[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.
[00:00:19] All right, ladies and gentlemen, we're to the Honest Money section of Liberty Roundtable Live. That means we talk straight about the economy. We talk about constitutional currency and more. To do that job with us, well-known Heath Perkins, ladies and gentlemen. He's been working to educate customers about precious metals for a long time, along with the Rust family. Freewatercoinco.com. Welcome back, sir. Honest Money Report time. Where's gold and silver sitting?
[00:00:49] Good to be back, Sam. Gold is sitting at $4,495.90. And silver is sitting at $67.81. $67.81 to buy a dollar. What do you think of that, Eldon? Well, it's a lot better to have a silver dollar than a paper dollar, isn't it? Yes. Yes, indeed.
[00:01:17] Yeah, because if you have a silver dollar, you can get 67 paper dollars with that dude. And the U.S. national debt, Heath Perkins just topped $40 trillion this week. By the way, that's up from $30 trillion. Do you know how long ago? Let me put this in perspective. Do you know how long ago it was at $30 trillion? My guess is three years ago.
[00:01:46] Oh, you're so close. Four and a half years. Four and a half. February 2022, it was $30 trillion. And now it's $40 trillion in four and a half years. Roughly $10 trillion increase in four and a half years. And the question that that brings up to me is what's it going to look like in four more years? Will we hit $50 trillion? Or will it start to go up even faster? Remember, this is like a snowball, right, Heath?
[00:02:14] Yeah. Well, if you look at Bush, George W. Bush, he took over from Clinton and he doubled it from $5 trillion to $10 trillion at the end of his eight years. So we've done more, we've done twice as much as he did in these last four years than he did in his whole eight years.
[00:02:38] You know, we matched in the last four years what Obama did in his eight years. He went from $10 to $20 trillion. So in Trump's first term, he went from $20 to $27. It's growing faster. It's not slowing down by any means. No one is taking this seriously. And this is what's going to sink the nation.
[00:03:00] And we're going to have a lot of rules that we don't want in place because we haven't had anyone fiscally responsible to actually turn the tide on our debt. So it's a struggle.
[00:03:12] Now listen to these numbers to kind of make sense out of this a little bit for people. Social Security, Medicare, and interest payments account for the bulk of it with interest running $1.2 trillion this year alone. Think about that. Interest running $1.2 trillion alone this year.
[00:03:39] And so that's really the cause as far as I can tell. Social Security, Medicare, and interest payments. However, those who want to attack President Trump and singularly blame him for it, I say it's been the last cast of presidents from both sides of the aisle for quite some time. But if you want to blame just the Donald for it, here's what they say. Some say it's driven by escalating military expenditures to Iran, substantial tax reductions, and tariff refunds.
[00:04:06] And that's the way you can kind of blame it on the Donald there. I think that's a dishonest measure. Now, I do think those things matter. But the interest rate $1.2 trillion alone, that's just the interest. And then you take Medicare and Medicaid. That's the biggest expenditure we have. Those two things, the debt, interest, and Medicare and Medicaid. And, Eldon, I look at this and I go, wow. You know, this is going to be the undoing of America, in my opinion.
[00:04:33] Because at some point, the rest of the world is going to lose faith in our credit system. Eldon? Yeah, well, if you look up online on YouTube, you look up Robert Welch, 1958 predictions. Robert Welch was the founder of the John Birch Society.
[00:04:50] Even back in 1958, he said he listed 10 things that the communist, socialist, Fabians wanted to do to change the U.S. into basically a carbon copy of the socialist world. The first thing, I think it's the first thing on his list was spending money and driving up deficits, spending money as wastefully as possible.
[00:05:20] That was back in 1958. He could see that coming. And nowadays, drunken sailors look tame, don't they? That's the entitlements, really. What's that? Nowadays, drunken sailors look tame. Oh, yes. Yeah, right. Well, we, uh... We stepped away from constitutional limitations on spending, and here we are. Amen. Heath?
[00:05:48] Yeah, I had an economics professor who used to work at the Royal Bank of Canada, a central banker from Canada. And back in 2011, I asked him, like, his name's Amir Kiyah, he's from Iran. And I was like, Amir, like, what happens when our interest payment, when our interest goes up? And back in 2011, he said, God help us all.
[00:06:11] But from 2011, well, pretty much from 2008 until 2013, we haven't had higher interest rates. We have had almost 0% interest rates. And so we've revolved all of our debt into super low interest rates, not thinking anything of it. But when we got back into realistic interest rates like we are now, this interest is going to sink us. And his statement was, God help us all. Like, we cannot get out of this kind of debt when we have interest payments that we can barely afford.
