ROL_2009-12-04_16k_Hr3-4.timecode

[00:00.000 --> 00:11.680]  The Ugandan Parliament is considering an anti-homosexuality bill under which any person, quote, convicted
[00:11.680 --> 00:14.680]  of gay sex is liable to life imprisonment.
[00:14.680 --> 00:20.480]  If that person is HIV positive or has sex with a minor or a person with a disability,
[00:20.480 --> 00:22.320]  he or she could face the death penalty.
[00:22.320 --> 00:28.560]  The Swedish government says it would cut aid to Uganda over an anti-gay law it finds appalling.
[00:28.560 --> 00:34.760]  Renewal of two controversial Patriot Act provisions set to expire at the end of the year appear
[00:34.760 --> 00:37.040]  headed for floor votes in both bodies.
[00:37.040 --> 00:41.640]  The so-called records rule grants federal officials with a court order the power to
[00:41.640 --> 00:47.760]  force businesses, hospitals, and libraries to hand over any tangible thing they believe
[00:47.760 --> 00:50.880]  has relevance to a terrorist investigation.
[00:50.880 --> 00:55.920]  Roving wiretaps allow wiretapping without informing foreign intelligence surveillance
[00:55.920 --> 01:00.880]  at courts which phone lines or communications media are being targeted.
[01:00.880 --> 01:07.980]  Walmart, the world's largest retailer, has agreed to pay $40 million to 87,000 current
[01:07.980 --> 01:10.160]  and former employees in Massachusetts.
[01:10.160 --> 01:16.600]  The class action lawsuit accused the retailer of denying workers rest and meal breaks, refusing
[01:16.600 --> 01:24.480]  to pay overtime, and manipulating time cards to lower employees' pay.
[01:24.480 --> 01:30.800]  An unpublished UN report claims a U.S. company's purchase of minerals looted from eastern Congo
[01:30.800 --> 01:36.560]  is helping to finance a decade-long war that has claimed the lives of millions of civilians.
[01:36.560 --> 01:42.240]  Neotan is the first U.S. company to be identified as a buyer of conflict materials from the
[01:42.240 --> 01:44.640]  Democratic Republic of Congo.
[01:44.640 --> 01:49.720]  The illegal trade of the region's vast mineral resources, including gold, has kept the war
[01:49.720 --> 01:54.320]  going by enriching both rebels and Congolese army units.
[01:54.320 --> 01:59.600]  Many of the rare minerals are needed to make mobile phones and other electronic devices.
[01:59.600 --> 02:05.320]  Also benefiting from the looted minerals are businessmen in Uganda, Rwanda, Burundi, and
[02:05.320 --> 02:11.160]  the United Arab Emirates, as well as weapon suppliers from Sudan and North Korea whose
[02:11.160 --> 02:16.600]  arms are purchased by rebels with the proceeds of mineral sales in violation of a UN arms
[02:16.600 --> 02:18.520]  embargo.
[02:18.520 --> 02:24.960]  Mobile phones and gold jewelry sold in the U.S. have helped finance a war in which 200,000
[02:24.960 --> 02:27.560]  women have been raped.
[02:27.560 --> 02:32.800]  Federal Reserve Chairman Ben Bernanke, making his case for a second term, defended his record
[02:32.800 --> 02:38.360]  Thursday before a skeptical Senate that criticized the central bank for failing to prevent the
[02:38.360 --> 02:40.200]  financial crisis.
[02:40.200 --> 02:46.360]  Senator Jim Bunning told Bernanke, �From monetary policy to regulation, consumer protection,
[02:46.360 --> 02:51.560]  transparency, and independence, your time as Fed Chairman has been a failure.� Even
[02:51.560 --> 02:57.240]  if confirmed, Bernanke faces the prospect of running a diminished institution if some
[02:57.240 --> 03:02.160]  of the Congressional proposals to curtail the Fed's powers become law.
[03:02.160 --> 03:27.880]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com, live free speech
[03:27.880 --> 03:46.880]  at ruleoflawradio.com, live free speech at ruleoflawradio.com, live free speech at ruleoflawradio.com,
[03:46.880 --> 04:02.320]  live free speech at ruleoflawradio.com, live free speech at ruleoflawradio.com, live free
[04:02.320 --> 04:05.320]  speech at ruleoflawradio.com.
[04:05.320 --> 04:10.320]  Well, I was good for the gander, gonna work for Goose
[04:12.320 --> 04:18.320]  I know some architects, I know some engineers
[04:19.320 --> 04:25.320]  They see the evidence, they know something seems queer
[04:26.320 --> 04:32.320]  What's up with the blatant deception? What is the nature of what you might gain?
[04:32.320 --> 04:39.320]  I see something headed straight for you, I think it looks just like a train
[04:40.320 --> 04:47.320]  It sounds like a sham of thunder, I can see them playing fast and loose
[04:47.320 --> 05:02.320]  Well, I was good for the gander, gonna work for Goose
[05:17.320 --> 05:31.320]  I was looking for a level to play a field, so I could perfect my best game
[05:31.320 --> 05:46.320]  The truth becomes just like a shield
[06:01.320 --> 06:07.320]  What's going to happen? What's happening? What can we expect as a result from this?
[06:08.320 --> 06:12.320]  Well, let me start with this, what a tangled web we weave
[06:13.320 --> 06:19.320]  The things going on in Dubai are just a little microcosm, a snapshot if you will
[06:20.320 --> 06:27.320]  Of what's going on with real estate and bonds backing real estate across the entire planet
[06:27.320 --> 06:39.320]  Whether it's Australia or it's the European Union or it's the developed industrial zones of Asia or the United States
[06:40.320 --> 06:47.320]  Everywhere you look, there was overdevelopment on every kind in real estate
[06:48.320 --> 06:51.320]  In the short one, it was really cool, don't you remember all the jobs?
[06:51.320 --> 06:59.320]  All the TV shows of flip this house and flip this, flip that, maybe they should all get flipped off, I don't know
[07:00.320 --> 07:08.320]  But there was such a culmination of giddiness that nobody really felt that it could ever end
[07:09.320 --> 07:14.320]  And folks we need to learn from the past or we're doomed to make the same mistakes
[07:14.320 --> 07:26.320]  When you see everybody and their brother talking positively about one asset class, you don't necessarily want to be there anymore
[07:27.320 --> 07:32.320]  You're very deep-pocketed, extremely sophisticated and very up on things
[07:33.320 --> 07:36.320]  You might be able to discern when a good exit point would be
[07:37.320 --> 07:41.320]  But for the vast amount of people in this world, you can't pull that off
[07:41.320 --> 07:48.320]  You've got too many irons in the fire between family, work and other social obligations
[07:49.320 --> 07:55.320]  The real estate bubble that we're seeing explode and put bubble goo all over everything
[07:56.320 --> 08:03.320]  For me is just another vindication of my choice to run, not walk, from any and all paper assets
[08:03.320 --> 08:10.320]  Because the value of paper, regardless of its origin or regardless of the country behind it
[08:11.320 --> 08:16.320]  Now with Dubai is very, very seriously coming under scrutiny
[08:17.320 --> 08:21.320]  The fallout from this is going to be for quite some time
[08:22.320 --> 08:28.320]  The overall dollar amounts we're talking about are huge to any one of us
[08:28.320 --> 08:39.320]  When we consider how much Dubai cost when that bubble blew up compared to one 30-day period of deficit spending in the United States
[08:40.320 --> 08:44.320]  We could buy 1.75 Dublis every month
[08:45.320 --> 08:50.320]  But if anybody had a chance to go on the break and look at Dubai images
[08:51.320 --> 08:55.320]  I'm looking at them right now, they are absolutely outrageous
[08:55.320 --> 09:00.320]  I have never seen anything like this in my life
[09:01.320 --> 09:04.320]  This is like futuristic science fiction
[09:05.320 --> 09:08.320]  It's the most outrageous architecture I've ever seen in my life
[09:09.320 --> 09:10.320]  And you're right, it hardly looks real
[09:11.320 --> 09:12.320]  It's breathtaking
[09:13.320 --> 09:14.320]  Now here's my question
[09:14.320 --> 09:25.320]  When I was going off on that whole rant of politicians and where some of these things begin at their crux
[09:26.320 --> 09:34.320]  I did it on purpose because I really wanted to do it briefly and then very quickly realized I don't have a prayer of doing it briefly
[09:35.320 --> 09:40.320]  But I had to set the table for the things that we were going to talk about now and for the rest of the show
[09:40.320 --> 09:49.320]  Because if you take a look at the unbelievable opulence of the development in Dubai
[09:50.320 --> 09:53.320]  The at-risk number is like $100 billion
[09:54.320 --> 10:03.320]  If you include all the bonds, and just like in our country, we have like London banks deeply involved in this
[10:03.320 --> 10:12.320]  And they sold bonds to investors to raise the money to give to the developers who were going to build palaces to the sky
[10:13.320 --> 10:24.320]  That people from around the globe would clamor for, sell everything and rush off to this little tinder hotbox full of scorpions and sand in the middle of nothing
[10:25.320 --> 10:30.320]  Now, what we do in this country every month in deficit waste
[10:30.320 --> 10:40.320]  We could build a Dubai every three weeks, actually like every two weeks in a day
[10:41.320 --> 10:46.320]  That's how much money we could afford to be spending on redeveloping
[10:47.320 --> 10:51.320]  $700 billion bailout bond, right?
[10:52.320 --> 10:56.320]  Wouldn't that be at least two bought and paid for Dubois?
[10:56.320 --> 10:59.320]  Has anybody looked at Detroit, Michigan lately?
[11:00.320 --> 11:05.320]  The outskirts of Los Angeles, the outskirts of Chicago
[11:06.320 --> 11:12.320]  Look around the country, and here, don't look around the country, you're online
[11:13.320 --> 11:16.320]  Google Images, Tent City
[11:17.320 --> 11:24.320]  We're spending and throwing away hundreds of billions of dollars every month
[11:24.320 --> 11:28.320]  What do we get? Nothing
[11:29.320 --> 11:33.320]  We don't get palaces, we get squalor
[11:34.320 --> 11:37.320]  We don't get representatives, we get perfumed princes
[11:38.320 --> 11:41.320]  We don't get solutions, we get heartache
[11:42.320 --> 11:48.320]  In the tangled web we weave, oh my goodness, the whole top is about to blow off of this thing
[11:48.320 --> 11:54.320]  The last time I was on the show I said, when it starts getting really, really bad
[11:55.320 --> 12:00.320]  When the population starts waking up, when the numbers are too big to hide anymore
[12:01.320 --> 12:04.320]  Somebody's going to need to come up with a cover story
[12:05.320 --> 12:13.320]  How do I detract the electorate from the greatest financial crime since man walked upright?
[12:13.320 --> 12:19.320]  We're going to need something really big and really scary and really weird
[12:20.320 --> 12:22.320]  Because nothing else will suffice
[12:23.320 --> 12:26.320]  The bonds that are attached to Dubois are blowing up
[12:27.320 --> 12:31.320]  People are losing more money because of leverage, more crimes and fraud are being uncovered
[12:32.320 --> 12:34.320]  But the thing is, if any one of us does something wrong
[12:35.320 --> 12:38.320]  And let's just say I didn't account for something properly
[12:38.320 --> 12:42.320]  I'm going to have all sorts of people on me
[12:43.320 --> 12:46.320]  These folks that are behind $100 billion scams and rip-offs
[12:47.320 --> 12:51.320]  Nobody's investigating them, nothing will ever happen to them
[12:52.320 --> 12:57.320]  What, they throw a Bernie Madoff into the mix every once in a while? So what?
[12:58.320 --> 13:03.320]  They can't even tell the story straight, they say it was $50 billion, it was over $100 billion
[13:03.320 --> 13:07.320]  That money didn't just vaporize and disappear, it's out there
[13:08.320 --> 13:10.320]  You ready for the biggest outrage of the week?
[13:11.320 --> 13:21.320]  There was a man elected to be the executor, I think it's executor, of the trust from the impounded Madoff assets
[13:22.320 --> 13:30.320]  Guess what this piece of human debris billed for his work and services for five months dealing with the Madoff scam?
[13:30.320 --> 13:32.320]  Just throw me a number Dev
[13:33.320 --> 13:36.320]  What did he make in five months?
[13:37.320 --> 13:39.320]  Oh gosh, I can't remember
[13:40.320 --> 13:42.320]  $22 million
[13:43.320 --> 13:44.320]  Wow
[13:45.320 --> 13:49.320]  I'd love to get paid $22 million for ensuring nobody ever gets anything
[13:50.320 --> 13:56.320]  I'd love that kind of a job, where do you sign up for that? I never saw that and I help wanted ads
[13:56.320 --> 14:01.320]  Wanted, way overpriced perfumed prints
[14:02.320 --> 14:04.320]  $22 million
[14:07.320 --> 14:15.320]  These people that need their money that got ripped off from their scam, they're getting ripped off again by our own employees
[14:16.320 --> 14:20.320]  Who on earth said this guy could get $22 million?
[14:20.320 --> 14:29.320]  Don't you think there's a handful of families that are never going to see a penny because we had to pay one man just to kind of execute this whole process?
[14:30.320 --> 14:32.320]  That doesn't sound reasonable
[14:33.320 --> 14:35.320]  And that's just the tip of the iceberg
[14:36.320 --> 14:43.320]  When we come back from the next break with the stuff I really want to get into is what's happening with confidence?
[14:43.320 --> 14:53.320]  Because confidence in this global environment is absolutely the biggest story of the century
[14:54.320 --> 14:57.320]  Because what comes next is going to freak everybody out to their core
[14:58.320 --> 15:04.320]  Because as confidence erodes, people ask questions, people get angry and they stop taking
[15:05.320 --> 15:10.320]  Well, this is over your head or you don't need to know or let's just move on
[15:10.320 --> 15:12.320]  And they don't take that anymore
[15:13.320 --> 15:18.320]  They want information, they want to know what happened and they want to know why are they hurting so bad?
[15:19.320 --> 15:23.320]  Why did I do all the right things and I'm getting all the wrong results?
