[00:00:09] [SPEAKER_04]: When it comes to politics, I'm well past the tinfoil hat stage. I need a good helmet for the bang in my head against the wall stage. The Kate Dalley Show starts now.
[00:00:20] [SPEAKER_02]: Let me tell you folks about global warming, especially you young folks out there. Don't worry about it. And I'll tell you why. Just trust me on this. For as long as I have been alive, it's been hot in the summer.
[00:00:48] [SPEAKER_02]: Here is almost unbelievable. Some summers have been hotter than others.
[00:01:07] [SPEAKER_00]: Not the truth. All right. James Gregory, comedian.
[00:01:21] [SPEAKER_08]: Yeah, I was that was very appropriate because I've been banging my head against the walls stage all more.
[00:01:32] [SPEAKER_00]: Such a bad joke, but I'm so with you. Oh, you guys, the dilemma of talking about somebody no one's heard of and suddenly CBS and all the mainstream, even Fox.
[00:01:44] [SPEAKER_00]: Yes, Fox, because they're mainstream, is painting him as the holy grail of Americana.
[00:01:50] [SPEAKER_00]: Yeah. Yeah. OK. The guy had a five percent to 20 percent range of voting for the Constitution.
[00:01:57] [SPEAKER_00]: But anyway, a total sellout and communist thug. But we talked about that in the previous hour.
[00:02:01] [SPEAKER_00]: In this hour, we actually have Mel Madison joining us, which I love the hours that we spend with Mel.
[00:02:07] [SPEAKER_00]: He comes on the show every Tuesday. How are you, Mel?
[00:02:10] [SPEAKER_01]: Doing great. How are you guys?
[00:02:12] [SPEAKER_00]: Great. In fact, your book, Quaz, Q-U-O-Z, Get the Book, I highly recommend, is on audio.
[00:02:18] [SPEAKER_00]: It's an audio book now, so you might want to talk about that. Where can people find that?
[00:02:24] [SPEAKER_01]: Thanks for mentioning it. It is available in audio book as well as your other normal formats, e-books and paperback.
[00:02:31] [SPEAKER_01]: You can get it at Amazon, Barnes & Noble. If you like using a local bookseller, they might not have it in the store.
[00:02:39] [SPEAKER_01]: But if you ask them to order it, they can find it by just saying Q-U-O-Z, Quaz, by Mel Madison.
[00:02:44] [SPEAKER_01]: So pretty much anywhere books are sold. And the audio book is, again, Amazon, Barnes & Noble, normal places.
[00:02:51] [SPEAKER_01]: So thanks for letting me talk about that a little.
[00:02:53] [SPEAKER_00]: You bet. You know, MelMadison.com.
[00:02:56] [SPEAKER_00]: So we have a lot to talk about because you were the one that brought up Japan and keep an eye on what was going on over there.
[00:03:02] [SPEAKER_00]: And it was brilliant. You're so smart.
[00:03:04] [SPEAKER_00]: And then also we have a Bitcoin bill. We also have Lockheed stock going up.
[00:03:09] [SPEAKER_00]: We also have what, Melty?
[00:03:11] [SPEAKER_08]: I just I want to say I want to find out who has the job of doing the acronyms for these bills.
[00:03:20] [SPEAKER_00]: Wait, let me guess. Let me guess. I don't even know. Is it apple pie and Bitcoin?
[00:03:24] [SPEAKER_08]: No, no. What is it? What is it?
[00:03:25] [SPEAKER_08]: Boosting innovation, technology and competitiveness through optimized investment nationwide, which is Bitcoin.
[00:03:37] [SPEAKER_08]: What an acronym.
[00:03:39] [SPEAKER_00]: Well, you know what? It's it isn't just horse crap.
[00:03:43] [SPEAKER_00]: Yes.
[00:03:44] [SPEAKER_00]: Yes. I'm surprised that it doesn't say and it's byline is and we all eat apple pie and everything is fun and happy.
[00:03:50] [SPEAKER_00]: OK, so tell us a little bit about what's going on with whatever he just said.
[00:03:55] [SPEAKER_00]: Bitcoin bill.
[00:03:57] [SPEAKER_01]: Well, first, I think it's hilarious that you brought that up, Uncle Miltie, because I always laugh at that.
[00:04:03] [SPEAKER_01]: And I totally smirked when I was reading the acronym in the bill.
[00:04:07] [SPEAKER_01]: So I did print out, read the entire bill.
[00:04:10] [SPEAKER_01]: Luckily, it's a short one. It's a 13 page bill.
[00:04:13] [SPEAKER_00]: The bill is shorter than the actual title.
[00:04:15] [SPEAKER_00]: Go ahead. Go ahead.
[00:04:16] [SPEAKER_00]: That's a first.
[00:04:17] [SPEAKER_00]: Exactly.
[00:04:18] [SPEAKER_01]: Well, I was going to say, since we did bring up Quaz, I had fun when I was writing Quaz because I had to create a couple of government bills.
[00:04:26] [SPEAKER_01]: And I'm like, you've got to come up with like great names like that.
[00:04:29] [SPEAKER_01]: So there's this whole bill where they're trying to basically take away and confiscate our gold and silver.
[00:04:35] [SPEAKER_01]: And it's called the SAGE Act, Silver and Gold Exchange Act.
[00:04:40] [SPEAKER_01]: So that was the SAGE Act I came up with.
[00:04:42] [SPEAKER_00]: Makes it seem voluntary.
[00:04:44] [SPEAKER_00]: Yes, I like it.
[00:04:45] [SPEAKER_01]: And this is not a bill, but there's a supercomputer, AI supercomputer that's controlling the financial markets.
[00:04:51] [SPEAKER_01]: I call it Icarus, which stands for the International Central and Automated Regulation of the Universe of Securities.
[00:05:01] [SPEAKER_01]: Icky for sure.
[00:05:02] [SPEAKER_00]: Just Icky.
[00:05:03] [SPEAKER_00]: Got it.
[00:05:05] [SPEAKER_01]: And they do it for all these bills.
[00:05:07] [SPEAKER_01]: They really must have like somebody just sitting or maybe they're using AI now.
[00:05:11] [SPEAKER_01]: You know, maybe ChatGTB came up with this one.
[00:05:14] [SPEAKER_00]: Maybe Sesame Street's writing it.
[00:05:16] [SPEAKER_00]: We don't know.
[00:05:16] [SPEAKER_00]: Everything's sunshiny and happy over there.
[00:05:18] [SPEAKER_00]: I don't know.
[00:05:19] [SPEAKER_00]: It's bizarre.
[00:05:20] [SPEAKER_00]: And I'm always perplexed by it, too, by the way.
[00:05:22] [SPEAKER_00]: We've been poking fun at this for 14 years.
[00:05:25] [SPEAKER_00]: The bill names.
[00:05:26] [SPEAKER_00]: And it's always, don't look here because this is glorious.
[00:05:29] [SPEAKER_00]: And then the bill.
[00:05:30] [SPEAKER_00]: So, all right.
[00:05:32] [SPEAKER_00]: So tell us about the Bitcoin bill.
[00:05:34] [SPEAKER_00]: What are you seeing?
[00:05:35] [SPEAKER_01]: Yes.
[00:05:35] [SPEAKER_01]: So, I mean, this one is kind of scary because I started reading it.
[00:05:41] [SPEAKER_01]: I had heard about it.
[00:05:42] [SPEAKER_01]: And they did like so.
[00:05:44] [SPEAKER_01]: Senator Loomis announced it, that she was going to be creating this at the Bitcoin conference a week or two ago.
[00:05:52] [SPEAKER_01]: That she was going to create a bill for the United States to buy all this Bitcoin.
[00:05:56] [SPEAKER_01]: And she said she'd be releasing the bill.
[00:05:59] [SPEAKER_01]: Well, the text came out a few days ago.
[00:06:01] [SPEAKER_01]: And so we were actually able, as the public, to read the details.
[00:06:05] [SPEAKER_01]: And I'm reading through this 13-page bill.
[00:06:07] [SPEAKER_01]: And it says a lot of what she talked about in Nashville.
[00:06:09] [SPEAKER_01]: Okay, we're going to buy Bitcoin.
[00:06:10] [SPEAKER_01]: We're going to buy a million Bitcoin, which is hundreds of billions of dollars at today's prices.
