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Jan. 18, 2023 - The Delingpod - James Delingpole

01:42:08

Tom Luongo (previous sync issue fixed)

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	Welcome to the Denny Pole with me James Denny Pole.
	I'm And I know I always say I'm excited about this special guest, but before I introduce you to him, a word from our sponsor.
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	Read 80 more client recommendations for Thor and connect with him today at LinkedIn.com Tom Luongo, I hope I've pronounced you right.
	It's great to have you on.
	You've been a much demanded guest.
	But you know what?
	I don't know whether you've ever listened to the Darling Pod.
	I really, really hate long preambles.
	I kind of prefer to cut to the chase.
	So, you are the host of the Gold, Goats and Guns podcast.
	Just give me a kind of 15 second TLDR on who you are and what you do.
	I'm the guy who takes the geopolitics of the world, marries them to the markets, and tells you this is what's going to happen next.
	I try to make sense of the world going mad from that intersection between geopolitics and markets.
	That is, you sound like just the most, the dream guest actually, because I think so many of my viewers and listeners want to know, A, how to make sense of the shit that's going on, and B, how to kind of maybe even benefit, benefit from it.
	Oh sure.
	I'm telling, I'm teaching grandma to suck eggs here, but I mean, the lying, the way we are lied to by the media is so relentless now.
	I mean, it's just, it's just embarrassing how much lying goes on.
	Yes.
	And I'm presuming that if one can work out what the underlying, what the truth is behind the narrative, one can kind of make like a bandit.
	Oh, yeah, no, if you if you can.
	Yeah, and that's the hard part because the hard part about the handicapping all this is trying to identify who the factions are and who's actually fighting.
	Because we're we're not just dealing with lying.
	We're dealing with overlapping psyops from intelligence agencies from every You know, corner of the globe.
	You've got the CIA, you've got MI6, you've got the Russians, you've got the Chinese, you've got everybody is lying all the time.
	Who controls, who then is the mapping, just who's the mouthpiece for which faction is actually as hard as anything else, right?
	But once you, you know, kind of get all that under your belt, and I've been a fan of yours for a long, long time, so this is fun for me too.
	Because I remember when I first started reading your climate change skepticism on Lou Rockwell years ago, I was like, All right, James, we're on the same path here, the same page here, and climate change is the big lie, right, that we're all dealing with.
	Because all the idiotic commentary and the idiotic policy stems from that.
	So when I'm looking at this right now, the big problem for everybody is to wrap their heads around that because we've reached a kind of inflection point in history, and everybody's ox is being gored, The old relationships are starting to break down.
	The ones we had mapped out ten years ago or even five years ago with the central banks, with even the commercial banks, with the parliaments and the globalists and all of this stuff, all those old relationships are breaking down.
	And you can see it happening in real time.
	I've been the guy standing out on the street corner, you know, holding the end as an eye sign, going, look, the Fed is off the reservation because the Fed and Davos, for lack of a better term, don't agree about where we're going to go with the future, right?
	Because their incentives don't line up.
	And if their incentives don't line up, and then you look at the people pushing each, you know, looking at who's in charge of the policy, and we know that personnel is policy, then things have changed.
	And Jerome Powell is not cut from the same cloth as Ben Bernanke or even Janet Yellen, and therefore we should be assessing the Fed from a different perspective than we have when those two were in charge, and certainly in a post-Trump era and a variety of other things, post-Brexit era as well.
	I like the nuance there.
	I mean, as you may or may not know, I sometimes talk about the predator class, I talk about the powers that be, I talk about the cabal, I mean, you know, the myriad, myriad names for these shadowy figures.
	But you're suggesting they're not a kind of monolithic block, that they are like rival, rival sort of mafia gangs, if you like, sort of competing for power.
	Yeah, that's a very Rothbardian view of this.
	I am a libertarian, right?
	I invoked Lou Rockwell at this point.
	I just realized a long time ago that it's always best to constantly ask yourself the question, why are they acting like this?
	What do they benefit from?
	What does the Fed benefit from allowing Christine Lagarde and Klaus Schwab to reorient global monetary policy to fight climate change?
	It doesn't make any sense.
	The Fed owns the world's reserve currency.
	Maybe not forever, But why would they give that up willingly to a bunch of, frankly, to a bunch of Eurotrash commie faggots?
	I don't get it.
	It never made any sense to me.
	And so from that perspective, and then I go and say, okay, well, who owns the New York Fed?
	Right?
	The New York commercial banks, JP Morgan, Goldman Sachs, Citigroup, and the rest of them.
	Why would they want to do away with the private formation of capital?
	Like, why would they want to go along with this?
	Unless they couldn't stop it in times previous, and then when they pushed their guy Powell in under Trump, they could actually get everything changed.
	And they can actually start to wrest control of the global banking system back from a globalist takeover, a different faction of globalist takeover that's literally communist in their view, that we're going to end private formation of capital, end commercial banking, go to purely a kind of state banking model.
	Which is what retail central bank digital currencies are all about, and all the stuff that the WEF is pushing.
	And they're just a front organization for the Tony Blairs and the John Kerrys and all the rest of those shitbag globalists.
	So on the other side of it, it's like, well, okay, we're going to take the most powerful Banking lobby and political lobby in the world, the New York banks, and we're going to tell them, oh no, you have to go along with climate change.
	Now they did it when it wasn't to their advantage, and Goldman Sachs was happy to sell carbon credits, but not to the extent that they're going to no longer have a seat at the freaking table.
	And that was the bridge too far.
	And I honestly believe that they, when I review the history now, and I review the fight that ensued over getting Powell appointed, getting John Williams in at the New York Fed, and the fight over Judy Shelton, the old, you know, she's a gold bug for Christ's sake.
	They wanted to put her on the FOMC board as well.
	And, you know, when John McCain and Kamala Harris are high-fiving on the Senate floor to block Judy Shelton's nomination to the FOMC, we kind of have, that's like the perfect microcosm of how important it was to get control of the Fed to these, you know, these freaking globalists.
	So that's the way I see it.
	So it's clear to me that this actual fight between the Fed and Davos has been in the planning stages for over five years.
	JPMorgan went on the offensive in the six to nine months before the repo crisis of 2019 by refusing Any and all European debt is collateral for repo transactions, so they couldn't get any active... European banks couldn't get any dollars, which is actually what caused the repo crisis of 2019, but they did it on purpose because it actually started the process of destroying the ECB and starting to blow up the Target 2 liabilities.
	By the way, I think that's why they gave us COVID six months later to force the Fed to pivot and print a whole bunch of money.
	And get the threefer, right?
	They get to kill off a bunch of people.
	They get to kill off a bunch of old people so they don't have to pay their pensions.
	And then they can go for the clock shot and all the rest of this stuff.
	And it's just all so unbelievably evil when you stop to think about it.
	It's ridiculous.
	What's that?
	That if they were trying to to kill old people, they really screwed up there, didn't they?
	Because I think COVID wasn't as strong as it wasn't as good as it wasn't as a gain of function wasn't as good as they hoped for.
	But they did kill off a lot of people here in the United States.
	Oh yeah, but I'm thinking more about the vaccine, you know, because you look at the hit that has been taken.
	I mean, more of Generation X, whatever that age group is, have been killed by By the covid vaccine then died in the Vietnam War.
	I mean the attrition it is taken on your people and my people not just deaths my carditis and stuff and also injuries the number of people have been taken out of the workplace.
	Yes, they I mean.
	They don't want to pay our pensions.
	We know that they know that we know that they're never going to pay our social security.
	We're also, numerically, the smallest generation of the four post-war.
	So kill a bunch of us off and we never get to take political power, which is what they're desperately trying to do is to move political power, skip Gen X, go from the boomers directly to the millennials.
	And if you watch American domestic policy and you watch electoral politics, it's very clear what they're trying to do.
	They're trying to hand off, they're trying to skip us, go directly and give it all to the AOCs of the world.
	They don't want Ron DeSantis and company coming in and tearing the whole fucking thing down.
	That's what they don't want.
	That is such a good point.
	I've never heard it expressed before.
	Nice one.
	Because that gels with something that I've observed, and maybe you've observed, that the biggest resistance to all this shit, the most articulate people, the most awake people, are Generation X, the rave generation.
	Yes, absolutely.
	I mean, why is that?
	Well, because we're the nomads.
	We're the ones who were left in front of the television set as the latchkey kids.
	We don't believe our parents.
	We all grew up on some of the... Think about our... I don't just do geopolitics and markets because I love movies and I love pop culture, and I think that pop culture is a very important window into the soul of each individual generation and yada yada yada.
	So look at our formative movies.
	This is Heather's Repo Man.
	Like, if you really look at what, you know, Blade Runner, if you look at Gen X's touchstones, and of course Star Wars, you have the heroic stuff like Star Wars, the good heroic narratives like Star Wars, and then you have the really cynical takes on the power structure.
	As you know, embodied by, you know, embodied by, you know, the movies I just mentioned and others.
	Yeah.
	You get a kind of, they, you know, we got a really strong education in story.
	And it was probably the last good generation of story that came out of Hollywood.
	And then, you know, obviously I think, I personally think the Davos shitbags have been in charge of destroying storytelling in Hollywood for 30 years.
	You know, the Coen Brothers even commented on this in Hail Caesar, right?
	I don't know if you ever watched Hail Caesar, the movie they made about making movies in the 1950s.
	And the communists, you know, there's this whole subplot with the commies and making religious epics in the 50s.
	It's really great.
	It's actually really great.
	Really great film by the Coen Brothers from that perspective, because they really do kind of tear the band-aid off of all that stuff.
	I find it really fascinating.
	Just riffing here on the movie theme.
	What's the previous generation?
	The Boomers.
	They did have the parallax view and Three Days at the Condor.
	So they too are alive to conspiracies.
	Yeah, oh yeah, absolutely.
	Yeah, the movies like The Eiger Sanction and others like that, you know.
	But, you know, then we wind up with, you know, think about it like when we were in our 30s, we had The Bourne movies, right?
	I just re-watched The Bourne Identity last night for the first time since I saw it in the theaters.
	And I'm like, why do I want to watch this movie?
	And I hit the, but sometimes you let your You let your hindbrain do the talking.
	It's like, yeah, let me watch Matt Damon and let's see what's going on.
	And, uh, and yeah, it's all right there.
	And even in the Bourne Identity, like, and there's so many of those films.
