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Figureheads started two hours late. Two
hours here. We are starting a little

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bit late for people watching, and
they're listening live by about two minutes,

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and we're gonna apologize. Figurehead didn't
even apologize. Zach Abraham's with me.

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He did not watch, God Bless
him the Big Boy press conference, so

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we're gonna get him some video from
that responding livetime. But there's a lot

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of financial stuff we'll talk about.
And he's on vacation, so I didn't

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wear the Wise Counsel shirt. If
you're watching, it's in the closet.

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If you had anything to go get
it. I'll go get it during a

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break or something. I know you
get your bored for us. We'll get

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into that. We'll get to Biden's
bumbling a four million dollar trash can study.

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Zach has some wisdom about HBC bank, Bowie's criminal conviction and joke.

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Find so much to get started with. We'll start with the help of Alan

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Soaps dot Com, so Todd and
God Almighty. The Todd Herman Show is

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one hundred disapproved by big pharma technocrats
in tyrone everywhere no from the high Mountains

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of Free America. Here's the Emerald
City exile God to her man. Today

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is a day the Lord has made, and these are the time so which

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God is the said, which shall
live. So good to have Zach in

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studio with me. Live those who
are on the live feeds, you can

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even ask questions of zach Man.
You know what, I didn't tell my

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friend Tom about this because it was
afraid he would have camped out here.

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You would have been driving up in
the morning. Oh, I'm I'm just

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joking, Tom. You join your
VAKA. Well I am, but but

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I'm also I guess I was doing
my own Biden impersonation this morning. Yeah,

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it was two hours late. I
was forty five. You thought I

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was gonna beg on you on that. Oh no, I got to tee

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it up myself. I gotta hit
it before you do. No. Yeah,

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so yet, and there really is
nothing to the story. I was

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sitting there sipping my coffee and then
you're in this beautiful rent. No,

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you got to get us set the
scene. Pleaar micup tea. You gotta

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okay, you got to set the
scene. You're sitting there. You guys

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have rented a twelve room mansion,
A couple of different helicopter pads on one

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of the decks. Yeah. Yeah, we flew the helicopter in okay,

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good yeah. No, I just
first of all, we've never The only

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time I've been to Cordelaine was last
year when we came for the function of

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your church, and uh, as
a kid, I spent some time on

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Ponderrey. That's gorgeous too. But
we never stayed here, and so we

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rented a house up in Cave Bay, a little bit out of town,

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but not too bad. I was
telling my next door neighbor, when you

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don't have to deal with traffic,
a forty minute drive is actually nice,

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right. I was listening to my
podcast sermons on the way in, you

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know. Yeah. So anyway,
so I wake up this morning and that's

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it. You know, it gets
light on the lake so early. It

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was light at like five point fifteen, you know, and sipping my coffee,

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watching my sermon, taking my time. Oh I got to leave at

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seven, and then just going through
emails again checking it and I went,

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oh no, no, no,
we started at seven. So yeah,

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I wish there was a better story
to it, but here we are.

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That's that's that's the way stuff happens
in VK. So you didn't get to

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see a moment of clarity yesterday that
the figureheads two hours late and he came

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in after. I cannot wait to
show you this because you know the fifty

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first state, the boss of the
fifty first state, Zelenski, was here,

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and so you know what that means
financially. Yep, Okay, you

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got to see this and hear this
and ready, yep, all right,

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we hope this plays because we didn't
get to test. Here we go,

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turned the sound up. Okay,
let's start it again. Here we go,

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Here we go, and now I
want to hand it over to the

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President of Ukraine, who has as
much courage as he has determination ladies and

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gentlemen, President putin, President putin. Hey, look, it's it.

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I can't. I don't. I
the the human slash Christian side of me.

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I feel bad for the guy every
time he talks. The fact that

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anybody is the fact that I mean, Chris Matthews is like the biblic or

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the excuse me, the Dictionary definition
of adult. So I just don't think

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he's a very smart man, you
know. Yeah, I don't you know

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him. No, I don't know
him. I I you don't know my

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Chris Matthews story. No, but
I heard you teeing it up and you

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don't know the story. I don't
think so, so I'm sorry for people

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who heard this part. I just
said, Okay, I'll tell it,

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but I'm not telling it next week. So I'm in the Asella Lounge in

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New York City, Okay, okay, So this is where people who are

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spending their bosses money or rich people. In my case, I've well R

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and C money, other helicopter people
right, other couple of people there are.

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So we're sitting in the Assella Lounge. We're in the business class of

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the first class train for this Cella
Corridor, famous corridor between New York and

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Washington, d C. The Corridor
of Power. And Chris Matthews is in

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there, and he is lit and
the drinks keep flowing. He is loud,

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shocking, right, and he's he's
instructing everybody and everything, and I'm

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trying to get work done and I
just find that treatment of people very obnoxious.

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So we get out of the They
come and get the important people us

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so that we can board the train
before you know, the stinky commoners,

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and we're standing there in Central stations
and he's still holding court. Okay,

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this is bugging me. So I
get on my phone and pretend to make

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a call and I go, honey, oh my gosh, yeah no,

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I'll be I'll be back in DC
tonight. But I'm just I want to

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let you know, man, you're
not gonna believe who's standing here. It's

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incredible. I'm like, I'm feet
from him. I'm gonna go see if

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I can meet him. It's it's
a guy from MSNBC, Ed Schultz.

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I was hoping. He said,
like Dan rather and I said that and

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so, and he's a lot taller
than you think. And he gives me

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the double birds. No, yeah
right, I'm like going, he's waving

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at me. That's so good.
It actually bugged him. Oh of course

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it does. These people are walking
egos. I know, I know it

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actually bugged him. So there's a
lot more we've got to get to with

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the figurehead. Then we got to
get into your charts. You brought charts.

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There's so much financial stuff. So
let me just do a quick announcement,

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real quick about the native path krill. Native path krill is a thing

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that has replaced iberprofen. Let me
just ask you this about iberprofen. Honestly,

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this is my camera right now.
All right, okay, now listen,

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do you actually what? Oh?
You don't like me to go up

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and down and back and forth.
I can see it on the screen.

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00:06:42,839 --> 00:06:47,439
I know what I'm doing to the
focus. I stayed to stoop ibraprofen.

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Do you think it solves inflammation?
No, Honestly, I'm asking you.

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I'll do it figure out style.
No one knows the truth. Iyberprofram doesn't

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solve inflamation, and it covers up
the symptoms wall that causes more of it

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00:07:01,839 --> 00:07:05,160
by eating away your gut lining.
I know you've tried the Omega three fish

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00:07:05,160 --> 00:07:08,720
oils. It hasn't worked. This
is not fish oil. It comes from

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00:07:08,759 --> 00:07:13,920
a crustacean, far more absorbable in
your body, far more potent, comes

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00:07:13,920 --> 00:07:17,839
from cleaner waters the Antarctic. It
is wild cought crustacean, a krill,

108
00:07:18,399 --> 00:07:25,360
and my experiences it replaced iberprofim because
it actually fights inflammation, it doesn't cause

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00:07:25,399 --> 00:07:28,879
it. Go to Nativepathcrill dot com
Sas Todd, see the specials they have

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00:07:28,920 --> 00:07:31,199
for you today. It's Nativepathcrill dot
com Sash Todd. It's got to get

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to the financial stuff, HBC bank. We got to talk about the Alex

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Jones versus Boeing. Fine, we
ordered our native pathcrill by the way,

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you did, yes, sir,
thank you. My wife ordered them.

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I love it. Awesome. Well
you you've you've give you give a lot

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of good, a lot of good
stuff, good, a lot of good

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tips. I appreciate that. Thank
you. That's awesome. Let us how

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it goes vice presidents. If it
works, it's gonna work. Uh.

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The the the figurehead named himself a
new vice president. So, Cammys,

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you didn't know this what you've been
totally didn't been on the wake man.

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Oh I don't even have cable TV
out there. Yeah. Oh, and

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I've been taking full advantage of that. No, Cammy's out, No way,

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don't believe me. Okay, watch
and listen ready. Yep. I

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wouldn't have picked Vice President Trump to
be vice president, so I think she

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was not qualified to be president.
Oh, it's calm. This is like

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a three This is like a three
legged dog that has cancer and just developed

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glaucoma. You know what I mean? You're put him down right, And

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I don't mean I don't no,
No, I mean his political career.

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Okay, I don't wish ill on
anybody. So when the Secret Service comes

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knocking, I know what it meant, like, I need that right now,

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right right? Yeah, you can
just have your people say, mister

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Abraham, what's to clarify statement?
But when he says this, there is

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a follow up question later and this
reporter in fact, we'll get to this

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in a second. If you're in
that room and you're his staff, and

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there's a video, I didn't grab
this Tony Blinken, the beleaguered and corrupt

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secretary of State. When Biden says
that, Blincoln closes his eyes and exhales,

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I guess he goes. And you're
looking next to him, there's the

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deeply conflicted Lloyd Austin and some other
people and their faces either go blank or

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like shut their eyes or that slow
exhale of he just called Trump vice president.

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Now, this is funny, And
tell you get to the war room

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scenario. No, that's what I
was gonna say. What are your thoughts

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sitting in that room? Man?
Hand that man the nuclear football right right?

