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In 1959, Europe restored monetary sanity convertibility, but the US started running large balance of payments deficits. Bretton Woods established a system where all currencies were convertible to the dollar and the dollar to gold. However, instead of settling deficits in gold, foreign central banks could use dollars as official reserves. This allowed the US to buy abroad and at home simultaneously, leading to a buildup of dollar reserves. In 1971, when countries like Britain wanted to redeem their dollar reserves for gold, President Nixon refused. Without convertibility, Europe couldn't lecture the US about its budget. The 1960s saw financial crises involving the dollar, and in 1971, Nixon declared that the US wouldn't pay its debts in gold.

Speaker: The thing that makes the current system what they would call slavery is debt-based and secrecy. And the failure of their elected representatives to require, you know, to get obey the law. So you have lawlessness, you have debt-based, and you have secrecy. The problem is not that the currency is fiat. Because if you go back through history, if you read Alexander Del Mar, the most effective currencies in the world are fiat currencies that are well governed. We have a debt-based fiat currency that is not well governed in my opinion, but it could be. Now remember, there has been almost no support in the general population for managing it responsibly. Everybody was like, no. Don’t manage it responsibly. Get me my check. And if that means you’re irresponsible, that’s okay. I want my check. But you are not gonna fix this situation by going to gold and silver. You’re gonna make it much worse. Because while we’ve done this sort of hear no evil, see no evil, you know, speak no evil for thirty years, the central bankers have accumulated all the gold. So now that they have all the gold, you’re gonna tell me we’re gonna go to a gold system? Are you out of your mind? Because now they’ve got the gold. And if you start a gold transaction system, now you need gold from them, and they’ve got you over a barrel. Right? And what are you gonna do to get gold? You’re gonna have to sell your land. You’re gonna have to sell your kids. You’re gonna have to sell real assets to get their gold. Right? Why would you do that? Why would you create, you know, you’re dependent on your enemy now. You’re gonna increase your dependency on your enemy now? You’re out of your mind. Okay. That’s not a sound money system, especially because they wanna make it digital. And so they’re gonna have fiat gold, which is even— I mean, if you think fiat is bad, where do you see fiat gold when they own all the gold? So, what we want is we want a fiat system, and we want it with, you know, lawful and no secrecy or minimal secrecy. You’re gonna have to have some secrecy and a good governance system. Can we get there? Of course, we can get there. But we can’t get there if you have an entire population that is absolutely committed to corrupt short-term behavior.

The creation of new dollars has led to a higher cost for gold and a depletion of our gold reserves. Congress allows this because they prioritize spending, often resulting in Americans working over half the year just to support government expenses. With limited options to raise taxes, Congress resorts to borrowing and creating money out of thin air. This process involves issuing treasury bills to the Federal Reserve, which can generate billions instantly. Such actions debase the currency, affecting its value and altering interest rates, ultimately harming the economy and living standards. The responsibility lies not only with the Federal Reserve but also with Congress, which drives this monetary manipulation.

