2.4.24: LT w/ Dr. Elliott: Precious metal tax removal in some states Economic sanctions on USA? And We Know

Well, it’s great to have Dr. Kirk Elliott back with us once again. Every week you’re spending time with everyone within, we know, constantly updating us, giving us great information. We have a lot to cover today, folks, and we’re probably going to get right to it. I wanted to ask, first of all, all the stuff that’s been going on with Texas seems to be gathering a lot of wind and a lot of people are paying attention to the border a lot more than they have in the past.

Any thoughts on that? Has this has the potential to be like a political nightmare playing itself out? I mean, it really does. So I was reading earlier in the week that there’s a group called the army of God like truck caravan that’s going down as citizens to help protect the border. So MSNBC and others are saying that these are christian terrorist organizations. So the rhetoric is starting. It’s like what’s going to happen down there? I’ve heard everything from sanctions to the Supreme Court.

Obviously, we talked about that last week, how they basically said, no, Texas, you got to cut down the razor wire because federal agents can’t get to the wall anymore because there’s razor wire in the way. It’s like, wait, that doesn’t make any sense. They can’t get through. Other people can’t get through either. Right. So it’s like keep it up. But yet there’s so much stuff going on. So if you then add the element of people wanting to come and help Texas protect their border and they’re being called christian terrorist organizations, this has the makings of something like j six all over again.

Right. It’s just like attacking different people groups because of their beliefs and the federal government, state government. But now there’s state governments involved. So we’re going to see how Texas responds to this. I’m saying all this because history is kind of repeating itself. You’ve got disarray, you’ve got economic chaos, you’ve got people upset. It’s a political season. And now there’s all kinds of mudsling, all kinds of horrible stuff happening.

Biden this week or actually, it was actually over the weekend, I think that it came out for the first time that I can ever remember, put economic sanctions on Americans in kind of retaliation to what’s going on in Texas. So yeah, look, you pulled it up on the screen. That’s from the White House website. White House Gov. Right. So, so what does it say? The Biden Harris administration announced a temporary pause on pending approvals of liquefied natural gas exports what’s America good at? We’re good at oil and the, one of the few things that we’re really super good at.

And so economic sanctions, he’s putting a pause on pending approvals so our natural gas providers can no longer export to Europe or Asia or anything else. Right. So what did he just do? He just did something that is common when we’re fighting like a rogue terrorist nation like Iran or something like that. We’re saying we’re going to put economic sanctions on you, Iran or Russia or you name the country.

Biden just did it on his own people. He just did it on americans and american companies saying they can’t export natural gas to the world. I mean, what is going on here? And to me, this is like retaliation to Texas wanting to fight and protect its borders and say, fed, stay out of our state. We’ve got this handled right. And so the fight back response is, let’s stick it to Texas.

They’re big, huge oil and gas producers. Let’s just not allow any exports. Right. So to me, this is going to be massive economic fallout if this lasts for a bit because we export a lot of natural gas. And there’s the states that kind of do a lot of natural gas production. I’m in one of them, Colorado, but Mexico, Texas, you know, Pennsylvania. A lot of these states are kind of swing states.

It’s like, why in the world would they do something like that during an election? Know, basically strip away people of their jobs? Because these companies are going to have to lay people off if they’ve got no exports. Right? That’s right. But here I was thinking, it’s like maybe they don’t care about the votes because they’ve already got the voting thing figured. Mean, there is no logical explanation as to why you would put economic sanctions on America other than it’s just political retaliation.

Yeah, it just doesn’t make sense. I mean, that lines up with the next point that you wanted to share with everyone, and that was this GDP number was great. But there’s just one problem. What is going on with this? Okay, so let’s just put this into story format. Let’s say you and your wife are sitting there at the dinner table and you have this eureka moment and you say, hey, honey, I have an idea.

I want to start a company and I’m going to spend $250,000 to make 100,000. You are so stupid. It’s like, why would you spend 250 to make 100,000? We’re going to go bankrupt. Right? I mean, common sense? Well, GDP, the gross domestic product, it rose 2%. We’ve talked a ton on this show over the months or throughout last year that inflation is not at the low rates that they say.

It’s not like 3. 8%. It’s actually hovering around 15% because of artificial manipulation of inflation. What is gross domestic product? It’s the reflection of everything that you and I and everybody in America spend money on at retail stores, whether it’s Walmart, Costco, Best Buy, whatever. Right? So that would reflect inflation because it’s our spending of retail prices. Right? So that goes to say gross domestic product, if it were keeping up with inflation, should be 15%.

If it’s less than that, the economy is actually shrinking. Right. Here’s where 2%, much less than 15%, that’s actually a massive contraction of the economy. However, it’s even worse than what that sounds, because to generate $1 of gross domestic product, the United States has to go $2. 50 into debt. So it’s like, this is the same numbers I just used at the illustration of you telling your wife you’ve got this great, amazing idea to spend $250,000 to make 100.

