BTC Sessions - Dave Collum: Market 200% Overvalued, Epstein Lies, Satanic Cannibals, Mk Ultra

Episode Date: February 17, 2026

Mentor Sessions Ep. 053: Dave Collum on Post-Truth Era, Epstein Files Distraction, Satanic Cannibals in Power, MK Ultra, Market 200% Overvalued, and Bitcoin's Liquidity Test.What if the Epstein fi...les are a deliberate distraction from deeper conspiracies like satanic cults infiltrating government, MK Ultra mind control shaping public figures, and a post-truth era fueled by media manipulation and AI deception? Cornell Professor Dave Collum, renowned for his bold economic predictions and unfiltered takes on societal issues, power dynamics, and truth-seeking, exposes how elite corruption ties into child sacrifice rituals, adrenochrome horrors, Hollywood's CIA symbolism, and geopolitical tensions like Israel's influence and U.S.-Russia relations. In this Bitcoin-focused deep dive, Dave warns of an everything bubble with markets 200% overvalued, predicting a 70% correction amid financial systems' flaws, market volatility, and unsustainable economic trends. He unpacks conspiracy theories on trafficking, psychology of mind control, public perception manipulation, and how Bitcoin's enemies—a satanic death cult controlling power—view cryptocurrency as a threat to their fiat empire.Dave reveals the dark roots of adrenochrome, satanic cults' sustainability in modern elites, and Hollywood's role in fictionalizing reality to obscure corruption. He critiques AI's impact on truth, Israel's strategic plays, and why Bitcoin's resilience against attacks (from quantum FUD to spam wars) could redefine money amid economic upheaval. For Bitcoiners stacking sats amid volatility, Dave's insights on gold vs. Bitcoin divergence, Roth IRA illusions, and navigating post-truth chaos offer a roadmap to sovereignty. If you're orange-pilled on decentralization but questioning elite power, media lies, and financial predictions, this episode is your wake-up call.About Dave CollumX: https://x.com/DavidBCollumChapters:00:00:00 Intro & Post-Truth Era00:02:37 Epstein Files as Distraction00:04:37 MK Ultra Shooters & Mass Shootings00:07:53 Satanism and Power Dynamics00:10:22 Zionist Strategies & Israel-Palestine Conflict00:25:00 U.S.-Russia Relations & Cold War Echoes00:32:06 Media Manipulation & Disinformation00:37:59 Education's Impact on Youth & Woke Culture00:43:40 Market Valuations & Asset Bubbles00:50:49 Federal Reserve's Questionable Influence00:57:59 Economic Trends & Market Predictions01:04:42 Competition, Authenticity & Human Connection01:10:25 Search for Truth in Fabricated Reality01:15:58 Hollywood, CIA & Symbolism01:22:58 Fiction-Reality Intersection01:28:51 Enigma of Ex-CIA Operatives01:36:03 Dark Forces in Geopolitics01:42:42 Illusion of Control & Common Knowledge01:49:41 Roth IRA Financial Illusions01:56:58 Currency Upheaval's Impact02:02:09 Bitcoin vs. Gold: Diverging Paths02:08:38 Market Volatility & Historical Patterns02:14:23 Adrenochrome, Child Sacrifice & Satanic Cults02:20:21 MK Ultra Survivors & Trauma Effects02:26:39 Trafficking, Mind Control & Public Figures02:32:27 Sustainability & Public Perception02:38:15 Financial Systems, Bitcoin Resilience & Wrap-Up⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB🔒 Lockdown your Bitcoin with the BEST gear on the market from Coinkite. Get the 5% Off the COLDCARD visit: https://qrco.de/bfiDBV💡BOOK Private Sessions with Nathan, Gary, or Ben at Bitcoin Mentor: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io Previous Episodes on Scaling and Bitcoin Privacy with Tom Luongo: https://youtu.be/KaBdXYzEAkwFollow Us on X:• BTC Sessions: @BTCsessions• Nathan: @theBTCmentor• Gary: @GaryLeeNYC#Bitcoin #DaveCollum #DavidCollum #EpsteinFiles #ConspiracyTheories #Israel #EconomicPredictions #Adrenochrome #SatanicCults #MKUltra #Trafficking #AI #Corruption #MindControl #FinancialSystems #MarketVolatility #BTCSessions #BTC #bitcoinpodcast

Transcript
Discussion (0)
Starting point is 00:00:00 The Satanism story is real. The depth and breadth of it is unclear. They don't corrupt powerful people. They corrupt people and then give them power. The Epstein story is just so mind-bogglingly large, and it's different than we thought, right? If I were to list of series of possibilities, one is it their MK Ultra products. I have the markets at 200% over historical average valuation. These markets are broken.
Starting point is 00:00:23 The markets are acting like a teenager driving on black ice. I am one of the most hodler-friendly non-no-coiners. Totally sympathetic to everything you guys stand for. In no way does this year being a bad year mean you're in any way wrong. Meet Dave Cullum. Cornell chemistry professor turned financial firebrand infamous for his unfiltered takes on market mechanics and elite conspiracies. Now, fair warning, we go diving down the deepest, darkest rabbit holes. In this episode, Dave warns of a looming financial catastrophe.
Starting point is 00:00:51 We're talking 70% correction. He exposes that Epstein was not a blackmailer, but a twisted power broker. Epstein was more about providing social lubricant, a truly legendary networker. And Dave reveals the most extreme corruption and evil at the highest levels. Is it, unless you're a satanic cannibal, you will not get to a position of power? Nothing was off limits. We also talked to Bitcoin, Israel, and MK. Ultra. Kamala Harris has all the traits. I think Erica Kirk easily. All right, good afternoon, Dr. Colm. Thank you so much for joining me today. I have a ton of things that I want to jump into.
Starting point is 00:01:29 but the first thing that's kind of top of mind that I wanted to get kind of your sense or your read on the situation is that we're kind of seemingly living in a bit of a trost, a post-truth era. So what struck me is like just in Canada, we just had the worst school shooting since the 1989 polytechnic events. Another cranny, right? Another cranny. And it was. That's exactly my problem because the first thing that jumped out to me was how everybody was dancing around that issue, the media and the police. The police referred to them as a female in a brown dress. When a journalist used the pronoun he, they corrected them. And they even went so far. as to say gun person instead of gun men, because heaven forbid we actually, you know, offend this monster who's not deceased. The thing that jumped out at me was like, you combine that with what we're seeing in AI in terms of content generation. Now, it still kind of hits like the uncanny valley sometimes, but it's getting harder and harder to discern. And so what I'm having a hard time not wondering is basically how does society not like completely fall apart when not only is truth harder and harder to like, it's more elusive, it's harder to actually find, as well as most people don't actually care about getting to the truth.
Starting point is 00:02:30 I'm reminded of like the Vegas shooting, COVID, everyone just seems more concerned with, you know, social approval or just apathy. I think the apathy, I think that's part of the plan. The Epstein files, by the way, are, you know, why are they all of releasing all this information,
Starting point is 00:02:48 which is all fragmentary? It's got sort of 80% wow, 20%, what does that really mean, sort of, every one of them. You can't point to any one email that has the entire smoking gun in the image. You can see statements about how, you know, thanks for the nine-year-old girl, but then the person who sent the thank-you note is redacted, you know? And I go, we want to know that guy's name, right?
Starting point is 00:03:18 And you get this feeling that they just, someone they decided to just release three million piles of goo such that we would be overwhelmed by us. So they flooded the zone with information. And, you know, Thomas Massey and his buddies briefly went in for a couple hours and looked supposedly at the unredacted ones. And they came out with nothing, in my opinion. They came out with six names. So what? We had a hundred names. We had hundreds of names, hundreds of names. And they were not attached to an email of any consequence, right? And so I don't trust Thomas Massey's motives. I like Thomas Massey, but I'm not convinced he's really trying to get the information out because, you know, for example, I'd search the nine-year-old and unredacted that one,
Starting point is 00:04:07 right? And that's the guy I'd do. And there was four of them in there for a couple hours. They could have taken some of the juiciest emails and really laid some people out. I think all the shootings, you mentioned the shootings, I think all the shootings, you know, plus or minus, maybe a couple, they're all way darker than just crazy drug-addled males. So they are, if I had a list of series of possibilities, one is that they're, one is that their MK Ultra products. And if they are basically trained assassins through, you know, torturous methods when they were children, that sort of thing.
Starting point is 00:04:52 And that's the most logical. At one point when I wrote about the, I think I was writing, it's either Yuvaldi or was Las Vegas, someone's hard drive was missing. And CBS News wrote an article and said, well, you know, his hard drive was missing, which and what I said was, don't you hate it when you lose your hard drive, right? Yeah. And then, but then what happens is they said, but they listened about five other shooters. They said their hard drives were missing too, so it's not that big a deal.
Starting point is 00:05:23 And I'm going, no. Oh, oh, yeah, you got that one backwards, right? And so, you know, so you Bali and Vegas and Florida nightclub. And, you know, you see crisis actors, which I think are real and stuff like that. What's clear is, is that none of us were folk, we're dedicated enough as conspiracy. theory theorists. Alex Jones. We'll give Alex Jones the dedication award. But the Epstein story is just so mind-bogglingly large, and it's different than we thought,
Starting point is 00:06:01 right? You're not seeing evidence that Epstein was blackmailing people. What you're seeing is that he was doing huge negotiations with hugely important people. So I think Mike Ben's had it right. About six months ago, he said Epstein was more about providing social lubricant, these young damsels, you find out what the guy likes. And you say, okay, come to my island. We'll talk, we'll talk Turkey about, you know, you sending arms to whatever small country you want to send them to. And meanwhile, you'll get the bang nine-year-olds, you know. I mean, I think it's
Starting point is 00:06:36 something a little closer to that. Benz recently, was it Benz? Someone recently said, look, you know, if you start blackmailing people, they're not going to like you. Right. And the other people who are potentially willing to be with you, you are going to say, no, no, no, he's blackmailing people. This is not what I want to be involved in, right? So I think it would ruin his stick. Yeah, I think it would ruin his game. So I think he was a truly legendary networker.
Starting point is 00:07:07 So for the state of- anything, there's two things I want to kind of pull apart there. One, I kind of agree with you, one of my first instincts regarding the Epstein files was it felt like a demoralization campaign. Like, it was so much. information to just waste your time on and nothing there that would actually probably get a conviction or make any sort of real difference. It felt like a distraction, kind of like bread and circuses. Go and play with this. You'll feel a little bit better. You'll feel like you were right, but you'll have nothing actionable to do with it. And I'm curious if there is- They gave us laser pointers. That's exactly right. And so was there because I know that you've done, you've gone deep down kind of like the missing children dark rabbit hole a few times before in the past. And I think you were already well aware of this sort of stuff. Was there anything that came out from these documents so far that was a bit of a revelation for you or any. sort of new information beyond that it looks like he was really just a negotiator, almost like a
Starting point is 00:07:52 power broker? Well, there's new details, but nothing. So it's a little shocking to listen to Marjorie Taylor Green, who's a congresswoman still, talking about the fact that it appears as though satanic cannibals are real. And I go, if you had told me 10 years ago, there are satanic cannibals in the government. I would have said, you really need a therapist quickly. you know, even I would have it. I entertain ideas that are way outside the box,
Starting point is 00:08:24 as long as they don't defy the laws of physics. And I'm beginning to wonder about those. And so appears that the Satanism story is real. The depth and breadth of it is unclear still. So is it, you know, 200, 300 people? Is it 100,000? Is it unless you're a satanic can't, you will not get to a position of power.
Starting point is 00:08:51 I do believe that they don't corrupt powerful people. They corrupt people and then give them power. I think that's the sequence of events. For three years, I've been studying it intensely, and for three years I've been promising to write about it. For three years, I have failed to finish the task. And part of it is that it just, it's getting more dangerous. And you say, well, okay, so Liz Cross.
Starting point is 00:09:18 Mockin is out there screaming at the top of her lungs and Mike Smith and a woman named Emma interviewing victims and things like that. And so why are you nervous? One of the things that makes me a little nervous is, again, nothing against them, but I might be reading the room wrong. So it might be like these things, wait a minute, no, no, Liz can scream about it, but we can't have this guy at Cornell screaming about it. Yeah, it's the proof of authority, right?
Starting point is 00:09:46 If they can be dismissed easily, then they probably are, okay. with it almost almost undermines the story. Right. And so, yeah, so it's desensitizing is what it is. But they don't need a fresh face coming in. They say, no, no, we got to deal with this guy. And they don't need to deal with you. Did you see that Harrison montage?
Starting point is 00:10:08 I don't know why I keep going here because it's very risky, but this Harrison montage, which he showed probably 10 minutes of sort of fairly rabid Zionists talking about what they should be doing. Did you happen to catch that on Twitter? No, I didn't see that one. Can you tell me a little bit about it? Well, his name is Harrison, and he put together as time in a montage, and it's very prominent Jewish leaders who are saying things like, we have to round up people who don't support Israel and throw them in jail and things like that. There's really truly extraordinary things. And I'd seen a bunch of them, because like one of them was the guy,
Starting point is 00:10:47 headed the JDL said that we've got 50,000 lawyers sort of in the queue waiting to sue people for libel. And I'm going, so they don't need to shoot me. They don't need to do a Charlie Kirk on me. They just need to send a lawyer. And you're now in the situation where they're trying to say, look, to oppose Israel is hate speech and it should be dealt with.
Starting point is 00:11:13 and no, no, you're wrong. And the question is, I think they're, I think they're playing a strategy, this kind of big win or lose strategy. And I don't know if they're, I don't know if it's going to work or not, but the strategy I believe, and I believe it started October 7th.
Starting point is 00:11:36 I think that was the kickoff right there. That was the Super Bowl kickoff. Do you have a suspicion about that, by the way? Have I? What? Do you have suspicions about that, how the response is quite slow? They held the door open. There's no way Hamas went in there.
Starting point is 00:11:51 First of all, they wouldn't have gotten in. Second of all, I can document using Israeli sources exclusively that they knew months in advance it was coming. Israeli sources tell us, the Egyptian intelligence said, hey, guys, get ready. These guys are coming. You know, Effigson, the woman who manned the wall for 20 years. So there's no chance that Israel didn't know it was coming. She said, she said, eyes and ears in the gods of the strip are absolutely unimaginable.
Starting point is 00:12:22 And so it's pretty clear that they knew they were coming. And they said, okay, so we're going to use this. And so the second thing is, if I had asked you, you know, five years ago, so Hamas drops 800 guys into Israel, how long would it take Israel to clean up that mask? And I would have said five minutes. I would have, the guys coming on a paragliders, I would have said most of them would not make it to the ground alive. The one thing I have great respect for is Israel's ability to protect itself. And there's all sorts of articles saying how they boned it. And I go, no, they didn't bone it. They don't bone this. They don't blow stuff like this. They wouldn't be alive
Starting point is 00:13:02 if they blew stuff like this. And the guy who moved the concert near the border is the same guy who moved the military away from the border. You know, I mean, and people were screaming at them, saying, what are you doing, right? But these were people who didn't, weren't on the inside of the story. And so using exclusively Israeli sources, you can show that it was, and you couldn't rampage for eight hours.
Starting point is 00:13:28 The grandmothers would take them out, right? One time I read, you don't build a wall to keep people out. You build a wall to keep them in. Because once they get in and they got to get back out, it's like, no, you're not getting out of here. Not in one piece. You're going out in a box, right? It's like locking the jewelry store when someone tries to rob it. That's right.
Starting point is 00:13:47 That's exactly right. Have all the diamonds you're up, but you're not going out the door. And so what appears to me is that they completely change their strategy with October 7th as the kickoff of the, this big Super Bowl moment. And the strategy is to leave no room for criticism of Israel. Not a breath of light, not a hint of light getting through that scene. And they want statements that are in opposition to Israel and Jews, if you want, but it's not about Jews. I mean, the Jews I know hate what they're seeing.
Starting point is 00:14:28 They want it to be like the N-word, you know, they want it to be such that you don't dare ever say anything negative. And it's kind of a winner-take-all strategy. So they're either going to succeed or they're going to really bomb because I think they're generating anti-Semitism in a vast, vast way. I don't think there's anyone who likes what they're seeing. I agree. I think it's backfiring quite strong.
Starting point is 00:15:02 At least that's my sense on social media and from people that I talk to. Right. And the other thing you can't find, for example, is you can find prominent leaders making your skin crawl based on things they're saying. What you can't find is any, any, any sort of populist support. Yeah. They don't have the people with them at all. You won't see people out there, you know, protests the anthems. anti-Semitism, except maybe some guys on payroll, you keep seeing synagogues get bombed,
Starting point is 00:15:33 and I don't trust the origin of those. You know, I just, I think, yeah, bomb a synagogue and then blame anti-Semitism, right? That's totally right. That's like, that's like Statecraft 101, right? That isn't even a, that is even a creative. No, it's false flag. It's very easy. a trivial false flag, right, right.
Starting point is 00:15:57 So I'm curious then. So that was a super old in the kick of it. I'm actually tying it back to the Epstein files there as well, too, because I think mentioned in it, we had Ehud Barak as well as Robert Maxwell, but they've all been in there for so many years. Those are not news. I don't understand for decades.
