The Pete Quiñones Show - Episode 1102: The Economy and Contemplating Future Patronage Networks w/ Sean Wieland

Episode Date: September 5, 2024

48 MinutesSafe for WorkSean Wieland is a wealth mangement expert. Sean joins Pete to answer a few questions about the economy which segues into a discussion of what future patronage networks for our guys would look like.Sean's Twitter AccountPete and Thomas777 'At the Movies'Support Pete on His WebsitePete's PatreonPete's Substack Pete's SubscribestarPete's GUMROADPete's VenmoPete's Buy Me a CoffeePete on FacebookPete on TwitterBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-pete-quinones-show--6071361/support.

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everyone's giving me and I hope to expand the show even more than it already has. Thank you so much. I want to welcome everyone back to the Picanuano show. I'm here with Sean Leland. How are you doing, Sean? I'm doing fantastic. How are you doing? Doing good, man. For those people who haven't heard you on other shows, give an introduction to tell a little bit about yourself. So my background is in wealth management. I've been doing that for well over a decade.

Looking at a forthcoming book that's on how the managerial revolution has been funded by securities, as well as kind of the generational risks from boomers who are the first generation to really be using 401ks and IRAs for their retirement savings and generate retirement income. And basically, boomers have kind of frozen all of the assets that are important to them and the knock on consequences from that as well. Cool. All right. Let's jump into it. I'm going to, I have a couple questions about a couple sectors. We'll keep it narrow because we have, we don't have unlimited time to just, you know, talk tonight. So, all right, I guess one of the biggest things that we talk about, especially in the political sector, is the way Powell raised rates over the last couple years. And in your opinion, why do you think he raised rates?

And what do you think has been the cause of him raising rates, the most important cause to you? Positive or negative? So in his view, I think inflation is the rationale. There's certainly an argument to be made that price inflation and consumer goods, as we think of it, can actually go up even with tightening rates, which is sort of what we saw as well. Speaking of a political component, I think the reason why he felt more comfortable this time compared to what happened with the taper tantrum in 2018. is basically the money flows or money laundering to Ukraine was in place.

So everybody likes to point at the Fed and the central importance of interest rates, but I tend to agree with the people who look at the Euro dollar system that the Fed doesn't have quite as much power as they think they do, and that there's a tightrope back that gets walked between domestic and foreign economy. So because there was a pressure relief valve to get money into the foreign economy, euro dollar markets while still being able to constrain credit domestically. Once they got that worked out without it creating a crisis, which is kind of what happened with 2018, they felt confident keeping it as high as they did to try to ring out the inflation, basically from all of the, you know, the lockdown related policies over the past couple years.

I want to be careful of my language. I'm not sure how that still gets police. these days. Okay, yeah, no problem. What's the significance of basically destroying LIBOR and going to SOFOR? So that's a great and detailed question that I'm not necessarily the foremost expert on. So the issue is that, you know, fundamentally these are all, how do I want to put this? It's much more of a managed economy than people like to think, you know, especially if there's anybody still listening who came up through that Austrian school, you know, the post-libertarian mentality of, you know, well, you have capital markets, but then there's government interference. And the reality is much closer to the inverse, that it's primarily a command and control economy with market

characteristics added on top. So as far as who is necessarily defining these core rates is political, just like it would be between, you know, different competing groups of elites. So when it comes to all the money that was printed in, say, 2020, and then Biden printed more, the raising of interest rates, making it more expensive to borrow money, that's meant to mitigate that amount of money where after the 2008 crash, it seems like the quantitative easing. A lot of that was sent overseas. So we didn't see the price inflation like we did here. And you'd say that him raising up the rates like that was to try to counter the effects of everything that was printed in 2020 and 2021 and even before that. So there's a concern between

basically asset price inflation versus consumer good inflation. So if we use, say like Richard Werner's framework of anytime you expand credit, it's going to go to one to three places. Either it's going to go into asset price speculation or it's going to go into capital expenditure, which is basically investing in things that should hopefully be useful and profitable, or it's going to go straight into consumption. And usually those consumption goods are the concern of hyperinflation, is that once it starts getting into gas and milk and groceries and so on that people actually buy, That's when people really feel that inflation effect.

