America’s #1 Asset? Dollars vs Gold vs Bitcoin

Hey, I'm John Pennington. Nice to be here with you guys. I love Black Card. It's my favorite group. I speak at a lot of, a lot of groups around, around the country, and it is a blast to talk to Black Card members. Okay, what's the number one product in the United States? We're gonna answer that today. What's the number one product in the United States? Number one product of the United States. Okay, let's talk Venezuela. What is it? Is it oil? Is it gold? Is it the Navy, the military? Is it Bitcoin? No, it's bigger. The number one product is bigger than all those combined. There's two great, great, great, incredible deals. We bought Alaska for $7.2 million. Incredible real estate deal. Russia needed to sell it because we, you know, anyway. Louisiana purchase, 3 cents an acre. Incredible deal. Fantastic deal. But there's a deal bigger than that. It's bigger. It's called the eurodollar. It's the best deal ever, ever, ever that I can imagine. It's so big you can't. It's just It's just crazy. Okay? The euro. Don't confuse the euro with the euro dollar. It's not the same thing. When you hear people talk about the euro dollar, it's not the euro. The euro is fiat currency in Europe. The euro dollar are US dollars outside of the Federal Reserve System. When Turkey borrows six billion US dollars from Iran, Saudi Arabia, Turkey borrows six billion US dollars. That's outside the system of the United States. They have to in the future go and accumulate US dollars to pay that back, which creates insatiable demand. There are estimated €30 trillion in the world. They're outside, countries are buying back and forth. They're going back and forth. It's going back and forth everywhere. It's crazy huge. It is one of the best marketing of a product because The number one product ever invented is the US dollar. It's a product just like any other product. It comes off the line. And guess what? Not by the millions, not by the— it's not by the billions. They make these by the trillions. And you know why I know it's the best by definition? Because a trillion will come off the conveyor belt and people will lie, cheat, and steal and risk their life to get them. And people like you in this audience will work 80 hours a week to just get one. You'll risk your marriages. I'm gonna work 80 hours a week to get more of these great products. And then because I'm true in what I'm trying to tell you, it's the greatest product ever. They make another trillion. And then guess what happened? People lie, cheat, steal, and risk their lives. And people in this room work 80 hours a week, risk their marriages to get more. That by definition is insatiable demand. That by definition tells you that's the greatest product that's ever been invented by mankind. It sells better than hotcakes. Okay. 1933, after the Depression. Did you know that your grandfather, my grandfather could have went to jail for having 5 gold coins in their pocket in America? This lasted for 40 years. To shore up the US dollar after the crash of 1929, FDR confiscated all the gold in the United States. No American could own gold bullion, gold coin, or they couldn't have a gold certificate. It was outlawed. You had to turn it into the Federal Reserve. Now, you could have a watch or a necklace, but you couldn't have gold bullion because it had to be put in Fort Knox to back up the US dollar to— as a patriotic thing to keep the country back, get the country back out of the Depression. Then 1944, the war was almost over. We knew we were gonna win. How do we know we're gonna win? Well, we're making like 1,850 airplanes a week, 96,000 airplanes a year. Our tanks, we're making 5 times the tanks that all our competitors are making. This is 1944. Mathematics told us we're going to win. They can't get to our supply lines. We have 2 oceans. We're gonna win. Bretton Woods, 1,000 people show up. From 44 countries to reset the world currency market, and they basically said, "Listen, French French franc is no longer going to be backed by gold. The French franc will be backed by the U.S. dollar. The U.S. dollar will be backed by gold." That's a difference. That's a difference there. Okay? That's what that's what changed. Oh, and by the way, it was kind of an unwritten rule. Listen, Bretton Woods. We you know you know all the navies the China's navy's gone. Japan's navy's gone. Russia's navy's gone. Italy's navy's gone. France's navy's gone. Everyone's navy's gone except the United States and some Britain. And the navy is a very, very, very expensive thing for a country to have. But if you're a small country or whatever country, you don't need a navy anymore. You don't. We'll be your navy. Just do one thing for us. Just buy and sell your oil in US dollars. It's it's a it's a simple trade-off. Just buy and sell it in US dollars. It's backed by gold. Just do it. So a little history. 