	We, we, we grew up that whole like late, late nineties, early two thousands.
	There was a whole lot of movies like that where the U.S.
	government became the bad guys, where, you know, they were, were bad people who were raised within this, you know, this government system trying to get out Trying to get out of it.
	It's like, that's the whole story of the Bourne identity, right?
	Does he, you know, he doesn't go through with his mission in the end because there's a kid sitting there and he's like, wow, I can't do this.
	And his last vestige of humanity manifests itself and he has to, and that's why he becomes a, that's, you know, the, the, after that, I haven't watched the movies in so long.
	I can't give you a good.
	No, I don't, I don't, I don't get excited about certainly new movies anymore.
	Are you, are you with me though?
	Um, I think that movies are essentially controlled by the forces of darkness.
	Oh, yeah, for the most part.
	Yeah, I'm watching the fight over the DC films from Warner Brothers and like that whole sit.
	I mean, it's very clear that Zack Snyder in the like the DC films was trying to make a an anti-woke.
	That story to reassert, you know, proper heroic storytelling in the proper context of, you know, faith and culture and all of these things.
	And the studio execs took one look at those movies and said, no, we need to kill that.
	And then they just literally performed editorial acts of vandalism on their own films in order to tear it down and then destroy it.
	And then you can see even now, like Bob Iger getting thrown out of Disney, getting replaced and then coming back.
	That's again, we're not going to let Disney out from underneath our control.
	We're going to put, you know, we're going to put the shitbags back in control to destroy us, to destroy our culture.
	And I'm seeing the fight within WB or the new Warner Brothers discovery over the future of DC film.
	Because the DC heroes are the closest things we have to like modern myths.
	Much more so than Marvel.
	Marvel's always been a reaction against going back to comic book history.
	I'm a big comic book fan as well.
	And Marvel has always been a kind of beatnik reactionary world, you know, reactionary to the classic, you know, heroes of the DC Pantheon, which were all, you know, just the Greek gods reimagined.
	And then if you look at the most of the Marvel Characters other than, like, Spider-Man.
	What you see is a whole bunch of reactionary, you know, beatnik hippie bullshit.
	And then, so what a shock that Marvel has always been on the forefront of telling basically why Marxism is great.
	And the whole Marvel, you know, Phase One leading up to Thanos.
	It's like, remember, Thanos rhymes with Davos.
	You know, he's just the ultimate Malthusian.
	And Malthusian thinking is always wrong.
	So, you know what I mean?
	And they try to hear us.
	It's disgusting.
	So you reckon that there are goodies within the Hollywood system?
	Because I see the entertainment industry really being serving two main functions, at least for the powers that be.
	One is predictive programming to sort of prepare us for the horrors to come and kind of make us accept it more easily.
	And second is revelation of the method.
	Which is because of their sort of satanic karma.
	They believe that if they show you what they're doing to you, it absolves them of kind of moral responsibility.
	Yeah, no, I agree with you.
	That's what they're doing.
	And then you have individual filmmakers who understand how to sell their films and subvert them.
	And I think Christopher Nolan is one of those guys.
	And it took me a long time to finally make my peace with Nolan because his early films, I could easily make an argument that he was a Marxist from a story construction perspective.
	I still have a real hate on for Memento, his first film, or his first major film.
	But it became very clear when I really did a deep dive and a textual dive on his later films that he would keep selling to Warner Brothers.
	Oh, the driving plot here is climate change has destroyed humanity, but then he tells this incredibly based fucking story about individuals overcoming this stuff.
	He's done a great job.
	He did it in the Batman movies.
	He did it in Interstellar.
	Um, you know, he's even done it in Tenet and other films like that.
	So I really give Nolan a lot of credit for that, of selling it right and then being so successful that he, in a sense, kind of like Stanley Kubrick was, mostly free from studio interference to make his films because he has enough power.
	I think Zack Snyder has been able to do much the same thing and a few others here and there.
	And then there's even some of them who are liberal by their personal politics, but are such good storytellers that they always care about the story first.
	And I'm thinking specifically about a guy like Rian Johnson, whose personal politics I don't agree with at all because I know he's a lib, but he still is an excellent filmmaker and he's not doing predictive programming as much as he's just telling great stories with very, very strong commentary.
	And you can ignore his politics if you need to, because I still think he tells great stories first.
	And I know a lot of people will get angry with me, especially the Star Wars fans, but I happen to love The Last Jedi.
	So, for a variety of reasons.
	You do sound, Tom, kind of upbeat and optimistic, which is, I think, more than where I am at the moment.
	I mean, I'm looking at the world and I'm thinking, okay, we seem to be living currently in another Foley War stage of the war on us, the people, by this tiny, tiny cabal.
	Because If you'd asked me a year ago where we'd be now, I would have said that, well, most of us would be dead.
	I would have predicted that the food shortages would already have kicked in, we'd be eating our cats, that we wouldn't be able to travel anymore, that, you know, stuff like that.
	And also the currency system, the global financial system would already have collapsed.
	I still think all these things will come to pass, but none of them have yet.
	And I'm wondering, Is this because their shit is not going to plan, or is it because they are devious in playing the long game and they've got something up their sleeve, e.g.
	my number one bet would be war, either with Russia, which seems to be building up, you know, the building up of the Polish army.
	I think that they're possibly preparing for, you know, dragging Poland into the war.
	Or war with China.
	Or both.
	Or all of the above.
	Or both.
	You're actually, it's both, it's all of the above.
	I think the shit's not going to work and they can't stop doing what they're doing because they are psychopaths.
	And psychopaths and narcissists do not back down, they double down, right?
	They don't have a reverse gear.
	And one of the things I wrote recently was to remind everybody that even when it comes to Russia and the war on Russia, Every, it's like every bit of attrition that they inflict on the Russians from the, certainly from the neoconservative, US-UK neoconservative perspective, which is another, which is a separate faction from Davos.
	I think they're the useful idiots of Davos.
	From their perspective, any amount of cost that they put on the Russians is okay.
	It's worth it in service of trying to eventually break the Russians up.
	It doesn't matter how much it costs us because we're so much richer than they are.
	So we can take the hit and it doesn't matter.
	It's flawed thinking, it's terrible thinking, it's disgusting, and it's going to backfire on all of them terribly.
	So they're going to take us to war, right?
	But at the same time, human systems are a lot more resilient than we give them credit for.
	So these systems want to have, and so far have, resisted the collapse.
	And the collapse is coming, okay?
	And don't get me wrong, and I don't think it's, though I don't believe it's going to come until 2024, 2025.
	I don't even think it's going to happen this year.
	I think this, bits and pieces are, more bits and pieces are going to collapse.
	I think there's going to be more divisions within the European Union.
	You got, you know, many things that are going to start happening there.
	But, and I'm not necessarily optimistic, but I do believe that we've reached peak Davos and we're on the back side of it.
	We're on the peak, peak globalists and we're on the back side of it.
	And that doesn't mean that it's over.
	It just means that, you know, that they're done.
	It just means that we've reached their peak and now they're here.
	So they still have a lot of power.
	You know, next year they'll have a little less power and then a little less.
	And eventually we'll go, we'll, we'll move down the bell curve and by 2030, they will be, hopefully there'll be a memory, right?
	But there's a lot of inertia within the system with all of these systems that they control and those things are going to act on autopilot and they're still going to continue to get the same orders that they've been getting and we're just going to have to watch the process play itself out and in the process they're going to do an unbelievable amount of fucking damage.
	And they've already done some.
	But that's also going to create the generation of people that are going to be so freaking hard that they're like, you know, fuck you.
	We're never going to listen to a word you ever have to say again.
	And what I hope is that what I've seen so far out of both the American people and the European people is that they have no appetite for going to war.
	So they may order a war, but a whole lot of people may not show up.
	And then what?
	Presumably they'll have stuff like conscription.
	Well, they can try, but see, especially here in the United States, Davos' whole plan is to undermine all of the institutions of the United States.
	Economics, political, legal, cultural, everything.
	And then you've got the millennials, who are some of the softest people I've ever seen, and you're going to expect them to show up and be conscripted into an army that, for a country they don't even fucking believe in anymore.
	They believe in the United States less than we do.
	They're like, nah, it's okay.
	If Texas and Florida want to leave, let them leave.
	Why do we need to be a part of this?
	What are we doing here?
	One of the things about the Millennials, especially U.S.
	Millennials, I don't know about British Millennials, but certainly U.S.
	Millennials, is that they've been fucked three times over.
	Y2K, they watched their parents go broke three times.
	Y2K, 2008, and COVID.
	Well, they watched their parents go broke twice, and now they went broke in 2020-2022 when COVID hit.
	They were just starting to think, oh my god, I'm going to have a chance at a house and a family and this and that.
	And now we all have to live in our basements again.
	Like, they're so blackpilled in many ways, while at the same time, you know, kind of muddle-headed about what, you know, how we should organize capital, because they've been sold this like kind of soft Marxism.
	Like, none of it's going to compute, and at some point they're going to be like, no, this isn't going to work.
	You're going to ask me to go to war in Ukraine to fight Russians?
	Okay, yeah, no.
	And, you know, I also have friends who are in, like, the National Guard, and I'm like, oh no, there's, like, all they're doing is hanging out and playing poker and, you know, having gay sex.
	Like, that's all I see.
	Like, I have that, like, on good authority by friends of mine who are in the friggin' National Guard for Christ's sake and who've been, like, deployed!
	Is it obligatory having gay sex in the National Guard?
	Is it?
	Yeah, well, you know, it is what it is.
	Like, you know, I have homosexual friends who are like, I haven't gotten this much tail in I can't tell you how long.
	Like, you know.
	Hey, the Spartans, the Spartans were gay.
	That's, I mean, obviously it works, but... No, yeah, no judgment here or anything.
	It is what it is, right?
	So I'm just telling you that I just, I just don't see the, I just, this is the thing I, you know, I worry that, you know, the United States military, like, don't get me wrong, are our special forces still top-notch?
	Yes.
	Are, you know, British special forces still top-notch?
	Of course they are.
	But, and they fight a war You know, against China or the Russians, certainly not the Chinese.
	The Chinese can call up friggin' 100 million people.
	What are you going to do?
	Yeah, yeah.
	Well, I would say nuke them.
	I don't even believe in nuclear weapons anymore.
	I think they're part of the soil.
