➡ Dr. Kirk Elliott discusses US economic status, expressing skepticism over real GDP and its purported growth. He argues that official figures rarely reflect reality, as statistics often get revised lower a few days later. Dr. Elliott also voices concern about high job cuts in tech giants, suggesting this may reflect either a failing economy or the swift replacement of human jobs with artificial intelligence. He criticizes the concept of debt-driven growth, calling for a focus on real growth driven by actual money spent on real items.
➡ While the U.S Treasury is often viewed as a no-risk investment, the concept of debt-based growth is misleading and unsustainable. Outward economic growth, fueled by irresponsible spending and unchecked debt, can lead to economic instability, inflation, and rising interest rates, as is currently seen in the U.S. The value of tangible assets such as gold and silver, however, tends to remain relatively stable and can serve as an effective hedge against inflation.
➡ The text discusses the reliability of gold and silver as a safeguard against economic inflation and societal decay. It emphasizes the historical purchasing power of these metals being largely unaffected by inflation while explaining current societal changes, such as robbery and unethical activities due to economic challenges. It also touches on political interference potentially leading to social decay. The text advises using gold and silver as a way to secure one’s position amidst these impending societal and economic shifts, expressing a strong faith-based perspective and encouragement.

Hard to believe it’s been another week. Dr. Kirk Elliott. So much going on. We’ve been amazed at your updates. They just come to fruition each and every day, and we’re excited to have another update from you. We’re at forward slash gold. You guys can go there in the description box below. Reach out to Dr. Elliott and his team at any time, and they’ll be there to support you.

It is absolutely amazing support. So what do you have have to show us today on the GDP and more? Well, couple of things. And first of all, happy Labor Day last weekend. So I went fly fishing with my son and wife and my nephews, and we actually caught fish. I’m not a good fly fisherman, but I’m getting to know how to do it right. So it’s awesome. I caught three trout, some rainbow trout.

My son caught a rainbow trout and a small mouth bass. And so, yeah, we had a really good know. As I was out and about listening to a lot of shows, reading news, just looking at things, one thing became perfectly clear. Whenever Biden is speaking about the economy, he’s lying. Literally. I don’t even know how else to say it nicely. It’s just lying. You’ve been doing media for a while, and there’s times when you make mistakes, right, and you say something, it’s like, man, that was just wrong.

I was wrong. I need to apologize. I need to recant what I said and apologize. Well, the government and I was thinking, because I saw three reports that came out, three different numbers. I think the GDP number came out in, an unemployment number came out and something else, and they revised the numbers three days later. It’s like, how in the world can something that they’ve been working on for a quarter for, like, literally three months and these are not stupid statisticians, right? They’re working for the Treasury Department.

The BLS? They come up with their number. It’s reported on three or four days later. It’s always revised lower, like clockwork. I got thinking, oh, there’s a system to this madness, right? Because you being in media and you say something, and you recant your position, you apologize. Nobody ever covers or listens to the apology. They always cover the first story. So here I’m thinking about, okay, they say their story, they report it.

They know that it’s fabricated or lied to begin with, but then they can say, truthfully, we didn’t lie. See, we gave the apology three or four days later and revised the numbers lower, but nobody ever covers that lower number. So it’s as if it didn’t even happen, right? So literally across the board, this happens. And so you start to lose credibility in the system as this goes on and on and on and on, because nobody even knows the numbers.

So case in point, there I was watching some major financial networks, financial news, I think it was yesterday or the day before? No, it wasn’t over the weekend. It must have been on Friday, right? So I’m watching it and they said, oh, so these numbers came out, but we’ll wait and see what the revision numbers come out at. Why even report the real numbers, the first ones? If you always know that there’s going to be revision, why can’t statisticians and economists get it right the first time, right? That’s right.

So the point is they don’t want to. They don’t want to because that’s the number that’s going to be reported. They want to over inflate how great they’re doing because Biden is just gaslighting everybody saying how great the economy is, how many jobs are being. So I went back and looked at an article that was posted in January and then it was revised in March. But it tells a different story than what Biden’s saying.

Right? So it’s all about the job numbers. So Amazon cut 27,000 jobs. They just announced another 9000. Meta, 21,000 jobs. Alphabet 12,000 jobs, which owns Google. Microsoft, 10,000 jobs being cut. Crypto. com 500 jobs cut. Doesn’t sound like a big number, but that’s 20% of its workforce, right? Coinbase 2000 jobs. Dell, 6650 jobs. Ebay 500 salesforce, 7000. Twilio, 1500 jobs. Twitter, 3700 jobs. Brother, I could keep going on and on and on, but see, these are real companies that are laying off real people.

