4.28.24: LT w/ Dr. Elliott: Trump vs Biden on Economy Wages Mortgage rates inflation Silver/Gold steady Pray!
Summary
➡ The cost of buying a house has gone up by 146%, making it harder for people to afford homes. This could lead to a drop in the real estate market and lower profits for businesses. High interest rates are used to control inflation, but they also make it harder for people to spend money. People are using their credit cards as savings, which could lead to more debt and financial problems. The economy is getting worse, with people having less money to save or spend. Inflation is also increasing faster under Biden’s administration, which could lead to more economic problems.
➡ The article discusses the current economic situation in America, highlighting the country’s increasing debt and the potential for a severe economic downturn in the next two years if the debt isn’t managed. It also mentions the upcoming United Nations symposium in China, where topics like digital currency and biometric identification will be discussed. The article suggests that the economy might fail, leading to a period of hardship, but also a chance for renewal and growth. It ends by encouraging individuals to make smart financial decisions to secure their future, such as investing in stable assets like gold and silver.
➡ This text is a prayer thanking God for bringing people together, especially during tough times. It appreciates a team led by Doctor Elliot and the concept of gold and silver in the economy, which is also mentioned in religious texts. The prayer asks for peace and understanding for those living in fear and seeks continued calmness for everyone. It ends with a hope for another great interaction soon.
Transcript
It is amazing how he took care of my family and the updates he provides are just been unbelievable. The timing has been so good and we’re just glad to have you back. There’s been some strange things going on, of course, in the headlines a lot. They can’t stop talking about President Trump. The mainstream media, most people know my stance on him. We don’t worship him. He’s not God.
But I believe that he could be a leader that has been used by God to wake up this nation. And they don’t like him because he’s been going against the forces of evil. And it’s been that evil has actually been trying to put him in what many people think could be just gossip that’s going around that he could be arrested and his immunity taken away. But then we talk about all the time, Doctor Elliott, that if his immunity is gone as a president, that could end up in Biden’s world, Obama’s, Bush’s and all these others, that people are doing research and finding out some things about him, especially with Biden.
Recently he’s been exposed to the world where his dealings with Ukraine and other countries, personal with Hunter and his family. Yeah. So interesting how that plays out. Well, it is. And, you know, presidents, I believe, should, should have immunity. Right. But, but because they have no, so many national secrets and things like that that you just shouldn’t ever disclose to the, to the public. But here’s one of those instances where everything that we know about Trump, he doesn’t really have anything to hide.
Right? Everything’s been exposed. And so, yeah, if they’re going to do this, I would be careful if I were them because what goes around comes around. And if he has to not have immunity, well, okay, look at, look at Obama, look at Biden, look at Clinton, look at Bush, right? I mean, they’re going to go back and how many of them, you’re right, are going to be shaking in their boots because it’s like, wait a second, I thought I had immunity on this.
Now I’m going to have to disclose all this stuff right. If that happens, I would venture to guess there’s going to be a lot of people going to jail. That’s true. That’s true. You know, Julian Assange with WikiLeaks, you know, he’s a prisoner for free speech. Right? He gave out information, he’s a journalist. But they didn’t like it because he exposed all of the war gamers around the world.
And so, so that that’s part of it in that he act. They actually asked him. I forgot who it was. It was Megyn Kelly brought up, hey, so do you have anything on President Trump with all these emails you receive? And he said, we, we did look into him. We went through it all and we have nothing. Wow. So that was a big statement years ago. And, boy, you talk about shaking in your boots for these people.
Yeah, it could be a huge boomerang. And that kind of leads into Biden with all, if he’s got shady dealings with money, his personal life. Well, how does that bleed out into America? Right. You sent me an article to kind of show here, bidenomics after 38 months, six charts the media don’t want you to see. And you wanted to talk about this. I mean, this is fascinating. So the reason I want to talk about it, it’s an election year and there’s going to be all kinds of mudslinging.
There’s going to be lies and lies on top of lies and saying, well, we did this and we’re good. So let’s just look at some of the numbers and compare. So when Trump came in to office, what was the average gas price? It was $2. 42 a gallon in January of 21. When he, when he started, what was, what is the average gas price during Biden’s tenure in the White House? $3.
54. So gas has gone up 46% during Biden’s inflationary spiral. As they print money like there’s no tomorrow to provide funding for every stimulus under the sun. I mean, so here’s where little economics lesson, rising prices are not inflation. That’s a symptom of inflation, really. Inflation is nothing more, nothing less than an increasing money supply, because if you mushroom cloud the money supply, it devalues that currency and it takes more of that junk currency lt, to pay for valuable goods and services.