	I happen to think, the scientist says, likely real because I don't see any profit in not believing in the threat, ultimately.
	But maybe I'm wrong.
	I'm always happy to be wrong.
	I think that was about, you know, I didn't want to get in a rabbit hole.
	It was very naughty of me to open the rabbit hole because actually there's so much more important shit we need to discuss.
	And I hate to share your optimism to any degree because, like, well, why would I?
	But there is one point I agree with you on about this, the war that they are desperately trying to stoke with Ukraine.
	So I've given up reading the newspapers.
	I just think they're absolute horseshit.
	And I used to I mean, look, I spent the bulk of my career writing for newspapers and believing in the system.
	It never occurred to me for one second, one millisecond, that this was merely propaganda for the predator class.
	It was all lies, pretty much lies.
	And unfortunately, my wife still insists on subscribing to the Daily Telegraph, which is the paper I spent most of my time working for.
	And I turn to it, and almost every day there is a piece by one of their so-called defence experts, or most recently it was a friend of mine, Dan Hannon, who's now Lord Hannon, he was an MEP and stuff, and he was writing a piece saying, We must throw everything we can into defeating Putin.
	It's really, really important.
	And of all the options, this is the only thing we must adopt.
	And then you had Douglas Murray writing a piece for the New York Post.
	He went out to Ukraine and he came back concluding, yes, we must pour more materiel into it so we can win this vitally important war.
	And I don't know whether anyone else shares my cynicism.
	I bet they do.
	I bet they're turning into their papers and reading this article and saying, hang on a second.
	We are having trouble struggling to pay our electricity bills.
	The Daily Mail had a piece the other day saying that if you want a bath every day, it's going to cost you £1,000 a year.
	I don't know whether that's for a family or just one person.
	People have got other stuff to worry about other than this far-off country of which they still know very little other than it's got a blue and yellow flag.
	And they don't really care about this stuff.
	I feel like they're really flogging a dead horse here.
	No, they really are.
	And when you see them doing that, you know how desperate the actual situation is on the ground.
	When they pull out a conservative stalwart like Dan Hanna to try and keep the conservatives best on both sides of the pond, because he's well respected over here.
	Yes.
	Yeah.
	As a, you know, that's a tell that things are really bad.
	And now this is not to say that the Russians have like, you know, distinguished themselves as being great on the battlefield or anything.
	But, and that's up for debate.
	I don't actually want to get into that debate for many, many, many reasons.
	Because there's just so little good data about it.
	And you can always make arguments as to, this is the best way for the Russians to have fought this war.
	As opposed to, they're just not any good at it.
	Which is one.
	Those are two.
	That's basically what it comes down to.
	I happen to think it's a little bit of both.
	But, so yeah, when you see it like that, it's very clear that they're just, that they will not, that this is a desperation play because there are too many people out here, out there, whose ox is getting gored.
	If Ukraine falls and the Russians are able to open up the treasure trove of what's actually been done in Ukraine, then the whole project collapses When it gets to the U.N.
	Are you talking about the child trafficking?
	Child trafficking, you know, gain of function research, blah, blah, blah.
	All of it.
	The mass graves, all of it.
	Like, it's insane.
	And, you know, the question then you have to ask yourself is why are they so desperate?
	And I think the best answer is because they know the system, as you alluded to earlier, is on the verge of collapse.
	And as a matter of fact, they want it to collapse because they need a scapegoat To destroy the system and rebuild it, leaving them in charge of it.
	See, the needle they're trying to thread, the eye of the needle they're trying to thread here is, we want to inject enough chaos into the world to blow it all apart, such that we get to maintain control over it.
	Well, I got news for you guys.
	This is 1939 or 1945.
	This isn't 1939 or 1945.
	We're in a much different information space than we were then.
	And they're trying to control the information space in such a way that they still, that's why Twitter was so important.
	trying to get out of the way Do you think proportionately, as a proportion of the population, more people are awake now than in the 1930s, say?
	I do.
	I think in the 1930s, I think people still trusted their governments.
	Okay.
	And this is not to say that, you know, they wanted the government in their lives the way they are today, right?
	But when the government spoke, they believed in the idea.
	You know, they believed the government was lying to them.
	What happens when you lie enough is that eventually then people just don't believe what you're saying at all.
	And that's a dangerous divide.
	That's a dangerous difference.
	Back then, everybody, you know, back then the kind of everyday libertarians today in America were kind of the center.
	Right from a political perspective, that was the center of the country.
	No one wanted the government in their life, be it Democrats or Republicans.
	No one wanted the daily intrusions or the taxes or the this or the regulations or the nanny state or any of that stuff.
	But when the country called them to war, They went because they believed in the country, and they believed in the society, and they believed that there was a thing.
	Today, this is what I don't understand about what Davos has done.
	They want the United States to fight a two-front war against two nuclear powers, and yet they want to do it with Americans who don't believe in the institutions that would give them the fervor to fight the war.
	You can't have it both ways.
	They've created a set of differential equations in my mind that do not solve.
	And so this is why I think the whole thing is going to be pushed to its crisis point, which is the period we're entering now, but then the whole thing will collapse.
	So I agree with Martin Armstrong, for example, on this point completely.
	He's been saying this for a long time, and I think he's right about it.
	And then think about the level of implementation that they have to put in place.
	These people can't even get, you know, I mean, it looks like they're winning.
	It looks like they're putting all the bits and pieces together and everything.
	Then they've got to actually get people to run this system.
	And, you know, how easy is it to blow all their systems apart?
	Because half of them are incompetent and God knows none of them can even code for Christ's sake.
	Can I just sidetrack you there?
	Martin Armstrong, I'm glad you mentioned him because his latest piece I read was about something been happening to the gold price recently.
	Has it been going?
	Has it been doing quite well?
	Yeah, gold is pushing up towards $1,900.
	Oh, is it?
	Yeah.
	Well, I'm glad about that.
	It's had a nice January run, which I kind of expected, actually, at this point.
	Before we go on to gold, Martin says, I'm sure you've read it, he says that this is because the Chinese are buying up lots of gold, getting rid of their American debt in preparation for war.
	Absolutely.
	I agree with him completely.
	Yeah.
	I mean, I've been saying that we're going to have a full-blown commodity rally in 2023, which is why inflation in the United States is going to come back in a roar sometime around Q2.
	It started to attenuate a little bit the last couple of months.
	We're back down into the low sevens.
	It'll go back to 10% because literally, as we're talking about it, copper broke above $4 this morning.
	It's a technical breakout on both the weekly and the monthly charts in copper or the daily and the weekly charts.
	And we already had a break.
	We already had a reversal signal in the monthly chart back in November.
	I can like push this gobbledygook out the door all day long.
	Seeing the same thing across the board in like nickel, aluminum, tin, all the base metals are starting to break out.
	Oil is putting in a base at around $80.
	The biggest tell there is that the Biden administration doesn't said they refused all oil tenders for refilling the SPR, Strategic Petroleum Reserve, in February because the price was too high.
	Well, I got news for you, Joe.
	It's going higher because the Chinese, once the COVID is done ripping through the Chinese population, which should take about six to eight weeks, China's economy is going to come back like a freaking house on fire, and it's going to send oil to $140 a barrel.
	Oh no!
	Oh yes.
	That's terrible because already I have oil heating in my house, in my drafty country house.
	Yes.
	And already it's twice what it was, literally twice what it was last year.
	Yeah.
	And it's getting really, it's getting worse.
	And the part of that is because, you know, they won't, because your government believes that we need to stop Putin and therefore you're not allowed to buy Russian Urals grade at $50 a barrel or $40.
	I mean, you know.
	They don't believe it.
	They pretend to believe it.
	Yeah, it's ridiculous.
	So, you know, but this is what these people do.
	And I firmly believe that we're going to be looking at at least, you know, even if my worst case scenario of oil in 2023 is that we just kind of tread water between $80 and $100 a barrel.
	But any kind of shock whatsoever will send it to $140.
	OK, so the Chinese are gearing up for war.
	These are all good questions.
	going to take Taiwan or is it going to be the full-blown...
	These are all good questions.
	I think 2023 is the year that we see the US pull out of Syria and Iraq.
	The Turks have...
	Well, good.
	Yes.
	No, excellent.
	But unfortunately, those troops will be moved to Poland and Romania in order to attack Ukraine.
	Right.
	I know.
	No, that's what they're going to do.
	They're going to pull them out from there and they're going to move them.
	But it's still going to be a Saigon embassy moment in Iraq because it's the biggest friggin' Military overseas military base, I think we have other than I think the other than the one in Abu Dhabi.
	Right.
	The one that's that is was a CENTCOM, I think, is in Abu Dhabi or Qatar.
	One of the I can't I can't remember the big one that covers the Middle East.
	That could be ugly.
	And at this point, would Biden want to reprint a replay of Afghanistan?
	Of course he does.
	He doesn't work for the United States.
	He's a traitor.
	He works for globalists.
	And, you know, it's so, you know, of course he's going to do this.
	So I see that coming.
	But then again, I also see those guys getting transferred over to, you know, Eastern Europe.
	I know, I know where the Poles are.
	They're masking the Poles on the border because they don't want Belarus to come into the war.
	So if the Belarusians and the Russians together come in west of Kiev and then Poland will come in from behind, you know, that's what I'm sure that's what's been game planned out.
	Do you think, I mean obviously these terms are in a way meaningless because nobody's a goody, but do you think Putin is more of a goody than the American deep state?
	Oh, absolutely.
	There's no doubt in my mind that Putin understands all of this stuff and is actually, what he's doing is trying to break.
	It's not just the U.S.
	deep state.
	Because, you know, you Brits have got a lot to say about this.
	They're like joined at the hip.
	I talk about this stuff all the time.
	The British animosity towards the Russians goes back to the Revolutionary War, for Christ's sake.
	Because, you know, multiple times did the Russians back The independence movement in the 1780s, as well as the Revolutionary War, as well as backing the Union during the U.S.
	Civil War.
	Right?
	And so the British animosity towards the Russians is, you know, is from a British aristocracy perspective, is deep and abiding.
	And it's why, you know, it's almost why you can see why like Mackinder-Heartland theory makes perfect, is like perfect justification for this animosity.
	And, you know, as far as I'm concerned, you guys have been trying to take their colonies back for the last 240 years.
	So tell me about Mackinder-Hartland Theory.
	Okay.
