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Operation Economic Outcast (FULL SHOW)- Martin Armstrong — Transcript

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0:00What's up everybody? Just want to take a
0:01quick second and let people know that I
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0:31episode I put out. So, look forward to
0:33uh continuing to um you know provide
0:35great conversations and thank you all
0:38for your continued support. [music]
0:46Martin, today is August 24th,
0:50right? Yeah. August 24th, 2026. And it's
0:5310:00 a.m. Pacific that we're recording
0:55this. And I said, I mean, maybe we'll
0:57still be talking when Besson's press
0:58conference starts supposed to start at 2
1:00o'clock Eastern, which is an hour from
1:02now. Um, but you know, how important is
1:07this
1:09his what he's about to say and what do
1:12you think is going to what do you what
1:13do you think is going to come out of it?
1:16This episode is brought to you by
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1:20bring a depth of knowledge and
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1:26their financial needs are met now and in
1:28the future. Personally, I'm not saying
1:31cash is worthless, but you can see
1:33what's happening. It's worth less every
1:35year. Gold is the opposite. Click on the
1:38promo link in the show notes or go to
1:41www.mmacelaney.com.
1:47Well, the problem
1:49is that when government steps in to try
1:53to support a market or manipulate it in
1:58one way or another,
2:00when that fails,
2:03then everybody [clears throat] starts
2:05looking at it. They can't stop this.
2:09Um, I mean, that was the case in Japan.
2:13the government came out, we're going to
2:14support Tikk,
2:16you know, it collapsed. Um, in 1987,
2:22I mean, what really caused the 87 crash
2:27was currency
2:30because they did the Plaza Accord in 85
2:34and said they wanted the dollar down
2:3640%. So then it went down too far. Then
2:40they have the the Louv Accord in
2:42February 87.
2:45They all got together. Now it's the G7.
2:48That's it. We've determined the dollar
2:51has gone down far enough.
2:55Didn't work. Once the dollar started
2:57making new lows, the traders looked at
3:00it. They can't stop this.
3:04And then all of a sudden, the rumors
3:06were it's going to fall another 40%. And
3:08that's what caused the 87 crash. You
3:12know, people, you know, foreigners
3:14started dumping everything because they
3:16didn't they thought the dollar was going
3:19to go down another 40%.
3:21Um, we had sold like a third of the
3:24national debt to Japan. I warned them,
3:26you know, they're going to sell, you
3:29know, and
3:31you know, often these people just don't
3:35um they're just not qualified for the
3:37positions they take. You know, they
3:39think they can lower the currency to so
3:42they can sell more widgets, you know,
3:45but you're devaluing everything else in
3:47the country from real estate, stocks,
3:50bonds, you name it. Uh it's not just one
3:52thing. And no matter how many times I
3:55scream at them and I tell them that they
3:57make the same stupid mistake every time.
4:00Um, so I think the danger here
4:05is that Bessant,
4:07you know, stepped up. Okay, we're going
4:09to double what we're buying.
4:12Rates still went higher.
4:15Um,
4:17when you're looking at
4:20war,
4:22um, it was Vietnam that broke Brenton
4:25Woods and the gold standard.
4:28You know, you kept spending, spending,
4:30spending, and it broke it. And
4:34we can't get the hell out of this Iran
4:37uh, war. Um
4:40Netanyahu was very clever in getting the
4:43US in uh and
4:47they're basically they're really
4:48winning.
4:50Um
4:52you know they've come out and said you
4:54know we have survived.
4:56All they have to do is survive.
5:00All right. What's our definition of a
5:03victory?
5:05Straight hormus is open again. it was
5:07open before, you know, there's no regime
5:10change. Um
5:14they have, you know, they have openly
5:16come out now and said that they were
5:20um working on a new um a lot of people
5:26have freaked out because once they said
5:28that,
5:30they're beginning to wonder, do they
5:31already have one? you know, so it's just
5:35a mess, you know, and
5:38[clears throat] they just came out and
5:39told the Gulf States, if you support the
5:42US, you're our enemy.
5:45Um
5:49then you have the mad man in in Ukraine,
5:53you know, excuse me,
5:56Trump, you know, um remove some of the
5:59statute, you know, the um
6:03[clears throat] the provisions that he
6:05put in the sanctions on Russia oil
6:09to try and help the world
6:13uh in lowering crisis and Zullinsky
6:16said, "No way. I don't care what the
6:18rest of the world wants." And started
6:19attacking refineries in Russia. So all
6:22of a sudden they have they have to
6:25actually import refined products now. Um
6:29[clears throat]
6:32I mean that's why I say Zillinsky and
6:34Netanyahu are just two egotistical
6:38maniacs that should be thrown in a cage
6:40by themselves. Let them fight it out,
6:42you know. But um
6:46neither one cares about the rest of the
6:48world. It's just what I got to win.
6:51That's it.
6:53Um Trump can't get the hell out because
6:56Iran
6:58um first they wanted a guarantee
7:01that they wouldn't be attacked again.
7:04And Trump couldn't deliver that because
7:06he can't control Netanyahu.
7:09So now you have a situation where it's
7:12gone too far.
7:14Um
7:17the US has drained its its missile
7:20stockpile down dramatically. It didn't,
7:24you know, um cause Iran to capitulate.
7:28Uh and
7:31I mean even we hear all this stuff, oh
7:33Russia's economy is going to collapse.
7:36uh they have the lowest debt to GDP in
7:39the world of any of the G20. It's like
7:4216 to1.
7:45Um
7:47on average everybody, you know, globally
7:50it's it's over 300 to one.
7:54Um so I mean it's
7:59Russia, you know, sorry, it's not going
8:02to collapse. Um, Iran, they have with
8:07withtood all the bombing. you didn't get
8:09the regime change and there's no way we
8:14can open the straight mainly because
8:19um you would have to put [clears throat]
8:23military in there occupy about 50 miles
8:28either side of the straight on both
8:30sides
8:32to open it.
8:34So now you're talking about
8:38100,000 troops there permanently.
8:43I mean, it it's just a mess. Um,
8:47I don't think anybody's really kind of
8:50thought this thing through.
8:52Um,
8:55so you got Beth
8:58trying to support the bond market, but
9:00you got Europe beating the war drums
9:03because the EU
9:06is in dire straits. Um, you're seeing
9:10stress between the members. Um, Italy
9:13coming out and saying they don't want to
9:15see any more money going to Ukraine. and
9:19they overthrew Orban in Hungary. Uh it's
9:23the EU
9:25is now fighting for power,
9:28their power to retain over Europe
9:32and so you're seeing the stress between
9:34the individual states. All right? So
9:37it's the EU that needs the war with
9:39Russia.
9:41you need unity
9:44basically to uh retain power. I mean
9:47this is an old
9:50formula. Um you can read Salis from a
9:54Roman historian and he says the same
9:58thing back then. He said once they
10:01conquered
10:03Carthage
10:04um there was no more more unity
10:08and everybody start breaking up into
10:11groups and fighting each other. Um
10:14that's the risk that Europe has. So as
10:18the EU goes
10:20um this is why they're fighting so hard
10:22and threatening. Oh, and and you see it
10:27with the the propaganda coming out.
10:31Um,
10:33go back a couple of months and you'll
10:34see, oh, Putin's going to invade Europe
10:37by 29.
10:39Now, all of a sudden, what are they
10:41saying? Oh, he's going to invade Europe
10:44in a matter of weeks.
10:47You know, then they create some false
10:49flag. Oh, Putin did this. Oh, to justify
10:52war.
