RHS 178 - Carol Roth Answers “What F#$% Is Going On With the Economy?”

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Hello, everyone, and welcome back to the show. Today we have a tremendous, tremendous episode.
A triple tremendous, another tremendous episode with you, with the phenomenal, the all-knowing, all-seeing Carol Roth, a second-time guest on the show. We had Carol on the show, I think, about two years ago when her book, The War on Small Business Business came out.
Absolutely tremendous book. And Carol is someone that I follow on Twitter.
I don't follow a ton of people on Twitter, and she's one of the few that I do. I think that she has one of the most rational, honest takes, like real world takes on the economy, on business, on the impact of policy decisions that are, you know, in a very bipartisan kind of way, you know, and Carol even says it during the show, she doesn't focus on politics, she focuses on policy and how it's impacting our economy, our businesses, and what we can do as leaders, as business owners, as professionals to set our lives up, set our businesses up so that we can survive and or, if possible, thrive in, you know, the current, both the current economic environment and what is coming down the road.
And just absolutely brilliant human who I enjoy immensely. She's also on-air television personality.
And, you know, I even mentioned this during the show, she did Glenn Beck in the morning and then did the Ryan Hanley show in the afternoon. I'm sure there are other shows in there as well.
Not often that this show is associated with Glenn Beck's, hopefully someday. But, you know, very honored that she would give us her time and share her thoughts, her, you know, I don't want to say prognostications, but just, you know, where she sees and some of the things that she sees coming down, trends and concepts that she sees, and how we can start to set ourselves up.
She's also the author of a new book, You Will Own Nothing, which is basically teaching us how to prepare for the new financial order. And if you follow the economic news at all, you know that the WEF, the World Economic Forum, headed by Carl Schwab, you know, they basically want to take all our shit and want us to just live off the scraps that they provide us.
And, you know, that's not a political statement. That's quite literally what they've said.
So how do we deal with that? Like, how do we interact in our lives in a way that we can be productive and happy while still dealing with some of these really heady concepts. We discuss all this.
This is an absolutely tremendous episode. I also want to let you know that we're going to be running a contest for some giveaways for her book.
So I bought a bunch of copies of her book and we're going to be doing a giveaway. So here is how you get the giveaway, how you get a free copy of the book that I'm going to mail to you.
So all you need to do is share this episode of the show somewhere on social media with a little description, Twitter, Instagram, LinkedIn, Facebook, whatever your preferred social network is. All you need to do is share it, give a reason why you're sharing it.
And that reason hopefully is not just to get a free book. Although, you know, whatever, if that's what you want to say, that's fine.
I love that. But share the show, take a screenshot of it, send it to me.
And everybody that does that, I will get you, or the first, sorry, not everyone, the first 10 people to do that, I will get you a free copy of the book. Okay.
And then any more copies of the book that I get over time, anyone else who sends me, I'll try to get you a copy. But really, guys, I hope you pre-order this book.
It's absolutely tremendous. We're going to try to have Carol back as we get closer to the release of the book in July.
But pre-order the book today. This is going to be one of the most important books, one of the most important concepts of possibly our lives.
We're living in a time where I think not everyone is fully aware of what's happening

and how we need to position ourselves.

There are changes happening in our world

and if we can set ourselves up properly,

we'll be able to be successful

despite those changes.

So this is a wonderful, wonderful episode

and couldn't be happier

to have Carol on the show.

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Go to T-I-V-L-Y.com. With that, let's get on to the all-knowing, all-seeing, absolute tremendous, Carol Roth.
Let's start with like, what is the thing that you think is like the most? There's so much going on, right, in the economy. I i i was like where do i start i kind of almost just like right now for you sitting here having done glenn beck this morning like what is the thing that on your brain you're like is the the most snappy right now like the most important thing that's happening that we need to be thinking about as business people as individuals in the united states okay so this going to come off sounding like a crazy conspiracy theory.
And for those of you, the members of your audience who have heard me before with you or elsewhere, like I'm a pretty common sense down to earth person. I have, you know, a financial background.
Like I don't come from sort of the tinfoil hat crowd, but doing the research, you book, You Will Own Nothing, coming out this summer, the biggest concern that everything else kind of falls under is the changing of the global financial order. You might call it a new world order or a new financial world order, which again, sounds super conspiratorial.
But I will point you back to comments that Joe Biden made March 2021 to Business Roundtable. Business Roundtable, as you know, CEOs of all the major US companies.
And he said, you know, history predicts this. Every three or four generations, there is a new world order, a new economic world order.
And we are basically on the precipice of that. And then, of course, he says, you know, we have to lead it.
And the question in my mind is, well, who exactly is we? And how do you make sure that that happens? Is we you and your buddies and, you know, all the wealthy elites? Am I included in the way? I probably am not. But when you start, when you hear about this, it's not a conspiracy theory.
The president has talked about it. If you are a student of history, you can go back to the Roman Empire or in more recent times, the British and the Dutch financial empires, And these things rise and they fall.
And history tends to rhyme. And we have all lived in this period of incredible prosperity, where we have been the central of the global universe, which has created these incredible wealth creation opportunities for us.
And we are now at a point, we are marching towards that shifting. And unfortunately, when it shifts, and I don't know when, I don't have a crystal ball duration, one of those things that I cannot predict, but when it shifts, that means a shift in the standard of living that we have had here in the United States, and potentially our military capacity, just everything that we have all known for the past 80 years while we have been at the center of the global financial universe, all of the signs, everything that I'm sure that you're going to deep dive into, the different pieces of this, all line up under this big umbrella.
So that is the piece that's concerning me. And everything else is just a puzzle piece on how that all comes together.
Yeah, so just so you know, we are very pro conspiracy theory on this show. And that does not sound like of all the things, of all the crazy shit that I've said and talked about on this show, that's not even close to the craziest.
Because that pretty much seems like exactly what's happening. You know, one of the things that I, so I'm, I would like to consider myself like, I'm not a true believer, but I certainly, I'm somewhere between, I think healthy skeptic and true believer on crypto, particularly Bitcoin, a lot of the other stuff.

