11.10.24: LT w/ Dr. Elliott: Silver/Gold high demand worldwide daily US debt levels TARIFFS Buffet/Bezos selling PRAY! | And We Know

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Summary

➡ The And We Know speaker discusses the recent election, expressing joy over Trump’s victory and criticizing Kamala Harris’s policies and campaign. They believe that Trump’s leadership will help restore personal, political, and economic freedoms, despite ongoing global economic challenges. The speaker also criticizes the lack of gratitude shown by Harris to her supporters after her loss. They conclude by discussing the increasing national debt and the need for strong leadership to manage it effectively.
➡ The U.S. has accumulated a massive amount of debt, nearly a trillion dollars in a month, which is unsustainable and requires strong leadership to manage. The article suggests that Trump’s economic strategy, based on the American System of high tariffs and subsidies for American businesses, could be a solution. This strategy, which aims to increase American competitiveness and fund infrastructure through foreign taxes, has been successful in the past. However, the future economic landscape is uncertain, with potential challenges from the political process, court hearings, and the banking sector.
➡ The article discusses how financial experts like Warren Buffett and Jeff Bezos are making strategic financial moves based on potential economic outcomes of the U.S. election. It suggests that regardless of the election result, these experts are preparing for possible economic downturns, such as rising interest rates and inflation. The article also highlights the continued value of gold and silver as stable investments, despite short-term market fluctuations. Lastly, it encourages readers to consider their own financial strategies and to seek professional advice if needed.

 

Transcript

Folks, great to have Dr. Kirk Elliott with us once again. What an amazing past week. Everybody was on pins and needles last week leading up into the election. Really, really cool. You guys know you can reach out to him at. And we know.comforward/gold in the description box below. Many of you have been reaching out to him, making phone calls, getting prayers there and everything. It’s been absolutely amazing. I think some of the relief has played out, but we probably got a lot more coming. Even though we had a victory, just one battle after another, I’m sure we’re going to be facing.

I mean, I was so excited on Tuesday night, right. It’s like, wow, that we’re winning. We’re winning, we’re winning. And then I ended up going to bed early before the final results came in of the last five because it’s just late. I get up early. Lt I had to. And then I woke up, and it’s like, trump victory. And this is fantastic. And, and. But, you know, part of me, you know, the day after on. On Wednesday, I get up in the morning and it’s like, trump victory. And I wanted to see what the talking points were the next day.

Right. And part of me was. Was very sad for humanity. I mean, don’t. Don’t get me wrong, this. This win was fantastic. Right. That’s not what I’m talking about. But you look at the left talking points, right? So flipping through something, I never watch, but it’s like, okay, I’m gonna go to MSNBC Morning Joe. And they had the liberal talking heads. They can’t admit to the fact that Kamala was a horrible candidate with horrible policies that people didn’t like. Yep. I mean, that’s why she lost. Right? Yeah. They’re saying men in America are misogynistic. And they didn’t.

They didn’t vote for her because she was black and this is a racial thing. And they didn’t vote for her because she’s a woman. It’s gender thing. And it’s like, we’ve got a lot of social ills in this society. It’s like, wait a second. She wanted to tax the living daylights out of everything and call all these evil things good and good things evil. And she couldn’t answer a single question during the campaign trial. It’s like, no wonder she didn’t get elected. Has nothing to do with her gender. It has nothing to do with her ethnicity.

It. It has to do with her policy and likability. That’s what all elections are about. And lost and they can’t come to grips with that. That’s right. Another thing that’s interesting of the numbers, I don’t know if you caught this, but, you know, they had Kamala at 66 million votes, and which I still question. I think it’s interesting that she won the states. There was no voter id, so of course, we know they just throw as many ballots in there as they want to win those. But Trump got, you know, 71 million votes, I believe. And so Joe, remember, got 81 million, you know, four years ago.

So hold on a second. Kamala got 66, Joe gets 81. Does that prove right there how absurd the 2020 election was? Did they not steal that election? Will that not come up now that President Trump’s in control? Senate, House, we’ve got it all. These guys are in huge trouble. If things play out with God behind it all, is he going to expose this evil? That is absolutely something that’s going to come up. I think it is something. And see, what Trump brings to the table is we are going to actually redeem what the enemy has stolen over the last four years in our personal freedoms, our political freedoms, economic freedoms, our freedom of speech, our health freedoms.

