[00:00:04] Broadcasting live from atop the Rocky Mountains, the crossroads of the West. You are listening to the Liberty Roundtable Radio Talk Show. The Honest Money Report starts now. You got the Honeyman, localhoneyman.com, Kirk Crosby with me. You've got the Moneyman, Heath Perkins, with us over the last 50 years.
[00:00:33] Him and all of his partners and the Rust family have been helping people understand and get involved in precious metals. Freewatercoinco.com, that's the Moneyman, and I hope I'm the Funnyman to some degree. Welcome to the show. Hope you're all doing absolutely fantastic. Heath, welcome, sir, and what's gold and silver looking like? Thank you for having me, Sam. Gold's sitting at $4,030.10, and silver's sitting at $52.64.
[00:01:03] All right, so it's $4,030 and how many cents? $0.10. And $0.10, and then silver again? $52.64. $52.64. Kurt, what do you think of that? You're getting rich, aren't you, buddy? Oh, yeah. Yeah, the American dream coming through.
[00:01:25] You know, but at least it's one place where you can highlight the fact that, well, honest money is still available. We just have to seek it out. There you have it. So they left interest rates alone, Heath. Do you want to kind of break down your thoughts on that? Before the midterms elections, I'm not surprised.
[00:01:52] Enough pressure can be put on one way or another to where them increasing interest rates would have gotten very horrible for the party that's in right now, as well as for a lot of society trying to continue moving forward. Lowering interest rates would have been beneficial to them. Staying neutral kind of was just the middle ground. So that's an honest take on this one.
[00:02:20] I don't think we're seeing less inflation, but, yeah, that's where we're sitting. And the issue for me on this, Heath, is this. You know, on one hand, I'm glad they're leaving interest rates the same. They're not raising them. On the other hand, whether they raise them, whether they lower them, or whether they maintain them to be the same. The problem is every action, or in this case, even a non-action, literally manipulates the supply and demand free market. That's my issue. I agree.
[00:02:50] The struggle comes down to not having a free market to offer loans based upon, here is a number that the Federal Reserve sets, not just for the U.S., but it seems like it's looked at by the rest of the world as, you know, where their interest rates should also be or how they should move up or down based upon inflation.
[00:03:13] So it's a very key institution when it comes to altering the financial future for most nations. But, yeah, not having a fair market is difficult. You know, not allowing things like, you know, the banks got rid of the ability for credit unions to actually pay their members out in dividends. And instead, they just have to expand and expand and expand.
[00:03:44] Because that would have put a kind of the final nail in the coffin for banks. Because no one would deal with a bank if everyone was being paid dividends for the bank or for the credit union using their funds. And so that was stopped back in the 80s. There's been a lot of things that have been put in place that don't allow the free market to flow, whether that's regulations or institutions like central banks that step in and kind of hijack a financial system from a nation,
[00:04:13] wrestle it away from the nation. Kurt, according to the report, annual consumer inflation reached 3.7 percent. Wholesale prices rose 6.3 percent. Employers added only 29,000 jobs in September. And, of course, that often has to be revised. Anyway, this is right before the midterms. What do you think of that?
[00:04:41] Well, so many times when I give you these numbers, I always just wonder, well, who's doing the – who's figuring it out? You know, who's coming up with those numbers? And, you know – Kurt, you need to be jailed as a questioning dissident for that. Yeah, that's – of course. But, I mean, it's amazing to me, at least one of the key things that I like to hear about this administration
[00:05:07] is that so many jobs have been, you could say, lost but eliminated from the federal government and moved into the private sector, you know, where you've got so much more of this – I mean, when you lower those taxes and encourage Americans to basically do more investment of their own money or whatever,
[00:05:35] you know, then you have all this construction and all these different things happening. But, you know, the only one that really touts most of that is going to be President Trump and his administration. The other side's going to just really be quiet about that. Yeah, in the past they got caught building bridges to nowhere and stuff like that, right? Good point. Yep. That really is a good way to spend some money, Heath. Just build bridges to nowhere, sir. Oh, yeah. Yeah.
[00:06:04] Between that and – The train to nowhere. The train to nowhere. The fastest way of racking up debt is just going to war. So, yeah, we're spending faster than we can actually collect it in taxes. Yeah, writers just reported that, hey, we're spending 47-plus billion on the war already and we haven't seen an end in sight.
