You're The Voice | by Efrat Fenigson - Ep. 16: A new world is coming? [guest podcast]

Episode Date: December 8, 2023

Last night I had the pleasure of chatting with my friend Alex Krainer, and the brilliant Tom Luongo, hosted by Rich on his podcast. Our conversation delved into the geopolitical implications of recent events in the Middle East, including the presence of the head of the Russian central bank in the region. We discussed the potential establishment of a new financial architecture and the rejection of the US dollar for oil trade. The historical context of the Yom Kippur War was presented, along with Russia's strategy in the Middle East. We also touched on the impact of oil price manipulation on inflation and interest rates, as well as intentions behind the Israel-Gaza conflict. We concluded with the murky nature of American politics, and a bit of climate agenda. Hope you get value out of our discussion. If so, please leave a review and rate the podcast. Chapters 00:00 Introduction 03:05 The Presence of the Russian Central Bank Head's  in the Middle East 04:02 Speculations on a New Financial Architecture 05:29 The UAE's Rejection of Dollars for Oil Trade 06:28 Possible Redrawing of Borders in Israel and Palestine and Historical Context of the Yom Kippur War 09:18 Russia's Strategy in the Middle East 12:10 The Role of Donald Trump in Shifting Power Dynamics 14:28 The Split Between Europe and the Anglosphere 19:17 Russia's Extrication from the Dollar 20:16 Potential Break of the Saudi Rial Peg to the Dollar 36:31 The Israel-Gaza Conflict in the Global Macro Picture 50:20 The Murky Nature of American Politics and the Emergence of a Radical Center 52:35 European Politics and the Euro 53:10 The Role of Wall Street in Politics and Trump’s Tariffs as a Stumbling Block 56:08 The Possibility of Trump's Nomination 58:28 The Battle for Control and Corruption and The Impact of Monetary Policy and the Financial Markets 01:02:15 The State of Europe, the EU and Green Energy Plans 01:16:49 The Influence of Retired Major Generals in Israel 01:19:33 Qatar's Role in Funding Terrorism 01:25:08 The Influence of Elon Musk's Visit to Israel 01:28:05 The Year of Collateral and Importance of Oil Tom's website: https://tomluongo.me/ Tom's Twitter: https://twitter.com/TFL1728 Alex Twitter: https://twitter.com/NakedHedgie Alex Substack: https://alexkrainer.substack.com Rich Twitter: https://twitter.com/cryptorichyt Rich Telegram: https://t.me/cryptorichofficial ► If you got value, please like, comment, share, subscribe and support my work. Thank you! -- SPONSORS -- ►► Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the latest episode - yep, you’ll have to watch it): ⁠⁠⁠⁠⁠https://affil.trezor.io/SHUn⁠⁠⁠⁠⁠  -- LINKS -- Efrat's Twitter:⁠⁠⁠⁠⁠ https://twitter.com/efenigson⁠⁠⁠⁠⁠ Efrat's Telegram:⁠⁠⁠⁠⁠ https://t.me/efenigson⁠⁠⁠⁠⁠ Watch/listen on all platforms:⁠⁠⁠⁠⁠ https://linktr.ee/yourethevoice⁠⁠⁠⁠⁠ Support Efrat's work:⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.buymeacoffee.com/efenigson⁠⁠⁠⁠⁠⁠ Support Efrat with Bitcoin:⁠⁠⁠⁠⁠ https://geyser.fund/project/efenigson⁠⁠

At least that's what I think. What do we want to start with? We are now live. We are now live. God, I haven't done one of these forever. Hi, Mom. Hi, Mom. Hi, Mom.

The last time I said hi, Mom on my live stream, it was followed by a series of invective that I'm not allowed to... I was admonished to not say it in front of ladies today. So it's funny. I can't hold to that promise, especially if we invoke my mom. So, yes, yes. Alex, you look so chuffed that your mom is watching. You look so happy. All right. Well, let's start. Thank you. Thank you. Thank you. All of you. Thank you, Efrat, for making this work. And thank you, Alex, for making this work three times this week. Lucky, lucky me. Three videos with Alex this week. And thank you, Tom, for making this work as well.

and i'll have the links to all your stuff in the description below in fact they may already be there and there'll be a little snip of this video on youtube on both my youtube channels and a little slip on rumble but the whole thing will go up later on odyssey and three speak so please support me there bit.ly oh okay good good good what's the cat's name because the cat can also say hello to cow hello cow i love cats okay all right but we started with the photo bomb okay and do all the business about whatever you do that you're supposed to do and i'm supposed to say okay so where should we start where who wants to start and with what topic as we travel the macro universe i was gonna say i don't think there's anything going on so we can just like

bag this thing and go home yeah on the news front so boring um you know if we're gonna start anywhere i'm like i want to get geeky and talk about the bank of japan but i don't think we want to go there today um tom you'll turn the viewers off you'll turn off alex oh i know everybody i'll just like oh never mind tom come on stop it so um i don't know where do you where do you guys let's start with the middle east and with putin because i watched through twitter yesterday how he was greeted and then i saw what you retweeted about um the russian finance minister being part the delegation and then the way that putin travels flanked by um four russian jets air force jets and stuff and then what he did in the middle east do you want to which one of you

wants to start with that well just to clarify it was the head of the russian central bank alvaro nabilina who went with him and that's actually very interesting that he brought her with him um because nabilina is a very controversial figure right because for years we couldn't figure out who she actually worked for right did she work for the russians did she work for the imf She's IMF trained. I've criticized Nabilina 18 ways from Sunday, and then I remind myself that Putin is the ultimate mafia don, and very good at eventually giving people offers they can not refuse. And the fact that she's still head of the Bank of Russia, she is competent, but again, she's also Western IMF trained. And I think we can say safely now with her showing up with Putin in the Kingdom of Saudi Arabia, and clearly then we go over to the UAE, that the infrastructure for some kind of a new financial architecture is what's on the agenda. And make sure that everybody knew that Abelian went with him is telling you that that's where we're going.

So now the question is, what are they trying to set up? And I have some thoughts on that. I've talked about it a lot recently, but what I think is going on with oil prices in Saudi Arabia and all of that. But, you know, I'll throw that out there first and let you guys chew on it. And then we'll kind of go around the world. Cool. Efrat, Alex, either of you? I'll just add that it's interesting to see how the Emirates is stopping.

They don't want to accept dollars for oil trade anymore. I mean, that's a big indication. And in COP28, we're seeing the Emirates Sultan speaks against the move out of coal, oil and gas, which is, I would say, like a spit in the face for all these guys over there. it's like it's it's exactly the place where he's not supposed to say it and he said like the quiet thing out loud and so um you know going against that green agenda and telling them you know this is how we roll it doesn't work like your way of rolling that green way of rolling we don't roll with that and uh and i think that's another important indication then you see putin

traveling within two days to emirates and saudi and iran and jordan everything in two days it's like he's he's doing his he's rounded like his his tour his uh majestic tour and i wonder how many oil deals were made during these days i don't know i mean you guys are the experts i'm just like looking at it saying what's happening here and then tonight i think it i think it is tonight He gave an official statement that he supports a two-state solutions for Israel and Palestine. And my guess is that we're going to see, I don't know when it's going to happen, but global powers present in Israel to kind of redraw the borders and keep Israel and Palestine each to their own sides and not fight any more kids kind of approach. like some some global powers coming into the country to redraw the the borders which is something that has been on the table for tens of years we we all know the story with the Yom Kippur

war and in 73 exactly 50 years ago and I love how the the cabal is uh playing its um symbolic tricks again doing it exactly 50 years on the day actually people are saying it's not on the day because we started this war on the 7th of October and the Yom Kippur War was on the 6th of October. But if you look at New York time or US time where Kissinger is, it's exactly, or was actually, it was exactly 50 years ago. And so we, I mean, we can reiterate what happened there just to remind people how in 1973,

OPEC placed an oil embargo on the US and other nations that had supported Israel against the Arab states in the Yom Kippur War. And five months after the Bilderberg meeting in Sweden in 1973, Kissinger, which is, for those who don't know, he was an attendee of the Bilderberg meeting, but also the Rockefeller protege. And at the time, he was Nixon's Secretary of State. he engineered in a way uh the om kippur war i know many people would hate me saying that

especially israelis but um you know that's what i think and provoked in a way opex response which was an oil embargo of the u.s and other nations that had supported israel at the time and uh yeah so so i wonder because i um listen and i'm not an expert on this i'm you know i learned this history myself yes i wasn't alive when it happened my my father had to be a soldier during that war and lost many many friends and it's not easy to learn that a lot of your friends got killed because someone orchestrated an oil deal in the middle east yes and therefore i just wonder if history is replaying now with putin traveling around these nations say and and i I think it was Alex Christoforou and Alexander Makouris in the video they posted yesterday.

