The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #187 (Notable News Stories) - Potential Bank Failures, Bitcoin About to Pop, Canada Pivots (Bitcoin Podcast)

Episode Date: October 30, 2024

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5750 is the number but not the price of bitcoin no we are we are we at 70k where are we well we're at 167 000 with respect to the the block height 69 9 come on boys let's let's make this push it over that well the daily closes at eight so there's always some volatility around that let's see where we end up by the end of the show well let's talk about some late stage fiat oh i love it i love it show the friend of the show uh massa capital who loves about some late stage fiat because i love it i love late stage fiat show the front of the show uh massa capital who loves tweeting about late stage fiat so this jesus fucking christ this story because it just shows you how bad the economy is going according to a study joey 12 million people in the u.s 12 million are in business of influencing so if you do the

mathematics that's mr gnome know that Does Mr. Noam know that? Does Mr. R. Noam know that? He should be aware. If you equate this to the percentage of people working, 7% of people working in the United States of the overall workforce are peddling shit.

Kind of like us, right? I'm a known shit peddler, for sure. But these are full-time people but they're delivering like in my opinion fucking zero value to the economy right like what are they producing what good are they shit like it's fucking nothing 27 there's if you look at the amount of paid content producers in the states is 27 million so what's paid does it have a okay so i saw this story but there's no threshold for paid that was one thing i didn't like about the story they say working in a full-time capacity is a 12

million people so that's your only job i don't believe that i don't believe that though they they say that the average creator according to the study was making an estimated 93 000 us per year in 2023 so you do the math here right like if you look at how many young people are identifying themselves as homosexuals right that's going up it's trending up quite a bit and you look at all the people that are now being influencers i think by 2030 95 of the people out there is either going to be either one or the other, right? Maybe both. Maybe there's going to be Scrapp. But that's essentially it. It's going to be society either you're going to be

enjoying the same type of people that you're warning us or you are an influencer. Shit like this, we're trending in the wrong direction. Remember Tom Vu, man? I remember that guy. And I used to laugh at that fucking guy. Who's Tom Vu? Tom Vu used to do the infomercials

and he used to peddle his shitty real estate shit. And I used to laugh at that. But you know what? I look at that and I long for those days. Those days actually made fucking sense. Who is this guy? You deserve to be broke. He was the best. He used to go on TV. He used to go on his boat, his yacht, and he used to be broke. He was the best. He used to go on TV.

He used to go on his boat, his yacht, and he used to be surrounded by these women. He's got tons of chicks around him, yeah. And he used to berate people. He used to say, you are nothing. Look at me. I'm rich. That's why he used to show people to come to the seminar. But that's the shit I fucking long for.

Not this influencer fucking culture we have here. 7%, Joey. Like that's a significant amount of people. It is. For sure. For sure it is. I'll tell you a story, okay? The influencer game, I think, is driven by like a real – there's a testosterone deficit

in the modern world. And I am convinced that the influencer sphere is totally driven by this testosterone deficit. It's everything from men watching... This guy's full of tea.

He's got a lot of free tea. I looked at a couple pictures of this guy. It's like, oh my goodness. This guy dimes all over the place. His nickname on Twitter, by the way, Tommy. So original. High tea guy. driving this viewer economy. They're watching people play video games. They're watching people tell them how to dress. They're watching people tell them how to work out. They're watching people tell them how to invest. They're watching people tell them how to go on dates. They're watching people tell them that they can get any girl they want. They're watching people tell them how to buy a house. It's watching, watching, watching because you don't have any testosterone to go out and fucking do it, right? Have some more eggs, get to a 225 pound squat and shut the fucking computer off. That's number one.

There's another side to this. That same influencer economy driven by the low T also has this sort of soft core porn side, right? Every influencer it looks like now who's not a man is either like, especially if they're geared, if it's stuff that's geared towards men, there's always tits out like Twitch streamers, you know, sending videos out or shooting videos or whatever, or streaming from hot tubs. like that's not video games. And that's, you can be an influencer because the state will provide the guy with the low T enough money to give you as a, as a Twitch streamer. And it scales so well. You can be every loser's girlfriend from the hot tub for five bucks a month. And if there's a hundred thousand losers, you're fucking rich as fuck.

