Subscribe
Share
Share
Embed
STARTS AT 9PM ET: Multiple indicators point to an economy on the edge of collapse in China, from the bankruptcy of real estate giant, Evergrande, to major red flags in the shadow banking industry. Join me for an important economic update with Dr. Kir...
STARTS AT 9PM ET: Multiple indicators point to an economy on the edge of collapse in China, from the bankruptcy of real estate giant, Evergrande, to major red flags in the shadow banking industry. Join me for an important economic update with Dr. Kirk Elliott.
To learn more about investing in gold visit - http://goldwithseth.com, or call 720-605-3900
For high quality storable foods and seeds, visit http://heavensharvest.com and use promo code SETH to save 15% on your order.
Save up to 66% at https://MyPillow.com using Promo Code - MAN
LISTEN VIA PODCAST:
Apple: https://apple.co/3bEdO1S
Spotify: https://spoti.fi/3u9k8Vd
Podbean: https://bit.ly/3A4Jasy
iHeart: https://bit.ly/3npOBea
FOLLOW AND WATCH:
Website: https://maninamerica.com/
Telegram: https://t.me/maninamerica
Truth Social: https://truthsocial.com/@maninamerica
Banned.Video: https://banned.video/channel/man-in-america
Rumble: https://rumble.com/c/ManInAmerica
YouTube: https://www.youtube.com/c/maninamerica
Gab: https://gab.com/ManInAmerica
Facebook: https://www.facebook.com/ManInAmerica
Gettr: https://gettr.com/user/maninamerica
Twitter: https://twitter.com/ManInAmericaUS
Parler: https://parler.com/user/ManInAmerica
SafeChat: https://safechat.com/channel/2776713240786468864
Tik Tok: https://www.tiktok.com/@maninamerica2
Instagram: https://www.instagram.com/maninamericaus
Seth Holehouse is a TV personality, YouTuber, podcaster, and patriot who became a household name in 2020 after his video exposing election fraud was tweeted, shared, uploaded, and pinned by President Donald Trump — reaching hundreds of millions worldwide.
Titled The Plot to Steal America, the video was created with a mission to warn Americans about the communist threat to our nation—a mission that’s been at the forefront of Seth’s life for nearly two decades.
After 10 years behind the scenes at The Epoch Times, launching his own show was the logical next step. Since its debut, Seth’s show “Man in America” has garnered 1M+ viewers on a monthly basis as his commitment to bring hope to patriots and to fight communism and socialism grows daily. His guests have included Peter Navarro, Kash Patel, Senator Wendy Rogers, General Michael Flynn, and General Robert Spalding.
He is also a regular speaker at the “ReAwaken America Tour” alongside Eric Trump, Mike Lindell, Gen. Flynn.
Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Holehouse. So I've always talked a lot about China because I think what happens in China greatly affects what happens here in America. And there's been some really significant events unfolding with China's economy. I mean, from all these different indicators, it really looks like their economy is teetering on the brink of collapse.
Seth Holehouse:But there's a lot of questions that arise. How does this weight or how does this relate to the BRICS situation with this potential new currency that we announced this week? How does this relate to our stock market, to our four zero one k's, our pensions that tie together in any way? What about the treasury bonds China's holding? How do those fit into the picture?
Seth Holehouse:So this is I mean, I I really believe that we're at a very significant time period in history. I mean, you can see it all over the place. I mean, whether it's wildfires or COVID two point o or the economic stuff, I mean, is a pretty exciting time to be alive, to say the least. So, anyways, joining us today that helps us make sense of this is doctor Kirk Elliott. We're gonna have a great show, big economic update on this.
Seth Holehouse:Make sure also you're following me on social media Maninamerica, and if you want to listen to the show instead of watch, just go to your favorite podcast app and search for Man in America, and you'll find me there. Alright, folks, enjoy the interview with Doctor. Kirk Elliott. Kirk, as usual, it's good to have you on, How are you doing?
Speaker 2:I'm doing great. It's great to be with you as well. Big week this week. It's gonna be a wild one.
Seth Holehouse:Yeah, it is. I mean, as we're we're heading into bricks, it just feels like, you know, similar to a wildfire that, like, you know, on the verge of starting, there's all these conditions, there's all these different factors, that are lining up, and not necessarily saying that it's like everything points to some giant collapse. Just everything points to a massive change that the it's like the foundation of this old system. It's got like two pillars left, and they're they're eating away at so much that it's like, you know, it could be any day, any month. Mean, at some point, something significant is is going on.
