The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #195 (Notable News Stories) - An Egg Nog Sippin Bitcoin Dippin' Christmas Episode (Bitcoin Podcast)

Episode Date: December 25, 2024

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uh thank you ladies and gentlemen i'm linda legend i'll be doing this one solo until joey's back i'll be talking about the rest of the news and number one our favorite mayor eric adams and joey has been very fond of him over the past few years well it looks like he might be getting a pardon in a not too distant future if things go according to plan this boomer saying professional pot absolutely as you can see we're just doing this shit on the fly flying by the seat of our pants In a not-too-distant future, if things go according to plan, this boomer is saying professional pot. Absolutely. As you can see, we're just doing this shit on the fly, flying by the seat of our pants. And Joey's not doing that for obvious reasons. Well, Mayor Adams, he is dealing with federal corruption charges. He pleaded not guilty to five separate charges, including conspiracy to commit wire fraud, solicitation of a contribution by a foreign national and bribery.

And he's accused of accepting travel benefits and illegal campaign contributions. And their trial that is going to take place is scheduled for April 21st, 2025. And all this is causing some problems with Mayor Adams for his re-election bid because from what I gather, he's not going to be able to get access to funding moving forward, or at least all the funding that's available to all the candidates.

And this is going to severely cripple his ability to raise and use funds for his campaign. Trump has been pretty vocal with the DOJ. He's been critical with the DOJ. And he said, looks like, hinting that he may potentially pardon the mayor because the DOJ, he feels, has been unfairly treating Mayor Adams. And SBF, according to Boomdust, might be the next person that gets pardoned. I don't know why SBF would be pardoned.

I thought he was more cozy towards the Democrats and not the Republicans. Did he make a lot of donations to the Republicans as well? Actually, sorry, he did. He made them to both parties. Whatever, SBF, he's going to probably rot for the next little while in prison, according to the law, he should.

But let's see if he gets pardoned or at least uh has his sentence commuted as well the same as ross so it's very interesting to see what's going to happen with eric adams i know he was a bitcoin guy and he kind of still does talk about bitcoin periodically um let's be honest he's really not that cozy with bitcoin he hasn't made new york a bitcoin city he's dealing with a lot of migrants and he's trying to export them and try to um deal with that issue so to speak but whatever it's too bad for him uh on an individual level but i i know joey has been pretty critical of him so he might be happy to hear that he might be on his way out as the mayor of new york the federal reserve has

made an announcement this past week they dropped the interest rates by another 25 basis points. And when that happened, a lot of markets weren't pleased, including Bitcoin. The price of Bitcoin dropped pretty rapidly, a few thousand dollars, if I recall correctly, a couple of thousand, whatever it was. It was enough that it was noticeable on the chart. And not just that, also the Canadian dollar, too, took a hit. A few different currencies, the Australian dollar took a hit as well. It looks like markets were anticipating a higher rate cut

than 25 basis points in the one we got. And this, I suspect, is just a prelude to what's going to come for 2025. Big cuts are going to be coming because we have the Trump administration that's going to be sworn in and he's going to want to drive this thing as close to zero, or if not zero or below,

to try to overheat the economy. So that's going to be his MO. So the fact that the Federal Reserve has been reducing the rates 25 basis points, it's kind of like kicking the can down the road, so to speak. But a lot of people are looking at the Canadian dollar and saying, look how it's been doing compared to the U.S. It's doing pretty bad. It was hit the 69 cents-ish area.

And this is all an environment where the Canadian central bank has been reducing rates 50 basis points at a time. And the Federal Reserve is 25. So what happens when the Fed starts doing it their 50s and the Canadian Bank ofada kind of stops or does 25 basis points well it's easy to see that the canadian dollar is going to rebound comparatively to the usd and it's going to be above 70 cents as long as everything plays out with the tariffs let's see if that blow well blows over that's a big thing but either way the fed came out and they were talking about their ability to own bitcoin they said they're not allowed to own Bitcoin. It's pretty funny that they acknowledged the fact that they cannot do it.

