ROL_2011-11-25_16k_Hr1-2.timecode

[00:00.000 --> 00:05.000]  This news brief brought to you by the International Newsnet.
[00:05.000 --> 00:12.000]  The drought in Somalia has eased due to rains and an increase in aid, but Kenyan troops are advancing in the south,
[00:12.000 --> 00:17.000]  and Ethiopia is considering an offensive against al-Shabab fighters.
[00:17.000 --> 00:22.000]  The UN warned recently more violence in the region would harm humanitarian efforts.
[00:22.000 --> 00:26.000]  Refugee communities in Mogadishu remain famine zones.
[00:26.000 --> 00:33.000]  Throughout the crisis, U.S. special forces and the CIA have been active, including orchestrating drone strikes.
[00:33.000 --> 00:42.000]  Rupert Murdoch's son James has resigned as director of the companies that published the UK Times, Sunday Times and The Sun.
[00:42.000 --> 00:48.000]  The news comes ahead of a B Sky B shareholder meeting amid calls Murdoch resigned from the company.
[00:48.000 --> 00:52.000]  Murdoch also quit a subsidiary News International Holdings.
[00:52.000 --> 00:59.000]  However, he remains chairman of News International and deputy chief operating officer of News Corp.
[00:59.000 --> 01:09.000]  An independent commission of inquiry has found Bahraini security forces used excessive force and tortured detainees during a crackdown last March
[01:09.000 --> 01:12.000]  on sheer-led demands for democratic change.
[01:12.000 --> 01:19.000]  The report was released Wednesday amid new protests and acts of repression in the Sunni rule's kingdom.
[01:19.000 --> 01:28.000]  In the suburbs of Manama, police used tear gas and sound bombs against demonstrators protesting police brutality.
[01:28.000 --> 01:36.000]  Police and military use of tear gas, pepper spray and other supposedly safe crowd control measures from Oakland to Cairo
[01:36.000 --> 01:41.000]  is raising some concerns about just how much damage they are doing to unarmed citizens.
[01:41.000 --> 01:46.000]  These non-lethal weapons are billed as safe alternatives to guns and batons.
[01:46.000 --> 01:49.000]  But even when used correctly, they can kill.
[01:49.000 --> 01:54.000]  Doctors in Egypt say tear gas used in Tahrir Square in recent days is toxic,
[01:54.000 --> 02:00.000]  and some of over 30 people killed in the last week likely died of asphyxiation.
[02:00.000 --> 02:07.000]  Photos of Egyptians brandishing tear gas canisters reading made in the USA have circulated around the world.
[02:07.000 --> 02:13.000]  Protesters at the University of California Davis who were shot in the face with pepper spray last week
[02:13.000 --> 02:19.000]  complained of pain and irritation in their breathing passages days later.
[02:19.000 --> 02:25.000]  A war crimes tribunal in Malaysia Tuesday found George Bush and former British Prime Minister Tony Blair
[02:25.000 --> 02:29.000]  guilty of war crimes for their roles in the Iraq war.
[02:29.000 --> 02:36.000]  The five-member tribunal decided Bush and Blair committed genocide and crimes against humanity by invading Iraq.
[02:36.000 --> 02:44.000]  The Malaysian tribunal ruled that the decision to wage war against Iraq was a flagrant abuse of law and an act of aggression
[02:44.000 --> 02:47.000]  that led to large-scale deaths of the Iraqi people.
[02:47.000 --> 03:06.000]  The judges also stated that the US under Bush fabricated documents to make it appear Iraq possessed weapons of mass destruction.
[03:06.000 --> 03:20.000]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com.
[03:20.000 --> 03:36.000]  Bad boys, what do you want, what do you want, what are you going to do, when your mission don't come for you?
[03:36.000 --> 03:54.000]  Tell me, whatcha want to do, whatcha gonna do, Yeah, bad boys, bad boys, whatcha gonna do, whatcha gonna do when it comes for you?
[03:54.000 --> 03:58.000]  Bad boys, bad boys, whatcha gonna do, whatcha gonna do when it comes for ya?
[03:58.000 --> 04:04.000]  When you were 8 and your head that trace, you'll go to school and learn the golden rule.
[04:34.000 --> 04:53.360]  BAD BOYS
[04:53.360 --> 05:00.080]  All right folks, this is Rule of Law Radio, this is out fully not for our marathon in
[05:00.080 --> 05:08.360]  November 25, 2011. We do have a guest tonight, Dr. Bill Beath. Randy, would you like to tell
[05:08.360 --> 05:10.920]  the folks what we're going to be talking to Dr. Beath about?
[05:10.920 --> 05:21.120]  Oh, Dr. Beath is our resident fiat money guy. And we're having a little trouble getting
[05:21.120 --> 05:34.160]  me in. We've had Dr. Beath on several times before. Eddie, you want to bring me in? Hold
[05:34.160 --> 05:49.840]  on, let me... My Skype is giving me a problem today. But Dr. Beath is a clinical psychologist.
[05:49.840 --> 06:00.040]  But when it comes to fiat money, he knows more about how this works than anybody. And
[06:00.040 --> 06:06.600]  as soon as we can get him in, we will go to that. I did have a little bit of news about
[06:06.600 --> 06:24.280]  my Cherokee County stuff. I had put in a couple of motions to disqualify this judge. And every
[06:24.280 --> 06:30.160]  time I did, they sent it to the head administrative judge of the district. The first time that
[06:30.160 --> 06:39.680]  judge denied the motion to disqualify, he decided to treat it as a motion to recuse
[06:39.680 --> 06:45.860]  and then deny it because it wasn't verified. Well, it wasn't a motion to recuse. It was
[06:45.860 --> 06:51.400]  a motion to disqualify. And according to the rules, a motion to disqualify cannot be
[06:51.400 --> 06:58.040]  denied because it doesn't meet rules. But he denied it anyway. So I filed a second motion
[06:58.040 --> 07:04.680]  that was verified and the judge himself denied the motion in court saying that I had filed
[07:04.680 --> 07:14.400]  one, I couldn't file another. Well, I filed an appeal to the court of appeals on that one
[07:14.400 --> 07:25.280]  because he has absolutely forbidden that, to do that by law. And while I'm waiting for
[07:25.280 --> 07:34.600]  the court of appeals to hear it, the judge is trying to have another hearing. And I filed
[07:34.600 --> 07:43.560]  a motion to recuse the judge, except this time I pulled the gloves off. This time, every
[07:43.560 --> 07:51.240]  time I indicated that the judge did something wrong, I stipulated the law that he broke
[07:51.240 --> 07:57.880]  when he did it wrong. Felony retaliation, Felony tampering with the witness, criminal
[07:57.880 --> 08:04.080]  conspiracy, official oppression, official misconduct, tampering the government document,
[08:04.080 --> 08:11.360]  just a whole list of them. Well, I suspect when he sent that one to the head administrative
[08:11.360 --> 08:16.160]  judge of the district, along with criminal accusations against the head administrative
[08:16.160 --> 08:24.000]  judge for denying the first motion, that the judge kind of got his attention and he appointed
[08:24.000 --> 08:33.360]  a judge to hear the motion. Problem. The judge he appointed was the district judge in Cherokee
[08:33.360 --> 08:45.840]  County. And they got the notice to me that this judge would hear my motion on Tuesday
[08:45.840 --> 08:57.920]  of this week, and he was scheduled to hear the motion to recuse judge Fletcher Monday.
[08:57.920 --> 09:06.680]  So that gave me one day to get in a, to do something. So I got in a motion to recuse
[09:06.680 --> 09:13.480]  the district judge because I filed a writ of habeas corpus in this matter with this
[09:13.480 --> 09:22.120]  district judge. And this district judge denied my writ. In a letter from the clerk is they
[09:22.120 --> 09:29.040]  sent my filing back saying that I couldn't file a writ of habeas corpus because the clerk
[09:29.040 --> 09:37.960]  did not maintain a miscellaneous file. So the only, what I'll tell the judge Monday is the
[09:37.960 --> 09:45.320]  only reason I haven't filed criminal charges against him for that is because of the felony
[09:45.320 --> 09:53.440]  tampering with a witness and retaliation by Fletcher for filing against him. And I have
[09:53.440 --> 10:00.840]  an emotion to recuse him claiming that the head administrative judge of the district
[10:00.840 --> 10:09.160]  is already disqualified by motion, so he can't appoint. He could only appoint another judge
[10:09.160 --> 10:15.400]  to appoint a judge to hear this, but he apparently made the appointment himself. I got the order,
[10:15.400 --> 10:23.360]  says he did. So the appointment's invalid. And even if it weren't, this judge is disqualified
[10:23.360 --> 10:29.160]  because the first set of complaints that I filed with the grand jury, including the
[10:29.160 --> 10:34.960]  guy named David Ball, who was tried by this judge, the same kind of shenanigans going
[10:34.960 --> 10:46.720]  on. So I think I got that pretty well handled there. I expect that when I go in tomorrow,
[10:46.720 --> 10:51.760]  well, they really don't have any choice. And I had a little surprise for them. It always
[10:51.760 --> 11:00.400]  helps when you read the statute a couple of times. Because right down there at the bottom,
[11:00.400 --> 11:08.560]  it said that the Chief Justice of the Texas Supreme Court could also appoint a judge to
[11:08.560 --> 11:16.080]  hear the motion. So since I've disqualified the head administrative judge of the district,
[11:16.080 --> 11:25.360]  I forwarded my motion to recuse to the Chief Justice of the Supreme Court and ask him to
[11:25.360 --> 11:32.760]  appoint a judge. I included, in the recuse of motion I filed with him, he'd included
[11:32.760 --> 11:41.440]  all the criminal accusations against the judge, the district attorney, county attorney, everybody.
[11:41.440 --> 11:47.880]  I suspect these chomps in Cherokee County are not going to be too happy with me pushing
[11:47.880 --> 11:54.960]  the Chief Justice of the Supreme Court to appoint a judge. I'm also going to push the
[11:54.960 --> 12:03.840]  Chief Justice to appoint a court of inquiry to the Institute of Court of Inquiry against
[12:03.840 --> 12:11.640]  these guys. And we'll be petitioning the Attorney General because in a new statute that just
[12:11.640 --> 12:20.560]  went in in 07 that I haven't seen, 39.015 gives the Attorney General concurrent jurisdiction
[12:20.560 --> 12:29.680]  in matters of complaints against public officials. So the statute says that he has concurrent
[12:29.680 --> 12:38.320]  jurisdiction with the permission of the prosecuting attorney, but since the prosecuting attorney
[12:38.320 --> 12:44.640]  in this case, both the district and the county are named in the complaints, they are disqualified
[12:44.640 --> 12:49.520]  and in no position to grant or deny permission. So I should be able to bring in the Attorney
[12:49.520 --> 13:00.080]  General and prosecute these guys. I haven't actually put them in prison yet. Okay, with
[13:00.080 --> 13:12.080]  all that said, Dr. V, sir, you up, can we?
[13:12.080 --> 13:15.680]  He was there just a second ago, Randy, appears to have dropped off.
[13:15.680 --> 13:22.320]  Okay, can you bring him back in? Let me see what I can do.
[13:22.320 --> 13:33.640]  I didn't initiate, so I couldn't bring him in. But anyway, so Monday should be interesting.
[13:33.640 --> 13:42.960]  They really want me in their jail, and I really want to stay out of their jail. That was not
[13:42.960 --> 13:50.480]  one of my more enjoyable experiences. And again, I do want to thank everybody for all
[13:50.480 --> 13:56.960]  the donations I got that helped me get out of there, because that's the only thing that
[13:56.960 --> 14:03.640]  give me a way to actually fight these guys. And with all the documentation I have in and
[14:03.640 --> 14:10.560]  what I'll have in by Monday, with the points and authorities to the Court of Criminal Appeal,
[14:10.560 --> 14:20.080]  I mean, to the Chief Justice of the Supreme Court, more motions for Court of Inquiry,
[14:20.080 --> 14:30.200]  and I'm looking at invoking the magisterial duty of the Supreme Court justice. That'll
[14:30.200 --> 14:38.520]  be interesting. What I said to him next will be a set of verified criminal complaints and
[14:38.520 --> 14:46.840]  insist that he could he perform his duty as a magistrate. We'll see how that works out.
[14:46.840 --> 14:56.440]  So we do have Dr. Vieth on the line now. Okay, good. And I'm going to shut up and bring
[14:56.440 --> 15:01.360]  in Dr. Vieth. Hello, Dr. Vieth. Hello, Mr. Dill. How are you? And how are you, Eddie
[15:01.360 --> 15:06.640]  Craig? I'm good. How are you this evening? I'm doing great. Thanks. Okay, we brought
[15:06.640 --> 15:14.400]  Dr. Vieth on the Friday Night Show because whenever Dr. Vieth does a show, we need four
[15:14.400 --> 15:20.880]  hours to handle all the questions. Hey, Randy. Let me interrupt you for a second. I had asked
[15:20.880 --> 15:26.040]  Debbie if it would be okay if I did like just two hours, the first two, but if you're getting
[15:26.040 --> 15:32.040]  a lot of calls, I'll stay on. Okay, yeah, you can drop off whenever Christine tells
[15:32.040 --> 15:40.480]  you that you have. No, that's as long as we're getting calls, I'll stay on. Okay. Okay. Dr.
[15:40.480 --> 15:53.080]  Vieth, I pick on him a lot. He lost Lord Oliver. That was the cat that owned the house. He
[15:53.080 --> 15:59.720]  let Dr. Vieth and Christine stay there. There was the Goddess Vieth and the Lord Oliver
[15:59.720 --> 16:09.360]  and the Butler Bill. Okay, I would like to talk about the money. The times have changed
[16:09.360 --> 16:18.880]  dramatically since we've had you on last. And besides all the talk about doom and gloom
[16:18.880 --> 16:28.600]  and the sky falling in and rushing in with tanks in the street, I think what is happening
[16:28.600 --> 16:37.200]  is precisely what you've been saying all along. It's just not happening in one day. So soon
[16:37.200 --> 16:42.760]  you come back to the break. I'm very much like to talk about what you think's going
[16:42.760 --> 16:48.280]  to happen to the money system. This is Randy, Jim Stevens, Eddie Craig, Will LaRadio. We'll
[16:48.280 --> 17:09.960]  be right back. It's the story of a lost city, lost opportunity, lost hope, a story of failed
[17:09.960 --> 17:18.720]  policies, failed leadership, a story of smooth talking politicians, games of he said, she
[17:18.720 --> 17:28.000]  said, rhetoric and division. One man has stood apart, stood strong and true, voting against
[17:28.000 --> 17:35.120]  every tax increase, every unbalanced budget, every time, standing up to the Washington
[17:35.120 --> 17:43.720]  Machine, guided by principle, Ron Paul, the one who will stop the spending, save the dollar,
[17:43.720 --> 17:52.560]  create jobs, bring peace, the one who will restore liberty. Ron Paul, the one who can
[17:52.560 --> 18:00.960]  beat Obama and restore America now. I'm Ron Paul and I approve this message. Are you being
[18:00.960 --> 18:06.320]  harassed by debt collectors with phone calls, letters or even lawsuits? Stop debt collectors
[18:06.320 --> 18:11.400]  now with the Michael Meara's proven method. Michael Meara's has won six cases in federal
[18:11.400 --> 18:16.360]  court against debt collectors and now you can win two. You'll get step-by-step instructions
[18:16.360 --> 18:21.280]  in plain English on how to win in court using federal civil rights statutes. What to do
[18:21.280 --> 18:26.640]  when contacted by phones, mail or court summons? How to answer letters and phone calls? How
[18:26.640 --> 18:31.240]  to get debt collectors out of your credit reports? How to turn the financial tables on them and
[18:31.240 --> 18:36.840]  make them pay you to go away? The Michael Meara's proven method is the solution for
[18:36.840 --> 18:42.160]  how to stop debt collectors. Personal consultation is available as well. For more information
[18:42.160 --> 18:47.280]  please visit ruleoflawradio.com and click on the blue Michael Meara spanner or email
[18:47.280 --> 18:57.360]  Michael Meara's at yahoo.com. That's ruleoflawradio.com or email m-i-c-h-a-e-l-m-i-r-r-a-s at yahoo.com.
[18:57.360 --> 19:20.440]  To learn how to stop debt collectors now.
[19:20.440 --> 19:34.840]  All right folks, we are back. This is rule of law radio. This is Friday night for our
[19:34.840 --> 19:41.320]  marathon. We do have Randy Gilman here on tonight. Everything's off. We do have a guest,
[19:41.320 --> 19:46.760]  Dr. Bill V. We are going to be talking about some currency issues considering the recent
[19:46.760 --> 19:52.680]  change in the wind of events for the economy. So Dr. V, would you like to continue?
[19:52.680 --> 20:00.040]  Sure. I didn't really have anything specifically prepared so I could answer any questions that
[20:00.040 --> 20:06.280]  you all have or any callers have. Can you kind of give everybody, we have
[20:06.280 --> 20:13.000]  a lot of people that probably haven't heard you, can you kind of give us an overview
[20:13.000 --> 20:19.160]  of fiat money, what it is, and what we can expect to happen with it?
