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March 17, 2023 - Health Ranger - Mike Adams

01:37:19

Situation Update, Mar 17. 2023 - Saving your financial world with Schiff and Celente

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	All right, welcome to the situation update podcast for Friday, March 17th, 2023.
	I'm Mike Adams, and you may not know, but I'm the original songwriter and singer of I Want My Bailout Money.
	So I've got to play a little clip for you right here.
	I Want My Bailout Money from 2008.
	Turn it up!
	I want my bailout money!
	Keep the bills coming.
	Sweet green cash just dripping like honey.
	I'm a new kind of drug with the Washington buzz.
	Cause dealing debt pays better than dealing drugs.
	What is this will happen when they double the money supply?
	A falling dollar makes it harder for you to survive.
	A drink is billions and trillions and give it to their own kind.
	Hope you don't mind being wild blind.
	How do you think we got runaway credit?
	Ain't nothing going down unless the crooks in Washington bet it.
	Now they regret it, but they still don't get it.
	Cause the economy is crashing so bad.
	These are paramedics.
	I want my bailout money.
	Sweet green cash just dripping with money.
	Gotta keep this economy running.
	I need another hit of my bailout money.
	Alright, now in front of me on this desk is lots and lots of bailout money.
	I brought this in because we've got two special guests coming up today.
	We have Gerald Salenti from Trends Journal and we have Peter Schiff from Europe-Pacific Capital.
	Back-to-back legends, giants in this space.
	And that's on top of us interviewing Gregory Manorino a couple days ago.
	This is amazing.
	So I brought this fiat currency here to show you.
	This is all bailout money, of course.
	And this is Zimbabwe dollars from the Reserve Bank.
	Oops, let me get it out there.
	The Reserve Bank of Zimbabwe.
	And as you can see, this is $1 million.
	Woo!
	You can be a millionaire.
	And then, of course, as things got worse, it became $50 million here.
	And then, what is this?
	$100 million.
	Sorry, I have to turn them around to read it.
	Looks like $200 million.
	And then, of course, more money printing, more bank bailouts, more inflation.
	Oh, $500 million.
	This is real currency, by the way.
	This is not fake money.
	Well, I mean, it's real fake money, we should say.
	It's fake.
	I mean, it's real fiat currency.
	Which is fake money.
	Okay, and then it became $1 billion.
	Oh, look, they changed the colors.
	It turned green.
	It's a billion dollars.
	You're a billionaire.
	And then after that, it became, oh, $5 billion.
	Woo!
	We're rolling in it now.
	$10 billion.
	Woo!
	And then all these other people.
	See all these other bills?
	Oh, here's the face of somebody who's also economically illiterate.
	Oh, here's another economically illiterate face of some former leader.
	All these people.
	It's 50 gazillion, whatever.
	All right, this one goes on.
	$10 billion.
	More money printing.
	Printing, printing, printing.
	$20 billion.
	Oh, got to bail out the banks, got to bail out the rich, bail out the banking cartels.
	$50 billion.
	Surely that would be enough.
	Surely.
	But no.
	It kept going until we get to this one, $10 trillion.
	A $10 trillion note that I bought for like a dollar, I think.
	I mean, I hardly paid anything for this real fake currency.
	This is a real currency that has all collapsed.
	And then, of course, I went out now and I got this stack of $100 bills.
	See?
	See all the hundreds right there?
	Oh, you're like...
	Must be a lot of money.
	Woo!
	Look at that.
	Woo!
	No.
	So you can buy these online too.
	This is a stack of fake $100 bills and I slipped a real $100 bill on top of the stack of fake $100.
	These are Hollywood bills.
	They even say like motion picture use or whatever.
	So fake Hollywood money there and then one real fake currency.
	$100 bill from the bank.
	Backed by the U.S. Treasury and then a bunch of others that are Hollywood fake money.
	Folks, it's all fake money.
	This is the point.
	It's all fake money.
	All of this has collapsed and this is in the process of collapsing right here.
	This is going to collapse.
	The question is...
	When exactly?
	How does it happen?
	And I think we have a pretty good picture.
	And that's the focus of today's show.
	So in addition to interviewing our amazing guests, again, Gerald Salenti from Trends Journal and Peter Schiff from Euro-Pacific Asset Management, I'm going to give you my best assessment of where this is going and what it's going to look like.
	Here's the big, big picture.
	Okay, number one, it's not going to fail all at once.
	It's not going to fail tomorrow, probably.
	It's going to take time.
	And during this time of failure, it's going to be massive money printing.
	So it's very clear from the actions we've seen so far from the Federal Reserve and also the Swiss National Bank, for example, and the actions involving Silicon Valley Bank and so on, That the governments of the world are going to print money, however much money is necessary, to bail out the banks.
	So the banks aren't going to, quote, fail right away.
	It's the money that's going to be failing, the money that's in the banks.
	And that's how you end up with $10 trillion here, right?
	Oh, here it is.
	That's how you end up with $10 trillion.
	The bank still had your trillions of Zimbabwe dollars.
	It's just that they were worth nothing.
	Or you had to have trillions to buy anything.
	Like maybe a trillion dollars bought a toaster or something.
	Maybe with a trillion dollars, maybe you could buy...
	Maybe you could make a mortgage payment or something.
	But the banks won't fail as quickly as the money will fail.
	Now, ultimately, the banks will fail as the money fails.
	But that day is going to be pushed out as far as possible.
	It may be years away before that happens.
	But between now and then...
	What this is going to look like is inflation galore.
	It's going to be your groceries costing twice as much, and then three times as much, and then four times as much.
	It's going to be the gasoline, $10 a gallon, and then $20 a gallon.
	It's going to be a hamburger at the local restaurant.
	It's a $25 hamburger, and then it's a $50 hamburger, and then it's a $100 burger.
	And then maybe at some point in Zimbabwe, maybe it was a billion-dollar burger.
	I'll take a hamburger.
	Oh, that's a billion dollars.
	Oh, good thing I'm a trillionaire.
	Now, how many hamburgers can you buy?
	That would be 10,000 hamburgers, actually.
	You could buy if a hamburger were a billion dollars.
	So the point is, this looks like how it's going to go down.
	And the people that are going to be totally royally screwed in this process are the people who keep their money in dollars.
	Or euros.
	Or yen, for that matter.
	Any kind of western currency or British pounds.
	It's going to lose value day after day, month after month, potentially year after year, until it's worth nothing.
	The dollar will collapse eventually.
	It may not collapse this week.
	Maybe not even this year.
	The dollar will collapse eventually.
	And between now and then, it's going to lose so much value that you will wish you had put your money somewhere else.
	And that's the emphasis of what we're talking about today.
	It's more a question of not simply protecting yourself from the banking collapse, but protecting yourself from the hyperinflation that has begun, or at least we're on the road to hyperinflation.
	So let me bring your attention to this Bloomberg article here from today.
	New Fed Bank Backstop has scope to inject as much as $2 trillion dollars.
	Two trillion dollars.
	And then it says, well, it's unlikely to be used by the largest banks.
	J.P. Morgan put out this analysis, by the way.
	And this story has been covered on Epoch Times and CNBC and others.
	And they've said that there's going to be essentially a two trillion dollar liquidity injection into the banking system.
	And then Janet Yellen comes out and says, everything's good.
	It's all good.
	Totally safe.
	After the two trillion.
	Because if they didn't do that, then the whole thing would collapse.
	But don't worry.
	Don't worry.
	Maybe they'll print one of these.
	That's $10 trillion.
	And then they'll have $10 trillion to inject in the banks.
	Whatever it takes, you see.
	So this $2 trillion is going to...
	I mean, this is step one.
	This is like chapter one.
	And it's going to cause inflation.
	It's going to ripple through kind of like free COVID stimulus money.
	It's going to ripple through the system.
	It's going to cause massive inflation.
	This year...
	So your dollars, if you have dollars in the bank, your dollars are going to lose value, purchasing value, this year dramatically.
	And then the $2 trillion that I mentioned here on Bloomberg, this $2 trillion, a few months down the road, it's going to become, oh, $4 trillion, or $6 trillion, or $10 trillion.
	It won't take long before this is $10 trillion.
	Yeah, I know.
	We're talking trillions.
	This is insane.
	You have any idea how much a trillion is?
	I mean, it's a thousand billion or a million million.
	That's what a trillion is.
	It's an insane amount of money.
	But this is what it looks like in the final blowout stage of the collapse of an empire and its fake fiat currency system.
	Trillions upon trillions, and then you're going to have Zimbabwe currency like this, or I've got Yugoslavian currency in here somewhere that's like, ah, 20 billion Yugoslavian dollars somewhere around here.
	I'm a multi-multi-billionaire just based on all this currency.
	It's incredible.
	Never have to work again as long as someone will just take these bills, which sadly no one will do.
	So the whole system is going to slowly erode to the point where the only people that have anything left are people who got out of the system.
	That's it.
	If you get out of the system and you get into something else that holds value, then you have a chance to financially survive this.
	If you stay in the system that is in dollars or dollar-denominated assets, bonds, bank accounts, CDs, treasuries, anything dollar-denominated will go to zero eventually.
	So, of course, the list of things to escape into is pretty short.
	And we've talked about them before, like gold and silver and land and so on.
	What about short-term investment instruments?
	I'm going to ask Peter Schiff this question today, in fact, because we have an issue at our company where we have a certain amount of capital that we have to use to purchase raw materials.
	Because of our food business, food and supplements and personal care products.
	So we're purchasing raw materials and we have to have that money set aside.
