Alright, y'all, welcome back.
It's Anti-War Radio.
On the line is my friend Charles Goyette.
His website is charlesgoyette.com.
Imagine that.
His book is called The Dollar Meltdown.
Well, that was the last one.
The new one's coming out, I guess, sometime next spring.
Comes out in March.
In March, there you go.
And what's it called again?
It's called...
I want people to listen to this because it has an ambiguous title, intentionally so.
Red and Blue and Broke All Over.
That sounds like the USA you're describing there.
It does, and it should also bring to mind the Republican and the Democratic parties, the Red Party and the Blue Party, so not only is the entire country bankrupt, but the parties are philosophically and intellectually bankrupt as well as they have been for a long time.
And so the book is Red and Blue and Broke All Over, How to Restore America's Free Economy, and we're not going to have a restoration of prosperity in this country until we reject the policies of the Red and the Blue Parties and the American empire and the US dollar and so on and so forth.
So in other words, we're doomed.
Well, we're going to go through a really hard period.
I mean, you wouldn't wish it on your enemies, or at least I wouldn't wish it on my enemies, but even my friends are going to live through it.
Everybody's going to live through a very hard period.
But the truth is that the hard period is not the cause of itself.
This is what confuses people, and the people I talk to in the mainstream media all the time, they think that a difficult period, a hard period, an economic downturn, a severe economic calamity is somehow authored by itself instead of having a willingness to look back at the policies of the last couple of generations that created it.
I mean, the debt just didn't appear yesterday.
All of the things that we're going through now and the things we're prospectively going through here in the United States and around the world for the rest of that matter, didn't just happen yesterday.
Today is the tomorrow that all the Keynesian economists and all the government figures told us not to worry about.
Well, yeah, and that really is the portrayal, right?
This is just the page of history turning and the winds of time are blowing and things are just like this.
We had a good economy and then all of a sudden the bottom fell out of it.
Who knew?
I don't know, and so I guess we need to spend more money and hopefully we'll have a lot of consumers spending this Christmas, right?
Yeah, we have a crisis, a debt crisis, so let's borrow a lot more money.
I mean, these people are insane.
They're simply out of their minds.
Well, you know, I think Christmas is really the best example too, right?
Because if the Keynesians are right about the whole aggregate demand is all that matters, then really that means that if we spent all of our money buying little plastic C-3PO's made in China for each other instead of investing in the production of anything else useful to anyone, then that would be just fine under the Paul Krugman model, under basic, and not just the Paul Krugman model, under the Milton Friedman Chicago School model as well.
It'd be just as well that we all just buy action figures with all of our money as if we actually invested in doing anything productive, like feeding each other.
Scott, I have taken to using a new expression to try to describe some of this stuff.
The expression is this, that the big print giveth and the small print taketh away.
And the American people are focused on the big print.
And so last week we saw the standard poor average roar on up to it.
You know, the Dow was up 339 one day.
It was all on the headline news, the big print, right?
It was all on the headline news.
There was some sort of an agreement on the Greek debt.
Or even better still, there was American news that for the second quarter, the GDP was up 2.5%.
That's the big print, and that's what the geniuses in the media focus on, and they tell the American people about it.
So when the people pick up the paper in the morning, or they go on their news website, or they turn on TV at night, or they drive to work and listen to the radio, they hear the stories about the big print.
Oh, the European debt crisis has been solved.
Somebody or another is going to run to the rescue.
And here in the United States, GDP is way up.
And here's the small print.
The small print is that American savings fell in the quarter, and American disposable income fell as well.
Now how is it?
What happens when consumption grows, when consumer spending is up, and the big print says that's great, but household income is down?
What makes up the difference?
What fills the gap?
And this is the part of the conversation that the American people are not exposed to because the geniuses in the media do not talk about these things, or the geniuses in Washington, for that matter.
Well, and you know, it really is a matter of they just can't understand.
I saw recently someone was passing around on Facebook that old clip of Joe Scarborough introducing Ron Paul and saying, now you just sit there for a minute and let me read to you what you said back in 2003 about the housing bubble.
