Honor Washington’s Birthday (Uncut) 02-17-2025

Honor Washington’s Birthday, the Father of Our Republic – Ep 1010

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wanted to make a virtue out of selfishness your money your stories your freedom the Peter ship [Music] show all right well NF football is gone and so the Sunday night podcasts are back although normally when I do a Sunday night podcast the markets in the US are open for trading the following day that is not the case today because this is a three-day weekend tomorrow everybody gets a day off in honor of Washington’s birthday now I want to start off today’s podcast by talking about Washington and Washington’s

birthday because almost every American knows tomorrow’s holiday as President’s Day and you know that’s always pissed me off uh that we call Washington’s birthday President’s Day and um I think it would be great if president Donald Trump tomorrow when he talks about Washington’s birthday uh clears this up you know I I he puts a lot of stock in the name of things you know we we renamed the Gulf of Mexico the Gulf of America uh we restored the name McKinley uh to our nation’s highest mountain and so why not restore uh

Washington’s birthday now legally the holiday is still Washington’s birthday that hasn’t changed there is no official holiday called President’s Day and so I’ll tell you how the whole thing evolved because Washington’s birthday was on February 22nd so tomorrow uh is February 17th so it’s not Washington’s birthday so why are we celebrating uh Washington’s birthday on the 17th and not on the 22nd and that’s because in 1968 they changed the date that we celebrate Washington’s birthday they didn’t change the name of the holiday

they just changed the date so that it would always fall on a Monday it’s the third Monday of February so that everybody would get a 3-day weekend right so we’re more concerned about ourselves and the ability to get that three-day weekend so we could take a vacation then we are about honoring the the father of our nation because that’s really you know people don’t you know really spend Washington’s birthday you know honoring the memory of General George Washington right they go away on a ski weekend or you know they

come down here uh to Puerto Rico we got a lot of people here for uh the weekend the extended weekend so that’s really what it’s about it’s about you know taking a vacation so they they they changed it uh but you know we should at least uh call the Holiday by its actual name uh not President’s Day and the way President’s Day came about it shows you the commercial nature of the US economy it wasn’t until the 1980s that some you know retailers started advertising sales you know because whenever there’s a

holiday and people aren’t at work uh stores want you to go shopping so they started having all these sales on Washington’s birthday but a lot of the retailers started calling them President’s Day sales because uh Abraham Lincoln’s birthday is also in February I think it’s February 12th uh so a little bit earlier uh but you know obviously the that you know Lincoln was held in high regard up north not not so down south uh although that’s you know probably changed now but I mean back in the 80s uh I think it was still you

know there a lot of States didn’t recognize the holiday of um of Lincoln’s birthday but up north you know there was a separate you know some of the states had Lincoln’s birthday as a holiday but so a lot of the stores started showing both presidents because they were both born in February they started having these President Day sales uh but now I don’t even think people associate President’s Day with any particular president whether it’s George Washington or Abraham Lincoln I think they think it’s just the holiday to honor the

presidents which would include Joe Biden I mean who the hell wants to honor him and there’s a lot of presidents that I don’t want to honor in fact most of them have been a disgrace and so we should not honor them and so it’ be great if Donald Trump came out and actually said look I’d like people to call this not that he can order it but you know people put a lot of stock in what uh Donald Trump says I think he could do a lot to try to restore uh the honor that we’ve bestowed on the founding the Founding Father the

founder of our nation George Washington you know I I think he’s the only person uh that we should uh have a a holiday in memory of that’s one of the reasons I never wanted to have Martin Luther King day and I still don’t think we should have Martin Luther King day it’s not because I’m a racist or because I want to diminish Martin Luther King it’s because I don’t want to put anybody including Martin Luther King on the same level as George Washington I mean George Washington is a unique American we owe

our whole country to George Washington I mean not only did he defeat the British in the Revolutionary War as our our general but we owe our Republic to Washington there was a movement to make George Washington the king of America and if George Washington wanted to be the king he probably would have been the king and we’d be a monarchy but George Washington didn’t want the crown he turned it down I mean how many people would do something like that if they want to make you the king you know I mean it’s good to be the King right I

