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Well hello America did you wake up this morning and read about what's going on with a dollar.
-- probably not I mean you still get the news from the newspaper.
Then and especially to get the news from an American newspaper and -- definitely didn't read what was going on with the dollar.
In a fuel only -- the paper you probably.
I'm guessing you know the name of all of David Letterman interns and the latest -- Jon and Kate plus eight with the demise of the American dollar.
Please did you -- they arrested Erin Andrews stalker.
Who's doing what he's -- -- about the dollar -- said what Leo -- Here's why.
Because whenever I ask people.
How it is that they can possibly believe that we can sustain the out of control spending and foreign debt that we have they always respond exactly the same way only here it's such a war -- war.
We're gonna be -- America just -- we've.
Then you don't -- Problem's bigger than this line we're America.
Okay that's nice optimism.
But what are you basing it on besides.
-- going to be a favorite -- Lindsey Graham he's optimistic about stuff as well.
But that doesn't really provide comfort.
After what I read in the independent on the demise of the dollar that was the headline of the story that the UK paper by the way.
They claim that Arab states have launched secret moves with China Russia and France to stop.
Using US currency for oil trading.
They plan instead to move towards a basket of currencies will.
That's how to -- it doesn't mean others and which is -- The basket includes the year old began.
The pound sterling.
The Canadian dollar the Swedish crown and the Swiss franc.
Seems to be on -- all missing.
-- -- -- Now just so you know.
The Saudi Central Bank governor denies the secret talks took place in fact they said at this time there's absolutely no reason to move away from the dollar we have no plans and a so I'm I'm sure we can all assume that the dollar is here to stay in everything is just -- But in the off chance that.
-- somebody in the Middle East wouldn't tell us exactly the truth the other they're not exactly 100% reliable.
Maybe we should discover what it means for our dollar and our country if it's no longer pegged to oil.
What does that mean for you.
Everybody let me -- -- this -- long time ago.
Back after of the world that way after the world war in fact.
During World War I it started.
America had a whole bunch of gold everybody had gold.
They were borrowing money from us because they were fighting the war so we said you know lot.
Why don't you just give us -- goal now after World War II we officially went.
To the gold standard for the US and we -- you know what there's just not enough of gold for everybody.
Thought -- why don't you just use.
The dollar and what will do.
Is will give you guys.
An equal amount of money so everybody has currency.
US dollars it's fantastic.
And will just state will keep all the goal and we promise.
We're never -- to trash our dollar.
We never do that you guys -- we love you and word trust worthy.
So everybody gave us the gold we still had a nice stack of cash here and gold you're over here you -- -- have any gold right this is you.
This is you this is your savings.
How much did you lose if you had any money in your 401K.
Did you lose.
Let's say my I don't know 40% of it's it's Alaska.
Now did you know that the dollar has lost nearly 29% of its value in the last seven years.
There that's done.
9% of that drop was in the last six months alone you now only have this much left.
Now you compare that to the basket of currencies so -- nice basket that they're talking about I love this.
In the last six months on these currencies it's lost 19%.
Of the Australian dollar 13%.
Of the Canadian dollar durable and Canadian dollar was a joke.
Of the Japanese yen.
How come you haven't heard about all of this how can you haven't heard that while you were sleeping first they came for your 401K and then they just came for your dollars.
Well most people haven't minded all that much are.
Attitude -- -- -- well the dollar goes down we'll be able to make more because well they wouldn't be able to sell our goods it's good for business.
And it will be able to make more stuff and -- more people.
Yeah he had.
Well here's what's happening now.
Well now the rest of the world see -- is only change only traded in dollars that's it.
You could only -- oil -- dollars.
Well if we go to the basket of currencies.
-- get the end of the dollar.
Well they don't need all of this already China is divesting themselves of the dollar they're just throwing this over here.
There is get rid of those because what they're -- -- buying up all kinds of stuff they're buying up land they're buying up minerals are buying up oil wells all kinds of stuff.
So -- get rid of it.
And everybody else.
Well if if this gulf states get their way.
Well they're just gonna push all these dollars over to here.
And now this trade.
In the basket of currencies.
Which by the way doesn't include the dollar what does that mean.
