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Speaker 1: If you want to get the show early and ad free,

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There you can choose from where you wish to support me.

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Now listen very carefully. I've had some people ask me

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about this, even though I think on the last ad

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I stated it pretty clearly. If you want an RSS feed,

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audio file. So head on over to the pekan Yonashow

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dot com. You'll see all the ways that you can

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support me there. And I just want to thank everyone.

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It's because of you that I can put out the

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amount of material that I do. I can do what

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I'm doing with doctor Johnson on two hundred Years Together

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and everything else, the things that Thomas and I are

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doing together on kindinal philosophy, it's all because of you.

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And yeah, I mean, I'll never be able to thank

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you enough. So thank you the Pekanyonashow dot com. Everything's

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there all right, as per is per usual. When I

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get together with these guys. We were in the middle

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of a conversation and yeah, we're here to talk about

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the Bank of England, City of London, and uh, I

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got filos here fill us.

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Speaker 2: How you doing, I'm doing, uh very well?

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Speaker 3: Cool, Stormy, how you doing.

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Speaker 4: I'm on team no sleep, but I'm I'm feeling ready.

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I'm good cool, all right, well, solid amount of Yeah.

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Speaker 1: Well, before we started, we would we started. Before we started,

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we were doing market autism. But uh, let's jump let's

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jump over here, and maybe you can even do some

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more market autism once we start getting into this here. So,

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but historic market autism. But anyway, filous, why don't you uh,

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why don't you jump in?

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Speaker 3: Yeah?

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Speaker 2: So, the theme of tonight's stream is broadly the history

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of the City of London, and kind of the question

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that we're going to ask is do Jews have a

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disparate amount of control over said city of London and

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current financial markets relative to say, the British elite. When

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you know the City of London, it's just a bunch

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of evil European globalists and Judaism doesn't really play a

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role in it. The time period that we're going to

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cover is about the year one thousand to seventeen hundred,

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and I hope to conclusively demonstrate that, yes, Jews pretty

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substantially and definitively controlled finance, financial innovations, the markets, documented

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all the way through all of these times. And I think.

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Speaker 3: I'll sort of.

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Speaker 2: Skip the more modern questions here and just get right

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into the question of how Jews control English banking.

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Speaker 3: Don't let me stop you, I guess I'll go.

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Speaker 4: I thought the globalists and the British did.

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Speaker 2: Well, So this is where you run the question of them.

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It's thrown around so many times in our circles, and

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it seems to be that it does split into a

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camp of it's the Jews versus it is globalists, and

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Jews are incidental or irrelevant in this question. There's been

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a history throughout conspiracy theories the American right. We're referring

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to them, referring to bankers, elites, shadow government, smoke filled rooms,

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neoliberal and broadly speaking, by like a measurable demographic quantity,

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they're not a majority of them being Jews, but the

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Jews that are in those positions exercise undue and outsized

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influence upon those institutions. And I think you're describing Bolshevism.

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Speaker 3: This is crazy. It's almost like every single time.

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Speaker 2: Which is the real It's honestly the real nuance of

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the It's not present in this simplified version of just

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Jews run everything. It's quid pro quo. That's it, the

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end of the statement. You have to have that nuance

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of power relative to size.

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Speaker 4: You have ones in the DMV, and the Jews are

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not running the DMV exactly. I guess they run everything.

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This has already disproven. Everybody can go home.

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Speaker 2: Now Shaniko runs the digital ideas, I guess at the DMV.

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So looking at this, I mean, I think it's important

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right off the bat because when you refer to people

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in power structures, these are not people working a job?

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Is what they do? Is it a profession? Is banking

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a profession a job like any other? I assert that

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it's not things like law and medicine, they are professions.

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In a profession, you reach a standard of education, training

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that enables your specialization in a subject and your credentials

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to continue work in that field. Vast majority I think

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of people that you'll meet in your life, or either

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professionals or wages wag journers. But I think in order

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to understand Jewish influence in the City of London, you

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need to change your thinking about what these people do

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for a living and you need to understand them. The

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concept of a guild and what a guild functionally is

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is it is an organization that provides exclusive privileges to

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members within a territory. There is no such thing as

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free competition in a guild system, and its members can

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only join at the recommendation of multiple members. If that's

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a confusing structure, just think about something like the Freemasons,

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which perhaps not so coincidentally, are founded with their Grand

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Lodge in the City of London. And when you begin

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to think of the structure of the City of London,

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you need to think of the company not as a

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modern quarter to quarter innovation that's run by Indians that's

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over leveraged in the AI bubble, is heavily invested in

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a services and finance based economy, but a company in

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a really traditional classical sense of the word. That's the

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sense that you need to understand. How I refer to

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bankers in this stream. So we're going to start in

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the year ten sixty six with William the Conqueror, and

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I'm going to pull from two different sources here. Source

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number one is Banks of the World, a history and

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analysis by Roger Orsinger from the mid sixties, and also

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the classic A History of Central Banking by Stephen Midford Goodson,

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and that has actually a section in it that's by

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Matthew Johnson, who I presume is doctor Matthew Rafael Johnson,

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who's been featured on your streams very regularly. So these

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are the two sources that I draw this following information from.

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This is not your Wikipedia stuff. As a matter of fact,

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you can't really find this on Wikipedia. So ten sixty six,

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William the Conqueror takes England in the Norman invasion, and

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prior to this England was in a financial golden age

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small holders on land or the Norman. This situation urban

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trade in cities has very low consistent prices, and there's

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an overall lack of liquid capital that is forestalling any

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kind of centralization of nobles or powers. You have power centers,

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but not this centralized government within England. Usury was formally

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banned in Mercia under off of the Great and King

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Alfred the Great, although he's in the process of centralizing

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Wessex power to resist the Danes. He refused the services

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of the banking cabal. And obviously, William the Conqueror going

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into England, he needs funding to fund his invasion of

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Anglo Saxon England. He was assisted by bankers from Venice

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and Rome. And if you will recall some of the

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earliest Jews that left Palestine Roman Palestine, they went to

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Rome and Italy was the first place that Jews were

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able to go to in the West to establish their systems.

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Under William the Conqueror, usury was permitted. The old Anglo

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Saxon aristocrats were killed and William bought in a new nobility,

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which established the first iteration of feudalism in England. This

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led to a system that charged thirty three percent of

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collateral lands and three hundred percent on capital as a

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tool within the cities for trade. In two generations after

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William the Conqueror, sixty six percent of England's land was

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in the hand of money lenders. And I make that

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distinction very clear. Money lenders are not the same thing

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as bankers. These are different and I'll get into it later.

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By both sources, between the time of Rome being in

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Britain and their eventual evacuation out of the area that

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was to be the city of London, all the way

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through for the next nine hundred years to Norman the Conqueror,

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they were basically zero Jews in England. And what both

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of these separate banking books have asserted is that Jews

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were the first people in England to deal in money,

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as we understand in our modern conception. For a long time,

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the Jews alone gave the Norman Kings the support they

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needed in terms of war and rebellion. A Charter of

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Henry the Third was necessary to limit the permissible interest

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on loans to two pence on the pound per week,

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that is to say, a limited interest of forty three

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percent per year. So to put that in context, Jews

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come in with William the Conqueror, and by the early

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twelve hundreds they are starting to have to issue royal

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charters to limit the amount of interest to not be

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super exorbitant. During the twelve seventies and twelve eighties, the

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crown officially attempted to crack down on coin clipping. I'm

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sure all of your audience members know what coin clip

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thing is, even by Jewish sources, specifically some nineteen nineties

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books that I've read looking at the Jewish histories. The

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English Jews of the time were extremely wealthy relative to

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the Anglo, Saxon and Norman populations that were there Edward.

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The first expelled the Jews formally in twelve ninety. What

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happens after this point. Jews are no longer in England

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for the most part, at least the wealthier ones that

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were allowed to retain most of their possessions and were

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physically required by law not to be harmed as they

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were put on boats and sent to the continent. The Jews, however,

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succeeded in the money lending trade by the Lombards. These

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are Italian merchant bankers from Milan, Florence, Venice, Genoa, and Luca.

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Banking houses of Italy had branches in London starting from

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the thirteenth and fourteenth centuries. The Italians, as they're coming

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into London are bringing the earliest direct predecessor of liberalism

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in the form of Renaissance humanism, and so these men

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are essentially equipped to handle the property and financial circumstances

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of the elites within English society at this time. Money

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and valuables began to be trusted to these Lumbards. There

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is within the city of London a Lombard Street that

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they would gather in on the open street to conduct

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their business, and from this time the Corporation of Goldsmiths

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was formed. Goldsmith obviously refers to anybody who works with

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gold jewelry who is tasked by the king to have

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a standard of weights and measures. This is extremely important

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in inventorying the wealth of nobility in the country. There

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were in fifteen fifty six approximately one hundred goldsmiths in

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London by the Elizabethan period, and sixteen hundred personal fortunes

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were mostly jewels, plate, and gold and silver coins. This

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wealth was either situated with these one hundred and seven

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goldsmiths or the Royal Mint directly. The system, honestly is

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pretty stable and not too complicated as far as financial

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systems go. By the time of Charles the First and

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Charles the Second, the looting of the Royal Mint starts

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to begin. Charles the First appropriates one hundred and thirty

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thousand pounds sterling, and Charles the Second appropriates one hundred

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excuse me, one point three million pound sterling out of

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the Royal Mint, so that is money that is being

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taken directly from the goldsmiths and the royal mint. In

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sixteen seventy two, the reason that decision for one point

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three million pounds sterling was made is to finance the

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Dutch War, the England was currently fighting in the king

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Several years afterwards, ignow his debt to these goldsmiths and

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paid interest on it for a few years. It is

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this interest which created the concept of a national debt

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in England. Prior to this point there are only two

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major types of people handling massive amounts of wealth. These

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are the goldsmiths and the money lenders. But after this

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point there is banking this massive national debt. This creates

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a funneling effect. In an economic crisis, when most are

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driven to bankruptcy, the individuals who survive largely tend to

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amass further power and wealth after the fact. And this

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is where we get into the Dutch. When looking at

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a financial system, you, especially in the early modern the

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Mercantilist period and the Middle Ages, you are almost never

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looking at a market totally in isolation, especially as it's

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beginning to modernize. How does this about, well, financially speaking,

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let me start out earlier the Dutch Sephardic Jews. So

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in order to understand what the Dutch are doing in

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London and creating the concept of banking, you have to

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understand what the Jews are doing at this time. So

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upon their expulsion from Spain in fourteen ninety two, major

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Dutch Sephardic Jewish families move to Amsterdam and they're rebuilding

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their banking base with a square of influence. They're controlling

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this power through grain trade in the Baltic their management

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of Amsterdam banks, trade routes in Constantinople, the Turkish market

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as well as Poland forming a square. These are the

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overland roots of modern grain trade that enable them to

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skyrocket grain prices in the West, forcing the East to

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export more and more. They're playing both sides here. The

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earliest new examples of these modern bank technologies I'm about

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to present are in the grain market, and they are

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ongoing and developing in Dutch Swardik Jewish families in Amsterdam

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between fifteen fifty and sixteen twenty. Well, what's a banking

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technology and innovation? Well, the Dutch Spardak Jews invent the

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following in Amsterdam exactly, but to understand their brief connection

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to London. The Dutch essentially conquer England in sixteen eighty eight.

240
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William the Third, who is known as William of Orange

241
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Stadtholder of Holland. He has offered the English throne by

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the Dutch. In sixteen eighty nine. Many Sfardak Spanish Jewish

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families come to that had come originally to Amsterdam and

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were responsible for the grain trade, followed this specific king

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to London and they institute all of these banking innovations

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that they had previously created in adam What they invent

247
00:17:02,080 --> 00:17:07,400
well here it is loan collaterals, repo transactions, short and

248
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long term annuities, annuity associations, tontings, lotteries, public securities, futures

249
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and options, trading derivatives, and the perpetual bond. So that's

250
00:17:22,279 --> 00:17:25,400
a lot of different innovations, not all of them honestly,

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I understand. But I can tell you that some of

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these perpetual bonds and institutions they're still honored today.

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Speaker 4: That's the way both of us. Every single one in

254
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this call is a perpetual bond. Every Treasury bill is

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basically a perpetual bond that we pay forever go on.

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Speaker 2: Lick Dick Bovendoms, which is a Dutch water authority bill.

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There's one in existence from sixteen twenty four that's still

258
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currently paying five percent interest a year. And so why

259
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did the Dutch invent all of these innovations in banking?

260
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While trade and risk are inseparable. In order to make

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an investment, you have to alleviate or eliminate, if possible,

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most of your risk to ensure your stability of your

263
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supply and your price. It's complicated and I don't understand it,

264
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but essentially this relationship between trade and risk incentivizes you

265
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as a banker to make a contract for future delivery.

266
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This is the foundation within Amsterdam of futures and options

267
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trading and eventually from this the evolution of the derivative.

268
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Why are these created? They appear in a modern form

269
00:18:49,440 --> 00:18:51,839
in the market of shares for the Dutch East and

270
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West India companies in sixteen oh two and sixteen twenty one.

271
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Why then, Well, you have a major risky investment. You

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need to create, outfit rig and gather men for a ship,

273
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and then multiple ships to mount an expedition send them

274
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to the other side of the planet to gather extremely

275
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valuable resources which you can then sell at high prices

276
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near to your home country. And what that means in

277
00:19:21,279 --> 00:19:24,920
practice if you're a banker, is that a very large,

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a vast majority of your investment is going to cease

279
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to exist. It's extremely risky. The ship is going to sink,

280
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the crew commutiny, there can be pirates. There's a very

281
00:19:35,119 --> 00:19:40,119
high likelihood that your expedition is never going to have

282
00:19:40,200 --> 00:19:42,400
a return on it. And what that means is that

283
00:19:42,799 --> 00:19:46,400
bankers that are involved are trying to diffuse risk amongst

284
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each other. So one man who theoretically could pay for

285
00:19:50,079 --> 00:19:52,960
an entire expedition if they were extremely wealthy, would not

286
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be forced to eat their shoe leather. So the British

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form of this comes about in the East India Company

288
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in sixteen hundred. This is something called a joint stock company.

289
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But the East India Company in sixteen hundred and it's

290
00:20:09,160 --> 00:20:13,559
charter had less financial fuckery going on. What made the

291
00:20:13,680 --> 00:20:18,839
Dutch East India and West India companies much more profitable

292
00:20:18,880 --> 00:20:23,079
for speculation is that they were distributing annual dividends of

293
00:20:23,160 --> 00:20:26,680
between ten to twenty percent on average, and sometimes as

294
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high as sixty five percent. So what this allows for

295
00:20:31,160 --> 00:20:36,720
with these dividends are speculation in forward markets, and so essentially,

296
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very wealthy people with a lot of mind, like a

297
00:20:41,400 --> 00:20:42,680
lot of money and a lot of time on their

298
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hands to research the likelihood of success of an expedition,

299
00:20:46,279 --> 00:20:50,519
will begin to conduct futures and options trading, begin to

300
00:20:50,599 --> 00:20:53,720
think of derivatives, and all of these inventions are created

301
00:20:53,759 --> 00:20:57,400
by the Jewish banking families in Amsterdam. If you want

302
00:20:57,440 --> 00:20:59,839
like a more real world example that you've probably heard

303
00:20:59,839 --> 00:21:03,759
of economics class, look up the tulip mania, the Dutch

304
00:21:03,839 --> 00:21:10,119
tulipmania between sixteen thirty four and sixteen thirty seven. So, okay,

305
00:21:10,240 --> 00:21:12,319
we now have all these craziest.

306
00:21:12,160 --> 00:21:15,640
Speaker 4: Isaac Newton went bust, by the way, correct, he's the

307
00:21:15,839 --> 00:21:20,920
blowing up. When the blowing up of the collapse of

308
00:21:20,960 --> 00:21:25,720
the Dutch stock Exchange was a controlled demolition. It was

309
00:21:25,759 --> 00:21:29,720
going to go bust anyways, right, So if the house

310
00:21:29,799 --> 00:21:34,160
is going to fall down someday, it's better to just

311
00:21:34,279 --> 00:21:37,599
demo it to make sure you're not inside it that day. Right.

312
00:21:38,799 --> 00:21:44,319
Absolutely nobody told Isaac Newton, apparently, and he was almost bankert.

313
00:21:44,359 --> 00:21:47,920
He basically was bankrupt. He was a large shareholder. He

314
00:21:48,039 --> 00:21:50,960
was a successful guy. I was a large shareholder of

315
00:21:50,960 --> 00:21:53,720
the Duchy s India Company. But one quick thing about

316
00:21:53,720 --> 00:21:59,079
futures and options. These are not predatory instruments on their face.

317
00:22:00,240 --> 00:22:07,599
Fulfill a very important function in any type of commodities trading.

318
00:22:09,079 --> 00:22:15,599
And simply, like anything above subsistence farming is going to

319
00:22:15,920 --> 00:22:20,039
be some form of commodities trading. Right, Like, just simply

320
00:22:20,279 --> 00:22:25,440
a farmer taking his goods to market or whether it

321
00:22:25,440 --> 00:22:33,759
be grain, corn or whatever, is commodities trading. But he

322
00:22:33,839 --> 00:22:37,359
can't control what price he gets at the market. Right,

323
00:22:37,480 --> 00:22:41,559
somebody could you know, be getting out of the business

324
00:22:41,680 --> 00:22:46,559
or switching to you know, tomatoes or whatever, and is

325
00:22:46,680 --> 00:22:51,440
basically just selling all of his corn, including the seed corn,

326
00:22:51,480 --> 00:22:55,799
which you generally wouldn't sell, right, that's for planting. He

327
00:22:55,839 --> 00:22:59,279
doesn't care, he's getting out of the business. So you

328
00:22:59,319 --> 00:23:04,519
get to the market it and the corn prices are

329
00:23:05,240 --> 00:23:09,000
you know, forty percent less than what you needed them

330
00:23:09,039 --> 00:23:11,359
to be as in like just to recoup your cost.

331
00:23:12,200 --> 00:23:16,039
Farmers operate on a very thin margin, right, they're basically

332
00:23:16,039 --> 00:23:19,319
betting the farm. This is like they're betting the farm

333
00:23:19,359 --> 00:23:22,440
each time because of the amount of money it would

334
00:23:22,440 --> 00:23:27,240
take to plant, and once that money is in the ground,

335
00:23:27,400 --> 00:23:33,960
it's frozen until harvest. So basically all of their expenses

336
00:23:34,599 --> 00:23:37,519
that they would have throughout the whole year they would

337
00:23:37,519 --> 00:23:39,599
have to use their save. This is why farmers are

338
00:23:39,680 --> 00:23:44,640
such good savers. Every I would bet every single farmer

339
00:23:44,640 --> 00:23:48,039
in the country that isn't some major agricultural combine or

340
00:23:48,039 --> 00:23:53,720
some shit like that has literally like mason jars full

341
00:23:53,720 --> 00:23:57,319
of gold or one hundred dollars bills buried around his property.

342
00:23:57,359 --> 00:24:01,400
That's just how they do it because they basically have to.

343
00:24:02,759 --> 00:24:05,480
They have to put in so much capital into their

344
00:24:05,519 --> 00:24:09,680
crop each year, it leaves very little leftover for them

345
00:24:09,720 --> 00:24:15,240
to live on. So anything goes awry, any machine breaks anything,

346
00:24:15,279 --> 00:24:19,279
it could be disastrous. And they're basically living off savings.