[15:24.320 --> 15:36.320]  The amount of stuff that is going on in the currency markets, the bond markets and the precious metals markets should keep this talk going well to the end of the program tonight
[15:36.320 --> 15:45.320]  Because there's a handful of little stories brewing behind the surface that I honestly, folks, I don't think most of you are going to believe it
[15:46.320 --> 15:57.320]  If any of some of the stuff I'm going to bring up for the rest of tonight proves true, then anybody who's not dealing in paper is going to be a really, really happy camp
[15:57.320 --> 16:04.320]  Well, that's good news, that is good news
[16:05.320 --> 16:15.320]  Yeah, a lot of our listeners are very savvy to this kind of thing already and have been working steady on getting out of paper and accumulating assets like the metals and such
[16:16.320 --> 16:24.320]  Well, the amount of metals that are being put around right now is really, really fascinating
[16:24.320 --> 16:34.320]  I think the most fascinating part to it is, I don't even know how to segue into this, the beginning of an economic war
[16:35.320 --> 16:42.320]  Wow, wow, okay, well we'll continue on that when we get back
[16:43.320 --> 16:51.320]  We're here with Steve, the financial analyst, and callers are probably not going to take calls for at least another hour
[16:51.320 --> 16:56.320]  We may give the whole rest of the show to Steve because this is just too much material that we're going to have to cover
[16:57.320 --> 16:59.320]  We'll be right back
[17:00.320 --> 17:05.320]  Hello Austin, my name is Harlan Deidre, owner of Brave New Books, a local independent bookstore here in town
[17:06.320 --> 17:09.320]  Many of you are familiar with the bookstore and have attended some of our events
[17:10.320 --> 17:18.320]  We've been proud to host speakers like Alex Jones, Ron Paul, Jim Mars, Catherine Albert, Wester Carpley, G. Edward Griffin, and many other heroic figures in the patriot movement
[17:18.320 --> 17:20.320]  But now Brave New Books needs your help
[17:21.320 --> 17:29.320]  In order to continue to provide a space for these events and be an outlet for hard to find materials, we're going to need you Austin to help spread the word about the bookstore
[17:30.320 --> 17:33.320]  Please tell your friends and family about the wide variety of materials we offer
[17:34.320 --> 17:37.320]  We also have DVD duplication capabilities for all you activists
[17:38.320 --> 17:41.320]  Also, if you haven't visited us yet, please come down and show your support
[17:42.320 --> 17:46.320]  It is so easy to support the big corporate chain stores that do nothing to further our message
[17:46.320 --> 17:48.320]  Remember, you vote with your dollars
[17:49.320 --> 17:50.320]  We're counting on you Austin
[17:51.320 --> 17:57.320]  If you need any information, please call 512-480-2503 or visit us at 1904 Guadalupe Street
[17:58.320 --> 17:59.320]  Thank you everyone
[17:59.320 --> 18:18.320]  Music
[18:29.320 --> 18:41.320]  Music
[18:59.320 --> 19:21.320]  Music
[19:22.320 --> 19:24.320]  Okay, we are back and folks listen
[19:24.320 --> 19:32.320]  Steve's on a roll, but I got to tell y'all, I'm looking at these pictures of Dubai and I'm falling out of my chair
[19:33.320 --> 19:38.320]  I mean, it's the architecture, it's just absolutely mind blowing
[19:39.320 --> 19:42.320]  This one building that I will be very fast about this too
[19:42.320 --> 19:53.320]  This one group of buildings that I'm looking at are skyscrapers over a quarter of a mile tall and they are curvy and spirally
[19:54.320 --> 19:57.320]  And they, you know, fade up to a pinnacle at the top
[19:58.320 --> 20:04.320]  I mean, people, this isn't a skyscraper that just like goes straight up like we traditionally see
[20:05.320 --> 20:10.320]  It's like they curve to the one side and then they go back and then they go back and forth and spiral
[20:10.320 --> 20:15.320]  And it looks like something out of a science fiction movie on an alien planet
[20:16.320 --> 20:18.320]  It is so outrageously beautiful
[20:19.320 --> 20:21.320]  I mean, I've never seen anything like this in my life, I can hardly believe it real
[20:22.320 --> 20:31.320]  And Steve, you're telling us we can have like one of these a month for the amount of money that these people are about to waste
[20:31.320 --> 20:40.320]  Well, I want to clarify that a little bit, now all of Dubai cost a whole boatload more than $100 billion
[20:41.320 --> 20:42.320]  Right, of course
[20:43.320 --> 20:48.320]  But a lot of that, and I'm not sure about these numbers yet because I haven't been able to find enough hard data
[20:49.320 --> 20:51.320]  A nice chunk of these were private finance
[20:52.320 --> 20:59.320]  So the numbers aren't going to show up like they would like in the United States where the real estate agents
[20:59.320 --> 21:07.320]  would kind of have an overall appraisal of what a neighborhood or a group or a town could be worth
[21:08.320 --> 21:09.320]  Okay
[21:10.320 --> 21:19.320]  When I say one a month, if we stopped buying stuff from foreign countries that we don't need that we could produce for ourselves
[21:19.320 --> 21:29.320]  The money that we're handing over every single month to these foreign nations, if we were spending it on ourselves
[21:30.320 --> 21:35.320]  We could be building stuff like that for us, and we'd be owning it
[21:36.320 --> 21:40.320]  Not in debt forever for it if we spent the same amount of money
[21:40.320 --> 21:48.320]  Unlike a lot of the bailouts and a lot of the freaky things that are going on, our nation is on the hook
[21:49.320 --> 22:01.320]  Through our government for over $21 trillion, backstopping and supporting all of Wall Street's losses
[22:01.320 --> 22:17.320]  Now think about this, Goldman Sachs, AIG, all these other too big to fails and super vulnerable people and corporations
[22:18.320 --> 22:29.320]  They got all this money because if they would have fallen down and taken the heat for their own negligence, malfeasance
[22:29.320 --> 22:39.320]  They would just fail, they would go into the free market waste bin to rot and decay, people would come up and scoop up the assets
[22:40.320 --> 22:47.320]  When they make money they get to keep it, when they lose money we get to pay for it
[22:48.320 --> 22:56.320]  I don't get any bonus, shouldn't I get a cut of that $30 billion, heck I'm one of the people who helped support the bailouts in the first place
[22:56.320 --> 23:06.320]  That if they didn't have the taxpayer funding and through the treasury the access to the capital, they couldn't have made that money
[23:07.320 --> 23:12.320]  So in essence without me they couldn't have made it, where's my bonus? I want a bonus, I want free money
[23:13.320 --> 23:17.320]  Not really, I'm being facetious, but there's truth to it
[23:17.320 --> 23:26.320]  One of my friends, every time he drives by a car dealer, I almost have trouble being in the same vehicle with him
[23:27.320 --> 23:31.320]  He'll look out on the parking lot and he says look there's my Corvette, look there's my new Camaro
[23:32.320 --> 23:37.320]  And the first time I heard him say this is what are you talking about and he's like you know how much money we bailed out to these car companies
[23:38.320 --> 23:44.320]  I have to pay for this, my taxes are going up, these lame asses in Washington are raising my taxes
[23:44.320 --> 23:53.320]  They're drooling on themselves hoping to get more money out of me to bail out a car company with my money and I don't even get the car
[23:54.320 --> 23:58.320]  What a great salient point
[23:59.320 --> 24:05.320]  So getting back to Dubai, this is just the tip of the iceberg folks
[24:05.320 --> 24:15.320]  If you want to look at any developed region of the United States, I've heard a handful of people, people I knew or know
[24:16.320 --> 24:25.320]  Saying that it looks like we're approaching the bottom of the real estate debacle, this is a great time to get back into what worked just a few short years ago
[24:26.320 --> 24:28.320]  And let's go nuts with it
[24:28.320 --> 24:34.320]  Folks, the bottom is nowhere to be seen
[24:35.320 --> 24:42.320]  Just like any other bubble, the amount of enthusiasm that went into it will have to be reflected on the flip side
[24:43.320 --> 24:49.320]  When you go to a luncheon, a family gathering, a social event of any kind
[24:49.320 --> 24:59.320]  And half the people are talking about real estate, until you hear half the people at the next function saying are you insane, you're doing what?
[25:00.320 --> 25:05.320]  You bought real estate, I know there was a million dollar house, but 200 grand, you paid that much?
[25:06.320 --> 25:08.320]  You're dumb
[25:09.320 --> 25:13.320]  Until we start hearing that, you're not even close folks
[25:13.320 --> 25:23.320]  And the other shoe dropping are the big jumbo loans, you know, for the million dollar plus McMansion
[25:24.320 --> 25:30.320]  For the residential semi-commercial building that gets put up
[25:31.320 --> 25:34.320]  In Chicago, one of the masterpieces is the new Trump Tower
[25:34.320 --> 25:43.320]  You know, frankly, if it wasn't for its location, it's just a different piece of glass, it's just a different looking rectangle
[25:44.320 --> 25:52.320]  You look at the Trump Tower in Chicago, go look that up on Google Images, and then you go look at any skyscraper in Dubai
[25:53.320 --> 25:56.320]  And tell me who doesn't have it going
[25:56.320 --> 26:05.320]  Now, the people that are in like Abu Dhabi, that's the rich cousin of the Emirates, okay?
[26:06.320 --> 26:15.320]  These guys are going to wind up going into Dubai and scooping up billion dollar office buildings for 100 million, 300 million dollars, if that
[26:16.320 --> 26:19.320]  And they're going to buy these palaces for pennies
[26:19.320 --> 26:29.320]  What they do with them at that point would be almost irrelevant because the scrap value of the metal going into World War III will greatly exceed the value they paid for
[26:30.320 --> 26:39.320]  And unfortunately, one of the things we all need to keep an eye on here, I mentioned this last time, and all I had to do was get it out of my mouth, and Randy tripped a breaker
[26:39.320 --> 26:52.320]  All of this economic stuff, these are the precursor elements of how an entire planet trips a breaker and goes to war
[26:53.320 --> 27:03.320]  In this time, this war is going to be one hell of a lot different than the last one. The last one, Europe was blown to smithereens
[27:03.320 --> 27:11.320]  Nobody could build or do anything because there wasn't anything that wasn't on fire or at the bottom of a bomb crater
[27:12.320 --> 27:20.320]  America being the fortress of America was untouched. All our factories, all our people, all our production, a-okay
[27:21.320 --> 27:27.320]  As a matter of fact, because of the amount of ramping up in production and factory utilization we had during World War II
[27:27.320 --> 27:35.320]  We had a workforce that man, nobody on this planet has ever seen before or yet since
[27:36.320 --> 27:40.320]  The only thing that could compare to it is what's going on in China today
[27:41.320 --> 27:48.320]  Similar to back then, today China has all the credit, we have all the debt
[27:48.320 --> 27:56.320]  China has all the factory workers, we have a lot of whiners over here right now, and I'm not saying everybody, but a lot of them
[27:57.320 --> 28:07.320]  China has all the carts, and there's that little saying, he who has the gold makes the rules, right?
[28:07.320 --> 28:17.320]  Oh my, how we have forgotten that. I hear one absolutely clueless jackass after another
[28:18.320 --> 28:24.320]  Who calls themselves an analyst, calls themselves a reporter, calls themselves, you know, come up with a title
[28:25.320 --> 28:32.320]  They keep saying gold's in a bubble. There's this guy on Kitco.com, his name is John Nadler
[28:32.320 --> 28:42.320]  I have been listening to this guy, the barbaric relic of gold and how silly people are, what a bubble it's in
[28:43.320 --> 28:48.320]  All the way from like 500 bucks. He's been cataclysmically wrong the entire time
[28:49.320 --> 28:56.320]  I don't mean to pick on him, but if you ever read his articles, go to Kitco.com, click usually on the first related articles link
[28:56.320 --> 29:03.320]  And his name's almost always on top. It's almost like he's getting paid. I can't prove it, and I don't mean to insinuate
[29:04.320 --> 29:10.320]  That the man's done anything wrong, but I just find it incredibly hard to believe how somebody could be that wrong that often
[29:11.320 --> 29:19.320]  And have anybody actually click on them. The amount of stuff going on in the gold market really reflects the future
[29:19.320 --> 29:25.320]  I've joked in the past about, sorry, Deb, I don't have a crystal ball, I can't tell you where that's going
[29:26.320 --> 29:34.320]  The closest thing that all of us share together is we do have a crystal ball in the markets, and I'd like to get into that after the break
[29:35.320 --> 29:39.320]  Absolutely. And I also want to hear more about the good news
[29:40.320 --> 29:46.320]  For people that are already in medals, I guess, is that correct?
[29:46.320 --> 29:49.320]  Well, if they are, you've got to admit, they've got to be smiling
[29:49.320 --> 30:16.320]  I know. Okay, we'll be right back
[30:19.320 --> 30:22.320]  If you don't have a lawyer, know what you should do for yourself
[30:23.320 --> 30:27.320]  Thousands have won with our step-by-step course, and now you can too
[30:28.320 --> 30:33.320]  Jurisdictionary was created by a licensed attorney with 22 years of case-winning experience
[30:34.320 --> 30:42.320]  Even if you're not in a lawsuit, you can learn what everyone should understand about the principles and practices that control our American courts
[30:42.320 --> 30:51.320]  You'll receive our audio classroom, video seminar, tutorials, forms for civil cases, pro se tactics, and much more
[30:51.320 --> 31:12.320]  Please visit ruleoflawradio.com and click on the banner or call toll-free, 866-LAW-EZ
[31:21.320 --> 31:37.320]  I won't, oh I won't, I won't let you pull the wool over my eyes
[31:37.320 --> 31:53.320]  We must refuse, your news also doesn't lie It seems you're like a fad, but please take some words to the wise
[31:53.320 --> 32:21.320]  Stop trying to pull the wool over my eyes
[32:23.320 --> 32:37.320]  An orange is an orange and will never be an apple
[32:38.320 --> 32:45.320]  These images are no fruit, it is no tough concept to grapple
[32:45.320 --> 32:53.320]  It's just too much to bear, I won't wear your evil shackles
[32:53.320 --> 33:16.320]  A bluebird is a bluebird and will never be the crackle
[33:16.320 --> 33:32.320]  Please stop this mess
[33:33.320 --> 33:39.320]  Can you say cover up? What's up? Get your gun
[33:39.320 --> 33:47.320]  Open your eyes further, don't help murder these soldiers so young
[33:48.320 --> 33:55.320]  To profit from criminals, that minimal must make you one
[33:56.320 --> 33:58.320]  Can you say cover up? What's up?
