TFTC: A Bitcoin Podcast - #474: What's On Weiner's Laptop? with Dave Collum

Episode Date: January 17, 2024

Marty sits down with Dave Collum to discuss everything from child trafficking to Roth IRAs to lacrosse. Dave on Twitter: https://twitter.com/DavidBCollum 0:00 - Intro 6:17 - Child trafficking 22:17 - Immigrant flooding 32:13 - Crime syndicates and technocracy 40:47 - Darkness 49:11 - J6 59:29 - Ukraine 1:03:36 - Hope and changing winds 1:10:24 - Election 1:14:24 - State independence 1:18:39 - ETF 1:27:39 - Inflation and correctional 1:53:30 - Geopolitical status 2:02:17 - Great minds 2:09:30 - Tangents 2:24:04- Roth IRAs 2:32:39 - What to do without Bitcoin 2:41:26 - Family 3:05:44 - Lacrosse 3:26:53 - Wrapping up Shoutout to our sponsors: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠River⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠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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Are we live now, Logan? We are live. Well, that's the short form content that the kids like these days. Quick 20 to 60 second hits. Thank you for inviting me. I'm glad to be here. well it was a great show yeah i know it was a great show let me see if i get this fucking camera people give me shit for saying fuck it's like you know go to church fuck them fuck them yeah

it's uh i you know i tell people i said i use the word fuck like authors use a space bar well there's a lot of fucks over the last 20 minutes this is the longest it's ever taken us to get to uh the record stage we had to restart our computer repeatedly the old tried and true when things aren't working just restart the computer i know you're saying the the world is pretty fucked up right now that's why uh it's it's actually driving me a little nuts um and and and i have people saying dave you're worrying about stuff you can't influence and i go yeah i know i used to think i could influence it by sort of laying out the story and putting out the truth that that maybe somehow that would help i guess but but the the sense that

that that that we're just being drowned out by the evil dudes is is pretty overwhelming at this point i think that's a sense i don't know i think i think you do a good job this show particularly I mean, you're probably, I think you might be our most tenured guest in terms of the amount of times you've been on the show. It must be about five now or something, right? I think it's six, seven now at this point. Oh, it could be. One of the most favored guests, and I do think you have an impact.

And I do agree, it does feel like we get drowned out by the evil men and women in this world. But I do think, I don't know, to me it seems like they're lashing out and trying to grasp control more aggressive than they ever have before which is a sign that they're losing control on the back end and they may project strength i guess so but it also feels to me i've sort of narrowed it down to this thesis that uh that when the internet showed up all of a sudden their tactics changed completely so they used to try to get away with shit and now they just try to control the narrative and so they don't even

bother to try to get away with it they just refuse to acknowledge it i watched this morning i watched clip of rachel maddow saying that you know after the iowa caucuses and trump won saying well we're not going to show you the winner's speech because and we've had this discussion many times we're simply not going to contribute to him you know we're not going to help him in any way and i'm going you right i mean what kind of douchebag are you they did this before too maybe it was his concession speech or not concession speech i remember something around the 2020 election yeah And then you had Joy Reid saying that Nikki Haley didn't win because she's- It's like when Kennedy said something in a CNN or MSNBC interview, and they cut it out.

And then they said that Kennedy said stuff that they didn't want us to hear, but they didn't tell us what it was that they didn't want us to hear. And so I go, you know, just blow your brains out. I don't care. I'm starting to get militant. I'm starting to get sort of gene pool scrubbing mentality. Maybe I have a mental problem. I don't know. Well, we know you have a mental problem, but I think it's a good one.

We do know that, don't we? We do know that. We do know that. And so maybe I'm doing too many podcasts. Maybe I've got some podcast disease or something. It's the best disease to have if you're going to have one. Well, but if I have, I can't imagine what you have, right? How many of these a week do you do?

Two to three. depending on the week we're we're tying each other now what i mean while we're on it i mean that's i think the big news topic of the day i will caucuses last night trump won by a landslide and now everybody's trying to position him as the uh the fascist that we need to protect the country from and that'll be the the narrative over the next nine months this is the most important election of our lifetime we must stop trump at all cost despite what the biden administration has done over the first three years of three odd years of uh his administration his nothing but disasters

nothing but disasters nothing but disasters i noticed when when cnn or msnbc they're the same thing showed the results they clipped out trump's numbers so that the the screen was on haley and what's his name desantis and she said it's this is great news because we're down to a two-man race and someone said are you aware you took third yeah but uh so so watching that you know you And did you see that woman on Sunday morning talk shows, which is sort of the highest level of mainstream media? And and she said she's expecting black swan events. Yes. I was on a Zoom call. I'm in this doctor Zoom group and we had a guy who's he's not CIA. He he gets described as a lieutenant colonel. And if you watch him on Fox or whatever, they just introduce him as a

Lieutenant Colonel, but it turns out he's, his name is Schaffer, Anthony Schaffer, S-H-A-F-F-E-R. And, but they actually introduced him as a Lieutenant Colonel. He says, but that was my cover. I was basically DOD case officer. So it's kind of like the DOD's version of the CIA. And I can't remember where I was going with that, but it was an extraordinary interview where he talked about all the things going wrong in the world and he's he's as nutty as us actually and at the very end i said look i'm i'm going dark and i i i said i'm talking about things like child trafficking and stuff like that he starts talking about epstein i go no no not epstein we all know about epstein i'm going darker and i said okay let me ask you this question

um is the clinton foundation trafficking children he goes oh absolutely oh okay that kind of answers my question you know if they got caught red-handed and hey laura silsby laura silsby yeah but is she officially clinton foundation i don't know but the clintons bailed her out she got caught twice actually yeah i'm having a little bit of a crisis on writing about it because a it's hard so i've been writing about child trafficking but there's this one site that i found that's a gold mine of links just a true gold mine it's like the encyclopedia of child trafficking and the problem is i go well why am i writing about it then just go to that website start clicking links and read about it now they don't write about it the way i write about it but but it's still

i i i was digging through a lesson i go it's all here i mean it is all here and and um and when you read about that story you end up concluding that there's things going on that the average person on the street cannot fathom that just so far outside their their their the known world for them and you sit there and you go i don't am i too deep is it getting too weird if i if i signed off on stuff that just is profoundly illogical i have you lost your mind but uh but then you'll see something that says no there's more evidence right there so um mean so i've been dming you waiting for part three but it seems like it uh i'm not i can't imagine writing it i'm writing it what i mean what what do you think the the common man can't stomach or

fathom like how how dark is it i mean i felt let me give you the darkest the darkest is a claim that anthony wiener's laptop has video footage that veteran cops can't stand to watch and it includes footage now this this this this will cause your viewers to hang up right on the spot hillary clinton slicing the face off a child and i'm going oh that's a little different isn't it and and it's actually a veteran cop who's describing this footage one of nine who actually got to see the contents of the laptop and supposedly one of nine who are no longer with us so they all die yeah and so yeah you know i don't think the average person has even a micro smidgen of a capacity to process something like that now it's also possible it's not true but i i've read

enough now i'm pretty sure pizza gate's real i'm pretty sure that um i'm pretty sure that child trafficking is a truly extraordinarily broadly based thing globally and and it's being done by people of of great power and wealth and it's not being done by just you know your archetypical perv with a van that says free candy on the side and um and uh and then the question is how do you separate fact from fiction how do you know you're not getting some limited hangout baloney um the other thing that's got me a little spooked is i'm writing about it and And there's people who've said worse things than I will say, like Liz Kroken. But I'm a little nervous that I'm misreading the room.

And if, say, for example, Liz Kroken is limited hangout, then I could find myself in trouble where she's not. And I worry. I'm worried I'm the FBI informant who gets arrested and put in prison for 20 years because I thought I was part of the team. and also they go no no we're throwing you in jail so you know that sort of thing yeah no i mean i fell down this rabbit hole pretty pretty deeply in 2020 when pizzagate first popped off and i mean i think there is a lot of noise around obviously q anon i think q anon was a psyop to sort of yeah just paint a picture that's my conclusion too yeah well it's a name it's it's it's like a conspiracy theorist name alt-right pizza you know q anon um conspiracy theorist right pedophile if

you want throw that in there no but i remember vividly going to that dude james alphontis's instagram account before he scrubbed it and taking screenshots jimmy comet jimmy comet yes yeah yeah those those screen grabs are all out there i had yeah i have some personally so they're not like doctored like i went to his like account the day that people found it and those pictures alone nothing explicit stunning stunning stuff about having sexy five-year-olds and stuff yeah taking pictures in the white house with obama playing ping pong like yeah it's all out there the internet never sleeps right and so i have found a vast quantity of stuff um so much so it's hard to process right it would be like someone who stumbled into economics said

i'm going to write about economics you know um and uh and it's so dark and disturbing but the the thing i keep coming back to is that the official numbers from unicef or the you know international agency for abuse and missing children all of which i think are staffed by pedophiles, if you really want to come down to it. I think, you know, you want to run a child trafficking thing, you just make sure that you staff the top positions in organizations that are supposed to fight child trafficking. I still don't know fact from fiction, but I do know that if 10% of it's correct, then we've got a monstrous problem. Evil people, the overlap of pedophilia with Satanism is massive. That Venn diagram is huge. They're always nearby. The official

statistics claim anywhere from one to 10 million kids a year disappear globally. And there are not enough pervs in the world to swallow up one to 10 million, right? So you can't explain it as just a bunch of pervs having sex with a bunch of kids so speaking of limited hangouts like or like is epstein a limited hangout was that like a nugget they threw us like oh we'll take down the big the big uh connector and this will all be done he got written out of the plot yeah he he it's like a soap opera and he all of a sudden they said okay we're gonna write him out next year now i'm not convinced he's dead um by any stretch of the imagination um the cadaver they wheeled out did not look like epstein to me now the years are

very different yeah well not just a year the nose to me was different it turns out that the profile of epstein and the profile of the guy in the gurney anyone can look this up look up dead epstein look at his nose and look at live epstein's nose i told you about the the funny the funniest conspiracy theory in history about um the internet discovers that the guy in the gurney doesn't look like Jeff Epstein. And so then they find a guy who's sitting there in a baseball game wearing a Mets cap. And and they go, that's, that guy looks like Jeff Epstein. That guy looks like the guy in the gurney. I mean, and he died two weeks

earlier. So that generated a cadaver. And there was he died with a little fanfare, no cause of death, nothing. And, and it turns out it was Hillary's brother. Huh? What? yeah yeah yeah hillary's brother died two weeks before jeff epstein no cause of death very few articles about him and uh and you look at him you go that could be the guy in the gurney and so the the internet said maybe some spook with a phenomenal sense of humor sent hillary a message you could imagine you say you know if we whack him we could put him on the gurney

and that would be just funnier than shit you know and so so you know i give that a low percent probability but i you know if i were spook and i thought of that and go oh we have to do this one right oh this one's this is too good now we we have got to do this one well that i mean to send a message maybe there's good people out there who want to fight this and that's the big question because the satanist tie did you see out of the shadows that documentary yeah i think liz was in that and i mean it's pretty well documented have you had loose cracking on i haven't no so liz is out there battling like crazy she still could be limited hangout um she's on a board of one of those agencies that supposedly

oversees the fight against child trafficking and that's that's sort of oddly enough a red flag um the uh but in my pursuit of this story and and again why why would i read about this well i think we've talked about this maybe before but um what i've been baffled by is how there are leaders around the country and around the world who seem to be doing something that seems to be so anathema to what they should stand for so let's go back to europe when the when the the the invasion from north africa occurred about i was about five or six years ago right and all these millions of refugees came in and and where where was by the way i'd rather go to split screen if i could put in my request

there we go request granted there we go i'd rather be able to see i think i'm talking to myself um And why would Angela Merkel sit there and zip it while North Africans are flooding into our country and flooding into Sweden and flooding into everywhere except, ironically, Hungary, where Viktor Orban said, no way, we're not taking them. And then he got a lot of guff. And they didn't do anything to stop it. And there's no way that they could possibly have concluded that bringing in a bunch of North Africans into Europe was a win.

It's never been a win. And this isn't anti-Islam. I could go anti-Islam, but it's not. It's Islam and Christianity are so different that they're just two cultures that don't mix well. Forget about who's right and who's wrong. They just don't mix well. It's oil and water.

And so this idea that with diversity brings strength. No, it doesn't. it's a team sport you got to get along you got to work as a team they don't Islam and Christianity don't work together well at all and and so they let that go and then you get the border there they clearly open the border they didn't just not take control of the border they opened it they were crystal clear about how nothing would stop these people when they came and and now they're claiming they did but of course they always do that but but so you know hundreds of

thousands a day are coming across that border yeah i mean the numbers alone from last year are stunning staggering as somebody who lives in texas it's with two young children um it's extremely unnerving well it clicked the other day when i went to a convenience store some guy walked up to me and i don't know where he was from but he was clearly he's working with foreign accent certainly could could approximate a north african and i i was put back a little bit he starts walking towards me probably mooching money or something but i imagine now and it's not hard for you imagine 10 of them you're you're now in danger you're in serious danger and and um and so uh so you know if for example they dropped a handful of bus loads in ithaca would change

ithaca forever it's a little tiny hamlet you know with 40 000 people and all of a sudden if you can't go downtown downtown dies and then then what happens right so um well what is the goal of all this that's what i'm trying to like is i mean you hear people talk about the great replacement theory is it just simply to create chaos and division to confuse everybody to come down with stricter laws in the future to take away more civil liberties is it certainly that's part of it is it just most of the statements are stupid most of the statements are i'll get more voters i go just rig the election i'll tell you what we'll give it to you just put anyone you want from your party in there just stop doing this right um and i think the idea of bringing in

immigrants for labor maybe someone thinks they can drive down the price of labor by bringing in laborers but but but there's tons of mexicans who would like to be here these are not mexicans coming across the border we can handle that we can let a lot of mexicans and say here's the deal we're going to bring in a whole bunch you guys we'll give you a license whatever the mexicans are not the problem it's the other and you know bobby kennedy went down there thinking he supported the immigration story spent two days down and came back and said we got to build the wall he he was totally convinced by two days at the border saying holy cow he said that he estimated that um maybe two percent of them were spanish speakers yeah and

it's all military age men northern africa china's got a lot of chinese someone said it brilliantly They said when you run from war, you bring your family. When you run to war, you don't. They're not bringing their families. I saw something. I think it was yesterday or the day before. They're completely gaming the system too, like the system of coming across the border

and then the U.S. government will hand you $2,000. Somebody interviewed a gentleman who had done this four times in a month. and received $8,000 from the U.S. government, from the U.S. taxpayers. I hadn't even thought of that. So we got guys scrambling back across the Rio Grande just to come back again. Yeah. Oh, God. It is really insane.

