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“We’re on the cusp of both a civil warfare or World Warfare III. We don’t should go there, however that’s what we’re dealing with as very actual dangers,” warns Kevin Freeman, host of Financial Warfare Room. Within the dialog with Daniela Cambone, Freeman lays out 5 simple truths from his e book “Pirate Cash.,” together with our perilous nationwide debt and the fading dominance of the U.S. greenback. “The forex has a date and an expiration date on it… different nations are working towards that finish as we communicate.” He additionally advises each particular person to have the choice of getting transactional gold and silver along with their bodily holdings of U.S. {dollars} within the financial institution.
TRANSCRIPT FROM VIDEO:
00:00
Inflation creates a wealth hole. How far are we from revolution breaking out, from riots breaking out over it? When we now have produced extra cash relative to the expansion of the financial system, you have got inflation. That’s a backside line.
00:13
Financial fact, one of many results of leaving the gold customary in 1971 is the financialization of our financial system. We was a primarily manufacturing nation. You hear the time period nice reset. Oh, that’s only a conspiracy concept from conservatives. No, Klaus Schwab, the pinnacle of the World Financial Discussion board, is describing why we will need to have an excellent reset. You may go to World Financial Discussion board and take a look at their movies. It’s the yr 2030. And also you personal nothing in your own home.
00:43
completely satisfied about it. There are not any actual borders. America isn’t a pacesetter. It’s only one nation amongst many countries. It’s a superb future, they suppose, that they’re going to use to the remainder of us, whether or not we prefer it or not. I’m the one who helped educate the Pentagon how one can use financial weapons. Central Financial institution digital currencies is a gigantic a part of making that occur. Are you optimistic that we are able to all stand up and say, we don’t, we don’t need it? They may completely benefit from a disaster as soon as created. We noticed that with
01:13
you
01:20
Hello, that is Daniela Cambone and welcome again to the Daniela Cambone present right here on ITM Buying and selling. Nicely in the present day, my visitor is sounding the alarm on America’s ballooning nationwide debt, which now nears a staggering 35 trillion. He says the nation is weeding into fiscal quicksand and there are 5 simple truths we should find out about. So please welcome to the present Kevin Freeman.
01:46
He’s thought of one of many world’s main consultants on monetary terrorism and financial warfare. He has written extensively on the topic, together with his bestseller, Pirate Cash. He’s additionally the host of Financial Warfare Room, which you could find on economicwarroom.com. Kevin, how’s that for an intro? Welcome to the present. Good to fulfill you. Good to fulfill you, Daniela. Thanks for having me. Yeah. Nicely, I imply, I learn with nice curiosity Pirate Cash and…
02:13
I mentioned, you understand, we simply should have Kevin on the present. Though, I imply, your warning is sort of dire. I imply, you discuss in regards to the nationwide debt extensively. You say within the first 221 years of our nation, we gathered 10 trillion of borrowed debt. Within the final 15, we’ve added virtually 25 trillion, and the tempo is accelerating. You name it a monster out of a sci-fi film, and mainly, see no method out.
02:41
Nicely, I do see a method out, however you’re proper. If America is an empire, and lots of people suppose and wish America to behave as an empire, empires final between 200 and 250 years on common. And so America’s nearing the top of its empire standing. I don’t need America to be an empire. I would like America to be a group of states working underneath the USA Structure as our founders supposed. That, I consider, is the way in which out. But when we keep on this path the place we’re the empire of the world, no, we’re doomed.
03:11
So that you say there’s 5 simple truths that we should find out about, proper? So in case you don’t thoughts, I’d love so that you can stroll us by way of them, proper? The one, the primary one being centered round nationwide debt. So discuss to us about them.
03:30
Yeah, undeniably, undeniably, the very fact is we now have $35 trillion in debt. I wrote the e book Pirate Cash that you simply referenced, you mentioned you’d learn. In Pirate Cash, it was on June twenty fourth of 2023, I appeared on the complete U.S. federal debt, and it was $32 trillion. It’s gone up $2.5 trillion simply since final June. That’s unsustainable. So, the primary simple fact is our debt path is unsustainable.
04:00
Jerome Powell, the pinnacle of the Federal Reserve, says, what’s our debt path? It’s unsustainable. Mr. Powell, they ask, you understand, within the Senate, they mentioned, Mr. Powell, what’s our debt path like? He mentioned, it’s unsustainable. Nicely, are you simply now coming to that conclusion? He mentioned, no. It’s a historic truth. It’s an trustworthy truth. We’re taking a look at it. We can’t proceed on this debt path. That’s the first simple fact. Workplace of Administration and Finances says it. So does the Congressional Finances Workplace.
04:29
each economist on the earth value their salt. So what do you say the counterpoint? As a result of I’ve had, you understand, consultants on the flip aspect saying, look, if America actually needed to wipe out their debt, they might. There’s sufficient tax cash coming in, like CPAs drawing the charts for me. I imply, I nonetheless don’t consider it as a result of I feel the numbers simply insane. I imply, what’s your response to that? I imply, may America deal with it?
