gold news

 we're talking about Central Bankers that are running our whole monetary system here why is it that they can be so wrong two you know just weeks before we learn about massive [Music] collapse just to give people a taste of uh to jog their memory of how the 2008 financial crisis so the last time we went through a really big crisis other than covid you know a real financial crisis uh in April of 2007 New Century Financial went bankrupt and people sort of went wow that came out of nowhere that was unusual but it

got papered over you know it got fixed and things went on and it took five more months before there was some other sort of red flag in the economy Bank runs in England and then six months later Bear Sterns collaps so each one one of these was uh sort of fixed papered over government took care of something uh and so six months later but then four months later Indie MAAC and Countrywide Financial collapse and this really starts the ball rolling two months later Fanny May and Freddy Macker nationalized

one week later Leman Brothers one day later so now we're getting into the I mean most people will remember when you woke up and all over the news was uh Leman brothers and then the next day AIG now AIG isn't a bank or a brokerage house that's an insurance company but it had to get bailed out because of the insurance it was making on derivatives and such nine days after that the largest bank failure in US history Washington Mutual and then a month later fed's tarp program and one month after

that City group and one mon month after that General Motors and Chrysler get bailed out and one month after that Bank of America gets uh bailed out and so these things I believe that so that what we saw uh in March of 2023 March and April where we had Silicon Valley signature silvergate um uh First Republic and then uh a few weeks later there was credit swis which if that had actually failed that was a shotgun wedding that the government had arranged between uh credit Swiss and and and uh UBS uh so that the bank wouldn't fail if

it had failed that would have been much bigger that was a truly systemic thing so if they hadn't arranged that merger uh we would have seen the entire world financial system frees up uh and so you know when you're running a whole monetary system based on nothing but credit and that's all the dollars are that exist today they're all credit it's just it's most most of the uh currency Supply is Bank credit uh less than 10% is created by the Federal Reserve and that's Federal Reserve credit it's so JP

Morgan famously said uh that uh gold is money everything else is credit and uh and it is true even to today so this is sort of the way that this played out if you look at the center of all of these circles that Center corresponds to this time scale so you can see that there were problems in the banking sector and then we had Indie uh Indie MAAC and Countrywide right here and then later was Washington Mutual and it sort of cascaded into all of these Banks and then eventually petered out well look at

the very first it the center of the circles again are the the time scale so you had these things happened first and then Indie MAAC and Countrywide and then this big circle look at what has happened already ready and if you would put um uh credit Swiss on this it would be a circle bigger than the height of this entire chart uh so we've already seen this giant crack this tear uh happen in the Global Financial system uh it's big and I believe that the rate hikes and where you know it's

interesting you've got a bundle of dynamite and you've got all these fuses and you light all the fuses at once and it doesn't matter which one gets to the one stick of dynamite first when it goes off all the rest of them go off at once even though their fuses have not burned down to the stick yet and I think that's what we're saying here because we've got you know commercial real estate we've got residential real estate we've got the stock markets and we've got uh bonds

and and then the entire banking sector is on very unstable ground the next chart here before we go before we go on that I'd just like to ask you a question if you could just go back to that to that chart in your opinion I mean when we look at what happened leading up to 2008 uh Ben Bernan uh had said you know that the housing market was fine that the banking industry was fine and and then yeah just weeks before and interestingly enough I mean here we are you know prior to March of this year March 12th weekend when we

learned about Silicon Valley Bank um didn't pal just testify to Congress that the banking industry was okay I I mean what what what am I missing here I mean how how is it that our central banks our Central Bankers our chairmans of the Federal Reserve would am I missing here I mean at what point are they just not looking at the day I mean if I run a business right which I do and you're a smart guy I mean you're probably you know one of the smartest guys I've ever met and because you take the time before you say

something you take the time to research it and and back up what it is that you're saying that you truly know what you're talking about running a business I have to look at financial statements I have to look at comparisons I'm looking at you know my fin cial statements month-to month in comparison to last year and the year before I'm looking at expenditures I'm looking at percentages of costs and uh profits and losses and you know I mean this is just me running a small real estate brokerage here in

the state of Maryland we're talking about Central Bankers that are running our whole monetary system here why is it that they can be so wrong to you know just weak before we learn about massive collapse well there's only two possibilities here one they're lying to us and if they are it's immoral and they belong in jail two they're incompetent and that means that they do not belong in their job so take your choice do they belong in jail or do they belong out of their job uh uh there there those are

the only two possibilities they're either incompetent or they're lying uh and uh I don't sometimes I think they're incompetent but most of the time I I think they're lying so whatever they say I sort of take it and flip it upside down except their lie works for a little while but then when it all unravels and the LI is exposed uh you see the truth so uh to figure out what's really happening I sort of take whatever they're saying and think the inverse but then again you don't know how long

that's going to take to become obvious to everybody