So to me, inflation is nothing more than an increase in the money supply, which is why probably, I think it was three years ago, maybe a little bit more. The Fed basically said, we’re not going to actually measure the broader money supply index, which is called MZM they will report m two, which is the money in the banks. Right. Your checking account, savings account, money market accounts. Well, it just goes to show if they want to pull money out of the system to actually get paper money to go extinct so they can usher in central bank digital currency, well, they want to pull money out.
So they’re saying, m two, money supply is decreasing, we’re tackling this inflationary thing. It’s like, no, you’re not counting all the money that goes to Ukraine, all the money that provides stimulus, all of that is not being counted. They’re just basically reporting the money that they are pulling out of the system, I believe to prepare for a digital world with digital currency. Because if you think about it, LT, you can’t have paper money, which is private, parallel to digital money.
That’s not. And what they want is something that’s digital because you could go to farmers market or the gas station, the grocery store, wherever, and pay $20 for something with a $20 bill and nobody knows that you did it. Well, you can’t tax something that you don’t know who did it. Right. So that’s why they want to go into this digital world. And it’s all about people control.
So I don’t believe for a second that inflation is 3. 2% or whatever they say it is. When gas prices are up 46, they’re fudging with the numbers. So here’s where in an election year, I want to compare and contrast a good leader versus a horrible leader economically. Right. So let’s go to the next one because the next one is actually even. Well, it’s not, it’s not the best one in this, in this group, but this is a good one because Biden keeps talking about how what he’s, Bidenomics is so great for America.
People are working, unemployment is going down, jobless claims, they keep bragging about them when in reality they create two jobs. When, when they, when an engineer, and we’ve talked about this like an engineer at Microsoft, loses their job and that person has to go get three part time jobs to make half as much. They would say that’s plus two. Two jobs created because somebody lost one and had to go get three part time jobs and they don’t even make as much.
Well, what I would want to look at more than those job numbers, which can be phony baloney, is what about wages? How much are people making? Well, every quarter since Biden’s been president or occupying the White House, whatever you want to call it, it’s gone down between 300 and $400. Income has people’s wages each quarter. So there’s four quarters in a year. That’s about $1,500 a year that wages have been coming down for the last three and a half years.
That’s wages coming down about $4,500 over that time for an average family, when prices have been going through the roof. So imagine you’ve got prices going up, wages coming down. No wonder America’s tapped out. No wonder that they’re putting so much on their credit cards and they can’t afford to live. This is the end result. The fruit on the tree of Bidenomics is wages coming down while prices are going up.
So, kind of, as a follow up to that, let’s look at the next one, which is mortgage rates. So what is the biggest purchase that a family kind of makes ever? Their house. Right. So, so when the. And nobody shouldn’t say nobody. That’s an exaggeration. Almost nobody pays cash for their houses. They finance them. Correct. So look at mortgage rates. When Trump started on his very first day, average 30 year mortgage rate in America was 4.
1%. On the day that he left was 2. 8%. So mortgage rates came down 32% while he was president. Wow, look what happened to Biden. Day that he started. It was obviously the same rate that it was when Trump ended 2. 8%. On April 4, it’s 6. 8%. So that was, what, a little over three weeks ago today, average mortgage rate, 7. 24. It’s spinning out of control.
So under Biden, it’s up 146%. The cost to buy a house. So what are the implications of that? Implications are when people have to finance a house and it’s now double, more than double what it was when he started. It’s like, people are going to be able to afford a lesser house. That’s right. So what does that mean? Real estate’s going to tank. People have less money at the end of every month to spend.
And when they don’t spend, corporate revenues come down. And corporate revenues come down, profits come down, and therefore stock prices. Right. So, but why do interest rates have to be so high? Interest rates have to be high to slow down the inflation that they’re creating, because that’s, there’s, there’s three ways that the Fed actually can slow, slow down an economy or speed it up. Number one is if you want to speed up the economy, you lower interest rates because the cost of borrowing is down, people will spend, or you could increase the money supply, kind of like that, that field of dreams movie, you know, build it, and they will come.
If you put money out there, people will spend it. Or they can tinker with the reserve requirement. At banks, those are the three things that they do. The reserve requirement is how much money does a bank have to keep on hand when you deposit something? So historically, it’s been 10%. So for every hundred dollars you deposit, they lend out 90 and they keep $10 in reserves in case, you know, people want to write checks or they want to take money out and withdraw it, they have to have money on hand.