Seth Holehouse:And what's interesting in all of this, this is what I look forward to getting into first with you, is China. So, you know, we know that a lot of people, whether they know it or not, are actually heavily invested in China. A lot of pensions, four zero one k's, you know, all these these kind of bigger managed funds are putting a lot of money into China because, well, I mean, for for some time, you know, China is where you can make a lot of money in their markets. But it's now, you know, you recently in the past couple of years, it's come the come out that, you know, from what I understand that a lot of these companies are just they're lies. Like, they're completely there's tiny little mining companies that are being, you know, pitched up because obviously in China, there's not some regulation with this.
Seth Holehouse:A lot of times the government's in bed with it, so they're gonna help lie to promote it. But there's some crazy stuff happening with the real estate market, with the banking industry in China, that it's like, it makes it look like they're teetering on the edge of a cliff. And so let me pull up an article just to get through a headline, and I want to pass over to you because you can help make sense of what I have a hard time understanding about these situations. So here's a this is a Business Insider India article says a key Chinese shadow bank has missed payments on dozens of investments, and it shows just how bad things are in the world's second largest economy. Then if you dig into it a little more, see if I can find the the other article about the how their whole shadow banking industry that basically there's like this $13,000,000,000,000.84000000000000 yuan shadow banking industry in China, which is also wild.
Seth Holehouse:So anyway, maybe you can help us understand what's going on in China right now because I and also whether or not it would affect life here in America.
Speaker 2:Yeah. Well, so remember back last year, Evergrande, largest real estate development country company in the world went under and it was this contagion that started to impact real estate globally because, and still to this day, so to this day that the ever grand contagion, because of all the real estate that they own, all the real estate going under, they weren't making their interest payments, right? They couldn't make them to the banks that lend it out. Well, this is one Chinese real estate company that actually impacted banks all over the world, which ultimately I think led to part of the liquidity crisis, which is why Silicon Valley Bank went under. Because when you're talking about missing interest payments, when some of the interest payments are like three fifty million dollars a month, 80,000,000 a month, dollars $250,000,000 a month, This is just the interest only that they're missing, right?
Speaker 2:So that's a really big company and it caused banking crisis. That was why one of the impulses that caused the banking crisis globally. Well, now we've got something that's even bigger than Evergreen, right? So when we talk about shadow banking, it's like, what are they invested in? Well, it's shadow banking, it's basically the government run banks.
Speaker 2:Well, they're giving out high yields to supposedly safe investments, right? Okay, note to sell. No bank ever gives out a high yield to a safe investment ever. They always have high yields or imagine like a junk bond, right? So a junk bond has to get a higher yield because you ask yourself, well man, this company, it might not even be around six months or a year from now.
Speaker 2:So therefore we have to actually, if we're asking for debt, not giving up equity, we got to give people a higher rate of return for the risk that they're taking, which is like the opposite of like a junk bond throughout history has been the bellwether US Treasury bond. Why? Because it's America, we have an amazing propensity to pay things back. And even if we can't, we'll just print our way out of it. Right?
Speaker 2:Because we keep raising the debt ceiling. So that's why US treasury is like one of the lowest interest rates on the planet, junk bond the highest. Well, why could these big shadow banks in China be paying out higher yields to supposedly safe investments? It's because they're not necessarily safe, right? So the Chinese real estate market is the largest in the world because they have billion plus people, right?
Speaker 2:It's a huge real estate market. So it takes more than just one bank globally to fund China's real estate market. It takes a lot of them. Like this is why when Evergrande failed, it's like there was a lot of banks that were actually the recipients of all these interest payments that they were actually missing. So, but this time it's bigger.
Speaker 2:I mean, this is so big that it's got kind of global economists all over the world saying, this might be the beginning of the end for global real estate, right? Because this bank, no, Jean G enterprise group, they have a trillion yuan, a trillion, which is a lot of money, right? For a bank to have a lot of debt has to raise assets of more than they have to raise assets of more than a trillion because they have missed payments on dozens of products. Many have been backed by real estate projects in in in China. So so then you've got Liu Tang, chief China economist at Nomura Holdings.
Speaker 2:He just wrote in a report, China's trust wealth management industry is set to face turbulence in the coming months and further headwinds because of weakening economic momentum. And they're not gonna be able to pay this off because just now, Jiangxi's troubles, you know, the the troubled big shadow bank, it sparked protests, leading police to basically clamp down on unhappy clients. It has two seventy products totaling 39,500,000,000 do just this year alone that they're not paying back. And they said basically, we're not going to pay this back. It's just kind of gone.