[00:06:40] The interest payments are larger than the defense budget. Like, that's what's so crazy. Yeah, they're battling for supremacy right now because they want $1.5 trillion for the defense budget. We're spending $1.2 trillion on interest, and the defense budget has been about a trillion. So now they're kind of battling for supremacy here. But here's the interesting twist that's going to make your point and Amir's point absolutely reality. And here it is.
[00:07:07] Federal Reserve minutes reveal broader support for higher interest rates. Minutes from the Fed's July meeting show several policymakers believing that additional tightening may be necessary because inflation remains elevated and it's extending concerns that interest rates may go higher longer. And that alone, what will that do?
[00:07:35] I mean, Heath, you think about it, it's one thing for the interest rates to stay elevated, but it's another thing to start cranking on that valve, right? Yeah. Yeah, the higher our interest rates go, the more we have our 10-year Treasury bonds that have to be revolved into a higher interest rate. Right now, we are three years into revolving our 10-year Treasury bonds at these higher interest rates because we've only had three years of higher interest rates.
[00:08:00] So we're only 30% of the way through the 10-year Treasury bonds that are the bulk of the U.S. bonds to be revolved into a higher interest rate. We have 70% more pain coming. And if they continue increasing the interest rates, that pain is just going to be amplified. We can't afford what we have been spending. The U.S., if you look at it from any angle, is as bankrupt as you can get it.
[00:08:29] The magicians in the financial realm are trying to do things as much as they possibly can, but in the long term, like Eldon was saying, this has been a play in the playbook for a very long period of time, and it's finally showing its truly ugly face that we can't pay this. We can't afford this. The nation will be in debt, and the debtors will own whatever the assets are of the nation. That's what happens when you claim bankruptcy.
[00:08:58] Like, we can't afford what we have and what we've been spending, and no one's stopping anything when it comes to spending. But to be honest, most people can't even comprehend what a trillion dollars even means, and so I've always broken it down to... I can't even understand what a billion is, sir. But if we break it down into time, we can kind of comprehend a little bit. So it takes 11 days to live a million seconds.
[00:09:26] It takes 34 years to live a billion seconds, and it takes 34,000 years to live a trillion seconds. That is the difference between a million, a billion, and a trillion. 11 days, 34 years, or 34,000 years. That is what we're playing with. These numbers aren't... And then 34,000 years times 40. Yeah. Right? Incomprehensible numbers, yeah.
[00:09:57] The society has no clue how big this debt is. But don't worry, Eldon. They say you're going to live longer, my friend, so you're going to be okay. You're going to be able to pay taxes a lot longer, bro. Mm-hmm. Well, yeah. Well, you know, one of the main solutions is... Go ahead, Eldon. ...being pushed to change the Constitution through a constitutional convention or have some sort of balanced budget amendment.
[00:10:22] But, you know, that's such a Trojan horse that we've talked about a number of times why we shouldn't go down that road. It's not the fault of the Constitution that we're in this mess. No. Amen to that. They say oil prices jump as the Iran crisis and straight of her most disruptions continue. Food prices climb. It's out of control. We'll talk about that with Heath and Eldon in seconds.
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[00:12:15] The freest, most prosperous, happiest, and most respected nation on earth. Visit topreservethenation.com And order my book and lectures to begin the restoration of this great nation. All right, so the contention with Iran. The Strait of Hormuz. I don't know who's blocking what. They say Donald's bringing tankers through stealth-wise.
[00:12:44] The Iranians say, no, he's not. He's lying to you. The truth, we can't really know. But oil prices are up. Food prices are up. And people are starting to panic because our oil reserves are at an all-time low. So, right now, and as far as I understand, when I go to the grocery store, man, you can tell me anything you want to. But when I try to put gas in my car and food in my tummy, it ain't going too well there, Heath. Agreed.
[00:13:10] Yeah, we are at a point where the warning needs to go out for people to understand. Like, J.P. Morgan even made the statement that you are going to see, in 2027, a very large food crisis across the world. We are seeing more and more and more of these refineries having issues with whatever it might be,
[00:13:37] from explosions in the Netherlands to continued explosions in the Middle East, like, of these refineries. So, the refining process is just, it's being, you know, crippled severely. And a lot of the refining allows us to utilize some of this petrol for creating fertilizers. And the fertilizers are completely down when it comes to production. And so, we're not going to have the food that we had.