So Jerome Powell was saying the Federal Reserve Act says what we can own and we're not looking for a law change. That's the kind of thing for Congress to consider. But we're not looking for a law change at the Fed. I took a look at what they're able to own. And some of the things they could, this is according to Google. When I do a Google search, there was the AI at the Fed. I took a look at what they're able to own. And some of the things they could this is according to Google, when I do a Google search, there was the AI at the very top. So I'm not sure if this is correct or not. But this is what my Google search came up with. It says the things that you're able to own our securities, they could purchase and own treasuries, mortgage

backed securities, and other securities through open market operations. Also, it mentions they could deal in gold coin and bullion. So it makes, they can make loans on gold and exchange Federal Reserve notes for gold. So they can hold gold, but not Bitcoin. It seems pretty funny because Bitcoin is comparative to gold on a digital sense. So why couldn't they own Bitcoin

and put it on their balance sheet the same way they could own gold? Either way, it looks like there's going to have to be some modernizations to the bitcoin to have what they could do moving forward with bitcoin and ordering it and boom does saying they could own a bitcoin etf yeah you're probably right and will they do it though i don't know look at that's a fast look you seem to be very calm i drank a lot of water today and uh you know it's more than i usually drink i think that's uh contributed to the uh speed at which uh the page is clearing here yeah so i just want to tie a bow on this one here is that it seems like they're setting things up for trump for better for

worse for to have as high rates as possible so let's see how things play out i was talking with the bank sorry the uh federal reserve cutting oh the new hawkish fed yeah what a surprise eh they they literally they pulled it bullshit they pull the pin on the grenade suddenly everything is looking bad we got to take care of inflation you got to make sure everything is good oh by the way we're not going to cut rates anymore the the forecast like when i when i see stuff like this i look at the forecast and i'm like okay these guys had the scp the dot plot saying what six cuts a few meetings ago 2025 five cuts i forget what it was whatever it was it was supposed to be a rapid one yeah and now and now it's 50 50 yeah and now it's two now it's two and so like you know you can say what you want about the fed

not being political but i think if anyone watched that uh press conference i think it was last month where one of the reporters asked powell if he thought trump could fire him and he's like no and another reporter asked if he considered just leaving on his own given that he served out you know a number of years he's like no and now the next meeting they're done cutting now the trump won you make it this what you will but uh this is reacting all yeah acting they're not moving things but they're reacting to bunk data like the like the fulcrum is the cpi data and the cpi data is bunk it's not like it's nonsense and so like what are they when paul gets on the mic every month and is like we're data driven no you're not no you're not the one

thing they're going to be doing though is they will continually cut there's no way they're going to stop cutting and there's no way they're going to stop us to continue doing 25 it's going to be a bunch of 50s especially when trump comes in you think 75s oh yes he's going to want to drive this thing as close to zero as possible. He is not the guy who's going to do it, though. Powell sounds like he is opposed to that, not only opposed to that policy stance, but opposed to the idea that Trump should have any influence.

Well, we all know exactly how things play out. And the Federal Reserve, we could debate how much of an independent body it really is. There's going to be a lot of pressure from the White house yeah there's you know potential ups and downs there i don't disagree with you i just think that there's there is going to be some friction between those two men uh and powell is emboldened by he's probably emboldened by uh his you know the length of his tenure now but i think he's also emboldened by the length of his tenure now, but I think he's also emboldened by his view. I think this is his view anyway, that he's done such a bang-up job and he wants to see it through. And he's going to be even more revered, not only for getting inflation under control, not only for avoiding the recession, but also for standing up to maybe the world's most pushy politician.

Is it possible that he views it this way? I don't know. He's the only person that could stop this yeah right good fucking luck because i want somebody else that's good fucking luck and it's probably going to be drag meet sing and he then epiphany came to him that he just realized you know what it's about you know i have to state this i was I was wrong. Unless they delay until the end of 25. Right. I thought for sure they would not do this because of the financial situation that the NDP party is in. And they are, last I heard, they're in dire straits. They don't have the ability to fund a general campaign.

But the people have spoken and Mr. Singh decided, you know what, I'm going to listen to them and take down the government the first opportunity. The next opportunity is going to be January. Hey, wait a minute, you forgot the asterisk. First opportunity asterisk. And then the asterisk at the bottom of the page is first opportunity once I've secured've secured my pension don't forget about that part don't forget about the dozens of mps that will get their pension thanks to this guy deciding to wait until government was done for the year no no no no no no they'd have to wait till the end of next end of 2012 there's a there's a list of m and it's october because he came in in a by-election and so his tenure is six years started almost six

years ago you have to look at the people that were elected previously in the previous election and it's it's not going to be um after February I think it has to go to uh October all the way in fact so they needed to have it extend extended another 10 days or so remember they were talking about extending this i remember i remember that and that and some people looked at and said if that was extended then it would allow a bunch of other mps to get their pension because they were just outside that i remember that but i think there's i think there's still a number of people he is one he is one of them he is one of them that's this extra month gets him to the date that he gets his pension whoever was in a by-election around that time too is going to give it but he's the only one that i could think of that's prominent right so either way that was

a narrative is that he was waiting for this to get his now his pension let's look at this from a few different avenues number one if he indeed waits until january 27th to bring down the government that's when he's gonna that's gonna be the first time they're gonna have an opportunity to bring down the government when is going to be the first opportunity for opposition to propose a uh proposed like uh non-confidence vote. The Liberals, I don't know the procedure here, but don't they have to give them opposition day in order to...

