Guest Host, Alex McFarland, is joined by Paul Kamenar, Lead Counsel for the National Legal and Policy Center and Christian Biggs, CEO of Hard Asset Management, Inc.

Transcribed with OpenAI Whisper (base.en). Timestamps are approximate. Lightly cleaned for readability; quotations from on-air callers may include filler words. Use the audio player above for the authoritative recording.

1. 0:00Darkness is not an affirmative force.
2. 0:02It simply reoccupies the space vacated by the light.
3. 0:06This is the Hamilton Quarter on American Family Radio.
4. 0:10It should be uncomfortable for a believer to live as a hypocrite.
5. 0:15Delivery people out of the bondage of mainstream media.
6. 0:18And the philosophies of this world.
7. 0:20God has called you and me to be His ambassador.
8. 0:23Even in this dark moment.
9. 0:26Let's not miss our moment.
10. 0:28and now, The Hamilton Corner.
11. 0:33Well, hello everybody.
12. 0:34Alex McFarland-Tear, you're listening
13. 0:36to the American Family Radio Network
14. 0:37and I have the privilege often for sitting in
15. 0:41for attorney, pastor, and journalist Abe Hamilton III.
16. 0:45And today is one of those days.
17. 0:46We've got a great show for you.
18. 0:49Later on in the show, we will talk with Christian Briggs
19. 0:53about economics and the analysis of Trump's economic plans.
20. 0:58But right now, we're going to talk to attorney Paul Caminar.
21. 1:03And there's so much in the news.
22. 1:04My goodness.
23. 1:06It seems like just days ago I was in Milwaukee
24. 1:08at the Republican National Convention
25. 1:10and I had the privilege of speaking to youth.
26. 1:13Many of the teens that were there, the teens,
27. 1:17and many of the parents were delegates.
28. 1:20And Charlie Kirk and myself, Charlie Kirk of Turning Point,
29. 1:22USA.
30. 1:23And my plane had no longer, no sooner landed back in North Carolina than it was rumored
31. 1:31that Biden would leave the race.
32. 1:33Kamala Harris became the nominee.
33. 1:35It was an incredible campaign, very vitriolic, $1.4 billion the Harris campaign spent.
34. 1:44And Trump won by 10 million votes.
35. 1:46We all know that.
36. 1:47It seems like not only every day, but every hour of every day has been just full of news.
37. 1:52But the news now, one of the most predominant stories, is the pardon of Hunter Biden by President
38. 1:59Joe Biden.
39. 2:00Now, on six occasions, President Biden said that he would not give a presidential pardon
40. 2:06to his son Hunter.
41. 2:07And Press Secretary for the White House repeatedly with increasing levels of emphasis said there
42. 2:14would be no pardon, and yet there was a pardon.
43. 2:18So many people, even on the left, are saying that this is not good, this is not only bad
44. 2:25for the legacy of the Biden presidency, whatever that might be, but just for the rule of law
45. 2:31itself.
46. 2:32And so to help us understand this, we've had several conversations with him over the last
47. 2:37year plus Paul Kamenar, a respected attorney, political analyst, and he is our guest right
48. 2:43now.
49. 2:44uh... mister camarra thank you for making time to be with us and before we
50. 2:48dive into some headlines and uh...
51. 2:51hunter biden story
52. 2:52give us your website and tell us about the work you do
53. 2:54paul camar yeah great thank you yeah i'm the elite council of the national legal
54. 3:00and policy center
55. 3:02and uh... our website is n l p c
56. 3:06dot org or g and l p c dot org
57. 3:10And we are a small ethics watchdog group here in the Washington, D.C. area that tries
58. 3:17to keep the people here in D.C. and on Capitol Hill and others, honest, we've filed ethics
59. 3:24complaints against the likes of AOC and Senator Schumer and file IRS complaints against like
60. 3:33Black Lives Matter and F.E.C. complaints.
61. 3:38So, and we've been following the Hunter Biden case for years, and on our website you'll
62. 3:46see some postings we did, gosh, four years ago where we asked the Justice Department
63. 3:53to go after Hunter Biden for violating the Foreign Agents Registration Act, meaning he
64. 4:00was acting as a foreign agent, getting all this millions of dollars from Ukraine, to
65. 4:06Reesma oil company and China energy company.
66. 4:11It's so yeah, check out our website
67. 4:14and you'll see all the good work that we do.
68. 4:17Well, yes, you do good work.
69. 4:18And I had to smile when you said ethics and Washington DC
70. 4:23and keeping the people there honest.
71. 4:26I thought, wow, that's a rather ambitious job.
72. 4:30God bless you, sir.
73. 4:31But so I'm going to cue this up.
74. 4:34When you think about Hunter Biden, sad, and look, I take no joy in this, but drugs, multiple
75. 4:44affairs, restraining orders, guns, China.
76. 4:49And so here's how I'll throw it to you, Attorney Caminar.
77. 4:54Enter the big guy.
78. 4:56Who is the big guy in terms of Hunter Biden?
79. 5:00Right. The big guy is his father, Joe Biden, and we got that information from Hunter Biden's laptop.
80. 5:10This is the laptop that was discovered back in 2020, and which during the debate between Joe Biden
81. 5:24and Donald Trump for the 2020 election when this information was coming out. Joe Biden,
82. 5:31his first big lie of his candidacy was saying, oh, that laptop is rushing this information. That's
83. 5:39not legitimate in my son's laptop. Well, and then the media covered that up. So the big guy was
84. 5:47implicated very much on the laptop, meaning there was email saying how Hunter Biden was
85. 5:54getting lots of money from these foreign sources and he told his business partners that we have
86. 6:02to keep 10% for the big guy.
