Figureheads started two hours late. Two hours here. We are starting a little
bit late for people watching, and they're listening live by about two minutes,
and we're gonna apologize. Figurehead didn't even apologize. Zach Abraham's with me.
He did not watch, God Bless him the Big Boy press conference, so
we're gonna get him some video from that responding livetime. But there's a lot
of financial stuff we'll talk about. And he's on vacation, so I didn't
wear the Wise Counsel shirt. If you're watching, it's in the closet.
If you had anything to go get it. I'll go get it during a
break or something. I know you get your bored for us. We'll get
into that. We'll get to Biden's bumbling a four million dollar trash can study.
Zach has some wisdom about HBC bank, Bowie's criminal conviction and joke.
Find so much to get started with. We'll start with the help of Alan
Soaps dot Com, so Todd and God Almighty. The Todd Herman Show is
one hundred disapproved by big pharma technocrats in tyrone everywhere no from the high Mountains
of Free America. Here's the Emerald City exile God to her man. Today
is a day the Lord has made, and these are the time so which
God is the said, which shall live. So good to have Zach in
studio with me. Live those who are on the live feeds, you can
even ask questions of zach Man. You know what, I didn't tell my
friend Tom about this because it was afraid he would have camped out here.
You would have been driving up in the morning. Oh, I'm I'm just
joking, Tom. You join your VAKA. Well I am, but but
I'm also I guess I was doing my own Biden impersonation this morning. Yeah,
it was two hours late. I was forty five. You thought I
was gonna beg on you on that. Oh no, I got to tee
it up myself. I gotta hit it before you do. No. Yeah,
so yet, and there really is nothing to the story. I was
sitting there sipping my coffee and then you're in this beautiful rent. No,
you got to get us set the scene. Pleaar micup tea. You gotta
okay, you got to set the scene. You're sitting there. You guys
have rented a twelve room mansion, A couple of different helicopter pads on one
of the decks. Yeah. Yeah, we flew the helicopter in okay,
good yeah. No, I just first of all, we've never The only
time I've been to Cordelaine was last year when we came for the function of
your church, and uh, as a kid, I spent some time on
Ponderrey. That's gorgeous too. But we never stayed here, and so we
rented a house up in Cave Bay, a little bit out of town,
but not too bad. I was telling my next door neighbor, when you
don't have to deal with traffic, a forty minute drive is actually nice,
right. I was listening to my podcast sermons on the way in, you
know. Yeah. So anyway, so I wake up this morning and that's
it. You know, it gets light on the lake so early. It
was light at like five point fifteen, you know, and sipping my coffee,
watching my sermon, taking my time. Oh I got to leave at
seven, and then just going through emails again checking it and I went,
oh no, no, no, we started at seven. So yeah,
I wish there was a better story to it, but here we are.
That's that's that's the way stuff happens in VK. So you didn't get to
see a moment of clarity yesterday that the figureheads two hours late and he came
in after. I cannot wait to show you this because you know the fifty
first state, the boss of the fifty first state, Zelenski, was here,
and so you know what that means financially. Yep, Okay, you
got to see this and hear this and ready, yep, all right,
we hope this plays because we didn't get to test. Here we go,
turned the sound up. Okay, let's start it again. Here we go,
Here we go, and now I want to hand it over to the
President of Ukraine, who has as much courage as he has determination ladies and
gentlemen, President putin, President putin. Hey, look, it's it.
I can't. I don't. I the the human slash Christian side of me.
I feel bad for the guy every time he talks. The fact that
anybody is the fact that I mean, Chris Matthews is like the biblic or
the excuse me, the Dictionary definition of adult. So I just don't think
he's a very smart man, you know. Yeah, I don't you know
him. No, I don't know him. I I you don't know my
Chris Matthews story. No, but I heard you teeing it up and you
don't know the story. I don't think so, so I'm sorry for people
who heard this part. I just said, Okay, I'll tell it,
but I'm not telling it next week. So I'm in the Asella Lounge in
New York City, Okay, okay, So this is where people who are
spending their bosses money or rich people. In my case, I've well R
and C money, other helicopter people right, other couple of people there are.
So we're sitting in the Assella Lounge. We're in the business class of
the first class train for this Cella Corridor, famous corridor between New York and
Washington, d C. The Corridor of Power. And Chris Matthews is in
there, and he is lit and the drinks keep flowing. He is loud,
shocking, right, and he's he's instructing everybody and everything, and I'm
trying to get work done and I just find that treatment of people very obnoxious.
So we get out of the They come and get the important people us
so that we can board the train before you know, the stinky commoners,
and we're standing there in Central stations and he's still holding court. Okay,
this is bugging me. So I get on my phone and pretend to make
a call and I go, honey, oh my gosh, yeah no,
I'll be I'll be back in DC tonight. But I'm just I want to
let you know, man, you're not gonna believe who's standing here. It's
incredible. I'm like, I'm feet from him. I'm gonna go see if
I can meet him. It's it's a guy from MSNBC, Ed Schultz.
I was hoping. He said, like Dan rather and I said that and
so, and he's a lot taller than you think. And he gives me
the double birds. No, yeah right, I'm like going, he's waving
at me. That's so good. It actually bugged him. Oh of course
it does. These people are walking egos. I know, I know it
actually bugged him. So there's a lot more we've got to get to with
the figurehead. Then we got to get into your charts. You brought charts.
There's so much financial stuff. So let me just do a quick announcement,
real quick about the native path krill. Native path krill is a thing
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I know what I'm doing to the focus. I stayed to stoop ibraprofen.
