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Speaker 1: Got this strange stupid uh said this comedy act, this

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comedians saying how long is it going to be before

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AI in vents entire businesses and they turn out to

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have like a billion dollar market value in a couple

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of days.

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Speaker 2: What Oh, actually, no, that just happened.

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Speaker 1: No, it did. Zach Abraham will tell us about this.

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We'll also talk about Elon Musk's Department of Government Efficiency.

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Now for whatever reason, co starring Vivid Remeaswami, Zach Abraham,

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chief investment officer Bolwart couple of management joins us, and

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we do this all with the good grace and help

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of God Almighty.

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Speaker 3: The Todd Herman Show is one disapproved but big pharma

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technocrats in tyrans everywhere from the high mountains of Free America.

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Here's the Emerald City, Exid her Man.

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Speaker 1: Today is the day the Lord has made, and these

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are the times to which God has decided we shall live.

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It's wise counsel day on the Todd Herman Show. That means,

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Zach Abraham joins us, good to see your brother, welcome back,

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thanks for having me.

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Speaker 4: Good to be back.

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Speaker 1: Man. I love it when your voice is all kind

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of like horse and you sound kind of I don't know,

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smoky and seriously, like the old man has been in

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the in the pity.

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Speaker 2: Bye bye, I got by orders over there.

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Speaker 5: So this is a byproduct of parenting. Unfortunately, I've had

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those moments.

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Speaker 2: Those are the moments your kids remember.

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Speaker 1: Oh my gosh, I didn't know dad could do that.

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My daughter once said to me she had taken to

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hanging out with a friend who was a bad influence

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and is sadly lives a very sad life, very sad,

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but she had taken to this girl's attitudes. So we're

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sitting down for family dinner and my wife serves some

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food and my daughter says, do you expect me to

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eat this garbage?

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Speaker 4: Ooh?

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Speaker 1: And I said, pardon.

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Speaker 4: Me, that one over like a lead balloon.

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Speaker 3: Yeah.

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Speaker 2: She goes, do you expect me to eat this garbage?

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Speaker 1: I said, your mom worked really hard on that, and

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you're not going to speak to my wife that way.

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Speaker 2: Well, and she said, this girl's name, they always have pizza.

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Speaker 1: Do they apologize to your mother? Please? And then my

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daughter said, don't yell at me. Oh. My wife said,

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Dad's not yelling. She goes, he's yelling. Then she turns

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to me, you're yelling. I said, would you like to

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hear me yell? You're yelling now, I'm warning you.

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Speaker 2: Would you like to hear me yell?

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Speaker 4: Yeah?

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Speaker 1: Sure, And I did, Zach, I did, And I got

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some pipes. Man, back in the day, I had some pipes.

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And her horrible look.

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Speaker 2: On her face was and I quite that was me yelling,

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please go to your room.

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Speaker 5: Yeah yeah, we uh, let's put it this way. The boys,

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the boys pushed their mother one step too far last night.

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And it was short, it was very short, but but

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it was but it was powerful.

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Speaker 1: And that's what dad steps in And did you give

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them the line that's my wife?

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Speaker 4: Oh? Yeah, yeah, I don't. I don't say your mom.

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Speaker 5: I always say, don't talk to my wife that way, right,

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Like that's it just it hits different. Yeah, it all

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of a sudden, and it reanchors them to the idea

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of what you're saying to her.

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Speaker 4: You're indirectly saying to me. Keep that in mind, right

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and she and and she might have.

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Speaker 5: The patience to put up with it, but if I

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hear it, I'm I'm going to open up a can

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on it.

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Speaker 1: I lived in a home of a dear, beautiful Jesus

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driven Catholic family and the dad there is a guy

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consider a godfather, and he was he's a gentleman, but

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he was also a record holding college run back who

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could smash people up. Oh yeah, we're in the kitchen

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one day and his oldest son had been running with

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bad people, making some bad chemical decisions, and in a

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state of chemically enhanced ego, got into his mom's face

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and said, you clean, You do the dishes, and she said, son,

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it's your eternity to the dishes. He said, did you

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hear me? I said, you do it, woman, And my

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godfather walked across the room and said, you have one

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second to apologize to my wife.