I will believe those numbers because they’re actually real. I’m not going to believe it that the economy is doing well and unemployment is coming down because the number of people working is going up. So then I got to thinking one other these, a lot of these are big tech giants. Amazon google Microsoft, right. And with the AI stuff, artificial intelligence you and I have been talking about, that’s going to be the wave of the future.

You would think all these tech giants would be hiring people hand over fist, right? They’re not. They’re laying people off. Which tells me one of two things, but possibly a combination of both. Number one, Biden’s economy is really bad and he’s lying about it again. Number two, everything we’ve been talking about, artificial intelligence is actually happening and people’s jobs are being replaced with computers already, right? Maybe it’s a combination of both.

Right. So I’m looking at that and then I see an article earlier in the week on Zero Hedge and it was one of the scarier articles I’ve seen in a long time. It’s called rising GDP plus rising yields equals a major sign of, uhoh it’s like, all right, sounds like who knows what this is going to be about, right? So I’m starting to read it goes a little bit in depth, so I’m going to simplify it for everybody watching.

Right? So every Federal Reserve regional office, like St. Louis Federal Reserve, they specialize in interest rate reporting. The Atlanta Fed, which is this one’s about, is about GDP reporting. So they silo it. So they have the experts working in each area to really maximize their articles about the Fed now basically reporting service that they have out of the GDP now sorry. GDP now out of the Atlanta Fed shows 5.

9% growth in the gross domestic product. So gross domestic product is a reflection of everything you and I are buying and selling at retail prices, at stores, and it adds all of the stuff up from everybody in the country that’s buying something that was made in America, right? That’s gross domestic product. So if I were to go to the Target and buy this pen and it was made in America right, then well, then it’s going to be part of the GDP, right? Same thing for you, same thing for anybody else.

Right. So 5. 9% growth with a spike surge of maybe 8. 9 is expected. Well, okay, I don’t care if those numbers are real or phony, actually, because the comparison I’m wanting to make is it doesn’t matter because if it’s a reflection of everything that we’re spending money on, then it’s going to reflect the inflationary prices that we’re seeing at the grocery store, cars, everything, right? So unofficially, inflation is at 15% to 20%.

We’ll just put it in that ballpark. Well, real GDP now, real growth estimates real GDP 5. 9%. It’s like a third of what it really is. Which means what? Doesn’t mean that they’re 10% off. It means that the economy has shrunk literally by 67% by two thirds. Okay? Inflation is at 15%. They’re, like, at five. Well, that’s one third of that. That means we’ve had contraction in the economy by two thirds of what it should be.

This is wild, right? So you look at what’s happening, but that reflects the inflationary prices. Now in this article that was written by I want to give the guy credit where credit to do Matthew Pipenberg. He’s some kind of a researcher with GoldSwitzerland. com, right? So what he’s talking about in here is how debt driven growth is not growth. It’s not. And he’s absolutely 100% right. The only times there’s growth in the economy is when lt you and I make money from doing our jobs or anybody, and we go and buy something like this pen or this phone or this remote control, right? And then that’s actually real growth because we’re spending real money to buy real things.

That’s growth. Of course, debt driven growth is not growth. That’s actually worse than growth because it’s debt stimulus money injected into the system to buy things, which is just borrowed. Basically. They just print money out of thin air. Here’s the issue with that. When they’re considering debt driven growth as growth, it’s not like these economists, the Treasury Department, the BLS, it’s not that they’re stupid. They’re just telling you the wrong information.

They’re misleading you on purpose. Because the answer to growth and if an economy is growing, rests in the bond market, pure and simple. Right? And I’m going to explain why. Because if you look at bonds, like a US. Treasury bond supposed to be the safest asset in the world, it’s a 30 year bond from the United States. Very big country, right? We’re very wealthy country. We’ve got ingenuity, we’re manufacturing service industry.

And for all intents and purposes, we’re never going to default on the treasury on the 30 year bond because we have a printing press. And if we get close to it, congress is just going to raise the debt ceiling and it’s never going to default. Right. So investors around the globe have always viewed falsely, the US. Treasury as a no risk investment. There’s no such thing as no risk.