Do you think it solves inflammation? No, Honestly, I'm asking you.
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it. Go to Nativepathcrill dot com Sas Todd, see the specials they have
for you today. It's Nativepathcrill dot com Sash Todd. It's got to get
to the financial stuff, HBC bank. We got to talk about the Alex
Jones versus Boeing. Fine, we ordered our native pathcrill by the way,
you did, yes, sir, thank you. My wife ordered them.
I love it. Awesome. Well you you've you've give you give a lot
of good, a lot of good stuff, good, a lot of good
tips. I appreciate that. Thank you. That's awesome. Let us how
it goes vice presidents. If it works, it's gonna work. Uh.
The the the figurehead named himself a new vice president. So, Cammys,
you didn't know this what you've been totally didn't been on the wake man.
Oh I don't even have cable TV out there. Yeah. Oh, and
I've been taking full advantage of that. No, Cammy's out, No way,
don't believe me. Okay, watch and listen ready. Yep. I
wouldn't have picked Vice President Trump to be vice president, so I think she
was not qualified to be president. Oh, it's calm. This is like
a three This is like a three legged dog that has cancer and just developed
glaucoma. You know what I mean? You're put him down right, And
I don't mean I don't no, No, I mean his political career.
Okay, I don't wish ill on anybody. So when the Secret Service comes
knocking, I know what it meant, like, I need that right now,
right right? Yeah, you can just have your people say, mister
Abraham, what's to clarify statement? But when he says this, there is
a follow up question later and this reporter in fact, we'll get to this
in a second. If you're in that room and you're his staff, and
there's a video, I didn't grab this Tony Blinken, the beleaguered and corrupt
secretary of State. When Biden says that, Blincoln closes his eyes and exhales,
I guess he goes. And you're looking next to him, there's the
deeply conflicted Lloyd Austin and some other people and their faces either go blank or
like shut their eyes or that slow exhale of he just called Trump vice president.
Now, this is funny, And tell you get to the war room
scenario. No, that's what I was gonna say. What are your thoughts
sitting in that room? Man? Hand that man the nuclear football right right?
And it's this. You're in the Situa wait room. You have a
five minute decision, And this is pretending the figure head runs things, fire,
keeps people warm. What, oh, I meant higher than put the
camera. H You can look past this or you can focus on it for
what it is. Who's running things? You know? I I mean,
is it just in my looking at it from the outside, I've just assumed
that it's just kind of the deep state doing their thing. You know what
I mean? I do too, So who's the deep state them? You
know, it's just the the entrenched powers that be, the right shadow government
deep state. And we'll talk. I'm going to talk. I'm going to
show next week about that's inspired by that thought. Here's the thing that my
wife and I were kind of war gaming in the kitchen. She said to
me, why do they just go to Biden and say, look, we've
got the goods on you. You know, we've got the FBI stuff.
We're going to go full black. We're gonna just blast you out if you
don't step aside. And I said to her, Oh, okay, they
could do that. Then guess what happens. The Chinese Communist parties intelligence services
goes to them and says, are you going to take our guy out?
Let's have a little sit down, and Nancy Pelosi. Here's some pictures of
your husband. This is some video we have. They sit down with other
people who are in the DNC and say so about those bank transfers and the
money we've been giving your kids. So are we gonna like, do you
really want to take our guy out? That's where this gets very very serious,
because do you think there's a constitutional order with a deep state? Do
you think there is an org? Charte? Clearly not? Okay, So
in that war room scenario, we've got this decrepit mentally and I'm not I
don't intend to be cruel, just being accurate. Yeah, it's mister president.
Make the call, good doc, let me call Bo. Rush Bo
might be there. Yeah, I'm sure he is. Well, No,
the other day I saw him petting and an imaginary dog on stage, you
know, right right, I know, I know. So the reporter a
reporter follows up on that comment about calling Trump VP. Watch this Vice President
Harris as Vice President Trump. Right now, Donald Trump is using that to
mock your age and your memory. How do you combat that criticism? From
tonight? Here comes a kill shot. Now, Biden's been a politician's whole
life. Wait, wait till you get the kill shot, Zach, listen
to the kill shot. Figure has done his grin lives your brain, takes
over, turns his head to the left, puts his hand back on the
podium. Now he's gonna okay, Oh you're gonna make me do it.
Okay, I'll light you up. Ready, Oh, here we go.
Listen to him. This is tonight's press conference. Thank you everybody. Thanks
everyone. Wow. Yeah, what a what a sound? Right? Like?
What a return? I listened to Trump? Yeah, I don't so.
The interesting thing that you brought up is I hadn't really thought on that
angle about leverage or something. The one thing I had thought, though,
is that he's got Like, in my mind, I was thinking that he
has something on somebody or a bunch of people, because this whole thing doesn't
make any sense. The fact that he's still in at this point, I
mean, he's out. I don't there's I didn't think. I didn't think
that he'd end up being on the ticket. A year and a half ago,
I was in Washington, d C. For about three months. That's
three months too long. Yeah, three months in and I had gotten an
agreement from Michael Steele before he went insane that I had P and L control
full stop or Digital higher fire full stop. I had vendor selection full stop.
No one could butt in. I was forced to take on one must
hire and Michael said, if you don't, you don't, I'll find some
form I'm asking you to. And it turned out the guy actually had skills
I needed, so it actually was a blessing and he did a really very
good job. It was like his data dollar or something like that. Yeah,
yeah, I gotcha. Now he's been at Facebook for fifteen years.