[00:06:14] [SPEAKER_01]: We're going to create a strategic reserve and all this junk.
[00:06:18] [SPEAKER_01]: And then I get to section nine of the bill, which is how they're going to pay for it.
[00:06:22] [SPEAKER_01]: And it's called offsetting the cost of the strategic Bitcoin reserve.
[00:06:25] [SPEAKER_01]: And it is the biggest shenanigan with our U.S. gold stockpile I've ever seen.
[00:06:32] [SPEAKER_01]: They basically want to do a bunch of accounting tricks with our own gold and the Federal Reserve and what they call Federal Reserve gold certificates.
[00:06:42] [SPEAKER_01]: And have these be turned in by the Federal Reserve to the Treasury.
[00:06:46] [SPEAKER_01]: And the Treasury do a massive revaluing of our gold at a price set by the Department of Treasury.
[00:06:54] [SPEAKER_01]: And whatever price they set, the Federal Reserve then has to send, within 90 days, that amount of money to the United States Treasury.
[00:07:03] [SPEAKER_01]: So, you know, I'm going to get into the details a little bit of how crazy this is.
[00:07:08] [SPEAKER_01]: But that's the general outline of what this bill is proposing.
[00:07:11] [SPEAKER_00]: I'm sort of astonished.
[00:07:12] [SPEAKER_00]: Okay.
[00:07:13] [SPEAKER_00]: So we don't hold actual gold and silver, right?
[00:07:18] [SPEAKER_01]: Well, okay.
[00:07:19] [SPEAKER_01]: We don't hold gold and silver at the Treasury.
[00:07:23] [SPEAKER_01]: I mean, it is technically supposedly held by the United States Mint.
[00:07:28] [SPEAKER_01]: Okay.
[00:07:28] [SPEAKER_01]: So if people are actually curious of where the United States claims our gold is, we are supposedly own about 260 million ounces.
[00:07:38] [SPEAKER_01]: The Federal Reserve supposedly holds 5% of that under their vault in New York.
[00:07:45] [SPEAKER_01]: And then the rest is supposed to be held by the United States Mint, which operates various facilities.
[00:07:51] [SPEAKER_01]: The largest of which is Fort Knox, where they claim 147 million ounces are held.
[00:07:58] [SPEAKER_01]: And then there's about 50 million ounces they claim are held at the mints in Denver and at the West Point Mint.
[00:08:05] [SPEAKER_01]: And then they claim they use like 3 million ounces for working stock.
[00:08:09] [SPEAKER_01]: So this is where they claim this actual gold.
[00:08:11] [SPEAKER_00]: What about all the gold that went missing in 9-11 under the tower that fell that it shouldn't have at the end of the day, far after the planes?
[00:08:23] [SPEAKER_01]: Okay.
[00:08:24] [SPEAKER_01]: So they rarely will let anyone into Fort Knox.
[00:08:28] [SPEAKER_01]: Okay.
[00:08:28] [SPEAKER_01]: I think they've done it twice.
[00:08:30] [SPEAKER_01]: I think they supposedly did it in 1970s.
[00:08:34] [SPEAKER_01]: And then they supposedly let some people in to see that the gold existed in 2017.
[00:08:40] [SPEAKER_01]: Okay.
[00:08:41] [SPEAKER_01]: So it's been years and years.
[00:08:43] [SPEAKER_01]: So who knows what's actually happening with this gold?
[00:08:47] [SPEAKER_01]: In New York, the Federal Reserve holds a lot of gold.
[00:08:53] [SPEAKER_01]: This is supposed to be – it's not our gold.
[00:08:56] [SPEAKER_01]: It's actually the gold of other central banks.
[00:08:59] [SPEAKER_01]: It's like India's gold or Germany's gold.
[00:09:03] [SPEAKER_00]: It's on an exchange program is what you're saying.
[00:09:05] [SPEAKER_00]: We're just housing it?
[00:09:07] [SPEAKER_01]: Yes, exactly.
[00:09:09] [SPEAKER_01]: So they have these bars.
[00:09:10] [SPEAKER_01]: They do journal entries.
[00:09:12] [SPEAKER_01]: And a lot of this is all orchestrated by my favorite central bank villains, the Bank for International Settlements out of Basel, Switzerland.
[00:09:19] [SPEAKER_01]: So they actually have control over a lot of this gold that's held in these vaults even in the Federal Reserve.
[00:09:25] [SPEAKER_01]: So the whole gold, what they do with it, how they do leasing, like you can lease gold.
[00:09:31] [SPEAKER_01]: This is a big multibillion-dollar business.
[00:09:33] [SPEAKER_01]: So who's the real ownership?
[00:09:35] [SPEAKER_01]: This is what many people believe, that if you ever closed out the futures contracts, if you ever had the people that actually think they own gold say,
[00:09:43] [SPEAKER_01]: I want my gold, there's no way you'd be able to actually fulfill those deliveries.
[00:09:48] [SPEAKER_00]: Well, of course.
[00:09:49] [SPEAKER_00]: I mean, good old Peter, Peter that worked for JFK, said there was no gold in Fort Knox.
[00:09:57] [SPEAKER_00]: And this is in the 70s, why they would not let anyone in to ever evaluate it is they were hiding it.
[00:10:07] [SPEAKER_00]: They were hiding the fact that it wasn't there.
[00:10:09] [SPEAKER_00]: And so that's, you know, it's the big illusion, I think, that we have it.
[00:10:14] [SPEAKER_00]: And so to claim that we're on an exchange program, I'm sorry, why are we housing theirs and they're housing ours?
[00:10:19] [SPEAKER_00]: Are they housing ours?
[00:10:20] [SPEAKER_00]: I haven't heard the other countries talk like that.
[00:10:23] [SPEAKER_00]: But we're housing theirs?
[00:10:24] [SPEAKER_00]: That's kind of interesting.
[00:10:25] [SPEAKER_00]: Uncle Miltie?
[00:10:26] [SPEAKER_08]: Wasn't it about 10 years ago when Germany tried to get their gold and we couldn't give it to them?
[00:10:31] [SPEAKER_00]: And Russia put theirs on ships in 2016?
[00:10:34] [SPEAKER_00]: Yes.
[00:10:35] [SPEAKER_01]: This stuff is going on.
[00:10:37] [SPEAKER_01]: I mean, like I said, it's a tangled web.
[00:10:40] [SPEAKER_01]: And there is gold somewhere, supposedly, allegedly.
[00:10:43] [SPEAKER_01]: But like I said, the paper ownership rights, whether it's things like central banks or it's what the government claims are in our mint facilities,
[00:10:54] [SPEAKER_01]: like the answer is we have no idea how much gold there is, who owns it, where it is.
[00:10:59] [SPEAKER_01]: It's all a bunch of funny numbers because, like you said, they don't audit it.
[00:11:03] [SPEAKER_01]: They don't let people come in and see it.
[00:11:04] [SPEAKER_01]: They can't.
[00:11:05] [SPEAKER_01]: The real owners don't hold it.
[00:11:07] [SPEAKER_01]: They lease it out.
[00:11:08] [SPEAKER_01]: It's a mess.
[00:11:09] [SPEAKER_01]: Yes.
[00:11:09] [SPEAKER_01]: That's why owning physical gold is such a smart strategy for your own personal investment.
[00:11:15] [SPEAKER_00]: This is a good time to buy, don't you think?
[00:11:18] [SPEAKER_00]: A good time to buy.
[00:11:19] [SPEAKER_00]: Oh, yeah.
[00:11:19] [SPEAKER_00]: Yeah.
[00:11:20] [SPEAKER_00]: Okay.
[00:11:21] [SPEAKER_00]: So this Bitcoin bill then.
[00:11:24] [SPEAKER_00]: Let's go back to that.
[00:11:26] [SPEAKER_00]: They're hijacking Bitcoin.
[00:11:29] [SPEAKER_00]: You tell me.
[00:11:30] [SPEAKER_00]: Uncle Miltie?
[00:11:31] [SPEAKER_08]: You know, at the start of the bill, as you read it, there's a section called the findings of Congress.
[00:11:36] [SPEAKER_08]: And the experts, you know, the financial experts in Congress state quite plainly, I think, in part three,
[00:11:45] [SPEAKER_08]: just as gold reserves have been historically a cornerstone of national financial security,
[00:11:53] [SPEAKER_08]: Bitcoin represents a digital age asset capable of enhancing the fight.