mean who wouldn’t want to be king well George Washington didn’t want to be king he put country above himself now sure he was a wealthy man in his own right um in fact up until the election of uh uh John F Kennedy he was the wealthiest uh person you know adjusted for inflation to be president you know now the wealthiest president is Donald Trump uh but before uh Kennedy it was it was uh Washington it was just because he married a wealthy Widow Martha Washington who had a lot of money she was very wealthy but he was a successful

businessman and he he made a lot of money himself so he was a successful guy but he wasn’t a king and he could have been King and he turned it down and there are a lot of other great things if you go and study George Washington to realize you know what a unique and amazing individual George Washington was the founder of our of our nation now I know people will say well but he owns slaves well so what a lot of people own slaves uh back in 1760s 1780s 1790s was a different world uh and although I

think George Washington you know was you know pro slavery when he was younger you know by the time he died I think his he his opinions had evolved you know he freed uh the slaves that he owned himself I think he freed his one slave when he died and in his will he freed the the rest of his slaves when his wife died and so they they they were freed uh on her death um but you can’t just judge a man by the fact that he had slaves in a time when slavery was widely accepted everywhere in the world and had been for

thousands of years it wasn’t like slavery was uniquely American the whole world had had slaves in fact America was at the Forefront of ending slavery it was the northern US states that were the first areas of the world to outlaw slavery right so we started it even though we had some stragglers down south that we had a civil war we we led the we led the charge on ending slavery but uh some people want to use that to diminish George Washington’s stature no he was a phenomenal American and but for George Washington

you know we we we we we wouldn’t be a republic you know we would be a monarchy and you know I want to also take a little time to talk about the difference between a republic and a democracy because I know uh Elon Musk has been uh making a lot of posts about democracy and I really wish that he would uh correct that because again a lot of people listen to Elon Musk he’s got a a great uh platform uh probably the biggest soap box in the history of soap boxes and you know he’s been posting a lot of good stuff you know he posts Ron

Paul now uh you know Milton fredman I mean a lot of good stuff uh and of course he’s highlighting uh all the corruption and fraud in government uh that they’re uncovering which doesn’t surprise me uh but I think it’s great uh to to bring it out in the open but he should use that soapbox uh to you know educate people about Republican government and to be proud that America is a republic we’re not a monarchy and we are not a democracy you know the article four of the US Constitution says or reads that

uh the United States government shall uh guarantee to every state of the union a republican form of government they didn’t say or they didn’t write democratic government I mean they knew what democracies were the founding fathers weren’t ignorant they were a lot smarter uh than the people in Congress now uh they knew what democracies were that’s why they established the American Republic but just cite the Pledge of Allegiance right you’ll see that we’re pledging allegiance to a republic and not a democracy and it’s not semantics I

mean there is a big difference between the two uh and I’ll discuss it a little bit and I wish that that Elon would and first of all you know the fact that we’re not a monarchy thanks to uh General Washington who decided to accept presidency and he also stepped down after his second term and he started that precedent which ruled until Franklin Delo Roosevelt stayed on for a third then fourth term and that resulted in a constitutional amendment to officially limit the president’s term to two but George Washington could have had

a third term nobody would have ran against George but he stepped down from Power because that’s the kind of guy uh that George Washington was but a a monarchy versus a republic Republican government a monarchy you are ruled by a king a queen and the title is hereditary so the King’s son becomes the king and is the new ruler and it’s not just the king and the queen you have a whole nobility a noble class that rules the common folk right you have you know Barons and Lords and Dukes right and then you know if if a Duke has a kid

he’s a Duke if he has a daughter it’s a duchess right the titles are also inherited with the land that goes around so you have the noble class and then you have all the Ordinary People well in a republic there is no uh nobility there are no titles everybody’s the same even the people in government are the same as the people they govern and govern by the consent of the people and that is the difference it’s not about democracy it’s about self- government we are not ruled by nobility we are ruled by ourselves by