He's a very successful, very smart guy, very capable man. So I'm
there three months I made this decision, We're going to hire these two vendors
to build a web platform. Everybody thought we were building a website. We
were building an interactive platform with an API set so any developer could build an
app on our website. That's why they destroyed it later. We've spent all
that money so anybody could build a go to Victory app, a voter contact
app, and interact with a voter database. After we left, they destroyed
the code. They burned it. They literally said we want ever scrap of
it taken out. One and a why because I took money away from vendors,
because when we started to build this, we had vendors come over and
go, wait, we build a home call from home app. I go,
right, and you charge this one hundred thousand bucks a month to have
it. I'm going to get a hall from Home map for free and it's
going to be better. So I'm in there three months. That's what we
were building. That's ultimately what we build. Even Mother Jones gave us credit
for being better than the DNC. It was a weird thing. Three months
in I made this decision. Here's the vendors and the guy who had is
he's in prison. Now this guy, by the way, he'd gotten a
promise in DC from the committee he would be the vendor. He came back
furious from a trip and I'm up in the leadership meeting and there's a knock
on the door and it's one of my deputies. And I realized it's one
of my deputies interrupting the leadership meeting. I'm like, what are you doing?
He goes, I'm sorry, I'm mister chairman leadership. I'm sorry,
Todd, I need to see you. I go we are in a leadership
meeting. This is serious. I'm sorry, I'm mister chairman. I'm sorry.
And Michael is like, you interrupted my meeting, and I said,
Chairman, I'm sorry. This guy never does this. I go down stairs.
I'mlcob, what are you doing? I go. You know how Michael
gets about this. He goes Todd blank is downstairs and he's threatening to destroy
the whole place. So I go downstairs. I walk in. Here's this
guy and his lawyer brother and he says, I was told no questions asked.
I had this contract you, I said, an outsider, come in.
I'm telling you, I'm doing this for your own favor, for your
own good. Reputations are currency here. I would hate for people to find
out that you have a bad reputation, that you are a turncoat. So
I said, oh, well, I appreciate you looking out for me.
You know, when I rose to have a title of a global GM at
Microsoft, I certainly never had to play internal politics for someone who'd stabbed me
in the back. For instance, I never had to, let, say,
position one of my bosses to be taken out. And I would hate
for someone to find out that you have been in India going around saying that
you built Barack Obama's website and platform, and that you're a Democrat. And
I'd hate for people to find out that you've been taking money from Democrats to
talk about Republican technology. I'd really hate for that to come out. And
then his brother, the lawyer, says, are you saying? I said,
I'm saying what I'm saying. So, man, I'm really sorry.
I'd hate for that to come out. Are we clear? And Zach,
this is three months in. This is a website build. This is maybe
a couple million bucks. We're talking here about a trillion dollars, yeah,
or more. Yeah, so that wargame. Think about it this way.
You know what people would do Pfizer, big money, people who don't have
your morals for big money. Think about who has everything and anyway, that's
why it's not an easy thing to get rid of this, guys. That
makes sense. Yeah? No, Well, and like I said, you're
you know the Chinese comments. You know, who knows at the end of
the day, but they resonate just because you're looking at this. I can't
even believe we're having it. Every time I have this conversation, I kind
of have to pinch my not pinch myself, in a good way. But
you're sitting there going, wait, wait a second, this is a debate,
right, Like I was reading a doctor analysis of it, and he
goes, this whole thing is ridiculous. The guy's got Parkinson's. I could
diagnose him from across the mall. Yeah, you know. And he's like,
it's it, plain is day, right, And we're playing this game
where we're still trying to pretend that's not the case, right, I mean,
it's just And my immediate thought is what does he have on people?
Right? Like he's got bo has the Chinese Communist Party. We bought that
seat, We owned that office, not bow Hunter has it. Yeah,
we own that office. I mean. And when you have cozied your life
up next to the Chinese Communist parties, intelligence services, and god knows who
else Zelensky, you think Zelensky doesn't come over here and demand money and get
money. You think there's a reason for that. He has people figured out.
So there's We're gonna skip ahead a little bit. I mean, I
know people watch the press conference. In the big of a conference, there's
a couple of things you need to see, But man, I really wanted
to get into some of this financial stuff with you because I think it's very,
very very important. I got yet another note and i'll get this image
to you next week. A guy had a Mercedes SUV and it looks like
a really really beautiful ride in his garage, I think, he said,
He said, for a long long time, twelve months or something, or
lim me longer, and hadn't opened it. He got the oxy leaf two
thunderstorm devices, four of them, put them in his car and in he
said, forty eight hours it smelled like a rainforest. Now, I don't
know about you. I had a Jaguar that was garage for a long time,
probably a year, and cars build up stink. There are going to
be your cabins. There's going to be places like dorms, like I'm that
thing's coming out of the wall when I go and I with these high school
boys. Yeah, it's that little box over there. I'm taking that with
me to be in this room with ten junior high boys because it's going to
keep the air fresh. I want our cabin to be nice. You can
have this in your home. You do not need to have stink. If
you've smoked, gosh, please stop. If you have pets and cats.
