[00:00.000 --> 00:08.300]  You're listening to the Liberty Beat, your daily source for Liberty news and activist
[00:08.300 --> 00:16.440]  updates online at TheLibertyBeat.com This is Justin Armand
[00:16.440 --> 00:20.800]  And this is Jessica Armand Here with your Liberty Beat for Thursday,
[00:20.800 --> 00:29.440]  October 3rd, 2013 Gold opened today at $1,314, silver at $21.73
[00:29.440 --> 00:35.960]  And Bitcoin is trading at $109.49 The Liberty Beat is sponsored by Sons of
[00:35.960 --> 00:41.040]  Liberty Mint specializing in usable indivisible silver and known to their excellent customer
[00:41.040 --> 00:47.160]  service online at SonsofLibertyMint.com That's S-U-N-S of LibertyMint.com
[00:47.160 --> 00:53.960]  And from Central Texas Gunworks CHL courses, self-defense training and firearm sales online
[00:53.960 --> 00:58.360]  at CentralTexasGunworks.com And now the news
[00:58.360 --> 01:02.480]  Conspiracy to commit murder has been added to the charges against the alleged operator
[01:02.480 --> 01:05.800]  of Silk Road The website was shut down Tuesday by federal
[01:05.800 --> 01:10.480]  agents and a 29-year-old San Francisco man was arrested in connection with operating
[01:10.480 --> 01:14.960]  the online black market bazaar When word of the arrest of Ross William Ulbrick
[01:14.960 --> 01:20.960]  first broke, he was facing charges of narcotics trafficking conspiracy, computer hacking conspiracy
[01:20.960 --> 01:25.700]  and money laundering conspiracy Wired now reports that a second complaint
[01:25.700 --> 01:30.400]  charges him with conspiracy to commit murder This arises from the allegations that Ulbrick
[01:30.400 --> 01:35.040]  believed to be the website's operator, known as the Dread Pirate Roberts, tried to arrange
[01:35.040 --> 01:41.880]  a murder for hire with one of the site's clients
[01:41.880 --> 01:46.600]  The Power and Water Systems Board of Public Utilities in Columbia, Tennessee voted 3-5
[01:46.600 --> 01:52.040]  to discontinue fluoridating the city's water The decision makes Columbia the 136th community
[01:52.040 --> 01:59.840]  since 2010 to reject water fluoridation Monsanto reveals a drop in gross profits
[01:59.840 --> 02:06.040]  Wednesday while also announcing the company's acquisition of a high-tech climate data company
[02:06.040 --> 02:12.720]  The GMO giant touted its purchase of San Francisco-based Climate Corp as a transformational event
[02:12.720 --> 02:18.680]  Routers reports that the resulting weather data products will be incorporated into Monsanto's
[02:18.680 --> 02:24.200]  field scripts planting platform used by farmers for planting, field management and harvesting
[02:24.200 --> 02:29.200]  decisions Monsanto chairman Hugh Grant calls the acquisition
[02:29.200 --> 02:32.520]  the entry ticket into a $20 billion market opportunity
[02:32.520 --> 02:40.920]  If you are a parent who wishes to provide the very best education for your children,
[02:40.920 --> 02:46.120]  don't miss the Parents for Liberty education conference next Saturday on October 12 in
[02:46.120 --> 02:50.360]  Austin Register at parentsforliberty.org
[02:50.360 --> 02:54.560]  You've been listening to the Liberty Beat Remember, freeing your mind is freeing our
[02:54.560 --> 03:19.560]  world
[03:19.560 --> 03:32.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[03:32.560 --> 03:37.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[03:37.560 --> 03:43.560]  When you were eight and you had bad traits You'd go to school and learn the golden rules
[03:43.560 --> 03:48.560]  So why are you acting like a bloody fool? If you get hot then you must get cool
[03:48.560 --> 03:59.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[03:59.560 --> 04:05.560]  You chuck it on that one, you chuck it on this one You chuck it on your mother and you chuck it on your father
[04:05.560 --> 04:10.560]  You chuck it on your brother and you chuck it on your sister You chuck it on that one and you chuck it on me
[04:10.560 --> 04:32.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[04:32.560 --> 04:40.560]  Nobody now give you no break Police now give you no break That old soldier man now give you no break
[04:40.560 --> 04:43.560]  Now keeping you at you now give you no breaks
[04:43.560 --> 05:00.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[05:00.560 --> 05:20.560]  Bad boys, bad boys, whatcha gonna do? Whatcha gonna do when they come for you?
[05:20.560 --> 05:34.560]  Okay, this is Randy Kelton, Deborah Stevens, Rule of Law Radio on this Thursday, October the 3rd, 2013
[05:34.560 --> 05:40.560]  How did we get past 2012? I thought the world was supposed to end
[05:40.560 --> 05:46.560]  But here we are, it doesn't seem like it can be October, it seems like it ought to be about March or April
[05:46.560 --> 05:51.560]  But as we get older, I hear this gets worse
[05:51.560 --> 06:02.560]  I've been doing a lot of research lately, lots of interesting things are happening in the mortgage area
[06:02.560 --> 06:16.560]  Nothing really earth-shattering, but just the trickle of rulings in the lender's failure is turning into a torrent
[06:16.560 --> 06:27.560]  It has taken a while for the judges to begin to get their heads wrapped around the enormity of the problem
[06:27.560 --> 06:34.560]  And the level of illegality of what the banks have been doing
[06:34.560 --> 06:45.560]  And we're getting more and more rulings that are really causing the lenders major problems
[06:45.560 --> 06:56.560]  When I started this five, six years ago, the courts ruled against us out of hand at every turn
[06:56.560 --> 07:02.560]  And we designed what we do with that in mind
[07:02.560 --> 07:07.560]  We fully expect the courts to rule against us out of hand at every turn
[07:07.560 --> 07:12.560]  Maybe they won't, maybe they'll actually rule in our favor
[07:12.560 --> 07:16.560]  But it behooves us to act as if they won't
[07:16.560 --> 07:24.560]  That way we prepare for the situation where they do rule against us
[07:24.560 --> 07:30.560]  And we're not caught with nothing to, with no remedy, with no way to move ahead
[07:30.560 --> 07:37.560]  And so far we've been doing pretty good with keeping things moving along
[07:37.560 --> 07:52.560]  And if you have a mortgage and you're struggling with it, time has never been better to take some action to try to achieve remedy
[07:52.560 --> 07:58.560]  And we've been having a lot of fun with that
[07:58.560 --> 08:03.560]  I'm also working on this electronic lawyer
[08:03.560 --> 08:08.560]  It's turning out to be a real struggle to get it all put together
[08:08.560 --> 08:12.560]  And it's one thing to have a great idea
[08:12.560 --> 08:17.560]  It's quite another to turn that idea into a reality
[08:17.560 --> 08:31.560]  We know how to do it, and I've finally figured out how to structure a tool to present the complex information
[08:31.560 --> 08:43.560]  It's just that it takes a tremendous amount of work to get things organized in a way in which I can present it with this new technology
[08:43.560 --> 08:47.560]  I've actually developed several new technologies
[08:47.560 --> 08:56.560]  And I hope to be getting some patent searches and patent applications started here relatively quickly
[08:56.560 --> 09:00.560]  And we'll get this thing up and going
[09:00.560 --> 09:08.560]  We will have our caller lines open all night, so we'll be taking your calls
[09:08.560 --> 09:12.560]  I didn't know if I had any because I didn't have my caller page up
[09:12.560 --> 09:25.560]  Okay, we don't have any calls quite yet, but if you have a question or comment, give us a call at 512-646-1984
[09:25.560 --> 09:29.560]  And we'll be taking calls on pretty much all subjects
[09:29.560 --> 09:33.560]  We'll have Joe Esquivel here tomorrow night
[09:33.560 --> 09:39.560]  And I have a lot of issues I want to run by him
[09:39.560 --> 09:45.560]  We have been structuring a state suit
[09:45.560 --> 09:50.560]  Up until now we've been helping people with foreclosure, we've been filing federal suits
[09:50.560 --> 09:55.560]  And we have a very consistent federal suit that we can always file
[09:55.560 --> 10:02.560]  And that's one of the demands to show agencies standing in capacity
[10:02.560 --> 10:08.560]  So we have that one, we can produce it very quickly, and now we're moving towards state suits
[10:08.560 --> 10:17.560]  And as I tear apart the documentation in the county record
[10:17.560 --> 10:26.560]  Everything that we're doing here for all of the complex arguments you hear bandied around the internet
[10:26.560 --> 10:36.560]  As we dig down through this and find the arguments that generate the most effective outcomes
[10:36.560 --> 10:40.560]  They always seem to go to the simplest ones
[10:40.560 --> 10:46.560]  And in taking apart the deed of trust
[10:46.560 --> 10:50.560]  Taking apart the records in the county recorder's office
[10:50.560 --> 10:58.560]  We keep finding these arguments that are so straightforward we wonder how we missed it
[10:58.560 --> 11:03.560]  The latest one that I've put together, it's been there in front of us all the time
[11:03.560 --> 11:11.560]  We just haven't, somehow we haven't cleared our minds of all of the things that we think we know
[11:11.560 --> 11:16.560]  Or at least I haven't been able to do that, I struggle with that all the time
[11:16.560 --> 11:23.560]  To extract myself from what I think I already know enough so that I can back up
[11:23.560 --> 11:28.560]  And get a clear view of what's actually going on
[11:28.560 --> 11:35.560]  And the latest one goes to the very first thing that occurs after closing
[11:35.560 --> 11:41.560]  We've been talking about the lenders securitizing the notes
[11:41.560 --> 11:48.560]  Well, I haven't found arguing securitization to be a very effective strategy
[11:48.560 --> 11:54.560]  Because it's really hard to get the banks to wrap their head around the concept
[11:54.560 --> 11:59.560]  So, I mean the banks, I'm sorry, the judges
[11:59.560 --> 12:06.560]  Judges tend to lean toward the conservative side
[12:06.560 --> 12:09.560]  They lean toward the way things have always been
[12:09.560 --> 12:12.560]  They're very reluctant to change direction
[12:12.560 --> 12:15.560]  And that's probably a good thing
[12:15.560 --> 12:21.560]  When the judges change directions quickly we accuse them of adjudicating from the bench
[12:21.560 --> 12:26.560]  When they refuse to change direction we accuse them of being corrupt
[12:26.560 --> 12:31.560]  And bought off because they're not giving us the decisions that we want
[12:31.560 --> 12:38.560]  So, with that said, going after issues before the court
[12:38.560 --> 12:45.560]  The one thing I have found is it is much more effective
[12:45.560 --> 12:53.560]  To reduce your argument down to as few a number of parameters as possible
[12:53.560 --> 12:59.560]  And that's what sent us back to the records filed in the county recorder's office
[12:59.560 --> 13:06.560]  Because essentially all claims against real property must be recorded there
[13:06.560 --> 13:11.560]  And it must be properly recorded in order to be valid
[13:11.560 --> 13:19.560]  It is much easier to ask a judge to look at a document that has been filed in the record
[13:19.560 --> 13:24.560]  To look within the four corners of the document
[13:24.560 --> 13:27.560]  At what is contained in the document
[13:27.560 --> 13:33.560]  And make a determination as to whether or not that document
[13:33.560 --> 13:43.560]  Meets the local state statutory requirements for filing in that particular record
[13:43.560 --> 13:48.560]  This puts a judge in a position where he doesn't have to change the world as he knows it
[13:48.560 --> 13:53.560]  He doesn't have to rule on whether or not Merge is a valid company
[13:53.560 --> 14:02.560]  Securitization is illegal, that bifurcation nullifies the deed of trust
[14:02.560 --> 14:08.560]  And those rulings would essentially change the legal world if he lives in it
[14:08.560 --> 14:14.560]  And if we're going to ask a judge to do that, we have to have it not only
[14:14.560 --> 14:19.560]  An overwhelming abundance of facts in law in our favor
[14:19.560 --> 14:25.560]  We also have to have a considerable amount of political pressure on the judge
[14:25.560 --> 14:29.560]  Or he is not going to give us a ruling
[14:29.560 --> 14:34.560]  So, looking at things, it's easier for him to give us a ruling on
[14:34.560 --> 14:41.560]  And asking a judge to rule that when the lender filed this particular document, they screwed up
[14:41.560 --> 14:50.560]  We're not even asking the judge to say that the demand for payment is void
[14:50.560 --> 14:53.560]  That they no longer have a right to seek payment
[14:53.560 --> 14:55.560]  We're not going there at all
[14:55.560 --> 15:03.560]  And we're not arguing whether or not someone has a right to be paid
[15:03.560 --> 15:12.560]  We're arguing whether or not this particular individual has the right to demand that payment
[15:12.560 --> 15:19.560]  And if the court rules that this person cannot demand the payment the way they're demanding it
[15:19.560 --> 15:28.560]  Then they either have to demand it another way or go find the right person and have them come and demand it
[15:28.560 --> 15:31.560]  And this is all we're asking the court to rule, so it gets a lot easier
[15:31.560 --> 15:33.560]  And here's the first one
[15:33.560 --> 15:37.560]  We've been talking about how the lender sells a note
[15:37.560 --> 15:43.560]  And for the most part, most of these predatory loans were table-funded notes
[15:43.560 --> 15:51.560]  By table-funded, that means that the lender who actually secured the indebtedness
[15:51.560 --> 15:54.560]  Was not the one that funded the note
[15:54.560 --> 15:58.560]  But there was someone else, an investor in the background, that funded the note
[15:58.560 --> 16:08.560]  So the lender effectively came to the table and disclosed himself as the lender
[16:08.560 --> 16:15.560]  In using the term in the way it's used in normal conversation
