Checking in with Charles Hugh Smith, Ep #54
Can we find an answer to the world’s ills? Is a return to a gold standard feasible? Can we keep our current system from imploding? Do we even want to? In this conversation, Charles Hugh Smith gets into the weeds on the socioeconomic issues we’re facing. We talk about whether or not a new economic system is the answer or if a focus on relocalization and self-reliance may be key to inciting change.
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LISTEN IF YOU ARE INTERESTED IN…
[2:34] Why the gold standard isn’t sustainable
[8:47] Can we keep our current system from imploding?
[14:50] What could a new economic system look like?
[21:32] What about a universal basic income?
[27:23] Increasing rates of hopelessness and depression
[37:34] Relocalization: Self-reliance in the 21st century
[42:43] The next generation was born for this time
[44:12] The systems we rely on are failing, so what’s next?
[49:29] Why we’re positive about the future of humanity
Why the gold standard isn’t sustainable
Many people are calling for a return to the gold standard or something equivalent that’s real-world and tangible. But the idea that we can live in a world without credit has become unrealistic. Globalized developed economies moved off the gold standard because of its limitations. When there’s a shortage of silver and gold, there isn’t enough money to trade.
The wealthy people will end up with all of the gold, silver, and bitcoin and then trade will stagnate. Credit is how you get around that. Fiat currencies allowed for flexibility. If the government didn’t have gold or silver, they borrowed the money into existence.
Is a new economic system the answer?
The vast majority of global consumption is based on credit. What would we have without credit? Far less consumption. If credit becomes too expensive or scarce, consumption will decrease.
The other source of growth is affordable energy. Once energy gets too expensive, we won’t have money left to borrow and consume (or save or invest). If these systems go away, we won’t be able to grow.
So maybe we shouldn’t measure growth as the one thing that matters. Maybe we should look at human well-being. A famous economist, Joseph Stiglitz, said we should throw away GDP and have an index of human well-being. Nevermind economic growth.
Why not make it impossible for someone to make a profit by making a good or service that is designed to fail so you must repeatedly buy another? We need to make things durable again. It will do away with a lot of inflation and boost the purchasing power of people’s money. If something lasts 20 years instead of two, it’s good for the planet, too.
Relocalization: Self-reliance in the 21st century
What can we do in our own little world to take control of our health, income, and investments? Why not become more self-reliant? What are you depending on? Where is it coming from? Can you reduce your exposure to the risks of globalization?
Can you support people providing essentials locally (supporting a farmers market or local cafe)? When we keep the money in our community, it feeds solutions. If we take care of local ranchers and farmers, we won’t be disrupted when the supply chain that’s 5,000 miles long breaks.
That’s what the pandemic lockdown showed us. Global supply chains are long and fragile. When a link breaks, the supply chain crumbles.
The systems we rely on are failing. Wishful thinking isn’t a solution. We have to adjust and evolve. But Charles believes that we won’t change until the pain is so great that we have no choice. The system will have to break before we adapt. There will be pain but it will be net positive.
Charles Hugh Smith is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
================================
RESOURCES MENTIONED
The Myth of Capitalism: https://www.amazon.com/Myth-Capitalism-Monopolies-Death-Competition/dp/1119548195
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CONNECT WITH CHARLES HUGH SMITH
Charles’ blog, Of Two Minds: https://www.oftwominds.com/blog.html
Charles’ Patreon: https://www.patreon.com/charleshughsmith
Self-Reliance in the 21st Century: https://www.amazon.com/Self-Reliance-21st-Century-Charles-Smith/dp/B0BFV9HJ5V
=============================
CONNECT WITH EMERSON:
Website: www.CIAdvisers.com
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Running Money with Charles Heenan, Ep #53
Inflation continues to rise. Interest rates are at 30-year highs. Gold is at all-time highs. There’s geopolitical conflict and confusion everywhere. Yet most global equity markets continue to go up. Where do you turn to get rational analysis, advice, or opinions?
Today’s guest brings three decades of experience to the equation. Charles Heenan is the Co-Investment Director at Kennox Asset Management. He’s adopted a distinct value approach to global investing over the last 30 years. He shares some insight into global investing (and why it’s important to diversify internationally) in this episode of UPThinking Finance™!
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LISTEN IF YOU ARE INTERESTED IN…
[2:27] Learn more about Charles’ equity firm: Kennox
[9:07] How things have evolved since the 90s
[12:13] A perspective from the other side of the ocean
[15:23] The impact of global debt on global economies
[20:59] Diversification and trusting the process
[25:55] The Kennox approach to global investing
[31:32] Many investments require patience
[40:43] How Kennox conducts global research
[43:25] How instinct plays a role in decision-making
A perspective from the other side of the ocean
How did the US become 70% of global markets? From an American’s point of view, why would you look outside of the US? The stock market has done incredibly well.
Charles firmly believes that you can't have all of your investments pointed in one direction. Just as you diversify your portfolio domestically, you need to diversify internationally. North Americans should challenge themselves.
While we realize that investing in US assets has been amazing, we have to focus on what will perform in the next decade. Charles sees great opportunities outside the US.
The impact of global debt on global economies
Charles believes that interest rates might be the most important number to track in the world economy. They were just cranked and left alone for a decade. If Edward Chancellor is right, we may run into real problems. That’s why he emphasizes that you should get some things in your portfolio that will do well, even if global debt becomes a problem.
