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These are the user uploaded subtitles that are being translated: 251 00:11:12,399 --> 00:11:16,600 depth with every dollar created they get 252 00:11:14,590 --> 00:11:18,340 more interest paid back to me once 253 00:11:16,600 --> 00:11:19,659 they've taken this money from the Fed 254 00:11:18,340 --> 00:11:21,070 Reserve it's like selling your soul to 255 00:11:19,659 --> 00:11:22,929 the devil you don't really have a choice 256 00:11:21,070 --> 00:11:24,370 in which of those you pass or what she 257 00:11:22,929 --> 00:11:27,039 wants you to vote no where yes for 258 00:11:24,370 --> 00:11:30,669 listen isn't much altruism when you're 259 00:11:27,039 --> 00:11:33,069 flooded with cash how long have they 260 00:11:30,669 --> 00:11:35,019 been trying to do this forever night 261 00:11:33,070 --> 00:11:37,629 girls are like that yeah if you let him 262 00:11:35,019 --> 00:11:41,819 do it which you need is gutsy presidents 263 00:11:37,629 --> 00:11:41,820 could see Congress people to prevent it 264 00:11:46,100 --> 00:11:50,610 as humans were designed to worry about 265 00:11:48,480 --> 00:11:52,528 the next tribe coming over and attacking 266 00:11:50,610 --> 00:11:54,750 our clan and Men our dishonor to look 267 00:11:52,528 --> 00:11:57,179 out towards the horizon and see threats 268 00:11:54,750 --> 00:12:00,568 but we only see military threats or 269 00:11:57,179 --> 00:12:02,969 criminal threats or thugs we have not 270 00:12:00,568 --> 00:12:04,769 been designed to see corporate threats 271 00:12:02,970 --> 00:12:06,690 where global corporations get their 272 00:12:04,769 --> 00:12:08,549 people into government then the traitors 273 00:12:06,690 --> 00:12:10,440 in government sign government authority 274 00:12:08,549 --> 00:12:12,659 over to that that's how this incremental 275 00:12:10,440 --> 00:12:14,430 treason to the North American Union the 276 00:12:12,659 --> 00:12:16,649 European Union now becoming more and 277 00:12:14,429 --> 00:12:18,599 more dictatorial has been set up 278 00:12:16,649 --> 00:12:20,549 you have to ultimately in a free market 279 00:12:18,600 --> 00:12:22,528 assume the risks and responsibilities 280 00:12:20,549 --> 00:12:24,179 associated with the freedom again to 281 00:12:22,528 --> 00:12:25,860 succeed and the freedom to fail we don't 282 00:12:24,179 --> 00:12:27,719 have that so the Federal Reserve's going 283 00:12:25,860 --> 00:12:31,289 to create Mickey Mantle baseball cards 284 00:12:27,720 --> 00:12:33,990 ad nauseam and infinite Zoma they're 285 00:12:31,289 --> 00:12:35,490 gonna just print them out to cover all 286 00:12:33,990 --> 00:12:36,690 these bad debts that went wrong when 287 00:12:35,490 --> 00:12:38,940 goldman sachs Federal Reserve 288 00:12:36,690 --> 00:12:40,350 shareholder decided to sell a whole 289 00:12:38,940 --> 00:12:42,360 bunch of visa securitized mortgages 290 00:12:40,350 --> 00:12:43,589 thanks to the repeal glass-steagall to 291 00:12:42,360 --> 00:12:46,199 foreign investors all over the world 292 00:12:43,589 --> 00:12:48,509 that went bad and they knew would go bad 293 00:12:46,198 --> 00:12:50,458 the fraud element comes in they knew 294 00:12:48,509 --> 00:12:51,990 they were going to go bad so the Federal 295 00:12:50,458 --> 00:12:53,578 Reserve creates moral hazard again for 296 00:12:51,990 --> 00:12:55,680 these large banks by saying don't worry 297 00:12:53,578 --> 00:12:58,708 we'll paper it over we're in the midst 298 00:12:55,679 --> 00:13:00,299 of a serious financial crisis and the 299 