Speaker 2:So it's like, oh my word, with all these banks that are supposedly receiving payments, they're not gonna be able to pay off what? It's not just real estate that's in fact that's affected. You've got what's what's the nature of China's economy? It's not real estate. Granted, they're the largest real estate on the planet, but it's manufacturing.
Speaker 2:So when you've got banks now that are gonna have missed payments back to them for money that they've lent out, they've already got a capital crisis, which is why this big massive shadow bank can't pay back there because they're missing real estate payments. People can't afford to make their payments. They've run out of capital. So if they've run out of capital, what about steel manufacturers, concrete manufacturers, electronics manufacturers that need short term loans to fund inventory. And these inventory loans are like the basis of the growth of an economy.
Speaker 2:They get short term loans from a bank so they can actually produce the inventory and then they better sell it ninety to one hundred and twenty days because that loan comes due, right? So it's always this float that they're dealing with and always the short term debt. Well, that dries up because banks have no money because of a real estate collapse in China, it's gonna shut down industry, it's gonna shut down manufacturing. And if they can't even keep stuff done at the manufacturing level for inventory loans, for components to build a final product, who buys the final product? Well, Americans, we buy a lot of that stuff, right?
Speaker 2:We're buying TVs and cars and stereos and electronics from Chinese manufacturers and the chip manufacturers aren't gonna be able to get the components that they need for the computer industry. I mean, it's just devastating. You can keep connect connecting dominoes after dominoes after domino. Right? It's it's it's ugly.
Speaker 2:And this all started from what? A real estate shakeout. Right? Because it's the largest real estate country in the world. So as banks start missing payments, when they don't have capital, it has a domino effect to other industries.
Speaker 2:And China's so big, it's not some small like Paraguay, right? It's like where if they had a banking failure there, it's not going to impact the rest of the world. In China, it does because China's tentacles go out to like every country of the world because of all the products that they manufacture, that there's a global clientele for their products. Well, that's going to be impacted with a massive China bank failure.
Seth Holehouse:This does this also relate to why China is basically dumping US treasuries? Right? So here's an article that this is just from this past week. This is on South China Morning Post, which is kind of like the the the main newspaper over out of Hong Kong. I used to read it a lot and I was in Hong Kong saying that China cuts US Treasury holdings to fourteen year low amid persisting security concerns, geopolitical, tension.
Seth Holehouse:It says China cut its holdings of US Treasuries for a third month in a row in June, reducing its stake by 11,000,000,000 to to US 835,000,000,000. And it said that earlier this month, former central bank adviser Yu Yongding called the security of Chinese holdings an increasingly geopolitical issue. So does this also tie in to, like, this shows that, as you mentioned, this is this isn't Paraguay. Right? This is a a country that holds a massive amount of our debt.
Seth Holehouse:So how does that all tie together?
Speaker 2:Well, this is economic warfare 101 is what it is, because if you really want to stick it to the West, and you have, I mean, they still have almost a trillion dollars worth of US treasuries granted it's at a fourteen year low, but it's still a lot. So what if they're willing to say, okay, part of our angle here is we understand it's going to be collateral damage and we actually hurt ourselves by dumping U. S. Treasuries because we're going to have to sell them back at a lower price. But what's the offset?
Speaker 2:The offset would be they're also trying to be the world's reserve currency. So you've got the BRICS nations that are meeting tomorrow, right, on Tuesday to do one of two things. They're they want to announce a BRICS currency, common BRICS currency with over 70% of the world's population that's gonna be backed by gold, or what Putin wants is the BRICS nations, which again, 70% plus of the world's population to do bilateral and multilateral trade arrangements with each other in their own currencies, not the US dollar. See, this hurts the U. S.
Speaker 2:Dollar really bad. So if you're trying to be the world's reserve currency, you can't just step up to the mic and say, we're going to be the world's reserve currency. I mean, they've got a lot of the components, right? Collectively massive economy, collectively huge trading block, which gives them political power and military power with all that. That's what you need to be the world's reserve currency.
Speaker 2:They've got that, but there's a huge problem. The US dollar is still the world's reserve currency. Right? So so you have to actually do two things at once, build yourself up and tear the US dollar down. So with Putin's idea that they're not quite ready for a common BRICS currency backed by gold, but rather let's just do trading back and forth.
Speaker 2:That's the that's the immediate death to the US dollars, the world's reserve currency, because it's such a huge trading block. That's 70% of the world's population realized they're meeting on this idea this week, right? So if they do have a BRICS common currency that's backed by gold, that's the slow death to the dollar, but ultimately the same thing, death of the dollar. 1 is fast, one is slow. We don't know which one they're gonna use, but if they're really economic warfare one zero one, they're gonna kick the US dollar in the tail and say, okay, let's just not trade in it at at at any point.
