115 | The Dollar Is Dying… Here’s What Comes Next with David Morgan

[00:00:00] Welcome back to another episode of the Vital Wealth Strategies Podcast. I’m your host, Patrick Lonergan, and today I am joined by David Morgan. A veteran precious metal analyst, macroeconomic strategist, one of the most respected critics of the modern monetary system. David has spent over four decades helping investors see through the distortions of fiat currency, market manipulation and centralized economic control, and he’s the publisher of the Morgan Report and the author of the Silver Manifesto.
In this episode, we go way beyond headlines and get into real conversation. Most people avoid how global monetary systems quietly erode freedom, how economic truth gets buried beneath mainstream narratives, and what happens when financial control becomes fully digitized. We talk about why freedom is often the first casualty in a rigged system, what the elites fear most about independent money, and the truth about cbdc or Central bank digital currencies, what they are, [00:01:00] what they mean, and what that can.
What could come next, but this just isn’t theory. David brings calm, clear insight that helps you think like a strategist instead of reacting like a consumer. And if you’re a business owner or high income earner trying to protect what you’re building, this episode will challenge you in the best way because the goal is in fear, it’s preparation.
Sovereignty is having a plan, and speaking of having a plan, if you wanna start building a real strategy around your taxes, cashflow, and long-term wealth protection. I want you to head over to vital strategies.com/tax. That’s where you can take the next steps and start putting a structure behind your financial decisions instead of leaving them up to chance.
And that’s vital strategies.com/tax. Go there to start building out your strategy. And one more quick favor before we jump in. If you get value from this episode, please take a moment to leave a review. It helps more entrepreneurs and business owners find the show and allows us to keep bringing new conversations like this.
With guests who tell the truth [00:02:00] and help you think bigger. All right, let’s get into it with David Morgan. I’m excited about this conversation today. We’ve got David Morgan. We’re going to dig into fiat currency, money supply, all of those other things. But before we do that, uh, just like to think about the problems that we, we face as, as entrepreneurs.
Uh, the modern financial system is dominated by fiat currency. It’s not backed by anything central banks market manipulation. Uh, increasing digital control inflation, uh, is, is a hidden tax and emerging tools, like just the, the Fed being able to manipulate these, these dollars are, uh, uh, money’s programmable and it’s permission based and it’s a problem.
Uh, internally we think about, you know, we, we, we have this success that we’re, we’re seeking after, uh, we’re trying to diversify our assets, but, uh, there’s this, this quiet sort of concern that wealth just is eroded by. Inflation. And it’s, it’s frustrating. We don’t feel like we necessarily have the freedom that we’re looking for.[00:03:00]
And finally, we just think about the monetary system, that debases currency and, I don’t know, we’ll call it, there’s surveillance on all of our transactions. It violates the principle, personal sovereignty, wealth should preserve freedom, not erod it. And so David, I’m really excited about getting into, uh, this conversation today.
Thank you so much for, for joining us. Well, it’s my pleasure, Patrick. Thank you. Yeah. So I, I’d like to, I, I know you’ve been, you’ve been studying, you know, uh, monetary policy and history for, for, for decades. Can you give us a little bit of your background and, uh, then we’ll, we’ll get into, uh, some of the opportunities out there?
Yeah. Well, I’m, uh, I am a degreed engineer. Uh, air engineering is my first degree. My second degree is, uh, master’s in finance. I’ve always been, uh, partial to the financial system, the markets and self-study on a lot of it. Uh, my degree is from a, uh, mainstream Keenan slanted [00:04:00] school, but I’d studied Austrian economics on my own.
So in the final phases of bad getting that degree, there were some, I wouldn’t say confrontation, but certainly some answers to, uh, you know, quizzes, questions. Papers that, uh, probably a lot of those picas have not seen in the past. So I’ve stayed in my integrity, but I’m a big believer in free markets, free market thinking and freedom.
Mm-hmm. And so along that basis, it took me into where I’m at now. I started on the web in, uh, about 1999, doing my passion, which is to teach and empower people understand the basics or the benefits, I should say, the benefits of an honest finance. Yeah. I love it and I, I think people should absolutely go check out the morgan report.com.
Uh, you’ve got a long running independent research platform there, which I think is, is great. You’re also the author of Silver Manifesto and uh, you’ve got, [00:05:00] uh, a documentary coming out. The, the Silver Sunrise, it’s come out, sorry to interrupt, it came out October 22nd last year, and it’s Silver Sunrise tv.
It’s free for everyone. It goes a little on the spiritual side of things. ’cause let’s face it, what is this human experience more than, you know, how much money we collect? So it goes into the control, stress that the mighty powers have over us and how to. Fantastic. And, uh, I, I saw that, uh, on your, your website.
I didn’t get a chance to dig into Silver Sunrise, but it’s, uh, it’s gonna be on my list, so, um. I, I, I think this conversation is, is so powerful. I, I’ve read, uh, a number of books on this topic. Uh, starting off with, um, Ayn Rand’s, uh, the, um, Atlas Shrugged. Uh, I’ve read Fountainhead. Uh, you know, all of those are kind of underlying this, this, um.
Uh, these, some of the issues with the, the [00:06:00] monetary policy. I’m also a fan of the creature of Jekyll Island, which really opened my eyes up to the, the issues that, uh, uh, we’ve got out there. So, can you, can you outline, can you lay the foundation for the problem that we’re, we’re currently facing? I think the best outline is to keep it, you know, succinct Occam’s razor as simple as possible.
I think most of us, uh, maybe not all of us would say, one of the primary lessons that we give our kids is you cannot get something in life. There is a price to pay. I mean, if you’re gonna be a supreme athlete, you might be gifted by God or whatever your belief system and have a lot of genetic ability, maybe superior to the average person, but you’re not gonna get to an elite status unless you take those gifts and work it some more.