Bretton Woods emerged during wartime when the United States leveraged its position to shape a new monetary system centered on the US dollar. At the Bretton Woods Conference, 44 states signed off on a treaty that bound postwar nations to using the dollar as the principal currency for world settlements, with the dollar fixed to gold at 35 dollars per ounce. This Gold-vanilla dollar standard created confidence that every dollar was worth a specific amount of gold, effectively anchoring global finance to gold and supporting widespread use of the dollar. The arrangement worked reasonably well for a period, but the United States’ domestic and foreign actions—driven by frequent wars and large domestic spending—made fiscal conditions unstable. By the 1970s, the US was engaged in Vietnam and expanding welfare, Medicare, and other social reforms alongside massive infrastructure spending, which generated substantial debt. As debt grew, other countries questioned the productivity of that spending and began to worry about accumulating more debt. France, Italy, Germany, and Britain sought gold in exchange for surplus dollars. The US sometimes accepted, but not uniformly; notably, the governor of the German Bundesbank committed never to ask for gold again, while other nations pressed for gold or alternatives. The system’s stability eroded as countries contemplated how to avoid reliance on the dollar. In 1971, Richard Nixon unilaterally suspended the exchange of dollars for gold, after weekend discussions with advisers, effectively ending the gold convertibility of the dollar and establishing fiat currencies not fixed to gold or to the dollar. The transition produced a volatile period with few established foreign exchange mechanisms, leaving the world in a more unsettled monetary environment. To stabilize the system, Henry Kissinger and Treasury officials pursued a new anchor by tying the dollar to a globally demanded commodity: oil. The idea was that oil would create sustained demand for the dollar. Following this, the United States and allied nations promoted the policy that oil would be sold in dollars, and many Middle Eastern producers aligned with this arrangement. Leaders of some oil-producing countries faced severe consequences for resisting the dollar-based system: for example, Saddam Hussein and Muammar Gaddafi sought to sell oil in currencies other than the dollar and faced significant repercussions, including their deaths and the occupation of oilfields by American forces when necessary. This dollar-oil linkage functioned as a mechanism to stabilize the post-gold monetary order but drew increasing criticism for coercive and violent measures to maintain the system, contributing to growing global interest in moving away from dollar dependence.

America is trying to change the rules in the gold and cryptocurrency markets. They note a 35 trillion dollar debt and describe it as part of the world’s two alternative currency market segments. Washington’s actions in this direction clearly demonstrate one of the main American objectives: they want to solve the problem of declining trust in the U.S. dollar, as it was in the 1930s and the 1970s, by solving their financial problems at the expense of the world and driving everyone into the crypto cloud. Over time, when part of the U.S. national debt is placed in stablecoins, the United States will devalue that debt. In simple terms: they have a 35-trillion-dollar debt, they are pushing it into crypto, into the cloud, they are devaluing it, and they are starting from scratch. This is for those who are enthusiastic about crypto.

Speaker 0 raises the question of remonetizing gold, asking if the administration could do it through a gold-backed treasury instrument as Judy Shelton suggests, or by marking gold to market at 2,900 an ounce on the balance sheet. Speaker 1 says gold should be returned to the people. He recalls asking Bernanke in committee, “Is gold money? Do you think gold is money?” Bernanke replied, “No. It’s not money. It’s an asset.” He notes that central banks hold gold as a form of reserves, not because it is money, and compares it to diamonds or a tradition that some still regard as money. He asks why the central bank owns it and why they are buying it if it’s not money. He adds that the founders understood this, and mentions problems with the continental dollar and runaway inflation. The evidence, he says, is strong, yet it serves special interests rather than the common person, middle class, or the poor, who are affected when money is printed. He reflects on the 1960s warnings from economists about Bretton Woods and the inability to sustain it as printing continued. The day that hit him most was August 15, 1971, when they decided the United States was broke, that money was no longer honored, and that foreigners holding dollars would not be reimbursed with gold. This marked a big issue and ushered in a new age of monetary policy. He explains that there are no restraints on spending and deficits, that both parties are involved and given license to wars and runaway welfare, and that corruption could grow in the justice department, harming the people. He notes that gold reaching $3,000 would still be shocking, and while he might have expected higher since 1971, it remains surprising. He believes the current system is over and something has to happen. He warns that the question of timing is uncertain; any time could be the moment, though it may not be tomorrow. He anticipates continued price inflation and more trouble within the country because a system that distorts wealth distributes it unfairly—wealthy people become richer, the poor poorer, and the middle class wiped out. He observes the middle class has been conditioned by the economic and educational system, with average people saying they need money and asking for checks, noting that money created “out of thin air” is the real problem, leading to distortion and a political tragedy where the rich get richer and the people get angrier.