04:55
Nicely, all proper, so now you’re speaking about elevating taxes. Politically, is that potential? Otherwise you’re reducing Social Safety and Medicare. Politically, is that potential? I imply, simply Social Safety and Medicare, based on the Congressional Finances Workplace, will add $100 trillion to our debt over the following 30 years. That’s simply truth. The truth is, not solely that, however you take a look at a Heritage Basis that put out the Each day Sign, they usually mentioned in case you took simply the obligatory spending in Congress, simply the obligatory spending,
05:24
all current tax revenues. Obligatory spending would come with curiosity on the debt, Medicare, Social Safety, prescription drug advantages, the issues that we’ve promised individuals and are already written into the legislation. So do we now have the political will to make these adjustments? Would we make these adjustments with out some kind of economic disaster? It doesn’t matter what you say, the underside line fact is the debt path we’re on is unsustainable. You’ll both should make main adjustments by, and I wrote a report on this for the State of Utah.
05:54
It’s important to drastically minimize spending, which proper now would imply that you simply’d have to chop that obligatory spending. You’d should drastically improve taxes, which might influence the financial system, gradual the financial system and so forth. Or it’s important to face the very fact it’s unsustainable.
06:11
Okay. Your second fact forex underneath say siege by different nations. You’re referring to the bricks, proper? Which brings up a debate of, you understand, whether or not, you understand, the bricks have advantage or not. They’re international locations maintain being added to the bricks nations. Um, so at one level or are they already for you a significant risk?
06:33
Yeah, all proper. So in 2008, I used to be working within the Pentagon. I used to be a marketing consultant and I used to be telling admirals and generals that the BRICS had been fashioned and it was not only a Goldman Sachs funding concept. I imply, on the time it was being bought to us like Fang or the explanation AI shares. Oh, BRICS, that is the brand new place we are able to make investments. And I mentioned, no, the origin of BRICS comes from Vladimir Putin himself. I’ve confirmed them the unique writings that mentioned that he was going to carry out a coalition of countries that have been rising nations.
07:03
that might in the end problem the greenback as their main goal. Now the Chinese language didn’t become involved actually with that goal till Xi Jinping got here to energy in 2013, after which different nations didn’t come on board till extra lately. However the truth of the matter is that the greenback is turning into much less and fewer fascinating to overseas nations, both as a result of they’re against our insurance policies, or as a result of they see our financial scenario, or they see what Elon Musk mentioned, which was very clear.
07:33
your forex sufficient instances different international locations will cease utilizing it. So simply think about Putin going to India, who’s an ally. And India says, properly, we’re allies of America. We’ll use the US greenback. We don’t must do the rest. And he says, properly, you understand, throughout World Warfare II, the allies of America included China and the Soviet Union. And the enemies of America have been Germany and Japan. Issues change. And by the way in which, they simply took our stuff once they sanctioned us over Ukraine. How are you aware they received’t take it?
08:03
your stuff to India in case you don’t toe the road based on no matter coverage Washington has. So India says, you understand, you’re proper. There’s no purpose that after I do commerce with China or with Brazil or some other nation that I’ve to change my forex for U.S. {dollars} after which change it again after we do the commerce again into my forex. Why not simply do inter-currency exchanges?
08:27
That’s a really logical argument. It has much less friction. Over time, it’s going to carry weight. Folks will not put their reserves in US {dollars} completely. Once I began speaking within the Pentagon, China held 10% of our excellent overseas debt. In the present day, that quantity is approaching 2%. It’s fallen under 3% and it’s headed in direction of 2%.
08:48
Different nations don’t intend to proceed financing our debt. And also you return to level primary, we’re gonna want some huge cash, 100 trillion over the following 30 years, along with the debt that we now have in the present day. So sure, different international locations are focusing on our forex and say, we may change this with a digital yuan, or we may change it with simply exchanging between our currencies. Each, most arguments towards this concern are, yeah, I do know the greenback’s unhealthy, it’s weak, however it’s the cleanest soiled shirt in the long term.
09:18
Nicely, in some unspecified time in the future you decide up the shirt, it smells too unhealthy, you’ll be able to’t even put on that. Sooner or later, even the husband whose spouse’s been away for 3 months, I can’t put on this anymore, it’s disgusting, it’s tearing. So in some unspecified time in the future, the greenback will go down. I’m not saying it’s going to occur in the present day, this yr, subsequent yr. However no reserve forex lasts eternally. That’s only a truth of life. And anyone who believes the parable of greenback permanence is fooling themselves. The forex has a date.
09:48
and an expiration date on it. I don’t know precisely when it’s going to not be the first reserve forex of the world, however different nations are working towards that finish as we communicate. Once you say you don’t have a timeline, I imply, would you be shocked if it occurred throughout the subsequent 10 years? No.
10:08
And in reality, Heminway wrote, perhaps it was within the Previous Menacee, there’s a well-known Heminway quote, how does one go broke? And the reply could be very slowly than all of sudden. And that’s what’s going to occur to the USA. We’ll have a foul, actually unhealthy Treasury bond public sale, actually unhealthy. And unexpectedly individuals will panic. All monetary panics begin that method. And as Jamie Dimon famously lately mentioned, it all the time feels good till the crash. Let me ask you this, Kevin.
