A Discussion with Jim Willie | Untold History Channel
Summary
➡ Untold History Channel is discussing the current economic situation, highlighting the increasing value of gold due to concerns about government debt and potential default. He suggests that the government’s debt is unsustainable, leading to difficulties in selling bonds and a need to print more money. This, along with other factors like supply chain interruptions and rising insurance costs, is causing inflation. The speaker also warns about the safety of keeping large amounts of money in banks and encourages investing in gold and silver.
➡ People are buying more gold and silver as they believe their value will increase soon. This is due to factors like increasing government debt and price inflation. Some believe silver will break the $30 barrier and increase rapidly in value. This shift from traditional banking to precious metals is complex and influenced by global economic conditions.
Transcript
We’re live there, Mister Willie, and looks like I caught him just at the time and he was changing something. How you doing there, Jimbo? Doing okay. Um, you know, dealing with a lot of stuff. That’s my way of saying I’m getting the shit kicked out of me. Um, I’m dealing a lot of stuff, Ron. I think there’s a lot of stuff. I know I don’t know anybody who’s doing well.
I don’t know nobody. Right. I’m hanging in there. I’m well fed, I’m well rested. I’m not well funded. And my wits are about me. And what I’ve done recently is come up with a lot of reasons why gold is going up. And you know, if you listen to the news, watch the news, if you read various Wall street interpretations, you get an idea, but you don’t get a good idea.
What I’ve been hearing is that, pardon me, what I’m hearing for reasons why gold had broken out, well, there’s some price inflation in the, in the system and we got, we’ve got a lot of government debt and we’re going to handle it all. Well, that’s wonderful. To me, that’s very shallow. I don’t want to build a straw man. But honestly, if you’re out there looking for information on why the gold market is breaking out, you don’t get really good information.
And I’m tired of the crap that we’re constantly subjected to. I have something that I’ve been making clear or trying to make clear for the last couple months and I’ve already been misquoted a few times and it’s not a big horrible thing. But I have not said that we’re going to have a bond default and government debt default by June or July. I have not said that. I have said something very close to that.
I said that we’re going to have talk and debate about a treasury bond and government debt default by June or July. Talk and debate. Now you got to go back to propaganda 101. If they’re debating something, then it’s probably a reality, right? We are facing an intolerable and unsustainable situation with the treasury debt and I think it’s going to get worse. I think we’re going to have trouble with auctions, bond auctions for securitized government debt in the form of treasury bonds.
Some people don’t know where the bonds come from. We run a government debt. They need to securitize the debt so they guarantee it with the government and have a bond issued. They sell the bond, they take in money, and that covers the operating costs in deficit for the government. Okay. So they securitize deficits to make bonds and sell the bonds. I think we’re gonna have a lot of trouble selling the bonds.
I gotta say, Ron, that there is a wild card in the room and it could be the exchange stabilization fund. That is a wildcard. And I do not know to what extent that wildcard is being used. They have the potential for using the ESF exchange stabilization fund. They have the ability to tap it. I don’t know if they will. But one thing is for sure in my mind, if we’re due for a crisis and we get smooth sailing, then it’s not just from monetizing the debt, you know, printing money to cover the debt.
It’s from some other source that’s enabling a smoother ride. All right. Anyway, I’ve mentioned the government debt default. That’s a very big reason for gold going up. I think it’s getting, as I say, sniffed out. Yeah, I smell a debt default. They can’t manage this. There’s a distinction that I learned a long time ago. It’s the St. Louis Fed. It’s not very well known to most people who even follow the Fed, but the St.
Louis Fed is where the statistical experts are. That’s where the model builders are. That’s where they do the calculation for velocity of money and gauge it with respect to money supply and economic growth. They’re all interrelated, and it’s not simple at all. Now, one guy said to me, Jim, you know, you could work for the St. Louis Fed if you wanted to. Yeah, if I wanted to work for the government and the fed, sure, I probably could get a job at the St.
Louis Fed. That’s where your statistical expertise lies. So two weeks ago, when the St. Louis fed came out and said, the government debt is unsustainable, I paid attention. I don’t know how many people pay attention. I don’t think very many pay attention. The most statistical model makers and analysts said that it’s unsustainable. Okay? To me, that means they’re saying down the road we got a default, but we don’t know how far down the road.
And I look at the $8 trillion in long term maturities, long term bonds that are maturing this year. I look at the 2 trillion in short maturities. I keep saying that. And short term treasuries that are maturing this year. And then add to that the two plus trillion for the deficit this year. That has to be securitized. You’ve got the potential for 12 trillion, which is a trillion dollars a month, Ron.
That’s why they’re saying it’s not sustainable and gold is going up because they know good and well we got to print money to cover it. There are many, many other reasons. When we monetize the debt and don’t drain money from the system, the banking system, it’s called sterilizing. If it is unsterilized, it goes straight into price inflation. And we’ve got other problems causing price inflation. We got supply chain interruptions, including the Baltimore bridge that, that hasn’t been fully examined.