And, oh my God, I can't believe how smart you are.
How did you know?
And Ron Paul says, well, Austrian business cycle theory and giant housing bubble means a giant housing pop.
But what I'm really concerned about now, Joe Scarborough, is a dollar crisis and that the debt will be so big, the only way to pay it off will be through completely destroying the currency, and et cetera like that.
And Scarborough says, I just can't believe how smart you were back in 2003.
And he just can't get his head around the fact that your next question is, what do you mean dollar crisis?
What does that mean?
What's your next prediction?
Dr. Paul, please explain what the hell you're talking about.
No, he still has to go back to the last one.
He just can't get his head around it.
Yes, you have put your finger right on the pulse of the problem.
This is unbelievable.
This is a source of enormous frustration for me and anybody else that's concerned about these things.
Here are the people.
Here is the reigning orthodoxy.
It reminds me of that expression of Einstein's that no problem can be fixed by the same consciousness that created it.
So here is the reigning red and blue orthodoxy that marched us into this slew of despond, into this swamp of economic morass.
And what do we do?
We've lost our way.
We're in this thing.
We're on the verge of succumbing to the quicksand and the pythons.
We're in this swampland, and we don't know how to get out.
And what do we do?
Turn around and buy another map from the same people who marched us in?
And there were people on the outside that said, if you march into this slew, if you march into this swamp, here is what's going to happen to you.
And so once we're stuck in the middle of this mess, who do they turn to?
The same old people, the usual suspects, the Keynesians, the plastic politicians that got us into this mess for the life of me.
You are right to have identified that.
For me, this is probably the single most frustrating thing in the character or consciousness of the American people, that they would do this.
Do they think that nobody authored our problems, that our calamity of today, the new normal of fewer jobs, fewer opportunities, fewer promises of future security, fewer opportunities for your kids, the elimination of hope for a solvent and prosperous retirement, all those things of which the American dream consisted, all those things have been obliterated by this bunch in operation, so who do they turn to for advice?
Scott, I tell you, it just drives me nuts.
Well, and you know, that's the thing, too, is this book could have been called, although it wouldn't have been as good for the sales, but it could have been called Keynes, Friedman, and broke all over, right?
Because isn't it the case that the Chicago school of so-called capitalists are really just right socialists?
It was Keynes who said you can either have the government intervention on the side of demand, which he preferred, or on the side of supply, and all the Chicago school is is they're saying we agree with the right side of Keynes' model, which makes them, you know, not libertarians, not really capitalists at all.
I've gone to great pains in the new book to describe this, because I know people, when I say, you know, that these people of the red and the blue party and their academic economists and, you know, the figures in the media that talk knowingly, supposedly, about things economic and financial, you know, that when I say that they all worship at the same church and they all bow before the same priest, they go, that couldn't be because they argue with one another.
But you're right, and so I've gone to great pains in the new book to describe how, yes, there are, you know, there are disagreements between them, but they're always only disagreements on the margin of their opponent's favorite issue.
And, you know, the fundamental issue, in fact, I've described it this way, it's as though one party, one school, wants to throw younger virgins into the sacrificial volcano, and the other one says, no, no, not younger virgins, we have to throw in better-looking virgins instead.
But it's, you know, they all believe in volcano sacrifice and sacrificing to the great moloch of the state, and they all believe this.
And I cite John Kenneth Galbraith's son, who is an academic economist and a well-known Keynesian, and I cite him, you know, as an example, his Bet Noir, he hates the monetarists, and so people think, oh, there's some big disagreement with him.
But the big disagreement isn't about the existence of the Fed.
The big disagreement isn't about the nature of money and credit.
All right, wait, we've got to hold it right there, and that's a great place to hold it.
It's Charles Goyette, charlesgoyette.com.
The Dollar Meltdown is the book.
All right, y'all, welcome back to the show.
It's Antiwar Radio.
I'm Scott Horton.
I'm talking with Charles Goyette.
He's the author of The Dollar Meltdown.
It's big and yellow, and it has a melting dollar bill on the front, and you should read it.