	You can't just blow it somewhere else because we need it, but we don't want to keep it in the banks because we don't trust the banks and we don't want to keep it in dollars because the dollars are losing value.
	So where do you put that money, even in the short term, to protect it from dollar erosion risk or even bank failure risk?
	Where do you put it?
	Can't be gold and silver in that case because I don't want to take possession of gold and then have to ship it back and then wire money back and forth.
	I want something that's near liquid but not in dollars.
	So we'll ask Peter Schiff that question today and see what he says.
	Maybe I'll get a chance to ask Gerald Salenti the same question.
	We'll see.
	But perhaps there are gold mining stocks.
	Perhaps there are, I don't know, tokenized gold systems or something that we're going to learn about today, and maybe that's a better option.
	I don't know.
	You do your research, okay?
	I'm not your financial advisor, just as a disclaimer.
	Obviously, I'm not your financial advisor.
	You and I don't have a financial relationship.
	Do your own research.
	Make your own decision.
	Do what's right for you.
	Understand your own risk.
	I'm just saying that the dollar is going, To zero eventually.
	Just like all these dollars did.
	There's nothing special about this paper versus this paper.
	It's all the same paper.
	Ah, yeah.
	Hey there, Rhodey.
	Oh man, he loves to come up here every time I pound the desk.
	What do you think about fiat currency, Rhodey?
	Here, you want to be a trillionaire?
	Yeah?
	You want to be a billionaire?
	Oh, he's doing downward dog yoga on my desk.
	Okay.
	So, Rhodey is now a trillionaire.
	He just sat on all the currency from all the countries.
	His dog balls are on the Yugoslavian billion dollar bill right now, actually.
	He is a dog ball billionaire from Yugoslavia.
	That's amazing.
	This guy just nailed it.
	Just amazing.
	In fact, I'm just going to keep him here while we do this whole segment.
	Why not?
	This stuff is garbage.
	This is total garbage.
	And even he knows it.
	Even he knows it.
	Look, you want to be a trillion?
	There you go.
	You happy about that?
	Good stuff.
	We all have to find an off-ramp to this, or we're going to end up with nothing.
	No purchasing power whatsoever.
	No money whatsoever.
	You'll end up with fiat currency dog-ball billionaire bills.
	That's it.
	That's all you're going to get.
	At the end of this, on the path that we're going.
	And there's no reason to believe that the US banking system or the regulators, the Treasury, the Fed, that they will make any rational decision.
	They will never hold a bank responsible for their bad decisions.
	They will never allow failure because they know the system is so fragile right now.
	Even Moody's downgraded the entire banking sector.
	The system is so fragile that one failure will cascade to all the other failures.
	And it'll bring the whole system down.
	That's how fragile it is.
	Think about it.
	They can't let one bank fail in America because the domino effect, the cascading collapse, would bring down the entire system.
	That's how fragile it is.
	Do you want your financial future tied up in a system so fragile that they can't allow anybody to fail?
	No.
	No, you want a system where bankers have an incentive to actually make good decisions and do research and be fiscally conservative instead of blowing all their money on bad ideas, dumb ideas, purchasing 10-year bonds at a 1% interest rate.
	Are you kidding me?
	Who's dumb enough to do that?
	Oh, Silicon Valley Bank is dumb enough to do that.
	And they got bailed out too.
	Bailing out the stupid, bailing out the woke idiots, this is indicative of our economy today.
	This is how our society works.
	They bail out the most woke idiots, the wokiest, most idiotic people that they can find, and then they say, everything's great.
	Don't worry, we'll just print more money.
	And they say, nobody has to pay for this.
	But then you go to the grocery store, Why is this food twice as much?
	Just wait six months, folks.
	This is going to go to triple.
	It's going to go to quadruple.
	You're going to pay, again, you're going to pay $50 a pound for hamburger if you eat hamburger.
	You eat hamburger?
	This is going to be $50 a pound, buddy.
	You ready for that?
	You're going to have to go to work.
	You're going to have to give this guy a job, man.
	You're going to have to earn your way.
	$50 a pound, hamburger.
	Dog food.
	Can you imagine how much dog food is going to cost at that point?
	It's going to be insane.
	You're going to have, oh, at the same time, people are losing their jobs all over the country, too.
	No, you've got massive unemployment.
	Hundreds of thousands of people losing their jobs right now, just in the tech sector.
	Not to mention, you know, real estate and travel and everything else.
	The job losses combined with the inflation...
	Combined with the lack of civility, the defunding of the police, on and on, this is going to lead to a collapse scenario in America.
	It's just a matter of when.
	Of how long it takes.
	That's the only question.
	Yeah, you want to relax?
	Go ahead, relax.
	Yeah, your work is coming.
	He's going to be out there going after the zombies at some point here.
	You better rest up while you can.
	Zombie day is coming.
	Look at this.
	Did you ever think you'd see this?
	Go to a little wider shot there, guys.
	Did you ever think you'd see this?
	Health Ranger...
	On a Brighttown.com set with a highly trained military dog sitting on a pile of trillions of dollars.
	Like, this is 2023, folks.
	This is really happening.
	And we didn't orchestrate it.
	This is just what's happening today.
	This is real.
	And you better...
	You know what?
	Give us the wider shot.
	Let me just zoom out a little bit.
	This is our studio.
	This is our wide shot here.
	Brighttown.com.
	Naturalnews.com.
	We're trying to teach people how to survive what's coming.
	And yeah, you know, we're plugging our products like here on the side from our store, healthrangerstore.com, if you want to help support us.
	If you can't afford these products, grow your own food, folks.
	Grow your own food.
	Yeah, I mean, we've got garden harvest, but you can grow a garden.
	I encourage you to grow your own food.
	You're going to have to go into survival mode.
	This is no joke.
	This is not a scripted show.
	This is me talking to you and saying, get ready for survival.
	Because what's about to happen to the currency, like this currency here, it's going to wipe out most people.
	Let's say 200 plus million Americans are going to be wiped out.
	They're going to be desperate.
	Many of them will be homeless.
	Even if they have their pension payments, the dollars that come in the pension check will be worthless.
	Some people get pensions that are pretty decent, $150,000 a year in California.
	What's that going to buy you three years from now?
	Not much.
	Not much.
	So yeah, you'll get your money, you'll get your bailout money, but it just won't be worth anything.
	That's where it's all going.
	And, you know, look, I can go through the headlines, you know, CNBC, oh, here we go.
	Wall Street rides to the rescue.
	Eleven banks pledged $30 billion in deposits.
	Why are they having to rescue another bank every single day?
	Every day, another bank.
	Why is it tens of billions of dollars or two trillion dollars?
	Why is this happening every day?
	Because the system is so fragile that if they don't print the money and bail with the money, the whole thing craters.
	You're on the verge of a systemic total collapse of the system.
	Did you know that, Rhodey?
	You know that?
	Did you have any idea?
	That's what I thought.
	The average American is more clueless than Rhodey.
	They have no idea what's going on.
	At least he is sitting on a pile of money.
	The average American is not sitting on anything of value.
	And they're going to be toast when this happens.
	Just complete toast.
	You know what?
	I don't know what else to add to this little monologue right here, except this is the danger time, the danger zone.
	You better get ready.
	You better get ready with backup communications.
	You better get ready with gold and silver.
	You better get ready with backup food.
	You better have a backup plan of how to get out of the banks, how to get out of town, how to get out of the cities.
	This is no joke where this is headed.
	And we're going to bring on our two guests today and have some back-to-back bombshell interviews for you here.
	But I don't even know how long we're going to be able to function as a business, frankly.
	I honestly don't know.
	Because if the transaction system fails, what do you do?
	If the banks fail, and eventually they will, then...
	What can you do?
	None of us can function.
	And then it's a collapse scenario.
	Oh, it's force majeure at that point.
	Force majeure.
	Every bank says, oh, you want your money out?
	Force majeure.
	Oh, you think you owned this certificate of deposit?
	Oh, force majeure.
	It's not yours anymore.
	Oh.
	Oh, the gold in the safe deposit box at the local bank.
	You think it's yours?
	Oh, force majeure.
	Yeah, it's a bail-in.
	Now it's ours.
	See, that's how it's going to go.
	Force majeure, Rhodey.
	That's what they're going to use.
	They're going to use that on all of us.
	Force majeure.
	I know.
	It's sickening, right?
	Look at it.
	It's rolling in the trillions of dollars yet again.
	All right.
	Well, and this guy's energetic, too.
	I mean, he's just being polite, let me tell you.
	In two seconds, he could be, like, up and running.
	He's not an old dog.
	He's young.
	In two seconds, he could be up and running and just going crazy, fetching a stick or jumping in a pond or jumping on an intruder or whatever.
	You name it, man.
	In two seconds, he goes from zero to 100 in two seconds.
	So he's being cool, which I'm grateful for that.
	Good job, Rhodey.
	You want to say goodbye and we're going to go to break?
	Hey, Rhodey.
	Say something, Rhodey.
	Rhodey.
	You want to bark?
	You want to bark?
	What do you think about the big bankers?
	Rhodey.
	What do you think about the bankers?
	Yeah, they suck.
	They totally suck.
	Yeah.
	What do you think about the money printers?
	Bark, Rhodey.
	Bark, Rhodey.
	The money printers.
	Yes.
	What about the money printers?
	Yeah.
	You get them.
	Roll your ass in those bills.
	It's worthless.
	Trillions.
	Worthless.
	Yeah.
	Good job.
	Good job, boy.
