3.3.24: LT w/ Dr. Elliott: Amazing testimony Consumer Price Index Job losses housing Banks Pray | And We Know

➡ Dr. Kirk Elliott discusses the misleading nature of government statistics, particularly regarding unemployment and inflation on the And We Know channel. He explains that the government often excludes certain groups from unemployment calculations, making the situation seem better than it is. Additionally, he criticizes the manipulation of inflation measurements, arguing that the real rate is much higher than reported. This misinformation, he suggests, could lead to economic problems similar to those seen in Venezuela and Argentina.

➡ The article discusses the current financial crisis, with many people unable to pay their loans, leading to a drop in housing prices. Banks are under stress as they have to increase their reserves while dealing with loan defaults. This situation is worsened by the fact that some banks are buying out others, acquiring their toxic assets, which negatively impacts their own balance sheets. The article also mentions that several billionaires are selling their shares, indicating a lack of confidence in the economy.

➡ The story is about a man who grew up in a lower-middle-class family, learned the value of hard work, and faced financial struggles early in life. Despite these challenges, he learned the importance of giving, even when he had little to give. This principle guided him in his career, leading him to prioritize people over profit and establish a successful company dealing in gold and silver. His faith played a significant role in his life and business, teaching him to view others as more important than himself and to give generously.

➡ This text encourages us to make decisions based on faith and love, not fear, even when things are tough. It talks about the importance of appreciating the gifts we’ve been given and using them well. It ends with a prayer thanking God for guidance, protection, and the work being done by a team led by Dr. Kirk Elliott. The prayer also asks for strength for those who are struggling and for continued blessings.

Folks. So excited to have Dr. Kirk Elliott back. It just amazes me how much information flows through the Internet on social media out to all of us, has an effect on us day in and day out. And here we are again, just looking at what’s coming for all of us, especially when it relates to those things, when it deals with money, jobs, the whole nine. What an amazing roller coaster ride we’ve been on.

Thank God that we have Dr. Kirk Elliot with us. You guys know, and I’ve got the wrong tickers. I’m going to show that one. And we know Comgold. That’s where we go to in the description box below if you want to reach out to them. Welcome back, Dr. Kirk Elliott. It’s great to have you. No, LT. It’s great to be back with you. Yeah. Amazing. We had great discussions and we’re looking forward to getting on the cruise August 11 through 18th together.

And I was sharing some things with Dr. Elliot that I definitely cannot put out on video, but we’ll be able to talk about some of that on the stage when we’re there. And I’m just so excited to have you aboard for that and just continue our updates. And folks get to meet you personally. So thank you for that. So what seems to be going on here recently lies.

I don’t even know how else to explain it in more than one word. Okay. So you have, over the last couple of weeks, you had Jerome Powell talking on 60 minutes about how he’s not concerned about the long term debt situation in America. It’s like, what? You’re not? Why aren’t you? You should be because the rest of the world is. Our dollar is tanking globally. But it’s a lie.

Right. It’s a political year. It’s an election year, not just here, but in 60% of the world. And so you’re going to see all these politicians saying stuff that’s simply not true to try to get votes. Right. Because he should be concerned about the long term debt situation in America, but you should also be concerned about the short term. Right. So for them to actually say that they’re not concerned about it, if it weren’t a problem like they say, then why do they have to raise the debt ceiling every year and threaten to shut down the government? Because they keep running out.

Do they think that that’s not a problem? No, they think that’s a problem. Right. But it’s political theater that’s going on. So then you’ve got the Bureau of Labor Statistics coming out with unemployment numbers you showed earlier. So these things are insane, right? When you look at this, okay, so look at that list. Countries cutting 100% of their workforce, meaning they’re going out of business, right? They’re, they’re done.

30% of the workforce, 25% of the workforce. Spotify. Everybody listens to Spotify. I thought, well, why are they cutting 17% of their workforce? I mean, you look at these numbers, it’s like that is a lot of job losses. But then you look at the government numbers and it doesn’t seem to jive. It doesn’t match up because they say the number of americans filing for jobless benefits for the first time rose, which, of course, you look at those things, but you look at it prior to that and unemployment, jobless number benefits, they’re coming down.