And we record this on Thursday, 7th of December, where Saudi Arabia is saying to the US, you mess with us and you will be sorry. So hinting at a possible oil embargo and what that would do. So who knows and who knows what else he's talking about, because he's not one for wasting his time. Alex, anything you want to say about Putin and what's going on or what Efrat said? Well, I thought it was very, very interesting. Remember, Tom, when December 2021, when the Russians gave the draft treaties to the United States and NATO, and then you and I had a discussion, I never dreamed that they would actually go to war with Ukraine. I thought that they would not do that, but they did.

But the other alternative that we were looking at was that they might speak to kick the United States, the Western alliance, out of the Middle East. Yep. I think that actually both are—I think that this is still happening, and they're still doing it. And I thought that they are, I think that they're playing it in an extraordinarily sophisticated way this time around, because what I was fearing that would happen, and I thought that that was, I still believe that that was the intent behind 7 October, to provoke a concerted attack on Israel from Arab powers, from Arab nations. because in that case the western nations the western powers would probably come to the defense of israel and probably with some popular support so you would get world war three and i think that that's what they wanted but after the initial and then you know also if you if you paid close attention to the you know what did what did netanyahu do they went and they they they they

attacked lebanon they launched uh several attacks on syria uh accidental attack on egypt and on the other side hamas were trying to talk up a a general you know clash of civilization thing they were saying like all muslims should go out and you know attack uh western powers and they were they were trying i think it was muhammad who was trying to uh induce kind of muslim leaders around the world to issue a fatwa obliging muslims to go into like a jihad and to go and spill their blood and blah blah blah all these apocalyptic things and then it just kind of um it kind of dissipated kind of petered away and they didn't what they did instead is they started attacking the united states in syria in iraq in the west sea they started attacking um israeli

vessels commercial vessels so they they started these pinprick attacks through proxies not even you know not even the syrians not even the iranians but through proxies these little pinprick attacks but every day and in a way that doesn't get the collective west to unite and to say like okay this is our cause and we have to defend this and so i think that now they're completely lost and i would give also credit to donald trump for creating uh the conditions for this because if you will remember in um i think it was 2019 or 2018 he wanted to withdraw uh u.s troops from syria yep and he got sabotaged by the by the deep state and then he said all right we're leaving the troops in syria but we're doing it for the oil we're doing it for the oil we're

not you know there's nothing to do with terrorism nothing to do with freedom and democracy we're there to take the oil so that seemed uh you know that seemed undiplomatic on statesmanlike on on bad tape and everybody you know filed more hatred on donald trump but what he did actually is he broke the west the you know western european nation's support for u.s mission in syria so today i think rather than west supporting the united states in syria because they are fighting terrorism uh they're on their own because they're left they're there for the oil and that was very clear you know it wasn't a small thing because there were these uh you know the cia for many years and you know brookings institutions and the atlantic council

they had these um brainstorming sessions about how to consolidate western european support for the what the united states was doing in syria so you know blowing that blowing the foundations from under that was actually a very very interesting move and a lot of the crazy shit that donald trump did actually you know in retrospect he could he was consistently rolling back American imperial commitments around the world, where he couldn't. Very good.

At the edges, certainly. Remember, he also wanted to withdraw troops from Germany, which again, also that couldn't happen either. They had a war planned in Ukraine and they didn't want to do that. So I think that it created

a situation that now has put the Western cabal on their back foot you know i don't think they have a i don't think they have an idea of what to do and the initiative is clearly with russia and china and this is what why we see this huge delegation of russia going to the uae going to saudi arabia going to iran and they're cutting deals and they're probably talking energy they're talking nuclear power plants they're talking defense pacts they're talking security architecture. And I think that the United States and NATO are on the slippery

slope out of that region. And I think that the consequences are going to be absolutely tectonic. Well, the interesting part about this, Alex, is remember that I've been saying for a while now that there's a fundamental split between what Europe wants and what the Anglo sphere, for lack of a better term, wants. Like the British American neoconservatives want X. And it's very clear that the Europeans, the Davos, for lack of a better term, want something different. The French and German deep state want a third thing, right? Because they want to replace NATO as the security guarantors and the military industrial complex in Europe.

That's what they want. That's been very clear. Macron's made this clear. The Germans have made this clear. So you've got at least three different factions now making up, quote, unquote, the West as to what's going on in the Middle East. And, you know, as I map all of the issues that Netanyahu has had, and literally within Israeli politics, and you can speak maybe more clearly about this, that I map at least two different factions vying for control of the Israeli government. It's constantly shifting back and forth between likehood and not likehood, for lack of a better term.

And this is constantly shifting back and forth because ultimately, Israel is a British project. It's a British-American project. It's not a German project. It's not a French project. So it's always been a problem here. And so Syria is a lost cause for all of them. They originally were going to, you know, the whole goal of blowing apart Syria was that everybody was going to get their gifts, right? Turkey was going to get Idlib and the northern 30 kilometers.

You know, the Germans and the French were going to get access to Iranian and Saudi Arabian oil. That's what the JCPOA was about. Netanyahu hated it. The Anglosphere hated it because they wanted to sell American oil into Europe, yada, yada, yada, right? So you have all these competing things and everybody was supposed to get their gifts. And none of them got anything because Putin moved in, brought in a bunch of Su-24s and started supporting the Syrian army to bomb them and take territory back. And that eventually wound up in the Balkanized state that we have today, where we have the Turks are still in charge of Idlib and the Kurds and American proxies, the SDF are in charge of everything east of the Euphrates River. And then you still have the border patrol at Al-Tanf out in the desert to be able to, the Al-Bukhami border crossing between Iraq and Syria. So nominally stop Iranian support coming in to Hezbollah and to Syria across that border crossing.

That's the way the map plays out strategically. So now the big question now is, they're all fighting amongst themselves because they still want their Gibbs. like and they realize there's a failed project that there's always the possibility of how can we get the united states out of here so that we can then not commit ritualistic suicide continuing this process because in the process of splitting these factions apart which is what putin did when he moved into syria in 2015 and then engaged in very deft diplomacy with all of the other major players he created opec plus now we have bro pack plus okay he the the russians and the saudis own run opec right so we now the entire opec speaks with a singular voice when 45 years ago it was

being blown apart so you now have putin has definitely brought everybody on board to say look i punched the the evil empire in the face in syria and i'm still standing they punched back in ukraine and i'm stronger now than i ever was before now i get to walk in and we get to start setting terms of how we are going to go forward as a block when he did this in syria in 2015 when he walked into the un two days before that and demonstrably said to the do you realize what you have done. That speech laid the law down. And then him and Khomeini both laid the law down at the UN summit. And then Putin moves in two days later. And then everything after that has just been a thing that's been running since then. The key to all of this has been the way Putin

handled the extrication of Russia from the Western financial system. Without him extricating Russia completely from the dollar, none of this happens. And this then goes back to the oil collapse of 2014, 2015. The deal that was made by China and Russia to make sure that dollars moved into Russia during the ruble crisis to re-denominate all of Gazprom and Rosneft's debt and all that stuff. And I've talked about this a thousand times for those of you who've heard me give this speech before. I haven't done it to Efrat. So I don't know if you understand my perspective on this, but it's important because as you talk about the historical parallels of the Yom Kippur War, I've got the historical parallel today of what's going to happen with

Saudi Arabia. Because China came in with their dollars and saved the Russian economy and said, We'll loan you the dollars. You pay us back in yuan. Okay? I have it on good authority. This is exactly what happened. My friend, Ben Slanchi, has a guy over in China that literally he's been talking with. So, yeah, this is what they did.

