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Dr. Ott’s Meeting With Former Fed Chairman Paul Volcker

Coffee with Lynette Jul 14, 2022

We have a very special guest, Dr. Alma True Ott. Now Dr. Ott was on Wall Street in 1984 as he trained in derivatives, including futures markets. He learned how America operated financially. At the end of his training he met Paul Volcker, the then Chairman of the Federal Reserve, and let’s just say that after that meeting, he went on a 25-year quest to research and understand money and the power of the Central Banks, for a very good reason.

CHAPTERS:
0:00 Introduction
2:44 Meeting Paul Volcker In the 80’s
16:22 Paul Volcker’s Lesson on Gold vs U.S. Dollar
20:21 De-Globalization
34:47 Will Hyperinflation Happen in America?
43:43 The True Power of Gold & Silver
50:42 BRICS Nations Creating New Currency
52:26 Preserving the Purchasing Power of Your Money
1:00:21 Outro

TRANSCRIPT FROM VIDEO:

Dr. Ott (00:00:00):

What is even, why have sound money? The gold and the silver is always the protector against those inflationary cycles. Always.

Lynette Zang (00:00:10):

We have a very special guest today on coffee with Lynette, Dr. Alma True Ott. Now Dr. Ott received his accounting degree from Southern Utah University in 1982, as a promising young man, he went to work for the Intermountain Finance Group. And in 1984 was trained in derivatives, including futures markets and all that sort of garbage. But he spent a lot of time on wall street and learned how America operated financially at the end of his training. And this is the part that really excites me, guess who their very special guest was? Paul Volcker the chairman of the Federal Reserve. And he spoke to these graduating attendees now trainees. Now I’m gonna let him tell you, Dr. Ott tell you this story, but this fateful meeting impacted him for the rest of his life and sent him on a 25 year quest to research and understand money and the power of the central banks. He has published many, many articles and books on these topics, as well as nutrition. He’s done a lot of things in his lifetime, but between 1996 and 2001, he had a radio show called The Story Behind the Story, which won the Peabody award for radio documentary at his station K-sub radio. But he also received a PhD from American College in 1994 in Nutrition, and is the founder and owner of Mother Earth Minerals. So he focuses on two key areas that you know are near and dear to my heart, your health and your wealth, Dr. Ott. We need to have that health conversation on BGS since health is a critical element in maintaining a reasonable living standard. But today I’d like to focus on the wealth part. Thank you so much for joining us today.

Lynette Zang (00:02:34):

So I’m particularly interested in your early Wall Street training and your in person experience with the much lauded Paul Volcker <laugh>. So could you please share with us and our viewers what that experience was? Cause we do see that many people want the Jerome Powell to be a Paul Volcker and I have different opinions around what happened then, and as well as I do now. But I’d like to hear about your personal experience, Dr. Ott.

Dr. Ott (00:03:08):

Well, thank you. It was definitely a, an experience. What I, I like like driving a Ferrari down the autoban or the freeway 170 miles an hour and hitting reverse and stripping your gears. Cause that’s really what happened. In my life, keep in mind. I graduated in accounting, went to work for a brokerage firm actually and received a scholarship for four weeks back to wall street. I guess I don’t mean to, to brag, but they told me, they told me I was in the top two percentile in aptitude for this. It was high level, more or less elite training though. I didn’t know what any better. I was just out of, out of college. I was looking to take the world by storm and was happy to have the opportunity. And it was that it was a great opportunity. So imagine 20 individuals that were select hand chosen for this special week, four weeks there in the marquee Marriot top of top of the food chain. And we were absolutely given the back the back seat pass, if you will, we were given the golden ticket and we began the week early morning, wake up call breakfast in a bagel and over to the New York stock has changed and to ring the bell. That’s what we were privileged to do. That was how it all started. And it was a whirlwind. The whole four weeks is one day after another. It was like, wow. Yeah, amazing information backseat passing on how to do it. I was a young, newly married Mormon boy from Utah and I was surrounded by there’s about four or five of the, of the female persuasion with us. But mostly were, they were a young man wearing the yamaka. They were Jewish persuasion. And I had no problem with that. My roommate was Jewish. We had some, we get along very well. And so there was some nomenclature that was used that I wasn’t aware of being not really Jewish. What struck me was Mr. Volcker’s introduction. This was the final day of the four weeks. I was scheduled after his presentation in the middle of the afternoon to take the shuttle taxi cab to the airport and fly back home. So this is the wrapping up time. Okay. It was like the, the cherry on the top of the of the shake, if you wanna call it that.

Lynette Zang (00:05:58):

And this was 1982?

Dr. Ott (00:06:03):

1984

Lynette Zang (00:06:03):

Okay. Cause we want everybody to have this in context.

Dr. Ott (00:06:06):

Yes. Ma’am, it’s important.

Lynette Zang (00:06:08):

It is.

Dr. Ott (00:06:10):

Volcker was we didn’t, it wouldn’t even told who was going to be there. It was a special, you know sendoff from one of the most important speakers and keep in mind the whole four weeks, we had a three or four per week of some very high hitting people, heavy hitting people. Paul Exeter was one of my, was a chairman of city bank at the time, one of the very big banking magnates. And we had people head of head of Goldman Sachs that came in and these were the top of the food chain, if you wanna call it that. So it was interesting to see who would, who would be the final wrap up speaker. And as he came in, he was introduced as chairman of Federal Reserve. The, the New York Fed Paul Volcker. Well, this is about as, you know, top as top of the food chain, as you can get.He came in and I was privileged to be not five feet away from him as he addressed us and keep in mind this whole four weeks, we learned how to do arbitrages. We learned how to do Forex trading, currency exchanges, commodities trading of the highest orders. So, and then not to not the least of which was learning how to evaluate, identify up and coming stocks and initial public offerings IPOs. So we were given all of this now. Okay. How we, how we going, gel it together. So this was at we were, we’re all looking at, okay, you’ve got insider knowledge that not many people had mm-hmm <affirmative>. So this is what I was expecting to have, you know, that all really kind of mesh together. And Mr. Volcker comes in and proceeds to give each one of us a laminated index card. And that had some red numbers on it. It was protected. Of course, these are very important numbers. You never have these leave. You, these are direct line numbers to the various mints of the world.

