[00:00:05] [SPEAKER_00]: PPH Special Report No Music Not Even A Full Show Today
[00:00:11] [SPEAKER_00]: Unfortunately, some technical issues have wracked the broadcast here.
[00:00:17] [SPEAKER_00]: But we'll be getting everything squared away by next week and come back hard with the news.
[00:00:22] [SPEAKER_00]: Couldn't let it go another week without at least getting on here and talking a little economics and a little Bitcoin as well.
[00:00:29] [SPEAKER_00]: We'll get into it. But jeez, I guess it's been about 10 days since Gotham get out and did great event, learned a lot.
[00:00:40] [SPEAKER_00]: I'm really looking forward to going back and listen to each part of it all the way through.
[00:00:45] [SPEAKER_00]: I decided I would wait a few weeks before listening to it all through.
[00:00:52] [SPEAKER_00]: After Effect No. 1
[00:00:55] [SPEAKER_00]: I was super tired the next day but I was able to power through, went 36 plus hours without sleep and then finally crashed out about 14 hours on Presidents Day so that was nice.
[00:01:05] [SPEAKER_00]: I took a few days off of my workout routines after that.
[00:01:10] [SPEAKER_00]: But about five days later I went on my usual run up and down a relatively big hill.
[00:01:18] [SPEAKER_00]: It almost hit a personal record.
[00:01:22] [SPEAKER_00]: So definitely that I put in about nine miles on Gotham get out.
[00:01:28] [SPEAKER_00]: Mostly, relatively flatland a few hills here and there.
[00:01:32] [SPEAKER_00]: But let me tell you my two and a half mile up in 500 foot elevation gain.
[00:01:39] [SPEAKER_00]: That was nothing compared to Gotham get out physically.
[00:01:42] [SPEAKER_00]: So I have to up my exercise routine now get it up another level.
[00:01:49] [SPEAKER_00]: But I was really happy that I've been working hard every week, every month, every year for the last several years on my physical fitness.
[00:01:56] [SPEAKER_00]: It definitely helped Gotham get out.
[00:01:59] [SPEAKER_00]: Again, it took me a few days to recover and this is something I wanted to touch on before I get into some of the economic news.
[00:02:05] [SPEAKER_00]: And of course, Bitcoin 60K and rising.
[00:02:09] [SPEAKER_00]: But it's the question of can you do it on day two?
[00:02:14] [SPEAKER_00]: Can you do it on day three, day seven, day 21 and that's the bug out or live in after SHTF.
[00:02:23] [SPEAKER_00]: What I would like to see for the next Gotham get out equivalent exercise is a 72 hour period minimum 48 but 72.
[00:02:33] [SPEAKER_00]: And we ended up actually canceling the third phase just because we were going to have to drive more than an hour from where we were.
[00:02:41] [SPEAKER_00]: And then drive someone actually both James and future Dan would have had to drive another couple hours.
[00:02:46] [SPEAKER_00]: Also short, they're already on more than I guess 30 plus hours of no sleep and they were going to have to drive multiple hours.
[00:02:56] [SPEAKER_00]: Probably not a good idea.
[00:02:59] [SPEAKER_00]: So for what it's worth though, you can power through 12, 24, 36 hours.
[00:03:07] [SPEAKER_00]: But after two, three, four days, if you had to put in those miles, if you had to live outside in the cold or in the summer and the hot and you're not showering,
[00:03:17] [SPEAKER_00]: you're just getting some trench foot as an example.
[00:03:20] [SPEAKER_00]: Anyway, it just builds over time.
[00:03:22] [SPEAKER_00]: So we all have real lives.
[00:03:23] [SPEAKER_00]: We can't just go out into the woods for days at a time and freeze our ass off for fun or for content on Patriot Power Hour and Pepper Broadcast Network.
[00:03:36] [SPEAKER_00]: But I think a 48 hour challenge or even 72 would be ideal because it's really that day two, day three that you really probably go even deeper.
[00:03:46] [SPEAKER_00]: But you can feel yourself change over the hours just even by our six, seven, eight of on the road.
[00:03:54] [SPEAKER_00]: Cold as heck, you're underdressed.
