May 9, 2023 - The Truth Central - Dr. Jerome Corsi
34:39
Reparations, Fiat Currency, Wind Turbines, EVs: The Math Does Not Add Up
California's reparations are going to be costly if they actually become reality after the state defaulted on serious debt -- all for Woke Points and votes. EVs are reportedly a poorer investment than previously suspected as they lose resale value much more quickly than their gasoline-powered counterparts while the actual use of wind turbines is subject to a difficult and unsolved mathematical issue. All this is happening while five more oil-producing nations are economically allying with the BRICS as our dollar continues to fall.Dr. Jerome Corsi unravels these issues on today's The Truth Central1MyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: The MacMillan Agency - The Truth CentralPro Rapid Review: https://prorrt.com/thetruthcentralmembers/elBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
and uh... happy to be with you thank you for joining us let's get out right into the news a lot
are going on right now First story I want to cover has to do with this California reparations, which we've been following.
California is the first state to have this reparations task force.
It was appointed by Governor Newsom and it's basically to do reparations to the descendants of the former slaves.
They voted on Saturday Pay as much as $800 billion to the descendants of enslaved or free black people who were in the United States by the end of the 19th century.
That's two and a half times the size of California's annual budget.
Each recipient could make as much as $1.2 million.
The committee is also recommending the elimination of credit card debt, car and student loans, a string of Other tax breaks and 250 years of special benefits for African-Americans, including a guaranteed income of $97,000 a year, adjusted for inflation, and the ability to buy a home for $1.
That's according to Rowena Itchon of the Pacific Research Institute.
The article goes links, you can read the original.
Reparations are not only morally justified, but have the potential to address longstanding racial disparities and inequities.
That's what Representative Barbara Lee, who's a Democrat in the House of Representatives for California, said attending the meeting.
Well, I mean, this is, you know, the issue fundamentally is the economic cost and the bankruptcy that this will cause, which does not seem to bother California.
But if we go down this path, And try to redress all the sins of the past, and slavery was one of the greatest sins of the past, and there's no doubt about it.
But again, the United States and Great Britain were the first two countries to outlaw slavery and took a civil war to do so.
Abraham Lincoln basically redefined the Declaration of Independence by making it clear that all were born equal.
And it's Gettysburg Address.
So again, this is a rewriting of history, which is the neo-Marxist, very destructive, in the sense that it is economically intended to ultimately destroy capitalism.
This is one of the arguments to have a new book coming out, which is the follow-up to The Truth About Energy, Global Warming, and Climate Change.
The new book is going to be the truth about Neo-Marxism, cultural Maoism, and anarchy, the political philosophy behind this movement, and it's really about destroying capitalism.
That's what it's about, and intended to utilize these racial divisions and other divisions in order to mobilize society in a negative way.
It's not going to benefit anyone to intensify these racial divisions.
The next article I want to cover is Stolz and Nitzen, who was the famous celebrated Russian writer, who in the 1980s, he won the Templeton Prize, and he gave a speech.
And what he said is basically that, I'll just read a tiny little bit of his speech.
He said, over a half century ago, while I was still a child, I recall hearing a number of people offering the following appreciations for the great disasters That's why all this has happened.
Well, I think that's, again, the truth.
And the speech is well worth reading.
I've got the links here on the article to read the speech.
I encourage you to do so.
He said, um, he said, since then I've spent 50 years working on the history of our revolution.
In the process, I've I'll read hundreds of times, collected hundreds of personal testimonies, et cetera.
I've written eight volumes.
And he was asked today, what's the main cause?
He said, men have forgotten God.
That's why all this has happened.
Well, again, in the spirit of 2 Chronicles 7-14, we need to get back on our knees and beg God's forgiveness for not having intervened sooner.
By the way, New York State is going to revise all of its reading courses because they're saying it's some astounding percentage.
It was in the New York Times today, I happened to notice that some astounding percentage of kids in the public schools can't read.
