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The Two Mikes were happy to get a short update with our sponsor Ira “the mench from the bench” https://ourgoldguy.com on the current state of the U.S. economy. Ira said it was very clear that inflation is now far past the stage where it can be controlled easily. The Federal Reserve, in other words, waited more than a year too long simply to serve its political masters, not the people. We also discussed the increasing number of Americans who recognize that with more than $30 trillion in debt, the long-time Fed answer of printing more money is lethal to the economy. Ira also noted that Americans have entered an era in which they clearly recognize that their federal government is either completely incompetent or that its leaders are sociopaths who are deliberately destroying the republic. Americans are coming to accept that the general government is their enemy, but it’s not yet clear how to stop the accelerating economic destruction. A first step may be to put some portion of savings into precious metals — gold and silver — not as a hedge against inflation, but as a safe harbor that is under the individual’s control, not under that of a cruel and depraved government. Ira also said he talks to some would-be purchasers’ who ask “What if the federal government began to confiscate gold as it did in 1933?” Ira responds that while that is a possibility, it is now unlikely. An added consideration is that in 1933 Americans were in the fourth year of the Great Depression and were desperate for help. We are not yet at the point those people stood in 1933, but we are on the way. The advantages we have are three-fold: (a) we know the U.S. government is the enemy not the helper; (b) we are much better armed than folks were in 1933, and (c) we all own shovels and know what they can be used for.