10:54Um,
10:56our computer as you know it just it's
10:59not I think if they if it had legs it
11:02would hide it underneath my my bed, you
11:04know. But um it's it shows that
11:09I mean look the computer's been
11:11phenomenal in this because it's not a
11:13personal opinion. Um it's tracked
11:16everything. Um
11:18>> was the computer scared Martin? Is
11:20computer hide under your bed because
11:21it's scared of what's coming?
11:23>> [laughter]
11:24>> I just don't see any resolution to it.
11:27Um, you know, Iran versus Israel, it's
11:30my God against your God. You know, it's
11:33not a question of I'll give you
11:35boardwalk for Park Place, like we're
11:37playing Monopoly or something. Um, and
11:39the same thing in Ukraine. I mean, we
11:42had staff there in Kiev and in Donesk.
11:48one and Donk even translated the movie
11:50The Forecaster for Russian TV. Um,
11:53[clears throat]
11:55they wouldn't even talk to each other.
11:58The hatred there is systemic. I mean,
12:04I've tried to explain, but they're they
12:08goes in one ear and out the other. uh in
12:11Kiev, they've been raised to believe
12:14that Russia stole all the food and
12:16killed 7 million of them. And I said,
12:19"Do you realize number one,
12:22[clears throat] Stalin wasn't Russian?
12:24He was from Georgia. And two, his
12:27right-hand man that suggested taking the
12:30food from Ukraine, Keanovich, was born
12:32in Kiev.
12:34He was he was basically a Jew and he was
12:37getting back at Ukrainians for killing
12:40all the Jews. Um, Russia didn't have
12:44anything to do with it, but it goes in
12:45one ear and out the other. It's Russia,
12:48Russia, Russia, you know, and
12:51so how do you ever
12:54really get to the point of a resolution
12:56here? It's just a systemic hatred.
13:00And um
13:03I've said before when Yugoslavia was
13:05going to break up, I got called in
13:08and they said, "Oh, you know, they
13:10killed 600 of us and threw us in a a
13:12common grave." And I thought I missed
13:14something. I said, "Oh my god, really?
13:17When did this happen?" "Oh, about 700
13:19years ago." I said, "Okay." you know,
13:22the the they remember for I mean
13:26decades,
13:27you know, and I was in Athens when
13:30Merkel was refusing to bail out Greek
13:33banks and they were walking down the
13:36streets and protest dressed in Nazi
13:38uniforms.
13:40Um this people don't realize this stuff
13:45um in Europe
13:51basically
13:52it's a language that keeps them all
13:54apart.
13:56Um
13:58that you know a French girl is not going
14:01to bring home a German boy and the
14:03father's going to say you do know what
14:05they did to us. you know, um,
14:09it keeps them all separated.
14:12Whereas in America,
14:15I [clears throat] told them
14:17what made the United States great was
14:19the was discrimination.
14:22And they said, "Oh, how can you say
14:23that?" I said, "Because it was fair.
14:26Whoever was the last off the boat didn't
14:29get a job until they spoke English."
14:31So you ask an American, "What are you?"
14:33I'm half German, half Irish. But
14:35everybody in her marriage. So it was the
14:38language that did that.
14:41All right. We don't [clears throat]
14:43have that resentment. Uh cuz everybody
14:47intermarried.
14:49Um I did watch a documentary on FDR and
14:52he went to Boston trying to sell his
14:56idea getting into World War II and they
14:59rejected it because they're mostly Irish
15:01there. and [clears throat] they said,
15:03"You expect us to go defend Britain
15:08after what they did to Ireland?
15:10I couldn't get in. That's why I needed
15:12Pearl Harbor, you know." Um,
15:15so I mean, this is I I've dealt with
15:17Europe for a very long time and I the
15:20same thing in the Middle East and I
15:22don't see
15:25it's not a simple border dispute. I'll
15:28give you this for that. you know, it
15:30it's this is I don't see it as being
15:35solvable.
15:36You know, the hatred's just there.
15:39I want to I want to go back to Scott
15:41Bessant here and and ask you what what
15:44is your opinion of him and how far back
15:46have you been following his work?
15:51>> Well, he was with Soros a long time ago.
15:54Um,
15:56you know, they were on the other side.
15:57>> What was his role in that, Martin? with
15:59Soros.
16:01>> Um I [clears throat] believe he is the
16:03one that actually
16:06um convinced Soros to uh do the British
16:10pound trade.
16:12Um
16:15that's what I heard back then. Um
16:20they were, you know, Soros was on the
16:22opposite side. Um they were all in on
16:25this Russia deal. Um and
16:31um I said no, Russia's going to
16:34collapse. Um I did that conference in
16:38London and I didn't know at the time,
16:40but the London Financial Times had snuck
16:42in the back and then they put it on the
16:44front page. Armstrong says Russ's going
16:46to collapse. Um and then that was
16:49long-term capital management crisis and
16:51all that. They've invited me down.
16:55Um, they put on a dinner uh they rented
16:59the entire National Gallery
17:02uh in Washington to put on a a dinner
17:05for the IMF and I mean everybody in town
17:08was there. I was talking to Paul Vulkar
17:11at the time and um it
17:16just as a footnote it was illegal to buy
17:20um a member of Congress dinner.
17:24So
17:26they had a buffet.
17:28Um everything was there. Lobsters,
17:31fileons, you name it. But as long as you
17:34stood,
17:36it was just a norish.
17:39Uh I remember I'm holding the plate for
17:41for Paul Vulkar while he's cutting his
17:43steak and then he I mean this is the
17:46absurdity of Washington.
17:49Uh, but they put on this big
17:52party, invited me there to show me they
17:55had the IMF in their back pocket,
17:58and I said, "I don't really give a
18:00shit." I said, "My computer says it's
18:03going down, and they're not going to be
18:06able to to stop it." But they thought
18:12Russia had all these nukes
18:14and so therefore the IMF would never
18:17allow Russia to default
18:20and they would support their bond market
18:22and is paying up to 30%.
18:26So they thought they just found the
18:28greatest guaranteed trade in life, you
18:31know, and everybody was in it. Of course
18:35it collapsed and they blamed me for
18:36that. Um, but it's what they don't
18:40understand in all these types of
18:43manipulations.
18:45Um, they're all in on the same trade.
18:50So, something happens. You try to get
18:52out. You are the market. Who are you
18:56going to sell to?
18:58Everybody's long. Everybody's bought and
19:00you're at the top.
19:03You can't get the hell out.
19:05That's what caused
19:08the
19:10um liquidity crisis.
19:13They started selling every other asset
19:16outside of Russia to raise money to
19:19cover their losses. They're selling the
19:21Japanese yen, the stock market. That's
19:24where the fundamentalists got killed
19:27because there was no fundamental reason
19:31to sell the yen or the dollar and the
19:34stock market and they didn't understand
19:37it. They were just trying to raise money
19:39to cover their losses in Russia.
19:42Um so these things are all
19:44interconnected. That's why I said we're
19:46all connected. It's not that you can
19:49look at any country in isolation.
19:52and Bessant right now I suspect
19:57is going to come out again trying to
19:59support the market um verbally whatever
20:03um
20:06it just doesn't work and the danger here
20:09is like 87
20:11you see interest rates go higher
20:15and then nobody's going to believe him
20:19but he comes from that whole Soros crowd
20:23and they think that they can manipulate
20:26a market and I've always said sorry you
20:31can't
20:33um market forces will be the market um
20:37and
20:38they don't get it when everybody's long
20:42um
20:45even in the 87 crash
20:48I was called in by the presidential
20:50commission
20:52And I said, you know, the
20:55it was a professor um I think it from
20:58Harvard or something or maybe MIT MIT
21:02and he said, "We're going to find the
21:04guy that shorted this market and forced
21:06it down." I said, "Do you realize that
21:08every investigation since 1907 began
21:11with those words and nobody's ever been
21:13found?"
