➡ Dr. Kirk Elliott discusses the current state of the U.S. economy, highlighting the impact of recent political changes and the COVID-19 pandemic. He notes that while the stock market initially boomed after the election, it’s now slowing down as people realize the new president can’t fix all global issues. Elliott also warns of financial troubles in U.S. states, as they don’t have the ability to print money like the federal government and rely on tax revenue. He predicts that states will have to raise taxes and cut services, which could lead to a crisis in pension funds and cause widespread financial panic.
➡ People are worried about higher taxes and fewer services, including police cuts, not just in Seattle and Minneapolis, but in other states too. Some states appear prosperous due to government stimulus money, but they’re not really. These issues can’t be fixed by the federal government or by liberal policies of giving money to everyone. Trump plans to limit credit card interest rates to 10%, which could help Americans pay off debt or invest more for retirement. There are also discussions about changes in global money systems and the potential for gold to outperform stocks due to economic risks.
➡ The text discusses the potential rise in gold and silver prices, with hopes of gold reaching $8,000 an ounce. Silver is highlighted for its industrial demand, especially in electronics and bitcoin mining, which could drive its value up. The text also mentions the risks of digital currencies like bitcoin, which can be hacked or shut down, unlike tangible assets like gold and silver. The importance of investing in these tangible assets for future security and peace of mind is emphasized.

Folks, it’s great to have Dr. Kirk Elliott with us back again. And we know.comforward/gold in the description box below. Click on that link and you will be able to have the conversation I’m having with Dr. Kirk Elliott and his team anytime you. We always get these amazing updates and today, man, it’s been just phenomenal in the news this week. We’ve seen great appointments. He is just throwing wrecking ball after wrecking ball at the deep state and they’re probably all continuing in panic mode. Things are not going to be the way they’ve always been in our minds and it’s been phenomenal.

What do you say? It’s, it’s almost like a renaissance for America, right? We’ve been, we’ve been in this, these shackles and these handcuffs of kind of the globalist agenda, where we’ve had an administration that doesn’t care about America and they cared about the globalist agenda first. Well, now you’ve got other countries that are flipping out and scared and because it’s the opposite, we actually have a president elect who’s going to care about America and not necessarily so much about the globalist agenda. Right. So, so when that happens, you know, you know, this, the last week and a half, you know, since the election, what’s happened to the markets? Well, the day after the election, stock market booms, right? It went up like a thousand points or something crazy.

And gold and silver came tanking down. To me, that’s like this irrational exuberance. It’s the classic knee jerk overreaction to a big news story. It’s new president, that’s a big news story. As could be a change in interest rate policy, as could be the start of a war. Whenever you have something that’s big, there’s always an overreaction, either good or bad, right after that. And then kind of the dust settles a little bit and people realize, wow, Trump’s going to do amazing things for America, but the rest of the world, he can’t really touch it, right.

It’s like he can’t fix the commercial real estate losses in China. He’s not going to be able to stop. Maybe in America he can, but he can’t stop the march towards central bank digital currencies all over the world. He can’t stop a lot of the things and the debt imbalances that this debt is in. This world is in debt up to its eyeballs, right? So, but yet that’s what the markets were telling us after. It’s like he’s going to fix everything. It’s like, well, no, he’s going to fix America. Right. Lost freedoms do stuff like that.

But in fixing America, it’s actually worse for the rest of the world, which is fine with me because we’re Americans. Right. But when you put tariffs on foreign goods, that’s going to impact those nations negatively. Right. It just is. It’s going to make their stuff more expensive and people aren’t going to want them and, and they’re going to be hurt. And whenever you impact another country’s wallet, it’s going to have political ramifications. Right. So. So ultimately now you’ve got big banks, hedge funds, central banks around the world starting to realize a week and a half later, it’s like, okay, maybe things are going to get back to, you know, a normal outcome rather than just this blow up of Bitcoin and the stock market and everything else.

Right. Things are going to settle down and we’re actually starting to see that where the stock market’s just kind of slowing down. Gold and silver kind of hit their bottom after this and they’re starting to go up again. And so it’s going to be back to normal. Fundamentals rule the world and when in the investment world, I should say. So we’re getting back to that point. Yeah. You mentioned that this headline here you sent, why US States are in Financial Trouble. We still have a lot of huge issues when it comes to the money problems throughout the states.

