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Dollar Needs to be Gold Backed for Chance of Survival and to Rival BRICS

The Daniela Cambone Show Feb 12, 2024

Daniela Cambone engages in a conversation with Eric Wade, the editor of Crypto Capital at Stansberry Research, also known for his authorship of “America Vs. Americans: How Capitalism Has Failed a Capitalist Nation and What We Can Do About It”. In their discussion, Wade delves into the central themes of his book, touching upon the U.S. dollar, bitcoin, gold, and strategies for reducing taxes. He emphasizes a shift in the capitalist approach, advocating for valuing and enhancing the worth of people’s labor. “Capitalism is if we could respect labor more, if we could make people’s labor worth more,” he says. Wade also talks about the prospect of offering free education without imposing burdensome tax hikes. Concluding on a bold prediction, Wade forecasts a trajectory leading gold to soar to $3,500 an ounce within the coming years. Dive into the video to gain deeper insights into his compelling perspectives.

CHAPTERS:

00:00 Theme of the book
4:34 Free education
6:44 U.S. Dollar as hard currency
8:51 Bitcoin
10:13 BRICS currency
11:30 Goal of the book
13:16 What made Eric write the book?
17:49 Socialism
19:42 Healthcare
24:17 Bitcoin ETFs/Gold
29:14 Bitcoin ETF out of the system
32:13 CBDCs

TRANSCRIPT FROM VIDEO:

00:05

Hi, this is Daniela Combone and welcome back to the Daniela Combone show now on ITM Trading. And today I am joined by someone you may know as a really an expert in crypto, also in gold, but he’s written a new book and he’s going to talk about it with us today. So please welcome to the show, Eric Wade, author of America versus Americans. Eric, so good to see you. And good to see you. Good to see you. Thanks for having me on.

 

00:34

Very much. Good to be reunited with you. I mean, I know everyone knows you as the editor of Crypto Capital over at Stansberry Research. And obviously that’s where we met. So I was thrilled when you said, Hey, I wrote a book now. I wrote a book and I got to get you a copy of it. America versus Americans. It’s got a touch of crypto in it and a whole lot more.

 

00:59

Okay, well, I know that there’s gold in there too, which speaks to my heart. But look, if I could give a summary of it, it says, you know capitalism is broken. The signs are everywhere. Despite its successes, capitalism also gave us the largest wealth gap in American history, a failed social security system, a weak currency, and the looming threat of AI destroying our workforce and possibly more.

 

01:25

you question in the book what if there was a better way. So first and foremost, what inspired you to write the book? Why now? I’ve been kind of thinking of capitalism like a solid B student, right? That you could look at it and say, it does so much, right? It’s lifted so many people out of poverty. It’s kind of taken over the world as far as innovation and as far as building wealth goes.

 

01:53

But it’s a B student. There’s so much more it could do. You just look around America and you see, we have almost a million homeless people. We have 30 to 40 million people that are living in what I call involuntary poverty. People that wish they could do better. And you think to yourself, those are both true, right? It’s both true that capitalism has lifted people out of poverty and is creating wealth.

 

02:19

But it’s also true that 30 to 40 million Americans got left behind in a wealthy country, in a fantastic economic system. So maybe we could do something better. So what I came up with was, can we, and your audience would probably respect this, the original Adam Smith vision of capitalism was to pay labor more.

 

02:45

Capitalism has kind of gone in a direction, gotten a bad rap over the last couple centuries of trying to squeeze, increase your profits by squeezing labor. That wasn’t the vision of Adam Smith at all. So we came up with this concept of, what is America doing that isn’t necessarily in the best interest of Americans? And I think…

 

03:11

That’s it right there. Capitalism is if we could respect labor more, if we could make people’s labor worth more, then that would help that 30 to 40 million people that capitalism’s left behind. So raising salaries, paying people more, paying less taxes? Absolutely. Raising salaries, paying people more, paying less taxes. That’s it right there. And it’s not just jack up the minimum wage because

 

03:37

The book talks about that is that, sure, you could do that, but then you’d have to price control everything. And I know your audience already knows what happens when you try that, right? The government that could price control everything and pull off a, let’s say, a living wage or a $100 an hour minimum wage so everybody’s rich, that’s not the kind of government that would last a minute in America. We wouldn’t tolerate that. So there has to be a different answer. And our answer is…

 

04:07

you can increase the value of people’s labor by education, just by unlimited lifetime free education. And we built a whole system in the book around, well, that sounds kind of ludicrous, right? Free lifetime, unlimited education sounds ludicrous. Well, how do we do that? Well, you’re speaking for Canadian. Okay. So.