"the dollars, days as the reserve currency are numbered." "we shortened that number ourselves with a self inflicted wound when Biden announced those crippling sanctions or hope they were intended to be crippling against, Russia." This sent "a strong message to the world that you don't want to hold dollars, that you don't wanna have the US dollar and US treasuries as your reserves because, you know, you run the risk of being punished by the US government." "And so we told the world, get rid of dollars and buy gold, and that's exactly what they've been doing." "That's why the of gold is at an all time record high, you know, despite the fact that retail investors have been selling gold all year." "Gold keeps going up, setting one record after another." "Gold is on pace for its best year since 1979." "That is not a coincidence."

In 2011, economist Kyle Bass interviewed a senior member of the Obama administration about their plans for the US economy and trade deficit. When asked about US exports and wages, the official responded with just seven words: "We're just going to kill the dollar." This statement holds the key to understanding everything that has been happening domestically and globally. It renders all other questions irrelevant and provides an explanation for all economic matters. Take a moment to reflect on the implications of this statement.

The Federal Reserve and the government incorrectly call paper currency "base money," but it is actually base currency because it is not money. Money must be a store of value and maintain its purchasing power. Historically, paper currency represented real money like gold and silver held at the treasury, redeemable at any bank. Now, base currency is a receipt or claim check on a bond IOU.

We are at a decision-making point and very close to a recession, but something worse than a recession is possible if things aren't handled well. The monetary order is breaking down because we cannot spend the amounts of money we are spending. This issue is connected to the dollar and tariffs. Profound changes are occurring in our domestic order and the world order. These times are very much like the 1930s.

First speaker outlines that 1914, the year the Federal Reserve was created, coincides with the institution of the income tax, and argues these two developments are parts of the same tool. Since 1971, he says, every ill in society has expanded, and now the fruits of that system have come home to roost. He asserts the money system enables certain forces to enact their will without accountability, describing fiat money as giving those forces carte blanche to decide what money is and how much there is. He contends money is at the heart of many problems, alongside the spiritual realm, and emphasizes a strong connection between money and moral/spiritual forces, calling it a dangerous master. Second speaker asks what the US government prices its own gold at, noting that the US is the biggest gold holder. First speaker answers: $42.22 per ounce, which is far below market price (around $3,000). Second speaker asks how that discrepancy is possible. First speaker explains the Fed can choose how to value its assets, either marking to market or to cost, highlighting the Fed’s power to revalue assets on its books. He notes reports that the Fed’s balance sheet has been underwater on paper at times, and that gold on the Fed’s balance sheet can serve as an ace to revalue the balance sheet if needed. He describes it as “magic.” They discuss whether one could buy gold from the US government at $42, and acknowledge people watch the Fed’s balance sheet and market-to-market data. First speaker references James Rickards and his book The Death of Money, noting that the Fed could mark assets to market but not necessarily revalue gold, which could be used to rebalance the balance sheet. They contemplate what would happen to gold prices if the US held enough gold to back a new standard; under a 40% reserve ratio, gold price might range widely to restore a 1:1 parity with the Chinese yuan, possibly between $20,040 and $40,000 per ounce, depending on the balance sheet and reserves. Luke Groman is cited as saying achieving 1:1 parity with the yuan would require about $22,000 per ounce of gold, assuming the claimed gold stock is accurate. First speaker explains that achieving a gold-backed standard could force a reality-based discipline: a revaluation could alter international currency dynamics, reduce the ability to wage wars funded by fiat money, and end hollowing out of the industrial base and unchecked globalism. He argues that a return to an honest money standard would impose norms and transparency, forcing currency and national commitments to be truthful. Second speaker adds that lying is evil, and a society lacking truth is deeply problematic. He closes by expressing gratitude for the discussion and hope that their efforts chip away at the issue.

