Inside America's Debt Crisis: How Politicians Are Sacrificing Your Future Peter Schiff Pt. 2 -

I'm Tom Bilyeu and this is Impact Theory. Let's jump right back in to part two of my conversation with Peter Schiff. Yeah. The exact thing that I've been trying to get people to hear is that every country with the exception of Japan that has crossed 130% debt to GDP tears itself apart from the inside. You end up with civil war or revolution. People always think that I'm being hyperbolic or I'm just being paranoid. But the reality is when you start describing the mechanisms that would have to be in place for these kind of draw downs to happen is, I mean, you're you're not able to fund a bunch of programs, so you literally have to go into the government and say, well, these things just aren't going to get paid. Check start bouncing. You just run into the realities of what happens when you can't do funny money essentially. Yeah. And And that yeah. That that is gonna get bad and then you're gonna take the populism that we have now and you're gonna exacerbate it a thousand fold and that's when suddenly the left and the right go from hating each other to actually killing each other. Yeah. Right go from hating each other to actually killing each other. Yeah. And and, you know, this responsible thing is for the government to admit that it's broke and that it can't afford the promises, that it's made and to cut government spending, including, entitlements, to be honest with the voters and say, you know, we can't pay you the Social Security benefits that we promised, and, so we're not going to. We're going to either maybe we're gonna make the retirement age 85 instead of 65. Right? You gotta keep working. Unfortunately, you know, we told you you could retire at 65, but we don't have the money. You know? There's a lot of things that America should do, but we're not gonna do that. So instead, we're gonna create massive inflation so that the Social Security payments are worthless. So, you know, I mean, my my my solution is means testing it so that at least the poorest people who really need Social Security could get something. And wealthy people, like like like, I don't need any Social Security. You could simply say, Peter, you get nothing. I mean, I don't need the money. Right? And so the more people who you tell you get nothing, then the people that really need it will get something. But the way they're gonna do it, they're just gonna wipe out benefits so that my loss is the same as everybody else's loss because it's all gonna be inflation. And and and this is the worst way to deal with it, but, politically, that's what we're gonna do. We're gonna we're gonna destroy the value of Social Security, by destroying the value of the money. And so, yes, you're gonna get your Social Security check, but good …