so a recession in high unemployment is

actually going to make a bad inflation

problem worse and the markets just don’t

understand that that’s why the 30-year

bond is still yielding you know 3.6 3.7

percent people don’t realize that

inflation is more likely to be 10 or 15

percent or 20 percent for the next 30


Years the people who are buying these

U.S treasuries are gonna get wiped out

they’re not going to get even close to

compensated for their loss with a 3.7

percent yield you see there’s only two

things that could possibly happen to

Holders of U.S treasuries the government

defaults and doesn’t pay you or the

government wipes you out with inflation

and so the debt is repudiated through

inflation those are the only two uh

options option A is not very likely

because the government doesn’t have the

Integrity for an honest default so

they’re going to go with option b

they’re going to repudiate their

obligations through inflation and the

when the markets figure this out the the

bonds are going to get killed so before

I go and grab your questions is it

possible that this is a head fake could

the FED come out tomorrow and throw cold

water on the idea that they’re thinking

about not hiking or that the next hike

is the last hike they yeah they could

they can try that they can say no we

don’t care if we have a Lehman Brothers

bankrupt we don’t care how many banks go

under we don’t care if we go to

depression as long as inflation is still

above two percent we’re going to keep on

fighting it yeah they can do that you

know now will they do it when push comes

to shove no they of course they won’t do

it but you know they want to keep on

talking about it right I mean they want

to keep talking about you know uh the

house they have in the Hamptons and name

their ponies and while they’re driving

there you know if you don’t get the

Seinfeld reference yeah they they can

take it to its extreme and just pretend

that you know they’re they’re going and

they got that house but I don’t think so

I think once the markets really start to

lead the FED in a particular direction

I think that’s where the FED is going to

go I mean I think the FED likes to

follow the markets the elections are

coming up the midterms are coming up in

November uh we’re getting close to

November so they don’t want the market

imploding I I I I I don’t think the FED

is going to try to walk this back I

think the FED might be happy that this

is happening in fact I pointed out on my

podcast several fomc members

started to backtrack they started saying

maybe we’ve gone a little bit too fast a

little bit too far of course they

haven’t gone far enough they were too

slow that’s the problem and remember the

problem isn’t the rate hikes that’s not

the problem the problem is all the rate

Cuts in the past and not just since

covet all the way back to 2002 the FED

has maintained this policy of

artificially low interest rates for 20

years that is the problem raising

interest rates now just exposes the


and now that the problem is being

exposed people want to shove it back

under the rug well it’s not going to

work so my my point of this is forget

about it even if the markets go against

us again who cares right you you got to

understand the big picture here and

where we’re headed and as far as I’m

concerned people should be all in on

this trade on this anti-dollar despite

this head fake rally you’re betting on

inflation you’re betting against the

Federal Reserve you know they always say

don’t fight the fed well I’m not

actually fighting the FED I am betting

that the Federal Reserve continues to

make mistakes in the future the way it’s

made them in the past and that it will

continue to take the expedient way out

and do whatever it can to postpone a

crisis and and therefore it is going to

you know do what it did after covet it’s

going to do what it did after the 2008

financial crisis even though this money

is this one is much worse so you just

got to go all in on this trade and get

into real and inflation Hedges get into

these foreign stocks get into the mining

stocks get into precious metals get out

of the dollar out of U.S bonds and tune

out a lot of these this noise and don’t

wait until you get an engraved

invitation for the vet you can’t be one

of those guys well I’m going to sit back

and I’m going to wait until the FED

tells me exactly that I can’t lose yes

I’m going to wait for the FED to cut

rates and launch qe5 and then then I’m

gonna sell my dollars then I’m gonna buy

some gold yeah you and everybody else

see the thing is you’ve got to act

before the crowd you’ve got to have

enough sense to anticipate what other

people are going to do in the future and

then you do it now that’s how you make

money I am watching the price of gold

now live moving further above the 1700

level we’re at 1702 30 and silver is

inching up as well at 20.76 and if this

really is the beginning of the turn

we’re going to see some much bigger

updates is in gold and silver than what

we just saw because the 40 move is is

really nothing uh compared to where

we’re going because if people got this

now if they’re starting to figure it out

gold is going way up when they actually

figure it out it’s going much harder

later tonight I’m doing an interview on

CNBC Asia it’s been a long time since

I’ve been on any of these cnbcs I doubt

I’m gonna ever be on CNBC USA in fact I

don’t want to be on that network but the

Asia ones are you know they’re a little

bit different so I’m going to do that

one but I’m doing a Build-A-Bear debate

about gold and the the host sent me a

question well how high is the price of

gold going to go in the next year I said

I don’t know gold can go up 200 an ounce

you can go up two thousand dollars an

ounce it can go up a lot more than that

I don’t know for sure I just know there

is massive upside in the price of gold

because gold is priced for the FED

winning the inflation fight when gold

has to be repriced for the FED losing

the actual price of gold is many

multiples of its current value because

that has major implication when it’s

inflation forever we are living in an

environment where we will have

double-digit inflation every year in

perpetuity for as far as the eye can see

unless it turns into hyperinflation

which will be even worse so all right

here’s the first question thoughts on

gold vaulting services like Kinesis it

can be used to spend vaulted gold via

debit card and get physical I’m out of

I’m not a sponsor by the way yeah I know

quite a bit about Kinesis I have been

researching a lot of these companies

because you know my bank blew up and I’m

I’m not really talking about that yet

because I’m in the middle of litigation

still on that and so the lawyers say hey

don’t really talk about everything and

so a lot of people are probably curious

what’s going on there and believe me I

got a massive story to tell on what

happened there uh but right now I’m kind

of you know keeping it you know on the

down low uh while a lot of this legal

stuff and there’s probably going to be

more lawsuits that I’m going to file so

who knows I can be in litigation for

years uh with other lawsuits not not me

getting sued me suing right because all

the bad stuff was done to me I didn’t do

anything bad but I had a lot of bad

stuff done to me uh by by a lot of

people but so I’ve been looking at a lot

of companies to be honest that are in

fact from what I can tell they have so


the most robust platform I’ve looked at

uh relative to some of the other people

I’m talking to they’re kind of got a

head start on where they are but the

whole idea behind what Kinesis is doing

and what I was trying to do and what

several other companies were doing is

tokenizing goals I mean all these guys

that are in Bitcoin right they’re going

to get wiped out




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