[33:58.320 --> 34:13.320]  Okay, we are back. Sorry for the longer break than usual, having some very interesting conversation and planning for our next upcoming segments, folks, so we're just organizing the show.
[34:14.320 --> 34:26.320]  Okay, so please, Steve, get back, you were talking about this Dubai thing and how much scrap metal and you were talking about China and preparing for war and stuff like this, so what's up with all that?
[34:26.320 --> 34:31.320]  Well, I briefly talked about this on the last time I was on your show.
[34:32.320 --> 34:38.320]  You know, in essence, nothing happens in the world without a plan.
[34:39.320 --> 34:52.320]  You know, people of like mind that might be listening to my tonight are really accustomed to this, of seeing weird things going on behind the scenes and knowing that there are people behind it who actually want to just take control.
[34:52.320 --> 35:05.320]  It's not that hard to believe, is it? There are megalomaniacs and the like out there who actually want to rule and control everything that they possibly can because that's how they find their own self-worth and value.
[35:05.320 --> 35:23.320]  If you don't believe in God, if you don't have a savior, if you don't have something to fall back on that's bigger than your present and your time here, well, I could kind of see how that could go into runaway mode for some of these folks, okay?
[35:23.320 --> 35:35.320]  All of the things economically that we're seeing right now, if we don't get a grip on them in a big hurry, we're going to see a mass distraction of that.
[35:36.320 --> 35:46.320]  And whether that's a miscalculation by a small country bordering on the Mediterranean, on who they might or might not attack,
[35:46.320 --> 36:03.320]  whether that's a miscalculation by our own security forces, whether it's a planned terrorist event, whether it's one country surprising another and just out and out attacking them, something's got to give here.
[36:03.320 --> 36:19.320]  And even if none of those things were to occur, okay, no war, no passion, no famine, no nonsense, okay, if we look at the mathematical rules and laws behind economics,
[36:20.320 --> 36:29.320]  there is no way we can escape the current vortex or black hole of problems and issues concerning money and the current system.
[36:29.320 --> 36:43.320]  We have. This is part of the analysis I did 9 and 12 months ago that made me say, wait a minute, I mean, I was getting geared up to start very seriously getting into the commercial paper market.
[36:44.320 --> 36:53.320]  I was looking for people to kind of join in with me and start buying up collateralized debt obligations and other commercial and residential mortgage bonds,
[36:53.320 --> 36:59.320]  because there was a brief period of time where a $1 bond was trading for five cents.
[37:00.320 --> 37:04.320]  And I really looked at this and said, you know, I smell an opportunity here.
[37:05.320 --> 37:11.320]  And just as I started to poke around on it, the light bulb in my head went off saying, I'm not investing anymore.
[37:12.320 --> 37:19.320]  I'm gambling. I'm not using rationality and thought process and logic.
[37:19.320 --> 37:25.320]  I'm using emotion. If I continue on this course, I'm going to be annihilated.
[37:26.320 --> 37:38.320]  So I took a deep breath and I thought to myself, well, if I were to leapfrog a step ahead, what would come after this next round of paper flipping?
[37:39.320 --> 37:46.320]  People are going to get scared. They're going to start losing confidence, which is something I need you guys to keep me on task with tonight,
[37:46.320 --> 37:50.320]  because confidence is the root of everything here.
[37:51.320 --> 38:01.320]  But as they lose confidence, they're going to start shaking their heads when they hear real estate, bonds, stocks, treasuries and the like.
[38:02.320 --> 38:10.320]  And this is what got me to say, you know, I could do this commercial paper thing, but very quickly I'm going to have a ridiculous amount of competition.
[38:10.320 --> 38:17.320]  A lot of these people have more contacts and deeper pockets than I do, which actually the vast majority does.
[38:18.320 --> 38:23.320]  So why do I want to play this game? What do I have to prove? Nothing.
[38:24.320 --> 38:31.320]  So I'm going to leapfrog ahead and go to where none of them are even looking yet, and I'm going to start selling off all my paper,
[38:32.320 --> 38:37.320]  and I'm going to start buying tangible physical assets, because at least I can put my hands on them.
[38:37.320 --> 38:42.320]  I know what they are, and no matter what anybody ever does, they have intrinsic value.
[38:43.320 --> 38:47.320]  A stock can actually go to zero when a company goes bankrupt.
[38:48.320 --> 38:53.320]  A bond can go to zero if the entity behind it were to default.
[38:54.320 --> 39:00.320]  In the last year, we saw criminal malfeasance on contract law.
[39:00.320 --> 39:06.320]  We have some real simple obligations of I'm a bondholder of a company.
[39:07.320 --> 39:14.320]  I'm supposed to be kind of like a de facto holder in due course, like a security agreement.
[39:15.320 --> 39:20.320]  I'm the most secure creditor. I'm the first in line should there be a default.
[39:21.320 --> 39:27.320]  And if you look at the automaking industry, we had defaults all over the place,
[39:27.320 --> 39:38.320]  and our current administration said, no, we're going to change the rules in the middle of the ninth inning,
[39:39.320 --> 39:46.320]  and we're now going to say that the unions get to have the secured creditor relationship and the bondholders be damned.
[39:47.320 --> 39:55.320]  The precedent for doing such a thing is just beyond anything I can still put my hands on.
[39:55.320 --> 40:04.320]  And when you have people who can change the laws to fit the political wind of the day, all confidence goes out the window.
[40:05.320 --> 40:14.320]  How does a business owner plan for anything or invest in anything or expand the manufacturing line, hire new employees?
[40:15.320 --> 40:19.320]  How about just go back to work the next day and not just write the whole place off and retire?
[40:19.320 --> 40:24.320]  How do you do these things when you can't even count on the laws on the books,
[40:25.320 --> 40:31.320]  when somebody can just change them arbitrarily and enforce it with thermonuclear warheads?
[40:32.320 --> 40:34.320]  You can't compete with that.
[40:35.320 --> 40:40.320]  Now, the precedent set by it is a loss of confidence, a big question mark.
[40:41.320 --> 40:46.320]  Well, I don't know any of you, but the business people that I know loathe uncertainty.
[40:46.320 --> 40:52.320]  They don't mind competition, they don't mind working 18 hours a day,
[40:53.320 --> 40:58.320]  but they have to know that there's a fair and even set of rules across the board,
[40:59.320 --> 41:04.320]  or it's impossible for even a mediocre businessman to make a plan,
[41:05.320 --> 41:10.320]  because if you don't know what's coming next and you don't know what the rules are, how do you even play the game?
[41:10.320 --> 41:19.320]  Now, the bulk of the people on this radio show listening tonight, you know something's wrong.
[41:20.320 --> 41:26.320]  You couldn't have listened to me babble for this long and still be here without knowing something in your gut is true,
[41:27.320 --> 41:33.320]  that something is very, very wrong here, and it's wrong on a level none of us have ever even imagined before.
[41:33.320 --> 41:39.320]  That is your firsthand glimpse of a loss of confidence.
[41:40.320 --> 41:46.320]  In the last couple months, we have seen an unbelievable rise in the value of the precious metals.
[41:47.320 --> 41:54.320]  The last time I was on, I was a little suspicious, actually a lot suspicious, of the position the metals market were in.
[41:54.320 --> 42:02.320]  I remember giving an example of, for myself, I like to physically buy precious metals.
[42:03.320 --> 42:10.320]  I will never, ever touch an exchange traded fund, an ETF,
[42:11.320 --> 42:19.320]  because frankly I don't see any value of buying something and having some other Wall Street person tell me what they want me to hear
[42:19.320 --> 42:24.320]  of how many ounces they have or their audit process or all this mumbo jumbo.
[42:25.320 --> 42:28.320]  Isn't the whole reason of buying gold so you can actually have it?
[42:29.320 --> 42:35.320]  So if something were to occur, your life insurance policy, you actually have a copy of it.
[42:36.320 --> 42:39.320]  It's not just held in a custodial relationship of some kind.
[42:40.320 --> 42:46.320]  Well, in the last couple months, I've seen some unfathomable stuff come off
[42:46.320 --> 42:50.320]  that I would have never dreamed of the last time I was on the show.
[42:51.320 --> 43:00.320]  One of the things I encourage your listeners that were to listen to me or to go look up for themselves is gold used for margin.
[43:01.320 --> 43:09.320]  You'd probably put, quote, gold margin, end quote, into a Google or whatever search engine of choice and hit enter.
[43:09.320 --> 43:18.320]  In the last couple months, some of these exchanges know that the people behind some of these big leverage bets
[43:19.320 --> 43:23.320]  and the derivative bets are starting to have some real questionable balance sheets.
[43:24.320 --> 43:31.320]  When we know rules can be changed arbitrarily, when we know values can be creatively massaged by any bank who just needs to be,
[43:31.320 --> 43:38.320]  all the values are up for grabs and wait, wait till we get into this one.
[43:39.320 --> 43:50.320]  Wow. Man, the outrageousness at these levels, it's kind of mind blowing really.
[43:51.320 --> 43:52.320]  Tip of the iceberg.
[43:52.320 --> 44:00.320]  Okay, we'll be right back.
[44:22.320 --> 44:27.320]  We'll be right back.
[44:52.320 --> 45:00.320]  So call 908-691-2608 or visit us at hempusa.org today.
[45:23.320 --> 45:28.320]  Oh, wait, I must be careful what I'm wishing for.
[45:29.320 --> 45:33.320]  When I'm hungry, I like to know just what I'm fishing for.
[45:34.320 --> 45:39.320]  I ain't asking for much, I ain't trying to be no glutton.
[45:40.320 --> 45:44.320]  I'm just here making my living pushing buttons.
[45:44.320 --> 45:51.320]  I give my message out to anyone in short and distance.
[45:52.320 --> 45:56.320]  Vote for bravery and against slavery to show resistance.
[45:57.320 --> 46:01.320]  First I'm crawling, then I'm walking, then I'm just strutting.
[46:02.320 --> 46:06.320]  I'm just so glad to make my living pushing buttons.
[46:07.320 --> 46:10.320]  Okay. All right, Steve, please continue.
[46:10.320 --> 46:25.320]  You were leading up into the break, you were starting to talk about the outrageousness going on at these levels and the questionable balance sheets and people not having confidence because the rules are changing.
[46:26.320 --> 46:38.320]  Well, one of the reasons why we're seeing the precious metals go off is because the world's largest nation or the world's most economically powerful nation is bankrupt.
[46:38.320 --> 46:48.320]  Its banks are bankrupt. Its institutions are bankrupt. Its manufacturing base has been eviscerated.
[46:49.320 --> 46:59.320]  Its people are misguided, are wandering lost like a ship without a direction or a compass.
[46:59.320 --> 47:17.320]  And smart money is starting to look toward the future and the markets have an incredible way of discounting the future because simultaneously all the participants around the planet make our reality.
[47:17.320 --> 47:28.320]  So when you see some very smart, very early people saying this is what's coming and they start putting their money where their mouth is, they actually create tomorrow's environment.
[47:29.320 --> 47:36.320]  Smart money for years has been saying, uh-uh, I'm going to do gold, I'm going to do silver.
[47:37.320 --> 47:44.320]  I hear all the time all sorts of people just beating the snot out of anybody who says gold and silver is a good thing.
[47:44.320 --> 47:53.320]  Well, this is a bubble and we have deflation and in deflation this won't ever happen and hyperinflation is impossible.
[47:54.320 --> 47:59.320]  Don't you know that we could never allow that to happen? You know that we could never allow that to happen?
[48:00.320 --> 48:06.320]  I heard the same crap with real estate. I heard the same crap with the NASDAQ. And these are only bubbles I've lived through.
[48:07.320 --> 48:11.320]  I've read about dozens of others and they all play the same way.
[48:11.320 --> 48:21.320]  The biggest difference I see in the precious metals market is like that one gentleman I described from Kitco who's constantly talking about what a joke this is.
[48:22.320 --> 48:28.320]  I think the one thing he seems to be leaving out is the fact that we're not even remotely in a bubble.
[48:29.320 --> 48:38.320]  If you look at the national debt, I mentioned this briefly earlier, we have $2 trillion in 2010 that we have to roll over.
[48:38.320 --> 48:45.320]  If we don't get the financing for that, the United States will shut off like a light switch.
[48:46.320 --> 48:55.320]  On top of the $2 trillion in short-term securities we have to roll over, we have, and this is from the Office of Budget Management,
[48:55.320 --> 49:08.320]  if over the next year they're projecting we have a $1.5 trillion deficit to also fund $3.5 trillion in one year?
[49:09.320 --> 49:15.320]  Where's that going to come from? Who's got that kind of cash to loan us? Nobody.
[49:15.320 --> 49:24.320]  This means that we're going to be monetizing our debt. That's a really nice fancy economic way of saying we're going to print money we don't have.
[49:25.320 --> 49:33.320]  Well, if we print money with nothing to back it, well it never had anything anyway but that's a different game for another show.
[49:34.320 --> 49:39.320]  If we keep printing money every time the machine clicks over and spits out another sheet,
[49:39.320 --> 49:48.320]  the value of all the money that all of us tonight listening, all that loses some value.
[49:49.320 --> 49:57.320]  It's called inflation. It's called devaluing your currency. It's called monetization of debt.
[49:58.320 --> 50:06.320]  All of these things are like pouring gasoline on a corn plant and wondering if it will thrive.
[50:06.320 --> 50:11.320]  It's impossible. It's a guaranteed screw-up waiting to happen.
[50:12.320 --> 50:19.320]  The paper markets are poison. The precious metals markets, the commodities markets, they've been on fire lately.
[50:20.320 --> 50:25.320]  Gold today had a major pullback. It was down like $49 today.
[50:26.320 --> 50:31.320]  And I'm sure, because I didn't pay attention because I personally didn't have the stomach for it,
[50:31.320 --> 50:35.320]  I didn't even want to turn on the news and listen because all the pundits would say,
[50:36.320 --> 50:41.320]  was that it? Did the bubble pop? Are all these people who bought gold lately going to get hammered?
[50:42.320 --> 50:50.320]  Well, I'm a buyer of gold. This is something that I'm looking at as life insurance or property insurance.
