MacroVoices #467 Jim Bianco: The Mar-a-Lago Accord

Zoltan is well respected ??

Excellent talk! Thanks Jim.

bianco has no fucking idea whta the fuck he is talking about

The hundred year, no interest debt swap is just a debt default. It will destroy the USD's status as global reserve currency and destroy the exchange value of the USD. The cost of importing all the stuff we don't make will skyrocket.

Credit Suisse????? Wow that is a bit detrimental on your history. Wooosshhh

Where was the U.S. many times before. Russia in Ukraine, Red Line in the Sand. Can't count on Uncle Sam.

Holy sh.t this commutator is a radical BS stupid A…H…, YOU are NOW a TARGET of TRUMP con grants for making yourself a target of MAGA which rules the USA for the next century or two, people like you will pay dearly

Just brilliant

The purpose of our global security arrangements is to enforce peace. That's it, and it has worked. There were two world wars in the last century, but there hasn't been once in 80 years. This role was originally envisioned to be a function of a world body like the League of Nations and then the U.N. The League of Nations failed in part because we didn't ratify it, the U.N. was judged to be failing at the start of the Cold War due to communist subversion. So what's being proposed now is a global defund the police. But that is only one tack the administration is taking. The other is to inflate our way out of debt, specifically wage inflation. Today Trump backed off creating tariffs and instead gave himself broad negotiating range to convince other countries who have trade imbalances with us to lower theirs. The aim is to increase our exports, which would increase demand for U.S. goods and raise wages and profits, without increasing prices on imported goods. Trump also wants lower interest rates. That would also cause inflation, which he wants to counter with lower energy prices. He wants higher wages, higher growth therefore higher tax revenues, along lower goods and energy prices. Same thing we did after World War 2. You can expect him to tack back and forth between that strategy and a reduced roll as global police agent, which he hopes to address the need for with negotiated peace settlements in Eastern Europe and the Middle East.

You don't seem to realise that every country has a NATIONALISTIC far right, no one wants to be an American, or support American interests before their own nations ... You will be isolated and ignored

He said 8 tons I think it is 8000 tons

Trump is nuts. He is a corrupt convicted felon and is a fraudster and sexual predator. But more disconcerting is his lack of coherent thoughts, his penchant for retribution, his lack of morality and his lack of knowledge of history. He is upending everything but to the detriment of the US and it will never recover. I live in Canada and I can tell you that he is changed Canadians opinion of the US for at least a generation. Everyone I know will not travel to the US and refused to buy anything made in the US unless there are no other options. Look at what is happening to Tesla around the world as a result of Musk’s antics. But Trump is the President for 4 more years and the world order will forever change. Those who supported Trump as a convicted felon who tried to overturn the previous election will pay for their ignorance

Using blackmail as a political tactic is never a sound long-term strategy...

! am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good stock recommendation on great performing stocks will be appreciated!!

Jim seems neutral supporting fascism as long it solves the debt problem

The government is dictating our bug companies already are you serious

Someone should educate Jim on Triffins dilemma

Ah yes, the stable genius spent the last 4 years putting together a brilliant plan. Really Jim? Your credibility is going down the tubes.

U.S. A MAFIA COUNTRY
TO SIMPLIFY: THE UNITED STATES IS A MAFIOUS COUNTRY. LIKE THE MAFIA TELLING A PIZZERIA ''YOU ARE GOING TO USE OUR CHEESE ONLY OR YOUR PIZZERIA WILL FLAM '' or ''YOUR BAR NEEDS PROTECTION; WE PROVIDE IT TO YOU FOR 25% OF YOUR INCOME; IF YOU REFUSE YOUR BAR WILL BURN UP ''AMERICANS HAVE TOLD SAUDI ARABIA AND ARAB COUNTRIES, ''YOU WILL ONLY ACCEPT DOLLARS AS PAYMENT FOR YOUR OIL OR YOUR COUNTRY WILL BE DESTROYED'' AND EVERY TIME 'A COUNTRY ATTEMPTED TO SELL ITS OIL AND GET PAID BY CURRENCY OTHER THAN DOLLAR, THE COUNTRY WAS DESTROYED AND THE GOVERNMENT OVERHANDED: 1957 THE DEMOCRATICLY ELECTED IRANIAN GOVERNMENT IS OVERTHROWED AND THE PRIME MINISTER KILLED ( CIA ARTWORK ) , IRAQ: SADAM HUSSEIN KILLED AND COUNTRY RAVAGED; LYBIA: KADAFI KILLED COUNTRY RAVAGED; SYRIA: COUNTRY RAVAGED BUT THE RUSSIANS SAVE THE COUNTRY AND THE LIFE OF THE PRESIDENT. RUSSIA IN UKRAINE MARKS THE BEGINNING OF THE END OF THE WORKS OF THIS MAFIA THAT ARE THE UNITED STATES IN THE WORLD. THE MONROE DOCTRINE IS ALSO A MAFIO WORK, EXACTLY AS THE MAFIA DOES WHEN IT SAYS YOU CANNOT SELL YOUR CHEESE TO THESE PIZZERIAS BECAUSE IT IS ITS TERRITORY. THE UNITED STATES HAS BUILT ITS WEALTH ON THEFT, PILLAGE, MURDER AND MAFIA ACTIONS. IT IS A ROGUE, MAFIOUS AND TERRORIST STATE.