Lynette Zang (00:08:22):

Oh, wow.

Dr. Ott (00:08:23):

Yeah. the United States Mint, the South African Johannesburg mint, the Canadian mint, etcetera, etcetera. And he said, these are special numbers. They’re direct line numbers. You are look…You always keep these in mind because this is what you will need to do. He, he was matter of fact about everything. It was like, oh, we were just subordinates. And he was giving the orders as, you know, a general the foot, on the battlefield. So he basically started the conversation this way. He brought in a metal waste basket, you know, small one and put it up on the table where he was presenting proceeded to pull out of his coat pocket, a very large, long Cuban cigar. I’m assuming it was Cuban. It was pretty green, but he bit a cop bit the end of it off, put it into the, the, the waste basket, put it into the corner of his mouth and then pulled out a money clip. And he peeled off the first bill and the money clip and I was very close to him there. I thought, well, this, this is different. It didn’t, it didn’t look like a regular greenback. It was brown in color. He pulled it and he flipped it and then he turned it around and showed us. And it was, I remember correctly was president Woodrow Wilson on the front, but what struck me was looking at all the zeros. It was a $100,000 bill.

Lynette Zang (00:10:06):

Oh, oh, okay. Okay.

Dr. Ott (00:10:08):

And I’m sitting here doing a double take. I didn’t know. There was such a thing. Can you, can you break a hundred thousand dollars bill, please? <Laugh>

Lynette Zang (00:10:19):

Well, it was internally for the central banks.

Dr. Ott (00:10:22):

Yeah. I mean, I mean, I don’t know what, what good those would be other than just to carry around to show people. I don’t know it’s but he did have one. And, and he, his whole message was he took that bill, crumpled it up, then brought out his, his gold looked like a gold plated, lighter lit it and then proceeded to burn the bill. And then he turned it upwards and lit his cigar with it. That was the, that was the metaphoric message. Right? So he lets the bill burn and then drops into the metal waste basket. And it proceeds to puff away, you know? And I’m not a fan of cigar smoke, especially that. And he was blowing it out pretty thick. Well then he proceeds to look at us all. He’s just gonna stare at us all. And clearly the impression was I have big bucks to burn. I have money to burn, but he went and he, he brought out another a hundred thousand dollars bill from his money clip and pointed and showed us all again. He says, now this is not for you. This is for one thing only. And he said, and I’ll never forget these words. He said, this is for the consumption of the GOI. Now I had no idea what GOI meant. As a young, young, 20 something year old. And I look, I had my notepad and my legal pad and I wrote FOI. I thought it was maybe an acronym FOI, GOI gross over income. What is it? You know, what is GOI? I didn’t bring a bell as an acronym. So I wrote GOI question, mark, question mark. You know, what does that mean? But nobody else seemed to know, everybody else seemed to know what it was. I had, no, I was the only one in the dark. So I looked around, everybody’s like just kind of nodding their heads. And then it proceeded. The next part of his message was you do not use these. He brought out and he showed us the other hundred thousand dollar bill. His central message was, this is not for you. You need to do something else. And he brought out in his one suit coat suit, pocket, a handful of gold coins and shook them clink clink clink clink clink. They make a, a kind of a neat sound when they click together that way, you know? And then he, he just showed him, they were, there were some US gold Eagles. There were that’s great. Yeah. course they weren’t in the plastic. They were, they were just in this pocket.

Lynette Zang (00:13:23):

Yeah. Raw in 1984 they would’ve been raw.

Dr. Ott (00:13:26):

Yeah. And so he, he took the, he had others. He had maple Leafs. Mm-Hmm <affirmative> and others, others just to show, as he clinked them together, he said, these is, these are what you buy. You do not use these. And he showed us the federal reserve note. The recipe he was giving us was you take all your profits after expenses, which would be your net profits, he said, do it quarterly or even monthly, if you can, and you buy these, use this, you call these these numbers and you can bank wire transfer into it. And we will provide you these gold coins in a special numbered box and gave us also numbers, you know, the numbered accounts to set up number numbered bank accounts with. And they were, there was Swiss bank accounts, cayman island accounts, and even a few on shore accounts. Okay. So this is how you do it. That was the message. That was his only message.

Lynette Zang (00:14:52):

So basically saying that you should take these, any profits that you make in Fiat and convert it to real money gold. That’s what he was saying?

Dr. Ott (00:15:03):

He didn’t say real money. Gold. He just said gold. Okay. He just, it goes right. Yes. And so they were not in, in plastic at the time. They were all, they were bright and shining and beautiful, of course. So here I am he burned a hundred thousand bill to show that it was worthless. And then he said, you take those to profits. And that. The second part of his message was he had a George Washington, $1 bill, and he says, it may not be in my lifetime. It will probably be in your lifetimes. You will see this where the $100,000 Woodrow Wilson would not be any different than the $1 bill. Now, I didn’t quite understand what that meant either. I’m sitting like what? Like I said, the Ferrari was stripping the gears. I was not expecting that, the least thing. I mean, really the last thing I would expect was that, so that was his, that was his five to 10 minute spiel. That was it.

Lynette Zang (00:16:22):

So what did you… at what point did you understand what he was trying to tell you? Because there were a few things in there. Number one, and I became a stock broker in the same time period, 86. So this was 84. So we share a lot of things in common. Wow. As far as that goes. And do you think that what he was really trying to tell you is that what this hundred thousand dollar bill currently can buy you, that purchasing power will only be worth a dollar’s worth of purchasing power because of the inflation? Cause he is lauded as the great inflation fighter, right?

Dr. Ott (00:17:08):

Mm-Hmm <affirmative> I see that in the rear view mirror, in retrospect as yes, that’s what he was saying. But at the time I didn’t know what in the world he meant. It was shocking to me.

Lynette Zang (00:17:22):

So what did you take away from that?

Dr. Ott (00:17:25):

Well, after the shock of it, cause I was like, my knee jerk reaction Lynette was this guy is just way old fashioned <laugh> he’s he’s gotta, gotta get out more type of thing. You know. I really. Shame on me for that attitude because I.

