The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #189 (Notable News Stories) - J Pow Stands His Ground & Refugee Claims

Episode Date: November 13, 2024

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Okay, perfect. So we could just transition to the rest of the stories, which is, first off, I'm just going to say, have you looked at the price of gold recently? I've never looked at the price of gold in my life. Okay, I'll give you an example. So the price of gold, like, for, you know, for let's be honest, people would look at gold as a store of value. And historically, it's been a great place to do so but for the past decade or so it's been pretty shitty in terms of that uh it hasn't been all that great and just today we have bitcoin the price of bitcoin jump up quite a bit in past week bitcoin jumped up what like 10 a little bit more than that but gold in the past week has dropped four percent I think there's something going on or maybe an unwinding. Somebody suggested to me as a thought,

maybe there are people starting to sell their gold allotment, maybe an ETF that a gold ETF and maybe buying a Bitcoin ETF. So there could be a slow transition now of capital from gold to Bitcoin.

So, so what you're saying is that if we hooked up a steam generator to Peter Schiff's temples, that we would probably be able to power the Bitcoin network with how pissed off he is right now. But he's irate. I absolutely irate. So it boom does says gold has doubled in the past five years.

Bitcoin has doubled in the past six months or something like that, whatever the fuck it was. We've gone from what? 20K at the start of this year? 30? Something like that? Granted, we're talking right now gold is a $14 trillion market cap, so it's a huge

ship to move, but still comparatively, it's very slow in reacting. The fact so it's a huge ship to move but still you know comparatively it's very slow in reacting and the fact that it's gone down on a time where people are parking their money in an asset that they want to see protect themselves from debasement in the future and they're picking bitcoin rather than gold to me that's a telling sign and very encouraging as a bitcoiner it's like i was saying earlier i think it doesn't matter where you are in the political spectrum. Now is the time to buy Bitcoin to protect your interests. I love how agnostic it is to political beliefs. Everybody thinks that their political beliefs are being represented by Bitcoin

and they're right. But what they don't see is that everyone else's political beliefs are also being represented by Bitcoin. So it's fantastic that there's this incentive for everybody. This is the thing that the right and the left and everybody else we can actually agree on. We want sound monetary policy. We want decentralization. We want people to be in control of the policies that they're governed by. Certainly monetary policy is one of those. And I think that we're going to actually see an expansion of that in the coming decades where people put more and more of what would

previously be government policies into action through Bitcoin in layers with their own governance models. But the first thing we're going to have happen is we're going to have cheap credit because the Federal Reserve dropped interest rates another 25

basis points this past week and we could you know as bitcoiners you can say what you want about it we all look at the price denominated in u.s dollars and the federal reserve federal reserves their decisions impact the price of bitcoin heavily and the fact they cut interest rates again not as high as a lot of people thought is interesting, but this is going to be a line of a series of cuts to come as they trend towards zero. Their overnight lending rate will eventually get to or close to zero. So it's going to be chief credit for all eventually, but we touched upon it earlier, but the best thing about this rate cut,

there was a press conference after and Jerome Powell was there and they were talking about him stepping aside to fast to leave. And he and he said no he's not going to do that it's not you know he's going to stay on regardless if Trump asked him to resign or not so it looks like there's going to be some sort of civil war going on between the White House and the Federal Reserve not the best time to have this I think when you're trying to stabilize markets and try to ensure that people are supporting the currency and there's faith in the currency. When you have the Federal Reserve chair and potentially the president-elect talking at

ends, this isn't a really good sign to me. So it's all the more reason to buy Bitcoin. I don't know if you have any thoughts on that. Yeah. So you mentioned that people care what the Federal Reserve does because it impacts the price of Bitcoin and I'm just I'm going through my mind of all the possible actions that a central bank like the Federal Reserve or the Bank of Canada can do to impact Bitcoin and I'm not sure that there's any I'm not sure they have the ability to impact it negatively if they if they raise

interest rates it means they're printing money and they're trying to stamp down inflation. Printing money, good for Bitcoin. If they are lowering interest rates, cheap credit. People are going to take cheap credit, dump it into Bitcoin. Raises prices. If they adopt Bitcoin, something like a strategic reserve, good for Bitcoin. If they ban Bitcoin, that ends all of these centralized attacks. It kills all of these shitcoin exchanges. It enables Bitcoiners to be using peer-to-peer and decentralized marketplaces and more anonymous technologies. That's good for Bitcoin too. There's not an action that a central bank has available to it that's negative for bitcoin everything they can possibly do is a good thing for bitcoin it's either you're going to speed it up or slow it down