And that's when they start, you know, that's when the rabble rousing starts. Right. That's when people are upset because their cost of living has gone up. But it doesn't necessarily mean that they're opposed to inflation. They just wanted to be contained within the speculative assets that, that let's say managerial class is exposed to. So because of the way that those funds were dispersed so widely and into consumption is why you saw prices are 30% up compared to where they were in 2019.

Trying to suck that money back out or constrain that or at least stop that growth before it became too much of a political problem seemed to be the primary purpose of raising interest rates. At the same time, they did not want to risk crashing the global, basically global markets, which is how like 2008, the great financial crisis actually happened. That's a big part of why things started to break at the end of 2018, the overnight repo rate issue in late 2019, which seems to have convenient timing with why those lockdowns and started soon after.

So keeping the foreign markets liquid while being able to constrain or contain credit markets domestically was really, yeah, was the goal, which it seems like, they've actually been able to pull off. Now whether, you know, this first of all, 25 basis point cut is not exactly some huge amount, but whether it was that they got spooked because of the effect of the Japanese markets or because it's an election year or because they have, you know, an eye towards that there's not as much momentum or energy left in the conflict in the Ukraine. and that's not going to be an avenue that's available forever. I think it's early days in that pivot, but clearly it has pivoted.

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So it's interesting how it's kind of like no matter what they do, asset prices are likely to go up. Either you have the stronger dollar or you just have ease of credit which pushes up asset prices. That's like what's the same? Dollar milkshake theory that it's kind of you're going to have the asset prices go up regardless. But yeah, that's I think what they're,

hopeful for. I know many businesses have really been feeling the strain in terms of higher interest rates affecting their working capital. That's why there were these huge layoffs in tech. It's, you know, gotten to the point that, you know, the defaults are starting to come in that basically companies are not able to continue that that carry trade essentially internally. So I think they were, they took the the Japanese flash crash, even though I think that wasn't really a significant. either as kind of the warning of, well, they don't want to keep it too high for too long. So again, between that and it being an election year and whether there are other pressure escape valves might be winding up, I think they made a tactical decision. Tom Longo has had the theory that he was raising rates to basically declare war on the euro. And it seems like he's done a pretty good job of Palestine, a pretty good job of spooking the hell out of, you know, out of the city of London trademark and their cohorts over there.

And so by lowering, by lowering, does that give them a chance? Does that give foreign markets or foreign interest a chance to buy back into the, You think that would be a signal for them that they're going to try to buy back in to the dollar? Yeah, I mean, I suppose it would. I don't know how meaningful that is yet from, you know, such a small cut. The analyst predictions for cuts coming up are, I guess, wishful thinking, I feel like. I'm actually a little bit surprised that this cut went through, but the way a lot of people are trying to price in future cuts are pretty intense.

I know Jack Farley over Blockworks has talked about that like 225 basis point cuts and then like another 50 basis point cut after that. I don't know if that's actually going to pan out. I think they're going to test the waters and kind of see what happens because of this. But, yeah, I mean, if that were to continue, yeah, then that would be an opportunity for them to buy back in. I think it's still a bit early to see whether that happens. If Harris, if there's a Harris administration and she gets to, well, not her, but her handlers get to pick a new federal, you know, Fed share,

and they're much more along the lines of lowering interest rates and even going into the negative interest rate, territory that's always being threatened. How does that affect our economy? How does that affect, how would the average American expect to benefit or to lose by that happening? So let's say if it's much more of like a Janet Yellen coming in. I think the key to that is it would be political. You know, that's a big part of kind of the, you know, DEI or SRI or these special qualifications of who is going to have access to that credit.

And that's going to be a form of patronage. So for the average man on the street who is not going to be able to tap into that patronage, it would probably become more difficult, especially because they're going to be crowded out by the people who can. Yeah, I think essentially that that just emphasizes the political nature of who gets access to that as opposed to being, you know, some kind of mythical neutral market. In your opinion, what's the best thing that could happen? What's the best thing that they could do? We know this is a managed economy.

We're not, no one's getting their free market. No one's getting their laissez-faire, you know, in our lifetimes. What's the best thing that, like, say Trump. Trump gets elected, takes office on, I think, the 20th or 21st of January. What's the best way they can handle the economy on a macro scale to help the average American? Okay. Right. So supposing he gets in, you know, through J.D. Vance and the PayPal Mafia.