Please eat them. No, I'm sorry, no, please, please please
clean the litter boxes. But if you'd like to not clean the litter boxes,
just put an ox you leaf too, thunderstorm mix it. You never
need to clean the little box. Your pat cats can urinate all over your
home and no one will know. Go to eatingpuer deals dot com enter code
Todd three uh, and I'll save you two hundred bucks whole home coverage three
of these advices for undertooer box. It's eatingpuerdeals dot com. Use code Todd
three. You ever see the videotape where they take the cars like up to
the Arctic and they're driving around like on ice tracks and stuff. Oh yeah,
like the most that's the equivalent of this thing. This thing's never been
tested like this cab or ten eleven year old boys. I mean, my
thought is you better take two, right, Okay, I've got eleven year
old boys. Okay, I'm just telling you all right, Well, then
we'll make this a major, major test for the oxy Leaf two. So
we're skipping ahead for a couple of things, but one is Biden at one
point said, you know, I'm following the orders of my commander in chief,
well, he probably is because Barack Obama is still probably stirring things in
the background. He made a point that he'd been given a list of people
to call on. He had the names, meaning those people agreed to ask
specific questions. There's no other way you get on that list. Oh yeah,
right. Peter Doocey is surprised he didn't get called on. There is
this moment it's Biden seven, which is not on my list. But he
actually a reporter said, you said, you called this guy president? Or
how can you say a bit for the job, given the limitations you've acknowledge
you have it? He goes limitations and he goes on to this, Well,
I have to go to bed earlier. But this is the thing I
needed you to see. This is something that Trump posted on social media,
and it is it's George Clooney from his role where he was an actor and
he was a guy who went around firing people. Now watch this and are
listening this. This is so so well done. President Trump posted this on
social media. So although I wish I were here with better news, the
fact is that you and I are sitting here today because this will be your
last week of employment. This is not an assessment of your productivity. You're
going to try not to take this personally. Well, I just had a
bad name. That's so good? Is that perfect? So good? Guys?
They got the looks right and everything. If you're just listening to this,
the link is in the show notes. You can have a seven day
free trial to the video show so you can see this. It's video dot
the Todd Herman Show dot com. I something in me? Can we just
one more time? Is that self indulgent? Just can we watch it one
more? Huh? I go? Yeah, all right. So, although
I wish I were here with better news, the fact is that you and
I are sitting here today because this will be your last week of employment.
This is not an assessment of your productivity. You're going to try not to
take this personally. Well, I just have a bad none. I like
I always, Well, how do people think of this? Like? Who
came up with that? You know what I mean? Oh, that's someone
has a ton of talent and recall, and I bet you there's gonna be
more. It's quick and in a way, you know, it could backfire
because it gives you a little bit of sympathy for the guy because if you've
ever had that conversation of we're gonna need you to let you go because are
not, and you know, having being on the other side, it's not
a fun thing to set someone down and say we're gonna let you go,
right. That's why I never do it. I just walk in and go,
well, you know right, you know where we're here. So this
is getting into the financial stuff. How much would you how much do you
pay consultants? And what do you think of consultants like McKinsey and Company and
Deloitte Intuition. They come in and they do these these reports for government and
for business, Like much would you pay, for instance, to figure out
if trash cans work? Well, I mean I've got a whole preponderance of
evidence that they do. I use them all the time, so I probably
not much, all right, Yeah, four million bucks? This is the
Eric Adams paid McKinsey and Company four million dollars to study whether trash cans work.
Yeah. I would just immediately be like, which one of his kids
or family members works for whoever he hired Doug. I mean, like it,
come on, if people understood the hooks right that these companies have into
these when I was at Microsoft, I had this proposal, wild proposal.
Let's take our website MSN. Let's view it as an operating system. Let's
let people build apps for it, like open so open source. Yeah,
yeah, that's a great idea. Actually, and this happened because I walked
into a room one day there was a meeting and it was our room next
and there's this thing where a lerk outside the window. You give people like
five ten minutes grace, and then you need the room and then you it's
kind of it's culturally okay to open the door. Yeah you're polite, but
you're letting them know you're there, right, You're looking through the window.
And then you open the door and I say, hey, you know,
I'm so sorry to interrupt. We do have the room, and oh sorry
I always saw you lurk, and we'll get out. We go, Hey,
what are you working on? Oh? Gas calculator? Oh cool,
like you're going to put one on this page. No, we're building one,
a gas price calculator. Oh well you know there's a ton of those.
Oh I know, but we're building a better one. Twenty people in
a room at Microsoft instead of just saying, hey, if you have a
gas price calculator, put it on our website and we'll give you a share
of ad Moneys. So I just write this proposal and it gets viewed a
lot of people like it. And you know what the response was, we'll
have Deloitte study this, and they came in and I found out it was
a five million dollar review when what we could have done is set up a
subsite of MSN and tested it for about a million bucks. But a gas
price calculator, a gas price like trying to predict gas now finding out where
the good gas was available, Like where's the cheapest gas near you? I
know, I know, I know. So these these companies are so tied
into this. Now this is you alone are going to respond to this.
I'm going to show you this image you were all over boweling early on warning
about them. This is Sean M. Davis from the Federalist. And if
you throw that image up there, they find Donald Trump two times more for
accurately praising the market value his home than Boeing got fined for killing people.