if they try and slow it down they just make it better like say they banned it if they if if tomorrow the the united states or can Canadian governments banned Bitcoin in those countries, Bitcoin would be healthier. There would be more node runners. There'd be more people using and giving volume to peer-to-peer exchanges like BISC and RoboSats. And there'd be less scam victims. There'd be so many less scam victims because it'd be illegal. So there's just no losing here. People say,

holding Bitcoin the way that you are, you're gambling as much as anybody on the stock market or at the casino or whatever. I really don't see it that way. I see the way that this game theory plays out as a very asymmetric risk game. Bitcoin can only go to zero, but it can go to infinity on the other end of the scale there there is so much more to be gained by just having bitcoin understanding bitcoin

having hard money at all than there is to to not like it's not going to you know it's not gambling on stocks this is function function that i've personally been using for over a decade it's fantastic i think we established it's not going to go to zero there is a floor here and i'm just we are putting in the floor we we are so yeah boom dust if canada bans bitcoin this becomes the canadian i like this uh boom dust guy he's, he's a great guy. I want to plug his stuff. He's in the Ottawa area, and he runs a Bitcoin meetup Wednesdays, I believe. Every Wednesday. I could be wrong, but either way, he's on Twitter. Check him out.

And he runs those Bitcoin meetups. From what I gather, I've never attended it, but HiSignal, you will learn a lot. And I think bitcoin has a presence there if i'm not mistaken but again i could be wrong but he's a great guy it's such a rough time with my local meetups um they're a lot better than they were 10 years ago i'll tell you that there's a lot less shit coining going on but it wasn't like 10 years ago i'm curious what an average bitcoin meetup would have been like so i think one of the worst Bitcoin meetups I was ever at was actually at the Quadriga

building in Vancouver. They used to host meetups there and there was a lot of shitcoining going on. In fact, everybody just wanted to talk about making their own shitcoin and making their own

exchange, basically. Very rough. Hard to get any kind of quality discussion in. Now, when I go to a local meetup, there's a lot more Bitcoiners. They all claim to be maxis, but they're all obsessed with ETFs. They are obsessed with Liquid and promoting shit coins like Liquid. And I think a lot of that is Bull Bitcoin's fault. Fuck you, Bull Bitcoin. I don't care if you sponsor the show. Like Francis, you're fucking up. Quit enabling shit coins or stop calling yourself

a Bitcoin-only platform. That's all there is to it. Don't lie to me. And they're just simps for very bad wallets as well. Like when I went to my local meetup for forever, they just wouldn't stop recommending Moon and Wallet of Satoshi. Custodial wallets that like in Moon's case, like there's not even, there's an on-chain transaction for every Lightning transaction. What is the point um so and these are people that have been involved for over a decade much like myself

so i struggle with how many very confident uh seasoned veteran bitcoiners there are giving half-assed advice and promoting custodial and shit coiny products. And I'd like to see that change. It's a lot of pumping of bags. The reality that people they want to have their bags pumped as much as possible and they don't think greed drives adoption it definitely does but i feel like as good public citizens and bitcoiners it is in our interest that people become sovereign known node running individuals that is how that's where we get our decentralization from is from having these people that are defending themselves and thinking for themselves uh and controlling their own coins and transaction information that to me is the ball

game that's the only kind of adoption that matters if you're using coinbase or an etf and you're not cussing your coins you don't run node like i'm sorry but you are not a bitcoiner by no definition do you interact with bitcoin so So please, I urge you, get it off of those custodial platforms. Secure your keys. It's not as hard as maybe you think it is. And there are so many resources to help. I will spend all day helping you if that's what it takes. I will hold your hand and I will walk you through it. You can find me at bitcointech.help as well as many many other helpful people it is not hard to store your own coins this saturday i'm meeting up with a bunch of folks and

i'm showing them the process on how to use a cold card and it's free of charge i go over it we go through it all and at the end of the day they're more knowledgeable and, they take that knowledge and build on it. But really, this information, it's so easy to find. And people like myself and you will be more than happy to provide that information and teach people the way. It's really in our interest that these people learn how to verify. And it's not about trusting us or trusting anything you you find anywhere. There are a million people that are just like us are telling you, hey, listen to us. But what we're also telling you is when you hear something that we say, we're going to show you how to verify that in code using primary sources. And that really is the difference maker. That's what people need to be doing. And that sounds intimidating. You're

saying to yourself, I don't read code. I don't know what that is. It's almost all in English. If you can read English, you can tell what your code is doing. Well, let's talk about some people that may have trouble with the English language. Some migrants in the city of New York. And, well, I'm not sure how sovereign they are right now. But they're trying to make them more sovereign individuals. So the reality, the gist of this story is that the city of New York, they announced that they're no longer going to be issuing any vouchers to migrants that are settling in New York.