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Speaker 2: One boom, knockout punch dropped him like a bad habit.

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Speaker 1: Bega Cement.

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Speaker 2: And my friend woke up. I mean he was my

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brother's friend.

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Speaker 1: My best friend's brother woke up, became less chemically enhanced

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ansd like almost instantly, looked up from the floor and said,

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I'm sorry mom, I'm sorry Dad.

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Speaker 2: And he said go upstairs and I'll be up to

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talk to you in a bit.

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Speaker 1: And on the way up I heard him talking to

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his younger brother, going is he gonna hit me again.

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Speaker 4: You never did that again.

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Speaker 1: No, no, and all of us I remember going, oh wow,

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oh so that's still there. All right, So enough dude talk.

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We got to get into this Department of Government Efficiency

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and then this uh, this AI invented company. So much

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to talk about with Zach Abraham, Chief mes Officer, Bulwark

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Capital Management. I will say this, if you've been injured,

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either by being punched by your dad and dropped by

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a bag of wetsman, or a horse riding injury or

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a car injury, and you are being told that either

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this is your life, or you're going to have to

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be on some sort of oxy derivative for life, or

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some kind of painkiller or a whole bunch of pharma,

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or you're facing surgery. Can I just give you an

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alternate path. There was a woman who had a horrible

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horse riding accident and she was hemispherically paralyzed, so one

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side of her body was paralyzed. And her doctors in

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Canada said, you know what, by a new house, there's

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going to have to be one story because you're no

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longer going to go en up and downstairs. You're going

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to be in a wheelchair. That's where she thought life

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was at She heard about renew dot Healthcare and Port

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of Art to Mexico, run by some friends of mine.

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They become friends through business. Last kind of shot, she

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flew down.

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Speaker 2: They took her off.

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Speaker 1: The plane in a hospital bed. They brought her to

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renew and within I think about three weeks. My friend

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Steve Anderson, who is the managing director of renew he

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was walking through the hallway and the lady said, hey,

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Martin Stephen. He said, oh, yeah, good morning. Wait and

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she was walking. How'd that happen? By the miracle of

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ethically gathered stem cells from placentas in ubiblical course, only

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they got into her body and they attacked the inflammation

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that was causing a lot of these problems, and then

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they rebuilt. That's what these stem cells do. They're building

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cells so they can rebuild muscle, tendon, they can rebuild tissue,

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they can rebuild cartilage. That woman walked out of that

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hospital and didn't have to change her house or anything.

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If that's a traumatic incident, this can also work for you.

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Just go to renew dot Healthcare. It's e n U

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E dot Healthcare. Elevate your quality of life by getting

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actual healthcare, Zach. The Trump administration is doing some very

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smart things. This is for the people dot com and

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let's just give credit or credits to do. President Obama's

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team had set up this petition thing where you could

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go and create a petition policies that should be back.

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President Trump has this as well. But this is on

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five key areas. Health for the people, liberty for the people,

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peace for the people, economy for the people, food for

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the people. You've looked at it, I mean as a

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guy who's if we do share over my money and

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that of many other people, a what do you think

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of the idea and be what would you be saying

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about this stuff? Well?

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Speaker 4: I love it and people are so.

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Speaker 5: I saw a Twitter post the other day where somebody said,

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you know, and it was posted respectfully. It was looking

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for answers, but it said something along the lines, Okay,

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so for all of you people that voted for trumpet

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or supporting these policies, you know, why is it that

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you don't seem to have any fears about the elimination

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of the Department of Education and how that will negatively

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impact kids with learning disabilities or something like that. And

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it was a respectful honest question, right, And it kind

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of hit me at that point. I was like, man,

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we got a lot of work to do. Like, first

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of all, the Department of Education has absolutely zero to

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do with the interaction between your teacher and your child

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on an ongoing basis.

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Speaker 4: And moreover, when you look at how.