Lynette Zang (00:17:50):

Well you know, but you were young and here you are, you know, this federal reserve, you know, really, this is what I would like to talk to you about a little bit. During that period of time, he famously raised interest rates intra day, up to 21.5%

Dr. Ott (00:18:08):

Right

Lynette Zang (00:18:10):

Now that was credited with the breaking the back of inflation. But I often want thinking about that whole period of time going back before that, because as you well know, we transitioned from a, at least a quasi gold standard into a pure debt based standard. And the central banks were really given full control over inflation. And the key tool that they’ve used are interest rates. So I feel as if they needed to push interest rates up high to create this 40 year, how many year bull market run in bonds because from there forward, you know, that was the peak. And then every time we hit a recession, well, would they do, they lowered interest rates five and a half to five and three quarters percent to inspire people to borrow and spend. So you know, even though that was credited, as far as breaking the back of inflation back then, and we look at what the global central banks are doing today.

Dr. Ott (00:19:27):

Yeah.

Lynette Zang (00:19:27):

Thinking that they’re being so aggressive, but you know, I wonder if that, that wasn’t the start of raising the interest rates to give them ramp room and to give them a tool to regulate the rate and speed of inflation.

Dr. Ott (00:19:44):

I would concur with that because he was making it clear. This was multi multiyear in the panic, as he said it best. I won’t see it in my lifetime. Mm-Hmm <affirmative> but you may very well see it in yours. Okay. Yeah. So it can probably have 40 year spread. I would think 30 to 40 years spread. And so it was clearly something that was not just in a decade, it had to be more like three or four decades. And so it was, and then it could, it would also be three or four decades in the rear view mirror too. So it’s, it’s easy to second guess when you look at history, but if you’re part of the ones making the history, they’re the ones with the plan, not us. Okay. So we can, we can speculate and, but I’m not a prophet. I have no crystal ball and I sure I do not sit in their big meetings. Right. And he, he did make it and he did say this, it was not him doing it. He said the people, the men, I work for.

Lynette Zang (00:20:49):

Interesting.

Dr. Ott (00:20:49):

The people I work for. Yeah. I prob I would probably say I’ve interviewed a number of, of people in the know on this over the years Lynette and I would say probably 300 to 400 people at the top, top, top mm-hmm <affirmative> people say, well, Klaus Schwab today or Harari. No, no, those are lower run people.

Lynette Zang (00:21:11):

Yeah they are.

Dr. Ott (00:21:13):

They really are, but you know.

Lynette Zang (00:21:17):

Well let me ask you something to going back to that period of time. My Alma mater was Shearson and I remember so much of everything was about globalization, globalization, globalization. And I remember thinking at that time, yeah, well, I don’t know how well that’s gonna work out and then you saw jobs shipped out, but during that period of time, and now we’re supposedly going through a deglobalization now

Dr. Ott (00:21:49):

<Laugh> you’re right,

Lynette Zang (00:21:50):

Right. Yeah. What are your thoughts on that? Cause I know you have to remember that everything, everything was about globalization in the eighties.

Dr. Ott (00:21:59):

I kind of would call it a macro view versus a micro view too. Mm-Hmm <affirmative> they needed to expand the, the money supply globally. And they, again, the Bretton Woods agreement in 1944, all of that set the stage for the U.S. Dollar to become the world’s reserve currency. And there was a wide, wide range of that. So that’s important in the globalization, but when they get that goal of finish then is to micronize it, in my opinion, that’s what they would be doing with it to go shrink the market up. And I think it’s part of their agenda. If you look at the Rockefeller foundation and what they’re trying to do is to also kind of restrict the human population in that respect too. Mm-Hmm <affirmative>, I mean, it’s very much a part of the agenda. They, they really do believe, I think they’re crazy, but they believe that there’s too many humans on the world right now. There’s too many humans on this rock. And so part and parcel of this in my research has been to, you mentioned health and wealth going together very much. So it’s actually the same eight families also control the oil in the world and the big pharma of the world. Right. Same families

Lynette Zang (00:23:15):

And big pharma controls all the seeds and the foods.

Dr. Ott (00:23:18):

Yeah exactly.

Lynette Zang (00:23:20):

I mean this is just over the time a consolidation and consolidation that’s actually, I did not, it’s been a while since I trusted the, the food supply chain it’s and it’s a big reason. There are two big reasons why I started my food forest in Phoenix and my bug out location with the food up there, because what we know is that you know, I ate organic before it was popular to eat organic.

Dr. Ott (00:23:48):

Good for you.

Lynette Zang (00:23:49):

And when you bought an apple, an organic apple, it looked like you just picked it from the tree. So it would have its blemishes. I mean, it, wasn’t perfect. You go into any grocery store right now and you go to the organic section and that stuff looks absolutely picture perfect.

Dr. Ott (00:24:07):

Yeah.

Lynette Zang (00:24:07):

Right. And if they can dumb you down, if you’re not eating food that supports your brain function, as well as your body function and your immune system, but you can think more clearly. And if you can think more clearly, then it is possible that you can see the garbage, excuse me, that’s happening all around us and with the money supply. I mean, they came out and admitted that they, the fed did that. They don’t understand inflation well <laugh>

Dr. Ott (00:24:40):

Oh my goodness. Yeah. <laugh> I mean, that’s laughable,

Lynette Zang (00:24:45):

It’s completely laughable. I mean, yeah, we can do as much of this as we want and that’s not gonna create inflation.

Dr. Ott (00:24:53):

No, no, it really is quite quite comical and you have to laugh at it, but are they really that inept? Maybe now, I don’t know. You made, made the point the Bernaki of the world and the Volckers of the world. You know, I just, the fed is isn’t even relevant anymore and looking at the BIS and the whole agenda of the coming digital currencies, you know? So I think I may be by design too. I’m speculating now, but it’s just like put some idiots in charge and it makes them irrelevant.

