Overview of Europe's Economic and Political Crisis
Martin Armstrong, founder of Armstrong Economics, provides a detailed analysis of Europe's deteriorating economic conditions and the geopolitical tensions driving the continent toward conflict. He highlights the following key points:
Economic Collapse and IMF Loans
- France and Britain may soon require IMF loans due to weak economic growth. Learn more about the implications of these loans in Understanding the Global Economy: Insights from Leading Economists.
- The European Union's economic growth is a fraction of the United States, signaling systemic decline.
- The Eurozone's structural flaws, such as disparate interest rates among member countries, exacerbate financial instability.
War as a Political Strategy
- Europe is allegedly pushed toward war to distract from economic failures and prevent social unrest. Explore historical patterns in Understanding the Looming Recession: Why Only the Paranoid Survive in Today's Market.
- Historical patterns show that failing states often seek external enemies to unify populations.
- Migrant populations are reportedly being used to bolster military forces, with plans to draft migrants lacking skills or language proficiency.
Neocon Influence and American Foreign Policy
- Neoconservatives have usurped U.S. foreign policy, promoting aggressive stances against Russia and China. For a deeper dive into U.S.-China relations, see Understanding the US-China Relations: Insights from Nelson Wong.
- Actions like removing Russia from the SWIFT system and threatening China have backfired, leading to alternative financial alliances like BRICS.
- Political leaders are often puppets controlled by unelected deep state actors.
Historical and Cultural Context
- Armstrong emphasizes the importance of understanding ethnic and religious divisions, such as those in Ukraine and the Middle East, which complicate simplistic geopolitical narratives. For more on historical conflicts, read The Aftermath of World War I: Pathways to Conflict and the Rise of Totalitarianism.
- He critiques the legacy of colonial border-drawing and the failure of imposed political systems to reflect cultural realities.
Assassinations and Political Power
- Political assassinations and suspicious deaths are common tactics to maintain power and suppress opposition.
- Examples include the deaths of AFD candidates in Germany, Vince Foster, Robert Maxwell, and others linked to deep state activities.
Middle East and Israel
- The conflict in Gaza is described as a PR disaster for Israel, complicated by terrorist groups embedding military assets in civilian areas.
- Israeli leadership is influenced by neocon ideology, with complex religious and geopolitical factors preventing resolution.
Global Financial Insights
- Capital flows react strongly to geopolitical risks, moving to perceived safe havens like the U.S. dollar during crises.
- Historical financial crises, such as the Great Depression and the Eurozone debt crisis, illustrate recurring patterns of capital flight and contagion.
Critique of Climate Change Policies and COVID-19
- Armstrong claims the COVID-19 pandemic was used as a pretext for climate change agendas, including lockdowns and urban planning like 15-minute cities.
- He challenges mainstream climate change narratives, citing historical climate cycles and criticizing suppression of dissenting scientific views.
Deep State and Global Elites
- Unelected bureaucrats and globalist organizations control political agendas, undermining democratic processes.
- Armstrong shares personal experiences of political manipulation and the challenges of advising governments.
Reflections on Leadership and Human Nature
- Armstrong laments the current generation of world leaders as the worst he has witnessed.
- He stresses the cyclical nature of history, where each generation repeats past mistakes.
- The pursuit of power and control often overrides practical governance and public welfare.
How to Learn More
- Visit Armstrong Economics (armstrongeconomics.com) for open-source economic analysis without advertising or bias.
This comprehensive discussion offers valuable insights into the interconnectedness of economics, politics, and social dynamics shaping global events today. Armstrong's perspective encourages critical examination of official narratives and highlights the importance of understanding historical context and systemic patterns.
It's the economic side that is pushing Europe towards needing war. And if they don't do that, then the problem they see
is that when the pensions fail, uh the euro is failing, then people are going to pick up their pitchforks and storm
the parliaments. The whole COVID scam stuff like that was for climate change. I had inside information that coming
from the WF 3 months before anybody even heard of the word COVID. Phone calls were being made, get out of the markets,
a virus is coming. The whole reason for the migrant crisis initially began under this theory that the birth rate is
falling. So therefore, they need more people to come in because all these pension funds are on Ponzi schemes. and
then it has migrated to itself to using these people. They think they're go they can draft them into war against Russia.
I can tell you I was on the phone with uh people from Romania and they were instructed I'm not sure what's in the
news the press yet but I was told directly that um they were instructed to take a 100,000 migrants in uh from
Middle East and and Africa. And so why you know what are these people? No skills, nothing. Uh don't even speak the
language. Basically just for soldiers. >> Welcome to Discourse with Christian. I'm your host Christian White. And today is
of course a returning guest Martin Armstrong, the founder of course of Armstrong Economics. Martin, how you
been? Thanks for carving out the time today. >> Oh, not too bad.
Hanging in there. Just watching the world go crazy all the time. Well, um, obviously there there's
there's a lot going on with, you know, I figured we we'd start off with your your latest thoughts going on around the
world. >> Well, you have um
you had news finally coming out that France and and Britain, you know, may have to apply for an IMF loan. Uh I mean
this is what I've been talking about that the um the economic conditions of Europe are
just pathetic. Uh you can look on um you know on the Federal Reserve database and just compare the the quarterly
economic growth of of the EU to the United States. It's a tiny fraction. I mean they're falling apart. It's
crumbling. Um, and this has been the incentive for war. Um,
and you know, it it's it's a classic psychological
um phenomenon that even that Freud even understood and it's called projection.
And you project onto others what you would do yourself. And
when you look at the actions of all these world leaders in Europe uh and these neocons and it's
it's stark raving mad madness. I mean they are fulfilling exactly what Freud said. Um
and you know when Kruef was there and said we will bury you know he was a real believer in communism
and he actually believed that stuff that communism is going to defeat capitalism. So it was more dogma
and um uh when Yelson was getting attacked by the
neocons over here and then the the the the communists on the other side had filed a motion for impeachment and they
turned to Putin and Putin wasn't a communist and he wasn't an oligarch and the people cheered his his
popularity was over 70%. More than any American president ever had, mainly because they did not want to
go back to communism and they were sick and tired of the of their, you know, um, oligarchs who were basically trying to
sell Russia to line their own pockets. Really, that's really what was going on. Um,
so I mean they're not interested in returning to that sort of a lifestyle anymore than the people in
Eastern Europe are or even China for that matter. Um, so I think that you know what they
constantly do. I mean, you have that video of Lindsey Graham with Zillinski saying,
"Oh, this is the best money we ever spent to kill Russians." They're still living in the 50s.
Oh, they want to spread communism to the whole world, so we're going to spread democracy to the whole world. Well, that
stopped. But you didn't. You know, I had arguments with Bill Crystal back in in the 90s.
You know, we removed Saddam Hussein uh out of Iraq, Assad out of Syria, and Gaddafi out of Libya. We'll bring peace
to the Middle East. I said, "You're out of your mind." You know, they judge others like they're
a country, but we drew these borders. We carved up the Ottoman Empire, and their ethnic differences the same as you saw
in the Balkans. When Czecha Slovakia split, it was Czech Republic versus Slovakia. Yugoslavia
broke up all along ethnic lines. That's what's going on in Ukraine. The Donbas are Russians and the rest aren't. I
mean, um, these differences are there for a, you know, for centuries.
in the Middle East they see themselves as Sunni Shiite Kurd uh and that comes first. They never saw themselves as a
nation. Um so I mean these are delusional things and they project
exactly as Freud said, whatever they think upon somebody else and u it's just not the same.
You can't do that. Um, so this is all you you see and my opinion is that they have usurped
um American foreign policy. Um, that was why they pushed Biden in and they wanted they were they wanted
him to run again because he's just, you know, one of those dolls on the back of a car with the head keeps popping,
you know. um they got to do whatever they wanted. Um
you take you know blink these people only look at what they want to achieve.
He removed Russia from the Swift system. Oh, I'll punish you. All right. Then he actually threatened China.