You know, I laugh because I kind of sit on my watch. Okay. All right, here we go. And what was it 2 hours ahead, the full analysis on the Baltimore bridge and. Yeah, okay. Right. In other words, they have no idea and they’re making shit up. I’m tired. I’m tired of being lied to. And it’s not hard to determine that you’re being lied to. All you have to do is use your brain.
Okay. We got supply chain interruption that’s causing higher prices. We got something that is very diabolical. I believe insurance companies are doubling and tripling their home insurance premiums, the costs, and they’re in league with the banks to steal properties. If a mortgage does not have insurance, the homeowner must hand over the keys and be eliminated as a default on the mortgage terms. Mortgage is a contract. I asked this question.
How many people who sign up for a mortgage regardless obtaining of fire insurance as a challenge? I never did, not once. I probably been involved in about eight or nine mortgages. Some of them were refinances of the same property. But yeah, you got to secure fire insurance. Okay, I got that. I’ve got the. I don’t know what they call it. The binder. I got the binder from my fire insurance company.
All set. Well now that’s not so easy to get. And I have numerous clients tell me they’re paying triple for fire insurance compared to. Okay, that’s just one example of price inflation. And it’s not, you know, for standard goods and services. Well, it is for standard services. We’re getting bombarded with higher costs and we’re being lied to that the price inflation is only like three and a half percent.
We’re being lied to if the unemployment rate is like 4%. You know, here’s a really easy formula, people. They’re telling you that they have a 74% participation rate in the labor market. Well, what’s the un participation rate? 26%. That’s our unemployment rate, 26%. What they give you is the percentage of people who are actively receiving state unemployment insurance. I don’t look at that. I look at the participation rate because they’re giving you the information.
That’s all you need to know. One minus that is the unemployment. We got 24, 26% unemployment. We probably got add 6% or 7%. We got eleven or 12% price inflation. These are why. These are part of the reasons why people are buying gold. They’ve also got a real big problem with their own banks. Holy mackerel. I keep reading that these banks are insolvent. They got $740 billion of unrealized losses.
These are all reasons why gold is going up. A depositor. Okay, I’ve had, oh, gosh, I’ve done about 720 consult calls now, in four years and three months, and I gotta say at least 40 to 50 different. There’s a bird on my ledge. How that is so cute. On about 50 different cases, the question arose. Jim, I got 28,000 in my bank account. Jim, I got 120,000 in my bank account.
Jim, I got 470,000 in my bank account in two different banks. Is the money safe? And I say, no. Why don’t you move a bunch out and buy some silver? I don’t know how to do that. Can you help me with that? And that’s what I do. I help them out. Okay. Lots and lots of people. A year and a half ago, the big question was, I got half a million dollars in my bank account.
I just sold a property and I’ve been holding off on buying another. Should I wait? And I said, only if you wish to buy it much cheaper, or only if you wish to pay too much now and see it drop in value. I mean, these are basic questions. So people are exiting the banks and buying silver and gold. And to be honest, it’s easier to buy gold. They’re denser.
You could buy with $10,000. You could buy, you know, you could buy seven coins and put them in your hand. I think we’re going to see a decline in the gold and silver ratio real soon. By that, I mean I believe we’re going to break $30 in silver real soon. And everybody tried to pin me down, and I tried to escape the pin. I’ll just say that there is a building.
I don’t want to call it consensus. There’s a growing group that believes silver is going to break out and just wreck the $30 barrier. This year and I’m in that group now. Let’s just say silver goes. Let’s keep it nice simple numbers because I mentioned the Fibonacci here before. I mean like 1020, 30, 50, 80 for silver. I’ve mentioned that before, Ron, have I? Not you. Yes, you have.
Ron. Yeah. Come here. Okay. You froze up on me. Okay. If we wreck the $30 barrier, which is, you know, three years ago it was a $30 barrier, now it’s a 28 and a half barrier. If we get to 30 and keep moving, we’re going to bring about one of the biggest short covering rallies, short squeeze in recent history, and we’re going to go from 30 to 50 rather quickly.
If we go to $30 in silver, at that point, we’re probably going to be something like 2500 for gold. That’s a 50 to one ratio. Okay? There’s been a lot of complaints. Oh, my gosh, look at this gold silver ratio. It’s like 90. Now it’s 80 something. Well, all right, fine. If we go from 90 to 50 in the gold silver ratio, that means silver is going to rise about twice as much as gold.
And that’s why I’ve been telling people to go into silver. You’ll have a slower initial response. It’s kind of like going into bankruptcy for a big company. It’s a very slow process to enter bankruptcy. But once you enter into that, the clutches and the ravages of the bankruptcy, everything moves very quickly and that’s how silver is going to move. There are other reasons. The BRICS nations, they’re dumping treasury bonds and going into gold and they’re building their gold reserves in order to use and put into practice the gold trade note.
People are wondering, why do they get going with the gold trade note? Because they haven’t set up yet all the mechanisms and they haven’t really created their gold reserves. If you’re going to have bilateral trade in gold token, you have to have both sides ready because there’s going to be a net flow and a net exit. There are so many reasons why gold is going up and of course price inflation is one and of course the government debt being out of control is another.
