1 00:00:00,520 --> 00:00:08,000 So it's easy to read a headline like this about the Saudi Arabians getting out 2 00:00:08,000 --> 00:00:12,080 of the petro dollar agreement with the United States and to go, that's it. 3 00:00:13,439 --> 00:00:16,600 Now, she all done. And it's fun to do that, right, 4 00:00:16,640 --> 00:00:19,559 It's fun to say she all done because then you get clicks. But 5 00:00:19,960 --> 00:00:23,559 is it the big deal that a lot of people feel it is. We're 6 00:00:23,559 --> 00:00:27,199 gonna talk with Zach Abraham, chief investment officer bull Or Capital Management about that 7 00:00:27,559 --> 00:00:32,079 and about something he says, once seen, can't be unseen, and that 8 00:00:32,240 --> 00:00:37,399 is how the international monetary system actually works. Talk about this with the help 9 00:00:37,439 --> 00:00:41,719 of God Almighty. Thank you, Lord for making this possible. And thank 10 00:00:41,759 --> 00:00:47,960 you too, you for subscribing to our YouTube channel which is finally finally having 11 00:00:48,000 --> 00:00:53,600 some life breathed into it. That is YouTube dot Com slash at the Todd 12 00:00:53,600 --> 00:01:00,840 Herman Show. The Todd Herman Show is one disapproved by big pharma, technocurrats 13 00:01:00,880 --> 00:01:10,200 and tyrants everywhere. No from the high mountains of Free America. Here's the 14 00:01:10,239 --> 00:01:23,319 Emerald City exile God her Man. Today is a day the Lord has made 15 00:01:23,400 --> 00:01:26,959 in These are the time so which God is the saded, we shall live. 16 00:01:26,519 --> 00:01:30,000 It's a wise Council day. We're in the wise council shirts. That's 17 00:01:30,000 --> 00:01:36,599 what this is named. It sits in a it's it's an especial sealed locker 18 00:01:37,159 --> 00:01:42,079 for days that mister Abraham joins us and then he decides when he'll have his 19 00:01:42,159 --> 00:01:49,239 people. Okay, it make sure that the welcome back brother, oh man. 20 00:01:49,439 --> 00:01:53,040 Whenever I hear you make jokes like that, there's two things that go 21 00:01:53,120 --> 00:01:57,040 through my mind. Hey, I wish it. Yeah, I hope. 22 00:01:57,079 --> 00:02:00,480 I hope that at one day I'm in a position to to be able to 23 00:02:00,519 --> 00:02:05,799 afford such luxuries, and then then the other. The other idea in my 24 00:02:05,840 --> 00:02:07,840 mind is if you ever hear me actually doing something like that, slabby, 25 00:02:07,960 --> 00:02:14,400 oh gosh, I will never I'll never forget the time that I was in 26 00:02:14,439 --> 00:02:20,759 a I was at a meeting where the great man Mitch McConnell attended, and 27 00:02:21,120 --> 00:02:24,360 so we back in the day reluctantly, reluctantly. My partner didn't have a 28 00:02:24,360 --> 00:02:28,759 big problem with McConnell. He was sort of the fifty one percent is better 29 00:02:28,800 --> 00:02:31,159 than forty nine percent Republican. He's sense changed by the way. He's had 30 00:02:31,159 --> 00:02:36,000 a big awakening of oh no, no, no no. So we were 31 00:02:36,000 --> 00:02:38,400 in this meeting where the Great Man was going to make an appearance for about 32 00:02:38,400 --> 00:02:42,919 fifteen minutes to hear our plans and what we're doing to try to help him 33 00:02:42,960 --> 00:02:47,439 in re election. And before he came in, a lady came in and 34 00:02:47,479 --> 00:02:55,919 said, where's the senator sitting? Wherever the senator wants to sit? Okay, 35 00:02:57,039 --> 00:02:59,080 hold on a second. She looks around the room, All right, 36 00:02:59,719 --> 00:03:04,800 let's have the senator here, and then she brings in a bottle of water, 37 00:03:05,599 --> 00:03:07,199 sets it down and looks at it and goes back and like moves it 38 00:03:07,319 --> 00:03:13,240 into a little tiny different position, sits in the chair, gets up, 39 00:03:13,280 --> 00:03:17,560 grabs another chair, switches it out. So wow, yeah, I know, 40 00:03:19,159 --> 00:03:23,080 Wow, I know. When the great Man comes in, she is 41 00:03:23,280 --> 00:03:29,120 walking in and saying, Senator, you remember Jason Campbell, you met him 42 00:03:29,240 --> 00:03:34,800 in and this is uh Cyrus Crone. You remember Cyrus and Todd Herman. 43 00:03:34,840 --> 00:03:38,000 You remember Todd Herman with crowd verb not to make your chicken in the pot. 44 00:03:38,919 --> 00:03:44,280 And he never met me. What did he say? What was that? 45 00:03:44,879 --> 00:03:47,599 I just that's my Mitch McConnell impression. People don't care about. So 46 00:03:47,800 --> 00:03:52,439 fish, you really have a chicken in the pot, double chicken? I 47 00:03:52,520 --> 00:03:59,280 think so that's that's just that's my miss McConn. And he doesn't plush plush 48 00:03:59,280 --> 00:04:02,039 blood plashed you again. I'm like, you've diver met me. Your advanced 49 00:04:02,039 --> 00:04:06,360 person is wrong. She pulls the seat out and if she sits down, 50 00:04:06,520 --> 00:04:10,199 I see her eyeball in his water, like, oh, it's that within 51 00:04:10,280 --> 00:04:14,879 reach? Is that within reach? So you think I'm joking about people? 52 00:04:15,000 --> 00:04:17,879 Your people? Dude, there are people who get treated that way. Oh 53 00:04:17,920 --> 00:04:20,160 I know, I know, you know. You know what's funny? Is 54 00:04:20,240 --> 00:04:26,920 uh? I think that any I think that any time you have people that 55 00:04:27,279 --> 00:04:30,600 you know directly report to you or answer to you right either either through management 56 00:04:30,680 --> 00:04:38,399 or ownership of a business, and then any type of really any type of 57 00:04:38,480 --> 00:04:42,759 media exposure. It doesn't take a lot, but I think that I think 58 00:04:42,800 --> 00:04:46,040 that you have to actively start making sure that you know it's just it's easy, 59 00:04:46,079 --> 00:04:49,199 it's you. You, you deal with it too. I don't think 60 00:04:49,240 --> 00:04:54,680 you and I have ever had this discussion, but you have to have people 61 00:04:54,720 --> 00:04:58,079 in your life that will tell you like it is, oh gosh, yes, 62 00:04:58,920 --> 00:05:02,839 And because is the minute you get that you know that managerial position or 63 00:05:02,839 --> 00:05:09,279 that ownership position, or you know, really any level of media attention, 64 00:05:09,600 --> 00:05:13,160 regardless of what it is. People around you, for the most part, 65 00:05:13,680 --> 00:05:17,040 really aren't incentivized to tell you what you don't want to hear unless you unless 66 00:05:17,040 --> 00:05:21,079 you incentivize them to do it. You know, and I can see I 67 00:05:21,319 --> 00:05:24,879 hope I would never get there, but you can see how it would happen 68 00:05:25,040 --> 00:05:28,399 just over time. You know, you just kind of start, I don't 69 00:05:28,680 --> 00:05:30,639 get you get used to it, right, and you quit paying attention. 70 00:05:30,800 --> 00:05:34,439 Right. One of the wise things that the softed back in the day that 71 00:05:34,560 --> 00:05:41,319 start Microsoft is they had anonymous managerial reviews. Oh that's a good idea, 72 00:05:41,399 --> 00:05:44,199 right, so, and we have a big team. I mean the numbers 73 00:05:44,199 --> 00:05:49,439 were significant. Then the bosses had to present their own results in front of 74 00:05:49,439 --> 00:05:57,680 a team and talk about their plans to improve in areas where they were deficient 75 00:05:58,560 --> 00:06:01,240 and love that. Yeah, I mean it was really really good idea. 76 00:06:01,639 --> 00:06:05,279 I'll use this technique for myself that I think we as family should use. 77 00:06:05,319 --> 00:06:10,240 And it is this that you know, the fruit of the spirit, patience, 78 00:06:10,360 --> 00:06:15,759 kindness, temperance, self control, long suffering, and then love, 79 00:06:16,240 --> 00:06:21,519 Biblical love is you know, never boasting their proud, seeking the server that 80 00:06:21,600 --> 00:06:26,920 then be served not angry, right, those things. I like to create 81 00:06:27,079 --> 00:06:32,439 a chart one line horizontal, one line vertical, and think about around whom 82 00:06:32,480 --> 00:06:38,079 do I feel or observe acts of love and around whom do I feel the 83 00:06:38,079 --> 00:06:41,480 fruit of the spirit. I think we as families would do a good job 84 00:06:41,519 --> 00:06:46,480 to take that as an almost a KPI, a key performance indicator of absolute 85 00:06:46,600 --> 00:06:50,600 family health, right that, and ask everybody in the family, almost anonymously, 86 00:06:50,639 --> 00:06:58,079 here's the chart. Do you see acts of love? Do you feel 87 00:06:58,120 --> 00:07:00,720 the fruit of the spirit? And then to sit down and say, these 88 00:07:00,720 --> 00:07:03,519 are our KPIs as a family, keep performance indicators. Yeah, and you 89 00:07:03,560 --> 00:07:09,920 know it doesn't take long, right, Like it's it's funny you you bring 90 00:07:09,959 --> 00:07:13,560 that up, because the older I've gotten that was like a song of saying 91 00:07:13,560 --> 00:07:15,240 in Sunday School and all the fruit and spirit and all that kind of stuff. 