1:10:23 Open up discussion with you about what's really going on with Russia with Iran and China And the US of course Secretary of State Hillary Clinton was in Russia the other day, and she's not just there to check out the borscht Okay There's reasons why these people travel to those countries much as she likes more She's totally into that shit. As she said I so into that shit Gazprom of course just closed a 25 billion dollar deal with China to deliver gas to them. And this is where Iran comes into play because, I think we can learn from a little bit of history that the whole idea now they're not calling it weapons of mass destruction but they are calling it nuclear devices
1:11:15 and that Iran is going to blow us up, and they're gonna blow up Israel. And they are going to nuke everybody! We have to stop them, we have to sanction them... All this crap that's going on. The Russians are basically saying I don't think so because were actually doing some pretty good business you know? And we want to keep things kinda cool but who needs the Iranian... Iran by the way has the world's largest natural gas reserves, estimated 991 trillion cubic feet. And who needs that? Who needs that John? The Europeans need it. Yeah the Europeans do need it They need it desperately and there is actually a shift going on I'm seeing in all the newspapers now that oil is above 70 bucks its borders at 73 75 somewhere in that region
1:12:08 At an all-time low at the moment, gas. Natural gas is at an all time low and I think that what's really going to happen is a lot of countries are desperately trying to switch to natural gas because it's just that much cheaper. And let's face in the United States we got tons of natural gas. We wouldn't need anything from anybody. We could completely be self sustainable I think.
1:12:45 oil deposits that is almost as big as Saudi Arabia, that hasn't even been touched. So let's put the pieces on the board it's undeniable now and there are just too many really serious reports coming out that the oil trade is now being switched to euros and the yuan and baskets of currencies that include gold I mean everyone's talking about it No matter how much Gibbs stands up on the podium and denies that it's happening. Everyone is switching to stronger currencies. By the way, does Gibbs seem coked up to you? Totally! Maybe he is on E. Sometimes he looks like he is on an MDMA trip
1:13:25 But he has a kind of voice that's not, Doc can breathe through his nose a lot of the time and when he talks there is nothing coming out of the nose thing. So you guys have got that kind of sound do you know what I'm saying? We should totally pay attention to that we should look if he is doing some nose touching now I'll make my mission for this week so Iran is becoming incredibly important meanwhile in the US if we actually want to switch to building this whole new gas infrastructure we need to finance it We really need to finance it and who's going to do that? That's typically China, who aren't financing it anymore. So we're kind of in this race I think somehow
1:14:05 for the US to switch to natural gas since our currency is not even slowly but moderately quickly becoming no longer the reserve currency of the world, that's the euro which by the way is not all that good for Europe. That has its own implications and problems. Well I've always believed that...I thought this was going to happen last time the dollar folded and if you remember about a year or so, couple years ago when all of the sudden the pound fell like a rock and the euro was falling really fast and the dollar was picking up steam. Remember that? And then you know boom it turned right back around The dollars in the toilet, the euros are $1.47, $1.50 That means you have to pay 50% more for stuff in Europe It's ridiculous! Then the pound is kind of holding its own at about $1.60
1:14:50 So, the dollar starts collapsing again and we're supposed to have a strong dollar policy. How about this for an interesting scenario? The world changes its – the dollar keeps kind of declining and it looks weak and weak and weak so I said screw the dollar. We're losing our butts being in this thing. Let's switch over to the euro by high sell low. So, switch over to the Euro and do all these contracts in Euros with the oil so that let's say you buy X amount for 2 euros. And then all of a sudden, once that's all established the dollar skyrockets in value because you can turn it up and down through different kinds of policies. The next thing we're getting our oil at half price because it's all well I'm sorry if you want to be with the euro! Then we end up getting a really good deal economy gets cranked up again and were back on top and everybody realizes that we've screwed the world financially once more which were really good at by the way have lotsa confidence so we can do that kinda thing
1:15:52 And by the way, I'd just like to point out when you hear all this great talk about a jobless recovery which is ludicrous. A jobless recovery because the Dow was at 10,000 but if you calculate the dollar value, the Dow is really like it's 7500. It's not the same 10000 as it was two years ago. It's a different 10000 because the dollars just worth that much less. You still beside the point this thing is overpriced but the jobless recovery thing is just and they keep talking about it as if it was a good thing. It's a meme, yeah just trying hey it's good hey we our economy has recovered too bad you can't eat motherfucker! The US Federal Energy Regulatory Commission just stated at the World Gas Conference in Buenos Aires that the U.S may never need new coal or nuclear plants ever again based upon
1:16:47 Our switch our Possible potential switch to natural gas and by the way cars run on that too. Yeah, it's good stuff You can do a lot with it and I think it's pretty clean John am I wrong? No is an outstanding product I think it's so biased. In fact, you could actually light your house with it. They used to as a matter of fact years ago before electricity everything was lit. Gas lamps yeah. Have a little gas lamp in the house So this is the kind of stuff that we consistently look into. We have a couple things that we have to do this week. I will be watching a lot of C-SPAN 3 which is only online by the way Watching all Robert Gibbs presentations to see if he's coked out or not and I actually take that on as a challenge