakia central bank they didn't hold their gold they let the bis hold the gold and when they were because they thought

it would be safe with with these criminals and and the bis held gold in vaults all around the world mostly in switzerland um underneath the bank of england and underneath the federal reserve building in manhattan um and czechoslovakian central bank gets invaded hitler's henchmen go to the head of the czechoslovakian central bank and say tell the bis to turn over all of czech reserve gold to Germany. And they had guns to their head, and they did it thinking that the BIS would understand not to do this. But no, the BIS did it. They transferred the money into the German account, and then Germany requested physical delivery, and the BIS ordered gold from their vaults in Amsterdam to be driven to Berlin to essentially continue to fund the Third

Reich. So this type of stuff has been well documented. I mean, I'm not coming up with this from some sort of conspiracy theory junk. I mean, this is all available if you know where to look and you're able to find the source documentation. It's insane how overtly corrupt it is. Have you been uh following tom luongo and his his ideas at all uh i'm not familiar uh you can refresh my memory tell me a little bit about it if you want well the reason i ask is i i have a question and i'll back back into the backstory of the question which is like can they lose control of this frankenstein and what would lead to that um like can they lose control at a time that is much earlier than than they would like and what could lead to that one of the things i think could lead

to that is if these um large uh power brokers globally at the central banking layer and governmental layer um basically feud with each other and so tom's got this theory that there's essentially an inter cabal squabble currently going on which is the u.s federal reserve and its commercial banking interests that are behind the Federal Reserve, basically looking at what the Davos class would like to do in terms of ushering in global communism and central bank digital currencies. And he believes that we're in a financial war right now between the US and the European Union, where the Fed jacked rates up and held them there high in an attempt to drain offshore euro dollar markets so that the european communists can't fund themselves to

to bring about um the great reset if you will um is that uh well i i think there's a there's a lot kind of to unpack there and i think that's an interesting theory and i do agree that it's not like there's some i don't think there's like one single truly existent like illuminati builder burger type organization where you get like 10 15 people in a room and this actually is where everything is decided and maybe there's even one person who's in charge of that and that's the whole world i do think there are different tentacles of the octopus if you will i think there's a there's the the biggest level is kind of a western level and a non-western level if you will. And I think those are definitely feuding right now. It's kind of, you could think about

it as like the BRICS and the kind of US-European kind of Anglo-American post-World War II alliances. And then within that, I think there also are, of course, factions, right? I mean, and I think it makes total sense that there is some issues right now between the European Central bank and, um, the federal reserve. I think that one of the big issues, which is not very secretive is just the fact that, you know, Europe is in a very different situation than, uh, the U S right now. Um, especially countries like, um, which is not part of the Euro, but the UK where, you know, people don't have 30 year fixed rate mortgages, like in the UK mortgages are going to start to reset and high interest rates are going to be very problematic for that same thing in places like

canada and then you know you have the federal reserve keeping rates at five percent and it is a bit of an economic warfare right because you you have you have a five percent rate what you do is you're drawing in capital because people want that higher rate um you're you're you're forcing people as you said like selling euro dollar assets to fund things and the euro dollar market is, you know, it's really, you know, where most of the action happens. It actually doesn't happen in the U.S. The euro dollar, it doesn't really have anything to do with the euro anymore. It just means any dollar that's held outside of a Federal Reserve regulated depository institution. So any dollars that are held in banks and financial institutions outside of U.S. regulations,

um which was something that was essentially set up uh post bretton woods by the london banks um they took all these backwater islands that they still owned as protectorate protectorates like turks and caicos and bahamas and caymans and they essentially created an entire offshore banking industry and they got explicit permission from the bank of england to do whatever they want unregulated the bank of england said you do whatever you want over there as long as you're dealing in dollars, it's none of our business. We only regulate the pound. And so the euro dollar system is a criminal money laundering system in the order of probably $100 trillion, or who knows how much it is really, that's completely unregulated. People can do anything. But I think