During COVID March of 2020, the Fed changed that reserve requirement to zero to try to stimulate the economy, but that caused bank runs. So Silicon Valley went down, because if banks don’t have anything on hand, and under Biden’s economic plan for America, you’ve got wages coming down, inflation going up, more withdrawals and deposits. You’re going to have banks that start to fail if they have no reserves. So this tells me that the economy is going to get worse and way worse because people are tapped out.
And the cost of buying a home, which impacts everything where people live, you know, how much they can afford, it, infects an entire industry. And so, to me, that’s a big deal. But what’s a bigger deal? The next one. So, savings rates. So savings. This is where when you have money left at the end of every month, you’re putting it into savings. Right? Right. Savings rates under Trump were up 129%, which means the economy is expanding.
People had more money at the end of every month, and they were able to stash some away for a rainy day or invest or do whatever they were going to do. Under Biden, that’s down 72%. Which means what? Means people are dipping into their savings just to survive because they don’t have the money elsewhere. Well, here’s where I’ve found a lot of people call our office every day.
Hundreds. We have hundreds of consultations a day. Right. So look at what people are asking me. They’re saying, how can we invest? We’re afraid we’re going to run out of money. And what I’ve come to find out more and more and more is that people are viewing their credit card remaining balances as savings, because they dip into their credit card, you know, balance, and they’ll pull money out or do whatever it’s like.
That’s not savings. That’s a loan that you have to pay back. Savings accounts you don’t have to pay back. You’re saving it for a rainy day. And you use it right when you start to think of your credit card remaining balance as a savings account, that’s the end of the american economy as we know it, because ultimately, people are going to be way tapped out. They’re not going to be able to pay off their payments.
You’re going to have banks that have more delinquencies. A series of delinquencies equals default. People file for bankruptcy. Now you’ve got more pressure on the banking system. I’m trying to paint a picture here that what Biden is saying, that he’s good for the economy and growing it. Nobody should believe those words. Yeah. So that leads us to the next slide, and this kind of goes down to inflation.
Now, part of this slide, I completely disagree with. Part of it I agree with wholeheartedly. So under Biden, prices have gone up three times faster than during Trump. That part’s accurate. What’s not accurate is the numbers underneath. So in 48 months, prices went up 7. 8%. In 38 months, under Biden, 18. 9%. Those are the numbers that I think are very, very understated, because during Clinton’s presidency, they changed the way that they measure inflation.
They understated it a lot. And we’ve probably done eight or ten shows where we’ve kind of delved into this issue, how they change the way they measure inflation for political purposes, understate it so the government doesn’t have to pay out so many cost of living increases to the people that voted for them. I mean, that’s mean, right here we have. I think those numbers are probably triple, and the next slide will show us.
Show us why. So if you look at persistent inflation, does anybody believe that Biden’s inflation is 5. 5%? I don’t. So we shouldn’t believe that Trump’s inflation was 1. 9% either, because they’re using the same metrics. But in my first dissertation, I developed an algorithm to actually have a true measure of inflation. Basically, you take the number that this consumer price index shows, that, multiply it times 2.
8, and that should give you a true reflection of inflation, which, under Trump, that would put it a little around 6%, which I believe is accurate. Under Biden, that would put inflation closer to 18%. Just so those have been my numbers, as I’ve been telling people. I think true inflation is in the twelve to 15% range. Has been for a while. Because the true, the official measure of inflation is like three point something percent, like 3.
8. Multiply that times 2. 8. It gets us in that ballpark. Right. Well, last week we finally got confirmation from people in the Biden camp. And let’s see, not Biden, but Obama as well, which Biden is mini Obama. Right. It was his vice president. So one of the chief economic advisors in the Obama administration said, you know what, inflation under Biden is actually closer to 18. 1%. It’s like what? Somebody from your own camp actually told the truth.
And I agree with it because that’s, that’s even higher than my estimate. But that’s, you know, it’s probably in that ballpark. Twelve to 18%. Well, what did Larry Fink say? Larry Fink, big dog at Blackrock, said, nah, inflation right now under Biden is probably ten to 12%. We now have a couple of big economists that are agreeing with what I’ve been saying for ten years, that the inflation is understated.
And using my multiplier, it gets them pretty close to what these other economists are now saying. So what does that mean? Why is this important? Because if you’re not getting at least the unofficial inflation rate on your investments, you’re falling behind every single month. Because I’ve got clients that will call and say, Kirk, I’ve listened to you on show after show after show, you talking to LT, and, and I believe the stock market’s come down.
I’m just going to sit in cash, I’m going to pull out my funds out of the markets, put it in the bank and sit in cash on the sideline. Very defensive posture. Right. Five years ago, I would have said, that’s a great idea, put your money in the bank because we didn’t have banking crisis yet. But now when FDIC only has 0. 72% of all deposits actually insured, and they stopped stimulus money going to rescue banks on March 11, the bank temp funding program, which again on previous shows we’ve talked about that there’s no more stimulus money.