[00:11:58] [SPEAKER_08]: Like, it sounds like they come right out and say, we're going to replace gold.
[00:12:03] [SPEAKER_00]: Yeah.
[00:12:03] [SPEAKER_00]: With Bitcoin.
[00:12:05] [SPEAKER_00]: The illusionary Bitcoin.
[00:12:06] [SPEAKER_00]: Hmm.
[00:12:08] [SPEAKER_01]: No, exactly.
[00:12:10] [SPEAKER_01]: If you read the bill, like you said, Miltie, they make all these declarations and statements of opinion as if they're fact.
[00:12:16] [SPEAKER_01]: Like, this is a, I mean, even the way they term it, the strategic Bitcoin reserve, Bitcoin is nothing.
[00:12:25] [SPEAKER_01]: I mean, how can you reserve?
[00:12:28] [SPEAKER_01]: It's software.
[00:12:29] [SPEAKER_01]: It's a software protocol.
[00:12:31] [SPEAKER_01]: I mean.
[00:12:32] [SPEAKER_01]: But they mine it.
[00:12:33] [SPEAKER_00]: They mine it, Mel.
[00:12:34] [SPEAKER_00]: They're like little miners.
[00:12:36] [SPEAKER_00]: They're going in and they're mining something.
[00:12:38] [SPEAKER_00]: We're going to come.
[00:12:39] [SPEAKER_00]: We're going to come right back.
[00:12:40] [SPEAKER_00]: It's like when you go to New York and you buy a stereo, but then you walk away with a heavy box and you get home and it's a box of rocks instead of the stereo.
[00:12:48] [SPEAKER_00]: I kind of feel this is coming on.
[00:12:50] [SPEAKER_00]: All right.
[00:12:50] [SPEAKER_00]: We'll be right back with Mel Madison.
[00:12:52] [SPEAKER_00]: MelMadison.com.
[00:12:53] [SPEAKER_00]: The book is Quasby.
[00:12:54] [SPEAKER_00]: Right back.
[00:12:55] [SPEAKER_00]: Don't go anywhere.
[00:12:56] [SPEAKER_00]: Kate Daly show.
[00:12:58] [SPEAKER_00]: That is probably coming.
[00:13:00] [SPEAKER_00]: And that is this warning.
[00:13:03] [SPEAKER_00]: When the transition takes place, fiat to crypto.
[00:13:07] [SPEAKER_00]: The Federal Reserve will be eliminated.
[00:13:10] [SPEAKER_00]: Could be eliminated.
[00:13:11] [SPEAKER_00]: And everyone will cheer.
[00:13:13] [SPEAKER_00]: Of course.
[00:13:13] [SPEAKER_00]: Everyone's going to cheer because, oh my gosh, who would not cheer over this?
[00:13:17] [SPEAKER_00]: However, just because the U.S. monetary system will be under the guardianship of the U.S. Treasury means little.
[00:13:22] [SPEAKER_00]: The illusion will continue digitally.
[00:13:26] [SPEAKER_00]: We'll have a lot of deceptions like this where we think are wins and they're not.
[00:13:30] [SPEAKER_00]: And it's very bizarre.
[00:13:31] [SPEAKER_00]: It's going to get really bizarre.
[00:13:32] [SPEAKER_00]: So I just wanted all of you, you know, please text 989898, that phone number.
[00:13:38] [SPEAKER_00]: And it's a phone number, six digits.
[00:13:42] [SPEAKER_00]: 989898.
[00:13:43] [SPEAKER_00]: And then text my name, Kate, and you'll get some free information about what's coming and how to safeguard yourself for everything.
[00:13:49] [SPEAKER_00]: Also, to buy gold and silver because those commodities actually work and are real and are actually, you can handle them.
[00:13:58] [SPEAKER_00]: And they retain value.
[00:13:59] [SPEAKER_00]: So you can stop the inflation on your accounts, your retirement, all of that, if you're going to back it with gold and silver, which can be free to do.
[00:14:07] [SPEAKER_00]: And Birch can walk you through that.
[00:14:09] [SPEAKER_00]: But Birch Gold has a really stellar reputation.
[00:14:11] [SPEAKER_00]: Ron Paul loves Birch Gold, talks about them all the time and does business with them, too.
[00:14:16] [SPEAKER_00]: So please go and text 989898.
[00:14:19] [SPEAKER_00]: Text my name, Kate, and get the free info.
[00:14:32] [SPEAKER_05]: Is the Kate Daly Show.
[00:14:44] [SPEAKER_06]: Pete slipped out and I fell down.
[00:14:50] [SPEAKER_06]: Fetched up in the river.
[00:14:52] [SPEAKER_00]: Prospecting dream.
[00:14:56] [SPEAKER_00]: Welcome back.
[00:14:56] [SPEAKER_00]: That's an oldie.
[00:14:58] [SPEAKER_00]: Welcome back.
[00:14:58] [SPEAKER_00]: Kate Daly Show.
[00:15:00] [SPEAKER_00]: Your service.
[00:15:01] [SPEAKER_00]: And, of course, Mel Madison joins us today.
[00:15:03] [SPEAKER_00]: Always fun with Mel and always scary with Mel, too, because he's usually talking economy and it doesn't look good for our economy coming up.
[00:15:12] [SPEAKER_00]: So, Mel, talk to us about all the scary wording in the Bitcoin bill and some things that you noticed in particular, because Mel is so good at this.
[00:15:21] [SPEAKER_00]: MelMadison.com.
[00:15:22] [SPEAKER_00]: M-A-T-T-I-S-O-N.
[00:15:25] [SPEAKER_00]: MelMadison.com.
[00:15:26] [SPEAKER_00]: But, Mel, please bring us up to speed in this bill.
[00:15:29] [SPEAKER_01]: Okay.
[00:15:30] [SPEAKER_01]: So, really quick, the gold that the Treasury holds, what happened is the Treasury gave certificates in the 1970s to the Federal Reserve so that the Federal Reserve could kind of claim this gold as a reserve on the dollar.
[00:15:47] [SPEAKER_01]: And the price was set in law at that time at $42.22 an ounce.
[00:15:54] [SPEAKER_01]: Actually, the law says $42.2 per ounce.
[00:15:59] [SPEAKER_01]: So, basically, $42.
[00:16:01] [SPEAKER_01]: And what this bill says is that in order to pay for this reserve, that the Federal Reserve is going to have to turn in all these gold certificates for all these 250 million ounces of gold that values gold at $40 an ounce.
[00:16:16] [SPEAKER_01]: And that the Treasury is going to get to set the new price of gold.
[00:16:21] [SPEAKER_01]: And that the Federal Reserve is essentially going to have to print dollars and then send whatever that dollar amount is between the old price and the new price immediately to the Treasury.
[00:16:32] [SPEAKER_01]: Now, with gold at $2,500 an ounce, that would be well over half a trillion dollars just sent automatically to the Treasury.
[00:16:42] [SPEAKER_01]: But what's even scarier in the bill is it says that that price, it doesn't have to be the market price at the time this happens.
[00:16:49] [SPEAKER_01]: It's what is considered any fair market price at any date that the Treasury Secretary specifies.
[00:16:56] [SPEAKER_01]: The Treasury Secretary could specify some future date and estimate the price to be $100,000 an ounce.
[00:17:03] [SPEAKER_01]: And the Fed would have to send $26 trillion to the government.
[00:17:06] [SPEAKER_00]: Well, phew.
[00:17:07] [SPEAKER_00]: I mean, I trust government.
[00:17:08] [SPEAKER_00]: So, we are in good hands.
[00:17:10] [SPEAKER_00]: Good hands.
[00:17:10] [SPEAKER_00]: All right, Uncle Miltie.
[00:17:11] [SPEAKER_08]: So, my question is, for every ounce of gold I have in my possession, if they say the gold is worth $100,000 an ounce, do they have to give that to me?
[00:17:24] [SPEAKER_08]: No.
[00:17:26] [SPEAKER_01]: Nobody can get that price.
[00:17:28] [SPEAKER_01]: It sounds fair, though.
[00:17:29] [SPEAKER_01]: Right now, the official price is $42 an ounce.
