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April 4, 2022 9:35 pm
David Fischer joins Steve on the show today for a full Monday to discuss gold and where American money is going. What is best for you?
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The following program is recorded content created by the Truth Network one is time for this noble show where biblical Christianity meets the everyday issues of life in your home, at work, and even in politics. Steve is an ordinary man who believes in an extraordinary God it on a show, there's plenty of grace and lots of true no sacred cows call Steve now 86 34 true 866-34-TRUTH or check them out online, Steve Noble Joe.com now is your house well is a lot going on out there. The league, and it's having an impact all around the world and I would just go for money Monday with her friend David Fisher from landmark capital.
Landmark goal.com saw the story yesterday, and if you depend on all the today might be seen that all the other journeys telling everybody. Hey were you raising our prices on 400 different items anywhere from like I think 30 to 50% 55 zero 30 to 50% price increase coming to all deeds starting over there on the other side of the pond, but it will work its way over here and if it's all the then it's going to be who next after that.
So there's a lot going on because what's happening not only in Ukraine, Russia, and that mass, but we've got two years of mass backed up behind was supply chain issues from coal bed yada yada yacht on and on and on it goes.
So we have a lot to talk about today as we talk about what's going on over the over the over the pond is all it's going on here at American Pres. Biden last week on unleashed. That's a great word for it unleashed his budget almost $6 trillion, which I don't even know that that gets any attention anymore. When the president comes out so we get a 5.54.65 $20 trillion budget. Most people like yeah yeah whatever and then they move on because it's an incomprehensible number.
Anyway a lot to talk about today with our good friend David Fisher on her for money Monday as it is the first Monday in April, David, how are you about buying 9% stake in making sure older jump from $39-$49. Last Friday, or 21% $3 billion. And so whatever he spent to do that. Yeah because he put that out until her to put that out on Twitter, not that long ago.
David is like a you know for free sleep problems at Twitter. What should be done and everybody starts hammering to either start your own or by Twitter and he didn't really say what he was going to do but then all of a sudden he buys up knowing about what 9 1/2% is the biggest single shareholder of Twitter way beyond Dorsey who is the guy that was running a before and I love that I mean either do something about it or shut up and he's he's doing some about it. I wasn't just a work was sweet, so it's really he fascinates me anyway how are you doing 2.3% of the company sure three times. Dorsey so yeah, thanks for asking. So excited for today I met with the news within my spirit, disturbing the peace of but I'm engaged please see can be a little bit alarmed your engage in. That's right exactly right. So we lean into it and this is the this is the period of time in which the Lord has allowed us to be born in for such a time as this. So you just go here. You can't change the timing, but you can change how you react to it and you can try to control that and be wise.
Whether were talking about money and our time are talent, whatever you're doing. This is this is the time that the Lord is sovereignly placed us all in.
And so that's not by accident. That's on purpose so great word there a lot to talk about. So last week. As I mentioned Biden to use your what your word unleashed his budget and I talked several times not always that making sense, but that thinking that's going to create an economic boom. David and I mean I guess I missed that the email on that and that it would also wipe out by spending almost $6 trillion were actually gonna bring down our budget so I don't know what I was thinking about what would help us understand what's going on here, but found some information on it and you know the guy same number of course before it failed.
Every administration tries to spin a favorable narrative under Andrew annual budget is in this $5.8 trillion is a bunch of spent on it. For those that in here last week. $5.8 trillion.
It's the largest investment or national security 813 billion $31 billion increase 1 billion going to Ukraine almost 7 billion going to NATO and yes the budget to come down this world get healthier and the wealthy and corporations with 55% of corporations being small businesses. The promise in my opinion, that you aren't going to be taxed if you make more than $400,000 or less you give me tax because it is raising the corporate tax from 21 to 20%.
So 50% or more of all small business organ.
I have a tax increase.
No matter what you make but crew says the Lord of the budget deficit spending. This can and here's the number $45 that's going to be not all of my whole but I guess that number he doesn't going to, but here's how he says that it comes from Pres. Biden's plan is doesn't state environment when it's based upon outdated numbers. Assuming inflation is still at 2% 67.9 to be exact, anything by underrepresented inflation budget proposal represents the true cost of its spending plan.
