Episode Transcript
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devices, visit dexcom.com. This is
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the Rich Dad Radio show. The
1:05
good news and bad news about
1:07
money Ears Robert Keep sucking L
1:10
O L L O Barbecue Saki
1:12
The Rich That radio show again
1:14
with broadcast from downtown or Phoenix
1:16
Arizona Words you that govern our
1:18
L. And right now still Evan.
1:21
But. It'll soon be hell people say. Well, how
1:23
can you stand the. So. Us
1:25
Air Conditioning for you Americans,
1:27
car that air conditioner House
1:29
and Co. I
1:32
like it is not there but Hawaii's humid.
1:35
And. Arizona is just hot. But.
1:37
It was humid. I get tired so
1:40
that's why I'm other Doesn't bother me
1:42
too much. Today we're very important Show
1:44
it's it's about Bitcoin. Gold.
1:47
And silver. But. More
1:49
than that, those were gonna go
1:51
a macro macro as to what's
1:53
going on today. Please call Columbia
1:55
University in a all across the
1:57
world with. you know that hamas
2:01
anti-Semitic rhetoric and anti-Israeli and
2:03
all this stuff. And
2:07
as some of you know, I fought for
2:09
the United States, US
2:11
Marine, I went to Vietnam twice
2:14
to fight for our freedom. And
2:16
today I have, we're in
2:19
chaos. And so in 1965,
2:21
when I went to school, I
2:23
left Hawaii and went all the way to school in New
2:25
York, Columbia University was
2:27
right down the street and that's where
2:29
the rioting started. So then I, in
2:31
1965, my economics teacher had our class
2:33
read this book here. And I suggest
2:36
everybody should read it. Because
2:38
when I read Communist Manifesto, I
2:41
realized my family, one of
2:43
them are Marxist. Now that not
2:45
bad people, it's like somebody, some people are
2:47
Christians, some people are Buddhists, some people are
2:50
Jewish. Economics is kind of
2:52
a money or a religion, that's
2:54
all it is. So
2:57
in Marxism, they believe in taxation,
2:59
which I don't like and
3:01
all the other things they go into.
3:04
But the thing that happened at Columbia
3:06
University was stage, he talks about communism
3:09
would take over America in two stages.
3:12
And stage one occurred in 1930, when
3:16
Columbia University where all the fuffles
3:19
going on today as we speak in
3:21
2024, they invited Marxist teachers from
3:25
Germany to teach at Columbia
3:27
University's college, teachers college.
3:30
And in 1966, 67, 68, is when all those rioting blew
3:35
up in Columbia. And
3:37
it's repeating again today,
3:39
history proves we
3:41
don't learn anything. So
3:43
we're blowing up anti-Semitic, anti-Palestine,
3:45
Hamas, this, I don't, you
3:48
know, and it's
3:50
getting worse. So my special guest
3:52
today, we will get to crypto,
3:55
Bitcoin, gold, silver, but I
3:57
think we need to take a macro look at what's
3:59
going on before. before we go further. This is my
4:01
friend Andy Scheckman. Full disclosure,
4:03
I'm a client of his. I buy
4:05
from him, I trust him. I
4:07
like people who educate when they sell, because
4:11
I call him. I call for the education
4:13
more than the gold or silver. And
4:16
his company is Miles Franklin, one
4:18
of the best companies in gold and silver. But
4:21
also Andy is Jewish. And my
4:23
friend Blair Singer is Jewish. And
4:26
I don't know the difference. What is a Jew?
4:28
Is it a religion? Is it a race? Is
4:30
it this? And I never understood it. So
4:33
I thought I'd ask this, since we have
4:35
this Hamas stuff blowing up and Columbia
4:38
University back in the news, all this
4:40
rioting, I thought I'd ask Andy
4:42
to give his point of view. What
4:44
do you think is going on, Andy? I
4:48
find it to be crazy. Most
4:52
of the people that are protesting
4:57
would not be very welcomed by
4:59
Hamas, to
5:02
say the least. But coming from my
5:04
perspective, look, I mean, yeah, I
5:06
was born Jewish. I never even had a bar
5:08
mitzvah. I
5:12
started my company on a wing and a
5:14
prayer with a loan in a
5:16
one-room office the size of a closet. Nothing
5:19
was ever given to me. I never
5:21
came into this world entitled. I came
5:24
born into a religion that I know
5:26
very little about. Now I'm proud to
5:28
be Jewish, but
5:30
I can't read a lick of Hebrew
5:33
and don't understand the
5:35
religion other than the
5:38
very, very, very basic. Said, yet I would
5:40
be painted into a corner as
5:42
being part of the problem. I
5:45
never understood why a very,
5:47
very tiny, small percentage of human population,
5:49
but a speck of dust in relation
5:51
to the rest of the world. When
5:55
you look at the outsized level
5:58
of... of things
6:02
that they have contributed to the
6:04
world in art, in literature, in
6:07
medicine, in finance, all of these
6:09
things, they are so hated.
6:11
It bothers me an awful lot, but
6:14
it's a bigger deal. I mean, the lack
6:16
of unity in this country is
6:18
unbelievable. And I
6:20
think that what's happening at
6:22
Columbia and other universities is complete
6:25
and total disgrace, to
6:27
be honest with you. And one
6:30
of these deals where you feel, you'd
6:32
wonder why is there such hatred
6:37
just based on how
6:39
you came into this world? And
6:41
I don't know, it's, I think,
6:43
symbolic of a bigger problem in
6:45
this country, Robert, very much so.
6:47
My family being Japanese after Pearl
6:49
Harbor, not
6:51
in Hawaii, but my family, my
6:54
relatives who lived on the west coast
6:56
of America, California, they were
6:58
put in internment camps. So it's
7:00
the same as the Jews were. And
7:02
so my family being that they
7:04
were Americans, I'm fourth generation
7:07
Japanese American, my uncle
7:09
said, well, we're gonna fight for America
7:11
to prove that we're here to serve America.
7:15
So they formed the 442nd Infantry
7:17
Battalion. It was all Japanese. And
7:21
because they were in the concentration camps
7:23
in America, but I think
7:25
there was a, they ended, when
7:28
they got to Europe, they were liberating some
7:30
of the prisoner
7:32
of war camps for
7:34
the Jews. Well,
7:36
look at the difference there. Your
7:38
family assimilated and contributed to the
7:40
country where we have people in
7:43
Dearborn, Michigan saying, death to America
7:45
on American soil. And
7:47
yet they're focusing on Jews.
