 president of the and ran institute based out at turbine california uh... yarn welcome to the show that makes everything you know i just uh... spent a good chunk of the show talking about a a a law that is i guess being proposed out there in california which will basically eliminate uh... babysitters at least anybody over the age of eighteen uh... from from working in the profession which is very uh... you know uh... typical of how the government operates me the government uh... ostensibly is out there try to protect a certain class of individual and then they write a law that completely backfires and this and and harms them absolutely and you know in california now is there's twelve percent unemployment and this will only serve to increase that as businesses are moving out of the state because it's prohibitively expensive higher people to fire people to to do any kind of business in the state of california and i i understand to you that you're hosting a uh... kind of a uh... a a symposium tomorrow that's uh... commemorating the tenth anniversary of of nine eleven what what it would be at the institute's take on that what's happened to the country uh... as a result of uh... the at the the events of september eleven well my view is that we miss identified that the problem after nine eleven we miss identified the enemy of the cause of the event we engaged in two futile useless wars that have done nothing to make us more safe or more secure uh... we have increased the amount of surveillance on innocent americans because again we were afraid of identifying you know who the enemy really is you know it's a bit of a instead of going after them we go after everybody so the country is less safe less free and of course you know economically it's in a disaster situation uh... very little good it's happened since nine eleven uh... in that sense they've been a lot of uh... you know is a winning he said that that is causes winning yeah unfortunately and i i i mentioned at the time that the real success uh... that uh... of the lot and has was in helping to shred what remained of the u.s constitution because of his actions americans lost far more individual liberty uh... then then could have possibly been lost you know after those actions in fact more damage was done to our uh... individual liberty uh... by congress and by the terrorists well that's i think the point i wouldn't believe you know now on the you know below the lot and uh... can be blamed for a lot of things but on that one i would blame congress and the president not him because that the kind of threat to be a lot imposed in my view at least could be dealt with could be dealt with swiftly you know ruthlessly and thoroughly without having to violate or to engage in the right of uh... of uh... of americans all absolutely not my point should have been they should have been done they should have been overworked by now we should be you know we should have destroyed the enemy and gone on and that's not something that happened so my point is that really that all bought that the lot in provided congress with the cover to do what they wanted to do anyway but they lack the catalyst without the threat of terrorism they never could have convinced americans to surrender so many rights they never could have passed all this legislation if they didn't have that the lot in threat uh... you know uh... hanging over uh... the the country i think you're right i mean whether whether they would have wanted to do it anyway i'm not you know it depends how how evil you think those guys and what you know about it generally we agree on that one uh... but yeah it's out of the world they have a lot of these politicians just believe their socialist they just believe that the more power that we invest in government uh... the more uh... uh... you know benefits society is going to have a they they'd like to see you know i don't i don't think i think i think that you kind to them you said i don't think that the type of politician obama and and some of these people in the left in particular i don't believe the socialists i think that's way too good of a word for that socialism actually believes that you're you're moving towards a better place you're moving towards some kind of progress human happiness whatever they're wrong but they believe that these people don't believe that these people uh... you know uh... galaterians throughout the quality for the sake of equality if we all suffer and if the economy goes to hell they don't really care as long as they get their agenda passed in that sense that much worse than socialists yes so it's yeah i guess the socialists the golden is to spread the world is to spread the wealth around but what they want to do is spread the poverty around and just absolutely i mean i really believe at least in progress if you remember the old socialist old left believed in industrialization they believed in progress we believe we'd all be better off if we were just more equal these people know we won't be better off because they've seen socialism in action they know well i'll be worse off because they've seen for example socialized medicine and how it works but they still do it because because equality is more important to them than than human prosperity and human success except of course they still value their own uh... material comforts a lot of the libra limousine liberals as you know you might like to call them they might want to uh... they want everybody else to suffer but they they they want to somehow exempt themselves well it's always the case that kind of the the elite that that is going to tell us how to live our lives