Yeah. This is the thing that’s kind of lurking in the shadows, Right. That nobody’s really talking about because everyone’s so excited about how are we going to be able to tackle our federal debt? What’s Trump going to do to grow the economy? And what’s Elon Musk going to do? And Vivek and cutting all this waste. It’s amazing. It’s amazing. But states don’t have the same luxury that the federal government has, which is when the Feds run out of money, what do they do? Lt they just print more of it. That’s right. States don’t have a printing press.

The only mechanism that states have to make money is tax revenue, you know, like sales tax revenue or property tax or income tax, all that kind of stuff. Right. Or toll roads, you know, those kind. Those kind of things. That’s their revenue. And then they’ve got this expense side. So if revenue comes down and they still have expenses, well, they’re in the world of hurt. So then you start to say, okay, we can’t do anything about the revenue, we don’t have a printing press, so we’re going to have to raise taxes. So they raise taxes, and when people are already tapped out, they stop spending money, and it actually has a worse impact.

So then they start cutting things. Right. These are austerity measures, like what they did in France. Remember earlier in the year when France basically told all the retirees in a socialist country, it’s like, yeah, you’ve been paying taxes through the nose for your whole life. And when you retire, we were supposed to take care of you. Well, you know, sorry, but we kind of ran out of money. Right. And so what they did is they told all the retirees in France, like, you’ve got another couple of years. You know, let’s just say it was age 65.

And it’s like, well, you’re not going to get benefits until 67. Oh. And then when you do finally get them, we’re going to reduce those benefits by, you know, 20 or 30%. So you’re only going to get 70 or 80% of what you used to have. So they’ll extend the age, give you less. That’s what austerity measures are. This is where I think state budgets are going. Because since COVID all these financial pickles in the states have been kind of hidden. They haven’t really come to light because the states got about $800 billion, almost a trillion dollars worth of stimulus since COVID from the federal government.

Now that’s expiring, right. That stimulus is ending. So now states are up to their own mechanisms to generate capital and say, go nuts. We’ve got pensions that are underwater, we’ve got unfunded liabilities, we’ve got firemen, we’ve got police, we’ve got protection, we’ve got infrastructure, we’ve got education. And they’re going to run out of money. Right? So this protection that we’re seeing here Is states are $1.7 trillion underfunded in their pension plans. This is people’s retirements, Right. So, you know, a lot of our listeners aren’t in, you know, getting a state pension, right. Is their retirement. Some of them are.

But so, but the reason I want to bring this up is because this is going to apply to everybody in a kind of a weird sort of way in that the states are going to start to have to raise taxes. I know in Denver on this last election, like, half of the stupid ballot initiatives were raise taxes, raise the sales tax for this, raise the sales tax for that. Oh, we need to raise the Sales tax to actually build affordable housing for all the illegals that we let into our sanctuary city, right? It’s like, oh, and by the way, the tax dollars that, that the rtd, our bus and train system here in Denver, any excess at the end of the year was supposed to go back to the taxpayers, right? So, so there was a stupid ballot initiative, said, let’s change that.

So the excess, we just get to keep it. What? And the dumping passed. It’s like, world, what is wrong with people, right? It’s like, don’t reward people overspending, right? It’s just figure out how to live within your means, right? So, so there’s problems here. And the reason I want to bring this up is because when that pension system implodes, people are going to be scared silly, right? They’re going to say, my retirement’s gone. And that’s going to bleed out to other areas where even people who don’t have state pensions and they’re going to say, well, what about my pension? What about my private pension with my company? What about my 401k? What about this? If they’re running out of money because their investments are poor and because they’ve got more people in return, what about us, right? So that kind of philosophy starts to permeate through the hearts and minds of people.

And I see once you start to see pension funds running out of money, it’s almost like a run on the banks, right? Once you have one big bank failed and everyone thinks, I got to get money out of the banks, right? So, so this is going to have the same type of a, of a, an emotional carryover to other, other parts of life, even people that don’t have state pensions. And this is where I think states running out of money is going to start to scare a lot of people and they’re going to see much higher taxes and less services.