1907, there was a huge crash. The Federal Reserve in 1914, '13, stock market crash '29. And then the SEC was created with the gold confiscation in 1933. Bretton Woods, 1944. And then 1971, August 15th, on a Sunday night, this is what happened. President Nixon came on TV on a Sunday night and said, Currency manipulators around the world are trying to hurt the US dollar. What happened was President de Gaulle of France, he was a general in World War II, sent 2 ships over to the United States because President de Gaulle was a smart dude. He realized we were printing way more paper dollars than we had gold. He was like, no, no, no, no, no. So he brought all his US dollars on 2 big ships to a port on the East Coast and said, President Nixon, here's all our US dollars. We want our gold back. And this is Sunday night. President Nixon says— he basically said, listen, world reserve currency markets are trying to manipulate our dollar. We're not going to let them do it. So temporarily, we're no longer going to back the dollar by gold anymore. And the next morning, the markets opened and everyone was okay with it. And this was— this is— you are currently in a temporary hold from 54 years of temporary hold that it's no longer backed by gold. Okay. He basically just changed the rules. He said, "We have some rules," and then we broke the rules. We printed a lot of money, and we're sorry, but we're just going to change the rules on a Sunday night, and no one cared. And so it kind of just kept going. All right, everyone say, "But John, you know, the the yuan's going to take over the world." Really? Really? Okay, listen. This is how the world reserve currencies are currently about 2025. U.S. dollar is 58%. Of all world reserve currencies are held in U.S. dollars. Look at the yuan down there, 2.7%. People tell me all the time, John, China's going to take it. No, they're not. You know why? Because they print way more money than— I don't know how they can do it, but they print way more money than we print. The euro is, uh, just, you know, in a low, low— it's like there's Usain Bolt crossing the finish line and there's all the other people in the back. It's so far ahead you can't believe it. This is the history. 1960 was 45%, 73%, and then now today it's 58%. I know it's going down. I got— I get it, it's going down. But it's still way, way, way. It's the euro dollar. It's crazy far ahead. How do you create a number one product? You have to have insatiable demand. You have to have insatiable demand. One way: require all crude oil transactions in U.S. dollar. So 1970, you're in Germany. You're a big company. You want to buy a tanker of oil from Saudi Arabia. You can't wire your Deutschmarks to Saudi Arabia and get oil. It doesn't work that way. You wire your Deutsche marks to New York Fed, Fed changes it to US dollar, US dollars go down to Saudi Arabia, Saudi Arabia sends you oil. That creates insatiable demand for your number one product. And there was 2 guys that we know of that traded, tried to trade a lot of oil not using US dollars. And I don't know how to say this politely, but just within a few years of them doing this, they both left the planet. How? I don't know how to say it, you know. I'm not saying we killed them. I'm just saying after they stopped doing US dollar transactions, we backed away from them and let people, other people. That's kind of what I'm saying. And then there was this guy after the war in Ukraine. You know what he said on TV? Russia will no longer accept US dollars for gas and oil transactions. We'll only accept gold and the ruble. And then, I don't know if you know this, but there's 2 pipelines that go from Russia through the Baltic Sea down to Germany, and it's natural gas. And someone a few months later with a deepwater submarine blew up those 2 pipelines. They didn't blow up in one place. They blew 'em up and went to the coast and blew 'em up again. Just a couple months after he said, no more US dollars. No one really knows who did it. I don't know. You don't know. I don't know who did it. Not really sure. In fact, I don't have a really good guess. I've got an okay guess. I don't have a really good guess. Okay. But John, what about the