How could they be coming down when you’ve got that list of all these companies closing up, 100% of their workforce, 25%, 17%. It doesn’t add up. So then how do they do their math? Right? So is their math different than our math? The answer is yes, it is, right? Because let’s just say that you have this whole pool of people that are unemployed. Some of them are on disability.

That means they’re still unemployed, right? They’re getting disability payments or whatever. So we have to ask ourselves, are they working? No, they’re still unemployed. If you’re unemployed, you’re unemployed. I don’t care if you have a disability or not, you’re unemployed. Well, they would say that they would take those out of the total pool that they’re measuring against because they don’t count, that they would also pull out people who are so discouraged because maybe they’ve been looking, let’s say lt, that you didn’t have a job, so you got to feed your family.

And you’re out on the sidewalks hitting the streets, knocking every single door, will you hire me? Please? Will you hire me? And this goes on for months and it’s like, nobody will hire you because nobody’s hiring, right? The economy stinks. So you give up, I’m just going to stop family, we’re going to live under a bridge, or we’re going to do whatever. We’ll just get benefits from the government somehow.

We’ll get Medicaid and whatever. We’re just going to stop voluntarily because nobody wants me. Right? So if you stop voluntarily, they take you out of the unemployment pool. They don’t count you anymore. But does that mean you have a job? No, you’re still unemployed, but they took you out. So when they do that kind of stuff. The unemployment rate, the number of people working. They say, oh, that’s going up.

The number of unemployed is coming down. See, we’re doing a really good job. It’s like, no, you’re just taking people out of the pool. You’re not measuring the same number of people. So this is the weird magic that politicians use to try to get their story across that will benefit them. The same thing is done with inflation. So inflation, it used to be a good measurement, the consumer price index of where prices were going from month to month to month to month.

Right. But then in 1996, they started to change things. They put in substitution bias, for one. So all that, the consumer price index is for everybody watching. It’s a basket of 30 goods. They measure 30 goods full spectrum, across the board, things that we would buy as families. And that’s supposed to be a good representation. Like, you might have bicycles in there or steak, filet mignon or eggs or whatever.

Right? So if you’re measuring the same good every year, year after year, it would be a valid measurement. But they don’t. They substitute. So if the price of steak went up 40%, they said, this is going to cause inflation to go up. Let’s replace steak with hamburger or spam, because it’s even cheaper. Right. And let’s just say that hamburger is 30% less than steak. Remember, steak went up 40%, hamburger is 30% less.

That’s truly a 70% difference. Right. So what would they say happened to the price of steak? It went up 40%, but they would say it came down 30. Well, you’re not measuring the same thing anymore. So these are the tricks that they keep playing, which is why the numbers are completely bogus. Lt completely bogus. Now, why does this matter? This matters because when you invest in anything, I don’t care if it’s a stock bond, mutual fund, gold, silver, real estate, anything, whatever your investments are, unless you’re outpacing inflation, you’re falling behind.

Right. So when they artificially lower inflation since Clinton in 1996, changed the way that they measure inflation for political reasons. Well, they say that inflation is like, at 3. 8%. No, it’s not. Unofficially, inflation is more at like 15% right now. Right. Because when you take away all of the 1996 changes that they made, we look back to the early 80s when Reagan became president, inflation was 14.

3%. How did they slow that down? They jacked up interest rates to 18%. So the only way interest rates can slow down inflation is if interest rates are greater than inflation. So here’s where we come to today’s battle. They keep raising rates or they pausing them, they’re not lowering them because they said we got to raise rates to slow down inflation. We got to stop that inflation train from going down the hill.

Right? So again, it’s inflation that they caused by printing money out of thin air, right? They just keep printing, printing, printing that devalues the dollar. It creates inflation. So the only way that interest rates are going to slow down inflation is not for interest rates to be where they are now because they’re lying about the true inflation rate. Interest rates have to be greater than 15% because that’s unofficially where inflation is right now is at 15%.