10:37
What in regards to the argument that, okay, the BRICS is a superb idea and philosophy, however on the finish of the day, you’re by no means going to get China and Russia to agree on a typical forex. I imply, they’re going to be vying to be on the high, and I’ll most likely add India in there. How are you going to get them to agree? Nicely,
11:02
Primary, finally individuals can come to settlement. We didn’t anticipate a euro would ever occur, however now we now have a euro, they usually have been super enemies preventing, France and Germany, for instance, two of the most important within the European Union, and now they’ve a typical forex. So it may occur. You may’t say it may by no means occur. However quantity two, proper now they’re working with a typical enemy or a typical adversary. And so it doesn’t imply that they should succeed
11:32
changing the greenback with their forex, it simply implies that they’re undermining the greenback because the universally accepted forex. And we’ve lived underneath that exorbitant privilege since Bretton Woods again after World Warfare II and even after Nixon took us off the gold customary. Kevin, earlier than we transfer on to level three, only one thing more I wanna deliver up. I imply, the USA have to be, clearly the federal government is conscious, proper?
12:01
and seeing that the BRICS is rising, they’re discuss of a unified forex, what may very well be the counter enjoying card that the US may use to cease it?
12:11
Nicely, we use diplomacy. We use navy energy. You recognize, there are some individuals, I’m unsure I consider all of this, however each time the greenback’s been challenged, like by Gaddafi, then the USA finds a technique to undermine Libya. And, you understand, we now have to take away Gaddafi. The one dictator of the world who gave up nuclear weapons after we requested for, requested him to do it, you understand, and he’s gone. I don’t know if that’s conspiracy concept is true or not.
12:41
and we’ll use it to take care of as a lot authority as we are able to. The issue is, is that we’re abusing that authority within the minds of many different nations. And so each time we use an financial weapon, and by all means, I’m the one who helped educate the Pentagon how one can use financial weapons. I used to be the first financial warfare marketing consultant for teams throughout the Pentagon, together with the Protection Intelligence Company and others, and I used to be telling them, hey, look, these are highly effective weapons, however you’ll be able to’t abuse them.
13:11
them. And each time we flip round and throw one other sanction on, the opposite nations begin to be taught from it. So our sanctions have been much less efficient towards Vladimir Putin than we anticipated them to be within the Ukraine warfare. A part of it’s as a result of he knew to construct up gold shares. And so The Economist journal and others have been speaking about how the gold provide in Russia has been their counterbalance to American sanctions. Backside line is, we’ll use our
13:41
And we might want to gracefully discover methods to reduce using it in order that we’re not abusing it and inflicting extra anger by different nations. Plain fact quantity three revolves round inflation. We heard it from Powell himself. It’s nowhere close to underneath management. Kevin, your ideas.
14:04
Yeah, properly, inflation and the cancel on impact. And I quote a French economist from the 1750s who wrote, mainly, I’ll summarize it. He mentioned, in case you’re near the King of France and he’s producing plenty of cash, you’ll have a tendency to profit greater than those that are additional away from that. And that’s true. So it’s true in the USA. We produce some huge cash in Washington and New York. And people who find themselves near dwell in Washington and New York, they discover plenty of advantages.
14:33
I had a good friend who was the automobile seller for 21 automobile dealerships in Washington, D.C. And so each time there was a brand new administration, individuals would come to down, they’d promote automobiles. They didn’t haggle over the worth. They purchased them at full value. Cash is flowing in Washington. However you get additional away from it, and that cash doesn’t stream as freely. That creates a wealth hole. Inflation creates a wealth hole. When we now have produced extra cash relative to the expansion of the financial system, you have got inflation.
15:03
That’s a backside line financial fact. It doesn’t present up all of sudden essentially. It doesn’t present up linearly, nevertheless it does finally present up. And also you create more cash than you have got. So you’ll be able to return to 1971, after we left the gold customary. You take a look at the debt that elevated from August 1971 to the current, and you then take a look at this client value index from the Federal Reserve, and the charts match up virtually completely, virtually a precise correlation.
15:31
Extra cash manufacturing creates inflation. Inflation harms the poor greater than it harms the rich, as a result of the rich should purchase belongings and defend themselves. They’ll hedge. They’ll do every kind of issues in an inflationary setting that the common particular person can’t do. Wages don’t transfer linearly with the inflation price. So backside line is, is that when you have got extreme inflation, which that they had in France within the 1750s and 1760s and 1770s,
16:01
it will definitely results in destabilization just like the French Revolution. So you have got Marie Antoinette saying, allow them to eat cake. Peasants don’t have any bread. Nicely, allow them to eat cake. After which you have got the pinnacle of Kellogg’s cereal come out lately and mentioned, you understand, you’ll be able to eat cereal for dinner as a result of it’s possible you’ll not be capable of afford the complete meals that you simply’ve had. So cereal is an effective choice. It truly is smacking of this within the heartland of America. Inflation is hurting actual individuals in actual methods.