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And it's this. You're in the
Situa wait room. You have a

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five minute decision, And this is
pretending the figure head runs things, fire,

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keeps people warm. What, oh, I meant higher than put the

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camera. H You can look past
this or you can focus on it for

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what it is. Who's running things? You know? I I mean,

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is it just in my looking at
it from the outside, I've just assumed

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that it's just kind of the deep
state doing their thing. You know what

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I mean? I do too,
So who's the deep state them? You

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know, it's just the the entrenched
powers that be, the right shadow government

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deep state. And we'll talk.
I'm going to talk. I'm going to

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show next week about that's inspired by
that thought. Here's the thing that my

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wife and I were kind of war
gaming in the kitchen. She said to

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me, why do they just go
to Biden and say, look, we've

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got the goods on you. You
know, we've got the FBI stuff.

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We're going to go full black.
We're gonna just blast you out if you

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don't step aside. And I said
to her, Oh, okay, they

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could do that. Then guess what
happens. The Chinese Communist parties intelligence services

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goes to them and says, are
you going to take our guy out?

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Let's have a little sit down,
and Nancy Pelosi. Here's some pictures of

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your husband. This is some video
we have. They sit down with other

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people who are in the DNC and
say so about those bank transfers and the

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money we've been giving your kids.
So are we gonna like, do you

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really want to take our guy out? That's where this gets very very serious,

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because do you think there's a constitutional
order with a deep state? Do

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you think there is an org?
Charte? Clearly not? Okay, So

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in that war room scenario, we've
got this decrepit mentally and I'm not I

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don't intend to be cruel, just
being accurate. Yeah, it's mister president.

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Make the call, good doc,
let me call Bo. Rush Bo

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might be there. Yeah, I'm
sure he is. Well, No,

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the other day I saw him petting
and an imaginary dog on stage, you

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know, right right, I know, I know. So the reporter a

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00:12:01,960 --> 00:12:15,159
reporter follows up on that comment about
calling Trump VP. Watch this Vice President

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Harris as Vice President Trump. Right
now, Donald Trump is using that to

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mock your age and your memory.
How do you combat that criticism? From

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tonight? Here comes a kill shot. Now, Biden's been a politician's whole

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life. Wait, wait till you
get the kill shot, Zach, listen

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to the kill shot. Figure has
done his grin lives your brain, takes

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over, turns his head to the
left, puts his hand back on the

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podium. Now he's gonna okay,
Oh you're gonna make me do it.

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Okay, I'll light you up.
Ready, Oh, here we go.

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Listen to him. This is tonight's
press conference. Thank you everybody. Thanks

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everyone. Wow. Yeah, what
a what a sound? Right? Like?

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What a return? I listened to
Trump? Yeah, I don't so.

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The interesting thing that you brought up
is I hadn't really thought on that

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angle about leverage or something. The
one thing I had thought, though,

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is that he's got Like, in
my mind, I was thinking that he

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has something on somebody or a bunch
of people, because this whole thing doesn't

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make any sense. The fact that
he's still in at this point, I

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mean, he's out. I don't
there's I didn't think. I didn't think

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that he'd end up being on the
ticket. A year and a half ago,

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I was in Washington, d C. For about three months. That's

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00:13:39,759 --> 00:13:45,159
three months too long. Yeah,
three months in and I had gotten an

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agreement from Michael Steele before he went
insane that I had P and L control

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full stop or Digital higher fire full
stop. I had vendor selection full stop.

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No one could butt in. I
was forced to take on one must

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00:14:00,559 --> 00:14:03,480
hire and Michael said, if you
don't, you don't, I'll find some

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00:14:03,960 --> 00:14:07,600
form I'm asking you to. And
it turned out the guy actually had skills

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00:14:07,600 --> 00:14:11,320
I needed, so it actually was
a blessing and he did a really very

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00:14:11,360 --> 00:14:13,440
good job. It was like his
data dollar or something like that. Yeah,

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00:14:13,480 --> 00:14:16,720
yeah, I gotcha. Now he's
been at Facebook for fifteen years.

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00:14:16,720 --> 00:14:22,159
He's a very successful, very smart
guy, very capable man. So I'm

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there three months I made this decision, We're going to hire these two vendors

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to build a web platform. Everybody
thought we were building a website. We

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were building an interactive platform with an
API set so any developer could build an

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app on our website. That's why
they destroyed it later. We've spent all

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that money so anybody could build a
go to Victory app, a voter contact

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app, and interact with a voter
database. After we left, they destroyed

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the code. They burned it.
They literally said we want ever scrap of

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it taken out. One and a
why because I took money away from vendors,

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because when we started to build this, we had vendors come over and

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go, wait, we build a
home call from home app. I go,

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right, and you charge this one
hundred thousand bucks a month to have

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it. I'm going to get a
hall from Home map for free and it's

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going to be better. So I'm
in there three months. That's what we

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were building. That's ultimately what we
build. Even Mother Jones gave us credit

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for being better than the DNC.
It was a weird thing. Three months

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00:15:11,759 --> 00:15:16,919
in I made this decision. Here's
the vendors and the guy who had is

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00:15:16,960 --> 00:15:18,759
he's in prison. Now this guy, by the way, he'd gotten a

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00:15:18,840 --> 00:15:24,200
promise in DC from the committee he
would be the vendor. He came back

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00:15:24,360 --> 00:15:28,519
furious from a trip and I'm up
in the leadership meeting and there's a knock

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on the door and it's one of
my deputies. And I realized it's one

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of my deputies interrupting the leadership meeting. I'm like, what are you doing?

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00:15:35,799 --> 00:15:39,279
He goes, I'm sorry, I'm
mister chairman leadership. I'm sorry,

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00:15:39,720 --> 00:15:43,159
Todd, I need to see you. I go we are in a leadership

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meeting. This is serious. I'm
sorry, I'm mister chairman. I'm sorry.

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And Michael is like, you interrupted
my meeting, and I said,

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Chairman, I'm sorry. This guy
never does this. I go down stairs.

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I'mlcob, what are you doing?
I go. You know how Michael

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00:16:00,039 --> 00:16:06,519
gets about this. He goes Todd
blank is downstairs and he's threatening to destroy

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the whole place. So I go
downstairs. I walk in. Here's this

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guy and his lawyer brother and he
says, I was told no questions asked.

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I had this contract you, I
said, an outsider, come in.

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00:16:22,639 --> 00:16:25,120
I'm telling you, I'm doing this
for your own favor, for your

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00:16:25,120 --> 00:16:30,360
own good. Reputations are currency here. I would hate for people to find

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00:16:30,360 --> 00:16:34,039
out that you have a bad reputation, that you are a turncoat. So

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I said, oh, well,
I appreciate you looking out for me.

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00:16:37,679 --> 00:16:41,080
You know, when I rose to
have a title of a global GM at

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Microsoft, I certainly never had to
play internal politics for someone who'd stabbed me

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00:16:44,399 --> 00:16:47,159
in the back. For instance,
I never had to, let, say,

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00:16:47,240 --> 00:16:49,799
position one of my bosses to be
taken out. And I would hate

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00:16:49,799 --> 00:16:53,519
for someone to find out that you
have been in India going around saying that

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00:16:53,559 --> 00:16:57,679
you built Barack Obama's website and platform, and that you're a Democrat. And

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00:16:57,720 --> 00:17:00,879
I'd hate for people to find out
that you've been taking money from Democrats to

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00:17:00,919 --> 00:17:04,720
talk about Republican technology. I'd really
hate for that to come out. And

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00:17:04,759 --> 00:17:07,599
then his brother, the lawyer,
says, are you saying? I said,

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00:17:07,640 --> 00:17:10,480
I'm saying what I'm saying. So, man, I'm really sorry.

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00:17:10,960 --> 00:17:15,480
I'd hate for that to come out. Are we clear? And Zach,

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00:17:15,559 --> 00:17:21,799
this is three months in. This
is a website build. This is maybe

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00:17:21,839 --> 00:17:30,440
a couple million bucks. We're talking
here about a trillion dollars, yeah,

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00:17:30,880 --> 00:17:33,880
or more. Yeah, so that
wargame. Think about it this way.

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00:17:34,200 --> 00:17:38,920
You know what people would do Pfizer, big money, people who don't have

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00:17:40,000 --> 00:17:44,079
your morals for big money. Think
about who has everything and anyway, that's

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00:17:44,079 --> 00:17:45,960
why it's not an easy thing to
get rid of this, guys. That

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00:17:45,960 --> 00:17:49,200
makes sense. Yeah? No,
Well, and like I said, you're

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you know the Chinese comments. You
know, who knows at the end of

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00:17:53,640 --> 00:18:00,640
the day, but they resonate just
because you're looking at this. I can't

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00:18:00,640 --> 00:18:02,960
even believe we're having it. Every
time I have this conversation, I kind

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00:18:02,960 --> 00:18:04,039
of have to pinch my not pinch
myself, in a good way. But

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00:18:04,240 --> 00:18:07,720
you're sitting there going, wait,
wait a second, this is a debate,

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00:18:07,079 --> 00:18:11,880
right, Like I was reading a
doctor analysis of it, and he

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00:18:11,880 --> 00:18:14,359
goes, this whole thing is ridiculous. The guy's got Parkinson's. I could

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00:18:14,359 --> 00:18:17,079
diagnose him from across the mall.
Yeah, you know. And he's like,

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00:18:17,079 --> 00:18:19,359
it's it, plain is day,
right, And we're playing this game

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00:18:19,839 --> 00:18:23,839
where we're still trying to pretend that's
not the case, right, I mean,

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00:18:23,960 --> 00:18:29,240
it's just And my immediate thought is
what does he have on people?

