TFTC: A Bitcoin Podcast - #437: History Doesn't Rhyme, It Repeats with Dave Collum & Rudy Havenstein

Episode Date: July 25, 2023

Marty sits down with Dave Collum and Rudy Havenstein and tries to keep Marty Jones under control. Dave on Twitter: https://twitter.com/DavidBCollum Rudy on Twitter: https://twitter.com/RudyHavenstein 5:30 - Bants 11:41 - Background 27:20 - Banking crisis lull 33:12 - Media collapse and Twitter 48:43 - Evil rulers 1:15:10 - Corporate press and those they hate 1:22:35 - Younger generations 1:30:21 - Forth turning and inflation 1:58:20 - CBDCs vs Bitcoin 2:03:49 - Final words from Rudy 2:05:39 - Rabbit holes on rabbit holes Shoutout to our sponsors: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠River⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠CrowdHealth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Bitcoin Talent Co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TFTC Merch is Available: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Shop Now⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the TFTC Movement: Main ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Clips ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YT Channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow Marty Bent: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Podcast⁠⁠⁠⁠

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So it's all acting like safe haven. I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor. I mean, that's part of the bull case for Bitcoin. If you're not paying attention, you probably should be. go ahead start this fucker we're wasting hugely important stuff we're recording as you take a sip of milk uh i guess if that's as bad as it gets you got off easy marty well i guess i mean we'll just start and i mean this is i was telling rudy dave before you hopped on this

dream come true for me uh we're sitting down with dave column and rudy havenstein after listening i always say havenstein but you can call it you can you can just say whatever you want i haven't seen or haven't seen i think it's havenstein okay but it's a fucking name so you could call it harvinstein for all i care that's fine just rudy's fine yeah or sir to you right right or hey you yeah personally uh i'm a havenstein maximalist myself it's what your name has been in my mind for the last 10 years. Haven't seen Hodler, huh?

Yeah. Yeah. I mean, I was telling Rudy, I've been following him for 10 years now and he was formative in my development

in terms of how to grasp what's going on in the world of central banks and the broader economy. I was a young 22-year-old analyst

at that point. Where were you? Where were you? I was in Chicago working at a managed futures fund we were fun to fund that index commodity trading advisors and so i had to be able to write about central bank tea leaves and their policy decisions and i was very confused because none of it made sense to me i found this crazy pseudo nim on twitter named rudy habenstein it was speaking a lot of sense and i hope you didn't quote me in any of your

your newsletters back then they would have fired you or any of your reports no it was it was strictly uh no no um party line no party line it was strict and like here's what happened here's how the markets moved oh there you go yeah but dave i know i mean you've been dming me for years about like rudy like hey you're ever going to get him on and then you randomly tweeted me at like 1 a.m. a couple nights ago or like check your DMs and and here we are yeah right well Rudy and I couldn't figure out who was in charge of setting it up we were probably the simplest chore anyone ever had to do and neither of us but we thought the other guy was going to set it up and to your credit um I provided a list of three names out of quite quite a few that I went through actually and

rudy chose you out of the three and so so you came right to the top of the list um so rudy and i were scheming said which which young hodler um podcaster's career can we destroy in two and a half hours yeah i was telling marty that uh you know i i really liked his uh his interview he did with whitney webb so that was you know i'm a super you saved about whitney and i'm a super whitney fan i just had it whitney just 10 minutes ago actually oh good yeah tell her i wish her well um this is the first time i'm talking to this first time i'm talking to dave by the way so ever hi dave hi we should go i would like to go back down memory lane a little bit here i told marty that um we must have connected back when we were both sitting there at 300 followers a pop or

something yeah 2013 i i went and looked it was probably like summer 2013. and and you know i remember thinking oh this guy's quirky and um and then i think there was one day when it just caught me when you made reference to something that that you said was not fake and you said it's not like the loch ness monster or north dakota i go that guy's up right that's a funny joke you just yeah where did where did that come from right and and so i started watching much more carefully and then one point i noticed you saw my tweets and i didn't know how you were keeping track of twitter because it was getting pretty clogged and you said i'll list i go oh oh list i didn't know about lists and so i set up lists and then um and then uh there were some other

things along the way that kind of we we kind of been following each other along it's been it's you know it's funny you have friends on twitter that you've never talked to and yet they're still friends right marty you and i are friends rudy and i are right right yeah i agree way better than some real friends you know the kind that you you know go to dinner with and get an argument over trump or biden tip over the table and stomp out right right the real kind and um you may recall rudy that when cove had showed up i uh i sent you my password yes you thought you were gonna die well i said if i die i didn't know but i said if i die i want you to take my password and tweet from heaven yeah and i i want you to i want you to have a party with this one right and you were

uneasy with the idea and i said this is my dying wish right well fortunate and i remember fortunately that i was uncomfortable with it unfortunately it uh it never came to pass so not yet i'm working on it this bladder stone of mine is is trying to take me down to the stud so well that could be a separate podcast to cover the bladder stone now we can video on that one we've covered the bladder so many times on this show all right yes that long has isn't it it's that long i'm getting it taken out there it's like um it's like an armageddon we send in bruce willis and uh and um and ben affleck be gonna blast that sucker out of there i'm done on the 23rd of august it hurts like a son of a bitch yeah no i mean i guess they had context this

conversation maybe send us down the road yeah right i mean again like i want to echo what i said earlier which is like i view you two i mean i didn't know how old you are rudy until probably like in recent years i got a better grasp of how much experience you have personally in markets and obviously you're pretending to be the rights bank central banker during the weimar age so you have context of history and for me you two and somebody's young in my 30s getting older children now but uh throughout my 20s like you guys to me were like the gray beards who understand how up the world is excuse my language and we're trying to pass it on aren't you you're just you're going for the pot i can see it in your eye you got the twinkle no i mean

in the most most f-bombs in one podcast you're going for it well i don't know what dave was trying to do 10 years ago but as i if anyone an adult yeah yeah if that i i this is just my second podcast i did the one with grant williams and um stephanie palm boy that was uh i you know i've been following grant for as long as you did 13 years i think i was or 10 years since 2013 but But, yeah, I guess in 2013, I don't know, something was going on, as usual, with the Federal Reserve. And I just wanted to come on and, like, I figured, oh, I can joke around, I can vent, and I can try and teach people about the Federal Reserve and what it's doing to this country. And I've been watching, like I said, since the late 90s, the Fed, after Fleckenstein turned me on to them. and um and i i've been doing this in emails for years to friends uh you know just doing market

stuff although i'm not much of a trader but i mean just just stuff like mark your macro stuff and also what's going on with the fed because most people don't know about that and you know back then you know people's i started with zero fault did he just freeze up he did back sorry there you are next sorry i don't know what happened i think the cia started you know there yeah i don't know whatever but anyway where were you before you must have been at a chat board of some kind you must have been someplace because you're a very social animal so you must have been spewing no it was all emails from like i mean i did some of it dates back to the 90s but um definitely was doing a daily one since about 2009 just a couple hundred for well i guess it was 150 or

so people and um you know for free and everything and some people liked it and some people you know didn't want to read it because you know they don't they're busy they don't want to know or they don't a lot of people don't want to know and and so um anyway that was just my whole point and twitter's a great uh format for me because you know it's just boom boom boom but as i said on grant's podcast you know i just didn't want to be a guy that goes out and says you know the fed sucks you know with a funny picture i want to be look what the fed's doing here's a chart of the last 30 years you know look look at how the middle class is doing look at how the top one percent is doing um and i and so i think that gave me uh credibility and as i said also i had a lot of

you know when i had like 200 followers 50 followers i had some prominent um prominent you know mainstream fin twit guys that came after me like look this idiot and i fought them back off and now they either if they haven't blocked me they don't bother me anymore because um you know if you're going to come for me like that you better come you know loaded for bear because i can i know my stuff now i've been studying this enough and uh you know i had imf imf guys and you know ex-central bank guys who get mad at me it's like i don't care because i found out that there's a lot of people that that aren't like you know part of the elites and and you know like i always say about inflation you know i like it with some very smart people on twitter that think

inflation is like a really good thing and we need some and i've ever heard one guy that's very smart we call those people stupid yeah but i always say it yeah you know all right let's go to a supermarket parking lot and have this debate you know you might win it on fintwit where everyone wants zerp and qe for infinity because they're part of the one percent that own all those stocks and bonds and houses that your kids can't own anymore so anyway i just got a little fired up and angry as i can see i'm fired up right now it's like someone got a pen or something what oh is that me i'm clicking the pen yeah i'll put the pen down um anyway uh so that was the point to educate and then i think it's two and a half hours i'll be just drooling you know no i'm sorry

I just I think it's people, more people are starting to wake up, even though it's just a very small percentage. So I actually somehow I threw the pen away. Love a pen jar. I threw the pen away. I'll put my F-bombs against your pen, pen flicks. I was hanging out at Doug Nolan's chat board from I think it was the late 90s, although it's getting very vague now. so uh and it turns out it was doug who ran it um working for david tice and and and what i didn't know at the time is there were a lot of prominent people there and and there was about

250 of us and the rest of the world just thought buying you know buying global crossing was the thing to do and um and i remember feeling insane being at that board and going you know there's there's 200 of us who think the world's up and the rest of them seem to think it's just a wonderful place to be and and so yeah i was probably there reading the comments i mean the yahoo boards the uh all the some of the old stock chart boards from the 90s on um but i never commented until until 10 years ago never posted anything so but i was reading i mean like you know i was aware of michael burry's stuff and all that and but i wasn't responding to him i was just sort of soaking it all in and uh and you're right i mean it it's nice too it's nice too to come

i know your our audio here isn't as isn't as high tech as grant and stephanie so just i'm just kidding but uh because we keep it's a little bit of overlap but anyway or maybe it's just my setup but um yeah anyway go ahead i'm sorry just rambling that pen no that's my hand on the fifth i gotta just tie i gotta like tape my hands to the chair or something but well i was gonna interject like how much is like twitter as a tool social media more broadly really affected the discourse around some of these topics all right it's incredible uh because like you wouldn't believe some of the followers that that dave and i have for example i'm sure you do too they're just ridiculous these are people i've um you know i've been watching since

the 80s or 90s finance guys you know like prominent people and uh that i never would have I mean, I never would have talked to them in a million years. And, and, uh, you know, it's kind of like you start putting some things out and it took a while on Twitter to find, you know, my, my voice, you know, at first I didn't know, am I going to do an impersonation of some guy from 1857 or, you know, born, but, uh, but that's like, I find I hit the ground running. I'm very comfortable now. I know who I am and people know who I am. And, uh,

but yeah, so, uh, it's been a great, I get in contact with all sorts of people. I never would have met Dave column or you without, without it. am i gonna write you a letter and you're like who's this guy but like i said before the podcast you did you mentioned jack dorsey do you remember that day because you sent me you sent me a dm and said we're about to get kicked off twitter and i said go check and see who he just followed and there was rudy and i yeah i go i knew why he did because what had happened is i was feeling sort of teary-eyed now but actually i always had a pretty fond spot in my heart for jack dorsey for

some reason yes i agree he was a victim of the evils of silicon valley and that his dream got squashed like you know melanie singing look what they've done to my song um and i went out there and said look i people about the the darkness of twitter and i said i think it's a great experience i have nothing but joy and fun and and uh and and then i made a very flattering statement about you being my favorite tweet twitter feed and and then it was that later that day that you and i think someone must have said hey jack there's someone out there who didn't shit on you right jack oh i gotta follow those guys right so i think that's actually what did it yeah he followed you first and then i think i was right after you and yeah i think he just had to click

i always like the guy because i i think i watched the joe rogan thing he did with vajaya and uh is that a real name or is that a nickname by some pornographic guy you know i'm not gonna go there i'm glad she's gone um she's off he's awful yeah she is and uh but i thought jack was sort of sincere and um who's he talking to michael malice or something in that maybe it was mike malice and not rogan yeah so i think it was yeah and i thought they were yeah maybe it was malice and not rogan that did the podcast and and i thought that malice on rogan oh that could have been that could have been too yeah i don't subscribe to spotify so i rarely see rogan anymore so it was tim pool i'm sorry i get these guys confused sorry tim pool tim went at him tim

went at him hard yeah he did he did a good job and um and jack jack uh only replied to me one time ever our only interaction and that was when he tweeted something like um hyperinflation is coming you know it's it's on you know it's something like that hyperflation is coming and i said be i said be careful what you wish for it's the worst possible outcome for most people and he said uh he replied said i'm not wishing for it nor do i desire it so that was it and i you know i saw you responding to that actually i didn't and one thing he's ever saying to me my big huge connection besides the uh sweet meteor of death um and and uh and uh to tanya mcgrath besides those two, I picked up Rogan. And I'm told my resume sitting on Rogan's desk,

on Rogan's talent workouts desk. The problem is Rogan's star rose a lot faster than mine. So there's a point in his life where I think I could have gotten on. But now he's bringing in future kings and queens and presidents and shit like that. Yeah, I don't follow. I really, I've probably seen just less than 10 of his podcasts in my life. But is he, does he like delete some of his old? Was that true that when he went to Spotify, he deleted some of his more controversial ones or something? I don't know. Everybody kind of snows out at a certain point. Yeah, he deleted a few episodes, I believe. Yeah, yeah. But then again. To cover up a problem? Really? Huh?

To cover up a problem? Well, like maybe someone was too controversial for, you know, something. I mean, nothing's too controversial for me or you, but, you know, we're not advertisers. After Vagia, what is it, right? Yeah, well, that was interesting. Yeah. Well, then the next one who happened to be an ex-VP at J.P. Morgan for, what was her name? The next Twitter trust and safety, remember?

I got banned for three months. And then she even, someone asked, why did you ban this guy? And she said, I mean, I could find the tweets, but she basically said, oh, he's no, he's beyond. He's, you know, he has zero strikes. He's gone. He's done. And then I sent a final appeal. This is funny about Jack. So, you know, if you get permanently suspended, I've been permanently suspended four times. Right. So it doesn't seem to stick. Thank God. But and I did an appeal. An appeal is just you fill out a thing why you don't think you should be.

And twice I'd been rejected on my appeal. And so I think Lynn Alden had made a tweet that was very widely spread in favor of Leland letting me back on. And so I figured I'll appeal one more time. And so I did. And I threw in at the end like as an afterthought, oh, by the way, just ask Jack Dorsey about me. He follows me. And the next day I got unbanned. I have no idea if there was a connection or not.

But also the next day, the Twitter trust and safety lady who had been a VP at J.P. Morgan for seven years was let go. She left the next day. so i think his name was irma emma something like that but that was interesting so i've been booted i think the same number of times but you get big boots minor little backs across the face right well i've had those too but four times uh for several three or four times for several months now i mine are like mine were like 24 hours seven days things like that and i think it was when i And the one that got the longest one is, I think, when I referred to Fauci as a skanky whore, and that somehow triggered it. Yeah, see, what's – I mean, so what?

I mean, that's not a threat of violence or anything. No, he is a skanky whore, so it's a statement of fact. I can't prove he's not. I could prove he is. Yeah, all right. well i did i did post just uh one of the tweets was a picture of sydney gottlieb saying gosh i'm gonna really miss fauci so you might like that one that's a funny one by the way have you ever wondered if sydney gottlieb is related to scott gottlieb you ever

it has i have considered but it's a common name fairly so who knows yeah i couldn't find i went looking for it yeah and i couldn't well that's that's a pet peeve too because cnbc every day and go, here is Pfizer board member and former, oh no, no, they'll say, here's former FDA commissioner, Scott Gottlieb. And I'm always yelling at the TV, you mean, you know, you mean current Pfizer board member. They don't mention that. They just say ex, former FDA commissioner. He's on Pfizer's board. Yeah, I know. I know. It's awful. But I'm suffering total COVID fatigue at this point. So once in a while I'll see something that catches my eye, but you know, another stat showing that the deaths are up 50% in some country unless there was one of the COVID

boys, Geert van den Bosch, came out and did his last announcement. He said, this is my last public statement on COVID. And then he says, you're all going to die in the fall. It's a winter of death. Yeah. And I'm going, okay, so that's a, put a timestamp on it. That's good. So, so I hope I'm around long enough to see the cascading failure begin, but. Oh, you're talking about from the vaccine. Yeah. Yeah. I hope not. I did. Yeah. I'm kind of not rooting for that one either, but since I'm triple fab, that would be not good. Ed Dowd made the case a few weeks ago. It's beginning to show up in the disability numbers.