That’s stupid, right? But this is exactly what the government is doing. Right? And this is why we’ve got an economic financial D day coming, because we’ve hit the point of critical mass. And that leads us into what the Fed did earlier in the week. The Fed decided, and we’ve been hearing for a while, that they’re going to lower interest rates in 2024. We’ve had these interest rate hikes.

We’re winning this battle of inflation. We’re doing a really good job. So we’re going to lower interest rates next year. So they had their first meeting of the year, and what did they do? They didn’t lower them. They just paused them. They kept them neutral. They didn’t do anything with it. But it’s like, so why would you lower interest rates? Because you think that you’ve won the battle against inflation and it’s over.

Right? So therefore, you can lower interest rates to stimulate the economy. You raise interest rates to slow down inflation that they’re creating by printing money out of thin air to fund every stimulus under the sun. Right. That’s why we’ve had rate increases over the last year and a half, month after month after month, because we’re printing so much money that’s causing so much inflation that they have to raise rates to slow it down.

Okay, so here’s earlier in the week, they decided we’re going to just pause interest rates, which tells us a lot. So that tells us that they know they haven’t won the war against inflation or else they would have lowered interest rates. Right. But they don’t want to raise them yet either, because of what’s coming is they’re going to have to print money like there’s no tomorrow. And when they print money like there’s no tomorrow, they’re going to have to raise rates down the road to actually slow that down.

So right now they took this pause, which tells us they are not confident. Actions speak louder than words. They are not confident that they’ve won this war against inflation. Well, of course they haven’t. The GDP numbers where they have to go $2. 50 into debt to create $1 of growth, well, that’s going to be inflation. You look at what’s going to happen to the economy when they don’t allow natural gas hurt.

It’s going to hurt America. It’s going to hurt the companies in America. Those companies are going to have to lay people off. And so what happens when that happens? When people get laid off, they go to the government for assistance. Right? So they’re going to go say we need unemployment benefits, we need some kind of stimulus, we need handouts, we need something, Medicare, Medicaid, women, infant children programs, food stamps, whatever.

Right? So here’s where that oil and gas industry is going to get shellacked and I expect layoffs. In that article you just had on the screen with tech companies, here’s where this got to me, really confusing for a bit until I realized what it was saying. So where is the stock market right now? It’s like close to all time highs. It’s booming. Right. And so is the tech stock sector of that.

It’s booming. Well, why is it booming? It makes no sense. People aren’t spending money, so therefore it’s just a matter of time before it comes crashing down. Right. So everything we’re seeing right now is fake growth. It’s because of stimulus money. So what happened here is if the tech stock market is booming, you would think that they’re growing. They can hire a bunch of people. No, not so fast.

In January, the numbers just came out. They laid off over 26,000 employees in January alone. Just the tech sector. I mean, some of these companies were 12% of their workforce, 20% of their workforce, hundreds of people. So it’s like, why is the stock price so high if they’re laying people off? Because that would kind of signify that nobody’s spending any money. It’s a little more sinister than that.

And this is something that you and I have been talking about again for months, which is artificial intelligence, the singularity movement, which, know Kersweel, one of the chief technical officer of Google way back in the day, talked about singularity, which is simply the convergence of man and machine, where machines went out. Right. Ultimately, they believe that science is better than God, that computers are smarter than people. Well, computers can be smarter than people.

I mean, a supercomputer can do math much faster than I can, but people, computers can never have the intuition, the discernment, the wisdom that God gives us. Right? So you’re missing that element of grace and mercy in a computer decision, something that only people have, that are created in God’s own image, who is a God of love. He’s a God of mercy, he’s a God of grace, he’s a God of wisdom, he’s a God of all of that.

Right. So here’s where I was thinking. These jobs, they’re being replaced by computers. What’s the net effect of that? Lower expenses for these companies. When you have lower expenses and revenue stays the same, basically your margins go up and stock prices go up. This is why the stock market in the tech sector is up. They’ve been lowering expenses by replacing people with computers. But here’s the unintended consequence of that.

This is something I don’t necessarily think the government officials have truly thought out, the ramifications of all of this. And that is, might be good for companies to lower expenses and replace a person with a computer, but it’s not good for society because what happens, those 26,000 people are going to go to the government for benefits, entitlements, women, infant children programs, food stamps, whatever the handouts, unemployment insurance, all of that.

Right? So there’s going to be this net drawdown, but the government’s going to say, wait a second, we don’t have any more money because we used to make money when people worked off of income tax revenues. Computer doesn’t make any money. They don’t have to pay income tax revenues. A computer can’t procreate lt they can’t have kids. So when a family can’t go to the grocery store and buy cereal and baby food and clothes and get in the car and spend money on gas to go to soccer games with the kids and everything else, none of that’s going to happen.