You help Russia, we'll do the same to you. as if the United States can rule the
world. What happened? Okay, so they all started leaving. They created bricks,
their own clearing systems. I can't blame them, you know. And and even India,
we're not going to be dictated to. you're not we're not a a a plebe and and the Roman Republic, you know. Um
but this is the their attitude. They they usurped American foreign policy
and put in their own agenda that has nothing to do with the American people or our country. You can look on
uh on YouTube and and I suggest looking at um Robert McNamera's apology for taking into Vietnam.
And I guess he wanted to clear his conscience before he died because 58,000 Americans died in that
fiasco. And he said, "We thought Russia was involved."
So we were defending our democracy and all this other kind of stuff and then he admits we were wrong. Russia wasn't
involved. It was just a civil war. Fine. 58,000 Americans died because you were wrong.
All right. And how many millions of other people died? That that's what I mean. They project on
other people what they think. um
and and they don't listen or they only hear what they want to hear. Um
you know, they they say, "Oh, well, Putin won the resurrected the the USSR." No, he didn't. They took a comment that
he said um at the fall of the Roman Empire of the Zars,
okay, was a great tragedy. He also criticized Lenin and there were even you can Google it up
there. They were questioning if he said he wasn't a statesman, he was just a bolevik.
And so he wasn't praising the USSR. He was praising the old Roman, you know, uh the old Russian Empire of the Zars.
And there were even speculation that he was going to remove Lenin's tomb. from from Moscow and he said, "No, I'm not
going to do that. It would cause too much of too much civil unrest and a pro, you know, a problem." Um,
but they go, "Oh, see, he wanted to re resurrect communism and US art." He didn't want to do that. Um, you know,
they don't look at the second half where he's criticizing the Bolsheviks. Um, so I mean you have to listen to, you
know, everything and and stop judging everybody by what you think, what you would do.
I saw it in Australia. They built they felt sorry for these aboriges. Oh, they're sleeping in riverbeds. So they
built them uh housing, some apartments, and furnished them. They went in, took the furniture, took it out, and used it
as firewood. So, you know, I sleep under the stars. To them, that's like sleeping in a
prison cell. You know, it you can't judge everybody by what you think is norm.
And I I don't know. And until we just need a new crop of of leaders in Europe, and we got to get rid of these neocons.
I mean, um, they're the ones taking us into war and it it's just
like, you know, me walking into a bar and I punch you in the mouth. Why'd you do that? Go, well, I knew you really
wanted to hit me. So, it's self-defense, you know. Um, it's nice theory, but it does, you know, it's not practical, but
this is the way they are. they they everything is um they're still fighting communism like
McCarthy from the 50s. Um and you know, you just had Ursula coming
out and saying they're drawing up definitive plans to to send troops into Ukraine.
And then what will happen? Europe needs war. This is an old
strategy goes back into ancient times. All right? When you're failing, you need an
external enemy. Otherwise, they're going to come get you. Um,
and you know, you've got France and Britain on the verge of people even discussing
IMFs. And France is one of the largest economies
in the EU. I mean, the whole thing is just screwed. I mean, I' I've spoken to
people in France. They call Mcronone the petite Napoleon. You know, he wants to conquer. They they
delusional. They even have proposed that if they conquered Russia and they listened to the neocons,
oh, they're weak, they could be taken. You had Kinzinger who was uh on the January 6 thing said we could defeat
Russia in three days. Three days. So I guess five days for China and then we rule the world. What? Um and who's
going to save us from them, you know? But um I it's just getting to be completely
nuts. They think if they can conquer Russia, they have 75 trillion in assets. And what I have heard is that they think
if they get their hands on that, then that's twice the size of the US national debt and Europe will rise again like the
Roman Empire. They're just nuts. Um, they always went past glories.
You know, I've been up to lunch in London, you know, and you get a few drinks and and they go, you know, the
sun still doesn't set on the on the British Empire. Yeah. Okay. Okay. You know, and Tokyo, the same thing. I've
been to to dinners, you get a few drinks in the old guys, they emperor still god, you know. Yeah. Okay. Yeah. Um,
Turkey got Arerodan, you know, drooling over the prospect of resurrecting the Ottoman Empire. Um,
we handed a few a handful of jets to Greece and made the front pages. They said, "Now we can do a sneak attack on
Turkey." you know, um I mean, you know, they're two NATO countries, but that hatred goes back to
the days of Alexander the Great. I think that's why a lot of people fled Europe, came to America. Um they
wouldn't get away from all that you know, and that's why Americans were always isolationists.
Uh, I was watching a documentary on FDR and he went to Boston to try and justify sending troops to get into World War II
because Congress would always say no. Uh, until Pearl Harbor and and the Irish said, "You really
expected us to send our boys to go defend the Brits after what they did to us in Ireland?" I mean, you know, this
was what you saw. It was like um you know they basically came here to get away
from all that stuff and that's why Americans were always isolationist. They didn't want to get
involved. Um and thanks to our neocons they keep
trying to get us involved in everything. But uh uh you know this is this is what you're really looking at. It's
um I warned Europe. They came to me when we were forming the Euro. I told them how
to do it. They um I told them it was going to fail. And
this is the risk. We saw that with Greece in 2010 when they needed an IMF loan.
Um what happened? You know, all the traders shortened Greece, made a fortune. Who's next? Oh, Spain. Yeah,
this is the way capital functions. Okay, you're in a trading room and everybody's like, "Okay, what's next?"
You know, um everybody was in Tokyo for 89. Then what happened? Oh, okay. What's next? Oh, Southeast Asia. Then that
peaks in 94. All right. Then, oh, what's next? Oh, the euro. They're coming for the euro. It runs back the other way.
This is capital acts like a herd of wild animals, you know. I mean, it's I've been doing
this for more than, you know, close to 50 years. And I've seen it all the time. This is how it works. Um,
and I warned Europe that if they did not consolidate the debt, this is going to be the problem. Just
look at all the peripheral interest rates. You have a single currency, that's fine, but every country pays a
different interest rate according to the credit rating. I said, 'L we have a single currency in the United States.
Um, single rate only applies to the federal government. You have 50 states and they
pay different rates according to their credit rating. All right, that's what will happen in
Europe. Now, the problem here, California could go bust and the traders are going, "Oh, okay.
Who's next? Oh, maybe Illinois." All right. They're not going to go to the feds. It's a different his different
system in Europe when you don't have that federal debt.
France goes down. Oh, who is next? Oh, look at Germany. They're they're maybe ready to pull off, you know, go off the
edge as well. And you'll get the same kind of contagion. It will run and attack one currency to
another. You can read It's free online. Herbert Hoover's memoirs go to 1931.
Same thing happened. French started attacking the Austrian bonds. Germany tried to support Austria. The French
then turned on Germany. Brits tried to help Germany and they all ended up defaulting.
And Hoover in his memoir said, "Capital acted like a a loose cannon on the deck
of a ship in the middle of a torrent hurricane life. It was shooting off in every which direction so fast they said
we couldn't form a committee quick enough to figure out where it was going next." That's how capital moves.
to understand a debt crisis in Europe can send the dollar up dramatically.
Um mainly because you got to park your money someplace. All right? So World War I, World War II,
the capital came here. Even the Suez Canal crisis, capital came to the dollar. Cuban missile crisis, no.
because the the the risk of conflict was here. So capital moves away from wherever the
risk of conflict is. If China went into Taiwan, Japanese capital is coming to America.
This is simply the way it works. You always move your money away from wherever you know the the geopolitical
event is. You're not going to leave your money in a bank with tanks driving down the street blowing up, you know, blowing
up every building. I mean, come on. Um, so this is the risk that we see going forward. And so it's the economic
side that is pushing Europe towards needing war.
And if they don't do that, then the problem they see is that when the pensions fail, uh the
euro is failing, then people are going to pick up their pitchforks and storm the parliaments.
Every revolution, look at them, they basically start over taxation and debt.