Oh, I think it's Bickley, though. I think it's Bickley there. Are they real disabilities or people don't want to work? That's a hard question to dive into. I think disabilities are up something like close to 40% from April 2020. Yeah, which correlates precisely with purchase of new hot tubs. Yes. Yeah. That exhausts me now at this point.

i wrote i probably wrote 200 pages we don't need to talk about that at all i'm done with it too no i'm just going down memory lane oh yeah well it feels like we're in this like low period where the banking crisis from earlier this year is somewhat settled down um inflation is measured by cpi it's getting closer to the next target um yeah it just seems like they're buying time to brush all this stuff under the rug because it's a quiz because your encyclopedic memory of the olden days was staggering to me but i read a book this year on uh on the the florida real estate boom yeah which you probably read yeah the the uh the bank started failing in 1925. yeah they just laughed it off oh that's the florida guys right they're just a bunch of yahoos and they went off

the deep end and that's sort of just like you know the bear stearns internal hedge funds who cares right and uh and then you know and then by by within a few years the southern region of the us was getting pummeled with bank failures and then 12 000 bank failures later we were through the tough spot yep the the book i read was called on that that covered that i haven't read the new one i actually looked for it i didn't get it and then i forgot about it but there's one called only yesterday by frederick lewis allen which people can probably get on archive.org and it covers the in it's a great book it's sort of like a contemporary history of the time that was written in the 30s and then he wrote one called since yesterday that was about the

it was about the 30s and they're both great books um and uh he talks about the florida bubble in the 20s and uh it's in fact what i i was posting um clips from that book back 10 years ago because there were so many passages in that book about the 20s and the 30s that you could take the whole paragraph and put it, you know, today. And if you didn't tell people, they'd think that it's, you know, I mean, it was from today. The Fed was messing with markets back then, too. And there was a lot of similarities in the bubbles and manias. You know, there's nothing new under the sun. I like to say, you know, the old saying is history doesn't repeat, but it rhymes. And I've number of times i said no it repeats exactly so that's my that's my joke it repeats exactly

it's a mobius strip um and did you read here's one here's one that i had to dig out of the dusty archives because it was not in print called banking and business cycle by phillips mcmanus and someone else i think walk and then what happened is i read it and i photocopied it because i said it i need to have a copy of this thing this is amazing so i turns out i sent a a photocopy of off to ben steele at the cfr yeah and he uh said thanks and then and then about three months later said oh my god that was an amazing book i've highlighted you know three quarters of it and and i think it helped him write the the um the the battle of bretton woods which I've been told, I haven't seen a hard copy of it.

Do you have the Battle of Bretton Woods? No. Do you have the book? Oh, I probably do. Let me look. I was just looking. I have that book, Banking and the Business Cital, 1937. Cycle.

They reprinted it. So this is a new edition then. I think Rockwell, Lou Rockwell, those guys or something, printed it again. It's just a brilliant treatise of the 30s. Turns out Battle of Bretton Woods, I'm told I'm in the acknowledgement section, which is a high point for me because i copy edited the book for him um which i like to do because then i read it really carefully right i really bear down and i can justify reading it very methodically if i'm copy editing it so so if i get a good book i did it for another person too

and he didn't want the copy of this i'm going you're a douchebag i'm doing you a big ass favor and you just wanted me to say how wonderful your book is you don't want the copy edits that's nice so and i won't name them because it seems like a decent guy most of the time but i picked up dick weed i didn't i didn't like what i was seeing yeah i have i have a lot of i get a lot of books off of i'll be reading something that's the problem i have with reading a book from cover to cover because i'll read through 100 pages and then they'll talk about some book or some topic and then i'll go oh that sounds interesting so i'll go find it and then i'll start reading that book and then i'll be halfway through that and i'll go oh this is an interesting topic and that's

problem it's everything is like a shiny butterfly you know flying by uh but i but i do like and i always go to original sources i always try to and so i do have a copy of that business cycle book and i have the 30 1937 version which in pdf which i which i'm sure i got off archive.org and so a lot of times um you know taylor's got a great quote about uh unread books and the library of unread books the unread library yeah and that's kind of what i have i mean i have a huge reference library of both physical books and online books and uh to be honest the number i haven't read a lot of them cover to cover but i've certainly gone found the chunks related them to other chunks you know because all these things history just keeps repeating in so many ways and

and that's what i'm i'd rather you know it's like instead of being like i'm an expert you know a mile deep in one subject it's i'd rather be you know be aware of a wide variety of subjects you know the old classic liberal arts type uh education before the liberal arts education went insane you know so um yeah so archive.org is a great source anything like pre-1950 you can find there for free usually uh or a lot of books well we have a library so i can go do that but um i have a real library too but yeah no i mean we have a library library oh at cornell yeah you're yeah yeah yeah I'm trying to figure out how to fuck up this computer. I'm moving around trying to get the bladder stone to cooperate.

One of the disadvantages you have as being anonymous is people don't reach out to you. Now, it's an advantage, too. What do you mean? I get emails, and I respond. Well, you do now. Right? The sub stack really makes a huge difference. But a lot of people reach out and say, oh, you ought to take a look at this.

for years i've been sort of me so i cold called grant williams for example years ago it was an email and i just sent him and we got kite and then one day i drove down to new york city and spent the afternoon with him and simon mckaylovick just chatting just chatting it was so much fun and uh and and and so the digital world is rolling amazing this amazing connectivity that um that's addicting right i mean it's potentially grants like you i mean i uh we found each other 10 at least 10 years ago and uh again here's a guy i never would have known in a million years if not for uh the twitter and um and i found what what i liked about him he was with i think he was with real vision back then right so he was uh doing interviews and the one thing i

noticed about him is that he um he was very i mean he became you know obviously a guest in his own right but he would um when he interviewed people and he had some just fantastic guests uh uh he would let him speak you know he would just sit there he knew when to shut up you know which you and i have a problem with but but but uh but grant's very good at it and uh so that was a fun podcast to start off with with him you know the only person i've i've ever talked to um before besides grant and now you guys and palm boy is um is mark cojones uh so i'll give a shout out to mark mark over the years reached out to me i think at first he wasn't quite sure what to make of me but then he he was been very kind and uh uh he actually kept he had sent his number to me over

the years call me up i'm gonna you know call me up and i never called him because i you know i had a policy of just not really uh i would email back or something but i never text back but i would never really call so one day i called i called um mark uh oh when i was banned like march april may around this year and uh because i figured i'm never going back it's like my fourth permanent band and i actually you know talked to him i said hey mark this is rudy havenstein he's like hey hey rudy you know and so we just talked for a bit so um anyway i just want to give a shout out that's you know there's only a handful of people i've actually spoken to physically so he's been noticeably nice to me too i mean that's really kind of a funny small world but

i think he's one of these guys who who if you can get above his bar then he'll take the bullet for you yeah he's a great great guy he's been very very kind to me and uh he had some kind words to say when i was uh banned and um and i said she was down i sensed you were really so i felt so bad i i was in a funk watching my twitter feed without you there and you know and stuff but i felt really bad during that period and you know i i eventually healed then you eventually showed back up you know But it's like losing a dog or something. And and I sense that you're going because you and Twitter become an important part of your existence. And it's it's so interactive. And all of a sudden, it's like someone putting duct tape on your mouth. And well, that's why Substack was a great fit. And and to compliment them, too.

They were very nice. They you know, I was in contact with some of their technical support people early on when they were having some, you know, growing pains. And, yeah, I got no complaints and I fully expect to keep posting there because it's great for long form. You know, I saw Elon sent something out the other day saying, hey, we're going to do long form now. And I said, yeah, it's called Substack. You know, I will say that and Substack makes it very easy. And, yeah, I never thought Twitter would be worse under Elon, you know, because of Ajaya and Paraga and, you know, those guys are just terrible with the censorship. And that censorship has gone away. Like, you can post something like, you know, hey, I think, you know, the COVID vaccine was not a good thing.

And you're not insta-banned like you used to. But this whole $8 thing and the whole rate-limited thing and the whole, I mean, you know, it's like he should pay me $8. a month it's like i'm not going to pay me a dollar but you know the main reason i'm not going to pay a dollar a month because i want to keep changing my my name you know i do that all the time you know my you know whatever comment is after my name on on the account so i guess you can't do that if you have twitter blue so yeah like right now right now it's sunscreen and wood chips or something you know so it's whatever i feel like right now i'm larry o'donnell sucks oh i saw that yeah yeah he does he does though that's objectively true it's salty balls i mean he's one of the most

wretched media guys out there he's just did you ever see the clip of him where his crew like was screwing up with the audio or something and he was oh he lost it it was hilarious i got to find that and dig it up because i love seeing these prima donnas you know brought down a level or two but but it's gotten so so getting in sort of into the meat of the modern era um what his our biggest problem actually i think our very biggest problem is the collapse of the media And the role he used to play to call out the bad guys. Now, I've been reading a number of books, and we're going to talk hopefully about one of them that I didn't know you had read. And you commented, and I remember I asked you, I said, did you read that?

Or did you just go find the quote? And you said, oh, yeah, it's a good book. But I've read books, and then all of a sudden you find out that back in the days when Woodward and Bernstein were outing Nixon and stuff, What they didn't tell you is that before Woodward was a journalist, he was CIA. Right. Yeah. There's a lot of that. He came into journalism out of nowhere. And I go, that was happening way back then, really? Yes. And so I didn't know that. And so I didn't know.

But now journalism is completely and utterly collapsed, except for the substacks and the rumbles. on the right yeah you've got cia you've got cia and and dia former directors now as as they show up on cnn and msnbc as commentators so they don't even need to hire journalists anymore they just come on themselves and tell you uh the party line yeah brennan would never lie yeah i mean that pieces of shit these guys are i mean that's the part of you I did it on Saturday with Cedric. My first half hour, I was just fucking mad. I just finished reading part of the Franklin scandal.

I was just fucking mad. I was shocked you'd read it because I didn't know you went into that shit. Oh, I got a whole thread on that. I mean, it goes back years and years. That's the worst thing about if you get banned from Twitter, then nobody can see all your threads. And even if you have your archive, you lose all you might be able to find your individual tweets but you can't find the threads

have to be all pieced together forensically so it's a real pain in the ass really screws it screws everything up so some of those threads i mean people like dude you have this thread that goes on for like 200 and it goes back like eight years or something well yeah that's that's a good one you know like like i said i posted today again a retweet which most of my stuff now just retweets i need ai just to i could just go to on desert island now and just ai would retweet my good stuff but uh uh the sole purpose of the account now is is other than to amuse me is as a resource for future historians and that's exactly it it's to amuse me and because there's so much history in my account i mean i do screen grabs of you know hell is coming with with bill

ackman and and i have screen grabs of you know the market being down 12 percent in a day and things like that and screen grabs of all the insanity over the last 10 years and uh i don't think those exist really and much of it doesn't exist anywhere else so you store it independently because you your retrieval skills are off the chart it's all keywords like you just search by keyword in advanced twitter search like if i'm looking for a picture of you know yell and i just do you know yell and asterisk i mean i'm in a dastardly bag search ugly old bag and yeah no i put some keywords and as for as for finding old old uh posts it's just keywords and um so i will search you know from you know you can search from rudy havenstein from your handle so yeah so if i

want to oh gosh i remember this thing i posted about you know rob bob rubin and uh and jeff epstein so i'll you know i'll do a search for ruben epstein and then it may or may not come up because twitter search is deteriorated but the archive if you download your archive and use that to search is much better than the actual online. Yeah. I don't know how to download the archive, but what I've noticed is there seem to be times where my Twitter has stepped down. Now, I don't know about you, but for me, Twitter was probably a maximized experience when I had, I don't know, 400 followers and, and, and some percentage of them were really interesting. My first Twitter follower ever was was was Jim Rickards.

Yeah. And and it was funny because I showed up on Twitter and I said I went and found Rickards. I went and found Chris Whalen. Oh, yeah. And the day the day that I went there, Jim Rickards was in a flame throwing fight with Rubini. And they were basically picking on each other's mother's asses and stuff. I mean, they were really going at it. And I wrote, you know, Jim came here to find you and Chris wore with Rubini. Very strange medium. Right. That was my first tweet, I think. Just very strange medium here. And he put out this obsequious sounding tweet that I didn't understand at the time. But I now realize in retrospect, he was saying, follow this guy. But he he said this very flattering thing.

look forward to all your ideas i'm going well jim i'm just telling you you know and but all of a sudden i had enough followers to initiate the program and that's how i remember starting um there are days where i think i should just log off but um you know and then i open up my computer and start tweeting so there's that um yeah well mine's mostly um producing you know jokes and and real content and so um i don't i haven't noticed the same difference as you because you probably used to engage with people and have long conversations and stuff like on dms i never dm i mean i'll dm like you and marty to like okay what time you want to do this but i'm not on there going back and forth on dms i mean it's a way of keystrokes well and i don't i don't really

Other than just like, I'll like, you know, I use likes as like, as I got your, I acknowledge that you sent this to me. It's not necessarily an endorsement or something, but people, and that's the other thing I think a lot of what I did was I would actually respond to people, you know, hey, you know, do you, where did you get that chart? Or what books did you get that from? And I'll actually respond. And people, I've had people like, oh, you know, because they have like four followers and they're like this guy. Oh, I used to have four followers too. So, I mean, I'm not a snob like that, but it's like, I've always tried to be, uh, treat people, whether they're, um, you know, Chris Whalen or whether they're just some guy with an egg, uh, you know, um, nicely until, until proven otherwise, you know, that's the thing that, you know, about the, uh, race relations or whatever. I've had a tweet one time.

Here's your, here's your, um, here's your bias, anti-bias, you know, tweet, uh, be nice to everybody unless they give you a good reason not to be in your skin color is not a good reason, you know? So I'm nice to everybody, and I get very few, considering 100,000 people, I get very few, you know, wackos, and they don't do well with me because usually I toy with them for a bit, and then they're gone. But, yeah, so I don't get a lot of the grief. I try not to block because part of it, I don't want to give them the satisfaction. Yeah, I think muting's worse. Muting, I mute. It's worse because then they're screaming at you, and they don't know that you don't see it. Right.

One day I was having an exchange with this woman named Jessica Vaughn, who's hundreds of thousands of followers, and she's hotter than a pistol, some ex Miss USA pageant winner or something. And she said, I don't hit like because because I think it's necessarily good, you know. Right. And I followed that with I hit like to acknowledge that I heard them. Right. And that's what I do. and and if you're going to read the tweet you might as well take that extra you know 100 microseconds and click the like box and uh yeah they're just dying to be heard right especially

in the modern era especially in this world the the above the din someone actually read what you had to say so i think it's a positive thing yeah and if i get someone that like sends me um like just look today and you know something funny or some something perceptive i'll i'll i'll r-tweet it so rt it because because then they're like gosh you know this and i'm like i'm just like you i put my you know pants on one leg at a time and you know what i used to be i remember when zero hedge uh years ago would uh would start retweeting some of my stuff and i it made a huge difference in followers and um uh you remember fair enough back when zero had you you'd go to their site there'd be like four comments i mean i remember when they just started well i yeah i always avoided the

comments at zero heads to be honest but they were okay because they're so far back to a rational people and then they all skedaddled over to twitter and left the neo-nazis to show right yeah and i'm no fan of them either yeah we we uh we i started reading the zero hedge back in the in the day and people would give it crap you know especially the blue checks as i call them back then and um and i would say you know what i go i don't take investing advice from zero hedge i don't take you know i take it as a grain of salt there's wheat and chaff in there but it's at a lot of times years ago they were providing you know here's this report from jp morgan that we're just going to publish in full and i'm like i have no access to that and i and i know most people don't

i thought that was really cool and i think they're still actually very good you still have to bring there and they're they're also an outlet for people to leak shit people who do have yes yeah no they're great i got no complaints and i'm a fan but do i it's like my joke you know when i when i quote somebody i am endorsing every single thing they have ever said written or done you know because it's so absurd one time i mean i've quoted all sorts of people you know i'll quote chomsky okay he's got some good quotes before he went insane in covid and and knowing and knowing Epstein too, but he does have some good points. So I will, I will highlight on occasion and I have in the past some good points from him. That does not mean that I support all the other stuff.