And that's what you saying that the national bed is just going to be obliterated so higher numbers.
Not a good number and I don't think I want to be alone must by bunch of stock in the United States. Yet right now because it's a losing proposition. We can talk about the bond market. It's a bad deal right now but anyway, that's the numbers and restoring the sealed opinions coming out that this is not a bed of roses. This could be the roses around the funeral talking about it to devastate the budget. In the end, and that's were already at $30 trillion, $33 trillion. That's also right now, it all becomes a relative term. And then whenever they tell you know yeah but I've noticed in the past. David that when I spend more and more money on my credit cards. My total my total amount of debt actually goes down said no one ever.
And so that's that's resistant figure what this is just politics over and over again and it doesn't even make sense.
But you don't have to make a lot of sense in today's world, especially when it comes to this because people are just a plugged in their own little lies. That's why the all the story and the price of meat is going to be much more prevalent to the average consumer out there than a $5.8 trillion budget out of the Biden administration talking to David Fisher. It is a full money.
Monday we have a lot to discuss a lot to learn will become back right after this nice relaxing music there and a full money Monday with her good friend David Fisher talking about what's going on out there in the world.
Whether it's a bite. I pointed trillion dollar budget or recession or some numbers going into the red. There's all kinds of problems out there in Russia selling oil and they were done with the US dollar.
They're trying to do that versus the Chinese you want. So things are changing the Monopoly board, the international Monopoly board is changing rapidly and for all of us regular folks the little guys were cut at the end of the train right were in the caboose and so outliving happens up front ends up with around eventually in the back and we all have to deal that we would deal with the fallout here is normal Americans most of us listen to the show are at the upper upper income people middle-class lower middle-class. Maybe some of you in the lower class and a few of you in the upper upper class but not many. So we have to deal with this is regular people. What goings-on will goes on to DC what goes on around the world. What goes on in the financial markets which is why were always so grateful to have our good friend David Fisher here with us once a week helping us understand these things so that we can be better stewards of whatever finances we happen to have charge of whatever the Lord has allowed us to get to and so we really appreciate that in the first Monday of the month. Of course we go full money Monday and spend the whole show talking about of these issues landmark. Michael.com is the website is always landmark goal.com for David and his team, but David did so much to talk about what what's what's going to the general consensus out there besides Ted Cruz what are people saying about this big five $20 trillion budget and then will move on. Many people will be harmless or binding in very small employer buying in that it's going to pay for itself you know we haven't had since 2000, show, or prior to 2000, when Clinton was in office so not buying. It's going to pay for itself in order to have reducing the budget deficit for questioning the validity of how much it's going to cause inflation because it means more spending, which means hot more inflation so just it's can actually cause more problems than fix since the economy you can't spin the economy through overspending. That's the bottom line, but that's what this does, the CEO, J.P. Morgan, what's he been saying about major risks of this country unprecedented is the term he's using when he's talking about combination of inflation worn: you saying that this comp illumines these three things could drastically work usually dramatically increase the risk ahead for the United States you saying hi inflation that will usher in the new era of raising rates. Here's here's a quote that he said he completely different to me. They present completely different circumstances than we've ever experienced in the past. This is a compliment I can't read today may increase the risk that you saying these components post covert work which is brand-new still and inflation which are just getting started face before inflation is that the levels we never inflation formation in Ukraine and sanctions on Russia will shoulder global economy and yet it could easily get worse from there. He also goes on to say that the Fed raising wrap the Fed will likely raise rates rapidly and they also will have a significant reversal requirement a reversal.