French Revolution, American Revolution, no taxation without representation. You know, taxes and debt have caused
more revolutions than than any other issue throughout history. You know, even the you go back to the
plebes, they were in 494, you know, BC, they walked out, refused to work. they
forced political change in in the Roman Republic. Um debt was even worse then that if you
couldn't pay then then to satisfy the debt you became a slave and take your kids and sell them into
slavery. So it was a little bit you know much more serious back then. Um but you know just look at most of them
you know it's it's always these issues yet you know for some reason I don't know why but
vast majority never pays attention to it. you mentioned about debt. You had me,
you know, you um over in uh the uh during the uh Roman period, um you just mentioned about uh it was more egregious
if if if uh if you were indebted and such, you know, with the children and such. Um you reminded me of uh uh
debtor's prison and such going back a couple hundred years ago. And a lot of prominent people uh throughout the ages
have have had to do that and such. um uh as it relates to Europe and in particular um the European leaders and
such. I I just saw today that apparently and I'm looking at my notes here real quick that I guess six AFD
um candidates have have died under questionable more or less circumstances. Um do do you care to share any
commentary on that? Look, they've used assassinations
um pretty prominent. I would say it became a real theory
um in you know during the 19th century you know Lincoln etc.
um McKinley, Garfield, I mean these were um you know it was the anarch
theory that you remove a head and then you get the political change. Um justified in that it's uh you're only
killing one person instead of war. Um but
uh look they you know this is why they tried to assassinate Trump. They took out Kennedy. Same similar
reasons. He didn't want to go into Vietnam. Um the Bay of Pigs. Neocons took him out. I
mean, there was a letter I posted on my site that came out of the papers that were finally declassified. A CIA agent
told his family in New Jersey that the CIA had killed uh JFK and he was concerned about his life
and he was found shot to death I think within a few weeks. Um
I mean this is look they tried outlawing AFD. Um
this represents a tremendous risk of power loss to them.
Um and it it even is less than I I would say not
um they it's not even over philosophy. It it's I have to retain this power. We
can't let them in. And they tried outlawing it. uh they called them Nazis, everything and AFD became the number one
party in in Germany. Too much of a threat. Um
you see this pretty consistently through throughout history. um you know they
uh what I ended up involved they were asking they were trying to take over Russia
and they were you know blackmailing Yeltson and then that was to be putting in their puppet Boris Barisnowski
and his bodyguard said that MI6 took him They couldn't say Putin did because he
wrote letters to Putin which became public and they were called his begging letters. So why would you know if Putin
wanted to kill him? Fine. Yeah, come on back. Go in and over there. And so they said uh oh he commits suicide.
Epstein. Oh suicide. You know, there was another suicide for, you know, I spoke to people on on investigating
the Vince Foster supposed suicide. There videos of them. Oh, he he was shot in in in an office someplace.
Part of his skull was gone. They took the body to a a park. um never found the missing part of the
skull, but he killed himself there. And then there was a video of them. Oh, how'd he get there? Then they forgot.
And somebody picked his car and drove it there to pretend he drove himself there. You look I mean this stuff is
this is what they do. you know, it it they routinely
resort to um assassinations. They call it, you know, suicide. As soon as you hear that word,
what was behind it? Um, you have Maxwell, her father, Robert
Maxwell, was under subpoena, lost 200 million pounds of illegal trading with the club.
Um, but it was money that was taken from the pension funds
and oh, he he suddenly fell off his yacht and drowned. you know, a week before he's subpoenaed
and supposed to show up to testify. How about that? Very interesting. You know, I won't say who, but when somebody was
asking me to join the club, I just said, I do know how to swim. And uh remarkers, well, you know, things
happen. I said, yes, I know things happen. Okay. But I mean, look, this is
standard. I mean, they will take out anybody that um
is a threat to their power. I was asked to go meet with Ross Perau. I was I was in Tokyo, so I changed my
flight to Texas. That was the weekend he withdrew and he came out, oh, they're threatening my daughter's wedding or
some nonsense. Um, that wasn't it. He had a an airport, like a cargo type private airport,
and they accused him of, "Oh, that's where drugs are coming in. Step out or all this is going to come up
in your face." Oh, I'm um you know, my daughter's wedding that threatened is disrupted, so
he's not going to run for president. Yeah, right. Um look, I I I've just seen more than I
wanted to ever see in my life. I don't trust a damn thing that they say um on anything. Um as soon as you hear
somebody, oh, suicide, question it. Um and um take Epstein.
Look, there's no way they could possibly have a trial. He could start calling in all the people
who were there. All right. Call in Bill Clinton. Call in. Did you really have sex with her?
Yes or no? Can you imagine a trial like that? I mean, there's no way. Oh, he committed
suicide. Very convenient, you know. Um, this is what they do. It's it's uh standard operating procedure.
Uh there was one, I don't remember the guy's name, but there was some somebody connected to the Clintons
um shot himself with a shotgun in the chest and hung
himself. So the question always was, well, did he hang himself first or did he shoot himself first?
I forget which one that is. You can probably Google it and find out. I forget his name. But I mean, this is the
nonsense and that, oh, it was a suicide. Yeah, okay. Suicide, you know, somebody shoots me in the head
from 14, you know, from, you know, 1500 feet away, it's a suicide. Um, it was a remote gun, you know, uh,
who the heck knows? I mean it just but you know they know that the press will not tell the truth so why why
bother >> then yes and and I also want to add the uh the prosecutor I guess who was going
after the Biden administration um I think she was maybe in her she was maybe about 40 give or take you know she had
an apparent suicide I mean I mean it's just crazy how many people you know whistleblowers things of that nature um
let's see here gosh I can go off in a in in a million different directions. Um, well, I'll just ask you this and and I
know sometimes it gets uh I guess controversial, especially, you know, people in in the conservative area and
such. Um, what what's your take on the the state of Israel because um you hear about the Epstein stuff, you hear about
MSAD, you hear about the things over in Gaza. I don't know if you care to share your personal commentary on that. Um,
I'm just curious to hear your your your your take on that and things going on over in the Middle East.
Um, I I think it's been a PR disaster for Israel, what they've
done in Gaza really. Um, uh, and there
there is a a problem with any of these types of terrorists or whatever. Um,
even Zullinski, Saddam Hussein, they all use it. What do they do? They they put
military um production or targets or or whatever
deliberately in residential areas. Uh they used the people as a cover and oh see they killed all these civilians.
Why? What was there? Uh Zillinsky uh has just done done that. And if you look closely, you'll see what what Russia
actually when they oh they hit a big they hit Kiev. Why? All right. Look at what they they did.
The same thing with Israel with taking on embassies, stuff like this. Um, uh, it's pretty standard.
Saddam Hussein, they, you know, put military assets in civilian areas. It's to protect them and then if they take
them out, oh, see, they killed all these civilians, women and children. Um, it's pretty standard uh in in
military. Uh, so I I I think you know the um Hamas has done a
a good job as far as uh PR against Israel. Um, Israel's taking the bait on too many things, but also
um, BB is a neocon. He went to school in Philadelphia.
I grow grew up in that area. He was friends with Bill Crystal. Um, Bill Crystal's father started the
neocon movement. BB was at the Crystals family affairs. He is um died in the wool neocon.
They used him to get to Trump. Um
I think Trump thought, "Okay, fine. He's a head of state." But he's no different than John Bolton
or the rest of them. Um and uh look he was
my sources that said look they what Israel does they try to to eliminate um the leadership
and Trump they took out a lot of the the top people in in I in Iran and um
Trump stepped in and said, "No, do not assassinate the Ayatollah." Um,
I passed on information. Maybe they acted on it or they didn't. I'm not sure. The problem with taking him out,
it would be like um a Protestant assassinating the the Pope. About on average 25 to 30%
of the people in of these other countries, Egypt, etc. are Shiite. So he's the leader of the Shiites. Yes.
Also Iran, true. but he's perceived to be um kind of like you know the head of of
that religion. The same thing you see with uh Zalinsky in Ukraine. Uh he's outlawed the religion because they you
know um Eastern or Orthodox is you know reports basically to the patriarch of Moscow.
So, um, he outlawed the religion. You know, you and he sets up a patriarch and in Kiev, you have to worship him, not
Boscow. You know that you can't do this kind of stuff. Um, but
so with Israel, uh, look, they did a a good PR job, um, against it.