New York is gonna change the way they teach schools because half the children in grades three to eight fail reading proficiency tests.
Well, I mean, this is the kind of thing we're going through right now.
It's really insanity.
We're doing reparations.
Kids can't read.
They're being taught in the schools about sex.
It might be nice if we taught them how to read, write, and do arithmetic.
That used to be the fundamentals of education.
We've got a lot to cover today, and I want to cover a couple more stories.
I'm going to ask Chris to comment in a minute or two, but first I want to cover this one on the electric cars are losing their value twice as fast as gas vehicles.
Now, there's a lot of information coming out, I think, recently, increasingly, as people are actually using these EVs.
And they're trendy.
We've got very slick commercials on television.
It's the popular, politically correct, that we should all go to electricity.
By the way, if we all want electricity, there's not enough electricity in the world to support a completely electric world.
Where's the electricity come from?
Largely, hydrocarbon fuels generate the electricity.
Still, about 85% of all the energy in the United States is hydrocarbon fuels.
But what these studies are showing now, and there's getting to be an increasing number of studies, is that EVs are not worth the money.
It's being reported both in the United States and in Great Britain.
And it's contrary to all the left-wing advertising and the mainstream media propaganda.
But EVs depreciated twice the rate of gas-powered cars, according to a new study, from choosemycar.com. The researchers found that EVs
depreciate at double the rate of gas-powered cars, making them expensive and a bad investment over the
long run. I'm just reading a little bit On the average, EVs lost 51% of their purchase value in a three-year period of time between 2020 and 2023 compared to gas-powered cars in the same period of time that lost 37% of their value on average.
So that's 51% loss for EVs of their value in the three years since purchase versus 37% for gas-powered cars.
Study found That the higher the original purchase price of the car, the greater loss in the value.
One of the worst offenders is the Tesla Model S, which they say is in over, it's not characterized particularly fondly, but it lost 32% of its value in three years.
And the point is that as you look at this, You're seeing that EVs essentially are difficult to maintain.
Batteries do get old.
They can be subject to burning.
The fires are very hard to put out for the fire departments.
The percentage of the American shoppers that are very unlikely to consider purchasing an EV in the next 12 months reached 21% in March, up 2% from the 19% the prior month, according to J.D.
Power, which is one of the better respected rating companies.
This is a very unlikely response.
This is the highest.
We're unlikely to buy one of these that J.D.
Powers has ever seen.
Americans don't want them because it has nothing to do with price and charging.
Basically, the cars themselves are extremely expensive, the electricity costs are increasing, and the time it takes to refuel them, all these are factors.
Limited driving distance per charge and time required to charge were frequently cited with 43 and 41 percent of respondents in these studies that were done.
And I think you can find that basically, we are in a situation right now where, if you take a look at these electric vehicles, they are, I reported it consistently, if they stop, you can't move them, they don't roll like a gas powered car does, can't put it in neutral and roll it around, they are, Extremely difficult if you want to travel long distances.
And you've gotta find a charging station that works, and is open, and is free.
As more people are driving these cars, we're lagging behind in the charging stations.
They're a trendy idea, and what I'm predicting is that they aren't gonna last very long, because again, we're looking at a whole series of ideas here, which are in the popular vogue.
This whole critical theory, Which is essentially Neo-Marxism, attacking the United States.
We've taught our children, Solzhenitsyn points this out, we're teaching our children to hate the country.
I mean, the United States is self-destructing, and I'm saying that the economics we're going through now are also self-destructing.
The other story I'm following very closely is this debt ceiling, and it has to be done very quickly.
It has to be done basically this month.
The United States has hit the debt ceiling with over 30 trillion now in debt.
The Democrats are planning to spend more.
So they want to raise, just raise the debt ceiling and print more money.