7:50
And it just
7:52
doesn't make sense to me. People,
7:54
I just are uneducated, I
7:56
guess is what you could say to that. Well, I think
7:59
it is taught by. your parents. I
8:01
suspect that. I had a friend who
8:03
was Muslim. Saleh, I
8:05
loved them to death, but man, I never
8:07
met a man who hated Jews so much.
8:09
I said, Saleh, do you know any of
8:11
them? He goes, no. So why do you hate them? I said, I
8:14
don't know, I just hate them. But I
8:16
think he was taught to him. He wouldn't admit that. It's
8:19
the same as people hate blacks. They're
8:21
taught it at home. So
8:23
that's my only easy 10-cent
8:27
psychological input to
8:29
that. So this goes into,
8:31
we're now at this Hamas,
8:34
Israel, we have Ukraine,
8:37
we have the Biden full operation. I
8:39
mean Trump is on trial
8:41
for doing what every real estate entrepreneur
8:44
does. They pad their financials. I'm gonna
8:46
give me a break. You
8:48
know, and they're gonna, so it's fascism right
8:50
now what they're doing to Trump. Do you know
8:52
what I mean? They're gonna, they're gonna use the court
8:54
system to put a good man in
8:56
jail and make sure he doesn't get elected. That's
8:59
fascism. And then Hunter
9:01
Biden, the FBI loses his
9:03
laptop. Oh my god, Andy.
9:06
You know, my Spanish friends would say,
9:08
Que Pasa, what's going on here? What
9:11
do you, what do you think? I mean, but
9:13
this, it's a reason to buy gold, silver, Bitcoin
9:16
and all this because our currency is screwed up
9:18
now. It's gonna get worse because our debt keeps
9:20
going up. Well,
9:22
and I, you know, all of that's true. I
9:24
mean, our debt is going up to the tune
9:26
of a trillion dollars every hundred days. It took
9:29
200 years to do it the first time. We
9:32
are adding debt at a level that is unsustainable.
9:34
We have nine trillion dollars in treasuries
9:36
that need to be rolled
9:39
over at higher interest rates this year alone. At a
9:41
time when the world is selling treasuries, China is down
9:44
to 700, just over 700 billion.
9:47
They were at three trillion not too long ago. Obviously
9:50
Iran and Russia and well they sold
9:53
all their treasuries. Saudi Arabia is lowering
9:55
their treasury amount. Japan is. So
9:57
as all of these countries are shedding treasuries,
10:01
who's buying them, including the Federal Reserve, the
10:03
number one holder of our debt, they're rolling
10:05
them off their balance sheets. So who's going
10:07
to finance the $10 or $11 trillion every
10:11
year for the next 10 that
10:13
we have obligations towards to roll
10:15
over at higher interest rates? Who's
10:17
going to finance this irresponsible spending
10:20
that we have? You mentioned the
10:22
Ukraine. We've given them $200 billion,
10:25
Robert, since February of 2022 with
10:27
no congressional oversight, $5
10:29
billion to build a wall to protect border
10:32
states like Arizona and Texas. Well, that's
10:35
just too much. And President
10:37
Trump should have been vilified for that, right?
10:39
And so we are
10:41
misplaced. We're borrowing money to
10:44
give to a country instead of
10:46
taking care of our own borders,
10:48
where the Senate, after voting for
10:50
this, is cheering and
10:52
waving Ukrainian
10:55
flags. And then at the same time,
10:57
you have our Treasury Secretary Janet Yellen,
10:59
two, three weeks ago in Brazil, in
11:03
Brazil, the B in bricks
11:05
saying, you know, sanctioning Russian 380
11:07
billion and Forex reserves, that's not enough.
11:10
We need to confiscate them. I believe
11:12
they vote on that tomorrow. I think
11:14
to confiscate them. They can't pull more
11:16
sanctions against Russia. Yes.
11:20
And they're going to not just sanction,
11:22
but confiscate their assets. And then you
11:25
had her just this week on Monday,
11:27
or maybe last week, the end of
11:29
the week, do an interview with CNBC
11:31
threatening China. If you aid Russia and
11:33
their military, and again, C
11:35
in bricks is China. And if you
11:38
aid them, you we have no problem
11:40
with you being friends. Thanks, Janet. That's
11:42
cool. But if you aid them in
11:44
any way towards their military efforts, we
11:46
will sanction your companies, your banks and
11:49
even Beijing. So it's okay for us to
11:51
give 200 billion to the Ukraine. But
11:53
if you do it, we're going to sanction
11:55
you. And now they're threatening to sanction Pakistan
11:57
for wanting to build.
12:00
a pipeline for oil between Pakistan
12:02
and Iran. These sanctions are what
12:04
is creating the resentment and
12:07
the view that we're very hypocritical around the world.
12:09
So let's get back to gold silver and Bitcoin
12:11
now. Would you mind telling us about Miles Franklin?
12:14
But one of the most important things is that
12:16
what your father taught you about what
12:18
your deal with your father was? The
12:21
best gift I've ever been given by far. I make
12:23
all my employees do it too and they all thank
12:25
me and I thank my dad. It was the best.
12:27
You know, I think of you all the time when
12:29
I think of this because in talking
12:33
to you all the time, you talk about
12:35
getting out of the rat race and that's
12:37
part of your game and that resonates with me
12:40
because how do you get out of the
12:42
rat race? There are ways to do it. You've
12:44
enumerated that many ways, many times. But
12:46
to me, the best way I've learned personally to
12:49
get out of the rat race is to pay
12:51
yourself first. My father told me
12:53
when I started the company that every two weeks
12:55
as a 19 year old kid, I'll buy something
12:57
metal when I get paid or he'll fire me
12:59
that he wouldn't let me make the same mistakes
13:02
that he had made. And I
13:04
thought, well, if that's the only rule, I
13:06
can deal with that. 34 years later, I
13:08
look at that as the greatest gift I've
13:10
ever been given. I've run the company myself
13:13
for over two decades. He won't fire
13:15
me anymore. But the promise, I've
13:17
honored and I buy something every two weeks and I don't
13:19
look at gold and silver as an investment. I look at
13:21
it as wealth. I think too, it's not
13:24
something you buy to get wealthy. It is
13:26
wealth. If you own enough, okay, you could
13:28
be considered wealthy, but it's wealth and
13:30
paying yourself first is how you get out of that. The
13:33
reason is because in 71 Nixon took the dollar off
13:35
the gold standard and the dollar became debt. And
13:37
now our debt exactly, they say every
13:40
100 days for 90 days, US is
13:42
increasing their debt by a trillion dollars. How
13:45
long, how, you have a say, how
13:47
big is a trillion dollars? You have,
13:49
you almost cite that. Yeah,
13:52
I'm Glad you said that, because, you know,
13:54
look, most of us in our lifetime can
13:56
make a million dollars working. You may not
13:59
save it. Which can make it. And.