I do think that um taking the bait uh and
going after the terrorists who plant themselves in residential areas
uh for PR purposes shouldn't have done that. Um
so it creates more of a problem and Then you have like Arodan saying that um uh supporting Hamas etc because he wants
to be the next Khalif and uh the Ottoman Empire. Israel was part of the Ottoman Empire.
So he wants to resurrect that as he's said many many times in speeches. Um so it's it's
it's just a real mess. Um and uh I don't see it as um something that's
solvable because then you have a bunch of um
cabalists in the Jewish faith and then you have uh evangelical Christians and they all want to deliberately certainly
bring on Armageddon because they think that uh Christ will return to the Jews will be
the Messiah. Um and you know there you know rebuilding the
temple all this stuff. I mean it's you you know you actually have people deliberately trying to do that there.
Um, I mean, they're keeping a a pretty tight uh protection around the Dome of the
Rock. Um, that's where the the Jewish temple was. I don't know if anybody's ever been
there, but I mean, I' I've been there. There is this huge rock in there. And
to the Jews, this is the rock that Abraham brought his son to sacrifice. And to the Muslims, this is the rock
that Muhammad ascended to heaven from. Same rock. And anybody's been to the Middle East,
I've toured the whole area. It's like I don't know. I mean, it's like, no.
Whenever somebody said something happened here, no, no, no. Somebody else did this. The exact same spot.
I've been to the church of of um the crucifixion there. It was built by I think it was um
may have been initially constructed um after uh Constantine's mother. It's very old. And it has the um the man
where the three crosses were. Then on the other side of the church is is Christ's tomb.
Well, every Christian sect has uh is there. So, you have Eastern um Orthodox, you have Chris, you know,
Catholicism. They have not been able to agree on how to finish the church.
You go there, it's still like it was probably more than a thousand years ago. So if they can never agree on how to
finish it, what hope do you have in the Middle East?
Religion gets in there, it's there's no negotiation. Crazy stuff. Crazy stuff. Um wanted to
um real quick revisit uh Europe real quick. Um I have down in my notes and I'm I'm borrowing this uh from I was
listening to Alex Craner on another show. He mentioned about and I'd love to hear your take on this. I have down you
know he mentions you know about money lending oligarchies uh sacrifice nations and populations to weaken Russia. He
mentions about uh cut welfare pensions health education to fund wars. Use propaganda excuse me plus youth
unemployment to manufacture soldiers and things of that nature. I don't know if you care care to share your thoughts or
unpack that you know if you have any commentary. I don't know about all that but what I do know is that um
what has happened is that the um the whole reason for the migrant crisis initially began
under this theory that the birth rate is falling. So therefore they need more people to
come in because all these pension funds are on Ponzi schemes and
they only uh survive provided you're increasing generation by generation. When you start
getting in one generation declining versus the previous and there aren't enough taxpayers to pay off the previous
one. So that was the initial idea. Uh and then it has migrated to itself to
using these people. They think they're go they can um draft them into war against Russia.
Um, I can tell you I was on the phone with uh people from Romania and they were instructed, I'm not sure
what's in the news, the press yet, but I was told directly that um they were instructed to take a 100,000
migrants in uh from Middle East and and Africa. And so why you know what are these
people? No skills, nothing. Um don't even speak the language. Um basically just for soldiers
and I think it's a huge mistake. Um an example from history is the emperor of Allens.
um around 360 uh AD what happened was um you had uh the GS petitioning to come in because the Tilla
of the Hun was moving from Asia to to Europe. So they came in, the emperor thought,
"Okay, fine. I'll train them to be soldiers, build up my army to to go against the tilla, train them."
Everything else they said, "Oh, thank you." What did they do? They turned on the emperor, killed them in battle, uh,
and conquered it themselves. Um, I don't see these migrants actually willing to go die to defend
Europe from Russia. I I just don't see it. Um, and but look, they as you know, as I said, these
people just project onto others and they think that, okay, fine. I write a law and you're
going to have to obey it or else. Or else what? All right. Um, and you're not talking
about an individual. You're talking about they want in Romania, they want them taking 100,000.
That's a pretty good size army. Um, so I don't know. I mean I look
economically Europe is a basket case. Um the pensions are going to start um with serious
problems there. I warned them. Then they went to negative interest rates. You're striplining the pensions and the banks
because by law on average they have to have 70% government debt. So when you went negative, so you're now
extracting money out of the pension funds and you know, and you say this to these
people and it's like, oh yeah, I see what you're talking about. Yeah, that's interesting. That's it.
Um, and they kept it up for what, almost 10 years.
Didn't stimulate the economy at all. just allow government to grow higher and bigger and stronger. That's it.
>> Crazy. Crazy. Um, as it relates to I I wanted to um one of the things I've been bringing up
for those who who who watch the show um consistently, I'm I'm I'm very fascinated by power structures and
things of that nature. And and I know offline you you mentioned about how or I should say in the past that um a lot of
these uh politicians and such are not as um not as smart as as is portrayed and such, but you know people kind of behind
them. I um I mentioned about how I was watching a video on X. Some people have already heard of him, but Archbishop uh
Vagano who was excommunicated um by then Pope Francis I believe he mentioned about um the Clintons, John
Podesta, things of that nature. And you know, I'm I'm I'm bringing this up because as I try and go down the rabbit
hole, given the time that I have, I mean, not everyone has time like you and I to like kind of go down rabbit holes
and such, but I keep seeing the same consistent themes and it's it's just uh it's just very striking to me and um how
little attention it receives. And I can't believe that you had an Italian archbishop who who was how as high
ranking as he was mention about political figures, especially over in over in the States, uh being involved in
in trafficking and other nefarious activities. Um you know, I don't I don't know if you care to go down that rabbit
hole a little bit with me or or share your thoughts and things of that nature. >> I don't really know because I haven't
really looked at that whole piece of gate type thing. Um, all I can say is I know that there has
been this theory around for centuries that if you drink the blood or something of of someone younger that makes you
younger or something like that or transfuse the blood or whatever. Um, so I do know that that has existed
uh outside of this pizza gate thing. um are they um deranged enough to follow that to think that that you know will
pro prone their life? Who knows? I mean it's uh you know I think that uh
you take Kalash Schwab and this idea of of uh growing hearts and stuff like that,
you know, okay, mine's going to kick out, so so clone mine and give me a new one so I can live another 50 years or
something. Uh, I mean there are definitely people that are afraid to die.
Um, you know, I I uh and seem to go to whatever lengths they possibly can to do
so um to avoid it. But um as they say, that's life. you know, you know, if you're drinking
the blood of goats or young kids or whatever. I don't think that's really g going to change things. Uh I don't
particularly believe in that. Um I'm not sure I would I'd want to prolong here anyhow. I'm you know,
it's uh Scotty wants to beat me up. I'm I'm ready. I I think humanity is just what I see. It's just
we got the worst crop of world leaders ever in my entire life that I've ever witnessed.
I mean, he used to be thoughtful and but um
like I I've said before, I was part of the vetting process for people that wanted to be present. They would send me
in to explain how the world economy, how we're all connected really worked. And then 1999, I was asked to go
uh they said they wanted me to go meet with uh Bush Jr. They said fine. They said, "Oh, no, but this one's
different." I said, "What's different?" They said, "No, he's really stupid." And then they use those words.
And I said, "Excuse me?" Um, I said, "Why would you make somebody stupid president?"
Whereas before it was always, "Do you think he's smart enough?" Um, and they said, "Well, he's got the name,
so we can win." That was 99. They picked the cabinet.
I was even asked to to take chief economic advisor. I said, "No thanks. I'm not interested." Uh, and
so when Trump first came in, they did the same. Oh, you're not a politician. We have to
give confidence to the world that the government's going to be run properly. And he listened and they stuffed his
cabinet with everybody that stabbed him in the back. All right. this time. This is why he
picked his cabinet before he even got there. He They're not going to do this to me
again. This is the way the deep state controls things. Yeah, I've witnessed it myself.