[20:19.160 --> 20:25.800]  Okay. Well, I guess the first thing is to understand the difference between the type
[20:25.800 --> 20:34.120]  of currency system we have, which is fiat money, as opposed to real money. And history
[20:34.120 --> 20:40.120]  shows that real money has always been gold and silver coin. It's got a 6,000 year history
[20:40.120 --> 20:47.320]  of being a medium of exchange, a store of value, a unit of account, and it's the preferred
[20:47.320 --> 20:55.800]  form of money in a free market situation when governments and emperors and kings don't tell
[20:55.800 --> 21:00.600]  people that they have to use something else. But governments and emperors and kings have
[21:00.600 --> 21:07.000]  always tried to get people to use things that have no value and use it as money so that
[21:07.000 --> 21:15.560]  they can hoard the gold and silver for themselves. So even our Constitution, these parts of it
[21:15.560 --> 21:23.000]  have never been amended or have never been repealed, say that no state shall make anything
[21:23.000 --> 21:29.480]  but gold and silver coin a tender of payment and debt, and no state shall emit bills of credit.
[21:30.200 --> 21:35.640]  So that means basically, in the Constitution, there's a prohibition
[21:35.640 --> 21:41.240]  for the state to use anything but gold and silver coin, but the states don't use gold and
[21:41.240 --> 21:49.320]  silver coin. And it gives Congress the power to borrow money on the credit of the United States,
[21:49.320 --> 21:56.680]  but money is gold and silver coin. So what's going on in our system now has no constitutional
[21:56.680 --> 22:03.560]  authority. It's basically been a coup d'etat of the central bankers to demonetize gold and
[22:03.560 --> 22:11.640]  silver as our money supply and make us use legal tender paper, which is called fiat currency,
[22:11.640 --> 22:15.720]  and they've been successful in doing it basically to every country in the world.
[22:16.760 --> 22:23.800]  No country in the world uses money anymore. They all use fiat currency. Most of the countries of
[22:23.800 --> 22:30.440]  the world use it under the same umbrella of the basically the Federal Reserve, the International
[22:30.440 --> 22:37.000]  Monetary Fund, and the World Bank are the central banking system that controls the fiat currency
[22:37.960 --> 22:42.840]  for all the countries in the world, except there's a few, maybe seven or eight, that are not under
[22:42.840 --> 22:47.640]  that umbrella. And those seven or eight countries happen to be the countries that we have labeled
[22:47.640 --> 22:52.120]  the axis of evil, and they're the ones that we're always going to war against and attacking,
[22:52.120 --> 22:58.680]  because they have central banks that issue fiat currency, but those central banks are not controlled
[22:58.680 --> 23:08.840]  by the Federal Reserve. So those countries are basically North Korea, Iran, Libya, Afghanistan,
[23:08.840 --> 23:17.960]  Pakistan, Cuba, and so the countries that we're always, and Iraq used to be. Now that was the
[23:17.960 --> 23:24.680]  weapon of mass destruction when we went into Iraq. Iraq was selling its oil in currency other than
[23:24.680 --> 23:29.640]  dollars, and they were the first country to do that since the petro dollar came into existence
[23:29.640 --> 23:37.320]  in 1971. That's why we attacked Iraq. So basically the world does not use money. It uses a credit
[23:37.320 --> 23:43.320]  and debt system, and the central bankers that have no allegiance to any specific country
[23:43.880 --> 23:49.080]  issue the credit to the world and issue the debt to the world. And the problem is
[23:49.080 --> 23:57.080]  when they issue credit to the sovereign countries, they lend into circulation the principle,
[23:57.800 --> 24:03.240]  but the countries owe back the principle and the interest. But the interest was never lent into
[24:03.240 --> 24:09.080]  circulation, so there's never enough money to pay back the debt, the interest, the principle and
[24:09.080 --> 24:16.440]  the interest. So it's a system that forces continuous borrowing, continuous borrowing,
[24:16.440 --> 24:22.920]  and that borrowing creates a lot of bubbles because it's always easier to create money when
[24:23.560 --> 24:31.480]  money is just basically book entries into some bank account. Most of the money of the world is
[24:31.480 --> 24:38.360]  not even in paper or coin form. It's electronic units that are just bookkeeping entries in a
[24:38.360 --> 24:44.120]  government's bank account or a corporation's bank account. And so you can see that if you can
[24:44.120 --> 24:49.640]  create this kind of what they call money, which isn't really money, they can create infinite
[24:49.640 --> 24:55.800]  amounts because it's electronic units in an account, and they can create it for no cost.
[24:56.600 --> 25:03.080]  So anything that you can produce in infinite quantities at no cost can't possibly have any
[25:03.080 --> 25:10.680]  real value, and it can't possibly hold even an artificial value. It can't possibly hold it.
[25:10.680 --> 25:17.480]  But the way they create an artificial value for these debt instruments, these units of currency,
[25:18.200 --> 25:24.840]  is the countries tell us we have to pay our taxes in those currencies. So all of a sudden
[25:24.840 --> 25:29.800]  something that was not worth anything before, we have to run around and compete for it so we can
[25:29.800 --> 25:35.400]  pay taxes to the government in those units. And then they come in and they add another
[25:35.400 --> 25:39.640]  layer to that and say, not only do you have to pay your taxes into this, but it's going to be
[25:39.640 --> 25:45.480]  legal tender of the country. So it's not lawful money, it's legal tender. They take something
[25:45.480 --> 25:51.160]  that has no value and they give an artificial value by making us pay all our debts public and
[25:51.160 --> 25:58.440]  private in this currency. So it's like, again, I think I've given this analogy on past shows,
[25:59.160 --> 26:03.080]  if all of a sudden tomorrow the United States government said from now on you have to pay
[26:03.080 --> 26:08.600]  your taxes in popsicle sticks, all of a sudden we would run around, we'd all be collecting
[26:08.600 --> 26:12.760]  popsicle sticks instead of throwing them on the ground and we'd be competing for popsicle
[26:12.760 --> 26:18.440]  sticks so they would give artificial value to these popsicle sticks that formerly had no value
[26:18.440 --> 26:22.200]  at all. And then if they came in the next day and said, well, not only do you have to pay your
[26:22.200 --> 26:27.640]  taxes on popsicle sticks, we're going to call these popsicle sticks legal tender. They're
[26:27.640 --> 26:33.800]  accepted for all debts public and private, you have to use it. Now they would really get even
[26:33.800 --> 26:39.240]  more value to these popsicle sticks. Now if they come in the next day and say, oh, by the way,
[26:40.040 --> 26:45.800]  with these legal tender popsicle sticks, we're going to let the Federal Reserve, this private
[26:45.800 --> 26:51.240]  banking interest, we're going to let them manufacture these popsicle sticks. Now if you
[26:51.240 --> 26:57.960]  out there, Joe Q. Public, if you manufacture a popsicle stick that is exactly the same as the
[26:57.960 --> 27:05.800]  one they manufacture, same makeup, same size, same everything, if you make one up, we're going to
[27:05.800 --> 27:10.840]  call it counterfeit, but we're going to give an exclusive privilege to this little cartel of bankers
[27:10.840 --> 27:15.320]  over here to manufacture them and they're the only ones that can manufacture them. Well,
[27:15.320 --> 27:21.800]  that's totally unconstitutional too because our Constitution does not give any authority
[27:21.800 --> 27:28.280]  to anyone to have exclusivity on the money supply. You know, the people of the country,
[27:28.280 --> 27:33.640]  we're supposed to use anything we want as money. Now even if we had to pay our taxes in the currency
[27:33.640 --> 27:38.920]  of the United States to transact business with each other, we can use whatever we want according,
[27:38.920 --> 27:43.960]  you know, because the Constitution gives the government no authority to prohibit that.
[27:44.600 --> 27:50.440]  So anyway, what we've got worldwide is an artificial monetary system and I hate to
[27:50.440 --> 27:55.000]  use the word monetary because it's not money. It's a system of debt and credit. We've got a
[27:55.000 --> 28:01.640]  disartificial system where they've made our currency or the worldwide currency have no value
[28:01.640 --> 28:06.680]  at all. It would have no value other than the system they've used to give it artificial value
[28:07.320 --> 28:13.960]  and it's a system that's absolutely unsustainable. It has to collapse. I would bet everything I own
[28:13.960 --> 28:19.960]  that it will collapse. The only thing we can't predict is the time frame when. And you know,
[28:19.960 --> 28:24.520]  I'm always a little bit surprised by how long they can juggle all these balls in the air and
[28:24.520 --> 28:31.000]  keep it going a little bit longer. But as we can all see, the collapse of it is starting to
[28:31.000 --> 28:39.160]  accelerate now. It's going, I wouldn't say it's going parabolic yet, but it's starting to decline
[28:39.160 --> 28:46.040]  in a multiplicative fashion. So that's basically where we are right now and we're in the midst
[28:46.600 --> 28:52.680]  of the Titanic sinking. And of course, the bankers know this and so there's worldwide
[28:52.680 --> 28:58.280]  plunder going on right now. They're stealing everything they can like this MS Global that
[28:58.280 --> 29:03.880]  just stole Gerald Salente's money out of his segregated account and 50,000 other accounts.
[29:03.880 --> 29:09.480]  And so what you're seeing is governments plundering from the people and the bankers plundering
[29:09.480 --> 29:16.040]  from the wealth from the people worldwide. So I'll go ahead and stop there for this part and
[29:16.040 --> 29:23.160]  see if you all, if that elicits any questions. Well, I do have some questions. We're looking
[29:23.160 --> 29:30.840]  at the money system, the dollar beginning to clearly lose its value. I mean, it hasn't overnight
[29:30.840 --> 29:36.680]  just plummeted, but it is in the, in the decline. When I come back, I want to talk about what you
[29:36.680 --> 29:45.000]  expect to happen to it in the next year to two years. But in specific, I want to talk about
[29:45.560 --> 29:49.640]  the likelihood of hyperinflation. This is Randy Kelkin, Deborah Stevens, Eddie Craig,
[29:49.640 --> 29:54.520]  with our special guest, Dr. Bill Vief. We'll be right back on the other side.
[29:54.520 --> 30:05.400]  This is building seven, a 47 story skyscraper that fell on the afternoon of September 11th.
[30:05.400 --> 30:10.200]  The government says that fire brought it down. However, 1500 architects and engineers have
[30:10.200 --> 30:14.760]  concluded it was a controlled demolition. Over 6,000 of my fellow service members have given
[30:14.760 --> 30:19.480]  their lives. Thousands of my fellow first responders have died. I'm not a conspiracy theorist. I'm
[30:19.480 --> 30:22.760]  a structural engineer in the New York City correction office. I'm an Air Force pilot.
[30:22.760 --> 30:27.560]  I'm a father who lost his son. We're Americans and we deserve the truth. Go to
[30:27.560 --> 30:35.320]  rememberbuildingseven.org today. Garbage ought to be private, but a city in North Carolina
[30:35.320 --> 30:41.000]  wants to put microchips on people's trash bins to track their discards. I'm Dr. Catherine Albrecht
[30:41.000 --> 30:47.320]  and I'll have more on this green spice game in a moment. Privacy is under attack. When you give
[30:47.320 --> 30:52.680]  up data about yourself, you'll never get it back again. And once your privacy is gone, you'll find
[30:52.680 --> 30:58.680]  your freedoms will start to vanish too. So protect your rights. Say no to surveillance and keep your
[30:58.680 --> 31:04.280]  information to yourself. Privacy, it's worth hanging on to. This public service announcement
[31:04.280 --> 31:09.640]  is brought to you by StartPage.com, the private search engine alternative to Google, Yahoo,
[31:09.640 --> 31:16.920]  and Bing. Start over with StartPage. Oscar the Grouch, look out for your privacy.
[31:16.920 --> 31:22.680]  The city of Gastonia, North Carolina is about to put electronic eyes into trash cans.
[31:22.680 --> 31:29.240]  Next year, residents will receive 96-gallon recycle bins embedded with RFID radio frequency
[31:29.240 --> 31:34.280]  microchips. When trucks collect the bins' contents, the spy ships signal computers
[31:34.280 --> 31:39.480]  that those recycled materials were collected at that address. Officials say they want to identify
[31:39.480 --> 31:45.160]  the people who don't recycle so they can be educated to get with the program. I say nobody
[31:45.160 --> 31:49.720]  needs to have their trash monitored and certainly not by a spy-chipped trash bin.
[31:49.720 --> 32:18.440]  I'm Dr. Catherine Albrecht. More news and information at CatherineAlbrecht.com.
[32:18.440 --> 32:30.760]  Okay, this is Randy Kelton there. We're talking about fiat money system. There's been a lot
[32:30.760 --> 32:37.160]  of speculation about the dollar going into hyperinflation and I was talking to my son
[32:37.160 --> 32:44.840]  about that and we had an interesting question. He said, how could our dollar hyperinflate?
[32:44.840 --> 32:50.120]  What would it hyperinflate against? What would be the measure?
[32:51.160 --> 32:56.280]  So, Dr. Wietz, what is the likelihood of our dollar hyperinflating?
[32:56.920 --> 33:06.520]  Well, my opinion is the likelihood is 100% because there's only two things that can happen.
[33:06.520 --> 33:15.960]  The dollars really don't have value. They have purchasing power as long as somebody's willing
[33:15.960 --> 33:24.680]  to accept it. Hyperinflation comes at the point when nobody has confidence in that paper currency
[33:24.680 --> 33:30.680]  anymore and the paper itself is rejected and so they have to print so much of it to get people
[33:30.680 --> 33:37.480]  to take it and what happens is it's a slow process. It doesn't happen in a day. So,
[33:38.840 --> 33:45.000]  it's always easier for them to create more currency than it is for the country to produce
[33:45.000 --> 33:53.480]  more goods and services. So, you always get an inflation of the money supply because it's easier
[33:53.480 --> 34:00.040]  to do that than it is to produce more widgets. It's already happened quite a bit. I mean,
[34:00.040 --> 34:08.040]  the dollar has already lost 98% of its purchasing power since its inception. What you buy for a
[34:08.040 --> 34:15.800]  dollar today, you could buy for two cents back in 1913 and most of that loss has been just
[34:15.800 --> 34:24.280]  since 1971 because up until 1971, theoretically, the dollar was still redeemable internationally
[34:24.280 --> 34:31.560]  for gold until 1971. So, we've only been a strict fiat currency for 40 years since 1971
[34:31.560 --> 34:40.440]  and most of the loss of purchasing power has been since 1971 when the United States government
[34:40.440 --> 34:47.080]  screwed the rest of the world and defaulted on the Bretton Woods Agreement where they agreed to
[34:48.120 --> 34:52.680]  redeem dollars that were out there internationally for gold and they said,
[34:52.680 --> 34:56.680]  no, we're going to keep the gold. You just keep the claim checks on the gold and we're going to
[34:56.680 --> 35:02.520]  call it money. Now, in the United States, the dollars are legal tender. We have to use them.
[35:02.520 --> 35:07.640]  We have to pay our taxes in them. The dollars, there's about six or seven trillion dollars
[35:07.640 --> 35:13.000]  outside of the United States that the rest of the world has used since the dollar became the
[35:13.000 --> 35:19.720]  world's reserve currency in 1945 at the Bretton Woods Agreement. So, there's far more dollars
[35:19.720 --> 35:25.080]  circulating around the world than there are in the United States. Probably the amount of actual
[35:25.080 --> 35:33.000]  currency that circulates in the United States is maybe 800 billion to a trillion dollars.
[35:33.000 --> 35:40.920]  There's six or seven trillion circulating around the world. Well, when the people no longer around
[35:40.920 --> 35:47.160]  the world no longer want to spend their labor to produce goods, to ship to the United States,
[35:47.160 --> 35:52.280]  to get the more of these worthless pieces of green paper, when they don't want to trade their
[35:52.280 --> 35:56.920]  labor and their goods for paper, they're going to reject the dollar and they're not only going
[35:56.920 --> 36:02.280]  to reject it, but most of the central banks around the world hold their dollar reserves
[36:02.840 --> 36:09.560]  in United States treasury bonds. And so, once they start dumping their bonds and selling their bonds,
[36:09.560 --> 36:16.280]  all of these dollars that the rest of the world has been accumulating and using as their reserves
[36:16.280 --> 36:21.000]  since 1944, all of these are going to be repatriated back into the United States,
[36:21.000 --> 36:26.200]  because they don't have to use them. We have to use them in the United States because of the legal
[36:26.200 --> 36:31.080]  tender laws. So, when they start selling their key bonds and unloading and getting rid of their
[36:31.080 --> 36:35.400]  paper dollars, they're going to flood back into the United States and that's going to start the
[36:35.400 --> 36:42.440]  hyperinflationary process. But not only that, the hyperinflationary process is already in progress
[36:42.440 --> 36:48.840]  because when the United States government, when our treasury department issues new
[36:48.840 --> 36:54.520]  key bonds to fund our government, see, most of our taxes don't go to fund our government.
[36:54.520 --> 37:00.680]  They go to pay the interest on the national debt. So, what funds our government is more
[37:00.680 --> 37:06.280]  borrowing when our government borrows more. Well, other countries now are not buying our bonds.
