OIL | The Blood of the World’s Economy (Transcript)

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The world is in an economic crisis, unlike probably it has faced in many years. America is not immune. America’s economic crisis today is at probably one of the worst times in its history. We don’t realize it yet because of the fact that there’s credit cards, there’s welfare, there’s social security. Things that we did not have in place during the great depression of the 1930s. But we really in many ways are worse off than we were in the 1930s.

What things should a leader do in America as a world leader at that to change this economy? Well, I have a few basic ideas that I believe others talk about, but maybe I could explain it. Why I think the American and the world economy could be turned around into a fast-paced growing economy, much like it was, people don’t want to admit this under Donald Trump. There are some simple things that could help bolster the economy. The bloodstream of the world, the bloodline is oil. You can talk about all the electric vehicles you want and solar energy and whatever you want to say, but the world runs on oil. That is what goes through the heartbeat of the world of America, of the Western world, especially, but even the third world and fourth world all depend on the price of oil. So when Joe Biden stopped all the oil drilling that Donald Trump started, he put America on 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 our oil reserves to the lowest level in, I think, since it started, and basically the winner there was China. Isn’t that a big surprise? No one did the mathematical calculations, but I did.

I took the number of barrels of oil that was sold to China and divided that into the total dollars. And at the time, oil was selling for about $62 a barrel, yet China bought it for about $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. Of course, the media on the left would not have caught that. But 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 people wonder if Joe Biden is an agent of communist China or not. But the first thing that a leader, a president should do is allow American oil to be discovered and to be extracted from the ground. That’s the first thing. That would do so much to lower recession, to lower inflation, and to get the economy moving. Again, the bloodline of the world is oil. But that’s only one thing. That thing would do a lot, by the way. 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 a barrel, and that’s really what oil should be right now instead of $90. If oil was $25 a barrel, then you would have the Middle East tensions diminish because Iran would not have oil money to fund a war.

Of course, we can’t have an administration keep paying Iran hundreds of billions of dollars and not expect that to go towards a war machine. But that’s another topic. But if the price of oil was to drop at its lowest level since Donald Trump, there was a day under the Trump administration when oil was actually negative $38 a barrel. You had to pay $38 if you wanted to sell it that day. But $25 to $33 a barrel was the price for a long time under Donald Trump. With that kind of low oil prices, the despots of the world, the Putin’s, the Middle East Ayatollahs, 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 Americans to produce the oil that we have, which we have a 500-year supply, that’s something nobody wants to tell you, but it’s true. We have a 500-year supply at least of oil in America that we could help the recession, we could help lower inflation, and we could stop the wars going on. That’s only one thing. There’s a second thing that ought to be forced upon the American people. The IRS is absolutely a organization of our government that has long exceeded its duty in time. In fact, in my opinion, there never should have been an income tax. An income tax is stealing other people’s money. That’s all an income tax is, is to take money from people who work hard and give it to people who don’t want to work. That’s what’s happened, and that is why the Protestant work ethic of America has declined, and the work ethic of all the communist socialist countries of the world, which is the majority today, are in decline.

People don’t want to work. People have no incentive to work. What would you do to replace the income tax? You do have to run government, although I think government’s way overbloated. But here’s some of the fallacies of an 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’re paid under the table. It’s a cash business. There’s no income tax being paid. There’s no Social Security being paid. There’s no Medicare tax being paid. You’re paying it if you have a job, but probably some 30 to 50 million Americans are not paying any taxes. Think about that. So what’s the solution? Well, the solution is to do away with the IRS, to do away with the income tax, and do, but first, before you do what I want to suggest here, you have to abolish the IRS and the income tax with an amendment that says the income tax can no longer be passed by Congress for any reason.

After that’s accomplished, you insert what is called the fair tax. I’ve been a proponent of the fair tax now for many years. The fair tax is just what it says it is. It’s fair. When you go purchase anything, you would pay a whatever the rate would be. I believe most economists believe that 15 percent on every goods and service you buy would be your tax. You would pay no income tax. You would pay no Social Security tax. You’d pay no Medicare tax. All of that would come from that 15 percent sales tax, a national sales tax. However, there’s a good point about this for the poor people. In the plan of the fair tax, there is a provision that every single person in your household, let’s say it’s a family of four, a mother, a father, and two children, they would receive a check every month for $2,000, $500 a person.

That would make up for all of the sales tax they had to buy or pay for, I should say, when they purchase food. Because it would be on everything you bought. You buy a new car, you buy a new suit, you buy a new lawnmower, you buy food, you buy clothing, anything you buy, it would be a 15 percent tax. But if you do the math and you’re getting $2,000 a month up front in cash check, then you could see easily that it would be pretty hard to buy enough to pay $2,000. So the average family who lived not above their means would actually probably save money in general. Now, here’s the nice thing about the fair tax. We talked earlier in this broadcast right now about the 50 million or more people who don’t pay any tax because they’re an underground cash society. Now, there’s talk about doing away with cash, going to a digital currency, which would be a disaster for the economy. And I’ll get into that in a minute. But let’s say, for example, there’s 50 million, I think, more. Here are the people not paying tax that you don’t think about. Not only the illegal alien working under the table, taking jobs away from hardworking Americans who can’t get jobs that pay well because their Mexican or Latin counterparts can work at half the price because they’re not paying any taxes.But here’s the next thing. Drug dealers. Drug dealers working cash.