347
00:24:19,759 --> 00:24:23,039
So this guy just found out that like all of

348
00:24:23,039 --> 00:24:25,799
his money that he invested into his crop, because that's

349
00:24:25,839 --> 00:24:29,119
what it is. Every planting season, he is making an investment,

350
00:24:31,559 --> 00:24:33,640
and that investment was locked up for a whole year,

351
00:24:34,759 --> 00:24:36,960
and now he gets to find out that when he

352
00:24:37,000 --> 00:24:41,200
goes to sell it, he's lost half his money and

353
00:24:41,279 --> 00:24:46,039
he's already eaten through all his savings. How much grain

354
00:24:46,119 --> 00:24:48,559
do you think is going to be planted next year

355
00:24:50,920 --> 00:24:54,799
significantly less. Right, that farmer is not making the same

356
00:24:54,839 --> 00:24:58,759
investment again, either because he physically can't or he's too

357
00:24:58,799 --> 00:25:03,000
afraid to now. And every other farmer that brought their

358
00:25:03,039 --> 00:25:07,680
goods to market along with that farmer, they got forty

359
00:25:07,720 --> 00:25:12,160
percent less too. They will be planting forty percent less

360
00:25:12,519 --> 00:25:18,319
next year minimum. And this is how you have basically

361
00:25:19,119 --> 00:25:23,319
rapid boom and bust cycles that are inherent to commodity

362
00:25:23,319 --> 00:25:28,759
markets without it before, like this was a very common thing,

363
00:25:28,960 --> 00:25:36,920
just was you know, the invention of futures and options

364
00:25:38,759 --> 00:25:42,400
were almost necessary to grow any type. Let's put this way,

365
00:25:42,400 --> 00:25:45,640
like let's say you boot all the Jews out, kill

366
00:25:45,680 --> 00:25:48,440
all the derivative contracts and say we're not doing that,

367
00:25:48,559 --> 00:25:52,359
We're not doing financialization at all. If you're going to

368
00:25:52,440 --> 00:25:56,599
have a national economy, you would have to put back

369
00:25:56,799 --> 00:25:59,599
futures and options because it's the only way to do

370
00:25:59,640 --> 00:26:06,599
agric culture outside of just your immediate locality. Because basically,

371
00:26:06,920 --> 00:26:10,079
what an option is, or what a future is is

372
00:26:11,079 --> 00:26:13,680
when that farmer is making an investment, like let's say,

373
00:26:13,880 --> 00:26:16,839
all right, I am going to sink all literally all

374
00:26:16,880 --> 00:26:24,000
of my money into the ground. I need this percent return, like,

375
00:26:24,039 --> 00:26:26,119
I need to make this amount of money or else

376
00:26:26,119 --> 00:26:29,119
I'm going to go bankrupt. I need grain to be

377
00:26:30,319 --> 00:26:33,039
you know, let's say ten or fifteen or twenty cents

378
00:26:33,039 --> 00:26:35,960
more a bushel than it is now for me to

379
00:26:36,039 --> 00:26:41,440
even break even. So as insurance, I'm going to buy.

380
00:26:42,599 --> 00:26:45,839
And grain brokers are happy to do this because it's

381
00:26:45,880 --> 00:26:50,000
also insurance for them. The grain broker be like, all right,

382
00:26:50,039 --> 00:26:54,480
I will agree to buy your crop once you're done

383
00:26:54,559 --> 00:26:58,319
harvesting at this price, and the farmer goes, all right,

384
00:26:58,319 --> 00:27:01,680
that's a good price, Okay, I can live with that.

385
00:27:01,759 --> 00:27:05,559
Everyone's happy. I shake their hands. That's just a six

386
00:27:05,599 --> 00:27:10,039
month That was a six month option contract. Right. Both

387
00:27:10,079 --> 00:27:16,599
the farmer and the grain wholesaler came to terms that

388
00:27:16,640 --> 00:27:19,480
were acceptable regardless of where the price is at the

389
00:27:19,480 --> 00:27:23,160
moment that that crop is brought to market. If the

390
00:27:23,240 --> 00:27:27,000
crop is going to market and grain prices have tripled,

391
00:27:27,319 --> 00:27:30,119
then that farmer made a really shitty deal. He just

392
00:27:30,200 --> 00:27:36,400
gave his crops away for pennies on the dollar, you know,

393
00:27:36,720 --> 00:27:40,440
when he could have been getting you know, five dollars

394
00:27:40,640 --> 00:27:43,720
on every dollar. You know, he made twenty percent or

395
00:27:43,759 --> 00:27:46,119
ten percent when he could have made two hundred and

396
00:27:46,200 --> 00:27:49,880
that grain merchant, that grain wholesaler is very happy. But

397
00:27:50,000 --> 00:27:53,920
let's say he goes to market and the scenario happens

398
00:27:53,920 --> 00:28:00,960
that I just laid out where grain is down fifty Yeah,

399
00:28:01,000 --> 00:28:04,880
that grain wholesaler is going to take a hit on

400
00:28:05,119 --> 00:28:09,480
just that guy's order. Right, that'll get evened out with

401
00:28:09,519 --> 00:28:11,720
all the other people he has to go buy a

402
00:28:11,720 --> 00:28:17,359
grain from. But that farmer stays in business instead of

403
00:28:17,359 --> 00:28:23,680
getting wiped out, right because he made a deal six

404
00:28:23,720 --> 00:28:29,319
months beforehand for his bare minimum and like his total

405
00:28:29,359 --> 00:28:32,200
investment plus a bare minimum to keep going, like the

406
00:28:32,319 --> 00:28:37,119
total investment all my money plus ten percent. So yeah,

407
00:28:37,200 --> 00:28:41,519
that time the grain broker got screwed, but he's buying

408
00:28:42,039 --> 00:28:46,119
the entire crop of one hundred farmers. So him getting

409
00:28:46,160 --> 00:28:48,839
screwed on that one little thing gets kind of washed out.

410
00:28:49,119 --> 00:28:52,240
But it saves that farmer and he's going to plant

411
00:28:52,359 --> 00:28:55,240
the same amount or more next year because he at

412
00:28:55,319 --> 00:28:58,000
least earned a little bit more money and can buy

413
00:28:58,039 --> 00:29:02,240
more seed. This is like it's like damper systems on

414
00:29:02,279 --> 00:29:08,279
your car. Right, It's a suspension system. It stops instead

415
00:29:08,319 --> 00:29:11,240
of like price action that it's you know, dampening up

416
00:29:11,279 --> 00:29:15,119
and down. It's supply that it's dampening up and down,

417
00:29:16,680 --> 00:29:19,440
and it stops there from being basically feast or famine

418
00:29:19,480 --> 00:29:24,240
cycles because the opposite of grain shortage is a whole

419
00:29:24,240 --> 00:29:28,640
bunch of grain going to waste right, it goes what

420
00:29:28,680 --> 00:29:31,079
do they call it, fallow in the fields, where the

421
00:29:31,119 --> 00:29:34,000
farmers literally just let it rot in the field so

422
00:29:34,000 --> 00:29:38,200
they don't have to buy fertilizer next year anyways, So

423
00:29:39,000 --> 00:29:42,519
they're not When people hear like derivatives, futures and options,

424
00:29:43,160 --> 00:29:48,839
they immediately think of like, you know, the big short

425
00:29:49,200 --> 00:29:54,400
and just financial fuckery and casinos whatever. That is largely true.

426
00:29:55,880 --> 00:29:59,920
But when it comes to agriculture specifically or mining right,

427
00:30:00,079 --> 00:30:02,960
things that make things that either grow or pull out

428
00:30:03,039 --> 00:30:09,279
real things. These are necessary mechanisms for any advanced economy.

429
00:30:10,000 --> 00:30:12,799
So I will say there's a very very large amount

430
00:30:12,799 --> 00:30:17,720
of fuckery and a very small amount of innovation. So

431
00:30:17,839 --> 00:30:19,799
we do have to kind of and trust me, if

432
00:30:19,799 --> 00:30:22,799
anyone wants to slam the fuckery of these people, it's me.

433
00:30:23,839 --> 00:30:26,880
But as we go and we tear down what exists

434
00:30:27,720 --> 00:30:31,279
and rebuild something new, we need to know what's worth keeping.

435
00:30:33,160 --> 00:30:38,640
Futures an option contract in relation only to agriculture, mining

436
00:30:39,000 --> 00:30:44,279
and basically resource businesses are imperative. Go ahead, filose.

437
00:30:44,640 --> 00:30:48,119
Speaker 1: Well, let me let me jump in there. He goes,

438
00:30:48,160 --> 00:30:54,839
I do have definitive proof that Jews didn't invent the future,

439
00:30:55,160 --> 00:31:00,480
the concept of the future. That's amazing, Sombart in the

440
00:31:00,559 --> 00:31:04,759
Jews of modern capitalism. He goes through an exhaustive He

441
00:31:04,799 --> 00:31:07,240
talks about Cromwell, he talks about the Dutch East and

442
00:31:07,240 --> 00:31:10,119
West India Company, and then he comes and says most

443
00:31:10,119 --> 00:31:12,480
important of all, however, the book, which for the first

444
00:31:12,480 --> 00:31:17,720
time exhaustively treated of stock exchange business and all its branches,

445
00:31:17,759 --> 00:31:20,839
was written by a Portuguese Jew in Amsterdam toward the

446
00:31:20,920 --> 00:31:23,440
end of the seventeenth century. I refer to Don Joseph

447
00:31:23,480 --> 00:31:28,759
de la Vega's Confusion de Confusions, etc. Which appeared in

448
00:31:28,759 --> 00:31:31,720
sixteen eighty eight, and which a stock exchange specialist had

449
00:31:31,720 --> 00:31:34,720
described as being still the best description both in form

450
00:31:34,759 --> 00:31:38,559
and substance of stock and share dealing even today. The

451
00:31:38,599 --> 00:31:41,359
book bears witness to the fact that a Jew was

452
00:31:41,400 --> 00:31:45,000
the first theorist in the sphere of speculation and futures.

453
00:31:45,240 --> 00:31:47,759
De la Vega was himself engaged in commerce, and his

454
00:31:47,880 --> 00:31:52,079
treaties clearly reflects the atmosphere in which he lived. D

455
00:31:52,200 --> 00:31:55,119
la Vega's book, in conjunction with the other evidence quoted,

456
00:31:55,200 --> 00:31:57,319
cannot but lead to the conclusion that if Jews were

457
00:31:57,359 --> 00:32:00,319
not actually fathers of the stock exchange business, they were

458
00:32:00,319 --> 00:32:04,279
certainly primarily concerned in his genesis. Should this nevertheless be

459
00:32:04,440 --> 00:32:07,000
skeptically received by some, I have a trump card. In

460
00:32:07,039 --> 00:32:09,480
a way of direct proof and support of it. We

461
00:32:09,559 --> 00:32:12,960
possess a report, probably of the French ambassador in the Hague,

462
00:32:13,119 --> 00:32:15,759
written for his government in the year at sixteen ninety eight,

463
00:32:15,960 --> 00:32:19,319
wherein he distinctly states that the Jews held the stock

464
00:32:19,400 --> 00:32:23,079
exchange business in their hands and shape this development as

465
00:32:23,119 --> 00:32:27,680
they willed. The most salient parent passages here follow Here

466
00:32:27,759 --> 00:32:31,240
follow In the state Holland, the Jews have a good

467
00:32:31,279 --> 00:32:35,640
deal of power, and, according to the prognostications of these

468
00:32:36,119 --> 00:32:40,759
pretended political speculators themselves often unreliable. The prices of these

469
00:32:40,759 --> 00:32:44,240
stocks vary so considerably that they cause transactions to take

470
00:32:44,240 --> 00:32:47,119
place several times a day, transactions which merit the term

471
00:32:47,200 --> 00:32:51,400
wager or bet rather than business. The more so as

472
00:32:51,440 --> 00:32:54,160
the Jews, who dominate this kind of activity are all

473
00:32:54,599 --> 00:32:57,279
are up to all manner of tricks which take in

474
00:32:57,400 --> 00:33:00,720
people even if they be ever so skilled. They are

475
00:33:00,799 --> 00:33:03,920
Jewish brokers and agents, the cleverest of their kind, and

476
00:33:04,039 --> 00:33:07,640
all the world bonds and shares, of all of which

477
00:33:07,759 --> 00:33:11,599
they hold large amounts. The author acquaints it as he

478
00:33:12,240 --> 00:33:15,920
as he as he is, with all the secrets of

479
00:33:15,960 --> 00:33:19,480
stock exchange activity, describes at length how the Jews succeeded

480
00:33:19,480 --> 00:33:22,720
in obtaining the influential position they held on the Amsterdam

481
00:33:22,799 --> 00:33:26,119
Stock Exchange. I will refer much to this later in

482
00:33:26,160 --> 00:33:26,519
the book.

483
00:33:29,079 --> 00:33:36,160
Speaker 4: Well, there you go, basically what they where, derivatives and

484
00:33:36,200 --> 00:33:39,680
stuff comes from. Where this is the financial fuckory that

485
00:33:39,880 --> 00:33:46,920
blew up the the Dutch stock exchange. So futures and options,

486
00:33:47,079 --> 00:33:50,359
we get a good idea of that, right, Yeah, I'm

487
00:33:50,400 --> 00:33:55,240
basically buying something right to kind of I'm hedging. I'm

488
00:33:55,319 --> 00:33:59,759
hedging my risk, right, Farmers, commodity producers, these people have risks.

489
00:34:00,960 --> 00:34:04,240
I don't know, Pick any piece of equipment on a mind,

490
00:34:04,279 --> 00:34:07,880
whether it's one of those bulldozers or dumb trucks the

491
00:34:07,920 --> 00:34:11,599
size of like, you know, thirty semi trailers tacked on

492
00:34:11,639 --> 00:34:14,599
top of each other. One of those things is about

493
00:34:14,639 --> 00:34:21,039
thirty forty million dollars just one dumb truck. You're investing

494
00:34:21,320 --> 00:34:27,679
serious amounts of money, and with other businesses there's ways

495
00:34:27,719 --> 00:34:31,239
to hedge risk. But when it comes to real materials,

496
00:34:31,360 --> 00:34:33,719
either you're you know, digging real things out of the

497
00:34:33,719 --> 00:34:40,119
ground or growing real things, that relationship is with you

498
00:34:40,239 --> 00:34:43,679
and nature. That's it, right, There's not like a counterparty

499
00:34:44,519 --> 00:34:48,760
that's you know that you can negotiate downwards and say, hey, man,

500
00:34:49,000 --> 00:34:50,719
I'm taking a huge risk on this. You need to

501
00:34:50,719 --> 00:34:53,440
come off on price or you need to come up

502
00:34:53,480 --> 00:34:58,079
in price. Whichever mother Nature makes no deals, has no

503
00:34:58,199 --> 00:35:04,840
terms to offer you. So these things are necessities. But

504
00:35:04,880 --> 00:35:12,039
what happened is people got the bright idea. People got

505
00:35:12,039 --> 00:35:19,280
the idea to use futures and options contracts on stocks. Well,

506
00:35:19,480 --> 00:35:25,199
I've added another layer of variability here. So instead of

507
00:35:25,239 --> 00:35:33,960
like whether the fucking crops grow, which they do every time, well,

508
00:35:34,000 --> 00:35:36,840
now it's a company. It's whether a company can make

509
00:35:36,880 --> 00:35:40,719
money or not. Well, what if somebody's stealing or what

510
00:35:40,760 --> 00:35:44,360
if they run a bad businesss? Like what if a

511
00:35:44,440 --> 00:35:49,000
bunch of Jewish guys are speculating on the stock like

512
00:35:49,559 --> 00:35:53,320
Sombart just talked about driving the price up and down,

513
00:35:54,679 --> 00:35:58,639
buying and selling it several times a day. Well, now

514
00:36:00,320 --> 00:36:02,920
if you're the guy that happens to have a contract

515
00:36:02,920 --> 00:36:07,519
to buy that stock at a predetermined price. Some jews

516
00:36:07,559 --> 00:36:11,360
speculating the price up and down wildly is going to

517
00:36:11,400 --> 00:36:16,880
destroy you because in the day and basically what they

518
00:36:16,880 --> 00:36:19,639
would do is they'd buy all these options really really cheap,

519
00:36:21,800 --> 00:36:25,719
and then they would drive the stock up through speculation,

520
00:36:27,679 --> 00:36:32,800
getting many, many multiples on their money. That's all well

521
00:36:32,840 --> 00:36:40,159
and good if the stock keeps on being a functional company.

522
00:36:40,679 --> 00:36:43,199
When that doesn't happen, now you're on the hook for

523
00:36:43,679 --> 00:36:48,000
hundreds of times your money. What leverage gives you on

524
00:36:48,039 --> 00:36:52,679
the way up, it takes away ten times faster on

525
00:36:52,760 --> 00:36:55,719
the way down. Go ahead.

526
00:36:57,599 --> 00:37:02,079
Speaker 2: So I think it's also interesting to just kind of

527
00:37:02,079 --> 00:37:05,280
clarify what a company is at this time where this

528
00:37:05,360 --> 00:37:08,920
came from, because this is not your modern conception of

529
00:37:08,960 --> 00:37:15,159
a company. Sixteenth century England, in this world in which

530
00:37:15,199 --> 00:37:18,639
this is taking place, it was a franchise government, so

531
00:37:19,360 --> 00:37:24,480
offices and positions within it tied to the nobility. These

532
00:37:24,480 --> 00:37:28,039
are both a public service and private property at the

533
00:37:28,079 --> 00:37:30,960
same time, and that is sort of enabling people to

534
00:37:30,960 --> 00:37:34,440
have social and financial advancement. So these people that are

535
00:37:34,440 --> 00:37:38,800
forming a joint stock company initially these are just merchant

536
00:37:38,920 --> 00:37:43,440
adventurers within the city of London, but very rapidly nobles

537
00:37:43,440 --> 00:37:46,880
start to get more involved because there's certain privileges that

538
00:37:46,920 --> 00:37:49,559
have to come down from the king. Royal charters have

539
00:37:49,599 --> 00:37:52,320
to be approved for certain elements and.

540
00:37:52,280 --> 00:37:55,239
Speaker 4: So protected from piracy, you have some back flag on

541
00:37:55,280 --> 00:37:55,719
your boat.

542
00:37:56,320 --> 00:38:00,800
Speaker 2: And this also within the country. Like a company in

543
00:38:01,639 --> 00:38:06,199
early modern and medieval England, this merchant adventurers group, it's

544
00:38:06,199 --> 00:38:11,440
not only a commercial association, but it's also a religious enterprise.

545
00:38:12,079 --> 00:38:16,440
It's a mutual assistance society, it's a quasi government council,

546
00:38:17,000 --> 00:38:21,840
and it's a guild. And this idea mostly originates in

547
00:38:21,960 --> 00:38:25,960
these Dutch and Italian conceptions of a company. This is

548
00:38:26,000 --> 00:38:27,639
why like a lot of.

549
00:38:27,639 --> 00:38:29,239
Speaker 4: Christian conceptions of a company.

550
00:38:29,280 --> 00:38:32,599
Speaker 2: You mean exactly, yes, exactly Christian consumptions of a company.

551
00:38:32,639 --> 00:38:33,360
Speaker 3: This is a lot of.

552
00:38:33,519 --> 00:38:39,719
Speaker 4: Area over in the Transylvanians, right, The Transylvanian Germans basically

553
00:38:39,760 --> 00:38:47,039
operated like this up until the time of the Communist Revolution. Sorry,

554
00:38:47,119 --> 00:38:50,559
like the Georgian Revolution happened like or sorry, Romanian Revolution

555
00:38:50,679 --> 00:38:52,960
like right before the Communist Revolution, so maybe like what

556
00:38:53,119 --> 00:38:58,639
thirty forty years when they Anyways, the Transylvanian Germans operated

557
00:38:58,840 --> 00:39:03,079
on exactly as system of guilds right and father and

558
00:39:03,119 --> 00:39:07,800
sown businesses as Philos is describing right now. And a

559
00:39:07,880 --> 00:39:10,760
tiny we'll call it like an area the size of

560
00:39:11,079 --> 00:39:18,039
you know, Connecticut, maybe Massachusetts, dominated all of Romania, all

561
00:39:18,079 --> 00:39:24,000
of eastern Europe. Really, the best armaments, the best watch,

562
00:39:24,400 --> 00:39:29,199
the best of everything in Europe at that time wasn't

563
00:39:29,239 --> 00:39:35,519
made in Paris, right, or Milan or Rome. It was

564
00:39:35,519 --> 00:39:41,039
made in fucking Transylvania by a series of guilds that

565
00:39:41,199 --> 00:39:47,360
created a governance. So basically it he's talking about public

566
00:39:47,440 --> 00:39:55,599
and private benefit. And so who sets water policy? Well,

567
00:39:55,639 --> 00:39:58,480
the guys that are in charge of the water h

568
00:40:00,400 --> 00:40:05,280
the water treatment plant, right, the plumbers Guild. Okay, Well,

569
00:40:06,360 --> 00:40:11,280
the plumbers Guild is responsible for all of the public

570
00:40:11,320 --> 00:40:17,840
water works. It pays its taxes, so it puts in

571
00:40:17,920 --> 00:40:24,519
its contribution to the larger society by building all of

572
00:40:24,559 --> 00:40:30,880
the water infrastructure in the city. And what about the

573
00:40:31,519 --> 00:40:34,400
builders guild, What about the building? How are they paying

574
00:40:34,400 --> 00:40:38,000
their taxes? Oh? Well, they're paying for out of their

575
00:40:38,039 --> 00:40:42,039
pocket the building of the public buildings and maintaining them.

