🚨Get your money before it's too late 🕰️ Martin Armstrong
Résumé
TLDRIn this interview, Martin Armstrong discusses the economic challenges facing the world, emphasizing an impending global recession marked by stagflation. He attributes much of the economic decline to misguided policies in Europe, COVID-19 lockdowns, and ongoing geopolitical tensions. Armstrong warns of potential capital flight as governments may soon impose controls through digital currencies. He critiques the tariff strategies from Trump's presidency and emphasizes the historical context of economic data interpretation. Gold is viewed as a vital asset as central banks prepare for geopolitical and economic crises, further underscoring the significance of understanding the complexities of global economics.
A retenir
- 💰 Consider securing assets before digital currencies impose government controls.
- 📉 The recession began last May and may not stabilize until 2028.
- ⚖️ Gold is viewed as a safe asset during economic uncertainty.
- 🌍 Geopolitical tensions significantly impact global economies.
- 📊 Misguided Euro policies have exacerbated Europe's economic issues.
- 💸 Be aware of capital flight risks in the current financial climate.
- 🔍 Mainstream media often lacks credibility and spreads propaganda.
- 📈 Tariffs have complex implications for both local and global economies.
- ⚔️ Ongoing war mongering diverts attention from essential economic concerns.
- 🚀 Historical context is crucial to understanding current economic trends.
Chronologie
- 00:00:00 - 00:05:00
Concerns regarding the banking industry and potential capital flight are emphasized, suggesting that individuals should withdraw their funds before digital currencies are fully implemented, as this would lead to strict controls on capital.
- 00:05:00 - 00:10:00
The conversation introduces Martin Armstrong, a market forecaster who highlights the global recession beginning in May, characterized more by stagflation rather than growth, linked to poor economic decisions in Europe such as lockdowns and sanctions on Russia.
- 00:10:00 - 00:15:00
Armstrong explains that the recession will not reach its lowest point until around 2028, exacerbated by war-mongering which detracts focus from economic issues and leads to stagflation and potential civil unrest.
- 00:15:00 - 00:20:00
The host asks about the wild fluctuations in financial markets, to which Armstrong attributes much of it to media misinformation and a loss of credibility in mainstream news, coupled with political motives influencing economic narratives.
- 00:20:00 - 00:25:00
He comments on the introduction of digital currencies, suggesting that they may be instigated to combat capital flight as fears of conflicts grow, paralleling historical actions taken during previous wars to prevent capital outflow.
- 00:25:00 - 00:30:00
Armstrong discusses the implications of tariffs during Trump's presidency, illustrating that legitimate tariffs can serve as negotiation tools, while excessive ones can provoke trade wars, especially with countries like China.
- 00:30:00 - 00:35:00
Discussion continues on the potential economic ramifications of China dumping US treasuries and shifting to gold, emphasizing historical economic relationships and the misunderstanding of trade accounts by leaders and economists.
- 00:35:00 - 00:40:00
Armstrong reiterates a bleak view on government debt and fiscal policy, warning that continued borrowing without a strategy for repayment could lead to serious financial crises, echoed by European entities pushing for conflict as a distraction.
- 00:40:00 - 00:46:43
In closing, Armstrong recommends personal financial vigilance, noting urgency in securing assets, especially as governments may impose stringent controls over personal wealth in the transition to digital currencies.
Carte mentale
Vidéo Q&R
When does Martin predict the recession will gain momentum?
Martin predicts that the recession started last May and suggests it will not bottom out until about 2028.
What does Martin think about the European economic situation?
He believes Europe's handling of sanctions and energy policies has caused significant economic harm and political tension.
How does Martin view gold in the current economic climate?
He sees gold as a neutral asset that central banks are accumulating to protect against geopolitical instability.
What does Martin think about the potential for digital currencies?
He warns that digital currencies could lead to government control over personal wealth, emphasizing the need to secure assets before such measures are enforced.
How does Martin assess the current media landscape regarding financial news?
He claims mainstream media has lost credibility and often spreads propaganda instead of factual reporting.
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- 00:00:00be more concerned about the uh the
- 00:00:02banking industry
- 00:00:05um capital flights if you do want to get
- 00:00:08some money out I would do it before
- 00:00:11um it's too late uh once they do move to
- 00:00:15to uh
- 00:00:17the digital currency you got fullblown
- 00:00:21controls coming on
- 00:00:23[Music]
- 00:00:36hello and welcome to another edition of
- 00:00:38Triangle Investor Interviews i'm your
- 00:00:40host Lucian Valkovich and in today's
- 00:00:42edition we are joined by the market
