PBD Podcast - George Gammon Reacts To Trump CNN Town Hall Appearance | Ep. 268 | Part 2

Episode Date: May 17, 2023

In this episode, Patrick Bet-David, George Gammon and Ran Neuner will discuss: Trump CNN Town Hall Appearance U.S. dollar collapse Elon Musk Hiring Controversial Twitter CEO Linda Yaccarino Budlight The future of CBDC FaceTime or Ask Patrick any questions on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://minnect.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Want to get clear on your next 5 business moves? ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://valuetainment.com/academy/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the channel to get exclusive access to perks:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/3Q9rSQL⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Download the podcasts on all your favorite platforms⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/3sFAW4N⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

30 seconds. Did you ever think you would make it? I feel I'm so close, I can take sweetest theory. I know this life meant for me. Yeah, why would you plan on galiah when we got bett David? Value payment, giving values, contagious, this world, I want your panoras, we can't no value that hate it. I ain't running home, you look what I've become.

I'm the one. It's over a little bit, but if the US dollar is no longer the world reserve currency, what's next? Like we're seeing what happened with brick or bricks to not to preclude South Africa from that. What would happen with that? Don't open that kind of risk because we've been talking about this de-dollarization theory on our channel for months now. And it is true that the world is becoming de-dollarized.

Yes, kind of. There's more trade happening in non-dollar-denominated currencies. So you're getting oil deals done in R&B or Chinese R&B or stuff like that. R&B is one. Oh, whatever. Or Russian, Rubel, or whatever you want to call it. But ultimately, that Chinese one is still

picked to the US dollar. ultimately, that Chinese one is still picked to the US dollar. Now, is the dollarization happening? It's a process that will take many, many, many, many, many years. But what is the alternative? So, okay, cool. We all decided we don't want to be part of the US dollar.

Where are you going to go? You're going to get a China? You think China's a better option than the United States? Look, maybe the US isn't perfect, but let me tell you China's not much of a better option. I don't need you wanna be in the South African currency. It hasn't got a great track record. You're certainly not wanna be in the Turkish lira.

So where do you wanna be in the Russian currency? So the problem is that the dollar right now is the best of a bad bunch. But, and in order for de-dollarization to happen, what you need is you need for there to be a better option. Because otherwise, as capitalists, people will hold onto their money and say, even though this is bad,

that option over there is a little bit worse. It's still a government counter-party risk. Now look, we've taken the orange pool. So for us, we see Bitcoin, and we look at Bitcoin and say, look, you need to have a certain percentage of a portfolio in a neutral money. There's not linked to any country that's linked to an algorithm and a mathematical formula. But other than that, and

again, I put the question to you guys and said, if there is de-dollarization and you guys are forced to de-dollarize, where are you going to put your money? Yeah. But when the answer is you're gonna rather be in your stocks. Yeah, when you go back, I agree, by the way, and I think that we are definitely in the process of de-dollarization, that's without question and the dollar is absolutely losing its reserve currency status. But that doesn't happen overnight,

it doesn't happen over years, that happens over decades. And if you go back to the last World Reserve currency, the British pound, that started losing its dominance in the 1920s. When they came in in 1944 and Bretton Woods, that's just kind of the icing on the cake, right? And so what you see is you never have a global reserve currency that is implemented by decree, that you have a king

or a Putin or whatever come in and say from now on we are using this bricks new currency What happens? It's it's always bottoms up So those entities within that economic system say hey, we want to do more business with the United States going back to the 1920s Right because the US is growing and growing and growing we have more business we have more customers there So we want to hold more more dollars on our balance sheet. And as the US economy grows as a percentage of global GDP, so does the use of the dollar. And that's how it happens. So the bricks are Chinese one or whatever, yes, over the long run, it will overtake the dollar, but it will only do so as that, that economy overtakes

the United States economy as far as a percentage of global gdc so i saw a chart of uh... gdp of the g7 versus gdp of bricks and if you look at the gdp of the g7 it's a chart that goes like this and if you look at the gdp of bricks it's a chart that's going like this yeah but well the trend is there but still as a percentage still heavily favoured the g7 so i don't know if you've got if you've got that chart it was a treat by gobor goberurbax, I think his name,

and he shows the chart that does that and that. And I mean, the trend you can see when you look at it in isolation, there's nothing, but if you look at it in over a long period, it's actually quite a scary chart because bricks is going up and the G7 is going down and the two crusts the long time kind of like that. I also saw some stats that showed the GDP of China relative to the GDP of the US forecast for 10 years or not. And let me tell you, it's scary because

the rate of acceleration in China versus the decline in versus the US is, it's a very, there we go. So that's the line that I was talking about. The red line is the Bricks countries, the blue line is the G7. And that's GDP. And that's going from 1995 to 2025. The lines have crossed. Okay, you were talking about people wanting to hold

the currency of the economy that was growing in GDP. I'm trying to, I'm like, last. There's your GDP? I'm just trying to add on my glass. There's your number. There's your chart. There's your chart. You've got the Bricks countries growing in GDP. You've got the G7 going down. The biggest economy in the G7 is the US.

Yeah, so the only other equation is that dollar-enominated debt, which is future demand for dollars, and how rapidly, you know, or looking at another chart of global debt denominated in dollars outside the United States, as you start to see that decline from, let's say, 70% down to 65, you're seeing the dollar lose reserve status in real time. But what the mistake people make here is they, when they look at this equation in probabilities, is they only focus on dollars being on the asset side of the balance sheet and they forget that dollar liability is on that other side and that creates future demand for those dollars.

And if the banking system contracts, if we have a global slowdown in economic depression, those dollars are going to be harder to come by. Now people say that, oh my gosh, the Fed's going to print money in the Fed's and we're going to dollars money printing. That's fine, but how do those dollars get outside the United States? You see, the way they get outside the United States is to the trade deficit. That's fine. That's 1.2 trillion per year, but you're looking at a global economy that needs a hundred trillion dollars, so that has a hundred trillion dollars in it. That's just a drop in the bucket. So, it's, go ahead.

Just try and look for, I'm just trying to think there's another chart we could actually show you, what percentage of countries are holding US dollars as part of the global reserve or something like that. And what you'll see is that over time, it has declined. Yeah, but that's central banks. Central banks.

Yeah, I agree, but I think you really gotta look at the private sector there. And then to do that, that's why I like looking at that debt because it includes the debt on the balance sheet of the private sector. So I think what we can agree on is that de-dollarization should happen. Yeah, and it is happening. And it is happening. The problem is that there's no viable alternative currency right now that could displace the dollar. So as I say, in order for D dollarization to happen, you've got to have a viable alternative, you're basing it on trade.

Right now there is no BRICS currency, and if there was one United BRICS currency, maybe we'd see a different story. Yeah, and you've got to have something that interrupts the network. I mean, I know you're a crypto guys, you know how important networks are. Well, that's, and there's never been

a more powerful network than the dollar. Never, ever, ever. You include the Euro-dollar system and the global banks that are on dollars. So how do you penetrate that? That's very difficult. I just hold up the growth level of Bricks versus GDP maybe ahead, but size-wise, it's not yet.

Population wise, Bricks is obviously, Bricks is much saying it. Yeah, that's what I want to define. It Bricks is size of population. It's not yet. Population wise, Bricks is obviously much saying it. That's what I want to define. Bricks is, besides a population, it's not even close. But in regards to GDP, the G7 still has Brickspeed. But growth is exponential. Growth is exponential.

You can, by the way, the one that is going to drive it even, and they're not going to slow, I don't think it's going to slow down any time soon. I think India is going to continue to do what they're doing. But this conversation leads to gold in my mind. Here's an article from Forbes. Why gold is a good investment right now? Maybe set for a new record price. Gold prices are approaching it. They're all time high. With a 10% increase this, you're driven by investors seeking a safe haven asset, amid economic uncertainty. UBS predicts gold could surpass its record

price, setting a target of 2,200 per ounce by next March citing factors such as weakening US dollar banking sector stress, debt ceiling concerns, easing interest rate expectations, and the likelihood of recession, gold's price surge is primarily influenced by macro variables rather than supply and demand fundamentals, UBS analysts, CleaveRuckerd notes that gold prices driven by factors like US real estate and the strength of the US dollar, the surging gold prices unique as it is unrelated to its case.

So use case, what do you think is gonna be happen on what gold? Well, I think it's a question of timing, right? So if you say is it five years or is it next five months, I'll go ahead and start by saying that I think everyone should own gold and I don't really see it as an investment. I just see it as insurance. So regardless of the price, I always put it 10% of my portfolio because I don't care if the price goes up or down, it's just purchasing power, it's that insurance policy. Now if you say the next five months, I would say my base case is that gold actually goes down, later or not, because I think that it's overbought.

And if you look at history, going back to COVID or the GFC, when you have a crisis situation, gold actually goes down, because the only thing on the balance sheet that these big funds can sell, that's the only thing that has a bit, because it's doing its job, right? So if you go back to Lehman Brothers, you see that gold just crashes. And then once rates get down to zero and the market says, okay, we've kicked the can down the road is Pat was saying because we did all this, we'll call it quote unquote money printing, then they gold rips higher, absolutely rips higher

and did the exact same thing during COVID. So if you say the next five months, I'd say there's my base case is that gold actually trades lower. But if you say over the next three years or the next five years, I think it goes way, way, way, way higher. But I don't know in real terms, definitely in nominal terms. But again, that's what the caveat of I think anyone should always own gold from a to any price because it's not investment, it's insurance. I think I agree with you 100%. I don't really care about the next five months, because that's not an investment horizon for me. But I think in the long term, gold certainly does continue

to go up because of exactly what we said. With $1 rising, because we're going to need, because we're $1 rising, we're going to need anything else to $1 rising. Right now there's only one other neutral network, which is not owned by any of the players, right? And that neutral network is gold, right?