	Good job.
	Urinate on the money.
	Yeah.
	Because the whole country is pissing it away anyway.
	All right.
	Thanks for watching, folks.
	Interviews coming up next with Gerald Salenti and Peter Schiff.
	Woo!
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	Welcome, everyone, to this BrightTown.com special interview with our guest, Gerald Salenti of Trends Journal.
	You know Gerald.
	He's been all over talking about this for many, many years, about exactly what we're seeing now, sounding the alarm.
	Some people ignored him, but the wise paid attention, and they are well-situated.
	I think Gerald Salenti is the coolest cat in the Northeast, and he's not afraid to tell it like it is.
	So, Mr.
	Salenti, welcome to the show.
	Great to have you on.
	Well, thank you.
	Thanks for having me on.
	And thank you for all that you do.
	I've been watching you for years.
	I really admire the work you put out and the knowledge and information that you've been giving people.
	So I'm honored to be on with you.
	Thank you.
	No, the honor's all mine.
	Look, I've been listening to you for way longer than you've heard some of my shows.
	I just got to say...
	You saw this coming so long ago.
	I mean, you know, even from the 2008 subprime collapse, you even said after that they didn't fix the problems.
	This is going to come back.
	And now here we are.
	So our audience is pretty sophisticated, so we don't have to go to the very basics.
	But give us your take on where we are now, where I think the Fed is talking about, or JP Morgan analysts are talking about maybe a $2 trillion injection of liquidity into the banking system.
	Failures are happening left and right.
	Where are we right now, in your view?
	We are on the cusp of the worst geopolitical and socioeconomic crisis in modern history.
	Tracking trends is the understanding of where we are and how we got here to see where we're going.
	So when you look at where we are, look how we got here.
	You mentioned that, you know, I had believed when the panic of 08 hit, and by the way, I took that domain name out in 2007, that it was going to be another big crash in 2012.
	I was wrong.
	They didn't teach me about negative and zero interest rate policy or quantitative easing in Economics 101 or graduate school.
	They made up this crap.
	So then they artificially inflated the economy.
	You had negative interest rates in the EU for what?
	Eight, nine years?
	Negative interest rates?
	Negative interest rates in Japan?
	Zero interest rate policy when they began the COVID war?
	They artificially propped this economy up.
	And by artificially propping it up to fight the COVID war, they pumped in countless trillions of dollars, not only in America, all over the world.
	And their phony money so the money junkies could get their monetary methadone at a very cheap price, they kept interest rates really low.
	So they could keep artificially propping up the markets.
	What happened with the Silicon Valley Bank is just the beginning.
	Absolutely.
	Well, exactly to what you say, all this cheap money or almost free money didn't create strength in the system.
	It created weakness.
	And now to cover up the weakness, they have to keep printing more money.
	What do you make of the fact that the FDIC says there's only a $650 billion shortfall in bank assets versus deposits, but an independent study said it's a $2 trillion shortfall.
	But yeah, go ahead.
	No, no.
	It's a lot of BS. And again, they're bailing out the rich.
	Right.
	You know, you're just a piece of crap.
	You lose your job and you can't pay your mortgage.
	You have no place to live.
	You're nobody.
	You're nobody.
	Hey, but my buddies at SVB, hey, they lost a lot of money.
	We got to give them their money.
	Hey, man, you made a bad bet.
	You put your money in a gambler's casino and they lost.
	So what they're doing and bailing out, and not only here, they're doing it with Credit Suisse as well.
	Right.
	They're bailing them out.
	This is a lot of crap.
	Here, this is a cover of the Trends Journal magazine back in 2012.
	Nothing has changed.
	That's right.
	Nothing has changed.
	Who the hell?
	Hey, I'm Jamie Dimon.
	Don't you know who I am?
	I'm some arrogant piece of s***.
	My bank needs money.
	We're JPMorgan Chase.
	Oh yeah, yeah, we'll bail you out.
	Don't worry about it.
	You only make $35 billion a year.
	How they bailed everybody out during the banking crisis when the panic of 08 hit.
	How dare they bail these banks out?
	How dare they?
	Hey, I'll tell you why.
	Because this is the picture that's The same thing that happened when Jesus drove the money changers out of the temple.
	Three days later, man, he's on the cross.
	You don't mess with the banksters.
	Anybody with a brain bigger than a pea could see the deal.
	Who's the clown that's our fed head?
	Janet Yellen, as we say in Italian, is faccia brut.
	Oh, where did she come from?
	Oh, she was the former Fed head?
	Wait a minute.
	You're telling me the former Fed head is now our Treasury Secretary?
	Yeah, that's right, Salenti.
	Get it in your head.
	The banksters are in charge.
	You are just a piece of crap like the rest of the plantation workers of Slavelandia.
	We are only interested in the rich and only interested in the banks.
	But it's also, you're exactly right, and it's insulting when they say that, oh, we're not going to bail out these banks, but here's a bailout, and it's a bailout that nobody has to pay for.
	It's so insulting, like we're kindergartners, like they can trick us with pulling a rabbit out of the hat or something.
	Oh, where'd the rabbit come from?
	No.
	No, they're printing the money.
	And because they're printing the money...
	Look, I brought this today.
	Go to camera one, guys.
	Look, this is Zimbabwe currency.
	Here it is, a million dollars.
	And it goes on and on.
	And then it's a billion.
	And then it's five billion.
	And then 20 billion.
	And then the last bill I have here, Gerald...
	One trillion dollars.
	And even that wasn't enough.
	They're putting us on the same path.
	I mean, this is going to be Zimbabwe money in no time.
	Yep.
	I'll tell you when the time is going to come.
	Send $29.95.
	I'm only kidding.
	It's these two commercials.
	When they lower interest rates.
	The only reason the dollar is strong is because interest rates are up.
	End of story.
	Period.
	Paragraph.
	You got all this debt, $31.7 trillion of debt, plus, plus, plus when you put the real numbers in, it's like $220 trillion, when the dollar's going to crash.
	And then you have all these brick nations, they had enough of the United States military and economic hegemony.
	They've had enough.
	Matter of fact, they talk about Zimbabwe.
	The news was this week, they're even getting off the dollar.
	And look what just happened last year in 2022.
	Not ancient history.
	This is only March.
	So let's go back only a couple of months.
	The central banks had a record year of buying up gold.
	They know how bad this thing is going to get.
	So the dollar is going to crash when they start lowering interest rates, which they're going to start doing this year by the end of possibly before the end of the year.
	But definitely, definitely in 2024.
	They do it all the time.
	This is not brain surgery.
	This is very simple.
	Every time before the presidential election, they lower interest rates to keep the clown in charge in charge.
	And again, look who our Treasury secretary is.
	Exactly.
	But in the meantime, so they say they're going to raise for a little while until they do exactly what you said, which is they'll start sharply dropping raise.
	But as they keep raising rates, aren't they causing more unrealized losses in the assets of the banks that are supposed to hold depositors' money?
	Oh, yeah.
	If it's $2 trillion short now, it'll be $4 trillion by the summer.
	Here is what no one's talking about.
	We've been writing about this for over...
	For three years.
	We began writing about it in March of 2020.
	Office building bust.
	Yeah.
	Let's go back to SVB, Silicon Valley Bank, right?
	Con.
	They're con artists.
	First, that's number one.
	Artificial intelligence, artificial flavors, you know, artificial...
	Save it, man.
	Don't want artificial music.
	They're con artists.
	So let's go back to the Silicon Valley bust...
	What happened with the bank.
	No one's talking about this.
	And talking about not having the money there and office building bust.
	The bank busted because when they launched the COVID war, the first people to lock down, that little freaky cat with the beard, that Twitter guy, Dorsey.
	We write about this in detail in the Trends Journal as it's happening.
	The In February of 2020, he was supposed to take a trip to South Africa.
	He canceled it, told everybody to stay home.
	And then one company after another, the tech geeks, the little freaks, Microsoft, Facebook, Google.
	One after another closed down, locked down, locked down, locked down.
	Go home, go home, work from home, work from home.
	I'm going back to Silicon Valley Bank and the bust that's coming.
	And remember, commercial office building bust.
	So now what happens, everybody's working from home.
	You've got to stay home.
	You've got all these little arrogant clowns called politicians telling you to stay home.
	Their business is booming.
	People are zooming to work.
	They're zooming learning.
	Their schools are closed down.
	They're buying stuff online.
	The thing is booming.
	It's booming.
	The stocks skyrocket.
	Let's go back to Silicon Valley Bank.
	All those phony IPOs, all those SPACs that they were backing, Yeah, when the COVID war ended, let's go back about two months ago, the NASDAQ was down, what, 33% from its high?
	So now you saw the Silicon Valley Bank bust because that's one of the big reasons.
	And then, of course, the other one is, as interest rates go up, all those treasuries they had are worth nothing.
	Now let's go to the office building bust.
	What's your office occupancy rate around the country?
	Well, according to Castle, with a K, it's 50.4%.
	In New York City, it's like 47%.
	That's unreal.
	Right now, again, we were writing about this before it happened in 2019.
	You go to New York City back then, and I'm a New York City guy, east side, west side, all around the town, for rent, for lease, for rent, for rent, for rent.
	This is before the COVID war that's launched in 2020.
	Everything was overbuilt.
	Everything was overbuilt.
	Now the COVID war, now you have 50%, let's say, occupancy rate in America, the 10 largest cities.
	Now, my lease is up.
	Do I want 12 floors?
	No, I'll only take two.