Speaker 2:But this would actually collaborate with what the IMF had said three or four weeks ago now, which is, hey, if you're a country and you owe another country a debt, you don't have to pay for it in US dollars anymore. When I saw that, it's like, what? They just killed the US dollars, the world's reserve currency. And but who did they give it to? China.
Speaker 2:They said, don't use your currency. Whatever what if it's what if it's Brazil and and India, right, two BRICS nations, not even trading back and forth with their own currencies. They said use the renminbi, which is the Chinese internal currency, right? So they're doing all of this, which would actually boost their own internal currencies, boost their own economies, give their currency strength while at the same time, literally at the same exact time dismantling the US dollar and our strength because we are the reserve currency right now. We are that, right?
Speaker 2:But with no demand for it, what does that force us to do? It forces us to print money like there's no tomorrow to fund our debt, to fund the stimulus, to fund our operations as a country, and that causes more inflation, which is gonna cause more rate hikes down the road. So here's where bottom line, does it make sense for China to take a short term loss and exchange for long term gain by taking a loss, dumping a bunch of US treasuries on the open market, which kills their investment cause they can't get out of it fast enough and it just detracts the value because there's now more supply than there is demand that causes prices to come down. Are they okay with that to actually kill the US dollar so they can be the reserve currency moving forward? Because they saw what it did to America.
Speaker 2:They saw what being the world's reserve currency did to America, made us the the largest, most economically advanced, most powerful nation in the world. Right? So this is kind of what they're looking for. And And it reminds me of the Sun Tzu War Academy stuff, right? It's like the philosophy of Sun Tzu, it's like, okay, if you really wanna defeat your enemy, you build up without them noticing, right?
Speaker 2:So you just kind of lay in the shadows, you build up, you build up, you build up, you make them think that you're weak. And then when they least expect it, you strike and you win, right? That's their strategy. And it appears to me, they've now got the upper hand. And by using that strategy, by dumping US treasuries, they control that card.
Speaker 2:Either they dump them or they don't. But they've already got part of this battle won in essence where they've coaxed these other nations or coerced them or encouraged them, whatever word you wanna use to do bilateral, multilateral trade agreements with each other for petrodollars. It's like what? They're kicking the petrodollar system that's been in effect since 1970s to add stability to the global petroleum base and all these settlements. They're saying, so what?
Speaker 2:So what if that was an international agreement? Just don't do it anymore. What are they gonna do? Right? I mean, that's how they're thinking and that's how they're acting, but that diminishes demand for the dollar almost overnight where what Putin wants to do, even if it's not petro based, anything, any kind of trade between countries and the BRICS nations just don't use the US dollar.
Speaker 2:It's like, look out below dollar collapses, printing money like there's no tomorrow, inflation like nothing we've ever seen yet, which is gonna have to be followed by rising interest rates because if you don't, you end up in an hyperinflationary spiral like we saw in Venezuela or Argentina, right? But but not you raise interest rates really fast to slow down that inflation. You you kill the economy overnight because we have too much debt. It's almost like this catch 22 that they can't win from at this point.
Seth Holehouse:And if you look at these other indicators about China's real estate, their banking industry, I mean, to me, you you mentioned that, you know, they could do something that is more, you know, and and drawn out or something more swift. And I think that, you know, while traditionally, the Chinese and and their military strategy, it's much more about the long game. It's like it's not the fifty year plan, the hundred year plan, the ten year attack. But it seems like, you know, to wage a war over the course of, say, a decade, you have to be able to sustain yourself, and you have to be able to refuel and have supply lines, or especially economically, if they're teetering on the brink of collapse, which there's this is just one indicator that is there's many others that we we're not even talking about, that would make me think that they are even more desperate to make some of these changes happen, because they can't just wait it out and let the dollar slowly die. They're gonna have to take much more aggressive measures similar to why, you know, countries will go to war.
Seth Holehouse:Right? If a country is teetering on the brink of collapse, it's risky. But at that point, sometimes going to war and turning over to a war economy can be the thing that actually saves that country's economy and gets them going because it's it's almost like it's a reset. You're flipping a switch, and you're starting over. And that's that that worries me, though, because I think that they're they would be much more likely to take the more aggressive and maybe desperate move, which could be the most damaging to themselves, but also to us.
Speaker 2:Well, I agree. I mean, and I think we will see even if they are ready for the BRICS common currency backed by gold. I think they're probably, I mean, is just a guess. If they don't just do that right away, they'll say, this is where we're going, but the ultimate would be much better for them quite honestly and much worse for us. So why wouldn't you if you're trying to win a war, if you're trying to win this, not just the battle, but the entire war and have a complete reset of the global financial system, why not?