92 00:07:15,800 --> 00:07:18,519 The older I've gotten, though, man, the more I have seen 93 00:07:18,560 --> 00:07:23,079 that present in other people, and the more I've seen it in myself. 94 00:07:23,439 --> 00:07:27,920 Meaning I had a moment probably not too long ago, maybe three or four 95 00:07:27,920 --> 00:07:31,360 weeks ago where and I'm forgetting what it was, but anyway, it wasn't 96 00:07:31,399 --> 00:07:36,040 a nice thought if I remember something getting quick angry at something, you know, 97 00:07:36,079 --> 00:07:40,720 anyway, just something lost my cool or oh I remember what it was. 98 00:07:40,959 --> 00:07:44,759 I'm not going to talk about it. Though I lost I lost my 99 00:07:44,839 --> 00:07:48,360 cool on somebody didn't didn't didn't didn't lose my cool in terms of like put 100 00:07:48,360 --> 00:07:53,959 myself in legal liability or say anything that I would be embarrassed at public. 101 00:07:54,000 --> 00:08:00,480 But just said some really biting, cutting things. And it a while and 102 00:08:00,519 --> 00:08:03,360 I checked myself and I went, you know what, man, you haven't 103 00:08:03,360 --> 00:08:07,319 been on your devotions as religiously as you could be. And I just went, 104 00:08:07,360 --> 00:08:09,439 there's space there and you haven't felt that feeling in a long time. 105 00:08:09,480 --> 00:08:13,240 Where did that come from? Oh? Oh there, there it is. 106 00:08:13,480 --> 00:08:16,240 And then the flip side is I think it's much easier to see. Have 107 00:08:16,279 --> 00:08:24,120 you seen that interview with Tucker Carlson and the president of is it Equador? 108 00:08:24,199 --> 00:08:30,439 Is it Ecuador? Yeah? Yeah, it got like five seven minutes into 109 00:08:30,439 --> 00:08:33,200 that interview and I was just listening to the guy talk and I went, 110 00:08:33,840 --> 00:08:37,960 is this guy a believer? Right? Like? And it was. My 111 00:08:37,000 --> 00:08:39,320 wife was like, how did you know that? And I go, it 112 00:08:39,399 --> 00:08:43,120 was the humility in which he talked like it was just abnormal. You know, 113 00:08:43,200 --> 00:08:46,080 you just know it when you see it you know anyway, go to 114 00:08:46,120 --> 00:08:50,120 the spirit man. I it's the most key indicator. Yeah, me too, 115 00:08:50,279 --> 00:08:52,519 I do too. I want to because you sort of mention the international 116 00:08:52,559 --> 00:08:56,320 situation. I need to ask you about this Petro dollar thing. This is 117 00:08:56,360 --> 00:08:58,840 freaking a lot of people out. So we'll have that discussion in just a 118 00:08:58,879 --> 00:09:03,720 second. Zach played college football and did you guys when you into two days, 119 00:09:03,720 --> 00:09:07,320 did they let you drink water? Oh? Yeah, okay, yeah, 120 00:09:09,080 --> 00:09:11,039 this is actually true. We were doing we were doing two days once 121 00:09:11,080 --> 00:09:15,480 in high school and they called time for water. Okay, water, and 122 00:09:15,639 --> 00:09:18,639 we'd been taking a knee listening to coach, and one of our guys got 123 00:09:18,720 --> 00:09:22,320 up and sprinted to the water thing to be first there. So coach kicked 124 00:09:22,320 --> 00:09:26,240 it over. You got to be first even for water. No water, 125 00:09:26,080 --> 00:09:28,879 And I remember as a kid going, Okay, this can't be all that 126 00:09:28,919 --> 00:09:31,080 good that we're not going to have water on our second work end of the 127 00:09:31,159 --> 00:09:35,600 day. We're using a product here that I'm gonna send you some of this. 128 00:09:35,679 --> 00:09:37,320 I need you to try this in the gym. It's called Native Path 129 00:09:37,360 --> 00:09:41,840 hydrate. So this is it comes from the people who made Native path krill, 130 00:09:41,960 --> 00:09:45,559 which just blew my mind. It got me out of the world of 131 00:09:45,600 --> 00:09:50,360 iberprof and I don't eat iyberprofen anymore. Native path hydrate is zero sugar electrolyte. 132 00:09:50,399 --> 00:09:54,960 It has not fourteen vitamins and minerals key ones, all nine essential amino 133 00:09:56,000 --> 00:09:58,759 acids, two thousand milligrams of branch chain amino acids. And this comes in 134 00:09:58,799 --> 00:10:03,159 one scoop. One thing about the scoops. They're insanely flavorful, very good 135 00:10:03,200 --> 00:10:07,039 flavor, but they are dense. So make sure that you really shake these 136 00:10:07,039 --> 00:10:09,919 things up. In fact, add a little ice to this. Now you 137 00:10:09,919 --> 00:10:13,399 can listen to this and go okay. So Zach, he's a gym hound 138 00:10:13,480 --> 00:10:16,519 Hermann. You're always in the gym, you're always Sweating's so good for you 139 00:10:16,559 --> 00:10:20,679 that you drink this stuff. Here's the deal. Seventy five percent of Americans, 140 00:10:20,919 --> 00:10:24,519 seventy five percent of everybody watching and or listening, is chronically dehydrated. 141 00:10:24,879 --> 00:10:28,759 That can tap your kidneys, make your kidneys get nutty. It can screw 142 00:10:28,799 --> 00:10:31,360 up your heart, your minds, your rest, et cetera, sleep capacity, 143 00:10:31,399 --> 00:10:35,759 ability to regulate body temperature. So just drinking waterloa is not going to 144 00:10:35,799 --> 00:10:41,639 get that done. So here's what you do. You go to native hydrate 145 00:10:41,000 --> 00:10:46,159 dot com and slash tod. That's native hydrate dot com slash tod. You 146 00:10:46,200 --> 00:10:52,639 get up to forty four percent off with thisay today though you got to do 147 00:10:52,679 --> 00:10:56,559 that today native hydrate dot com slash tod and when you do that again, 148 00:10:56,720 --> 00:11:01,240 up to forty four percent off in this hydration boosting power. Don't think it's 149 00:11:01,279 --> 00:11:03,279 just for people like me and Zach hang out a lot in Jim's working out. 150 00:11:03,559 --> 00:11:07,879 It's for people seventy five percent of us who are chronically chronically dehydrated. 151 00:11:09,559 --> 00:11:13,519 So, Zach, there is this decoupling Saudi Arabia has done apparently from this 152 00:11:13,679 --> 00:11:18,159 Petro dollar. And I got text from people saying that's it. It's all 153 00:11:18,200 --> 00:11:28,120 over. So what's actually going on? Okay, So there's some This is 154 00:11:28,159 --> 00:11:33,440 one of these tough topics because usually people do not believe it or buy into 155 00:11:33,480 --> 00:11:37,240 it or accept it for a very extended period of time. Why that is, 156 00:11:37,399 --> 00:11:41,080 I do not know, Okay, but I grew up in this environment. 157 00:11:41,159 --> 00:11:48,799 So my grandfather wrote a very prominent investment newsletter, and he was very 158 00:11:48,799 --> 00:11:52,480 involved in politics. As a matter of fact, he was a lead speech 159 00:11:52,480 --> 00:11:58,919 writer for multiple Republican candidates for president, and he was leader of the Western 160 00:12:00,000 --> 00:12:01,559 States of the John Hopkins Society, and one of the things he would go 161 00:12:01,600 --> 00:12:07,240 around doing is warning people in the seventies and early eighties about the coming collapse 162 00:12:07,279 --> 00:12:09,120 of the dollar, right and based on our soaring debt and all these other 163 00:12:09,200 --> 00:12:13,759 kind of things. I remember finding a shoe box when I was a kid 164 00:12:13,799 --> 00:12:16,440 in my parents, in my parents' closet that was full of nickels and quarters, 165 00:12:16,600 --> 00:12:20,279 you know, just because we had to buy the real silver ones because 166 00:12:20,320 --> 00:12:22,279 silver was going to go up a lot in price, knock and stuff. 