Common folk because that’s all there is nobody is above anybody else everybody is equal under the law including the people that are serving in government now in the United States there are certain elements of democracy what is a democracy a democracy is the rule of the majority and it means that the government does what the majority want to do you have an election and you do with the majority now you could say well there’s a direct democracy where you just have an an a an election on every law right hey if we’re

thinking of passing a law let’s just put it to a vote and you know 50.1% and you know we pass it right or you can have a representative democracy which people think well we have a representative democracy what which we don’t a representative democracy would be that uh the people elect representatives who then vote and vote to do what the majority wants right I mean they’re they’re there to represent the majority and to vote the way the majority would want them to vote right it makes it simpler to have a

representative democracy because you don’t have to count the votes of the entire country you just count the votes of the representatives who in Theory are there to do what their constituents want them to do but in America we have representative government but it’s not a representative democracy in fact when the the Constitution was written the only democ democratically elected officers in the federal government was the House of Representatives right the senators were appointed to six-year terms by the state

legislator and the president and the vice president were elected by the Electoral College which was a a completely different group of people but our elected representatives are not supposed to take a poll and do what the majority of people want them to do they’re supposed to use their own judgment and do what they think is right even if the majority of the constituents who elected them have the opposite opinion right they’re supposed to do what they think is right because they’re supposed to be smarter they’re supposed

to be better informed than the public at large they’re not there to rubber stamp a majority vote but of course we have all sorts of checks and balances on the will of the majority you know we have a supreme court that can strike down uh unconstitutional laws no matter how many people support them right we have in order to pass a law both houses of Congress needed to to pass it and then the the republ the the the president had to sign it he’s just one guy one guy could veto a bill that the entire

majority of both houses wanted to pass what’s Democratic about that it’s not Democratic at all and then of course if you want to override the presidential veto you need two-thirds and look is what look look at what is required to change the Constitution you got to get three fours of the states to ratify a new Amendment where’s the Democracy there right the whole purpose of the Constitution was to protect America from a democracy and to preserve the Republic right you ask um ask Benjamin Franklin

what kind of government did you give us Mr Franklin a republic if you can keep it was the response he knew the key was keeping the Republic but the reason we have a republic and not a monarchy is because of the integrity and the greatness of the founding founder of our nation George Washington who we should all honor and celebrate on his birthday even if it’s the third Monday in January so we could uh have a a three-day vacation we could still remember uh the birthday of the founder of this nation

anyway we got a quick uh commercial I’ll come back I got a bunch of stuff to talk about so stick around I’ll be right back from tying the knot to Leading meetings at the office look and feel your best this year with a suit made just for you at an unbeatable price with indochino you can customize every detail like the lining lapel shape buttons and more plus indochino sources Fabrics from some of the best Mills around the world at a fraction of what other companies charge and you can make your jacket truly

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markets did the opposite of what I was uh saying would happen uh Gold stock sold off and gold got clobbered go was down $45 or so on on Friday and I want to get to the action on gold and silver and the mining stocks uh in a minute I want to just go over some of the economic data that came out on Thursday and Friday that again you know follows my narrative and is part of the I told you so uh uh uh part of it but uh so we got the producer prices that came out remember we got a much hotter than expected

CPI and that was followed up on Thursday by a hotter than expected PPI uh we were looking or they were looking not we but whoever these analysts are that that are forecasting they were looking for an increase of0 three for the month of January and instead we got an increase of 04 but even worse the prior month December of last year they initially told us that prices were up by just 0.2 now they’re telling us that they got it wrong they were up by 0.5 that is a big upward revision to the prior month that’s a big number again

you annualize 05 you’re at 6% right nowhere near this BS 2% Target the year-over-year producer price number which was supposed to be 3.2 was 3.5 and the prior month’s year-over-year number was revised from 3.3 to also 3.5 so you’ve got hotter than expected numbers and when you take out food and energy it’s even worse when you look at the core which is supposedly more important to the FED uh That was supposed to be 3.3 and instead it was 3.6 uh so that is a a big number so this is bad news and once again gold did not