The year was 1871, and while the events of this year have been purposefully hidden from the masses, 1871 must never be forgotten. Much like Vatican City and the City Of London, Washington, D. C. Has its own sovereignty. Basically, D.C., City Of London, and Vatican City are totally separate territories from the nations in which they reside. Vatican City is technically enclaved within Rome, outfitted with its own special police force and political structure, the same way the City Of London is situated within the city called London, and it has its own flag, crest, police force, ceremonial armed forces, and a mayor. And sure, there are states within The United States that have their own constitution and distinctive flags, but I think most people you'd ask would know that Washington, D. C. Isn't a state. Most folks would tell you that Washington, D. C. Is where our laws are made, where our politicians congregate, and where our White House resides. But on the D. C. Flag, which is said to have been reflective of George Washington's coat of arms, there are three stars. And I wonder, are those stars representative of the three city states that exist as corporate entities outside of their respective nations? Vatican City, the religious hub, the city of London, the banking central, and Washington, D. C, the military leg of the empire. Being its own city state, DC has its own police force that shares a direct link with Congress, its own mayor, and its own set of laws. But our founding father certainly didn't set it up like this. So how did it come to be? The year was 1871. The US was going through a lot of turmoil. The nation was bankrupt and vulnerable after the civil war, and the London bankers, which included the notorious Rothschild family, were ready to make a deal with congress to remedy that turmoil. Turmoil, I might add, that is suspected that the bankers had a hand in creating in the first place. At any rate, these bankers made a lot of credit available in the aftermath of the civil war as a means to, one, fight Lincoln's greenback after he was murdered, with some theorizing that part of the motivation for his assassination came from his push to privatize the monetary system. The second reason that the bankers made so much credit available was to collect on the interest from those who desperately needed the money, which would be the United States government at the time. Now, this was nothing new, this was practice as old as time. Well, as old as Mystery Babylon. Not much has really changed since the days of Babylon, not the usury, not the debt slavery, not even the iconography. Passed by Congress, the Act of 1871 provided a government for the 10 mile parcel of land known as the District Of Columbia, allowing Washington, D. C. To act as a corporation outside of the original Constitution of The United States. So, okay, why does the Washington, D. C. Constitution have nothing to do with The United States constitution? Why exactly is Washington, D. C. Totally separate from the rest of The United States? Why does it need to be separate from The United States, as a separate territory at the epicenter of the Virgin Mary, tucked right between Virginia and Maryland? The Act of 1871 changed our country's founding fathers' original constitution for The United States for America to the constitution of The United States Of America. If you blink, you might miss it because it's a mixture of impactful wording and some weird capitalization thrown in there that pretty means nothing to the average person upon initial inspection. But these subtle changes are a huge deal in the realm of legislation. Compounded with these minor changes was clever marketing of the act as a way to unify the territorial government for the entire District of Columbia. The aforementioned are contributing factors as to how such a major act flew under the radar, ultimately overturning the United States Constitutional Republic. Since 1871, the federal government has usurped nearly all of the power that was formerly held in the hands of the people. But how on earth was Congress able to pass a separate constitution and incorporate The United States? A bunch of attorneys have contacted me about this subject, explaining it to me, thank you for everyone who's done that, but let me break it down to you in a way that won't make you just totally fall asleep. A corporation, by definition, is a legal entity from its owners. A corporation protects its owners from personal liability for corporate debts and obligations within limits. So was the Act of 1871 as harmless as some claim just an act to provide a government for the District Of Columbia and nothing more? We can answer that question by simply stepping back and taking a look at the dominoes that fell after this act was passed, and asking the question: Who benefited from this piece of legislation? Is the Act of 1871 the reason why Congress passed the sixteenth amendment, which allowed the federal government to tax individual personal income regardless of state population? Is the Act of 1871 the reason why the Federal Reserve Act of 1913 was passed, handing over America's gold and silver reserves and ultimately the total control of America's economy to the Federal Reserve Bank. Think about it. A private corporation established their private bank, acting as the central bank of The United States, But it isn't even a government institution, but a privately owned banking system. Is it a coincidence that social security numbers started being assigned in 1935, social security numbers being the nine digit numbers given to every U. S. Citizen, and used for income tracking and taxation purposes. Ultimately, individual income taxes have been the primary source of revenue for the U. S. Federal government since the 1950s. These moves make a lot of sense when examined through the lens of The United States as a corporation and its citizens as employees, a corporate government asset before they even go through puberty. But still, throughout all this time, there was a promise that the American dollar was actually worth something. Something tangible, not just the confidence to exchange it for goods and services. A dollar was worth one thirty fifth an ounce of gold. But then President Richard Nixon came along and screwed that up for us. Severing the final link between the dollar and gold in 1971. In other words, he took the dollar off the gold standard once and for all. Steadily, the purchasing power of the dollar has declined while federal and consumer debt has increased. Currently, we're witnessing the culmination of all of these decisions, and it ain't pretty. We're one bad flu season removed from Weimar Republic wheelbarrow money. So who would you say benefited from the Act of 1871? The average US citizen, or the bankers who incorporated The United States, who have been buying politicians ever since? The same Federal Reserve who serves absolutely no real function except stealing the purchasing power of your sixty plus hour work week and then redistributing those funds to destroy your rights and enslave you on your own soil. Hey, just like they did back in Babylon. It's the same folks using the same debt slavery system, time after time. When will we learn that debt with interest is a system of perpetual debt, and is continually passed on to the people beneath, until until the debt gap consumes all but those who own the debt? Well, like I said in the beginning of this video, the most pivotal year in United States history was never taught to me in schoolpublic or privateand never taught to me at a college level. But as Americans, it's so important that we not let this information die with our generation. One of the most important lessons you can teach your children is how to obtain their own freedomhow to identify when their freedoms are being taken from them, and how to demand those personal freedoms and liberties back, instead of waiting around for a hero in the form of a politician to represent them, to offer solutions. During this time, we've seen people of all ages crying out for change. And instead of focusing on the changes we could make that could fundamentally change The United States for the better, especially on an individual level, politicians are selling socialism and communism, aka more government control, to young people looking for an answer. And they beg for it because the future seems so bleak. Whether you play with paper or with digital money, the future will always be bleak if you're a debt slave. If before your foot even touches this earth, you're scanned into the system as an employee of this corporation who does not care about you one bit. The United States is still a great country, but it has its problems, and you know you can riot and loot and protest protest all all you you want. Want, But until the Federal Reserve is ended, until the Act of 1871 is torn into a thousand pieces and thrown into the wind, until the IRS is abolished, and until we move back to the gold standard, we have no chance at experiencing any iota of freedom.

