.jpg)
The Sean Morgan Report
The Sean Morgan Report
Badlands Media Economy Update 7/27/23
Join Badlands Media as we discuss all the lasts news relating to our economy.
Going beyond the headlines and asking those burning questions about the global economy, we bring you an insightful discussion with Dr. Kirk Elliott. What happens when the BRICS Nations meet and Putin holds a summit in Africa? How will these events affect the US dollar and further, the global economy? Brace yourselves as we unpack these issues and more in this riveting episode.
Ever wondered how fluctuations in the price of gold and silver can actually be used to build wealth? Curious about the possibility of gold, silver, and even a multi-commodity basket backing a currency? We delve into these topics, and examine the potential impact of oil-producing nations falling under the BRICS nations' influence. To help you navigate these uncertain financial waters, we also reveal how you can access a free consultation and learn more about the process of transferring assets into precious metals. Join us and our esteemed guest, Dr. Kirk Elliott, for this enlightening exploration of our financial future.
_
• Free Gold/Silver Consultation
https://kirkelliottphd.com/badlands/
_
https://BadlandsMedia.TV
.
.
.
.
.
.
.
.
.
.
Check out our Badlands Marketplace made up of America-First businesses: https://marketplace.badlandsmedia.tv/home
_
Interested in promoting your business? Email Matt Byram at
ads.badlandsmedia@proton.me
_
Badlands Media Economic Update is:
Sean Morgan:
Website:
https://SeanMorganReport.com
Twitter:
https://twitter.com/seanmreport
TruthSocial:
https://truthsocial.com/@seanmorganreport
_
Kirk Elliott:
Website:
https://kirkelliottphd.com/badlands/
_
Follow Badlands Media at:
Substack: https://badlands.substack.com/
Twitter: https://twitter.com/BadlandsMedia_
Facebook: https://www.facebook.com/badlandsmedia22
Rumble: https://rumble.com/c/BadlandsMedia
Truth Social: https://truthsocial.com/@badlandsmedia
#SeanMorgan #KirkElliott
I'm the host of the Sean Morgan Report on AMP News. I'm here with Dr Kirk Elliott and Kirk. I've been looking at the latest breaking news. I'm seeing a few things here and there. You know the Putin summit in Africa. They're actually literally announcing they're trying to weaken the US dollar. You didn't hear that rhetoric a couple of years ago, but that's what you're hearing now. What's on your mind? What do you see looking ahead?
Speaker 2:Well, you've got that. You've got the things that we've talked about in previous shows here. About August 22nd, the BRICS Nations meeting, you know, to basically probably back their currency with gold. Now is it going to be like a dollar for dollar? I don't think so, right. But the latest speculation is it's probably going to be pegged at about eight grams of gold per BRIC unit, which puts it right in line with what the Russian ruble did, right at five grams per ruble. So people said, well, kirk, that's not very much. It's like, hmm, or is it?
Speaker 1:It's better than nothing.
Speaker 2:Well, A, it's better than nothing. But B, if they're going to back the currency of the BRICS Nations with eight grams per monetary unit for 73% of the world's population as part of the BRICS Nations, like, oh my word, that's a lot of gold, right? I don't care how many.
Speaker 1:That equals their known reserves, or do you think they might have more hidden? I don't.
Speaker 2:So to me it doesn't even matter if it's their reserves or not, because the peg is the peg right, and always, in any economy, you grow the currency base to grow the economy right. So if it is a limited number, what does that mean for the price of gold? It just has to go up and up and up and up right so. But silver is outperforming that, which is why we've been allocating into silver right, to take advantage of that growth and ultimately sell it and go into gold down the road. Right, Because that gets a compounding of ounces kind of a principle which is wealth. So you have that coming. But what's happening this week? So this week three central banks are meeting. That the Fed and the European central banks already did and raised rates right. So they raised their rates.
Speaker 2:Now Japan this is an interesting one. Japan has been trying for the last 15 rate height cycles when the rest of the world has been raising rates, japan did not right, because it's like oh man, our economy stinks so bad. Here in Japan We've got to stimulate things. We're not going to raise rates to do anything that might slow it down, because we just have to grow, grow, grow, because we're sinking ship fast, but inflation is actually persisting so badly there. I mean one of the only countries in the world where you have to have a multi-generational mortgage, because the prices in Tokyo are so high that you can't just have one 30-year mortgage. I think it's like 50 to 80 years, which is a multiple generation span. You have to have the kids sign up on the note too. Right? It's like so the things are out of control, so they're going to be raising rates as well. Now I think what will happen is the next meeting in September, they're going to have to raise rates again. Then they'll probably go on pause. They're going to say, oh, we're winning this battle of inflation, so let's pause for a bit. But that's not the true case, because other things that are happening right now, right underneath our nose, are going to diminish demand for the dollar like nothing we've seen in history. Right? So what are those things?
