May 25, 2023 - The Truth Central - Dr. Jerome Corsi
30:56
Economic Chaos Leading to a Gold Rush? Another EU Nation Turns on Green New Deal
Will the continued economic and inflationary chaos throughout the West cause some drastic changes in how individuals and nations invest their time, money and efforts?Dr. Jerome Corsi and Swiss America CEO Dean Heaskin predict in their new book, How the Coming Global Crash Will Create a Historic Gold Rush, investments in gold and silver are likely to gain in both value and prominence. In addition, Germany is the latest EU nation to balk at collective Green New Deal policies out of financial necessity, joining Finland and some of the group's Eastern European contingent. Also, Dr. Corsi welcomes Eric Smith, CEO of Decision Technologies (a sponsor of The Truth Central), who created a new technology to compare mutual funds and their performances.Follow Dr. Jerome Corsi on Twitter: @corsijerome1Our website: https://www.thetruthcentral.comOur Sponsors:MyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: https://www.thetruthcentral.com/the-macmillan-agency/Pro Rapid Review: https://prorrt.com/thetruthcentralmembers/RITA: https://members.sayrita.com/truthcentralreaders/Become a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
This is Dr. Jerome Corsi and today is Thursday, May 25, 2023.
This is Dr. Jerome Corsey and today is Thursday, May 25, 2023.
And thank you for joining us at the truth central dot com.
First I want to introduce I just had a new book published.
I think you're going to enjoy this one.
This one is on a very topical, one of our sponsors.
This is with Dean Heskin, who is the President and CEO of Swiss America.
And Dean and I have put this book together, and the book is about how the coming global crash will create a historic gold rush.
Now, again, the story is the first few paragraphs of the book, which say that, essentially, after the 2019 pandemic, where we had the pandemic affecting dramatically the shutdown and lockdowns, We had an increase in spending, tremendous increase in spending, and gold actually hit its high in 2020 at $2,058.40.
It hit that high in 2020.
The all-time high was on March 8, 2022, which was $2,074.60.
dollars and 40 cents. It hit that high in 2020. The all-time high was on March 8, 2022, which was
$2,074.60. Now, the central theme of the book is that there's a causal relationship between
deep economic crisis and an historical increase in the price of gold.
It happened not only during the pandemic when the entire economy was locked down, but it happened under Jimmy Carter in the 1970s when the subprime real estate market busted.
And we had essentially a huge, with Jimmy Carter, sorry, first the oil embargo.
The 2008 was the subprime market busting.
In both cases, the price of oil doubled.
So again, in economic crisis, it takes a while for gold to take off.
But as the dollar weakens, as we get this massive inflation, and Jimmy Carter really introduced the stagflation, where we had stagnant economy, We had the oil cost of energy was going up dramatically.
You know, we, it was an inflationary period of time.
We had a stagnant economy and inflation.
So the issue, if you recall, inflation was hitting double digits.
So again, in 2008, we had economic downturn in the subprime mortgage and the bank failures when subprime mortgages went South.
The all the derivatives and the mortgage-backed securities collapsed.
So again, the price of gold doubled.
And right now we're experiencing this emergence of a multi-polar world order.
And Russia and China are both challenging us economically.
And with Russia invading Ukraine and China threatening Taiwan, we're having a A threat to world peace that is matched by a paradigm shift in the economics, whereby the dollar is being challenged as the world's reserve currency.
And all of this is occurring while there's an energy crisis brought on by the, I believe, the climate change global warming hoax, which we're demonizing carbon dioxide.
But that's increasing the price of oil around the world, it has been, And it's right now, the price of oil is in a temporary halt
because again, the economic slowdown is occurring worldwide.
This is a very unstable period of time in economics.
And I'm predicting that the Federal Reserve is not able to control inflation,
that we will have more rises in interest rates which are gonna slow down the economy,
but we still do not have a settlement on the debt ceiling.
And the Democrats seem determined not to cut spending.
They wanna keep spending trillions and trillions of dollars in this new monetary theory
that we can just spend fiat currency because we can always print more fiat currency
to pay off the interest or the debt itself.
I mean, it's ridiculous that we can just make up money without any consequence.
The consequence is inflation, and that's what we're suffering right now.
We're going into another combination of the 1970s and the 2008.
I think we're gonna see commercial real estate crash, followed by a housing market crash.
We're gonna see inflation not being under control.