[16:15.560 --> 16:26.560]  Lender, as normally defined, is a person or entity who provides funding in a contract
[16:26.560 --> 16:35.560]  Where the lender expects to have that funding returned with payments over time
[16:35.560 --> 16:39.560]  So when the lender comes and convinces himself as the lender, that's what we expect
[16:39.560 --> 16:43.560]  They provide the funding, they will pay them back over time
[16:43.560 --> 16:44.560]  But that's not how it works out
[16:44.560 --> 16:46.560]  Hang on, Tony, I see you there
[16:46.560 --> 16:48.560]  I'll finish up this thing on the other side
[16:48.560 --> 16:50.560]  I think you'll find it very interesting
[16:50.560 --> 16:52.560]  Randy Kellum, David Stevens, Google Radio
[16:52.560 --> 16:57.560]  I'll call it number 512-646-1984
[16:57.560 --> 16:59.560]  We'll be right back
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[18:29.560 --> 18:33.560]  How to turn the financial tables on them and make them pay you to go away
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[18:38.560 --> 18:40.560]  Personal consultation is available as well
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[18:46.560 --> 18:49.560]  Or email MichaelMears at Yahoo.com
[18:49.560 --> 18:51.560]  That's RuleOfLawRadio.com
[18:51.560 --> 18:57.560]  Or email M-I-C-H-A-E-L-M-I-R-R-A-S at Yahoo.com
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[19:01.560 --> 19:05.560]  You are listening to the Logos Radio Network
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[19:08.560 --> 19:34.560]  Music
[19:34.560 --> 19:36.560]  Okay, we are back
[19:36.560 --> 19:39.560]  Randy Kelton, Debra Stevens, Rule of Law Radio
[19:39.560 --> 19:42.560]  What we talk about here is remedy
[19:42.560 --> 19:44.560]  Remedy in law
[19:44.560 --> 19:52.560]  And what's most important for us to get out there is
[19:52.560 --> 19:58.560]  Kind of giving some demonstrations of ways to think about law
[19:58.560 --> 20:06.560]  And we've talked about a lot of the maxims that we go by, never make a proactive statement of law out of your own mouth
[20:06.560 --> 20:10.560]  Only make proactive statements out of the mouth of the courts
[20:10.560 --> 20:13.560]  And a number of these issues, so
[20:13.560 --> 20:17.560]  We're trying to talk about how to think about law and it's
[20:17.560 --> 20:24.560]  Thinking about law is like solving any other problem, you have to do your homework and learn what the law is
[20:24.560 --> 20:28.560]  But the law doesn't cover everything directly
[20:28.560 --> 20:40.560]  And what I found the best way to find your issues is to think about things in the terms of what is right and what is wrong
[20:40.560 --> 20:42.560]  And generally how things work
[20:42.560 --> 20:49.560]  And if you find something that looks like it's wrong
[20:49.560 --> 20:55.560]  When you go look at our law, it probably is, and you can find the law to show that it's wrong
[20:55.560 --> 21:02.560]  Most of all of the stuff I've seen in law goes to good common sense
[21:02.560 --> 21:13.560]  Sometimes it doesn't look like common sense because you're looking at things from outside the context in which the decisions were made
[21:13.560 --> 21:24.560]  That establish the law the way it is, but when you look inside at the decisions and how the judges make them, they almost always follow very good logic and reasoning
[21:24.560 --> 21:30.560]  So to logic and reasoning, I'm going to the deed of trust
[21:30.560 --> 21:41.560]  Or if you're in a mortgage state, the mortgage, I call them generally the security instrument
[21:41.560 --> 21:55.560]  The instrument that grants benefits to the lender in return for providing funding to secure the property
[21:55.560 --> 22:03.560]  But in preparing the security instrument, and to go back to Joe Esquivel's explanation of this
[22:03.560 --> 22:17.560]  The mortgage itself contains three documents, the warranty deed which is traded to you, the borrower, in return for a note, a promise to pay
[22:17.560 --> 22:25.560]  And then a security instrument which attaches the warranty deed to the promise to pay
[22:25.560 --> 22:30.560]  So that all three form a single instrument called a mortgage
[22:30.560 --> 22:39.560]  And those three instruments are synergistic, they all work together with one another
[22:39.560 --> 22:49.560]  So you can't just rip them apart, and that's contained in Covenant 20 of your mortgage or deed of trust and security instruments
[22:49.560 --> 23:05.560]  If it's a Fannie Mae Freddie Mac uniform instrument, it will be in Covenant 20 that the lender is authorized to sell the note or a portion of the note or the entire note
[23:05.560 --> 23:09.560]  But it stipulates together with this security instrument
[23:09.560 --> 23:30.560]  And in reading the Truth in Lending Act, in one of the sections where it requires that whoever purchases an interest in the note is required to give notice of that purchase to the borrower
[23:30.560 --> 23:48.560]  Now underneath that section in the crafter's notations, it references the only portion of that mortgage that is of any value is the promise to pay
[23:48.560 --> 24:02.560]  So if something is sold, the only thing that effectively can be sold is the only thing that has an intrinsic value, and that's the right to be paid, the promise to pay
[24:02.560 --> 24:13.560]  So what happens in a table-funded note is right at closing or immediately thereafter, that right to be paid is transferred to someone else
[24:13.560 --> 24:25.560]  And I'm making the argument that it's a difficult question as to whether or not there was actually a sale
[24:25.560 --> 24:34.560]  As the lender who came to you and told you, gave you disclosure that he was the lender, really wasn't
[24:34.560 --> 24:39.560]  Someone else was, someone undisclosed
[24:39.560 --> 24:48.560]  So did the lender ever own the right to the income stream?
[24:48.560 --> 24:58.560]  But even if we assume that he did, he immediately transferred that to the entity that funded the note
[24:58.560 --> 25:03.560]  So either that entity owned it to start with or it was immediately transferred to him
[25:03.560 --> 25:15.560]  In either case, this transfer occurs almost immediately after the note and deed of trust are signed
[25:15.560 --> 25:30.560]  And then the lender comes to the county clerk and he files this claim in the county record against the property, the security instrument
[25:30.560 --> 25:43.560]  And he files this claim under the assertion that he has a bona fide claim against the property in the event of non-payment
[25:43.560 --> 25:48.560]  And my argument is he has no such thing
[25:48.560 --> 25:57.560]  If the lender has sold the right to be paid, he has sold the mortgage
[25:57.560 --> 26:11.560]  And that security instrument that gives him the right to take actions in case of default by non-payment
[26:11.560 --> 26:19.560]  Was written to him and not somebody else to protect him from harm by non-payment
[26:19.560 --> 26:25.560]  But he sold the right to payment so he can't be harmed by non-payment
[26:25.560 --> 26:33.560]  He no longer has a claim against the property, someone else does
[26:33.560 --> 26:38.560]  But he came to the court and he filed this document claiming he had that claim
[26:38.560 --> 26:47.560]  And my assertion is that once he sold the right to be paid, he no longer had a claim against the property
[26:47.560 --> 26:53.560]  Therefore, the filing was fraudulent
[26:53.560 --> 26:57.560]  Now, that took a while to work that one out
[26:57.560 --> 27:07.560]  Now, we have a lot more arguments after that one because when we actually look at the documents themselves
[27:07.560 --> 27:20.560]  I've got about 50 pages of arguments and claims against those documents based on how the documents themselves are written
[27:20.560 --> 27:29.560]  I don't know who created those documents, but he must have been high on coke
[27:29.560 --> 27:33.560]  I know you go to the lender and you sit down at the lender and they do this all the time
[27:33.560 --> 27:37.560]  And they all use this same instrument
[27:37.560 --> 27:43.560]  So you go to the lender with this unstated presupposition that the documentation they're putting in front of you
[27:43.560 --> 27:51.560]  Has been very carefully crafted by seasoned professionals
[27:51.560 --> 28:00.560]  So most people don't even read the document, they accept that the document is normal
[28:00.560 --> 28:10.560]  In that it is in keeping with all current law and commercial practices
[28:10.560 --> 28:15.560]  It is no such thing as a piece of trash, I don't know who wrote that garbage
[28:15.560 --> 28:20.560]  But if you sit down and read it carefully
[28:20.560 --> 28:25.560]  Read the transfer of property rights section, then read the section right after it
[28:25.560 --> 28:36.560]  If MERS is included in the note, those two paragraphs absolutely do not make sense
[28:36.560 --> 28:45.560]  Somebody high on coke stuck a sentence fragment in the middle of the second paragraph
[28:45.560 --> 28:55.560]  That changes the deed of trust into a grant, if the document is a deed of trust
[28:55.560 --> 29:04.560]  If it's a mortgage, the transfer paragraph purports to transfer the legal title to the lender
[29:04.560 --> 29:11.560]  And the next paragraph transfers legal title to MERS
[29:11.560 --> 29:17.560]  Well, it has to go to one or the other, but it can't go to both, if it's a deed of trust
[29:17.560 --> 29:25.560]  Then this sentence that purports to transfer legal title to MERS
[29:25.560 --> 29:32.560]  Makes it not a trust document anymore because it takes the authority away from the trustee
[29:32.560 --> 29:36.560]  There's a lot more but I won't go into those, we do have a caller on
[29:36.560 --> 29:41.560]  As soon as we come back on the other side, Tony, we will pick up your call
[29:41.560 --> 29:44.560]  We will be having the phone lines be open all night
[29:44.560 --> 29:48.560]  Our caller number is 512-646-1984
[29:48.560 --> 29:55.560]  We'll pick calls on the questions on mortgage or any other topic that's within our scope
[29:55.560 --> 30:02.560]  Thank you for calling, thank you for being here, we'll be right back
[30:25.560 --> 30:30.560]  So protect your rights, say no to surveillance and keep your information to yourself
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[31:22.560 --> 31:29.560]  I'm Dr. Catherine Albrecht, more news and information at CatherineAlbrecht.com
[31:29.560 --> 31:35.560]  This is Building 7, a 47-story skyscraper that fell on the afternoon of September 11
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[37:30.560 --> 37:36.560]  Tony, where were we? Oh, hold on. There we go.
[37:36.560 --> 37:38.560]  Can you hear me?
[37:38.560 --> 37:40.560]  Yes.
[37:40.560 --> 37:42.560]  Okay, yeah, I called back in.
[37:42.560 --> 37:55.560]  Well, I was saying that gold was convertible at $20 an ounce up to $33 for Americans, and it was repriced by Roosevelt at $35 an ounce.
[37:55.560 --> 38:00.560]  Then Nixon closed the gold window on the international market at $71.
[38:00.560 --> 38:21.560]  I know you said $65, but it was $71, and then you had the inflation of the $70s, which was stamped out during the Reagan administration with the huge interest rates, 20 percent, by Volcker, the Fed chairman, which was a little overboard, caused a bad recession.
[38:21.560 --> 38:33.560]  I just wanted to correct that a little bit. But you were saying that you were talking about something else entirely, I think.
[38:33.560 --> 38:41.560]  Yes, someone brought that up about the government manipulating the price of gold and silver.
[38:41.560 --> 38:48.560]  The call-in show last night was about foreclosure, and that was kind of off-subject.
[38:48.560 --> 38:57.560]  Right. As far as that goes, I think the actual banks are doing that, like JP Morgan.
[38:57.560 --> 39:11.560]  A lot of people say that they're suppressing the silver price as well as the gold price in the Fed, and perhaps the Treasury might be involved as well.
[39:11.560 --> 39:23.560]  There would be a really good reason to manipulate the price of silver, because the value of the dollar would not be directly related to the price of gold.
[39:23.560 --> 39:27.560]  It's directly related to the price of silver.
[39:27.560 --> 39:44.560]  If the amount of dollars it takes to buy silver goes up, that constitutes inflation. That's a demonstration that the dollar is losing ground against other world currencies, and that's what we call inflation.
[39:44.560 --> 40:09.560]  If you have a $200,000 mortgage, and we go into essentially spiraling inflation, as the dollar gets less valuable, the dollar amount of your mortgage doesn't increase because the mortgage is based on dollars.
[40:09.560 --> 40:24.560]  Had they based the mortgage on the amount of silver it would take to purchase the property at the time of sale instead of dollars, they'd be okay.
[40:24.560 --> 40:27.560]  They wouldn't care what happened to the dollar.
[40:27.560 --> 40:36.560]  But they based the value on dollars, so they have to keep that value stable, or they'll lose their behinds.
[40:36.560 --> 40:44.560]  I'm not sure what you mean by silver is directly involved with the dollar.
[40:44.560 --> 40:52.560]  There's no correlation except that a rise in silver or gold makes the dollar look bad.
[40:52.560 --> 41:09.560]  If the dollar is weakening, as it has over the past decade up until the crash, silver and gold went up three or four folds over the previous decade.
[41:09.560 --> 41:14.560]  But there's not really any correlation. There's no convertibility there.
[41:14.560 --> 41:34.560]  Do you not know anything about how the currency works? If dollar is just a green piece of paper, its value is based on how many of those it takes to purchase a particular item.
[41:34.560 --> 41:46.560]  The dollar originally was based on silver. If Deborah's there, it's 3.7-something grams of silver.
