The Chris Cuomo Project - The REAL Trump Economic Fallout Is Still Coming

Episode Date: May 27, 2025

Chris Cuomo breaks down why the long-term impact of Trump’s trade policies and tariff tactics remains widely misunderstood. He argues that the real consequences of Trump’s economic moves haven’t... even started yet — and that both media and political leaders are pretending otherwise. From supply chain shifts to small business strain and rising consumer costs, Cuomo warns that chaos in the global marketplace doesn’t equal progress. He challenges the populist narrative by asking why ordinary Americans are told to sacrifice while the ultra-rich continue accumulating more. With inflation, borrowing, and investment uncertainty looming, Cuomo pushes for a deeper look at who really wins under “America First” economics. Later in the episode, Kirk Elliott, Ph.D. (Owner and Founder, Kirk Elliott Precious Metals) joins the show to discuss how investors can protect themselves and adapt in the face of mounting economic uncertainty. Follow and subscribe to The Chris Cuomo Project on Apple Podcasts, Spotify, and YouTube for new episodes every Tuesday and Thursday: https://linktr.ee/cuomoproject Join Chris Ad-Free On Substack: http://thechriscuomoproject.substack.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript
Discussion (0)
Starting point is 00:00:00 There's something they're not telling you about what's coming in this economy. You want to talk about cover-ups. Forget about President Joe Biden's mental state, and let's talk about your and my financial future. This is Chris Cuomo. Welcome to the Chris Cuomo Project. When it comes to tariffs, when it comes to small businesses, when it comes to being a consumer, when it comes to borrowing, we have no idea what's coming. I'm not trying to scare you.
Starting point is 00:00:37 I'm trying to tell you it's an unknown. We keep being told by the administration, but also by financial analysts and even in the media that we're kind of living this in real time, like everything that's happening in the market is the extent of what everything means, and it's only the beginning. So what are we told?
Starting point is 00:00:59 Tariffs, better deals, tariffs up, tariffs down, markets up, markets down. Like it's been resolved, right? So whatever Trump did, the Trump trauma, right? Made the markets go up, made the markets go down first, but then they came back up and now it's about even. So that's it, right? It's netted to neutral, right? And there'll be some side stories
Starting point is 00:01:25 about who made a fortune in the last couple of months of craziness, right? Of the volatility. I don't think that's the story. I don't even think it's close to what the story is. Yeah, it matters, especially if they're members of Congress and they were making trades at opportune times during this stuff.
Starting point is 00:01:42 That matters, sure, sure, corruption. But we don't know what these tariffs are going to mean. And I don't mean what Trump's going to do in the future. I'm going to say the future effect of what he's already done. And I don't mean it as a disaster scenario, but actions have consequences. And this is what no one's talking about. So if you want to think about tariffs, get your mind out of the take off your politics hat. Get out of the partisan mindset and really take off your now hat.
Starting point is 00:02:17 Okay? And put on your later hat. And here's why. We don't know. None of it has started yet. Look, here's the reality of what's happened in the economy. Okay? Trump, in my opinion, identified a fundamental problem in America. Fundamental. Our politics, and by the way, how he got where he is, is a beneficiary of
Starting point is 00:02:48 fringe politics. Magnified minorities, right? Yapping about trans athletes that are my size and have the same penis that I have. Or some other fringe issue, okay? That's what's dominating our politics. That's what's dominating the notion of populism that Trump came in on. I put it in quotes because I don't know that he's really a populist, to be honest. But I'll tell you what's a populist issue. When Donald Trump said, hey,
Starting point is 00:03:20 these pigs have been at the trough long enough, these corporate guys, these Wall Street guys. It's time to let the workers eat a little bit more. Now you're talking about the issue that affects the common concerns of the majority in America. I don't like the idea of middle class. I don't like the nomenclature, the vernacular, the term. I don't like it. Why?