But I don’t just say it’s out of control. I think it’s headed down a path of certain debt default. In fact, the Orange man, Donald Trump said about two weeks ago, and it was toward the end of March, he said, I’m going to have to manage the debt default. It’s going to be one of my first orders of business. Okay. This is very real, very tangible, and it’s no longer a distant issue.
I’ve been saying for a long time that unless and until we see a debt default threat, gold will not break loose of 2000 and the chains at that level. And now we have broken. And I think it’s because of debt default. I’m going to. I’ve said this before, Ron, and it’s worth repeating, I believe, the entire COVID story, the fable of COVID I think it came about in early 2020, because we experienced in the background a treasury default, a rejection of treasuries.
Interesting. I think we’re now four years, four years into this debt default. I’ve been telling people this is probably a four, six, seven year process. You don’t go from a global currency standard to just getting rid of it and, oh, let’s try something new. It’s not like you take a car and you go to a dealership, you give them the keys, and you walk out and you drive a different car.
Nothing is as simple as that. We got country after country with billions, tens of billions, some of them over 100 billion in treasury bonds, in their forex reserves for their central banks. They have to migrate out. They have to transition out. This is not going to be simple. My gosh, I tell you, this is one of the most complex climaxes that I’ve ever been a part of. And I got to mention something.
To me, it’s part of my memory. A few months before I started the newsletter on Golden Jackass, I did that, by the way, in April of zero four. So now this is 20 years. I now have 20 year anniversary. The next issue is 241. 240 months is 20 years back. In 2000, I think it was late zero three. I wrote an article, 20 reasons why gold will rise.
And now I’m about to write another article, and I title it 20 solid reasons for the gold breakout. And this is it. We had to wait 20 years. We had to go through the layman crisis. Three years into the newsletter, four years into the newsletter, I forecasted that with very little help from other people, a year in advance. And it was exciting. It was based on the credit default swap for Lehman Brothers Corporation.
It got over 1%, and normal is like 15 basis points. We had to go through the QE episode. You know, people don’t look at QE, which is monetization of debt. It started in 2012, and I forecasted several months in advance we’d go to 0%. I did that in late zero eight. Early zero nine. I was called an idiot by a lot of people said, jim, the United States will never go to 0%.
We’re not Japan. I said, oh, really? Get back to me in several months, you idiot. They don’t, they never get back to me because they’re proven wrong. Okay. If you look technically, Ron, at Qe of monetizing our debt, they call it yield curve control. In other words, buy the long bond, buy the ten year, buy the 30 year. That’s monetizing your debt. If you look technically at that, it’s a form of default point.
We’re preventing a default by printing money to cover our debt. Right. Well, covering your debt with printed money is a bad idea. I mean, Chile demonstrated that 30 years ago. It’s a very bad idea. You get a lot of problems. You get price inflation. But the United States is a bigger economy, so we don’t get this ravaging 50, 70% price inflation. Right now it’s almost 100% in Argentina.
Argentina price inflation. I saw that Malay fired like 70,000 government employees recently, and he also reduced by about 40%, at least the national pension. Yeah, okay. He’s doing a lot of things. Yeah. I mean, when he’s not visiting the synagogues in New York. Jim, real quick, continue what you’re doing. Give me 15 seconds. I’ve got to go do something real quick. I’m going to pause my camera, but go ahead and continue.
And I’ll be right back. But go ahead and continue. I’m going to go to the next point. The next point is that there’s a growing resentment by victims of dollar weaponization. And that’s a new term that came into being a little bit before the first Ukraine coup detat. That was 2014. They call it the Maidan coup because it was the Maidan square, but it was the Kiev coup d’etat.
After that, we started weaponizing on a much greater scale, the dollar. Well, if you don’t use the dollar, we’re going to attack you. If you don’t use the dollar, we’re going to call in your IMF debt. If you don’t use the dollar, we’re going to make life very difficult for you, blockading your ports. If you don’t use the dollar, we’re going to quietly kill some of your leaders.
Those are examples of weaponizing the dollar. And therefore we kept a number of countries at least somewhat using the dollar in their trade and banking. Those are the two issues. It’s trade payment and it’s banking practices, like, you know, your reserves management. How are you going to hold your surpluses. If you’re a country like South Korea, in what form do you hold your trade surpluses? Well, predominantly us treasuries.
It’s like 60%. It’s been that way for a while, but it’s declining. The resentment over dollar weaponization in the last several years has really grown into a crescendo. And I make the claim that it’s from dollar weaponization that we actually encourage the formation of the BRICS nations. We have been abusing the dollar and its power. If you don’t use the dollar, we’re going to hurt you, we’re going to harm you and there are lots of ways of doing that.
We’ve weaponized the FBI, we’ve weaponized FEMA for the emergencies. Right. We’ve weaponized the air force with harp and dew drops. Okay. We’re abusing our position of power and the response has been we don’t want your treasury bonds no more. We’re going to sell them and sell a lot of them and we’re going to buy gold. Okay, Ron, I’m going to mention one of the great ironies. The nation that right now is acting more according to the BRICS agenda, more than any other country is Japan.