21:15And I said, "Do you understand how
21:17markets function?" I teach finance. I
21:21said that's very nice. At the time I had
21:24um about three I had the equivalent of
21:27about 50% of US national debt under
21:29contract. I said I think I know how it
21:32works. All right. Um I said when
21:35everybody's long and you try to sell,
21:39all right, you get those thousand point
21:41drops because there's no bid.
21:45They've never traded. you pick up the
21:48phone and say, "Where's the bid?" There
21:50is no bid. It goes down like a thousand
21:52points like that until it finds a bid.
21:56Um, that's why you get these, you know,
21:59dramatic declines at times and because
22:02they're all long and then they try to
22:05sell and there's nobody there to buy it.
22:09Uh, that's the way markets go.
22:12Are you surprised that since this war
22:14started at the end of February, the
22:17stock market's gone up, gold had gone
22:19down, but I see I didn't look what it
22:20was doing today, but it it's gone back
22:22up. Bitcoin crashed, but that's come
22:24back up. Oil, uh, the price of gas, even
22:28though it went up, it went down, and now
22:30it's going back up again. Just filling
22:32up my tank yesterday, I saw it's almost
22:34as high as it as it's been at the peak
22:37since this conflict started. Are you s I
22:40mean are you is Besson are you surprised
22:43of this manipulation that appears to be
22:45happening with all this?
22:47>> No, not really. Because what happens is
22:51um I've said plenty of times. When you
22:54[clears throat]
22:55get into war,
22:58capital flees from wherever that risk
23:01is.
23:02As you know, we have offices
23:05everywhere from China to Dubai.
23:08And I can tell you that Iran
23:11sent more missiles and drones at Dubai
23:14than they did Israel.
23:16Why?
23:18Because
23:20Switzerland basically shot itself in the
23:23head.
23:25When they were confiscating assets of
23:28just the Russian people, oh, you knew
23:31Putin, so I'm taking everything you got.
23:34That violated international law.
23:37Um, it's like somebody saying, "Well, I
23:40you know, you're an American. I don't
23:42like Trump, so I'm going to confiscate
23:43all your your property." What the hell
23:45is that? All right. So,
23:49basically, the smart money left
23:51Switzerland. The two places it went was
23:54Dubai and Singapore.
23:58And [clears throat]
23:59I can tell you, you know, I had staff in
24:02Dubai and
24:06they built a $30 billion AI facility
24:09there. Everybody's in town. Amazon's
24:13there. Open AI, you name it. All right.
24:16Um,
24:18Iran attacked that facility. They didn't
24:22destroy it, but they did take it down
24:25for about a week. the banking system
24:28went down. I couldn't even send money to
24:32my staff there. Um,
24:36so Iran is playing 3D chess.
24:42All right, we're playing checkers.
24:46>> Some people there's some people out
24:47there, Martin, that says Trump is
24:48playing 5D chess and he's crushing the
24:50cabal, the deep state.
24:52>> No,
24:53>> sorry.
24:54Um,
24:55>> I heard can I I heard somebody say that
24:57I heard a a show where they said the
24:59deep state is in Iran and that's why
25:01Trump is bombing them. Have you heard
25:03that one?
25:04>> What?
25:04>> I'm serious. [laughter]
25:05>> No, that's that's
25:08what they're doing is
25:11during CO
25:14oil went down to $6.50.
25:18So the Gulf States couldn't function.
25:22They borrowed extensively and now they
25:24have serious, you know, national debts.
25:27Most people don't realize this, but um
25:32so by Iran shutting the straight,
25:38they know it's not going to hurt us
25:40other than the standpoint of um gasoline
25:45prices rising.
25:47Okay? It's not like the 70s where they
25:50could bring us down to our knees because
25:51we're basically self-sufficient.
25:54However,
25:56it does affect Europe and affects Asia.
25:59All right? But
26:02beyond that, shutting down the straight
26:06means that the Gulf States can't sell
26:10oil.
26:11If they can't sell oil, they default on
26:15their loans. that goes right back to
26:17London.
26:19They've been attacking the they've
26:21attacked the refineries.
26:24So,
26:26um this is more than just trying to send
26:30the price of oil higher.
26:33This that's why I say they're playing 3D
26:35chess.
26:36And
26:38I mean, their end goal here uh is to
26:41push the US out of the Middle East.
26:45and [clears throat] they're kind of
26:46getting, you know, by now threatening
26:48the Gulf States. If you line with us,
26:50you're a target. You
26:54they've attacked Jordan. Um,
26:58this is why they're doing that.
27:01Um, and
27:04on top of all that,
27:08look, they're Persians, they're
27:10Caucasian, they're not Arab. Most people
27:13don't realize that. All right. Um,
27:17Persians are an ancient race.
27:21They've been, you know, fighting with,
27:23you know, Israel for a long time. Uh but
27:28um when you look at all this stuff
27:31and you have to realize that they are
27:38also when I say they're playing 3D
27:40chess.
27:43What they did they do in 79
27:46they took the American hostages to
27:50basically bring Jimmy Carter down.
27:53They released the hostages the very
27:56first day Reagan won. He didn't have to
27:59do anything.
28:01They are playing this 3D chess with
28:04politics.
28:06They know
28:08why in God's name would they give up
28:10now, keep it going, and they'll flip
28:17uh
28:18Congress. They'll flip flip the House.
28:21You got people in in Trump's
28:24administration leaving.
28:27They see the writing on the wall.
28:30All right. So, [clears throat] they're
28:32looking at basically impacting US
28:36elections.
28:37On top of that,
28:40Netanyahu goes to elections beforehand
28:45in October.
28:46His
28:49[clears throat] opposition is already
28:50saying, "What have you accomplished?"
28:53Nothing.
28:55There was no regime change. They still
28:57have their nukes. That was all the
28:59excuse. They're still there. You failed.
29:03This is what his opposition's saying.
29:07Okay. If you look at the polls in
29:09Israel, 61% don't like the guy.
29:14Um, so why
29:17would Iran settle anything before the
29:21elections? They know what they're doing.
29:25They did the same exact play in 79.
29:30All right. Um, Trump has used up so many
29:34of our missiles and that's why he said,
29:36"All right, fine. We'll use sanctions."
29:38Because he's being told, "Hey, you
29:42continue this. we can't replace this
29:45stuff for, you know, three years.
29:50And
29:52um I can tell you from Asia that Taiwan
29:56is kind of pissed off because they're
30:00saying that one that
30:03um
30:06they think that um Trump can no longer
30:10defend them. You're suddenly seeing
30:13North Korea and South Korea, the
30:15tension's rising again.
30:18All right.
30:20Mcronone went to China before Trump went
30:27and he said
30:30they will no longer participate in any
30:33military action outside of Europe. So he
30:37cut off the Middle East.
30:40But he also told Jing, according to our
30:43sources over there, that he guaranteed
30:47that NATO and Europe would not interfere
30:51in Taiwan.
30:54So he gave China as a green light to
30:57take Taiwan.
30:59when Trump went there.
31:02Um, they tried to keep it a secret as
31:04much as possible, but
31:08that's what Jen then put on the table.
31:10Where do you stand?
31:14And when Trump left, just look at his
31:16statements.
31:18I recommend the chip companies move to
31:20America.
31:24Um,
31:25as I've said before, I mean, look, and
31:28I've warned them, you're going to have
31:30war on four fronts. You cannot defend
31:34this.