And what this is doing is it's undermining our currency as we're going into stagflation, which I think will be a very serious recession, if not more than that.
it'll hit globally, at the same time inflation's gonna continue because the
inflation is not caused by huge demand in the economy, it's caused by so
much of the money supply. We have so much money being printed and given out and
now people are getting used to money being given out. Reparations are the new
plea for money for the government, you know, government money for free which is
is a great idea if you're the recipient of the money.
But the fact is, it doesn't last.
Because nothing that has this much debt behind it is going to be solvent long term, including the banking system.
Chris, would you like to comment on this much so far?
Well, those electric vehicles are impractical.
The printing of money is impractical.
And just raising the debt ceiling is impractical without tying it to more responsible spending in the future.
It's come to a head.
That's the big argument.
I hear Karine Jean-Pierre keep yapping on with the same buzzwords over and over.
Watching these press conferences when being asked, hey, isn't Biden going to sit down and at least talk spitting?
And she just goes on and on about how it's our duty, we have to pay our bills and everything else.
Running around in circles when in fact, the question really is, is the government going to, moving forward, because of our economic situation, Take part in responsible spending and cut some of the COVID spending down too because we don't need a lot of the things that were, I would say, handed out back during the COVID era when more people were unemployed due to circumstances.
The problem is once you give this money out, how do you stop?
Exactly.
You can't give back, you can't take back an entitlement.
And, you know, so much of our budget right now is this non-discretionary spending where we've got Social Security and Medicare taking up increasing percentages of the national budget.
And that's not going to stop.
And how do you take those away?
That's the problem.
And again, this goes back to the Cloward-Piven theory, which was, these were two sociologists at Columbia University in the 60s and 70s, and they said the way to destroy communism is just simply to put these spending programs in, all based on guilt or need, and they have legitimate reasons.
I'm not saying that these aren't legitimate causes.
You know, I mean, clearly slaves did suffer.
I mean, we can't go back and redo everything in history.
And the Obama, Biden, this whole left is operating under this modern monetary theory, which is kind of the epitome of Of fiat currency.
In other words, since the currency is fiat, we can just print more money to pay off the debt.
Well, you know, that's a, that's a fun idea.
You know, we don't have to ever, we'll just print more money.
But I do want to skip to one of the stories ahead.
I mean, I'm going to do a little bit out of order here for a minute, Chris, because I think it's relevant here.
I want to do the stories about the oil producing nations asking to join the BRICS Alliance.
The BRICS Alliance is Brazil, Russia, India, China, and South Africa.
They're having an annual meeting.
It's going to be the first week in June in South Africa.
Nineteen nations want to join.
This block, including five of the oil-producing nations, Saudi Arabia, United Arab Emirates, Algeria, Egypt, Bahrain, and Iran.
I guess that's six countries really wanting to join it.
But basically what they're saying is, the idea here of anti-US, that they're moving, these countries are also de-dollarizing.
And you're getting the formation here of a fundamental change in international finance, which is going to affect the living standards of every American.
Essentially, the BRIC nations now account for 40% of global population and around 25% of global GDP.
That will change over time.
It will have increasing share of GDP. India is now challenging China as one of the
major manufacturing nations of the world. The greenback, the dollar, has become more unreliable
and there's a de-dollarization going on because the economies, the United States economy,
is having rising interest rates.
I'm not sure the Fed's going to be able to pause increasing rates in June.
We just came out with a jobs report, more jobs are being created.
I'm not sure if that's a legitimate report with so many layoffs going on.
But again, I don't think the Fed is going to be able to control inflation.
And it's a complete artifact of the amount of money being printed.
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And you need to have tangible value because the key issue is your dollars are gonna depreciate.
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Gold doubled in the last two economic crises we had.
Those were the 70s with the oil crisis.
We've got an energy crisis again, 2008-2009, when the banks failed because of the collapse of the mortgage market, the subprime mortgage market.
It's happening again.
We're having a collapse of the commercial real estate, and with 6.5% mortgage rates, the housing market is also going to go into stagflation.
The prices are high.
Even renters don't want to lower their rent rates.
