Jason Hartman looks at the state of the mortgage industry and the incredible rates as low as 1.99% with United Wholesale Mortgage (UWM). He discusses how it is even possible that rates are so low. The conversation moves to COVID-19 and global urbanization. Wood also shares his thoughts on the Trilateral Commission, government-backed cryptocurrency, and an August forecast on the economy.
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multimillionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it on now. here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 0:54
Welcome to Episode 1520 615 to six today We will do the second half from yesterday talking about technocracy but something very important. And that is mortgage interest rates. You know, I talked to you recently about how the rent to value ratio has been temporarily repealed. And this really illustrates it because all of those fools, all of those people misleading us out there in the media, talking about the impending doom and the housing crash. And I get it, the economy is not in good shape in many parts of it. But again, very lumpy, very uneven. Well, let’s just look at housing, the one part of the economy outside of food, and I guess clothing, but I’m sure everybody’s got more than enough clothing has gotten so cheap. It’s absolutely crazy. housing that has universal needs. Remember, people need food, clothing and shelter? Well, let’s compare some mortgage rates for a moment. Why don’t we do that? Why don’t we do that because this will be very enlightening. Before we get to our guests today. So united wholesale mortgage announced today that it was rolling out a loan program that offers borrowers mortgage rates as low as 1.99%. That’s 1.99%. Now, on July 31, the same company announced that they would do 1.875% on a 15 year mortgage. So the 1.99 is on a 30 year mortgage. This will be in very limited supply I’m sure this money will be gobbled up like there’s no tomorrow. Remember, money is just like any popular product when it’s super cheap. And it’s a bargain, it’s going to be a bit of a hassle to get it, you’re gonna have to wait in line, you’re gonna have to put up with bad service. That’s the way it goes. Now mind you, these are owner occupied mortgage rates, these are not investor interest rates, investors will be dinged a little bit and have to pay a little more. But again, it’s a sign that the overall mortgage market that mortgage money even if it is non owner occupied, in other words, investor financing, it’s still incredibly cheap, because these two track each other. Unfortunately, there’s not really any index, at least not that I’m aware of that shows investor mortgage rates, non owner occupied one to four unit considered residential mortgage rates over any long period of time. So you just have to assume that, you know, as an investor, whatever the owner occupied mortgage rate is, you’re gonna pay a little more How’s that for inexact science? A little more, a little more, you pay a little more. Okay, pay a little more. So, here is the comparison I want you to make. And by the way, this mortgage is available to people get this, maybe we are revisiting the crazy loans are to liberal times that we had back in the early 2000s. Because you only I thought the requirements for this ultra cheap money would be so difficult that only a few small number of very premium borrowers would be eligible, but that’s not the case. Because get this you only have to have a FICO score of at least the article says at least 640 That’s ridiculous. 640 isn’t even a very good FIFO score at all. Remember the ideal FICO score is 720. And of course it goes higher. You could have a seven 40 plus FICO score, you could be into the eight hundreds. But just remember what I’ve taught you over the years. If your FICO score is too high, it’s just like having a bunch of money stuck under your mattress, it means that you’re not using your credit. So when people come to me and brag about, oh, their Piko score is 800. I say, Oh, you dummy, you need to be using more of your credit. Apparently, you like sticking your FICO score under the mattress where it doesn’t do anything for you, or it doesn’t earn you any return on your investment. No, you don’t want your FICO score to be too high. Now, in reality, though, what happens when you start buying a bunch of properties? Your credit does take a little bit of a hit and it goes down at first, but then later after you’ve made those mortgage payments consistently, six months, 12 months, a few years, you know I don’t have the exact information here. I’m not mean this stuff is super complex, okay, there’s, there are people that spend their whole careers engaged in optimizing FICO scores. And guess what, I’m not one of them. But just in principle, that’s the way it works. So your credit score really will go nice and high. I don’t know if it’ll be higher than if you never use your credit. But it’ll go up for sure I it’ll take an initial hit. And then after repayment on time for a period of time, you’re gonna see that FICO score rise very nicely, very nicely. So get this. Here’s the comparison. And this is really important, folks. Really important thing. Listen up. Are you listening? This is really important. You always see these people in the media, you always hear these idiots talk about the housing market. And they