oldradioeconomy

I wanted to share some insights that I've had into illegal immigration now this is not a topic that I get into a lot but uh I've got a personal story to share that might give you another angle on what's actually happening here so a couple days ago one of my employees came to me and said that one of their family members was just about ready to cross the Darion Gap now for those of you who don't know what this is this is that piece of land right between Colombia and Panama I believe it's part of Panama and there's no roads there's no highways there's nothing it's it's considered one of the most dangerous jungles on the planet Earth and in order to get through you have to have like a tour guide and it's it's quite extensive but uh as a lot of you know I've got employees that work for me here in Columbia that fled Venezuela the fight the hyperinflation and uh this employee of mine who had this family member that was crossing the Darien Gap there Venezuelan so we got to talking about this and I said what on Earth would motivate anyone to do this and they're like well this it's a young gal she's probably I don't know 20 years old something like that so she saved up like a thousand dollars and this is what it's costing her to to go so she's literally got to take a bus up North Columbia and then once she gets there she's hired like some sort of boat driver to take I guess she's part of a large group that's going to the closest point so they'll have to go through the Jungle the least amount and this is costing her let's say 75 or something like that and then she pays the tour guide to go through the jungle and then they they're objective of course is to get to the U.S border and across illegally into the United States and I I'm I was just taken back and I'm like why on Earth would anyone do this and you would say well George isn't it obvious they want a better life in the United States they want to make a lot more money now look these people they have zero skill they don't speak English now they're hard working granted but they don't have a skill set to even do a very basic job other than maybe housekeeping uh in the United States and you have to look at all the homeless people that we have now in the United States at least they speak English and if they're out on the streets I know a lot of it has to do with mental health issues and drug addiction but if they're out on the street what makes you believe that you're going to be able to go out there and just strike it rich and send all this money back to Mexico Venezuela Colombia wherever and by the way for those of you who haven't been to Columbia you might look at it as some sort of third world country where there's no opportunity for people to climb up the ladder and improve their lot in life that is not true that is the furthest thing from the truth in fact I would argue for people with very low skill sets that are trying to improve those skills but at the same time kind of work their way up the ladder and make more and more money you've got way more opportunity here in Colombia in Medellin or specifically than you would in the United States especially if you don't speak English so the bottom line here is all of these immigrant not not all but this uh person would fall into this category where they just go online and they see the average wage in the United States and their eyes get big and they say holy cow they look at the average wage and say oh my gosh 28 dollars an hour whoa and they calculate how many pesos that would be and they're just their their mind is blown like oh my gosh if I could at least if I could somehow just illegally cross that border I I'd be rich oh my gosh I could send all this money back and my goodness I'd make twenty thousand dollars a year and that's an astronomical number for them I mean to them that's like striking it rich unfortunately these people aren't sophisticated enough to do the math on the expense side of the equation what they don't realize is that when you account for everything being exponentially more expensive they actually have less purchasing power getting into the United States illegally than they would have here but they it's much easier for them to get a job here so they're going to all of this trouble and paying all you know taking their life savings and taking all this risk a lot of people die on this trip for heaven's sakes and then getting across the border illegally and doing all these things so most of the people it sounds like they fall into one of two categories either either like they I said they think that they're going to just get immediately Rich because they look at the average wage and they don't understand that the cost of living is 10 times hi