Speaker 2:Number one Russia. Putin, two days ago signed into law the Russian ruble digital currency. Right, so this is their CBDC. And it's not like okay, you know, six months a year down the road, we're going to have this thing. It starts August 1st.
Speaker 2:I was like okay, so you've got this march towards central bank digital currency and complete control, communist, fascist takeover of bank accounts. Right, so you've got that happening. You've got the IMF that said any country that owes another country a debt no longer has to pay for US dollars. They can pay for it in Remnambi. It's like, okay, this is wild, right, remnambi. It's like it's not even the Yuan. You know the Chinese currency. They have two currencies, have an internal currency, for if you're a Chinese citizen living in Shanghai and you're going to the grocery store, whatever, you're using the Remnambi. The Yuan is used for international settlements, so they have this dual currency approach. Well, why in the world would they change all international settlements between countries to the Remnambi? Well, because they want to build up the BRICS nations economies, right.
Speaker 2:So this is this all out assault on the US dollar and this march towards central bank digital currency, giving people the illusion of privacy. Right, it's like, okay, we're going to get out of this paper dollar, we're going to get out of this Western controlled financial system, but it's the opposite of privacy. It's not cryptocurrencies as we know it. It's not. This is the opposite of decentralized blockchain. This is ultimate control of everything, which is why Nigel Farage in England got cut off from his bank accounts Nigel Farage Right.
Speaker 1:Yeah, that was a big turnaround where they ended up apologizing for sending a 40 page cancellation letter, but that was good. That put it on the front page of the world to understand that your political beliefs, even if you're among the elite, is something that can get you canceled and debanked. But I want to ask you, kirk, about the battle against inflation, or if this is even a real battle or a fake battle, with the Fed and Biden claiming that they care about inflation in the US and want to stop it. We've seen a couple of encouraging numbers. I don't know if it's encouraging or discouraging, but I guess the housing recession is over, supposedly because we finally in the official data saw the home sales rose a little bit.
Speaker 1:We've got this dovish kind of rhetoric from the Fed and it's making the stock market go up. They hiked in the EU central bank. They hiked rates. Everyone's pretending or maybe they are really trying to stop inflation, but are they going to be successful? What are they going to do once they give up this fight? Are they going to pivot? Are we going to head into more of a hyperinflationary, because they're going to be stimulating an already inflationary environment?
Speaker 2:Yeah, the pivot is simply going to be a change in system, I believe. I think the pivot comes with central bank, digital currency. I think things run their course. They're not winning the battle on inflation at all. How can we tell? Simply, go to the grocery store. Go to the grocery store, go to the gas station. Say are things cheaper than they were 30 days ago? They're not right so. But they're gonna have all kinds of metrics, all kind of analytics that say, oh no, we are winning this battle on inflation. No, we're not, because our wallets don't lie right there. They're not gonna lie about that. But so they're gonna. They're gonna pretend to take care of all of this stuff. But what tells me that they're not winning this battle of inflation is that now, this week, across the board, the fed, the european central bank and japan are going to raise rates. You don't raise rates if you don't have inflation. Maybe because that that has the net effect of slowing things down. Here's, here's their catch.
Speaker 2:Twenty two An overheated economy. You know where the prices are going up too much because people are spending and the economy can justify higher prices. That's, that's a robust economy. Inflation always comes with a growing economy. So, but that's a the false narrative that's actually being said right now. So the other reason inflation comes Is because there is no growth in the economy and they're having to print money like there's no tomorrow, to fund something that people should actually be funding with their spending. So we still have the same net result inflation. But it's not because people are spending money, which to me is is also being, you know, not exposed, but spoken about on the financial news networks like CMBC. It's like look at this bear market rally in the stock market. This is amazing. It's like is it our people spending money? Is the source of the bear market rally? Actually, retail spending and companies profitable and their earnings going.
Speaker 1:A good example of that was the headline that I read was dovish Fed and meta earnings, you know, equaled the rally in the stock market. It's like OK, what about the real economy? What about the real numbers of the real people in the world buying more things and having more jobs and creating more businesses and more prosperity? Had nothing to do with the conversation.