- 00:00:44forecaster and founder of Armstrong
- 00:00:46Economics Mr martin Armstrong as always
- 00:00:49great to have you here Martin welcome
- 00:00:51back well thank you for inviting me it's
- 00:00:54always good to speak to everybody
- 00:00:56everywhere i mean that's important I
- 00:00:58think
- 00:01:00um you know I do podcasts in Serbia and
- 00:01:03this one's in Croatia so I mean Italy I
- 00:01:06mean all over so um Brazil
- 00:01:10you are Britain only
- 00:01:13yeah it's good to see all the how
- 00:01:16uh people think in all these different
- 00:01:18countries and and and how it's really
- 00:01:21developing anymore yeah from the
- 00:01:24different angles it's always good to
- 00:01:26hear opinions from the different angles
- 00:01:28agreed i like that as well uh Martin uh
- 00:01:31you pointed out couple of times that we
- 00:01:33are entering global recession so I want
- 00:01:36to start with that uh when do you
- 00:01:38predict that the recession could show
- 00:01:41momentum uh or start at what point the
- 00:01:45people will understand which direction
- 00:01:46we are heading
- 00:01:49well it it really started last
- 00:01:53May
- 00:01:55um but this is a different type of
- 00:01:59recession it's more like
- 00:02:01stagflation so you see the economy
- 00:02:04um is not growing but you're seeing the
- 00:02:09u inflation rising
- 00:02:12a lot of this has been because of um
- 00:02:17really stupid decisions particularly in
- 00:02:20in Europe
- 00:02:22um I mean you had the lockdowns from
- 00:02:26COVID which wiped out a lot of small
- 00:02:29businesses then you had the climate
- 00:02:32change then you throw on top of that
- 00:02:34sanctions against Russia so okay that
- 00:02:37was good so our energy costs have
- 00:02:39expanded dramatically um and when you
- 00:02:44look at it
- 00:02:46um
- 00:02:48Germany's economy has actually shrunk by
- 00:02:51at least 3% and it may even come out to
- 00:02:54closer to five uh because you wiped out
- 00:02:58a lot of the small businesses between
- 00:03:00COVID and climate change and then um you
- 00:03:04know then the sanctions against you know
- 00:03:06Russia i mean um I mean this whole idea
- 00:03:10that oh well we'll put sanctions on
- 00:03:12Russia cut off their energy sales and
- 00:03:17therefore the country will decline and
- 00:03:19and you know he just turned and sold it
- 00:03:22to India and and and China i mean so
- 00:03:25what are you doing you're just shooting
- 00:03:28yourself in the in the head for no
- 00:03:30reason you know it's u uh you
- 00:03:34know most of this is just you know
- 00:03:37propaganda primarily from Ukraine you
- 00:03:40have
- 00:03:42um you know they keep telling everybody
- 00:03:45"Oh if we fall all of Europe's going to
- 00:03:47fall." I don't think the Russian people
- 00:03:49are interested in in invading all of
- 00:03:52Europe
- 00:03:54um anymore they are going back to
- 00:03:57communism you know it it's um the
- 00:04:00average person everywhere just wants to
- 00:04:04get along you know let me feed my family
- 00:04:07take care of it they're not interested
- 00:04:08in wars and stuff like this those are
- 00:04:11always created by the uh by the elites
- 00:04:14basically
- 00:04:17um and um I mean they had even you know
- 00:04:22questioned
- 00:04:24uh you know Herman Goring at at the uh
- 00:04:28Norberg trials how would you get all the
- 00:04:31people to follow you he said "Oh that's
- 00:04:32easy just tell them they're going to be
- 00:04:35attacked." And you know and he if you
- 00:04:38read his speech that's exactly what
- 00:04:40they're doing to us today
- 00:04:43the the fear yeah it's it's it's the
- 00:04:46same thing
- 00:04:48um so you have Poland uh ordering all
- 00:04:52males to uh get military training uh
- 00:04:56teaching how to use a gun in in grade
- 00:04:58school now i mean what are you going to
- 00:05:01do send a whole bunch of 10 year olds
- 00:05:02out you know i
- 00:05:05mean it's it I mean these are the
- 00:05:08leaders that do this stuff um yeah yeah
- 00:05:12the the the the fear factor is present i
- 00:05:15agree uh just quick return to the
- 00:05:18recession so if we if you are right we
- 00:05:21really get to the recession times do you
- 00:05:24predict a long recession some form of
- 00:05:27financial and monetary reset
- 00:05:31yes i mean the recession is not going to
- 00:05:33bottom until about 2028
- 00:05:37and in part all this wararm
- 00:05:42mongering has uh basically shifted the
- 00:05:46focus to oh let's build up armies things
- 00:05:49of this nature rather than pay attention
- 00:05:51to the economy and the
- 00:05:53people so you're shifting things so
- 00:05:56that's causing also u the
- 00:06:00stagflation uh as you have these you
- 00:06:03know sanctions and things of this nature
- 00:06:06um I mean and you know moving to
- 00:06:09renewables and wind power it just
- 00:06:11doesn't work
- 00:06:14um you know
- 00:06:16um you know I live in Florida we get
- 00:06:19hurricanes and my next door neighbor has
- 00:06:21like a Tesla and I said "Well when the
- 00:06:23hurricane comes I can put your wife and
- 00:06:25the kids in my car i can tie you to the
- 00:06:28roof because your Tesla's not going to
- 00:06:30go far enough to get out of the way you
- 00:06:31know."