So I’m expecting interest rates to hit 18, 20% just like they did in the early 1980s. If it’s really going to slow down inflation, if they don’t do that, we keep on inflating going into like Venezuela style, Argentina style type inflation down the road where all nations lose credibility in your currency and you’re going to have to print even more to get out of it. That’s the dangerous cycle that’s coming up now.

You’ve got this going on that they can’t fix, right? So when you’ve got higher prices, higher cost of borrowing, lower wages, more people unemployed, what happens? People stop spending money. When people stop spending money, markets get hit, right, because the markets are a function of revenue. When interest rates go up and people are already strapped, they stop making their loan payments on their car loans, on their credit cards, on their houses, right? So at banks, you start to see loans going into delinquency, meaning you’re late and then ultimately into default.

When you have a series of delinquencies, you ultimately just default and you file for bankruptcy, they cancel your loan. See, this is causing major stress on banks, right? But look at the pending home sales. What does that tell you? Look at that chart. It looks like somebody jumped off a cliff. It’s so steep down. We haven’t seen a chart like that from by where your cursor is. What was that? 2009.

I can’t read the numbers on the chart. Way back, right in the middle of it, where the lines are going straight down. That’s got to be around 2008, 2009 during that crisis. Right? What we’re seeing is something abysmal, worse than what we’ve seen before, because when people can’t afford to buy houses, they’re not going to apply for them. When people don’t apply for houses, what’s going to happen.

Housing prices are going to come down to try to entice people to buy your house when inventory is really high. So you’re going to see competitive devaluations in housing prices. So the housing markets toast because of bidenomics and for quite some time. So now you look at banks, they’re being capital stressed a lot. I mean, people are defaulting on their loans all at the worst possible time for banks because you’ve got things like basil three, which raises their requirement of reserves from 0% to 20%.

How is the bank going to come up if you’re a billion dollar bank with $200 million if you were at zero? Well, they’re not. So they’re going to have to basically fold or get bought out by another bank. Right? So this is what happened with New York Community Bank. New York Community bank was the bank that bought Signature bank, which is one of the ones that went into FDIC receivership and failed when Silicon Valley bank went down.

Right. So New York Community bank bought Signature bank. So New York Community bank probably used to be a good bank. They were able to buy another bank, but what did they buy? The toxic assets of a failing bank. So this is, know we’ve used this illustration before, but if you have a nice fresh cup of ice cold water on your desk and you’re drinking it because it’s refreshing, and then you have a cup of poison on your desk too, right? And you just drip a couple drops of poison into the water, it taints all the water in that well, that whole glass of water is tainted.

Same thing happened to New York Community bank when they bought the toxic assets of signature bank. In what world did they think that that was not going to impact their balance sheet negatively when they bought all those toxic assets? It’s stupid to not think that it’s going to impact you. Well, now it did. And in January, their stock price went down 70% in one month. Now they’re opening up the books again and realizing, oh, there’s material weakness and internal controls.

So I have a feeling now New York community bank is going to go into FDIC receivership. What’s the issue here? The issue is we’re seeing all kinds of banks buy out other banks. And when you buy out toxic assets, that also taints your own balance sheet. I bet we’re going to have bank failures 2. 0 coming. Like we talked about last week. The other problem with this is the emergency funding that banks have with the bank temp funding program, the BTFP that sunsets on March 11.

That’s only a couple of weeks away. And banks will not have any more emergency funds when they need it the most because you’ve got excess defaults, excess late payments, and now you’ve got this reserve requirement that people are going to. That banks are going to have to increase their reserves when they don’t have any money coming in, how are they going to do it? Well, let’s just not actually loan out any money to people.

We have to save every dime that we can. So we’re going to stop loaning money out because we might not get it paid back. So now that’s going to impact the economy in a negative way. See, this is all happening at a time when it’s an election year and people are getting squirrely and they’re going to start to vote away their freedoms in exchange for perceived security and peace.