[00:17:32] [SPEAKER_01]: This is a made-up price.
[00:17:33] [SPEAKER_01]: This is the legal framework to take – okay, so right now there's this minor separation about printing money, right?
[00:17:43] [SPEAKER_01]: So, technically, Janet Yellen doesn't technically get to order the Fed to buy U.S. bonds.
[00:17:50] [SPEAKER_01]: There's this veneer of separation.
[00:17:53] [SPEAKER_01]: This removes that veneer because now the Treasury Secretary, a political appointee, you know, Janet Yellen at this point in time, for example,
[00:18:01] [SPEAKER_01]: now they get to set this price, and when they – there's a legal framework where they don't have to talk to the Federal Reserve.
[00:18:08] [SPEAKER_01]: This doesn't have to be approved by the Board of Governors.
[00:18:10] [SPEAKER_01]: This doesn't have to happen by Congress passing a new law.
[00:18:13] [SPEAKER_01]: This is essentially giving the Treasury Secretary unlimited money printing capability through a backdoor legal loophole.
[00:18:21] [SPEAKER_00]: So, what we have now, but added, illusionary digital money.
[00:18:27] [SPEAKER_00]: All done however they want to do it.
[00:18:29] [SPEAKER_00]: So, no control for the people, all control given to them.
[00:18:34] [SPEAKER_00]: Over payouts, what it's worth, everything.
[00:18:37] [SPEAKER_00]: Okay.
[00:18:37] [SPEAKER_01]: And what do the American people get in reserve?
[00:18:40] [SPEAKER_01]: We get a strategic reserve, right?
[00:18:42] [SPEAKER_01]: As if these are barrels of oil, as if these are gold bricks.
[00:18:46] [SPEAKER_01]: Like, this is no strategic reserve.
[00:18:48] [SPEAKER_00]: Okay, but we do get a cool name to a bill.
[00:18:50] [SPEAKER_00]: So, I have to – I got to put it out there for the cool name because it made me feel happy.
[00:18:55] [SPEAKER_00]: It's all America all the time, right?
[00:18:57] [SPEAKER_00]: So, that's good.
[00:18:58] [SPEAKER_00]: Said no one ever.
[00:18:59] [SPEAKER_00]: Miltie?
[00:19:00] [SPEAKER_08]: You didn't happen to notice anything kind of hidden in the bill that also says they can castrate all American men?
[00:19:06] I'm not kidding.
[00:19:09] [SPEAKER_01]: Well, that one – I think that one was scratched last minute.
[00:19:13] [SPEAKER_01]: Miltie, I think they put that out there.
[00:19:15] [SPEAKER_01]: Well –
[00:19:16] [SPEAKER_01]: They're going to be putting that in a new bill soon to be released.
[00:19:21] [SPEAKER_01]: They're still working on the acronym.
[00:19:27] [SPEAKER_00]: Castration for all.
[00:19:28] [SPEAKER_00]: It's a beautiful thing.
[00:19:30] [SPEAKER_00]: It's the GoNAD Act of 2024.
[00:19:36] [SPEAKER_00]: I'm sure G-O-N-A-D sounds for something beautiful.
[00:19:40] [SPEAKER_01]: Oh, yeah.
[00:19:40] [SPEAKER_01]: It's like gender opportunity and –
[00:19:44] [SPEAKER_01]: It's really fun making up these bill names.
[00:19:46] [SPEAKER_01]: I mean, maybe during the commercial break we can come up with what it stands for.
[00:19:50] [SPEAKER_01]: But, I mean, there is another thing they did sneak in there.
[00:19:53] [SPEAKER_01]: Oh, wait.
[00:19:54] [SPEAKER_00]: Okay.
[00:19:55] [SPEAKER_00]: Ten seconds.
[00:19:57] [SPEAKER_01]: We can get into it.
[00:19:59] [SPEAKER_00]: Okay, we'll get into it in just a moment.
[00:20:00] [SPEAKER_00]: Kate Daly Show.
[00:20:02] [SPEAKER_00]: KateDalyRadio.com.
[00:20:03] [SPEAKER_00]: Over 26 million.
[00:20:04] [SPEAKER_00]: Be right back with Mel Madison and Uncle Miltie.
[00:20:12] [SPEAKER_00]: Hey, everybody.
[00:20:13] [SPEAKER_00]: You can actually watch the show at Patriot.TV.
[00:20:17] [SPEAKER_00]: I just wanted to let you guys know that's where the show is now.
[00:20:20] [SPEAKER_00]: I used to be on Mike Lindell TV.
[00:20:23] [SPEAKER_00]: Now it's on Patriot.TV.
[00:20:25] [SPEAKER_00]: You can go there, subscribe for the year.
[00:20:27] [SPEAKER_00]: It's of really low cost.
[00:20:28] [SPEAKER_00]: You can put in Patriot.TV forward slash The Kate Daly Show.
[00:20:33] [SPEAKER_00]: Four words.
[00:20:34] [SPEAKER_00]: Patriot.TV forward slash The Kate Daly Show.
[00:20:38] [SPEAKER_00]: In fact, there are so many benefits, so many programs that you get to be a part of with your membership.
[00:20:43] [SPEAKER_00]: It really pays for itself.
[00:20:44] [SPEAKER_00]: So that's awesome.
[00:20:45] [SPEAKER_00]: That's awesome, right?
[00:20:46] [SPEAKER_00]: Also, we film the show every single day.
[00:20:49] [SPEAKER_00]: It's on in the evening, 8 o'clock Mountain, 10 o'clock Eastern.
[00:20:53] [SPEAKER_00]: And you can catch it every day.
[00:20:55] [SPEAKER_00]: And I really encourage you to do that.
[00:20:57] [SPEAKER_00]: There are many, many wonderful shows there that you're going to love.
[00:21:00] [SPEAKER_00]: My friend Sam Sorbo is there.
[00:21:01] [SPEAKER_00]: And the content is really good.
[00:21:04] [SPEAKER_00]: So go over to Patriot.TV.
[00:21:06] [SPEAKER_00]: Join Patriot.TV forward slash The Kate Daly Show.
[00:21:10] [SPEAKER_00]: Thanks, you guys.
[00:21:11] [SPEAKER_05]: This is The Kate Daly Show.
[00:21:53] [SPEAKER_06]: All right.
[00:21:54] [SPEAKER_00]: You know I'll play those kinds of songs on this show.
[00:21:57] [SPEAKER_00]: So welcome back.
[00:21:58] [SPEAKER_00]: I've got Uncle Miltie.
[00:21:59] [SPEAKER_00]: We have Mel Madison, and I'm loving that.
[00:22:03] [SPEAKER_00]: And I love that both of these guys are here.
[00:22:05] [SPEAKER_00]: Also, text Birch Gold and buy some gold and silver, please.
[00:22:08] [SPEAKER_00]: They can also tell you how to get $10,000 worth of free gold and silver.
[00:22:12] [SPEAKER_00]: You might want to check that out.
[00:22:13] [SPEAKER_00]: Also, when you text them, you're getting information from them.
[00:22:17] [SPEAKER_00]: So it's the number on your text.
[00:22:19] [SPEAKER_00]: The phone number is only six digits.
[00:22:22] [SPEAKER_00]: And it repeats.
[00:22:23] [SPEAKER_00]: 98-98-98.
[00:22:24] [SPEAKER_00]: And then you just text my name, Kate.
[00:22:26] [SPEAKER_00]: And they'll know exactly why you're texting them.
[00:22:29] [SPEAKER_00]: They'll send you back some free information.
[00:22:30] [SPEAKER_00]: You don't even have to talk to anybody.
[00:22:32] [SPEAKER_00]: They'll just send it back to you, and you can peruse it.
[00:22:34] [SPEAKER_00]: Do that right now for me.
[00:22:35] [SPEAKER_00]: I really am encouraging you to do that because the information is that good.
[00:22:38] [SPEAKER_00]: And I'm not going to tell you to do something that wouldn't benefit you.
[00:22:41] [SPEAKER_00]: So I'm telling you, Birch Gold is amazing.
[00:22:43] [SPEAKER_00]: Please do this one thing.
[00:22:46] [SPEAKER_00]: 98-98-98.
[00:22:48] [SPEAKER_00]: And text my name, Kate.