16:31
is resulting in a wealth hole and destabilization. So at what level are we at? I imply, how far are we from revolution breaking out, from riots breaking out?
16:47
Nicely, we had riots occur through the pandemic, proper? So we had riots. I don’t know what sparks them. I can let you know from an financial warfare perspective, the Chinese language wrote a e book titled Unrestricted Warfare. It was revealed in 1999 by two senior colonels. So I’m going again to what I do know, which is financial warfare, they usually checklist avenue riots and the political disaster as their main finish recreation weapons for tearing down America in the event that they wish to
17:16
undercut America’s financial power for no matter purpose. So are they prepared to arrange to do this? Nicely, I don’t know. If we go right into a warfare or battle over Taiwan, if we get right into a commerce warfare, or if we get right into a warfare, these are weapons that they intend to make use of. So how do you get a avenue riot? You spark it. It’s a flame. How does it occur within the Center East? Bear in mind after we had the Arab Spring? That occurred over meals inflation. That’s what the start was. And you’ll go all through historical past and you could find that in case you have large meals inflation
17:46
individuals can’t afford to eat. That’s when you have got rights. How shut are we? I don’t know, it may occur this summer time. It depends upon what occurs within the financial system. It depends upon if individuals really feel they’ve a voice. It depends upon the election. A number of issues will spark these clashes of civilization and tradition, however the common American is feeling pinched they usually really feel like they’re dropping the American dream. Sooner or later, they are going to be able to riot. And that’s what individuals are nervous about. That may be a critical concern of the institution.
18:16
I wish to transfer on to level 4, however first you simply, you understand, you consider so lots of the factors I wish to simply decide your mind on. I imply, if you talked about the election, do you suppose financial system would be the important card to be performed, the highest of thoughts, or is it immigration? Is it, you understand, the warfare within the Center East? Is it financial system for you you suppose that’s going to actually determine the winner of the election?
18:43
Most elections are outlined, as Invoice Clinton mentioned, it’s the financial system, silly. And also you take into accout when that election occurred and we had Saddam Hussein enter Kuwait and George H.W. Bush was highly regarded, tremendous excessive reputation, however he appeared out of contact with the financial system. Bear in mind, he went to a grocery retailer and didn’t know the way a scanner labored and that basically damage him with the individuals. So ultimately, the financial system issues. However immigration is an financial matter.
19:13
Think about you’re in a much less prosperous neighborhood and also you’re discovering that you simply’re dropping your job to somebody who lately got here throughout the border. You’re going to be upset about that. Or think about that the inflation that you simply’re feeling is as a result of we’re sending some huge cash over to the Ukraine, which you don’t perceive precisely why we have to defend the Ukrainian border, however we’re not defending the American border. So that you get annoyed and upset. Why? As a result of it’s hitting you economically.
19:43
In case you’re very well off, these points don’t matter to you. The truth is, in case you do a ballot of how vital Ukraine is, simply do a stratification primarily based on revenue of the person you’re polling. I assure you these on the larger revenue ranges will on the whole say, oh no, we now have to struggle in Ukraine. We’ve acquired to cease this bully Putin. You begin speaking to people who find themselves dropping their jobs or paying an excessive amount of for dinner. They go to McDonald’s and it prices them $20 as a substitute of $6. Rapidly these individuals are going to say, why on the earth are we
20:13
sending billions of {dollars} over there. That is unnecessary to me. It’s all economics at some stage. And to your level, Kevin, there’s simply such a big disconnect now, proper? It’s like what occurred? Like, you understand, many individuals have pointed on the market’s there’s actually no extra center class, proper? They’ve pushed the center class out.
20:32
Yeah, no, the Pew Analysis Middle has carried out examine on this, and this is without doubt one of the results of leaving the gold customary in 1971. It’s the financialization of our financial system. We was a primarily manufacturing nation, however after we unleashed our cash provide from any semblance of a gold customary as much as 1971, for each greenback that was produced, 40% needed to be held in gold. We unleashed from that, and after we separated from that, we began to financialize every little thing. That’s when all of the derivatives
21:02
So we’re speaking quadrillions in spinoff publicity, and it’s all gonna settle out someplace in a roundabout way, however we’re now making a living off cash slightly than making a living off manufacturing, which works again to the Cantillon impact, which in case you’re near the cash provide creation, you may make cash off cash. In case you’re additional away, it’s important to make issues and make stuff, and this financial system is geared to profit those that financialize it slightly than those that manufacture it. Precisely.