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00:18:29,640 --> 00:18:33,640
Right? Like he's got bo has
the Chinese Communist Party. We bought that

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00:18:33,759 --> 00:18:37,160
seat, We owned that office,
not bow Hunter has it. Yeah,

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00:18:37,200 --> 00:18:41,359
we own that office. I mean. And when you have cozied your life

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00:18:41,480 --> 00:18:45,559
up next to the Chinese Communist parties, intelligence services, and god knows who

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00:18:45,599 --> 00:18:51,000
else Zelensky, you think Zelensky doesn't
come over here and demand money and get

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00:18:51,000 --> 00:18:55,640
money. You think there's a reason
for that. He has people figured out.

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So there's We're gonna skip ahead a
little bit. I mean, I

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00:18:57,400 --> 00:19:00,720
know people watch the press conference.
In the big of a conference, there's

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00:19:00,759 --> 00:19:03,839
a couple of things you need to
see, But man, I really wanted

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00:19:03,839 --> 00:19:07,240
to get into some of this financial
stuff with you because I think it's very,

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00:19:07,279 --> 00:19:10,839
very very important. I got yet
another note and i'll get this image

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00:19:10,880 --> 00:19:15,039
to you next week. A guy
had a Mercedes SUV and it looks like

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00:19:15,079 --> 00:19:19,279
a really really beautiful ride in his
garage, I think, he said,

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00:19:19,640 --> 00:19:23,240
He said, for a long long
time, twelve months or something, or

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00:19:23,400 --> 00:19:29,400
lim me longer, and hadn't opened
it. He got the oxy leaf two

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00:19:29,599 --> 00:19:33,519
thunderstorm devices, four of them,
put them in his car and in he

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00:19:33,599 --> 00:19:37,000
said, forty eight hours it smelled
like a rainforest. Now, I don't

284
00:19:37,000 --> 00:19:41,000
know about you. I had a
Jaguar that was garage for a long time,

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00:19:41,079 --> 00:19:45,240
probably a year, and cars build
up stink. There are going to

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00:19:45,279 --> 00:19:47,680
be your cabins. There's going to
be places like dorms, like I'm that

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00:19:47,720 --> 00:19:51,240
thing's coming out of the wall when
I go and I with these high school

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00:19:51,240 --> 00:19:53,400
boys. Yeah, it's that little
box over there. I'm taking that with

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00:19:53,480 --> 00:19:56,799
me to be in this room with
ten junior high boys because it's going to

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00:19:56,880 --> 00:20:00,400
keep the air fresh. I want
our cabin to be nice. You can

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00:20:00,440 --> 00:20:02,640
have this in your home. You
do not need to have stink. If

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00:20:02,680 --> 00:20:04,599
you've smoked, gosh, please stop. If you have pets and cats.

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00:20:04,640 --> 00:20:08,920
Please eat them. No, I'm
sorry, no, please, please please

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00:20:08,920 --> 00:20:11,960
clean the litter boxes. But if
you'd like to not clean the litter boxes,

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00:20:12,200 --> 00:20:15,200
just put an ox you leaf too, thunderstorm mix it. You never

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00:20:15,240 --> 00:20:17,960
need to clean the little box.
Your pat cats can urinate all over your

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00:20:17,960 --> 00:20:22,160
home and no one will know.
Go to eatingpuer deals dot com enter code

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00:20:22,200 --> 00:20:26,480
Todd three uh, and I'll save
you two hundred bucks whole home coverage three

299
00:20:26,519 --> 00:20:30,200
of these advices for undertooer box.
It's eatingpuerdeals dot com. Use code Todd

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00:20:30,200 --> 00:20:32,960
three. You ever see the videotape
where they take the cars like up to

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00:20:32,960 --> 00:20:34,920
the Arctic and they're driving around like
on ice tracks and stuff. Oh yeah,

302
00:20:34,960 --> 00:20:37,799
like the most that's the equivalent of
this thing. This thing's never been

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00:20:37,839 --> 00:20:42,400
tested like this cab or ten eleven
year old boys. I mean, my

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00:20:42,480 --> 00:20:48,759
thought is you better take two,
right, Okay, I've got eleven year

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00:20:48,759 --> 00:20:49,799
old boys. Okay, I'm just
telling you all right, Well, then

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00:20:49,839 --> 00:20:53,279
we'll make this a major, major
test for the oxy Leaf two. So

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00:20:53,680 --> 00:20:59,119
we're skipping ahead for a couple of
things, but one is Biden at one

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00:20:59,160 --> 00:21:03,599
point said, you know, I'm
following the orders of my commander in chief,

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00:21:04,759 --> 00:21:10,039
well, he probably is because Barack
Obama is still probably stirring things in

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00:21:10,039 --> 00:21:12,319
the background. He made a point
that he'd been given a list of people

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00:21:12,319 --> 00:21:17,440
to call on. He had the
names, meaning those people agreed to ask

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00:21:17,440 --> 00:21:19,880
specific questions. There's no other way
you get on that list. Oh yeah,

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00:21:21,079 --> 00:21:23,400
right. Peter Doocey is surprised he
didn't get called on. There is

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00:21:23,480 --> 00:21:29,039
this moment it's Biden seven, which
is not on my list. But he

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00:21:29,240 --> 00:21:33,160
actually a reporter said, you said, you called this guy president? Or

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00:21:33,759 --> 00:21:37,160
how can you say a bit for
the job, given the limitations you've acknowledge

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00:21:37,200 --> 00:21:38,880
you have it? He goes limitations
and he goes on to this, Well,

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00:21:38,920 --> 00:21:41,279
I have to go to bed earlier. But this is the thing I

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00:21:41,319 --> 00:21:47,720
needed you to see. This is
something that Trump posted on social media,

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00:21:48,519 --> 00:21:55,319
and it is it's George Clooney from
his role where he was an actor and

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00:21:56,200 --> 00:21:59,640
he was a guy who went around
firing people. Now watch this and are

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00:21:59,720 --> 00:22:03,359
listening this. This is so so
well done. President Trump posted this on

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00:22:03,400 --> 00:22:07,559
social media. So although I wish
I were here with better news, the

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00:22:07,640 --> 00:22:12,480
fact is that you and I are
sitting here today because this will be your

325
00:22:12,559 --> 00:22:18,119
last week of employment. This is
not an assessment of your productivity. You're

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00:22:18,119 --> 00:22:22,480
going to try not to take this
personally. Well, I just had a

327
00:22:22,480 --> 00:22:30,839
bad name. That's so good?
Is that perfect? So good? Guys?

328
00:22:30,920 --> 00:22:33,240
They got the looks right and everything. If you're just listening to this,

329
00:22:33,319 --> 00:22:36,839
the link is in the show notes. You can have a seven day

330
00:22:36,839 --> 00:22:38,920
free trial to the video show so
you can see this. It's video dot

331
00:22:38,960 --> 00:22:44,079
the Todd Herman Show dot com.
I something in me? Can we just

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00:22:44,119 --> 00:22:45,680
one more time? Is that self
indulgent? Just can we watch it one

333
00:22:45,680 --> 00:22:48,400
more? Huh? I go?
Yeah, all right. So, although

334
00:22:48,440 --> 00:22:52,920
I wish I were here with better
news, the fact is that you and

335
00:22:53,000 --> 00:22:57,559
I are sitting here today because this
will be your last week of employment.

336
00:23:00,519 --> 00:23:03,640
This is not an assessment of your
productivity. You're going to try not to

337
00:23:03,680 --> 00:23:10,240
take this personally. Well, I
just have a bad none. I like

338
00:23:10,480 --> 00:23:11,559
I always, Well, how do
people think of this? Like? Who

339
00:23:11,599 --> 00:23:15,480
came up with that? You know
what I mean? Oh, that's someone

340
00:23:15,640 --> 00:23:18,720
has a ton of talent and recall, and I bet you there's gonna be

341
00:23:18,799 --> 00:23:22,720
more. It's quick and in a
way, you know, it could backfire

342
00:23:22,759 --> 00:23:26,200
because it gives you a little bit
of sympathy for the guy because if you've

343
00:23:26,200 --> 00:23:30,880
ever had that conversation of we're gonna
need you to let you go because are

344
00:23:30,920 --> 00:23:33,119
not, and you know, having
being on the other side, it's not

345
00:23:33,160 --> 00:23:34,440
a fun thing to set someone down
and say we're gonna let you go,

346
00:23:34,960 --> 00:23:37,880
right. That's why I never do
it. I just walk in and go,

347
00:23:37,039 --> 00:23:42,720
well, you know right, you
know where we're here. So this

348
00:23:42,839 --> 00:23:48,799
is getting into the financial stuff.
How much would you how much do you

349
00:23:48,839 --> 00:23:53,640
pay consultants? And what do you
think of consultants like McKinsey and Company and

350
00:23:53,720 --> 00:23:57,960
Deloitte Intuition. They come in and
they do these these reports for government and

351
00:23:59,000 --> 00:24:00,880
for business, Like much would you
pay, for instance, to figure out

352
00:24:02,039 --> 00:24:08,559
if trash cans work? Well,
I mean I've got a whole preponderance of

353
00:24:08,599 --> 00:24:15,480
evidence that they do. I use
them all the time, so I probably

354
00:24:15,519 --> 00:24:19,599
not much, all right, Yeah, four million bucks? This is the

355
00:24:21,079 --> 00:24:30,880
Eric Adams paid McKinsey and Company four
million dollars to study whether trash cans work.

356
00:24:30,599 --> 00:24:33,000
Yeah. I would just immediately be
like, which one of his kids

357
00:24:33,119 --> 00:24:37,839
or family members works for whoever he
hired Doug. I mean, like it,

358
00:24:37,960 --> 00:24:44,480
come on, if people understood the
hooks right that these companies have into

359
00:24:45,160 --> 00:24:48,720
these when I was at Microsoft,
I had this proposal, wild proposal.