Starting point is 00:03:42 Because the battle in our country isn't between the rich and the poor, it's between the rich and the regular. It's not between the rich and the poor. The poor are fucked, and we have a better safety net than most in this country. And the rich are killing it. The fastest growing socioeconomic group in America is billionaires. Think about that. Think about that. Think about that. So what's the battle? The battle is really between the rich and the regular. The majority, right? The majority is lost out in the social media reality because it's all magnified minorities. The majority winds up just sitting back and listening or getting disaffected
Starting point is 00:04:21 and watching and thinking this is all so strange, and it is strange because it's about little pockets of minorities that don't really vibe with you and don't reflect your reality of what you're worried about in your life with your family or yourself. And then, Donald Trump puts his finger on it and says, we got to do something about this. The majority, the jobs, the jobs of the future, where things are made, what price you pay to get access to the number one consumer market in the history of this marble, third from the sun. You got to give
Starting point is 00:05:01 more than you're getting. We have to think about the benefits and burdens and how they're apportioned in terms of who gets access to our markets. I agree 105 million percent. Great issue. How has he gone about it? That takes us into the episode and why I'm going to need help explaining the eventualities. Trump's idea, the problem was well identified. His execution, his solution, his strategy,
Starting point is 00:05:32 or lack thereof reveals his weakness. His strength and his weakness in one moment. Strength, understanding where people are in the majority and what they want. Weakness, Not a manager. So he does, like the movie title that won Best Picture a couple years ago, which I didn't understand. I thought it was a so-so movie at best, but I also thought that about the Enora movie that just won Best Picture. I thought it was so-so movie at
Starting point is 00:05:59 best and a lot of gratuitous sex in it. Anyway, everything, everywhere, all at once, that movie, that wound up being Trump's strategy on how to deal with trade. Tariff, everybody, everywhere, all at once, a lot. That's what he did. Now, what was the fundamental problem with it? Now, you can blame me for saying, well, that's hindsight's 2020. I said this when he did it. And so did a lot of other people, which is why I said it, because I benefit from the perspective of better minds, right? And they told me this, tariffs are two things. There are tax and there are tactic.
Starting point is 00:06:38 Tariffs are two things. There are tax and there are tactic. Why are they a tax? Because they add to the price of things. And they are a regressive tax, meaning what? Meaning the less money you have, the more percentage of your high need they're gonna bite. Okay, why? Because the more money you have,
Starting point is 00:06:53 the less price sensitive you are. This item, this widget, as they say in the law when they're teaching you about business, widgets are like these nondescript things made by a business that can be anything. A widget can be a car, it could be a cauliflower. A widget that costs a buck 50 or 250 doesn't matter to me, but it does matter to somebody who's living on the margins. You see what I'm saying? And most people are two, three paychecks at most
Starting point is 00:07:22 from being broke. Okay? One medical crisis away. The savings rate in the country is very low. These are all real problems. So they're a regressive tax. They're also a tactic. Support comes from pro-lawn. Look, if you're like me, you're working hard,
Starting point is 00:07:39 you're trying to figure out how to get ahead and you've absolutely been tempted by the idea of intermittent fasting. There's just one problem with the fasting thing. See, you don't get any nutrition. So Prolon has found a way to give you the benefits without the detriment, and that is Prolon's five day fasting mimicking diet.
Starting point is 00:08:02 And what it does is works at the cellular level to rejuvenate you from the inside out, providing real results. But you also get to feed your body. And now they're upping their game with the new Next Gen five day program, delivering the same science-backed benefits, but it's cleaner, more convenient, and tastes better.
Starting point is 00:08:21 For a limited time, you can be first in line to experience the new Next gen at special savings. Prolong is offering my listeners here at the Chris Cuomo Project, 15% off site-wide, plus a $40 bonus gift. All you gotta do is subscribe to their five-day program. Just visit prolonglife.com slash Chris C. How do you spell that?
Starting point is 00:08:43 P-R-O-L-O-N-L-I-F-E dot com slash Chris C. If you can't spell that, I can't help you. Then you can claim your 15% discount and your bonus gift. ProlonLife dot com slash Chris C. Now this is the part of the analysis that I did understand early on. Why tariff the fuck out of everybody before you knew who was unwilling to come to the table? Before you knew how much you had to pressure?
Starting point is 00:09:23 That was my question, and it remains my question. So he tariffs everybody a gazillion percent, right? Then what happens? The markets tank. Why? Uncertainty, no strategy articulated, right? And it's a tax. So it's going to make the cost structure go up,
Starting point is 00:09:43 and it's going to lower demand. So the markets freak out because they don't like uncertainty and they don't like increased prices unless there's offsetting demand. So the markets tank. The rich guys who he said had been at the trough too long come to him and say, relax. And it just so happens that the guys who get his ear are donors of his, which bothers me again and makes me say he's not a populist.