576
00:40:42,679 --> 00:40:47,239
The blacksmith Guild is doing the same thing. And the

577
00:40:47,320 --> 00:40:54,280
maintenance of this infrastructure becomes flawless because the actual guild

578
00:40:54,320 --> 00:40:58,119
people are on the hook when it breaks. I'm going

579
00:40:58,159 --> 00:41:01,320
to build the best quality thing ever, and I'm going

580
00:41:01,320 --> 00:41:06,840
to maintain it amazingly because if it breaks, A, I'm

581
00:41:06,840 --> 00:41:09,760
going to be blamed for it, and B it's my

582
00:41:10,000 --> 00:41:14,760
pocket that's going to be repairing it. So the guild

583
00:41:14,840 --> 00:41:18,239
system for public and private benefit, this is what he's

584
00:41:18,280 --> 00:41:23,400
talking about, right, So companies at this time were also

585
00:41:23,440 --> 00:41:26,880
a public good. It's a lot easier for the nobleman

586
00:41:26,960 --> 00:41:29,079
to say, well, how about you just build all this

587
00:41:29,079 --> 00:41:33,320
shit for me, and rather than you trying to, you know,

588
00:41:34,679 --> 00:41:37,599
hide the amount of money you make and basically me,

589
00:41:38,639 --> 00:41:41,480
you know, tossing your office to find out how much

590
00:41:41,480 --> 00:41:45,480
money you actually made and then extract taxes out of you.

591
00:41:46,159 --> 00:41:48,840
I have things that are expensive that need to be done,

592
00:41:49,559 --> 00:41:51,039
so how about you just do those things?

593
00:41:55,679 --> 00:41:58,280
Speaker 2: And there's two interesting ideas also to add into this.

594
00:41:58,760 --> 00:42:00,559
The first one is that I think this is the

595
00:42:00,599 --> 00:42:05,199
actual definition of sovereignty, and I think there's huge lessions

596
00:42:05,239 --> 00:42:08,840
for the right. Mike Maxwell's book travel Future of the West,

597
00:42:09,320 --> 00:42:13,519
it goes into all these examples of sovereignty shout out

598
00:42:13,519 --> 00:42:15,360
to him. He had a great interview on your show.

599
00:42:15,679 --> 00:42:18,559
But this is the origin point of future sovereignty. A

600
00:42:18,639 --> 00:42:22,719
reminded Stormy of when on your latest sub stack posting

601
00:42:22,760 --> 00:42:25,920
you were talking about the trade unions in Nazi Germany,

602
00:42:26,280 --> 00:42:29,239
and in this country we used to have the longshore

603
00:42:29,280 --> 00:42:34,519
men stevedores, who used to have auto workers' unions. These systems,

604
00:42:34,639 --> 00:42:40,599
the mentality of a corporation that, without prompting, without regulation,

605
00:42:41,320 --> 00:42:45,400
that of its own sense of obligation, would give more

606
00:42:45,440 --> 00:42:48,480
than just a watch and a handshake to someone when

607
00:42:48,480 --> 00:42:51,360
they left, they would pay out that person's pension for

608
00:42:51,440 --> 00:42:55,239
the rest of their life. That sense of obligation comes

609
00:42:55,280 --> 00:43:00,400
from this original organization of a corporation. And when let's

610
00:43:00,440 --> 00:43:03,760
get a warm and fuzzy about what a business is

611
00:43:03,840 --> 00:43:07,679
and what business make America rate, it all has to

612
00:43:07,760 --> 00:43:13,000
derive from this original conception of the corporation's obligations to

613
00:43:13,159 --> 00:43:15,039
its members, to its employees.

614
00:43:16,840 --> 00:43:20,039
Speaker 4: And it as much easier, as Hitler says, for me

615
00:43:20,119 --> 00:43:23,519
to turn a trade unionist into a national socialist to

616
00:43:23,559 --> 00:43:27,480
give to give him back to his nation, as it

617
00:43:27,519 --> 00:43:32,000
is for me to make a bourgeois conservative a revolutionary.

618
00:43:33,920 --> 00:43:36,360
So Hitler says, like your people that you pull from

619
00:43:37,280 --> 00:43:41,440
are going to be lower to middle working class. Right,

620
00:43:41,920 --> 00:43:45,119
The more on the margins, the better. The more on

621
00:43:45,159 --> 00:43:48,679
the margins, the more they're in need of you to

622
00:43:48,760 --> 00:43:52,079
help them, and the more willing they are to make

623
00:43:52,159 --> 00:44:00,639
revolutionary change. Also, they're inherently patriotic, fiercely patriotic that works

624
00:44:01,559 --> 00:44:07,400
at GM his entire life. He knows the Mercedes is

625
00:44:07,440 --> 00:44:11,039
a better car, he knows it. But if you ask

626
00:44:11,119 --> 00:44:13,079
him what the best car in America or in the

627
00:44:13,079 --> 00:44:18,800
world is, He's going to tell you a Cadillac. Why

628
00:44:18,880 --> 00:44:21,360
is it the best car in the world, because he

629
00:44:21,480 --> 00:44:28,360
fucking built it. That's why they're patriotic, Because their patriotisms

630
00:44:28,400 --> 00:44:32,719
as some total of their labor. They are interlinked and inseparable.

631
00:44:34,960 --> 00:44:37,760
I mean you can literally just have this in like

632
00:44:37,800 --> 00:44:43,800
a gun debate with a Swiss guy and a German guy.

633
00:44:44,000 --> 00:44:49,760
Speaker 2: Anyways, Yeah, I mean, I think when I consider politically

634
00:44:49,760 --> 00:44:51,400
how this came to be, I mean, how we went

635
00:44:51,440 --> 00:44:55,280
from a guild system or at least something that mimics

636
00:44:55,320 --> 00:45:00,559
it within a company to this just utterly atomized, distractive

637
00:45:00,679 --> 00:45:04,559
world of an AI bubble of infinite jeets h one

638
00:45:04,679 --> 00:45:08,159
B types. I was really thinking about the political theory

639
00:45:08,199 --> 00:45:10,039
behind it. It has to do with the divine right

640
00:45:10,079 --> 00:45:14,559
of kings. The divine right of kings was that was

641
00:45:14,599 --> 00:45:18,440
the prominent political theory in this time period where these

642
00:45:18,440 --> 00:45:21,480
mechanisms are being set up. And on the one hand

643
00:45:21,559 --> 00:45:24,519
you have Filmer or Hicks. They're asserting the state is

644
00:45:24,559 --> 00:45:28,000
the natural outgrowth of a theory of compact under the king,

645
00:45:28,639 --> 00:45:31,840
the nobless oblige that's present, the state has an obligation

646
00:45:31,920 --> 00:45:35,920
to provide for its citizenry. Then on the other hand,

647
00:45:36,159 --> 00:45:39,679
obviously who went out in the Enlightenment. It's Locke and Hobbs,

648
00:45:40,360 --> 00:45:43,280
and to them the state is largely a mechanical instrument

649
00:45:43,800 --> 00:45:46,599
and this eventually leads to the rise of the concept

650
00:45:46,639 --> 00:45:50,639
of utility. And I would also point out that people

651
00:45:50,679 --> 00:45:54,079
think this is ideas that came about in the Enlightenment,

652
00:45:54,159 --> 00:45:58,760
and then American Revolution happened, and then liberalism happened after that.

653
00:45:59,159 --> 00:46:01,639
If you look at the origin points of the English

654
00:46:01,719 --> 00:46:05,920
Civil War, it is far more modern of a war

655
00:46:06,480 --> 00:46:10,760
and how it debates the guild and nobility against the

656
00:46:11,480 --> 00:46:14,280
atomized mercantilist individuals that are beginning.

657
00:46:14,480 --> 00:46:16,840
Speaker 4: Even Wikipedia will tell you that that's the that's the

658
00:46:16,880 --> 00:46:19,559
source of the Enlightenment. We don't even have to try

659
00:46:19,599 --> 00:46:24,760
and sell you on it, exactly. Cromwell's revolution is where

660
00:46:24,800 --> 00:46:29,480
we get the Enlightenment from. More important, interestingly enough, William

661
00:46:29,480 --> 00:46:34,000
of Orange. Who was he overthrowing?

662
00:46:36,840 --> 00:46:44,119
Speaker 2: Uh it wasn't Charles, yeah, trust a second, it.

663
00:46:44,039 --> 00:46:53,280
Speaker 4: Was overthrowing Catholicism. Who was Cromwell overthrowing?

664
00:46:55,840 --> 00:46:57,960
Speaker 2: It was the Catholics in the Uh there's all the

665
00:46:58,719 --> 00:47:01,239
exactly all the I mean, it was the whole like.

666
00:47:02,920 --> 00:47:06,679
Speaker 4: Reference was a disaster for the for the Christian faith

667
00:47:06,840 --> 00:47:10,159
in Europe, in the world because we spread it to

668
00:47:10,239 --> 00:47:14,599
the world and it was and before Protestants get nuts,

669
00:47:14,639 --> 00:47:17,440
real quick, let me just throughout a caveat. It was

670
00:47:17,480 --> 00:47:24,119
fifty percent Rome's fault. Actually, you probably say larger papal

671
00:47:24,199 --> 00:47:31,639
pig headedness, Italian pig headedness and their inability to let

672
00:47:31,679 --> 00:47:37,559
Germans worship like Germans, Germanics let Swedes worship like Swedes,

673
00:47:37,679 --> 00:47:41,440
and Englishmen worship like Englishmen. You know, because these are

674
00:47:41,519 --> 00:47:45,000
very I mean, all of those three different cultures have

675
00:47:45,239 --> 00:47:52,360
very distinct concepts of display of wealth, right Like the

676
00:47:52,400 --> 00:47:54,519
English you have like this the concept of stealth wealth

677
00:47:55,239 --> 00:48:01,199
and anything Sweden any type of any type of gaudiness

678
00:48:01,280 --> 00:48:08,360
or showiness, right, or ostentatiousness in any way is you know,

679
00:48:08,440 --> 00:48:14,280
it's it's it's basically socially insulting because of the rest

680
00:48:14,280 --> 00:48:19,039
of their culture. So you basically had you had to worship,

681
00:48:19,599 --> 00:48:25,280
and you had to do things Rome's way, and the

682
00:48:25,280 --> 00:48:31,320
Pope refused to, you know, convene of a a council

683
00:48:31,360 --> 00:48:35,400
of bishops, which he should have considering the amount of

684
00:48:35,440 --> 00:48:41,360
dissent whatever, so that it was equally Room's fault. But

685
00:48:41,639 --> 00:48:45,320
everyone needs to put this bullshit aside because what the

686
00:48:45,360 --> 00:48:51,039
Catholic Church was the vehicle. It's the only thing that

687
00:48:52,039 --> 00:49:00,360
combats a decentralized money network of people like this. It's

688
00:49:00,400 --> 00:49:03,320
the only place where you it's the only thing that

689
00:49:03,400 --> 00:49:09,599
has the tools that you need, right, the head count

690
00:49:09,679 --> 00:49:15,280
in the places and the bank account in the right places. Right.

691
00:49:15,280 --> 00:49:21,360
So when you fractured the Christian Church, where did all

692
00:49:21,360 --> 00:49:23,599
that Catholic wealth that was in all those plays, all

693
00:49:23,639 --> 00:49:29,159
of these countries that went Protestant go? It got stolen

694
00:49:29,239 --> 00:49:34,280
to pay the national debts he's talking about, that got raided.

695
00:49:36,320 --> 00:49:40,679
So you basically cut out the legs from the only

696
00:49:40,760 --> 00:49:47,639
institution that was capable of stopping people like this, they

697
00:49:47,679 --> 00:49:53,639
have more money than kings. The Protestant Church is basically

698
00:49:53,679 --> 00:49:57,400
a nationalist church, right that you can call Lutheranism h

699
00:49:59,440 --> 00:50:04,960
German Anglicanism. Well, it's a little bit more obvious. But

700
00:50:05,000 --> 00:50:09,480
when the people that are destroying your civilization are the

701
00:50:09,519 --> 00:50:13,079
ones lending money to the King of England or lending

702
00:50:13,119 --> 00:50:16,760
money to any of the other nation states they have,

703
00:50:17,039 --> 00:50:21,840
they're lending money because they have more money than that person. Right,

704
00:50:22,079 --> 00:50:27,800
Catholicism was a way to centralize Christian financial and political power,

705
00:50:29,039 --> 00:50:33,760
and Europe has never been the same since, and every

706
00:50:33,760 --> 00:50:37,719
time it attempts to reassert itself, these magic revolutions kick

707
00:50:37,760 --> 00:50:43,800
off magically and funded by coincidence people.

708
00:50:46,599 --> 00:50:51,039
Speaker 2: Exactly. I don't have much to add on that other

709
00:50:51,119 --> 00:50:55,559
than some smaller points that I've found. For that, I'm

710
00:50:55,559 --> 00:50:57,239
going to scribble names.

711
00:50:58,079 --> 00:51:00,360
Speaker 4: Not the people that propagate that's not people that oropagate

712
00:51:00,400 --> 00:51:04,559
this bullshit, but the individual bankers that financed William of Orange,

713
00:51:04,639 --> 00:51:10,320
because we can pull quotes about from the bank from

714
00:51:10,360 --> 00:51:15,440
the Jew himself that lent William of Orange all of

715
00:51:15,440 --> 00:51:20,639
his money, telling you exactly how many times how much

716
00:51:21,119 --> 00:51:24,800
he was going to make in returns. Right, He's like, yeah,

717
00:51:24,800 --> 00:51:27,880
I'm going to invest all this money, all of that.

718
00:51:28,280 --> 00:51:30,039
I can't remember how many guilders, and he was three

719
00:51:30,079 --> 00:51:34,960
million guilders in William of Orange, because I'm going to

720
00:51:35,000 --> 00:51:41,840
make seven times my money back in his victory. Like

721
00:51:42,039 --> 00:51:45,599
they will tell you what they're doing. The idea that

722
00:51:45,639 --> 00:51:50,679
these things occurred organically, or that anybody other than these

723
00:51:50,679 --> 00:51:53,800
people are in financial control of these places post revolution

724
00:51:55,480 --> 00:51:59,119
is dishonesty, because all you have to type in is

725
00:51:59,239 --> 00:52:03,920
Oliver crumb Well and the blank, and your search bar

726
00:52:04,000 --> 00:52:09,400
will fill in. The Jews, right, they're proud of it.

727
00:52:09,480 --> 00:52:12,679
We can go to Jewish you know Jewish, my Jewish

728
00:52:12,760 --> 00:52:17,639
Daily Learning or whatever. They'll tell you William of Orange

729
00:52:17,679 --> 00:52:23,280
and the blank. Your search engine will snitch you up,

730
00:52:23,320 --> 00:52:26,519
but will tell you more than people are telling each

731
00:52:26,559 --> 00:52:32,079
other now in our spheres. They're not shy about it.

732
00:52:32,199 --> 00:52:33,960
I mean, would you be if you made seven times

733
00:52:33,960 --> 00:52:37,199
your money. Let's talk about the City of London.

734
00:52:38,840 --> 00:52:44,400
Speaker 2: Sure, I'll I'll just briefly talk about London Exchange and

735
00:52:44,599 --> 00:52:47,960
Bank and then mercantile banks and then City of London.

736
00:52:48,760 --> 00:52:51,519
Speaker 4: So yeah, this is equally as well documented. This is

737
00:52:51,519 --> 00:52:53,440
a silly that we have to do this, but it

738
00:52:53,480 --> 00:52:54,239
needs to be done.

739
00:52:54,639 --> 00:52:59,360
Speaker 2: It also lines up perfectly chronologically with an Anglo Dutch invasion,

740
00:52:59,480 --> 00:53:03,000
like they install a king on the English throne. The

741
00:53:03,039 --> 00:53:07,679
newly formed lending exchange was created by Sir Thomas Gresham.

742
00:53:08,199 --> 00:53:12,480
It was simply that gold exchange and money lending practice.

743
00:53:12,480 --> 00:53:16,920
But then after the Anglo Dutch thing in sixteen eighty eight, boom,

744
00:53:16,920 --> 00:53:20,480
it just becomes filled with all of these different elements

745
00:53:20,519 --> 00:53:26,519
of financial tools that were discussed earlier. Notably, Gresham writes

746
00:53:26,559 --> 00:53:33,159
that it's filled with Dutchman, Frenchman, Venetians, Spaniards, Italians and Turks.

747
00:53:34,000 --> 00:53:37,400
He the founder of it, directed the English exchange rate

748
00:53:37,639 --> 00:53:42,519
within Antwerp and also the English information services that are present.

749
00:53:42,719 --> 00:53:45,599
And then sixteen eighty eight a Scottish man named William

750
00:53:45,639 --> 00:53:49,159
Patterson began finalizing his work on a bank. A bank

751
00:53:49,199 --> 00:53:52,880
functionally provides a high degree security, reduced interest rate, and

752
00:53:52,920 --> 00:53:56,440
a paper currency. It takes about six years to clear Parliament,

753
00:53:56,480 --> 00:53:59,039
but in July of sixteen ninety four, the Bank of

754
00:53:59,079 --> 00:54:04,159
England begins. This enables, in the positive sense to Stormy's

755
00:54:04,159 --> 00:54:07,719
earlier point, industrialization in the Great Titans of English industry,

756
00:54:08,119 --> 00:54:12,119
English metallurgy, textiles, pottery, and engineering. They all begin to

757
00:54:12,159 --> 00:54:15,440
spring up factories all over the country that are employing workers,

758
00:54:15,800 --> 00:54:18,000
and this is forming a positive feedback loop for a

759
00:54:18,079 --> 00:54:21,880
vast colonial empire in the eighteenth century, which is subsequent.

760
00:54:22,360 --> 00:54:26,599
If you look at a map, London is geographically situated

761
00:54:26,639 --> 00:54:31,840
on waterways, which is extremely convenient for international trade and

762
00:54:32,000 --> 00:54:36,480
internally within England the water system that's there. London also

763
00:54:36,559 --> 00:54:40,079
surpasses Amsterdam at this point as the hub of commerce

764
00:54:40,119 --> 00:54:44,920
and finance. And so what happens to these joint stock banks?

765
00:54:46,920 --> 00:54:49,800
They are beginning to be reduced over time. And when

766
00:54:49,840 --> 00:54:51,679
I say reduced, I'm just going to fast forward ahead

767
00:54:51,679 --> 00:54:54,199
to the modern example. In eighteen ninety nine there are

768
00:54:54,199 --> 00:54:57,719
one hundred and six joint stock banks. By nineteen eighteen,

769
00:54:57,840 --> 00:55:00,440
after World War One, there are thirty four, and by

770
00:55:00,440 --> 00:55:05,000
the mid nineteen sixties there are just five. Five great

771
00:55:05,119 --> 00:55:11,639
banking houses. These are Barclay's Midland, Lloyd's Westminster and National Provincial.

772
00:55:12,000 --> 00:55:14,400
How big are they in the nineteen sixties they are

773
00:55:14,480 --> 00:55:17,559
seventy five percent of the liquid reserves and means of

774
00:55:17,639 --> 00:55:22,199
payment of the economy in Great Britain. How do they operate?

775
00:55:22,519 --> 00:55:25,440
This will transition us into city of London. The five

776
00:55:25,519 --> 00:55:29,000
banks have multiple global affiliates. They were in the British

777
00:55:29,039 --> 00:55:33,480
Overseas Bankers Association. They are all headquartered in London. This

778
00:55:33,559 --> 00:55:36,360
is what makes the city of London an extremely powerful

779
00:55:36,400 --> 00:55:39,559
tool of the globalists. Prior to the nineteen sixties, as

780
00:55:39,599 --> 00:55:43,840
a counter example, United States banking was mostly investing again

781
00:55:43,960 --> 00:55:49,400
in itself, while the British banking system throughout the eighteenth,

782
00:55:49,519 --> 00:55:53,280
nineteenth and twentieth centuries it's better adapted to international trade

783
00:55:53,679 --> 00:55:57,800
and foreign operations. So we can then pivot into the

784
00:55:57,840 --> 00:55:59,519
history of the city of London itself.