00:12:58,708 --> 00:13:04,198 federal government is responding with 300 00:13:00,299 --> 00:13:05,370 decisive action over 700 points Apple 301 00:13:04,198 --> 00:13:07,078 shares are just getting hammered weighed 302 00:13:05,370 --> 00:13:10,049 down by between three and four and a 303 00:13:07,078 --> 00:13:12,599 half percent a national rescue where 85 304 00:13:10,049 --> 00:13:13,549 billion dollar deal and supply urgently 305 00:13:12,600 --> 00:13:14,778 needed money 306 00:13:13,549 --> 00:13:17,240 so banks and other financial 307 00:13:14,778 --> 00:13:19,879 institutions can avoid collapse and 308 00:13:17,240 --> 00:13:22,879 resume lending not passing a bill now 309 00:13:19,879 --> 00:13:23,689 would cost these Americans much more 310 00:13:22,879 --> 00:13:26,360 later 311 00:13:23,690 --> 00:13:28,459 and every time they manufacture a 312 00:13:26,360 --> 00:13:30,500 depression in the marketplace they 313 00:13:28,458 --> 00:13:32,599 receive a bailout smaller competitors do 314 00:13:30,500 --> 00:13:35,059 not so they can buy up the assets again 315 00:13:32,600 --> 00:13:37,040 the things of tangible actual value from 316 00:13:35,059 --> 00:13:39,799 the productive people in the economy and 317 00:13:37,039 --> 00:13:40,879 they're confiscating it on pennies on 318 00:13:39,799 --> 00:13:42,849 the dollar because when you're 319 00:13:40,879 --> 00:13:45,289 liquidating in a chapter 11 bankruptcy 320 00:13:42,850 --> 00:13:48,230 situation here to take whatever you can 321 00:13:45,289 --> 00:13:50,000 get then Goldman Sachs JP Morgan bank of 322 00:13:48,230 --> 00:13:52,100 America if it's true then take control 323 00:13:50,000 --> 00:13:53,600 of all those assets they didn't produce 324 00:13:52,100 --> 00:13:57,080 anything they didn't make anyone's life 325 00:13:53,600 --> 00:13:58,759 better but the roll in the door that the 326 00:13:57,080 --> 00:14:01,459 primary problems here is that there's an 327 00:13:58,759 --> 00:14:05,600 absolute unification of money and power 328 00:14:01,458 --> 00:14:08,929 and government and you need to try for 329 00:14:05,600 --> 00:14:11,450 the sake of sanity and liberty to try 330 00:14:08,929 --> 00:14:14,599 and price those things apart because at 331 00:14:11,450 --> 00:14:16,040 the moment that they are one in the 332 00:14:14,600 --> 00:14:18,079 Roman period they used to talk about 333 00:14:16,039 --> 00:14:20,569 bread and circuses as entertainment for 334 00:14:18,078 --> 00:14:22,519 quote unquote the mall it's not quite 335 00:14:20,570 --> 00:14:24,260 that obvious but the truth is they 336 00:14:22,519 --> 00:14:26,028 everybody gets to drive a better car 337 00:14:24,259 --> 00:14:27,950 everybody gets to live in a nicer home 338 00:14:26,028 --> 00:14:30,230 and what we really want people to do is 339 00:14:27,950 --> 00:14:32,120 go to the mall and shop and be 340 00:14:30,230 --> 00:14:34,850 entertained they've been very successful 341 00:14:32,120 --> 00:14:37,669 in turning the body of the American 342 00:14:34,850 --> 00:14:40,250 population into sedated consumers well 343 00:14:37,669 --> 00:14:42,289 you can only sedate the consumer so long 344 00:14:40,250 --> 00:14:43,909 when the consumer runs out of his 345 00:14:42,289 --> 00:14:45,828 ability to consume when he suddenly 346 00:14:43,909 --> 00:14:47,569 wakes up and recognizes that what he 347 00:14:45,828 --> 00:14:49,669 thought he had he doesn't the money he 348 00:14:47,570 --> 00:14:52,970 thought he had his gaunt the wealth he 349 00:14:49,669 --> 00:14:55,809 was promised is is vanished that's