Charles doesn’t worry about a financial crisis because of the way his firm thinks about risk. They prepare and keep well-positioned for if and when things happen. Likewise, we preach risk management all the time. The reality is that retired people with a 60/40 portfolio still haven’t recovered from 2022 and it’s because they relied too heavily on the old way of doing things.
The Kennox approach to global investing
Kennox hunts the whole world because they truly want to find the best company in the world—at a rock-bottom price. Every efficient market hypothesis person will tell you it’s impossible. And while it’s rare, it does happen. Global investing gives them the biggest opportunity to find what they’re looking for.
They own a small company that manufactures high-end designer shoes. Their stock had cash on the balance sheet and had a 12% dividend yield every year. It was a great company making great margins without leverage problems. It took the market 18 months to care.
There are small opportunities that exist everywhere but you have to be willing to look outside the American box. They’re finding more opportunities in Europe and Asia far more than in the US. They only buy the highest quality. Most of their investments have no debt, are all profitable, and are all paying dividends.
They spent five years going sideways when everyone else in the world made out like bandits. But they made more money in the first few months of 2022 than any other year in the 17 years they’d been operating—in a year the markets were getting hammered. It was because they suffered through five years of pain. It left large opportunities available.
They buy them, stick with them, and track what they do over 10–20 years. The most important thing they embrace is long timeframes. You have to be able to interpret the available information and the conviction to stick with your decisions. That’s what makes it work.
Charles Heenan is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
================================
RESOURCES MENTIONED
The Price of Time: The Real Story of Interest by Edward Chancellor: https://www.amazon.com/Price-Time-Real-Story-Interest/dp/0802160069
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CONNECT WITH CHARLES HEENAN
https://kennox.co.uk/
=============================
CONNECT WITH EMERSON:
Website: www.CIAdvisers.com
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Basis Points: Talking Fed with Kevin Flanagan, Ep #52
Kevin Flanagan started his career as a Fed watcher i.e. money market economist working on the trading floor. As a fixed-income strategist, he looks at things from a broad perspective because numerous things impact the bond market—economics, geopolitics, elections, etc. All play a role in how the bond market and interest rates are developed.
He found it fascinating that you could look at the past and present to gain insight into the future. Kevin joins me in this episode of UPThinking Finance™ to shed some light on this confusing topic.
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LISTEN IF YOU ARE INTERESTED IN…
[1:59] The “new” old-rate regime
[8:36] When the Fed’s role shifted
[14:51] Politics playing a role in policy
[16:55] Current impacts on inflation
[21:55] The impact of foreign money
[24:50] What will happen with US debt?
[28:40] The performance of the municipal market
[30:45] Where Kevin sees the bond market headed
[32:47] The connection between the 10-year and gold
[35:02] How Kevin got into the fixed-income arena
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The “new” old-rate regime
Before the financial crisis, double-digit interest rates did exist. After some time, we nestled into a 3–5% range. From 2010–2020 there were even negative rates. That period was abnormal. But because of recency bias, we’ve forgotten that what we’re seeing now is closer to a “normal” level. We’re moving back to normalcy. We likely can’t return to the pre-covid levels of interest rates. There’s also a generation of advisors and investors who have to be reeducated about interest rates.
The volatility in the treasury market at the levels we’ve witnessed has to do with the uncertainty with interest rates. It’s the uncertainty that is new to the bond market. And the more open the Fed is with communication, the more openings there are for misinterpretation. The bottom line is that things can change very quickly. We can’t rely on what’s worked and must pivot and adapt.
When the Fed’s role shifted
It’s no secret that the main driver for the prices of the equity markets is the movement of the Fed. Bond guys like to say “Rates make the world go round.” Everything starts with interest rates. And who sets interest rates? The Federal Reserve.
As things have evolved in the bond market, there was always a clamoring for the Fed to be more open. The process of open communication has evolved deliberately. The Fed now gives a policy statement, press conference, and summary of economic projections.
Kevin believes there are three people you need to watch when the Fed makes its announcements—The Chairman, the Vice Chairmen, and the President. They speak on behalf of the Fed and policy. They may not always be the ones getting the media attention.
For example, a Fed Governor is a voting member of the Federal Open Market Committee. One of the governors, Christopher Waller, was on the hawkish side when the Fed started raising rates.
When he changed his narrative, it added to the momentum of the market expecting a reversal toward rate cuts. The market rallied in the 4th quarter and got ahead of itself. The validation never came. The economy and labor markets are proving more resilient than expected and inflation is stuck in the mud. Everything is interrelated and important.
Kevin feels that Powell is itching to cut rates. But they need a reason to do so. If that reason comes, the Fed will cut rates, regardless of it being an election year.
Understanding outside impacts on inflation
Why is the economy resilient? Why is there still inflation? Part of it is because there’s still a lot of money floating around. The amount of government stimulus that came post-covid was enormous. The US is running in a $2 trillion deficit because of government spending. That can’t be dismissed as a factor.
How do elections impact inflation and the movement of the Fed, if at all? Where does Kevin see the bond market headed? Listen to hear Kevin’s expert opinion!
Kevin Flanagan is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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“TWO” with Alex Krainer, Ep #51
This episode marks the second anniversary of UPThinking Finance™. Alex Krainer was our guest for our first anniversary, so it made perfect sense to invite him back again. In this episode of UPThinking Finance™, he speaks on both financial topics and the ever-changing geopolitical landscape.