And not even so much like Bitcoin, the thing, but this concept, the concept that Bitcoin represents. I actually think it's amazing that Apple has been putting the Bitcoin manifesto inside macOS since 2018.
I don't know if you saw that story that recently came out. I mean, I just want Steve jobs to be Satoshi Nakamoto.
So badly. I just so badly.
I want him to be, it doesn't matter if he is or not, but what's been in what really kind of, I can't stand Elizabeth Warren. I give her credit for the fact that she takes a lot of abuse and keeps coming back.
But I think she's absolutely bananas in the way that she views the world.

And she said in an interview the other day,

she spends the first of a two and a half minute clip.

I went and watched the full thing.

It's only maybe about five minutes long,

which is probably part of the problem.

It's really not, no, this doesn't need any additional context.

It wasn't taken out of context where basically she spends the first two

minutes of this two and a half ish minutes clip, just tearing crypto apart. It's for criminals.
It's a scam, but just bam, bam. And then the last 15 seconds she drops.
So we're looking forward to the drop of a CBC or CBDC in July or late June, whatever it is. And, you know, and then, and just, and then it just ends just like that.
And I, and it, my response, and I share that, and this is where I get myself in trouble on Twitter because not as much anymore, because I used to have a blue check. Now everyone kind of does if you pay the eight bucks, but you, you, I just was like, how, how, how is it so transparent today? Like it's almost if they're playing the perfect hide in plain sight game today.
Like, we're just going to trash Bitcoin for being, but no, this thing over here where we can just control all that, that's perfectly fine. That one's fine.
How are they able to do this? How are they able to kind of, is this just the slow drip method that they were able to get us here? Or how does, I mean, listen, the hubris of saying the quiet part out loud, whether it's, you will owe nothing, there's going to be a new financial world order, we want to control your money, you know, whatever it is, you know, I'm not a psychologist, I can't tell you that. But I can talk about sort of the financial and political and, you know, those kinds of implications and those kinds of implications.
Elizabeth Warren, first of all, is one of my least favorite people, because she knows better. Elizabeth Warren is actually a smart individual.
And so, you know, it's one thing for the dopes that are reading talking points to say them aloud. It's another thing to just be completely evil and know that you're spouting something that is for your benefit and to the detriment of everyone else.
And I put Elizabeth Warren in that category. So that's one of the reasons why I find her to be so detestable.
But there are a few things that are going on around CBDCs that I think it's important to clarify because right now in the conversation, there's a lot of conflation of issues. And because it is so important, I think it's critical that we clarify them because if people start talking about the wrong things, then they're going to say, see, this doesn't make any sense.
These people don't know what they're talking about and discredit them. But if we can hone in on the things that are important, then that changes the game.
So the first piece of conflation is a central bank digital currency is the same thing as a cryptocurrency. It absolutely is not, particularly with Bitcoin.
Bitcoin and crypto that's of that ilk. The whole point of it, as I'm sure you well know, Ryan, and your audience knows, is decentralization.
It was a pushback against the fiat currency and the derelict management of the U.S. dollar and various currencies around the world by central banks and governments.
and the CBDC is the exact opposite. It is complete centralization and control.

It means the Fed and the government,

who in many ways already have some level of control

over your moneyization and control. It means the Fed and the government, who in many ways already have some level of control over your money, have control over every aspect of your money, which means over every aspect of your life, meaning whether you can earn money, how you can spend money, how you can get access to things in life, such as medical care.
This is really scary stuff. It also creates a too big to fail scenario on something that makes the Great Recession financial crisis look like child's play.
So what they're trying to do is they're trying to conflate the interests that people have in cryptocurrency. And for the people who are less savvy, say, oh, well, here's a safe version of crypto.
Here, we have a digital currency. It's not a crypto.
It is not decentralized. It's completely centralized.
So we have to be very clear that the central bank digital currency or digital dollar is not crypto and stands at odds for what it stands for, because that's first level of conflation. The other thing that's happening right now is that the Fed is putting out a new payment settlement system called FedNow, which is launching in July.
And people are conflating that with CBDC. And I'm on the record, the Fed cannot be trusted.
And I'm not saying it's not a good idea to keep an eye on Fed now, but Fed now is a payment and settlement and clearance service. It is not a currency.
They're different. Not to say that it couldn't be expanded and tied in with the currency and we should look at it, but we already use ACH.
We already use wires. There are plenty of Fed payment settlements.
I mean, that's how the financial system works. So this is something that speeds that up, in my opinion, and the talking point everybody should take away from this is, well, this basically takes away the only real need that you said we had for a central bank digital currency, which is the speed of payment.
If you have a FedNow payment system that speeds up settlement, we don't need a CBDC for that.

So then it only becomes about power and control.

So I think that's really important. And then the other thing is that in terms of what is being said, the idea that, oh, we're not exploring a CBDC at the U.S.
level, they've already told us that they have. The New York Fed last year initiated a pilot program with several major financial players.