is a little bit of a roundabout way to get to your question, but could I see tensions happening between the United States powers in this cabal and the European powers right now? Yes. And it makes total sense because it's when the stuff's about to hit the fan, when you're going to get these internal squabbles, right? When everything's going good, then everybody can be on the same page and everybody's happy. But as we get closer to this crescendo point and incentives start to diverge, I do think that you're going to get more and more of this. And it's not just Euro versus U.S., it's also internally, right? It's the National Rally Party and the leftists or the Democrats and the Republicans in the U.S. and what's going on. And what it is really is it's

a symptom that we saw in the 1860s where basically from like 1820 to 1860, real wages in the United States were cut in half as a percentage of GDP. It was like the amount of purchasing power and wealth that the average person had became less and less and less and less um and the wealthy got wealthier and wealthier and wealthier until you got to the 1860s where this disparity was so wide you had these counter elites develop um you know like like lincoln who didn't get 50 of the vote the 1860 election was a three-way election you know he wasn't elected by most of the american people most of the american people thought lincoln was nuts never wanted him to be president but you get these types of weird divergences when um you have this financial instability and so we're

starting to see that you know in this country where the established leaders the clintons and the romneys are getting thrown to the side for the bernie sanders and the trumps because the people on an instinctual level are understanding all of this and they're pissed about it and they they want to shake things up so i think i think there's a lot of volatility and and troubles uh shaking ahead yeah yeah it is uh you can imagine things would get stressful towards the end end state of all this the end game if you will so going back to the end game 27 2027 2028 what are some of the events that you think will manifest between now and then that will lead to this inevitable end game i know you mentioned social security but what other types of actions or market events would you

expect between now and then yeah exactly so i i think like you said this is already happening we're seeing these initial trevors what tremors whether it was the recent uh coup d'etat attempt last week in bolivia the the storming of the parliament in nigeria last week i mean that's just what's happening in the last like 72 hours or something but these are all financial related you know like we said government takeovers you know insurrections whatever you want to call these things are happening right now they've not completely moved into the major economies yet but they're they're they're they're already on their way the the french elections this weekend again are another symptom of this and so i think what's going to kind of put it over the edge of

Was that your question? Like why the 2027, 28 timeframe or what? Yeah. So, so I think when you, the thing about the social security, you know, trust fund is it's an interesting thing because it, it goes, you know, it's like Hemingway said, right? You go bankrupt slowly and then all at once. So it's essentially going to be a moment in time coming up shortly here where Social Security is essentially fully funded, meaning everybody's getting their full check. And then all of a sudden, it's just not. So the trust fund is just going to go to zero one month. And then there's not going to be any money to pay out Social Security benefits except that money, which Social Security takes in during that month from people that are paying into the system, which isn't enough. it would basically cause an immediate like 30% decrease in Social Security. And the way the Social Security law is written is you can't just say to Yellen or whoever would be Treasury Secretary at this point in time, whoever Trump would appoint if he wins, go ahead and pay for Social Security out of the general account. The Social Security Act completely forbids that.

And so it's very difficult to paper over the bankruptcy of Social Security. What's going to need to happen is that Congress is going to have to agree on what to do about it. And that's a very tough thing to do these days is to get Congress to agree what to do about Social Security and Medicare and get a president who also agrees and to do a new law. And there's no easy way to paper over it by just saying, well, we're going to delay it or we're going to whatever. I think that could be a potential thing where they start treating Social Security like the debt ceiling, where Congress comes in and says we're going to approve the Treasury paying for it while we try to figure it out. But I think the signal that that is going to send to the market is going to be that tipping point signal that this amount of debt issuance, that there's just no way to continue to pay the unfunded liabilities of the government, the deficit spending of the government, the the the non-discretionary spending of the government to do all of that without massive debt issuance or there's going to be a need for austerity. And if you're if you're going to get austerity, that's going to collapse everything because, you know, and that's never going to happen. So the only way is that you're going to have to find a way to print more money. And that's going to have to be absorbed in some of the mechanisms we talked about with putting it on bank balance sheets and stuff. But it's super inflationary. And there will just come a point.