[50:51.320 --> 50:59.320]  An analogy and story I've given in the past is, Debra, do you have a home and if you do, do you have fire insurance on your home?
[50:59.320 --> 51:03.320]  Yes, to both questions.
[51:04.320 --> 51:05.320]  Did your home ever burn down?
[51:06.320 --> 51:06.320]  No.
[51:07.320 --> 51:11.320]  Do you know anybody personally whose home ever burned down and they had to claim the fire insurance?
[51:12.320 --> 51:12.320]  No.
[51:13.320 --> 51:21.320]  Okay. About 19 out of 20 times I asked that question, I get the same answer you just gave me.
[51:22.320 --> 51:26.320]  But you couldn't really imagine going to bed tonight without that insurance policy, could you?
[51:26.320 --> 51:31.320]  Because what happens if the freakish thing happens and your house burns?
[51:32.320 --> 51:37.320]  You still owe whatever money was on your mortgage for the house even though there's no house to live in.
[51:38.320 --> 51:43.320]  It would be like a financial nuclear bomb going off in your life.
[51:44.320 --> 51:51.320]  Well, gold for me personally has been like life insurance or property and fire insurance.
[51:51.320 --> 51:58.320]  The cool thing, the way I look at it, is I can buy this stuff and it never expires.
[51:59.320 --> 52:09.320]  I don't have to buy a new gold coin because at the end of December 31, 2009, the coin doesn't just go poof and evaporate.
[52:10.320 --> 52:18.320]  I still have it. So next year I can buy more and I have this year's policy and next year's policy.
[52:18.320 --> 52:22.320]  And the years previous, I still have them.
[52:23.320 --> 52:34.320]  If I were to buy gold at $1,200 an ounce and it goes down $150, if I panic and sell it all, well, I took a loss.
[52:35.320 --> 52:44.320]  If I take a big deep breath and say, well, when gold was $1,000 it pulled back to $700 during the financial catastrophe.
[52:44.320 --> 52:48.320]  That's a pretty big drop. That's 30%.
[52:49.320 --> 52:58.320]  If I was looking at this like I personally did and said, well, on the long haul we haven't addressed anything.
[52:59.320 --> 53:08.320]  The pullback in this is a temporary thing and now that gold is 30% cheaper, I'm going to buy more of it, which I did.
[53:08.320 --> 53:15.320]  When gold went from $700 to $1,000, everybody was talking about the markets topping out.
[53:16.320 --> 53:22.320]  The last time I was on the show I said I was really suspicious about what's going to happen next in the future price movement.
[53:23.320 --> 53:27.320]  I tried to describe how I do it because I can't give advice to anybody else.
[53:28.320 --> 53:31.320]  I can just kind of by an example say, well, I've done this.
[53:31.320 --> 53:38.320]  If you're going to do anything, you better go seek qualified financial support and advice from somebody who has a license to give it.
[53:39.320 --> 53:49.320]  But for me, I look at it like imagine you have $100,000. Gold right now is like $1,150 an ounce.
[53:50.320 --> 53:58.320]  If I were to buy say $80,000 worth of gold and I take delivery, I still have 20 grand sitting in my hand.
[53:58.320 --> 54:08.320]  Every once in a while, like up in here, I can go buy a put option. This is a use of paper gold.
[54:09.320 --> 54:23.320]  If the price of gold were to fall like it did today, I could use the money from that put option to put in my pocket and wait to where maybe I think it's reached its selling climax or maybe it hasn't.
[54:23.320 --> 54:28.320]  But the long and short of it is I'm not losing the gold that I have.
[54:29.320 --> 54:31.320]  I knew what I was getting into and the risk that I took.
[54:32.320 --> 54:38.320]  And looking at it on a long-term perspective, I'm not selling every time it turns around.
[54:39.320 --> 54:44.320]  I'm buying when everybody is saying, okay, that's it. The bubble popped. It's all over. It's all done.
[54:44.320 --> 55:07.320]  The amount of paper that's disintegrating, the confidence that's being lost, the buffoonery in central banks and governments around the world absolutely positively assures in my eyes not only have we not fixed anything, but it's going to get worse.
[55:07.320 --> 55:18.320]  And as it does, people are going to lose confidence. And as they do, they're going to start flocking from paper assets, which means tangible assets are going to continue going up.
[55:19.320 --> 55:24.320]  So I pulled up a chart during the last break just to review something.
[55:24.320 --> 55:38.320]  2007, until May of 2008, gold went from $650 to $1,000.
[55:38.320 --> 55:53.320]  If you look at the – I'm sorry, not May – March of 2008, when gold hit $1,000, it pulled back all the way to May, back to $850.
[55:54.320 --> 56:00.320]  From May to August of the same year, it went back up to about $980, real close.
[56:00.320 --> 56:11.320]  This is about the point where all of the paper that started out. And as that unraveling took place, people –
[56:12.320 --> 56:15.320]  Steve, Steve, you're kind of cutting out.
[56:16.320 --> 56:17.320]  Oh, sorry about that.
[56:18.320 --> 56:21.320]  Yeah, can you repeat the last couple of sentences that you just said?
[56:22.320 --> 56:22.320]  Sure, I'd be happy to.
[56:23.320 --> 56:23.320]  Okay, thanks.
[56:23.320 --> 56:38.320]  When gold made that second approach towards $1,000 an ounce, this was right before the paper markets in the bonds and the real estate and the whole subprime thing started to really blow up.
[56:39.320 --> 56:46.320]  This is when we saw Lehman Brothers collapse. This is when we started hearing about AIG and all their problems out there.
[56:46.320 --> 56:57.320]  People got scared, and they threw out the baby with the bath water. And in doing so, it knocked down the price of the metals, but it was a temporary thing.
[56:58.320 --> 57:02.320]  Now, since the low – where are we here?
[57:03.320 --> 57:11.320]  Since the low in mid-October to almost the beginning of November of 2008, gold went all the way down to $700.
[57:11.320 --> 57:25.320]  Now, at the same time, the stock market had like – let's use the Dow Jones. I believe it had gotten to $6,660. Nice, evil little number there.
[57:26.320 --> 57:38.320]  Since then, the Dow has come back to like $10,450, almost $10,500. So we're really looking at like, what, an 80% gain.
[57:38.320 --> 57:43.320]  Gold has gone from $700 to $1,200.
[57:44.320 --> 58:02.320]  The thing is, if you look at the stock market performance versus the precious metals market performance over the last eight years, gold is absolutely beating the snots in gold, silver, platinum, palladium, beating the snots out of paper.
[58:02.320 --> 58:08.320]  That trend is just beginning. It's not ending. At least not in my opinion.
[58:09.320 --> 58:15.320]  When people start figuring that out, then it will really start to climb.
[58:16.320 --> 58:16.320]  Oh, yes.
[58:17.320 --> 58:24.320]  Let's get right back to that after our break, because that's a confidence thing. And I want to give you a couple of examples on confidence mixed with gold.
[58:24.320 --> 58:31.320]  Absolutely. And you're also – what about silver?
[58:32.320 --> 58:35.320]  Well, it's one of the platinates. It's all the same thing.
[58:36.320 --> 58:38.320]  All the same. So when you say gold, you mean metals?
[58:39.320 --> 58:39.320]  Yes.
[58:40.320 --> 58:43.320]  Okay, good. Excellent. Excellent. Okay, perfect. We will be right back, listeners.
[58:43.320 --> 58:56.320]  We've got about a three-minute break. Top of the hour news, and we'll get back to confidence with gold and silver and copper. Maybe some others, too. We'll be right back.
[58:57.320 --> 58:58.320]  And lead. And lead.
[58:59.320 --> 59:00.320]  And lead. And lead. Perfect.
[59:01.320 --> 59:05.320]  Activism. Education. Celebration. Looking for something to do this October?
[59:05.320 --> 59:16.320]  Be part of the largest freedom festival on either side of the Mississippi, the Midwest Liberty Fest. Come to DeCoin, Illinois this October 9th, 10th, and 11th.
[59:17.320 --> 59:25.320]  The festival includes speakers, activist dreams, workshops, music, and great venues. Bring a friend and tell them to bring a friend.
[59:25.320 --> 59:36.320]  This festival is for everyone who loves freedom of all ages. Don't miss the Midwest Liberty Festival at the state fairgrounds in DeCoin, Illinois, October 9th, 10th, and 11th.
[59:37.320 --> 59:47.320]  Visit the website at www.MidwestLibertyFest.com for all the details. At www.MidwestLibertyFest.com. Don't let the fall blues get you down.
[59:47.320 --> 59:58.320]  Come join the fun. Tickets are going fast, so don't miss out on the Midwest Liberty Fest, the best Oktoberfest this year. At www.MidwestLibertyFest.com.
[59:59.320 --> 01:00:03.320]  This news brief brought to you by the International News Net.
[01:00:04.320 --> 01:00:14.320]  The latest threat to allied soldiers in Afghanistan has been uncovered after insurgents sent a donkey loaded with high explosives galloping towards a military camp.
[01:00:14.320 --> 01:00:24.320]  A suspicious sentry killed the animal after flares failed to halt it. Troops approaching the dead donkey lit the bundle of hay on its back with a flare.
[01:00:25.320 --> 01:00:34.320]  There was a huge blast. Defense Secretary Robert Gates said Thursday the withdrawal of U.S. forces from Afghanistan, scheduled to begin in July 2011,
[01:00:35.320 --> 01:00:41.320]  will probably take two or three years, adding there are no deadlines in terms of when our troops will all be out.
[01:00:41.320 --> 01:00:47.320]  The unemployment rate unexpectedly fell to 10% last month from 10.2% in October.
[01:00:48.320 --> 01:00:56.320]  The better-than-expected figures provided a rare dose of good news for a labor market that's lost 7.2 million jobs in two years.
[01:00:57.320 --> 01:01:07.320]  Tests show products billed as microwave safe released toxic doses of the chemical bisphenol A when heated.
[01:01:07.320 --> 01:01:14.320]  The Milwaukee Journal Sentinel had the containers of 10 items that were heated in a microwave oven tested in a lab.
[01:01:15.320 --> 01:01:19.320]  Bisphenol A or BPA was found to be leaching from all of them.
[01:01:20.320 --> 01:01:26.320]  The amounts detected were at levels scientists have found caused neurological and developmental damage in lab animals.
[01:01:27.320 --> 01:01:33.320]  The problems include genital defects, behavioral changes and abnormal development of mammary glands.
[01:01:33.320 --> 01:01:39.320]  The changes to mammary glands were identical to those observed in women at higher risk of breast cancer.
[01:01:40.320 --> 01:01:46.320]  BPA is a key ingredient in household plastics, including baby bottles and storage containers.
[01:01:47.320 --> 01:01:56.320]  Frederick Vomsal, a University of Missouri researcher who oversaw the paper's testing, said there is no such thing as safe microwavable plastic.
[01:01:56.320 --> 01:02:02.320]  Food company officials say the doses detected were so low as to be insignificant.
[01:02:03.320 --> 01:02:12.320]  The New York Times reports the White House has authorized an expansion of the CIA's drone program in Pakistan's tribal areas
[01:02:13.320 --> 01:02:18.320]  to parallel Barack Obama's decision to send 30,000 more troops to Afghanistan.
[01:02:18.320 --> 01:02:25.320]  The Times says the drone program is hailed by counter-terrorism officials as a resounding success,
[01:02:26.320 --> 01:02:29.320]  eliminating key terrorists and throwing their operations into disarray.
[01:02:30.320 --> 01:02:36.320]  But despite close cooperation from Pakistani intelligence, the program has generated public anger in Pakistan
[01:02:37.320 --> 01:02:40.320]  and some experts wonder whether it does more harm than good.
[01:02:41.320 --> 01:02:43.320]  Several hundred civilians are reported to have been killed.
[01:02:43.320 --> 01:02:50.320]  The Times says for the first time in history, a civilian intelligence agency is using robots to carry out a military mission,
[01:02:51.320 --> 01:02:55.320]  selecting people for killing in a country where the U.S. is not officially at war.
[01:02:56.320 --> 01:03:00.320]  This news brief brought to you by the International News Net.
[01:03:00.320 --> 01:03:12.320]  You are listening to the rule of law radio network at ruleoflawradio.com, live free speech talk radio at its best.
[01:03:30.320 --> 01:03:35.320]  Yeah, what's going on?
[01:03:36.320 --> 01:03:39.320]  I'm going crazy.
[01:03:40.320 --> 01:03:43.320]  I will identify my brothers.
[01:03:44.320 --> 01:03:46.320]  I will tell you the truth.
[01:03:47.320 --> 01:03:50.320]  I will identify my brothers.
[01:03:51.320 --> 01:03:54.320]  As a human being with strength and wisdom,
[01:03:55.320 --> 01:03:57.320]  I will aid my concerns.
[01:03:57.320 --> 01:04:00.320]  I will identify my brothers.
[01:04:01.320 --> 01:04:04.320]  Yeah, I will identify my brothers.
[01:04:05.320 --> 01:04:07.320]  I will identify these things.
[01:04:08.320 --> 01:04:11.320]  I will identify my brothers.
[01:04:12.320 --> 01:04:18.320]  I will guard these walls if they come to take these things.
[01:04:19.320 --> 01:04:22.320]  I will identify my brothers.
[01:04:22.320 --> 01:04:28.320]  Take a look in every night to show your father and his son kiss all the parasite from around you.
[01:04:29.320 --> 01:04:31.320]  He will lie down and even murder others.
[01:04:32.320 --> 01:04:35.320]  The system of the house because they cannot enter.
[01:04:36.320 --> 01:04:38.320]  Curing客, cleaning their hands and leaving.
[01:04:39.320 --> 01:04:41.320]  Only them could enter in that house, you see.
[01:04:42.320 --> 01:04:44.320]  See your crew so sorry that quickly.
[01:04:45.320 --> 01:04:46.320]  That's what you're doing now, we own the house, you see.
[01:04:47.320 --> 01:04:50.320]  I will identify my brothers.