But you’ve also got something bigger at play. We alluded a little to this in previous shows about the big mega billionaires getting out of Dodge. Oh, that’s. Yeah. So Warren Buffett, sitting on cash. Blackstone, the real estate holding company, sitting on cash, not buying anything. They’re both waiting for collapses. But Zuckerberg sold $500 million, a half a billion worth of his own shares. Jamie Diamond, CEO of JPMorgan Chase, sold $150,000,000 of his own shares.

Jeff Bezos sold 10. 5 billion overall of Amazon, 10. 5 billion. Bill Gates sold everything, pretty much in his own words, I’m getting rid of everything because I want to give to philanthropy. His philanthropy is stupid. What he does with his money is up to him. Right, but the timing is precarious. Right, because it’s when all the other billionaires are getting out of Dodge. The only thing that Bill Gates didn’t really sell was his land.

He’s the largest landowner in America. I mean, he’s got so many acres because he’s realizing, and by that action, he’s telling us tangible assets are good, like real estate, like things like gold and silver. Tangible assets. And he’s getting rid of all the other junk that he has now. Another big one just from two days ago, or no, maybe it was four days ago, the Walton family that owns Walmart sold $4.

5 billion worth of their own shares. See, these are people that are not just getting out of the stock market. They’re selling shares in their own companies, their own companies. It’s like, you should be the biggest cheerleader in the world for your own companies. And yet they’re not. So I guarantee you they don’t think they have bad companies because most of these people are narcissists, and they think that they’re the greatest thing since bread.

That’s right. Therefore, they can overcome any hurdle in life and they’re going to be great. And their company is going to be great. So when they sell their own stock, what does that tell you? What’s the bigger picture? They think bidenomics stinks so bad. And most of these people are liberal democrats, right? They don’t even believe in the economy, that their own person that they voted for likes, right? It’s like they think the economy stinks, or else they wouldn’t be selling their own shares.

I mean, that’s just common sense, right? I wouldn’t. That’s why I can say that I wouldn’t sell the shares in my company. If I had a company like that, if I thought the economy was going to boom, and I’m a great manager, and I’m a great owner, and I have a great company, there’s no way I would sell my own shares. That’s right. But yet they’re selling billions of dollars worth of Lt.

I mean, this is so crazy. The stuff that’s starting to happen, that’s signaling there is something bad coming, right. And we just need to be wise stewards with what God’s given us. We have to use wisdom and discernment and creativity. And what does James, you know, in the book of James, it says, if you lack wisdom, ask God for some and he’ll give you more than what you ask.

This is what we need in this world right now, is wisdom, discernment, creativity to navigate through this. Because here’s one amazing thing about God. God’s economy is not man’s economy. Man’s economy is one of greed and power and corruption. Right? God’s economy is a God of peace. It’s actually an economy of prosperity. It’s an economy that gets out of debt. It’s an economy that’s based on giving out of your need, not just out of your abundance.

That’s God’s math. And when you live by those rules, your life will completely change. I mean, it will financially. God says, test me on this one, people. Yeah, that’s right. And be a giver. And be a giver with a joyful heart. And be a giver behind closed doors. Don’t be a giver and go up on stage and say, hey, look how much I’m giving. Aren’t I amazing? Don’t do that.

Right? That violates everything about giving, that is so amazing when you can give anonymously and really help somebody because that gives all the credit to God, not to you. Right. So when you start living like that, it’s amazing what God starts doing in your life. Yeah, it kind of reminds me as you bring that up, Dr. Elliot, our first interview was last year, around March, I believe, timeframe.

So we’re getting to that one year mark. Kind of makes me want to ask you once again, we have a little bit of time how you got started. I want folks to just kind of hear that when you talk about giving and where we’ve been, did you come from a billionaire family or something? Or did you grow, know, poor and you just dug into the word of God and watched how God’s economy works? I mean, how did this all play out for.

I mean, I’ve. I’ve accepted Jesus as my savior. When I was like five, in the kitchen with my mom, we were lower middle class, I would say struggled throughout life to even just have stuff. Even going on vacation was a rare thing and such a special treat. Couldn’t really afford to fly. We would drive somewhere close, and it’s just kind of, and my parents worked all the time.