Starting point is 00:10:11 And he backs off the tariffs before he's even gotten any purchase on the new deals. So first of all, just from a straight strategic standpoint of leverage, how do you think I'm gonna respond when I see that you've backed off because of internal pressure before I even ever said anything about the tariff? China hadn't even done anything yet, and you're already moving the bar backwards. What does that tell me? What does that tell China? Right? Okay. So the tariffs start being played with 140%, 40%, 110%, 30% only on you,
Starting point is 00:10:46 sometimes on you, maybe on you, but definitely on you. The markets go up and down with the volatility, right? Trump's playing games. What does it yield in terms of deals? We do not know. Where did it settle? Well, not back at where it was before he did all this. And that's the key.
Starting point is 00:11:03 So now you have to begin the analysis right there. Let's say the number stays where it was before he did all this, and that's the key. So now you have to begin the analysis right there. Let's say the number stays where it is, which is like, it's gonna be 30% on these people and 10% on them. Whatever the percentage is, it is more than it was before. Okay? So we now know that things are definitely going to cost more.
Starting point is 00:11:24 When? Whenever. Some starting already, some maybe in a month, some maybe in three months. So what does that mean? It means that we don't know what the effect of this is gonna be yet. The idea that it's over because the market came back
Starting point is 00:11:39 is nonsense and it's watching the wrong street, not Wall Street, Main Street. Small businesses all over the country are increasingly panicking. Why? Here's what happened. In response to the tariffs, what did smart business people do? Well, what do you think they did? If they knew that things were going to get more expensive, what do you think they did? If they knew that things were going to get more expensive, what do you think they did? They bought as much as they could before the prices went up as much as they could. So what did they do? They packed inventories.
Starting point is 00:12:15 That's why we haven't seen things go down in terms of availability yet or being priced out of things yet. In fact, a couple of the prices went down. Why? Because they stocked up on a lot of it and they wanna get rid of their shit, right? Now, what does that mean for small businesses? Because small businesses can't do that
Starting point is 00:12:37 the way big businesses do. They don't have the cash flow. They don't have the reserves to do that. Now, they're getting priced out out and now supplies are starting to change because of the tariff structure and the price structure starting to change. So more and more small companies, which are the engines of our economy. You know that, right? It's over half, but it's close to two out of three jobs that are made in this economy
Starting point is 00:13:05 are made by small businesses, not big ones. You should know that. The entrepreneurial American dream is really still alive, okay, until this. So what happens is these small businesses are getting pinched, and it's happening right now. So, how long can they sustain? How much of a price increase? What does that mean in terms of hiring? What does that mean in terms of pricing? These are all unknowns. And then you have the next wave. What does it mean to you and me and our ability to buy and our ability to borrow?
Starting point is 00:13:44 What does it mean, especially in America, where credit to buy and our ability to borrow? What does it mean, especially in America, where credit is such a part of our realities? People don't have the kind of credit card debt that we all carry like it's no big deal here. People don't save at such a low rate because they borrow to buy the way we do here. People don't have as much as we do here. See, that's where Trump was coming from, which I thought was crazy for a guy
Starting point is 00:14:08 who's about getting government out of your life, to tell you of all people that you should have less shit. Why doesn't he tell the rich people like him that they should have less shit? Why do you got to have five houses? Why can't you just have two? So that everybody else can own their own house. Oh, well that's socialism.
Starting point is 00:14:28 Oh really? But telling me I can't have that much shit, I can only have one doll for my kid so that you can have five fucking houses, that's okay. Look, you're making choices, you're picking winners and losers. Hey, either way you look at it, one is capitalism, one socialism.
Starting point is 00:14:45 Now, I don't buy that shit. They're both choices. So we don't know what his moves are gonna mean to us on two levels. One, as a consumer and as a borrower, right? And as an investor, we don't know. We don't know what to do. And that is going to we don't know. We don't know what to do.
Starting point is 00:15:06 And that is going to happen on two levels. One, the immediate market impact of what happens with our goods and services here in terms of availability and price structure. The second thing is, because of the pressure that Trump put on our allies and adversaries. There is now a new flurry of deal activity going on. So everybody's just thinking about us and China.
Starting point is 00:15:31 But it's not just about us and China. It's about us and our allies, our allies and China, and China with people who are our allies, but now may be open to doing business with China. This is all now up in the air because of Trump. Chaos is not necessarily progress. Okay? So you got, what is our deal going to be like with China?