87. 6:07So that's where that big guy comes in.
88. 6:12And that's why it's no surprise that Joe Biden was giving a pardon to his son.
89. 6:21Yeah.
90. 6:22Yeah.
91. 6:23Well, family looks after family, don't they?
92. 6:26So from what all, this might sound like a simplistic question, but how extensive is
93. 6:33this pardon?
94. 6:34i mean is hunter biden exonerated from
95. 6:37you know everything
96. 6:38of which he has been accused in recent years uh...
97. 6:41and you know will
98. 6:43uh... will he face any prosecutions moving forward
99. 6:48that's a good question uh... this this part of the was
100. 6:52uh... a a uh... a thing part of part of because of that only
101. 6:57uh... parting for his to violate criminal violations
102. 7:01the gun charge here in Delaware
103. 7:03and the tax charges in california for which he played guilty
104. 7:08uh... so not only did uh... job i did part of the sun for those two crimes
105. 7:13but he gave him what's called a blanket pardon
106. 7:16for any and all crimes that he may have committed
107. 7:21from january one two thousand fourteen
108. 7:24until december one
109. 7:27uh... two thousand twenty four so that's
110. 7:29ten years eleven months about two years i mean that eleven years worth of
111. 7:34of crimes that
112. 7:35that he may have committed so
113. 7:37so he's off to hook
114. 7:39on all that and there are a lot of things
115. 7:42that he could have been charged with
116. 7:44uh... uh... if if he didn't get the part in such as
117. 7:49uh... all money laundering
118. 7:51getting these millions of dollars that he
119. 7:54put through shell companies and
120. 7:57and distributed to
121. 7:59ten biden family members
122. 8:02over the years including
123. 8:04uh... uh... his uncle jim biden who's job by the brother
124. 8:10uh... and and job by the himself
125. 8:13others some funny business with money going there
126. 8:16so these money laundering
127. 8:18charges were not brought by the prosecutor
128. 8:22uh... nor worse of the
129. 8:24tax violations
130. 8:27from two thousand fourteen
131. 8:29to two thousand seventeen
132. 8:32uh... involving
133. 8:34the money he got from barista but which is the Ukrainian oil company
134. 8:39and so
135. 8:40uh... how to buy a better break
136. 8:42from the get-go by not even being charged with that
137. 8:45from the beginning and just to make sure that doesn't come back to haunt them
138. 8:50this by a part of my job i didn't
139. 8:52covers those violations
140. 8:55as well
141. 8:56uh... so uh...
142. 8:58is also
143. 8:59uh... referral
144. 9:01from the house oversight committee to the judge department last year
145. 9:05that both hunter biden and jim biden
146. 9:08lied under oath
147. 9:10to the committee and thereby committed perjury
148. 9:14so those that they would be uh...
149. 9:16but they would be shielded from any charges of perjury
150. 9:20uh... it's right that's right
151. 9:23that's how about
152. 9:25so that brings me to the next issue like well wait a minute
153. 9:28how about you buy them how about the other family members how about Joe Biden
154. 9:32himself
155. 9:34i predicted that uh...
156. 9:36uh... but on the day he leaves office
157. 9:40job by it's going to part in all his family members especially his brother
158. 9:44jim
159. 9:45for many criminal prosecution
160. 9:49you know he may even try to part of himself
161. 9:52that's never been done before
162. 9:54uh... it's not clear where they're under the constitution
163. 9:57a president can't constitutionally part of himself
164. 10:01but now that that that he's part in
165. 10:04his son hunter
166. 10:06with this blanket pardon
167. 10:09uh... the new justice department
168. 10:11under pam bondy
169. 10:13new attorney general
170. 10:15and all these uh... house committees can bring hunter biden
171. 10:20before grand jury
172. 10:21up to congress
173. 10:23under oath
174. 10:24and grill them about
175. 10:27all the shenanigans and money's and
176. 10:29so forth going to his dad and i was dead
177. 10:32was basically uh...
178. 10:34helping him uh... to curry favor with these foreign interest
179. 10:39and and what is that hunter can't say
180. 10:41wait a minute i played the fifth amendment i refuse to answer other grounds
181. 10:45that might incriminate me
182. 10:47sorry honey you can't have said that anymore because you got a full-party
183. 10:51from your dad
184. 10:53and therefore
185. 10:55uh... you cannot invoke
186. 10:57your first amendment right not to testify so this
187. 11:00blanket part in a comeback to hollum
188. 11:03if if in fact
189. 11:04uh... uh... president by then
190. 11:07just part of them for the two crimes only
191. 11:10then under could
192. 11:12uh... invoke his first amendment right if they wanted to get into
193. 11:16other things about the money laundering and so forth and so on
194. 11:20but uh...
195. 11:21now now it's uh... open season
196. 11:25having a hundred by the test of fire
197. 11:28you know uh...
198. 11:29let me ask you this is there any way that in partening the sun
199. 11:35the father incriminates himself
200. 11:38because
201. 11:39uh... uh... part in implies admission of guilt right
202. 11:44well no yeah uh... uh... part in uh...