	So yeah, it's no different than like Brzezinski or Wolfowitz Doctrine or the Brzezinski Doctrine, which is that the World Island, which is the Eurasian landmass, he controls Central Asia.
	Controls the world island controls the world and if you can't control the world island that nobody's allowed to control the world island.
	Oh, and that's why that's why y'all have been that's why y'all you know moved into Afghanistan in the 1860s.
	Yes.
	Yeah.
	Yeah, we called it the great game.
	Right.
	And you're right.
	Yeah, I sort of I'm aware of this now.
	Yeah, that was what it was all about.
	The retreat from Kabul.
	All these stupid, crazy foreign ventures which made no logical sense.
	They're rooted in this sort of atavistic... Where are you, by the way, on Kazaria and on the so-called Kazarian Mafia?
	I try to keep out of that because I like my platform.
	I have an opinion on it.
	I tend to keep it to myself because what's the point?
	There's so many other ways to address that same thing without actually addressing that same thing.
	So what I would say is if you look really carefully at like the way the Brits left You know, the Middle East.
	So the Sykes-Picot Treaty was designed to keep everybody fighting amongst themselves, to split the Kurds up into four different countries in order to, you know, in order to keep them agitated and angry.
	And same thing with, you know, if you're going to pull out of India, you have to create anti-India, so you create Pakistan.
	And then you leave.
	And then you give the wrong region to the wrong country in order.
	This is very typical.
	This is what the...
	I mean, I hate to do this, but you do realize what we say over here in America, which is, why did the sun never set on the British Empire?
	Because we don't want people roaming around in the dark.
	Because God didn't want these people roaming around in the dark.
	It's bad.
	And we learned all these lessons from y'all.
	This is the thing that drives me crazy.
	And it's like Europe and America are joined at the hip in a solipsistic fugue.
	But to think that one is subservient to the other is kind of silly at the end of the day.
	On certain vectors, we set policy.
	On other vectors, Europe sets policy.
	And it's just the way it is.
	I mean, up until this year, Y'all have controlled the rate at which we have to pay back our debt.
	LIBOR has undergirded all the U.S.
	dollar denominated days.
	In effect, the City of London has controlled the U.S.
	banking system for 200 years.
	And that changes, by the way, in June when we go completely off of LIBOR and move over to SOFR.
	So this is a big deal.
	This is one of those things that has changed that most people don't have any idea about.
	Can you explain to me?
	I don't know anything about this at all.
	What does it mean for us?
	This is another one of these pillars of my argument about the way the world is operating and why the Fed is, I think, at war with the globalists.
	And why I think the appointment of Jerome Powell and the appointment of John Williams to the New York Fed was so important back in 2017.
	SOFR, the Secured Overnight Funding Rate, is a domestic replacement for LIBOR.
	As a matter of fact, the entire world is moving away from this kind of thing, but it has to.
	So, up until very recently, up until literally January of 2022, U.S.
	banks could write debt instruments, a mortgage or a car loan or whatever, that was indexed to LIBOR, to the London Interbank Offer Rate, right?
	Which is what has been the debt indexing rate for the entire world, most of the entire world, for decades, if not over 100 years.
	And there's an anachronism from the days when we didn't have instant communication.
	So the London banks would call each other up at the end of the day and go, "Hey, what did you sell pounds for today?
	Would you sell dollars for today?
	At what rate?
	And then they come up with a rate and they would publish it every day.
	So we give people something, a benchmark to work from on the next business day, because it was necessary.
	But it's always, also always been the thing is, that's what's going on in London.
	Does it have anything to do with what's going on in New York or Atlanta or Minnesota?
	But so now in previous times past when the Fed tries to raise interest rates and
	If the dollar markets overseas start to seize up because the Fed's raising interest rates, cutting back on liquidity, global dollar liquidity, then the offshore dollar banks, which are more leveraged than the American banks are in terms of dollars, and are greater in their size, the offshore dollar markets dwarf The American dollar markets, right?
	I don't think people realize, a lot of people don't realize this, that there's 10 times more dollars floating around overseas than there are at home.
	Right.
	And it gets worse and has gotten worse every year because of our, you know, selling debt and buying goods.
	Right.
	So as our debt increases, we're, and then that allows everybody to lever up and get, and get more and create more dollars and then have, and then effectively have more control over a Fed monetary policy.
	Because if the world gets a cold, right, and LIBOR starts to blow out because the cost of dollars starts to rise locally as people scramble for collateral and make their payments and make their payroll and all the rest of it, well then, as LIBOR rises, even though the American banks may not necessarily as LIBOR rises, even though the American banks may not necessarily be under any stress at all, but guess My car loan has to go up.
	My credit card rate has to go up.
	My credit revolver, if I'm a Permian Basin oil driller, my credit revolver went from 4% to 9%.
	This is what happens, and eventually that forces the Fed to pivot.
	And it always happened in the past.
	When you had globalists running the Fed, especially Bernanke and Yellen, under this zurp-nerp kind of zombie friggin' global economy.
	Well, SOFR went into effect in pilot project in 2017, rolled out slowly over a five-year period in order to replace LIBOR so that American debt trades against real American debt transactions and demand for money domestically as opposed to globally.
	So now, The link has been cut.
	City of London no longer controls the debt indexing in America.
	And now LIBOR actually has to follow SOFR and has to actually follow what it, anticipate what it thinks the Fed's going to do next.
	And if you, and I've been charting, I've been doing this for a while now since I started thinking about this.
	And every Fed rate hike has always been, has to be anticipated.
	In severity, by the LIBOR markets, so that there's not a rate shock on the day when the Fed raises rates.
	Guess what?
	Today, right now, the LIBOR markets are in denial that the Fed is going to raise by 50 basis points in three weeks.
	The spread's still nine basis points.
	By now, normally, it would be freaking 25 or 30, and we'd be moving up that ladder, and complete denial.
	So, this is a big sea change, James.
	This is a fundamental thing, and LIBOR is going to be dead by June of this year.
	Okay.
	So far, we'll be... That's going to reduce the power... What's that?
	It's going to reduce the power of the City of London.
	Yes, over American markets.
	What's it going to mean Okay, what's it going to do for us ordinary folk?
	Is it net positive?
	It is in the long run because it allows the United States and allows the Federal Reserve to finally have control over its monetary policy for the first time since really the end of Bretton Woods.
	And if the Fed is actually acting in the United States' best interest, which is what I'm arguing, Not, you know, because Powell's made it abundantly clear, he's like, we are not the central bank of the world.
	We, he said it this morning, we are not coordinating, we do not have anything to say about climate change outside of a congressional mandate.
	on us, which Congress hasn't done.
	He said this this morning, explicitly, again, saying the same thing that he said to Christine Lagarde last June, before he started tightening offshore dollar markets.
	He started doing that when he raised the reverse repo rate five basis points over the Fed funds rate and drained a trillion dollars out of the offshore dollar markets in three months, and the euro collapsed from $1.22 to $1.15.
	This was in June of 2021.
	OK.
	Now, OK, go ahead.
	I'm sorry, because I can I can write on this for 20 minutes before you even get it.
	I don't want to go too fast.
	This is so the Fed.
	You're saying it's rejecting the climate change narrative, and it's acting more in America's interests.
	Absolutely.
	So, it's arguable that this could have a positive knock-on effect in Europe, because if America's not playing this stupid shit game anymore, it's going to be harder to justify insane climate policies in Europe, maybe?
	It's also going to ensure that the ECB goes bankrupt.
	and that the European Union breaks up.
	Yay.
	Okay.
	This is the game.
	It's also taking the money away from Congress to fight a war, which is why they're so desperate to get us into a war, because they need to get the Fed to monetize trillions of dollars of war spending to neutralize the situation.
	This is what Martin Armstrong was talking about in that article this morning, or that article about the interest rates in war.
	This is the underlying thing that he was talking about.
	And the Fed is clearly trying to stop World War III by pulling back on the dollar supply.
	This is weird, Tom, because, I mean, certainly since I became awake, I've thought of the Fed as the embodiment of pure evil.
	I mean, maybe not as evil as BlackRock, but pretty evil.
	I agree.
	Look, dude, I hate the Fed, as somebody put it on my Twitter feed this morning, with the power of a thousand suns.
	But right now, they're the guys with the motive, means and opportunity to break the people who are even worse than them.
	Wow.
	Am I right, by the way?
	I may be wrong, folks.
	I mean, I've been promulgating this thing for almost over a year and a half now, and keep asking people over and over again, prove me wrong.
	I want to believe that I'm wrong, because the best way to constantly do it is to steelman the argument.
	And I've been trying to steelman this argument for a year and a half and watching it play out.
	But day in and day out, I'm starting to get people going, I think Tom's right about this.
	I hate the Fed, but damn it!
	He may be right, because their incentives line up.
	Okay, so forgive me if I ask dumb-ass questions, but I'm just trying to understand myself and then maybe on behalf of everyone else.
	Going back to my, sort of, they're all evil, but these are rival gangs duking it out.
	Rival mafia families.
	And it just so happens, by some quirk of history and fate, that the Fed, which we know is evil, with the Thousand Sons, whatever, That somehow the interests of the evil banks that own the Fed that JPMorgan and the Rothschilds and the Rockefellers and stuff happen briefly to align with those of us ordinary folk.
	Is that right?
	Yes, that's that's the best way of looking at it.
	And I and I would also I would also remind you that I really do believe that Goldman, Morgan, Citi have more power within the Fed today than the Rothschilds and the Rockefellers.
	I think the Rothschilds have been marginalized here.
	Because you've got a very interesting split on Wall Street.
	You've got Bank of New York, Mellon, and BOFA, Bank of America, and a couple of others.
	And they're all in the Davos camp.
	And then there's subsidiaries like BlackRock and Vanguard and whatnot.
	They go to Davos every year.
	They sit and chat with Klaus Schwab.
	Who wasn't at Davos 2022?
	JPMorgan, Goldman Sachs, Citigroup.
	Now, they're all going to be there this year.
	Somebody published the entire guest list, and I tweeted out this morning, when Jamie Dimon comes out this morning and says, The Fed's going to have to keep interest rates well above 5% for quite a long time, certainly through 2024.
	And echoing what Bullard has said, echoing what Powell has said, and other people, and I'm like, so, interesting.
	You think Diamond's going to go and tell Klaus von Kami Schnitzel that he's done?
	Is he going to Davos this year to, like, revoke Klaus's charter?