Other words are saying he's saying that the Fed is going to fall through the unleash not buying the debt anymore and unravel silver euro spent on the balance sheet 9.3 trillion, and so there's people like him, a hedge fund manager cheapen information officer peters is one of management. He's saying get ready for a recession. There's all kinds of people's talking about recession Jim Bullard, previous St. Louis, the German saying we should be up 3% interest rates by the end the year with 1/2 a point right now and former Fed Chairman New York Chairman Bill Dudley said the actions will inevitably cause a recession so that's I mean down because I just was teaching on US history I teach every week and I was just teaching last week in World War II. So when you said told the war in Ukraine and inflation. I wrote down axis of financial evil because she those three things all happening simultaneously and then did you say something suggesting we would go from half a point the industry right now the three points by the president. He wrote an essay and put on the federal website. What would be some of the practical locations that they can actually go from half a percent right now to the ads, the bigger from half percent right now to 3% interest different interest rate, the benchmark rate by the end of the year. What kind of book down stream effect would that have raising rates and may help appointment in June back to back out of .1 and 1/2 were halfway there were six months through the year and will only demonstrate rate hikes so ready that 3% is role in the target and what does that mean to us as soon as friends because all I know you get ready. Corporations are just going to pass rates off to the consumer. That's why this should been saying I was like a broken record nation is Josh starting. It is not on the tail end of this income starting to get control of this and it is going to affect our pocketbook and the usage of the dollar globally ahead for it. I'm, to make prediction right now on your program. There is going to be down swing either in the market or the economy between now and the end of the year. The Fed can pull a rabbit out of a hat and I've never seen that happen. This is the top environment and working to pay. Unfortunately, the skies not following the dollars are going to soon will will get a feel lot lot higher prices for the cost of goods, things that people buy every day and big ticket items I saw that story I mentioned earlier on all the raising its prices by an average of 2020 to 50% increase in production costs from and their relating it all to what's going on in Ukraine from Monday onwards meat sausage products and butter will be significant. A more expensive occult company spokesman's until German press agency DPA said starting over there but it's going to come over here and those are benchmark regular things that regular Americans go out there and by so that's that these prices start going up, 20, 30, 40% David average Americans, especially middle-class lower middle-class ministers. I don't know that we've seen anything like this in the last several decades. I don't think we've seen anything like that since the 70s happily, we have an issue in the 70s will help us out because Russia is one of the biggest exporters of laser and one of the biggest one of the biggest buyers of nitrogen and potash from Russia which is fertilizer in the North American fertilizer price index is up 43% since the Mason just a few months ago and up to 33% from a year ago, so this is one reason will fertilizer causing fireplaces and you're right Europe 20 to 50% increases cost that started the last night we were sleep this morning when retailers announce this follow the sun and end up over here and I've got a buddy John hold David Fisher. I've got a buddy in the commercial landscaping business is cost around commercial Roundup is up 300%, three times more expensive than what your real friends will be right back back at Steve Noble to Steve Noble shall find a way if you're wondering about the budget in heaven got you don't have to. There is no budget, unlimited resources, perfect stewardship and will if you're a know Christ as your Lord and Savior. You put all your faith in him one day you'll be there at that kingdom wherever it is right now that eventually will be here on earth and we don't worry about it as junk nice I mean you don't worry about the price of gas you not to worry about the inflation you not to worry about how much it costs to buy chicken because there's no chicken in heaven there will be chicken here that you can be eating because it will be no death. But if God wants to make you know an impossible burger and a possible chicken sandwich. I'm sure he's perfectly capable of doing that.
So one day we not to worry about all this garbage, but in the meantime we do, and these are very serious consequences, especially if you're like the noble family you know what we do okay, but were not wealthy were not rich and so when gas prices start going up we start making a decision about my wife's car versus my car in which car gets a better gas mileage and they are starting to make some decisions like that going okay that's that's not maybe should take this one step to drive really foreign and that that's that's real life for us normal people down here. That's why we have to talk about these things ever so grateful for our friend David Fisher Lee, Mark MR gold.com as we look at these different issues, which are literally changing every week and trying to keep on top of it so we can look at and what's in front of us what's coming. Which by the way, should affect our prayer lives. We should all be praying into these things in life are own sake, but for everybody else, but also just to be prepared. And I will remember you have been given a spirit of fear but of love power and a sound mind and part of having a sound mind as being educated which is why we always afforded David every week when Michael.com you mention the R word recession that help us remember what a recession is how do we know for you to go into one and what would that look like and how soon the breakdown on market a lot about the recession. That's one thing in the headlines recent days on market draw down on record" of drawdown means the prices dropped in the global bond market loses $2.6 trillion. There's been a plunge of 11% in global bonds since January of last year, the highest decline, percentagewise since we've been collecting down all the way back to the 1990s, and by December of last year 2020. The amount of global debt with negative yields reached $18 trillion.