360
00:24:49,240 --> 00:24:56,440
Let's take our website MSN. Let's
view it as an operating system. Let's

361
00:24:56,559 --> 00:25:00,200
let people build apps for it,
like open so open source. Yeah,

362
00:25:00,279 --> 00:25:03,839
yeah, that's a great idea.
Actually, and this happened because I walked

363
00:25:03,839 --> 00:25:07,599
into a room one day there was
a meeting and it was our room next

364
00:25:07,640 --> 00:25:11,160
and there's this thing where a lerk
outside the window. You give people like

365
00:25:11,240 --> 00:25:14,039
five ten minutes grace, and then
you need the room and then you it's

366
00:25:14,119 --> 00:25:17,519
kind of it's culturally okay to open
the door. Yeah you're polite, but

367
00:25:17,519 --> 00:25:18,640
you're letting them know you're there,
right, You're looking through the window.

368
00:25:18,880 --> 00:25:21,559
And then you open the door and
I say, hey, you know,

369
00:25:21,640 --> 00:25:25,920
I'm so sorry to interrupt. We
do have the room, and oh sorry

370
00:25:26,000 --> 00:25:26,839
I always saw you lurk, and
we'll get out. We go, Hey,

371
00:25:26,839 --> 00:25:30,119
what are you working on? Oh? Gas calculator? Oh cool,

372
00:25:30,200 --> 00:25:33,319
like you're going to put one on
this page. No, we're building one,

373
00:25:33,440 --> 00:25:36,480
a gas price calculator. Oh well
you know there's a ton of those.

374
00:25:36,519 --> 00:25:40,559
Oh I know, but we're building
a better one. Twenty people in

375
00:25:40,599 --> 00:25:45,000
a room at Microsoft instead of just
saying, hey, if you have a

376
00:25:45,000 --> 00:25:49,559
gas price calculator, put it on
our website and we'll give you a share

377
00:25:49,559 --> 00:25:55,279
of ad Moneys. So I just
write this proposal and it gets viewed a

378
00:25:55,319 --> 00:25:57,480
lot of people like it. And
you know what the response was, we'll

379
00:25:57,519 --> 00:26:03,519
have Deloitte study this, and they
came in and I found out it was

380
00:26:03,559 --> 00:26:07,960
a five million dollar review when what
we could have done is set up a

381
00:26:08,400 --> 00:26:15,640
subsite of MSN and tested it for
about a million bucks. But a gas

382
00:26:15,680 --> 00:26:21,359
price calculator, a gas price like
trying to predict gas now finding out where

383
00:26:21,400 --> 00:26:26,160
the good gas was available, Like
where's the cheapest gas near you? I

384
00:26:26,200 --> 00:26:29,400
know, I know, I know. So these these companies are so tied

385
00:26:29,440 --> 00:26:33,599
into this. Now this is you
alone are going to respond to this.

386
00:26:33,640 --> 00:26:37,720
I'm going to show you this image
you were all over boweling early on warning

387
00:26:37,759 --> 00:26:41,480
about them. This is Sean M. Davis from the Federalist. And if

388
00:26:41,480 --> 00:26:45,480
you throw that image up there,
they find Donald Trump two times more for

389
00:26:45,519 --> 00:26:48,359
accurately praising the market value his home
than Boeing got fined for killing people.

390
00:26:48,799 --> 00:26:55,880
Boeing agrees to plead guilty to criminal
fraud conspiracy charge related to fatal seven thirty

391
00:26:55,920 --> 00:26:59,400
seven Max Crishes twenty eighteen, twenty
nineteen, agrees to pay a two hundred

392
00:26:59,400 --> 00:27:03,160
and forty three three point six million
dollar fine. Just let me just shut

393
00:27:03,240 --> 00:27:08,359
up and have you just do what
you do. I took a lot of

394
00:27:08,400 --> 00:27:14,079
flak for this back in Let's see, it was March. No, it

395
00:27:14,119 --> 00:27:18,759
was March first, twenty nineteen.
I remember the day. Yeah. And

396
00:27:18,680 --> 00:27:25,000
the thing that's so frustrating about this
is that it was so easy to spot

397
00:27:25,039 --> 00:27:27,279
if you just looked, like you
know, and I'm not going to try

398
00:27:27,279 --> 00:27:32,359
to tee this up like I'm some
luminary that knew the few. All you

399
00:27:32,400 --> 00:27:33,960
had to do is look. All
you had to do is look. You

400
00:27:34,039 --> 00:27:38,039
realize that the first of all,
a company like Boeing at their peak was

401
00:27:38,039 --> 00:27:41,400
trading at thirty to thirty five times
earnings, which is a joke when you

402
00:27:41,440 --> 00:27:45,640
look at their margins, you look
at the costs. And then the whole

403
00:27:45,720 --> 00:27:49,079
narrative was what got us, what
got us teed off on it was the

404
00:27:49,200 --> 00:27:53,599
narrative was, oh, but they're
more profitable now, they're more profitable now,

405
00:27:53,759 --> 00:27:57,119
And you're sitting there going wait a
second, wait a second, if

406
00:27:57,160 --> 00:28:02,880
they're that more pro if they're that
much more profitable. Right Now, What

407
00:28:02,960 --> 00:28:07,880
that means is that every management team
that came prior to this management team are

408
00:28:07,920 --> 00:28:11,400
complete idiots, right because when you
think about what but what it takes for

409
00:28:11,559 --> 00:28:18,160
Boeing to you know, source material, it's just a low it's just a

410
00:28:18,160 --> 00:28:22,680
low margin business, period, right, And so there's just not fluff there

411
00:28:22,720 --> 00:28:25,480
to cut like, there's a lot
of fluff. But you know, you're

412
00:28:25,519 --> 00:28:29,119
dealing with you're dealing with unions.
And when you looked at Boeing, nothing

413
00:28:29,279 --> 00:28:33,359
structurally had changed. What you had
to believe is that these guys, all

414
00:28:33,400 --> 00:28:36,440
of a sudden, had just made
this company. We're you know, like,

415
00:28:36,880 --> 00:28:38,960
well we're no longer the old Boeing, We're no longer the old industrial

416
00:28:40,000 --> 00:28:41,799
company. Now we're a high profit
machine. And you're sitting there going,

417
00:28:41,799 --> 00:28:45,279
wait, something doesn't add up here, right, because it just doesn't happen

418
00:28:45,279 --> 00:28:48,359
all of a sudden. You don't
take a company that big, that mature,

419
00:28:48,359 --> 00:28:49,599
and all of a sudden, they
don't change business, they don't offer

420
00:28:49,640 --> 00:28:52,799
new products. But now all of
a sudden, they you know, they're

421
00:28:52,839 --> 00:28:56,480
making twice the margin on their airplanes. And whenever you see something like that,

422
00:28:56,599 --> 00:29:00,079
especially with an industrial company, there's
an old ad of just stripping the

423
00:29:00,119 --> 00:29:04,279
plane ironically right, stripping the airplane
right to get max fuel. We're throwing

424
00:29:04,319 --> 00:29:08,559
out all the stuff, and that
was my first hunt. So we started

425
00:29:08,559 --> 00:29:14,559
looking into it and you're like,
these guys are stripping the plane literally and

426
00:29:14,599 --> 00:29:18,559
they're cutting corners. So then we
started talking to employees that work there and

427
00:29:18,599 --> 00:29:23,079
they're like, oh yeah, they
go they're cutting corners. We're not doing

428
00:29:23,079 --> 00:29:27,240
this. They ran me through.
I was in twenty nineteen when we did

429
00:29:27,240 --> 00:29:32,720
the show. I was on there
talking about how you know, Boeing is

430
00:29:32,799 --> 00:29:37,640
the basically the forefather of redundancy,
right, double and triple redundancy and everything.

431
00:29:37,680 --> 00:29:41,279
That's like they're claim to fame.
That new mcast system that they put

432
00:29:41,279 --> 00:29:45,759
in on the seven thirty seven Max. They sold it with one input,

433
00:29:45,240 --> 00:29:48,759
so it's not a pedo tube,
but it's like a pedo tube where it's

434
00:29:48,799 --> 00:29:52,599
collecting air speed and stuff like that. They it only had one input,

435
00:29:53,000 --> 00:29:56,000
and I remember looking at the engineer
and I go, wait, hold on

436
00:29:56,039 --> 00:30:02,359
a second, what if that goes
What is there anything else they've ever done

437
00:30:02,440 --> 00:30:07,759
that doesn't have redundancy? And how
do you not have redundancy on a program

438
00:30:07,039 --> 00:30:12,880
that is meant to uh, basically
compensate for the lack of aerodynamics. Right.

439
00:30:14,000 --> 00:30:17,039
So because the only reason they did
the seven thirty seven max is because

440
00:30:17,039 --> 00:30:18,920
they didn't have to design a new
airframe, right, and so they could

441
00:30:18,920 --> 00:30:22,400
retrofit it basically. But then they
had to put the MCAST system on there

442
00:30:22,680 --> 00:30:26,599
to compensate for the behavior, right, the changes because they had to move

443
00:30:26,640 --> 00:30:30,079
the wings back to put on bigger
engines and all this kind of stuff.