14:01
There's lots of billionaires out there. And.
14:04
Ah, You
14:07
know, a trillion seconds? Go. Trillion doesn't
14:09
sound like that much because a million
14:11
and billion their obtainable. I guess I'm
14:13
a trillion. Sections Go was thirty One
14:15
thousand, Six hundred, eighty Eight years ago.
14:17
Numbers are so big Some fab was
14:19
as an adult a. Your.
14:21
D One thousand, six hundred and eighty
14:23
eight years ago, Neanderthal stocking the planes
14:25
of Europe is a trillion seconds ago.
14:28
And we're adding that every hundred days.
14:30
And we're adding a hundred billion in
14:33
interest payments roughly every hundred days as
14:35
wealth. The numbers at the hockey sticks
14:37
phase where they just they start to
14:40
go up parabolic lee and to return
14:42
from that becomes almost in our Ralph
14:44
Hello cause of the banana place it
14:46
goes parabolic up. There was. No
14:49
out, Tell us about Miles Franklin And full disclosure:
14:51
I'm a client of yours or by from. What?
14:55
I've were a precious metals company been doing
14:57
for thirty four years. We do have a
15:00
website where you can purchase, but the prices
15:02
are nowhere near as good. If you just
15:04
simply send us an email at In Four
15:06
Miles Franklin and say you heard heard Me
15:09
on the Rich Dad program will send you
15:11
a priceless that will be as good or
15:13
better than anywhere in America. Will answer any
15:16
questions that you've heard here on the show
15:18
or anything else that you have questions about.
15:20
No obligation. In full of miles, find some.com
15:22
if you just want the priceless that's great
15:25
or any questions. Or want to be contacted and.
15:27
I. We've done this for thirty four years.
15:29
almost at ten billion in sales. Never had
15:31
a customer complaints ever. We've made mistakes. But.
15:34
Not enough to warrant someone to put a
15:36
nasty complaints on somewhere. Ah, we make right
15:38
if we make the mistake, but dumb as
15:40
who we are and you know some. I
15:43
was talking to someone last night and this
15:45
is what? What is one of yours? You
15:47
know your secrets. A success. I said. You
15:49
know, sometimes. I. can't remember a
15:51
day and thirty four years where i
15:53
didn't wake up looking forward to seeing
15:55
what the world has brought an end
15:57
to doing this and it's something i've
16:00
And I think you've loved what you've
16:02
done forever. And maybe that's why you're
16:04
successful. I think having
16:06
a passion is something that's important. And this
16:08
is something that, you know,
16:10
regardless of, you know, speaking
16:13
online and getting pushback or whatever,
16:15
it's my labor of love. And
16:17
it's something that I enjoy and
16:19
feel I'm contributing even a little bit to society
16:21
by doing this and that's who we are. And
16:23
that's who I am. And then your
16:26
dad had you pay yourself first. I
16:29
first started buying silver in
16:31
1964 when I started
16:33
noticing the coins had copper around them.
16:36
And then I bought my first gold in 1972. I
16:40
bought, I flew behind enemy lines in Vietnam
16:42
to look for gold. And I
16:44
realized I didn't know what gold looked like. You know,
16:46
so I was a helicopter pilot. And
16:49
so I finally had to wait to go all the way
16:51
to Hong Kong. And I'm in
16:53
the streets of Hong Kong dealing with the Chinese as
16:56
you know, they're very smart people, very
16:58
smart people. And I
17:00
was getting an education in gold and
17:02
silver and what I call
17:04
real money, you know, gold and silver are
17:06
real money. And
17:08
so I bought my first Kruger van. I
17:11
had to pay $50 for an ounce.
17:16
You know what I mean? But a few weeks ago,
17:18
it was early, it was $35. And
17:21
I still have that Kruger van. I
17:23
don't store it here in America. It's
17:26
stored outside of Switzerland in another country.
17:29
And the reason for that, as you know, which
17:31
is that the poster over your right shoulder is,
17:34
you know, Roosevelt confiscated people's
17:37
gold. So it's being a
17:39
little paranoid. My gold
17:41
is not in America and it's in
17:43
storage faults outside of Switzerland some place.
17:46
So that's my story. And
17:49
I don't save dollars. That's why I put
17:51
savers or losers. And I
17:53
saved silver and I gold. And
17:55
just recently, About 10
17:57
years ago, I started buying Bitcoin. Oh
18:00
and. I look at the
18:02
whole thing that people want to argue. You
18:04
know I hear all the time on you
18:06
tube which is better Gold or Bitcoin or
18:09
sober Bitcoin. And I was laughing
18:11
as a guy that one or people argue was a
18:13
stupid things. You know, just how
18:15
many do you have? pets hot cup?
18:17
How many ounces of gold? I may
18:19
also summer how many bitcoin or so
18:21
lot or whatever you got, but they
18:23
oughta argue. Intubated and they don't have
18:25
anything that makes no sense to me.
18:28
Or. Wine and I
18:30
arrived. I rue the the I'm.
18:33
The. Debate. I mean, Last
18:35
time I saw you in person was in Vancouver
18:37
and I had lunch with our mutual friend Mark
18:39
Moss and and now we Brunel and they opened
18:41
my eyes in many respects. To
18:44
some of the things that have been
18:46
thinking about the in Bitcoin and. Before.
18:49
I'd take that any further. I'll just simply
18:51
say that it is always been going all
18:53
the way back to the to when Bitcoin
18:55
was four hundred dollars a coin. I had
18:57
a gentleman working for me, name and the
18:59
Hoffman who also opened my eyes into Bitcoin
19:01
and he wanted the. We. Together
19:03
wanted to build a bridge between
19:05
the bitcoin community and the physical
19:07
metals community, because after all, the
19:10
ideology in many respects is the
19:12
same: the push back against what's
19:14
happening in the country with the
19:16
monetary and fiscal policy, the decentralization
19:18
in other words, owning something that
19:20
you hold physically that is not
19:22
simultaneously someone elses liabilities and that
19:24
didn't work out so well at
19:26
the time for various reasons, not
19:28
because of. The i'll just
19:30
because differences of opinion but since suffice
19:32
it to say my my my thinking
19:35
is that we all. Come.