So J.D. Vance is very encouraged and white-pilled by that he did a presentation a while back on basically the problem of the resource curse and he compares to that dollar hegemony or you know that that everything is kind of keyed to uh treasuries as far as this credit expansion has been our resource curse so a very quick recap of the the problem of the resource curses why is it that countries that have the most natural resources tend to be the poorest for the average citizen you know if you're in an oil rich country or or a mineral rich country the average person does not get to participate in that wealth. In fact, they tend to remain poor countries despite being able to get a lot of wealth out of the ground.

And the problem is, is because of the opportunity cost that that provides. If you can get money for exports much more easily, much more certainly and faster through just digging it out of the ground, as opposed to having to invent things, develop manufacturing, and so on, assuming you have a finite amount of investment money, where you're going to put it is inevitably going to be in that resource. So it ends up starving or choking out or crowding out anything else that would make for a more diverse and vibrant economy. And in the United States case, the interesting thing is it's not that it's the oil in the ground

or cobalt or coal or anything like that. We've created a synthetic version of that, which is basically the treasuries and the dollar as the global reserve currency. And that's a big driver for why manufacturing has been pushed out of the United States. Basically, that's our version of resource curse. So the fact that Vance has addressed that and that dovetails in with what Richard Werner, who I really respect a lot of the work that he's done, again, coming back to that there's three places that credit can go. It either goes into asset speculation. So that's like real estate, stocks, bonds, things where you know, you buy in, you hope you create a bunch of credit and then, you know, share price goes up, right?

Line goes up into the right. And that's another example that resource curves. Or it's going to go into consumption where you get direct inflation. And everybody, you know, has their issues with that as well. Where it really needs to go is into that that cap. You need to invest in things that genuinely are profitable where you're not just trying to game the system on some spreadsheet or through financialization, but you're actually investing things that create real resources for real people that makes

their life better. Something that would have to be where the energy would go. It is some understanding of that we need a real economy that actually does things that in a tangible physical way actually produces more resources and benefits. the people who would have access to those resources as opposed to just playing these neoliberal spreadsheet financialization games where yeah on a paper statement it looks like the value has gone up but you know you're just moving electrons around you haven't actually generated any real resources so hopefully there is some consultancy there that they have thought this through

and to make policies along those lines where we're focused on actually making CAPEX viable again and not just diverting it all into the easy thing of securities prices. It's actually very similar to what's his name, who wrote Dow of Capital, Mark Spitznavel. The slow growth versus the fast growth is kind of the theme in that, or the roundabout growth. Returning to that KAPX and that roundabout growth would be the thing that would create real benefit for everybody, and they'd feel like they'd have upward mobility again. You catch them in the corner of your eye. Distinctive, by design.

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What are the capital implications of doing that for? Well, not capital, but I mean, just the implications to the average person. Because what you will hear from like Austrian economists and libertarians, They're like, well, even though you may not have a job by sending it overseas to China, it's made so much cheaper than what comes back, it's cheaper. So you're actually, you know, you're not paying as much as you would if it was made here. Now, I don't have a job that I can't pay for this stuff, but, I mean, that seems to be the, that seems to be the argument from the, the, the wannabe laissez-faire types who, uh, you

basically turn into globalists as far as I'm concerned once they start talking about, once they start talking about economics. Yeah, and that's the Ricardian thing, right? But what that ignores is the role of banking and credit creation, which is why that doesn't work and ends up distorting everything into that globalist outcome. So I think the political aspect is worth addressing because, you know, as part of that hollowing out of manufacturing or shipping the dirty jobs offshore, you know, particularly in the 80s and 90s, which conveniently is right after ERISA was passed, right after the boomers are convinced that they need to defer all of their savings into Wall Street assets, which again is, you know, is in direct competition with investing in, you know, that capex of things like manufacturing domestically. also had a political advantage for them that the dirty jobs tend to be right-wing voters. And when you export all those jobs to China and Mexico,

now the people who had those jobs are forced to either go on unemployment or go back to college for re-education, both of which are centers of influence for left-wing thought. So it was a very fox-like way to force the right-wing voting base to get re-educated in favor of the managerial class. Either they had to join the managerial class or they were excluded from economic participation. So as part of reshoring, you know, the emphasis would be on undoing that. That you, you know, the kinds of jobs you're creating would be the ones that favor the right-wing. people, which is also very similar to how Sam Francis reviewed James Burnham's managerial