Or the Governor General has something to do with it? No. This is the Liberal Party. They have to allocate so many opposition days. I could be wrong on this, but there's so many opposition days they have to... And they could reschedule the calendar how they wish. And they could push this to the end or closer to the end. That to and they could reschedule the calendar how they wish and they could push this to the end or closer to the end

that way that they could delay any non-confidence vote for some time proroguing parliament is probably going to happen looks like yeah and that's going to throw a wrench in everything and then it seems like there's there's a

I won't say a mutiny, but a lot of unhappy MPs that are liberals with Justin Trudeau. Today, I forget his first name, but Housefather, I think is his last name. He's an Ontario MP. He said that there was an Ontario caucus meeting. 50 Ontario liberal MPs want Trudeau to resign. That's a large contingent of the liberal so things are not looking good for trudeau he's gonna probably prorogue and step down and somebody else is

obviously coming for him but jagmeet saying going for his pension i don't know we'll see if if indeed even if the government falls like end of january does he still get his pension given the fact that an election takes like yeah 30 days yeah so he's guaranteed to get his pension the way things are going poliev wrote a letter to the governor general asking for a parliament to convene earlier yeah but i think he right yeah so but i think he milled it by canada post so may not get it until march or april so just looking at the tea this year like it's and then there's this talk of proroguing until the end of october that sounds insane there's this talk of proroguing until the end of october that sounds insane there's no way never happening yeah never i don't know i'll bet my

bitcoin stock and that shit i won't say it for sure that's that i said there's no way there's the thing that's most like annoying to me is these like you know squirrelly sackless mps on the liberal side who wouldn't say anything about the disaster their party has become until they were sure that they weren't going to get one of these shuffled cabinet seats last week. And then as soon as the cabinet shuffle came out, all the people who didn't get picked, you know, didn't get tapped on the head, suddenly had a big problem with the way the party was being led and the country was being governed and said that Mr. Trudeau should step down. That doesn't take much in terms of testicular fortitude,

especially this bit about maybe Papa Justin will pick me to run a cabinet position. You're just so spineless. And I hate to say that about elected officials because people really chose them as the best option to lead and act in their best interest. They've done anything but, especially in the last month or two. And it's been so sad to watch. And I'll add one more thing here. These are my words, not Len's.

The country is being embarrassed on an international stage at this point by this whole saga. Freeland resigning. Freeland, you know, in Canada, you kind of sometimes miss the role that Freeland has. Freeland's the finance minister, but she's really the second in command. You know, like if the vice president resigned suddenly because of,

because they were at odds with, you know, the prime minister or the president, I should say, like that'd be an international story. It'd be a huge scandal and it is here too. We don't think it's seriously enough. It's become entertainment too much for us and you know as much as i think politics broadly is a waste of time and attracts low quality people at the end of the day these low quality people are sending a you know billions of your dollars um to other places spending billions of your dollars on nonsense causes billions of your dollars on fake green data

uh through the slush fund you know like it's just it's just like just another day in paradise at this point with with the government and you know whether i think polyev can make it better i personally don't um it's just it's time for a change like like reasonable people look at this and are like this is this is not it's not tolerable behavior it's not tolerable governance has nothing to do with uh you know the party stripe it has everything to do with the behavior yeah change is is going to happen if you believe the polls and i tend to believe the polls and also not just that word on the street you talk to people you get the vibe of how people are thinking they're going to be voting and i don't see many people that i'm gonna i want to say something here too like the the other thing trudeau said something the other day that really upset me and it's funny mark is in our

signal chat he just reminded me about it this idea that canadians are less canadian than immigrants to canada because canadians who were born here were just canadian by default and people who came here chose to come here and start a new life. That should upset you. That should really give you, like, that should ignite a fire in your belly in a way that not many other comments can. It's just, it's such a ridiculous thing to say. And it's, you know, something that only gets said

when you've really lost the plot, I think. And that's where that party is now and it's where a lot of left-leaning parties are around the world he's not the only left-leaning leader that's you know about to get steamrolled or was steamrolled recently or is losing in the polls or is in jeopardy of you know not finding another job after which i think is another contributing factor here there is no book deal there is no you know international spotlight waiting for him the same way that i'm waiting for freeland yeah i don't think so i i don't i think there's a lot waiting for him what what do you what are you thinking what what level of work do you think is waiting for him what level of role what level of

