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The Mike Church Show-Radio Would Have Thwarted The Trump Assassination Attempt The KingDude
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Mandeville, LA – Exclusive Transcript – You know what I say, Phil, at the end of all this? Who cares? Literally, who cares? You just said it yourself. The dollar crashes in some manner, the Euro goes first, some of the European currencies crash, then the dollar crashes. There will be a period of hyperinflation which will then be followed by deflation, I believe. I know Peter Schiff and other economists believe it’s going to be hyperinflation. You’re going to have to have $170 to buy a gallon of gas. I think maybe for a time you have hyperinflation, but I believe that ultimately you have a serious deflation. Then you’re going to have people that are not going to be able to live the fake lifestyle they live today because it’s supported by debt. The government runs debt up on your behalf. Check out the rest in today’s transcript…
Begin Mike Church Show Transcript
Mike: Phil is in Florida. Hello, Phil.
Caller Phil: Good morning. I called today to talk about the two percent tax increase. I’m so tired of hearing this administration beating that talking point to death every single day. They’re not saying anything about the other 356 days that we need to resolve. The budget is upside down. The tax increase on the rich is going to do little to solve that. Nobody has called him on it. Certainly the press is not calling him on it. Every day they get up there and drone about the two percent.
Mike: That’s because they have an agenda. Their agenda is clear. The agenda is not to do anything about the out-of-balance federal monstrosity’s budget. They’re not going to do anything about that. This is a head fake. By contrast, though, it’s also not fair to say that there is someone else that would do something about, because the Republican alternative, the one that Boehner has submitted, is almost equally as awful. There’s only a $600 billion difference over ten years. The Boehner plan adds $5.2 trillion to the national debt, the Obama $5.7. We’re talking peanuts here.
Caller Phil: Where does it end?
Mike: You know what I say, Phil, at the end of all this? Who cares? Literally, who cares? You just said it yourself. The dollar crashes in some manner, the Euro goes first, some of the European currencies crash, then the dollar crashes. There will be a period of hyperinflation which will then be followed by deflation, I believe. I know Peter Schiff and other economists believe it’s going to be hyperinflation. You’re going to have to have $170 to buy a gallon of gas. I think maybe for a time you have hyperinflation, but I believe that ultimately you have a serious deflation. Then you’re going to have people that are not going to be able to live the fake lifestyle they live today because it’s supported by debt. The government runs debt up on your behalf. The government is creating money out of thin air that should not exist. This is what creates the illusion of an improving lifestyle. Your lifestyle is not improving. When you look at hard data to see what you could buy with your dollars that you earn today, you cannot buy today what you could buy in 2001. The fact of the matter is, most Americans are as much in hock and in debt as their government is.
We know it happens. You can’t run the debt up forever. Somebody at some point in time will say: All right, fork it over, pay up. It is irresponsible and a dereliction of state legislatures’ duties, and I’ve been on bended knee begging my state legislature to do something about this, to prepare for what it is that’s going to happen, both militarily, meaning if there is some civil disobedience as a result of this you better be prepared for it. The other thing is, the states better be prepared to legalize some gold and silver coinage and pick it up and provide money. Somebody is going to have to provide money. The federal government’s money is not going to be trusted any long.
Caller Phil: Do you think the administration thinks this is a forgone conclusion as strongly as you?
Mike: I don’t know what this administration thinks. To tell you the truth, I’m really tired of obsessing over what the administration thinks. I’m worried about what the Jindal administration thinks, quite frankly, sir.
Caller Phil: I understand. I just don’t understand why, despite whatever you think about their politics, which I don’t necessarily agree with, why would they stand idly by and let this happen?
Mike: There can be a couple reasons for that. One could be ideological. Perhaps they have an ideological predisposition to believing that this is the only course. Perhaps their position is economical and they believe, like Paul Krugman and some other people that call themselves economists believe, that you can run debt up, if you’re a government, till the end of time and there is never a need to repay it. You just keep printing money. Don’t worry about it, just ignore it, and there are no consequences for that. I just don’t think that is a practical point of view. Perhaps there is a sinister point of view. I don’t know. Maybe there is a New World Order out there. Maybe the Bilderberg Family is in on it. Hell, maybe the Knights Templar are responsible. It’s Christmastime, Phil. Let’s sing a Christmas carol.
Caller Phil: Thanks for taking the call.
Mike: I wish I had an answer for you, sir.
Caller Phil: I wish there was an answer.
Mike: Phil, you know what the answer is? Pray, sir, pray.
Caller Phil: I’m doing it.
Mike: Keep doing it. Keep doing it my friend. Pray.
End Mike Church Show Transcript
Mandeville, LA – Exclusive Transcript – "Abortion, and even contraception, even in the prevention of pregnancy, is verboten in church teaching. This goes all the way back prior – this is taken directly from the gospels, directly from the Old Testament, and then passed on traditionally." Check out today’s transcript […]
Scott Thomson on December 11, 2012
The Bretton Woods agreement, in 1944, made the US Dollar “As good as gold” and our trading partners used the dollar to back up their currencies. Over the next 30 years, the dollar was accepted as the world’s exchange currency and was in high demand. This encouraged the Feds to inflate the dollar supply, in proportion to gold stocks.
When foriegn central banks began to realize that the dollar had been over printed, they lost confidence and decided to exchange their dollars for gold. As the US gold reserves fell from 20,000 tons to just over 8,000, president Nixon appeared on television to declare that the gold window was closed, thereby defaulting on obligations.
At that point, foriegn central banks were at a crossroads and because oil was cheap and the US economy was strong, decided to continue the use of the US dollar as the worlds reserve currency. They percieved the dollar as a promise based on future growth and prosperity.
Because demand for the dollar remained strong, the printing presses ran overtime. Essentially, the US was exporting inflated dollars and importing cheap foriegn goods. As US consumers, we all benefitted from that arragement, as trade imbalances necessarily grew.
The US Council On Foreign Relations put it this way:
To supply the worlds risk-free asset, the center country must run a current account deficit and in doing so become ever more indebted to foreigners, until the risk-free asset that it issues ceases to be risk-free. Precisely because the world is happy to have a dependable asset to hold as a store of value, it will buy so much of that asset that its issuer will become unsustainably burdened.
Have we become “unsustainably burdened”?
Carl on December 10, 2012
“Somebody at some point in time will say: All right, fork it over, pay up.”
And that’s why hyper-deflation is in the cards.
There’s only about $1.4 trillion in U.S. currency in circulation worldwide to service the demand for payment should it arise. And contrary to popular myth, the Fed is under no obligation, legal or otherwise, to monetize any of the credit currently being used as currency, and that includes the credit that populates every bank account of every type within the U.S. and the credit currency being held abroad. Think about it; why have an FDIC if the Fed were obliged to print to cover bank held deposits? They are not and they won’t. See: U.S. 1930’s, which resulted from a cascading collapse of credit as currency, and that is exactly the potential we face today.
The banks currently have $1.4 trillion in unencumbered assets sitting at the Fed to purchase $1.4 trillion in FRNs if the demand arises. There is currently $48+ trillion in potential demand floated around the globe. Somebody, somewhere is going to come up short…