sell off on this bad inflation news um and neither did gold mining stocks right you know we have they they hung in there and the point I made on Wednesday when gold Shrugged off of 4 $40 selloff to close positive on the day following the CPI was it meant hey maybe Traders are getting this that higher than expected inflation numbers are not bearish for uh for uh for gold they’re bullish now we also got on on Friday we got the retail sales numbers and the retail Sal sales numbers were much weaker than

expected and this should have caused gold to rally on Friday and it didn’t Gold sold off the um the number was minus. n that’s a big drop for retail sales the consensus was for minus .1 now yes there was an upward revision to the prior month from up point4 to up point7 but still the minus point 9 was a big deal and X Vehicles it was still minus point4 they were expecting plus3 and X vehicles in gas it was down5 so why are retail sales down and again this is not adjusted for prices we all know prices are going up and so if

retail sales are falling even as prices are rising what does that tell you about the volume of sales right it’s dropping even more people are buying less and they’re paying more but I think what might have hurt the gold price on Friday is the uh export price number which came out because gold started to sell off as soon as it came out again this was the another hot number so kind of gold survived the hot numbers on uh Wednesday and Thursday but on Friday we got the export prices and they were supposed to rise

by3 and instead they Rose by one .3 and the prior month’s increase went up from .3 to 0.5 and so now year-over-year export prices are up 2.7% versus um the prior month the year-over-year number was 1.8% so this shows prices are going in the wrong direction right the FED is trying to tell us that they’re headed down to two but all the numbers show prices moving in the opposite direction and there’s no reason to believe that this trend is going to change everything would tell you that prices are going to

keep Rising further and further away from the fed’s so-called 2% Target me remember I told you guys on a pre previous podcast the FED never had a 2% Target uh before inflation got below 2% I never heard anybody the fed you know back before the 2008 financial crisis when inflation was higher higher than 2% I never heard them say oh we got to get it down to 2% we got to hike rates because we’re above 2% no no no it wasn’t until we were below 2% that they use that to justify 0% and quantitative easy but now they’re kind of stuck with

this because since they told everybody that 2% is the target uh you know now you know that they got to deal with it they got to make the live in the they got to sleep in the bed that they made and so uh but they can’t do it they’re not going to be able to bring INF down to 2% now Friday was also a very interesting day because when I woke up Friday morning silver was up over a dollar silver was at like $23 I mean $33 excuse me $33 and like 30 40 C and so it looked like a real breakout except the problem was it was

only silver gold was only up about four or five bucks so when I saw that I was you know it was a little little little iy and I thought you know maybe there’s just a lot of unwinding of these spreads because a lot of people I think have been long gold and short silver as a as a spread thinking that look you know if gold goes down silver will go down more and if gold goes up it’s been going up more because it’s the ratio has been uh moving in that direction so rather than just being long gold they’ll be long

gold and short silver and in case the Market goes down like you know I can make money that way too but I think that it’s been so stretched where the ratio has been more than 90 to one I was talking about this on the last couple of podcasts I’ve been telling people look buy silver and I still think that you should be buying silver over gold right now right even though I’m you know I’m a gold bug you know silver is really cheap in terms of gold and so it looked like we were getting a unwinding of that

spread and I think that’s what happened but then as gold started to go down it cascaded and gold went to down $45 and silver went from up a doll10 to unchanged right I I think it ended up to day flat now it still was a gain in Gold versus silver because you know normally you know or not normally but in recent times if gold was down $45 silver would have been down a dollar maybe more instead it was flat so I think there was some unwind ing going on uh throughout the day but that unwind caused gold to

go down and it also caused the gold mining stocks to get clobbered I mentioned we had that outside reversal day on Wednesday and I thought that meant that we would just be going up from there in Gold uh gold stocks and instead I got it wrong because we got clobbered on Friday now I don’t think it changes the trend at all I think it it kind of was a buy the rumor sell the fact even though I don’t know how many people were buying the rumor but we did get uh four uh major gold companies that reported earnings three out of four beat