Right. I truly believe Trump is going to bring those back, which those would have been gone, Right. If Kamala would have stayed now. So that’s the good thing for America, and it gives us a fighting chance to be everything that God created us to be. Right. I mean, it just does. Now, what I want to temper this with, and believe me, I am so excited. It was the first battle victory in this war. Right? It had to be done. We had to win the Senate, had to win the House. Right? Because I think moving forward, there’s still a battle that needs to be waged.

Right? It’s not like just because Trump won the election doesn’t mean that it’s over. We still have to get to inauguration. Why are. Why are the Bidens, or why are the Clintons? Why are the Obamas silent? Why is none of the leadership saying anything? Why didn’t Kamala actually, I mean, this just shows kind of the heart behind a person. When she had all of these people who were behind her, all these volunteers who were hitting the streets, spreading her message, and when she lost, she didn’t say, hey, gang, we battled really hard and we lost. I am so thankful for you.

Nothing, nothing. No gratitude. She just left. She left the party. I don’t know where she went. Right. But she’s going to say something on Wednesday night, evidently. And it’s like, well, you know, where did she go? I was thinking on Tuesday night, it’s like, where in the world? Why didn’t she say thank you to all of her supporters? Right? But here’s where. We’ve got what’s coming. We’ve got these battles coming up. And as I look at it, economically, which is what I do, Trump is the best on the planet as far as presidents go at growing an economy.

That’s right. And if he can’t do it, then it probably can’t be done. That’s how I feel. But our economic woes are not just domestic, they’re global. You’ve got global derivatives, debt, which is probably in the quadrillions. That’s right. Got countries that are falling apart. You’ve got wars, you’ve got rumors of wars. You’ve got the BRICs, nations that we talked about last time that had their meeting where they added a new BREX currency unit like the euro, and that’s going to take away demand from the dollar. None of this stuff goes away. Central bank digital currency doesn’t go away.

Because Trump became president now, he is going to help fix us domestically. Right. And make our country great again. But here’s where, when I look at it, it’s like, okay, let’s just say lt, that you were the president, all right, and you got elected and you go to China and you go to Putin and you say, hey, you know what? You know that reserve currency that we used to have because the Biden administration just was asleep at the wheel while you dismantled us economically? It’s like, well, I want it back. And they’re going to say, lt crazy.

It’s like, we’re not giving it back. We’re 50% of the world’s population. And on that BRICS meeting we just had and added 13 countries, we’re like 70%. It’s a huge, massive trade bloc. We have it. We’re not giving it back. So now what? Right? So I don’t think that we’re ever getting that back. But it doesn’t mean that America is toast, because under Trump, we need strong leadership to be successful in anything in life. You know, you have to be a strong leader to lead a family. You have to be a strong leader to lead a company.

You have to be a strong leader to lead a country. Right? So. So in light of us not having the reserve currency, we need somebody who can control the pocketbooks of Congress, who spend like drunken sailors and say, okay, we’re not going to raise the debt ceiling. This time, figure it out. Figure out how to slash your expenses. I’ll figure out how to bring in more revenue. Right. Which his plan was for tariffs. Right. Which is brilliant, but it’s not really his plan. It was the Founding Father’s plan. He’s just going to reimplement that. Right. You know, there’s so.

There’s so many things that only I believe, only Trump can do, and I think he’s anointed for this time to do just that, which is like God put him in place. That’s right. That’s right. You know, speaking of numbers, we watched the, the funny numbers playing out with the election. You’ve got these numbers that you wanted us to talk about today with the, the debt, debt to the penny here that we’re showing in this chart. What’s going on here. So if we go back, and it’s not on this chart, but we go back to the very first day of the fiscal year, which is October 1st, we added $275 billion of new debt that day.

Right. And then we keep adding more and more debt. And what I wanted to show on this one is October 31st, on Halloween, right. We added $105 billion worth of debt from the 30th to the 31st. Okay. So you start thinking about some of these massive numbers. 275 billion on day one, you know, and it keeps going up and up. You look at these numbers like, man, we’re adding 30, 40, $50 billion every single day to our debt, and then we add another 105 billion. These are big numbers considering that just in October alone we added, we’re probably pushing close to a trillion dollars that we’ve added.

When you say 275 billion on the very first day, and then we added another 100 billion on the last day of the month. And you add up all those other days, it’s massive amounts of debt that we added. So that’s in one month. So in all of the history of America, from 1776 to 1980, we almost amassed a trillion dollars worth of debt. Two hundred and four years of existence in this country. We added about $1 trillion of the debt. We just did this in a month. Oh, my goodness. Like, what in the world? See, this is where you need a strong leader like Trump to tell Congress it’s like, and the Fed stop printing money and tell the Treasury Department stop asking for it.