The same thing with anybody. I could quote Robert F. Kennedy Jr. I could quote Donald Trump. I could quote, you know, Nancy Pelosi, if she ever happened to say something intelligent, but you know, it doesn't mean I'm in favor of everything. So. Well, I do quote Nancy Pelosi. let her let her hang herself um or yeah kamala's the one that does that i like to just watch her ramble on but i call her kamala doing dr seuss um she here's the here's the here's the the thing that people should take seriously though i was on a doctor's zoom group who who formed when COVID showed up and these were docs saying, holy shit, this is a screwed up story. And they became very anti-vaxxers. And they had anyone who was anyone in COVID, they had them through. They had

Kennedy, they had Scott Atlas, they had everybody through. And there was this one guy who was a national security analyst. And I didn't know it. And one day he starts babbling about Hegelian philosophy. And I'm going, oh, Stephen, whoever this guy is, is going off the rails today. And then it started making sense. And then someone chimed in and said, Stephen, are you a professor of philosophy or something? Because there's about 150 people, so we didn't all know each other. And he said, no, I'm a lawyer, but I used to work for the National Security Agency. And turns out the Arabs follow Hegelian philosophy. And if you want to understand what they're saying, you got to understand hegelian philosophy and then it makes sense would be like trying to

understand the wokies without knowing what intersectionality meant right things like that and when i asked him i had i said who's the they right how many times have we heard the word they referring to some amorphous bunch of badasses and and he said i don't like to name them because i don't it it makes it too easy to then dismiss it and so you say well bill gates and then you say okay that's fine we now know bill gates is evil what's for dinner and you move on and so it shuts down the conversation so i extrapolated that from that to also don't ever say someone's stupid because especially in a position of power because that's being said for some reason and and as dumb as kamala is and i had dinner with an uber famous hedge fund manager about i don't

know two months ago and he said he met her and he said there's there's stupid and there's kamala he said unimaginably stupid and uh and and but but someone's writing her speeches and they're the stupidest speeches and you go but but you could hire a 14 year old from a prep school in england who would be able to write better speeches than that right yeah and they're writing very bad speeches for and there's some reason there is yeah i don't know i don't know i said the other day that it looks it appears to me like the biden administration every everyone they appoint is like they think to themselves who's the worst possible person we can appoint for this position and they do that you know like the luggage guy or somebody like that

hang on hang on before everybody turns off the radio the i said that about the trump administration too i mean he's bringing in bill barr and and and and gary cone and all that so that's just i'm by part i think that's another thing that's i really try to be is bipartisan because uh i mean you know republican party blew up not under trump but under george w bush you know uh in iraq and that whole patriot act and all that that was all under bush and then obama came in and I, you know, I thought he was going to be, well, like I said, I, I used to listen to his speeches and then I realized they didn't mean anything. So he was a complete failure. He, he put, well, he was probably intentional failure, you know, Pam Martins, oh, Wall Street on Parade.

They wrote a great article in like March of 2008, explaining the, um, the purpose of the Obama administration. And it was basically to act as a cleanup crew. I'll, I'll post that again, or I'll send it to you. It's a fantastic, it's the most prescient description of what Obama, Obama was, because then he came and he put in Holder, who was the guy who introduced Too Big to Jail. Nobody went to jail. And if Obama would have come in in 08 or 09, in January 09 and said, you know what, DOJ, go after all these guys, all the fraud, all that, you know, it'll be like the 1980s. We'll have 3000 criminal referrals and we'll send executives to jail. If that had happened and we'd broken up some of the banks and we hadn't given them tens of billions of dollars

of TARP money to pay bonuses, if we'd done all that and we'd reformed it and backstopped the taxpayers, you know, backstopped the depositors, I know, but there's no reason that Lloyd Blankfein should be a billionaire today. You know, I mean, he should have been out on his ass. He was a hedge fund manager that failed, and then he magically became a Fed-backed bank, along with Morgan stanley in 2008 and so if obama and held or would have done all that he we would never have had trump ever that's not even close and and then so trump makes luck trump as i have a whole thread on this too that goes back to 2017 he comes in here's this buffoonish guy famous people know him what does he do he starts criticizing the bankers people like whoa he's criticizing wall street whoa

wait a minute hey he's criticizing george w bush and dick cheney in their wars people are like wow this guy so he's getting left right middle he's getting i think a significant amount of minority people that supposedly according to the media hated him they i think a lot of them loved him and he came in and then within days of becoming president in january of what 2017 he starts bringing in goldman sachs to run his administration and i think people were like boom boom boom they're getting punched to the face left and right under bush under obama under trump and then if you notice just to continue here there's a tweet i have of in one single day in the middle of 2020 there's like 40 top democratic officials that either throw their support to joe biden or they

they leave the race candidates leaving the race all the same day and endorsing joe biden and basically i called it was that was anybody but sanders and of course sanders and lauren and all these guys uh tulsi gabbard everyone threw it in all on one policy gabbard ron paul never endorsed donald trump ron paul didn't endorse george w bush but gabbard endorsed by uh chomsky endorsed biden i mean all these people endorsed biden why not why not just not endorse anybody but to endorse biden i mean biden biden it was a big fan got the patriot act passed biden was a big fan of the iraq war you might as well just electric cheney honestly except for the woke stuff which biden has gone i never expected that biden would be this insane with with that stuff but i guess

the worst people of the obama administration are running the show here clearly joe's not in charge and clearly kamal is not in charge so i don't know who's quite in charge is it this is it the city group people again like michael frohman who picked obama's cabinet i mean basically we keep going from citigroup to goldman sachs to citigroup claim is the name that i keep hearing occasionally let me let me do a pathetically sad defensive trump relative to biden okay now i agree with everything you said about trump they've never seen trump and biden is that trump's people although evil and crooked and corrupt, Biden's people are unimaginably incompetent, right? There's nothing going on up there, in any of them, best I can tell.

And so, I think we're at greater risk having utterly incompetent people running the country than having competent corrupt people running the country i'm not sure that's true what a choice to have it is a wonderful choice now let's go to kennedy yeah is kennedy a manchurian canada what is he what's kennedy in your opinion well i've been listening to his podcast for a while and he had great guests and um i take issue with the anti-vaxxer slur because i was called i i got two pfizer vaccines in april 21 and uh for for reasons that were personal so i was protecting other people i believed at the time and uh and then i got called and then because i was anti-mandate i was always 1 000 anti-mandate i was called

a anti-vaxxer and i'm like what what is that it's just like the other day this is great there's an article in the diplomat which i don't for some reason is on my news feed and they were uh talking about oh pro-russian vietnamese criticized u.s use of cluster bombs and i read through the article like okay pro pro-russian what there is that was the only statement mentioning there's no support like these these vietnamese have traveled to russia and they and they support no they're pro-russian because they're against cluster bombs so the diplomat is giving vietnamese people a hard time for being against cluster bombs. Does no one have a memory of anything? Do you not know what we did to Vietnam and Cambodia? Like today, the diplomat, same magazine I posted, drives me

insane. Oh, the US is going to withhold some aid and things to Cambodia because we're not happy with their election. I mean, haven't we done enough to Cambodia? It's like that great Anthony Bourdain quote. Again, this is all just like boom, boom, boom. Another dead guy. The other day. No, he said, once you've visited Cambodia, you never want to stop beating Henry Kissinger to death with your own hands. And that's Anthony Bourdain. You know, he visited Cambodia, he saw what they're still suffering from over there from the war. And the amazing thing is that the people of Vietnam, I live near a number of them, are some of the greatest, most pro-American people. And I know friends, I've never been to Vietnam, I actually would like to go there. But they say they love

Americans over there. I mean, by and large, you know, and they have great reason not to, you know, And yet, you know, they're great people and Cambodians and the Laotians and everyone else that suffered. And that's all forgotten. People don't remember what happened before 2009. There's no memory. I don't know. And I think I would have to say, and I remember you sort of hinting at, you know, at one point you had sort of a moderate, moderate neocon streak in you, which was me, too. so you know when reagan showed up one thing that was really noticeable is the united states was very down on itself right it was really an empathetic state we dealt with you know double digit inflation the arab oil embargo was beating the shit out of us uh you had and republic

dictators pissing all over the president united states verbally and and reagan got elected and And he went over and whacked Gaddafi and killed his son and basically said, quit fucking with us. And then he then then the the air traffic controllers went on strike and they can't. And they said, we're going to do it anyways. And he fired them all. And I go, you know, at the time, that was a very important labor management shove, because management labor had gotten way too cocky and way too unaware of the downside of strikes. And so we needed Reagan at the time.

I really am nervous that I've underestimated the darkness underneath Reagan's administration. I know it's there. I mean, the CIA's there, the FBI's there. How could there not be darkness there? But I think Reagan knew about the darkness. His inner circle included Roy Cohn. You can't get worse than that.

That's right. Trump's mentor. So tell me about him being Trump's mentor, because I hear that phrase, but was he his mentor in a very serious way? Or was it just some guy who sort of crossed paths with Trump when Trump was young? I don't think I think it went beyond. They were they were photographed one time together at a party. I mean, again, I'll defer to Whitney Webb. She's wrote for people that don't can't handle a 900 page book.

there's and i can send it out again i guess when i re-listen to this i'll start tweeting out some of the things that i'm talking about but she wrote a series of four articles that basically went from the very beginning of epstein's origin stories which doesn't even involve epstein you know this goes back to world war ii and when we were uh the government would align with um the mob the you know mafia or whatever but they were they were jewish they were italian uh sicilian and they would uh to fight the nazis and you're like okay or to fight the japanese we would ally with the kuomintang or whatever then what became taiwanese they were they were major heroin opium dealers over there and and we we were side by side with them on that our government

and you can say okay we're beating the japanese we're beating we're fighting the nazis so it's defensible um that we're that we're teaming up with bad guys because we're fighting worse guys And I can understand that. But that never ended. That never got worse because it got worse. We became the bully. Right. Well, no, I mean that we there's the partnership between organized crime and the United States government is as strong as ever. Well, the thing people don't understand, they think they think that somehow organized crime formed an alliance for the CIA. The CIA was built. The cornerstones of the CIA were organized crime. the very beginnings of the beginning that's what whitney's talking about yeah that's right yeah so i'm about to start volume two of her book literally today i will i'm finishing up the

book i'm finishing up the franklin scandal book and then you need to get out in the sunshine i think that's why i was so goddamn mad on saturday but um and um but i'm going to part two whitney's webb's books are not easy reads no they're not they're reference books i think they're they're reference that's right and that what people criticize her for not telling the the story right the story she it's not you're not reading mccullough's books or not mccullough that the the storytellers there are guys who can write books and tell great stories i think people who say she doesn't tell the story are lazy she tells the story that's a lot of work though Because you're getting bombarded with names. So what Whitney does is I view her as a puzzle assembler. She pieces puzzles together. And she says, person A knows person B, who happened to also be the lawyer of person C. And it's a huge amount of work.

And I find, speaking of lazy, what I find myself doing is not saying, okay, what's that person's name, but saying corporate CEO. I just kind of lump the person in there and say, okay, corporate CEO knows congressman. And I kind of reduce it down to something a little more memorable. I'm hoping the second volume, the players will be, have you read the whole thing? No, no, no. I read two chapters and I wrote on it, and that took days and days to do that. So, no, like I said, it's something shiny came up. I'm off to the next book.

But I do recognize that if I need – oh, I've gone back to it. Like if I want to read about Bob Rubin or Larry Summers, get more color, although I have a ton of color on them over the years. I just go to her book and see what I haven't found yet. It's a treasure. It's a resource. It's a resource book. That's right. It's thorough as hell.

It is thorough as hell. To me, there are books – it's not a book you read left to right. It'll start at the beginning and go to the end. But I did with the first two chapters and wrote on it. So I was actually starting to dig into pedophilia as a topic, not a hobby. And then this year it picked up. And all of a sudden I go, oh, boy, this seems to be the year, right? And so all of a sudden the sound of freedom shows up and, and, and, and I said, okay, I got to accelerate my pursuit of this. And I'm like you, I like the overview stuff. I actually, I don't want to be, I went to a hedge fund manager's dinner once, a founder's dinner in some rascal or in the basement of New York City. I drove there just to have dinner.

And I was struck by these guys, although good at what they do, were incredibly siloed in their thinking. And the only guy who seemed to have an overview, the only guy I could see now, I was told there's a guy named Lasry there, and I've been assured he's very good. But Einhorn was the only one that had this sort of capacity to look at the big picture. And the rest were like, you know, some vol derivatives trader or something, you know, and they knew everything you needed to know. But we start talking about inflation. They were lost. And and and that I I'd rather paint an impressionist painting of what I'm seeing than than the absolute minutia. Yeah, I agree. It's a it's a tough it's it's unpleasant and it's discouraging if you get into it, that sort of thing. Well, so my pursuit of the pedophiles, by the way, is I've been groping to understand why there are so many people in the country and in the world who seem to be willing to make decisions and do things that are antithetical, not only to the basic principles of the United States, right? just the basic premise that we all kind of agreed, you know, we are special, we are the

Tokovils, the United States of America. They seem to be willing to throw that under the bus completely and even sort of self-destructive. And I just couldn't figure out why, what upside is there to doing that? How many people seriously want to get rid of the First Amendment right now in the United States, probably 40%. Oh, I think it's higher. It's insane. They were openly calling for it. Yeah. Yeah. And whatever happened to liberals, my experience, classical liberal or any liberal, you were anti-war generally, and you were pro-free speech and pro-civil rights. And now it's like, it's the opposite. And it's insane. The Bill of Rights is all we have. And so many,

especially young people who have just had horrible parents who raised them and horrible teachers think that the first amendment you know i think the free speech is like it's something to get rid of it's it's frightening it's frightening yeah i mean it's had context like the last 30 minutes of conversation i mean i'm again a millennial so i'm a product of 9-11 i was 10 your wrist now you know you guys worst PR agent or like a or like a meme

at this point and it's not fair it's not fair I'm saying that the millennial is a pejorative it's like a conspiracy theorist we're all proud of it

but everyone else thinks we're dicks yeah but I I think I represent a subset who have really been jaded by the political process

specifically again 9-11 happened quickly after the Patriot Act the wars in Iraq and Afghanistan and then not too long after that

2008 the bailouts tarp all that bullshit and in between then you have like the wiki leaks really highlighting like hey these people are beyond corrupt and going back to the conversation about presidents whether it's obama trump bush one bush two or biden like they don't run the show it's these intelligence agencies that are really pulling the strings behind behind the stage and And that's why, like, when it comes to what's the comparison of Trump and Biden, like, I just think it's completely misguided conversations. It's all limited. It is. But here's what scares me.