[00:22:49] [SPEAKER_00]: All right.
[00:22:51] [SPEAKER_00]: Do you have an acronym?
[00:22:52] [SPEAKER_08]: No, not quite.
[00:22:54] [SPEAKER_00]: Okay.
[00:22:54] [SPEAKER_00]: He's working on the gonad acronym.
[00:22:59] [SPEAKER_00]: Leave it to Melty.
[00:23:01] [SPEAKER_00]: Okay.
[00:23:02] [SPEAKER_00]: So, all right, Mel.
[00:23:04] [SPEAKER_00]: Let's continue on, shall we?
[00:23:06] [SPEAKER_00]: So my question to you on the break, I'll share this with everybody.
[00:23:10] [SPEAKER_00]: We don't know if Bitcoin was a CIA op that they were eventually going to control because
[00:23:15] [SPEAKER_00]: we don't really know where the origin of it came from.
[00:23:18] [SPEAKER_00]: And it's this mysterious gentleman who nobody really knows and yada, yada, yada.
[00:23:22] [SPEAKER_00]: And so my question to you, and we do have a caller, so I'll take the caller first, but
[00:23:27] [SPEAKER_00]: keep this in mind, Mel.
[00:23:28] [SPEAKER_00]: Are they pretending they don't have control so they're putting the bill out to make it
[00:23:32] [SPEAKER_00]: look like we still have the society we think we do?
[00:23:35] [SPEAKER_00]: Or do they seriously not control it?
[00:23:38] [SPEAKER_00]: What's your view on that?
[00:23:39] [SPEAKER_00]: But let me take the caller first.
[00:23:41] [SPEAKER_00]: Hi, caller.
[00:23:41] [SPEAKER_00]: Go right ahead.
[00:23:42] [SPEAKER_00]: You're live.
[00:23:43] [SPEAKER_07]: Hey, good afternoon.
[00:23:44] [SPEAKER_07]: You were talking about gold.
[00:23:45] [SPEAKER_07]: And I certainly recommend anybody with a brain, which you were talking about earlier, those
[00:23:50] [SPEAKER_07]: people with brains that have the capacity to reason, to put these physical metals in their
[00:23:57] [SPEAKER_07]: hand.
[00:23:58] [SPEAKER_07]: Now, I know that the government passed a law not too long ago that they had the ability
[00:24:02] [SPEAKER_07]: to seize any assets in any banks or any other stock brokerage account.
[00:24:08] [SPEAKER_07]: I wonder, why would anybody then in their right mind put their gold or silver into a
[00:24:14] [SPEAKER_07]: storage facility, which would be a whole lot easier for the government to seize, as opposed
[00:24:19] [SPEAKER_07]: to 300 and some odd million people's dresser drawers under the mattresses out back in the
[00:24:25] [SPEAKER_07]: mason jar or, you know, cast it into some kind of an ornament and put it out in your garden.
[00:24:30] [SPEAKER_07]: There you go.
[00:24:31] [SPEAKER_07]: They won't know what it is.
[00:24:31] [SPEAKER_07]: There you go.
[00:24:32] [SPEAKER_07]: It all looks like, you know, ceramic.
[00:24:34] [SPEAKER_00]: There you go.
[00:24:35] [SPEAKER_00]: Hey, not bad.
[00:24:35] [SPEAKER_00]: Not bad.
[00:24:36] [SPEAKER_00]: All right.
[00:24:37] [SPEAKER_00]: Mel, you want to tackle?
[00:24:39] [SPEAKER_01]: Well, no, I think it's an excellent point.
[00:24:42] [SPEAKER_01]: You know, I've made my first, I wouldn't call it super significant, but fairly large purchase
[00:24:48] [SPEAKER_01]: of physical gold and silver, you know, about almost 20 years ago now.
[00:24:53] [SPEAKER_01]: I've always been a proponent of owning physical.
[00:24:56] [SPEAKER_03]: Yes.
[00:24:56] [SPEAKER_01]: Because you never know what's going to happen.
[00:24:58] [SPEAKER_01]: They have these ETFs where they claim the gold is there.
[00:25:01] [SPEAKER_01]: Well, these are, again, these are in these vaults where they do leasing and they'll tell you
[00:25:05] [SPEAKER_01]: they don't do that.
[00:25:06] [SPEAKER_01]: But how do you know?
[00:25:07] [SPEAKER_01]: You don't.
[00:25:08] [SPEAKER_01]: And the thing with, you know, owning the physical, I mean, people could come back and
[00:25:13] [SPEAKER_01]: say, well, in 1933, the government banned gold and confiscated it.
[00:25:17] [SPEAKER_01]: Well, that's true.
[00:25:18] [SPEAKER_01]: They passed a law, but they didn't get it.
[00:25:20] [SPEAKER_01]: You know, you had to voluntarily turn it in.
[00:25:24] [SPEAKER_01]: And it was punishable by up to a year in prison, but most people didn't turn it in.
[00:25:29] [SPEAKER_01]: And you say, how do I know that?
[00:25:32] [SPEAKER_01]: Because after the fact they did studies, they knew how much gold the United States had minted.
[00:25:37] [SPEAKER_01]: They knew how much the gold the United States collected and then melted down.
[00:25:41] [SPEAKER_01]: And it was like 20, 25% of what they would have got if all the gold was actually turned
[00:25:46] [SPEAKER_01]: in.
[00:25:46] [SPEAKER_01]: So people held onto their gold, even in the United States passed a law and told them they couldn't.
[00:25:51] [SPEAKER_00]: And what else do you want to say about this bill and about the economy and what's going
[00:25:54] [SPEAKER_00]: on right now?
[00:25:56] [SPEAKER_01]: Well, just to come back to your first question before the caller about who owns Bitcoin or
[00:26:01] [SPEAKER_01]: who's behind this.
[00:26:03] [SPEAKER_01]: I think it's important, especially when you're talking about finance stuff, like, you know,
[00:26:07] [SPEAKER_01]: what's going to happen to the S&P 500 tomorrow?
[00:26:09] [SPEAKER_01]: I don't know.
[00:26:10] [SPEAKER_01]: You got to admit when you don't know something, I don't really know who created Bitcoin.
[00:26:14] [SPEAKER_01]: I don't know if it was the CIA.
[00:26:16] [SPEAKER_01]: I don't know if it was the NSA.
[00:26:17] [SPEAKER_01]: I don't know if it was the Satoshi Nakamoto or some computer genius.
[00:26:22] [SPEAKER_01]: And here's the thing.
[00:26:23] [SPEAKER_01]: Like, nobody, I think, really knows.
[00:26:25] [SPEAKER_01]: Or the people that do are, you know, deep in the deep state.
[00:26:30] [SPEAKER_01]: And they're, you know, there's no way to know.
[00:26:33] [SPEAKER_01]: Yeah.
[00:26:34] [SPEAKER_01]: So nobody really knows.
[00:26:36] [SPEAKER_01]: But I think what a bill like this shows is it shows that one way or another, the government's
[00:26:41] [SPEAKER_01]: going to control it, right?
[00:26:42] [SPEAKER_01]: Yes.
[00:26:42] [SPEAKER_01]: When the government gets their hands on a million Bitcoin and only 21 million Bitcoin
[00:26:47] [SPEAKER_01]: can ever be produced according to the protocol, supposedly.
[00:26:51] [SPEAKER_01]: But when you get your hands on such a large amount, that's 5%.
[00:26:55] [SPEAKER_01]: Imagine if the government just held, you know, look, they don't have, there are hundreds
[00:26:59] [SPEAKER_01]: and hundreds.
[00:27:00] [SPEAKER_01]: There's like a quadrillion trillion or a quadrillion dollars worth of wealth out there.
[00:27:05] [SPEAKER_01]: But the government can totally manipulate the world's economy by printing a trillion
[00:27:10] [SPEAKER_01]: here, a trillion there.
[00:27:11] [SPEAKER_01]: You don't need to control the whole thing.
[00:27:13] [SPEAKER_01]: If you control 5% and you can buy and sell 5% at any time of Bitcoin, you control the price.
[00:27:19] [SPEAKER_01]: Now the government controls it.