Like, if you think about currencies, currencies are all linked to a specific country, gold is not necessarily linked to a specific country. Right. It's the second network. Now, the law of network effect says that it's called Barabasis law. Now, I can maybe break down network effects. But the law of network effect states that in the absence of regulatory interference, users will flock to the busiest nodes.

So what's the busiest node? The busiest node is the US dollar today. So let's just think about what network effects actually are. If a network is defined as anything, where each individual user increases the value of the network exponentially. Okay, so let's just quickly define that. If we talk about WhatsApp, which is a telecommunications network, if there are two people on the network, myself and Adam, the maximum number of calls I can make on the network is I can call you and you can call me. Two people can make all this, two calls on the network. If we add Patrick to the network is I can call you and you can call me. Two people can make all this to cause an earthquake.

If we had Patrick to the network, I can call you, you can call me, I can call Patrick, he can call me. And he Patrick can call you and you can call Patrick. So now there's six. There's six. So we've increased the value of the network exponentially. By one person. Exponentially. So the first thing is that networks continue to grow at an accelerating rate exponentially, which is the most powerful effect in the world.

That's why networks are so powerful. That's why Google is so powerful and Amazon is so powerful and Uber is so powerful, is because they are all networks. That's the only thing that they all have in common that is amazing. Now, the second rule of networks is in the absence of any regulatory interference, users will flock to the busiest node. So always say, if you're landing in a new country and you go to decide whether you're going to WhatsApp In the absence of any regulatory interference, users will flock to the busiest node. So always say, if you're landing in a new country,

and you go to decide whether you're going to go on to WhatsApp or some other chat messenger, you're going to go to WhatsApp because everybody's using WhatsApp. That's the busiest network node. So it's the same thing with money because money is the ultimate network. The US dollar is the network with the most users and therefore people will flock to that

network. The second biggest network is gold. And so you have to hold gold because of the network effect that it has in the monetary system. And that's why I agree with you. I don't have 10% because I think each individual based in a risk tolerance may be slightly different. But you have to hold gold as part of your portfolio.

Not to me, I see an extension of gold, which is digital gold. To me, that's Bitcoin. So I take some of that allocation, and I'll put that sound that allocation into Bitcoin. Yeah, I was in Turkey a couple of months ago. I wanted to spend, we all know that they've gone to this hyperinflation. I spent a few days there. I had a tour guide. This guy was probably 30 years old.

And I was obviously asking every column now. There's four guys. I like it. But now I should only find out I have a tour guide game. I am. All right. This is Bill Tuller. There's still a little teller to nendown. So this weekend I was in South Beach hanging out with a couple tour guides down there. Anyway, go ahead, George. But I was very inquisitive with pretty much everyone I met.

You know, I said, how are you guys dealing with this inflation? And they're actually dealing with it very well. But here was, this was their strategy. What they do is they get paid in Lyra. At the end of the week, they pay all their bills. And anything they have left over, they immediately turn it into dollars or gold. Yeah. Exactly what he was saying. Then I went through the airport, that brand new airport they have, they're gorgeous. And on my way out, I just happened to get a coffee, you know, and they opened the cash register. I just happened to look in that cash register in Turkey, and all they had

in there were US dollars. Well, let me tell you what happens when you can't get US dollars because the flow happens. First of all, they use US dollars, but then the problem is that everybody buys up all the US dollars and there's not enough US dollars. And then you know what they do. That's the short squeeze I'm talking about. Well, no, they start using airtime data and minutes. So in South Africa, for example, because we're in Zimbabwe,

where you can't get dollars, what you trade in is you trade in minutes of airtime. So call minutes or gigs of data. They do that in Ecuador as well. But I want to be very clear for the viewers. And I think you might echo these thoughts. I'm saying that the dollar, if we have a big crisis situation, does that flight to safety and the liquidity issues we talk about?

The dollar goes up, but I'm talking about going up against other fiat currencies. I am not talking about the dollar going up against goods and services in the United States. This is a hard concept for people to understand. They have to look at the dollar's two separate currencies. Inside the United States, we can have 10% inflation, while the dollar is going up by 10% outside of the United States relative to other fiat currencies such as the Europe, the Turkish Lira, etc. and people really need to understand that concept. That makes sense.

That's good to make that distinction. Okay. So next story, let's talk about Musk here. Musk hires an ex-NBC universal ad in chief, Linda Yukarno, to be Twitter CEO and people lose their minds. So This is a CNBC story Linda your car. We know the formal formal global advertising chief NBC Universal has been hired as a new CEO to Twitter must come from the higher in a tweet stating that Ecaria would focus on business operations while he focused on product design and new technology Her appointment comes after Musk's announced his intention

to step down a sea of Twitter. She brings extensive experience in relationship in the advertising industry, which could help Twitter regain advertisers who have withdrawn due to offensive content. Issues Musk acquired Twitter last year and implemented. Changes that led to a loss of ad revenue, you know, is role will be crucial and rebuilding relationship

with advertisers and improving the platforms that petition. Her departure from the NBC Universal is immediate and Mark Marshall will serve as the interim chairman of the company's advertising and partnership group. Is this a good or a bad look? Did they didn't even, did they put the fact that she's huge in the world economic form? Yeah. Yeah. I don't know if that's the end of the year. But I think that's the right. They intentionally did. Yeah, I don't know if that would intend to use it.

But I think that's the right thing. They intentionally did that. So what do you know there? So either one of you guys take the lead on this one. What do your thoughts have? I've spent a lot of time speaking about this. I can spend two hours on this topic. I'll tell you why.

When I was at Harvard, the first thing I taught us around Elon Musk's in recruiting strategy was when he took over Tesla. When he took over Tesla, he didn't start Tesla. He took over Tesla from, he was an investor, when he took over Tesla. When he took over Tesla, he didn't start Tesla. He took over Tesla from, he was an investor and he took over Tesla. And they asked, what is the first higher Elon Musk makes when he moves into Tesla?

Now, the question is, when you move into a company that's failing and you're gonna rescue it, watch the first hire that you make. So question, guys, what is the first hire that Elon Musk makes when he joins Tesla? It's just him. Who's the first hire that you make. So question. Guys, what is the first hire that Elon Musk makes when he joins Tesla? It's just him. Who does he? Who's the first person he has? All right, the accountant lawyer. Recre-a-recreta. And HR is what I'm gonna say.

HR, HR, yeah. Okay, cool. He's got the HR manager. What's the next person that they hire? Ops. Someone to make cars, engineering, head of engineering. Okay. Where does he get this head of engineering, right? Where does he get this head of engineering from? Now, this is where the, this is the mindset that I couldn't understand yet. Where does Elon Musk, imagine that you're going to set a car, you're going to go and take on all the car manufacturers in the world, you need someone to help you build cause.

Where do you hire that someone from? Someone from the big three? Which one? Which I want? For GM. For GM. Chrysler. Toyota or Nissan? Nissan's actually in the Nissan reverse master.

No, no, no, no. Elon Musk had a engineering from Google or something. From software wise. Because you never hire from the industry that you're in. You hire from the industry that you think is gonna disrupt the industry that you're in, you're higher from the industry that you think is going to disrupt the industry that you're in. Now, this for me, he hired someone from the old God. I mean, he's he's out to disrupt media and he's hiring a CEO from the old God. That's not an Elon mask hiring strategy. So they're not analyzing this thing even further and I'll sort of hold on a second. What is he doing here? And I think I

understand what he's doing here. The power of Twitter is actually the product and the algorithm. Like I think about what Twitter is, Twitter is the product in algorithm and it's not actually the CEO. And I actually think that Twitter would operate better if it didn't have a CEO. I think if Twitter just operated by itself without a CEO, Twitter would be a much better platform when we'd get much better content

with a lack of oversight and policies, right? And so I think what he's done here is he's gone and hired somebody that is the exact complement to him. So you think about Elon Musk? The first thing he did when he walked in, he pissed off all the advertisers. He pissed off every single one of the advertisers. Did some damage there, broke it done. He did a lot of damage with the staff. Like he walked in there, he walked in there with a kitchen sink.

You know, as a CEO, no matter who you are, you don't walk into a company with this kitchen sink. He did big damage with the kitchen sink. I mean, you know, people may walk around smiling and some people may have tolerated, but the message was everyone is fireable. So damage with the advertisers, damage with the internal staff. So now he needs to hire someone that is going to fix the mess that he made. So he has, he has Linda, she's great. She was head of partnerships and advertising at NBC. She's managed $100 billion book or whatever, however big the book was. She's famous for combining all the sales teams of all the channels, which means that he's going to make it profitable because she's got a track record doing it.

But again, what is the part of Twitter? The part of Twitter is tech and product. The CEO in a private company called Twitter, it's a private company, Elon Musk owns it. The CEO is not, she's not the CEO, the CEO is the biggest shareholder. I mean, you can be the CEO, but you got a big shareholder. Yeah, but I think the elephant in the room is the model of hired Clou Schwab. Not really, because she's she's she's world economic forum, but on a specific agenda, which is The great reason agenda. No, it's work. It's it's a it's a it's the new work The new work environment she was also on one of the councils for Trump

I think she was on sports and fitness or something. So she's quite balanced in her views She's an advertising person. He needs an advertising person. She's a brilliant people's person. She managed a team of 2,000 people. He's not a brilliant people's person. Yeah. Yeah. She's he's hiring the compliment. But again, the thing that baffles me the most is that Elon Musk is known to higher disruptors and not known to higher disrupted. Yeah. I don't know. I don't know. My my view is that the global elite, especially the world economic forms, they're a mouthhousying cult. Let's just call a spade a spade.