 

04:32

So I mean, if you look at countries that do have free, I mean, it’s not free, but yeah, it could be free, right? I mean, I paid university in Canada, there’s a nominal fee you pay, but yes, practically free. Or if you look at most European countries where university is free or South America. So I mean, are they better off than in the US where it’s a paid system?

 

04:59

Well, yes and no. And obviously America is a special breed on its own. And we all know nothing is free. So our secret sauce is, okay, if you want a hard dollar and you want low taxes, and you want free anything, those three can’t work together, right? If you’re calling something free, somebody’s paying for it. So are you going to jack up my taxes? Well, no, the book calls for 10% federal income taxes, max.

 

05:28

And then once we balance the budget and pay off our debt, we want to go down to 2%. So anybody out there who’s thinking, why would I be the least bit interested in reading this guy’s book? Well, 10% federal tax is what we propose and a 2% once the debt is paid off. So there’s a good reason to buy the book right there. But let’s get back to this free education. We’ve come up with a way and the books, a lot of the book is spent explaining how that could work.

 

05:57

Well, how can we offer free education without jacking up taxes, without going further into debt? Because that price has to be paid by someone. And we call it American laborism because it’s an upgrade to capitalism. Just like capitalism was an upgrade to mercantilism. Or we had an economic system called mercantilism, and then capitalism came out and everybody read the book and thought, wow, that’s much better. Well, that’s what we’re hoping our book will be.

 

06:25

Capitalism is out there. It’s working. America seems to love capitalism, but we’ve got a better opportunity for Americans and can deliver on saving Social Security, hard dollar, thanks to backing it by gold again and other assets. Okay. Yeah. No. So that’s where I want to hone in on because a part of your thesis is make the dollar a hard currency again, backing it by assets. Are

 

06:56

quasi gold standard? Somewhat, somewhat. We want gold in the mix. And this may surprise some people because it’s a little bit out there. We want Bitcoin in the mix as well. We want America. You probably remember Joe Biden himself signed an executive order saying, as far as digital assets goes, America needs to be a leader in the responsible development of how we do this. And it shouldn’t surprise anybody

 

07:25

me at all to think Bitcoin should be in that mix. So gold and Bitcoin and other provably scarce hard assets, including diamonds and including American real estate to back the dollar. Because we all know that we’ve become kind of spendaholics in this country. We have a $4 trillion worth of desire, our budget, $4 trillion.

 

07:53

and we only want to pay $2 trillion worth of taxes for it. And that comes out of the hardness of the dollar, right? You can’t have both of those and have a hard dollar. So we want to shrink the size of government, shrink the budget, balance the budget, and get back onto a dollar that’s backed by assets. And I think in a world where we’re being teased and threatened with a BRICS currency backed by assets,

 

08:21

I think the dollar needs to head that direction. So I know a lot of the things we talk about in this, people say, yeah, great idea, never happened. That’s what the book was for, was to explain for almost like a color wheel, right? Where do you start on the color wheel? It doesn’t matter. Just pick one of these things that you like, hard dollar, low taxes, better services for poor people in America. And the book kind of works through how we can have all of that without compromising.