444
00:30:30,279 --> 00:30:37,119
And you're sitting there a way so
that that program that they designed to compensate

445
00:30:37,279 --> 00:30:44,079
for the inefficiencies or the change in
behavior in which the plane flies only has

446
00:30:44,240 --> 00:30:48,519
one input, you know, and
you're just and I remember just being blown

447
00:30:48,559 --> 00:30:52,200
away, going if you have you
know, anything like an airplane for people

448
00:30:52,200 --> 00:30:56,640
that don't, if you have no
redundancy, it will fail. It will

449
00:30:56,640 --> 00:31:00,720
fail. Yeah, right, and
and and things fail on planes all the

450
00:31:00,720 --> 00:31:03,240
time. But they've got double in
triple redundancy. It's not a big deal.

451
00:31:03,240 --> 00:31:07,400
You wouldn't even notice it, right, And so we start going through

452
00:31:07,400 --> 00:31:11,160
and you start looking at you know, they're talking about, oh, we're

453
00:31:11,200 --> 00:31:15,279
increasing profits. It was all cost
to ferments. They were throwing out maintenance

454
00:31:15,359 --> 00:31:21,000
costs. They were telling me how
they were finding broomsticks that we'd been left

455
00:31:21,039 --> 00:31:25,240
behind in the tail rudder. That
was what put that plane into Turtle Bay.

456
00:31:25,559 --> 00:31:27,079
Oh okay, I don't know that
it was a broomstick, but it

457
00:31:27,119 --> 00:31:30,119
was that tail rudder. Yeah.
That the mechanics came back later and said,

458
00:31:30,160 --> 00:31:33,480
oh, we've been taping these things
together. Yeah yeah. And then

459
00:31:33,519 --> 00:31:37,400
there's this and so this is another
image. And this is why memes are

460
00:31:37,519 --> 00:31:42,599
actually very helpful, because this puts
society and government into a huge spotlight.

461
00:31:42,920 --> 00:31:47,640
Look at this from way of the
world. Buying gets find less over the

462
00:31:47,680 --> 00:31:49,920
desks of three hundred and forty six
people than Alex Jones got five for saying

463
00:31:49,960 --> 00:31:55,640
things. Yeah. Yeah. Now
it's a different court. And Jones was

464
00:31:55,680 --> 00:32:00,359
wrong about the school shootings grievously slow, so I think he almostly harmed people.

465
00:32:00,400 --> 00:32:07,440
I know he did a billion bucks. Look it's it's it's like regulators

466
00:32:07,480 --> 00:32:10,240
in general, and and I don't
need any beef with any regulators out there,

467
00:32:10,279 --> 00:32:17,079
So I'm not trying to take personal
shots here, but they don't when

468
00:32:17,119 --> 00:32:22,240
you talk about the big boys,
and and you know, this kind of

469
00:32:22,680 --> 00:32:24,880
was right along the same lines that
we're going to talk about or what all

470
00:32:25,000 --> 00:32:30,640
I was going to talk about with
h HSBC. But but the the issue

471
00:32:30,640 --> 00:32:37,200
here is that if they really go
after them hard, it's almost like the

472
00:32:37,240 --> 00:32:40,920
regulators and situations like this are part
of the company. Well saying remember this

473
00:32:42,440 --> 00:32:47,599
that the they signed off of the
FAA let Boeing regulate itself. They did.

474
00:32:47,680 --> 00:32:51,119
The FAA said we'll let bow and
regulate itself. All right, We're

475
00:32:51,119 --> 00:32:54,799
gonna shift into chart of palooza with
Zach because Zach is kind of bted some

476
00:32:54,880 --> 00:32:58,720
charts. We do need to talk
about HBC. It's actually in the show

477
00:32:58,799 --> 00:33:00,599
notes or the show titles. We
need to do that, and I'm looking

478
00:33:00,640 --> 00:33:06,000
forward to that. You brought us
a whole bunch of charts and we can

479
00:33:06,039 --> 00:33:07,799
go through this. We can start
with HBC. You seem to think HBC

480
00:33:07,920 --> 00:33:10,799
is a pretty important story, HBC
bank. Can you under to start there?

481
00:33:12,119 --> 00:33:16,720
Yeah, So this really gets to
something that we're trying to touch on

482
00:33:16,839 --> 00:33:22,920
all the time, which trying to
get people to understand that the economy is

483
00:33:22,960 --> 00:33:25,960
not what you think it is,
that the financial system is not what you

484
00:33:27,000 --> 00:33:32,759
think it is, that it's so
much more contrived and so much more I

485
00:33:32,759 --> 00:33:37,160
don't want to use the word artificial
is not I mean it is artificial,

486
00:33:37,200 --> 00:33:43,279
but it's it's so much more centrally
planned. Right. And one of the

487
00:33:43,319 --> 00:33:46,880
ways that you can look at that
is look at HSBC and look at the

488
00:33:46,920 --> 00:33:57,160
horrible things that they've been associated with. HSBC has basically single handedly helped the

489
00:33:57,319 --> 00:34:01,200
Mexican or excuse me, not just
Mexican, but the drug cartels become extraordinarily

490
00:34:01,240 --> 00:34:07,719
more profitable, has HSBC HSP Yeah. And the way that they've done that

491
00:34:08,119 --> 00:34:15,280
is through being loosely affiliated with a
series of launderers, financial launderers, you

492
00:34:15,280 --> 00:34:20,199
know, mostly based out of China, right, and then some operating inside

493
00:34:20,239 --> 00:34:24,039
the US. And they've they have
gotten it down. The efficiency levels that

494
00:34:24,079 --> 00:34:29,320
they've gotten down to a pretty remarkable
meaning they're laundering cartel money for one to

495
00:34:29,400 --> 00:34:35,320
two percent, one to two percent, which tells you how wide spread it

496
00:34:35,360 --> 00:34:39,440
is, right, Okay, I'm
sorry. A home loan for a working

497
00:34:39,480 --> 00:34:45,559
American is what percent right now?
Three? Four? Oh, no,

498
00:34:45,440 --> 00:34:47,760
no, no, seven, seven, somewhere like that. A home loan

499
00:34:47,920 --> 00:34:53,400
for a working American system is seven
percent. The home is collateralized, and

500
00:34:53,440 --> 00:35:00,800
the drug cartels are getting launder paying
one percent to have money laundered. Yeah,

501
00:35:00,880 --> 00:35:06,400
to clean it as clean as a
whistle baby, and and and they

502
00:35:06,440 --> 00:35:10,320
know this, yes, and HSBC
is basically enabling that. But it brings

503
00:35:10,400 --> 00:35:15,199
up It gets to a point where
you sit there and you go, if

504
00:35:15,239 --> 00:35:19,920
you have a bank that operates in
one hundred different countries, who do they

505
00:35:19,920 --> 00:35:22,360
answer to? Shadow government? Question? Is there an org chart? Who's

506
00:35:22,400 --> 00:35:27,480
in control? And right? Who? Yeah? Who has to who holds

507
00:35:27,519 --> 00:35:31,320
maduciary duty? And to whom?
Yeah? Nobody? Right? Who's their

508
00:35:31,400 --> 00:35:35,800
loyalty to? Right? What?
What system of regulations they adhere to?

509
00:35:36,119 --> 00:35:37,599
None? Right? I mean,
they're just open to the biggest bidder.

510
00:35:37,840 --> 00:35:42,119
And that's one of the biggest problems
when I'm banging on you know, these

511
00:35:42,199 --> 00:35:45,800
huge companies that are all MultiNet like. It's just it's just an observation of

512
00:35:45,840 --> 00:35:50,800
fact, which is, when you
get to that size, you are by

513
00:35:50,880 --> 00:35:57,000
definition a you're you're a risk.
You're you're a geopolitical risk for that government,

514
00:35:57,079 --> 00:36:00,239
right, just because you're not beholden
to them. Okay, you just

515
00:36:00,239 --> 00:36:05,039
answered your own question again about why
they can't go to Biden. Biden's family

516
00:36:05,440 --> 00:36:07,800
was worth one hundred and fifty million
dollars on more of these guys. Now

517
00:36:07,800 --> 00:36:10,519
that's chump change to the Chinese companies
party. But it's not something they're going

518
00:36:10,599 --> 00:36:14,000
to let go. You know this, and I know this. When you're

519
00:36:14,039 --> 00:36:17,880
in the business of thuggan it doesn't
matter if it's fifty bucks or five million

520
00:36:17,920 --> 00:36:22,000
bucks, you're gonna get paid.
Yep. Because you let fifty bucks go.

521
00:36:22,559 --> 00:36:24,840
Now you develop a reputation as a
guy who lets something go right right,

522
00:36:24,920 --> 00:36:28,920
and that breaks away that is not
well I'm sorry, yeah, but

523
00:36:29,119 --> 00:36:31,920
HSBC, according to you, we
are analysis. They have a reputation.

524
00:36:32,000 --> 00:36:37,480
They've said lois bid intown, you're
cartelling. This would mean not just drug

525
00:36:37,519 --> 00:36:39,880
money, because the cartel's funny thing. They don't just do drugs, they

526
00:36:39,920 --> 00:36:43,800
do sex trafficking. Yeah. Well, and HSBC was at the heart of

527
00:36:43,840 --> 00:36:45,679
the Panama Papers, remember when that
came out, the Panama Papers, And

528
00:36:45,719 --> 00:36:51,000
so I anyway, there's there's there's
some really interesting documentaries that you can find

529
00:36:51,000 --> 00:36:54,239
on HSBC on YouTube. But I
think and and you know, we could

530
00:36:54,239 --> 00:36:59,119
probably sit here and go on about
HSBC for two hours. But people really

531
00:36:59,159 --> 00:37:06,800
need to understand that the so much
of this is contrived and controlled and it's

532
00:37:06,920 --> 00:37:09,480
not what you think it is that
the winners are getting picked, you know.