And these vouchers were to pay for food. So this program has ended, and the program was angering a lot of folks. The mayor of New York was saying, as we move towards a more competitive contracting for asylum seeking programs, we have chosen not to renew the emergency contract for this pilot program once the year concludes. So it was debit cards that were given out to these migrant families, and they were staying in city funded hotels. And thus they were allowed to buy the food with the debit cards. far to date 3.2 million dollars has been doled out to 2600 migrant families that are living in those hotels and for example if you want to look at this further a family of four was given about 350 dollars u.s per week to go shopping for food and baby supplies which which, you know, is a decent amount. And they say that, obviously,

this thing is coming to an end. Keep in mind that the city of New York has around 350,000 homeless people already. So they have problems coming out of their ears. But spending money like this, I think is probably the not a great way to control the problem that you have. I think it's creating a bigger problem. You're almost incentivizing people to go there for migrants to settle in New York, but also not dealing with a lot of the existing problems that are there. So the money is just being directed to a different problem that's growing. Like, I don't know. I see shit like this

but it makes me even more bullish to be a bitcoin i'm not sure if you know the same things happen in canada right like for example um in niagara falls right now pretty much every hotel there is in perpetuity rented out by the canadian government to house asylum seekers and the big problem that we have right now is that our asylum approval process is four years backlogged, according to the people in charge of it. So that means we're paying for years and years and years of resources for people that may or may not end up being here for legitimate purposes. It's a big problem that we need to like, because we do need to have an asylum system. We need to be able to house refugees,

but we also need to very quickly be able to determine between a valid claim and an invalid claim. Knowing that the backlog is what it is, many people are buying themselves time to avoid deportation by hopping, for example, the US border and making an asylum claim. Will they be approved? Almost certainly not because we don't take asylum complaints from Americans, people that have another safe country, but it doesn't matter. They'll still end up here for four years and we'll pay the bill. So for people who are not aware of

this, if you're coming from in between like a safe country so you say for example you come from a country that's war-torn i don't want to name anyone just it and then you go to united states first then come to canada and make a claim for refugee in canada they would say that you should have made a claim in the united states you had every opportunity to do so so your claim to canada is going to be ultimately rejected so that's Yes, the only exception is for those that are coming here directly through the UN Human Rights Asylum and Refugee Program, where they may bounce between some other countries on their way here. Now, in China, they're the second largest economy in the world. It's growing leaps and bounds.

It has slowed down significantly. But one thing that is kind of flying under the radar is just this week, they announced a $1.4 trillion bailout package. This is because local governments, there's a debt crisis over there, and they need to stimulate the economy. So they're hoping that this financial injection will help the provincial authorities to refinance existing loans, and to provide it services and continue to provide services like paying for

public sector salaries. China is a fucking mess. I don't think a lot of people truly understand that this thing is a house of cards ready to collapse. I was saying that Japan is the canary in a coal mine. Maybe China might be it and i i'm not sure if you have any insight into this but i i'm wondering this is going to have broad implications if something happens there because they as i mentioned second largest economy in the world and they provide a shitload of fucking goods to us and united states and if there's any disruption in that cheap goods it's going to make life difficult for a lot of folks out there that are living here there's definitely going to be a disruption of those cheap goods for americans at least when those tariffs go up for one uh for two

uh i think that the most remarkable thing that we've been witnessing over the last 20 years is exactly how adept our economists have become at kicking this disaster down the road in china in canada in america uh modern monetary theory and financial policy has it's it's phenomenal the economy didn't burst during covid it's phenomenal it's phenomenal that china survived their evergrande scandal or whatever the hell it was with their real estate market um these are things that should pop the market but because they are doing such a good job you could argue from their perspective uh they're doing such a good job of preventing big companies from going under preventing government services from going under uh by printing money and forcing that inflation and all the consequences on us

in the longer term they have maintained this machine in a way that i'm personally impressed by like it is phenomenal that they have managed to to create the situation with that's only as bad as it is like this this thing could seemingly on forever with them, continuing to kick the kind down the road until they debase the money so badly that they just make a new one. I'm sure they'll call it the real. And we won't debase the fuck out of that one. You can trust us.