And they’re not even in a brics country, right. Yet they’re selling treasury bonds, they’re buying gold, they’re announcing that they’re not going to support the treasury bond complex anymore. They’re not buying our debt. In other words, the Japanese are acting like a BRICS nation. They’re de dollarizing in a very fast mode and they’re not even talking about joining the BRICS. Nobody is asking them. Gee, you think with speculation that they might join the brick? Not even in the conversation.
I find it not just ironic but almost funny because we’re focusing a lot on these BRICS nations. Like Argentina wanted to have an invitation and they backed out with Malay. They’ll be back. I said they will be back. Knocking on the door. They did give them time because they’re trying to dollarize so that they can manage their price inflation and the dollar is their strong anchor. Well, after they get done with that phase and they reduce price inflation a bit and they reduce their government pensions and they handle some of the basic problems, then they’re going to want to engage in some trade and they’re not going to want to trade with the United States in a big way.
There’s so much going on. Hey, Jim, I’m going to ask a question here and this isn’t this isn’t really necessarily an advertisement for anything, but I want to promote a product, and I don’t really get anything. I don’t have a referral thing for this. I mean, put it this way, I’m not getting paid by them. But are you familiar with a company called Glint? Glint? Let me share my screen.
I’ve heard the name. I can’t remember what it is. This is really. This is kind of for the people, too, because there’s a lot of people who may or may not be familiar with Glint. And let me share this. That a gold coin? No, what it is is it is a. It’s the. It’s. It gives people the ability to buy gold. It’s very, very small amounts. And basically, what it is, it’s almost like a cash app account where you sign up for an account and you have.
You can put money into your glint account, and then you can actually buy gold. And then the value of your card or the value of your account is based on the price of gold, and you actually are owning gold in a vault in Switzerland, but you’re able to spend that gold, it’s tokenized, and you’re able to spend it anywhere. Mastercard is accepted anywhere in the world. And so for people who.
Mastercard. Right. Basically, it’s a gold back mastercard. And if you go anybody gold back Mastercard. Where you have. Where you have a value of your account, it’s not a debit. That’s correct. Not a desk. Correct. Well, it. Correct. It’s not. Well, it is a. It’s a debit card, but it’s not a. But it’s. It’s basically like a bank account, but you’re putting your money into it, you’re buying gold, and the value of your account is based on the value of gold.
Right. As opposed to being the word debit card. Confuse people. The debit card is only for its usage. You get a debit off your positive gold based account named Glint, and it’s also fractions. That’s correct. And if anybody has. If anybody has any desire to check this out, I mean, if I refer a friend, then I get, like, a little bit of a thing. And you get a little of a thing.
So. And I put that code in the description. If you guys. If anybody has any desire to do this, you know, then by all means, check them out, because I have. I’ve had my glint account now for, oh, I don’t know, probably two years, and I’ve got a substantial amount of gold in there. And whenever I buy groceries and everything, and anytime I get any money, I put it straight into my glint account.
And. And so, you know, when I. When I started buying gold. What’s that? How do you put money into your glint account? So you can either put it. How do you. How do you fill it up? You can fund it by. With a credit card. You can fund it with NAC. You can fund it with a wire. You can fund it any anyway. And if it’s in the United States, it goes into a bank.
They use. They use a bank here in the United States called Sutton bank, and they’re based out of London. And the gold that they have is actually in Switzerland, and it’s a brinks vault under the airport in Zurich. So. And I’ve been using it now for over two years, and I use it all the time. And the value, the foot. The strange thing is, is that the value of what I’ve been putting in, and I keep putting money into it, and I’ve been.
I buy stuff. I buy groceries and everything, and the values keeps going up, even though I. Even though I’m spending it without the value of what I have keeps going up because gold keeps rising. So I highly suggest people check it out, and you can buy. You don’t need. Because most people. Most people want, at least as I understand it, most people look at gold and they’re like, I can’t afford a 2200.
You know, I can’t afford to buy gold at $2,300 an ounce. But with this, you can buy as little as $25. You know, you don’t. You don’t have to spend, you know, tons and tons of money. You just put whatever you can into it. Pretty soon, I think pretty soon, we’re going to start hearing about the coinage, the coinage of one 10th ounce gold coins. And they’re about the size of a dime, a Us ten cent dime.
I’ve seen them. I had an opportunity to buy a bunch about 15. You do? About 15 years ago. They’re really small, and they look inconsequential, but they are one 10th of a gold ounce, and now they’re worth $230. Back then, they were worth. Well, it was a long time. It was 2007 or eight that someone was liquidating an estate. I didn’t have the extra money anyway. It seems like I never have extra money because I’m.
How do you say? I’m directly over the target. I’m taking artillery shots on a daily basis, and I’m not having fun. I’m providing a service. Let me get to some of the other reasons here. There’s a big one, Ron. I don’t want to go on as long as we usually do. I want to make a couple more points on who is buying gold. Pushing it up. I am of the opinion that the Wall street banks are buying gold.
They will not tell you of their purchase. They will deny it. They’ll lie because they don’t want competition. And they, they want you to sell their gold. Sorry. They want you to sell gold to them. They don’t want you buying your competition. So I think Wall street banks are in a very bad situation and they need to get some asset that’s going up in value, and gold is one.