203. 11:48implies admission of guilt of the person being part of the person who's
204. 11:51being part in
205. 11:53basically
206. 11:54admits that yes
207. 11:56i'm guilty
208. 11:58all the crime for which you're parting me
209. 12:01uh... but it's only runs to
210. 12:03to the hunter the person being part of it
211. 12:06it doesn't mean that that
212. 12:08job by the himself
213. 12:11uh... admits that he too
214. 12:13committed any crimes but as i said earlier
215. 12:17uh... that can now be
216. 12:19further investigated
217. 12:22uh... once uh... the new
218. 12:24the department gets in place
219. 12:26to see if in fact
220. 12:28job by himself
221. 12:30uh... is guilty
222. 12:32of uh... some of these like uh... money laundering
223. 12:36problems and crimes
224. 12:39so so what's been like the uh...
225. 12:42response of the larger legal community
226. 12:48well uh... even democrats have said that uh... politically speaking this was
227. 12:54uh... not a good day for the legacy of joe biden because
228. 12:58he said that you said earlier half a dozen times promise
229. 13:02i will not part of my son
230. 13:04uh... so he went back on his word
231. 13:06on that
232. 13:08and uh... uh... you know his reasons for
233. 13:11for doing that night so what change
234. 13:14uh... it really did nothing change i mean he said that
235. 13:17all this was the political prosecution
236. 13:20uh... well
237. 13:22Hunter Biden and his attorney has been saying that for a year or two that this whole thing
238. 13:27has been a political prosecution, by the way, it was not.
239. 13:32The bottom line is that was the complaint from the very beginning.
240. 13:36So Joe Biden, why are you raising that reason now?
241. 13:41It doesn't make any sense.
242. 13:44Number two, that reason doesn't hold any water because as I said, Hunter got a break by not
243. 13:52being charged with other crimes for an agent's registration act, etc., etc., money laundering.
244. 14:00So it wasn't a selective prosecution.
245. 14:03And then you have Joe Biden also said in his statement yesterday, oh, in that tax case,
246. 14:13that was just my son.
247. 14:15He paid his taxes late, but he paid it all back.
248. 14:18So what's the big deal?
249. 14:20hello it wasn't just a matter of them
250. 14:23uh... not paying uh... the taxes
251. 14:26someone point two million dollars late
252. 14:28the invaded
253. 14:29those taxes
254. 14:31by falsely taking
255. 14:33business deductions
256. 14:35that were uh... false and illegal
257. 14:39for example i'll forgive me a whole that thought we've got to take a break here
258. 14:42alex mccarle along with attorney
259. 14:44paul kennar of the national legal and policy center their website
260. 14:48nlpc.org nlpc.org.
261. 14:53More about Hunter Biden's pardon
262. 14:56and more going on after this break.
263. 14:58Stay tuned.
264. 15:00How much control, unfortunately,
265. 15:03the executive office does have to direct a lot of
266. 15:06these procedures in terms of amnesty
267. 15:07and what they can do, even though Congress needs
268. 15:10to step it up and we know constitutionally they should be
269. 15:12making sure that the law reflects the American position,
270. 15:16law enforcement is the executive branch.
271. 15:19And if you're not enforcing the law,
272. 15:20then the law is merely just on paper.
273. 15:24Jenna Ellis in the morning, weekdays at 7c,
274. 15:27on American Family Radio.
275. 15:29Shining light into the darkness,
276. 15:37this is the Hamilton Corner, an American Family Radio.
277. 15:42Well, he has spoken for the American Bar Association.
278. 15:45He's been a guest on Fox News with Tucker Carlson,
279. 15:49Good Morning America, Newsmax.
280. 15:52very, very impressive resume.
281. 15:54His name is Paul Caminar.
282. 15:56He's the NLPC Counsel, the National Legal and Policy Center.
283. 16:01And hey, I wanna say thank you,
284. 16:05not only for being with us today
285. 16:06and many times you've given your time
286. 16:09to be on various programs with us,
287. 16:11and I appreciate that attorney Caminar,
288. 16:13but I just appreciate your service to our nation.
289. 16:18to our nation. You worked alongside people like Barry Goldwater. If we could digress
290. 16:24a moment for the news of the day, just over the decades, have you seen Washington change
291. 16:33if at all? Maybe it hasn't changed. But what's the Washington of 2024? How is that different
292. 16:41from Washington three or four decades ago.
293. 16:46That's a good question.
294. 16:49I mean we've had scandals in the past with graft and corruption with Watergate, with App
295. 16:59Scam and others like that.
296. 17:02But what's I think a different basically atmosphere and so forth in terms of where we
297. 17:12What we are now is that there's been this weaponization of the Justice Department in the last
298. 17:20few years during going after Donald Trump and Republicans and going after conservatives.
299. 17:31You know, you had the Merigarland Justice Department, FBI going after parents at school board meetings
300. 17:38objecting to some of the curriculum that they're feeding our youth and calling these people
301. 17:45domestic terrorists going after enrichment here.
302. 17:51Catholics who also were complaining about some of this stuff.
303. 17:57So you see the weaponization of the Justice Department along those kinds of lines.
304. 18:04used to be uh... uh... basically a fair
305. 18:07justice department uh...
306. 18:09where they would call the ball from strikes evenly
307. 18:12uh... and and also the political atmosphere
308. 18:16used to be cooperative under uh...
309. 18:18ronald reagan every member well him
310. 18:20working with uh... speaker of the house tip o'neill
311. 18:23uh... the the liberal
312. 18:25uh... democrat
313. 18:27uh... they would uh...