Mm-hmm. You’re going to have, so there’s a price to pay. And if you’re gonna get to that level as an athlete, I’m using this as an analogy, I’ll get to the exact minute [00:07:00] that you’re gonna have to make some sacrifice. You know, when, uh, you’re a teenager and you’ve got a coach and your parents are backing you, and you’ll training maybe in the Olympics and that Friday comes up and most kids are out.
Drinking, partying, and you have to sacrifice that. Mm-hmm. If you really want, you know, I mean, maybe you would, but my point is you have to make sacrifices. You have to pay that. Mm-hmm. Well, I’d rather be my best athlete than to, you know, party tonight or whatever. And those are choices. And especially when you’re young, you kind of wanna fit in.
It’s more of a group think. I think when you’re younger, at least that’s been my, so the point is this, you cannot get something for nothing. You have to keep higher. Financial system on a world basis is the fact that they do get some, they, the banking elite get to put digits into a computer, pretend it has value, loan it [00:08:00] to governments ’cause they’re independent of face value plus interest, and put all of our labor at their command for something they get from practically.
That’s against everything we know as a first sprint, you can’t get something for nothing that the whole economic system runs on. That. That to me is as succinct as I can say. Yeah, no, I, I think this is good. And, and I think understanding how the system works that we’re operating in is, is such a valuable piece of this, uh, this whole conversation.
So. Let, let’s, let’s back up for a second. No, not back up, but let, let’s just continue on. What, what, what is the benefit of, of sort of rigging the financial system, uh, away from, ’cause we’ve seen, and, and this is a, a little history, you know, lesson for, for people every time that we get off of a, uh. A monetary [00:09:00] system that isn’t backed by physical asset.
It collapses. It, it, it fails. And, and that’s why the, the founders of this country said, Hey, uh, we’re going to, uh, we’re gonna have our, our, um, our money be backed by gold. And, uh, then we, we slowly started, uh, working our way off that system. And I think it was Nixon that, uh. Finally, um, you know, put that to bed.
So why, why, why does this matter? Why is it important that we, you know, we have a, um, a financial system backed by, uh, a hard asset? Why, why is that? Who, who’s benefiting from this, I guess, is the question? Well, everyone benefits if you’re on the sound bugs. I mean, if you look at, uh, monetary history and not very deep, you go back in like the 18 hundreds, but.
Basically on a sound money system, a loaf of bread costs the same amount for a hundred years. Mm-hmm. So let’s explore that a little bit further. So, if the Federal Reserve really met its mandate to keep, [00:10:00] you know, principles of sound money afloat, that’s not exact wording. Mm-hmm. If there were a mandate to keep sound money principles, what we would see is we wouldn’t need a financial plan.
And I wrote about this in the silver mask. So I would know the day I entered the workforce at, you know, age 16, really as a, as a teenager, part-time job. You know, let’s say career job. So I was in my early twenties. I would know from the day I started in the workforce that a dollar that I had saved at age 20 would have the same value or more value at age 40, 50, 60, 70 and eight.
Because in the sound money principles. You get actually a gentle deflation, which people don’t like that word because they think, oh my goodness, deflation. That means things go down. Actually, the real definition is the unit price has more value as time goes on. And why is that simple? We all know. Just [00:11:00] a couple quick examples of made an iPhone or a Android.
If you bought Android phone, I don’t know the years the ID is correct. Don’t quote my numbers, but a thousand dollars phone. 10 years ago might be a thousand dollars phone today, but a thousand dollars phone today does much, much more, has more memory. It’s fast, it connects the internet, whatever. So the price is the same.
Uh, the features are, are better. Now, that’s not true in, in all production. I mean, he costs more. Mm-hmm. Energy costs more. The idea is that we do better. Over time. So the productive capacity gets more efficient and uh, you see more features that are wanted by the marketplace develop, so, mm-hmm. Whatever the automobile is or the radio, tv, whatever, that’s have to be electronic.
Most things generally speak get better [00:12:00] over time. So that unit price, that ounce of gold buys. A better product 10 years from now than it did 10 years in the past, 20 years in the future. Yeah. So that means generally your money actually stretches further over time. Mm-hmm. And not drastically, but, so you would not need a financial planning industry at all.
You would know just by saving that You would, you know, you’d have to plan out your, you know, what your wage, mm-hmm. Within your means. But you would have a very good idea. Based on your lifestyle and what you wanted outta your life, assuming you had a decent job and pay your bills, what I would need to save for the future.
All of that’s out the window because if you’re certified financial planner or not, there’s a bunch of assumptions made and usually goes something very quickly. Speed this up, but, alright, Patrick, you’re here. The inflation rate’s 3.2%, which of course is a lie, but let’s just, we’ll go with [00:13:00] numbers. We could get you 7% when we put you in this future fund, the ETF and that ETF first fight across the board.
Uh, gimme your money. I’m gonna take, you know, 20% every a year, blah, blah, blah, blah. And, and this is full of to do it. Mm-hmm. Because the basic principle goes back to what we talked about and want reemphasize it. If the whole system’s based on getting something for nothing, then they’re diluting the mining supply, which makes every unit, uh, every quote unquote dollar.
Worth less and less. Over time, it becomes worth less and worth less and worth less. And then once it’s worthless, it’s the same word, but worthless means I don’t trust it at all. I need to spend it as fast as I can because I’m worried about, you know, two days from now, two weeks from now, two months from now, two years from now, that I don’t have any purchasing power.
So rather buy something of value that I could barter or exchange for currency in the future than hold onto this quote unquote with called money today. It’s really. Yeah. [00:14:00] Yeah. This is, this is interesting. I don’t wanna, let’s take a little detour and I wanna just get your opinion on, I, I look at the, the something for nothing side of things.
And, and I’m, a few things are coming to mind. Three things actually. First, I, I’m seeing massive inflation in the cost of healthcare, and I think about all of the, I’ll say government dollars that are showing up and people. Get effectively something for nothing. Uh, we also see it in education. Uh, the, the, the easy financing that’s out there for education for kids.