say, Well, you know, prices now are as high as or higher than or whatever they’re gonna say are all Almost as high as because, of course, it depends what markets they’re talking about this that and the other thing you, you know, peel the onion 1000 different ways fine. But in principle, if you just look at the nationwide median price home, right on a very simplistic view of things, they’re gonna say, well, housing prices now are really high. And when they were really high before we went into a bubble and the market crash, okay, fine and dandy, good for you. You can look at a price chart, but you never look at what the cost of houses you only look at the price of the house. So this will be similar to if, for example, if in the past just that it didn’t happen this way, but let’s just make a comparison here. Say for example, in the old days when housing crashed before, you could only get a 10 year mortgage. Okay? Just humor me for a moment as an example, that the mortgage was amortized, meaning you pay principal and interest and you import the loan you kill it. When you make the last payment, latin word a morte means to kill, okay to kill the mortgage, you amortize it away, you kill it slowly over 10 years instead of 30 years, right? So say for example, back then you could only get a 10 year loan, and now you can get a 30 year loan. Well, what does that do? It makes your cost every month much lower. So let’s view that as a concept for a moment and put that on the shelf. Now that we’ve got it in our head. Okay, in 2006, the mortgage rate averaged 6.41% in 2006. So if you financed a $100,000 mortgage Now remember, I’m talking here, not about the price of The property I’m talking about the amount of the loan, the mortgage amount, in 2006, you paid 6.41%. And you got a $100,000. mortgage, your payment, amortizing it over 30 years. Everything else, so I’m going to keep it totally consistent, would have been $626 and 16 cents per month. Okay. I’m going to leave the sense out, because a lot of people have no sense. Oh, I’m so funny. These people in the media have no sense. They make these completely inaccurate, misleading comparisons that mislead you to miss opportunities or mislead you to do things you shouldn’t do or avoid doing things that you shouldn’t be doing. Right? It’s totally misleading. Don’t be misled. Okay. I’m done with that. I got my trusty HP 12 calculator in front of me, you can go and you know, cheat, just type in amortization calculator and search it on the web as you bring it or DuckDuckGo it, because you wouldn’t dare Google it. So type into amortization calculator and you do the math yourself. Because when you do it yourself and you really see it, you know, you own it, you believe it. But here’s me on my good old fashioned HP 12 seat calculator. For those of you who don’t know what that is, US people, us old timers and the old days, this was the standard calculator that everybody use, and you can still buy them today because so many people, the dying breed like myself, we will eventually all die off. Hopefully it won’t be soon. But we still like this good old calculator. You know, you just get used to something and you keep using it. It’s a great calculator. It’s a truly incredible thing. In fact, the ads in the magazine, when there used to be these things called magazines. There would be an Add you’d see in like the realtor magazine, and would have a picture of the HP 12 c calculator that was about $110. Now adjusted for inflation today that’s about, I don’t know 300 and something dollars probably, I bought my first HP 12 see when I was 18 years old, and I paid like $110 hundred and $16 or something like that. It’s the calculator, the ad would say the calculator that has no equal, because it’s sort of backwards. There’s no equal sign on it. Every other calculator has an equal sign except this one no equal anyway. So I type in $100,000 and then I go PV for present value because that’s the present value of the mortgage, not the future value. And then I type in 6.41 blue key I meaning interest rate, and then I type in three zero blue key and meaning number of payments 30 years, and I get $626 I’m gonna drop the cents. Okay, now I do the same thing. Today’s interest rate at this ridiculously low absurd negative interest rate 1.99%. And the same hundred thousand dollar mortgage amount is $369 per month. So you would pay in 2006, at what many consider to be the peak of the market, you would pay $626 per month, you can borrow the same amount of money today for $369. So you you save almost $300. Now, it’s fair to look at this a different way. Let’s look at it another way. So the question is, how much has our buying power increase? In other words, apples to apples comparison? How much more could we spend on a house today to have the exact same payment but wait a second, even if we make progress calculation, which we’re about to, it won’t give us the complete picture, will it? Why not? You regular listeners that have been following my work for the past 1617 years? You know the answer to that question, don’t you? The answer to the question is that I haven’t adjusted for inflation. There’s no inflation adjustment here. These are just nominal dollars. Nominal of course means in name only see in 2006 $626 was called the same thing. It’s called today. So in name only, that’s all I’m comparing today. I