Lynette Zang (00:25:36):

Well, you know, it creates scapegoats. I think that Powell I’ve read enough of his work to think that he’s, he wishes that he was a Paul Volcker in that he wishes that he had the cajones tocactually raise interest rates above the real rate of inflation. I don’t think that would stop it anyway, cause we’re at the end of the currencies life cycle. But what do you think about, you know, having met Paul Volcker and you’re looking at J. Powell, what do you think about the two of them?

Dr. Ott (00:26:18):

Totally complete apples and oranges. I think one was relevant. I think one is totally irrelevant. Okay.

Lynette Zang (00:26:26):

Well that was the beginning. This is the end.

Dr. Ott (00:26:29):

Yes. And I think there’s a reason for everything. They do nothing without having it be for the GOI to consume. Okay.

Lynette Zang (00:26:38):

What you mean by that is the general public, right?

Dr. Ott (00:26:42):

The general public keep ’em keep ’em dumb down, keep them keep ’em hypnotized by the media and all is good in the world. That’s why they control the media too. And this, they want you to believe it’s all, some nonsensical conspiracy theory, but it isn’t, it’s just common sense when you just look at it. So Volcker finished up his little presentation and then just basically asked if there was any questions. Well, I kind of let go of my question. What is GOI <laugh>

Lynette Zang (00:27:19):

Good thing

Dr. Ott (00:27:20):

Because I mean, everybody else seemed to know what it was. I wasn’t okay. I didn’t wanna appear too ignorant. Right. But the big question was clearly and nobody would seemed to wanna answer, ask the question. We’d spent four weeks of intense back room trading, insider trading to learn how to diversify portfolios, to manage risk. Right. And one of the big key thing is, is to spread the risk out. An actuarial table is all about a large pool, right? Of potential risk. So I asked him, I said, I raised my hand. He looks at me and he, and he I’ll never forget. And he looked at me, he says, you’re the moron boy from Utah.

Lynette Zang (00:28:04):

<Laugh>

Dr. Ott (00:28:05):

What?

Lynette Zang (00:28:06):

Did you have a stamp on your forehead?

Dr. Ott (00:28:09):

I didn’t have a yamaka I don’t know? But I said, yes, sir. He goes, you question. I said, chairman Volcker with all due respect, we spent the last four weeks learning how to diversify risk. Why are you now telling us to put all of our eggs into one basket? Yes. You know, he didn’t even act like he heard my question. He act like it was, he didn’t laugh or he didn’t smug. It wasn’t smug, but you know how about three minutes is when you’re in that type of…

Lynette Zang (00:28:55):

Yes, I do. Actually.

Dr. Ott (00:28:58):

He puffs away on his cigar, which is still, still going and he’s and he does some pretty good smoke rings. He just pops and blows some smoke, rings out. It’s like mesmerizing. Okay. But enough of that, it’s now three, four minutes. Did you do I need to re rephrase the question? And he just said, he says, this is how he answered. He reached back into his pocket, brought out his gold coins, clinked them again, click, click, click, click, and said, until you have these, you have no eggs. I asked him, I said, isn’t I putting your eggs in one basket? Why should we put all of our eggs in one basket? You have these, you have no eggs.

Lynette Zang (00:29:53):

So this is the chicken. This is what creates all of the eggs.

Dr. Ott (00:29:59):

Yes. Those are the eggs.

Lynette Zang (00:30:03):

And who knows <affirmative> and who knows more about money than central banks. And he knew that we had just gone on to this debt standard controlled by his job, the central bank.

Dr. Ott (00:30:18):

So that’s what I just like, I was almost in shock and it’s like, what? Okay, you came out here and burned a hundred thousand dollars bill and said, this is not for you. It’s for the consumption of the goi. Now you’re saying that unless you have these gold coins, you have no eggs to be, even put into a basket? Yeah. I was like I said, my gears were stripped when it, I mean, it was like what in the world, this is, this is the cherry on, on, on the Sunday. This is the, top. I guess I was in some cognitive dissonance. Mm-Hmm, <affirmative> my only way to survive. That was to say, well, this guy’s eccentric and really not with it. He’s out there. <Laugh>, you know, he’s old fashioned is he’s as old fogy as his stogy. Right? <Laugh>

Lynette Zang (00:31:19):

But in reality, I think that what he was really telling you was that these were on a path of destruction by design. Cause that’s the way the whole system was designed was to inflate away your wealth. So that number one, governments could charge you taxes without having to go through legislation. So the inflation tax, cause they get the money before you do and corporations get to actually pay you less and less for your labor. Because again, that inflation tax, you know, you look at what the average wages now and my God, we have people that millennials that are earning 250,000 a year in our living paycheck to paycheck. So he wasn’t really very far off with that a hundred thousand dollar bill, which were actually, those were used inside of the system between central banks. Right. Okay. So it was a way to transfer a large amount of money. And it it’s interesting because I haven’t, I don’t know. I don’t know where I put it, but I remember 2000, it was 2008 and I was in an airport. I was on a trip and I was coming back and I was sitting there. I picked up a people magazine just for a little bit of, you know, to shut my brain down a little bit. And in there I have this ad, I saved it and I framed it. There was it was, it was from the federal reserve and there was a hundred thousand dollars bill there. And then underneath it was a penny and it was, and this was a gold certificate. It was a hundred thousand dollars gold certificate. And they actually were likening that gold certificate to how you have not even lost one penny while we’re talking nominal terms, obviously. But that’s what they were, oh, this was on FDIC insurance. It was on so that you would not run on the bank in 2008 when everybody was panicking. That’s what that ad is. And I know I have it. I know that I framed it. So I have it somewhere, but it’s interesting that, that he brought out that a hundred thousand dollars bill cause wow. I mean, I remember, I remember one time somebody that was doing business with my father came to the house and he wasn’t there at the time and he gave me 12, $1,000 bills.

Dr. Ott (00:33:54):

Wow.

Lynette Zang (00:33:55):

I sat on the sofa, holding them. I was too afraid to put them down cause I didn’t wanna lose them, but people don’t remember cause a lot of people weren’t alive when this happened that we actually did have $500, $1000, $5,000 and $10,000 bills that you and I could have used. Right? They didn’t demonetize them, but they quietly took them out of circulation. So when one got deposited in the bank, it just never left. Now that a hundred thousand dollar bill maybe spends like a $5 bill. I mean I might be exaggerating a little bit, but do you think that we have entered a period beyond central banker’s control? Do you think that we have entered a period of hyperinflation? What do you think?

