The Coming Economic Crash – How We Could Avoid it (Transcript)

Today’s Broadcast – by Bob Barney

The world is in an economic crisis. Unlike probably it has faced in many years. America is not immune. Its crisis today economically is at, probably, one of the worst times in its history…we don’t realize it yet

…because of the fact there is credit cards, welfare, social security. Things that we did not have in place during the Great Depression of the 1930’s but we really in many ways are worse off then we were in the 1930’s. What things should a leader do in America as a world leader at bat, to change this economy? Well I have a few basic ideas that I believe others talk about, but maybe I could explain it a bit better why I think the America and world economy could be turned around into a fast paced, growing economy; much like it was…even though people don’t want to admit it, the way it was under donald trump.

 There are some simple things that could help bolster the economy. The bloodstream of the world, the bloodline if you will, is oil. YOu can talk about all the electric vehicles you want and solar energy…but the world runs on oil.

That is what goes through the heartbeat of the world of America..of the western world, especially. Even the 3rd and 4th world all depend on the price of oil.

When Joe Biden stopped all the oil drilling that DJT started, he put America on a course to have high oil prices, recession, and inflation.

Just the one executive order alone, on oil pricing. To compound this problem, when he sold off all of our oil reserves to the lowest level since it started and basically the winner there was CHINA…not a big surprise. Noone did the mathematical calculations. I took the number of barrels of oil that were sold to China and divided that into the total dollars. At the time oil was selling for $62 a barrel but CHina bought it for 33 to 37 a barrel. That was a scandal of the Biden administration that none of the media caught…not the media on the right either and of course the left would never have caught that. WE actually sold our oil reserves to China for half the price, almost of what oil was selling for at the time. That should make you wonder if JOe Biden is an agent of communist China or not. BUt the first thing that a leader/president should do is allow American oil to be discovered and to be extracted from the ground. That would do so much to lower recession…lower inflation…and to get the economy moving. Again, the bloodline of the world is oil. 

It would basically do away with every war that is going on right now in the world. If oil was at its price of let’s say, $25 dollars a barrel, which is what it should be instead of 90, then you would have the Middle East tensions diminished; Iran would not have oil money to fund a war. Of course, we cannot have an administration keep paying Iran 100’s of billions of dollars without expecting that that would not go to a war machine, but if the price of oil was to drop at its lowest level since DJT…there was a day under the Trump admin when oil was actually -38 a barrel. You had to pay 38 dollars if you wanted to sell it that day, but 25-33 dollars a barrel was where it was for years under DJT. With that kind of low oil prices, the best spots of the world, the Putin’s, the middle east, the Io tola, the crown princes and kings of the oil producing Arab nations, Venezuela, all the enemies of America would have no income to be able to wage wars and finance terrorism around the world. SO just by allowing America to produce the oil that we have which we have a 500-year supply which is something nobody wants to tell you, but it is true, we have that many years at least…that we could help the recession, we could help lower inflation, and we could help stop the wars going on. That is only one thing. 

There is a second thing…

The IRS…is absolutely an organization of our government that has long exceeded its duty and time. In fact, in my opinion, there should have never been an income tax. An income tax is stealing other people’s money. To take money from people who work hard and give it to people that don’t want to work, that is what’s happened and that is why the protestant work ethic of America has declined as well as the work ethic of all socialist communist countries of the world which is the majority, nobody wants to work. there is no incentive to work. What would you do to replace the income tax? You do have to run the government although I believe the government is way over bloated. But here are the fallacies of the income tax. For example, there are millions now of illegal aliens in AMerica. They do not have credit cards, they do not have legitimate income most of the time, they are paid under the table. It is a cash business, there is no income tax or social security  or medicare tax being paid. You are paying it if you have a job, but some 3- to 50 to million Americans are not paying any taxes. THink about that. So what is the solution? Well, the solution is to do away with the IRS, to do away with the income tax. First, before you do what I suggest, you have to abolish the IRS and the income tax with an amendment which says the income tax can no longer be passed by congress by any reason. After that is accomplished you insert what is called The Fair Tax. I have been a proponent for the Fair Tax for many years. It is just what it says it is, it is FAIR.

When you go and purchase anything, you would pay whatever the rate would be, which I believe most economists say 15 percent on every goods and service you buy would be your tax. You would pay no income tax, social security or med tax, all of it would come from the 15 percent sales tax…a national sales tax. However, there is a good point to this for the poor people, in the plan for the fair tax, there is a provision that every single person in your household, let’s say it is a family of four, mother, father, and two children…. they would receive a check every month for 2000 dollars. 500 a person. That would make up for all of the sales tax they had to pay for when they purchased food. It would be on everything you bought, a new car, a new suit, a new lawn mower, food, clothing, it would be a 50% tax. If you do the math and you are getting 2 grand a month up front in cash, then you could see easily that it would be pretty hard to buy enough to pay 2000 dollars. SO the average family would live above their means would actually save money, in general.