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Speaker 5: It was such a ridiculous So I'm kind of using

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this as a panacea, or not really a pantas, but

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I'm using this as a broader explanation or a broader

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characterization to describe what I think is the issue with

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so many of these departments right where, And if you

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think about it, maybe at the very least, you should

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have a very small panel of people that decide what

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national standards are and then leave it up to the

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education system in that state that is dealing in that community,

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that understands the unique abilities or disabilities and all the

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things of that locale right that zip code, make it local, right,

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and you don't need the Department of Education. That the

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Department of Education works so well? Why is it that

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we're the number one expect so we pay more per

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student than any other country on the face of the earth,

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and yet our test results are thirty.

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Speaker 4: One in the world world and dropping like a rock.

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Speaker 5: Right, If the Department of Education was good at what

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they did, that wouldn't be that, that wouldn't be the dynamic, right.

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So ay, I think we need to educate people to

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realize that no, no, guys, we're not cutting services, We're delivering them.

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Speaker 4: Okay, We're just getting rid of the.

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Speaker 5: Waste and the bureaucracy that has mucked this whole thing up.

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And the education system is ground zero for that. It's

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a perfect place to start. Why does it malfunction because

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it wasn't made or designed for the benefit of students.

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It was made for the benefit and pleasure of the

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teachers union exactly. That's that's what controls it. So I

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love the concept. I think that there is unbelievable amounts

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of waste and inefficiency and I am I am cheering

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it on. My only fear is that I get over

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excited and expect.

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Speaker 4: Too much out of it.

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Speaker 5: Yeah, you know, because I mean, you know, they've talked

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about eliminating sixty seventy percent government spending.

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Speaker 4: That ain't gonna happen, Okay.

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Speaker 5: But man, I mean these in my opinion, I don't

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think that there is much more of a clear and

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present danger to democracy today outside of the outside of

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the push against the freedom of speech than is embodied

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by the regulatory system in this country. They have this

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godlike power that is not legal, that is not constitutional,

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and that whole apparatus needs to get ripped down and

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redone agreed.

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Speaker 1: And Jimmy Carter was the guy who put together the

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Department of Education, so it's relatively recent. And yes, you're right.

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He did this to the payoff to the unions. And

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it is a job protection, sour protection, retirement protection racket,

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and that's been its goal. That's why it exists. I say, okay,

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national standards, fine, that can be done through Congress, and

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they should be slim line and really really focused on hey, reading,

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writing and arithmetic. And if you want to make some

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focuses for areas we needed the economy, fine, but we

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don't need a Department of Education because guess what, there's

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a Department of education in this state. And guess what

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there's a district state like in your state at Washington.

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Do you know that you pay intermediaries to go to meetings.

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You know this is true.

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Speaker 2: You have a job description each each district pays people.

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Speaker 1: To go to meetings in Olympia. So their job is

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to go to Olympia, your capital, hear things and come

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back and tell people what they heard.

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Speaker 4: That's efficiency man.

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Speaker 1: Right right, And there are these things called zoom meetings

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like we're doing right now remotely.

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Speaker 2: Here's here's my thing.

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Speaker 1: If I were to go through this and education for

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the people is not on here, that's more of a

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that's more of a government efficiency thing. If I look

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at health for the people, liberty for the people, peace

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for the people, food for the people, economy for the people.

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Here's my thing on health for the people. Want to

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make a revolutionary step. All health procedures have published prices. Yeah, yeah,

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how much is that rotator cup surgery?

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Speaker 4: Yeah?

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Speaker 1: Oh, we can't tell you because it could differ. Okay,

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So what's the variant? Well, we can't tell you. It

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could be a ten or fifty percent. Okay. How is

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it that I can go into an auto mechanic and

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say I need to have an engine replace. What's that

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going to cost? Well, there's a five to ten percent differential,

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giving on some difficulties and parts, and so you might

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have some areas that need extra help, so it'll cost

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you five thousand dollars or four thousand, five hundred, five thousand,

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five hundred bucks. Okay, fair enough, right, I'll sign that.