[00:03:56] [SPEAKER_00]: You can kind of tell you get a little bit more different mindset, a survival mindset.
[00:04:02] [SPEAKER_00]: It's great.
[00:04:03] [SPEAKER_00]: It sucks, but it's also you just plow ahead.
[00:04:07] [SPEAKER_00]: Whatever needs to be done, you'll get it done and you'll get through it.
[00:04:09] [SPEAKER_00]: That's a good feeling, something we all need to cultivate a lot more as preppers.
[00:04:15] [SPEAKER_00]: And again, if you went multiple days in these tough situations, then you would have to dig even deeper.
[00:04:24] [SPEAKER_00]: Knock on with no injuries or nothing like that.
[00:04:27] [SPEAKER_00]: So economically, and again, this is not a full Patriot Power Hour.
[00:04:31] [SPEAKER_00]: It's probably going to be another 10 minutes.
[00:04:33] [SPEAKER_00]: Essentially it's a daily audio cache.
[00:04:35] [SPEAKER_00]: I wanted to get on here and just talk a little bit.
[00:04:38] [SPEAKER_00]: Not even too much, but I do encourage if you did not listen to Gotham get out, go back.
[00:04:43] [SPEAKER_00]: Just a couple of weeks ago.
[00:04:47] [SPEAKER_00]: I guess that would be like the 17th and 18th of February about that time.
[00:04:56] [SPEAKER_00]: Go back and listen to that.
[00:04:58] [SPEAKER_00]: It was great stuff, I thought.
[00:05:01] [SPEAKER_00]: But economically, before I even get into Bitcoin, we have a new report that I just think really sums it all up.
[00:05:07] [SPEAKER_00]: And that's why I titled this broadcast as confirmation of an economic depression because we are in a depression.
[00:05:18] [SPEAKER_00]: We do have negative real GDP growth that's gone on for multiple quarters, if not multiple years.
[00:05:27] [SPEAKER_00]: I won't get too deep into it, but everybody knows inflation is up.
[00:05:35] [SPEAKER_00]: And GDP is not up at the same amount.
[00:05:39] [SPEAKER_00]: If inflation's up 10% and GDP is up 5%, then the real GDP is a negative number and did not keep pace with inflation.
[00:05:52] [SPEAKER_00]: So that is going on.
[00:05:54] [SPEAKER_00]: But even let's take inflation out of the equation.
[00:05:56] [SPEAKER_00]: So I think just that alone is confirmed negative growth in real terms, multiple quarters and even years, meaning we are in a depression right now.
[00:06:08] [SPEAKER_00]: And it's getting worse.
[00:06:10] [SPEAKER_00]: But throw that out.
[00:06:12] [SPEAKER_00]: Let's just go with the government spending aspect of it.
[00:06:15] [SPEAKER_00]: A new report came out showing that the government spent way more in a deficit.
[00:06:22] [SPEAKER_00]: Not just the spending, but the deficit what they're adding to the debt was much higher than the actual growth.
[00:06:31] [SPEAKER_00]: That's like spending a dollar and getting 30 cents back and calling it a great economic story that's just going to propel Biden to the next election.
[00:06:45] [SPEAKER_00]: So I'm trying to pull out the numbers.
[00:06:47] [SPEAKER_00]: I just had it and they crashed.
[00:06:48] [SPEAKER_00]: You always love when you pull things up on phones, computers and then they crash.
[00:06:53] [SPEAKER_00]: There it is already in the fourth quarter of 2024 or excuse me 2023.
[00:07:03] [SPEAKER_00]: Time is flying but not that quickly I guess today, the 28th of February 2024.
[00:07:11] [SPEAKER_00]: This article just came out today US GDP grew 334 billion with a B.
[00:07:18] [SPEAKER_00]: That sounds like a hell of a lot.
[00:07:20] [SPEAKER_00]: 334 billion growth and GDP.
[00:07:24] [SPEAKER_00]: Holy cow.
[00:07:25] [SPEAKER_00]: Remember that doesn't take into account inflation but throw that away.
[00:07:28] [SPEAKER_00]: Don't even worry about inflation even though it's huge.
