Lance Wallnau and Birch Gold Group

Now, sometimes I wonder about whether or not the general audience that listens to these broadcasts, podcasts, and various messages really knows what to pay attention to, because there’s so many mechanisms crying out for attention, and so many bizarre theories that people get lost in. The real story happening right now is the government potential shutdown, the deadlock that’s happening in Washington, because we have a $33 trillion debt. We are, that debt, we just live with, we shrug our shoulders, because these special interests, big business and politicians could care less about the fact that that’s the Titanic, that’s the iceberg, the Titanic is the United States, we’re heading into it.

Now they’ve got $2 trillion more, not one, but $2 trillion a year, shoulders shrugged, so what, big deal. The whole world just had a meeting on how to create an alternative financial system in anticipation of the collapse of the dollar, and you’re not aware of that. We’re in a world where we’re almost living in an unreal bubble.

I want to burst the bubble today, and tell you that you can prepare for this coming storm, there’s ways to deal with it, and knowledge is power. My people are destroyed for lack of knowledge, that’s one of the verses in the Bible. You need to be conversant on this, I’m gonna be talking to Philip Patrick today, I bring him on periodically, I want to talk to him today about the prophecy of Haggai, about the gold is mine, the silver is mine, I want to talk about what’s happening with 30 nations getting together to collapse the dollar, what will it look like, what’s the time period, and what’s the best way to prepare? This is an infinitely important subject.

Today I just realized that if America goes down, then the vaccine cards, the forced, the loss of currency, everything going digital, it accelerates that whole end time scenario, and I think that we can control, we can put brakes on what the enemy wants to do, if we’re informed, and I certainly want you prepared. Therefore strap on your seatbelt, because we’re gonna jump right into Philip Patrick, and discuss what’s going on in the world of economics, and how it’s about to show up on your doorstep. Let’s take it.

Welcome, welcome to the Lance Wallnau Show, I want you to know I’ve just returned from the Middle East, and it’s still there. The other big update that you need to know about is when I was out of town, evidently the whole government goes crazy, and it has to happen when I’m out of town, I want to cover the news while it’s happening, the news cycle happens when I’m not there. Matt Getz had a brilliant exchange with Maria Bartiroma.

I want to bring on my friend Philip Patrick, the authority on all things economic, and what’s going on with the markets out there. Philip, welcome to the Lance Wallnau Show. Thank you so much for having me back.

It’s good to see you my friend, and you always have that great kind of, I’d say the masculine dark doors behind you. Is it too disclosing to ask what part of the world are you broadcasting from? We are, I’m in Los Angeles, California is where I am. Oh, okay.

That’s where my masculine backdrop is. I thought it was maybe England. And okay, the accent throws me off.

I’m not good with accents either, so. So here’s my question for you. When I’m gone, did you see the Matt Getz interview with Maria? I mean, Bannon had it on, what’s his name? Charlie Kirk had it on.

I was gonna say Ted Cruz, but did you see that exchange at all? Because I might stick a little bit of it in here if you didn’t see it. Did you see it? Yeah, I didn’t catch it. I’d love to hear it.

Oh, thank you. I’m glad I get to respond to your monologue because if you’re saying that I’m standing in the way of all the Republican wins, I’d love you to enumerate them. Watching my friend and mentor Jim Jordan, it was quite painful because he started by saying we should only pick one fight, the border.

But then as the interview went on, he said, well, we should pick a second fight, Jack Smith. And by the time the interview rounded out, he was saying that we shouldn’t be funding Ukraine without a plan. And yet the very continuing resolution that you and Jim Jordan seemed to be for continues to have $300 million more for Ukraine.

So I think we ought to fight on all fronts. I think the border is very important. And the best way for us to advance the Republican border policies is to pass the Department of Homeland Security appropriations bill.

Do that along with veterans, defense, ag, state and foreign ops. We’ll have 73% of the discretionary budget funded. And if the Department of Labor and Education have to shut down for a few days as we get their appropriations in line, that’s certainly not something that is optimal, but I think it’s better than continuing on the current path we are to America’s financial ruin.