I'm going to for fear of getting them wrong. I'm just going to leave them out now.
But you can you can follow you can ask me for to tweet them. But they're they're major, a major credit card company, major banks, those kinds of things.
And then the G7 countries put out principles for a retail facing CBDC last year as well, which means, you know, they're coming up with principles to work around a retail facing CBDC, but it's not something they plan to work on. Why would they have principles? So they have now told us and shown us this is something that they are seriously considering.
So the idea that this isn't something that is likely to happen is not the case. Now, it does have to be approved by Congress in order for them to have the authority to create a digital dollar.
And this is what we have to vehemently oppose because they are going to try

to sneak it in something else, like wherever it is, some other crisis, some crypto legislation, something they're going to sneak in. And they're not going to call it a digital dollar, but they're going to sneak in the language that basically gives them the approval.
Once that happens, we are done. So we need to stay vigilant, stay on top of it, find that, do call campaigns, do writing campaigns, do peaceful protests.
We cannot let that happen because that will be the end of freedom and opportunity as we know it. The hard part about this is that moderates, Republicans, and conservatives have jobs, so it's really hard to protest.
That's the really hard part about this. I hear you, but you won't have a job or the money you make from your job you won't be able to spend if you can't do this.
So it's one of those things. There are a lot of things people rally around.
This is the most important thing that people aren't rallying around. I'm starting to see a little bit of pushback, but we need much more widespread thing.
Sit down with your neighbor, have a talk about CBDCs. Another thing that I cover, you will own nothing.
So if you can't explain it, I will explain it for you. You give them a copy of the book when it comes out as well, and they can, they can page through it, but this is critical.
Yeah. I, so, so just, just for my own clarification, is FedNow similar to Swift? Like when, is that a similar type net, like payment processing network? Yeah, I would say it's more similar to like ACH or wire.
Okay. Okay.
Okay. That makes sense.
Yeah. It's more similar to that.
But again, it's the differential and for people like, well, why do we need this? Imagine you're somebody who doesn't make a lot of money and you go to the bank and you can't cash your check because you don't have money, money in the bank to cover it. So then you have to go to a payday lender and take out a payday loan during that three days it takes to settle the check.
Right. And so you're paying interest on this.
Now they're going to be able to have instantaneous settlement and they're going to be able to do it 24 seven. And there are private companies that are doing similar things already.
So it's sort of the internal banking system catching up to the rest of technology per usual. But again, this is all about settlement and clearance of payments within the internals of the banking system, which is very different than an actual currency.
Yeah. The thing that worries me is they're going to do with the CBDC, as you said, like what they did with this whole TikTok thing, where they're like, we're banning TikTok, except the bill doesn't even mention TikTok.
It's basically just we now have control to do whatever we want with your phone and everything you do on your phone, everything you say, whether you want to or not. And, you know, I was listening to, I probably listened to too many podcasts, but I was listening to Lex Friedman the other day and they were, he was, whoever his guest was, was explaining Pegasus 2, which is, I guess, either the CIA or FBI's upgrade to Pegasus, which was the cyber cybersecurity program that initially was launched during the Patriot Act where they just, no one even talked about it until 10 years later.
Right. And basically with, with the initial launch, they can, they can come into your phone.
They can do anything they want. You've never even know.
And all the double secret thumbprint encryption that you have, you know, it can't even stop it. Like it's just there.
And, and, you know, all this is just snuck in through these bills that, you know, we're debating TikTok and it's just like a big pony show. That's all, that's all the TikTok thing was, was because it, the bill doesn't even mention TikTok.
I guess, you know, I guess this is question that you may or may not have an answer to and just answer it however you will. I am not nearly as informed as you, but I'd say for just a lay person who doesn't do this as their job, but is highly interested and tries to stay informed.
I have friends and friends that own businesses, not just in the insurance industry, locally here in the upstate New York area. And I try to talk to them about these things.
And I just watch their eyes glaze over. And I'm looking at them going, you own a construction business that does $25 million a year in revenue.
And you can't even hear me talk about some of these concepts that could change the course of your entire life. Like they get to choose whether who you do business with.
They could not like the person who you're working with and just say, yeah, we're unwilling to allow this transaction to go through because we don't like this person. And now you can't do that project.
I mean, it may seem outlandish today, but the iterative nature of how this works, three, five years, this could be a reality. And the eyes blaze over.
Yeah, let's just talk about that. So this was my same thing.
If you would have told me 10 years ago, I would have said, absolutely not. There's no way we can do this.
But we just lived through this with COVID. We had a first early form factor of a social credit card.
It was called a vaccine card. It was analog.
It was ugly. It was a piece of cardstock.
But they stopped people from participating in aspects of society if you did not make a health care decision. So now they're conflating money and health care together and making control over that.
If you were in Canada and you were a trucker, they said, we're going to shut down access to your funds. And oh, by the way, they got tech companies in the US to agree with the Canadian government.
It wasn't even the US government, where there was a direct, you know, potential threat of repercussion with a different government. And so they also shut down those fundraising efforts.
So this, this is something again, seems ridiculous. It seems conspiratorial, but it's because we have lived through this incredible period of time.
And if you go back through history, history rhymes. There are cycles.
You know, as I said before, the Dutch, the British, Rome before that. Like, this happens over and over again.
And we are 80 years into our cycle. It is getting long into the tooth.
And we can see all of these things having happened before. And to think that it is not going to happen here now, especially after the past three years is just absolutely naive.
So back to your, you know, where this would start this conversation, you need to be sending those people articles, you need to be sending them books, you need to get them, you know, involved, have them watch a podcast, hey, I want, you know, want you to just five minutes, and just keep putting it because it's, you know, it's the exposure to it. Because the first time you hear this stuff, you know, as a rational person, who's been through a period of prosperity in the greatest country in the world, you're going to go, yeah, no, this is insanity.
But if you are a student of history and you start seeing the dots being connected and you start seeing what's happening around the world and you pay attention to the things that are not being broadcast in the mainstream media, even though some of the elite are saying them aloud