I was very happy to see that Texas stood up last week and sent the Texas National Guard down there to secure the border and tell Department of Homeland Security to kick rocks. but so there's a guy i've i've heard listened to and read books by border guards i gotta find one um oh my phone um the guy named jj coulson or something um and he he uh come on dude I don't know um he wrote a book about he was a border guard there for 25 years he talks about the border like it's just a its own world that the border is like this this this living organism that's just different than anything anyone can imagine but he said that they would occasionally

flag a person who's who's who's a risk not just generically you know not supposed to be there but risk he said we'd send those guys back we'd deport them we'd deal with them pretty effectively he says he estimates that at least a hundred thousand of those guys have crossed now really yeah so he he's he's a big believer in the sleeper cell model now the problem with this book here's when you read about immigration the problem is is that everyone who's writing about this story as a this is a catastrophe is also rather pro-trump which i have no problem with except for the fact that it means therefore half the country will dismiss you once the second you show pro-trump so the trick to talk about the problem at the border without giving trump credit for

trying to stop it even though i think that is factually true well then going back to the sunday morning talk show you had her i forget oh yeah oh that's right i didn't finish that story so she said we're going to have some black swans and that actually got legs and it turns out this this dod case officer said she's really a good person she's telling us something she knows something and and it was a little spooky yeah and that's where that's where things don't compute because you had her say that and then you also had christopher ray i think in a interaction with lindsey graham on capitol hill where lindsey was like how many blaring lights are you seeing out there he's like christopher is that the most lights i've ever seen going off the alarms are

are signaling and so you have two examples of people in positions of power are supposed to like look over this and they're agreeing and they're essentially insinuating that there's because of the immigration and the the leaky border there's probably going to be sleeper cells doing attacks sleeper cell models terrifying actually yeah and yet they don't do anything about it they're they're saying this is going to happen and then they're so this gets back to this idea this idea so so what got me into this again back what got me in the pedophilia story is i see people doing things that make no sense where i go okay politically i don't agree with a bunch of people but we all seem to have some foundation level belief in our system and i'm seeing

important people who do not have that now. And I was looking, it's like an astronomer looking off into the galaxy and saying, there's a force out there we can't explain. The orbits are acting funny. And we go, ah, black hole. So I was looking for the black hole. I was looking for the thing that was causing perturbations that were not explainable. And I sort of glommed down to this this, on the surface, Epstein, which I think is in itself profoundly real. I mean, I think you make a career, as Whitney has shown, just chasing the Epstein-like stuff. But I think it's way deeper than Epstein. I think Epstein's a highly sanitized version. Because Epstein's basically getting a bunch of leaders and blackmailing them and shit like that. But it's, you sense he works

for our CIA and the Mossad and stuff. And it's not positive that if you're going to get blackmailed by somebody that those are the worst guys to be blackmailed by? Now, I still am not convinced, I'm not convinced the CIA works for us. If you, I think they're domiciled in the United States. The analogy is, is JP Morgan a US bank? The answer is no.

It's domiciled in the United States, but it's got branches in every country in the world. So there's no way that JP Morgan necessarily, or even for that matter, the Federal Reserve. The Federal Reserve will do what's right for the banks. And I think the CIA is domiciled here and gets a budget from us. I read the book Operation Gladio, and it's about the drug trade. We all knew that the CIA had their fingers all over the drug trade.

It turns out they are the drug trade. They don't just have their fingers in it. So the CIA, the Vatican, who are the bankers and organized crime, who do the street level stuff. political vatican handles the banking and and the the mafia types um make sure the drugs get into the junkies and and um and and so that is the drug trade right there so so you're going to go against those three to try to try to take over their territory no not a chance so so the ci these guys is triumvirate you know we're looking for better revenues and so they went they said okay

we're going to move it into this region of society and that sort of thing and uh then the question is does the cia work for us or are they just an international crime syndicate that has a line item in the budget that can't be audited they can't be audited that finds money that and their black budget is so much bigger than their non-black budget yeah i think tucker he said something about this on one of his shows a couple months ago but he when he was living in northern virginia his neighbors were cia agents with multi-million dollar homes they're supposed to be making a government salary of like 250 000 a year this is my shocked face um but it doesn't like if they run it but that's where it seems like things are getting out of

control when you bring fentanyl into it where it's like they've gotten too greedy for their own good well that could be the chinese though that could be this the triumvirate i just described going against the chinese because i think the chinese are the source of the fentanyl so so so to explain all this bizarre stuff you can sort of bring the the pedophilia as the way you know if you're going to have someone run the world it's real nice to be able to tell them how to do it right so you blackmail them and you say oh by the way and i don't think they blackmail powerful people i think they actually blackmail people and then give them power i i think i think if you're not corrupted then you don't get the job um and someone else i ran into someone else who said that i go did i

channel that from them is that possible because i thought i invented that but i don't i don't think so um and and so um i i i think that's part of the problem it i believe that to explain what we're seeing you have to believe that someone is attempting to destroy the united states it seems like it that's yeah and and you know soros i said i used to laugh off soros and say you know every time you have something you can't explain you blame george soros it's kind of stupid you know but but i'm beginning to sense that it's not just george soros but he's just probably one of many fingers in the in the pie and um and you know the prosecutor who prosecuted daniel penny for saving lives on the subway and killing a guy in the process which was fine by me i didn't

care um he he saved lives and uh was the same prosecutor's prosecuting trump i'd prosecute that guy yeah no i mean we see it in philadelphia too trump or excuse me soros funded da i think it's come down here texas austin i think garcia soros funded and that's the other i mean the big trend over the last few years too is just in big cities san francisco new york philly austin to a certain extent a lesser extent but an extent nonetheless just get these da's in and don't enforce any laws and we see if you dug into the the concept of technocracy if you dug into that i can't remember the author of the book who's the author of the book i can't remember the guy's name um And Whitney and I have talked a lot about technocracy.

And that goes back to the 30s, right? That goes back to when the Trotskyites and the capitalists were battling for how to run a technological society. And the capitalists had just screwed the pooch by generating a credit bubble. We're in the middle of the Great Depression. And the Trotskyites were going to make some serious ground, right? and so technocracy came up this idea that technology would help run the world um the

latest version appears to be a borderless thing that's more about regions very hunger game sounding to me and and um which by the way i think hollywood doesn't just make up shit that kind of looks like reality hollywood makes up shit to make reality look like fiction yeah and as you're saying this this is uh i'm reminded of something i saw this morning on disclosed tv claus schwab says we risk becoming much more ego-centered on a national and individual individual level and wants to break this cycle so saying patrick wood patrick wood the guy wrote technocracy um and then you you that vanderline or whatever her name is that that nazi from germany talking about how the biggest problem is misinformation could could they more clearly

tell you that censorship is going to become even more oppressive than it is now yeah i see that that's it did you see that google warning the adsense warning from a couple from last week no no what was this so google adsense which basically runs their their ad platform sent out a email to anybody connected to the ad platform last week that come february 2024 they're changing their policy and the words they use in the new policy is where we're going to ground truth google's going to ground truth we're going to be the purveyor of truth and so are wellian we're going to we're going to block people from serving ads or particular articles with particular sensitive words around sensitive events again going back to the signaling there's a lot of

projection and i guess predictive programming in terms of these black swan events that are on the horizon the fact that google changed their their policy on adsense or we'll be doing that next month basically saying we know that there's going to be sensitive events that we're going to censor around and just preparing their ad partners for this at some point in the near future this could reach a point where it's it's not worth the fight so i've been humping michael malice's book on every podcast in part i'm not doing it to help him although i'm happy to do so but i'm doing it because it got in my head so did you happen to read the white pill i'm not ready yet i've heard a lot it's really it's a stupendous book logan's right and he's

his thumbs up in the background here yeah it's a stupendous book and logan uh put your thumb up not up anywhere just up um what he does is he taught you know we all know that stalin killed millions what what i didn't know is how so millions i think it was stalin who actually said you know one one life's a tragedy and a million is a statistic isn't that stalin's quote well i think so he was bigger he was a statistician of higher order um but what what i didn't know is how you how he killed millions and and and and malice does a stupendous job of talking about how he basically through cruelty and all sorts of tricks um got society to completely consume itself now where stalin departs from something like hitler and this is going to

sound so odd but hillar makes more sense to me because hillar identified a group as being bad right now i don't think anyone in the modern era would agree with what he's just what he decided was a problem but at least he identified this group and said here is your enemy here are the people who are causing us trouble and then he killed millions of them there's a certain bizarro cold logic to that stalin just killed people he killed major figures in russian society the best doctors in the country that he just he just killed people so he was like john wayne gacy on it on a truly galaxy scale who by the way i've been reading that john wayne gacy might not have just been john wayne gacy

what do you mean that he's got connections to intelligence and i haven't been able to get a con yeah could be mk ultra mk ultra gone wrong gone right now mk that's that's the problem right i used to think kaczynski was mk ultra gone wrong and then i realized no i'm kaczynski's mk ultra gone right they they programmed him to do what he did and he did it and um it turns out i i've seen a couple of quotes from son of sam and since it came from the internet they must be true um and he said some shit that really suggested he was mk ultra too and and it was about the right time right it was about the right time in history and stuff like that he was a little late he was he was shooting people in 77

and the church commission jumped in there on 72, as I recall, and the CIA claims they wrapped up MKUltra. And I go, Oh yeah, I believe that. And, and so then, so then, you know, Jack Ruby, MKUltra, Charles Manson, MKUltra, although I'm not sure Manson was an MKUltra product, or or simply worked with people who are involved in mk ultra so jolly west is the mk ultra kingpin right he's the guy whose name keeps coming up and he had strong ties with manson he had strong

ties with ruby he had strong ties with um timothy mcveigh and uh he keeps showing up when some guy from the cia shouldn't keep showing up and so uh and so it's kind of can you imagine what it's like living in whitney's head no i mean she just you know she's not married anymore what she studies couldn't have helped right i mean it's it's such a darkness that she that she is battling she's down in some crevice somewhere battling the balrog and uh she handles her ass i've been talking she does handle it well i know she handles it very well but it's it's it's so dark and one day you know what rattled me one day she was doing a podcast with who's that b deep bt what's his name patrick bet uh patrick bet david or something pbt

yeah she was in a panel with him they started talking about the traffic and she started crying now you and i both know whitney is as tough as nails and i'm going holy shit there's that that was she she it really rattled her when they're talking about it yeah well i think when you have young kids particularly it's going to rattle you to your core and i mean it is dark and that's like i mean people talk about like the great awakening the great reveal people like You have the WEF class, all these evil people with their evil intentions and going out and executing on their plans that are not plans. It's just everything's a coincidence. But the WEF guys we know are totally front men.

We're not going to see what's really happening. So while we're talking about Klaus Schwab, we're not paying attention to the guys who are really causing trouble. Yeah. But then you have this whole other sect of people that are convinced that there's going to be this great reveal. Again, going back to the fact that it seems like they're losing control quicker than ever. I think 2023, particularly post-vaccine and the ramifications of the COVID lockdowns materializing and inflation, I think there are more people who are like, this is beyond fucked. Something's wrong. right but the problem is and again back to the white pill the problem is pretty much everyone in the soviet union you know it was it didn't stop it from being well that's why you need somebody uh to write a piece like live not by lies that's that's something i'm really focused on is like how do we just read that live not by lives is very good um um uh when you stop telling your kids the truth for fear that they will somehow blurt it out

and somehow either get themselves or get you sent to a gulag but i i think i went off to went off the deep end a little bit a week ago and biden was bragging about putting guys in jail for 870 years yeah i i just lost my shit on that i i just look at him and i go send that guy to hell right get out the guillotine steal with that guy he let them eat cake that i even if people deserve to go to jail it's still a sad moment in u.s history he should not be bragging about now i also deeply profoundly believe that 870 years of jail time is ridiculous and i believe that the people you know here's the thing i don't understand and i get into this night one of these days is going to get me in trouble but so i like to put a third party

imagine you're some dad or something and your kid gets sent to prison for five years for something that's totally innocuous aren't you gonna get even you certainly would like to whether or not you do right and so then so that well but but it's seen i i'm watching this my wife was watching this tv show frontier it's about 1830 uh sort of little village on the hudson bay and traders and stuff and there's some guys who are just supreme dicks i've always wondered how you could be a supreme dick in a relatively lawless place since it's so also so easy to deal with a supreme dick

it seems to me that being a dick is a potential fatal move it's like when i like to quote um malcolm gladwell um in one of his books he talks about culture of honor and he talks about hatfield and mccoy's and how they were just an example of culture of honor and all down the appalachians along the south there's this this you know this me you attitude and it's very regional it turns out i think it might be where the irish went or something i don't know something like that um and uh and he describes a case where two guys were ripping on a guy at a gas station just ragging his ass giving him holy hell at a gas station pulls out a gun and shoots him and then he gets

acquitted and when they asked for the jurors why did you quit them they said well they should have known better that's that's the supreme example of culture of honor i i would think that every time you put someone in jail in this heinous way that you are putting yourself at risk yeah i mean the whole january 6th insurrection coup horror story i mean it's it's insulting the worst event on american soil since 9-11 the fact that they're they just i mean i saw you tweeting about this but they just announced that they're going to start arresting people who are not even in the capital but we're outside in the crowd ray epps gets off with a slap on the wrist he's not going to do it he's got community service you know john sullivan right the the the the black

guy who filmed ashley babbitt supposedly getting shot which i don't believe um and uh he and ray epps have a connection they do there are there's there's there's photographs of him the two of them communicating and um and uh he got convicted and i've been digging and i can't find the sentencing yet he got so if you get convicted if you get convicted in november would you not yet be sentenced is that a normal clock uh well i do have some context for this because sbf is obviously a big uh theme in the bitcoin space he got convicted in november his sentencing is in march i believe so the big cases might take a while then or something because i think in a normal case you get convicted the judge says oh by the way you're going to jail for this much time

yeah um it'll be interesting to see what happened to john sullivan because if if he gets off he did go in he did he did all sorts of shit if he gets off in less than 10 years then you know he's a fed too yeah which i think he is well it's it's all very weird did you ever see the video by the way babbit getting shot the video that tears it apart you ever seen that one uh were you convinced that it was fucked up there's a guy who put together there's a guy who put together all this footy video footage and said you know and he starts throwing spaghetti at the wall and he's laughing his ass off as he's narrating he's going oh look at that look at that guy clown over there and he gave everyone nicknames and stuff as he's going through it and there's just things there's things

in so i started i tried to write about it but i couldn't for two reasons one is i showed the video to a bunch of real smart guys. A guy in Silicon Valley who started more companies than we can fathom, sort of thinking of my brother and various people. And they say, I see the point, but I'm not sure. And so, and since I couldn't write about it cause it's so video dependent that I'd have to embed videos

and stuff and say, watch this. So then I finally just provided all the links to all the videos and said, go watch it for yourself. but but i was sort of also talked off it and normally that wouldn't happen but since it wasn't easy to write either but but you know there was no blood splatter the guy who smashed the window runs down the stairs takes out his backpack changes his shirt he's behind the cops you know doing this um one of the guys who did it turns out to be the son a demo the son of a democratic judge and there's just all sorts of crazy and what you can see in the video the most striking

thing besides the fact that the guy points out familiarity amongst the players so so two guys walk by each other and they'll do something that says those guys know each other they know something and then you got john sullivan amazing john sullivan is omnipresent he is everywhere in january 6th right he is everywhere um and and i and then and then uh they're doing cpr and i've asked surgeons i said you know tell me if i'm wrong but if you got a neck shot you don't do cpr right because all you can do is bump the blood out of the chick right yeah yeah yeah it's like a squirt gun it's like a super soaker and uh and then there's footage of them taking her out of the building they literally drag her down the stairs by her arms and legs they don't put her

on a gurney you know there's medical systems inside the capitol because they're all a bunch of guys trying to die for us not honest for us and um and they drag her down the stairs and she's still got her backpack on i'm going this is and then what happens is when you zoom in on the video and you zoom in on the chaos and and then you know there's guys screaming and there's all sorts of things happening. What the person points out is there's no attempt to provide healthcare. So, no one's ripping apart her shirt and putting pressure on the wound or anything, nothing like that. They're just positioning her shirt, they're moving the body, they're screaming, they're a lot of chaos, but no one's actually trying to help her.

They're staging. Dr. Andy Roark And then, it looks staged. And then, some guy, and the guy's laughing about it, he goes, see that guy over there and he's trying to open up a gauze pad and he finally gets the gauze pad open right and he comes over and he wipes off her shirt he wipes off her shirt and so then about a month and a half ago cheryl cheryl atkinson took it on and I go oh now she missed some stuff but she got a big chunk of it and she had a couple of federal cops watching the footage with her saying you'd never let that happen you'd never let that happen that makes no sense and they were going through the footage and they were shooting holes

in the footage and then what they missed was here's a neck shot and there's the blood on the floor looked like a shot glass worth it was a tiny amount of blood so I think they staged it I think she didn't realize she's I think she's dead but I think she got written out of the script I'm guessing that the thing was staged but but then someone jammed a needle in her ass on the way out the door and off she went you're gonna not gonna do an autopsy on her right because the whole thing stage anyways then uh and merrick garland you want to piss me off watching merrick garland stand up in front of congress and say that the protesters killed five cops that is galaxy class lying right there that's an extraordinary but then you say well why well

because four cops committed suicide then you go okay how many cops are there 100 150 four committed suicide i wonder why they all committed suicide they say wow it was really stressed like I go, cops, that was an average day for some of those cops. Right? Cops put up with a ton of shit. Well, I mean, I'm picking up, like, all of this. I watched this video, and I agree with you. But the one thing I can say, people will never, again, it's unfathomable.