[41:46.560 --> 41:51.560]  It's 345 grains.
[41:51.560 --> 42:07.560]  Deborah would know it if she was there. She's kind of distracted, but for all the time that the dollar was based on silver, the dollar would buy an exact amount of silver.
[42:07.560 --> 42:15.560]  In 1965, Nixon changed all that. That's when the dollar became a fiat currency.
[42:15.560 --> 42:24.560]  Up until then, the dollar was a silver certificate. At that time, it stopped being a silver certificate.
[42:24.560 --> 42:38.560]  So we can gauge inflation of the dollar by how many dollars it takes to buy the amount of silver you find in a silver dollar.
[42:38.560 --> 42:58.560]  So go ahead and try to buy a silver dollar today. For 150 years or 100 years, a little over 100 years, almost 200 years, you can buy that amount of silver with one dollar.
[42:58.560 --> 43:11.560]  Try to buy one now. It'll cost you about $12 to $15 per silver dollar.
[43:11.560 --> 43:35.560]  That's called inflation. To buy the exact same commodity, it takes more green dollars. If it goes to 20 or 30 green dollars to buy that silver dollar, then that's what's called inflation because the silver never changes.
[43:35.560 --> 43:42.560]  That's not exactly true. Silver does kind of change. I'll speak to that when we come back from break.
[43:42.560 --> 43:50.560]  Silver's changing because we're running out of silver. Gold is actually more stable than silver, and it never really changes.
[43:50.560 --> 44:05.560]  Hang on. This is Randy Kelton Davis-Stevens, Radio. Our call in number 512-646-1984. We'll be right back.
[44:21.560 --> 44:29.560]  Take a peek at some of our other wonderful products, including our Australian emu oil, lotion candles, olive oil soaps, and colloidal silver and gold.
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[46:12.560 --> 46:37.560]  Okay, we are back. Randy Kelton, Deborah Stevens, Rule of Law Radio, and Tony, I kind of stepped on you a little bit.
[46:37.560 --> 46:55.560]  We cannot be that far apart on our understanding of the monetary system, so I think I kind of have a misunderstanding where the English is a nice language, but it really sucks for establishing a clear meeting of minds.
[46:55.560 --> 47:14.560]  I'm sure you understand the relationship between hard objects and how many dollars it takes to buy hard objects, and I was only referring to silver as traditionally in all currencies having been the standard for any metal-backed currency.
[47:14.560 --> 47:28.560]  According to Dr. V, there's never been a currency backed by gold. It's always been backed by silver, but at this point, silver is becoming a real commodity because we're using more silver than we're mining.
[47:28.560 --> 47:39.560]  Gold is, in fact, a much more stable gauge because we pretty well got all the gold that we've ever mined.
[47:39.560 --> 47:53.560]  So your comment, Tony, are we just talking about the same thing in different words?
[47:53.560 --> 48:19.560]  I don't know. I just looked up the original dollar. The word dollar was based on the Spanish, which was circulating at the time, and the Coinage Act of 1792, they basically measured what that Spanish dollar was, how much that weighed in silver, which was 371.25 grains of silver.
[48:19.560 --> 48:24.560]  So that's what was a dollar originally. That's what I remembered.
[48:24.560 --> 48:47.560]  Yeah, but my understanding is that at some point, there was gold convertibility, and it was $20 an ounce when the Fed came into being, and it was up until 1933, FDR gets elected. He closes the gold window for American citizens. He tells everybody to turn in their gold.
[48:47.560 --> 49:06.560]  Yeah, but that just said you could buy gold, and then they said you couldn't buy gold anymore. But the dollar was never based on gold. You could just buy gold with it. You could turn in the dollar for gold instead of silver, but it was always based on silver. There's always a silver certificate.
[49:06.560 --> 49:14.560]  Oh, maybe you're not as old as me. I remember when all dollar bills were silver certificates.
[49:14.560 --> 49:35.560]  I know what you're talking about with the silver certificates, but when you say that it's not backed by gold, I mean, if you can go and turn it in at a bank, and it used to say on the bills that it's convertible into gold, and I think they even had gold lettering on them prior to the 1930s.
[49:35.560 --> 49:41.560]  Okay. I wasn't aware of that. But, okay, Deborah did want to chime in. Deborah?
[49:41.560 --> 49:54.560]  Well, I was just going to say what he already looked up, which is about the Coinage Act of 1792, where the dollar is defined as a unit of weight of silver. Yeah, and yes, that's true, 371.25 grains of silver.
[49:54.560 --> 50:19.560]  And, you know, back to what Randy was saying, I just wanted to comment on that, about the lenders, the mortgage companies. If they had defined the amount of their loan in terms of how much silver it would be the equivalent amount of silver at the time of the loan, then however much the dollar fluctuates, it wouldn't be a problem for them.
[50:19.560 --> 50:34.560]  But they didn't. They defined their loan in terms of not even dollars, but Federal Reserve notes, technically. And that's a floating currency. It's the funny money system. They're not real dollars. And what does it float against?
[50:34.560 --> 50:57.560]  Well, it floats against many things. And the purchasing power of the fluctuates at such a rate that it's all over the map, just even within from one second to the next, from one millisecond to the next. It floats against other currencies, and obviously it floats against commodities, metals.
[50:57.560 --> 51:12.560]  And the thing is, if you look at, going back to what Randy was saying about the nature of silver and gold, you know, historically gold has been the quote unquote currency of the elite, and then silver would be the currency of the common person.
[51:12.560 --> 51:41.560]  And if you look at, like, say what, how many Federal Reserve notes does it take to buy an ounce of gold right now? Approximately 1,300, some odd, almost 1,400 Federal Reserve notes. Well, back in the old school days in ancient Greece, ancient Rome, for about an ounce of gold, you could buy a very, you know, high-end tunic, a suit, if you will, a nice leather belt, a nice pair of leather sandals, you know, maybe a hat.
[51:41.560 --> 51:52.560]  All right? And nowadays, same thing, for around 1,300, 1,400 bucks, you can get yourself a nice suit, nice silk shirt, nice tie, nice leather belt, nice pair of shoes and a hat.
[51:52.560 --> 52:14.560]  And so when you look at the purchasing power of just gold, for example, nothing's changed for thousands of years. And this same thing applies to silver, except as of recently, over the last few decades, silver has become used industrially.
[52:14.560 --> 52:31.560]  And so it's become basically not just a commodity, but a resource that is eaten up. It's used up. It's practically burned up like wood. All right? It's used in electronics. It's used everywhere.
[52:31.560 --> 52:49.560]  And the cost to retrieve the silver after it's been used, after it's been, you know, embedded in all these microchips and everything and motherboards, et cetera, okay, the amount that it would cost to retrieve the silver after the fact, it just has not been worth it to do that.
[52:49.560 --> 53:11.560]  So they just throw it in the trash pile. They just go to the landfill. It's gone. It's being used up. And so Randy is right. And all the leading metals experts are saying that, I mean, well, for one thing, the historical ratio of silver to gold right now is far below what it has ever been.
[53:11.560 --> 53:23.560]  And they expect it to rebound back to its historical ratio, which I can't remember exactly what that was. I think around 1 to 17 or something like that. Right now it's like 1 to 50 or something outrageous.
[53:23.560 --> 53:47.560]  Not only is it going to rebound back to its historical ratio, but they expect silver to reach parity with gold and even become more expensive to obtain. And even the leading experts are saying it will probably be the first element to disappear off the periodic chart because they're using it up faster than they can even get it out of the ground.
[53:47.560 --> 53:49.560]  Unless we can find more.
[53:49.560 --> 54:16.560]  Yeah. And that means having to go very deep, very deep mines. And I think that they have found some very deep veins. But right now, because of all the manipulation of the spot price, it's not worth it for the investors to invest in the mining, the cost of the mining to go that deep because it would cost far more to mine the silver out than what they can get for it.
[54:16.560 --> 54:19.560]  And so at some point that's going to change.
[54:19.560 --> 54:27.560]  If anything is going to send us to the asteroid belt, it'll be silver.
[54:27.560 --> 54:34.560]  When they put the point on the Washington monument.
[54:34.560 --> 54:42.560]  They use the most valuable metal on planet Earth.
[54:42.560 --> 54:46.560]  Aluminum.
[54:46.560 --> 54:54.560]  At the at the time we had not figured out how to efficiently extract aluminum from bauxite.
[54:54.560 --> 55:08.560]  We were familiar with aluminum, but it like platinum, palladium or some of these other rare precious metals was the most expensive metal on the planet at the time.
[55:08.560 --> 55:12.560]  Well, now we make beer cans out of it.
[55:12.560 --> 55:16.560]  Silver is going in the other direction.
[55:16.560 --> 55:20.560]  We know how to extract silver from the ore, we just ran out of ore.
[55:20.560 --> 55:28.560]  All of the surface mines for silver have all been mined out. It's all gone.
[55:28.560 --> 55:30.560]  They're going deeper and deeper.
[55:30.560 --> 55:39.560]  Until they stop manipulating. If there is a place to invest, that is the place.
[55:39.560 --> 55:41.560]  If you could put your money in silver.
[55:41.560 --> 55:48.560]  I'm not an economist and I don't pretend to be, but there are some things that are clear.
[55:48.560 --> 56:03.560]  This is one of those things that years from now we look back and say, well, if I only knew then what I know now, this is then by silver.
[56:03.560 --> 56:05.560]  And that's all I got to say on that.
[56:05.560 --> 56:11.560]  Tony, you did have some questions on foreclosure.
[56:11.560 --> 56:18.560]  Well, can I say one more thing? I don't want to take the whole show.
[56:18.560 --> 56:30.560]  Well, I was just looking online here and it says the Gold Standard Act of 1900 abandoned the biometallic standard and defined the dollar as 23.22 grains of gold
[56:30.560 --> 56:37.560]  equivalent to setting the price of one troy ounce of gold at $20.67.
[56:37.560 --> 56:46.560]  And then Executive Order 6102 issued in 1933 by Roosevelt confiscated the gold coin.
[56:46.560 --> 56:57.560]  And then the gold standard was changed to 13.71 grains equivalent to setting the price of one troy ounce of gold at $35.
[56:57.560 --> 57:01.560]  This standard persisted until 1968.
[57:01.560 --> 57:13.560]  And then, you know, basically there was a run on four docks. You know, all my clients in Great Britain were trying to get gold for their dollars.
[57:13.560 --> 57:18.560]  And we were losing so much gold that I mixed and closed the gold window.
[57:18.560 --> 57:25.560]  And then Kissinger made the deal with the Saudis to have basically a dollar backed by oil.
[57:25.560 --> 57:34.560]  So internationally oil is bought by dollars.
[57:34.560 --> 57:37.560]  That's about to change.
[57:37.560 --> 57:42.560]  It's pretty close. And that's going to be pretty bad for us if that happens.
[57:42.560 --> 57:49.560]  Well, I don't know. Yes, it's going to be bad for us in the short run, good for us in the long run.
[57:49.560 --> 57:59.560]  That's true. That's true. Because even though it's not our dollar, you know, it's basically the banker's dollar, our lives are kind of intertwined with it.
[57:59.560 --> 58:04.560]  Yes. When that gets dumped, we'll go through an adjustment period.
[58:04.560 --> 58:11.560]  Then it will become valuable, become profitable to manufacture in the United States.
[58:11.560 --> 58:21.560]  All of those jobs NAFTA sent overseas will come rushing back into the United States, and we will rebuild our vigorous economy.
[58:21.560 --> 58:25.560]  Hang on, Randy Kelton, Dave Stevens, we'll roll our radio.
[58:25.560 --> 58:31.560]  I'll call in number 512-646-1984. We're going to our top of the hour break.
[58:31.560 --> 58:36.560]  We'll be two or three minutes. When we come back, we will go back to the phones.
[58:36.560 --> 58:41.560]  We'll go back to Tony in Illinois and Rosanna in Ohio. I'll see you there.
[58:41.560 --> 58:45.560]  We'll pick you up on the other side. We'll be right back.
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[59:50.560 --> 59:59.560]  You're listening to the Logos Radio Network at logosradionetwork.com.
[01:00:03.560 --> 01:00:11.560]  You're listening to the Liberty Beat, your daily source for Liberty news and activist updates, online at thelibertybeat.com.
[01:00:11.560 --> 01:00:22.560]  This is Justin Armand, and this is Jessica Armand, here with your Liberty Beat for Thursday, October 3rd, 2013.
[01:00:22.560 --> 01:00:32.560]  Gold opened today at $1,314, silver at $21.73, and Bitcoin is trading at $109.49.
[01:00:32.560 --> 01:00:41.560]  The Liberty Beat is sponsored by Sons of Liberty Mint, specializing in usable and divisible silver and known for their excellent customer service.
[01:00:41.560 --> 01:00:47.560]  Online at sonsoflibertymint.com. That's S-U-N-S of libertymint.com.
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[01:00:56.560 --> 01:01:03.560]  And now the news. Conspiracy to commit murder has been added to the charges against the alleged operator of Silk Road.
[01:01:03.560 --> 01:01:12.560]  The website was shut down Tuesday by federal agents, and a 29-year-old San Francisco man was arrested in connection with operating the online black market bazaar.
[01:01:12.560 --> 01:01:22.560]  When word of the arrest of Ross William Ulbrick first broke, he was facing charges of narcotics trafficking conspiracy, computer hacking conspiracy, and money laundering conspiracy.
