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(PART 2!) Mike Maloney Schools Bankers on Deflation, Oil Price Crash, Gold and Silver - YouTube
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this is the first time since the Great
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Depression the currency supply is
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collapsing it's collapsed by over a
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trillion dollars this is people getting
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scared and they save up and they pay
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down debt instead of borrowing more
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currency into existence each month
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they're extinguishing it by paying off
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their loans so this is the way a
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debt-based currency system works when we
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now can good movies okay you keep on
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promising to pay more debt then you're
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borrowing a new currency into existence
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and every month there's a payment due
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whether it's the bond whether it's the
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loans to you and as long as the public
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feels good and borrows more in existence
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the economy grows the banking sector
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grows people feel good but they're
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sometimes when things get bad people get
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scared and they start saving and paying
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on debt and then a debt based currency
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system can literally implode it's that
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simple it really is that simple it's
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made complex by all of these rules and
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regulations and stuff if creates a
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smokescreen so you can't really see
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what's going
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maybe that's a little overdramatic
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maybe the dollar will not implode but I
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do know this every 30 to 40 years the
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world has an entirely new monetary
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system this one is now 39 years old and
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getting older and it's developing cracks
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it's developing instabilities this is
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what you are seeing right now by the end
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of this decade the dollar as it exists
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today will no longer exist it'll either
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be a different dollar or we will have
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some sort of world currency but we will
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no longer be on the worldwide dollar
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standard this is something called a dead
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cat bounce the stock rises it crashes
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and then bounces and then the crash
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continues there's the Nasdaq this is a
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pattern called a dead cat bounce that
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crash was a 38% crash the total crash
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was 78% here's the crash in 1929 that
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caused the Great Depression same dead
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cat bounce pattern that crash was a 48%
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instead of 38 like the Nasdaq the total
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crash was 90% this is something called a
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Head & Shoulders pattern a stock Rises
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then does it fall back it rises again
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and sets a new high and then does a
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pullback the next time it rises though
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it can't exceed its previous high and
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you get a shoulder a head and a shoulder
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this is called technical analysis
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technical analysis is only right about
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55 or 60 percent of the time so that
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means it's wrong 40 to 45 percent of the
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time except this is one of the most
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reliable patterns that there is
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technicians draw a line across the
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neckline they'd invert the head and that
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is the predicted move for a stock or a
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stock market this is the Dow Jones again
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in 1929 shoulder head shoulder crash
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shoulder head shoulder crash shoulder
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head shoulder crash it's a very reliable
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pattern
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the total crowd of the first part of the
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crash was 48 percent the total crash was
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98 percent remember the Nasdaq the first
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part was 38 so the total crash was
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smaller also it was only 78 percent we
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just went through the biggest crash in
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history this is the Dow Jones Industrial
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Average in the United States there's
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never been a crash this large I gave
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this presentation in st. Petersburg and
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so this is several months old and I was
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predicting that there would be a Head
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and Shoulders pattern developing and it
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has it now looks like a head and
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shoulders and it's about to take that
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plunge I believe which would cause a
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bigger head and shoulders and further
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crash this is the best way of rating the
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value of stocks whether they're a fair
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value undervalued overvalued or in a
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bubble it's called p/e ratios I can't
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explain it because I don't have time
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professor Robert Shiller of Yale
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University took the sp500 out to the
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year 1880
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what you see is them I need to show you
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I'll I have to show you I'll so what you
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see is that it goes from overvalued to
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undervalued to over bubble undervalued
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bubble undervalued bubble it went to
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fair value and bounced its back in a
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bubble the stock markets always seek
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equilibrium it has to go down the next
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best way of measuring a stock's value is
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dividend yields and this chart is
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inverted so that bubbles are up and
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undervalued is down and you see the same
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pattern of overvalued undervalued
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overvalued undervalued and today
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measured by dividend yields we're still
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in a bigger bubble than the first
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hundred and eighteen years of data the
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stock markets have to go down this is
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the sp500 in the United States the
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British stock market the German stock