314. 18:29you know have the differences but at the end of the day they could
315. 18:32sit down and have a beer and be cordial with one another and get things done.
316. 18:38There are a lot of good things back in those days that were done in terms of a lot of different
317. 18:43policies that affect both sides and they were able to work together.
318. 18:48Now the environment is very polarized and it's too bad to see that happen and you have this
319. 18:58fighting going on and and and the american people are
320. 19:01the ones that are uh... the victims of all that
321. 19:04because of washington is
322. 19:06kind of stuck here in terms of
323. 19:08uh... getting things done for uh... the american people
324. 19:12so that that basically the difference that i've seen over the years
325. 19:16uh... and not a lot of trust uh... even
326. 19:18even within like the republican party
327. 19:21uh... but so all right
328. 19:23Yeah, so before the break, you were talking about the response of the larger legal community
329. 19:30over this.
330. 19:32Let me ask you this, because I know, I mean we hear from people, I think there's kind of
331. 19:37a resignation or just this assumption among the American people that if you're powerful
332. 19:44enough, if you've got enough money, if you're famous enough, you're untouchable.
333. 19:49a two-tier, there are us mere mortals that have to live legally, not have to, it's a privilege
334. 19:57to live legally and forthrightly.
335. 19:59And then there are the 100 Bidens of the World that can just live a life like a movie
336. 20:05script and a crime drama and get away unscathed.
337. 20:09I mean, speak to the American people that they just feel like we're a country where justice
338. 20:15doesn't get served anymore.
339. 20:17Well, yeah, that's right. But then you see, like for example, the prosecution against Donald Trump, I mean, he was
340. 20:25he's wealthy and well known, etc. But that didn't help him because he espouses
341. 20:32conservative views and policies and so they went after him
342. 20:37after he announced he wanted to run for president in 2024 with these bogus
343. 20:43charges and now the cases are being dismissed here in DC and in Florida because Jack Smith
344. 20:56is winding down the prosecution and he cannot under DOJ law continue prosecuting a sitting
345. 21:04president which Trump will be.
346. 21:07So he went to the two courts and said, hey, look, I can't go after Trump anymore.
347. 21:13And once he's president, so let me have his cases dismissed.
348. 21:18And he did something, what he called the dismiss the cases, without prejudice.
349. 21:25That's illegal term meaning he can bring him back again.
350. 21:29But that's not going to happen because once President Trump takes office and Pam Bonne
351. 21:36becomes attorney general, show file motions to dismiss these cases with
352. 21:42prejudice, meaning they can never be brought again even when Trump gets out of
353. 21:47office. So those cases are going away very soon here and the other cases are
354. 21:56lingering both in the New York case and the Georgia case but those I think will
355. 22:00be going away. So yeah, there is this two system tier of justice. And yeah, if you're
356. 22:08rich and famous on the liberal side, like the 100 Binance of the world and so forth,
357. 22:16you might get a break. But eventually, I think there'll be a course correction here with
358. 22:24the new administration world. There'll be more of a fair administration of justice by the Justice
359. 22:30department and the FBI.
360. 22:33Is it fair to say, and I know this is counterfactual, but I don't know, it's fun to think about,
361. 22:40or interesting to think about, had Trump not run for president?
362. 22:45If he had just ridden off into the sunset and disappeared, all of those 34 charges probably
363. 22:51would never have come about, would they?
364. 22:54oh absolutely not none of those thirty four charges nor do well
365. 22:59jacksmith
366. 23:00and all that the none of those cases
367. 23:02would have come about because none of them started until
368. 23:06of president trumped i'd announced that he wanted to run for real action
369. 23:10so uh... you know it doesn't take uh...
370. 23:13uh... genius to put to two together to figure out what was
371. 23:17motivating those prosecutions so
372. 23:20uh...
373. 23:20but but that that got you one
374. 23:23a man
375. 23:26all my gorg they would they would uh... try to put it down his coffin
376. 23:30uh... i think i'm eventually would have been be vindicated the supreme court
377. 23:35uh... just on the merit of these cases
378. 23:38but it was just uh...
379. 23:40uh... the energy of the
380. 23:42american people just cause more of a
381. 23:45political division
382. 23:46then what we have right now
383. 23:48yeah
384. 23:49um... you know what's out of the world was that of time uh... i want to give you a
385. 23:53minute to wrap up. I appreciate it very much. Not only your analysis today, Attorney
386. 24:00Kamenar, but just your work on behalf of ethics in Washington. Ethics in
387. 24:09Washington, two words that you don't often hear in the same sentence. But any
388. 24:14final thoughts? Well, I think that we need to look forward to the new
389. 24:21administration is going to be a battle with confirmation of some of the nominees that President
390. 24:27Trump has nominated.
391. 24:30So I think most of them will be confirmed.
392. 24:36There may be some that will have trouble.
393. 24:38May have to have a recess appointment, but I think they're going to come in and sort of
394. 24:46house and get rid of some of the deep state here and hopefully we'll have a new day of
395. 24:55accountability and disparity with the economy and also with peace in terms of these other
396. 25:07flicks that are going on around the world.
397. 25:12So hopefully the next four years will be renaissance for the American dream.
398. 25:21Indeed, I concur.
399. 25:24Thank you so much Paul Caminar.
400. 25:25We're going to change gears here for a second.
401. 25:27Alex McFarland on the American Family Radio Network.
402. 25:30I'm sitting in for attorney, pastor, broadcaster Abe Hamilton III.
