A Dire Warning and a Constitutional Solution America's Debt Crisis and the Future of Currency

when I speak with people about the coming debt crisis I get a lot of blank stairs explaining the Border that's easy we can show pictures of people streaming across and mention human trafficking terrorism it's obvious there's a problem but our national debt is so huge that people don't really grasp how dire the situation actually is our federal government is approaching $ 35 trillion in debt but what does that mean to put it in context let's stop at think about 1 trillion not 35 $1 trillion is 1 million time 1 million trillion dollar is roughly the entire credit card debt of every American combined our federal debt is roughly 35 times larger than that and the worst part it's growing like a monster in the first 221 years of our nation we accumulated 10 trillion dollar of borrowed debt in the last 15 years we've added almost 25 trillion and the pace is accelerating when I wrote my latest book pirate money last June I looked at the US debt clock and we owed 32 trillion but in less than 9 months since then we've increased our debt by an extra 2 trillion doll this monster is growing and will soon consume everything it's like the blob from a bad 1950 sci-fi film only this blob is real and very dangerous join me in the the economic War Room well I will share five undeniable truths about our economy and our plan to rescue you from The [Music] Blob there's two Proverbs 223 and 2712 and they say the same thing they say a prudent man sees danger ahead and prepares for it but a fool goes blindly on and suffers the consequences I can tell you there is danger ahead I'm going to cover three points today one our money is failing it's just a matter of time and I'll have five undeniable truths to explain it second point is there is a constitutional alternative and the third point the time to act is now the five undeniable truths number one our debt path is unsustainable let me explain that our money's failing and our death path is unsustainable and it is just a matter of time before we default unless we change course don't take my word for it all the experts inside and outside government know this in fact Federal Reserve chairman Jerome pow he noted during a 60 Minutes interview that in the long term the government is on an un un sustainable fiscal path which he explained means the debt is growing faster than the economy bottom line it for you is he just said pardon me we're screwed unless we change course that's just a fact but it's not just Jerome pal and the Federal Reserve the Congressional budget office also has a report they say that our debt will pass $54 trillion over the next 10 years and they projected in terms of comparison to our economy that where it was just a few years ago our debt was a fraction of our economy an annual output it's going to be two times the entire economy of America in just 10 years this is a crazy thing that we're looking at they projected by the year 2050 that we would have A1 trillion in additional debt on top of that that we already have now how do they get there they look at Social Security and Medicare and they look at the rest of the federal budget yes the congression budget office predicts that we will be completely bankrupt they don't say it in those terms but that's what they're saying if you owe $135 trillion in the year 2050 and it's a multiple more than two times your economy I'm sorry you're in trouble and that's what CBO says and it's not just them the treasury Department in the Biden Administration I mentioned the Federal Reserve Congress private economists they all say the same thing this is math it's not politics but virtually no one is discussing it this is scary stuff let me explain from epic times they wrote how to explain the fed's massive losses did you know the Federal Reserve last year lost $114 billion now how do you do that when you're printing money well it's the debt problem it's the same thing like Silicon Valley Bank they owe a bunch of debt interest rates go up that puts them in in a hole because the value of those bonds that they're own holding have gone down in price here's daily torch February 7th 2024 the present level of revenues is $4.6 five trillion according to data from the White House Office of Management and budget in the meantime mandatory spending the mandatory spending that the government has to spend including net interest Ed on the national debt has reached the current level of 4.64 trillion let me put that into plain language this is the headline you could eliminate every federal department agency and fire every federal employee including the military and still not be able to balance the budget that has created an emergency situation it's something that no one's talking about but it's going to impact us almost immediately if we don't prepare for it now that's scary but it's just part of the problem I hope you agree the fact is our debt path is unsustainable and that is the first undeniable truth but the second undeniable truth is that other nations are targeting our currency they smell blood here Elon Musk saidif you weaponize your currency enough times other countries will stop using it and that's happening we've been using sanctions and currency restrictions and other nations like the brics Nations have decided to pull away in 20 2008 Vladimir Putin said I want to end the Dollar's Reserve currency in 2013 China's Xi Jinping came to power and said I want to end the use of the American dollar around the world in 2023 bricks Nations Brazil Russia India China and South Africa including Saudi Arabia came together and said they want to end the dollar as Reserve currency of the world they call this the exorbitant privilege because American dollars are used for almost all trade everywhere people told me when I first said this in the Pentagon I said this is going to happen they're going to try and end the dollar they oh no no China wouldn't do that they own 10% of our outstanding debt and they did in 2008 now they hold about 2% here's a picture of Eagle raner in the Wall Street Journal he says the foreign goal is to displace the dollar he said this in the year 2008 I'll read to you Mr pan panan posits in brief that mass immigration economic Decline and moral degradation will trigger a Civil War and the collapse of the dollar his theory called US foreign debt a pyramid scheme and