revolution, that the people who are results oriented, who have competency, tend to be the right-wing people. And the ones who are in managerial spin control that no matter what the outcome is, actually this is good anyway, those tend to be the left-wing people. So that is an inherent power struggle for who is good. going to have economic authority. Now, how that gets done from a capital perspective, first and foremost, it has to be attractive for capital to invest in that kind of real investment in physical things, farms and factories

in the United States and not just abstractions on paper. But that comes back to the banking issue, right? fundamentally where bank credit gets directed, it's all made up. It's all money printing. It's all done through the banking system. It's just a question of, is it going to go to big Wall Street firms, which is kind of from the bank's perspective, all else being equal, the reason they prefer that is because you'd rather deal with a big player.

You know, it's going to be handled much faster, much easier. It's going into something that has very obvious direct returns. You know, you, if the bank gives a loan, you know, to J.P. Morgan and they say, yeah, we're going to take half a billion dollars and put it in these real estate investments. Just the fact that those money flows go into those investments is going to drive the price up. It makes it very predictable to know how much it's going to drive the price up and what kind of time period and so on. So that's why they prefer that. But that credit creation occurs through the banking system is a political function. So you just need the political will to say, no, those, that kind of asset speculation.

is not where the money is going to go to. We are going to have Werner argues there to be smaller community banks where they actually have a community as a known good. You know, here in Philadelphia and also New York as well, Advocus Bank in the 2008 financial crisis is kind of the famous example of that. They're the ones that had no defaults. But then when the crash, the 2008 great financial crisis happened and investigations in the bank started being made, they were also the only bank that had people go to jail because they couldn't explain why they gave people in their community certain loans. They didn't even default.

They would still make good on the loans, but because they actually had a high trust society where they knew the people they were giving loans to on paper in a bureaucratic way, they couldn't substantiate it as well as the lawyers and the more managerial mentality could come up with the excuses and rationale that they could in the bigger national bank. So yeah, that political culture war is the one that has to be one. And yeah, a policy that directs capital creation towards factories and farms and actually generating real resources, real resources and innovation is going to have to be the way forward. There's probably innovations that can happen in how manufacturing gets done, mass customization,

being able to do small batches. There's some really incredible things happening now with industrial scale 3D printing or, you know, five access end mill designs. Germans are also very good at this too. I mean, there's plenty of YouTube videos. If you're the kind of Autistic Spurgett likes to watch how things get manufactured. But there's bringing that into America and restoring the knowledge that comes with that too is huge. you know, a big part of what got lost in manufacturing being in those dirty jobs being offshore is all of that, the knowledge that it takes to get those kinds of jobs and the mental

discipline to do that kind of work went with it. You know, the average Chinese citizen who works at PCB way or someplace where they can do very customized circuit board and 3D printing projects. You know, I'm kind of been. of that as an American. And that's the sort of thing that we should be able to do here if we're going to create resources in the same way. Do we need to go back to the old system of people going through education, having real counselors, real guidance counselors, helping them figure out what their strengths are, and then educating them in these specialties. having, I mean, it just seems to me we're at the point that if we're going to have manufacturing

back in this country, if we're going to have specialty, we're going to have specialty manufacturing, if we're going to have whatever it takes for the future, it almost seems like the state is going to have to get involved to educate people and for it to be targeted and for it to be something that is something that the free marketeers and the libertarians will cry about, but it seems like it's the only way. I mean, if we don't have people who can't do these jobs and who aren't going to be able to afford a, you know, a quote-unquote private university or a state university or a state trade school, which they're going to have to take out loans for in order to, and then, you

know, the prices of everything are going to skyrocketed and then they're in debt and everything. We may just have to go back to that model of, we just teach people how to do stuff. Yeah, to bring back the polytechnics. A big problem with that, too, is the culture and that, I don't know, something like 70 to 80 percent of educators are women. And women psychologically tend to prefer institutionalization. and, you know, kind of consensus making as opposed to an emphasis on competency.