785
00:56:00,280 --> 00:56:06,920
Speaker 4: So the funny enough Francisco Lopez Suauza, right, the founder

786
00:56:07,000 --> 00:56:13,639
of the Glorious Revolution, who gave William here's a direct

787
00:56:13,679 --> 00:56:21,800
here's an interesting quote. The Safari population of London was

788
00:56:21,840 --> 00:56:26,039
little over five hundred families at the time, because they

789
00:56:26,079 --> 00:56:29,840
sought that under William London would be transformed into a

790
00:56:29,840 --> 00:56:33,079
city where Safari Jews would feel as secure and as

791
00:56:33,199 --> 00:56:36,559
home as they had long felt in Amsterdam. It would

792
00:56:36,599 --> 00:56:39,760
even seem that William's expedition to England at the head

793
00:56:39,800 --> 00:56:43,159
of his Dutch army and the ouster of the Stuarts,

794
00:56:43,599 --> 00:56:47,360
was largely financed by Lopez and other Safardi Jews, one

795
00:56:47,400 --> 00:56:53,480
of whom mentioned, Lopez Francisco Lopez Sausa of the Hague

796
00:56:53,599 --> 00:56:56,760
is believed to have advanced the Prince of Orange an

797
00:56:56,880 --> 00:57:01,360
enormous loan to this end, two million crowns at no interest,

798
00:57:01,440 --> 00:57:04,920
with no guarantees. And then it goes on to cite Wroth,

799
00:57:06,039 --> 00:57:09,559
Kats and Adelman. There's a three separate authors and the

800
00:57:09,599 --> 00:57:14,000
Jews of England, which is another book, page twenty eight,

801
00:57:14,079 --> 00:57:18,559
twenty nine, and it was interested. Nevertheless, proposals were still

802
00:57:18,599 --> 00:57:21,440
being brought forward and acted on that placed burdens and

803
00:57:21,480 --> 00:57:23,480
restrictions on the Jews alone. And at the end of

804
00:57:23,599 --> 00:57:26,440
sixteen eighty nine, for instance, the House of Commons passed

805
00:57:26,440 --> 00:57:31,039
a resolution tax It basically goes on to talk about

806
00:57:31,039 --> 00:57:35,119
how they they continued to tax them n till sixteen

807
00:57:35,199 --> 00:57:40,239
ninety one, which is until you know, William of Orange

808
00:57:40,239 --> 00:57:45,280
got around to pulling every last bit of you can

809
00:57:45,280 --> 00:57:48,440
call it hindrance that was placed on Jews to keep

810
00:57:48,480 --> 00:57:50,880
them out of England. So by the end of sixteen

811
00:57:50,960 --> 00:57:54,679
ninety one, it goes on for still the end of

812
00:57:54,719 --> 00:57:56,719
this there's like two more sentences I think are really

813
00:57:56,760 --> 00:57:59,239
interesting with the passage of time, more and more Jews,

814
00:57:59,320 --> 00:58:02,639
especially the wealth native born so Fardam, were participating in

815
00:58:02,719 --> 00:58:06,599
English social life with no obstacle, as Cecil Roth puts

816
00:58:06,920 --> 00:58:11,599
in a nineteen fifty two book, Acquiring Property, sometimes intermarrying

817
00:58:11,840 --> 00:58:15,320
with gentile women, attending the theater, and as early as

818
00:58:15,400 --> 00:58:19,280
seventeen to twenty three, for instance, Jews had come to

819
00:58:19,440 --> 00:58:26,639
hold the highest offices in Masonic lodges. That's weird. And

820
00:58:26,000 --> 00:58:29,760
to these families, of these five hundred families of the Hague,

821
00:58:30,800 --> 00:58:35,159
a couple of families, some names you might know, right,

822
00:58:35,239 --> 00:58:40,360
we're really pivotal in setting up the city of London.

823
00:58:41,360 --> 00:58:47,440
But before I get distracted about the thirteen dragons, Pete,

824
00:58:47,480 --> 00:58:49,960
remember a while back when you sent me the stock

825
00:58:50,440 --> 00:58:55,360
the original stockholders of the Bank of England, the stock

826
00:58:55,360 --> 00:58:56,119
purchasers list.

827
00:58:58,039 --> 00:58:59,159
Speaker 3: It was a while while ago.

828
00:58:59,440 --> 00:59:06,000
Speaker 4: Yeah, yep, A Solomon Lopez Suaza was one of them.

829
00:59:06,320 --> 00:59:09,559
He was the largest holder, I believe at the time.

830
00:59:09,599 --> 00:59:12,960
He probably I mean, those shares have probably moved about.

831
00:59:13,159 --> 00:59:19,480
But it was like two hundred people participated, of varying

832
00:59:19,519 --> 00:59:24,719
degrees in the Bank of England's initial stock offering. I

833
00:59:24,760 --> 00:59:30,920
did the math. Over eighty percent were Sefardim Jews. That's

834
00:59:30,920 --> 00:59:35,519
who I was, the Bank of England. This is who

835
00:59:35,559 --> 00:59:38,320
set up the City of London to try and pretend

836
00:59:38,320 --> 00:59:47,679
it to anything. Besides, this is retarded. And the thirteen families,

837
00:59:47,679 --> 00:59:49,480
the thirteen biggest families of the City of London. And

838
00:59:49,480 --> 00:59:51,679
then we can just look up the thirteen dragons of

839
00:59:51,719 --> 00:59:56,960
the City of London. They all have interesting little statues. Literally,

840
00:59:56,960 --> 00:59:59,400
they have demon statues on every court of every street

841
01:00:00,119 --> 01:00:03,039
in the City of London. Dragon statues.

842
01:00:04,559 --> 01:00:06,039
Speaker 3: Oh yeah, I've looked those up before.

843
01:00:06,360 --> 01:00:10,400
Speaker 4: It's wild. Yeah, that marked the boundaries of the City

844
01:00:10,400 --> 01:00:14,679
of London, right, so at the corner of every street

845
01:00:14,840 --> 01:00:19,519
where the street intersects with actual London, right, because the

846
01:00:19,519 --> 01:00:22,400
City of London has its own laws, issues its own passports.

847
01:00:22,679 --> 01:00:24,960
And I mean the fucking King of England has to

848
01:00:24,960 --> 01:00:29,119
get written invitation from the City of London to come

849
01:00:29,159 --> 01:00:34,519
to the City of London. He's not invited. Sorry, fourteen,

850
01:00:34,800 --> 01:00:36,320
not sixteen, my bad.

851
01:00:37,400 --> 01:00:41,400
Speaker 2: But storm it's still all urky English tradition. It's just

852
01:00:41,519 --> 01:00:43,320
all so silly.

853
01:00:43,320 --> 01:00:44,039
Speaker 4: It's those.

854
01:00:46,480 --> 01:00:48,559
Speaker 3: Us, those damn Brits. Man.

855
01:00:50,280 --> 01:00:54,800
Speaker 1: Oh god, I want to like it said old. It's

856
01:00:54,800 --> 01:00:57,360
that old European nobility.

857
01:00:58,920 --> 01:01:03,360
Speaker 4: Yeah, Francisco Lopez Suauza.

858
01:01:04,920 --> 01:01:09,440
Speaker 2: And for all the for all the complexity of this system,

859
01:01:09,480 --> 01:01:13,119
it's okay. Let me back up. There are finance centers

860
01:01:13,519 --> 01:01:17,280
all over the world. New York is one, Amsterdam is one,

861
01:01:18,119 --> 01:01:23,239
Tokyo is one. These are not legally the same status

862
01:01:23,320 --> 01:01:27,800
as London. Everyone knows that London is the global financial

863
01:01:27,800 --> 01:01:31,119
capital on the planet period. But what enables it to

864
01:01:31,159 --> 01:01:34,079
be the case is the legal designation of the City

865
01:01:34,119 --> 01:01:37,000
of London. And it is far more than the marketing

866
01:01:37,079 --> 01:01:39,840
terms of oh, it's just some quirky thing. It is

867
01:01:39,960 --> 01:01:43,840
physically a square mile of London that has not materially

868
01:01:43,960 --> 01:01:47,440
changed since the Norman conquest. It is a it's also

869
01:01:47,480 --> 01:01:51,440
not a city. It's a corporation, like a capital C corporation,

870
01:01:52,000 --> 01:01:55,079
and that is understood in law as a legal entity

871
01:01:55,119 --> 01:01:58,800
which is separate from the individuals which comprise it. It

872
01:01:58,800 --> 01:02:01,800
has a corporate spirit and a corporate reputation that is

873
01:02:01,840 --> 01:02:06,679
distinct from its individual members. So in Layman's terms, any

874
01:02:06,800 --> 01:02:10,159
person who is a member of this is legally protected

875
01:02:10,199 --> 01:02:14,760
through its complexities. The Mayor of London, it's not a

876
01:02:14,840 --> 01:02:19,400
municipal position. It's the mayor and the commonality and the

877
01:02:19,440 --> 01:02:22,440
citizens of the City of London, they are members have

878
01:02:22,559 --> 01:02:29,960
said corporation and like a brief aside, the Prime Minister

879
01:02:30,039 --> 01:02:32,800
of Canada is one of these sorts of people. And

880
01:02:33,079 --> 01:02:34,960
the I think, what was it The current mayor of

881
01:02:35,000 --> 01:02:38,039
the City of London is an American. There's this very

882
01:02:38,159 --> 01:02:41,760
incests you. I mean, Carol Quickly writes about this, and

883
01:02:41,800 --> 01:02:44,280
I believe up until the nineteen sixties Carol Quickly is

884
01:02:44,320 --> 01:02:48,079
completely accurate. It's a little strange to have a direct

885
01:02:48,079 --> 01:02:51,119
analog to today. But when he's talking about the Anglo

886
01:02:51,119 --> 01:02:55,440
American establishment, these are the Anglos in the Anglo side

887
01:02:55,440 --> 01:03:00,400
of that. It is not the wasp American Anglo popular.

888
01:03:02,039 --> 01:03:06,800
Speaker 4: That should put the American Revolution into context.

889
01:03:07,159 --> 01:03:09,800
Speaker 2: Exactly, which was ultimately the more I read in this

890
01:03:10,440 --> 01:03:14,199
banking books about it, because I've actually been fortunate enough

891
01:03:14,239 --> 01:03:17,800
to get the original primary source books from the City

892
01:03:17,880 --> 01:03:20,599
of London. I actually was able to find one that

893
01:03:20,679 --> 01:03:23,760
was signed by a US ambassador that was attending one

894
01:03:23,760 --> 01:03:29,519
of these guild dinners. There wild story, but the where

895
01:03:29,639 --> 01:03:34,960
was I within this American Revolution? Everyone knows about the

896
01:03:35,000 --> 01:03:37,239
Stamp Act, and people look at it and say, oh,

897
01:03:37,280 --> 01:03:41,239
it's just a couple interest increases over a small period

898
01:03:41,280 --> 01:03:43,639
of time. What's the big deal with stamps and tea? Well,

899
01:03:43,960 --> 01:03:46,719
what is not like publicly known is that in the

900
01:03:46,840 --> 01:03:50,280
decade or two prior to the seventeen sixty five Stamp Act,

901
01:03:50,840 --> 01:03:54,480
the Bank of England is basically just punishing and punishing

902
01:03:54,519 --> 01:03:59,800
and punishing the American markets, kind of like the friedrich

903
01:03:59,840 --> 01:04:04,000
Le sense of political economy, where it's you you just

904
01:04:04,119 --> 01:04:06,880
taxes and extract as much wealth from the colonies as

905
01:04:06,920 --> 01:04:14,079
possible to benefit the home system, as it were, and

906
01:04:14,119 --> 01:04:15,280
then let's see.

907
01:04:15,880 --> 01:04:17,960
Speaker 4: Yeah, so that's an interesting quote. You can find right

908
01:04:18,039 --> 01:04:22,360
on Wikipedia. There's some English history of English revolutions. Right,

909
01:04:23,199 --> 01:04:25,719
it's like a third pair of town in twelve ninety

910
01:04:25,840 --> 01:04:28,719
King Edward the First of England, he is that meaning

911
01:04:28,800 --> 01:04:32,760
that they depicted in what you call it braveheart, that

912
01:04:32,960 --> 01:04:38,400
mean mean man. That does mean to mel Gibson, also

913
01:04:38,440 --> 01:04:41,280
the guy that threw out all of the Jews. Funny enough,

914
01:04:43,400 --> 01:04:46,119
I had issued edict expelling all the Jews from England. However,

915
01:04:46,360 --> 01:04:50,679
the English Reformation, which started in the fifteen thirties, they

916
01:04:50,719 --> 01:04:59,440
seem to leave out poor mister, poor mister Cromwell like

917
01:04:59,559 --> 01:05:03,159
forty years later, but anyways, that brought a number of

918
01:05:03,239 --> 01:05:08,039
change the English Reformation which started a number of changes

919
01:05:08,079 --> 01:05:11,159
that benefited the Jews. Long term doctrines and rituals of

920
01:05:11,159 --> 01:05:15,679
the Roman Catholic Church that insulted Jews were eliminated, especially

921
01:05:15,800 --> 01:05:23,440
those that emphasized their role as the killers of Christ.

922
01:05:23,840 --> 01:05:31,960
Decide further, anti Catholicism and with the Pope as Antichrist,

923
01:05:32,119 --> 01:05:36,519
came to replace anti Semitism. During the period of the

924
01:05:36,599 --> 01:05:39,719
Revolution and in the period of the English Civil Wars.

925
01:05:39,800 --> 01:05:45,159
Interregnum was marked by both widespread millennial beliefs in the

926
01:05:45,159 --> 01:05:55,840
beginning of religious tolerance throughout England. Significantly millennial millennionarianism in

927
01:05:55,920 --> 01:06:01,280
England often had a strong Hebraist character that emphasized the

928
01:06:01,320 --> 01:06:06,400
study of Hebrew and Judaism. This was sometimes extended by

929
01:06:06,440 --> 01:06:10,480
certain individuals to claim that the English are the descendants

930
01:06:10,519 --> 01:06:14,719
of the ten Lost Tribes of Israel, with Cromwell himself

931
01:06:15,199 --> 01:06:22,000
numbering amongst the supporters of this idea. Oh wow, what

932
01:06:22,159 --> 01:06:29,159
a crazy, crazy thing to say. Wait, so we're going

933
01:06:29,239 --> 01:06:34,800
to replace those doctrines that insulted the Jews. Those were eliminated,

934
01:06:34,840 --> 01:06:38,920
and especially those that emphasized their role as the killers

935
01:06:40,920 --> 01:06:47,960
of God Jesus Christ and further replacing the anti Semitism

936
01:06:48,559 --> 01:06:55,000
with anti Catholicism, and instead of the Jews as Antichrist,

937
01:06:56,079 --> 01:06:59,880
that naughty Pope is Antichrist.

938
01:07:00,079 --> 01:07:06,320
Speaker 2: Resting, So the next two sources I got for you,

939
01:07:06,679 --> 01:07:09,760
these are the originals from the City of London. The

940
01:07:09,800 --> 01:07:12,239
first is the nineteen sixties book The Guilds of the

941
01:07:12,280 --> 01:07:17,480
City of London. Second is the Guild of Freemen of

942
01:07:17,519 --> 01:07:20,280
the City of London. That's the one signed by the Ambassador.

943
01:07:20,840 --> 01:07:25,960
So this is all straight from the horse's mouth, tying

944
01:07:25,960 --> 01:07:28,519
that into sort of the Semitic question. If you will,

945
01:07:29,320 --> 01:07:32,239
the freemen of the City of London, they have the

946
01:07:32,320 --> 01:07:35,800
right to trade, they're admitted to the franchise. They have

947
01:07:35,840 --> 01:07:38,880
a freedom from tolls all throughout England and a freedom

948
01:07:38,920 --> 01:07:42,800
from custom in London. That privilege is twelve hundred years old.

949
01:07:43,760 --> 01:07:47,559
So taking it back to the very beginning, Alfred the Great,

950
01:07:47,599 --> 01:07:50,480
the one who was against usury in Mercia, he re

951
01:07:50,719 --> 01:07:55,880
establishes this entity in his reign the City of London.

952
01:07:56,400 --> 01:08:01,599
But then separately William the Conqueror, who's backed by the Italians.

953
01:08:02,960 --> 01:08:09,000
If you will, the Jews, they explicitly confirm legal distinct

954
01:08:09,039 --> 01:08:12,079
rights to the city. That is, when the policy is

955
01:08:12,159 --> 01:08:16,119
established that the king must recognize the city's special status

956
01:08:16,279 --> 01:08:19,479
in order to enter it. So are you really a

957
01:08:19,640 --> 01:08:22,359
king if you have to ask permission to enter your

958
01:08:22,399 --> 01:08:28,079
own capital. At the same time, with this city of

959
01:08:28,079 --> 01:08:31,520
London having special status, because at this time, very early on,

960
01:08:31,600 --> 01:08:36,640
it's more like a walled fortress than a distinct city

961
01:08:36,680 --> 01:08:40,199
in the classic sense. Westminster and other fortresses are built

962
01:08:40,199 --> 01:08:43,439
around it physically to try and compete with it, but

963
01:08:43,600 --> 01:08:47,399
they are unable to. In the eleven nineties, a distinction

964
01:08:47,479 --> 01:08:52,039
is already apparent between the citizens of London and people

965
01:08:52,079 --> 01:08:56,479
that just live in London. Within the city, there are

966
01:08:56,520 --> 01:09:01,000
something called Liverley Guilds of London. These are usually known

967
01:09:01,039 --> 01:09:09,680
as the city companies. Essentially like throughout the history, so okay,

968
01:09:09,680 --> 01:09:12,199
early Middle Ages, there's a Black Death. Part of that

969
01:09:12,359 --> 01:09:17,239
is what led and transitioned us from feudalism to the

970
01:09:17,319 --> 01:09:21,039
joint stock company. Because there are fewer skilled trafts like

971
01:09:21,239 --> 01:09:24,600
tradesmen and craftsmen, so they begin to conglomerate and centralize

972
01:09:24,640 --> 01:09:27,640
in the cities and form guilds to protect themselves because

973
01:09:27,680 --> 01:09:31,880
they have a very specialized amount of knowledge that's essentially

974
01:09:32,000 --> 01:09:35,319
like the cultural origin point of these corporations a couple

975
01:09:35,439 --> 01:09:39,319
hundred years before they were to become the Capital C corporation.

976
01:09:40,680 --> 01:09:43,119
But that has a social effect within the City of London,

977
01:09:43,640 --> 01:09:46,279
so they start creating rules in order to systematize their

978
01:09:46,319 --> 01:09:50,800
society and to distinguish their guilds men from commoners. In

979
01:09:50,840 --> 01:09:54,279
the Middle Ages, this was men wearing their guild colors

980
01:09:54,279 --> 01:09:59,079
with emblems denoting rank. What that is functionally, It's a

981
01:09:59,119 --> 01:10:03,000
straightforward of saying, if you fuck with me in business

982
01:10:03,279 --> 01:10:05,600
or in life, a whole bunch of people are going

983
01:10:05,640 --> 01:10:09,119
to have my back and ruin your life. That's what

984
01:10:09,319 --> 01:10:12,159
the function of a guild is. I mean, the mafia

985
01:10:12,199 --> 01:10:16,960
structure is very similar. In general. Any of these guild

986
01:10:17,039 --> 01:10:18,039
systems are like this.

987
01:10:18,960 --> 01:10:21,520
Speaker 4: But continuing on, by the way, they have diplomatic community.

988
01:10:22,159 --> 01:10:24,800
Speaker 2: Oh yeah, I don't know if they have their own passport.

989
01:10:24,960 --> 01:10:26,439
They probably have their own passports.

990
01:10:26,720 --> 01:10:29,199
Speaker 4: The Bank of International Settlements has their own passport.