in other places, you're going to start getting that mind share. I mean, I will tell you what's incredible.
I'm sure you've covered ESG before, which kind of fits into all of this as well in the World Economic Forum. When I tell you, I have talked to CEOs of publicly traded companies who are touting ESG, have no idea what it really means or where it came from.
I talked to the head of ESG at a publicly traded company who's never heard of the world economic form. So you have the people who are now the carriers of these ideas into corporate America who've done absolutely no research and have no idea how this has come into the zeitgeist and what the broader implications are.
And that's just in nature, like you said, people wanting to focus on their business and manage their own personal risk and just kind of being oblivious to the macro around them. And you need to start to say, this is important because it is going to impact your business.
Just spend five minutes to read this. It may not come from you, but a trusted source, show them things that you're seeing that you find compelling.
And that's a great way to, because after you start seeing it a few times, then you're like, I'm going to look this up myself. Like, you know, the first time I heard you will own nothing.
I'm like, there's no way they said that. And I'm like, oh, oh, here it is.
Oh, wait. And then they said that the spirit, oh, and then that was repackaged in a video over here.
And you start going there and you're like, oh my God, this is not a conspiracies theory. It is just straight out in the open.
Yeah. It is.
Yeah. So I have so many thoughts on this.
So I got in trouble a little bit, a little bit of trouble, small amount of trouble because so we, we were, so I, the company that I owned when we, I first interviewed you, I sold in April of 22. We were wholly, we were acquired outright.
Stayed on, joined the leadership team of the parent company that bought us. And I still run the company.
I just don't have to max my credit card every month to pay payroll, which is. But what's funny is I said in a meeting one day, I was like, yeah, we don't do, we're not doing ESG.
They're like, what? I was like, I don't even know what it is.