celebrity maybe more specifically is waiting okay celebrity is different i'm just thinking of well terms of like, you know, look at the things other people have done. Like if you look at Al Gore, Bill Clinton, these guys who are, you know, like, you know, popular statesmen, they ended up doing a lot more stuff. You could argue Bill Clinton is more popular now than he was when he was the president, which is hard to do. There's no way, there's no way that Trudeau is ever going to, ever going to achieve that, ever. There's no chance i i'm out

of the camp that if okay i'm just gonna play out what i think is gonna happen and i could be wrong so prorogue he leaves new leader comes in and he's no longer trudeau's no longer prime minister and he's gonna leave politics altogether if he does that he's young enough he's 52 that he could potentially come back in a decade even 15 years and enough water party again why not i'm not saying this is because time potentially you look at bill clinton you're like look he's now more popular now than he was in the 90s time tends to heal a lot of wounds jack layton same thing i know he passed away but um bob ray was almost geared to be the leader of the liberal party and you know 20 years earlier 15 years earlier things were very different he was just um run out of i cannot i cannot believe this so

this is it's definitely possible he is charismatic enough he's charismatic period he is able to galvanize certain things there's a tradition here almost like and i don't want to say destined to be but like he he'll use this in a way like his father him they're separated in terms of like uh continuating uh continuing their term trudeau uh pierau, I think, had a break. He was sent in opposition briefly before getting to be prime minister again. So this could be the same thing with Justin. He could leave, come back, and become prime minister

again in 10, 15 years. He's young enough. He has a lot of connections. And who knows how things will change in the future. He's nuclear. Remember what we have now? Carbon tax and stuff like that. 15 years ago, Stefan Dion was laughed at, was voted.

We've talked about this. And now we have it. It's a real thing. So the idea is that Trudeau has been proposing. I'm not'm not saying you know i'm not trying to give any merit to anything i'm just trying to say time like you're getting you're getting cooked in the comments too like i i honestly think there's no way this happens like it's there's like less than zero percent chance uh you know maybe i i just think that there's enough time has passed or could pass how starved for leadership would the party have to be to go back to trudeau what do they have right now i mean almost anything is

better than what they're going through right now correct and you're going to have a couple of terms in opposition maybe more who knows and then what happens then who's there ever been a repeat pm pierre elliott trudeau he repeated he left the party came back and became pm he retired and then won the next election now granted he was still sitting as a the prime minister but there is some history here that could be repeated i don't know about this and i look at this it's like hmm you know like i say he and i said this before on the campaign trail justin trudeau that's his bread and butter he's he seems to be a an animal when it comes to that but like he doesn't have but like he was an animal on the campaign trail when these causes were in vogue and now like saying people

kind will get you nuked you know asking for carbon taxes and saying that climate change is more important than putting food on the table will get you nuked like these are his causes they're not just causes that he adopted from the party he championed them sure you're telling me he's gonna go he's gonna get away from these causes or the country's gonna go back to these causes in 10 years? It just seems so unlikely. I don't know how his ideas will change more and how people's

ideas in general will change more. But I have a feeling that he's not done in politics. Just given his age, his pedigree, and everything that I can see that's going to play out, there's a chance. It's not like you're everything that I can see that's going to play out, there's a chance. It's not like you're going to have the liberals that are going to continue in power

for another decade and then go to opposition because things go back and forth in Canada. We're going to have the other way where it's going to be the next 10 years. Oh, I went to my screensaver came on. It's going to be next almost 10 years, progressive conservatives. And then after that, historically, it's going to be liberals again.

So who's going to be the leader at that time? I don't know. Not him. You know, I don't know. He's young enough. And I just never say never. That's all I can say.

The more, the more likely. I'm not saying this. There's a dozen more likely outcomes, including like Frazier going out east and being a you know premier and then coming back to federal politics he's a great candidate for and i thought that he would have been an excellent person to take this on because i think that he's a good orator he is for sure he's good speaker yeah yeah he thinks on his feet like there's a lot to him

but you know what i gotta give him credit i mean not only is he the writing in a role the wall he he said he wants to go spend more time with his family and i gotta give that's that's noble his family told him gtfo bud you get it we gotta go we gotta go he's you know what he just probably figured it was it's time let's let's let's put a pin in this because it's not you know we're not going to get anywhere here but uh well it's great discussion it is exactly i don't want to totally dismiss the fact that he's done from politics just don't be surprised if he comes back sure it's definitely possible anything is the chats with me that is

fine i like i say all roads lead to land but I'm not saying this is a slam dunk. I'm just saying just be ready. This is a potential outcome, a potential future. Okay. And another potential future is Quebec. They're going to be banning the sales of internal combustion engine cars starting 2035. I love it. This doesn't apply for shit like mopeds, motorcycles, and emergency vehicles.