BRICS dollars? Brazil, Russia, India, China, and South Africa. I know they're coming along. They're saying, if I look, if I ran China and I ran Russia, I would hate the US dollar because I can't print my money and buy everything in the world. I have to print my money to buy dollars to buy. We have an advantage, right? We have the eurodollars all over the world. Right? I'd be mad too. But let me ask you this. They want to do some dollar backed by gold and wheat and commodities and gold, you know, stuff like that. But the problem is they've been trying to do it for 10 years. People tell me all the time, the BRICS dollar is going to take over the world. Okay, but let me ask you a question. What country do you trust to hold all the gold while they give you a paper dollar to back it up? China. You trust China? You trust Russia to hold that gold for you? Remember President Nixon? Yeah, they're going to hold it for 10, 15 years. You're going to come in and try to give your dollar back, and they're going to say, oh sorry, we changed the rules, not going to give you a dollar back. So this is the problem. They can't find someone to hold all the gold that they could actually produce. It's, it's a problem. Trust, okay, for this, because it's been precedent. Okay, so listen, don't get mad at me. I'm— I, I didn't make this. This could be the largest Ponzi scheme ever invented. Okay, it probably is. But guess what? Mathematically, there is no mathematical way of tapering a large Ponzi scheme. You cannot do it. It does not exist. I didn't create this. Don't be mad at me. I didn't create this. I was born into it. And therefore, if there's no way to mathematically taper a large Ponzi scheme, then Mr. Spock— if you know Mr. Spock, he would tell you if there's no then the only way to do it is to play it all the way out. You gotta keep going with it. So I'm pro-US dollar, 'cause if I don't push the US dollar, yes, guess what? If Bitcoin takes over the world tomorrow, guess what? My parents' retirement's gone. My kids are broke. They're living in my basement. I'm broke. I don't want that to happen. You should be pro-US dollar too. You should be pushing the US dollar all you can. No, I want Bitcoin. No, really? Really? Think about all your assets that are held right now in US dollars. If it's zero tomorrow, are you gonna be happy tomorrow afternoon? I don't think so. So it's a Ponzi scheme. We get it. Everyone knows. Stop telling— stop talking about it. It's a Ponzi scheme. We all know and we're in it and we are gonna run with it until it doesn't run anymore. We're gonna ride that pony until that pony is exhausted. Okay. President Biden, he went over to Saudi Arabia, man. He flew. Now, get this, they didn't fly to see him. He flew to see them because they were about to sell some oil to China in the yuan. And he's like, no, we can't have that. Flew over there, talked to them. Now, if you ever take a negotiation class, one of them— there's lots of different ways, but one of the negotiation classes is called How Can I Do That? You ask someone, how can I do that? But you have to— the person on the other side of the table, you have to get their— all their information. It comes over, you gurgitate it. And you go and you perfectly great question back, how can I do that? And this is— we don't know what he said, but he could have said something like this. Prince, Crown Prince, we love you. You love us. We're all great. But listen, if you start selling oil to China in the yuan, as US president, how can I convince Congress to keep paying for F-35s on your soil? and 5,000 troops on your soil and, you know, giving you US satellite information on, you know, and also keeping aircraft carriers and boats protecting your— how can I as US president convince Congress to keep paying for that? Crown Prince, how can I do that? And this is the key to the negotiation strategy of how can I do that? The key is you have to then shut Your mouth, and you sit there and you let your opponent uncomfortably try to answer your question. And you sit, and you sit, and you sit, and you let them just squiggle because you know at the end they're going to say, "Well, I can't, can I?" You can't. There's no way to do it. Therefore, I can't sell oil to China in the yuan. That's just a strategy. Taught my kids that years ago. But anyway. It's a strategy of how can I do those questions? And they work really good. They don't always work because you got to really be able to really give a great question back. Okay, so let's talk Venezuela. Is it oil? Yeah. Part— is