[00:07:33] [SPEAKER_00]: But look at this, that 334 cost 834 billion in debt.
[00:07:45] [SPEAKER_00]: That's right.
[00:07:47] [SPEAKER_00]: Almost three times almost three to one.
[00:07:49] [SPEAKER_00]: So essentially it is like spending a dollar and getting, I don't know, 40 cents back.
[00:07:55] [SPEAKER_00]: I mean at least you're getting some money back.
[00:07:57] [SPEAKER_00]: It's not just like totally gone.
[00:08:01] [SPEAKER_00]: It's not literally just all lit on fire blown away.
[00:08:05] [SPEAKER_00]: Actually you get a little bit of a turn.
[00:08:07] [SPEAKER_00]: I like it.
[00:08:08] [SPEAKER_00]: Only a 60% loss right?
[00:08:11] [SPEAKER_00]: So anytime they talk about GDP growth you want to ask what is it compared to inflation and what is it compared to debt?
[00:08:19] [SPEAKER_00]: And we're talking only government debt here.
[00:08:21] [SPEAKER_00]: What about consumer debt?
[00:08:23] [SPEAKER_00]: How much of this 334 billion dollars in Q4 growth came from loans?
[00:08:30] [SPEAKER_00]: It's not real growth.
[00:08:33] [SPEAKER_00]: We'll pay this back in the next 5, 10, 20, 30 years as these people say and they're getting these loans.
[00:08:40] [SPEAKER_00]: How much of this true growth?
[00:08:42] [SPEAKER_00]: Not that much.
[00:08:44] [SPEAKER_00]: Not that much.
[00:08:45] [SPEAKER_00]: And there's a lot more debt than 834 billion is what I'm saying.
[00:08:48] [SPEAKER_00]: That's just kind of like the government debt.
[00:08:53] [SPEAKER_00]: Anyway, Bitcoin.
[00:08:54] [SPEAKER_00]: I'm not here to brag about Bitcoin people but I've been talking about on this network for quite a while since we joined and even before this network.
[00:09:02] [SPEAKER_00]: Bitcoin should be part of your financial strategy even if it's only 5% to 10%.
[00:09:09] [SPEAKER_00]: Bitcoin right now $62,385.
[00:09:14] [SPEAKER_00]: At the time of Gotham get out it was just about 50,000 so up about $12,000 in the last couple weeks.
[00:09:22] [SPEAKER_00]: It's doubled in the last year actually more than tripled since this time last year.
[00:09:29] [SPEAKER_00]: And it's super volatile and it should again only be a small portion.
[00:09:35] [SPEAKER_00]: Maybe I'm wrong because if you put all of your 5 eggs in this basket baby you would be able to buy 20 homesteads.
[00:09:44] [SPEAKER_00]: So listen, it's not too late to get into Bitcoin.
[00:09:47] [SPEAKER_00]: Number one.
[00:09:48] [SPEAKER_00]: Number two, there likely will be pullbacks so you don't have to buy it all right now.
[00:09:53] [SPEAKER_00]: Buy it if it goes back to 55k, 50k, 45.
[00:09:57] [SPEAKER_00]: Especially if there's a stock market crash.
[00:09:59] [SPEAKER_00]: Be on the lookout.
[00:10:01] [SPEAKER_00]: In 2020 especially the COVID stock market crash Bitcoin lost like 20% of its value one day and the stock market lost 15-20% as well.
[00:10:10] [SPEAKER_00]: But Bitcoin bounced back to all time highs 12 months later.
[00:10:13] [SPEAKER_00]: Then it's of course had a bear market recently but it's all the way back.
[00:10:19] [SPEAKER_00]: And per almost everybody 97% of people that have bought Bitcoin are in the profit right now.
[00:10:26] [SPEAKER_00]: Some people quite a lot.
[00:10:28] [SPEAKER_00]: Now what do you do with Bitcoin?
[00:10:30] [SPEAKER_00]: There's a lot of things.
[00:10:31] [SPEAKER_00]: If we're preppers you can turn those into prep so you can turn them into a homestead.
[00:10:35] [SPEAKER_00]: You can turn it into gold and silver right?