Those are exempt. So for whatever reason, emergency vehicles, they're not going to be subjected to the same garbage because they actually have to work. Yeah, that's why it's going to be for light duty vehicles, which the province describes as cars,

light trucks, pickup trucks, and most SUVs. Imagine pickup trucks and light. That's going to be anyways, this is all going to be starting. They're thinking very long-term here. December 31st,

2035 is when this comes into effect. And at that particular moment, it's going to be illegal to sell or lease a new gas powered vehicle. And yeah, so I took a look to see how much electricity is generated by the province of Quebec. And for the most part, they export electricity. So they are, they are a producer. But there are times, peak times where they have to import from

their neighbors. So it happens. And that's what the current environment which how many cars are being plugged in? probably not as many as was going to happen next yeah minuscule on that yeah took a look in 2023 quebec registered over 400 000 new vehicles for the year and if we continue at the same pace you know 400 000 per year let's imagine inflation doesn't impact new cars and it doesn't go parabolic in number of sales. So 400,000 cars and we could do an estimate of 20 kilowatt hours for the

average commute. Do the math and that's 0.3 gigawatt hours per hour, 24 hours a day that's going to be added to the grid every year as a result and right now they're exporting power but still at times importing it it's unless they continually build out energy production it's going to be tough times ahead energy costs very cheap in

quebec right now len it's just cold in quebec like you can't have battery-powered cars in quebec right now len it's just cold in quebec like you can't have battery-powered cars in quebec seven months of the year especially as you get up like north of quebec city north of montreal like what is the plan some of those places are covered in snow when i was taking my french lessons the instructor was in uh where where was she she was in a little place like trois rivières maybe and and like you know i would be talking to her two in the afternoon uh in like you know february or january and it would be dark behind her the window was black the kids the you know her kid would come home from school and like it's dark outside three o'clock two two o'clock you you don't understand how cold and how how difficult that environment is

and also don't forget that these people don't get they don't like you know they have they have a reliance on those fuels not because those fuels are necessarily you know cheap it's expensive to buy gas in some of those places i'm sure but they just work and so when you talk about emergency vehicles yeah we're not going to go that direction. Well, why? Because we need them to work. What are you going to do about Amazon drivers, post drivers? Are those guys going to be restricted to EVs? Amazon's not going to play that game.

They're just going to say, okay, well. There are some Amazon trucks. There's some delivery. It was a FedEx. They're electric, fully electric. Probably some. Have you seen them? Len.

They're not the whole fleet i agree it's one thing for like trucks who are cruising through your area in my area right but it's another thing entirely to say like you know we have a truck going out to the middle of nowhere that's uh you know there's a simple solution to that is the cargo area you just stuff it full with batteries and just you have a minuscule amount of area that is able to transport whatever the fuck you're transporting and you're able to drive hours on end no problems now in terms of do we have enough electricity to power at all at gretzky i don't think ripped it i took a look he's still still around. There's no way. It's someone in the chat saying Gretzky died. No, no, it's Ricky Henderson.

That's the, the side one. Different guy, different guy, different guy, another great player, different sport altogether. By the way,

those are, I mean, you've got to go through those Ricky's. Have you read some of those Ricky stories? I saw some great, I saw some great interviews he's done over the years. Yeah. Pretty funny.

That guy, that guy was born for the social media era and just didn't get to enjoy it i don't think he was really because he was such a personal gut personable guy he would talk to fans often and just do like one on one and he was able to just to to talk to them on a personal i don't know if social media would have been his jam but he certainly he deserved to be put in the spotlight more he was funny you ever hear a story about him um getting paid a million dollars no so early in his career he got paid a million dollars i don't know if it was a signing bonus or if it was his first million he accumulated whatever the fuck it was he had a check of one million dollars and so what did he do like anybody else

that gets him like this he put in a wall but what happened is through the year like through the duration of the year it was noticed through the counting that oakland a's were like off by a million dollars like what the fuck happened apparently the guy never cashed it. He just fucking put that check on the wall. I love it. I love it. That's great. That's Ricky being great. And he always refers to himself in the third person too.

I love it. Yeah. A true character, man. True character. Yeah. One time they were talking to him, John 316. You know John 316, right? The Bible passage?