[00:27:21] [SPEAKER_01]: So anyone who's a true Bitcoiner who believes it was created to develop an alternative to
[00:27:27] [SPEAKER_01]: the current monetary system, the last thing they should want is for the Federal Reserve and
[00:27:31] [SPEAKER_01]: the Treasury to control the largest stockpile of Bitcoin.
[00:27:36] [SPEAKER_01]: And I think that differentiates between people that believe in the ethos of Bitcoin and people
[00:27:43] [SPEAKER_01]: that just want the price to go up so they can sell it and buy a new house.
[00:27:46] [SPEAKER_00]: We have a quick caller.
[00:27:47] [SPEAKER_00]: Go right ahead.
[00:27:48] [SPEAKER_00]: Caller, make it fast.
[00:27:50] [SPEAKER_10]: Yeah, I'll try to.
[00:27:51] [SPEAKER_10]: Mel, would you talk about the source of inflation?
[00:27:53] [SPEAKER_10]: The vast majority of voters voting for either Trump or planning on voting for Trump or Biden.
[00:27:58] [SPEAKER_10]: I don't understand it.
[00:28:00] [SPEAKER_10]: These two presidents gave us a 24% decrease in a value of our dollars since 2016.
[00:28:11] [SPEAKER_10]: Would you talk about how inflation is actually the increase in the money supply?
[00:28:17] [SPEAKER_10]: The increase in money supply is mainly rooted and out of control spending by the Congress
[00:28:23] [SPEAKER_10]: and that it's paying for the debt and that actually Trump inflation was twice as much as Biden
[00:28:30] [SPEAKER_10]: and they're both two of the worst presidents.
[00:28:32] [SPEAKER_00]: Okay, but Biden's not running.
[00:28:33] [SPEAKER_00]: It's Hormala.
[00:28:35] [SPEAKER_00]: But go ahead.
[00:28:35] [SPEAKER_00]: Go ahead, Mel.
[00:28:37] [SPEAKER_01]: Sure.
[00:28:37] [SPEAKER_01]: So look, you know, you're being generous by saying it created a 24% inflation because
[00:28:42] [SPEAKER_01]: that's the government statistics.
[00:28:43] [SPEAKER_01]: I'm sure you would agree with me.
[00:28:45] [SPEAKER_01]: Those statistics aren't right.
[00:28:46] [SPEAKER_01]: The true inflation in the last four years is much more than that.
[00:28:49] [SPEAKER_01]: Look at home prices.
[00:28:50] [SPEAKER_01]: Look at grocery prices.
[00:28:51] [SPEAKER_01]: It's somewhere 30%, 50%, 60% in the last four years.
[00:28:54] [SPEAKER_01]: So yes, they destroyed half the value of the dollar in a matter of years.
[00:29:00] [SPEAKER_01]: Now, how I look at it, and this is going to be a great guest you have coming up from the Mises Institute, Kate.
[00:29:06] [SPEAKER_01]: You know, they're going to talk about this.
[00:29:08] [SPEAKER_01]: Mises, for people that don't know, he's an Austrian economist who essentially brought back sound money economics
[00:29:16] [SPEAKER_01]: into this crazy left-wing progressive economic milieu that existed before him.
[00:29:23] [SPEAKER_01]: And he basically brought it all down to the money supply.
[00:29:26] [SPEAKER_01]: So, I mean, this gets into the Federal Reserve.
[00:29:28] [SPEAKER_01]: The Federal Reserve used to have people in charge who cared about the money supply.
[00:29:32] [SPEAKER_01]: They don't care about the money supply anymore.
[00:29:34] [SPEAKER_01]: They talk about what they call Odyssean and Delphic monetary policy.
[00:29:39] [SPEAKER_01]: It's all about what they say.
[00:29:41] [SPEAKER_01]: If they say that they're going to cut rates, it doesn't matter if they cut rates or not.
[00:29:46] [SPEAKER_01]: Whatever they say, it's Odyssean.
[00:29:48] [SPEAKER_01]: It's about the journey, and it's Delphic.
[00:29:50] [SPEAKER_01]: It's about prophesizing.
[00:29:52] [SPEAKER_01]: They don't look at the money supply.
[00:29:53] [SPEAKER_01]: The money supply is what determines inflation.
[00:29:56] [SPEAKER_01]: That's what the Mises Institute is all about.
[00:29:58] [SPEAKER_01]: And, you know, if you look at the money supply, it's spiked massively with all the COVID printing.
[00:30:04] [SPEAKER_01]: And then it had a little dip.
[00:30:05] [SPEAKER_01]: When something goes up as much as it did, it has this little dip.
[00:30:08] [SPEAKER_01]: We had that little dip about a year ago.
[00:30:10] [SPEAKER_01]: And that's why inflation is back down.
[00:30:12] [SPEAKER_01]: But about a year ago, the money supply started increasing again.
[00:30:16] [SPEAKER_01]: But it happens on a lag.
[00:30:18] [SPEAKER_01]: And this is why in 2025, you know, it doesn't matter who's president.
[00:30:22] [SPEAKER_01]: It doesn't matter what their policies are.
[00:30:23] [SPEAKER_01]: The money supply started growing again about a year ago.
[00:30:27] [SPEAKER_01]: Inflation is dipping because money supply dropped, started dropping about two years ago.
[00:30:31] [SPEAKER_01]: That's why inflation went down.
[00:30:33] [SPEAKER_01]: The money supply, it leads.
[00:30:35] [SPEAKER_01]: And that's what tells you about inflation.
[00:30:37] [SPEAKER_01]: It's very simple.
[00:30:38] [SPEAKER_01]: How much money is there?
[00:30:39] [SPEAKER_01]: More money chasing the same amount of goods and services.
[00:30:42] [SPEAKER_01]: You get inflation.
[00:30:44] [SPEAKER_00]: There you go.
[00:30:45] [SPEAKER_00]: Milty?
[00:30:46] [SPEAKER_08]: It's sad.
[00:30:47] [SPEAKER_00]: It's sad.
[00:30:48] [SPEAKER_08]: Thank you.
[00:30:48] [SPEAKER_08]: But I have the acronym.
[00:30:49] [SPEAKER_08]: Okay.
[00:30:50] [SPEAKER_08]: What is it?
[00:30:50] [SPEAKER_08]: We've got to go to break.
[00:30:51] [SPEAKER_08]: We're going at gender opportunity and normalization of androgynous dismembering.
[00:30:58] [SPEAKER_00]: Thank you.
[00:30:59] [SPEAKER_00]: Thank you for making that appear beautiful.
[00:31:02] [SPEAKER_00]: Thank you.
[00:31:03] [SPEAKER_00]: I really appreciate that.
[00:31:04] [SPEAKER_00]: Be right back.
[00:31:06] [SPEAKER_00]: Kate Dallish.
[00:31:06] [SPEAKER_03]: Approved.
[00:31:12] [SPEAKER_00]: Listen up, folks.
[00:31:14] [SPEAKER_00]: Activatefiq.com.
[00:31:15] [SPEAKER_00]: F as in Frank.
[00:31:17] [SPEAKER_00]: I-Q.
[00:31:19] [SPEAKER_00]: Activatefiq.com.
[00:31:20] [SPEAKER_00]: They have a brand new histamine.
[00:31:21] [SPEAKER_00]: It's all natural for the season of allergies, which you may be experiencing already.
[00:31:26] [SPEAKER_00]: They also have a sleep product that is amazing, and it does not leave you feeling hung over
[00:31:31] [SPEAKER_00]: the next day, which is really nice.
[00:31:33] [SPEAKER_00]: It's so natural, and it absorbs into your body, and it helps you kind of drift off to
[00:31:38] [SPEAKER_00]: sleep rather quickly.
[00:31:39] [SPEAKER_00]: And, of course, anxiety.
[00:31:41] [SPEAKER_00]: They have an anxiety product that is amazing for those of you that experience anxiety.
[00:31:46] [SPEAKER_00]: Once in a while, I even get that.
[00:31:47] [SPEAKER_00]: So I absolutely love this product, and I love all their products.
[00:31:51] [SPEAKER_00]: Their Holsey is amazing.
[00:31:53] [SPEAKER_00]: Their copper and magnesium, everyone should be taking that.
[00:31:56] [SPEAKER_00]: And also, cod liver oil and beef liver actually helps your blood circulation.
[00:32:01] [SPEAKER_00]: There's so many things they have there, and the absorption quality is amazing.