Now here is the nice thing about the Fair Tax. We talked earlier in this broadcast about the 50 mil or more people who do not pay any tax because they are involved in an underground cash society. Now there is talk about doing away with cash and going to a digital currency which would be a disaster to our economy, but let’s say for example here are the people you don’t think about…not only the illegal alien working under the table and taking jobs away from hard working Americans that pay well because their Mexican or Latin counterparts can work at half the price because they aren’t paying any taxes. Here is the next thing…drug dealers, they work in cash. I don’t think most people go down to their local corner drug pusher and hand them a credit card and say, hey, I need to buy some crack cocaine. No, they give them cash. Then he gives the cash to the pusher whom he gets his supply from in cash. It goes all the way back to the source who makes the most money on drugs and their dealing in cash. There are no taxes involved in any of this. So, you would be able to say put a back tax on some of the drugs someone is buying, but this is something you would be taxing. The person who is buying the 100-thousand-dollar Mercedes and 100 thousand worth of gold watches and chains around their neck, they would be paying at least 15% now into the government as a sales tax. So, the great drug money underground would be paying their taxes as well.  There are many different underground economies going on out there and you know if you are as hard of a working American as I am.  If you were to take what people spend instead of how they earn what they work for then you would increase production because a person could now make 100 thousand a year and theoretically pay no real tax. Because they would get more than they would buy if they were frugal, from the government and that 500 dollar a person checks a month is what I am talking about. Think about that! Think about the Americans now that could actually afford things and get this country back. SO, drilling all the oil we can, going from an IRS income tax to a national sales tax, those two things alone would give us an economy we haven’t seen in our lifetime that we haven’t seen since the days before the income tax, let’s face it, the income tax, is a productivity killer. 

I know many people, my brother for example, when he worked before he retired, many people turned down overtime because the tax bracket that it puts them in would take away any of the extra earnings they would make, why bother? That is the problem with income tax. It rewards laziness and penalizes the industrial person. 

Now I am going to more in other broadcasts to magnify this with a story from Ronald Reagan called The Little Red Hen, we won’t get into it here, but it is a cute story from the 1970s from before he was running for president, they would have a 3-minute segment and at the 3.5 half minute mark, Reagan was able to make a point that was indisputable. He writes all of this by himself, no speech writers like all the empty suits have today. The Little Red Hen. I will start that tomorrow at the beginning of part 2 of the broadcast. You will see how socialism and communism destroys productivity. Because the truth is, people work hard when they get rewarded. That’s what capitalism is about. All communist countries FAIL. They will always FAIL.  

You know, even in the Bible it talks about the end times Beast…the antichrist, the beast that comes out of the king of the north, or Europe, he is going to have a government like no other government in history before him. It will be simply stated in Daniel that they redistribute wealth of what they plunder amongst the elite and that redistribute wealth is communism. His government, the antichrist gov does not last very long. 3.5 years of the tribulation is a little bit more than that, maybe 7 years but not that long because communist countries can survive only as long as they are conquering other productive countries and stealing what they have. Think about that. The only way to keep money coming into a nation, a communist nation, for those who do not want to work is to steal from the people you invade. This is why you see all these communist and fascist countries invading other nations. They don’t do so because they want the land, they do so because they need the productivity and the resources from other countries because their country has lost its work ethic through their communist government. Venezuela is a perfect example. Look how moderate and wealthy Venezuelan was just 25 years ago before Chavez who destroyed the country and the people’s ability to make a living. He turned it into an absolute 3rd and 4th world poverty nation. all because of communism. Nothing but God’s government has ever beaten what our forefathers brought us with a capitalistic type of government, and they did so without an income tax for some 150 years because they understood that all you needed what sales taxes and tariffs to run the government and at the same time you don’t need all these wasteful spending that the government participates in. 

There is a great story, and I may put it in tomorrow with the Red Hen, that Davy Crockett stood up in congress and voted against aid to a military widow. That sounds awful to us until you read the entire story. It is a great read and I have read it on the plain truth over the years, it is called Not Yours to Give. It talks about congress who loves to give away taxpayer’s money instead of their own money. That is what communism does. It’s a great sin. Communism breaks part of the money of the ten commandments. It covets their neighbor’s wealth; it steals from them. And in many cases, it actually kills those who oppose it. There are 3 commandments right there and all communist countries also refuse to believe in a God, and there is a main one right there being broken.

I do want to continue in another broadcast on this economic program that is leading the world into destruction…into a great depression, greater than this nation of this world has ever seen since the dawn of mankind.

What results from that is the emergence of a despot out of Europe who is called the antichrist, or the King of the North and it also results in the formation of the King of the South, a vast moslem nation network under a type of antichrist but not thee antichrist as the leader of the King of the South.

We hope you go to the magazine on our website at www.theplaintruth.com and visit our Message Board . I hope you tell your friends about us as there is a lot of sense being made here, if people just do some simple things, this economy could be turned around quickly.

Until we take up with the little Red Hen and Davy Crockett, we are going to say goodbye today. Thank you for listening.