Dr. Ott (00:34:55):

I think absolutely yes. To that. We just don’t know it yet. I submit to you the people in the Weimar Republic really didn’t know it when it was happening either. Mm-Hmm <affirmative> it takes, you know, a couple years to say what just hit us? I’m sure the people of Venezuela and the people of Zimbabwe would say the same thing. I just don’t know. It’s something that’s you don’t see until it’s until you look back in the rear view mirror on it. So, but all the signs are definitely there. The fact of what what’s happening and I’ve been following world events and kind of getting a little bit more insight into what I experienced in 1984, because look what happened. When we pulled out of Afghanistan. So, so terribly, I mean we left all, we left literally pallet loads of hundred dollar federal reserve notes on the tarmac. Okay. What is that about? I mean, billions of dollars sitting there, but then we also see the story behind the story. If you will, we see that Putin and Russia comes in to the OPAC nations, particularly Saudi Arabia and say, we will never let that happen to you brother. Look at, look, you know, we would not leave you hanging here. So look, we we’re going to be able to give you better defense than the U.S. They don’t care about their Muslim brother. We do okay. And in fact it was 10 days after the pullout of in Kabul that there was, and it was amazing that the mainstream media never covered this, but, but Russia and Putin signed a strategic defense contract with the oil producing nations, Saudi Arabia’s on the hit. And that was huge to me.

Lynette Zang (00:36:46):

Yeah

Dr. Ott (00:36:47):

Absolutely huge. Because…

Lynette Zang (00:36:49):

Especilly with the Petro dollar right?

Dr. Ott (00:36:51):

Exactly. So if you don’t have the U.S. Dollar, the federal reserve note, I should say, not the silver dollar anymore as the, the base Petro dollar currency, you are basically cutting the string to any of the reasons why the U.S. Dollar federal reserve note, as world’s reserve currency has kept inflation in check.

Lynette Zang (00:37:16):

Right.

Dr. Ott (00:37:16):

On a macro scale, when that happens the only other result…I said this in lectures back in 2008 and 2009, when that I haven’t video recorded lectures that I gave off this subject. I said the only thing keeping us from seeing inflationary cycles like Zimbabwe or the Weimar Republic is the world reserve currency status. Mm-Hmm <affirmative>, if that is cut, there’s so many nonsense dollars floating out in the world, debt. Will, this will make? I mean hyperinflation records.

Lynette Zang (00:37:52):

Yes. I would agree with that. And you know, additionally, there has been so much talk over what the last, maybe 4, 5, 6 months about the U.S. Dollar losing its world reserve currency status. Yes. I don’t think that’s an accident.

Dr. Ott (00:38:17):

Especially when you see the ruble now and Putin backing it with gold. Like the U.S. Dollars used to be.

Lynette Zang (00:38:27):

I don’t know that they’re, I don’t know that they’re actually backing it. They definitely have accumulated it to be in a position to take this offensive.

Dr. Ott (00:38:38):

Let me rephrase that. They’re backing it with the Petro market in, in gold and Saudi Arabia is following suit. They’re now taking their gold. And I guess they do produce quite a bit of gold in Saudi Arabia. And they’re now backing that also with gold. So it’s really the whole thing combined is causing the erosion of the federal reserve note like never before and again, I don’t think that is accidental.

Lynette Zang (00:39:05):

Yeah. I don’t either

Dr. Ott (00:39:07):

The powers that be knew that well, they could easily protect protected in Kabul Afghanistan and not give us a real black eye with the OPEC nations, but that’s what happened. Oh yeah. So, you know, it’s, it’s under the disguise of, of the Ukrainian conflict we just create the monster that is Putin creating all of this surge in the gas prices. That’s nonsense. I mean, total nonsense. I mean here in Utah, I know for a fact that almost a hundred percent of our oil comes from our own strategic resources that are pulled out of Eastern Utah. We have huge oil fields there. We have the Bakken oil fields in Dakotas. We really don’t have a lot of dependence on, on Saudi oil other than just price points okay.

Lynette Zang (00:40:02):

And you remember the oil crisis back in the seventies? Yes. As we were making this transition, I mean, everything that was accompanying the currency shift from a quasi gold standard to a debt standard, are you seeing, I mean, do you see what I see because I see the same things appearing again.

Dr. Ott (00:40:23):

Absolutely. Yes. A hundred percent so very much so. But it goes back to, again, what is? What is even why have sound money? The gold and the silver is always the protector against those inflationary cycles. Always. It’s not so much an ROI return on investment. You look at though, that’s been great in, in, in your market. I mean, you guys have concentrated as I see it on those those numismatic there’s nothing holds a candle to the value of those numismatics as an investment. Nothing does.

Lynette Zang (00:40:57):

Exactly. My opinion.

Dr. Ott (00:40:59):

Paul Boker was a hundred percent right. In that he was not eccentric <laugh> okay. So yeah. You know, what’s amazing. I’ll admit it. I was stupid. I was, I should have been more humble and should listen to Mr. Volcker. I wish I had, but I came back home gave a report to, to the head of my company that was working for Intermountain financial group. And they just basically poo-pooed like I did. Mr. Volcker’s response. Well, you know, first of all, gold and silver is not romantic to invest in it’s not flashy, you know high risk mutual funds, that type of thing. And subprime subprime mortgages packaging, that is always gonna be good. They said, so we did focus on that. And I was quick to, to jump on that bandwagon, cause I who wants to invest in coins?

Lynette Zang (00:42:06):

<Laugh> see. I’m very grateful for my uncle out because even when I was a stock broker, I always made sure, I always told my people and even helped, even though I didn’t make money at it, cause it didn’t really matter to have the collectible coins gold and silver. So I was always, I was always in there in that camp.