But there’s a climax to this point, and I’ve mentioned this before, and I will mention it again in the 1990 decade. It was around 1995 or six and seven. A former Basel bank for international settlement chairman, his name was Zilstra. He was Dutch. Zilstra made a lot of news. He was vocal. He said a lot of things he got in Greenspan’s face. He once told Greenspan, if you’ve got $270 million of gold that you’re having a problem with, and you’ve got a very big problem, because that’s not a lot of money.
Okay. That was one thing Zilstra got in Greenspan’s face about. But there’s something else that Zilstra promoted. He said that there will come a day in the future when all the central banks, he’s referring to the Rothschild franchise, central banks, they will all be insolvent. They will all be in trouble. And bear in mind that the Fed is losing, lost $117 billion last year. They handed a loss to the Department of Treasury when they usually hand them a nice fat profit.
Not anymore. They’re adding to the government deficit. Zilstra said there will be a large group of central banks that will all be insolvent, and they will exit the insolvency by loading up quietly on gold and then sending the price toward 10,000. Okay, in today’s terms, that would be a multiple of five from a front. A few months ago, several months ago, five fold increase. So maybe they’re buying tens, hundreds of billions collectively in gold and they’re going to multiply the price.
Okay, what I think is going to happen, Ron, I’ll be just very simple. I think we’re going to be pushing 2500 soon. And it’s not a big increase from where we are now. It’s like 8%. We’re going to get to 2500. And I think it’s going to cause a lot of debate and it’s going to push it to 3000 quickly. But, Jim, let me just say I get it.
That’s not a very large amount in the grand scheme, but for people who are, but for people who are, like, going to the grocery store and they’re losing their purchasing power because their everything is based on dollars and everything keeps going up if they, if they are able to get money. And again, and this isn’t necessarily. I’m not, I’m not trying to promote Glint here, guys. I’m just saying this is a, the glint thing is a great opportunity to protect some of your purchasing power.
And I get the notion that if you don’t have it, you don’t own it, but you can’t go spend gold at the grocery store, however you can if you do it with something like this and you can protect your purchasing power through this. And this isn’t to say that I don’t have physical or that I’m not advocating that people don’t have physical. But what I am saying is that this is like a bridge between owning physical and not having any.
So I’m getting a few people in the comments, I posed a difficult question. Can you be certain that there is gold backing or is it a talk of gold backing Switzerland? Well, I. You know what I mean, that that’s always the $10 million question, you know? You know, I mean, I’ve actually, I’ve talked to a lot of investors adding. Are glint investors adding to the push in gold demand or.
I don’t know. I suspect that it’s a legitimate fun. Is. Does Andy Maguire have something to do with it? No, I don’t think so. I’ve never. I don’t. I don’t think so. I actually, I’ve actually talked to the, to the CEO. I tried to get a glint affiliate account, and I don’t know. They just, they, I don’t know if they’ve rejected me or what the deal is, but, you know, I still advocate for them because I believe in it so strongly.
I mean, should I just believe in it, Ron? It’s a great device for protecting your purchasing power. I believe we’re about to see. We’re about to see a transition point. I’m getting a number of clients. It’s only two or three, but it’s coming on quickly. Jim, I’ve got a gain in gold. Should I now move, like, a quarter of my gold holdings into silver? I say, yeah, maybe not a quarter, but start that process because the gains in silver are going to be double, triple what the gains in gold are going to be.
We’ve already gotten gains in gold and not much in silver. When we go from 22 to 27, it’s a nice gain. It’s 20%, to be sure, but we’re still under that magic 30, mark. I’m telling you, once we get past 30, we’re going to 50 very quickly. 30 to 50. 1020. 30, 50. 80. We’re going to go to 50 very quickly. When you’re talking about purchasing power, I said this about six months ago, and it might be a bit slower than I expected, but big stores, I mean, like retail stores and food stores and pharmacies and other stores, membership clubs, they might soon accept silver ounces at the cash register and post what they honor the silver ounce to be, and every Monday morning, they might change that amount.
So Glint is great, and I say only if they really have a gold backing, please. There are certain small businesses out there that are beginning to accept, you know, cryptocurrencies and physical silver and physical gold as payment, you know, for transactional purposes there because I see it, because they see the writing on the wall and, you know, and I only think that that’s going to increase. I don’t think that that’s going to happen at the big box retailers, but ultimately, it very well could.
When. If you get. If you get places like, you know, PayPal and things like that that are. You know, I think actually, I mean, I think cash app has the ability for you to buy bitcoin now. They are the ones that are custodying it, but the value of your account could. Is if you. You can buy bitcoin in within cash app, and the value of your money is based on bitcoin.
And so if you need to. If you need to spend some of it, you can. You can sell off a little bit, spend it with your cash app card. So I feel like institutions like, yeah, I think. I think, you know, places like that are going to thrive in what’s coming because they’re going to be, I want to say, malleable or flexible in how they embrace flexible some of these technologies.
