The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #161 (Other Notable Stories) - Post Office Pods, Never Own a Home, Never Retire

Episode Date: May 1, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. We also welcome special guest host @BitcoinScribe to the show this evening! This week: QR Codes for Visitors to Îles-de-la-Madeleine Houses on Post Offices Australian PM Censors Memes of Himself Young Canadians Think Retiring at 65 Is “Outdated” Never Owning a Home Now “A Good Thing” and so much more From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com ⁠Discord: https://discord.com/invite/YgPJVbGCZX A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This show is sponsored by: easyDNS - ⁠⁠https://easydns.com/⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. With their new kyc-free options, there's never been a quicker, simpler, more private and (most importantly) cheaper way to acquire private Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. Check out the other podcasts on the network: The Canadian Bitcoiners Podcast (https://www.youtube.com/c/CanadianBit...) The NHL 94 Podcast (https://www.youtube.com/@NHL94Podcast) Two Whites and a Blue (https://www.youtube.com/@twowhitesand...) Bitcoin and Barbells (https://www.youtube.com/@JoeyBBandBTC)

The Canadian Bitcoiners podcast is just two guys and maybe a guest or two discussing Bitcoin, Bitcoin equities, and the related macroeconomic space. It's not meant to be financial advice, so please, if you're doing any investing, after listening to our program, do your own research, do your own due diligence, and understand that any money you invest can be lost. The show is meant for entertainment purposes only, and we hope you enjoy the program. Perfect. Okay, good. Len, I like that. All right. So we got a couple of pretty good stories here. I want to start with one out of Australia. The Australian Prime Minister, Anthony Albanese, faced criticism after his recent comments seemed to equate humorous memes mocking him with misinformation that should be removed from the internet. Incredible.

Social media platforms have a responsibility to make sure that misinformation isn't got out there. That's a quote. He then referred to instances where fake images of himself had been removed from various sites scribe what am i to make of politicians who don't like their citizens pumping out high quality memes of them and demand that they are removed from the internet under the guise of misinformation as if i don't know that uh these obviously edited photos of politicians are edited and only for jokes should this guy, I mean the prison colony of Australia,

things are not going well over there for a number of reasons now, but this is a bad one. I would say this is a pretty bad one. Well, I've heard the food is great there. No, I've heard the Australian? The food. Oh, no. Yeah, no.

Look, I've heard the Australian cuisine is spectacular. No, I think these politicians have our best interest at heart. And I think, you know, if they don't want us seeing these memes, then we probably shouldn't see them. And are Australians pumping out good memes? I don't know if I've gotten any. i don't know if i've gotten i don't know okay this is this is a runoff of a story that australia actually wants uh twitter x whatever to censor certain quote-unquote misinformation and like hate speech in australia but also is suing them to censor the same stuff everywhere so australians don't want it or can't have it and no one else can have it either like these guys are losing their minds over there don't forget during covid these guys were like

among the worst in terms of uh restrictions and lockdowns like i'm pretty sure they're they just went into another seven days to slow the spread like a week ago i'm pretty sure i i wouldn't be surprised i can't believe this guy's not wearing a mask in the fucking media clip here not good yeah no that's like anybody that still trusts these idiots is they deserve them as leaders like as far as i'm concerned if you're still in australia after 2022 i mean holy it's a good time over there i mean uh the surf is good you do have to contend with spiders the size of your fucking head when you open a door to go outside. I want to actually play the clip.

I think I have it in the story. I do. Okay, hold on. Let's see. Maybe it's not as bad as they're saying, but it is being quoted by our favorite Twitter account, Clown World. So let's have a look here. Let's be sure.

Can you guys hear that? Media platforms have a responsibility to make sure that misinformation isn't got out there. I noticed today, for example, on the way up here, they've removed various sites that were up containing fake images of myself superimposed on other people. That's the sort of thing that is going on on social media. Social media has a responsibility to do the right thing here. Who is social media? And also also i can't trust anybody who says superimposed what year is it you don't superimpose things anyway what the fuck are you talking about man do you remember would do you remember when trump put his his face on uh rocky yeah i can't wait for the memes this cycle that guy needs to be in every race man guy needs to be in every race, man. He needs to be in every race.