Starting point is 00:16:14 With the revelations that he was maybe more of a networker, do you think he was doing it at the behest of Israel or was kind of independently but choosing to work with them? I think it gets so blurry. because the different intelligence agencies working with each other. Are you Mossad, if you're a freelance contractor? Who's Eric Prins, right? Let's say Eric Prins, unrelated to Israel.
Starting point is 00:16:38 Maybe, maybe not. But, you know, so was it Blackwater? Is he U.S. intelligence, U.S. military? What is he? Well, he's a contractor. And so I'm not sure the distinction matters. Okay. He certainly knows Mossad, right?
Starting point is 00:17:00 I mean, he was banging one of them. And they're still talking about giving her a pardon. This is a twisted bitch, right? This is a woman who really should be, you know, putting the Tower of London put away forever and ever. And yet somehow Trump talked about pardoning her. And I go, so as a Trump adjacent, that's what I call myself, Trump adjacent, you vote for Trump because you say the others all suck. You can be enthusiastic about Trump if you want.
Starting point is 00:17:38 It was a couple of months there where I was pretty euphoric over what I thought I was seeing in the first few months of his new presidency. He has managed to disappoint me pretty badly. But I'm not convinced that I'm not just getting sucked in by press. I'm not convinced that the propaganda against Trump isn't sucking me in. But, you know, what were the disappointments? Well, first of all, he said there's nothing in the Epstein files, right? Yeah.
Starting point is 00:18:08 You know, you want to pardon Galeim Maxwell. So he's supporting satanic pedophiles, right? Let's start with that. He, Doge went nowhere. Best I can tell, maybe it did. He did shut down the wall, right? I mean, he did shut down the immigration, but that was trivial. I mean, it was a goddamn whore.
Starting point is 00:18:35 All he had to do is put out the word and say, no, it's not going to happen. I think the way ICE is getting rid of people is all wrong. You can't use 10 cops, 10 agents. to get rid of one guy at a time. Right? I mean, that's like trying to empty the Atlantic Ocean
Starting point is 00:18:51 with a teaspoon. It just, you're never going to get to 20 million. Let's start with that. It feels very performative. It feels very performative to me, almost purposely to invoke division. So if I wanted to get rid of them in earnest,
Starting point is 00:19:04 what you do is you go higher up and you say to an employer, you know, if you're hiring these guys, we're going to destroy you, right? I'm okay with that. I'm okay.
Starting point is 00:19:15 Now, I'm totally okay with Mexicans coming across the border and working. I don't have any problem with that at all. They say, well, they do jobs other people won't do. And I go, well, if you didn't pay them to be unemployed for three generations, maybe that wouldn't be the case. But we're stuck with that now. But Mexicans, I think they worked hard.
Starting point is 00:19:37 They were just sending money back to their families. It was just kind of this underground economy that was in relative balance. But when you start shipping people using NGOs from all over the world to come into this country, now I put that in the treasonous category. So I would round up the guys who made that decision and throw them in prison. I'd convict him by the highest standards of our legal system. I'm reading Jonathan Turley's latest book, something about rage in society. I just started it.
Starting point is 00:20:13 I'll read anything, Jonathan Turley writes. And it's a rage in the republic. And he's talking about, I think the theme is going to be that the democracy leads to autocracy leads to authoritarianism. I think he's going to say that the founding fathers knew that you couldn't just let everybody vote, that the tyranny of the majority would take over. And we would vote ourselves into an awful situation. That's what Turley's going to do.
Starting point is 00:20:43 I'd put him on the Supreme Court if I had the Bob's king of the world. No, I largely agree. It almost feels like we're approaching that point right now. Like, it feels like we're in authoritarian situation, at least a soft authoritarian kind of situation. Even going back to the original question, it's like... Not sure it's that soft. Yeah, no, fair enough.
Starting point is 00:20:59 Even going back to the idea of like the post-truth and people battling things out, it's like when the power of the state is growing more and more and more and more and more and it has the ability to then enforce your will on the other half of the country, well, then of course, you're going to like basically become completely tribal and fight tooth and nail to get a hold of it. And the polls show that both parties think the other parties are a threat to democracy. Yeah, and they're all pedophile vampires, so whatever.
Starting point is 00:21:22 That's right. And so they have got us, they, whoever they are. I was in a Zoom group that had everyone you can imagine. I mentioned it a lot, but one of the first Zoom calls, you know, that usually we have a guest speaker, and sometimes they're brought from within the group and sometimes they're external. But we've got guys like Jerome Corse.
Starting point is 00:21:47 He speaks several times, and he's really an interesting guy. But my first Zoom, I think one of the first ones with Bobby Kennedy and all the anti-vaxxers and stuff. But we had Tony Schaffer, who's an Army intelligence officer and guys like that. It's giving us kind of a bird's eye view of what's under the hood.
Starting point is 00:22:07 Some of these guys are, Scott Atlas talked about sitting there with Fauci for six months in the Oval Office as Fauci completely looked like an ignorant asshole. And Burks looked like she had an IQ about 80. She just complete incompetent, complete incompetent, according to Alice. And so COVID, COVID's yet another story. Did they, did they blow it if their goal was to pull off the pandemic, which I don't believe was really serious?
Starting point is 00:22:40 I think it was a serious flu. I'll give it that much. Sure. And make us actually believe that everything went best it could, they blew it because we think they're pathological liars at this point. Or was there gold to demoralize the shit out of us and say we're like that my favorite analogy is Larry Byrd saying to his opponent, I'm going to break to the right. I'm going to do a pull up jump shot. You can't stop me and then do it and sink the basket. Then you have a broken defender.
Starting point is 00:23:12 Then the guy says, I don't know how to stop this guy. And so, so did they overplay their hand in COVID? Or did they play the hand the way they wanted to play it? Is that what Israel's doing? Is that what the Epstein files are? I just don't know. What's your instincts kind of one way or the other? And even on the Israel influence on the US as well, too, I can't tell necessarily, like,
Starting point is 00:23:33 if Israel is necessarily calling the shots or they're just very good at basically lobbying and getting a lot of money and influence. Well, so when Israel has, one of the reasons, Mossad is so good at what they do, besides the fact that they have, they do face existential risk, right? I mean, there's no question about that. I read a couple of books. I stayed out of it for years. I said, look, I'm not going near that. These are tribal wars that I, I tried to understand the Middle East by reading a bunch of books after 9-11, and I concluded no one understands the Middle East.
Starting point is 00:24:08 No one will. It's just a mess. But what makes the Mossad so effective is not only are they tough as nails and fighting potentially an existential battle, but they also have the slice across the world of the Jewish connection so that if you're Jewish and some guy comes up to you and says, we need your help for Israel. There's a decent chance you're going to give it. And so they've got this. network that's that that's unlike any other country's network and as someone said to me i shouldn't name them but it's not a horrible thing but he said yeah their level of commitment's not imaginable it's unimaginable their level of commitment and so um so that's that's why they're so um
Starting point is 00:24:59 ruthless yeah and the ruthlessness bothers me i got into it with mark lebin and ted cruise and and Victor Davis Hanson, and they pissed me off. I wouldn't be so negative if they hadn't shown their color. And it's a little just quieting to watch Ted Cruz stand up on stage and rip you off for supporting Hiller. It definitely probably makes you sit back a little bit and go, how did I get here? Well, Levin is a piece of shit.
Starting point is 00:25:32 Oh, yeah. Laura Lumer went at me. And I called her the master of, click baiting and then I shortened it to master baiter. Nice. And then pointed out that she gets paid $7,000 for every happy ending. And, you know, I said she was worthless. Cindy McCain went at me.
Starting point is 00:25:53 Cindy fucking McCain. Not Cindy McCain, Megan McCain. Megan McCain, his daughter. Yeah, the webtoed inbreds of the McCain family. It was a little disquieting. And it caused me to ask. question, do I want to play in the big leagues? Do I don't want to step it up and, you know, sort of lock arms with Dave Smith and Tucker and these guys? Or do I want to drop below the
Starting point is 00:26:19 radar and stay out of this? You can tell them a little ambivalent because I'm saying shit to you that I shouldn't say potentially, but I'm just still pissed off. If you're listening to me, you're Jewish, you're a Zionist. I'm saying, read my lips. You're fucking up. You had me. Like the first day of class after October 7th, I walked into class. I said, here's what some of you know. The world just changed yesterday. Yeah. And I said, what I'm pretty sure is true is that there's going to be people in this classroom who are on both sides of this issue.
Starting point is 00:26:55 And then I said, be careful to be kind to each other. And that hasn't worked particularly well. But that was kind of my stance on it. But, you know, if the Zionists want to throw shitballs at me, then, okay, I'll go on podcasts and I don't know how many people listen, but I'll spew out venomous hatred of the rabid, you know, honey badger Zionist. I just, I have no, I'm forget it. You guys fucked out. You lost me. Yeah.
Starting point is 00:27:32 I'm not sympathetic anymore. I'm sympathetic. But I think most of Israel hates Net and Yahoo, for example. So I'm sympathetic to that. They've got a shitty leader. Get a moderate leader, right? I have Jewish friends, and I talk to him about this shit. And he says, well, you know, one of them says, well, we're in this real brawl.
Starting point is 00:27:50 And I said, and then, yeah, he was making it a bigger brawl. Yep. He could get you into World War III and get us into World War III. And that's what pisses me off, actually. So I watch a lot of John Mearsheimer and Colonel McGregor and, you know, judge depolit. Tonno and Tucker Carlson, Dave Smith, you know, Anna Kasparian, Chank Yuggier. These are new feeds into my brain at this point. And, you know, fuck them.
Starting point is 00:28:24 I don't know, fuck them. Well, at some point, if they're going after, you kind of have that instinct either, like, you're either going to cower down or kind of get the, you want to swing back a little bit. So definitely, I can see how they lost you. I'm on the fence on that is the problem. I'm on the fence. I'm obviously throwing shitballs back at them, but.
Starting point is 00:28:38 But I do not. My brother went, said to me, said, would you trade positions with Nick Fuentes? I said, no, not a millionaire. He said, then be careful. Be careful. So. It's such a hard issue to skirt, too. Like, even from just my perspective, I can hate all states.
Starting point is 00:28:53 I have been an anarchist for quite a long time, and I can find a reason to basically hate every government that exists in this world. I have no issues doing with the people. They all lie. They all murder. They all deceive. They're all stealing, right? I can be angry at the Russian government and still feel sympathy. for the Russian people. I can be angry at the Ukraine government. It feels sympathy for the
Starting point is 00:29:10 Ukraine people. I can be angry at the Israeli government. It feels sympathy for the Israeli and the Jewish people. I'm actually ironically not angry at the Russian government. I want to know why. Well, I dug into it. And I think Putin tried to tell us for a dozen years that we're fucking out. Net means yet. Yeah. Yeah. And yet means yet. It was an existential risk. So I'm actually kind of a Putin fan recognizing that I'm supporting a brutal guy. Yep. But I think he's a very grounded leader. He's very popular in Russia is my understanding. And he doesn't bluff. So when he says, look, here's the deal. You can't have this. You want it. I get it, but you can't have it. And, you know, the trade analogy is, you know, if Russia had tried to drop troops along the Mexican border, we would turn that country
Starting point is 00:29:54 into a sheet of glass real fast. And so I concluded that Putin is not the problem. I don't think he's an expansionist at all. I think all his moves at some level are defensively tactical. And people can point to things, say, well, why did he do this? And I go, well, if you dig into it, you'll find out why. But he couldn't let NATO get a hold of Ukraine. He flat out couldn't afford it. That would be like missiles in Cuba. Yeah. And so I just, I've never, I've not seen Putin do anything. I mean, I know he waxed people and stuff. I don't doubt that, but I've not seen him do anything that that really troubles me.
Starting point is 00:30:38 Nothing that any other government would do. And it's funny, I'd be curious to get your take kind of on this, because I agree. I think it's largely defensive, and I think NATO was constantly encroaching on Russia, and it'd be the same thing if missiles in Cuba or in Mexico there. But the one thing that kind of stands out to me, we kind of also touched on earlier talking about,
Starting point is 00:30:53 like, the people that are really going hard on Zionism promoting Israel, is the issue that I see there is, If I compare, even just say Jewish faith to Christianity, and I'm going beyond my area of expertise. There's this idea of kind of, perfect, this idea of kind of in-group and out-group preference, right? And where I view both, I think Judaism and both Islam have a bit of an in-group preference, and then we see kind of what that can, the issues that might create,
Starting point is 00:31:19 and how it can also leave like a Christian population more vulnerable to these tactics because it's more of a universal religion, at least in my view, my limited understanding. But the reason I bring that up in the context of Russia is that I don't really get why the U.S. and Russia don't necessarily have a more favorable relationship because it seems like there is a much, I would say, a closer relationship in terms of the underlying culture. Like you have basically a ethnically white Orthodox Christian population in Russia and you have similarly in the U.S. I would think they would have more in common even on a cultural level than they don't. If it's just an echo from the Cold War and from the Soviet Union or white is that those two powers can't get along. I think it just nailed it. I think our relationship with Russia was going to stay bad until the last of the cold warriors died. And you got guys like, what's his name, Degan?
Starting point is 00:32:09 Deegan. I keep forgetting his name, but he was one of the most famous. I got to read a book about him. I've got it on my phone. And when we moved NATO eastward after promising not to do it and immediately planning on doing it, it. So we light our ass off. But Baker, Baker got together with whoever, like Grimico or someone, and said, look, we won't move, we won't move NATO East if you don't move the Warsaw back west. And then we broke the promise. And we made huge mistakes, my opinion. And I think it
Starting point is 00:32:46 was cold warriors who just could not get over the fact that there was, that the Cold War really should be over. And they were not letting it go. Victoria Newland. What a sack of shit. What a sack of shit. That Christia Freeland. You know, there's just some real losers out there.
Starting point is 00:33:04 Oh, geez. I think she's a total junkie, by the way. I think she's a total junkie. I would not be surprised, right? She definitely doesn't even if she said
Starting point is 00:33:11 a Canadian intelligence guy told me she was. Okay. That's a very reasonable source too. Yeah, she got to pilfer our treasury there, give it all the Ukraine, and then go take a job in Ukraine. Pretty amazing.
Starting point is 00:33:25 and that just goes going back to the initial point most people just completely skirt by that without even thinking twice that carnie still won after trudeau what was the name of that chick who was singing show tunes who was supposedly put in charge you remember the one who's singing you know sound of music show tunes what's her name which i wrote about her too but she she got put in charge of some uh sub sanitized um department um department of home and something or other. And then you find out the fact that she had been all over Ukraine. She was a total, you know, boots on the ground spy for us.
Starting point is 00:34:09 But, you know, it's like she wasn't just some clown. She was, she knew what she was doing. And then they got rid of her. They got rid of her. It wasn't working. Coin kite has been in the game for years, creating hands down, the best and most secure heart. when it comes to securing your Bitcoin.
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Starting point is 00:35:30 so earnings don't just stop. And every machine is insured at full replacement value. Everything is hosted in the U.S., powered by hydro, and mining equipment may qualify for 100% year-one bonus depreciation. Learn more at abundant minds.com slash sessions. That's one of the hardest things about today in the moment that I've learned so much over the years that like even like before the Epstein documents too like even go like Pizza Gate and these things like I'm pretty sure that's happening but I don't really know that that's happening right it wasn't necessarily confirmed so like part of my mind can go like well maybe maybe a paycheck but you wouldn't want to win in court yeah exactly and then as things continue as we see more and more it's it's getting to the point where it's like I'm going to go insane because I don't feel like I can trust anything that I'm necessarily seeing even if what I'm seeing is in fact happening I don't know the motivations. I can't tell if there's something else behind it or what's being
Starting point is 00:36:25 motivated to. And even going back to that idea of like a, what's it called like the demotivating the population for basically disinformation. It's like, I consider spinning my wheels because like, I don't know. Like Thomas Massey too. Like I like a lot of things that Thomas Massey is doing. But my immediate instinct is that you do not rise to a position of power unless you were already corrupt. I had that same sort of base fundamental. So it's like, okay, is this just another operation? Is he just basically playing the heel for me? You know, you can even, can see in things like there used to be this guy who looked like Fabio, who was in charge. He's a regulator in the precious metals market. And he kept convincing people we were about to crack
Starting point is 00:37:03 down on J.P. Morgan and get him to stop spoofing the metals market. And then he retired, nothing had happened, you know. And I can't remember his name either. The name's not coming back to me. I was watching a YouTube, one of these things with the AI where they show the young guys, and the old guys. I realize I'm now one of the old guys and, and, and, um, any of that, never mind. It gets so hard to discern. I've seen the same ones with like plastic surgery, right? But you're right. They can, they can demonstrate anything to us at this point that you can't, you can't believe you're lying eyes. And those masks that they put on. How about those masks? Those lifelike masks. Whoa. So if you really want to not be recognizable on some video,
Starting point is 00:37:52 you just put on one of those masks, there's no way they're going to figure out who the hell you are. Well, even speaking to that, too, I think it was, I think it was, the Soviet games. I had one of my buddies recommended book,
Starting point is 00:38:03 basically on the Cold War. And it was talking about, like, the CIA and the KGB, and their involvement then with Hollywood and everything they were doing then. What was the name of the book? I think it was called the Soviet games. It might have been something like that like that.