[00:14:06] And that struggle is going to fall into this, where we're going to have, you know, food insecurities around the world. And so, this is where we need to start getting back to realistic behaviors as, you know, citizens, where you need to be responsible for your own and those around you. You need to start taking things serious.
[00:14:30] We one of the most idiotic things that we've ever done in the past was wealthy individuals, they would remove out of production huge swaths of lands and put lawn in instead. And it was a status symbol of how much land do I, I don't even need to farm because I'm so wealthy.
[00:14:53] And they would take this productive land out of use, create gardens, create those little hedges and mazes and whatever else. And it was a show of wealth. But we've kind of followed in suit with that. And we have yards that aren't productive. They're sterile. We don't even grow. Yeah, I just installed my own putting green there, Heath. You want to come on over and hang out for a while? We can put for, you know, it's that kind of stuff, right? But, yeah, I'm with, I'm there.
[00:15:19] But at the same time, we need to start getting back to putting fruit trees in and dealing with, we don't like the mess. Everyone's like, oh, I don't want the mess. So I'll just get rid of my fruit trees. Who cares? We are at a point where if we are, if we are struggling with food because it's too expensive, we need to bring that back home again. Well, Elden, you were thinking about going on a diet. I think this might help you with your diet, my friend. Thank you.
[00:15:46] It's nice that the government just provides all these solutions for us. It's a little bit crazy. You gentlemen know what personal pricing is. Do you know what that is, Elden? No? All right, well, let's say you're going to go in and buy a steak. You're rolling in. You're feeling good. You got a raise. You're doing awesome. Everybody else is kind of suffering, but you're doing all right, so you're going to go celebrate. So you roll into a restaurant and buy a steak, and they look at you and they go, this is Elden Stahl, isn't it? Yes, sir. I'm Elden.
[00:16:16] How are you doing? They go, we got a little bit of intel on Elden. He's doing pretty well. He got a raise. He's doing great. I look at his buying habits. He buys stuff. I mean, him and his wife buy stuff on Amazon all the time. They're doing pretty good. His insurance is low. He's got good credit. Man, you know what? This steak for Elden, it's this price. Just say $100. Nice steak. Don't worry. It's a good steak. Sam walks in. His pores all get out. They go, man, this guy.
[00:16:45] We ought to give him a hamburger, not steak. But if he needs a steak, all right, we'll give it the same steak for him for $80. And Elden, your friend Heath, though, man, that guy's a coin dealer. He's rich as all get out. We're going to charge Heath $120 for his steak because, man, that's what personal pricing is. And so now the Federal Trade Commission and the Donald, they're considering requiring companies to disclose personalized pricing.
[00:17:15] So if you come in, they're going to say, you know, Heath, we're charging you more for your steak because you're doing fine, bro. I mean, you got one of them golf greens in your front yard, man. They're going to go to Elden and say, we're going to charge you medium for your steak because, I mean, you just got a raise. And they're going to say, Sam, you live in the hood, bro. We're going to go ahead and only charge you. We're going to charge you $80 for your steak. But, man, we see you're kind of down on your luck. You haven't had a raise in a long time. We're only going to charge you $60 for your steak. Don't worry, though.
[00:17:44] Elden and Heath, they got you, bro. When you take Sam's $60 steak and the $100 steak for Elden and the $120 steak for Heath, you got $220 and $60, $280. We divide it. Hey, man, we're getting $95 a steak. We're doing good. Heath? Yeah, I've heard this is coming.
[00:18:08] And the downside is the digital money that they're wanting to implement, the digital system they want to implement would have this potential. Even to the point where it's like, hey, I'm not even looking at finances and what we should charge them, but saying, hey, I don't even want this person. I don't want anyone to eat more than two hamburgers a month. And so that third hamburger that you try to buy, they can deny the transaction.
[00:18:35] Or if they don't want you to be traveling outside of your location, they might give you a 15-mile radius saying, hey, I don't even want you leaving your location. So if you try to buy fuel outside of 15 miles, we're going to deny the transaction. Denied. Yeah, programmable money is scary. And you've heard of Fat Amy, right? Have you guys heard of Fat Amy before? Fat Amy. Yeah. Anyway, she's a very important person running around, celebrity kind of person.
[00:19:03] Anyway, Fat Amy, pretty soon they're going to say, Fat Sam, no third burger for you, bro. You're out of control, man. I don't know why you like Big Macs so much or whatever. You go to the five guys and get a triple. No more burgers for you, sir. We're going to put you. And that's really what's happening with this personal pricing. And personal pricing backs into, I can't remember what the term is, but it's pricing by the time. They'll charge you a certain amount if everybody wants coffee in the morning.