I love it. The beauty of that was that he knew the response was going to be, media will fact check this and say that this isn't his actual body. He's not Rocky. He's not Stallone. Just in case you weren't sure, we need to ban this man propagating this misinformation. Okay, let's go to the next notable story. This is near and dear to me here in Canada, a Canadian town in the Gulf of St. Lawrence,

the name of which I will certainly mispronounce, the archipelago Ile de la Medellin will only, officials say that the requirement of a QR code to enter or leave will only be for tourists, while residents will be required to show their driver's license to enter or leave. Interesting stuff. So the claim is that they don't want people overstaying their welcome. They want to make sure people pay their fees, taxes, whatever, before they leave. And they are now implementing a QR code system to come in or out of this little jurisdiction in the Gulf of St. Lawrence. This is red meat for the 15-minute

city crowd. And I am unclear as to why this has to be the system to make this kind of stuff happen. Surely you can do what we do here in Ontario. If I use the paid highway, they just take a picture of my license plate, send me a bill in the mail. And even if I don't pay it for five years, when I go to renew my license, they're going to make me pay my 407 bill. And they've done it in the past because I've chosen not to pay them or forgot to pay them. It happens to everybody. It's insane to me that this QR code is being issued after the 15-minute city thing, after COVID when there's QR codes for the vaccines. Why throw anyone any red meat unless you're really planning on doubling down on this system? What do you think,

Scribe? My favorite part of this story is that it's the little, is it a township? What's a municipality? Yeah, basically. Yeah. It's 12,000 people and everything. I pulled up the stories. It's all just residents complaining about it. If Canada is this beautiful democracy, how in the world are all 12,000 residents super upset with this? But it still goes through. This is a great point. This is a great point. How do we stop this?

So the decision to require a QR code for all these 12,000 plus residents came after the municipal government announced it would begin charging all visitors who come to the island $30. Something which hasn't gone down well with the locals, as you mentioned, or their family members who visit them. Pretty jokes. The idea that you would charge people to come to an area that if I think, I don't know the area that well, but if I think about other small municipalities with 10 or 12,000 people, what is the thing they're all begging for year round? It's local local economy inputs and they want your GDP. They want your tourism. They want your visits. They want your money. And now you're going to charge them 30 bucks to come. Like whose, whose idea was this? This is Canadian economics at its best, by the way. This is something we see all the time. Just completely backward stuff here.

I don't understand what they're trying to do. Yeah. Well, the, and the QR code goes back to our discussion at the beginning, very beginning of the show about your privacy. Like they, they don't just, they're going to be tracking you. Like, it's just one step towards something that you don't want. So I would say don't seed the ground here, but man, I don't know. It's just so funny to me because you're supposed to, you know, the idea is you live in a town small enough where you know your representatives so that if they do something dumb, they've got to shop at the same grocery stores as you, they've got to see you face to face. So the idea that this is such a small municipality where all of the residents seem upset by it, but it's still past is peak 2024.

This is where we all are now. What if I told you you can get more peak 2024? End of the story here. And I quote, despite concerns, Antonin Valiquette, the mayor of Ile de la Madeleine, says that the QR code and driver's license requirements are legal and that his biggest concern right now is what, Scribe? What's his biggest concern? I don't know. Hit me with it. Fighting disinformation. Of course. Combating disinformation among the citizens for whom the members of the municipal council and I work is what is important. Isn't the important thing actually that you don't do shit that all of them don't want you to do.

Isn't that actually the important thing? Not just telling them they're wrong and anything you see online is misinformation. I could have fucking swore that was the job, but I guess not. That might be misinformation too. We need to fight the disinformation that 11,990 of our 12,000 residents are receiving. Oh, fuck.

Tabernak. Tabernak. Okay. Let's go to another story from Notable North here. I'm going to share this video. I don't really know what to make of this, okay? I don't often share videos of the PM, but I can't really do justice to what was said here. People know we're in a housing crisis here in Canada.

The feds have promised to build some insane number of homes in Canada. Actually, I think the word was unlock homes, which worries me a bit. But they promised to build some insane number of homes. You need to build something like 5,000 homes a day for basically seven years, no weekends off, no hours off. And our prime minister was speaking about some of his plans and his party's plans in terms of building those homes recently. Let's have a listen. How many houses does he have, by the way?

Hard to say. He lives at Sussex. I don't know what that costs, but let's listen to this clip and we'll see if there's any validity to what he says. For example, has more than 1,700 post offices across the country. Hold on, we got to back he says. Hold on, we've got to back up here. He's talking, the first word is Canada Post. I don't know why it's not playing it, but let's listen here. Hold on, one more time

from the top. central locations in their communities. We could build homes or apartments on top of these offices that meet the needs of communities while maintaining the services Canadians expect. On national defence properties that are not required for defence operations, we can build affordable housing and prioritise the needs of members of the Canadian Armed Forces and their families. Work is already underway with the Department of National Defence to unlock 14 surplus properties for homes. Now, it's not how previous governments used to do things.