Probably a lot of diagnosed ADD for young boys is more because they're in an institutional setting that's designed for girls and for women. And then a big problem with that is, well, how do you attract more men into education? Not only does that culture of education need to be completely revamped in order to emphasize competency and outcomes-based merit as opposed to approval and whether people like you or not, which is how the Prussian system has traditionally been set up. But also the financial incentives need to be there because men are still going to cling to wanting to be the breadwinners and the heads of households and do the kind of jobs that can command good pay. And education

I wish the current education people education were paid less, but if you're going to attract good talent, you've actually got to pay them well. So how are you also going to have an incentive structure where men are going to be willing to enter that field? I know Peter Thiel has been big on paying people, you know, basically as a venture capitalist as an alternative to academia, paying people to drop out of college in order to, invest in their business ideas of venture capital. There could certainly be working university or like, you know, a teaching factory or something.

I mean, there are teaching hospitals, right? So a setting where, you know, it's a profitable enterprise, but it also takes on the mission of apprenticeship and education to raise a generation of men to be competent in whatever that discipline is. But there is going to have to be the credit creation also as a form of patronage. So this would be in competition to, you know, the, you know, those who are trying to go more of that like DEI, ESG route. With that goal of that, there's going to be real productive capacity at the end of that. And that all comes from banking and how loans are underwritten. And there's historical precedent for this. People have a lot of very legitimate criticisms of the New Deal and FDR,

but part of that was getting away from the feedback cycle of asset-based lending, which is a big problem now that basically boomers were able to ride an asset bubble up, and everybody who did not get to buy in early or at the right time has been frozen out of participating in that. But when the New Deal was developed, a lot of it was, okay, well, you know, you're this kind of person from this kind of background in this kind of neighborhood. This is where redlining came from. But we trust you to be able to pay back a 30-year mortgage. You don't have the assets that justify being able to finance a house over 30 years in this way. But given what kind of person you are and what you do in the circumstances that we're in, we think you're actually.

going to fulfill this. And they were proven right that, you know, most people who took advantage of those special housing programs did pay back their mortgages and created a culture of homeownership. So that kind of, you know, with our guys in control as opposed to our enemies, you know, those kinds of projects are possible. Obviously, the devil is in the details and the underwriting and there's going to be plenty of people who are going to try to game the system just for short-term profit or to make a quick buck or, you know, take that money and off-short or whatever. So there is going to have to be the appropriate amount of watchdogging and gatekeeping around how that participation occurs. And the difficulty of recreating high-trust society,

frankly, that the people who are participating in that venture genuinely do agree with the mission and that they're not just using it as, you know, Pornell's iron law of bureaucracy, that that people are joining the bureaucracy just to expand the bureaucracy. They have to actually believe in the mission of whatever that bureaucracy is intended to be scaffolding to create. Employers, did you know, you can now reward you and your staff, with up to 1,500 euro and gift cards annually, completely tax-free. And even better, you can spread it over five different occasions. Now's the perfect time to try Options Card.

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some more cultures were starting to be mixed in, but it was pretty, there was still a lot of trust. I don't know if it's the highest trust society, but there was still a lot of trust. Kind of hard to have that when you have tens of millions of illegals here. I mean, let's not even call them illegals. They're just, you know, they're not supposed, people who aren't supposed to be here, foreigners. They're not supposed to be here. So, yeah, I mean, if, I really honestly see that there are many paths to fixing what's wrong,

even financially, even economically. But that really doesn't start until you stop foreigners from coming here and then expel the ones that are here that you can't implement systems as such because you know that they're just going to destroy it. Yeah. I mean, again, that's the competition in patronage networks that's already underway. You know, there's a lot of conversation now about the real estate market, especially in lower value housing, has really become distorted because as long as there is one documented person in an extended family, a lot of the blue states will then provide development, basically like business loans to everybody in that family, and it all gets key just to the one person who's documented who has some kind of tax ID. And of course, what this promotes is rampant credit fraud, which they don't, that's almost like the idea.

It's like a kind of a wink in a nod system in order to be able to deliver patronage to those kinds of people. So that is, you know, basically they're already doing it in their patronage network. And we have to figure out how we would implement that in a way that would successfully compete. And it's a question of the incentive structure, you know, a friend-enemy distinction. So you're talking about just basically saying parallel systems, and people having to not only get over the concept of the patron and patronage, but embracing it.

