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sign up for my free e-mail newsletter. it's imperative we stay in touch with each other. last night, i was reading a story on zerohedge.com. i want to give you the basic gist. the thing we have going on can only end in one of four ways. one, the debt trap. this is where you keep spending money and borrowing more money. we're doing that now. you try to spend your way out of it. two, hyper inflation. print your way out of it. we are doing a little of that one, too. here is a unique one you probably never heard of. austerity, but in conjunction with economic growth. for those of you who is no longer familiar with economic growth that's when somebody besides government creates jobs that creates something of
best friend, like we have canada. we trade with them. we don't give them money and don't promise them anything and we do well. if you teach countries to be depep dept on us they're dependent economically or militarily it does them hard. i worry about israel right now
here is what -- exactly what i mean. maybe you can answer directly. what i mean what de tocqueville talked about that people would become so rich they would kick the doors closed for others. soros is doing it now. kicking the door closed for other people. when the people like rockefeller got so wealthy, that is what they did. can you -- is there any regulation on that? >> somedy and some did not. carnegie gave some of the money back. i don't think bill gates as a monster or warren buffett as a monster so it has to do with morality. that's what i agree. the morality of the people. even if there were no income taxes and they got wealthy. if they didn't cheat, if they didn't get benefits from the government, being wealthy is nothing wrong with that. if you get wealthy because they get contracts from the government or they get loans, low loans from the federal reserve and the banks are
difficult. if thar reason i predict we'll continue downhill, the deficit is going to be the burden we can't handle. we will have a currency reduction because we rely on the federal reserve. the federal reserve is a facilitator. they claim it's the congress and they spend too much money and forced to do these things but the fed couldn't create money out of thin air to buy treasury bills congress would be forced to do something. interest rates would rise and that would be harmful. so it would be on congress' shoulders to do something. we keep spending and the federal reserve accommodates. we can't let interest rate goes up so they print like crazy. amazing that it works as well as it has for so long. it doesn't mean it will last forever. that's why people are upset because more and more people are starting to realize this is coming to an end. >> glenn: may i ask you one question i haven't been able to figure out.
wait. here is what -- exactly what i mean. maybe you can answer directly. what i mean what de tocqueville talked about that people would become so rich they would kick the doors closed for others. soros is doing it now. kicking the door closed for other people. when the people like rockefeller got so wealthy, that is what they did. can you -- is there any regulation on that? >> somedy and some did not. carnegie gave some of the money back. i don't think bill gates as a monster or warren buffett as a monster so it has to do with morality. that's what i agree. the morality of the people. even if there were no income taxes and they got wealthy. if they didn't cheat, if they didn't get benefits from the government, being wealthy is nothing wrong with that. if you get wealthy because they get contracts from the government or they get loans, low loans from the federal
best friend, like we have canada. we trade with them. we don't give them money and don't promise them anything and we do well. if you teach countries to be depep dept on us they're dependent economically or militarily it does them hard. i worry about israel right now because of what has happened in the middle east and us going bankrupt. >> glenn: gotcha.
difficult. if thar reason i predict we'll continue downhill, the deficit is going to be the burden we can't handle. we will have a currency reduction because we rely on the federal reserve. the federal reserve is a facilitator. they claim it's the congress and they spend too much money and forced to do these things but the fed couldn't create money out of thin air to buy treasury bills congress would be forced to do something. interest rates would rise and that would be harmful. so it would be on congress' shoulders to do something. we keep spending and the federal reserve accommodates. we can't let interest rate goes up so they print like crazy. amazing that it works as well as it has for so long. it doesn't mean it will last forever. that's why people are upset because more and more people are starting to realize this is coming to an end. >> glenn: may i ask you one question i haven't been able
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