Speaker 2:Nothing because it's not part of the conversation. It's actually not there. I mean, I can walk outside of Denver, here where our offices are, and probably one out of every four storefronts on the main street level has a for lease or for sale sign on it. If the economy were robust and people were spending, then those things would be gobbled up with with retailers, with restaurants, with anything anything other than vacancy signs and it's not like they're vacant and you can tell that they're renovating the inside for the next you know store owner to go and know they're just, they're just dormant.
Speaker 1:Right, yeah, there are all these, these mega trends of people working virtually and of course, we have a I coming also to take even more jobs. And so you wonder, all of this commercial real estate, is it ever coming back?
Speaker 2:It will at some point, I hope, right, I mean, this is this is maybe my Polly Anna moment of the day Right, I hope. But what we don't know is the actual massive impact that is going to have. Right, if AI does what you and I think it's going to do, and what their creators of AI are espousing, is, it's going to replace Twenty percent of all global jobs and upwards of sixty seven percent, two thirds of all jobs in the United States, in Europe that's the most recent numbers from about a month ago. So that's a lot of jobs that aren't going to come back. What are you going to? Where are they going to go? What are they going to do if this AI and see, if you're Bill Gates, if you're Bezos, if you're any of these big, you know monster company type leaders, you say man, I don't have to pay these computers, I don't have to provide benefits for it.
Speaker 2:If you're Jeff Bezos, it's like OK, I'm not going to get another. You know HR lawsuit, right, it's like, or whatever. And but here's the net negative None of these people have jobs. These people are going to go to the government for assistance, for welfare, for loss of wages, for for something right? Well wait, there's no income tax revenue for the government because there's no jobs. Computers aren't being paid. They're not going to. Best buy buying things and generating more sales tax revenue for for the local municipalities, right? So where are the governments going to get all the money to pay for all their entitlements that it's not going to be there?
Speaker 1:Right, and it's funny because all of the AI people who did create this, this machine that takes jobs, they've known this from the beginning and they've been advocating for, for a universal basic income. They want to give. Just give people a thousand, two thousand, who knows how much money per month To just subsist and just say, hey, you know what. The AI is gonna take care of all the productivity. Now you do whatever you want sit on your couch, watch Netflix, spend your, your You're subsidized amount of money that we're giving you per month and you spend it on your Coca-Cola and your McDonald's and other stuff. So it's kind of it's a weird. It's a weird plan for our future. But what do you think are the things that people can do now to anticipate before, because this is gonna be a multi-year process? Yeah, play out. What do you think people can do now to secure the privacy you know? Perhaps protect or even grow, grow their nest egg, because do they really want it in the stock market right now?
Speaker 2:Well, no, I mean, this is. This is the great debate, right? So you know, if you watch any of the financial news, it's like who invest in AI? There's a lot of good AI stocks out there Microsoft, some of these other companies in video things that are, you know, on, on the cutting edge of artificial intelligence. So, okay, maybe, maybe people could make a profit from something like that.
Speaker 2:But come October, when there's always a October surprise on the stock market, I believe this is the reason why there's a bear market rally right now. Right, because they're they're gonna profit up. It's not from you and I spending money or there anybody else. It's from stimulus money, because what happens in October? Why is there always an October surprise? Well, because of the fiscal year for the federal government and, and all the numbers come out right. It's like man, we can't afford any of this stuff. Well, what we're seeing?
Speaker 2:The most recent numbers, the June numbers came out like it's July. So the June numbers came out Unbelievable. I've never seen anything like it. The deficit grew by 690 billion dollars in June alone. So what's seven? That's basically 700 billion times 12. We're on pace for an eight trillion dollar debt increase year. We have 32 trillion now that took 250 years to accumulate. You're telling me that we were on pace to add 8 trillion in one year. So I think the October surprise this year is gonna be way worse, because we've never seen these kind of debt explosion numbers and I really like what you said, kirk, about the pivot is a new system, because it used to be.
Speaker 1:The pivot is we, you know, cut rates, something simple like a policy change. But this is this is gonna be have to be some other kind of solution. Of course, we've had tarp funds and different bailouts and stuff in the past for big crises, but I Think you're right that the problem is gonna be so big that the only thing they can do they can't do a band-aid. They're gonna rush in with the hey, look at, look at this system that we already had prepared to deal with this. And I wonder even if the World Bank and the SDRs might even play a role in this, because you know someone's going to have to bail something out. So it is.