[37:06.280 --> 37:12.200]  They're not lending money to us nearly as much as they once did. So, what's happening
[37:12.200 --> 37:18.840]  is the Federal Reserve is having to buy the Treasury bonds. So, when the Federal Reserve buys
[37:18.840 --> 37:25.960]  the bonds, they print the money out of thin air and that's inflationary too. Now, the Federal
[37:25.960 --> 37:32.280]  Reserve doesn't really buy them directly. The key bonds are sold to what are called primary dealers,
[37:32.280 --> 37:37.800]  which are banks all over the world, not just in the United States. There's a list of certain banks
[37:37.800 --> 37:43.160]  that are called primary dealers. They normally buy the Treasury bonds from our government
[37:43.160 --> 37:48.680]  and then the Federal Reserve, if they buy them, they buy them from these primary dealers instead
[37:48.680 --> 37:55.240]  of directly from our Treasury department. It's just a ruse. But anyway, I don't want to get too
[37:56.200 --> 38:02.040]  complex with all this, but what's happening is other countries are not buying our bonds like
[38:02.040 --> 38:08.920]  they once did. So, the Federal Reserve is buying more of them and they're having to create the
[38:08.920 --> 38:15.240]  money out of thin air to buy the bonds, which is putting more money into circulation. Now,
[38:16.200 --> 38:22.120]  that causes the purchasing power of the existing dollars to go down. It's the same thing if you
[38:23.000 --> 38:29.160]  consider, if you look at the dollars that are in circulation, if you look at that as stock,
[38:29.160 --> 38:38.280]  stock certificates in a company. Let's say I have a company and the value of that company is
[38:38.280 --> 38:45.320]  measured in 100 shares of stock. If I overnight print up another 100 shares of stock, I didn't
[38:45.320 --> 38:51.480]  double the value of my company. I just diluted the purchasing power, the value of the existing
[38:51.480 --> 38:58.040]  stock by 50%. So, when the United States or any other country prints more money,
[38:58.040 --> 39:03.560]  they're just diluting the purchasing power of the existing money. They're not raising the value of
[39:03.560 --> 39:11.080]  anything. So, that's what's happening. I wouldn't call it hyperinflation yet. The inflationary
[39:11.080 --> 39:18.440]  process is accelerating now. Now, the reason it's going in slow motion is because there's
[39:18.440 --> 39:25.800]  what, 200 countries in the world and 192 of them, let's say, are all working in concert with each
[39:25.800 --> 39:31.640]  other. They're all doing the same thing. The central banks are printing the money out of thin
[39:31.640 --> 39:40.120]  air and lending the debt, lending it to the sovereign governments. So, what we have worldwide
[39:40.680 --> 39:50.280]  is we have competing currencies. But as perversive it sounds, every country is trying to devalue its
[39:50.280 --> 39:59.800]  currency more than other countries so that they can sell their, export their items and get money
[39:59.800 --> 40:04.760]  from their items if their items are too expensive, people from other countries won't buy them. So,
[40:04.760 --> 40:10.120]  we have competitive currency devaluation all over the world. Everybody's trying to make their
[40:10.120 --> 40:16.440]  currency lower than everybody else. I mean, our country is accusing China of currency manipulation
[40:16.440 --> 40:22.520]  because they won't devaluate their yuan as much as we want them to. And so, it's very perverse
[40:22.520 --> 40:29.880]  because if you're using real money, gold and silver, you want the gold to buy as much goods
[40:29.880 --> 40:36.360]  and services as possible, not fewer goods and services. So, what we've had is we've had the
[40:36.360 --> 40:43.960]  central bankers literally reverse the polarity of reality. What was once up is now down. What was
[40:43.960 --> 40:48.840]  once good is now evil. What was once evil is now good. And literally, we've got an upside down world
[40:48.840 --> 40:53.720]  and it can't last. Did all that make sense? I'm not sure if I explained it very well.
[40:54.680 --> 41:04.920]  Yes, it did. How long do you think we have before this begins to, before we, the individuals,
[41:04.920 --> 41:11.960]  start feeling this out of control? Well, I think a certain sectors are already feeling it out of
[41:11.960 --> 41:17.960]  control. They're, for example, the unemployment rate in the United States is way, way higher
[41:17.960 --> 41:22.600]  than the official statistics. All these people that are losing their jobs, they're already feeling
[41:22.600 --> 41:35.080]  it. These so-called riots around the world, those are basically austerity riots. Those
[41:35.080 --> 41:40.200]  governments, these people don't have the money and the standard of living that they once had.
[41:40.200 --> 41:43.880]  And some of them are even food riots. I mean, there are people that aren't getting enough food
[41:43.880 --> 41:48.360]  now in some of these countries. You've heard a lot of what happened in Egypt.
[41:48.360 --> 41:53.160]  Sure. Our media is making it sound like it's just political stuff. It's not. These people,
[41:53.160 --> 41:59.480]  some of them can't eat. They can't get enough money to eat. And so, they're seeing their entire
[41:59.480 --> 42:04.600]  standard of living, which wasn't nearly as high as the United States standard of living. They're
[42:04.600 --> 42:11.880]  seeing it drop. And so, and they're seeing the bankers and certain elites that run their countries
[42:11.880 --> 42:15.960]  getting richer and richer while they're getting poorer and poorer. And in this country, we've
[42:15.960 --> 42:22.920]  already lost a huge portion of our middle class. And, you know, I started, when I started coming
[42:22.920 --> 42:28.280]  on these types of internet radio shows five, six years ago, that was the main thing I was saying
[42:28.280 --> 42:35.800]  is we are going to lose our middle class. And we are. And we're still going to. And, you know,
[42:35.800 --> 42:41.720]  there's going to be a lot more suffering to come. But see what happens is, as the inflation
[42:43.400 --> 42:49.320]  takes hold, people start rejecting the paper. They don't want the paper anymore because,
[42:50.280 --> 42:54.360]  you know, it can't buy them the goods and services they need. It's not a store of value.
[42:54.360 --> 43:02.040]  So, when they start rejecting the paper, then you start having shortages of supplies, even food,
[43:02.040 --> 43:08.120]  because what farmer wants to spend his whole life producing food to ship it out to people
[43:08.120 --> 43:13.480]  to get that worthless paper? So, as the paper becomes more and more valueless, it becomes
[43:13.480 --> 43:19.080]  rejected more and more. And so, no matter how much paper you have, you can't get people to give
[43:19.080 --> 43:24.760]  up their goods and services. It's just like, I think the day is going to come when, you know,
[43:25.720 --> 43:31.480]  even today, the price of gold and silver is manipulated and there's a paper market out there
[43:31.480 --> 43:36.600]  that sets the price. The day is going to come when there's going to be a no offer on the physical.
[43:36.600 --> 43:40.360]  Anybody that's holding physical gold and silver, they're not going to offer it for any paper price.
[43:42.360 --> 43:46.680]  I'm looking forward to that. And that's something I wanted to get to when we come back.
[43:46.680 --> 43:52.120]  Now, this is Randy Calvin Davis, David Crate, here's my radio. Dan, I see you there. We'll get
[43:52.120 --> 43:55.400]  you when we come back on the other side. We'll be right back.
[44:01.640 --> 44:05.720]  The Oakland City bombing, top 10 reasons to question the official story.
[44:05.720 --> 44:10.760]  Reason number two, why was the ATF AWOL? Paramedic Tiffany Bible,
[44:10.760 --> 44:14.360]  who's on the scene within five minutes, has stated in an effort, David,
[44:14.360 --> 44:18.600]  that agents of the Bureau of Alcohol, Tobacco and Firearms, told her that they were not in
[44:18.600 --> 44:23.160]  their office that night. EMT Catherine Mount also overheard one agent say to another,
[44:23.160 --> 44:27.880]  close, is that why we got the page to not come in today, end quote. Bruce Shaw,
[44:27.880 --> 44:33.560]  as interviewed on KFLOR TVs, was also told by ATF agents that they had been paged to not come into
[44:33.560 --> 44:39.240]  work. The ATF initially denied these claims and now variously claim that one of their agents was
[44:39.240 --> 44:43.000]  in a free falling elevator, which has been disproven, or that they'd been in an all night
[44:43.000 --> 44:47.800]  stick out, or that they'd been at a golf tournament. As they try to sort out their lives,
[44:47.800 --> 44:51.800]  all we want to know is, did the ATF receive a warning, and if so,
[44:51.800 --> 44:58.600]  why did they not pass it on to others and memorials? For more information, go to OJCBombingTruth.com.
[45:00.920 --> 45:03.400]  Are you the plaintiff or defendant in a lawsuit?
[45:04.040 --> 45:08.280]  Win your case without an attorney with Jurisdictionary, the affordable,
[45:08.280 --> 45:14.680]  easy to understand four CD course that will show you how in 24 hours, step by step.
[45:15.320 --> 45:20.600]  If you have a lawyer, know what your lawyer should be doing. If you don't have a lawyer,
[45:20.600 --> 45:25.880]  know what you should do for yourself. Thousands have won with our step by step course,
[45:25.880 --> 45:30.920]  and now you can too. Jurisdictionary was created by a licensed attorney
[45:30.920 --> 45:36.280]  with 22 years of case winning experience. Even if you're not in a lawsuit,
[45:36.280 --> 45:40.840]  you can learn what everyone should understand about the principles and practices
[45:40.840 --> 45:46.520]  that control our American courts. You'll receive our audio classroom, video seminar,
[45:46.520 --> 45:54.920]  tutorials, forms for civil cases, prosa tactics, and much more. Please visit ruleoflawradio.com
[45:54.920 --> 46:07.960]  and click on the banner or call toll-free 866-LAW-E-Z.
[46:24.920 --> 46:53.960]  Okay, we're back.
[46:53.960 --> 47:07.640]  We are talking to Dr. Bill V, and we have Dan from Connecticut. Dan, what do you have for us today?
[47:08.760 --> 47:15.240]  Well, a slightly different angle, which I hate to say it, but a lot of the peterships of the
[47:15.240 --> 47:20.680]  world haven't considered it yet, and it wasn't really until recently that I kind of thought it
[47:20.680 --> 47:28.200]  and assimilated it into the understanding. Yes, basically, the definition of money given
[47:28.200 --> 47:35.800]  before a medium of exchange of store value, that's true. Unfortunately, what happens every
[47:35.800 --> 47:40.920]  time we swipe that Visa card? We get new money in the system, so it's essentially,
[47:41.640 --> 47:46.680]  we've got a backwards scenario where credit is actually functioning like money. But hearing
[47:46.680 --> 47:52.840]  lies the real problem. Basically, even in this backward system that we have that really, I
[47:52.840 --> 48:00.120]  argue, ought not to exist, banks are supposed to have at least adequate reserves to back it up.
[48:00.120 --> 48:05.880]  The only way that fraction reserve lending could actually work is if you have $1 of capital or
[48:05.880 --> 48:11.400]  $1 reserves to actually lend out for every dollar that you lend out. But obviously,
[48:11.400 --> 48:18.680]  it's not working that way. Instead of letting the big banks blow up, I think as you guys have
[48:18.680 --> 48:24.920]  seen with the mortgage scenario, they're essentially just allowing banks to, well, why?
[48:26.760 --> 48:31.560]  What's been happening is you probably notice that people that haven't been paying their mortgage
[48:31.560 --> 48:36.600]  for a year, maybe even two years, the reason they're doing that, the reason the banks are letting
[48:36.600 --> 48:40.520]  them not pay their mortgage is because if they foreclose, they actually have to take the loss
[48:40.520 --> 48:47.960]  of their books. So really, it's looking to me like we have two dangers here. And I know what
[48:47.960 --> 48:53.240]  the Federal Reserve is doing. They're basically trying to juice the system. You could kind of
[48:53.240 --> 49:00.840]  think of it as if Ben Bernanke is this weird doctor. He's trying to give a heart attack victim
[49:00.840 --> 49:06.360]  speedballs to make him awake again. But the problem is you can only do that so long and you
[49:06.360 --> 49:13.000]  don't know it's too late until, well, basically too late has already happened. You guys may have
[49:13.000 --> 49:19.400]  heard of this, but I guess Bank of America managed to somehow, with somebody's okay,
[49:19.400 --> 49:27.720]  put $78 trillion in toxic derivatives into FDIC-insured institutions. So yes, do we have
[49:27.720 --> 49:33.240]  inflation? Sure. But the problem is the reason we have the inflation, it is nothing to do.
[49:33.240 --> 49:38.280]  Well, it's partially us that do with maintaining our current government level of spending. But
[49:38.280 --> 49:42.440]  most importantly, they're hoping that they can inflate their way out of this problem.
[49:43.560 --> 49:49.080]  Yes, we do have $78 trillion overseas. Unfortunately, we have far more many
[49:49.080 --> 49:56.520]  trillions in derivatives of that debt. So I see two alternative scenarios. One,
[49:56.520 --> 50:02.200]  one I'd probably assign more likelihood than the other. The first scenario, yes, hyperinflation
[50:02.200 --> 50:07.800]  totally could happen. It's probable, I think. But I think what's more probable
[50:08.360 --> 50:14.680]  is that all of this debt starts unwinding like just relatively too quickly. The unfortunate part
[50:14.680 --> 50:19.480]  about where we are is they shouldn't let the banks go belly up in 2008. They should have just
[50:19.480 --> 50:24.920]  cleared the bad debt out of the system. But unfortunately, they've tried to juice it.
[50:24.920 --> 50:31.160]  And now you have this interesting problem where not only a lot of the assets, let's just call
[50:31.160 --> 50:35.720]  them mortgages because that's what they are. Not only a lot of the assets questionable, but
[50:35.720 --> 50:40.920]  they've basically been chopped up, sold, tied into other things like teachers' pension funds,
[50:41.480 --> 50:46.840]  like firefighters' pension funds, like the police pension funds. All sorts of wonderful
[50:46.840 --> 50:53.480]  things going on. But I'd like Dr. Vief to comment on that aspect of it too as well.
[50:55.080 --> 50:58.600]  Well, you're probably happy to. No, I don't disagree with anything you've said.
[50:58.600 --> 51:06.680]  I mean, all of the lending that's gone on and the fractional reserve banking,
[51:06.680 --> 51:12.440]  all of the derivatives, these are all paper instruments. I mean, they have no value
[51:12.440 --> 51:18.920]  in and of themselves. The only relative value they have is if somebody's willing to buy them
[51:18.920 --> 51:26.520]  or take them. The problem is when the paper gets rejected, everything, you know, all those
[51:26.520 --> 51:33.320]  paper assets and financial assets, no matter what currency they're denominated in, they all get
[51:33.320 --> 51:39.640]  rejected. And so what I think what's going to happen eventually is that all of the paper is
[51:39.640 --> 51:45.480]  going to get rejected. No matter what you call it, a derivative, a Federal Reserve note, a euro,
[51:45.480 --> 51:52.120]  a yen, a yuan, a bond, they're all going to get rejected because they have no value. It's a system
[51:52.120 --> 51:57.400]  that's unsustainable. And probably even when people purchase commodities, they're not going to buy
[51:57.400 --> 52:02.680]  the futures contracts anymore. They're going to say, you ship me the commodity and I'll give you,
[52:02.680 --> 52:08.200]  I'll pay you, whether it's barter or whatever you'll accept, I'll pay you. It's a cash and carry deal
[52:08.200 --> 52:13.080]  because they're not going to trust the clearinghouses to close anymore with the paper. Just like MF
[52:13.080 --> 52:19.960]  Global, they couldn't close their deals. They ran out of money, so they stole money out of individual
[52:19.960 --> 52:26.040]  segregated accounts and sent that money somewhere and then declared bankruptcy. It's the same thing
[52:26.040 --> 52:30.680]  as if you have your money in a bank and the bank just takes the money out of your account and
[52:30.680 --> 52:35.720]  everybody else's account and just steals it. And then the regulators, the Chicago Mercantile
[52:35.720 --> 52:41.960]  Exchange was supposed to be regulating MF Global. They're supposed to guarantee those funds and
[52:41.960 --> 52:47.720]  back it and they're not doing it. So who's going to put money, what citizens are going to put money
[52:47.720 --> 52:53.800]  into financial assets anymore when they can't trust them? Every piece of paper, no matter what you
[52:53.800 --> 53:00.520]  call it, has counterparty risk. It has no value in and of itself. The only value is if a third
[53:00.520 --> 53:05.720]  party or a counterparty pays you something of value, gold, silver, or the commodity that you
[53:05.720 --> 53:11.080]  bought or whatever is backing that paper. Well, there's going to be a rejection of all the paper
[53:11.080 --> 53:19.080]  worldwide, eventually, in my opinion. We're going to have to go back to something or using
[53:19.080 --> 53:23.880]  gold and silver as money or something of tangible value as money and we're probably going to wipe
[53:23.880 --> 53:30.360]  out just default on all the debt because the debt is to the bankers. If we default on the debt to
[53:30.360 --> 53:36.120]  the bankers, that doesn't really hurt us. That hurts the bankers and who cares? Through all
[53:36.120 --> 53:41.640]  their speculating on derivatives and all the things they've done to us over the years,
[53:41.640 --> 53:50.200]  they need to go bust. That's all misplaced capital. Anyway, that's my response to what
[53:50.200 --> 53:56.360]  you just said. I'm not sure if it answered your question. I was also thinking really
[53:56.360 --> 54:02.520]  two things when you were saying that. Specifically, the first is social security. I point out to
[54:02.520 --> 54:08.360]  people, look, social security is gone. You are not going to get it. If you are older than 50,
[54:08.360 --> 54:14.440]  you are effed. That's the most polite, accurate way to put it. People say, oh, well, look,
[54:14.440 --> 54:20.360]  we've got these social security bonds. I say, well, what's a bond? It's an IOU. In order to
[54:20.360 --> 54:26.920]  continue paying benefits, what have they been doing? It's the equivalent of say general motors
[54:27.480 --> 54:32.120]  going into the retirement fund and saying, we can't make payroll this week. We're going to
[54:32.120 --> 54:36.040]  take some of this money out of the pension fund and we're going to replace it with our corporate
[54:36.040 --> 54:41.640]  paper. Well, the problem comes when people look at you trying to sell bonds, call them social
[54:41.640 --> 54:47.000]  security bonds or corporate paper or whatever, and then you say, hey, buy this. They say it's
[54:47.000 --> 54:51.560]  used dog food. One or two things that's going to happen with that. One, they're going to look for
[54:51.560 --> 54:57.800]  an obscenely high rate of interest on it because otherwise they won't buy it. Of course, interest
[54:57.800 --> 55:02.280]  rates, I don't care who you're talking to at the end of the day, no matter what the situation is.