So you're saying that, oh, she's great, but she's just from this mouthhousying cult. I'm saying, I'm saying in this case, don't judge a book by the cover. I think let's give her a chance because everyone's reading two lines in her CV and already judging her by that. I think. So how do you hire somebody then? How do you hire somebody? You don't judge them by their resume. I mean, Pat, I think this is a great question for you.

I do, but hold on, Twitter's not. You hire them by the resume, but you also have a face-to-face discussion and you judge the intellectual, the intelligence and their emotional intelligence. Twitter and all of us are judging by five newspaper headlines and bios and stuff like that. I'm not super excited about it. I was super surprised by this hire, but I'm kind of made a resolution

that I'm not gonna judge a book by its cover. And again, I said to you, I don't think that the CEO of Twitter is such an important position. I think the more important position is the product manager and the tech guy which is keeping and the owner of the company which is 100% shareholder who's also the only person who can fire the CEO. Yeah, I think there's two options here. Number one, she's like a secret libertarian that

was just using the World Economic Forum for, you know, for a network, right? Or she, or Elon Musk is just sick and tired of Twitter. He's like, I get I got to get back over to Tesla And even though she's part of the world economic forum and even though I'm coming out and saying that I'm a Leader in free speech. I know that she's got all the connections and she's gonna keep us from going bankrupt So I'll hold my nose and hire her anyway, so I think this is a great question I'm gonna ask you know since you have so much experience as an entrepreneur Would you hire someone? You know, if they came in and said, hey, this world economic forum, I don't know about that.

And they said, well, look at I'm a secret libertarian. I was on Trump's board for the physical education. Look at the people that I follow on Twitter. They're all, you know, Ron Paul and what not. Would you give her a pass or would you be suspicious enough to say, I just, I just don't trust this gal. What do you think? So, say, I just don't trust this gal. What do you think? So first of all, Elon Musk always reminds me how broke I am. You know, when I'm comparing that to what I talked about this this week in Dallas.

And it's great because there's always a guy that you can compete with in the market place. But I don't know the whole story. I'm going to give it to you from the outside perspective, from my POV. So why did he buy Twitter? Actually, answer the question on why he bought Twitter. Twitter was an invest investment for you to buy.

You could have bought hundreds of companies better than Twitter in regards to investment. You know, like, you know, if you were to sit there and say he could have bought a complimentary company to Tesla to bring them in and do XYZ. He could have bought so many different companies. So why do you buy Twitter? You bought Twitter because he was concerned of freedom of speech with all the stuff that was going on. It was a cause driven thing that he was doing, okay?

No problem. Then after he bought Twitter, we didn't yet know, because he originally bought 9.2% whatever the whole Morgan Stanley announcement, Elon is now 9.2. Well, he doesn't want to be on the board. He just kind of wants to be on the outside. And it's going to be all right. Next thing, you know, no, he wants to buy the whole thing, but he's not going to be firing the CEO. Now, it's not really going to be happening.

You know, your professor, Galloway, comes up watch. He's not going to close. All he's trying to do is manipulate the stock and he's trying to hurt them. No, he ends up closing. And he wants, I don't think it's going to really. He's not going to daily operate. No, he was responding back to everybody customer service. He can get a hold of, oh my God, Elon just retweeted me. Oh my God, he's just responded't think he's gonna really, he's not gonna daily operate. No, he was responding back to everybody, customer service, he can get a hold of him. Oh my God, he launches retweeted me. Oh my God, he launches responded to me. Oh my God, he launches like my tweet.

Everybody's like, damn, this guy's, how the hell is he doing? Does he sleep at night? He's at the home office. He's to, this is, so the whole thing was caused driven. And then the messaging was for us to get away from relying on advertisers. Then you go hire somebody who strength is in advertising.

You're confusing the audience on why you bought the company in the first place. So to me, the biggest confusion is, why do I Twitter? If you bought it because you wanted to be that person, then this may not be the best person to hire. So I asked the question, why? Well, she recognized Larry Fink from BlackRock. What a great job he's doing.

And we need to pay attention to ESG. And I don't really know if there's anything really fake news. Fake news is really from the people that are the non-journalists, the true journalist, from the mainstream media, they don't have any kind of fake news. Seriously, that's against his philosophy of what he's doing. So the messaging, while we sat there, we just heard an editor-in-chief and he's saying, so, you know, what is success for me here?

As a success for you here is for us to not need sponsors and advertisers. Right now, we have three major gold companies that are bidding to be the main gold sponsor for the brand. And we're doing a hardcore investigation on who these guys are. And they're putting some real numbers behind it. We're not talking like a multiple six. We're talking about a real sponsor. But guess what? Here's how we don't do it.

Okay, this is who we are. This is how we're going to sell it. You can't get to tell us what, not to talk about all this other stuff. These are bylaws on what we do, right? Why I don't want to rely on a person telling me what to do. I'm in a negotiation right now of a time, you know, the story of a sports team, okay? That I'm working on potentially. Anyways, so we've gone back and forth.

Okay, this has been going on for how long now? 12 months, 11 months. I think it's the one year anniversary of the kickoff of those negotiations. Every background check you can think about has been done on me. And it can just to be a professional minority owner of a well-known sports team that we're talking about, right? One, the four major sports that we're talking about.

You know where it's at right now? Here's where it's at right now. Why this could happen and it doesn't happen. It's, listen, we see where you're at with your positions. We don't like our owners to say stuff like this. And then I have to go have a meeting with them right now. Literally, I'm having a meeting with them next week. Because they watch your content.

And guess what my meeting is going to be about? What I'm going to say? I'm telling you, I needed an email that if I become an owner, you're not going to tell me what to say and what not to say. Because I left Iran, so I don't have to fear freedom of speech, and I can tell you, and I made money so I don't have to be controlled what I have to say and what I don't have to say. When I was running an insurance company, I was getting on stage talking about certain things people were saying, you can't be saying stuff like that. Go to another company. You can't be talking about that kind of stuff.

I totally get it. So for me, my concern here is, you went selling this philosophy of not relying on advertisers and you hired this person you know how weird that is it's kind of like this it's like saying you know hey we're gonna go and be a the one with the way we're gonna win a super bowl championship is by the Pittsburgh Steelers model let's have a strong defense Baltimore Ravens strong defense and if Ravens, strong defense, and if a draft becomes, first six rounds, each person you pick is all an offensive player,

wide receiver, running back, quarterback, running back, full back, wait a minute, you missed after that linebacker, that guy's a linebacker, defensive, human, what are we doing here? So it's like, I think that's the biggest disconnection audio. Do you think he just got in over his head? Like initially that was his game plan, but then when he actually looked at the revenue

company, he's like, if I keep doing this, I'm going to bust and that could jeopardize Tesla. So, okay, that was all fine and dandy, but now the rubber's met the road, and I got to hire someone that's going to keep us afloat. Before you answer this, let's just consider two things. Go for it. He's got deadholders.

People have dead. He didn't put the for it. He's got deadholders. People have dead. He didn't put the money in himself. He has deadholders. The deadholders are maybe looking at this and going, look Elon, you can't be treating the advertisers like this. Ultimately, you've got to repay our debt, watch your monetization model. Then 2024 is a very interesting year, right?

What happens in 2024? Elections. And Olympics. Okay. Two of the biggest advertising events in the world. Two of the biggest advertising events in the world. But let me get to straight. So do you realize what do you realize what they said the other day with? Did you see the Richard Dreyfus interview when they said what it takes to win an Oscar nowadays? Did you hear about what it takes to be nominated for

Academy Awards City? What you have to do as a company? Did you guys read this article or no? And you heard what Richard Driver said. Okay, can you pull this article? I just want to read this to people for them to really go. Go to news, go to news and the article will pop up. It's New York Post or Washington Times. Pick either one of them. Anyways, I have it right here.

So I'm guessing this has a high DEI. Yes, she's in order for you in order for you to be considered, in order for you to be considered for Academy Awards now, okay. You have to have a certain number of actors in the movie that are a part of the LGBTQ community. You need to meet us, I'll read the article to you. So Hollywood, new diversity, Hollywood, new diversity,

let me just close this up. Hollywood, new diversity rules are making one actor sick. Legendary actor, Richard Drive is condemned. The inclusivity changes that will be implemented for next year's Oscar, Saint-Denou Standards, make me vomit. This is an art form. It's also form of commerce and it makes money, but it's an art. He says this in an interview with PBS firing line with Margaret Hoover, and no one should be telling me as an artist that I have to give it to the latest most current

idea of morality is Richard drivers goes off and says what we are risking. What are we risking here? Are we really risking hurting people's feelings? You can't legislate that and you have to let life be life. And I'm sorry, I don't think there is a minority or a majority in the country that has to be catered like that. And it goes into breaking down what they're looking like. On screen representation needs to be a certain percentage and it's classified at least one lead character

from an under-president, a racial or ethnic group having at least 30% of secondary roles, be from two under-president groups, or mainsteroid. Do you see how much bullshit of a story this is where they're going with this, right? So the categories each pertaining to different aspects of movie production would require new diversity measures to be met on screen representation, creative leadership, project team, industry access, opportunities, audience advancement.

Okay. So now go to Olympics. What are you things going to happen with Olympics now? What are you things going to happen with Olympics? But the teams are going to have to have that. But that's what I think he's hired someone that's the opposite of him. Someone who's hit of partnerships. She's hit of partnerships.