[01:01:22.560 --> 01:01:27.560]  Wired now reports that a second complaint charges him with conspiracy to commit murder.
[01:01:27.560 --> 01:01:41.560]  This arises from the allegations that Ulbrick, believed to be the website's operator known as the Dread Pirate Roberts, tried to arrange a murder for hire with one of the site's clients.
[01:01:41.560 --> 01:01:48.560]  The Power and Water Systems Board of Public Utilities in Columbia, Tennessee, voted three to five to discontinue fluoridating the city's water.
[01:01:48.560 --> 01:01:57.560]  The decision makes Columbia the 136th community since 2010 to reject water fluoridation.
[01:01:57.560 --> 01:02:05.560]  Monsanto reveals a drop in gross profits Wednesday while also announcing the company's acquisition of a high-tech climate data company.
[01:02:05.560 --> 01:02:12.560]  The GMO giant touted its purchase of San Francisco-based Climate Corp as a transformational event.
[01:02:12.560 --> 01:02:25.560]  Routers reports that the resulting weather data products will be incorporated into Monsanto's field scripts planting platform used by farmers for planting, field management, and harvesting decisions.
[01:02:25.560 --> 01:02:35.560]  Monsanto chairman Hugh Grant calls the acquisition the entry ticket into a $20 billion market opportunity.
[01:02:35.560 --> 01:02:46.560]  If you are a parent who wishes to provide the very best education for your children, don't miss the Parents for Liberty education conference next Saturday on October 12th in Austin.
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[01:02:49.560 --> 01:03:04.560]  You've been listening to the Liberty Beat. Remember, freeing your mind is freeing our world.
[01:03:04.560 --> 01:03:30.560]  Okay, we are back. Randy Kelton, Deborah Stevens, Newgla Radio.
[01:03:30.560 --> 01:03:34.560]  And Deborah had a couple comments she wanted to make. Deb?
[01:03:34.560 --> 01:03:46.560]  Yeah, thanks, Randy. Yeah, just before we go back to Tony quickly, I know we've got really savvy listeners, but for our new listeners and maybe for folks out there who haven't really studied the monetary system,
[01:03:46.560 --> 01:04:08.560]  I just wanted to go back to this issue and just kind of make it clear just why we're saying that the mortgage companies, the lenders are basically, you know, going to be in a bad way because they didn't set the amounts of their loan as far as the amount of silver at the time of the loan rather than Federal Reserve notes.
[01:04:08.560 --> 01:04:24.560]  Well, the reason we're saying that is obviously folks out there who understand what we're saying is because of hyperinflation and what we're talking about, how we consider, we are measuring the purchasing power of our currency.
[01:04:24.560 --> 01:04:33.560]  We're measuring it up against how many Federal Reserve notes does it take to purchase an ounce of silver or an ounce of gold?
[01:04:33.560 --> 01:04:40.560]  See, remember, Federal Reserve notes have no value. There's a difference between value and purchasing power.
[01:04:40.560 --> 01:04:54.560]  Value is something that is inherent. It's something that's by nature. You know, silver and gold, salt, okay, commodities, these all have inherent value.
[01:04:54.560 --> 01:05:01.560]  They provide that you can use them for something. It's worth something in and of itself. It doesn't matter what your currency is.
[01:05:01.560 --> 01:05:10.560]  The currency, Fiat currency has no value. It only has purchasing power. What is the purchasing power of the currency?
[01:05:10.560 --> 01:05:13.560]  Will you measure it up against any particular commodity?
[01:05:13.560 --> 01:05:29.560]  All right, and so what we're saying is that as the currency continues to devalue or rather depurchase power, loses its purchasing power, it's going to take more and more and more and more Federal Reserve notes to purchase these commodities.
[01:05:29.560 --> 01:05:42.560]  And right now, of course, there's all this manipulation going on in the metals market and other commodities market to keep, you know, the fraud going, to keep the illusion that there's no inflation, no hyperinflation.
[01:05:42.560 --> 01:05:52.560]  But, of course, I like the analogy of consider a beach ball, all right, and you're in the pool or at the beach or whatever and you're pushing the beach ball down under the water.
[01:05:52.560 --> 01:06:00.560]  Well, they keep trying to push the beach ball under the water, but the further they try to push it down, at some point they've got to lose control.
[01:06:00.560 --> 01:06:06.560]  And then when their fingers slip off of it, that thing is going to come shooting up out of the water like a rocket.
[01:06:06.560 --> 01:06:11.560]  Okay, that's what spot price is. That's what's going to happen with spot price.
[01:06:11.560 --> 01:06:19.560]  And so at that point, that's when we're going to really see the hyperinflation come in and you're going to see outrageous prices for everything.
[01:06:19.560 --> 01:06:31.560]  And so what that means is the number, the sheer number of Federal Reserve notes that it will take to buy things will be an astronomical amount more than what it used to be.
[01:06:31.560 --> 01:06:39.560]  I mean, you know, people think that just because we're America that the same thing can't happen here as what happened in Argentina or Zimbabwe.
[01:06:39.560 --> 01:06:47.560]  Hey, we're no different. The bankers are trying to crash our economy just like they crashed every other economy in the world on purpose.
[01:06:47.560 --> 01:06:55.560]  All right. I mean, and so the point is when that happens, these lenders are going to be stuck with, say, a loan.
[01:06:55.560 --> 01:07:01.560]  They lend out $200,000 for a house, for example, a $200,000 loan.
[01:07:01.560 --> 01:07:10.560]  Well, if they've only gotten paid back 10 grand of it, well, then they got this $190,000 outstanding loan for a piece of property.
[01:07:10.560 --> 01:07:17.560]  And basically at that point in time, 190,000 Federal Reserve notes ain't going to be a whole lot.
[01:07:17.560 --> 01:07:20.560]  It will take that much to buy, say, a car.
[01:07:20.560 --> 01:07:27.560]  Okay. And so that's why we're saying the lenders will be screwed because their loans will be in amounts of Federal Reserve notes.
[01:07:27.560 --> 01:07:34.560]  And then the people who are holding onto the commodities, well, you just go sell a few ounces of silver and pay off your mortgage by that point.
[01:07:34.560 --> 01:07:40.560]  I mean, you know, I'm sure a lot of people out there have heard of the famous story in Zimbabwe.
[01:07:40.560 --> 01:07:45.560]  And I think this like hit all over the news many years ago of the woman.
[01:07:45.560 --> 01:07:54.560]  I mean, it would take literally billions if not trillions of dollars of Zimbabwe currency to buy a bag of groceries.
[01:07:54.560 --> 01:07:58.560]  All right. And they didn't have, you know, electronic currency.
[01:07:58.560 --> 01:08:00.560]  You know, it's like paper, everything.
[01:08:00.560 --> 01:08:08.560]  And so, I mean, you would have to, you know, drag in huge bags full, bagfuls of paper currency.
[01:08:08.560 --> 01:08:21.560]  I mean, literally, it wasn't, you would rather to use the paper, the currency for toilet paper because you couldn't buy as much toilet paper with a paper currency as to just use the paper currency for the toilet paper.
[01:08:21.560 --> 01:08:24.560]  Literally, it was that, it was worse than that bag.
[01:08:24.560 --> 01:08:34.560]  And so, I'm sure everyone's heard the story or a lot of people have of the woman who goes to the grocery store with the wheelbarrow full just piled with all this paper currency.
[01:08:34.560 --> 01:08:38.560]  Well, the currency was so worthless, people would do this all the time.
[01:08:38.560 --> 01:08:46.560]  They would leave their stash of worthless paper currency outside because even if somebody grabbed an armful of it, well, so what?
[01:08:46.560 --> 01:08:48.560]  It's like they stole a nickel from you or something.
[01:08:48.560 --> 01:08:54.560]  And so, she has her wheelbarrow sitting outside because you can't bring in the wheelbarrow into the store and navigate through the aisles and everything.
[01:08:54.560 --> 01:08:57.560]  She leaves the wheelbarrow outside with all the paper currency.
[01:08:57.560 --> 01:08:59.560]  When she comes back, guess what got stolen?
[01:08:59.560 --> 01:09:02.560]  The wheelbarrow and not the currency.
[01:09:02.560 --> 01:09:06.560]  They just dumped out the paper currency and took the wheelbarrow.
[01:09:06.560 --> 01:09:06.560]  Okay.
[01:09:06.560 --> 01:09:09.560]  So, folks, don't think that this can't happen here in America.
[01:09:09.560 --> 01:09:10.560]  All right.
[01:09:10.560 --> 01:09:17.560]  And that's why Randy's saying don't be in such a big hurry to pay off your mortgage because, hey, when hyperinflation hits,
[01:09:17.560 --> 01:09:21.560]  the lenders are going to be the one that is going to be screwed, not you.
[01:09:21.560 --> 01:09:23.560]  Yeah, and I have a solution.
[01:09:23.560 --> 01:09:28.560]  I have the solution by coffee cups.
[01:09:28.560 --> 01:09:30.560]  Coffee cups.
[01:09:30.560 --> 01:09:32.560]  Yeah, coffee cups.
[01:09:32.560 --> 01:09:37.560]  No matter what happens to the dollar, you take that coffee cup.
[01:09:37.560 --> 01:09:44.560]  That coffee cup is going to take a certain amount of materials.
[01:09:44.560 --> 01:09:50.560]  It's going to take a certain amount of labor to produce that coffee cup.
[01:09:50.560 --> 01:09:59.560]  Whatever happens to the dollar, the amount of materials and labor to produce that coffee cup is not going to change.
[01:09:59.560 --> 01:10:01.560]  Point.
[01:10:01.560 --> 01:10:13.560]  When the dollar is destabilized as it is now, get all of your assets out of dollar-denominated assets.
[01:10:13.560 --> 01:10:16.560]  Yeah, you shouldn't be having any fiat currency assets.
[01:10:16.560 --> 01:10:23.560]  You should not have – you should not be storing your quote-unquote wealth in any paper currency, fiat currency at all.
[01:10:23.560 --> 01:10:24.560]  I don't care if it's euros.
[01:10:24.560 --> 01:10:25.560]  I don't care if it's yawns.
[01:10:25.560 --> 01:10:26.560]  I don't care anything.
[01:10:26.560 --> 01:10:34.560]  You better get out of digital or paper fiat currency altogether and just go straight for assets.
[01:10:34.560 --> 01:10:39.560]  Even if you don't want to do metals, you better have some assets, even if it's coffee cups.
[01:10:39.560 --> 01:10:40.560]  Or how about coffee?
[01:10:40.560 --> 01:10:41.560]  Hard.
[01:10:41.560 --> 01:10:42.560]  People are going to want coffee.
[01:10:42.560 --> 01:10:52.560]  Hard assets are not a way, as a rule generally, not a way to increase wealth.
[01:10:52.560 --> 01:11:02.560]  But just like the Toba and the Turban and the sandals you could buy with an ounce of gold 2,000 years ago,
[01:11:02.560 --> 01:11:05.560]  these things will maintain your wealth.
[01:11:05.560 --> 01:11:16.560]  And in a time of economic upheaval, as we're going into now, now is a good time to stabilize the wealth that you have.
[01:11:16.560 --> 01:11:21.560]  You can speculate in these times, but that is incredibly risky.
[01:11:21.560 --> 01:11:23.560]  You really have to know your business.
[01:11:23.560 --> 01:11:32.560]  If you want your assets in a form that will weather this economic turmoil, put in something hard.
[01:11:32.560 --> 01:11:38.560]  Gold, silver, platinum, palladium, machinery, coffee cups, property,
[01:11:38.560 --> 01:11:44.560]  all of these things that are always going to be here no matter what happens to that fiat currency.
[01:11:44.560 --> 01:11:52.560]  And when the fiat currency stabilizes your value that you have now, you will still have then.
[01:11:52.560 --> 01:11:58.560]  And while it's not a way to increase your value,
[01:11:58.560 --> 01:12:04.560]  when everybody else has lost everything they have and you've maintained your value,
[01:12:04.560 --> 01:12:07.560]  it will have the appearance of increasing your value.
[01:12:07.560 --> 01:12:12.560]  Yeah, it'll have the effect of increasing your value, yes.
[01:12:12.560 --> 01:12:18.560]  And if it's silver, it may actually increase your value, because like I said,
[01:12:18.560 --> 01:12:22.560]  they're using up silver as a resource in manufacturing.
[01:12:22.560 --> 01:12:29.560]  Gold is also used in manufacturing, but they are not chomping through it as fast as they're chomping through silver.
[01:12:29.560 --> 01:12:33.560]  And so with silver, you actually could increase.
[01:12:33.560 --> 01:12:39.560]  The amount of gold that's used in industry is so minor as to be insignificant.
[01:12:39.560 --> 01:12:46.560]  We essentially have all of the gold that we've ever mined, except that what we've lost at sea or somewhere else.
[01:12:46.560 --> 01:12:49.560]  For the most part, all the gold is still here.
[01:12:49.560 --> 01:12:53.560]  So gold has been absolutely the most stable.
[01:12:53.560 --> 01:13:00.560]  Anybody who's looking at gold and say, oh, gold is increasing in value, it is doing no such thing.
[01:13:00.560 --> 01:13:02.560]  No, metals don't increase in value.
[01:13:02.560 --> 01:13:03.560]  Metals are constant.
[01:13:03.560 --> 01:13:06.560]  It's the currencies that change.