when 350 00:14:52,970 --> 00:14:55,810 the game is up 351 00:15:03,049 --> 00:15:08,579 today inside Washington the mainstream 352 00:15:06,149 --> 00:15:10,049 mentality is that you and I and the rest 353 00:15:08,580 --> 00:15:12,000 of us that are talking in these terms 354 00:15:10,049 --> 00:15:14,279 are out of touch with reality our 355 00:15:12,000 --> 00:15:15,870 banking system is a safe and a sound one 356 00:15:14,279 --> 00:15:17,159 our deficit problems are completely 357 00:15:15,870 --> 00:15:19,590 managed everything will be fine we'll 358 00:15:17,159 --> 00:15:20,789 pass some reforms it's a new legislation 359 00:15:19,590 --> 00:15:22,769 we'll make it all right 360 00:15:20,789 --> 00:15:25,169 part of the scam of government by 361 00:15:22,769 --> 00:15:27,059 printing money by borrowing money we 362 00:15:25,169 --> 00:15:29,159 don't have to tax people directly we can 363 00:15:27,059 --> 00:15:31,859 commit intergenerational child abuse and 364 00:15:29,159 --> 00:15:35,429 pass that bill off to the people who 365 00:15:31,860 --> 00:15:37,050 when born into America have a $45,000 366 00:15:35,429 --> 00:15:39,839 stone around their neck as their share 367 00:15:37,049 --> 00:15:42,539 of just the federal debt in its most 368 00:15:39,840 --> 00:15:44,580 conservatively estimated forms people 369 00:15:42,539 --> 00:15:47,969 keep throwing around these numbers that 370 00:15:44,580 --> 00:15:50,430 were 15 trillion in debt 1617 those are 371 00:15:47,970 --> 00:15:52,529 all old numbers it came out in Bloomberg 372 00:15:50,429 --> 00:15:54,689 financial and other news outlets that 373 00:15:52,529 --> 00:15:56,610 under Obama's administration in the 374 00:15:54,690 --> 00:15:58,560 first two years over twenty three point 375 00:15:56,610 --> 00:16:00,330 seven trillion is missing and that's on 376 00:15:58,559 --> 00:16:02,069 top of all the missing trillions from 377 00:16:00,330 --> 00:16:04,020 Bush raising the debt ceiling which is 378 00:16:02,070 --> 00:16:07,350 done been done over a hundred times does 379 00:16:04,019 --> 00:16:09,990 not increase our debt we have now seen 380 00:16:07,350 --> 00:16:12,899 our national debt go to the tune of 211 381 00:16:09,990 --> 00:16:16,529 trillion dollars if you consider all the 382 00:16:12,899 --> 00:16:18,840 government guarantees to workers for 383 00:16:16,529 --> 00:16:20,100 their retirements and a penchant etc 384 00:16:18,840 --> 00:16:21,690 we're at a point now where if you were 385 00:16:20,100 --> 00:16:23,460 to tax the American public the tune of 386 00:16:21,690 --> 00:16:24,900 100 percent of their income for 20 years 387 00:16:23,460 --> 00:16:27,090 you wouldn't put a dent in the interest 388 00:16:24,899 --> 00:16:29,250 and we see the economy falling apart and 389 00:16:27,090 --> 00:16:30,750 before people said you know I can't 390 00:16:29,250 --> 00:16:33,179 really believe that this is all just by 391 00:16:30,750 --> 00:16:35,669 design how did the tens of trillions of 392 00:16:33,179 --> 00:16:36,899 dollars go missing and then Ben Bernanke 393 00:16:35,669 --> 00:16:38,490 the Fed Chairman just laughs at 394 00:16:36,899 --> 00:16:39,840 congressmen and Senators when they asked 395 00:16:38,490 --> 00:16:41,460 him hey where's the missing trillions 396 00:16:39,840 --> 00:16:42,000 when everybody's struggling in this 397 00:16:41,460 --> 00:16:43,860 economy 398 00:16:42,000 --> 00:16:46,139 Ben Bernanke is out celebrating at this 399 00:16:43,860 --> 00:16:48,360 huge gala event meanwhile there's 400 00:16:46,139 --> 00:16:50,699 