991
01:10:29,239 --> 01:10:35,000
Speaker 2: Bro here you go. There is also a direct lineage

992
01:10:35,039 --> 01:10:37,359
between these early guilds. This is all City of London

993
01:10:37,399 --> 01:10:41,840
primary source stuff. There is a lineage between the early

994
01:10:41,920 --> 01:10:43,760
guilds and what was to become the Grand Ladge of

995
01:10:43,840 --> 01:10:48,840
Freemation Sins that was formally established in seventeen seventeen. But

996
01:10:49,600 --> 01:10:52,680
the Hall of Merchant Tailors, which is physically the oldest

997
01:10:52,680 --> 01:10:56,960
building in existence at the time, was there hosting spot

998
01:10:57,000 --> 01:11:01,119
between thirteen thirty one and nineteen forty building prior to

999
01:11:01,159 --> 01:11:04,159
World War Two in its destruction hosted the Grand Lodge

1000
01:11:04,199 --> 01:11:09,560
of Freemasons. And there's also crossover where what's what When

1001
01:11:09,560 --> 01:11:13,000
the Knights Templar was kind of destroyed, they sort of

1002
01:11:14,000 --> 01:11:17,880
generally went to Amsterdam and London. As I understand it,

1003
01:11:19,079 --> 01:11:21,359
these guilds in these systems within the City of London,

1004
01:11:21,760 --> 01:11:24,520
they began to gain power and wealth throughout the Middle Ages.

1005
01:11:25,000 --> 01:11:29,359
They're forming complete monopolies and they're preventing all competition from outsiders.

1006
01:11:30,800 --> 01:11:34,279
Early on, so prior to the adoption of the Anglo

1007
01:11:34,359 --> 01:11:36,680
Dutch standard where they would bring in people from Amsterdam,

1008
01:11:37,079 --> 01:11:40,479
holland Italy. Whenever these guys would try to show up

1009
01:11:40,520 --> 01:11:43,079
and do business in the City of London, the English

1010
01:11:43,239 --> 01:11:48,760
City of London guilds would physically remove these foreigners. Initially,

1011
01:11:48,800 --> 01:11:51,479
as they're starting out and gaining power and privileges, they're

1012
01:11:51,520 --> 01:11:54,560
appealing to the Mayor's court who was in charge of

1013
01:11:54,600 --> 01:11:57,760
their capital c corporation, which is the original source of

1014
01:11:57,800 --> 01:12:00,760
their authority. But why would you appeal to the Mayor

1015
01:12:00,800 --> 01:12:03,680
of London the City of London, when you can appeal

1016
01:12:03,760 --> 01:12:07,560
just to the Crown itself. So having the advantage of

1017
01:12:07,600 --> 01:12:09,760
having the backing of the Crown for your Royal charter,

1018
01:12:10,199 --> 01:12:14,239
it gives you significantly more powerful legal jurisdiction and authority

1019
01:12:14,279 --> 01:12:18,039
over your trades, and it also gives you complete eternal autonomy.

1020
01:12:18,079 --> 01:12:20,319
Like I said earlier, if you're a City of London,

1021
01:12:20,359 --> 01:12:23,239
you are legally protected from a lot of different tax laws,

1022
01:12:23,880 --> 01:12:28,399
business practices, and now with the Royal Charter you are

1023
01:12:29,439 --> 01:12:32,520
there's no way in which another guild system from another

1024
01:12:32,520 --> 01:12:36,359
city can possibly compete with you. And so you might

1025
01:12:36,399 --> 01:12:38,800
think that having a Royal Charter as a private citizen

1026
01:12:38,840 --> 01:12:41,479
and a private corporation that makes you as powerful as

1027
01:12:41,479 --> 01:12:47,239
a nobleman. Well you're completely correct, and the distinction between

1028
01:12:47,319 --> 01:12:51,439
noblemen and City of London citizen is very very blurry.

1029
01:12:53,079 --> 01:12:56,239
We start getting into the royal involvement here. The earliest

1030
01:12:56,399 --> 01:13:01,399
royal charter for the Weavers Guild pre dates the Magna Carta.

1031
01:13:02,119 --> 01:13:05,279
It was in eleven thirty and it constituted a lordship

1032
01:13:05,560 --> 01:13:09,680
endorsement of their trade as weavers. So each guild is

1033
01:13:09,680 --> 01:13:12,880
sort of tied to a specific industry and the money

1034
01:13:13,359 --> 01:13:17,239
trading on that industry. By fifteen hundred and eighty twenty

1035
01:13:17,239 --> 01:13:20,760
five guilds had corporate rights and powers of jurisdiction the

1036
01:13:20,800 --> 01:13:23,800
Crown and Tudor times and after began to regard the

1037
01:13:23,840 --> 01:13:28,279
city companies which could reliably produce funds for every emergency

1038
01:13:28,560 --> 01:13:31,199
that might befall them. So when Charles the First and

1039
01:13:31,279 --> 01:13:34,239
Charle the Second are pulling massive amounts of money over

1040
01:13:34,279 --> 01:13:38,760
the out of the goldsmiths and the Royal Mint, this

1041
01:13:38,960 --> 01:13:42,560
is their predecessor to it. This is their fund in

1042
01:13:42,640 --> 01:13:46,520
which they basically become debtors too the City of London.

1043
01:13:47,239 --> 01:13:50,960
So there's an interesting little cultural phenomenon. There's the Lord

1044
01:13:51,039 --> 01:13:54,359
Merrit's show. This is the only public appearance of the

1045
01:13:54,399 --> 01:13:56,960
City of London. They actually still do this each year.

1046
01:13:56,960 --> 01:13:59,159
They have a little parade where they all put on

1047
01:13:59,279 --> 01:14:03,199
their guild colors and they formally welcome in the Mayor.

1048
01:14:03,760 --> 01:14:07,079
Usually that has its traditions. After the king would win

1049
01:14:07,119 --> 01:14:11,239
a foreign war or coronation which would be completely sponsored

1050
01:14:11,239 --> 01:14:13,399
by the City of London all the way back through

1051
01:14:13,399 --> 01:14:16,560
English history. Edward the first was welcomed to the City

1052
01:14:16,600 --> 01:14:20,159
of London after the Scottish Campaign, as well as Richard

1053
01:14:20,159 --> 01:14:23,960
the Second and Henry the fifth. So okay, what is

1054
01:14:24,039 --> 01:14:27,199
how can I prove that the City of London owned

1055
01:14:27,279 --> 01:14:30,880
him well? When Henry the Fifth's French queen in fourteen

1056
01:14:31,079 --> 01:14:36,000
twenty commented during this parade about the extravagant cost of it,

1057
01:14:36,560 --> 01:14:39,079
the head of the Guild of Mercers, which is the

1058
01:14:39,119 --> 01:14:42,000
most powerful guild in the City of London, said quote,

1059
01:14:42,039 --> 01:14:45,359
I have something still costlier, and he threw from his

1060
01:14:45,479 --> 01:14:49,079
hand sixty thousand pounds of royal bonds into the fire

1061
01:14:49,520 --> 01:14:52,439
in front of her and King Henry the fifth. That

1062
01:14:52,600 --> 01:14:56,840
is the equivalent of sixty one million pounds sterling or

1063
01:14:57,199 --> 01:15:02,319
eighty three million US dollars today. That's how much money

1064
01:15:02,319 --> 01:15:05,479
and power the City of London had even at that

1065
01:15:05,560 --> 01:15:10,119
time funding. What does the City of London do in

1066
01:15:10,199 --> 01:15:13,680
the mercantilist age in the early modern age, Well, the

1067
01:15:13,720 --> 01:15:17,760
plantation of Ulster and Ireland and the plantation of Virginia

1068
01:15:18,359 --> 01:15:22,920
was founded through the Virginia Company of London. So these

1069
01:15:22,920 --> 01:15:27,279
are massive investments that joint stock that guild system is

1070
01:15:27,680 --> 01:15:33,279
paying for the colonialism of the crown. Ostensibly, the City

1071
01:15:33,279 --> 01:15:35,800
of London also has had its own military and its

1072
01:15:35,920 --> 01:15:38,800
naval forces. At the time of the Spanish Armada in

1073
01:15:38,840 --> 01:15:42,680
fifteen eighty eight, the City of London itself furnished thirty ships,

1074
01:15:43,119 --> 01:15:47,039
with ten belonging to the merchant adventurers of London. So

1075
01:15:47,119 --> 01:15:49,359
the defeat of the Spanish Armada at that time was

1076
01:15:49,399 --> 01:15:53,399
primarily due also to the City of London directly. So

1077
01:15:53,520 --> 01:15:57,399
fast forwarding a little bit in nineteen forty seven, so

1078
01:15:57,520 --> 01:16:01,159
that's when I have the source book from. There were

1079
01:16:01,199 --> 01:16:05,079
between seventy to eighty companies or livery guilds, and at

1080
01:16:05,119 --> 01:16:08,039
one time in English history, the livery men were entitled

1081
01:16:08,039 --> 01:16:12,880
to parliamentary votes. Since Edward IID many of the monarchs

1082
01:16:12,880 --> 01:16:17,039
in England have been members of these guilds, specifically the

1083
01:16:17,119 --> 01:16:21,319
Mercer's Guild the Magna Carta itself. The negotiation with the

1084
01:16:21,439 --> 01:16:26,079
king was negotiated by the mercers, and as a small

1085
01:16:26,159 --> 01:16:29,720
side fact, the first recorded death by a handgun was

1086
01:16:29,840 --> 01:16:33,840
Robert Packington in fifteen thirty six, a Mercer Guild member.

1087
01:16:34,720 --> 01:16:36,960
To very briefly touch on it, this is where I'll

1088
01:16:36,960 --> 01:16:40,239
cut off here. How can one join the City of London.

1089
01:16:40,520 --> 01:16:45,479
There are three ways. You can't really buy your way

1090
01:16:45,520 --> 01:16:49,640
in per se traditionally, but it's patrimony, it's father to son,

1091
01:16:50,119 --> 01:16:53,239
it is serviced to an apprentice within the guild. Or

1092
01:16:53,279 --> 01:16:58,399
it is quote redemption that is buying away your sin

1093
01:16:58,479 --> 01:17:02,560
and buying yourself into the system. That's all the information

1094
01:17:02,640 --> 01:17:05,319
I was able to glean from the City of London

1095
01:17:05,399 --> 01:17:06,279
sources here.

1096
01:17:08,800 --> 01:17:11,880
Speaker 4: Let me uh, let's talk about what the city is

1097
01:17:11,960 --> 01:17:16,159
up to now, sure, because when people we talk about

1098
01:17:17,239 --> 01:17:22,319
who's doing this? Is it the car tells what's going

1099
01:17:22,359 --> 01:17:26,600
on over here? Is it the sex traffickers? Is it

1100
01:17:27,600 --> 01:17:31,840
the this? Or is it the that? All these varying

1101
01:17:32,520 --> 01:17:42,039
criminal networks all over the world. Let's this is from

1102
01:17:42,079 --> 01:17:49,199
a This is an excerpt from an article cited in

1103
01:17:52,239 --> 01:17:58,079
Funny Enough The Guardian. Right, it's uh, you can find

1104
01:17:58,079 --> 01:18:01,920
this in just type in the City of London space

1105
01:18:02,199 --> 01:18:04,399
un z. The very first thing that little pop up

1106
01:18:04,479 --> 01:18:07,920
is a very lengthy, very informative article that I urge

1107
01:18:08,000 --> 01:18:12,079
everyone that is listening to this episode to do as

1108
01:18:12,119 --> 01:18:15,399
the very next thing that you do. It's long, so

1109
01:18:15,439 --> 01:18:17,279
if it's late, save it for tomorrow.

1110
01:18:17,279 --> 01:18:18,039
Speaker 3: But read it.

1111
01:18:20,560 --> 01:18:22,920
Speaker 4: Probably the best thing on underport and that's saying a lot.

1112
01:18:25,880 --> 01:18:28,439
At the same time as the government's anti fraud minister

1113
01:18:28,520 --> 01:18:30,680
resigned because the Jews in the City of London had

1114
01:18:30,680 --> 01:18:34,760
once again killed legislation to combat economic crime by the city,

1115
01:18:35,119 --> 01:18:39,319
saying that nobody in the UK government cared about stopping kleptocrats,

1116
01:18:39,359 --> 01:18:43,199
oligarchs and organized crime lords stashing their money in the UK.

1117
01:18:43,840 --> 01:18:45,720
And another article goes on to tell us how the

1118
01:18:45,760 --> 01:18:48,760
city remains a safe haven for the world's dirty cash.

1119
01:18:49,000 --> 01:18:51,439
Here's another interesting article from The Guardian with a five

1120
01:18:51,520 --> 01:18:54,039
step guide telling you how the Jews in the city

1121
01:18:54,319 --> 01:18:58,680
can help you get away with stealing millions. There's no

1122
01:19:00,399 --> 01:19:04,920
KYC or AML right, so know your customer antime money

1123
01:19:05,000 --> 01:19:09,119
laundering stuff that happens inside the City of London. Yes,

1124
01:19:09,319 --> 01:19:15,079
UK has got very rigorous KYCAML laws and KYCAML checks

1125
01:19:15,079 --> 01:19:17,359
and all these things. None of that shit exists in

1126
01:19:17,399 --> 01:19:20,039
that one square mile and any of the banks that

1127
01:19:20,119 --> 01:19:23,880
do business in that one square mile. So one indication

1128
01:19:24,159 --> 01:19:27,920
is of the UK's official UK Company Registered list that

1129
01:19:28,039 --> 01:19:31,119
is littered with fake names because no identity checks are

1130
01:19:31,119 --> 01:19:34,159
required in the City of London at all. One corporation

1131
01:19:34,359 --> 01:19:37,760
is registered, for example, in the name of Holy Jesus Christ,

1132
01:19:38,279 --> 01:19:43,439
with his stated occupation as Creator, his nationality as Angelic,

1133
01:19:44,000 --> 01:19:48,439
and his country of residence as Heaven. Another is in

1134
01:19:48,479 --> 01:19:53,039
the name of Adolph Tooth fairy Hitler, with the City

1135
01:19:53,159 --> 01:19:59,800
sales Firm in the name of Donald Duck. So there's

1136
01:19:59,800 --> 01:20:01,800
a firm that operates out of the City of London

1137
01:20:02,399 --> 01:20:05,800
in the name of Donald Duck, and so on and

1138
01:20:05,880 --> 01:20:10,560
so forth. The UK government claims it hasn't the resources

1139
01:20:10,600 --> 01:20:14,199
to police the corporate registry, but the truth is that

1140
01:20:14,239 --> 01:20:20,319
they permitted to continue because it serves its purpose, because

1141
01:20:20,319 --> 01:20:28,800
it serves the gangsters controlling the legislation. An article in

1142
01:20:28,840 --> 01:20:31,680
the Eurasia Review called the City of London of Paradise

1143
01:20:31,760 --> 01:20:35,800
for parasites or the best this is the title is

1144
01:20:36,079 --> 01:20:40,359
a Parasite's paradise or the best criminal sanctuary money can buy.

1145
01:20:40,960 --> 01:20:44,119
London has become the center of global finance capital by

1146
01:20:44,159 --> 01:20:49,199
engaging in long term, large scale active collaborations with multi

1147
01:20:49,239 --> 01:20:54,600
billion pound drug arms and sex, slave and people smuggling

1148
01:20:54,680 --> 01:20:58,840
cartels that chews and the cities specialize in laundering funds

1149
01:20:58,840 --> 01:21:03,239
for the Mexican, Colombian, Peruvian Russian, Polish, Czech and even

1150
01:21:03,319 --> 01:21:09,800
Nigerian narco cartels white slavers. This is in their article

1151
01:21:10,239 --> 01:21:13,680
you Raise Review, thank you for calling out the white

1152
01:21:13,680 --> 01:21:19,399
slave trade. White slavers have their private bankers at prestigious

1153
01:21:19,439 --> 01:21:27,279
city banks, lifelong multi trillion dollar tax evaders fleeing from

1154
01:21:28,159 --> 01:21:32,920
the nations they pillage. Right. It continues on that the

1155
01:21:32,960 --> 01:21:38,039
city boys welcome every gangster and oligarch. The London Sorry,

1156
01:21:38,199 --> 01:21:43,720
the London Sanctuary for the world's richest plunderers, offers unprecedented services,

1157
01:21:44,159 --> 01:21:53,800
especially protection from extradition and protection from criminal prosecution in

1158
01:21:53,880 --> 01:21:58,239
the nations that they commit the crimes in. So city

1159
01:21:58,279 --> 01:22:02,159
of London will also hide you. It spends a place

1160
01:22:02,199 --> 01:22:05,399
to live, it's one square mile, but you can also

1161
01:22:05,680 --> 01:22:10,840
live inside any bank owned properties outside because again this

1162
01:22:10,960 --> 01:22:14,560
is the beauty of a corporation. This gets into the

1163
01:22:14,640 --> 01:22:17,720
concept of something that Pete and I talked about a

1164
01:22:17,720 --> 01:22:20,680
while back. I believe the episode is when there is

1165
01:22:20,720 --> 01:22:27,279
no justice about a concept called corporate citizenship and the

1166
01:22:27,800 --> 01:22:32,399
lovely loopholes to evade all types of prosecution and how

1167
01:22:32,399 --> 01:22:39,119
anybody inside these corporations can commit crime and aid and

1168
01:22:39,279 --> 01:22:45,760
to bet others penalty free if they're acting on behalf

1169
01:22:45,800 --> 01:22:49,479
of the corporation. Oh, how do you slap the handcuffs

1170
01:22:49,479 --> 01:22:54,760
on a corporation, Well you don't because it doesn't have hands. Well,

1171
01:22:54,760 --> 01:22:58,119
how do you throw a corporation in prison? Well you can't,

1172
01:23:00,600 --> 01:23:04,640
you can't. Well, let's throw all the officers in prison,

1173
01:23:04,720 --> 01:23:08,119
all the officers, the CEO. Well, the CEO is just

1174
01:23:08,159 --> 01:23:13,159
an employee. He's doing what he's told by the board

1175
01:23:13,199 --> 01:23:17,399
of directors. Well, let's throw the board of directors in prison. Oh,

1176
01:23:17,439 --> 01:23:21,199
they're just appointed delegates, kind of like a lawyer. Is

1177
01:23:21,239 --> 01:23:25,079
your appointed representative of the shareholders? Well, who are the shareholders?

1178
01:23:25,600 --> 01:23:30,680
I don't know. There's one share over here owned by

1179
01:23:30,800 --> 01:23:35,920
some Taiwanese hedge fund. There's a couple million shares in

1180
01:23:35,960 --> 01:23:39,680
this Hong Kong entity. There's this over here, there's some

1181
01:23:39,800 --> 01:23:51,319
over You get the point. And what happens in a

1182
01:23:51,359 --> 01:23:56,920
bond issuance. I want to talk briefly about bombs because

1183
01:23:56,920 --> 01:24:01,239
everybody thinks that, Oh, no, New York City Wall Street

1184
01:24:01,319 --> 01:24:04,199
is the financial capital of the world. No it is not.

1185
01:24:05,159 --> 01:24:08,319
It is the equities capital of the world. It is

1186
01:24:08,319 --> 01:24:15,359
this stock trading capital of the world. What is the

1187
01:24:15,399 --> 01:24:19,239
bond market? Well, the bond market is the debt market,

1188
01:24:19,720 --> 01:24:25,119
it's the iou market. Well, how big is the stock market? Well,

1189
01:24:25,199 --> 01:24:28,960
let's just say I don't know. Thirty trillion or five

1190
01:24:29,039 --> 01:24:34,000
trillion or fifty trillion, doesn't matter, because the bond market

1191
01:24:34,399 --> 01:24:39,520
on any given day is about ten times the size

1192
01:24:41,239 --> 01:24:46,119
of the stock market. Well where are all the bonds? Well,

1193
01:24:46,159 --> 01:24:51,720
the bond capital of the world is London. So yeah,

1194
01:24:52,680 --> 01:24:58,720
stocks are worth money, and loans are also worth money. Right,

1195
01:24:58,840 --> 01:25:05,239
If Pete gives loan to Filo for one hundred dollars

1196
01:25:05,439 --> 01:25:08,920
at ten percent, I am you know. If I buy

1197
01:25:09,000 --> 01:25:13,560
that loan, I pay Pete's one hundred dollars and another

1198
01:25:13,680 --> 01:25:17,560
ten percent for the vig astral Autonomus are going nuts

1199
01:25:17,600 --> 01:25:19,960
in the group chat, and I forgot the silence my

1200
01:25:20,479 --> 01:25:21,720
phone because I'm an asshole.

1201
01:25:22,199 --> 01:25:22,800
Speaker 3: There we go.

1202
01:25:25,359 --> 01:25:32,279
Speaker 4: That that loan is worth money, all right, So having

1203
01:25:32,439 --> 01:25:37,479
a bunch of loans is like having a bunch of money.