- 00:06:33Um so it it's we have to be practical
- 00:06:37about some of this stuff it's
- 00:06:39um I mean the first Clean Air Act was
- 00:06:43was passed you know in in I think it was
- 00:06:46in 560 AD by Justinian you know in
- 00:06:50Bzantium because back then they were
- 00:06:52used wood you know
- 00:06:55um so it's you know you've always had
- 00:06:58these things for for a long time so the
- 00:07:01recession we see is more of an economic
- 00:07:06um decline as far as economic growth is
- 00:07:09concerned but at the same time because
- 00:07:12you're shifting towards war that uh
- 00:07:16creates inflation so it ends up being
- 00:07:19more of a stagflation so economic
- 00:07:22decline but but prices are rising and
- 00:07:25then that often leads to even civil
- 00:07:28unrest
- 00:07:30yeah uh Martin how are you viewing this
- 00:07:34financial market roller coaster we have
- 00:07:36a day of 2,000 uh points down going down
- 00:07:41three 3,000 points the next day up how
- 00:07:44are you viewing this
- 00:07:46most of this is because
- 00:07:50um mainstream media has been really it
- 00:07:54is fake news
- 00:07:56uh they've they've been taken over by
- 00:07:58more or less the left and
- 00:08:03um they you know were bashing these
- 00:08:06tariffs
- 00:08:07etc
- 00:08:09um the whole tariff
- 00:08:12issue was just democratic propaganda in
- 00:08:181932 um the smooth holy tariffs came out
- 00:08:22in in June of 1930 the crash already
- 00:08:25began so no serious economist has ever
- 00:08:30uh even attempted to argue that the
- 00:08:33tariffs caused the great depression i
- 00:08:35mean that was just political rhetoric um
- 00:08:39what caused the great depression was
- 00:08:42basically
- 00:08:44um just about all of Europe defaulted on
- 00:08:48its debt britain went into a moratorum
- 00:08:50canada South America i mean that's what
- 00:08:53wiped out 9,000 banks in the United
- 00:08:56States not tariffs um
- 00:09:00but so you had the media talking about
- 00:09:04you know the tariffs and oh this is it
- 00:09:06it's going to depression etc and then
- 00:09:09they scared everybody into dumping you
- 00:09:13even have Bloomberg News which any
- 00:09:15technical
- 00:09:17analyst was just shocked by uh you know
- 00:09:21the NASDAQ you know had declined oh the
- 00:09:25NASDAQ's now in a bare market and the
- 00:09:27S&P soon to follow it didn't even take
- 00:09:30out a technical uptrend line you know
- 00:09:33why are you putting out this sort of
- 00:09:37commentary um it it it was more of it
- 00:09:42beginning to look like they were trying
- 00:09:45deliberately
- 00:09:47um just to discredit Trump on anything
- 00:09:50you know they've tried so many things
- 00:09:53you know uh signal gate and I mean and
- 00:09:57um I don't you know so well it's
- 00:09:59terrorists oh we'll beat them with that
- 00:10:01one
- 00:10:02um so that's the problem we have
- 00:10:06mainstream media has has completely lost
- 00:10:10all credibility um Gallup polls show
- 00:10:13them I think at the very bottom um and
- 00:10:18uh maybe number two from the bottom i
- 00:10:21mean it the the days of the 60s of
- 00:10:24actually believing the press and CBS
- 00:10:26news and and that's why a lot of people
- 00:10:29go to these things anymore um podcasts
- 00:10:33have become the only place to to even
- 00:10:35get you know
- 00:10:37respectable information uh that's not
- 00:10:40propaganda all the time
- 00:10:44and so I I think that's largely what
- 00:10:48you're looking at but we're not showing
- 00:10:51a uh prolonged bare market um and that's
- 00:10:55why it bounces back quickly you
- 00:10:58know the big problem you'll have is that
- 00:11:04um you know you have Europe pushing for
- 00:11:08you know digital currencies already this
- 00:11:11is for
- 00:11:12control what they're worried about is
- 00:11:15capital flight
- 00:11:18so if you look at World War I what did
- 00:11:21they do they shut down all the stock
- 00:11:23markets they don't want money to
- 00:11:27leave
- 00:11:29and so when the first bullet is shot
- 00:11:33there in Europe you're probably going to
- 00:11:35see capital controls you won't be able
- 00:11:37to get anything out uh things of that
- 00:11:39nature so
- 00:11:42um prior to that we've had you know
- 00:11:45you're seeing people moving the gold
- 00:11:47reserves
- 00:11:49uh out of London and and Switzerland to
- 00:11:52New York why because they were afraid
- 00:11:54that you know with all this wararm
- 00:11:57mongering uh I mean you have you know
- 00:12:00the the former head of you know PM of of
- 00:12:06Estonia unbelievably coming out and
- 00:12:08saying "Oh Russia's too big and it needs
- 00:12:10to be broken
- 00:12:12up." How would they respond if Putin
- 00:12:16said "Oh the Europe doesn't look like it
- 00:12:18should work and we it it should be
- 00:12:19broken up." or United States you know
- 00:12:22just put the you know the shoe on the
- 00:12:24other
- 00:12:25foot
- 00:12:27um so it you know these things are not
- 00:12:32um conducive to you know a good economy
- 00:12:37and
- 00:12:38and I've learned I look I've had dinner
- 00:12:42with some of these neocons i've looked
- 00:12:44them in the eye you do not see a warm
- 00:12:45light trust me uh they're just very evil
- 00:12:49they hateful people um
- 00:12:54and when um after 911 and Gorbachov
- 00:13:00stood up Reagan wanted to go meet with
- 00:13:02them i was in Washington they couldn't
- 00:13:05say he was a communist anymore so they
- 00:13:09said "Oh you can never trust a
- 00:13:11Russian." And he rejected it and went
- 00:13:15and met and otherwise the Berlin Wall
- 00:13:17wouldn't have fallen all right um but
- 00:13:21their number one rule and you if you
- 00:13:25look at it objectively you can see it
- 00:13:28throughout Europe the first thing they
- 00:13:31say never talk to your opponent why
- 00:13:35because there might be a peace in the
- 00:13:38negotiation you know um if they prevent
- 00:13:41people from
- 00:13:43talking then you hear just one side of
- 00:13:46the propaganda
- 00:13:49and
- 00:13:50um you know it's it's like the two of us
- 00:13:53are in a bar and I decide I'm going to
- 00:13:55punch you in the face well why because
- 00:13:58well I knew you really wanted to punch
- 00:14:01me well who threw the first you know no
- 00:14:05it's really self-defense because I knew
- 00:14:06you wanted to hit me
- 00:14:08you know um I mean this is the the
- 00:14:12nonsense that we're into anymore um and
- 00:14:15you won't negotiate we won't talk