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That's great, I'll sign off on that. But you go

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into the hospital for procedure, they'll say here's the down payment,

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but they don't advertise it. They don't put out you

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can't comparison shop. You should be able to comparison shop

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all of these things. And let's start. Let's bring back this.

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Let's bring back catastrophic insurance which was outlawed through obombacare.

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So you want a.

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Speaker 2: High deductible and you got that.

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Speaker 1: That should so that you don't need to pay you know,

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these eight hundred nine hundred dollars month things you're only

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that's actually insurance in case something bad happens. And then

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get government hands off everything else you want to pay.

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Subscription medicine, write that off. And I think that health

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based decisions such as subscription medicine, that is, subscription doctors

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two hundred and fifty bucks a months so you can

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see the doctor whenever you want. Why on earth do

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I need to pay taxes on that? Why do I

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need to pay a tax on something that is designed

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simply to make sure that I remain healthy, because the

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end result of not remaining healthy is look at Medicare

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and Medicaid and where they're at. That would be kind

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of where I would start with health for people. I

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would also very much start and I would concentrate in this.

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Why on earth do we allow the government schools to

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program kids to eat simple sugars and fats as their

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sole source of foods? Like change that around. That's some

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of my ideas, And that impacts industry, and I don't care.

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I mean, governments and businesses can adapt to that. What

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do you think?

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Speaker 4: No, I'm with you one hundred percent.

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Speaker 5: The other one that I would make a change to

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is medical malpractice, meaning you look and whatever. We're having

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a conversation about these kinds of things. It kind of

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reminds me of a conversation about taxes, meaning listen, let's

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be adults in the knowledge that there is going to be.

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Speaker 4: No painless solution, right.

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Speaker 5: But bottom line is, medical malpractice is doing two very

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important things that are deleterious to all of us and

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that are negatively impactful to our government or our finances,

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and then most importantly, are negatively impactful to the quality

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of care we get.

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Speaker 4: And that is because and you can see it in

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the stats.

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Speaker 5: Okay, as the cost of medical malpractice insurance has increased,

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compensation for doctors by and large, especially surgeons has decreased. Okay,

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so wouldn't you know it, the number of people that

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are trying to be surgeons or doctors has plummeted as

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a percentage of the population.

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Speaker 4: Right So, by and large, bye bye, by rule, we

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are getting.

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Speaker 5: Less and less of the talented people and otherwise would

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be higher earners. Okay, so we all, we all suffer

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from that. We don't have our best and brightest in

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the medical industry. The other thing is that you cannot

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put we as taxpayers are paying the burden anyway right

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through exorbitantly higher medical costs. And you need to like

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make a multi tiered system, whereas if something is gross negligence,

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like a doctor was high or drunk or something like that,

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that should be one category. But you know, like a

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doctor will try something. And I've talked to several surgeons

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about this, and I have a few as clients where

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they're like, you know, there's a lot of times where

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there's something kind of controversial or new that we could

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try in a scenario where we don't think the person

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has any other hope and they're like, Zach, we won't

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do it because if it doesn't work, then we get

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blamed for that. Whereas if we just sort of let

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them die he goes, our whole career isn't threatened.

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Speaker 1: Yeah, and he goes and he goes.

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Speaker 4: So what are you supposed to do?

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Speaker 1: Right?

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Speaker 5: So you got to get a hold of the malpractice

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situation in this country. Meaning, look, man, I value human

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life immensely, But if a guy dies because a mistake

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was made or something was tried and it didn't work

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or something like that, it doesn't mean that his family

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should get thirty times his annual wages or one hundred

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times his annual wages.

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Speaker 4: It just because we all just end up paying that expense.

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Speaker 1: Yeah, I got you, and I would only I would

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only provide this pushback that the number one cause of

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death right now for people who visit the hospital as

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physicianaire right. Okay, so but you just said in the

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case of death, right. But I and I agree there

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need to be some reasonable limits on this. Thirty times

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someone's earnings per year, no or lifetime earnings. No, Because

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now you've won the lottery replacement of that. But I

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also say this that in terms of health for the people,

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you know my view on big pharma and how they

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own everything and how they're simply not our friends. I

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would say to big Pharma, if you're providing a drug,

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any drug, has to have an addiction scale on it.