children starving what'd you do at the 401 00:16:48,360 --> 00:16:52,470 2008 Bilderberg meeting I'm not doing 402 00:16:50,700 --> 00:16:54,360 any press today for people in high 403 00:16:52,470 --> 00:16:57,330 office and high places there is no 404 00:16:54,360 --> 00:16:58,950 accountability and they like that and 405 00:16:57,330 --> 00:17:01,020 it's a wonderful situation to be in 406 00:16:58,950 --> 00:17:01,930 never having to answer for for what 407 00:17:01,019 --> 00:17:05,349 you've done 408 00:17:01,929 --> 00:17:09,519 you tell the American people to whom you 409 00:17:05,349 --> 00:17:12,639 land 2.2 trillion of their dollars tell 410 00:17:09,519 --> 00:17:14,470 us who they are know you're in debt our 411 00:17:12,640 --> 00:17:19,559 kids are in debt our grandchildren are 412 00:17:14,470 --> 00:17:19,558 in death it's time to stop 413 00:17:22,299 --> 00:17:25,838 [Applause] 414 00:17:29,519 --> 00:17:34,710 and if I recall back in 2009 I think it 415 00:17:32,369 --> 00:17:36,719 was they said that people when in comes 416 00:17:34,710 --> 00:17:38,308 our threat to their agenda it seems to 417 00:17:36,720 --> 00:17:39,899 me that they want to make sure that the 418 00:17:38,308 --> 00:17:43,109 people don't have any money to fight 419 00:17:39,898 --> 00:17:45,869 back being that that my baseball coach 420 00:17:43,109 --> 00:17:49,069 as a child taught me the most is that in 421 00:17:45,869 --> 00:17:52,829 life you are going to lose okay I have a 422 00:17:49,069 --> 00:17:55,048 side if winners then who's gonna pick up 423 00:17:52,829 --> 00:17:58,319 the trash yeah who's gonna flip the 424 00:17:55,048 --> 00:18:01,490 burgers you know but that many college 425 00:17:58,319 --> 00:18:01,490 dishes in the world right 426 00:18:02,519 --> 00:18:05,598 [Music] 427 00:18:10,029 --> 00:18:16,240 our deficits are to such a degree that 428 00:18:13,359 --> 00:18:17,709 when you cannot cover it via taxation no 429 00:18:16,240 --> 00:18:19,329 one's willing to loan you money anymore 430 00:18:17,710 --> 00:18:22,180 that's what we've been doing you've been 431 00:18:19,329 --> 00:18:24,129 borrowing our way to financial 432 00:18:22,180 --> 00:18:26,560 prosperity from foreign central banks 433 00:18:24,130 --> 00:18:27,970 and they won't lend to us anymore 434 00:18:26,559 --> 00:18:31,119 because they know mathematically we 435 00:18:27,970 --> 00:18:32,620 cannot pay it back via taxation bottom 436 00:18:31,119 --> 00:18:34,959 line that's what this is about 437 00:18:32,619 --> 00:18:38,669 they're just creating money they're 438 00:18:34,960 --> 00:18:38,670 devaluing it and there's no alternative 439 00:18:40,140 --> 00:18:44,470 you understand the principles of the 440 00:18:42,490 --> 00:18:46,359 debt supercycle and eventually that 441 00:18:44,470 --> 00:18:48,130 supercycle comes to an end the u.s. 442 00:18:46,359 --> 00:18:49,389 treasury bond is the largest bubble out 443 00:18:48,130 --> 00:18:52,450 there bigger than the credit card in the 444 00:18:49,390 --> 00:18:53,620 education bubble it's several times 445 00:18:52,450 --> 00:18:56,049 bigger and they're going to discover 446 00:18:53,619 --> 00:18:57,339 this unfortunate fact very painfully and 447 00:18:56,049 --> 00:18:58,930 what happens then in times of economic 448 00:18:57,339 --> 00:19:00,759 crises is you go back to the world 449 00:18:58,930 --> 00:19:03,250 reserve currency you buy up US Treasury 450 00:19:00,759 --> 00:19:05,129 bills because it's a store of value they 451 00:19:03,250 --> 00:19:07,480 can dump that on our market