right beat the earnings estimates but all four had great earnings compared to where they what they were earning a year ago uh and the price of gold is already much higher than it was uh when they earned this money last quarter uh but I think that you know we had had a rally I mean gold stocks were up maybe 20% or so on the year now compared to where gold is they should have been up much more than that because they got clobbered at the end of last year for no reason other than Trump winning and gold having a

small correction of maybe 7% at Max but that sent gold stocks plunging into bare Market territory uh but I think a lot of people realized that they were going to beat on earnings and so when they did beat on earnings uh the stocks got sold but I think that’s just a temporary move I think that probably starting this week people who sold those stocks are going to be buying them back because the outlook for the gold mining sector I think is phenomenal we’re going to get a lot more earnings coming out between now

and the end of February and I would expect again the trend to be positive just like this time we got 75% of the companies beating but even the ones that don’t beat they’re still going to have substantial earnings growth you know I think in in some ways maybe some of these analysts deliber iately want to uh overestimate so that they can punish the stocks when they don’t deliver or don’t beat those uh Rosy estimates but even though you have some of these Rosy estimates for the current quarter uh people are not bidding up the stock

price and again as I said on the last podcast they look at earnings two or three years into the future and assume they’re going to be lower because everybody just pencils in a lower gold price you know ignoring the fundamentals oring the trend of the last 20 years for higher gold prices everybody on Wall Street just assumes that you know a few years from now Gold’s going to be a lot cheaper uh and so that is impacting their outlook for future earnings and therefore uh the recommendations on you

know whether people should buy or whether they should sell because it it affects the present value of of those future future uh income stream so people should be buying these stocks I think next week uh buying into the euro pafic go fun EP GX I think I always I always mix up those uh the symbols EP G or igx I gotta I gotta I gotta pull it up here but um and silver um people should be buying I think silver now more than than gold I do think that what we’ve seen if this is the beginning of an unwind unraveling

rather of that gold silver spread um then that’s bullish because I think when people start getting bullish on Silver it’s because gold and silver are going up I think it’s a much stronger bull market when you have silver leading the way uh and I think maybe we’re going to be entering that so at this point with silver still trading around $32 and gold you know near you know it’s 2900 even though it dropped $45 it’s still barely below 2900 uh in fact it’s up you know it’s up uh $13 right now on Sunday night so it’s just 2895 we’re

only $5 below 2900 um silver should already be above $50 given where gold is at at a minimum I so for now I would focus on it and especially with the tariffs looming you know there’s been articles written and it’s happening they’re not just writing the Articles they’re you know writing about what’s going on but a lot of gold has been coming into the United States a lot of it coming in from London uh and the reason I think you’re seeing a rush of imports is to get ahead of these tariffs because the tariffs would apply

to gold and a lot of the gold that Americans might want to buy is going to be imported you know America produces gold we’re the the fifth largest gold producer in the world number one is China right pretty much number one in everything number two is Russia number three is Australia number four for is Canada and then the United States but if gold demand really picks up which it should we won’t be able to meet it with our domestic production and so we’re going to need Imports well if there’s a 25% tariff

who’s going to want to pay 25% more for their gold so the idea is let’s bring the gold into the country now so that we don’t have to import it well I would suggest the same thing for our customers at shift gold right don’t wait to buy your gold after there’s tariffs that’s the worst time to buy it it’s going to be tough you know uh so if you want to have physical possession of gold and silver Buy It Now not only because the price is going to go up but because the tariffs may go on and of course the gold

producers are not going to eat those tariffs tariffs for sure will go dollar for dollar so if if Trump imposes 25% tariffs on gold any gold coming into this country is going to be marked up by $25 otherwise it won’t come in because nobody in Russia is going to sell gold to America for a dollar less than they can sell it in Europe right the price is the price and so if we want to tax Americans $25 to buy a Russian gold then they’re going to pay $25 20 20 5% more than what the Europeans are paying for