People will never be like, they staged all this? Like, I mean, to me, maybe Ashley Babbitt dying wasn't staged, or maybe that video. point out some inconsistencies chaos of the day people didn't fall back to their their procedural training that they went through but still the the back-end narrative of this being an insurrection and the worst thing since 9-11 yeah they forgot to bring guns now i heard a defense of the insurrection assignment it was really interesting um did did you did you watch the the debate on zero hedge between three annoying as shit lefties, uh, the Krasenstein brothers and, uh, and some

other guy, I can't remember his name. And then three others include Glenn Greenwald and Alex Jones. Now Alex made it unwatchable. Alex could not behave himself and he ruined it. He completely and utterly ruined it. And then I saw clips from later where his chair was empty. I have no idea. I got to go find out how his chair got empty because there must be a funny moment there when his chair got empty. But one of them said, insurrection is described in the Constitution. And you could kind of say you could make that fit. Now, here's the problem. Everyone on the planet uses a different definition.

so when they say insurrection um it's like saying someone's ignorant right it's got a seriously negative tone when in fact you're just saying they don't know something about something but it's more than that it means they're a shithead i thought i was gonna say i thought glenn made some really good points on that in the clips that i saw it's like to get in he's battling to get in alex just destroyed the thing as he's known to do he's uh can't contain himself and and and the lefties were really good at at undermining him too they really knew how to deal with him that doesn't seem that hard but glenn's point being like that the other side of the debate the lefties couldn't believe that

this is being way overblown because they don't even have the concept of the cia and the deep state being infinitely corrupt from the beginning right they don't think that these people have planned coups in other parts of the world and have used their influence and power to affect u.s politics uh pretty or they are out there doing their what they're told to do i mean you know they're they're they're thought leaders possibly on payroll right you know when there's some bad event they they parade a lieutenant colonels across the screen every you know those guys are on payroll I mean whenever there's a bad event yeah Israel Palestine which I tend to stay away from in terms of the who's right

who's wrong part but as soon as it happened they paraded the lieutenant colonels across the screen over and over and over describing how Israel blew it you know so the narrative begins immediately yeah i mean it's going back to how crazy the world is devolving you have that going on seems like ukraine may be coming to an end it's funny how quickly they dropped zielinski in ukraine um to focus on does he survive does he survive i don't know seems seems unlikely right he's seen he seems very unstable if he was uh somebody where you felt that they were conned and wronged. There's a little bit too much cocaine one day.

Well, he's starting to look a little like Hitler did towards the end of the war where he was shaking his leg and stuff. You ever seen those Hitler tapes where he's clearly a speedballer? Yeah, high on meth. Yeah. No, but there's 500,000 Ukrainian moms

who want to kill him, right? Yeah. So I got to figure. and former us puppets who get abandoned don't do well no yeah no i don't think i would not be surprised if he's not with us by the end of this decade by the way i wrote about as you know i wrote about ukraine in 2022 and the title of my poem was all roads lead to ukraine which in part was because everything seemed to have a ukrainian tie that year you know including you know including victoria freeland and and there were ukrainians at january 6 that turns out

they were just everywhere that year um i basically blame the whole damn thing on nato and i dug into it i found about 40 guys who seem to be trying to get it right including gonzalo lira um rest in peace rest in peace i think i think um Um, and, and, and what, what none of them were doing is putting it all together. And so I, I, I think it's my best geopolitical writing. Um, I think I really got to the bottom of it. My conclusion was, is that, um, that unambiguously that the war was NATO's fault. We gave Putin basically, uh, we, we cornered him to the point where he had no options left.

And so he played his best hand. um i think he thought he could throw a fastball past the world's chin and then we'd say okay never mind never mind you know science science on peace deal you know you don't take over ukraine with 50 000 troops right that that's that's not an insurrection either for that matter right and uh and then when nato played hardball he said okay so he he rebuilt his army in earnest and and and and now he's turned ukraine into a into a killing field yeah and and they didn't have to die and it's because victoria the hut insisted they die and uh and uh and so i i get i get mad at the sanctimony industrial complex the ones who have their ukraine flag one day and

their their their palestinian flag the next day and that you know that and i go where where were you while we were doing all this where we killed why weren't you speaking up when we killed 4.5 million people in the middle east over 20 years where were you where were you when the saudis were bombing yemenis with u.s-based weapons where was your protest their program malware that's triggered by the media wasn't uh wasn't triggered for those events right that's right that's right but why is why is killing 4.5 million middle easterners not considered a holocaust and a war crime right no it would be an insane society it will be eventually in retrospect um i hope

yeah there's do you right do you have any hope do you have any hope that we can get out of this Um, I think we got to go through the valley of death to come out the other side. And I, and generally the trip through the valley of death is not a day trip, right? It's not, it's not a short journey. Um, the great depression was about 10 years, felt like a century. Um, the seventies was a pretty ugly time for us really. And, you know bell-bottom jeans and um but but but we got through it um this one i think will be uglier because i think we are you know more in debt more unstable um we really have again getting back to this idea that our leaders seem to have lost the sense of what we stand for they don't they don't

fine take your grift but you know i i think for example when the italian mob was helping us during world war ii i think the italian mob were patriots they were rough guys but i think they had a fundamental belief that they were doing the right thing at that point i think you know their neighborhoods were always pretty crime free and stuff and and um and and now i i just don't see it i i don't i don't see anyone who seems to support what we used to stand for no republicans are only marginally better no it's all uniparty they're all and they just try to force nicki haley down everybody's throats um oh and oh god you can feel this happening too you know it's it's like some some porn flick and you're the gag

well that i mean maybe i'm naive maybe i'm too optimistic but it does again feel like they're losing control and then obviously we just talked a lot about uh corruption and geopolitical stuff but then you tie in the financial side of things i find it really hard to believe well but you know when stalin started killing people was he losing control no he was actually gaining control yeah but again i think our dna is different our dna is different it is we we have a history of not putting up with guff but then it's going to be you know it's going to be up to the team or something right it's going to be up to it's not just mag is the pejorative term thinking again a MAGA hat MAGA in 2016 election I sensed something epic was happening I didn't

think he was going to win but I sensed there was something changing in the country and one of the things I wrote about was the fact that I said that it's it's just a flicker but but it looks to me like the black community is moving to the right and there's a woman down in our cafe who i get an occasional bagel from and i talked to her and i said does it drive you nuts that you get told that you can't do something because you're black and you need help and she says drives me completely crazy right so blacks can't get voter ids therefore we have to let them vote without voter ids it's like what kind of idiots do you think we are and i think that community you know malcolm x many many years ago said look listen what the

liberals have to say but don't give him power and he was dead right in fact i have this funny i thought one of malcolm x's stroke of genius whether it was planned or just his belief system i don't know but when he when he brought islam into the black community now i'm not a fan of Islam. But it was a distinctly non-white religion that brought order. And it was an interesting idea. It was a sort of a person of color religion. And then, of course, they capped him. I don't know whether that was really just sort of a gang fight or what but you could easily imagine it was more than we're told and uh i read his biography um and if you go back and listen to his speeches it's oh he's brilliant anathema to it brilliant the left is is trying to push out right out there

right right and so you know i remember when jimmy brown the running back said you know Trump will be a president of the people and I'm going oh that's interesting and then I'm watching this guy on black entertainment tonight or something BET and he's being interviewed and this is black guy who I'm looking at going I would not want to get in a cage fight with that guy he's he's a tough looking bastard and um and he keeps saying ignore the the messenger listen to his message he's talking about Trump and I get to the end of the show and I'm thinking who the hell is guy and it turns out he was the new the head of the new black panther party and i go the head of the new black panther party supporting trump holy friggin moly and then you got kanye all of a sudden

and you say well kanye's a doofus well kanye's a doofus with a lot of fans and then i think moving to the right within the black community not only became acceptable which 15 years ago you'd never say you voted republican right um it became gangster it became the cool kids moved to the right so black maga i rode in a cab with a guy in new orleans i a black guy and and i was asking a bunch of questions i said oh i got a captive audience here i can get some the guy was maga it was really interesting and i gave him a big tip and i said here's a big tip for either being maga or for being so good at lying your ass off to me that you deserve a big tip you handled it beautifully he he read me and he played me and i said you deserve this well and uh this

begs the question like what the hell is going to happen in november because obviously now it seems pretty clear trump first binding or whoever they are i can't see a good path because it was already pretty clear to me in 2020 you just joe biden's rallies where people were standing in circles there was like a dozen of them maybe uh right trump would fill a state with lines around the block right yeah and it's is it is the power of the uh the white middle-aged karen that strong where they don't need to show up and they can just vote uh well i think when both parties want them out when both parties want them out then you've got no sheriffs in town right what do you mean if the republic if he was the republicans guy then the elections couldn't have been rigged

so effectively yeah that makes sense and so um one of the theories is it could be such a landslide that they can't even rig it away i'm rooting for that first i want to see him get into office i want to see him um pardon all the january 6 guys there's probably a couple who deserve to stay in there a couple years but not many and they're all fed so they're not even there um and so i want him to pardon all the january 6 guys um and he also when he first got into power he didn't know who he could trust he tried to bring in republicans he couldn't trust them tried to so he ended up bringing his family in and that's not a healthy cabinet because they're not going to stand up to him right i was amazed at how how unblemished pence came out of a four-year period

with trump and then i i only realized after the fact that he was probably being protected to be on the inside at all times they don't want pence having trouble so pence was with the other guys he was on the other team and um i don't think it was just at the last minute where he decided not to do something that could have helped trump i think he was probably a plant it's not shocking considering the way he's talking about trump since no not at all not at all and uh so trump now though knows who he can trust so if trump got elected i expect to see michael flynn in there i might expect to see um doug mcgregor i wouldn't be shocked if bobby kennedy got a job somewhere

um i'd love to see him pick someone like bobby kennedy as a running mate oh that would be a ticket do you think that would be kenny would join up with him i think he might bobby's not going to get to the white house no he might through trump he might through trump that's what it's also like tiresome though talking about this like the four-year election cycle it's way too quick it's literally a two-year media event leading up to the election and then it's like even if he does get in well but he's going to be able to put he knows where spoons and forks are now yeah right and i'm torn as to whether i want to see him go green goblin

once he gets there or not i'm not sure um what's the name of that guy that video game guy leroy jenkins leroy jenkins leroy leroy no leroy yeah um and he could go leroy jenkins and half of my brain wants to see that and the other half says it won't be good if it happens well does any part of your brain say all right maybe trying to fix these systemic issues that exist in the united states is not going to happen through the white house like i look at what's going on yeah here in texas sending the uh state national guard to the border to secure that like how how much agency do you think states need to really uh take control of moving forward to like my whole view is like i think states need to lead the way out of this so that gets just

that gets us to an interesting story i'm a pro-choice guy who watched the roe v wade decision get overturned and even though i'm pro-choice um what i had been seeing leading up to that was that there were states that were pushing abortion up to nine and a half months even later that's the Fuck that part. And I'm going, no, I don't give a damn. They say, well, the mother's life is in jeopardy. I go, you should have called it earlier. You blew that one.

And as Ben Shapiro said, I listened to Ben Shapiro make the case for pro-life. If anyone is smart enough to convince me, he is, and he didn't, he didn't convince me, but he did say something profound. He said, there's only one bright line, That's conception, apathetic is fuzzy. And he's dead on correct on that.

So then the question becomes is, when does a child pick up civil liberties, civil rights? Where in the woman? Nine and a half months, they're a person. At zero months for me, they're not, right? But there's, I listen to a guy talk about doing a 12 week abortion, which I would have thought was just a vacuum cleaner

sort of thing. No, no, they pull arms and legs and stuff. right? It's really an ugly, ugly story. So what I can say is, is that if you push me to go either nine and a half months or no abortion, I go to no abortion. They're going to force me to support the other team if they, and the activists were pushing that for reasons that make no sense to me, just to cause trouble or something. So I think the Supreme Court might've gotten pushed into making that call. Now, where I'm heading with this is there's no reason why the people of Mississippi's moral values should be the same as those from California. And I think of the state

of Mississippi wants to say, look, we as a state do not believe in abortion. That's reasonable to me. And you can move. Not everyone can move, but you can move. I think there's a downside to it. I'm still pro-choice, but I'm not gonna tell people in Mississippi that they have to do exactly what the people in California want them to do. Yeah. And by the way, I'm starting to understand Mississippians better than Californians.

Right. Right, because the Californians, the ones with a brain bigger than a walnut, have moved to Texas, right? Yeah, they're all my neighbors. Right, right. So the state's rights model, right, Ron Paul? Yeah, I mean, it makes a lot of sense.

Everybody can go their separate ways, do their own thing, trade with each other. So that's the opposite of the globalist view, except for we were talking about technocracy. Technocracy has this idea of regions, and that instead of having countries, you just have regions, which really smacks of that's why george soros is planting people in lower positions because if we go to a regional model then those people become relatively important and so it gets real creepy real fast i don't want someone in brussels telling me i can't

have a steak because i've used too much carbon that month no it's all getting too absurd again maybe I'm naive maybe I'm optimistic but I feel like they're pushing too far that's like the whole again why I'm in Bitcoin we just need to defund these people

take away their power the money so are you supportive I always by mistake do a hodler podcast and then walk into a Bitcoin debate are you supportive of the ETF is that a plus or a minus i know i wiggle like a son of a bitch i've been told by my brother he says you wiggle so much but

i i can't stop wiggling i mean it's neutral i wouldn't recommend that people get bitcoin exposure via the etfs i think it's uh the least optimal way to do it and i could see so so where's the downside to it what's the um what's the um Forget about the downside for Bitcoin, but is there a risk of, do you think ETFs could end up just completely hosing people? No, I do think they'll have the Bitcoin to a certain extent. I mean, they could hose people if the government- So is that good for sort of the apocalyptic endgame, right?

Then you don't want to own ETF, right? Well, it doesn't even have to get to apocalyptic. I mean, I can make a very strong case that Bitcoin, the network itself enables you to do things that you can't do via shares of an ETF. Like people listening to this podcast now, they're streaming us Bitcoin, as you know, like you're not going to be able to do that with the ETF. and i do think right there's a strong case that could be made that the technology side of bitcoin at the networking side can enable these use cases that will actually force you to have direct exposure to bitcoin to interact with these here's the deal see the no corners gld has got the same sort of problem to me i i don't think i don't think gld has the gold so to speak i think and

i don't think gld was a plus for the gold market that's why i asked that question so i think gld was put into place to provide to saturate demand so that people wouldn't actually try to get the gold they would just get gld yeah and so i view the etf as potentially not good for bitcoin not not necessarily bad but not good and and and and and but but here's the deal i'm happy to own gld i don't own much because i i bought all my gold as gold a lot of it um but by having the etf it allows you to have exposure to bitcoin and when you say oh you know it's getting kind of sketchy i i would like to have some it allows you to basically get the protection of bitcoin's gains and then you say now i'm going to switch it over to the real thing because i

I want to be able to do A, B, and C. I'm not sure they switched. There's a no-coiner, I can tell you. The ETF is attractive. But you're going to have to sell that share and buy Bitcoin. You can't take in-kind redemptions the way the things are structured now. But if the guys who say, look, Bitcoin's going to $500,000, that ETF will be a good deal.

Oh, yeah. I mean, that's like the quote-unquote positive. It does make it very easy to pour a shit ton of capital into bitcoin and comparing it to gld like bitcoin being able to verify that the bitcoin is actually in the proverbial vault is a lot cheaper and easier so you could but so so so what'll happen though is if they start doing the the etf as a fractional reserve system it then hurts bitcoin i think i think it would hurt people with exposure to the etf well it hurts it it hurts bitcoin to the extent that it it's it pulls demand away from the actual

coin right if i can buy gld get exposure to the price of gold without actually causing a supply demand move right if i if i buy gold it it puts a demand on gold which pushes up the price maybe not much whereas if i buy gld and they don't have any gold then then then it they'll just make more shares of GLD right they'll just here give them some more you know it's like uh it's like NVIDIA was talking this year about how they they were gonna offer more shares because of the eager investors I go it's a Ponzi scheme what you're doing right they're at what like 242 PE ratio right now uh I think it's even worse than that because I think those are probably fake numbers I think they're at 50 times revenue.