it gold? Yeah, they got a lot of gold. They got a military. Is it our military? Is it the Bitcoin? Yeah, they have a lot of that stuff. They've got all that good stuff. But let me ask you this question here. Maybe I got this right slide. When I hear strange stories in the news, if I drop my US dollar is the greatest, you know, theory in the world, if I drop it into this news story, China brokered a peace deal between Iran and Saudi Arabia. What? That doesn't even make sense. They hate each other. But wait, if I drop my Theory into that scenario. Okay, China says to Iran, "Iran, who do you hate more, the United States or Saudi Arabia?" Oh, we we hate the United States way more than than you know Saudi Arabia. Well, do you realize that the United States' secret weapon is their dollar? And if you would stop attacking Saudi Arabia, one day in the future Saudi Arabia might start selling oil. In the yuan to China, and you know what that'll do? That's a domino effect. That's first domino that comes down, and that hurts United States' superpower. And over years, we'll topple them, and we'll have the BRICS dollar. And everyone's going, "I'm signing," right? So they sign, and you're like, "I'm look, I'm John Pennington. I don't know if my theory is correct, but it keeps working when I put it into stuff like this. I don't know if I'm right, but it see every time I put it in, it just kind of works. The U.S. dollar is the greatest product in the world." And then President Biden took $6 billion of his number one products and shipped them over to Iran and said, well, crap, we're losing the Middle East. We want to be your friends. We'll send $6 billion to you. He said, great. Over the last 8 or 7 years, 300 companies from Germany, Japan, and U.S. companies have left China. I don't know what happened really, but they didn't all just leave kind of as a coincidence, Foxconn, who makes iPhones for Apple, had 1.2 million employees in China. Now they have 600,000. 600,000 employees went to other countries. What countries they go to? They go to countries that buy and sell their oil in US dollars. Huh, interesting. So if you're going to be a country that's not going to buy and sell your oil in US dollars, You just keep running, keep going, keep going, but there's someone in Washington somewhere, some conference room, they've got a plan and they're going to put the hurt on you. If Iran had been buying and selling their oil in US dollars for the last 20 years, I don't think we ever would've bombed them. If Venezuela would've been buying and selling their oil for US dollars in the last 20 years, I don't think we would've taken Maduro. I could be wrong. Seems like the product, the real product. My product I thought was real estate was really funds. The US product you think is oil, you think it's gold, you think of that, you think it, think it's land. No, no, no, it's US dollar, the best product ever invented by mankind. So, oh yeah, I forgot to tell you, he probably also said, you know, after he said, how can I do that? And he gave him the whole thing. He probably also said, hey, did you hear about Nord Stream 1, Nord Stream 2? Crazy, right? Yeah. Oh man, crazy. I heard about that on the news. It's crazy. We live in such a crazy world. Oh man. Jeez. Bitcoin doesn't have a navy. They don't have F-35s. That's one of their weaknesses. The US dollar has a lot of weaknesses, but they have an aircraft carrier, a bunch of them. We have military. that can push things and force you to use our US dollar. It's called marketing. Okay, I love this. This is in my workout room at home. A man who views the world at the same at 50 as he did at 20 has wasted 30 years of his life. Muhammad Ali said that. That's almost a billion seconds. You don't wanna waste a billion seconds. Today, I think, I think, I don't sure, I think, I think you thought something about dollars, gold, and Bitcoin before I started speaking. And I think maybe I've changed you a little bit. And you are doing what Muhammad Ali is, you know, pushing. He's helping you. He's helping you change. I'm helping you change. People in this room help me change. Bridger's helping change. His team is helping you change. Why? Because you don't want to be old and poor at the same time. You just don't. It's not a good thing. That's my book. It's on Audible. If you like my voice, it's 6 hours of me. You could drive around town, listen to me for 6 hours. You know, it's on audible.com. I, I didn't do AI. It's actually my voice. Thanks for attending. Give it up for John, everybody.