And they're doing the exact same thing all across Southeast Asia today. Indonesia, you've got companies that are in trouble with the strong dollar? Fine. We'll loan you the dollars you need. Get out from underneath that debt. Redenominate it in local currency. Pay us back in yuan. We do plenty of trade.

You should be able to do this. It's a soft way to internationalize the yuan. The SWIFT data is very clear. The yuan is starting to rise rapidly in finally breaking out of that 2% to 3% range of settling global trade. It's now at 5.3% as of the last SWIFT RMB tracker, probably be 6% or 7% by the end of Q1 of next year. So it's happening. Well, the same thing is happening with Saudi Arabia. What happened two weeks ago?

Now, Saudis and the Chinese signed a $7 billion currency swap deal, which was the precursor of them coming in to help the Russians. They did the same thing during the height of the ruble crisis to help the Russians get through their rollover problems that they were going to be dealing with at the end of December of 2014 and into Q1 of 2015. They had hundreds of billions of dollars of debt that had to be paid off because it couldn't be rolled over because the Russians were cut out of the Western banking system. that's what's getting set up for the saudi arabians today that's why it was so important that nabilina was there because with nabilina showing up it's literally the russians saying look this is how we did it this is how we're going to support you when they go after the price of oil and god god fucking big you can see it and they're bombing the price of fucking oil every day why is oil trading at 75 dollars a barrel so hold on a second it's crazy it's not

so obvious that that's what they're doing they're setting up another run on the price of oil into 2024 to try and break the saudis the saudis are going to break the peg it's going to go i mean i another half an hour but i'll stop here yes yes yes efrat alex anything you want you put a lot in there thank you thank you tom thank you alex thank you efrat efrat anything you want to say i just want to listen to tom continuing he's good isn't he i'm learning come on i'm learning this is such a deep i was really glad you brought up the yom kippur thing because the historical parallel here is the setup

and it's all about currencies. It's all about setting up the infrastructure necessary to break the reliance of the Saudi Rial, which is pegged to the dollar and the UAE Dirham, which is also pegged to the dollar. That has to be broken. You know that full well that

if those two things occur that there's going to be consequences. Because we have one mechanism by which to make people pay. And you reckon that's the domino brick, the first domino brick that we're pushing in order to start a bigger financial collapse? The interesting part about this is the following. If you bomb the price of oil, you blow a massive hole in the Saudi budget. Because the Saudi budget is paid

in reals, which is effectively paid in dollars. The Saudis pull oil out of the ground at, what, nine bucks a barrel, actual cost, but their budgetary costs are $80 a barrel. This is the part that everybody forgets about. So you break the peg to the real, you bomb the price of oil, all of a sudden the Saudis don't need $80 a barrel. Saudis can get away with, you bomb it to $50 a barrel and you got the real depreciate. This is how the Russians did it. But the Russians were holding in 2014, they were trying to hold the ruble, excuse me, below $30 to the dollar. And they were spending their foreign exchange reserves doing this.

The Saudi royal family does not like spending the money that they've earned over the years. They don't like just handing it away. They're allergic to this. And they're very clear about this. And during the last oil crisis, we tried the same thing. Hey, by the way, this is what you do. You let us bomb the price of oil. You pump more and take market share from the Russians.

and then you'll own the market share after the market comes back. It didn't work because Putin let the ruble float and he kept his market share. As a matter of fact, he expanded his market share because he was able to undercut the Saudis. They were hemorrhaging 25%, 30% of GDP as a budget deficit for like two years. The Russians, meanwhile, were running a current account surplus, a trade surplus, and a budget surplus and making money hand over fist and Gazprom was paying out in depreciated rubles for guys pulling oil out of the ground at $8 a barrel. it was it was the simplest thing in the world like i just let the rubble flow the only thing

is you have to go through a nasty inflationary uh recession for about two years where internally the russians were running you know 12 14 15 inflation but you know they were going to go through it at some point so some at some point you take the punch in the mouth and then you get on with life but then you're free yep and that's what that's what i think is that's i think what's happening now is that that the together they can all turn around and go to the to the to the rest of the west and go if you bomb the price of oil well and you can see why the the biden administration will bomb the price of oil it's got three good reasons one it's an election year they need they need gas prices down two they need inflation down so they can get jerome powell to cut interest

rates and third um they need to you know keep playing this game of punishing of punishing GROPEC for getting out from underneath the old system. Those three things together tell you that they're going to stage a massive attack on the price of oil. Thank you.

That was the microphone. Alex, you've got to see my big job. Nothing to add except earlier we were talking about who does Nebulina work for? Damn. That just brought back the visual of Austin Powers.

Who does number two work for? Remember that? It just came all by itself. Sorry, I had to mention it. Alex, I have to say, your contributions have been remarkably profound. You know, your mother and Austin Powers. That's why I'm here.

Come on. No, but I do remember 2014 when they staged the attack on the price of oil. Oil price fell from And it was, what, $110 a barrel. And over the next 18 months, it declined by like 75% or more. It went to below $30 a barrel, which was absolutely shocking.

It's been trading above $100 for three or four years before that. But yeah, so what started happening is that ruble was starting to fall off a cliff. And Abulina started selling off the reserves to support the ruble. And that was a very interesting moment because, you know, when a central bank defends the, quote-unquote, defends the exchange rate of the domestic currency, what they're actually doing is they're selling off the silverware, the nation's silverware, at fire sale prices. you know and this defending the defending the currency is the is the uh the justification which is which is completely phony and i thought that was a complete disaster and then putin steps in and says stop it let the ruble collapse which is the which is the normalest thing in the world because your your domestic budget is in ruble if ruble crashes well you're still selling the oil

in dollars right so you're getting a lot more dollars for the same for the same low price right i mean i mean you're getting a lot more rubles for the same for the same dollar price so you're you know the impact on your on your on your budget is minimal or it's it's it's it's very very uh muted and so that was i think that this is the moment when putin stepped in and said i'm the boss here i'm the sheriff in this town this is what you do because i think that she was getting her orders from the imf or wherever the hell you know city of london i don't know where and she was going along with that and this is where it changed yeah it continued actually alex for another um for another six or eight months because he immediately

Tom, we lost Tom We lost him I will ask a question in the meanwhile Alex, tell me if this is related And the economy was starting to come back Tom, we lost you So we need you to repeat what you were saying You need to rewind about 30 seconds

Starlink, sorry It got passed from satellite to satellite. Well, once the funding crisis was over, once the rollover crisis for the corporate bond problem for Russia was over, right around – by 2016, after – she still had interest rates way too high. Now she was choking off the economy on purpose. Again, getting her orders from the IMF. And I was screaming about it on my blog and my newsletter. I was like, oh, my God, what is she doing? And if Putin comes in on a Thursday afternoon, Wednesday, she was supposed to cut interest rates.

She didn't do so. Putin goes to the Bank of Russia on Thursday. And on Friday, she cuts by 50 basis points. Like, you work for me now or you don't work or you go to the GULAG. And what happened, and you know that she was holding it too high, interest rates too high, because the minute she did so, the ruble strengthened. And the demand for rubles was so high, and she had restricted the supply of them so much that when she let some of them into the market, the market was like, yes, more rubles. And literally, it was this way.