What scares me is having the think of, for example, the Cuban missile crisis. Love Kennedy, hate Kennedy doesn't matter. The fact that we had one guy in charge of ultimately making the call, I think was important. I think that was a critical part. Glenn Greenwald wrote an article within the last year saying that the situation now where it's this amorphous shootout in some war room somewhere and Biden doesn't know what's going on and Harris doesn't know what's going on. it's a very dangerous situation. We need an Eisenhower. We need a Kennedy. We need we need a Jimmy Carter. I for that matter, I'd take Barack Obama because I don't think that he there's I have trouble with a lot of aspects of his presidency. But the one thing I think he had the chops that if he had to make a real tough call, I think he'd probably do it. Biden can't do it.

certainly going back to the cuban missile crisis in jfk maybe he was like the last president that could actually do it because he i think noticed that the cia and intelligence apparatus was trying to take control behind the scenes and yeah vote is that and got his brains blown out kind of funny coincidence that huh yeah well then then you read that um dan rather was the only guy to actually see the folds of pruder footage showing that he got his brains blown out from in front of the car instead of behind and just the other day i read something i'm not recalling it i don't have the havenstein photographic memory but someone was writing about something else that rather knew and he shut his goddamn mouth about and can you imagine well he was probably threatened

with what everyone else was threatened with you know you you didn't see that don't ever say that But again, the guy that ran the JFK Records Commission, again, I'm going to resend this out. He went through everything. He went through everything and all the evidence. He talks about how many people that day or witnesses came to him years later and said, I told the FBI that I was positive he was shot from the front. I was on the grass, you know, the bullet went over my head. And the FBI, none of that was in the Warren Commission report. the the head of the jfk records act was said that they he got the the fbi you know how how it would

work hey you know no dave you did not see that well yeah i did say well dave listen i noticed you're a professor at cornell university you know do you want to remain a professor you know you know if do you want your family to be homeless that's what they would say and then the people go okay i didn't see it i don't think the bullet came from the front well this is by the way why My, this Franklin Scandal book that I'm reading is so disturbing because for those who haven't read it, and I don't recommend you read it unless you're safe around sharp objects. Basically, it was a pedophile ring running out of Nebraska. And it looks like a sort of a penny ante ring in some sense, right?

It doesn't look like a big ring, except for the fact that there's, and all the witnesses are a bunch of crackheads because, by the way, they got it up the ass when they were five years old. So, you know, you end up being crackheads and, you know, you know, your life gets gets crushed by this. But the horrifying connection was this wasn't a bunch of Omaha, Nebraska, which, by the way, I'm thinking it was Buffett in there. This wasn't a bunch of Omaha guys who were just pervs because the cover-up went through the chief of police, who was a perv, the attorney general of the state shut it down. The FBI completely stepped on all the witnesses, destroyed their lives. They tried to convict one of the most prominent ones of perjury

to make it very, very clear. By the way, one of my theories is you never want to be called a whistleblower. You'd be a whistleblower on Walmart. You get labeled a whistleblower, they have to destroy you because they want you to say never be a whistleblower on anything and so whistleblowers the name is like saying oh just shoot me now um and so in any event so the cover-up reached all the way and they said inner circles of the white house they said it went so to me i go okay that must be roy cone and and then um and it's the the cover-up was so bleak And then they made it to the then the Supreme Court of Nebraska and they put a judge in there against the rules of judginess who wasn't supposed to be able to be a Supreme Court judge because he's still an active lawyer. And they said, fuck it, we're going to do it anyways. And then the judge is a complete and utter sack of shit throughout the entire trial.

yeah and and and you're going the problem is not just that there's pervs the problem is that the cover-up was so monumentally large for a bunch of kids getting it up the butt in nebraska yeah well that's why i say true detective was a documentary you know i wish i just re-watched both season one and two by the way where i'm going with all this shit is it explains how So so now you take Nebraska. And you you simply you simply expand it to the size of the world and you realize that that you don't need to have everyone compromise, you just need enough people compromise where the uncompromised people say, look, I can't do it. Great example. Right. Forty one thousand hours of tapes in the White House for January 6th. Where are they? There's people rotting in jail, people rotting in prison, people rotting in solitary confinement. It's already been shown that people would be getting out of jail if those 41,000 hours were released, yet they haven't been released. So the people who are refusing to release them are treasonous, in my opinion.

Well, most things that are classified information, I think, are classified to protect people from embarrassment or prosecution. I mean, I said that many years ago, you know, so that's obvious. um i don't know uh getting back to marty's point about a tough time to tough time to come of age uh yeah because i remember um i think that goes back to dave's point about the media because like when i was growing up come home from school black one black and white tv with three channels and it was the news was on and the news back then was vietnam and you saw the war and you saw people get you know correspondence in the in with the troops getting shot at you saw body bags you saw napalmed civilians. And you'd have at night somebody like Cronkite come on and talk very

soberly. And he wasn't trying to push anyone's buttons. I don't think he just was reporting the news. And what you have today is a complete clown show where everybody is, I mean, you got to be honest, 95% of mass media, you know, not people like you guys are, you know, you're some of the alt media people, but 99%, 95% of the media personalities are in the tank for Kamala and Joe. And that's, that's fine. I'm sure they've, the percentages were pretty high back 50 years ago, too. And you've got the Fox news is in the various offshoots for the other side. And all they want to do is get you amped up and push your buttons, you know, and they don't care. Like I joke, you know, you could have a headline that says, you know, Trump eats babies or Biden eats

babies. And you're going to have people clicking that. You're going to have the people who are clicking it going, yeah, that's right. He does. I hate that guy. And you're also going to have the people clicking it who say, that's outrageous that they would say that. How could they do that? And they're going to click too. And that's all they care about is they got your clicks, they got your ads. And so that's why, honestly, like the whole thing with the January 6th thing and all that, I don't watch cable news anymore. Ever since Trump was elected and I saw where it was going after he won at Russia, Russia, Russia, Russia, which is, I think, complete idiocy. But anyway, I just don't watch any cable news. And it's the single best decision because there are

all sorts of things going on that everyone's outraged about that I'm kind of aware of it because I can read, but I don't have my buttons pushed. And I remember having my buttons pushed different ways. And it's very nice. And I recommend that to everyone because you're really not going to miss out on anything. Don't watch any cable news. Don't watch Fox. Don't want you to have some MSNBC. And even the nightly news during COVID, honestly, got so woke, the three or four stations that I had access to, I just gave pretty much up on that. I'm like, I got a friend who says, you know, he gets up and he looks at the news in the morning, are we at war? No. Okay. That's it. He just wants to know if we're at war or not. And that's,

I think, a much healthier way to go through life because, you know, bottom up, look after your family look after your community and forget about you know kevin mccarthy and mitch mcconnell and nancy pelosi and all everybody they're not they're not interested in you so why be interested in them anyway kind of nihilistic and who to vote for like who do i always vote for i vote for ron paul okay ron paul's not running anymore really but i still write him in or maybe i'll write in my candidate uh jim grant i mean i voted i thought i mentioned in the thing i voted for obama in 08 because I was naive, I guess I believed him and he lied. And then, but I haven't voted for anybody that wins in like forever. I'm just kind of used to it. I like RFK, some of it. I know he has huge

baggage, unlike Trump and Biden, of course, who have no baggage. But you can tell, this is the thing now, anything that the people I can't stand, you know, the Anderson Cooper types of the media and also, you know, anybody that I can't stand. You guys probably know the type. There's probably some overlap. I see who they hate, who they really hate. And then I go, okay, I'm going to look into that person. You know, and maybe there's a valid reason,

but generally that's the person you want to look at there. I mean, like, remember Brexit? Brexit, Brexit's the world's going to end. And then, no, I had no interest in Brexit, so I'm not British. And then I look and see the lineup of Davos crowd goofballs who are saying, oh, the world's going to end, literally going to end if Brexit passes. And I go, oh, okay, that's interesting.

Anyway. Well, but then nothing happened. So they voted Brexit, and I don't see where there's any Brexiting going on. They overturn elections now just, you know, sort of de facto. There's some absurdity. So you have Kennedy, who has his baggage. Right.

But he's, A, he comes out of the Camelot tradition, so there's that and there's a lot of people who like that idea he he seems to be committed to the idea of trying to tell the truth and i've watched enough of his podcast to see that he really tries to straighten out things that he said before and and clarify him and things he was on the right side of most of the the covid story um i don't think he was psychotic i actually think the autism connection is real at this point i completely flipped i thought he was nuts on that I've completely flipped on that. And he's going against a guy who is 80 years old, clearly demented. Pretty good evidence he was molesting his own daughter, sniffing the hair

of girls and saying shit to them that anyone who knows anything about predators says that's classic predatory behavior, legitimate looking accusation of rape that went nowhere and selling the United States on the river to Ukraine, to China, to you name it. And somehow he's, I don't see how a party picks him. The fact that a party would pick him, this is not a shiny bobble they're handing to us, Right. This is this. You don't think there's any you don't think there's any possible way that the DNC would allow Robert F. Kennedy to be the Democratic candidate? No chance. But but the point being is he what he does represent is this juxtaposition of candidates. Right. Oh, yeah. He's the yeah. It's like who's the least bad candidate? I mean, by a mile, it's him, in my opinion. i mean he's so far he's so far from biden right you could go into the phone book and randomly

throw a dart at it and come up with someone better than biden well my i keep referring to my pin tweet which is i'm against the banksters and i'm against the warmongers and right and to me everything else flows out of that so if i like i liked gabbard uh originally because i thought her foreign policy was great and then i probably disagree with her on 75 the other thing same same thing with Kennedy, maybe, you know, or something, but my top issues are so important to me that I'm willing to overlook other things and try and find common ground. And that's what I try and do. Like a lot of my followers are very, are very left-wing they're much, you know, far to the left of Biden or Kamala. They're not even, I don't know what they are. They're just

opportunists. And then, and then I have very right-wing, you know, very pro-Trump followers and, and, and friends and very, very liberal friends. You know, I have big, a lot of friends we're big hillary clinton supporters and so i can get along with everybody i try to find common ground let's not argue so much about what we disagree on let's find some common ground and it's scary that something like free speech or not being an an evil empire is is not common ground anymore it's it's bizarre well i think it is common ground amongst people amongst most people but like the way the media and those that control particularly the dnc project it gives it more um makes it seem bigger than that's an excellent that's excellent point below yours marty i think

you actually start finding real problems so the millennials get a bad rap but you know you got to remember the boomers right rudy is in my generation we we brought drugs into the war we we were a handful for our parents so for us to bitch about the millennials is insane to me But the Gen Z-ers, I think, really do have lost the thread. Part of the problem is that they're the first generation, I think, that started getting indoctrinated from daycare. And that's really the problem. What is Gen Z that you're talking about? I kind of put Gen Z in the sort of the late 20s zone now.

I could be wrong about this, but what I see in our grad students is even the most thoughtful grad students who seem like reasonable individuals, I still see things that they just don't seem to get at all. These are chemistry grad students? Yeah. And, you know, the Jonathan Haidt theory is that, in coddling the American mind, is that the kids who showed up on campuses as freshmen in 2014 were just different. They're just different, period, different. Yeah, well, I will speak up for the 20 and 30 year olds, because I know a number of them that are just outstanding people with doing wonderful work. And I get I kind of hope that that Marty's right, that it's just that, you know, nobody, nobody's going to put on TV on the nine o'clock news, hey, this this person graduated from school and paid down their debt. And now they're helping people as a as a doctor, you know, an ER doc, you know, you're not going to see that, but they're going to see some goofball who's complaining, you know, about some, I mean, there's a lot of great people of young people out there and we don't, there's not the ones we generally see on, on the news or on social media. We get

the freaks and we get the attention seekers and the malcontents and there's a lot of good people out there. I'll defend the young people. Yeah. Yeah. People ask me about life at Cornell and I go, you know, you, you don't see on campus what supposedly we're supposed to be seeing everywhere um there are different places with different psyches so i'm told for example there are famous chemistry departments that are woke up the kazoo you can't go through a day without getting hit with wokey shit um but but but um most of the kids are there trying to learn how to make robots and shit of course they'll write right they'll cut it what is it that dynamics robot company and make killer robots but that's a separate issue um and the the horror

story, the ones who go and spend a quarter of a million dollars studying something that will never extinguish their student loan. And so there really are majors that should not exist or should be so rare. And again, it's back to the stupid money. In a podcast, someone said, maybe it was the Saturday one where he talked about dumb money. I said, all the money's dumb now. When you flood the world with that much money, it all becomes stupid money. So the kids are doing stupid things with their opportunity. What I have noticed is changes in their work ethic. And there's a funny phenomenon, which turns out, I think, to be important. And so one of the problems with our young grad students right now is that they got an important part of their education. In fact,

every kid got an important part of their education during lockdown. So imagine you were trying to read behind a mask, right? And your teacher had a mask in your first grade. Imagine the damage we did to those kids it is unmeasurable what we did to those kids but but you take a kid who's a first year grad now they took a lot of their college courses zoom calls and bullshit presentations and they i don't know about you but i learned how to go to college and i i don't think they did so one of the things i noticed in my courses so as i i teach a course i taught two grad courses last semester which is almost unprecedented no one knows that but i did um and um they study different and it's really a fundamental problem so i'll build up a case i'll start at ground zero and

say here's how this here's the most basic principles of the field and then i start building on and building on it and it was only towards the end of one of the courses that i noticed that they weren't they weren't keeping up at all and i realized that the way they studied was, imagine the semester is fragmented by a bunch of exams and a bunch of problem sets. They would aim at the next target right in front of them. And they would do nothing and they'd hit that target. And then the next target would come up, the next exam, they'd aim at that target. Meanwhile, you're lecturing to them, but they're not keeping up, they're not studying. And so by the end, I've built this sort of superstructure of supposed knowledge.

and since they haven't started studying yet because my exam has not become the thing right in the road right in front of them they didn't know anything and i realized i i could have headed off at the past if i had noticed i could have said here's here's what this year i will say here's what i saw last year this is not the way to go to college and i i talk about stuff like this i talk about how to write research grants i talk about what it takes to get tenure they don't understand that at all. I talk about what it takes. I talk about the idea of why it's important to learn how to write. Of course, now there's Chet GPT. And I talk about all sorts of life lessons. You can imagine me not being able to control it. And in previous years, I used to get

rave reviews nonstop for all the great stories about, you know, like I told you before the podcast where I was drinking ginger ale and pissing into a cup and I grabbed the wrong glass and took a belt out of it. I would tell them that story, right? I would tell them how I took quantum mechanics, graduate level physics without any calculus. And the message is, and I'm somehow still here, right? I'm standing in front of your classroom. So, you know, you can fuck up royally and still make it. So there's a lot of messages in my stories. And this group, in their questionnaires,

they call them interruptions. They didn't call them jokes. They didn't call them stories. They call them interruptions. And I'm going, boy, that's a different world. There's something that's fundamentally different here. And I don't know if others are experiencing that. I talked to a woman from Ithaca College

who, in the summer, was doing some other job. and she was saying oh yeah the kids are completely different i don't even know how to reach them at this point i don't know how to do it so we do have a problem you know i wore bell-bottom jeans too did a lot of drugs a lot got in trouble what does marty want to talk about yeah i mean i completely agree like and i think that's the nature of like these kids growing up in the internet age and social media the kids learn everything on tick tock these days whether like that's a good idea or not that's what they're doing and there's so many distractions bad parenting and then yeah i mean bringing it back to like the context of where we are generationally

like i do believe there is some validity behind like the fourth turning stuff and going back to like politics and voting in a new president to meet the new boss same as the old boss like i think everything that's out there right now is meant to distract from the main problem in our society which is that we up the money and all these negative effects that we're talking about are just negative externalities from that core point they want you believing in the russian um scandal they want you believing that biden and kamala are completely incompetent and debating and fighting over that when nobody ever brings up the monetary policy oh that's it do you think um so the i was going to mention the fourth turning earlier in our chat because i agree with you 100

on that neil howe's got a new book out i'm told i just listened to a podcast to his fourth turn kind of funny because years ago i wrote about it i mentioned it And Einhorn, who reached out to me one day when we become very good friends, asked me my opinion. I hadn't finished the book yet. I did a Rudy move on it. I read some pile of pages, then found a squirrel running by me, and I chased that. But then I said, oh, fuck it.