Boeing agrees to plead guilty to criminal fraud conspiracy charge related to fatal seven thirty
seven Max Crishes twenty eighteen, twenty nineteen, agrees to pay a two hundred
and forty three three point six million dollar fine. Just let me just shut
up and have you just do what you do. I took a lot of
flak for this back in Let's see, it was March. No, it
was March first, twenty nineteen. I remember the day. Yeah. And
the thing that's so frustrating about this is that it was so easy to spot
if you just looked, like you know, and I'm not going to try
to tee this up like I'm some luminary that knew the few. All you
had to do is look. All you had to do is look. You
realize that the first of all, a company like Boeing at their peak was
trading at thirty to thirty five times earnings, which is a joke when you
look at their margins, you look at the costs. And then the whole
narrative was what got us, what got us teed off on it was the
narrative was, oh, but they're more profitable now, they're more profitable now,
And you're sitting there going wait a second, wait a second, if
they're that more pro if they're that much more profitable. Right Now, What
that means is that every management team that came prior to this management team are
complete idiots, right because when you think about what but what it takes for
Boeing to you know, source material, it's just a low it's just a
low margin business, period, right, And so there's just not fluff there
to cut like, there's a lot of fluff. But you know, you're
dealing with you're dealing with unions. And when you looked at Boeing, nothing
structurally had changed. What you had to believe is that these guys, all
of a sudden, had just made this company. We're you know, like,
well we're no longer the old Boeing, We're no longer the old industrial
company. Now we're a high profit machine. And you're sitting there going,
wait, something doesn't add up here, right, because it just doesn't happen
all of a sudden. You don't take a company that big, that mature,
and all of a sudden, they don't change business, they don't offer
new products. But now all of a sudden, they you know, they're
making twice the margin on their airplanes. And whenever you see something like that,
especially with an industrial company, there's an old ad of just stripping the
plane ironically right, stripping the airplane right to get max fuel. We're throwing
out all the stuff, and that was my first hunt. So we started
looking into it and you're like, these guys are stripping the plane literally and
they're cutting corners. So then we started talking to employees that work there and
they're like, oh yeah, they go they're cutting corners. We're not doing
this. They ran me through. I was in twenty nineteen when we did
the show. I was on there talking about how you know, Boeing is
the basically the forefather of redundancy, right, double and triple redundancy and everything.
That's like they're claim to fame. That new mcast system that they put
in on the seven thirty seven Max. They sold it with one input,
so it's not a pedo tube, but it's like a pedo tube where it's
collecting air speed and stuff like that. They it only had one input,
and I remember looking at the engineer and I go, wait, hold on
a second, what if that goes What is there anything else they've ever done
that doesn't have redundancy? And how do you not have redundancy on a program
that is meant to uh, basically compensate for the lack of aerodynamics. Right.
So because the only reason they did the seven thirty seven max is because
they didn't have to design a new airframe, right, and so they could
retrofit it basically. But then they had to put the MCAST system on there
to compensate for the behavior, right, the changes because they had to move
the wings back to put on bigger engines and all this kind of stuff.
And you're sitting there a way so that that program that they designed to compensate
for the inefficiencies or the change in behavior in which the plane flies only has
one input, you know, and you're just and I remember just being blown
away, going if you have you know, anything like an airplane for people
that don't, if you have no redundancy, it will fail. It will
fail. Yeah, right, and and and things fail on planes all the
time. But they've got double in triple redundancy. It's not a big deal.
You wouldn't even notice it, right, And so we start going through
and you start looking at you know, they're talking about, oh, we're
increasing profits. It was all cost to ferments. They were throwing out maintenance
costs. They were telling me how they were finding broomsticks that we'd been left
behind in the tail rudder. That was what put that plane into Turtle Bay.
Oh okay, I don't know that it was a broomstick, but it
was that tail rudder. Yeah. That the mechanics came back later and said,
oh, we've been taping these things together. Yeah yeah. And then
there's this and so this is another image. And this is why memes are
actually very helpful, because this puts society and government into a huge spotlight.
Look at this from way of the world. Buying gets find less over the
desks of three hundred and forty six people than Alex Jones got five for saying
things. Yeah. Yeah. Now it's a different court. And Jones was
wrong about the school shootings grievously slow, so I think he almostly harmed people.
I know he did a billion bucks. Look it's it's it's like regulators
in general, and and I don't need any beef with any regulators out there,
So I'm not trying to take personal shots here, but they don't when
you talk about the big boys, and and you know, this kind of
was right along the same lines that we're going to talk about or what all
I was going to talk about with h HSBC. But but the the issue
here is that if they really go after them hard, it's almost like the
regulators and situations like this are part of the company. Well saying remember this
that the they signed off of the FAA let Boeing regulate itself. They did.
The FAA said we'll let bow and regulate itself. All right, We're
gonna shift into chart of palooza with Zach because Zach is kind of bted some
charts. We do need to talk about HBC. It's actually in the show
notes or the show titles. We need to do that, and I'm looking
forward to that. You brought us a whole bunch of charts and we can
go through this. We can start with HBC. You seem to think HBC
is a pretty important story, HBC bank. Can you under to start there?
Yeah, So this really gets to something that we're trying to touch on
all the time, which trying to get people to understand that the economy is
not what you think it is, that the financial system is not what you
think it is, that it's so much more contrived and so much more I
don't want to use the word artificial is not I mean it is artificial,
but it's it's so much more centrally planned. Right. And one of the
ways that you can look at that is look at HSBC and look at the
horrible things that they've been associated with. HSBC has basically single handedly helped the
Mexican or excuse me, not just Mexican, but the drug cartels become extraordinarily
more profitable, has HSBC HSP Yeah. And the way that they've done that
is through being loosely affiliated with a series of launderers, financial launderers, you
know, mostly based out of China, right, and then some operating inside
the US. And they've they have gotten it down. The efficiency levels that
they've gotten down to a pretty remarkable meaning they're laundering cartel money for one to
two percent, one to two percent, which tells you how wide spread it
is, right, Okay, I'm sorry. A home loan for a working
American is what percent right now? Three? Four? Oh, no,
no, no, seven, seven, somewhere like that. A home loan
for a working American system is seven percent. The home is collateralized, and
the drug cartels are getting launder paying one percent to have money laundered. Yeah,
to clean it as clean as a whistle baby, and and and they
know this, yes, and HSBC is basically enabling that. But it brings
up It gets to a point where you sit there and you go, if
you have a bank that operates in one hundred different countries, who do they
answer to? Shadow government? Question? Is there an org chart? Who's
in control? And right? Who? Yeah? Who has to who holds
maduciary duty? And to whom? Yeah? Nobody? Right? Who's their
loyalty to? Right? What? What system of regulations they adhere to?