didn’t adjust this for inflation. And you know, what, if I have a few minutes, might take more than a few minutes to do it. Right. I will do that math for you and I’ll bring it to you tomorrow. How’s that sound? Coco. Just remember Gotta adjust these numbers for inflation. But Coco Guess what? My dog is looking at me so weird right now. She thinks I’m loony. That’s the dog, Coco. All right. I’m not just going to adjust them for. You should see this right now, folks, if only we were on video and you could see the dog looking at me right now. It’s pretty funny. Cocoa. We’re not only going to adjust for inflation with the official statistics, we’re going to go and log into my private membership of shadow stats.com. And we’re going to adjust for the formerly official inflation numbers. Folks, I have something to tell you right now. The dog is walking upstairs. She’s walking away. She my dog thinks I’m a Looney tune. Okay, maybe I am. But I want to know what our buying power is. Everything else being equal. So guess what? Instead of looking at a 100 thousand dollar mortgage? I went ahead, and I just guessed roughly, I said what if I got a mortgage for $70,000 more? Now remember, this is not the property price, it’s the loan amount. So say I decided to spend $70,000 more for a property today. Then in 2006 How would that look? Well, all things being equal 2006 nothing here is adjusted for inflation. Okay, but that payment at 6.41% interest which was the rate in 2006 would be $1,064. But today, at 1.99% if you can get one of these fantastic loans, I can spend $70,000 more, in other words 70% more seven zero percent more. Okay, the $100,000 mortgage is now $170,000. And my payment would be pretty much the same. To be specific, I would pay for $70,000 in additional price or mortgage loan amount, I would pay $627 and 50 cents versus getting $70,000 less, 14 years ago would be $626 and 16 cents. So yeah, it’s a buck 30 give or take right difference $1 and 30 cents a month difference. So I get an additional $70,000 or 70%. Look, folks, you can just add a zero if you want. If you live in the Socialist Republic of Los Angeles or San Francisco. Just make it a million dollars. mortgage and a $1.7 million mortgage and it’s the same thing. You just add a zero, it’s the same proportion. Okay? I can get $70,000 additional buying power today for the same nominal dollar price. But wait, there’s more, it gets better. Because when we adjust for inflation, we’re going to do some more math, even though the dog walked away, and she didn’t want to hear me talking about this. I tell you, I’m going to do a little more analysis for you and get back to you on this. So stay tuned. Stay tuned for more, because this is really really exciting, folks. And this is how to look at the reality of the situation. The reality of the situation is here for you. So very interesting. Again, 70,000 bucks extra. Thank you, Jerome Powell for that extra $70,000. See, Jerome Powell did didn’t have to send you $70,000. All he had to do is lower the interest rate. And you got effectively $70,000. Now, you want to know why wealth inequality is growing? Because guess what, some people will never get that bail out. Most of you listening will get that bail out, you know, we’ll take advantage of it. But guess what? The poor, they’re not buying a house, they’re not getting a mortgage, they’re not getting an additional $70,000. You see how this is unfair? It is. But what can we do about it? I don’t know. Probably nothing. But the best way to help the poor as the saying goes, is not to be one of them. Okay, so, so go make yourself some money with this additional 70,000 bucks. Jerome Powell uncle Jerome just gave you and take advantage of it. And in fact, take advantage of it 10 times and he just gave you 700 thousand dollars, take advantage of it 20 times and he gave you $1.4 million. Take advantage of it. I think you can do the math. I don’t need to multiply for you. Do I? Okay. Okay, one more time. Take advantage of it three times. And he gave you $2.1 million. Uncle Jerome Powell, your rich uncle, what a guy. What a guy. And if we adjust for inflation, it’s even better than that. So more to come on that one. Okay, let’s get to our guests. And let’s go to part two and talk about the technocracy if you need help taking advantage of this Jason Hartman calm or one 800 Hartman, our investment counselors are ready to help you take advantage of this free money from uncle Jerome pal. Here’s our guest. Yeah,
Patrick Wood, 19:51
so if you control the resources, it doesn’t matter what the monetary system is, you. You have the wealth, you have the control over, you know, the humanity within your reach, because you can decide what happens with those resources. And so this in my opinion, this has been a major theme, at least since the early 1970s. That that sustainable development could be used as a platform by the global lead to grab resources on an epic scale around the planet. And for the resources that they could not grab directly. The United Nations has practice for a long time now policy of taking resources offline and simply declaring them to be you know, vacant of human activity just stay away from it like the opposite like the you know, the heritage zones and stuff, the mat, you know, massive plots of land that basically just been taken out of human protection.