For example, there's more than seven... Well, my official comment is that I think it's a really good idea, and I'm glad that we've got our sort of shovels in the ground already. We're going to be building on top of post offices and sounds like giving up some national defense installations of which, by the way, there cannot be that many. Our military is basically just, you know, sticks and stones at this point. I don't know your thoughts, Scribe, as an American here, how many post office apartment buildings do you have over there? Surely you guys have pioneered this technique and we're just going to be learning from you. You've already broken the tape on this, I would imagine, no?

Joey, you know what we have here? I don't know if you have these in Canada. We've got boxes where you can drop your mail off at any time of the day. Why not put a guy in there, dude? Why not have someone live in that thing? We actually stopped. We stopped doing door-to-door mail service here a while ago. And I still have a mailbox in my house, thank God, but a lot of the place I lived before, I was a community box. And I just laugh every time people are like, no, Canada Post is a valuable institution. Because sometimes you hear the government say Canada Post is a valuable institution too. They don't want to speak ill of the post office. But all I keep hearing is the post office can't take your cash for Bitcoin or QR codes anymore. They won't pack your packages

when you go there. It's incredible. I went there to do a return three months ago. I think I said this on the show. And I got into a confrontation with the guy because he wouldn't let me use the tape behind the counter. He said I had to buy tape. Their official policy is that you have to buy the fucking tape to tape your fucking package up like okay man and now you're telling me that the post office is just going to be the the lobby of the you know the high rise you're going to be stuffing people into to get the whole numbers up i don't know doesn't sound to me like canada post has a real future in this country do you think i might be on something there i think i might well yeah to something there? I think I might be. Yeah, but look, we talk about shared value.

If you throw some government housing on top of them, you have to get it. It's a big win. That's a huge win. That's the synergy, as we say. I like this post office pods. We got to do that. We got to do that. I think I might, if i ever want to

expand this studio i might just do the next cbp episode out of a mailbox good acoustics in there right here if you put it if you put a meta face mask on too you'd be set come watch me in vr like a feeding tube in a VR headset inside of a mailbox. What a disaster. I love it. You know, you just, so many times we do the show and like Len doesn't often tell me exactly what story he's going to pick. But this week, obviously like I had to go through and pick the stories and honest to God, man, like I didn't put enough of them in the show notes, but the number of stories you could pick in terms of notable content, which is the new name for the second segment, it's unlimited.

You could just go through your bookmarks, go through your likes, go through the Twitter articles that everyone's sharing, and it's everywhere. There's no end to the madness. So the next story we're going to talk about is an article in the Financial Post. The title, Young Canadians Think Retiring at 65 is an Outdated Concept. I'm not sure about that. Canadians' views on retirement are shifting dramatically as the cost of living rises and longer life expectancies become the norm. The idea of retiring at age 65 being one of the early casualties, I can only hope that I will also

be an early casualty if you can't retire. 74% of Canadians between the ages of 24 and 44, that's you and me, minus the Canadian thing for your side of things, say the conventional retirement age with the notion that it represents a hard stop on one's working life is an outdated concept, according to a national ledger survey published by Wealthsimple. There's no chance. I don't know what the fucking question was. I have Wealthsimple on my phone. I don't look at it often because I don't trade stocks, but I don't know what the fucking question was. There is no way that anybody under the age of 44 suddenly is like, you know what? I'll just work until the fucking skin falls off my fingers. Don't worry about it. Retiring at

65 is outdated. I'd rather work till 75 or 80. No one is saying that. Do you know anyone who's saying that? Are you saying that? Who's saying that? I don't know anyone saying they want to. I know almost everybody knows that they have to at this point. Okay. All right. Interesting. And we've got this system here called social security that i don't know a lot of people are saying it's a ponzi scheme i think based on that thing i i don't think i'm eligible to get it until i'm like 74 and a half or something i love it the thing we talked about this on the show a couple weeks ago

and i think i mentioned to you guys in our private chat, but I'll say it again. All I see, if you look at this, not through the lens of fake surveys, look at it instead through the lens of what you just said. Social security, the pension here in Canada, CPP, whatever, is never going to last. They know it's not long for this world. So if you look at things through that lens, what do you see? You see the government in the budget talking about extending amortizations to 35 years when you buy your first house. The average age for a first-time