Congressman, I understand. And that is why you are on this program this morning, because I wanna give you a fair shot and I wanna get you heard. So tell me why you are threatening Speaker McCarthy and trying to shut down this government at a time that the Republicans have finally gotten some upper hands here in terms of wins, able to investigate President Biden on what looks like bribery.

Yeah, we don’t put our pencils down in the investigation of President Biden during a shutdown. So the premise is false. Second, if Kevin McCarthy was actually serious about pursuing the Bidens, he would have sent Hunter Biden a subpoena by now.

That’s how you know this is sort of failure theater that you’re observing. During the first year of Democrat control of the Congress, they brought in Donald Trump Jr. three times over nothing, over a nothing burger. And so we seem to be fundamentally unserious in our oversight.

But what is serious is the fact that we are spending more than $7 trillion a year bringing in around $5 trillion a year. And I wanna fund the government. I’m not pro shutdown, but the way to fund the government is not the same way we’ve been doing it since the mid 90s, where it’s one up or down vote on the entire government all at once.

We should have separate single subject spending bills. Kevin McCarthy promised that in January. He is in breach of that promise.

So I’m not here to hold the government hostage. I’m here to hold Kevin McCarthy to his word. I turn it over to you, Phillip.

Is he overstating the case? Because he’s the only guy out there that seems to sound like he’s got his head screwed on right. I mean, you’re absolutely right. And the fact that we’re even questioning whether we should be questioning spending is just bananas in on itself.

Look, the US is in a very tough situation. We now have $33 trillion of debt and we’re here facing a government shutdown over $120 billion difference, right? Whether the budget’s 1.47 or 1.59. You know, we’re debating whether we should spend $120 billion more. Nobody’s talking about reducing this $33 trillion of debt, right? Government spending is absolutely out of control.

We’ve been fueling inflation. We’ve been incentivizing countries around the world to start dumping the dollar via devaluation. Spending has to stop and it has to stop now.

It is the most important debate we should be having today as American citizens. So no, he’s absolutely right to bring up spending. And the point that he’s making, Phillip, is you understand that this is the most serious issue you could possibly be dealing with and the reason why the government isn’t doing it, the reason why they created a system where they game it so that you have to give them this approval to go ahead and fund, he said it’s because the donor class, the people that have an interest in a national debt serving them are paying off, in a sense, the politicians to not push the issue of adjusting these budgets.

So in a sense, there’s special interests and political reasons why the uninformed American is actually being set up for a fiscal disaster. So my question for you is, before we go further in this interview, you have always been, for me, the one who talks about how can we protect ourselves, and we’re gonna go into the de-dollarization and BRICS in a minute, but do you still feel strong about gold and about the precious minerals and stuff? Is that still your position? I feel stronger about precious metals today than I did six months ago, a year before that, because the more mess we get ourselves into, the more, sadly, the more conducive climate we create for precious metals. So remember something about gold and silver, and particularly gold, it’s about wealth preservation, preservation of buying power.

And in an era when inflation is rising, when currency is being devalued by sitting in dollars, we’re feeling the effect of that, and the effect is very clear. The dollar has lost 17% of its purchasing power since the start of the pandemic alone. The problems are getting worse, not better.

The more inflation we fuel, the more dollars we devalue, the better the argument is for gold. And look at central governments. I know we’ll talk about de-dollarization later, but central governments last year, this year, buying more gold than any other years in history.

What applies to them applies to us, just, of course, on a smaller scale. All right, so let’s be clear about this. The world looks, it’s such a Greek tragedy.

The Bible says something interesting, Philip. It says, with much wisdom comes much grief. And one of the challenges our audience has is I want to inform them and find the empowering meaning in what’s taking place.

But I gotta tell you, the more information I have, the more grief it produces. So for instance, America has a strong dollar compared to these other economies. If they could gut us, if they could destroy us, they just met in South Africa in order to send a message to us.