167 00:12:22,159 --> 00:12:28,360 So obviously, that collapse of the dollar never came, and I had spent 168 00:12:28,639 --> 00:12:33,159 an inordinate amount of time because I was extraordinarily flustered with the fact that the 169 00:12:33,200 --> 00:12:39,440 dollar was not dropping significantly post eight or nine, right when they started quantitative 170 00:12:39,440 --> 00:12:41,879 easing. I remember sitting there going, Okay, that's it's it's came over. 171 00:12:43,240 --> 00:12:46,080 And what I started to realize is that I need to understand the system 172 00:12:46,679 --> 00:12:52,639 that the dollar operates in, as opposed to just understanding the dollar itself as 173 00:12:52,639 --> 00:12:56,120 a concept or like any other piece of money. Right, Because the reasoning 174 00:12:56,159 --> 00:13:01,279 behind when people say that there's something very visceral and something very attractive about that 175 00:13:01,360 --> 00:13:03,720 logic, because it's very sound and it's very simple. Right, If these 176 00:13:03,759 --> 00:13:07,919 people are producing all this money, and they're printing all this money, and 177 00:13:07,919 --> 00:13:11,080 there's all this debt, the currency trades on four X systems all around the 178 00:13:11,120 --> 00:13:16,600 world and or for X exchanges all around the world, and that will make 179 00:13:16,639 --> 00:13:20,759 the dollar less desired, right, and so people will begin to sell their 180 00:13:20,799 --> 00:13:24,440 dollars to buy gold, they will sell their dollars to buy euros, they 181 00:13:24,480 --> 00:13:30,120 will sell their dollars to buy yen because our currency is less desirable. Okay, 182 00:13:30,159 --> 00:13:35,039 The vast majority of people getting the dollar, and by vast majority, 183 00:13:35,200 --> 00:13:39,559 you know, I don't, but the vast majority of people using the dollar 184 00:13:39,679 --> 00:13:43,559 or accessing the dollar on a daily basis from not doing it because of desirability. 185 00:13:43,759 --> 00:13:46,279 They're doing it because they have to. Okay, so let's pause there. 186 00:13:46,320 --> 00:13:50,440 This is so important. Understand. This is something that Microsoft didn't understand 187 00:13:50,440 --> 00:13:54,279 that it costs them a whole probably six seven, eight years of growth and 188 00:13:54,360 --> 00:13:58,440 value. They'd set up a system where people didn't want windows, but they 189 00:13:58,440 --> 00:14:01,360 had to have it. That was what was at work, that was what 190 00:14:01,519 --> 00:14:05,320 was in the office. People had to have this. They didn't understand that 191 00:14:05,360 --> 00:14:09,159 there was this change coming where that was no longer going to be the case. 192 00:14:09,159 --> 00:14:13,600 The BYOD bring your own device. Microsoft swore that would never happen up 193 00:14:13,679 --> 00:14:16,159 and down. No one's ever going to let that in a corporate network. 194 00:14:16,919 --> 00:14:20,200 No one's ever going to let people bring their own phones. No one's ever 195 00:14:20,240 --> 00:14:24,120 going to let that happen. Wow. Right, And I remember meeting after 196 00:14:24,240 --> 00:14:26,639 meeting after meeting, having this preach to us that's never going to happen, 197 00:14:28,440 --> 00:14:31,120 and no, it is going to happen, you guys. And I used 198 00:14:31,159 --> 00:14:35,519 to say, wait, you guys are the ones who helped define More's law, 199 00:14:35,440 --> 00:14:39,200 and you also defined this for battery capacity. Do you don't think the 200 00:14:39,200 --> 00:14:43,679 same thing is for security and usability? So I wanted just to make that 201 00:14:43,759 --> 00:14:50,879 point that dollar is used by necessity, not choice, and yet there's all 202 00:14:50,919 --> 00:14:54,960 these choices being set up like these other dollars and other methods. Yeah. 203 00:14:56,200 --> 00:15:01,720 So the and the best way to think about it is, well, so 204 00:15:01,799 --> 00:15:05,000 first and foremost you've brought this up to if we're going to look at any 205 00:15:05,039 --> 00:15:09,240 currency or any do you know, any any debt scenario involving a sovereign government 206 00:15:09,320 --> 00:15:13,480 or anything like that, we really have to put things in context, and 207 00:15:13,519 --> 00:15:16,519 whether you like it or not, we can talk about the aft balance sheet 208 00:15:16,600 --> 00:15:22,519 liabilities and there are many and your numbers are accurate as I understand them, 209 00:15:22,559 --> 00:15:26,399 and I'm with you one hundred percent. But if we play that game, 210 00:15:26,440 --> 00:15:31,399 we also have to calculate the off balance sheet assets. Okay, so when 211 00:15:31,399 --> 00:15:35,279 we're thinking about this, let's start thinking about what the Mississippi River is worth. 212 00:15:35,759 --> 00:15:39,679 Right, Let's start thinking about okay, right, what what? What 213 00:15:39,720 --> 00:15:41,840 the Midwest is worth? And what? And look, I am not you, 214 00:15:41,879 --> 00:15:45,759 guys, if anybody's heard me talk about this. In no way am 215 00:15:45,799 --> 00:15:50,120 I making excuses for the reckless spending. But I'm saying we need we do 216 00:15:50,200 --> 00:15:54,399 need to put it in context. And like I've said many other times too, 217 00:15:54,720 --> 00:15:58,120 eventually the dollar will collapse, but that will be a policy decision, 218 00:15:58,639 --> 00:16:04,320 right, Yeah, It's not going to be this long, out extended road 219 00:16:04,360 --> 00:16:08,799 to misery. And the reason why is because when you look at America's asset 220 00:16:08,919 --> 00:16:15,799 base, whatever issue that we are struggling from, we have the natural assets 221 00:16:15,200 --> 00:16:22,759 and the natural capacity to overcome that if we start making good policy decisions, 222 00:16:22,000 --> 00:16:26,480 right, And I think the simplest way to put that is, we are 223 00:16:26,519 --> 00:16:32,919 the only net exporter of energy and food. Now, ironically, if you 224 00:16:32,960 --> 00:16:38,080 look at all of our policy decisions, they directly threaten that position is being 225 00:16:38,080 --> 00:16:42,320 a lead producer or net exporter of energy and food. Right, people go, 226 00:16:42,399 --> 00:16:45,399 what do you mean, Zach, And I'm like, if you see 227 00:16:45,399 --> 00:16:51,039 anybody making our energy system less efficient or our grids less efficient, that threatens 228 00:16:51,120 --> 00:16:56,559 everything, including our capacity and ability to generate power and our ability to generate 229 00:16:56,639 --> 00:17:00,360 and grow food. Okay, so those are all are all intertwined. Right, 230 00:17:02,559 --> 00:17:04,839 But then getting back to the dollar specifically, what what I started to 231 00:17:04,839 --> 00:17:08,160 look at is I need to think bigger. There's something going on here. 232 00:17:08,599 --> 00:17:15,319 This currency clearly isn't being valued on the market like other assets that I'm used 233 00:17:15,319 --> 00:17:17,640 to dealing with. Right, I've got to quit. There's a you know, 234 00:17:17,680 --> 00:17:21,000 I'm watching the debt go up like this post eight oh nine, and 235 00:17:21,039 --> 00:17:23,839 nothing's happening. That starts buying bonds with printed money. Nothing's happening, the 236 00:17:23,880 --> 00:17:29,319 dollar's not dropping. What's going on? So that led me to really dig 237 00:17:29,359 --> 00:17:33,039 into things. And it takes you all the way back and I've mentioned this 238 00:17:33,119 --> 00:17:36,440 before, but it takes you all the way back to post World War two. 239 00:17:37,400 --> 00:17:41,440 So, thank goodness, back then politicians learned from mistakes, and they 240 00:17:41,599 --> 00:17:45,720 learned from the mistake they made post World War One. After World War One, 241 00:17:45,759 --> 00:17:49,720 they effectively laid the entire cost of the world of the war onto the 242 00:17:49,759 --> 00:17:52,440 backs of the German people. Right, that was like the that was the 243 00:17:52,599 --> 00:17:57,640 you know, that was the punishment, right and and and look on the 244 00:17:57,640 --> 00:18:02,000 face of it that it feels like the right thing to do, so you 245 00:18:02,039 --> 00:18:06,359 know, I get it. Well, what ended up happening is that decision 246 00:18:06,440 --> 00:18:08,839 led directly to Hitler going into coming into power because it led to the hyper 247 00:18:08,839 --> 00:18:14,839 inflation. Their economy was shot. They had no ability to create and process 248 00:18:14,920 --> 00:18:18,160 goods that would enable them to generate tax revenue which would enable them to pay 249 00:18:18,200 --> 00:18:22,240 that down that debt. So Germany just started printing the money. And that's 250 00:18:22,279 --> 00:18:25,319 where the term the Vymar Republic came from, right, or that's what it 251 00:18:25,359 --> 00:18:27,920 was called at that point, the Ymar Republic and the hyper inflation that ensued 252 00:18:27,960 --> 00:18:33,079 in the twenties. So Hitler comes to power in direct response to that currency 253 00:18:33,119 --> 00:18:37,680 degradation. And then the world learned after World War two, wait a second, 254 00:18:37,839 --> 00:18:41,880 We've got to do this in a smarter way. So they looked around 255 00:18:41,359 --> 00:18:47,319 and the United States was the only major economy that was still functioning right, 256 00:18:47,759 --> 00:18:52,000 that still had infrastructure in place, it still had the ability to produce things. 