The key is protecting your purchasing power, and you can invest in gold and silver and protect your savings in terms of purchasing power, but it doesn’t really work on the actual purchase during transactions. Glint does that, again, provided it has a gold backing. And that’s. That’s the big, big question. I suspect that it’s probably honestly managed, but I don’t really know, Ron. There are so many different points.
Everything that I’ve mentioned so far has a part b, part c, part d to the main theme. We are growing our deficit at a trillion dollars every hundred days. I just read that the annualized borrowing costs now are 1. 1 trillion. And the Fed is getting pressure from the banks and the Department of Treasury. The Fed is getting pressure. We can reduce our borrowing costs for the government debt, as gargantuan as it is, if we just lower the interest rate some, and that will bring about a very tough battle.
Lower interest rates and you get a bigger threat of debt default. If you have a debt default threat, you raise interest rates a lot. And the number of examples in past history is numerous, many, many, many. I think the Fed had been playing with fire. In December they said they’re going to give two rate cuts in the new year. We’re in the new year now. They’re taking away those promises.
And they actually said we may not cut rates this year. And a few weeks ago they said we’re getting more price inflation than we expected. Then they had on the other side, pro cut side. They said we’re going to pay more attention to the labor market than we are to price inflation, to cut rates during a recession. Except this isn’t a recession, it’s a depression. We’re in an inflationary depression, and we’re not identifying it as such.
I argue that we’re on a minus five to -7% recession, which is a depression. And we got loaded with inflation, probably something like 810 or 11%. This is called a 10% inflation and -5% recession, inflationary depression, because we lie through our effing teeth about every statistic. Every statistic. Okay, I’ve said this many times. I cut my teeth in the first two years of the newsletter, following the consumer price index, the jobless rate and the economic growth, I showed what the economic growth was.
If you use proper statistics, like what they have at shadow government statistics, and the lie on the CPI is about six or 7%. So you know, you have to subtract economic growth by six or 7% to get reality. We’re fighting a recession. We’re like 1% growth. And golly, they just had a statistical output on the economic growth, and almost all of the growth was from government spending. And what I like to do is get my hands on a certain statistic.
It has to do with the ineffectiveness, the inefficiency of the economy. And I believe that we’re at the point now where we need eight to ten new dollars to produce $1 of debt, to produce $1 of economic activity. In fact, it is so much worse, we probably need 20 new dollars to avoid 1% worse inflation. We don’t have any growth. We have a depression that we’re calling a struggle to keep positive to avoid a recession.
We’re nothing but stinking liars. And everyone around the world, well, our planet understands that our government lies. They lie about Ukraine, they lied about 911, they lied about Lehman, they lied about JFK when I was eleven years old. They lie about inflation, they lie about unemployment, they lie about the supply chain. They lie about the migrants. They lie about everything. In fact, I go so far to say they lie about every single thing they talk about.
So I regard them as a 180 meters. It’s absolutely true. They lie about everything. And I think, you know, there are, there is a growing amount of people who are finally beginning to accept the fact that, that the government is nothing, is just lying through their teeth about everything. It’s like, you know, if the old joke, yeah, how do you know that? How do you know a lawyer is lying? How do you know a lawyer is lying when his mouth is moving out of his mouth? Exactly.
You know, my sister’s an attorney and she told me that the joke many years ago, what do you call a thousand attorneys who are chained together and they fall to the bottom of a lake? A good start. Okay. You know, I like attorneys. I like attorneys. I think that they’re really good people. But, you know, I gotta say something that really bothered me by the year 2003, why aren’t the attorneys criticizing the Patriot act? Where are the constitutional scholars to oppose the Patriot act, which I regarded to be a fascist manifesto? Okay, we didn’t see the attorneys speak up.
I confronted my sister in 2003 and four and she said, geo, I’m not a constitutional attorney. I’m a divorce and family law guy. What are you talking about? I said, okay, fine. You know, I’m tired of people criticizing me for being a warrior when they’re too preoccupied, uninterested, ignorant or deceived in seeing what’s going on. Okay? I’m out there with my neck on the line, I’m taking shots.
I promised the Lord Jesus that I would stick it out to the end and have faith that I’ll be restored because I’m getting the shit kicked out of me. And it is constant. The new phenomenon now is that governments around the world are taking upon themselves to do confiscation type taxes. I was told recently hey, look, we need another 18,000. Boom. Just like that. Gone. I have electrical fires, and I don’t want to go on and on, but I don’t know anybody who’s had electrical fires, and I’ve had five in the last three years.
There are a lot of other reasons why gold is rising. I’ll just rattle off a few I’m about to do. I got a tickly nose. I got a plan to do a public article, and I hope you know the emphasis now is on videos. So I want to do a public article because I think that if it’s brief, people will read it, and it’s going to be about 20 reasons why gold is rising.
Okay, we’ve got now Japan. I mentioned them acting like a brick. So getting rid of treasuries, and they’re buying gold, they’re fortifying, their dropping currency. They’ve got a declining yen currency for problems. And I don’t want to get into a whole arena here. The Japanese are buying gold to support their currency. The Chinese are doing the same thing. So we got the Pacific rim buying gold to protect their currencies from decline.