[01:04:50.320 --> 01:05:08.200]  okay we are back okay so we were saying right before the break that well once
[01:05:08.200 --> 01:05:13.240]  people start figuring it out about the metals once the mainstream starts
[01:05:13.240 --> 01:05:18.400]  figuring it out and the brokers can't fool people anymore into staying away
[01:05:18.400 --> 01:05:24.120]  from gold and the other metals it's just going to start rising even more and so
[01:05:24.120 --> 01:05:29.960]  that's the good news and Steve you were just about to get into confidence with
[01:05:29.960 --> 01:05:34.920]  gold and and I was wanting to know here you know your project your projection
[01:05:34.920 --> 01:05:38.720]  when is when is the lid going to come off it's like a pressure cooker they're
[01:05:38.720 --> 01:05:43.000]  trying so hard to keep the metals down the price of the metals down but it's
[01:05:43.000 --> 01:05:46.560]  like a pressure cooker about to explode with when is the top going to explode
[01:05:46.560 --> 01:05:52.080]  when is it going to like skyrocket the price of metals well you know it depends
[01:05:52.080 --> 01:05:56.280]  on how you want to look at it you know I look back at the first day of September
[01:05:56.280 --> 01:06:06.120]  gold was 950 we just hit 1225 I mean it pulled back today granite okay but we
[01:06:06.120 --> 01:06:12.920]  had just hit 1225 I don't know what's that like a 18 percent 19 percent gain
[01:06:12.920 --> 01:06:21.240]  in you know three months wow I mean that's incredible in my book just to
[01:06:21.240 --> 01:06:26.200]  give you an example because of the artificially manipulated interest rates
[01:06:26.200 --> 01:06:30.400]  that we're looking at from the central bank the non-federal non-reserved non
[01:06:30.400 --> 01:06:36.720]  bank if you had your money in Treasury bills right now this is a 90-day
[01:06:36.720 --> 01:06:42.000]  security that's called you know when you hear flight to quality or knee-jerk
[01:06:42.000 --> 01:06:47.200]  dumping in money into bonds you know when something goofy happens big
[01:06:47.200 --> 01:06:53.480]  traders will take a big medium small traders will have a position of
[01:06:53.480 --> 01:07:00.240]  different equities and stuff okay when they get scared they take some of that
[01:07:00.240 --> 01:07:07.000]  money and put it in T bills T bills could be used good as cash T bills could
[01:07:07.000 --> 01:07:14.680]  be used for margin in derivative contract generally somebody on Wall
[01:07:14.680 --> 01:07:18.240]  Street feels that they're doing pretty darn good for themselves if at every
[01:07:18.240 --> 01:07:27.040]  10 to 15 years you they can double their money okay now try to imagine and I
[01:07:27.040 --> 01:07:32.760]  Deborah and sorry Deborah and Randy I want you both to give me a number when I
[01:07:32.760 --> 01:07:37.400]  ask you this question how long do you suppose you would have to leave your
[01:07:37.400 --> 01:07:46.600]  money in T bills at current rates to double your money don't jump at once go
[01:07:46.600 --> 01:07:53.640]  ahead I'm I don't know I don't know but I doubt that it's going to be anything
[01:07:53.640 --> 01:08:00.440]  like 10 or 15 years aren't they way down there like 4% and so I take many
[01:08:00.440 --> 01:08:09.080]  decades I don't know Eddie you got any idea oh I'd say safety years how many
[01:08:09.080 --> 01:08:17.680]  but 20 he's Eddie says 50 Randy says 20 I say I say like 30 40 something like
[01:08:17.680 --> 01:08:21.880]  that I don't know I have to I'd have to get my calculator out you ready for
[01:08:21.880 --> 01:08:31.360]  this what six thousand four hundred oh man oh he's talking about the actual
[01:08:31.360 --> 01:08:39.360]  value of the dollar here Eddie that was you right yeah yes okay do you ever
[01:08:39.360 --> 01:08:46.560]  wonder why I call dollars coupon well I know it's monopoly money well you flip
[01:08:46.560 --> 01:08:50.920]  over a coupon in the newspaper and it says in little micro print cash value
[01:08:50.920 --> 01:08:56.480]  one-tenth of one cent the only thing about the dollar bill is we actually
[01:08:56.480 --> 01:09:02.040]  have some fairly sophisticated printing technology and it costs 2.3 cents to
[01:09:02.040 --> 01:09:11.000]  create a 1 5 10 20 50 and hundred dollar bill the cost to the Treasury is the
[01:09:11.000 --> 01:09:17.160]  same oh yeah the cost of the Federal Reserve is even less they don't even
[01:09:17.160 --> 01:09:23.440]  have to do anything some guy in a computer clicks a button okay getting
[01:09:23.440 --> 01:09:28.800]  back to the gold thing if you're putting your money in gold which is this
[01:09:28.800 --> 01:09:37.400]  barbaric risky asset compare that to T bills this is the vehicle of choice for
[01:09:37.400 --> 01:09:43.960]  traders around the globe to dive into any time they sent a real problem brewing
[01:09:43.960 --> 01:09:49.840]  I'll dump out a portion of my portfolio I'll throw it into T bills because it's
[01:09:49.840 --> 01:09:55.360]  guaranteed by the United States government that means it's guaranteed by
[01:09:55.360 --> 01:10:04.000]  you and I folks that's the real guarantee they have us ransom captive and
[01:10:04.000 --> 01:10:09.360]  as long as we're ransom captive every bit of work and every asset we have is
[01:10:09.360 --> 01:10:18.240]  pledged as collateral against the debt well the go-to asset would take you
[01:10:18.240 --> 01:10:24.480]  six thousand years to get your money back double where the interest or the
[01:10:24.480 --> 01:10:31.080]  inflation rate over the next ten years is guaranteed to be double or much much
[01:10:31.080 --> 01:10:38.520]  much much much higher I don't know that sounds like a loser to me and as far as
[01:10:38.520 --> 01:10:44.700]  confidence goes there is so much there are so many people right now looking to
[01:10:44.700 --> 01:10:51.960]  buy gold and silver the best scam in my personal opinion and this is you know
[01:10:51.960 --> 01:10:57.000]  you can find many people who would take the opposite side of the coin okay my
[01:10:57.000 --> 01:11:02.680]  personal opinion is the ETFs were the biggest scam ever created because the
[01:11:02.680 --> 01:11:08.560]  governments know people are going to want this stuff if we create these entities
[01:11:08.560 --> 01:11:14.080]  that allow you to purchase give me your money and I'll tell you I put a certain
[01:11:14.080 --> 01:11:18.480]  amount of gold or a certain amount of silver aside if you read the fine print
[01:11:18.480 --> 01:11:24.360]  they basically tell you outright it's impossible to audit us you'll never know
[01:11:24.360 --> 01:11:28.680]  if we have it if gold ever goes up enough and you demand physical delivery
[01:11:28.680 --> 01:11:34.320]  you'll be denied they'll do what's called cash settlement because of the
[01:11:34.320 --> 01:11:41.480]  demand out there on gold and silver the IMF I believe in my heart the IMF came
[01:11:41.480 --> 01:11:44.840]  out and said we're going to collude with the rest of the central banks we got to
[01:11:44.840 --> 01:11:48.720]  put a limit on this gold thing getting away and it's making our politicians
[01:11:48.720 --> 01:11:56.480]  look really stupid which is kind of an oxymoron right so we're going to say the
[01:11:56.480 --> 01:12:02.600]  IMF is going to sell 200 metric tons of gold India steps forward buys the whole
[01:12:02.600 --> 01:12:08.880]  thing gold goes up a hundred dollars an ounce in just a matter of days there's
[01:12:08.880 --> 01:12:13.040]  more talk of more selling everybody and their brothers out there licking their
[01:12:13.040 --> 01:12:19.200]  chops going oh yeah so more supplies going to hit the market with all the
[01:12:19.200 --> 01:12:23.760]  credit problems there's tons of gold companies out there who are actually
[01:12:23.760 --> 01:12:29.000]  having a hard time with current costs because of actual real-world inflation
[01:12:29.000 --> 01:12:34.800]  to produce gold out of the ground for less than say eight or nine hundred
[01:12:34.800 --> 01:12:41.600]  bucks an ounce which means they still don't have a ton of profit you know
[01:12:41.600 --> 01:12:47.160]  Mattel or Microsoft would really smoke them as far as what it cost them to make
[01:12:47.160 --> 01:12:54.720]  something and then sell it gold is money for ten thousand years and people are
[01:12:54.720 --> 01:12:59.640]  having a hard time making a good or substantial sustained profit is a mining
[01:12:59.640 --> 01:13:05.480]  operation silver is a completely different animal altogether there are
[01:13:05.480 --> 01:13:13.000]  very very few pure gold or pure silver mining company most of them deal with
[01:13:13.000 --> 01:13:19.800]  tailings I have a copper mine and one of the byproducts of mining for copper is
[01:13:19.800 --> 01:13:25.320]  you just happen to discover silver within the mix the silver gets refined
[01:13:25.320 --> 01:13:29.200]  out because obviously it's worth more than the copper is then it makes it
[01:13:29.200 --> 01:13:32.200]  worthwhile for these companies to produce it that's where we get a whole
[01:13:32.200 --> 01:13:37.600]  bulk of it 50 years ago we had something like 60 billion ounces of silver in this
[01:13:37.600 --> 01:13:42.980]  country because the prices have been artificially suppressed for so long we
[01:13:42.980 --> 01:13:49.000]  used it instead of saying okay I built a computer board and I have silver wire
[01:13:49.000 --> 01:13:53.360]  running through it and there's silver content in the microchips and frankly
[01:13:53.360 --> 01:13:56.640]  any of the high-tech devices any of us have grown accustomed to would be
[01:13:56.640 --> 01:14:01.640]  technologically impossible without using silver but because the price has
[01:14:01.640 --> 01:14:06.920]  been held down for so long people put silver in a computer board along with
[01:14:06.920 --> 01:14:12.960]  gold but because of the amount of energy it takes to melt a computer board in
[01:14:12.960 --> 01:14:17.480]  it's very costly to get the gold out it can be done and it can be done
[01:14:17.480 --> 01:14:23.040]  profitably but you have to be on like a really big scale to pull it off as far
[01:14:23.040 --> 01:14:29.080]  as the silver goes it's just not worth the effort the risk or the cash to try
[01:14:29.080 --> 01:14:34.040]  to melt that board and also pull the silver off of it so the silver gets
[01:14:34.040 --> 01:14:40.120]  thrown in a landfill kind of like from dust to dust for the last 20 years
[01:14:40.120 --> 01:14:45.280]  especially since the advent of the digital camera I've been hearing silver
[01:14:45.280 --> 01:14:51.480]  is absolutely dead and doomed especially by the deflationist camps because we
[01:14:51.480 --> 01:14:56.000]  have you know these fancy little digital cameras we're not using as much silver
[01:14:56.000 --> 01:15:01.680]  nitrate or silver compounds in the development of film that's going to kill
[01:15:01.680 --> 01:15:06.320]  the silver market demand well folks the amount of electronic use in my opinion
[01:15:06.320 --> 01:15:12.040]  is much more critical than the amount of silver ever to be used for photography
[01:15:12.040 --> 01:15:21.400]  as you hear about more of these how do I put this coincidental viruses being you
[01:15:21.400 --> 01:15:28.120]  know blooming all over the place one of the nicest and coolest gifts in my
[01:15:28.120 --> 01:15:34.880]  opinion was the fact that silver is one of the most stringent antiviral elements
[01:15:34.880 --> 01:15:41.480]  on earth they spray this stuff on the inside of ducks and hospitals to kill
[01:15:41.480 --> 01:15:46.960]  the MRSA virus or to try to keep it at bay some of our soldiers serving in
[01:15:46.960 --> 01:15:51.080]  different fields of battle across the planet have silver woven into their
[01:15:51.080 --> 01:15:58.800]  socks so when they're running around in boots in 120 130 degrees sand that as
[01:15:58.800 --> 01:16:03.320]  their feet perspire and start building up bacteria the silver strands in the
[01:16:03.320 --> 01:16:08.560]  socks actually help kill it knock it down so they don't get athletes foot you
[01:16:08.560 --> 01:16:14.120]  can't do that with anything else this is elemental stuff then the amount of
[01:16:14.120 --> 01:16:19.440]  silver we have consumed and wasted cannot be easily regained the companies
[01:16:19.440 --> 01:16:24.120]  out there that are doing copper well with a depression in the brew copper
[01:16:24.120 --> 01:16:29.740]  prices are still well below their highs sent prior to the beginning of the
[01:16:29.740 --> 01:16:36.360]  collapse of the whole paper market I hate this thing I know you got to do it
[01:16:36.360 --> 01:16:43.240]  but these things are really distracted sorry our affiliates override the
[01:16:43.240 --> 01:16:46.880]  network breaks with their own local ads so I really can't skip the brakes I'm
[01:16:46.880 --> 01:16:50.400]  sorry no because we're on the AM and FM stations if it was just an internet
[01:16:50.400 --> 01:16:59.920]  stream I would skip it we'll be right back it's only one minute
[01:16:59.920 --> 01:17:04.200]  hello Austin my name is Harlan Dietrich owner of brave new books a local
[01:17:04.200 --> 01:17:07.760]  independent bookstore here in town many of you are familiar with the bookstore
[01:17:07.760 --> 01:17:11.160]  and have attended some of our events we've been proud to host speakers like
[01:17:11.160 --> 01:17:15.040]  Alex Jones Ron Paul Jim Mars Katherine Albert Webster Carpley
[01:17:15.040 --> 01:17:19.640]  Griffin and many other heroic figures in the patriot movement but now brave new
[01:17:19.640 --> 01:17:23.400]  books need your help in order to continue to provide a space for these
[01:17:23.400 --> 01:17:27.880]  events and be an outlet for hard-to-find materials we're going to need you Austin
[01:17:27.880 --> 01:17:31.040]  to help spread the word about the bookstore please tell your friends and
[01:17:31.040 --> 01:17:35.120]  family about the wide variety of materials we offer we also have DVD
[01:17:35.120 --> 01:17:39.680]  duplication capabilities for all you activists also if you haven't visited us
[01:17:39.680 --> 01:17:43.720]  yet please come down and show your support it is so easy to support the big