[00:32:06] [SPEAKER_00]: Do not buy over-the-counter supplements.
[00:32:09] [SPEAKER_00]: Please do me that favor.
[00:32:10] [SPEAKER_00]: Go to Activatefiq.com.
[00:32:12] [SPEAKER_00]: Get them cheaper.
[00:32:13] [SPEAKER_00]: Use the code Kate.
[00:32:14] [SPEAKER_00]: You're going to love me for this one because the products are that good, and they absorb
[00:32:17] [SPEAKER_00]: into the body.
[00:32:18] [SPEAKER_00]: It's how the product is made is what is important.
[00:32:22] [SPEAKER_00]: Activatefiq.com.
[00:32:23] [SPEAKER_00]: Code word Kate.
[00:32:24] [SPEAKER_05]: This is the Kate Daly Show.
[00:32:37] [SPEAKER_09]: Gather round.
[00:32:38] [SPEAKER_09]: I'm here to give you anything you like.
[00:32:40] [SPEAKER_09]: You want free college, energy, mortgages?
[00:32:43] [SPEAKER_09]: Whatever you like.
[00:32:45] [SPEAKER_09]: You have come to the right place.
[00:32:47] [SPEAKER_09]: Why?
[00:32:47] [SPEAKER_09]: I'll tell you why.
[00:32:51] [SPEAKER_09]: Who can take your money?
[00:33:00] [SPEAKER_09]: Give it to some other guy.
[00:33:01] [SPEAKER_09]: Love this song.
[00:33:05] [SPEAKER_09]: That the government can't.
[00:33:07] [SPEAKER_00]: That the government can't.
[00:33:07] [SPEAKER_00]: That the government can't.
[00:33:07] [SPEAKER_00]: Welcome back.
[00:33:08] [SPEAKER_00]: You're listening to the Kate Daly Show.
[00:33:10] [SPEAKER_00]: I can't believe her at the end of the show today.
[00:33:11] [SPEAKER_00]: It went so fast.
[00:33:13] [SPEAKER_00]: And we have Mel Madison joining us.
[00:33:15] [SPEAKER_00]: That was Tim Hawkins, by the way.
[00:33:17] [SPEAKER_00]: We have Mel Madison joining us, and we'll talk a little bit about inflation.
[00:33:21] [SPEAKER_00]: We'll talk a little bit about economy.
[00:33:23] [SPEAKER_00]: And you don't have a crystal ball.
[00:33:25] [SPEAKER_00]: I just want to make that known.
[00:33:26] [SPEAKER_00]: So, Mel, you know, sorry about that, that you don't have your crystal ball out.
[00:33:30] [SPEAKER_00]: But you do have a lot to say about this because of some of the things that we went through,
[00:33:34] [SPEAKER_00]: what we went through yesterday.
[00:33:36] [SPEAKER_00]: Might want to comment on that.
[00:33:37] [SPEAKER_00]: What you're kind of looking at happening.
[00:33:40] [SPEAKER_00]: Because you were the one picking up on Japan's economy, and no one else was talking about that.
[00:33:45] [SPEAKER_00]: I love that you did that, by the way.
[00:33:47] [SPEAKER_01]: Yeah, exactly.
[00:33:48] [SPEAKER_01]: So, what started happening in the middle of July was what they call the unwind of the carry trade.
[00:33:54] [SPEAKER_01]: And it's not to get too complicated here.
[00:33:57] [SPEAKER_01]: It's actually kind of simple.
[00:33:58] [SPEAKER_01]: It's just, you know, Japan basically had negative or zero interest rates.
[00:34:03] [SPEAKER_01]: And all these hedge funds and people were borrowing money in Japan, borrowing yen at 0% interest.
[00:34:11] [SPEAKER_01]: And then they were changing it into dollars, and they were buying things like Bitcoin, NVIDIA stock,
[00:34:17] [SPEAKER_01]: you know, S&P 500 futures, you know, buying all the high-flying, you know, AI names, stuff like that.
[00:34:24] [SPEAKER_01]: But what happened was, and what I warned about on Tuesday,
[00:34:28] [SPEAKER_01]: because I knew the Bank of Japan was having a meeting on Wednesday, as was the Federal Reserve,
[00:34:33] [SPEAKER_01]: that the Federal Reserve is going to signal that they're going to be cutting rates.
[00:34:36] [SPEAKER_01]: And the Bank of Japan, nobody knew this for sure,
[00:34:39] [SPEAKER_01]: but it was thought that they were going to actually raise rates.
[00:34:42] [SPEAKER_01]: Now, they raised rates the same day that the Fed said they're going to start cutting rates, basically.
[00:34:48] [SPEAKER_01]: This divergence, what that does is that makes the yen get stronger and the dollar get weaker.
[00:34:55] [SPEAKER_01]: And so all these people that were borrowing in yen now all of a sudden realize,
[00:34:59] [SPEAKER_01]: like, they're going to have to pay back those debts in yen.
[00:35:03] [SPEAKER_01]: And they thought that they were going to be able to actually sell those dollars for even more yen
[00:35:09] [SPEAKER_01]: than they borrowed in the first place and make money on the currency move.
[00:35:14] [SPEAKER_01]: And so basically, this reversed that.
[00:35:16] [SPEAKER_01]: And once it started, what happens is, is all these guys that do this type of thing, they lever up.
[00:35:21] [SPEAKER_01]: And when you lever up and you're like 5, 10, 15 times leverage, and you lose money, which is what happened,
[00:35:28] [SPEAKER_01]: you have no choice.
[00:35:30] [SPEAKER_01]: You have to just start selling everything you own.
[00:35:32] [SPEAKER_01]: You have to start selling your NVIDIA, selling your Bitcoin, selling everything.
[00:35:35] [SPEAKER_01]: And everything just starts crashing, basically.
[00:35:39] [SPEAKER_01]: But what happened is, and I tweeted about this on Sunday night at Mel Madison 1.
[00:35:45] [SPEAKER_01]: I basically was like, look, this is a mechanical, unwanted carry trade.
[00:35:49] [SPEAKER_01]: I talked about it on the Kate Daly show last week.
[00:35:52] [SPEAKER_01]: This is not the dollar collapsing and the world coming to an end.
[00:35:57] [SPEAKER_01]: And I was buying stuff Sunday night, Monday morning, as I mentioned in these tweets.
[00:36:03] [SPEAKER_01]: And I closed out a lot of those positions.
[00:36:05] [SPEAKER_01]: But when I was buying this stuff, it's already up 15%, 20%.
[00:36:08] [SPEAKER_01]: Like, you know, in 48 hours, you make 20% on your money.
[00:36:11] [SPEAKER_01]: Because when these types of crashes happen, you know, they happen quick.
[00:36:15] [SPEAKER_01]: And this is just what I did with my own money.
[00:36:17] [SPEAKER_01]: I'm a sophisticated investor.
[00:36:19] [SPEAKER_01]: I've been in the business for decades.
[00:36:20] [SPEAKER_01]: You know, I'm not recommending that someone that doesn't know what they do starts entering into these types of phrase, you know, willy-nilly.
[00:36:28] [SPEAKER_01]: So it's dangerous.
[00:36:29] [SPEAKER_01]: But this was not the beginning of the big collapse.
[00:36:32] [SPEAKER_01]: The big collapse, as I talk about all the time, it's going to be when the problem is not with hedge funds borrowing too much money in yen.
[00:36:40] [SPEAKER_01]: It's going to be when people realize the United States government is essentially insolvent.
[00:36:46] [SPEAKER_01]: And you're going to see dysfunction in the treasury market.
[00:36:49] [SPEAKER_01]: You're going to see, you know, people bought treasury bonds.
[00:36:52] [SPEAKER_01]: If people are flying into the dollar, if people are buying treasury bonds, that's basically saying everybody is still trusting the system and the old playbook.
[00:37:01] [SPEAKER_01]: It's when people stop trusting, when investors and market participants stop trusting the system and stop buying dollars and stop buying treasuries when something scary happens.
[00:37:11] [SPEAKER_01]: That's when we know the end is near.
[00:37:13] [SPEAKER_08]: Ooh.
[00:37:14] [SPEAKER_08]: Melty?
