The Sean Morgan Report

Badlands Media Economy Update 8/10/22

Sean Morgan

Join Badlands Media as we discuss all the lasts news relating to our economy.

Fancy a deep dive into the intricacies of inflation and the murky future of the US dollar? Hold tight as we unravel these complexities with our esteemed guest, Dr. Kirk Elliott. Together, we probe into the influence of Biden's strategic oil reserves on inflation, examining the intimate link between the cost of oil and manufacturing and the implications of US Treasuries' recent credit downgrade by Fitch's rating agency. Strap yourselves in, as this conversation throws light on the potential repercussions, including an interest rate hike, market adjustments, and the challenge of attracting foreign capital.

Investment consultations can be a minefield, but fear not! Dr. Kirk Elliott is here to guide us through crafting an effective investment program, capitalizing on current market trends. Whether you're a seasoned investor or just dipping your toes in, Kirk's insights are invaluable. He walks us through the initial steps of setting an appointment, right up to submitting a form, emphasizing the importance of being in tune with the market and its emerging trends. So prepare to heighten your financial acumen and stay ahead of the curve with this enlightening discussion with Dr. Kirk Elliott.
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Badlands Media Economic Update is:
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Speaker 1:

Economic update. My name is Sean Morgan. I'm the host of Sean Morgan Report over on AMP News. I'm here with Dr Kirk Elliott. So, Kirk, I got your email newsletter. You put out a lot of interesting information about the true story about.

Speaker 2:

Yeah, so sorry, you're a little bit in a bad internet connection, so I'm just gonna talk because I heard the gist of what you wanted to say. Right, but so how in the world could we have declining inflation on the consumer price index for like literally five months straight? Right, our wallets to tell us something different. We go to the grocery store, we go to the gas pumps. It's like things aren't cheap, things aren't getting cheaper, five months in a row. Something's not right. Right, so what is that something that's not right?

Speaker 2:

Well, the research just came out, like three, four days ago, about the strategic oil reserves. Now, this is an interesting one, because you start connecting the dots, it's like, oh, light will go on. It's like I get it right. So the strategic oil reserves is basically what that was exactly that Strategic oil reserves for the country should be utilized during times of war. So if you go to war, you always have enough fuel for the planes, for the tanks, for the machinery, everything else right. But Biden's been like dumping it, just getting rid and using the strategic oil reserves. So if you were to look at it on a chart, sean, it looks like a mountain. Right, imagine the chart, and it's going. It's got these pumps, that's going up and up and up and we've got all the strategic oil reserves. And then, like, if you're a hiker going on this mountain path, you get to the top of the mountain site. It's over. I'm jumping off the cliff, right. It's like the chart would just show free fall down as you jump off the cliff. This is what the strategic oil reserves look like. It's an absolute free fall because Biden's got rid of almost all of it.

Speaker 2:

So we have to ask this question, which is how much do we actually use oil for? Well, the answer is like everything, right? I mean literally everything. You use it for gas in your cars, even if you have an electric car, a really fancy one, 100% electric, like a Tesla. What's the plastic dashboard made out of? Well, petroleum products. How about the rubber tires? Well, again, petroleum products and oil, right. How about the gears, the grease, lube and the gears for the electric engines? Well, oil, right. Or what if you buy an organic cotton shirt like this one? Right, it's like? Well, the loom that made it has gears and moving parts that have oil in it. I mean, everything has oil in it, right? So, as the price has dropped free fall over the last five months. So is the price of manufacturing for everything.

Speaker 2:

So this is how Biden can say we've won the war on inflation. Look, cpi keeps coming down, but it's a magic trick, right? It's not really come down because our wallets are telling us it's not. So here's where I believe inflation is going to rear its ugly head again. It's going to get bad, and really bad, because now that you have to replenish those oil reserves with the real cost of oil, no, currently the price of everything is going to go up. We saw that on the consumer price index just recently. It started to dip up again. It started to go up in the wrong direction. For the authorities in power right now. They don't want it to go up because that tells us we've lost the war on inflation. But our messaging and our rhetoric has been we've won this war on inflation, right, but they haven't. They simply have not. So inflation is going to persist. Consumer price index is going to keep going up. True inflation, which is truly at over 20% right now. Unofficially, that's going to keep going up. It's like oof.