[00:19:31] Coffee is really expensive in the morning because there's a high demand. If you get your coffee later in the day, then it'll be a little cheaper. So it's kind of time-based pricing. And they're working on all these different pricing models. And pretty soon it's going to be backed into this China situation where you have your personalized, quote, behavior credit score. And if you don't behave right, then you might not get it at all. You'll be denied and or you'll be charged more.
[00:19:56] Now, if you'd be a good socialist, Heath, then you can have a third hamburger, buddy. Oh, yeah. Oh, yeah. They love playing favorites. And they love having people rat each other out in those systems as well. So it's, I don't know. And Eldon, we're going to call you dessert boy if you stay on the reservation, buddy, and be a good socialist. We'll give you dessert, buddy. You can have dessert. You know what I mean? Chocolate milk with your breakfast. You're in good shape, man.
[00:20:27] And I know this sounds kind of corny and sounds crazy, folks. But this is really what these elitists think. And this is really what's happening in communist China. And this is really what they're looking towards in America. Remember when they started saying, hey, you can't have a big old soda pop in California and other places? Hey, no big soda pops for you. That was kind of an inkling of what's coming. They're serious about this. This is not a joke. And we can laugh all day. But we laughed and thought society would never shut down over the cocoa deal. And we realized it was the COVID con.
[00:20:56] It was the Fauci facade. And they shut us all down. So, you know, this stuff can be real. We don't feel like it right now. But pretty soon when there is a food shortage, as Heath mentions in 27, and or they start to put some of this personalized pricing in place, it's going to become real very quickly, Eldon. Yeah, yeah, definitely. It's really Marxism taken down to the individual level. Many people call it technocracy, but it's the merger of the Marxist philosophy
[00:21:25] with the technology that's emerging in order to bring about another form of tyranny, which is very insidious. I guess we'll throw out that $64 word. But, yeah, this is something that we have to push back on. And the AI data centers, those are certainly a big part of that. Without them, you really can't build up this infrastructure. Yeah. You can't model it.
[00:21:55] All right, ladies and gentlemen, if I take $40 trillion, and I divide that $40 trillion by $350 million, that's the dollars to the people, right? Every man, woman, and child in the country, plus a little bit for the illegals that are coming in today and tomorrow, then the number you get, $114,000 for every man, woman, and child in the country, even including the illegals. $114,000, that's on top of all your other debts, ladies and gentlemen, just so you know. It is out of control and not sustainable at all. But don't worry.
[00:22:23] Donald decided he's not going to charge Canada tariffs for a little while, Heath. It's good now. It's all okay. Good on you, Don. Yeah, no, we are at a point where we have to look at what really is important and start focusing on the things that are important and start getting back to principles that the generation, the greatest generation that went through the Great Depression had. We need to get back to sound financial principles.
[00:22:53] We need to get back to sound home food security principles. Start growing your stuff. Start living within your means. Start saving. Stop spending. You know, there's a point where this economy has always been based around a consumption economy. It's not a savings economy by any means. And so if we can change that in our own personal lives,
[00:23:19] we can shift away from the system that they want us to be in, which is a consumption system. And that's where, you know, we almost have this incentive through endorphins to spend. We get a little endorphin here, a little endorphin there from spending and buying things versus saving and watching, you know, the growth that can come from some savings. And again, savings in the dollar isn't always the best route to go.
[00:23:47] So that's, I mean, hence why I suggest individuals look at something that can last beyond the dollar, which is gold and silver, which has always been money. Saving something that's more beneficial to you in the long run. But yeah, we've got a long way to go. Freewatercoinco.com, everybody. You've got a partner when it comes to honest money. Thank you, Heath. You're welcome. Thanks, Sam. Eldon Stahl, my friend. And thank you so much as well.
[00:24:16] I'll pray that you can collect enough gold and silver to stabilize your family. One of the best ways is to insulate yourself. And the way you do that is you don't have debt, you grow your own food, and you go ahead and don't need outside sources of getting and spending all the time. That's the way to insulate yourself. Eldon Stahl, thank you, sir. You bet. Let's be on. Yes, indeed, ladies and gentlemen. TheNewAmerican.com. I'm Sam Bushman. God save our constitutional republic. I'm Sam Bushman. I'm Sam Bushman.