When you see a central bank cut interest rates and the currency appreciates, that's a telltale sign that they were way too high. Right. Way too high. Okay. Now, I want to bring it back to now. I want to ask a question, a quick one to Alex, because he was referring to selling reserves. Is it the same, like we just had in Israel last month, or I think it was, when was it, October, end of October. For the first time since the year 2000, the Israeli Central Bank sold the dollar reserve, and it announced a plan to sell up to $30 billion, because the dollar was going so high, up to 4.08 shekels per dollar, and they managed to bring it down a bit. Now, I'm not a financial expert, but you were talking about selling the reserves, so it reminded me, because Israel has a lot of dollars, and the shekel was getting weaker against the dollar.

You know, I don't know why they would be doing this, but every time a central bank does this, I suspect foul play. um you know maybe they had a justification of some sort i don't know you know what they said it's in light of the war of course oh yes you know war justifies absolutely everything you know obviously they lie about these things they're not going to tell you the truth but i wouldn't be surprised if it wasn't uh it wasn't just flat-out plunder you know not not by israeli government but but by whoever is on the other side of that transaction you know they they use these crises to do all kinds of all kinds of things that are always harmful to the people but beneficial to the high cabal yeah and then they say like oh it's the war you know

oh the oil price collapsed oh you know the currency is depreciating 1980 1992 Bank of England you know they bankrupted the Bank of England in this way and who was it

it was George Soros and Druckenmiller and all of these people and it wasn't only them you know they confessed it they fessed up to it but it was the whole episode

just i could the whole episode of how because we know blow by blow how it went with the bank of england the absurdity of it that anybody who is qualified to um to run a kindergarten would even come up with the idea of like hey let's um let's defend let's let's sell off all of our reserves to defend the exchange rate of the British pound is so absurd that you can't help thinking, like, why on earth were they doing this to begin with? It just, you know, the rationale doesn't add up. But somebody made billions, billions, while they bankrupted the Bank of England, they

It plunged the British economy into a recession. Millions of people lost their jobs. Hundreds of thousands of businesses shut down. It was a complete effing train wreck, predictably. And you ask yourself, who is running these central banks? And how could they be so staggeringly dumb? They're not dumb. They're just doing something else.

Yeah. Interesting. Just to complete the picture, this is $30 billion out of $200 billion that Israel has in U.S. dollar reserves. Wow. And they didn't say for how long, like what will be the period that they will be selling it. They just said that that's the plan now. Well, what's interesting is what Alex is describing was the fall of Margaret Thatcher. And that ushered in the government that brought in the one that moved them into the European Union.

that was the goal of the exercise George Soros is a freaking MI6 asset and he was made by these people and created to do exactly what he did and then he has billions by which to then

run a war chest to bring the rest of Europe into the European Union by undermining their governments through NGOs and this and that and everything else this is their game these people aren't stupid, they're just vandals and when they're

running any of this stuff as anything other than traitors to their race, their people their country they have no allegiances other than to power other than power and or their religion which maybe is globalism

if they even have a religion, the closest they may have is globalism universal serfdom for us and unassailable power hold on sorry I have to push back I have to push back. That's grossly unfair. Do you forget LGBTQ?

Plus, plus. I have to flagellate myself for that one. Oh, my God. That's right. And European values. Thank you, Alex. Okay. European values.

You know, we can be critical, but we should be fair. I want to bring you back to Saudi Arabia, the Middle East, Putin, oil price crashing. the deep head of the Saudi Riyadh from the US how and when is that likely to play out and what's the impact going to be on the other OPEC nations, on Israel on the European Union

on the United States who'd like to take that? Sounds like Tom It does, but I was hoping I was hoping I'll let the microphone run for somebody else for a little while what i'll say is this i can i can make an argument as to what putin was really offering in this charm tour which is how do we use this against them if they're going to run this playbook

that they've run a thousand times how do we use it against them um it's going to be this first half of this year okay and the reason i think it has to be the first half of this year is because We've just gone through this massive mass formation psychosis about the fact that the Fed is going to pivot and happy days are here again and we're going to have to cut interest rates and blah, blah, blah, blah, blah. None of that is true, of course. But this is all just a big blackmail operation to get Powell to speak dovishly next week. If Powell comes out and says the exact same thing that he said to the last two meetings and the last four speeches he's given, and he closes the fucking door on this idea that he's going to start cutting or even pivoting or even holding interest rates, cutting. In Q1 of next year, they're all hoping for this, and they need it to happen. There are many people out there who need this, like they need oxygen.

um this entire run is going to happen within the next three months and the reason for this is is that they can keep inflation under control in the u.s as long as gasoline prices are low this is a um the work that i've that i've figured out at this point is that in the current regime of the way our economies are operating in the post-covid world And again, this correlation may break down at some point. But as of right now, the United States CPI is a function almost completely of gasoline prices. So if you take a four-month rolling average of the CPI increases and you plot that against the wholesale price of gasoline, you get two curves that overlay on each other perfectly. And so inflation is down, but that gives Powell all the – and gasoline prices are down.

And that gives Powell all the arguments and all the ammunition to keep rates where they are. Hey, we're at full employment. Gas is cheap. People are going to work. They're still spending money on basic necessities. But the credit impulse is down. And the people who are screaming about all this, who need lower interest rates, are the ones whose assets are getting gored. So enter, for political reasons, they need to drop the price of oil to keep inflation low.

But then eventually supply and demand mismatches are going to exert themselves in Q1 or as late as Q2 of next year. This is why Putin is like, no, no, guys, we stay together. We cut production. We cut production. We cut production. We cut production. If you cut production and float your currencies, you can weather whatever storm they throw at us. And then we're going to get the opposite trade six, eight months from now when the entire world wakes up and realizes that we're in a five million barrel per day deficit in oil.

and oil goes from where they pushed it down to $40, $50 a barrel to $165, $180, $200. That is the judo move. Let them bomb the price of oil. Let them think they're in control. And then throw them. Judo. That's the direction.

They're going? Let them go that way and throw them on the ground. Aikido, judo, hapkido, I don't care. or pick a relatively soft martial art, and you'll understand the metaphor. Like, there's no better way of beating somebody at their game than by letting them think they're winning. This is how the Russians beat us in Ukraine.

Yep. They just slow rolled over and over again. Oh, yeah, we're incompetent. Let the neocons think the Russians don't know how to fight a war in eastern Ukraine. like they've been fighting over this land for 500 years a thousand years these people like they don't know how to fight a land war in Eastern Europe

so like this is like but let them think in their arrogance that they understand everything and then just let them keep playing their arrogance out until they sit there and they realize fuck them out of moves yeah the game's over

and that's what's happening right now in Ukraine and everybody's beginning to get beginning to realize that the only ones who won't give up on this all roads lead to london is they're desperately hoping that they can draw the whole thing out and get their war you know against to destroy the russians in 2025 or 2026 if they win the white house which is why every gop candidate is some you know some version of john mccain just you know either the you know either the nicki haley version or or whomever like they're all the same in that respect so what i would say

is, long story short, TLDR, you run this operation for as long as you can and you keep inflation low through most of the campaign. But it also allows Powell to keep interest rates as high as possible unless there's a credit crisis somewhere, which will probably show up. And now you've got to move to Europe and Japan just to figure out how this is all going to play out. But the reality is that from Putin, and Putin's charm tour was to tell them, we can weather this. Let them do their thing. De-peg your currencies, or get prepared

for it. The Chinese have got your back. We've got your back. We've got the infrastructure in place. We've got the swap lines in place. We've got the Asian development, or the Asian infrastructure investment bank. We've got the BRICS bank. We've got ways of ensuring that if you run into trouble,

we'll get out from underneath. And the only reason, in my mind, that they're even having to do any of this is because somewhere on someone's balance sheet there's an awful lot of u.s dollar denominated debt carried by somebody important within saudi arabia and the uae either saudi aramco like you know analogous to gazprom and rosneft in 2014 or you know just someone's some saudi prince or some you know emirati emirate has emir has like a crap ton of U.S. dollar denominated debt

that has to be either rolled over or hedged because if what I'm saying is correct then you can expect the Saudis to get sanctioned by the United States and cut out of the American banking system

or if it's a person who owes somebody billions of dollars that they get arrested or nuts and slots or whatever you know what I mean their assets frozen or however this works. It could be a person, Magnitsky Act style sanctions, could be a country,

could be anything. But someone's going to do something. Something is about to happen. Tom, do we know how much money the Saudis have at the Federal Reserve Bank? No, but I don't know. It's probably a lot.