	Because people are coming in only two and three days a week.
	Fridays are dead.
	Fridays are dead.
	Friday, man, used to be party time.
	Woo!
	Out of work.
	Let's go, you know, have some fun.
	No more.
	Happy hours?
	Gone.
	So not only the office buildings where they're losing the tenants, but all the people, all the businesses that depended on commuters.
	Now let's go back to the office building.
	Who are they owned by?
	The bigs.
	The bigs own it all.
	They can't pay their bills because they have a different kind of variable rate loan that goes way up, way up as interest rates go up.
	Now as interest rates have gone up, they're losing tenants.
	occupancy rate is in the toilet, you are going to see an off.
	You are going to see a banking bust.
	So when you asked about the two trillion dollars, no one is talking about this.
	Keep the building, man.
	I don't have the money to pay it.
	Right.
	So this this is.
	Wow.
	I'm really glad you brought that up because the collision of what you just described, the commercial real estate bust combined with continued rising interest rates for a while, combined with the dissolving value of the low yield bonds and mortgage backed securities that the banks hold this is worse than, this is like a party of black swan suicide kamikaze swans with explosive vests.
	Thank you.
	Our listeners, your website, though, before we go on, folks, it's trendsjournal.com.
	This is where you want to go.
	I'll ask Gerald here to describe it for you, what else you find there.
	But not only do you have the articles and the videos, and, of course, Gerald Salenti does a lot of interviews.
	Here he is with Judge Napolitano right there.
	But you can subscribe.
	You can get tomorrow's trends today at trendsjournal.com.
	And Gerald Salenti has been right again and again and again.
	All right, so the website's TrendsJournal.com.
	Gerald, what else can people get as a subscriber to your service?
	Well, what they do is we're the only magazine in the world, and I'm not saying this, if anybody could show me, please let me see it, that provides in-depth socioeconomic and geopolitical trends analysis and trend forecasts.
	And we're the only ones that do it.
	You can't find it anyplace else.
	So we tell you what's going on, what's next, and what it means, and what you might want to do.
	There are no advertisers in the magazine.
	This week's magazine is about over 170 pages.
	No ads.
	No ads.
	I've never worked harder in my life.
	Never, never, never, never.
	And we're doing everything we can to help the people prepare, prevail, and prosper in these dangerous times ahead.
	And again, you ready?
	The grand total of $2.86 a week.
	Nothing.
	Yeah, that's nothing.
	Nothing.
	So we're doing it as the, you know, I say to people, put your money where your heart and mind and soul are.
	And that's what we're doing.
	I've never worked harder.
	We're doing everything we can to give everybody the best that we can.
	Because these are the most, again, you know, I'm not a kid.
	You know, I'm 76 years old.
	I'm a Napolitano born in the Bronx, right after World War II, right at the height of free times and free be who you want to be.
	I've been around.
	I was the assistant to the secretary of the New York State Senate at 26 years old.
	I ran major political campaigns in Westchester County, the richest county in America back in the day.
	I was a chief government affairs officer for the chemical industry back in the 70s, killing environmental legislation at the height of the environmental movement, because all I wanted to do was make money and have a good time.
	Didn't start growing up until I was around 32 years old, putting my meetings on at the Hay Adams and staying at the Willard Hotel.
	I have pictures of me when I picked up Ronald Reagan in 1976, two days before he's announcing he's running against Jerry Ford and put on a brunch with 16 of our board of directors.
	I've been with presidents, prime ministers, and princes.
	I know the deal.
	I wouldn't know it if I wasn't on the other side.
	And what I'm telling everybody, we are in the worst crisis in modern history.
	What they did with the COVID war...
	And locking down humanity was beyond what anyone could have imagined if you did a science fiction movie.
	And to prove, to prove the political science of the crap that they did, what was the first thing that people did when they filled them with fear and hysteria?
	They went out to the supermarket and bought toilet paper.
	You can't make that crap up.
	What I'm telling people, what they just did with that is an example.
	Of what's coming next, it's going to be a lot worse.
	If we don't stop it.
	If we don't stop it.
	How does this end?
	Because, I mean, number one, it's clear they're going to print whatever money that they think is necessary to keep propping up the banks.
	So dare we say hyperinflation?
	Where does the system break knowing how they're going to try to bail everything out?
	It's tough to call when the break is going to happen.
	But as I said, when they raise interest rates, game's over.
	Excuse me, lower them.
	When they lower interest rates, game's over.
	Game's over.
	Gold is going to skyrocket.
	A dollar is going to crash.
	And inflation is going to keep going.
	We call it dragflation.
	You're not allowed to say drag anymore.
	You're not allowed to say drag anymore.
	Take it easy.
	You can say it here.
	You can say anything you want here.
	I'm kidding.
	We're changing the name of the Trans Journal.
	It's going to be the Trans Journal.
	Trans Journal.
	You've got to put a little rainbow flag icon on the top corner.
	Is that it?
	And bend over and get the Trans Journal.
	Anyway, what do we say?
	What were we talking about?
	You lost my train of thought.
	Well, no, but actually, we were talking about how it all ends.
	Not necessarily when it ends, but how it ends.
	Oh, so how it's going to end, again, is they're going to...
	Oh, dragflation.
	It's not stagflation.
	The economy is going to drag down, and inflation is going to go up.
	Take a trip to Argentina.
	They've been raising interest rates, raising interest rates.
	You know what their inflation rate is now?
	Over 100%.
	Yep.
	Yeah.
	Yeah, that's crazy.
	And again, I put all this failed fiat currency on my desk here today for you, Gerald, for this interview, because I've been collecting some of this, you know, Yugoslavia and Bolivia, Argentina, Chile, and whatever.
	All these nations.
	But again, this is my favorite, is Zimbabwe.
	Gerald, I'm a trillionaire.
	I'm a trillionaire right now.
	Look at that.
	Didn't know it was going to be this easy.
	Elon Musk, eat your heart out.
	But isn't this the history of...
	I mean, this is us now.
	This is exactly where it's going.
	This is the climb of humanity in front of our minds.
	It's the beginning of the end.
	You know, if we don't have a renaissance, it's over.
	You know, the renaissance happened, by the way, right after the Black Plague.
	The people got hip to the scene.
	We're killing ourselves with all the filth and crap and stupidity.
	So what they used to say in Italy was, in the manner of the Romans and the ancients to describe the quality of their work and what they were producing.
	They went back to when it was great.
	And that's what has to, we need a renaissance.
	Look at the crap that people eat.
	Look what the country looks like.
	I go out, you know, I go to nice restaurants, And yeah, I got guys my age wearing baseball caps and people younger wearing baseball caps on backwards.
	What are you going to put a catcher's mitt on next?
	I mean, look what the people look like.
	You know, I just did this, by the way.
	I showed a bunch of my friends, you know, because they had a bank run now, of course, you know, the Silicon Valley Bank.
	So I went to Google and I put bank run 1933.
	And then I looked at the images.
	You should see the way the cats are dressed in 1933.
	Oh, yeah, sharp.
	Looking sharp, looking sharp.
	And now they're wearing dungarees.
	No, they're not dungarees.
	They're blue jeans.
	Yeah.
	Oh, and the women look really hot in those overalls, man.
	Woof!
	Really, yeah.
	I grew up in a time of miniskirts, man.
	Now you need maxi skirts.
	I don't know if they can make them big enough.
	You know, look how low the country's gone down.
	Look, as I said, you know, they got it wrong in the King James Bible.
	They said the meek shall inherit the earth.
	The geeks have inherited the earth.
	They spelt it wrong.
	Look at the crap that they look like.
	I wouldn't want to look like a Zuckerberg.
	You can keep your money, Jack.
	Don't want it.
	You two gates.
	Yeah, close the gate on you.
	Don't want to be near a cat like you.
	They suck the joy out of life.
	Everything artificial.
	I grew up at a time, man, of, you know, rhythm and blues, Motown, really hot music, people playing.
	You don't have to play with your heart.
	We could synthesize it.
	We're dead little freaky geeks.
	Not an ounce of boogie, not a drop of jive.
	Oh, you don't have to think anymore.
	We have artificial intelligence.
	That's where the whole country's gone.
	If we don't change this and come back to humanity, It's finished.
	And see, you respect history.
	And I know, I don't know if our audience knows, but when interest rates were almost zero, you actually purchased an historical building in New York.
	Wasn't it a post office previously?
	Or what's the story on that?
	I own three of the most...
	Historic buildings in America.
	I'm in Kingston, New York.
	Kingston was the first capital of New York State, the third Dutch settlement.
	It was burnt down by the British, by the way.
	It was the first capital.
	The Constitution that was written for Kingston when it was the capital, over 70% of America's Constitution comes from here.
	Wow.
	Right across the street, I could throw a rock and hit it where the courthouse is.
	John Jay, yeah, he was a judge over here.
	I was looking to leave the country back in 2010, so I fed up with the crap.
	I'm making a very long story short.
	I'm in Berlin.
	We were opening the magazine.
	And Berlin was grander than Paris before it was bombed out.
	And I spent a lot of time in Paris.
	I used to date Marie-Pierre.
	And as a matter of fact, Marie-Pierre's brother, Francois, was the left shoulder of Jacques Chirac and Mitterrand, the presidents of France.
	And my close combat teacher used to go there and work out with the guys at Palace of Elysees and show these guys what we were doing.
	Yeah.
	So anyway...
	I'm in Berlin and I'm saying to myself, why didn't the people stop this before it was all destroyed?
	It was grander than Paris before it was bombed out.