I don't know if it's necessarily in one day, could be over a month or a period of a month or two where the bond market, you know, the bond market visual antis, you know, whether it's a failed treasury auction, whatever it is, where these things, when they happen, they can just happen like that. Just like with COVID, where within weeks, you know, the NASDAQ is down 50%. So I think what's going to happen is that there's going to come a tipping point brought on by the realization that there's a massive crisis that is coming with Social Security and Medicare, that's going to be the straw that breaks the proverbial camel's back as far as U.S. debt loads, that's going to send shockwaves and ripples through the financial markets. And that once that becomes consensus, once people start accepting that this inability

to fund the government without copious amounts of money printing is the only path ahead, it's going to cause these spasms in the treasury market, which will ripple through the entire financial markets and start this going. And I think even somebody like Jeffrey Gundlach, who's not exactly a crazy conspiracy theorist guy, I've seen him say, look, the 2024 election, there's not going to be a whole lot of talk about the debt deficits. But by the time the 28th election runs around, it will be the overriding number one issue of the next presidential election. And that this turmoil oil is going to happen and that it can be really bad and like apocalyptic and war start and it's like a craziness or it can be like what we have generally which is kind of what happened after

world war one when we had the collapse after the depression and led to world war ii or it can uh be resolved uh more peacefully but not without a lot of pain such as you know massive inflation markets collapsing gold silver bitcoin spiking massive unemployment um you know and and you have this few year period of just total you know chaos and then from that people realize okay we need to put in a new system and you know we get through it just the way we've we've gotten through other crises in the nation's past whether it was the you know uh almost collapse of the country because articles of confederation weren't strong enough and we knew we needed to create a new constitution or whatever it is but it's going to be a tumultuous time with a lot of volatility and a

lot of craziness, but that doesn't necessarily mean that a billion people are going to get killed. Could a billion people get killed in World War III start? I think there's a non-zero probability of that. Do I think that's most likely to happen? I actually don't. I hope not. But I do think there's going to be a lot of craziness and chaos, especially in financial markets and also in the real economy. Yeah, I hope not too. And I'm optimistic as well. I think, again, going back to the fact that we have the ability to distribute information and most importantly the ability not to depend on the government to get these messages out to everybody we can get them out to each other and i think as things accelerate and that that situation becomes more and more obvious than it

already is to more and more people they're going to intuitively say all right these guys have been lying to me about this for some time maybe i'll go get information from somewhere else and so i think that certainly plays in our favor but when you think of the scale of this is particularly put in the context of times throughout history where similar currency debasements have happened that that is where it gets really scary when you consider how interconnected and fast the the global economy moves these days like what does that do um like what type of unique variables is that put into the equation for us living today. Yeah. And I think we could see things, you know, they go back to some of the old tricks, you know, freeze, shut down banks, you know, shut down ACHs

and FedWires and stuff for a period of days, shut down the stock market while people get together and try to figure out how to, because things happen so fast that, you know, you have to look at what are some of the things that governments have done, including our own government in the past when these financial crises have hit. And we know that Roosevelt issued under penalty of up to one year in jail or a $10,000 fine, which was essentially the equivalent of a million dollars that you needed to turn in all of your gold, confiscation of gold. We know he did a bank holiday where he shut down all the banks and people couldn't get their money. We know the stock market has been shut down at different periods of time just in our lifetime after

september 11th it was you know these things can be extended i mean you you could have a situation you know um okay the government's creating a global currency wallet download it on your phone you're going to get daily ration tokens we've had rationing we had price controls with nixon when the u.s went off that i mean we've had all these things so we could have stores you can't change your prices stores you're mandated by law to accept these digital tokens that are now being sent to people's wallet as ration coins for bread for the week or whatever it is they can view and approve only transactions so you can only use it for food or gas you can't use it to buy i don't know uh you know jack daniels or marlboro lights so you know there's ways that they can use the