Computers aren’t going to, after work, go to best buy to buy computer supplies or an led tv on the way home. So sales tax revenues are going to come down. Computers aren’t going to go looking for houses on the weekend and buy a house to live in because they’re computers, they don’t make money. Right? So the real estate market is going to come crashing down, which means property tax revenues come down.

So all of these income streams for governments, income taxes, property taxes, sales taxes, all of that, they’re losing that income stream, but yet their expenditures are going to increase. When people lose their jobs, they go to the government to help save the day. Right? What’s not going to happen? So what is the net result? You can’t tax people anymore because they’re already living hand to mouth. They’re not going to spend money, so therefore they’re just going to print their way out of it.

This is why I think the Fed paused interest rates right now, because they know what’s coming and they’re going to have to print more money and ultimately they’re going to have to raise rates even more. Now, why else do I think that they’re going to have to print more? Was I sent you this article right before we recorded? Yeah, this one. Basically the dark ages for us. Housing and manufacturing.

Kind of an ominous dark title, right? It’s like. But what is it saying? Basically, in a nutshell, we’re hearing from Biden and his administration that we’re in a manufacturing renaissance in America. We’re creating manufacturing jobs. We’re doing basically what Trump did. They’re not, I mean, they’re saying they’re doing the same thing, but what did Trump do? Make America great again. How? Bring jobs back to America. Right? So we’re not paying some foreign entity or foreign corporation.

We’re basically exporting jobs to bring in their cheap goods. He was making America great again by creating manufacturing jobs. 18 out of the last 20 months, manufacturing jobs have been in decline. People have been losing their jobs. Well, that’s the bread and butter of the US economy, is manufacturing jobs. So when they’re losing 18 out of the last 20 months, then what? Those people are going to be out of work.

They’re not going to be able to buy houses. So therefore, that economic recession in manufacturing is going to lead to a housing recession in housing prices. See, this is the world that we’re living in right now, where recession, financial, economic doomsday, the president putting economic sanctions on us companies. But to me, it all kind of adds in to their ideology and their agenda. And I was just thinking about this.

Even while we were recording this. It’s like, so earlier in the know, the private citizens going down to Texas called the army of that. They called them christian terrorist organizations. The only time I’ve seen economic sanctions before was on a rogue terrorist country, right? Like Iran or Russia or whatever. Well, they’re calling them christian terrorists. They’re putting economic sanctions on our own people. This is all to me.

Correct me if I’m wrong. I don’t care if you say that I’m wrong on the air. I don’t care. But I think this is a physical manifestation of a spiritual battle that’s waging in the heavenlies. And we are participants in this. And God calls us to be light in this dark world and bring people to him because there is no hope outside of him, right? And so people living in this dark world, this is why I think we’ve got so many antidepressant drugs and everything else happening, because people are lost and they’re scared and there is no hope.

And you see everything that we’ve just talked about. But yet Jesus can put a smile on people’s face because he can be the peace in the midst of this storm, right? I mean, this is something else that we’re seeing unfold. And we have to start asking ourselves this important question. It’s like, why are we here, God? Why did you knit us together in our mother’s womb for this time in history rather than 300 years ago or 300 years from now? Why now? Who are we supposed to reach? Who are we supposed to impact and put a smile on their face and bring them into the kingdom of God? I mean, these are the questions we need to start asking ourselves.

That’s right. Yeah. I’m just looking at this article from Salon commentary, MAGA and christian nationalism, bigger threat to America than Hamas could ever be. Those are the kind of articles coming out in our own backyard, in our own backyard and even outside of our own backyard. Remember last week when you shared the headline, was it Christine Lagarde that said, if Trump becomes president, that’s a huge, massive threat to globalism? And the Europeans are running scared that Trump is going to be president because it will stop their progressive growth of communist ideals? The Salon article just said the same thing that Christine Lagarde said, that christian nationalism is worse than anything else.

It’s like, okay, I mean, they’re not hiding in the shadows about their ideology, about their agenda, and surely not MSNBC and Rachel Maddow basically bragging about how they’re not going to actually say, even have Trump on the air speaking at all because they think that it’s all lies and they have to be the purveyors of truth and defend people’s honor by not allowing them to listen to lies when everything that comes out of their mouth is a mean.

This is wild to me. Yeah. So with all the information that you’re giving us, one of the things more on a positive note, finally would be maybe this headline. Four states consider lifting taxes on precious metals. Citizens of Georgia, Kentucky, Wisconsin and Kansas may soon enjoy lower taxes on these metals if recently introduced pro metal bills are made law in 2024. So that was an interesting article to share these states.