	Because that would be hilarious.
	And when I watch Jamie Diamond talk, he's like, fuck ESG.
	We need to drill for oil.
	Like, this is just dumb.
	Whatever we've done here is just stupid.
	And anybody who thinks otherwise is dumb.
	I've never really liked Jamie Dimon, but I've liked what I've seen in the last 18 months or so.
	And my partner, Dexter White, made this point to me one day when we were chatting about Dimon.
	Dimon in particular.
	He said, do you remember, he had that aortic section a couple of years ago where he nearly died.
	Right?
	You know, his heart basically exploded.
	If he hadn't been where he was at that moment in time in proximity to the best heart surgeons in the world who understood what was happening to him, he was dead.
	Now, even a guy like Jamie Dimon has a moment of clarity after a moment like that.
	It's been JPMorgan Chase that has led the fight against the European sovereign debt and European negative interest rate policy.
	It has been Morgan that has been the catalyst, the tip of the spear, over and over and over again.
	And it's hard for me not to see that, that way.
	And again, I'm not trying to turn any of these people into good guys.
	I'm not trying to have any of that, but you know, there's a certain point where you have to ask yourself, personnel is policy.
	And you know, and if you don't assess these men as men, if you just assess them as cartoon characters, then you wind up in a, you wind up at a very easy place to be, but you don't necessarily wind up in a very accurate place to be.
	You may be accurate in the long run, but you've got to work through the order of operations to see how we get from A to Z. And are there opportunities for off-ramps between here and there?
	Again, not saying that it's not a big shit sandwich where we all have to take a bite.
	We do.
	The markets are so mispriced, the assets are so mispriced, it's going to be hard on everybody.
	But right now, the Fed is trying to cause deflation because de-dollarization is going to cause hyperinflation.
	Okay?
	The Chinese are divesting their treasuries.
	The Russians have already done so.
	The Japanese are even having to do so to protect the yen, yada, yada, yada.
	This is all happening.
	And all those offshore dollars have to come home and be destroyed.
	Otherwise, the dollar hyperinflates and the Fed loses everything.
	Yes.
	Okay, so natural that the Fed can't even pivot here, even if it wanted to.
	And this is why I keep saying that we're going to go to 7% on the Fed funds rate in 2023.
	Because I don't see how the Fed can do anything else other than say to capital, come to us, we'll pay you 7%.
	Yes, Congress, you're going to have to stop spending money.
	Yes, Congress, you're not going to be able to send 50 billion dollars to Ukraine next year.
	Isn't that shit for gold, that high interest rate?
	No, no, no, no.
	They're having to do that because there's a loss of confidence in the Federal Reserve.
	High interest rates are a response to a loss of confidence in the stewards of the currency.
	Gold will peak when interest rates peak.
	And then once everybody's, just like in 1983, once Volcker raised the interest rates high enough that he could divert capital back into the, and convince everybody he was going to save the dollar, that's when gold peaked, that's when interest rates peaked, and then interest rates start to come down, and then gold gets crushed.
	And then gold goes back into a bear market.
	Because people can now believe in the system again.
	And they can put their money into an interest-bearing asset.
	We're going to the gold part of the conversation earlier than I'd intended, so if you don't mind, we'll rewind back to this point in a moment.
	No problem.
	But since we're on the subject of gold, I mean, gold's been really disappointing for a very, very long time now.
	Is it ever going to do the thing that gold bugs want it to do?
	It's already doing it.
	Everybody bitched about gold in 2022 and gold was the only major bear asset that was up other than the Nikkei and the FTSE 100.
	The DAX was off, the Eurostox 50 was off, the Dow, the S&P and the NASDAQ were off, U.S.
	Treasuries were off.
	German bunds were off, gold was up 1.2%.
	Yeah, put that in in like the last three days, but it doesn't matter.
	You bought on January 1, you looked at your gold balance on December 31st, you were up 1%.
	Everybody else was off 7% to 15%.
	I mean, bonds got killed 25%, 30%.
	Okay.
	So, relative to the rest of the markets, I see what you mean.
	And think about this as well.
	This was against a historic bull run in the dollar.
	The dollar went through a ballistic bull run last year, and gold still held its own.
	So in dollar terms, I mean, it's horrible making predictions, but where can gold go?
	Where will it go?
	Oh, I won't do that.
	What I'll say is, again, it's like, yeah, I can pick a number and it'll be, you know, that was nice.
	And, you know, it smells like shit because, well, it is.
	What I'll say is this.
	Because as a technical, as a chartist, and as a technical analyst, I just look at it and go, okay, well, we've got a little bit of a bump in the road, the resistance zone at around 1,900, then we've got the all-time high.
	And we've got everything above 2,000, between 2,000 and the all-time high around 2090.
	Watch for a weekly close above 1,900.
	If that happens, we're probably going back to 2,000, then we'll do the round number dance at 2,000 for a couple of weeks, maybe get a correction, and then we should go higher.
	If I'm right about loss of institutional confidence, Gold will easily break the all-time high in the early part of this year.
	The Fed will usually come in in March and try and crush gold in some way.
	They always do at the March meeting.
	It's like clockwork.
	We get a Q1 rally, and then we get two quarters with the doldrums, and then we get a Q4 rally.
	Gold has been doing this shit for like eight years now.
	But Powell, I don't think, is as hostile to a rising gold price because he knows that, in a sense, he wants interest rates to rise, and he wants higher yields in order to slow everything down, in order to cool everything off and attract capital back to the U.S. in order to cool everything off and attract capital back And what's the best way to do that?
	Allow the yield curve to rise.
	Allow the yield curve to go upwardly sloping and not to have this big, you know, 210 inversion that we have on the two-year versus the 10-year.
	It's about 65 basis points.
	So, I don't know, man.
	Like, I can see gold at 2300 to 2500 by the end of the year, given, you know, that wave pattern easily.
	And I think it has to.
	And then in 2024... Which is even better for miners, yeah?
	Yeah, no, it's good for miners.
	So my point being is that watch gold relative to oil because the biggest input to gold mining is, of course, energy.
	And if we'll get $2,300 gold if oil goes back to $100 a barrel simply because the gold miners won't be able to sell into the market and make any money at less than $2,000 an ounce, okay?
	Yes, of course.
	Right.
	Good point.
	So we'll see $2,300 to $2,500 gold next year.
	I don't think that's even going to be hard.
	know, we'll see 23 to $2,500 gold next year.
	I don't think that's even going to be hard.
	Like, it's honestly, it's only a 25% increase.
	And if you're, you know, that's not, you think about it.
	It's like, it's what, 400, four to 500 bucks over 1900.
	What is that?
	Okay.
	Yeah.
	20%.
	Right.
	I think 20% return on gold once every decade is not a bad idea.
	Like, you know, I can see 20% increases in gold for the rest of the decade.
	And then we see what happens and where that goes.
	Is it, why do we wind up at 6,000?
	Again, the Chinese are buying now, the Chinese have changed their buying pattern.
	They're, they're not their buying pattern, but their, their, um, Again, I was chatting with my partner about this yesterday, and he said, well, what about China?
	I said, notice what China's done.
	They've now, usually when they restate their gold reserves, they just come in and go, we've added another 800 tons or 1,000 tons to our reserves, and they don't say anything for six years.
	Now they're going 30 tons a month.
	They've done two months in a row now, around 30 tons that they've added.
	If they do a third month, this is the new policy for China.
	Right.
	The Russians have been buying gold like you wouldn't believe, and they're going to continue to do so, but they won't publish the numbers anymore because it's a strategic asset.
	So they've just stopped reporting the numbers.
	But you can assume that the Russians are adding most of their trade surplus in gold every month, and they're buying it probably at $300 under the market from their miners, from their domestic production.
	Right.
	They're probably paying $1,400 an ounce for it.
	So, you know, and then everybody else is starting to buy as well, but they're doing so because they're worried.
	So.
	Get the Silva?
	Silver is an industrial metal.
	It is no longer a monetary metal.
	It has a little bit of monetary character.
	What I would say is this.
	What I've noted at silver is that silver is actually the new copper.
	Whereas copper used to be the Dr. Copper.
	The thing, are we going into a recession or are we going into an expansion?
	We'd watch copper.
	Us commodity guys, we'd watch copper.
	I think silver has replaced copper because of the importance of the chip industry and because of the literal zero stock to flow.
	Nobody keeps strategic amounts of silver around, right?
	It just flows through the market.
	There are strategic stockpiles of copper around, which buffer and futz with the price.
	I think the two of them in tandem tell you what's happening in industrial metals.
	So, silver is your leading indicator of what's going to happen in industrial metals.
	We saw this this fall.
	Silver started to break out after the low to down into the high 16s.
	It's now trading around 24.
	Copper now is breaking above its range between $3.75 and $4.
	And now the rest of the metals are going to follow into the rest of Q1.
	Is silver going to do well here?
	Break through $26, it's going back to $32.
	If it goes to $32, it's going to $50.
	If war breaks out, easily $50 silver.
	Like global war.
	Easily $50 silver.
	Okay.
	Fine.
	Okay.
	And where are you on cryptos at the moment?
	I just tweeted out this morning, actually, somebody asked me about this.
	Somebody mentioned it.
	I tweeted to somebody else.
	Hey, during the gold bear market, you should be buying gold and selling your Bitcoin into the Bitcoin bull market.
	Well, Bitcoin is now in the bear market.
	Gold is starting the bull market.
	So you should be buying the first half of the gold bull market.
	Then stop.
	Let it run.
	And the money you would usually buy gold with every month, now you buy Bitcoin with.
	So, as a contrarian indicator, they're both hard-bearer assets, as far as I'm concerned.
	Bitcoin and gold have a lot of characteristics in common.
	And right now, they're out of phase with one another.
	Bitcoin is $17,000.
	Yeah, it may drop a little, you know, you may just want to keep stink bids under the market in Bitcoin.
	Watch it carefully.
	For any break below $16,000 though in Bitcoin, it's going to go to $11,000.
	And then that'll be the end of the bear market.
	And then you buy with both fists.
	But if you just want to like buy a little bit every month, yeah, it's cool.
	You know, just buy a little bit, you know, buy a couple hundred bucks and keep sticking in a wallet and don't trade it so that you incur capital gains.
	Don't fuck around.
	Just buy it and accumulate it.
	Same thing with gold.