But she's going to come in and she's going to say the Olympics that they're going to give us $50 million if we're able to recognize transgender as such and such. Or if we can shadow band Patrick that David. Yeah. Or, I don't, I don't think we're saying the same thing. I'm saying in the Olympics, Nike are going to want to advertise. Adidas are going to want to advertise all the sports brands. Those are ESG companies. Yeah, but they're all going to want to add. Those are all ESG companies, buddy. This is a war. This is not a regular thing we're talking about here. To take a stand, I'm not a rumble guy.

We do our stuff on YouTube, but I love what rumble's doing. I think rumble is necessary. I'm not a Spotify guy. We put our stuff on Spotify, but we're not like going out there saying, let me buy Spotify stock. Spotify is necessary when they protected Rogan. What he did with Twitter, he scared a crap out of everybody in Silicon Valley.

He took a company, Twitter, and then from then it was talks, maybe he buy CNN, people started shivering, they could no longer play games. Talker goes to Twitter, now you want to go out there and start giving somebody like this that's going to go to advertisers and say, hey, you get $100 million from these guys, but here's what we need to do. We need to make sure we do this. And we need to make sure. But no, but I think that's ying and yang. I think he's the one that's gonna protect

that we're not badging, et cetera, et cetera. She's the one that is good at partnerships. She goes to Nike and says, look, we can't really do that, but you know what we can do? Everything at the end of the day ends with two words. We'll see, okay? Ying and yang. No, everything's gonna be we'll with two words. We'll see. Okay. Ying and Yang.

No, everything's gonna be we'll see. Okay, we'll see. But to me, you didn't have to go get somebody from world economic forum. You could have gotten somebody from a lot of different places. But do you, you could have been part of that. If, like, you know, I could be part of the world economic forum and do it for completely different reasons, right? And I'm still keep my principles and my libertarian views.

I could be doing it just to get inside. You know, you keep your friends closer and your enemy, your friends closer and your enemy's closer. Do you think that she could be kind of a libertarian at heart or a free speech enthusiast? Well, no, but- Have the same worldview, but was just in that for her job. George, maybe you don't-

I'm playing devil's advocate. I please keep playing devil's advocate. I want you to keep playing. Let me say my thoughts on this, maybe. You don't. I'm playing devil's advocate. I please keep playing devil's advocate. I want you to keep playing. Let me say my thoughts on this, on responding here. Okay. Yes, you could have hired your president that somebody's from there.

Your COO, no problem. CTO, fine. CMO, cool. CIO, no. Because CEO has to buy into your philosophy and division. I don't think you can do it with your CEO. Again, guys, like I said, Musk always reminds me how broke I am

because the guys made a lot of money. I'm a big fan of what he's done. We talk about him in a very respectful way in a place like this, but I don't think you can get a CEO that doesn't fully, that goes out there and says fake news doesn't exist, and thinks Larry Fink and BlackRock is doing a great job with ESG and thinking ESG and DEI all this stuff are great things that are being done. No, you're going to cause concern in certain people that

got there and started being active on Twitter because they finally realized I'm not going to get and after Twitter files 1, 2, two, three, four, five, how many times have we realized who's been this and who's been that, so now guess who's gonna be doing the hiring, who's gonna be hiring the people in the company alone? No, she is, who's she gonna hire? Who's she gonna bring in?

Okay, so who, now if I'm the CEO, I run a company, I run multiple companies now. So who, do I get approval on who to hire? No, I'm hiring the person I don't go to the chairman the board. This is what we're gonna bring us CMO Yeah, you fast forward two years and Twitter is Twitter of 2019 it's past goes right. So hold on you're not you're not considering two things First of all, it's a private company With a majority if not a hundred percent of the shares held by by one individual in a private company

You have a CEO, but the real boss is the owner. It's not a public company with this. There's a boy, it's Elon. Elon, whatever Elon says eventually goes, she knows that. The second thing is, he is extreme on the one side. When you extreme on the one side, you piss a lot of people off internally and externally.

What's the best strategy to mitigate that? Bring in the Yang. Bring in the Yang strategy to mitigate that? Bring in the yang. Bring in the yang, and let's... If it's only about money, if it's only about money, ran, if it's only about money, and you were doing this to make money and figure out where to increase your $44 billion,

you should have looked elsewhere. You could have made money in different places. Go in this direction and compromising the real threat that we have with ESG, DI, DEI, all of these things that's going on in media. People are sitting there looking at candidates that are criminals, yet the real criminals are the one that are being sold as angels.

It's kind of a weird time we're living it. So this guy who did this, now again, I've hired people and from the outside, people have bitched about who I hired and this I can't believe you hired that person. How could you pick her and how could you pick him and why'd you make her to see, oh, you think she can be the president,

you don't know what you're doing, totally get it. I get that, but my concern, if it was money, you should about a different company. If it was a cause, you really wanted to be that cause guy, then stick to the cause and hire somebody that's a CEO that's more a registered independent coming from a different space. Who's the real, who's the real CEO of a private company in a technology sector? Just quickly, is it, is it the owner plus the CTO plus the project manager? Or is it the owner plus the CTO plus the project manager or is it the appointed

CEO? That's the question again. Who is the real CEO of a private company that relies on this technology? Is it the owner plus who is also the CTO and the product manager or is it the appointed CEO? Who is the real CEO? I know what you're saying, but also on the flip side, George Soros just sold all his shares with Tesla,

public announcement. I don't know if you guys saw the store now, he's leaving Tesla and Tesla's not in the best shape right now with all the criticism they're getting in Tesla, was at 1.8 trillion dollar company, so you're talking about a company that is calling left and right for Elon to go there and do this. This is not a guy that's just doing Twitter, just doing Twitter by himself and it's going out there

hanging out. This guy's got a lot of stuff on his plate. So I do think when you bring somebody like this who is coming in, you don't know her personality is like, here's what the personality is like. I guarantee you in an interview she asked the question of Elon. I'm fully convinced she asked this question. Elon, you're going to let me run the company? Or am I going to be one of your employees, one of your friends that you do everything through them? Or are you going to let me run this

company? So I'm not leaving NBC Universal if you're not going to let me run the company. Zero to a hundred. What's the chance that she asked that question in the interview? A hundred. Okay, perfect. So guess what she's going to say. So what can we put in place for me to know you're gonna let me run the company? There has to be an agreement, okay? So if he starts trying to impose, she doesn't like it. We're gonna hear about it within three to six months. That's great.

And who's the world gonna side with? What? With him. And that's the game here. I'm not disagreeing with you, but for, you know, there are a lot of different people that I'm sure he interview a lot of different people that he could go through. There are a few things that are philosophically against what he believes in, and she doesn't think it's a big deal.

Isn't philosophically. Isn't one of the philosophies in a company like this that if you really want to make it neutral, then you've got to have someone very strong pulling lift and someone very strong pulling right? No, I don't think so. I think there's one thing you don't have to be neutral in. I have no desire, like there's one thing we do when we hire people here. You know what it is?

Here's, I'm not neutral about this. You're going to read a book every month and write a paper on it. Seriously? I'm not neutral about this. You're gonna read a book every month and write a paper on it. Seriously? I'm not neutral about it. I had a person in the company that says, well Patrick, this is, you remember this. This is too much, you know, people are stressed that I said, nope, that person needs to leave, they don't read the book of the month.

I agree. So what you know what we did? We created in our bylaws, day one, when we're hiring, prehiring, agreed to read a book every month and write a paper on it. You're serious? I haven to read a book every month and write a paper on it. You're serious? I haven't read a book for a while.

I totally get it. If you're not gonna do this, this isn't a company for you. Okay, two, here's what we believe in in value-taming. What's that? I don't care if you're any ethnicity, any sex, but I care that you know that capitalism's the way to go. We don't sit here and say,

what we should have a couple of communists here as well. And let's have a communist, see you run it. And let's see how value-taming does. It's okay, let's have a neutral because I'm so much of a capitalist. Let's bring the communists. No, you cannot compromise freedom of speech. But you're talking about a capitalist company with capitalistic ideals. This is a different business. This is supposed to be a neutral platform, which is not about being monetized. Yeah, but neutral by definition is freedom of speech. If you've got someone's way on the left and one on the right, I totally

agree with you, but they still have to agree on free speech. Look, again, I'm skeptical of it. I've agreed not to judge a book by its cover. I'm just making the counter case here. Yeah. Having studied a lot of Elon's hiring decisions in the past, this one was one that truly surprised me. And this is how I've rationalized it

over the last couple of days since it came out. What did you see about the tweet? About when he hired her? Did you actually see his tweet? No, what do you say? He basically said that she's gonna be running business operations. And he's gonna be running product designing technology. And together, they're gonna turn it into X, the everything app.

We talk about this all the time, where they're just more than a free speech platform. They wanna be the go-to everything like how what do they have in China? What's the go to app that they have there? We are everything. It's which exactly that's essentially what it wants to do. Let's play a little game here. How long is she gonna last? Let's maybe all just write down on a piece of paper. How long is she gonna last? And then let's meet again and see Yeah, I mean basically your argument is ends justify means

But then that goes back to what Pat was saying. It's it's, basically your argument is ends justify means. But then that goes back to what Pat was saying. It's what's your priority here, because initially your priority was freedom of speech. And now the sudden your priority is profit and growing the world's biggest app. So where are we here? Elon, you know, what's your true objective? What happened? Elon passed that the one there was one Sunday with Elon tweeted something and he said, if you post any links on your Twitter, which take people out of Twitter, that account was gonna be banned.