home buyer in Canada in 2022 was 36. So what is it now? 38, 39, your amortization is 35 years. Suddenly you're 74 years old working to just pay off your mortgage. That's number one. Number two is that the healthcare system, not really that great. So maybe you'll be sick one time or two times during your career, you might not be getting paid. And so you have to work longer for your house. Maybe they'll come up with some way to protect your mortgage for that time. They can get you till you're 80. The problem is that the jobs that 75 and 80-year-old guys used to have, saying hello and slapping the smiley face on you at Walmart, they're going to be done by sex bots or something in the next five or six years. So where are these guys working? There's no one going to the local community center to swim.

There's no old basket guy swapping your clothes out for your fucking tag. So what exactly are these people going to be doing until they're 75 or 80 years old? There's always this idea that, yeah, you could keep working, you're healthy, but there's no job for you. And then also like, just from an ethical, like esoteric sort of point of view here. What right does anybody have to tell me that I have to give my one crack on God's green earth to bolstering the GDP number at all costs for as long as I possibly can? No questions asked. Thanks to a well, simple survey. Where do you get off telling me that? Does anyone have that right? This is another thing. I don't sympathize with the Zoomers almost at all. I think they're softer than baby shit a lot of the time, but they're right about one thing. And the one thing is that working is less and less appealing because you're just being told you have to work forever. No one will give you a decent job. The wages are fucking terrible and you don't get anything out of it. Like you go to, you live in like a little fucking post office pod. You come home from your post office pod to your post office pod, you jerk off, watch Netflix, fall asleep, you know, fart into your KFC Uber Eats box,

and then do it again the next day. You know, like, what is the point? Who wants to do this? Nobody wants to do this. This is insane to me. But if you look at it through that lens of social security is broke, there's a reason why they're pushing people to work longer. They can't pay. They just can't pay. That's what it is. Yeah. The unfortunate part is the future is very dim for a lot of people. And instead of people thinking, man, we should do something to change this, or I should get to the bottom of why this is happening, they just complain and fucking eat flaming hot Cheetos and watch TV all day. I mean, this is the exact reason. You get a bunch of people that don't care at all about what they do. You're not surprised when you go to a store or you go to a restaurant and your food comes out

wrong. You go to a grocery store and everything's in the wrong place and the shelves are a disaster. My first job ever was at a grocery store and I restocked shelves and worked at the cash register. I held a conversation with the people as they went through. I made sure the shelves looked good. That's part of your job. You just did it. Now you don't see that at all. I mean, nobody can really hold a conversation with you. Nobody will look at you in the eyes. You go to the grocery store and you've got an employee that works there that's just pushing around. I don't know if you have these in Canada, but these people that order their groceries for pickup or for delivery, these employees are just pushing around massive carts with boxes on them. And they're in your way constantly. And they've got no problem

being in your way, even though you're a customer at their store. This is why you get this is because yeah, these people don't care at all about what they're doing. And then to talk about people aging, man, imagine you're seven years old in the company that you work for, something goes under because I don't know, you decide to shut down an entire economy for two years. Your entire sector is now all the work's being done by advanced sex bots again. Yeah. Something like that. By sex bots again. Yeah. Or like, you know, whatever, something happens.

And because everybody's, as you put it, softer than baby shit, you shut down an entire economy for two years. Let's say just hypothetically, you lose your job because of that and you're 70. And now you've got to come back into the workforce. It's 70 years old. Who's going to hire you? No company that's looking for somebody to be around for more than i don't know what's the average lifespan 73 so yeah what is the average lifespan is it 73 only for men it probably is not even that high i think

it's decreasing now i know in the u.s it's coming down because everybody's on heroin, basically. You got to choose your way. At 35, you either get on Ozempic or on heroin, but there's no third option. You're going to lose weight with both. One or the other. It's one needle or the other. Boomer in the chat raising a good point here. So I didn't even mention this. The new budget also allows you to take up to 100K out of your RRSP, so your retirement savings for a down payment on a house. So cash in your retirement and spend 35 years paying off the house. It's like something out of fucking Black Mirror, honestly, the way that these guys treat retirement and the expectation that you should ever have a break. Heaven forbid you don't work till you die. Again, I would just say too, how many people in Canada have 100,000 in their retirement accounts?