- 00:14:19um you had uh amazingly Merkel there was
- 00:14:25the mince agreement that was supposed to
- 00:14:27allow the Donbas to vote and separate um
- 00:14:32I mean you're there in Croatia i mean
- 00:14:35the the end solution to the break up of
- 00:14:38Yugoslavia was everybody broke up
- 00:14:41according to ethnic lines
- 00:14:44uh that's what should have happened in
- 00:14:47Ukraine um
- 00:14:49and so you had Merkel and France i mean
- 00:14:53they negotiated the mint agreement and
- 00:14:56then when
- 00:14:59um she actually publicly
- 00:15:02admitted which was shocking even to me
- 00:15:05that they never really intended to honor
- 00:15:08the peace agreement it was just to allow
- 00:15:10Ukraine to build an army so why would
- 00:15:13somebody negotiate with you
- 00:15:15again that's why Trump said "No you
- 00:15:18can't be at the table." Oh this is
- 00:15:20outrageous europe should be at the table
- 00:15:23you lied the last
- 00:15:25time should anybody trust you ever again
- 00:15:30um you know
- 00:15:32it's you know this and honestly on from
- 00:15:36Putin's
- 00:15:37side I would be cautious about a peace
- 00:15:40deal because this is are you going to do
- 00:15:42the same thing i agree to peace well you
- 00:15:45build up all your armies and then you
- 00:15:48know that's what you did in
- 00:15:50Ukraine uh and you have the head of
- 00:15:53Poland telling all males to show up for
- 00:15:56military training and teaching how to
- 00:15:58use guns in grade school now I mean this
- 00:16:02doesn't sound like somebody who wants
- 00:16:03peace
- 00:16:05yeah very interesting take on a lot of
- 00:16:08topics you covered over here uh quick
- 00:16:12return to
- 00:16:13the to to Trump's tariffs uh how are you
- 00:16:18viewing actually his presidency so far
- 00:16:21is this uh are the tariffs just a part
- 00:16:25of a bigger geopolitical plan and being
- 00:16:28used as a tool in a global economic
- 00:16:30chess match not as a suic suicidal
- 00:16:33policy mistake
- 00:16:35yes that that was the case look a 10%
- 00:16:39tariff is a legitimate economic tariff
- 00:16:43when you start going 20 30 40% stuff
- 00:16:46like that that's political it's to
- 00:16:49promote
- 00:16:52negotiation i think that has worked
- 00:16:56um to a large extent in the Middle East
- 00:16:59in Europe and
- 00:17:00Canada not with
- 00:17:03China you know um I disagree with Trump
- 00:17:06on that i think he doesn't understand
- 00:17:09Asian culture is
- 00:17:11different uh you want to do something
- 00:17:14like that you pick up the phone and you
- 00:17:15talk privately
- 00:17:17you don't do it
- 00:17:19publicly when you do it publicly that's
- 00:17:21like slapping somebody in the face
- 00:17:24now China cannot back down
- 00:17:29um because then it makes their leaders
- 00:17:31look
- 00:17:32weak you know and
- 00:17:36um I you know as far as the trade war
- 00:17:40with
- 00:17:43China I would say that you're looking at
- 00:17:46that is a real trade war now and it it
- 00:17:50will escalate i think that you're going
- 00:17:53to see I mean if China wants to put on
- 00:17:56the maximum you know
- 00:17:59um it it has banned rare earths to
- 00:18:03shipping to United States I think it bas
- 00:18:06you know you know what's next it should
- 00:18:08do medicine that will really drive
- 00:18:11everybody crazy yes meanwhile you have
- 00:18:14the EU um cozying up to China
- 00:18:21um So I I don't think that
- 00:18:26uh this is
- 00:18:27is with what he did to China i disagree
- 00:18:32with it should have been basically a
- 00:18:34private phone call um you can't you know
- 00:18:39what you can do with Canada and Europe
- 00:18:41is one thing um you know it's like I
- 00:18:44want $100 no I'll give you 50 all right
- 00:18:47get 75
- 00:18:49you know that's not the way it is in
- 00:18:51Asia
- 00:18:53yeah uh China could actually crash the
- 00:18:56US dollar by dumping uh US treasuries in
- 00:19:00replacing its central bank reserves with
- 00:19:03gold do you see that scenario well look
- 00:19:06they they it wouldn't crash the dollar
- 00:19:10they they have about 10%
- 00:19:14uh of the US national debt but they've
- 00:19:17been selling that off for a couple years
- 00:19:19now
- 00:19:21um the reason they're going to gold and
- 00:19:24a lot of these you know gold bugs etc
- 00:19:27get it wrong oh they they're not buying
- 00:19:29because they think it's going up um
- 00:19:32they're buying m mainly because it's
- 00:19:35neutral all right you know
- 00:19:39um they had US
- 00:19:42dollars because you have to sell your
- 00:19:46products in the United States in dollars
- 00:19:49so you take the dollars back so what do
- 00:19:51you do with them all right um most
- 00:19:55people don't realize how these trade
- 00:19:57statistics actually work uh and I'm not
- 00:20:01even sure Trump does um you have a
- 00:20:05capital account and you have a current
- 00:20:07account the current account is what
- 00:20:09people refer to as the trade
- 00:20:12account the capital account is all right
- 00:20:15so uh China buys US debt so that goes
- 00:20:20through the capital account all right
- 00:20:23it's a capital investment however all
- 00:20:26interest dividends and things of that
- 00:20:29nature that you earn on a US investment
- 00:20:32goes to the current account so it makes
- 00:20:34a trade deficit look bigger when it's
- 00:20:37got nothing to do with
- 00:20:39goods um
- 00:20:42and I was helping the Japanese reduce
- 00:20:46the trade surplus that was fictional
- 00:20:48back then we were uh I had had them
- 00:20:51buying gold in New York uh shipping it
- 00:20:54to London selling it there so as long as
- 00:20:56it was whatever it is didn't matter
- 00:20:59you're buying something in New York and
- 00:21:01you're exporting it out it reduces you
- 00:21:04know the trade deficit all right um it
- 00:21:08was just gold you know it wasn't you
- 00:21:10know manufactured products or something
- 00:21:13this is the problem all these
- 00:21:16um trade numbers there's nobody actually
- 00:21:19at the dock counting the number of
- 00:21:22Toyotas in or BMWs or something like
- 00:21:25that it's just cash flows that's
- 00:21:28it so it you know
- 00:21:31it like I said if if they bought you
- 00:21:35know all the US national debt and then
- 00:21:37$1 trillion dollars in interest had to
- 00:21:40be paid to them that would go through
- 00:21:41the current account and you go "Oh my
- 00:21:43god we have a trillion dollar deficit."