[00:37:14] [SPEAKER_08]: Mel, doesn't it usually take some insider knowledge to be able to buy when something rebounds that quickly?
[00:37:22] [SPEAKER_00]: Hmm.
[00:37:23] [SPEAKER_00]: Like Martha Stewart kind of intuition?
[00:37:26] [SPEAKER_00]: Like that?
[00:37:31] [SPEAKER_01]: It's tricky to find the right instruments to do these things because, you know, this is like kind of inside baseball, but I mean, stuff like on options, like the volatility just gets blown out.
[00:37:42] [SPEAKER_01]: And then you also get these really wide, like bid-ask spreads, like the difference between what someone's willing to pay to buy it and what someone's willing to pay if they're selling it.
[00:37:51] [SPEAKER_01]: And so you get a lot of this dysfunction.
[00:37:53] [SPEAKER_00]: You have to do it in certain...
[00:37:54] [SPEAKER_00]: Okay, go ahead.
[00:37:55] [SPEAKER_00]: Sorry.
[00:37:56] [SPEAKER_00]: Go ahead.
[00:37:56] [SPEAKER_01]: The bid-ask, the difference would be like someone saying, I'll buy NVIDIA for $100 a share.
[00:38:02] [SPEAKER_01]: But then on the other side of the market, somebody is saying, well, I'll sell NVIDIA for $105.
[00:38:08] [SPEAKER_01]: And there's a wide difference.
[00:38:09] [SPEAKER_01]: Like you need that spread.
[00:38:11] [SPEAKER_00]: I had something envisioned in my mind totally different.
[00:38:13] [SPEAKER_00]: Thank you for clearing that up.
[00:38:15] [SPEAKER_01]: Oh, okay.
[00:38:16] [SPEAKER_01]: Okay, bid-ask.
[00:38:17] [SPEAKER_01]: Okay, I got you.
[00:38:18] [SPEAKER_01]: I got you.
[00:38:18] [SPEAKER_01]: No, no, no.
[00:38:19] [SPEAKER_01]: That's part of the GoNet Act.
[00:38:24] [SPEAKER_01]: Like that.
[00:38:25] [SPEAKER_00]: B-ask.
[00:38:26] [SPEAKER_00]: Like that.
[00:38:27] [SPEAKER_00]: I thought it was more like that.
[00:38:27] [SPEAKER_00]: You go ahead.
[00:38:28] [SPEAKER_00]: Go ahead.
[00:38:29] [SPEAKER_00]: Sorry.
[00:38:29] [SPEAKER_00]: Just my mind.
[00:38:30] [SPEAKER_01]: It's tricky to do it.
[00:38:32] [SPEAKER_01]: You know, like let's say Monday morning.
[00:38:34] [SPEAKER_01]: Like what did you have to do?
[00:38:36] [SPEAKER_01]: What did I do?
[00:38:37] [SPEAKER_01]: Well, look, there are these things that are crazy.
[00:38:40] [SPEAKER_01]: You know, they're levered ETFs, right?
[00:38:42] [SPEAKER_01]: So, they're not options where the volatility is blown out.
[00:38:46] [SPEAKER_01]: And, you know, you can buy a TQQQ, like a triple levered NASDAQ ETF.
[00:38:52] [SPEAKER_01]: And, you know, you can start buying those at 4 a.m. in the morning.
[00:38:56] [SPEAKER_01]: They trade pre-market.
[00:38:57] [SPEAKER_01]: The QQQ ETF itself trades 24 hours a day.
[00:39:01] [SPEAKER_01]: You can be buying and selling that at 2 o'clock in the morning.
[00:39:04] [SPEAKER_01]: So, you know, there are ways to get into these things where you're not like kind of buy options.
[00:39:09] [SPEAKER_00]: I want the QQQ Pelosi move.
[00:39:10] [SPEAKER_00]: I mean, I want to know how to make $300 million from a sitting congressman's point of view or, you know, salary.
[00:39:19] [SPEAKER_00]: So, yeah.
[00:39:20] [SPEAKER_00]: Hmm.
[00:39:21] [SPEAKER_00]: Anyway.
[00:39:22] [SPEAKER_00]: It is.
[00:39:23] [SPEAKER_00]: So, there's all kinds of different ways to get in, to make things happen for yourself, in other words.
[00:39:29] [SPEAKER_00]: Yeah.
[00:39:29] [SPEAKER_01]: And this plays exactly into the hands because what this does is it now gives the green light for the Federal Reserve
[00:39:36] [SPEAKER_01]: to begin an aggressive rate-cutting policy at their next meeting in September.
[00:39:42] [SPEAKER_01]: And what that's doing, it's already started lowering things like mortgage rates.
[00:39:46] [SPEAKER_01]: And I'm sure you're going to see TV commercials about how Kamala and Joe are saving the economy and making homes affordable again.
[00:39:53] [SPEAKER_00]: But prices go up when that happens because then people go, oh, I can go buy it because the rate's low.
[00:39:58] [SPEAKER_00]: Then all of a sudden, bidding wars come back, right?
[00:40:01] [SPEAKER_00]: So, the house prices go up, actually.
[00:40:04] [SPEAKER_01]: Yeah.
[00:40:04] [SPEAKER_01]: When that happens.
[00:40:04] [SPEAKER_01]: The home builder stocks are up big today.
[00:40:06] [SPEAKER_01]: Yeah.
[00:40:06] [SPEAKER_01]: Oh, yeah.
[00:40:07] [SPEAKER_00]: And then, of course.
[00:40:08] [SPEAKER_01]: Everybody makes money, Kate.
[00:40:09] [SPEAKER_01]: Oh, I know.
[00:40:10] [SPEAKER_01]: It's all a game until it crashes down, right?
[00:40:11] [SPEAKER_01]: And especially Congress.
[00:40:12] [SPEAKER_00]: Yes.
[00:40:13] [SPEAKER_00]: Especially Congress.
[00:40:15] [SPEAKER_00]: Because they're cockroaches.
[00:40:17] [SPEAKER_00]: They're gnats on the end of a cockroach.
[00:40:20] [SPEAKER_00]: So, just real quick, did you want to comment?
[00:40:22] [SPEAKER_00]: Because we only have 30 seconds.
[00:40:23] [SPEAKER_00]: Did you want to comment on the stock going up for Lockheed?
[00:40:30] [SPEAKER_01]: Yeah.
[00:40:31] [SPEAKER_01]: I've been busy with so much finance stuff going on these days.
[00:40:35] [SPEAKER_01]: But that spiked.
[00:40:36] [SPEAKER_01]: And this is just another example of this Israel-Israeli thing.
[00:40:42] [SPEAKER_00]: Very telling.
[00:40:43] [SPEAKER_01]: They're throwing stuff at us through a fire hose, so nobody can pay attention to all the
[00:40:47] [SPEAKER_01]: details, like the Bitcoin bill or whatever.
[00:40:49] [SPEAKER_00]: 60 cents.
[00:40:49] [SPEAKER_00]: It went 60 cents to 424, right?
[00:40:51] [SPEAKER_00]: So, dollars.
[00:40:52] [SPEAKER_00]: So, big jump.
[00:40:54] [SPEAKER_00]: Big jump.
[00:40:54] [SPEAKER_00]: Lots of Congresspersons made a lot of money.
[00:40:57] [SPEAKER_03]: Mm-hmm.
[00:40:57] [SPEAKER_00]: Mm-hmm.
[00:40:58] [SPEAKER_00]: Anyway, little cockroaches made out.
[00:41:01] [SPEAKER_00]: All right.
[00:41:01] [SPEAKER_00]: Mel Madison.
[00:41:02] [SPEAKER_00]: Go to melmadison.com for more.
[00:41:04] [SPEAKER_00]: Follow him on X.
[00:41:05] [SPEAKER_00]: Get the book on audio.
[00:41:06] [SPEAKER_00]: It's called Quaz, Q-U-O-Z.
[00:41:08] [SPEAKER_00]: Thank you, Uncle Miltie.
[00:41:09] [SPEAKER_00]: Thank you, Mel.
[00:41:10] [SPEAKER_00]: Be faithful.
[00:41:11] [SPEAKER_00]: Be fearless out there.
[00:41:12] [SPEAKER_00]: Tell the truth, you guys.
[00:41:13] [SPEAKER_00]: See you tomorrow.