You're rich as fuck. And so why wouldn't you want to be an influencer? The third prong is that as guys become, this is like now me on my men's red pill platform, but whatever, fuck it. As guys become bigger losers, the quality of shit they'll watch goes down. And so you get worse guys telling you how to go on a date, worse losers playing video games and worse girls in the hot tub. And like it drops the bar for who can be an influencer because the viewers are such loser weirdos. And so over and over again, you just get in this virtuous circle. And before you know it, everyone, everybody gets it. Everybody's cocked by the hot tub streamer, right? Like it just never stops.

And so like you wonder why this is happening. I'm telling you, there is something to my proposed electoral reforms, okay, where you must be able to squat 225. I've heard some other suggestions like you have to be able to change the oil in your car, or you have to be able to like, I don't know, shingle or put up a sheet of drywall. Any of these things will do. But the idea that we have this whole generation of guys

and it's specifically men, I think, that are the core of this problem, not women. This is like, now we're into a mating strategy thing. But again, fuck it. It's guys at the core of this problem. And guys need to dig us out of this by becoming better at being men. And they're just not doing it. And they don't have to do it because the girlfriend in the hot tub is five bucks a month. And you can just go full ditty and start tugging your shit in your basement five nights a week. Your parents are afraid to come

down because it's your space. They don't want to invade. It's all a mess. It's all a mess. We got to bring back bullying. We got to bring back parents kicking the fucking door down when you're in there with the lights off for too long. And we got to bring back dragging people to the gym, kicking and screaming, bring back the rope and PE class. I see a couple of people in the chat. We need to bring back nicotine. We need to bring back steaks. All that stuff has to come back or we're going to get the economy you're describing down the road as those curves rip up and to the right everyone's either an influencer or the other one i won't mention it youtube will probably ban us but you get the idea i think we're already banned not sure if you stop this if we're still on it's just a fucking

blessing i think they just missed us we had a bank fail a little over a week ago this fucking flu yeah you're saying yeah like the first national bank of lindsey i don't mean to laugh but that's the one that failed october 18th it collapsed and this is according to the fdic website the first national bank of lindsey was closed by the Office of the Comptroller of the Currency. FDIC was named the receiver. No advance notice was given to the public when the financial institution was closed. So it was closed and given over, taken over by FDIC because of suspected fraud. And the, it was FDIC insured and it's going to cost, FDIC is going to shell out $43 million to make people whole.

Where the fuck this money comes from? Well, we know. And apparently the bank was, according to the FDIC, identified as doing false and deceptive bank records and other information suggesting fraud that revealed depletion of the bank's capital. So there must have been some sort of bank run that they didn't want to disclose i'm wondering is there a public ledger out there that may prevent this type of thing like you know what i'm just wondering there's got to be if it ever comes to mind i'll let you know but they say people that have in excess of 250 000 in their accounts, they should contact the FDIC to make an appointment to discuss their deposits.

So, like, could you imagine calling the FDIC, right? What's the whole music at FDIC? Yeah. FDIC, yeah, okay. I lost all my fucking money. I had $4.5 million in the bank and tried to withdraw a couple of million. I wanted to go to Costco to buy some food.

That's hilarious. Yeah, the ATM told me to have fun staying poor. I don't know what the fuck's going on here. Some dick-turner is laughing. What could I do? What are you going to do? Please send help. I don't know.

This is just the beginning of many. There's actually a list. You could go on. There's FDIC list that is being administered that shows all the banks that have failed to date to this year. The first, sorry, the Republic First Bank, DBA Republic Bank. That's one full name that April this year. And this one the first national bank of lindsey last year we had one two three four five five of them last year if you recall

there's gonna be a bunch more coming up yeah right this one it sounds like it suffered a bank run and and that's scary like your money like i was trying to tell people your money when you put in the bank it's not your money anymore it's trying to tell people your money when you put into bank, it's not your money anymore. It's somebody else's because they lent it out. Officially. It's not even like they try and hide that people don't often talk about it, at least not outside of Bitcoin.