[55:02.280 --> 55:08.360]  Interest is a function based on risk and your ability to pay. Let's just say we get off easy
[55:09.160 --> 55:14.440]  and we do the right thing. I think the U.S. interest rate on the debt service is probably
[55:14.440 --> 55:19.480]  going to go to 12% if we're lucky. Of course, that had just doubled over five years. Of course,
[55:19.480 --> 55:25.000]  interest as an exponential function is just ugly. A lot of people with credit cards know this.
[55:25.000 --> 55:30.600]  The second thing I was actually thinking of is China isn't an interesting situation where
[55:30.600 --> 55:35.000]  they've got their hands in our pants and ours in theirs. Now, they haven't been buying our bonds.
[55:35.000 --> 55:41.080]  It's been done through the primary dealer system, but if they dump their bonds suddenly, then basically
[55:41.080 --> 55:45.000]  we wipe out their economy and they go bye-bye because there's no more market for their slave
[55:45.000 --> 55:50.840]  goods. With that said, I'm going to let you guys get out of the show and things are coming on.
[55:50.840 --> 55:57.080]  Interesting as always. Thanks for those comments. Again, I agree with everything the gentleman
[55:57.080 --> 56:03.400]  just said, but the problem is interest rates are so low on bonds now, they can't go lower.
[56:03.400 --> 56:08.520]  There's nothing they can do. Now, if anybody starts raising the interest rate on bonds,
[56:08.520 --> 56:13.400]  which they're going to have to eventually if they want to continue to sell their bonds,
[56:14.600 --> 56:20.200]  then it's going to collapse the bond market. The bond market is the hugest market in the world
[56:20.200 --> 56:27.160]  because bonds are the debt that all the government's issue. Corporate debt and public debt are all
[56:27.160 --> 56:32.520]  done through bonds. When the bond market collapses, that's when the paper currency system is over.
[56:32.520 --> 56:37.800]  That's when the credit debt system is over. As the interest rates go up, it will collapse it
[56:37.800 --> 56:43.640]  because that's the problem. You can't pay back the principal and interest in any of these countries
[56:43.640 --> 56:50.200]  because over time, as the debt accumulates and accumulates and accumulates, eventually, it collapses
[56:50.200 --> 56:55.480]  of its own weight. It's just like if you to simplify it, let's say I give a credit card
[56:55.480 --> 57:01.160]  to somebody and I say, here, you can use this credit card to buy anything you want and you
[57:01.160 --> 57:06.120]  don't even have to ever pay me back the principal. Just pay me back the 6% interest on whatever you
[57:06.120 --> 57:11.160]  charge. Well, for a time, that person's going to look very prosperous because he can go out and buy
[57:11.160 --> 57:15.480]  a house on the credit card. He can buy a boat. He can buy all kinds of things. All he's paying
[57:15.480 --> 57:22.600]  me back is the 6%. Well, over time, if he spends enough of it, eventually, he can't even pay me
[57:22.600 --> 57:28.360]  back the 6% interest. That's when the game's over. That's what's happening all around the world.
[57:29.320 --> 57:35.960]  Isn't it interesting that it's happening in every country at the same time? That's why it shows that
[57:35.960 --> 57:43.160]  there is a group of international bankers that literally controls not only the world's monetary
[57:44.200 --> 57:49.560]  system, but they control it for every individual country. Otherwise, why would it all be happening
[57:49.560 --> 57:54.440]  at the same time? It's because the same international bankers that control the credit system of the
[57:54.440 --> 58:00.440]  world, they're all interlinked with every country. When we get a collapse, it's going to be like a
[58:00.440 --> 58:08.760]  set of dominoes. Ireland was bankrupt or Iceland. Greece is going to go bankrupt. Next, it'll probably
[58:08.760 --> 58:15.320]  be Italy or Portugal or Spain. One by one, they all start to collapse, but then as each domino
[58:15.320 --> 58:21.640]  falls, it pushes the other dominoes more and more and more. Eventually, the entire world's credit
[58:21.640 --> 58:26.760]  system collapses because they're all interlinked. It's all paper, and paper has no value. I don't
[58:26.760 --> 58:34.040]  care if you call it an IRA or a 401K or a bond or a stock certificate or a Federal Reserve note,
[58:34.040 --> 58:41.000]  it is a piece of paper that has no value. It only has some purchasing power as long as the next
[58:41.000 --> 58:46.600]  person is willing to accept it. But the problem is... Hold on, Dr. Gates, we better go to break.
[58:46.600 --> 58:53.480]  We're going to our top of the hour break. Our phone lines are open. 512-646-1984. Give us a call.
[58:53.480 --> 59:02.760]  We'll be right back on the other side. Would you like to make more definite progress in your
[59:02.760 --> 59:09.080]  walk with God? Bibles for America is offering a free study Bible and a set of free Christian
[59:09.080 --> 59:13.960]  books that can really help. The New Testament recovery version is one of the most comprehensive
[59:13.960 --> 59:19.240]  study Bibles available today. It's an accurate translation, and it contains thousands of foot
[59:19.240 --> 59:24.600]  notes that will help you to know God and to know the meaning of life. The free books are a three
[59:24.600 --> 59:30.440]  volume set called Basic Elements of the Christian Life. Chapter by chapter, Basic Elements of the
[59:30.440 --> 59:36.520]  Christian Life clearly presents God's plan of salvation, growing in Christ, and how to build
[59:36.520 --> 59:42.360]  up the church. To order your free New Testament recovery version and Basic Elements of the
[59:42.360 --> 59:55.800]  Christian Life, call Bibles for America toll-free at 888-551-0102. That's 888-551-0102. Or visit us
[59:55.800 --> 01:00:05.240]  online at bfa.org. This news brief brought to you by the International Newsnet. Clashes between
[01:00:05.240 --> 01:00:11.720]  Egyptian security forces and protesters demanding an end to military rule extended into a fifth day
[01:00:11.720 --> 01:00:17.000]  in Cairo Wednesday. Thousands of demonstrators filled Tahrir Square chanting against Field
[01:00:17.000 --> 01:00:23.080]  Marshal Mohammed Hussein Tantawi amid thick clouds of tear gas. Tantawi said Tuesday the
[01:00:23.080 --> 01:00:26.680]  military would hand over power in July and threatened demonstrators.
[01:00:28.440 --> 01:00:35.080]  Barack Obama was heckled Tuesday in New Hampshire during a speech about the state of the U.S. economy.
[01:00:35.080 --> 01:00:39.000]  As Obama began, activists drowned out his remarks, chanting, quote,
[01:00:39.000 --> 01:00:44.360]  over 4,000 peaceful protesters have been arrested while banksters continue to destroy
[01:00:44.360 --> 01:00:48.600]  the American economy. It's not the first time the president has been interrupted.
[01:00:48.600 --> 01:00:53.240]  In recent months, he was heckled during speeches in San Francisco and West Hollywood.
[01:00:54.840 --> 01:01:00.600]  The Pew Forum on Religion and Public Life said this week the religious lobby is on the rise. In
[01:01:00.600 --> 01:01:07.000]  1970, fewer than 40 groups were involved with lobbying. That number has risen to more than 200.
[01:01:07.000 --> 01:01:12.600]  Pew estimated religious groups currently spend nearly $400 million a year to influence Congress.
[01:01:14.520 --> 01:01:20.520]  The Obama administration's recent decision to delay approval of the Keystone XL Pipeline
[01:01:20.520 --> 01:01:26.280]  until after the election has triggered a hunt for alternate routes for piping Canadian tar
[01:01:26.280 --> 01:01:33.240]  sands oil to U.S. refineries. Last week, Canadian firms bought thousands of miles of existing pipeline
[01:01:33.240 --> 01:01:38.360]  in the Midwest in a move to get oil flowing to Texas Gulf Coast refineries,
[01:01:38.360 --> 01:01:42.600]  but still not enough to accommodate the volume of crude oil being produced.
[01:01:42.600 --> 01:01:46.920]  A second alternative involves piping tar sands oil west of Vancouver,
[01:01:46.920 --> 01:01:51.800]  where it would be transferred to tankers. California would be key to this plan.
[01:01:51.800 --> 01:01:56.920]  Craig Parris, senior scientist with communities for a better environment, said quote,
[01:01:56.920 --> 01:02:01.880]  California is the prize. It's where the Canadian tar sands industry is going.
[01:02:01.880 --> 01:02:06.040]  They have this gigantic reserve of dirtier oil they want to exploit,
[01:02:06.040 --> 01:02:09.160]  sitting above the best refining country in the world.
[01:02:10.920 --> 01:02:18.760]  Drug giant Merck will pay $321 million in criminal fines and $628 million in a civil settlement
[01:02:18.760 --> 01:02:23.000]  over the company's marketing tactics of their painkiller Vioxx.
[01:02:23.000 --> 01:02:27.640]  Merck will also plead guilty to false advertising and deceptive marketing tactics
[01:02:27.640 --> 01:02:33.240]  by marketing Vioxx as a treatment for rheumatoid arthritis, all without FDA approval.
[01:02:33.240 --> 01:02:38.760]  Critics say Vioxx has a dangerous history with problems revolving around the drug for many years.
[01:02:38.760 --> 01:02:46.520]  In 2004, Merck was forced to pull Vioxx off the market due to its link with over 27,000 heart attacks
[01:02:46.520 --> 01:02:51.720]  and sudden cardiac death. This happened after Vioxx had been approved for five years,
[01:02:51.720 --> 01:02:55.480]  showing either the company failed to make these problems evident through studies,
[01:02:55.480 --> 01:02:58.120]  or problems with Vioxx were knowingly hidden.
[01:03:25.640 --> 01:03:33.640]  It's all according to the will of the Almighty
[01:03:36.760 --> 01:03:38.680]  I read his book and it says,
[01:03:38.680 --> 01:03:41.480]  the cares come for the unsightly
[01:03:44.040 --> 01:03:46.920]  These warm arms will come by that term, right?
[01:03:46.920 --> 01:04:02.360]  Okay, we're back. I want to count the spezie!
[01:04:02.360 --> 01:04:12.840]  For the craig Lola radio! We're talking about money and body's money,
[01:04:12.840 --> 01:04:17.760]  And I wanted to go to Winnerty.
[01:04:17.760 --> 01:04:23.840]  The dollar is turning into something less than toilet paper, and we've seen this happen
[01:04:23.840 --> 01:04:26.520]  in other countries.
[01:04:26.520 --> 01:04:27.960]  What do we do instead?
[01:04:27.960 --> 01:04:31.680]  What about gold and silver?
[01:04:31.680 --> 01:04:38.320]  And we were discussing gold and silver on the break about a number of states have proposals
[01:04:38.320 --> 01:04:47.640]  to render gold and silver legal tender by way of its specie, but I'd like you to discuss
[01:04:47.640 --> 01:04:49.640]  the ramifications of that.
[01:04:49.640 --> 01:04:51.240]  What do you think, Dr. Keith?
[01:04:51.240 --> 01:04:52.240]  Okay.
[01:04:52.240 --> 01:04:57.360]  Well, I think it's a great idea, and I think the states have to do something like that
[01:04:57.360 --> 01:05:01.360]  because the states can't print and issue currency.
[01:05:01.360 --> 01:05:03.880]  They're prohibited from it.
[01:05:03.880 --> 01:05:12.080]  The Constitution says only gold and silver coin can be used as money in the states, and
[01:05:12.080 --> 01:05:15.120]  the states are prohibited from emitting bills of credit.
[01:05:15.120 --> 01:05:22.840]  So if the states can't get enough money from the federal government, which they can't anymore,
[01:05:22.840 --> 01:05:28.200]  all the states are operating at deficits, and a lot of the states are probably close to
[01:05:28.200 --> 01:05:33.040]  going bankrupt, and if they can't get enough Federal Reserve notes, they can't get enough
[01:05:33.040 --> 01:05:37.880]  taxes in Federal Reserve notes from the citizens of the state, they're going to go bankrupt,
[01:05:37.880 --> 01:05:42.320]  so they don't have much to do except become a bigger slave to the federal government,
[01:05:42.320 --> 01:05:49.840]  which has already been happening, or to initiate some other type of a monetary system.
[01:05:49.840 --> 01:05:57.120]  So some states are, and I think Utah led the way, making gold and silver legal tender
[01:05:57.120 --> 01:06:04.800]  within the state, which is fine except that the problem I see is the federal government
[01:06:04.800 --> 01:06:10.800]  is still going to go in, they're going to get IRS to go in and charge people Federal
[01:06:10.800 --> 01:06:13.880]  taxes on any profits that were made.
[01:06:13.880 --> 01:06:18.160]  In other words, they're going to say, well, if you, when you acquired the silver, citizen
[01:06:18.160 --> 01:06:24.520]  of Utah, when you acquired that silver two years ago, you bought it for $20 an ounce.
[01:06:24.520 --> 01:06:29.720]  Now if you just sold it for $40 an ounce in Federal Reserve notes, you've made a profit
[01:06:29.720 --> 01:06:34.320]  and we're going to charge you capital gains, so just because the state of Utah is not going
[01:06:34.320 --> 01:06:38.760]  to charge you a capital gain on that transaction, we are.
[01:06:38.760 --> 01:06:45.880]  And so there's still the problem with the federal government makes us use Federal Reserve
[01:06:45.880 --> 01:06:50.040]  notes as legal tender, and that's private script.
[01:06:50.040 --> 01:06:55.560]  It's not public money, see, if the Treasury Department of the United States issues United
[01:06:55.560 --> 01:06:59.280]  States notes, that's public money.
[01:06:59.280 --> 01:07:02.000]  Federal Reserve notes is private money.
[01:07:02.000 --> 01:07:08.760]  And so the Federal Reserve, when we pay taxes, IRS taxes, we are paying rent to the Federal
[01:07:08.760 --> 01:07:12.440]  Reserve for renting their private script.
[01:07:12.440 --> 01:07:17.720]  But we don't have an alternative because the government came in with unconstitutional laws
[01:07:17.720 --> 01:07:23.120]  and said that's legal tender, that's what you have to pay your federal taxes in.
[01:07:23.120 --> 01:07:28.000]  So they made us all run around, again, like I said earlier, and compete for this private
[01:07:28.000 --> 01:07:32.200]  script to pay our taxes, and they call it legal tender.
[01:07:32.200 --> 01:07:35.160]  And so we have to use it.
[01:07:35.160 --> 01:07:38.600]  We have to use it because we've got to pay our federal taxes in it.
[01:07:38.600 --> 01:07:46.200]  So the use of gold and silver within states is a great start, and it'll help people understand
[01:07:46.200 --> 01:07:51.600]  the difference between public money and real money and this private script called Federal
[01:07:51.600 --> 01:07:52.920]  Reserve notes.
[01:07:52.920 --> 01:07:59.240]  And so I think it's the beginning of the kind of monetary revolution that we need, but there's
[01:07:59.240 --> 01:08:00.520]  still going to be problems.
[01:08:00.520 --> 01:08:04.680]  It's not an immediate solution because we still got problems with the federal government
[01:08:04.680 --> 01:08:12.400]  trying to charge tax on anything we use when we use Federal Reserve notes to acquire anything.
[01:08:12.400 --> 01:08:18.720]  Now, we pay our taxes, that's just rent that the Federal Reserve is using because they're
[01:08:18.720 --> 01:08:21.240]  charging us to rent their private script.
[01:08:21.240 --> 01:08:30.640]  Well, what if, I thought about this before, what if we didn't use the money at all, use
[01:08:30.640 --> 01:08:39.840]  script at all, that I have this business that's helping people with foreclosure, and I had
[01:08:39.840 --> 01:08:47.360]  talked to Capital Coin and Bullion, I wanted him to set me up an account there where people
[01:08:47.360 --> 01:08:51.480]  could purchase silver and put it in my account.
[01:08:51.480 --> 01:08:53.840]  I don't want any of their green money.
[01:08:53.840 --> 01:09:00.800]  I want to put silver in the account, but I don't need to take that silver in my hand.
[01:09:00.800 --> 01:09:05.880]  I just put it in the account, and if I want to buy a car, then I'll trade some of my
[01:09:05.880 --> 01:09:12.280]  silver for a car, or I trade labor, or I trade something else.