and what's good for us they need their comforts in order to be able to you know stay sharp enough to be able to manage our life for us if they had to give up those comforts how would they take care of us uh... that's always the pattern in history uh... and you know it goes back to play-doh or the philosophy kings that rule over the people and and tell them how they should be able to what professions they should have and what kind of health care they should get and what's good for them because we're we're just too dumb to take care of ourselves yeah now i know you've been saying that you know iran's uh... philosophies that have been making a comeback at least uh... among the general population uh... not so much uh... among legislatures but i certainly i don't know if you heard i'm sure you did actually heard uh... that the jimmy hafa speech the other day uh... where you know he really called on president obama to enlist the workers in a war uh... on the tea party or more importantly a war on employers that you know that they needed the workers need to take what's theirs and take what's right in the government needs to i mean it really sounded like a radical call that you might have you know the cry that you might have heard in the the communist revolution in the soviet union or china or cuba and really made me think of uh... you know atlas shrugged and just you know really wanted to see you know you know what what the employers just concede the war and just stop hiring completely and just take their capital and take their hard work and and either retire or take it to another country and just let the jimmy hot let that let them win concede no i i i you know that is the story of ala shrugged and of course they did that you know life in america would be intolerable very very quickly things with the two-way to follow-up but very very quickly and people would would uh... you know hopefully would then appreciate the value of the capitalists and the the managers and ceos and the entrepreneurs the people who who create the vast wealth in this country part of the challenge for them is where do they go that is uh... you know it's not like there's some uh... gold sculptor is in the book where you can go and actually be free with living the world we're almost everywhere the creators the entrepreneurs of being uh... well it's all it's it's all of uh... a matter of degree there are plenty of places that people can go and be relatively freer than they are here anyway we'll continue this discussion at the break of the leadership show you're at chip radio the peter ship show since the peter ship show was last on the air the national debt added another seven point eighty nine million dollars luckily peter's intelligence is growing twice as fast welcome back to your source of sanity in an insane world it's the peter ship show you know you're on it it really is a a a a matter of degree you know you mentioned a lot of companies are leaving california and in those countries companies are going to other states which are certainly not completely free but they're less impressive uh... then then california you know i have a company one of my california companies your pacific asset management i'm moving out of california as well but i'm moving out of the country to i'm moving the business to singapore i because there's a lot more freedom over there it's not perfect but it's better than what we got here sure but you know people who were people way different parameters i mean the fact what amazes me every day is is how much business being in california and growing in california in spite of everything so you know the calculation is difficult you can move to singapore but you really want to live in singapore uh... you know with the not that many places the attractive to live in the world that a free of the united states unfortunately i mean it would be wonderful if they were uh... california is lucky that it has such good weather i mean if they had to california had bad weather there'd be nobody there i agree and it has a great infrastructure i mean one of the reasons silicon valley by it is because everybody's already there so if you know it's hard to leave uh... you know you create a certain uh... economy to scale when you when you have all of the technology companies in one place plus stanford university but yeah i know absolutely economically it does not make sense to stay in california uh... and economically what's happening in the united states is completely insane and and what's happening europe is completely insane and i mean i mean i like california where i live there for a long time and the main the main reason i guess i would i'm not moving back is because of the that the taxes and regulation and that's you know uh... that's what's keeping me up but ultimately i do think you know as all the jobs more more jobs disappear a lot of people will have no choice they'll have to leave california they want to get a job i think you're right and i think that uh... uh... you know things are going to get all worse before they get better because uh... you know experience doesn't really teach people particularly politicians things have to get very very bad before they they enact even semblance of of uh... of same policies and and there's just no way for them to get out of this and if you think of how many dollars the state of california is and that you know under water and then it you know the pension plans in california all bankrupts uh... in in kind of dramatic that was about at least half a trillion dollars uh... it's gonna it's going to take massive restructuring to bring back and the problem