I don't think you know what it is, but we're not doing it. So we're just, judge me accordingly, but we're not doing that.
And they're like, I got zero pushback because no one could tell me what it was. Now, I understand what the words stand for.
But it's because it's not definable by intention. So they can change it because it could change it to fit whatever narrative is happening on that particular day.
And we've seen that, you know, throughout the various, particularly in Europe, but even here in the US. Oh, well, you know, we're now at war with with Russia via Ukraine.
I think that weapons should be considered good. Yes.
Yes. G, don't you think so? I mean, they just change it based on whatever their needs are.
So no, it does not have a definition by intention. Yeah.
It, it, uh, yes, it's word games. And I, I don't, I don't, we don't, you know, it's now we're 20, we're 23 people.
I probably last time we talked, we were four or five, um, and we're growing like crazy, which is great. But what you find is all of a sudden you get the first 10 or so, you can kind of make sure that they're one of you, I guess you could say.
And then you start to get beyond that and you don't really have as much control. And we had to have a whole talk.
And thankfully, I have amazing people. And general, people who like to play word games, don't pick the insurance industry.
It's not a, it's not ripe for that kind of, but I just had to have a whole talk with guys. We don't play word games here.
We don't, we don't do that. We're, we're, you know, we don't play word games.
And, and, and part of that is, is understanding what the realities of that are happening in our economy, what's happening to our small business owners, because we have to understand what's happening to them. Like we had, we had three clients in SVB.
So Friday at six 30, I get a phone call and one of my clients is 6 million in cash and can't make, and just had his payroll, couldn't make his payroll. So payroll is supposed to go out on Thursday.
He wakes up on Friday to alarm bells. Obviously they had been watching the situation.
He had guys in the air on Thursday to San Francisco. Payroll doesn't run.
People are freaking out. He's freaking out.
And unfortunately there's like a Hail Mary pass coverage that could potentially call contingency business interruption, but there really isn't coverage for that kind of thing. And, you know, you're looking at that.
I'm like, we have to be able to communicate that. Like we can't be living in la la land with our head in the sand.
And we've, you know, we're working on starting to start internally in our company, start to talk about some of these concepts because man, nobody pays attention to this. Now, I guess, and this does have, I promise there's a question in this long, uh, meandering diatribe, which is, you know, kind of as, as someone who follows you on Twitter and, and, and kind of watches what you say, cause I, I obviously, uh, like the way that you think and trust your judgment on things.
Like how have you found the response, the communications to you, like coming out of COVID, you know, where people were very fearful. And now it seems like people are starting, you're starting to see more and more of the larger independent thinkers starting to put the pieces together and have these conversations.
You know, I certainly cherry pick what I think are the thinkers who I think that way, But I, hearing it kind of push out into other spaces. I mean, geez, Kevin O'Leary went on CNN the other day and two of the four, you know, said New York is uninvestable, right.
Which is like blasphemy, even though as someone who owns a business in the state of New York, I can say unequivocally, we are handcuffed beyond belief. If, if I could, if I could change in my business, it would be a Delaware LLC, not a New York LLC.
But, and out of those three nincompoops, one of them actually agreed with him. And I was like, something, something's happening here.
So what has been your experience? Do you feel like people are starting to push? Is there a, is there a groundswell for these kinds of ideas? Or are we still, does it still feel like you're tangential to what's happening? So it's interesting, you know, I was very early on, I'm always ahead of the curve. And, you know, when I kind of early stages of COVID, March, 2020 started coming out and saying, guys, we can't do these things and here's what's going to happen.
You know, I gotback I did when I said, guys, Trump's going to win in 2016 when I was a CNBC contributor and everybody on CNBC's air said, Carol, you're usually so credible. Now you're just spewing nonsense.
And I'm like, no, you guys, I'm from the Midwest. You don't understand.
I'm seeing what's happening. So I tend to see these things.
I can never predict time, but I do see the trajectories of these things. And early on in March, nobody wanted to talk about it.
And in fact, when my first book or not my first, my second book, the war on small business and one that preceded the current one came out, there was just no interest in it. Like everybody thought it was insanity.
And then all of a sudden, everything came true and it came to fruition. And then it was like, oh, well, Carol's been talking about this since like March of 2020.
Maybe there's something to it. So I think that there are people who lived through that completely, you know, unexplainable historic mess who said, yes, I need a stimulus check.
And we went, no, no, no, guys, this is going to create massive inflation. Oh, no, no, it's not.
And now they got the inflation. Oh, maybe they're on to something.
So I do think because the results have been so staggering, it's hard for, you know, at least some subset of the non-believers to become believers. Obviously, they're the cultists who are going to say, no, that never happened, which I do.
I get people who tell me that small businesses had no issue and they got tons of bailouts and whatever. And there's that sector appeal.
But there are a lot of people who are starting to go, maybe they're onto something. And that has sort of opened their eyes.
I would say there's another very large subset of people who identify many of the same problems, but don't understand the cause of them. You know, millennials who see the cost of college ballooning and their college debt and not even though they on an inflation adjusted basis are making higher incomes than Gen X or the boomers before them, inflation adjusted, by the way, that they still have less wealth and not understanding the root causes.
And so I think that's where the education gap is happening. It's like, okay, we understand these things.
Let's have more government. And it's like, no, no, no, no, no.
Hold on. This is where the problem is coming from.
Like literally every expansion of the government is stealing younger generations wealth and giving it to the older people and sucking up more of your wealth opportunities. And you just haven't connected these dots yet.
So I think there are more people who are seeing the realities that they've lived through. What's up guys? Sorry to take you away from the episode, but as you know, we do not run ads on this show in an exchange for that.
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Let's get back to the episode. Understanding there's something wrong, but they cannot or will not accept where the issues are.
And so that's, you know, where the education still needs to happen. Yeah.
I take, so I have a sister, she's eight years younger than me. And I use her.
So I actually, everyone knows this. I've told this story before.
I actually called Trump in 2016 too, because my mom, I sat down with my mom and my mom's like a saint. If you were to look at her, you'd say like probably moderate left, right? Not a crazy, like moderate left.
You just, she just looks like this saintly mother and she's great. She's best and i was taught i have a conversation i voted for trump and um and you know i'm talking she's being super quiet and i kind of did like one of these to her no one can see this move i'm making but you can obviously um and i uh and i go you're voting for trump aren't you and she kind of smile and I go he's gonna win I go if you're voting for Trump, aren't you? And she kind of smiled and I go, he's going to win.
I go, if Tracy Canfield is voting for Donald Trump, that guy is going to win. And so I use my sister as a barometer for like the, for like that.
She'd be like a younger millennial, older Xennial, i guess is kind of where you'd put her sure and and she has these ideas um she or a few years ago she had all these ideas she wasn't having kids because global warming was gonna just world and we're all gonna die right and um she you know thought you know donald trump was the biggest liar in the history of the world and he was this evil and he was his, the Gestapo and then, you know, thought, you know, Donald Trump was the biggest liar in the history of the world. And he was this evil and he was his, the Gestapo.
And then, you know, all this stuff. And what I've done slowly over time is say, like, look, like, you know, he's actually the least militaristic president that we've had in the last X number of times.
And I showed some of that stuff. And not that I was, not that I was pandering to Trump because there's plenty of shit to not like about him.
but it was more like, let's start to look at other stats. And what's really interesting, and this gives me a little bit of hope that maybe things are starting to change and there is potential for a counter movement against all this nonsense is she came the other day and she said, hey, I heard this thing the other day.
And I don't like what, what are they doing with inflation? What are they doing? And I go, who do you mean by they? And she goes like Biden and stuff. They're doing something with inflation.
I was like, and it was presented in kind of like he was doing something wrong. I was like, oh my God.
Like, wait, your generation can open their mind and listen to new ideas. And it's not just about these wacky concepts.

It always is the case.

I mean, when I was younger, first of all, I was not political at all until I got dragged into all of this commentary stuff on accident, completely on accident. You know, if you would have asked me in college, you know, I'm sure I would have had a totally different set of opinions because I was completely uninformed and I didn't care.
And then as you get out into the real world and you have to pay attention to these things because they impact your life, then you have to start looking at things differently. And obviously the entire world has become much more politicized and the U.S.
in particular, you know, over that time. So it's kind of hard to escape now.
But I don't give any young person a hard time, you know, for their points of views, for their ignorance, because I think that, you know, you're supposed to have that sort of doe-eyed, you know, hopefulness when you're younger and believe that the government is good and they're to take care of you and things are going to work out and America has opportunity, all these things.