[01:09:12.280 --> 01:09:17.320]  How would the tax guy get at me if I didn't get it?
[01:09:17.320 --> 01:09:23.600]  I think what he would do, what he would try to do is, again, unconstitutionally, he would
[01:09:23.600 --> 01:09:31.760]  come in and impute a value on that transaction as if it were done in Federal Reserve notes
[01:09:31.760 --> 01:09:34.680]  and then charge you a tax in Federal Reserve notes.
[01:09:34.680 --> 01:09:39.440]  The problem is, you would fight it, and you would go to court, and the judge who's paid
[01:09:39.440 --> 01:09:44.440]  by the Federal Government and gets paid in Federal Reserve notes and realizes if he doesn't
[01:09:44.440 --> 01:09:48.960]  rule in favor of the private Federal Reserve and the government, it's going to collapse
[01:09:48.960 --> 01:09:49.960]  the system.
[01:09:49.960 --> 01:09:55.720]  He would illegally, unconstitutionally rule in favor of his boss, the Federal Reserve
[01:09:55.720 --> 01:09:59.800]  and the Federal, and he would just make a ruling, and you'd be screwed.
[01:09:59.800 --> 01:10:05.200]  I mean, again, you know yourself when you get to court, it has nothing to do with the
[01:10:05.200 --> 01:10:06.600]  facts and the law.
[01:10:06.600 --> 01:10:11.840]  It has to do with the power, and if they start making rulings like that, it's going to collapse
[01:10:11.840 --> 01:10:14.560]  the present system even sooner.
[01:10:14.560 --> 01:10:19.120]  It's going to collapse of its own way eventually anyway, but no judge wants to be the one that
[01:10:19.120 --> 01:10:25.640]  collapses the system, so even though you would have the law and the facts on your side, you'd
[01:10:25.640 --> 01:10:26.640]  probably lose.
[01:10:26.640 --> 01:10:30.160]  Was that okay?
[01:10:30.160 --> 01:10:39.200]  We could deal with that later if they do, but with the condition of the public as it
[01:10:39.200 --> 01:10:50.400]  is right now, I just watched a program today where a news program was interviewing a new
[01:10:50.400 --> 01:10:55.920]  State Representative, he said, one of the newest that was there, and they were talking
[01:10:55.920 --> 01:11:05.240]  about how the approval rating was at 9% for the Congress, and this guy said, 9%, where
[01:11:05.240 --> 01:11:07.040]  did you find those guys?
[01:11:07.040 --> 01:11:10.400]  I can't find anybody who's happy with us.
[01:11:10.400 --> 01:11:18.360]  So there's a couple kinds of power, money and votes, and right now we're in a position
[01:11:18.360 --> 01:11:26.080]  to where the swing is toward the voters, because everybody who's in office is looking
[01:11:26.080 --> 01:11:34.200]  at getting out of office, and this creates politics, and all of this politics is local.
[01:11:34.200 --> 01:11:40.400]  We may have an opportunity here to make some dramatic changes.
[01:11:40.400 --> 01:11:42.800]  What kind of changes do you think we should make?
[01:11:42.800 --> 01:11:48.560]  Is there a way out of this if not for the country, for the individual States?
[01:11:48.560 --> 01:11:54.240]  What can we do to find remedy here at home?
[01:11:54.240 --> 01:11:59.800]  Well, I think what's going on now, that process is beginning.
[01:11:59.800 --> 01:12:04.560]  I think that people will start going more and more to barter where they will trade one
[01:12:04.560 --> 01:12:08.640]  good for another good, because again, when they still start rejecting the paper, because
[01:12:08.640 --> 01:12:13.000]  nobody's going to want the paper, because even if you take the paper dollar, where do
[01:12:13.000 --> 01:12:14.000]  you put it?
[01:12:14.000 --> 01:12:17.840]  You put it in a bank, a savings account to draw a half a percent interest when inflation's
[01:12:17.840 --> 01:12:23.480]  nine or ten percent, the real inflation rate is probably 10% right now, so if you put it
[01:12:23.480 --> 01:12:31.160]  in savings, you're going to lose purchasing power, so you get malinvestments all over the
[01:12:31.160 --> 01:12:33.600]  place trying to preserve capital.
[01:12:33.600 --> 01:12:38.080]  So eventually, people are seeing that's a losing game, so I think we are going to go
[01:12:38.080 --> 01:12:42.120]  more and more to barter, and even if people use gold and silver, that's probably going
[01:12:42.120 --> 01:12:47.640]  to be one of the best things to barter with, and I think if enough people do it, the federal
[01:12:47.640 --> 01:12:52.440]  government, the IRS can't keep up with it, but the first few people that start doing
[01:12:52.440 --> 01:12:57.880]  it, I think they'll come in and impute a monetary value using Federal Reserve notes and try
[01:12:57.880 --> 01:13:02.320]  to charge that person taxes, and if the person doesn't pay the taxes, they'll put liens
[01:13:02.320 --> 01:13:05.400]  on their property and steal it.
[01:13:05.400 --> 01:13:08.920]  What's going on right now all over the world is absolute theft.
[01:13:08.920 --> 01:13:11.960]  It's plunder by the banks of the country.
[01:13:11.960 --> 01:13:16.360]  They're plundering the wealth of the people, and it's getting worse and worse, and that's
[01:13:16.360 --> 01:13:20.800]  why they're putting in the police states in all the countries of the world so they can
[01:13:20.800 --> 01:13:21.800]  plunder.
[01:13:21.800 --> 01:13:26.320]  They're above the law, and they can just steal from the...
[01:13:26.320 --> 01:13:29.000]  The best way to get rich is to steal wealth.
[01:13:29.000 --> 01:13:30.760]  That's the quickest and best way to get rich.
[01:13:30.760 --> 01:13:35.560]  Well, if you and I try to steal the wealth, we'll go to prison, so what we've got is the
[01:13:35.560 --> 01:13:40.040]  elite power structure that's above the law, and they come in and steal whatever they can
[01:13:40.040 --> 01:13:44.400]  steal because they're above the law, and they can get away with it, and at some point there
[01:13:44.400 --> 01:13:49.440]  will be a critical mass of people that will do exactly what you just suggested.
[01:13:49.440 --> 01:13:55.120]  They'll bypass the currency, they'll start using their own means to transact their business,
[01:13:55.120 --> 01:13:56.240]  and then when it...
[01:13:56.240 --> 01:14:00.480]  I don't know what that number is, but when that critical mass occurs, it'll be the
[01:14:00.480 --> 01:14:04.960]  straw that breaks the camel's back, and the paper system will collapse, and we'll have
[01:14:04.960 --> 01:14:11.080]  to start over with a new type of system to transact business because the current system
[01:14:11.080 --> 01:14:13.080]  is broken.
[01:14:13.080 --> 01:14:15.000]  It was never designed to work forever.
[01:14:15.000 --> 01:14:21.040]  It was designed to make the banking system, the elites at the top, wealthy by stealing
[01:14:21.040 --> 01:14:22.520]  and plundering the wealth.
[01:14:22.520 --> 01:14:25.760]  And it's ran its 50-year lifespan.
[01:14:25.760 --> 01:14:28.280]  Okay, we have a couple of calls.
[01:14:28.280 --> 01:14:35.640]  We have Doug in Texas, Doug, what do you have for us?
[01:14:35.640 --> 01:14:41.600]  Doug, are you there?
[01:14:41.600 --> 01:14:42.600]  I think we've lost Doug.
[01:14:42.600 --> 01:14:46.800]  Okay, we're going to go to Steve in Texas.
[01:14:46.800 --> 01:14:47.800]  Steve.
[01:14:47.800 --> 01:14:48.800]  Hello, Randy.
[01:14:48.800 --> 01:14:50.800]  How are you, Mr. Steve?
[01:14:50.800 --> 01:14:54.160]  Well, I'm ugly, but my wife keeps feeding me.
[01:14:54.160 --> 01:14:55.160]  That's all it counts.
[01:14:55.160 --> 01:14:58.600]  I know that, but I wasn't going to say it.
[01:14:58.600 --> 01:15:02.320]  Dr. Wieth, it's always a pleasure to hear your voice on the radio, sir.
[01:15:02.320 --> 01:15:05.240]  I'd like to draw an analogy to take a step back.
[01:15:05.240 --> 01:15:13.920]  I was listening to what y'all were talking about over the break, and I've got kind of
[01:15:13.920 --> 01:15:19.400]  a brief analogy that I'd like to put out there, kind of bring things into perspective.
[01:15:19.400 --> 01:15:27.080]  If we look at this Federal Reserve note as a credit card or credit paper, imagine if
[01:15:27.080 --> 01:15:29.680]  you were to go to work for, let's say, Dell Corporation.
[01:15:29.680 --> 01:15:31.600]  Michael Dell meets you at the door.
[01:15:31.600 --> 01:15:32.760]  He says, hey, come on in.
[01:15:32.760 --> 01:15:34.040]  We've got your office already.
[01:15:34.040 --> 01:15:37.600]  Well, he opens the office door, and there's nothing there.
[01:15:37.600 --> 01:15:38.600]  It's embarrassing.
[01:15:38.600 --> 01:15:42.320]  It gives you the company credit card, tells you to go to office depot.
[01:15:42.320 --> 01:15:43.320]  You've got carte blanche.
[01:15:43.320 --> 01:15:47.080]  You've got drapes, desks, everything that you need to make this office work.
[01:15:47.080 --> 01:15:50.840]  Two years into the deal, you decide that you don't want to work for Michael Dell anymore.
[01:15:50.840 --> 01:15:52.560]  You want to leave.
[01:15:52.560 --> 01:15:55.080]  Can you take any of that furniture with you?
[01:15:55.080 --> 01:16:00.400]  No, you can't, because the medium of exchange did not belong to you.
[01:16:00.400 --> 01:16:02.760]  It belonged to the company.
[01:16:02.760 --> 01:16:07.120]  The same thing applies to the Federal Reserve note.
[01:16:07.120 --> 01:16:08.960]  It does not belong to us.
[01:16:08.960 --> 01:16:10.440]  It is private script.
[01:16:10.440 --> 01:16:13.400]  It belongs to the Federal Reserve.
[01:16:13.400 --> 01:16:18.760]  So in essence, everything that we use a Federal Reserve note to purchase for what we think
[01:16:18.760 --> 01:16:23.960]  is ourselves doesn't belong to us, belongs to the Federal Reserve.
[01:16:23.960 --> 01:16:26.920]  It's their script.
[01:16:26.920 --> 01:16:31.440]  We pay taxes on it to use it, but it still doesn't belong to us.
[01:16:31.440 --> 01:16:32.440]  What do you think?
[01:16:32.440 --> 01:16:33.440]  That is a new perspective.
[01:16:33.440 --> 01:16:34.440]  Okay, we're about to go to break.
[01:16:34.440 --> 01:16:43.760]  We're about to leave to address that when we come back.
[01:16:43.760 --> 01:16:44.760]  Oh, my goodness.
[01:16:44.760 --> 01:16:45.760]  Thanks a lot.
[01:16:45.760 --> 01:16:46.760]  This is Randy Kelton.
[01:16:46.760 --> 01:16:47.760]  This is David Steeve.
[01:16:47.760 --> 01:16:48.760]  This is Eddie Craig.
[01:16:48.760 --> 01:16:49.760]  The call in number is 512-646-1984.
[01:16:49.760 --> 01:17:01.560]  We'll be right back on the other side.
[01:17:01.560 --> 01:17:08.560]  The call in number is 512-646-1984.
[01:17:08.560 --> 01:17:19.560]  We'll be right back on the other side on the other side on the other side on the other
[01:17:19.560 --> 01:17:49.440]  side on the other side on the other side on the other side.
[01:17:49.440 --> 01:17:56.160]  open Monday through Friday 10 to 6, Saturdays 10 to 5. Visit us at CapitalCornandBullion.com
[01:17:56.160 --> 01:18:00.660]  or call 512-646-6440.
[01:18:00.660 --> 01:18:05.520]  It is so enlightening to listen to 90.1 FM, but finding things on the Internet isn't
[01:18:05.520 --> 01:18:09.280]  so easy, and neither is finding like-minded people to share it with.
[01:18:09.280 --> 01:18:12.280]  Oh, well I guess you haven't heard of Brave New Books then.
[01:18:12.280 --> 01:18:13.280]  Brave New Books?
[01:18:13.280 --> 01:18:14.280]  Yes.
[01:18:14.280 --> 01:18:18.640]  Brave New Books has all the books and DVDs you're looking for by authors like Alex Jones,
[01:18:18.640 --> 01:18:23.400]  Ron Paul, Angie Edward Griffin. They even stock inner food, Berkey products, and Calvin
[01:18:23.400 --> 01:18:24.400]  Soaps.
[01:18:24.400 --> 01:18:26.960]  There's no way a place like that exists.
[01:18:26.960 --> 01:18:32.000]  Go check it out for yourself. It's downtown at 1904 Guadalupe Street, just south of UT.
[01:18:32.000 --> 01:18:36.000]  Oh, by UT? There's never anywhere to park down there.
[01:18:36.000 --> 01:18:41.440]  Actually, they now offer a free hour of parking for paying customers at the 500 MLK parking
[01:18:41.440 --> 01:18:43.440]  facility just behind the bookstore.
[01:18:43.440 --> 01:18:47.560]  It does exist, but when are they open?
[01:18:47.560 --> 01:18:52.120]  Stay through Saturday, 11 a.m. to 9 p.m., and 1 to 6 p.m. on Sundays.
[01:18:52.120 --> 01:19:21.440]  So give them a call at 512-480-2503, or check out their events page at bravenewbookstore.com.
[01:19:21.440 --> 01:19:28.440]  Okay, if that's great to talk to, I hope it's going to be great to leave that video.
[01:19:28.440 --> 01:19:30.440]  The phone lines are open, 512-646-1984.
[01:19:30.440 --> 01:19:48.040]  Call in if you have a question or a comment, and we're talking to Dr. Keith about money
[01:19:48.040 --> 01:19:51.640]  and what we can expect to happen to it.
[01:19:51.640 --> 01:19:54.440]  There was one other thing I'd like to address.
[01:19:54.440 --> 01:20:02.360]  I heard recently about a company that was putting out a credit, what looked like a credit
[01:20:02.360 --> 01:20:08.360]  card, but it had a speck of gold on it.
[01:20:08.360 --> 01:20:15.560]  And when I heard about it, it sounded interesting because this looks like money and acts like
[01:20:15.560 --> 01:20:19.400]  money, but it's really barter.
[01:20:19.400 --> 01:20:24.520]  I know I have a friend who complains about the velocity of money, and he says, we can't
[01:20:24.520 --> 01:20:29.280]  use gold or silver because it's not enough of it, and it's slow down the money too much.
[01:20:29.280 --> 01:20:42.400]  What do you think about this idea of turning gold and silver into a readily tradable commodity?
[01:20:42.400 --> 01:20:53.400]  Dr. Keith, can you hear me?
[01:20:53.400 --> 01:20:54.400]  Yes.
[01:20:54.400 --> 01:21:00.400]  Before I was on the break, I was trying to ask if you could hear me, and apparently
[01:21:00.400 --> 01:21:03.400]  you all couldn't hear me, so I thought I might have dropped off.
[01:21:03.400 --> 01:21:04.400]  Oh, okay.
[01:21:04.400 --> 01:21:05.400]  You're back.
[01:21:05.400 --> 01:21:06.400]  Okay, I'm back.
[01:21:06.400 --> 01:21:07.400]  I heard your question.
[01:21:07.400 --> 01:21:13.520]  Well, Randy, I don't know who's issuing this credit card with a speck of gold on it, but
[01:21:13.520 --> 01:21:15.080]  you always have to trust somebody.
[01:21:15.080 --> 01:21:20.120]  If they're saying that they've got gold in reserve and you're actually trading gold,
[01:21:20.120 --> 01:21:25.040]  how do we know that those people aren't operating on the fractional reserve system where they're
[01:21:25.040 --> 01:21:29.400]  issuing more credit and credit cards than they've got the old backing it?
[01:21:29.400 --> 01:21:31.720]  Oh, no, you misunderstood.
[01:21:31.720 --> 01:21:37.840]  The card actually had the gold on it.
[01:21:37.840 --> 01:21:43.560]  Well, that's a fine item out with the difference between batteries just using a gold coin.
[01:21:43.560 --> 01:21:50.840]  I mean, if the gold's on it, it can't be very much, because even at $1,700 an ounce,
[01:21:50.840 --> 01:21:54.200]  how many grains or ounces of gold is on the card?
[01:21:54.200 --> 01:21:55.520]  It was at must gold.
[01:21:55.520 --> 01:21:56.520]  That was the point.
[01:21:56.520 --> 01:21:57.520]  Yes.
[01:21:57.520 --> 01:22:05.200]  It's not currency, it's not counterfeiting, but it is something that has a recognizable
[01:22:05.200 --> 01:22:06.200]  value.
[01:22:06.200 --> 01:22:11.640]  Well, I mean, but that's no different than, let's say I go out in my garage and I make
[01:22:11.640 --> 01:22:15.600]  a gold coin, that's not counterfeiting anything.
[01:22:15.600 --> 01:22:21.840]  I can make gold coins and people can circulate them and use them for barter.