It's um you know, they picked Dick Cheney. They he was really president. He decided to
take us into Iraq. Wasn't Bush. Um, I mean this is the this is what it is. That's the power. It's the deep state.
I think people are beginning to realize that more. But um it's the same thing taking out AFD people. It's the deep
state everywhere you go. The unelected bureaucrats when they created the the Euro zone, the
EU. Look at it. Ursula the president never stands for election. Google her. She's never even stood for election for
a dog catcher. Never. She's appointed. Okay. But they call this democracy. You have no right to vote. You didn't
put her in and you can't get rid of her. The people that make up the laws, the commission, unelected.
You elect a parliament for a dog and pony show, they have no power to create any
legislation. Look a little bit closer. They deliberately eliminated the ability of
the people to change government. That's what's so wrong about Europe. where I do, you know, you know, podcasts
from Sweden, Netherlands, all the way down to Palmo.
Three years ago, they would say, "You really think the EU is going to fall apart?" I go, "Absolutely."
And now I get, "When? We've had enough." Um, and you could see it. Um, it's all coming to a head.
I don't think the EU will last beyond um 2029, honestly. Uh, it's it's uh
it's a real problem. And it, you know, you they deliberately set it up so that the people have no
right to vote. Canadians are starting to get upset. Carney didn't stand for for
um who made Carney the head. He didn't run for that. The party appoints him.
People have had enough of this parliamentary nonsense. Um look at our election. All right. I
warned RFK's people. I said, "Look, my sources say they're not going to
allow him on the ticket." Oh, come on. They didn't allow him on the ticket. Then he had some sort of deep state
person on his staff giving him the that he could win independently.
I warned them. I said, "My computer says you don't stare at a prayer in hell of winning."
And I said, "You want to make a difference, you better join Trump because that's not
going to happen." And he joined Trump only after New York. He
was on the he applied to run as an independent and New York kicked him off the ballot.
Then he finally realized, okay, what I was warning was correct. This is not my opinion. I'm just telling
you what I know from direct sources. You know, I always try to, you know, the computer forecasts or the,
you know, you can look at on the system, you can see the arrays and when it's projecting turning points, etc. It's not
my opinion. You know, opinions are okay, but we all have, you know, good ones and bad ones
at times. You know, maybe we you had too much to drink the night before and you didn't look at everything in the
morning. You know, whatever. Um, uh, from a human standpoint, nobody's can be right 100% of the time.
So, um, try to eliminate that human factor as much as possible. And um I was at a dinner in Berlin before the
election and I and they were all the press said, you know, Trump was evil. No way he was going to
win. I said, "I'm sorry. My computer says he's going to win and it's going to be big time."
Really, every newspaper says wrong. I said, "Sorry, this is what it is." I said, "But I do
know one thing." I said, "He is a threat to the neocons, and I think they're going to try and assassinate him." Then
they really thought I was nuts. After that took place, I got a phone call. Holy you really do know these
people. I said, "Look, I've been to dinner with them." All right. When you look in your in
their eyes, you do not see a warm light. Um it it's just the way they are. And it,
you know, it's um you have to understand you cannot judge everybody by yourself. Just because you wouldn't do something
doesn't mean they wouldn't. Um you know, and they act out of their own character and experience and beliefs.
Um there was, you know, a famous thing in the Middle East.
um in North Africa when um basically when uh Patton went in and he got there and the Brits were taking
these Arabs and torturing them where the Nazis that and they wouldn't talk. He said, "Knock this stuff off. Get the
biggest pig. Bring the pig in here." Pig? What you want with the pig? Bring the pig in.
All right. said, "See the pig? I'm going to kill the pig. And if you don't tell me what I
want to know, going to kill you. I'm going to bury you in the pig's skin, and you're never
going to see Allah." Never had to touch anybody. You know, this is what you you have. You
fight with what somebody else believes, not what you believe. Um,
simple as that. You know, it's uh they let in all these migrants into Germany. You can Google it up. They raped over a
thousand girls on New Year's Eve. I think it was back in 17 or something. The government,
what did they do? Oh, we can't allow the press to say that this really happened. So, they told the police to change all
the reports from rape to assault. They will. Nobody in government, I'm telling you, will they ever ever admit a
mistake. I mean, I when I was young and I thought I could
make a difference, I found I could met with the Treasury back in ' 81 when Fulker raised the interest rates
up. And I said, "Guys, national debt's going to double by the
end of the decade because of these rates." They very calmly said to me, "Yeah,
Mario, but we'll be paying back with cheaper dollars." I said, "So, you know what you're doing
then?" Um, look, I mean, I learned from
my efforts in Washington, I can go in and say, "If we don't do this, 25 million people will die tomorrow."
Well, maybe you're wrong. They'd rather the 25 million people die and then vote for me. I'll get the guy
that did it. From their perspective, if I ran for office and I said, "Vote
for me because I saved your job." And you say, "Well, how do I know I would have lost it?" It's better you
lose your job than I say, "Vote for me. I'll get the guy that did it. That's politics.
I've learned, you know, I've been in advising governments around the world. They're all the same. Doesn't matter.
Uh, whatever they want to call themselves. Um, and Plato, he recorded a debate between
Socrates and Thrasamakus. And Thrasamakus was right. He said, "Justice is the same in every form of
government. It's only the self-interest of those in power." Nothing's changed in 2,000 years.
Wanted to ask you as it relates to um you know, you mentioned about obviously we're talking of course about people in
power and you mentioned about the deep state earlier. Um I had G. Edward Griffin on uh last episode and he
mentioned about you know politics kind of being like the WWE and that right there it's all theatrics and such and
and you've got to your point you know deep state actors and such. Um when you when you go down that rabbit hole you
hear of the uh trilateral commission you hear about the committee of 300 and and and other different groups and such.
What's your take on those? And uh well I just I'll just I'll just leave it at that. I would love to hear your take on
those. >> Um, look, I have a a tape on my site,
the former president of France, Holland, with Merkel, uh, in the European Parliament.
And he openly states that the whole purpose of the EU was to prevent European war.
It's this is that theory that one government will prevent prevent war. And I said
it's total BS. I said the Roman Empire was one government. How many civil wars did they
have? You know it people are people. All right. But you do have the this
deranged idea of if we conquer everything, control
everything, one government, and we'll bring peace to the world. Doesn't work. Sorry. Um,
the only reason Rome functioned and worked
was that um they didn't have socialism or anything of that nature. I mean they
had a a um like a welfare state for widows and orphans. Yes. But um what
as long as everybody benefits then the Roman Empire
um it was more beneficial to be in it rather than out. So somebody in France could make their
pots and sell them to somebody in Syria. Um peace is achieved not through control
and one government. No, peace is achieved basically through economic ties.
You want peace with Russia and China, you don't put sanctions on.
Okay. Um, we basically, as long as it's beneficial to the Russian people,
they're not going to want a leader that's going to say, "Okay, we're going to war." Well, what do you mean I'm
going to lose everything that I'm doing? Even during the American Civil War, all
right, um Lincoln decreed that if you owed money to somebody in the South, you weren't allowed to pay them.
Um this is you know what happens. All right. So um if there are economic ties
and that everybody benefits that's what creates the peace. Um,
look, I mean, this is why people that, you know, oh, DD
dollarization, they don't, they don't understand the world economy at all. Um,
US consumer accounts for nearly a third of all consumer spending in the world. Germany's got to sell its BMWs. Japan's
got to sell his Toyotas to Americans. Okay. Um, China is selling their EVs and stuff.
That's what creates the peace. That's what also allowed Germany and Japan to rise from the ashes.
Okay. uh it's economic ties, not welfare or anything of that nature. Uh that doesn't build an economy.
And I can tell you that Europe, the big problem Europe has, it's still using the merkantile system.
We make stuff, sell it to everybody else. But look at Germany. They keep their taxes at record highs. The average
net worth of a German is less than that of an Italian. They're so afraid of
inflation. All right? Yet they suppress their own people.
China has looked at the European model and the American model. What are they doing?