AS LONG AS NATO EXISTS, RUSSIA WILL HAVE TO REMAIN IN A WAR POSITION. THIS IS NOT THE TIME TO RELAX THE PRESSURE ON NATO. PUTIN MUST UNDERSTAND THAT THE ANGLO-AMERICANS WILL CONTINUE TO WEAKEN RUSSIA BY ANY MEANS. WITH TRUMP, THIS IS ONLY A TEMPORARY CEASEFIRE. MAKE NO FOOL OF IT. THE NEOCONS ARE STILL IN THE DEEP STATE WAITING FOR THE RIGHT MOMENT TO RESUME HOSTILITIES.

Why would Macron ever have to pay Putin, let alone Xi, for military protection money? The only thing France ever gotten from Putin may be cheap gas, and from China cheap shoe and cheap cars. Like serious, who's going to invade France?! Same with Germany! Maybe the three Baltic states plus Finland might want to pay up... But are they really going to come up with $35-Trillion?

Also, after WW2, the only instance of military help actually happened in reverse, where the French helped (stupidly) to invade Iraq and Afghanistan after 9-11. That was a mistake for both the US and France.

Jim is just so good, really appreciate getting to hear his thoughts.

Americans seem very excited about their neo fascist president, who will just accelerate their decadence. Look at life expectancy, this is the most accurate indicator of decadence.

Great show Jim and Eric very intelligent discussion. I think the only option will be to use Modern Monetary Theory MMT.

Seems unfair to focus solely on the free security that the US has provided - what about all the inflation that the US has exported via the abuse of its reserve currency? How much has that cost the world? The US has been living beyond its means for decades - at whose expense??

The problem with the America debt and deficit today is that wealthy people no longer want to pay taxes. During the period of 1953 to 1973 GDP grew 3.6% and productivity was 2.5% the highest it's been, GDP and productivity has not been that high since with the exception of the internet and communication revolution of the late 90s and early 2000s productivity was 2.7% but apart from that GDP and productivity has never been that high. Yet the top marginal tax rate was 91% throughout most of that period only falling to 70% at the end of that period. Debt to GDP for 12 of those years was less than 1% and only got into the 2% range for three years and for four years the government ran a surplus. Why did DGP and productivity grow so robustly with the top marginal tax rate so high??? Because those at the top knew they could not keep it, so they pumped it back into their businesses buying new capital for their workers to use and giving it to their workers in the form of higher wages. Workers having more and newer capital were more productive. Workers having higher incomes spent more and increased demand growing GDP. Today with lower marginal tax rates the wealthy can keep the money and that's what they do they keep it, Corporate American has outsourced and off shored production to cut wages and waste disposal cost. All the while convincing America that they needed to have their taxes cut to stimulate the economy. Then they took their tax reductions and moved production offshore. Today instead of raising government tax revenue from the wealthy they borrow the money from the wealthy 90% on average of asset wealth including government debt is owned by the top 10% of wealth owners. Today the government does not tax the upper income but borrows the money from the upper income and then pays them interest to borrow the money from them.

The only way out of this is Modern Monetary Theory MMT. I see no other way out of this government debt. Raising taxes will recess the economy it will have less of a negative effect by raising taxes on the upper income, but they have too much power and would never allow it to happen. Rasing taxes on the working class would crash the income consumption driven economy. Cutting government spending will cause a recession. Every dollar of government spending is a dollar in someone paycheck. The current doge letting 2 million people go will have a negative impact on the economy and will probably cause or at the very least contribute to a recession by the end of this year or early next year. The uncertainty of 'who gets a tariff today" is causing uncertainty and hesitancy in the US economy and causing a lack of investment. The two combinations present the very Strong potential for recession by the end of this year or early next year. The only thing that can prevent this would be a working-class tax cut for anyone making 200,000 or less a year. Workers consume what they earn, and owners earn what they consume.