403. 25:37By the way, my own website is alexmucfarland.com.
404. 25:41my books and my broadcasting and my tour schedule and speaking is up there.
405. 25:46And I've got a number of things in 2025 that I hope you'll check out if you look at my calendar
406. 25:52there on AlexMcFarlane.com.
407. 25:54Well, we're going to change gears.
408. 25:56I'm very, very excited to speak with Christian Briggs, who's an economic expert.
409. 26:02And much has been said about the Trump economic policy.
410. 26:08And let me just say this, since November 5th, the markets have rallied.
411. 26:14Gas prices is very interesting.
412. 26:16I was on the road literally the day after the election, and I noticed on several gas
413. 26:22stations changing the sign, the price of gas within days of the election went down some
414. 26:3010 cents per gallon in some parts of the country as Trump had been on the road saying drill,
415. 26:36baby drill for a lot of measurements, certainly economics among them. The looming Trump presidency
416. 26:46seems to bode well, but we're going to get some insight from Christian Briggs. Sir, thank
417. 26:52you for holding. Thanks for being with us today and we look forward to hearing your insight.
418. 26:58Well, thank you so much for having me. It's great to be on your program.
419. 27:02Well, thank you. Before we get into some news and analysis and prognostication, tell us about
420. 27:07yourself. Give us your website and where people can follow the work that you do, Mr. Briggs.
421. 27:13Well, great. Thank you. So, we're one of the largest North American precious metal dealers.
422. 27:19We wholesale market gold, silver, select rare coins. Website is B as in Bravo, M C, B M C,
423. 27:29AAMBMCham.com, but we're wholesalers to the retail public,
424. 27:34prices, metals, and rare coins, and one of the largest in North American.
425. 27:37We've been doing it for about 40 years now.
426. 27:39Wow.
427. 27:41So I've got an article from the Wall Street Journal called the dwindling wealth of America.
428. 27:49And talk to us about just in your opinion, the financial stability of the average American
429. 27:58family. Well, that's a great question. Okay, let's talk about stability. Let me back up a couple
430. 28:06years or at least two terms prior. When Donald Trump was running for president in 16 and ultimately
431. 28:12won, we were at about a 52% labor force that didn't participate. In other words, they may have worked,
432. 28:19but they didn't pay taxes or they lived on some entitlements. There were some means of which
433. 28:24They got by, but they weren't paying into the system.
434. 28:27And when he took office, he dropped that down to 47%,
435. 28:31which means he lifted so many people
436. 28:34from the lower middle class, middle class,
437. 28:37all the way up to upper middle class.
438. 28:38He was one of the biggest proponents
439. 28:40of offering educational, vocational training
440. 28:45to all the different types of African American Latinos
441. 28:50or just anybody who wanted it.
442. 28:52So he was one of the greatest presidents,
443. 28:53to create the lift, which is going to go back to your original question here in a second.
444. 28:57Now, when you look today, under the Joe Biden administration, that 47 jumped up to 62. In fact,
445. 29:05we've now gone up to close to 80, if not at 80 percent of America is living paycheck to paycheck.
446. 29:10So what you've got is a dependency culture. So when the Democrats always, and I say this always,
447. 29:17It is always tax and spend.
448. 29:20Raise the taxes, spend the extra money,
449. 29:22create a dependency that underlines the fabric of America.
450. 29:27So instead of going from prosperity of accomplishment,
451. 29:30it's basically existing of dependency
452. 29:33by the federal government.
453. 29:34So if, for example, you and I were creating a dependency state,
454. 29:43then we knew that if we can get more people
455. 29:45taking a handout from us the the likelihood of those people being or staying
456. 29:50loyal in a loyalty way because the money would keep us in office they would vote
457. 29:55us back in office so the whole motivation of the democratic will be
458. 29:59be back to by administration was to really in inflict as much pain you'd
459. 30:03almost have to think that way because if they were to really say this one more
460. 30:07time but the inflation was transitory it'll never give about five percent I
461. 30:12I think that's what Janet Yellen said in Paul Bose
462. 30:14and congressional testimony.
463. 30:16It's transitory, it's never gonna get above 5%.
464. 30:20It's not gonna hurt the American public
465. 30:22and we've got under control,
466. 30:23which turned out to be completely wrong.
467. 30:27So now you see their motivation.
468. 30:29You see them creating a situation
469. 30:32where the more people that are dependent upon
470. 30:34the Democratic Party, the more likely they're gonna stay
471. 30:36in power.
472. 30:37And thus, that's the reason why the numbers
473. 30:39are the worst in history.
474. 30:41I mean, quite honestly, Donald Trump was one of the most favorable presidents in his first
475. 30:45term to increase the standard of living for every single person, lower the taxes, bring
476. 30:52manufacturing back to America, and within about a hundred executive orders Biden took
477. 30:57all that away and made it worse.
478. 30:59Wow, wow.
479. 31:00And you know, the thing is, I mean, isn't it fair to say that both conservative and liberal
480. 31:09and by liberal Democrat, I mean, liberal socialist, big government, Marxist.
481. 31:14I mean, they have a business plan.
482. 31:16And like you say, the Democrat promised the world, drill it into the electorate that you
483. 31:23can't make it without me.
484. 31:25I'm the one that cares about you.
485. 31:28For your own survival, you must vote Democrat, but it's a tax and spend entitlement dependency
486. 31:35class that I mean that's their business model isn't it?