is it can't just get a little bit worse it has to get a lot worse because when it gets a little bit worse they just want more of the same like i keep hearing people you know they want more stimulus because they're still convinced the last stimulus work even though even though we're right back in the ditch they think that well you know we need more of this so it's not until it's a bit more failure there's so much pain that they might even question the fact that their cures are actually the problems i i agree in it but i don't actually think they think that you see again i think they're much worse than you do i i don't think they think that the stimulus works i think they know that the stimulus is the only way for them to gain more power uh... whether it works or not i mean these guys can't be as that's stupid right i mean we know and in the fact of reality that stimulus is never ever ever worked in the history of mankind they always make things worse not better and it you know the empirical fact to help if anybody who's semi-honest the problem is people are not honest the problem with the stimulus is it creates the temporary illusion that things are getting better and so people actually buy into it but then when the illusion wears off and you and and and what's revealed is that you're in worse shape people still don't make the connection that the the effects of the stimulus were never real in the first place and that the reason that the economy is now back in trouble is because of the secondary effects of that stimulus but uh... i do believe that there are a lot of people that believe in it there are probably some people uh... that that that knows that's bull and they you know they they they want to get reelected and they know that uh... you know promising something for nothing is a way to do it but probably a lot of people out in america still believe uh... that government programs could improve their lives and i think many of the common people do a bit of it you know the economist to preach the stuff they know they know this is not true deep down they do i mean they were fading they were ignoring the fact on purpose because it's convenient because you know the challenging stimulus which you know would challenge much of what they believe about the world and they're not willing actually challenged that i think yard i don't think it's that that i i think they actually don't believe it i think it's kind of like a cognitive dissonance i mean look i i mean i went through this during the housing bubble you i never had more arguments with people then when i told them that housing prices were going to go down and these were otherwise intelligent people and believe me they were one hundred percent convinced that it was impossible that real estate prices never fall let alone fall by the degree to which i explained it it certainly california where you're living where prices have been basically have it and i think that people were just shutting their eyes to reality because it was that the prospect of their house going down in value was so destructive to everything that they were about that they simply shut off from the possibility that that was true and they built up a wall and i think a lot of these economists they don't want to repudiate their entire life's work everything they studied and so they simply close their mind to any evidence that would suggest that what they believe is false and they just believe in it like like a dogma like a religion i agree i agree completely i mean i think that i think that's exactly that evasion they put up they didn't put up a cognitive wall they don't think uh... and they ignore reality make no fact uh... you know i don't think that's necessarily true of the common american who's just been bamboozled but i think anybody who is a professional anybody and including the politicians anybody who knows a little bit about history and a little bit of economics knows that these things i mean just look at japan and you've talked about this is what that for the last thirty years look at the great depression these things never work uh... and and ultimately they only take you into a deeper and deeper hole and and create uh... bigger and bigger match yeah and the crazy thing is you have these glaring examples where government stimulus doesn't work like the great depression like japan yet the people that are proposing more stimulus site those of those examples as proof that stimulus works because they claim that the depression was the fault of lazy fair capitalism that we didn't have the stimulus and and corby you know they'll always say well the stimulus wasn't big enough in japan right uh... i mean the yes i think that i think that's where they would become really dishonest uh... these guys are trying to try to really fool the american people in a massive scale right but i think they've succeeded in fooling you know i think they've succeeded in fooling themselves i mean i believe that paul krugman believes what he's saying i see him on television he seems like he's a sincere guy he actually believes what he's saying i don't think he's lying i just think he's that ignorant i think he's lying to himself like i think you see as you said he's created this cognitive wall where he's he's ignoring stuff but that to me is the worst form of lying ignoring fact ignoring reality putting yourself into this into these blinders that is the worst form of decision i think it's happening on a subconscious level i don't think he has any idea it's happening because it's his own body trying to protect himself from the the ugly realization that his entire life has been