1204
01:25:37,600 --> 01:25:39,520
You can sell those loans to people that want to

1205
01:25:39,520 --> 01:25:43,520
buy them. Hey, I'll buy that for one hundred dollars

1206
01:25:44,000 --> 01:25:48,479
and then Filos can pay me the viig instead of you, Pete,

1207
01:25:48,800 --> 01:25:51,600
Well you're getting ten percent from Filos. How about I

1208
01:25:51,640 --> 01:25:56,960
give you one hundred dollars plus three years of interest,

1209
01:25:57,199 --> 01:25:59,840
so one hundred and thirty bucks and you could have

1210
01:25:59,840 --> 01:26:02,520
a hundred and thirty bucks now rather than wait in

1211
01:26:02,560 --> 01:26:05,600
three years for Filo to give you that ten percent

1212
01:26:05,680 --> 01:26:11,960
each year. Say okay, this is it has a value.

1213
01:26:12,119 --> 01:26:18,560
It's tradable. But unlike stocks, where I can go to

1214
01:26:18,840 --> 01:26:23,479
a company and I can get a list of every

1215
01:26:23,479 --> 01:26:27,680
single person that owns a share in that company because

1216
01:26:28,159 --> 01:26:31,079
they have to have a list because each one of

1217
01:26:31,079 --> 01:26:37,720
those shareholders gets a vote. Right, Corporations are incredibly democratic institutions,

1218
01:26:38,000 --> 01:26:44,880
probably the only place democracy works because everyone has the

1219
01:26:44,920 --> 01:26:49,359
same vested interests. I'm not going to vote for some

1220
01:26:49,600 --> 01:26:53,520
fucking Indian asshole to be the CEO, because if I

1221
01:26:53,640 --> 01:26:57,520
vote an Indian asshole to be in the CEO, the

1222
01:26:57,600 --> 01:27:00,439
company is going to tank and then my stock that

1223
01:27:00,479 --> 01:27:04,800
I own is going to be worthless. So everybody has

1224
01:27:05,000 --> 01:27:09,239
each other's best interest at heart because everyone has the

1225
01:27:09,279 --> 01:27:12,960
same interest. So there's lists of all the people that

1226
01:27:13,000 --> 01:27:17,920
get to vote. There is no list of who has

1227
01:27:18,000 --> 01:27:23,800
lent money to the company. There is no bond regulator.

1228
01:27:24,640 --> 01:27:28,119
Funny enough, bonds are largely out of the purview of

1229
01:27:28,159 --> 01:27:33,840
the SEC, so Not only is there really no list

1230
01:27:34,159 --> 01:27:42,279
of who owns what bonds, there's really no regulators to

1231
01:27:42,560 --> 01:27:47,359
enforce any rules there. For every hundreds of pages of

1232
01:27:47,399 --> 01:27:50,119
security law, for every hundred pages of security law, which

1233
01:27:50,119 --> 01:27:54,960
there are thousands, there's maybe about five pages of laws

1234
01:27:54,960 --> 01:28:00,199
about bonds. It's almost like bonds are, you know, an

1235
01:28:00,239 --> 01:28:05,079
afterthought in people's heads to legislators. They practically don't exist.

1236
01:28:06,479 --> 01:28:11,520
They are ten times the stock market. Companies can issue

1237
01:28:11,520 --> 01:28:14,079
bonds at any moment in time. That's the benefit of

1238
01:28:14,159 --> 01:28:16,880
being a publicly traded company. You don't need to go

1239
01:28:16,920 --> 01:28:19,880
to the bank and say I want to borrow some money.

1240
01:28:20,279 --> 01:28:23,159
You can literally go to the entire market and say,

1241
01:28:23,199 --> 01:28:28,159
who wants to lend me money. You're not under any

1242
01:28:28,159 --> 01:28:32,880
obligation to tell the world who decided to take you

1243
01:28:33,000 --> 01:28:38,039
up on your offer of lending you money. You just

1244
01:28:38,079 --> 01:28:40,640
have to tell your shareholders how much interest you have

1245
01:28:40,720 --> 01:28:41,920
to pay, and if you're going to be able to

1246
01:28:41,920 --> 01:28:46,800
make those payments. That's it. So there's really no way

1247
01:28:46,800 --> 01:28:53,560
of finding out who owns what. And a bond holder

1248
01:28:53,640 --> 01:28:58,199
is basically a shareholder in certain cases of bonds, so

1249
01:28:58,279 --> 01:29:03,079
like a convertible note, a convertible note is largely used

1250
01:29:03,079 --> 01:29:07,840
in venture capital for early stage companies because they haven't

1251
01:29:07,880 --> 01:29:11,680
really set a share price yet. Nope, they could. An

1252
01:29:11,680 --> 01:29:14,199
Indian founder can tell me that one share of his,

1253
01:29:14,560 --> 01:29:16,800
you know, shitty tech company that's not going to work

1254
01:29:17,119 --> 01:29:20,920
is worth a million dollars. But has anybody paid him

1255
01:29:20,960 --> 01:29:22,439
a million dollars for a share yet?

1256
01:29:22,520 --> 01:29:22,600
Speaker 2: No?

1257
01:29:23,119 --> 01:29:26,479
Speaker 4: So it has. It hasn't been priced. So since the

1258
01:29:26,520 --> 01:29:29,319
shares have no price, I'm just going to give him

1259
01:29:29,359 --> 01:29:34,039
a loan at a set interest rate, let's say thirteen percent,

1260
01:29:34,720 --> 01:29:40,640
which is about average, And at any given time I

1261
01:29:40,680 --> 01:29:46,039
can say, hey, asshole, give me my thirteen percent back

1262
01:29:46,159 --> 01:29:50,960
plus my principle, and he has to do it. Let's

1263
01:29:50,960 --> 01:29:54,000
say after a period of two years. I can call

1264
01:29:54,039 --> 01:29:58,079
that note whenever I want to, or whenever I want

1265
01:29:58,119 --> 01:30:01,640
to I can have. Let's so, let's say a million

1266
01:30:01,680 --> 01:30:09,119
dollars plus two hundred and thirty thousand roughly, so thirteen

1267
01:30:09,159 --> 01:30:12,920
percent interest of two years. I could say, all right, asshole,

1268
01:30:13,239 --> 01:30:15,640
well I actually don't want my money this time. I

1269
01:30:15,760 --> 01:30:21,199
want one million, two hundred and thirty thousand dollars worth

1270
01:30:21,239 --> 01:30:23,319
of shares and you have to give them to me.

1271
01:30:23,399 --> 01:30:28,439
I have converted my convertible note So that means that

1272
01:30:28,439 --> 01:30:33,119
that founder that's CEO, whether it's an Indian startup that's

1273
01:30:33,119 --> 01:30:38,600
worthless or a big company, you have to treat me

1274
01:30:38,800 --> 01:30:43,640
like a shareholder because at any given time I could

1275
01:30:43,720 --> 01:30:47,359
be one. I could just decide well, I'm going to

1276
01:30:47,439 --> 01:30:55,359
convert and I own shares now, not debt. So you

1277
01:30:55,359 --> 01:30:57,520
have to treat me like a shareholder because I could

1278
01:30:57,520 --> 01:30:59,800
be one whenever I want to be. So that means

1279
01:30:59,840 --> 01:31:03,680
if if I say, hey, company, maybe you should think

1280
01:31:03,680 --> 01:31:08,680
about doing X, Y and Z, you have to treat

1281
01:31:08,680 --> 01:31:13,000
that like it's a shareholder, because if you don't do

1282
01:31:13,039 --> 01:31:15,560
that and you keep fucking up, that guy will convert

1283
01:31:17,079 --> 01:31:20,520
his share, his debt into shares, and the very first

1284
01:31:20,560 --> 01:31:22,960
thing he's going to do is he's going to vote

1285
01:31:22,960 --> 01:31:26,359
you out of a job. And the guy that he

1286
01:31:26,439 --> 01:31:28,920
votes in the job will do X, Y and Z

1287
01:31:29,039 --> 01:31:33,199
because you didn't. So you have a large in These

1288
01:31:35,039 --> 01:31:38,239
convertible notes aren't a big thing in public market companies,

1289
01:31:38,720 --> 01:31:41,880
but they very much are in private companies, and they

1290
01:31:41,960 --> 01:31:45,119
used to be a big thing in all companies back

1291
01:31:45,159 --> 01:31:49,600
in the seventeens and eighteen hundreds. And I'm working my

1292
01:31:49,680 --> 01:31:52,840
way right now to the thing I wanted to talk

1293
01:31:52,840 --> 01:31:55,239
about when I started on this bonds thing, and that

1294
01:31:55,439 --> 01:32:03,359
is the British East India Company. Well, guys like Isaac

1295
01:32:03,520 --> 01:32:08,920
Newton lost his ass when Oh, by the way, this

1296
01:32:09,239 --> 01:32:11,960
shows a fella that I mentioned that financed the Orange

1297
01:32:12,000 --> 01:32:20,840
Revolution and overthrew Catholicism in England. Not only was he

1298
01:32:21,239 --> 01:32:25,840
the founder right, the guy that started the Dutch East

1299
01:32:25,840 --> 01:32:28,800
India Company, he was also the creator of the Dutch

1300
01:32:29,000 --> 01:32:31,600
stock Exchange, the very first stock exchange the Philoh mentioned.

1301
01:32:32,319 --> 01:32:34,359
So remember when I said, like, you don't blow up.

1302
01:32:35,000 --> 01:32:37,840
You don't like demo your house when you're inside of it,

1303
01:32:38,359 --> 01:32:41,039
but you know it's going to fall down, so you

1304
01:32:41,079 --> 01:32:43,039
get all the shit, all your valuables out of the

1305
01:32:43,039 --> 01:32:46,600
house and then you demo it. You're not going to

1306
01:32:46,680 --> 01:32:48,560
demo it with all your shit still in there. That

1307
01:32:48,600 --> 01:32:52,239
would be retarded. So once he got all his shit

1308
01:32:52,319 --> 01:32:55,680
out and William of Orange got him a new place

1309
01:32:55,720 --> 01:33:01,000
to put it in England, he demoed the stock exchange.

1310
01:33:01,720 --> 01:33:07,079
Stock exchange collapsed, everybody lost everything. The Dutch East India

1311
01:33:07,079 --> 01:33:12,479
Company collapsed. Everybody lost everything if they owned shares. But

1312
01:33:12,560 --> 01:33:16,680
the interesting thing in bonds, right, just like a mortgage,

1313
01:33:16,800 --> 01:33:21,640
Pete what happens if you default on a mortgage, who

1314
01:33:21,680 --> 01:33:27,560
gets the house physical asset? The bank does well, but

1315
01:33:28,039 --> 01:33:30,560
the county in the county gets it.

1316
01:33:30,960 --> 01:33:31,920
Speaker 3: If it defaults.

1317
01:33:32,279 --> 01:33:35,239
Speaker 1: It usually goes to the county court, the county courthouse

1318
01:33:35,279 --> 01:33:37,880
and goes to the is auctioned off on the steps

1319
01:33:37,880 --> 01:33:38,159
of it.

1320
01:33:38,199 --> 01:33:39,319
Speaker 3: But normally it's.

1321
01:33:39,399 --> 01:33:41,279
Speaker 4: Because the bank isn't going to come down and put

1322
01:33:41,319 --> 01:33:44,720
a full sale sign and show the listings itself, is it. No,

1323
01:33:45,600 --> 01:33:47,159
it's gonna give it to the county. But like you

1324
01:33:47,199 --> 01:33:52,439
take care of this, okay. So when a company goes

1325
01:33:52,439 --> 01:33:58,720
out of business, just like with a mortgage, if you

1326
01:33:58,840 --> 01:34:01,279
the person go at a business and you lose your

1327
01:34:01,319 --> 01:34:07,119
house and you can't pay your bills anymore, right, your

1328
01:34:07,159 --> 01:34:09,600
house is going to be sold to pay off your debts.

1329
01:34:12,279 --> 01:34:16,000
Let's say you're a shareholder of Microsoft and Microsoft goes

1330
01:34:16,039 --> 01:34:22,600
bankrupt and they auction off all of its assets. You're

1331
01:34:22,640 --> 01:34:29,680
not getting a red scent of that none the bondholders.

1332
01:34:30,439 --> 01:34:34,640
They get paid out from the assets. So when a

1333
01:34:34,640 --> 01:34:39,920
company goes busted, the bondholders get the assets, not you

1334
01:34:40,000 --> 01:34:50,039
the shareholder. Right, So bondholders always get taken care of

1335
01:34:51,920 --> 01:34:57,600
whether the company is a success, right or the company

1336
01:34:58,359 --> 01:35:04,800
is a disaster. The bondholders are always taken care of,

1337
01:35:05,479 --> 01:35:10,239
and they are sacrificing, you know, big twenty eighty fifty

1338
01:35:10,239 --> 01:35:14,960
one returns, like a stockholder would like the speculative value

1339
01:35:15,800 --> 01:35:18,920
for a steady rate of return, Like I don't care

1340
01:35:18,960 --> 01:35:21,079
if your stock goes up. I don't care if your

1341
01:35:21,079 --> 01:35:27,079
stock goes down. You're gonna give me six percent every

1342
01:35:27,159 --> 01:35:31,399
single year, or I'm gonna call my bonds and then

1343
01:35:31,520 --> 01:35:34,560
make you basically give me all of the money at once,

1344
01:35:35,319 --> 01:35:39,079
which you're not gonna do, and then you're gonna basically

1345
01:35:39,560 --> 01:35:43,039
go out of business, and I'm gonna basically get my

1346
01:35:43,119 --> 01:35:45,560
money out of you by auctioning off all your shit

1347
01:35:46,560 --> 01:35:52,319
while you look for another job. Right, He gets that

1348
01:35:52,359 --> 01:35:59,239
security because he's making a calculated decision, like I would

1349
01:35:59,319 --> 01:36:03,600
rather know that I'm making nine percent, and who cares

1350
01:36:03,640 --> 01:36:05,880
how much I could have made, It doesn't matter. I

1351
01:36:05,920 --> 01:36:13,159
would rather make nine percent guaranteed than one hundred percent maybe.

1352
01:36:13,359 --> 01:36:16,159
And that's a type of risk profile that bankers need.

1353
01:36:17,000 --> 01:36:19,199
Bankers need to know that you are going to give

1354
01:36:19,279 --> 01:36:22,680
them a certain amount of money. They don't care if

1355
01:36:22,680 --> 01:36:25,920
they could get more, even if they could get hundreds

1356
01:36:25,960 --> 01:36:29,439
of times more, that's a risk. Bankers don't like risk.

1357
01:36:31,920 --> 01:36:38,560
So this guy, mister Sauza, was also the guy that

1358
01:36:38,640 --> 01:36:44,079
started the British East India Company. And when the British

1359
01:36:44,079 --> 01:36:52,479
East India Company went bankrupt, what happened to its assets? Well?

1360
01:36:52,479 --> 01:37:01,000
What assets did it have? Boats? You know, cannons, Islands?

1361
01:37:01,920 --> 01:37:07,159
The British East India Company had islands? Why is the

1362
01:37:09,319 --> 01:37:12,680
why is the uke? Why is the Why is New

1363
01:37:12,800 --> 01:37:23,119
Zealand or Australia a commonwealth country that has roughly the

1364
01:37:23,159 --> 01:37:27,960
same laws and tax system as the UK. But then

1365
01:37:28,000 --> 01:37:32,000
there are these other things called protectorates, like the British

1366
01:37:32,039 --> 01:37:35,880
Virgin Islands, or like Hong Kong was until like ten

1367
01:37:35,960 --> 01:37:42,479
years ago, where there was no tax, no banking law whatsoever,

1368
01:37:42,680 --> 01:37:49,279
no regulation whatsoever. Literally a fucking black box became an islands.

1369
01:37:50,199 --> 01:37:52,960
All these interesting little islands. Uh, what's the other one

1370
01:37:54,199 --> 01:38:02,880
next to Madagascar? The mal thiefs by Africa? Anyways, the islands,

1371
01:38:03,439 --> 01:38:09,920
the islands are called the British Virgin Islands or the

1372
01:38:09,920 --> 01:38:16,479
British Xyz Island. They get British protection. The Brits have

1373
01:38:16,600 --> 01:38:20,560
to protect them, but they get to basically do whatever

1374
01:38:20,600 --> 01:38:23,920
the fuck they want and It's funny that the thing

1375
01:38:23,960 --> 01:38:27,159
that every single one of these islands got into, these

1376
01:38:27,199 --> 01:38:34,119
protectorates got into the banking business, every single one of them.

1377
01:38:34,439 --> 01:38:41,319
More US treasuries are funneled through the British Virgin Islands

1378
01:38:42,359 --> 01:38:50,520
than the European Central Bank. Just go to any treasury

1379
01:38:50,560 --> 01:38:55,079
auction and I'll tell you what nations are buying. The

1380
01:38:55,199 --> 01:39:00,960
BBI will be in the top five ten every time.

1381
01:39:02,199 --> 01:39:06,359
Hundreds of billions of dollars. So hundreds of billions of

1382
01:39:06,399 --> 01:39:10,359
dollars every treasury auction is just moving into this black

1383
01:39:10,439 --> 01:39:14,880
box country or sorry, this black box island with one

1384
01:39:14,920 --> 01:39:19,079
hundred thousand people on it. What did every single one

1385
01:39:19,079 --> 01:39:21,119
of them decide to buy a billion dollars with the

1386
01:39:21,159 --> 01:39:25,760
treasury bonds that day? There's not a who on that

1387
01:39:25,880 --> 01:39:31,720
island needs hundreds of billions of treasuries every other month.

1388
01:39:34,600 --> 01:39:39,520
I don't know. They're not running through England like as

1389
01:39:39,560 --> 01:39:44,560
in like London. Yeah, the Bank of England's treasury purchases

1390
01:39:45,319 --> 01:39:49,119
go to the Bank of England in London. The European

1391
01:39:49,199 --> 01:39:59,000
Central Bank, well, those those get sent to Brussels, right,

1392
01:39:59,039 --> 01:40:02,439
So it's not and buying hundreds of billions of dollars

1393
01:40:02,479 --> 01:40:08,000
in treasuries, is it. No, it's not like you know

1394
01:40:08,000 --> 01:40:11,239
what I talk about, like the offshore dollar market that is,

1395
01:40:11,319 --> 01:40:15,960
like exists outside of any regulation. Yes, this is what

1396
01:40:16,000 --> 01:40:21,600
I'm talking about. It exists here. It exists on the

1397
01:40:21,800 --> 01:40:26,880
in these islands, in these tax havens, hundreds of billions

1398
01:40:26,880 --> 01:40:32,680
of dollars and tens of trillions in assets. Like, it's

1399
01:40:32,680 --> 01:40:35,600
not like bribe a couple of politicians. It's by a country,

1400
01:40:36,439 --> 01:40:46,039
by a couple right, conservatively, I don't know, forty trillion

1401
01:40:46,920 --> 01:40:56,399
in assets, maybe more sixty trillion, insane amounts of money,

1402
01:40:56,600 --> 01:40:59,199
but also insane amount of debt because they borrow on

1403
01:40:59,319 --> 01:41:03,800
all of it. They're basically buying it with leverage money.

1404
01:41:04,079 --> 01:41:09,880
Speaker 1: We lose, Stormy, No, I should be here, I'm here, Okay, cool.

1405
01:41:11,039 --> 01:41:15,720
Speaker 4: Yeah, Anyways, this is where the offshore dollar market exists.

1406
01:41:15,800 --> 01:41:20,119
Everyone's like, oh, well, how does this exist outside of regulators?

1407
01:41:20,119 --> 01:41:22,520
And how what do you mean? We don't know how

1408
01:41:22,600 --> 01:41:26,600
much it is. This is the shadow banking network. This

1409
01:41:26,720 --> 01:41:32,680
is it, all right, It's the City of London, the

1410
01:41:32,720 --> 01:41:38,800
Bank of International Settlements. If you notice sovereignty in these

1411
01:41:38,840 --> 01:41:44,239
little banking clusters that exist in a country, so like England, Britain,

1412
01:41:44,319 --> 01:41:47,600
is a sovereign country, but the City of London, this

1413
01:41:47,640 --> 01:41:53,720
little tiny island, is also sovereign. The Bank of International

1414
01:41:53,760 --> 01:41:58,439
Settlements exists in Switzerland, which I mean, don't get me wrong,

1415
01:41:58,479 --> 01:42:01,600
It's got fucking really liberal banking laws. Up until the

1416
01:42:01,720 --> 01:42:04,119
US put the screw to them. You could get away

1417
01:42:04,119 --> 01:42:07,279
with bloody fucking murder in Switzerland. You could set up

1418
01:42:07,399 --> 01:42:10,439
you could open up a bank account and instead of

1419
01:42:10,520 --> 01:42:13,800
using a name, you could just have a number. Like

1420
01:42:14,319 --> 01:42:17,680
that bank had no records of you except for a number.