I don't know, but it's probably not that many. No, it's not that many. You're absolutely right. You're absolutely right. Okay, let's go to the next one. I'm sure you're going to pay a fee when you take it out early. So you do actually, I mentioned this in a tweet, you have to pay it all back or you pay it as capital gains. And so the chances are, the worst part is that if you take it at like 30 to buy a house, when you get taxed on it, let's assume it's like seven years later, you pay at the rate you are then at. So chances are you're making more when you're 37 than when you're 30 or 32 than when you're 25. So now they get you on everything, right? Everyone wants your

fucking money all the time. It never stops. So let let's go the next story here there's one i want to add to the uh rundown after this uh about cottages and whatnot that i thought was pretty funny canadians uh oh this is in toronto star the title of the article you can't make this up this is this is unbelievable the psyop is intensifying here in canada so you may never own a home. Here's why maybe that's a good thing. And the article has, this is really like, you have to share this because the picture they use and the sort of framing is just, you know, you can't do it justice just talking about it.

And so I'm going to put it up on the screen again here. I don't pay for Toronto Star because it's a rag, but look at this woman. Do you not want this sort of freedom? Do you not want this? Look at this. This woman is stress-free. Why? She'll never own a home. That's why. Owning a home is stressful. It's very stressful. Let's find out how stressful. The federal government recently now changes to the borrowing limits on RRSP homebuyers plan and introduce 30 year and mortgages. It's 35 in some cases, uh, for first-time homebuyers purchasing new homes moves meant to make home ownership more affordable. All those measures, by the way, we'll put upward price pressure on housing here in Canada. Uh, well, it's easy to

find easy to feel owning a home is a life goal, it may not be a bad thing to consider for getting it all together, not putting it off, not moving to a place where you can afford a home, not thinking about finding a partner who can help you buy a home and start a life with you, but for getting it all together.

Here are the benefits of being a lifelong renter. You can't make this up. There's geographic flexibility in being a renter. Yeah, you can move anywhere. Sure. But why wouldn't you just move to a place where you can afford a fucking house and put roots down? This is the thing people understand. The stability that comes with owning a home is what leads to family formation. Many studies have been done on declining birth rates. There's a number of factors in declining birth rates. Of course, without cutting your teeth at the grocery store job, you can't talk to a chick at a bar. You

don't know how. That's a problem. The dating apps and the Pareto principle, those are a problem. But a bigger problem that's not discussed because it's inconvenient is that when you don't have a home, you don't start a family because there's no stability. There's no community around you. You don't have the impulse to grow in the place where you are. It's a problem. Or you can listen to this clown. You can end your lease, pack up and plant roots elsewhere. Like yeah, when you lose your job to a sex bot, it's frictionless.

You can go anywhere and rent another fucking post office bot. Perfect. You can live in a post office. It's great. You don't have to get your hands dirty as a renter. What does that mean? It just means you don't have to get your hands dirty as a renter. What does that mean? It just means you don't have to learn any skills. If you weren't always DIYing another house project, oh man, just imagine the extra time

you'd have to invest in growing your income or playing with your kids if you weren't DIYing. This is sick, okay? One of the joys when I was growing up, doing stuff with my father was learning stuff about the house, learning stuff about what are you doing to the house? Why are we doing this to the house? We're improving it. We're spending money on it. There's a renovation, there's an addition, there's a pool, whatever, right. Over the years, that's how you build the foundation for goal setting. When you can look at your father, your parents, whatever, and say like, man, you know, this house used to look a certain way. Now it looks this way. How did that happen? It happened because we planned. We found time and made a plan to save and spend money on the house

and grow the equity and give you guys a better place to live. Not a fucking apartment building. This is ridiculous. You might end up with a lot more free cashflow. I don't know. It seems to me if you didn't have the means to buy a house, more free cashflow might not be something you find in your fortune cookie. Do you agree with that scribe? Am I missing something there? I'm pretty sure that I have that nailed down. Yeah, I a hundred percent agree. I don't, uh, most of the people I know that are these like lifelong renters are lifelong renters because they just, they'd never saved enough to buy a house. And I don't think, I mean, there are definitely, there are definitely a lot of cases where people don't earn enough to save enough, but look, if you're renting, you're just paying somebody else's mortgage, right? So