Dr. Ott (00:42:27):

So I’ve been following, you know, the, the numismatic guarantee corporation NGC and what they’ve been doing, putting things serial numbering, the ms70s and that type of thing we started, I think in 1986 if I’m not mistaken. And so you see the, the pre 1933 numismatic gold issues, nothing, nothing has held a candle to their ROI, right. I don’t care what it is. It’s the best investment period ever. And you know what really drives that Lynette is not you or me. It’s the elite of the world. It’s the Paul Volckers

Lynette Zang (00:43:07):

Exactly, you are. So right when I put up a graph of the rarities, I mean, it’s in the stratosphere and it never left the, the stratosphere and these are coins that, you know, maybe a million dollars or more 8 million, 16 million for one ounce of gold. There’s a reason.

Dr. Ott (00:43:27):

Exactly.

Lynette Zang (00:43:28):

There’s a good reason.

Dr. Ott (00:43:30):

You know, you can’t really, you it’s, it’s really hard to to put a Mona Lisa in your back office. <Laugh> okay.

Lynette Zang (00:43:38):

Exactly.

Dr. Ott (00:43:40):

But the value of these numismatics are so amazing and yes so it’s.

Lynette Zang (00:43:45):

We’re of the generation where we really had a value, there was a value to privacy that’s one of the other things about physical gold, physical silver in your possession is that privacy

Dr. Ott (00:44:00):

Very well said very well said Lynette. I was actually interviewing the, the Ottawa trucker convoy on my radio station. Which is international and scope. I had the organizers on, I was, not me alone, but I was a big part of getting their go fund me page started and getting the donations flowing into ’em and it just like unbelievable. All they wanted was to people to donate a hundred bucks and get a t-shirt and a hat for heaven’s sakes. Okay. Yeah. And, and it just went to suddenly they had $10 million flowing in. I mean, people just jumped in and GoFundMe stopped it. They flushed them. I mean, it’s like, why? So I’m interviewing the organizers of this in Ottawa and giving ’em the platform. And all they were saying, Lynette was like, you know, half of us are pro vaccinations, half of us aren’t. But the point is we just need to have control over our bodies. We have, don’t make it mandatory. Don’t force us to do this right? Mm-hmm <affirmative> and all they wanted was a meeting. They wanted just to be, have an airing of their grievances. They would’ve packed up and went right back. These are not the enemy. They’re good, hardworking men and women blue collar that keep the supply of goods going.My heavens. I mean, Mr. Trudeau, shame on you for not treating them with respect.

Lynette Zang (00:45:29):

Absolutely.

Dr. Ott (00:45:29):

And with honor.

Lynette Zang (00:45:30):

And I would say for anybody else, because then things happened and all of a sudden that was no longer in the news, but you know, people need to be aware of how easily, if everything you own is held inside the system.

Dr. Ott (00:45:47):

Very good point. I wanted to end with that because this is huge. The organizers didn’t know what it meant to have their bank accounts frozen. Okay. They never dreamt, they would be treated as an enemy combatant like an enemy nation. Right? Okay. These are citizens of Canada for heaven’s sakes. They’re the people next door. They’re the people that bring goods and services. I mean, goods, they’re the lifeblood of commerce. These are the men and women that do that.

Lynette Zang (00:46:17):

Yes.

Dr. Ott (00:46:18):

And the organizers of it had their bank accounts frozen. The story behind the story Lynette is they didn’t know what that meant. The one fellow that I, and I won’t, he asked me not to mention his name. So I respect that, but he was very pride prideful, as far as thinking he was doing good as a good citizen. Mm-Hmm <affirmative>, you know, a good patriotic, if you want to call it that. Canadian citizen. And he had about, just under half a million Canadian dollars in his bank account. And he had two trucks that he owed debt on okay. When his accounts were frozen immediately, they came in and were able to haul his truck away. And that set him off. First of all. And when Trudeau issued the emergency powers act, he didn’t understand, well, okay, I can’t buy or sell or trade anything, but if I’m a good boy, if I retreat back and say, I’m sorry, I’ll be back in the sound again? No, he never got his trucks back and his accounts were gone, zero. And when they froze, what that means, when they froze the accounts, you can’t go do anything anymore. His life is over.

Lynette Zang (00:47:41):

And it wasn’t just the bank accounts. It was any crypto accounts. It was the GoFund me accounts. It was insurance accounts, everything,

Dr. Ott (00:47:50):

Everything. He was weeping to me, a grown man, a tough guy who had the best of intentions, weeping, like a child says, I’m done. I have, I’m a non person anymore. Now that’s the type of power these central bankers can wield.

Lynette Zang (00:48:11):

Yep.

Dr. Ott (00:48:12):

And that’s a problem. I’m sorry. I don’t, if you have any breath in your lungs, that’s a problem.

Lynette Zang (00:48:20):

I definitely agree. And I think everybody needs to be aware of what could happen. And it’s critically important. I mean, critically important that you are, that we are all as independent and self-sufficient, and that we come together in community because that is the only way that we can take the central banks, but this and physical silver too, I just don’t happen to have any, this is the biggest, this is like central bankers kryptonite.

Dr. Ott (00:48:55):

<Laugh> That’s the way to go way to go superwoman. You’re right. That’s exactly right. And let me tell you a little bit parenthetical of that, cause I’m trying to help my brothers and sisters up in Canada and, and then now Australia, I mean, what’s happening in Australia.

Lynette Zang (00:49:12):

Yes. It’s happening all over the world. Oh my God.

Dr. Ott (00:49:15):

It’s insane. Insane, insane, insane. And if you don’t think it can happen in America, you’re dead wrong. It is going to happen. Yes. That’s the whole reason.

Lynette Zang (00:49:24):

It’s already happening, but we’re not hearing as much about it yet.

Dr. Ott (00:49:30):

Yes. So I’m again, I don’t know when I don’t have a specific date in mind, but if you look at the trends, I mean the, the federal reserve and the bank of international settlements have no choice. The U.S. Dollar is, I mean, come on, we have what, 36 trillion, more than the whole asset base of America? It’s, the debt is out of control. It dwarfs what happened in the Weimar Republic. It just dwarfs it. So we have one, they have one choice, one gold ring to grasp, and that is the digital currency to come in and make the dollar bill obsolete. It’s going to happen. I don’t know when and may be. And maybe this December? Depends on how bad, you know, smoking bill is there, you know as to this popularity level, but make no, they only way they can save anything is to bring in the controls of the central bank digital currency, the CBDC. When that happens, then they have all the control, you have nothing, absolutely nothing.