257 00:18:52,319 --> 00:18:55,400 So that's when they developed the Marshall Plan. They said, Okay, 258 00:18:55,480 --> 00:18:59,799 we're going to have the United States rebuild Europe on the back of the dollar 259 00:19:00,279 --> 00:19:03,440 so we don't hyperinflate anybody else's currency. And then they're like, well what 260 00:19:03,480 --> 00:19:07,920 about the dollar, and they go, the dollar is going to be the 261 00:19:07,960 --> 00:19:14,400 one currency that in order to trade across assets and internationally, all trades in 262 00:19:14,559 --> 00:19:18,799 all goods must be settled in US dollars. So if you wanted to transact 263 00:19:18,839 --> 00:19:22,160 globally, you had to do it via US dollars, and to this day 264 00:19:22,200 --> 00:19:26,480 you still do. And so what that does is it just puts an automatic 265 00:19:26,519 --> 00:19:32,079 bid, no matter what the government is doing or how irresponse to it may 266 00:19:32,119 --> 00:19:36,839 be. You've got people all over the world, unlike any other currency, 267 00:19:37,240 --> 00:19:41,160 that are accessing the dollar every single day because they have to. Okay, 268 00:19:41,400 --> 00:19:44,920 right, this goes I don't want to interrupt your flow because I'm learning a 269 00:19:44,920 --> 00:19:48,319 bunch. I want to just point out this goes right back to my Microsoft 270 00:19:48,400 --> 00:19:56,440 metaphor. Here's how Microsoft did things that would end any other company. They 271 00:19:56,599 --> 00:20:02,160 shipped Windows and T network and member and everything was going to the network, 272 00:20:02,880 --> 00:20:06,720 right, everything was going to be this connected network. They shipped the first 273 00:20:06,799 --> 00:20:12,920 version of that without print drivers. So you was it just an oversight? 274 00:20:14,119 --> 00:20:17,160 Was it just an oversight or what? Yeah, it's there's so many there's 275 00:20:17,359 --> 00:20:21,039 if you look at the history of tech, there's so many things that should 276 00:20:21,079 --> 00:20:25,519 have destroyed companies. Like I think his name is Mitch Kapor. He invented 277 00:20:25,519 --> 00:20:30,839 the spreadsheet, and Apple bought it from him. Spreadsheet. I mean, 278 00:20:30,880 --> 00:20:33,400 imagine doing your job without a spreadsheet. There was a time and that was 279 00:20:33,400 --> 00:20:38,000 all done on paper. So Apple buys this from him, and this is 280 00:20:38,000 --> 00:20:41,720 why people were buying the early Macintoshes. They would go to the store. 281 00:20:42,079 --> 00:20:45,160 So there's the Microsoft, the Macintosh. Which one do you want the one 282 00:20:45,200 --> 00:20:48,960 with the spreadsheet? Believe it or not. I want the one with a 283 00:20:49,000 --> 00:20:53,319 spreadsheet. Oh okay small business owners. That's why almost all small business owners 284 00:20:53,319 --> 00:20:56,680 had a mac right, yeah, I want the one with the spreadsheet. 285 00:20:56,880 --> 00:20:59,680 So of course Microsoft is looking at this going wow, okay, we need 286 00:20:59,680 --> 00:21:03,319 a spread sheet, and their lawyers are going okay, well, look there's 287 00:21:03,319 --> 00:21:04,680 a patent on this and then the lawyers went and dug through it and like, 288 00:21:06,799 --> 00:21:11,839 actually no, so Steve Jobs team called. I think it's Mitchigapor. 289 00:21:11,920 --> 00:21:14,119 I could be forgetting the last name, but I think I met this guy 290 00:21:14,119 --> 00:21:17,640 and asked one day about this. They call him, Hey, Mitch, 291 00:21:18,400 --> 00:21:21,920 you know about the whole spreadsheet thing we bought from you, could you go 292 00:21:21,960 --> 00:21:30,920 ahead and send the patent paperwork the what not patent? They didn't patent it, 293 00:21:33,480 --> 00:21:37,039 so the entire thing could be just oh, okay, we'll do that 294 00:21:37,079 --> 00:21:42,119 too, no patent. Micro was this guy. He's a genius? Oh 295 00:21:42,279 --> 00:21:45,599 is he one of those guys who just I didn't think about patenting it. 296 00:21:45,759 --> 00:21:48,240 I just forgot that part. And in the case of the Microsoft Inta getting 297 00:21:48,240 --> 00:21:52,920 shipped, oh print drivers, that's right, because this is all about network 298 00:21:52,000 --> 00:21:56,279 printers. So they had to come back and go, oh, okay, 299 00:21:56,359 --> 00:22:02,640 hold on, let's in our case. They had that momentum. All of 300 00:22:02,680 --> 00:22:07,960 that didn't matter until it came to all of a sudden the phones, and 301 00:22:07,240 --> 00:22:11,839 all of a sudden there was this new market phones. Microsoft thought we could 302 00:22:11,880 --> 00:22:15,880 use a momentum in this. And I'll never forget this conversation. I will 303 00:22:15,920 --> 00:22:19,759 never to the day I die forget this conversation. I was on a team 304 00:22:21,240 --> 00:22:25,920 that had an piece of IP that note this. It was called a thumb 305 00:22:26,000 --> 00:22:30,160 driven user interface, a zooming user interface. Thumb driven, so instead of 306 00:22:30,200 --> 00:22:36,519 a stylus picking up a stylus and pointing at a device, you'd use your 307 00:22:36,519 --> 00:22:42,559 thumb and the interface zoomed in and out. And my job was to create 308 00:22:42,559 --> 00:22:48,519 a business model for this. So I created something we called applets, so 309 00:22:48,680 --> 00:22:55,079 we called them lifestyle centric applets. Some you bought, some that came for 310 00:22:55,200 --> 00:23:00,920 free with advertisers. We had advertisers lined up for this. We tested that 311 00:23:00,480 --> 00:23:04,920 software in the Silicon Valley testing lab and at that time it was the only 312 00:23:04,920 --> 00:23:10,079 one that ever came back with one hundred percent usability likability score. And this 313 00:23:10,160 --> 00:23:11,359 had nothing to do with me, they said, they do with a great 314 00:23:11,480 --> 00:23:17,759 genius named John san Giovanni, and John and his team, they designed this 315 00:23:18,279 --> 00:23:22,079 that comes back with one hundred percent usability, meaning people enjoy using it the 316 00:23:22,119 --> 00:23:25,920 second they picked it up. They could use it. They didn't have to 317 00:23:25,920 --> 00:23:30,279 be told how to use it. They enjoyed using it. We sat down 318 00:23:30,319 --> 00:23:33,039 with the guy who ran mobile at the time, one of the chief dudes 319 00:23:33,039 --> 00:23:37,640 who ran Mobile. He said the following guys, Congratulations in this great piece 320 00:23:37,640 --> 00:23:41,039 of software. Hey, you know, I really liked a business model. 321 00:23:41,039 --> 00:23:42,359 I think this could do really well, but we're not going to adopt it. 322 00:23:45,519 --> 00:23:51,839 Why because the start button defines Microsoft. It always will define Microsoft. 323 00:23:52,839 --> 00:23:56,039 It's never going to change. And I was one of the people who invented 324 00:23:56,039 --> 00:24:00,279 it, and I said to him, are you open to feedback about that? 325 00:24:00,960 --> 00:24:04,839 It goes yes, but my decision has been made. Okay. I 326 00:24:04,880 --> 00:24:08,839 just want to make sure I understand your intention. You are telling me that 327 00:24:08,880 --> 00:24:12,920 people are going to continue to pull a tiny little stylus out of their phone, 328 00:24:15,039 --> 00:24:18,440 hold it to their face, and tap tap tap to get what they 329 00:24:18,440 --> 00:24:25,640 want, versus one hand swiping through a zooming user interface. They are because 330 00:24:25,640 --> 00:24:30,480 that's all we're going to ship. That's BlackBerry type thinking right there, dude, 331 00:24:32,839 --> 00:24:37,599 So Zach, you're giving us this unbelievably important lesson about the viiymar Republic. 332 00:24:37,960 --> 00:24:41,240 It's this now necessity that organizations use the dollar. We operate in this 333 00:24:41,279 --> 00:24:48,279 international monetary system. Are we not at risk of the bitcoins or something else 334 00:24:48,359 --> 00:24:52,640 becoming that iPhone that none of us think can happen? Or is it the 335 00:24:52,640 --> 00:24:56,319 fact that we have a big, huge army and nuclear weapons. That means 336 00:24:56,359 --> 00:25:00,240 it's not going to happen. I mean, look, it is going to 337 00:25:00,319 --> 00:25:03,240 happen, right, It's it's a matter of so there is going to be 338 00:25:03,279 --> 00:25:10,440 a new device for payment. Yeah, well, like yes, and one 339 00:25:10,440 --> 00:25:15,640 of the primary drivers of it will be imperialist, in my opinion, imperialistic 340 00:25:15,799 --> 00:25:18,720 type actions you currently see from our government like you see in Ukraine right now, 341 00:25:18,920 --> 00:25:25,519 yep, right, meaning you know that intervention. The fact that for 342 00:25:25,640 --> 00:25:30,839 this issue, I don't like Putin and I'm not even like in Tucker Carlson's 343 00:25:30,839 --> 00:25:34,480 camp on this. I think Putin is a complete scumbag. I think it 344 00:25:34,559 --> 00:25:38,440 makes sense to have communication with him. But I'm not saying this from some 345 00:25:38,480 --> 00:25:42,720 