[01:13:06.560 --> 01:13:13.560]  The only metals that increase in value are those that are used in industry, like lead.
[01:13:13.560 --> 01:13:17.560]  Sometimes a lot of lead is purchased, sometimes not a lot.
[01:13:17.560 --> 01:13:20.560]  Copper, copper goes up and down depending on how it's used in industry.
[01:13:20.560 --> 01:13:23.560]  Silver is becoming one of those commodities.
[01:13:23.560 --> 01:13:24.560]  Gold is not.
[01:13:24.560 --> 01:13:31.560]  Gold is a good standard, and it probably would have been a better standard over time than silver.
[01:13:31.560 --> 01:13:40.560]  But in order to have a velocity of money, you had to have a bunch of money available.
[01:13:40.560 --> 01:13:47.560]  And silver was the only thing that was conducive to having a lot of money available.
[01:13:47.560 --> 01:13:56.560]  Steel would deteriorate to copper tarnishes, and it's not valuable enough anyway.
[01:13:56.560 --> 01:14:01.560]  Silver was a really good candidate for the poor man's money.
[01:14:01.560 --> 01:14:10.560]  You could have a coin that you could hold and switch around and transfer trade for product
[01:14:10.560 --> 01:14:15.560]  that you could carry enough with you, and there was enough to go around
[01:14:15.560 --> 01:14:18.560]  so everybody could have money that they could use to change.
[01:14:18.560 --> 01:14:20.560]  So there'd be a lot of velocity of money.
[01:14:20.560 --> 01:14:23.560]  Gold, it wasn't enough of it to be able to do that.
[01:14:23.560 --> 01:14:26.560]  Yeah, and now with gold in manufacturing, it is used in manufacturing,
[01:14:26.560 --> 01:14:31.560]  but like we were saying, not as much as silver, but the thing with gold in manufacturing
[01:14:31.560 --> 01:14:37.560]  is that it's valuable enough to make it worth it to retrieve it and recover it
[01:14:37.560 --> 01:14:42.560]  after it's been used for whatever purpose it's going to be used for.
[01:14:42.560 --> 01:14:46.560]  So they are recovering, and they have been recovering, whatever gold they use in manufacturing.
[01:14:46.560 --> 01:14:50.560]  They're not doing that with silver, but I have a feeling it ain't going to be too long
[01:14:50.560 --> 01:14:55.560]  before it's going to be worth it to them to start retrieving and recovering the silver too.
[01:14:55.560 --> 01:15:04.560]  Right, if there's any hard commodity that has the potential of increasing in value tremendously,
[01:15:04.560 --> 01:15:06.560]  that's going to be silver.
[01:15:06.560 --> 01:15:12.560]  There are probably some others around, but that one is the most dramatic.
[01:15:12.560 --> 01:15:20.560]  So the one thing about silver, relative to gold, it will not decrease in value.
[01:15:20.560 --> 01:15:26.560]  Oh, it may flush away up and down because they're still trying to manipulate it to maintain the stability of the dollar,
[01:15:26.560 --> 01:15:30.560]  but the dollar is going to crash, and all that nonsense will go away,
[01:15:30.560 --> 01:15:35.560]  and silver will eventually be allowed to flow back to where it should be.
[01:15:35.560 --> 01:15:43.560]  Gold and silver, platinum, palladium, copper, lead, zinc, machinery, property.
[01:15:43.560 --> 01:15:45.560]  Property is probably a good value now.
[01:15:45.560 --> 01:15:49.560]  For the last two or four years, I've been saying stay away from property.
[01:15:49.560 --> 01:15:51.560]  Property values are dropping like a stone.
[01:15:51.560 --> 01:15:54.560]  Yeah, whenever something drops like a stone, it's a good time to buy.
[01:15:54.560 --> 01:16:00.560]  You know, Randy, I was thinking one other thing about gold and silver and which ones to invest in.
[01:16:00.560 --> 01:16:04.560]  You know, governments have confiscated gold all throughout the history of mankind,
[01:16:04.560 --> 01:16:09.560]  especially in recent history, but governments have never confiscated silver.
[01:16:09.560 --> 01:16:16.560]  And so if you're worried about the potential of government confiscation or a ban on owning it,
[01:16:16.560 --> 01:16:21.560]  you know, illegal to own it, it's probably more likely that they will re-institute a ban
[01:16:21.560 --> 01:16:27.560]  or a confiscation of gold rather than silver unless they determine or declare
[01:16:27.560 --> 01:16:33.560]  that silver is some type of strategic resource, which there is a danger of that.
[01:16:33.560 --> 01:16:36.560]  But, you know, you've got to look at history.
[01:16:36.560 --> 01:16:38.560]  They've never confiscated silver.
[01:16:38.560 --> 01:16:41.560]  As silver gets more scarce, that will happen.
[01:16:41.560 --> 01:16:43.560]  That will be 20, 30 years.
[01:16:43.560 --> 01:16:46.560]  So we still have time for that.
[01:16:46.560 --> 01:16:49.560]  For a long-time investment, it's probably silver or property right now,
[01:16:49.560 --> 01:16:51.560]  because property is going to be going up.
[01:16:51.560 --> 01:16:52.560]  Hang on.
[01:16:52.560 --> 01:16:54.560]  Randy Kelton, Deborah Stevens, Rural Law Radio.
[01:16:54.560 --> 01:16:55.560]  Sorry, Tony.
[01:16:55.560 --> 01:16:57.560]  We'll shut up on the other side and get back to you.
[01:16:57.560 --> 01:17:00.560]  We'll be right back.
[01:17:00.560 --> 01:17:04.560]  Through advances in technology, our lives have greatly improved,
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[01:17:06.560 --> 01:17:09.560]  People feed their pets better than they feed themselves,
[01:17:09.560 --> 01:17:11.560]  and it's time we changed all that.
[01:17:11.560 --> 01:17:15.560]  The primary defense against aging and disease in this toxic environment
[01:17:15.560 --> 01:17:17.560]  is good nutrition.
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[01:19:39.560 --> 01:19:41.560]  Okay, we are back.
[01:19:41.560 --> 01:19:44.560]  We're in the Kelton, Deborah Stevens, Rule of Law Radio.
[01:19:44.560 --> 01:19:49.560]  And we're going to stop talking about money and go to Tony in Illinois.
[01:19:49.560 --> 01:19:52.560]  Did you have another money comment, Tony?
[01:19:52.560 --> 01:19:55.560]  Well, there's so much that could be said, but, you know,
[01:19:55.560 --> 01:19:58.560]  if you only have a two-hour show, you could easily do a full show just on this.
[01:19:58.560 --> 01:20:02.560]  We could do a full show on money, easy.
[01:20:02.560 --> 01:20:03.560]  Yeah.
[01:20:03.560 --> 01:20:08.560]  But people should be aware also that their bank accounts could be confiscated, too.
[01:20:08.560 --> 01:20:11.560]  We've already done that in other countries such as Cyprus.
[01:20:11.560 --> 01:20:15.560]  So people should be aware of that, especially if you have it in one of the major banks that are involved.
[01:20:15.560 --> 01:20:18.560]  Very, very good point.
[01:20:18.560 --> 01:20:25.560]  You could wake up tomorrow and your money could be worth 20%, 30% less.
[01:20:25.560 --> 01:20:28.560]  Yeah, that's called a bank holiday.
[01:20:28.560 --> 01:20:31.560]  And do not expect any warning.
[01:20:31.560 --> 01:20:32.560]  Nope.
[01:20:32.560 --> 01:20:42.560]  So now is a good time to get all of your money out of the banks except that which you need to be liquid.
[01:20:42.560 --> 01:20:45.560]  And you might talk to Gold and Silver Exchange.
[01:20:45.560 --> 01:20:51.560]  Yeah, and you don't really want to just pull it out of the bank and store all of it in cash either
[01:20:51.560 --> 01:20:56.560]  because even though, you know, say they confiscate the bank accounts, you still have the cash.
[01:20:56.560 --> 01:20:59.560]  The problem is that when they confiscate the bank accounts,
[01:20:59.560 --> 01:21:04.560]  that's when they come in with the severe devaluation of the currency.
[01:21:04.560 --> 01:21:10.560]  And so they may as well have confiscated the cash in your house because it ain't going to be worth anything.
[01:21:10.560 --> 01:21:14.560]  You better put it into something, some hard asset, something.
[01:21:14.560 --> 01:21:22.560]  Yeah, gold and silver are something that you can convert back to a liquid asset relatively easily.
[01:21:22.560 --> 01:21:30.560]  Yeah, not like some very rare expensive piece of art that there's only a particular clientele that would be interested in it.
[01:21:30.560 --> 01:21:32.560]  Something that you could convert easily.
[01:21:32.560 --> 01:21:34.560]  That's a good point, Randy.
[01:21:34.560 --> 01:21:38.560]  A hard commodity, gold, silver, platinum, palladium, copper, lead.
[01:21:38.560 --> 01:21:43.560]  You know, these copper, lead, these things get kind of bulky to hold your value in.
[01:21:43.560 --> 01:21:46.560]  But lead, it'd be hard for somebody to steal.
[01:21:46.560 --> 01:21:52.560]  But something that you can purchase, hold, and then sell back.
[01:21:52.560 --> 01:21:55.560]  Gold might get you house robbed.
[01:21:55.560 --> 01:22:02.560]  Copper or lead or one of these other commodities, if you can buy them in a way that you don't have to store them yourselves.
[01:22:02.560 --> 01:22:03.560]  Sure, lead.
[01:22:03.560 --> 01:22:05.560]  Just be careful with futures.
[01:22:05.560 --> 01:22:06.560]  Yeah, lead.
[01:22:06.560 --> 01:22:08.560]  Lead, store up some bullets.
[01:22:08.560 --> 01:22:10.560]  Yeah.
[01:22:10.560 --> 01:22:13.560]  Those will be in high demand.
[01:22:13.560 --> 01:22:16.560]  And that is a good point.
[01:22:16.560 --> 01:22:17.560]  It well could be.
[01:22:17.560 --> 01:22:19.560]  Anything that you can sell back.
[01:22:19.560 --> 01:22:20.560]  Yeah, buy bullets.
[01:22:20.560 --> 01:22:27.560]  Buy something that does not lose its value over time.
[01:22:27.560 --> 01:22:32.560]  But that as you need liquid assets, you can turn it back into a liquid asset.
[01:22:32.560 --> 01:22:42.560]  In these uncertain times, property now is a good purchase, but it's for long-term value.
[01:22:42.560 --> 01:22:44.560]  It's not something you could convert to liquid.
[01:22:44.560 --> 01:22:47.560]  Do you have any suggestions, Tony?
[01:22:47.560 --> 01:22:57.560]  Well, ammo and food, long-term food, people should be prepared for any emergency that may occur, power outages, that sort of thing, a generator, that sort of thing.
[01:22:57.560 --> 01:23:03.560]  But as far as banks also, you know, you spoke with somebody who had dealt with MDMAQ.
[01:23:03.560 --> 01:23:12.560]  Well, it could be not necessarily a system-wide thing, but one bank could – and it could be your bank.
[01:23:12.560 --> 01:23:24.560]  And if you have your money in that bank, you may have trouble getting your money out of it, such as the people that MDMAQ did and many other banks back in 2007, 2008.
[01:23:24.560 --> 01:23:27.560]  Hey, Randy, I've got another suggestion, too.
[01:23:27.560 --> 01:23:30.560]  Seeds, heritage seeds.
[01:23:30.560 --> 01:23:36.560]  There have been times during the history of mankind where seeds have been more valuable than gold.
[01:23:36.560 --> 01:23:41.560]  Yeah, you have to have a lot of seeds these days.
[01:23:41.560 --> 01:23:44.560]  Well, the point is diversify your investment.
[01:23:44.560 --> 01:24:00.560]  Exactly. Put your money into things, things that people use, things that have intrinsic value in these uncertain times.
[01:24:00.560 --> 01:24:10.560]  You know, I'm not an economic whiz, so I don't know how to say this is the perfect thing you could invest in that you'll make a fortune on,
[01:24:10.560 --> 01:24:15.560]  because any time you can make a fortune, you can lose a fortune.
[01:24:15.560 --> 01:24:19.560]  It's like restaurants. A restaurant is a great place to make a fortune.
[01:24:19.560 --> 01:24:25.560]  You can take a large fortune and turn it into a small fortune very quickly.
[01:24:25.560 --> 01:24:32.560]  Get into something hard that you can weather out these economic hard times.
[01:24:32.560 --> 01:24:44.560]  And I had talked about this a while back about a place to put my money where they would hold my money and put a mark on a ledger,
[01:24:44.560 --> 01:24:49.560]  except instead of putting that mark on a ledger as X amount of dollars,
[01:24:49.560 --> 01:24:56.560]  they put that mark on a ledger as X amount of gold, silver, platinum, palladium, something.
[01:24:56.560 --> 01:25:07.560]  Instead of saving my money in fiat currency, they're saving my value, save my value in some other form.
[01:25:07.560 --> 01:25:13.560]  It is, after all, in the end only a mark on a ledger.
[01:25:13.560 --> 01:25:18.560]  The important part is what we compare that mark to.
[01:25:18.560 --> 01:25:26.560]  Now, we have an advertiser, gold and silver, on the network.
[01:25:26.560 --> 01:25:28.560]  And I had talked to him about this.