	I came back and there was a Franz Roggen house was to sail.
	It went up when I was away.
	And I bought it.
	And I bought the two other buildings, the 1763 Dr.
	Jensen House and the 1774 Academy, which was one of the first public schools in America.
	I bought these three buildings when no one wanted them.
	I bought them because they represent what this country was founded upon.
	I realized I can't run away.
	I'm only me because I'm a guy, you know, a monopolist born in the Bronx.
	If I was born in Vigaquenz, I wouldn't be me.
	I'm me because I'm an American.
	Love it or leave it.
	No, you leave it.
	You leave it.
	I bought those buildings and launched Occupy Peace from those buildings.
	I had a big rally here this past summer over here.
	I had Judge Napolitano, Scott Ritter, Gary Knoll, Phil Giraldi, the hot damn band that Aaron Neville's wife put together.
	You know, I fought those because they represent the freedom of America that I'm fighting for with my heart and my soul until I die.
	Amen.
	And A-women.
	You've got to get those A-women in there.
	We're with you, Gerald.
	And I've got to say, in wrapping up this interview here, you are welcome here anytime.
	You have events like that.
	Let us help you get the word out.
	Thank you.
	Anything that you have going on, any warning you want to get out, get it to my producers.
	We can get you on, even if it's just something you want to say for five minutes, we'll get you on the show.
	Trendsjournal.com is the website, folks.
	You've got to get in tune with what Gerald's saying because he's nailing it.
	If you want to know what's going to happen, you need to know the trends.
	So you need to read Trends Journal.
	Any final thoughts before we wrap this up today, Mr.
	Salanti?
	Yes, yes.
	Everybody do the best you can to get in the best shape you can, physically, emotionally, and spiritually, and do something positive every day for somebody else.
	We're in the fight for our lives.
	I'm heartbroken to see where this is going.
	I'm a trend forecaster.
	I look ahead.
	If we don't reverse this, we're finished.
	It does not take a majority to prevail, but rather an irate, tireless minority keen on setting brush fires of freedom in the minds of men, said Samuel Adams.
	And we are that irate, tireless minority.
	And united we stand, divided we die.
	So do everything you can to fight for life, liberty and the pursuit of happiness.
	The future's in your hands.
	Don't drop it.
	These little clowns that are running the show, knock them out like that.
	You take them out like that in a very peaceful way, and we need to go in a new direction.
	So do everything you can.
	You've got to be in the best shape physically, emotionally, and spiritually to win the fight.
	Right there with you.
	100%.
	That's why I teach nutrition as well.
	I train in Brazilian Jiu-Jitsu, even right now, by the way.
	I know you did martial arts for a very long time.
	I'm right there with you.
	Physical, spiritual, emotional health, and preserve your assets, folks.
	Gerald, you're welcome back anytime.
	Thank you so much for joining us today.
	This has been a really intriguing conversation.
	God bless you.
	Thank you, and thank you for all that you do.
	Absolutely.
	I'm thrilled to be on the same team as you, let me tell you, team humanity.
	So thank you all for watching.
	Again, the website is trendsjournal.com, just like it sounds, easy to spell, and subscribe there.
	You will get the best education of your life, videos, articles, trends analysis.
	Much more.
	And we'll invite Gerald back on, although he's a super busy cat right now with what's going on in the world.
	But we'll invite him back on.
	And thank you all for watching.
	Mike Adams here, the founder of Brighteon.com, the free speech video platform that we built so that we can have uncensored conversations just like this.
	Feel free to repost this interview on any channel you want.
	Just give credit to Gerald Salenti at TrendsJournal.com.
	God bless you all.
	Thanks for watching.
	All right, today's interview is brought to you by Treasure Island Coins and Precious Metals Company.
	That's our sponsor in the gold and silver space, and I've worked with them for several years.
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	So metalswithmike.com, that's the Treasure Island Coins and Precious Metals Company.
	Do your own research, though.
	Don't take this as financial advice.
	I'm not your financial advisor.
	However...
	If you look at fake fiat currency here, If you follow financial advisors that are mainstream, you will end up being a trillionaire in broken fiat currency like this $10 trillion note from Zimbabwe.
	Yes!
	Wouldn't that be great to be a trillionaire in collapsed currency?
	This is all collapsed currency.
	If you don't want collapsed currency, consider gold and silver from Treasure Island.
	Again, metalswithmike.com, and thank you for supporting our sponsors.
	Take care.
	Alright, welcome folks to today's interview on Brighteon.com.
	I'm Mike Adams, the founder of Brighteon, as you well know, the free speech platform.
	And of course, a lot of free speech could have saved us from a lot of human suffering and financial loss as the banking system is now falling apart.
	In fact, if people like our guest, Peter Schiff, had been listened to, then a lot fewer people would be suffering financially right now.
	That's the absolute truth.
	So we're joined today by a very special man.
	Peter Schiff is his name.
	You know him.
	I know him.
	I follow his work.
	He's brilliant.
	He's ahead of his time.
	He joins us today.
	Thank you, Mr.
	Schiff, for your time.
	Welcome to the show.
	Thank you, Mike.
	That's a hell of an introduction.
	Well, you're a hell of a guy.
	I mean, let's be honest.
	You've been nailing it again and again.
	People like to say that you're a doom and gloomer, or I guess at one time even Dr.
	Doom.
	I thought that was somebody else the whole time.
	But you've been Dr.
	Correct, actually.
	So where do you think we are?
	Well, you know, when they first labeled me with the moniker of Dr.
	Doom, that was in the days when I was still welcome at CNBC back in 2005 and 6 and 7 when I was warning about the financial crisis.
	And they all kind of laughingly referred to me as Dr.
	Doom.
	Right.
	And I kept saying, no, I'm Dr.
	Reality.
	I can't help it if the reality is doomed.
	That's just what we're headed for.
	And, of course, I was proven right.
	But what's going to happen now, what's beginning in 2023, is going to be much worse.
	I mean, this is a much deeper financial crisis.
	But instead of a financial crisis, the Fed might trade it for a currency crisis and then a sovereign debt crisis.
	Because they are going to just blow up the money printing during this downturn.
	They've already started it.
	I mean, they basically returned the QE without admitting it.
	Yeah, yeah, exactly.
	Well, and we saw headlines today.
	I think JP Morgan analysts were saying that the Fed may inject $2 trillion in liquidity into the banking system.
	And then Yellen comes out and says everything's fine.
	Well, if everything's fine, why do you need $2 trillion, huh?
	Yeah, nothing is fine.
	And Janet Yellen should know because she's partially responsible for this mess.
	I mean, she's not totally responsible, but she's certainly one of the people who is, you know, who bears responsibility here.
	She was the chairman of the Fed and she was active at the Fed.
	She was at the San Francisco Fed while the housing bubble was inflating.
	You know, that California was, you know, one of the biggest parts of the bubble.
	And she was there at the San Francisco Fed, telling people not to worry about the housing market, that the people who thought it was a bubble were wrong.
	And she even said that if housing prices went down, it wouldn't even hurt the economy, because it was just so strong.
	It didn't matter if housing prices went down.
	Well, yeah, it's going to be fascinating to watch, especially in retrospect, the words of these people.
	But, Peter, I brought a collection of failed fiat currency and put it on my desk today for this interview.
	And I want to tell you, here is $1 million.
	This is Zimbabwe.
	And then it goes to $50 million.
	Let's see if I can get this on camera.
	And it goes on and on into billions.
	Here's $2 billion.
	Wait, 500 million...
	That's into trillions, I think.
	No, that's...
	Peter, I'm a trillionaire.
	I have 10 trillion Zimbabwe dollars right here.
	Done.
	How amazing is that?
	You know, at one point, I forget what year it was, maybe the 1970s or so, one Zimbabwe dollar and one U.S. dollar were at parity.
	So that just shows you...
	What could happen?
	You know, you have a whole graveyard of dead fiat currencies.
	They've all died.
	I mean, none of them survived.
	And I don't think the current crop will be any exception.
	The only question is, you know, how much longer do they have?
	You know, what's their lifespan?
	Well, let me ask you that, but you're right.
	I also brought a stack of $100 bills here.
	I don't know if you can see, but there's my stack of hundreds.
	Actually, these are mostly Hollywood hundreds.
	Only the top one is, quote, real, and even that one, I think, not even real by itself.
	So that's supposed to be $10,000.
	It's a joke at this point.
	What's this going to look like?
	I mean, are we going to expect prices to double in the next year or 18 months or, you know, in a practical level?
	What do you think?
	Well, you know, first of all, before I even answer that, I'm kind of jealous of your backdrop there.
	I've got to step up my game.
	Oh, man.
	Look at that.
	You've got some really nice stuff going on in that studio.
	Well, no, thank you.
	Look, I've got to give credit to the folks over at InfoWars.
	You know, I fill in for Alex Jones sometimes.
	They told me about the VJ software that drives this wall.
	So we use, instead of DJ software, it's VJ software.
	But I've got to get the wall, too.
	I've got to spring for that.
	Well, it's all doable.
	Yeah, there you go.
	Wide shot.
	Yeah, we have all these screens here.
	We barely know how to use them.
	I know.
	I just built this big studio here at my house, but I haven't furnished it yet.
	I have just the old stuff that I have.
	I've got to see about getting some of that stuff.
	I like that whole setup you've got there.
	Well, look, hey, InfoWars helped us.
	We're happy to pass it along to you.
	If you want to know what software and systems we use, I'm happy to share it with you.