Starting point is 00:38:15 I'll try and find it again. I haven't read it in a while. But we know of the relationship between, like, even if I see a video that comes up with like, that's not Joe Biden. It's Joe Biden in a mask. It's like, that technology exists. Like, that's not impossible, right? And I know this is a problem. Weird scenes in the canyon. You ever heard of weird scenes in the canyon? I have not. It's about Hollywood, Laurel Canyon, where the rock music really germinated. And so it was Frank Zappa
Starting point is 00:38:48 and the beach boys and all these guys. And they all kind of showed up at the, at, at about the same time. And it turns out Jackson Brown, the Beach Boys, all these guys, it turns out their parents were all super deep state.
Starting point is 00:39:07 We're not just talking a colonel in the military. We're talking CIA spy sort of deep state. And you're going, what the hell's going on there? And the book, Weird Scenes in the Canyon makes a very compelling story that Laurel Canyon
Starting point is 00:39:22 was very much a CIA operation and that they were controlling sort of the mood of the country through the, you know, Timothy Leary was there, Spielberg was there, and that they were controlling the mood of the country by controlling the sort of the 60s rock movement in the country.
Starting point is 00:39:42 And some of the musicians, when they started, didn't even know how to play the instrument. They were that bad. Crosby stills Nash and Young. I think Crosby couldn't play an instrument. and Stephen Stills actually cut all the tracks for their, for their albums and stuff like that. Well, they've been playing those games for a long time.
Starting point is 00:40:02 I like it's, it's an oldie but a goodie, but you can go back to like Operation Mockingbird. And if I'm not mistaken, I'd have to go and pull the information to remember exactly how, but I'm pretty sure like the feminist movement was another CIA operation as well too. And that's been well established in document. Gloria Stein.
Starting point is 00:40:16 I'm CIA. Yeah, I know. Um, and the question is why, You know, and I'm trying to remember that I've heard explanations. None of them are jumping out at me right now. But certainly the feminist revolution gets the kids out of the home and into the state-sponsored schools. So, and state-sponsored schools started with the Prussians because they wanted to groom the kids to be more Prussian.
Starting point is 00:40:43 They want to basically doers, not thinkers. Yeah, they want a sir, yes, sir, youth. And we've done that, all the whole woke thing. right? All the kids who got brought up and, oh, you know, you don't use fossil fuels and, you know, you can pick whatever gender you want and things like that. So we've turned the kids' brains to mush. And that may not be a coincidence. No. There's also the tax implications as well, too, right? Yeah. Yeah. And even just look at the political divide. You can look at married couples versus unmarried couples. And I can probably guess more likely where you're going to be on the political divide. Right. Well, also the demographic plummet is big. I'm actually sort of supportive of it. You want to make the argument that we're consuming resources too quickly,
Starting point is 00:41:31 then we better cut the population. I'm not really thrilled about the idea of using a vaccine to cut the population. But, you know, I'd rather just, you know, I've kind of pondered whether it's possible that Japan's actually in the best shape because they're the furthest along in reducing their population. Well, I'd say, I'd phrase this up. One, by the way, I found the book. It was called the Moscow Rules.
Starting point is 00:41:55 That was the one that I was looking for, the Moscow rules. But with regards to, like, cutting the population, it's like, one, the kind of seen talking out of both sides of their mouth, particularly in Canada here, too, where it's like, oh, we need more immigration in order to sustain the economy. It's like, no, no, if we need more people, I know the recipe, I can teach you guys, we can make them the old-fashioned way. And then we can also deal with them in a more controlled manner in terms of we can see the population growth and we can kind of project what we need in terms of infrastructure
Starting point is 00:42:17 as well. but even for going back to the environmental consumption too that's the same reason i would argue against debt right because if you're so concerned about environmental destruction and consuming resources well then get rid of debt because that's just basically allowing you to consume in the future consume now instead of in the future on top of that the i would make the case that we really don't need to worry about population it will find a nice equilibrium so long as we're not screwing with the money and the obvious kind of example for me is something like home priorities home prices, right? And so if we had basically a closed, we'll just say closed society,
Starting point is 00:42:52 the whole thing's boarded up, nobody in and out, it's only population growth within, that if we have a population boom, there's going to be higher demand for housing infrastructure is going to raise the price of housing. It's going to make things a little bit more expensive. Therefore, you're going to see people kind of come back on having kids because it's harder to accommodate. As we've got to get that slug going through society, the boomers or that generation is finding that they can't sell the real estate to anybody because there isn't enough around. We have the decreased decline. Prices and things would correct down, and you'd likely increase than in population and people having more kids, that you need that price mechanism feedback to know how
Starting point is 00:43:22 we are doing in terms of resource availability and that population will similarly flow kind of, will ebb and flow as needed, right? Like there's, there's, it's very possible that could a contraction, especially with improvements in AI and productivity could be the way to go. Or maybe not at this point, but if you keep screwing with the cost of living, we won't actually be able to find out. There's no there's no evidence that these tech moves that we've seen increase productivity, increase growth and wealth. It turns out the guys who actually look at this using sort of, you know, the cold light of day,
Starting point is 00:43:55 say that even though it seems like these technological changes, like Grantham, I just finished Grantham's book, and he says the growth in the economy, growth has slowed down steadily for 25 straight years now. And so he said, well, what about the internet? And they go, well, okay, but it, I mean, it's just kind of replaced television to preoccupies us, right?
Starting point is 00:44:17 It's just, it's, you can't find, you can't find the tremendous advantages of the internet in the numbers is the problem. No, I would largely agree. And how do I see if I can frame this up. It'd be something along the lines of, and for me, again, being a Bitcoiner, everything's going to go back to the money,
Starting point is 00:44:36 the problems with the money, but I'm thinking more about the price signal distortion, is that you look at like the productivity gains up until like 1971 and then going off the gold standard and how it's gone since then, that we have so much, I would think that technology in the internet is covering up for even how much worse it is for basically malinvestment as a result of distorted price signals.
Starting point is 00:44:56 Well, we certainly broke the price discovery mechanism in almost every asset class in the world. Right. Actually, I want to unpack that a little bit, too, is that where are we kind of in this, I think it's the third asset bubble? I think I've heard you refer to it before. where are we kind of in that? What signals are you looking at? And then the other one I kind of want to tease apart too
Starting point is 00:45:19 is that who's going to pay the piper for the bill? Because I kind of go two ways about it in the sense that are we going to paper over it so that the boomers don't have their assets basically collapse into nothing and stick the bill with the younger generations or are we going to actually go through and see a major correction in nominal terms and not strip mine the kids? I think we're in an insanely top-heavy meta-stable situation now. What you don't know is, is it going to become unbelievably insanely top-heavy and then super-duper
Starting point is 00:45:59 unbelievably insanely top-heavy? So you don't know when it's going to burst. I truly believe that we will have price discovery. I don't have a good model to. explain it, but I have this almost faith that as the boomers try to pass their assets on,
Starting point is 00:46:20 they will reprice. Interesting. And I don't have a good clear mechanism yet. I just have this funny feeling. So, for example, stay within the family. No one takes their parents' house. Farmers, right? Farmers will take their parents' house, right? But most people
Starting point is 00:46:36 so that they inherit it, they sell it. My kids, and this is generally true, cannot even afford the taxes on my house. Yep. And so somehow, let's just keep it simple,
Starting point is 00:46:52 they inherited the house, they couldn't afford to live in it. And so it's got to reprise. Things have got to reprise. And I have the markets, most people, everyone knows the markets are nuts, right?
Starting point is 00:47:06 Never knows they're nuts at this point. But the problem is, nuts isn't a number. And so you'll hear people say, well, the valuations are insane. And I go, put a number on it for me, right? Because you can imagine a person saying, well, it's 30% over historical average valuation. I go, that's not insane. I have the markets at 200% over historical average valuation. Wow. And that means that to get back to historical average regression to the mean, not through it, to it, we're talking 70% correction. Now, Another way to think of it is if you just say, well, let's just grow our way out.
Starting point is 00:47:43 Then you say, let's let the GDP be 2.5% a year, the GDP growth. Let's assume that over some number of years, some number n of years, that the markets will regress to the mean. Forget about the path. You don't need to know the path. Just imagine after some number of years, the markets are sitting at the historical average valuation. because we grew our way out. And the number of years required to grow your way out is 45. And so you can't grow your way out.
Starting point is 00:48:17 We can't go 45 years for the markets treading water. We can't actually. But they become absolutely uninvestable markets. You might be able to speculate, but you can't invest. And so we have a huge, huge imbalance to deal with. This is like, you know, you've got 30, thousand on your credit card. You got to do something.
Starting point is 00:48:40 Something's got to break. Something's got to give. Say, well, why can't you go to 40? Yes, you can go to 40. You can go to 50, but something's got to give. There is no asset class of history of capitalism that's got way over value that didn't eventually find
Starting point is 00:48:54 its way back to cheap. You'll never be able to name one. If you try to name one, you'll likely name one that right now has not gotten back to cheap. But you won't name one historically that got up there and just stayed there, you know. So I think, you know, people focus, the AI bubble story everyone talks about, I think it
Starting point is 00:49:14 trivializes the problem because it's, it's a bubble within a bubble. So it's a classic bubble. It's a big one. Yeah. But it's within a much broader bubble that I think is just as bad as the AI bubble itself. You got the real estate. You've got, you've got, you've got, you've got, you know, K-Shiller PEs that are, that are, you know, historical average is 15, it's sitting at 40.
Starting point is 00:49:41 I mean, this is an unbelievable, unbelievable overvaluation. So we are, I believe, above what the NICA was. And the NICA was up. Yeah, I could be wrong in that. That's the one bubble. I'm not sure whether we've exceeded. But Grantham's book is really good on this topic, by the way. Grantham was a classical value investor.
Starting point is 00:50:04 And he talks about, he says, the markets were insanely overvalued in 03. Think about 03. We were at the end of the dot-com bust. He said the markets were insanely overvalued in 03. At the end of the GFC, at the very, very bottom, where the markets had done a red bull swan dive from 50,000 feet, we got back to fair value, but not cheaper. We got back to historical average valuation, but not cheaper.
Starting point is 00:50:31 We should have gotten cheaper. There should have been damaged along the way. There should have been broken teeth, broken bones. We should have gone deep, deep cheap. And we never did it. We bounced right off at like a golf ball for Card Path. And if I'm mistaken, that was it bottomed in like 2012 too, so it took like four years to get there. Well, the bottom was in 09.
Starting point is 00:50:52 What's absolutely... Oh, the real estate. Yeah, I don't know. But the equity bottom was 2009. By 15, the gurus, I don't mean just guys writing blogs. I'm talking to Stan Drucken Miller, Howard, Marks, you know, Ray Dalio, who I don't think is actually a guru. Big players, Alang, they were all saying we were yet again at insane valuations in 15. And where did we go from there?
Starting point is 00:51:23 Straight up. So you say, were they wrong? Are we that much more insanely whacked out? I think it's the latter. So I think we've got to come to Jesus moment. Now, here's the interesting story. said Trump was going to hire a wuss, right, to head the fed. They would hire some, you know, Trump's bitch. Something like Lyle Braynard would have been a logical person. I think she'd be highly
Starting point is 00:51:45 malleable to do whatever she's told. And instead they put in Kevin Warsh. Yeah. Now, I don't know if he's going to stick. That could be one of these bait and switch, like making Matt Gates Attorney General for 20 minutes. But Warsh has been a severe critic of the aggressive monetary policy of the of the Bernanke era. He's hypercritical of it. He was hypercritical of Greenspan. And so here's what I've been thinking about. The Fed chair seems to be put into place for a reason every time. So you go back to Volker, run away inflation. He put in a hawk, Volker. Reagan is president. We're at the beginning of a boom. He obviously is a free market guy, although he spent a fortune from government, but he was a free market guy, at least in
Starting point is 00:52:35 So who's he putting puts in Greenspan? Who's an Ein Rand, acolyte, right? So then Greenspan's in there for a long time because we were perfectly poised for a long bull market. It had nothing to do with Reagan. It had to do with where we started and things were happening in the world. Guaranteed we're going to have a bull market. And then we replaced Greenspan with Bernanke in probably 2005 or something.
Starting point is 00:53:03 And here's the funny thing. We were arguably unknowingly on the cusp of a Great Depression. Now, I would say it was arguably is not the word because I wrote about the subprime crisis in 2002. And others were screaming about it before that and after that. And so we put a guy ahead of the Fed who happens to be an expert on the Great Depression right before we hit the GFC. Right? It seems a little acquittal. So then, okay.
Starting point is 00:53:35 Who'd we go with next? Well, Bernagie was stepping down. But I think it was clear we wanted to keep the insane monetary policy going. And so we put in a sock puppet, Janet Yellen, right? She'll just, she'll do whatever she's told. Yeah. Then someone decided, okay, it's time to try to sober up a little bit. And so they put in Jay Powell.
Starting point is 00:53:57 And he got their rates up and he quantitatively tightened a little, no or near as much as some of us hoped. But he was, he was, he appeared to have been put there. to sober up the system a bit. Right. Disappointed, but disappointing, but it wasn't awful. And now all of a sudden you're saying, okay, Trump wants a guy who's going to print, print, print, but they put in Warsh. And Trump can't be so oblivious.
Starting point is 00:54:23 They didn't know Warsh. Warsh has two issues, one of which is totally theoretical. His uncle is one of the most profound Zionists on the planet. Of course. I got him Lodder. I got him Lodder. Look up Lodder. And so, and there's no reason to believe that this is part of the story,
Starting point is 00:54:42 except for the fact you're going, did Israel just get their guy? I don't know, right? But more importantly, this hawkishness, we're saying, okay, is it possible that the system now is, you know, screaming and that the guys who are advising say, okay, we have to do the reset in earnest now. So they put in a hawk.
Starting point is 00:55:10 Is this the guy who's going to usher the system down to the bottom finally? And if Warsh ends up being head of the FOMC, it means that this narrative that Trump was going to pick a bitch to do his bidding is not correct. Or, or Warsh is a complete liar the whole way for the last 15 or 20 years. And then he's just going to be a wimp. I'm voting with the he's been brought in to finally finally let the Jenga Tower fall interesting
Starting point is 00:55:47 I'm reminded of going to the bitch theory I'm reminded of Greenspan because again like his writings before and after the Fed are much better than he seemed to be as positions as head of the Fed and was Ego got the best of them right probably he loved being the savior he got he was intoxicated by the power
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Starting point is 00:58:08 So, 1981. And if you've listened to other podcasts, you've heard it. But I presume the bend diagram of your followers and other podcasters is not 100%. So, 1981, the boomers were hitting the workforce. They brought their wives with them. So demographics was a huge tailwind. The markets were the cheapest valuation in history in 1981 because inflation was roaring, but that's why they were so cheap.
Starting point is 00:58:35 And so if you were an investor in 81, you could not possibly lose money because the bond market was returning fantastic returns at that point. The stock market was returning fantastic returns because we had rung the system out in many ways. The China was coming out of the dark ages and started selling labor for pennies on the dollar. So they were keep, they were, they were huge disinflationary tailwind that allowed us to just keep spending, spending, spending because they would sell a shit that you can't fathom how they made for that cheap. You had, and a big interest rates were what, about 17 percent? And Buffett wrote an article in 99 that said, what matters is the direction of long-term rates. For the secular bear, secular bull long-term rates, he said in 67 to 81, the GDP was fine.
Starting point is 00:59:31 It grew fine. The rates were going up, and therefore we had a horrific bear market, which inflation adjusted. You lost 75 percent over 14 years. from 81 to essentially the present, almost the present, five years ago, rates were dropping monetetically from 17 to zero. And so you had this phenomenal tailwind of dropping rates, which means that people, which means that the fixed income market was less and less competing against the equity market for investment opportunities.
Starting point is 01:00:06 And so we had this fabulous bull market that I believe had nothing to. to do with Reagan. I mean, Reagan might have been helpful, but whoever was present in 81 was going to be the guy who was present at the beginning of a big bull market, in my opinion. Reagan did some good stuff, but, but, but he, it's not like he triggered it. He might have even been the spark, but the fuel was not Reagan. And so, so then where are we at? Which of those tailwinds do we still have?
Starting point is 01:00:37 we were the reserve currency. I, for the life of me, can't understand why you need a reserve currency at this point. Your hat tells me what you think. I already know the answer. But with the advent of supercomputers, why not just have a basket of currencies? It's just a currency. That way you're not, you know, they talk about the Dow getting strong and weak and strong and weak.
Starting point is 01:01:01 Just take the five biggest currencies and just make an index and say, and I want to tell you asked Lynn Alden, why do we need a reserve currency? She says, because you got to write contracts. And I go, well, then use the basket. Yeah. There's no reason that the computer can't give you an instantaneous price on something with a basket of currencies. So you're not being whipsawed because one currency is going back and forth.