[00:10:39] [SPEAKER_00]: If you don't trust Bitcoin, you don't trust the internet, don't trust electricity.
[00:10:44] [SPEAKER_00]: That's good.
[00:10:45] [SPEAKER_00]: You're a prepper.
[00:10:46] [SPEAKER_00]: I don't fully trust that either.
[00:10:49] [SPEAKER_00]: I absolutely don't put all my eggs in one basket.
[00:10:53] [SPEAKER_00]: But as long as there's power and as long as there's internet, in my opinion there will be Bitcoin and it'll be very valuable.
[00:11:01] [SPEAKER_00]: It's essentially electronic gold.
[00:11:05] [SPEAKER_00]: But if the power goes out, I hope you have some real preps.
[00:11:09] [SPEAKER_00]: Real gold, real silver, real food, water, network of people, health.
[00:11:17] [SPEAKER_00]: And I think it's about, I don't know exactly when it was.
[00:11:20] [SPEAKER_00]: It'd be interesting to see what the price of Bitcoin was when I put this out.
[00:11:23] [SPEAKER_00]: But James Walton, the Trepid Commander created a pyramid of preps that bend the breaker of anchors.
[00:11:33] [SPEAKER_00]: Well, I was talking about it on one of my shows.
[00:11:35] [SPEAKER_00]: He turned it into an image and it was great.
[00:11:38] [SPEAKER_00]: I got it somewhere.
[00:11:39] [SPEAKER_00]: I just got to go check it out.
[00:11:41] [SPEAKER_00]: But remember the food pyramid where the base of the pyramid is what you're supposed to do the most of?
[00:11:49] [SPEAKER_00]: We're not saying the top of the pyramid is the best necessarily.
[00:11:52] [SPEAKER_00]: It's more of what the foundation versus the capstone, right?
[00:11:57] [SPEAKER_00]: The foundation is your physical health.
[00:12:00] [SPEAKER_00]: So staying in shape, eating well, trying not to be hooked on vices and whether that's sugar, alcohol or all types of other stuff out there.
[00:12:11] [SPEAKER_00]: Even just screen time and video games is great.
[00:12:15] [SPEAKER_00]: So food, water, your health.
[00:12:20] [SPEAKER_00]: That's the foundation.
[00:12:23] [SPEAKER_00]: Listen, you don't have any gold and silver and you don't have any Bitcoin, but you are able to, you know, you're in great shape.
[00:12:33] [SPEAKER_00]: You have great water filtration.
[00:12:34] [SPEAKER_00]: You got multiple ways to give food and you're just, you know, really well trained.
[00:12:39] [SPEAKER_00]: You practice your skills.
[00:12:41] [SPEAKER_00]: That's invaluable.
[00:12:42] [SPEAKER_00]: That's way more important than gold, silver or Bitcoin really, especially the more extreme the SHTF is like literally if it's EMP,
[00:12:51] [SPEAKER_00]: everything blows away then Bitcoin's worth nothing.
[00:12:54] [SPEAKER_00]: Gold and silver probably are not worth much until or unless humanity recovers.
[00:13:00] [SPEAKER_00]: Like after they come out of the dark age, gold and silver might be worth good, but I don't think people really care much about that if they're eating dogs in the street.
[00:13:07] [SPEAKER_00]: Right? So I'm well aware of this and I put most of my preps in time and energy and money into the foundational and maybe that intermediary is more of
[00:13:21] [SPEAKER_00]: tool.
[00:13:22] [SPEAKER_00]: So again, that's the base of the pyramid.
[00:13:24] [SPEAKER_00]: The kind of the intermediary or middle part of the pyramid is more of tools.
[00:13:30] [SPEAKER_00]: So firearms, a bug out vehicle, bug out bag, electric bike, cool stuff that you don't absolutely need to have, but man, you would wish you wanted, you know, batteries, light sources,
[00:13:44] [SPEAKER_00]: a bunch of good firewood, you know, spend your time, whether it's your money or your physical labor to stack some firewood.
[00:13:52] [SPEAKER_00]: You know, they could even say that's kind of like the base of the pyramid.
[00:13:57] [SPEAKER_00]: And then above that is kind of your hey, you need to have some cash on hand if you need to get out of dodge.