None? Right? I mean, they're just open to the biggest bidder.
And that's one of the biggest problems when I'm banging on you know, these
huge companies that are all MultiNet like. It's just it's just an observation of
fact, which is, when you get to that size, you are by
definition a you're you're a risk. You're you're a geopolitical risk for that government,
right, just because you're not beholden to them. Okay, you just
answered your own question again about why they can't go to Biden. Biden's family
was worth one hundred and fifty million dollars on more of these guys. Now
that's chump change to the Chinese companies party. But it's not something they're going
to let go. You know this, and I know this. When you're
in the business of thuggan it doesn't matter if it's fifty bucks or five million
bucks, you're gonna get paid. Yep. Because you let fifty bucks go.
Now you develop a reputation as a guy who lets something go right right,
and that breaks away that is not well I'm sorry, yeah, but
HSBC, according to you, we are analysis. They have a reputation.
They've said lois bid intown, you're cartelling. This would mean not just drug
money, because the cartel's funny thing. They don't just do drugs, they
do sex trafficking. Yeah. Well, and HSBC was at the heart of
the Panama Papers, remember when that came out, the Panama Papers, And
so I anyway, there's there's there's some really interesting documentaries that you can find
on HSBC on YouTube. But I think and and you know, we could
probably sit here and go on about HSBC for two hours. But people really
need to understand that the so much of this is contrived and controlled and it's
not what you think it is that the winners are getting picked, you know.
And and you look at HSBC, why doesn't anybody really go after them?
They truly are too big to be regulated, right, They're too big
to fail because the economic disruption, that's the whole deal. I need to
get enough liabilities on my balance sheet to where nobody can yank my chain,
right, And that's the game they're playing. And if you look at the
consolidation and banks since the financial crisis, right, the only banks that went
out of business have been the banks that hadn't virtually nothing to do with it
in credible, right. And so you've just you've literally just built the power
of the banks that caused and facilitated the whole thing to begin with. That's
that's you, and I've agreed in the phrase for our Central Bank of conjuring.
Yeah, they talk about two bit. This is from Oilfield Rando in
Twitter, and he's pointing to this story. This is the Hill story.
Just in prices fell in June for first time since pandemic. Oh cool,
prices fill and then Oilfield Rando says this, you get a few paragraphs in
before discovering that prices did not in fact fall, that the headline is completely
false and the grocery store article picture is grossly misleading prices and this is from
their own article. Prices in the Consumer Price Index CORE, which removes the
particularly vaulta categories of energy and food, advanced one tenth of a percent in
June, after climbing two tents of a percent in May and three tents of
a percent in April. Average, over the last three months, core CPI
has advanced just one point one percent. Firm and noted food prices increased by
two point two percent annually in June, while energy prices were up by one
point one percent. But the headline is prices fell in June for first time
since pandemic. We've been talking about this for a long time too, where
I've been saying, hey, guys, inflation going down means that prices are
still going up. Right, People better understand this. Yes, it's inflation
is a rate of change. When it is positive, prices are going up.
It doesn't matter how less positive it is. Prices are still going up.
You haven't seen a price reduction anywhere, I mean not in mass right.
There have been some things that go up and down or whatever, but
no, and then they oh, look, we brought inflation back, and
you're like, man, prices are still thirty five percent higher than they weren't
twenty nineteen. Pal right, you know that's and this is the continuing conjuring
of what is, in fact, I think a faked up economy. There
is. I think that's probably right now, being faked up in your mind
if you are extra heavy. And I mean this because I did this to
myself. I have told the story. In fact, I told a friend
about this the other day. When I was addicted to fast food. We
were talking about addictions, and I actually opened up and said, yeah,
here's my behaviors. When I was addicted to fast food. I'm going to
to McDonald's in a row, but making sure to hide the wrappers and making
fake phone calls. What oh would you guys want? Oh yeah, okay,
well I'll get that for you. Hold on my new line. And
so I was. I was a fat you know, four hundred pounds,
and I was on the phone like pretending all this food is for someone else,
when in fact, it's my second stop at McDonald's in like an hour.
I was that much of an addict. But I was telling myself,
I don't know what lies. I was te messl But my friend said to
me, were you doing that for you or them? Those lies? I
go, gosh, I actually don't know. Probably for myself. If you're
extra heavy, there's some lies you're probably telling yourself. Well, my family
was, and I'm okay, all right, Really it's not that bad because
I can still walk and do things, and I carry my weight well.
And I'm just big boned. Okay, some of that's true. People do
have big bones. Sometimes it's very difficult to take off that. But here's
one thing that you probably have because one hundred million Americans have it. That
is fatty liver. Okay, big deal. It is a fatty liver is
an inefficient liver. An inefficient liver cannot properly cleanse your blood and cleanse your
body of toxins. It can't eventually do that, and it can become liver
disease. Right now, it's causing you to feels sluggish and slow, and
guess what that makes exercise hard. People who make liver health formula will help
you with this with a three hundred and sixty five day money back guarantee.
And every time I talk about their product, they tell me to tell you
this product should not be something you take for the rest of your life.