Now, I’ve said this many times in the past several years, the dollar is going to rise and rise some more before it vanishes. And as foreigners central banks sell their treasury bonds and remove funds from their dollar reserves, their currencies are going to go down. The dollar will go up, and that’s exactly what Japan did two years ago. They sold $180 billion worth of treasury bonds, and their currency went down 21% because they reduce their dollar reserves backing up the yen currency.
All right, country after country doing the same thing, the dollar goes up as a result of foreigners selling treasury bonds. It’s a paradox. And in addition to that, the derivatives that are getting liquidated are dollar based. So when they liquidate bond derivatives and petrodollar derivatives, the dollar goes up. We are about to see another big move up in the dollar because of its abandonment. If that seems illogical to you, sign up for the newsletter golden hyphen jackass.
com. I mention almost every issue. The phenomenon for foreign central banks unloading treasuries, and as a result, when they buy gold, their currency goes down. So what they’re doing is they’re using extra money to fortify their currencies with gold. Extra money. This is very complicated. The dollar is going to go up in a supernova because of foreign dumping of treasuries. And notice that that has slowed down because the Japanese have been a case study the Japanese are in a crisis right now and they can’t get out of it.
And every one of the Brics nations is watching. The BRICS are going to come up with their gold token. They’ve already announced they’re going to use the blockchain. That was a month and a half ago. They announced it was. It was the Russian, Chinese, the Indians, and one other country I think was Iran’s leader or finance type. They said, we’re going to install blockchain solutions for trade payments.
They did everything but say XRP, Ron. Right. And that is my 20th item. The on demand liquidity of XRP and all the different contracts with a gold basis. This gold phenomenon, we’re going to get questions from people who are just, you know, not really swift. They’re going to say, we got a $2,400 gold price. Should I get out and go back into the dollar? And I say, only if you want to lose a lot of money, only if you want to shed your dollar purchasing power.
Why don’t you move from the gold into silver? And when it gets up to 50, make a different decision. Maybe then you can buy an oil lease. I have one client. It’s funny that you say that because I actually took. I took a portion of my silver or of my gold, and I actually put it into silver. And the guy, the guy who’s my local guy who I do all that stuff with, he’s like, oh, what are you doing? What are you doing? You should keep it in gold because you can transport it and all that other stuff on them.
Like, yeah, I get that. But, you know, gold is. The silver is actually going to go up higher, and the value of what I have is going to be, you know, just because of the traditional ratio, you know, I stand to gain more by owning the silver than I do the gold, you know, and he understands that. But make it his idea of port. His idea of portability.
I understand the portability aspect of it, but, you know, you know, if I’m trying to. If I’m trying to preserve portability of your. Your very. Your very heavy glint card. Right. Well, that’s that around he’s referring to. No, I know you’re not in the business of porting around your silver coins and boxes. And besides, you don’t have 80 pounds of gold coins. I like to keep it simple.
I say to guys like that, all right, we got a $25 silver price. What’s 30% of that? 30% of that. That’s seven and a half dollars. So 32 and a half. Okay, a move from 25 to 32 and a half. That looks likely really soon. What’s 30% of 2200 gold? 660. Are we likely to get close to 2900 in gold before silver gets to 32? I don’t think so, mister.
So you don’t know what the hell you’re talking about? Porting gold? That’s a silly argument. And you can port a bunch. You could port 500 pounds of silver in the back seat of your car, and that’s no bigger than two, Mark. Sorry, two Ron portains. Right, exactly. I I had. I had an aunt in law. She’s not with us anymore, but she was like, 400 pounds. And my sweetheart said to me, jim, you know, we could put her in the backseat.
Would that break your car? And I said, that’s no different from two men, okay? If you have 500 pounds of silver, that’s no different from two men and a teenage son. This porting argument tell you, these dealers, they don’t know shit. If you ask them what’s the threat of a treasury bond default? They’d say, are you kidding? We never default. That’s one of the silliest things I ever heard.
Oh, really? Get back to me in a year, you idiot. Okay, if you talk to them about price inflation, they’re buying gold because the price inflation is getting out of control. He’ll say, oh, you gotta be nuts. It’s only about, like, four or 5%. I just read in the news. Then you say, how much more did you pay for your health insurance, fire insurance? How much did your rent go up? Are you renting now? Okay, how much did gasoline, diesel go up in the last two years? Okay, then.
Oh, yeah. Well, yeah, that’s probably true, but we have to go with the official statistics. That’s another moron argument, Ron. I’m out of time. I’m out of voice, and it’s great seeing you again. Oh, my God. I’m getting close to being out of time as well. So, Jim, I want to thank you for making the time to come on real quick this morning. I wish it could be longer, guys, but we both have commitments, and so we gave it an hour.
We’re given our time. But you got to say, it’s golden hyphen jackass. com, and sign up for the newsletter. The newsletter is my stocking paid. It’s my baseline income. It helps me to pay the bills and manage the assaults that I routinely suffer. But if you’re much better off, hit the donate button. If you’re very wealthy, hit the sponsor button. I’m available for consult calls. Hit the consult button.