Jason Hartman 20:50
Well, I’ll tell you something. So when you say resources, you’re pretty much talking about land, right? Absolutely. Okay. Okay. So the reason sources are land
Patrick Wood, 21:02
with things that come from, by extension things that come from the land. Okay guy, oh, soil, timber, the food, etc. Sure, years ago when I had the brilliant Thomas soul on my show I in that during that interview with him, I coined a new term. And I called it environmental racism. And basically, when I lived in Orange County, California, Irvine, Newport Beach, very nice areas, I would notice they dedicate all this land as Oh, permanent open space. And then the people that went and bought homes there, you know, all my nice white neighbors and I’m white to so yeah. I mean, it’s just kind of I’m noticing it, I’m talking about it at least. But they would basically start circulating all sorts of petitions and getting activist about they got to dedicate more open space and more for the environment. And really, that was just to keep their property prices up or to drive them up and to keep people out to keep others out to make it inaccessible to other people of lower incomes. And so that’s what’s going on around the world. And that’s agenda 21 is like that. But the interesting thing about it is that if anybody considers COVID-19 to be, you know, some people are way out there, and they think it’s a total conspiracy. I don’t think that, but it is an opportunity. If you’re in power and you want more power, there are certainly a lot of power grabs going on. But this is doing the opposite of that. This is making people just spit in the face of agenda 21 ideas where people are going to the country and living in rural areas or car based suburban areas. I mean, nobody’s going to be interested in high rise living in mass transit. If you’ve got a deadly virus and a bunch of race riots going on in your city, right who wants to live in a city anymore. I mean, You know that that seems like it’s a, an opposite current, right? It does and and I have to say the the flood of people leaving right now just panicked, almost leaving cities completely flies in the face of the global elites predictions that there’s going to be 75% or 80% of all the people in the world living in a city someday. And that’s why we need to make smart cities and, you know, have all the monitoring stuff and, and everything connected with the internet of things to you know, control everybody. They’ve had all these great, lofty plans, and they’re running a little bit off the rails right now, I have to say and you know, what they’re thinking at this point is anybody’s guess. But the rural communities I have to throw this in the rural communities, by definition, have already been included into the major metro areas. As far as regulatory, you know, action activity is concerned. And this is something that most people rural communities do not recognize at this point agenda 21 and sustainable development, the 2030 agenda, those doctrines as rules are being set in place within a major city. They also were including in their master plan all of the surrounding rural communities as well. And so the regulations from the city extend out into the rural areas. I studied this in California quite a bit. And you look at one Bay, one plan for the Bay Area. And you’ll see that it extends up into the foothills of Northern California, which is far far away from the cities all the way through all the agricultural land.
Jason Hartman 24:36
And those people the irony of it is, those people in the foothills and all these outlying areas have no voting power. And they probably don’t have any money to go and lobby. So they’ll just get overrun by the city slickers in terms of the regulation. Right, exactly.
Patrick Wood, 24:51
And that’s exactly what happened. I grew up in Northern California, so I’m sensitive to it and I know ranchers and farmers up there, and that’s exactly the case. They, you know, they say, Well, what can we do? You know, I mean, you know, we don’t like it and, and we complain about it, but we don’t have the voting power. When I have the voting bloc, we don’t have the influence or the, or the megaphone or microphone to speak out against it. And so we’re just getting sucked into it like a vortex. And we have no choice. But what people are going to find as they flee the cities to live in the suburbs or out in the rural areas, smaller cities, for instance, that maybe only have five or 10,000 people right now. They will find when they get there that many of the things that they fled will follow them. That’s all that’s the only thing I would say. Maybe not immediately, but those same types of manipulative regulations will follow them and, and I’m afraid already that some of these radical groups like an Tifa and, and BLM have already said well, they’re coming to the suburbs or coming to the rural communities. I don’t know what that means yet, but
Jason Hartman 26:03
they’ve been in Coeur d’Alene, Idaho, and they are doing that, but it’s hard for them. And so we’ll see that but all of these manipulative regulations and stuff, it’s, it’s hard for them to be meaningful if you live in the suburbs or in rural areas, you know, so they might have regulations and restrictions, but it’s gonna be hard for them to enforce them or make it meaningful. I think the thing that the powers that be can do if they want to gain more power, and really hurt people, is they really need to control and they already do control it in terms of the content of it, but they need to control like the speed of the internet and the access to information. And if they if they can make it so that it’s hard to have good internet in rural areas, then that will push people back into their crowded cities where agenda 21 wants them that listen all the time. The green New Deal doesn’t work without mass transit. Okay, you know, it doesn’t work in suburbia very well, it works in cities better. You know, it works in high rises, it works in mass transit areas. It doesn’t work in car based culture. So that’s the opposite of what they want.