[01:22:21.840 --> 01:22:25.840]  I can put the gold coin, I could make it in a coin or I could put it on a credit card.
[01:22:25.840 --> 01:22:27.640]  That's not counterfeiting.
[01:22:27.640 --> 01:22:28.640]  Exactly.
[01:22:28.640 --> 01:22:33.840]  That's what these guys were doing, and if they get this to catch on, this seems like
[01:22:33.840 --> 01:22:35.840]  a private exchange system.
[01:22:35.840 --> 01:22:43.200]  Sure, it is, and the government has no constitutional authority to regulate that, because they don't
[01:22:43.200 --> 01:22:50.640]  have the authority to exclude any kind of money that people want to use.
[01:22:50.640 --> 01:22:51.640]  All they can do...
[01:22:51.640 --> 01:22:53.640]  It doesn't have dollar on it.
[01:22:53.640 --> 01:22:54.640]  Pardon me?
[01:22:54.640 --> 01:22:58.240]  It says, just so long as it doesn't have dollar on it.
[01:22:58.240 --> 01:22:59.240]  Right.
[01:22:59.240 --> 01:23:04.480]  If it has a dollar on it, that's what that guy Von Nahaus did.
[01:23:04.480 --> 01:23:12.360]  He put the word $10 and $20 on his silver coin, and so they got him for fraud, basically,
[01:23:12.360 --> 01:23:17.880]  by faking people out and making them think it was a dollar, or it was $10 or $20 when
[01:23:17.880 --> 01:23:18.880]  it wasn't.
[01:23:18.880 --> 01:23:23.320]  So, don't put the word dollar on it and you can issue any kind of coin you want, gold
[01:23:23.320 --> 01:23:28.480]  or silver, or you can put it on a credit card, or you can put it into a gold form or in a
[01:23:28.480 --> 01:23:30.240]  coin form or whatever.
[01:23:30.240 --> 01:23:31.720]  There's nothing illegal about that.
[01:23:31.720 --> 01:23:36.640]  Yeah, or there's symbology for it as well, the dollar sign and so on and so forth.
[01:23:36.640 --> 01:23:37.640]  Right.
[01:23:37.640 --> 01:23:40.160]  Don't use the dollar sign and don't put the word dollar on it.
[01:23:40.160 --> 01:23:43.880]  Put the number of grains of silver or the number of grains of gold or the number of
[01:23:43.880 --> 01:23:48.400]  ounces, and there's nothing wrong with that.
[01:23:48.400 --> 01:23:58.760]  I'm thinking that with the nature of technology right now, most of the money that moved through
[01:23:58.760 --> 01:24:04.240]  my company last year, I never saw it, I never touched it.
[01:24:04.240 --> 01:24:07.480]  It was just marks on a ledger.
[01:24:07.480 --> 01:24:12.080]  Somebody put marks on one side of my ledger, somebody puts marks on the other side of my
[01:24:12.080 --> 01:24:20.480]  ledger, and I never see all that stuff, it just marks on the ledger, and it was the marks
[01:24:20.480 --> 01:24:26.120]  on the ledger represented green dollars.
[01:24:26.120 --> 01:24:32.760]  And I had considered, well, that's why I talked to Captain Cornyn Bullion, I want him to set
[01:24:32.760 --> 01:24:45.200]  me up an account where somebody can buy silver from them and then put that silver in my account.
[01:24:45.200 --> 01:24:46.800]  I don't see those green dollars.
[01:24:46.800 --> 01:24:47.800]  Right.
[01:24:47.800 --> 01:24:55.000]  And I want to trade on my ledger with ounces of silver instead of green dollars.
[01:24:55.000 --> 01:24:56.000]  Sure.
[01:24:56.000 --> 01:24:58.000]  What would keep us from doing that?
[01:24:58.000 --> 01:24:59.000]  Nothing.
[01:24:59.000 --> 01:25:04.560]  Now, like I'm saying, I can't predict whether or not how the federal government will come
[01:25:04.560 --> 01:25:10.280]  in and try to interfere in that transaction, even though their interference would be illegal
[01:25:10.280 --> 01:25:14.080]  and unconstitutional, but that doesn't mean they won't come in and try to interfere in
[01:25:14.080 --> 01:25:20.080]  that transaction and impute some sort of a Federal Reserve note dollar amount to that
[01:25:20.080 --> 01:25:25.520]  transaction and try to steal, you know, charge you capital gains tax or some kind of a transaction
[01:25:25.520 --> 01:25:26.520]  tax on it.
[01:25:26.520 --> 01:25:32.600]  I can never predict what the thieving government will do, but theoretically there's nothing
[01:25:32.600 --> 01:25:35.200]  wrong with that transaction you just described.
[01:25:35.200 --> 01:25:39.920]  Because I'm looking at the technology.
[01:25:39.920 --> 01:25:44.720]  The technology is making this so that it's a lot easier for us to do this.
[01:25:44.720 --> 01:25:45.720]  Sure.
[01:25:45.720 --> 01:25:49.560]  And that's what we'll probably wind up doing when we reject the paper dollar, the paper
[01:25:49.560 --> 01:25:55.360]  currency, that put out by the private script of the Federal Reserve.
[01:25:55.360 --> 01:26:01.600]  You will find all different ways to barter because they won't want the paper anymore.
[01:26:01.600 --> 01:26:12.920]  Well, if we are forced into this barter situation, and like these guys with the just printing
[01:26:12.920 --> 01:26:24.960]  gold onto a credit card, if that becomes popular and accepted, how would the government
[01:26:24.960 --> 01:26:29.360]  be able to come back in and reintroduce another script?
[01:26:29.360 --> 01:26:39.840]  Well, the way they always do it is by saying you have to pay taxes in the script.
[01:26:39.840 --> 01:26:42.680]  That's what keeps the value going.
[01:26:42.680 --> 01:26:47.240]  They're going to say, we're not going to accept that little gold thing on that card as taxes.
[01:26:47.240 --> 01:26:52.480]  You have to pay taxes in this, and then they'll keep raising the tax rates, and so they'll
[01:26:52.480 --> 01:26:57.880]  always make us have to compete for that otherwise valueless paper, because that's what we have
[01:26:57.880 --> 01:27:01.160]  to pay taxes, and even though most of the taxes are unconstitutional.
[01:27:01.160 --> 01:27:10.880]  Now, wait a minute, okay, the tax laws require us to pay the tax in legal tender.
[01:27:10.880 --> 01:27:18.400]  If the state designates gold or silver legal tender, that would seem like it would change
[01:27:18.400 --> 01:27:19.400]  anything.
[01:27:19.400 --> 01:27:24.360]  You have to pay state taxes in legal tender, but the federal government is still going
[01:27:24.360 --> 01:27:28.840]  to say you have to pay your IRS, your federal taxes, in the legal tender.
[01:27:28.840 --> 01:27:34.200]  Yeah, but again, that's presuming direct taxation power of the people within the states, which
[01:27:34.200 --> 01:27:39.560]  they don't actually have, if the states actually will stand up for the people within the borders
[01:27:39.560 --> 01:27:44.040]  and assume their 10th Amendment responsibility, then they would prevent the feds from going
[01:27:44.040 --> 01:27:45.560]  directly after the individuals.
[01:27:45.560 --> 01:27:51.080]  If they're going to declare gold and silver a monetary standard, they can't do that without
[01:27:51.080 --> 01:27:52.880]  willing to go that step as well.
[01:27:52.880 --> 01:27:54.880]  Yeah, that's what I was looking at.
[01:27:54.880 --> 01:27:58.560]  If the gold and silver are the monetary standard, all they're doing is following the Constitution,
[01:27:58.560 --> 01:28:02.880]  which says no state shall make anything but gold and silver coin a tender of payment and
[01:28:02.880 --> 01:28:03.880]  debt.
[01:28:03.880 --> 01:28:12.960]  If they do that, then when I first heard about it, I was looking at stopping federal preemption,
[01:28:12.960 --> 01:28:19.040]  and if I'm a state legislator, I have the federal government coming into my state extracting
[01:28:19.040 --> 01:28:27.360]  a tremendous amount of the value that my voters create every year with their labor.
[01:28:27.360 --> 01:28:37.480]  If I can push them out, then my constituents aren't going to complain as much about my
[01:28:37.480 --> 01:28:39.280]  high taxes.
[01:28:39.280 --> 01:28:41.680]  It gives me more money that I can administrate.
[01:28:41.680 --> 01:28:47.360]  Right, and you know who can do this is the sheriffs of each county because the sheriffs
[01:28:47.360 --> 01:28:53.240]  take an oath to uphold the Constitution, and they can say, that's all we're doing in my
[01:28:53.240 --> 01:28:58.000]  county is upholding the Constitution using gold and silver coin, IRS agent, get the
[01:28:58.000 --> 01:28:59.600]  hell out of my county.
[01:28:59.600 --> 01:29:00.600]  Get out of here.
[01:29:00.600 --> 01:29:07.440]  Yeah, as I understand, the feds can't come into a county without the sheriff's permission.
[01:29:07.440 --> 01:29:08.440]  They can't.
[01:29:08.440 --> 01:29:15.960]  Again, this may evolve into this, where we actually have the state standing up to the
[01:29:15.960 --> 01:29:16.960]  federal government.
[01:29:16.960 --> 01:29:20.800]  We actually have the sheriffs of the counties standing up to the federal government.
[01:29:20.800 --> 01:29:28.680]  It may very well come to that, but right now, we're not there yet, but things are evolving,
[01:29:28.680 --> 01:29:33.160]  and the more the paper system collapses, the more people will do these things because they
[01:29:33.160 --> 01:29:34.320]  want to survive.
[01:29:34.320 --> 01:29:36.320]  People want to survive.
[01:29:36.320 --> 01:29:40.320]  When they start doing them and they actually work, they're not going to want to go back.
[01:29:40.320 --> 01:29:41.320]  Right.
[01:29:41.320 --> 01:29:42.320]  Okay.
[01:29:42.320 --> 01:29:43.320]  Okay, this is, we're about to go to break.
[01:29:43.320 --> 01:29:51.160]  This is Randy Kelton, Deborah Stevens, Eddie Craig, phone lines are open, 512-646-1984.
[01:29:51.160 --> 01:29:56.520]  Call in with questions for Dr. B, or with anything else you have in interest here.
[01:29:56.520 --> 01:30:00.000]  We'll be right back on the other side.
[01:30:00.000 --> 01:30:03.440]  Top 10 reasons to question the official story of the Oklahoma City bombing.
[01:30:03.440 --> 01:30:04.440]  Reason number 10.
[01:30:04.440 --> 01:30:05.440]  What is on the surveillance tapes?
[01:30:05.440 --> 01:30:09.200]  There were many video surveillance cameras that recorded the morning of the bombing,
[01:30:09.200 --> 01:30:12.000]  yet the few of these that have been released do not show what transpired with the rider
[01:30:12.000 --> 01:30:13.760]  truck at the Murrow Building.
[01:30:13.760 --> 01:30:16.560]  Most recently, the government has claimed that all of the cameras that were in different
[01:30:16.560 --> 01:30:19.920]  buildings and maintained by different businesses were all having their tapes changed at the
[01:30:19.920 --> 01:30:21.200]  exact same time, 9.02 a.m.
[01:30:21.200 --> 01:30:25.440]  This is insulting to the memory of those who perish in the bombing.
[01:30:25.440 --> 01:30:26.440]  What is being hidden from us?
[01:30:26.440 --> 01:30:34.080]  For more information, please go to okcbombingtruth.com.
[01:30:34.080 --> 01:30:41.320]  For more information, please go to okcbombingtruth.com.
[01:30:41.320 --> 01:31:10.320]  We'll be right back on the other side.
[01:31:10.320 --> 01:31:12.640]  Start over with Start Page.
[01:31:12.640 --> 01:31:15.920]  Why are Americans overweight?
[01:31:15.920 --> 01:31:20.120]  We're often told it's because fattening junk food is the only thing low-income families
[01:31:20.120 --> 01:31:21.120]  can afford.
[01:31:21.120 --> 01:31:23.440]  But let's set the record straight.
[01:31:23.440 --> 01:31:27.080]  Processed food is actually way more expensive than food cooked at home.
[01:31:27.080 --> 01:31:31.600]  Example, feeding a family of four at Mickey D's costs about 30 bucks.
[01:31:31.600 --> 01:31:36.040]  At home, a roasted chicken with potatoes and a salad costs less than half that.
[01:31:36.040 --> 01:31:37.520]  Plus, it's a lot healthier.
[01:31:37.520 --> 01:31:40.720]  Truth is, most people are able to afford real food.
[01:31:40.720 --> 01:31:44.280]  It's the cooking we don't like, because we view it as backbreaking work.
[01:31:44.280 --> 01:31:48.600]  We need to start appreciating the pleasures of a warm, savory kitchen and the closeness
[01:31:48.600 --> 01:31:50.600]  that comes from nourishing our families.
[01:31:50.600 --> 01:31:52.600]  I'm Dr. Catherine Albrecht.
[01:31:52.600 --> 01:32:22.440]  For more news and information at CatherineAlbrecht.com
[01:32:22.440 --> 01:32:44.880]  I have a friend who keeps talking about how important the velocity of money is.
[01:32:44.880 --> 01:32:50.680]  I hear his argument and I keep thinking, you've got to be out of your mind.
[01:32:50.680 --> 01:32:57.440]  It's his position that in order to keep things moving, we have to have paper money so we
[01:32:57.440 --> 01:33:03.080]  can have enough money so that everybody has the money they need to get things done.
[01:33:03.080 --> 01:33:06.560]  Dr. Viet, I'd like you to address that issue.
[01:33:06.560 --> 01:33:07.560]  Okay.
[01:33:07.560 --> 01:33:08.560]  I'd be glad to.
[01:33:08.560 --> 01:33:09.560]  Yeah.
[01:33:09.560 --> 01:33:12.800]  I hear this argument all the time about the quantity of money.
[01:33:12.800 --> 01:33:16.960]  There's not enough gold and silver in the world to use as money, and that's a fallacious
[01:33:16.960 --> 01:33:17.960]  argument.
[01:33:17.960 --> 01:33:21.400]  Now, let me mention first about the velocity of money.
[01:33:21.400 --> 01:33:27.160]  The velocity of money is important, but the problem with paper money is you have an artificial
[01:33:27.160 --> 01:33:33.760]  velocity because as you issue more and more paper money faster than you can produce goods
[01:33:33.760 --> 01:33:37.360]  and services, sure, you can get the velocity moving very fast.
[01:33:37.360 --> 01:33:40.400]  It's just like having that credit card with no ceiling.
[01:33:40.400 --> 01:33:42.240]  You can buy things on credit.
[01:33:42.240 --> 01:33:46.680]  The problem is the day of reckoning comes when you have to pay for things.
[01:33:46.680 --> 01:33:51.080]  Even with the velocity of money, if it moves too fast, you get malinvestment.
[01:33:51.080 --> 01:33:54.120]  You get capital going to bubbles.
[01:33:54.120 --> 01:33:56.120]  That's the problem with paper currency.
[01:33:56.120 --> 01:33:58.600]  That's what we're experiencing now.
[01:33:58.600 --> 01:34:03.080]  Everything looks great and prosperous while you're issuing more and more debt, more and
[01:34:03.080 --> 01:34:09.440]  more credit is coming into existence because you're buying things and to pay for them later.
[01:34:09.440 --> 01:34:10.680]  It's like a layaway plan.
[01:34:10.680 --> 01:34:13.160]  You're buying them now, but you don't have to pay till later.
[01:34:13.160 --> 01:34:16.160]  Well, you're putting the debt on future generations.
[01:34:16.160 --> 01:34:21.520]  Or to increase the velocity, we're borrowing more now, but when we borrow now and it's
[01:34:21.520 --> 01:34:25.960]  a 10-year bond, that means somebody born 10 years from now has to start paying off the
[01:34:25.960 --> 01:34:28.480]  bond where we borrowed and spent it earlier.
[01:34:28.480 --> 01:34:33.760]  Yes, you can look very prosperous and the velocity of money can look really good while
[01:34:33.760 --> 01:34:37.840]  you're running up these debts, but the day of reckoning always comes and that's when
[01:34:37.840 --> 01:34:38.840]  it collapses.
[01:34:38.840 --> 01:34:44.320]  It's not fair to future generations to increase the velocity by borrowing more and more so
[01:34:44.320 --> 01:34:48.560]  we can spend now and have everything we want now and then saddle future generations with
[01:34:48.560 --> 01:34:49.560]  the debt.
[01:34:49.560 --> 01:34:56.560]  The debt always comes due and when it comes due, that's when the system is going to collapse.
[01:34:56.560 --> 01:35:01.560]  The other point is when he said there's not enough gold and silver in the world, the quantity
[01:35:01.560 --> 01:35:04.400]  of money is never important.
[01:35:04.400 --> 01:35:05.400]  Let me explain why.
[01:35:05.400 --> 01:35:13.320]  Let's say right now the total quantity of dollars that's in circulation, let's say it's
[01:35:13.320 --> 01:35:15.840]  $10 trillion.
[01:35:15.840 --> 01:35:22.200]  Let's say overnight the government prints up $10 more trillion, now we have $20 trillion,
[01:35:22.200 --> 01:35:24.760]  so we just doubled our money supply.