And he's like, yeah. He says, I don't want to. Ricky doesn't want to hear about john 316 ricky's hitting 330. he's so right that's great he was playing for the mets the hitting coach got fired and they asked him about he's like who is that guy Canada they are going ahead with the net zero energy grid electricity grid it's going to be 2035 was initial plan it's going to 2050 I love none of this electricity regulation an emission of defeat they changed it and it's a 15 year change right now 85 of electricity comes from sources like hydropower wind and solar in canada so fossil fuels has a little bit more runway i have nothing else to say about this but yeah 15 more years we have of whatever we have right now

are you surprised that uh they're starting to capitulate a little bit on some of these goals i think it's because they don't have the ability to meet them they just realized that it's the their lofty goals and just literally everybody in the world told them that they couldn't meet them and they still put out these ridiculous numbers and goals and now they're this is a capitulation in my opinion i like it i'm here for it i'm ready i'm enjoying the show but it's good that they're finally realizing that these things are they're harebrained and unachievable and they they're not long for this world none of these goals are these climate goals they're not oil use is taking up all over the world coal use is taking up all over the world and you say whatever you want about batteries and evs and all this other shit but it's it's just

not we're not there yet period in a story we might get there at some point but we're not there yet there's an environmental cost for extracting like the cobalt and yeah yeah it's called poor it's called poor colored kids on the other side of the world fucking digging in trenches with their bare hands uh pulling out chemicals destroying the planet in mult in a multitude of ways in the process it's not even close to carbon neutral the extraction process it's not even close to carbon neutral the shipping process. It's not even close to carbon neutral, the extraction process. It's not even close to carbon neutral, the shipping process. And it's not even close to carbon neutral, the manufacturing process. It's all fucking made up. All these numbers about green energy and we got to be carbon neutral,

they're fucking bogus. Bogus is actually the most generous way to interpret them. They're intentionally misleading and fraudulent is the more accurate way to say it, I think. Especially when you look at the way that some of these companies report their numbers. They have no way to know it, I think. Especially when you look at the way that some of these companies report their numbers. They have no way to know exactly how much they're emitting and they say as much

and then they give the numbers anyways. We're just making it up. I mean, what else is new when it comes to that kind of data? It's all made up. Why should this be any different? There's CPI, emissions. Just make it up. Who cares?

No one's looking. It's a shit. Well, there's one thing that's not made up is in Toronto. There's 1,200 folks. Sorry, 12,000 folks. Fuck, I was off by a factor of 10. There's 12,000 people that are using shelters in the city of Toronto. That's a lot of people.

And obviously, this number is just too large for people to stomach so toronto is going through the efforts of providing more housing or even rent supplemental yeah supplements so according to olivia chow love this thousand dollars for rent supplement and she was even talking about potentially even providing a loan to refugees and there would be an economic benefit from that so the thought is right now for the shelters it's costing taxpayers around seventy thousand dollars per bed per shelter and she's thinking if it's we could translate this to a thousand dollars for red supplement it's only only $12,000 a year, far less than the $70,000. And there's more opportunity for them to spend it elsewhere

just in case their food budget could be reallocated or transportation budget. So interesting. And there's more to this, but I'll leave it at that for now. Let's see if you want to just tack on to that story but is she going to give a thousand dollars to all the immigrants chanting for death to jews in the streets do they get a thousand bucks i just i can't believe all the shooting what about what about the ones who are like killing people and robbing jewelry stores do they get a thousand bucks too what about the

ones who are who literally come here and then like as soon as they get out of the airport fall backwards into car theft rings, are they going to get a thousand bucks? What about the ones who lie about their student status and now are on the ropes because finally we've realized that LMIAs are a scam. It should be called LMIAOs. Are they getting a thousand bucks? Chow is just brain dead. And everyone who likes her, I think is brain dead too. And there was a time when I would not be that pointed with my words, but like you're watching the country get destroyed by morons like this. It's being destroyed by this kind of thinking. A thousand dollars,

where did that number come from? We're just giving a thousand dollars away to every immigrant who comes here who needs a rent supplement. If you come here, you should be able to find a way to live. It's not up to me to pay for you to live because the intent of immigration is to bring people that will contribute to society. You're not contributing if I'm paying for you to live. And yeah, oh, it's so harsh. You shouldn't say that. People need help. Fuck that. There's a limit to everything, right? We know this intuitively, instinctively. We see it. It's not just anecdotal. It's reality. And you can't give away money to every person who wants to come here. You have to bring people here who can support themselves. Otherwise, you will run into problems like this, where you get politicians who just say whatever

the fuck they want with no understanding of how it's going to work, no understanding of how it destroys the future of the country, no understanding of any of this stuff. Have fun, Toronto. Toronto's a communist wasteland now. I mentioned this last week. I always do the day in Toronto thought exercise. in the direction that is just almost unbelievably detrimental to your mental health now and in the future, to family formation, to business formation, to you name it. By the way, the Toronto transit system in disrepair, Toronto police defunded, emergency vehicles can't get through. The city only cares about the Ford government

shutting down bike lanes and giving $1,000 to immigrants. There's more. Insane. It's absolutely insane. There is a story and a proposition of you will own nothing and be happy for this past week. And this is according to a CBC article that Toronto, they broke ground on affordable housing project that is now going to have the city as a builder. And this is an affordable housing project under a model that the city is the developer.