50 times revenue means that they're crudely speaking about eightfold overvalue. Yeah, it's indicative of asset bubbles. But back to my biggest worry with the ETF, particularly when you juxtapose what was going on in parallel to the approvals and launch last week was the Treasury. and elizabeth warren you know the treasury sent a letter to the house services committee and the senate banking committee basically saying uh we don't want individuals to be able to hold their own keys hold their own bitcoin and my biggest worry i think the biggest risk and again it's

not to bitcoin it's the bitcoiners living in america is that now that the etfs out there the treasury will try to make a move that says all right you guys can have bitcoin we can only access it via the etf you can't hold your own wallets that's right go peer-to-peer so the way the two ways you undermine bitcoin is to either is to either institutionalize it to death or to try to just squash it and the institutionalization is is the one that seems like the the path of lesser resistance yeah but again going back to getting sloppy last week was beautiful on all accounts i mean you had the sec get their twitter account hacked somebody sent out a tweet that announced the approval too early that moved markets now it's like all right the sec the

the police in this market is completely incapable of even protecting a twitter account uh what right do they do do they have to tell us what we can and cannot invest in then you have it launch and in the industry it was very apparent that the actual facilitation of share creation and then buying Bitcoin was a complete shit show then you had Merrill Lynch and Vanguard not giving their

clients access to these ETFs out of just subjective a subjective view on the space it's just highlighted across the board the quote unquote smartest people

in the room are dumber than ever like they can't even coordinate a clean launch and approval of a spot bitcoin etf i don't think these people are as organized on the back end as they were in the past and as many people think they are it's almost like a government program it's almost like a government program yeah i mean it's technocracy i mean that essentially what that is the merging of the private and private sector and public sector the big tech firms and the government that's what's happening in their home it's just i think it's collapsing under the weight of everything that they've built do you think we're heading into a serious economic a period of economic strife it sure feels like it

but it keeps i remember in march of 2007 feeling like the market should crack and it and it was cracking but it just took so long well i think we're already in a prolonged period of economic strife the question is is that materializing financial markets who knows well in some sense it has if so so what do you think what do you think inflation has done over the last two years if you had to give a two-year inflation hike what do you think it is it's probably like 10 to 15 percent i'd say 40 but 40. yeah but the uh chapwood index has it at like um 18 and 13 for the two for the two years so since it's it's around 30 by the chapwood index um jimmy ioreo has a restaurant says over two years the price of his supplies is up 40 in two years and um which means the markets

are right now sort of cresting at all-time highs they're just just trying to push could be a great double top i'm not a technical guy but it could be a great double top and um and uh well what it means is over the last few years you've lost 40 percent so so the markets in theory have corrected 40 percent you just it's just an inflation unadjusted it's just not showing up in your your brokerage account the way you yeah yeah you feel better about it but you go i you know i paid 3.99 a pound for sliced turkey that's that's not a normal price for sliced turkey i went to get a roast one day and it was 240 dollars i go i think i'll pass on that yeah i mean when you factor inflation i mean it's obvious that inflation is affecting people directly i mean i do well

for myself and my family i've cut back bringing coffee into the office every day like it's uh yeah i i i live like a grad student in most respects i'm i drive a i drive a beater of a car i'm happy to drive a beater it's got to work right if it breaks down it sucks but otherwise i used to wonder i'm sitting going you know you're pretty well paid you got the you got the worst car in the parking lot at the grocery store but i was kind of proud of it um I can eat, my weakness is takeout. So I'll spend, you know, 25 bucks for takeout. I never, ever, ever go to a restaurant

where it's, you know, 75 bucks a head or anything like that. Never do that. I would rather, this is my taste, if you gave me a choice of just the food, forget about the price, the food, I would rather go get a number one meal at McDonald's than French food. I like the taste of a Big Mac better than fancy schmancy shit.

Yeah. I like the French food, but I don't eat it that often. Pizza. Pizza. Right? Pizza. Barack and the Podesta brothers and I have pizza together. Well, that, I mean, the inflation, inflation is one part of it.

I've noticed personally, anecdotally, and I'm sure you've seen the headlines. I know a handful to a dozen people that have been laid off in the last nine months still looking for jobs. Yeah, and so then the question is, how is this happening below radar? There's something so odd here, and you hear about the tight labor market. I go, no, it's not tight. It's necrotic. I mean, there's something wrong with it.

There's something about it that's broken, but it's not acting like historically broken markets. we have not yet seen a residential real estate collapse but it has to occur well the cost of buying a house has doubled yeah but but if you look at commercial real estate i mean we haven't seen the collapse but like look at the price well commercial real estate i think the jingle mail over the next two years is going to be spectacular like how bad i think how bad do think it gets because starting it like it seems like we're on the roller coaster going over the peak right now let's just start with simple things like malls malls are all dead um they're

not the most expensive items right there's not like a hundred million dollar office complex but um our local mall is being converted into medical shit and and that's actually a bone of contention of mine we're going to get a ton of people blathering on about how that how you know pharma's going to do well as the boomers get old and all this shit the gdp the component that that that medical care contributes to gdp is just a flawed component because what medical care represents the cost of keeping a rapidly depreciating asset on the road so it's like having it it's like having a you know a 1965 corvair it's breaking down all the goddamn time and and you're saying well that's good for the economy no it's not you know your car's falling

apart and so so medical care is going it's essentially a tax on society so it's you know it's going to contribute to gdp but it shouldn't it's not product it's not a gain it's it's the costs of a depreciating asset yeah well and that's i mean that's where things get really daunting is when you consider all the unfunded liabilities whether it's social security medicaid medicare and then the health of the country the literal health of the people in this country like the cost there's another funny thing is everyone's pretty pissed off right i mean i would say the average person is pissed off in a host of ways right yes we if we are coming off a top a market top normally you come off market tops like you can't really recall this but you know coming off

say the 2000 top we were euphoric as a society brave new world internet you know digital world's going to save us everything's wonderful nothing but blue skies and also it's like oh it's not working quite right right so so what what the downturns do is kind of knock that out of you gets it takes away the euphoria and and and brings you back to earth we are coming off a top in which everyone is pissed off let's say you cut their retirement portfolios in half which i believe is not only quite possible but quite rational um how euphoric are they going to be and then all of a sudden when you start looking at biden's and all these crocs of shit in the world they're just going to get madder and madder again you you destroy my

life you piece of crap you know so i i think i think we're heading into a dark period starting out dark yeah that's not good i mean especially when you consider like the demographics that you have obviously the boomers looking to retire i'll start to retire both my in-laws retired in the last two years depending wholly on their retirement accounts now which is scary by the way it's almost a phobia it turns out you can have a ton of money and as soon as you retire you start shitting a pickle yeah well that's the other thing i don't have any more revenue this is it this is all i got if this fucks up i'm in trouble yeah and then you have a subsect of millennials who are looking at their parents like oh you're getting close to the grave like i'm gonna get

all that money that's not gonna happen well here's the interesting thing this is and i'm not sure i've even got my brain around this correctly yet but um so so the the boomers have mcmansions and stocks and stuff but but in theory to liquidate that you have to sell it to somebody who's going to buy it so what we're saying is we're going to we're going to sell our assets to the millennials who are then going to get rich inheriting these assets there's i i get in this sort of loop well i think the important question is who's going to buy it at this price nobody like prices That's right. No, that's exactly right. So, so if the millennials think they're going to inherit our wealth and it will be priced the same, ignores the fact that the millennials don't

have any way to bid for that wealth at that price. But then I go, okay, so let's pretend, let's not do the trade. Let's say I take my wealth, I die and I just, it just hands over. Then in theory, my son did not have to buy it from me, but somehow to turn that into usable wealth, spendable wealth, you got to liquidate that, those shares of Apple. And the markets are so profoundly overvalued. And this is, not one in a hundred analysts that come across the TV set do a credible job

of evaluating the valuations in the market. You'll get guys say, well, the markets are somewhat overvalued here. I go, yeah, 150%, you fucking numbnut. Right. And it's an easy case to make. It's not hard. You don't have to be a rocket surgeon to make the case. You just, you can look at historical fair value and we are 150% above historical fair value. It's an easy case to make. How do you protect yourself? That's the question. I mean, obviously. Well.

I think Bitcoin, you think gold, there's other things as well. Well, I'm not even sure about Bitcoin or gold. I don't even know. When you have to, so if you say the world has a debt problem, let's start with that. The world has a debt problem. You go, well, the world can't have a debt problem because for every debtor, there's a creditor, right? Yes, the world can have a debt problem. If everyone in the world thinks they're worth a certain amount of goods and services and there's no way the world can provide all those goods and services you've got a debt problem so if the way i like to do is imagine that all of a sudden you know the leaders of the nations of the world got together and said okay we're going to provide

free health care for everybody well we don't have the resources to do that so the that promise just created a debt problem and so we have promised people everyone thinks they are going to go off into the sunset with a lot of money with a lot of wealth a lot of spendability a lot of consumability but we don't have the ability to produce that and so so that's a debt problem if if if there's no one to buy our assets at these prices then these prices can't hold up. I guess the question is, well, but what if the Fed reverses rates and prints a bunch of money?

Do you think they then it's inflationary? And so so the correction will be the nominal dollars will be fine. But the actual the actual wealth will not have changed. The other thing people don't account for over the last 100 years in which you look at the market going up the population has changed too and so i say the markets are up this much i go well the population also doubled so you can cut that return in half just let's start right there cut that return in half because on a per capita basis if you're growing the pie if you're doubling the

pie every 20 years and at the same time the population doubles every 20 years and then you get any more pizza and i i keep liking the pizza metaphor you know um so so and and uh guy named ron grice the chart store actually plots the markets correct enough for normal inflation cpi inflation which is a total crack of um thank you michael boskin um he corrects it using the m2 money supply which strikes me as a very clean monetarist driven inflation correction and over the last century the s p hasn't budged corrected for m2 so the question is is it quite possible that the entire capital gains of the market over the last hundred years are zero real capital gains and then the question is well then what did you get for investing in the

And the answer is you got dividends. And then he sent me a plot of the total returns corrected for M2 Money Supply, and which includes the dividends. And it turns out to be 3.79% per year over a hundred years. And guess what the dividends were? About 3.79% per year over the last hundred years. Now, here's the interesting part.

At the beginning of the century, they were six and a half. Now they're one, one and a half. Yeah. So that's why we're overvalued. yet again another example of how we're overvalued because the the thing that provides the actual return is now 1.5 percent this is i mean see the economy has been structurally broken for over a century well it it's we've been duped it's not structurally broken you know in theory my brother when he was an econ major when i was in high school and i remember he said that the uh

the economy has to keep growing to be healthy and i would say to him and say i don't see how that's possible that's an exponential function and and and i was correct about that say you know trees don't grow out of the sky sort of thing so it just struck me as odd that you had to exponentially grow the economy for it to be healthy why can't we just produce the same goods every year Same amount of food, same amount, let's say zero demographic change, same amount of food, same amount of supply,

same amount, just every year, just create what we need and get to the end of the year and say we got to the end of the year. Why is that unhealthy? The reason is because we're in an inflationary world and that represents really a shrinkage. Yeah, you need more. You need more because you have to cancel inflation.

And so, and if inflation's really been running much harder than people think, because the other inflation I love to write about is the inflation, the deflation, the inflation hidden by rapid depreciation. So I had a microwave go out about two weeks ago and it lasted about three years. I think the original microwave was original to the house from 1989.

So if you look at the price of that microwave in 1989 that was bought and put in the house, and then you look at the one that I put in, I don't know, it must've been four or five years ago, maybe, that lasted four or five years, you realize that to correct for the price of that microwave, there's a factor of five-ish accelerated depreciation. appreciation and and therefore it's the price of per use price and that second microwave i got

i bought a blender a year ago and it's gone again i had to buy another yeah so that blender is not in any way comparable to the ones that lasted 40 50 60 years from you know world war ii vintage blenders those would go forever it's not showing up in hedonic adjustments either no no they don't correct for the fact that you just bought a piece of shit yeah well this is i mean new term i learned last couple weeks shamflation we all know about shrinkflation you don't raise the price but you shrink the good and this shamflation i think that's what you're you know describing in terms of a microwave and a blender it's happening in food too they're not raising the price right you're getting shitty food switching out the ingredients um you're getting right they're

they're learning to use more and more of the cow and heaven only knows heaven only knows what we're eating that or it's just like addictive powders that they put in that's what uh i watched a podcast with this is where things get really weird because it feels like we're stuck in this vicious cycle that we can't get out of because like all these moves particularly shamflation in food where you're switching out ingredients for shittier stuff that makes people unhealthier like you try to uh damn the hole or you try to um put your finger in the the hole in the dam in one spot but then like boom like by doing this you make people unhealthier and you just skyrocket health care costs on the back end well the other thing that that you know i wrote about it this

year i decided to lay out the case as clearly as i could but that we from 1981 to the present we so many tailwinds that will not repeat so so recency bias and in in the investor world and in the economic world um um it's not back to 2000 2020 it's not back to 2009 it's not back to 2000 this back to 1981 from 1981 the russians needed money they they sold us resources for dirt um they need desperately needed capital china came out of the dark ages and they sold us labor at slave wages that's a huge contributor that that's over the interest rates went from 15 down to zero percent that's a huge tale when demographically the boomers showed up in the workforce brought their wives with them huge huge economic gain um and and so the the bottom line is we had all these

tailwinds that will not repeat and so during that time it turns out the valuations of the market an inherently inflation-adjusted phenomenon because you divide the price by something that ought to track that price so it shouldn't move it can wiggle bob back and forth get over value get get undervalued, get overvalued, get undervalued. But eventually it regresses to and through the mean. And all the way back to Rome, there's kind of a sort of a gravitational pull to sort of a net gain of a few percent above inflation.

And during that 40 year period, the valuations of the market, valuations not price, compounded at 3% a year for 40 years. that's a tailwind. What happens in the next 40 years when the valuations drop 3% a year for 40 years? And you say, oh, that would never happen. I go, of course it will happen because there will be some point in the future where we're way undervalued because that always happens. It might not take 40 years, but there will be a time when we are way undervalued. If we regressed to fair value today, right? You and I woke up and we looked

at the market we said holy we just gave all that over evaluation back what's over evaluation well here's a great example microsoft has had a wonderful thousand years right that's been a good stock to own of those gains five fold our valuation expansion so if you just give back valuation expansion give them credit for developing and selling and having revenues and wealth creation whatever but you just contract the valuation back to where it was a dozen years ago it's an 80% correction and it will correct. It's not going to stay up there. Nothing stays up there.

Nothing stays aloft like that. It eventually corrects. And when it does, it's got to get back 80% just based on valuation. NVIDIA, factor of eight, got to get back 85, 90%. And it could be worse than that. nvidia could become global crossing or something like that it could become a bankrupt company yeah do you think this could be a catalyst for shaking the american people up like yes it will

be terrible for boomers for the millennial children that are expecting to inherit all this wealth but do you think this is a necessary correction a wake-up call for people to realize like hey you've been living in well so so so i think i think i we haven't had a real correction since 1967 to 81, in my opinion. My definition of a correction is two things. One is it sends prices earthward in a serious way. So if someone says, oh, that's a 10% correction, that's not a correction.