Starting point is 00:15:58 We don't know. But what is our deal with the UK going to be now? Well, they say we got some terms, but what is the UK doing with China now that they weren't doing before? What are they doing with other Southeast Asian companies and concerns in countries that they weren't doing before because the relationship with the US now is a question mark. Which of our allies who have very rich deals with us
Starting point is 00:16:24 for our service economy, Amazon, Google, Apple, etc., 80% of our economy, our GDP is service industries. That doesn't mean hospitality, by the way. Everybody thinks it's like, what does that mean, serving fast food? No, Amazon, Apple, Google, you know, these information technologies, service companies. Anyway, we dominate that space, but we don't have to dominate it. They could make deals with other people. What if they do because they don't trust us the same way or because there's some prohibitions
Starting point is 00:16:56 in our tariff structure? This is all in the mix now. What is it going to mean for us? We don't know. So anybody who tells you, as the president is right now with his new ad campaign that just came out, that he fixed all these things and he's made things better, we don't know. I like that he attacked the difference between the rich and the regular, at least by speaking to it.
Starting point is 00:17:21 But let me tell you, the tax cut that they're negotiating right now, Trump said, Bannon said, they were gonna tax people like me to make a real relief for the middle class. I hate that term. But for the many, but they're not. I'm getting another tax cut. And they say you are,
Starting point is 00:17:42 but you're not getting the one that I'm getting. And I don't know how that makes him a populist and I don't know how any of things that he's done which absolutely raised prices and they say people are going to absorb the companies are going to absorb the prices since when since when prices go up how much they go up I don't know but they go up, how much they go up. I don't know, but they go up. And what does that mean? Where should I be putting my money? Should I be putting it in cash, put it on the sidelines? But with inflation, my cash is getting less and less valuable. Right now, the treasury rates are good, but they just lowered America's bond rating. So, well, now what does that
Starting point is 00:18:23 mean? Am I going to lose money if I'm in government treasuries? I don't think so, but Moody's thinks so a little bit more than they thought before. So where am I supposed to invest? In crypto? When people getting hacked all the time and the numbers are flying up and down? We have real questions that have been forced on us by Trump's moves. And look, I hope he makes better deals for the country. I hope he does. Why?
Starting point is 00:18:53 Because I'm an American, not an Americant. I don't believe in having bad outcomes because I don't like the guy or the party that's in power. I don't believe in that bullshit. I believe we are a country first and that that is enough. I don't care who's in power. I want good things. And if that benefits who's in power, okay. As long as it benefits me too, I don't care.
Starting point is 00:19:14 So I wanted to get into this stuff and look at where we're headed and what that means about what our choices are in terms of what we decide to buy or we can't buy or how we buy it or what we do when we invest. And it turns out that one of the remedies to dealing with all this uncertainty is the going back to something that's tried and true. Google precious metals and commodities and see what's happening in those markets. Look what's happening with gold.
Starting point is 00:19:46 You know, I used to like laugh like, who wants gold? And well, you know, I was like, nobody uses gold anymore. Guess who uses it? World banks, countries, okay, major corporate concerns. They all have stores of precious metals and a lot of them hold oil too. Did you know that? Support comes from select quote. Listen, if you're the head of a household, you got responsibilities, you got to take care of people, you have to have insurance that works for you. Now, the
Starting point is 00:20:21 problem with insurance is that they're selling you all kinds of stuff, you're not sure whether you need it, and you're not sure whether you can afford it. That's where Select Quote becomes so valuable. Select Quote is one of America's leading brokers, okay? And nearly 40 years of insurance experience helping over 2 million customers find over $700 billion in coverage since 1985. All right? Now what's the difference? Look, most life insurance brokers, it's impersonal, it's one size fits all, may cost you more, cover you less.
Starting point is 00:20:56 Select quote is the opposite of all that. Everyone is a licensed insurance agent, okay? Work for you to tailor a policy for your individual needs in as little as 15 minutes. Get the right life insurance for you for less at selectquote.com slash Chris C. Go to selectquote.com slash Chris C today. Selectquote.com slash Chris C.
Starting point is 00:21:23 So let's quote.com slash Chris C. So not only am I following it, not only am I studying it, but I'm partnering up to get you better answers. And one of my partners is Dr. Kirk Elliott. Okay. Check out KEPM. Okay. That's his company. Precious metals are a big part of the discussion about what to do in uncertain times.