[00:14:02] [SPEAKER_00]: People still accept cash for a little while.
[00:14:07] [SPEAKER_00]: Don't be crazy into debt.
[00:14:09] [SPEAKER_00]: I mean, okay, there's the theory out there that if you knew the banking system was going to collapse in three weeks,
[00:14:13] [SPEAKER_00]: then you would take out every freaking loan you possibly could right now because no one's going to build paying back.
[00:14:18] [SPEAKER_00]: So it won't matter.
[00:14:19] [SPEAKER_00]: It's true, but do that at your risk.
[00:14:22] [SPEAKER_00]: I ain't doing that.
[00:14:23] [SPEAKER_00]: Definitely not right now.
[00:14:24] [SPEAKER_00]: But anyway, point is if you're responsible financially have some cash backup emergency cash and maybe some emergency power generation,
[00:14:36] [SPEAKER_00]: some of that gold and silver potentially.
[00:14:39] [SPEAKER_00]: And then if you have all those pretty well put together, I've always said, hey, throw 510 20% into Bitcoin.
[00:14:51] [SPEAKER_00]: Don't add to your 401k screw that.
[00:14:55] [SPEAKER_00]: You don't want to support these banksters and the S&P 500 and the Dow and all these globalist evil globalist corporations.
[00:15:04] [SPEAKER_00]: Do you?
[00:15:06] [SPEAKER_00]: Do you really want to?
[00:15:08] [SPEAKER_00]: I'll think so, man.
[00:15:10] [SPEAKER_00]: So why don't you just, you know, put some of that in Bitcoin?
[00:15:14] [SPEAKER_00]: Well, if you've done it, well, first of all, I know some of you have.
[00:15:18] [SPEAKER_00]: So glad you have.
[00:15:19] [SPEAKER_00]: If you haven't yet, I'm not trying to shame you.
[00:15:22] [SPEAKER_00]: It's the opposite.
[00:15:23] [SPEAKER_00]: Actually, you still have a good chance to get in my opinion.
[00:15:26] [SPEAKER_00]: I still think Bitcoin could double by this time next year and be at 120 K.
[00:15:31] [SPEAKER_00]: So you'll wish you'd gotten in at 60 or 70 or 80 K if he gets to 120.
[00:15:35] [SPEAKER_00]: But I'm also saying being financially responsible, not just like piling in all right now because it could lose 20, 30, 40% if there's a stock market crash before.
[00:15:47] [SPEAKER_00]: In my opinion, people would go back to Bitcoin.
[00:15:49] [SPEAKER_00]: It would skyrocket to all time new levels.
[00:15:53] [SPEAKER_00]: Bitcoin's only all value.
[00:15:55] [SPEAKER_00]: Bitcoin's only about 15%, I think, of gold right now.
[00:16:02] [SPEAKER_00]: So if Bitcoin was the value, if all the money in the world that's invested in gold right now, if the equivalent amount was in Bitcoin, Bitcoin would be up like 10 X by now.
[00:16:13] [SPEAKER_00]: So even if it was an equal peer of gold, we're looking at $400,000, $500,000, $600,000 Bitcoin.
[00:16:21] [SPEAKER_00]: It's not too late to get in.
[00:16:23] [SPEAKER_00]: But again, be responsible with it.
[00:16:25] [SPEAKER_00]: I'm not selling any of this either, man.
[00:16:26] [SPEAKER_00]: I'm not even making a penny off this.
[00:16:28] [SPEAKER_00]: So definitely don't sue me.
[00:16:33] [SPEAKER_00]: But yeah, I think that's about all I had to say today.
[00:16:36] [SPEAKER_00]: It's just we're in an economic depression, absolutely, in real terms because of inflation and the debt.
[00:16:43] [SPEAKER_00]: It's the only reason there's even close to a small pennance.
[00:16:49] [SPEAKER_00]: Pittance, not pennance, pittance, of GDP growth and same with employment.
[00:17:02] [SPEAKER_00]: So find ways to prep.
[00:17:06] [SPEAKER_00]: I still think if you got a little bit of cash to spare, so Bitcoin would be good, but definitely the first $10,000 of your preps should be the base of that pyramid, in my opinion.