Right. Because it’s unsustainable. And you can’t do that with a weak leader. I mean, what else is A strong leader like Trump going to do. We’ve already seen it. One hour after he was elected, the Houthis said, we’re calling for a ceasefire on Israel. You know, after blowing missiles at him for a year, it’s like, okay, now somebody, they know, somebody’s going to do something about it. And, you know, so there’s going to be a lot of good things that come. But what I want to temper that with is don’t look at it with Pollyanna glasses, thinking that it’s rainbows and unicorns all the time everywhere, and it’s happy and fun.

And because there is more battles coming, this is just the first win in a war. Right. And who knows what’s going to happen economically with the banks, with the political process, with indictments, with court hearings, all this stuff before inauguration date. The battle is still in front of us. Yeah, it is, it is. You know, it’s. How is he going to do this? What is he going to do, you know, on the front end to get this started? And of course, we wanted to bring up terrorists tariff here. Tariffs are as American as apple pie. I love that from Zero Hedge.

So, to me, economically, this is one of the foundational underpinnings of the Trump administration. And he’s talked about, it’s like, what does he want to do? He wants to eliminate personal income taxes, which will do what? Increase our bottom line so Americans have more money to spend. When we have more money to spend, companies are going to be able to hire more people, there’s going to be more sales tax revenue, property tax revenue, because people can afford houses. Right? It’s just how it was. But, but here’s where this is not a new idea, right? This is the idea of the Founding Fathers.

So, in fact, from 1790, and I’m just reading from this, this little article here, 1790-1962, the United States pursued a high tariff policies under a program, what’s called the American System. Right? This is the thing. You can look at it. George Washington, Secretary of Treasury Alexander Hamilton, drafted this report to Congress. It’s called the Report on manufacturers in 1791. Well, what was the ability he wanted? He proposed that in order to have a strong country, America needed to have strong manufacturing base with jobs that taught skills and offered income security. That’s the basis of tariffs. So what does this mean in layman’s terms? It means that if you take it one step further, you subsidize American businesses, right, to make them more competitive, and you tax the living daylights out of Foreign goods coming in, then what? Then the foreign countries are paying for our infrastructure, they’re paying for our taxes, they’re paying to fund everything that we do.

And this is Trump’s idea. Well, not his idea, it’s founding Father’s idea, but he wants to implement it fully. And I think it’s absolutely brilliant. This is how you make America great again, because this is how you made America great the first time. That’s right. So this proposal would, you know, back in the day, Hamilton said, well, you give subsidies to American businesses and tax the living daylights out of others, well, then they could compete successfully against the United Kingdom and the European business, which is all there was back then. But now replace the UK and Europe with China and the BRICS nations.

Right. This is the goal. So under this, Abraham Lincoln, Henry Clay, the American system was the bedrock principle of the new Republican Party. Under Lincoln, William McKinley, I mean, all these presidents were promoting this, and it really was what made us great. Right. So now the left, their argument is, well, there’s so many imports coming into America that it’s going to make everything so much more expensive. And this is going to really attack the lower class and the middle class. And this is a stupid plan. It’s like, okay, if this were the case, I would agree with them.

But it’s not, because under competition and as a family. Lt you have a family, I have a family. If I. If there’s competitive products and one of them is really expensive and one of them is cheaper, I’m going to buy the cheaper one. Of course, both the same. So this is where people will change their spending habits, stop buying these expensive foreign goods, start buying American. And this is where it starts to really turn around. And economically, I think this is the linchpin. Along with lowering other taxes, lowering capital gains, Kamala’s plan of 25% unrealized capital gains along with 44% capital gains, that’s a lot of capital gains taxes that would have killed investment in America.

So Trump is onto something amazing. And it’s going to. It will change the fabric of America in a good way. Yeah, I mean, I just think about, like in Japan, when you’re over there, you can see that almost all the cars are, you know, Japanese cars. You have, and you have a lot of Mercedes and the, like, Tokyo BMWs and stuff like that, but you don’t see any American cars over there. Well, they figured it out. They send out their vehicles and they, you know, they make all the money. So finally they’re going to probably Set this thing up and it’s going to be very difficult and folks are going to be like, you know what? I think I’m going to get me a, an American made vehicle now because it’s going to be affordable and it’s my kind of vehicle.