During Abraham Lincoln's presidency, European monarchy agents instigated a rift between the North and South, creating a banker's war. Lincoln, denied reasonable loans from European banks, issued interest-free, debt-free money called greenbacks, based on the American people's credit, not silver or gold. The London Times warned that if this policy persisted, the U.S. would become prosperous, attracting global wealth and threatening monarchies. Bankers understood that sovereign governments printing debt-free money would break their power. A decade after the Civil War, greenbacks were worth as much as gold. The speaker claims Trump moved the Federal Reserve back under Treasury authority. The speaker also claims the Queen of England defers to the Mayor of London annually because the bankers control world governments through money from the City of London. These bankers, representing royal bloodlines, rule by right of blood.

The speaker discusses the impact of the global economy on the US dollar and its need to be backed by tangible assets. They mention that international financiers are gradually losing faith in the dollar as the world's reserve currency, leading to its depreciation. To maintain its status, the US is turning to its European colonies for tangible assets since they are losing their African and Latin American colonies. The speaker expresses concern about this surreal and submissive cycle.

The speaker argues that "the dollars, days as the reserve currency are numbered" and claims this was worsened by "a self inflicted wound when Biden announced those crippling sanctions or hope they were intended to be crippling against, Russia." This, they say, sent a strong message that "you don't want to hold dollars, that you don't wanna have the US dollar and US treasuries as your reserves because, you know, you run the risk of being punished by the US government." "If you do something that the US government doesn't approve of, you could be sanctioned, and you may lose, those reserves at a time when you really need them." Consequently, "And so we told the world, get rid of dollars and buy gold, and that's exactly what they've been doing." They note "that's why the of gold is at an all time record high, you know, despite the fact that retail investors have been selling gold all year." "Gold keeps going up, setting one record after another." "Gold is on pace for its best year since 1979." "That is not a coincidence."