I mean that.
And I don't usually do the call to action, because whatever, you're born relatively free.
Make your own decisions.
But this one, I'm bossing you around.
Go read this book.
It's really good.
All right, now, Charles Goyette, when we left off, we were talking about the phony difference, right?
The couple of fake opposites, just like the Republicans and the Democrats really represent a one-party state.
The Keynesians, the Democrats, in fact, here's the New York Times today.
As meeting approaches, Fed panel is divided on direction.
The conservatives think they've done enough.
The liberals want even more intervention than before.
This is the Keynesians and the Chicago school, which, to an Austrian like you, is what?
It's just a big fake nothing?
What's the big deal here?
Here it is.
Philip K. Dick, my favorite science fiction writer.
You know, he wrote all Blade Runner, Terminator, all those things.
Great line from Philip K. Dick.
In a one-party state, there's always a landslide.
You know, they're all members of the big government parties.
The left wing of the big government party, the right wing of the big government party.
It's all about the aggrandizement of the collective of the state over the individual, the suppression of the individual.
So all their policy.
You know, it drives me crazy to think that the American people believe there is such a big difference between the American people because one party wants to gift and favor one country with more foreign aid and another one with less.
And the other party says, no, no, we need to give more to these guys and maybe trim these guys a little bit.
I mean, it's just unbelievable.
You know, and it's always only at the very margin of what is the electoral advantage of the other party.
So, you're right, this is no debate at all, but I suppose that you have to watch this thing and see that the edifice of the two parties is crumbling.
I mean, maybe it's a self-liquidating problem, you know, with the collapse of the great central state that we're witnessing in slow motion now.
Whether the people wake up or not, there's something new that's going to have to replace this nonsense.
Okay, now, I don't really understand what it means for someone to be in debt $75 trillion.
I mean, that's more than light years across the universe or something, you know.
So, you know, I read this thing, they said that Bank of America moved $75 trillion worth of bad debts from one account to another, this one backed by the U.S. government.
The regulators were divided on it, but they went ahead and did it.
And I was just thinking, you know, I know Alan Greenspan didn't build up a bubble worth $75 trillion, and that's only part of it.
What in the hell is going on here?
How deep of a bottomless pit...
You know, all this talk about the monetary base expansion leading to hyperinflation, whatever, it seems like there's a giant bottomless pit of bad debts still to fill before the hyperinflation starts, or I just don't understand how this works, or what.
Yeah, there's a bottomless giant debt of...
And maybe mix into your answer a little bit about what's going on in Europe too, if you could.
Well, let me try to use this as an example, because if the current plan for the European Stabilization Fund that we hear about with Greek bondholders is that they take a 50% haircut, in other words, that the bonds that they hold are devalued by 50%.
If that is the case...
By the way, bring me back home to what we were talking about, Scott, but this is another...
You know, the big print, give us the small print, take it away.
This is another one.
Oh, that's great, you know, they're going to reduce the Greek debt, the load on them to serve as this debt is going to be reduced.
Well, who holds those bonds?
There ain't no such thing as a free lunch.
Who holds those bonds?
The Americans, it must be.
Well, you have Americans, you have Greek pension fund holders, people in Greece that have tried to plan for their retirement, so they get stiffed in the deal, so the consequences for their prosperity is reduced retirement.
That means in a socialist state, more state spending, more social spending, and so on, less state revenues and stuff, so it exacerbates the problem, but the headline is all people look at, you know, that, oh, yeah, you know, they worked out a deal on the bonds which was their cut for Greek bondholders, and so on.
It's madness.
All right, so here is the deal.
If you're a bondholder and you say, you know, in case of default, in case the people that owe me on this bond are supposed to pay me, you know, a million Greek drachmas or whatever they are, in case they default, I'm going to buy insurance.
I'm going to buy a financial instrument that insures this bond so that I get paid by somebody else.
They're willing to take the risk.
I want the return from, the high return from the Greek bond, but I'm going to pay a little extra to buy insurance.
Now, there is an institution that rates whether a default has occurred or not.