We understand what's going on. Just in perpetuity, in a cycle, they have this down, and they're really good at it now another one that's got a good in terms of figuring things out is in ontario now ontario's debt i don't know where you live i don't care where you live but i'm gonna say for people that want to know in case you want to know ontario's debt is 430 billion dollars which is a fucking decent amount considering it's a

single province in ontario and i'm not sure if you're aware but our premier doug ford is planning to give out 200 rebate checks in the coming weeks coming months sorry to every resident i am aware that doug thinks that he's ralph klein yes and there was an interesting article that was penned in response to this $200 taxpayer rebate. And they're saying that if you don't want Doug Ford's $200 tax rebate, here's how you could send it back to the province to help pay down for the debt instead. Who the fuck is going to not keep the money and send it back to the province so they could pay off the debt? $430 billion is the debt. That's a lot of $200 checks.

$200 checks won't even make a fucking dent if you send every one of them back to the province to pay off the debt. Listen, folks, get the checks, cash it. In my opinion, do what you want. Buy Bitcoin. Exactly. Exactly. Buy some corn.

Take it off the exchange if you're using custodial exchange. If not, use a proper one like Bitcoin and sleep well at night. Because you know, in a few years, at least my opinion, I could be wrong, that $200 you put in will be worth significantly more in the future in Bitcoin. But that's why I would we rather that the Ford government simply take 200 today's day and age with inflation being what is 200 canadian isn't as much as it used to be it's not buying you a lot um i i compared doug to ralph klein who was a premier in the west uh in the in the 2000s And he also did a similar kind of rebate. It was for, I think, $500, or maybe it was $300 a kid. But that was back when that money was worth three times what it is today.

So you're getting a very small amount of money in this $200. I would so much rather, as just a little socialist gnome myself, I would so much rather, as just a little socialist gnome myself, I would so much rather that we all pool that money together and do something about the crumbling healthcare system in this province. I would so much rather we put all that money together and do something about the growing homelessness issues in this province. That to me would be a better use of the $200. But that's kind of not how we govern. We don't add new taxes or take money. We just reduce public services and keep the same amount of money. I don't know what's the size of your family, but here when we go to Costco to do grocery shopping, which we do every so often, just for an example, now it's hundreds of dollars is the bill, hundreds and hundreds.

And in the past, four or five years ago, it could have been $200, maybe $300, and we'll be able to get a full cart now. And it's just incredibly high. So that $200 that Ford is going to give everybody is, like you mentioned, it's not very much. What does it afford you? Three tanks of gas? You like that Bitcoin meme with the shopping cart and it's got every four years labeled and every four years the amount that you get in the shopping cart from dollars is less and less and the amount you get in Bitcoin is more and more and more.

I love that because you're right. Like I go to Costco too and it is expensive. Yeah. It is expensive to fill your cart these days. And I know that all the Canadians are really feeling that, which is why it's so insulting to hear our government tell us that inflation is under control. It's like, yeah, when you handpick the things that you're going to wait

for the number that you want to create, I'm sure it does look like it's under control. But over here, when wages aren't improving and costs are going up sometimes 10% to 20% for various items in a given year, it certainly does not feel like inflation is under control. So the narrative is that inflation has been tackled. Like the last month, it was reported at 1.6%. Now, that's just the rate of change the the price per good has gone up significantly compared to something say

three four or five years ago so that price will probably never come down in fact will continually go up but the narrative is that the wage increase is keeping up with inflation now and i think truth that's all i mean we know that it's a lie because we can see what the purchasing power of something was for example 1970 in canada we can see that you know a single uh a single employment home where one person's a bus driver could afford a house like you the only reason the numbers are this way is because they specifically exclude things like real estate um so like they they weight things in such a way as to create the numbers they want and they want specific numbers because in many ways government

debt and what they they owe to public unions for example hinges on the inflation rate because that's what they negotiate things around so what the the money the government owes is determined in part by the number that they publish so they manipulate the absolute ever living hell out of it yeah like cpp canada pension plan old age security stuff like that i believe is tied to official inflation numbers so if those numbers are lower then their yearly commitments to those line items will be lower as well so there is i don't know if there's a strong financial incentive for them yeah also there's political incentive like do you want to be the leader of the country that brought inflation down or do you want to be the leader of the country where inflation went rampant

have you seen i'm not sure if you're following politics but in canada the bloc quebecois is trying to push for the government and they have pushed and failed to increase old age security payments between us and so if you were to take a guess how much would you guess that our spending on old age security payments has increased in the last 10 years. Combined, 13 percent. Yeah, that's about what it is now. So like it's it went from about five percent to 10 percent. So the amount of the total Canadian budget that we spend on on these kind of