Because, I mean, that's the way, yeah, the way I look at it is we're in such a dire place. We've been brought to such a dire place that we're at the point where patron and patronage and even noblesse oblige, these are things that have to be considered or basically we can't go forward. Yeah, and I would add that, I mean, that's how it's already happening, right? Our enemies already have these patronage systems in place in order to fund the foreigners in order to,

in order to, you know, replace the domestic population. You know, they're getting the money to do it to be able to buy up housing, to be able to, you know, buy out whole neighborhoods in order to push the existing people, you know, for all the cries of gentrification, it's basically their version of gentrification, except it's, you know, these people from, you know, poor across the border that NGOs are facilitating to get in, and they have systems in place in order to get them, because, you know, they've probably run the math and found, you know, hey, what are the voting blocks in those districts need to be 10 years from now. Okay, well, those are the places where we're going to flood people who are going

to be the future voters, right? We'll have a huge extended family, get established. Yes, they're not going to get citizenship overnight according to the existing rules, but eventually they'll have kids and then those kids will be citizens and then they'll get them on the fast track and, you know, they know that there's a pipeline process for establishing people who are going to be the beneficiaries of that patronage who, you know, hey, they know where their bread is buttered and they know who, you know, gave them that and consequently who they're supposed to vote for or who they're supposed to support, you know, in that, in that district or that voting region. So, yeah, it's back to that there's no such thing as, you know, the myth of neutral institutions. You know, the reason we're getting trounced is if you're going to stand on principle that there shouldn't be patronage, that's a losing argument.

You've got to figure out the patronage network that can outcompete them. Now, fortunately, their patronage network, whether it's supporting foreigners who shouldn't be here or climate change initiatives or diversification, the projects that that money is going into is about as successful as pouring money into the Ukrainian War initiative. You know, it's just not a productive use of those funds. It's basically just designed for money laundering or to throw money at the problem, but it's a big pit. Even if we had less money to throw at our guys, but our guys are productive. And I think we have a huge untapped reservoir of basically weaponized autists. you know, the Bill Fosters out there who, you know, used to be the engineers that designed Minuteman missiles and are now so-called not economically viable, they just need the funding

to be economically viable. And that means controlling the banking institutions and how that underwriting is done. Maybe there's even a way to do that through, you know, a shadow banking infrastructure to bootstrap it through shadow banking. But it is that credit creation function and directing where that money goes that is really the political organ that needs to be captured. Maybe that's one of those things that even though we're broadcasting us on a podcast can be done kind of quietly and done, you know, through executive action in a way that is not going to get sandbagged. Well, we got about 10 minutes left. So let's talk about some practical stuff to people who might be listening.

So say somebody right now is, you know, working men, family, couple kids, owns a home, still owes a lot on the home. What should they be looking at doing? How should they be looking at strengthening their situation? So first thing I would look at is,

you know, if they are depending on kind of traditional finance for their future, You know, they've got an IRA with stocks and bonds like that, and they're depending on that. That they should not be 100% long on the economy, which is what those assets assume. Try to diversify into some defensive assets so that if, you know, the economy does take a spill, you're not only going to have a safe haven from that, but you would be able to benefit or offset the losses that you would incur elsewhere. At the same time, I know this is kind of a tired drum to beat, but developing a local community and actually getting to know your neighbors and finding out what their skills are and how you can help each other in a time of crisis, you know, to reverse that atomization and actually start to rebuild a trust network.

You know, when when that system that benefits atomization hits the skids, it's going to be that that local or parallel infrastructure that is probably going to be the difference between whether you do all right or whether you're in serious trouble. So, you know, it's a little bit kind of out of the box thinking, you know, there's not going to be, oh, you just got to buy this product or save up enough ammo or, you know, anything as consumerists as I think Americans are a little bit trained. or prone to think, it's really going to be more about, you know, hey, how can I join, you know, a volunteer emergency services group, you know, or the volunteer fireman, and then you get to know the other firemen, and you know that those are the kinds of people who take on that responsibility. Or maybe you're going to join, you know, for sake of health and discipline, you're going to take up a martial art. And you know, I know Brazilian jiu-jitsu is very popular for people to network because it demonstrates that you're capable of sticking with something,

remaining disciplined, you actually get to know the people, you know, in your training group. So those kinds of, you know, human value, I think, is what will help in a situation where formal infrastructure falters. Employers, did you know, you can now reward you and your staff with up to 50, £1,500 euro and gift cards annually, completely tax-free. And even better, you can spread it over five different occasions. Now's the perfect time to try Options Card.