You will want to hear this episode if you are interested in...
The turmoil in the financial markets [2:02]
How does this thing blow up? [6:45]
Is a black swan event going to happen? [9:56]
Will the Fed eventually lose its power? [15:09]
Numerous countries are united in a hatred of the US [17:11]
Why it’s time to find a different way [23:58]
How Alex would overhaul the financial system [26:34]
The current social arrangement doesn’t work [36:51]
Is a black swan event going to happen?
There are extreme market reactions that happen once every handful of years that come out of left field. Will something like this happen again soon? It’s risky to expect it and try to short it.
When markets are trending they tend to continue trending. We’ve reached new historical highs. Sometimes these trends go vertical and trigger a buying panic in the market where it doesn’t matter what the valuation is.
Predicting the top is never a thankful thing to do. Alex prefers to drive in the slow lane and follow the trends until it stops. You’ll never sell at the top but you’ll see a gradual reversal. Alex’s advice is to control risk and trust the trends more than predictions.
It’s irresponsible to park your money and wait for a crash that never comes. But it’s also irresponsible not to find new ways of managing money. That’s where trend following comes into the conversation. You have to diversify risks so that if the herd goes off the cliff, at least part of your assets are adequately diversified.
Numerous countries are united in hatred of the US
Many countries are struggling under their loan terms with the World Bank. Egypt is spending close to 60% of its state budget to service the interest on its loans to the IMF.
Countries like Egypt are impoverished—when they’re extraordinarily wealthy—because of their national debt. Ukraine has been dead last in terms of GDP growth even though it’s a resource-rich nation. They should be wealthy but they’re the poorest nation in Europe. Why? The IMF terms they have to live with.
That’s why the BRICS nations are encouraging countries to trade in their own currencies between themselves. Countries like Egypt and Ukraine are being told by Russian and Chinese diplomats that if they trade with the BRICS group, and they default on their debts with financial institutions, and If they choose to renationalize their domestic resources, they won’t be penalized.
What will these countries choose? We have to acknowledge and adapt to the changing environments.
How Alex would overhaul the financial system
Nomadic societies don’t need money. They survive. Most of the members of their community contribute to the well-being of the whole community. It takes the labor of 23 people to support a community of 21 individuals.
If they settle down and master agriculture, they produce a surplus. Now, part of the community could build a bridge and trade with a neighboring community, creating more surplus. Then they have more labor dedicated to other things.
Money should be a means of exchange that allocates the surplus of society to uses that improve the quality of life of that society. It doesn’t have to be gold or silver. It does have to reflect the productivity of the group. Money has to reflect the actual wealth of the society.
We have to be ready with solutions for the future. The current social arrangement doesn’t work. We can’t afford to be passive as things are imploding. We are responsible for the way we leave the world for the next generation. How can we improve things?
The allocation of credit has to be a democratic process. Everyone has the right to decide what happens in their lives.
Alex Krainer is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Connect With Alex Krainer
alexkrainer.substack.com/
Connect on LinkedIn
Connect with Emerson Fersch
Capital Investment Advisers
On LinkedIn
Subscribe to Upthinking Finance
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Musical Truth with Mark Devlin, Ep #50
Our thoughts and ideas are being molded through the clever use of psychology. Our enemies aren’t generals and admirals but behavioral scientists and psychologists. They know how the brain operates and how to manipulate it.
In 2010, after years in the music industry, DJ Mark Devlin underwent a “conscious awakening.” He started to study the mainstream music industry and how A-list artists have been used to manipulate and mind-control the masses.
In 2016, He published “Musical Truth: Exposing the Mind-Control Manipulations of the Corporate Music Industry.” We discuss how humanity is being manipulated through music and popular culture in this fascinating episode of UPThinking Finance™.
You will want to hear this episode if you are interested in...
Mark’s awakening about the music industry [5:32]
The history of manipulation [20:37]
What music isn’t manipulated? [28:35]
What is the price of fame? [34:52]
We have the power of choice [40:41]
Mark’s upcoming tour in the US [43:00]
Mark’s awakening about the music industry
Mark was a radio and club DJ, playing both in the UK and internationally. Life was great. But in 2007, he started questioning the nature of reality. He couldn’t comprehend the level of conflict, strife, poverty, etc. that he was seeing in the world. He realized that the turmoil was designed by a control system conspiring against humanity. It’s been this way throughout human history.
Experts covered the banking and financial system, geopolitical conspiracies, the world of science and academia, and the mainstream media. But no one had commented on how the music industry plays its part in mass manipulation.
Mark has since done hundreds of podcast interviews and written multiple books. His ultimate goal is to bring awareness to the fact that music has been weaponized and popular culture is used for social engineering. It’s a hard pill to swallow.
The history of manipulation in the music industry
In the post-war era, money was scarce and lifestyles weren’t glamorous. There wasn’t “Popular” music but there were strong family values and emphasis on the family unit. In the 1950s, Bill Haley and the Comets came out with “Rock Around the Clock.” They were the first Rock and Roll records, which ushered in the first sex, drugs, and rock & roll era.
Elvis Presley’s “act” on stage was sexually suggestive and he was a sensation. Little Richard, Buddy Holly, etc. paved the way for the 60s or the “British Invasion.” The Beatles and Rolling Stones both had connections to intelligence and Tavistock Institute (A social engineering think tank).