[01:17:43.720 --> 01:17:47.760]  corporate chain stores to do nothing to further our message remember you vote
[01:17:47.760 --> 01:17:51.320]  with your dollars we're counting on you Austin if you need any information
[01:17:51.320 --> 01:18:18.320]  please call 512-480-2503 or visit us at 1904 Guadalupe Street thank you everyone
[01:18:22.320 --> 01:18:31.960]  okay Steve please continue copper silver and this is elemental stuff won't
[01:18:31.960 --> 01:18:36.480]  kill nothing else will pull bacteria like that so go ahead well the demand
[01:18:36.480 --> 01:18:42.640]  for silver is huge and every day that we get more technologically advanced we're
[01:18:42.640 --> 01:18:46.760]  going to need even more of it what I find really ironic and I think I've
[01:18:46.760 --> 01:18:51.960]  talked about this in every one of the shows you had me on there is more gold
[01:18:51.960 --> 01:18:58.160]  above ground than there is silver in generally the rarer something is the
[01:18:58.160 --> 01:19:02.840]  more value it holds and I find it extremely hard to believe that while
[01:19:02.840 --> 01:19:08.800]  gold was having this monumental run-up you know nine hundred dollars to 1225
[01:19:08.800 --> 01:19:15.320]  how silver only goes up a couple bucks and yeah it had an intraday low recently
[01:19:15.320 --> 01:19:21.000]  or several months back of like eight dollars and seventy five cents it traded
[01:19:21.000 --> 01:19:29.720]  up as high as I think 1940 1936 just a few days ago but if there's more gold
[01:19:29.720 --> 01:19:33.520]  above ground than silver wouldn't you think those two numbers would be a
[01:19:33.520 --> 01:19:40.840]  little closer to each other that $19 versus you know $1,200 but something
[01:19:40.840 --> 01:19:51.520]  like $1,200 versus $500 at some point somewhere out in the future this fact
[01:19:51.520 --> 01:19:57.640]  is going to become become common knowledge just like we had with the
[01:19:57.640 --> 01:20:02.800]  internet bubble just like we had with the real estate bubble at some point
[01:20:02.800 --> 01:20:06.720]  people are going to put two and two together and say you know what I made a
[01:20:06.720 --> 01:20:12.600]  ton of money in gold I could take some of that just raw profit and put it into
[01:20:12.600 --> 01:20:19.520]  silver and see how that goes for a while I've had people ask me where do you see
[01:20:19.520 --> 01:20:24.880]  the price of silver going in the past I would say anywhere between a hundred and
[01:20:24.880 --> 01:20:29.960]  a hundred and thirty dollars an ounce now I'm going to say something I know
[01:20:29.960 --> 01:20:34.640]  I'm going to get laughed at not by you guys necessarily but by the listeners at
[01:20:34.640 --> 01:20:39.520]  least some of them I realistically see gold or silver going somewhere between
[01:20:39.520 --> 01:20:46.240]  four and eight hundred dollars and out I also believe during that time we might
[01:20:46.240 --> 01:20:55.480]  see the Dow Jones in a six digit number because our currency as far as I'm
[01:20:55.480 --> 01:21:02.680]  concerned is kaput yeah we had a really big rally today well if I take a dead
[01:21:02.680 --> 01:21:08.680]  cat and throw it out of a 30-story window when the dead cat hits the ground it's
[01:21:08.680 --> 01:21:13.960]  just going to bounce there's physics behind that if I take the dollar which
[01:21:13.960 --> 01:21:18.240]  is a dead animal too and I throw it out the window it's going to bounce once in
[01:21:18.240 --> 01:21:23.520]  a while and that's what we saw today we can see the dollar get manipulated
[01:21:23.520 --> 01:21:28.080]  because you know what do we have going on right now we have the the Senate
[01:21:28.080 --> 01:21:34.280]  recon reconfirmation hearings for the you know helicopter whirly bird bird
[01:21:34.280 --> 01:21:39.960]  Bernanke this is the chairman of the Federal Reserve whose term is up and
[01:21:39.960 --> 01:21:45.080]  there is a political process about having him reinstated as the chairman of
[01:21:45.080 --> 01:21:51.560]  the Federal Reserve how this guy could even get in the job in the first place I
[01:21:51.560 --> 01:21:56.360]  find questionable the fact that he could be actually reconfirmed blows me away
[01:21:56.360 --> 01:22:03.760]  this is a man who has a doctorate in economics who has gone to Harvard who is
[01:22:03.760 --> 01:22:13.240]  supposed to be the pinnacle of economic knowledge and fortitude now please
[01:22:13.240 --> 01:22:18.040]  forgive me in advance but I like to keep things simple he is either the most
[01:22:18.040 --> 01:22:24.240]  crooked rat bastard of all of them or he's cataclysmically stupid take your
[01:22:24.240 --> 01:22:31.520]  pick because there's no way somebody with that level of brainstem power could
[01:22:31.520 --> 01:22:38.480]  be wrong on every single thing he has said since the day he got interviewed in
[01:22:38.480 --> 01:22:44.800]  the first place this was a couple years ago every single forecast every single
[01:22:44.800 --> 01:22:50.520]  comment every single window of timing everything out of this man's mouth has
[01:22:50.520 --> 01:22:56.160]  been wrong Debra how many times would you have me on your radio show if every
[01:22:56.160 --> 01:23:04.920]  time I mentioned something it was absolutely wrong oh goodness wouldn't
[01:23:04.920 --> 01:23:10.400]  take doing too many times of that steep I love you and everything you're a good
[01:23:10.400 --> 01:23:14.120]  friend but uh he came on my show a couple two three times I think after the
[01:23:14.120 --> 01:23:16.860]  third time if you were wrong every every time I'd be like okay I don't think we're
[01:23:16.860 --> 01:23:22.080]  having it I don't think I have you back dude so if I did it 25 I just wouldn't
[01:23:22.080 --> 01:23:28.080]  be coming back you wouldn't get a chance to do it 25 times well we do that with
[01:23:28.080 --> 01:23:33.680]  the Federal Reserve Chairman I start to say if you did it 25 times I would be
[01:23:33.680 --> 01:23:41.160]  stupid yes that's kind of the point I'm trying to make here okay we have this
[01:23:41.160 --> 01:23:45.320]  man actually sitting in front of the Senate and they're not the Senators
[01:23:45.320 --> 01:23:49.560]  which remember my opinion of them right now I wouldn't hire them to run a
[01:23:49.560 --> 01:23:55.960]  McDonald's God forbid they had to be responsible for the livelihood and
[01:23:55.960 --> 01:24:04.840]  economic prowess of ten people not million okay we have these buffoons who
[01:24:04.840 --> 01:24:11.160]  can actually stomach having this clown in front of them and they don't even
[01:24:11.160 --> 01:24:17.400]  throw rotten fruit at them they actually sit there and listen to him like wow
[01:24:17.400 --> 01:24:21.960]  that's the latest profession of economic wisdom out of your mouth I must take
[01:24:21.960 --> 01:24:27.640]  notes I must write this down this is history unfolding I have one of the most
[01:24:27.640 --> 01:24:31.400]  powerful men in the world sitting in front of me and I get to ask him
[01:24:31.400 --> 01:24:39.000]  question whoo-hoo needless to say he's wrong all the time we had the last
[01:24:39.000 --> 01:24:46.480]  buffoon sir Alan Greenspan this is a guy who's on public record saying we
[01:24:46.480 --> 01:24:52.640]  couldn't tell a bubble if we saw one we never know what a bubble is until it's
[01:24:52.640 --> 01:24:58.480]  too late okay folks if this was any one of the listeners out there who don't
[01:24:58.480 --> 01:25:03.920]  have advanced degrees in economics who don't live eat breathe and sleep
[01:25:03.920 --> 01:25:09.240]  economics I totally could see that then nobody would fault you for it because
[01:25:09.240 --> 01:25:13.600]  you're human and you can only know so many things but when you talk about one
[01:25:13.600 --> 01:25:20.480]  of these perfumed princes not knowing again which one do you want to pick
[01:25:20.480 --> 01:25:27.160]  you're either cataclysmically stupid or you are cataclysmically corrupt there is
[01:25:27.160 --> 01:25:31.080]  nothing in the middle there's no great space there's no questions to ask
[01:25:31.080 --> 01:25:35.240]  there's nothing else to do which side are you on because either answer you
[01:25:35.240 --> 01:25:40.640]  give me you're fired so here's this clown back in front of the Senate trying
[01:25:40.640 --> 01:25:44.760]  to get reappointed sucking up to everybody and I don't know if anybody
[01:25:44.760 --> 01:25:49.160]  wants to pull it up on YouTube tell me this guy doesn't look like he was
[01:25:49.160 --> 01:25:59.160]  seconds away from a cardiac arrest he was scared he was scared that one person
[01:25:59.160 --> 01:26:04.720]  would slip kind of like a james traficant god bless him by the way
[01:26:04.720 --> 01:26:10.440]  and then somebody would slip and go rogue and one person out of that entire
[01:26:10.440 --> 01:26:14.960]  panel would say you know what I have children I'm an American I know
[01:26:14.960 --> 01:26:21.960]  somebody who bled out and died for my country I've had enough hey mr. chairman
[01:26:21.960 --> 01:26:26.640]  why are you monetizing our debt and killing the currency and purchasing
[01:26:26.640 --> 01:26:31.920]  power of all the people who are retiring why are you forcing people who've worked
[01:26:31.920 --> 01:26:35.840]  their entire lives and played by all the rules paid all their taxes to eat cat
[01:26:35.840 --> 01:26:43.080]  food why are you forcing all these people to go into financial apocalypse
[01:26:43.760 --> 01:26:48.280]  how do you sleep at night what kind of drugs do you take because I want some
[01:26:48.280 --> 01:26:58.720]  too oh man we need you up there Steve you've been cracking me at the whole
[01:26:58.720 --> 01:27:02.760]  show I mean yeah I've been having my mic muted most of the time so it
[01:27:02.760 --> 01:27:07.480]  distracted me yeah it's true I don't I just don't understand how these people
[01:27:07.480 --> 01:27:13.000]  can live with themselves well I know some of it's funny I do it on purpose to
[01:27:13.000 --> 01:27:19.680]  try to try to keep it light because if it was 100% serious you can't listen to
[01:27:19.680 --> 01:27:26.320]  it it's it's too bleak it's too disgusting this is what I meant by this
[01:27:26.320 --> 01:27:32.640]  really cool country we have when are we going to act like employer when are we
[01:27:32.640 --> 01:27:36.840]  going to be men when are we going to act like women when are we going to be
[01:27:36.840 --> 01:27:47.040]  adults when are we going to stop being sissy and again being a non sissy does
[01:27:47.040 --> 01:27:51.320]  not mean look how tough I am I'm going to grab a weapon and go hurt people no
[01:27:51.320 --> 01:27:57.120]  that's called a moron okay that is not going to change anything you will never
[01:27:57.120 --> 01:28:03.720]  ever ever defeat these people they own the monopoly on violence all the laws
[01:28:03.720 --> 01:28:08.960]  are slanted against them they've been planning for that knee-jerk reaction for
[01:28:08.960 --> 01:28:13.080]  a very long time and if you think you have a chance I'll just call you worm
[01:28:13.080 --> 01:28:18.840]  food now it's not the way to do it and besides search your heart search the
[01:28:18.840 --> 01:28:24.320]  soul that God gave you you know that's not the answer the answer is to say I'm
[01:28:24.320 --> 01:28:32.280]  not listening to you you're a joke you're not a clown you're a joke you're
[01:28:32.280 --> 01:28:38.320]  not a buffoon you're a joke because I know buffoons and I don't want to insult
[01:28:38.320 --> 01:28:44.600]  them saying that Ben Bernanke is the same he's a buffoon he's a joke sorry I
[01:28:44.600 --> 01:28:51.840]  just contradicted myself now on top of all that since we're talking about
[01:28:51.840 --> 01:28:58.640]  metals there is a guy out there his name is Rob Kirby he has an article over at
[01:28:58.640 --> 01:29:08.200]  123gold.com Rob Kirby broke his story a couple weeks ago about some guys out in
[01:29:08.200 --> 01:29:13.440]  Hong Kong you ready for this man there were some bankers in Hong Kong that
[01:29:13.440 --> 01:29:17.360]  said you know I don't trust you people in New York in London anymore you're all
[01:29:17.360 --> 01:29:23.760]  a bunch of crooks and rat bastards give me my gold I want my gold I don't trust
[01:29:23.760 --> 01:29:29.080]  you I'm tired of the lease games the paper games the commitment and trader
[01:29:29.080 --> 01:29:34.440]  games the manipulation game wait till you're here wait till you hear what they
[01:29:34.440 --> 01:29:40.880]  did I can't wait to hear what they did I bet they tell I bet they they wouldn't
[01:29:40.880 --> 01:29:59.680]  give it to them nope you're wrong ah okay we'll find out when we get back from the break
[01:29:59.680 --> 01:30:04.600]  are you the plaintiff or defendant in a lawsuit win your case without an
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[01:30:39.120 --> 01:30:43.680]  and practices that control our American courts you'll receive our audio
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[01:30:50.720 --> 01:30:56.760]  more please visit ruleoflawradio.com and click on the banner or call toll free
[01:30:56.760 --> 01:31:12.000]  866-LAW-EASY
[01:31:26.760 --> 01:31:54.880]  okay we are back okay so tell us Steve what what do they do what did they do
[01:31:54.880 --> 01:32:00.280]  with it with this guy okay well Ron Kirby isn't the guy anybody did anything
[01:32:00.280 --> 01:32:05.280]  to all he did was basically put his entire reputation on the table and tried
[01:32:05.280 --> 01:32:11.840]  to tell a story that he has some fairly significant contacts about but before I
[01:32:11.840 --> 01:32:18.560]  break the punchline I've got to set the table a little bit more back starting
[01:32:18.560 --> 01:32:23.720]  back about nine twelve months ago people were really complaining about the
[01:32:23.720 --> 01:32:30.520]  bailouts and the misdirected and misguided fiscal policies the endless
[01:32:30.520 --> 01:32:35.560]  deficits the hundred and thirty military bases spread across the planet the
[01:32:35.560 --> 01:32:40.880]  endless wars the we've been told in advance the world the war on terror