1421
01:42:21,359 --> 01:42:24,520
You'd be fucked if you lost your password. But anyways,

1422
01:42:25,079 --> 01:42:27,640
So why would I need to set up a tinier

1423
01:42:27,680 --> 01:42:32,319
little island that is sovereign, issues its own passports, diplomatic community,

1424
01:42:32,319 --> 01:42:35,399
all that fun shit inside a nation like Switzerland. I

1425
01:42:35,399 --> 01:42:39,640
can already get away with whatever I want here. So

1426
01:42:39,720 --> 01:42:42,439
you see these little tiny tax haven islands that are

1427
01:42:42,479 --> 01:42:46,479
self sovereign all over the place, and the only thing

1428
01:42:46,520 --> 01:42:48,680
that they have in common is hundreds of billions of

1429
01:42:48,720 --> 01:42:53,640
dollars moves through them every day. Who is that money

1430
01:42:53,680 --> 01:42:58,239
going to? Nobody knows what is it being used for?

1431
01:42:58,720 --> 01:43:08,000
Fucking nobody knows. This exists as a sovereign nation. It's

1432
01:43:08,039 --> 01:43:10,039
a decentralized superpower.

1433
01:43:12,199 --> 01:43:15,760
Speaker 2: I should add that the city of London no longer.

1434
01:43:15,800 --> 01:43:18,079
I mean, at one point it had a monopoly on

1435
01:43:18,159 --> 01:43:20,840
the sort of tactics generally hundreds of years ago. But

1436
01:43:21,399 --> 01:43:23,960
they've kind of let everyone into the club, or at

1437
01:43:24,039 --> 01:43:26,960
least into their tactics, as I understand it, because they're

1438
01:43:27,000 --> 01:43:29,039
kind of this conduit that can sit on top and

1439
01:43:29,079 --> 01:43:35,159
skim money off. As a sidebar, the Trump administration changed

1440
01:43:35,199 --> 01:43:38,840
a lot of its foreign trade, like foreign terrorist organizations

1441
01:43:38,880 --> 01:43:43,000
to be transnational criminal organizations, so just to like very

1442
01:43:43,000 --> 01:43:47,159
briefly tied into corn events has Belah for example, and

1443
01:43:47,239 --> 01:43:53,319
also stuff with Venezuela. A lot of the sanctions and

1444
01:43:53,359 --> 01:43:55,760
stuff that were being put on or going through the

1445
01:43:55,760 --> 01:44:00,680
Treasury Department because essentially they found out that Has for example,

1446
01:44:00,840 --> 01:44:04,720
was laundering hundreds of millions of dollars through this global

1447
01:44:04,760 --> 01:44:09,000
illicit economy. And when they say alicit economy, it's when

1448
01:44:09,000 --> 01:44:11,199
I was looking at the stats back in twenty nineteen,

1449
01:44:11,239 --> 01:44:14,600
it was something like two trillion dollars of wealth was

1450
01:44:14,600 --> 01:44:20,359
circulating in this sort of City of London sort of pipeline.

1451
01:44:20,920 --> 01:44:23,880
I mean, and it's that's just a rough estimate. No

1452
01:44:23,920 --> 01:44:27,239
one has really any idea how much money is circulating,

1453
01:44:27,760 --> 01:44:31,079
because when these things will tie in, for example, like

1454
01:44:31,119 --> 01:44:33,479
when and I only really know Hesba as a specific

1455
01:44:33,520 --> 01:44:34,319
example of.

1456
01:44:34,560 --> 01:44:36,880
Speaker 4: This stack, because the Israelis are willing to like blow

1457
01:44:36,880 --> 01:44:39,560
the whistle on it, you also get the cartels. So

1458
01:44:39,600 --> 01:44:42,840
basically this is how intelligence agencies also move their money around.

1459
01:44:43,720 --> 01:44:46,920
Speaker 2: But they would do stuff like the UNESCO building in Beirut.

1460
01:44:47,279 --> 01:44:50,600
The fifth floor of it had something like ten thousand

1461
01:44:51,000 --> 01:44:54,199
shell companies registered to that floor in a building.

1462
01:44:54,359 --> 01:44:58,479
Speaker 4: Bro, I can show, I can point you towards literally

1463
01:44:58,600 --> 01:45:03,680
strip malls in Delaware that have hundreds of thousands of

1464
01:45:04,399 --> 01:45:08,880
corporate large corporations in the same building.

1465
01:45:08,880 --> 01:45:10,960
Speaker 2: And I should I should remind everywhere I have.

1466
01:45:11,239 --> 01:45:15,359
Speaker 4: I have two Delaware registered sea corporations. I've never been

1467
01:45:15,359 --> 01:45:20,479
to Delaware ever. I drove through Delaware once. Right, But

1468
01:45:20,600 --> 01:45:25,279
there is a there is a business, right, so there

1469
01:45:25,359 --> 01:45:29,279
is a it's called trustees. Right. So I call a

1470
01:45:29,319 --> 01:45:31,960
trustee and say, hey, set me up a Delaware company.

1471
01:45:33,239 --> 01:45:35,279
I don't have an office in Delaware except for a

1472
01:45:35,439 --> 01:45:39,760
post box that this guy gets the mail from and

1473
01:45:39,840 --> 01:45:43,159
sends to me. I don't ever have to go check

1474
01:45:43,199 --> 01:45:46,279
this post box. He does the filing, and he is

1475
01:45:46,319 --> 01:45:52,079
my registered agent. Registered agent businesses are you know, an

1476
01:45:52,079 --> 01:45:55,840
actual it's like a profession, like a barber I have.

1477
01:45:55,960 --> 01:46:00,680
There's a registered agents in the Cayman Islands. They will

1478
01:46:01,000 --> 01:46:03,880
help you set up a company. They will register it.

1479
01:46:03,920 --> 01:46:07,439
And they because you have to have one officer right

1480
01:46:07,479 --> 01:46:13,079
that is from the place or exists in the place. Right.

1481
01:46:13,119 --> 01:46:16,399
So he takes all of your mail that comes to

1482
01:46:16,439 --> 01:46:20,279
your Cayman Island post office box or this you know

1483
01:46:20,520 --> 01:46:25,199
mail box room the size of you know, a big

1484
01:46:25,239 --> 01:46:29,560
restaurant full of thousands of little mailboxes and whatever mail

1485
01:46:29,560 --> 01:46:34,640
and official communications like taxes or whatever you're trying to dodge.

1486
01:46:35,199 --> 01:46:38,920
Go there. He forwards that mail to you. You can

1487
01:46:38,960 --> 01:46:44,720
register a company, you can create a corporation in dozens

1488
01:46:44,760 --> 01:46:50,000
of dozens of countries or any state in the entire

1489
01:46:50,039 --> 01:46:54,119
fifty States. Wyoming is really good. I'll probably you know,

1490
01:46:54,159 --> 01:46:58,439
if Delaware gets sketchy, I'll you know, reregister my entities

1491
01:46:58,479 --> 01:47:02,199
in either Wyoming or Sell Dakota. South Dakota has the

1492
01:47:02,239 --> 01:47:05,800
best trust laws in the world. They have a trust team.

1493
01:47:06,720 --> 01:47:13,000
The US's rivals. These entities that I'm talking about for

1494
01:47:13,159 --> 01:47:17,960
money laundering abilities, we're talking about like British Virgin Islands, places.

1495
01:47:17,640 --> 01:47:21,680
Speaker 2: Like that, Well, Dublin, Ireland, Well, there's a lot of

1496
01:47:21,720 --> 01:47:23,479
these islands.

1497
01:47:24,760 --> 01:47:29,039
Speaker 4: Well, South Dakota beats everybody. The governor of South Dakota

1498
01:47:29,079 --> 01:47:32,600
sends out a trust team every year and they go

1499
01:47:32,680 --> 01:47:34,800
to all of these countries and find out what new

1500
01:47:34,920 --> 01:47:37,319
rules and laws that they are putting into place to

1501
01:47:37,439 --> 01:47:45,479
protect these anonymous buckets of money and whatever the best

1502
01:47:45,520 --> 01:47:49,920
one is. He then goes and enacts those rules through

1503
01:47:49,920 --> 01:47:54,279
the financial regulator of South Dakota that year. So no

1504
01:47:54,319 --> 01:47:58,159
matter what year it is, you can guarantee that South

1505
01:47:58,239 --> 01:48:03,000
Dakota has the most robust trust protection. I mean, the

1506
01:48:03,039 --> 01:48:08,600
federal government could come after me and basically nail me

1507
01:48:08,640 --> 01:48:13,720
to a wall. And if all my assets are in

1508
01:48:13,760 --> 01:48:17,239
a South Dakota trust, you're not getting them. Not only

1509
01:48:17,319 --> 01:48:20,920
you're not getting them, but you're not even allowed to

1510
01:48:21,039 --> 01:48:27,079
know that they exist. You have to invade South Dakota

1511
01:48:27,399 --> 01:48:31,239
and put it under martial law to find out. So

1512
01:48:31,359 --> 01:48:34,239
how bad do you want to know? You know what's

1513
01:48:34,279 --> 01:48:39,159
in stormy waters South Dakota trust? The US is the

1514
01:48:39,239 --> 01:48:43,960
king of the money laundering business. This is why I

1515
01:48:44,159 --> 01:48:48,279
like here, I'll give you an example, and this is.

1516
01:48:48,600 --> 01:48:51,079
This is all you need to know about it. We're

1517
01:48:51,119 --> 01:48:56,479
the fucking roach motel of money. So let's say Filo,

1518
01:48:56,880 --> 01:49:00,359
you're a Hong Kong citizen. You're not Filo. You're Chiloh

1519
01:49:00,840 --> 01:49:05,119
right or ching Low, and you and I are good friends,

1520
01:49:05,640 --> 01:49:08,720
and you find out I'm getting married and you want

1521
01:49:08,720 --> 01:49:12,680
to give me a wedding gift of one hundred million dollars.

1522
01:49:13,479 --> 01:49:18,159
Chilo is a good friend. It's my favorite Hong Kong

1523
01:49:18,239 --> 01:49:21,520
Chinese person, so this is not a surprise to me.

1524
01:49:23,479 --> 01:49:34,319
I'm going to fill out hey one time Foreign Gift

1525
01:49:35,439 --> 01:49:39,359
Right Report for the irs. I'm going to tell them

1526
01:49:39,399 --> 01:49:45,479
I just got one hundred million dollars for free. How

1527
01:49:45,560 --> 01:49:49,680
much tax am I paying on that? The answer is

1528
01:49:49,760 --> 01:49:56,199
zero dollars. I can get as much money from any

1529
01:49:56,199 --> 01:50:02,720
individual in the world as a gift as long as

1530
01:50:02,760 --> 01:50:06,680
I report it. If it's over one hundred thousand dollars.

1531
01:50:07,319 --> 01:50:09,039
If it was less, if he was going to give

1532
01:50:09,039 --> 01:50:11,760
me ninety nine thousand dollars wedding gift, he is less

1533
01:50:11,800 --> 01:50:15,439
of a good friend, obviously, But I don't have to

1534
01:50:15,479 --> 01:50:19,000
report it. And if it's over one hundred thousand and

1535
01:50:19,119 --> 01:50:23,159
I failed to report it, the penalty for failing to report.

1536
01:50:23,720 --> 01:50:27,520
Is the full tax the maximum tax bracket, so it

1537
01:50:27,560 --> 01:50:30,439
would be like forty percent of whatever the amount is

1538
01:50:30,439 --> 01:50:35,439
is the penalty. So the US will let you bring

1539
01:50:35,520 --> 01:50:39,199
money from anywhere in the world and as much of

1540
01:50:39,239 --> 01:50:45,319
it as you want into the country. But if you

1541
01:50:45,439 --> 01:50:48,560
try and take even a red cent out of the

1542
01:50:48,600 --> 01:50:54,800
country without giving Uncle Sam his slice, he will chase

1543
01:50:54,840 --> 01:50:57,279
you to the ends of the earth, ask Roger vere.

1544
01:51:02,840 --> 01:51:05,880
So that gives the US tremendous power. We are a

1545
01:51:05,880 --> 01:51:09,119
safe haven for capital as these other nations break down.

1546
01:51:10,439 --> 01:51:13,199
Just being the place where rich people keep their money

1547
01:51:13,840 --> 01:51:18,640
is power. So now how much power does these little

1548
01:51:18,680 --> 01:51:23,319
network of tax haven islands that were once the British

1549
01:51:23,359 --> 01:51:29,640
East India Company have a lot? Again, like you have

1550
01:51:29,720 --> 01:51:32,039
to look at these little chains of tax havens as

1551
01:51:32,079 --> 01:51:38,000
a decentralized superpower because they are they don't need armies.

1552
01:51:38,239 --> 01:51:42,079
They can finance somebody else's armies to go do war

1553
01:51:42,159 --> 01:51:48,159
for them. Ask Russia. They're not enjoying this aspect right

1554
01:51:48,239 --> 01:51:51,079
this minute. Well now they're enjoying it a lot more

1555
01:51:51,680 --> 01:51:59,439
because they're plowing through Ukraine. This is how it's done,

1556
01:52:01,079 --> 01:52:02,960
and this is why you'll find has a lot of

1557
01:52:02,960 --> 01:52:05,800
moving money through tax havens. This is why you'll find

1558
01:52:05,880 --> 01:52:11,319
Massad and aim in moving money through these tax havens. Now,

1559
01:52:11,880 --> 01:52:16,039
if moving money for rich people gives you power, what

1560
01:52:16,159 --> 01:52:20,520
is moving money for intelligence agencies give you a lot

1561
01:52:20,520 --> 01:52:27,720
of power? They're like, I mean, Spangler is right like

1562
01:52:29,199 --> 01:52:31,760
in our age. Unfortunately, it's quickly coming to an end,

1563
01:52:32,399 --> 01:52:40,079
thank god. But money power rules, and these people, these

1564
01:52:40,119 --> 01:52:46,680
lovely Saphardim and not you know, Englishmen have been ruling

1565
01:52:46,720 --> 01:52:48,079
at it for a very long time.

1566
01:52:49,520 --> 01:52:53,159
Speaker 2: I mean this this bears like a final question, which is, uh, sure,

1567
01:52:53,239 --> 01:52:56,239
if it is so powerful, if it circulates so much money,

1568
01:52:57,039 --> 01:52:57,520
I mean.

1569
01:52:57,840 --> 01:53:00,359
Speaker 4: How told both business Buddy's going?

1570
01:53:00,439 --> 01:53:02,600
Speaker 2: Well, it's my my question is really, how is it

1571
01:53:02,600 --> 01:53:04,119
all going in the toilet so quickly?

1572
01:53:06,000 --> 01:53:10,399
Speaker 4: Leverage? What leverage giveth on the way up, takes away

1573
01:53:10,920 --> 01:53:14,359
twice as fast. Right, So imagine if you had all

1574
01:53:14,359 --> 01:53:20,119
these loans out right, remember bonds. It's like a game

1575
01:53:20,119 --> 01:53:27,159
of poker, right, If the three of us are relatively

1576
01:53:27,199 --> 01:53:31,840
the same skill level, right, and new players come into

1577
01:53:31,880 --> 01:53:36,000
the pot in a short amount of time, their capital

1578
01:53:36,520 --> 01:53:42,279
will be evenly distributed amongst us three. And if Pete's better,

1579
01:53:43,319 --> 01:53:46,119
he will have a disproportionate amount. They'd say, he's twenty

1580
01:53:46,119 --> 01:53:49,560
percent better. He'll have twenty percent more in you than

1581
01:53:49,600 --> 01:53:52,760
you and I. Right, But on a long enough timeline,

1582
01:53:52,800 --> 01:53:57,560
that money that that new guy put trickles into us

1583
01:53:57,600 --> 01:54:03,159
and out of his pocket, right by osmosis, each hand,

1584
01:54:03,680 --> 01:54:06,279
a little more, a little more. I'm giving some to

1585
01:54:06,319 --> 01:54:08,359
Pete and taking some back, and giving some to you

1586
01:54:08,520 --> 01:54:12,359
and taking some back. Right. This guy is losing and

1587
01:54:12,399 --> 01:54:18,560
losing and losing. Sometimes he wins. Doesn't matter, right, it's it.

1588
01:54:18,560 --> 01:54:23,359
It's the timeline that money trickles down into our pockets.

1589
01:54:24,800 --> 01:54:24,880
Speaker 3: Right.

1590
01:54:24,960 --> 01:54:28,920
Speaker 4: So this is this is what the Federal Reserve and

1591
01:54:29,279 --> 01:54:33,880
basically the US government, fucking libertarians, Federal Reserve doesn't fucking

1592
01:54:33,880 --> 01:54:37,159
print money, right, ending, the FED will do nothing, you

1593
01:54:37,239 --> 01:54:41,359
stupid fucks. Just read the Fed's charter. They will tell

1594
01:54:41,399 --> 01:54:48,279
you they can only monetize the debt that Congress tells

1595
01:54:48,319 --> 01:54:52,840
them to do. So whenever Congress passes a budget, they

1596
01:54:52,920 --> 01:54:55,199
go to the FED and say, here's our budget, make

1597
01:54:55,319 --> 01:55:00,840
this amount of money happen. And the FED is legally obligated. Again,

1598
01:55:00,880 --> 01:55:04,520
so much of our politics is just misdirection. Right, It's

1599
01:55:04,520 --> 01:55:07,520
like teaching people to protest, Like that gets changed. You're

1600
01:55:07,560 --> 01:55:09,840
sending people in directions where you know that they can

1601
01:55:09,880 --> 01:55:13,119
make no change because they're in the wrong direction. You

1602
01:55:13,159 --> 01:55:17,520
can't stop money printing by ending the FED. You have

1603
01:55:17,600 --> 01:55:22,800
to stop money printing in Congress. The FED is fucking

1604
01:55:22,880 --> 01:55:27,079
forced to buy law to print every dollar that Congress

1605
01:55:27,079 --> 01:55:31,439
tells it to. They don't just get to decide anyways.

1606
01:55:31,880 --> 01:55:35,960
Fed prints tons and tons of money. Europe prints tons

1607
01:55:35,960 --> 01:55:41,520
and tons of money. England prints tons and tons of money. Right,

1608
01:55:42,039 --> 01:55:47,000
that money will flow down and into these look at

1609
01:55:47,039 --> 01:55:50,680
them like estuaries. Right, it's the it's the flow of

1610
01:55:50,720 --> 01:55:54,840
money that matters. Right. Sitting on a bunch of money

1611
01:55:54,840 --> 01:55:58,000
in a bank account doesn't actually do anything, right, It's

1612
01:55:58,039 --> 01:56:02,039
the movement of money where you make money, either flowing

1613
01:56:02,079 --> 01:56:05,479
in or flowing out, flowing into new investments, flowing back

1614
01:56:05,520 --> 01:56:14,199
in returns. So these banks, these institutions, these entities are

1615
01:56:14,239 --> 01:56:16,720
constantly as soon as money comes in the door, they

1616
01:56:16,720 --> 01:56:26,560
are lending it out the door. Money. The farmers chose

1617
01:56:26,680 --> 01:56:33,600
growing crops, the miners chose, you know, generating coal or copper.

1618
01:56:34,960 --> 01:56:39,039
The Jews were in the money growing business, like that

1619
01:56:39,199 --> 01:56:43,319
was the commodity in which they traded. So it's not

1620
01:56:43,560 --> 01:56:47,800
like the money hoarding business. It's the money trading business.