Speaker 2:See why they have to do it is, well, we're just finding out over the weekend about the the massive decline of the shadow bank and of Chinese real estate. It was never fixed after Evergrande. It's just hidden for a while. It's rearing its ugly head. What we also found out last week was the Russian ruble is down 30% year to date against the US dollar.
Speaker 2:Their economy is just crumbling. It's in shambles. Right? So so you look at both China and Russia, economies tanking. What can they do quickly to actually try to offset that?
Speaker 2:Well, how about they do what they're going to do trading anything but the US dollar and encourage other countries to do the same. See, if I were a marketer for them, would have this bricks meeting tomorrow and I would say, hey, rest of the world, we've got it going on. We've got military might, we've got all this gold backing our currency, we've got a chance to actually defeat the West, join a winning team, there's power in numbers, right? I mean, this is how I would promote it if I were them. And I think that's what they're going to do because they're not stupid.
Speaker 2:They've got economists that are seeing it like we see it. They know that this is the pendulum shifting moment in the global economy. And it's not necessarily a do or die situation. However, it is, we have a chance right now to strike and actually do serious damage because America is falling apart, inflationary pressures, political chaos, their president, former president is actually being indicted like a bajillion times over a bunch of crazy charges. You've got a current person acting as the president who's basically saying, you know what, come October, think we're going to have to do mask mandates again, gonna have to put travel restrictions on because there's another variant of COVID that's gonna be just as bad as the first one.
Speaker 2:So already planning for something even though it's not even here, right? You've got basically potential emergency authority because of climate change that they're talking about. It's like every single crisis under the book, they're gonna throw out right now to get the government more power, taking over the banking system. And now that America's all preoccupied willing to give up their freedoms, if I were China, I would say, or Russia, I would say, let's do it now. Everyone's preoccupied with just surviving.
Speaker 2:Nobody's actually gonna care. We've got a president in power there. That's not Trump. That's not Reagan. Who's not gonna oppose us if we try to take away the world's reserve currency status because they because their current president Biden has already said what?
Speaker 2:He's already said, I care more about the global economy than I do the domestic one, which he said that prior to any of the things happening that we're seeing today, this was done in October of last year when asked about the demise of the dollar and he said, I'm not care, I don't care about the demise of the dollar, I care about the health of the global economy because it's bigger, right? And then during the debt ceiling talks, he would say, we we just have to keep raising the debt ceiling because then and now he's giving funds to Ukraine. He's more concerned about the global economy and and countries rather than his own people. So China and Putin, know, Xi and Putin are seeing this and saying, time to strike. We're not gonna get any opposition politically if we do something right now.
Speaker 2:In fact, maybe we'll even get support. Right? I mean, this is the the weirdness of the country that we're living in where we are so politically weak right now internationally that you've got countries that are actually actually have a good shot at taking away the reserve currency status of the US dollar, which would change our lives forever.
Seth Holehouse:It absolutely would. And actually, so I want to jump into another article here that I came across this morning when researching and because there's a lot of discussions about this and, you know, whether it's the stock market, what's happening with that, you know, Michael Burry's predictions, what's happening with bricks and the dollar and precious metals. And, you know but I think that there's you you can only hear so much of it before you start asking, okay, what do you actually do? You know, like, what what what is this? And we've also got the the giant topic of central bank digital currency.
Seth Holehouse:So I'm just gonna I I went through and I highlighted a couple of things for this. There was this article that was published just today on zero hedge, because I think that it goes into more of just the nuts and bolts. And it puts I think that this, you know, elements of this article describe what's happening right now accurately in in very simple and limited words. So this author says, I've been referring to September as a month to watch when it comes to the complete economic disaster that's about to befall the Western world. So he's this guy's also been following a lot of things that we've been talking about.
Seth Holehouse:Look, it's not a recession. It's not this. It's it's the the end of a banking system. So he says that September will be the start, the boiling point at which any and all future additions will increase the likelihood and the severity of explosion. So he says these additions will add up to an economic meltdown intended to usher in the central bank digital currency.
Seth Holehouse:Again, Kirk, as you and have talked about, like, I suspect that they're doing this on purpose. They want the system to collapse because they wanna come in with a solution as with everything. She says, here's what's fueling my my prognostication. In late August, the BRICS nations will unveil their gold or commodity backed currency, something that will have an impact on the value of the dollar and its status as a world reserve currency used by the BIS, Bank of International Settlements, to settle most trades worldwide. That monopoly will end, and with it, trillions of dollars in international trades will be done without US participation for the first time since World War two.