It was between $700 and $800 billion. That much? That's a couple of years ago. I don't know. It might have increased since then. I mean, you know, they sold a lot of oil. They sold a whole lot of oil at a whole lot of profit.

It's a good question, Alex. I didn't know that the number was that big. No, no. A very, very significant number. And I thought that their whole really, really weird project of that city, you know, like at Neom, I thought that looks so stupid. They must be trying to get their money out of the Federal Reserve Bank under some global, you know great reset build

pretext so like hey we're doing all this we're going to need all these hundreds of billions of dollars and then launder it through some stupid project just to get it out of as much of it out from yeah the stupid project that looks like the great reset

itself like the thing that and Yuval Harari like you know do unmentionable stuff that only a CNN producer could get caught on a zoom call doing yeah that's the closest thing i can come to being like you know politically guys it's built back a hell of a lot worse yeah okay all right then how is this going to play out in europe actually no

actually no before that right one of the things i'm curious about is how does the israel gaza conflict fit into the larger global macro picture? Because I can see with Ukraine and Russia what the intention there was to destroy Russia. But with

Israel-Gaza? Like, how does that... I think the intent was to destroy Iran, Rich. I think the intent was to destroy Iran. Was? Yeah, was. And I think that it's not going to work. Well, you know, what did we see a couple of days

ago that they were sending a they were sending a carrier strike group into the persian gulf you know a magnet for a false flag gulf of tonkin something but then since then uh the russians and the chinese and the iranians i think announced uh naval naval exercises which i think is maybe a way to try to counteract that to preempt to preempt i don't know how you know i don't know how you would do that but you know you're not just going to let you know a sitting duck of a u.s carrier strike group sit there in the persian gulf waiting for you know yeah something to blow up and to say like eyes the iranians let's start world war three so i think that for the moment nothing happens i think that the conflict in israel is going to have to die down because

it's not going anywhere it's just they already gave it a deadline alex i think it was yesterday or today they the americans told bb that he needs to finish off by uh i think the end of january or something like that he's got a month or so yeah they gave him a deadline they told me he's very good at listening to the americans yeah that's they do have leverage they can't they can't uh make his life uh difficult if he if he disobeys and i'm sure they've got uh the runner up waiting in case uh who is it who is it effort it's hard to tell i i have my uh guesses but um um i would guess it would be someone from the left wing um like a former general like for example benny guns or for example um someone that is not currently in the in the roster of of um members

of parliament but will be put inside like a former general or something someone someone with an army background that's my guess but it would be a left wing one um i hear that one way i hear that one guido is available who one right now yeah he's available um soon zolensky is going to be available as well it didn't work out so now he's uh he needs a job got it got it alex is in fuego today yeah i i'm sure israel wants to end up like venezuela and you know gaza and i mean i'm seeing how we're ending up as the next ukraine but that's what they wanted but i don't think it's going to happen just like alex is saying i think they had an intention to take a take us to

a big war with iran and it looks like no one wants to play with the u.s like the u.s wants I don't think the U.S. military wants any of this. I think this is the part that everybody's missing, is that the U.S. is not a monolith. I described three different factions within Europe. There's five factions vying for power in the U.S. at this point. Wow. Two of them are actually American patriots, for lack of a better term. Most of them are not.

When I see the Biden administration, which I've always mapped to Obama, which then maps me back to Davos, COP26, all those people. I say to myself, oh, look, Bibi went off half-cocked on Gaza, and Biden got the call – he's a mushroom anyway – say, no, stop it, and then we're going to get rid of Bibi after he's made Israel unacceptable. Here's the thing. It's hard for you guys to understand because none of you are American, and I don't mean that as a pejorative, right, immensely. The internal weirdness of American politics is really important. Actually, it's not even that – I don't want you to be condescending. American politics is really murky. Like, I wouldn't presume to speak for Israeli politics anymore than I would speak for – I try to speak about British politics, and I usually get out over my skis.

But American politics, especially this year with the importance of the 2024 presidential election, is very – it's everything right now. So let me put a scenario in front of you. How do you get Gavin Newsom into the White House? How? That's a nightmare. Well, you've got to start by looking at what's going on in the American electorate. The center of the country regrets voting for Joe Biden. Yeah.

They've become hardened anti-war. They're becoming hardened anti-interventionists. They're tired of the inflation. They're going broke. Everything bad is happening to them. They see their Congress refuses to legislate. And when they do legislate, the money seems to go overseas and none of it is spent here. So you've got the emergence of what I would call a radical center coming in the United States, which basically says, fuck the world, America.

And I don't mean Trump per se, but Trump is the candidate that best represents that. On the other side of the coin, how do you invalidate the rest of the GOP in order to ensure that they're unacceptable so that Gavin Newsom looks like a viable option? oh by everybody by by having the gop come out in favor of genocide of palestinians for a fucking bb led bloodbath who in the hell what soccer mom in gain in gainesville florida or jacksonville or wichita or wherever is gonna vote for freaking all these people who came out and said yeah ben shapiro was right we should just we should just you know kill them all like god sorted out they do they literally turned everybody who was thinking about voting republican to get rid of these ungodly horrible five nieces who think who clearly at this point everybody looks at goes

these people are just traitors but how do you get them to not abreact and vote for the other party well you got to turn you got to then make everybody go i'm supporting these genocidal fuckwits oh no i didn't sign up for that either i got pedos on one side i got genocidal fuckwits on the other who do i vote who do i run with who do i vote for well that's interesting and then what happens is you get rid of biden and you put newsom in this place newsom runs on getting the united states out of syria okay backing off in ukraine making making a deal with china over making a deal with china over taiwan which was never ever ever going to be invaded it's all false that's all a false narrative too and the big one that just

popped into my head the other day thinking about this the tariffs how do you make trump you have to hang trump if he's going to be the nominee if they can't put him in jail your fallback plan I got hit Nikki Haley, who's an insane, who's insane is, you know, John McCain with, you know, you know, the Waffle House waitress version, or you got Donald Trump, who's the architect of stealing the Syrian oil and leaving our troops there. It doesn't matter that John Bolton and everybody else betrayed him. Trump is not Trump. One weakness is that he never backs down on anything that he put in place.

He still backs the vaccines. He'll be, he'll, he'll go. I can just see Donald Trump in this first debate with Gavin Grusome, and Grusome brings up Syria, and Trump, like, justifying it. And then the tariffs on China, which are the stumbling block. When Xi was in San Francisco, what's the one thing they didn't talk about in the news? The one issue between the United States and China. The big 800-pound gorilla in the room, the Trump tariffs. when they're not talking about it

that's all they talked about this is the way it's playing out for me I hope I'm wrong I really really do but man oh man how do you get Gavin Newsom in the White House well and it's interesting you get Nikki Haley and it's just as bad

as I said we said at the top of the show what do they always give us a Hobson's choice between two unacceptable people Nikki Haley Nikki Haley sounds positively certifiably insane She is. It's in the water in South Carolina, by the way.