it's not like your rents. I've never, ever been in a situation where my rent has gone down year over year. I've never even been in a situation where it stayed stable. So you're just going to be paying somebody else's mortgage. You're not getting more free cashflow. More free time with your kids and more free cashflow. Less debt as a renter. Homeowners find themselves in need of fast cash and use home equity line to borrow. How about the scare quotes on borrow against the equity they have in their home? Homeowners just need to cover the interest typically, but don't necessarily have to pay the principal money back until they sell the home. Sounds nice, right? Think again. Many homeowners have basically turned their homes into ATM machines. That is just not true. It's not true. It doesn't work like that. The interest

on large sums of money on your home equity line will pile up. Believe me. Okay. You can't buy a roof on your house without noticing it on your monthly outgoing payments. Yeah. The upside for renters, they don't have access to the loans. The upside is you're trapped in your credit card debt and you're, and you're, and you're no,

you're non non-collateralized line of credit at a rate that is quadruple what I pay when I borrow. It's my house. Good job. Here's your cupcake. Instead of your 5%, he locked you. You've got a 27% Visa card. You have to take it against your fucking Visa card.

The ATM is 20% as soon as you touch the cash. You can add a bullet point to this article. It's like you can't get air miles with Delta when you borrow against your house. I love it. These guys putting these stories in, it really makes me laugh. And I just, listen, I shouldn't laugh at all of it because I do sympathize with people who can't buy a fucking house. I get it. It's fucking hard.

I got friends who were in that situation, but man, the idea that the press has the, the, you know, testicular fortitude to run to the editor's room and say, yeah, I want to run this story about not being able to own a house and living in a post office pod or whatever. Like it's just, it's just, it's not right. And you're setting the bar so low for Canadians. And there is something to be said about expectation setting. And if the expectation is owning a home, you will find that people push to own a home and think that they can do it. And when you think you can do something, you'd be surprised about the results. You may overachieve in a lot of cases. That happens to everybody. But if you think that the only option for you is living in an apartment, jerking off into your crusty sock again and turning on the latest

Sidney Sweeney movie. Maybe not in that order. Actually, I guess you'd probably be doing in the opposite order. The crusty sock was in the equation, but like, I just don't understand why people think that why people don't understand why are Canadians, you know, why are they not working as hard? Why is our productivity so low? Why this, why that? Well, could it be possibly because there's no aspirational youth anymore. Like what happened to that? I always wanted better for myself. My father and mother wanted better for themselves and for us.

Yeah, I'm sure your parents are the same way. A lot of my friends' parents are the same way. This doesn't help that. It's insane. Do you guys see stories like this in the States? I don't look at a lot of US newspapers, but these ones come across my feet all the time. It's like steady nonsense, completely insane.

I'd never consume any real media, uh, any of our mainstream sources. So I don't know if there's stories about this, but I can tell you a hundred percent from personal experience that the difference between living in a neighborhood where you own a house and the majority of people in the neighborhood own their houses versus living in an apartment complex where nobody owns anything. The difference is massive. I live in a relatively small neighborhood in a pretty remote part of the US. And I know all of my neighbors. I've helped them with their own house projects. They've helped me with mine. I was talking to a couple down the street the other day while I was walking my dog, they built in this neighborhood in 68. My house was built in 74. They knew the people that built this house. They knew the people that have lived here throughout the entirety of this house's

history. And now I live here and there's plenty of projects to be done in this house. I've done all of them so far myself, replaced a bunch of flooring. I've done all of the walls. You've been there what, two years, I want to say? Just over a year. And I've done a massive amount of. You've been there, what, two years, I want to say? Just over a year. And I've done a massive amount of work. I'm finishing out the basement, putting in a home gym, fixing up my deck out back. So just a massive amount of work and saved, hands down, without a doubt in my mind, tens of thousands of dollars in labor costs by learning and doing them myself.

And the biggest thing I think that comes with owning your own place and doing the work yourself, getting your hands dirty as that article would have put it, you feel much more connected to the house. You, you have a better, you have more respect for it. Like go to the,

any, any of these apartments, you can even say that the luxury apartments that somehow they managed to build in four weeks. And they call them luxury because there's faux granite on the countertops. But the, you go to any of them and you see the people that live there and they, these people know they're only going to be there for a year or two before they

move. So they have no respect for it. They don't, they don't expect to take care of it. They don't expect their neighbors to take care of anything. So it's very sad. Like I recommend everybody buying an older house to start with and fixing it up yourself and meeting your neighbors and taking some pride in where you live. Um, you know, unfortunately I think we see the media attack that. And actually, as you just pointed out, go for the exact opposite, right? You shouldn't feel pride. You pride. You kick somebody else out of this house. Yeah, no, that's bullshit. Buy an older house, fix it up yourself, take care of it,

