9.29.24: LT w/ Dr. Elliott: Silver up 4 in one day East + Gulf Coast Ports to Strike Chinas economy in trouble PRAY!
Summary
➡ China is trying to stimulate its economy by reducing mortgage interest rates and implementing a large stimulus. However, these measures may not help if people don’t have money to spend, potentially leading to inflation. This situation is similar in the U.S., where attempts to avoid a recession may also cause inflation. The anticipation of an inflationary economy is causing the value of gold and silver to rise.
➡ The economy is facing challenges such as potential port shutdowns, China’s massive stimulus, and the Federal Reserve lowering interest rates, which could lead to a hard landing crash. The solution suggested is to focus on tangible assets like silver and gold, which have shown to increase in value during inflationary pressures. The article also highlights the importance of investing wisely and considering precious metals. It ends by emphasizing the role of faith and community in navigating these economic challenges.
Transcript
And many folks who are worshiping these guys as if they were their gods and going to all their concerts and going to the movies, they’re starting to discover what we’ve been talking about for four to six years now of what’s been happening behind the scenes. And it’s ugly. It’s really ugly. And some of the stories that are coming out of the entertainment heroes that people have, it’s like, I don’t know why they’re heroes and I don’t know why they’re allowed to talk about politics when they’re morons. Right? But anyways, this is a microcosm of the social decay that we’re seeing in America.
And what happens to when you have a society where God is kicked out, right, but people are hurt, kids are hurt. I mean, the extreme hardcore of humanity is being exposed. And I’m afraid what comes next is it’s not just entertainment people. It’s going to be well known religious people. It’s going to be potentially national security issues as politicians are involved. You know, some of the stories that are involved, it’s like this is going to be this tentacle spreading out throughout America, which is going to create more chaos, more uncertainty of and questions like who do we believe? It’s like, we can’t, we’re not going to believe that this kind of stuff is happening.
This is just like some kind of a false messaging of some sort. It’s like, no, it’s not. That’s right. Yeah, yeah, yeah. There’s been a heavy focus, I mean, on a lot of folks wondering, well, where do I turn now? Especially when you’re talking about the leaders of churches, many of them we hear on the airwaves for many years, downloaded their sermons and more, and they’re starting to step down one at a time. And it’s happening across the board and it’s really encouraging for us to really get involved in our local communities and just scream it from the rooftops how important it is to be with our neighbors in our houses, just talking about the word of God and what he’s been doing in our lives, how powerful that is.
My favorite is going one on one with folks and just teaching them. Amen. I mean, and all of us who are believers, who trust Jesus for everything, right, our, our religious leaders need our help, right? They need accountability. They need, they need elders, they need deacons, they need people speaking into their lives. So these kind of things that I’m afraid that we’re going to hear ugly stories of, we’re going to say, how in the world did that happen? Well, a lot of stuff can happen with a void of leadership and with absolutely avoid of leadership, absent of God, anything can happen.
Right? So, so we’re seeing this politically. We’re seeing this economically. We’re seeing this in banks, for example. Like, you know, I was reading the story earlier this morning. Jamie Dimon, who’s the head of JPMorgan Chase, right? He’s jumpin ship. But, but what did he, what is he saying? He’s saying geopolitics is, is getting worse and worse and worse. And he said if we don’t fix this, it’s, it’s not gonna be a good ending. So somebody who, who’s on the very forefront of the globalist movement, right, one of the largest bank in North America, is now actually talking more like you and I.
I think people are starting to see the light and wondering what’s real and what’s not. And these lies that have been perpetuated for decades. Decades. You know, at some point, what does the Bible tell us? It tells us that light will always cast out darkness, that the truth will cast out lies, that lies will always be exposed, that the wages of sin is death. And we’re starting to see all of that. LT, that’s right. Yeah. You know, you talked about leadership and decisions that are being made around the world that are having an effect on all of us.
This headline right here sent to me from Reuters. China’s central bank unveils most aggressive stimulus since pandemic. Why is that a big deal? Okay, so when it comes to lack of leadership, what has China done for like the last ten years is they’ve been building ghost cities, they’ve been building infrastructure. Their banking system is in complete disarray. Lies baked into truth, which taints the well and everything, right? So their whole economy, in my opinion, has been based on debt and the Bible is very clear. A borrower is a slave to the lender. Well, now, this has gone on for so long, they’re in more dire straits than America is.