31:36All right? You're going to have Korea,
31:38North and the South. Um, you got China
31:42versus Taiwan in the Southeast Asia, you
31:44know, corridor.
31:46You got Europe and Ukraine against
31:48Russia. And then you got the Middle
31:50East.
31:52Do do you think that's what they want,
31:53Martin?
31:56>> What? The US?
31:57>> Yeah, US and Europe.
31:59>> I think absolutely. The people there are
32:02just stupid. Um,
32:06look,
32:08when I was called in, I was told I was
32:11going to be given a briefing on Russia.
32:14>> How long ago was that?
32:15>> How long ago was that, Martin?
32:17>> Uh, that was the end of the year.
32:20So I said, "You want me to you want to
32:22brief me on what you're doing in
32:24Russia?" So I went I took my assistant
32:27Hannah with me. We get there, she has to
32:29leave the room. This is national
32:31security. So what the hell's going on
32:33here?
32:36Um
32:37then they tell me they wanted me to
32:40write the peace plan to present Putin.
32:44And I say, "Excuse me?"
32:47And they also added, "We want you to use
32:50your back channels." I said, "So, you
32:52want me to get this on Putin's desk
32:54myself?" Yes.
32:58All right. I did. I asked them, "Is this
33:02sanctioned?"
33:03Because in Washington, you know, it
33:04could be one clandestine group against
33:07another sometimes.
33:10And they swore it was sanctioned.
33:13All right. So, I did it.
33:15I then got a letter from Trump about
33:18three weeks later thanking me. So that
33:21raises a serious question.
33:25All right. Why [clears throat] are you
33:26calling me in to do something that the
33:29State Department should have done?
33:33To me, it's a red flag warning that
33:37there is a division here. And I know
33:40Rubio is more of a neocon.
33:44So perhaps they didn't want to
33:49um
33:51also because what I went through
33:54um Putin knew that I wasn't involved in
33:57the 2000 attempt to um
34:01basically you know overthrow Yeltson and
34:04all that stuff. Um,
34:07and I was told, you know, that sorry
34:10what was done to you. Uh, I've been told
34:13many times. Uh, but it gave you more
34:16credibility.
34:18So, I guess if it came from me, it was
34:21seen as more legitimate than if it came
34:23from Rubio. I don't know.
34:26It it just makes no sense to me other
34:28than
34:30um
34:32there is some sort of a rift here. And I
34:35think the you have these neocons that
34:41escorted Netanyahu into the situation
34:44room to start this whole All
34:47right. No other fed, you know, leader of
34:50a foreign country ever went into the
34:52situation room.
34:55So there were clearly people
34:59um on Netanyahu Netanyahu's side to
35:04start this.
35:06And [clears throat] my sense of it is is
35:10that they didn't
35:14inform Trump um of the risks and they
35:20most likely presented it as another
35:23Venezuela. We'll kill the Ayatollah on
35:25day one and everything will fail.
35:29And
35:32I can tell you after 25
35:35and that uh attempt there
35:38uh Netanyahu tried to assassinate well
35:41he did assassinate some of their
35:42military leaders.
35:45That's his MMO.
35:48He always tries to assassinate the head
35:50of any group or or country or whatever
35:54and he thinks that he's going to win
35:55that way.
35:57So Iran
36:00understood his u tactics and then they
36:04set up uh they reorganized the
36:07government, decentralized it and created
36:10four tiers
36:12and you can look back on
36:16Rubio's comments and negotiations. He
36:20said we're now dealing with the third
36:22tier.
36:24Okay.
36:27In the United States, we're centralized.
36:31If you took out the president, the vice
36:33president, and the speaker of the house
36:36in some meeting,
36:38who who's running the ship?
36:41Constitution doesn't go beyond that.
36:44You'd have to have elections. You know,
36:47it would be chaos. All right. So
36:52I can tell you from our sources in Asia
36:55that Taiwan has looked at Iran and has
36:58adopted that model.
37:00They have decentralized. So if you take
37:03out the head of state,
37:06it doesn't stop the war.
37:09Um so it's crazy. What about in regards
37:13to Iran? Because one of the other things
37:15that the speculation was Besson's
37:16talking about some major financial
37:18sanctions on that country. Now I had um
37:22her name is Sarah Bills from DD
37:23Geopolitics and she was there not that
37:25long ago and she said you know there was
37:28transactions you were able to move buy
37:31things currency
37:33um uh and you know it was she what she
37:37saw
37:38you know people were buying things
37:40wasn't like dire so what kind of
37:43sanctions could they do to Iran based
37:45upon
37:48how could they hurt
37:50He can't. I mean, the only thing he
37:52could do is basically blow up the
37:54railroad between Iran and Tyrron and
37:57China. But then I think you're going to
37:59bring in China um because they built a
38:02whole railroad there to get energy from
38:05um Iran over land so they don't have to
38:08go through the straight uh to China. Um
38:12and this is the other problem here. Um,
38:17these neocons,
38:19they think that just cuz you have the
38:22biggest military doesn't mean you
38:24automatically win.
38:27All right. Um,
38:30my son son has a Bernice mountain dog. I
38:34have a a French bulldog and he says,
38:37"Your French bulldog could tear my dog
38:39apart.
38:41He's small, can move an Uvere faster
38:43than the big. You know, just because
38:46you're the biggest doesn't mean you win.
38:49All right. Um
38:52Rome lost. Um Alexander the Great lost.
38:55I mean, this is the way it goes.
38:58Somebody smaller can be more effective.
39:01We beat England. How? Grow a warfare.
39:07All right. Just because you got the
39:09biggest army doesn't mean you win. And
39:13these people are complete idiots. Um
39:17they don't seem to take anything in uh
39:20consideration. I've seen the war game
39:23models.
39:25Every model before all this started
39:28said Iran would take the straits of
39:30Hermoose.
39:32I mean it's logical.
39:37So, I don't I don't get it. I really
39:39don't get it.
39:39>> What What would they What would they
39:41even What would Besson get up there and
39:43say in terms of like selling the or what
39:45what would his idea be in terms of
39:48economic sanctions on Iran? Like what
39:50what in his mind I know you're not in
39:52his head, but what would they think that
39:54they could do to them at this point?
39:55Because they've learned how to live
39:57without like they don't have credit card
40:00merch. They don't have a Swift system
40:02and and they're able to operate. They
40:04can function.
40:05So, what could what could the United
40:07States in their heads think they could
40:08do economically?
40:10>> I don't know. I think it's just mostly
40:12propaganda. Um,
40:15and
40:17it's pounding your chest. We're the
40:19biggest, so we're going to win sort of
40:21sort of thing. Um,
40:23you know, Iran,
40:25>> I mean, Bitcoin, right? Didn't they take
40:27their Bitcoin or didn't they ste
40:30confiscate their wallets or something?
40:33>> Yeah. Um,
40:38look, before all this stuff, the world
40:40functioned when it was just cash, right?
40:43We didn't have credit cards, we we
40:45didn't have electricity, a lot of
40:47things, it still functioned. Um,
40:52as long as they have a railroad off to
40:57Asia,
40:58I don't know how you're going to stop
41:00it. you know would you know
41:04the the risk here I mean if they really
41:07tried
41:09something stupid you could bring in
41:11China
41:14um
41:15look I've warned them if if I was on the
41:18other side and they they kind of laughed
41:20at me but I said look if I was on the
41:22other side
41:24I would use Iran to drain all your
41:27resources the way you have used Ukraine
41:30to drain Russian of resources
41:33and they just look at you like well they
41:36wouldn't do that as no they will that's
41:38what I would do um [clears throat]
41:41and then you got Russia Mayan Zalinski
41:47[clears throat]
41:48has actually opened up and said um
41:53you're gonna [clears throat] Google this
41:54up he said attacking everything in in
41:58Russia he's trying to to influence their
42:02elections in September.