Lynette Zang (00:50:37):

But you know, what’s happening right now that I find, I mean, I think this is so killer interesting. I mean, if you can just step back and watch, and that is the BRICS nations creating a basket currencies to rival the predominantly American based SDR, Special Drawing Rights over at the IMF.

Dr. Ott (00:51:04):

Mm-Hmm

Lynette Zang (00:51:04):

<Affirmative>, that is so fascinating to me because we’ve got battles going on all over the place. But it’ll be interesting to see how this evolves, because I’ve really felt and talked about since 2009, the SDR as a basket of currencies and expandable basket of currencies to take over as the world reserve currency from the U.S. Dollar and with their substitution fund, where if you own, U.S. Dollar denominated instruments, which they like to call assets, but they’re not really assets in my mind, they can deposit it into this substitution account. And then they’re converted into SDR denominated instruments, or assets, whatever you like. But I wish I could say that I really thought it was a them or us, but I really don’t. I really don’t think that I really think that, that everything is consolidated down to just such a small group that it’s all smoke and mirrors just to nudge us in the direction that they want us to go in. And that is all digital.

Dr. Ott (00:52:28):

So we go back to, what is, how do we, how do we combat this? Well, first of all, I just love what you guys are doing. The ITC group is educating people.

Lynette Zang (00:52:37):

Thank you.

Dr. Ott (00:52:38):

Whether you understand it or not folks, you know, the prophet Hosea said it best in the Bible. “My people perish for lack of knowledge” and this you need to understand, how are you ever going to stop them or protect yourself from them happening?

Lynette Zang (00:52:51):

Exactly.

Dr. Ott (00:52:52):

So we have to unite as grassroots, we have to unite as you know, and I give this example out what happened in 1933 with the FDR’s executive order making it what five ounces of gold is illegal. Why was that an executive order and not an actual, shall we say, congressionally passed law?

Dr. Ott (00:53:21):

Okay. There were specific penalties in the executive order, felony penalties and jail time okay. Why did? It was only like, I did the research on this Lynette. There was like six people prosecuted. They were very high profile cases. People that refused to do what they were told. And, and they were given, you know, $10,000 fines and took all, you know, they were set jail times. But what is untold is the people in the Midwest, especially the farmers, the United. And they said there was co-ops of 10,000, 20,000 people. They got together. And they, they just basically gave the two fingers to FDR said, this is our money, our wealth come and get it, bring the tanks, bring the bullets, cause we’re not gonna give up our gold. And you know what, they looked the other way. And they went around them. That’s the power of grassroots binding together. Yeah. And saying, no, we, the people have the power. You do not. Mr. President, no matter what executive order you think you have, no matter how many central bakers you have in your cabinet or in your closet hiding away. No, it is us and our wealth. And I think that’s what needs to happen here in a big, big way. Educated people saying this is us. Don’t play around with us anymore. Right. Don’t tread on us. <Laugh> right. Okay. We need to stand up and be counted. And, and I, I’m not afraid to rock the boat. I’m not, I’m not afraid to anymore. It’s, I love this country too much. I love the people in it. I just see them being used and abused and just sadness.

Lynette Zang (00:55:11):

My favorite question is how many times can you be lied to when you do not know the truth?

Dr. Ott (00:55:19):

<Laugh> Great quote. Was that a Zangism?

Lynette Zang (00:55:25):

You know, I don’t think so. I don’t think I can claim that I have used it for so many years. I don’t even remember.

Dr. Ott (00:55:33):

<Laugh> I call it a Zangism. That’s Lynette Zangism. Every once in a while I come up with a Truism myself okay? <Laugh> But that’s a good one. I mean, golly, you’ve got to get an empirical handle on the truth as it is, as it is now. And as it will be in the future.

Lynette Zang (00:55:53):

Exactly.

Dr. Ott (00:55:54):

And that’s where the power of gold and silver is.

Lynette Zang (00:55:57):

Exactly because we vote with our purses, right? Yes. If you buy into what they’re selling, that’s exactly what they want. So if you’re, if you’re comfortable thinking about this as having value or certainly in the digital world, oh, look at all those numbers, we get blinded by those numbers. But this is actually out of the system. This is a central bank kryptonite and we all need to hold it to protect ourselves and come together with community because we all have, you know, different skill sets and different experiences. And that’s what makes a rich community and how we can weather that. So, yeah, I think.

Dr. Ott (00:56:39):

My father, Lynette, was wounded in action in Korea was spent, he spent almost a full year in a hospital ship in Tokyo. Wow. When he was released with his discharge and medical papers, he had I think it was 1100, $1,200 in a discharge check. So he comes back to Southern Utah. And this is in his little diary he kept and there’s pictures of his time. He lost his left arm. Pretty much the use of it with his war wounds. And he went in, he thought, well, I’m just gonna, I wanna just go to the bank and cash this GI $1,200 check. And he took it all in silver dollars morgan peace dollars.

Lynette Zang (00:57:28):

Oh wow.

Dr. Ott (00:57:29):

So he says, I felt I had these, these big bags. I walked out back, but he says, I just wanted to have it. cause you know, part of his post traumatic stress disorder, he didn’t want paper either, so he had these, but here’s the bottom line. He bought himself five nice city suits. Right. And then he went and paid his widowed mother. My grandmother’s bills that piled up at the mercantile. They knew they let her carry credit, but he paid it all off with silver dollars, stacked them up on the counter. After all is said and done, he has like $730 something silver Morgans left. So guess what my father did to go find my mother? This be a hot guy with a brand new suit. He bought a four door Studebaker brand new up tri-state motors in Cedar City, Utah. How much? Paid cash $700 and something out the door. <Laugh> okay. And there was receipts in his papers after he passed, I was going over his and I just saw that I just got teary eyed because yeah, $700. Let’s say in silver dollars, peace dollars today, the numismatic value, looking when I looked at this over it was they’re about $40 a piece?