- 00:21:46You know it's got nothing to do with
- 00:21:47trade it's it's it's you know income off
- 00:21:51of interest and dividends go through
- 00:21:53there so I mean I say I I'm not sure a
- 00:21:56lot of world leaders even understand
- 00:21:58this um yeah last time you were in my
- 00:22:02show you said uh that people were
- 00:22:04optimistic when Donald Trump was elected
- 00:22:06and that he will drain the swamp and
- 00:22:09clean things up and you said one great
- 00:22:11thing it's not a and I quote you it's
- 00:22:14not a swamp it's an ocean i remember
- 00:22:17that uh do you believe that there is
- 00:22:20absolutely no chance that President
- 00:22:22Trump could turn things around for a
- 00:22:25better tomorrow
- 00:22:28um well his uh operation Doge is is
- 00:22:34doing that this time where he it
- 00:22:39um the first time
- 00:22:42in it was the deep state that that
- 00:22:45picked his cabinet and everybody was
- 00:22:48stabbing him in the back this time he
- 00:22:51picked his cabinet before he even got to
- 00:22:53Washington mhm that was very significant
- 00:22:57political move all right i'm not You're
- 00:23:01not going to do this to me
- 00:23:03again all right so you know and you see
- 00:23:06them all freaking out you know oh Elon
- 00:23:09Musk and look
- 00:23:12um you need somebody like Elon Musk to
- 00:23:14come in why because somebody within the
- 00:23:17the government is never going to audit
- 00:23:20themselves
- 00:23:22um I mean if you go to a bank for a loan
- 00:23:26you say "Okay fine where's your
- 00:23:28financial papers?" Well here I did them
- 00:23:30that's not
- 00:23:32acceptable uh here I say I made this
- 00:23:35much well you know I need an accountant
- 00:23:38to do that you know it's you know but
- 00:23:41this has been the problem i mean you've
- 00:23:45had numerous stories coming out about
- 00:23:48like the Pentagon missing you know one
- 00:23:51two trillion dollars and nobody knows
- 00:23:53where it went how and they you know
- 00:23:57internally they cannot audit
- 00:24:00themselves they're paid you know to look
- 00:24:02the other way i mean you know corruption
- 00:24:04is is pervasive everywhere
- 00:24:08uh in in any government it's it's this
- 00:24:11is just the way it is um so I think
- 00:24:15Trump
- 00:24:16is doing his best to reduce the
- 00:24:20corruption in Washington i think he's
- 00:24:22made a mistake with the tariffs on
- 00:24:26China so I'll give him credit for what
- 00:24:29he's done correctly and I I got to say
- 00:24:31you know what he's done incorrectly
- 00:24:34um you know I you know it's it's I'm not
- 00:24:38partisan that way so Sure um we just
- 00:24:41have to look at the economics and what's
- 00:24:43good or what's bad that's it um without
- 00:24:46all the propaganda yeah uh you mentioned
- 00:24:50very interesting thing uh when you
- 00:24:52talked about Europe about digital
- 00:24:54currency uh Martin do you see any form
- 00:24:58of global cancelling paper currencies
- 00:25:01and imposing digital currency with
- 00:25:04strict government control
- 00:25:07um Europe is moving in that way because
- 00:25:09they have a debt
- 00:25:11crisis the main reason they are looking
- 00:25:14for war with
- 00:25:16Russia
- 00:25:19is the euro was um was not designed
- 00:25:24correctly um as you know when they were
- 00:25:27forming it they came to me i sat down
- 00:25:29and said okay fine this is how we create
- 00:25:32a currency
- 00:25:33and you the the critical thing to
- 00:25:37compete against the dollar was you had
- 00:25:40to consolidate all the debts of the
- 00:25:42member
- 00:25:43states and Hermit Cole of Germany
- 00:25:47um wouldn't allow the German people to
- 00:25:49vote because he he knew that he would he
- 00:25:52before he died he even admitted that he
- 00:25:54would have lost seven to three so he
- 00:25:57took Germany into the Euro uh himself
- 00:26:01with no public vote
- 00:26:04and his criteria was no consolidation of
- 00:26:07the debt and I warned him in 98 i said
- 00:26:10"This is not going to you know survive
- 00:26:13i'm telling you and you're certainly not
- 00:26:15going to all all the promises that they
- 00:26:18made were all all just fictional lies um
- 00:26:21everybody paying me the same interest
- 00:26:23rate." All this um and we just seen you
- 00:26:27know oh don't worry about
- 00:26:30authoritarianism because nothing can
- 00:26:33pass without a unanimous vote then
- 00:26:35Hungary says I don't want to give money
- 00:26:37to Ukraine well they changed that rule
- 00:26:40it's no longer needed to be unanimous
- 00:26:43yeah
- 00:26:44um they've lied about absolutely
- 00:26:47everything now from a um an an investor
- 00:26:52standpoint if I had a a portfolio of10
- 00:26:56billion dollars I could pick up the
- 00:26:58phone and say "Buy me $10 billion of US
- 00:27:01treasuries." No
- 00:27:02problem i can't do that with Europe i
- 00:27:06still have to decide do I want French do
- 00:27:08I want German you know you have to still
- 00:27:11pick and choose so all they did was
- 00:27:14transfer the volatility of currencies to
- 00:27:17the bond markets
- 00:27:19um and I warned them this is what would
- 00:27:22happen why because if you look at the
- 00:27:25United States the single interest rate
- 00:27:27only applies federally you get 50 states
- 00:27:30and they all pay different interest