But yeah, this is like a fact. It's fact of the matter. It's how this thing works. The whole Ponzi runs on that principle. When you call the FDIC, this should be the hold music. I think, are you ready for this?

This is going to absolutely, this is going to absolutely thump. Okay, are you ready? Hold on. Hopefully you can hear this. I'm going to kick it off, right? Sir, if you could please submit the papers in triplicate and make sure that they

are submitted between the hours of 1 and 3 p.m. only on Thursdays, you will get an answer back within six to eight months. Thank you very much. Why is that the most dog shit quality? It's terrible. That elevator music is so good. I wish I would have found that before.

But anyway, yeah, not great. Stay away from banks. Banks are harmful. Harmfully ill. I don't know about the World Bank. I didn't get too much information. It just got like this snippet of it, but it was pretty funny. But apparently, they've been collecting climate change funds. banks are harmful. You hear about the World Bank? I didn't get too much information on this. I just got a snippet of it, but it was pretty funny.

Apparently, they've been collecting climate change funds, and $41 billion have been unaccounted for. There's no clear public record detailing where the money went. Have they checked in Ukraine? I want to go back. There's got to be a public ledger that exists that can help alleviate these type of problems but again it's kind of escaped me 41 billion dollars

climate change god man oh yeah good for them yeah i guess so not bad let's get pretty good money if you can get your hands on that eh yeah the only saving grace here is that in a few years 41 billion won't be able to fill up your your cards at the costco so like if they don't spend it soon went to costco yeah just 41 billion this week on eggs, because they're fresh. Let's go to Notable North. I'm not sure if you got wind of this one, but this past week, Humber College, they announced they're going to be closing its commercial truck driving program.

How funny is that? Why? Why are they doing this? There's a reason. Joey, there is a reason, and you're going to love it. I already know. Changing market conditions. They are changing.

Just no more LMIAs to drive a truck into a fucking bridge. No, no. There's more than that. This program is going to unwind December 2024. That's over 30 years of operation. And they're saying due to uh enrollment challenges in a highly competitive landscape they're going to be closing down this thing really i don't think it's the shutting down or reducing the lmias or like all this i think it's just the there's other

smaller alternatives smaller companies providing the same and it's doing at a cheaper rate and it's a cutthroat business i think i think maybe in the most generous interpretation it's possible that humber is unwilling to lower the standards to these smaller school standards and is as a result not getting the same number of people so it's possible yeah which is possible so i should retract my earlier statement though you know there could could also be that could also be a factor. I don't know. The way I see colleges now clamoring, whining, and it's not just colleges. Mac here in Hamilton is complaining that they're, you know, the international students are a vibrant part of our community.

Shut the fuck up. OK, we'll get to that when more of these universities close. It's not an international student story. But I will note that many people have discussed over the last few years an uptick in erratic and sometimes dangerous driving by big wheel operators. And you can make of that what you will. I think these two stories could be related, right? Where you're seeing standards drop at smaller schools that

maybe don't have the same governance structure, same accountability model, all these things, and also don't receive public funding. It's good and bad, right? Hopefully it shines a light on some of these smaller schools. But my guess is that it won't change until we see some kind of catastrophic incident like Humboldt a few years back or whatever. It's too bad. People will lose their lives over something like this. But we don't learn our lesson unless we touch the stove, like I said earlier. So expect more change of this nature.

Did you know that universities in Ontario, just Ontario alone, are set to lose $300 million this year? It's not enough. And next year they're going to say $600 million in total due to the number of international students being reduced. So yeah, the problem with that, though, Joey, is how are they funded?