This is something you should take while you address the core issue of body fat
and this can help with that. You can go right now to get liverhelp
dot com slash todd. You'll get two free gifts when you purchase a thirty
day supply. That's get liverhelp dot com slash todd. Just please don't lie
to yourself like this stuff adds up. There is a cost to carrying that
extra weight. I have paid that cost. I do understand it. You
know, we should have thought ahead and created a charter PALOOZAUP music for you,
so this you can kind of walk on and now from the high mountains
of free America. It's charter to Polloza. This is a three month correlation
between S and P five hundred and the number of stocks advancing. So mindful
that a lot of people, most people are listening, not just watching.
Let's go through this and what this indicates to you as a guy who steward's
well, my money and that of a lot of other people. Well,
look, I think that we have to be very careful not to you know,
there's a difference between assessing conditions and then drawing conclusions, right, and
we cannot draw conclusions. And I want everybody to understand that that's not what
I'm doing, because we've never been here before. So you see this massive
drop, this dot way down at the bottom. Yeah, on the right
hand side, this correlation between stocks and a number of sucks advancing. Yeah,
And then you look at the only other previous mark that is relatable to
that, and it happened right at the beginning of the two thousands. So
two thousand and two thousand and one. If anybody has even a rudimentary under
or or knowledge of the market, you'll remember that there was a pretty significant
event that took place at the beginning of the two thousands. I assume to
remember the tech crash, right, And so look, I am not saying
that the setup here is different because so many of those companies back then didn't
even have profits. Okay, so the difference is here. The companies that
are advancing now they've got extraordinary profits, so they're not the empty suit that
so many of those were. But the issues it's still a huge issue because
you've got the stock market going up, but the number of stocks going up
is virtually nil. Right, it's one of the I mean, it's even
worse than it was at the beginning of the two thousands. So what it
tells you and is this goes right into what we talk about in our Virtual
roadshow about inflation. Meaning the reason for this, one of the main reasons
for this is the passive investing craze. And when I say passive investing,
what I mean is people are buying the S and P five hundred, right,
people are buying the Nasdaq, They're just buying the index. And indexing
was a wonderful solution for investors. Jack Bogel at Vanguard kicked it off,
I believe in the sixties. It really took started taking flight and getting some
serious wind in its sales in the late eighties, early nineties, and then
it's exploded. Now you've got somewhere between fifty to sixty percent of every dollar
invested is invested via index funds. Well, think about that. You don't
really have to if everybody is putting money into index funds, what does that
mean. What it means is nobody is qualitatively picking stocks. We're just dumping
them into the index. And as we do that, more and more money
whatever stock has the biggest waiting in the index, right, which is they're
all market cap weighted, meaning Apple. Every dollar you put into the S
and P five hundred, Apple's gonna get six and a half cents insane,
right, Yeah. And so what you've got now is you've got the meg
seven stocks making up Evan stocks making up about I want to say it's twenty
five to thirty percent of the entire weight of the S and P five hundred.
If we look at tech as a sector, it's making up forty percent
of the S and P five hundred. People look at me and they go,
oh, no, it's not because you're there's one of the other sectors.
They go texically making up twenty nine percent. What are you talking about?
And it's communications which used to be telephone companies, right, Well,
I believe it is. I believe it's Facebook that gets that gets considered a
communications company. So when you really look at the tech companies, the ones
that are sitting at the top of the NASTAC, it's you're looking at about
ten to twelve stocks making up forty percent of the weight of the entire index.
And they're all in the same sector. Yes, and if you had
a problem with core materials in that sector, or as you've pointed out,
China comes along, goes yeah, you know what, We're gonna go and
turn off all the apps over here. Yeah. Well, so yesterday was
a perfect example of this. Okay, So yesterday there was a Randoms sell
off in tech NASDAK was down two point two percent out of nowhere. The
average stock in the index was up. Guess how we'll get We'll guess what
the S and P five hundred did. Now, so yesterday the vast majority
of stocks in the SMP were positive. Yeah, the SMP was down one
percent. Why because the same ride you enjoy on the way up is the
same one that's kicking in the shorts on the way down. So this other
chart is the S and P five hundred percentage of S and P five hundred
member members outperforming the index rolling twenty one day return. So if I'm looking
at this, I got to confess I see the line trending up on the
top, and then I see the sort of EKG line down on the bottom.
Yeah, just fall just falling out of the floor. Right, Okay,
so you got to explain the significance of this to me, because I
will confess this one loses me. So what this is basically showing you is
that this is a market being pressed right now simply by momentum and at the
stocks at the top, because while the index is still going up, it's
sort of like watching an airplane going up and it's going up, but it's
constantly losing air speed. Oh right, no, yeah, because the average
stock it's not going up. Why is the average stock not going up?
Generally speaking, it's because literally right now, earnings look very very toppy.
They're not accelerating, and yet the market multiples keep accelerating beyond them. Now,
don't get me wrong, this isn't doomsday. I'm not saying earnings are
plummeting. They're not. But the stock market has truly, at this point
become completely disconnected from the We've said it before, and it was getting worse,
okay, but you're at a point now where the other stocks aren't even
going up. It's but the metaphor you just used of the airplane rising and
losing air speed, that means something to me. Yeah, that means you
better stop rising, or you better pick up the air speed, because if
you keep rising and losing air speed. That seems to me to be then
the nose starts to go down. Yeah, and I don't want to cite
performance, but because that we can get sticky there. But our portfolios on
average were up about point five point six yesterday. Hey, SMP five hundred
was down one. Nasdaq was down like two point one two point two percent.