19:37
In the door for the same reason
19:39
and an M and maybe the difference
19:41
between the skins had a bitcoin a
19:43
man beat. Wants. Nothing about
19:45
our madness. The reason. We.
19:47
Buy gold, silver, and bitcoin, or
19:50
the same reason. That.
19:53
Not only difference is Jamie how
19:55
many how many ounces you have.
19:58
Yeah. Well that's. Point
20:00
and I think we should be
20:02
complementary to one another and instead
20:04
of adversarial and I think anyone's
20:06
portfolio. That is rich
20:09
in bitcoin would be stronger if
20:11
some of the prophets were put
20:13
into gold. your hedging your bets
20:15
And and I'll simply say this
20:17
that. I don't the legitimize
20:19
bitcoin at all. In fact, since I had
20:22
since I last saw you I've been buying
20:24
get along with gold and silver every two
20:26
weeks. And that's new
20:28
to me. Because. I don't want to
20:30
miss out on it, and I don't wanna
20:32
miss out on what could be a global
20:34
trend. But you know, it's never really been
20:36
my focus, but I'm open minded enough to
20:38
add little bits of it on a habitual
20:40
basis. But you're right. I mean, I think
20:42
that if you look at the central banks
20:44
to the world which are the most well
20:46
informed traders, forget about a wealth of the
20:48
are. Observed I'm buying gold at
20:50
eleven. The world is never seen before. So
20:52
there is legitimacy to taking some
20:54
of the profits in crypto currencies
20:57
of people made a fortune. And
20:59
and and and put that in do something
21:02
that stable and that the biggest money, Smartest
21:04
money, most well informed traders in the world
21:06
are buying. It. Doesn't have to
21:08
be. They don't have to be mutually exclusive one
21:10
another. I think your portfolio becomes a hell of
21:12
a lot stronger. As you been
21:15
recommending for years now having allocations
21:17
to all three. Of instead
21:19
of just only looking in a you know.
21:22
In one direction broaden your horizons. You probably
21:24
end up having a stronger poor flower say
21:26
as you don't have to make something wrong
21:28
to be right to is really stupid or
21:31
that's a sudden causes war. I'm
21:33
right, you're wrong and his ass
21:35
holes who are debating gold and
21:37
silver and bitcoin and salon all
21:39
as us the assessment A bunch
21:41
of hot air. And
21:44
odd that that's the point
21:46
is. We're. Where we and
21:48
will I buy gold silver bitcoin
21:50
as as but some. It. Syria.
21:52
I'm. Simply. For the
21:54
same reason, our money as fate.
21:57
Or. Because you get it, You
21:59
get it. And you see the bigger picture
22:01
and I think we're in the minority people. Let
22:03
me say this much. I think his
22:05
name is Michael Saylor. He's micro strategies and all
22:08
that. I mean he's putting billions into
22:10
Bitcoin. Billions. You know,
22:12
I got my 60 coins and he's got
22:14
billions. I'm going holy mackerel. And
22:18
but he says what do you call a
22:20
person who saves fiat currency or the US
22:22
dollar? Poor. And
22:26
that's what's happening today. People with
22:29
old ideas are
22:31
getting poorer and poorer and poorer because
22:33
as you know, my whole shtick is
22:35
what this school teacher bought money? Nothing.
22:37
So anyway, come back. We've been going
22:39
more into this and all this. But
22:41
I'm glad we start with the macro
22:44
and then any kind of racism is
22:46
more than a sin. It's
22:48
a crime. So anyway, we'll be right back.
22:53
Have you heard about the expanding
22:56
influence of BRICS, Brazil, Russia, India,
22:58
China and South Africa and its
23:00
potential to severely impact the US
23:02
dollar by possibly creating a new
23:05
world currency? Even JP
23:07
Morgan said and I'm paraphrasing the impact
23:09
of BRICS would most likely be felt
23:11
here in the US where
23:13
moving away from the dollar would cause
23:16
our financial assets like our IRAs and
23:18
401ks to lose. We
23:21
agree with JP Morgan and many others. Now's
23:24
the time to position yourself
23:26
for stability, security and wealth
23:29
protection. So
23:31
take it from Robert and me, whether
23:33
you're a seasoned investor or just starting,
23:35
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23:38
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24:00
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you visit. Protect with robert.com today.
24:12
Are you can call Eight Four
24:14
Four Three Roberts said. Eight Four
24:16
Four Three Robert. Something
24:20
which is known as a better way to do. Things
24:22
like bundling your home and auto insurance
24:24
it all states or going to the
24:27
grocery store for milk instead of buying
24:29
on cow. Is
24:32
an easier and. Better with save us
24:34
a twenty five recent when he went
24:36
home and auto with last. Sonos.
24:39
They do vary by state and are not available in
24:41
every state, saving up to twenty five percent of the
24:43
country by after to the maximum available savings of the
24:45
home policy of the vehicle and property insurance company in
24:47
Affiliates notebook Illinois. Welcome
24:51
back Roberts your soccer, The rich that radio
24:53
show amid one thing as I don't make
24:55
a dump another financial planner don't make recommendations.
24:57
We should do This issue is that I'd
24:59
say what I do. And. Thus,
25:02
as far as it goes, you want to
25:04
do something, You do it. Gonna do it.
25:06
They'll blame it. While the reason I buy
25:08
from Miles Franklin is because I've so of
25:11
people I buy from while I go for
25:13
the information, Education so I
25:15
can call and the uncles I'm
25:18
gonna buy something and he'll always
25:20
add some bit of knowledge or
25:22
with some more history. That increases
25:24
my understanding of why I'm doing
25:27
what I'm doing. So.
25:29
We started with club or Universe Day
25:31
which is like I said there are
25:33
Teachers College and nineteen thirties by the
25:36
nazis and from Germany. To. Teach
25:38
the teachers and thus when communism spread
25:40
all across America was rak a dumb
25:42
act system and now we have rioting
25:45
anti semitic, anti Israeli in our with
25:47
loss or a whole focus of what
25:49
we do it for So and it
25:51
was telling me before went on the
25:54
air I would feel as a paper
25:56
called Cloward to fund or something that
25:58
explains what is happening. In at Columbia
26:00
and throughout the world right now. Yeah.