Public money. So that's going to have to come from some other pot. Healthcare, maybe? some other pot yeah um health care they'll have to close they'll have to close uh the you know they'll have to fire the entire administrative army and the vice president of you know diversity and equity in all these schools who makes 250 000 a year uh encouraging you know whatever encouraging whatever diversity means that month on campus. The schools are bloated administratively, for sure. That's 100% true in every case. That's true at the municipal level, at elementary school administration, in elementary school

administrative pods. It's true at university and colleges, and it's probably true other places too. So there's bloat there. The money they're losing from international students or whatever they attribute this loss to, I'm sure they try and spin it in some other way, but clearly we know what the problem is. That money should have been spent expanding operations instead of just basically feathering their nests, which is what they did. It should have been spent increasing the quality of education instead of feathering their nests. It should have been spent fixing infrastructure. Or how about building some fucking homes

around the schools where you pushed home prices up and rental costs up thanks to the influx of students. You didn't do any of that. Instead, you tried to pad your own pockets and now the chickens are coming home to roost. Slowly but surely, those chickens are coming home to roost. And I'm looking forward to more stories like this with much bigger numbers because these guys deserve it. They totally deserve it. They were on this gravy train. They thought it was going to last forever. They were part and parcel to this idea that anyone saying international students were causing problems was a racist or a xenophobe they they parroted those talking points they uh stamped and branded students with that that sort of thinking trying to propagate the scam and now they got

fucked and so i have no sympathy for them i hope all these guys lose money i hope all these guys lose their jobs they deserve it more than almost anyone else in this whole scheme 15 000 people joey lined up at cloverdale fairgrounds in bc and why did they do it because they're trying to get their hands on ugly potatoes is there is a farmer over there that grows potatoes and the ones that are irregular they have odd shape growth cracks or bruises that are just deemed to be ineligible to be sold there will be given away to the public so pouring rain 5 000 people immediately lined up to get their hands in some of these potatoes brutal well 15 000 people were there like that's a sign that the economy is

not doing all that well wait man I thought it was doing really well. It depends who you talk to, but I guess you asked one of these 15,000 people are lining up for ugly potatoes. Like, you know, that that's a sign. I mean, I have another story that I could follow up and it just goes to show you

like, just this is the way things are trending and will things get better? Will food get cheaper or more affordable for people as as things get more costly will we just keep up and the people that are shut out right now how are they going to get access to food because the very least you know you need food sheltered and i don't know what like that's the bare minimum i guess to survive it i'm missing for sure no so and if you don't if you can't get food like that's one of the like that's one of the ingredients you need just to fucking live and these guys are just

lining up i say guys these individuals lining up for potatoes ugly potatoes like i don't know this is it's a sad story potatoes by the way not that good of food when they're not ugly it's like i'm pretty middling starch in my opinion you know don't throw anything at me, but I'm not a big potato guy. I'm told all the time that the jumbo rate cut that we got last week is a sign that the economy and economic policy is working. I'm told that the problem is just that I'm not understanding how good things are, that I'm not... The communication, I'm not being communicated to in a way that helps me, my small brain, understand how good life is for Canadians. Maybe if those people in the parking lot had just been told that they don't need ugly potatoes, that things are going really well, maybe they wouldn't have lined up. But it seems to me that there's more and more stories.

Do you have a food bank story this week? Yeah, that's exactly it. Sure. Of course you do. Of course you do. Why not? Every week there's a food bank story on this show. Well, the monthly food bank usage in Canada has soared to a record $2 million. And the reason for this is because of higher costs for food and housing and so forth. So people don't have the ability to feed themselves with what they are earning. So they're going to

the food bank. So an annual food bank survey was done and in march of this year it's just march so things have changed since then probably trending in the wrong direction two million visits were done in march 2024 and if you do the mathematics that's more or that's almost double that was done in march 2019 and so if you want to do the math, it was in March 2019, 1.08 million people visited the food bank then. And now we're at 1.93 million. So, yeah. It's a lot. 1.93 was in 2023.