I got to read it. And then I'm sort of trying to get started, and he says, well, what do you think? I go, oh, fuck. I really got to read it. That happened to be the other day in a biography by Steve Hanke. And I finished it, and I told him what I thought. kind of loosely formed ideas in some sense, right? I mean, it's like trying to make it all very systematic in what's maybe not so systematic world, but there's something to it, this idea of

generational rollover like that. And one of the arguments is that, like Rudy said, that, you know, if we had just dealt with the bankers, so to the extent the fourth turning started, let's say it started, I don't think it started with the crisis. I think it started with the response to the crisis. That's exactly Rudy's point, I think. And the problem is, is you can call it a fuck up, but you can also say the fourth turning was due. And the fuck up was due. And the reason you step forward with your left foot is because you were done stepping with your right foot. And there was no choice. And we were going to fuck up and go into a fourth turning. And how it looked might have taken on different shapes but it still was going to be 20 years of a clusterfuck

now the risk is if we're only 10 years in then the next 10 is going to be a humdinger of a 10 years it's going to be cbdc which is going to try to swallow your world marty and it's going to be it's going to be they're going to try to swallow swallow the world of the rest of us too who are not yet totaling and stuff like that so um yeah i it it feels to me like somehow the united states is going to have to have some gigantic default which will involve raytheon and and and mcdonald douglas and companies like that we we're having it we're in the middle of a giant default it's called inflation but i think it works than that even i mean i i agree but you know you can either So you're going to chip at it. It's it's inflation is just, you know, a slower motion default.

These people it's incomprehensible to me that that a serial arsonist like Janet Yellen is now, you know, fire marshal at the U.S. Treasury Department. I mean, how does that happen? We have the same people for the last 30, 40 years. Larry Summers, you can find him every day. Somebody on Bloomberg is interviewing him or some academic is retweeting something that Larry Summers said. Larry Summers, forgetting his entire disgusting relationship with the guy, is a serial policy disaster. I mean, from Glass-Steagall to growing up at Harvard to everything that guy has done this past few decades has been to enrich the people that he's gotten very enriched off of. I mean, Larry's worth tens and tens of millions, you know, if not more, as is Yellen. And we keep bringing these same people on.

In any sort of sane world, no one would ever listen to Larry Summers or Janet Yellen on any issue ever again. They'd be left off the stage. Instead, she's some sort of feminist icon. And Larry Summers is like, I don't know, some sort of economic tough guy standing up to Jay Powell or something. It's insane that we keep having the same people. You know, on the CARES Act, I mentioned this. One of the congressmen says, hey, I just talked to Bob Rubin. I got his advice on the CARES Act. Well, Bob Rubin, seriously? Bob Rubin, who was Gensler's mentor, by the way, is one of the worst financial war criminals that we have, along with Greenspan and the rest of them. And yet, why are we listening to Bob Rubin? And by the way, the CARES Act, as I was tweeting at the time in 2020, was going to be, think of all the theft that went on in 08 and 09, okay? Multiply that by 1,000. That's what she got in March 2020. So it's just insane that we keep these same people in charge. Now, you can default.

God, Ray Dalio, who I make fun of all the time because he's a classic WEF Davos guy, but I do agree with him on some things. He said the other day, you know, you own bonds. He goes, well, you know what? they issue too many bonds and they can't pay it back. So you're either going to get less than your face amount or you're going to get the full face amount, but the dollars you get paid back with are going to be worth less. And that's just a fact.

So inflation is a default. And these guys think they're so much smarter than the guys at the Reichsbank in 1935. When you listen to Ray Dalio, I hear a guy who tries to sound worldly, who I think is about as shallow as he can be. Have you seen my thread on Ray Dalio? No, I'm sure I picked up shreds of it because- Oh my God. All I do is post pictures of hot dogs

with quotes from his book, Principles. It's the most vapid nonsense you've ever heard. I'm having another dinner with a guy who you would all know. I have to be careful because I want to say what they said without telling you who they were. I'm happy to tell you too, but I don't want to tell what could be a viral video. I don't know.

Could be it'll be buried. um but i was talking to this guy this is going to get 81 million this this podcast is going to get 81 million views i guarantee it or 81 one of the two um and and i we start going through the players and i said uh i said cojones he loved cojones and this guy this guy's cojones endorsement was so strong that i told cojones he got the cojones the guy endorsed cojones he said oh yeah, he and I were weak in the long run. Good. I agree. I agree a hundred percent. And, you know, rat, rat, fuck, bastard. You know, that's, that's Cahotis, right? He doesn't pull punches. I don't want to be on the other side of that. Yeah. Oh my God. No. He talks about how, you know,

like he'll sit down and some CEO will come over to him and say, look, if you ever have a problem with our company, come and talk to me. You know, Cahotis said, well, since you've already offered that i probably will never have trouble with your company um he's great he's phenomenal and he's just so cantankerous which is great um i got to dalio and he said i think he's a total fraud right yeah and i you know that's a vague term and he says i now believe that he actually does own a hedge fund and i go really and he he was not joking he thought yeah dalio did not have a hedge fund i hit on chanos it wasn't as flattering as i expected i'll just leave it at that um um high standards high standards yeah so well i had i had a couple of prominent people i'm

to get back to inflation inflation i totally understand it as a default but but there's there's very few instances where inflation has defaulted successfully without at the end a real deflationary default right it usually ends very bad like five-hour germany right they defaulted on their own people but they didn't default on the sovereign debt right they still owed it and and if you look at places like argentina and stuff they they they try to inflate it away but they end up defaulting and yeah well they came up with a rent mark in 23 and and it was backed by i think by land and by gold by uh gold and other things it was a real hard currency and i think the people were so exhausted by then that it was readily accepted

right away and that was hallmark uh shocked who was the nazi banker right so yeah yeah the nazi guy but that but my point i make this point a lot on twitter is that the hyperinflation had so destroyed german morality in the 20s it created a fertile soil for hitler and all the contemporary accounts agree with that now i get a lot of people saying no it was the 30s it was the 30s yeah but no the soil was was laid out in the 1920s it's like when douchebag bernanke says that the the depression was caused by the fed not acting properly enough i go no dude the depression was caused by a loose monetary policy for 10 years right um but but but the my point is is that i think the people who are talking about inflation have this utopian vision

that of a controlled burn sure and i don't think the control i think that those are fairy tales i think when you control it that's right i think the attempt to do a control bird turns into an inferno because they view inflation and potential hyperinflationary is purely mechanical where it's literally it's half social and half psychological too they can never predict that psychological tipping point where people are like all right we're bailing so the question is are we past the fail-safe point on unambiguously i think so i hope you but hope is not a strategy is that a saying i have i don't know i mean hope is not a strategy yes that's the right one actually whether whether the media wants to that are unacceptable whether the media wants to admit

it or not like confidence in institutions is at all-time lows and only going lower and that's part of that social side of the tip but here's what i'll tell you rudy will confirm this for me i think if you live through the 60s it felt like all hell was breaking loose you had black guys getting hosed down and and you know dogs chewing their legs off and shit you had anti-war protesters you had kids whose parents were used to bobby darren and annette funicello trying to raise kids who were getting who were dropping acid every day and and the pill had been invented. So free sex was everywhere. So the 60s felt like the end of the world, I think, to adults looking down going, what the fuck is happening? We just lost Kennedy. We lost another

Kennedy. We lost Martin Luther King. The one that I would have loved to have seen survived is Malcolm X. I think he could have been a transformational leader. And and and by the way, Kennedy's description of why his father was not killed by Sirhan is really an eye-opener too. He says there's no evidence that his father got killed by Sirhan. None. It's an eye-opening podcast that he did. I think that was with Tyson or something. I don't know. I tweeted it out. I sent it out. I'll redo all this as a sidebar to this podcast. I'll tweet all this stuff. So you have to understand that I think what we're seeing now at some level does not look as bad as the 60s did rudy where do you come in on that well the media is much worse now oh the media is off the media is awful i guess

the deep state is you know they were very powerful then now they have the media in their pocket so i guess it's i would say it's marginally worse now um or it is worse now because of that there's no um you know the media has always been always had flaws but it used to be and once in a while you still see it they would they would speak truth to power they would they would write they would go after the government for abuses and and they some media still does that i don't want to bust the entire media but largely now you got guys who are doing it yes right there are some guys but but they're but largely now the mass media to me is it goes after individual citizens as an arm of the government it's basically i mean the biden administration no joke uh is is contacting social

media saying i don't like this guy's comments can you get them off your your uh your social media site that's that's a first amendment but the thing is i like i've said before i think half the laws in california are anti or against constitution unconstitutional but i'm not going to hire a team of lawyers i can't and and go and wait 10 years to get the supreme court to get it overturned and gavin newsom knows that so he's like hey i'll just pass this stupid law biden loses to the supreme court on the student debt relief and says he's going to do it anyways Yeah, there's we don't have the rule of a certain level for the Supreme Court to chime in, say you can't do it now either. What is that all about? I don't know.

To me, people who pass laws that are unconstitutional knowingly are treasonous. Yeah, I don't like to throw that word out because because I saw it used a lot. People throw it out like now where they used to just say, I disagree with you. And I was like, oh, you're a traitor. I mean, especially coming from the left now. You know, if you're not in favor of the Ukraine war or something, you're a traitor somehow, things like that. But I mean, I saw back in the day, oh, you know, Pedro was calling, you know, Pedro was calling certain people traitors. Yeah. And he followed me since the very beginning. And we'd had a little disagreements over the years.

But but back then he went off on, oh, this these Republicans that went and visited Putin are traitors. And I said and then I sent like a picture of like every U.S. president and Hillary Clinton and everybody all not only visiting Putin, but like grinning and hugging him and shaking hands and smiling. And and I'm like, you know, it's it's it's a head of state. You know, I don't like MBS, but if you if you're a U.S. president, you might have to meet with the guy, you know. And so to call people traitors, I mean, only the most rabid nutbags in the 50s would do that. You know what I mean? Like Mitt Romney calling Tulsi Gabbard a traitor because, you know, she's, you know, well, yeah, I don't mean to, I'm just saying I'm careful about that word because I don't like, I don't like calling people like that. There are. The problem is, is I I think I see it now. Yeah. So the old and five years ago would have just said they were disagreements.

But I now see stuff where it feels like we are being thrown under the bus in a profoundly destructive way. And I just don't know what else to call it besides that at this point. Yeah. I mean, I think the Biden stuff, it's coming to the surface via the laptop. with obvious pay to play access peddling could be labeled as treasonous but yeah it seems to me the millennial in this group that they're just trying to loot and rob as much as they can before it completely crumbles and rudy to your point earlier that history doesn't rhyme it really repeats itself if you go back and read adam ferguson's when money dies like history is those babies yeah because i mean i mean and in that book he really just focuses on

the speculative fervor that went on where you have paper boys trading stocks and uh essentially everybody was a trader back then obviously with covid and the tiktok investors and robin hood and gamestop and all that stuff like that has returned and you see it in crypto as well but then like there's other i don't think you really touched on it in this book but there's other threads that have been put out there on twitter that really highlight the cultural degeneracy that was rampant in weimar like leading up to it like people were really obsessed with sex and gender like like trans issues were big issues in weimar back then yeah and that's why like it's using this like obviously on the mechanic side of things like

fed's monetary base has expanded by an insane amount we just printed a trillion dollars worth of debt in a month and we're probably gonna have to turn the money printers back on but once you add up the mechanical side of things where the monetary base is with the social stuff like that's why i'm pretty convinced we're we're in the process right now well the debt ceiling was kind of funny because we talk about oh the u.s has never defaulted on its debt and i'm laughing you guys know this, we defaulted in 1933. We defaulted in 1968 off of silver. We defaulted in 1971. And to your earlier point, or someone's earlier point, I see so many charts that just go off the rails starting around the late 60s, early 70s when we went off real money. Now there's no

anchor. There's no breaks. And I think that's been, we've financialized everything now. I mean, look at the number of homes that are owned by Blackstone. That's all post-2010. The great risk is that, the metaphor I like is when the torpedo bounces across the airfield in Pearl Harbor and Red sticks his head up and says, hey guys, it's a dud. Then he gets his ass blown off, right? Because it wasn't a dud. The great risk is that because the system is letting us continue to do it that organic chemistry is a perfect analogy reactions give off heat when they when they go most often and the heat also makes them go faster and so what a bomb is is a reaction it just goes faster and faster and faster all in a you know fraction of a second um and and the

problem is if you start adding all these reagents at low temperature where the heat's not yet being given off and then you get this big vat full of you you it's a bomb and you don't know how to disarm it because once it starts warming and then it starts going faster and then it starts warming and then you you're off to the races and so by the world letting us flood the market with u.s money triffin's dilemma has been sort of pushed back and but it's left us with this this this bomb that no bomb squad can disarm oh yeah i mean that's what again i feel it feels like we're in a lull period like going anchoring to like 2008 and what happened uh that year when wamu blew up and yeah the spring and the summer was relatively calm and everything happened

in the fall it feels like we're we're lining up for that pretty perfectly right now in 2023 as well and rudy and is and with grant mentioned tonta tonta was telling us unbelievable treasures of of nuggets and i didn't know who she was at the time until she died she died of cancer and i pointed out to a person who wrote an important sort of article about her death as i said if you look at the table there's a pack of cigarettes on the table in front of her but but remember rudy you remember tonta telling us in blog after blog i think was seeking out or something no it's calculated risk calculated risk and she was telling us the chaos underneath the surface meanwhile and i don't know who was pointing this out the market abx index which is

the derivatives index had started quietly tanking right and it was at par and then all of a sudden just starts going down and no news agencies talking about it and it's just tanking these derivatives are going to shit and tonta might have been pointing i can't remember the details But you could just tell there was this, like, ticking time bomb under the surface. And, you know, the market blew up in 06, right? The real estate market was gone in 06. It peaked. If you look at Case-Shiller, it peaked nationally in 06, yeah.

Early 06. And yet, so one of my favorite stories is I told my class in probably February or March of 07, which if you remember, it hadn't blown up yet. There were tiny little now audible warning signs that the things were going to shit. But it was real early. And I was lecturing and I turned to my class. I literally said without warning, I said in one of my interruptions, I'm told now I think the banking system is about to collapse. And they all looked at me like totally stunned. And I said, no, I'm not kidding. I even think I said something to the effect that you won't be able to get money out of your ATM

machine, which became a trite phrase eventually. And so what happened is I had the same group in an advanced, an honors thesis course two years later. That was February of 09. And the first day of class, I said, did I tell you the banks were going to collapse? Because this one, it was just a complete and utter shit storm. And they said, yes, you did. And I said, did any of your econ professors tell you that and they said no and i said what are those assholes paid for that was my one of my first lecture statements to them my first guest lecture was the former ceo of morgan stanley bank the banking subsidiary morgan stanley and he gave it first of all i had dinner with him and i mentioned the austrians and he didn't know what i was talking about

and i'm thinking he thinks i'm talking about guys from austria at this point right and then and then and then he gave a lecture to my class lasted about two hours the the most amazing compliment i ever got is he stood up there and he said i'm sitting at dinner with dave and there's another guy there and he says within 15 minutes i realized i am not the smartest guy at this table pretty good so he he pulled out remember that trite plot of the highly colorful um um um subprime mortgages put out i think it was by credit swiss or something the reset chart when the reset yeah yeah yeah that was great that was great months from now and they said oh no fuck that's a stupid way to do it and they revised it to to put dates on it and and he pulled that was

the one chart he brought to show the kids and that was the most posted chart in all of the history of financial twitter right i mean or whatever it was that twitter just bought a lot but um um and so you can see it coming but it took what a year and a half uh yeah i'm you know i'm always early slash wrong i was walking around the house probably in 2005 going or six going this is insane it's gonna you know remember how bad the dot-com bubble is this is worse and it was worse and now uh you know your caldera that you can see only from space of this bubble is bigger than everything. And the numbers are so much bigger. I'd forgotten about that quote. You started to say it like, oh, fuck, right. That was a good one.