It’s like the cost just is unsustainable. And then we look at the, the COVID stimulus dollars that flooded the economy that, uh, pushed inflation to, uh, crazy numbers. Um, you know, the, like you mentioned, the, the government reported numbers are probably under what? Uh. Actual inflation is. And so I, I’m curious your perspective on, you know, this, this something for nothing perspective.
We see it, you know, [00:15:00] you gave a great example of the, the, the iPhone sort of holding value, uh, getting more features for the same amount of money, uh, over a period of time versus like these other areas where, uh, we’re we’re seeing tremendous price increases without actually getting better, uh, product in, in those things.
So, I dunno, do you have perspective on, on those? I do, I think the general trend is that things that we need are con, continually cost you more and more. Uh mm-hmm. You know, do you really need an iPhone? Like what? Or you know, food. I mean, let’s look at the food supply. Yeah. I mean, you know, I was really for the Green Revolution.
Ones a little past a teenager reading about it the first time and not understanding what’s really being said. But you know, GMOs for the most part are unhealthy in my view. I mean, there’s European countries that won’t allow. A lot of the additives that are in this standard American diet. So, you know, if we’re getting better and better for our populace, we want more and more nutritious food, not less and less nutri.[00:16:00]
So there’s one, and that’s a need, that’s an absolute. We all have to, and then you go into things like, you know, just buildings, I mean, the building materials now are, you know, in some ways superior, but it’s, it’s all about profit, uh, in most cases. Mm-hmm. And it’s in almost all cases. And that isn’t really the way.
I called the American system. You know, there was pride, I mean, to digress a bit, but there was a, you know, Spokane, Washington, where I live, we have some pretty powerful old architecture downtown. Happened to be in one of the, uh, mining companies that I worked with, and they were expanding the, uh, facility and they were taking out an interior wall.
And the two by fours interior to that wall were straighter, stronger than any board you’d see today at any lobby garden. They were true two by four, they’re straight as an arrow. And I thought, wow. You know, that was just a, in your face, you’re paying attention, which I usually do. How far [00:17:00] we are just looking at the profit.
Mm-hmm. And so I think that’s something that, um, needs to be corrected and markets usually do. Correct. I mean, you read, you know, the Fountain Head and command ran, uh, Atlas Shrugged. I mean, we’re gonna get to a point where the. Whole system will have to adjust. Uh, this just profit motive alone is not the only way to Sure.
Then a competitive society to really want a competition is you want a better product at a lower price. Mm-hmm. And that right to win it. And it still happens to some degree. I won’t say it doesn’t exist, but it doesn’t exist to the extent it did. Let’s say in the 19th, I’ll, I’ll give it back to you. Yeah.
No, this is, this is fantastic. Um, so I, I I’m just thinking through, uh, can we talk about the, what, what the threats are? Like what are the threats of the, [00:18:00] I I just think about the debt that we, we’ve got, uh, as a, as a nation and at some point, um. If you, if you play this out long enough, it starts to fall apart.
And what happens then? What happens if our financial system falls apart? I, that sounds like a very ugly situation, uh, for lots of different reasons, but I, I think it’s, it’s worth exploring. Like if we don’t take some action on the front end, we, we might end up in a bad scenario on the backend. So, uh, can we talk about that a little bit and what, um, then we’ll get into what some of the opportunities are to, to hedge against that.
You’re not getting any softballs today, are you? All right. There’s an answer and this is my best thought out answer. So really at the end of the great inflations, there’s two ways that we go. One is a hyperinflationary depression, and the other is a debt liquidating depression. Now, I just said the word depression in both.
In, in a hyperinflationary blow off currency is not [00:19:00] trusted, and that’s the most, in my view, morally. Inaccurate way to go because one, if you’ve broken the trust, it’s really hard to bring it. Mm-hmm. And it also basically wipes out the lenders. I mean, anyone that’s loaned money is, is gone because the currency they get back for the loan that they made is basically worth nothing at the end.
Now that’s extreme case, but we’ve had extreme cases. Mm-hmm. Backed recent on. Not just the Walmart Republic in the twenties, but uh, you know, Zimbabwe wasn’t all that long ago. Argentina happens every 10 years. There’s several others. So that’s one. Yeah. The other way is the debt liquidated depression, and that’s where we usually a debt liquidated depression, wrong or by Metallica in those cases mm-hmm.
The money actually becomes more about, but the moral integrity of the system stays intact. [00:20:00] People that loan money might not get it all back, but they, and some will get zero back. But for the most part, they’ll either get the asset collateral, it’s used for one. Mm-hmm. Or they’ll get a partial payment, or maybe they’ll adjust the payment to a lower interest rate over minute period of time.
But that’s basically the system settles itself out and it can restart. And so that’s morally, in my view, a more correct way to do it. But unfortunately, if you study monetary history, there has never been an instance where we haven’t gotten to a hyperinflationary blow off on an unbacked system. And that’s a Yeah.
So the tendency or the probability is greater that we’ll do a, some type of inflationary blow off, uh, rather than go into a, a debt liquidating system. So in order to prevent that. The bankers don’t wanna lose [00:21:00] control, and they have so much control right now getting something for nothing. They’re looking at the new system and the new system they’ve envisioned, which is pretty clear.
All you have to do is read the BIS website, bank of International Settlements, known one as the Banker’s Bank. I lectured on this over a year ago at the Gold Show in New Orleans. Tell you what they want and they want more control, as you already outlined. Mm-hmm. Patrick, they want a, yeah. Trackable, traceable.
Monetary system. That’s basically a cash to society that everything is on an electronic platform, whereas your identity is it really, they’re not too concerned about your identity, Patrick, you know? Mm-hmm. They don’t really care about your genetic profile or how athletic you are or what your lifespan is.
They care about what your bank, so you’re gonna be a number with an accountant. All they’re looking at is what your financial transactions are, regardless of your personal preferences or your personal needs. Well, Patrick bought this much meat. That carnivore is [00:22:00] over the carbon limit. You can’t buy steak.