the same for the same gold so the idea is to buy it now and the same would be true with with silver now I guess if you’re buying like junk silver uh it you know obviously that’s not imported but that’s you know when you’re buying junk silver that’s a used product right by definition right you’re buying it from somebody who’s selling it but if there’s a 25% tariff on Silver coming in that’s going to cause a big premium in junk silver because people buying junk silver or anybody who’s buying you know a used uh silver product that’s

already in this country right they’re going to be able to charge more because it’s not going to be competing with the new products that are being imported into the country so uh the big guys the institutions are trying to jump ahead and they’re buying their metal now I would suggest that you know my followers customers shift gold do the same thing except more so with silver right buy your silver now uh maybe there’ll never be tariffs well it’s still cheap you should buy it anyway even if you would you

didn’t have the threat of tariffs that were going to make physical gold and silver a lot more expensive you’d want to buy it anyway so now you got another reason right you you can kill two birds with one stone you can get in to Silver uh before the price goes up and you can beat the tariffs and if it turns out there never tariffs well then you still did the right thing by buying it and the fact that we did get to sell off you know it it may have been Off to the Races on uh on on on Friday after it was

up a dollar maybe it would have gone up two or three and who knows the fact that you know it came down that that’s that’s a good thing if you want to buy some silver I had no intention of selling any of mine so it doesn’t matter to me and I got a lot of followers who i’ like to buy more silver so I’m happy when anybody is dumb enough to sell it because that means my my clients uh can uh can take advantage of that and buy it also we got more economic data on um on Friday by the way Friday was Valentine’s Day I forgot about that

so we got Valentine’s Day Friday uh Washington’s birthday on Monday but yeah not a lot of love for precious metals on on on Valentine’s Day that was for sure but you got to love the sell-offs if you’re if you’re a buyer and I am definitely a buyer um industrial production there again um the overall number we got a beat uh in the industrial production but manufacturing output actually fell to minus .1 so that was a bit of a negative on less manufacturing what else did we get um that came out I think that’s I think that’s it you

know talked on the podcast on Tuesday at the very end because I kind of forgot to mention it and so I talked a little bit about it I talked about the the deficit for um the the prior month which was you know a huge increase uh January year year-over-year but we actually got the first quarter of the new fiscal year completed so we have three months of the fiscal year and the deficit in three months the official deficit was $711 billion that’s a record so we’ve never had a quarter where we have had a

budget deficit that large including during covid amazingly so you know supposedly the economy was really strong in the last quarter so we have such a strong economy why do we have the biggest deficit in any quarter in history I mean normally if the economy is strong the deficits are smaller right they get bigger when you’re in a recession and they’re doing all this stimulus what that proves is that we were in a recession we were getting stimulus and I pointed out that the fiscal stimulus that we’ve been getting

has been the most that we’ve ever had there’s massive fiscal stimulus because this is a stealth recession that nobody has acknowledged the voters acknowledged it by sending kamla packing and electing Donald Trump and and uh and the Doge boys to go to Washington but that’s a 40% increase too for the first quarter of the prior um fiscal year also last year uh fiscal 2023 we spent 1.13 trillion dollar on interest I mean by far a record which we’re going to beat this fiscal year but more than we spent in National

Defense the only program that’s more expensive than interest on the national debt is Social Security and that’s going to change I think by next year we’ll be spending more on interest on the national debt than we spend on Social Security and then we’ll be spending more on interest on the national debt than we spend on Medicare and Medicaid combined it’s going to be the number one line item in the budget and there’s no stopping it now think about it this way I mean right now I’m sure we’re doing a