a fraud that everything he studied has been wrong everything he thinks he he thinks he's gonna save the world with his knowledge of economics he's condemning the world based on his lack of knowledge of economics cognitively you're right but i i i cannot believe deep down he doesn't know he's full of it uh... the body sends you signals when you're shutting down like that when you're evading reality you've got lots of signals of what you're doing is wrong and bad and what these people do is they ignore it some of us change some of us have bad ideas at some point in life and we look around and we see evidence the country and we stick to our guns but after a while we we open our eyes and look at the fact change and these guys won't in spite of the evidence in spite of everything and they know it deep down and it's tough to figure it out i mean it's always are they lying or are they ignorant or is it a combination of both it's it's always hard to tell but it's an interesting discussion nonetheless anyway yarn hey thanks a lot for coming on the show and i really appreciate the work that you're doing is spreading the word of freedom in iran uh... it's not america and hopefully one day we will return to those principles anyway everybody else we will be returning back to the petership show after this break so stick around i will go right back to the phone so and here we now return to the petership show eight five five four six eight five five four seven two forty four thirty three really know about petership show our back this is petership here chip radio dot com and the markets are continuing to be strong and now as we speak up a hundred eighty points but it's not just stocks that are going up but commodity prices are rising will is up better than three dollars a barrel at eighty nine for barrel in fact we're almost are i think we're just about at the highest level for coil all August fourth better than a one-month high in fact during the lap during the last month and a half the price of oil has held up a lot better then the stock market during this correction in fact if we close at this level i think i would constitute a breakout i think short-term that would send oil prices back up to at least ninety two ninety three dollars a barrel and if we break above there if we close above ninety three that would break a downtrend that's been in place since may uh... where oil prices touched a hundred and thirteen dollars a barrel and we break that downtrend i think we're going right back above a hundred i think oil could easily be back above a hundred before the stock market gets anywhere near where it was the last time oil prices we're adding hundred also uh... metals are still under pressure but they are rising silver near the high of the day down just eighty cents gold now down just under sixty bucks uh... having been down uh... over seventy five earlier in the day and the gold stocks have cut their losses in half gold stocks now only down one percent even though gold prices are down three and a third percent in fact there are several gold companies that are already in the green on the day again this outperformance uh... continues uh... with the mining stocks you know also during the break i heard uh... a news report reminded me i forgot to address this comment about the post office about to get a federal bailout apparently they had a five billion dollar payment that they needed to make it they didn't have the money and they're going to get some kind of government bailout a stopgap measure is going to be announced to keep them solvent for a few more months and then there's gonna be a bigger bailout of the post office and of course there are many problems with the post office number one being that it's government run and so it's completely inefficient uh... you know ninety percent i think of the costs are labor related it's a complete joke what are the other reasons that the post office is is losing a lot of money is because congress won't let them raise the price of a stamp and the reason they won't do that is because they want to maintain the illusion there's no inflation and if they allowed a big increase in the price of a stamp that would be a great example of the inflation that's out there and so they do not are not allowing the post office to raise the price of a stamp meanwhile the cost of delivering a mail are going through the roof uh... think about all the gas that all these little postal cars are using driving all around delivering the mail and so they're not allowed to do that meanwhile i commented before i actually wrote a commentary on these forever stamps the one place at the post office taking a lot of money is by selling these forever stamps that you can use the matter how high the price of stamps ultimately goes i think these are a ticking time bomb they are enormous liabilities that are off the books of the post office because one day congress is going to let them raise the price of a stamp and then no one's going to buy any they're simply going to use the forever stamps and then congress is going to post office have to deliver all this mail for free because they would have already collected and spent the money yet they haven't made any delivery so this is a huge uh... accident waiting to happen you know one of the things that they're saying they want to do is eliminate saturday mail delivery they want to cut back on services i don't know if a lot of people remember this uh... uh... book you know at one time not only did the post office deliver on saturday but they delivered twice a day you know back when uh... you know my father was younger my mother there was