have some respect in it, and live in it for a little while. Stop viewing real estate purely as a way to make money and start thinking about it as a way to, like you said, settle down and start thinking about forming a family and contribute to your neighborhood a bit. So I think it's the best thing we all can do yeah that's that's very that's very well subscribed and you know a lot of canadians for a lot of years have been doing this in cottage country we famously have like a really popular cottage country here in ontario and other provinces too because of the lake system uh that we share with you guys and um well you know a lot of people wanted to buy cottages and build up a little bit

of equity and improve the cottages and share them with family. You know, I was lucky enough when I was a kid to go visit family and friends at their cottages and made some great memories tubing and roasting marshmallows and, you know, making, making a lot of, um, making a lot of progress like personally. And, and, you know, over the years, it's just been a lot of fun visiting those places and development-wise, it was always appreciated on my part. But in Canada now, that's not allowed either. We've got another story here, last one of the night

from the Globe and Mail, Paul Kershaw, who looks exactly as you would imagine, talking about you are no longer middle-class if you own a cottage or investment property. This one is interesting to me. I've talked before about how my dad's got some real estate. This really pisses me off. This is in relation to the capital gains tax that has roused rabble in a lot of Canadian media circles and Bitcoin circles. The idea now that you should be able to sell a property that you spent 30 or 40 years building, repairing, improving, and enjoying in a lot of ways. You didn't buy it to flip it. You didn't

buy it to, like you said, make a quick buck. You did it to settle down, right? It's part of your life. You thought it was good for your kids, good for your family. Now, thanks to the capital gains changes, and I think about 50 days from now, maybe a little less, you will not enjoy the same exclusion from capital gains. I think it changes from a 50% discount to a 30% discount above $250,000. As you know, people listening to the show know, the price of real estate here in Canada is going vertical more and more by the month. Cottage country, double as much. You've heard Mark Javid talk on this show about how he was waiting for a market crash to buy a cottage.

He's been waiting since 1990 and so far hasn't had any luck. And so this story talking about how you're actually richer than middle class if you own one of these homes and should be taxed. And owning a special property is no longer a marker of the middle class. We need Ottawa to recalibrate the tax code for the present, not the past. More taxation of second properties is necessary. The worst part about this is that they even call them mom and pop investors. Mom and pop investors are just people who are doing the same things you and me are doing in Bitcoin, trying to get away from a debased currency that's failing in terms of its key features and also starting to waver in terms

of its saving potential. And I really find this to be frustrating because I think that there's a lot of people who come from meager means who have found a way to buy a small property on the lake, or were the first guy on an empty lake and spent their time quite literally weed whacking paths to get to and from the property, to and from the lake, helping the neighbors, as you mentioned, stuff that you're doing in your community, and adding value to those areas through their contributions and through the stability that they bring. And now they're being penalized for it it um again these are a lot of middle-class people mom and pop investors as they mentioned i i find this uh sort of article despicable mr kershaw uh you know a professor of public policy i believe someone told me

earlier today so he's an expert yeah generation squeeze has a podcast actually that i try to listen to but it's it's just unbelievably whiny and sad uh canada's leading voice for generational fairness certainly not their leading voice for modern hairstyles i'll tell you that he looks like uh lyle love it i don't know if you guys know who that is but does he anyway does he have that broccoli cut yeah pretty sure it's like that's modern it's yeah is it it's something i don't know exactly what i would call it but it's these days it's not good it's not good and uh this guy doesn't speak for me he doesn't speak for me papers on this he's in the fucking peer review ecosystem

waiting for you waiting for your comments i i hate this i hate this fucking story this drives me nuts people like the other thing if you take away all the other stuff about mom and pop investing and all that stuff, the country here in Canada, we're in a clear decline. There's not that many places where for not much money, you can enjoy some of the simple pleasures of life with friends and family away from all the madness, except these cottages. And now you're telling me that you can't enjoy it. You can't pass it down to your kids for them to enjoy it without taking a huge tax penalty. It's insane. It's insane to me. Your thoughts, sir? Well, you know, they look at neighborhoods a lot like the neighborhood that I'm in, where you've got a bunch of people who have, you know, most of the people that live in my