It was to that one platform. It was the stuff that, yeah. But it wasn't any stuff that, the word was word it is, the word was word it is, if you post any links to go outside of Twitter, what happens? Who is going to push back on Elon

when he does shit like that? Because for one weekend, I shut myself, because I used my Twitter to promote my YouTube. And I post links to my YouTube show as you guys post to your podcast. And I sat there and I thought, this goes on, my account's getting banned here, because every second tweet is, listen to my podcast, meeting me at Patrick Badevin Chur. Someone needs to push back. Because otherwise it's the Elon show. Someone needs to push back.

Because otherwise it's the Elon Musk. And you're saying that should be heard. I'm saying if you were gonna hire someone to push back, you wanna hire someone that is pulling the other way and not someone that is not a business. It's a platform that is designed to be a manitual. I understand fully what you're saying. And I don't disagree that you need somebody that's

going to do certain things. For example, marrying a wife, what's more likely for the marriage to be catastrophic? Ready? Both are Christians. One is a Communist, the other one is a capitalist, or both are capitalist, one's a Christian, one's an atheist. What's more likely for the marriage to work out? Let me ask the question one more time. Okay. Did you study on this? I'm gonna ask the question. I won't actually think about

this, okay? You got a husband and wife. Both Christians, they met at a church. One is a full-blown capitalist. She believes in personal responsibility. You can do something about it. The other is a communist. Things rich people are greedy. They have character flaws. They're selfish. They marry each other. Or husband and wife marry. They both believe in capitalism. One's a Christian, one's an atheist. Which one is more likely to work out? So you're asking the level of idea of importance of what is more important? Religion or philosophies of how to live on. I would say I think it depends on kids. Assuming there was no kids in the equation. I would say the atheist and the Christian have a better chance

What do you say Tom? I think the atheist and a Christian have a better chance if there's no kids because I think that get real complicated I think I think it's different I think that you defined in hierarchies and I think the higher I think I mean I don't I've been thought about but I think you defined as being Male and then being of a certain religion and then being of a certain philosophy I think but I haven't thought about it long enough. My parents, God married, they were both Christians. They both believe in Jesus, they both believe in God. Okay, my mother was a communist, my, that was a capitalist.

I cannot tell you how catastrophic that was in a household and how confusing it was. I can't even describe it to you. What a hot mess it was. Okay, one believed rich people are greedy and they're terrible human beings. The other one believed poor people are lazy and they don't do anything to take full responsibility for themselves. They divorced twice in 20 years. Okay. My parents twice in 20 years. Okay. In this case, the premise of what you brought everybody in,

what's freedom of speech, what's anti-ESG, what's anti-DI, I don't care about all the other stuff. That was the core values and principles. I don't care about all the other things that you do, but the values and principles has to be the same. I don't care what religion she is, I don't care what religion he is, I don't care what ethnicity.

Philosophically, they're not on the same page. One believes fake news is only by others that are content creators, and he believes fake news can happen from mainstream media, because he exposed everybody with the Twitter files. One believes that Larry Fink and all these guys BlackRock and ESG, they're doing a good job for society because we need to really contribute by it.

And so the other guy's like, not for it. And now all of a sudden, you... I don't know. I don't know. So, to take it to another level, one's most likely an authoritarian, a collectivist, and the other is an individualist. So how does that one pan out as well? So, listen, again, the great thing about this show is

we debate topics and then we find that 3, 6, 12 months later who's right, who's wrong and we're so comfortable with that. Nobody hears, you know, shooting for 100% free throw ratio. As long as we're shooting 80% plus, we're okay with that. If this is the 20% that I miss, I'm very comfortable because I think he launched an absolute set of a guy so I think that they get divorced I think these two get divorced then then that's kind of what validates I think I think these two get divorced

yeah this is not America what's your over under I don't know because I it's this to me standpoint, as a tourist guide or a victim? He's going to fire the iron and fire Justin Trudeau. I think she lost six to 18 months. So I don't think she makes the over 18 months, and I think that Elon will tolerate her for the first six. But I might be wrong. Let's go to the next story here.

CNN, I want to talk about what's going on here with CNN. CNN boss, Crick Lick facing fury of criticism within the company over Trump's town hall. We haven't yet responded to the story because we've been gone for about a week. So we have to kind of touch the story here, what happened. So he's facing criticism after the company brought in

former president Donald Trump a platform to spread lies, keep in mind spread lies and his conspiracy theories during a town hall the decision was widely spread with criticized with one staffer stating I can't believe anyone thought this was a good idea CNN's own media owner all of all of our Darcy reported on the backlash following the town hall describing CNN and Chris Lick as facing a fury of criticism the network which has been trying to move away from its left leaning coverage was accused of putting moderator Caitlin Collins in a no-win situation

despite the criticism Chris Lick defended a town hall in Collins, performance stating that they obtained Trump's answers and made significant news. He dismissed suggestions that Collins did not push back, hard enough on Trump's claims and emphasized that the job is to get answers and hold the powerful accountable.

Lick also praised Collins stating that she exemplified what it means to be a world-class journalist and asked tough, fair, revealing questions. Tom, did Chris Lake do a good job? Did he make the right decision having Trump on and what are your thoughts with all these people losing their minds? Well, I don't like everything that's in Chris Lick's personal belief structure and platform, but he was brought into CNN to somehow bring it back

to a more balanced credibility with the viewer. That was his mandate. We have to remember what was the mandate? Chris, we're off the edge here. We gotta come back at least a little bit. You may be on a one to 10, we're a nine, but you gotta get us back to like a seven and you got to have something that gets us in a position where we can win some viewers back. And

he got rid of Don Lament and there's a bunch of things that happen. So I think what happened here is that he's trying to do that. And he was honestly, and by the way, you know, once about a time, there was an advertising comment that was made about CNN. And they said, man, our revenue every quarter is sucks since they canceled that cool Desert Storm show. And this goes back, no, this goes back to the war. This comes back to the Wolf Blitzer and the war. And remember that, CNN made bank on operation desert storm let's face it because they had something something to do right now they don't have anything to do all that what do they

have to do maybe trump maybe to santa's and hide for the president so what has happened here is christ like is done what he was told but it is so in dem. What's inside there that the, the, the natives have just come to his office calling for his head. And that's what happened. How could you? Because they see themselves, the media sees themselves as a liberal defender. They see themselves as the defender of that. They are basically like, the political activists. Yeah, they're defense lawyers for the president. When his sons in trouble, think about that. They are basically like... The political activists. Yeah, they're defense lawyers for the president, when his son's in trouble. Think about that. They're running to the microphone, putting the spin on the defense strategy for the president,

and it's rather than covering what is happening to the president. So, Chris Lick, they're supposed to do, and it blew up because there's a lot of people still there that are, as you say, political activists that haven't moved yet. Moving a network under a mandate is really, really hard. It's those damn people. And I think CNN is just a year ahead of Fox. I think Fox is going to be in the same position. I think this is the smartest thing that CNN's done in a long, long, long, long, long time.

And let me explain to you why I think it's the smartest thing that's done in a long time. Because when you're dealing in media and you're dealing with viewers, the problem is that when you do damage to the viewers, the damage to the viewers is cumulative. So if you start off with a media channel, you've got a hundred people watching you and you upset five of those hundred people and they leave. You've got 95 people watching you. And then you do damage again. You lose another five years. You've not got 90 people watching you. And so your market gets smaller and smaller because inevitably in media you're going to upset people. That's hard works. I think the only way to bring the 10 people that you've lost back and and more is to do

crazy shit that you ordinarily wouldn't do. And I think that that's what they did here. This is something that CNN wouldn't ordinarily do. I think this is something that brought a whole lot of years to CNN. And I'm going to be honest, I haven't watched CNN in years since since desert storm, the desert storm series. I haven't watched it, CNN in years. But now I just remembered who CNN were and I just remember there was a channel called CNN. And I think it was, I think they were the big winners here. I think they were the big winners in the night. And I think that we need more of the traditional media

companies that are falling to do extreme things like this, which they ordinarily wouldn't do to try and bring back the cumulative views that they've lost. Yeah, I think your objective is ratings. It's a win. But if your main priority is being objective, I think it was a loss because you're gouged. This is not Twitter.

This is not Twitter. This is not Twitter. This is not, Twitter is maybe objective. These guys are after many in sponsorship. Many in sponsorship comes off to viewers and CNN is dying. If you're dying, you do extreme things. Yeah, I get it. Well, all of mainstream media is dying.

All of legacy media is dying. Yeah, that's my point. If you're looking at, I think 95% of all cable shows, not, not, or all as far as most watch shows are on Fox. So if you're CNN, if you're Chris Lichten, you're looking at Fox dominate. And then all of a sudden they let go or whatever happens with Tucker Carlson and you're like, all right, our number one competitor is now drowning. A half their audience is basically, what's the average age of a fox?

Do you wear 65? And I might even be older than that. You're desperate. You need to do something. And what's the most desperate move you can do is bring on Donald Trump. You haven't had it on your air in five years almost. Or it was hard dealing with Danny.

So yeah, that would be a mighty next. But now all of a sudden, Rand, nor all of a sudden is Rand, nor all of a sudden is basically watching CNN again when you haven't watched there in years. And how many more Americans or international audience are doing the same thing? I haven't seen this tweet.

I haven't seen this tweet, but I agree with it. At the first line, CNN, I think there were two real winners that night. CNN and Trump. That was the big, and those are the two big winners for me on the not-of-a-debit. Both of them shocked me. Both of them shocked me. CNN shocked me because of what they did and how they owned what they did at the time, like at the time they they owned it. And the other one that shocked me was Trump.

You know, you know who is, you know why they're so scared. So think about why you're scared. You're never scared when somebody performs shitty. You're like, that was great. The guy was an idiot. He looked like a fool. He was like, the only reason your angry is because he crushed it, right?