[01:25:28.560 --> 01:25:40.560]  And, Deborah, do you know if he has put together a program of this nature?
[01:25:40.560 --> 01:25:44.560]  Who? Did I lose you, Deb?
[01:25:44.560 --> 01:25:46.560]  No, I'm right here. I'm sorry. I'm sorry.
[01:25:46.560 --> 01:25:49.560]  What kind of program? My mic is muted.
[01:25:49.560 --> 01:25:57.560]  Oh, I had talked about the gold and silver exchange right up on McNaughton.
[01:25:57.560 --> 01:25:58.560]  Capital Coin and Bullion, yes.
[01:25:58.560 --> 01:26:00.560]  Capital Coin and Bullion.
[01:26:00.560 --> 01:26:07.560]  I had talked to them about me putting money into giving to them to buy silver with,
[01:26:07.560 --> 01:26:11.560]  and they hold the silver and just put a mark on the ledger for me.
[01:26:11.560 --> 01:26:14.560]  And then when I needed it, I could pull it back out.
[01:26:14.560 --> 01:26:19.560]  You mean like they would actually store it for you?
[01:26:19.560 --> 01:26:24.560]  Yeah, they would hold it. I buy the silver, they hold it.
[01:26:24.560 --> 01:26:27.560]  I haven't talked to them about that. I don't know anything about that.
[01:26:27.560 --> 01:26:30.560]  That was an idea I had back then.
[01:26:30.560 --> 01:26:35.560]  I don't think that, well, I don't know.
[01:26:35.560 --> 01:26:37.560]  Just from being in their business,
[01:26:37.560 --> 01:26:44.560]  I don't get the idea that they are really set up to be a storage facility like that.
[01:26:44.560 --> 01:26:51.560]  They may be able to connect you with entities that are storage facilities,
[01:26:51.560 --> 01:26:55.560]  safe storage facilities, but I don't think that they are set up for that.
[01:26:55.560 --> 01:26:57.560]  I don't know if they're intending to, but I can ask.
[01:26:57.560 --> 01:27:02.560]  There are a couple of companies around that I've heard of, one in particular.
[01:27:02.560 --> 01:27:08.560]  Look, it's like the new ad says, if we don't have what you're looking for, we can find it.
[01:27:08.560 --> 01:27:13.560]  So I'm sure that they can connect you with an entity that will do that if they're not going to do that.
[01:27:13.560 --> 01:27:18.560]  I somehow get the feeling that they're not going to make it part of their business to be a storage facility
[01:27:18.560 --> 01:27:22.560]  because that just requires so much overhead.
[01:27:22.560 --> 01:27:26.560]  They don't have to store it. I don't care about storage. It's not the point.
[01:27:26.560 --> 01:27:33.560]  When you go to the bank, the bank doesn't go get $10,000 green dollars and put it in a special place
[01:27:33.560 --> 01:27:40.560]  and say, this is your $10,000 green dollars, and I'm going to hold them for you.
[01:27:40.560 --> 01:27:44.560]  They don't do that. They put a mark on a ledger that says,
[01:27:44.560 --> 01:27:51.560]  I hold you $10,000 green dollars that you can come and get them when you want them.
[01:27:51.560 --> 01:27:54.560]  Until then, I'll hold them and use them.
[01:27:54.560 --> 01:28:00.560]  So instead of them putting a mark on the ledger that says, I hold $10,000 green dollars,
[01:28:00.560 --> 01:28:10.560]  I want them to put a mark on a ledger that says, I hold X ounces of silver in your name.
[01:28:10.560 --> 01:28:22.560]  At your leisure, at your whim, you can come and retrieve those X amount of silver in your name.
[01:28:22.560 --> 01:28:29.560]  Just like the bank does, instead of putting the mark on the ledger in graduated in green dollars,
[01:28:29.560 --> 01:28:34.560]  I want them to graduate it in a hard commodity, gold, silver, platinum, palladium.
[01:28:34.560 --> 01:28:38.560]  I don't care what it is, hard commodity.
[01:28:38.560 --> 01:28:42.560]  Brandy?
[01:28:42.560 --> 01:28:44.560]  Yes, go ahead.
[01:28:44.560 --> 01:28:48.560]  Well, it sounds like what you're saying. If they're not going to store it themselves,
[01:28:48.560 --> 01:28:53.560]  usually if they're going to store it for you, that would cost you money.
[01:28:53.560 --> 01:28:59.560]  But what it sounds like you're describing is sort of what the beginnings were of fractional reserve banking
[01:28:59.560 --> 01:29:05.560]  where hundreds of years ago, people would deposit their gold and then the...
[01:29:05.560 --> 01:29:12.560]  No, no, no, not fractional reserve. That's a whole other animal. Banking, period.
[01:29:12.560 --> 01:29:20.560]  Back then, they would loan out the gold, but the scenario you're saying is,
[01:29:20.560 --> 01:29:24.560]  what if they don't have the gold in stock? What if they've already sold the gold?
[01:29:24.560 --> 01:29:35.560]  Listen, listen. The only difference between this and the banking system we've had for 3,000 years,
[01:29:35.560 --> 01:29:45.560]  instead of storing my value in ducats or dinars or dollars, they store it in ounces of gold, silver, platinum, palladium, whatever.
[01:29:45.560 --> 01:29:50.560]  But the question is just a measure.
[01:29:50.560 --> 01:29:53.560]  Hang on. Randy Kelton, Debra Stevens, Rule of Law Radio.
[01:29:53.560 --> 01:30:00.560]  Call in number 512-646-1984. We'll be right back.
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[01:31:17.560 --> 01:31:30.560]  I'm Dr. Catherine Albrecht. More news and information at CatherineAlbrecht.com.
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[01:33:10.560 --> 01:33:30.560]  We are back. This is the rule of law.
[01:33:30.560 --> 01:33:33.560]  Okay, Tony, you're right.
[01:33:33.560 --> 01:33:40.560]  What Randy is describing is similar to the beginnings of fractional reserve banking,
[01:33:40.560 --> 01:33:46.560]  because basically the fractional reserve banking was an abuse by the goldsmiths,
[01:33:46.560 --> 01:33:55.560]  where the goldsmiths had a service not only of goldsmithing or silversmithing, but of being a storage facility.
[01:33:55.560 --> 01:34:00.560]  So people could buy silver and gold and then store it with them,
[01:34:00.560 --> 01:34:06.560]  and they would get a paper receipt saying, okay, you have X amount of silver or gold with us,
[01:34:06.560 --> 01:34:11.560]  and then people could take that paper receipt and go trade with it as if it was gold or silver in the marketplace,
[01:34:11.560 --> 01:34:14.560]  and then whoever ended up the receipt could go redeem it.
[01:34:14.560 --> 01:34:22.560]  And then, of course, the goldsmiths started abusing that and handing out more receipts than what gold and silver they actually had.
[01:34:22.560 --> 01:34:25.560]  And so, yes, of course, that was the beginnings of fractional reserve banking.
[01:34:25.560 --> 01:34:30.560]  And I was talking to Randy on the break about what he's proposing.
[01:34:30.560 --> 01:34:34.560]  Let's say, for example, and it doesn't even necessarily have to be capital coin and bullion.
[01:34:34.560 --> 01:34:36.560]  It can be any silver or gold dealer.
[01:34:36.560 --> 01:34:43.560]  Let's say, for example, okay, say, for example, one day silver is the purchasing, you know,
[01:34:43.560 --> 01:34:47.560]  it takes 10 Federal Reserve notes to buy an ounce of silver.
[01:34:47.560 --> 01:34:49.560]  Let's just use that as a starting place.
[01:34:49.560 --> 01:34:54.560]  So Randy walks in there with $100,000, 100,000 Federal Reserve notes, I mean.
[01:34:54.560 --> 01:34:57.560]  And wants to buy silver with it.
[01:34:57.560 --> 01:35:00.560]  And let's just say, okay, so they say, fine.
[01:35:00.560 --> 01:35:09.560]  You now have 10,000 ounces of silver with us, you know, in your quote, unquote, account.
[01:35:09.560 --> 01:35:12.560]  And keep that on the tick mark on their little book.
[01:35:12.560 --> 01:35:14.560]  And they give Randy a receipt.
[01:35:14.560 --> 01:35:17.560]  You have a credit of 10,000 ounces of silver with us.
[01:35:17.560 --> 01:35:19.560]  Okay, great.
[01:35:19.560 --> 01:35:26.560]  Well, what happens when five years down the line or maybe even, who knows, a month down the line,
[01:35:26.560 --> 01:35:30.560]  silver shoots up to 100 bucks an ounce, okay?
[01:35:30.560 --> 01:35:36.560]  Now Randy goes back in there and says, okay, I want my 10,000 ounces of silver now.
[01:35:36.560 --> 01:35:38.560]  Thank you very much, please.
[01:35:38.560 --> 01:35:44.560]  And, well, see, the thing is, if they're not going to be set up to actually purchase the silver
[01:35:44.560 --> 01:35:51.560]  at the time that it was $10 an ounce, they have 100,000 Federal Reserve notes of Randy's money,
[01:35:51.560 --> 01:35:54.560]  what are they going to do, just sit on this paper currency that's going to devalue?
[01:35:54.560 --> 01:35:57.560]  No, the coin dealership has to trade with it.
[01:35:57.560 --> 01:36:01.560]  They've got to buy and sell to do business, to make money,
[01:36:01.560 --> 01:36:05.560]  if they're not going to actually buy the silver and store it for Randy.
[01:36:05.560 --> 01:36:07.560]  Okay, so they've got the 100,000 Federal Reserve notes.
[01:36:07.560 --> 01:36:10.560]  They're buying, they're selling, they're buying, they're selling, they're trading.
[01:36:10.560 --> 01:36:14.560]  They make their little spread per ounce, whatever it is, all right?
[01:36:14.560 --> 01:36:19.560]  Well, then, you know, Randy walks in one day when it's $100 an ounce,
[01:36:19.560 --> 01:36:21.560]  100 Federal Reserve notes for an ounce.
[01:36:21.560 --> 01:36:29.560]  Well, now it's not going to cost the dealership 10,000 Federal Reserve notes
[01:36:29.560 --> 01:36:33.560]  to get this 10,000 ounces of silver for Randy.
[01:36:33.560 --> 01:36:39.560]  It's going to cost them a million Federal Reserve notes to get that money for Randy.
[01:36:39.560 --> 01:36:42.560]  And so now, all of a sudden, there's a problem, okay,
[01:36:42.560 --> 01:36:44.560]  because now you just put them out of business, all right?
[01:36:44.560 --> 01:36:48.560]  So that's not going to fly. You see what I'm saying?
[01:36:48.560 --> 01:36:51.560]  Okay, let me address this.
[01:36:51.560 --> 01:36:57.560]  There once was a guy in the Bible who had three servants,
[01:36:57.560 --> 01:37:02.560]  and he was going to go traveling, and while he was gone,
[01:37:02.560 --> 01:37:06.560]  he gave one of the servants one talent.
[01:37:06.560 --> 01:37:12.560]  He gave another servant two talents, and he gave another servant five talents.
[01:37:12.560 --> 01:37:15.560]  He went away, and he came back.
[01:37:15.560 --> 01:37:18.560]  And the one who he gave five talents, he said,
[01:37:18.560 --> 01:37:22.560]  what did you do with the talents I put in your safekeeping?
[01:37:22.560 --> 01:37:27.560]  He said, well, I went to work, and I got busy, and I invested them,
[01:37:27.560 --> 01:37:32.560]  and I planted seeds, and I grew seeds, and I sold the product.
[01:37:32.560 --> 01:37:35.560]  Now I've got 10.
[01:37:35.560 --> 01:37:38.560]  He went to the one with two. He said, well, I went to work.
[01:37:38.560 --> 01:37:41.560]  I didn't do it for this guy, but I invested, and I worked with it,
[01:37:41.560 --> 01:37:43.560]  and now I've got four.
[01:37:43.560 --> 01:37:45.560]  He said, wonderful.
[01:37:45.560 --> 01:37:49.560]  And he went to the guy who had one. He said, well, they gave it to you.
[01:37:49.560 --> 01:37:53.560]  You gave it to me. I kept it safe. I buried it.
[01:37:53.560 --> 01:37:56.560]  I heard you were coming back. I went and dug it up.
[01:37:56.560 --> 01:37:59.560]  Here it is, safe and sound.
[01:37:59.560 --> 01:38:09.560]  And he said, take that talent away from him and give it to the man that's got 10.
[01:38:09.560 --> 01:38:12.560]  That was the prescription for banking.
[01:38:12.560 --> 01:38:15.560]  Right. Well, Randy, back in those days,
[01:38:15.560 --> 01:38:20.560]  there wasn't this extreme manipulation of a digital currency fiat system
[01:38:20.560 --> 01:38:26.560]  with paper and digital where they could fluctuate the purchasing power
[01:38:26.560 --> 01:38:30.560]  on a daily basis or a moment-by-moment basis.
[01:38:30.560 --> 01:38:35.560]  You know, silver wouldn't go from, say, for example, 10 Federal Reserve notes
[01:38:35.560 --> 01:38:38.560]  to 100 Federal Reserve notes in a matter of months or days.
[01:38:38.560 --> 01:38:41.560]  So, I mean, the scenario that you're talking about,
[01:38:41.560 --> 01:38:44.560]  it's just not the same type of scenario today.
[01:38:44.560 --> 01:38:47.560]  And I'm sorry. I was talking so fast. My math was wrong.