	Stack stats, stack coins.
	Same thing.
	Don't open yourself up to ridiculous tax implications on this stuff, because it's not worth it.
	You want to make money on the big trend, where you hold it for a decade, and then at the end of it, you're like, oh shit, I have life-changing money.
	Because that's the best way to play this, I think.
	I can chart with the best of them out there.
	That's not being arrogant or anything, but I can't trade with the shit.
	I can read the charts, but I can't trade them because I don't have the right personality or temperament for it.
	So I don't, but I can advise people how they can trade.
	They've got the personality for it and they need a confirmatory chart read.
	I have patrons who are commodities traders and hedge fund managers and whatnot.
	They ask me for chart reads all the time.
	And then they go, yeah, that's about what I saw.
	Cool.
	But you're showing it to me from a different perspective, which is great.
	Yes.
	Okay.
	Going back to that early point in the conversation, you've cheered me up, Tom, in many different ways.
	I mean, you've sort of presented the... You've talked about imminent war, and you've made me feel positive about it, because you've shown me that... I don't mean the gold and silver price, I mean more the fact that your point about... Yeah, you're right!
	I think there may be a counter... What I'm saying, James, is I think there is a counter-revolution that's out there, and it makes sense that there would be.
	And I don't know if they're going to win or not.
	But we should at least be open to the idea that there is there.
	It is there.
	And what we see, we should support publicly.
	Because if we can move the zeitgeist on this, then we can avoid the fate that we think we're... I mean, it's like everything else.
	If you put the right ideas into the world, they may come back to you.
	I mean, I hate to be all woo-woo about it, but if you put the right energy into the world, you might just get that back.
	Okay, well one of my favourite take-homes from this conversation so far is what you were talking about is this schism in the cabal or the predator class between JP Morgan and Co and Citibank and on the other hand Rockefeller's Rothschilds and stuff.
	Now, if I remember rightly, the WEF is essentially a Rockefeller project.
	Nelson and David Rockefeller, I think.
	And Kissinger and all the rest of them.
	Kissinger.
	Kissinger headhunted Klaus Schwab.
	Yes.
	Who may be of Rothschild ancestry.
	Yeah.
	Yadda yadda yadda.
	So what it means is that that set of baddies are possibly on the back foot right now.
	I think they are.
	Because the Rockefellers invented the whole climate change agenda as well, didn't they, really?
	Yeah, no, I think you're right.
	I think that's a perfectly reasonable read.
	Again, it may need more fine-tuning than that, but as a first-order approximation for people to wrap their brains around, I think this is the best way to kind of look at it.
	Because again, these people are all sharks, right?
	What happens when there are no more piranha in the shark tank?
	Then the sharks have to turn on each other.
	Yeah, or what happens when a great white fights with a tiger shark.
	Right.
	Or a bull shark.
	Right.
	Exactly.
	So, the way I described it on, I think, when I was on with Tom Woods, I said, just think of it this way.
	There's giants fighting in the clouds.
	Jack, and we're Jack, we just climbed up the beanstalk and we're like, uh, trying not to get stepped on.
	Who do you want to win?
	I don't know.
	I just don't want to be stepped on, but I think it's those, I think I want that giant to win.
	And when they're, and when the two giants are done fighting, we hope that one of them is so wounded that we have the opportunity to then take them out later.
	And that's the way I have to look at it.
	And we'll see what happens.
	And the other thing I wanted to sort of add to this discussion was a friend, when I was feeling really low, When it was when it was about 2021 and I could see these death jabs being rolled out and one loved ones succumbing to this propaganda and stuff and everything's, you know, an imminent financial collapse and so on.
	And a friend of mine who runs this speaker agency and one of one of the is that he's actually my speaker agent.
	He can never get me any work because I'm too controversial.
	All the corporate clients are saying, what, James Madd Dellingpod?
	No way, no way, you know, just that's too far.
	But he's a lovely bloke and one of his clients is very well connected in the world of commerce, you know, sort of one of those organisations that represents all the bigwigs involved in commerce.
	And what this person was telling him Bingo!
	was that no, things are really, really bad.
	I mean, much worse than people understand.
	But there is cause for optimism because it is finally dawning on the higher-ups that they're not all going to get a seat at the top table when this is, you know, they were not part of the plan.
	Bingo.
	Bingo.
	Yes.
	And when you pull that shit to the New York bankers, they're like, uh, yeah, fuck you, dude.
	Like, fuck you.
	And so now let's talk about BlackRock, because I know you're going to like what I have to say about BlackRock.
	Oh, please!
	Okay.
	So, Martin Armstrong, again, Martin Armstrong, about six, I don't know, no, it's almost nine, maybe ten months ago now, he writes a private blog post talking about BlackRock, and he says, you know, it's been almost 51.6 years since BlackRock's been founding, and that would put them cyclized in a very, very vulnerable position.
	I'm like, all right, Martin, what are you trying to tell me here?
	So a couple of weeks later, I'm doing my market report.
	I do a twice weekly private podcast for my patrons.
	You know, kind of an informal chat and then some chart reads and some slides, right?
	Talk over a PowerPoint.
	And I'm like, I'm looking for something interesting to talk about that morning.
	I had nothing else.
	And then, bing, that popped into my head.
	And I said, I sat down, popped up investing.com, looked at BlackRock's balance sheet, its financials and all the rest of it.
	And I looked at it and I went, All this money rests on $38 billion worth of shareholder equity.
	That's it.
	All this power, all this might, all this $8 trillion worth of assets under management, blah, blah, blah, blah, blah.
	All this power that Larry Fink has.
	They have access to the Fed Fund.
	They have access to the Fed discount window directly to go get cheap money and go buy up, you know, burb claves outside of Minneapolis or wherever the hell they wanna fuckin' do with it and overpay for it, which they did.
	I'm thinking to myself, $38 billion, that's not a lot of money.
	Yeah, they do $100 billion a quarter in asset management fees.
	Okay, great.
	And now I think about who they're aligned with.
	And now I think about Jamie Dimon.
	And I was in a, I was doing a, I did a speaking thing down in Miami.
	I was sitting out in the, the, the, the, the second story, uh, uh, you know, veranda on the, at the, at the Hyatt with my, with some people.
	And I said, got, I had a rye in one hand and a cigar in the other.
	And I sit back and I go, all right, now I'm Jamie Dimon and you're Solomon and Goldman, and you're this guy and you're that guy.
	So.
	That Larry Fink guy over at BlackRock.
	Getting a little uppity, don't you think?
	Thinks like he actually runs the world, don't you think?
	What did they do last quarter in business?
	A hundred billion bucks?
	It's a nice book of business.
	I don't know about you, but my net interest margin, you know, banking is crap.
	What did you make last quarter?
	What did you make last quarter?
	Why is he getting all the fucking money?
	Oh, and he's gonna tell the Fed what to do?
	I have a solution to this.
	I'll take 50%, you guys split up the rest of it however you want, and we'll take them out.
	Well, how are we going to do that?
	Well, we call up our pal Jerome over at the Fed, and we raise interest rates in a year 4.5%.
	That conversation happened in early 2021.
	I'm convinced of it.
	While BlackRock was using the Fed discount window, which Congress gave them that power through the CARES Act thanks to Trump, the idiot, They were planning on massively raising interest rates and trap BlackRock in a whole bunch of overpriced domestic real estate.
	I think that's coming.
	And you see it in BlackRock's chart.
	It's everywhere.
	It's tracing a bankruptcy chart.
	It's tracing Enron.
	So, they're crashing the property market through high interest rates?
	Well, they're crashing certain property markets.
	They're going to crash certain property markets.
	Which are?
	They're really overpriced ones.
	Are they going to crash the ones in rural North Florida, where I am, that's already a terminally underpriced market relative to the rest of the world?
	No.
	But they didn't buy a lot of that stuff.
	They bought some of it.
	They bought some overpriced tract housing on the west side of Gainesville for $400,000 a piece, when those houses are worth no more than a quarter of a million.
	So multiply 70 tract houses on the east side of Gainesville, you're upside down $150,000.
	Buy 50.
	And now all of a sudden, it's starting to become real money, especially when you're starting to talk about your equity balance, which is only You know, and then multiply that by 50 or 60 cities.
	Now all of a sudden you're $38 billion with the shareholder equity.
	It doesn't look so good.
	And most of BlackRock's liabilities aren't even direct debt.
	They're interest rate derivatives based on that debt.
	It's even sicker than that.
	They are so leveraged.
	They're so leveraged it's not funny.
	And Think has made himself a series of very powerful enemies on Wall Street.
	I'm convinced of it.
	It makes no sense for me whatsoever to believe that Diamond doesn't want their fund business.
	The same way that he blackmailed everybody over Lehman Brothers going belly up.
	He did the same thing to Dick Fould.
	Stole their business.
	So this has got to be bad for Mark Carney as well, because he's in bed.
	Oh, and nothing would make me happier than to watch that prick fucking fall.
	God, I hate that fucker.
	Yeah, yeah, yeah.
	Jesus.
	I'm... Tom, I'm getting overexcited now.
	Because... You think you're excited?
	Feel these nipples.
	I'm sorry.
	Oh, yeah.
	Well, OK, my nipples are harder than yours.
	I'm sure.
	I'm sure.
	So...
	Well, I mean, I think one of the great fears of many of the people watching this podcast is that BlackRock were going to buy up all these properties around the country at sort of knock-down prices and it was all part of the WAF's plan, you will own nothing and be happy.
	Yeah, no, absolutely.
	So you're saying that, I mean, presumably it has been happening, this BlackRock thing of buying up property everywhere.
	How are they going to support that?
	When they bought all that stuff, it's 0% fed funds rate or 1% fed funds rate.
	And then they're going to have to pay against 7%.
	This is a big deal!
	Who do they sell this shit to if they try to get out of it?
	When you say leveraged?
	And it's all leveraged.
	How leveraged were they?
	I don't know that answer.
	But I just look at the numbers and I say to myself, they're vulnerable.
	And the people who best know how to take advantage of that vulnerability are on the opposite side of the trade.
	So I'm just going to watch it, not just popcorn.
	They may be evil sharks, but there are evil sharks.
	Right now they are, and they may be wildly entertaining in the process.
	If you know how to read some of this stuff... Dude, I cackle at this crap every day, James.
	I may be cackling on my way to the freaking graveyard, but if you're not having any fun, you're doing it wrong.