We're gonna see the government spending massive amounts of money, their deficit spending, and the dollar being challenged by Russia and China.
It's a very, very unstable period of time.
And this book, I think, will guide you through it to produce some practical solutions as to what you can do.
And one of the major practical solutions that Dean Heskin and I are recommending with Swiss America is to make sure you've got some gold, because it will hold its purchasing power through this crisis.
And gold will increase in price.
If it doubles again, it could go to $4,000.
Announce, and that could happen within the next few years.
Now today we've got a guest joining us, and one of our new sponsors.
I want to go to Eric Smith.
So Chris, if we can bring Eric Smith into the program.
I've worked with Eric for about 10 years now, and Eric is a good friend.
He has developed a very unusual tool, an economic tool, Which allows us to look at mutual funds and evaluate your mutual fund against others in its class with you dialing in what's important to you.
Do you want 5-year return?
Do you want 10-year return?
Do you want low expenses?
And then you can dial your preferences in.
And then from that, you can say all funds in large cap that meet your criteria, where does the fund you own rank?
And you might find out it ranks 375 among 376 funds and you won't be very happy.
So Eric, thank you for joining us.
376 funds and you won't be very happy.
So Eric, thank you for joining us.
Good to be here.
And why don't you give us some background in terms of what this new tool is.
And by the way, Chris, it's shown in our sponsors under Decision Technologies, and there is an institutional form of this tool, and there's also a tool that's available for individuals.
Now, Eric, why don't you give us some background and let people understand what we're doing here?
Happy to do so.
Let me give a little bit about where this came from and the circumstances and what it's designed, the problem it's designed to solve.
I'm not from the financial services industry.
I was an attorney in private practice for a couple of decades.
In a state planning corporate business transaction, ERISA, which is the Employee Retirement Income Securities Act, dealing with retirement plans.
In other words, I was representing money, people with money, institutions with money, and I was referring them into the financial services marketplace virtually daily.
And the problem that I had, Jerry, was that they kept bringing in the recommendations back to me, going, what do you think, Eric?
And I would throw my hands up and go, I have no better way to look behind the curtain than you do to figure out why these three are being recommended as opposed to 1,000 other choices.
It was completely opaque.
And had the results been great, no problem.
But the results were often average at best, many times subpar.
And the clients were not particularly happy.
I was the guy referring it.
And it dawned on me one day, and this was in the nature of a real epiphany, that all my clients really only had one question.
And it was very basic and obvious, but nobody was really articulating the question.
And the question was simply this, of all the available choices, Eric, which one's best for me?
And yet, there was 30,000 mutual funds and ETFs, 5,000 to 6,000 separately managed accounts.
I didn't have a solution, but it so shocked me, the simplicity of the question, that I must have relegated it to background processing because it took a couple of years before an answer bubbled to the surface, which led to the development of a decision assistance technology That now, for the first time, gives us the ability to pick any number of performance parameters, hierarchically arrange and weight them to profile the ideal investment effect that any user is looking for from any asset class.
And with that, we can blend, or they can blend, the user can blend 12, 15, 16 different factors to profile that effect and can use that to score and rank thousands of choices in mere minutes.
And actually faster than that.
So, we can, and the purpose of that is to identify those mutual funds and ETFs that have proven best over time at producing the results you, the individual, are looking for, and in a way that filters out all conflicts of interest, both known and unknowable.
In other words, using this tool, nobody can steer you to a mutual fund or ETF that's better for them than it is for you.
So that's the background, Jerry.
Okay, now a couple things I want to stress, and we're going to be doing quite a few separate shows with Eric.
To explain this, first of all, if you go to the sponsors, which Chris is showing you now, and click these green buttons and get more information from Eric, you can, right there in our sponsors, and it's Decision Technologies, you can get the, Chris is showing you how to do it right there, Rita is the individual tool, the other is for the institutional tool.
Now, this is a software program that'll run on a PC, It loads all the mutual funds in existence and has the databases on them and it can search for your fund or the category to rate a fund you're looking at against all the others in that class with you choosing what's important to you.
Now, this is going to be extremely dynamic.
It's going to be extremely revolutionary in the industry.
Because right now, that's the form to fill out.
Just fill out the form and we'll get in touch with you and be able to give you more information.
Now, one of the reasons I'm also excited about this is I think there'll be some major firms that pick this up.