[01:32:40.880 --> 01:32:45.920]  will last a hundred years well folks I don't think so because you still got to
[01:32:45.920 --> 01:32:50.760]  pay for the war and if you can't finance it you don't get to fight it real or
[01:32:50.760 --> 01:32:56.680]  perceived well where this gets really weird is a lot of central banks and a
[01:32:56.680 --> 01:33:00.920]  lot of big wigs started going you know what I smell a rat something's just not
[01:33:00.920 --> 01:33:08.400]  right here the numbers don't add up the reality doesn't add up London the London
[01:33:08.400 --> 01:33:15.000]  metals exchange and the Chicago Board of Exchange and the New York metals or
[01:33:15.000 --> 01:33:20.720]  mercantile exchange are some of the most sophisticated guarded metal storage
[01:33:20.720 --> 01:33:28.000]  facilities on the planet earth and London in particular has been a bankers
[01:33:28.000 --> 01:33:33.160]  and goldsmiths warehouse for I don't even know how long somebody out there
[01:33:33.160 --> 01:33:37.920]  probably knows the answer to this but I don't offhand okay let's just say for a
[01:33:37.920 --> 01:33:45.600]  very long time well people started questioning the authenticity of the
[01:33:45.600 --> 01:33:52.440]  numbers coming out of stated inventory now I think I said on at least one of
[01:33:52.440 --> 01:33:57.880]  the prior shows if not every one of them if everybody in America wanted to skip a
[01:33:57.880 --> 01:34:02.600]  couple trips over to McDonald's Burger King Wendy's you know the fast food
[01:34:02.600 --> 01:34:07.760]  joints and they just decided to say you know what this month I'm buying an ounce
[01:34:07.760 --> 01:34:13.960]  of silver if everybody in the country did this even our lovely bought and paid
[01:34:13.960 --> 01:34:20.840]  for Luke illegal alien to get away with murder literally you're talking about
[01:34:20.840 --> 01:34:27.480]  300 million ounces of silver you would instantaneously wipe out the entire
[01:34:27.480 --> 01:34:32.240]  storage facilities of the nine max in the corner or the nine max in the
[01:34:32.240 --> 01:34:39.760]  Chicago Board of Exchange where this gets even more interesting is you had
[01:34:39.760 --> 01:34:48.440]  talk in the Middle East of a goldback denar you had let's see Hong Kong and
[01:34:48.440 --> 01:34:54.440]  Germany who were demanding all their gold held in custodial accounts to be
[01:34:54.440 --> 01:34:59.840]  delivered to them a brand new storage facility I believe was just built in
[01:34:59.840 --> 01:35:05.360]  Hong Kong it could have been China so don't quote me on this it's not that
[01:35:05.360 --> 01:35:11.560]  important but a brand new storage facility in Asia had been built and this
[01:35:11.560 --> 01:35:17.160]  gold was destined to be shipped from London to Asia let's not forget while
[01:35:17.160 --> 01:35:23.880]  I'm telling this story the old adage he who owns the gold makes the rules right
[01:35:23.880 --> 01:35:29.440]  well allegedly on our balance sheet Fort Knox and the other holding
[01:35:29.440 --> 01:35:33.680]  institutions of the United States government has like eight thousand five
[01:35:33.680 --> 01:35:41.040]  hundred metric tons of gold on hand nobody's seen an audit or a valued count
[01:35:41.040 --> 01:35:51.240]  or a say of this information for like 60 years is it there I don't know is it
[01:35:51.240 --> 01:35:57.360]  that much I don't know are we being told that number yes who are we being told
[01:35:57.360 --> 01:36:03.400]  that number to the same people who tell you the inflation rate is 3%
[01:36:03.400 --> 01:36:09.720]  everything's looking rosy we're starting to see a jobless recovery we're starting
[01:36:09.720 --> 01:36:15.400]  to greet see green shoots you know these folks the ones you can trust the money
[01:36:15.400 --> 01:36:20.120]  in the bank well they're lying their asses off which was to call a spade a
[01:36:20.120 --> 01:36:26.320]  spade okay how much gold we have I don't know the one thing that is starting to
[01:36:26.320 --> 01:36:32.320]  break wind out there it is that Hong Kong took physical delivery of a whole
[01:36:32.320 --> 01:36:40.440]  mountain of gold some smart guy pulled one of these good for delivery bars a
[01:36:40.440 --> 01:36:46.280]  good for delivery bar is generally give or take a couple ounces 400 ounces of
[01:36:46.280 --> 01:36:50.680]  gold anybody's ever tried to buy a thousand ounce bar silver nose you'll
[01:36:50.680 --> 01:36:56.120]  never find a thousand ounce bar they're either over or they're under they call
[01:36:56.120 --> 01:37:01.320]  it a thousand ounce bar just to make it even which for delivery same thing it's
[01:37:01.320 --> 01:37:08.280]  a big slab of metal poured into an ingot it cools and dries there's very few of
[01:37:08.280 --> 01:37:12.680]  them that are actually milled which means you know a machine shaves off a
[01:37:12.680 --> 01:37:18.680]  very specific amount so it weighs exactly 400 ounces what's the point if
[01:37:18.680 --> 01:37:24.160]  it's off a little bit it's not 400 ounces right well in Hong Kong some of
[01:37:24.160 --> 01:37:28.640]  these people took a couple bars and drilled some holes in them you never
[01:37:28.640 --> 01:37:37.000]  didn't believe what they found air man tungsten it couldn't be led because it
[01:37:37.000 --> 01:37:41.520]  doesn't weigh the same it wouldn't have the same mass as far as the
[01:37:41.520 --> 01:37:48.960]  displacements of the check the periodic table of element tungsten and gold are
[01:37:48.960 --> 01:37:53.920]  almost identical mass yeah that's how they could get away with it oh boy a ton
[01:37:53.920 --> 01:38:01.800]  of tungsten sells for 70 bucks there's this guy out there now I get
[01:38:01.800 --> 01:38:07.240]  nothing for this his name is Jim Willie he writes he has a website called the
[01:38:07.240 --> 01:38:16.240]  golden jackass dot-com literally he has a newsletter called the hat trick letter
[01:38:16.240 --> 01:38:20.760]  I'm a subscriber to this and I again I get nothing for this I'm not planning on
[01:38:20.760 --> 01:38:26.080]  Jim giving me some break I got to give some credit where credit is due okay
[01:38:26.080 --> 01:38:31.960]  Jim has been talking about some real shenanigans in the delivery system for
[01:38:31.960 --> 01:38:38.000]  oh I want to say at least six months if not a year and one of the things that
[01:38:38.000 --> 01:38:42.440]  Jim has been talking about is something is wrong here the numbers just don't
[01:38:42.440 --> 01:38:48.560]  jive people are clamoring to take physical possession of metal if the IMF
[01:38:48.560 --> 01:38:51.960]  in the United States has all the gold that they say they do and so do the
[01:38:51.960 --> 01:38:57.920]  exchanges what's the problem there was a delivery issue that came up in London
[01:38:57.920 --> 01:39:04.240]  like a month and a half ago where there was purportedly a 25 or 30 percent
[01:39:04.240 --> 01:39:09.760]  premium offered to derivative contract holders of gold these are people who
[01:39:09.760 --> 01:39:16.920]  went long futures positions say let's just pick a number 800 and come the end
[01:39:16.920 --> 01:39:21.720]  of their contract the price of gold was up to a thousand let's just say okay
[01:39:21.720 --> 01:39:27.400]  what normally happens is the holder of that contract says hey cool I just made
[01:39:27.400 --> 01:39:34.360]  20% there's more to it than that because of leverage but I want to try to keep it
[01:39:34.360 --> 01:39:41.360]  simple okay I just made money now according to the contract I'm entitled
[01:39:41.360 --> 01:39:45.640]  to take physical delivery for that metal and I only have to pay the price that I
[01:39:45.640 --> 01:39:50.160]  got into the contract 800 bucks an ounce if it's worth a thousand dollars an
[01:39:50.160 --> 01:39:54.920]  ounce I could buy each contract represents 100 ounces of gold I could
[01:39:54.920 --> 01:39:59.880]  buy a hundred ounces of gold at 800 so I spent 80,000 bucks I could turn around
[01:39:59.880 --> 01:40:04.600]  and flip it for a hundred grand that's a quick 20,000 bucks imagine any one of
[01:40:04.600 --> 01:40:12.200]  you being able to do that in one week Wow pretty pretty sweet huh most of these
[01:40:12.200 --> 01:40:18.600]  folks do these by the basket full of contracts well all of a sudden coming
[01:40:18.600 --> 01:40:24.600]  into London in New York where all these delivery notices people saying no you
[01:40:24.600 --> 01:40:28.600]  know I don't really care that you would pay me two hundred dollars an ounce of
[01:40:28.600 --> 01:40:34.460]  profit for something I really never even had to do I want to buy the metal I want
[01:40:34.460 --> 01:40:38.960]  to actually spend a physical cash in what everybody is saying is a
[01:40:38.960 --> 01:40:44.960]  deflationary environment to buy a tangible asset which is you know deemed
[01:40:44.960 --> 01:40:53.600]  risky and a barbaric relic of the past and there wasn't enough gold to make due
[01:40:53.600 --> 01:40:58.160]  on the contracts for just that one month so a premium was offered for cash
[01:40:58.160 --> 01:41:04.000]  settlement the cash settlement premium would have put gold at evaluation of
[01:41:04.000 --> 01:41:10.240]  roughly $1,300 an ounce and the holders of these contracts said no thank you I
[01:41:10.240 --> 01:41:16.040]  want my gold somewhere in the same ballpark we're hearing that the physical
[01:41:16.040 --> 01:41:22.160]  delivery bars that were being scrounged up were only 90% gold because they were
[01:41:22.160 --> 01:41:27.520]  very old well doesn't that beg to question what the hell happened to all
[01:41:27.520 --> 01:41:35.960]  the other gold hmm maybe it wasn't there in the first place maybe there's not as
[01:41:35.960 --> 01:41:42.440]  much of this stuff as we're being told because if every man woman and child in
[01:41:42.440 --> 01:41:48.400]  America could buy out the whole silver inventory by skipping a couple trips to
[01:41:48.400 --> 01:41:57.760]  a fast-food restaurant something just doesn't sound right there so in Hong Kong
[01:41:57.760 --> 01:42:03.160]  these people started you know trying to say well let's just guarantee that these
[01:42:03.160 --> 01:42:10.800]  are authentic and if you put them under like electronic analysis you know the
[01:42:10.800 --> 01:42:15.680]  little spectrograms read back yep this is true this is a big bar of gold
[01:42:15.680 --> 01:42:22.120]  because the plating involved purportedly was an eighth of an inch thick layer of
[01:42:22.120 --> 01:42:28.280]  gold surrounding a bar of tungsten well unless you drilled a hole in the thing
[01:42:28.280 --> 01:42:33.000]  the amount of metal on the outside sheathing was thick enough to pass a
[01:42:33.000 --> 01:42:38.640]  regular spectral analysis now unless you put this under gamma radiation you
[01:42:38.640 --> 01:42:42.080]  wouldn't be able to tell for sure it's not a whole lot of people that have
[01:42:42.080 --> 01:42:46.680]  access to equipment like that so the people in Hong Kong who originally
[01:42:46.680 --> 01:42:56.640]  drilled out a bar found this to be a tungsten bar with a gold sheet wow I
[01:42:56.640 --> 01:43:03.200]  think that would be the time to break out the lead well let's talk about this
[01:43:03.200 --> 01:43:08.880]  for another minute before we even bring up the lead subject okay I spoke
[01:43:08.880 --> 01:43:14.640]  previously on the last show that I was on about we're going to war folks this
[01:43:14.640 --> 01:43:20.640]  is how nations gear up these are the issues that crop up that make people so
[01:43:20.640 --> 01:43:27.160]  irate that they lose all sense of reality they lose all sense of who they
[01:43:27.160 --> 01:43:32.760]  are and what they were created to be they temporarily lose their minds and
[01:43:32.760 --> 01:43:39.400]  feel that picking up a weapon is the solution that's what I'm saying people
[01:43:39.400 --> 01:43:43.760]  would go there when they see that something like that would happen
[01:43:46.320 --> 01:43:54.200]  dangerous dangerous all right we will be right back we've got one more segment
[01:43:54.200 --> 01:44:06.000]  with Steve
[01:44:06.000 --> 01:44:13.320]  aerial spray chemtrails the modified atmosphere heavy metals and pesticides
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[01:44:47.280 --> 01:44:57.080]  term storage visit hemp usa.org or call 908-691-2608 today
[01:45:47.280 --> 01:46:16.320]  okay we are back man see this is this is pretty scary here because
[01:46:16.320 --> 01:46:24.160]  well Hong Kong receives these tungsten bars what what are they going to do
[01:46:24.160 --> 01:46:27.600]  about it what can be what do you think they're going to do about are they
[01:46:27.600 --> 01:46:31.720]  trying to do anything about it are they gonna like go to war with us over I mean
[01:46:31.720 --> 01:46:36.440]  are they going to be able to get their real gold bars or are some kind or what
[01:46:36.440 --> 01:46:42.720]  the entire country of Hong Kong could not fight Illinois there's enough red
[01:46:42.720 --> 01:46:46.880]  knocks out by me loaded to the eye teeth with shotguns and long bore rifles that
[01:46:46.880 --> 01:46:51.600]  I mean it wouldn't even be a joke right right so Hong Kong doesn't have the
[01:46:51.600 --> 01:46:56.040]  military capacity Hong Kong doesn't have the diplomatic capacity I thought Hong
[01:46:56.040 --> 01:46:59.920]  Kong was that was a was part of China now I didn't think that they were are
[01:46:59.920 --> 01:47:05.640]  they their own country well here let's flip this upside down real quick you're
[01:47:05.640 --> 01:47:11.480]  Hong Kong I'm the United States and one of my next my next door neighbor is the
[01:47:11.480 --> 01:47:18.080]  guy because we're you know London and America are kind of in bed together so
[01:47:18.080 --> 01:47:24.280]  my next door neighbor he he's London and I'm the United States and we both send
[01:47:24.280 --> 01:47:31.960]  you metal and you find out that it's tungsten you immediately call us up and
[01:47:31.960 --> 01:47:36.080]  say hey what did you do what do you mean what did I do well we've got these
[01:47:36.080 --> 01:47:42.200]  bars and they're they're not gold this is tungsten wrapped in gold well wow