The 60s drifted into “Counter culture” where drugs like LSD became popular. The Vietnam War was raging with opposition from young people. They were encouraged to drop out of society, participate in political activism, and just take drugs. It destroyed anti-war sentiment. Agenda after agenda was achieved. Societal attitudes were changed in some way, shape, or form through music.
Take back your power to choose
When you think you’re enjoying leisure time listening to a favorite band or album, you’re thinking it’s mindless fun. You don’t imagine that you’re being mind-controlled and having your value system shaped and molded for you. People lose their guard. It’s soaked up by the subconscious mind and affects the way they think and behave.
So what do we do? Mark emphasizes that when we awaken to what’s being done and the methods being used against us, we can take back our free will. We can choose to stop participating in mind control rituals.
How do we know what music isn’t manipulated? Watch the whole episode to learn what Mark is doing to expose the truth.
DJ Mark Devlin is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
The opinions expressed in this material do not necessarily reflect the views of LPL Financial.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Resources & People Mentioned
The Cause & The Cure: https://www.amazon.com/Cause-Cure-Mark-Devlin/dp/1913438090
The Sound of Freedom: https://djmarkdevlin.com/the-sound-of-freedom/
Connect With DJ Mark Devlin
Mark’s website: www.djmarkdevlin.com
Odysee: https://odysee.com/@markdevlintv:e
Musical Truth: https://www.amazon.co.uk/Musical-Truth-mind-control-manipulations-corporate-ebook/dp/B01C5Y2QM8/
Connect with Emerson:
Website: www.CIAdvisers.com
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The Library of Mistakes with Russell Napier, Ep #48
If there was ever an industry where history repeats itself, finance is at the top of the list. Russell Napier has worked in investing for over 30 years. He’s written exceptional books, including “The Anatomy of the Bear” and “The Asian Financial Crisis.” He’s the Founder and Course Director for the Practical History of Financial Markets, an online course at the Edinburgh Business School.
In 2014, he founded the charitable venture, “The Library of Mistakes,” a business and financial history library based in Scotland with branches in India and Switzerland. They recently threw their “Mistake of the Year Awards.” Listen to our conversation to learn from the mistakes that were made so that history doesn’t have to repeat itself.
You will want to hear this episode if you are interested in...
Learn more about the Library of Mistakes [1:57] 4
The Mistake of the Year Awards nominations [8:42]
How quickly money can be lost [11:05]
European governments backing pensions [13:09]
The rapid decline of Farfetch [15:49]
3rd Place: Credit Suisse [19:33]
2nd Place: FTX [25:46]
1st place: The Silicon Valley Bank [32:33]
The lessons learned from great mistakes [42:45]
What is the Library of Mistakes?
Russell came to financial markets as a lawyer. He took courses but didn’t feel like they taught him much about what he was witnessing in the markets. He felt that reading financial history was the fastest way to overcome the learning curve. It’s often easier to learn from past mistakes. “The Library of Mistakes” is a business and financial history library full of books that modern investors can learn from (dating back to the 17th century). They recently threw some awards to highlight—and learn from—some of the biggest mistakes in recent years.
3rd Place: The downfall of Credit Suisse
Many banks aren’t content with being a local bank. They desire to grow so they can’t be taken over. The Swiss wanted to be a big player, so they put money on the line to play ball in the US Capital Market. They acquired service companies and overpaid for most—if not all—of them. They had depositors and a large wealth management business. The funds began to depart. It threatened the valuation of the bank. The second biggest bank in Switzerland was lost in a weekend and disappeared. Could this have been anticipated?
2nd Place: The Bankruptcy of FTX
FTX raised $2 billion from investors, i.e. the “smartest” guys in the room. But they had no control over the investment and no oversight. Instead, they relied on the “geniuses” in the company. Without oversight, something going wrong was inevitable. The CEO was funding a different business with deposits. When depositors quickly started to withdraw funds, the missing money quickly became apparent and the company folded. This should have been prevented.
1st place: The Silicon Valley Bank
The Silicon Valley Bank held a portfolio that was overly concentrated in long-term government bonds. In the summer of 2020, the yield on government bonds was at 5,000-year low. They lost 15 billion dollars. 85% of the deposit base wasn’t guaranteed.
A bank has assets and liabilities. When your liabilities are worth more than your assets, it’s negative equity. If your asset price falls dramatically, people will notice. A bank without capital means a higher risk of your deposits being frozen. Numbers are declared to the stock market quarterly. Everyone saw how much the bank was losing on government bonds.
Panic was spread via social media, which was part of the reason why the bank collapsed. More and more people attempted to withdraw their money until there was nothing left. Unfortunately, many of the accounts weren’t FDIC-insured.
What can we learn from these great mistakes? How can we make things better? Listen to hear Russell’s professional opinion.