Steak. Well, wait a minute. I’m throwing a party for my 20th anniversary of my wife and you tell me I can’t have a steak dinner to celebrate 20 years of marriage. You know, and I mean this sounds facetious, but it’s not. That’s the ability to have whether or not they would do it or not. Well, I guess you could say remains to be determined, but we’ve already seen a case where, you know, protestors using their right to.
Critical thinking in Canada said, you know, we’re backing the T truckers. Uh, this illness thing is wrong. You’re doing it the wrong way. We wanna say something about it. What do they do? They froze the banking. Yeah. Froze. Yeah. Well the froze the crypto accounts as well. So they don’t need a new system to lock you out.
They’ve already proven they can do it. So this is very disheartening because Yeah. You know. Yeah. Lemme just say one more thing real quick. To me, you have to go back to my early twenties and thirties. Financial freedom meant freedom. If I had enough in the bank, I could start a business. I [00:23:00] could give to charity.
I could go on a lecture circuit, I could veg out on the beach for two months, whatever. But money meant freedom. Now, it doesn’t matter. Be a billionaire, but if you’re not socially or politically correct, that doesn’t matter. Doesn’t matter at all. It’s just your poverty because they control. Yeah, more control.
So I want less, which, you know, sovereignty in your financial aspect. Freedom where total, total totalitarian control over your bank account is the opposite. Yeah, yeah, yeah. This is, this is so good. Um, because I, I, I agree. I, it scares me to have a, we’ll say Central Bank digital currency, you know, that, uh, they can monitor all of my transactions.
If they decide I’m eating too much meat, they shut me off. If they decide they don’t like my. Political contributions, they shut me off. You know, uh, my charitable contributions, my faith, any of those things like I, that I, I, I, I don’t like that at all. Uh, I value my freedom [00:24:00] more than just about anything.
If today’s episode hit a nerve, if it made you realize how fast the rules can change, how fragile the system can be, and how important it’s to have a real plan. But don’t just listen and move on, take the next step, because here’s the truth, you don’t need to predict the future to win. You just need a strategy that’s built to protect what you’re building no matter what happens.
Next. That’s exactly why I created vital strategies.com/tax. When you go to vital strategies.com/tax, you’ll be able to start building a tax strategy that helps you keep more of what you earn, strengthen your cash flow, and make smarter wealth decisions with confidence so you’re not reacting to the system you’re leading your life and business on purpose.
So if you’re ready to stop leaving money on the table and start playing offense with your wealth, head to vital strategies.com/tax and get started today.
Can you walk us through, okay, we, we’ve identified the problem. [00:25:00] Uh, what is the, the solution, how do we, how do we solve this problem? Uh, how do we take back some of the, the control and have, um, more, more economic freedom than in, in the current state? I will answer that question. I want to back up a little bit ’cause I actually didn’t finish.
Mm-hmm. Inflation deflation debate. So in either case you go onto a, basically a depression. But what happens? And let’s go there because you know, I used to think about that a lot until I, you know, got the answer. Let’s Sure. So in either case, all the wealth actually stays in place. So if you think about it, if, let’s say a financial collapse takes place and for talking purposes, that means that every bank in the world closes vote.
Two weeks. We’ll just use that as this. And I think everyone would agree if your bank account closed for two weeks, you know, how do you get a credit card to buy gas? How do you buy? I mean, it would be a price. You could [00:26:00] do one week, you could make it three days. Let’s just say that’s what actually takes place is very disheartening.
But if you look at it from the 30,000 foot view, which we often say all the wealth is still there. All the oil fields, all the wheat fields, all the schools, all the churches, all the shopping centers, all the trucking, all the autos, all the, you know, 18 wheelers all there, all the real wealth or transportation for real wealth communication, for real wealth is there.
So what happens? Well, what happens is the ownership and pricing or value. So if you are in a system that locks up like it did in the thirties when the banks were closed, or I forget how many days wasn’t forever short period. Mm-hmm. You find out that you know your mortgage is whatever. I mean lots, I won’t go into real details.
I [00:27:00] big broad brush view, broad red view is big. Settle down and they get repriced. So usually things that are on credits come down. What would that mean? That mean almost all commercial and residential real estate. Those are all based on the future value of the dollar. The dollar repriced for let’s say a more realistic, uh, connection to the labor rate so that the average person can buy shelter when a comes and maybe food that we really need.
That’s not on credit. It’s a cash only market. Maybe it stays the same or maybe goes up, could come down. Then you know, the automobile industry, which basically, I have to digress here just for a minute. ’cause most people are, yeah, I mean, most auto manufacturers are not in the automobile business. Wait a minute, David, are you out of your mind?
The manufacturer automobiles like crazy. They are finance companies and if they weren’t financing automobiles, they wouldn’t [00:28:00] be on. It’s sort of like McDonald’s story. Is McDonald’s a restaurant or is a real estate? Hey folks, it’s a real, anyway, sorry I hadn’t digressed. I love it. No, that’s great. The point being that we will have an adjustment, there’ll be new ownership.
I think it’ll be a more realistic way and from a more of a spiritual aspect. And I’ll go there because I do. Mm-hmm. Is it may be a cleansing that we really need now. Certainly it’s gonna be harsh and it’s gonna probably lower everyone’s lifestyle or close to it, but maybe that reset, whatever that looks like.
And I hope it’s, it’s mild. I hope it’s quick, and I pray that it’s. Equitable to everyone will be a shakeout that perhaps we need on a more spiritual basis and value what’s valued. In other words, one of my pet peeves in the silver sunrise is that kids are taught the wrong thing. They’re taught to value everything outside of [00:29:00] themselves.
It’s what kind of car could I have? What kind of house can I own? Mm-hmm. Where do I eat? What restaurants do I have? What purse do I have? What? What do I own? Everything is outside themselves for success. Mm-hmm. Success is an internal job. You know, it’s not about being a millionaire that makes you important.