That would make up for all of the sales tax they had to buy or pay for, I should say, when they purchase food. Because it would be on everything you bought. You buy a new car, you buy a new suit, you buy a new lawnmower, you buy food, you buy clothing, anything you buy, it would be a 15 percent tax. But if you do the math and you’re getting $2,000 a month up front in cash check, then you could see easily that it would be pretty hard to buy enough to pay $2,000. So the average family who lived not above their means would actually probably save money in general. Now, here’s the nice thing about the fair tax. We talked earlier in this broadcast right now about the 50 million or more people who don’t pay any tax because they’re an underground cash society. Now, there’s talk about doing away with cash, going to a digital currency, which would be a disaster for the economy. And I’ll get into that in a minute. But let’s say, for example, there’s 50 million, I think, more. Here are the people not paying tax that you don’t think about. Not only the illegal alien working under the table, taking jobs away from hardworking Americans who can’t get jobs that pay well because their Mexican or Latin counterparts can work at half the price because they’re not paying any taxes. But here’s the next thing. Drug dealers. Drug dealers working cash.

I don’t think most people go down to their local corner drug pusher and hand them a credit card and say, I need to buy some crack cocaine. No, they give them cash. And that guy takes the cash and he gives it to his pusher. He gets his supply from in cash. And it goes all the way back to the source who makes the most money on drugs. And they’re dealing in cash. There’s no taxes on this. None whatsoever. So you would say, well, you’re never going to be able to put a VAT tax on the drug somebody’s buying. No, but this is what you would be taxing. That drug pusher, the guy who’s buying the $100,000 Mercedes, and they’re buying $100,000 worth of gold watches and chains around their neck because they spend a lot of money, 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 it if you’re a hardworking American, as much as I do. And so if you were to tax what people spent instead of how they earned what they worked for, then you would increase production because a person could now make $100,000 a year and theoretically pay no real tax because they’d get more than they would buy if they were frugal from the government.

And that $500 per person check a month. Think about that. Just think how many Americans now could afford things, spend, produce in this country, and get this country going. 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 have not seen in our lifetimes. We probably have not seen since the days before the income tax. Because let’s face it, the income tax is a productivity killer. I know many people, my brother, when he worked before he retired, many people turned down overtime because the tax bracket that it puts them into would just take away most of the extra earnings they would make working overtime. Why bother? And that’s the problem with an income tax. That rewards laziness and penalizes the industrial person. Now, I am going to probably in tomorrow’s broadcast to magnify this with a story from Ronald Reagan called The Little Red Hen, and we’re not going to get into it here. But it’s a cute little story that Ronald Reagan, back in the 1970s before he was running for president, did a radio show about five minutes a day. And the actual broadcast, I believe, is three and a half minutes without commercial.And then at three and a half minutes, Reagan was able to just make a point that was indisputable and wrote all of this by himself. He had no speechwriters like all the empty suits have today. And it’s called The Little Red Hen.

I’m going to start that tomorrow’s broadcast with that. And 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. Do you know, even in the Bible, it talks about in the end time, the beast, the Antichrist, the beast that comes out of the King of the North or Europe. He’s going to have a government like no government in history before him. And it’s going to be simply stated in Daniel that they redistribute to wealth of what they plunder amongst the elite. And that redistributive wealth, of course, is communism. And his government, the Antichrist government does not last very long. Three and a half years of the tribulation, maybe a little bit more than that, maybe seven years, but not very long. Because communist countries can survive as long as they are conquering other productive countries and stealing what they have. Think of that for a minute. Because the only way to keep money coming in to people, to a nation, a communist nation at that, that does not want to work is to steal from the people you invade.

I’m going to start that tomorrow’s broadcast with that. And 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. Do you know, even in the Bible, it talks about in the end time, the beast, the Antichrist, the beast that comes out of the King of the North or Europe. He’s going to have a government like no government in history before him. And it’s going to be simply stated in Daniel that they redistribute to wealth of what they plunder amongst the elite. And that redistributive wealth, of course, is communism. And his government, the Antichrist government does not last very long. Three and a half years of the tribulation, maybe a little bit more than that, maybe seven years, but not very long. Because communist countries can survive as long as they are conquering other productive countries and stealing what they have. Think of that for a minute. Because the only way to keep money coming in to people, to a nation, a communist nation at that, that does not want to work is to steal from the people you invade.

And there’s the first one right there. And so anyway, until tomorrow, this is Bob Barney, and I want to continue on this economic program that is leading the world into destruction, into a great depression, greater than this nation or this world has ever seen since the dawn of mankind. And what results from that is the emergence of a despot out of Europe who’s called the Antichrist or the King of the North. And it also results in the formation of the King of the South, a vast Muslim nation network under a type of Antichrist, but not the Antichrist as the leader of the King of the South. So again, this is Bob Barney with theplaintruth.com. And I hope you go to the magazine on the web every single day. We have your health today. We have a message board, and we have these podcasts. And I hope you tell your friends about these podcasts. And I think you’ll find that there’s a lot of sense being made here. And if people would just do some simple things, this economy could be turned around quickly. So until tomorrow, when we take up with the little red head and maybe Yours Not to Give by Davy Crockett, we’re going to say goodbye for today. Thank you for listening.