always uh... two males there was a morning mail in the afternoon mail fact if you're watching a movie you know from the nineteen fifties dream nineteen sixties you'll hear you'll hear them talk about what's in the morning mail did we get the afternoon mail the post office actually made separate deliveries today so they've already dramatically cut back on service i mean normally in a free market the service improves over time the quality gets better but the government run monopoly the quality of the service is gratis is constantly diminished as the cost goes up i mean the post office is a glaring example of the failure of government to do anything even something as simple as deliver the mail yet we want to turn over the entire health care uh... industry into the equivalent of the post office anyway let me go back to the phone unfortunately what happened all my callers i guess a lot of people lost patience and dropped out so if you want to call back up uh... eight five five four shift uh... i'll i'll return to the one remaining caller that i have so it's easy if you want to call in we've got an open board uh... but uh... first up is a manual calling from portugal welcome to the show uh... i'm calling for just uh... thinking about i mean i have a banking account and it's not easy for me to withdraw the money from the bank for for reasons but i'm really getting scared about the banking situation in portugal and in europe and i would like to you know take uh... some boolean store it somewhere else but i'm getting a little bit afraid of that someone is going to do something to the to the trading of the call i don't believe that they will allow it just simply to go up you know we have seen what they have done to the space frank and i mean we're playing with some tough people out there what you what you're well remember there's a lot there was a lot of pressure on this politicians uh... to weaken the currency and of course it's very easy for switzerland to weaken the frank they just print them but you're not going to have a big constituency out there to weaken gold uh... you know and even if governments want to weaken gold it's much more difficult because you can't print it yes it's possible for some central bank to sell the goal that they have into the market but the problem is there's so much demand especially from other central banks that if one central bank tried to depress the price of gold by selling it i wouldn't even work i mean the goal would be quickly absorbed by the market and the price i think would had higher so while i think you do have competitive devaluations in the currency markets i don't see it in the precious metals market me well gold prices have already gone up from two hundred and fifty dollars an ounce to nineteen hundred dollars an ounce and nothing has been done to impede uh... that rise so i don't think the if the goal goes from nineteen hundred uh... to three thousand i don't think that that's going to change the dynamic so i think if you're worried about the euro and you want to protect yourself in gold just go ahead and do it i mean i i you know i'm just afraid that they're going to do something they're going to be grateful for simple people or something but what's the alternative you're afraid of something they might do that they haven't done yet but what's the alternative i mean you you're going to lose money if you stick with your fiat currency so i would suggest you know contacting my company europe pacific got international because not only can we buy gold for you but we can store it and we can give you a a mastercard that you can use as a debit card uh... to access your gold so if you need to spend it if you need to go into an atm machine and take out some cash or if you want to go into a store and buy something uh... you can pull out your europe pack a mastercard and uh... spend some of your goal but it's not going to do u-s is it uh... the company i say no no it's in the Caribbean but it's my company it's it's it's it's it's based out of the Caribbean uh... it's europe pac i-n-t-o dot com is the website and you you know you can you know just another question please what happens in case of a failure of a bank of a bank groups of a major bank in europe what happens what do people lose well i'm not familiar i'm not familiar with the the the portuguese banking laws i know here in the u-s we have deposit insurance uh... where the government is obligated to make the depositor a whole uh... they probably have something similar in portugal unfortunately uh... but you know uh... so chances are the posers won't what but you know what ultimately happens though is if you get a bunch of bank failures and the government's have to bail out the banks where they get the money they created they printed and so even though you still have your money you lose a lot of your purchasing power and that is what's more important and so if you want to protect that you do what you're thinking of which is owning gold right thank you very much thanks for the call and uh... glad to have people in in portugal listening to the petership show uh... next up is bill calling from mount pleasant uh... pennsylvania bill welcome to the show thank you peter uh... on the uh... subscriber and a uh... client and uh... fan of yours and ron paul's and i heard your uh... little talk about ron paul earlier and i was disturbed the other day i they were a couple criticisms i've heard of ron paul and i would wonder i wonder if you would address them for me the first one and i'm paraphrasing a little bit here is uh... i heard mark live in on the radio and he was going on and on about