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market you see they all track each other
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except Singapore used to trade
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differently the Nikkei Japan used to
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trade differently it wouldn't always go
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up when the US stock stock market was
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good
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going up it would trade in opposite
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directions but in about the year 2000
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they all started trading the same Brazil
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just started trading with the u.s. in
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the same direction in 2008 and guess
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what
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so did Russia wherever the u.s. goes you
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go and so does the rest of the world so
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we all in up and we're all going down I
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believe because the US stock markets are
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going down
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this shows deflation this is a dead cat
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bounce pattern on soybeans this is wheat
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dead cat bounce shoulder head shoulder
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down this is corn dead cat bounce
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shoulder head shoulder I believe it's
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going down if the currency supply was
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not collapsing I'd say that this could
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be wrong but I say that there's no
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chance that this can be wrong because
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the currency supply is also contracting
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and the stock markets are in a bubble
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well look at this one crude oil see some
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patterns here shoulder head shoulder I
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believe it's going down I believe it's
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going down big you may see $10 a barrel
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crude oil this is a tonnage of Russian
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oil exports so that's the volume it
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leveled out back in 2004 you're having
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trouble increasing your volume so you
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can't increase your income by pumping
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more oil it's not going to happen this
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is crude oil prices and this is the
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value of the tonnage of oil times the
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price
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so that's Russia's income you see any
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patterns here do you see shoulder head
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shoulder do you see a dead cat bounce
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pattern I do
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this is the first oh this is the first
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ruble ruble goes back 500 years it was
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devalued ten thousand to one then one
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hundred to one then fifty thousand to
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one then ten to one ten to one and one
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thousand to one
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well we are on the seventh ruble right
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now the total devaluation the ruble has
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been devalued five quadrillion times
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this is wealth being transferred from
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the population to the government the
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world has a new monetary system every 30
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to 40 years the classical gold standard
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were every unit of currency in existence
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every dollar every British pound and so
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on
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was backed by an equivalent amount of
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gold at there at the Treasury then World
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War one came along I'm done in two
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second I'm done in five thirty seconds
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then the Gold Exchange standard then the
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Bretton Woods system where all
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currencies on the planet were backed by
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the US dollar with the exception of just
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a few but almost all currencies were
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backed by the US dollar and the dollar
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was pegged to gold at $35 an ounce and
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foreign central banks could come to the
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Federal Reserve and change those dollars
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for gold at $35 an ounce effectively
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pegging every currency on earth to gold
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through the US dollar 1971 comes along
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and basically we had printed too many
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dollars receipts for gold we didn't have
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enough gold to back it up Nixon takes us
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off of the gold standard and on that day
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August 15th 1971 all the world's
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currencies became pieces of paper with
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numbers on them and nothing more it's
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called a fiat currency it has no
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intrinsic value so 30 to 40 years 30
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years 28 years 39 years plus what's next
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the ruble has a crisis every now and
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then every currency on there on earth
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has why do you think the dollar is so
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stable why do you think the dollar isn't
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susceptible to a major currency crisis I
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believe it is I believe we're going on a
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new currency
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crisis is going to happen we're going on
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a new monetary system it's going to
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happen in this decade there's the stock
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market there's the performance of goal
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I'm going to just skip through this
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because I don't have the time I'm sorry
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this is probably the most important
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thing I wish I could teach it to you but
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I can't this is oh I see okay we should
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okay yes yeah you should be okay I'm
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done that's it I had a movie for you
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sorry you couldn't see it
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[Applause]
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our whole monetary system borrows
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prosperity from the future so that we
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can spend it today when we do a bailout
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we're borrowing more prosperity out of
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the future just to prop up these zombie
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companies and zombie banks and what that
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does is all that prosperity is owed back
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just like our entire currency supply of
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the planet is all owed back plus
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interest that means our prosperity is
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owed back plus interest yeah it felt it
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was fun to kick some ass
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you
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