 

08:52

I mean, we just saw Bukele in El Salvador win second term. I mean, he made Bitcoin legal tender there. I mean, is that an initiative that you applaud? I absolutely applaud that. I don’t know. I’m a dollar fan. Red-blooded American boy, right? I’m a dollar fan. I would love it if Bitcoin just does its own thing. In El Salvador, they didn’t have a currency strong enough, right? They-

 

09:18

they were using the dollar. So it makes a lot of sense for them to split their legal tender into two choices, because like I said, they didn’t have their own sovereign currency at that time. I would feel, I wouldn’t mind if Bitcoin got that status here, but I think we can fix the dollar first. And I would think we maybe use the Bitcoin as a legal tender as a plan B. That if we could fix the dollar, if we could get it back to be a hard currency, low inflation,

 

09:48

the one that everybody wanted, great. If not, then I think Bitcoin will be here whether we like it or not. I think that the world is starting to adopt enough Bitcoin as a store of value that if we don’t fix the dollar, there’s my worry is if we don’t fix the dollar, there will be people who start using Bitcoin as their currency, whether the Fed says it’s okay or not. And what about, I mean, you’ve obviously been following the growing strength.

 

10:17

of the BRICS nations, there’s talk that they’re looking to create their own currency perhaps backed by gold. The rival, the dollar is the whole idea, right? That they can maybe stop being subjected to the full spectrum of American financial management, of freezing their funds or forcing world trade into dollars.

 

10:43

And we have to find an intelligent way to combat that. And I don’t think the intelligent way to combat that is by splashing around trillions of dollars of new programs and spending that we can’t back. I think that feeds into the threat of BRICS. Right? We’re acting as if we never need to even consider backing our currency while we have a rival that’s saying, we think we can pull this off. Now.

 

11:13

I’m not 100% convinced they’ll pull that off, but why would we want to have to combat against that with a weak currency? And I get the whole, you know, I… Go ahead. I guess, I mean, who, when you say we, it sounds like, I feel like, Eric, are you planning on running for politics? I mean, you obviously want someone in the political realm to read this book. I mean, you know, we saw RFK Jr.

 

11:39

say that he would like to see the dollar backed by Bitcoin or gold, exactly what you’re talking of. I mean, where do you want this book to land? And I mean, how do you want to create this movement, this momentum to change the system? So I’m obviously full of ridiculous things to say today. I’m hoping that either a politician grabs it and reads it, or I’m hoping there’s a day when a kid comes home.

 

12:08

from a protest or a rally and his backpack spills open and his dad and his grandpa or her dad and her grandmother, whatever, see that they got a copy of America versus Americans that they’ve been out yelling at people, why don’t we have free education? And dad can pick up or mom can pick up their copy and say, well, why don’t we have the sound dollar? And grandpa would say, why haven’t we saved social security? And all three of them are in that book. So.

 

12:37

If those three will pick up the torch or any one of them will say, you know what, that’s it. I’m running for office because there’s something in here that reaches the backpack yelling at people crowd that my future is at stake. There’s something that reaches the middle class saying, I can’t handle another couple trillion dollars worth of spending that we don’t have. And there’s also an answer for that crowd of my social security is worthless.

 

13:06

We’re not keeping up with the cost of living and how are we going to save it? Social Security is going to go bankrupt soon if we don’t do something. I mean, I have so many questions. I’m just fascinated. I’m a big believer in anyone looking to make a change. So kudos, Eric, to you for that. Thank you. I mean, people are going to say, Eric, I know you’ve done, not to embarrass you, but you’ve done very well in life. I mean, we could say that capitalism has done you good. It has.

 

13:33

But so what was the fire that started it for you where you were like, the spark, right? That you were like, no, something is seriously messed up in the system and I need to do something here. If it’s writing a book, it’s writing a book. Yeah, and the spark is my origin story on this was I was mostly raised in New Mexico and I don’t know how much people know about New Mexico. It’s a big state land-wise.

 

14:02

but small population and has somewhat interesting population because there’s a lot of poverty in New Mexico, but there’s also, for example, the Los Alamos National Laboratory or Sandia National Laboratory and the University of New Mexico. Los Alamos, at one point, was known as the best educated city in the world because that’s where they do scientific research. There’s the most PhDs of any city.

 

14:31

in America per capita or the world and also super high income. So you see that, right? You see the fact that there’s this super educated town in the middle of a relatively poor state that didn’t do well in any metric anywhere. And it doesn’t take a genius to realize, okay, so the best educated town is also the one pocket in this state that everybody makes more money.