533
00:37:09,920 --> 00:37:15,239
And and you look at HSBC,
why doesn't anybody really go after them?

534
00:37:15,639 --> 00:37:20,199
They truly are too big to be
regulated, right, They're too big

535
00:37:20,199 --> 00:37:24,199
to fail because the economic disruption,
that's the whole deal. I need to

536
00:37:24,239 --> 00:37:29,840
get enough liabilities on my balance sheet
to where nobody can yank my chain,

537
00:37:30,199 --> 00:37:32,760
right, And that's the game they're
playing. And if you look at the

538
00:37:32,840 --> 00:37:38,960
consolidation and banks since the financial crisis, right, the only banks that went

539
00:37:39,000 --> 00:37:43,559
out of business have been the banks
that hadn't virtually nothing to do with it

540
00:37:43,639 --> 00:37:47,000
in credible, right. And so
you've just you've literally just built the power

541
00:37:47,840 --> 00:37:52,159
of the banks that caused and facilitated
the whole thing to begin with. That's

542
00:37:52,280 --> 00:37:58,039
that's you, and I've agreed in
the phrase for our Central Bank of conjuring.

543
00:37:58,320 --> 00:38:00,800
Yeah, they talk about two bit. This is from Oilfield Rando in

544
00:38:00,840 --> 00:38:05,199
Twitter, and he's pointing to this
story. This is the Hill story.

545
00:38:06,400 --> 00:38:09,400
Just in prices fell in June for
first time since pandemic. Oh cool,

546
00:38:09,480 --> 00:38:15,440
prices fill and then Oilfield Rando says
this, you get a few paragraphs in

547
00:38:15,480 --> 00:38:19,599
before discovering that prices did not in
fact fall, that the headline is completely

548
00:38:19,599 --> 00:38:23,039
false and the grocery store article picture
is grossly misleading prices and this is from

549
00:38:23,079 --> 00:38:28,000
their own article. Prices in the
Consumer Price Index CORE, which removes the

550
00:38:28,039 --> 00:38:31,440
particularly vaulta categories of energy and food, advanced one tenth of a percent in

551
00:38:31,519 --> 00:38:35,639
June, after climbing two tents of
a percent in May and three tents of

552
00:38:35,639 --> 00:38:37,840
a percent in April. Average,
over the last three months, core CPI

553
00:38:37,920 --> 00:38:43,239
has advanced just one point one percent. Firm and noted food prices increased by

554
00:38:43,239 --> 00:38:45,840
two point two percent annually in June, while energy prices were up by one

555
00:38:45,840 --> 00:38:52,039
point one percent. But the headline
is prices fell in June for first time

556
00:38:52,079 --> 00:38:54,519
since pandemic. We've been talking about
this for a long time too, where

557
00:38:54,519 --> 00:38:59,840
I've been saying, hey, guys, inflation going down means that prices are

558
00:38:59,840 --> 00:39:06,280
still going up. Right, People
better understand this. Yes, it's inflation

559
00:39:06,400 --> 00:39:08,920
is a rate of change. When
it is positive, prices are going up.

560
00:39:09,039 --> 00:39:14,280
It doesn't matter how less positive it
is. Prices are still going up.

561
00:39:14,400 --> 00:39:16,800
You haven't seen a price reduction anywhere, I mean not in mass right.

562
00:39:16,840 --> 00:39:20,079
There have been some things that go
up and down or whatever, but

563
00:39:20,159 --> 00:39:22,840
no, and then they oh,
look, we brought inflation back, and

564
00:39:22,880 --> 00:39:25,519
you're like, man, prices are
still thirty five percent higher than they weren't

565
00:39:25,519 --> 00:39:30,159
twenty nineteen. Pal right, you
know that's and this is the continuing conjuring

566
00:39:30,199 --> 00:39:32,719
of what is, in fact,
I think a faked up economy. There

567
00:39:32,840 --> 00:39:37,679
is. I think that's probably right
now, being faked up in your mind

568
00:39:37,719 --> 00:39:39,920
if you are extra heavy. And
I mean this because I did this to

569
00:39:39,960 --> 00:39:43,800
myself. I have told the story. In fact, I told a friend

570
00:39:43,800 --> 00:39:45,559
about this the other day. When
I was addicted to fast food. We

571
00:39:45,559 --> 00:39:49,679
were talking about addictions, and I
actually opened up and said, yeah,

572
00:39:49,719 --> 00:39:52,440
here's my behaviors. When I was
addicted to fast food. I'm going to

573
00:39:52,360 --> 00:39:57,719
to McDonald's in a row, but
making sure to hide the wrappers and making

574
00:39:57,760 --> 00:40:00,519
fake phone calls. What oh would
you guys want? Oh yeah, okay,

575
00:40:00,599 --> 00:40:02,840
well I'll get that for you.
Hold on my new line. And

576
00:40:02,920 --> 00:40:06,360
so I was. I was a
fat you know, four hundred pounds,

577
00:40:06,760 --> 00:40:08,440
and I was on the phone like
pretending all this food is for someone else,

578
00:40:08,480 --> 00:40:12,039
when in fact, it's my second
stop at McDonald's in like an hour.

579
00:40:12,360 --> 00:40:14,760
I was that much of an addict. But I was telling myself,

580
00:40:15,400 --> 00:40:16,400
I don't know what lies. I
was te messl But my friend said to

581
00:40:16,400 --> 00:40:19,920
me, were you doing that for
you or them? Those lies? I

582
00:40:19,960 --> 00:40:22,159
go, gosh, I actually don't
know. Probably for myself. If you're

583
00:40:22,239 --> 00:40:25,440
extra heavy, there's some lies you're
probably telling yourself. Well, my family

584
00:40:25,559 --> 00:40:30,679
was, and I'm okay, all
right, Really it's not that bad because

585
00:40:30,679 --> 00:40:34,559
I can still walk and do things, and I carry my weight well.

586
00:40:34,599 --> 00:40:37,400
And I'm just big boned. Okay, some of that's true. People do

587
00:40:37,440 --> 00:40:39,280
have big bones. Sometimes it's very
difficult to take off that. But here's

588
00:40:39,320 --> 00:40:43,880
one thing that you probably have because
one hundred million Americans have it. That

589
00:40:43,960 --> 00:40:49,199
is fatty liver. Okay, big
deal. It is a fatty liver is

590
00:40:49,199 --> 00:40:52,480
an inefficient liver. An inefficient liver
cannot properly cleanse your blood and cleanse your

591
00:40:52,519 --> 00:40:57,840
body of toxins. It can't eventually
do that, and it can become liver

592
00:40:57,920 --> 00:41:00,400
disease. Right now, it's causing
you to feels sluggish and slow, and

593
00:41:00,440 --> 00:41:07,119
guess what that makes exercise hard.
People who make liver health formula will help

594
00:41:07,159 --> 00:41:09,119
you with this with a three hundred
and sixty five day money back guarantee.

595
00:41:09,320 --> 00:41:13,400
And every time I talk about their
product, they tell me to tell you

596
00:41:14,280 --> 00:41:15,920
this product should not be something you
take for the rest of your life.

597
00:41:16,440 --> 00:41:22,360
This is something you should take while
you address the core issue of body fat

598
00:41:22,719 --> 00:41:27,000
and this can help with that.
You can go right now to get liverhelp

599
00:41:27,079 --> 00:41:31,320
dot com slash todd. You'll get
two free gifts when you purchase a thirty

600
00:41:31,400 --> 00:41:37,000
day supply. That's get liverhelp dot
com slash todd. Just please don't lie

601
00:41:37,039 --> 00:41:39,360
to yourself like this stuff adds up. There is a cost to carrying that

602
00:41:39,440 --> 00:41:43,880
extra weight. I have paid that
cost. I do understand it. You

603
00:41:43,880 --> 00:41:47,480
know, we should have thought ahead
and created a charter PALOOZAUP music for you,

604
00:41:47,840 --> 00:41:52,360
so this you can kind of walk
on and now from the high mountains

605
00:41:52,400 --> 00:41:55,039
of free America. It's charter to
Polloza. This is a three month correlation

606
00:41:55,199 --> 00:42:00,440
between S and P five hundred and
the number of stocks advancing. So mindful

607
00:42:00,440 --> 00:42:01,960
that a lot of people, most
people are listening, not just watching.