If a default has occurred, then those insurers have to kick in and pay the bondholders that bought insurance, right?
So this rating agency, this institution has decided that if they have all agreed to take a haircut, if all the bondholders have agreed to take a 50% markdown, then there is no default and those instruments don't kick in.
Now, all of those instruments that you're talking about represent, you know, when you're talking about trillions of dollars of unseen debt, that's part of it.
It's all these financial instruments that people bought in the hopes that it would, you know, it would cover their risk, it would hedge them against problems, and so on.
But if they are written off, if they are obliterated, if they are rendered inoperable if some institution says, no, they don't count today, then that debt's gone.
I mean, it just disappears.
The debt's been liquidated.
You know, the financial institutions, the AIGs of Greece or of Europe that were supposed to pay off in the event of a default, they don't have to pay.
Well, what happens to their liability?
Their liability disappears.
Their debt has disappeared.
It's just like when, you know, when a financial institution or a country defaults.
You know, somebody ends up eating it, but the liability on their books disappears.
And then, so, you're saying, but we all just pay through inflation because the central banks are buying up the stuff, or they're not?
They're just writing it off.
The stuff's just disappearing.
Why didn't they do that to all of it then?
Why are they printing money to buy up any of this stuff?
I guess it depends on who has the juice and who does not.
I mean, it may be that, you know, there's a plan for some of it to be written down, another of it not to be written down.
People that are looking at it going to zero to worthlessness are quite happy to think that they might get, you know, paid 50% on it.
What the mainstream, the consensus view is that, you know, they've got to ride to the rescue and at least come up with 50 cents on the dollar or half a drachma on the drachma for the Greek debt.
Because if they don't, you know, that this thing will spread like contagion, like the domino theory to Italy, Spain, Portugal, and so on and so forth.
The truth is that they're all independent of one another.
It's going to spread to them anyway.
In fact, it doesn't spread.
It's internal to each one of those countries.
It's internal to each one of those countries and their own internal debt structure.
Italy has something like $2 trillion in euro debt.
They've got $200 billion of it due in the next year that they don't have the money to pay.
It doesn't matter whether Greece is rescued by an act of the American taxpayers hidden through the International Monetary Fund or by some other device.
This doesn't reliquify Italy.
It doesn't solve the problem in Italy or in Spain or in Portugal.
Well, it's really kind of the same thing as the NATO countries paying for 94%, or actually being the source of 94% of the gross domestic product of Afghanistan, 100% of the cost of the operation of the government, the police, and the various militias and whoever working for the government over there.
It's really the same kind of thing, right?
Where over generations in the West, in the United States and Western Europe too, just like the wars, they print the money to pay for the war so it seems free for a while.
They've built up these massive states, regulatory and welfare states at home, on budgets of money printed out of nothing and borrowed from the Koreans and whatever.
But the problem is now that the Day of Reckoning is coming due, everybody's blaming what they call capitalism because of course the people who call themselves capitalists are the ones who've got us all into this mess.
And so now, it looks like people are embracing Marxism again.
It's like when the man gets yelled at by his wife and he turns around and kicks the dog.
What does the dog do?
But you're right.
Capitalism gets blamed for all of the sins of the socialists and the commies and the fascists and the crony capitalists and the Marxists.
And capitalism always gets blamed for it.
And there's no capitalism about it.
I saw something the other day where somebody said, there's capitalists like Alan Greenspan that did this, that, and the other.
And I'm thinking, wait, I don't see any capitalists around there.
Yeah, I thought he was a government employee that whole time.
Michael Moore, as always, is the perfect example of this because I saw an interview of him on that interview show on CNN International where the guy asked him, yeah, but you're a capitalist.
You make these movies.
You make the money off it and whatever.
And he's without words.
He doesn't know what to say.
He's trying to distinguish somehow between the American system and what he is when the reality is somebody smacks him and tell him you ought to be a libertarian.
You're for real capitalism like you.
You're a businessman, documentary filmmaker, salesman, right, who sells his films to people for a price.
That's fine.
What's not fine is buying a congressman to steal trillions of dollars for you.