 

15:01

And you look around and you think, what can we do? Can I put two and two together? Can I get more people more education? But I’m a low tax guy and I’m a hard dollar guy. So that was what took, I’ve been working on this for 30 years, so that’s what took 30 years to kind of weave it all together. And then blockchain came around and that solves a lot of our problems. Is can we offer unlimited free education?

 

15:31

If you want to rise up, you can rise up. You know, bring yourself up. But can we do it without taxes and can we do it without slaughtering the dollar? Yeah, we can. It took me 30 years to come up with though. How though? I don’t want to give the book away, but the idea is if we, the general idea is we’re going to ask anybody who wants this free education to contribute back with a little bit of work. And

 

16:00

If you want benefits, we’re going to go to in-kind benefits. We’re not just going to hand people cash. I know as someone who studied economics, there’s a big economic belief that the most efficient way to help someone is just to give them cash and let them sort out their own problems. I used to believe that. My economic schooling, I bought into that.

 

16:29

We’ve been doing that in America for 50, 60, 70 years. We’ve spent trillions upon trillions of dollars on helping people out, on bringing people up, on feeding people, anything. We’ve got government-backed student loans that are now a trillion dollar problem. We’ve spent trillions of dollars trying to solve poverty and we haven’t done it. So what if, over that 70 years, what if we had been investing in people? What if the first people who went onto welfare

 

16:58

or unemployment or anything like that. If we had said, sure, sure, sure, well, we’ll help you. We’ll get you what you need. But you gotta take a day’s worth of college, a day’s worth of high school, a day’s worth of anything, a day’s worth of trade school. For every week that you get a benefit, you take a little bit of education. Well, then we’d have 70 years of investment in education among our population, right? And one of the things we say in the book is the idea of the book.

 

17:29

If I could boil it down into one sentence is anybody who needs help, let’s educate them to the point where they don’t. It’s that simple. Let’s educate the people who need help to the point where they don’t need help anymore. And yeah, I got to come up with how can I do that with respect to the dollar and low taxes and save everything else. But that’s why I took a whole book to explain that one sentence is I think we can help our American brothers and sisters by educating them.

 

17:59

You know that the comments, Eric, are going to be from the capitalist crowd, especially. Well, many of the ideas you speak of, are they not socialist? I don’t want to say communist. You know my publisher, Brett, right? When I sat down with him to talk to him about this, that was literally the first, what is that, six or whatever words out of his mouth is, how is that not socialism? And well, for one, this is opt out.

 

18:27

This is completely opt out is that if you’re a rich capitalist, you pay your taxes, we’ll leave you alone. If you don’t want to participate in this opt out. It’s a federal program for one, so states can do anything they want. We can have Connecticut and California taking as high a taxes as they want out of their residence, but federal program, free education. Yeah. If you stop listening, when I say free education, you might think that it has some sort of ism on it.

 

18:56

socialism or communism. But we’re also saying 10% taxes, hard dollar, and opt out. That if you don’t want to follow this program, you’re free to go. And I don’t think there’s ever been a socialism or a communism that has said, and by the way, you’re free to go, you’re free to go become a capitalist if you want. Our dream is, one last little point here is, our dream is, if we do get people educated, if we do get people…

 

19:25

to climb up the ladder, then they bolt. They go back to being capitalists and they take their education and they go turn it into more money. That’s what I really dream of is this is capitalism 2.0. This is an upgrade to capitalism, if anything. Look, I’m very biased and I love this conversation because like I said, I grew up in Canada, I lived in Europe, I now live in the United States. So…

 

19:54

I love having these debates and conversations about, you know, what systems work, which are better. So before we move on, just this is just one point that I just would love to discuss with you is I often think, you know, how are we better off, right? So are you better off paying higher taxes, right? Because you have higher taxes in Canada, but yes, you have free health care.

 

20:24

pre-education. Or are you better off paying little lower taxes, you’re paying an insurance premium every month, high cost, but then I basically get to choose the healthcare I want, who I want to see. It’s an easier system to navigate the healthcare system here in the United States compared to that of Canada. You know, where are you? Because you’re still paying.