That was a real chore with the inch inflation is at 7.9% in a two year treasury note is a 2.4.
That means it's a negative return 5.5% native showing a lot of money out there in the big chunk of its US dollars, 8 trillion of the 18 building so last week, Graham Summers guy have been holding said he's warning now of the use of the terms ocular sees you shows inflation of the levels at unprecedented years last 50 years, you should know career is inverted. He also said that 66/recessions was also led by the Dell transport index, which is an index is like the dollars and then mixes an index within the Dow is called the transports when that is trying negative collapse goes into recession 66. Last time I stock index collapsed 5%. Not now.
Index transport index. But the biggest thing Steve is that you incur in brooding, which means okay.
There's a government that government issues are dead so we can keep overspending they created to your note and a 10 year note in other notes. It is useless to me.
Normally when you're older that longer time 10 years you get paid more money you're taking on risk to your note should pay less money holding you when the inversion happens becomes pays more money than the tenure got I said on Monday sometime this week. This last Monday. It will and it inverted several times last week Thursday for the first time it's inverted today. 910 instances the S&P 500 when it and then turned water. This is a prime recognition of a recession coming and I just peeked out in December. By the way, and were down almost 5% today. 4.6 recession over the last 70 years sees as only happened after two intends inverted leverage every single time the true intent inverted. We inhabit a recession 100% of the times in 70 years.
Another remarkable data point. On average it takes two years for the Fed to start hiking relates to input choose and 10, but this time they start hiking reached two weeks ago and is last week is a completely different environment. This is a session coming on steroids. Every indicator is on the historical track record is screaming recession and water the dogs up all going to be wrong. I don't think so unfortunately I'm not a doomsday or I am being realistic in the data. I don't like the data I said this would happen though. Once the Fed starts raising rates. You can see all the wheels fall off the wagon and it's doing that in many ways now that's a dissenter earlier with the federal government trying to unwind its balance sheet $9.3 trillion of US debt at this point. When you have a negative yield curve and so they inverted you make more money than two years and 10 by that junk. I mean I mean all the junk-bond dealers of the 1980s and 90s can still sell that junket. So back to me who buys US debt anymore get to see that fax is working out three years of inversion and they were wrong when they said it was going to happen in the third quarter. It happened last week Bank of America so this can happen in the second quarter. There were spot on show will have a recession in the next 12 to 18 months.
That's usually 90% of time when it shows up so prepare your financial house in order. Recession is usually bad for stocks usually probe for metals. Pretty good for real estate at the beginning and really bad at the end but higher rates are coming this time is will remember it's the real problem around the dollar because Russia and is involved with this thing and there is a change that huge paradigm shift coming. Now we've opened the door for about a dollar stop and get recent. I've done a couple shows in the past fulfills on the great reset of the world economic forum. I recently just finished reading Glenn Beck's book on it on the great reset which has excellent research, we would think about Glenn back the things got like four 500 different footnotes, others excellent research in all this is setting up nicely through a biblical perspective in their in an intense perspective and then I reminded people. Just the other day like okay everybody, just remember the end of the story is set, the overall trajectory is down. It gets so bad the only persons in a solvent. In the end is Jesus himself, and so just gird up your loins and remember that not that we can have little upticks every once in a while in a certain part of life are certain part of the culture. Even in a financial way, but the overall trend is down in and we have to think were ready for that day, but I think we were shocked by what happened with: I think working to be doubly shocked by what happens with the recession of this magnitude. I just don't think we have the imagination for it anymore its Catholic pre-9/11 versus pony post 9/11 does not have a grasp on this yet talking talked about but she more mortgage coming out of the news the next weeks and months and is going to become more of a reality, especially when you see prices at the grocery store starting to rise in oil prices starting to rise Russia's kingpin at point about this in the and China have been planning this for over a decade to talk about that we come back in the last segment is what's going on with Russia's threatening not to sell the oil in dollars and euros anymore so because theirs is collapsing to like going to buy Russian oil again at the Paso Robles.