Seth Holehouse:The US has already lost the petrodollar to the the yuan and ruble, thanks largely to Saudi Arabia and OPEC, and the fact that no one trusts The US with Biden in charge of it because he lies, and a lot of other things too. Then he goes in talking about, you know, the the turbo boost towards zero. Basically, congress is is spending nonstop. Right? He says that the the basically saying that this is a good point.
Seth Holehouse:He said that Congress can't stop spending and can't stop can't stand up to globalist demands to destroy our economy, our power grid, our self sufficiency. The reasons for that are that they are largely the same political party and not concerned with the overall economic health of the nation, but rather how they get their piece of the dying elephant in the room. And he says, and this is what you are talking about at the same time, there's another surprise for all those people who believe they're saving for retirement in four zero one k's and pension funds. Those funds are largely invested in China, who's currently teetering on economic disaster itself based on its looming real estate crisis, banking instability, and struggling exports, and therefore industrial activity. So he comes down to the bottom here, and this is an important point he makes.
Seth Holehouse:He goes, I don't know the timeline to catastrophe because I don't know how well they can put lipstick on a pig or how long that lipstick will last, but with the accumulation of economic red flags swirling in the air, it only takes one of these fundamental collapses to set up the whole thing. And that's such an important paragraph because, you know, a lot of folks, you know, read the comments of this or other shows, they'll say, you know, you keep saying there's gonna be this collapse, but doesn't happen, therefore, you're wrong. Therefore, it's not going to happen. And I think that he's made a good point. It's like, they're putting lipstick on the pig, they're they keep covering up, and no one knows how long they can keep covering us up, how long they can keep putting lipstick on the pig, or how well it's gonna last.
Seth Holehouse:But there's all these economic red flags. So he continues, there's only a few more sentences left. It says no matter how bad it gets, the answer you will be offered will be central bank digital currencies, but it won't actually solve anything except how the globalists are a will be able to control you. The only true answer to any of this economic stupidity is to refuse payment for labor and CBDCs and requiring dollars and either silver or gold. The government will always offer you nowhere to go with your complaints or demands.
Seth Holehouse:You see that now with the election results. They just can't seem to take the time to adequately vet every vote for legitimacy even two or three years after the fact, but they could. When they won't, they show you that they're part of the problem. Do not work to get paid in their central bank digital currencies, just do not do it. If it's a big enough percent if a big enough percentage refuse to work for compensation in central bank digital currencies, they will find a way to pay us in a currency that doesn't enslave us.
Seth Holehouse:So anyway, a lot of reading there, I just think that that just there were such good points in that. And I really want to hear your thoughts on it.
Speaker 2:Well, so reading through that, you know, just carefully listening and you listed off four or five things, you know, that are impending. Any one of those could cause an economic collapse, any one of them, but yet they're all kind of happening at the same time, right? So this is where the magnitude of the collapse could be absolutely devastating. Now people think, then kind of fast forward to where you talked to at the end of that, of people think that there's no hope, they've lost hope, they don't think that there's a solution, right? It's like, how can we escape central bank digital currency?
Speaker 2:Well, you can. Not saying it's going to be easy. And for some of us, it's going to be a really difficult decision because what if central bank digital currency is tied to your social security payments, your income, right? And it's like, well, you have to take the Fed Now app and be part of our system. If you want your debits and credits from the US government, what are you gonna do?
Speaker 2:I mean, you might be a patriot just like you and I are Seth. And it's like come down to, am I going to receive income and feed my family or not? That's a very difficult decision. It's probably not as easy for somebody to just say, well, just don't do it then. Just don't take it, Right?
Speaker 2:Because what if there isn't any alternative solutions yet? Right? So I think what's coming down the road will be solutions. Right? I think there's going to have state chartered banks getting out of the Federal Reserve system, getting out of FDIC, not being participating in the Fed Now app.
Speaker 2:I think that's coming, but that's future tense. It's not here yet, right? So what if this were to happen tomorrow? Well, then what? Well, this is where kind of like Gandhi almost, it's just like civil disobedience.
Speaker 2:Just don't don't take it. Just go into the store with your gold, your silver, or your paper dollars and use them. Say, look, this is still the tender of the land. I'm gonna use it. You want your money, take it, right?
Speaker 2:I mean, at some point you have enough opposition to a system and it won't last. If there's no demand for something, I don't care if they're trying to force it down your throat, it's not going to last. What is going to last? Whatever we give attention to, whatever we focus on is what will last. So you could, let's boil it down to like it's elemental reasoning why I say that.