I mean, their economy is just in disarray. So they did the mother of all stimulus lt this just a few days ago. And that is, I’ve never seen a stimulus this big. Right. We’ve seen stimulus omnibus spending packages continually raising the debt ceiling, massing trillions of dollars of debt every single year on top of the debt that’s already there. So now our interest payments in America are over a trillion dollars a year. A trillion. Right. It’s like what? That’s like 20% plus of everything we bring in as a nation is to pay off debt. Well, China’s worse.
So what is China now doing to try to stimulate their economy? They’re doing more than what the Fed just did. So the Fed last week, as we talked about on the last show, is they lowered interest rates by 50 basis points. Now you have Fed Governor Bauman, who said she was the only dissenter of everybody in the Fed that said this isn’t really all that great for numerous reasons. Number one, she said this exposes that they think that something’s wrong. You wouldn’t do a 50 basis point cut if things were healthy. Like if you were sick, Lt and you go to the doctor and you think you’re sick, right? The doctor says, oh, no, you’re healthy.
You’re perfectly healthy. But yet we’re still going to give you medicines. Like what? I thought I was healthy. Well, we’ve been hearing from the Biden administration. The economy is good. We’ve got inflation in check, wages are fine, unemployment is coming down. When all of that’s a lie. How do we know that that’s a lie? No reason whatsoever. They would do a 50 basis point rate cut if things are okay. Because when they lower interest rates, it’s for one reason and one reason only, to try to stimulate the economy. Right. Well, so here’s the problem with that.
I mean, I’m an economist. I spent my adult career investigating and studying this stuff. Well, they’re trying to avoid the r word, a recession going into the election. So if you lower interest rates, they’re going to stimulate the economy. In theory, that would work. The problem is America is in debt up to its eyeballs. Most of America is living hand to mouth. Like we talked about last week, we have a negative savings rate, which means people are digging into their home equity lines or credit cards. They don’t have any more savings. So I don’t care if they lower interest rates to zero.
People don’t have any extra money to spend. That’s not going to stimulate the economy. All it’s going to do is make matters worse. Because when you lower interest rates, when inflation isn’t fixed, it’s going to make inflation worse. So this is why Fed Governor Bauman dissented. And I agree with her. It’s like, all right, she’d actually be a pretty great person to replace Jerome Powell under a Trump administration because she’s reasonable. She understands what’s going on. So now look at what China just did. It’s way worse than just a 50 basis point rate reduction. So what they’re doing $500 billion yuan stimulus, that’s half a trillion yuan.
I mean, that’s massive. Right? So, but it didn’t stop there. They’re also lowering the reserve requirements at all chinese banks, meaning banks don’t have to keep as much on reserves. They can actually lend out as much as they possibly can for stimulus and to get money out there, lend it to the people so they can borrow. Right? So we saw this in America during COVID they changed the reserve requirement to zero. Zero. Banks didn’t have to have any money on hand at all. So it’s like you wonder why Silicon Valley and Signature bank and First Republic and all these banks went under, right? It’s because when people have more withdrawals than they have deposits, because bidenomics stinks and the banks have zero on hand by, by decree 0% reserve requirement.
It’s like what, when they don’t have any money and people are pulling money out, what’s going to happen to the banks? They’re going to go under. So China is now following that same fateful path. They’re lowering the reserve requirement to try to get more money out there. Now, they also did one other thing. So they have $500 billion yuan stimulus, lowered the reserve requirement. They’re also reducing everybody’s mortgages in China, everybody that has a mortgage by half a percent. So it’s, even if they had like a 30 year fixed rate, right. Imagine you getting a note from, from Wells Fargo or wherever you bank at.
It’s like, well, yeah, we know you have this interest rate that’s 5% on your mortgage. It’s now going to be four and a half. People are going to celebrate. Hopefully they have more money left at the end of the month that they can spend. The problem with them, with this whole system is when people are living hand to mouth paycheck to paycheck, including the United States. This is, this is how we are right now as a country. And you lower interest rates. I don’t care if interest rates go to zero. If people have no money to spend, they don’t have any money to spend, and interest rates could be negative and they still have no money to spend.