[01:38:47.560 --> 01:38:50.560]  When Randy would come back and want his 10,000 ounces of silver,
[01:38:50.560 --> 01:38:54.560]  instead of costing the coin dealership 100,000 Federal Reserve notes to get,
[01:38:54.560 --> 01:38:57.560]  it would cost them a million Federal Reserve notes to get it.
[01:38:57.560 --> 01:39:00.560]  And the coin dealership would lose 900,000 Federal Reserve notes.
[01:39:00.560 --> 01:39:02.560]  It would put them out of business.
[01:39:02.560 --> 01:39:06.560]  And so I'm just saying from that perspective, it's not practical.
[01:39:06.560 --> 01:39:10.560]  I don't think any coin dealership in the country would agree to anything like that.
[01:39:10.560 --> 01:39:16.560]  They would store it for you, perhaps, for whatever it cost at that particular time.
[01:39:16.560 --> 01:39:19.560]  But I don't think that they would say, oh, we're going to give you an account
[01:39:19.560 --> 01:39:23.560]  and just whenever you want to come back, we're going to give you this much.
[01:39:23.560 --> 01:39:25.560]  And yeah, I think Tony's right.
[01:39:25.560 --> 01:39:29.560]  That's what the beginnings of the Fractional Reserve Banking were.
[01:39:29.560 --> 01:39:34.560]  And so people, these goldsmiths would give out more than, you know,
[01:39:34.560 --> 01:39:36.560]  they would lie and just give out these papers.
[01:39:36.560 --> 01:39:41.560]  What you're saying is, is it is impossible to do business
[01:39:41.560 --> 01:39:43.560]  because somebody's a liar and a thief.
[01:39:43.560 --> 01:39:45.560]  No, that's not what I'm saying at all.
[01:39:45.560 --> 01:39:46.560]  Exactly what you're saying.
[01:39:46.560 --> 01:39:47.560]  No, I'm not.
[01:39:47.560 --> 01:39:48.560]  You're saying that over the next 3,000 years...
[01:39:48.560 --> 01:39:50.560]  I'm not saying that at all. I'm saying...
[01:39:50.560 --> 01:39:52.560]  You didn't have banking systems?
[01:39:52.560 --> 01:39:54.560]  I'm not saying that at all, Randy.
[01:39:54.560 --> 01:39:58.560]  What I'm saying is that if the purchasing power,
[01:39:58.560 --> 01:40:02.560]  if it takes 10 Federal Reserve notes to buy an ounce of silver today,
[01:40:02.560 --> 01:40:06.560]  in 5 years from now, it's going to be that much more.
[01:40:06.560 --> 01:40:11.560]  Nobody in the world is going to say you have that number of ounces on reserve with me.
[01:40:11.560 --> 01:40:13.560]  Okay, so what are you going to do?
[01:40:13.560 --> 01:40:14.560]  Because they'll lose.
[01:40:14.560 --> 01:40:15.560]  This doesn't make sense.
[01:40:15.560 --> 01:40:18.560]  You're going to take those 10 silver whatever's
[01:40:18.560 --> 01:40:22.560]  and turn them into something that will not change in value,
[01:40:22.560 --> 01:40:24.560]  go bury it in the ground somewhere.
[01:40:24.560 --> 01:40:25.560]  Oh, of course not.
[01:40:25.560 --> 01:40:29.560]  And then when the value of silver comes up and I want it back,
[01:40:29.560 --> 01:40:31.560]  you're going to go buy that other thing,
[01:40:31.560 --> 01:40:33.560]  you're going to dig that thing up out of the ground
[01:40:33.560 --> 01:40:35.560]  and try to buy the silver back with it.
[01:40:35.560 --> 01:40:36.560]  No, that doesn't make any sense.
[01:40:36.560 --> 01:40:38.560]  You would have already had the silver.
[01:40:38.560 --> 01:40:40.560]  The silver would have increased in value.
[01:40:40.560 --> 01:40:42.560]  No, that doesn't make any sense.
[01:40:42.560 --> 01:40:43.560]  That's not what I'm saying.
[01:40:43.560 --> 01:40:45.560]  This doesn't make sense.
[01:40:45.560 --> 01:40:48.560]  So wait, Tony, what were you going to say, Tony?
[01:40:48.560 --> 01:40:54.560]  Well, when he said he wasn't talking about paying them to store it for him,
[01:40:54.560 --> 01:40:57.560]  he was basically talking about paper gold,
[01:40:57.560 --> 01:41:01.560]  which even the guy who runs Cavalcord and Bullion will say,
[01:41:01.560 --> 01:41:05.560]  and his business is based on this, that you should own the physical.
[01:41:05.560 --> 01:41:08.560]  Also, what he's also talking about is...
[01:41:08.560 --> 01:41:15.560]  Okay, what you're saying is banking is economically impossible.
[01:41:15.560 --> 01:41:20.560]  How are you changing the whole nature of the banking system
[01:41:20.560 --> 01:41:23.560]  because somebody can lie and cheat?
[01:41:23.560 --> 01:41:24.560]  This does not make sense.
[01:41:24.560 --> 01:41:26.560]  I don't know what you're talking about, Randy.
[01:41:26.560 --> 01:41:28.560]  This is banking.
[01:41:28.560 --> 01:41:31.560]  Randy, you're not making any sense.
[01:41:31.560 --> 01:41:35.560]  Look, if somebody can take their gold and silver, they can buy grains,
[01:41:35.560 --> 01:41:40.560]  they can plant it, they can grow it, they can sell the produce and get an increase,
[01:41:40.560 --> 01:41:45.560]  they could buy material and make clothes out of it and sell it and make a profit.
[01:41:45.560 --> 01:41:48.560]  I mean, this has nothing to do...
[01:41:48.560 --> 01:41:53.560]  Your citation of the parable about burying in the ground doesn't make any sense at all.
[01:41:53.560 --> 01:41:59.560]  People could still have an increase and deal strictly in silver and gold as a currency.
[01:41:59.560 --> 01:42:01.560]  That's what I'm talking about.
[01:42:01.560 --> 01:42:05.560]  Okay, well, if you want to do that, go ahead.
[01:42:05.560 --> 01:42:07.560]  That's what the banks do.
[01:42:07.560 --> 01:42:09.560]  Okay, well, go ahead and do with it.
[01:42:09.560 --> 01:42:13.560]  Why don't you set it up, Randy?
[01:42:13.560 --> 01:42:16.560]  That is a facetious argument.
[01:42:16.560 --> 01:42:18.560]  No, I think it's a good idea. I think you should do it.
[01:42:18.560 --> 01:42:21.560]  I do and I'm trying to get somebody to...
[01:42:21.560 --> 01:42:25.560]  All they do is just change the ledger mark.
[01:42:25.560 --> 01:42:26.560]  Okay.
[01:42:26.560 --> 01:42:28.560]  Instead of putting the mark on the ledger,
[01:42:28.560 --> 01:42:32.560]  when I come to the bank and I give them value,
[01:42:32.560 --> 01:42:40.560]  before fiat currency, they came to the bank and gave them hard value.
[01:42:40.560 --> 01:42:45.560]  Well, Randy, the thing is what you're asking a coin dealer to do is not only deal in coins,
[01:42:45.560 --> 01:42:50.560]  but also go and do investing and do things like what I just mentioned,
[01:42:50.560 --> 01:42:56.560]  buy grain, plant it, sell it, the produce or buy material, make clothes, et cetera.
[01:42:56.560 --> 01:43:01.560]  You're asking people like Chad and Becky to also be investors with your money
[01:43:01.560 --> 01:43:03.560]  and maybe they don't have time to do that.
[01:43:03.560 --> 01:43:07.560]  Maybe their business is just buying and selling gold and silver.
[01:43:07.560 --> 01:43:09.560]  But it is a good idea.
[01:43:09.560 --> 01:43:12.560]  I just don't know that they're the ones to do it or any particular coin dealer.
[01:43:12.560 --> 01:43:14.560]  That's all I'm saying.
[01:43:14.560 --> 01:43:19.560]  What I'm offering to do is invest in their business,
[01:43:19.560 --> 01:43:24.560]  give them more capital to work with.
[01:43:24.560 --> 01:43:27.560]  That's what you do when you put your money in banks.
[01:43:27.560 --> 01:43:28.560]  Well, what do you think, Tony?
[01:43:28.560 --> 01:43:30.560]  We're about to go to break and then we've got to blaze through these calls
[01:43:30.560 --> 01:43:33.560]  because we got off on the money topic and we have other callers.
[01:43:33.560 --> 01:43:35.560]  Yeah, we'll run out of time.
[01:43:35.560 --> 01:43:37.560]  We've only got one segment.
[01:43:37.560 --> 01:43:39.560]  This has been fun, though.
[01:43:39.560 --> 01:43:41.560]  Yeah, we'll skip into it for now.
[01:43:41.560 --> 01:43:49.560]  Can you just comment on timeframes as it relates to federal lawsuits?
[01:43:49.560 --> 01:43:50.560]  Okay, okay.
[01:43:50.560 --> 01:43:51.560]  We've got 10 seconds.
[01:43:51.560 --> 01:43:54.560]  Suzanne, Jim, Doug, I'm sorry we got sidetracked on this.
[01:43:54.560 --> 01:43:56.560]  We don't get you to eat tonight.
[01:43:56.560 --> 01:43:57.560]  We will tomorrow.
[01:43:57.560 --> 01:44:00.560]  Randy Kelvin, David Stevens, we'll be right back.
[01:44:00.560 --> 01:44:03.560]  You feel tired when talking about important topics like money and politics?
[01:44:03.560 --> 01:44:04.560]  Sorry.
[01:44:04.560 --> 01:44:07.560]  Are you confused by words like the Constitution or the Federal Reserve?
[01:44:07.560 --> 01:44:08.560]  What?
[01:44:08.560 --> 01:44:12.560]  If so, you may be diagnosed with the deadliest disease known today, stupidity.
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[01:44:29.560 --> 01:44:30.560]  but there is hope.
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[01:45:56.560 --> 01:46:01.560]  or call toll-free, 866-LAW-EZ.
[01:46:01.560 --> 01:46:16.560]  Hello? Oh, man, you're jailed. You're busted, man. Oh, man, I'm broke, man.
[01:46:16.560 --> 01:46:31.560]  Some things in this world I will never understand. Some things I realize fully.
[01:46:31.560 --> 01:46:39.560]  Somebody's known a police, a policeman. Somebody's known a police, a bully.
[01:46:39.560 --> 01:46:48.560]  There's always a room at the top of the hill. I hear through the grapevine and it's lonely there too.
[01:46:48.560 --> 01:46:56.560]  They're wishing it was more than opposition to fail. They know that if they don't do it, somebody will.
[01:46:56.560 --> 01:47:05.560]  Some things in this world I will never understand. Some things I realize fully.
[01:47:05.560 --> 01:47:13.560]  Somebody's known a police, a policeman. Somebody's known a bully.
[01:47:13.560 --> 01:47:18.560]  I know they will. Yeah, they're going to put the bill.
[01:47:18.560 --> 01:47:24.560]  Because I don't see so much in justice still. I know they will.
[01:47:24.560 --> 01:47:28.560]  Okay, we are back. Randy Kelton, Deborah Stevens, Rule of Law Radio.
[01:47:28.560 --> 01:47:33.560]  And we're going to stop talking about the gold banking business.
[01:47:33.560 --> 01:47:38.560]  Okay. What other issue did you have, Tony?
[01:47:38.560 --> 01:47:42.560]  Well, you know, I probably should have just e-mailed you about that in the first place.
[01:47:42.560 --> 01:47:47.560]  But I apologize to all listeners. You have other callers, right?
[01:47:47.560 --> 01:47:49.560]  Yes.
[01:47:49.560 --> 01:47:54.560]  Okay. Well, nothing I have is urgent. So I'm just going to go ahead and get off and maybe call tomorrow.
[01:47:54.560 --> 01:47:57.560]  Okay. That'll work. Thank you, Tony.
[01:47:57.560 --> 01:48:02.560]  Okay. We're going to go to Jim in Texas. Hello, Jim.
[01:48:02.560 --> 01:48:05.560]  Hello. What do you have for us today?
[01:48:05.560 --> 01:48:12.560]  Well, a lot of corporations incorporate in Delaware, charter in Delaware,
[01:48:12.560 --> 01:48:16.560]  which for the state of Texas makes them a foreign corporation.
[01:48:16.560 --> 01:48:20.560]  Now, don't they have to register with the Secretary of State as a foreign corporation
[01:48:20.560 --> 01:48:22.560]  before they can do business in the state?
[01:48:22.560 --> 01:48:29.560]  Yes, unless they are licensed by the federal government to do business like the banks.
[01:48:29.560 --> 01:48:33.560]  Okay. The federal government has said they can do business anywhere they want to
[01:48:33.560 --> 01:48:35.560]  and they don't have to register with the state.
[01:48:35.560 --> 01:48:36.560]  Okay.
[01:48:36.560 --> 01:48:43.560]  But if they're not operating under a federal umbrella, then yeah, they would have to register with the state.
[01:48:43.560 --> 01:48:49.560]  Okay. Now, when they register with the state, don't they have to comply with the laws of the state?
[01:48:49.560 --> 01:48:52.560]  They have to comply with the laws of the state regardless.
[01:48:52.560 --> 01:48:53.560]  Okay.