technology to kind of control and kind of push through until they can get together and tell and then the people are desperate enough like oh my god i can't get any money i can't do this you know the banks are closed, I can't access my brokerage accounts, you know, all of these things going on. And I mean, you know, people will start to see things like, you know, owning your Bitcoin and, you know, having it under your control and different advantages that exist with that technology and different things will come to light, which, you know, or owning your physical gold, which even though they did try to confiscate it in the 30s, they weren't able to get most of it. People have looked at melt volumes of gold post-confiscation, and it was only like 20, 25 percent of the gold-minted coins outstanding in the U.S.

So like 75 percent of people held on to their gold. So there are certain things that gold, Bitcoin will be able to do that stocks, bonds, brokerage accounts, bank accounts, checking accounts, CDs, things that are part of the traditional financial structure, Bitcoin and ETFs won't be able to do. um and and during this interregnum during this period of like you know when everything is at its worst that's when you know they're going to try to come together with a plan and that's when you know it's it's going to like the people will will look at it that there'll be forces that want to come up with a new plan um there'll be forces that want the the wef claro schwab globalist control you'll own nothing and you'll be happy type uh exit plan there'll be other people that will be like hell no to that i mean and that's where it could get tricky and and civil unrest

would not surprise me during this period national guard troops being pulled out um you know again things that we have all seen in the past and society has survived all of these things we've survived revolutions we've survived chaos on the streets we've survived national guard we And, you know, but it is going to be something that for most people, they perhaps have never seen anything like it in their lifetime unless they're from, I don't know, maybe somewhere like a Venezuela or a different country. Because emerging markets have seen this in our lifetime, but the U.S. has never seen this in our lifetime. What's going to happen? No. No, my hope is that, I mean, with great chaos comes great opportunity as well.

And you've already mentioned gold, Bitcoin, silver are probably going to benefit massively from this. And I imagine in the end game, what I would love to see happen is that things hit the fan. The information gets out to the public that the central banks and the governments created this problem, exacerbated the problem and got this to its end state. It would be utterly insane to give them the fire hose when they're the arsonists and say, hey, fix this problem. I hope that Bitcoin is big enough and distributed enough amongst individuals, and we'll just talk from the U.S. perspective that there's enough U.S. citizens with sizable Bitcoin balances and maybe even gold and silver that they can just go out and recapitalize the markets. Let's just buy assets for pennies on the dollar, spin them up, operate them, and get the economy back up and running and completely avoid the CBDC world that they're going to try and shovel us into. But that's, again, going to come down to people accumulating Bitcoin, holding it, and then having the balls to go out and actually allocate that capital to scoop up assets and get things humming again.

yeah yeah i mean there's so many variables in how exactly this this could turn and i do think that the the power of the military and the power of um physical coercion creates some of some of what you just laid out may be problematic to institute and and i i do worry about you know will people will you know not go down without a fight but that like let's say they try to do this cbc and people want a bitcoin orientated solution and it makes the most sense and that's obvious to everybody they might try to shove this cbd stuff down our throats but you can't have these like moments like the the bloodless revolution or uh you can have these moments where the people's voice is so clear that the government understands like okay you know we can't shoot every single

human being on the planet. Or the military says, enough is enough. We're not going to go out to the streets and start mowing down people because, you know, you want to keep control of your banking monopolies. And that you could almost get this kind of revolutionary impulse that could be very beneficial. And so I think there's a lot of variables in the air of how this could all go down. I think right now their hope is that they're going to be able to try to manage this with like a controlled demolition of the dollar and then put in whatever system they want. But I think the best laid plans of mice and men often go astray and that there's this, you know, very real potential for this managed demolition to not work and that you're going to get this crisis moment and then