[00:17:22] [SPEAKER_00]: It's at least 10K.
[00:17:25] [SPEAKER_00]: Oh actually, one last thing.
[00:17:26] [SPEAKER_00]: What do you do with Bitcoin?
[00:17:27] [SPEAKER_00]: Let's say you made some money on it.
[00:17:29] [SPEAKER_00]: What do you do?
[00:17:29] [SPEAKER_00]: Well, first off, I don't sell mine.
[00:17:31] [SPEAKER_00]: So I don't have to pay the IRS taxes because it's only on realized gains.
[00:17:36] [SPEAKER_00]: I don't sell mine.
[00:17:38] [SPEAKER_00]: Very minimal amount if any and report that on your taxes.
[00:17:42] [SPEAKER_00]: You know, you don't want the IRS messing with you for sure.
[00:17:46] [SPEAKER_00]: And I ain't messing with them either because I know I'm being recorded right now.
[00:17:49] [SPEAKER_00]: So hey IRS, I'm up to date and I will be if and when I ever sell mine.
[00:17:54] [SPEAKER_00]: But why would I sell it back for US dollars?
[00:17:58] [SPEAKER_00]: I'm trying to get rid of US dollars.
[00:17:59] [SPEAKER_00]: It's fiat currency.
[00:18:00] [SPEAKER_00]: It's a total Ponzi scheme, central bankster scheme.
[00:18:04] [SPEAKER_00]: What you can do instead is turn it into preps, turn it into a homestead, turn it into gold and silver or even maybe you'll meet some people that like Bitcoin and you can exchange with them.
[00:18:17] [SPEAKER_00]: Like what I do with NBC guy, generally I do give him fiat currency when I buy things from him.
[00:18:23] [SPEAKER_00]: But I've given him silver in the past.
[00:18:25] [SPEAKER_00]: I don't think he's interested in accepting Bitcoin, but maybe I could pay him in some Bitcoin.
[00:18:31] [SPEAKER_00]: But you never know, maybe you want to buy a new bug out truck, you buy it used in.
[00:18:36] [SPEAKER_00]: Maybe there's a small chance that person would accept Bitcoin.
[00:18:39] [SPEAKER_00]: It's way cleaner, way less fees, way faster, way more transparent.
[00:18:47] [SPEAKER_00]: I'm telling you.
[00:18:48] [SPEAKER_00]: The banks, everyone asks what is Bitcoin backed by?
[00:18:51] [SPEAKER_00]: What does it serve as a function society?
[00:18:55] [SPEAKER_00]: It replaces the banks.
[00:18:56] [SPEAKER_00]: It replaces the banks with just math and pure computational power.
[00:19:04] [SPEAKER_00]: But always diversify.
[00:19:06] [SPEAKER_00]: Always remember what are you going to do if the power goes out?
[00:19:11] [SPEAKER_00]: I got to remind myself that too sometimes.
[00:19:13] [SPEAKER_00]: So it's going well on that front.
[00:19:17] [SPEAKER_00]: The rest of the news is pretty crappy these days, but I'm going to wait until next week when I get back on with Future Dan.
[00:19:23] [SPEAKER_00]: We'll go through the whole dashboard, talk a little bit more after report of Gotham Get Out.
[00:19:32] [SPEAKER_00]: Then we'll hit the news.
[00:19:35] [SPEAKER_00]: And of course, if Nader decides to go into Ukraine, I'll do a little special broadcast.
[00:19:41] [SPEAKER_00]: Don't forget that that looks like that's happening at this point.
[00:19:45] [SPEAKER_00]: I don't know what hopefully it doesn't.
[00:19:46] [SPEAKER_00]: All right. I'll stop rambling, folks.
[00:19:49] [SPEAKER_00]: I'll be back next week.
[00:19:51] [SPEAKER_00]: Be sure to check out the rest of PBS.
[00:19:53] [SPEAKER_00]: Great shows.
[00:19:55] [SPEAKER_00]: I'll catch you later.
[00:19:57] [SPEAKER_00]: Bend the breakers.
[00:19:59] [SPEAKER_00]: Sign it off.