weird like pro Russian far you know. I know there's and look, I'm 346 00:25:42,720 --> 00:25:45,640 not saying that that's good or bad. Okay, I'm not saying that that 347 00:25:45,720 --> 00:25:51,200 will end up being correct or not. What I'm saying is, I'm if 348 00:25:51,200 --> 00:25:53,200 you take both extremes of the Ukraine Russian issue, I'm pretty much right in 349 00:25:53,200 --> 00:25:56,640 the middle, meaning I you know, I don't think that we should be 350 00:25:56,680 --> 00:26:00,039 involved anywhere like we are. But anyway, my point to this is I 351 00:26:00,079 --> 00:26:03,039 don't have an ax grind against Putin. I'm also not an apologist, but 352 00:26:03,400 --> 00:26:11,640 when you look at what them banning him effectively from the international monetary system, 353 00:26:12,319 --> 00:26:17,960 you know everybody took notice and went, whoa, it's it's It looks you 354 00:26:18,440 --> 00:26:23,200 had the same kind of impact on the international monetary and economic system that you're 355 00:26:23,240 --> 00:26:27,880 seeing right now in New York regarding Trump's convictions. Right, it's whoa. 356 00:26:29,319 --> 00:26:32,279 Okay, if we're going to do business in New York, we need to 357 00:26:32,319 --> 00:26:37,359 develop another exchange in Texas, we need to develop some contingency plans because you 358 00:26:37,519 --> 00:26:41,359 just changed the rules, right, and the international response that has been the 359 00:26:41,400 --> 00:26:45,920 same way. But so getting back to why it has not happened yet is 360 00:26:45,960 --> 00:26:49,839 everybody needs to accept. And again I don't know why, but this usually 361 00:26:49,839 --> 00:26:55,200 takes a while for people to wrap their head around. The dollar isn't going 362 00:26:55,240 --> 00:27:00,640 anywhere, and it has nothing to do excuse me, cod it, thank 363 00:27:00,680 --> 00:27:03,200 you, sir. And it has nothing to do with its inherent goodness or 364 00:27:03,279 --> 00:27:07,839 value. It has to do with the fact that if you want to trade 365 00:27:07,039 --> 00:27:11,519 goods or exchanges on an international basis, you've got to do it in US 366 00:27:11,640 --> 00:27:15,400 dollars. So unlike every other currency out there in the world, the US 367 00:27:15,440 --> 00:27:22,359 dollar underlies virtually every single trade. And then a process that has still it 368 00:27:22,000 --> 00:27:26,039 may have peaked. It doesn't look like yet in the data, but in 369 00:27:26,079 --> 00:27:32,640 a process that's been playing out post eighth nine. Guess what, and increasingly 370 00:27:32,720 --> 00:27:38,359 so, guess what by a by a huge number. What currency is the 371 00:27:38,440 --> 00:27:44,200 vast majority of debt in the world monetized in? Right? What? What? 372 00:27:44,200 --> 00:27:48,119 What do you think it is? According to a text message, I 373 00:27:48,160 --> 00:27:56,240 got it's gift cards from Amazon. But this guy he's in Ethiopia and he 374 00:27:56,319 --> 00:27:59,720 said he's like the son of a prince or something. But he's having trouble 375 00:27:59,759 --> 00:28:04,000 with gration. So I'm gonna get Maybe I didn't you he got a hold 376 00:28:04,039 --> 00:28:07,160 of you too. I've got I got ten mil in the mail company should 377 00:28:07,160 --> 00:28:10,920 be running dead. Yeah. I was starting to get a phone call with 378 00:28:11,000 --> 00:28:14,759 him, but someone else answered. It's so weird. It's something a call 379 00:28:14,839 --> 00:28:18,279 center. Weird. Are you going to tell me the US dollar is what 380 00:28:18,319 --> 00:28:22,720 it is monetized in? Yeah? And so and so what so? What 381 00:28:22,759 --> 00:28:23,680 does that do? Right? Every month? What do you have to do 382 00:28:23,720 --> 00:28:26,799 with debt? You got to pay a service fee or you got to pay 383 00:28:26,920 --> 00:28:30,680 a fee. Right, So, I mean the more debt that is denominated 384 00:28:30,680 --> 00:28:33,960 out there in US dollars, the more the demand for dollars increases. Now 385 00:28:33,960 --> 00:28:41,319 here's the cas this is it's we know okay, No, I'm starting to 386 00:28:41,400 --> 00:28:45,599 understand something. This accident of history of World War two, of of oh 387 00:28:45,599 --> 00:28:52,440 well, let's pay with dollars has allowed our country to become evil and stupid 388 00:28:52,519 --> 00:28:57,680 and corrupt. And it's this self feeding mechanism. Yes, and this is 389 00:28:57,720 --> 00:29:02,160 what I meant, and I and I should have I should have dug into 390 00:29:02,160 --> 00:29:06,359 this deeper because I thought I had communicated that. But this is what I 391 00:29:06,440 --> 00:29:08,759 meant when I said, yeah, it's going to be miserable, but I 392 00:29:08,799 --> 00:29:12,079 actually think a collapse in the dollar would be good for the United States in 393 00:29:12,119 --> 00:29:17,039 the long run. That's that's exactly what I meant. It's enabled all of 394 00:29:17,079 --> 00:29:22,319 this, right, think of the think of the international forays that we wouldn't 395 00:29:22,319 --> 00:29:25,559 have been able to get ourselves into because we couldn't afford it. Right, 396 00:29:25,880 --> 00:29:29,279 if we actually had to live on the budget, we didn't have this luxury 397 00:29:29,319 --> 00:29:33,160 of this constant demand underlying our currency, it would it would keep I mean, 398 00:29:33,200 --> 00:29:38,200 look, you've seen it happen with empires. What kept England England didn't 399 00:29:38,240 --> 00:29:41,480 just get religion all of a sudden. What kept them from expanding They ran 400 00:29:41,480 --> 00:29:48,440 out of money, right, so they weren't able to continue that imperialist creep 401 00:29:48,480 --> 00:29:52,920 over over the entire globe. And we're not in that situation yet. And 402 00:29:52,920 --> 00:29:59,640 then here's the other catch. Every time you have an economic catastrophe or anything 403 00:29:59,720 --> 00:30:03,720 like that, at when you're dealing with a fractional reserve banking system, what 404 00:30:04,039 --> 00:30:11,640 asset underlies all other assets? Debt? Right, debt does So when the 405 00:30:11,680 --> 00:30:15,640 economy rolls over, what do you get? You get debt defaults. Right, 406 00:30:15,920 --> 00:30:19,680 what does that mean debts disappear? Well, what are you doing when 407 00:30:19,720 --> 00:30:26,599 debt disappears? You're shrinking the monetary base. So this in a weird way. 408 00:30:26,720 --> 00:30:29,920 So far now this is just a reflexive loop. It will get reflexive 409 00:30:29,960 --> 00:30:33,400 on the other side of this at some point that nobody knows, right, 410 00:30:33,400 --> 00:30:34,880 there will be a moment where it breaks and it flips the other way. 411 00:30:34,920 --> 00:30:37,920 So people have to understand. You know what I hear Zax saying, and 412 00:30:38,759 --> 00:30:42,559 you've said this before, but this is such a more a cleaner explanation, 413 00:30:42,599 --> 00:30:45,839 more complete. I think I've just let you talk and got out of your 414 00:30:45,880 --> 00:30:49,880 way. That the US debt falling or the US dollar falling could force us 415 00:30:51,000 --> 00:30:53,200 now no longer in the age of necessity, could force us to have a 416 00:30:53,240 --> 00:30:57,359 sea change in how we behave as a country. Because guess what, Mommy 417 00:30:57,359 --> 00:31:00,880 and Daddy's dollars are gone. It's funny what happens once the parents cut you 418 00:31:00,920 --> 00:31:06,039 off. Hey, so mama, you know a little short done rent this 419 00:31:06,119 --> 00:31:10,519 month? And I just you know, maybecause just no, my kids start 420 00:31:10,519 --> 00:31:14,480 cleaning the kitchen without being asked. Yeah, well, but I'm gonna like, 421 00:31:14,759 --> 00:31:17,279 I'll probably get kicked out of my apartment. That's gonna be really hard. 422 00:31:17,279 --> 00:31:21,680 How are you going to handle that? Uh? But maybe you could 423 00:31:21,720 --> 00:31:27,039 give me two hundred No, yeah, okay, And you realize now you 424 00:31:27,079 --> 00:31:30,319 start thinking, wait, how much blood can I sell? Every day? 425 00:31:30,000 --> 00:31:33,519 So I don't know, did you have better experience? Maybe I could use 426 00:31:33,519 --> 00:31:36,960 a different blood bank. They won't notice that my lips are white, are 427 00:31:36,960 --> 00:31:41,400 you okay? I'm fine? So you get into this age of necessity again. 