predicted R China and Russia would usurp Washington's role as a Global Financial regulator that that's what they're intending don't take my word for it look at Yahoo China continues to dollarize reserves as gold stockpile climbs for the eight straight month or or look at foreign policy magazine China is quietly trying to Dethrone the dollar these are facts and the brics Nations have joined them a brics currency could shake the Dollar's dominance or the Dollar's dominance is shakier than ever both come from foreignpolicy.com this is an official stated goal of the bricks Nation I need to take a break when I come back we'll talk more about the bricks intention to destroy the dollar in uncertain times finding stability in the economy can feel challenging but what if you could navigate economic volatility while honoring your biblical values at Timothy plan they believe this balance is possible Timothy plan filters its volatility weighted ETFs and family of mutual funds through a Biblical pro-life and pro family lens so you can see competitive returns and moral respons responsibility helping you to weather the economic storms with Timothy plan align your Investments with your values while adapting to our everchanging culture since 1994 Timothy plan has been recognized leader in biblically responsible investing Timothy plan your bridge between Faith finances and the future visit Timothy plan.com or call 1 1800 Tim plan or 1 1800 846 7526 investing includes risk including possible loss of principle before investing carefully consider a fund's investment objectives risks charges and expenses contained in the prospectus available at Timothy plan.com [Music] here's a $10 bill it's got the picture of Alexander Hamilton on the front of it you know it's kind of sad when I was 10 years old I everything that I could buy for a dollar now costs about $10 that's the cost of inflation it's just paper it's not backed by anything you can't exchange it for gold and silver you used to but you can't do that anymore and that's fortunately you know Pirates wouldn't accept this Pirates they wanted gold and silver Patriots the founders of this nation also wanted gold and silver coin in fact they put a provision in the Constitution 17 words that said States could only make gold and silver coins tender within the states that's why I wrote this new book pirate money discovering the founders hidden plan for economic Justice and defeating the great recet it will explain exactly the history of money and exactly why gold and silver coins can be made modern with new technology and a useful monetary system piraty book.com we've been discussing five undeniable truths of our economic situation we got to truth number two which is that uh other nations want to destroy the dollar they want to remove it as the reserve currency I want to quote here from foreign policy magazine it says this is 2023 Joe Sullivan explained that bricks don't need to wait until a new currency is launched to challenge the US dollar according to the analyst if bricks create a rule to settle payments in local currencies among member nations the US Dollar's dominance will automatically come down and affect the American economy at large now how many nations are we talking about in bricks according to CNN nearly three dozen countries are seeking entry into the China and Russia back bricks economic group South Africa is part of it so Saudi Arabia this is a growing movement anti-American movement that's developed so we have two proven undeniable truths one the death path that we're on is unsustainable and two other countries want to break the Dollar's Reserve currency I hope you see that I hope that makes sense to you because I've laid out all the facts here now let's talk about the third truth the third truth is inflation and the on effect create a wealth Gap that hurts the poor and will eventually lead to destabilization of our country what we've got here is real people who are going to get hurt if we lose the reserve currency status which happens because of our massive debt Point number one undeniable truth and undeniable truth number two is other nations are trying to tear down our currency and we lose the reserve currency we're going to see major inflationary pressures you think well how would that impact practice look at the goods and services you buy are any of them imported any of them come from China well guess what they will suddenly become drastically more expensive if the dollar comes under pressure and here at home we'll have problems too because interest rates will go up from those inflationary pressures we saw interest rates rise because inflation Rose just a couple of years ago now my question is if we're producing $35 trillion of debt now on our way to 35 trillion by the year 2050 who's going to buy all that debt who will buy it we have one failed Bond auction where you know the government goes out and says Wall Street hey sell our debt see who wants to buy it one time they come back and say I'm sorry uh Washington but nobody's interested that's at the point that we have absolute disaster and when I say absolute disaster I mean the currency doesn't just lose 90% of its purchasing power as it's done in my lifetime at least since I was Tak years old 1971 Richard Nick took us off the gold standard you know in 1971 I could buy a Hershey bar for a dime a Spider-Man comic for 15 cents a large Slurpee for 15 cents a McDonald's cheeseburger fries and chocolate shake for a dollar it cost me $140 I could earn $160 an hour cutting my dad's lawn I'd put two two dimes in the collection plate and spend $140 you know what that basket of a Teenage Dream 20 bucks 20 bucks to buy the Hershey bar and and the McDonald's meal and the comic and all that $20 that's how much inflation has hurt us but what happens if we go into a hyperinflation then it gets really bad since 1971 with this smaller than normal inflation rate while we financialized our economy we've created this massive wealth Gap the rich have gotten richer the middle income has gone down and the lower income has gone down this is financial instability that's what comes when you have that kind of wealth Gap and what else happens is if you lose the reserve currency status and you're that much in debt you start to print hundred trillion dollar bills like Zimbabwe did or Germany did this with Ein million Mark where you had to have wheel Bus full