Yeah, and what people don't understand is that the investment banks have no power.
They have no authority.
They have no way to dip into your wallet without the help of the congressman.
They can't do it.
Go to the congressman and tell him you ought to be a libertarian.
You're for real capitalism like you.
They can't do it.
Goldman Sachs is irrelevant in my life unless the congress votes to give them 13 billion dollars.
That's the only way they become relevant.
I mean, they have no power over me.
If they climb in through my bathroom window in the middle of the night to see if there's any coins on my dresser, they get shot.
They have no power, no authority over me.
You know what?
I want to talk more about economics with you.
If I can, can you hang on one more segment for us?
Sure, of course.
Thanks very much.
Charles Goyette, everybody.
The dollar meltdown.
This is the name of the book.
It's for sale at your local book selling website right now.
All right, y'all.
Welcome back.
It's anti-war radio.
I'm Scott Horton and I'm on the line with Charles Goyette, author of The Dollar Meltdown.
And coming out next spring, Red and Blue and Broke All Over.
His website is charlesgoyette.com and amazon.com.
All right.
Now, I got so much to ask you and only ten minutes to ask you about it all but it seems like none of this makes any sense to talk about without focusing on the fact of the warfare economy and especially the expansion of the empire over the last ten years, Charles.
But it occurs to me that when they're always like, say, for example, the 1990s when the Soviet Union fell apart, people started saying, well, where's our peace dividend and all that.
Right.
But then they kept expanding NATO and they kept expanding the empire overseas.
They kept bombing Iraq from their bases in Saudi Arabia and doing whatever they do and acting like the indispensable nation and all that like Madeleine Albright said.
And the way that they got away with it, right, was the giant inflationary bubble.
Even now, these Democrats with a straight face will talk about the 1990s as the longest peacetime expansion, this and that, as though we don't all remember the bubble popping and the terrible recession that came that then they only countered by inflating up another bubble in housing.
And anyway, my point being that over just the last 20 years, you could go back to Nixon if you want or whatever, but they've basically built up this bubble of artificial prosperity where the only thing we're manufacturing anymore is weapons of mass destruction for the people overseas, you know, the victims of the empire on the other side of the oceans and things like that.
Meanwhile, anything else we ever used to make, all of that industrial capacity has all been shipped off overseas and the pain was sort of disguised and delayed by the giant bubble.
Now we're falling even farther because we have less real productive infrastructure to fall back on with the collapse of the housing market.
It's what Chalmers Johnson called and I call and others call now military Keynesianism.
You know, the idea of Keynesians is that, you know, we can spend our way to prosperity.
Military Keynesian take on it is that we can spend our way to prosperity if we spend on defense and armaments and warfare and occupying countries and international excursions and so on and so forth.
And of course, it doesn't prove to be true.
I mean, it doesn't create any real wealth that makes people's lives better.
So we have been down this road of military Keynesianism in this country really all my life.
I mean, virtually since the end of World War II, they started cranking it back up.
You know, the war was over and where was that peace dividend?
It was by virtue of the Americans coming home and immediately, you know, the big footprint in Congress was the military industrial complex that even Eisenhower knew it.
So that's where we are.
Yeah, we're in, you know, we're in, we are military Keynesians and there's no doubt that as we spend close to what the rest of the world combined spends on warfare, as we spend close to that, it should not be a surprise that the United States government borrowed like in 2010 virtually what the rest of the world borrowed.
Altogether, what the rest of the world borrowed, we borrowed as much.
So, you know, we just keep digging ourselves in deeper and deeper and deeper into debt and at some point it has to blow up and it's, you know, it's kind of a kabuki dance of destruction.
You know, here's what happens.
I mean, it is true and this is another one of the great secrets from the American people that they need to wake up and learn.
It is the Federal Reserve that has made the costs of the war instead of overt taxation, instead of seeing it when you buy something, instead of seeing it taken out of your paycheck, it's all taken from you by stealth to fund these wars and it's been done ever since the Fed was created in 1913 and it was done to obscure the cost of World War I.