It corrected nothing, right? So, and then the second thing is, is that you have to correct investors' attitudes. You've got to get them to the point where they say, okay, I won't do that again, right? That was stupid. and and we haven't had a serious correction since the 67 to 81 bull bear market where where at the end of that investors are saying i'm i'm never buying another equity these things are a sack

of and that turned out to be a great time to buy equities great time to buy bonds too um and and so i think the two components of such a correction one is price and the other is time and if we dropped 75 cents 75 tomorrow the dip buyers would come and enforce right if you look i just saw a plot of um tesla i think it was that dropped 75 back in 2022 and it was just a v-bounce so that 40 years was the age of v-bounces every time there was a serious downturn investors ran in and grabbed it and brought it right back so the message was clear never sell just hang on you'll be fine and then you got the indexing and stuff and so it says not only never sell but buy shit without even understanding what you're buying because you're

just buying an index and by the way if you buy an index you're buying the most expensive stuff in greater quantity than the least expensive stuff by a country mile and so it's like going grocery store say oh look prime rib just doubled let's buy more prime rib you know that doesn't make sense buy some hot dogs that day but that's not how indexing works indexing you will buy more prime rib because the price is up and so so at some point indexing was a good idea and every idea good idea becomes a business and ends up a racket there's a famous quote i can't remember who gets credit for it. And the indexing has reached racket phase. And there's no really good ideas on Wall Street that then eventually become bad ideas. The system intellectually and

monetarily arbitrages away the good idea. It's like portfolio. Portfolio insurance was a great idea until 1987 then all of a sudden it became a bad idea and and and so yeah it's an entropic thing and so um so we will i think we will go away from indexing i think active management will come back say oh wait a minute let me see if i got this right buying something having no idea why you're buying it is going to go away and buying something that you thought about why you're buying is going going to come back. What an odd concept. And then there's this harsh reality that bugs the crap out of me. As I say, you know, the mag seven carried the market or the mag 10 or whatever you want to call it. The top few stocks, 10, let's say 10 of the, of the 500 stocks in the S&P carried the

market. I've been carrying the market for quite a while. If you own 50 gas stations and 490 of them weren't producing any profit, what would you do? You'd sell them. But somehow with the indexing, you just keep buying more gas stations. And the ones that are returning the profit happen to be a metastable profit too. Nvidia is a great store because Hickey, Fred Hickey says that Nvidia, because of the AI craze, Fred, that Nvidia got to sell some really expensive hardware

to desperate buyers of hardware. That desperation will go away. and once it starts crashing to Earth, NVIDIA is going to become Global Crossing. It's going to become Sun Microsystems. It's going to become, it's going to be a chapter in a textbook. The picture, you know,

the picture of the CEO looks like Bill Hwang. That's the letter you're looking at. That's going to be the poster child of the next downturn. Picture of Bill Hwang. 2.0. Yeah. it's thinking of my life

2001, 2008 now it seems like we're approaching what may dwarf those 2000 whatever and I listened to some economist yesterday who I think is really smart but he's so matter of fact he's so matter of fact and I was telling you

about a podcast I did where I got mad it was the matter of factness of the podcaster which i say something you say well it's just this i go but we're still fucked yeah you can say it's just this but we're fucked yeah and um and it's getting me irritated um and uh and these these economists say yeah recessions are good and this and this i go this one's gonna suck it's important it's needed it's called for it's time to scrub it's trying to scrub the barnacles off the ship but it's not going to be painful yeah it's not going to be fun and they

say it like it's just just another day to go to work and you know because he's not gonna lose his job no new york times will keep paying them um the uh well that being said i mean obviously the economy the financial system more specifically is one aspect i mean obviously we're going through some sort of inflection point exactly where it ends who knows but do you think other countries in the world smell the blood in the water obviously we've had the bricks plus countries really buddying up the sanctions against russia proved to be a pretty terrible move on behalf of the western allies in the u.s and the dollar like and putin called that too you know if you i did a poll one day i said who who who is who which leader

most is doing the best for their country and i gave the choices were biden trudeau macron and putin i think or it wasn't macron it was someone else and putin won 71 of the votes putin seems like one of the greatest leaders in the world to me he's running a country that you have to be a complete beast to run right this is not a country that justin trudeau could go up and run right biden couldn't run it you need a strong strong fisted bastard you need a guy who we would consider a sociopath to run russia this is a crazy place and i think putin has shown a real sense of nationalism i think he's attempting to He rushed it from going off the rails.

And there's people who are listening to this who are appalled by this. They say, oh no, he's a psychopathic thug and he just murders people. And I go, no, I don't think that's true. He does. I'm sure a few gulags have a few guys that pissed off Putin. But you know, Malice's book, another interesting thing.

So after Stalin dies, there's heroes in Russia that you never would have thought of. Like for example, when Stalin died, Khrushchev took over. Now, our image, my image as a boomer is Khrushchev's this leader of this evil country. In my lifetime, it was Khrushchev. When Khrushchev took over,

he talked about all the bad things that Stalin did and don't let that happen again. He spilled his guts. And I'm going, what a hero. Gorbachev comes out looking like a saint. You know, this is a tough place to run. Putin's doing a credible job running a very difficult place. And he pointed out that if you want to have the reserve currency,

stealing people's money is not a good way to do it. And then to supposedly give it to Ukraine, right? If we take 300 billion of Russia's money, how much is going to make it to Ukraine? How much of the money that we're giving to Ukraine actually makes it to Ukraine? Right. Right. Right. And so, so this is one of the great grifts of the, of the modern era.

Right. And then again, the podcast, I did a guy say, well, that's just a, you know, we're just to clean out the old war equipment and stuff like that. And the rebuild. I said, well, those guys should be hung from the neck until dead. There's 500,000 dead Ukrainians because they wanted to sell more arms. Why is that not a Holocaust? Why, you know, and the answer is because no one's ever going to get charged with any of these crimes against humanity. Mitch McConnell let us know that that money is really being spent here in the United States. I saw that. It was very heartwarming, very heartwarming. the other one the chick from msnbc who used to be on um who used to be on uh the the the cnbc

said it too where the this is going to build the u.s economy go okay let's go kill some more people you know i was i'm i'm a hawk in the sense i believe we need a strong military right i'm a dove to the extent i don't think we need to bomb the shit out of every country in the world yeah and i think we're bombing the shit out of every country in the world and and the message is very clear don't piss off the united states or we will just obliterate you well that's bad bad karma it's bad karma well and the brazenness with which the deep state whoever it is particular administrations just completely neglects the constitution like the bombing of yemen last week an act of war without permission from congress they don't even but they've been doing

it they've been doing it for years yeah and by the way you know those strikes this is amazing to me there are strikes going on inside russia right they are hitting russian targets inside russia those strikes are not being done by ukrainians they don't know how to do that shit they don't know how to run that equipment those are being done by u.s guys contractors whatever so we are bombing russia if this turns out badly that's going to be an embarrassing moment yeah to say the least i mean it already is pretty embarrassing i mean the fact zelensky came oh so i asked i asked the the the case officer yesterday in the zoom call i was

talking about, pull out of Afghanistan. I said, okay, I got to ask you this. He was in Afghanistan a lot. And he said, well, we spent two years winning in Afghanistan and 18 years losing. And I asked him, I said, tell me yes or no. When we pulled out of Afghanistan, it was so poorly done that that could not have been a competence that was intentional. He said, completely he said he said we left him money we left them guns we left them everything the idea being the country's yours take it behave yourselves and and and when i wrote about it i i said you know here here's here's the tell the tell the tell is that we left i remember when jen pisaki said we got 90 of people out who wanted to get out i'm going you know 90 might be a good score on a

calculus test but it's not a good score in terms of getting americans out of a war zone and and so we left supposedly a ton of americans we read no stories about americans dying none right i would have noticed them which means we said to the taliban we're going to leave you money we're going to leave you guns do not piss us off and make us come back leave the americans alone and they said yeah we're good we're good we got the money we got the guns we don't need anymore the americans are good they had to have made that deal and and and uh and then people laugh at the bricks plus that you mentioned and they say oh you know such and such a currency wouldn't be strong it's not about a currency

it's about new alliances they could come up with a new brick currency they want that's not the important part it's about the part that they're saying we're now going to join china russia not the united states that is a sea change it was saudi arabia in the middle and with saudi arabia right weren't these the guys that we bribed and bribed and bribed with all of our whatever military shit to make sure that they stayed friends with us and apparently they've now decided there's cooler kids on the block yeah So this is all very bad for the U.S., and it's deserving, right? That's the hardest part for people to internalize.

Everybody wants to play with them. Yeah. It is. People call you unpatriotic, Putin apologist, Xi apologist. Patriotic is calling out the mistakes we're making. Yeah. I'm not a Putin apologist. do you do you agree or disagree i don't know we could have stopped this ukrainian war

i agree i mean it was blatantly clear blatantly obvious that boris johnson stepped in and said no what was it april 2022 said gold zalensky and and and yeah i bet he's got a lot of bank accounts yeah the i mean we're not joking about it but we're it's only a little late but you have to laugh about it four and a half million when the fed was struggling with the the gfc right and there were transcripts and they were they were cracking occasional jokes and people said it's just awful no humor disarms tension the other thing humor does someone said humor was aggressive like oh fuck you um if i want to be aggressive i'll just say fuck you um humor also

allows you to embed an idea in a joke while protecting yourself from embarrassing yourself because it was a joke and so you can throw out the idea as a humorous thing but it plants this the seed of an idea so in faculty meetings i occasionally joke sometimes i have to say you guys i'm not joking now that's a serious comment um but but good ideas come out of jokes there's an advertising agency that actually does that so they bring in people from all over the company they apparently have done some great ad campaigns they take them on a retreat for like five or six days the first couple days they do stupid things like things with silly string and games and things that just get you laughing and break down all the social barriers and then they start restructuring

in they start making the games more constructive by the end they're like whipping out ideas what you've got is a bunch of people who by breaking down the barriers are not afraid to come up with outside the box ideas and then go let's make a movie about sharks in a tornado Or a bear on cocaine. A bear on cocaine, yeah. Or whatever, you know. I'm reading Elon Musk's biography. I know why people hate Musk, but it's an amazing story. It really is an amazing story. He's just wired on a whole nother schematic. And it's so, it's so different. I like to ask fellow scientists, I say, tell me, tell me a famous scientist who most reminds you of you. Now,

they're always way better, right? So if you take a famous scientist, they go, well, none of the famous guys like me, because I suck and they don't. But their styles, And mine is absolutely clear. It's Einstein. Because what Einstein would do is he'd come up with this mental construct, like imagine a train traveling the speed of light. And then it goes in something, you know, and, and, and then, and then he would sort of backfit it to a more rigorous treatment once. And that's the way I work. I work. I'm totally sort of mental construct driven. Whereas Newton was just math, math, math, math, math. Musk, I'm not like at all. He dreams so big. He was trying to figure out how to get to the stars when he was a teenager. and it's so funny that what he used to be as a kid like he wanted a motorbike and he'd stand there and stand there next to his dad say i want a motorbike and his dad would say no i'm not getting you one and he'd just stand there he'd say i want a motorbike and he would just stand there stare at his dad and after about five nights in a row then

his dad say fuck it i'll get you a motorbike just get out of my face and and then he'd get a motorbike. And he was doing shit as a kid. He got his dad to send him to a computer symposium that was not for kids. And his dad goes, this is a waste of money. So he went and got his own, raised the money to get a ticket to go to the symposium. It was a bunch of adult hackers. And his dad goes to pick him up and he walks in there. And there's Elon having a discussion with three professors of computer science and he gets to him and they said to his dad you got to get this kid a better computer and and uh so he was he was wired different than everyone and so it's it's so easy to see how he became the guy he was he became and so the short sellers i understand

where they hate him because he destroyed them for starters and he and he he kept he funded his company using dogecoin and stuff right i mean he he did some crazy shit to stay to keep them at bay but no one no one is like him going from paypal to making batteries to making spaceships to making that it's it's truly there's a better scientist though the best scientist of all time da vinci da vinci you got to read uh da vinci's biography it's just a he was not an artist he was an inventor yeah he was multifaceted and you create like a you i mean you wrote about this in part two but like a direct energy weapon directed energy weapon then he invented he invented that was so far ahead

of its time and and he would his notebooks all survived because he was recognized to be so phenomenal that that that they preserved his notebook so like 50 60 percent of his notebooks have survived and he would study like the physiology of horse's lips and how the horse's lips the muscles and stuff and he would dice he'd dissect bodies in the basement you weren't supposed to be doing that back in 1385 or whenever it was and uh he figured out how the heart worked how the valves worked based on hydrodynamics that was shown to be true finally in 1972. that's insane i mean that's that's it that's insane and he figured out he he built machines for measuring distances he just where it was the wheel would turn around and drop a pebble

on each rotation in the end he'd count the pebbles you know war machines he designed all sorts of catapults and everything so he he was extraordinary and the funniest part one of the funniest parts is he's talking about michelangelo and this turns out to be an insult he says he paints like a sculptor. And so here's Da Vinci hammering Michelangelo. And he would paint if I was a painter, I think I would just quit because they describe how he painted. And you sit there and you go, I just can't even fathom doing it the way he did it. There's just no way I'll ever attain that. And he invented

perspective and he invented so much stuff and he was just so extraordinary i don't know how i got off and he's i'm so someone said i was so tangential everything is just like it's like hey squirrel hey squirrel you did stoke a question there which is like um thinking creatively and to solve problems like in your mind what is your out-of-the-box solution for the terrible state of the world that we find ourselves in i think d is there a creative well i've i've tried to bring randomness into my world scientifically here's some things i did scientifically um i work in a very complicated field it turns out very complicated area of chemistry some people said i'd fail some said it's too complicated some

some thought they understood it that's the most comical actually um like one day in group meeting I walked into group meeting. I had a group of about 14 or so. And I said, here's what I want you to do. In a month, I want you to come to group meeting. I want you to give a 10-minute book report on a self-help book of your choice. Just stupid things like that. And they'd come in and someone would say, here's how to speed up your reading and whatever. Most of them blew the assignment. And then I started this thing where I'd say, bring in two communications with really short like two pages papers and I wanted to keep them short so you so communication format's the one I said bring in two communications to group meeting next week and and and then what I

did was I took one of them randomly from them and I shuffled them and handed them back to the group and so you had one that you chose and one that someone else chose and then the following week their assignment was to describe in 10 or 15 minutes why these two groups should collaborate so i made them connect the the two programs that were randomly chosen from the literature i made them find the connections and then um stuff like that i'm a big randomness is so important to throw into the system when i was doing taekwondo my first black belt test i'd figured out the challenges of the test my first black belt test was um i realized there's about 20 fundamental kicks

and and one thing that happens at the beginning is they they throw kick combinations at you randomly and and and you go back and forth and back and forth pretty soon you're stepping on your tongue and so you're working on sort of autopilot at that point you're working on instinct mode because you're exhausted and so i made a grid and i practice every combination of kick so that there was no combination that i had not put together oh turn and kick reverse turning kick that combination works smoothly crescent kick reverse turning kick or back kick that's a tough combination but i couldn't be caught by surprise by two kicks being put back to back and and and stuff like that we were supposed to learn korean terms for each belt

i just took all the goddamn korean terms for all the belts and learned it right up front if i took a language again if i took a language again i sucked at language i hated french took me five years to get three years of credit and um the first thing i would do is i'd go to the glossary make flash cards of every word in the glossary and memorize them that's a pigeon language it's called pigeon pigeon english people think it means shitty english no it actually means it's a it's a it's a language that has vocabulary but not syntax and so um and so you you know if you're a slave you get brought over you don't speak any english you learn how to say water you'll learn how to say ask for things

but there's no syntax but it's like water food whatever pick it up um and and and the fascinating thing i love linguistics the fascinating thing is if you listen to a talk on black dialect now i'm really just tangential and i'm black dialect not ebonic but if you listen to the syntax from the hood um it is most like irish ah if someone said and it's because they put the mix and the the blacks together to do and the mix taught the blacks how to speak english yeah the scots irish down in mississippi and yes that's actually where my lineage come from my uh my irish grandmother was born in mississippi then moved to philadelphia yeah right By the way, I highly recommend any book by John McWhorter, and he's one of the great conservative black linguists, and you have to do audio.