That's a lot. That's a lot of people. But it's going in the wrong direction, right? It doubled in five years, nearly doubled in five years. And that is a true indication of what inflation is. I have an honest question for you that's going to be hard for you to answer. But thinking about this story and comparing to some of the videos I've seen online, they're on YouTube, they're on Twitter, they're there for anyone to see. Again, not to blame international students for these things, but there's video after video after video, TikTok after TikTok. CBP is on TikTok now, crushing it by the way.

And on TikTok, because of the content of our stuff, when I go to look at our analytics, it just feeds you like it starts you on a feed. And on this feed, I see a lot of foreign students talking about how to use food banks in Canada. And on Twitter, I see videos of the same thing. And on YouTube, I see videos of the same thing. And on Instagram, I see videos. You know, how much of the food bank usage is illegitimate while many people actually need the food banks to live day-to-day thanks to the pressures that stuff like immigration, stuff like sorts of names, canceled, forced into unemployment, removed from friend groups, removed from community groups, removed from school groups, removed from schools in some cases, if you're a post-secondary student, for saying that these things would happen. And instead now, you have these stories

every week basically about people lining up for bruised fucking potatoes or going to a food bank. What is the situation where finally it'll be enough? When is the straw going to break the camel's back on all this? It should have happened already. Yeah. Are we really that apathetic? It seems like we are. I don't know. It's not even affecting me. It's not even affecting you. Are we really that apathetic? It seems like we are.

It's not even affecting me. It's not even affecting you. But I find myself raising my voice on this show, raising my voice when I'm at social gatherings, raising my voice alone in my car. I am always at an elevated level talking about this stuff. And why the fuck shouldn't everyone else be? You know what really impacts people is when it's visible to them.

When you leave your home and you walk outside and right away you see a homeless person right there, then it's noticeable. Or you go into work and as you're walking into work, you see a homeless person there, then it hits you hard. And for the people that aren't in those situations because you live in a nicer area or you go to work to a nicer area of town, you don't see it. So maybe a lot of people aren't or people are even working from home and are just shielded from this stuff. I don't know. I honestly don't know. But the people I just wanted to talk about the people that are abusing the system, whoever they are, that anybody out there should be named and shamed. I agree. Taking my food.

Totally. You're essentially robbing. There's no there's no shame there's no shame in the people doing it none they post videos on how you can do it too like that's disgusting behavior disgusting behavior their bitcoin addresses should be made public and we should know exactly how much they've been spending where they're spending it so yeah it. We have to do something about that group of people that are just doing that kind of garbage. Whoever they are, I don't care if this or that or

where they're from. I don't give a fuck. Stealing food from people that need it is fucking wrong. There's kids out there that are going to school starving and you're taking food away from that fucking child. Brutal. You know, like, come on.

Let's keep on this train here, because there's an Ontario man that was granted euthanasia, so they made, and this was because he was suffering from post-COVID-19 vaccination syndrome. Wait a minute. Wait a minute. That can't be right. There's no side effects from those vaccines. and he was twice administered i'm sorry twice admitted into hospital and once involuntarily because he had thoughts of suicide in fact a year ago before he even was euthanized he even

tried committing suicide by jumping off from a high altitude from the height right so he maybe from a building or from i'm not sure but never never ended up working for him um yeah like this is another one like this is sad shit man and i hope whoever like these companies that push this shit you know without too much testing you know like people like this man it's sad to see and you know they used to say if it saves one life but one life and here's one life that's lost as a result yeah exactly i i i see your comment fringe ginge um i can't i can't respond on in text so you know he's asking i heard about this stuff but what is post-covid vac syndrome i don't know i have no idea i'm lucky like i i have i got two shots um like a lot of canadians

i got two shots not because i was afraid of COVID, but because I wanted my fucking life back. And, you know, I was lucky. I didn't have any problems, knock on wood, you know, so far anyways. And a lot of people didn't have the same experience. A lot of people had problems with their heart. A lot of people had problems with their functionality after, you know, this guy was in decline, ended up having to be, you know,

ended up going to the self-checkout line. And it's just like, you know, there's a country from 10 years ago where none of this stuff was thinkable. None of it. The 2015, 2014 Canada, none of this stuff was on the table. None of this stuff had been conceived of. None of this stuff was imaginable at that time. The mandates, the lockdowns, euthanizing people who can't get healthcare that they've paid for their entire life. You know, the healthcare won't allow you to seek treatment anywhere else. You're stuck here unless you can pay for it yourself. So you basically pay twice.