securities has basically doubled as people are living longer and. We haven't added any new dedicated taxes or anything. And that's created a situation where younger people collectively have to pay a larger tax burden for now more older people that are in the population. Like there's more old people around today than there was in the 70s, for example. Yeah. Christopher Penn- Joey, I don't mean to cut you off. I'm just gonna give you one quick statistic. Joey often mentioned this that he said he used to be seven workers used to pay for

every one pensioner. Now the statistic is 3.5 workers for every one pensioner. So Joe Carlasare, That is absolutely a correct stat. I verified that today. Okay. Joey's often cited that. So it's just verifying exactly what you're saying in terms of it's a bigger burden for the workers.

And that is why there is immigration in Canada. Now, understandably, it was quite high for the past few years. But historically, that is why Canada has had immigrants come into canada to help sustain the economy so that there is a large number of people that are working that could pay for a growing number of seniors and this baby boomer generation it's getting well maybe not maybe it's getting smaller these days but it's still relatively large by

comparison to say gen x which is me or gen or millennials which is after i don't know where the fuck it is yeah it goes x millennials zoomers alphas alphas i don't even know where that starts but that's probably now so i mean i guess it just started like the last couple of years well the zoomers are in their 20s now, Len. You're an old man. We're old people. We have multiple generations under us now. I'm ready to retire. I'm not sure if you're aware.

I am retired. I made more in this week than I usually make in a year, so I'm good. But you're still actively doing something. You're just not sure what's going on. You never stop. To me, what retirement means is you're just, you never stop. Or to me, what retirement means is you're no longer a wage slave.

You get to, you get to own your time. Yeah. Now I'm going to throw you a scary stat here that one in four parents in Canada say they cut back their own food consumption to feed their kids. And this is a salvation army report. And they say of the parents, they have surveyed 24% say they have reduced consumptions. to feed their kids. And this is a Salvation Army report. And they say of the parents they have surveyed, 24% say they have reduced consumptions

just to ensure their kids are well fed over the past year. And they say of those parents, 90% said they reduced their grocery bills to put money towards other financial obligations. Like, for example, getting cheaper food that's less nutritious, skipping meals entirely. Eighty four percent said they're skipping meals entirely.

This is like trending totally in the wrong direction. And on top of that, you have Food Bank Canada saying that they have reported two million visits in just March of this year alone. I was going to say they're like five times what they were three years ago and that number is gonna go that was from march i don't think the economy has improved substantially since march if anything it's probably worse so that two million is probably 2.1 yeah my local food bank is pretty much on me every every month to donate more and crying about how disastrous the situation is and they're not wrong. It is disastrous. I have friends using the food bank. Holy shit.

It's terrifying the level of poverty we are creating and how widespread it is in Canada. If you look at the Bank of Canada statistics for average earnings, like if you're earning $110,000 a year, you are the top 10% of people in Canada. If you're earning over $50,000, you're doing better than 50% of people. And $50,000 Canadian is not a lot right now.

I think the 30th percentile is, I don't even remember, I think $40K, maybe even lower, high 30s. How could you buy with that? Where's the poverty line? There is no middle class anymore. There's people that are wealthy enough to survive and they are an incredible minority. And then there's everybody else and everybody else is struggling.

You know, the middle class is being uplifted. The rest of the middle class is the homes that they purchased because that is the biggest asset under their belt and the fact that they have one i assume they bought one years ago before the price really went up they're able to live in that home for a relative pittance compared to somebody else that's paying for rent i was reading statistics from stats can the other day i don't recall them uh off memory but it was something to the effect of uh homeowners of the same age uh and demographic are five times wealthier than their cohorts without yeah i'm pretty sure it's something like five times they just have a five times larger net worth

um it's it's terrifying that yeah we had a middle class and yeah they've been doing really well because of home price is appreciating but because now people can't get a home we are killing that middle class the middle class that did exist is moving up to an upper class and there is no new middle class because they cannot buy a house. And that's, what's pushing politics. If you look at what's going on in Canadian politics, you have the conservative party, which is right of center.