Larry Johnson and Glenn discuss the shifting dynamics of the US dollar, the international financial system, and the rise of competing powers. - Johnson recalls the 1965 term exorbitant privilege describing the US dollar’s reserve-currency advantages. In 1971, the US closed the gold window, ending fixed gold value for the dollar; the dollar later became backed by “our promise,” enabling the petrodollar system as oil purchases were conducted in dollars. The dollar’s dominance rested on predictability, a stable legal system, and non-abusive use of the dollar as an economic tool rather than a political weapon. - Trump-era sanctions expanded broadly, impacting friends and adversaries alike, and BRICS nations began moving away from the dollar. Russia’s disconnection from SWIFT after its 2022 actions is noted as a turning point that encouraged the BRICS’ development of alternative financial infrastructure, including China’s cross-border interbank payment system (CIPS). This shift accelerates the decline of the dollar’s dominance. - Nations like Russia and China (and India, Brazil) are unloading US Treasuries and increasing gold and silver holdings. This is tied to concerns about the dollar’s reliability and the reduced faith in paper promises. The BRICS countries reportedly plan a currency tied to gold, with components of their reserves backing individual BRICS currencies, signaling a structural move away from the dollar. - The paper-gold issue is central: for every ounce of real gold, there is a range of 20-to-1 to 100-to-1 in paper gold. This disparity can undermine trust in the paper promise and create a run on physical gold. The price gap between New York (lower) and Shanghai (higher) for gold demonstrates a market dislocation and growing demand for physical metal. - Glenn emphasizes that a unipolar dollar system allows the US to run large deficits via inflation, which acts as a hidden tax on global dollar holders. Weaponizing the dollar through sanctions challenges trust and accelerates decoupling, prompting other nations to seek alternatives to reduce exposure. - Johnson argues that the US is confronting a historic realignment: the Bretton Woods order is dissolving, the dollar’s international dominance is waning, and sanctions and coercive policies are provoking pushback. He highlights Japan as a major remaining dollar treasuries holder that is now offloading, further increasing dollar supply and depressing its value. - The geopolitical implications are significant. Johnson warns that potential US actions against Iran—given their strategic position and the Gulf oil supply—could trigger a severe global disruption, including a price surge in oil. He notes that such actions would complicate global stability and magnify inflationary pressures. - The discussion also covers NATO’s cohesion, Western attempts to shape global alignments, and how rapidly shifting leverage could undermine existing alliances. Johnson suggests that Russia’s strategic gains in the war in Ukraine, combined with Western missteps, may prompt a rapid reevaluation of settlements and borders, while also noting that Russia’s position has hardened. - On Venezuela, Johnson argues that the stated pretexts (drug trafficking, oil control) were questionable and points to economic motives, including revenue opportunities for political allies like Paul Singer, and to Greenland’s strategic interests as possible motivators for US actions. - Looking ahead, Johnson predicts hyperinflation for the United States as the dollar loses value globally, while gold and silver retain value. He asserts that the ruble and yuan may hold value better, and that a mass shift toward de-dollarization is likely to continue, potentially culminating in a new multipolar financial order. - Both speakers agree that trust and predictability are crucial; the current trajectory—threats, sanctions, and unilateral actions—undermines trust and accelerates the move toward alternative currencies and stronger physical-commodity holdings. The overall tone is that a pivotal, watershed moment is unfolding in the global monetary system.

Jekyll Island, November 1910. Seven bankers meeting in secret to create America's central bank. We just can't call it that. We'll create money from nothing, loan it to the government, and charge interest. Every dollar we print steals value from existing dollars. If we ever get off the gold standard, governments can print money for wars. Endless wars become possible and profitable. Since Americans hate central banks, we'll call it the Federal Reserve. Not federal. No reserves. The president will appoint board members, but we'll pick who he appoints. We'll have 12 regional banks, looks decentralized, democratic even, but New York banks control them all. 12/23/1913, most of congress home for Christmas. Perfect timing for passing unpopular legislation. Every American born after this will inherit debt on money we created from nothing. Generational servitude. Good afternoon.