[01:48:53.560 --> 01:48:56.560]  Even the federal operators are bound by state law.
[01:48:56.560 --> 01:48:58.560]  Okay. Then how are they?
[01:48:58.560 --> 01:48:59.560]  Wait a minute. Hold on.
[01:48:59.560 --> 01:49:06.560]  They're bound by state law so long as the state law is not preempted by the federal law.
[01:49:06.560 --> 01:49:13.560]  Okay. Then how are they getting around the Constitution where it says the maximum interest
[01:49:13.560 --> 01:49:24.560]  that can be charged without a contract is 5% and the maximum interest that can be charged with a contract is 10%?
[01:49:24.560 --> 01:49:29.560]  Okay. That presupposes a fact not in evidence.
[01:49:29.560 --> 01:49:40.560]  Who and under what circumstances, who are they and what is the specifics of the constitutional restriction?
[01:49:40.560 --> 01:49:51.560]  Okay. The constitutional restriction says that the maximum interest that can be charged with a contract is 10%.
[01:49:51.560 --> 01:49:53.560]  So that's any contract?
[01:49:53.560 --> 01:49:58.560]  That's what it says, any contract.
[01:49:58.560 --> 01:50:01.560]  Okay. What was the 5%?
[01:50:01.560 --> 01:50:08.560]  The maximum interest that can be charged without a contract is 5%.
[01:50:08.560 --> 01:50:16.560]  That is an interesting question. Now, you're talking Texas Constitution.
[01:50:16.560 --> 01:50:18.560]  Yes. Yes.
[01:50:18.560 --> 01:50:24.560]  So anything above the 10% or the 5% would essentially be usury?
[01:50:24.560 --> 01:50:27.560]  That's right.
[01:50:27.560 --> 01:50:31.560]  And there are no constitutional amendments suggesting that?
[01:50:31.560 --> 01:50:32.560]  No.
[01:50:32.560 --> 01:50:39.560]  That is interesting. I would definitely have to look at that.
[01:50:39.560 --> 01:50:48.560]  Okay. I'm curious how the mortgage companies and especially the credit card companies have been getting around that,
[01:50:48.560 --> 01:50:53.560]  although I know they are foreign corporations and a lot of them are chartered in Delaware
[01:50:53.560 --> 01:51:00.560]  because of the high interest rates that are allowed in Delaware.
[01:51:00.560 --> 01:51:08.560]  Yeah, but that's questionable. If they're doing business in Texas
[01:51:08.560 --> 01:51:13.560]  with an entity that is in Texas.
[01:51:13.560 --> 01:51:19.560]  They say I get a credit card and I'm in Texas and I don't leave Texas.
[01:51:19.560 --> 01:51:26.560]  I don't have to go to Delaware to get that credit card and I use that credit card in Texas.
[01:51:26.560 --> 01:51:40.560]  The fact that the company may have a corporate officer or may be registered in Delaware as a corporation,
[01:51:40.560 --> 01:51:50.560]  unless what they're doing is strictly federal, then they're operating in the state.
[01:51:50.560 --> 01:51:59.560]  Okay. Deborah, are you there? You may know more about the credit card issue.
[01:51:59.560 --> 01:52:10.560]  Are credit cards, the normal credit, if it's, say it's, what's the primary?
[01:52:10.560 --> 01:52:13.560]  I don't care credit cards anymore. I don't remember which one.
[01:52:13.560 --> 01:52:17.560]  What's in your wallet, credit card company?
[01:52:17.560 --> 01:52:23.560]  They are a federal company. Do they operate in the federal venue? Do they operate in the state?
[01:52:23.560 --> 01:52:29.560]  Well, if they're going to do business in the state, they have to be registered with the secretary of state.
[01:52:29.560 --> 01:52:36.560]  We had a judge in Utah throw Bank of America out of Utah a couple of years ago
[01:52:36.560 --> 01:52:39.560]  because they weren't registered to do business in Utah.
[01:52:39.560 --> 01:52:43.560]  And the feds two days later come back and said,
[01:52:43.560 --> 01:52:47.560]  they can do business anywhere they want to. They don't have to register with your state
[01:52:47.560 --> 01:52:50.560]  because they're operating under the federal venue.
[01:52:50.560 --> 01:52:53.560]  They're licensed by the federal government to do business,
[01:52:53.560 --> 01:52:57.560]  so they don't have to register with the individual states.
[01:52:57.560 --> 01:53:00.560]  That was mortgage companies.
[01:53:00.560 --> 01:53:07.560]  I would think that would probably also apply to national credit card companies
[01:53:07.560 --> 01:53:13.560]  if they are licensed under the federal government and not simply under the state.
[01:53:13.560 --> 01:53:19.560]  And this is an area of credit that I'm not as well versed in.
[01:53:19.560 --> 01:53:21.560]  Okay.
[01:53:21.560 --> 01:53:25.560]  Well, I mean, from what I've learned from the Mike Mears method,
[01:53:25.560 --> 01:53:28.560]  it comes down to the state level.
[01:53:28.560 --> 01:53:35.560]  That's my understanding of what's going on, especially when it, if they try to contact you, you know,
[01:53:35.560 --> 01:53:42.560]  because a lot of times the creditors, the original creditors will call you by phone and things like that.
[01:53:42.560 --> 01:53:50.560]  Yeah, but they very specifically violate state laws that are not preempted by federal laws.
[01:53:50.560 --> 01:53:56.560]  But is the credit card company doing business in the state
[01:53:56.560 --> 01:54:01.560]  or is the credit card company doing business in the federal?
[01:54:01.560 --> 01:54:07.560]  I would think the federal because I can take a credit card from Texas and go to Oklahoma
[01:54:07.560 --> 01:54:16.560]  and the credit card is still just as accepted and valid in Oklahoma as it is in Texas.
[01:54:16.560 --> 01:54:24.560]  But they're also doing business in the state because you are a resident of a certain state
[01:54:24.560 --> 01:54:28.560]  and they send you bills to that address in that state
[01:54:28.560 --> 01:54:31.560]  and you send them a check from that state.
[01:54:31.560 --> 01:54:34.560]  It's not just strictly, you know.
[01:54:34.560 --> 01:54:38.560]  This gets into a problem we've been having with the Fifth Circuit.
[01:54:38.560 --> 01:54:46.560]  Sometimes the Fifth Circuit recognizes minimum contacts with the state under international shoe
[01:54:46.560 --> 01:54:48.560]  and sometimes they do not.
[01:54:48.560 --> 01:55:00.560]  And the Fifth Circuit has been more leaning toward not accepting the minimum contacts doctrine,
[01:55:00.560 --> 01:55:07.560]  saying that if you advertise in the state and you seek business in the state,
[01:55:07.560 --> 01:55:10.560]  if you send salesmen to the state,
[01:55:10.560 --> 01:55:17.560]  then you have minimum contacts with the state sufficient to establish state jurisdiction.
[01:55:17.560 --> 01:55:22.560]  Well then there you go because all of these credit card companies,
[01:55:22.560 --> 01:55:30.560]  they advertise in the states whether it's in the phone book or whether it's direct mail advertising
[01:55:30.560 --> 01:55:35.560]  or whether it's on the radio or the TV, they advertise.
[01:55:35.560 --> 01:55:40.560]  The problem is that's the international shoe minimum contacts doctrine
[01:55:40.560 --> 01:55:49.560]  and the Fifth Circuit doesn't follow the minimum contacts doctrine all of the time.
[01:55:49.560 --> 01:55:52.560]  Sometimes they do but mostly they do not.
[01:55:52.560 --> 01:55:57.560]  In foreclosure issues as concerns mortgage companies, they do not.
[01:55:57.560 --> 01:56:04.560]  So generally, Texas is not a good place for minimum contacts.
[01:56:04.560 --> 01:56:09.560]  So without researching that issue specifically, I wouldn't know how to address it.
[01:56:09.560 --> 01:56:14.560]  Well see, I mean the cases that I've seen, that just has never been an issue,
[01:56:14.560 --> 01:56:20.560]  especially because mainly the whole point is like with the might nearest method
[01:56:20.560 --> 01:56:24.560]  in a clean up your credit report, you go after the original creditor
[01:56:24.560 --> 01:56:28.560]  strictly under Fair Credit Reporting Act, okay,
[01:56:28.560 --> 01:56:33.560]  and then you go after the debt collector under the Debt Collections Practices Act
[01:56:33.560 --> 01:56:37.560]  and sometimes the Federal Fair Credit Reporting Act, both.
[01:56:37.560 --> 01:56:40.560]  And in order for them to act as a debt collector,
[01:56:40.560 --> 01:56:44.560]  in order for a debt collector to do business as a debt collector in a state,
[01:56:44.560 --> 01:56:47.560]  I know for sure in the state of Texas they have to be registered.
[01:56:47.560 --> 01:56:50.560]  It's right there on the Texas Secretary of State website.
[01:56:50.560 --> 01:56:55.560]  Cannot do debt collection in this state, in Texas,
[01:56:55.560 --> 01:56:58.560]  unless you're registered with the Texas Secretary of State.
[01:56:58.560 --> 01:57:03.560]  And so that to me would imply that if you're an original creditor
[01:57:03.560 --> 01:57:07.560]  and you intend to engage in debt collections activities
[01:57:07.560 --> 01:57:11.560]  of an account that the creditor continues to own
[01:57:11.560 --> 01:57:14.560]  and doesn't sell off to a debt collector,
[01:57:14.560 --> 01:57:17.560]  then the original creditor is going to have to register with the SOS too.
[01:57:17.560 --> 01:57:22.560]  Okay, that's a hard question because the creditor is not a debt collector.
[01:57:22.560 --> 01:57:26.560]  Well, the creditor can engage in debt collection activity
[01:57:26.560 --> 01:57:30.560]  if the creditor calls you or sends you any letters,
[01:57:30.560 --> 01:57:33.560]  any attempt to collect a debt whatsoever.
[01:57:33.560 --> 01:57:38.560]  They are engaging in debt collection activities, period.
[01:57:38.560 --> 01:57:42.560]  The problem with that is when they're engaging in debt collection activities,
[01:57:42.560 --> 01:57:45.560]  they're not engaging in lending activities.
[01:57:45.560 --> 01:57:50.560]  And it's the lending activities that would go to that 5% and 10%.
[01:57:50.560 --> 01:57:54.560]  Jim, you have certainly given me some research to do.
[01:57:54.560 --> 01:57:58.560]  Okay, one other comment real quick.
[01:57:58.560 --> 01:58:01.560]  You've got 50 seconds. Go ahead.
[01:58:01.560 --> 01:58:04.560]  Whenever you make a deposit in a bank,
[01:58:04.560 --> 01:58:08.560]  it becomes the property of the bank.
[01:58:08.560 --> 01:58:11.560]  Yes, it does. We are out of time.
[01:58:11.560 --> 01:58:15.560]  You call in tomorrow night. I'd like to talk to you a little bit on the air.
[01:58:15.560 --> 01:58:17.560]  Okay. Have a good evening.
[01:58:17.560 --> 01:58:18.560]  Thank you, Jim.
[01:58:18.560 --> 01:58:19.560]  You're welcome.
[01:58:19.560 --> 01:58:21.560]  This is Randy Kelton, Beverly Stevens.
[01:58:21.560 --> 01:58:24.560]  We love radio. We will be back tomorrow night
[01:58:24.560 --> 01:58:29.560]  with our four-hour info marathon. Rosanne, I'm sorry we didn't get to you tonight.
[01:58:29.560 --> 01:58:33.560]  If you'll call back tomorrow, we will take you at the top.
[01:58:33.560 --> 01:58:35.560]  We will be back.
[01:58:35.560 --> 01:58:40.560]  Deborah and Eddie will be back Monday with their traffic show.
[01:58:40.560 --> 01:58:42.560]  So tune us in. Listen.
[01:58:42.560 --> 01:58:45.560]  We archive everything. All our archives are free.
[01:58:45.560 --> 01:58:50.560]  So if you miss something, you can pull it down from our website to listen.
[01:58:50.560 --> 01:58:55.560]  Bibles for America is offering absolutely free a unique study Bible
[01:58:55.560 --> 01:58:58.560]  called the New Testament Recovery Version.
[01:58:58.560 --> 01:59:01.560]  The New Testament Recovery Version has over 9,000 footnotes
[01:59:01.560 --> 01:59:04.560]  that explain what the Bible says verse by verse,
[01:59:04.560 --> 01:59:08.560]  helping you to know God and to know the meaning of life.
[01:59:08.560 --> 01:59:11.560]  Order your free copy today from Bibles for America.
[01:59:11.560 --> 01:59:20.560]  Call us toll free at 888-551-0102 or visit us online at bfa.org.
[01:59:20.560 --> 01:59:25.560]  This translation is highly accurate and it comes with over 13,000 cross references,
[01:59:25.560 --> 01:59:29.560]  plus charts and maps and an outline for every book of the Bible.
[01:59:29.560 --> 01:59:32.560]  This is truly a Bible you can understand.
[01:59:32.560 --> 01:59:35.560]  To get your free copy of the New Testament Recovery Version,
[01:59:35.560 --> 01:59:40.560]  call us toll free at 888-551-0102.
[01:59:40.560 --> 01:59:49.560]  That's 888-551-0102 or visit us online at bfa.org.
[01:59:49.560 --> 02:00:11.560]  You're listening to the Logos Radio Network at logosradionetwork.com.