None of this was thinkable. And now just another week on CBP, just another story on CBP, just another story in the national post, another guy, some problem, kill him. Don't forget. It's not, this is not a story that's, you know, like it's significant because of the COVID thing maybe, but don't forget there was a, you know, like it's significant because of the COVID thing maybe, but don't forget there was a, you know, an administrator who offered a special Olympian who asked for a wheelchair ramp assisted suicide two years ago. Do you remember we did that story? Oh, yes. Like this is not what first world countries look like. And so again, when we talk about the swan crossing the

road, okay, you're not looking for the black one. You're looking for the volume of the white ones. And it's a growing number. That pack is getting more and more dense. Okay. Like these are, these are all signs that you are in a decline. And you can say you don't realize that you don't get it. I don't care, blah, blah, blah. You have to start caring at some point. Bitcoin is an important part of this. It's an important part of your exit strategy. Not only if you have to leave the country geographically, if you have to leave the jurisdiction, but just separating yourself from the insanity and the constant anxiety associated with this type of thinking. You don't have to do this. You can just go on Bitcoin, Twitter,

shitpost, lift weights with your friends, have a couple of beers, go to the cottage, and enjoy your life. You don't have to constantly be around this kind of stuff and think this way. These people are not conducive to a high quality of life for you, average Bitcoiner. You can do better than this. And Bitcoin is the first step, but it's, I think, one of the most important ones as well. Canada apparently

has been giving money to Afghanistan since 2021. We've learned through this from somebody doing some investigating in Global Affairs Canada. $367 million in total. So what's the government over in Afghanistan?

They're unrecognized Taliban by most countries in the world. So this is according to the National Post. Internal documents state that Global Affairs Canada was saying, quote quote this could generate negative media interest could yeah so so the money that's been sent over for humanitarian and life-saving aid it's 143 million for humanitarian aid 70 million in development aid that was in

2023 and also 48 million in development aid, again, in 2023 as well. The spokesperson from Global Affairs was saying, Canada has continued to provide development assistance to the people of Afghanistan. Man, that's... What have they developed for $300 million? A runway for their F-15s that they've inherited from... For the parade they had with American military vehicles? Is that what we...

Interesting. I don't know, man. And how many food banks could we have stocked with that money? And how many homeless encampments could we have given affordable lodging to? And how many drug addicts could we have pulled off the street and treated? And how many kids could we have given good education and a quality meal when they got to school? How many elderly could we have given healthcare to? How many people on waiting lists who fucking died could we have had seen and treated? It's a farce. This is the end of empire,

man. There is no other way to describe this. It's everywhere you look now. And you can choose to ignore it. You can choose to say, orange man bad, polyeth bad, this, that. It doesn't matter. None of this stuff matters. This is the end of the empire.

It doesn't matter who's in the throne. The party's over. You got to get into Bitcoin. You got to separate yourself from all these people, these groups, this thinking, these ideas,

and start thinking about who you want to spend your time thinking about who you want to spend your time with and who you want to build your either hypothetical or actual Citadel with. Because Citadel days are coming sooner than you think, in my opinion. I think these things are starting to accelerate, as we like to say. And you see stories like this, and you're just like, oh, another half, almost half billion dollars gone to something i'll never see development that will never be tangible there or here and meanwhile there's a guy you know strung out on fentanyl on the corner down by my kid's school that's good perfect or

outside the uh the outside the office where they had the election yeah where we had that outstanding what a moment like that's end of empire stuff and he was that that should be in the history books man i like that he was blaming everything else but the guy behind him yeah because that was amazing absolutely amazing canada and other g7 nations they have come to an agreement well i'm gonna just lay the table here when russia went to war and invaded ukraine a lot of these g7 nations all of them they decided to freeze russian assets and so they closed off around 280 billion u.s of assets were frozen so just this week it was confirmed that from that they're going to be sending aid 60, sorry, $50 billion is going to be given to Ukraine for their war efforts. And this is going to be