But then, you know, you sort of get your critical reasoning on and you need to look at everything through logic. And I'm not a party person.
I don't belong to a political party. I'm not a fan of, you know, of any particular individual.
I tend to focus on policies, and I can tell you where I think the policies are good and

where I think the

policies are good and where I think the policies are poor on both sides. Although I have a much harder time finding the good policies on the left, to be perfectly honest.
And then I think the right doesn't execute on the policies that they talk about. So it is sort of a uniparty system.
But, you know, at least if you know what the reality is, then you can walk through and navigate that from a position of more information. And I think that's kind of one of the key themes here is information, because people don't want to face the reality.
Like, it's not fun to think about. But the reality is that we're not asking for people to panic.
We're just asking them to prepare. And yes, you may not be able to solve all of the world's problems or stop a new financial world order from happening.
But like, what can you do at a personal level and at a family level and at a community level to make sure that you are as prepared and that you are helping others and that you're helping yourself through what is likely, you know, in our lifetimes, knock on wood, to be, knock on wood for our lifetimes, not knock on wood for the outcomes, but, you know, a pretty severe transition to a very different standard of living than Americans have been used to. And that's, you know, that's not going to be a good thing.
People are going to be very shocked by that when it happens. And that's why you do need to prepare today.
And listen, I mean, you're in the insurance industry, you're all about preparation. I mean, that's your mantra is being prepared.
So if the people in your industry aren't willing to dig into this stuff, and listen to it and come up and think and find the solutions, then we have no hope that anybody else is going to. I will say that while our industry does tend to be insular, I will say in the conversations that I've had with individuals like yourself who expand outside the industry, the response tends to be large and it tends to be people are very open to new ideas.
I think that in general, because so much of the community that I serve is the community that you talk so much about, it's small business owners, like the vast, you know, independent insurance agents insure something like 80 plus percent of the small business owners in the United States. So we see what's happening in all these communities.
Our friends, our clients, our relatives, they are impacted directly by a lot of this stuff. And my hope is while many, while some are engaged, I do think that as an industry, and it's why I wanted, and I want to kind of do a rapid fire round with you next after this, why I wanted to have you on is I think we have to do more.
We're in a unique position from a financial place to be, it is very, it'll be very difficult. Just the nature of our business, it tends to be very stable, the renewals, the nature of it, how it operates.
We are fairly financially stable to varying degrees. So what, in my point in saying that and sharing this with the audience and my personal viewpoint is what that does is it puts an obligation on us in my perspective to be the stewards of these concepts because so many of our peers in the small business space or even in the mid-range business space, small little changes could have massive impacts on their business and they could be wiped out.
That is very, very difficult to do in the independent insurance industry. And that financial security, I think, creates a responsibility for us to stand up and talk because it's very tough to cancel this industry.
So let me put it more urgent. So, but let's appeal to your greed and your sense of self-preservation.
If you're the majority of your clients are small businesses and these changes are going to threaten their ability to be in business or to operate or whatnot, and they're not there anymore. And we have consolidation, like that does then threaten your business.
So there is the responsible steward of watching the crane trash, train, train crash and getting the blankets and being a helper to try to stem this. But ultimately, if you don't do that, and everybody that's on the train dies, and they're your clients, you have no more clients.
So there's a personal, you know, greed and incentive for you to act and to be out in front of this and to be those, those folks that think about the preservation and preparation, not just for your clients, but for your own businesses. Yeah.
We all need to have 10% Gordon Gekko in us, right? I mean, you're not going to get an argument from me. Greed is good.
And Blue Horseshoe loves and a cuts deal.. Yeah.
All right. So a couple topics that I had written down that I wanted to make sure we hit on.
Go as deep or as shallow as you want. Hit as quick.
Just concepts that I know are floating around people's minds that I hear in some of my masterminds and some of my people talking about. The idea of de-dollarization, that China is making these side deals, that things like crypto, you know, XRP is becoming the transaction thing in here.
You know, what is the reality there? What should we be thinking about? What should we be listening to? Yes. So I've written several pieces on this, including, yes, the dollar is dying.
Basically, the Fed's responsibility, you know, with the U.S. government by its side was by holding the world reserve currency, they have what's called the Triffin dilemma.
They have to keep the currency stable for the globe, but also for the domestic economy. Now, usually those are at odds with each other.
The Fed has managed to do neither. So it's not super well at home, right? Your dollar is not stable against a bag of potato chips.
And then on a world stage, when you have all of the major commodities, oil, food, and whatnot being priced in dollars, and the same dollar no longer purchases as much as it did before. These countries have national food and economic security issues.
Like this is economic and national security for these countries. So yes, you could imagine that nobody really liked the fact that the U.S.
was at the center of the global universe. But when we kept things stable, they sort of played along with it.
We have had a massive run here where we have not kept things stable. This is threatening other countries' livelihoods, not to mention there are other countries who just would like for us to go away and to kind of take the power.
So they are seizing on this opportunity, which is doubly an issue because us and the G7 countries are moving away from oil and trying to mandate this green energy. And the rest of the world is saying, we're going to use oil for human flourishing and grow our economies.
And those things are sort of at odds with each other. And oh, by the way, President Biden weaponized the dollar against, I mean, we've been weaponizing the dollar for a long time, but like to the point of no return, when during Russia's invasion of Ukraine last year, they decided to, without Congress's approval, freeze Russia's access to its reserves.
So you can't be the world reserve currency if you tell other countries, well, we can just freeze access to reserves at whim. So they've created a scenario where there is no other way to go.
If you look at China, which at one point was the largest holder of US debt, they were at a peak of $1.3 trillion that they held in terms of treasury securities. They are down to, as of January, just a hair under $860 billion.
So they're moving in the opposite direction. There are other countries that are shedding treasuries.
There are countries around the world last year loaded up on gold, 1,136 tons per the World Gold Council. So there is definitely a movement based on what has been done in the past, what has been done in the recent past by the Biden administration and just the opportunity that it creates to move away and to try to overthrow King Dollar.
Now, what this means, it doesn't necessarily mean that the dollar goes away. It just means that it may not play the same role on a global scale.
There could be lots of different things. There could be different global trading blocks.
There could be a global currency that's backed by gold or other commodity. I mean, there are lots of different ways this could play out.
But what it does mean is that we no longer have the same privileges that we did and the same kind of standard of living. The U.S.
government doesn't get to finance cheap debt. In fact, who's buying this debt? Because not only do you have the countries around the world not wanting to buy more treasuries, but big countries are dumping their treasuries.
So there's plenty of supply, which means the only entity left to buy our debt is us. Then the U.S.
government, which is the monetization of debt, which is what created this inflation, devalued the dollars, this purchasing power. So it's that trajectory that is a real thing.