 

20:53

Right? So it’s either like, would you rather pay, you know, take a portion from your salary, pay every month, and I get to choose, you know, the type of insurance I want, who I want to see, or it’s just, you know, a tax depending on the bracket I’m in, and then it’s just free healthcare, free education.

 

21:13

Yeah, so healthcare is a huge problem. We try to tackle it in the book. Obviously America has one foot on both systems, right? That to some extent you get as much healthcare as you can afford, and to some extent you get affordable healthcare, but neither of them are working perfectly. So we try to tackle that. But in a bigger sense, when we’re talking about the big problem.

 

21:43

And healthcare causes a lot of healthcare expenses cause a lot of bankruptcies in America, even so, right, when people people can’t afford what they need. But but shifting back towards the the general idea of what we’re trying to do is, I believe I agree with you. And I believe, yes, everything has a cost. But we’re going to shift some of the cost of the

 

22:10

of the social systems that we think can improve people, that can bring you up out of poverty, that education, that free education benefit that we think solves everything. We’re gonna shift some of that to the time of the person that’s receiving it, right? That’s the price they pay. Our goal is to make this completely self-sustainable so it doesn’t rely upon tax revenue. Because remember I said, first thing we do, and…

 

22:38

capitalism and communism or Marxism or anything, they didn’t set out what a decent tax rate would be. We didn’t start our capitalist journey with 37% taxes, right? We got there by continuously voting ourselves higher and higher taxes. So in our book, we said, yeah, we believe there should be a cap, a statutory cap on taxes, 10%. And then 2% when the budget, when the debt is paid off.

 

23:06

And that would take a long time. We got a 30 year plan for paying off the debt. I think I’m probably the only one out there who has the imagination to say, and we could pay that off, right? It sounds ludicrous, but a 30 year plan, just like a home mortgage, we could be debt free and then go to 2%. And you can’t have 2% federal taxes if you’re paying for things, right? That’s our military budget. Basically we want our federal taxes to go to a military budget once we have this paid off.

 

23:35

So it has to become self-sustaining if we’re going to pull that off. So anybody who’s still thinking, why, okay, Eric, you haven’t told me why I would want to read that book. Why do I want to shell out 26 bucks and then get on Amazon’s list of people who are considering that there may be something better than capitalism? That’s it right there. 10% federal taxes, self-sustaining benefits, and debt paid off, and 2% once it’s paid off.

 

24:04

I think that’s the advantage right there is we have a plan to get there. And you’re already crushing it. You mentioned Amazon on a lot of Amazon lists. So the book’s doing well, Eric. And I think you say, you know, why do you want to read it? I always say why, I always believe that you need to, even if one does not agree with your points of view, it means the only way to really grow and educate yourself is by reading and learning about different points of views, et cetera. So I think that in itself is a reason to read the book.

 

24:33

But now that I have you here and before I let you go, how can we not talk a little bit about gold and Bitcoin? Yeah. Because it’s been too long. Uh, I mean, you are, I always say you’re one of those rare high hybrids out there that has embraced gold and Bitcoin. I mean, you’re a sound money advocate. That’s for sure. Um, so let’s talk a little bit about, uh, the advent of the Bitcoin ETFs. Did you think it would have?

 

25:02

What’s helped more or what’s just your take overall on the incoming Bitcoin ETFs? Good or bad? Good in a way. And yes, I did think it was going to help more. But I think we front ran ourselves more than we thought we did because remember in October when the rumor, it was out and gone in a day, but the rumor that they had been approved came out. Bitcoin was trading in the 20,000 something, 25.

 

25:32

and it shot up to almost 30,000. It was mid to late October. And Bitcoin really rallied on a false story that the ETFs had been approved, right? And then by the time they really did get approved, Bitcoin was trading for 40 some odd thousand dollars. So I think, yeah, I think a lot of the anticipation was what moved Bitcoin from October, November, December, January. We had a pretty good Bitcoin season.