All it’s going to do is increase inflation. China is going through the same fateful path. Right. So now what are the implications of this? The implications are we’re going to see more inflation and China, one of the largest economies in the world, America, the largest economy in the world. Okay. That’s two big players where they’re trying to stimulate the economy. When people are tapped out, they have too much debt. It’s going to create inflation. So what responds well to inflation? Gold and silver prices, so on. Let me see. Excuse me, I have to cough. On Tuesday of this week when this news came out, what happened? Silver went up a buck 40, over 4% in one day because the inflationary pressures are persisting.
Now the perception is reality. Moving forward, people are starting to realize we’re going to enter into an inflationary economy. Things go up with inflation, gold and silver things. So to me it’s like, LT, this is everything we’ve been preparing for. We cant stop the policies coming out of DC. We cant really change them without a large collective voice, but we can sure identify them and act accordingly. This is why weve been shouting from the rooftops for over a year. Its like you better get into tangible assets because this day is coming. Well, this day is here.
Now that were seeing this, these are probably the reasons why globalists like Warren Buffett are dumping their bank of America shares. That’s right. $7 billion since July. Everything that we’ve covered. And we’re ahead of the news like we’re always ahead, which is just biblical wisdom, right? It’s holy spirit empowerment in our lives that we can see these things and act accordingly. Where most of the public, most of America and most of mainstream media, if we were to have a slogan, tomorrow’s news today, that’s kind of what we’re talking about. Well, most of America’s, today’s news today.
But you look at some of the podcasters out there, a lot of mainstream media, and it’s like, all right, we’re going to talk about news from a month ago today. They’re so far behind the eight ball, they’re hurting people. It’s not helping people. And this is why I’m so passionate about being able to identify these trends, what causes inflation, what causes deflation, what causes markets to move in either direction. And then we can act accordingly, because here’s what they need to avoid in America, which is why they lowered interest rates and why China’s lowering rates and doing everything they can possibly do.
They need to avoid the r word. They need to avoid recession during an election year. And this goes back to Bill Clinton. Whether you love him or you hate him, there’s a lot of reasons why you shouldn’t like them. But when it comes to politics, he understood it. He said, you know what? People vote with their wallets. He said, it’s the economy, stupid. It’s like he’s right. He’s 100% dead on. Right. And so they need to avoid that at all costs. But here’s where the net result of that in 2025 is probably going to be all right.
Jerome Powell says he’s going to lower interest rates, not just now, but maybe another 50 basis points in November, December, and then a couple more next year. What is he saying? He’s saying that he’s trying to stimulate the economy. So I think what happens in 2025 is policymakers think, oh, my word, they didn’t kill inflation before they started lowering interest rates. Now everything’s getting overheated, prices are going up. We’re going to have to jack up interest rates. I think that’s coming in 2025. And this kind of upheaval. Lt is going to impact the markets, literally, like the mother of all impacts.
People are not going to really realize what hit them if they’re not prepared. So this is why we want to get people prepared prior to this stuff happening. Yeah, that’s right. And it’s amazing. We’ve got so much going on with China. The other one that you highlighted here was dockworkers likely to strike at east and Gulf coast ports. How is this all connected with what you’re sharing today? So this is an interesting one, which is more domestic to the United States, but the longshoremen’s, you know, kind of union, they’re, they’re wanting to go on strike, and they’re, and basically, based on what they said, they’re going to go on strike about 36 days prior to the election.
Well, who are these longshoremen that are going on strike? It’s the ports from Maine all the way down the eastern coast. So it would include, you know, New York, like New Jersey ports, Virginia Beach, Savannah, Miami, all the way to Texas. Right. It’s 41% of all of the container, you know, cargo coming into America comes through those ports. Well, if they go on strike, which they’re saying they are absolutely going to, this won’t be fixed until sometime in 2025 at the earliest. So what if they have all these ships coming in? The ports are shut down.
These ships are going to be sitting in the ocean somewhere, not being able to get into port, which means there’s going to be nothing on the store shelves. Right. So this stupid article that you have on the screen, they’re trying to minimize the impact of this and say, whoa, this could be really bad. Imagine if there’s nothing on the store shelves for the Christmas shopping season. Oh, my goodness. What? Who cares about squeak toys and teddy bears and tvs and all that stuff? We’re talking about food and everything else coming in. This is going to have a dramatic impact on America when 41% of all the cargo coming into America might not be available until 2025.