uh... ron paul being a nut and that he brought himself with people who hated lincoln and that if you would if he had been in charge at that time that he would have allowed states to succeed uh... that was the first one the second one was uh... i heard handy the other night that he could support just about all of the uh... conservative candidates except ron paul because he was really upset with the way he used a rand getting a nuclear weapon that ron paul said he wouldn't bother him well not that it wouldn't bother him but uh... you know the odds that you know a they don't even have one and b uh... what his point is that even if they were to develop one you know how we know what is the threat given the fact that the soviet union had intercontinental ballistic missiles uh... aimed at all of our cities and they were and and they never launched them and so if we were able to defend ourselves against you know the soviet union actually could fire a missile and hit us i mean i read he's pointing out that i ran is simply not the position to offer that type of threat and he thinks that we are over uh... overplaying it and we're spending too much money and and and and uh... in overseas in order to defend against the threat that is really a lot smaller than what the media or what the government is making out to be and that respect is probably right and of course you know if i ran were to develop a nuclear a weapon i'm sure israel would do something about it uh... very quickly without any yet without any help from the united states i think they're uh... they have more at stake than we do and i think they're in a position where they can uh... defend themselves but as far as that you know obviously ron paul is not an idiot he's far from an idiot he's about as far from the as you can come does he question and do a lot of people question some of lincoln's decisions with respect to the civil war absolutely i mean the civil war more americans died in the civil war than in war war one and war war two uh... vietnam creek combined uh... tremendous loss of life was a civil war really necessary i don't think so i think slavery would have ended even if we didn't have a civil war and it would have ended with a lot less bloodshed and would probably be better for the united states that if you want to hang on i'll continue uh... to discuss this little bit more after the break your listening to the petership show here at ship radio dot com petership show to president obama secretary geiger madame polosi and all of the socialist con professors across america we're sorry petership is back on the as we are back and i'm talking with bill and uh... pennsylvania about ron paul couple of controversial uh... points regarding uh... lincoln and i uh... i ran and going back again to uh... the civil war and and you know a lot of people believe of mistakenly and probably that that's through the liver result of our school system that the civil war was fought and slavery that's not why it was fought wasn't fought and slavery in fact lincoln himself said that if you could have uh... of averted the war by preserving slavery he would have done it the emancipation proclamation didn't come didn't happen till eighteen sixty three it was two years into the war before uh... lincoln flee the slaves and and one of the reasons he did that was there were rumors that the french might have intervened uh... on the side of the south and in so in order to prevent that from happening uh... lincoln wanted turned the war into a war over slavery so that the friends would then not be inclined to support the slowns if they turned it into a war uh... for slavery rather than what it started out to be which was overstate rights and and that's really what how the war began and it wasn't and that's why you know the the the the north there wasn't a lot of support they actually did that they had the drafts in fact the bloodiest riots in u.s history took place uh... during those drafts but the south all everybody volunteered there was no drought draft in the confederacy people volunteered uh... so uh... there were a lot of problems you know and and but it's very unpopular when somebody comes back in and criticizes what happened during that time period was a very dark period in american history clearly we would have been better off as a nation had we ended slavery without the bloodshed of the civil war and without a lot of the damage you know the first income tax happened during the civil war it went away but it came back the first paper money happened during the civil war so a lot of bad precedences were started during that time period america would certainly be better off uh... without them so i do think it you know uh... rational people can question a lot of the decisions that were made back then uh... but unfortunately at the media likes the demagoguery and somehow if you have any problem with that with the war that you you're in favor of slavery which clearly ron paul uh... is not you know also on the uh... the iraq college you know i had uh... a different spin on and i disagree a little bit with uh... with ron paul on on iran it's not a big deal for me uh... but yeah i mean i think that the u s if we had credible intelligence that i ran was uh... developing a nuclear weapon i think that the united states should do something about i think we could do something about it without having a massive military presence that we have today look clearly had we've been able to prevent the soviet union from developing uh... nuclear weapons we should have done it you know clearly uh... we would have been better off if we could have avoided the cold