Starting point is 01:01:25 And when people say all the dollar is strong, therefore there's no inflation, they go, are you an idiot? You have any understanding that a strong dollar is because it's strong relative to other stupid currencies? Yeah. So I think all those tailwinds push the bull market for 45 straight years. And I think the last couple of years has been just momentum, just FOMO, passive investing, you know the drill. It takes a long time.
Starting point is 01:01:58 I think the markets in 07 were breaking in Marchish of 07, but it really took another year before people started to hit the conscious mind. People realize the things were happening. So I think it's taken a couple of years for the muscle memory to be dealt with. But does it feel like to you like the markets are on some precipice? Finally, does it feel that way to you or not? Because it looks to me like the NASDAX's laboring, looks to me, the S&P's laboring. The metals are confusing the shit out of people.
Starting point is 01:02:29 The difference in gold is a really wild story, which I don't understand. So we could be looking at a 20 or 30 year bear market. Yep. That's my opinion. I don't disagree. I also think that we're going to see basically a secular uptrend in long end treasuries, right? Yeah, yeah. The credit cycle has turned.
Starting point is 01:02:53 Yeah, 100%. I can see basically them trying to inflate it. What's your background, by the way, Nathan? I don't know anything about your background. What's your background? That was my old touring drum kit. And then that was the first drum kit I had as a kid. that my kids play on. So you're a musician? I was. I was a, I worked in university in in immunology
Starting point is 01:03:11 research for years, but when my, in my youthful beauty before I learned to smart and the fuck up, I toured around playing in punk bands and ska bands and things. And then just a couple books there too, even it's a little bit out of shot, but I have provoked from Scott Horton. We were talking about the relationships between U.S. and Russia on my shelf back there as well. Thinking of guys who are not bashful about speaking out, Scott Horton, one time I was binging Scott Horton video. So I decided to dig back and look at some from the past and I ran into one that I had done with them. I'd totally forgotten about. I go, oh, fuck, I forgot about that.
Starting point is 01:03:42 You know what that one was caused by? It turns out I got into a brawl. I don't know for sure that they were fighting back, but I sense they were when the Scripaw, father-daughter team got poisoned in Britain by supposedly the Ruski's. I called out the Brits and said, you guys are a bunch of liars that is not uniquely Russian technology. And they could have ignored me except George Galloway picked up on it.
Starting point is 01:04:09 Then Al Jazeera picked up on it. So I did a couple of George Galloway interviews. And then the Port and Downs guys, which by the way were located eight miles from where the goddamn poising of the streetballs were. It sounds like Wuhan, doesn't it? It turns out they came out and said
Starting point is 01:04:27 it's not uniquely Russian technology. And so it's like, I told you, It's simple, simple, simple organic chemistry. And so that's how I got to know, Scott, because he did a podcast. He might have mean to talk about that. That's what it was. He's wonderful on that stuff. I also be repressed to ask, speaking of organic chemistry, if I were to say, what is it,
Starting point is 01:04:47 C9H9, N03, is the stuff on that compound even remotely true? Completely different side tangent. C9H9. I bet I can guess what this is N03. Is that adreno? That is the one. Is that shit real? Well, it's a real compound.
Starting point is 01:05:10 Fair enough. It's a real oxidation product of, I think, adrenaline. Adrenaline, sorry. I am of the mind that this whole story about Pets and satanicults and stuff is true. Again, the breadth, the depth, I don't know, but I think it's true. Now, here's the deal. You can buy Adrenicrom. if I say that, I'm going to get you booted off.
Starting point is 01:05:34 I'm not going to monetize this one to play it safe. Okay. You can buy it. But here's the deal. The people who would take it adrenicrum thinking it's going to make them live longer, which is the idea, right? Are going to also, to the extent they believe that I think it requires a sort of a delusional mind. I do not believe in any of that to be true.
Starting point is 01:05:58 But they're also going to think they need the natural stuff. rather than some chemical company's product. And as you and I both know, that the way you get adrenachrome from the natural sources, you take some little kid, you torture them to the edge of death, and then they drain their blood, you do a transfusion, right?
Starting point is 01:06:15 Yep. There's a lovely plot line for you. And I think people were doing it. I think people are, in fact, you know, they say, you know, a million kids a year disappear globally, and the big Arabara. And the question is, where do they go?
Starting point is 01:06:32 $350,000 a year coming over the southern border. Where did they go, right? I don't think there's that many pervs. I think they were being harvested for adrenachrome organs. You got it. And hey, you're picking up on Epstein ordering barrels of sulfuric acid for his island? You're picking up that? Yeah, I saw that one as well, too.
Starting point is 01:06:52 It seems like he was a bit of an amateur chemist with everything going on. Yeah, he was dissolving calcified parts of the body, I'm told. So in any event, so I think there are people who believe in the adrenachrome, and therefore I think there are people who are willing to do their count Dracula move and drain some kids blood into their body. You know, in Asia, supposedly they cook dogs, which is gross to me. I have five dogs. So the idea of eating dog just doesn't appeal to me. Mine would make it most in hors d'oeuvre, except for the lab. You could feed a village with her.
Starting point is 01:07:24 but they cook dogs in a way that they stay alive. Oh. So they kind of drop them in slowly. They dip them. And the claim is it makes the meat taste better. You know, and you grind up rhino horn. There's a lot of superstitious sort of things out there. So Sandra Bullock on a talk show one day made a illusion of something that sounded a little.
Starting point is 01:07:56 kinky and then there was the the four skin face cream yep who is that it was famous movie star talked about that i think it was her or was one of the other secretions from one of them a beer made out of vaginal secretions that's one way to get yeast all right yeah it sure is and then you get shit face then you get more yeast with your date okay so you're i'm kind of in okay so we think that it's definitely something that is going on and yet to your point i would think that yeah at this point Yeah. I would think that it's not a hard compound to make. I'm not really sure on the procedure to actually do so,
Starting point is 01:08:29 but I would think that that's not necessarily... I can tell you how much you cost us to buy it. Oh, there you go. Yeah, fair enough. We can just buy it. I can tell you. You want to know how much to buy it? Yeah, let's pull it up.
Starting point is 01:08:38 Let's see how much Adrienecom costs. You keep talking. You keep talking, and I'll, uh, Sigma. Well, you're looking at it up from Sigma, Sigma, I think it is now. The, um, I had a dinner with the founder of Aldrich Chemical Company. Did you? He gave me money. to start my research program when I was an assistant professor.
Starting point is 01:08:58 Oh, geez. I guess you're bought and paid for then as well, too. Yeah. Yeah. And, you know, the other thing, the other thing that's problematic is, and everyone thinks this is, here's my, my skeletons in my closet that people occasionally bring up. My son actually works at the Council on Foreign Relations. He just organized us the events, right?
Starting point is 01:09:16 Yeah, okay. I'm pretty confident he's not a bad guy. and my wife is Ezra Cornell's third great granddaughter. Oh, geez. Oh, they don't sell a Sigma Odrich anymore. I wonder if maybe there's a reason. They don't want that publicly searchable anymore. Totally random side tangent.
Starting point is 01:09:40 I used to buy a shit ton of parasitic acid from those guys. That's what I needed for work. And I got a lot of it on hand at all times. But even just jumping back to even the idea of adrenaline call, maybe like say 10. Price per kilo. Oh, good. We can buy it by the kilo.
Starting point is 01:09:53 So you were worried about getting older. There's no need. We've got the stuff right there. Put it this way. You can afford it. Here it is a per milligram. It's 11 bucks. Okay, that's a milligram's tiny amount.
Starting point is 01:10:08 Price per 100 milligrams is 495. So it's a little expensive. It looks like a real simple molecule to make when I stare at it. I think I don't see a good reason why it would be expensive. A couple of carbon rings and we're off to the races. But even going back to the idea of like child sacrifice rituals, like that's a very old human thing. It's a very dark part of just human nature that we've been sacrificing children
Starting point is 01:10:37 for the weather gods and for God knows what for basically entire human existence. So the thing I don't do is dig back into that old history. And one of the reasons, and I've stopped digging actively, I'm more passively collecting now because it's so dark. I realized I was suffocating from it. I was really suffering. But one of the reason not to go back is because the further back you go, the more your audience believes it to be some ancient thing.
Starting point is 01:11:09 Yeah. And so I say focused on the, oh, by the way, I think these guys are doing it right here, right now. You know, as son of Sam, for example, was David Burr. which was in a satanic cult. And there were multiple shooters. It wasn't just David. And he said he was talking to his dog who'd talk back to him and stuff like that.
Starting point is 01:11:29 But he then all of a sudden started acting real sane and reached out to a reporter and said, I got to tell you some shit. And it turned up there was this this, this satanic cult that was spread all over the country. And had had locations in Minnesota and L.A. and places like that. And he described some satanic sacrifices that he shouldn't have known about if he were not part of this cult. And as Mori Terry, the author started chasing down the leads. People were dying. As soon as he got close to them, they would die.
Starting point is 01:12:03 So, yeah. And the feds covered up. That's the most surreal thing about all. You know, the finders cult where they, Tallahassee cops picked up on this weird shit, where they intercepted about a half a dozen kids who were reported to be in some park or something. And they brought them in. They looked emaciated. They looked on a nurse.
Starting point is 01:12:24 They had bug bites. And they had no understanding of the world. They didn't know their last names. They didn't know what a telephone was. They didn't. Everything was wrong. And then another group in D.C. And they said, wait a minute.
Starting point is 01:12:40 This is the same group. And they started piecing together. of this network and then next thing you know the FBI comes in and next thing you know the CIA comes in and next thing you know they wrap up the case that's gone yeah and that happens all the time
Starting point is 01:12:55 happens all the time well even at the start the conversation you mentioned we're talking about like the recent shooting in Canada I brought up as kind of like just just a representation just how far off the truth people are at this point in time when they just repeat the most insane things but you mentioned M.K. Ultra right? I know I don't remember if Manson
Starting point is 01:13:12 was part of Satanic cult as well too but I'm pretty sure Manson was MK Ultra and so was Ted Kaczynski. Kaczynski, Manson, probably, um, uh, one of my friends was on Kaczynski's kill list when they,
Starting point is 01:13:26 when they, what? Yeah, he was on his list of to-does. He was on his, he was on his to-do list. Um, guy who altered my career quite a bit with some advice.
Starting point is 01:13:35 He's now dead. So there's that, as Bill Gates would say. Um, and, and there are others. There's a woman who's an expert, a woman named Elizabeth Nixon who dug into it because she found out her mother was whacked from it. Oh.
Starting point is 01:13:51 And her mother spent time in McGill University where CIA controlled the MK Ultra program up there in a very big way. Yep. And so she quit her job as head of European Division of Time magazine, right? This is not a trivial thing. And she studied MK.K. Ultra. And in the middle of a podcast with a friend of mine, a guy I've known for 20 years. years in the middle of podcast, she starts talking about this. And my friend is not one to go down these rabbit holes quickly. It's not like me where you, I see a rabbit hole. I'm down it.
Starting point is 01:14:24 It's good to check it out. Yeah, there could be rabbits. Who knows what's down there. I'm going down that sucker. And he doesn't. But in the middle of this podcast, she starts talking about it. And he's sort of asking her about it. And then also she starts talking about how Kamala Harris has all the traits. I think Erica Kirk easily. Easily. Let's just take every like sacred cow and go for all the fun ones. What's your read on that situation? Because I agree. I'm going to be showed a my feed is going to be basically curated to show me different things as well too. But I do find it weird. And there's something, I see this come a lot of times with you'll see like hysterical people on the left where my only comment is I can see it in the eyes. Like I can just see something in the eyes. The eyes are big.
Starting point is 01:15:06 Right. Yes. So here. So there's a there's a there's there's a site call 50 voices where there are 50 interviews of survivors and they talked about their experience. And when they talk, you can hear the different categories. You can hear the satanic group. You can hear the military experiments. You can hear various intelligence groups. You can hear just high-ranking perves. And they tend to categorize neatly.
Starting point is 01:15:36 And these are people explain their, you know, like Annika, Lucas under pressure by Patrick Bet David, while crying fessed up when Patrick pushed her to admit that David Rockefeller was her owner, basically. And I was in a Zoom call with Juliet Engel and Kathy O'Brien, who are two very famous survivors. Kathy possibly the most famous. And for decades, he's been talking about it. And she, so that part of the Zoom call was not that interesting because I knew so much about what she said.
Starting point is 01:16:11 There was nothing new. Juliet Angle, though, was more interesting. And she did a podcast with a friend of mine named J.J. Carroll, who started out as a border guard and he started looking into the trafficking. And now he's a total New World Order type. His transformation was unbelievably quick. But she said, you know, she didn't know she had been trafficked. She got an MD degree.
Starting point is 01:16:36 And the one thing that she could not make sense of is she. She had zero memories of her childhood. She could not remember anything. And the memories started coming back and had long chats with Nick Bryant, who I think is the most scholarly of all the Pito Hunters. And he said their memories suck. If they don't remember something right, you can't say, oh, therefore they're lying. Because they're piecing together memories from just shards.
Starting point is 01:17:04 But you can be talking to someone and not realize that you're talking to one of 10 personalities in that person's head. And that personality does not even know about the existence of the other nine. And there are people walk around. You got to figure the streets of San Francisco and all these wakadoodles who are junkies. A lot of them are fractured personalities due to various experiments done to them. And so Kamala, who I think she painted herself as like her mother working two. jobs and blah, blah, blah, blah, blah.
Starting point is 01:17:41 You know, it turns out her mother was a professor. Her father was a neo-Marxist at Berkeley. Her mother was a professor of McGill, hello. And she said she's got all the traits. I had been kind of bird-dogging Kamala a little bit because something had bothered me. The victim, I don't know if it's generally true, but I've certainly seen a lot of them. They have flat personalities, which you can imagine. If they decide to destroy you, which they do, that's how they brainwash you.
Starting point is 01:18:14 They will destroy you. So your defense is just go bland. That at some level is both what you see in Erica Kirk, but then she's also got this ability to look happy as a clam. So that's another Erica maybe. But Erica has started life, best we can tell, in Romania trafficking kids with a Romanian orphanage. They got kicked out of Romania. What do you have to do to get kicked out of Romania, right?
Starting point is 01:18:41 I mean, that's quite a, quite a tall feet. And then next year, she wins Miss Arizona, which I talked to a beauty pageant queen just to confirm. But it would be the same as if I, if you handed me the drums and said, Dave, go win a concerto sort of competition, right? Go join a rock band. I go, it's not going to work. Well, you don't just be a hot chick, put on a bikini. win Miss Arizona for two reasons. One is your competition, Arizona is pretty stiff. There's a lot of hot chicks in Arizona. Whether it's warm. They're going to be there. Second is these women train a lifetime
Starting point is 01:19:18 to win these pageants. And so, so, and all of a sudden she just wins, right? Oh, what are the odds, right? And then you got this fact that she has been able to show no remorse at all about her husband's death. You know, fake crying. There's no tears. She wipes the tears up her face. There's no tears. Someone actually noticed in the memorial service that she wiped her face eight times, all on the left side. Like, oh, so your left eyeballs cheering up, but your right eyeballs not. So she learned to go both sides, you know, but there's still no tears. If you see someone who's like on the cusp of crying, like you're at a funeral and the family member has to give some eulogy, you can see them hanging off the precipice. Yeah.
Starting point is 01:20:06 You can see him on the edge. Yeah. She does not have that at all. And then she often can just change your mood, you know, abruptly. And so, so yeah, I think she looks like possibly MK Ultra, you know, Honey Trap. I think TPSA is very sketchy. I think, you know, Charlie got into it with him over Israel. And he, I'm not sure who Charlie is, by the way.
Starting point is 01:20:34 I've seen no direct evidence at all that Charlie was not who we think he is. But his background's very vague. Try to find his kids. Where are his kids? Where are they right now? This Bible thumping woman who believes in God and her kids are nowhere in sight, if your husband got shot in the neck assassinated, your number one job. to take care of your kids, not go shooting off fireworks
Starting point is 01:21:08 and traveling the country and leaving your kids with who knows, right? You have to take care of those kids. And there are no pictures of our kids from the front. You don't see their faces. Put up Eric, put up Charlie Kirk's children and look at the family photos. You don't ever see their face.
Starting point is 01:21:30 Then the one that was so toned, there's two videos that we're telling. One is her driving up to a TPSA function. The three-year-old-ish daughters in the front seat and she's just kind of talking and chattering like a three-year-old. And she sees the TPSA logo. And she starts going, oh, Charlie Kirk, Charlie Kirk. And I'm going, that's your father?
Starting point is 01:21:53 Yeah. You're calling them Charlie Kirk? And then the other one that's amazing is Eric and Charlie were doing a Meet the Kirk podcast. asked. They were taking questions from the internet. And this was really disturbing. They had been married for four years. And the question came in and Charlie said, oh, here's an easy one. What year
Starting point is 01:22:12 were you guys married? And he throws it to Erica. And Erica goes just like this. She goes, 2021. And I go, show me a chick who's been married four years. And I'll show a chick who does not hesitate in answering what year she got married.