And oh, by the way, you can trace this back again to the Roman Empire with Nero. He took, you can't see it ryan but your audience will say this is this is a silver coin that i designed for gold wine uh betsy ross freedom round super cool i guess he would take a round like this that was a denarius that had a certain amount of silver in it and they would call them all in and they would do one of two things they'd either melt it down and make it smaller and then keep that part of the silver or they'd supplement some kind of a lesser metal and send it back to you.
And that was a physical debasement of the currency, which is the same thing that's happening now on a virtual level. They're basically siphoning off the silver value and keeping it for themselves and saying, now you have this thing that was once, you know, one troy ounce of silver and is now a half troy ounce of silver.
So you have to think of it real concretely, but it happened there. You know, it's happened to the Dutch, to the British before us, like we're 80 years in, this is going to happen.
You have to prepare, you have to heed the calls that there is going to be this new financial world order. And de-dollarization is a component of it.
And again, I can't tell you the exact time period after Bretton Woods. It took 15 years for the new financial system to really fully come in line.
And in that point in time, you used to have the pound sterling as the major reserve currency, and then people held less of the US dollar. And then that completely flipped within a period of 20 years.
So again, but now we're in a different time and we're connected world. You have technology.
I would imagine it would be faster, but it's still going to be very chaotic and bumpy. And again, for your clients, these are the kinds of things that they need to be thinking about.
Yeah. You know, it's funny to me that a lot of people don't even realize that the Fed is not part of the federal government that like the federal.
Okay. I'm going to, I'm going to argue with you.
Okay. Well, I mean, so technically, right.
Technically a private institute, I mean, we know that that's not actually what's happening, but. But here's the thing.
Okay. So they, it's like, so they are an independent organization, but the board of governors and the Fed is an agency of the U.S.
government. They take any profits.
Now, currently they don't have profits, but in the past they had profits. When they made profits at the Fed, they gave them back to the U.S.
Treasury and they get their mandate from Congress. So wink, wink, nudge, nudge, like you're not part of the government, but you're 100% part of the government.
You know what I mean? Oh, I know. I guess, I guess my point, my point to that was that is the shell game that they're playing with the money is that they're selling this debt to a private entity when really it's just the same thing.
It's just, it's just your left and right pocket. It's just games.
It's just games. You know, and to your CBDC point from earlier, if they're willing to shut off Russia's access to their money, why wouldn't they be willing to shut off the money to any individual citizen who they didn't like what they were doing? They also confiscated a bunch of oligarchs, yachts and homes, which from what I understand, the oligarchs in Putin don't even like each other.
So, I mean, they had no information that anyone was made aware of that this was somebody that was related to the war. They were just trying to put pressure on.
So everything they have done is not a really good signal for your freedom, for your wealth creation opportunities, and for the health of the dollar. Now, again, there's a path to turn this around.
This can be salvaged. I just don't think anyone has the fortitude to be able to do that.
And I cannot think of a time in history where you've hit this point, and somebody's been able to right the ship. Certainly, you know, as a percentage of GDP, we were able to, you know, get our debt under control after World War Two.
But, you know, it didn't sort of change the general trajectory we're already, you know, in that sort of pole position. So I don't know this.
And one thing I'll tell you is that while not every war brings about a new financial world order, every new financial world order has been brought about by war, which is another important thing to think about. It could be fought in a different way.
It could be proxy or cyber or something these days. But that's just the reality of kind of a final catalyst because everyone gets real desperate when they start feeling like they lose control of the money, which again is why they're moving towards the central bank digital currency.
And they will probably do shenanigans like, hey, Ryan, I'll give you four digital dollars if you turn in your one dollar of cash, which just debases everybody's currency. But people did this during with the stimulus.
They took those stimulus dollars, not realizing they were going to have to pay for it. And that's what they're counting on, unfortunately, as an illiterate public, financially illiterate public.
One of my favorite things to tweet at people who I think are morons, talking head morons on Twitter is if you believe this, then you're not buying your own groceries. Because, you know, I still buy my own groceries every week.
And, you know, as a single guy, you know, I get two kids, I'm divorced. You know, my groceries three years ago when I was married for our entire family for a week would be like 125 bucks.
Now it's just me and my two kids and it's like a buck 50 to $200. Yep.
And we've dropped a whole physical adult human. By the way, everything's about three quarters of the size too, right? So they used to be like this, the people can't see my hands, but it's now strong.
You know, it was a, it was nine inches in diameter and now it's six inches in diameter. So you're also getting the shrinkflation in there as well for the surprise.
All right. So before, before we wrap up here, I want to be respectful of your time and of the audiences.
One, how much have you followed the Twitter files and how much of an impact do you think could the Twitter files be if now no mainstream left-wing media organization has, they've acted as if they don't even exist. But if you're following Barry or you're following Matt Taibbi or I think, I said someone, we got to get security on Schellenberger because the shit that he's pulling out and talking about is absolutely insane.
His conversation with Joe Rogan the other day. I mean, I don't know how, you know, not trying to push political one way or the other, but I don't know how you could possibly have faith in our government after listening to what they're finding in in these Twitter files.
Do you think these can actually have a real impact? Do you think it can wake people up and change things? Or do you think this is going to ultimately be stuffed and fade away and we're going to be a non-impact? So obviously, I'm a huge Twitter fan. I love the platform.
I'm trying to fight for it to return to some sense of normalcy. I know, I have followed the Twitter files at a very surface level, because I already knew all of this stuff.
And I know that's like kind of a lousy excuse. No, that's fine.
I've done a lot of independent research and like, oh, you know, the government's colluding with big tech. Yeah, I know.
So I've been following it at a very high level, but I think just kind of like coming out of COVID, like the more that we expose the reality of these things, the more people live through them. It's just more data points, but you know, it's always, there's always an excuse.
It's always, it's different this time, or there's always some reason if people, you know, at large, either don't want to be bothered or, you know, are too trusting or, you know, just aren't independent thinkers. And unfortunately, we have come up with the system where I think people are really afraid to be the independent thinkers and to be labeled wrong thing, which is exactly, you know, intentional because they don't want to lose their livelihood.
They don't want to lose opportunities. They don't want to have things restricted for themselves.
And so sometimes I think, you know, like don't ask questions you don't want to know the answers to. I think unfortunately a lot of people are taking that slant or just can't get out of their their their team their team mentality or their, you know, cult mentality to, to think that it's different.
I mean, you would, you would think that it would be important, but I mean, I don't, I mean, in my opinion, this makes, in my opinion, this makes Watergate look like, like a silly little thing that happened. Like when I, when you think about the breadth and depth of what they found and everything ranging from economic decisions that were made that were hidden to Hunter Biden stuff to not just not and not even just left wing stuff, just in general, just the fact that they were so willing.
I mean, COVID, the COVID stuff. I mean, there are still people walking around with masks on.
I know. At this point, you're like, that has to be an accessory, right? Like we know now that, that we just know too much.
And we know that you were completely snowballed and it was all a lie. But, but if there's, if there's no accountability, yes, there's, I mean, that this is the issue is, you know, the, the rampant moral hazard and the things that have been done in every level of government and the Fed, government adjacent, are beyond criminal.
and there's just no level of accountability. And so until we can get a group of people in