All that means we have more money that'll be great look at all the money we have -- -- out except if we have all of this money flooding the world.
Your little stack -- -- your little stack -- your little stack.
It's now worth.
All but by the way to worry about it as we can just print more of this.
It's called monetizing our debt hyper inflation.
This is why you don't do what we're doing.
-- keep printing money and there's no stopping why is there no stopping because the people in congress don't have a spine.
The government thinks including the president and the last president thinks you'll freaked out.
If we say we've got to cut back on our spending you're not going to be able -- have as much we've got to do the responsible thing.
They don't think you're capable of understanding that they don't think you're capable of doing the hard things.
But if you're one of those people think America will just always be either because we -- America let me make one thing very very clear to you.
America and fail without vigilance.
It is possible.
Wasn't it only back in January that we had -- United States congressman Paul -- Kanjorski say that America was three hours away from a complete economic and political collapse.
That would bring about martial law.
I mean I don't know he was right on that one but is it possible that it could happen.
Let me ask you this do you remember what it felt close your eyes for a second.
Do you remember what it felt like on September 11.
Do you remember how fragile this country felt and we all thought -- It could be over tomorrow.
Are you honestly telling me that you believe that this country is in better shape financially.
How -- then we were on September ninth 2001.
If you do you're living in a fantasy land I mean I expect -- to look after playing.
It can fail.
Get rid of the redwood forest.
In redwood forest in California these gigantic trees they stand for hundreds and hundreds of years they can withstand great storms and fires and earthquake.
If you've never been -- these forest you have to go -- unbelievable.
Almost nothing can take them down.
But there is something that can and have something very small.
A little -- They get insight of the trees and they started infecting and little by little they just continue to eat and consume and they -- the trees.
And before you know what the trees begin to fall.
What mighty winds and storms and earthquakes and fires couldn't take down a tiny little beatle.
-- From the inside.
Our society our government our financial and business system is infested.
With tiny Beatles it's called corruption it's called.
Me me me me me.
Lindsey Graham said -- godless.
He said that I -- a pessimist.
I think America's best days are ahead of us but he doesn't think that he thinks that I believe her best days are behind her.
He said he doesn't listen to pass tests.
You can listen to me he -- that she's got to affect us quite frankly I don't.
I don't want to go down the road of thanking our best days are behind us.
Can I ask a question.
Do you think I do.
In other people watch it shows -- all you know what he's just a TV he's just to have for ratings.
I believed and Ronald Reagan.
Pessimism doesn't work with the American people.
You think I want to believe it as a dad.
Do you think I want to believe these things that I.
And -- belief that we're gonna go into hyperinflation that that the country.
Could financially collapse.
Let -- make this clear to you I'm not a pessimist.
If I was a pessimist if I believe these things and I was a pessimist I wouldn't be living in New York City I mean they're going to be eating each other in this city.
Things collapsed can be pretty here -- be living on a farm someplace far.
Far away from New York City.
I am an optimist.
Let me take that back.
I am a realist.
We must recognize that the system we have isn't -- would -- Eagles it's got it's got a disease and has a cancer.
Why he is America's spending its time ridiculing somebody who says you know what EU should really get a check up and then maybe get some chemotherapy.
It's it's why are you making fun of the -- the next guy.
Start getting treatment.
-- -- -- -- hello all I think we're infested with Beatles.
Because I'm a real list.
I -- an optimist.
Because I know what -- this easy as any in your gut you -- until it's corruption.
And it can be treated it can be cured but not.
Not if we just sit on the sidelines and help.
I am going.
Not if we continue to -- each other apart.
If we weeks' time screaming at each other what you're a donkey would you -- I'm an optimist because I know we're Americans.
We are the people that conquered the west we -- the people that cross the mountains in wagon trains.
I think I could do that.
We -- the people my -- my father told me.
He's born and I think 1926.
He said son when I was growing up I never thought that we could even ever put a man on the moon.
We're the country that did it in one decade.
You're telling me we can't defeat corruption.
Know somebody has to spell it out the system is corrupts and if we don't fix it we're doomed.
But we can fix it.
But if we don't we're gonna go the way of the Soviet Union.