So if a bank is going to fail, it goes to FDIC. FDIC’s asset base after, before Silicon Valley was, they had enough assets to cover 1. 74% of all deposits, which is scary in and of itself, but now it’s 0. 74. So with five banks failing during Silicon Valley, the FDIC lost more than half of its assets. So what does that mean? We get another four or five banks that fail? FDIC is insolvent.
Then what’s going to happen to people’s bank accounts? They’re gone because there’s no funding to bail them out. But don’t worry, this is part of the plan. LT, because they’ve got central bank digital currency that’s going to come in and replace the broken system. That’s the way they’re going to message it. Don’t believe it for a second, because central bank digital currency, I believe, is the mark of the beast.
But in a time of crisis, people will want it. So this is where Biden has taken our economy and simply 38 months from prosperity to poverty because of his policies of entitlement, of stimulus money, of trying to fix something with borrowed money that’s broken. If you were to inject money into a system that you’ve actually earned, it could actually fix it. But only in America would politicians be so stupid as to say, let’s borrow money and create debt to pay off debt.
How does that make sense? It doesn’t. But in the land of political messaging, they think that it does. I’m telling you it doesn’t. So this is in an election year. I wanted to compare a strong economic leader versus a weak economic leader. And sadly for this comparison, we are comparing one of the strongest economic presidents in the history of America. I would put him up there with Reagan, even better.
And comparing him to the worst economic president in the history of America. It’s truly polar opposites. So when you look at these numbers now, people are starting to pay attention. So JP Morgan came out with or Morgan Stanley, same. JP Morgan Chase, Morgan Stanley, all the same entities. In essence, they’re all the same, part of the same family. So what did they say recently? Just earlier in the week, they made a statement that the next two years in America will be the darkest economic period that we think we’ve ever had.
And if we don’t fix the debt, the unsustainable debt, then it’s over in two years, they think that it’s over. It’s like, what’s over? Well, the economy is over in two years, we will have to have a system reset, like something, because the debt will be so unsustainable that you won’t be able to survive. It’s over? Well, okay. As I look at what’s coming up later this year, the United nations pact for the future is having their big symposium in Shenzhen, China.
And what are they going to do? This is on the United nations. They already have the agenda out on their website. They’re going to talk about everything that they’ve been working on for a couple of years, from unified ledgers to central bank digital currency to programmable money, to biometric identification, attaching you to your bank account, and they’re going to release it to the whole world in September of this year.
Right. So September of this year doesn’t mean that everybody is going to have central bank digital currency, every country in the world. No means that’s when their goal, their timeline is to release that to the public. So then it’s going to take a while for different countries and their central banks to adopt to a central bank digital currency system. Well, give that a year and you’ll probably have more.
Probably not 100% compliance, but pushing in that direction. Well, if Morgan Stanley thinks two years to fix the unsustainable debt and then it’s over, well, in two years you will probably have most of the world adhering to a central bank digital currency. That timeline actually adds up from these globalists and these bankers who want to steal our financial privacy, who want to steal all of that. So to get to that point, they’ve got to have more economic collapse.
Well, Jerome Powell, if you look at his talking points for the last year, they said, well, we’re going to have five to six, or, I’m sorry, it started out six to eight rate decreases during 2024 because we’ve won the war against inflation. Well, no, they haven’t. If they have, they would continue to lower rates. But they paused for the last seven months in a row. So now the talking points are, well, we’re going to have five to seven.
Oh, well, now it’s going to be two to three because they know they can’t lower inflation to where, where we talked about this. I can’t remember it was last week or the week before the different fed presidents starting their infighting and saying, we can’t have a rate decrease. We’re just going to have to pause. I just listened to a interview with the former bank president, Federal Reserve bank president in Kansas City.
I can’t remember her name, but she was saying, boy, we’re going to actually probably not have rate decreases, but I wouldn’t put it off the table that we’re going to start having rate increases. It’s like what that’s complete about face from what saying for a year now, this article confirms what she said, which is why the Fed keeping rates higher for longer might not be such a bad thing, because they’ve got a major problem on their hands.
If you lower rates when inflation is persisting, look at the first charts that we talked about. They are absolutely persisting. Under Biden, prices will go through the ceiling because there’s no deterrent to rising prices. The way they deter rising prices is to raise interest rates. But if you raise interest rates too high, you kill the economy in a recession depression because nobody will be able to afford their debt service.