Starting point is 00:21:50 Always had been, but they've been back. And it's interesting to me that the more people talk about crypto, the more precious metals are becoming parts of people's portfolios. Why? Why does that make sense given what's going on? And what about what's going on makes any sense at all? Dr. Kirk is a double PhD for a reason. Dr. Kirk is managing a ton of money for people
Starting point is 00:22:15 and putting them in precious metals for a reason. So I wanted to get his take as a partner here to help us through this period in our collective history of what's happening and what we can do about it to put ourselves in a better position. So we do not know where this tariff stuff is gonna take us up or down.
Starting point is 00:22:34 We don't know and we're not gonna know anytime soon because lagging indicators are real in economics and prices are gonna go up. How much and on what? We don't know. What do we do about it? Well much and on what? We don't know. What do we do about it? Well, for how long? I don't know.
Starting point is 00:22:47 What does it mean for paying for school? I don't know. What does it mean for whether it's a good time to buy a house and whether a bank will lend money? These are all question marks. So the deals that he's gonna make are subject to deals that these same countries are making with each other and with other previous non-trade partners because of what happened with Trump's
Starting point is 00:23:13 tactics. Tariff is a tax and a tactic. What it yields, we don't know. The impact of what the process alone will be, we do't know. The impact of what the process alone will be we do not know. As investors, as consumers, as citizens, we don't know and often not knowing is the scariest thing. So, hold on. Let's keep curious. Let's keep asking the right questions. And let's hope we get better answers than we have today. Dr. Kirk, it is great to have you here as part of the Chris Cuomo project
Starting point is 00:24:00 to help people understand what's going on and what they can do to take charge of their own families and their own wellbeing financially. So talk to me about why you got into this space and why your company is designed to do what it's doing for the moment we're living. Well, it's been a long, long road. I've been doing this for almost 30 years. And you know, back in the day, I was just a stockbroker, you know,
Starting point is 00:24:30 back in the late nineties. And I, and I started sending some money over to this precious metals firm back in 2002. And the company I was with, the stock company said, you can't do that. You're selling away. It's like, wait a second. I'm not selling anything. We don't offer it. I'm just saying you should go over here. But that's the rules of the game even today. So I started, I went over to this firm because I'll always do what's right for the client. But I have to always do what's right for the company I'm working for at the time too. You have to have both. And if you don't have both, it's not a good fit. So I went to this company and, and push comes to shove and, and I'm watching,
Starting point is 00:25:15 you know, uh, Jim Kramer on CNBC, shouting and screaming and yelling. It's like, dude, he's on TV and yelling and people are listening to him. How can I get on TV? Right. So, so I ended up getting two PhDs, one in public policy administration, the second one in theology. And then it's just like the, the floodgates of impact and influence opened and became really, really big was just out there everywhere. And like all these distribution channels. But I noticed something in the precious metals industry, even way back then. And that is, you've got a lot of shady characters out there, right?
Starting point is 00:25:47 They overcharge. You see commercials all the time with some... Nothing against people with gray hair. I've got a gray beard, but like, you know what? Some old actor from the 70s has said, you should go to this company because this is who I trust, right? And it's like, no. Yeah, we don't want overcharged stuff. Not all gold is good gold. Not all silver is I trust, right? And it's like, no, yeah, we don't want overcharged stuff.
Starting point is 00:26:05 Not all gold is good gold. Not all silver is good silver, right? You don't want to overpay. So I wanted to change the way that the industry was done. Have accountability, 8% commission going in, 0% when you liquidate, we'll watch it for free. And only, only, only do bullion that you don't overcharge for because that's the only way for a client to make money down the road is being in the right place at the right time, don't overpay for your stuff. We wanted to change the way that the industry operated.
Starting point is 00:26:36 And now decades later, and we're the largest firm in the industry, we do like a billion dollars here. We're really blessed company because we treat people like family. That's why we do what we do. Help me understand how you married a theology doctorate with investment strategy.
Starting point is 00:27:02 Well, doesn't really correlate too much, does it? So, but, but in, in, in my life, it actually, it makes sense after the fact, right? Hindsight is always great. So, so what my personal philosophy is people over profit, which is why I've left firms in the past before we started our own and, and we were really blessed and doing great. And if you can... What's theology? It's all about people and relationship and relationship, you know, vertical with God, where, you know, public policy, monetary policy, I did my first dissertation on
Starting point is 00:27:36 central bank stuff, you know, monetary policy. Well, when you connect theology with monetary policy, you get people over profit if it's applied properly. So that's my personal philosophy and it's the philosophy of our firm as well. So when people are looking at how to deal with the uncertainty of the stock markets, they have two fundamental systemic restrictions. One is pace, okay? And the second is a knowledge basis, okay?