1621
01:56:49,760 --> 01:56:53,720
So money comes in, you lend it to somebody else

1622
01:56:54,479 --> 01:56:58,239
because now that guy's paying you interest. So what happens

1623
01:56:58,359 --> 01:57:02,399
if let's say the Federal Reserve starts shrinking the amount

1624
01:57:02,439 --> 01:57:07,319
of money at the table, Well, this is very bad

1625
01:57:08,279 --> 01:57:13,119
because you have been lending it out the door as

1626
01:57:13,279 --> 01:57:17,840
fast as it's been coming in. So if the money

1627
01:57:17,840 --> 01:57:24,680
coming in is drying up, but the amount of loans

1628
01:57:25,119 --> 01:57:31,239
that you have out is staying the same, then you're

1629
01:57:31,319 --> 01:57:35,920
about to have a really bad day because the money

1630
01:57:35,920 --> 01:57:39,279
that's flowing to you is also flowing to all of

1631
01:57:39,319 --> 01:57:43,920
the people that you lent that fucking money to. Right,

1632
01:57:44,000 --> 01:57:46,520
whether you're a business or a bank. If I knew

1633
01:57:46,720 --> 01:57:51,199
ten percent of the dollar supply, guess how much revenue

1634
01:57:51,359 --> 01:57:53,600
that that business that you lent a bunch of money

1635
01:57:53,600 --> 01:57:56,960
to is earning. Well, it's earning about ten percent less money,

1636
01:57:57,760 --> 01:58:01,600
ten percent less revenue because there's ten percent less money

1637
01:58:01,600 --> 01:58:06,880
in the system. This is why you need mass immigration.

1638
01:58:07,199 --> 01:58:13,039
This is why you need two percent inflation. Right, Why

1639
01:58:13,079 --> 01:58:15,439
does every central bank say, oh, we have a target

1640
01:58:15,520 --> 01:58:21,560
to inflation. Wait, so your goal is two percent inflation?

1641
01:58:21,680 --> 01:58:31,000
A year compounding. That's the goal. So your goal is

1642
01:58:31,039 --> 01:58:33,000
to just print two percent more money than you did

1643
01:58:33,119 --> 01:58:36,840
last year, and then that amount two percent more than

1644
01:58:36,880 --> 01:58:42,039
that the following year. Right, we need It's not that like, oh,

1645
01:58:42,199 --> 01:58:46,520
line must line go up. This is good. It's line

1646
01:58:46,640 --> 01:58:52,960
must go up or everything blows up. Once consumption starts

1647
01:58:53,000 --> 01:58:57,880
to backwardate. Once any of this starts to backwardate at all,

1648
01:58:59,000 --> 01:59:02,800
all of the leverage in a system imploats because it

1649
01:59:02,920 --> 01:59:07,439
needs growth. It needs growth to live. It's like a

1650
01:59:07,520 --> 01:59:13,520
cancer in the most literal sense. If it's not growing,

1651
01:59:14,640 --> 01:59:19,640
it's catabolically collapsing. Peruvian Bull is a great guy to

1652
01:59:19,720 --> 01:59:23,119
check out on this, Roberto, he'll talk, he'll tell you

1653
01:59:23,119 --> 01:59:26,560
all about it. The system cannot afford even the small,

1654
01:59:26,760 --> 01:59:30,560
the slightest backwardation. This is why they're in such a panic,

1655
01:59:30,640 --> 01:59:34,279
because as the boomers die off, there's no one to

1656
01:59:34,359 --> 01:59:40,479
backfill the consumption. This is why they're giving every fucking

1657
01:59:40,520 --> 01:59:44,399
the legal immigroid or legal immigroid, doesn't matter he gets

1658
01:59:44,399 --> 01:59:49,119
a government stimmy debit card because you need the spending

1659
01:59:49,279 --> 01:59:52,920
to continue. It doesn't matter that you're giving it to

1660
01:59:53,039 --> 01:59:58,520
a fucking sixty IQ Somalian to waste on fucking Netflix

1661
01:59:58,680 --> 02:00:04,359
and Dorrito's. That doesn't matter. The only thing that matters

1662
02:00:04,399 --> 02:00:09,039
is that he's buying something that the consumption continues, the

1663
02:00:09,079 --> 02:00:13,800
growth continues. So this is what's killing the system, Philo.

1664
02:00:14,680 --> 02:00:18,439
It also the fetish shrinking its balance sheet, the fetish

1665
02:00:18,479 --> 02:00:20,800
shrinking the amount of money in the system. The amount

1666
02:00:20,800 --> 02:00:24,880
of consumers in the system are shrinking. And this is

1667
02:00:24,920 --> 02:00:29,239
the real problem. Right, They've been inflating and then deflating

1668
02:00:29,279 --> 02:00:32,960
a little. Inflating and deflating a little. That's not directly

1669
02:00:33,039 --> 02:00:36,640
killing the system. This last bout through this is what

1670
02:00:36,720 --> 02:00:42,800
COVID really was. COVID was a grand ten trillion dollar heist.

1671
02:00:44,359 --> 02:00:44,560
Speaker 3: Right.

1672
02:00:44,720 --> 02:00:48,079
Speaker 4: The Fed was shrinking its balance sheet. Right when the

1673
02:00:48,119 --> 02:00:52,279
Fed raises, when central banks raise the interest rates, the

1674
02:00:52,319 --> 02:00:59,760
amount of money in the system goes down. So after COVID,

1675
02:01:00,600 --> 02:01:04,000
So COVID was basically a political weapon. You put a

1676
02:01:04,000 --> 02:01:09,119
gun to the Federal Reserve chair's head and you say,

1677
02:01:09,640 --> 02:01:14,520
print me seven trillion dollars, or you're basically politically murdered.

1678
02:01:17,119 --> 02:01:21,680
Seven trillion dollars goes into the system that gets used

1679
02:01:21,680 --> 02:01:27,359
to create more and more loans. It's levered up, except

1680
02:01:27,439 --> 02:01:30,720
for this time it just went and everybody, every big

1681
02:01:30,760 --> 02:01:35,479
corporation's pockets. It didn't trickle down because the lockdowns and

1682
02:01:35,520 --> 02:01:37,800
all the other bullshit they needed to sell, the con on,

1683
02:01:40,079 --> 02:01:44,279
the scenery, the set pieces. Well, that caused a whole

1684
02:01:44,319 --> 02:01:46,720
bunch of people to go out of business, and a

1685
02:01:46,760 --> 02:01:51,520
whole bunch of other people just straight up left the economy.

1686
02:01:52,119 --> 02:01:55,079
So in this last chance to prop it up, they

1687
02:01:55,159 --> 02:02:00,960
ended up doing damage that they can't undo. These people,

1688
02:02:01,520 --> 02:02:08,319
they it's a very simple system run by people that

1689
02:02:08,359 --> 02:02:13,079
don't understand complexity and third and fourth order consequences. So

1690
02:02:13,199 --> 02:02:18,239
even though the action that they're doing should have reciprocal effect,

1691
02:02:18,359 --> 02:02:20,760
and you know, I'm putting a dollar out and a

1692
02:02:20,840 --> 02:02:25,600
dollar come back in as everything checks out, well no,

1693
02:02:25,800 --> 02:02:28,119
because like when you gave that guy a dollar, he

1694
02:02:28,159 --> 02:02:30,079
gave to somebody else and that guy got hit by

1695
02:02:30,079 --> 02:02:34,680
a bus. So the dollar you're getting back in looks

1696
02:02:34,720 --> 02:02:38,079
like a dollar, but you're actually richer a dollar. But

1697
02:02:38,159 --> 02:02:42,119
you're short a consumer, and that consumers you need him

1698
02:02:42,199 --> 02:02:44,319
to spend X amount of dollars for the next thirty

1699
02:02:44,359 --> 02:02:49,479
fucking years or whatever. It's complexity that's killing it. The

1700
02:02:49,520 --> 02:02:53,640
system got so complex that the usual machinations that they

1701
02:02:53,680 --> 02:02:56,600
were able to use to keep this thing in check. Right,

1702
02:02:57,800 --> 02:03:05,279
the boom and bust cycle, solidation cycle, the accumulation cycle,

1703
02:03:05,319 --> 02:03:10,279
and then the distribution cycle. Right, Like imagine it like

1704
02:03:10,319 --> 02:03:15,079
breathing in and out. Yes, we all get poorer each time,

1705
02:03:16,000 --> 02:03:18,479
but the amount of consumption stays the same and grows

1706
02:03:19,920 --> 02:03:22,800
but each but these as the system got more and

1707
02:03:22,840 --> 02:03:26,880
more complex, you can't pull away and then effect and

1708
02:03:27,399 --> 02:03:29,640
think that you can reinflate it right back up again.

1709
02:03:31,079 --> 02:03:34,560
Speaker 2: Well, it's sosperate for money coming in from consumers like

1710
02:03:34,640 --> 02:03:37,520
you after pay you of Klarna, you have these unsecured

1711
02:03:37,520 --> 02:03:40,800
installment loans, You have these instances where you're trying to

1712
02:03:40,840 --> 02:03:44,800
get it seems to the shortest possible time cycle of

1713
02:03:44,800 --> 02:03:47,319
getting money out of the consumer. And the problem when

1714
02:03:47,359 --> 02:03:50,920
you shorten and short and shorten is eventually like one,

1715
02:03:51,039 --> 02:03:53,079
people just run out of money to put into the

1716
02:03:53,119 --> 02:03:59,239
system period. But two they become so thoroughly an indebted

1717
02:03:59,319 --> 02:04:04,399
class of people that there is just a This is

1718
02:04:04,439 --> 02:04:06,880
where like the left wing sort of things is actually correct,

1719
02:04:06,920 --> 02:04:11,680
This total disparity between rich and poor, it just gets insane.

1720
02:04:11,720 --> 02:04:15,800
Speaker 4: And this actually which rich people actually spend very differently

1721
02:04:15,840 --> 02:04:19,600
than poor people right, So this is why they're pumping

1722
02:04:19,880 --> 02:04:24,920
fucking all of these bodies in these countries, thinking that

1723
02:04:24,960 --> 02:04:29,039
it's a one to one replacement. But the spending is

1724
02:04:29,199 --> 02:04:33,079
entirely different. Right, So rather than spending in the economy,

1725
02:04:33,119 --> 02:04:35,319
the immigrants are descending it all the way in remittancees

1726
02:04:36,520 --> 02:04:40,439
or other things. Right, They're not spending the same. So

1727
02:04:40,520 --> 02:04:44,279
the businesses that depended on these they're not able to

1728
02:04:44,319 --> 02:04:50,359
survive anymore. Right, it's complexity. Sorry, go ahead, Well.

1729
02:04:50,199 --> 02:04:52,199
Speaker 2: I just think it's to sort of draw a through

1730
02:04:52,239 --> 02:04:55,960
line through it. It seems as though these financial tools

1731
02:04:56,000 --> 02:04:58,920
and instruments are perfect for a society that is in

1732
02:04:58,960 --> 02:05:03,600
the process of industrializing and tying it to physical goods.

1733
02:05:03,640 --> 02:05:08,039
Returns hard reality. When you just put this financial tools

1734
02:05:08,039 --> 02:05:11,199
and system back in on itself over and over and over,

1735
02:05:11,680 --> 02:05:15,399
you just have to yeah, and you get entropy, and

1736
02:05:15,479 --> 02:05:18,840
it's just this, uh, it's sort of this impossible cycle

1737
02:05:18,880 --> 02:05:19,640
to escape out of.

1738
02:05:19,680 --> 02:05:23,199
Speaker 4: I wonder well they were trying to. This is why

1739
02:05:23,640 --> 02:05:28,840
does everybody remember central bank digital currencies? Yeah, like they

1740
02:05:28,880 --> 02:05:33,800
tried that shit. The Bank of International Settlements is still

1741
02:05:33,880 --> 02:05:39,319
rolling ahead with it. Luckily it's illegal in the US now,

1742
02:05:40,680 --> 02:05:44,560
but that can change, Like This is their last ditch attempt, right.

1743
02:05:44,640 --> 02:05:48,439
Their goal is to put it entirely in the computer

1744
02:05:49,119 --> 02:05:50,800
and then you can just move it up and move

1745
02:05:50,800 --> 02:05:54,479
it down. They think that all right, well we've tried

1746
02:05:55,439 --> 02:06:00,439
letting the consumption thing happen organically, so now we need

1747
02:06:00,479 --> 02:06:03,279
to will just burn money right in your bank account.

1748
02:06:04,119 --> 02:06:04,319
Speaker 3: Right.

1749
02:06:04,359 --> 02:06:08,119
Speaker 4: They're trying to now control consumption. They tried to control

1750
02:06:08,199 --> 02:06:10,279
the financial end of it, the fiscal end of it,

1751
02:06:11,760 --> 02:06:14,199
but it always blows up because they don't have control

1752
02:06:14,199 --> 02:06:17,279
of the other thing. The other side of it, the

1753
02:06:17,359 --> 02:06:19,439
central bank digital currencies, is for them to try and

1754
02:06:19,479 --> 02:06:26,000
control consumption and production in both consumption of money and

1755
02:06:26,119 --> 02:06:31,800
production of money. It's not going to work because these

1756
02:06:31,920 --> 02:06:34,920
these nations, these these institutions are not going to survive

1757
02:06:35,039 --> 02:06:37,520
long enough for these systems to be rolled out. In

1758
02:06:37,560 --> 02:06:40,760
Troubleshot and all that other stuff. Every country that tried

1759
02:06:40,760 --> 02:06:43,560
to roll out a central bank digital currency ended up

1760
02:06:43,560 --> 02:06:46,359
having to call it back because everyone was already hit.

1761
02:06:46,399 --> 02:06:50,359
Everyone's hip to it now, like there's the Central Bank

1762
02:06:50,640 --> 02:06:53,119
of Europe is like, yeah, we're moving ahead with our

1763
02:06:53,199 --> 02:06:56,319
central bank digital currency plan, and every citizen of Europe

1764
02:06:56,319 --> 02:07:00,399
it's like, I'm not taking that absolutely not. Like this

1765
02:07:00,479 --> 02:07:03,720
shit used to work because they controlled all the media

1766
02:07:05,359 --> 02:07:08,039
and you weren't finding out about a central bank digital

1767
02:07:08,119 --> 02:07:11,680
currency until one day you were just told all of

1768
02:07:11,720 --> 02:07:13,880
your dollars are gone, and now you have you know,

1769
02:07:14,000 --> 02:07:16,640
these e couponts or like, you didn't have a fucking choice.

1770
02:07:17,039 --> 02:07:18,680
They got to have the drop on you. They had

1771
02:07:18,680 --> 02:07:21,680
the element of surprise every time, and without the element

1772
02:07:21,720 --> 02:07:25,800
of surprise, none of this shit works. I mean how

1773
02:07:26,000 --> 02:07:30,279
it's like the other trillion gayops they've tried to do that.

1774
02:07:30,800 --> 02:07:33,039
By the time they try and roll out the gayop,

1775
02:07:34,039 --> 02:07:36,800
the Internet has already figured out what the gayop is

1776
02:07:37,119 --> 02:07:39,880
and told everybody about it. So then they're like, oh, yeah,

1777
02:07:39,920 --> 02:07:42,319
just kidding. We were just like that was that was

1778
02:07:43,359 --> 02:07:45,720
That was just a you know, that was a gag

1779
02:07:46,039 --> 02:07:49,319
our bad, Like, oh that was a joke. We didn't

1780
02:07:49,359 --> 02:07:54,279
really plan on doing that. It's comical now because the

1781
02:07:54,319 --> 02:07:57,239
system is more complex than these people's brains have the

1782
02:07:57,279 --> 02:08:02,479
ability to understand. Literally nobody has to brains. The machine's

1783
02:08:02,520 --> 02:08:02,960
too big.

1784
02:08:03,600 --> 02:08:07,000
Speaker 2: I think the last thing they're able to successfully in quotes,

1785
02:08:07,079 --> 02:08:10,000
pull off was the implementation of the Eurozone.

1786
02:08:12,239 --> 02:08:14,319
Speaker 4: Everybody, if you want to hear if you want to

1787
02:08:14,359 --> 02:08:17,520
hear how that works and how it's going to come apart.

1788
02:08:17,600 --> 02:08:21,279
Check out my episode with the twentieth Century. It's all

1789
02:08:21,319 --> 02:08:24,560
on shadow banking and the offshore dollar market.

1790
02:08:25,600 --> 02:08:25,800
Speaker 3: Yeah.

1791
02:08:25,840 --> 02:08:28,239
Speaker 2: I think that sort of reminds me of nine to eleven,

1792
02:08:28,239 --> 02:08:31,079
where it's just there was not the media and internet

1793
02:08:31,159 --> 02:08:34,880
environment present to pick apart and criticize this, and there

1794
02:08:34,880 --> 02:08:38,960
were still centralized control of media institutions. But at this

1795
02:08:39,039 --> 02:08:42,000
point now, I mean basically they are making moves that

1796
02:08:42,039 --> 02:08:44,840
are being refuted in real time, and also that all

1797
02:08:44,880 --> 02:08:49,319
of they're stupidly still putting out all of their decision

1798
02:08:49,359 --> 02:08:52,000
making processes and policy papers out in the open too,

1799
02:08:52,239 --> 02:08:56,479
like they haven't learned this lesson from what I can tell,

1800
02:08:58,560 --> 02:08:59,439
as I gotta.

1801
02:08:59,239 --> 02:09:05,720
Speaker 4: Wrap, likewise, I have given all I have to give the.

1802
02:09:05,880 --> 02:09:08,680
Speaker 3: Well, I'll leave you with your white pill.

1803
02:09:09,319 --> 02:09:13,039
Speaker 1: Trump approves another six hundred and fifty millions of Israel.

1804
02:09:13,159 --> 02:09:16,399
Congress approved it too. That makes twenty billions Israel and

1805
02:09:16,520 --> 02:09:19,560
under a year, and that doesn't include more billion they

1806
02:09:19,560 --> 02:09:20,159
already get.

1807
02:09:22,840 --> 02:09:24,720
Speaker 4: So what is that already total.

1808
02:09:26,439 --> 02:09:26,960
Speaker 3: This year?

1809
02:09:27,159 --> 02:09:30,520
Speaker 1: The total comes out to twenty billion on top of

1810
02:09:30,800 --> 02:09:34,640
but that's that's in addition to the three point eight

1811
02:09:34,680 --> 02:09:37,039
billion they get for not going towards.

1812
02:09:36,760 --> 02:09:42,840
Speaker 4: What you call it twenty five billion, and he's got

1813
02:09:42,880 --> 02:09:48,520
three more years. It's time four man, that's a ten x.

1814
02:09:48,760 --> 02:09:54,439
Gary Madelson spent one hundred million for four years, she's

1815
02:09:54,479 --> 02:09:57,840
getting one hundred billion. That's a good trade.

1816
02:09:58,479 --> 02:09:59,960
Speaker 3: That's some good interest right there.

1817
02:10:00,479 --> 02:10:04,880
Speaker 2: We live in a time where a strong competent person

1818
02:10:04,920 --> 02:10:06,359
who has worked all like, I don't know, I don't

1819
02:10:06,359 --> 02:10:09,039
want to go all Caesarist, but it's just like the

1820
02:10:10,039 --> 02:10:12,840
critical nature of this time as far as changing course

1821
02:10:13,479 --> 02:10:17,800
and seizing upon the city of London's Zionists all of

1822
02:10:17,840 --> 02:10:23,600
their disadvantages, moving on it sort of charting this national socialist,

1823
02:10:23,680 --> 02:10:28,640
frankly reindustrialization style in this country. It's just such a

1824
02:10:28,760 --> 02:10:32,600
perfect angle that so many people left and right are

1825
02:10:32,640 --> 02:10:33,199
ready for.

1826
02:10:33,880 --> 02:10:36,680
Speaker 4: I just find to let him break it first, Oh man,

1827
02:10:36,680 --> 02:10:39,079
I don't have the power to break it. They have

1828
02:10:39,159 --> 02:10:41,199
the power to break it. Let them break it.

1829
02:10:42,600 --> 02:10:45,920
Speaker 2: And it'll be spectacular spectacular to see you.

1830
02:10:46,279 --> 02:10:49,119
Speaker 4: They're they're trying to break the Republican Party to kick

1831
02:10:49,159 --> 02:10:52,840
out the guys like us. Okay, well, Pete and I

1832
02:10:53,119 --> 02:10:56,079
we couldn't, we could we could never be able to

1833
02:10:56,119 --> 02:10:58,960
break the Republican Party. Please don't throw me in the

1834
02:10:59,000 --> 02:11:00,319
briar patch please.

1835
02:11:03,239 --> 02:11:06,239
Speaker 1: Al Right, guys, I appreciate this one, and uh let's

1836
02:11:06,239 --> 02:11:07,159
do it again real.

1837
02:11:07,039 --> 02:11:11,159
Speaker 4: Soon, all right, man, take everybody out a good night, take.

1838
02:11:11,000 --> 02:11:13,720
Speaker 3: Care of me. Thank you, thank you,