487. 31:41It's a hundred percent of their business model and the way you outlined it was perfect.
488. 31:44It is all about creating a state of euphoria that excites the base that higher taxes only
489. 31:54affects the top five or ten percent of America.
490. 31:57Okay, that's what they tell you.
491. 31:59And two, that equality, okay, the great reset is about resetting the wealth inequality.
492. 32:06the quality of life.
493. 32:07Hey, hold that thought for me.
494. 32:09We've got a break.
495. 32:09Christian Briggs, hard asset management, the economy,
496. 32:13and your future.
497. 32:14Stay tuned.
498. 32:15We'll talk more about this after this brief break
499. 32:17on the American Family Radio Network.
500. 32:19Don't go away.
501. 32:20Hamilton Quarter Podcast and One-Bitted Common Terrets
502. 32:37are available at EFR.net.
503. 32:40Back to the Hamilton Quarter on American Family Radio.
504. 32:45Welcome back to the program.
505. 32:47Alex McCrallen here sitting in for Attorney Abe Hamilton.
506. 32:50the third we're talking
507. 32:52with uh... christian brigs uh... his website b m c h a m
508. 32:58like b m c ham
509. 33:00dot com
510. 33:01and uh... hey i want to sound getting an education
511. 33:04uh... mister brigs just reading your website here
512. 33:08uh... great website and uh...
513. 33:12moves me to believe i need to be investing in gold and precious metals
514. 33:17well you know it's interesting
515. 33:19I've always told this to people and I've not been a real aggressive on it until the last
516. 33:24couple of years is that gold is a hedge.
517. 33:27We don't know what's going to happen five or ten years from now.
518. 33:30Gold always is favorable by or to a catastrophic event.
519. 33:35It's one of the few things in the world that is a precursor.
520. 33:38In other words, you can determine things are going to start to become somewhat bad or it
521. 33:44could be a completely a melt on like an 08 as gold continues to move up.
522. 33:48We've seen gold double in value, oh, what in the last three years, I guess.
523. 33:52So when you start to look at gold from an investment, it's critical because what it does
524. 33:58is it forecasts.
525. 33:59Unfortunately, stock markets and bond markets are reactionary after a catastrophic event when
526. 34:05the news is already pretty bad.
527. 34:07So gold has been, for the most part, a hedge, it's been alternative, but it's never been
528. 34:14the only investment you should have, but it's certainly a part of something that you really
529. 34:19have to have a diversified portfolio.
530. 34:22So, at the end of the day, we love it.
531. 34:24We think it's great and it's been averaging about 19% annualized returns since 1974 and
532. 34:29that's not bad.
533. 34:30No, for real.
534. 34:31For real.
535. 34:32Before the break, you and I were talking about just kind of in simplistic terms, the business
536. 34:38model of both parties, conservative and liberal.
537. 34:44Talk to us if you would a little bit about the debt because, you know, and, and believe
538. 34:48me, I'm not a political expert, but the tax and spend big government dependency state that
539. 34:57goes back, I suppose to LBJ in the sixties, you know, even, you know, years ago when I
540. 35:05was in college, I was just beginning to become politically aware.
541. 35:09I remember thinking, hey, this is not sustainable.
542. 35:12I mean, if you just keep adding to the debt, you keep creating people that are dependent
543. 35:19but aren't necessarily producing.
544. 35:22I mean, that just can't go on forever.
545. 35:24And then I've had professors in school that say, oh, the economy is much more resilient
546. 35:29than conservatives think.
547. 35:31Conservatives always say this guy is falling.
548. 35:33The economy can withstand much, much more dependency.
549. 35:39So if you would speak to us, Mr. Briggs, about, you know, money is not infinite.
550. 35:48Tax revenue is not infinite.
551. 35:50Are conservatives like myself right to be concerned that this just can't go on, this spending
552. 35:57and indebtedness and dependency?
553. 35:59It can't go on forever.
554. 36:01Well, it's going to go on until it can't.
555. 36:06And that's the thing.
556. 36:07So forever is a very long time.
557. 36:08So we do agree on both things here.
558. 36:12One, it can't continue and forever is too long.
559. 36:15It'll already have the house of cards will have already dropped and falling down long
560. 36:19before the word forever is utilized.
561. 36:22And the reason is that when you have a $7 trillion budget, which is what we had here in 24 coming
562. 36:27into the now the fiscal 25th year of the policies of Joe Biden, $7 trillion,
563. 36:34which is just astronomically crazy money.
564. 36:36I mean, we're talking hockey stick here in both spending taxation.
565. 36:40Because taxation itself has to come somewhere.
566. 36:43You're going to have to pay for these revenues that they're, because they're willfully just
567. 36:47spending crazy, okay?
568. 36:49When I say revenues, what they're outlight is literally putting us in the headwinds of a
569. 36:56debt default.
570. 36:58And let me give you some statistical and mathematics behind it.
571. 37:02When you start to look at the last 35, not quite really 36 years, less than 40, but a little
572. 37:08more than 34, we've had basically a declining interest rate in environment in this country,
573. 37:12certainly from the early 80s.
574. 37:1440 plus years ago, interest rates were at 12, 13, 14%.
575. 37:17So they really declined.
576. 37:18It had a few bumps in 08, where they did move up a little bit, then they would crash them
577. 37:22again, and we kept them low by 2020, we're at 2% mortgages, which you might as well just
578. 37:26give away the money for free at that point.