Some 30 nations and there’s another 20 that are ready to line up. They would love to pluck the feathers off the eagle and watch us squirm and melt down in 32 to 35, or who knows what the unfunded liabilities bring us. But in trillions of dollars of our own debt while they go march on and prosper, they wouldn’t care about that.

And the average American will turn around and get mad at their government and their country. It’s too late because the government did this. And what’s sad is a little bit of fiscal discipline from the Biden administration, we can command the global economy because they’re not ready for America to step off the scene unless America commits suicide, which is what it’s doing.

If we only had fiscal discipline to get our house in order, the BRICS nations wouldn’t be talking the way they’re talking because the dollar dominates some 40 or 43% of the global transactions. That’s the only reason we aren’t sinking right now is that we’re too infused in the global market for them to pull it off. But they’ve made their intention clear, haven’t they, Philip? You are absolutely spot on.

And for me, this is our biggest problem, right? We talk about inflation, we talk about potential recession on the horizon. These things are cyclical. We’ll get a president in at some point that’ll put us on a better trajectory and we’ll fix these problems.

You lose a grip on global reserve currency status. No nation in history has ever regained that. And you’re absolutely right.

The dollar is strong because of the position that we are in with a global reserve currency, right? Currency is like anything else. It’s driven by supply and demand. When you’re the global reserve currency and two nations that trade that don’t share a common currency, they have to use dollars.

That’s huge in-built demand for your currency, which gives it strength. It allows us to rack up debt. We export dollars to the globe.

Well, you’re right. The problem now, these, well, the problem is actually twofold, right? Number one, by printing money, by devaluing the dollar as we have. The argument for the dollar as a stable store of value is weakening every day.

I go back to the point, the dollar’s lost 17% purchasing power since the pandemic began. Is that a stable store of value? The world right now is saying no. The other and the bigger issue is what’s happening with BRICS, right? We have Brazil, Russia, India, China, South Africa, Saudi Arabia, along with I think now 40 other nations clambering for membership to no longer trade bilaterally in U.S. dollars.

The catalyst for this, weaponization. You act as the world’s policeman. You use your currency as a weapon one too many times.

There’s gonna be a point when the world turns around and says enough is enough. Now, here’s the thing. Right now, there isn’t a natural suitor to dethrone the dollar as global reserve.

But if these nations that constitute more than half of the world’s GDP, half of the world’s natural resources, if they no longer trade bilaterally in dollars, the demand for dollars globally will drop and the value of the dollar will follow. Look, right now, the Chinese yuan accounts for about 5% of total global trade. If this alliance pushes that number up, either the yuan or the rupee or this BRICS currency to 20, 30, 40% of global trade, the dollar cannot come back from that.

Look, this is not a new concept. This is how empires have failed throughout history. We knew in the 70s, when Nixon took us off the gold standard, governments around the world knew how it would end.

They said to the US, what’s gonna prevent you printing money, devaluing the currency? The response at the time from John Connolly was famous. He said, listen, the US dollar is our currency, but it’s your problem. And the reality is in 1971, what was anyone gonna say about it? Nothing.

60 years down the line, like I said, the dollar’s argument as a stable store is weakening and the world has had enough of us using our currency as a weapon. And the concern is once they start that train, there is no stopping it. So the BRICS alliance, the global drop in demand for dollars, that is our biggest problem as a nation.

Yeah, and so many windows opened up for me as you’re saying this, because what the average American doesn’t realize is you out there. This portion is too hot to handle for social media. Go to LanceWallnau.com forward slash podcast to listen to the entire show.

I mean, it feels like it’s heading in that direction. The government are trying to become more and more involved in every aspect of our life, to the economics, to healthcare, to what we believe, what we spend our money on. Digital currencies for me suit today’s government’s interest, right? They’re interested in big government, huge control.

So it’s very, very concerning. We look at how things like social credit scores are used in China. If that happens here in the US, we’ve got a big problem, but that is not a world that I wanna have anything to do with.

It sounds like a frightening dystopian future, but it feels like the direction they’re pushing us. But I think it’s down to the American people to say, no, we’re not gonna go down that route and elect people that represent our interests. So I think 2024 is going to be a very, very important election.