from the frozen Russian assets. Canada is going to be providing around 3.7 billion US from this. So yeah, they're continuing to feed the machine over there and they're using frozen russian assets now what this like for me i think this is kind of an orange pill moment more than anything and i don't want to say what they've done in terms of freezing was good or bad i don't want to say what russia did was good or bad like everybody knows what every you know can make up their minds about this shit but the reality is it's another indication when it's your money that's put somewhere it's not yours oh yeah but bitcoin if you have those keys it's yours you can move that bitcoin anywhere you want if you don't have them it's not yours but this is another orange pill moment like i can't see why anybody would look at this

those people that are impacted other people that could be potentially impacted and just say why would i consider continually do with this kind of stuff you know put in a bank and get rugged why don't i just buy bitcoin and i have total control over shit like this is another orange pill moment simple as man like nothing is yours except bitcoin not your house not your stonks you, not your Twitch stream or hot tub girlfriend. None of it. The only thing that you got is your Bitcoin and your Bitcoin wallet. And you can keep playing these games with states and state-level actors and NGOs and multinationals. Everybody wants a piece of your pie.

And their fingers are always just hovering above the crust ready to dip in there. And you know, the more you do this, you didn't want to talk about the nature of the frozen assets there, whether, whether or not you agree with the asset freezing is not the thing. The thing is that the assets can be frozen. Like they can be seized. That's a, that's a foreign debt vehicle. Like How is that possible? Well, it's possible because none of it, none of it is actually yours to begin with. It's all theirs, whether you're a country or a guy in the basement. The sooner everyone figures this out, the better. The problem, with people figuring this out and having an orange pill moment is they don't have anything.

And so they're not concerned about anyone seizing it. That's, I think, Len, with people figuring this out and having an orange pill moment is they don't have anything. And so they're not concerned about anyone seizing it. That's, I think, another thing we could talk about in a longer form show on that topic. But this own nothing is a plague on people understanding that ownership is now at stake, excuse me, longer term. And it's becoming, I think think a significant issue all over the place not just uh here in canada in the u.s but everywhere let's talk about liabilities joey yeah home yeah so there's a story that came out this past week because now canadian homeowners that are using their property as short-term rentals like air bbs and shit like that it's potentially you could be charged 13

tax when you sell your home and this stems from a court order that came out some dude was using his home and it is a residential complex they say that he was operating like a hotel aka airbnb so when he sold his home um after the courts came in they decided to go against him and now he has to pay taxes of around 77 000 in gst slash hst and so people that are using their homes for short-term rentals you're gonna potentially be charged an additional 13 when you decide to sell so there's another reason why people may not open things up for short-term rentals. And who knows, maybe they'll just leave it empty or I don't know.

You look at this and again, it's not really yours in a way, right? Like you were just talking about it. It's not. Okay, here's a question for you. I saw this headline a few days ago, but I didn't dig into it. How did this end up in front of a judge?

That's a good question. I know this extends back to February 2008. I don't know the specifics around that, but I think that it was the city itself, the city of Ottawa, or the condo board over there that was trying to chase him for this because they must have been pissed off

that he was using this as a rental. And if you're in a condo and you see next door just new people over and over again they're using it as a you know partying and stuff like that you kind of get pissed off you want to get it take it to the owner and that's what they kind of did here so at least they complained to the right people and they took it to so i guess yeah i mean i don't have much to add to that story your house isn't yours you can't use it however you want you can't live in it however you want. And the government can decide arbitrarily on unknown, you know, against an unknown rubric

that your house is taxable on sale. Thanks for playing. That's it. There's no, there's no option for you at that point. You think you just owe the money. You owe them 75,000, 77,000, whatever it was. And I guess we could talk about about there was a rate cut this past week. It seems like so long ago, but