You read about linguistics, forget it. That's stupid. you do audio and he's got great brilliant audiobooks on the structure of language and how it changes how it evolves it's a fabulously interesting topic then one day one of my colleagues his son is a linguist he's on the spectrum wants to be a linguist and I said to him I said would you drive to New York City if your son could meet John McWhorter he said oh yeah I said I think I can help you with that he goes what I go yeah yeah I know John he says you know John McWhorter? I go, yeah, I've been in a few email exchanges with him. Yeah. And so I emailed

John and said, would you, you know, meet up with this kid? And the other thing I used to do as a chemist, and they don't, no one does this anymore. I used, there's the Journal of the American Chemical Society. And to be broadly based for about a five-year period, I read every introduction to every paper that's where you say this is what's important this is what's not known this what we're going to do this what we've done in the past is where we're going in the future that's what the introduction has i read every you know biophysics chemical biology you name it you know quantum mechanics you name it i read every paper every full paper introduction so that just to just read myself as far as you can possibly spread yourself

in the hope of being able to connect dots or yeah with with the hopes of seeing connections that i otherwise wouldn't see being being aware of what's out there and then i ran out of time you know the group got bigger and i got married and things like that and then i just didn't have the time to do such frivolous things but i was a voracious consumer of the literature hmm so injecting more randomness injecting randomness yeah give give chance an opportunity to rear ted um because you will you will construct a narrative you'll construct a path that's that's biased so you need some opportunity to to just bring chance connections yeah and then and then have to have the brains to spot the connection yeah and and um and people often ask you know

chemistry economics which is the two connections i was searching now the geopolitics comes in um how do they interact with each other and um one thing i learned in chemistry is in the field i was in is that no one got anything correct they were trying so hard to get it right it's just a a hard field and they didn't have the tools and and almost every paper we've ever published has shown someone was fucked up and in some cases it's spectacular some cases it's nobel prize winning work where you go it's not right and um and um and uh when i got to economics it gave me one thing one skill that very few people have and that is i can look at 10 central bankers who all agree and I can say, I think you're all wrong. There's very few people who can look into the

eye of credentialed experts to say, I think you're full of shit. That takes a special kind of chutzpah. And I don't have the chutzpah, but I just have so much experience in finding that people are wrong. And this idea that something, because it's logical, is right, is absurd. there's all sorts of things there's there was an example something that everyone in the world seems to agree when i'm looking i'm going this is just wrong and it wasn't even in my field it was a very physical field i said this is just wrong and so i asked and i figured out how stupidly wrong it was and i asked about 200 chemists including a number of nobel prize winners and i'd say why does this occur and they'd give me the answer i said no it's the opposite of that

and i'd show them why and not a single one could refute my theory and it was just from seeing a connection that everyone else had just accepted it sounded so logical and when i just sort of flipped it upside down and said look at it this way you go now it doesn't make sense at all and and i still liked it i still do everything you know i'm what's called a kineticist where you plot concentrations of things versus time it's just that simple and i read plots i don't do math i watch the curves i go okay that's telling me that curvature is telling me something you had one of these in on narratives in the year in review right one year i talked about a couple of chemical examples of something i think that

was last year not in 2023 2022 i think in part one you had this chart of like the narratives over time and like how they were pronounced at certain points of time i'm miscorrecting maybe i read that somewhere else i don't know but um but it's really helpful to not believe experts to not and then and then you get the douchebags who quote Occam's razor incorrectly so Occam by the way there's about four ways to spell Occam let's start with that but um Occam's razor is often cited as the simplest explanation is most often correct. And if that was really Occam's razor, Occam would be considered 100% full of shit. 100%. The simplest explanation is never correct. It's almost never correct. When you

dig below the surface, you find complexity every single time. What Occam said is you can't go complicated without more data. You have to go with the simplest explanation consistent with the data. but he didn't say you can't you can't think about what else it could be but you can't invoke complexity that's that serves no purpose in the model so you can't just start adding shit that doesn't do anything for your for your explanation but everything we've ever studied anything i've ever said whether it's economics or whatever occam's razor if it was the simplest models most correct it would be wrong every time every single time it's the base from which to build right complex so you start out with a couple of data points you come up with a simple

hypothesis not a complex one a simple one and then you collect some more data you go oh it just got more complicated and yeah it reminds me here's a great example of economists blowing it badly you might not remember this but i'm sure you've read it that when stagflation showed up the The economists were all shocked. They didn't think stagflation was possible. I'm sitting there thinking about it. I'm going, okay, let me see if I got this right. Because we have inflation, your money can only buy half of what it used to buy.

How is that not a stagnating economy? How could that not be a stagnation? So why were the economists so surprised? If you only buy half of what you need, the producers will go out and produce more. They neglect what the producers have cost to. Stagflation. Inflation is inherently stagnating. You want to promote the economy.

Don't have inflation. Deflation is the boogeyman of modern day Keynesian economics. It's the boogeyman for several reasons, one of which is it's not taxable. If we have deflation year after year after year, then then there's no capital gains to tax right they can't keep ramping up the tax bill and so so so inflation gives them something to tax yeah it's crazy i mean this is like a perfect example of one problem where people think

they've solved it monetary economics so you just point it the opposite like what if we went the other way and actually try to induce deflation via sound money i love deflation i would i'm hoping for deflation when i was a kid my dad we used to have these conversations it was really good my dad owned a construction company and so i'd sit at the dinner table or something and say well i think everyone should be paid the same amount he would explain to me why that's a stupid idea right it was quite straightforward i go oh okay i hadn't thought of it that way so we had great great great conversations which he straightened out the putty-headed thinking of an eight-year-old um and um and and and so that that helped me a lot and then

and there's people who've argued with me on this but one day i was thinking about the roth ira this goes way back actually and i realized the roth ira's got a mathematical flaw in it that's a big gaping hole. It turns out that if you take a thousand dollars, track a thousand dollars, let's say the tax rate's 20%. In a regular IRA, you put your thousand dollars in an account, doesn't get taxed. Let's say it goes up tenfold over time. It's now $10,000. you take out the tax when you pull it out at the end you've got eight thousand dollars so you made eight thousand dollars from a thousand dollars right you made seven thousand from a thousand you have eight thousand at the end if use the roth ira if you take out twenty percent up front

you've now got instead of a thousand you have eight hundred goes up tenfold at the end is tax-free you've got eight thousand dollars it's the same so there's no mystical tax-free compounding it's fourth grade math. If you get taxed 20% in the front end or 20% in the back end, it's the same. A lot of people don't notice this. Now, here's where it gets interesting. The regular IRA, which was a very farsighted concept, the government basically said, look, we will forfeit our VIG and we'll get it years from now. What government does that? That's an extraordinary thing to say, we will forfeit the revenue now, we'll get it later. What an amazingly generous way to go about life. In a regular IRA, let's say you make $150,000, which turned out at

the time that I figured this out was a five percentile income. In the regular IRA, you take, say $1,000 off the top, and you put it in the IRA, you don't have to pay taxes on that. Goes in the IRA compound, you pay taxes at the end. The Roth IRA, you take that $1,000 off the top and you pay taxes. Now, here's the deal. That $1,000 in the Roth IRA is in the top tax bracket,

37%, something like that. you voluntarily pay 37% taxes to get it into the shelter. The regular IRA, when you take it out at the end, it comes out over all the brackets. So instead of coming out at the marginal rate of 37%, it comes out first at zero and then a 10 and then blah, blah, blah. And the effective tax rate turns out to be integration

over the whole bracket. And so usually the effective tax rate first, the marginal is about 10% lower. So the regular auth IRA, by definition, 98% of the time, it will be at a lower tax rate. Now you say, well, what if taxes go way up? I go, but that's an unknowable. What if they go down?

You know, you don't know. So the point being is that by voluntarily paying the marginal rate upfront with the Roth and forfeiting the effective tax rate at the end, you're overpaying taxes. Your returns are lower. And everybody's been psyoped. Everyone's been psyoped.

So I tell my friends this, they start going through spreadsheets and they go, wait a minute, wait a minute. Then one day I'm talking to a money manager and he's there with a lawyer in my office and I'm explaining it to him, he's not quite getting it and the lawyer starts explaining it to him. So it's clear, I'm going, the lawyer got it, he understood.

So I gave a talk in front of 500 people, 500 money managers and investors in Vegas one day. And I said, look, if I'm wrong, tell me. I gave a half hour talk, which I laid out the whole case. I said, if I'm wrong, come and tell me. No one did. Everyone said, I hadn't thought of it that way. And I asked a money manager, why do you sell Roth IRAs?

If someone says open an IRA, 98% of the time they'll say a Roth. Yeah. And I said, why? And the guy says, you know, he says, instinctively, I kind of knew there was a problem here. Now, what bothered me at the front end of the discussion was, I said, the government's saying, let's take the revenue now, fuck the future. Whereas the Roth says, take the money now, let's fuck the guys in the future. Whereas the regular IRS says, we'll forfeit the money now, the guys in the future will get the money, which is a whole lot better.

So that's what I had an allergic reaction to the Roth. the Roth appeared at precisely the time when Clinton was scraping to get the balanced budget. He needed revenue. So what did they do? They opened the Roth. And they said, by the way, if you want to roll over your IRA into a Roth IRA, you have two years to do it. And that's how they balanced the budget. Now, here's the interesting thing. Let's say I have a million dollars in an IRA. If someone says, oh, you can roll it into a Roth, that money is not only going to come out in the top tax bracket it's going to drive it to the pinnacle of the tax brackets so it's going to be taxed way the fuck up there just to get it sheltered for no

fucking reason whatsoever just to get it sheltered in a worse so here's here's here's the take-home lesson this little story if you read about roth versus regular if they do not mention marginal versus effective tax rate that those are the two things you want to watch for so here's what you do you know someplace like fidelity and you read about the roth or the regular and what you get is mumbo jumbo where they say well you know it kind of depends on your tax situation blah blah blah which is a way of saying the ross bullshit but we can't quite say that and we want to sell you iras no matter how you get them so we'll sell you the red corvette and um and then one day one of my colleagues says i found it i found your analysis wikipedia

i i don't know why did somebody make a post of your analysis or is it no i don't think so independently i don't think it's that hard to figure this out now there are other advantages so for example i track a fixed thousand and it gets complicated when you there's other things about inheritance and then i go but i don't care i just want to track a thousand dollars and most people don't max everything out it depends on your income when you retire so if you've got a massive income in retirement the ross coming out at the regulars coming out in a high tax bracket anyways so there's things like that but it's interesting because most people have not even thought about that component they just said the roth is good they were told the brand

is good so get a roth ira get two vaccines and a booster right inflation's good for you inflation's good for the economy yeah yeah yeah yeah well that's where it is bad like i don't know if it's a good thing or a bad thing but since i've been in bitcoin since i was in college like i don't even think about that stuff like i just use bitcoin as my savings vehicle and the thought of right having to think what's the what's the situation now if you spend bitcoin and it's appreciated do you have a complicated tax story yeah you got to pay capital gains tax you got to do the cost basis and all that well do you end up with a nightmarish tax return i don't spend like crazy amounts of bitcoin no no no but let's say let's say you spent you know

know, two purchases a day for the year. You got 700-ish transactions, all of which involve appreciated Bitcoin at different prices. How does that get handled on your taxes? You do LIFO, FIFO counting on the inventory of the Bitcoin. So you kind of average it somehow? yeah and then you take the appreciation and when you first got it when you spend it then you pay the cap gains long term short term on that that's why I try not to spend Bitcoin but I don't unless I asked absolutely need to but I think that's a bat yeah that that needs to change it's ridiculous what what if they

don't change it that's a good question well then it becomes that becomes the state again right this now becomes the battle of the state where they say oh by the way if you spend your bitcoin we're gonna get you yeah that's the whole point like the state needs to be completely disintermediated these people i agree the battle of the bastards will take place i just and you know the reason people don't have these people don't have a leg to stand on or i mean beginning of this conversation a lot of them involved with pedophilia they're not good i'm thinking of buying the etf to get all your thousands upon thousands of acolytes who have these laser eyes poking at me i'm thinking of buying some in the etf just so i can say okay

i'm a hodler now leave me alone i think they would they would not leave you alone they would say that's not the way to buy bitcoin dave here i know i know i know i know they would at some level be full of shit though because if i can convert that into real bitcoin as it gets dicey then then in theory right i think that back to the gld i can have gld exposure to gold i i've got a lot of physical gold but i can have gld exposure to gold say ah now's the time to turn that to real gold yeah the um i think it's gonna i mean we've been talking about they're gonna have to debase the dollar i don't think they're gonna objectively default on the debt so it's gonna be crazy debasement a long enough timeline that leads to hyperinflation i do think that'll force

the hand of the etf where people have the bitcoin etf they're gonna be like hey i'm not taking dollars for this give me the fucking bitcoin so let's pretend that neither gold nor bitcoin are on the table what else how else would you protect yourself let's let's the goddlers and the hodlers i have a pretty good beat on on how to deal with the debasing dollar i think i think they're both correct and and it's a very generationally distinct thing there's some old guys who like bitcoin but but it's it's very generational um so so let's take those off the table and say okay what else would you do bullets land seeds and livestock i mean that's well hard assets then

Yeah. Hard assets. Maybe uranium. I think nuclear is going to come. I've got a, Garing and Rosenschweig have a, let me find this for you guys. I have been for years now shopping for money managers who I think have the right idea. And the plug goes, so I think the guys at Horizon Kinetics are good. I think Garing and Rosenschweig, I'm about to give you an ETF, a fund. God, God, I keep going the wrong fucking site. A fund that I think these guys know what they're doing. Oh, the markets are having fun today.

Are they? Yeah, they're red. But they're not red. The markets are so high now that it takes a real red day to do any damage. So Gehring and Roger White, G-R-H-I-X. These are a couple of guys who, who understand the uranium small caps and stuff really well and the hard asset type stuff really

well. So my exposure to uranium is through Goering and Rosenzweig, G-R-H-I-X. There's a guy who does small caps named Eric Cinnamon. And he both takes money in and invests it as well as he has the mutual fund. It's one of these dual things. You want the mutual fund to have a ball. And I do the mutual fund and that's pvcmx that's palm valley capital investor and what he's really good at is waiting until he sees the whites of their eye so he listens to hundreds of conference calls a year and and all these little micro caps and shit that no one else is paying attention to and i've sent him ideas i thought were clever and it's clear to me that he's very selective about what he even pays attention to and and he seems to be pretty invested right now for reasons

that aren't quite clear to me he was 80 cash for quite a while and now he is now he's still u.s government 75 he's 75 cash you look at the chart it's a really telling chart because if you look at the maximum chart of pvcmx um you can see it's dead flat at the beginning of the fund so he He had a small cap fund that he abandoned back when things were nuts. He said, I'm out now. And then he reopened it, I think getting ready for something. And his chart is flat on a pancake,

which I think is because he owned nothing. And then the 2020 dip appeared. And you can see that he bought the dip and he bought it a little early, but then he made money coming out and then he went back to cash. So I'm paying this bastard for patience. What happened this year?

I'm looking at it right now. Something happened there and I don't, he must have had a position in something that. Blew up. That looks like a distribution or something to me. There's something odd there. That doesn't look, that's not a drop. That could even be a, are you looking at Yahoo or something?

Google Finance. That could be a glitch. I have Philip Morris and I have tobacco stocks. And one of them has this gigantic glitch and somehow it was like a split that didn't get corrected on the price chart. So it just shows up as cutting in half. So there's something went on there.

Like he did something with the shares. I don't know what, but there's no chance that was just a bad day, I don't think. should send him an email he's very responsive um so on december 20 it's the end of the year too so it's december 27th it's at 13 and all of a sudden it's in the 12s very fast um it's about five percent so i it december 28th heaven only knows nothing happens during that window so there must have been some sort of readjustment or something yeah um but i like that guy and so that i found three money managers that i like and when it's time to start buying

i'm not a stock picker i've had luck doing it but that's all it is is luck it was you know a lucky guy in a bull market right that's no brainer but i'm not good well everyone looks like a genius in the bull market yeah so um but yeah i keep fishing um I bought Jaguar Mining on the advice of some incredibly smart guys like James Grant. They got his ass kicked, just royally kicked. It looked cheap. And I talked to Rick Rule one day, and he said, their ore grade's not holding up.