Russell Napier is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Resources & People Mentioned
The Mistake of the Year Award: https://www.youtube.com/watch?v=Tkisy3P-kxA&t=1716s
The Library of Mistakes: https://www.libraryofmistakes.com/
The Library of Mistakes Podcasts: https://www.libraryofmistakes.com/podcasts/
The Psychopath Test: https://www.amazon.com/Psychopath-Test-Journey-Through-Industry/dp/1594485755
Connect With Russell Napier
Connect on LinkedIn: https://www.linkedin.com/in/russell-napier-81292846/
The Solid Ground Newsletter: https://russellnapier.co.uk/
Connect with Emerson Fersch
Capital Investment Advisers:
http://www.ciadvisers.com/
On LinkedIn: https://www.linkedin.com/in/emerson-fersch-50128b21
Subscribe to Upthinking Finance
Audio Production and Show Notes by - PODCAST FAST TRACK
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One Idea To Rule Them All, Ep #49
The media is completely disconnected from reality. We’ve all known it for a while. The challenge becomes—if we don’t trust the news—where do we source information? How do we filter it? How do we discern the truth?
When did spreading propaganda begin? When did the news become a source we could no longer trust? Michelle Stiles wrote the book, “One Idea To Rule Them All: Reverse Engineering American Propaganda,” to answer these questions. It’s written to expose the realities of the world we live in, in terms of the role of propaganda and manipulation. Don’t miss this eye-opening conversation.
================================
LISTEN IF YOU ARE INTERESTED IN…
[3:34] What propelled Michelle to study propaganda
[6:57] George Creel’s WWI propaganda
[10:47] Le Bon: The origins of mass persuasion
[13:45] Bernays: The idea of stagecraft
[16:35] The infrastructure of belief
[23:37] Why do we trust the propaganda?
[30:25] Deconstructing what we’ve been told
[37:47] Michelle’s research on the American Red Cross
George Creel’s WWI propaganda
George Creel was the Chairman of the Committee on Public Information and the mastermind behind the propaganda campaign promoting US involvement in WWI. He was given $6.6 million to do so.
They shared facts about the war, soft news in magazines, and dispersed national service bulletin in schools. They created the iconic posters and signs everyone is familiar with. They even created a Speaker’s Bureau, where everyday trusted community members memorized speeches and delivered them to the community (borrowing on the trust they’d built).
Le Bon: The origins of mass persuasion
Gustave Le Bon wrote “The Crowd: A Study of the Popular Mind,” which was translated into 19 languages. He studied the time period and the fractures in the Judeo-Christian ethos of the West. He believed that the “Era of Kings” and divine rule was out and the “Era of crowds” was in. It was a time of unrest and upheaval. You can read his 125-year-old book and it’s 100% applicable to today.
Bernays: The idea of stagecraft
Stagecraft is taking an experience and bringing it into the physical realm. Seeing is believing and humanity orients ourselves through our eyes. Logic and reason don’t matter. He took ideas and concepts and manipulated people into believing real things were happening by showing them news coverage of those things. Suddenly a “problem” emerged and he could present the solution. That’s stagecraft. It’s being manipulated by a PR expert.
The infrastructure of belief
Your personal experiences, people in authority, social pressure, culture, imagination, etc. all influence how you form your beliefs. If you question something, where do you start? Think about small, local culture. If you don’t know something, you might look to your local authorities, right?
If you still don’t have answers from personal experience or local authority, most people look to what everyone else is saying and doing (social pressure). Most beliefs are informed by experience, authority, and social pressure.
In the past, as things moved further and further away from us, we had no way—other than the news—to corroborate what we were being told. But the internet gives us access to more boots-on-the-ground views. Someone taking a video on their phone can give us a far different view than what we’re being fed by the mainstream media. That pokes holes in the strength of their authority.
Why do we trust the propaganda? How do we deconstruct what we’ve been told? How do we avoid being controlled? Who do we trust? Michelle helps us learn how to dissect propaganda in this conversation. Do not miss it.
Michelle Stiles is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
================================
RESOURCES MENTIONED
The Crowd: A Study of the Popular Mind: https://www.amazon.com/Crowd-Study-Popular-Mind/dp/1636000169
Propaganda by Edward Bernays: https://www.amazon.com/Propaganda-Edward-Bernays/dp/0970312598
The Four Agreements: A Practical Guide to Personal Freedom: https://www.amazon.com/Four-Agreements-Practical-Personal-Freedom/dp/1878424319
=================================
CONNECT WITH MICHELLE STILES
Smart Sheepe: https://smartsheepe.com/
Get her book and study guide: https://smartsheepe.com/store/p/one-idea-to-rule-them-all-reverse-engineering-american-propaganda-paperback-s39e2-xajmz
One Idea To Rule Them All: Reverse Engineering American Propaganda: https://www.amazon.com/One-Idea-Rule-Them-All/dp/B0BNQMH9J8
Connect with Emerson Fersch
Website: www.CIAdvisers.com
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Checking in with John Waters, Ep #47
I often feel like I’m living two lives. There’s the world I live in that I can see around me. Then there’s the world I can’t see but can feel in my heart. The gap between them seems to be getting wider and wider. Something is amiss. Is there a day of reckoning coming? Is change going to happen?
John Waters is a man who isn’t afraid to speak the truth. He’s able to put words to how many of us are feeling. In this captivating episode of UPThinking Finance™, John Waters returns to talk about the current state of the world, whether or not we’re in a spiritual war, and how to take steps in the right direction.
You will want to hear this episode if you are interested in...
The current state of Ireland (and the world) [2:07]
What can we anchor ourselves to? [12:12]
Is change going to happen? [17:51]
Are we in a spiritual war? [23:18]
The God we found in Alcoholics Anonymous [29:47]
Taking steps in the right direction [41:08]
Live your life to the fullest today [44:07]
Is change going to happen?