Speaker 2:

So no wonder you've got the Fitch's rating agency that downgraded US Treasuries from AAA to AA+. Because they look at two things, sean, they look at when they make a rating. I mean they look at more factors, but these are the two biggies how much debt do you have and do you have the ability to pay it off? That's what the rating agency is looking at. So when they downgrade, they say well boy America, you got too much debt and you're probably not going to pay it off, so therefore we've got to downgrade it right. So what I'm more concerned about is not necessarily the Fed raising rates. I'm more concerned about an actual market adjustment Globally, people saying we're not going to invest in Treasuries because the yield isn't high enough given that you've got a credit downgrade. So the market naturally is going to raise rates in addition to the official rate increases, and I think it's lights out. But I think that's absolutely lights out because when Jerome Powell, chairman of the Fed, says we've won the war on inflation, we're going to probably have one more price increase in September for interest rates. But then we can pause for a while.

Speaker 2:

The whole concept of pausing, I think, just got kicked out the window. Right, because you lower the credit score of the United States. We're supposed to be the world's reserve currency. We should have the greatest credit score that we can, but we don't anymore. So, just like if you were to buy a house, you want a big, fancy big FICO score, right, so you get a low rate, maybe 800 plus but if you had 650 FICO scores, like dude Sean, you can't get a house from this mortgage lender. Your credit score stinks. We're going to have to raise rates on you. This is the same thing that United States is facing, where the credit downgrade is raising rates to entice foreign capital to invest in our treasuries. Without that, we're toast because we just have to print our way out of everything.

Speaker 2:

Well, putin may have done just that made us toast, right, because I don't even know how long it's been, sean, maybe six months you and I have been talking about this BRICS meeting that happens in two weeks, on August 22nd, how they're going to announce their BRICS currency and it's going to be backed by gold. Even the Russian embassy posted that officially a little over a month ago. It's like we're excited about the BRICS currency that's going to be backed by gold. You don't have to speculate. What they said, that's what they said right Now, though, over the last three or four days, putin has basically done an about face.

Speaker 2:

It's just completely different. He said hmm, we might not be ready for a common currency in the BRICS nations. Why would he say that? I don't know what to think of what Putin says, right? Either he's telling the truth, he's telling a lie, he's trying to misdirect, he's trying to accomplish something and make themselves look better. I don't know right. But his proposal is this All the countries in the BRICS nation, since they're not ready for a BRICS common currency that's backed by gold, central bank digital currency, how about?

Speaker 2:

In the meantime, all BRICS countries trade back and forth with each other in their own currencies, not the US dollar, right? So if we have 73% of the world's population that has a currency that's backed by gold, what's that going to do to gold? It'll go through the roof. So will silver? Silver will actually outperform like it does Now. What if Putin gets his way and follows down the footsteps of India and says we're not going to support this BRICS common currency for whatever reason? Well then, all of that demand that goes to all those other currencies trading back and forth with each other not the US dollar kills the US dollar market overnight, like literally overnight, and then we're going to be forced to print our way out of it, which causes inflation, which causes what Gold is over to go up, except just faster, right? So because it's immediate, it's an immediate loss of world's reserve currency status. When 73% of the population is now trading in something of the global population, it's trading in something other than the US dollar.

Speaker 1:

It's a supply and demand issue, so less demand for dollars and more demand for gold or perhaps another currency 100% Right.

Speaker 2:

So either way, to me it's like the way that we allocate into strength, into tangible assets, is a way to protect and preserve and grow and thrive. No matter what happens at the BRICS meeting, whether what we think is going to happen they're going to announce our currency back by gold or whether they do about face on that and say we're not quite ready for it technologically or for whatever reason. But we're going to follow Russia's example and their footsteps and their recommendation and trade with each other in our own currency, not the US dollar. Right, even from the way that Putin said it, even if you're trading with the United States, you're not using the US dollar. Let's just squash them, right? So this is a political move like economic warfare 101. Reduce the demand for your opponent's currency and you ultimately win the game, because they're forced to either go out of business or print their way out of it. Either one of them is not good for the country, which happens to be America.

Speaker 1:

Well, with this meeting just two weeks out, it seems like this is an action time for people, instead of waiting around to see what happens with global politics, to kind of get ahead of this. So how can people get a consultation and talk to your team about this?

Speaker 2:

Simply two ways. You can go to KirkEliotPhDcom with two L's and two T's forward slash badlands and just fill out a submission form. Says hey, I want to talk to one of your advisors, kirk, help me map out a strategy for success. Or you can simply give us a call, 720-605-3900. Say you heard from us on with Sean Morgan on badlands, right, and then we'll actually set up an appointment that way with one of our advisors too. End result is the same Either you submit the form or call us and we set up an appointment to strategically map out an investment program that will take advantage of these trends rather than the trends taking advantage of you.

Speaker 1:

That's awesome, Kirk. I'm glad you make these consultations available. You keep updated with us every week. God bless, Kirk. We'll see you next time.

Speaker 2:

Thank you so much. Bye for now.