Speaker 1:It is hard to figure out how it's gonna play out, but nevertheless, whether it's gonna play out one way or another, there's one way that's been, you know, tried and true for thousands of years, and the bricks already know that. So so are you thinking this could be a hundred percent Gold backed, or it could be a commodity or a basket, and gold will pay. It play a part in that. There has to be a reason They've been buying all that gold.
Speaker 2:I think it's gonna be gold back. That's the easiest thing, because, I mean, you can't use really silver to back a currency. It's too inexpensive, right, and there's just simply not enough. We know, at current drawdown rates, were we're set, according to Andy Schechman, expected to run out within five months for manufactured Manufacturing amount of silver, it's like, well, boy, you can't use that to back currency, right, but you could use gold. You know, I think the BRICS nations are using kind of a quasi approach. I think they're gonna use gold, or this is why they're buying it by the hundreds and thousands of tons, but by allocating well, not even allocating, gobbling up these other nations, these oil producing nations like Saudi Arabia and so forth, into the BRICS nations. It's also gonna be quasi oil backed, right? I think so. So you could have both Running parallel. But but what? I ran Iraq.
Speaker 1:Venezuela, russia, all these oil countries that they might want to have that part of the basket.
Speaker 2:Yeah, and I think it'll be Multi-commonity basket with gold playing the large part of it. There's no other rational reason why they would be buying gold by the hundreds or thousands of tons and Accelerating that growth rate, unless they were needing it to back a currency.
Speaker 1:Yeah, it does make sense to me. So what can people do now? We've got a link in the description below that they can get a free consultation with you. What would that look like if they? If they do that, what kind of conversation will they have with your team?
Speaker 2:So I mean, it's, it's a, it's an awesome conversation, right. It's like way, what was it that Shawn and Kirk were talking about? The cause you don't want to reach out, right, and then just tell them, just tell my, my team, you know what it was. Do you have an IRA? Do you have a non IRA? What do you want to protect? And then we'll, we'll get you on the calendar with one of our advisors who will dig in deeper and then map out the strategy for success, moving forward, and we'll handle all the asset transfer teams. The crossing of the T is the dotting of the eyes, the moving funds, so you can allocate into the strength of precious metals. What does it take for you? A simple phone call and 15 minute application, right, and then my team does the rest. But that's what it is. It's basically a conversation what are your dreams, what are your aspirations, what are your goals, what are your fears, what can we help you with? And then we map it out. And then you say, yep, that looks great, or nope, not interested. Either one.
Speaker 1:It's not a pressure, it's not a high high pressure sales call. Is that what you're saying?
Speaker 2:It's exactly what I'm saying. I mean, you could say, kirk, this sounds awesome, I want to allocate, just like you. Or you could say, take a long walk off a short pier, I'm not doing anything, I'm staying in my Apple shares, right? It's like whatever you know, do. Our goal is to Help you be a wise steward with what you've been given. The only way to do that is with knowledge, right? So we'll give you everything that we know to help you make that decision. But then the decision is going to come from trust. Trust only comes through communication, right? So this is why we're very relationship oriented and and I don't care if it's if it's a marriage or a friendship or a business Relationship you can't have trust without communication. You can't have communication without the first call, right? So so that's our goal is to is to hold your hand through this fragile economy, moving forward, always let you know when it's time to buy, sell, reallocate, do it ever.
Speaker 1:That's what I like. I like this is not just a one-time transaction. This is something where, if it's time to reallocate from silver to gold, you're gonna call them up and help them through that process too a hundred percent yeah. And when they want to sell the metals back to you, you always accept it and you won't charge you commission. Is that how it works correct?
Speaker 2:because it's.
Speaker 1:A lot of the competitors out there will not be able to do that.
Speaker 2:Well, they can't because they have to make a market for the stuff that they're selling. When you deal with rare coins or semi rare coins, it's not a global commodity, it's something you have to make a market for. This is why we do hundred ounce bars of silver, ten ounce bars of silver bullion. It's a 45 second phone call to the depository because it's a global commodity. We lock it in, it's done. It's always a hundred percent liquid rights.
Speaker 1:Yeah, I've known so many stories of people who got burned on the numismatics and it's it's just safer, more liquid to do do the bullion. So I'm really glad that you guys do it that way. That's the way I'm gonna do it, because I've made the same mistake with the high premiums of the numismatics in the past. So learn from our mistakes. Thank you, kirk, so much for your time. We're looking forward to your next update. Next, week.
Speaker 2:It's my pleasure We'll talk soon. God bless.