100 billion a month at least in interest on the debt a hundred billion doll a month what that means is that the interest on the debt because of course we’re running a de budget deficit and so we have to borrow the money to pay that interest it’s not like we got the money so the interest on the debt the money to pay that interest has to be borrowed just like a lot of other money is borrowed so we have to borrow another 1.2 trillion a year to pay the interest on what we’ve already borrowed so the

interest on the debt alone adds 1.2 trillion a year to the debt now we never even had a trillion dollar budget deficit uh in until recently right until uh was it covid or when did we have our first trillion dollar it just happened now we’re going to have a trillion dollar deficit every year even if the budget is balanced right even if the government balanced the underlying budget meaning we paid for everything that we spend except interest on the debt just interest on the debt would give us $1.2 trillion deficit so in

other words we need a $1.2 trillion year Sur plus to break even that’s how deep this hole is but we’re still digging it because it’s not going to stop at 1.2 trillion and I think by the end of 2026 we’ll be spending $2 trillion doll a year on uh on interest on the national debt so I mean this is a catastrophy happening right before our eyes and I know as the Republicans are trying to uh negotiate a new budget yes getting rid of waste Fraud and Abuse is going to help but it ain’t going to cut it it’s

not going to solve the problem it may mitigate it somewhat and I think part of the good that we’re going to get is a public relations good by exposing the fraud and corruption in government but we need you know we need government to level with the public about the extent of the cuts now Donald Trump the other day and I don’t know if he was in said it in just or not but he was being interviewed and he talked about having a meeting with China and Russia about cutting defense spending in half which

would be great if we actually did that now I don’t know that we’re going to be able to orchestrate this Accord that he was talking about uh with China and Russia but at least he talked about cutting the military it’s the first time I heard him do that he’s always been talking about spending more on the military I mean he increased military spending when he was president the first time and he’s been telling the Europeans that they should be spending 5% of their GDP which would be a huge increase even more than we

spend on defense now to finally say that we should be spending less that’s great we should be spending less we got to cut defense but it can’t stop at defense we got to cut Social Security we got to cut Medicare we got to cut pension we got to cut a lot of stuff uh that is going to upset a lot of people you know and and Donald Trump is the guy that could do it you know if he can’t who can right I mean somebody has got to level with the public about what needs to be done about the pain that we have to go through I

mean he he kind of talks about it you know the terce there may be a little short-term pain look if we’re really going to reindustrialize the nation and make America great again and get rid of the TR deficits which we need to do we need to understand that the world has not been taking advantage of us we’ve been taking advantage of them but in the process we are impoverishing ourselves we are selling off the cows to buy milk there is a big long-term price to be paid uh for the excesses uh that we’ve

been enjoying uh based on our trade deficits and yes for the long-term health of the country we need to bite the bullet and wean ourselves off of uh you know this International charity and that means that in the short run our standard of living is going to go down because we have to transition from a borrow and spend economy to a save and produce economy that’s not a fun economy compared to just going out and buying stuff that you can’t afford right we have a great time living high on someone else’s hog right

but if we have to start you know working harder and consuming less which is what we have to do right the whole bubble economy impls right the GDP has got to come down initially by quite a bit before it can go back up asset prices have to come down stocks real estate interest rates have to go up somebody’s got to prepare the American public to accept that who better than Trump now will he do it probably not uh but he should and and um Elon Musk should encourage him uh to do that and you know maybe maybe now is the time maybe they

could actually get that done you know we are heading towards another government shutdown you know the Democrats will try to blame it on the Republicans because the Republicans have both houses of Congress but of course most of the Republicans want to just keep on spending yeah there’s some Cuts in there but it’s nowhere’s near are going to offset the tax cuts and the normal growth of entitlements and other spending that on autopilot you know most of the cutting that they want to do to the extent they want to cut anything is

a reduction in a rate of increase not an actual cut the way you know normal people would think of it normal people think of if you’re going to cut spending you’re going to spend less right if I said I’m cutting my spending next year it would mean I’m going to spend less next year than I spent this year but according to government when they say we’re going to cut spending next year what they mean is we were going to increase spending next year we’re still going to increase our spending next year

we’re just going to increase it by less than we were planning and they call that re reduction in the rate of increase a cut right that in in no other you know world uh would spending more still be considered a cut other than in Washington but I’ve said this and I’ll say it again the best thing that Trump could do if he’s completely serious about slashing government spending balancing the budget shuttering entire agencies and departments there is one fire way to do it and he doesn’t have to worry about