who are willing to vote on principle

instead of their own limited short-term best... just no level of accountability.
And so until we can get a group of people in who are willing to

vote on principle instead of their own limited short-term best interests and say, we need to restore accountability. And if you're going to be in these positions, we're going to hold you accountable regardless of what political party you're in, just based on specific decisions and outcomes, it ain't gonna change.
Yeah, yeah. Human nature.
The book is You Will Own Nothing, Your War with the New Financial World Order and How to Fight Back. Give us the two second elevator.
I mean, I obviously I'm a huge fan. You're a two time guest.
I'm so honored that you would come back again and spend your time with us, especially considering you were on Glenn Beck this morning. And I know my audience absolutely adored the first time you're on and loved the war on small business, which you guys can't see, but is over Carol's shoulder.
Tell us just a little bit about the book and they will have already heard how they can win a copy and we'll have all the links set up and everything too. So, but give them the pitch on the book.
Okay. So I need everybody to pre-order you will or nothing.
It's the most important thing I've ever written before. Um, and it will give you the battle plan on how to fight back.
The reality, as we've been discussing during this entire program is that there is a new financial world order. All the leaders saying it, they're telling you and what they're doing is they see it.
And so they are jockeying for control. They want to be able to control every finite resource that is available.
And when they control everything, then that leaves you owning nothing, which they've already told you is their prediction for 2030. So you need to, you know, whether it is understanding the trajectory of social credit, whether it's understanding, you know, what's happening in the financial global cycle, whether it's understanding CBDC, whether it's understanding big tech, trying to make your life a subscription service so that you literally own nothing and they're making all the money, whether it's, you know, Harvard University and big elite buying up land and water, whether it's ESG, whether it's college, all these different things that I cover, you need to understand where this is all coming from because it's not just coming in what direction, it's literally coming at you from every direction.
And then most importantly, my final chapter is own everything. It's how to fight back, how to make sure that you are owning assets and creating that wealth and preserving the American dream for you, for your family, for the people that you care about.
So I hope that you will take the time to read it and to spread the word on it. Because as I said, it will give you all of the tools you need.
And it's all the things that I have identified, as I said, multiple years ago, I've been talking about these things. And now just a handful of people are starting to catch on and Ryan appreciative of you being one of those, you know, forward thinkers that are catching on to these things.
Yeah. And I just, I think that's tremendous.
And guys, just, just, you know, some of you give me feedback when we, when we talk about some of these topics that, you know, you just, your lives are so stressful and hard enough. It's tough to think about these topics.
And what I'd like you to change that mindset to is not, this is not meant to bring you down. It's not meant for you to think that all is lost.
That's absolutely not the case. It's actually 100%.
It's 180 degrees from the case. These conversations are meant to give you power.
They're meant to remove stress. Well, I don't know about removing stress, but they're certainly meant to give you power.
They're meant to give you confidence and to find other people in your communities, in your lives, who you can, who can support each other when these things happen.

So don't allow what feels like something maybe that's out of your control.

This is in your control.

That's why Carol's here.

That's what her book is all about.

I hope you guys will pre-order it.

Actually, I don't hope.

I demand you to pre-order it if that means anything to you, being a podcast host who can't physically shake you. Carol, I wish you nothing but the best.

Thank you so much for being on and we'll talk again soon.

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