42:05Now,
42:07I'm sorry. I can't imagine
42:11he's that stupid
42:14attacking
42:16domestically inside Russia. You think
42:20that's going to make them say, "Oh,
42:22sorry. We quit the war." you know,
42:26you're going to basically
42:29give a shot to all their neocons
42:32who will probably win in September. And
42:35that's what I believe
42:38you're seeing from the CIA. Oh, Russia
42:41can is going to invade Europe in a
42:43matter of weeks.
42:45They brought the timeline down because
42:48they're expecting
42:52and I think maybe Zillinsky has been
42:54following orders.
42:56Attack Russia to make sure they get the
42:59hardliners in charge.
43:02They want war.
43:05Putin is is not a wararmonger. He knows
43:08where this goes. He's the one who has
43:11said nuclear weapons are off the table.
43:14You got Medaf and the other people ready
43:17to push the button.
43:20So if they will probably win the Duma
43:24elections in September. So then they get
43:27more aggressive.
43:30I don't think Putin's going to have a
43:32choice.
43:34They have changed the definition. If you
43:37look that up,
43:41um it was before a special operation
43:46and that was to protect the Russians in
43:49the Donbas, not to conquer Ukraine.
43:53Now, couple weeks ago, the Kremlin
43:57changed the definition. We are now at
44:00war with Ukraine.
44:03That's a significant difference.
44:07All right. So now,
44:11um, they are at war directly with Kiev.
44:15This is not about just, you know,
44:17protecting the Donbos anymore. Um, so
44:20you got that perking up. Then all of a
44:23sudden you got uh South Korea saying,
44:26"Well, we're going to split because we
44:28have to militarily raise ourselves up
44:31because they're afraid the US doesn't
44:33have the missiles to do so.
44:36You got Taiwan already complaining
44:39behind the their curtain. Do you even
44:42have any missiles to support us?
44:46You know, they have
44:48done a hell of a job of training our
44:52stockpiles all for Iran and they're
44:55still there.
44:57>> How much faith do you have in these
44:58election systems?
45:03I think you know
45:04>> in Israel for example or anywhere else
45:08really
45:10>> Israel is probably
45:13uh more at risk and and so is Ukraine.
45:17Uh my people that were there nobody
45:21believed that Zillinsky ever even won.
45:24Um,
45:27one of my sources, Eric Gonzalez, uh,
45:30Laura, I think you knew him.
45:32>> Yeah, I did the I told you I did the
45:34last interview with him.
45:35>> Yeah. Uh,
45:37he's the one that basically exposed that
45:40Zilinsky was a cokehead
45:42and um they threw him in prison and
45:47miraculously he dies of pneumonia. How
45:49about that? Um, didn't he let what was
45:52this? What I don't remember about that
45:53because he got out for like a day or
45:56something, didn't he?
45:59I don't remember that. But
46:02um, look, [clears throat] even
46:06you take the Southern District of New
46:08York,
46:10nobody believes Epstein committed
46:12suicide. Come on. Um, anybody that they
46:17couldn't possibly allow him to have a
46:20trial, he's going to put Bill Clinton on
46:22the stand and everybody else. All right.
46:25Anybody that's going to have
46:29uh a trial that would expose the
46:31government magically commit suicide.
46:37Another mafia guy in New York City,
46:40suicide.
46:41This is not so uncommon in the southern
46:43district of New York. Why do they put
46:46Maduro from Venezuela on trial in New
46:49York?
46:49>> You don't even hear about him.
46:50>> It's the most corrupt one in the around.
46:53>> You don't even hear about him anymore,
46:54Martin. I don't know the last time I
46:55heard his name. What What happened to
46:57him?
46:59They probably have him in the hole um
47:03waiting for him to deteriorate or
47:05something. So suddenly he'll um have oh
47:09he commits suicide
47:13or died of pneumonia or some nonsense.
47:15But they're not going to put him on
47:17trial.
47:20any high
47:23profile
47:25case like that never goes to trial
47:30and they're all sent to the Southern
47:32District of New York.
47:35Are you surprised Glenn Maxwell's still
47:37alive?
47:44>> Depends how much she knows.
47:47I can tell you this much. Um,
47:53Epstein was in league with her father
48:00and
48:03they were part of the club that I always
48:05fought against. All right. He lost I
48:09think about 400 million pounds on one of
48:12these manipulations that failed. He then
48:17um
48:19according to an email that was in uh
48:23Epstein's files,
48:25he was trying to blackmail Israel to
48:27cover his losses and suddenly he falls
48:31off his yacht and dies. But there's more
48:34to it than that. Um,
48:39as you know, I had been uh there was an
48:42attempted regime change
48:45in in Russia.
48:48I was asked to put in $10 billion. I
48:51refused and the company they want me to
48:53put it into was Hermitage
48:56Capital. Um, so what happened was that
49:00was a company set up by Bill Brder and
49:03Evan Saffra
49:06and I was told they were going to they
49:08blackmailed the Yelson.
49:12They got him to send $7 billion to
49:15Geneva to some fake uh refurbishment
49:19company that nobody ever heard of. Um
49:22and then they
49:24went told the you know the the
49:27[clears throat]
49:27government oh Bank of New York just did
49:29a money laundering. So the they go in to
49:32the Bank of New York and they told
49:34Yelson if you don't resign and put in
49:38Barisnowski
49:40all this is going to come out that you
49:42did that.
49:44At the same time,
49:47Yelson was getting um basically
49:53uh inundated with uh motions for
49:55impeachment from the right side, the old
49:59communists. Um
50:02but how did Yeltson get there?
50:07Maxwell
50:10was involved in funding the coup against
50:13Gorbachev.
50:15Okay. Um
50:19Yelson ends up they they took
50:23Gorbachov was
50:25um at a a a place for vacation. They
50:30surrounded it. Wouldn't let him out.
50:34Um Yelson stood on the tank in Russia
50:40and told the military, "Don't fire on
50:43your own people." They didn't.
50:46And when they didn't, that's when the
50:48coup collapsed.
50:50That was all funded by Maxwell. And the
50:52deal was
50:55he would fund the coup. Israel would
50:57recognize
50:59um the new coup government as the
51:02legitimate government of Russia. All
51:05right? And the deal was they were going
51:07to open the floodgates and allow all the
51:09Jews from Russia to go to Israel. That
51:11was the deal.
51:14All right. Yelson now realizes he's
51:18getting blackmailed by the neocons in
51:20the US and he's got impeachment motions
51:22from the communists on the other side.
51:25That's when he turns to Putin.
51:29And despite all the about
51:31Putin,
51:34the PE, he had like a over 70% approval
51:37rating. Why? Because they knew he wasn't
51:40a communist. He wasn't going to take the
51:41country back that way. And two, he
51:44wasn't one of these oligarchs.
51:48Um,
51:49so he stood in the middle. And that's
51:51why Yeltson put him in. Um, I mean, this
51:54is
51:56I've been through all this stuff. I had
51:58a front row seat.
52:00Um, I know what really happened and it's
52:03just it's disgusting, but this is the
52:06way it is.
52:07>> How bad do you think all this how bad do
52:09you think things are right now in
52:11comparison all all the all the time that
52:14you've been covering this in your
52:15experience? How bad is this?
52:20I really think
52:23there are some actors behind the scenes
52:26who have been putting people in place.