What you learn on, that’s the journey and that’s the human experience that was not taught. It’s more about, mm-hmm what we can be, you know, I look for what you are not, or what you have and what you have, and that’s the same statement. So what you have in your integrity. In your human relationships, in your ability to help, in your ability to, uh, use the goods, the gifts you were given.
I think we’ve all been given gifts, maybe a very subtle level. Yeah. But there are people, I mean, when I had some very severe health issues, I mean, I teared up several times for what I think we would classify as average people. There aren’t really any [00:30:00] average people in my view, but these average people.
Had such great hearts, takes care of us Perfect Stranger with love and compassion up turned up. But it mm-hmm. It taught me. ’cause I, I’ve been cynical for a while. I mean, you know, you don’t read Anne Rand at my age and your age and, and come out feel like a world’s up, you know, kumbaya, you know’s a lot of reality about the leeches that are sucking off Duct Pass must that want to do and help others.
And that’s a class unto itself. And unfortunately. It exists and it’s getting stronger. So I digress. I’ll give it back to you, Kyle. Losing my train of Yeah, yeah. No, this is, this is great. And, and let’s, let’s touch on some of these spiritual things. I, I do like to acknowledge that, uh, we’re all beautifully and wonderfully made.
Uh, you know, there are no average people out there. We all, we all have our unique, uh, giftings. I also think about, um, sort of the reset, uh, that could happen because I, I think we, we look at the. [00:31:00] The alters that we’re worshiping at, you know, and they, they, they are, you know, bigger, faster, shinier, fill in the blank, right?
What is my social media profile? What do people think of me? You know, there, there’s a lot of pride involved in all of that. And, uh, I think if there was a reset, you know, getting back to, um, some of the, the basics might be really healthy, you know, I we’re, we’re by all measures, living in, uh, the most abundant time in, in history, right.
Um. We’re, we’re more depressed, we’re more anxious, we’re more disconnected, even though we’ve got these like thousand dollar computers in our pockets that, uh, are supposed to connect us. And so, uh, I think a reset, um, might be, be hard from a comfort point of view, but might be really good from a, a spiritual point of view.
So, uh, I do do appreciate that, uh, that perspective, uh, very much. And then, you know, again, I, I’m. I’m thinking about a few things. Uh, I, I’m looking forward to getting [00:32:00] into how we protect ourselves from this, but I, I think there’s some, if, if we could spend a minute too, you, you talked about the labor rate.
Um, you know what, getting, getting paid fairly for my, my labor and I think about what happens, you know, there’s, there’s free flow of money from the government, right? That that increases inflation. I also look at. What happens when we start manipulating the labor rate, right? Like I start raising minimum wage to push it up to a hundred dollars an hour.
Uh, it’s going to cost everything, every, it is gonna push everything else up in, in, in, in price as well. And, you know, just increase that inflation and it’s not actually gonna make life any easier for the person that’s making a hundred bucks an hour. Their money is worthless. So I don’t know if you have any thoughts or comments on that, but I I am just starting to, like, as you’re talking, I’m starting to see all of these areas that, uh, I’ll call it the, the powers that be are, are trying to, uh, erode [00:33:00] our, our freedoms.
And, uh, it’s, it’s showing up in lots different ways. So, well, I think that, uh, you know, if we go back to the core foundational arguments of how we started, it’s pretty simple and we have. Convoluted that to such an extent that we don’t even know our, our roots. But the idea is that all, all your, all your human rights are God given.
They’re given from a, a power and authority greater than the human being. And government was formed to protect those inalienable rights as God given her higher power, given rights, as he and government was full to protect those rights. That’s why it was formed. So we seed a bit of our God-given rights to you government for a common cause.
And the cause is to protect those rights. So if you, um, contract with me and you break the contract, I’ve got a legal basis to go to a court and present my case and [00:34:00] say that, you know, you didn’t fulfill the contract and therefore I need to be, you know. That problem needs to be solved. However, the court, yeah, so that’s very basic, but basically, you know, I’ll shadow the name, but Richard Mayberry, Richard and I have known each other for years.
He writes an early warning report and he talks about the two principles. You know, one is do everything you said that you were going do, everything you say you’re going to do and don’t infringe upon the rights. The first one is basically keeping your word. The second one is basically contract law. If I contract to do something, I gonna do it or not.
So there’s a legal remedy, but we’ve gotten to where, you know, the federal government especially, but state government’s almost as bad, or in some cases worse, that every detail of our lives is under some kind of bureaucracy. You know, housing, education, agriculture, I mean all the departments, you know, department of and all this stuff.
[00:35:00] Really, it’s unnecessary. People say, well, wait a minute, you know, who’s gonna build the roads? I mean, I don’t go in there ’cause it’s a, it’s not that deep argument, but I think, uh, your views are probably aware of it. If you just go to the mees.org, and I’m not a strict Austrian, I think there’s probably some, I don’t know, flaws is the right word.
I think it could be tweaked or tuned up a little bit. That’s personal opinion. A lot of the foundational arguments are very, very strong on the meas Institute, again, meas.org to get. I get both perspectives. I read a lot about the lab and mm-hmm. Probably lean right? I’m more in the middle. Uh mm-hmm. I’m fiscally responsible than within your remains, but socially liberal.
I mean, what you do behind closed doors says you’re business. It’s not hard. So you, that’s kind of a quick and dirty quote, unquote term perspective. I’m more, I guess, constitutionalist than that, but I don’t wanna put myself in a box ’cause you can’t me or many in a box, but that’s, sorry. So I [00:36:00] think we need to go back to that and I think the way we’re gonna get there, unfortunately, from what I’ve read, studied and believed is not an easy, it’s not a, oh, all we have to do now is stop printing, press and you know, pass these laws and pass the big beautiful bill or all this nonsense that we keep getting fed constantly from the political class, which is basically a pack of lies.