	But, you know, aside from the razzmatazz here, you know, the content of what you're saying is so critical right now.
	And you've been the one voice in the wilderness, well, maybe not the only one, but one of a few that has...
	The establishment loves to make fun of you and say, oh, it's never going to happen.
	And here it is.
	It's happening.
	So the debate's over.
	What was the question you asked me?
	I complimented your studio there.
	I forgot to answer your question.
	In fact, I don't even remember what it was.
	Well, the question was, when are we going to be paying double for groceries compared to today, roughly?
	Oh, I mean, soon, I think.
	I mean, we're already paying double for a lot of the things at the grocery store.
	You look at certain prices and they've gone way up.
	But this latest round of bank bailouts...
	Is going to cause tremendous inflation, because where is the Federal Reserve getting the money to bail out all these banks?
	You know, President O'Biden made it a—not O'Biden, President Biden.
	No, I think that's accurate.
	O'Biden.
	President Biden made a big deal about reassuring the public that, you know, the taxpayers aren't going to have to pay for this.
	Well, technically, I guess it's not taxes that are going up in the traditional sense.
	It's inflation that's going to go up.
	These bank bailouts aren't free, and they're not going to be paid for by the banks themselves.
	They're getting the bailouts.
	They're not going to pay for it.
	You know, it's the American public that's going to pay for it.
	But the way they're going to pay for it is through inflation, because the Federal Reserve is going to have to create out of thin air trillions of new dollars and add it to the money supply.
	Yep.
	It's going to give the dollars to the banks and the banks are going to give the Fed their treasuries and their mortgage backed securities, except they're going to give the Fed maybe 60 or 70 cents worth of.
	Treasuries and mortgage backed securities and they're going to get a dollar.
	Right.
	They're not going to get the market value for those securities, which is what we would get if any if you or I were dumb enough to buy U.S. Treasuries, you know, 20, 30 year Treasuries a year or two ago when they were yielding one percent.
	If we were dumb enough to buy them and then we wanted to sell them, you know, we could only get maybe 70 cents on the dollar or 60 cents on the dollar.
	But the banks that were dumb enough to buy them, they could get 100 cents on the dollar from the Fed.
	But the Fed doesn't have any money.
	Yeah, and the Fed doesn't have any money.
	It's losing money itself.
	The Fed is getting bailed out by the Treasury because the Fed doesn't have any money.
	But then again, neither does the Treasury.
	So the Federal Reserve has to print money to give it to the Treasury to bail itself out.
	But all of this means that the dollars that we all hold, I mean, I don't hold them because I get rid of them as fast as I get them, but the average American has got dollars and those dollars are going to buy a lot less as a result of these bank bailouts.
	So when Biden or anybody in the government or in the media says, oh, the government acted prudently, we've saved the day, we've reassured that your bank account is safe, nobody's bank account is safe.
	You know, when the government tells you that your bank account is safe, it's because it's not.
	And the reason it's not safe, it's not because the banks are going to fail.
	The government has already said, we're not going to let them fail.
	Now, that's a mistake.
	They should let insolvent banks fail.
	That's how capitalism works.
	But, you know, we don't have that anymore.
	We have socialism.
	And so the insolvent banks won't fail.
	They're going to be propped up with inflation.
	But what that means is every single bank account in the country, even the people who are banking with solvent banks, Their accounts are going to lose tremendous value because the money in their accounts is going to lose its purchasing power through inflation.
	So no bank account is safe.
	Everybody with a bank account is going to experience substantial loss of purchasing power.
	And so the smart thing to do is to withdraw your money from the bank.
	I mean, your savings.
	I mean, you've got to keep short-term there to pay your bills.
	But money that you don't need for a year or two or five years, whatever, don't leave it at a bank because you're guaranteed to lose because prices are going to go way up.
	So you should pull your money out of the bank and do something else.
	Buy gold, buy silver.
	That's a better savings vehicle than fiat currencies.
	Or invest.
	You know, get into stocks.
	I buy foreign dividend-paying stocks for my clients, value stocks.
	Some people buy real estate, but what you can't own is dollars or a bank account because you're going to lose.
	Right there.
	Right there with you on that, 100%.
	In fact, let me bring in the company that you have, EuroPacific Asset Management.
	The website is europac.com.
	That's P-A-C. Europac or EuroPacific Asset Management.
	Now, let me pose an actual practical question to you, Peter.
	My own company, we The Health Ranger store, we do, you know, foods and so on.
	And, you know, we buy and sell millions of dollars worth of food every year and supplements and so on.
	We have, obviously, operating capital in the bank.
	And this question is going to apply to a lot of our listeners.
	And so we have operating capital in the bank.
	We don't want it in the bank, but we need it near liquid.
	So we don't necessarily want to take possession of gold and silver where you have to send it back and sell it back.
	We know we're going to need to spend a million dollars Per quarter on raw materials.
	How can your company help a company like us be out of the banking system in near liquid assets where we don't have to take physical possession?
	Well, you know, my company, the one you're, you know, we're talking about your specific asset management, that we're not here to help you manage your cash flow or pay your bills.
	So to the extent that you have money that needs to be liquid to buy Or pay for goods and services.
	There, you need to leave it in a bank or some type of institution.
	But we don't trust the bank.
	Well, the banks are all going to be bailed out.
	So what you can't trust is the money in the bank.
	That's the problem.
	So the money that you're going to use for short-term purposes, I mean, even if it loses value, it's not going to lose that much because it's not there that long.
	You're spending it.
	What I'm talking about is the money you don't need day to day.
	If you have money in your business that you don't need, that you just want to keep it for a rainy day, but you're probably not going to have to tap into it, that's the kind of money that you want to send to me to manage.
	Because there I can put it in assets that will beat inflation.
	So as the dollar is losing value, your account with me is gaining value.
	So now you'll have more dollars in the future.
	But you don't want to send me the money that you need for next month's rent.
	Leave that in the bank.
	Now, eventually, I think the world will move away from fiat currencies, and I think a lot of people will start transacting in gold again through the internet, through the blockchain, or private companies will tokenize gold, and then you'll be able to transact in gold.
	You'll be able to use gold We're good to go.
	You're only losing 1% a month.
	So if you're turning your account over every month, it's 1%.
	It's not the end of the world.
	But when you start losing 10% a month, when you have 120% inflation, now you've got to worry about the money you leave in the bank overnight.
	So that's when I think people will start turning to alternatives.
	Like tokenized gold so that they can transact in that.
	Now, I know there's some people out there that think, no, they're going to use Bitcoin.
	That ain't going to happen.
	You know, they're not going to use Bitcoin, but they could easily use digital gold or digital tokens that are backed by real gold.
	Yeah, well, yeah, I have questions for you about that.
	But first about your asset management company, just on behalf of our audiences, what's the minimum amount of money that someone needs to start with you on that?
	Well, first of all, We have five mutual funds that I manage and you can buy those funds.
	I think our minimum is twenty five hundred dollars and most large discount brokerage firms have them on their platform.
	You know, the big full service firms don't.
	Right.
	Like if you have an account at Merrill Lynch.
	They won't let you buy my funds at Merrill Lynch.
	But if you have Schwab or Fidelity or Interactive Brokers or E-Trade, you can buy my funds.
	So what are the names of these funds?
	I'm sorry to interrupt, but people are going to want to look up the names and maybe buy these.
	Yeah, and in fact, one of them, my International Dividend Payers Fund, last year was the number one fund In the international value category, out of 350 funds, I was number one in total return.
	And you can't even buy it at Merrill Lynch, right?
	But you could buy it at the discount brokers.
	I was number one according to Moody's, according to Lipper, out of 350 funds.
	U.S. News& World Report, which if you saw, we put that on our website, but they did a survey of international value funds, and they looked at all 350 of the funds in the category, and they narrowed it down to the top 60, and then they ranked them.
	And they were looking over a one-, three-, and five-year time period.
	My dividend payers fund was number one, and my value fund was number three.
	The only fund that beat my value fund, other than my own fund, was a Goldman Sachs fund.
	They had a lot more horses in the race than I did.
	I only had two funds out of the 350.
	Two were mine, and I was one in three.
	I won, and I showed.
	I think that This year, I could end up with one and two.
	Again, nothing's for sure, but I think my portfolio in those two funds, your Pacific value, your Pacific dividend, is poised to do very well in this environment of a return to quantitative easing, maybe rate cuts, stagflation, another financial crisis.
	I think I have the type of stocks that do well in that environment because I've been positioning for this environment for a long time.
	Yes.
	An emerging market fund, which is doing great so far this year on a relative basis.
	And I think the emerging markets are going to do particularly well in a weak dollar environment, which is where I think we're going to be for the remainder of the decade.
	So I think emerging markets are going to do better than developed markets.
	And certainly I think all developed markets that are outside the U.S. I think will beat the U.S. So I've got that.
	Then I think the fund that is going to deliver the best returns, but of course with the highest risk, but I think that it's going to end up being worth it, is my gold fund, the Europe Pacific Gold Fund.
	Because I think gold stocks are just going to go up 10 times, 20 times.
	Some of them will go up 50, 100 times.
	Some of these really small ones.
	So you can buy my gold fund.
	And then I also have an international bond fund.
	So if you don't want to be in equities, if you just want to kind of park your money in cash and get a yield, but you don't want dollars, you'd prefer other currencies, then look at the Euro-Pacific International Bond Fund.
	So you can buy that.
	So those are the five funds.
	You can buy them, you know, again, if you have a brokerage account, you can buy them.