It was during the Industrial Revolution that fathers left to work outside of the home. John believes that things were lost in our culture because of this shift. It’s become exacerbated. It’s only now we’ve realized that this was a deliberate undermining of family authority, strengthening states and weakening families.
What’s happening feels like a supreme trick. It feels like we’re being tested and things will go back to “normal” someday. How else can we explain it? We lived in a democracy. Where did it go? Can we have it back? Can the responsible parties fix it?
Can one person come in and “slay the dragon?” Is there a figure sitting in the wings waiting to intervene in the world? John feels physically affected by the state of our world. The only hope he feels is this: Evil cannot win. The world won’t work if evil wins. If you destroy the world and the people in it, it won’t be worth living in.
The God we found in Alcoholics Anonymous
The most important emphasis in AA is that “I am not God.” Most of the woke ideologies have people saying “I am God.”
The God we’ve experienced in AA has given us a clean canvas. The experiences I’ve had where God has manifested himself are what I fall back on. The experiences I’ve had don’t always align with the doctrines of structured religion. That’s the lens I use for personal discernment.
Fundamentally, John is driven by the idea that without a higher power, there’d be nothing. His existence and the complexity of it exist because of a higher power. How can we look at everything and decide that there was nothing before and after this? The program gave John courage. He can believe in things with no rational reality other than experience.
John said something powerful: “Something makes me.” We are not something that was made. We are being made now. We are being generated at this moment. Something does that. It’s a reality that defines his every move. It changes the way you walk in the world. Humanity has lost that.
He believes that prayer is a call to plug into God’s power. When you’re plugged into that, whatever happens to you is meant to happen. Once you surrender, everything will be okay. If God can help me get sober and live a life I haven’t earned, he’s certainly greater than everything we face.
Must a spiritual awakening happen for us to survive?
We are fighting for the spiritual essence of our civilization. We are fighting for the possibility that we will still have that after this is over. Must a spiritual awakening happen for us to survive?
Inevitably, something happens that makes everything okay again.
We must take things one day at a time. We aren’t clinging to sobriety for dear life. All we have is today, so we must stop worrying about tomorrow. We can just do the things we need to do today and move on.
John Waters is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Resources & People Mentioned
The Sibling Society by Robert Bly: https://www.amazon.com/Sibling-Societ...
Not God: A History of Alcoholics Anonymous: https://www.amazon.com/Not-God-Alcoho...
John Waters & Dr Thomas Binder on The Abi Roberts Show: https://podtail.com/en/podcast/tnt-ra...
Episode #38: As Goes Ireland, So Goes the World:
• As Goes Ireland, So Goes the World, E...
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John’s Substack: johnwaters.substack.com
John’s Website: https://www.johnwaters.ie/
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The Voice of Experience, Ep #46
Peter Cavelti is a financial advisor who shares a similar worldview as we do. He was one of the first investment managers to recognize some of the defining trends of our time, such as the ascent of emerging economies and the dramatic reversal of globalization. In this episode of UPThinking Finance™, we have a conversation about his career, his opinion on the US debt, and how he navigates financial planning with the future in mind.
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LISTEN IF YOU ARE INTERESTED IN…
[3:23] Learn more about Peter Cavelti
[7:34] Peter’s thoughts on the Covid conversation
[13:36] The biggest challenge Peter’s had to overcome
[19:32] Is the US debt spiraling out of control?
[28:25] How Peter structures their investment portfolio
[36:42] Navigating the narrative within the industry
The biggest challenge Peter’s had to overcome in his career
Peter points out that the government is in a constant state of overreach. It’s troublesome. What will the socioeconomic results be? Will people go along with it, or start to express themselves? Peter believes that a shift is happening. Government corruption has never been more visible.
The government also likes to divide and conquer. Every few years, the government seems to create an external enemy and an internal enemy to split the people. Then they come up with divisive policies. For the longest time, Russia was the enemy. When the Soviet Union collapsed, China became the enemy. Peter assumes that this will always continue.
He shares that we’re seeing a meltdown of the middle class and a decline in the standard of living. This is coupled with the manipulation of information by the mainstream media.
Is the US debt spiraling out of control?
A lot of things are coming to a head. When you look back at the Post-War order, Peter shares that the United States controlled the IMF, the World Bank, and ⅗ of the UN Security Council Seats. The United States controls NATO, the world’s payment systems (SWIFT), and commodity transactions. The US Dollar is the world’s reserve currency. The US is fighting to maintain this.
The US brought Europe under one umbrella and proposed sanctions to stop what’s happening in Russia. The Europeans endorsed those sanctions without thought. The US is absolutely determined to keep this post-war order.
One of the key creditors of US debt is China. If China became involved in a military confrontation with the US, the US could easily say “We’re not going to repay that debt.” We’re reaching a point where this debt is no longer repayable. The situation could be manipulated dishonestly. Or, the Fed can choose to keep interest rates high and reintroduce inflation. At some point, we’re likely headed for a decline in the US dollar.
America is still in better shape than other countries. We have massive natural resources. The debt levels in other countries are even higher. But it doesn’t matter. The US is the nation of consequence.
Navigating the narrative within the industry
When you’ve been in the business as long as we have, you take on a macro and long-term perspective. Peter will sit with a potential client and explore whether or not they have similar value systems and risk tolerances. Most of Peter’s clients have been with him for over 30 years.