Would the American people have paid overtly, directly, for World War I when nobody really understood what the historians today knew what that was all about and who was fighting who for what?
Well, and there's no mistake either.
Go back and read the history.
It was the war party that created the Fed.
In those days, the Morgan Bank.
They were the guys behind the Wilson administration, Edward Mandel House and all the guys that lied us into war.
And they will collapse each in one another's arms.
The monetary system and the empire will collapse together.
The imperialists will say it's the failing of the U.S. dollar and the dollar reserve standard.
It's the imperialists and the warfare, but it's both of them.
It's a kabuki dance.
They can't do the locked-in-arms two-step without one another.
It's the dance of death that they've both created.
Speaking of dances, I guess to extend the metaphor, it's sort of like the dance of Shiva.
You know that the old world has to be danced into destruction before a new world can arise, and that's what we're looking at.
The monetary system and the empire have to dissolve, have to collapse, so that Americans have a chance of restoring some prosperity in this country.
Well, you know, you referred last time on the show to the American dollar as seeking shelter at the local Marriott from the storm, but you can't stay, and I guess part of that, the storm, is the collapse of the euro, and it is the case, right, that the Chinese currency and all the other currencies in the world, even, I guess, probably the Russian one and everything, are all involved in the collapse of the euro, are all inflationary currencies, and if the euro is this week, maybe that's good for the dollar for the short run anyway.
Well, that's why you and I are friends, Scott.
And is the euro, actually, what is the future of the euro while you're at it?
Tell me about me and our friendship first.
Well, I mean, you know, you understand exactly where to point the binoculars to look and find the problem, and you're exactly right.
The European Central Bank is made out to be the buyer of Last Resort.
It expands its balance sheet to buy this bad European debt the same way that the Federal Reserve is pretended to be the buyer of Last Resort and buys all these broken financial instruments from the money-sending center banks that are its progenitors or creators.
And so, but the result of all of this, here's the consequence.
The consequence in Europe and the consequence in the United States is destruction of the currencies, the euro and the dollar and their purchasing power.
And who is the long-term beneficiary I mean, if inflation, if destruction of purchasing power drives people over time away from the dollar and away from the euro, where do they go?
It's not a coincidence that the Japanese yen is soaring today.
It's not a new high against the dollar.
That's not a coincidence that people are, you know, people in advance, people understand what's going on and see the money printing.
You know, these people are, I mean, the European Central Bank has expanded its balance sheet just in the last quarter by $341 billion just in the last quarter.
So, you know, people that are attuned to this stuff are fleeing and the long-term result is the destruction of both currencies, the euro and the dollar.
And that's, you know, that's where we are.
The problem is nobody can tell you how fast it goes because it, you know, it speeds up and then it pulls back and it speeds up and it pulls back and so on.
But the trajectory is clear.
We know where it ends.
Well, and back to the thing about, you know, freedom getting a bad rap for this.
I remember reading an article not long ago about the Eastern Europeans, not just Russians but Eastern Europeans who used to be dominated by this foreign Russian Soviet empire are yearning for the days of the Soviet Union where they had peace and prosperity and stability compared to where they are now.
And it's, you know, Adam Smith ends up catching the blame for all of this.
And so I wonder if that means that we're headed toward an era of totalitarianism here.
Well, it's very, very likely and so it puts pressure on, you know, people like you and me and people like your listeners.
It puts pressure on all of us now.
At this juncture it's very critical that we try to awaken people.
We try to awaken them as we have for years, Scott, about the American empire and the cost of the empire and the real objectives of the empire and the people that have been driving the empire and the consequences, the impact that the empire has on people that are victimized by it around the world.
It's imperative that we wake people up to the linkage between the monetary authorities and the empire.
It's imperative that we wake people up because here's what happens.
You know, it is true that, you know, out of the rubble, you know, there are different ways we can go and we could go into a totalitarian and authoritarian system.
There's no question.
And the only thing that will preclude us from doing that is if a sufficient doesn't have to be a majority, but if just there are sufficient numbers of champions of freedom that understand this stuff, that understand that it doesn't have any, none of these problems were authored by the free economy.