21:32
Okay, let’s get to level 4. It is a subject we cowl in depth central financial institution digital currencies You say governments weaponizing forex by way of CBDCs is coming, you understand It’s fascinating Kevin how just some years in the past central financial institution digital currencies in case you spoke about it’s prefer it’s a conspiracy concept By no means gonna occur after which take a look at the place we’re in the present day
21:52
you understand, all of the heads of state brazenly speaking about it, proper? Christine Lagarde popping out with a New Yr’s message saying, we are able to’t wait to usher within the digital period of the euro. So discuss to me about your ideas on central financial institution digital currencies, the risks you see, and the way far we…
22:10
How distant are we from this actuality? Okay, CBDC, why I say that is an simple fact is as a result of the digital Yuan exists. The Chinese language have weaponized their forex already with the aim of this. However you transcend that and also you see 110 nations or one thing are creating some model of it. Some will succeed, some will fail, some are a joke, some are actual. President Biden, in March of 2022, issued Government Order 14067.
22:40
32 pages I feel or 37 pages in size. You may learn it, it’s a fairly straightforward to learn order. And it’s acquired a really benign subject identify to it. The subject identify is one thing like a examine on digital currencies. However if you learn the order, it requires that folks start to check how one can implement a digital forex that can have some parts to it. Elements like range, fairness, and inclusion, and ESG.
23:10
Issues that among the many rich appear widespread and good issues, however you exit once more to the heartland of America they usually say, wait a minute, I don’t perceive why you’re implementing these insurance policies which can be hurting us. For instance, Mississippi is suing BlackRock for fraud as a result of they’re implementing ESG and DEI. These are issues which can be inherent in central financial institution digital currencies. The fantastic thing about them based on the individuals creating them
23:40
what individuals do with their cash. So once they had the G20 summit final September, I consider it was.
23:48
on the G20 summit, that they had a spokesperson come out and say, inform us what you introduced for us. What’s it gonna imply? And she or he actually fortunately, on Indian tv, defined, properly, it’s so thrilling. Think about, I’ve had two cups of espresso within the morning, I ended by the espresso store and I purchased two cups of espresso and I am going within the afternoon and I wanna sit down and I wanna purchase a 3rd cup, however my digital cash is aware of I’ve already had an excessive amount of caffeine that day and it denies me the power to purchase caffeine.
24:18
I may very well be minimize off for my very own good, isn’t that great? These are the identical individuals in New York who mentioned, go Mayor Bloomberg, I solely need 16 ounces of soda, don’t let me get refills. That is the nanny state the place you don’t personal the cash, the place the central financial institution or the issuing financial institution owns the cash they usually management it. It’s completely different from digital forex. All the pieces we do is just about digital in the present day. Proper, proper. However that is completely different and I had the reason, that is like each time you utilize your dev,
24:48
It has your fingerprint on it, they usually know precisely who’s spending, the place spending, what they’re spending on, what they’ve already spent on, what they’re going to spend on. And they also may restrict. You’ve a gas-powered automobile? Danielle, you’re not alleged to have a gas-powered automobile. You may solely have 20 gallons of fuel a month, and your card will cease you. Once you hit 20 gallons, it’ll shut off. That is the power for presidency to take management. The issue is, is that not all of the American individuals consider in the very same beliefs that
25:18
That’s why you see a lawsuit popping out of Mississippi towards BlackRock. You see Texas saying, hey, cease implementing your anti-fossil gas applications right here as a result of Texas is an power state. You see a pushback, however the federal authorities, central authorities, central financial institution, digital forex will likely be one sided to implement similar to it’s in China with the social credit score scores that they’ve utilized to the digital yuan. Precisely. And thanks for highlighting that.
25:45
distinction if you get the pushback. Nicely, you have been already utilizing debit playing cards and visas, nevertheless it’s by no means the identical factor. Do you suppose that they should create a disaster? I imply, we frequently hear consultants saying they are going to create a disaster that can then usher within the central financial institution digital currencies, or do you suppose they’ll do it regardless, that that is the trail we’re on? Nicely, each.
26:10
I don’t know that they suppose they should. A disaster is inevitable. That was our level primary. We’re going to run right into a debt disaster. And you understand, you hear the time period nice reset. And any person lately mentioned, oh, that’s only a conspiracy concept from conservatives. No, Klaus Schwab, the pinnacle of the World Financial Discussion board, you understand, in his thick accent is describing why with the pandemic, we will need to have an excellent reset. And he says it himself and he defines what nice reset is.
26:40
financial discussion board and take a look at their movies. It’s a yr 2030 and also you personal nothing and also you’re completely satisfied about it. There are not any actual borders. America isn’t a pacesetter. It’s only a one nation amongst many countries. You’re going to eat an entire lot much less meat. We’re going to 3D print organs for you. It’s a superb future they suppose that they’re going to use to the remainder of us whether or not we prefer it or not. And so central financial institution digital currencies is a gigantic a part of making that occur. There will likely be a disaster fina-
27:10
could have a run on banks like Silicon Valley Financial institution or no matter. There’s going to be a fiscal disaster the place it’s inevitable or they might manufacture a disaster. And I’m not going to accuse individuals of producing a disaster, however I’ll say they are going to completely benefit from a disaster as soon as created. We noticed that with the pandemic. Do we now have the likelihood to cease it? If individuals get up to the risks of a central financial institution digital forex?
27:39
Are you optimistic that we are able to all stand up and say, we don’t need it?