And I’m here every day. I haven’t had a day off, Ron. I really have not had a vacation in seven years. I’m here every day. What I regard as a vacation is what I’m going to, what I did last night, I watched a little bit of the Atlanta baseball game. I like Atlanta. They’re a good team. I don’t like watching the bad teams. That’s my second, that’s my second team, believe it or not.
You know, I mean, I, because I grew up, when I grew up, the, I couldn’t watch the Dodgers because the, you know, at that time it was tbs and I could watch the Braves. So the Braves run everywhere, nationwide. My mother watched the Braves. Yeah. So I grew up. I grew up watching the Braves. And therefore I’ve always liked the brave Andrew. John Andrew with the w from Curacao.
Andrew. I couldn’t think of his last name. Jones. I remember, I remember, I remember. Well, I remember when Cox went out to the center field and took him, took him out of the game. That was a long time ago, but, yeah, Andrew Jones and, but anyway, yeah, Dale mer Jones. I’ll go back to Doug. Go back to Dale Murphy. So I had a tenant once. This was 1987.
I had a tenant in suburban Boston and his older brother was the guy, Smith for the Atlanta Braves. In about 1988, a starting pitcher named Smith. My tenant was named Smith and he did some favors for me, but he said, jim, my older brother is starting pitcher for the Braves. So I followed him a little bit. It was fun to talk about his latest start, but then he had, he just had an elbow, and an elbow injury ended his career.
It was too bad. Their stud pitcher strider, just brutal wear and tear. Yeah, that stud pitcher strider looks like he’s going to need. Yeah. He was your best pitcher. No, well, he’s Atlanta’s best pitcher. Anyway, my point was I don’t take, yeah, well, I, yeah, Ron, my point was that I don’t take vacations. What I do is like, last night, I just quit at 04:00. I took a nap, I watched the Atlanta game and then I watched the finals for NCAA basketball.
So that was like a six hour vacation. I didn’t do anything. Well, that’s not true. I got a new order. So, you know, that’s a ten minute process, managing a new order, but, you know, minimal efforts. Ron, I need a vacation and I don’t have the opportunity to take one because I have a lot of pressure. And I need to promote the newsletter. And it’s, this is a tough life I’ve got, but I’m very grateful to my supporters, to the donors.
I did a campaign in Valentine’s Day, and I had like 300 people respond. Very grateful to them. And I got to say this, that if it weren’t for christians in the hand of the Lord, the hand of the Lord Jesus, I’m telling you, I would not be here. I have hundreds who helped of me, and they tell me, I’m a Christian. I’m going to support you. I’m going to do what I can.
And they donate like $100 or something. But there are others who are donors, and they’re more zeros, and I’m very grateful to them. And when I get a sponsor button hit for $1,000 or more, I go straight down to my knees and thank the Lord. I go onto my knees. Okay. This is a very deadly game that we’re involved in. This is not just recovering the republic from a fascist coup d’etat.
We are in the grips of a global satanic cult that has as its basis and hometown Geneva. And their economic ministry is in Davos. The World Economic Forum is a satanic group. They’re out to control the entire country, the entire western world, the entire globe, institute fascism and make Christianity illegal. They’re already doing little things. Now, certain banks, if you like, buy a bible. You’re on a list, and you get not exactly blackball, but you get, you get some pain.
They’re going to try to install something that is so ugly, it’s a satanic, fascist state. We need to stop it. We need to bring Trump in. We need to put to trials and tribunals dozens, if not hundreds, if not thousands of people. And I’m told by a military source, Ron, last thing I’ll say, that we are on the edge of total victory and they’re trying to manage an avoided civil war.
I think we’re going to get civil disorder, but we’re not going to get a civil war. So thank you for having me on golden hyphen, jackass. Have one. Join mine because I’ve got a few, and I got one that’s far deeper linked with Centcom. And there are a lot of arrests going on, arrests of people that, whose names you wouldn’t know because they’re involved in bus drivers role in trafficking.
Well, I think the, there’s a lot going on, just like the diddy thing, so. But that’s a topic for another day. And I know you got to go. And I have to go as well, so. Yeah. So, yeah. Well, if you have any desire to do another Epstein light. Epstein light. If you any. If you have any desire to do another show, like here in a couple weeks where we just kind of, you know, come in and maybe touch on some of these other things, let me know.
Otherwise. Sure. Yeah, sure. I’d like to touch on, like, banking details and Fed policy details and issues regarding depositors and difficulties with dealers. Right now there’s a problem with dealers. They’re actually being asked to buy back coins because of the economic distress. There is a tremendous squeeze on households now. But I got to go. It’s great being on hyphen. Jackass. Support. I gotta go. Support Jim. Support Jim.
Yeah, this show was just kind of thrown together very haphazardly at the last minute. So maybe Jim and I’ll come back here in a couple weeks or whatever and have something a little bit more structured. So that. That being said, thanks for your time today. Look forward to seeing you again soon. Jared, Jimbo, and everybody have a great day. Look forward to seeing you guys this afternoon for the constitution class.
Take care, everybody. Have a great day. .
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