They might have, you know, made a few comments on social networks, gotten a bad rating or two, and they can't have access to their own money. That's what the BRICS have told China. Don't bring that into the BRICS. Okay, you asked the question, I didn't give a full answer. You asked, how long can this go? When it becomes well recognized that the United States government is monetizing their own debt. It's like T minus 90 days, T minus three months, T minus 100 days, not much more. You cannot monetize your debt. And furthermore, you cannot monetize the debt for the global currency bond. You can't do that. You cannot monetize the debt for the United States. You cannot monetize the issuance of the treasury bond. It's being dumped around the world. They set a record in June. They're going to set more records. It's going to be tens of billions per month. Okay. We have got a gigantic problem and it's not going to go away. It's just going to get worse and worse and worse. And eventually it'll get a little turbo charge from the dissolution, liquidation and selling dumping of the derivatives. And that's three quarters bond and one quarter crude oil, the petrodollar and the dumping of like $200 trillion worth of petrodollar derivatives. That is going to, when it gets really going, you're going to see a big run in silver because it's all locked in at a 30 to one ratio from 50 years ago. The petrodollar derivative has gold and silver together, has oil and has the dollar. Most people don't know that you've got precious metals in the petrodollar derivative. It's the only place where it is. The derivatives are a vaporous foundation to the global dollar financial structure and economy. So that's going to be the real gasoline then in essence, right? The liquidation of the derivatives, the turbo charge I call it because you're going to have an assent. Now here's an analogy. This is kind of funny. Imagine you have an assent and you keep on rising and rising until you run out of oxygen. Well, when is that? Well, when you get to the stratosphere or when is that? Oh, when you're, I don't know, like eight, 10, 12 miles up. When you can no longer do anything with the dollar. In essence, when it becomes irrelevant, that's really the longterm game here. It's not going to be used in trade settlement. There's no buying of the treasury bond as debt security. It's, I say, you know, here's another interpretation of the bricks and I'm glad I remember this because the bricks are really focused on de-dollarized. Now the Russians are using the ruble in former Soviet republics. The Chinese are using the Yuan in the Pacific rim and the person go, which means Europe too is going to use the Yuan. They don't want the Yuan being used for government securities in their banking system. The Chinese do not want that in European banks. So the purpose is to de-dollarize and when they de-dollarize, they're not going to be buying the treasury bond, nor will their clients for oil and, and, you know, Chinese motorcycles and computer parts and whatever. It's not just the producers. It's their clients are not going to be buying the treasury bonds. This is going to go universal. And that takes the rug out from under the dollar. The foundation of the dollar is the treasury bond. Remember the upside down pyramid, that at the bottom at the foundation, it's going to result in a crash of the dollar while it goes up. Not down up. It's crazy paradoxical. Yeah. But you got to remember the foreign currencies have a treasury bond as the foundation. Just keep that in mind. Absolutely. Absolutely. Well, let me just, let me just condense my question on China because we are limited on time. You've talked about, I think you call that the TPX triumvirate if I remember correct. Last time we spoke about China, but you've also said it's an enigma within an enigma within an enigma. And I completely agree. China is really hard to figure out. Do you think that president G is a white hat? What is your opinion? Because the way that the CCP is acting and he's at the helm of it, one would think that they're trying to push this whole social credit Rockefeller UN system, but I happen to think it's much more complex. I'm curious to hear your thoughts though.

important mega-forecasts related to the degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

Jim Rickards on Fed policy, why it will fail, why supply chain disruption’s getting worse, Ukraine sanctions, and why food shortages are next.

Jim Rickards on Fed policy, why it will fail, why supply chain disruption’s getting worse, Ukraine sanctions, and why food shortages are next.

mega-forecasts related to the degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

mega-forecasts related to the degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

mega-forecasts related to the degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

degradation and destruction of the global financial system, the diverse forecasts range from the housing bust in 2007, the mortgage bond bust that followed, the insolvent US banking system, the Dubai debt bust, the Southern European sovereign bond bust, the USTreasury false rally, the extended QE to Infinity policy, and the spread between the COMEX gold price and the real world physical Price of Gold, next the Petro-Dollar demise and the Gold Trade Settlement platform arrival, with the new BRICS Gold Central Bank, and climax USGovt debt default.

Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieutenant. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading. Gregory currently hosts a business day “MarketReport” on YouTube. You can find out more about what he offers at his website Traderschoice.net.

Paul Craig Roberts is an American economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration and was noted as a co-founder of Reaganomics. Dr. Roberts is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He has testified before congressional committees on 30 occasions on issues of economic policy. He has penned a dozen books, most recently The Failure of Laissez Faire Capitalism and How America Was Lost: From 9/11 to the Police/Warfare State. You can find his latest articles at his website, Paul Craig Roberts Institute for Political Economy.

Many thanks to Jim for his time and for his willingness to continue plowing ahead, regardless of the strife and struggle that life throws at you from time to time. The year 2022 is going to be a doozy and we need as many big brains as possible to help see us through it.