	We actually have a product at Europe Pacific Asset Management that we call a WRAP account, in which we'll manage a portfolio for you in those five funds.
	Now, also, if you don't have a brokerage account, right, you can go to my website, EuropePacific, Europac.com, And you can buy the funds right on the website directly from the distributor with the same $2,500 minimum.
	You don't have to talk to an advisor.
	Just go on the website and you can just buy it, send your money in, and you'll own the shares directly at the fund.
	So you don't even need...
	A brokerage account.
	You could do that.
	But if you're doing more money, the minimum for a RAP account is $50,000.
	And there you can talk to one of my advisors at Europe Pacific Asset Management.
	They'll take you through the paperwork.
	You'll have a personal advisor.
	But if you're just putting in $2,500, $5,000, you don't talk to anybody.
	Just do it on the website.
	And do it yourself.
	I thank you for taking the time to detail that.
	This is really fascinating, not just for our audience, but also I'm talking to a lot of people personally, family and friends, who are just right now finally getting what I would say financially red-pilled.
	I'm sure this is happening to you too, Peter, where they say, oh, you know, I ignored you for 10 years or 15 years since 2008.
	Now I realize that the banks really aren't safe.
	What should I do?
	And I'm like, well...
	Buy gold.
	But then they say, well, I don't know what to do with gold.
	Maybe I can't defend it.
	Maybe they live in an apartment somewhere.
	They can't bury it in their apartment.
	Or maybe they're elderly and they don't own a Glock.
	I don't know.
	But whatever the case may be, they're looking for something that's maybe gold mining stocks.
	Well, gold mining stocks are very different than gold itself.
	I look at gold as a store of value, as a safe haven, as just an alternative to cash.
	That's what it is.
	It's money.
	It's not an investment.
	But gold mining stocks are an investment in businesses that mine gold.
	And so whenever you make an investment and you're a stockholder in a company, you subject yourself to all sorts of risks, market-related risks, company-specific risks, political risks.
	But If the price of gold does what I think it's going to do, you know, these gold stocks are gold mines.
	I mean, they're going to go way up.
	I mean, I have, you know, a lot of my own portfolio, my personal portfolio is invested in gold stocks, a very high allocation, maybe about 50% of my investment portfolio, not my net worth, but what I have in my brokerage account, right?
	About half of that is in gold mining stocks.
	The rest is in dividend-paying foreign stocks.
	Some of them are in the commodity space.
	My second largest allocation is oil and gas and alternative energy.
	So I have a lot of energy-related investments.
	But they all pay good dividends, most of them.
	I mean, pretty high.
	And so I'm getting income off these investments.
	And I don't need the income because I have income.
	So I can reinvest the dividends in more stocks.
	That's what people need to be doing when they're building for retirement.
	What Wall Street tells you to do is buy these stocks that don't pay any dividends while you're working.
	And then when you retire, you can sell those stocks and buy bonds and get some income.
	Well, what if by the time you retire, the stocks that you bought have crashed, and they're not worth very much, and if you sell them, you can't get much income.
	You see, I build portfolios for people, and we have separately managed accounts, too, that you can have an account that's individual stocks, too, not funds, and you can talk to my brokers.
	But I build portfolios that you don't have to sell when you retire.
	So you have a portfolio that's paying 5%, 6% dividend right now, right?
	But it's also stocks that are growing their earnings and should appreciate and grow their dividends.
	So as you're working, when you don't need the income, you take the dividends and you reinvest and you buy more stock.
	Then, when you retire, you've got this big portfolio of income-producing stocks that's even larger because you've compounded your returns by reinvesting those dividends.
	Now, when you go to retire, it doesn't matter what the price of those stocks are because you don't have to sell them To retire, you just stop reinvesting the dividends and you live off the dividend income.
	That's right.
	That's a much better strategy than betting on a Ponzi scheme.
	Oh, I'm just going to hope these stocks go up and when I retire, you know, I'm going to hope they're high.
	What if they're not?
	What if the price crashes?
	I'm buying stocks, doesn't matter what price it is, because you're not going to sell.
	You're just going to spend the dividends because they're real businesses generating real income.
	And the reason that this strategy is going to work, I think, so well is because I'm buying foreign stocks.
	So my income is coming from foreign currencies.
	And if the dollar really goes down, then when you translate those foreign currencies back to dollars, your dividends will be far more valuable.
	And so, you know, they'll go a lot further when you spend them here in the United States.
	That's the thing.
	In all your videos and interviews, everything you say makes perfect sense.
	It's logical, it's rational, it's cause and effect, and it's just that some people choose to ignore that for whatever reason because they'd rather believe Jim Cramer for some reason.
	Peter, I really wanted to ask you today about your take on what's happening with Credit Suisse.
	And also the First Republic bailout in the United States.
	But first, Credit Suisse, you know, Swiss National Bank has said they're going to step in with however much money is needed to prevent this thing from collapsing.
	Seems like the same plan that the Fed has for printing money in the U.S. What's your take?
	Well, I don't think any banks should be bailed out.
	The fact that banks are bailed out is the problem.
	We've set a precedent and created a moral hazard by bailing out banks.
	And because everybody expects a failed bank to be bailed out, the banks take a lot more risk than they would take in a world where they weren't going to be bailed out.
	I mean, why should we create a special privilege for banks?
	Why is it that if a bank is in trouble, it qualifies for a federal government bailout?
	I mean, where in the United States Constitution does it authorize the United States government to bail out failed banks?
	It doesn't.
	I mean, that's not a role of the U.S. government.
	I want bad banks to go out of business.
	And if bad banks were allowed to go out of business, fewer banks would be going out of business because fewer banks would be bad because they would be forced to be responsible because they're depositors.
	We'd force them to be responsible.
	You see, when the depositors are sure that the government will bail out their bank, well then they'd just give their money to any bank, which, whatever one is the closest to my house, that's where I'm gonna put my money.
	Who gives a damn what they do with it?
	I don't care, because it's all government guaranteed.
	But if everybody knew that I'm not an auto mechanic.
	I don't have any expertise in How cars work.
	I buy cell phones.
	I mean, I'm not an electrician or an engineer.
	I don't need computer science.
	I don't know how any of this stuff works, right?
	I buy stuff all the time.
	I don't know how it works.
	But there are consumer reports out there.
	There's other ways I can do my research to try to figure out what brand I trust, what I want to buy.
	The same thing would happen with banks.
	We had banks in this country before we had deposit insurance.
	We didn't get any deposit insurance at all.
	Until the Great Depression.
	So we managed to go from 1789, whenever we signed the Constitution, to 1933 or 34 without any deposit insurance.
	We financed the Industrial Revolution without any deposit insurance.
	We had big banks.
	Lots of people put money in banks.
	It all worked fine.
	And in fact, even during the Great Depression, with all the bank failures, Only about 2% of the value of all the money on deposit in all those banks was lost.
	That wasn't that bad, considering that it was a Great Depression.
	Because the banks are much worse off now.
	They're far less stable than they were During the Great Depression, because back then, the market was regulating the banks.
	Now, you've got the government regulating the banks, and it's much worse regulation.
	And of course, you've got this moral hazard, because people just put their money in any bank, and the banks know.
	The banks know that people don't care what they do with their money.
	Because it's all guaranteed by the government.
	So this is a mistake.
	The Swiss government, everybody thinks you can't let a bank fail.
	And the problem is, because of the attitude that no bank can fail, that's why all these banks are so big.
	All these banks that were designated as too big to fail in 2008, well, they're all way bigger now.
	Maybe we should have let some of them fail.
	We would have been better off instead of making them so much bigger.
	Now they're really too big to fail.
	But the thing is, they're too big to exist then, if they're too big to fail, because everything has to be able to fail.
	Because if you think a bank can't fail, then everybody wants to put their money there.
	If they've got this government guarantee, how are you supposed to compete with that?
	I start up a little bank.
	How am I going to compete with this huge bank that's too big to fail when my bank isn't too big to fail?
	So how do I compete with that kind of...
	Yeah, well, and yeah, here we are.
	Last question I want to ask you, though, kind of on a personal note, but first, let me plug your website for you here, shiftgold.com.
	Also, you have a gold retail operation here and a free report, free download of avoiding gold scams, which I think is really critical.
	I've heard a lot of people getting ripped off buying proof sets.
	Oh, yeah.
	Especially when they have these proof sets of these brand new coins that were just minted.
	Why pay for a proof?
	I mean, it's going to be in pristine condition even if it's not a proof.
	Exactly.
	It's like when it matters to get something in really nice condition is if it's like 100 years old.
	It's like most of them are all beat up because people are carrying them around in their pockets.
	But if something just rolled off the mint this year, you don't need it all in a little plastic container that says certified or pristine condition.
	You're not going to get any extra value, but you're going to pay a lot more money for it.
	And where does that money go?
	It goes to the broker or the gold salesman who sold it to you.
	And that's why if you go and you look at all the talk shows, the right-wing talk shows, You know, they've all got sponsors.
	All these gold companies sponsor these guys.
	How do they get the money to pay for these endorsements?
	Because these guys don't come cheap.
	They charge a lot of money to endorse one of these gold companies.
	They get it from their customers by overcharging them for their gold.
	That's the problem.
	Absolutely!
	We don't spend any money on advertising, not a nickel.
	The only advertising is me talking about it, right?
	So I don't have to pay people to promote it so we can pass on the savings.
	We don't rip anybody off.
	You know, the markups are very, very low.
	And you know, you maximize how much gold and silver you get for your buck.
	You know, the money stays in your pocket.