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Why would they revalue Au to spot? Think way bigger. A $9.9T reduction in the debt brings debt-to-income down to 90 percent (Reinhardt and Rogoff). $9.9T / 3,400 MT Au = $37,800 / TOz Au. Now trump-size that. I predict Au at $75,000 / TOz. Happy Fourth Turning, read Your Mackay.

any country not dumping their US treasuries and buying gold is f'd.

one of your best interviews -

If Trump is serious about Canada being the 51st state,why not offer all Canadians US Citizenship and offer to exchange CAD on par with USD at the same time?

I'm sure many Canadians would happily take Trump up on the offer. 😎

JIm, this conversation was great. My name is Michael Farris and this is my podcast. I recently posted a conversation with Matt Smith discussing the Mar-A-Lago accord. If you have any availability love an opportunity to speak with you further on my show. Any time allowed would be greatly appreciated.

awesome work Jim.

Instead of owning the companies they could own ghost shares.

Absolutely bar sh*t crazy

This was the best, simplest and yet most intelligent analytics..

Brilliant discussion! 👏🏽

Intelligent, logical , clear thinking, that's what about you .
But about my beloved Donald (aka Trump ) it's not like that.
His type is ESFP, in some sources he is called Napoleon, for similarity in behavior. He likes scale, thinks broadly, emotionally, although he likes to SHOW himself very logical and strict . Trump as ( ESTP ) strong point is entertaining to the public, he lives for it !
But when it comes to numbers and analytics, he quickly fades away . He searching of people who would do this routine for him. He needs trusted people who are very knowledgeable in economics, but who do not hurt his ego, everything should be done in a way that he thought of it himself.

Pretty sure I could fit 8t of gold under my bed 😂. Maybe 8 THOUSAND

First informative interview I’ve listened to in a while. I’ll have to think and study more about this big thinking that Trump is pushing.

Great conversation. Yes our national debt is a crisis. Trump is now talking about a $5,000 Doge dividend stimulus check. Come on man.

Bianco, the trump shill

Love you Jim. This is complete nonsense. Any conflict the United States has entered into during the Cold war was of our own doing and in our interests, fighting communism. No other action in my mind other than possibly the Bosnian war, have we come to the aid of another country in their interests. The first Iraq war, oil. The second Iraq war, nonsense. I don't see how the world is beholden to us for any military action or support. If you're talking the straits of Hormuz, those are naval patrols with our partners, not the US by itself. This whole Mar-A-Lago paradigm, is nothing but a joke. Other nations will laugh. We are bankrupt, in more ways than one.

The absolute number of the National Debt doesn't matter. The ration of the debt to GDP does, totally. The US is bordering on real trouble but not yet in full on crisis. The tariffs are a done deal now, they do more, they cause trade wars that can end in real wars.

this is ridiculous. What the US does is not protect other nations, but their own domination over everyone. why would other states pay for this?

Talk about wealth inequality, increasing numbers of billionaires, who pays taxes, and who does not.

Why are you guys spending so much time on 12 billion dollars of btc!!!! How many hours of current deficit burn does that equate to???

Sovereign Wealth fund = a fund holding the results of government investment in America from small business administration loans, University funding for research projects, possibly some shared data and effort, like Army Corps of Engineers helping estate fix something, but all that investment could be translated into an equity stake or a legal Revenue sharing agreement or some other way to monetize where government money goes. We're going to need a lot of small businesses to start up the next two or three years and if the government has a small cut off the top to rebuild the small business administration fund IE Sovereign wealth fund component then we're ahead in the long run

There is a plan, but the problem with the plan is, that it's insane. Completely insane. They're bringing linear equations to complex systems. It's nuts. He made sure everybody doesn't believe in American protection anymore, why would they pay for it then?

It seems like Americans have no ability to think critically. You are drunk on your own propaganda.

Do you honestly believe that the US government has built the largest military on the planet out of the goodness of their heart? Have they done this to provide peace to the world for some heroic or altruistic purpose?

No, of course not. They do this to exert power and influence on other countries. You continue to spend more than you earn over several decades. The rest of the world will not pay for your debt.

No one trust you, and certainly no one believes you.

I dumped all my long term treasuries and added more gold to my brokerage account. We are in a financial clown car headed for a cliff, and we are giving the middle finger to all our allies on the way down. I think Trump is a russian asset hell bent on destroying our country.