[01:35:24.760 --> 01:35:27.040]  Are we twice as wealthy as we were?
[01:35:27.040 --> 01:35:28.040]  No.
[01:35:28.040 --> 01:35:33.320]  The existing dollars just lost 50% of their purchasing power, so they'll buy half as much.
[01:35:33.320 --> 01:35:37.320]  You can't increase wealth by increasing the money supply.
[01:35:37.320 --> 01:35:39.600]  The same goes with gold and silver.
[01:35:39.600 --> 01:35:50.760]  Let's say the entire world quantity of gold is 1,000 tons and our money supply is gold.
[01:35:50.760 --> 01:35:55.040]  We coin gold and the entire amount of money in the world is 1,000 tons.
[01:35:55.040 --> 01:36:03.120]  Let's say somebody discovers overnight a huge supply of gold, a gold mine, and it's got
[01:36:03.120 --> 01:36:06.440]  1,000 tons just in that one mine.
[01:36:06.440 --> 01:36:11.240]  Now, 1,000 more tons of supply of gold comes onto the market.
[01:36:11.240 --> 01:36:13.040]  Did we become twice as wealthy?
[01:36:13.040 --> 01:36:14.040]  No.
[01:36:14.040 --> 01:36:19.400]  All it did was devalue the existing gold, it cut it in half because now we've got a
[01:36:19.400 --> 01:36:22.360]  greater supply of gold.
[01:36:22.360 --> 01:36:27.360]  By doubling the gold supply, that's why the old, what do you call it, the people that
[01:36:27.360 --> 01:36:30.600]  used to try to turn lead into gold.
[01:36:30.600 --> 01:36:36.520]  If we could turn lead into gold, it would devalue the gold that's existing.
[01:36:36.520 --> 01:36:38.200]  The same thing.
[01:36:38.200 --> 01:36:42.520]  If you have a certain amount of silver or gold and all of a sudden you discover more
[01:36:42.520 --> 01:36:47.680]  of it, it doesn't make us more wealthy, it just decreases the value of the existing
[01:36:47.680 --> 01:36:49.160]  gold and silver.
[01:36:49.160 --> 01:36:54.200]  What makes us wealthy is producing goods, producing things.
[01:36:54.200 --> 01:36:57.640]  That's what makes us wealthy when we have things.
[01:36:57.640 --> 01:36:59.960]  The quantity of gold is not important.
[01:36:59.960 --> 01:37:03.920]  What happens is, let's say we have, again, a finite amount of gold.
[01:37:03.920 --> 01:37:08.800]  We have 1,000 tons of gold in the world and now we start producing more widgets, more
[01:37:08.800 --> 01:37:13.200]  goods and services, but the amount of gold doesn't go up.
[01:37:13.200 --> 01:37:18.200]  All it means is the existing quantity buys more of those goods and services.
[01:37:18.200 --> 01:37:25.720]  If you want to put gold into a coin because gold can be put into, it's fungible and it's
[01:37:25.720 --> 01:37:31.200]  divisible, you can put smaller and smaller and smaller quantities of gold and silver
[01:37:31.200 --> 01:37:33.640]  into a coin.
[01:37:33.640 --> 01:37:38.720]  You could put one grain of silver in a coin and that would have a certain value.
[01:37:38.720 --> 01:37:45.640]  Again, there is enough, there's always is enough gold or enough silver to monetize the
[01:37:45.640 --> 01:37:46.880]  world.
[01:37:46.880 --> 01:37:54.400]  All it would do is you keep that, it's like saying, there's not enough inches in the world
[01:37:54.400 --> 01:37:55.960]  to measure everything.
[01:37:55.960 --> 01:37:57.800]  You see what I'm saying?
[01:37:57.800 --> 01:38:00.080]  Inch is a standard measurement.
[01:38:00.080 --> 01:38:02.400]  It's used to measure everything else.
[01:38:02.400 --> 01:38:06.600]  You can't say we're running out of inches, you know, there's always enough inches to
[01:38:06.600 --> 01:38:07.600]  measure everything.
[01:38:07.600 --> 01:38:12.160]  Well, if you take a certain quantity of gold or silver and use that, let's say we start
[01:38:12.160 --> 01:38:18.600]  out with 1 ounce of gold and 1 ounce of silver is our monetary unit, okay?
[01:38:18.600 --> 01:38:21.200]  An ounce of silver becomes our monetary unit.
[01:38:21.200 --> 01:38:26.440]  We can always measure the change in value of everything else as we produce more widgets
[01:38:26.440 --> 01:38:29.240]  that 1 ounce of silver will buy more and more widgets.
[01:38:29.240 --> 01:38:32.440]  You see, you understand what I'm saying?
[01:38:32.440 --> 01:38:37.520]  It's hard to explain this so people get it, but believe me, the quantity of money is not
[01:38:37.520 --> 01:38:38.520]  important.
[01:38:38.520 --> 01:38:42.360]  As you produce more products, the money you have will buy more of them.
[01:38:42.360 --> 01:38:44.440]  It'll increase in value.
[01:38:44.440 --> 01:38:48.560]  If you discover, if you increase the gold or silver, then it takes more of that to buy
[01:38:48.560 --> 01:38:49.560]  the widgets.
[01:38:49.560 --> 01:38:57.440]  Yes, the argument about the velocity of money never made sense to me.
[01:38:57.440 --> 01:39:05.360]  Well, saying we don't have enough gold, well, you know, it didn't matter how many dollars
[01:39:05.360 --> 01:39:06.360]  we had.
[01:39:06.360 --> 01:39:07.360]  I didn't see them anyway.
[01:39:07.360 --> 01:39:08.360]  Right.
[01:39:08.360 --> 01:39:10.360]  There were just marks on the picture.
[01:39:10.360 --> 01:39:17.560]  First of all, the issue of velocity and the issue of quantity are two different issues.
[01:39:17.560 --> 01:39:24.600]  Velocity is important in a sense that if everybody had their gold and didn't do anything
[01:39:24.600 --> 01:39:29.320]  with it, didn't buy anything with it, just sat there, then obviously the economy wouldn't
[01:39:29.320 --> 01:39:31.920]  expand very fast, if at all.
[01:39:31.920 --> 01:39:39.680]  But people will always buy something because they have to eat, but what I'm saying is,
[01:39:39.680 --> 01:39:44.920]  you can increase the velocity of money by issuing credit, but that's what's been the
[01:39:44.920 --> 01:39:49.640]  problem with the world is we've issued more and more credit, but when you issue credit,
[01:39:49.640 --> 01:39:51.720]  that means it doesn't have to be paid till later.
[01:39:51.720 --> 01:39:54.440]  That means you buy the goods and services now and you pay later.
[01:39:54.440 --> 01:39:59.360]  Well, if you keep expanding the credit, eventually the day of reckoning comes where you have
[01:39:59.360 --> 01:40:04.000]  to pay off the debt and that's when the bubbles burst and that's what's happening now.
[01:40:04.000 --> 01:40:09.800]  So that's great during the expansion phase of the credit, but look what happens to the
[01:40:09.800 --> 01:40:16.560]  future generations that you put that debt on when they can't pay the debt anymore, then
[01:40:16.560 --> 01:40:20.880]  they go bankrupt because 30 years earlier we borrowed all the money and spent it.
[01:40:20.880 --> 01:40:24.480]  And now the debt comes due, the 30-year bond comes due 30 years later, they have to pay
[01:40:24.480 --> 01:40:27.040]  it and they weren't even born when we spent the money.
[01:40:27.040 --> 01:40:31.280]  So if you use an honest money system like gold and silver coin and you don't do the
[01:40:31.280 --> 01:40:36.360]  fractional reserve banking and all the credit expansion, you pay for your goods and services
[01:40:36.360 --> 01:40:41.360]  as they go along and there's always enough money because as they produce more widgets,
[01:40:41.360 --> 01:40:45.560]  your ounce of silver will just buy more widgets.
[01:40:45.560 --> 01:40:53.280]  That was always my position, I didn't understand, and when we talked about this, he equated
[01:40:53.280 --> 01:41:00.240]  the velocity of money with the quantity of money, to have more money, to have the velocity
[01:41:00.240 --> 01:41:02.880]  and it never made sense.
[01:41:02.880 --> 01:41:12.600]  It was just a ruler or silver, it was just a ruler, my goods, I value my labor, my product
[01:41:12.600 --> 01:41:18.600]  and we trade, I trade my product for his product, well they're not exactly the same.
[01:41:18.600 --> 01:41:26.080]  So I got a little leftover, I put it on the ledger, it's only a matter of what I use as
[01:41:26.080 --> 01:41:29.720]  a benchmark for my ledger.
[01:41:29.720 --> 01:41:41.800]  Right, let me read, let me look in the Constitution here and read one paragraph, one sentence actually.
[01:41:41.800 --> 01:41:50.920]  Let me find it real quick, okay Article 1, Section 8, Clause 5 of the Constitution says
[01:41:50.920 --> 01:41:58.000]  that Congress shall have power to coin money, regulate the value thereof and a foreign coin
[01:41:58.000 --> 01:42:01.040]  and fix the standard of weights and measures.
[01:42:01.040 --> 01:42:07.080]  Now isn't it interesting that in the same sentence where they talk about coining money,
[01:42:07.080 --> 01:42:12.000]  they talk about fixing the value, the standard of weights and measures.
[01:42:12.000 --> 01:42:17.560]  So what that meant was, whatever monetary unit we decide to be, whatever we decide to
[01:42:17.560 --> 01:42:23.440]  be our monetary unit, that is going to become a standard weight and measure.
[01:42:23.440 --> 01:42:31.320]  So as it turns out, we picked, the Spanish mill dollar had 371.25 grains of silver in
[01:42:31.320 --> 01:42:33.240]  it, that was used in the colonies.
[01:42:33.240 --> 01:42:38.960]  So after the Constitutional Convention and then the coin to jack the 1792, we decided
[01:42:38.960 --> 01:42:45.600]  to make the dollar a United States minted coin with 371.25 grains of silver, which is
[01:42:45.600 --> 01:42:51.720]  three quarters of an ounce of silver and that is our unit of account, okay now.
[01:42:51.720 --> 01:42:56.400]  That became part of our standard weight and measures, it still is.
[01:42:56.400 --> 01:43:01.520]  Congress has no more authority to change that unit of measure than they do to change the
[01:43:01.520 --> 01:43:08.560]  value of an inch or a second or a yard or an ounce, you see what I'm saying?
[01:43:08.560 --> 01:43:14.760]  Let's say, see the dollar we use now, the paper dollar, it floats, it has no value,
[01:43:14.760 --> 01:43:21.440]  it has purchasing power, see a real dollar has value, it has 371.25 grains of silver,
[01:43:21.440 --> 01:43:24.160]  that's its value, it's weight in silver, okay.
[01:43:24.160 --> 01:43:29.560]  Now our paper dollar floats against all other currency, so when something floats, and they're
[01:43:29.560 --> 01:43:33.720]  all sinking at the same time, but they're floating at different rates, when something
[01:43:33.720 --> 01:43:38.600]  floats it's not a standard weight or measure, you can't use it to measure anything and I'll
[01:43:38.600 --> 01:43:40.520]  have to finish this when we come back.
[01:43:40.520 --> 01:43:46.440]  Okay, this is Randy Kelton, Debbie Stevens and Craig with the radio, Doug, I see you're
[01:43:46.440 --> 01:43:54.440]  back up, when we come back in we'll give you a fry, our call in number is 512-646-1984,
[01:43:54.440 --> 01:44:00.440]  we'll be right back.
[01:44:00.440 --> 01:44:06.320]  Warning for all Gulf Coast disaster survivors, be aware that dangerous gases are in the air
[01:44:06.320 --> 01:44:12.560]  you breathe, benzene, hydrogen sulfide, methylene chloride and corex of 9500, keep your body
[01:44:12.560 --> 01:44:17.920]  clean with micro plant powder for all Gulf Coast residents and all who want to be healthy,
[01:44:17.920 --> 01:44:24.400]  hempusa.org brings you a new formulation of micro plant powder with lactobacillus acidophilus,
[01:44:24.400 --> 01:44:28.640]  rebuilding your immune system while detoxing the rest of your body, pulling out positive
[01:44:28.640 --> 01:44:34.840]  toxins, heavy metals, viruses, fungus, bacteria and parasites, planes and purifies the blood,
[01:44:34.840 --> 01:44:39.560]  lungs, stomach and colon, micro plant powder will help eliminate these dangerous chemicals
[01:44:39.560 --> 01:44:44.640]  from the body used in the Gulf cleaned up at hempusa.org, we want you to try our number
[01:44:44.640 --> 01:44:53.560]  one selling detox product, micro plant powder, call and order at 1-908-69, 1-2608, 1-908-69,
[01:44:53.560 --> 01:44:59.040]  1-2608 or visit us at hempusa.org today.
[01:44:59.040 --> 01:45:03.400]  Hey, did you hear Ron Paul's announce he's running for president in 2012?
[01:45:03.400 --> 01:45:04.400]  It is Ron Paul.
[01:45:04.400 --> 01:45:05.400]  Really?
[01:45:05.400 --> 01:45:08.360]  Okay, put down the cell phone for one minute, your friends really don't care about your
[01:45:08.360 --> 01:45:10.080]  Twitter updates on what you had for breakfast.
[01:45:10.080 --> 01:45:13.440]  Oh, but I'd love to make those little smiley faces with punctuation marks.
[01:45:13.440 --> 01:45:14.440]  Of course you do.
[01:45:14.440 --> 01:45:17.800]  Now listen closely, you need to go down to Brave New Books and learn as much as you can
[01:45:17.800 --> 01:45:20.360]  about Ron Paul and his message before it's too late.
[01:45:20.360 --> 01:45:23.080]  They have all of his books and many of the books he talks about.
[01:45:23.080 --> 01:45:26.720]  They also have t-shirts, bumper stickers and yard signs so that you can show your support
[01:45:26.720 --> 01:45:27.720]  for him during the campaign.
[01:45:27.720 --> 01:45:28.720]  Brave New Books?
[01:45:28.720 --> 01:45:30.720]  Did they have Harry Potter and Twilight?
[01:45:30.720 --> 01:45:34.960]  No, but they do carry a large selection of survival and preparedness books to protect
[01:45:34.960 --> 01:45:36.440]  your family in time of emergency.
[01:45:36.440 --> 01:45:39.240]  Ugh, that sounds like that show on the Discovery Channel.
[01:45:39.240 --> 01:45:43.000]  Yeah, there's even a wilderness survival expert that teaches classes called Earthskill
[01:45:43.000 --> 01:45:47.000]  School that you can sign up for on the website bravenewbookstore.com.
[01:45:47.000 --> 01:45:48.000]  What are you doing?
[01:45:48.000 --> 01:45:51.440]  I'm tweeting all my friends that they should go to bravenewbookstore.com or down to the
[01:45:51.440 --> 01:45:52.440]  bookstore in person.
[01:45:52.440 --> 01:45:53.440]  Where's it located?
[01:45:53.440 --> 01:45:54.440]  1904 Guadalupe Street.
[01:45:54.440 --> 01:45:55.440]  There, it's sent.
[01:45:55.440 --> 01:45:56.440]  I even made a smiley face.
[01:45:56.440 --> 01:45:57.440]  Great.
[01:45:57.440 --> 01:46:11.440]  When the commerce lurks around the clock, you better watch for the day to day, and I
[01:46:11.440 --> 01:46:17.440]  don't want to bother you.
[01:46:17.440 --> 01:46:42.440]  Okay, we're back and we're heading to Calvary to see what day to Craig, okay, okay, Dr.
[01:46:42.440 --> 01:46:47.440]  Casey would have to finish that thought and then we'll go to Doug.
[01:46:47.440 --> 01:46:53.640]  So the coining of our money is in the same cause in the Constitution as fixing the standard
[01:46:53.640 --> 01:46:55.200]  of weights and measures.
[01:46:55.200 --> 01:47:01.940]  Now let's say we allowed our inch to float and or our yard to float and I come in to
[01:47:01.940 --> 01:47:06.560]  measure your, you know, you want to buy carpet from me and I measure and I tell you I'm going
[01:47:06.560 --> 01:47:10.440]  to give you 200 yards of carpet, that'll carpet your house and you pay me for 200 yards of
[01:47:10.440 --> 01:47:11.440]  carpet.
[01:47:11.440 --> 01:47:15.440]  And the next day I come in and carpet half your house and you say, hey, I bought 200
[01:47:15.440 --> 01:47:16.440]  yards of carpet.
[01:47:16.440 --> 01:47:17.440]  I say, yeah, I gave it to you.
[01:47:17.440 --> 01:47:20.440]  The yard is floating and it's only worth half as much today.
[01:47:20.440 --> 01:47:21.440]  Okay.
[01:47:21.440 --> 01:47:25.680]  See, we could never stand for that in our other weights and measures.
[01:47:25.680 --> 01:47:32.080]  But the dollar, 371.25 grains of silver, became a part of our standard weights and measures.
[01:47:32.080 --> 01:47:35.240]  It's not allowed to float and actually it doesn't float.
[01:47:35.240 --> 01:47:37.040]  That's still a real dollar.
[01:47:37.040 --> 01:47:40.480]  But what they've done is they've come in and given us this paper dollar bill.