at any time 452 00:19:05,130 --> 00:19:11,050 great overnight hyperinflation and ease 453 00:19:07,480 --> 00:19:12,940 all commerce shuts down and its best 454 00:19:11,049 --> 00:19:14,919 friend in the Gulf may be in for a 455 00:19:12,940 --> 00:19:17,080 difficult breakup the Saudi prince 456 00:19:14,920 --> 00:19:19,810 Bandar bin Sultan said there will be 457 00:19:17,079 --> 00:19:22,329 quote a major shift away from the US 458 00:19:19,809 --> 00:19:24,339 well if you know that in six months your 459 00:19:22,329 --> 00:19:25,750 dollars are gonna lose 20% of the value 460 00:19:24,339 --> 00:19:27,730 you're not going to save them which is 461 00:19:25,750 --> 00:19:30,279 what we depend upon you're sure as hell 462 00:19:27,730 --> 00:19:31,809 not gonna back your currency like you're 463 00:19:30,279 --> 00:19:34,240 gonna buy shit up all the bindings good 464 00:19:31,809 --> 00:19:35,740 you see it now you got China out buying 465 00:19:34,240 --> 00:19:38,109 up infrastructure all over the United 466 00:19:35,740 --> 00:19:39,460 States Russia doing the same thing so 467 00:19:38,109 --> 00:19:41,319 they're taking these worthless US 468 00:19:39,460 --> 00:19:42,940 dollars they're buying up this country 469 00:19:41,319 --> 00:19:45,279 and then they'll be our flight to safety 470 00:19:42,940 --> 00:19:47,830 and commodities gold silver etc to save 471 00:19:45,279 --> 00:19:53,089 what you have left 472 00:19:47,829 --> 00:19:56,210 so essentially at some point all of the 473 00:19:53,089 --> 00:19:57,619 world's banks are going to dump dollars 474 00:19:56,210 --> 00:20:00,110 and those dollars and start chasing 475 00:19:57,619 --> 00:20:01,250 goods and services and as the means of 476 00:20:00,109 --> 00:20:03,579 production becomes more and more 477 00:20:01,250 --> 00:20:06,769 handicapped by government intervention 478 00:20:03,579 --> 00:20:09,408 more and more regulation less people are 479 00:20:06,769 --> 00:20:11,778 going to invest the whole thing falls 480 00:20:09,409 --> 00:20:13,130 apart the news you see this is happening 481 00:20:11,778 --> 00:20:14,750 right now the smartest minds in the 482 00:20:13,130 --> 00:20:17,480 world are saying these bonds are cooked 483 00:20:14,750 --> 00:20:21,259 we've added the rally is over their long 484 00:20:17,480 --> 00:20:23,298 awaited bond pocalypse it's happening so 485 00:20:21,259 --> 00:20:25,129 what is real wealth is it in a paper 486 00:20:23,298 --> 00:20:26,690 currency again no that's just paper it's 487 00:20:25,130 --> 00:20:28,100 kindling it's something to write on 488 00:20:26,690 --> 00:20:31,159 something to wipe your backside with 489 00:20:28,099 --> 00:20:32,778 what does that paper get you goods and 490 00:20:31,159 --> 00:20:34,309 services what does a bank confiscate 491 00:20:32,778 --> 00:20:35,990 that they come after your paper no they 492 00:20:34,308 --> 00:20:38,000 come after your house they come after 493 00:20:35,990 --> 00:20:40,220 your cars they come after the actual 494 00:20:38,000 --> 00:20:41,929 goods and services that had the value to 495 00:20:40,220 --> 00:20:43,788 begin with and that's why everyone who's 496 00:20:41,929 --> 00:20:45,909 inside the beltway is so desperate to 497 00:20:43,788 --> 00:20:48,019 convince everyone it won't happen 498 00:20:45,909 --> 00:20:50,960 because there is no way to avoid it 499 00:20:48,019 --> 00:20:52,190 anymore the economy's gonna be ok keep 500 00:20:50,960 --> 00:20:53,840 them working because you don't want to29523

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