I would say almost straddling kind of where the liberals used to be kind of right at center under the Paul Mertens days. And you have the liberal party and the ndp party vying for a more left or side of the political at least the canadian political side i wish i feel like everybody is a little centrist right now um except for like the ppp and um paul ovier as well like i don't feel like his conservatives are particularly centrist um i think that they're trying to tap into that same kind of populism that just led to trump being elected or has led to daniel smith in alberta or um what's his face in

newfoundland nova scotia wherever the hell it is i don't even know his name i know what you're talking about they just had an election not too long ago. Yeah. And I feel like we're riding that here too. And like in America, culture is an export. And just like the last time that Donald Trump won and we saw Brexit and everything that followed, I think that there's going to be a wave of that in Canada and everywhere else too.

So look at this. 0x15 AAC love isaac leaving my home country to own a home outright was the difference between wage slave for a 30 year deposit and a semi-retired before 30 so yeah and boom dust is saying 50k years hard to live on if you have kids you're poor if you make less than 75k kids is a big part of it too like there's a reason we have to have so much immigration and part of that is because we don't have kids uh and who can blame anybody for not having kids it's can't you can't afford them and that's why we bring in immigrants is to help ensure that there is the next generation of people that could pay for the older people yeah we're just taxpayers we need it we need a tax pyramid pyramid with a wide base yeah and if

we could bring in a family that has young kids even better because now you have not just the man and wife or whatever the dynamic may be uh most likely working and providing then you have the next generation that once they graduate from school they have a lifetime worth of earning powers they could tax so like those are native canadians like that is how we grow canada in part is definitely with those people i think that where we get into a little bit of trouble is for example with the temporary foreign workers program um i don't know if you've checked out any of those Lima maps where they show employers that have requested temporary foreign workers, when, how many, whether they're approved or not. But it is disturbing how many employees are being brought into places with very high unemployment rates. we have created a situation where our corporations especially our retail sector our tim hortons and whatnot have become addicted to cheap foreign labor and they have tried to

convince us that if we don't allow them to continue exploiting people exploiting people in a way that i should quote the united states human Rights Commission has suggested borders on slavery in some instances. If we don't allow, continue to allow that exploitation, our prices will explode and their businesses will collapse because Canadians just don't want to do the work. And I gotta be honest, I have no time for that argument at all. Canadians were doing work just a couple of years ago. Before COVID happened happened we didn't have this flood of temporary foreign workers um so i i would very much like to see that program regress to actual need-based things instead of just a rubber stamp to bring people in under false

pretenses and i don't i don't blame the folks that are coming in for for coming in either like they're just looking for a job. But have you seen some of the advertisements on these foreign websites? They are so dishonest and disgusting. I've heard. That's right. They're explicitly like, hey, job in Toronto,

working as a chef, desperately need you, come on down. I'm like, there is no job there is no anything they're just looking for gullible rubes who are desperate enough to do whatever they say to get to canada and then fill some employer quota so that this recruiter gets a kickback i've heard that they even have some people that come here that earn less than the minimum wage. That there are some

cases where cash is being... They're working for cash, and they're not even earning minimum wage salary. Yes. I've heard of cases. There have been a few, I'm hoping, very rare and niche cases where people have had to pay their own salaries

to stay here under the promise that they would then you know have a path to citizenship or other jobs or whatever and that's another big part of this like the reason it gets compared to slavery by the un is because you can't switch jobs you're you're yeah trapped at that employer and they can do whatever they want with you they can treat you however they want because you cannot leave. It's called a closed work permit where it's only tied to one. There's an open work permit that you can apply to other people.

And I was reading this one story from in Oakville, Turtle Jacks, that the owner over there, and he's just allegedly a piece of shit because of the way he was doing and abusing the labor market assessment or opinion, whatever the fuck it's called, to bring in foreign workers. And yeah, like you were saying that some people had to pay or it was just pathetic how he was manipulating the system, allegedly, to bring people here and just string them along. Like the potential, they thought there was a job here to come here.

There's nothing. And it fucking sucks for a lot of folks. The system needs to revamp it. I think they're in the process of revamping it. But, yeah. Fuck that guy, allegedly. No, man. It's some family restaurant in Northeast Local.

Is Turtle Jack's a strip club? That's a gay strip club for a very specific crowd, I think well that ended it Mr. Arnum I appreciate you taking the time to come on this week this has been awesome and yeah without you

obviously I'd be rambling here by myself and it would be not very appealing to listen to or even less appealing to watch so thanks for taking the time to come on I'm very glad to be here all my best to Joey and his family. I hope that they have a lot of good luck in the coming days. I hope so too.

With that, we'll be back at this at Wednesday. Gandalf will be here. It's going to be a prerecorded interview, so it will be released on Wednesday evening. With that, take care. Good night.