They're trying to to build a consumerbased economy. resurrect the Silk Road, etc. All right.
Unlike Europe, after all these tariffs and stuff that Trump is trying to knock down out of
Europe, um after World War II, they put on draconian tariffs to pre, you know, prevent
anybody from competing with, you know, with their industry that was just starting to rise again. So, they
protected them. you couldn't import anything. Um, so it got very very you know
draconian. Um, and that's basically the smooth holly you heard about in here with terrorist
United States that was a response to the absurd tariffs in Europe. Um,
the Democrats completely misrepresented it back then as well because Smoot and Holly were two
Republicans from agricultural states and um they were putting in
terrorists to protect the farmers because Europe was producing and saying it over
here and because it was basically subsidized, they were undercutting American farmers.
So that's what the whole terrorists were about. And they didn't come in until the summer of 1930 after the market had
already started to crash. But in the 32 elections, they stood up and said, "Oh, the Great
Depression was caused by the tariffs of the Republicans." Which is total nonsense.
um I don't know one economist um that would ever support that
that theory um about that they they came almost a year afterwards and um they were all in agriculture
the economy was already falling apart and in 1927 there was the first G4 where Europe came and talked the Fed
into lowering interest rates and hopefully to divert capital back to Europe
and um you know the stock market ended up rising dramatically.
Uh they raised interest rates, they doubled interest rates between 27 and 29.
Um it was just a real mess and um it was all over trade and trying to manipulate capital flows one way or
another. And uh like I say, read Herbert Hoover's memoirs from 1931 might open your eyes.
>> What are some other things that might um open open people's eyes up? things things that you know that perhaps you
haven't been able to to share or maybe you haven't been asked that would um you know really really alter people's uh
perception of of things. Now it's just research that I've done um things like
fallacy of uh interest rates down stock market up stuff like that. It's uh it's total BS really. Um interest
rates always go down. They went from 6% to 1% between 29 32. Didn't help the market.
Um just look at you know the the great recession 07 into '09. Interest rates declined didn't stop the market.
Where is it that interest rates decline is bullish? Um,
you read the newspapers for 429 when rates went up, it was seen as bullish.
Shows there's still a demand for money. If people aren't interested in borrowing, then the economy is going to
go down. And as simple as that. It's it's uh we've done a you know plot of these
things out. We we I've written a lot about it on different on our blog. But um
look, the the stock market has never peaked with the same level of interest rates
twice. Um the high in interest rates on New York Stock Exchange was $18.99 almost
200%. 1929 was six. Why? Okay. 1899 it was a panic in
Britain and they needed money. So the British were selling all the assets in America to take the money home.
So it was a capital outflow. So as the capital left, interest rates went higher.
1929 because of World War I. All the money was here.
Then you had the you know auto big boom was kind of like a the dot bubble of the 20s. So they were all participating in
that. So the money stayed here. So you had capital concentration in the United States.
Um, so interest rates went up the least because there was more money around here slushing around than there was in 1899.
So it's it's as I said at the beginning, you know, capital moves like a herd of wild animals. It moves from one sector
within an economy as well as between um countries. Um we hear it oh that you know the AI
bubble oh.com bubble and then then everybody will focus on just that one sector.
Um and they do the same thing internationally. wanted to also um ask you about um you
hear different pundits talk about um like agenda 2030, transhumanism, you know, depopulation,
um you know, a myriad of other things. Um any any comments on that?
Look, I I can tell you that uh the whole COVID scam stuff like that was for climate change.
I I had inside information that coming from the WF three months
before anybody even heard of the word COVID uh um phone calls were being made, get out of the markets, a virus is
coming. All right. Why the whole I I even have a a video I put
it on the blog a few few days ago from the WF. Oh, the world is silent. You know how
great these lockdowns really are. Pollution declined. They pulled it. I have a copy of it. All
right. Um, and it was said, "Tell us how nice it was to to be locked down." Yeah. Then they go, "Uh, this wasn't very
good." So, they pulled it from, but I have a copy of it. Um, look at what they achieved.
They successfully reduce the number of people that go to an office. It's why we have a commercial
real estate crisis. All right. Um, people are working remotely
and ended commuting. The other theory that they were pushing, the WF was pushing dramatically was 15
minute cities all for climate change. All right. Um, the COVID thing, um,
that was for climate change. you you don't lock down everybody. It doesn't work anyhow.
Um I had a respiratory issue. I was tested three times for COVID
negative. My daughter says, "You got to go to the hospital."
She got me an appointment with the pulmonary head of pulmonary at Tampa Hospital.
All right. I go in say, "Look, I don't know what it is. It's not CO. Um, the head of polar, you know what he said
to me? No, we still think you had CO. The tests aren't valid. Okay, thank you.
Um, you know, what are you going to do? I mean look this 2030 all this nonsense of
climate change um reducing the population you know
it's you can also Google it up in the New York Times all right um
former you know Supreme Court Justice Ginsburg she got to the Supreme Court when Ro
versus Wade was there and it's right in New York Times had nothing to do with women's rights. It
was all about eugenics, reducing the population. Um,
that was Planned Parenthood started by Bill Gates's father. Um, look, it's I disagree with this
stuff. you know, but them and the Rockefeller, this is what they believed.
Um, so Gates is, you know, you got videos of him reducing the population, all this stuff.
Uh, climate change, they really believe this nonsense. Um, climate has always changed.
You know, there were in 1772, and you can look this up,
that was the first discovery of a of a completely frozen animal in Siberia, right? It was a a wooi rhinoceros, which
are extinct. That is what really propelled the age of enlightenment
because they were finding animals, mammoths with still grass in their stomach.
So it was like, huh? What? You're eating breakfast and you're suddenly frozen like like that, you
know? It was so dramatic and so quick.
Um, how can there be grass on the ground, you're eating it, and then frozen
in a tundra? Um, so that's really what started the whole
enlightenment period that people were beginning to realize
that it's not linear. It's cyclical. All right? It could be ice age, then warming again, then back
to ice age again. And um so these people that promote climate change
um they're linear thinkers. I mean we had a politician down here in Florida because every once in a while
you get a um what we call red tide in the Gulf. It's really bacteria. and um
she's running for office. Vote for me. I'll eliminate red tide. Blames all the farmers and their
chemicals. I googled it. What was the first red tide reported? 1642 by the Spanish. I
think that was well before any farmers or chemicals were around. Uh but they always want to blame
humanity for it. We caused it as if the climate has never changed ever and but we're the the sole cause of it.
Um, the best that you can possibly get in cyclical analysis is that we may increase the amplitude
of a cycle, but we do not cause it. Um, if you killed every farmer and we all starve to death, there's still going
to be a red tide. Um there's still going to be ice ages, warming periods, whatever you want to
talk about. It's uh so most you look at the UN,
that big conference they had on climate change, look closely. They would not allow
anybody to speak that had a contrary view. one size, that's it. We're right. If you
agree with us, you can talk. If you don't, sorry, there's the door. So much for democracy, so much for
anything. Uh, free speech doesn't exist. You You go against their agenda, you're lucky you didn't commit suicide,
you know, >> spooky stuff. Um you know I I imagine that um you know
you know for the past 50 years basically you you've been um very much uh in into the world of of finance and and and and
politics and things of that nature. It's um it's really uh it's really I'm sure have had a an impact. I mean quite
literally. I mean you're you're in the career and such but also um perhaps things that weigh on you. Perhaps
there's things that that uh you don't feel comfortable sharing on camera. um h how do you um I guess uh you know escape
this so to speak? I mean I don't know if you care to share like you know how you I don't know if you play tennis or you
go on hikes. I mean h how do you kind of get away from this uh world because you're you're in it quite a bit. You're
you're talking about a lot of different shows etc. Uh I just have to deal with it. That's
about it. It's uh I I asked a friend in Washington. And I said, "Why does everybody call me?"