They owned a restaurant, and literally they worked all the time. I didn’t see them very, so. But what did that teach me? A, I knew Jesus from a young age. B, my parents taught me how to work. They modeled. So. So then going through know, ultimately graduated from college with a marketing degree, went to grad school, international economics, international politics. And it was then where my daughter was born with major health issues and didn’t have insurance at the time, and it about destroyed us.

And I wish that we would have just had zero. I mean, literally, I wish that we were at zero. We were so far below, we had so much debt, and I saw no way out. And my wife would call and say, hey, hamburgers at McDonald’s are $0. 25 on sale. Can I get one? It’s like, well, we can’t afford it, but how can you say no to 25 cent hamburger, right? It’s like, sure, go eat, right? But that’s where we were in that moment.

God taught me something, and I’m glad that I was taught this as a young man coming out of college, right, which was, give me more. It’s like, God, I don’t have anything. And basically this voice inside my head, in my heart, said, give me more. Test me on this. And so we’ve always tithed, and this is where I was. I can’t say that I was angry at God because how could you be angry at God? But I was frustrated.

It’s like I’ve always tithed and why are we struggling so bad? So we started to give 20% instead of 10%. And it was granted lt, it was 20% of nothing. But it was a heart issue, right? And things started to turn around and we started to become more successful. And then after that I was doing stocks at the time in the late mid ninety s. And I told some of my clients, it’s like, hey, you should go to this gold company that I’ve been reading their newsletter.

I think it’s a good thing. Put like 5% of your stuff in gold. It’s like, well, and they got mad at me. They said, you can’t do that. You’re selling away. It’s like, I’m not selling anything. We don’t even offer it here. We don’t offer physical metals. So I left because I’ll always do what’s right for the client. This is where my philosophy of people over profit started.

If you always do what’s right for the client, profit will come, influence will come, abundance in everything. In life, relationships, everything. I’m not just talking financial, I’m talking about everything. And so this is where impact and influence started. And when I started at this company, here’s what happened. I was supposed to inherit a book of business. I basically inherited a phone book. Oh boy. It’s not really a book of business, but it is what it is.

I loved what I did. And so I’m watching tv and Jim Kramer’s shouting from the rooftops about stuff and just yelling on tv on CNBC, and it’s like, I want to be on tv. How can I get on tv? It’s like nobody on tv has a phd. So I got one. It took me like seven years. I got one though, in public policy, administration and monetary, economic central bank type stuff.

That’s what I got my phd in. Then because I’m a glutton for punishment, I decided if one is good, two might be better. So I got a second phd in theology. And this is truly where my passion in life, my mission life statement, so to speak. People over profit. How do you get that? When you mix theology with economics, that’s how you get people over profit. If you have economics without God, all you have is profit, right? So it’s like you put those two together, it’s like, man, this is a perfect combo.

Well it’s. Then impact and influence really started to explode. I was interviewed by Huckabee on Fox radio and did a documentary for TBN. And it’s know, Salem Communications radio, Clear channel. I mean, I was everywhere. And it’s like, this is amazing. And it all came because I learned how to give out of my need rather than out of my abundance. And so that’s how we modeled. Our company was on that same exact philosophy.

Amazing. This is how we charge the way that we do. 8% when you purchase, 0% ongoing, 0% when you liquidate. Keep it simple. Only do bullion, like low cost per ounce bars, 100 ounce bars, ten ounce bars, 1oz rounds, gold bars. You could do a 1oz gold bar, a kilo bar. If it’s not one of those things I just mentioned, don’t buy it. You’re going to be overpaying, overcharged, high commission stuff that somebody generally has to make a market to sell it that’s not liquid.

So people don’t like to sell it on tv because it’s lower commission. They want higher commission to pay for their commercials. That’s how the nature of this market, right? So we just did things differently from the jump. We did things differently and God blessed our company. And we’re growing immensely. And we’re helping tens of thousands of people all over the world, right? And you know what it goes back to? I learned how to give out of my need rather than out of my abundance.