Patrick Wood, 27:17
Right? Well, it is. And you know, it’s interesting, interesting up in the, in the Portland area A few months ago, maybe three months ago or so there was 100 miles of street that were shut down for the sake of COVID. And I thought to myself at the time, so well, that fits right in with what they’ve always wanted to do is get all the cars off the streets, and, you know, force people into mass transit and riding their bicycles and stuff like that. And I don’t know if they ever lifted that ban on those particular streets, but it was kind of a humorous way to, well, wasn’t funny to them. People living are aghast but it was kind of funny to me that they were trying To find COVID by shutting down the streets, and then they showed pictures of people riding their bicycles on these on these empty streets, and you know, they’re riding along and of course they you know, they’re riding in pairs and groups and stuff like that, which is just seems to be athletic thing policies that would that would fight the disease in the first place.
Jason Hartman 28:21
Yeah, it’s a crazy time. What is the Trilateral Commission has to do with all of this and what is the Trilateral Commission? You know, there’s this thing about presidents that have been members of the trilateral have been trilateral list, I guess you should say or not. And like Reagan wasn’t in he had an assassination attempt. And it seems to immunize you from assassination attempts or something. Is that true? What is that all about? Well,
Patrick Wood, 28:49
Trilateral Commission was founded by David Rockefeller and so big new Brzezinski kind of the beauty and the beast sort of accommodation back in 1973. And they drew members from from Europe, Japan and North America, very elite members of the global economic community, the business community, the political community, legal community, the press community. And their goal back then was to create a new international economic order. And we debated Tony Sutton and I debated members of the Trilateral Commission back in those days before they caught on to, you know, our critical stance on it. And they said consistently that they were that they were after creating a new economic system in the world, that they were not interested in politics, and even though they had politicians in their members, membership, but what I discovered is that, in spite of all the members of the Trilateral Commission, who got into the political system, especially with Jimmy Carter, because Carter was a member, Mondale, his vice president was a member and most all of his cabinet were members of the Trilateral Commission. They weren’t after capturing the or, you know, just running the political system, what they were after, was getting their hands on the economic machinery that that was represented by that political system. They wanted to get into the control situation over the global economic system in order to transform it. So for instance, over succeeding years, eight out of 10 of the World Bank presidents that the President appointed, were members of the Trilateral Commission. You had nine out of 12 member of people who were appointed to the US Trade Representative. Nine out of 12 were members of the Trilateral Commission. The giant trade treaties, like like NAFTA and cafta, were written by members of the Trilateral Commission. So this was about economics from day one. It wasn’t about a political coup, like a lot of people thought, and they have come and gone members of the Commission have come and gone from government over the years. And but I believe personally, their goal is still the same. It’s To transform the economic system, and if you keep saying
Jason Hartman 31:04
transform, but what does that mean? I mean, transform it to resource based. And, and it sounds like pretty much consistently globalism. Would you agree with that? Right, absolutely. globalism, which means the nation’s they don’t have the power. It’s kind of like the states rights debate between the states and the federal government who has the power, right. Same idea on an international scale. But you know, the thing COVID will do for the power hungry folks that we’re discussing, it will push us toward a digital cryptocurrency and I don’t mean Bitcoin. I mean, a government backed central bank backed cryptocurrency, China is doing it and they have every excuse. I’ve seen several articles about dirty money, meaning that you know, touching coins and dollar and bills, that’s dangerous that can translate With the disease they say, and, you know, they may well be right. And so it’s, it’s an opportunity to say, hey, look, you know, we’ve got to make this digital, and then we will lose our spending privacy completely. And another another thing, the last bastion, maybe of privacy, if it’s left is, you know, the ability to use cash and buy something without everybody knowing what we did, it will be lost. So that’s, I guess, if you’re on a check chessboard, I would call that check. And then, if there is a global digital fiat money, if it’s one currency, a world currency, that’s checkmate. It’s just game over for the citizens of the world right there, because there will be zero privacy, and they could do what China’s doing with this social scoring. And literally just take your money away with a click of a mouse. Yes, and you could become destitute and starve and you know, your resources could He just completely cut off because you said something bad about the internet or wrote something bad on social media, you know, or not about the internet about the government.