52:29Um, all these [clears throat] heads of
52:31states, we've got the worst crop of
52:34heads of states that I've ever seen in
52:36my
52:38more than 50 year career. All right. Um,
52:41[clears throat]
52:45as you know, back in in 99, I used
52:48before then I was part of the vetting
52:50process.
52:52They would send me in to go meet with
52:54somebody who wanted to to run for
52:56president. And it was like
53:00I was there to explain how the world
53:01works and we're all connected, etc. And
53:05I would get back and it was really a
53:07vetting process. And then they would ask
53:09me, "What do you think? Is he smart
53:12enough to handle this?" etc. And I'm
53:16like the governor of Oklahoma and all
53:18this stuff. So,
53:20um, then all of a sudden I was asked to
53:24go meet with Bush Jr. and Texas. I said,
53:27"Okay, fine." But then they said, "This
53:29one's different." I said, "What's
53:32different?" He said, "No, he's really
53:34stupid."
53:35was it 180 degrees from what we were
53:37doing? And I looked at him, I said, "Why
53:40would you make somebody stupid
53:41president?" And they said, "He's got the
53:44name so we can win."
53:47So
53:49they picked his cabinet, they picked
53:52Cheney. Bush had nothing to do with
53:54this. Um I was even offered chief
53:57economic adviser in the White House. I
54:00said, "No, I'm not giving up my company
54:01for this."
54:03Um, so
54:07this is why when Trump first went in,
54:10now there's a documentary by General
54:13Flynn you can watch. He also
54:19said the same thing I did. Now when
54:21Trump first went in in 2016, he was
54:24naive. He believed the system was real,
54:28etc. All right.
54:32They picked his cabinet.
54:35They said, "Oh, you're not a politician.
54:38Uh, you don't really know how this
54:40works. And to give confidence to the
54:42world, we need people that are uh are
54:45qualified in the cabinet." They suck in
54:48John Bolton. And so, every one of them
54:50were stabbing him in the back.
54:53All right. They were [clears throat] not
54:54about to allow him to actually uh do
54:58anything.
54:59So the second time in, look at what he
55:03did.
55:05He picked his cabinet before he even got
55:09to Washington.
55:12He understood the game this time.
55:16Um, and that was basically a shot across
55:19the bow of the neocons.
55:22Screw you. You're not doing this to me
55:24again.
55:25Um,
55:27that's why I kind of think that there's
55:29a rift going on here. Um,
55:33that
55:36calling me in to do something that Rubio
55:38should have been doing. It just makes no
55:40sense. U, so there's got to be a
55:42division going on here. Um, that's just
55:46my opinion.
55:49what um you know one of the things we
55:51didn't talk about is uh when we talked
55:53about Bessin but also with Walsh and the
55:56Fed and their role in all this
55:58domestically
56:00um you know with the potential the bond
56:03buyback that Besson is proposing I I
56:06read upwards of a trillion dollar fund
56:08you might announce
56:12look
56:16when they did the quantitative easing
56:17came before.
56:20Um, I warned them
56:23it's going to fail.
56:25You're not going to create the inflation
56:26you think. So, I don't think it's this
56:29time that he's trying to do the
56:31inflation stuff. I think he's just
56:34trying to bring the interest rates down.
56:36Uh but
56:40what people don't look at is about 23%
56:44of the national debt is funded short
56:46term, not long term.
56:50That makes us extremely vulnerable.
56:55Um a rise in geopolitical issues
57:00globally sends interest rates up. the
57:03short-term rates go up. The Fed can only
57:07control the short term.
57:10All right?
57:12Because you got 23%.
57:15Short term,
57:17if you can't sell it, you know, it goes
57:20up for auction and it's the free market.
57:23It sets the price.
57:26It's not Bessant or Walsh or anybody
57:29else. Um, and that's why they go in to
57:34try and buy back long-term debt because
57:37they have no control over the interest
57:39rate.
57:41That's what the whole quantitative
57:42easing stuff's about. Now, why did I say
57:45it would fail before?
57:48They make the same stupid mistake over
57:50and over again. All right, sounds nice.
57:54We're going to buy in a trillion dollars
57:56worth of bonds to ease the interest
57:58rate. Okay. Um, back then it was we're
58:02going to that will inject money into the
58:04economy.
58:07It failed.
58:10Why?
58:11Because they assume
58:14that I'm going to buy in the these bonds
58:17and it's going to be an American selling
58:19it to me. So therefore, the money's in
58:21the system and we expand it.
58:24Just look at what China did. They said,
58:26"Oh, you're buying all the bonds. Thank
58:27you very much." They sold they moved the
58:30maturity down by less than five. All
58:32right. So the money went out of the
58:33country. Then you had these other brain
58:36dead economists. Oh, MMT see they
58:40increased all the money supply and there
58:41was no inflation. We can print whatever
58:43we want. I mean it's [clears throat]
58:47I'm shocked at the lack of
58:51intelligence and all this stuff. They
58:54Nobody seems to look beyond our borders.
58:58I mean I it I find it really appalling.
59:01It's we are all connected and
59:05look US was virtually bankrupt in 1896.
59:09That's when JP Morgan had to arrange a
59:11100 billion uh gold loan.
59:15It was World War I and two that made the
59:19United States the financial capital. It
59:22was London before. No politician here
59:24said vote for me. I'll make the US the
59:27financial capital of the world. Nobody
59:29ever said that.
59:31It was World War I and World War II that
59:34caused that. The 29 crash.
59:39Why was that completely different?
59:41Because all the capital was here,
59:45it was a capital concentration
59:48that sent the market up dramatically. It
59:51was kind of like the.com bubble but over
59:54um automobiles.
59:58That was the new technology.
1:00:01Um you go through these technological
1:00:04shifts. Um right now it's AI. Um
1:00:11and these people are like, "Oh, there's
1:00:14going to be a big crash. Crash of the
1:00:16century."
1:00:19Why? because they just look at a chart
1:00:21of 29. They look at a chart of US. They
1:00:24have no clue what the fundamentals were.
1:00:29There was a sovereign default 1931. You
1:00:31can read Herbert Hoover's memoirs 1931.
1:00:35All of York default, most of South
1:00:36America, Asia, all right, permanently
1:00:39defaulting on their sovereign debts.
1:00:41That wiped out like over 9,000 banks.
1:00:45All right. And
1:00:48Herbert, you know, Hoover in his memoir
1:00:50said, "Capital acted like a loose cannon
1:00:53on the deck of a ship, like in the
1:00:54middle of a hurricane, shooting off in
1:00:57every which direction so fast they
1:00:58couldn't form a committee quick enough
1:01:00to see where it was going next.
1:01:04Read it. That's what a contagion is all
1:01:07about." Uh, US had a balanced budget
1:01:10back then. So the capital came here, the
1:01:14dollar went up to record highs.
1:01:17Everything's different this time.
1:01:20We don't have a balanced budget.
1:01:23All right. Um we have capital fleeing
1:01:25governments.
1:01:27Uh the stock market despite everybody oh
1:01:31it's going to crash. It may kept making
1:01:33new highs. Why?
1:01:37You're sending missiles at Dubai.
1:01:40Whatever. We have offices there. I know
1:01:43what institutions do. Okay. Hey, I gotta
1:01:48get some money the hell out of here.
1:01:51They tend to buy the blue chips, not
1:01:54IPOs.
1:01:57So, when you see the Dow leading, that's
1:02:00foreign money coming in.
1:02:03Same thing from Japan. I've heard
1:02:05nothing about, you know,
1:02:08we got to get the hell out of here.