- 00:27:32rates based upon their credit rating
- 00:27:34simple as that i mean that's just you
- 00:27:36know not being clairvoyant that it's
- 00:27:39just the way economics works um and they
- 00:27:43told me in
- 00:27:4598 they just had to get the euro in and
- 00:27:48they'll worry about the debts later well
- 00:27:51now the debt is is coming to a real
- 00:27:55crisis level and the problem that Europe
- 00:28:01has that's different than the United
- 00:28:03States
- 00:28:05um if California went bust it doesn't
- 00:28:08affect the federal government
- 00:28:10all
- 00:28:11right in Europe because you never
- 00:28:14consolidated the debts we saw what
- 00:28:16happened in 2010 with
- 00:28:19Greece greece got into a debt
- 00:28:21crisis what happened the traders go
- 00:28:24"Okay who's next?" Oh Spain uh so one
- 00:28:29country can set off a contagion in all
- 00:28:32of them
- 00:28:34uh which is
- 00:28:37not this is why you know they didn't
- 00:28:40consolidate the debt they understood
- 00:28:43what I
- 00:28:44said but to get Germany in they had to
- 00:28:48compromise with with
- 00:28:51coal and here we are 2025 and they still
- 00:28:55haven't revisited the debt issue in
- 00:28:57since 98
- 00:29:00yeah uh Martin let's touch a bit on gold
- 00:29:03uh do you why why do you think that
- 00:29:07banks are still very aggressive on
- 00:29:09buying gold what message are they
- 00:29:12sending
- 00:29:14mainly that's a message about war
- 00:29:18um gold does not really go up with
- 00:29:21inflation i mean that's just a sales
- 00:29:24pitch um
- 00:29:26gold peaked in 1980 at 8
- 00:29:30$875 went down for 19 years you know um
- 00:29:35US national debt inflation went up you
- 00:29:39know it goes up during geopolitical
- 00:29:42crisis and that's what we're at now
- 00:29:46uh the sanction on on Russia was the
- 00:29:50stupidest thing I've ever
- 00:29:52seen because what happened
- 00:29:56um threatening you know taking Russia
- 00:30:00out of the Swift
- 00:30:01system and then you had them threatening
- 00:30:04China oh if you help them we we can do
- 00:30:07the same to you so they created
- 00:30:10bricks
- 00:30:12okay this is what you want so they we
- 00:30:15now have divided the world economy in
- 00:30:19two
- 00:30:21so if we you know go to
- 00:30:27war they default on debts that's
- 00:30:30standard so if China had 10% of US
- 00:30:33national debt for argument sake and we
- 00:30:36went to war with China you think they're
- 00:30:38going to pay it of course not all right
- 00:30:41so this is why you're seeing the central
- 00:30:44banks moving to
- 00:30:47gold so it's not oh US okay fine they
- 00:30:51don't want to buy euro debt
- 00:30:53either japan dumped like 50 billion euro
- 00:30:57debt you know and you know a couple
- 00:30:59months ago i mean you know Europe goes
- 00:31:02into into war they're not going to
- 00:31:06pay you know just look at Ukraine it had
- 00:31:08debt it it suspended all its debt it
- 00:31:11hasn't paid any anything on its debt
- 00:31:13despite all the money it gets from the
- 00:31:15United
- 00:31:16States
- 00:31:18um
- 00:31:19so this is what happens you know and so
- 00:31:23they go to gold mainly because it's
- 00:31:27neutral
- 00:31:29um you can't default on it it it's it's
- 00:31:33not a question of oh we think it's going
- 00:31:35to go from 3,000 to 4,000 they're not
- 00:31:37they're not investors um I mean I talked
- 00:31:41to a lot of central banks and I can tell
- 00:31:43you if it went down to 2,000 it doesn't
- 00:31:45mean they're going to sell all right um
- 00:31:50that's it's just parking money yeah what
- 00:31:54about the retail gold the smalls man
- 00:31:56gold do you see a scenario of gold
- 00:31:59confiscation from the governments or or
- 00:32:02gold taxation for gold becoming
- 00:32:04impossible to hold by the retail or very
- 00:32:08hard
- 00:32:09yeah look in in Europe
- 00:32:13um it's different in United
- 00:32:16States in a lot of the states there's no
- 00:32:19sales tax on precious metals like I'm
- 00:32:22here in Florida you can buy gold or
- 00:32:23silver no tax on it you try and buy
- 00:32:26silver bars in London there's a 20% VAT
- 00:32:29tax um so
- 00:32:33um the biggest problem with I would say
- 00:32:38the retail side is that
- 00:32:43um if you wanted to leave the country
- 00:32:46can you take it with
- 00:32:47you uh in in Italy if you looks like you
- 00:32:51have too much gold jewelry on they take
- 00:32:52it off and they weigh it
- 00:32:56um so it's it's again the governments
- 00:33:01understand this is money and they don't
- 00:33:05want money to leave so you know I would
- 00:33:09not you know if you can
- 00:33:13possibly buy gold in the United States
- 00:33:16and leave it over here that I would do
- 00:33:19because the problem is you may not be
- 00:33:22able to get out with it that that's the
- 00:33:24real problem when
- 00:33:27uh in the United States
- 00:33:31they they were they didn't confiscate
- 00:33:34gold from
- 00:33:36individuals that they couldn't
- 00:33:39do what they did was they confiscated
- 00:33:42the gold from the
- 00:33:43banks all right uh even the Federal
- 00:33:46Reserve people don't realize the Fed had
- 00:33:48to turn over its gold to the Treasury
- 00:33:51um
- 00:33:53and basically what that was about was
- 00:33:57simply you need a license if you don't