So some of the major financial planning firms are gonna pick this tool up and if they've got it, they'll be able to disadvantage competitors.
Also, if you're in the financial services industry or if you're close to people who are, Managing one of the large groups.
You could be paid by Eric considerable commission for helping that group adopt this tool.
So there's quite a bit of money to be made here getting this out.
And what we're looking for is impacting the industry.
Right now, the mutual funds don't want you to know how well they do compared to the others that they're competing with.
They cherry-pick the time series analysis.
They say, well, the last three years, our fund was in the top 10.
Well, how about in the last four years?
Well, we didn't do so well in the last four years.
And this tool will let you sort that out.
It's absolutely objective.
It has all the data in it, it's kind of like a multivariate analysis, and you get to see the ranking of the mutual funds.
Mutual funds which don't do so well, honestly don't do so well, are not going to fare well with this tool out there.
So, I think, Erica, one more thing and then we're going to go back to the news.
We will do shows with you in which we go through this extensively.
And what we're gonna be doing on places like Patreon and some of the other sites is having groups of shows
where you wanna see Eric, we can have 10 shows with Eric and you get more of an introduction as to what Eric's doing.
10 shows with Dean Heskin to see more what you're doing with Gold and Silver.
So on various of these platforms, we will have playlists where you can watch intensively
a subject you're interested in.
And on the podcast, we'll keep these short presentations so that we can continue to focus on the news.
So, Eric, we're going to have you with us again later, even right away, to do the first half hour, but a couple concluding remarks quickly, if you can, and then we'll get back to the news.
Yes, this is all based on a patented decision assistance technology that we're just now introducing.
So there's nothing else out there like this.
And to emphasize what you were saying, Jerry, this is going to be highly disruptive to the financial services sector because Using this tool, you will actually know more about the relative performance of the mutual funds and ETFs you're in than the person who actually recommended them to you, unless they adopt the technology.
And so this is going to be something where the more individuals They use this tool, it will force a beneficial transformation of the industry, getting rid of conflicts of interest.
And that's one of our goals is empowerment, individual investor empowerment.
Because sometimes the best help out there, Jerry, is self-help.
Well, if you fill out the form, Eric will be in touch with you.
And there's some very good opportunities here for promoting this and earning some money to do so.
And I like disruption.
Anyone who's followed my career knows I've done plenty of disruption in my career.
Intending to do more.
So, Eric, thank you for joining us.
We'll come back and we'll do some broadcasts with you that are focused on this decision tool, which I think will be extremely successful and revolutionary to the mutual fund financial services industry.
Thank you, Eric.
Thanks, Jerry.
OK, Chris, let's get back here to the news.
I want to start with one story.
If you just look at this chart, it shows that In the geologic time, where the Earth is, you know, basically this goes over 600 million years of carbon dioxide records, and as you can see in the Cambrian period, for instance, carbon dioxide was much higher
In fact, the trend through all these geologic errors is that carbon dioxide has reduced.
It has not increased, it's reduced.
So essentially, 4.5 billion years ago, the Earth's atmosphere was primarily composed of carbon dioxide.
With a carbon dioxide concentration of about 1 million parts per million.
I mean, the Earth was, you know, compared to 420 parts per million today.
So 500 million years ago, the carbon dioxide concentration fell to about 7,500 parts per million, about 18 times today's level.
Between 25 million and 9 million years ago, the carbon dioxide concentration Appeared to vary between 180 and 290 parts per million.
With the inception of the industrial revolution, however, the carbon dioxide has increased to 400 parts per million today, but that's much lower than it has been historically.
Now, historically, we've gone through ice ages.
We've gone through all kinds of climactic changes.
And the idea with the IPCC, this Intergovernmental Panel on Climate Change, which is the UN's body, which is saying that carbon dioxide has risen historically today because of the industrial age, which only goes back to about the 1750s, That this is the exceptional time in human history and in global history.
I mean, until we started burning hydrocarbon fuels, the earth was fine.
We had no problems with climate or temperature, everything.
There were five major extinctions before human beings got on the face of the earth.
There were cataclysmic changes.
It's not a stable place.
And carbon dioxide in the early earth.
Remember, you're only looking here at Cambrian Pre-Cambrian periods is when Earth started to have life.
80% of the Earth's history, there was no life on the surface of the Earth at all.
So this is essentially a hoax.