579. 37:28So we've had two generations, basically, or close to it, of interest rate environments
580. 37:33that were declining, which helped the credit markets.
581. 37:36Well, if you look at what the House's an average home cost in the early 80s, it was about $83,000
582. 37:44today.
583. 37:45It's about $600,000 roughly.
584. 37:47And in over 600 communities in America give or take, we have homes that have a medium price
585. 37:52of between $900,000 and $1 million.
586. 37:56That's crazy.
587. 37:57The home values in the market have gone up way disproportionately to incomes.
588. 38:03So we've had socialized spending to make up the gap between the have and have nots.
589. 38:11Example, when you start to think about real wages, there are about 400% in the last 30 years.
590. 38:15That's it.
591. 38:16Homes are up 50 fold.
592. 38:19So we created artificial markets through government spending by government borrowing and
593. 38:25And what's happening at these next generations, we now have a debt that theoretically, it's
594. 38:30like a $4.5 trillion to $5 trillion with the top line revenues in this country.
595. 38:33How are you going to pay $36 trillion back?
596. 38:36You had average debt was financed at about 75 basis points, not even a percent on the 10,
597. 38:42the 20s and the 30s, or certainly the short term maturity treasuries.
598. 38:46Now we've got four to quarter, four and a half percent.
599. 38:49So now we've seen a 300, 500, an eightfold increase in the amount of interest you're paying,
600. 38:54debt was seven trillion dollars under Obama, we're 36 trillion now. These are disproportionate
601. 39:00mathematics. In other words, no matter how you put it on paper, the government has to
602. 39:06either devalue the currency dramatically to be able to bring down the value of the debt.
603. 39:13If that happens, then you're seeing why gold is going up. Gold is hedging. What is inevitably
604. 39:19going to happen is somehow we're going to have to devalue the currency.
605. 39:24No way around it. The only way to do that is to get rid of the debt.
606. 39:29But every cause has an effect. So you devalue the American currency to make that debt number look
607. 39:39a little more manageable. But what does that mean on the world stage? I mean, how strong is the American
608. 39:46dollar versus the other currencies of the world.
609. 39:49Well, okay.
610. 39:52Another great question.
611. 39:54These are the questions that you don't get asked a lot, but I'm glad you did.
612. 39:58If you look at gold, and there's an old term in civics, that for every action is a reaction.
613. 40:05Usually it's the opposite.
614. 40:07One goes down by the very definition of matter moving forward or matter moving or not at all.
615. 40:12It could be stationary.
616. 40:13What we're seeing for the first time in history is everything is going down simultaneously
617. 40:17against one common denominator, gold.
618. 40:20In other words, you're seeing every currency,
619. 40:22it's having to, it's at today's value of gold,
620. 40:26let's just say about 26, 50, I think that's what it's at right now.
621. 40:29You literally look back six months from now,
622. 40:31every currency in the world,
623. 40:34it now requires more of that currency to buy the gold
624. 40:37than it did six months ago, a year ago, two years ago.
625. 40:41Gold is letting the world know,
626. 40:43and the reason why central banks are on the world
627. 40:45is buying so much gold is because the anticipation of a currency collapse or at the very least
628. 40:51a currency devaluation or catastrophic demand that would devalue all currency simultaneously
629. 40:56which is a kind of against physics but it's not.
630. 40:58When you use the correlation between gold which is real money, real monetary policy if
631. 41:02you want to get right down to it in paper currency which is really just promissory notes
632. 41:06that you hope and you pray that the government still honors them and they will but the value
633. 41:12is an example, $10,000 in 1971.
634. 41:16If you had kept that $10,000 in cash,
635. 41:19it's worth $200 today in buying power.
636. 41:21It's worth almost a million dollars in gold.
637. 41:24So where was the value in cash or in gold?
638. 41:27So gold hedged the devaluation of the US dollar,
639. 41:31and from pretty much most all of the currencies,
640. 41:33for that matter, about the same amount of money.
641. 41:35So we're witnessing the changing of how perception
642. 41:40of value is not in paper currency but in hard currency which is gold.
643. 41:45And gold is telling everybody we have problems because the world debt right now is just a
644. 41:50hair under 400 trillion.
645. 41:52There's no way that you're going to pay that back.
646. 41:55That's theoretically impossible.
647. 41:56We've gone analysis here.
648. 41:58You can't.
649. 41:59You're going to have to devalue the currencies further and able to even get to an appointment
650. 42:03where you might be able to tackle the debt.
651. 42:05And even then it's very challenging.
652. 42:08So when someone invests in gold, what does that mean in a safe deposit box somewhere?
653. 42:16You've got little coins or bullion.
654. 42:22What does it mean to invest in gold?
655. 42:25Well, investing in gold is really easy.
656. 42:27You take gold in the form of different things and you put it in your safe deposit box under
657. 42:32your bed and your attic or your gun safe, for a lot of people do.
658. 42:35And what you have there is an asset that has been averaging in 5 and 10 year average terms
659. 42:42about 19% a year that you don't have to worry or monitor the company, the management team,
660. 42:48or what it's doing.
661. 42:49It's the most passive investment with one of the greatest returns and it's super simple.
662. 42:55It just buy it and you own it.
663. 42:57There's not many companies or real estate that has zero annualized cost to own, doesn't
664. 43:03It's not like an ETF, you have to pay a management fee or a wealth manager or real estate, you
665. 43:08have to pay real estate taxes, insurance, maintenance, and up-key, even if it's rented.
666. 43:13So owning it is super simple.
