Just they made the blanket assumption that everybody’s in the same boat. Potentially. Look, I don't know whether they believe that this is the solution, or it literally is the only thing they’ve got so they’re just going to do it until it doesn’t work. She is composed. So what's likely to happen is another reset of the system. Of course, you look at this thing that the fed is trying to preserve which Jay Powell has the unfortunate task of attempting to preserve is, a third credit cycle. Tell people about that and anybody you got coming on that you’re really excited about? That’s the financial gods coming back and saying, “this is not how it’s supposed to work”. When I look at really where this is going and where it might go, I don't like sounding like a catastrophist, but I’m somebody who studies these things very carefully and carefully and I was really taken after 2008, probably around 2010. If you live in Cyprus, if you live in Greece, you’ve seen this movie play out in real-time over the last few years. Because they're worried about the psychological effect that's going to have on people. It’s not like a nonzero probability, as you’re saying and yet, people bought them and guess what? I should know that. I posted this thing and immediately into my twitter feed, people were getting into fights with each other. Click the play button below to listen to Chris’ interview with Grant Williams (56m:13s). Energy is much more expensive. So we’ve had these things occur at this point in history. That's the official statistic. But the people who say, we will never have another great depression. But there is clearly confrontation brewing because the millennials now are starting to have voices like AOC who are very appealing to them. I've spoken to…I’ve lost count of how many people spoke I’ve spoken to about this repo market dislocation. So, in your mind, if you were suddenly in Jay's position, what's the plan? You’re not going to get more fish from this ocean. The Pension Benefit Guaranty Corp. and I said, Brad. Here it is November 2nd; starting in September, the fed started to something very unusual. No. But I’m seeing this more and more and I think we’re seeing it in the environmental climate protest that have shown up. The first two I spoke about the answer was dealt with through the gold standard and through the pressure valve of the gold price. It is for the capital owners who own the AI, but for everybody who’s out of work, it creates a different sort of condition. Amidst all this conflict that you and I’ve talked about, the necessity to make sure that we’re still capable of having a dialogue between people and airing opinions and respectfully disagreeing with them, that to me is the biggest sadness I have is that ability is being chipped away at by the day. But it's something that we have to think through as a potential outcome. I’m talking with people from DARPA and I asked a guy directly, what jobs can AI not do? I want to get back to this idea of the social divide. It doesn't map anymore. I think she embodies everything that he isn’t. That’s what we didn’t get in 2008. Don't worry about it. The people who are going to be left to pay the bills are the millennials and the homeland generation after them. But ultimately, we’re all on our own to sift through what we read and we hear and you have to take responsibility for your decisions. That is a lost art and I share your sense that it's got…that divide has gotten wider and it's why I believe we have an intellectual civil war at this point in time. Adam and I were watching this. We just have happened to not have had one for almost 50 years now, so people have forgotten about it. They’re doing whatever it takes, as I said before. So we are creating generations, we will live longer and require more aid from the state. Nobody can actually say what happened. : Tony Bobulinski Provides the Details About the Biden Family Legacy. They are going to foot the bill. What happened? You’d be hard pushed to find a currency outside the US dollar where these two metals haven't made all-time highs and aren’t currently trading at all-time highs. It always ends up to be the thing that brings these cycles to an end, and we’re there again unfortunately. But at least take the time to listen to well-reasoned historical documentation of previous events and then decide for yourself whether you think the past represents the future or not. He’s done a phenomenal job in being the CEO of the company and building this enormous machine. I understand why people are attracted to trading…it trades very well. He calls it the IOUs, the promises of the nation. With a five to seven-year lag and next thing you know, there's a big shortage in there. That's how close we got. But when you talk to the guys like Jamie Dimon, who will tell you that we were this close to the banking system not functioning. Did it fix it? -- has done it again with "Crikey! It's a way of restoring order, restoring sound money, restoring an anchor at the center of the financial system. Grant Williams: One thing that’s been common when talking to people is an increase in not just the number of people who are starting to look at gold, but also the profile. I think it’s coming. They’ve said they’ve looked at it and they said there's nothing here. But just look around the world today. People now can't have conversation anymore, but it’s so critical to be able to have that flexibility of mind to at least step into the other argument and hold it and entertain it even if you step back out and say, I still don't agree with it. I’m not going to bulletproof my portfolio. So if you had gold as a currency allocation as Stan Druckenmiller did for some of your savings, you’re doing just fine. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. And they are big events when they do. Grant Williams: Absolutely I think it is. I was very sympathetic to how that view can come about. So, great career in finance. There, I’ve said it. Buy it gets out into the mid-late 20s. I just don't happen to think that's what gold is for. I'm sure they don’t want to see the links. Well, it’s literally just a few days of fed pocket change is the entire world market for silver. People are starting to think about it and people are starting to allocate to it. So, we will be in that position again and they will have decisions to make and I suspect they’ll make the wrong decisions and then they will have to institute something that restores the sanity of the financial system. This is history rewriting itself again. The fourth turning, which is an 80 cycle. What’s going on with gold? The bottom half. War is a distinct possibility. Not only that, but Grant will include bespoke videos and you'll have access to the full archive of all previous editions of Things That Make You Go Hmmm... Lastly, Things That Make You Go Hmmm… comes with a one-time, 2-issue money back guarantee. They want to own it in case there is some sort of systemic meltdown. One of the things I alerted people to is just the macro picture. They’re trying to avoid these outcomes, which is fine. I worry that that goes further. Because that is the anchor to finance. As I think through the various technological things, yeah, we got the robotics. From that day on, it's almost as if he’s had a peep behind the curtain and he’s seen how bad things are and he realizes that, look, the buck stops with him to keep this thing together now. But that's not to say that the textbooks and the white papers don't make it look like it’s a shoe in. Grant, welcome to the program. We’re all in this together. It’s an insurance policy and to Stan’s point, I think he said it very well. Everything. ECB got in on that. Look, it's an admirable goal, but keeping society together was never one of the mandates of the central bank. This has all happened before. It's not a sales pitch. But it was respectful. You’ve had your savings confiscated by the government or a bail-in. The soils can’t give more than they already have. I'm sure they are willfully blind to the best degree they can, but it's clear. Everything is a cycle. It is the lowest we’ve had in a long, long time and the trend is not reversing anytime soon by the look of things. I mean, something between Russia and the United States or China or something. I won’t get on a 737 Max right now. It is to a large extent what we saw in 1971 when Nixon closed the gold window although didn’t have the same outcome and it didn’t look the same. Unless we do get some miracle growth from somewhere, I just can't see them managing to keep this thing going long enough for that growth to return. It’s helping the poor whether it be writing off student loans, or universal healthcare, or universal basic income. This idea of money for Main Street instead of for Wall Street. Look at how many protests you’re seeing. But Japan when they faltered, the US was growing at a healthy clip. While at the New Orleans Investment Conference this past weekend, Chris and I had the great pleasure of sitting down with Grant Williams, publisher of the economic blog Things That Make You Go Hmmm and principal of Real Vision TV. But in many cases, not all obviously, but in many cases, they were homes that they simply couldn’t afford, anyway. So I said, let's all take a few steps back together. We live in a deflationary environment which when you have this kind of debt level is the kiss of death. It may not happen here in the US until the very end, but to say “it couldn’t happen here” is clearly wrong. They had a massive credit impulse. Because I don’t want to live like this for another 60 odd years. We all know that the inflation is not just above what feds say it is, but it's multiples of it. It’s possible. It was a massive one-off reset that allowed the world to rebuild from a much more solid base. Chris Martenson: Indeed. I think the way the Fed are dealing with is a really interesting example. The point I was trying to make when I did this presentation cry wolf was, if you ask people about the gold standard, they will tell you there’s no way they will institute a gold standard. Then magically, it all goes the other direction. It has all the thing you want in a training vehicle. But they're are possibilities out there, but with each one of them comes the threat that it will actually require more resources, more time and that to me is a concern.

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