And God’s word never returns. Void lt. Where he says in Malachi, give and give with a joyful heart. Give of your first fruits and watch what happens. Test me on this. I will open up the floodgates of heaven so much, you won’t have room enough to contain it. And then the next verse that comes after that is even better because it says, the locust will not eat your field, which means you’re going to stay productive.

And the enemy won’t destroy everything you’ve worked. There’s protection that comes from giving. This is a wild concept to think about, right? But the whole model of Christianity, God gave his son. His son gave his life so that we could live. Everything in Christianity is based about giving. So why not your business? Why not your personal life? Why not everything that you do view others as more important than yourself and just watch how the world around you starts to change.

That’s our company. That’s our little story. Amen. Amen. That’s a big story. That’s huge. A life just focused on the Lord sacrifice and watching how God blesses you. Kind of reminds me when I went to we used to go to a service in Viesbad in Germany on bass. And during offering, they always played a song. And I still remember that song today. They’d sing. It sounded something like this.

You got to give and it will come back to you. Press down, shaken together and rolling over. Give and it will come back to you. You got to give. Give to the Lord. It would make you just kind of dance a little bit and you’re like, hey, I like this. And it was a reminder every week how wonderful it is to just give back to the Lord all that.

It’s all of his anyway. And it’s just amazing how he’s used your company. You have definitely blessed our family when we brought our iras over and converted them over all to silver, actually, and just amazed and we feel so much, so blessed and so protected by you guys and we’re just thankful. So, guys, remember, you can go in the description box below andwino. com forward slash gold. Just click on that link.

You’ll be able to reach out to Dr. Kirk Elliott and his team, ask them any question that you have and work with them and you’ll be absolutely amazed. Anything you want to close with? Yeah. Don’t. Don’t operate out of a state of fear. Don’t. Most of the people that call me are gripped and paralyzed by it. But that’s not how God created us. He created us with sound mind and judgment and creativity and wisdom and intuition and discernment and everything that comes from God.

We’re created in his image. Fear is not one of those things. So if that grips you and paralyzes you, kick it back to the pit where it belongs. Right? And take that leap of faith and call us and we’ll walk you through the things that are giving you fear. And hopefully that starts to melt away and that financial anxiety starts to melt away as we strategically hear your dreams, your visions, your goals, your fears, what you want to accomplish, and map out a strategy of success moving forward using tangible assets like silver and gold to strategically hedge and ensure against the paper assets that we have that are coming down because of stupid legislation and political processes that neither any of us can control.

None of us can control that. But what we can control is ourselves and this decision. So I encourage you to take that leap of faith, not operate out of fear. Because fear does two things. It’ll cause you to either make a wrong decision or cause you to make no decision. Right. And we just want to make the right decision. So we hear, well done, my good and faithful servant with you.

I am well pleased. It’s the only thing I want to hear. Right. It’s like, good, let’s do it. Let’s operate in the gifts that God’s given us. Fear is not one of those gifts, but faith and love are, and that’s what we want to encourage people to operate in that. That’s right. Absolutely amazing. Well, let’s close in prayer. Heavenly Father, thank you once again for how you continue to guide and direct us through your word.

It’s absolutely amazing, your grace and your mercy in our lives, how undeserved we feel at many stages in our life, yet you continue to come through for us. You’re an amazing God, and we just want to, again, just say thank you for those that are listening, those that are strapped, those that are hurting. May they hear from you, be encouraged from you, through your word and through Dr.

Kirk Elliott and his team. Also, thank you for all that you are doing through their company. The vision that you provided all of them, their staff and more. The hard work that they’re doing for each individual is absolutely amazing. We just know that. We ask before you boldly to your throne that you would continue to provide protection for him and for all of them as the enemy definitely does not like what they’re doing.

We know that. You know that. And you’re just so amazing as you keep Dr. Kirk Elliott, that smile on his face as he lives in joy, regardless of all the circumstances surrounding him, the things that are going on there. So we just, again, thank you for all that you’re doing for us and through us, in Jesus name I pray, amen. Amen. All right, brother. God bless you. God bless you, too.

Have a good one. We’ll talk soon. .

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