26:04
You know I'm before I mention what
26:06
the cloud given theory is in. I
26:08
talk a lot about a man. Him
26:10
Jared Bernstein and Jared Bernstein his lead
26:13
economic advisor. The United States government who
26:15
advocates for losing robbers er status in
26:17
is written reports on at the throne
26:19
king dollar cetera. And. You know,
26:21
by weaponizing the dollar and and telling Saudi
26:23
Arabia the linchpin of a Gemini hey, we're
26:25
going green. Would offset the
26:27
ball in motion. And I always have
26:29
said I've talked a lot about I've
26:32
talked about back with you are lots
26:34
and on your show but I've also
26:36
talked about the things that bother me
26:38
the most. about what's happening in this
26:40
country is the lawlessness, the open borders,
26:42
the the woke miss, the you know,
26:44
the the. Questioning. Of
26:46
the electoral system of the judicial system,
26:49
Mesbah bother me more than anything because.
26:52
You. Know if this country represented when
26:54
it was when you wanting to
26:56
fight for it. I
26:58
think we could. We, we were united. And
27:00
we could. We could stand up to problems.
27:02
We could fix this. We can. We get
27:04
away from it. But when people look at
27:07
what's happening in our country. all of the
27:09
things I just mentioned. I. Think they
27:11
wonder what the hell's going on in
27:13
this country now. Interestingly enough, Jared Bernstein.
27:16
To I believe is the architect of
27:18
the d dollarization plan to leave Economic
27:21
advisor the Us government Graduated. Along.
27:23
With Brock Obama from Columbia University, along
27:25
with Anthony Built in the current Secretary
27:27
States former Attorney General's Bill Barn, Eric
27:29
Holder and Madeleine Albright former Us Ambassador
27:31
to the Un and I want to
27:33
give a shoutout to our mutual friend
27:35
Mark Moss kind of turned me onto
27:37
this, opened my eyes to it. And
27:41
a blew me away because all of these
27:43
things that I've been lamenting. Over. The
27:45
past several months on. Gosh, Knows
27:47
how many podcasts I've done and talked
27:49
about it. there's a
27:51
flowered pippin strategies that i'm like oh
27:54
my god this is what they're doing
27:56
and it it's been a man named
27:58
richard cloud and friend Francis Fox Piven,
28:00
they were two professors who taught at
28:02
Columbia University, husband and wife. And
28:05
they taught us a theory
28:08
that outlined a plan to
28:10
socialize America by overwhelming
28:12
the systems with government spending and
28:14
entitlement programs. And
28:17
in essence, I'll just read a couple of the strategies. The
28:20
primary objective of the strategy is
28:22
to create chaos with the hopes
28:24
of destroying America's capitalist economy and
28:26
replacing it with a socialist system
28:28
that guarantee what then includes guaranteed
28:30
income, a massive drive to recruit
28:32
the poor onto the welfare rolls.
28:34
The point of surging welfare claims is to
28:36
enroll as many individuals as it takes to
28:39
send the United States into an economic crisis.
28:41
Now, think of the 12 million people we
28:43
just entered into this country illegally. 63%
28:46
right now of non-U.S. citizens are
28:48
currently activating some form of taxpayer-funded
28:51
welfare compared to only 35% of U.S.
28:53
households. Talk
28:56
about specifically mentioned targeting
28:58
America's large cities for their
29:01
colossal welfare push. San Francisco,
29:03
New York City, Philadelphia, Chicago,
29:06
they're overwhelmed right now and
29:08
targeting the big cities. In
29:11
a series of welfare drives in
29:13
large cities, we could believe impel
29:15
action on a new federal program
29:18
to redistribute income. They talk
29:20
about the best ways to achieve their
29:22
goals is to create a new loyal
29:24
voting bloc out of the rapidly increasing
29:27
number of welfare recipients. Do you think
29:29
these 12 million people will vote anything
29:31
other than Democrat if the Republicans say,
29:34
no, no, we're going to deport you,
29:36
let alone? No, they won't.
29:38
They will continue to vote this way. And
29:41
on and on and on. And the last piece, I
29:43
want people to research this for themselves. I don't need
29:45
to read this over. You can, in 10 minutes, you
29:48
can read about it. But the last piece that I
29:50
found really interesting was that both Cloward
29:52
and Piven agreed that a mainstream media
29:55
would play a critical role in their organized
29:57
attack against America to quote Cloward and Piven.
30:00
As the crisis develops, it will be
30:02
important to use the mass media to
30:05
inform the broader liberal community about the
30:07
inefficiencies and injustices of welfare. You
30:09
read this and you will say, my God,
30:11
they are doing this right now. And
30:14
they are overwhelming the system. Who's going to
30:17
pay for those 12 million people? You know,
30:19
Robert, the Congressional Budget
30:21
Office, which is the last nonpartisan
30:23
group in Washington, came out and said, this is
30:25
before the 12 million people came in here. By
30:29
2031, in less than seven years, 100%
30:31
of tax revenue will go just to
30:33
pay the interest on
30:38
the debt and the mandatory entitlement programs
30:41
like the $99.5 trillion shortfall in
30:45
Medicare, the $77 trillion shortfall
30:48
in Social Security. And
30:52
when you realize that military spending
30:54
is a
30:57
discretionary line item on
30:59
the budget, that means that we will
31:02
have to borrow money to fund our
31:04
military. How do we maintain our status
31:06
as the leader of the free world?
31:10
And financially and militarily, when we have to
31:12
borrow money just to fund the military, it
31:15
ain't going to happen. That's before the 12 million
31:17
people came in here. Who's going to
31:19
pay for them? They're schooling, they're housing, they're
31:21
food, they're medical. They are
31:23
overwhelming the system and creating a
31:25
system that will break. Ushering
31:27
in universal basic income, especially in the
31:30
big cities, which are becoming nightmares. Throw
31:33
into it the impending commercial real estate issue,
31:36
and it gets a whole lot worse. So I
31:39
have no faith in the US dollar holding
31:41
its value where our debt is going up,
31:43
where printing money would pay our bills. That's
31:45
like using a credit card to pay your
31:47
mortgage. I mean, it doesn't make any sense
31:50
at all. And that's why there's
31:52
no financial education in our schools. But
31:54
that's why most school teachers are Marxists.