- 00:34:00do it we cancel your license
- 00:34:03um so it's it's more of a regulatory
- 00:34:06type threat um
- 00:34:09and I mean there is no actual attempt to
- 00:34:14confiscate it that way mhm um and the
- 00:34:18reason US can't do the digital currency
- 00:34:21and Trump came out and said no there
- 00:34:23won't be one is because constitutionally
- 00:34:27it's impossible in the United
- 00:34:30States the we have the fourth amendment
- 00:34:34which is u against search and
- 00:34:37seizure so the Fed has come out and said
- 00:34:40no we can't do this because they
- 00:34:43couldn't possibly look at your account
- 00:34:45they would need a court order to do so
- 00:34:48um so that's why you see individual
- 00:34:52banks trying to create them all right
- 00:34:55but not the Federal
- 00:34:57Reserve uh so I don't see this digital
- 00:35:02currency as
- 00:35:05um replacing you know all paper money
- 00:35:08globally mhm um look Swiss has you know
- 00:35:13canceled all its its
- 00:35:15currency they people used to hold the
- 00:35:18thousand uh Swiss Frank
- 00:35:21notes gone um the
- 00:35:25dollar you know almost 70% of the
- 00:35:28dollars circulate outside the country
- 00:35:31why because the US has never cancelled
- 00:35:34its currency
- 00:35:36um if you have a you know a $5 bill from
- 00:35:401861 is still legal although it's
- 00:35:43probably worth a hell of a lot more to a
- 00:35:46collector um but Europe is routinely
- 00:35:50cancelled currencies all the time and
- 00:35:53that's you know purposely designed for
- 00:35:56taxes that maybe you have you know a few
- 00:36:00hundred,000 euros stashed away in a
- 00:36:02safety deposit box sort of thing yeah
- 00:36:05and you have to come out and exchange it
- 00:36:08oh where'd you get this did you pay
- 00:36:10taxes on it you know this is what they
- 00:36:12pull off um France even you know cancel
- 00:36:16the you know 10 frank coins even i mean
- 00:36:19it it was just they go crazy with this
- 00:36:21stuff so that's why the euro is not
- 00:36:26um really a reserve currency
- 00:36:30internationally and neither is the Swiss
- 00:36:32Frank now uh
- 00:36:36so you know you can't cancel the
- 00:36:38currency like this and expect people to
- 00:36:40have confidence in it yeah uh what about
- 00:36:43silver do you see silver in some mix uh
- 00:36:47of becoming more monetary asset it it is
- 00:36:51considered as a monetary asset but among
- 00:36:53the retail maybe not among the bigger
- 00:36:56systems or countries do you see that
- 00:36:59happening
- 00:37:01yes i look there there's always a black
- 00:37:06market throughout history doesn't matter
- 00:37:08what government you're talking about if
- 00:37:11they move to digital currencies and try
- 00:37:14and eliminate cash
- 00:37:16um the black market will be uh small
- 00:37:19denominations probably old silver coins
- 00:37:22things of this nature
- 00:37:25um and maybe gold for the larger
- 00:37:28transactions
- 00:37:31uh and that's the way it it basically
- 00:37:34you know will always develop no matter
- 00:37:36what they they try to do um but I mean
- 00:37:41the people have to understand like the
- 00:37:45why did a German hyperinflation take
- 00:37:49place it's not because they printed
- 00:37:52money that was the result of what
- 00:37:57happened in December
- 00:37:5922 and you can buy these bonds on eBay
- 00:38:02uh they confiscated 10% of everybody's
- 00:38:05assets and they handed him a
- 00:38:08bond once they did
- 00:38:11that people moved money out of the
- 00:38:13country that's why in 1933 uh Hitler
- 00:38:17made it illegal for a German to have an
- 00:38:20offshore account he was trying to bring
- 00:38:21all the money home all right uh that's
- 00:38:24why they uh went through hyperinflation
- 00:38:29these people lost confidence in the
- 00:38:31government they wouldn't accept the
- 00:38:32currency anymore and they transferred
- 00:38:35their assets into everything other than
- 00:38:37German marks um and that's why Hitler
- 00:38:41responded in 33 to outlawing um foreign
- 00:38:45accounts and that's why Switzerland in
- 00:38:471934 created numbered accounts to
- 00:38:51protect all the foreign accounts that
- 00:38:52were there
- 00:38:53um so you know look this is what will
- 00:38:57happen once you have you lose the
- 00:39:00confidence the capital flees and that's
- 00:39:04always
- 00:39:06what you know I don't care what century
- 00:39:08you look at it's always the same thing I
- 00:39:11mean history repeats because human
- 00:39:14nature does not change
- 00:39:17politics change you know the events
- 00:39:19change but we respond to similar events
- 00:39:22the same way all time yeah agreed uh
- 00:39:26Martin last last question uh what
- 00:39:29sectors do you see as a ticking bomb i
- 00:39:32mean that could fast track us to
- 00:39:35financial reset or a stock market crash
- 00:39:37do you see that uh in a banking sector
- 00:39:40real estate sector some other sectors
- 00:39:45um well the big problem that I see
- 00:39:51um is mostly in
- 00:39:54Europe
- 00:39:57um this pressure for war is quite
- 00:40:01astonishing
- 00:40:03um if you look at Switzerland and Sweden
- 00:40:08both were neutral during World War I and
- 00:40:12two so their countries were spared the
- 00:40:15people you know they weren't bombed uh
- 00:40:18and the the value of their
- 00:40:21currency