"when we went off the gold standard, the governments had to convince people to accept money backed by nothing, Just be on paper that had no real value." "But what would happen with a return to a gold standard, it would require a lot more prudence on the part of governments that adopt gold again." "It would be much harder for governments to run large deficits, especially The United States." "Governments would have to act fiscally responsible in order to stay on a gold standard, which is another reason why we should be on one because they don't let governments run huge deficits when there's a gold standard." "Without a gold standard, governments can get away with this. They can create a lot of inflation and they have created a lot of inflation." "That's what's going to precipitate a return to the gold standard because otherwise, we have runaway inflation." "Otherwise, the dollar can become completely worthless and then you have real economic chaos."

Peter Schiff and the hosts discuss how surging gold and silver prices relate to potential banking instability and a broader dollar crisis. Key points: - Silver production is about 800,000,000 ounces per year, while bank shorts on silver are claimed at 4,400,000,000 ounces according to some reports. The implication is that if silver continues to rise, the biggest banks in America could face severe coverage challenges for their short positions. The discussion notes that many banks are “barely covering their asses to stay afloat.” - Gold and silver price levels are highlighted: gold at about $4,600 per ounce after a bounce, and silver at about $92 per ounce. Peter Schiff, introduced as a silver and gold expert and economist, has authored The Real Crash, How to Save Yourself and Your Country, and America’s Coming Bankruptcy. The host mentions the book. - Peter Schiff’s perspective on timing and crisis: he says the 2013 book predicted the current situation and that gold and silver have risen significantly—gold up, silver up substantially. He believes the price moves signal a major warning of a financial or economic crisis, comparing it to the subprime warning before the 2008 crisis. He asserts this time the warning concerns the U.S. government sovereign credit and a potential dollar crisis and U.S. Treasury crisis, possibly unfolding next year. - Connection to global debt and the dollar: Schiff explains that much debt is sustainable because the U.S. dollar serves as the global reserve currency, enabling continued spending. He notes foreign central banks buying gold instead of U.S. Treasuries, moving out of dollars into gold, and cites U.S. intervention in oil-rich Venezuela as part of broader moves to keep oil prices down. He argues that the dollar’s reserve status is eroding, and a meaningful decline in the dollar relative to other currencies could soon impact consumer prices and interest rates, leading to higher costs for Americans. - Impact on the average person: Schiff asserts that the reserve currency status has long supported a standard of living that relies on importing goods paid for with dollars created “out of thin air.” As the dollar collapses and the world shifts away from the dollar, the dollars earned and saved by ordinary people will buy less, with price spikes across goods and services. He suggests a future scenario where prices rise dramatically while wages do not keep pace, giving an example of a hamburger potentially rising from $15 to $30 or $50, and services versus goods diverging in price movement. - Preparation and investment stance: Schiff emphasizes that gold and silver have performed well since the turn of the century, outperforming the Dow in real terms. He argues for moving wealth into real money rather than paper assets and notes, in general terms, opportunities in mining stocks as a hedge, including juniors and mid-tier producers. He references the broader strategy of diversifying out of U.S. stocks, bonds, and dollars to protect wealth during what he describes as a coming real crisis; he stresses focusing on real assets rather than relying on the dollar. - Final remarks: Schiff reiterates that the crisis is coming and that some Americans should consider protecting wealth through precious metals and mining opportunities, while the hosts acknowledge the outlook and thank him for the insights.