They don't want to take in less for the renters they have, even if it means that the properties for rent don't get rented.
They're not gonna lower their price very quickly.
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Okay, let's go back to the news.
The next story I want to cover Let's go back to the global warming issues.
Because we've got two stories.
Additionally, the American transit systems, all of our transit systems, public transit systems across the country, are losing money.
There's been a dramatic decline in ridership since the pandemic and the lockdown.
Some of the largest cities have basically less than 70% of their pandemic traffic.
And it's being covered also by Politico, Despite being rescued with $55 billion in federal COVID money in 2020 and 2021, the nation's largest transit systems will soon need to find billions of dollars a year just to stay in operation.
That's transportation systems from Los Angeles to New Jersey.
And I'm increasingly reading stories in New York where the subways just aren't safe.
People are getting to be afraid to get into public transportation because they'll be accosted.
The radical left has again decided to invade the transit systems.
In San Francisco, BART, Bay Area Rapid Transit System, is down 60% compared to pandemic levels.
Essentially, federal money is provided for about 15% of transit budgets for public transit, but it's not enough if the riders aren't there.
And again, if the nation doesn't feel safe in the cities, it's another reason why the five-day work week is going away.
It's another reason why the commercial real estate buildings are largely getting to be vacant, up to 40% vacancy in cities like New York, Chicago, etc.
And fundamentally, this is gonna be a non-supportable economic situation.
It'll just take more money.
And if we get more money, the United States is gonna fundamentally lose its status as a reserve currency, and we're gonna go into stagflation.
So I'm encouraging all of you to get some tangible value in gold.
Pay off your debts.
You better be prepared for a big storm, because one is coming.
All right, now this next story, and I've been arguing this in my book about, this fits, is completely compatible with my book about the truth about energy, global warming, and climate change.
There's a new study that was done, published in a physics magazine, and essentially what they're saying is that there's actually a $1 million Millennium Prize offered, and I've got the link to it here, basically for solving some equations It's a Millennium Prize that's available for a formula for wind turbulence that has never been solved.
You see, we can't predict wind turbulence.
We can't predict climate because the mathematical models are extremely complex and they're nonlinear.
In other words, if you understand the linear math and nonlinear math, nonlinear math is particularly difficult because the variables interact.
So, one time it may produce this result, X result, another time it may produce a completely different result, because the interrelationship between the variables has changed.
So, in its simplest form, wind turbines are easy to understand.
The wind blows, turbine spins, the generator is rotated, and energy is produced.
Simple.
But the problem is that turbulence messes up all of these straightforward calculations.
Because it not only decreases, the turbulence can decrease the amount of power produced on any given day.
And if the wind blows through a group of turbines, it can even strip away energy from the entire farm.
Okay, so it's like fluid dynamics.
If you've ever studied the mathematics of fluid dynamics, they're extremely complex.
Because, and they're largely unsolved.
We don't have mathematical models that really predict them at all.
Maybe in quantum computers we'll be able to do better.
But for instance, they're finding that effects even as the, I'm not confident of that.
I think inherently the Earth's mathematics of climate operate on essentially a chaotic system.
It is not meant to be predictable.
It is meant to be changeable because the earth is adaptable to the fundamental temperature knob of the planet, which is the sun.
You know, it's a big, big surprise for that, but the sun heats the earth.
And if the sun is not burning as hot, if it's in a dormant period, we can have a little ice age.
About every hundred thousand years when we get in our elliptical orbit around the sun, farther away from the sun, we have an ice age.
That's going to happen again.
It's not a function of carbon dioxide.
But the chaotic nature of the wind, for instance, they're beginning to find that globally, You've got very high altitude wind changes that affect the turbulence in the lower levels of the atmosphere, so you've got an even more complicated atmospheric turbulence dynamic, and the atmospheric modeling is nowhere near where it needs to be
If we're going to maximize or even have the possibility of producing stable energy out of wind farms, and quite frankly, I don't think it's possible to do.