They’re going to cut police, and it’s not just going to be Seattle and Minneapolis that are cutting police, right? It’s going to be, you know, other states too, even prosperous states that were only pretending to be prosperous because they got stimulus money from the government, but in reality they’re not. See, these state governments that have their own legislatures, that have their own spending bills is something that Trump can’t really fix, right? Can fix the federal government. He can’t fix these liberal woke policies of giving money to everybody under the sun and some of these blue states, because it’s mostly the blue states that are having financial problems.

Yeah, interesting. The blue states too. Are the ones that had no voter id. So they just keep on themselves. It’s just, you know, there’s, there’s consequences to our actions. The Bible tells us that all the time, you know, and, and we’re starting to see that. And America woke up to that on this election, right? You sure have. You can’t even cheat your way out of it this time. It was, it was such a groundswell of support of, wow, yeah, we’ve, we’ve got problems. And so now this is where the rubber hits the road, right? It’s like you’ve identified that we have a problem.

You voted, you woke up. Now you can’t just rest on your laurels and say, okay, we won. It’s like, no, this is where the battle begins, not ends, for crying out loud. Right? So, so, and a lot of that’s a personal thing in the sense of, yeah, we, we voted public. You know, policy wise, we’ve got good legislators now and things are happening, but what do we do personally? Are you going to really work hard? If Trump actually limits the interest rate on credit cards to 10%, it’s like, what’s that? What’s just one of his policy proposals.

He’s going to tell the banks you can’t charge more than 10% on your credit cards. Well, most credit cards, even mine, I mean, I pay mine off every month. I don’t like to have debt, right? So I use mine like a debit card, right? But if I were to keep making payments, the interest rate on my stupid credit card, I don’t care if it’s my Amex or my Visa or MasterCard, it’s like 23%. Oh, my goodness. I mean, it’s insane, right? So, so this is what he wants, to cut that to 10%. And what would that do? It would gives Americans an opportunity to either, A, start really using that excess money that you’re going to have every month and pay down your debt, which is what I would recommend, or B, most of America isn’t going to actually just do that.

They’re just going to spend more. Right, because it’s so that one thing is going to stimulate the economy. See, Trump’s got a lot of plans, and what we need to do then with his plans is we can partner with his legislation by saying, you know what, thanks for lowering the interest rate on credit cards. I’m going to use that excess to pay off my debt, or I use the extra money I have every month and really start investing more for my retirement. Right. Rather than just spending More, why don’t you invest more? Right, so this is where we need to take action personally to correspond with the bravery and the courage that I think is going to come out of this White House and really start cleaning house nationwide.

Yeah, you bring up a good point. I mean, the money that you are saving through this next four, four to eight years, whatever how this plays out, the I mentioned eight. It’s just funny if 2020 comes back to us anyway, if we get that, then use that time to, to, you know, invest in your silver and gold. So when the enemy tries to attack again, we go into deep, dark times again. We’re prepared for that. I think that’s the way we should look forward. Yeah, I do too. I absolutely do. Yep. And so speaking of money and the, the whole world, it looks like Iran and Russia.

You sent me this one here. The card payment systems are officially linked into Iran. What is this all about? So we’ve been talking a lot about central bank digital currency over the last year and a half, how they’re moving towards that. Well, when, when Biden put the economic sanctions on Russia after the Ukraine war started and said, you can’t be part of SWIFT anymore, Russia went to China and they started their own program, which is what gave acceleration to the BRICs. Right. So getting away from the Western financial system for all the clearing house of financial transactions, that’s kind of what SWIFT does.

And so what moving towards what they want to do is away from a dollarized world. Right. And so now this thing that they did, it’s like a payment system, they’re linking credit cards. So people in India can just simply use their money in Russia, people in Russia can use their money in India, their credit cards. And it’s not like a foreign transaction fee. So what I wanted to bring up here is this is the first cog in the BRICS payment system, right. And two really big countries, Russia and India, it’s not like it’s some dinky countries.

So all it’s going to take is other countries to say, yeah, let’s do the same. Before you know it, you’re going to have a common BRICS currency with the digital backdrop and the technology through Project Enbridge with the bank for International Settlements, which by the way, the bank for International Settlements, I don’t know if you’ve ever done a show on it, but they’re like the most mysterious banking group in the world. They don’t have any oversight, none of them are elected, but yet they make banking policy for literally almost every country on the planet. They’re like the bankers to the central bankers, right.