27:46
Nicely, I feel it’s totally potential, however I wouldn’t guess my whole future on that occuring naturally. I feel individuals will complain about it. There will likely be pushback. There was an entire lot of pushback on quite a lot of liberty challenges, together with, you understand, I don’t care which aspect of the debates you’re on. The truth of it’s there was a vaccine mandate. Everyone needed to take it. After which there was a pushback and the pushback was efficient. So it doesn’t matter the place you’re. Sure, individuals can get up and lift their voice.
28:15
doesn’t assure, nonetheless, simply because they do this, that they’ll be efficient. That’s why I wrote the e book Pirate Cash, which works to level quantity 5. Plain fact quantity 5 is cash is altering. It’s modified a number of instances and a number of methods, and it’ll change much more sooner or later. And, properly, I don’t know, do you wanna go in additional depth on level 5 earlier than we discuss gold and silver?
28:40
Oh yeah, I’d like to say I’ve acquired, I’ve purchased as collectibles, I’ve purchased giant print {dollars} that was this large that have been issued by particular person states. I’ve acquired forex, American forex courting again to 1776, a continental observe. I’ve acquired a Spanish mill greenback. I’ve acquired gold cash. I’ve acquired a Financial institution of Kentucky 12 and a half cent observe. All of those are the historical past of cash. It’s
29:10
methods. Now you’ll be able to take your telephone and you may faucet to pay for one thing. Like I went and purchased our gasoline on the pump and I simply, really I simply took my Apple watch and I tapped my Apple watch up there and I stuffed the tank with fuel. You may Venmo and Zelle and PayPal. Cash is altering in a number of methods and it’ll proceed to alter. That’s an absolute truth. It’s simple fact and it’s both going to alter to central financial institution digital forex or it’s going to alter to one thing else or a mixture of issues. I’m hoping for a minimum of one.
29:40
least a mixture of issues. In your e book, Pirate Cash, you define a path ahead that might see gold and silver turn out to be not simply beneficial commodities, however sensible on a regular basis forex, shielding residents from the results of a possible financial collapse. Discuss to me about the way you see gold and silver as, can I say, the final word resolution, the one resolution?
30:06
Nicely, I’d say it’s the one constitutional resolution we now have to the mess that we’re in. Again in 1776, I’ve a Philadelphia printed continental observe that claims that Bearer is entitled to change this for 4 Spanish milled {dollars}, which have been silver,.7734 troy ounces of silver, or the worth thereof in gold and silver. The issue was they didn’t have any gold and silver behind it, and so Washington’s
30:36
footwear. They have been freezing as a result of Washington himself mentioned all this printed cash, a wagon load stuffed with continental notes, wouldn’t purchase a wagon stuffed with provides as a result of there was nothing behind it. So, gold and silver turned then, after we left that and the Orders of Confederation, we went to the Structure and the founders mentioned, we’re going to make actual cash, a greenback. And once they mentioned a greenback, they didn’t imply a bit of paper with George Washington.
31:06
image on it. They meant a Spanish milled greenback, an actual piece of silver that may very well be minimize up into eight slices, pie-shaped wedges often called Items of Eight.
31:17
they usually talked about silver cash and gold cash they usually meant Spanish mill {dollars} or items of eight and the gold cash have been often called doubloons, one other Spanish time period. And in case you hear gold doubloons and silver items of eight, you suppose pirate cash. So I wrote the e book Pirate Cash to offer us the reply from the Structure, Article I, Part 10.
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The founders hated paper cash. Jefferson mentioned paper is poverty. Washington mentioned paper has had the impact it’ll all the time have. It’ll wreck your commerce. It’ll destroy your state. Even the founding father, Alexander Hamilton, the financial institution, the primary financial institution, first treasury secretary, he mentioned paper is horrible. Even the daddy of the Structure, James Madison, mentioned paper cash is unconstitutional. Nicely, that’s what we’re left with
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paper cash, however within the Structure they mentioned the one authorized tender needs to be gold and silver cash. It says a state could make nothing apart from gold and silver cash authorized tender. The issue is, isn’t many individuals have gold doubloons and silver items of eight, and even underneath the coinage act of 1857, those that are outlawed for use as forex, however they don’t have American eagle $20 items. Folks can’t actually dwell and spend cash with gold and silver cash.
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concept of the founders in 1830s the Financial institution of Kentucky would take these gold and silver cash on deposit and difficulty out certificates notes that have been backed by actual gold and silver challenged within the Supreme Court docket in a case referred to as Briscoe versus Financial institution of Kentucky in 1837 they usually issued them they usually traded like forex and the courtroom mentioned so long as you even have the gold and silver and maintain it and by no means fractionalize it by no means lend it out you’ll be able to have that as
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simply took that, turned it digital, simply slapped a debit card or an digital technique of change on high of an current gold and silver provide like Texas has within the Texas gold within the Texas bullion depository. So I may go to Texas and I may say, hey, I would like you to carry $10,000 value of gold, which is rather less than 5 ounces, and I would like you to maintain it there within the type of gold. I don’t need you to lend it to anyone. I don’t need you to do something with it besides maintain on to it.