So economically, what does this mean? It means if there’s no supply coming in, what’s going to happen to the store shelves? They’re going to be empty. That’s right. And what happens in economics, this is economics 101 that I, when I would teach it, you know, guest lecture at colleges and whatnot, you know, supply and demand. There’s this equilibrium price. If there’s no supply and demand is there, well, then prices are going to go up, right? If there’s an abundance of supply and no demand, the prices come down. Have to get rid of this junk before the inventory gets stale.
What we’re seeing right here, low supply, not just demand, but increasing demand. As people can’t get anything, prices are going to go through the ceiling because of supply chain disruptions. Now, you add to that the unrelenting printing of money, which is inflationary. Supply and demand, which is inflationary, and people just need to survive. They need to feed their families. They need to get stuff. I think we’re headed for a massive inflationary spiral. And then you’ve got Kamala, who’s doing interviews on CNN, CNN. So put this into perspective. And the broadcaster, the news commentator on CNN, is asking one of Kamala’s spokespeople, this bald guy with glasses, nothing against bald people.
But anyway, so what are they saying? It’s like, is the economy, are Americans better off than they were four years ago? So what was the answer? Well, we’re going to focus on price gouging with consumers. What? Oh, my goodness. You’re not answering the question. I mean, this went on four times, literally. Well, are Americans better off? He didn’t answer my question than they were four years ago. Well, Kamala grew up in a middle class family. It’s like, what so, so did, most people are, is, are Americans better off than they were four years ago? Right. This went on and on and on and they kept deflecting because they can’t answer.
And I don’t know why I, they would suddenly have a conscience and say they’re not going to lie about it. It’s like, no, they’re worse off when they lie about everything else. But they can’t say when she’s pretending that she’s not an incumbent, she’s distancing herself from Biden when she was in the White House for four years during all of this stuff. It’s like, I’m new, I’m going to change things moving forward. It’s like, who cares if you think you’re going to change things moving forward with unrealized capital gains taxes and higher taxes and price gouging, which always, you know, those kinds of things that puts price caps on things.
This is all inflationary stuff. And they deflect every real answer to something that doesn’t make sense. But when you look at the economic reality of the things that are truly happening now, the ports being shut down, China doing the massive stimulus that theyre doing, the fed lowering interest rates, that is not indicative lt of a soft landing, meaning soft landing. When you hear that fed speak word, means theyre just trying to avoid a recession. Thats all that that means. But everything that theyre doing, a 50 basis point rate cut and all the stimulus means theyre not expecting a soft landing.
Theyre expecting a colossal hard landing crash. And they’re going to do everything that they can do to try to stimulate this economy. But the reality is, I don’t care what they do with interest rates. It’s not going to stimulate the economy when Americans are living hand to mouth. And the really crux of all of this is BriCs. The BriCS nations having the petrodollar status taken away because they got rid of it. I mean, they’re trading in their own currencies instead of the us dollar, which means that we have to print our way out of everything with no built in demand for our currency.
As I look at this, I don’t mean to be the bearer of gloom and doom. I don’t. But I’m not in charge of the economy. I’m just reporting what’s happening in the economy because there are solutions. There’s solutions. And we’ve talked about this. I don’t know. I remember the show. It was maybe three or four months ago when we talked about Peters, you know, getting out of the boat and walking on water. The problem, there was a storm. It was scary. It was awful. What was the solution? Focus on Jesus. And he actually walked on water for a bit until he started focusing on the storm.
Then he sank. That’s right. Most of America is focusing on the storm, not on the solution. We all know that the ultimate solution is Jesus. He can get us out of anything, right, if we follow him. But economically, the solution is going to tangible assets. When we can’t discount the fact that when these inflationary pressures hit the news, silver went up over 4% in one day. Those trends are going to persist moving forward as things continue to spiral out of control. Mm hmm. That’s right. I mean, we get back to this just about every week. I mean, the reminder is everything seems to be falling apart around us when it deals with.
When they’re dealing with fiat currency trying to get ahead. But again, it seems like every time we’re one step forward where they think they’re doing the right thing. Well, something sneaks up. Now, this, with the ports possibly shutting down. I mean, that has to do with cars and car parts and vegetables and fruit, furniture, all kinds of things that Americans want for the holidays. What about truck drivers? They’re going to, you know, have to probably slow down, so their jobs are going to start falling apart. Warehouse workers aren’t going to have their jobs. Factory workers are going to feel a slowdown.