Speaker 2:Say you're having marriage problems, relationship problems with your spouse. So you could either say, I'm gonna focus on this marriage, I'm gonna focus on communication, we're gonna make it work. Because I'm not gonna focus. I'm gonna focus on myself. I'm gonna focus on going hunting or going fishing or spending all of our money or doing whatever, right?
Speaker 2:So you will get what you focus on, right? Same thing with money. You focus and give your attention to doing it the way that you envision it to be, which would be, I'm going to use cash, I am going to use silver, I'm going to bring it into the merchants and use it. And if across the board that happens, what wins? The alternative economic system, not the one that they're forcing down our throats, right?
Speaker 2:So a lot of this, how this plays out truly is up to us, right? It really is, Right? But but you can't even play that game if you don't have the tools to do it. Right? You you have to have silver.
Speaker 2:You have to have gold, but I would do silver. It's much easier to barter in silver than it is with gold. Right? I mean, heard and the kind that you go into is very important. You wanna do low premium bullion, don't do anything that's high premium, A, you never catch up, capture a premium out of when you're bartering for it anyways.
Speaker 2:But I heard a horror story this morning from a client that lives in Hawaii. The house burned down and had silver in it from wildfires there, and it melted into a big blob. That's all it was. It was just a big blob of silver. So we the depository, they'll take the big blob of silver, they'll re refine it, make it into bullion.
Speaker 2:You don't really lose that much because it was bullion to begin with. But what if you would have purchased a bunch of high end semi numismatic rare coins, collectible coins, peace dollars, Morgan dollars that you might pay a $100 1 hundred and 50 dollars an ounce for, or even some kind of a government issued coin like an Eagle or a Maple Leaf or a Krugerrand that you'd pay $60 an ounce for not even the high end stuff. Well, silver is at $23 an ounce, right? So a silver round, for example, that you would use for BARDA, this was the point of this whole story. You can get for like $28 an ounce.
Speaker 2:So even if you had to melt it down and put it into something, you're not losing that much, right? Even a silver Eagle or a Canadian maple leaf that you're paying sick, it's like, man, I just lost half, more than half because I'm not refinery that melts it all down into liquid silver again doesn't care if it was a minted coin, doesn't care if it was a coin that was minted two hundred years ago and it's got a high premium. It all boils down to the same exact price in its raw form. So that's why it does matter what you own in a barter world and using that poor client switch, it actually brought, made my eyes tear up this morning, it's like, man, but it wasn't too bad because you bought bullion and it doesn't cut maybe a few percent whatever to actually get it reconverted back into something else. But it's not like you lost everything that you've accumulated, right?
Speaker 2:Yeah, it's going to be something to remanufacture it, but it's not going to be the end of the world. So this is where people think the end of the world is coming. I'm going to get small fractional non reportable. And I'm even hearing lies of you don't have to pay taxes on collectible stuff and you don't have to pay taxes on anything that's considered a currency. It's like, okay, note to sell.
Speaker 2:These are lies from dealers, right? They're just absolute blatant lies. Try not paying taxes and see what happens. I'm not saying I don't like doing it, but if you don't, you're going to get in big trouble. Now, when they say that you don't have to pay tax on currency transactions, well, they're kind of right.
Speaker 2:So like a piece dollar or a Morgan dollar, maybe they're a hundred dollars each, but what's the face value? $1. Why would you use that as currency? You have to use the face value. I mean, you could technically use it, go to a bank, trade it back and forth for a buck or pre $19.65 dimes quarters and halves.
Speaker 2:Right? Bring those to the to the bank at 25¢ for a quarter, but there's actually over $4 silver in it. Why would you use it as the face value as currency? So you don't have to pay tax on it? No, you get the capital gain, you pay your taxes on it, right?
Speaker 2:So there's so much misinformation, so many lies out there that really all I can say is never overpay for something bullion, bullion, bullion, get cheap low cost stuff for barter or for investment, if you're investing, because we just went over two examples where premium would have hosed you, right? You're never gonna get out of that in a barter scenario and this poor client whose house burned down in a fire, they would have lost all the excess premium, because when it boils right down to it, it's just a piece of silver, right? So here's where though, going back to the initial statement, civil disobedience kind of, right? Is like, just use what you've got as currency and see if the merchants will take it, right? But across the board, if that happens, if that's what we focus on, if that's what we give our attention to, that's the system that will last if enough people get on board and do it.
Speaker 2:I think that's a reasonable thought. It's a reasonable solution. This happened in Europe way back in the day when the Euro became a thing, right? Prior to that, they're trading in Marks, Franks and Swiss Franc and Lira and I mean, all these different countries had their own currencies turned into the Euro. For a while, they were parallel trading.