It's the everything, everything bubble in everything. And when you're right, when you have Who gets credit for everything bubble? I give it to Felder. Is he the one who gets credit? Oh, I don't know on that one. I mean, I think I think sometimes some of these phrases can appear spontaneously in multiple places at the same time, just because it's so obvious. But I don't know who did that maybe there was someone who did it first um yeah i was i was reading calculator risk which was which taunta was was way ahead of the game then i think i was looking like at the subs the forums burry was in but i never replied um i just wasn't sophisticated enough clearly to take advantage of any of that abx stuff my i had two shorts in oh there we go markets closed 2809

uh indie uh indie mac and downy savings and so of course i covered those too soon But my big problem in 08, 09 was I wasn't bearish enough. You know what I mean? Here's the problem. Let me defend you. Yeah. And I'm going to argue I was sophisticated enough to not short. And that is I was watching this going, when this goes,

there's going to be no one to pay me. That's true. And so you can buy all the derivatives you want. The guys who got famous for making a fuck ton of money in 09, they got bailed out they wouldn't have been paid if they hadn't been bailed out so the counter party risk was the operative word i'm going i don't want to be near that system at all when it goes out that's true like i was joking today who right who writes who's the counter party on u.s government credit default swaps right i mean you know credit suites or something yeah that's like

insane and i remember when the ceo of city group said don't worry we're hedged i go by fucking who the klingon empire yep that's why by the way i'm critical of people who are critical of silicon valley bank now i know they stuff up but but if you told me five years ago oh yeah these guys are going to totally destroy their bank by buying treasuries i would have said what kind of nutty world is this yeah but they also were badly managed too i think they were you shouldn't have you shouldn't but that all goes back to zerp i mean that's the original sin people people are like oh rates rates are up to five percent now well that's historically normal i mean that the policy mistake was the idiocy of act of these economists that we had zerp and qe

for a dozen plus years that that was that affects the price as you mentioned of every single thing on earth and so a lot of stupid things happen under zerp and now we're back to a more normal environment except we've added trillions and trillions and trillions of non-productive debt well gee who encouraged non-productive debt every day for the last you know most of the last 20 years the u.s government and the fed and so and you know and corporations well yeah but that but they were they're smart like the there's a great anecdote in chris linder's book you know uh the lords of easy money where he talks about dick fisher is talking at one of these meetings to Bernanke back in the day. And he says, hey, you know, I just talked to the head of Texas Instruments

and he told me that zero rates, he's not going to add a single job. He's going to take all that money and he's going to do share buybacks. He's not going to invest in plant equipment. And Bernanke being the total, you know, I don't cuss on air, but the total of what you think he is. He said, And thank you, Mr. Fisher, for bringing this to our attention. But we do not want to bring outside people into this discussion where they're not trained economists, something to that effect. And Greenspan said the exact same thing in like 05 in the minutes. He says, we do not, on the housing bubble, he says something like, we do not want to let other people who are involved in the conversation about a housing bubble who are not as informed as we are. Exactly. And so these guys are clowns. There's nobody more clueless than an academic economist I found over the years. They have zero self-awareness. There's no accountability. None of them are elected. Then they get rewarded at Citadel and PIMCO. I mean, Bernanke should be, you know, on a desert island eating scorpions, in my opinion, but somehow he wins a Nobel, well, asparagus prize, you know, Nobel prize. It's a joke. We've got to get rid of these clowns. We've got to get rid of the same clowns that we've had for the last 20, 30 years. And that includes politicians, and that includes economists, and everybody else.

So anyway, do you want to have some final thoughts, Marty, or are we going to go on here for 15 hours? We could go for as long as you gentlemen would like to. I just wanted to make it known, you guys, you just made the case for Bitcoin without knowing it. Let me ask you, Alan, are you really comfortable? Because I'm reading CBDC articles saying they're just going to swallow the whole fucking wad of shit are you confident that that's not true that that's just blarney

i mean they're definitely going to try the cbdc but it's going to be such a terrible uh product from a freedom perspective it's going to be pulled under one big thing called fast fast i haven't read that follow the whole fucking thing up they're going to try to but i don't think they're to be successful um i read the bank for international settlements blueprint for the future monetary system of the world which is cbdc what they're trying to do just from like a technical perspective understanding the software of it like it's not going to work it's too complex it's too complicated and good again the user experience is going to be terrible the first

time somebody goes to a store and they say hey you can't buy meat because you've used up too too many carbon credits this month. They're gonna look for an alternative. That's the horror story, though. That is the horror story. They can't stop, and it's my opinion that it's gonna be very hard to stop Bitcoin. I think the cat's already out of the bag.

Now, is there any way that Bitcoin could lose to another crypto? No, I don't think so. I don't think so. Where are you on crypto, Rudy? I've never actually noticed. My usual answer is I got nothing against it. I'm not really a crypto guy.

I never got into it. I was telling Marty I could be a billionaire because I could have bought it all day. My line of thinking was more like yours. Of course, we're both Luddites. I always thought even years ago that if it ever became a threat to the U.S. dollar, I mean, I have people telling me it's going to be the world reserve currency and all that. I'm just looking at them like, if this thing is ever a real threat to the U.S. dollar, they will crush it like a bug and i know people like say well they can't crush it because yeah

but they can they can sentence you to 20 years in jail in the u.s if you're caught using it in any way shape or form and you know the surveillance state now is they know everything you're doing and they can track bitcoin too right so watching the j6 and shit tells you tells you that they're not afraid to just come in full stalin mode yeah buy a faraday bag yeah Yeah. Yeah. As Marty knows, I've been hanging off the precipice, not I've never shit on the hodlers. At times I'll shit on the the naive hodlers. Right. You got your share of whack jobs. Not not like equity buyers don't. But but the hodlers community is the youngest investment community probably in the history of investing. But but revolutions are not fueled by old men.

and so talk about larry fink i mean now he's in bitcoin and he's back i've never i mean i've defended bitcoin uh and i distinguish bitcoin from crypto where crypto is with their 11 20 000 coins is a joke it's a and and the nft thing i never bought into that crap but i can understand uh a bitcoin i've never argued against i've never i certainly am not opposed to making it illegal or anything like that but money but but and also also it was like i wasn't really paying much attention to it. And then I noticed that, look who's attacking it, you know, Lagarde, you know, Augustine Carstens. I mean, all the usual suspects of psychopaths that run this world. And I go, okay, there must be something to it if these guys really hate it. But then now I'm

kind of thrown for a loop because now Larry Fink's going to come in and, you know, so I don't know what to make of it. I got nothing against it. I actually own a very small amount. So maybe I hope it goes to 800 billion or something and then, you know, I'll be okay. And the one thing I will say about it is i've met a lot of um people who uh young bitcoin people who so at first they kind of try and pound me like dude you gotta get into bitcoin but after a while i think they figure out that i'm not their enemy and i'm actually on their side on a lot of things no common ground again there's a lot of overlap and it's and if anything i'm very happy that a lot of these young people through bitcoin have become educated about our financial system and about how what the fed does

and and the history of monetary policy and i think that's fantastic and i don't care whether they own bitcoin or gold or ibm shares i mean i'm glad that they're learning history because i think beyond the money aspect of it the bitcoin aspect of it they'll this will help affect their decisions when they vote for somebody say or when they um you know make make decisions they're gonna they tend to side with the people who aren't the ones that want to control your life from the top down and you know bitcoin serves a similar function that the mmt wackadoodles those guys are whack um served was that um despite their completely cockeyed thinking about how to run a government by just printing money they did the best job of articulating how the banking system

works level saying this is how the banking system works over that's great but your model includes provisions for handling inflation right now and you're going to just tax it out of circulation yeah i kind of i kind of have to to get going in a bit i just uh if you don't mind i'll just leave a little or end with a little comment here and that like you were saying you know it's kind of a you know we get in a lot of dark topics on this or or unpleasant topics but it's I think people should, instead of doing top-down like the Augustine Carstens of the world want to do, do bottom-up, concentrate on your life, on your family, on your friends, on your community, vote local, get some, like, whoever I vote for for president, it's not going to matter at all, zero. I have no influence on that. But I can, yeah, Whitney's awesome, recommend her for anything she writes.

But you vote local elections, get some bottom-up, vote for city council. vote for your state senator you're you know and um and hopefully we can i think i'm doing a little use and dave and and marty in educating people and discuss and getting people to think about things we never thought about before and i hopefully try and do it in an entertaining way so i i just want to leave people instead of thinking like oh the world's going to collapse well you know the world only ends once so you know let's let's try and bottoms up bottoms up help your local community anyway that's my two cents so completely agree senses um learn small footprint and save find a way thank thank you by the way you two i yeah i i have to get

going but i really appreciate this and of course i could talk for another eight hours and so you know i'm like dave i could go on or keep going but but i do you know i'm up to do this again another yeah you should definitely do it again hop off we'll bad talk you some that's fine that's i expect nothing less but uh anyway i appreciate it guys and uh thank you and nice to meet both of you thank you rudy it was a pleasure all right take care marty was one was our fifth podcast maybe yeah it's way up there it's way up there i will say like bitcoin is grassroots it is emergent and that's the uh you said the word that many people don't like to say within bitcoin but it's true it is a revolution i do think it is the millennials uh redemption arc where i think

if you talk to people in the space that are actually working and building on it like we're willing to die on this hill like we're taking the power right it's going to be the battle of the bastards yeah and i could end up buying bitcoin sooner secondarily actually because i'm i have a decent infatuation with the guys at horizon kinetics and Stahl, the head of the operation, who's got a good head on his shoulders, is a super hodler. And I could imagine saying, okay, fuck it, Murray, just take my money, invest it in the various ways that you do,

which will include Bitcoin. I just, and if I ever do decide to buy it, I'm just going to contact you and you said you'd walk me through buying Bitcoin. And so at some point, I'm just, you know me, I'm waiting for some moment where it's gonna be a click. I'm gonna go, this is the team that's gonna win. And when that click occurs, then I'm gonna go,

people always want me to buy just a little bit. I go, a little bit won't change my life. I don't need a little bit, right? You gotta either do balls to the wall because you're talking about your savings, right? Well, we're less than a year out from the next Bitcoin subsidy halving. So it's only gonna get much scarcer in April of next year.

Yeah, I know. Fascinating problems. Great to have Rudy on here. It's great to have Rudy on. Thank you for putting that together. I mean, I was just happy to be live with- Say thank Rudy for that. Rudy just reached out to me and said,

let's do a podcast, who do you want? So we'll see if we can get this one totally viral and uh and uh i gave him three names i don't i don't think i'm gonna tell the other two how close they were to getting whatever the hell this thing ends up being um well i'm honored that i was one of the three names that i was chosen you're number one you got it and uh and uh and you're a millennial so that's quite a feat we get a bad rap i'm telling you you do you do get a bad rap you do uh it's it's a pejorative it's like conspiracy theorist right it's the same sort of idea oh millennial oh it must be a douchebag it's like no he was

born 40 years ago that's all it means i did uh not for it not quite yet 32. all right we're there we got uh eight more years you have two kids now how old are they three and one oh boy tell me two wasn't spectacular two was two was fine three's been worse and now two is bad i love two i love i thought two was phenomenal because the coming out of their mouth you go holy that's what you've been thinking you know and i just bought a boston terrier yesterday so i'm up to three now so the famous charlie has competition this one's a sweetheart of a dog she's very cute she's very she's pretty she's remarkably but charlie became a legend on pomp's podcast when when i must have said fucking charlie at least eight times during the you wouldn't let me finish

the podcast um he uh he became a legend on this one too because he snored for about an hour and a half on the last one then i finally heard it i go oh like shit he was it was really he was really sawing wood i know and then there's the podcast we did where i didn't know it but i was in the dark oh yeah the sun went down behind you i went down and i'm sitting there looking at a bright screen and at the end you go by the way you're in the pitch black for the last hour and a half and it's never boring you know you know drinking piss during a podcast doing my gandhi imitation you know there's all sorts of shit um yeah i mean i'm as optimistic as ever uh things are dire a lot of the shit we talked about is dire but again via bitcoin and other grassroots movements

like the the opportunity to fight back against these bastards has never been easier there's a thing called hyper normalization where um it's i'm trying to remember the guy's name who coined it who's written books on it um and it's where you get you know that everything's really really really bleak like a ruski during the soviet era and yet you can see absolutely no way out and that's what he calls hyper normalization so you ask a ruski back in you know the 70s they go i have nothing to look forward to right and i think the us is hyper normalizing and as you said the hodlers see a way out um but a lot of people don't see a way out i keep thinking of the lyrics of the song eleanor rigby um you know look at all the lonely people right i

i about post coven for me i see people and i go they kind of look like they're just kind of going through the motions and they could be in my head right maybe they're happy as clams but i i see people and it's just everything seems broken right the medical system is a disaster now because they they took a system that was under pressure from aging boomers getting old they they locked it down so that it produced a huge backlog and then they made them vaccines produced a huge attrition and so now we have a medical system where you know you want something done it takes six months and truckers they can't find truckers they came out and somehow it seems like seems like a controlled demolition to me right it doesn't seem if if you wanted to destroy the united

states because you were a globalist and we were in the way they've done an excellent job yes i completely agree and going back to your anecdote about the questionnaire responses from your students this semester like i wonder if there's like something psychologically again in the inflation data or them just feeling it in their everyday lives or being more aware of it where i think because i'm openly right wing i think that that causes trouble i also as you know got canceled a couple years ago so if you google my name you know you google you know war criminal of all time you see stalin column gaddafi you know and and uh and so you know i voted class clown i used to used to love the the lectures because i would tell these funny

stories and now they just they don't seem to appreciate them one day i was in i was i gave a guest lecture and i noticed that that i was arguing that the things i was telling them i didn't believe so you guess lectures you're just burning the clock but i was arguing i'd show some mechanism of a reaction and i say but i i this is probably not true for the following reason no one studied it blah blah blah and in the middle i said you notice i'm i'm constantly denouncing because everything we've ever studied turned out to be wrong when we finally dug in and looked at it. And then I said, matter of factly, just parenthetically,

I said, you know those Vegas shootings? I said, there's something wrong with those. I'm digging into it. And I didn't say anything else. I said, there's something wrong with that story. Now there's a whole documentary I wrote about it. Anyone who's looked into it says, holy shit, they're wrong from head to toe.

I ended up in the chair's office on that one. I just said, there's something wrong with the Vegas shootings. I'm gonna dig into it. I ended up in the chair's office. To deal with a complaint, any complaint, I had a more recent one where they, I retweeted an Eddie Dowd tweet.

I retweeted an Eddie Dowd tweet. It turns out it takes six signatures to put the thing to rest. So the chair, who's a very good friend of mine, he was my former associate chair when I was department chair. He walks in my office and he says, well he's i said what's up you don't come here when there's not a problem he says yeah there's

such and such a tweet like you got to be kidding me and he he he needed an answer out of me to finish the the whole wrap this whole you know cluster up and put it to rest and he said what can what can i say and i said i said well tell them tell me go themselves up the ass well i'm kind of looking for something a little better than that and i said okay let's let's re-couch that right i am ready to do battle i don't think they're going to come at me again because i think they've decided i can't be touched because they've tried a few times but i'm ready to do battle they come at me again i'm going open warfare first i'll talk to cornell and say look how do you want to handle this i'll give them a chance because i i don't want to go to war

cause Cornell trouble when they don't need it, right? But the last, when I got canceled, they threw me under the bus a little bit. The president of the university threw me under the bus a little bit. And it stopped it. But I'm going, you know, they said that my values weren't those of Cornell. And then I actually wrote about what I actually tweeted about. And at the end, i pointed out the guy was a total grifter that i was dead right and i said are you sure my values don't represent your values no but cornell was just trying to get it right they were just they're they're just they're just trying to make not blow up in their face they don't need a big national story about a bunch of heads there so so i'd first approach cornell

say look these guys are coming at me if you shut your mouth i shut my mouth it'll just go away if you want to make a big deal i'll go to war give me give me the call and i think they won't i think they're pretty good i know cornell legal i beat two labor union movements working with cornell legal to do it they know they owe me so um so i think cornell i think cornell's a good administration actually i i think universities are not as bad as people think but but if you're a parent you got a kid heading off to college look over their shoulder and ask them what are are they studying it because you go to cornell and you take a fucking four credit hour course on fucking gender you just spent ten thousand dollars to listen to some fucking bulldog talk

about some bullshit topic by the way that seems scary right that's a kind of an inflammatory statement i'm 68 fucking years old by the time they get me i'm gonna be 70 and so i don't give a fuck these idiots these idiots who are teaching this crap someone's got to call them out get matt walsh to come to campus and give them hell yeah no it goes back to rudy's point too like we really need to bring back strong nuclear families where the parents are very small there's the horror story the fucking horror story there's there's like middle schools with like 70 trans one school that is not biology that is not dysmorphia that is a social movement right but here's the fucking problem you got parents who are signing off on it because they're fucking stupid

instead what they should be doing is say okay bob or bob at or whatever you want to be called let's let's talk about this a little bit you know and by the way no you're not going to get hormone injections because uh and you're i'm not going to let you get a tattoo on your fucking forehead and uh and if when you're 18 and you still want to do it i'll back you right but and we're going to end up with a whole generation with a ton of fucking kids who totally fucked themselves up and and they're going to be saying to their parents where were you when i needed you why did you not stop me from chemically castrating myself where were the parents to say well you know may sound like a good idea now but it's not it's a bad idea well it goes back to your point on

hyper normalization like i think a lot of that's driven by worry about what their peers think about them not being accepting. But I saw this amazing video by a 10-year veteran of transgender. And it was a current dude. And he was very convincing, right? He looked like a dude. He had a beard.