I mean, every time there’s a strike, it has an effect across our entire nation and, of course, the entire earth. And it just makes me realize once again, the. The power of having silver and gold at such a time as this, because it’s going to start going up even more as we watch things fall apart. And that’s why it’s so important to get involved now. I mean, today with these precious metals, it’s biblical. We’ve talked about this over and over again. And so it’s encouraging to have these reports, especially flying in from all around the earth, letting us know how it has an effect on each of us as Americans.
That’s for sure. It really does. I mean, you just said something that was so impactful, and that’s the truckers, the shippers. What happens to ups, Fedex? What happens when you’re. When you’re buying a BMW or a Toyota or a Mercedes or a Volkswagen that are coming into the east coast ports and they can’t get in. What’s going to happen to the auto dealers? What’s going to happen when, when you’re buying an iPhone or an Apple computer? Yeah. It might be based in Cupertino, California, but it’s got to come into a port somewhere. None of this stuff is manufactured in the United States.
That’s right. I mean, so imagine what’s going to happen to Amazon. Good grief. Most of the stuff that I get on Amazon is probably not manufactured in America. Yeah, that’s true. So imagine what’s going to happen. So that article, which was focused on what’s going to happen to the Christmas spending time, it’s like, well, that’s going to be bad, but you’re missing the boat. What about bananas and pineapples coming in from some island in the Caribbean? Right. It’s like they’re not going to get in, that that produce is going to rot on the ships, on the cargo containers because they can’t get in.
And that’s going to impact those economies as well as they’re not going to get paid for it. Right. This does, I mean, this wasn’t even covered a week ago. I guarantee you that these longshoremen have been talking about a strike for some time, but no media outlets were covering it. Well, so now it comes out and now it’s exploding. And people say, how could this possibly happen? I’ll tell you how it happens is because of the economics of Biden, higher inflation, higher taxes, higher cost of borrowing, lowering wages, higher unemployment, and now because of all the inflationary pressures, these workers saying, we need more money, we’re going on strike unless we get paid more.
This is all inflationary. But the inflationary spiral mushroom clouds when you add everything else into it. That’s right. Yeah. Especially. It just reminds me, too, on this election year with President Trump, I just keep hearing in my mind where the reminder is that China is building these factories right there in Mexico. And he says, look, I’m going to do a 200%, 300% tariff if you’re going to bring these products into America. It’s just a reminder of this election, how important it is, too, of having everything built in America, energy independence and so much more. But biggest of all, it’s just the reminder of, of how we invest our, our time and our money.
And one of them is definitely with precious metals. I just can’t get that out of my mind. It’s been in my heart. And my hope is that folks will wake up to this and realize they can get some, some help, especially from folks that they can call up Doctor Kirk Elliott and his team and he even mentions folks, Doctor Elliott, that you’ll even call and say, hey, could I get some prayer? And folks, and you guys will pray with them. And that. That is phenomenal. It’s phenomenal. I mean it’s our heart. It’s just who we are.
As a believer, it’s not just about business to me as a Christian, it’s not just about my relationship with Jesus. And in my world they all blend together because that’s who we are, right? To me this is. Some people might think that this is a horrible thing to say, but work is ministry to me. When I can, when I can pray for people, help them bring peace in the midst of the storm. And I’m not saying I’m Jesus, of course not. He’s the one that brings peace in the midst of the storm. But there’s people in place to do things.
Whether you have counselors, whether you have financial professionals that understand the times we’re living in, where this community of believers comes together and we can start bringing peace in the midst of the storm. And that’s what it’s all about to me. It’s like this, this business that we, that God has created that we’re just participants in, it’s for a higher purpose than just protecting people’s assets. It’s much more than that to me. Evan. Amen. Amen. Folks. You can go to amwaynow.com gold. It’s in the description box below this video. Just scroll down there, click on that link and you’ll be able to reach out to doctor Kirk Elliot and his team and have these conversations that we’re having today.
So amazing. So amazing. Well, we thank you so much, Dr. Elliott. We look forward to talking to you again next week. Can’t wait. It’ll be fine.
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