war and in fact there was a discussion uh... there was uh... an opinion among many uh... you know general patent comes to mind that you know when we finished the feeding the nazis and we were we had our tanks in our troops in europe uh... to then go in and go to uh... moscow and and liberate our russia and defeat the communists because people like general patent understood that it wasn't just the nazis that were enemies but the communists in russia but but uh... true man uh... you know true man wouldn't do it true man wouldn't support it but so i i do think that we would have been better off had we nipped that in the bud uh... and i i think that yes is it possible that iran could develop a nuclear weapon and ultimately use it against us yes it's possible and if for a relatively small expenditure we could eliminate that possibility it's something that i think is worth doing but again i don't think we necessarily have to do it because i think if we don't do it israel would do it and that's just as good i mean they're they're right there and i they have the capability uh... to to uh... neutralize that threat uh... anyway it is still there one of the climate here i thought i still had the call on the line i guess he dropped out but i hopefully i thoroughly uh... answered his uh... question anyway i'm moving on to ellen uh... calling in from new york ellen you're on hi peter uh... on the euro-specific client ellen there yes i'm here can you hear me can you hear me maybe we're having a problem with these callers uh... let me move on to tony in los vegas tony are you there is anybody hearing me i'll go to kevin in toronto call kevin there yeah yeah i can hear you can hear me hello all right all right apparently i can't hear any of the callers i don't know why you know what is wrong with my equipment i'm not hearing any of the callers uh... so i don't know uh... uh... what what the callers are calling about uh... i'll try i'll try to address some of the cockpit topics i mean tony in los vegas apparently was calling uh... regarding decoupling i mean decoupling is is something that i believe is going on it's the whole concept where the rest of the world will the couple from the u.s. economy and you know the idea is most people regard the u.s. economy as being the engine uh... of the global economic train i regarded as the caboose and that's why i think that the coupling process uh... is so advantageous for the rest of the world because they no longer have to pull uh... the caboose uh... behind them i think the world is dragging a lot of dead weight because americans are consuming but not producing borrowing and not saving and our spending is not a benefit that the world enjoys it's a burden that the world has to bear but of course this whole decoupling process there are certain factions uh... that benefit from the status quo that make a lot of noise that have a lot of political collection connections and so politicians are are doing things uh... to uh... to protect those interests so the decoupling process doesn't happen quickly and automatically it is happening over time it is taking time but if you look around and if you look at the emerging markets and a lot of the economies that are really the caboose that the engine that are pulling the global economic train their economies are doing much better uh... then than the u.s. despite the the efforts of their governments to impede that progress uh... through exchange controls and currency pegs and money printing that are trying to preserve the status quo as opposed to recognizing that the status quo is a rough quo is a raw deal that the world is getting ripped off in this relationship and that by allowing a dollar to collapse allowing their own currencies to gain in value they no longer have to export so much because they can simply consume what they produce again the the reason that that that you export is not so you can export you export so you can import something else but if you're making everything yourself and you don't need to import then why are you exporting why are you denying your own citizens the enjoyment of of that production right you you it's it uh... the chinese would get a much more enjoyment that they enjoy a much higher living standard if they could keep their products rather than our paper money because after all we get the products and they get our paper uh... but that we know we get much more uh... economic utilization from the products that they produce then they get for the money that they get from the money that we print in fact what they do with the money that we print it just they just stack it up they distort and they use it to buy treasuries we pay them interest and they buy more treasuries and now they've got you know a mountain that you know that would reach out up up up into the heavens of all this paper money meanwhile we're you know we're we're enjoying all the stuff we're wearing their clothes were we're using their electronics were sitting in their furniture we're we're we're getting a lot of use a lot of economic utility out of the things that they're giving up but they're not getting the same enjoyment out of the things that we give them in fact that they stopped trading if they kept their stuff other than they would get all the enjoyment and we would get uh... our inflation anyway that's it i apologize for the technical difficulties that screwed up the calls here at the end of the show so don't forget watch the presidential debate tonight we will be back again tomorrow with another two hours of the petership show here on shiftradio dot com the gold standard in talk radio petership show