And I go, oh, fuck. You know, this is why I shouldn't pick stocks. I should not pick stocks. because i what advantage do i have picking a stock so i keep it simply just buy bitcoin hold bitcoin buy gold hold gold well i i do think if we can get some whooshing i do think the commodity cycle is a correct model i do think that that that commodities are going to have a potential decade or more run i caught the entire commodity cycle in 01 up that i that's that was tremendously fortunate um i think energy is i mean obviously it's a commodity but like energy

is probably going to outperform nothing right some expert but just intuitively makes sense if you look at the state of the energy markets globally what's happening in germany what's even happened here we're repeating the mistakes of germany with our solar wind expansion so here's the question so so i have two sort of thoughts one is it seems like the drillers and stuff have to have a job because they're going to have to start drilling again the other though is is that because of the politics i think you might want to buy a company that operations like a royalty trust that already has the fields and the permits and everything and just pumps money and i'm not sure maybe they're both right maybe they're both right i don't know but

so my sense is you want to buy a company that's already passed all the hurdles and and and as the price of energy goes up they just make more money yeah and uh and and some i think if you just i think i think if you went into fidelity and bought what turns out to be they have about a half a dozen resource related funds which i own them all at a level that i care about but it's not life-changing as i like to say um my gold purchases were somewhat life-changing but um back when it was 290 an ounce um the amount of energy i own right now is not life-changing it's hard to be life-changing the older you get by the way i had a friend who was worth quite a chunk of money and i said well how much gold do you want exposure to

because i don't know five percent i told him how much you'd have to buy and he was like because when you convert it five percent into dollars you go oh that's a fuck ton of money yeah when you're young it's like oh yeah five percent well i'll take 200 hours and put it in the goal right and uh but when you're a boomer you know it starts feeling real i still don't i still don't know what's going to happen to the boomers when these markets correct we're going to take care of you we're going to bring you guys into our homes we're going to multi so you're gonna buy our mcmansions but you're gonna buy our mcmansions we're not buying them we're just moving in we're just moving in taking the master bedroom and uh well yeah i know

i know i know i also have as a goal neither my kids are what i'd call huge breadwinners one's a professional violinist to give you an idea and the other's got incredible income but he's got three kids and you know that drill and uh so i'm not just saving and investing to make sure i will keep eating until i die of natural causes um but i i do want to leave a bit of a wad and you know a life-changing bit of a wad yeah which is admirable because i want to do that too well i should be able to i should be able to if i don't blow it i'm there i mean if i don't blow it i've done the math and i they they might not be stinking rich but they're they're they're going to have a silver lining on my death you know they're gonna say well you know on the bright

side um yeah so they will they will get a wad no in all seriousness though um i do believe that's to be if this multi-decade bear market which you're talking about uh in the year review piece uh materializes like i do think there's gonna be like a forcing function where families are literally going to have to we're not going to be doing old people homes anymore you're going to have multi-generational housing yeah yeah and then it first will be considered a defeat it'll be us you know your kids are living in the sofa in the basement sort of model right but then what will happen is it will become just a positive aspect of society because you know in an agrarian society an evolutionary

biologist was talked about there's no reason to live past a certain age because you need grandparents to teach the parents how to raise kids you need grandparents to take care of to the kids while the parents are in the fields, but you don't need great grandparents. They're extra, they're useless eaters. And so that's why the life expectancy includes provisions for kids, parents, grandparents,

but you don't need great grandparents. But so in a modern era, grandparents will alleviate the need for daycare, right? They will, by living under one roof, that will alleviate the need for assisted living in theory, you know, at least cut it way back. And it's much more efficient. And it's much more humane. It's much more humane. And, you know, when we locked down, I locked down with my son in his main squeeze.

We had a wonderful time. we'd sit up until 10 o'clock at night at the dinner table just talking about shit and and it was just it was really a great and there were people who blew that they didn't use it as an opportunity to come back together and they just stared at the four walls and that was a fundamental mistake and so we got together the only thing that made it bad is that was that was the months that i got canceled at cornell and so i was getting the crap kicked out of me and those pig fuckers um made life a little more miserable than it should have been yeah no i don't think it lasted long but it felt like it did we're fortunate to uh to experience this

at least three months of the year in the summer we live with my wife's parents at their shore house her sister there's like 12 of us in the house oh that's fun straight it's a lot of fun i mean my family doesn't we all got the same short town my cousins aunts uncles all do the same thing their kids well thanksgiving for example in my house we had eight people nine people and eight dogs in my house it was a great feeling yeah that was a great feeling there's just dogs everywhere they were just having such a wonderful time kids everywhere you know just it was just so i think i think you know single generation housing will tend to go away it won't go away completely obviously but it'll tend to go away and it'll be

a net plus it'll be a silver lining great too and any of you out there listening may not have the best relationship with your family maybe you extend it patch it up by the way my my mother mother my mother my my wife there's Freudian slip my wife my wife and her mother had a somewhat strained relationship and then my wife said you know as she got older she's obviously not too far from her going to the light and she said can she live with us I said yeah sure no problem and she only survived about six more months but it was so important for my wife that six months was really just incredible for them to to to spend it she was kind of bipolar and shit like that so there was some damage to be repaired and stuff like that and uh and and and so i highly recommend

it yeah we're experiencing this too my family lost my father last year and his mom my grandmother they're still around how did he die he had a heart attack um vaccine related or no i don't think so okay it's a story i'm not ready to tell it on the show i'll tell you okay okay off air it's pretty fucked up but um now my grandmother she's like in her late 70s she had a heart attack this year as well um maybe vaccine related i'm not sure but she's living with my mom now i know my mom stresses her out a lot but i've seen that we were home for christmas and my grandmother i think it's really good for her particularly at this stage of her life to be close to family my brother's in town and they hang out and she gets a lot of joy out of all of it it's important

well you know occasionally one time i watched howard cosell get interviewed illustrious career i never quite understood why it was so illustrious he always struck me as not as good as he seemed to be said to me but nevertheless a very illustrious career and and he was dying of cancer and someone said well you reflect back on your career and he said it all seems so stupid and i i go what and and he said it just seems silly it just seems stupid what i did and i i i watch this i go don't find yourself in that situation whatever you do do do do what you got to do to not look back and say i squandered my time yeah and uh i i think i think that might be somewhat of an inevitable feeling at some level where you go you know so so i've i tell people go boot up

deathbed regrets let's google it deathbed regrets and and and find out what people say they regret as they're on those final days and none of them will say i wish i'd cleaned out my inbox on my email you know that none of them will say i wish i'd done this and and the common one is yeah i wish i spent more time with my family that's obvious but um one of the ones that kind of clicked was um someone said i wish i hadn't worked so much i love my job so i don't think i would say that i don't think i'd get there i i really for me heaven is being in my office on a sunday morning with my dog at my feet one of my dogs at my feet and i just this is my man cave so i i've always loved my job so i don't think that'll be my problem but my wife has health problems serious

health problems spectacularly fascinating health problems actually her most recent world record performance was she broke her neck for the second time on december 5th 2022 for the second time and then she broke her neck for the third time on december 8th 2022 she fell and broke it a totally independent break three days later and i was worried about brain injury at that point i never crossed my mind she broke it again she was in a neck brace i mean she had the whole neck thing she broke it again c1 it's a it's a death shot normally but i think she's fragile enough that she could a low concussion fall could produce a break most people break c1 really got their head wrenched so they die my she's a bit of a mess now she's had 60 surgeries i mean now where's the

silver lining in this well the silver lining is is that i think because of ambition i would have had tough time getting myself to pull away from my career enough to raise my kids correctly and it turns out that you know i was forced to right that it was not not a decision yeah your family needs you you go you do it and and i stepped up and what's really interesting is if you you look in my life at the period of time where things were really busting loose, you know, where, you know, she's totally fucked up and she had her spine fused at one point,

just everything, everything's a mess. If you look at my career path and you look at my papers, my publications, my group, whatever, you can't see an effect. You can't say, oh, see that period where all hell was breaking loose at home, you can see it over here in his professional career as lower productivity.

No, what I learned how to do is say, fuck it. There's things that matter and things that don't. You gotta teach, you gotta write grants, you gotta write papers. The rest of shit's noise. Don't go to seminars. Don't go, don't do shit. My colleagues were very good about,

don't ask Dave to do shit. He's got his hands full. And so I took all my kids to all their sporting events, all their concerts and everything. And it was just such a silver lining. And we'd go skiing and you're sitting on the chairlift with your son and it's just you and your son. And you talk about shit cause it's quiet

and there's no one there to interrupt you when you talk about life and stuff like that. So the real silver lining was, is that I had incredibly meaningful time with my kids because my wife was fucked up. And for me, it was a win. And so I, you know, I tell people, you know, you're going to enjoy your kids for about 12 years and then they become

teenagers and you're going to spend the next six years saying, what did I do to be treated like this? What, what, what did I do to make that little bastard hate me? You know, that's what I think. And I actually didn't have that problem, but it's not rare. The teenagers are a handful. My son and I were doing it. My older son and I were doing Taekwondo together when he was in his teens. And it was confusing to him because he really looked up to the Cornell kids who we'd work out with.

And they really looked up to me. So I was sort of like a poor man's Michael Jordan type. Michael Jordan's son looks at his father and says, well, everyone in the world thinks this guy's God. So somehow I guess I should respect him. You know, I don't know. I know he's pissing in mugs at home. i don't know what everybody else sees it i'm like yeah yeah yeah so in any event my advice is make sure you take the time to spend with your kids you get about 12 really meaty years and then you get

you get about six more that are hormone infested crazy and i i never had a daughter so i don't know but i suspect they make you pay dearly that's what i heard you know when you talk to parents and daughters they say oh no she's a good kid they go that's faint praise that means down deep she's a good kid superficially total total shithead right girls are easier in the beginning harder in the end that's what i hear that's exactly right so they learn how not to wet their pants they learn to read faster they learn it you know i saw that one time in an after-school play where first the girls did a play it was they were kindergarten girls and they're up there chattering with each other with teacups and shit doing their play and then they brought the boys

up they just rolled around the ground making gurgling noises i go this isn't even close to fair they're just they're different species for christ's sakes and and then you know my son was in remedial reading despite the fact he's smarter than the son of a bitch and his remedial reading class of 28 kids were all boys 100 boys and and so you know the young boys they're pissing in their pants too long they're you know they're just they're just a handful but then as teenagers it becomes like the movie ben-hur you see ben-hur yes you remember when he's in in the prison that nasty roman prison i think and they say well we slide the food under the under the door and it keeps disappearing so we think he's alive in there and then they they pull them out after

10 years in prison or something and uh and uh that's sort of boys they'll go into their man cave and if you don't have a fight just don't go in their man cave right just leave them in there and uh the girls will come out of theirs looking for a fight like okay let's talk right in your face right in your face that's what i've um my oldest is almost four he turns four next month we've started uh we started doing secret uh secret treat outings just me and him and the youngest is napping you have to do that you have to do that yeah we've been going we've been picking a new burger spot once a week going sitting down talking it's fun it is fun and when they to me the most interesting period of all was about 18 months where they start talking that's my youngest he's

18 months and he's starting to talk it's hilarious and it's it's the shit that comes out of their mouths and my my son was a savant on this funny shit i used to tell the class stories and you know one day we're sitting there in the mall and some woman walks by and and he turns to me and he says tampax brand tampons a woman knows what a woman needs i go what what where'd that come from you know we got to turn that tv off you know that's it just he just one time some woman drives by and honks and he says who's that we're eating an ice cream phone he says who's that and i said that's barb you know your your babysitter that's her mom and he says to me does she like you and you know talking to him was like playing ping pong your job is just get it

back over the net so with a totally straight face i said yeah all women like me and he said to me he says with a big grin he says so you think you're sexy huh he's like three years old and and and then he said something and my wife blamed me for teaching it to him i said he's going to daycare for Christ sakes. This is where he's getting all the shit from. He was a brilliant artist when he was young. His daycare, there's a kid in daycare who ended up being a professional artist. And the kids could color like you wouldn't believe in a small daycare. And I come up one day and he loved horses, obsessed over horses, obsessed over horses. I'm going to show you something. um and he's drawing horse heads just horse heads and i say what's with all the horse heads

and he says well he says he says the head's the hardest part to draw so i draw them until i get one right and then i finish it i'm going holy is that kid he's three years old when he's through oh wow he was three years old when he drew those bunnies what he was yeah this is the most amazing this is actually truly extraordinary i saw this and i said to my wife did he trace this what where did this come from that was preschool now

I said Thomas those are amazing and he says he points to the good one he says that one's really better and

damn now I'm like my son can't even color in the lines yet let alone that's a good horse that's a good horse yeah that's a

that's a fucking good horse right there you can tell from the handwriting I have a horse I like the horse it's it's a young horse yeah the handwriting shows how old he is that's not a sixth grader so we had him tested when he was reading poorly and the reading teacher was convinced he was learning deficient and I'm sitting there patiently letting her spew this shit and I finally got the end after she's saying all this shit and we'd had him tested and I said I gotta confess the kid you're describing is a completely unfamiliar kid to me

I said, the kid that I know is phenomenally intuitive, phenomenally bright, and he's got a huge vocabulary, huge, because I'd use a big word, and he would stop me and say, what's that mean? And I'd explain it to him. And then finally the shrink says, let's look at the test results. He tested 99% on everything except reading. They had a coloring one where it was like the shape of a house, but it was abstract. Very clever experiment. They give the kid different color pencils, and then they make a legend so they can see which lines the kid drew first, which he drew second. So it was a problem of taking a complex picture, breaking it into components correctly.

And she shows the picture he had to draw, and then she shows this picture. They're identical. And she says, that's an adult-level performance. This was in first grade. and uh and and and he scored 99 she said his biggest problem is going to be when he can't do something easily he will probably get frustrated and that's exactly what happens so when he is competing in concerto competitions if he didn't win he would get pissed off but he was always he was a brilliant underdog he was better as an underdog because his expectations

would be down and then he'd excel like crazy. Seabiscuit. My older son was a disaster. Now my older son at one point I said to his teacher, so let me see if I got this right. The only kids in this class he's beating are crack babies. And she, they're not used to parents saying shit like that. And she sort of swallowed, pretty much so he went off i tried to get him to join the navy my wife wasn't a big fan of that idea he went off to a two-year hotel management program at some college the best i can tell the only requirement is that dad could write a big enough check and why does my phone not and um and then he matured and then he transferred to a four-year program

neither institute was particularly scholarly and then he went to new york city without a job and he's now the director of event management at the council on foreign relations i'm going what the fuck happened what just happened you never know you know it takes different amounts of time to climb mount stupid yeah that's fun climbed mount stupid i mean yeah and i'm in the beginning of this journey it's fun my four-year-old almost four-year-old like he's hit this point where it's like oh wow you can have conversations you keep a diary i do i do you should you should what you should do is just open a word document just start every night do your doogie hauser thing and just type a few just write a few things you don't know what to you don't know what you'll do

with it you just write them down they'll say something so fucking funny and you swear you'll remember it and you won't i remember a lot of shit because i used to tell my tell the stories to my class and and so that that i i like homer was illiterate ilion odyssey was memorized he memorized the damn story um and so by telling my stories to my class i remember them better and uh but my son started out way behind in violin we didn't have a good teacher i didn't know how important it was and then in ninth grade he got a he got a good teacher i think she whispered in the ear of the high school orchestra teacher this kid this kid needs a lot of rehab but but i think he could end up good because he seemed to get treated well yeah and he started out behind

six kids in his class who are all you know korean girls and stuff like that just banging away on the violin like crazy and by his senior year he was concert master he was the guy who got the solo one time he competed in a concerto competition and he um he got a letter saying you came in second place we had no idea you even existed we don't know where you came from you should contact us there's things we can do for you and things like that so so this this group had no idea this kid was just an unknown in town and then he played with a professional orchestra he did a did a solo in a music festival and i remember when the the conductor was a professional orchestra said he's played tchaikovsky and said

when this was written it was considered to be unplayable and then he played tchaikovsky now there's violinists who know how to play tchaikovsky and so they say well that's stupid but again sea biscuit he he took up lacrosse in 10th grade and he he picked it up so fucking fast he played lacrosse so we talked about lacrosse right yeah yeah big lax guy he was totally ambidextrous within a month and a half. And then when I sent him to a bunch of camps, one day he was playing catch for the guy, a Syracuse player. And I watched his coach lean over and say something to the other coaches who were just sitting there watching. I watched them all sort of sit forward and watch him. And the Syracuse player was chucking the ball

randomly. Now, I know a Syracuse player could hit a fly. And the ball was left, right, you know, high, low. And Tom was just grabbing it out of the air from every direction. No problem whatsoever. And afterwards, I talked to the coach who's a former Hobart player. And I said, did you lean over and tell those guys he's been playing lacrosse for four months? He said, yeah, I did. And they were just flabbergasted, just flabbergasted. So he played on a travel team they didn't know he'd never played lacrosse yeah for reference out there like building stick skills in lacrosse takes time for most but it doesn't make as much time as people think though it's a great sport it's a great sport for picking up a little too late

yeah i picked it up in eighth grade yeah i picked it up in seventh and uh and then gymnastics knocked it out i needed to do gymnastics full year so i played for two years um do you watch lacrosse now oh yeah oh yeah so tommy abbott was my teammate oh really i think we talked about this yeah tommy abbott was the the southpaw on my on my attack so i was a crease crease attack he was the southpaw he was clearly better than me clearly um he ended up being three time first team all-american so i didn't know he was that good i just knew he was better than me and as i'm sure i told you before the defenseman who beat the out of me fairly routinely ended up being the long snapper for the cowboys for 12 years rafferty tom rafferty

so my self-image of lacrosse may not be my best sport was was a little distorted the other defenseman who was not a problem at all played for georgetown right so But I was a gymnast at heart. I just wanted to do gymnastics. And I wasn't, relatively, I wasn't as good at gymnastics, but I loved it. I just adored it. I was too tall.