of money to buy a single loaf of bread or kids played with blocks of money rather than Legos because the blocks of money were cheaper than the Legos in Argentina the inflation rate hit $124 % in Venezuela the inflation rate was 1,300,000 per in the year 2018 that's what happens when your currency fails and real people will get hurt now I mentioned the cantelon effect cantelon effect was named after uh an economist who said he who was close to the king and the wealthy likely benefited from the distributional choices of currency through the system I'll put it you another way that means if you're close to Washington DC or New York where they're producing all the money then it's easy to get money and it's easy to protect yourself against inflation but if you're sitting as a farmer in Iowa it's not so easy it's hard to get money and if you have a collapse of the currency and they replace it with something else you're going to be among the last taken care of poor people they have a real struggle with inflation that's who it hurts the most and this income inequality can lead to economic instability that's from the international monetary fund inflation by the way people say inflation's the problem no inflation is not the problem infl inflation is a necessary evil just imagine if we didn't have inflation but the money printers printed 35 trillion or $135 trillion and it was all held in Washington DC they would essentially buy everything we own if they stopped inflation like with wage and price controls so they'd have all the money and we'd have nothing isn't that a world economic Forum plan you'll own nothing and be happy bottom line is is that if they keep printing money like this and prices don't go up then they'll have all this money they'll buy everything and own everything inflation is a necessary evil I don't think anybody's talking about that but it really is true I would rather have zero inflation with with a stable money supply but if they're going to be printing that much money we have to have inflation so that the house that I already own will go up and someone won't buy it out from under me now it's devastating to poor people we need to solve the real problem it's not inflation it's the excess money printing truth number four unfortunately governments see what's happening and they intend to weaponize the currency against us they call it Central Bank digital currency cbdc so how do you fail for solve for a failing currency and also keep the masses in check you use your money as a control mechanism China has an example they're using social credit scores to control people and in fact if you went to get your money out of a failing bank they turn on your iPhone they turn your health care app red oh no you need to be quarantined and force you to go home they're literally controlling people with social credit scores they've created something called the digital Yuan you've heard about this it is a direct threat to the dollar but it's a threat to Liberty in China as well and Central Bank digital currency we call it Biden bucks here executive order 14067 where literally President Biden 37 pages long dated March 9th 2022 decided that all our money should be a control mechanism so that they can Implement Dei and ESG and and fight climate change and all of that and then the IMF has the same thing they released a paper on September 7th of last year and they talk about coordinating all of our money through Central Bank digital currency to control us if you've driven too many miles you can't buy gasoline if you're too heavy you can't buy a cheeseburger this is a control mechanism designed to control us we're going to take a break when we come back we'll dive into Solutions oh hi I'm Kevin S and I'm here to tell you about coffee well not really but I'm going to use coffee to illustrate my point here we have several different coffees each with its own unique characteristics first we have instant coffee this coffee pretends to be coffee but it's not really coffee at all it's a fraud plus it tastes terrible am out next we have W coffee their coffee actually tastes pretty good until you find out that when you drink it you have to admit that you've oppressed other coffees in the past Insanity I might next we have big Tech coffee now these guys used to encourage folks to share with others what they thought about their coffee but now if you say you don't like big te coffee they'll take away your coffee pot I'm out this brings us to Patriot mobile coffee right this is one big cup of Truth and freedom there's no fraud here Patriot mobile is America's real Christian conservative wireless provider Patriot mobile gives back millions of dollars every year to organizations that are on the front lines fighting for our freedoms patri mobile offers the best Nationwide 4G and 5G coverage on the same networks as the other major carriers so you'll get the same great coverage along with 100% us-based customer support while Knowing You Are supporting a company that shares your conservative values switch to patriotmobile today by visiting patriotmobile tocom or call 972 Patriot we've been talking five undeniable truths about money the economy and so forth the fourth one is governments intend to weaponize money against the people now we're talking Central Bank digital currency we're talking the IMF is involved in this President Biden wrote in executive order they have intention for you to have no privacy everything you buy sell do be monitored the government would have a line item veto on all your spending and all this will be legal because you'll agree to the terms there'll be a financial crisis and this will be shown as the only path out this is the domestic economic War AKA The Great reset we know that they've been de banking people like Tucker Carlson Nigel farage and our friend Nick voic and they say basically if you support the wrong politician we'll take your back bank account away this isn't conjecture it's an undeniable truth and we'll put in the battle plan the exact quote in the link where you can see that the Canadian Finance Minister actually said that so can we all agree that governments intend to weaponize currency and our access to it they tell us what they're going to do and we see them doing it even now in crude R ways so what happens when they get cbdc of course they'll take control undeniable truth number five money is changing in major ways