Starting point is 00:28:13 Or information basis. So help us understand why those things matter as much as they do. We just, we're living a moment now where the markets are up, the markets are down, and there's big swings, and people are making fortunes, and they're getting busted, and people are wondering, how am I gonna compete with these algorithmic,
Starting point is 00:28:36 large block traders that move the markets? What are the realities for people these days when it comes to investing? Well, to me, you first have to look at the fundamentals rather than a chart, right? So a chart is basically all the different factors that go into society, the economy, the political realm. And those things make a chart look like a chart, right?
Starting point is 00:29:01 So a chartist, if you're a technical trader, it's like, okay, this is a good time to get in, it's a good time to get in. It's a good time to get out your momentum trading, whatever. But it's always fundamentals. It's always legislative action, public policy, executive orders, administrative rulings that cause any investment to go up or down.
Starting point is 00:29:17 I don't care if it's stocks bonds, mutual funds, real estate, gold, silver, commodities in general, you name it. Every presidential administration has different policies. Once you understand those policies, you can act accordingly to do what every investor wants to do. This is all of our goals is to buy low, sell high, while minimizing your risk and maximizing your return. Different policy initiatives cause different things to grow and different things to shrink.
Starting point is 00:29:47 And this is what we help people navigate through to actually be in the right place at the right time with safety. I mean, look, press save. You can be in the right place at the right time and not understand why, and you're gonna be stressed out of your melon, right? You're not gonna sleep well at night,
Starting point is 00:30:03 it's gonna affect your health. So when we take a holistic approach to all of this, and we can help you be in the right place at the right time, but take the time to educate and help every single client understand why we're doing what we're doing now. When we've got both of those clicking at the same time, you can put your head down in the pillow at night,
Starting point is 00:30:24 have peace knowing that you've done everything you can do, given the economic, political, social landscape that we're living in, to make sure that you're allocated properly given those times. So people look at who seems to be winning right now, and they're like, wait a minute, Cuomo and Dr. Kirk want me to look at gold and silver?
Starting point is 00:30:45 I got to get crypto. I have to get all the new stuff where these guys are getting in and out and Robin Hood and memes and coins. I got to get all that. What do you say to people when they are looking at what seems to be shiny and new and you're going with one of the oldest asset classes there is. Well, I like crypto and I like tangible assets. I like gold and silver. And when you look at the two, it's like they actually are more related than what people
Starting point is 00:31:15 would think. Right? Because why do people go into crypto? Why do people go into gold and silver? It's because they don't trust the banking system. They don't trust the government. And they think, I want something that's safe. I want something that's out of the system. And you can look at decentralized blockchain and think, okay, this isn't central bank digital
Starting point is 00:31:34 currency. This isn't some big non-governmental organization ruling everything and looking at the source of funds and use of funds and everything that you spend and putting together a digital social profile and social credit score that could, could take you away from your money and divorce you from your bank account. Right. I mean, that's why people go into decentralized finance and cryptocurrency. Same reasons why people go into gold and silver as a private asset. Now, fundamentally they're completely different. One's tangible, one you take delivery of, you have to store it in a depository,
Starting point is 00:32:09 you take delivery of it at home, you store it in your IRA. The other one's completely digital. So here's where the personality makeup of a client is completely different. Most people 55 plus, not all, but most will say, I don't trust this digital stuff. I don't even know how to set up my coin wallet.
Starting point is 00:32:28 What are you talking about? Where younger people might say, I don't like tangible assets. I understand crypto. Now, there's a blend coming. And I think down the road, five years from now, Chris, we're gonna probably have a world where paper money is a thing of the past. Right, it's like money created by central banks in paper form is probably gonna be a thing of the past.
Starting point is 00:32:56 So how do you navigate this chasm in people's minds of, well, I didn't trust the banking system before. Now that it's digital, I really don't. Right. So I think moving forward, you're going to have this new concept of, of stability being like stable coins where it's a digital currency backed by a currency. Or you could have a commoditized token, which is cryptocurrency backed by physical gold or silver or real estate or anything.