They don’t have conversations like “Explain to me why we’re not in this stock.” They know that he won’t invest in Pfizer or corporations that he perceives to operate on unethical behavior and conflicts of interest. Peter is fiercely independent and strictly avoids conflicts of interest.
Peter Cavelti is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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Center Stage on Wall Street, Ep #40
In today’s interview, you’ll get to meet my business partner: Amy LeNoble. Amy always dreamed of becoming a professional dancer. She attended Loyola Marymount University to pursue her vision, graduating with a bachelor’s degree in dance (while minoring in business administration).
But Amy also developed a passion for finance. Over the last nine years, Amy grew from receptionist to administrative assistant to becoming a Licensed Registered Representative with LPL Financial, the largest independent brokerage in the United States.
Now, Amy is my partner at Capital Investment Advisers. She shares her journey and the value she strives to bring to our clients in this episode of Upthinking Finance™.
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LISTEN IF YOU ARE INTERESTED IN…
[00:00] Center Stage on Wall Street
[4:04] Amy’s dream to become a professional dancer
[13:18] Why Amy made a career shift from dance to finance
[17:44] Would Amy do anything differently?
[28:41] Amy’s experience climbing the ladder in finance
[33:07] Amy’s strategy focuses on building relationships
[46:32] The changes coming to the Upthinking Finance™ podcast
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Why Amy made a career shift from dance to finance
Amy performed with a dance team in Kansas City. Once the tour was over, Amy took a job as a receptionist at a financial firm. She wanted to get paid while still auditioning for dance roles. That’s when she discovered that she enjoyed finance. Her boss encouraged her to move forward in the financial world. But could she shift her life away from focusing on dance?
Dance is the sole reason why Amy knows her capabilities. It showed her that she was capable of practicing until something was perfect. It pushed her past her limits. It taught her resilience and discipline. Dance is the reason Amy has confidence, even though she didn’t reach her goals. It has brought her many successes. She also realized she could love both finance and dance.
Diving into the world of finance
A “Credo” is a set of beliefs that drive your purpose. If you are doing those things, you’re more likely to feel fulfilled. Amy spent time thinking about her vocational credo. Amy realized that she enjoys bringing relief to people—whether it comes from telling the truth, creative strategies, etc.—through discipline, hard work, and creative strategies. In one season of her life, she did this through dance. She sought to help people feel seen, heard, and understood.
She realized as long as she was fulfilling her credo, it didn’t need to be in dance. In finance, she can talk with people about difficult and personal things and bring them relief. She enjoys discussing their finances and developing creative strategies to help them pursue their goals.
Amy’s personality is to give 100% to whatever she embraces. When she accepted that her purpose could be fulfilled in finance, she went all in. She was an administrative assistant for two years before she transitioned to an office manager. In her fourth year with my office, she became a financial advisor and in year five became a partner.
Amy’s strategy focuses on building relationships
Every client we work with is inherently valuable. We value the relationship above the money. We place the relationships first in our interaction with clients. We serve our clients. Money is the means to an end, not an end. If someone only cares about making money, Amy doesn’t believe she’d be a good fit.
If money is a part of attaining your goals, you’ve found a great partner in Amy. She’s relationship-focused, which leads to a multitude of successes often not talked about in the industry.
Amy strives to get to know her clients. She wants to learn about their life, families, goals, and even fears. Her goal is to bring value to the whole person by providing confidence about your financial plan.
We’re getting referrals, meeting new people, and helping people prioritize their goals. It’s because we’ve built valued relationships.
Amy LeNoble is a Registered Rep with securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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CONNECT WITH AMY LENOBLE
Capital Investment Advisers: http://www.ciadvisers.com/
Connect on LinkedIn: https://www.linkedin.com/in/amy-lenoble-4785ba119/
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Website: www.CIAdvisers.com
CBDCs and the Coming Reset with Melissa Ciummei, Ep #35
Is the dollar going to spiral out of control before it fizzles out? Could Central Bank Digital Currencies (CBDCs) be the financial system of the not-too-distant future? What would be the long-term ramifications of CBDCs? Melissa Ciummei—an independent investor and researcher—joins me in this episode of Upthinking Finance™ to discuss the implications of CBDCs and the global move toward digitalization.
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LISTEN IF YOU ARE INTERESTED IN…
[00:00] CBDCs and the Coming Reset
[1:56] Central Bank Digital Currencies (CBDCs)
[6:00] The long-term ramifications of CBDC
[10:32] Who is controlling the CBDC?
[13:14] Are there obstacles to the central bank agenda?
[22:41] Is this takeover actually going to happen?
[35:48] What can we do to prevent a global currency takeover?
[39:17] How we can cultivate more awareness of what’s going on
[44:51] Where is God in all of this? How can we remain hopeful?
Why are Central Bank Digital Currencies (CBDCs) being introduced?
The Bank of International Settlements (BIS) was established in 1930 and is owned by 63 central banks representing countries from around the world. The mission of the BIS is to support central banks' pursuits of monetary and financial stability through international cooperation. They represent themselves as independent but Melissa believes that’s untrue.
Melissa points out that since 1971, when the US currency moved away from the gold standard, it has been a race to the bottom. Every fiat currency fails. Everyone returns to zero. She emphasizes that the dollar will be no different. To keep things going, a new currency is being proposed in the US: Central Bank Digital Currencies (CBDCs).