I don't think no matter how hard you work on the mathematics, you are not going to find a solution to this problem.
The problem is inherently meant by the designer, who is God, meant to be chaotic, and it works, and it doesn't need us to work.
Okay, now, finally, this story I want to cover is the Biden administration.
This is in the, actually, it's in the New York Times today, I believe.
No, Epoch Times has this today, Epoch Times.
There's an article here by Kevin Stockland, and all my articles are linked.
You can see the original sources for all of them.
These EPA regulations, for instance, we covered it extensively.
The EPA has now put out regulations on the tailgate emissions for vehicles, which would basically mandate that in 10 years, 70% of all vehicles produced or operating in the United States would have to be electric.
Now, essentially, the EPA has announced these standards, and they're going to start implementing them in 2027.
And the court cases are challenging that federal agencies like the Environmental Protection Agency are way outside of their mandate set by Congress.
In other words, we're not supposed to be legislating through the agencies, unelected bureaucrats, and that's what's happening.
We have a doubling or a huge increase in the bureaucracy under Obama, and these people are making laws, and they're not elected.
They get the ability to do rule-making authority, and then they use it to do fundamental policy changes.
The EPA is not empowered to mandate that the United States use only electric vehicles.
And by the way, the story we covered yesterday on the fact that you're going to have to have a lower standard of living, this was in the BBC, that everybody's going to have to reduce their standard of living by 75% if the climate agenda, which is an ideological agenda, gets put into place.
In other words, now they're not only going after gas-burning stoves, gas-burning heaters, they're going after dishwashers, your appliances, they want to re-engineer all the requirements of living.
Essentially, you're gonna be required to walk.
You cannot run a modern industrial state with the mandate to go to electric and solar when the technologies don't work.
And fundamentally, the world is dependent on hydrocarbon fuels.
They are abiotic.
They're not dinosaur fluid.
We're not running out.
The Earth produces these on an ongoing basis, hydrocarbon fuels.
If you'll read my book, you'll see the formulas.
I include the formulas.
I explain the derivation of how we came to understand that hydrocarbon fuels Including coal, oil, and natural gas are natural products of the earth made on a constant basis in the mantle of the earth.
The chemistry and the formulas are there, take a look at them.
Again, it's like the reading not being taught in our schools, our children are being taught a hate America ideological agenda, and fundamentally these myths are being able to be perpetuated because people do not have the science background to understand what nonsense they're being told by the mass media.
Chris, any final comments before we wrap up today?
I was looking at that equation.
I want to win that money.
I want this grant so badly.
So I think I solved this.
I solved this.
Okay, good.
Here's the equation.
Wind energy plus turbine use minus cents equals politicians with line pockets.
Well, that's true.
That doesn't work.
Wind turbines minus environmental concerns divided by solar farms plus smug celebrities times indoctrination equals rolling blackouts.
Yes, I was starting to write on The Gateway Pundit as well as American Thinker.
I have articles on both this past week and I'll have more, I think, this week.
What you're seeing is that, just take a look at all the politicians who get rich.
I think Obama's net worth is $70 million.
I think Hillary's is $120 million.
Biden's is also in the millions.
The corruption is massive, and it's perpetuated by the fact that we've lost our media as an independent watchdog.
If the media becomes a CIA puppet, as the CIA tried to do, fully documented, this Mockingbird Project, where journalists have been paid by the CIA to pair it with the CIA, wants people to believe since the 50s.
I want to cover one more thing before we leave, because I'm getting a lot of responses on this.
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So Chris, thank you very much.
This is Dr. Jerome Corsi.
Today is Tuesday, May 9th, 2023.
In the end, God always wins.
God will win here too.
I know things look difficult and dark, and I think Solzhenitsyn's right.
If we return to God, if we go back to families, if we come back to our senses, get down on our knees, these are problems that God can solve, and God will solve them, with or without our help.
In the end, God always wins, and God will win here, too.