Starting point is 00:33:28 We're just moving into this world where central banking as we know it, I think is going the way of the dodo bird. It's becoming a dinosaur because throughout the decades, ever since 1913, when the Federal Reserve Act came into play and the IRS became an entity, you know, we're looking at, we've amassed a mountain of debt. A mountain of debt. How does that factor into Dr. Kirk's strategy? When you, you know, cause that's the talk of the time right now.
Starting point is 00:34:00 And you know, old guy like me, I've watched this movie before. Politicians love talking about children being the future and having to relieve the burden of debt from the next generation, which really plays on a parent's heart chords. When your heart strings, when they say to you, you don't wanna dump this on your kids, right?
Starting point is 00:34:24 I mean, that is so what we are set up genetically and epigenetically to, you know, absolutely respond to. No, I don't want to do that. I'll do anything I have to for it. And then they start talking about the debt, but nobody ever does anything about it, right? Why? Because it means taking less. You know what I mean? Giving less to people. And it sounds great when it comes to cutting taxes, but then when people don't get those services, all of a sudden they get very pissy. So when you think about that debt and the debt service specifically,
Starting point is 00:34:56 what does that mean as an opportunity for Dr. Kirk? Oh, it's actually, it's a huge threat to most of society, but if you understand what that does, it's a huge opportunity because you can invest properly, right? It was one of the founding fathers that said never, you know, take on more debt than can be paid off in the current generation. It's unfair to future generations. That's wisdom.
Starting point is 00:35:19 But that's nothing that we've ever done because politicians like to vote large S out of the treasury because they get votes that way. It feels good. Right. So, so if you look at debt, for example, 1776, when we became a country, our debt was zero. Right. We didn't have time yet to start spending like drunken sailors. No, no offense to drunken sailors, right? Because we've actually done a number to our debt, right? So you fast forward all the way to 2010, when Obama became president, our national debt in like 240 years
Starting point is 00:35:58 went from zero to 11 trillion. In 240 years. From 2010 until now, 15 years later, basically, we've amassed another 27 trillion. It took us 240 years to go from 0 to 11, 15 years to go from 11 to 27 to 37. We added 27 trillion. We're truly making drunken sailors look like school children, right? So this massive amount of debt requires debt service. Our debt now costs a trillion dollars a year to service. It's like, what? We bring in like $4.8 trillion a year. We're spending literally 20% of everything we bring in on debt service. this is unsustainable. Right? So when you
Starting point is 00:36:46 have unsustainability, it's going to cause politicians to print their way out of it because you can't, you can't just tax to the grave. I mean, you can try, but you ultimately run out of tax dollars. So they ultimately always go to the inflate or die scenario. Right, well, let's tax and let's inflate the money supply because we have a printing press. This is the problem where we are now. And this is completely independent of any political party because it's been happening for decades
Starting point is 00:37:18 or it's been happening since 1900. I appreciate you setting the table with me here and helping us understand where we are and what options people have and what they have to look out for. That's the whole mission is to help people have information, have understanding and make the best choices for themselves. And I am happy to partner with you in this pursuit,
Starting point is 00:37:40 Dr. Kirk, and I look forward to doing a lot more of it. Well, it's great to partner with you too. I love your message of truth as well. And hopefully we can impact a lot of people. I think that's a given. That's gold in the bank, as they say. That's gold in the vault. MUSIC
Starting point is 00:38:01 Listen, times are uncertain, but that doesn't mean we can't get to a better place. You got to pay attention, you got to be asking the right questions, and you got to be seeking information from places that know what they're talking about because they've been there before. That's my job, to bring you those voices and for you to process the information and do with it what's best for you. The questions are real. The approach we know.
Starting point is 00:38:30 My brothers and sisters, let's get after it. Thank you for subscribing and following. Thank you for subscribing at the sub stack so that your questions and comments will get answered. The videos are for everybody. But if you want feedback, if you wanna ask a question and get want feedback, if you want to ask a question and get some answer, if you want to ask a question of somebody who I'm interviewing,
Starting point is 00:38:49 you got to be a subscriber. And remember what I'm using the money for, to help people get long COVID treatment. All right? I'll see you on NewsNation 8P and 11P every weekday night, my brothers and sisters. Thank you for giving NewsNation a chance. We are the home for independent critical thinkers. See you soon.

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.