And I think we’ve got a lot of work to do economically. But my concern is this, is it too late now? Has Biden, and like I said before, this is where one presidential term becomes very, very dangerous because you make too many mistakes and we start that train. It’s very, very difficult to stop.

Russia and China never enjoyed the dominance of the US dollar, but to change the system requires huge upheaval, economic hardship. And I don’t think they had the catalyst to do it up until now. So I’m getting really concerned with our future.

So therefore, what should we be doing? And this is where you come in because your message has been consistent. What steps does my audience need to take if they have the ability to take action? What should they be doing? Look, I mean, education is the most important thing. I say it all the time, but when we understand what the problems are, the solutions start to become much more simple.

But I think just to summarize, everybody needs to hedge exposure. And that means exposure to currency and exposure to the dollar. And precious metals in climates like this, they work incredibly well because the same problems that we’re talking about, they drive safe haven commodities like gold and silver up, right? Look at central governments last year, we talked about de-dollarization.

US dollars held by central governments are at 25 year lows, right? The governments around the world are dumping the dollar and what are they doing to hedge? They’re buying gold. Last year and this, biggest years for gold buying in history by central governments. And the reality is this, I think they see that the writing is on the wall for the dollar.

But as I mentioned before, there isn’t a natural currency, there isn’t a currency that’s ready to take its place. So instead of betting on what will be the next reserve currency, whether that’s the yuan or the rupee, they’re hedging their exposure with gold. Like I said before, what applies to them applies to us.

Gold and the dollar have an inverse relationship. Dollars lose value, gold goes up. Everyone needs to protect.

Folks, okay. So you wanna go to LanceWalnut.com forward slash Birch. This is the reason why I have Philip on because I’ve been researching this stuff for you.

I’m the seven mountain guy. I predicted Trump. I predicted a lot of what’s happening now.

And I’m saying all the indicators are that we’re heading for a fiscal adjustment. It’s almost like a divine spanking is upon America. And I pray to God, my own personal thinking is that we can get Trump in there.

But even so, my fear is that he’ll be doing damage control on a sinking ship, which doesn’t look so good. But you don’t have to go down that way. There is a life raft, LanceWalnut.com forward slash Birch.

And you can have even your gold IRA. You can get your IRA, your retirement account. Now seriously, now, not later, now go to that site and download the report and take a look at it because you can put your IRA into gold, in which case, if the dollar indeed continues to burn up in a dumpster fire, the value of your retirement actually is stabilized.

It’s stronger than if you’ve got it tied up in paper assets. And that’s the call to action. I wanna ask you something, Philip.

We don’t talk a lot about silver. The other day, I listened to somebody and now I’m interested in it because I’ve got my verse over here in the Bible that I always go to, that Cyrus comes into office and I wrote a whole book predicting that God would start to bring outsiders into politics. And I saw it with Bolsonaro and I see it with Trump.

Outsiders for the sake of his own agenda and his own people. And one of the prophets that followed Cyrus said to the Jewish people, the silver is mine and the gold is mine, but you better be working on the project that’s mine. And so I teach on what kind of projects Christians should be engaged in to save civilization and their own nations.

But the silver is mentioned there and I always talk gold with you and everybody else talks gold, but silver has a kind of a cycle to it. And they’re telling me, oh, it’s not that good an investment. But listen, silver has a different utility, I think, than gold in that it’s so much a part of the economy in terms of the technology.

That I see silver as being part of the future, even though cyclically it may not be up now, it might be a long-term play for people who are thinking long-term. What are your thoughts on silver? Educate us on that. You are absolutely spot on and I’m glad you used the word long-term play as well.

So for me, silver is really attractive today, but for very different reasons. So gold, we talk about, it’s our wealth preserver, it’s our currency hedge. It’s about making sure we can buy the same amount of loaves in 10 or 20 years of bread than we can today.

Gold is all about preservation. Silver though, very useful. Now, silver is attractive today for a couple of reasons.