Only reason, the audience, I can't believe the audience was clapping for him. How dare they clap? How dare they clap for the guy? You know you know that's exactly they got 3.3 million viewers okay most watch cable news network of the night 780,000 people in the critical 25 to 45 advertising demo employees are complaining in bitching you're in a media space you're supposed to get eyeballs that's what your job is. It's like Dana White not making a connerm a Gregor fight because Conner will promote proper 12 and all he'll do is increase the valuation of his drink who

gives a shit let him do it anyways. This is another reason why DEI and ESG scores cause CEOs of fortune 500 companies to make dumb decisions to please a crowd. I think Lick did a great job. Now if they fired a guy, Lick were hardening the seal right there. But if they fired a guy, if they fired a guy and he's sitting there saying, are you freaking kidding me? That's the job he's trying to do

and you wanna do something like this to him. This is an opportunity for CNN to sit there and write after Fox got a black guy. Facts, the Fox got crushed by what they did to Tucker, CNN's not winning. And Dominion. This is a phenomenal opportunity for Sienna. They should be celebrating, but Anderson Cooper said,

I understand some of you may never wanna watch this network ever again, and I understand why. But shouldn't we see the other side? Shouldn't we give people the opportunity to expose themselves like he just did? Shouldn't we do this? Just lead the court. But that is why food for thought. Do you think it could be a bud light moment? This is why I see and this is why I see it in his

on the street line. It's a cap of great capitalist moment. But you say I'm saying with a full of core sense of what he's saying. He says, okay, we're protesting, we're never watching you again. You're right. It could be. It very, very well could be a bud light moment where you know, the problem is you just said that you've just mentioned the whole problem. There's there's momentum inside an organization. And someone went against the momentum of the organization. The problem is the question is whether the jolt was enough to disrupt the momentum of

the organization inside of because if not, it's like a media or coming from the earth. And the direction is done because everyone's pushing down. And what he did was he tried to push them back up. And the problem is that Anderson Cooper apologizing, and, and, and, and, and, is just everybody pushing the, the, the, the, the, the, the media down back to hit the ground. You know what's the biggest difference between this and, uh, but Buttlight tried to cater to a 0.01% of population. Transgender drinking buttlight.

I don't know if I've ever seen, like that just doesn't make any sense. I'm trans and I drink buttlight. Yeah, that doesn't make any sense. CNN tried to market to 50% of America, which is not a bad strategy to see if they can get those viewers. This job of what Chris licked it, salute, good job for you. What, but like it, that was a good opportunity.

Yeah, and let me just reaffirm exactly what you're saying. So if you take mainstream media as an example, if you look at every single show, Late Night Show on ABC, NBC, CBS, you go Colbert, you go Fallen, you go Kimmel. They're getting, these are professional all-time comedians. They're getting freaking crushed by who? Greg Gutfeld, who has a read off a script to tell a joke, why? Because he has 50% of America just tuning into Late Night Fox,

whereas they're just cannibalizing each other. So essentially CNN just took a page out of the book of Fox and just say, all right, let's just cater to the largest market share. Whereas these guys just eat each other. And Greg Gutfeldt is not funny, is Colbert, Kimmel, any of these guys failing, but he's beating them. So I mean, just look at the numbers. I'll be interesting what happens to his ratings once Tucker's gone to see if like,

you know, the tide raises all boats, you see. But, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, but, butor-Broschen, Bevstock to hold a Siding A Crisis, follow-on, Budlights Marketing Campaign with Transgender Activist Dillamolvani, HSBC Carlos LeBoi, Express Concerns, about the brand's response and the significant drop in sales stating that the way this Bud Light crisis came about raises many questions. Sales are Bud Light and the US plummeted reaching 1% of the company's global volume in sales, stating, in the first three weeks of April, retail sales, store sales of Bud Light also experienced a sharp decline of 21.4% compared to the previous year. In contrast, Core's Light and Miller Light saw sales increase by almost 21% exactly. Same percentage. of the boy question the decision-making

and risk assessment of a b i's leadership that's an hyzer bush asking why did that's u.s. leadership under estimate the risk of pushback given the recent experience of other firms is a b hiring the best people to grow the brands uh... grow the brands engage risk that's the question so do you think

america how we are, we forgive, we move on, they're gonna do a, but, why is, errr, they're gonna do commercial, the props are gonna make you come back. And we're gonna be like, you know what, man, that's just, I'm reminiscing. I want to have a lot of fun, forget this guy, they fired her. Do you think we're forgiven, or do you think this is gonna be something that's gonna be around for a while? It's Buzz McKenzie, I gotta throw that one in there. Go on way, way back.

That's a great question. I've tried to think about this and I think over the next year, it's gonna be a big deal. I think over the long run, as far as the overall parent company, I don't know if it'll make that big of a difference because they have so many other brands. So many this in-bamb realize. People think that if they go from Bud Light over to XYZ, it might not be cool, is it something

else that they're doing damage, but they don't realize they're just going from one of their products to another of their products. I don't know that I'll have long-term consequences, but I could be wrong. I hope I'm wrong. Yeah, I think if you look at it as an individual brand, or if you look at it in the company, if you look at it as an individual brand,

this is the point. This is what matters now is what the competitors do with the opportunity. Because now there's weakness, now there's something for the taking. And it all depends on how the competitors respond. And I don't think the response isn't a weak or a month. I think as you said, the response is what happens in the next year. But I think Patrick's right. I think Americans are very forgiving. So they're forgiving until you break. And I don't think that I don't

think that's broken. I think people tend to forget. I mean, I think Pat's absolutely right. They're one good commercial away in about six to 12 months away. People would be like, ah, you know what, those butt like guys. What are we drinking again? But at the same time, like, the, the, there was two commercials that Dylan Mulvaney did that people that pissed people off. Number one was the March Madness commercial where basically he, she, it, the, them, whatever he is, couldn't define what March Madness was. He's like, I think it's something about it.

It was just so obnoxious. And the second one that pissed people off was the one in the bathtub. And it to Ranscred it about his capitalizing, Kors Light did a commercial of a dude just kind of sitting back in his bathtub. How many exactly how many dudes are just taking baths and they called it the best seat in the house. And he's watching a game kind of like a macho man watching a basketball game, you know, in his bath versus juxtapose that with her doing her little dance in the bathtub. But Bud Light has been some of the made some of the greatest commercials of all time

between the was up. Yeah. Yeah. Rock can't have. He can't handle it. I'm glad I know. But they completely missed the mark on this. Prove this. Well, we know who approved that it was that one lady

basically saying, listen, for forever, Bud Light was this sort of fratty, bro, type of brand. And we tried to move away from that, but it's like, that's your market. Do drink beer. Not she females that drink beer and bathtub. I could argue the other side too, because if I'm going out, let's say,

like as an example, when you came down to Medellin, I think I was drinking old-fashioned, and I had leveled-fashioned drinking for the last five years or so. But now I was turned on, I don't even know how, to Don Julio, Don Julio 70. the last five years were. But now I was turned on, I don't even know how to, Don Julio, Don Julio 70. And man, that is good.

And now I drink that when I go out. And the old fashions are just part of history. So maybe people that go from Bud Light to Quares Light will never ever go back and they have to rely on the younger people that are coming into drinking age, going to Bud Light. And that will definitely take some time. But it'll be very interesting to see how this plays out. Adam's more of a rosé guy.

He likes these are... Okay, if you're buying, I'm drinking. That's the kind of guy. These are just bad American beers, but for branding, American is forgiving. But I think that this one's gonna cling for a little bit, because the longer this trans thing and what's going on, the election is there. I think that doesn't help them on their effort to bounce back,

but there's so much heritage and so much brand equity, as it's called, with Bud Weiser as a whole. I think there's an opportunity for them to come back, but I do not think that this dialogue and all this controversy on trends is gonna help it go away anytime soon. Because you have to remember, you need the controversy to go away. And the longer the controversy has gone, the longer, you know, remember, once upon a time,

every, you know, if female football fan in America was upset with Brett Farves, he was sending images and stuff, and everybody was disappointed in me, wasn't our hero anymore. But the longer it was since that, and his wife had breast cancer and he got a divorce on her, there is a real schism that was there because what? People get on with that longer the controversy is away from you and the more you just show of who you are after that.

You're saying you wouldn't exchange a text with Brett Farve today, like you're over it. No, I will. I will. I will. I will crazy images. I crazy images that I want to take a look at. Well, Charles Barkley, who was talking to Ernie about it, and he said, I just got one thing to say, Brett, if you're going to do that, the one rule is, is gotta be ginormous.

And Charles Barkley said that. And it's like shaking his head, you know. So I think the longer I think the trans controversy has got to, you know, kind of normalize a little bit. Yeah. And then that will be a way from the brand and the brand can make a comeback. But it's a bonehead move. How would you feel right now going to power, going to a party and holding a bad light? Yes, this is what I was going to do. Well, let me tell you, I mean, right now today,

you're at a party, you're at a pub, you're at a nightclub, and somebody hands you a free bad light. Now is it an a can or is it an a, it's in a can? Because it's on draft, you're never going to know what it is. It's in a can. How do you feel? How do you feel? How do you feel?

People are getting fist fights when they're drinking cans of Bud Light and Pug. This is a serious thing. This is a very good point. I can give you this. This is the real world example. Tom, when you were drinking Bud Light and a can at the bar the other day, tell us what happened.

Hang on, I'll give you a real world example yesterday. Take my daughter, we go to, go now see Miami, Marlins, you know? And we got standard stadium food. And I noticed that right there, it was just like the pictures you see on social media that I was thinking, maybe they're making it up, they took the picture of the, you know, the, the Bud Light counter, nobody standing there. Maybe they took that when it just opened, nobody was there. It was legit. Nobody was standing there.