We've got lacrosse sticks in the boys' hands already. My brother played D1. He got them, fiddle sticks. Where do you play? Bryant University. Bryant. Yeah, Bryant's pretty good, pretty good. Do you make them wear gloves when they play catch?

No, they can't catch yet. They just, we're working on cradling. Okay. So once it gets serious, get the gloves on them. That's my advice. Yeah. And my son and I, we play catch. So we had a wonderful time because I bought two sticks

and then we'd play catch two hours a day. And he'd get mad at me for throwing the ball poorly, occasionally. I'd say, Thomas, do you really think the ball's always going to come to the right place? you gotta learn to catch it wherever it's reachable and uh and and he got to that point and again because he was right-handed he played left hand probably 60 or 70 percent of the time to strengthen his left hand yeah and uh so he's truly ambidextrous i can't get the uh the smell of my you say gloves i can smell my gloves uh from my mind now they get to they get a little

rancid don't they the problem i had is i had terrible gloves i mean i had these gloves that were like 10 pounds a piece they were these big leather things and and the other thing is i had a wooden stick plastic sticks had been introduced and i think i think if i'd gotten a plastic stick it would have made a big difference because because they're more reproducible you break a wooden stick you got to find a new stick i uh i coached when i coached that i used a wooden stick just sounds like a flex like all right i'm the coach i got the wooden stick here we go well yeah um yeah i i uh i wish i'd had a plastic stick that would have that would have made a big difference way more reproducible and and um and then i when my son took it up i i i realized he

needs to get a lot of game time. And so I set up two lacrosse leagues in town. It was stupid. I mean, there's no way that we shouldn't have had lacrosse leagues in town. So I set up a Friday night lacrosse. We'd go up to a rink and play box lacrosse. And I rounded up all the division one players. I could find all the high school players. I could find all the coaches I could find. And we play box lacrosse every Friday night. And then I had Tuesday and Thursday evening lacrosse during the summer. And then the Ithaca high school team got better. And one of their coaches said, I want my guys to play together. I said, I'll tell you what. So you take the high school team, you're one team, and I will take the adults and they're the other team. And one of them was like

the Indian national goalie. I mean, we had some Hobart players, Cornell players. I said, our guys will play your guys and therefore you can play as a team so what happened so the first year Ithaca played against a team called West Genesee no now do you know West Genesee yeah I mean they're historically incredible at lacrosse yeah 15 state titles yeah so they play West Genesee and I called my brother and I said ithaca played west genesee in the regional regional um bracket and he said how much of a bloodbath was it and i said well it was not too bad it was eight to four we won and my my brother just shit a brick because because west genesee had you know we beat west genesee when i played

but it was just pure luck and for for anybody listening to this right now to uh to describe the um the reverence people have for west genesee like there's a drill that every high school team in the world runs it's called west genesee it's like you shorten the field up and you go three on three it's called the west genesee so then your two comes your two comes and ithaca didn't have the depth so we had from senior down to freshman when i played you did you didn't start on the varsity until you were a junior. I mean, we had so much depth. You were JV in 10th grade, no matter how good you were. And so then the second year comes, and I figure West Tennessee's going to come back, and they're going to be so goddamn angry, they're going

to kick our ass. We almost took them to the mercy clock. That's where you get so far ahead, they stop turning the clock off when the ball goes out of bounds. So we had them up like 13 to two at one point and and our face-off guy you know how good west genesee's face-off guy's got to be right this is going to be a d1 face-off guy our face-off guy went 13 and oh against them in face-offs 13 and oh so he is was a harvard recruit so i sent an email to the harvard coach and said do you know that your most recent face-off recruit just beat west genesee 13 did nothing on face-offs he's he emails back he said yes i did yes i got the stat line immediately and and yeah so he became harvard's face-off guy and then the third year we won again we took west

tennessee three years in a row and then i passed the the wand over to someone else to run the leagues and they dropped the ball and now we're mediocre again i ran for no dave column what can't you do well I just got them organized I didn't I didn't I actually didn't play I was so tempted but I didn't play I almost tried to play in the Lake Placid tournament I almost that's where you know the guys take off their helmets and the old guys they look like Darth Vader yeah oh my god you know and and you know they're talking about their 401ks on the sidelines 7,000 lacrosse player it's up in Lake Placid I almost tried to play in that and I said no weekend warrior shit bad idea and not worth it not worth it not worth the risk I played box lacrosse for a little

bit after college late leagues after a while especially so so if you're a good lacrosse player you get jobs on Wall Street because the various firms have teams and they want the wall street mafia the wall street lacrosse mafia it's a real thing gotham league the gotham league right the gotham league and uh and and you know box lacrosse players lacrosse was like tony greer played lacrosse for cornell for example um mackinney was one of the greatest attack men in history he was in the towers when they went down um and uh mackinney french that the Cornell lacrosse dynasty with Richie Moran was extraordinary. So McEnany had to play freshman lacrosse because they had freshman lacrosse back then. And Richie would go over to watch

the freshman play and there's McEnany scoring 15 goals. And he was the most crazy-legged attackman you ever saw and his other attackman was french who was also first two first team all americans on one team right this was a this was a this was a legendary team and uh and and they won back-to-back national titles and then they went back to being sort of top 10 um never won another title came close they should have won one it's a heartbreaker what's happened to cornell in recent years they've fallen off since pinell left um well well no not not true i think it was last year the the year after covet so so ivy's canceled lacrosse cornell lost a couple of players because of that yeah they have a brand new coach who was a former cornell player and the next year

they took maryland to the wire in the national title so cornell did not fall off so he got coach of the year because here's this young punk and we were the only team that gave maryland guff maryland owned everyone else they were undefeated it was like the first true season right and we took him to the wire i mean it wasn't like you know 10 to 9 it was something like you know 10 to 10 to 7 or 8 but no one stayed with maryland that year and uh and and that was his rookie season as a coach with several lost players so now cornell hasn't fallen off a cliff we'll see what this year brings that was two years ago i think i don't know what happened last year i can't remember i'm looking for it right now but uh

god lacrosse if you guys don't like watch lacrosse college lacrosse specifically it's uh it's a great sport it's hockey with control it's my favorite sport yeah they Yeah, they won 11-4. It's the fastest-growing sport. They won 11-4, yeah. Lost to Penn State. The amazing game was when it was, I think, a semifinal game against Duke.

And they got down by nine goals or something like 10-1. And it was something like 120 degrees on the field. It was a scorching hot game. And they came back to tie it up and lost in overtime. Yeah, the national championship game. Was that the national title game? I can't remember. But then there was the other one where they went,

I think they went against Syracuse. And Cornell's bench just wasn't quite deep enough. And we sort of gassed out at the very end. We had a three-game lead. We were really the team to beat. And somehow Syracuse pulled it off. And it was so painful to watch. I woke up at five o'clock the next morning with the game in my head.

And I'm thinking, oh, how would you like to be a player? well that was uh that was my my brother's uh highlight of his college career they made it to the tournament as the 15 seed beat syracuse in the dome i remember that i remember that bryant team that's why yeah that's why i clicked when you said bryant he was a captain on that team um yeah that was fun i was in chicago watching that game about to run through the tv well we have one of the um i think it's the chris brothers chris brothers do you know those guys it's one of these five man brothers where where one of them by definition is a goalie and then there's attack and middies amongst the other two yeah the cabin was just one for notre dame last

year right and uh and uh we have one of them on the team and he's still i think he's a junior maybe so the ivies are very good in lacrosse there's still you know the prep schools we don't even by the way get kids from syracuse area if you look at cornell's team there's hardly any coming out of west genesee faithful manly sort of schools they're coming out of prep schools a lot of them coming out of prep schools and uh you know it was created by harkness who was both the foot the the hockey and the lacrosse coach and he had a network in canada he could pull kids out of canada like crazy you want the canadians on your team crazy stick skills tough as nails but but but one-handed yes because they play box one-handed because it's too cool that's right you can spot

them a mile away you can see the box in their style right right from the get-go yeah and so this three three-time all-american on my team the other the southpaw i said to someone i said well he must have he must have lost he must have solved that handedness problem and someone said no he never was he was always a southpaw and i didn't think you could play that level of lacrosse without eventually getting your your weak hand stronger but uh but no he was always a southpaw but very successful very successful um and uh lacrosse is the rap most rapidly growing sport it's moving across the country the problem is now now you've got the you know the the michigans and the notre dames and the ohio states and the and it's and now it's it's going to be hard for the

traditional winners to win and i don't think by the way uh gary gate is necessarily the best coach for syracuse my suspicion is he's not a great coach just a hunch the former philadelphia wings player gary gate yeah well so so i i introduced my son to gary gate i said thomas this is gary gate and they shook hands and my son was just flabbergasted just blown away anyone who's anyone in lacrosse is up in placid you you walk through there and there's just legends of lacrosse as far as the eye can see and uh and uh they're all there and the the open division men's lacrosse is some spectacular lacrosse up there they got everybody up there who is the guy who's paul what's his name from hopkins paul come on give me his name paul

the dude who runs the pll paul rabel yeah rabel yeah rabel was like a sophomore and i'm looking at this kid i'm going this is a man child he's like this huge thing but he's a kid and and he was like six five or six seven or something he's massive he's but just solid just a scaled up version of 120 pound wrestler or something you know he was just just a phenom and you know um not pinnell the other cornell guy won the twarton trophy i was drawing name blank so pinnell and this other guy won the twarton trophy which is the heisman he came to cornell to play soccer and switched to lacrosse now i think he played lacrosse but he got recruited for soccer that's usually you either play football lacrosse or soccer

or lacrosse actually a lot of basketball lacrosse too you know richie moran used to have his team play basketball during the winter because it's it's like a half court half field offense right so he so basketball and lacrosse have tremendous similarities trying to see trying to see the Cornell-Towartown winners

what's his name Kirst was in the running this year yeah he's good so we got a list here Max Sebald that's who it was sebald sebald yeah sebald was actually the one who ultimately sort of had the control of the ball when cornell was a midi there was a midi too wasn't he yeah he was gassed

out he had nothing left he just had nothing left what they should have done was taken a guy off the bench and said take the ball and run as fast as you can just run as fast as you can and no one on that field right now can run as fast as you run um and uh but that's hindsight that's coaching in hindsight. And then Pennell was an interesting case because Pennell was a late bloomer in high school. So he sends tapes to various coaches and he got an offer from Quinnipiac and he was going to go to Quinnipiac. And then what's his face? Tim Broney spotted him and said, we'll take him. He's second team All-Americans as a freshman. And I asked Tim Broney, I said, did you know he was that good and he said i knew he was good i didn't think he was that good i mean

that really that really well and be one of the greatest of all time right um but to be second team all-american as a freshman that no one recruited is a rather it's a serious diamond in the rough moment yeah that's like um that's like the the who is the cowboys running back who was small came from florida um hall of famer not a big guy emma smith yeah it's like emma smith i was hoping deuce vaughn would have a good year he's not the cowboys five foot five inch 175 pound running back i was watching the coaching staff too yeah i was hoping because because when he's out there he looks like someone let their two-year-old out there what is that kid doing on the field right and uh and and he had some great pre-season running but

then he he nothing showed up during the season yeah i don't know dave i'm about to pee myself okay you know if you need a cup you need one of these the cup this one this one is big enough if you're my age that's like twice what you need one day i was drinking ginger ale and i pissed in a cup and i drank the wrong cup that'll happen oh yeah yeah not not twice not twice i keep the cup separate this is this is why i love conversation when you're number one we're always reminded that you peeing cups during episodes but too where this conversation started where it ended it's like yeah the world unrelated fuck unrelated very unrelated but i think it's like a good reminder like this is what we need

to get back to is just worrying about lacrosse worrying about our families worrying about all this shit like this is all exactly right and and and i want to get on rogan that's my that's my holy grail i'll make it happen the mothership is really it's two blocks away from where i'm sitting right now is rogan's yes comedy well supposedly my my resume is on his talent scouts desk but you know he should he should boot one of those you know octagon fighters or one of his comedian friends and make space for me um but someone told me they could do it someone said they could make it happen and and they asked for a resume and and it never happened i had some communication with him at one point um via twitter somehow he he we linked on twitter

but that's about as close his star rose faster than my star so there's a time in his your star's still rising yeah right right right right did you see that video of rogan from 1991 i posted i saw you post it on conan o'brien it's creepy he also looks like he's baked out of his mind he looks so high to me yeah he looks so high but he also sounds totally different yeah he sounds totally different he's he's uh he looks like he took too many punches probably did i mean that's what they were talking about was mma yeah that was that that was like i watched that about three times in amazement that that was rogan i used to watch his taekwondo videos you would not want to get a back kick from him he had a deadly back kick which breaks ribs i don't think any type

of kick from joe rogan he's pretty jacked no no and and yeah there's one video of him where he where he totally knocks a guy cold with a reverse turning kick and he semi semi reverse drinking semi back kick and bam got flat as a pancake um yeah sparring him would i'd only spar him so that i could say i sparred him then i'd be in the icu for who knows how long i'm gonna go knock down the doors to the mothership and then uh is he really two blocks away the comedy club is yeah we're on six in congress in austin it's it's on that's interesting it's on so i did a podcast this week with the guy who does warm-up for dave smith's act okay dave smith's a fucking genius can you get dave smith on here i think i could if i i'd like to i've reached out to him

he doesn't respond to my dms but he's been uh he doesn't respond to my dms either so why does he follow what why why does he follow us and not respond to dms i don't know i don't know dave if you're listening dave smith i'd love to have you on the show and and i highly recommend it and you're my hero dave smith he is we actually just posted a clip uh that was the thing with the epstein list he just did a on his own show part of the problem he did like a good rant on the fact that it wasn't covered in the media at all let you know that but there's no new information that was really disappointing you know they showed the transcript and the chicks were forgetting the the names of all the guys who raped him i'm going no you didn't you just don't dare say it because

you don't want to get capped which i understand i'm sympathetic to that so go take a piss i'll go back to work i'm gonna go take a piss knock up on the mothership um that's all we got today peace and love Thank you.