428 00:31:41,440 --> 00:31:44,680 I'll bring back the Microsoft thing. There was a team that you remember, 429 00:31:44,720 --> 00:31:47,160 the Zoom Player. We've talked about this that was gonna that was that 430 00:31:47,240 --> 00:31:49,119 was the thing. Yeah, okay, one day I'll tell you the whole 431 00:31:49,319 --> 00:31:52,799 whole story about what that, what that actually was going to be, and 432 00:31:53,160 --> 00:31:56,160 this insane decision they made to make it Zoon. I remember being in a 433 00:31:56,160 --> 00:32:02,920 planning meeting on this, and they decided to create an entire new encoding system 434 00:32:02,920 --> 00:32:09,680 and an entire new codec, not dot wave, not dot MP three, 435 00:32:10,119 --> 00:32:17,279 something that would only work on the Zoom. And I'm saying, okay, 436 00:32:17,440 --> 00:32:23,759 not only do you expect people to buy a device that's three times bigger, 437 00:32:23,960 --> 00:32:30,119 has a screen that's real glass but no video usage, at a higher price 438 00:32:30,160 --> 00:32:36,440 point, with no choices and colors because they're all brown. You expect people 439 00:32:36,480 --> 00:32:40,839 to do this and then buy a whole new music library or get all their 440 00:32:40,880 --> 00:32:52,880 CDs out and burn them again into your codec rather than having them be able 441 00:32:52,880 --> 00:33:00,680 to transfer the music library over from Apple. Yes, here's the crazy part 442 00:33:00,720 --> 00:33:05,240 about that. That is the most unmcrosoft thing I've ever heard, the company 443 00:33:05,319 --> 00:33:12,839 that literally made trillions now off of the basic concept of mass producing a thing 444 00:33:12,960 --> 00:33:17,240 and giving it away right because because widespread adoption was their main strategy, they 445 00:33:17,240 --> 00:33:22,319 were going to give away the software for the player, but not the hard 446 00:33:22,319 --> 00:33:24,839 ware. I know, I know, but but but Zach, here's the 447 00:33:24,880 --> 00:33:29,559 thing. They said, we will promote this through Windows, will promote this 448 00:33:29,640 --> 00:33:32,799 through it will ship with and I'm like, you can't do. We'll go 449 00:33:32,839 --> 00:33:37,880 to the record labels, we'll make sure there's music in the guys. You 450 00:33:37,119 --> 00:33:43,880 don't have enough time, So that thing fails, craters, and sooner or 451 00:33:43,920 --> 00:33:47,799 later someone got into Microsoft, the current CEO, who's mister DEI nightmare. 452 00:33:49,880 --> 00:33:54,720 But you know what he did, Caenan said, we don't get the internet, 453 00:33:57,119 --> 00:34:01,200 we don't get entertainment, we don't get content. We're not good at 454 00:34:01,240 --> 00:34:04,920 this. I mean, I know there's still MSN and I know there's still 455 00:34:04,920 --> 00:34:10,199 being and I know that our focus is we sell software and devices. Now 456 00:34:10,239 --> 00:34:15,719 look at their performance, Yeah, outstanding because they were bleeding money in all 457 00:34:15,760 --> 00:34:17,400 these other areas. Now, okay, Xbox is the outlier. But the 458 00:34:17,440 --> 00:34:22,280 guy who really made that happen was Robbie Bach who said, I'm not going 459 00:34:22,320 --> 00:34:25,360 to tie it to the Windows kernel. No, not doing it in our 460 00:34:25,519 --> 00:34:30,360 case with our dollar. Here's what I hear you saying is that the fall 461 00:34:30,400 --> 00:34:35,800 of the dollar could help us be like Microsoft or you know what, we're 462 00:34:35,800 --> 00:34:38,559 cutting heads like we're going to have to make hard, hard decisions. And 463 00:34:38,599 --> 00:34:42,679 I assume this is something you're gonna address in your upcoming webinar that's the twenty 464 00:34:42,719 --> 00:34:45,400 seventh, that's just around the corner, right, because you're gonna talk about 465 00:34:45,400 --> 00:34:50,760 inflation, inflation being the silent killer of retirement portfolios. I assume you'll address 466 00:34:50,800 --> 00:34:52,559 this with the QA if you like what you're hearing from Zach. Here's at 467 00:34:52,559 --> 00:34:55,599 a register for the webinar. I'm gonna know your Risk Radio dot Com. 468 00:34:55,639 --> 00:34:59,599 It's that easy now. But by the way, these things sell out. 469 00:35:00,039 --> 00:35:01,400 Ever seen you do one of these two weeks in a row, or like 470 00:35:01,400 --> 00:35:04,760 even a month in a row. Is normally there's a big break between these. 471 00:35:04,760 --> 00:35:08,039 So I know this last one was hugely popular. Why is inflation the 472 00:35:08,119 --> 00:35:12,519 silent killer of retirement portfolios? Zac will explaining that, take questions, et 473 00:35:12,599 --> 00:35:16,039 cetera. How Bulwark deals with this with risk management, active management or portfolios. 474 00:35:16,199 --> 00:35:20,400 So go to Know your Risk Radio dot Com register, But you got 475 00:35:20,440 --> 00:35:22,719 to do that soon because these things do fill up. They're free, but 476 00:35:22,760 --> 00:35:25,400 they fill up. Know your Riskradio dot com. But we're Capital Managements and 477 00:35:25,440 --> 00:35:30,159 investment advisor representative Teck Financial LLC and sec REGI investment advisor. Investments involve risk, 478 00:35:30,199 --> 00:35:34,559 you could lose money, and past performance does not necessarily guarantee future results. 479 00:35:35,079 --> 00:35:38,960 So am I Is that still an okay? Metaphor that Microsoft gets us 480 00:35:39,000 --> 00:35:43,159 back into the corner. They had all these distractions for them. They never 481 00:35:43,239 --> 00:35:45,159 committed to entertainment. They never I mean they thought they did, but they 482 00:35:45,199 --> 00:35:52,440 didn't. They never committed to devices like cool like type devices like like like 483 00:35:52,519 --> 00:35:55,280 phones, and just never committed. Let's get back to software. You're saying 484 00:35:55,639 --> 00:35:59,679 that the collapse of our dollar could force our society to say, well, 485 00:35:59,679 --> 00:36:01,599 wait, and we don't actually have the money to teach kids how to use 486 00:36:01,599 --> 00:36:07,880 sex toys. Yeah, no, I you And this is why I tell 487 00:36:07,920 --> 00:36:12,519 people man, And this is why flipping over the religious part of it too. 488 00:36:12,679 --> 00:36:16,119 It's one of the things I really lament about the modern church. There's 489 00:36:16,840 --> 00:36:22,480 there's so many things that is that are great, but one thing I see 490 00:36:22,519 --> 00:36:25,159 over and over and over, and I see so many pastors struggle from this. 491 00:36:25,519 --> 00:36:30,480 I see so many churches hurt by this. There's no talk or discussion 492 00:36:30,639 --> 00:36:37,880 even on wisdom anymore, and discernment right like we we shouldn't if we're being 493 00:36:37,960 --> 00:36:42,760 wives, and we're paying attention. We can see pain coming, usually a 494 00:36:42,800 --> 00:36:45,159 mile away, usually a mile away. Usually it's some form of choice, 495 00:36:45,239 --> 00:36:49,519 right, or lack of choice, or you know, not making a choice 496 00:36:49,559 --> 00:36:51,280 right. I always tell my kids, you don't make a choice. I 497 00:36:51,400 --> 00:36:55,679 want to be made for you. And no. And I think your analogy 498 00:36:55,760 --> 00:37:01,039 is great, and I think that if you just look at cultural degradation since 499 00:37:01,320 --> 00:37:07,679 eight oh nine, right, do you think that is a coincidence? Right? 500 00:37:07,800 --> 00:37:10,199 Am I saying? It's just about the fact that we're running record deficits 501 00:37:10,199 --> 00:37:14,199 and debts at one hundred and seventy percent to gd or what is it, 502 00:37:14,159 --> 00:37:17,360 one hundred and forty or whatever. Yeah, debts one hundred and forty percent 503 00:37:17,559 --> 00:37:21,400 debt to GDP, two hundred and fifty percent debt GDP something like that. 504 00:37:21,599 --> 00:37:24,079 No, but you know, like I always say, it's never one thing, 505 00:37:24,719 --> 00:37:30,480 right, It's always a confluence of events and what's happened on a currency 506 00:37:30,519 --> 00:37:34,320 basis. There's like, if we sit there and go there's a bunch of 507 00:37:34,320 --> 00:37:38,119 grown men in here that are calling us bigots because we don't want them urinating 508 00:37:38,119 --> 00:37:43,599 next to our ten year old daughters in bathrooms, And they're calling us bigots. 509 00:37:43,840 --> 00:37:50,559 Is it Is it a coincidence that that type of lunacy is occurring simultaneously 510 00:37:51,079 --> 00:37:55,599 while our government is literally printing money to pay for everything and paying off debts 511 00:37:55,639 --> 00:38:01,800 and really engaging in the most artificially litive economy in the history of mankind. 