[00:06:34] They say that the U.S. economy grew at a 3.4% annual rate in the third quarter. And the Commerce Department reported that it accelerated from 2.2% in the second quarter. So it's getting better, they want you to know. But I kind of wonder, though, how do they determine that? You know, if everybody spends more money and gets into credit card debt, is the economy growing? One, see, to me it's a little bit deceptive in that sense. I don't know what the economy growing means.
[00:07:04] To me, real economic prosperity is when people are getting out of debt but they're still prospering. When people can manage all their bills without going on credit cards or student loans or big massive housing loans at high interest rates and everything else or borrowing to buy cars. You know, hey, the debt-free status of, you know, individuals in the free market seems to me like one of the best gauges. But that's not really in their numbers, is it, Heath? No, not at all. But shouldn't it be if we're going to talk about real honest prosperity?
[00:07:34] Well, that would shift our entire form of economics in the U.S. from Keynesian to an Austrian-style economics. Yeah. Yeah, that would be fun. I'm all for that. You know, a society that's based around the savings of its citizens versus based around how much the government can step in and spend if there's a lag in the GDP. So the struggle we have is you have four things that register GDP,
[00:08:04] consumerism, investors, net import-exports, and government spending. These things that give you that number for GDP, the struggle is with Keynesian, is if investors shy out of the market or consumers decrease their consumption, we really can't do much about net import-exports, the way we have things. It's a very slow go if we do try to ramp into exporting more.
[00:08:31] So that one's not really a big changeable variable, but the big one that can change is the government can step in and spend when the investors are gone and when the consumer's gone. So it's like the idea that we have growth, we'll go look at the numbers. Was it because the government spent more? Or was it because investors actually invested more? Or was it because consumers are consuming more? And is that being put on cards like you were saying, Sam? Is it actual true consumption with wealth?
[00:09:01] Or is that true consumption with debt? The same thing is true in radio and TV. Everybody wants you to see super numbers of people that follow you or listen to you or watch you or read you or whatever. But I kind of go back and say, I'd rather have a smaller, absolutely loyal audience than I would to have a massive audience that would turn away from me in a heartbeat or not care. And so to me, it's not only the size of the audience, but the loyalty. If I have an audience that when I say buy something
[00:09:29] and it helps the show and helps whatever partner we have and they do it, that's incredible. If I have a million people that do that, that's a real number. If I have 50 million people that watch the show, but none of them will buy because they're not very loyal to me, they don't care, that to me is a smaller audience, believe it or not. And I know that sounds crazy, but inflation remains above its level than when Trump returned to office. So he came into office, the inflation rate was a certain number, and now it's higher according to an Associated Press report.
[00:09:59] 3.7% now, 3% when Trump took office the second time. And the report documented household costs, voter concerns about fuel, groceries, etc. I think they're justified concerns. Heath? Yeah. You can't stop inflation when you've increased fuel costs across the board.
[00:10:26] Diesel's still over 670 last night when I was driving home. That's a lot of money, buddy. What's that? That's a lot of money, buddy. Yeah. Just a little over a dime, I guess. That'd be a gallon. A real money, I ask. That $6.70 is for the general consumption, where if you go to truck stops, it's closer to about $7 here in Utah. Wow.
[00:10:55] They get an extra charge on theirs because they have rapid fueling systems to where they can fill two 100-gallon tanks on each side in a matter of 10, 15 minutes and be done. And so they charge extra for those facilities. But that gets transferred into every single thing that gets shipped in this society. And you can't stop the cost of everything going up unless you can decrease the energy that's being used,
[00:11:23] the cost of the energy being used, to move everything around in this nation. You've got to decrease demand, and then there'll be more supply. That's one way to do it, right? Yeah. One of the things that, you know, you guys have mentioned the AP and Reuters in the last couple of things. Now, you know, if I were to ask you both, would they be on the president's side or pro-White House, or would they be against the president? Right.
[00:11:52] So I'm going to give you... They have a 90-plus... Hold on. They have a 90-plus percent record of being against Trump since he walked down the elevators in 2015, Kurt. Right. And so I'm going to give you, right from the White House's website, you know, they send me an email, and it says, for example, the weekend review, 17 straight months of zero illegal aliens released at the border. $475 billion, it says, potential 10-year cost of mass amnesty, which is what, you know, the Democrats want to promote.
[00:12:22] Yeah, this is huge. It's a different topic, but it's huge. Right. $49 trillion, they say, is the estimated cost of socialism over 10 years, which is what, you know, the other side's offering. Then they've got $2 billion, which is the new investment for this week. Now, the other thing that was highlighted in some of these rallies down in, you know, for example, Corpus Christi, Texas... Which, by the way, is down there where all the oil rigs are and everything else for the United States. Exactly.