It’s like, oh, my word. So anyways, when they’re working on this project with bricks, it’s like, okay, that’s actually more than just a couple kids playing in the sandbox. Okay. They’re going to change the way money is looked at globally. And this is the first step. And I think it starts to accelerate from here. Oh, my goodness. And so it just leads into. A lot of folks have had questions, Tom, past week. You kind of mentioned it in the very beginning here, but we’re talking about gold. I noticed some changes through gold this week. And you’ve, you’ve got some updates on that.

This one here. Gold could out gain stocks as economic risks rise. What’s this about? Yeah, so, so I, all of the end. We know listeners who call in and ask questions all the time. And I, I love you so much. Right. It’s like, but don’t be tricked, don’t be tricked into thinking, wow, Trump’s in office. Gold and silver gonna stink. Bitcoin is gonna be the most amazing thing ever. And the stock market’s gonna boom again. Yeah, I see a lot of them. I mean, but because that’s what happened over the last week and a half, right? I’m not discounting that.

That’s what happened. But even articles like this are saying what we started the show with this irrational exuberance, the, the overarching overreaction to a news story. That’s what happens. But articles like this saying, you know what, because we’ve got wars and rumors of wars, and because we have central bank digital currency, because we have a global debt system that’s about to implode. Right. And a change in the global monetary order, all of these economic risks, and the biggest economic risk to me globally is in a rising interest rate environment. Because we’re not going to have a low interest rate environment forever.

Right. We’re simply not with all the debt that we have. That’s the nail in the coffin to any country when they have debt up to their eyeballs and interest rates start rising. So this article is basically saying gold is probably going to outgain stocks. All the talk is on stock market booming because of Trump’s policies. Right, right. The economic risks that are out there, ultimately gold is going to outshine that. And the next article that I sent you is basically just a confirmation of that, which is on this bull run. You know, this, this upward trend.

We could see Gold hit $8,000 an ounce during this cycle. Okay, so, wow, let’s do some math, right? It’s like, okay, if we have. Let’s just. So let’s just say it’s 8,000 and the gold to silver ratio is 40, right? So what does that. What does that put gold or silver at? 200, 200 an ounce, right? It’s like, so here’s where silver always outperforms gold. When gold’s in a bull market, it’s one of those things where it’s like, Kirk, don’t ever say always. Don’t ever say never. Don’t ever. But literally, history tells us that when gold’s in a bull market, silver does better, right? So this is why we’re allocated into silver and not gold.

Even though these two stories that we just talked about are gold going up, silver outperforms. And I hope that gold hits $8,000 an ounce, like these economists are saying, because as the ratio starts to shrink between gold and silver at $8,000, gold at 40 to 1, that would put silver at $200 an ounce. It’s like, you joking me, right? And so. But ultimately we’ll get out of silver too, and roll it back into gold, right? Because our goal is to minimize risk, maximize return, every step along the way. So when I see stories like this, it excites me because gold is not a manufacturing metal.

It’s not an industrial metal. It serves one purpose to act as a hedge against collapsing confidence in the economy, against a collapsing dollar. It’s your insurance policy, or not just the dollar of any currency in the world. It’s your insurance policy against your collapsing currency. Silver does that too. But what silver has that gold doesn’t is the manufacturing and industrial demand. And in today’s world of electronics and everything else, the demand for silver is off the charts, right? And I was even reading an article yesterday, LT, about Bitcoin. You know, Bitcoin’s hitting $90,000, Bitcoin. And it’s.

And you know, it’s like, okay, countries are now starting to adapt this bitcoin thing. It’s like, okay, bitcoin is going to be good for some people, right? It’s not going to be good for, like, most of my clients who hate technology, right? It’s like, we want something that’s tangible and real. I’m not poo pooing bitcoin at all. But. But if people who want something that’s tangible and real, you know what’s needed for bitcoin mining? Silver circuit boards. All of the processing power that’s needed because it Takes a ton of energy, right, to, you know, power these supercomputers that are data mine or mining these bitcoin.

Right. That’s. It’s, you know, complex algorithms and how they figure out. But. But there’s processing centers all over the world that are. That are mining bitcoin. Texas is like the bitcoin mining capital of the world. Right? But. But all this processing power uses silver in the solder points on the circuit boards because it conducts electricity so well. So even. Even for bitcoin to go up, you need silver like you do for solar, like you do for electric vehicles, like you do for batteries, like you do for missiles and torpedoes in a war economy. This is where I’m excited and where silver brings something to the table that gold doesn’t, and that is the manufacturing and industrial capacity that it has, which is something extra that gold doesn’t.