512 00:38:01,920 --> 00:38:06,079 No, it's not. Because you're taking things that are not true and you're 513 00:38:06,079 --> 00:38:08,760 trying to make them true. You're trying to breathe truth into them. This 514 00:38:08,880 --> 00:38:10,599 is one of the things that's you know, if you want to keep on 515 00:38:10,599 --> 00:38:15,760 the on the spiritual topic for a second. My wife and I did the 516 00:38:15,840 --> 00:38:21,119 night watch a show called The American Gospel. And so what is the American 517 00:38:21,119 --> 00:38:27,400 Gospel. Well, it is a new atheist movement to create the atheist version 518 00:38:27,400 --> 00:38:35,400 of Christianity. So it's Christianity minus Christ that'll work, right. And here's 519 00:38:35,440 --> 00:38:43,639 their pitch. If you believe the gospel that that God caused his son to 520 00:38:43,639 --> 00:38:49,880 be tortured and murder, then you worship a child abuser because he could have 521 00:38:49,920 --> 00:38:52,159 just done it another way. He could have just said, you know what, 522 00:38:52,199 --> 00:38:57,519 I just forgive it. What the filmmakers are so good at is they've 523 00:38:57,559 --> 00:39:04,000 got great, great, great past who answer this in a fundamentally beautiful way 524 00:39:04,800 --> 00:39:08,920 God operates outside of his creation. He has always existed, always will exist, 525 00:39:09,440 --> 00:39:17,039 and he is truth, he is light, he is love, he 526 00:39:17,360 --> 00:39:22,559 is compassion. Therefore he can't be anything else. And he laid down a 527 00:39:22,719 --> 00:39:29,000 law. This is what must be done. There must be a sacrifice. 528 00:39:29,199 --> 00:39:34,199 So when he said that, it had to happen out of love, compassion, 529 00:39:34,280 --> 00:39:37,079 and truth in the personage of the Lord Jesus. And this is what 530 00:39:37,159 --> 00:39:45,079 the atheists fail to mention. Jesus, the Holy Spirit and God are one. 531 00:39:45,360 --> 00:39:50,280 So when the Lord Jesus is a fully god fully human, he is 532 00:39:50,679 --> 00:39:55,960 experiencing this on behalf of the Trinity. So God allowed himself to experience it. 533 00:39:58,159 --> 00:40:04,119 He did this to himself. Well, that's such a good point. 534 00:40:04,159 --> 00:40:07,440 And not only that, but what is the greatest level of pain that can 535 00:40:07,480 --> 00:40:10,559 be experienced by any human being. It's the loss of a child, right, 536 00:40:12,079 --> 00:40:15,960 right, How do you have a just God if he's not willing to 537 00:40:15,000 --> 00:40:20,440 subject himself to that same pain? Exactly, exactly, And the Lord Jesus 538 00:40:20,440 --> 00:40:25,400 faces none of us humans could live through what he lived through. No, 539 00:40:25,400 --> 00:40:29,119 no, And then the drinking of the wrath, the cup of wrath, 540 00:40:29,199 --> 00:40:34,159 So it's no mistake then that, yes, in a society pretending men or 541 00:40:34,159 --> 00:40:37,599 women and women are men, and that racism of good is if it's against 542 00:40:37,719 --> 00:40:42,519 white people, and black people can't commit racism, in other words, they 543 00:40:42,559 --> 00:40:46,480 cannot sin in this new upside down in verse Satanic version of Christianity. Then 544 00:40:46,480 --> 00:40:50,119 it's no mistake then, and this is where I'm going to get weird. 545 00:40:51,239 --> 00:40:54,440 It would be then no mistake that, in the aftermath of a brutal I 546 00:40:54,480 --> 00:41:04,159 think blatantly Satanic Germany led by Hitler and Soulen. Now all those people I 547 00:41:04,199 --> 00:41:09,719 think were were obviously to me demonic it did to human beings. It's no 548 00:41:09,800 --> 00:41:14,440 mistake that Satan looks at that and says, oh, at last, all 549 00:41:14,480 --> 00:41:22,119 get the dollar, all get an economic mechanism inserted in this that will take 550 00:41:22,159 --> 00:41:25,239 a country that has been a blessing for Christians. That I think that our 551 00:41:25,280 --> 00:41:30,840 Bill of Rights is inspired by godly men. I think it reflects how God 552 00:41:30,880 --> 00:41:35,119 would have government operate, which is as distributed powers. And I can prove 553 00:41:35,199 --> 00:41:38,920 that spiritually, I think and biblically that Satan says, Okay, I'm going 554 00:41:38,960 --> 00:41:44,639 to take this great strength and I'm going to make it worldwide. It's a 555 00:41:44,719 --> 00:41:47,039 necessity like windows used to be a necessity, like a Windows phone was at 556 00:41:47,039 --> 00:41:50,440 one point in necessity because your IT team said, no, it's got to 557 00:41:50,440 --> 00:41:57,800 be windows. And should we actually, Zach be praying for the dollar to 558 00:41:57,800 --> 00:42:06,800 fall? I mean what I will? I hope I'm wrong. I really 559 00:42:06,880 --> 00:42:08,679 don't think that I'm going to be, but I really hope that I'm wrong. 560 00:42:09,079 --> 00:42:15,199 But what is history tell us is that these things will These things will 561 00:42:15,239 --> 00:42:17,920 not get corrected until it does, and even then they might not be right. 562 00:42:17,920 --> 00:42:21,719 But my whole point is, I don't think that you have If you 563 00:42:21,920 --> 00:42:24,960 can create value out of thin air, it is the greatest conjuring trick that 564 00:42:25,000 --> 00:42:30,039 you've you've repeatedly called it. It's the greatest conjuring trick in human history. 565 00:42:30,400 --> 00:42:35,559 And as long as that works, you don't need. Really see, the 566 00:42:36,199 --> 00:42:38,880 reason we need reality as human beings is it hurts to not have it, 567 00:42:39,559 --> 00:42:45,079 Right, Like if I don't realize the stove is hot and I don't recognize 568 00:42:45,119 --> 00:42:47,679 the fact that it's glowing red that that means it's hot. Right, I'm 569 00:42:47,719 --> 00:42:52,239 gonna realize that through pain, right, Like, that's that's how we learn. 570 00:42:52,599 --> 00:42:55,519 Well, as long as it's it's sort of like it's sort of like 571 00:42:55,599 --> 00:43:00,159 having somebody all doped up on painkillers, right and telling them no, no, 572 00:43:00,840 --> 00:43:02,400 you feel okay, but you still don't want to lift that you're gonna 573 00:43:02,440 --> 00:43:07,480 hurt yourself more. Right, Well, if you're all hopped up on painkillers 574 00:43:07,480 --> 00:43:10,119 and PCP, right, you ain't gonna feel it until it whear's off. 575 00:43:10,719 --> 00:43:14,960 And right now we've got a drip, right, We've got an IV drip. 576 00:43:15,320 --> 00:43:16,920 So yeah, no, I think that I think that what you said 577 00:43:16,920 --> 00:43:21,719 there is should we I think we should be praying for our country to realize 578 00:43:21,760 --> 00:43:28,559 that and watching for that to happen because that and and it very much looks 579 00:43:28,679 --> 00:43:31,920 like the first parts of that have started to occur. And to getting to 580 00:43:31,960 --> 00:43:37,280 your original question, Yeah, look, that is definitely tied into what's going 581 00:43:37,320 --> 00:43:44,000 on here in Saudi Arabia. If if the Saudi Arabian news is making you 582 00:43:44,039 --> 00:43:47,280 go out and buy physical gold and silver, you're doing this wrong, okay, 583 00:43:47,480 --> 00:43:53,800 because the Saudi Arabian thing at this point is more it's more metaphoric, 584 00:43:54,119 --> 00:43:59,519 if you will. It's more symbolic because the minute they do that currency swap 585 00:43:59,840 --> 00:44:02,119 in different currency terms, guess what they're going to do with their own banks. 586 00:44:02,440 --> 00:44:06,719 They're going to convert back to dollars because they have to, right, 587 00:44:06,960 --> 00:44:12,559 It's just it's it's totally symbolic at this point. Is that the beginning of 588 00:44:12,599 --> 00:44:15,480 that process? Yeah, because eventually everybody in the world. And it's ironic 589 00:44:15,519 --> 00:44:20,400 that we've called China currency manipulator, which they most certainly are. But what 590 00:44:20,440 --> 00:44:23,119 do you call quantitative easy? Right? What do you Yeah, yeah, 591 00:44:23,239 --> 00:44:27,039 we're doing it too, right, we do it with fancy terminology. Try 592 00:44:27,079 --> 00:44:29,840 to just say yeah, we're doing it right exactly. Yeah. Yeah. 593 00:44:30,000 --> 00:44:31,360 So there's one bit of data I want to lay out to you, and 594 00:44:31,320 --> 00:44:34,960 I know we've been long with your time, You've been very patient with us, 595 00:44:35,000 --> 00:44:37,199 and I'll get to this. It has to do with government employees. 596 00:44:37,239 --> 00:44:39,599 I'd like to dig into with you at some point into this as well, 597 00:44:39,639 --> 00:44:44,280 because there is a there's a separate economy, there's a separate employment economy, 598 00:44:44,440 --> 00:44:47,599 this parallel economy called government labor. We'll talk about that in a second. 