[00:12:52] Yeah, and which to me is kind of appropriate for this conversation. You've got huge amounts of oil coming from Venezuela and other places, and I believe, you know, there is a very real chance that, like the President says, that those oil costs and those fuel costs will keep dropping like a rock simply because most of these things are getting squared away.
[00:13:21] But I do understand that, you know, hey, there's higher numbers right now, but I also would suggest one of the key things that is not brought up by the AP or Reuters is this massive investment that's going on in America by, you know, people all around the world as well as people here in America, you know, in our own economy. I know that for sure, and those are things that we should highlight.
[00:13:50] It's also important to know this, and you've got to really ask honest questions, and I think Kurt's right about a lot of this. The question becomes, it sounds like gas is really high, but if you compare gas to a lot of other drinks that you drink yourself, gas isn't as high as it seems like. Listen to this. You buy a gallon of gas for what, $5.50, Kurt, or something? Yep. Well, I mean, I bought some lately for $4.30 coming home from St. George, you know, at a real low place. you know, it depends on, but what I'm saying though
[00:14:19] is think about this. When you buy a Starbucks coffee, you get what, a 16-ounce cup or 24-ounce cup or something, and that dude's like $7. Yeah, I don't know. Not to put that to gas, or you buy juice, for example, or whatever, real juice or whatever. You put it together, it's like, hey man, it's like $20 a gallon. Now, I'm not downing juice or coffee as much as I'm trying to get a perspective. The question becomes, has gas prices been artificially low? Has the interest rates been artificially low? And now they're coming back a little bit more to the reality of supply and demand.
[00:14:49] And so it sounds high, but when you think about it, it's really not. As you mentioned, you can still use a dime and get a gallon of gas. So is that really that crazy? Heath, I think there's something to that too to be discovered. Yeah, no, definitely. The overall though is like, why do we have higher inflation? Well, when you have higher costs that go to transporting things, you're going to have higher inflation. It's just a numbers game at this point. If we've been keeping our products down low, so like you guys remember
[00:15:19] back in the 80s, there was like, interest rates were in the teens, if not the low 20s. So you had insane interest rates before. These 6-7% are kind of reasonable interest rates if you look from the 80s into, you know, 2010. And if we left it completely to supply and demand, where do you think the interest rate would sit? I think enough people would be kind of shy with their money and choose better individuals to,
[00:15:48] so larger down payments would be required. You would have, you would definitely have to have more up front in order to do that. And I'm convinced that interest rates would be somewhere between 6, 7, 8, 9%, around 7.5% I think is pretty much the average over the last many, many, many years. And I don't think interest is the biggest problem people think that it is. What I think is under the low interest rates,
[00:16:17] home prices have gone skyrocketing since 2020, people's houses have doubled and everything else. And so, now there's not enough housing on the market because of all kinds of regulations. It's hard to build and everything else is expensive. But at the end of the day, the reason I'm bringing this up is we don't really need interest rates to drop as much as we need home prices to come down to reality. Don't think the interest rate from 3 to 6 is that big of a deal or 7 or 8 even. Think that the house used to be $200,000 and now it's $500,000. That's the big difference
[00:16:47] we need to see. And I think what needs to happen is people to drop a lot of the prices on that if you want real supply and demand to take place. And then what people need to do is start building more homes and the only way to decrease costs on a lot of that is decrease costs on property. In Utah and other places when the government owns like 75% of the land, it's pretty hard to have reasonable property prices, right? So we can just go on and on with these discussions, right, Heath? Correct. Yeah. No, it's a... There's so many facets to these numbers that it's hard
[00:17:17] to get the big picture. We have to look at the... In the moment, you know, what's causing this and that's... It's not realistic because there are a lot of factors that go into all these things. One question I was going to ask you. I've heard some... Like this guy's name is Jim Rickards and he brings up this idea that he says when it comes to interest, you've got to look at interest and the... What's that thing?
[00:17:47] Your inflation rate. For example, you've got to put them both together because, for example, let's say you've got a 10% interest but you've got an 8% inflation. Then your real cost is what? 2%? You know, the difference between them? So, of borrowing, let's say, you know, does that make any sense to you, Heath? Yeah. So, inflation can help you pay off loans that you have but inflation
[00:18:17] across the board is just a... If we understand what truly inflation is, inflation is a tax and a tax is going to be paid regardless whether that's... Unless we get rid of inflation which is going back to sound money. Right. So, you do pay loans off with inflation because generally you'll earn more but the wages haven't been keeping pace with the amount of inflation that we're seeing. So, inflation, it would help
[00:18:46] pay back a loan if you had wages increase equivalent to inflation. But when you don't have wages increasing equivalent to inflation, inflation will erode that purchasing power that you had because you're not gaining back what you're losing. You're just continually being on the negative side of lessening your earning or your purchasing power over time because you're not getting the wages increased as fast as inflation is going.