I mean, again, this is unfortunately this is really really for most people day, but I think it's very complicated and they just kinda glaze over until they go to the grocery store. The gas tank. I start trying to watch the credit card rates skyrocket. I just hope people are starting to go okay I need to I need to get myself more educated here because I don't understand what's happening top Russian lawmaker are I will pronounce his name right should last Wednesday, Wednesday, and Reuters reported that should quote if you want gas find Rubles" sees and Monday Russia turned off the valve for oil to Europe she started happened yet happen, in which we, getting the break put a price for oil right now if sold in dollars and $98.05 more dollars to that Saudi Arabia has been adding a five dollars premium is discounted $35 a barrel sheet. Yeah, they're very serious about transferring this whole thing out of dollars and it's happening right underneath her nose were talking to David Fisher for money Monday we all better be praying about this stuff to Francis and Steve Noble and the Steve Noble syllabary Steve Noble to Steve Noble show several people in Facebook live asking me about the role of precious metals in the noble family. Listen we got educated.
David was kind enough all the way back. David, I think it was 2016 when we first started talking when I first went into syndication with the radio show and we spent probably a couple hours back and forth on the phone because I just did not understand the role of precious metals in a balanced portfolio. I didn't get it. I heard Glenn Beck talking about it back in the day, and I like while he's wacky so Michael is in him.
I don't think that completely anymore, but then other people I would hear and I'm like the sounds a little nutty to me but you were kind enough, way back when almost 6 years ago to kind of explain it to me the okay this makes sense to me and you don't have everything on one end of the teeter totter because we all know what happens when the kid jumps off the other end where sailboat when you have your big sales up there and you're working with the market last year you like.
While this is awesomely a prevailing winds to make a lot of money then that wind dies and goes south are the block knocks your boat over DME ballast underneath that that's the diversification. So I got educated and then I made a decision and we like the fact that we have physical gold that's in a safe deposit box, because I know it's out of the wind of the what's going on in the crazy market and provide some diversification but that's the history for David and I and then I would always encourage you you John understand sounds confusing to find out more. Get yourself educated. That's what I did because I didn't understand that David would be on the radio show today, but he's been on for years now because I did understand you have to go to that process as well to get educated to be good stewards David anyway, thanks for spending all this time not just today but over the last almost 6 years now were the streets of gold, we want to have some sort of representation. The noble family understand that many of the listeners not taken that phone call and call my company understand that many have done this before you. There is no pressure nor obligation learn about it and pray about it and see what it does for you to see if this is the right move to put a portion of money but a portion of your money into this house or class like Scripture says a portion of the seven a portion of the is you do not know what tragedy may befall you, is all about empowering you with wisdom and knowledge in helping you. Ultimately it's your decision not that we don't know what will befall you, but we do see things on the horizon. We talk about is pretty obvious.
David Vincent and did you say before the break, David, that Russia is discounting their oil. Third $35 a barrel. If you pay them in rubles. That sounds like a deal done at the grocery store.
Something I thought I would watch the Russia and only back there. I thought that was 10 years from now Steve last week. It is happened so I'm all the way. Russia's gas giant gas prom officially deliveries to Europe.
They turned off the pipeline.
You can only pay in the gold bowls to pay in one.
Russia's accepting payment for all the wrong one and I think this would have made this staunch that relational polarizer dollars. Either they should all commodities enough a commodity so you get more clarity on that. But yes Saudi Arabia has been adding a premium of five dollars a barrel for last year just raising that last week to $10 and $98 review by dollars from Saudi Arabia. It's $108 a barrel versus Russia which the currency is fully recovered.
Since the collapse of the beginning of this war.
Two months ago discounting it. $35 a barrel in rubles $60 $63 a barrel, not $98 a barrel so that Russia's same rubles and then there's the vitamin C's intent to talk to Venezuelans and he said Saudi Arabia in the Middle East about their production in the knees dipping into our rubber reserves, which doesn't accomplish anything at the pump.