Speaker 2:You'd go into a merchant in Germany, it's like, I'm going use the market, you're to use euros. I have we don't care, use whichever one. Right? Ultimately though, the euro won because people gave attention and momentum to it. If they would have refused back then, you wouldn't have had the euro and countries would have still maintained their sovereignty.
Speaker 2:You know, we're going to see the same thing here. How we end up is basically up to us.
Seth Holehouse:You know, it's an interesting point of saying closing about the silver in Hawaii. We can see that we're entering into a season of disaster, whether it's weather warfare, wildfires, COVID pandemics, floods, chemical spills. I mean, it's like the plan is accelerating. And using that example of being in Hawaii, let's just say that that person had a hundred thousand dollars in silver, it's like, let's play through the scenarios because it's a very healthy way to look at it. So eat it their their house got melted.
Seth Holehouse:It's like their silver is still there. If that was a hundred grand in cash sitting in a a box in the closet, it's done. It's it's dust. It's poof. If that was a hundred grand in crypto, let's just say, hypothetically, right?
Seth Holehouse:Like, there's this could have been a situation where the Internet could be down for thirty days, if it's a big enough crisis. So it's like, if you can't access your Coinbase app, what do do with that crypto? Or say you have to take some money to go buy some supplies locally. You know, if you if you can't load that, how you transact? Also, think about this.
Seth Holehouse:Let's just say that money was sitting in the bank, that local bank in in, you know, in Maui. Do you think you can go in the next day after that wildfire and withdraw your hundred grand cash because you need it to kind of survive the next stage? You'd be lucky if they'd give you anything because they're probably long lines of people wanting to pull cash out. Right? So just it just goes to show it's like you can't even destroy it.
Seth Holehouse:It's like you could have you could actually dig up your, your your house and find that block of silver and chip off a, you know, an ounce of it and trade it for something, you know, just just an interesting scenario. So so Kirk, we're nearing the end of our our show. I just wanna pull up the you know, if folks if you wanna work with with Kirk, if you wanna get gold, silver, do IRA transfers, the whole nine yards, I mean, Kirk's a good friend of mine, and, you know, you've been very transparent about your pricing. There's no hidden stuff. There's no it's just your whole philosophy is maximize ounces.
Seth Holehouse:Any gold and silver deal is not telling you that exact same thing. I would run-in the opposite direction, because it's like it's look, it's all about maximizing how many physical ounces because you're right, that fire leaves, what matters is how much does that big chunk of melted silver weigh, like that's where your asset is. So, folks, we've got a website set up goldwithseth.com, you can go to your school, scroll down, there's a little form you fill out real simple, you set up meeting with Kirk or one of his team, or you just call (720) 605-3900. It's (720) 605-3900. is one of the people that has helped has helped support what I'm doing, and when you work with Kirk, you're also helping support the Man in America show, which is what keeps us on air.
Seth Holehouse:Because this is what my wife and I both do full time, these people that occasionally you see these comments in Rumble, why do you have advertising? It's like, I quite shut down my business to do this. Like, my wife and I literally have no other source of income, but what we've done is we took a leap of faith. It's like, look, this is what we felt we're supposed to be doing. And we've like, it's just it's really important to get this information out to people.
Seth Holehouse:So that's why we're here. Kirk, thank you for that. And I guess we'll see you next week. Any final thoughts or final words for folks before we sign off?
Speaker 2:You know, this is a big week, just watch the news. You know, if it's, we're telling you what we think is going to happen, it's going to probably go one of two ways in the BRICS nations. Something else comes up, something unforeseen, you know what, we'll have a special update, right? So we'll make sure that we get the information out to you because to me this is like a watershed week. I mean, is a potential change in the global currency system as we know it.
Speaker 2:And you know what, currency is currency, we'll always have something. It's not like we're talking about the end of the world, but what we could be talking about is life as we know it in America changing almost overnight, right? So if we navigate through it with success and with strategic analysis and figure out what is going to last, what is going to survive? What can we do to thrive if the currency system of the world changes? That's what we're doing.
Speaker 2:And this is why we have so many clients all over the world, literally tens of thousands of them with a smile on their face. It's like, we protected, we're thriving. Yeah. So so be it China, do what you're gonna do. It's only going to grow our portfolio if you do what you're going to do.
Speaker 2:So, so this is where we can help and really bring peace into a turmoil type filled situation.
Seth Holehouse:Great. Well, Kirk, thank you so much. We'll see you next week, and maybe we'll do a special episode later this week. Alright?