- 00:40:23continued both have surrendered that
- 00:40:27neutrality today
- 00:40:29um Switzerland u was confiscating I
- 00:40:34think it was over eight billion dollars
- 00:40:35of of Russian any Russian accounts uh
- 00:40:39you also had Sweden joining NATO you
- 00:40:42what happened to the
- 00:40:43neutrality you know they they've
- 00:40:45completely
- 00:40:47flipped
- 00:40:49so I think that's the problem you see
- 00:40:52with the pushing for digital currency
- 00:40:55there in Europe and be careful about the
- 00:40:57banking system
- 00:40:59um
- 00:41:02and the the way
- 00:41:04these debt sovereign debt crisis take
- 00:41:08place
- 00:41:12um all all
- 00:41:16governments they keep borrowing money
- 00:41:18year after year they have no intention
- 00:41:21of paying anything
- 00:41:22off um so why are we borrowing
- 00:41:26uh you know it's it's like well I don't
- 00:41:28know that's what we always did you know
- 00:41:29it it's there's nobody there with a
- 00:41:32light on anymore really
- 00:41:36so historically what happens is when
- 00:41:41you're in a Ponzi scheme you have to
- 00:41:43sell the new debt to pay off the
- 00:41:47old crisis comes when you nobody's
- 00:41:50willing to buy the new
- 00:41:53debt and That's where the war comes
- 00:41:59in if you keep beating these war
- 00:42:02drums and
- 00:42:07um then you know people are going to be
- 00:42:09cautious and not going to buy the debt
- 00:42:11you don't buy the debt you basically
- 00:42:14can't pay off the old debt you get into
- 00:42:16a sovereign crisis and this is why they
- 00:42:18need
- 00:42:19war they need a distraction
- 00:42:25um you know the tariffs in Canada uh a
- 00:42:29lot of Canadians that I've spoken to
- 00:42:31they said we should thank Trump because
- 00:42:34they didn't even know that each province
- 00:42:36acts like its own country and puts
- 00:42:39tariffs on each other which would be
- 00:42:42totally illegal in the United States all
- 00:42:44right
- 00:42:45um that would be like France putting
- 00:42:48tariffs on Germany you know it's it's
- 00:42:50uh
- 00:42:53uh you know you know that's what you
- 00:42:56know the problem was in Canada uh you
- 00:42:59had some tariffs like in Quebec
- 00:43:02agricultural against American a products
- 00:43:06of 250%
- 00:43:11um so I mean I think you know Europe is
- 00:43:14still much more
- 00:43:18uh on the socialistic Marxist
- 00:43:21agenda and and these things don't work
- 00:43:26um there was an economist from the 19th
- 00:43:30century that nobody seems to listen to
- 00:43:33was David Ricardo and he came up with
- 00:43:37his observation it's called comparative
- 00:43:41advantage you don't try and grow a head
- 00:43:43of lettuce in Saudi Arabia it's going to
- 00:43:45cost you $10 to import water you know
- 00:43:49fine you can grow it all right when you
- 00:43:51can buy it for 50 cents from somebody
- 00:43:53else
- 00:43:54um and so if you're putting on a
- 00:43:59tariff to protect a job then maybe
- 00:44:02you're overpaying that person for that
- 00:44:04job maybe you should just get a
- 00:44:06different job because at the same time
- 00:44:09what you're doing is you're raising the
- 00:44:11cost of living to everybody else
- 00:44:15um you know Europe got into the tariff
- 00:44:18thing after uh mainly after World War I
- 00:44:25um even sugar
- 00:44:28uh refining and everything took place in
- 00:44:31Europe uh Britain was the financial
- 00:44:34capital of the
- 00:44:37world running around with World War I
- 00:44:41what happened they lost
- 00:44:43everything sugar production went off to
- 00:44:45the Caribbean etc so then they put in
- 00:44:47extremely high tariffs and raised them
- 00:44:5033 times after World War I before
- 00:44:561929 why because they were trying to
- 00:45:00protect
- 00:45:02uh
- 00:45:03local operations to
- 00:45:07restart so it wasn't so much the
- 00:45:11um oh his price is cheaper than ours
- 00:45:13they were really trying to restart from
- 00:45:15from scratch and that's where all the
- 00:45:18tariffs came in and that's what smoothie
- 00:45:20from the great depression in the United
- 00:45:22States it was a response to that
- 00:45:25um so we have to understand you know
- 00:45:28it's
- 00:45:30um when you do put on the tariffs you
- 00:45:34are basically supporting u somebody
- 00:45:37getting paid more than maybe they should
- 00:45:39um and it reduces everybody else's
- 00:45:42standard of having
- 00:45:45so I'd be be more concerned about the uh
- 00:45:48the banking
- 00:45:49industry um capital flights if you do
- 00:45:54want to get some money out I would do it
- 00:45:55before
- 00:45:57um it's too late uh once they do move to
- 00:46:01uh
- 00:46:03the digital currency you got fullblown
- 00:46:07controls coming on
- 00:46:09so we should get our money before it's
- 00:46:11too late right i would think so yes and
- 00:46:14you may not be able to get on a plane
- 00:46:16with gold anymore
- 00:46:18yeah uh that was Martin Armstrong martin
- 00:46:22great chat and learning session for me
- 00:46:25as always uh with you thank you very
- 00:46:27much for coming to my show well thank
- 00:46:30you um take care there in Croatia it's a
- 00:46:34an interesting area
- Recession
- Stagflation
- Gold
- Digital Currency
- Capital Flight
- European Economy
- Political Tension
- Tariffs
- Media Credibility
- Economic Policies