He sounded good. He was kind of handsome. You know, no problem whatsoever. And he was kind of weepy-eyed talking about how bad it is. And his point was not that he made a mistake. he said it was it was a lonely existence and of course your first reflex is well dude you're transgender and so it's not going to be easy to make friends because that's just not normal that's

not going to go well down at the moose club and whatever you know and and so why are you surprised but that was not his point either his point was that living the life of a man is lonely by the standards of a woman so he's saying i walk down the street and people walk around me to avoid me and things like that he says i he he thought that living the life of a man was going to be some utopian thing you hurt your fucking self they don't say oh you know let me help you they go no suck it up buttercup what are you some kind of pussy and and and and we have to suck shit up it's just what we're called to do and this transgender didn't know that's what he would experience when he became a dude and and and it was it was a moving talk speech it was actually

rather compelling he just said i just didn't know how lonely it was being a dude yeah no i saw that as well it's well done yeah but did you take a while to understand what his point was going to at first you're thinking well you know no one likes me because i'm kind of crazy you know now that was not his point at all his point was being a guy has its downside yeah like i would not have been able to tell that dude transition from oh no not at all no that was that that was a highly successful transition that was you know they they're bitching about putting you know transgender women into beauty pageants i go i don't have a problem with that as long as you don't just give them the wind out of some social reason if they if they if some dude can win on the looks category

god damn that guy should get some sort of metal right i mean that's amazing you've seen transgenders you'd tap in a heartbeat right i mean you might decide at the last minute when you find out what you were doing but but but but you don't want to be putting big fat transgenders who are ugly into beauty pageants and giving them the gold medal yeah it's stupid yeah yeah it is crazy how it's like a social contagion particularly at like the lower levels contagion and and by the way this this my obsession over pedophilia is a non-trivial topic so the the sound of freedom and all that shit is kind of blowing up you dig into the sound of freedom it's a little ambiguous what that movie's about it's a limited hangout well it's um

so first what it looks like is just a great feel good story about a guy doing the right thing and and you're going why is the media beating the shit out of it well i don't know except for the fact that my one obvious conclusion is is that it's embarrassing to people who are in positions of power who get blow jobs from five-year-olds right and i think there's my suspicion i think there's a ton of them i think it's everywhere and i actually think i have this working hypothesis i have two two curious sort of phrases i use one is we fictionalize reality so what do you do reality is mk ultra fictionalized reality is born identity so by making the born identity which i think is

spot on mk ultra um you make people think of the mk ultra story as fiction so your friend and and so you look at all these movies you go holy shit they all look like the reality that we're trying to uncover and people say ah that's just the born identity so that it's dismissible um in this book the franklin scandal they don't hit it hard but they're there's there's you know crackheads, former abused children, guys who corroborate with each other that they watched adult men having sex with five-year-olds and choking them to death. Real satanic crap. Now, Sound of Freedom, one of the problems with it, there were two problems. One is my wife picked up right away. He went in, did you see the movie? No, not yet. He went in to save like 50 kids and

He comes out with him and it's a real feel good thing. The but the girl he was inspired to go get wasn't in the group. And so he went deep into the Columbia jungle, risking 95 percent chance of dying. From these Colombian drug lords and gets the girl and suppose he's a true story. He had seven kids at home. my wife shit a brick right away and said you should never leave seven kids at home to do something like that that's not responsible at all and i'm going you know that's right then um the second thing is the movie maybe judiciously showed the pervs as pervs you know the creepy

looking guy with the van you know with it you know there was they in no way implied that senators and congressmen are buying these kits which i think they are you start googling should i mention it in my doctor zoom group and i said i'm on this theme and i that what it gets me is it gets me an explanation for why people do completely and utterly irrational things that it's just unexplainable why did prince andrew do an interview because someone told him he had to mm-hmm right he didn't blow it he was told to go to the go into the jaws of death there you got to do it now prince and uh and so um i i think they also they don't corrupt powerful people they corrupt them before they give them power

if you can't be corrupted you don't get the gig and i think hollywood's particularly bad i think in hollywood it's like you i think they probably say here's a five-year-old you're gonna get a blow job we're gonna film you or you're not getting a good part you want this part you gotta do it i think it's that bad so then i'm watching uh cory feldman you ever seen that tape where he's on the view and pedophilia is rampant in hollywood and who attacked names but who attacked him so the appropriate thing to do then to say oh that's really awful let's go to commercial what the fuck you doing right that that's what you would do but that's not what she did barbara walters attacked him and i'm going why is barbara walters attacking a guy who says there's a pedophilia

problem in Hollywood. That's one of those, holy fuck, we should look into it, right? But that's not what he did. Then I'm reading one of my books and they point out that Barbara Walters was tight as tight could be. They used to joke about them being married. They were so tight with Roy Cohn. And I go, boy, that plot just thickened. So I'm on this Dr. Zoom group and I mentioned I'm going down this dark path and there's a chat board and also the links start popping up my doctor zoom group with very elite doctors from all over the world start poking up links and i'm like copying and pasting this fasting and i'm going through them and there's so much bizarre out there and one of the theories out there is that this this movies just just just a front

society it's a limited hangout i mean when you look into uh like the the people that funded it and that the original dhs um guy or connect with the movies based off of are creepy yeah which creepy the guys who funded it and so then so then i start getting links to like the national center for missing children missing and abused children right and within no time at all you become convinced based on all their connections they're just a clinton foundation look-alike they're just laundering scheme and the laundering being let's get huge fucking money out of governments to find missing children and forget about the fact that we never ever bring one home and then you find documentaries of you know 50 fucking powerful people who got

caught and they show you what the punishments were and they were nothing one chick got caught trafficking 33 fucking kids in haiti where she worked she she calls in the clintons and gets them off gets herself working for like the amber alert system or something like that amber alert system yes holy moly what a funny story that is right and so you start finding all these stories and you go holy shit the whole thing is just a scam and that gets back you know rudy wants to look at the bright side and rudy is very upbeat in this very dark way and i'm looking at this shit going god it seems like we should just scrub the planet of humanity and just start over find something let the apes give it a shot let's do let's do planet of the

apes um i mean you're talking to somebody who went down a pretty deep pizzagate rabbit hole back in the day well where do you stand on pizzagate because i'm pretty convinced that pizzagate has reality to it i just don't know which part of it we got duped on i think pizzagate and the hamlin story in many ways are similar they threw out bogeys to make to bait people into taking the wrong path i agree it's similar to qa non i mean the emails that wiki leaks found i mean particularly between hillary and john podesta are like yeah let's have sixty thousand dollar budget for pizza and you know and the symbol for pedophilia that triangle thing it's everywhere. You see the 33? You see the 33 crap? 33 were the number. And they're going, oh, you

know, we have 33 new cases of COVID in Santa Monica County, right? Oh, we have 33 new cases of COVID in the state of Montana. Oh, we got 33 new cases. 33 is everywhere. And you go, what? And then I'm watching McCarthy get his standing ovation for finally on 12 fucking votes later or something, becoming Speaker of the House. And there's a guy sitting behind him and you can't see his head. And the guy's sitting behind him and he has his hands on the table and he does that. And then he pulls his hands away. And then you can watch another one where it was Mitch McConnell and he's talking. And he's saying something and he looks around behind him and there's some guy who'd put his hands on the table and did that right behind him. And then took his

hands out mcconnell looks over his shoulder what the fuck's that you know so i i think these guys are dark motherfuckers and i think the problem is and and spirit cooking the only thing i don't know is whether they eat real people right they don't take pictures of the real people that they show that's right but if you had a better a paycheck would you bet they eat real people or not yeah i'd bet i'd bet too and the hollywood elite is all over the spirit cooking story oh and that's what the guy asked he said i want to ask you about demar hamlin and chris rock getting slapped and i said oh those are two fascinatingly related stories right those are two stories that seem to have nothing to do with the bad darkness

but then the demar hamlin looks like was designed to make us fall for a trap right he really didn't show his face for a long time and he really hit his face for a long time and he really didn't you're going no this guy's not alive there's something going on here and then he shows up and he uh i feel like such an idiot last week or two amy fox chris rock though knew he was who's gonna get slapped. Why hasn't he stepped out and said, "'Hey, Will and I, Will Smith and I, we set that up.' That was all for just fun.

He let Will Smith hang out there. Did Will Smith, did he have to do it, right? Chris Rock knew he was about to take one in the chops. You can see it, lean into it, grimace into it, hands behind his back, right? Everything about it. Someone broke down the slap and it's like, yeah, he knew it was coming.

And I figured any day he's going to say, oh, yeah, we just set it up. And even if it wasn't set up, they were friends. You'd say Chris would have and then say, look, he set it up. You say, well, you douchebag, but I'm going to save you on this one. That's what you do. What is all that weird shit? I don't know. It's all weird.

I've gone deep down these rabbit holes. And again, that's why I focus on Bitcoin. I don't think there's anything we can do through the system as it stands today to fix these problems. but yeah i mean it would help and that's clearly not the case now no but like i've gone into this with whitney too in a couple episodes but if you go into like the founding of the fbi and cia like there was a satanic um there was open satanists and it's all it's all one big humiliation ritual um where like you're mentioning my ass when whitney was doing a podcast with that who's that rough and tough he looks arab to me um pdb or something um yeah pat david batman or whatever

yeah and she burst into tears and i don't know anyone tougher than whitney webb right and she burst into tears and it was it's clear she was just out of gas on these incredibly dark topics yeah yeah it's bad i mean if you go into the history of hollywood too particularly in the 70s there was like a very open satanic group that sort of spread their their through this just to tell a story so people so people know that it's there yeah i mean it doesn't change anything i just want people you know when i wrote about the vegas shoot i don't think you could read it without going holy shit there is something fucked up there yeah i mean there's some i mean there's one good theory that that was one big

satanic sort of a cult ritual um the other theory is that the the saudis took trying to take i did a couple of podcasts with john cullen and he his theories are interesting but he seems to sort of selectively take the stuff that he makes sense to him and not worry about the stuff that doesn't and the saudi theory is what they're in a bunch of blackhawk helicopters yeah but there was too much weird shit at the ground level so it couldn't just Blackhawks it just couldn't be that um but but who was I talking to I was talking to someone the other day and I said 9-11 do you know anyone who believes 9-11 was legitimately Arabs no not anymore I've never shown anyone building seven clubs and worse than building seven I think is

lack of footage of the pentagon right building seven theoretically i could imagine somehow some way the building got damaged but there's no way you can sneak a jumbo jet into washington dc with more cameras per square inch than any city in the country with 45 minutes notice and not get footage of the pentagon getting whacked yeah there's none right there's none no so you go Back to the pedo stuff, too. Like, there's, like, instances, like, Dennis Hastert, speaker of the house. He got caught, or he somehow, you know, something happened, and every once in a while, you know, Epstein had to take one.

Ghislaine had to do something. Ghislaine won't be in jail for 20 years. Andrew Breitbart tweeting about John Podesta and then dying of a heart attack not too long after. Oh, by the way, in the Franklin scandal, the bulldog investigator into the pedophile ring turns out his plane blew up. the scary thing about the franklin scandal is that it was a penny ante looking pedophile ring that drew huge cover-up from very high places you're going why are they responding at that

level to that yeah something stinks and again during covid when all that stuff was going down i found out in some deep rabbit holes i've since come out but but you don't come out realize you made a mistake you came out because you it's not worth any more effort yeah exactly it's too many sleepless nights too much uh well those are very dark right i used to love writing about stupid things like night trading blowing up in 45 minutes and things like that those are those are those are just you know those are rib tickling funny but um and even you know Corzine getting off. Who wrote the book, by the way, that looked at the legal side of the 08-09 crisis? Well, a prominent author wrote a book about the legal battles behind the scene that

was a very good book. I can't remember the author. It was some journalist who wrote a book about it. And I can find it if I ever have to, but I don't have Rudy's recall. But someone wrote a book about it and they explained how the prosecutors really did try to go at the guys and they labored to piece together an airtight case to put some fucking guy in prison to hope the house of cards starts to fall and then an appeals court would spend three hours and overturn it they said they said three fucking hours you guys looked at the data for three fucking hours it's like the oj acquittal right yeah yeah it's all a big scam all around and it does get yeah if you dive deep down the rabbit holes and you stay down there it

can become all incumbents they have to come up there they have to come up for air yeah you know what i mean i do think the evidence is quite clear that um elite pedophile rings exist um well yeah no one even denies that there's a couple million kids a year missing And I love the guys who are all self-assured buying their electric cars, ignoring the fact that 75% of cobalt is being mined by child slave labor. It's like, how do you sleep at night buying that fucking Tesla, knowing that slave labor and open pit mines, children with hammers mining cobalt? The car's so quiet, it just lulls you to sleep. It's pretty easy. You know, you have a large engine.

And I just saw Biden guys want to shut down basically almost all of the gas generators, want to make them code. Why? That's one of those things where you go, why? It's controlled demolition type stuff. Right. But it gets to the, you know, why would you destroy one of the, you know, one of the studs in the wall that represents the United States of America? Why would you do that? And I don't like the, oh, it's all money. I don't like that. It's just too trivial. i tend to agree with something you said earlier which is we've been under a color revolution for some time some slow methodical deconstruction at the university level at the monetary policy level the civil liberties level for decades that um to go globalist which i mean they openly state

they want to go globalist so i i don't see how you argue with that one um that you really have to knock the U.S. off, right? You really got to take us down. And you're not going to pull battleships up to the shore, right? That's not going to work. So you got to get us to destroy ourselves. We're doing a fine job at that. But you also, you can buy off the rich. You can step on the poor. It's the U.S. middle class that's this unique problem. It's the flyover states. it's the guys who went to january 6th it's it's it's peep and and so you so you have to destroy that and then you start looking well what soros doing what did the lockdowns do the lockdowns took out so many mom and pop businesses you know the half a brain could see the destruction you were

doing to the the core of our system destroying children destroying them by locking them out of school and shit and and going after the churches right i'm i'm not religious i used to say i was atheist i used to think religion was a problem and i've done a complete flip i go i find myself the guys who talk about god i go okay i'm not into the god thing but i agree with you on most of the shit you say and and i've written in defense of religion because i think the us is based on this judeo-christian ethic the principles that made us great are really founded on the church and you don't have to want to go to church to to recognize that you tear that down you will tear down an important structural element and so i've flipped on that and that's i mean like you said

the u.s is the last bastion for this and that's why it's imperative this next decade's vital for the future of humanity this is where the fourth turning comes in right this this is real and then the question is is is the u.s cyclical or is this an ending thing right does what come out the other side is it sufficiently unrecognizable that will we you know i went through the 70s and i guarantee you in the 70s you did not see the 80s coming you absolutely did not see the 80s coming so in the 70s everything sucks japan's kicking our asses we got double digit we all sorts of problems the 80s sort of came out of nowhere and all of a sudden we're rocking we're controlling major industries again we're and you just didn't see it coming the question is is that going to happen

again after we fuck ourselves up a lot or not i don't know but we do have um i don't think we have a good military the way we thought we did i think that we just ran out of ammunitionists in ukraine that's not a good sign our military is really designed to blow up banana republics not peers and um and but we do have we do have great resources a lot of land you know despite the fact bill gates is buying it all for reasons that are unknown right why is bill buying up all the farm land is that an investment it's where he's going to raise all the bugs that he's going to feed us fake me i'm not eating bugs there's no way i'm eating bugs i've heard it's a play for uh co2 pipelines that are gonna have to run through all that land

so he's just gonna do pipelines those are real smart jesus christ how stupid do you have to be to believe that and the real stupid one uber stupid one are the geoengineering guys who want to raise in the atmosphere and put a big black cloud around the the air so it doesn't get fucking hot and i'm going do you have any idea what you're fucking with dave it's a humiliation ritual in one side in one side of their mouth they're saying we need to transition the grids to solar and then not months later out the other side they're saying oh by the way we're gonna blot out the sun in a few years it's like what that is a funny i actually hadn't put that two and two together quite as clearly as you just did and meanwhile by putting

in a very undependable electric system we're going to get rid of all the generators that could be used to bridge gaps when they appear yeah oh my god yeah it seems like a calculated methodical controlled demolition just which is more imaginable than that level of stupidity so hanlon's razor said don't you know chuck off to to nefarious behavior what you can chuck off to stupidity. And I'm going, yeah, Hanlon was probably a fucking CIA guy. I mean, it's, it's become obvious to me at this point. It seems that way, but you know, I still go to the store and see people wearing masks.