Right. It’s a dumb thing to say, but they view it as no risk investment because it’s the safest asset in the world. And because it is, any government treasury, any sovereign debt treasury, which is by a government, should have the lowest interest rates on the planet, unless you’re like Venezuela, right? Oh, my word. Their currency is safe, but the US. Treasury should have a very low interest rate.

Whereas, conversely, let’s say you’re Michael Milken, the biggest junk bond trader of all. He’s he’s calling you up and you say, hey, lt, but I got a deal for you today, right? We’ve got this company, they’re probably not going to be around nine months from now. They might go bankrupt, but they need some capital to be injected so they can stay in business. But because it’s so high risk, we’re going to pay 15% premiums on their bonds, right? So that’s the difference between a junk bond and like a US.

Treasury with is the safest asset in the world, right? Here’s where it starts to get weird. So debt based growth to me is an oxymoron. Can’t have it can only have real growth, right? Debt based growth is no growth at all. So that’s an oxymoron. Well, who believes oxymorons? Morons. Right? So they’re the ones that actually wrote this stuff and saying that debt based growth is amazing. Look at Biden’s economy.

This is incredible. Right? So it’s truly debt based growth is the oxymoron work of morons. Right. So let me tell you a story that kind of will amplify this for all the viewers. And any of the viewers who have college age boys are going to realize dr. Kirk is 100% spot on on this story, right? Let’s just say, Lt, that you’re a frat boy and you go to college and you’re living in the fraternity and you’ve got all these other people in the fraternity that are also frat boys, right? So the frat boys get a credit card from their dad and they go to college, and the dad’s paying for the college, giving them this credit card so they can live life, right, and focus on their studies.

Well, what’s the thing that all these frat boys are going to do with their dad’s? Open ended credit cards. Well, they’re going to buy a bar. They’re going to build a bar in their frat house, and then they’re going to stock the bar with top shelf liquor, right? And then they’re going to say, wow, we can’t just have that. Let’s get a big screen TV, the biggest we can find.

And then we have to have this big sectional party couch, right? Because we’re going to have parties there all night. And we’re going to sit on the couch and watch football and watch all these shows and drink beer from the bar that we built in our frat house. And what happens to their grades? Their grades go from A to B to C to D, and they’re failing, right? Because they’re not focused on their studies.

They’re focused on partying from their dad’s open end credit card. So the next thing that happens is the dad calls them up and said, son, we got a problem. I’m cutting you off. No more credit card for you. Right, because everything they spent their money on has squandered their opportunity in life, right? So. Now view Washington, DC. As the frat boy and view Daddy’s credit card as the printing press, right? So the people in DC, the frat boys, they’re printing money like there’s no tomorrow to fund every stimulus under the sun.

And we’re getting a failing grade. Wages are coming down, unemployment is going through the roof. Everything’s bad is. The Federal Reserve is the daddy’s credit card. The rest of the world is actually the daddy because they’re actually buying our US. Treasuries with the assumption that it’s a safe investment. They no longer view it as safe, so they’re cutting it off. So we’re not going to invest in US.

Treasuries anymore at all. Period. We’re done. We’ll go somewhere else. Which the BRICS nations meeting that we had a couple of weeks ago has amplified this story in real life because they’re taking away the petrodollar status. They took away the reserve currency status by adding Saudi Arabia and United Arab Emirates, and then Argentina, Egypt, Iran, and Ethiopia into the BRICS nations. By January 1, they basically became the world’s new petrodollar, all oil.

At least 70% of the population in the BRICS nations are trading in their own currencies, not the US dollar. That lack of demand or investment into our Treasuries is going to cause us to print money like there’s no tomorrow, which will create more inflation, which will then cause interest rates to rise, right? So this is the cycle that we’re in. So when you have rising interest rates and rising debt at the sovereign debt level, that doesn’t happen very often.

It happens with muni bonds, corporate bonds, everything else, but we’ve got interest rates on the rise at the sovereign debt level, which means people don’t think it’s a safe investment anymore because credit’s drying up where we are. And this is the same tale of the drunk and the stupid that’s in that article, but apply it to the national level. That’s what we’re doing. Lt. And that reminds me of this video clip that we have.

We are officially in a silent depression. I played this in a video earlier this week. I’ll play it now in a silent depression. When you compare the Great Depression to today, this is going to absolutely blow your mind. In 1930, during the Great Depression, the average home in America was $3,900. The average car was $600, and the average monthly rent was $18, or $216 a year. And the average salary was one $300 for the year.