The most attractive thing about it for me is the price. It’s really undervalued. For some context, post 1970s, gold and silver traded about a 40 to one ratio.

So gold roughly 40 times the price of silver. Today, they’re over 80 to one. So silver is really cheap.

On top of that, industrial demand for silver is growing. It’s used a lot in electronics. Its use in electronics has doubled over the last 15 years.

Solar technology, electric cars, both heavily reliant on silver. So we’ve been seeing demand rising, supply shrinking because we consume so much silver every year and prices are really cheap. So for me, silver is, as you use the word, that longer term growth play.

Gold is our more defensive or shorter term preservation play. Both good, just different. Yeah, and to be honest with my audience here, I mean, this is my preferred strategy, but we also talk about real estate.

It requires real intelligence to know where to go because the real estate bubble is about to burst and there’s a lot of adjustment. But still, I’ve got friends of mine that own like five properties that because they know where to go. And so I teach our people that you wanna have a diversified portfolio.

You don’t wanna just be all in one basket over here. I believe silver, you’re not gonna regret that one because the gold is mine and the silver is mine. And silver, like Philip said, Elon Musk and the future of our energy efficient from solar down to all that technology is gonna require silver.

So the government’s forcing itself into that business and people are gonna be manufacturing it, refining it, buying it, mining it. Trust me, there’s a future there. It’s a quick question.

So I know this sounds really basic, Philip, but I was just talking to somebody the other day and she was gifted. Somebody came up and gave her a gold ring and two gold coins and she just kind of threw them in the back of a drawer because she had no idea its value. She didn’t understand anything about gold.

And so she was asking me really basic questions and I’m realizing some of our audience is gonna be like this. But what exactly, people think, well, I have these gold coins, what am I gonna do with them? And so could you just talk about what people can do with them? I mean, I think people, preppers think, oh, we’re gonna trade in silver coins. But other than that, can you just talk about that a little bit? Because people just don’t even understand gold and the value of gold and silver right now.

Of course. So for me personally, I don’t buy gold to trade in the streets for goods and services in the future. Look, I think our dollar has problems, but I don’t think it ends, at least now in barter and trade.

So for me, it’s about preserving buying power, right? Dollars every single day lose value to inflation. So if you have a certain amount of dollars today, that same amount of dollars in 10 years time, your buying power is going to be significantly reduced. The idea with gold is that as the dollar goes down, it increases.

You sell your gold coin back for more dollars and preserve your money’s ability to purchase. To give you an age old example, which I sort of touched upon earlier, gold’s value, its buying power, very consistent. Biblical times, one ounce of gold, 400 loaves of bread.

Today, $4 and some change, one ounce of gold, 400 loaves of bread. So gold’s buying power is consistent. What changes is the value of the dollar.

So basically, as dollars become weaker over time, which they do, you’ll need more of those weaker dollars to buy the same ounce of gold, hence that inverse relationship. So for your friend with the two gold coins, sell them when you need the liquidity, you’ll be worth more dollars, and you go back and you spend the money and preserve your money’s ability to purchase. That’s the key.

And I wanna say something else. Early on in my life, I had a friend of mine who was always trying to sell me gold coins. And the problem I had was, there were always the confusion of art and collectible gold with, hey, this is, if you get the third set, this is worth $30,000 if you have all three.

And something bothered me about that. And I wanna expand on Mercedes’ question. Some people have bought rare gold coins or coins that are collectibles.

And I wanna suggest to you that you maybe wanna try to sell them now, because the last thing you wanna do is have little resources go into a crisis and think that those collectible coins are going to deliver to you what the guy that sold them to you says they’re worth. Because if you’re in a crisis, everything changes. And the bartering value of it is just gold.

And all the extra money you paid for the art value is burned up because the market in a crisis is going to take advantage of the crisis. They’re not gonna pay you what you think it’s worth. So if you’ve got, now this is gonna freak some people out, but if you’ve got, somebody sold you those collectible gold coins, those rare gold coins that theoretically have all that value, unless you can afford to make it like an art project, like the artist who just, it doesn’t have to touch it.