What are you doing? Is it not obvious that this fucking thing is either a never really was a big deal by the way i was reading articles the other day that the flu vaccines i always said well it's got to be something real because you know you lost sense of taste that's kind of weird i just read an article said no you can lose sense of taste with the flu i go i didn't know that um i hate the money argument it's not just the money no it's the control it's control what is it just sick psycho fox i think so that's what i've come to believe i guess you know why would mao kill 40 million chinese right yeah it's uh

yeah yeah well 80 million russians or whatever the number was yeah and the scale that it's at the federal government and their military industrial complex like it's massive like they can get a lot of control with all the power that they have and you just fall back on the heuristic that nobody who's a sensible human that just wants to raise a family do their job by the way we're being floated on a bed of air in the equity markets by 10 companies 10 companies which i would say some of which are total garbage right like facebook facebook could go away today who the fuck cares you go well you know facebook's make a lot of money i go didn't say that i said they're garbage um um tesla doesn't really know how to make cars

right by the time they know how to make cars all their patent coverage will be gone right everyone will figure out how to make fucking batteries the way tesla makes batteries and and nvidia is trading at 45 times revenue 45 times sun microsystem was trading at 10 times revenue when they did their what 98 swan dive um and and and um and and then there's the ones that are profitable though you say facebook well it's profitable you know google is profitable but then you listen to someone like katherine austin fits and she says they stole 20 trillion via from the pentagon so well you know if if that money's flowing into facebook and google they're gonna pretty good cash flow it is not it is not capitalism it is not it's not wealth creation

it's just pilfering money yeah and it seems like they're trying to do it as quickly as possible because i do believe that that system is collapsing under its own weight in real time slowly but surely um and that i mean you're seeing it like crazy like that we mentioned it earlier but like that call for censorship last week by the democrats during that hearing was astonishing see see the problem is rudy kind of takes a you know right left equal bias and i don't get there hi rudy i know you're listening um revolutions come from the left and the right and i think this one's coming from the left i think this is i i don't i don't see the right wing acting abnormal i i don't see i hear rumors of white supremacy if you paid me a hundred

bucks for every white supremacist i would not get rich looking for them i don't know where they're hanging out i mean i could go find hell's angels or something i agree but the republicans the conservative side there's wholly ineffective well are they but are they ineffective by design maybe they should look like they're trying to win no that's again just join us with bitcoin have that switch go off let me know what i can do to help you flip the switch because that's what i'll need to do point i'll do it just take away their ability to print money and throw it all this and have sanity return to the world yeah i've told you before i looked at bitcoin at 10 bucks and and it does shouldn't matter right it's a good idea if it's a good idea right

um but passing a 10 and buying at 30 000 there's issues there and that's not what stops me though i mean i bought exxon two years ago and as far as i know exxon's appreciated a lot over the last hundred years so that's let me do let me do um some calculation here that would be 3000x so to do the same thing here that's masco faucets did you know that masco faucets was the highest returning stock in its era yeah the one iron profit if we were to repeat that that would be like a 90 million per coin bitcoin which you may laugh i don't think that's out of the realm of possibility i have no idea That's the problem. I mean, I see. See, when I buy Rio Tinto shares, I can kind of look at how much they're mining out of the ground and kind of look at where their minds are.

And I can kind of wrap my brain around it and say, look, I'm pretty sure it's not going to go up 30 fold. And I'm pretty sure I Michael Burry said, look, your default setting for any investment should be that if it goes down, you just hold on to it. that puts a serious constraint on a lot of investments. What it does is it says, buy something that's a revenue stream. Buy, you know, if you bought a, I tell people, so the 10 super stocks have been bugging me.

There's 10 stocks that are floating the entire S&P. And the articles are all, you should have bought these 10 stocks. I go, thank you very fucking much, but I didn't know they were gonna be the 10 and no one did. And they're all, you're just blowing hot air if you think they all did.

And, by the way, no one can tell me what the next 10 are going to be. And Buffett made a great case for why you won't know what the next 10 are going to be. And so that then says, well, then you better buy all 500 to hope to get the 10. But that just is a case for indexing. And I think the indexing story is going to go away. I think even Michael Green is starting to twitch a little bit. His fund doesn't return shit. What's that?

His fund doesn't return anything. And well, that may be, you know, but I'm a Hussman fan too, and he's gotten clobbered. So outcome is not my metric. But what it means is there's 490 companies that are paying investors nothing. And then the question is, you know, if you bought 10 gas stations and you paid some number of times revenue, at the end of the year, if you don't have money in the bank, you really fucked up. They put out a revenue.

and if they don't put out a revenue every year you're just back to where you started that's a dumb investment that means you should sell those suckers so we got 490 huge companies for which somehow the trickle down never seems to get to the investors and that sounds like the canthalon effect to me yeah i mean you mentioned you know there's indexing and they go but we don't care if millions of people don't get paid yeah i mean you mentioned einhorn earlier i actually listened to a podcast with him a few days ago that i recorded recently with patrick o'shaughnessy and that was the case uh with patrick o'shaughnessy yeah invest like the best and he was saying that value investing is dead

like like his yeah i i think he's i think there's some tongue in cheek there when when einhorn said you know you can buy companies with the pe of five returning 20 on investment and they're they're just no one cares and as i said to him sitting at a dinner one night i said you just hold it that's a 20 royalty trust for christ sakes and and and he knows that so when he says there are when he says they're not good what he's saying is they're just not in favor right now but if you can you show me a company that that you can earn 20 cash flow on your investment i will buy that all day long yeah and he knows that too now he also and i'm gonna i don't like quoting him because he told me not you but he he also said i'm more i'm less

bearish than i was x months ago when we were last together i go really and he said yeah and then he said he he said well yeah i think the whole thing's gonna collapse in the fall but i'm less bearish now and i'm going david i don't if i know happening in the fall i'm out i'm gone right yeah you tell me what's going to happen in five years i'll go be either out or in you know i don't need to know that's the michael berry model right that's the peter rich model buy that's gonna over time go up yeah i think bitcoin falls into that bucket of if you will yeah it could it could it's just so complicated to me i know you think it's simple no no no it's emotionally complicated yeah we're making progress it's been three or four years

that we've been doing this now this is uh the most bullish i've ever heard you so right fairly bullish i just i just think there'll be a time when i know to do it and it's not going to be the price it's not about the price what do you think it's going to be it's got to be some point where i'm going to go the bitcoin guys have the have control now right now you got a team on the field but this is like it's bayesian it's bayesian statistics for me so it's the first quarter and you guys have thrown some nice passes okay all right i'll keep that in mind or i say okay i'm packing up my goddamn cushion i'm going home because they fucking won right or oh they're it's 50 to nothing at this point you know and and so there's going to be a moment where bitcoin

where it looks like they're going to win i think we're getting close to that moment believe it or not um he posted i know you think you're gonna win it period but the i think the most respected hodlers the ones who get the most respect out of me are the ones who acknowledge the ambiguity right if i'm talking he says you can't lose i go oh fuck you don't understand the structure of markets you don't understand politics enough you don't there are way too many ways this could go bad and it might be the best bet in town i'll give you that yeah my my bear case is that the cbdc gets introduced and it just delays the inevitable win for me but he said you know if they say look

you know we'll put you in jail for the rest of your life if you use bitcoin the last couple of years have convinced me that they ain't joking if they do that that there there's nothing that says they have to behave within the law normal law they already make it abundantly clear that there's a two-tier justice system here so yeah we all become julian assange at some point if we're not careful and that's the question is like how many assanges do other people see before they set up stand up and say wait a second this is really up now kill right stop the kill yeah and you know it doesn't take many before you go you know it's not worth it to me this is getting this is not fun yeah that's where i think um the most successful defense of bitcoin will come from

individual states part of the reason i live in texas like i think that may be a massive tipping point once you see states like texas florida wyoming right south dakota oklahoma kentucky tennessee like basically say federal government we're going to take care of what house do you remember that guy bernard von nut house no bernard von nut house made a bunch of silver coins that looked like currency one dollar coins i think they said u.s on them but they're clearly not us coins he wasn't counterfeiting they threw him jail for years for counterfeiting they said no you're too you flew too close to the sun on that one bernie right yeah you can't charge the rotunda either by the way

yeah i was like yeah you're damned if you do damned if you don't i guess that's tricky that's where it gets real tricky yeah you gotta keep pushing it knowing that the specter of getting tossed in the clinker is always on the horizon but yeah if not less than hell it's like the that's why i said ed dowd when i recorded with him a couple weeks ago like we need more people to stand up and have like a an i am spartacus moment where it's like it's literally something mental in in people's minds where you have to be fearful yeah and and i'm seeing progress right that's where elon although although um rudy was critical of twitter but the ability to stand up and say shit you couldn't say a year ago is really important that's where i think elon like if

look outside the uh political arena like he's a manchurian candidate of he's a deep stater everything he does is deep state i think what we're seeing now with twitter and the transition to x.com is a is a happy honeymoon period that will end pretty quickly like he wants to make this every single company he's ever done was a deep state company so there's but it's also possibly reach an age in his life where he said, I got to do something. I, by the way, my support of Trump, which isn't wild support, I actually wish someone would come along that would, I'd say that's great, is in part because I think his narcissism, which at first was buffoonery and it was just shallow narcissism, I think turned into a narcissism that was, I want to be one of

the great presidents and this is what i gotta do to be a great president and it's narcissism but it's well sculpted yeah weaponize the narcissism that's right by the way i read a book on narcissism they said trump wasn't the worst they said uh actually lbj was worse they said trump was very narcissistic but not clinically he wouldn't fall in he i don't know how you had not put him in a clinical narcissist category but um they were they were they talked about matter of fact like he's a narcissist but they were not brutal on him unfortunately the book was about how to deal with narcissists in your life it was more of a how-to when your husband's a narcissist your wife's a narcissist

something like that how do you handle it but um i think trump became his calling got higher and it's a narcissism but i think he does want to change the country because he wants to narcissistically be one of the greats yeah i'm with you though i wish it was so if we get another biden trump election it's like what the hell is going that'll be painful there's a chance i think they're so so um another person of prominence said i have reason to believe and it's not just a hunch that um michelle obama aka big mike um he's gonna run wants to wants to run but does not but does not want to campaign so they could be stalling to bring her in as the white knight excuse the phrase

but but they could be stalling to bring her in at the last minute and they got to wait long enough so that somehow kamala doesn't become an incumbent yeah the uh that's one of my theories too is there because gavin newsom's obviously detested by most of the country hillary unelectability quotient right i mean his he can't defend anything in california he's my wife says he's handsome i got he looks like a slimy eel to me i mean he looked like he looks like a pimp yeah that's my thing everybody's like oh they're just gonna put gavin newsom in i'm like no they're bringing michelle obama back they had her on i believe it was like some might have been oprah or

deep dark shit this deep dark fucking stuff oprah shows up a lot oh yeah she's in the middle of it what was that dude out of brazil she was like best friends with shows up in the middle of it the jeff koons balloon boy yeah that's weird stuff too yeah they always have schools in emerging countries as well emerging markets he hangs out with all the wrong people yeah he's on the wrong boards of directors and it just then there's a woman named liz crock and who's supposedly been battling this but you get liz's associations are a little sketchy now someone told me the other day i said i think she is the real deal i go yeah but she has some guilt by association from what her she's on board some of these international missing children foundations

and stuff interesting and i would think she'd be kind of toxic in that world yeah interesting limited hangouts everywhere what's that where'd that phrase come from limited hangout what's that the CIA I believe what does it mean what's the literal definition you you basically

give people like a part of the story to make it feel like you're being revealed something that you knew to be nefarious

but it's not the whole part of the city it's a limited are they being duped or are they do they knowingly do it the CIA

knowingly does it to yeah knowingly it's like a pressure were it's like a pressure relief valve like all right they're on to us like let's give them a little bit of information to make it seem like right but does the person who's who's appears to be the good guy do they actually think they're good guys and don't realize they're being played

or or is tucker carlson legit i mean he plays a great game yeah i don't know but but i wouldn't believe anyone i wouldn't trust anyone until i had a reason to trust him and tucker gets me as close as i can get but he has 41 000 hours of tapes or had him and he didn't release him yeah he tried to get into the cia when he was young which that's okay i can live with that it'll be cool but uh tucker's you know tucker comes from powerful sources yeah so i mean was one of the largest personalities in mainstream media and it's hard and then you go back like what you're talking about earlier at the cia with mockingbird and paperclip like you know that they've been using these mediums for decades what percentage of the fbi do you think

actually works on good stuff i don't know that's another trope it's like oh it's the higher ups or the bad like the the agents and middle management stepping on the stepping on it like crazy from the the low levels and they all ended up getting good deals afterwards it's really interesting at the end of the book he says this guy became this this guy became this this guy became this you know like in the vegas shooting one of the crisis actors mike crock was just some hick from alaska he became the alaska state senator this lombardo was the sheriff who said it was multiple shooters the next day said it was only one shooter he became i think the congressman or the governor of nevada of of nevada you know these guys get rewarded with positions of power

yeah i was up but i don't know how i don't there's a lot of problems with the uvalde shooting yep and it makes no sense i know just from nature of living in texas now i know people have family down there and apparently on the ground a lot of the families are like this does not make any sense well i mean you have 370 cops and not one of them ran in for 77 minutes right yeah you can pick five guys out of the phone book and three of them would have run in yeah right that's just what you're called to do that's when you know it's time you got a gun you go you certainly run to the shooter get closer right you certainly try to get within shooting distance to the guy

they didn't yeah they were like in the halls checking texts and stuff like that it was very two famous people two two heroes the mother who ran in and the the border guard off-duty border guard who ran in we don't know who they are they're they're not famous they've done no interviews on donahue-like shows why not yeah be heroes wouldn't they now when i watched her get interviewed she sounded like steven paddock's brother getting interviewed a lot of babbling no content contradictions she she told what happened and she contradicted herself repeatedly i'm going i don't think she ran in i don't think that's part of the story yeah and then you hear like on the ground reports that there were like

military planes like circling circling the area all day and saying what the hell was going on there yeah i don't even know if all the kids got killed i don't know i don't know if that's where and then you know sandy hook yeah you're about to get you're about to get us in aj territory right now i'm gonna get a billion dollar defamation suit yeah i know a mistake there but uh it's not a simple story how's that it's not a simple story no robbie parker right robbie yeah it's all weird i'll let you go you can delete that last part if you want you're gonna leave me good no we're gonna keep it in it's always a pleasure dave i'm glad we got birdie on that was good that was a cool yeah let me talk about pizzagate for an hour that's

yeah we'll try to get some momentum going all right i can't remember we'll post this tomorrow okay no problem adios see you dave peace peace peace love freaks