They were over there getting yingling and other beers that were there, but that little bud light stand, that poor person sitting there, the little blue shirt, and they weren't buying. Rand hit nail on the head. No dude wants to be at a stadium and a bud light line while he's trying to get the man's ass to squint. When's the last, how many guys were Adidas? Who were Adidas?

You're like Adidas. You're like, you're Adidas. Okay, you know, Adidas, Adidas, Adidas, Adolf, founder's name was Adolf. And you know what Adidas is linked to? What? You're not a Adidas. I'm not a Adidas.

I didn't know, if you can tell, not to, I didn't know that. That's what it's linked to. I thought it was two brothers. One of them was two. Well, but it was, it's linked to that. When you go to brothers, one of them was. Well, but it was linked to that. When you go to the dark history of Adidas, right? And then if St. Ghost would Volkswagen.

As a young man, he was the harder the young soul. Yeah, but the point is, I mean, if you were Adidas today and if you were Volkswagen today, Demi's eventually gonna drink Bud Light. Okay. The history tells us. That's I'm asking. How long? But the how long is, you know, it could be, you know, he said one year, I don't know, I don't

know, one to five years. And by the way, the way you do this the following, here's what you have to do it. Here's what you have to do. You have to fire the CEO immediately because you have to show everything rises and falls on leadership. This happened under his watch. Agreed. You fired a CEO, you fired a CMO, you fired a marketing department,

you finally replaced many immediately, then you make a statement saying we have to go to a different direction. And here's what we're doing. We brought expires from this place. His backgrounds got to be militaries, background because you know the current CEO used to be a CIA. You know, different. You got to bring a different kind of a guy that comes in and maybe you're going to say, I got this guy, he's more, boom, here's a new vision. This is what we're going to be going on and on the rest of the history people move on. So this happens, but for now, they're gonna take a hit. You know, when you look at the stock market curve and you look at the hardwind up up and then you see COVID.

Yeah. And then you see it goes up again. This is COVID. This is bad lights, black swan, but if you zoom out and a hundred years, you eventually just go back up. So what you're saying is, if in a week, you get an email, okay? Them asking you questions saying hey, we would like to sponsor your podcast. Would you take it a hundred thousand dollars?

Not a chance. Not a chance. How about a hundred thousand per cent? Not for sale a million an episode We will let you be the CMO to Linda the new CEO of Twitter. Would you take it? Not for sale. So you're not gonna take anything from anything from but right now but you will a year from now you were indeed is one of you with and were indeed is like a I would need to see I would need to see what they did lifetime supply with the issues with but life and a brand spanking wolf's wagon parked outside zero to say in 10 seconds I'm just I'm just thinking about I'm thinking of I'm thinking of a, I'm thinking of a practical, I'm thinking of a practical question. Can you imagine a guy, can you imagine any guy walking up to any bartender in any club? Can you imagine how he would order the bad light?

No, I was like, just, just whispering it out there. Well, I won't whisper this. I'll make a public announcement to the CEO of Bud Light. If you want to pay me double what you paid Dylan Mulvaney I'll show you a bathtub fucking right now. It's just a pay me. Let's go. And also value 10 is looking for value 10 is also looking for a headline sponsor and they are in talks with three you sit There is face space for a fourth Now because

Gold light. It's not a high end, but you know there might be if this was Hennessy maybe there's people that would defend Hennessy because that's a high embeverage but Bud Light is not a high embeverage to make Bud Light if you feed a gallon of water to a horse and put a bucket under the horse right that's how you make Bud Light so simple filtering process. It's an every man's beer. It's an every man's beer and then's what you're saying. It's an every man's beer. And then you want to get a great joke out.

So let's wrap it up. We got a couple guys here that know a thing or two about crypto. I want to wrap up with the story on blockchain and give both of your thoughts on it. So it's two stories. One, federal reserves, FETNOW will connect with metal blockchain. Okay. With Metal blockchain. And the other story's gonna be about what GoldenMicrosoft are doing with blockchain.

So first one, FedNow. The Fedore Reserve's upcoming Instant Payment Service FedNow will be integrated with Metal Blockchain, allowing Metal users to convert funds to stablecoin and vice versa using the FedNow system send-in-receive function. FedNow is set to launch in July and will enable round the clock near instant payments between banks, metal blockchain, developed by metal, liches, metal liches, offers compliance friendly options for decentralized finance,

DeFi, developers and emphasizes bank security, bank secrecy, act, compliance, et cetera, et cetera. And it was the same thing. I'll give you the other story as well. The other story is, Goldman Microsoft, CBO, and others team up to launch Blockchain's network. This is a Bloomberg story. Group of firms, including Goldman Sachs, Microsoft, the Lloyd CBO, global markets,

is teaming up to launch the Canton Network, a blockchain system aimed at linking institutional applications and promoting wider adoption of distributed ledger technology and financial markets. The network offers improved privacy and controls along with scalability and standard suitable for financial institutions. What are your thoughts on these two stories?

How do you think the market is going to respond to this? I think both of these stories are on Nothingburgers and I'll tell you why I'll go through it. So middle with all respect to them, none the company or the protocol since they launched back in the day, they launched and apparently Richard Branson was one of the investors and they've been looking for an identity since. And I think that this announcement would impress me a lot more if the Fed came out and the Fed said, Hey, we are now, we have picked this blockchain provider. So that's my response to the first story. I think it's an I think big. I think regarding the second story, by definition, blockchains are open public ledges, otherwise they just glorify databases.

And they need to be permissionless and not controlled by anyone, and that is why Bitcoin has been so successful. And that's why Ethereum is the second most successful, because it's permissionless, it's not owned by anyone, it's not controlled by anyone, it's not swayable by anyone. When you're talking about these companies, these are exactly the companies that blockchain is trying to move away from them being controlled. And so, you know, you can make as many announcements as you want,

but ultimately, let's look at who's going to be using your blockchain and what they're going to be using your blockchain for. Right now, the most used blockchain, between, I mean, you have two blockchains, which are really both being used, which are Bitcoin and Ethereum. And the one thing that makes them both that, is the fact that none of these corporations are able to control it, structure it, fund it, finance it. They can use it as equal players as if we use it. And that's the beauty of these things. So I think it's like, this is both of these stories for me on really big stories.

I think we'll hear about it here, and I don't think we'll ever hear about these stories again, to be honest. Yeah, I mean, I don't follow the crypto stuff, the Bitcoin stuff as much, but I just look at this from the standpoint of the central bank digital currency, which I think is what most people are really worried about right now when they read about Fed now. And Fed now is basically centralizing the settlement process in the clearinghouse that right now is done by a quasi free market process. So whenever you have centralization of something like that, I don't like it. But I also want to highlight something that he was saying in using the word ledger.

Because people need to realize that money or let's say currency outside of green pieces of paper really doesn't exist. All it is is a ledger system that says, hey, the bank owes you this much. And so it's like time. You really can't, all you can do is keep track of it, right? So my point here is when people here fed now, they get really freaked out about central bank digital currency, but they shouldn't, I want to make sure

that people who value privacy, freedom, liberty, and free market capitalism focus more so on the ledger and less on the currency, as far as the central bank digital currency, because if, and I think that we're going into this tough time like we talked about earlier, and I think one of the solutions that they're going to provide so the depositors don't take a haircut is to move your deposits to the Federal Reserve's ledger. Right? And when you move all of these deposits to the Fed's ledger, now you have that ledger centralized,

including the back end plumbing, which is Fed now. And that, by definition, gives you a central bank digital currency, regardless of what they call it. So right now, when I see Florida banning central bank digital currencies, or I see Ted Cruz in Texas doing the same thing, I think that's great that it's bringing attention, but I'm very concerned that the globally leader are using this as a diversionary tactic, because they're starting this central bank digital currency fire over here, while at the same time they're creating an environment where you could centralize that ledger and people

are so focused on that central bank digital currency, they wake up in six months and like how on earth do I have a social score? Because they don't realize that the fundamentals of a CBDC is moving all those deposits onto one ledger, more centralization, and that's the first thing that I think about when I see this article. After COVID, the scariest thing in the world from you is the central bank digital currency. Because I don't think people understand

the implications of what a central bank digital currency does. And I think for those people who are hearing about this for the first time or not that of faith with what it actually means. Right now, if you've got dollars in your hand, you can spend those dollars how you wish because there's always going to be a buyer or a takeer to take those dollars out of your hand. But when there's a central bank digital currency, the government can literally, because it's all digital, they can control where you spend and what you spend and they can catch you off at one point if

they own the central, the central hub of the ledger. If it's on one ledger. If it's on one ledger. If it's on one ledger. And that is what they're gearing up for. They're gearing up for central bank digital currency. I mean, let's just quickly compare central bank digital currency with what happened with COVID. So during COVID, they were, they were, we had to start home.

And there were curfews and you had to be at home past a certain time and you couldn't go in the morning. Now, one way to enforce that is to just say, hey guys, you can't leave and if you do leave, you better be part of the... It's essential workers. Essential workers. I was gonna say Gavin Newsom is our private partner.

Another way to do it, another way to do it is to just cut off your spending. And basically say to you, listen, you cannot spend money between 10 a.m. and 10 p.m. cannot spend money. Wherever you go, you will not be able to touch money under your bank account. That is a very, very, very scary scenario. Let me give you just a practical example. Say you have a baby and your baby needs diapers and you have a little emergency. You go to the store, you want to

get yourself a set of diapers, you walk into the store, you grab the diapers, you try and pay for the diapers. It's here. Sorry, the government said that you can't spend money between X and Y. Let's take it one step further. Government doesn't want you to eat red meat anymore. Just doesn't want you to eat too much red meat. You want to go and pay for your steak. I said, sorry, you've had a steak this month. That is the power that we give governments

if we get a central bank digital currency. And also, I would also add issuing credit based on narrative instead of merit. So as an example, if you take everything onto the one balance sheet, the Fed can't go bust. So they can issue loans. They don't need to be paid back. They could care less.