It summing the whole thing is so ridiculous because he so controlled by the left and he's just whoever the puppeteers are. It's really remarkable and into here that what's going on with Russia. I mean this is we we have to get use. I think we have to get used to the notion that America is not the number one player in the planet anymore were trying to like fighting is like trying to cover up of shock on the wound with a Band-Aid right now. It's believed and were not doing the right things on every level were spending too much work with the Federal Reserve. Our central bank is having to do to get rid of the dollar because it dollars in trouble. That's why they're selling nine of it not buying anymore because losing money gets a negative acid. It's a negative return on their money.
They have to do this. I said we were getting your ushers. Compounding this with trade-in kicking off the dollar off the stove to the petrol. One thing that saved our bacon since 1974 until now.
Now we lost that. So this is why this huge paradigm shift is not fully been embraced yet by the Western media on because I said we would be.
I just didn't think it would be in 2020 2B 2025, 20, 30, 20 so were edging towards your goals. Now lightspeed. Russia's now insinuating that the currency is backed by the could be backed by gold will be selling will in in in payments in rubles and one dollar central bank out there and you see this thing called the dollar in trouble and banquet from reserve showing next couple years. This is a wake-up call to say I can't lose many dollars. I'm saying this is a small bowl on this to financial calamity. This is why there's four scenarios happening in recession of magnitude like never before coming.
Unfortunately, when you put all these pieces of the recipe into the mixture. Shortages will ship chips for electronics to go on and on time and monetary disorder. The dollar reserve is shrinking share of US dollar denominated reserves has fallen to the lowest point in a 26 year low created just recently, Wegmans. The sanctions have played minted the international monetary system. This is opened the door and course the uncertainty is what this war might turn into a by gold for on a wildcard that's a wildcard it's bad you'll see higher prices and gold, but I hope it doesn't get bad. I think it's just I think all the other things I said are going to be the factors.
This is why you diversifying gold because were having 70s all over it.
Currency crisis payment on top of the 70s. What is going on specifically with gold and silver know there's a lot of central banks now that Russia is doing what they did finish we seen a lot of central banks by gold to see it more like never before and will already have the 50 year high central banks. Looking back 50 years worth the highest point within the last three years were central banks bought more gold than any other time in history which tells us thieves that they are predicting a financial challenge exorbitant measures down the road.
Otherwise, they would buying aggressive seeing huge price increases, but we're starting to see shortages which the next thing is you will see price adjustment upward so were starting to see in bullion products restarting senior numismatic products I'm seeing and better quality investment shortages happening. It's the start I think of many products and silvers responding. We saw some big movements and so over the last quarter of last year in certain markets and silver, and I think were just starting this new era smells run the cost of the major movement upward. It's not a get-rich-quick scheme by forget about it.
Is your insurance policy if they keep inflating will be glad you have some models of the stock market correction will be glad you have some metals as they do the seizure of your lot your 401(k) or diary portion about called the bail and you'll be glad you diversified and metals. This hits a lot of those bullet points and this is why you need to learn about it when talking about physical possession.
When you talk about ETF's are investing in the gold company correct. This is fiscal gold we don't do paper here. I will have a license for his physical gold, yes, hard asset and likely junk like that. A couple people on Facebook LANDesk different types of products there's old angels are exempt from confiscation. Per the 1933 historical precedents in the trading with the enemy act blog 1917, so most people want to buy gold. They want to get their money saved from the government. And that's why they buy old coins, new coins are our American Eagles we should all propose to all products, bullion products and those can be confiscated. So that's why most people they shouldn't talk with those they learn about all the stars about four distinct markets they learn about all the benefits and drawbacks, and they can make their own decision what is best for them is desperate times call for desperate measures. And if you think the federal government is up to the task of seizing whatever they can in order to keep the ship afloat.
Your head is in the same. You have to begin to think a little more creatively and a little more darkly. Quite frankly let go a little bit darker with your imagination here what the federal government is capable of, and we have plenty history, not just here in America but around the world. David the people want to start that educational process what they do. 575575 landmark.com. My buddy got bless you will talk to you next week.
Thanks so much. This is Steve Noble and Steve Noble shall, God willing.
I talked again real soon and like my dad always used to say ever for another program powered by the Truth Network