you're going to get this kind of existential moment of like, what do we do? How do we go forward and i think there are these um these tools available to us that have never been there and i think when you look at at bitcoin and you look at what it does you look at its tie to energy you look at its uh 21 million limitation you look at its decentralized nature and you look at the the platform that it provides there's a lot of hope and solution there um how everything exactly is going to turn out um i think is is is to be determined but i'm with you i'm hopeful that you know somehow we come through this with something better um even if there is a little bit of pain along the way and hopefully that pain's not too bad and it doesn't cost too many

people their lives yeah you have to imagine like being a history buff and looking at the leaders that we have in positions of power whether that be in the government again we mentioned the president of the united states is currently not uh cognitive cognitively inclined uh even donald trump he is definitely sharper but he's older uh you look at janet yellen at the treasury pal is definitely a bit younger um then you look over like christine lagarde macron these are all people that are widely hated to a certain degree um yeah and so it's like they're not sending their best and that's what i wonder like have they've gotten so hubristic so cocky and so complacent with their ability to basically state things and wave a wand or pull a lever behind a curtain like

the wizard of oz make things happen that they they severely discount the disdain that most people have for them and the individual will to make sure that they don't get control of the system on the back end of the game. Yeah. I mean, I think like Biden is a little bit of like the wet dream of these people, like a completely dementia ridden old man that they can just direct wherever they want. I mean, because they never want anybody sitting in that chair that they don't have complete control over. And even if you go back to other presidents, whether it's George Bush or Barack Obama or Bill Clinton, I mean, when the rubber meets the road on things that this you know deep state apparatus wants they find ways to force it i mean you can read it in

like memoirs like like clinton never wanted to get involved with the whole kosovo thing in the 90s he didn't want to get the u.s military involved but there were like deep economic state actors people like wolf wolfowitz people like madeline albright people that were like essentially forcing his hand to do these types of things i think if you look at bush like i mean there were like total powers trying to force him to keep rolling after he took out uh saddam in like 2003 in iraq like you know israel um other kind of deep state type actors like they were all pushing like hey man this is great you just took down saddam in iraq like that let's keep going let's go into syria let's take care of iran like there's always these forces that are trying to like propagate

these kind of you know agendas behind the scenes and i think when you look at some of the leadership that we have today, I think that some of it is not really by accident. I think it's almost like this is what we want. We want a leader that somehow we can manipulate. Because if you got someone who truly was independent and that actually wanted to change things for the better into some of these very high ranking positions, you know, that's what scares them the most, I think. And I do think that Trump, I think, I mean, I can't know a man's soul. I think he wants to make these changes. I think at least in his first term, there were times he was just way out of his depth and he got manipulated by the swamp and he got, you know, we'll see if he

gets in what he does or how they come after him to stop him. I think whether it's, you know, Biden, I think he's just an easy puppet for them to manipulate so they wouldn't be mad if he stayed in there um so i i think all this stuff does go on behind the scenes and it's really uh i mean it's really scary and it's really kind of tricky and it's it's really kind of depressing too when you just look at some of the leaders that we have and i mean there's so many better people out there for these important roles and you wonder why are these people in there and i think they're in there because the powers that be want these types of people in there yeah it's really insulting when you get down to like the brass tacks of it it's like they're telling you not to believe your lying

eyes they're putting overtly corrupt individuals and positions of power and telling them telling the public that they're there to help them win objectively if you just look back over the last century these centralizing forces whether being governments or banking have really really really uh been to the detriment of the common man a little man if you will well well i mean really quick i mean one of the big things that le pen uh in in europe changed was originally she was adamant about taking france out of the euro and you know not being part of the ecb anymore and she changed her tune on that you know like you know you say sometimes like you'll see like there's a certain point that they'll kind of let people go to but then they

when you start talking about like printing your own money and not being part of the central banking system or removing yourself from some of these globalist things like and so it's really interesting i don't know how they sometimes get to people but i think they honestly do get to people i think there are people that want to do some one thing and they realize i'll never get into power unless I compromise on this or that issue. And that's the most important issue to these, you know, banking cartel type players. I mean, we saw what Mike Johnson here in the US, I mean, he explicitly said, like, somebody asked him, like, why did you change your tune on a bunch of these policies? And he said, well, I had a meeting and it really