32:00
that Mark said was that taxation
32:04
is essential for the spread of communism.
32:07
But also there was a guy named Thomas Jefferson way
32:09
back when. He says, if
32:11
we install a central bank, which the Fed
32:13
is, and the Bank of Japan and all
32:15
these guys, our people will
32:17
wake up homeless. And
32:19
homelessness is expanding. And
32:22
what I'm trying to say to people, this is not a
32:24
mistake. And if you're saving
32:26
dollars exactly as Michael Saylor says,
32:28
if you're saving fiat currency like
32:31
the yen, the euro, the peso, you're
32:33
called a poor person. Getting poor and
32:35
poor because your education hasn't kept up
32:37
with the times. And
32:39
that's a problem of going to school where
32:41
Marxists teach education. So who
32:44
was Obama's classmate at Columbia? I
32:47
don't know if they were classmates, but Jared
32:49
Bernstein went there as well. And if you
32:51
Google Jared Bernstein, Cloud Piven Theory, you'll see
32:53
there's a gazillion articles. He supports it. And
32:56
Jared Bernstein is the lead economic advisor of
32:58
the United States government who advocates for losing
33:01
the reserve status. What better way
33:03
to lose the reserve status than to tell Saudi
33:05
Arabia the linchpin of it and OPEC, hey, we're
33:07
going green. Look, I want a clean world too.
33:10
But to go and say that to Saudi
33:12
Arabia means you are threatening the existence of
33:14
the petrodollar and then sanction
33:16
and weaponize and even confiscate foreign
33:18
reserves and tell other people you
33:20
can do this, but you can't.
33:22
Look, we invaded Iraq 20 years
33:24
ago. We're still occupying their country,
33:26
sanctioning 14 of their banks and
33:29
holding their oil revenue. They
33:31
asked us for a billion dollars out of the 95 billion
33:34
in oil revenue that they made last year that's held at
33:36
the New York Fed. We said, that's not a good time.
33:38
So what have they done? Formally applied the BRICS,
33:41
they're kicking Western coalition forces out of the
33:43
country, made trading in dollars illegal. If you
33:46
own a business and trade in Iraq, you
33:48
will go to jail and they'll take your
33:50
company. And as of January of this year,
33:52
they got rid of all green bills, $100 bills. They're
33:55
out of every bank in Iraq. We're viewed
33:57
as hypocritical. We can do it. You
33:59
can't. If we're not on our side ideologically,
34:02
we're going to confiscate your Forex reserves. This
34:04
is why they're all selling Treasuries and
34:07
buying gold because it has no counterparty
34:09
risk. So, counterparty risk means there's nobody,
34:11
there's gold is money. Silver is
34:13
money. Of the two, just for
34:15
to keep people happy, you have gold, silver.
34:18
I have silver eagles
34:20
and gold eagles. Which
34:23
do you – I mean, I think silver is
34:25
the best buy simply because a person can afford
34:27
it. It's about $30 today, US. This is 2024.
34:32
But Bitcoin, you can get a Satoshi or whatever
34:35
that is, you know, Japanese name. But
34:37
people are still insisting on
34:39
saving fake money, fiat currency.
34:42
That's how I wrote the book, Fake. And
34:46
people are getting poorer and poorer in
34:48
America because most of our
34:50
school teachers are Marxist.
34:54
And they hate the rich. That's
34:56
why they're going after Trump. They hate
34:59
him because he's a rich man. He's
35:01
charged for doing what every real estate
35:03
investor does. We pad
35:06
our financials. We say this
35:08
is how much this building is worth and
35:10
all this. And
35:12
as my rich dad said to me a
35:14
long time ago, he says – so we
35:16
fill out the financial statements. He says the
35:18
difference between your lies and my lies and
35:20
my lies comes true. And so
35:23
what Trump did, he kind of lied on
35:25
his financial statement, but he came true. He
35:27
paid everybody back. But now they're
35:29
going to take down the former president of the
35:31
United States just so that guys
35:34
like Biden, FBI can't find his
35:36
laptop. And
35:38
what about – isn't Biden
35:40
receiving money from Russia, Ukraine, and China?
35:43
Yeah, I mean, it's just
35:45
a complete and total joke. Don't forget about the
35:47
cocaine that they destroyed without checking the fingerprints or
35:49
any of the – I mean, the whole thing
35:51
is a joke. It's a complete and total joke.
35:53
I live not too far from Mar-a-Lago. And
35:55
Sylvester Stallone just bought a house there
35:58
for $30 million on the phone. Palm
36:00
Beach and they're trying and it's
36:03
a fraction of the size of Mira Lago and Mira
36:05
Lago is a much better piece of property. They're saying
36:07
it's 18 million, not the value. I mean, the whole
36:09
thing is just a joke. It's really
36:11
it's really a joke and it's an embarrassment
36:13
to this country. It's embarrassment to a guy
36:15
like you who risked his life fighting for
36:17
a country that that held
36:19
a higher moral ground than the rest of the
36:21
world. I find it to be more repugnant than anything
36:24
we've done mismanaging the World
36:26
Reserve currency. It's what we are doing
36:28
to the reputation to to
36:30
to Liberty to the reputation of a country that
36:32
that was once the beacon of light around the
36:35
world. And now people are saying what the hell
36:37
has gone on and your question about what
36:39
is better? Yeah, I mean Satoshi is what
36:42
you're talking about. You can buy little pieces
36:44
of Bitcoin. Sure. It's great. People can own
36:46
it and hold it in their
36:48
own possession off off the exchange. No
36:50
counterparty risk in terms of gold
36:52
and silver. Look, if I had one trade,
36:54
it might be gold only because it was
36:57
reclassified the world's only other tier one asset
36:59
by the Bank of International Settlements, which is
37:01
the most powerful bank on the planet. Yet,
37:04
I think silver is the trade of a generation. If
37:06
I had two trades, I'd buy silver maybe
37:08
with the intention of down the road when the
37:10
ratio between the two correct trading it back into
37:13
gold. Interesting thing about silver.
37:16
I'd like to mention the Silver
37:18
Institute came out with their numbers
37:20
recently and said 185
37:22
million ounce shortfall this year over 200 million last
37:25
year, but in it they it's
37:27
very conspicuous. They do not mention
37:29
silver in the military industrial complex
37:31
at all. No, there is no
37:33
military breakout. Two years ago,
37:35
I gave a speech in Vancouver the same
37:37
place. I saw you last time at Jay
37:40
Martin's Vancouver Resource Investment Conference, one of the
37:42
best one of only two I go
37:44
to conferences all year. Everyone should check him out. He's
37:47
a mutual friend of ours and a great dude.