And it’s going to what, build the infrastructure for what? Michigan’s probably going to get excited. I’m sure they’re going to have their plants now. Remember, President Trump always brings up, they stopped building the plant because they heard I was going to win in Mexico. And so, so those are some of the positive ones. You know, moving, moving along. You, you had this here. Berkshire Hathaway’s cash fortress tops $300 billion as Buffett sells more stock and freezes buybacks. What’s going on here? So we’ve talked a lot about Warren Buffett selling his bank of America shares. You know, since July, he sold $7 billion plus worth.

But, but this number that came out, it’s like he’s been selling other things. He sold J.P. morgan, he sold all of his commercial banking interest. Now the guy is sitting on $300 billion worth of cash. Billion, Right. So here’s where, if we start to connect the dots and kind of look under the covers a little bit, what does that tell us about what he thinks the American economy is going to do? Well, this was all done prior to Trump winning, right? But, but I think there’s more to this story, right? Because he doesn’t expect the economy to do well moving forward.

Maybe he fully thought that Kamala was going to win. Right. And so he’s sitting on all this cash because the American system was going to collapse. Same reason why Ray Dalio sold all of his bank shares. Same reason why Stanley Drunken Miller is, you know, a large hedge fund billionaire investor, as is dalio. He has 20% of the entire portfolio shorting U.S. treasuries. Like, okay, what are these people thinking? So I got to thinking either A, they thought that Kamala was going to win and it would destroy the economy, or B, it had nothing to do with the election.

Lt everything to do with the Pacific Rim. What’s happening in China. So in China, I’m sorry, in Japan. So in Japan, the Japanese yen carry trade has been the global financing arm for all investment globally for like decades. And that is the yen had almost zero or negative interest rates for like decades. So countries, hedge funds, big banks, they could go borrow the yen, right? For 0% interest and almost a risk free transaction. Just say, well, we’re just going to Take that money, the $100 million that we’re putting in Japanese yen and getting that money, and we’re going to invest it into European treasuries or US treasuries may be paying 4%.

So when you’re borrowing at zero, investing in something that’s supposedly risk free into another sovereign currency and making 4%, that’s a lot of money, right? So. Or you can buy companies with it or real estate with it, or whatever these investment firms and banks and hedge funds are doing. It was the financing arm for the world. Well, since Trump became like, this is where I think Warren Buffett might be brilliant in the sense of how he’s adding all this cash because either A, Kamala wins, the economy tanks or B, Trump wins, the dollar goes up, the Japanese yen tanks.

Now, how do you fix a tanking currency? How do you attract more foreign demand for it? Jack up interest rates. Now people, when they invest globally like that, they want a reward for the risk that they’re taking. The only way to fix a collapsing currency is to jack up interest rates, attract more foreign capital. So either way, no matter who won, people like Warren Buffett, people like Ray Dalio, people like Stanley Druckenmiller are thinking the yen carry trade, if Trump wins, will stifle global investment globally. I mean, it’s a game changer. And with that, we’re going to have massive amounts of inflation.

You’re going to have rise competitive yields and rising interest rates all over, which is going to impact people with debt, which of course they want to get rid of their bank shares, because when people can’t afford to make their payments because interest payments, rates are going up, they’re going to default on their loans. That’s right. So. So they’re getting out of Dodge in a big way. And part of me is thinking this is why the election to me was almost immaterial to what they’re doing, because they hedged themselves. Either way, either the dollar goes up with Trump and the yen carry trade will impact the entire global economy, or Kamala kills the economy.

Either way, they’re getting out. They’re not adding to their positions, they’re getting rid of them. Yeah, interesting. Another guy that’s been making waves, of course is Jeff Bezos. Selling $3 billion in Amazon shares and he ranks as the second richest man in the world. What’s going on? I mean, these guys are just making some strange moves. So this one to me isn’t so strange in the, in the impact and rationale. So this was this was done right before the election. Right. November 3rd. So at that point, Trump was gaining momentum. It’s like, ooh, he’s probably going to win this thing.

Even the New York Times, he’s probably going to win this thing. So under Trump’s plan of tariffs, what does Amazon sell? Mostly Chinese stuff, pretty much. Right. So. Or, you know, so if tariffs go up, everything that they’re selling is going to be more expensive. Amazon probably gets hurt hard with that. Right. As things that they’re selling, you’re going to have all these tariffs on and people aren’t going to be able to afford them. Right. So, and this is actually sort of revealed elsewhere, and the fact that US Manufacturers the day after the election are accelerating all of their imports, coming in, trying to get them here before January when the tariff policy may be put into effect because they don’t want to pay more for their stuff.