But if you’re doing this as a hedge survival strategy, let those get sold now to someone that wants them as art collectibles, and you get the dollars and put it into gold that has the ability to be stored value. Does that make sense, Philip? Yeah, listen, it absolutely does. Collectible gold coins, I would liken to what I said about art.

People can do incredibly well, right? I’ve seen people turn them around in short spaces of time and do really well. Number one, you gotta know what you’re doing. Number two, it’s the liquidity side of things, right? You can take a one ounce gold bar anywhere in the world, there’s gonna be a buyer.

For a specific coin, then there’s, you need a specific buyer. So it’s a very different type of thing. But yeah, I would agree with that.

Look, with the guys that come in with that worst case scenario, prepper mentality, they’re always looking at metal content. Some people like coins like an American Eagle or a Canadian Maple Leaf, they’re minted by a government, they trade very close in price to bars. So there’s lots of different options.

Personally, I stay away from rare coins as well. It’s not a market that I invest in. I have a few things from back in the day, but generally speaking, I would agree.

And somebody in that market really needs to understand that market. But if you’re buying for worst case scenario, metal content’s usually the way to go. Yep, and by the way, Annabelle, my wife, loves the American Eagle and the Maple Leaf.

So I don’t look at that as being the rare vintage artwork types that you have to get three of a kind and there’s only a few of them in the world. So I agree with that. But listen, we’re running out of time here and I’m sorry that we are.

So I’m just gonna squeeze in one little bonus question here before we go off the air. A little bit of predictive work. We’re looking at this government deadlock.

What do you think’s gonna happen? It’s an unfair question, I know, to ask you, but what do you think’s gonna happen here? Matt Getz is fighting, he can’t even get unity with the Freedom Caucus or whatever. But do you think there’s, where’s this gonna go with the gridlock? Do you think we can succeed in shutting down for a little while or is this just a lost cause? Look, we could see a shutdown this time because I think they’re really trying to force and curb some spending. But the reality is this, eventually the federal government are gonna work it out.

One side is gonna capitulate and the spending’s gonna be cut. And whether that spending total 6.9 trillion or 6.78 trillion, the national debt’s gonna increase more than a trillion dollars. And what concerns me, and this goes back to how we started this, more than this budget or the next one, the government hasn’t reduced the national debt at all in 20 years.

Where is the plan to pay back this $33 trillion in debt? That should be the focus and nobody’s talking about it. These are theatrics. They’re gonna get ironed out.

Maybe we see a shutdown, more volatilities and economic uncertainty, but it’ll get ironed out. But we need to start talking about this debt because that is a ticking time bomb. And we’ll conclude with this.

I think Matt gets, if you can watch that entire segment, you’ll hear under the fire of that moment, he’s clearly got the facts. He’s got the receipts on why we have to act now and I think we need a Churchillian moment for some of these politicians. They’re afraid to do it, but boy, America will reward you like England rewarded Churchill by saying clearly we are heading into the storm of a potential Great Depression self-inflited when we could actually extend freedom and peace and prosperity to our children. The selfishness and activity of Washington is setting you up in America for a disaster.

Remember I told you that’s coming and remember that bold action is required now in order to avert disaster. For those of you who are at home, you can have your own Chruchillian speech. You do it at the kitchen table and do this. Go to lancewallnau.com/birch, get informed on the 20 page download we have on silver and gold and I would advise you to do it. I personally believe it myself. Put a percentage of your hedging for the future into the precious metals. I believe silver has a great future, we don’t talk about it enough. I believe gold is a no brainer. You need to have a certain percentage of your retirement and of your future at a place that’s as stable as that.

If you go to lancewallnau.com/birch now, you’ll get a very great deal and they’re going to be able to give you consultation and you will talk to someone like Phillip who will be able to answer your questions which I wasn’t able to get too. Thank you Phillip Patrick for joining us and we look forward to always having your updates. They’re always so precident.

Thank you. Thank you for having me.