Patrick Wood, 33:10
Right? This is Yeah, this is one of the great risks I believe that we face right now. And I’ve one of my favorite topics over the years has been the Bank for International Settlements. And I studied them extensively in years past and nothing much has changed there. But you know, they are the the central bank to central banks around the world system, and they’re very powerful. They have tons of influence on what happens in the world economically. And just recently, it’s been revealed that the big is is creating a series of innovation hubs, they call them that they’re putting around in various countries, including the United States and Canada and countries in Europe to, as they say, plot the the future of money. And these innovation hubs are lathered with money from the VIPs. And their goal is to hire the brightest and the best You know, computer programmers and monetary, whatever cryptocurrency type people that are, you know, big on blockchain, that sort of thing to come up with a digital payment system using AI and cybersecurity and all that kind of stuff that would be suitable for the entire planet. Now, individual central banks have been working on stuff for a lot for some time that our Fed has the the Fed coin idea, the bank for the Bank of England has their own little SWAT team of researchers who are working on digital currencies and so on down the line, China’s been working on it. But now the big is the elephant in the living room has weighed in, that they’re putting, they’re putting a network of so called innovation hubs together around the world to create an integrated global monetary digital system. And that’s on the books now. We can look at that we can study it, they’ve got papers out on it, and it’s like You know, I look at it go, oh boy, here we go here, you know, they’re weighing in on it. And you can just see where this has gone.
Jason Hartman 35:07
If they control where people can build how they can build, you know, a home for themselves, if they control every body of water, a little pond on your property, if they control your money, they control the energy you have access to whether you’re allowed to catch rainwater or not. It consolidate all the tech companies so that they can control speech, which is what they’re doing as a proxy for the government, big tech companies. That’s exactly what they’re doing that, you know, the government can’t control your speech in the US, right. But Twitter and Google sure can, and so can Facebook. And so these big tech companies just become a proxy for government. You don’t have first amendment rights against Twitter. Okay, no, you only have that against the government. So these are pretty crazy times. Last thing, I mean, we’ve got to wrap it up with this. Spend an interesting talk, Patrick, where’s the economy going? And I mean, I know what you’re gonna say. It’s a loaded question. But, you know, dice it up for us a little bit. It’s always more complicated than just a question like that. It really
Patrick Wood, 36:15
is. And the simple term would be, I think, by the beginning of next year, there will be every attempt to kind of Prop things up between now and the election. But starting in November, December, January, sometime within three or four month period, after that, I think we’re, I think the Great Depression, too, will be recognized around the world. And it will force governments to probably react again with new stimulus, and how are we going to get out of this? And, you know, I mean, who knows? I
Jason Hartman 36:48
mean, no government wants that. I mean, the all of the powers that be saved there. The reason we had the Great Depression was because we didn’t do enough, right. So we I think we can all pretty much bank on that the Fed and the government and other central banks and other governments around the world are going to stimulate as much as they need to. They there is no tether whatsoever on the amount of money they can pump into a system. So if they do that, I mean, does that mean inflation? You know, when you say, well, there’s going to be a depression. Is that an inflationary depression? Is that a deflationary depression? Is it neither? These are nuanced issues for sure.
Patrick Wood, 37:35
Well, absolutely. They are. And it does make it doesn’t make a difference. I personally, I believe that we’ll be headed into a deflationary depression.
Jason Hartman 37:41
But why would they let that happen? Because they don’t they don’t want deflation. It makes their debt burden bigger and, you know, looking at debt The US has, why would they allow that? They’ll just print so much they’ll just create inflation, right?