599 00:44:49,000 --> 00:44:52,800 On this show, we operate with honest commerce, and it's honestly this. 600 00:44:52,760 --> 00:44:57,679 When we review a product, if it doesn't work or something I can't stand 601 00:44:57,679 --> 00:45:02,400 by, we throw it out. We just say no. When I heard 602 00:45:02,440 --> 00:45:07,719 about the oxy leaf thunder or the oxy leaf too thunderstorm. I'm like, 603 00:45:08,079 --> 00:45:12,000 okay, you tell me. I plug this into the wall and it does 604 00:45:12,039 --> 00:45:16,079 away with bad smells whatever. No, when I got it and plugged it 605 00:45:16,159 --> 00:45:20,559 in, I was stunned by how powerful it was. Then my wife one 606 00:45:20,639 --> 00:45:23,199 day said, man, that thing's insane. I mean, there's one of 607 00:45:23,199 --> 00:45:28,800 these in our house and I don't smell cat stuff anymore. We've litter boxes 608 00:45:28,840 --> 00:45:31,639 in the house, and I don't smell wet dog. And in this studio 609 00:45:31,760 --> 00:45:36,280 on days where I do bring in, because that really does happen like I'm 610 00:45:36,400 --> 00:45:39,400 running in here. I'm late, and I honestly do sometimes come in after 611 00:45:39,440 --> 00:45:43,239 a workout, and you know, God forgive me, I haven't had time 612 00:45:43,280 --> 00:45:46,840 to work out. It stinks, not with the thunderstorm plugged into the wall. 613 00:45:47,119 --> 00:45:51,000 Now, I've got friends of mine buying this for their small medical clinics 614 00:45:51,039 --> 00:45:53,679 because rather than have candles and essential oils, which in my mind stink, 615 00:45:53,719 --> 00:45:59,679 I can't stand essential oils. This thing doesn't produce anything other than the beautiful 616 00:45:59,760 --> 00:46:01,920 smell all of a thunderstorm. And by the way, it's you can control 617 00:46:01,960 --> 00:46:05,159 it. You don't have to have it on eleven all the time. You 618 00:46:05,199 --> 00:46:07,559 can have it on three if it's a small space. If it gets two 619 00:46:07,599 --> 00:46:10,639 to ozone, don't do that. It just destroys the molecules that make the 620 00:46:10,679 --> 00:46:14,559 bad smells and we experience it. So you can have the same thing. 621 00:46:14,599 --> 00:46:16,880 In fact, there's a pet stink guarantee. If it doesn't remove the pet 622 00:46:16,960 --> 00:46:20,440 stink, you get your money back. I'm going to save you two ter 623 00:46:20,440 --> 00:46:22,920 bucks now. Whole home coverage three sees devices. Three of these devices go 624 00:46:23,000 --> 00:46:28,760 to eatinpuredeals dot com, slash todd. That's eatinpure deals dot com. Slash 625 00:46:28,760 --> 00:46:32,719 tod. Simply use code TOD three and they'll guarantee you doesn't destroy the pet 626 00:46:32,760 --> 00:46:37,199 stink. You get your money back. Eatinpeer deals dot Com use code Todd 627 00:46:37,199 --> 00:46:40,559 three. So Zach. As we wrap this up, I came across an 628 00:46:40,639 --> 00:46:45,920 interesting bit of data that indicates to me that we have a parallel economy. 629 00:46:45,920 --> 00:46:52,280 In employment, State and local government's employees average cost of compensation was forty percent 630 00:46:52,360 --> 00:46:55,920 higher than their private sector counterparts. In Q one, salaries were twenty three 631 00:46:55,920 --> 00:47:01,960 point two percent higher, but benefits were whopping seven d nine point five larger 632 00:47:02,480 --> 00:47:07,920 for government employees than their private sector counterparts. And this almost goes right through 633 00:47:07,920 --> 00:47:14,199 the middle of everything we talked about today. That's not just unjust, it's 634 00:47:14,280 --> 00:47:19,719 a moral and it drives a further further reason for these guys to never wake 635 00:47:19,800 --> 00:47:23,159 up to the reality that one day the dollar is really really going to fall. 636 00:47:23,480 --> 00:47:28,199 That what you just described right there, that's bid nomics, right. 637 00:47:28,639 --> 00:47:30,840 And for people that want to know why we're not going into a recession right 638 00:47:30,880 --> 00:47:35,599 there, listen to the numbers Todd just kicked out. Guys like these people 639 00:47:35,599 --> 00:47:37,920 are making thirty to forty percent more than they were making five years ago. 640 00:47:38,360 --> 00:47:44,679 Right you look at government employee roles at record side. Just think about that, 641 00:47:44,960 --> 00:47:47,559 then think about all the deficits spending on top of that with you know, 642 00:47:47,599 --> 00:47:52,880 the inflation. You know, it's it's We've been talking about this for 643 00:47:52,880 --> 00:47:53,880 a while and I just again, I think it's kind of like the dollar. 644 00:47:53,960 --> 00:47:57,280 People just have a tough time wrapping their head around it. We don't 645 00:47:57,320 --> 00:48:00,119 know, how does the economy keep growing. You're like, look at the 646 00:48:00,159 --> 00:48:02,679 money that's getting pressed out there, and that's all it is. I mean, 647 00:48:02,760 --> 00:48:06,679 if you if you came anywhere, if you normalize to two and a 648 00:48:06,719 --> 00:48:09,119 half percent, deficits. Right now, you'd got for recessions so fast to 649 00:48:09,159 --> 00:48:14,360 make your headsman, right, But no, man, I think that you 650 00:48:14,400 --> 00:48:19,920 put it correctly, and people need to understand that's what's happening, and that 651 00:48:19,960 --> 00:48:24,239 it's a policy choice. And in my opinion, that's why the biggest risk 652 00:48:24,599 --> 00:48:29,559 regarding the dollar, and this is going to bake people's brains just like it 653 00:48:29,639 --> 00:48:32,599 did in two thousand or twenty twenty two when we told people, look, 654 00:48:32,920 --> 00:48:36,960 inflation's going to soar and the dollar is going to soar with it, and 655 00:48:36,960 --> 00:48:38,079 people looked at me like I had a third eye coming out of my head. 656 00:48:38,360 --> 00:48:43,360 Right, why was that happening? Because of this system right here, 657 00:48:43,360 --> 00:48:45,280 the way it's set up, the way it actually functions as opposed to the 658 00:48:45,280 --> 00:48:51,239 way we think it should function. Right, And that's why you're actually in 659 00:48:51,280 --> 00:48:57,119 a much in the interim before that process happens, before we d dollarize, 660 00:48:57,559 --> 00:49:02,920 or better yet, it will probably be something like a monetary Plaza cord where 661 00:49:02,960 --> 00:49:08,360 the world comes together. And I'm forgetting, I'm forgetting the name of the 662 00:49:08,360 --> 00:49:10,800 they actually did this. It wasn't called the Plaza cord. That was the 663 00:49:10,920 --> 00:49:15,639 resolution of World War two. But anyway, it's something like that where we 664 00:49:15,639 --> 00:49:19,719 come to I'm forgetting the name of we've done this before, but where they 665 00:49:19,800 --> 00:49:24,400 come and they agree to probably structure a new global currency that will be based 666 00:49:24,440 --> 00:49:29,440 on a basket of commodities and a currency or something like that. But before 667 00:49:29,519 --> 00:49:34,079 that happens, the pressure point, ironically, is the dollar going up. 668 00:49:35,000 --> 00:49:38,519 Right. That's what hurts people because everybody's like, oh, Saudi Arabia is 669 00:49:38,519 --> 00:49:40,800 trying to get away from the dollar because they're worried about it. A collapse 670 00:49:40,960 --> 00:49:45,360 that has nothing to do with that. If the dollar collapses, Saudi Arabia 671 00:49:45,400 --> 00:49:49,199 is loving it, China's loving it. Are you kidding me? It makes 672 00:49:49,239 --> 00:49:53,400 everything so much. It gives them so much more purchasing power and makes goods 673 00:49:53,480 --> 00:50:00,559 less expensive. So you know, it just hurts us deplorables. Yeah, 674 00:50:00,679 --> 00:50:04,760 no, it's just it's it's ridiculous, man. So it's but it's we 675 00:50:04,840 --> 00:50:09,239 gotta until that breaks. Unfortunately, you're not going to see the dollar behave 676 00:50:09,360 --> 00:50:13,599 the way it should. Yeah, well, said brother, appreciate it wise, 677 00:50:13,639 --> 00:50:15,920 counsel days Zach Abraham, Know your Risk Radio dot Com. Say hi 678 00:50:15,960 --> 00:50:21,000 to the family, and thanks for always coming on and saying things that ain't 679 00:50:21,039 --> 00:50:24,239 popular. In your industry. I know that's that's that's thank you for that. 680 00:50:25,000 --> 00:50:29,119 We'll talk about side about all that later. Thank you, brother, 681 00:50:29,840 --> 00:50:31,199 all right, thank you very much. Man as fun as always. Thank 682 00:50:31,239 --> 00:50:35,239 you Lord, Thank you for wise counsel, thank you for friends. Thank 683 00:50:35,239 --> 00:50:37,199 you for reminding us that you are truth, you are lights, you are 684 00:50:37,440 --> 00:50:40,760 justice. You can't take a couple from those things because it's actually literally what 685 00:50:40,800 --> 00:50:43,960 you are. And thank you for being those things. This is the Todd 686 00:50:43,960 --> 00:50:45,920 Hermitshew. Please go, be well, be strong, be kind, Please 687 00:50:45,960 --> 00:50:49,519 make every effort to walk in the light of Christ.