So keeping them higher for longer. I think this is what I’ve been saying for well over a year. Their policy, because in their mind, you don’t want to go into a hyperinflation like Venezuela, Argentina, Weimar Republic, Germany after World War one, Zimbabwe. Nothing kills an economy quicker than hyperinflation. When people can’t afford to feed their families, that’s a worse result than people not being able to pay their debt payments and having to file for bankruptcy.
So they’re, they’re taking like the lesser of two evils, I believe, knowing that they have to kill inflation. Well, this is what Reagan did. Reagan did it. It was painful coming out off the Carter years because interest rates were 18% in 1983, but it killed inflation. It did it, and it didn’t take too long to do that. And then after that, rates started coming down, coming down, coming down created the biggest economic boom in the history of America that lasted over 20 years.
Because during the eighties and nineties, the real estate market boomed, the stock market boomed, and it was an incredible renaissance for America. Coming off the Carter years. Well, we’re going to have to get to that point again to tame this inflationary beast and this economy. I’m not being a prophet, I’m not being a prophet of gloom and doom especially, but this economy will fail. I don’t think there’s any other plausible outcome.
But when it fails, this is where I believe Jesus light will shine so much brighter because in times of crisis, people move, look for their faith, for hope and for a bright future. And I think we have to be taken down almost to our knees in prayer for this thing to get fixed. And I believe that’s where we’re headed, as in America. But policy wise, again, we’ve talked about all these things a lot, which I bring that up to say.
We’re not just making stuff up, but everything that we’ve talked about is actually coming to fruition. And it’s not rocket science, it’s just connecting the dots. When people can’t spend money, when they can’t borrow because the cost of borrowing has gone up, when wages are coming down, when all of this is happening, of course it’s going to affect the stock market negatively. And that means lower tax revenues for governments, lower income tax, sales tax, all of that.
It’s not going to be there. When people don’t spend and when they get laid off. So this is just, we happen to be alive during the end of a cycle. And it’s during that time when I think we need to be called on to be bright lights to our neighbors and to people around us who are going to be devastated and looking for hope. Now, politically, it’s up to God.
We can’t have a loud enough voice to, I believe, to make politicians change their minds. But individually, we can sure make decisions that can help our finances by identifying the trends, acting accordingly, getting into something that’s going to grow, that’s going to thrive. And in light of a world of bad news, financially, you can thrive, you can invest, you can create generational wealth. And that’s what we’re here to help people do.
Yeah, when you talk about generational wealth, I mean, that’s a big one for me. I mean, always thinking about my family, their future, and I think about even scripture where it says that we take care of our children’s children, we look into our future and God provides through us if we make the strong and right decisions in the future. And it seems even more biblical as we’ve talked for a year now, more than a year, that gold and silver just continued to hold their value.
And this paper, fiat currency is just, just floating around. It’s just sick. Especially with them just signing bills, sending money all around the world. Just, just craziness every day. One thing that seems to stay solid and the foundation is gold and silver. And you guys have provided that. And I’ve watched many lives changes. They brought their iras over and transferred them into mostly silver. We did all silver with you and it’s just a breath of fresh air.
It definitely sends a sense of relief for my family and knowing, hey, now that’s provided and for their, my future, my future children and children’s children and more. And so it’s, we really appreciate you guys. Hope you reach out to doctor Kirk Elliot am we know. com golden. You can have these conversations and more. Just watch your life change. A breath of fresh air, biblical responses and more.
I mean, you just can’t get better than that. And thank God for, for you guys, for sure. We can close in prayer real quick if you’d like. Absolutely. We think we need to. Awesome. Heavenly father, thank you once again. I mean, just, just thank you for how you continue to bring folks together through these airwaves. You provided a way for us to communicate, share with each other, especially when all the craziness is happening around us.
Especially the evil one who wants to destroy us, destroy our lives, destroy our families and more. We do have a solid foundation with you. We thank you for Doctor Elliot and his team, how you’ve placed them for such a time as this in this parallel set up economy that you’ve set up gold and silver. We’ve seen throughout scripture how it’s so amazing, even in heaven we see that description of gold, the paved gold roads.
And so we just ask that you continue to impress upon those that are listening, those that are out there living in fear, just a sense of peace and ability to understand that folks are out there willing to help. And you’ve provided these, these wonderful folks in a time that is so. We’re so desperate for answers. And so we ask for continued peace and calm nerves for all of us as we reach out to you daily.
And we ask all this in the name of our heavenly Father, through Christ our Lord. Amen. And amen. Amen. Thank you, brother. Looking forward to another great interview soon. Awesome. See you. .
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