Starting point is 01:22:32 Yep. And Charlie, jumped and started defending her right away, you know, trying to cover it up. And Erica, Erica's going, well, you know, it's been really chaotic with the kids and this and that. And I'm going, no, no, Erica. So I think she and then all the ex-boyfriends are showing up. And, you know, there's something so wrong. And I think I watch Candace Owens every chance I get. I am waiting for Candace. You know, here's the, here's the, almost a nugget of, of memory here for me.
Starting point is 01:23:05 I was supposed to have dinner with Charlie and Erica, Charlie and Candace. Yep. They were coming to Cornell, but then they got booted because no one wanted to hear them, that sort of thing. But I was scheduled to be in the dinner crew. And I wish I had because then I would have gotten a chance to read him.
Starting point is 01:23:25 And at the time, I wouldn't have doubted him. I thought Charlie was just a grifter. And he might have been, but you can't understand, understand how he got from being a fairly unpopular kid in high school, doesn't go to college, gets somehow some spots talent, which I don't see what they saw, and turns them into a rock star. So I'm still waiting for Candace to give me some hint that A, Charlie's not who we think
Starting point is 01:23:56 they are, some slip up, and B, that Charlie doesn't have kids. because I don't think those kids were real. I think there were props. I'm immediately reminded of, oh, Jesus, who is it? The, like, the NFL quarterback who's like with Taylor Swift, like completely fabricated. Look at the ratings.
Starting point is 01:24:21 They're doing great fabricated relationship, which, of course, they would do PR stuts and things of this nature as well, too. Of course there's attempts to try and control messaging and narrative as well. And even just, it goes right back, like the very start of this conversation is like, how the fuck do I know what's real anymore?
Starting point is 01:24:35 and I find myself doubting everything. So if you're listening to this, though, I defy, go search Charlie Kirk's children. You don't have to do it, but someone listening, just put it on pause. Go search child, Kirk's children, find photos. And in every case, like,
Starting point is 01:24:51 it'll be a family photo. And each parent will hold a kid and the kid's looking backwards. Backwards. When do you take a picture of your family with the kids looking backwards? And people defended, you know, the defenses are,
Starting point is 01:25:05 you know, they don't want people to know what their kids look like. And I go, well, then don't take a family photo. Let's start with that. Yeah. And then they're also going through airports, presumably, and stuff. And there would be photos. People would have self, everyone has a camera on the middle times. There's Charlie.
Starting point is 01:25:20 There's Charlie, right? Bye, my, man. And then a friend of mine used to see Charlie Kirk in the grocery store in Arizona. I got Mike Ferris podcaster. Yeah. He said he saw him a lot. Always alone. No family.
Starting point is 01:25:35 No family. Yeah, that's bullshit. tell you right now, so I've got, I've got three. There are photos. They do exist. But especially having a young one right now that's still under a year old.
Starting point is 01:25:44 My wife has me take one to three of them with me everywhere so she can have a fucking break. So there's no way you wouldn't be out of the house at some point with one of those kids. And even, it's funny because even if we go to the idea of like, well, they knew they were going to blow up and we're protecting privacy. The kids,
Starting point is 01:25:59 again, I don't post stuff of my kids online on purpose, but I'm sure the photos exist. Don't look for them. But you're not famous like Charlie. No, no, but he wouldn't have always known that either. So I'm trying to remember, like, where in the timeline he blew up? Because did he start obscuring them before getting famous, knowing that it was going to go in that direction?
Starting point is 01:26:17 I don't know, but the age of the kids tells me they had the kids right away from their marriage. And where did they meet? They met in Israel. Really? Yeah. Oh, God. Well, there's actually several narratives. And so there's a, Candice actually the other day went through, went through.
Starting point is 01:26:37 went through some series of narrative. She said, okay, I'm going with this one. But the story's all wrong. I mean, she doesn't have the emotion. Her eyes tell the story. I one time watched a TED talk of a woman making the case that pedophilia
Starting point is 01:26:57 was just a sexual preference. And I'm watching this. The first thing I was looking for is evidence that it was not even live. I'm thinking, is this just a setup? Are these heads, are they moved, the people in the audience, are their heads moving? Or is it just a still with her walk behind it? And then I know she had the flat personality.
Starting point is 01:27:18 Boom. She had the traffic look. There's this, there's this glaze. When you watch someone like Annika Lucas, who tells horror stories of what the brainwashing is, you know, being tortured, being tormented, at one point they gave her a puppy and then they made her kill it. And then she complained about being hungry one day and they brought up a rotten corpse of a blonde-haired boy and made them all eat it.
Starting point is 01:27:44 It's a whole other world if it's true, right? It's not, it's Aztec sacrifice time. And you watch Anika and she's just so calm. And it's just a coping mechanism. It's just, it's just. And they got nothing. left. They got nothing under the hood. So many, in my very strong opinion, so many
Starting point is 01:28:10 of the evils of the world stem from like childhood abuse and neglect. Like that's like, you do that and it destroys people and it results in all the shit that we that we see. Even the most recent shooter, I went to, the first thing I noticed, and it goes to my biases as well too. But with the recent shooting in Canada, I immediately went to try and search for the dad. Was the dad in the home? Was he even present? Right. Because kids who don't have a dad present in the home or a higher likelihood of abuse is children. And so even if it was, even if we go like the MK Ultra route, again, if dad's home,
Starting point is 01:28:40 dad's protecting, you're looking for the most vulnerable people. So again, we're seeing flat personalities. We're seeing tons of pharmaceuticals. We're seeing no male present in the house. Right. They're, they're marks, right? But I think some of them don't even have a family history. They don't even have a family.
Starting point is 01:29:03 They were, they're, they're basically a bread like a working dog. And, and so they're bred and trained. And some of them are bred in kept. Some of them were born into captivity, right? It's just, and you got these endth generation satanic types. And, you know, Oprah keeps getting, getting fingered by, by, by the pito hunters. I call them the pito hunters for want of a better term saying that Oprah is a big problem. I haven't seen hard evidence.
Starting point is 01:29:34 The hardest evidence against Oprah is there's a lot of photos of her with the guy named Father of God who's doing 10 life sentences for running a pedophilic satanic cult. I'm going to, why were you hanging around with him Oprah? Right? If she's hanging around with Diddy, you go, yeah, everyone knew Diddy, right? Yeah. She's hanging around with Bill Cosby, everyone new Bill Cosby. But, you know, hanging around with Father of God, yeah, you got a problem now.
Starting point is 01:30:00 No, I agree. They always seem to have, like, the worst. worst people around them. Again, of course, like, obviously it's not indicative of guilt, but it's like, that's pretty highly suspicious. I don't have a lot of people that have been like assassinated or suicided by somebody around me. I don't have a lot of pedophiles or satanic worshippers in my life. I don't think I've ever run into one that I know that. Well, Kathy O'Brien claims that Gerald Ford was jamming an upper ass, you know, I mean, um, Kathy O'Brien listed a, a large number of famous people, totally recognizable,
Starting point is 01:30:31 famous people who would had their way with her. And again, on the one hand, your brain wants to not believe it. So you say, how do you approve she did it? On the other hand, you got to be really careful. When I was talking to Julian Engel, I was trying to ask her, do you have a mechanism to sort through your memories to try to figure out which ones are real for you and which ones are not?
Starting point is 01:30:58 And she right away got pretty defensive And I backed right off Because the one thing you do not want to do Is say to a victim that you don't believe them Yeah And so they're pretty traumatized And a lot of helpful suggestions From Nick Bryant on some phone calls
Starting point is 01:31:18 He by the way won't call someone out Unless he has the goods Yeah And he named a number of famous people He thinks are seriously fucked up who he does not name in public. I guarantee it, like I almost guarantee it, right?
Starting point is 01:31:34 It seems like like the rumors around Hollywood in particular, and again, it even ties to the CIA and the deep state that's been going on for so long. Like even in the big... Nicolode. Let's just look at Nicolode. Holy shit.
Starting point is 01:31:44 You see that the symbol matches the island? Oh, yeah, yeah, yeah, yeah. That was the fun one the other day. The boy loves it. What do you make into this beef jerky subplot that's come out of the Epstein tapes I'd never heard of before? The beef jerky.
Starting point is 01:31:57 Yeah, so that one for me, even going back to like, we know they're satanic cannibals. We have to like that, except that is truth. It's clearly something that they're moving between. I'm even reminded of like the foreskin cream and like, would they believe that something to do with like stem cells? Had you heard of beef jerky as code word for human flesh? Nope.
Starting point is 01:32:22 Before the files got released. Nope. So I was the first time I'd heard of it. suspicious of that story. So I watched a video of a guy who went through a whole bunch of the different emails with beef jerky references in it. And I actually had the volume off. So I literally just paused it every time a new email came off and I just read the email. So I wasn't listening. I tell me what it meant. And I just read the email. And what I'll tell you is these were Jeff Epstein and his prominent friends, most of which were redacted, showing a tremendous
Starting point is 01:32:56 this love of beef jerky. Let's start with that. If you said, I love French food, you know, I get it. Even if you say, even if you say I love pizza, I get it, beef jerky, right? And they're talking about could you bring six to eight ounces of beef jerky over? You know, and so you get this adrenachrome feeling, right? You get the feeling maybe they're eating the flesh of children to rejuvenate themselves. Yep. And the only disagreement that I potentially have, the thing that sticks in my mind, and sorry for interrupting there. is that, like, with pizza and the other things, the item that it was didn't refer to the act necessarily.
Starting point is 01:33:32 Like, they were coded. They were not the same. Pizza wasn't referring to food. And so the only other idea that kind of sticks in my mind. The pizza really was wacky. The pizza story was wacky as hell, yeah. And I wonder if jerky is code for something. But, like, having jerky be flesh feels way too on the nose.
Starting point is 01:33:47 Like, I wonder if it's referring to, like, some sort of drug or compound or something else. It feels way to. Talk about it being refrigerated and so. yeah there's some there's mentions of having to refrigerate it and and and and there's just I just don't think there are that many people who have this love of beef jerky that's so much that you're talking to a famous networker Jeff Epstein about beef jerky and needing it right now it's definitely not jerky that would be like if there were a bunch of emails saying I just love you know peanut m&Ms you know and beef jerky strikes me as a family acquired
Starting point is 01:34:26 taste, right? There's a lot of people who say, no, I don't, no, I can live without jerky. And, but I haven't seen something where the reference of the beef jerky, you go, there's no way that's, they're talking about beef jerky. They've all possibly been actually just beef jerky. But then I saw Rogan chatting about it saying, clearly the beef jerky is weird of shit. I'm going, okay, maybe you've seen something I haven't seen, but I've been trying to figure out. The grape soda. Yeah, that one I don't know. Well, I'll tell you what they say.
Starting point is 01:34:59 I used AI to get to this one and it made total sense. So you keep seeing reference to pizza and grape soda. So the pizza immediately red flag, right? Pizza right away, red flag. Grape soda, I do not know many adults who are so wolfing down grape soda, right? That's really, you know, that really doesn't strike me as the beverage of adults. And pizza and grape soda strikes me as an odd. clashing of flavors to, right? If they said pizza and beer, I'd go, okay, I got it. Pizza,
Starting point is 01:35:32 you know, diet Coke, you know. But grape soda, according to Grock, which said, look, this is just what people are talking about, but I couldn't even figure out that was grape was G-hyphen rape, which is gang rape. So that's, that made, that seemed logical, because Now you can see the connection between grape and what it really is. And you go to the goddamn Podesta art collection and stuff. Oh, my God. Yeah. Oh, my God.
Starting point is 01:36:10 And if anyone's listening to this podcast and you haven't seen Tony Podesta's art collection, just search Tony Podesta art collection. And you will see some of the most hideous art you have ever seen, you know, satanic creatures with kids on their backs and cages and kids tied. up in their underwear and it's just awful. It's above the fold shit too. It reminds me of the Epstein photos of like Clinton and Bush as well too, like almost like they're making fun of us, having it in plain sight. Right. Well, I actually think, I've asked people this, I think to understand this, it helps to think of it as religion. Because religions
Starting point is 01:36:51 can get very extreme. As soon as you say, it's like when Matt Taibi was studying the, the crisis in 0809. And someone said to him in this moment of epiphany, said, you're treating this like a financial story. It's a crime story. And also, Matt goes, oh, my God, you're right. So this is, if you treat it as a religion, then all of a sudden, as a sex sacrifice and all of the,
Starting point is 01:37:15 you start realizing, yes, that's what religions have done. And, and so, so I think the comet pizza story is real. I think very suspicious. The guy went and shot it up. Next thing, you know, they're saying, oh, look how dangerous is to talk about this. So shut up about Comet Pizza.
Starting point is 01:37:35 It turns out the guy who supposedly went to Comet Pizza shot off one shot and hit the server. It hit the server. I don't think they're talking about the guy serving the pizza. And then not too long ago, he had a shootout with the police and got killed. Of course, right? That makes perfect sense. Yeah, yeah.
Starting point is 01:37:55 Clean that problem. problem up pretty quick. It's kind of like January 6 of the 60 to 80-ish cops on the beat at January 6, four died of suicide. Yeah, right. Right. I do not need that I do not need to know a lot of details to say there's something non-statistical about four suicides. So you don't have to be a statistician to realize that that's a bit of an unusually high frequency, a little bit above the curve. There's the by the way, giving a worse days than January 6. Those cops. That was that was easy compared to going in a trailer park and breaking up a domestic dispute, right? Yep.
Starting point is 01:38:29 Or chasing some guy solo at night, right? There'd be much more dangerous situation, probably worse things that you've seen. Got it. I just have to point out, too, by the way, because I had to verify this, but I'm pretty sure I saw that with regards to the jerky to go into where it may be leading to, the jerky was prepared by a chef who was running at a restaurant called Cannibal. I saw that. No.
Starting point is 01:38:51 And that makes it a little bit more interesting because I would not name a restaurant. restaurant, cannibals. Let's start with that. Yes. Right? It's just like, why not make your food sound more disgusting, right? Cannibals. Unless it's just, unless it's social signaling.
Starting point is 01:39:10 Spirit cooking. Oh, so what I was saying before, and I got distracted, which is common for me, I think within the religious context, I believe that part of your role is being a member of this group is to show it.
Starting point is 01:39:29 So, you know, all the, all the guys doing this over their eye and stuff, they're all showing, they're all showing they're a member of the club. And then there's some symbols with the hands, which I don't want to do. One boy, I was talking, a guy named Eric Rice, who really knows and shit well. And I said, what's that symbol? He says, no, I'm not doing it. But there are hand signals, which LeBron did one day. and there's pictures of LeBron and a dress.
Starting point is 01:39:56 And I don't know if they're real or not, but if it's real, and he obviously is up to his ass and a weird shit. So, yeah, it's a, so the question then becomes, and I was talking to my brother about this this morning, is it possible the world's so fantastically screwed up that we just couldn't fathom it?
Starting point is 01:40:19 And I'm beginning to think that's a possibility. I never would have entertained that idea, but it is an overwhelming sense that the guy is running the world. What a friend of mine, an acquaintance of mine, who was a former NSA analyst, an expert on radical Islam at the Pentagon, said, he says, think of it as a self-assembling oligarchy. I immediately went to a murmuration of starlings. You look at these starlings and these fantastic patterns. No one starlings organizing that.
Starting point is 01:41:00 They all just somehow connect with each other and do these great patterns. And how big is it? I don't know. But I'm beginning to suspect it's way bigger than we thought. I'm with you. I'm with you. Did you see the Stanley Kubrick stuff as well too? Remind me.
Starting point is 01:41:23 Clockwork Orange. I mean, that's stuff. Clockwork Orange is one of him. There's always the theory that he was behind the moon landing, but the one that I'm specifically referring to was the last film, which was eyes wide shot. It reminded me with the eye. Oh,
Starting point is 01:41:33 yeah, yeah, yeah, yeah, yeah. And you know, remember where they filmed it? No, actually don't know where they filmed it. They filmed it in a castle in Europe owned by the Rothschilds. Of course they fucking did.
Starting point is 01:41:45 Right. Of course they did. So the... Supposedly he had total, total editorial rights. He wanted him. And he created it. And then he died,
Starting point is 01:41:55 what, three weeks later? Yes, that basically his cut never saw the day of light. They had to, now they'll say that he died and so that he finished the film for him. But the going theory is there was also a thread in that movie and narrative. There was missing overdubs
Starting point is 01:42:08 that there was a narrative of pedophilia in that movie as well too. And at the very end of the movie, you actually see Tom Cruise and Nicole Kidman. There's two gentlemen that kept popping up in the background throughout the film. At the very end of the movie, you see them hand over their daughter
Starting point is 01:42:21 to the two men in the background, two men in the background take her daughter away. is that they gave them to the cult. And there was reports that Kuberk was sort of arguing basically with the studio over, like the direction of the control, that there was this thread in the movie as well, too. And then he just so happened to die shortly thereafter. And they put out a cut that was not necessarily his. They said it wasn't finished, but I've heard at least theories that not necessarily the case.