that's true whether you use PayPal and venmo that didn't exist 30 years ago or tap to pay on your iPhone or Bitcoin or a cashless Society where you go in we don't take cash here or the reverse ATMs where you put cash in and they give you a debit card out here's a quote the cashless future is here so is Big Brother all those things are happening right now and the speed of change is accelerating it's very easy to slip in an all digital currency but I have a question if money's changing shouldn't the changes be optional and beneficial I think they should so our five undeniable truths are absolute our debt path is unsustainable other nations are targeting our currency inflation and the Calon effect are hurting the poor and creating a wealth Gap and destabilization governments intend to weaponize our currency and money is changing in major ways so what do we do about it that's just point number one our money is failing and it will be replaced it's a matter of time so what do we do we have one constitutional alternative and the time to act is now so if you weren't depressed by the five undeniable truths that prove our money is failing you're not paying attention the good news is we have an answer and states can do something about it I've written about this in the book pirate money you've probably heard us talk about it states can create constitutional currency under Article 1 Section 10 that would be transactional gold and silver this is gold Deon and this is a silver piece of eight can you imagine instead using a debit card or tap to pay and using gold and silver that's happening it's happening right now on a commercial basis the courts have approved the elements that are necessary I cover all this in the book pirate money we're not talking about eliminating the US dollar just offering a valid choice and you know what 25 states are considering it right now I've met with legislators in Florida and Tennessee and Oklahoma and Texas and Utah and Georgia and Kansas and Iowa and Alaska you 25 states are looking at doing what we call Pirate money it's incredible so what is money it's a unit of account it's a medium exchange it's a store of value according to the Bible it's gold and silver according to the founders in the Constitution it's gold and silver guess what we have a way to make that transactional and useful if we make it transactional and useful according to what I wrote here and according to what I've written in other papers it might mean you could own gold and silver without fear of capital gains taxation because you were owning money and not a commodity or an asset so the founders they hated paper money uh George Washington said paper money has had the effect in your state that will ever have ruin Commerce oppress the honest and open the door to every species of Fraud and Injustice Jefferson was a little more direct he said paper is poverty it's only the ghost of money and not money itself paper money n million mark paper money uh the Zimbabwe currency we have an alternative here in America we call it constitutional money it's based on the dollar which was a Spanish Mill dollar it's gold and silver coin Article 1 Section 10 which says no State shall make anything but gold and silver coin a tender and payment of debts the founders were very specific they wanted gold and silver and we have court rulings like the Brisco versus Bank of Kentucky in 1837 which is again explained in this book which basically lays out that a State Bank or depository can take money on deposit real money gold and silver and produce a certificate like this Bank of Kentucky note and that can function as currency in a system now 100 years ago you could buy a great Man's suit shoes shirt and tie for one ounce of gold you can still do it today gold holds its value 100 years ago you could buy five gallons of gasoline for 10 dimes that's still true today if you had the silver content of Min Dy produced before 1964 this is economic safety this is economic Justice this is the answer to the five undeniable truths we have to make gold and silver transactional does it work yeah absolutely it works you can use a state depository and you can use modern technology we covered this in episodes 277 and 280 where we featured Jason cousins of glint what I want to do is I want to share with you a little video that I produced to test it myself I took my gold coin and I tried to buy some food with it people say well you can't what good is gold you can't eat it well you can buy food with it let's take a look we just landed in Florida it's so exciting we're at my favorite grocery store and I've brought my gold escudo this is a gold of blue it's got over $100 worth of gold I'm going to go see if I can buy some oranges with this let's see if it'll take my gold for these delicious Florida oranges there we go and where do I put the coin oh I'll just use my glint card and pay that way there we are on February 2nd 300 p.m. I paid $5.99 with 914 g of gold success FL oranges bought with gold paid by Glenn so what I want I've been with the CEO of glint we've gone state by state by state and said hey adopt this technology in your state you don't have to use glint you use somebody else but make it legal tender gold and silver according to the Constitution and then make it functional money with transaction capability like that and guess what that will give State residents an option to stand up against those five undeniable truths it'll preserve your purchasing power it'll give people a sound choice and we need money to stay in America we don't need all of this craziness that's going to happen once our dollar fails we need to have a choice and that's what glint does 25 States are looking at this showing interest that's combined the third largest economy on planet Earth we had a summit here at Liberty Hawk Ranch for legislators and they went out and they started making it happen they took copies of the book get people to read this book we need your help as the small ships here are your action steps one pray two get a pirate money book copy three support legislation in your state to make this possible and four check out transactional gold.com for updates now we're going to summarize all of this in our free economic battle plan you can find it at economic warroom.com remember what we see as a Marketplace our enemies view as a battle space this is Kevin Freeman from the economic war [Music] room