Everybody pretends it’s gonna be okay in the future. And as you said, you know, if you look at it from a strictly materialistic perspective, we’ve never had so much materialism and so little integrity. Yeah, yeah. No, I, I think you’re highlighting a really important point around sort of the mainstream narrative, right?
Like, if we’re not careful, if we’re not critical thinkers, we, we end up just. Consuming and believing everything that, uh, is, is given to us. And so I think that’s, that’s a very, very dangerous place to be. Uh, it’s, it [00:37:00] can be a little bit of, uh, you know, um, emperor has no clothes. Everybody just believes that it’s okay.
And even though despite all the evidence staring, uh, straight in the face, uh, we’re just, uh, going along with the, uh, general consensus and that, um, uh, it’s a scary place to be. So. Okay. Uh, I, I, I think about how do I go about reclaiming my, my monetary sovereignty? How, how do I, how do I do that, right? Like, we, we’ve highlighted some of the, the problems that are out there, but what is the opportunity for me to go, all right, I see those problems.
Let’s go, let’s go do something. I’ve got some agency. Let’s, let’s, um, let’s fix that problem as best as I can. Well, there’s a few ways. First of all, if you look at, um. Legacy wealth. I mean anyone in, you know, wealthy, whatever, how you define that, three things. It’s land, it’s gold, and it’s fine art. Mm-hmm.
Fine art’s outta my realm. But [00:38:00] if you’re very, very wealthy, it definitely plays a part. I mean, if you were in a hard times and wanted to be a gray man, meaning blending in with the vast majority and live in a modest dwelling. You could still have three Rembrandts that are worth, you know, 500 times the price of that, of that structure and be low key.
If no one what those paintings were, don’t put ’em on your wall. Right. So, but I, I digress, but gold, gold holds its value throughout time. Yes. It varies in price. It goes up and down. Sometimes gold, old brown. Mm-hmm. Sometimes gold is under about, sometimes golden stir about, but in the aggregate, on the average over, you know, various lengths of time provides.
Hmm. And land basically does the same thing or better because all productive capacity on earth comes either above the land or under, either you’re getting oil or minerals under the ground, or you’re putting something on top of the ground crop or real estate, be it [00:39:00] commercial or residential. So it’s that simple.
So that’s the very wealthy, but to drill down on that for the average person, you know, buy some silver coins, I mean, silver. It is still not unaffordable. It’s certainly much higher in price than it was, uh, just a few months back, but I don’t think it’s reached its own full value yet, especially if we go into a hyperinflationary or a more inflationary environment.
That’s what the metals are telling us. They’re giving us the weather report that the storm ahead isn’t honest full force yet. And if you don’t have some protection and it’s legacy, I mean, it’s very easy to pass a gold coin on your granddaughter without having to say very much so. Wait a minute, you know the control freaks, as we’ve already talked about, one ultimate control of everything we have that hasn’t happened yet, and even if it does happen, the caveat is there [00:40:00] are states in the United States of America.
Where you can use gold and silver in transactions out law within that state. So practice that, you know, now you’re not gonna be able to go to a commercial real realtor commercial entity like a Walmart when a Silver Eagle on the count say, I want to buy this bread. But a farmer’s marketings. Mm-hmm. And there aren’t as many.
We both know that there’s a lot less, you know, mom and pop. Stores or, but there still exists and, and that this collapse happens. Uh, I really believe it’s happening about, mm-hmm. Human, the human spirits, I mean, people do stuff. I mean, you look in Argentina, they go through this every decade or so, and they’re still here.
So what do they do? They have a lot of farmer’s markets or LEA markets they call ’em. And, you know, apples for, uh, [00:41:00] shirt and gold for, uh, yep. You know, repair my basement and, you know, they do it. They can, they could buy. And why would Americas be any different? I mean, why, so? Um, so there’s that aspect, you know, there’s cash, use cash until you can.
Mm-hmm. You know, I mean, I haven’t, they, I’ve only done it a couple times. I mean, I’ve, you know, got the, uh, fortitude, but it takes a little, no, I don’t, we plan, but, you know, going to Starbucks and say, I wanna buy this coffee. Don’t accept Cashs. Just play. I call it, you know, dumb, poor, nothing against the name Dora.
Yeah, dumb. Do, uh, whatever, make up a name. Wait a minute. It says, for all, and I say it loud enough not to be obnoxious, just loud enough where, you know, the people behind can hear. I mean, this isn’t any good for payment. It wasn’t a debt, and you don’t let a big deal out of it. Like, well, okay. I guess I can’t use a, a, a Federal reserve note here.
Okay. And [00:42:00] then other times I’ll go even a little further and I’ll ask, I got a bump spot. Do you accept money? What do you mean? Well, I mean, you want this private script from an independent banking entity that loans to your government, or do you want money? Mm-hmm. I go, only these silver quarters are worth what?
I don’t even know. They’re so valuable. He said, yeah, but where you want some money? Or do you want. You know, a lot of times they all, you know, that little lesson I’ll take? Mm-hmm. Yeah, yeah. Push. It’s subtle, but you know, the idea is what’s important, what’s the addict? Mm-hmm. I know better than me, but there’s nothing more important than an idea type of stuff when the idea is you gonna center our own two feet.
You don’t have to be mean nasty or aggravated. We just have to be, um, consistent that I want to pay cash. Why can’t I. I’ll pay you in money instead of script I’ll mm-hmm. You know, get, get the thought [00:43:00] process going. You, you can, in my belief system, you can incur a critical thing just by asking right questions.
Yeah. Yeah. This is, this is great. And I, I think back to your, your, uh, comments. I want, I wanna highlight yes. The, the price of silver might be higher than it has been recently. If we believe that there’s going to be more inflation in the future, um, it may be valued exactly where it needs to be. So, um, yeah, I dunno, there, there’s, there’s lots of different thoughts on that, but I I, I really like what you’re, you’re talking about as far as like these, these hard assets, gold, silver land.