[01:47:42.200 --> 01:47:47.960]  that that sucks to be you doesn't it well what do you mean it sucks and you
[01:47:47.960 --> 01:47:53.360]  have to do something about this no we've been in business for how many years all
[01:47:53.360 --> 01:47:58.640]  this metal that we had on deposit this was a saved and guaranteed and whatnot
[01:47:58.640 --> 01:48:03.960]  and when we sent it to you it was good I don't know maybe somewhere in the middle
[01:48:03.960 --> 01:48:08.760]  of the ocean it got switched maybe once it arrived on your shores it was
[01:48:08.760 --> 01:48:12.960]  switched maybe you're just lying to me I don't know what you're trying to pull
[01:48:12.960 --> 01:48:20.840]  but I've had enough of you have a nice day now what you know my grandma used to
[01:48:20.840 --> 01:48:23.960]  tell me when I was a little boy never believe a rumor until it's been
[01:48:23.960 --> 01:48:28.620]  officially denied I'll go look up on the internet what people are saying in
[01:48:28.620 --> 01:48:35.680]  reaction to this story oh I get a kick out of that is this story 100% valid I
[01:48:35.680 --> 01:48:40.320]  don't know but there are different sources out there saying that there's an
[01:48:40.320 --> 01:48:48.160]  immediate rush worldwide for precious metals the Sayers and a Sayers is
[01:48:48.160 --> 01:48:54.320]  somebody who takes a scrap of metal and tells you what it is well this piece of
[01:48:54.320 --> 01:49:00.000]  metal here has so much lead and so much gold and so much copper and so much zinc
[01:49:00.000 --> 01:49:05.240]  that's what they do that's their profession and all of a sudden out of
[01:49:05.240 --> 01:49:10.520]  the blue all these assayers around the world are busy what do you think that
[01:49:10.520 --> 01:49:16.680]  caused that because everybody's denying this true so what if there's even a
[01:49:16.680 --> 01:49:22.880]  shred of truth to us just a shred it would kind of ramp up to me why or prove
[01:49:22.880 --> 01:49:28.920]  to me why we've seen a 15% ramp up in precious metals prices in a month on
[01:49:28.920 --> 01:49:34.760]  top of this we have stories like this coming out we have a total breach of
[01:49:34.760 --> 01:49:42.280]  confidence we have fraud complicity and ignorance running rampant in the halls
[01:49:42.280 --> 01:49:48.720]  of Washington and Wall Street we have people stealing hundreds of billions of
[01:49:48.720 --> 01:49:53.880]  dollars and they don't even get a slap on the wrist or investigated or
[01:49:53.880 --> 01:50:02.820]  anything because they're too big to touch I don't know all I do know is my
[01:50:02.820 --> 01:50:08.840]  original analysis on I don't like paper right now looks to be vindicated to the
[01:50:08.840 --> 01:50:16.680]  nth degree and going forward we have more fundamental reasons than you could
[01:50:16.680 --> 01:50:21.760]  wave a stick at why the precious metals market is not finished with its bull run
[01:50:21.760 --> 01:50:30.720]  yet my personal opinion I could look at a host of different examples of if we
[01:50:30.720 --> 01:50:37.240]  want to look at this as a litmus test of are we in a bubble I don't hear anybody
[01:50:37.240 --> 01:50:41.800]  outside of just a couple people I know that even mention this stuff on any
[01:50:41.800 --> 01:50:46.640]  level regardless of how much it's been going up I don't really know anybody
[01:50:46.640 --> 01:50:50.240]  except for again a hand a small handful when I say that I'm talking about three
[01:50:50.240 --> 01:50:56.320]  to five people okay I don't hear anybody that I talked to in the financial world
[01:50:56.320 --> 01:51:01.800]  saying word one about how important it would be for them to start conveying
[01:51:01.800 --> 01:51:09.360]  assets into tangible I don't hear any radio talk shows about it I see an errant
[01:51:09.360 --> 01:51:15.200]  commercial once in a while saying we will buy your scrap gold there's some
[01:51:15.200 --> 01:51:19.320]  there's some fly by the sea to your night fly by the sea of your pants
[01:51:19.320 --> 01:51:23.760]  company out there I just saw two commercials run back to back two days
[01:51:23.760 --> 01:51:27.520]  after Thanksgiving they said if you send in your gold we'll pay you twenty four
[01:51:27.520 --> 01:51:33.200]  five percent more than we used to for the same gold because we're in a holiday
[01:51:33.200 --> 01:51:39.440]  spirit well it was two days after Thanksgiving and they're still putting
[01:51:39.440 --> 01:51:46.480]  the Thanksgiving commercial on I flip over from Bloomberg over to CNBC this is
[01:51:46.480 --> 01:51:51.400]  kind of late at night I'm just checking on some stuff on the other TV station
[01:51:51.400 --> 01:51:57.080]  they have the same company showing their Christmas special do you need to buy
[01:51:57.080 --> 01:52:04.840]  products for your loved ones do you have some unnecessary or unuseful gold hanging
[01:52:04.840 --> 01:52:09.360]  around if you send it to us there's one time just like you last time this one
[01:52:09.360 --> 01:52:16.040]  time offer of twenty five percent more than we usually pay I don't see people
[01:52:16.040 --> 01:52:20.920]  except for an errant blanchard commercial once in a while saying buy
[01:52:20.920 --> 01:52:28.840]  gold because money sucks buy gold because paper's a joke buy gold because
[01:52:28.840 --> 01:52:35.040]  everybody is lying to you and don't nobody else also backs it up with don't
[01:52:35.040 --> 01:52:38.520]  buy it through an ETF that you can't audit nobody cares and the rules say
[01:52:38.520 --> 01:52:43.480]  that they don't have to pay you in gold why do people mess with this stuff I
[01:52:43.480 --> 01:52:50.440]  don't understand maybe above my logic and knowledge and reality there are
[01:52:50.440 --> 01:52:54.800]  people who have a license to give advice who could rattle off a bunch of reason
[01:52:54.800 --> 01:53:01.520]  like you would never want to actually physically possess the stuff like
[01:53:01.520 --> 01:53:06.440]  actually having a copy of your fire insurance in your safety deposit box or
[01:53:06.440 --> 01:53:13.780]  homes fireproof safe or something well whatever we do know that the breach of
[01:53:13.780 --> 01:53:18.160]  confidence is real we do know that the precious metals have really run up a lot
[01:53:18.160 --> 01:53:22.600]  they've gone to a brand new high now silver being the sneaky little thing
[01:53:22.600 --> 01:53:29.520]  that it is if silver were to match the performance of gold post 1980 high I
[01:53:29.520 --> 01:53:36.320]  think we'd be looking at about 80 bucks an ounce right now so I'm personally
[01:53:36.320 --> 01:53:39.840]  going to be really happy if the metals pull back in here that just means it's
[01:53:39.840 --> 01:53:45.280]  on sale and I get to buy more at a cheaper price I don't care what the
[01:53:45.280 --> 01:53:50.840]  talking heads on CNBC say does anybody actually listen to them anymore does
[01:53:50.840 --> 01:53:56.080]  anybody give a crap what they say anymore just like Ben Bernanke how many
[01:53:56.080 --> 01:54:03.000]  times do you have to be wrong before nobody shows up anymore I just can't
[01:54:03.000 --> 01:54:06.880]  help but ask that question because I must live in a different alternate
[01:54:06.880 --> 01:54:13.120]  reality or alternate universe because in my universe if I don't do a good job I
[01:54:13.120 --> 01:54:17.960]  don't get paid in my universe if I don't say what I'm going to do and do it I
[01:54:17.960 --> 01:54:24.840]  don't get paid heaven forbid I'm wrong all the time I don't get elected to be
[01:54:24.840 --> 01:54:28.440]  the chairman of the Federal Reserve I don't get to be the president of the
[01:54:28.440 --> 01:54:34.040]  United States I don't get to be the head of the United Auto Workers and on and
[01:54:34.040 --> 01:54:39.840]  on and on and on so I must just be completely a buffoon folks and why you've
[01:54:39.840 --> 01:54:44.760]  listened to me this long I can't even imagine cuz I'm just I must just be way
[01:54:44.760 --> 01:54:50.480]  off kilter here cuz you you know what you're talking about that's why we're
[01:54:50.480 --> 01:54:58.480]  listening well if that were true and I say that with a big if okay I would say
[01:54:58.480 --> 01:55:02.920]  we're in a bubble did I ever tell you ever about the story when I walked into
[01:55:02.920 --> 01:55:09.040]  a blockbuster one day and I was really hammering a lot of people that I know
[01:55:09.040 --> 01:55:12.080]  we I used to do a bunch of conference calls and stuff one of the things I was
[01:55:12.080 --> 01:55:16.640]  always talking about at the time was the real estate bubble one day I walked in a
[01:55:16.640 --> 01:55:20.000]  blockbuster to go get a movie and my back is turned I'm flipping through some
[01:55:20.000 --> 01:55:25.400]  movies and I hear some young man talking about I just pulled this real estate coup
[01:55:25.400 --> 01:55:31.360]  I bought a this beautiful condo it was 300 grand I got this great interest rate
[01:55:31.360 --> 01:55:35.320]  I'm thinking oh good grief man I'm in blockbuster and I got to listen to this
[01:55:35.320 --> 01:55:41.520]  crap right I turn around and I'm everybody stops talking I walk up to
[01:55:41.520 --> 01:55:45.720]  the counter and all of a sudden the little pimple-faced kid behind the
[01:55:45.720 --> 01:55:52.120]  counter starts to talk and it's the same voice of the guy who is bragging about
[01:55:52.120 --> 01:55:58.680]  the $300,000 condo I almost had a coronary right there on the spot how the
[01:55:58.680 --> 01:56:08.480]  hell does a kid working at blockbuster afford a $300,000 anything unless
[01:56:08.480 --> 01:56:15.480]  you're selling crack on the side okay I knew we're there man that's it when
[01:56:15.480 --> 01:56:21.600]  jackass at blockbuster buys a $300,000 condo there is nobody else stupid
[01:56:21.600 --> 01:56:28.360]  enough to pay more money Wow believe it or not within like six months it starts
[01:56:28.360 --> 01:56:34.240]  being set on the news right I don't hear anybody talking about precious metals
[01:56:34.240 --> 01:56:39.520]  man I don't see any of the signs I walk into my local bookstore I don't see a
[01:56:39.520 --> 01:56:44.640]  little kiosk or point-of-sale display set up there going look there's 11 books
[01:56:44.640 --> 01:56:49.240]  on how to make a million buying gold how to make a million trading silver coins
[01:56:49.240 --> 01:56:54.440]  how to pick a million dollar portfolio in the precious metals mining company
[01:56:54.440 --> 01:57:03.080]  index because we're not in a bubble yet when we're in a bubble folks you're
[01:57:03.080 --> 01:57:10.440]  gonna know it you guys not them you guys you'll know it because I don't want you
[01:57:10.440 --> 01:57:15.320]  to listen to me this is why I never begged ever don't ever tell anybody my
[01:57:15.320 --> 01:57:19.880]  last name I don't want you to know who I am I don't want you to know what I've
[01:57:19.880 --> 01:57:25.040]  done I don't want you thinking I'm your daddy or your guru or your friend I'm
[01:57:25.040 --> 01:57:30.920]  gonna bust your back okay I'm gonna make you challenge yourself I don't want you
[01:57:30.920 --> 01:57:35.040]  listening to me I want you to go do your own homework I want to pop on the radio
[01:57:35.040 --> 01:57:38.480]  once in a while reach into your brain scramble the damn thing up and make you
[01:57:38.480 --> 01:57:43.160]  go do something on your own well that's what we're that's what we're all about
[01:57:43.160 --> 01:57:47.560]  and that's what we do with our listeners too we tell all our listeners the same
[01:57:47.560 --> 01:57:52.560]  thing to research everything yourself you got to do it yourself they have to
[01:57:52.560 --> 01:57:57.360]  write their own documents same thing we've all we all have to do this
[01:57:57.360 --> 01:58:03.560]  ourselves well there is a whole boatload of stuff I was joking with Deborah on
[01:58:03.560 --> 01:58:07.280]  one of the other breaks up I have enough information here because of how long it's
[01:58:07.280 --> 01:58:13.000]  been we could probably go till dawn okay all right well Steve listen we're at the
[01:58:13.000 --> 01:58:18.960]  end of the show right now we could if you want to talk some more you're
[01:58:18.960 --> 01:58:22.800]  welcome to we can go into overtime and we'll listen if you want to talk some
[01:58:22.800 --> 01:58:27.320]  more if you need to go then we'll have you on again some of the time well I
[01:58:27.320 --> 01:58:32.160]  feel like I'm on a roll if we want to take some calls I'd be interested to
[01:58:32.160 --> 01:58:37.000]  hear what other people think besides just be babbling okay all right well
[01:58:37.000 --> 01:58:43.760]  then I'll open the phone lines and we'll go maybe like another hour if you want
[01:58:43.760 --> 01:58:49.680]  okay so I'll do that okay so we'll we're gonna limit the overtime when I
[01:58:49.680 --> 01:58:54.460]  finish this over time and over time and over time until everyone is like passing
[01:58:54.460 --> 01:58:59.440]  out we'll go another hour so callers if you'd like to come in
[01:58:59.440 --> 01:59:06.520]  activism education celebration looking for something to do this October be part
[01:59:06.520 --> 01:59:10.640]  of the largest freedom festival either side of the Mississippi the Midwest
[01:59:10.640 --> 01:59:17.160]  Liberty Fest come to the coin Illinois this October 9th and 11th festival
[01:59:17.160 --> 01:59:23.680]  includes speakers activists workshop music and great vendors bring a friend
[01:59:23.680 --> 01:59:27.440]  and tell them to bring a friend this festival is for everyone who loves
[01:59:27.440 --> 01:59:32.160]  freedom of all ages don't miss the Midwest Liberty Festival at the state
[01:59:32.160 --> 01:59:37.600]  fairgrounds in the coin Illinois October 9th 10th and 11th visit the
[01:59:37.600 --> 01:59:42.560]  website at www.midwestlibertyfest.com for all the details
[01:59:42.560 --> 01:59:49.320]  www.midwestlibertyfest.com don't let the fall blue get you down come join the fun
[01:59:49.320 --> 01:59:53.920]  tickets are going fast so don't miss out on the Midwest Liberty Fest the best
[01:59:53.920 --> 02:00:02.600]  Oktoberfest this year at www.midwestlibertyfest.com