Melisa believes this currency is just a cover for a system where they can dictate where and when you transact within the economy. It’s a removal of freedoms. And when you don’t have the freedom to make your own transactions, every other freedom will fall away.
Melissa thinks that their only competition is the crypto market—and that it’s easy to weaponize taxation to crush crypto. They’re also starting to close the on-ramps onto the exchanges. What does that mean? To use crypto, you tend to have to convert it back to a fiat currency and buy what you need to buy.
If they close the off-ramps, your crypto is stuck as digital air, unless it’s being used as currency. Melissa believes that they don’t want to close the off-ramps because then people will be forced to use it as currency and it will become a threat.
Melissa and I take a deep-dive into the world of central banks, CBDC, digital identities, and the ramifications of it all in this episode. Give the whole thing a listen!
Melissa Ciummei is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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RESOURCES MENTIONED
The BIS: https://www.bis.org/
The IMF: https://www.imf.org/en/Home
The Better Way Conference: https://betterwayconference.org/
Russell Napier: https://russellnapier.co.uk/
WEF: Identity in a Digital World: https://www3.weforum.org/docs/WEF_INSIGHT_REPORT_Digital%20Identity.pdf
Note about the BIS: The content on that page is Established in 1930, the BIS is owned by 63 central banks, representing countries from around the world that together account for about 95% of world GDP. Its head office is in Basel, Switzerland and it has two representative offices: in Hong Kong SAR and in Mexico City, as well as Innovation Hub Centres around the world. They are not independent if they are owned by the global central bank system.
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Follow on Twitter: https://twitter.com/KSCUBKEE
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Website: www.CIAdvisers.com
A View From The Cockpit, Ep #21
Steve Knight has been in the aviation industry for 50 years. He holds an airline transport pilot certificate, a commercial pilot certificate, a flight engineer certificate, and a certified flight instructor certificate. He’s flown more than 22,000 hours on seven types of aircraft, all over the world. He’s been Chief Pilot, Director of Operations, Fleet Captain, and Standards Captain. He spent 39 years at United Airlines, flying the Boeing 777 and 747, before retiring. In this special episode of Upthinking Finance™, Steve Knight shares a view from the cockpit.
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LISTEN IF YOU ARE INTERESTED IN…
[00:00] A view from the cockpit
[2:20] The importance of standard operating procedures (SOPs)
[12:05] Steve’s experience(s) navigating problems outside the cockpit
[14:03] Why developing friendships with coworkers can be difficult
[15:33] Is a 40-year tenure with an airline common?
[17:19] When the government no longer subsidized air travel
[20:53] The impact of technology on aircraft
[25:14] How Steve reconciles technology with experience
[29:07] Two crash landings that changed the industry
[34:14] The most challenging airports for pilots
[41:08] Steve’s favorite views from the cockpit
[45:20 How Steve’s travel has changed his view of the world
The importance of standard operating procedures (SOPs)
Aircraft live and die by standard operating procedures (SOPs). On any given day, you might be flying a long-haul international trip with three people you’ve never flown with before. You have rigid SOPs so everyone knows what to expect. SOPs cover everything from starting the engine, to taxiing, to take-off, to landing, and everything in between.
Before takeoff, the pilot usually addresses the passengers to share what to expect (how long the flight will be, the weather, and whether or not they expect any rough air). Typically, they have four pilots on the long haul flight from LA to Sydney that Steve ended his career flying. There are usually 15 flight attendants and 250–300 passengers. It’s a small city going to 35,000 feet, which is why procedures are of paramount importance.
The impact of technology on aircraft
Steve started flying when they still used analog instruments. He started with dials and gauges. Now, the cockpit is covered in computer screens. Pilots went from primarily flying an airplane to primarily managing an airplane. It’s a large safety improvement but a huge learning curve. Steve emphasized that pilots need to be able to fly both ways.
Since he started flying, they’ve implemented Traffic Collision Avoidance Systems (TCAVs) that will alert pilots if there’s a mid-air conflict. The computer not only tells them to descend or climb but the two airplanes can communicate with each other so one plane climbs while the other descends.
When Steve first started as a flight engineer, he manually tracked when the plane took off and landed. Now they have ACARS—Aircraft Communications, Addressing and Reporting System. So when you look at the app on your phone to see when your flight will land, that information is sent automatically.
How else has improving technology impacted the airline industry? Listen to find out!
Steve’s favorite views from the cockpit
Steve has flown all over the world for the last three decades. On a route from Europe to the West Coast of the US, he’d often see the Northern Lights across Canada, which was incredibly beautiful. When the volcano in Iceland erupted in 2010, they could see the volcano erupting in the distance.
Steve was flying a charter of camera crews to the Beijing Olympics in 2008. He’d flown this many times, which usually went over the north pole and you come in over Mongolia into Beijing. The smog is typically so bad that you don’t see the airport until you’re half a mile away.
But Beijing was so concerned about the optics of hosting the Olympics that they shut down factories, didn’t let people drive their cars, and implemented other things to reduce the smog for the Olympics. So when Steve flew into Beijing on that trip, he could see the whole city from 50 miles away—a site to behold.
Don’t miss this episode for a fascinating glimpse into the world of aviation from the lens of a pilot!
Steve Knight is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.
Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.
The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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CONNECT WITH EMERSON:
Website: www.CIAdvisers.com