The free economy has been tied, gagged, and bound and thrown in the trunk of the car all of these years by Republicans and Democrats.
The people are confused about this and they need to be awakened.
Nobody in their right mind thinks that Obama is a champion of capitalism or the free economy, but in these benighted circles in which the American political debate takes place, people think George Bush is.
Well, George Bush's administration started with favors for the steel industry and it ended with bank bailouts.
So the American people need to be awakened and understand that none of this has been authored by the free economy which has been, as I say, bound, gagged, and locked up in the trunk all these years.
Yeah, well, you're absolutely right about that.
It's so frustrating.
We've talked about this before and I think you talk about social unrest a bit in your new book, but I saw this thing the other day where these neo-Nazis showed up at, I think it was in Phoenix at the Occupy Wall Street thing and it's just so easy for people who are frustrated to turn to hate.
I mean, I'm a sterling example of this, but it seems like, you know, like you say, kind of riffing off of that, it's so important that if people are that frustrated and that angry that they really do focus on Wall Street and don't let some clansmen try to convince them that the problem is the Mexicans.
The problem is gay people getting married.
The problem is people are allowed to build mosques in America and worship them and the rest of these horrible red herrings that pit the American people against each other.
Because, after all, what can we do against a bunch of bankers?
But we can persecute some Mexicans.
That's easy.
You know, they're within reach.
You're right.
This is wedge-issue politics and this is how they keep this is how they keep the people distracted from the real issues of the Federal Reserve, the monetary system, the marching empire, Keynesianism, wealth transfers.
It's how all of this is hidden from the American people by wedge issues and the people are, you know, are mesmerized by these shallow things.
It reminds me of the comedian Louis Black who said, you remember back when they had the big brouhaha about which campaign, which candidates were wearing American flag lapel pins and Louis Black says, you know, if you can't, you know, if you can't spell out your philosophical position on a piece of jewelry you've got me, he says, if it takes more than two cuff links to spell out your position you've left me behind.
Right.
Well, boy has he proven that with, all he had to do was sit back and look at this Herman Cain thing where he comes out with this 999 thing where all the analysts say immediately this means a raise in taxes for the bottom 85% and a cut for everybody above that and everybody goes, oh, you're with the digit 9 and he's got three of them and they rhyme together and I like it, I'm sold.
And he's now the front runner, Charles.
Well, it shows, it shows the, the propensity of American people to want to be ruled because he keeps saying that, you know, he doesn't know what any of the answers are but it needs, he needs a stronger, more competent, bigger, tougher, better leadership.
It's like the American people need the daddy and I'm here to talk tough and I'm going to be the daddy and I'm going to go out and cheer.
I spoke at the Freedom Fest this summer and I watched this and I watched a third of the people stand and give him a standing ovation and all he was talking about was further centralizing their lives and creating the centralized state decision maker.
We don't know what to do.
We don't, we're going to get better, it's not like Rossport, we're going to get better experts in here, we're going to get better decision making because they don't, people don't know what the problem is and we're going to figure out what the problem is but just turn your lives over to him and he'll make the decisions for you.
And a third of the people at the Freedom Fest stood up and cheered.
Boy, believe me, was that a cold slap in the face for me.
I'll tell you though, anybody who wants to get a closer look at Herman Cain, there was a wonderful moment when he was on John Stossel's show when they talked about abortion.
Just, just, doesn't matter what you think of abortion, doesn't matter what your position is, just go watch how confused this man is how he can say mutually contradictory things without taking a breath.
I mean, it's simply astonishing and nobody calls him out on this stuff.
Well, and it's just perfect for our age.
I mean, it's the perfect double think and he's the victim of it and the perpetrator just like in Orwell, you know?
Yeah.
It really is that easy.
All right, well, we're all out of time.
Thank you so much for staying overtime with us, Charles.
Really appreciate it.
Great to talk to you, Scott, anytime, bud.
That's the great thing about the book and the new one coming out and read it, please.
It's so good and the new one is Red and Blue and Broke all over.
Be right back after this.