neighborhood have been here for a long time. I bought my house from an estate, essentially, the person who built the house passed away and I was able to get the house from his estate. And you take these neighborhoods that these people have put tens of years or decades of their life into where they've owned a house, they know the neighbors, they've built things, they've got a lot of respect for the community. And you get a bunch of these people that come in who live in the middle of a downtown area that is riddled with crime. You know, it's like has all of the things that people that live in these neighborhoods don't want any, they've got no interest in. Like, I don't want to live on top of everybody. I don't want to have people right

next to me, right above me, right below me. I don't want to have to worry about walking to my car. You know, if I have a wife or or children i want them to be able to play with the neighbors and not have to worry about a car going 40 down the street and hitting them that's miles per hour people again 40 miles per hour yeah yeah sorry i don't i don't know what to convert that to but like you take them and then you take all these people like this guy's a this genius who works in a university um comes through, who's probably pro you should never own a house ever, because he maybe never owned a house himself.

And he comes in and says, no, what you guys are doing is actually completely wrong. And it's like, well, what are you talking about? The only response to somebody like this is like, who are you and why are you talking to me? Go away, bro. What are you saying? A lot like you i remember going i never had my family never had a lake house or any kind of no dude he's got the broccoli cut that's what

i can't i can't with the blue steel shit like come on man i i anyway go ahead finish your story go no i mean i i just i was just finishing up by saying I had friends that had lake houses and things like that. And it was always, when I was a kid growing up, it was always like, man, it'd be awesome to have a house that you can kind of escape to in the summers. Yeah. Or if you finally get shut down for two years, you can go to something like that. Well, yeah, I was fortunate enough to live in places that didn't.

Yeah. So anyways, the, yeah, the idea that these people can come in and just tell you that you're, you're wrong about that or that any of it, it's, you know, it's like people in massive cities on the coast telling the people in flyover States that they're polluting by raising cows. It's like, you guys like, what are you talking about? You remember that guy on twitter who like was in a

plane he's he's like flying over some part of middle america and the there's like you can see the pattern on the on the ground beneath him it's like the farm pattern right that you see in these like agricultural areas and he tweets out he's like a reporter for it was like some coastal newspaper the times or whatever uh or the or the um washington post and he's like you know every time i fly i always wonder how the ground got into this pattern i just it's it amazes me every time and everyone in the comments like it's a fucking farming moron like what do you you don't even know like you're so stupid don't say this kind of shit out loud people can fucking see what you're saying yeah that burger the burger you ate at the airport before you got on the flight.

Who cares where all your food comes from in this country? The great A meat, the great A meat. That's a wrap for tonight. That was great, Scribe. Thank you so much for having me. I do want to point out one thing just because I saw it in the chat. There's some hate on Smith machines. I would just say, buddy, the Smith machine is the only way you're getting to partials which is the only

way you're truly going to failure so if you're not using the smith machine i actually view you as a a pretty low quality lifter so far i'm telling you man you and me obviously have been uh talking smith privately thanks to you know the gospel of sulik but uh i haven't watched any sam's videos recently you've been watching them? Every day, brother. He did one a couple of weeks ago where he talked about being on gear. Is that right? Well, I mean, I think it's pretty obvious he's on gear. But he never talks about it. It's obvious he's on gear, but he never talks about it though.

Yeah, I don't think he likes to set that example for people. I think he's admittedly just an absolute freak when it comes to weightlifting. Yeah, he's aly just an absolute freak when it comes to weightlifting. Yeah. Yeah. He's a genetic freak for sure. A hundred percent. Yeah. I like it.

Okay. Tell people where they can find you, what you're doing. The floor is all yours, buddy. Once again, thank you for your time. People like when you come on. So we appreciate it here at CBP. Yeah, man. I'm a Bitcoin scribe on Twitter.

I'm trying to write more. And that's really it. That's really all I have. Good. Okay. Till next time, everyone. Take's really it. That's really all I have. Good. Okay. Till next time, everyone. Take care of yourselves. Tomorrow night, Bitcoin Magazine. Come to the chat. Be reasonable in the chat, please, for fuck's sake.

We'll talk to you next time. Well done. Don't forget, everybody, lots of other stuff on CBbp media network including two whites in the blue me joey my brother-in-law mike and our friend will talk about all the problems millennials are having with finance romance and just getting by uh if you'd like cbp if you like the nhl 94 podcast i guarantee you'll like that one search for it two whites in the blue anywhere you get your podcasts. We look forward to seeing you.