The speaker argues that using the dollar as a tool of foreign policy is one of the biggest strategic mistakes by the US political leadership, stating that the dollar is the cornerstone of US power and that printing more dollars leads to their wide dispersion worldwide. Inflation in the United States is described as minimal, about 3% to 3.4%, and the speaker asserts that the US will not stop printing. The debt of $33 trillion is said to indicate emission, and the dollar is described as the main weapon used by the United States to preserve its power globally. Once the political leadership decided to use the US dollar as a tool of political struggle, the speaker claims a blow was dealt to American power. The speaker avoids strong language but calls the strategy a stupid thing to do and a grave mistake, pointing to world events as evidence. The speaker notes that US allies are downsizing their dollar reserves, and asserts that these actions cause everyone to seek ways to protect themselves. They claim that US restrictive measures—such as placing restrictions on transactions and freezing assets—cause great concern and send a signal to the world. A historical point is made: until 2022, about 80% of Russian foreign trade transactions were conducted in US dollars and euros, with US dollars accounting for approximately 50% of Russia’s transactions with third countries; currently, the share is down to 13%. The speaker emphasizes that Russia did not ban the use of the US dollar; it was a decision by the United States to restrict transactions in US dollars. The speaker contends that the policy is foolish from the standpoint of US interests and taxpayers because it damages the US economy and undermines US power, and notes that transactions in Yuan accounted for about 3%. Today, 34% of transactions are in rubles, and a little over 34% in yuan. The speaker asks why the United States did this, offering “self conceit” as the guess, claiming the US probably thought it would lead to full collapse, but nothing collapsed. Additionally, the speaker states that other countries, including oil producers, are thinking of and already accepting payments for oil in yuan. The question is posed to the United States about whether anyone realizes what is happening and what they are doing, as the speaker suggests that the US is cutting itself off. Finally, the speaker asserts that all experts say this, and that anyone intelligent in the United States should understand what the dollar means for the US, but claims the US is “killing it with your own hand.”

The speaker discusses the current state of the Federal Reserve note and argues that paper currency always crashes. They suggest transitioning to Treasury dollars, which Ronald Reagan had printed. They claim that the Federal Reserve does not have the gold that should back the US dollar. The speaker warns that if the country remains with the Federal Reserve note, it will lose its military might and standing. They mention that many countries are no longer using the dollar in international trade. The speaker also talks about their experience at Yale Law School and how the World Bank has been hijacked by a group called the Network of global corporate control. They accuse this group of state capture and usury. They explain that they have not been removed because they have followed the rule of law.

High taxes in the U.S. are often blamed for financial issues, but the real problem lies in how the government is funded. While taxes are high, they don't truly finance the government. Instead, the government relies on treasury bonds, primarily purchased by the Federal Reserve, which prints money to buy them. This creates an illusion of funding through taxes, but in reality, the government is financed by money printed out of thin air. If people understood this, confidence in the dollar could collapse, leading to severe consequences for Western civilization. Urgent policy changes are needed to prevent a financial crisis similar to past mistakes. There’s still time to act before the situation worsens.

The speaker argues that the United States is actively trying to change rules in the gold and cryptocurrency markets. They note that the U.S. national debt is 35 trillion dollars. The assertion is that these two segments—gold and cryptocurrencies—are the two alternative parts of the world’s currency markets. Washington’s actions in this direction are said to clearly illustrate one of America’s main objectives: to solve the problem of declining trust in the U.S. dollar, as was the case in the 1930s and the 1970s, by handling its financial problems at the expense of the world and driving everyone into a cryptocurrency “cloud.” The idea is that, over time, a portion of the U.S. national debt will be issued in stablecoins, thereby devaluing that debt. In simple words, the speaker reiterates that the United States currently has a 35-trillion-dollar debt, and they are pushing it into crypto, into the cloud, devaluating it, and starting from zero. This is presented for those who are very interested in crypto.

The eternal god wouldn't let bankers win. Independence requires choosing between economy and liberty or profusion and servitude. Public debt is dangerous. Every generation should pay its debts. A central bank was needed for financial security. Private banks controlling money leads to loss of property. Attempts at central banks failed. In 1910, a secret meeting planned the Federal Reserve. The Fed now prints money, putting the country in debt. Taxes and inflation steal wealth. JFK tried to dismantle the Fed but was assassinated. Since then, presidents haven't challenged the banks, causing wealth destruction for many.