Right. So this is interesting to me. Bezos also seeing the economic impact of what’s coming. And so he’s getting out of Dodge and then you’ve got the guy who’s head of the Citadel Group selling almost a billion dollars worth of Nvidia shares. It’s like, wait a second, Nvidia? I thought artificial intelligence is the wave of the future and they’re the chip manufacturer that’s making it all happen. Right. All of these guys, if they thought that the economy were going to do extremely well, they wouldn’t be selling all of their stuff. They would be actually holding steady or buying more, but they’re not.

Lt so, so when you start to see some of these things, just connect some dots, right, and see what the billionaires are doing. And it actually paints a pretty yucky picture, actually. Yeah. With all these guys playing with their money in the, in the markets, it makes me wonder, once again, your thoughts on silver and gold. I mean, President Trump even says we’re going into a new golden era. I love when he says that. It makes me think of what you’ve been doing to help people. Well, so the day after the election, gold and silver tanked, right? And the stock market boomed.

Right. It was like a thousand points on Wednesday. And gold and silver came down. To me, just like anything, it was a knee jerk reaction to something big that happened. Right? Whether, because you always see knee jerk reactions, whether it’s a, you know, an interest rate policy, interest rates going up or down, knee jerk reaction the next day, overselling over buying, presidential change, overselling over buying. But to me, the fundamentals didn’t change. The global economy did not change. The unsustainable debt did not change. The fact that banks are under capitalized did not change. But it was a feel good moment that wow, look what Trump’s going to do to the economy.

Right. So the stock market went up a lot, gold and silver came down. But in time what you always see is fundamentals are always the card, you know, the ace up your sleeve. Right. They always hold true, they’re always going to be the game changer. And fundamentals rule everything. People’s emotions do not. Right. So to me, if nothing changed fundamentally in the fact that what causes gold and silver to go up? Supply and demand of the physical asset. You’ve got central banks around the world still buying gold by the hundreds or thousands of tons a BRICS common currency that’s going to be 40% backed by gold.

Putin saying that they’re going to have silver as a strategic reserve to the ruble which is going to take away all the supply. You still have electronics demand. You have the new battery that we talked about from Samsung, solid state silver battery that’s going to take up 63% of the global mining production of silver. None of that changed. Right. So when I see a price drop like that the day after the election, to me it’s like, okay, back up the truck, load up on the low price because it’s going to continue to go up. The fundamentals didn’t actually change.

That’s right. That’s good to know. I mean that’s a perfect time to step on in and hey, crap it while it’s low. I hear that for my son all the time. Dad. Buy low, get it low now. Yeah. Pretty exciting news. I mean they can reach out to you, right? There’s a phone number. Yeah. 720-605-3900. At 720-605-3900. We are absolutely slammed since the election. Right. So but it might take 24 hours to get back to you, but we will because this is important times right now. Or you can go to and we know.com forward/gold and what, what comes next is we are going to ask you what you’re concerned about, what your fears are, what you’re excited about, what your goals are.

And using precious metals as a strategic backdrop for us and our currency, like Russia is doing with it, with the ruble. It’s like we can actually hedge our paper assets and the things that are fundamentally flawed with something that’s strong and real and has major supply differences according to the demand that there is for it and really start to hedge your portfolio, protect it and grow given the times that we’re living in. Amen. Amen. Yeah, it’s so important, guys, to reach out to Dr. Kirk Kelly. Amazing updates, amazing team that you have there. What amazing time to be alive.

And I think we’re going to watch the silver continue to skyrocket, that’s for sure. On that note, since we’re all on a high still, probably from the election, love to just give honor to our heavenly Father if we can. Real quick. Heavenly Father, thank you so much for how you continue to guide and direct our lives. What an amazing relief that you found grace for our nation and we probably deserved a lot worse for, you know, taking you away from our schools and the prayer from our schools and more. We’ve seen a great revival happen through the hearts and the minds of many people.

Know we, we always hear there’s no atheist in foxholes. We’ve been through a battle. We still have a huge, huge battle ahead, we know to get out of this debt and so much more. And we just thank you for the biblical method that you’ve continued to provide us for silver and gold. Thank you for Dr. Kirk Elliott and his team. They’re working so hard, so busy and helping so many. And you see that we just ask that you continue to protect them and all that they do for each person that calls and reaches out to them.

We definitely need you and we just honor you and thank you for what you’ve done in our nation. Look forward to great things to come. We ask all this in the name of your son, Jesus Christ, our savior. Amen. Amen. Thank you so much, Dr. Kirk. We look forward to talking to you again soon. It’s my pleasure.
[tr:tra].

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