changed my mind. He came out. Yeah. Yeah. They like go into a room and they're like, okay, You know, X, Y, and Z, we're fine with you trying to push that. But, you know, A, B, and C, it's off the table. And, you know, I don't know what they say. You know, you want your grandchildren to see tomorrow? I mean, who knows what goes on? But, I mean, they get to people somehow. You just see people when they get into power that talked one way before and then they get actually into power and the things that they said they wanted to do that are truly disruptive to this status quo of international corruption and deep economic state. When they truly want to do something to dismantle that, all of a sudden, you know, nothing comes of it. Yeah, they bring them in the room and they say, here's the real bullet that actually killed JFK. that's uh yeah exactly i mean you you look at like the leaders they take out i mean there's a commonality between people like saddam hussein or qaddafi like they all had like central banks that were not they weren't lending they didn't they didn't do what we talked about in the

beginning where you use the banking system to get your money and you pay the interest they like printed um you know like there there are these histories examples in history of of countries that just printed their own money and didn't use central bank mechanisms and like they're all taken out and you i mean people have talked about like jfk was talking about doing this he was taken out lincoln did this with the greenbacks he was taken out um there there's just this this point thomas jefferson i mean he did not want uh the first central bank of the united states um to continue and that Secretary of Treasury I mentioned, Albert Gallatin, who was great on everything else, eventually caved in and said, oh, no, we're going to continue this. He voted to continue

the central bank. Now, it didn't pass in Congress and the first central bank went extinct after its 20-year charter went up. And that was in 1811. And the very next year after we got rid of our central bank we're in a war with britain the war of 1812 begins and so they go after you when you try to get rid of central banks and what happens after the war of 1812 well the war is over but we get the second central bank of the united states which was you know eventually taken out by andrew jackson but like they they'll go after you um if you don't play ball in this in this massive international um system and it's uh it's really scary when you when you look at it yeah yeah it really is and do you um so how do you think anybody listening to this should position

themselves obviously we got gold bitcoin silver stocks and real estate will probably go up temporarily until it's obvious that um things are in the end game when we hit that suddenly moment But what else do you think individuals should be doing to prepare themselves for 2027, 2028? Yeah, exactly. So I do think they're going to try to perpetuate this kind of AI GLP-1 stock market bubble. I think that that probably has another at least, you know, 18, 24 months could could even go on a little bit longer because all these rabbits in the hat that I talk about. so what I would say for people playing the markets is like if you've got good gains and in you know you're you're in a good position or you're trying to play it like don't be surprised to see it keep going higher and I'm not telling

anybody sell your stock positions personally I'm not selling all my stock positions yet I'm slowly getting out you know a couple percentage a month here and there when I see opportunities and moving that into Bitcoin and gold and silver. I also own and I'm looking to buy more land, not homes or rental properties. I own a few rental properties as well, but I'm looking at just land, vacant land, because I think that that's something that will not only hold its value, but likely increase in value with what will soon be kind of worthless dollars that I would use to pay for it right now. And so I think these real assets like gold and silver and land, along with Bitcoin, are going to be your kind of true north of where you want to

be. Depending on how nimble you are, I think starting to prepare by reducing your equity exposure. But you don't want to give up on the gains that could come because often when these hockey stick bubbles happen, most of the gains actually happen in like the last six to 12-month period. Like you could see something crazy like the S&P shoot up to 8,000, 9,000 by the end of like say 27 or 28 and maybe even 10,000 by the time this collapse starts, more than double from here. So I think there's still a lot of gains left in the markets. And what I do think is the worst thing possible to hold. And I doubt much of the audience holds it, but it's any type of debt that has a maturity of over six months, right? The worst position to be in during inflation