It's a nonsense.
And I think that this one chart is going to be able to demonstrate that the climate scientists are, the ones who believe in global warming and climate change, they're all lying.
We've had history after history of scares.
My book, the book I've written on climate change, which is called The Truth About Energy, Global Warming, and Climate Change, and please read these books.
I mean, if you really want to inform yourself as to what's going on, there's a lot of climate science in this book.
I'm trying to explain it so the average person can understand it and follow it.
Chris, would you like to comment?
This is why the global warming type.
So again, global warming was the big one back in the 70s and 80s.
It became global later on.
Now it's climate change.
This is why the arguments are now emotional rather than scientific.
As you've said many times in the program, Jerry, the hockey stick is hooey.
Okay?
It looks nice.
It looks like it'll bring across a point.
But if you selectively omit data, it means nothing.
That's the problem.
The problem is the data is rigged.
You're right.
The data is rigged.
Right.
And secondly, the arguments are purely emotional now, as if you're not for climate change, you're a bad person.
If you're not for climate change, you're mean to the children of the future.
Well, where's the real science?
And there's a big difference between science and the science.
I think we can cover a couple more articles.
I really want to look at this one, how Germany is turning against the EU's Green New Deal.
What we're finding, and I think this is going to happen increasingly, is that when people face the reality Of what this net zero emissions by 2050 means.
It's basically a methodology for reducing lifestyle.
And essentially we can't have a modern industrial state.
We can't have the number of billions of people who are living in the face of the earth survive if we're going to go to wind, solar and battery.
The energy is going to be too expensive.
And the The forces behind this know this.
It's why it's a neo-Marxist movement.
It's a Marxist movement to destroy capitalism.
It's the only reason carbon dioxide is being demonized.
If hydrocarbon fuels did not emit a carbon dioxide, we would not be having this emphasis in carbon dioxide.
It's a trace molecule in the atmosphere, like 0.04%.
It is not the Earth's temperature knob.
That's all a lie.
And again, people are not educated on science.
They are not educated on math.
Earth's climate is a very, very complex system.
It has feedback mechanisms.
In other words, one thing causes another to react.
When there's various kinds of excess temperatures on the Earth, we may get more clouds forming.
Water vapor may increase within the atmosphere itself, all of which acts to block the Sun's irradiance from hitting Earth.
Feedback mechanisms, they're forcing mechanisms.
The whole idea of one factor being able to influence the temperature of the Earth is nonsense, and climate scientists know this.
It's an ideological move, and it is not correct.
What the people in Germany are realizing is that they're withdrawing support for the European Commission's Green New Deal.
Germany's understanding that with the cutback in Russian, the stopping of Russian natural gas, basically the Germans see that they're setting themselves up with legally binding targets to reach net zero by 2050, which is going to be meaning a dramatic cutback in lifestyle.
And again, it's designed for that very purpose, to get us to quit flying.
To put monitors on our homes so that they can cut off our use of heat or cooling in the summers and winters.
That we are not going to be able to eat meat.
That we can't have farming because of nitrous oxide.
All of these measures to outlaw internal combustion engines by 2035.
That's what the EU wants to do.
These are insane.
And as people realize, like the Dutch farmers and the citizen movement, which are basically going to impact regional elections.
And you know, you're, you're finding that pushback, the Dutch are, that's insane farming.
Uh, the earth is not going to burn up.
We are having an internal age of disinformation and, uh, is, Narratives, which are being told, which are narratives that are Marxist narratives.
Imagine a world using carbon fuels.
Well, okay, let's do that.
Let's go to the next story, where Finland, and I pointed out, Finland has turned on this power plant, and it reduced dramatically the cost of energy in Finland.
In fact, it's just being reported The production, which was 14 years in Finland to get this nuclear reactor thing, because of course the green movement doesn't want reactors.
They don't want a solution to this problem.
The solution is to make us self-hating.
We emit carbon dioxide, we exhale it.
Who's to say the world might be better off with more carbon dioxide?
The world would probably be greener.
It's plant food.
Plants absorb carbon dioxide.
At any rate, In Finland, they turned on this nuclear power plant and the price of energy dropped below zero cents per kilowatt hour.
And so they basically said, well, we can't do this.
We can't have free energy.
So they're cutting back the production of nuclear energy.
Nuclear energy is ultimately the solution because it's inexhaustible.
we could have as much nuclear power as we wanted cheaply.