Fast forward to today. It is $436,000 for the average home, 48 grand for the average car, and the average rent is $2,000 a month or $24,000 a year. And we have a $56,000 income for the average American right now. So if you look back to the Great Depression, the house was only three times the average salary. Now it is eight times the average salary. The car was 46% of the salary.

The car today is 85% of the salary. And here’s the craziest part. The rent was 16% of the average salary. It is now 42% of the average salary. There is no way we can sustain that. No way. No. So here’s the interesting thing. When biden’s out there gaslighting and saying that wages are going up, employment’s going up, unemployment’s coming down, we’re growing, we’re thriving, what this tells us is that wages aren’t keeping up with inflation, and they haven’t for a long time, right? Because those are the prices that have gone up.

Wages aren’t keeping up with it. If the price of a home went from three times annual earnings to eight times, prices are going up faster than our wages are. Which is why when we go to the grocery store and we buy groceries, like, man, our money just doesn’t go as far as it used to. That’s right. And that’s the same thing that people say every single time. It’s like, man, things are getting expensive.

It’s because they’re falling behind on their wages. But you look at those numbers again, there’s something really interesting that we can do to actually thrive right in this. So look at 1930. A house was $3,900, right? 2023, 436,000. Is that 436 or 456-43-6436? Let’s view this in terms of gold. So back in 1930, gold was $20 an ounce, 3900 divided by 20, it’s 195oz of gold it took to buy a house.

Okay? Houses today are 436,000. It’s like, whoa, that’s expensive. Gold is at 2000. Divide that by 2000, it’s still about 195oz of gold it takes to buy a house. Okay? Right. So what does that tell us? Wow, the house has gone through the roof, right? But it still takes the same number of ounces of gold. So if you would have bought gold in the 1920s, 195oz for a total of $3,900, and you just held onto it until today.

Turn it in, you’d have a $436,000 house with those same 195oz that you spent $3900 on. Right. So here’s where, over time, precious metals like gold and silver are the best insurance policy ever against a collapsing currency like ever. Right. Because if you start to view things termed in priced in gold rather than priced in dollars, you start to realize, oh, wow, gold is like this best insurance policy ever against the inflationary pressures of the Fed.

That’s a great point. Yeah. And silver is even better because silver is outperforming gold because of the inflationary pressures, the unsustainable debt that we’re seeing, the low inventory, the manufacturing demand, the supply chain disruptions, all of that. Silver is simply outperforming gold. But the key point in all that is tangible assets over time are going to maintain your purchasing power. Parity gives you the same stuff that you could have bought 30 years ago, 40 years ago, 50 years ago.

When you think about it another way, in the 1920s, 100 years ago, 1oz of gold would have bought you a finely tailored men’s suit or shirt to tie a belt and shoes that was worth $20. You can’t even buy the socks today for $20. But that 1oz of gold, which is the equivalent, still gets you the finely tailored men’s suit or shirt to tie a belt and shoes.

We can do example after example after example, right. But the point is, look at what it takes to buy a car, right? So to buy a car in 1930, it would have taken 30oz of silver. Right. Buying a car today at 48,000, at $2,000 each, well, that’s 20oz of silver. Right. So actually, the inflation in cars is much worse. We actually can use less gold than we could have back then to buy a car today.

But you can use this, apply this to any number, right. Any college tuition, medical work, anything. And just see, wow, gold is really fantastic. Silver is even better. See, this is what puts a smile on my face when we listen to the horrible news that we talked about on the air today, right? How GDP numbers are lying, how all of these things moving forward is going to be the slow death of the dollar or the fast death of the dollar.

We don’t have to frown about that. We can smile because we can have be in the right place at the right time. That’s right. Yeah. We were even talking about this week, the drop in home purchases, 45% drop. So folks are having a hard time. I mean, they can’t go out and buy homes now. I’ve noticed even when I go to a lot of these stores nowadays, they have self checkouts.

More and more of these are popping up everywhere. We’re like, where are the people? Just want to talk to folks. And I like going through the checkout line and saying, hi, and how was your day? And just normal interactive activity. It’s starting to fade away too, so it has an impact socially on all of us. I definitely feel like we’re going into this weird dynamic where I would love to get back into a trading system for sure.

Well, you just brought something up really interesting. So I’m a history buff, like you are, and throughout history, every time there’s an economic collapse, it’s always followed with social chaos 100% of the time. Like not even partly 100%. So, case in point, this week, earlier this week, I think it was on Tuesday, I saw this report from Washington DC, giant Food. So Giant Foods is like a big supermarket, like Safeway or Albertson’s or Kroger or something like, right? So so there was a picture of the store shelves empty, like truly empty.