That’s, that’s an interesting one. And you know, I think about, you know, this building I’m in right now, the land has value that it’s sitting on. The structure itself, uh, you give it enough time, it will depreciate down to nothing. It’ll be a pile of sticks and bricks, um, ’cause it’ll fall down. But, uh, the land itself is, uh, is valuable because there, there can’t be enterprise that happens [00:44:00] on it or like, you know, everything you mentioned.
Yep. You know, below the ground. On the ground. Above the ground. Like that’s, uh, let me, that’s all revivify that, sorry. But the Europeans have a say, I don’t know what language, French or Spanish, but it’s never sold the mul. Which is what you just outlined. So if you own the land and you own, let’s say, I don’t know, a city block in, uh, London, God who knows what that’s per mm-hmm.
A hundred years from now, those buildings will be gone. But if you own the mud, you own the land, whatever new structure is on that land you still own. Mm-hmm. Now you might be leasing it, you know? Yeah. But what, that’s very important because. You know, nothing in this, uh, in the human experience lasts forever.
I mean, all the forests that we have right now, I mean, there’s trees that last, what, 500 years or more, but still, I mean, every forest has got a lifespan. You know, I mean, you know what I’m, but uh, the idea that never sell the mud is the idea that that land’s not going away for [00:45:00] a very long time. Yeah.
Regardless of whether it’s use is as long as you own that. You own. Mm-hmm. Whatever can come above it or below. Yeah. Uh, David, one thing I’m interested in your perspective on is, uh, we’ll call it cryptocurrency, bitcoin, that type of thing. You know, I, I look at it very similar to, you know, there, there’s no physical asset backing it, just like there’s no physical asset backing, you know, the, the US dollar anymore.
But I, I’m curious your perspective. ’cause I, I think there’s a, there’s a contingent out there. I can’t say I fully understand the, the Bitcoin argument, so, uh, I, I can’t defend it one way or the other, but, um, uh, why Bitcoin isn’t a, a good, um, tool for, for economic freedom, we’ll call it. Yeah, well I think the original white paper, you know, reportedly had all that in mind.
I mean, if you read it. Originally, and I think the white paper’s still out there, I don’t think Tering, but basically it was kind [00:46:00] of a libertarian street peer peer payment system outside of the authoritarian control. Mm-hmm. And it flipped, just become the exact opposite of what it’s purported to be from the initiation.
I did a series, it’s on my website, the morgan report.com. Hit the blog tab. When you go over to the blog page, there is like 1700 interviews or something. I’ve done it in 25 years. You’re not gonna find it. Use the search engine. Had been crypto conspiracy in the search engine. Yeah. When you do that, you’re gonna get 30 podcasts where I went down the opposite, the other side of the coin on the Bitcoin, and I went into where it originated, who’s behind it, how Epstein tied the Bitcoin, how Bill Gates tied it, uh, Bitcoin, how MIT tied to Bitcoin, uh, how it was hijacked taken over by the banking establishment.
Put in an ETF and it’s controlled by the very people that you’re trying to break away from in the initial paper. So I’m not pro Bitcoin on top of that. If I just put on a financial [00:47:00] hat, I say, wait a minute, Bitcoin’s so valuable. Then why are the miners losing money hand over pits? If I’m in gold mining business and that’s kind of my specialty and I’m evaluating a mine of gold and they’re losing money day after day, why would I ever recommend that mine?
That the main miners in the United States Marathon Riot and the others are losing money like crazy. Just look at their stock price. It’s going down, down, down, and the price of bitcoin’s actually not going up and up and up, gone up, and it’s kind of going sideways. It’s try to hold above 90,000. It is not what it was.
Deported it mm-hmm. Is cumbersome. It’s slow. It cannot be used in the original MA manner. Now I had. Kurt ERT on, I think it’s episode 14, uh, would look it up by name. It’s Kurt ert. Um, he’s kind of an archivist or not kind of, he is an archivist and he agreed with me on most of what I’d proposed up to that 14th episode.
And he’s a big [00:48:00] proponent of the original, uh, blockchain before at, for, and I’ll get into an argument. I don’t really understand it, but I trust Kurt and uh, yeah, sure. Unfortunately, I think the blockchain’s here to stay. I and I separate the teeth. There’s a difference between a cryptocurrency and the block.
The blockchain is going to be incorporated, but Bitcoin itself, I cannot, with a good heart, recommend it. But I’ll, um, I’ll talk outta the other side of my mouth. I am a free market libertarian thinker, and you wanna be a Bitcoin maximalist. It’s not my job to tell you what. It’s my duty. Yeah. To tell you that Bitcoin loses money when the mining, yeah.
That I don’t think it’s gonna last forever. That when it shows up on the periodic chart, I’ll call it digital, until that day, they are not Same thing. Or even nearly losing. You know, if you look at what Michael Sailor’s done and he makes some very [00:49:00] strong arguments, but just because you talk well doesn’t mean you know a lot.
Yeah. Yeah. That’s great. And so I, to recap what you said, I I really like this, this gold, silver land, uh, holding these, these physical assets, I think is, um, awfully important. And, and when I think about tying a few, uh, the, the concepts you, you discussed together, now I can take a piece of silver and I can trade it for some commodities that I can now barter with.
If, if we think about the, the economic system really. Having, having troubles and all of, you know, if it takes a wheel barrel full of cash to buy, you know, a, uh, a loaf of bread, like that’s, that’s not, that’s not an effective way to transact. And so, uh, I, I’m thinking about my hard assets that, that retain their value, that I can exchange for, uh, maybe different commodities that now I can barter with at, uh, we’ll call it the farmer’s market.
I think now, now we’re sort of back in business versus, uh. If [00:50:00] my debit or credit card no longer works, uh, I’m in, I’m in real trouble. So, uh, anything to add to that? No, I think it’s more, you know, self-reliance. I mean, you know, purportedly I wasn’t there, but after the, I guess constitutional convention, you after read between the lines here folks, but you know, Franklin comes out and some woman supposedly asked him, you know, well, what have you given us?