Hydrocarbon fuels are also abundant and they will work, but I've spent a lot of time, I do in
the book, a lot of writing about Julian Simon. Julian Simon was a very, very brilliant
natural resources economist who pointed out that we are always worried we're running out of things.
In the 1850s, they were worried that they were going to run out of coal in the Industrial Revolution.
We still have so much coal we don't know what to do with it, and now we don't want to burn it because it's dirty.
Well, this is all nonsense.
These are hydrocarbon fuels, they're not fossil fuels.
They're naturally produced in the earth, which has the temperature, the condition, minerals necessary to produce a catalytic reaction where hydrogen and carbon combine to form hydrocarbon chains.
And these come out as gases through the chimneys at the very, very bottom of the oceans,
which have been measured by the Woods Hole scientific team.
And they've written in scientific journals, Woods Hole Oceanographic Institute,
that the hydrocarbons coming out of the earth in these thermal planes at the bottom of the sea
where there's no light, the hydrocarbons are produced by the Fischer-Tropsch
process which are the equations I focus on in the book
were developed by the chemists in the Weimar Republic to show you how in fact hydrocarbons
are a natural product of the earth, made on a continuous basis, still being made today.
Now, I'm writing these books because I'm doing, I wanna get as much as I can in print, because I wanna combat this age of disinformation.
I want to get people to start thinking, to get back to reason, get back to facts.
Let's quit this ideologically driven nonsense, which is just disinformation.
We've got a Justice Department that will only prosecute Republicans, that goes after Donald Trump and excuses Biden.
Biden can have all the crimes in the family they want.
They excuse Hillary Clinton.
We can't have political justice in the United States or we have no justice.
We've got California going to do reparations.
Well, California has already got deficits of billions of dollars and they keep spending more and more money.
Tomorrow we'll cover some more stories on San Francisco, which is a complete disaster.
The cities are a disaster.
We're self-destroying based on this This new neo-Marxist, cultural Maoism.
Cultural Maoism is a cultural revolution where the woke come and scream in your face if you're trying to proclaim the truth or believe in God or Jesus Christ.
It's a destruction of religion.
And another book I'm reading, and I will bring it out here probably tomorrow, is a, Jonathan Cain's got a new book on The Return of the Gods, and I think it's quite good.
Arguing how the demons are back because once we quit believing in God, the demons have free reign.
I think it's a very, very good book and I want to feature it.
So this is Dr. Jerome Corsi.
Craig, do you have any last final comments before we wrap up for today?
I'm sure you can go on for a half an hour.
Yeah, I'm sure I can, too.
But again, watch when scientific and political arguments become emotional.
That's when the other side knows they lost.
So they're trying to make you feel bad for thinking a certain way.
They're trying to demonize you for presenting facts to them.
But I do say this.
In my opinion I think we need the woke types around for a few laughs because what will we make fun of?
Well I mean look at Budweiser, you look at the pushbacks against this transgender and I saw that Target got hit by a boycott and they should be, they're introducing Producing LGBT products for children, indoctrinating children.
Right, exactly.
Leave the kids alone.
They don't need to be thinking about sex in kindergarten.
They don't even know what you're talking about.
Right, let's not satisfy, the idea is they're trying to satisfy a political agenda and try to look hip and new, but sometimes you go Into a realm where it just doesn't make sense.
And again, when it comes to children, stay away from them.
That's it.
Well, if you want Satan ruling, we'll have war, we'll have disasters, we'll have nuclear war before, you know, Iran will certainly want to go after Israel once it's got a nuclear weapon and Biden's doing nothing to stop it.
We're self-destructing the economy, we're destroying our cities.
You know, bad flu, we shut down the economy over a bad flu and called it a pandemic.
Well, if Fauci and the other so-called scientists run the place, we will all be eating worms.
That's what they'd like.
So, look, this is central.
And we're going to produce truth, and we're going to tell you the truth.
Today is Thursday, it's May 25th, 2023.
In the end, God always wins.
God will win here, too.
It may not be pretty, especially if we sell ideas.
South to boost ideas, win.
The consequences for a nation that goes to election will not be really pleasant.
So thank you for joining us.
Dr. Jerome Corse, May 25th, 2023.
Thursday we'll be back.
Tomorrow we're broadcasting every weekday and we're very happy to have you with us.