Something like that would actually happen in August of this year. What would be your take on that? So why would they want to remove taxes from it? Because I think what they’re starting to see is a change, a pendulum, shifting moment in the global monetary system. Because you already have seven states that have already voted to make gold legal tender. In those states. You’ve got Texas and Oklahoma basically wanting state chartered central banks backed by gold.

In fact, Texas votes on that in know, right around the. So what is, what is that article saying that these states are considering lifting taxes on precious metals? Well, it’s saying that they’re viewing it now as potentially currency. Because you don’t tax currency transactions, right? So to me that’s saying, okay, if they’re wanting to lift tax, maybe they think that gold and silver are going to be currency, right.

Because you tax growth, you don’t tax currency transactions moving back and forth. So I think that they’re signaling that there is a change coming, that they are going to give people what they want, freedom of currency, which is what the founding fathers wanted. They didn’t ever want a central bank, a national central bank, because it’s too much consolidation of power and control. They wanted freedom of money so states to actually have their own currencies.

Remember, like the confederate dollars and states had their own currency. And then this was when Lincoln got assassinated. I mean, he was kind of talking about wanting to eliminate central banking, right? But yet any president who’s talked about, I mean, there’s. There’s issues that come up when you start to go against the big banks. The Lincoln presidency wasn’t just about emancipation, right? It wasn’t just about freeing slaves.

That was part of the amazing thing that he did. But it was also he was after banking freedom as. So I think when you see this battle, economic battles bring social conflict. And we are seeing a fiscal nightmare about to unfold in America. Right? Even in Denver. I saw this article yesterday in Denver inside city limits, 710,000 people, the whole metropolis area, well, three to 4 million or whatever it is.

But Denver proper, 710,000. How many migrants are now in Denver? 40,000. We’re looking at astronomical parts of our budget. Ten to 15% of Denver’s budget is now going to try to shelter migrants coming in and they don’t know what to do. They need government money, right? They need federal money because they’ve run out of state money, they’ve run out of municipal money. To me all this signals there is a problem, there’s a bigger problem brewing right under the surface than any of us know about.

We can start to see it, we can start to smell it. And then you’ve got states coming up with a potential solution. It’s like, hey, we understand the banking cris is terrible. We want to stop taxing gold. And the only reason I can think that they’re going to do that is because they think or know that it’s probably going to be currency at some point. And that leads to what you guys provide, which is the reminder that you can actually contact Dr.

Kirk Elliot and his team at forward slash gold in the description box below. Reach out to you and you support folks with the precious metals and more. So this is good slash gold. Fill out the know which basically says what you heard lt and Kirk talking and you’re concerned. You want to help protect your IRA, your brokerage account, your cash. You’re checking your savings and you want to do that with precious metals.

So one of my schedulers, we have 1718 of them I don’t even know anymore. We have a lot will hear you. They will listen to you, they’ll listen to your fears, they’ll listen to your concerns, your hopes, your dreams, your goals, right? And then you’ll be scheduled with one of our advisors, one of our consultants that’ll say, hey, let’s dig in deep. Let’s come up with a strategy moving forward to protect and preserve, grow and thrive, to put a smile on your face.

That’s what we do and that’s lt where our relationship begins, not ends. And I want everybody to be careful because if you’re hearing this and you say, I’ve heard other dealers talk on other shows and whatnot, right, and I’m just going to go to them. Not all gold and silver created equal. Just be very careful. The only thing that you should ever have. I can count on one hand 100 ounce bars of silver, ten ounce bars of silver, 1oz silver rounds, gold bars are kilo bars of gold.

That’s it. Anything else? That’s not that you’re going to pay too high of a premium and I don’t like them. Right. Two keys to wealth, be in the right place at the right time and don’t overpay for your stuff. So that’s what we help people do. But this is where our relationship begins, not ends. This is a very fragile economy. Moving forward, it’s going to get uglier. So our goal is to help people navigate through that.

We’ll hold your hand through it and we’ll let you know when it’s time to buy, sell, reallocate, do whatever needs to be done. We will let you know. So you’re not in this journey alone. We’re in it together. Amen. Well, that’s awesome. And we just want to make sure we throw the side note again. Reminder, folks, that if you see in the comments below anything from Dr. Kirk Elliott or it says, and we know gold or anybody trying to pretend they’re us and say look here, click here at our email and reach out to us and we’ll help you.

We don’t do that at all on this show and Dr. Kirk Elliott does not do that. Also. This is how we reach you. You click on forward slash gold. Please know that we’re doing all we can to remove those folks. And Rumble’s trying to help us, too. And so I want to make sure I get that out and crystal clear. So thanks again, Dr. Kirk Elliott, for your update dates.

It’s absolutely amazing. I know we had a lot to share today, lot going on in such a quick way, but just a great reminder that we can make through this storm with your support, especially monetarily. So we’re looking forward to talking to you again next week. Sounds good. We’ll see you, brother. God bless. .

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