is to have been a creditor. When you loan people money, obviously they're going to be able to pay it back at less. And so I think if there are any people listening here, or maybe they take care of the finances for a loved one, for an elderly parent, and the elderly parent has 60% of their portfolio and bonds, maybe you want to have a conversation with them and say, mom, dad, maybe this portfolio should move towards treasury bills instead of bond mutual funds that have like seven, eight year duration, because this is coming. So I think those are some practical things on like the investment front. I think if you're holding large amounts of cash or things at banks, you also want to be very careful about that. Because like I said, if this really

starts hitting the fan, you know, bank holidays, freezing up assets, not allowing all of those assets to be withdrawn, these things are all possible. So, I mean, I think those are some basic things. And, you know, if you're really out there and you want to, you know, prep a little place to go to, it might not be a bad idea, but I know not everybody has the means to do that. But I don't think that's a completely foolish thing to do if you have the means to set up a little cabin in the woods somewhere as somewhere to go. Yeah. Be prepared. Better to move early than late, especially in the end game. And if you're here listening and you're into Bitcoin, you're probably moving much earlier than most. And yeah, it is scary, a bit unnerving, but to even attempt to solve a problem, you have to understand it.

And so I think this was a great hour and a half to deeply understand the problem, how we got here and what lays before us. And it is crazy. I mean, again, like I said earlier, you can just feel it socially, like everybody's under pressure from inflation. It seems pretty apparent that we're going to have a 70s-style echo wave of inflation on the back half of this decade. And you've got to know that this stuff is going on and prepare and then equip yourself with the knowledge. And hopefully, by understanding the problem more intuitively, you can begin to work on solutions, which is why we do this show, why I've dedicated my life to Bitcoin specifically is because I think it is a massive solution to the problem of central banking, which has gotten us into this terrible place in history.

Yeah, absolutely. And, you know, there's just, there's so many millions of things that we could pile on to the litany of reasons why we're in trouble with this stuff, right? We didn't even really talk about what's happening with the central banks of, you know, foreign countries and their jettisoning of treasuries. And we didn't talk about, you know, what's happening from economic standpoints with energy. We didn't talk about, you know, the geopolitics of stuff in Ukraine or Israel and different things that are just kind of all happening before our eyes. And, you know, I said, I hope we don't lose too many lives during this. I didn't say I hope we lose no lives because I really believe we've already lost lives. I think the dozens of people

that were shot to death on the streets of Nigeria last week because of IMF loans are casualties in this already. So people are dying because of the economic decisions that the global powers are making. They're dying on the streets already. And I just like, you know, we're not, it's just not, unfortunately, it's not hyperbole. It's the facts. So hopefully, you know, the people that are listening, like they're in a good position or they're getting themselves in a good position and we can navigate through this tough time without too much damage being done. But I think damage is already being done. I just hope it's not as bad as it could be.

Yeah. Well, thank you for your time this afternoon, Mel. Thank you for writing the book. Where can anybody who is so interested find Quaz, pick it up, support your work? Yeah, so book is available wherever books are sold, Amazon, Walmarts, Barnes & Nobles. If you have an independent seller you'd like to work with, you can tell them Quaz Financial Thriller by Mel Madison and they'd be able to order it from their supplier. The audio book was kind of a delayed release. It's available for preorder now on Amazon or Barnes & Noble or what have you.

It's being released next Tuesday, July 9th for audio people. And then if people want to see any more videos I've done or stuff, I have kind of a library I'm building on my website, melmadison.com. And I just started getting involved a little bit, posting things here or there on Twitter at MelMadison1. If people want to follow me on Twitter or check out my website, that'd be great too. But if you're interested in these topics and you like thriller novels, I think Quaz could be a good fit for you. So I'd appreciate it if anybody wants to check it out. The other thing, not to pitch my book, I'm not getting paid for this, but if you want to learn more about the Bank for International Settlements in detail,

there's a really good non-fiction work called the tower of basel the shadowy history of the secret secret bank that runs the world and it's a non-fiction title that talks about all all all the stuff i discussed about the bis as well go check it out freaks mel thank you for your time really appreciate it enjoy the rest of your day thanks marty appreciate you having me all right peace and love freaks Thank you.