 

26:01

So then when they came out, even though we’ve got billions of dollars of money that has flown into these ETFs and they’re starting to accumulate a sizable number of Bitcoin, so you can’t ignore it. Even though we didn’t get the amazing price pop that I think a lot of people were expecting, we are getting some new advocates and some new investors who think differently than the standard.

 

26:31

Bitcoin investors. So I think this is going to be a really good long-term play. I think it’s going to take people, like usual, it’s going to take people getting involved and going through a cycle to really see what the difference is. But we don’t have a lot of time for this long-term play I’m talking about because we’ve got the halving coming up on Bitcoin. And the number of new Bitcoin entering the market is going to drop from 900 a day to 450 a day.

 

27:01

while we have ETFs that are sucking up more than that. They’re buying faster than the miners can produce. So we’re in this weird, why isn’t it moving up stage? It’s an accumulation stage. Interesting. It’s a textbook accumulation stage where it’s a solid asset, we’ve got more and more people believing in it and longer and longer term holders coming on board. And the price is giving us a, it’s a gift. A gift from the…

 

27:30

from the Bitcoin community that you can even accumulate at this price. That it’s not higher. That it’s not higher for folks that wanna buy? Yeah, absolutely. And I’ll put that same argument to gold, is gold is the same price as it was when we were $6 trillion less in debt, right? Gold has been so patient with us. And at some point, I think gold is gonna whiplash some investors, because I think we’ve been, we live in a country and in a society

 

28:00

and we’re instantaneous consumers and we think of everything as happening now. And gold doesn’t have that personality and gold buyers doesn’t have that personality. Gold has a decades or a centuries personality. Gold solves problems over years and we have minutes of patience. I think gold is going to surprise a lot of people. My target is $3,500 for gold. And again,

 

28:28

It’s giving us all of this very generous, very gracious opportunity to accumulate, and then it’ll make its move. That’s my story and I’m sticking to it on gold. $3,500 in this year? No, I think as much as I would like to see that because we’re long gold in my crypto capital portfolio, if you can imagine, we bought tokenized gold, it won’t be this year. That would hurt like…

 

28:56

like the blue blazes, wouldn’t it? Gold going from 2000s to 3500. So yeah, I think it’s gonna take, I think it’s gonna take a couple of years to get there, but it’ll get there. Like I said, gold thinks in terms of decades, so let’s give it some years and it’ll be at 3500. I was thinking of you the other day, I had Jim Bianco on Bianco Research. Yeah. Yeah, and I was like, oh, I needed to bring Eric on in this moment. So he was talking about, you know,

 

29:26

His concern for Bitcoin is that they’re making a mistake with it in the sense that it was created to be outside of the system. But now with ETFs, does it financialize Bitcoin? Does it financialize crypto that now it’s in the system and that’s not what it was created for? It could.

 

29:53

the documents, the founding documents of all these ETFs say they’re very limited in what they can do with their Bitcoin, that they’re not supposed to be out there lending it or anything like that. So we have little risk in that respect. But what I’m more worried about is the Bitcoin that are in the ETFs, and this is going to get maybe a little nerdy, but you can’t use them for what Bitcoin was built for.

 

30:23

currency, right? I should be able to pick up my phone and send you some Bitcoin without anybody being in the middle manor or the wiser, right? It’s peer to peer. You can’t do that with the Bitcoin that’s in the ETF. So that’s the price that people pay or the bargain they make is that these Bitcoin are being taken out of circulation. Maybe Wall Street will Wall Street.

 

30:50

with them. I wouldn’t be surprised if someone out there with some ETF had some rogue employee who did something wrong. That’s Wall Street being Wall Street and that’s Bank of England being Bank of England, right? They’re going to do that. But what the real price, the bargain we’re having to make is, is if you own the ETF, you can’t use the Bitcoin the way Bitcoin was meant to be used, which is pay for something.

 

31:18

send some because you own the ETF and BlackRock isn’t going to let you just send your BlackRock shares peer to peer to somebody else, right? They have to go through a transfer. They have to go through some. So that’s the difference. And I think that the that I think people is going to we’re going to have to find that audience who says, I just want to own exposure to it. I like Bitcoin ETF in an IRA where you weren’t going to be spending it anyway.