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Any thing you give anybody you need to disclose on

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the packaging. This is let's and we need to develop

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an addiction scale. This is the this is a ten

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for addiction, and you have to tell people this. The

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likelihood of you ever getting off this drug is very low.

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And to doctors who prescribe it, if you prescribe it

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and they come back and say I want off this drug,

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you will publish your prices in advance for helping them

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get off that drug, step by step by step. And

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here's what I mean to do here is not to

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tie their hands, not to set up our melt and

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practice stuff, but to have a doctor think really long

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and hard. Do I want to take on the job

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of getting a sixteen year old off of an antidepressant

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and anti anxiety drug cocktail I've given them, or would

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I maybe rather look into sunshine and exercise and things,

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maybe even caffeine which I use to manage depression, things

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like that, and I think that could be a right

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sizing of the economy for health right and the folks

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of that. We'll get to some of these other things

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with Zack Abraham, including got to talk about this company

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that it's a specific industry, very specific kind of a

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new industry that's been set up by AI. We'll talk

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about this with Zach Abraham, Chief Investment Officer Bulwark Capital Management.

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I got a note from John who runs Alan Soaps

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for his son. If you're new to the show, Allan's

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has been a longtime partner of us. They frankly they

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couldn't afford an add on this on this cast. So

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it's something we do in a developmental sense to help them,

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and we're committed to it. We love it.

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Speaker 2: Alan had his fourteenth birthday.

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Speaker 1: Two days ago, oh well, and he's deeply appreciative for

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all the birthday wishes. He also wants you to know this,

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and John wants you to know this. If this is

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the reason you buy the soap, so be it. But

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John doesn't want you to buy it just to celebrate

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Alan's birthday. He wants to hear from you what you

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think of this soap. It is made in America, it's

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all natural. It's made by a family of three generations

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of making expertise. And just picture this at Thanksgiving dinner,

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people go into your bathroom. They use the liquid version

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called Ian's Blend, named after Allan's brother Ian, both of

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whom are very impacted by autism. That's the role of

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Allan's is to employ people like this, kids who need work,

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Young people need work. The conversation that ensues at Christmas time.

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Imagine giving people a subscription to Alan Soaps so they

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become habituated with it. Give them the story of Allan,

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00:20:27,319 --> 00:20:29,599
that he was supposed to die, he didn't get it,

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00:20:29,640 --> 00:20:32,440
a mission for him, and now three young people work

395
00:20:32,480 --> 00:20:34,559
there rather than having been aboarded. Go to Alan Soaps

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dot com. Slash Todd that's Alan Soaps dot com, slash

397
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Todd Tucker, Zach Abraham about this for the People dot com.

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President Trump's team has put this together. So the big one, Zach,

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and this is a big umbrella question for you, is

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top right hand for them is economy for the people.

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So what does that mean in your mind? Economy for

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the people. I've got my ideas. I think President Trump

403
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has his obviously lowing prices, lowering inflation. But if he

404
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were to bring you in here as one of the

405
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experts to invest, you know, to involve yourself in an

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economy for the people, what would you say to the

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president aside from bring back Trump stakes.

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Speaker 5: Well, I think I think one of the things that

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he's approaching, or that he's discussed at length and he

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addressed actually in his first term, is predatory practices of

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other countries, meaning you know, setting up either via tariffs

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or new trade agreements, preferentially new trade agreements.

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Speaker 4: Right.

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Speaker 5: Like that's like people need to understand when Trump sitting

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there talking about I love tariffs, it's a beautiful word.

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He's talking in the context of there's nobody that wants tariffs. Okay,

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tariffs don't benefit anybody per se. What they do, and

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like we've talked about a lot, is they level the

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playing field. Meaning what you would prefer to have, like

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I said, is free trade. But free trade assumes that

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both parties are acting according to the same slabties in

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the same rules, right, And so number one you need

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to address well, like I said, which he's doing and

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which he's done. You need to address things that enable

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corporations to export jobs. Now, look, they should be able

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to do that, Okay, if a corporation wants to move

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its production facilities to China, it should be able to

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do that. But there should be a cost, a bottom line,

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and not even really look at it like a cost.