	Yeah.
	You know what I mean?
	I refuse to be completely black-pilled about this stuff, because it's easy.
	I mean, it is easy to be that way, and I don't begrudge anybody who is in that headspace, because it is so fucking monstrous and evil.
	Yeah.
	But part of me just says, look, you know, why don't we look for where the outs are?
	You know, if you're a poker player, you're always calculating your outs, right?
	Am I in a good, you know, where am I in the hand?
	How many outs do I have?
	How many outs of my outs do my opponents have?
	Blah, blah, blah, blah.
	Do I have the nuts?
	You know, and then you go, and then you just play the hand you're dealt as best you can.
	And then look for your outs and then say, okay, well, these are our outs.
	And from a, you know, and then you just, you know, I can't, everybody has their incentives to survive.
	And when everything is pushed to its existential crisis point, that's when you find out where people's character and what their real true natures are.
	Like, they don't call him Private Equity Powell for nothing.
	I've said this, I've told this story a hundred times where I said, you know, the first day after I started having this idea that maybe Powell was off the reservation, I went to my people on our private chat server and I said, look, this is what I'm thinking.
	Am I crazy?
	And one of my patrons at the time, who was very active at the time, is a former, you know, is a hedge fund manager and knows all of these people.
	Like, he knows Powell and Dimon.
	He knows all these people because he used to be a part of that group.
	And he's like, they don't call him Private Equity Powell for nothing.
	You're not off base.
	Like, he is cut from a different cloth than the people who have run the Fed beforehand.
	He's cut from a place where he's put his capital at risk in a real situation, as opposed to Bernanke and Yellen, who've never held a private sector job in their lives, who have never managed other people's money, who have no responsibility to anything other than the oligarchy for which they serve.
	And so that's a different headspace.
	And so, is it enough to, you know, derail the train?
	I don't know, but I can hang my hat on that and then put that into the ether, put it into the zeitgeist and then see what happens.
	I'm liking your hat stand, Tom.
	It's a very attractive shiny hat stand, which I would put my hat on too right now.
	It's good, it's good.
	We've done precious metals and we've done cryptos.
	Where's property going to go?
	Surely it's going to be not good for property in the next year.
	Very mixed market.
	Depends on where you are.
	If you're talking about the American market, everything that's overpriced is in trouble.
	Yeah, so we're talking about your Hovel on the outskirts of San Francisco that you think is worth $600,000.
	you think is worth $600,000, you better sell it now because it'll be $450,000 by the end of June.
	If you're talking about where I am in, I identified where I am in rural North Florida as the next ring of development in this area.
	That's like rural North Florida, southern Georgia, the Panhandle, lower Alabama, what we call LA or lower Alabama.
	I think that all that whole property market does well because people can sell and they have been selling their hovels and you know, they're they're they're they're things in the they're they're three two in the burb clave in suburban California that they paid 200 grand for 15 years ago.
	They sell it for 600 or 650 come to Florida come to where I am and buy a five-acre ranch in Right?
	Already fenced with a freaking barn on it or pole barn and for $200,000 or $250,000.
	Pocket the $350,000 and live off the interest while they're trying to figure out how they're going to make a living out there in a place like White Oak or north of Lake City.
	There's so many options and I see that from so many people that it's what we're seeing.
	So I've seen land prices in my area, for example, double what they were languishing in 2019.
	Yes.
	Mushroom.
	$4,000, $5,000 an acre, and now road front property in my area is $9,000, $10,000 an acre with no problem.
	Easy, $13,000 in some places, easy. - But Tom, I can't move there 'cause I haven't had the death jab.
	And your president, your cabbage in the office.
	- Mushroom, I like to call them the fungus. - The fungus, yeah.
	I like eating mushrooms though.
	I don't like mushrooms, so for me it's like, you know, like the first fungal president.
	They keep them in the dark and feed them bullshit, right?
	So your fungus won't let me in, so I can't bite.
	Have you got any views on my own country?
	Well, as far as UK is concerned, I don't really know the UK property market at all.
	I'd say that London is probably in trouble.
	You know, if you've got overpriced property in London, you're probably in trouble if you're leveraged on it at all.
	I would think that the rural property is, again, I would think the rural property is going to be What we have is a world filled with cantillionaires.
	If you're familiar with the phrase, the cantillion effect, which is those who are closest to the creation of new money get access to it first.
	So these are all cantillionaires, right?
	And it's a great phrase.
	I can't take credit for it.
	One of my patrons came up with it.
	I'm like, nope, but I'm using it.
	So the cantillionaires are the ones that are, interestingly enough, they're the ones who are in trouble in a high interest rate environment.
	So look where they are, right?
	Because they all got their debt at 0%, but now their debt's going to be, but now they have to deal with a rising cost of capital, either on their business, or their business expansion, their property, their home value or whatever.
	And their balance sheet is based around 0% zero cost money.
	Now money costs 7%.
	So the value of their balance sheet, even though it may not affect their cashflow, but it's certainly gonna affect their equity and their balance sheet, it's gonna drop tremendously.
	And that means that you're not able to lever it up as much and blah, blah, blah, blah.
	So their HELOCs are going to be able to take a HELOC against the property, and if they do, it's going to be at 9%, and it's only going to be 30% of the loan value of their equity as opposed to 70, yada, yada, yada, and that's all going to pull back, right?
	You mean that they're going to be tightening their belts rather than, as they have been before, leveraging up to their whatever?
	Sure.
	When money costs nothing, why not lever up?
	Why not use other people's money?
	When money costs nothing, then so does risk.
	And so that's why we get, you know, in a classic Misesian, Austro-libertarian perspective, when money costs nothing, we get malinvestment into things that are based around a low interest rate environment.
	So we get investment into windmills and, you know, boondoggle projects and electric vehicles and, you know, $30,000 with the solar panels on our houses in the North.
	You know, get an hour and a half of sun a day.
	What the fuck are you talking about?
	The return on investment on the solar panels is twice the length of service life of the damn solar panel.
	You're just burning money.
	Even at 0%, you're burning money.
	But hey, you know, bar be it for me to tell people what to do with their friggin' cash.
	Sure.
	Well, maybe some of them are.
	- Can you just ask a stupid question? - Sure. - If they're cantillionaires, surely they are so close to the inside track that they've been able to see what's coming.
	Therefore they've been deleveraging so they're not exposed anymore. - Well, maybe some of them are, but a lot of them, if you look at the way the markets have been pricing, the markets don't believe that the Fed's not gonna pivot.
	And because of that, and they also believe that they have enough political power and a political pull to force the Fed to pivot.
	There's a lot of that been going on as well.
	So you're right in that that's a real... So did some of them get out?
	Sure.
	Did they already move into commodities?
	Yes.
	Have they already bought gold?
	Absolutely.
	Have they already traded out their London flat for a couple acres in the country?
	Maybe.
	Right?
	But at the same time, that's not the real bulk of this.
	Moreover, when you start to think about the funds that have been created off of that and the amount of money that's been pushed into funds and investment vehicles that have very specific covenants, very specific prospectuses, And they can't get their money.
	And these funds are so big that they can't move their money.
	They can't move a lot of money without moving the price.
	And now all of a sudden, that's the problem.
	Now liquidity becomes everything.
	So you're BlackRock sitting on a $200 billion or, you know, $100 billion fund and you need to, and you start getting hit with a whole bunch of redemptions.
	And then you got to sell into that.
	I mean, all of a sudden, everything that just has a massive spillover effect of the underlying assets.
	Because those redemptions hit, then BlackRock has to sell the underlying assets, the shares, and then they have to fall in price.
	And you can't, you know, when it comes to like an interest rate derivative, they'll sit there and they'll play the game of leaving it on their balance sheet at model versus the market, because there is no market for these things.
	And so they mark the model versus mark the market.
	And then they keep their balance sheet looking better than it is.
	But eventually somebody calls bullshit on them.
	And eventually they have to like, they have to realize the loss.
	Eventually it starts to show up.
	They can paper over the losses for a few quarters, they can get around it, and then all of a sudden, one day you wake up and they don't have any liquidity.
	Oops.
	And then the Bank of England has to subordinate itself and bend the knee to BlackRock in order to keep BlackRock solvent.
	Because this is exactly what happened when the pension funds went belly up the other six months ago.
	This is more good news, I think, isn't it?
	It's excellent.
	It's excellent.
	Again, my nipples are hardening up.
	Sorry, you shouldn't have put that thought.
	We're probably upset.
	It's an old line from baseball.
	It's that great moment at the end of the day when Bob Costas and Al Michaels are like, you think you're excited?
	Feel these nipples!
	Al Michaels, of all people, to make that joke was hilarious.
	That movie's hilarious.
	If you're an American sports fan, that movie is still like...
	It's so good.
	I'm not sure, who are going to be more upset, the male viewers or the female viewers?
	But we haven't done, we sort of touched on it, we haven't done stocks.
	Presumably, I should have, if I'd had any sense, I should have liquidated my portfolio like last autumn.
	No, you still have an opportunity.
	If you're in the footsie, if you're in British stocks, actually they did really well last year.
	Because the British pound got killed, right?
	So people moved out of the currency and out of the debt and into stocks.
	The general theme, James, is tangible assets, right?
	What's tangible assets?
	For example, a year and a half ago, I put my people into the Turkish ETF.
	Why?
	Because Turkey was going through hyperinflation, and the Turkish stock market has tripled.
	We've made money.
	I didn't even catch the beginning of the move.
	I caught the middle 50% of it, and I think we're up by 85% in the portfolio on it or whatever.
	It's only 85%.
	We didn't get the full triple.
	If only I'd subscribed, Tom.
	I feel like I've cheated myself.
	But, you know, similar things going on.
	I was really surprised, actually, when I was doing a post the other day and I went through and I grabbed all the major stock markets.
	I was like, oh, look, the FTSE was actually up a couple of percent last year.
	So you traded water.
	While the currency lost 25%, you traded water.
	So those who moved their savings out of pounds and into British stocks were actually able to preserve some of the purchasing power.
	You see what I mean?
	So, are we going to see another move down in the pound this year?
	Probably.
	Versus the dollar?
	Probably.
	So then the question is, do you rotate out of FTSE stocks and into the Dow?
	I think the Dow is going to 40,000.
	On capital flight out of Europe.
	Purely on capital flight out of Europe.
	Christine Lagarde at the ECB has two choices.