Patrick Wood, 37:54
Yes, that’s right. But the the cycles of inflation and deflation often how Have a life of their own once they’re started, they often have a life of their own. And I think that’s what’s going to happen here. But here’s my here’s my prediction as far as technocracy is concerned, what people will beg for in the app is answers and solutions to make society work again. And I can almost just see this in my mind today that leaders and people on the street Main Street as they call it, will be begging for somebody to come along and provide solutions to make society work again, just make it work. and fix it is broken, fix the society, get the crime off the streets, get the sun, you know, kind of get the economy going again, that will be the day that these technocrats rise up again, make themselves visible and say, we have solutions if you just ask us for them. And we will come in and help you fix a system. here’s here’s a case in point to back that up, back in 1933. When FDR was just coming into the presidency, he’d been elected and he was yet to be seated in January. And the technocrats, at that day actually published a book and this was a big movement. Back then, by the way, there was hundreds of thousands of people who were card carrying dues paying members of the technocracy incorporated movement across North America. They actually wrote a book that begged FDR to declare himself dictator once he got into office, to dismiss all of the political system, Congress courts everything, and simply allow those engineers and scientists to set up a structure where everything could be managed by them. You didn’t need a political system. They said we can do it we can make everybody’s needs will be mapped and everybody will be, you know, they’ll have what they need and they won’t have to work so hard and you know, everything’s gonna be good. Well, this was a pollyannish dream, but The mean spirited attitude came out with this demand of FDR to declare himself dictator, say Holy mackerel, you. And I got this book. It’s a rare book, I got a copy of it, I read it and I brought my teeth. Well, we’re going to be back in a situation similar to this at some point where people are simply not going to care about the political system in charge, whether socialism, communism or anything, they’re just going to say, look, can anybody come along and make the system work
Jason Hartman 40:32
again? Well, that’s where we already have some degree of that now, certainly, and we’ve had it for, you know, a long time. I mean, they just create a crisis, and then come in and rescue the people from the crisis that was created by government in the first place. So that’s a that’s, you know, create a crisis then then solve it and in they always gain more control, as they do every time. They do that. It’s another layer of additional control and additional wealth transfer. And that’s exactly what you have happen, isn’t it?
Patrick Wood, 41:07
Exactly. Yeah. You know, I often refer to one of the stars the some of the Star Trek series that, that feature that that race called the Borg. And a lot of people under you know, know what the Borg was just science fiction, of course, but they had this, this famous phrase, we will assimilate and, you know, in a hive mind, we will assemble it, right? are gonna grab people and all of a sudden there’s technology all over a Monday is simulated damage to the hive mind, you know, this is the essence of transformation today, in my opinion, to look around the world is that this thing just keeps marching on and basically the saying, when we touch you, we will assimilate you and it’s this is exactly what’s happened. Now. That’s the thing. That’s the thing. Well,
Jason Hartman 41:55
okay, wrap it up with what can anybody do about any of this stuff it’s there’s it’s so wide reaching and you know, it’s just, there’s just so much to it but any action steps and then give out your website.
Patrick Wood, 42:10
In 2018, I started an organization nonprofit organization called citizens for free speech, and that citizens for free speech dot o RG to promote and defend the first amendment in particular and we’ve kind of been touching on that, during this entire interview one way or another. Free speech is on the chopping block. As you know, the First Amendment is on the chopping block, and our ability to communicate whether it’s through expression of religion, whether it’s through free speech or freedom of the press, or the righteous peaceable assembly, or the right to redress the government for grievances, all of those things, concerned communication and if we lose the ability to communicate in our country, we’re done. Europe you already alluded to has no such thing as free speech anymore. You say certain things, you’ll end up in jail. We’re headed that way. And you know, we have mounted a different That’s or the First Amendment free speech through citizens for free speech our membership is growing like mad right now with all the COVID crisis going on. And you know we’re we’re rapidly becoming a national voice for the free speech issues and I I would encourage people if you want to get involved with something to do something go to citizens for free speech dot o RG doesn’t cost a thing to sign up and stand with us and say, Yep, I’m, I’m done with all this other stuff. We need to start standing up ourselves and making our own voices heard in our local communities especially.
Jason Hartman 43:33
Yeah, definitely. Okay. So is that the website you want to share?
Patrick Wood, 43:36
Do you want to share citizens for free speech? Most people that might be listening would if they know my name or the word technocracy? They will find my professional website technocracy dot news very quickly. been around for a while and you know, we have quite a bit of traffic coming to our site every day. So people can go there to technocracy dot news and follow along with the story saga of technocracy in the world. today and I bring articles from all over the world, actually to the bear that has something to do with technocracy. And it’s not what I say that I want people to see. I want people to, I want people here to see what the other side is saying, you know, people like the Klaus Schwab’s of the world and, you know, the AO C’s of the world, whatever you got to see, listen to what they are saying. Right. And if you do, you’ll get an idea real quickly of what they have in mind to do. Yeah,
Jason Hartman 44:29
yeah, absolutely. Well, Patrick wood. Thank you for joining us.
Patrick Wood, 44:32
My pleasure. I hope we can do it again sometime.
Jason Hartman 44:39
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