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So I was talking about Lafayette Lee and the episode just dropped a couple hours ago. And he was talking about the time he spent in Africa and how he knew people that went over there and young men, single men who went over there and made enough money in five to ten years to retire for the rest of their lives. They obviously had patrons that they were investing money for. not everyone's going to have the capital to go over there and do the kind of thing. But he also said that you might have to be a former military and know how to handle yourself. Our guys, many, a lot of our guys are young, single, and, you know, hungry. What would you recommend they do? They should be doing right now.

So even though I'm even a little guilty of this myself because I've been looking into having a place abroad, I'm always of kind of very conflicted feelings over that. At the same time, everybody, you know, every American friend of mine who I know is going abroad. I said, you know, Americans don't realize how poor they are from how high the cost of living has gotten here. That, you know, compared to middle class people in, in Malaysia. or these other places, you know, if you're middle class in America, you just don't, you're so

much more worse off than they are, which until you actually live that comparison, they don't realize. It is a little bit of a go-west young man in that sense of, you know, where is the new frontier, where is the place that you're actually going to be able to stretch your legs and prove your worth. if it is not from going abroad, it is going to be who are the leaders in terms of capital and reshoring here in the states who are going to be able to do that. And to try to leverage those networks. So, yeah, if you do have those veterans networks or that those trust networks established, you're definitely going to need to leverage them to find out where those opportunities are.

And, you know, there is a problem, too, that I could say, oh, you know, going to this industry, going to that industry. And as soon as I say it, it's already going to be filled up and too late to get in. So whatever that recommendation is, it's going to have to come from that personal circle that you know well and not necessarily something that could be, you know, blanket advice that I could give to everybody. All right. Well, next time I'm going to make sure that we have more time and we'll talk about some

maybe some more abstract or just get into you know the meat and potatoes of what you you know what you do you know what you've been doing for years and um you know really dive into um maybe get more into what how you see things playing out and how you would um you know just just more more than was rushed you know because i thought like there was a couple of things wanted to ask you and everything and I got that. But it seemed like to me, what people are going to take, the bigger takeaway in this is going to be what we talked about at the end. Where it's like how do we go forward?

What do we do? How do we signal that this is what we want? Because anyone who studied elite theory knows that elites and potential elites always have their finger up to the wind and they're trying to see where the direction is blowing. And I think anybody who's been paying attention on, you know, Twitter X for the past couple of years knows that, you know, there's a really good possibility. And it's pretty much been proven that a lot of these elites that are seeking to take over and displace the current elites we have have looked to a lot of us for signals. So I'll leave this as a teaser to close out on, but the thing for the counter elites to look at is, you know, this existing traditional finance infrastructure is one that I believe is headed for a liquidity crisis.

It's not a market that's going to continue to stay liquid where they're actually going to be able to make use of these paper assets that they have. And while it remains liquid now before they realize that, before these index funds start to unwind and have to get, you know, put on the Fed's balance sheet, is a convenient time to pivot out and divest from those assets and into something that would be privately held run by our guys that actually would be profitable. It's a huge investment opportunity for, yeah, for those counter elites who are interested in, you know, what the next super cycle is going to look like for them to get into that. And then, you know, the common working members of our guys are going to be able to benefit from getting, having opportunity to have those kinds of productive jobs. That's a great teaser. Do you want to direct anybody, direct people to your work anywhere? Um, so I'm on, I'm as Sean does it on most social media platforms. Uh, I'm still in the editing phase of my book.

I'm sure as soon as that comes out, it will be out. Um, you know, I'll do the circuit again and, uh, put out there where to find it. Um, but yeah, in the meantime, I guess just, uh, watch me on all the socials. And look forward to, uh, the next one. We can get more in depth into these solutions. All right. I appreciate it, Sean. Thank you very much. Yeah, thanks for the time. It was a pleasure. Airgrid, operator of Ireland's electricity grid, is powering up the Northwest.

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