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We just say, hey, we're not punishing you. We're just

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going to give you a bonus if you make it here. Right,

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We're just we're gonna give you. We're gonna provide you

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an incentive to make it here. And what is that incentive?

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You won't get tariffed, right, So you absolutely have to

435
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do that. I would like to see them. I would

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love to see them make educational expenses tax deductible. I

437
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think that would be a huge help to the economy.

438
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I would like them to see them address the student

439
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loan issue. I think that could make it. What you

440
00:23:06,160 --> 00:23:09,079
have to do is you you you have to as

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00:23:09,119 --> 00:23:11,599
crazy as well, maybe hopefully it doesn't sound crazy. You

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have to slow down the amount of loans and money.

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Speaker 4: That are going to institutions, so they going to colleges

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you know.

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Speaker 2: Don't need the money. They can do their own loans,

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they can carry their own paper.

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Speaker 1: They on the float alone. These guys can put people

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through college for free. It's the biggest scam in the world.

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Speaker 4: It really is.

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Speaker 5: It's it's when you're talking about endowments and excess of

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fifty billion dollars and the proceeds from that endowment are

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considered tax like, are non taxable because it's a non

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for profit. Well, if that's the case, then why are

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you taking so much federal you know, spending, right, you

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have your.

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Speaker 4: Your endowments just via non risk US.

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Speaker 5: Government loans can spit off over two and a half

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to three billion a year in interest.

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Speaker 4: How much tuition and teacher salaries that pay.

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Speaker 1: For all of them?

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Speaker 5: All of them right, So the whole thing is a racket,

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and all they're doing is wasting that money, using that

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money to have worthless degrees that enslave kids in financial bondage.

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Speaker 4: So yeah, the other thing is I would also like it.

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Speaker 1: Now.

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Speaker 5: I don't think they'll do this immediately, and this is

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going to be a much bigger issue, but I would

468
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also like to see them, you know, the immigration look

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at dealing with immigration will be an assist to the economy,

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you know, all of these things they're talking about is

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going to make I mean, all of these things are beneficial.

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And you know it's not that long ago that virtually

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everything they were talking about would be considered nonpartisan.

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Speaker 1: Agreed, These are not wild things.

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Speaker 3: No.

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Speaker 1: My big fantasy gets and we've talked about this before,

477
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is the fair tax, the actual official fair tax.

478
00:24:53,319 --> 00:24:56,119
Speaker 2: And as members of Congress back that that's a consumption task.

479
00:24:56,240 --> 00:24:58,519
Speaker 1: That tax that I think it waives the first eighty

480
00:24:58,559 --> 00:25:01,480
grand in spending is non tax, and then it takes

481
00:25:01,519 --> 00:25:03,960
some core things like life saving steps, et cetera. Some

482
00:25:03,960 --> 00:25:07,119
of the things you've talked about education are non taxable,

483
00:25:07,119 --> 00:25:09,599
consumption based things. And we don't need to get into

484
00:25:09,599 --> 00:25:10,759
that because you know I've talked about it. But let

485
00:25:10,799 --> 00:25:13,519
me bring this up. President Trump has said that he

486
00:25:13,599 --> 00:25:16,400
wants a ten percent He wants to cap credit card

487
00:25:16,480 --> 00:25:20,839
interest a ten percent. Now that sounds very Liz Warren,

488
00:25:22,000 --> 00:25:26,720
very top down sort of progressive Democrat. To tax it

489
00:25:26,759 --> 00:25:31,119
at ten percent, I'd be super popular with people. I

490
00:25:31,119 --> 00:25:34,400
do think credit card companies are deeply predatory. I think

491
00:25:34,440 --> 00:25:37,160
that when they're hiding twenty eight percent interest rates from people,

492
00:25:37,240 --> 00:25:39,559
and people don't pay attention to that, and they're really

493
00:25:39,599 --> 00:25:42,759
predatory with the poor and with kids, like my daughter

494
00:25:42,839 --> 00:25:46,160
turned eighteen. The day she turned eighteen, that the credit

495
00:25:46,160 --> 00:25:49,039
card thing started arriving in the mail and pre approved

496
00:25:49,079 --> 00:25:51,400
and you're preapproved, and like, oh, you're not pre approved.