So you don't need to give them a credit score. So what happens is Adam goes down to the local bank. You got to talk to Jerome Palad to get your next mortgage. And they say, you know what, we heard what you said the other day. Pat, yeah, that ain't going to happen. Your social score is a negative 10 or whatever. But Dylan Mulvaney goes to Wells Fargo. And the throwing money at him and he's got a 500 credit score.

Why? Because he is part of that group that is part of that political narrative. You see that, that woke narrative. And that's why having that, all those deposits on the same ledger is so crucial for them to implement these or well-earned policies that all of us should be extremely concerned with. But the focus needs to be, not so much on the CBDC, but all of those deposits going onto one ledger. That's what people have to push back against.

And the good news here is that is currently illegal if you go to the feds website they say that it is illegal for them to hold accounts of individuals so we all need to be cognizant of that so if they try to change that law or if they try to circumvent that law that we can hold them accountable and that's what this has to be all about who would lead the charge in the united states for that to actually be implemented well Jerome Paul is the one that's been speaking about it. So Jerome Powell is the one that has mentioned that they were looking into a central bank digital currency.

By the way, if you think that this is very far away, it's not. Like in China, it's happening. In China, they have been dealing with central bank digital currencies for many, many years. And there is a, first of all, I think it might even be Chinese New Year, where the idea is that you give a red envelope, and inside the red envelope is a gift, and the gift is a certain, you know, whatever it is. And they actually did a campaign in China,

where they had a red envelope campaign, but with a CBDC. So people actually adopt a CBDC to see how much money that I've got. And that's an adoption tool. Once people get used to using the central bank digital currency, you've given the government the ultimate power. They already implemented a social credit score in China. Is that actually how?

They have social credit scores in China, but remember, it's not the central bank digital currency is not yet mass adopted. There is a list, I don't have the website, but there's some website that actually shows a list of all countries and how close or how far they are from being able to implement a digital currency, a central bank digital currency.

What's the top of the list? I think it's China and I think it's like African countries there, like I think Nigeria and I can check the tweet in a second. But for me, the scariest thing is if we get a central bank digital currency, you have got to make sure that as much of your money, on the day that that central bank digital currency is a reality, you got to get as much of your money into a neutral system as possible. But unfortunately, I think you're going to have a problem there as well that people really need to be cognizant.

First of all, you know, you never let a good crisis go to waste. So if we have a banking crisis, the FDIC comes in, they got $200 billion, okay, great, there's $18 trillion into deposits. So an easy solution is drone power writing in on the white horse and saying hey move your deposits from Bank of America over to the Fed and you'll never risk taking a haircut done deal right that's what the average Joe is going to say going to the point that he was making which is very very good is it's it's it's and people need to realize you can't program money because it doesn't exist just like you can't program time okay so doesn't exist, just like you can't program time.

So in order for them to get the data they need to know whether Pat ordered a tofu burger at the restaurant or he ordered a steak because that's going to go against his climate scores, carbon footprint score for the month, they have to have that detailed data. So I've been talking Robert Barnes, the famous lawyer about this quite a bit, and he thinks that they're going to have the IRS come in and to get your EIN number, you're going to have to use their point of sale software. And so whether you pay with Bitcoin or whatever, they still could attach that purchase to the algorithm that would still crank out that score you know I took some of my employees from Columbia to Disney World because that was on their bucket list right this weekend

When I was in Orlando and I I don't even know if you know that I was shocked I went in there I bought the ticket and you know in the old days you just buy the ticket you give it to the guy You kind of rip it and then you'd go through the little spindle or whatever, right? Now what they do is you buy the ticket. It's got a QR code on it. You go up to the spindle, you have to stop right there. They take a picture of you. Then you take your QR code, you scan it. Then you give them your fingerprint. See, now whether they're doing this intentionally or not, bottom lies, they're conditioning people to give their fingerprint wherever they go, right? And so the central planners, I think, are gonna take advantage of this and say,

hey, listen, this point of sale software that you're using in order for me to take your order at Chipotle, just go ahead and give me your fingerprint and you can pay with Bitcoin, Silver, Gold, dollars, I don't care. But then once it goes through your fingerprint, it goes to the IRS, it goes on. I don't know that.

I don't think that the world should be about tax evasion. And to be honest, like, no, no, no, tax evasion. No, what they're doing is they're doing that in order to get the detailed information as far as what you're buying. Because right now, if you go to Chipotle, your Wells Fargo statement shows you, you spent 20 bucks, but it doesn't show exactly what you bought. I don't even mind, to be honest, if they collect that information about me, like, you don't care if the central planners

and the authoritarians have that information on every single American. I don't care as long as I control my spend. But if you take that and you take away my ability to control my spend, that's where the pit, like for me, I don't mind, record whether I eat too many nachos or tacos or who the hell cares. As long as you don't control my spend,

as long as I have the right to do whatever I want with my money, but if you take that and you combine it with ownership of my money and telling me where I can spend, and next time I walk into Chipotle and I wanna buy something, it says, sorry, we have deemed for some reason that you can't buy this, that's the part that worries me. Yeah, but that's how they get,

that's how they collect data to determine whether or not you can buy that in the first one. Right. And you you sound like somebody that would want as a spokesperson because you know, for us, when we're not concerned about things like that, everything starts off with being sold as it's not a big deal. What's the big deal? You know, what's the big deal? You know, it's not a big deal. I'm not trying to do anything. And in all of a sense, like, well, I'm already doing it anyway. So next and next next, some people would even say, George, just started with your phone. You pick up your phone and seize your eyes. I phone a boom. Absolutely. You know, and then you're in it. And so, look, at the end of the day, CBDC is something that a lot of people are concerned with.

And it doesn't matter whether they're crypto or not crypto, they're concerned about it. And I think if there's ever been a time for us to stay more paranoid as a collective, today's the time to stay more paranoid than ever before. Enjoy your life, but stay paranoid because there are some people that have different motives than we do. But I think the average person understands

the implications of a CBDC I think to them it's just I think that when the CBDC comes They're gonna disguise it as a gift you want you but they won't call the CBDC because it's got two negative press You want your you want just gonna call it moving it onto the fed balance sheet that guy that's so paranoid about the CBDC It's gonna say great move my account to the fed balance sheet I don't care But as long as you don't do a CBDC, and he's going to wake up six months later,

he's going to have a social credit score. You want just stimulus check, no problem. Let's take the balance in your bank account. We'll top it up with $2,500, but you have to now move onto this new spaning system and close your account to JP Morgan. The Fed, thank you very much. Yeah, and to be clear, it could be JP Morgan's balance sheet.

It just has to be one, doesn't necessarily be the case. Thank you. You don't want to hear something interesting, just to prove that point about the ledger. I went back and did a video the other day on the Bank of Russia. It was called GAS Bank, and it was there from 1922 to 1991. And if you read everything it did, it's just like reading a top 10 of what the central planners could do with a central bank digital currency.

And I sit there and I ask my audience and I did this in the presentation, how could they do that? How could they manage credit? How could they know every single transaction that you're doing? How could they basically give you this credit score? They didn't even have computers, right?

Why? The reason they could implement that is because everything was on one ledger. And that bank, because it was the only bank in the whole country, the central bank was every single commercial bank and it couldn't go bust. Therefore, it could issue that credit based on narrative, basically everything that you should be concerned with about a central bank digital currency. And they didn't have a CBDC, but they had one ledger. That's the real devil in this story. Let's, we're at the end of the podcast. This was a great podcast. I think you guys got a

friend here, uh, funding gym. Yeah. See good. He's a very good friend of mine. $500. Uh, what do you call it? Uh, super chat. Uh, good friend for many years. To the funding chair on the show, looking forward to the highest, uh, uh, of stakes, movie release, true defy crypto rise, funding Jim Gearywoods. Did you want to put a shout out for the highest of stakes movie release? Oh, Geary's a good friend. He's down in Medellin. He's part of my mastermind group. He's a great guy. Are you a great guy? It is the next Pablo Escobar. I'm going to make a movement. A freedom movement.

I like it. I'm going to try to spread that, man. Keep doing it. You guys are doing a great job. Again, Ryan. And George, thanks for coming on. We're going to put the link below to your podcast. If you have to choose one or the two, which one would you rather do?

Gamin or the Rebel Capitalist? Rebel Capitalist. Okay. So let's put Rebel Capitalist at the top, as well as crypto banter. You guys can find him. It would be in the chat, in description, and in the comment section. This has been a blast.

I believe we're doing a podcast again tomorrow. Yes, we are. What time is tomorrow's podcast? 9 a.m. 9 a.m. Tomorrow we have Mike Tyson and Michael Francies in the house at 9 a.m. You just dropped that right?

Mike and Mike. Just no big deal. Mike and Mike tomorrow. Yeah, we're going to do our best. Not to get knocked out by Mike Tyson tomorrow. It no big deal. Mike and Mike tomorrow. Tomorrow. We're going to do our best not to get knocked out by Mike Tyson tomorrow. It's going to be fun. It's going to be fun. We will see you guys tomorrow morning. Gentlemen, thank you again for coming up.

I'm traveling. Safe travels back to South Africa and Medean. Thank you. Take care everybody. Bye bye bye.