No offense to South Carolina. They're lining up behind her. Okay, they're lining up behind her. Okay, so let's bring up Jamie Dimon. I was chatting with a friend of mine yesterday about this. And let's talk about Wall Street. Wall Street generally gives to both sides. But they generally, in New York, go 65-35 Democrat versus Republican.

And they generally all vote Democrat. The big ones. The Solomons, the Diamonds, whatnot. They're generally in the Democratic Party. For even, for Diamond, I didn't even catch this. Again, this took me a couple of weeks to process until a friend of mine finally just said it to me yesterday, like, look, Diamond came across, and the best he could do is he crossed the divide, the unbridgeable divide of, no, Wall Street is not going to back the Democratic

Party this time. You guys, it's okay to not give money to the Democrats. As a matter of fact, don't give money to the Democrats, because then they won't have the money to have a topic ticket run all the down the money for the down ballot races and all the rest of it even and at this point Nikki Haley is the one that they can best control even though she's crazy wouldn't wouldn't you wouldn't you put forward Nikki Haley because you want Gavin Newsom in the White House maybe but she's also a fall I think I think Diamond has resolved that Trump is going to be the the the nominee on the on the right and they can't

stop him i honestly think that within about two months we're going to figure out that they can't stop trump unless they put him in jail or shoot him well there's that conversation growing in the mainstream media in the west but they won't they won't kill they won't shoot trump until after the election they'll shoot him between november and the inauguration and they'll try and saddle him with somebody horrible so haley running for vp devak ramaswamy running for vp and the best thing trump can do is go completely off the board and his best choice at that point would be anybody anybody else and i could i mean the three of you would be a better choice i think i was thinking you tom no yeah no you don't want me as you don't want me as president no you used to

watch my old live streams rich you know exactly what i would do we're out of afghanistan now so i would have to update my okay vlad who who are the who are your spetsnaz gonna kill now as i live stream it at the inauguration no like you don't want you don't want my you don't want my roger waters version of of reality folks it it looks bad i like oh and i for two eyes and a little bit of scaring libertarian justice theory is not good as president you and trump you and trump in the white house that'd be so entertaining oh it would be hilarious are you kidding but no um i i'm not doing it i'm i i don't know i did remand my ass to guantanamo before that ever happen okay i have a date with being waterboarded like 18 ways from sunday you know it's a living

okay alex anything you want to say i don't take it yeah i want to say that that's right i was waiting to say something i just wanted to ask a silly question do you really believe all this politics bullshit of right and left and republicans and democrats i mean this is all very serious but in the end of the day are they not just puppets as well they are they are right so but but the the gop and the dnc are but they're but these are the vessels by which anybody is the bigger question is who's now behind them yes and manipulating things i think i think there are some very very powerful people in the united states right now working very hard to get control of things i think that we have reached kind of peak clown world and now we're trying to

okay this is as far as we're willing to go like everybody's looked into the abyss and went oh we're going to do that no no we're not doing it and then you've got to then figure out how to get there and because this is a big battleship it has to be turned around in a very small space and there are so many competing factions and there's so many there's this rich you know how what you know how hard it's been just brexit like how badly the civil service has undermined brexit and how you know like all of the competing factions and and and these people like you know You thought it was going to end when they finally get rid of Mark Sedwell. Well, guess what?

It got worse after they got rid of Sedwell. We thought he was the devil. And it's 10 times worse now than it ever was because they never stopped because these people get infinite at-bats. And the only way to really stop, to get this whole engine of corruption to stop is to make the dollar so goddamned expensive that it kills everybody's leverage and you wipe them all out. And that's why, I mean, look, the way the bond markets have traded over the last three weeks, if I were federal reserve chair, I would raise 50 basis points next week and put everybody on notice that I'm deadly fucking serious. Banks go raise capital, commercial real estate guys take the fucking losses.

We are done with this bullshit. America is for Americans. We're done with all that. Look, guys, there are new rules coming down the pike as far as how treasuries get repoed and all that stuff. It's all starting. There's a new market for U.S. treasuries. And it's all going to have to go through clearinghouses. And those clearinghouses are going to require 100% collateral.

And when that happens, all the rehypothecated bullshit that's been going on for years within the repo markets stops dead cold, just like Basel III and the gold coverage. Alex, I know you know about this stuff. right? The net funding ratio for gold, that gold will be a tier one capital asset and it's going to have to be backed by physical and it can't be backed by any rehypothecated assets. The same thing is coming for the treasury department, for US treasuries in repo transactions in the United States. So all those dollars that are being de-dollarized overseas are going to have a domestic sink heat sink to be dumped into to collateralize the new repo markets in the united states and that is what powell is trying to get us over the line towards implementing so far was the first

part and now that and now all of a sudden you know that there's it's a it's going to be a different world than we've then we've all lived through our entire lives and because of that these titanic changes the political stuff is the the the political air of desperation that we all can see and feel i mean we're all talking about it it's coming because these people can see this stuff coming a mile away and they're trying to wriggle out of the chinese finger traps that have been laid for them putin's done it with his relations in saudi arabia but you know we've seen it in all these different areas and they're all coming and if i'm wrong well i'm i am epically wrong okay okay tom i gotta say um before i go into my next question is this has been a fabulous

education for all of us really really great thank you so much i you know this is this i haven't done a lot of interviews recently rich so i'm like this this has been like laying this has been like laying out here over my head for like two weeks now and i'm like how much do i talk about because i gotta write an issue in a week and like oh i'm sorry guys i didn't i don't mean i hate to hog the microphone but unfortunately no no i think this is i mean this first time you and ever have had a conversation and then alex alex is coming in with some very pithy profound uh contributions every now and then that keeps it all rolling thank you so much alex great it's just really really great thank you really appreciate it now europe and the euro so the saudi d peg

oil price being crashed down well that's going to be good for europe it's going to be good for davos in Europe and the EU but the deep end of the dollar that's going to be chaotic for Europe I think from I don't have the sort of insight or the training or experience that you Tom have or you have Alex

how's it going to play out for Europe? Rich, I don't know. Europe is such a cesspool Oh sorry, and there's all these elections happening as well in Europe. It's

It's that it's I don't even get it. It's like Spain is slip sliding into a civil war. Germany is turning into like a total totalitarian nightmare. Italy is falling apart. We're being overrun by migrants. Ireland as well. I do a fair amount of coverage on Ireland. And Ireland is turning into a totalitarian dystopia as well.

ECB is, no, sorry, not ECB, European Commission, has lost all legitimacy. It doesn't seem to me that anybody cares anymore. You know, we're all supposed to be unquestionably, unquestioningly implementing East European Commission directives. Nobody cares, you know. The Polish farmers are blocking the border with Ukraine. I don't know what's going to happen, but it seems to me that we're going in a direction of a really, really ugly collapse, which I don't know when it's going to happen. Yeah, you know, all prices are going to go down, then it's going to go up again. They're printing the euros like there's no tomorrow.

They're raising interest rates also, which I don't know what they're thinking, but, you know, we're already on the way. And raising rates at the same time, Alex. They're doing yield curve control and raising rates at the same time. And preparing everyone for the digital euro. That also happened a month ago. Yeah, but I don't even think that's going to work out either. Yeah, me neither. They're just trying to normalize it.

Yeah. And, you know, they're not giving, you know, they're saying like, oh, you're going to have a choice between, you know, digital euro and the normal cash. They're not doing this because they're being kind of democratic and giving people a choice. They're doing it because they have absolutely no confidence that the whole thing is going to work at all. And I have full confidence that it isn't. Agreed. I mean, could you put more incompetent people in charge of like probably the most complex project that's ever been contemplated ever in history of the universe? It's, you know, we're tyranny of midwits, right?