the past seven days, actually it was five days ago, I think, that there was a rate cut in Canada, 50 basis points. This is the third in a row that we had, fourth in a row? Fourth. Three 25s and now a 50. They're aggressive. You're well you don't

you don't do 50s unless there's a problem that's you know just the state of affairs in finance so what's the problem we're gonna find out i'll tell you we're gonna find out what the problem is they know what the problem is going to be they're looking at some plumbing that's obviously not you know in their favor and they know there's going to be a problem. And we're about to find out what the problem is. Like I said to Mike, I want to live in a world where policymakers are not talking about rate cuts the same way they're talking about Costco hot dogs. I don't expect to see politicians or central bankers celebrating a jumbo rate cut. I don't want to see that. That's not even handed policymaking. And, you know, we've seen the results and we're going to see what, what becomes of this. You know,

the, the question now is what's going to happen in December, right? There's another meeting in November, December, you're going to get another cut. You're going to be down to basically 2%. That's a lot. That's a lot. They're unwinding as fast as they wound up. Well, the last time statistics can reported on inflation numbers, it was below 2%. Yeah, because oil is because gas is $70 a barrel. So they're trying to get that magical 2%. Like that is, I know it was a very small sample size.

It was just one month that they got below their target range, but don't know what two percent why is that the magical number i mean it's you know why the story is that it's just an invented number it sounded good to the guy who came up with it and it's you know very simple like if i tell you the shit goes up in price really two percent every year you don't really notice it year to year but after 30 years you look back and say, holy shit, I used to pay for a car this month. So it's just death by a thousand cuts.

And for things to go up in value by 2% means that the money supply has to be going up at least by 2% as well. For sure. Everything doesn't go up in price unless the money supply also increases as well. So that's whatever it is, what it is. And they're trying to work on this the problem that exists and they're gonna keep progressively cutting and the united states is also the day after it's next week on sorry is it next week yeah wednesday next

week i think it was there thursday yeah thursday i think is the meeting okay so there's you know there's a potential because the u.s can't count fucking votes in a night god only knows why cheating uh they potentially are going to have a rate decision meeting without knowing who the president is yeah that's it's a very likely possibility unless there's a sweep somehow there's a sweep and some states that just they haven't decided yet just don't matter in the end yeah i'm i don't think that's a likely possibility i think it's going to be very close relatively close and as for who's going to win honestly i know a lot of people are saying trump is going to win these prediction markets say trump still i'm still flipping a

coin yeah maybe i don't know it's hard to say for sure. Just looking at some of the polling now, too, you're starting to see some Trump momentum. But I mean, ultimately, it doesn't matter. That's the thing you got to remember. It doesn't matter if he wins or loses. It doesn't matter if tick up in inflation. It's going to destroy economies, it's going to destroy savers. And you're going to wind up in a situation where people are going to be looking for handouts. And as a Bitcoiner, you're going to be in a pretty good spot. The question is, are you going to have the nuts to be able to hang on to your Bitcoin before you get there, before the flood of money comes? Are you going to be the guy who sells at 100K, 150K, 200K? Are you going to be the guy who pays your mortgage because your wife's in your ear about it? Don't be that guy. Don't. Hang in there. Fixed rate debt, especially low interest debt, not financial advice, is good debt to have. And there's not many opportunities to have it. Your know, your mortgage is one.

Don't dump it because you, whatever, feel like you're getting something right on $100,000 Bitcoin. My laptop battery is about to die. Do you want to wrap it up? Let's do it. We're done. Okay.

How come you're not plugged in? Do you never get plugged in? I forgot my plug upstairs. Yeah, I totally forgot. I can't believe it lasted that long. That's pretty damn good. Yeah, this is a quality laptop, as you know. Okay, so listen. Come back Wednesday for

me and Ben Rabideau. We're going to be talking about a lot of stuff we actually just touched on tonight. We're getting in some more in-depth, and I'm sure Ben is going to have a lot of good stuff to say. He's a very bright guy. You should all be following his stuff. And until Wednesday, take care of yourselves. And don't be a cock.