Sid: My guest is Dr. Larry Bates; he’s an economist, publisher and editor of “Monetary and Economic Review”, he’s a former bank CEO, he’s a former member of Tennessee House of Representatives where chaired the Committee on Banking and Commerce, he’s an internationally recognized speaker on political systems. We have such a mess, he’s a strong Christian, and he has been given I believe wisdom from God what to do in these times. Now Larry the President of the United States, I haven’t heard this anywhere but you say the President doesn’t have much control over the economy. Why is that?
Larry: Absolutely, well you see that the chairman of the Federal Reserve…
Sid: Well, that’s the whole deal that the Republicans and Democrats are running over, they are going to fix the economy.
Larry: Well, that a really red herring because the only thing that the President could do to help the economy is lower the taxes and reduce the size and scope of government. For an example you know the President other than being a cheerleader to kind a cheer you on and say “You know folks things are not really as bad as you think they are and we’re going to get through this thing and let’s all put our shoulder to the plow and let’s go to work.” That’s great, that’s a cheerleader. But other than that what can he do to help the economy? You see a lot of people say “Well, government will fix it.” Well you have two schools of thoughts here. Some politicians say “Well I’m going to create jobs.” Government doesn’t create any jobs what so ever only private business creates jobs. The only thing the President can really do to help the economy is lower your tax. Now who really controls the economy? Well, it’s the Federal Reserve, which by the way is neither Federal and has doubtful reserves; it’s a private bank owned by a number of banks. And we gave them a monopoly on the creation of paper money back in 1913. And ever since that time Sid, the peaks and valleys, the booms and busts in the economy are not a phenomenon of nature, but they are the result of deliberate policy action by the Federal Reserve. So the chairman of the Federal Reserve is more powerful than any President because he determines what the average person’s car payments going to be, what their house payment’s going to be and whether you even have a job or not. So when people say “Well the President is going to do this or that to the economy, the only thing that government can do is throw money at a problem. It’s kind of like an economic equivalent of crack cocaine it will give you a little high for a while but in the end you’re going to have a hangover from that government action.
Sid: But what higher taxes on businesses and then pass the savings on to the average citizen?
Larry: Well, first of all corporations and businesses don’t pay tax, why because simply taxes, tax increase is passed on to the public in the form of higher prices, it’s a cost of doing business. So it’s kind of like a politician saying, “Hey Sid, you know I’m not going to take from your side of the bucket of water I’m just going to take from this other guy’s bucket of water.” You see what I’m seeing? You know it still coming out of the same bucket but we’re just not taking from your side, you see how much sense it makes?
Sid: I understand, you say that the 2008 elections are the most important the United States has ever faced. You actually say we’re at a tipping point explain.
Larry: We really are, we have two clear choices between these two presidents those issues that God really cares about like abortion, like homosexual rights, and then you get into the area of the economy. God really cares about that too. When you get at the issues the economy and government involvement the positions of the candidates are somewhat fuzzy, particularly by Senator Obama. In many cases all politicians they try to hide their true views from public view, and you see these issues you have to look at not only from an economic standpoint because you can drop me in a parachute into any country in the world blindfolded. Leave me on the ground for a week Sid and I’ll tell you by the end of the week the health of that economy. How will I know that? It is directly portional to the size and scope of government, big government, weak economy, small government more individual responsibility strong economy. So when some politicians say the government is going to do something for you, then he really either doesn’t know he’s talking about or he’s lying to you. And so this is the tipping point, because all of these issues will deeply impact not only your personnel freedoms and the qualities of your lives, but the direction that we take as a nation. Whether we continue in the personnel liberties and freedoms that we have or deeper into the shackles of servitude to the state, that’s the key issue on the economic side.
Sid: What about the oil crisis, or what’s your spin on that?
Larry: Well, the oil crisis when we go back to 1950 and take the value of the U.S. currency and the U.S. dollar in 1950 and also look at the price of the gallon of gas in 1950 and from 30–35 cents a gallon back then and then bring it forward today the fair market price of a gallon of gas is around $3.50 a gallon. And why do we have high gas prices? Because we have printed up too much money; see inflation is not rising prices, inflation is printing up too much currency that results in higher prices. See the definition in Webster’s dictionary of inflation is “an increase in the amount of money in circulation resulting in the fall of monies value and a rise in prices.” Kind of like if you have a black cup of coffee and I start pouring clear hot water in your coffee and you’re after the caffeine in the coffee then you’re going to have to drink a whole lot more of that coffee Sid to have the same amount of caffeine. So the same thing with your money, you start printing up too much money this is why your money doesn’t buy as much as it use to because we have diluted the purchasing power of the currency.
Sid: You’re saying that there’s clear choice in any election based on one philosophy of government, what do you mean by that?
Larry: Well, for example do you believe that we ought to have a nanny state. Do we need a national nanny? I can tell you my own personnel philosophy is this, I neither want nor need a nanny. I believe God said in His word, He said “If you don’t work, you don’t eat.” Now I do not believe that government should be the people taking care of the sick, I think that the church is going to have to get into the health care business. What I mean by that, you know the Bible is very clear, it says “Let the sick among you come to the elders of the church and they shall lay hands on the sick and they shall recover.” Mark chapter 16 is very clear as a commission to the church, you know we see a lot of miracles, I’ve seen blind eyes open, but it was in Indonesia. People say, “Why don’t we see those kind of miracles in the United States. Well, it’s kind of simple, we have too much Blue Cross and Blue Shield. So as a result we don’t we don’t see the miracles, because we don’t have the faith. And so I say, let faith arise and let God’s enemies be scattered.
Sid: What do you cover in you DVD?
Larry: Well, we cover the areas of economics, politics and religion. You see we read in Revelation about mystery Babylon which I believe is nothing but that demonic blend of the world system of economics, politics and religion. And our marching orders are very clear in Revelation 18:4, it says, “Come out of her mystery Babylon, my people less you participate in her sins and receive of her plagues.” I don’t know about you Sid, but I sure want to avoid those plagues. So what we do is we show the areas of economics, politics and religion, the world system that is culminating in this present day crisis and we simply show you an easy to understand language strategies for weathering any crisis while keeping your finances and your political freedoms intact…you pray 1 Corinthians chapter 2 that the Spirit of the Living God will give you discernment as you watch these and give you the understanding like the men of Issachar who understood the times, because we are entering uncharted waters Sid. Waters that we have never seen in your and mine life time, never experienced as a nation, but it’s going to be exciting times, but were going to have to be more dependent upon the Holy Spirit then we are our own personal resources.
Sid: Now you cover some amazing areas here, you actually cover one of the subjects here is the truth about Islam, another is the new currency for North America, another is why a major economic downturn, or collapse, must occur, another is terrorism will affect markets and your assets, how to storm proof your assets; the mortgage crisis, what to do about your real estate. You know on tomorrow’s broadcast I would like to find out what you’re advising people to invest in. We know a lot of things not to invest in, I want to find out what your telling people to invest in. There has not been feedback on these 3 DVD’s because it’s brand new but you had a live studio audience. What did some of those people say to you that attended?
Larry: Well, “My eyes were opened” or “Something I never understood this before, I now understand it.” I was raised on a farm in middle Tennessee Sid, and my Dad always said “Son, get the hay down where the cows can eat it.” On tomorrow’s broadcast Sid I will tell your audience one key thing why I think God is training up a generations of Josephs to receive the end time transfer of wealth and this generation of Joseph’s is going to be powerful.