1:02:11uh all this nonsense about oh
1:02:15that's uh supporting Japan because he's
1:02:18afraid he's going to sell bonds really
1:02:22the bulk of the holdings of US
1:02:24treasuries in Japan are by corporates as
1:02:27a hedge against their own government not
1:02:30the central bank
1:02:32um
1:02:34I don't know I mean people just put up
1:02:39theories ries and basically
1:02:42without understanding the world economy
1:02:45or who's on you know first anywhere. Um
1:02:49it's complicated. Yes. Um
1:02:55look you know it's why we have offices
1:02:58around the world. We got to look at
1:02:59everything through everybody else's
1:03:01currency eyes.
1:03:04Um
1:03:05that's that's that's life.
1:03:08H has your um view changed at all? I I
1:03:13see the I see the pro dollar people and
1:03:16the people that think the dollar is
1:03:17going to collapse and you you don't
1:03:19believe the dollar is going to collapse.
1:03:23Just like you don't believe the deep
1:03:24states in Iran and that's why they're
1:03:26bombing.
1:03:27>> All right. So the dollar is going to
1:03:28collapse. What are you going to buy?
1:03:31The euro?
1:03:33Japan?
1:03:35Where you going to go?
1:03:38We're the prettiest of the three ugly
1:03:40sisters. All right.
1:03:42Um,
1:03:45capital comes here in geopolitical war.
1:03:49Um, Europe wants war with Russia. You're
1:03:52going to leave your money there.
1:03:56You might have tanks running down the
1:03:58street blowing up banks. You're going to
1:03:59leave your money there? Come on.
1:04:03Um,
1:04:05>> so much money's left Dubai and came over
1:04:08here already.
1:04:08>> The Chinese,
1:04:09>> same things happened in Japan.
1:04:11>> What about the Chinese currency? What is
1:04:12it? The the Juan.
1:04:16>> The big problem with the one is the
1:04:20question of the rule of law.
1:04:23Um,
1:04:25if you invest there, let's say I'm going
1:04:26to buy all this land. Somebody up comes
1:04:30up and says, "No, I think it's mine.
1:04:32Do you win in court? Can you go to
1:04:34court?
1:04:36You need the rule of law first before
1:04:38you can um have a free capital market.
1:04:44That's essential.
1:04:46Um when you get these governments
1:04:49playing with um
1:04:52taxation and stuff, I mean, it's nuts. I
1:04:57mean, it it's they don't know what the
1:04:59hell they're talking about. You know,
1:05:01I've advised up in Alberta. I said,
1:05:03"Okay, fine. They want to separate from
1:05:05the East."
1:05:07Uh, it's going on their ballot, I think
1:05:09October 19th.
1:05:14I had a, you know,
1:05:16there were a whole bunch of different
1:05:18theories. One, they remain within
1:05:20Canada, but they're separate somehow. I
1:05:23said, "That's not going to work." Others
1:05:25were saying, "Well, we'll just adopt the
1:05:27dollar."
1:05:29I that's not going to work because now
1:05:30you're going to be subject to uh
1:05:32interest rate changes from the Fed
1:05:35that's got nothing to do with your area.
1:05:38So, I I've told them, you want to really
1:05:42separate, you got to create your own
1:05:45central bank, your own currency.
1:05:49What do you do?
1:05:51You can make the currency convertible to
1:05:53gold. fine at current market level so
1:05:56you don't fix it like Brentton Wood
1:05:58stuff that will be just disastrous
1:06:02then I explain
1:06:05um you eliminate income tax on
1:06:09individuals a corporation will have a
1:06:1210% tax
1:06:15all right
1:06:16um I've testified before the house ways
1:06:19and means committee on this stuff um
1:06:22Florida we have no income tax.
1:06:26There's a corporate income tax. We got a
1:06:29balanced budget.
1:06:32It can be done if you are sensible about
1:06:35what you're doing, you know. And I told
1:06:39you eliminate income tax on individuals.
1:06:44It's so important,
1:06:46you know. Um I got to meet Margaret
1:06:48Thatcher.
1:06:51Why?
1:06:52because
1:06:56um I happened to have known her chief
1:06:58economic advisor, Sir Alan Walters, and
1:07:02I was restructuring companies from
1:07:04Japan, etc. when to get into Europe. If
1:07:08they needed the best tax deal, like the
1:07:10airlines, I was putting them in in
1:07:12Ireland.
1:07:14But if they needed skilled labor like
1:07:18auto manufacturers, etc., I was putting
1:07:20them in Britain.
1:07:22So
1:07:24she had heard she thought it was maybe a
1:07:26conspiracy theory
1:07:28some guy sending companies here to
1:07:30Britain and
1:07:32Allen said uh yeah that's Marty there is
1:07:37a guy he said yeah so she went to meet
1:07:40me
1:07:42I explained to her if I paid the
1:07:45employee the very same amount of
1:07:48take-home pay
1:07:50and Britain versus Germany.
1:07:53In Germany, it would cost the company
1:07:5640% more. All the other regulations on
1:08:01top of that.
1:08:05So,
1:08:07the best thing I told like I told
1:08:11[clears throat] them, look, I put a
1:08:12company down in in Macedonia. Why?
1:08:16Because I got a 25-year guarantee, no
1:08:19tax increase.
1:08:21You can't expect a company to come in,
1:08:24spend a billion dollars, build a plant,
1:08:27the tax rate's 10%. Oh, I need more
1:08:30money because I got a mistress and my
1:08:32kids got to go to school, so I'm going
1:08:33to make it 12 now. Sorry, doesn't work.
1:08:38All right. Um, if there's no guaranteed
1:08:41deal,
1:08:43[clears throat] it's too risky. I spend
1:08:45a billion dollars to create a plant am
1:08:48I'm profitable there. You now make it
1:08:5115%. I'm not profitable.
1:08:55Um
1:08:58but these politicians
1:09:01um are brain dead.
1:09:03Look at California. Oh, a billionaire
1:09:06tax. They don't even understand
1:09:07anything.
1:09:09They act as if these guys have a billion
1:09:12in cash in a checking account.
1:09:15It's stock valuation.
1:09:19So you put a 5% tax on that. What's it
1:09:22do? It forces them to sell stock to pay
1:09:27the tax.
1:09:30Then what happens? Most of these guys
1:09:32keep a razor thin amount to to retain
1:09:36control.
1:09:38If they then have to sell stock that
1:09:41paid such attacks, they may lose control
1:09:44of their company. So they leave.
1:09:48I mean, if you do not understand
1:09:51how the world economy works, you have no
1:09:54business in these positions.
1:09:57>> You're just complete idiots.
1:09:58>> Do you think in the end, do you think
1:09:59Alberta Alberta will separate from
1:10:01Canada or it'll just it's just a dream?
1:10:04The polls were very everybody I spoke to
1:10:07was basically
1:10:09um
1:10:11very pro getting the hell out. Um
1:10:15the reason for this
1:10:16>> but you think they'll let it happen
1:10:18Martin if Canada says I I'm very
1:10:20skeptical of elections anymore. So if
1:10:22the powers that be say no you're not
1:10:24going anywhere
1:10:27>> it may be a real fight. Um
1:10:32but before
1:10:34um
1:10:36Roosevelt,
1:10:38you can look at a newspaper from 1927 or
1:10:41something and we'll list all the
1:10:44branches of the Federal Reserve. They
1:10:47were all independent.
1:10:49So you'll see there's 4% here but 3%
1:10:51there, etc.
1:10:53Um
1:10:55the Fed was originally set up in a
1:10:57brilliant manner.
1:11:00It was following the 1906
1:11:03um San Francisco earthquake. All the
1:11:06insurance companies were on the east
1:11:08coast. The money had to go to the west.
1:11:10So they ended up with bank failures in
1:11:12New York because there were shortages of
1:11:14cash.