Yeah, that’s phenomenal. I mean, man, what a great update on that. I mean, yeah, there’s. There’s just a lot. I mean, when you’re on social media, that’s the, you know, this talk of the town is bitcoin and, and silver going down and gold going. You know, you hear all this and you read it. And so to have your updates to keep us focused on this is really important. I definitely needed this myself just to keep us grounded. It’s a great reminder during these times of good things probably playing out in the next few years for all of us to save up and prepare for anything that would happen in the future and for our kids and our grandkids to prepare them to.

And do some good training on gold and silver and why it’s important. Yeah, absolutely. And so, you know, I’m not poo pooing bitcoin. I think bitcoin is going to be amazing. Right. So, you know, if you’re young, tech savvy can figure out how to open up a digital wallet to actually own your bitcoin, right. It’s like it is. Most of my clients don’t want to do that. Right. Which makes. And bitcoin’s a private transaction. It’s decentralized blockchain technology. Gold and silver are private transactions, too, because it’s a tangible thing. It’s not digital, it’s not paper, it’s not a certificate.

So when you look at both of those, they almost fit the same kind of mental space in people’s minds of, I want something that’s private. I want something that will kind of withstand the test of time and not have big brother’s nose sniffing around everything. Right. So it fulfills that, it fulfills the need for growth. Right. What I think that why I like tangible assets even better than Bitcoin is because it isn’t digital. Ultimately anything that’s digital you could shut off with the flip of a switch. If you figure out the IP address where they’re coming from.

Like Coinbase did with Russian bitcoin. Well, with people who had their bitcoin through Coinbase, the Russia conflict started Russian IP address. Coinbase shut off and said, you can’t access your money. You don’t have that issue if you have physical gold and silver. Right. So anyways, just another way that we can protect, preserve, grow and thrive and have peace of mind when we sleep at night is to allocate some, all whatever you feel comfortable with in your portfolio. That’s up to you. And everyone has a different profile of what is it that gives me that peace of mind.

Right. So do whatever you do to make yourself feel comfortable. But I can’t encourage you enough to take advantage of this price dip and gold and silver after the election. And if you’re sitting on the fence, allocate more into it and just take advantage of these trends. They’re here for us to identify. Being a wise steward with wisdom that God gives us. And then we have to have the boldness, the courage to actually act. Amen. Amen. You know, you mentioned one real quick before we close on protection. Protection is a big one too. I mean, we’ve got silver with you now or Ira and so much more.

And we’re watching all of this play out and we’re so glad that we’re a part of this. But you know, I was talking to somebody that actually had some bitcoin, I believe, and you decentralized, whatever, but somebody hacked into his account and took a ton of it out and he says, I can’t do anything about it because I’m not protected. There’s no protection over it. It’s just, it’s gone. Who am I going to complain to? Well, you just went out there and thought you were just going to make all this money and now it’s gone. Yeah, well, you know, if you’re protected, you come, you know, especially getting your silver and gold, you’re protected.

It’s placed in a certain place for you so that, you know, you have access to it when you need to. And I think that’s a big part of this that I didn’t hear much about until I talked to that, that individual this week. And realized the importance of what we’re talking about now, getting that to the biblical sense of silver and gold. And I think that’s important. And just a reminder that folks can go to you right? They can click on the link and they also can place a phone call to make these transactions. Is that correct? Yep.

720-605-3900. That’s 720-605-3900. Just say lt sent you. And yeah, we can do it that way or you can go to and we know.com Gold either way gets you talking to one of my schedulers. That’ll get you, you know, a meeting with us so we can talk, listen, hear what your goals, your fears, your aspirations, what you want to do. And we’ll help you craft a strategy of success moving forward using tangible assets as the basis for that protection. That’s amazing. Absolutely amazing. Dr. Kirk Elliott, this is a great update. So needed with all that’s going on.

You know, a lot of good news, a lot of folks on high, of course, and of course, getting just back to level ground and making sure that we’re all, you know, hearing these updates. Definitely grounded on what our heavenly Father has for all of us. Thank you so much, Dr. Elliott. We look forward to next week’s update. Sounds good. We’ll see you.
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