 

31:48

That makes a lot of sense. But Bitcoin ETF, if you really wanted to own Bitcoin, I think you’re better off owning the Bitcoin. Do a little bit more work. And your audience knows that too, right? Owning a gold. Well, it’s like GLE versus owning physical gold. I mean, you’re just better off owning the physical gold. You got it, you got it, exactly. Do you wanna own gold and carry it around, or do you wanna own beneficial gold and then take the risk of that? So. Yeah. Last question. And it’s not a lot, I laugh because it’s like.

 

32:16

There’s a loaded one. Usually the last question was supposed to be a light one, but we didn’t even talk about central bank digital currencies. I know we spoke about it in the past, but any updates in your mind about where we’re going with central bank digital currencies? I mean, governments are openly talking about the coming of them now. They are, and I think they want them badly, but I feel like the momentum has slowed on their dream digital currency, right? The dream digital currency of…

 

32:44

we can prevent you from buying more butter if your scale tells us that your BMI is going up or something. That’s their dream. And I think they’re realizing that they’re losing the momentum on that. And I think that thank all of the people who screamed and shouted about that. From the beginning, I said, we may get a digital dollar, but we’re not going to go that far. I think America would have hit the brakes. And we did.

 

33:11

I think enough people have made enough of a mistake. Or maybe they want you to think the momentum has slowed. They want you to think it’s slowed. They do want me to think the momentum has slowed, but I think it really has. And I think that, okay, they keep, I say they, the San Francisco Fed keeps saying, well, the Fed keeps saying, no, we’re not going to do that. We’re not going to do one of those draconian.

 

33:39

digital currencies where we can track how much beer you buy. But then they also have job openings at the San Francisco Fed saying, we want to help get someone in here to build us a better digital currency. So how far they’ll take it because America needs a faster banking system, a better banking system, just to keep up with the rest of the world. What we don’t need is government intrusion into our personal lives. And so I think we’re going to get that better digital currency.

 

34:09

And I think it would.

 

34:12

If we keep yelling, we won’t get the one that we don’t want. And I’m going to stick with that for a while because I don’t want people to, I don’t want people to be so afraid of it that they just stop yelling about it. Got it. Point made. Point made. Eric Wade. I’m so happy we caught up. You know, like I said, during my time at Stanbury, you were absolutely one of my favorite.

 

34:35

people to work with. You’re too kind. I truly believe you care for people and that’s where all your good work comes from. So I wish you nothing but success with Americans versus America. America versus Americans. Sorry, America. I urge everyone to read. America versus Americans. I got it. America versus Americans. Yeah. Get your copy.

 

35:02

We got all the answers to all these great questions and thank you Daniela. We could have talked for another two hours on that. I know. I just always goes by so fast with you. Oh, you got to come back on. Thank you, Eric Wade. Thank you. You are a gem. Thank you all for watching. We’ll have more great content with varying opinions as you could see coming your way, but it’s good. It’s all good for the brain. So stay tuned to the Daniela Comboni show and don’t forget to sign up at danielacomboni.com so you stay on top of it all. That’s it for me.

 

SOURCES:
https://www.simonandschuster.com/books/America-vs-Americans/Eric-Wade/9781637632369

https://twitter.com/ericrwade?lang=en
https://www.youtube.com/watch?v=DTn2BIUXnZ8
https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/

https://www.youtube.com/watch?v=uzrzDTKyKW4

https://www.youtube.com/watch?v=4ajsXjjSzN0&t=10s

https://www.google.com/finance/quote/BTC-USD?sa=X&ved=2ahUKEwi20Mz8jqCEAxUmMUQIHZNZDMwQ-fUHegQIFBAY&window=1Y

https://www.google.com/finance/quote/GCW00:COMEX?sa=X&ved=2ahUKEwijnIi7j6CEAxXTM0QIHdimB74Q3ecFegQIEBAX&window=1Y

https://www.youtube.com/watch?v=50bUVhQtZGw&t=1s

https://www.youtube.com/watch?v=fpb-qJv6dBs

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

Sources & References In This Article

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