Starting point is 01:42:42 And then, of course, Tom Cruise is right up to his ass in Scientology. Yep. Which is way, way. I thought Scientology would just like, you know, sort of, you know, Jimmy Swagger. grift story. It's way creepier, way weirder. They're much more dangerous. Much more powerful. I don't know where it comes from.
Starting point is 01:43:03 The power. They actually got the IRS to back down. So here's what would happen. You try to leave Scientology. There's a documentary on it. Some famous Hollywood actors talked about having to get out of the cult. Yeah. And they said, you can't imagine. So the Scientologists would
Starting point is 01:43:21 buy the house across the street and four Scientologists would live in it and their entire job description I'm getting a call from Liam Cosgrove you gotta be kidding me I'll call him back getting uh see I can't remember where the hell we were we're talking about Kubrick in the movies and it led us to
Starting point is 01:43:44 and so so eyes wide shot is a completely oh and here's one for you Roman Polansky Sharon Tate's husband she gets whacked by Charlie Manson, who was, by the way, in Laurel Canyon. And Roman Polansky made Rosemary's Baby. And Rosemary's Baby was so creepy for me because I dropped acid and went and saw it.
Starting point is 01:44:12 That's not a good idea, sir. That is a terrible idea. I'm sitting there watching this going, holy moly, I think I'm in a satanic cult myself here. You know, yeah. And I actually had to get up to take a whiz or something. and I was with another kid and it was so tense and I walked up behind him
Starting point is 01:44:33 I go, booed in the theater and he goes, wow! Like this! And the entire theater, person, I laugh at the entire theater with bananas. Yeah, I went time while on acid, a friend of mine had been arrested. One of the guys who was straight driving
Starting point is 01:44:54 And the rest was, I was fried. I'm talking fried tripping. And we went to the cop station to visit our friend. And I'm just, I'm just, go, what are we doing here? And, you know, I'm thinking the cops must know we're high. And, you know, in retrospect, I realize, yes, they've seen a few high people go through the cop station. I was something like 14 or 15 or something. It was really.
Starting point is 01:45:23 Oh, Jesus. And that was the birth of your love for chemistry. Now it all makes sense. Yeah, exactly, exactly. Yeah. So Rosemary's Baby, there's another weird one. Yep. Which I think is...
Starting point is 01:45:35 And of course, I call it fictionalizing reality. Hollywood's job is to take something that's real and make it fictional. Born identity is a perfect example. Yeah. Right. So that when someone tells you about it or you hear about it, you go, oh, yeah, that's just born identity. So your mind immediately anchors on fiction rather than reality.
Starting point is 01:45:56 Yep. And so on the one hand, it's showing you exactly what's happening. On the other hand, on the other hand, you don't take it seriously. It sterilizes it. And born identity, Rosemary's Baby, eyes wide shut. And there's a few others that all that really needfully fit into that idea. And the CIA has some like a half a billion dollar year budget for Hollywood. I was going to say, yeah, 100%.
Starting point is 01:46:23 The military definitely pays for any pro-propaganda and will give additional funding to Hollywood. As does China. As does China. As does China. You see a movie with China looking favorably in it. That was China sponsored. I'm not surprised. Right.
Starting point is 01:46:40 They have a reason to. I was going to say, also, I remember, I forget the actresses' name, but from Homeland, that TV series, was getting money from the CIA, and they were also meeting with the CIA to get direction and input. And she spilled it on, like, a talk. show. Oh, I think I saw that. Yeah. And she, she spilled her. She said something in the talk show that was like, oh, you shouldn't have said that. I can't remember quite. Well, what did you remember what she said? It was something along the lines of like basically getting talking points and like, okay, but how should we frame this or how are that by how are we supposed to respond to this in like the coming seasons? It was basically getting like narrative direction from the CIA. That the CIA was directly putting information to put in the show to include. So here's a guy I'm struggling with. it. There's a guy who seems to be a, there's several CIA sources, CIA FBI type sources. So you go
Starting point is 01:47:30 way back, you get a guy like Ted Gunderson. And Ted Gunderson, I probably listened to do 50 hours of Gunderson talks. And he seems legit. He was actually in the shortlist to run the FBI. And he's called out so many of these stories. Then you have this guy, Bustamante, long curly black hair tied back. One day he went and said, I'll answer any questions you want. I remember him, yeah. And he, online, and I went through him all just to see. And there was some, you don't know if he's lying his ass off because I don't think they're sent the thing as an ex-CIA guy, right? He's just been reassigned. But at one point, someone asked about Area 51. And he said, that's to distract you from Area 50 and 52. And then he writes, I'm not joking.
Starting point is 01:48:22 And he gave some really, really funny answers that you go, he's telling us something in that answer. The other one, though, that's got me baffled. I don't know why I'm distrustful because he seems legit. But there's something that doesn't make sense. That's just karaoke. I don't know that one. John Carriacu did jail time. Doesn't mean he's not legit CIA because the whole Watergate thing.
Starting point is 01:48:48 The Watergate burglars did jail time and they were all part of, they were all part of it. of something. So that was just an assignment. You're going to do this and you're going to do jail time and we'll pay you. You're one of us. Including deep throat was deep stay and Woodward
Starting point is 01:49:08 was never a reporter. He was naval intelligence. Yeah, I'm pretty sure Watergate was like his first story too. It's like what a weird coincidence. Yeah, Watergate was his first story. And say, oh, yeah, you kind of got lucky there, didn't you? They didn't exactly put you on the fashion beat that day, did they?
Starting point is 01:49:24 So Kiroaku for some reason part of it he's got this mild mannered quality and something doesn't work for me and I don't know what it is and I feel bad
Starting point is 01:49:39 because I feel like he's trying to help me but my brain is just not accepting it. It's not processing it as good information. It seems kind of of trite. He doesn't ever say anything like a
Starting point is 01:49:56 whoa, you know. It's like the AI Uncanny Valley, right? Which is very prominent. We're still getting better even in animation. That there's so much going on in like the lower parts of your brain. We have threatened predator detectors. And you'll get this. It could be like one of these situations where you're talking to somebody.
Starting point is 01:50:14 It goes back to like flat, no personality. The eyes there's something not quite right. That your conscious mind has no idea, but your subconscious mind is telling you like, this is a predator. Be careful. This is not real. This is pretending to be a human. This is not, this does not line up with my model of a human in my mind.
Starting point is 01:50:29 There's another problem I'm having with AI, by the way, besides the fact, the art is soul-free at this point, right? Agreed. AI art is, was cute at first and then it got old really quickly. I must admit there are some AI videos that are still hysterical because they're still funny. Great comedy. Yep.
Starting point is 01:50:46 But I will read articles. I will open up an article that I think. I should enjoy and it should be interesting. And it can't hold my attention. And my suspicion is that my subconscious mind is picking up on the lack of humanity. And that what the AI is missing is this sense of a human touch where the person's writing about, ostensibly a person is writing about a topic, but I'm not picking up any human in it.
Starting point is 01:51:16 and and and and and and it can't it doesn't hold my attention i'm suffering i think i think um zero hedge has got way too many of those now and it's having trouble keeping my attention i hate to say it because i'm a big fan of zero hedge but we look for that human connection it helps us validate that it as well too it's the like it's the imperfections in art and people that also give it the character and color the things that we're looking for it i agree with you in terms of the AI articles there's no soul there. It's too polished. It reminds me of a politician speak.
Starting point is 01:51:51 Like when a politician's doing a speech, we don't believe them. We know they're completely full of shit because that's not how people talk. Right. So there's this guy, Chase Hughes, Chase Hughes. He's like sort of an expert on reading human behavior, kind of behaviorist. And he says, you know, if you want to know if someone's authentic. He says, just ask him, are you authentic? And he says, the people who are not will say, of course.
Starting point is 01:52:24 And the people who are will sit there and they'll go, hmm. Yeah, you know, yeah, I think so. Because they're sort of legitimate self-doubts would make them say, well, that's a deeper question. That's kind of a tough question. Whereas the not authentic one, just say, yeah, sure. I read about sociopathie, the number one most charge. The number one trait of a sociopath is charming. Bill Clinton.
Starting point is 01:52:51 Oh, my God. Oh, yeah. Class. Hillary is a poorly adapted sociopath. Yeah. Because she's too dislikable. Bill was likable as hell, but totally lack conscious. I think that Clinton's formed an alliance.
Starting point is 01:53:11 I don't think they got married per se. Oh, yeah. I was on a, I met this totally. Tony Schaffer guy, the Army intelligence guy, big swinging dick. I mean, this guy is non-trivial in Army intelligence. He got booted because he was too outspoken. But I asked him, I said, I said, Tony, I'm interested in the role of pedophilia trafficking on geopolitics.
Starting point is 01:53:36 Now, this subject, I wouldn't care, but I was trying to understand why political leaders were doing what they were doing. And I finally lashed onto this idea that maybe this is the, the, maybe this is the gravitational force that I'm detecting and that not able to identify in that. So I said, so I'm interested in trafficking and pedophilia. It's influence on geopolitics. He starts talking about Epstein. I probably should have let him go on for a while, but I kind of interrupted and said, we kind of have a beat on Epstein. I'm interested in the darker stuff.
Starting point is 01:54:11 And I said, let me ask you a simple question. In some sense, I was testing, because I knew the answer. I said, does the Clinton Foundation traffic children? And he said, oh, absolutely. Now, I can show you pictures of Tony with Rumsfeld and these guys. The guy's big, big, big in this world. And he said, oh, absolutely. And most people's heads would just detonate, like in the movie, scanners, right?
Starting point is 01:54:39 It would just blow up. And, and, but yeah, that's what Haiti was all about. The Clintons were always going to Haiti. It was all about trafficking. So, and that's, by the way, all the orphans in Ukraine, where do you think they end up? Yeah. I get traffic. They're worth, Ted Gunderson and 91 said a blonde-haired, blue-eyed kid, I'll bring you 50K on the open market.
Starting point is 01:55:04 Fuck. That's $91. Yeah. Inflation adjusts that, right? which means they're not going to trailer parks and being handed over to guys with vans with free candy written on the side. They're going to people of wealth and power.
Starting point is 01:55:19 Did you ever come to a conclusion of why that is like the gravitational force between them? Well, again, you corrupt them first and then you give them power. So you find out who's corruptible and who's not. I think some people just flat out get told you're either going to do this and join our club or you're not.
Starting point is 01:55:42 Like skull and bones, suppose they lay a coffin and jerk off. You know, okay, I'll do it. You know, that sort of thing. Sociopath is totally non-statistically located in positions of power. Yep. And the reason is multiple. But one of which is that if you don't have to play by moral rules, you can excel. Because things that you and I might not consider doing, they say, yeah, sure, I'll do that.
Starting point is 01:56:12 Yeah. It's hard to imagine why, for example, one of the sources of children in the satanic networks are the parents. Yeah, that's like that part just fucking. It's so abiological. You study biology. It's just, you go, wearing the evolutionary ladder to handing your kids over to a satanic cult come in, right? Yeah. And it may be that that's one of those odd evolutionary things where you say, by virtue of this association,
Starting point is 01:56:43 you give up the first child, but then you are part of the club that protects the others or something like that. It could be, we're going to throw one away to, right? There could be a group selection pressure or something on that.
Starting point is 01:56:58 I was a genetics major I was a fan of evolution. So if this is the real world, you know, there's a bunch of guys out there who all claim to, seen satanic creatures. I was on the phone with a guy who's a famous economic podcaster,
Starting point is 01:57:21 Who Shall We May Name With, I haven't listened to him in years. He's one of the early ones, way, way, way back. And the conversation just went on and, you know, the guard drops, right? And he's talking about staring at this guy's with bright red lizard eyes and shit, nine foot zombies or something like that. And it was only fairly recently, at first of that, he's just nuts. I mean, he's just us. But I think he might have been trafficked.
Starting point is 01:57:47 And one of the things they do is they drug the shit out of you. And I think where the satanic shit comes in is this is part of the brainwashing. It's part of the breaking down who you are. So there's this relay where the CIA, the satanic part is kind of a feeder troth for the CIA. And so they can tap into the satanic. They can maybe tap into the, you know, Scientology. Who knows, right? Yeah.
Starting point is 01:58:19 So these are like farm clubs for the CIA. I was saying it's the lower league to call them up. Right. And and and and and and but here's the funny thing is one of the theories is that you're drugged out of your mind. They jammed you full of so much high grade acid. You don't know which way's up. Yeah.
Starting point is 01:58:38 And they make you watch Rosemary's baby first. And then, and then, and then, maybe I'm in traffic. That explains a lot now. And then, so what happens is, is, you know, there's, there's drugs involved in religions often, right? Right. The mescaline and stuff like that. And by the way, you want to get someone to join your religion. You whack them full of peyote.
Starting point is 01:59:04 And all of a sudden, the guy goes through this religious experience and says, holy shit, your God is greater than my God. Yeah. Right. And so I think they might actually, you know, sort of present satanic figures to the, to the people who are whacked out of their minds. We even go back to the mass and eyes wide shut, right? That was my immediate thought. It's like, if I'm high on acid and I walk into a room full of people in mass, I'm going to be just losing my mind. That's right.
Starting point is 01:59:32 And so these guys who said, I have seen this, might not realize that, yes, they did. Yeah. But it was part of a trafficking scheme. And the question is, were they throwaways? Like when you, there's a, there's a, there's a documentary called The Mind of a Dog. And it's about how you train dogs to be working dogs. You breed them. Same as the trafficking.
Starting point is 01:59:58 And then you, you train them and some percentage of them just flunk out. Yeah, they don't make the cut. Right. Maybe some of these people are flunkouts. And then, and then the different. dogs have different personalities. So they'll take all the dogs that make it and they'll say, okay, let's give this blob of a lab to the soldier with PTSD. Let's give this really smart, you know, such and such to the blind lady, you know, that sort of thing. And so they pair them up
Starting point is 02:00:27 with the personalities of the potential owners. And I think that's what they're doing with humans. It's artificial selection, right? We've been practicing these farming, texting and raising techniques for years. it would be naive to think that no one has ever tried to apply them to people. It's basically just eugenics. It's an old story. What a weird world. I know so many smart, so many educated people who've gone down these rabbit holes
Starting point is 02:00:55 and come out of it damaged goods, you know, sort of like, I can't believe how many people I've had this chat with who are not shocked, who are totally on board, who've already read it all. how did we get here?
Starting point is 02:01:15 I don't, I don't know. I wonder at times if they've overplayed their hand. And I'm curious your thoughts. And we've been going for like two hours. I really appreciate that. We can wrap up to make some calls as well, too. I'll call Liam back. Call Liam Beck.
Starting point is 02:01:28 It's, I wonder if this is sustainable. In the example that I look at is like the fall of the Soviet Union, in particular this idea of like a preference cascade, like how far can they push us? And you talk, like if you talked, like, you'll take a class example. Like, did Epstein kill him?
Starting point is 02:01:43 And I think the majority of people at this point are like, no, obviously not, right? We all know that. We all know there's shit going on to different extents. We don't necessarily speak about it publicly. I wonder, like, I feel like there will be, it'll look like it comes all of a sudden, but basically everyone privately thinks this is all bullshit and is well aware of a lot of it. And there's some sort of event or trigger where it becomes okay to talk about it publicly. And it looks like everyone just changed their mind, but realistically, it's everyone just voicing what
Starting point is 02:02:07 they already thought they were afraid to speak up before. Yeah, there's a name for that. Preference Cascade. Yeah, but the common knowledge, the phrase common knowledge is used. There's the guy I made the documentaries about the Soviet Union. He called the hyper-normalization. I can't remember his name because I'm 70 years old. Names don't stick anymore.
Starting point is 02:02:32 And you just get so used to it where you just say, look, I don't have any delusions. They lie to us. We know they lie to us. They know we know they lie to us. You know. So why? right and so there is certainly is a a component of the story is to just get us numb to just get us to the point where we say fuck it what's for an inner yeah learned helplessness
Starting point is 02:02:56 yes learned helplessness and i guess what the role that you and i are playing here is to try to at least so one i read comments and podcasts because sometimes there's information information. They're all like someone will say, oh, that word you are groping for is this, right? So you go, oh, right, I forgot. Sometimes someone will link say, you ought to read this, you ought to read this book, you know, that sort of thing. I did an interview with Tucker, which was quite a high watermark for me right up until
Starting point is 02:03:32 it was very good. Mark Levin started attacking me. It was fun. And Tucker and I talked about satanic cults afterwards, and he was, he made you and I look like Pikers. Really? Yes, really. And he said, and I know them because he knows these people. And I, you know, a couple of my, I told this to a couple of my colleagues, you know, they're laughing. They go, oh, is that when he was off his meds? And I didn't say anything. I was a little irritated, but I didn't say anything because I'm thinking, so you think you understand the
Starting point is 02:04:09 world better than Tucker Carlson does? Because I'm sitting there breakfast with him where he's trying to sort of figure out who I am, you know, as kind of a pregame prep. And he's getting text messages from senators. He's getting text messages from Tulsi Gabbard. He, by the way, said Tulsi was shocked by what she sees. I said, shocked relative to what she thought she knew? And he said, yes. So you got to figure she had a pretty good idea what she was walking into.