	It doesn't go into Schiff Gold's pocket.
	No, I'm really glad you mentioned that.
	I had one of these sponsors that's out there.
	I'm not going to mention names, but they came to me.
	They literally offered me $100,000 a month to plug them because they sell these proof sets that I know are ripping people off.
	And I said, hell no.
	There's no way.
	They said, no, we'll give you six figures a month minimum.
	And I'm like, forget it, man.
	What am I going to do?
	Rip off my audience?
	Yes, of course, because that's where the money comes from.
	If they're giving you $100,000 a month...
	I mean, that's a lot of money.
	I mean, Shift, that's about all the profits that Shift Gold makes.
	Maybe a little bit more, but I mean, total on everything that we do.
	It's not a high markup business.
	No, exactly.
	Margins are normally pretty darn thin on gold.
	In ours.
	I mean, we mark up gold, make one to two percent.
	That's it.
	And then out of that, I got to pay all my bills, right?
	Exactly.
	If I mark it up one percent, I don't keep that.
	That's gross.
	Now I got all kinds of overhead and stuff like that.
	We could never afford to pay you $100.
	You'd have to send us so much business.
	No, it'd have to be like $10 million a month or more.
	But most of these talk show hosts, they don't give a damn.
	I mean, that's so frustrating.
	I see that too.
	They just sell out and they sacrifice their audience.
	They say, this is the gold company I trust.
	And it's all BS. It's the gold company that paid them a lot of money.
	To help them rip off their own audience.
	So yeah, congratulations for giving a damn about the people who are watching you and not abusing.
	You know, that's one of the things that happened too with all the crypto and all the pump and dumps.
	You know, somebody would come out with a coin, right?
	And they would pay some influencer to tweet about it or put it on Instagram, you know, because then they can dump it.
	And they were ripping off their own followers by sucking them in.
	But that's what's going on in the gold industry, and it's still going on in the gold industry right now.
	That's why we have that, you know, gold scams, because there's so many things.
	Some of these gold companies mark up their coins 40, 50, 60 percent.
	I mean, the price of gold has to basically double just for you to break even.
	And they bury it in the fine print.
	But they take advantage of these older people who listen to these talk show hosts and they just trust the talk show hosts and so they buy from whatever gold company they recommend and they get ripped off.
	It's very unfortunate.
	We're on the same page, and the sponsor that I do have that I've had for years also is right with you, Peter.
	They rail against these scams, the bait and switch, the proof sets, all that stuff, and they get a lot of hate for that.
	But you know what?
	At the end of the day, folks, you better get the most ounces per dollar when you're in this translation.
	Yeah, and there are other...
	You know, ShiftGold's not the only honest gold and silver dealer out there.
	I mean, there's plenty of...
	You just don't know about us because we can't afford to advertise.
	Right, exactly.
	And that just shows you how small the gold market is right now.
	Nobody is buying.
	Believe me, when...
	But business really picks up when more people realize that inflation is here to stay.
	And, you know, the business at Shift Gold, when it grows, you know, tenfold, right?
	I'll be able to afford to advertise when I have enough volume to do it, right?
	And so then people will know about us.
	But right now, since the business is so small, right, that the pool that we're all divvying up...
	There's no way you can advertise.
	You can't advertise on CNN or Fox without ripping off your customers, because there's no way you're going to be able to do it.
	You know, given the fact that ShiftGold is out there, you can't compete with us if you have to buy those ads.
	You can come on here at no charge, anytime, all the time.
	I will gladly give you publicity and mention ShiftGold.com because you know what you're talking about.
	So that's an open door.
	But last question, just to be sensitive to your time.
	Kind of a personal question.
	Has anybody apologized to you yet because you were right?
	You were right.
	You were right.
	Maybe you were a little bit later.
	But you're still right about exactly what's going on.
	Anybody?
	The only people that apologize.
	So in 2009, right, Ben Stein apologized to me.
	He was one of the guys that was kind of laughing at me and making fun of me in 2007 and stuff like that.
	So Ben Stein apologized.
	That was a long time ago.
	But I forget most people haven't apologized.
	I mean, they still make fun of me.
	They still think I'm wrong or I'm just a stop clock.
	But the stop clocks are the people who have been bullish for the last 15 years or even longer because they didn't understand the problems underlying the economy.
	They don't understand all of the mistakes that the Fed has made and what the consequences of those mistakes will be.
	The problem is I see this so clearly and so far in advance.
	That if it takes a long time for everybody else to figure out what I knew from the beginning, they think I'm wrong all those years.
	I'm not.
	They're wrong all those years.
	I'm just right.
	It's just because so many people are wrong, that's what allows it to continue for such a long period of time.
	The bubble gets bigger and bigger and bigger because nobody knows that it's a bubble, except the guys that are on the outside looking in saying it's a bubble, it's a bubble.
	But, you know, now the air is coming out and people don't understand it.
	I mean, and when COVID first hit...
	And I saw immediately the impact that was going to have because we were telling people not to work and then we were printing more money.
	So we were producing less and printing more.
	That was a recipe for massive inflation.
	And now we're having to eat that.
	But still, you know, the mainstream was worried about deflation, deflation.
	They're printing money like crazy and nobody's working.
	And these fools are worried about prices going down.
	Prices were going to go way up.
	And now, you know, we've been creating inflation for 20 years.
	We had interest rates at zero.
	We printed all this money.
	The Fed's balance sheet got to $9 trillion.
	Now we're going to have to live with decades of high inflation and potentially hyperinflation based on, you know, the way these policies are evolving.
	So we'll see if some people apologize when we finally get that kind of outcome, which is, you know, my big picture forecasts have been for collapse of the dollar, skyrocketing gold prices, the dollar losing its role as the reserve currency.
	So these are like the big endgame things.
	And so maybe some of the apologies will be reserved until those things happen.
	But, of course, by then it's too late to follow my advice.
	If you wait until I'm right about everything.
	Then it's not going to help you.
	Exactly.
	You're broke by then.
	So you have to look at the things I've said, the things I've written over the past 15, 20 years, and say, you know what?
	98% of what this guy said would happen has happened.
	In fact, all the stuff that he said would happen, everybody else said was impossible.
	It would never happen.
	So I think I've got a very good track record of understanding the big picture.
	Has everything that I predicted come to pass?
	No.
	But you have to, you know, gauge, you know, do you think if I've got so much right, what do you think the odds are that I'm right on the rest of it?
	Versus just following the advice of people who have gotten everything wrong, you know, including, you know, the people who have run the Federal Reserve.
	And, you know, make your investment.
	I mean, you know, get out of the dollar.
	You know, get out of harm's way and, you know, inflation-proof your portfolio.
	It's not just crash-proof this time.
	It's inflation-proof.
	Really good point.
	Very important advice, folks.
	I encourage you to do your research.
	Check out the EuroPacific Asset Management Company as well.
	I'm going to look at a couple of your funds there, Peter, now that you told me about them.
	I'm interested personally, but I'll look at those.
	The website is europac.com, like EuroPacific, europac.com wealth management services.
	I'm not paid anything.
	Peter Schiff's not a sponsor here.
	He's just a very informative...
	Thank you for joining me today.
	I appreciate you having me on as a guest.
	Absolutely.
	You're welcome here anytime.
	So thank you so much.
	And for those of you watching, share this video anywhere you'd like.
	Give credit to Peter Schiff at Europac.com.
	Of course, I'm Mike Adams, the founder of Brighteon.com, free speech platform.
	Thanks for joining us today.
	Everybody, be safe.
	Take care.
	All right, today's interview brought to you by the Satellite Phone Store, SAT123.com.
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	A quick note here, out of the studio, I just want to disclose that until today, I owned no mutual funds, no stocks or bonds or anything.
	I was not in the market at all.
	But after interviewing Peter Schiff, a few hours later, I did purchase a $5,000 of...
	No, no.
	$4,500 of one of his funds.
	The Euro Pacific Gold Fund Class A symbol EPGFX. So I do want you to know that I did purchase that fund.
	Because I was so impressed with the interview.
	You know, a few thousand dollars.
	I want to watch this.
	And I see what's in the portfolio is a lot of gold and silver mining companies, which, frankly, is exactly what I was looking for.
	I've been wanting to park a little bit in some mining companies, but I don't know which mining companies are any good.
	And I don't want to manage.
	I don't want to have to watch a bunch of mining companies.
	I'm busy, like you, right?
	We've got other things to do.
	So I figure Peter Schiff is watching these companies.
	He's put them all together into this fund.
	And so I'm going to, I'm going to give some money to Peter Schiff fund and let him manage this.
	It's kind of a high price or high load fund, as it's called, you know, a high management fee for it roughly compared to, to other funds.
	It's 4.5% annual.
	So that's, that's pretty high as, as far as funds go.
	But Hey, again, I'm busy doing what I do.
	Let's let Peter Schiff do what he does, his expertise.
	So I just wanted to be upfront about that, that I did just purchase $4,500 worth of his fund.
	So...
	There you go.
	I will always disclose if I have any financial ties to guests like that.
	Not that this is, I mean, you know, he didn't pay me anything, obviously, to interview him or to mention this.
	I'm just saying, I think it's very compelling what he's doing.
	So you make your own call, but I just want to be upfront about this.
	Full transparency.
	Thanks for listening.
	A global reset is coming.
	And that's why I've recorded a new nine-hour audiobook.
	It's called The Global Reset Survival Guide.
	You can download it for free by subscribing to the naturalnews.com email newsletter, which is also free.
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