It's being done in Parkdale. 42, keep in mind the number 42, rent to gear, sorry, rent gear to income and supportive units for people experiencing or at risk of homelessness this is set to open in 2026 um i think that's ambitious given even condos on the private market there's always delays and delays and delays so this may open 2027 2028 either way remember 42 rent to gear into units 21.6 million dollars in federal funding has been allocated for this project and this is going to include a kitchen and bathroom plus shared laundry a commercial kitchen and a common area for programming neato i don't think you're talking about programming with ruster ain't gonna be any c++

yeah i'll tell you that. So tenants will pay no more than 30% of their income or the shelter allowance of their social assistance on rent. And remember I've mentioned 12,000 people are using shelters in Toronto. Well, there's 90,000 people on the wait list for the rent geared to income housing. Cool. So that's essentially, it gets anyone building 90,000 homes, Len,

any, any news on 90,000 homes being built geared to all geared to income, tiny trailers, 42, two boxes in the park. This is 42. And it took $21 million to get to this. You have unbelievable.

They talk 21 million for 42 units. So that's the, yeah, very important to digest those numbers. And then when you figure it, 90,000 people are on the wait list. There's not enough money in the pit to make everybody whole here. It's just a sad reality. I think it gets worse. Let's be honest. The price of buying shit today,

be it like apples or going on a TTC or whatever the fuck it is, I can say next year, this time, it's going to be higher. Slightly higher? For sure. It's still higher. Totally. And the income people are taking in probably is not going to be in accordance to how much higher prices are.

So they're going to be further behind. This shit just gets worse and worse. And that number, 90,000, is going to be higher because more people are going to be captured in the inflation net. And we're bringing more people in. People just keep coming and they need support. It is impossible for me to understand the mind of the Toronto enjoyer at this point. You know, center of the universe, greatest city in the world. It's none of those things.

It's a commie shithole. Your mayor's retarded. Say dumb shit on the radio, steady. She honestly never stopped saying dumb shit. The last few months, like every week we talk about something she said or something she wore dancing in the street. Literally, you have a religious conflict on your main city streets and you're dancing around in your underwear at Caravana.

You have people who cannot afford to eat who have been living in toronto for decades shelter use at all-time highs drug use at all-time highs police funding at a low and you're talking about giving a thousand dollars to immigrants you have people who can't afford homes you say that you're you know a judicious spender of the government coffers, the municipal coffers, and you're spending, what was the number? $42 million or $21 million on 42 units? $42 units, $21 million. $500K for a unit.

And Len, those units, they're going to be as big as this room. Probably, right? Something like that. And none of this makes sense. To any competent person, this doesn't make sense. So let's tie it back to Bitcoin. Do you want to be in a currency that is used, distributed, and understood in this way by the people who are at the spigot? The answer, it can't be yes. It can't be. You cannot be exposed to this currency. CAD is especially ugly. I don't know what the election and regime change here will bring for the CAD-USD exchange rate,

but fuck me, man. You got your biggest city making decisions like this. And by the way, there's no direct competition for Chao at the moment. I can't name any other candidates that are you know trying to usurp her or pushing for uh debates or elections or any of these things so i mean not that you can do that in this level but you get what i'm saying we had that guy uh chris goon and he said he was going to make big trot yeah well i've chris sky or whatever chris focaccia whatever whatever but didn't he show up like

just out of the fucking blue one time he came to he came to the conference the first year and his people these like two these two short people like became friendly with me at the conference and then like snuck up on me at the uh after party and like oh we want chris to come on your podcast and they made me take a picture with him i was like pretty drunk and didn't even realize what was happening but i think that guy's a loser anyway what's he doing now is he in jail it's not it's a non-zero chance i haven't heard from the guy in a year or heard about the guy in a year but i don't know but you know what it's uh he'll probably run again right I think he has aspirations to become the mayor of Toronto.

Don't we all? I think he's trounced in this last election. Why doesn't one of us run? We should just run. Why don't we run? I'm not fucking running. How hard can it be? Will you CBP to do all the campaigning? I'm not going to do it all.