Starting point is 02:04:43 And she shocked. But we talked about satanic calls for about an hour. And his staff was sitting there and it was pretty clear that they were not going to get out of their chairs and go do something else for that hour. I gave a talk at an investment conference on trafficking. And it was a kind of a workshop where it's breakout sessions and you get a room. And I said, how many people are going to be there? And they told me him. And I said, maybe you get 20, 25.
Starting point is 02:05:13 And I got like 60. and they'd set up 45 minutes to do it. We went for three hours. Now, what was really interesting is one of the reasons it went so far because there were at least a half a dozen people sitting in that audience who could kick it back at me in a very serious way. So the others said they said they might be tempted to say, well, this guy's nuts.
Starting point is 02:05:36 Then all of a sudden some guy would say, well, this is the Qazarian, blah, blah, blah, which I know very little about. I just know by name. But so it's clear that the people who were neophytes to the debate were probably sitting there astonished that there were a half a dozen guys talking serious bad shit crazy stuff and all speaking the same language and all talking about the same issues and all knowing what they're talking about. And an investment conference of all things too, right? at an investment conference. And I told the guy runs that, I said, well, you know, we went for three hours.
Starting point is 02:06:15 And he said, you know, I can't complain. You know, they pay to be entertained. And so it was titled correctly. They didn't have to go. It was a totally optional part. I'd given our talks there. I serve on a, and then every fall I go to this, I serve out a panel called boom bust panel. And the other guys on the panel are without fail, famous people and me.
Starting point is 02:06:44 And it's really funny. And I go toe to toe with them. I can hold my own against them. And at one point, Jim Bianco sit there and he's saying that AI is not in the bubble. And then he described it, blah, blah, blah. And at one point in point, I pointed to him, I said, Jim, basically what you just said, how is that not a bubble? I mean, it just, you know, so, yeah, I can, I can hold my own.
Starting point is 02:07:07 And that kind of, one day I gave a talk on a mathematical flaw in the Roth IRA. What's that? Well, so. That it basically makes no difference? It's actually worse than that. Oh, okay. Go on. So I was trying to find a way to hide, get my money out of the system in 06 because I saw
Starting point is 02:07:30 07, 08, 09 coming. And I was thinking there's some way to hide and get it out of the system because I thought the banks were all going to go. So I started looking, is there a way to sneak? money out through a Roth in some way, right? I was looking for some channel that I didn't understand. So I, here it is without even using graphics. So if you turn on the TV, Susie Arvon is telling you, you should open an IRA, blah, blah, blah, you know, some talk radio, you should open an IRA. They, without fail, say Roth IRA, right? They don't even mention the regular IRA.
Starting point is 02:08:00 So here's step one of understanding the problem. If you take a thousand bucks, the regular IRA, you put it in the IRA, A $1,000,000, 10-fold gain over the lifetime of your investment, just arbitrarily chosen. Let's arbitrarily assume it gets taxed on the way out the back end at 20%. You've now got $8,000. Right. Now take a Roth IRA. You pay tax up front. Let's arbitrarily assume it's 20%.
Starting point is 02:08:31 You've now got $800. Tenfold gain. You've got $8,000 comes out without taxation. It's $8,000. So that's the first problem. There's no mystical after-tax compounding advantage. There's none whatsoever. The only question is, which IRA do you pay more taxes on?
Starting point is 02:08:50 Which one? An I arbitrar and let them be identical, and it came out identical. So now, here's what's going on. I want to have invented Mr. 5% guy. 5% guy is 5%tile. At the time, 156,000 a year, 1.1 million in assets. which includes real estate, it turns out, according to Stephen Roach. He said your number's too high because it includes real estate.
Starting point is 02:09:15 But I'm going to take it at $1.1 million. And if you use standard portfolio theory, when you go to retire, you can take it out it. You can take about $48,000 a year. That guy's fucked. He's five percentile earnings, five percentile savings, but he can only take out $48,000 retirement. He doesn't know how to live on that, right?
Starting point is 02:09:36 So I started looking at that. And then I realized with respect to the Roth, when you pay the Roth, you're at $156,000 a year. What you're doing is you're saying, I'm going to take $1,000. So I'm going to take $155, pay taxes out of it, whatever. But that $1,000, I'm going to pay taxes out and put it in the Roth.
Starting point is 02:09:59 You are in the 37% tax bracket. Yeah, you're up there in tax bracket. You're paying 37%. Right. And then it's, and then, so now you're going to be down to like $6, $630 and then 10fold, you know the drill. The regular IRA, you don't pay taxes, 10fold, it's worth 10,000, you got to pay taxes. But now what's your tax? What's the tax on that? You retire. It starts at zero, but it starts at zero. So you're, you're, your, the money's spread over the tax break from zero to five. And then you go all the way up. And if you take out $156,000, just like you earned, you're at the marginal tax rate might be 37%.
Starting point is 02:10:44 But the effective tax rate of the money you take out is like 20, 22, 23. And so your tax rate will be lower by definition. Now, people say, well, what about if tax rates go up in the Senate? I go, but you don't know. Yeah, it's an arbitrage of the way. So you can throw it, Hail Mary and try to guess. But for this model, if you just say, look, the rules aren't going to change. And if you want to bet the rules are going to change, okay, have a ball.
Starting point is 02:11:08 That's a different debate. But the point is, now here's the nightmare scenario. I don't know if you remember this, but the Roth IRA was put into place at exactly the time that Clinton was trying to balance the budget. And what they said was, you can roll your regular IRA over to a Roth, but you only have two years to do it. It's one of those, buy it now, the deal's gone soon, right? It's a pitch. Now, what did that do? It generated income for the feds.
Starting point is 02:11:41 You took this big lot of fucking money that you saved. And you're voluntarily paying 37% on all of it. Whereas if you had left it in the regular IRA and you took it out, it would come out at the effective tax rate spread over the tax brackets. Hence, they balance the budget. It's funny. It's like teaching compounding interest in finance and school isn't there on purpose that most people would have just gone ahead and done that or a lot of people would have gone ahead and done that.
Starting point is 02:12:12 Right. Well, Grantham's book, which I really enjoy, I disagree with one part of it vehemently, but 98% I was fine with. He talks about the absurdity that we can compound GDP or earnings or whatever at the rates people assume. He does. I had done an example. in which I said, imagine at the time of Christ, what's the value of the world? And I said, you know, let's real estate.
Starting point is 02:12:39 Let's give it a billion, right? There's, there's houses, there's real estate. There's the occasional structure. Let's give it a billion, which is probably conservative, in modern dollars. And then if you compound it, if you say, what is the book value of the world now? And what compounding rate gets you there? And the answer is well under 1%. So what I realize is we create wealth at pretty much exactly the same rate that we consume it or destroy it.
Starting point is 02:13:10 Yep. Because it would build up exponentially. And it does one to two percent. Now, Grantham does it differently. He takes the Egyptian Empire. It says lasted 3,000 years. He said, imagine the entire wealth of the Egyptian Empire. At the beginning of the empire was a cubic meter of wealth.
Starting point is 02:13:28 So he just takes a volume measurement. It's a cubic meter, which is conservative, right? There was more. And he says, he had a lot of treasure. Now, he puts a higher compounding rate. He said, let's say they compound a 4.5% which some people would think is reasonable. It's not. But some people would.
Starting point is 02:13:45 40% 3,000 years. It's something like Phil, something like 100 solar systems. Yeah. And so people do not understand that this compounding of wealth that we're observing is not a sustainable compounding. It is just this brief slice in history. And they're also lying their asses off. Let's start with that.
Starting point is 02:14:09 They're lying their asses off. I'm reminded of the, I think Jeff Booth uses this example all the time, but it's if you're folding over a piece of paper, because people just can't visualize exponential rate. I think it's 37 folds to reach the distance of the sun. Right. Right. But people cannot grok how that possibly happens.
Starting point is 02:14:28 Yeah, I did a podcast with Jeff. He's one of the many huddlers who've tried to. to convert me to the dark side. I'll bring you over by necessity at some point in time. I won't convince you off gold or anything else. Well, I'll tell you what I'm watching. I'm watching. I am one of the most hodler-friendly non-no-coiners.
Starting point is 02:14:46 Oh, yeah. I totally sympathetic to everything you guys stand for. I see risks. And the guys I think are smart have no trouble sort of saying, yes, I agree that is a risk. I do run into hodlers who are just cluelessly euphoric. And I go, no, you're up against the state. So here's the deal. If Bitcoin really is going to take over the world
Starting point is 02:15:07 be the currency of the real, then we are going to replace the Rothschilds and the Rockefellers with Max and Stacey. Right? And that's not going to happen. And that's not going to happen. Right? It's just not.
Starting point is 02:15:21 I guarantee you, they'll whack them before they get to that stage. It's not going to happen. So something's going to change. Doesn't mean they're not going to end up wealthy. Doesn't mean it's not going to work great. Doesn't mean it's not. But put. It's not, it's, it.
Starting point is 02:15:34 And, and the Bitcoin community was profoundly libertarian. Yeah. And now they're all embracing the fact that Larry Fink's on their team. And I go, do you understand that Larry Fink being on your team is about the worst fucking nightmare you can imagine? And Howard Lutnik. Right? This is not a libertarian moment. So there's a lot of risk.
Starting point is 02:15:54 I was going to say, there's two things there. One that and I had, who's I talking to about this? It was Jocamo, Zuko, because I shared the sentiment in terms of like losing the cypherpunk and libertarian values. But it gave me a nice way to think about it. He was basically saying that like, you know, historically it would have been like you and five other guys and two of them were cypherpunks or three of them were cypherpunks, right? So as a percentage of the full group, it was a much larger representation.
Starting point is 02:16:16 Now that group was ballooned up to 100, but you've got 10 guys who are cypherpunks. So we have more in number, but we're less as in terms of the overall people that are involved. And funny enough, that's been one of the things that I've reflected on regarding the Epstein files and looking that he was trying to get his fans around it. Yeah. Yeah. Does he have control? No.
Starting point is 02:16:33 Is he Satoshi? No. Did they try? Absolutely. And do they probably have some influence? And like, I was talking to Simon Dixon about this, which I think you'd love to chat with him as well. They've been attacking Bitcoin. He has my attention.
Starting point is 02:16:43 Yeah. Simon Dixon has my attention. If you like, I would love to facilitate a conversation. He very much is of the view that Bitcoin has been under attack for a very long time to keep trying different tactics. And it makes sense. And kind of my realization to your point about like, are the Rothschild's going to let Max and stay because he take over the world. They're not going to let them. I would make the case that it's possible that we do,
Starting point is 02:17:01 win, but it's not going to be easy. And my big, my big mistake was being naive, because I thought we were kind of the, um, the high X-X-Ly roundabout way. I thought we were going on notice for a very long time. And then what I see from the X-teen documents, which again, you had people like Brock Pierce, who has allegations that he settled out of court, who comes as a child star from Hollywood, was getting involved in putting bad information and some poison pills. We're talking about the same same guy who was aliphant's his boyfriend? I believe, uh, I'm not sure. I'd have to double check that. Comet pizza, right? No, no, no. I don't think he was in Common Pizza. He may have been bad. I'm not sure. He was a child star that got into Bitcoin in around 2011 and definitely tried to push the idea that Craig Wright was Satoshi, which seems like it was another sigh up there to try and dissuade or to try and basically take shots of the network or have control over it. He vehemently tried to convince. That's a different guy. That's a different guy. That's a different guy. And so I know this guy too, but yeah. We've seen that they've realized it's either potential as a tool or a potential threat to their existing financial network since 2011.
Starting point is 02:18:01 and they were attempting to get control over it. I don't think that they have. It's almost like from the decentralized nature of getting the miners, the node runners, the operators, everything. It becomes too difficult to take a hydro with 10,000 or 100,000 heads. But my big mistake was going, oh, no, no, I thought we would maybe be able to slip in under the radar
Starting point is 02:18:16 and they'd gone so long going unnoticed. And like, that's not the case at all. They've been trying to at least have influence and have been actively attacking it or trying to get control over it since 2011. So to Max and Stacey taking over for the Rothschilds and the Rockefellers, well, I don't think they're going to let it go. easy and we'll see how it necessarily plays out. But even from like my standpoint, I came to Bitcoin from an ANCamp position. So I was an ANCamp libertarian like Mises Rothbard, that whole
Starting point is 02:18:42 rabbit hole beforehand. And so for me, I was very much in the gold camp, but from like a nihilistic perspective that like gold can ever win, it'll become centralized. We're all kind of screwed. So fuck it. And then Bitcoin was kind of my like, oh, we have a tool here that might kind of win. Like even for yourself, it's like, I'm more interested in fellow travers than even like, Like, if you don't buy Bitcoin, I don't give a shit. I would hope, like, I'm not convincing people at any point in time. I'm just trying to get more people in my tribe identified hanging out, grouping together so that we can, whether it's gold bugs or libertarians or, you know, what you say? Like the autistic term mentor.
Starting point is 02:19:17 Yeah, exactly. I, more or less, I just want to get everybody on camp to deal with all the fucking horrors that we've been talking about that I think are a direct result of the existing fiat system. I don't give a shit if you want gold, silver, uranium, you want some basket or USD. Well, maybe USDA actually is a bit of an issue. But I'm just for taking down whatever the fuck that monster is. So Turley's book, which I mentioned earlier, he in the introductory paragraph said that whenever you have a major upheaval in currency, you really have serious violence.
Starting point is 02:19:50 It's not a casual transformation. So it'll get interesting. So what I would. will be watching. I don't have any intention of buying Bitcoin to get wealthy. Right.
Starting point is 02:20:08 I'm, I'm, I'm, and, you know, people say, well, you know,
Starting point is 02:20:12 you can transport anywhere, you know, if you have to leave the country and I go, I'm not leaving the fucking country. Yeah. I'm cool. Shit.
Starting point is 02:20:19 Nice house. Five dogs. I mean, it makes sense for some people. I was talking to Grant Williams, and he was sitting there with a bunch of hedge fund guys one day,
Starting point is 02:20:28 like eight of them at a tent. And he said, every single one of them has a bugout plan. I go, what's the bugout plan? How do they describe me? He said, get on the phone, make a call, drive to the airport, fly offshore, period. Everything gets triggered by one phone call. The whole thing gets rolling with one phone call. He said, that spooked him.
Starting point is 02:20:50 There's a guy named Rainwater, who was big early proponent of bugout plans. But so I what I will be what Bitcoin has never been through and I will be watching at least with fantastic fascination is Bitcoin has never been through a banking crisis. Yep. Bitcoin and when I say that the hoddlers, the green ones say, oh, we've been through our, you know, and I go, no, that's not what I'm talking about. I'm talking about a global liquidity crisis. I am talking about a big deflationary, squashy like a bug crisis. and how Bitcoin respond to that will be in the very least fascinating. No, I completely agree.
Starting point is 02:21:33 Now, what I've been watching and I've been talking with Marty, and I don't even have to say Marty's last name. I know exactly here you're talking about. That's like saying I was jamming with Prince the other day. And is how they come off the battle. field after that will be really interesting. And I think I will be watching it from the cheap seats, right? From up in the stands, out of the splash sum, I guess.
Starting point is 02:22:05 I could imagine owning Bitcoin at some point. I was going to, Bitcoin, when I wrote my annual write up this year, Bitcoin was rolling along pretty well. And I made passing reference to the fact that I was going to buy some hodler repellent, which was buy a small amount of Bitcoin so I could say, okay, own it. Now, would you please shut the fuck up? Yes.
Starting point is 02:22:28 I would say, if you want, because the other thing I do is actually like train people on how to use it, I will happily send you the gear and set you up. And you don't even have to buy any, but then if you ever want to, you're already ready to hold it. That generous offer has been made by every hodler on the planet. Just so you know.
Starting point is 02:22:43 I have to keep doing it. Marty's agreed to set it up right there in the middle of our podcast, you know. So I know who to turn to when I need to help. And then I, I think the great risk is that you guys just get, and you might do well en route. So let's say all of a sudden we go to a gold center and they say, we're going to confiscate your gold. They'll probably pay me good money for it. Right.
Starting point is 02:23:07 So the good news would be that if your Bitcoin, if what you've accrued is worth something before they squish you like about it. Yeah. The bad news is if they just crush you. But I think that's less likely. I think you're more likely to have benefited from being a bucked. an earlier entrant. And then at some point, I think it'll be absorbed into a digital world that you become. And people say, well, you know, they can't stop us.