608
00:42:02,440 --> 00:42:06,800
Let's go through this and what this
indicates to you as a guy who steward's

609
00:42:06,920 --> 00:42:09,599
well, my money and that of
a lot of other people. Well,

610
00:42:10,639 --> 00:42:15,719
look, I think that we have
to be very careful not to you know,

611
00:42:15,360 --> 00:42:21,800
there's a difference between assessing conditions and
then drawing conclusions, right, and

612
00:42:22,039 --> 00:42:24,280
we cannot draw conclusions. And I
want everybody to understand that that's not what

613
00:42:24,320 --> 00:42:28,320
I'm doing, because we've never been
here before. So you see this massive

614
00:42:28,400 --> 00:42:30,880
drop, this dot way down at
the bottom. Yeah, on the right

615
00:42:30,920 --> 00:42:35,760
hand side, this correlation between stocks
and a number of sucks advancing. Yeah,

616
00:42:35,800 --> 00:42:39,519
And then you look at the only
other previous mark that is relatable to

617
00:42:39,599 --> 00:42:45,280
that, and it happened right at
the beginning of the two thousands. So

618
00:42:45,320 --> 00:42:49,519
two thousand and two thousand and one. If anybody has even a rudimentary under

619
00:42:50,039 --> 00:42:52,480
or or knowledge of the market,
you'll remember that there was a pretty significant

620
00:42:52,559 --> 00:42:57,199
event that took place at the beginning
of the two thousands. I assume to

621
00:42:57,199 --> 00:43:01,679
remember the tech crash, right,
And so look, I am not saying

622
00:43:01,719 --> 00:43:07,840
that the setup here is different because
so many of those companies back then didn't

623
00:43:07,840 --> 00:43:12,920
even have profits. Okay, so
the difference is here. The companies that

624
00:43:12,920 --> 00:43:17,440
are advancing now they've got extraordinary profits, so they're not the empty suit that

625
00:43:17,480 --> 00:43:22,960
so many of those were. But
the issues it's still a huge issue because

626
00:43:22,960 --> 00:43:28,960
you've got the stock market going up, but the number of stocks going up

627
00:43:29,559 --> 00:43:32,960
is virtually nil. Right, it's
one of the I mean, it's even

628
00:43:34,000 --> 00:43:37,400
worse than it was at the beginning
of the two thousands. So what it

629
00:43:37,480 --> 00:43:42,360
tells you and is this goes right
into what we talk about in our Virtual

630
00:43:42,440 --> 00:43:47,119
roadshow about inflation. Meaning the reason
for this, one of the main reasons

631
00:43:47,159 --> 00:43:52,159
for this is the passive investing craze. And when I say passive investing,

632
00:43:52,440 --> 00:43:54,960
what I mean is people are buying
the S and P five hundred, right,

633
00:43:55,039 --> 00:44:00,079
people are buying the Nasdaq, They're
just buying the index. And indexing

634
00:44:00,199 --> 00:44:05,360
was a wonderful solution for investors.
Jack Bogel at Vanguard kicked it off,

635
00:44:05,360 --> 00:44:08,719
I believe in the sixties. It
really took started taking flight and getting some

636
00:44:08,760 --> 00:44:13,920
serious wind in its sales in the
late eighties, early nineties, and then

637
00:44:13,960 --> 00:44:17,840
it's exploded. Now you've got somewhere
between fifty to sixty percent of every dollar

638
00:44:17,880 --> 00:44:22,079
invested is invested via index funds.
Well, think about that. You don't

639
00:44:22,119 --> 00:44:27,880
really have to if everybody is putting
money into index funds, what does that

640
00:44:27,960 --> 00:44:32,800
mean. What it means is nobody
is qualitatively picking stocks. We're just dumping

641
00:44:32,800 --> 00:44:37,719
them into the index. And as
we do that, more and more money

642
00:44:37,920 --> 00:44:42,320
whatever stock has the biggest waiting in
the index, right, which is they're

643
00:44:42,320 --> 00:44:46,800
all market cap weighted, meaning Apple. Every dollar you put into the S

644
00:44:46,920 --> 00:44:51,960
and P five hundred, Apple's gonna
get six and a half cents insane,

645
00:44:52,199 --> 00:44:57,480
right, Yeah. And so what
you've got now is you've got the meg

646
00:44:57,599 --> 00:45:02,440
seven stocks making up Evan stocks making
up about I want to say it's twenty

647
00:45:02,440 --> 00:45:07,280
five to thirty percent of the entire
weight of the S and P five hundred.

648
00:45:07,400 --> 00:45:10,239
If we look at tech as a
sector, it's making up forty percent

649
00:45:12,360 --> 00:45:14,719
of the S and P five hundred. People look at me and they go,

650
00:45:14,880 --> 00:45:17,760
oh, no, it's not because
you're there's one of the other sectors.

651
00:45:17,760 --> 00:45:22,079
They go texically making up twenty nine
percent. What are you talking about?

652
00:45:22,119 --> 00:45:27,280
And it's communications which used to be
telephone companies, right, Well,

653
00:45:28,199 --> 00:45:30,760
I believe it is. I believe
it's Facebook that gets that gets considered a

654
00:45:30,760 --> 00:45:35,760
communications company. So when you really
look at the tech companies, the ones

655
00:45:35,760 --> 00:45:38,599
that are sitting at the top of
the NASTAC, it's you're looking at about

656
00:45:38,639 --> 00:45:44,119
ten to twelve stocks making up forty
percent of the weight of the entire index.

657
00:45:44,159 --> 00:45:45,800
And they're all in the same sector. Yes, and if you had

658
00:45:45,880 --> 00:45:50,519
a problem with core materials in that
sector, or as you've pointed out,

659
00:45:50,880 --> 00:45:52,760
China comes along, goes yeah,
you know what, We're gonna go and

660
00:45:52,760 --> 00:45:54,599
turn off all the apps over here. Yeah. Well, so yesterday was

661
00:45:54,639 --> 00:46:00,280
a perfect example of this. Okay, So yesterday there was a Randoms sell

662
00:46:00,280 --> 00:46:02,880
off in tech NASDAK was down two
point two percent out of nowhere. The

663
00:46:04,039 --> 00:46:07,719
average stock in the index was up. Guess how we'll get We'll guess what

664
00:46:07,760 --> 00:46:10,599
the S and P five hundred did. Now, so yesterday the vast majority

665
00:46:10,599 --> 00:46:14,480
of stocks in the SMP were positive. Yeah, the SMP was down one

666
00:46:14,519 --> 00:46:19,800
percent. Why because the same ride
you enjoy on the way up is the

667
00:46:19,800 --> 00:46:22,400
same one that's kicking in the shorts
on the way down. So this other

668
00:46:22,480 --> 00:46:24,639
chart is the S and P five
hundred percentage of S and P five hundred

669
00:46:24,679 --> 00:46:30,360
member members outperforming the index rolling twenty
one day return. So if I'm looking

670
00:46:30,400 --> 00:46:36,360
at this, I got to confess
I see the line trending up on the

671
00:46:36,480 --> 00:46:39,039
top, and then I see the
sort of EKG line down on the bottom.

672
00:46:39,360 --> 00:46:42,920
Yeah, just fall just falling out
of the floor. Right, Okay,

673
00:46:43,119 --> 00:46:45,239
so you got to explain the significance
of this to me, because I

674
00:46:45,239 --> 00:46:51,639
will confess this one loses me.
So what this is basically showing you is

675
00:46:51,679 --> 00:46:55,719
that this is a market being pressed
right now simply by momentum and at the

676
00:46:55,719 --> 00:47:00,400
stocks at the top, because while
the index is still going up, it's

677
00:47:00,400 --> 00:47:04,880
sort of like watching an airplane going
up and it's going up, but it's

678
00:47:04,920 --> 00:47:07,880
constantly losing air speed. Oh right, no, yeah, because the average

679
00:47:07,920 --> 00:47:13,159
stock it's not going up. Why
is the average stock not going up?

680
00:47:13,719 --> 00:47:19,440
Generally speaking, it's because literally right
now, earnings look very very toppy.

681
00:47:19,679 --> 00:47:23,079
They're not accelerating, and yet the
market multiples keep accelerating beyond them. Now,

682
00:47:23,079 --> 00:47:25,360
don't get me wrong, this isn't
doomsday. I'm not saying earnings are

683
00:47:25,400 --> 00:47:30,440
plummeting. They're not. But the
stock market has truly, at this point

684
00:47:30,480 --> 00:47:35,280
become completely disconnected from the We've said
it before, and it was getting worse,

685
00:47:35,320 --> 00:47:37,079
okay, but you're at a point
now where the other stocks aren't even

686
00:47:37,119 --> 00:47:43,639
going up. It's but the metaphor
you just used of the airplane rising and

687
00:47:43,639 --> 00:47:45,960
losing air speed, that means something
to me. Yeah, that means you

688
00:47:46,119 --> 00:47:51,159
better stop rising, or you better
pick up the air speed, because if

689
00:47:51,199 --> 00:47:53,559
you keep rising and losing air speed. That seems to me to be then

690
00:47:53,599 --> 00:47:57,280
the nose starts to go down.
Yeah, and I don't want to cite

691
00:47:57,280 --> 00:48:00,719
performance, but because that we can
get sticky there. But our portfolios on

692
00:48:00,800 --> 00:48:06,199
average were up about point five point
six yesterday. Hey, SMP five hundred

693
00:48:06,239 --> 00:48:09,000
was down one. Nasdaq was down
like two point one two point two percent.

694
00:48:09,559 --> 00:48:13,920
The only reason we didn't short anything, The only reason we were up

695
00:48:14,000 --> 00:48:17,239
yesterday and the market was down is
because we're properly diversified. Okay, right,

696
00:48:17,480 --> 00:48:22,039
And by the way, as we're
recording this program and people are watching

697
00:48:22,119 --> 00:48:25,840
and listening live, AIGHTE and T
just announced or the epic Times is reported,

698
00:48:25,880 --> 00:48:31,679
look at this data breach affecting nearly
all customers. And there you go.