The debate has to be on StreamYard. I'm not doing it on it all i don't want to debate it has to be on stream yard i'm not doing it on tv mark can moderate that's actually mark mark will be the impartial moderator and i think there's one last stat i'm going to bring up we're getting kind of long here assisted suicide in canada we have a clown world man it just never stops it never stops so it's being reported that one in 20 canadians that died in 2023 were from assisted suicide i don't know if there's any truth to that but i just thought man that's a very high well it is a high number i'll tell you what is true in terms of the canadian healthcare corner here this story out of i think saskatchewan maybe or somewhere in

the prairies of this woman military vet who had a knee replacement done you know about this this was a while ago didn't she wasn't she told that no no no she lost her leg she had a knee replacement done at a hospital local and then she lost her leg in the end there was there was an infection and the surgeon said, I'm going to clean up some of this tissue. I'll come back to stitch you up this afternoon. He cleans up some of the tissue, leaves the wound open for eight days.

No one in the hospital system thinks to like, this woman's leg got a smell, right? She's got to be yelling for someone to come. No one comes. No one does the surgery. No one cleans up the infection. She ends up having to get her leg amputated. She's a veteran. So when people say, yeah, one of every 20 people died in Canada have MAID, and then you got the MAID enjoyers saying, oh, well, that's people who are terminally ill, whatever, fine. But do you really think you have a case that made

is anything but a cost-saving exercise, at least at some level, when this is the story that's floating around in the media? The sad thing is there's a lot of mental illness. I don't want to shine a light at this, but yesterday on the QEW in Oakville, somebody decided to jump off an overpass it was a the way it was reported right headfirst right into an oncoming truck so there's a lot of people for whatever reason they just don't

want to deal with we know the reasons because the country's fucking headed to third world status i mean like what what i mean this there of course, people who are born with those issues and maybe medications or whatever drug use, but like, man, the longer I'm in Bitcoin, the more I think that the money is causing basically every problem we have at some level. Like you could, you could have a pie chart for every problems causes and money is one third, at least in almost every case. Well, the good news is there's money for stadiums and shit like that. Stadiums. They'll be happy to give it away.

Give it a hundred page budget that they were trying to throw. Oh my God. Included money for the Washington, whatever it had to call these days. The Redskins stadium. Yeah. Like they want it to re re I'm a Redskins fan. And like,

I it's insane. What's the news? I remember RFK. That's the one I RFK. The new stadium is right outside, I it's insane. What's the new, I remember RFK. That's the one I, RFK, the new stadium is right outside Washington. It's like, it's in metropolitan area.

It's not great in terms of access, but it's, it's a nice spot. I kind of, I just, the stadium is kind of old and run down, but the new one is not. Yeah.

It's not new. It's only like, it's probably 20 years old now at this point. And they get a lot of use. I don't, I don't know what a new stadium is in terms of age is it is it 10 years is iberwin that's the thing's field new i don't know you know you look at the roman coliseum 2 000 years later that motherfucker what a surprise you know right like you know the problems with earthquakes and wars but the thing still stands

right yeah now 15 20 years from a stadium arena whatever if you want to call it and that's it like that's brutal yeah what and who gets billed for this in the end it's you and me our kids are their kids everyone's kids you know down the road that's bread and circuses too well like paul says len your buddy paul krugman says that is just money we owe to ourselves, right? So no big deal. Oh, that's the problem. Run it up.

You know, he should voluntarily donate even more and have more put on his shoulders. It's just money he owes to himself anyway. He'll get it back. So the money he has in the bank account, just drain that fucking thing. It's like a scratch. If he does that, I am going to... Whoever does that. whoever does that i love that joy we're done

141 and that's a long time god listen god bless you all merry christmas we'll see you next week for the monday show maybe i'll be here wednesday maybe i won't we'll see uh but i'm not gonna be here wednesday yeah i'll just be fucking you'll just be watching me doing incline bench press with my new power blocks so that's going to be on christmas day for christmas day at night or maybe thursday boxing day i don't know and then one after that is going to be uh new york's day not new york the likelihood of me being free for an hour during the week if i don't have to be is very low these days so fatherhood does have its yeah definitely got me in a bind. And the fact you're here for an hour and 42.

Yeah. We gave my, my wife and I gave my daughter a bath before we got on here. But anyway, story for another time, I'll do a fatherhood episode at some point, me and me and you lend, we'll bring on a couple other Bitcoin fathers and see what's going on. That's it.

God bless. Merry Christmas. We'll see you next time. Don't be a cock.