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it till you obtain digital instruction from me to switch it from me to the grocery store. And on the grocery store, they’ve a alternative. They may both take it within the type of gold or they might have it transformed to U.S. {dollars} they usually may very well be paid in money. And what if we added to that know-how functionality to the place the bullion depository may really purchase gold in your behalf and promote gold in your behalf on the smallest potential market, perhaps a half %? Nicely, guess what?
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in the present day. Kevin, so if you’re speaking these cash, I imply, is that this completely different than pre 1933s? Sure, properly, I’ve acquired some pre 1933 cash, which is fairly cool. Everyone ought to have some bodily gold and silver. Proper, so I ask you, do you personal these as a result of are you involved in regards to the threat of confiscation? Do you see gold confiscation coming again in the future?
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Nicely, I suppose it may, however in case you learn the confiscation order, you understand, the humorous factor is individuals speak about that on a regular basis and I determine I’m going to sit down down and skim the chief order from FDR and see what he mentioned. What he mentioned was primarily this, individuals are hoarding gold they usually’re not transacting in it, they’re not spending it. And since they’re hoarding gold and holding onto gold, it’s hurting our financial system. And that might be true. If all people took each dime they earned and put it in gold and buried it in a secure, the
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However what we’re speaking about is making gold transactional. However we’re not doing it, the e book Pirate Cash argues that it needs to be carried out on the state stage and making it transactional underneath the Structure. So primary, I don’t suppose that the chief order, they might confiscate gold held by a state. Article 1, Part 10 could be very clear. There’s one other Lane County versus Oregon. There’s Bronson versus, there are quite a lot of courtroom selections that say that they might not confiscate the gold held at a state.
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Secondly, in case you obey the order, then what we’re doing is ideal as a result of we’re making gold transactional. We’re taking it out of the vault and getting it again into the financial system, doing the precise reverse of what the order was designed to cease. So no, I feel if we enact pirate cash laws, we is not going to have gold confiscated. Kevin, you understand that the Bitcoin cyber hornets are going to say, why don’t you simply use Bitcoin?
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Nicely, you understand, Bitcoin is nice. Issues I really like about Bitcoin, right here they’re. I really like the truth that Bitcoin is proscribed in provide. Solely 21 million will ever be mined, which implies that it’s going to itself retain worth. I really like the truth that it’s infinitely divisible.
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And I really like the truth that it’s non-public, that not all people is aware of my enterprise of what I’m doing. All proper, the governments hate the truth that it’s restricted as a result of governments have all this debt they usually wish to spend more cash than they soak up in taxes. In order that they hate Bitcoin they usually hate the truth that it’s non-public as a result of they wish to implement central financial institution digital forex. So what they are saying is we’re going to offer you our personal model of Bitcoin. Will probably be a central financial institution digital forex and it’ll have this fractionalization and it’ll be stunning and also you’ll adore it.
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provide, they ignore the privateness. So I’m a fan of Bitcoin because of this. Nevertheless, I don’t suppose governments are ever going to make it forex, and underneath the Structure, a state can’t make it forex and not using a constitutional modification. So in case you’re a Bitcoin fan and also you don’t wish to use gold and silver, right here’s what I’m going to let you know. Go get a constitutional modification, take it to two-thirds of the states and get it handed by two-thirds of the Congress that permits states to
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the concept of pirate cash as a result of it’s already within the Structure and we are able to do it now with easy laws on the state stage.
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Lots of people watch the present want proudly owning gold than having their money within the banks, particularly with the banking disaster they usually’re involved about holding money within the financial institution. Your ideas on that idea? Yeah, I feel that- I assume the query is, sorry, how a lot gold versus money ought to you have got, bodily gold?
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You recognize, I don’t know the way a lot bodily gold a person ought to have. It depends upon how previous they’re and all this. And I actually don’t give funding recommendation, regardless that I’ve a CFA designation, regardless that I’m a registered funding advisor. I don’t know who’s watching. So I don’t know what’s acceptable. However I do know that I maintain money, and I even have money within the financial institution. The issue with banks that individuals are nervous about is fractionalization and financial institution runs. And so they’re nervous that the cash’s been lent out.
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state, the state wouldn’t be allowed to mortgage it out. They must maintain the gold. It must be audited commonly. It must really bodily be there. So how a lot do you wish to maintain at residence versus how a lot you wish to have accessible to you? Each particular person would wish to make that call. I wouldn’t counsel you go away from the U.S. greenback both, as a result of, you understand, like I mentioned, nations go bankrupt very slowly than all of sudden. For a very long time interval, your {dollars} could also be excellent, very helpful, very useful to have.
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should have the choice of getting transactional gold and silver along with their bodily holdings and along with their holdings of U.S. {dollars} within the financial institution and personally. Kevin, simply to wrap right here, given all of your expertise working on the Pentagon and masking warfare and economics, we promised we’d finish on a ravishing, harmonious observe, however…
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Earlier than we get there, I simply wish to ask in regards to the threat of World Warfare Three for you. I imply, we now have the director of Russia’s strongest safety company saying this week that he believed Ukraine, together with the US and Britain have been concerned within the assault.