The convocation of midwits running around, you know, running around. And this is the problem with midwits is that they think they're smart. I don't think these people think that they're smart. How could you? Well, I mean, you know, well, they've been given, they've been given enough, like they've been given enough participation trophies over the years and they've been given enough, and they've been given enough of, uh, you know, I mean, look at Arsola von der Leyen. Every time she fails, she gets a, she gets a promotion.

So why don't you just keep failing? I mean, where do you go from there? Like, you know, I mean, they're put in place because they're good soldiers. Yeah. The system of failing upwards, you know, people who are, who are subordinated to you, in this hierarchy know exactly the kind of wanker that you are when you when you're supposed to lead them and so when you when you when you sorry we lost tom hilarious wanker was the last word i was expecting to come out of your mouth i love it because he speaks so seriously and then he says

a word like wanker even though your mom is watching i'm so i am yeah yeah i'm so i love alex's delivery it's just fine no but you know i the the reason is that i'm i'm i'm really i'm profoundly frustrated about the fact that we're being led by people that you wouldn't elect even to to to run like a like a community football club yeah you wouldn't you wouldn't you know in croatia we said like you wouldn't you wouldn't let them uh keep three um paper paper cut cheap You know, these are the same people that you that you looked at running for student government going, yeah, OK, you want that job can happen. Yeah, but you wouldn't vote for them then. Like, it's the same thing. And, you know, the problem is they're in power because they were placed there.

They were given orders. They're very good order takers and they're very good implementers of what it is that they've been they've been told to do. and they don't they don't know how to improvise none of these people don't have any talent they don't have any conviction and it's their only way they're going to have any power by bending to the will of those that bribe them and control them well yeah but you know like that what kind of power is that when everybody you have to rely on to to implement these measures knows that you're a loser that you're incompetent and that you have no idea you know like everything you ever touched in your life turn into into excrement into dumb and now you're telling people we'll do this and do that and we're we're i don't know you know like it's it's it's like john kerry announcing

you know grandiose announcement that the united states is going to go off of coal that they're going to decommission all the all the coal power plants by what what was it 2035 it's like good luck with that good luck with that what is wrong with these people well because Because, Alex, again, I mean, I just wanted to say, like, when you only have one script, then you just stick to it. These people are your typical customer service, first-level customer service people. They have a script. They stick to it. They're just like Giannis Varoufakis said during the Greek debt crisis.

You go in there. You've got all these ideas. You present your all. You work your ass off for weeks trying to craft a solution that everybody can live with. and we're going to get, it's all going to work and we've got a plan and we want to pay you back and we want to do the right thing and blah, blah, blah, blah. And then you make your presentation and they look at you

like you just sung the Swedish national anthem. And then they go, so we're going to like fuck Greece and take the Parthenon, right? Right. Okay, good. And then we move on. Like that's, this is the world. And this is the world that they live in. And, you know, and the reason that they're so,

they're so caught up in this is because no one has ever finally just said to them, okay, it's time for you to go to the home. they don't believe that they don't have any power again cope 28 not cop 28 yeah but but you see the i see i see great danger in this because i don't understand what happens if if all this if all the power structures fail if they can no longer command you know like what happens if law and order breaks down and i'm on both gold and guillotines alex you know that yeah more authoritarianism more resistance sure what's happening you know and then they'll tell us and

then they'll and they'll gaslight us by telling us that donald trump will be the will be the authoritarian oh my god have you listened to have you listened to the to the the histrionics coming out of the american uh media about trump they're all on point if he gets elected he'll be a dictator he'll it'll be bad for people are gonna go to jail like no you're gonna go to jail it'll be bad for you won't be bad for me won't be bad for my wife won't be bad for you know my gaming buddies down in Gainesville won't be bad for the for the guy who who works the the new jockeys the register over at the gas station it'll be bad for you Joe Scarborough it'll be bad for you Lindsey Graham this one that one whoever it is Roy Behar and all the rest of them

they're the ones that will be that who will be destroyed they know that they are guilty of crimes against humanity the only thing they can do now is double down i hope they win because what's their option to admit that they were wrong to admit that they did what they did then they can then they go to jail do not pass go do not collect your 200 billion dollars right so you have to just keep fronting and hoping because you're they're like liars who have been caught in the lie so you just keep lying narcissists don't back down they double down OK, now bringing it to the European politicians and the European leaders and what you said earlier, Tom, about the how the Gaza-Israel conflict served to make the GOP unpalatable to the center. How do you see, and this could be any one of you, that playing out with the European body politic? Because I saw a little video of Keir Starmer. He was arriving in Glasgow.

oh my god the the reception that he got it's like it's like trudeau trudeau gets everywhere wherever he goes in canada this was now happening to starmer and it's it's fractured the labor party but the the tories aren't that different really so how is that destroyed the tories are just they're just controlled opposition the same thing with the gop in the united states is But what about for the European Union and the German government? I think you have a bigger problem in that. I saw something the other day, big news coming out, Poland. Poland's been buying gold like it's going out of style.

And the dumb take, the low information, the low quality take is that, oh, well, the Poles are buying gold in order to get to the level necessary to make the European Union's transition to a gold standard occur. I'm like, the guy from Gainesville Coins came up with this one, this howler the other day. I'm like, that is not why the Poles are buying gold. If you look at the European countries, the Eastern European countries were all traditionally buying gold. Hungary bought gold recently. Poland's buying a lot. Serbia buys a lot every day. It's the countries that all still have their own currencies.

So ones that aren't on the Euro. The Euro collapse is coming. The Poles are getting ready to leave The Polish central bank Is getting ready Is getting ready for political Chaos in Poland And

The breakup of the European Union Where We have after this election We still don't have a government Donald Tusk didn't Donald Tusk and the anti And the Davos coalition didn't get enough Law and justice didn't get enough

We've got a fractured and the people are saying we don't want either of you people. We want Poland for Poland and we're done with all of this. And, you know, look, the same thing happened in Turkey. Poland is in the same position that Turkey was in after

we blew apart Syria. Poland was promised Lvov, Lviv, Lvov, whatever, tomato, tomato, right? That portion of Ukraine when they won, when NATO won. That was their gift, just like Erdogan

was promised it'd live in a whole bunch of now and and all that but they had to take in a whole bunch of refugees from the war right erdogan took in three million refugees some he used them as blackmail and and leverage to get concessions out of the european union they strung him along they never gave him they never he never turkey never joined the eu well guess what poland's the same problem because they're already in the year and they didn't get their gibs and the british have left them out to hang and and and and it's clearly they're not if they're going to get their gibs it's going to come from putin not from the eu yeah and so now there's a lot of soul searching going on i think within the polish political you know soup for lack of a better term

it's like what are they going to do and someone is going to finally and it's the same thing that happened in the netherlands like your bottle was winning right and then we're gonna have like we've got state elections in germany coming what i i patron ping this to me a german patron ping this to me this morning said oh by the way tomorrow is the two-year anniversary of the formation of the current uh traffic light coalition in germany guess what happens at that point all the ministers get their pensions so if you want to know why christian lidner the the head of the fdp hasn't pulled out of the coalition because he's waiting to get his friggin pension

guaranteed. So it opens up the window that we could have a collapse of the... I don't know if it's like, I don't know if it's bullshit or it's not bullshit, but it's like it's just, it could literally come down to the individuals at the tops of these parties just waiting to get their thing.

And then, oh yeah, we're out of here. Yeah, because they can see the... And then because all you're waiting for is the next state election in Germany to go way against the current government. and then no bribe from Davos is big enough especially if there are bribes coming from somewhere else

i.e. from Wall Street and the question is who's got whose balance sheet reigns supreme for the bribes okay I want to say something not related to this question

because I have no idea what will happen in Europe when Alex said it right. But I do want to add to something you said, Alex, about the right people just taking orders. And one thing that I saw today, a journalist in Israel called Carolyn Glick, she exposed that there's a... This has been ongoing.