37:49
And in it, I said
37:51
there's 500 ounces in the Tomahawk cruise missile
37:54
and a guy came up to me. He sent me this
37:56
cup. He
37:58
says I work. For the Department of
38:00
Defense and I actually helped design the Patriot Missile and
38:03
another silver and and I just don't know how much.
38:05
Well. Last time we were there when I saw
38:07
you last he came up to me after my
38:09
last three to he said you know what you
38:11
were right there is about fourteen to fifteen kilograms
38:13
and the tip of a tomahawk and he showed
38:15
me all sorts of pictures the door this is
38:17
all declassified and we talk for an hour. He
38:19
does he at text me a couple days by
38:21
going to get back to him and. Talk.
38:24
Some more because. They. Didn't
38:26
listed. In any of
38:28
the. Supply. Demand fundamental.
38:31
So when you think of all
38:33
the missiles hi tech missiles much
38:35
as tomahawks an aerospace that need
38:37
silver. And ask yourself, why would
38:39
a commercial bank like Bank of America
38:41
be short? One billion ounces naked short
38:44
of silver? Why was Jp Morgan so
38:46
short? While Jp Morgan pay nine hundred
38:48
and twenty million dollar fine for suppressing
38:50
the market and still allowed to be
38:52
the custodian of the world's largest silver
38:54
trust, the largest find the Justice Department
38:56
ever issued and nets are still allowed
38:58
to do at the point of it
39:00
is is is a silver is the
39:02
military industrial complex. Holding. The
39:05
price of silver down so they can
39:07
create all of these high tech weapons
39:09
to sell all around the world to
39:11
fund the continuation of war all around
39:13
the world. Could it be that simple?
39:15
I don't know, but ask yourself if
39:17
indeed was confirmed by this gentleman a
39:19
D O D consultant who said yes,
39:21
there is that much in a tomahawk.
39:23
Think of all the missiles and ask
39:25
them, why is it not in the
39:27
supply demand fundamentals and then ask yourself,
39:30
why would a handful of commercial banks
39:32
hold the largest concentrated short position in
39:34
any commodity. Traded on call max. Found.
39:36
In silver it makes no sense until
39:38
you take a surprising could that be
39:40
a. Fine. Line between conspiracy. In
39:42
reality I let you all decide, but in
39:44
my mind. Absolutely Wife They
39:46
are allowing these commercial banks to
39:49
suppress silver in order to fund
39:51
the Military Industrial complex efforts. And
39:53
who is Military Industrial complex out?
39:56
And as a Black Rock and
39:58
Vanguard's they own everything. in
40:00
ETFs. Could it be them? Maybe.
40:02
Don't know. I'll let you all decide. Well,
40:04
that's the whole point here is that the
40:06
whole thing is so rigged. It's
40:10
terrifying. And that's why counterparty risk means
40:13
I don't want to own a stock because
40:15
I don't know who's got it. Like if
40:18
I borrow money, I mean, who's the guy who's going
40:20
to pay me back? If I
40:22
want to know. And gold and silver, you don't
40:24
need that. So I miss Bitcoin. You have no
40:27
counterparty risk. Like would you lend
40:29
your stupid brother-in-law a million dollars? You
40:31
know what I mean? No.
40:33
Because the guy doesn't even have a job.
40:37
And so the point, another thing you
40:39
made was complete with this is
40:42
not only is silver using batteries with
40:44
EVs and all that. And I bought
40:46
my first EV. I love the car.
40:48
It's a Cadillac Lyric. I
40:50
go past gas stations and all that. And I own
40:53
oil wells, some kind of trader to my
40:56
industry. But I
40:58
like the battery car. I don't
41:00
go far distances, but I love the car.
41:03
But the thing about no counterparty risk and all
41:05
this, it's getting
41:09
scarcer and scarcer and scarcer,
41:11
much like Bitcoin, because silver
41:14
is consumed just
41:16
as Bitcoin has a finite. And
41:19
that's one reason I like silver. And most
41:21
people can afford 35 bucks today.
41:24
So well, when
41:26
you talk about the counterparty risk in silver, and
41:28
it is getting scarcer. So if you think you
41:30
own, for example, a COMEX contract of silver, which
41:32
is 5000 ounces, currently
41:35
the registered category is rehypothecated. Those
41:37
are the bars that are on
41:39
COMEX. People hold contracts that they
41:41
think they own. They can take
41:43
delivery of. It's rehypothecated roughly about
41:45
1800 percent. Meaning
41:48
if everyone's good for delivery, 17 would
41:50
get cash, one would get the bar. You've
41:52
got to explain what rehypothecate means. Edges
41:55
means selling the same asset over and over and
41:57
over and over and over and over again. because
42:00
of the leverage most people never stood for
42:02
delivery ever and when they develop the
42:05
comax market they figured here's how we can do
42:07
it we can. Let people pretend
42:09
to pay and we can pretend to give it
42:11
to him what i mean by that is
42:13
that if i buy a comax contract to hedge
42:15
my inventory. I just have to
42:17
have about eight thousand dollars in my margin
42:19
account the trades fifteen bucks or less the
42:21
eight thousand dollars in my margin account as
42:23
long as the price doesn't go against me
42:25
allows me to control. A hundred
42:27
ounces ago my could stand for delivery but
42:30
that's what i mean about pretend to pay
42:32
for now they can pretend that i own
42:34
it by rehype selling that same contract over.
42:38
Simple it very simply means they're
42:41
selling the same product over
42:43
and over and over again
42:45
that's what rehypothecate means so
42:47
if somebody says well where's my silver.
42:50
We're in trouble well that's right it would be
42:52
only one out of eighteen would get their silver
42:54
the rest would get cash on that's
42:57
part of the fractional reserve system that
42:59
banks run on. So i
43:01
think one of the biggest things we should
43:03
he was from thomas jefferson again. Like
43:06
he says that if central bank takes over
43:08
which is the fed the year
43:11
i mean the bank of england bank of
43:13
japan. This is our
43:15
people will wind up homeless in the land
43:17
their fathers fought for and
43:19
that's what's happening right now homelessness is
43:21
increasing very simply because every
43:23
time they print money. Asset
43:26
prices go up. But
43:29
when you print money so does
43:31
food and gasoline and all that
43:33
go up so people like you
43:35
and me because we're saving gold
43:37
and silver the asset price goes up
43:39
so we get richer but
43:41
for the people who are saving money.