Starting point is 02:23:33 I go, look, if they say Bitcoin's illegal, it's game over. Yeah, it's basically, you're right in the same way. Drugs and Epstein's perbs, but you can't go to the grocery store. You can't write. So if they decide to go at Bitcoin in a truly authoritarian way, but I think they're more likely to just find some way to swallow it into CBDC. I think they are, right? The ETFs, the treasury companies, I think they're just trying to get it basically in
Starting point is 02:24:00 your Klaus Schwab trading account and try to squash it as a currency. And again, I'm not rooting against Bitcoin. And one of the things I've gone way out of my way, because this year has not been your biggest friend, to not in any way can't call the hodler community because of Gold went down. I would want to hear from you guys either. Let's start with that. But in no way does this year being a bad year mean you're in any way wrong or right. It's just noise. It's just white noise. And so what, oh, what I was talking Marty about is the question of why is Bitcoin, why are Bitcoin and gold uncorrelated? Yeah, that split happened to cut
Starting point is 02:24:44 like what like six months ago or so. Why do you think that is? Because yeah, because Bitcoin took a dive and gold just kept going. And I'm trying to figure out because they seem like they're the same trade at some level. It's both. So for me, from my perspective, what I'm seeing is there's still a huge asymmetrical, I would say, it's like information asymmetry, right? So, and I've seen repeated fud over the last year to the point where I don't think it's accidental. I think someone is trying to push down the narrative, trying to create like basically get any
Starting point is 02:25:11 speculars, people who don't understand what they're holding to get out. We had the quantum fud, Tether was back on the table. it seems like I don't think necessarily even the proposed fork and the kind of spam wars battle within Bitcoin feels very much like divide and conquer to me. Like you have people that run the same team just at each other's quotes. Yeah, like fighting ice agents on the street, right? Exactly. So there feels like there's been a big disinformation campaign to basically push down from a narrative perspective. And it seems very effective.
Starting point is 02:25:39 Why, I have no idea what the motivation is. I just can see this kind of pattern playing out. I don't know if it's to fill their own bags because they just like Tomlowe. Long ago was chatting with him last week, puts it in that basically a threat to the payments network, the people that are involved in the payments processing that have the issue that want control over those rails. But I think it's largely come from, it's easy. Gold has the history and has the large group and it's an easy to understand. But if someone tells me like, oh, I heard Jeffrey Epstein controls Bitcoin, it's actually, it takes me a while to actually run through
Starting point is 02:26:06 why the fuck he doesn't, like how a decentralized network works. There's quite a lot that's, like, from Matt and O'Dell that stay humble stack sats. There takes a lot of humility to actually go like, Okay, understanding this in all the game three at play, it takes a while. It's not necessarily difficult. There's just a lot to chew through and a lot to think on. And most people, like we were talking, are basically distracted by the bullshit in their lives. They both have to work. The shootings are going on.
Starting point is 02:26:28 Everything fucking sucks. They don't have the time to die. They're not weird, monetary, obsessed people like me who have to be right about things. I keep reading stupid shit so I can argue with people in bars why communism is a terrible idea. And they just keep pushing and pushing and pushing. So I think it's largely just information, asymmetry, and sentiment. It still trades, like, I think if you take the S&P 500, equal weighting. It just trades like a stock. It's just still being traded like a tech stock,
Starting point is 02:26:50 like a speculation. And I don't know when the moment that actually gets grouped in more with the safe haven assets, more like gold or treasury, something along those lines happens. I think that's where it belongs, but it's not there yet and it's not traded like that yet. And in terms of things that I'm watching that are really important to me. So you're right. We haven't seen like a banking crisis, like a real liquidity crunch. And my guess is it nukes to zero like basically everything else, not zero, sorry. It nukes down correlation to one and bounces back really fucking hard. Kind of like what we saw during COVID. But the thing that I'm paying closest attention to is also near and dear to my heart is if you go back, man, I can go on this brand forever. If you go back to the trucker protest, they tried to
Starting point is 02:27:28 send $12 million through GoFundMe. That was stopped and seized and never made it there. They tried to send through GiveSend Go $13.1 million, if I'm not mistaken. It basically made it into the Canadian banking system and then was seized once it crossed over into the border. the only digital payments that made it to the truckers was Bitcoin. There's a 1.2 million that was raised. And Ben, who is the host of the channel, the other guy that I work with, that was his node and his setup. He thought he'd get like $5,000. They ended up getting $1.2 million.
Starting point is 02:27:55 And most of it made it to the truckers, not all of it. But they learned a lot of lessons from that. What happened to the people who were looking at prison time, the Coots 4 and things like Coots? So like Tamara Lynch? Yeah, Tamara Lynch. Samir Lynch. She was sent her and Matt were both sentenced to probation. So they were convicted and they were not serving jail time.
Starting point is 02:28:16 They're serving probation right now. But they got the shit kicked out of himself just having to fight to fight. Oh, absub, AXPA fucking Lutely, right? And there are people that in the Bitcoin space that have left the country and even left during that time to get the fuck out because it got really heated. Which is why the thing that I'm curious to see how it plays out now is the Alberta independence movement. And the reason being is that if they'd crack down on bank accounts for bound. Moncie Castles and street hockey and honking in Ottawa, I think this thing actually does have a lot of momentum. Even if it gets to being a referendum question, I foresee the same financial crackdown coming back up again.
Starting point is 02:28:48 So I'm really curious to see Bitcoin in that environment, not from the price appreciation or even like liquidity, but like can you exist outside the banking system if they try to crack down on you again? Right. Look at the price of gold just for fun right now. Put it up on your screen. Is it cheap or expensive? As soon as you see it, you'll see what I'm making you do it. Oh. What the fuck was that?
Starting point is 02:29:21 That got a monkey hammered. That's a professional wrestling move. For those who can't see it, Cole just got hammered for about 4% in about 15 seconds. Hang on, I got to pull it up. I share a screen. Yeah, pull it up. I just happened to look and, you know, and it's like, oh, dearie. because I was going to ask you if gold was cheap right now
Starting point is 02:29:40 at one point in the conversation see that to me it's cheaper than when we started talking what were we sitting at because it was basically just trading horizontally at what is that like just over 5,000 no it's five my eyesight sucks 564 so I got to get on Twitter and ask someone what happened to gold because someone will know someone will say oh yeah Powell came out and said X or Y or whatever
Starting point is 02:30:01 that's the other thing about these markets like a lot of these moves look completely just like momentum trading going out of whack, bots going crazy, and just like randomly, like the Bitcoin market has not looked like, it sounds so stupid, like natural to me.
Starting point is 02:30:16 Like that moving gold looks like, what the fuck is that bullshit? It's gold. It's like what? How many trillion dollar market cap out? That's right at the close of the U.S. market. So someone had to close out of position.
Starting point is 02:30:28 And presumably, oh, it's Thursday. It might be options expiration day. Options expiry? Yeah. I think we're a week early. I don't pay a,
Starting point is 02:30:36 I don't care about, short-term stuff. Yeah, yeah. So, you know, I was buying gold in a closed-end fund in 99 at 270 an ounce, but it was 28% below nav. So it was around 220 and outs. So, you know, moves like this are kind of within the error bar of who cares for me. I'd rather do that going up, not down.
Starting point is 02:30:57 I mean, I do care about that. I'm guessing that silver did the same thing, but if it didn't, then what it tells me is that, no, see, silver. Silver did not do that. Silver did it, but it did it about 45 minutes earlier. That's, just look at S.O.B. Yeah, yeah. So Silver led it, but it was not as steep.
Starting point is 02:31:19 So this is probably some highly correlated movements going out of the market. What's troubling, what should bother people? So in 99, 2000, I could be remembering Daytona, but my old fraternity brother, who I was really tight with, founded Goldman Software Group. He founded their software group. Talked about ground level. Yeah.
Starting point is 02:31:42 Guy's name was Rick Sherwin. And he, I think it was in 2000, made a tough call on Microsoft. And Microsoft dumped, and the market dumped something like 500 points on his Microsoft call. Oh. And then by the end of the day, they had gotten back to even. and I said these markets are broken now. These markets are broken. So the way I like to describe is the markets are acting like a teenager driving on black ice.
Starting point is 02:32:17 Yeah. And so it appears to me is that we're going to lose it on a curve somewhere along the way. And then we're going to get a cascading failure. Well, 10% on silver in a day, like after we just had that massive drop feels like, Oh, I didn't even notice the magnitude of silver. Silver is 11%. Yeah. Yeah, yeah.
Starting point is 02:32:37 So silver wasn't a prop, but it's a deep dump. That's it. That's extraordinary. Silver I was buying silver eagles for four bucks a piece. Fucking Tom Luongo told me the same damn thing. I'm like, you son of a bitch, they're buying it at 85. What the fuck do I care? Well, so one time I was crossing at Chris Martin said, and we're laughing because he says, yeah, I have people say to me, well, it was easy to buy gold back then because it was so cheap.
Starting point is 02:33:02 And I think we laugh. I go, it was easy. It was so cheap because there were about five of us who wanted the shit. Yeah. I mean, no one, you couldn't give it away. You couldn't find anyone who at one time, one time, one of the friend of mine, he sold a small startup. He was a VP of a startup.
Starting point is 02:33:20 And he made a ton of fucking money. He sold it to Metler. And it was right at 2000, right at the rollover. And I said, I said, Alan, I said, do not dump this money into the market. Do not, do not just shove this. You're going to get crushed. And he said his partner, who was the CEO, the company who sold, he said, yeah, he wants to buy Cisco and this. I said, don't dump it into the market. So about a year and a half later, the dot com busted come. And he sits and he says, he says, you called it. He says, you called it to a T. How did you know?
Starting point is 02:33:55 And I said, because this has played out many times. The script has already been written. And then he tries to get me to, he tries to get me to tell them what I'm doing. And I finally said, I finally said, well, I bought a bunch of gold. Yeah. And he goes, gold? Right. And I go, yeah, gold. You know, I said it doesn't seem like the logical thing to do, but I know some smart guys who also agree, you know. And I remember, I was on a podcast with the Coral and Economics Report. I don't know how they found me because I wasn't even doing podcasts at that point. I really was not. I don't know how they located me, but Gordon Brown had been dumping British gold into the
Starting point is 02:34:40 system to keep the price down, best we can tell. Yeah, Brown's bottom. And I was on this podcast, and I said to Coralyn, I said, something has changed in the gold market. And he said, well, what do you mean? I said, well, so the price of gold started to get some legs. And Gordon Brown announced that they were going to sell more gold. and instead of driving the price down, the price went up.
Starting point is 02:35:05 And then just a few weeks ago, he sold the gold, and instead of driving the price down, the price went up. There's something different. And that was really the bottom right there. That was the brown bottom, as I like to call it. And I said, it's not behaving the same. I called the platinum. I'm not a trader.
Starting point is 02:35:22 I don't have any trader genes in me because the time scales were just dead wrong for me. So I averaged in the gold over four years. Yeah. But I realize in the modern market, you get a good idea. It's not going to wait four years. No, you got to go quick. So I've been watching platinum for several years, and it flatline. Flat as a pancake in May.
Starting point is 02:35:43 And I've got tweets showing what would make this market move. I don't understand. And I started asking technical guys, what price would get you to get serious about this chart? Because platinum had been flatlighted. I mean, like you could land an airplane out of it for 10 years. years. And then all of a sudden, I think it was May, PPLT, PPLT is the thing. PPLT. I say, look at platinum. It dumps 6% as well. Yeah, what a shock. Go to PPLT and expand it to 10 years. Oh, Jesus. My portfolio is going to be gruesome today. Go to about 10 year mark. Go to the 10 year mark.
Starting point is 02:36:21 Okay. Let me find it here. No, 10 year here. I'll pull on that one. And let's go to the 10 year. I figured it was being pegged to hurt the Russians or something because they were selling about 15% of the platinum in the world. And I'm watching, I'm watching. And you get what, and then finally, all of a sudden, it finally just started to lift up just a little bit right about there. It picked up. March of 25.
Starting point is 02:36:51 It not only started to pick up. So if you move your cursor a little to the right, I picked right about that, right about halfway up that first slope. I said, it's moving. And the volume went up about fivefold. So it was a high volume upward swing. And so I started hitting the buy button. And over the course of that ramp, I bought platinum probably 10 times.
Starting point is 02:37:12 Now, I don't buy big slugs. I buy peaks because I don't like the gamblers ruin philosophy of buying dips. If you're buying dips, there's psychologically, you're, you're, you're, you're, You're trading like a crack whore at that point. And I think, I think it's psychologically bad to buy dips. Unless you really know what you're doing. And it worked out really well. And the platinum story is different than the gold and the silver story.
Starting point is 02:37:43 The reason it's different is because, and I've tried to shoot down this model. I haven't been able to shoot it down. I've thrown in a couple of big guns. They said, you appear to be dead right. platinum has been in deficit production for about four years. Oh. It's using catalytic converters. Yep.
Starting point is 02:38:03 There's a few. It's actually being used for jewelry now that gold's so expensive. It's 70. It's a surgical implants too, don't we? Maybe. I don't think that's probably, it's probably not a big part of it. Probably not a big consumption part. It's mine primarily in South Africa, which is potentially a failed state.
Starting point is 02:38:20 So if South Africa fails, the miners are going to get killed. because the Marxist will grab them, but the price of the platinum will soar. Yeah. And 15% from Russia, we haven't exactly been licking their ass. And so it turns out that according to current deficit production and current above ground supplies, which, well, as of yesterday, for probably worth about $7 billion. That's not much at all. That's not much at all.
Starting point is 02:38:52 We are going to run out of it. of platinum in less than three years at the deficit production and the above ground supply. Now, they'll find supply. Of course. But that is about as bullish a case for a metal as you can make. If you look at silver, the same analysis gets you to do about 25 or 30 or 40 years or something. There's a ton of silver that we can consume before we actually run out of silver.
Starting point is 02:39:18 Now, they will produce more, but you know, you're not going to not produce a Ford F-150. because the platinum costs too much. You're just going to add it into the price. You're going to be really insensitive to the price. No, 100%. Was there any reference in the like, what is it, the strategic minerals reserve that Trump was talking about to platinum? I don't know.
Starting point is 02:39:37 Silver was put in there. Silver was, yep. So what do you think happened today? Then it takes, something put a beating on it. Well, here's what's interesting. The NASDAQ got a bit of a beating put on it, too, but it was much earlier in the day. So they're not correlating.
Starting point is 02:39:55 It's not like Powell stood up at a podium and said something. Yeah. The Vicks shot up. The Vicks shot up. Of course, that correlates for the NASDA. The VIX started shooting up around 1030, peaked at about 1130. So these markets are not efficient. They're not correlating by the second.
Starting point is 02:40:15 Yeah. But something important happened. I'm going to have to get on Twitter and find out what that all happened. I'll ask Liam. I was just looking at. Dentat. Kremlin Memo explores rejoining U.S.-led financial system. I'm just checking out Zero Hedge to see that anything. All Foreign Roads led to Milton Keys, AOC shows...
Starting point is 02:40:30 You know, Zero Hedge is not covered at all? This is interesting. Right? Zero Hedge has no coverage of the Epstein files. Oh, of course. Right. I find that creepy because they're usually pretty good on stuff like that. They are.
Starting point is 02:40:48 There's this one place in the world that people just don't want to talk about. there is a little postage stamp size place. All right. And just makes me want to talk about it all the time. Yeah, I'm saying nothing even from Zero Edge. I see nothing on Twitter right now. I'm going to have to ask some people say what happened today.
Starting point is 02:41:05 What's the narrative that it could be, you know, you hear about a gamma squeezes. Do you know what a gamma squeeze is? Because I sure know. No, not really. It's something to do with like short positions and leverage on derivatives,
Starting point is 02:41:18 but I don't fucking get what's going on. I just know what means to move violently. I think of gamas is synonymous with your testicles. You get your gamma squeezed, like that French ski racer. Did you see that video? I heard about this, that we have some sort of like testicular manipulation in order to go faster for the Olympics. No, what he did is he caught one of the gates in his crotch. Oh.
Starting point is 02:41:47 On a downhill. It was either giant slalom or down. Hill. And it got an audio and you can hear him whimpering. You can hear him. And then he seems to reach down his pants and look at his glove like he's looking for blood, right? I mean, serious. And the narrator, the narrator is having a field day. And he's going, boy, he sure got those boys that time. You got to find it. It's just search French skier. And you will find his video and it just It just rips us nuts. But the best part is the commentary by the sportscaster,
Starting point is 02:42:28 and which he just cannot resist making jokes about the guy getting neutered by catching the game. It didn't even look like that big a catch to me, but the sound effects from this skier were pretty spectacular. You can tell the guy was really not a happy camper. Well, I'm glad. I think that's the perfect place to put a pin. It is a nice, happy ending. Go check out a video, classic humor for a guy getting in the nuts. Professor Callum, where can everybody go to check out your stuff to follow you, all that fun stuff?
Starting point is 02:43:03 Well, you can find me at the bottom of the metals market. Yeah, that's my portfolio. Let me just finish with what it's telling me right now. Yeah, how bad was today for you? Yep. Ah, that's not too bad, because I'm sitting in negative 4%. Oh, that's not too bad. No, it isn't because with gold.
Starting point is 02:43:24 Oh, part of it's because the drop in gold's about three and a half percent. Yep. So, and my gold position is so big compared to everything that kind of owns whatever gold does, it does. My worst is silver. Silver and 11%. 11. I've got one green position. What is it? Two green positions.
Starting point is 02:43:52 They're both tobacco stocks. And I think that's the guys that J.P. Morgan say, okay, guys, let's light them up. Hey, you. Yes, you watching the Bitcoin price movements and the latest exciting news. It's awesome to stay informed. but the real power of Bitcoin comes from taking control. Don't just watch, take action. Head over to bTCsessions.ca slash learn
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