The only reason we didn't short anything, The only reason we were up
yesterday and the market was down is because we're properly diversified. Okay, right,
And by the way, as we're recording this program and people are watching
and listening live, AIGHTE and T just announced or the epic Times is reported,
look at this data breach affecting nearly all customers. And there you go.
That's a big company within that one tech sector. And that just came
in as we're talking. This is the Challenger US job announcement by industry Construction
last price forty six thirteen. So this is again, this is a bar
graph and it goes left to right and we see this number forty six to
thirteen. So explain this to me as it releases its economy, because we've
also, in my mind, we've disconnected jobs from the stock market. The
stock marker can. In fact, the stock market's job is to increase while
people lose their jobs, because that's what tech does. Tech eats jobs right,
right when it's operating properly. Yeah, So what this is really showing
to is something that we're watching very carefully. And the reason we're watching it
very carefully. Now again, there is no silver bullet. Right. I've
taken some flak because I've been calling out the yield curve for quite some time,
citing the inverted yield curve has an undefeated record up until the last two
years of when you get certain parts of the yield curve inverted for sixteen months
or more one hundred percent of the time, you've had a recession, all
right, that failed this time, And one of the reasons that failed,
in my opinion, is because if you have if you have central banks in
there via quantitative easing, conjuring money, right, conjuring money and buying trillions
of dollars a US government bonds. Right, So when somebody goes into a
market and buys a bunch of bonds, you're going to push the yield down
on the bond because you're going to push the price. There is nothing in
the world more frustrating than this cycle. Please again, tell me if I
have this wrong. The so called Federal Reserve invents debt, Yes, and
we owe it them, We owe that to them. Well they so,
no, So they print money and purchase debt from the US Treasury. Okay,
who is the US Treasury? It's US effectively. Okay, So they
purchase debt from US. Yes, who pays it back? Well, so
technically speaking, so they collect interest payments just like anybody else. Who from
the US government? Who's the US government? But well, I mean you
mean like the shadow US cover. I mean, where where does the government
get us money? They print it? Well, tax that well, I
mean we tax it, yeah, from US? Yeah. Okay, So
they purchase debt from US yep, and then we pay them for the debt
they purchase. Yes, and then they but they only keep the amount of
interest they need to run the FED and then they actually give the interest back
to the Treasury. The rest of it it's a shell I mean, it's
just a giant shell game. Okay. This is the most circular and obvious
money laundering for profit event in world history. Well, and this is one
of the reasons that I was saying, look, maybe this inverted yield curve,
it's certainly something that we need to keep an eye on. But it's
why I was saying, don't put too much stock in it, because what
is the yield curve right now? The yield curve used to be. Because
so when we talk inverted yeld curve, what that means is that short term
debt is paying a higher interest rate than long term debt, okay. And
one of the primary drivers for that is is that if you have people and
market participants that are expecting a recession, what do central banks do in recessions?
They cut interest rates. Okay, Well, when you cut interest rates,
you affect the long end of the curve typically more than you do the
front end the short term debt. Right And so just like when interest rates
rised in twenty twenty two, the bond or rose in twenty twenty twenty twenty
two, excuse me, the bond that got hit the worst was a thirty
year US government treasury I think at the bottom it was down like sixty three
percent, okay, in like a thirteen fourteen month period of time. And
you know how long we've been talking about get out of bonds, right,
right, I mean because it was it was inevitability. Right the minute inflation
showed up, rates were gonna pop in bonds, We're gonna get smoked,
right. So we had the biggest bond blood bath in history in twenty twenty
two. But the reason the yield curve gets inverted is because as an investor,
one of the ways that we held up, we barely got hit.
I think we were down like nine percent or something, eight nine percent something
like that during the COVID crash when the market was down thirty six percent in
five weeks. And one of the reasons that we held in there so good
is in middle of January, when we saw everything going on, we converted
twenty five percent of our portfolios to twenty year US government bonds. Why because
we thought the economy was going to slow and interest rates we're gonna drop.
And if I want to make the most money, I buy long term bonds
because just like they get hit the hardest when rates go up, they make
the most money when rates go down. And to give you an idea,
how much twenty year US government bonds over that five week period of time that
we own them for about seven weeks they went up thirty two percent value,
right, So people don't. So that's why the yield curve gets inverted.
It's one of the reasons the yield curve gets inverted. There's some banking issues
too, but it's investor expectations for long rates to go down. Right.
Well, when everybody's citing oh, every time the field curve does this,
and you're like, hey, guys, the biggest owner of that debt is
now the Federal Reserve, the yield curve isn't really showing us what investor appetite
is. It's showing us what the Fed wants it to be. Yeah,
right, and so funny enough, this time it didn't play out. You've
had an inverted yield curve for two years and no recession so far. Well,
we've said many times in the program the rules are right now there are
no rules, Zach. You've been incredibly kind with your time and coming over
here and being with us. There's more charts we'll get to in another show,
and I just it's such a thrill to have you here. It is
a mental relief. I mean, I love doing the show. It's easy
work. As my friends who are combat bets. Tell me shut up.
Your job's not heard. There's no ideas, so shut up. But it
is just it's enormous joy to be able to visit with you in the studio.
Remember this that God made real things right, there are real common blessings.
And my financial advice is this, give God thanks today for the common
blessings of food, air, comfort. My financial advice take stock of what
you have that's real, that you can touch and feel and hand on.
That's my financial advice. This is a Todd Hermershaw. Please go, be
well, be strong, be kind, and please please just stop making the
effort and simply walk in the light of Christ.