[00:19:16] So, it's both. It does help pay the loan off but at the same time no one's wages are increasing that fast either. And like you say the real solution is honest money. The best answer is to return to supply and demand and honest money. That's right. So, Tom Fitton's in the news, Kurt. This is interesting. Well, yeah. Judicial Watch we've been watching them... I don't know if I should say watching Judicial Watch but we've been aware of Judicial Watch for so many years and Tom Fitton basically says
[00:19:45] hey, they found more data that shows our own CIA our own I probably put that in quotes have been basically spying on President Trump and his administration basically working against it for ever since he first got in you know and Tom Fitton pretty... You've got the CIA and the mainstream press against the president. Good point. You know, I mean just imagine an America with well
[00:20:15] an honest money system and honest bureaucrats. Wow. Now Tom Fitton basically says we need to get to the bottom of this and we need to have prosecutions, right? Well, yeah. So much of that should be happening but you know and you've got whether it's Georgia and they're voting and you know things like that so much needs to be done in America but all I can say is I mean right now the big question in a few days you've got to answer
[00:20:45] and that is hey which side do you move to? Do you move to the Democrat Socialists of America or do you continue with President Trump and his crew? And all I can say is that's a pretty simple question to answer for me. And what I do is I say the party's over and I eject party and I look at people and I look at individuals and what they're accomplishing and I support individuals and I can point to a lot of good Trump's done and I can point to Congress and say they haven't backed the President so what I would do is vote in people that would back President Trump
[00:21:14] and let's see what we get done with real support. That's what I think, Kurt. Yeah, and eliminate the bad guys like Judicial Watch is talking about well yeah CIA, FBI you know the bad guys in those different things they're good guys and they're bad guys you just got to find out which ones they are. And ladies and gentlemen let's be very clear you know we want to just tell the truth and stand by principle and that's why this is called the Honest Money Report because we really want to let you
[00:21:43] kind of know what's going on and it's a tougher environment out there with AI to the helm changing jobs and structure what you want to do is balance your portfolio and invest in constitutional currency and real value of gold and silver. Heath what's available now that people ought to know about? Anything special? With the prices that have dropped everything's pretty much on sale. but we're still still have a lot of 90% which is your the term that's coming up recently
[00:22:13] is more your constitutional silver in the past they used to nickname it junk silver because you used to find it in your junk drawer it's not that it's junk it's just the nickname but it's probably your best buy right now there's there's a good amount of that out there but any of the shops can pick up pretty much anything for you that that you need so you know just go to your shop ask the questions you need to ask get informed about what
[00:22:42] sound money is if you don't have that education yet it's something that I would highly recommend you getting understand that they can't print more silver they can't print more gold and because of that there's a limit to the amount being brought out of the ground and due to that the cost of these items these commodities will always keep value over time
[00:23:11] and you will preserve your wealth through that a lot of financial advisors you know they look at this being something that they would recommend between 10 and 20% of your portfolio if you feel like the dollar and other things around paper contracts and stuff aren't as sure because if they those default you still have something left that can get you through those hard times and that's where sound money comes in and our dear friend Brian
[00:23:41] who hopefully will kind of start joining us every other week on this too Kurt's going to go down and visit him and talk to him about that pretty soon but then we can kind of get more perspectives on this and it's really important to understand folks you just need a little bit of food a little bit of beans bullets and band-aids a little bit of everything a little bit of constitutional currency and if you steadily work at it a little bit over time you'll look at it and go wow I got a little bit here and pretty soon you're in stable positions for your family Heath Perkins FreeWaterCoinCo.com
[00:24:10] thank you so much sir thank you we'll see you guys Kurt Cosby the Honeyman thank you so much my friend LocalHoneyman.com thank you you're welcome Sam thank you Sam Bushman ladies and gentlemen hard hitting news the network refused to use always we're everywhere spread the word Rumble X YouTube Truth Social LibertyRoundtable.com LibertyNewsRadio.com spread the word share the love and God save our constitutional republic
[00:24:38] it's worth it when you try