The last arrogance big superpower an empire.
For seventy years today where the big simple idea they would Alonso is Soviet Union -- world superpower.
With a military -- five million over 30000 nuclear weapons they were feared and they played a big role on the world stage I remember the Olympics when we were going after them.
Do you remember what happened to the Soviet Union.
We -- came crashing down didn't it didn't take long for to fall either.
It didn't come crashing down it didn't collapse.
They were saddled with The Beatles soaring budget deficits foreign debt during the 1990s it was out of control in the 1980s who hit two home.
Then the price of oil declined overnight to inflation was at 125%.
The -- international strength it -- client.
They were embroiled in endless conflict where Afghanistan.
Is any of the sounding familiar.
They show you the parallels because it didn't collapse.
It happened it.
We were spending them into oblivion Ronald Reagan he wasn't -- -- -- Star Wars why eight.
To get them to start printing rubles start spending money.
He knew they could collapse from the inside on monetary issues then the seeds of discontent the -- played a role.
He kind of people inside.
Fighting each other -- and pulling the seeds of discontent.
Then this man played a role we were paying for this man.
Why give him embroiled into a war they could never win.
Then the price -- Saudi Arabia.
Let me just change a few things here for.
Ronald Reagan god bless him is gone.
Let's change this scenario from Russia to us.
Who's got -- spending all kinds of money.
Who has sown the seeds of discontent.
To where were yelling at each other all the time where we're -- -- -- anymore we're not even neighbors anymore we hate each other who's doing that to us.
-- I know they'll blame it on me really.
Of course they blame it on me otherwise we got to look at what they're doing.
Since sowing the seeds of discontent.
Were in a war in Afghanistan I don't know if you notice is not going well what's the plan there.
And then the price of oil -- what happens if all of a sudden.
Saudi Arabia says by the way the -- no longer paid for in dollars.
We have these problems in place yet our government.
Is still jamming through trillion dollar health care plan.
Spending hundreds of billions of dollars on bank bailouts all they need some more money how about some more stimulus -- They don't even flinch -- billions in the cost of a massive cap and trade program.
That in the face of rising energy costs.
Cool in their right mind would raise energy prices on.
-- -- Under my plan.
Of a Cap and Trade System.
Electricity rates would necessarily skyrocket -- Why would you do that.
This is not about.
It's not about him.
It's not a flag.
It's not about money.
And I know because I hear -- all the time from politicians I don't think they.
I think the robot's thoughts about the children this is about the children.
This is about our children having some sort of future left.
I I live audience -- a live on this I don't care.
As long as my children have something left in the end.
It is important to note that the Soviet Union did not collapse it was transformed.
-- which is why this sound bite that I played over and over again bothers me so much.
We are god there's -- way.
From fundamentally transforming the united states of -- -- What does that mean in context of the Soviet Union.
Well after all of that stuff happened.
And their rubles were worthless.
And toy shop up.
Three Soviet leaders met in the woods they decided the Soviet system wasn't working they knew.
They knew it would eventually implode let me tell you something our leaders now know -- we will implode if we continue down this road.
Well in the Soviet Union they drafted a document and transformed.
It the Soviet model.
They presented that model that plan to the supreme Soviet counsel who had one.
Our two debates.
They were told.
Don't do this or it's going to implode.
-- be very aware keep your wits about you.
Read history you know what you believe.
Know the truth.
Question with boldness hold on to the truth that you fight.
And then you speak without fear.
I think some day.
Somebody is gonna have a meeting and they're gonna say this is going to be worthless and the people will panic we need a plan.
Well there will be a couple of -- I'm sure.
I wonder if those plans will take us farther into freedom.
-- hands in their control the people that created this mess will come to you with a plan.
You'll have to know as everybody else will be freaking out you will have to know.
Do you watch your life and your freedom and your children's freedom in the hands of the people you don't trust with it right.
Now here's another turn on the story Nobel Prize winning economist Joseph Stiglitz.
He said that the financial markets shouldn't be subject to new taxes local taxes.
That will discourage dysfunctional trading and help pay for the damage of the global price crisis inflicted on poorer countries.
-- Who caused the global problem.
What's wrong with that.
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