It's not new, but I think most people don't know this, not in Israel and not overseas, but retired major generals from the army in Israel when they retire they retire normally quite young like 45 to 50 let's say and they're used to receiving very high paychecks and a lot of you know driver a personal driver and like good conditions and all of a sudden they're unemployed And normally what happens, there's like this route that is designed for them to go and work in the US for some research institutes. And one of them could be the Martin Indyk Research Institute, the same Martin Indyk that worked for Bill Clinton and was receiving, and that specific research institute was receiving funding from Qatar. And these people then go back to Israel and, in a way, I would call this the deep state, right?

They would navigate Israel's, try to navigate Israel's policies under the liking of Martin Indyk Research Institute or the U.S. new boss that they have. And they're like former major generals, like they're highly respected people in Israel. and they would be funded by this foreign arm and they would, in a way, try to circumvent things in Israel to go a certain direction. And we're talking about thousands of people that are in this group of retired major generals. I mean, so I saw that video interview of Herz,

the journalist in Israel, talking about that and the fact that Qatar has funded this research institute And that is, to me, that is so interesting, because talking about people who follow orders, these are the best people that follow orders. And once they finish their army service, they, in a way, look for a new boss to keep their high standard of living, so they could continue, you know, getting those high wages and the comfortable life that they're used to. But this time it's not the Israeli army anymore or they may not have the best interest of the Israeli people at mind. Now they have a new boss overseas. So it's like the same boss that supports Hamas. That's amazing insight, Efren. That's this Qatar that you've been mentioning.

Is that that same Qatar that's been giving hundreds of millions of dollars to Hamas? And is that the same Qatar that today I saw, and I still need to check it out and verify all this information, but I saw today another article from a French magazine talking about Benjamin Netanyahu receiving funding from Qatar to sponsor the Likud party, his party, his right-wing party. I didn't know this, and I'm not sure whether this is correct or not. It needs to be validated. And the article is from the end of 2021. It's not new. So I need to go dig a little bit. But the Qatarians definitely have a very interesting role in this game.

Yes. From all sides. Yeah, exactly. Because, you know, also Qatar has uniquely for Middle Eastern countries, has a very they have a very deep uh relationship with the british government and the british defense establishment they share two air force bases in england where qatari pilots and british pilots train together on their on their typhoons or whatever jets they they are buying from from great britain and then you know today if you support hamas they haul your ass to prison

right in europe in germany and in france but qatar which has given hundreds of millions of i don't know like 300 million dollars a year 400 million dollars a year to hamas um they just got like what a month ago that they got a nine billion dollar loan from ubs or credit suisse whatever it was that's really funny how that works isn't it And isn't it also funny that one of the major players in the negotiations of returning the hostages, the kidnapped hostages, the Israeli ones from Gaza, were the Qatarians. They were the ones now, a major player in these negotiations. Like we go to them and ask for their help. They're not the only ones, but they're definitely one of the major ones helping bringing back the Israeli hostages.

um okay thank you for thank you it's tom you you may this is this is this is the part of the program where i sit back and listen because i don't stop and i'm this is no keep going okay carry on okay well look i'm gonna you know i think that what what is obvious here is that we have some kind of a uh very far out deep state agenda playing out where you know they're using qatar because what is qatar it's nothing right they're using them as the hub yeah for uh for these clandestine uh terrorist activities they're funding both sides huh you know divide and rule like let let let you and him fight you know that's the the same old deal you're you're funding both sides you have people inside both

structures that can they can they can pull the levers and press the switches and uh it it kind of reminds me a lot of uh you know the the way the way they used baku back in the early 90s uh when you know when they when they ran the whole you know jihadi network where bin laden was No, it was Richard Secord. It was General Richard Secord who set up a CIA front oil company in Baku in Azerbaijan, right? And then he also set up an airline, which secretly flew jihadis that Osama bin Laden recruited and trained in Afghanistan to then, you know, start these terror organizations that attacked Russia in Chechnya and in Dagestan. it sounds like it sounds like a very similar playbook except you know it's not baku this time it's a it's it's it's qatar qatar arabic sorry it's qatar in arabic because i worked there for four years i worked in qatar believe it or not yeah but anyway anyway i'm going to finish this

up right because um it's time it's with and i just really really appreciate each and every single one of you thank you thank you thank you thank you thank you thank you thank you any last quick last words from any of you i plan to i'm not suicidal i plan to live on many years i'm not ready to give out any last words yeah yeah you know i i know i haven't been around you know done a lot of media recently and it's not because i don't have it's not because i have information leading to the arrest of hillary fund so if uh anything for you and no i mean it's really good to be back on the interview set because i um i was refusing a lot of interviews in the last month because of the situation and and in light of the the new

regulations that have been put in place in israel to lower national morale and you know be the be be criminalized with incitement for talking against the country or whatever so I've been very careful and a lot of people have been arrested in Israel and there there are some really strict regulations in place now in light of the war I've been reporting on it on my sub stack so if you want to see what kind of new rules we have in place you can check it out I made like a list of seven and I'll give another update soon about stuff that is happening around Israel. But just one thing, if I can mention, that is happening. And to me, most people don't talk about it, but I pay attention. And this is quite strange for me, just in light of the recent

visit from Elon Musk to Israel. The Gaza envelope area, the same area that has been infiltrated and attacked on october 7th has been announced to become a green energy island right they're going to rebuild it back better uh now yeah greener and uh they have a program um to support renewable energies um to meet the climate goals of 2030 which israel is failing in and um they They basically said that alongside green energy production, water systems, and all this crap, like renewable, they're also going to make sure that this area has a solar field and infrastructure for charging electric vehicles. Surprise, surprise. Yeah. Musk has just visited.

Just to remind everybody that climate change is code for middle-class Americans for feeling bad about their colonial past. It's really not that hard. And, you know, that's all it is. When the truth of the matter is, is that it's just, you know, look to who doesn't produce hydrocarbons and then understand who's pushing this. And so, you know, it's the same thing that Alex and I have talked about forever. 2024 is going to be the year of collateral. Collateral is going to be the word. Alex and I have been talking about it together

for a couple of years now. It's going to be the, and oil is the collateral for everything, ultimately, because without oil, and, you know, there is no economy. There is none of this stuff. One of the things I want you to put in your head in all my crap spilling about,

you know, bombing the price of oil and taking out the Saudis and blah, blah, blah, blah, is that you watch who's buying the energy stocks that get beaten down during the next beatdown. And you'll have your answers to what's going on. But I can tell you flat out that if I were all of these climate engineers, the one thing I would be buying is Shell, Exxon, Chevron, this one, that one, because, of course, I'm getting them at stink bid prices.

Yep. Not hard. Mm-hmm. All right, folks. It was fun. It was very good to meet you. You too, Tom. I learned a lot.

Thank you so much. This is what I do. I'm not sure if any of it's right. I just work shit at the wall and then we see what happens. Tom, you have a great track record. I do. But I could also, but I also, I miss a lot. But in order to hit, you got to be willing to miss.

Yeah. I guess we have to do another one just on gold and Bitcoin because I'm curious to hear from you about that don't get him sold but that's a whole other that's next time, bear assets the euro collateral, Bitcoin's collateral

so is gold, so is oil if you can hold on for a few minutes afterwards, I want to create a word with you Alex, Tom, thank you all very very much thank you everybody for watching this will go out recorded like I said I'll have the links to Tom's tomluonga.me, Alex Cranor

Naked Hedgie and Trent Compass, and Efrat Substack and her Twitter. Really, really appreciate it. And between now and when I see you next, please keep remembering that the Great Reset will fail and fill your pockets with peace and freedom. Crypto Rich, Crypto Alex, Crypto Tom, and Crypto Efrat signing out. All the best. Bye-bye. Thanks, Rich.

Bye-bye. Bye-bye.