43:44
They're getting poor and that's why
43:47
michael sailors is what you call a person who
43:49
saves fiat currency poor.
43:52
And because there's no financial education in
43:54
our schools the poor are getting poor
43:57
now they can afford to buy a
43:59
house they can't afford. for the rent
44:01
and homelessness goes up. But
44:03
this is why I'm so adamant about why do
44:06
we have financial education in schools? The Rich Dad
44:08
Company is for. But
44:11
that's why I love what you
44:13
do, because every time I buy from you, you always
44:15
educate me. So final words,
44:17
Andy, how can people get in touch with
44:19
Miles Franklin? And how do you recommend they
44:21
start if they want to? I make no
44:24
money from this. I'm not saying you should.
44:26
I'm not a financial advisor. So how
44:29
would people get in touch with
44:31
Miles Franklin? No, I love you,
44:33
Robert. And I appreciate your kind
44:35
words. infoatmilesfranklin.com. Say you heard me
44:37
on the Robert Kiyosaki show. And
44:39
we will send you the
44:41
current price list, which will be far more
44:44
competitive than anything you see on our website
44:46
and most of every other company in America.
44:48
Any questions you've heard on here you want to
44:51
be expanded upon, or any questions you have,
44:53
info at Miles Franklin. And we will make
44:55
it a very, very, very good experience. You
44:57
have my word on that. And one of
44:59
the problems with gold and silver is storage. Well,
45:03
how does Miles Franklin mitigate that? So
45:06
I think that if you can hold it
45:08
yourself, it behooves you because of the lack
45:11
of counterparty risk and having no one
45:13
in between you and your money. But
45:15
we do, I think, have the finest storage program
45:18
in the industry. I think we're the envy of
45:20
the storage industry. We have a exclusive arrangement that
45:23
no one else has with brings for
45:25
a fixed rate storage program all
45:28
throughout nine volts around the country, and
45:30
meaning it's based on the ounces rather
45:32
than the value. That's very unusual in
45:34
the industry. And
45:36
if you need to store it, all of our
45:39
storage accounts are 100%
45:41
segregated, insured, and audited
45:44
semi-annually for safety. The reason I
45:46
laugh is you deal
45:48
with attorneys. A lot of them are basically
45:50
smart people. But
45:53
they lack a lot of common sense, if you know what I mean. Every
45:56
attorney I meet, I say, how in the world?
46:00
you are as an attorney, you don't know much about that. But
46:02
I was at this one conference, you
46:05
know, masses of people, and this
46:07
attorney stands up there and he says, yeah,
46:09
I own gold and silver and said, he says, where do
46:11
you keep it? I keep it at my house. I
46:16
just cracked up. I says, why don't you say come
46:19
over to my house for potluck? Yeah,
46:24
well, and that's the thing about storage. If
46:26
you're going to store it, make sure you
46:28
do it with a very reputable company. And
46:30
that's why I partnered with Brinks in storage,
46:33
because they're the finest in the industry. Over
46:35
100 years, they've never had an attempted break
46:38
in any of their facilities. So that's
46:40
who I choose. And the end up is the
46:42
Cloward Piffin, that's the paper. P-I-V-E-N,
46:45
Cloward Piffin theory. Well, Andy, thanks
46:47
so much for being an educator,
46:49
most importantly, but also is that
46:52
we both had, my poor dad saved
46:55
money. That's why he was poor, really
46:57
sad, you know, and
46:59
my rich dad, he didn't
47:01
save gold, he saved silver, because
47:03
we couldn't, you know, silver, gold was illegal
47:05
for us to remember. Yeah,
47:08
until 1974. That's right. So
47:10
anyway, and the rule
47:12
of thumb is always pay yourself first. It
47:16
is indeed, it is indeed. And I'm always so
47:18
happy to be here and to see you. You
47:20
look great. Thanks for having me. And in
47:23
a world that's going to get increasingly volatile
47:25
leading up to the big meeting in October
47:27
for the bricks, where 36 more countries have
47:29
formally applied, and then the election the month
47:31
after, I'm sure there'll be lots to talk
47:33
about. So I'm always willing to jump on.
47:36
And in the meantime, I hope you and everyone
47:38
else out there stay well. As the Chinese curse
47:41
goes, may you live in interesting times. And boy,
47:43
these are getting more and more interesting by the
47:45
day. So I hope everyone stays well. So anyway,
47:47
thank you very much. And then we'll see you
47:49
around the block. And I'll be
47:52
right back with the final words from Rich Dad. Some
47:58
people just know there's a better way. to do things
48:01
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48:03
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49:01
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49:03
Show. We make no recommendations. I'm not a
49:05
financial advisor and I make
49:07
no commissions off of Andy Scheckman
49:09
or Gold or Silver. I
49:12
appreciate Andy because he's first an educator and the
49:14
reason I like dealing with him is to get
49:16
my education. And one of
49:18
the rules of thumb about investing is
49:21
only invest in what you understand or
49:23
start really small. So I
49:25
started really small in Bitcoin and
49:28
I got on late with 6,000 a coin and today it's
49:32
about 60,000. So
49:35
that's how I learned. But anyway a
49:38
couple of... this is April 2024 and
49:40
two weeks ago I was in Marlago,
49:43
Trump's place right near Bandylars
49:46
in Palm Beach, Florida.
49:49
And the big riot, not
49:51
the riot but there was a huge crowd that
49:53
showed up on Fort Trump. It
49:56
was called Border 911. thousands
50:00
of people showed up paying like $2,000 for a seat
50:02
to hear people talk
50:05
about how we're going to stop the open border
50:07
that Biden, as you may know, Trump
50:09
put the wall up and Biden took the wall down.
50:13
So I think Biden is one of
50:15
the biggest, most treasonous individuals, president we've
50:17
ever had. But as
50:19
I always say in closing, don't
50:23
pay attention to what a person says. Watch
50:25
what they do. And what Biden
50:28
is doing is destroying this company.
50:30
That person, Jared Bernstein is on
50:32
Biden's staff. So
50:34
please understand that this is not Democrat
50:36
Republican. This is about capitalism
50:39
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50:42
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