And he said, A republic, if you. You know, because the, the premise was that we would be knowledgeable in law and knowledgeable in religious freedom, not necessarily have to believe anything. You have the right to believe whatever you want. And now we would basically have that common heritage of we were responsible for our own actions.
And that self responsibility has been diluted year, after year, after year. Well, I don’t know enough, so I need to. Go to school to be educated. Well, [00:51:00] okay, that’s probably a bad example, but I don’t know enough to cook. I need a food service to deliver to, or I’ve gotta eat out at a fast food place. ’cause I don’t, I don’t, I don’t know, know.
They don’t take the responsibility for actions of their own. And they’re taught that this victim mentality, that it’s not your fault. Well, there are cases that that’s true, but the majority of cases. You’re responsible for what you put in your mouth. And there are people that have a weight problem that it isn’t.
I believe that. Mm-hmm. But there’s also many that could control it if they, and that’s your own responsibility. And there’s a responsibility in a way to yourself, not only to be true to yourself. The great oracle of Delphi that’s helping be true is one of the adages I try to live or do live by. Mm-hmm.
But the other one is like, where do we. Where do we get the most satisfaction? I mean, if we win the lottery and we just count the money [00:52:00] in the bank, how satisfied is that satisfaction comes from having a windfall, sharing it with us, taking your friends to a five star restaurant, taking ’em to that Super Bowl game ’cause you’re all football fanatics or whatever.
And that’s what the human out more about giving than receiving in a way. People don’t get that concept. It’s more like, look at what I have. I’m important ’cause of what I have. No, you’re important because of what you have in the actions. The walk, the walk talk. That’s where the real setting comes from.
We’re not taught that how we’re victims. And it’s not your fault. You, well, maybe it’s not. I mean, I could go along that, but you don’t have to buy into that. How many, I’m assuming the most court warning stories to me, and I’ll give it back to you, is, you know that person that was a welfare recipient, victimhood all the way, raised that way, believed that way and hit some.
Some turning point that one place and realized it, read a book, heard a lecture song, whatever the [00:53:00] impetus was saying, you know what, this is bullshit. I could, the biggest flaw in the human structures, the belief system can overrule. I don’t like that, but it’s, it’s my understanding from all I’ve learned up the seven decades that you can believe something that just isn’t true, and that’s unfortunate because the truth should overcome everything.
Yeah. Amen. Uh, David, this has been a fantastic conversation. I feel like we could, we could continue it on for probably another hour or so if we wanted to. Uh, just to point people though, I, I think everybody should go check out the Morgan report.com. You’ve got free insights, educational resources, independent research.
It’s, it’s a wonderful resource. Um, and checking out your, your documentary as well. Uh, they can find that on the, the website as well. Uh, can you give us the link one more time for, for the documentary? Yeah. ’cause I, I know that, uh, is, is out there at Silver Sunrise TV and it Great silver. Just under that url, there’s a big, you know, [00:54:00] thumbnail they call it with a big arrow in the middle.
Just click it hour and half long. That one watch on the weekend comment section is open. If you’ve got some constructive criticism, I like to hear it. Okay. If you wanna be nasty, I probably, I don’t look. Yeah, yeah. But you know, I’m up for, you know, whether I’m doing SQL or not. I don’t, uh, I also think you’re just such a resource.
Uh, people can consult with you if they’ve got a desire to, uh, make some investments in, uh, hard assets, gold, silver, what have you. Uh, you know, I think you’re, you’re, uh, in just some of our, our conversations outside of this, uh, you’re one of the most efficient ways to. Get access to these, these resources.
It’s, uh, it’s really good. So I think people should, again, check out the Morgan report. Uh, you can connect with David there and, uh, learn more about how to, um, make some of these investments and things like silver, which is, which is great. And when I think about the stakes that we’re facing, you know, [00:55:00] if the entrepreneur just ignores these warnings, right?
There’s, there’s a risk of, of failure when access to capital starts to get restricted. And, uh, purchasing power continues to erode. Wealth becomes just conditional on compliance, right? Like if the, the, the powers that we have, the ability to shut our, our wealth down with, uh, uh, our non compliance, that’s, that’s no fun.
We think about it on the other end. If we, we engage, uh, we gle gain clarity and conviction, we, we now have optionality and my wealth is no longer fully dependent on the systems that can be manipulated, printed, or digitally constrained. And so I think that’s a, uh, awfully powerful position to be in. I, again, our, our whole objective is, is to just have freedom.
Uh, that’s why we are trying to build these businesses so we can have a freedom to do all the things you were talking about. We, we like this acronym called reach, uh, the s for relationships, uh, and the, the acronym reach is the most valuable things in life. So s for relationships, ease for experiences.
You’re talking about taking your friends out to that dinner at the Super [00:56:00] Bowl. Uh, a for advancement or growth. You know, I, I just think of all of them. Reading and learning you’ve been doing. Same thing here. It’s like we’re constantly trying to get better sees for contribution. Let’s make an impact outside of ourselves.
The scriptures tell us that, uh, it’s better to give than receive. And then h is our health. We think there’s three components to that. There’s a spiritual health, there’s an emotional health and a physical health. And if we’re not, uh, healthy there, uh, nothing else really matters. So, uh, the world tells us to go find a bigger, faster, shinier, fill in the blank.
And, uh, we, we all know that, uh, just returns void. So. David, this has been a, a fantastic conversation. Any, any last little comments before we wrap up? No, it’s been a true pleasure and thank you for the reach. I will, uh, take that to heart. Very well said. All right. Wonderful. Thank you. All right, my friend, that’s going to wrap up today’s episode of the Vital Wealth Strategies Podcast.
First off, thank you so much for tuning in and spending part of your day with me. I hope you got a ton of value from this conversation with David Morgan, and more importantly, I hope it gave you a new lens to look through when it comes to [00:57:00] protecting your wealth, staying ahead of the curve, and making decisions from a place of strategy instead of fear.
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