legal challenges right you know now you know they want to you know cut spending from the executive branch and you have all these court cases and all these challenges which again we have a republic people say hey this is a democracy reelected Trump let him do what he wants well no you know there are laws There Are Rules uh you know maybe he was trying to do bad stuff right so we got to work through this legal process but there’s one thing that Trump can do where there is no end around Trump can force Congress to make

these Cuts he doesn’t have to make them himself the Doge you know uh Brothers don’t have to do it and take all the flak right all Trump has to do is one simple thing don’t sign the increase in the debt ceiling in fact come out tomorrow on Washington’s birthday and say in O honor of General George Washington let it be known that I will not sign another increase in the debt ceiling no matter what you know we can also honor uh Harry Truman who is no George Washington but he did say the buck stops here so Trump could say the

buck stops here with me no more deficit spending that’s it and if he says that and he holds tight Congress has to take a meat believer to the budget because if they don’t raise the debt ceiling they can’t issue debt and if they can’t issue debt they can’t spend more than they collect in taxes that’s the law and there’s no judge that can overturn that now they could override his veto but I don’t think they’ll be able to do it because all Trump needs is to get onethird plus one of either the house or

the Senate he doesn’t need both he just needs one body of Maga to hold tight and that veto is sustained and that means they got a cut now people say well they have to default on the debt no we don’t not if they don’t want to interest on the national debt right we just said we’re now spending uh a trillion dollars 1.2 trillion a year on interest well we’re still collecting five trillion a year in taxes so we got almost five times as much revenue to pay the interest so if we want to prioritize the interest we

don’t have to default on anything but we got to default on something we got to cut and Congress will have no choice if the president stands firm right but you know he won’t right um you know talking about making big cuts and making big cuts are two very different Political Animals but you know if Trump doesn’t have the stomach for the fight you know who are we going to elect that will right so he it is possible to do it um it isn’t going to be easy but I think that’s the only way to do it because if

if if if Congress isn’t put in that box they’ll never they’ll never cut the only thing that will re them in will be a crisis right now of course it’ be like a crisis if we if we if it was self-inflicted if we had a cut $2 trillion doll of spending right now this year yeah we’d have a massive recession but it would be a healthy recession it would be a long overdue uh a recession that would you know help pave the way for a really solid recovery but yes it would you know it would be painful for a lot of people but

it’s going to be even more painful for even more people if we don’t do it now and have the markets do it later because we’re GNA have a currency crisis a sovereign debt crisis eventually it’s just if it’s not on our terms if it’s on our creditor’s terms if it’s on the Market’s terms it’s it’s going to be far more brutal but you know the general tendency of politicians is more pain later is better than less pain now uh because or because I’m in office now so nobody seems to care about how much worse the country is when they’re no

longer uh you know in office well we need to see some uh leaders who care more about the country uh than about their own reelection and since Trump can’t be reelected it seems like a perfect time for him uh to put uh country above self anyway that’s it for today’s podcast again uh if you liked it don’t forget to uh leave a comment put the thumbs up subscribe if you’re not watching or listening to this on YouTube uh or if you are and you’re not a subscriber subscribe to my YouTube channel I really want to get the

subscriber base up to 600,000 it’s like I’ve been below that for a couple years now it’s like i’ I’m kind of like reached a plateau uh maybe I lose subscribers as I gain them but I really like to get up to 600,000 uh subscribers to YouTube uh still growing nicely on X you know above 1.1 million make sure you follow me on X if you’re not doing that now uh make sure to subscribe to our free newsletter at shifts sovereign. comom or better yet uh try out the premium uh newsletter and um again EUR Pacific uh

Capital EUR Pacific asset at management.com these mining stocks they are giving these things away I look for some really good earning surprises we got a gift on Friday uh that we got some profit taking on the good news giving more people the opportunity to buy gold stocks to buy the EUR Pacific gold fund again you get more information on the gold fund at europa.eu ERS you know look for the discounted no load ticker symbol for the EUR Pacific gold fund and buy the fund while these stocks are still cheap

because if I’m right they’re not going to be cheap for long bye for now