And I didn’t read the article first as a headline, I was just looking at the picture and it’s like, this must be a picture of the grocery stores in Florida before the hurricane hit and they’re clearing off the shelves. Right? That wasn’t what it was about at all. It was about stores in DC are taking all the name brands off the shelves, replacing them with generic store brands because they’re being robbed and shoplifted so much.

Right? So that’s part of the social unraveling where you can justify something that’s unethical at a higher order to something else. So, for example, families that might be very good people, they are justifying shoplifting stuff because they can’t feed their family to them. It’s a higher moral code, it’s a higher order thing to feed your family than it is to steal. So even though stealing is unethical and immoral, it’s not as bad as letting your family starve, right? So you start to see the fabric of the country.

Eroding, it’s like this decadent lifestyle. It’s like depraved. Look at that. I mean, they’re taking all the brand name stuff off. So then you have even one bigger issue that’s coming. What’s the next step? Political action starts to get involved in the social decay of society. We’re seeing this with Adam Schiff in California. So Adam Schiff is bringing these things about Trump from J Six to Light, and he’s saying, you know what, there’s no way that Trump can even be on the ballot in some states, right, because of Section Article 14.

Section three of the Constitution says that any political office holder can’t maintain an office if they’re involved in an insurrection or aiding and abetting those who are. Right? So they’re saying January 6 is that Trump was aiding and abetting in an insurrection. Right? So then Schiff goes on to brag about it. And this is what’s dangerous. Whether the person’s on the left or the right, it doesn’t matter if the person that you’ve got that’s the clear front runner for the presidency, nomination of your party, and somebody else says, no, you can’t even run.

You can’t be even put on the ballot, you’re going to get ticked. I don’t care if you’re Democrat, Republican, independent, whatever, right. So they say, well, the law doesn’t actually state that you need to be convicted of the crime. You just have to kind of be involved in it. So here’s where the rule of law is changing in society, which is going to lead to the social decay, which is now you’re guilty until proven innocent.

Right. You don’t even have to be convicted of the crime. You just have to be acknowledged that you were there. Right. So people can sue anybody for anything at any time, right. Doesn’t mean that they’re right. Just means that in America you have the right to sue somebody. Now you’re going to be found out if it’s phony baloney. Right. But this is where the rule of law in America is going the way of the dodo bird.

And this is where the moral fabric of society is going to go the way of the dodo bird, too, without a rule of law. And this is what always follows. Economic catastrophe is social upheaval and decay, and we’re seeing it. So here’s where we then get to profit from that by being wise stewards of what God’s given us. Be in the right place at the right time, allocate into silver.

For now. I wouldn’t even do gold, I would only do silver. And that’ll get you in the right place at the right time, thriving during the midst of this chaos. That’s right. Yeah, it’s perfect to go into that area with all that we’re seeing each and every day. You talk about lies and I bring up all the time, who’s the father of lies, the enemy, Satan. And he’s been a liar from the beginning.

And around all of this we just have the reminder that we can rest in Jesus Christ, our Savior, and all the things that go on in the world stage. And you bring up a great point all the time about the parallel economy that you believe is coming and we’re going to be able to thrive through that, especially when we make the right decisions. And I believe that’s why we’ve been connected.

It’s just a wonderful point in time, I mean, for all of us. So I want to remind everybody, and we know gold, that’s where you can go in the description box below, they’ll reach out to you, dr. Kirk Elliot and his team, within 24 to 48 hours. They’re really busy, got a lot going on. A lot of people are jumping on board and we really appreciate that. Good news.

A lot of folks emailing me telling me what type of support you’re bringing, so we appreciate that. I want to lift you up in prayer as we close. Thank you, Heavenly Father, once again, thank you for Dr. Elliot and his team. Thank you for all they’re doing for humanity in this really strange world that we live in. It is a positive move to all of the things that we see the enemy bringing, especially the lies in our face each and every day.

We ask that you continue to protect them, protect those that are working hard behind the scenes to protect our nation and protect our finances. And we know that we can trust you with all things. And we know that all things work together for good. To those who love the Lord, to those who are guided according to your purpose. And we ask all this in Jesus name. Amen. Amen.

Amen. Thank you so much once again for a great time. We look forward to talking to you again next week. It’s a pleasure. We’ll talk soon. .