And he says, "Cuz you yell at them." And they they have a law
that if you accept any money from a government,
you have to register as an agent of that government. So
I can't take money from any government period, not even the US government because then it ruins my credibility on
the other side. Um, look back in in
um I try to reflect how the heck I even ended up here, but um and I think my father had taken the family to Europe
for the summer uh in 1964 and that taught me currency.
as we went from Sweden all the way down to Italy around France etc. Um and every time you cross the border you had
to change the currency. So I understood you know that taught me about currency
that taught me that um the currency of your home country is the way you think of value in your
head. Somebody would say, "Oh, it's quenchant to meloda." And I would look, "Okay,
fine. Convert that to dollars. All right, is it fair or is it not fair?" So, I had to learn, you know, it was you
couldn't, you didn't study any of this stuff in school. It was never taught
because we were under the fixed exchange rate of Breton Woods, whatever. Um, so I happened to have had a client, his
name was Walter Zangerly, who was a a senior VP at Franklin National Bank. And that was the first bank that failed
on a currency problem in 1974, just three years after Breton Woods collapse and the floating exchange rate started.
and he knew why I understood about currencies and he said, "Jay, would you come take a
look at this? I think it's got something to do with currency, but I'm not sure. The bank was the first failure on a 10%
move in the Italian lera. This was I think they were the 10th largest bank. I'm not sure. They were up there because
they this is the bank that started Mastercard. So after that because they never taught
this stuff in school um I would get any currency problem was like get hey get the guy that did that
you know the next thing I'm being dragged into everything when I reforming the G5
in 1985 I'm called up by you know the you know Washington um 87 crash I'm called in there for the presidential
commission because this car everything had to do with currency. Um so I was getting called in to
governments around the world. Got to meet Margaret Thatcher all currency. Um currency was very important to
politically. So I mean that was ende dragging me into governments everywhere the war.
We had a central bank in in Lebanon had asked if we could do a model in their currency
put it in the computer out came into country was going to fall apart in eight days. I thought there was something
wrong. I called him. I said, "There's got to be something wrong with this data."
And I told him what it said. He and very calmly. He said, "What currency does it recommend?"
I said, "Well, the Swiss Frank." Eight days later, the Civil War began. So, obviously, they saw the money moving
themselves. They only came to me for the timing, but I didn't know what the fundamentals were
going on. Same thing happened with a a client. Um, we had a client was probably one of the
biggest shippers in the Gulf and calls me on the phone. He says, "Iraq's going to start attacking shipping in the Gulf
tomorrow. Uh, what do you think gold's going to do?" I said, "Tell me a war's going to start tomorrow." Yeah. Yeah.
Yeah. Um, so by 98 I I had learned
from all these incidents and I stood up in in London at our conference. I said, "Look,
Russia's going to collapse." And I give it about 30 days. London Financial Times happened to have
snuck in the back of the room. They put it on the front page. Armstrong says Russia's going to collapse and we're
going to have nukes running around. You know, you know, it collapsed. That was long-term capital management crisis, all
this stuff. So, I've been dragged into all this around the
world. Even 97 Asian currency crisis, I was called in by the, you know, the central bank of
China. You know, it was um I went because I wanted to go see the Great Wall. You
know, it's all right. I thought I was gonna have to listen to some bureaucrats again. I got there. It was very
interesting. Um they had
sent these people to go work on the dealing desk in New York, London, and Tokyo, and then they went back to run
the bank. So when I got there, I thought I was going to meet a bunch of bureaucrats or
academics and I met traders. Um, so actually when I came back, the guys from the Treasury and the Fed
called and they said, "What was it like? You're the first one to ever go to, you know, the central bank of China." I
said, "Well," I said, "Very interesting." I said, "They only hire people with experience."
Um, I like to stick the knife in the back of an attorney, you know. Um, I've seen it all. Um, not something that I've
um set out. If you asked me if I would have ever wanted to go in this career path when I was in high school, I would
have said, "What are you crazy?" You know, uh, you know, my
old PA used to have one of those thick men on the on her desk and held a little sign, said, "Shit happens."
Very true. Um, I I've just seen it all. I How do I get
through it? I just I've gotten accustomed to it at this stage, I guess. Um,
and I had sat down for lunch with um, one of the
producers that did the movie from um, The Forecaster, Karen Steinberg. and we were in Munich
and she asked me um how can you advise on trillion dollar portfolios
and it was an interesting question because then I said huh I thought about it and I
said I just don't think about it I just
walk in. Yeah. Do this, that, the other. They move where other people
couldn't do it. They're so worried if they made a mistake, they might lose 100 billion or
something like that. And I said, I just don't think about it. It's this is what they this market's
going to move that way. I just not thinking about the amount of money. and she said to me
that um she had interviewed one of the top brain surgeons in Germany
and he retired. He quit and she interviewed him and she asked him why.
It really wasn't that old. And he said to her, "When I thought about what I was doing, that if I made
the slightest mistake, this person might not walk again or talk or whatever." He said, "I couldn't do it anymore."
And so I've been there, done that
with politicians, I noticed the same thing, and what made me notice it was actually
Trump. Back in March of 2020, I went to dinner at Mara Largo.
And he said he wanted to pull the troops out of Afghanistan. Fine. But it was the reason.
He said he was tired of writing letters to their parents that your son died for God in country. He said, "What are we
doing there? They've been fighting over borders for a thousand years. What difference are we
going to make?" was the first politician I had met many who ever
even thought about the people that died on the battlefield. Good friends with Maggie Thatcher
went to her house for Christmas dinners and stuff. I mean, and I realized it's the same thing with
me. But with them, they're told, "Don't think about
the people that die in war, otherwise you can't do it. We got to beat them. It's like a
football game. That's it. and everything else is just collateral damage.
So I hope I explained that so you understand it. Um I came to that realization when
Cameron forced me to say how can you do this and granted nobody else was doing you
know for portfolios of that that size. Um even when I was called into the 87 crash
you know talking to this you know academic and I said do you understand what makes
markets move? Oh I teach finance. I said very nice. At the time US national debt was six
trillion. He said I have three trillion under contract.
I think I know how capitals um you know it I mean now you're talking about you know
it you're you're into you know 2030 trillion dollar stuff I mean it's just um
astronomical it it people would says, "How can you do it?"
It's just phone numbers. You cannot visualize it. All right? It would be funny. You would
be trading and say, "Yeah, buy me a billion of this." Then you go out to dinner at 600 bucks.
It it's it we would just say it's just phone numbers. You can't even visualize it.
Uh what it's worth, what what would it buy? Most people don't realize they go, "Oh,
he's a billionaire." You can't spend that kind of money. Okay? All you can do at that level
is use it to bribe people to do what's something you want. That's Bill Gates and Soros.
Can't spend it. There's nothing you can possibly buy, you know.
um think the highest um valued house is like a hundred
million and there's only one of them in the country. I mean what are you going to
do? So it's a it's just phone numbers. So when you get it's at that level of of
money, it's um you cannot visualize it and it's for
power. That's all. Now you mentioned Bill Gates. Would you say he's evil?
>> I don't know. depends what your definition of evil is but um
he is indoctrinated into his father's thinking which I think comes this from mouthus
um in the 18th century his problem was that
granted he was corrected population will increase. His theory was that it will increase
beyond what we can afford to feed it. What he did not understand was that there's a cycle in production
of food as well. So once the uh combustion engine came into play and you had tractors,
okay, fertilizers, all of a sudden the production of food dramatically increases.
So I think the Rockefeller Foundation, Gates, I think they were all trapped into this
idea that that mouses put out to begin with in the 18th century.
Um, and I totally disagree with him. Um, I would say my opinion is that
besides his population ideas and reducing that, um,
I believe he is, uh, his character tells him always to become
a monopoly. um he had to step down from heading Microsoft because that's what
you know he would target companies like Netscape um any competitor you know target them
to create a monopoly basically and so then to stop Microsoft from being broken up you had to step down
we want him Look what he's done in vaccines. Same thing.
He's into every company. This is his. He's got the money
and he uses it for power. Soros, the same nonsense. It's uh um
he ended up being indoctrinated I think by uh a professor popper at at the London School of Economics.