	And she's playing this game every day.
	She can either protect the value of the Euro, Or she can protect credit spreads internally within the EU and versus US debt, but she can't protect both.
	She has to either sell the euro to protect credit spreads, or she has to sell debt to protect the euro.
	She can't do both at the same time.
	Not with a hostile Fed.
	If the Fed is continuing to cut back on offshore dollars, there's no liquidity within the system for her to play the shell game.
	Okay?
	The euro is going to collapse, isn't it?
	I'm predicting a euro at 80 cents by the end of, yeah, at some point this year.
	Which is great for our European holidays, provided that we're still allowed to travel.
	Yeah.
	I mean, do you reckon they're going to try that shit on us?
	Do you reckon they're going to try and stop us?
	Because we're talking about civil unrest from the fact that people can't eat and heat their homes.
	So why do you think they're trying to keep you from being able to move around?
	Because if you can't move, then you can't organize.
	If you can't organize, you can't overthrow the government.
	Why do you think Klaus Schwab does not want anybody having individual transportation?
	He literally came out and said that the other day.
	We have to end individual transportation.
	So now look at what they've done.
	Remember what started the yellow vests?
	A few years ago, right?
	It was the 25 cent tax on diesel fuel.
	So the French people said, and they were angry and they were very vocal about why they were angry.
	You told us to stop buying cars that run on petrol.
	I'm talking to a Brit, so I'll use petrol as opposed to gasoline.
	And then we moved to diesel because you told us diesel was better.
	So we moved to diesel and we did what you told us to do.
	Now you're taxing us on diesel fuel and we can't afford diesel fuel.
	So, fuck you.
	You can't raise the tax on diesel fuel.
	So, we're starting to see the same thing with electric vehicles.
	They subsidize everybody to buy electric vehicles.
	They give us $25,000 on tax credit and blah, blah, blah, blah.
	They get the price down.
	They get everybody into electric vehicles.
	And now that we've moved, you know, some small percentage of people into electric vehicles, now you have Gavin Grusome out in California saying, we have to tax you extra for recharging your electric vehicles because you're putting too much Stress on the grid.
	Guess what?
	That was as predictable as the day is long, but that's not a bug, that's a feature.
	They're trying to get people to stop using individual forms of transportation.
	So they haven't even waited to get everybody into electric vehicles before they closed the trap door on us because the system is collapsing that much faster, because the transition is already too fast.
	Yes.
	Which is good in the sense that it wakes more people up sooner.
	Yes.
	Are you confident that people are waking up at a speed sufficient to counter this?
	I can't answer that, but what I can say is What we're seeing is people getting woken up across a number of different vectors all at the same time.
	So some people are awake about the vaccines.
	Some people are awake about the electric vehicle subsidies or this or that or this or that.
	And while individually, none of those things scream to, our government hates us.
	There's a conspiracy to kill us all.
	Once you encounter two or three of them, Then your pattern recognition brain that starts part of your brain that starts looking for threats, we'll see four, five, six, and seven.
	I think everybody's got about one or two in their quiver, not people like you and I, we've got them all.
	Yeah, we've got that full set.
	No, we've got them all.
	But I got there ages ago.
	Yeah, I know you did.
	I apologise for not being with you earlier.
	No, no, no.
	It's fine.
	It's what it is.
	Everybody gets there at different rates and that's fine.
	I grew up on a diet of Philip K Dick when I was a 13-year-old.
	I've been seeing threats to civilisation since I'm 13, for Christ's sake.
	But if everybody starts to see, I think most of the population's at the one or two stage.
	They've seen one or two threats, and they're not willing to go until they get that third or fourth data point.
	And it'll take more people.
	Some people will take longer to get more data points before they finally fall off.
	And for me, it was two.
	I'm good.
	That's it.
	I see the pattern.
	I'm done.
	And then there's the third one, and then there's the fourth one.
	And then I start doing this for a living as opposed to just screaming at people in my laboratory when I used to be a chemist.
	And everybody thought I was crazy.
	Now everybody calls me up and goes, dude, you were so right about everything.
	I'm like, um, it's, it's fine.
	It's great.
	I don't care about the credit.
	I just want people to be awake.
	I don't, I don't give a shit.
	It's not about my ego.
	My ego is big enough.
	I don't give a fuck.
	You know, I don't need that shit.
	The, what's important is that we get people there because we have to get people.
	And the more people we get there, the less chance Klaus and company have, uh, any chance of winning this.
	Yeah.
	I think that all of us in this space, I think, have a massive role to play in all of this.
	So, you know, if we just keep doing what we're doing, we're going to get there.
	I mean, this is an information war, ultimately, and so that means that you and I are on the front line.
	Yes.
	We are kind of... we deserve, I would say, Silver Stars, what's the... Congressional Medal of Honours, VCs.
	I mean, again, James, I get that every day.
	I get new patrons every day.
	I get people saying to me every day, thank you, I can't believe.
	The feedback I get from my patrons is off the charts.
	Now I have an army of 2,500 people who are my patrons who are literally out there scouring the internet and curating the internet for me.
	I don't even have to go out and find the shit anymore.
	I feel lazy.
	That's a good business model.
	But it is a brilliant business model.
	Yeah, and get your patrons to do the work for you.
	Well, no, I didn't intend it that way, to be honest with you.
	I just set up a chat server or a Slack, private Slack, simply to have a place for us to communicate.
	And so I could keep in touch with people if they needed questions or, you know, and a safe space for them to talk about whatever they wanted without Fear of reprisal and I gave them that and they've turned it into this.
	They've done this.
	This was self-organizing.
	This is a I what I've created is an intentional community and of like people and I and we were all doing it all of us who are got over podcasters and all of us who are doing anything like that.
	We're doing it whether we realize it or not.
	That's why I think locals is a even though I'm not on locals.
	I think the whole Framework of how locals operates and the tools that they give everybody.
	I think it's a great tool We we're not we don't happen to be there We're on patreon, but you know because I started this I'm totally with you Tom.
	Yeah, the people I've met I mean if I'd be able to look into the future and say You're suddenly going to discover that the world is run by an evil cabal which wants to kill you Poison you take your money Stop you traveling and stuff.
	I've thought well that doesn't sound very good.
	But actually my experience has been The people I've met since I went down the rabbit hole, I just love, I love my supporters, you know, whoever they are, they're the best people!
	They are!
	They're amazing!
	It's been so exciting!
	It has, and it's been, you know, it's funny, I'll give you a perfect example of one of, I'm not even sure I should say this, but we're, you know, in two weeks... Is it about your nipples again?
	No, no, no, no, it's nothing off colour.
	It's that, you know, just before the Christmas break, I never really break, never really take a day off.
	But somebody said, Hey, um, how many of us are in Florida?
	Why don't we get together for, and I'm thinking, cool.
	Yeah.
	Okay.
	Well, 15 of us, we'll take over the back of a Sonny's, which is the local barbecue chain here in Florida.
	And we'll just sit in the back and we'll, you know, go, you guys can watch me too many ribs and, and pontificate wildly.
	And you know, then I'll go out into the parking lot and smoke a cigar.
	We'll be great.
	Or we'll go over to the coffee shop and we'll smoke and I'll sit out front and smoke a cigar and we'll keep doing it.
	No, it's turned into, like, a big event.
	Like, we uncovered so much desire and demand to meet as a group.
	Like, I had to, like, get a room and, like, you know, it's insane!
	Yeah, yeah.
	And I'm looking at my people going, I adore you.
	I wouldn't miss this friggin' thing for the world.
	I've got people coming up from Canada just to have dinner.
	It's not even a two-day conference or anything.
	It's just dinner.
	We're going to do dinner and then we'll go to a pub afterwards.
	That's what we're going to do!
	And these people are coming down from freaking Canada or driving in from Savannah or from Charleston, South Carolina.
	What are you nuts?
	I'll come to you.
	Organize one in Indiana for Christ's sake.
	Not Illinois.
	I won't go there.
	Don't come to New York.
	I won't go there.
	No California.
	We'll go to Vegas.
	We'll have a good time.
	Well, Tom, I hope that I can one day, I hope America is not closed to me forever because it'd be nice.
	I don't think it will.
	I meant to mention this earlier, James, because I think we need to wind down because I got another call in about 10, 15 minutes.
	But but and I love the conversation.
	I'm happy to come on again, which is the following.
	One of the things in the House rules that the 20 rebels forced onto McCarthy, which is to get rid of all federal Vaccine mandates.
	It was in the rules that they have to bring that to the House for.
	And they just this morning fulfilled one of their rules, which was to rescind $70 billion worth of the budget for the IRS and the 87,000 new auditors.
	That bill passed the House this morning.
	So, I'll go to America again.
	Yeah, maybe.
	And like, you know, I have patrons over where you are in the UK that really want me to come over there.
	And I'm like, again, I'm not going to get vaccinated.
	So, you know, if it's a thing, I'm not going to.
	Dude, tell us where we can find you and subscribe.
	My work and all that stuff.
	You can find me over at my blog at tomluwango.me.
	That's L-U-O-N-G-O, but just search Tom Luongo, you'll find it, or anything close to that.
	And you can find me on Patreon at patreon.com.
	You can sign up for the newsletter or just the market reports in the chat room.
	And you can find me on Twitter at tfl1728, where I piss off everybody literally every day.
	It's so much fun.
	Thank you, Tom.
	And my side, I really appreciate your support, everyone.
	I really do.
	Remember that they, the enemy, are trying to make it really difficult for people like me to earn a living.
	They'll do anything they can.
	I get loads of shit from banks which don't want to process your payments.
	Try and find me on Patreon or Subscribestar or on Locals or on Substack.
	It doesn't matter.
	I mean, basically, you're just trying to give me money to do what I do so I can go on doing what I do.
	I hope.
	I really appreciate it.
	Thanks for your support.
	And Tom, thank you again.
	It's been great fun.
	Thank you for cheering me up.
	Yeah, and I'm glad we finally got the... that we were able to finally make this work.
	So, you know, third time's a charm and all that.
	It's all great.
	And whenever you want to do this again, James, absolutely.
	Of course you're welcome back.
	Yeah, and so... and the same thing goes for me.
	I want to just... I'll get with your... and we'll get you on my podcast and we'll go from there, okay?
	Oh, totally.
	I'd love that.
	Thank you.
	You take care.
	We'll talk soon.
	Bye-bye.

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