699
00:48:31,760 --> 00:48:35,920
That's a big company within that one
tech sector. And that just came

700
00:48:35,960 --> 00:48:39,679
in as we're talking. This is
the Challenger US job announcement by industry Construction

701
00:48:40,440 --> 00:48:45,960
last price forty six thirteen. So
this is again, this is a bar

702
00:48:45,039 --> 00:48:50,480
graph and it goes left to right
and we see this number forty six to

703
00:48:50,559 --> 00:48:53,000
thirteen. So explain this to me
as it releases its economy, because we've

704
00:48:53,039 --> 00:48:58,239
also, in my mind, we've
disconnected jobs from the stock market. The

705
00:48:58,239 --> 00:49:01,199
stock marker can. In fact,
the stock market's job is to increase while

706
00:49:01,239 --> 00:49:06,440
people lose their jobs, because that's
what tech does. Tech eats jobs right,

707
00:49:06,519 --> 00:49:09,719
right when it's operating properly. Yeah, So what this is really showing

708
00:49:09,760 --> 00:49:13,719
to is something that we're watching very
carefully. And the reason we're watching it

709
00:49:13,800 --> 00:49:19,039
very carefully. Now again, there
is no silver bullet. Right. I've

710
00:49:19,119 --> 00:49:22,880
taken some flak because I've been calling
out the yield curve for quite some time,

711
00:49:23,039 --> 00:49:28,480
citing the inverted yield curve has an
undefeated record up until the last two

712
00:49:28,519 --> 00:49:32,079
years of when you get certain parts
of the yield curve inverted for sixteen months

713
00:49:32,159 --> 00:49:36,159
or more one hundred percent of the
time, you've had a recession, all

714
00:49:36,280 --> 00:49:39,320
right, that failed this time,
And one of the reasons that failed,

715
00:49:39,559 --> 00:49:45,400
in my opinion, is because if
you have if you have central banks in

716
00:49:45,440 --> 00:49:51,800
there via quantitative easing, conjuring money, right, conjuring money and buying trillions

717
00:49:51,800 --> 00:49:54,880
of dollars a US government bonds.
Right, So when somebody goes into a

718
00:49:54,920 --> 00:49:58,480
market and buys a bunch of bonds, you're going to push the yield down

719
00:49:58,480 --> 00:50:00,960
on the bond because you're going to
push the price. There is nothing in

720
00:50:00,000 --> 00:50:05,760
the world more frustrating than this cycle. Please again, tell me if I

721
00:50:05,760 --> 00:50:13,280
have this wrong. The so called
Federal Reserve invents debt, Yes, and

722
00:50:13,320 --> 00:50:15,360
we owe it them, We owe
that to them. Well they so,

723
00:50:15,639 --> 00:50:20,719
no, So they print money and
purchase debt from the US Treasury. Okay,

724
00:50:21,239 --> 00:50:24,719
who is the US Treasury? It's
US effectively. Okay, So they

725
00:50:24,760 --> 00:50:30,760
purchase debt from US. Yes,
who pays it back? Well, so

726
00:50:30,880 --> 00:50:35,480
technically speaking, so they collect interest
payments just like anybody else. Who from

727
00:50:35,519 --> 00:50:40,239
the US government? Who's the US
government? But well, I mean you

728
00:50:40,360 --> 00:50:43,920
mean like the shadow US cover.
I mean, where where does the government

729
00:50:43,920 --> 00:50:46,199
get us money? They print it? Well, tax that well, I

730
00:50:46,199 --> 00:50:50,360
mean we tax it, yeah,
from US? Yeah. Okay, So

731
00:50:50,440 --> 00:50:53,920
they purchase debt from US yep,
and then we pay them for the debt

732
00:50:53,960 --> 00:50:59,920
they purchase. Yes, and then
they but they only keep the amount of

733
00:51:00,079 --> 00:51:04,880
interest they need to run the FED
and then they actually give the interest back

734
00:51:04,880 --> 00:51:08,199
to the Treasury. The rest of
it it's a shell I mean, it's

735
00:51:08,199 --> 00:51:13,239
just a giant shell game. Okay. This is the most circular and obvious

736
00:51:13,320 --> 00:51:16,480
money laundering for profit event in world
history. Well, and this is one

737
00:51:16,519 --> 00:51:21,719
of the reasons that I was saying, look, maybe this inverted yield curve,

738
00:51:21,760 --> 00:51:23,400
it's certainly something that we need to
keep an eye on. But it's

739
00:51:23,440 --> 00:51:27,239
why I was saying, don't put
too much stock in it, because what

740
00:51:27,360 --> 00:51:30,079
is the yield curve right now?
The yield curve used to be. Because

741
00:51:30,880 --> 00:51:36,119
so when we talk inverted yeld curve, what that means is that short term

742
00:51:36,119 --> 00:51:38,159
debt is paying a higher interest rate
than long term debt, okay. And

743
00:51:38,199 --> 00:51:43,719
one of the primary drivers for that
is is that if you have people and

744
00:51:43,800 --> 00:51:47,000
market participants that are expecting a recession, what do central banks do in recessions?

745
00:51:47,039 --> 00:51:51,519
They cut interest rates. Okay,
Well, when you cut interest rates,

746
00:51:52,079 --> 00:51:55,480
you affect the long end of the
curve typically more than you do the

747
00:51:55,480 --> 00:52:00,559
front end the short term debt.
Right And so just like when interest rates

748
00:52:00,639 --> 00:52:05,920
rised in twenty twenty two, the
bond or rose in twenty twenty twenty twenty

749
00:52:05,960 --> 00:52:07,920
two, excuse me, the bond
that got hit the worst was a thirty

750
00:52:08,000 --> 00:52:12,079
year US government treasury I think at
the bottom it was down like sixty three

751
00:52:12,119 --> 00:52:15,199
percent, okay, in like a
thirteen fourteen month period of time. And

752
00:52:15,239 --> 00:52:16,599
you know how long we've been talking
about get out of bonds, right,

753
00:52:16,800 --> 00:52:21,320
right, I mean because it was
it was inevitability. Right the minute inflation

754
00:52:21,360 --> 00:52:22,880
showed up, rates were gonna pop
in bonds, We're gonna get smoked,

755
00:52:23,079 --> 00:52:28,719
right. So we had the biggest
bond blood bath in history in twenty twenty

756
00:52:28,719 --> 00:52:31,800
two. But the reason the yield
curve gets inverted is because as an investor,

757
00:52:32,280 --> 00:52:35,760
one of the ways that we held
up, we barely got hit.

758
00:52:35,760 --> 00:52:38,079
I think we were down like nine
percent or something, eight nine percent something

759
00:52:38,079 --> 00:52:42,119
like that during the COVID crash when
the market was down thirty six percent in

760
00:52:42,159 --> 00:52:45,360
five weeks. And one of the
reasons that we held in there so good

761
00:52:45,800 --> 00:52:49,159
is in middle of January, when
we saw everything going on, we converted

762
00:52:49,199 --> 00:52:53,000
twenty five percent of our portfolios to
twenty year US government bonds. Why because

763
00:52:53,000 --> 00:52:55,719
we thought the economy was going to
slow and interest rates we're gonna drop.

764
00:52:55,880 --> 00:53:00,719
And if I want to make the
most money, I buy long term bonds

765
00:53:00,119 --> 00:53:05,039
because just like they get hit the
hardest when rates go up, they make

766
00:53:05,119 --> 00:53:07,760
the most money when rates go down. And to give you an idea,

767
00:53:07,840 --> 00:53:12,400
how much twenty year US government bonds
over that five week period of time that

768
00:53:12,039 --> 00:53:15,159
we own them for about seven weeks
they went up thirty two percent value,

769
00:53:15,719 --> 00:53:21,000
right, So people don't. So
that's why the yield curve gets inverted.

770
00:53:21,000 --> 00:53:23,039
It's one of the reasons the yield
curve gets inverted. There's some banking issues

771
00:53:23,079 --> 00:53:28,559
too, but it's investor expectations for
long rates to go down. Right.

772
00:53:28,960 --> 00:53:30,639
Well, when everybody's citing oh,
every time the field curve does this,

773
00:53:30,800 --> 00:53:34,280
and you're like, hey, guys, the biggest owner of that debt is

774
00:53:34,320 --> 00:53:37,559
now the Federal Reserve, the yield
curve isn't really showing us what investor appetite

775
00:53:37,599 --> 00:53:40,000
is. It's showing us what the
Fed wants it to be. Yeah,

776
00:53:40,199 --> 00:53:44,039
right, and so funny enough,
this time it didn't play out. You've

777
00:53:44,039 --> 00:53:46,159
had an inverted yield curve for two
years and no recession so far. Well,

778
00:53:46,239 --> 00:53:50,199
we've said many times in the program
the rules are right now there are

779
00:53:50,239 --> 00:53:52,599
no rules, Zach. You've been
incredibly kind with your time and coming over

780
00:53:52,639 --> 00:53:55,400
here and being with us. There's
more charts we'll get to in another show,

781
00:53:55,920 --> 00:54:00,320
and I just it's such a thrill
to have you here. It is

782
00:54:00,400 --> 00:54:02,559
a mental relief. I mean,
I love doing the show. It's easy

783
00:54:02,559 --> 00:54:06,320
work. As my friends who are
combat bets. Tell me shut up.

784
00:54:06,840 --> 00:54:08,960
Your job's not heard. There's no
ideas, so shut up. But it

785
00:54:09,079 --> 00:54:13,039
is just it's enormous joy to be
able to visit with you in the studio.

786
00:54:13,480 --> 00:54:17,480
Remember this that God made real things
right, there are real common blessings.

787
00:54:17,719 --> 00:54:23,199
And my financial advice is this,
give God thanks today for the common

788
00:54:23,239 --> 00:54:29,119
blessings of food, air, comfort. My financial advice take stock of what

789
00:54:29,159 --> 00:54:31,039
you have that's real, that you
can touch and feel and hand on.

790
00:54:31,159 --> 00:54:35,440
That's my financial advice. This is
a Todd Hermershaw. Please go, be

791
00:54:35,519 --> 00:54:38,519
well, be strong, be kind, and please please just stop making the

792
00:54:38,559 --> 00:54:43,079
effort and simply walk in the light
of Christ.