[01:47:40.480 --> 01:47:41.480]  It's not a dollar.
[01:47:41.480 --> 01:47:42.480]  It's a dollar bill.
[01:47:42.480 --> 01:47:46.280]  It's a Federal Reserve note and it floats and you can never know the value of it because
[01:47:46.280 --> 01:47:47.280]  it floats.
[01:47:47.280 --> 01:47:51.120]  So you can't measure anything when you don't know the value of something.
[01:47:51.120 --> 01:47:55.320]  So the value of a dollar is its weight in silver.
[01:47:55.320 --> 01:48:00.800]  And so it's just like an inch or a yard or a second or a minute or a quart or an ounce.
[01:48:00.800 --> 01:48:02.200]  It's a standard weight.
[01:48:02.200 --> 01:48:03.200]  Okay.
[01:48:03.200 --> 01:48:06.760]  It just so happens because it's a standard weight that has silver in it.
[01:48:06.760 --> 01:48:09.000]  It also has purchasing power.
[01:48:09.000 --> 01:48:13.840]  So a real dollar has a value in purchasing power.
[01:48:13.840 --> 01:48:16.520]  A Federal Reserve note has no value.
[01:48:16.520 --> 01:48:18.520]  It only has purchasing power.
[01:48:18.520 --> 01:48:23.400]  And that power is only there as long as the next person is willing to accept it, otherwise
[01:48:23.400 --> 01:48:24.400]  it has nothing.
[01:48:24.400 --> 01:48:26.560]  You see the difference?
[01:48:26.560 --> 01:48:27.560]  Absolutely.
[01:48:27.560 --> 01:48:35.600]  And the dollar, if you have a silver dollar now, what are they going for, about $25, $26?
[01:48:35.600 --> 01:48:39.920]  The probably usually a silver dollar, even though it only has three quarters of an ounce
[01:48:39.920 --> 01:48:46.960]  of silver, usually goes for about what the spot price of an ounce of silver goes for,
[01:48:46.960 --> 01:48:49.080]  which is about $32 an ounce.
[01:48:49.080 --> 01:48:53.800]  So probably around $30 or $32 an ounce somewhere in that range because, see, there's a limited
[01:48:53.800 --> 01:48:55.280]  supply of real dollars.
[01:48:55.280 --> 01:48:57.720]  They're like numismatic coins.
[01:48:57.720 --> 01:49:07.200]  It's still about $970 short based on the number of paper dollars out there in circulation.
[01:49:07.200 --> 01:49:10.200]  What do you mean $970 short?
[01:49:10.200 --> 01:49:22.800]  Well, if in the beginning a green dollar would buy a $1, betrayed equally for a silver dollar,
[01:49:22.800 --> 01:49:29.360]  the dollar has lost 99% of its value, I'm sorry, it should be $100 per dollar instead
[01:49:29.360 --> 01:49:30.360]  of $1,000.
[01:49:30.360 --> 01:49:31.360]  Yeah.
[01:49:31.360 --> 01:49:32.360]  Yeah.
[01:49:32.360 --> 01:49:33.920]  So we're 70 bucks short.
[01:49:33.920 --> 01:49:40.760]  The paper dollar has lost 98% of its purchasing power.
[01:49:40.760 --> 01:49:44.120]  So that silver dollar should actually go for $98.
[01:49:44.120 --> 01:49:45.120]  Right.
[01:49:45.120 --> 01:49:53.640]  But see, the reason it doesn't is because of the powers that be worldwide artificially
[01:49:53.640 --> 01:49:56.400]  suppressed the price of gold and silver.
[01:49:56.400 --> 01:50:02.240]  And they do it by flooding the markets with paper contracts for gold and silver that they
[01:50:02.240 --> 01:50:05.840]  can never deliver the physical gold silver because they don't have it.
[01:50:05.840 --> 01:50:10.040]  But if they sell a paper contract, say for 5,000 ounces of silver onto the market, a
[01:50:10.040 --> 01:50:15.920]  futures contract, that has the same effect as dumping 5,000 ounces of physical silver
[01:50:15.920 --> 01:50:17.040]  on the market.
[01:50:17.040 --> 01:50:21.880]  The problem is they're not dumping the physical silver because they don't have it.
[01:50:21.880 --> 01:50:25.680]  So they flood the markets with these paper contracts.
[01:50:25.680 --> 01:50:29.760]  And eventually that's going to come home to root because eventually when enough people
[01:50:29.760 --> 01:50:34.240]  say, I don't want the profits from the paper contract, I want the delivery of the physical
[01:50:34.240 --> 01:50:39.440]  and they can't deliver it, again, that's when the price of silver and gold are going
[01:50:39.440 --> 01:50:44.840]  to go to the moon and they're going to go even higher than the $98 because of the artificial
[01:50:44.840 --> 01:50:50.520]  suppression of it for so long, people have not spent a lot of time trying to mine gold
[01:50:50.520 --> 01:50:54.440]  and silver because it's a losing proposition.
[01:50:54.440 --> 01:50:57.000]  It costs them more to mine it than they can get for it.
[01:50:57.000 --> 01:51:03.760]  So we have a physical shortage supply, but that won't manifest until everybody starts
[01:51:03.760 --> 01:51:09.080]  demanding physical instead of just the paper profits from their futures contracts.
[01:51:09.080 --> 01:51:10.760]  If that makes any sense to you.
[01:51:10.760 --> 01:51:12.480]  You expect that to start happening.
[01:51:12.480 --> 01:51:13.480]  Oh, it's already starting.
[01:51:13.480 --> 01:51:15.000]  Yes, it is happening.
[01:51:15.000 --> 01:51:16.000]  It is happening.
[01:51:16.000 --> 01:51:17.000]  All this is starting.
[01:51:17.000 --> 01:51:23.200]  They're starting to, people that are starting to ask for physical delivery of their gold
[01:51:23.200 --> 01:51:25.080]  and silver, some of them, they can't get it.
[01:51:25.080 --> 01:51:28.360]  They're just saying flat out, you take the paper profit.
[01:51:28.360 --> 01:51:33.880]  And so what's happening is right now, and even the COMEX, I mean, even the elites are
[01:51:33.880 --> 01:51:37.680]  starting to get their gold and silver out of storage at the COMEX and they're starting
[01:51:37.680 --> 01:51:42.520]  to take physical supply, Venezuela just took physical possession of all its gold.
[01:51:42.520 --> 01:51:44.840]  It was stored, I think, in London.
[01:51:44.840 --> 01:51:48.120]  And so, yeah, it was Venezuela.
[01:51:48.120 --> 01:51:49.840]  So yeah, it's already starting.
[01:51:49.840 --> 01:51:53.680]  In other words, nobody wants the paper promise anymore to deliver something.
[01:51:53.680 --> 01:51:56.800]  They want the real thing.
[01:51:56.800 --> 01:52:07.560]  So how long do you expect the transition period to take from one currency to another?
[01:52:07.560 --> 01:52:14.360]  Well, you know, trying to predict the timing of all this is very, very difficult because
[01:52:14.360 --> 01:52:20.640]  the powers that be can always do some little something because they've got the cooperation
[01:52:20.640 --> 01:52:25.080]  of all the other governments and all the central banks basically around the world.
[01:52:25.080 --> 01:52:30.960]  So to keep it going, I mean, even China, they hold a bunch of US bonds, but they don't want
[01:52:30.960 --> 01:52:33.000]  to just dump them all and not get any money for it.
[01:52:33.000 --> 01:52:36.360]  So they all want to control the slow motion collapse.
[01:52:36.360 --> 01:52:41.800]  They don't want a sudden demolition because everybody that's holding dollar-denominated
[01:52:41.800 --> 01:52:44.920]  assets, they don't want to lose value.
[01:52:44.920 --> 01:52:47.760]  They've got to figure out a way to get rid of them without just dumping them onto the
[01:52:47.760 --> 01:52:49.600]  market and losing value.
[01:52:49.600 --> 01:52:54.960]  So things always take longer, but what I'm seeing is things are speeding more and more
[01:52:54.960 --> 01:53:01.240]  rapidly like you're starting to get that decline curve is getting steeper and steeper and steeper
[01:53:01.240 --> 01:53:05.600]  and eventually it goes parabolically down just like dropping off a cliff.
[01:53:05.600 --> 01:53:11.440]  So I always say, when people ask me how long, I say it wouldn't surprise me if it happened
[01:53:11.440 --> 01:53:16.320]  tomorrow and I also wouldn't be shocked or surprised if they could keep it going another
[01:53:16.320 --> 01:53:19.640]  two, three years.
[01:53:19.640 --> 01:53:23.840]  You know, I mean, if I woke up tomorrow and I found out there were bank holidays all over
[01:53:23.840 --> 01:53:29.800]  the world, all the banks were insolvent, the dollars just lost half its value, it wouldn't
[01:53:29.800 --> 01:53:30.800]  shock me.
[01:53:30.800 --> 01:53:31.800]  It wouldn't surprise me at all.
[01:53:31.800 --> 01:53:37.480]  I'm expecting it any day, I'm prepared for it any day mentally, but I also know that
[01:53:37.480 --> 01:53:41.120]  they could probably, you know, keep little steroid injections going into the system for
[01:53:41.120 --> 01:53:46.440]  another two, three, four years, but even doing that, it's still collapsing, it's still getting
[01:53:46.440 --> 01:53:51.600]  worse by the day, it just hasn't all gone to pot at once.
[01:53:51.600 --> 01:53:59.360]  That was, what I was really looking at is you and me and all of us ordinary working
[01:53:59.360 --> 01:54:05.440]  staffs, we will adjust to this.
[01:54:05.440 --> 01:54:10.880]  If we can't do this with the government, we'll do it another way and we'll find other ways
[01:54:10.880 --> 01:54:13.400]  of handling it.
[01:54:13.400 --> 01:54:21.840]  And that's what I was wondering how long you think it'll take us as a people to reestablish
[01:54:21.840 --> 01:54:29.840]  our ability to do commerce in the face of this turmoil with these paper dollars.
[01:54:29.840 --> 01:54:36.840]  Well see, the global plan is to have a one world government and a one world currency.
[01:54:36.840 --> 01:54:41.120]  The power elites, they would like to have one currency, they would like to have it all
[01:54:41.120 --> 01:54:43.400]  be electronic, no paper.
[01:54:43.400 --> 01:54:48.640]  So you have digits in your account and you do something the government doesn't like
[01:54:48.640 --> 01:54:53.120]  and they can say, oh, we're going to freeze your account, you're not authorized to buy
[01:54:53.120 --> 01:54:57.240]  groceries today or you're not authorized to buy gas today.
[01:54:57.240 --> 01:55:02.840]  So they can totally enslave us if they can get a one world currency that's all digits
[01:55:02.840 --> 01:55:05.200]  in an account, electronic currency.
[01:55:05.200 --> 01:55:11.080]  Now if evil prevails, they will accomplish it and will all be their little debt slaves.
[01:55:11.080 --> 01:55:16.320]  If good prevails, the system will purge itself and there'll be a lot of suffering and then
[01:55:16.320 --> 01:55:21.080]  we'll come out with a new system where humanity survives without being slaves.
[01:55:21.080 --> 01:55:22.680]  I don't know how it's going to play out.
[01:55:22.680 --> 01:55:27.760]  I don't know if the evil powers are going to win or if the people that want real freedom
[01:55:27.760 --> 01:55:28.760]  are going to win.
[01:55:28.760 --> 01:55:34.400]  But see, the problem is the power structure of the world has put so many people dependent
[01:55:34.400 --> 01:55:37.600]  on them, they can't survive without them.
[01:55:37.600 --> 01:55:44.040]  If the welfare checks are no good and people get their $700 welfare check for a month and
[01:55:44.040 --> 01:55:47.680]  buy one loaf of bread, well, there's going to be rioting in the street.
[01:55:47.680 --> 01:55:49.080]  They're not going to just sit there and die.
[01:55:49.080 --> 01:55:53.120]  They're going to go out and steal or even people working people.
[01:55:53.120 --> 01:55:59.120]  If all of a sudden gas is $20 a gallon and they can't afford to live, okay, we're going
[01:55:59.120 --> 01:56:02.080]  to see all this stuff happening before it collapses.
[01:56:02.080 --> 01:56:06.320]  More and more people are going to come under austerity measures and there's going to be
[01:56:06.320 --> 01:56:08.920]  a lot of suffering and a lot of people are going to die.
[01:56:08.920 --> 01:56:13.680]  I mean, if the world gets dangerous, a lot of people won't even show up to work anymore
[01:56:13.680 --> 01:56:15.040]  because it's going to be too dangerous.
[01:56:15.040 --> 01:56:18.040]  They're going to stay home and protect their families for as long as possible.
[01:56:18.040 --> 01:56:24.040]  So if people don't show up in hospitals to work, hospital people, they need care by the
[01:56:24.040 --> 01:56:25.200]  minute, by the hour.
[01:56:25.200 --> 01:56:27.040]  They may start dying.
[01:56:27.040 --> 01:56:30.400]  They won't show up for nursing homework and those people can't live more than a day or
[01:56:30.400 --> 01:56:31.400]  two without it.
[01:56:31.400 --> 01:56:36.840]  So welfare people, they may have had generations where they've never worked, no work skills
[01:56:36.840 --> 01:56:37.840]  at all.
[01:56:37.840 --> 01:56:41.160]  They can't go out and get a job and if the money that the government sends them won't
[01:56:41.160 --> 01:56:43.240]  buy enough, they're going to suffer.
[01:56:43.240 --> 01:56:50.080]  So we're going to watch, unfortunately, tremendous amount of suffering as the system purges itself
[01:56:50.080 --> 01:56:55.800]  before we can hit the reset button and start over because the system, there's bubbles
[01:56:55.800 --> 01:57:01.000]  all over the system where we've been operating off of credit and never pay in our bills.
[01:57:01.000 --> 01:57:08.680]  I mean, even legal tender, Randy, legal tender says that basically the theory behind, not
[01:57:08.680 --> 01:57:13.720]  the theory, the practicality behind legal tender is, I can't pay my bills because I
[01:57:13.720 --> 01:57:15.720]  don't have any gold and silver.
[01:57:15.720 --> 01:57:23.680]  So I have to, legal tender says I can give you this Federal Reserve note and I can discharge
[01:57:23.680 --> 01:57:29.280]  the duty, the obligation to pay my debt because I can't pay my debt because the government
[01:57:29.280 --> 01:57:33.040]  stole the gold and silver and demonetized the money supply.
[01:57:33.040 --> 01:57:40.760]  So I have to use this worthless stuff to discharge my liability to pay so we never pay our debts.
[01:57:40.760 --> 01:57:45.160]  We only discharge the liability so you can't sue me for using it because I don't have
[01:57:45.160 --> 01:57:47.160]  any money to pay you.
[01:57:47.160 --> 01:57:52.640]  And so this system is operating worldwide where when you use legal tender and fiat currency,
[01:57:52.640 --> 01:57:59.920]  you are legally discharging the legal liability to pay the debt but the debt is still there
[01:57:59.920 --> 01:58:04.120]  and that system, that's why it's an unsustainable system.
[01:58:04.120 --> 01:58:08.680]  It's going to be a collapse and we're watching it in slow motion right now that's getting
[01:58:08.680 --> 01:58:10.560]  in faster and faster motion.
[01:58:10.560 --> 01:58:13.760]  Well, thank you very much.
[01:58:13.760 --> 01:58:16.080]  Doug, I see you there.
[01:58:16.080 --> 01:58:20.080]  We're going to our top of the outbreak.
[01:58:20.080 --> 01:58:24.400]  We will go to you, Doug, as soon as we come back on the other side.
[01:58:24.400 --> 01:58:27.680]  This is Randy Kelk, David Stevens, Eddie Craig with the radio.
[01:58:27.680 --> 01:58:33.880]  Your call lines are open, 512-646-1984.
[01:58:33.880 --> 01:58:40.720]  Give us a call, see if you can start to say stomp the chomps, but see if you can stomp
[01:58:40.720 --> 01:58:41.720]  the doctor.
[01:58:41.720 --> 01:59:00.400]  Okay, we will be right back on the other side.
[01:59:00.400 --> 01:59:06.480]  Bibles for America is offering absolutely free, a unique study Bible called the New Testament
[01:59:06.480 --> 01:59:07.680]  Recovery Version.
[01:59:07.680 --> 01:59:12.640]  The New Testament Recovery Version has over 9,000 footnotes that explain what the Bible
[01:59:12.640 --> 01:59:18.320]  says verse by verse, helping you to know God and to know the meaning of life.
[01:59:18.320 --> 01:59:21.640]  Order your free copy today from Bibles for America.
[01:59:21.640 --> 01:59:30.600]  Call us toll free at 888-551-0102 or visit us online at bfa.org.
[01:59:30.600 --> 01:59:36.120]  This translation is highly accurate and it comes with over 13,000 cross references, plus
[01:59:36.120 --> 01:59:40.160]  charts and maps and an outline for every book of the Bible.
[01:59:40.160 --> 01:59:42.680]  This is truly a Bible you can understand.
[01:59:42.680 --> 01:59:51.040]  To get your free copy of the New Testament Recovery Version, call us toll free at 888-551-0102.
[01:59:51.040 --> 02:00:09.360]  Or visit us online at bfa.org.