Lynette Zang (00:58:55):

Yeah that sounds about right.

Dr. Ott (00:58:57):

700 times 40, $28,000. That’s just a silver count in it. If you look at some of ’em as the high 60 or $70 based on their quality.

Lynette Zang (00:59:07):

Right. And on the year and all of that. Yeah.

Dr. Ott (00:59:09):

So say $30,000 of silver at the time, if he had still the same bags of junk silver today, whatever you wanna call because it’s not junk at all. It’s really good stuff. He would be anywhere, if you could buy at least one studebaker four door today. Maybe two, depending on the quality of the piece dollars he had. I mean, that’s the story.

Lynette Zang (00:59:35):

It is the story. It holds

Dr. Ott (00:59:37):

of sound money

Lynette Zang (00:59:38):

Purchasing power value. So that no matter when you go to use it, you are, because think about it. That was his labor. That was his payment for losing his arm for going to war for being in the hospital for a year. And so you wanna think that what I went through has value forever, but in this system, it doesn’t by design, it loses value this system. It does because it’s real and brought a space of buyer because it’s used everywhere in the economy, gold and physical gold and physical silver as well.

New Speaker (01:00:21):

Well, this has been phenomenal. Would you like to do a little bit of self-promotion in here? So people, we’ll have all the links to the sites and some of your YouTube videos, etcetera. But is there any parting message that you would like to leave our viewers with?

Dr. Ott (01:00:39):

Oh, absolutely. And thanks so much for the opportunity to share this is a…

Lynette Zang (01:00:43):

I appreciate it. It’s part of developing the community.

Dr. Ott (01:00:46):

Thank you so much because it’s one of my real strong suits. My mind, part of this this whole thing that got me, the scholarship to New York in the first place, was this top two percentile. My brain is wired a little bit differently. I see things more in the future. And I get very, very quickly frustrated when people can’t see what I can see.

Lynette Zang (01:01:14):

You have to have patience though.

New Speaker (01:01:15):

Like it seems so clear.

Lynette Zang (01:01:17):

I know, but we really have to have patience because you have to lead them right? And I lead by example, you lead by example, but we can’t get frustrated. You know, I’ve been doing this for a long time.

Dr. Ott (01:01:32):

And my sweetheart, my bride of 41 years when this all came and they did analysis and they did the personal personality profile. That’s him. He gets so mad when people can’t see what he sees. So I think it’s so elementary and so simple. I know why can’t people see this? So it’s, I have to, I maybe, you know, I’m 62. I was born in 59. So I’m getting point where I’m saying I gotta be more patient, but people like you Lynette that see it. I just, I’m so happy. It gives me hope that they can do this together.

Lynette Zang (01:02:15):

Yeah. I mean, that’s what gives me hope too. And I even have little ones that, you know, I just did a video with my eight year old grandson. Who’s actually about to turn nine on what is money. And then I was recently at the George Gammon event and there was, I think she was about seven or eight years old and had them following me and she came up on stage and we played central banker. I mean, that’s what gives me hope though, is when I see people that do understand it because more and more people are understanding, especially with the high inflation. That makes them question. That makes them question this.

Dr. Ott (01:02:58):

Great point.

Lynette Zang (01:02:59):

Right? because price stability that the central banks keep talking about, but never really defining for you is not that if this cup of coffee cost you five bucks last year, it’s gonna cost you five bucks next year. The price stability is that if you don’t perceive the prices as going up, they can go up. They can go up as high as they want, but if it doesn’t bother you enough for you to ask for more money, that’s the price stability. You, the worker not asking for what’s truly due and accepting less and less and less until.

Dr. Ott (01:03:38):

Boom. I would just in closing, I’d just like to have our listeners just do your own homework and read the 1792 Coinage Act. The reason why our founding fathers said it was a felony and guilty of death for messing with our coinage was because the Thomas Jeffersons of the world knew exactly. You can’t hold your Republic without sound money.

Lynette Zang (01:04:05):

Exactly.

Dr. Ott (01:04:07):

You can’t be free without it.

Dr. Ott (01:04:12):

<Laugh>. I get so frustrated when people say, well, I support the constitution. I had this discussion with ou? county sheriff. Do you really sheriff support the constitution? Yes, I do. I honor and sustain the constitution. I said, then what’s in your wallet and I’m not talking about capital one, right? and he says what are you talking about? I said, those bills you have in your wallet are not constitutional money. Yeah. Article one, section eight, article one, section 10. What part of that don’t you get Mr. Sheriff? I said, oh, I get it. You haven’t even read it. Well, maybe you should go read it. Listen, there is nothing in there about federal reserve notes, paper, money being anything, anything valid it’s unconstitutional. It’s only gold and silver coin in payment of debt. End of story. And there’s whenever somebody works for somebody else, there’s a sacred debt there. Okay. You can’t discharge that debt. Article one, section 10 of the constitution, except with gold and silver. You give them a federal reserve note to promise to pay a widget wire transfer. They’re still in debt to you.

Lynette Zang (01:05:32):

Right.

Dr. Ott (01:05:34):

Oh my goodness. That’s what we can do in a nother two hour segment on that. <Laugh>

Lynette Zang (01:05:39):

We can and we’ll have you back and we’ll have another segment on it, cause this was very interesting and I really appreciate it so much for your coming and to all of you out there. I hope you got as much out of this conversation as I did and until next we meet, please be safe out there and remember gold, physical silver in your possession is your absolute best protection for what we’re going through right now and what lies in our very near future. So until next we meet, please be safe out there. Bye-bye.

Dr. Ott (01:06:19):

Thanks Lynette.

Lynette Zang (01:06:20):

Thank you.

SOURCES:

Website: www.meminerals.com

Wellness Secrets For Life – An Owners Manual For the Human Body by Dr. Ott: https://www.meminerals.com/catalog/wellness-secrets-for-life-fourth-edition/

True Ott PhD: Money Mechanics 1 of 4: https://www.youtube.com/watch?v=5IZ-x-nv5BI

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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