Again, you know, obviously not so um brilliant in my opinion. if he was smart enough he would realize the
popper was wrong. um still tries to create this open society
merging all the races together and sorry there's different you know this is the theory behind Europe
why it's failing um they're changing people's culture their religions
um you can't do this that's what communism was it was anti- relligion. We're going to make everybody a drone.
You have no um forget your individualism um your any personal aspirations. Put in the rubbish spin here. You're
next in line. We need somebody to sweep the floor. Here's a broom. That That's communism.
Um when I went to China um I was taken off to another facility
to help them become capitalist and was very very interesting. Um they were monitoring 249 varieties of
tea. They were not interfering. They were just tracking everything
though. And so I was taken in and um the questions that was being why is this
tea selling uh for like a dollar here but $5 over there? I said well where does it come from? Well here. I said
first you have transportation costs. I go oh okay. Um, I said, "Then somebody will pay more
for this tea versus that tea if they like it more." Oh, really? I mean, it it was fascinating to
be in that position. I actually saw why communism failed. They had no understanding
of human preference. I like this tea more than that tea. Um, and under communism,
that tea that was a dollar here has to be a dollar over there, even if it cost you 10 bucks to get it there.
Totally inefficient. Um but all this comes from
the same propaganda of Marx and socialism. Um oh equality you as soon as you hear
that word be careful because equality means you have to surrender your individualism for somebody else. Um
and I mean I've heard somebody say even about um
you know transgenderism you know whereas that is their personal issue fine but then everybody else has
to accept by force whatever that is. Um, you know, it it's
like pushing it in schools and stuff. I mean, you're going too far,
you know, when I can't call my mother mother. Oh, she's a birthing machine because it might offend somebody else on
the other side of the country. I mean, sorry. Um, now you're interfering in my side.
And and that's typical in any socialistic system under Marx equality. Everybody's got to be the
same. Doesn't work that way. Sorry. Yeah. That um
it sounds good in theory. Um and that's what I'm realizing is is a lot of things sound sound uh sound good but are are
not are not practical. Um, Martin, anything else you'd like to dispense? Actually, you know what? I want to ask
you one more thing. Kind of unrelated to the whole economics and politics and all that, but I'm really curious.
I'll let you go here. Um, the UAP phenomena you hear about, it started off, you know, very fringe. No, you
know, no one would talk about it. You know, you're an oddball if you if you went down that rabbit hole. I think of
John Mack and some of these other people. Now, we hear about it in Congress. You know, these Navy
whistleblowers, this and that. what what's your assessment of of this uh topic?
>> Um pretty much the same. I mean I think that um
all this stuff it's u um people come up with these ideas and then they try to force them on
everybody else and uh it just doesn't work that way. uh it it's um
I don't know I think that that um we have to understand that it it's
we are individuals and you don't want to pay me $30 million a
year to throw the you know a football and and the Super Bowl you um or stand up and sing at a concert or
I mean we all have different talents. Um so I mean all these
ideas that somebody comes up with in these fringe different areas. Um I don't know. I I just
I just see the same pattern over and over and over again. Uh you can change the subject matter.
Um, you know, there was uh Ro Lynch had a couple of guys,
young young guys, and they were selling um they devised oh, absolute foolproof way to increase the percentage profits
in your portfolio. and they're running around. And what they said was, "Okay, fine."
So, we buy 30-year bonds, we short the 10 years against them, we take this the split
between the interest and add that to your to your portfolio, and you can increase your um
the yield in your portfolio. It all blew up. you know, Orange County went bankrupt, etc. But I was adviser to
Temple University at the time. And they were running around to these universities pitching this new way to
make money. And the chairman said they had to go sell it to me and if I approved then
university would do it. So they came in, sat down with them and they went over. for us guys,
it's going to blow up. Oh, why would you say that? Cuz cuz interest rates are going to go up, not
down. And as they blow up, you're going to get a negative yield out of this. And oh, no, you're you know, I said,
really, I'm wrong? Sorry. I cannot advise the university to put their, you know, trust funds in
this. Um, they left. They went back to him. Their German said that I was too old.
This is my 1980s. I'm too old to know the new way to make money.
And Dick said to him, "Well, it was he was at least 10 or 15 years older than me." He says, "Well, if he's too old,
then I'm ancient." He kicked him out and then blew up. But I've seen the same scheme over and over
and over again. I can't tell you how many times. Um, the instruments change.
All right. I've been called into, oh, we borrowing Swiss Franks and that will lower your interest on your
mortgage. Blew up in Australia. They blew up in Europe. Uh they were borrowing on and I met with the Swiss
bank. I said the peg is going to break. I said, "Look, oh well, we think we can hold it." I
said, "Really?" I said, "History's on my side. Not one country's ever been able to successfully
do this. Academics in charge. No, we think we can." It blew up.
Then all the banks finding mortgages failing etc. Why? Because the bank said, "Oh, look, we can give you a loan in
Swiss Franks, okay? And we'll save you interest." So they did this and then the Swiss Frank
on the FX markets blows out. Suddenly you owe 20% more in your mortgage than what it was uh because of currency. Same
things happen in China. Um, you can Google it up. Most of these emerging markets just look at, you know,
about 70% borrowing dollars, so they can sell it. So, it's um I've just seen the same
thing over and over and over again. It's It's like watching the same movie 20 times, you know. Um, it gets to be bit
boring for me. So maybe that also explains why it's like yeah okay fine I know what will happen so it doesn't
bother me anymore. It's like, yeah, okay, you know, I don't know. Um, I just been there, done that, seen it so many
times. It's, uh, what Europe's doing right now going to blow up. Um, humanity, I think,
um, why cycles exist in history repeats is that each generation has to make the same
mistake. Um, nobody looks back to see what was the outcome before.
Every major crisis, somebody steps up at these committees, oh, this is what we'll do. Never have I ever heard
in at least 50 years of dealing with this, a simple question. Has anybody tried this before? Did it work?
Never. Not one commission has ever done that. When I got when I got called into the
87, he said, "Oh, we're going to find the guy that shed this market and force it down." I said, "Excuse me.
Do you realize that every investigation since 1907 began with those words and nobody's ever been found?"
Hello. You know, then you get the the crazy is the oh, we should outlaw short selling.
Really, it's the short who provides the support in the panic. He's the only one has the courage to buy.
Everybody else is going, "Oh my god, they're not going to buy until at least hits bottom."
Uh, it's just I don't know. Sometimes it gets frustrating for me because I feel like
it goes, you know, I warn them, they don't do it. And it's like, you know, yeah, what do
you want me to say? You know, been there, done that, watched this so many times.
You all make the same mistake because and ironically
we learn individually from our mistakes. But you are in some big portfolio or politics or whatever. You make that
mistake, you're fired. They bring in the next guy. Next guy never made that mistake.
So, he's going to make it again in the future. That's it. Whereas the other guys going to go, "Hey, you know, I
don't know. This smells like the last time." Um, in my younger days, there would always
be the guy in in the corner of the trading room and go, "Ah, this just like 1929, you know, and you look at him,
really?" you know. Um so it's been an interesting ride. Um
been there, done that. I certainly have had a front row seat. Um
you have definitely been there. Oh, I was just going to say you you you've been there, done that. Got the t-shirt,
Martin. Yeah. Um >> well um how can people learn more about
you and get in touch with you, Martin? >> Um you can go to our site. It's armstrongeconomics.com.
You don't have to put in any emails or anything. Uh we try to keep it open. We don't sell advertising. Uh we try and
keep it open for the world. We're not blocked anywhere. They can look at it in Russia. They can look at it in China. Uh
we even have offices in China. Um so we try to keep it open source for
everybody to look at. Um um you know, so they can at least get to
see something that's not all biased based upon uh personal opinions or agendas or whatever. Um,
I'll cheer Trump on something that's good and I'll say, "No, sorry. I disagree with him on something that he
didn't." You know, you can't be just You can't be partisan. >> Absolutely. Absolutely. Well, uh,
Martin, I I, uh, as always, I appreciate your time and looking forward to having you on, uh, before long.
>> Well, thanks a lot. Take care of yourself out there. >> I appreciate it.
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