1:11:16So the idea was
1:11:20to create the Fed with these branches
1:11:22and each one was independent. So if
1:11:24there was a shortage of cash in Kansas,
1:11:27they'd raise their price to 4% when
1:11:29everybody else was three to attract
1:11:32money.
1:11:33Or if there was too much money,
1:11:35everybody else is three, they'd lower to
1:11:37two to get it the hell out.
1:11:41Canada. Roosevelt came in in 35
1:11:46with the banking act and what he did was
1:11:49he usurped all that power.
1:11:52The head of the Fed used to be the
1:11:54secretary of treasury. He created a Fed
1:11:57chairman, seized control, and then one
1:12:01sizefits all for everybody because he
1:12:03was more concerned about
1:12:07uh simply
1:12:09uh getting socialism through
1:12:13Canada followed the United States.
1:12:17So back in the 80s I dealt with in
1:12:20Canada, they were raising interest rates
1:12:23because of a real estate boom in
1:12:26Toronto.
1:12:29Meanwhile, in the West, um they were
1:12:33putting farmers and and miners into
1:12:36bankruptcy.
1:12:38We've always called it the Texas New
1:12:40York arbitrage.
1:12:42When Texas was booming, commodities are
1:12:45up, inflation's high, and New York
1:12:46screaming.
1:12:48When New York is doing good, commodities
1:12:51are on the on the lows and they're
1:12:54screaming in Texas. So, we always called
1:12:55it the Texas New York arbitrage.
1:12:59Um, that's what happened in Europe. I
1:13:01mean, in Canada. So, the East Coast more
1:13:04financial oriented, West Coast is
1:13:06commodity oriented, completely different
1:13:08economies.
1:13:10So that's why I said you should split.
1:13:14If you really want independence, take
1:13:17care of your own people and
1:13:20your government
1:13:22um and corporations. You need to split
1:13:26otherwise not going to work. So I I'm
1:13:30looking down. I got an alert saying uh
1:13:32Bessant calls this is now is quoting him
1:13:36is now time for world leaders to make
1:13:38the decision between America and Iran
1:13:42and I'm seeing highlight somebody
1:13:43somebody wrote this is D-Day
1:13:50whatever that I I I obviously I haven't
1:13:52had a chance to watch it because what
1:13:53you and I have been talking but um
1:13:58another quote while we were bombing Iran
1:14:00they for bombing Gulf countries. So
1:14:02appeasement doesn't work with Iran.
1:14:06That's another quote from Scott about
1:14:09Iran making a statement. You're either
1:14:12with us or against us. If you line up
1:14:15with the US, you are now a target.
1:14:18That's what they said a couple days ago.
1:14:19>> Well, and then Bess
1:14:21Besson just quoted Oh, sorry. US to end
1:14:24dollar access to those laundering Iran
1:14:26money.
1:14:33There's no solution to this. [laughter]
1:14:40What? So,
1:14:42where does this go?
1:14:45It's only going to get worse. Um,
1:14:51if the Gulf the Gulf states are hedging
1:14:53a bit right now, uh,
1:14:58the real question becomes, do they align
1:15:02with Iran?
1:15:04realizing that the US cannot actually
1:15:07protect them
1:15:10and if they align with Iran that Iran's
1:15:15goal, as I said before, is to push the
1:15:18United States out of the Middle East.
1:15:23So that's what we're dealing with here.
1:15:28How will it affect on the home front
1:15:29here for regular people?
1:15:35Well, I you know it's u if they do
1:15:40um
1:15:43choose Iran,
1:15:45then Iran won't bomb their refineries
1:15:49and
1:15:51uh if they choose the US,
1:15:53um Iran can take out the refineries
1:15:57and then you're looking at at oil going
1:15:59up to like 200 bucks by by 28. Hey.
1:16:03Um,
1:16:06as it stands now, you get it, you know,
1:16:09um, I mean, even a a weekly close on
1:16:14crude above 95 and a half, um, is going
1:16:19to say we're pressing higher.
1:16:25I uh I'm glad we went a little bit over
1:16:27just so I could talk to you about this
1:16:28because I'm just seeing the just seeing
1:16:30the um I haven't been able to watch it,
1:16:31but just seeing the quotes of what
1:16:33Besson's been saying in this press
1:16:35conference. Um last question for you.
1:16:39How much uh energy are you focusing on
1:16:41the midterms?
1:16:43How important are they in your eyes?
1:16:47Well, they're important because I think
1:16:49what you're going to get um is a high
1:16:52probability that the um the House will
1:16:57flip to Democrat.
1:17:00What will that do? You're going to see
1:17:03um nothing but obstruction.
1:17:06Um this is what politics has come down
1:17:09to. If Trump says the sky is blue, they
1:17:12have to say it's red. Um, you go back
1:17:15and you'll see the Democrats opposed
1:17:18NAFTA initially. Now Trump wants to get
1:17:22out of NAFTA. Oh, what are you talking
1:17:23about? We support NAFTA. You know, it's
1:17:27nobody,
1:17:28honestly, bluntly, nobody gives a
1:17:31about the country anymore.
1:17:33It's I just got to win. Um, so I would
1:17:37expect they'll do an impeachment motion,
1:17:40but the Republicans will probably hold
1:17:42the House, I mean the the Senate. So any
1:17:45trial will be in the Senate. So I don't
1:17:47see that is actually getting anywhere.
1:17:51But um just obstruction
1:17:55making headlines. Oh, Trump's been
1:17:57impeached again. You know, um
1:18:01you know, the press will love that. I
1:18:03mean, they hate Trump to begin with. Um,
1:18:06so they'll feed it. And all of this will
1:18:10only ensure that we don't have any real
1:18:15uh advancement or anything going into
1:18:1828.
1:18:20Uh, from what I heard, they're going to
1:18:22go after uh his family, stuff like this
1:18:25on uh how much they've made. I mean, all
1:18:28this stuff is then comes on the table.
1:18:30It's just going to be a, as they say,
1:18:33it's going to be a real food fight. You
1:18:34know,
1:18:36>> where can people find you, Martin?
1:18:39>> Um, go to armstrongeconomics.com.
1:18:43Um, you don't have to put in any emails.
1:18:45It's all free. We try to be a um
1:18:50as a public service mainly. Um,
1:18:54we're not blocked anywhere. I mean, you
1:18:57know, like I said, we even have offices
1:18:59in China. So, it it's we try to make it
1:19:02it, you know, objective. Um, I do
1:19:07Russian TV to mainly to show them, look,
1:19:10not everybody's Lindsey Graham. I can't
1:19:13be political here. I got to be this is
1:19:16what the computer says. I got to play it
1:19:18that way. Um Um, it's not my opinion.
1:19:22It's uh
1:19:24it's just got to be you got to look at
1:19:26the plain old facts. That's it.
1:19:29>> Martin, I always enjoy our
1:19:30conversations. Thank you for making
1:19:32yourself available. Uh for those that
1:19:34enjoy what I'm doing, I put all this up
1:19:35early on Substack, YouTube, Patreon. Uh
1:19:39so if you like my work, please consider
1:19:41uh contributing to it. Uh any those any
1:19:44of those platforms. Also, if you're
1:19:46watching on YouTube or Rumble, hit the
1:19:48uh smash the like button, share it uh
1:19:50and comment and um you know, Martin will
1:19:52follow us along and uh sure won't be
1:19:54that I'm sure there won't be a lot of
1:19:56time before we speak again. So, I
1:19:58appreciate it.
1:20:00>> Well, thank you. Now, it's time for me
1:20:02to get a coffee.
1:20:03>> Mic drop.

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