667. 43:15It reflects on a great hedge against the valuation.
668. 43:18But more importantly, the central banks around the world have been buying it at record pace
669. 43:23and record amounts because they're starting to realize that the paper asset market is
670. 43:28now coming to what may be a time of reckoning.
671. 43:32within the next three years.
672. 43:34And for your listeners, I'll kind of give you
673. 43:37some ratios here, which is really good,
674. 43:39because statistics are going with it, to look at things.
675. 43:42It takes the abortion out of it, as many people know.
676. 43:44But when you look at the last 30-plus years,
677. 43:47there have been 52 countries that have achieved
678. 43:52a milestone, not a good milestone,
679. 43:54but it's a milestone nevertheless, okay?
680. 43:55We'll at least give them that.
681. 43:57Where their debt is 130% greater than the last year
682. 44:03or GDP or how many countries are ratio thereof? There's been 52 that have achieved this 130%
683. 44:11debt to GDP ratio, 52 in the last 30 plus years, about 30, 35 years. Of the 52, 51 have gone
684. 44:20bankrupt. They've literally filed bankrupt. The only one who hasn't is Japan, and if you've ever
685. 44:25seen their financial lately, it's the Enron model. It's no doubt. It's something that you would look
686. 44:32and go, there's no way this can exist.
687. 44:34300% GDP ratio, the Japanese government,
688. 44:37the Bank of Japan buys all of the debt they put out there.
689. 44:41It's incomprehensible.
690. 44:42You can't do it much longer.
691. 44:45And they'll be the 52nd country that he has to realign their currency.
692. 44:48Let's talk about the United States.
693. 44:50Where are we?
694. 44:52Well, I'm glad you asked.
695. 44:54So our ratio is out 124%, give or take a half a percent each way.
696. 44:59We're at 124.
697. 45:00Do you know that eight years ago?
698. 45:02we're at 44%, now we're at 124, the breaking points 130.
699. 45:07At the current rate of spending,
700. 45:10if the interest rates they elevated, which they will,
701. 45:12those they elevated, they're not gonna go back down
702. 45:14to a half a percent, I can assure you on that.
703. 45:15That's not gonna happen.
704. 45:17That means in three years, in fiscal 28,
705. 45:21really into 27, technically about the second half of 27,
706. 45:25into 28, we will be running at 155%.
707. 45:30We will have passed the tipping point.
708. 45:33Is there any way to avoid that though?
709. 45:37Sure, there's great ways, but it's painful.
710. 45:40Elon sent a tweet out, many of your viewers saw it or your listeners, and it was that if Trump wins, equity markets are going to suffer a fairly significant loss.
711. 45:50Now, he didn't mean that the next day, the next week or the next month.
712. 45:53He meant that if Trump wins, he's going to have to go in there and surgically cut government spending.
713. 45:59The Vic who I know, and Elon, I don't know Elon personally, but I know the Vic who's a rock
714. 46:08straw.
715. 46:09He's a very, very smart guy.
716. 46:10They're going to go in there and they're going to try to chop two trillion dollars out of
717. 46:13government spending, which in theory sounds great.
718. 46:16And if there's any two people that can put together a team to do it, they're probably
719. 46:20the guys.
720. 46:21But I don't see them quite cutting that much because government spending now accounts
721. 46:23for about 60% of the economy.
722. 46:25Really it does.
723. 46:26into every dollar government spends, into the economy,
724. 46:29entitlements, military, healthcare,
725. 46:30all those different variables.
726. 46:32So they're a huge part of the economy.
727. 46:34You can't just take a third of the economy and go,
728. 46:36oh, well, we're not gonna do it anymore.
729. 46:39That would be too austerity.
730. 46:41Measure, government would not go for that.
731. 46:44But in saying that, the only way to do it
732. 46:48is gonna be a painful way of cutting.
733. 46:51You're gonna have to cut government spending,
734. 46:53but where do you cut it?
735. 46:55And obviously I'm not part of the Doge team,
736. 46:57but I do know anybody who looks at the books
737. 46:59is gonna have to come away at the same thing I did
738. 47:01when I looked at some of the trade reports.
739. 47:03So security is now like $1.3 trillion, $1.4 trillion this year
740. 47:09with all the inflation adjustment numbers.
741. 47:11Medicare is a trillion.
742. 47:13You've got interest on the debt, $2 trillion
743. 47:17in thereabouts into fiscal 25.
744. 47:19I mean, I don't know where you're gonna cut
745. 47:21because the revenues are gonna be around 47
746. 47:23maybe five trillion at fiscal twenty five spending is going to be well over
747. 47:27seven trillion by seven five maybe eight trillion dollars of government debt
748. 47:30spending
749. 47:31so then so which is where do they cut
750. 47:35and and really it's a little bit of everywhere you're going to cut
751. 47:39something from every single department
752. 47:41shutting down part of education with i think they mentioned that i don't know
753. 47:44how to go down so bad
754. 47:45yet but okay so you're saying it would be a billion three hundred billion a year
755. 47:49i beg your forgiveness we are just about out of time christian briggs hard
756. 47:53asset management, BMCham.com.
757. 47:56Listen, we've got to talk again.
758. 47:59We're all getting an education.
759. 48:00We thank you for that.
760. 48:01Alex McFarlane here thanking you for listening to the Hamilton Corner.
761. 48:05Keep you ready to tune to AFR.
762. 48:07May God bless you.
763. 48:17radio.