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on the live performance in Moscow. Might that be a actuality for you, World Warfare II? Nicely, in case you take a look at the historical past of the place World Warfare I began, and it was the assassination of an archduke, and that began the bloodiest warfare recognized, the Nice Warfare, the one, warfare to finish all wars. In case you take a look at that historical past, after all it may occur, whether or not it’s a false flag operation or one thing actual, or regardless of the trigger. Folks died, and that’s a rallying cry, keep in mind the Alamo, for individuals to face up and begin a warfare.
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Cusp of Warfare, Warfare III for fairly some time. I wrote a weblog, I haven’t posted in a very long time, however I titled it The Winds of Warfare, and I walked by way of 4 very prolonged, very detailed, extremely researched explanations. You possibly can put The Winds of Warfare by Kevin Freeman, glob and you would learn that. Sure, we’re on the cusp of World Warfare III. We’ve been in an financial warfare for many years right here. The Chinese language, Russians.
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Iran, the North Koreans, they’re aiming at us. After which there’s this inner warfare between the World Financial Discussion board and the person liberty lovers who’re additional away from the creation of the cash provide. So sure, we’re on the cusp of both a civil warfare or a warfare warfare. We don’t should go there. However that’s what we’re dealing with could be very actual dangers.
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Kevin, I’m going to ask you to take it residence for us. I imply, I completely loved this dialog. Thanks on your evaluation. But when we may finish it with some form of hope and for the viewers watching, I imply, given every little thing occurring on the earth, how do you retain issues shiny in your life?
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Nicely, first off, we got here by way of a horrible pandemic, a extremely terrible, horrible pandemic. And we’re touring once more. The financial system’s open. Persons are in a position to shake palms and kiss on the cheek and maintain and hug. That’s an exquisite factor. For one more factor, we nonetheless have liberty. And we now have 50 states, they usually have various things that they’re doing within the states. So we now have a lab experiment happening within the states. We’re nonetheless in a position to vote in elections. The greenback continues to be the first reserve forex.
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of the world. America can return to manufacturing which we now have so many who we’ve acquired quite a lot of pure sources, arable land, farmland and so forth. If we get up for the freedom ideas that you simply come emanate from the Structure we’ve acquired an excellent future. Now right here we’re that is Easter week as we’re recording this and and I’d say for me personally my hope comes from my religion in God and and I feel lots of people place confidence in God and I consider that if we pray we’ve been in dire factors earlier than just like the
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British on the seashores of Dunkirk about to be worn out and Hitler was going to ship pace boats throughout the English Channel and take over the British island? Guess what? Folks prayed and there was a rescue from the little ships, the little individuals who went throughout that English Channel 26 miles they usually picked up the troopers, introduced them residence and there was extra warfare to struggle. And because of this, Western civilization was saved. I feel we’re on the precise aspect of this and I feel that if we consider in God and we go
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and we work collectively and deal with individuals as human beings, we’ve acquired a superb future forward of us. And I actually suppose that pirate cash, if individuals will learn this e book they usually can get copies at piratemoneybook.com or they’ll go to economicwarroom.com and see episodes we’ve carried out on all these matters and lots of extra, or they’ll go to tran they usually can see the place 25 states have began the legislative course of to deliver transactional gold and silver again.
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we are able to stay up for. Let’s focus and give attention to the hope and the chance. Positive, they’re unhealthy issues. Positive, we see issues. So we take a foul, good, stunning strategy. The unhealthy is the issue, the great are options, and the gorgeous is that if all of us work collectively, we are able to restore liberty, we are able to restore hope, we are able to finish the cancel on impact and assist each phase of our society enhance economically and have sensible, stunning futures with their households as one nation underneath God.
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Thanks a lot, Kevin. Stunning phrases. Thanks for ending on that observe. And for these training, I want you an exquisite Easter Monday. We’ll have extra nice content material coming your method. So remember to keep tuned to the Daniela Cambone present and you may hear extra from Kevin at economicwarroom.com. Is that proper, Kevin? That’s right. Thanks, Daniela. There you go. And as all the time, I invite you to succeed in out to one in all my great colleagues at ITM Buying and selling. You may e book a Calendly appointment.
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calendar appointment. There’s an outline under within the video. And mainly it’s a free strategic session the place you’ll be able to go over the matters that we’re discussing. You may go over, you understand, what you need to be doing along with your cash and the position that gold and silver can play. I invite you all to do this. It’s actually an excellent expertise. That’s it for me. We’ll see you quickly.
SOURCES:
https://twitter.com/SecretWeaponUSA
https://www.youtube.com/watch?v=XApz32mscXA
https://www.cnn.com/2024/02/26/food/kellogg-ceo-cereal-dinner/index.html
https://www.youtube.com/watch?v=Pjue92B4Ahs
https://www.youtube.com/watch?v=akLjzTisZoI
https://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard
https://nypost.com/2024/03/27/business/blackrock-warned-for-misleading-statements-tied-to-esg-funds/
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