497
00:25:51,440 --> 00:25:53,640
We are. That's what you're saying, is your mom and

498
00:25:53,680 --> 00:25:56,079
I are pre approved. So what do you think of

499
00:25:56,119 --> 00:25:59,039
Trump with the floating the idea of a ten percent

500
00:25:59,119 --> 00:26:03,160
cap on credit card? Interesting? Well, well, what I would.

501
00:26:02,920 --> 00:26:04,920
Speaker 5: Say is I would say, let's let's handle it in

502
00:26:04,920 --> 00:26:08,599
a much more mathematical fashion, meaning I'm all for the

503
00:26:09,440 --> 00:26:13,400
concept of the deal or the concept in generally speaking,

504
00:26:13,799 --> 00:26:17,160
but at the one point, like the bottom line is this,

505
00:26:18,359 --> 00:26:21,640
the lower you push that ceiling, the less consumer credit

506
00:26:21,720 --> 00:26:25,720
will be available. Right now to a certain degree, that's good, right,

507
00:26:25,799 --> 00:26:29,599
because you don't want, I mean, you don't want a

508
00:26:29,640 --> 00:26:33,640
system where the average working guy can get a twenty

509
00:26:33,680 --> 00:26:35,160
five percent payday loan.

510
00:26:35,200 --> 00:26:38,359
Speaker 4: And that's twenty five percent per month, right in.

511
00:26:38,319 --> 00:26:40,319
Speaker 5: A lot of a lot of these cases, you're looking

512
00:26:40,359 --> 00:26:42,440
at an Yeah, you're looking at an annual rate and

513
00:26:42,480 --> 00:26:43,920
access to two hundred and fifty percent.

514
00:26:44,359 --> 00:26:47,200
Speaker 1: Okay, So like that's absurd.

515
00:26:47,319 --> 00:26:52,640
Speaker 5: And the fact but and you got to ask yourself.

516
00:26:52,880 --> 00:26:55,480
You know, it's where free markets, that whole free market

517
00:26:55,480 --> 00:26:58,759
thing comes into play, right where you're going Our payday

518
00:26:58,839 --> 00:27:03,400
loans a good thing, maybe in some capacity, but you

519
00:27:03,480 --> 00:27:05,640
do need to limit that because that's it's a debt

520
00:27:05,680 --> 00:27:08,519
spiral trap. Right like you start, you just can't get

521
00:27:08,519 --> 00:27:10,400
out from underneath it. And that's why those payday loan

522
00:27:10,440 --> 00:27:14,680
people make so much money. So you want to have

523
00:27:14,720 --> 00:27:16,759
access to credit. But like I said, the beautiful thing

524
00:27:16,799 --> 00:27:19,240
about this is if you looked up with several different

525
00:27:19,240 --> 00:27:23,119
consumer credit agencies and companies that do this, okay, and

526
00:27:23,640 --> 00:27:26,039
you put them together in a room and you did

527
00:27:26,079 --> 00:27:29,839
some basic math, maximization type equations things like that, you

528
00:27:29,880 --> 00:27:33,160
could figure out where that my feeling is it's probably

529
00:27:33,240 --> 00:27:36,519
somewhere in the fourteen to sixteen percent range just looking

530
00:27:36,559 --> 00:27:38,920
at hard money rates and things like that, because you

531
00:27:38,920 --> 00:27:40,960
don't want to choke that stuff out of the system.

532
00:27:41,039 --> 00:27:42,759
Right If a guy wants to take a short term,

533
00:27:43,079 --> 00:27:46,599
high risk hard money loan for sixty or ninety days

534
00:27:47,039 --> 00:27:50,680
at an annual percentage rate of you know, twenty five percent,

535
00:27:51,240 --> 00:27:52,799
then you know he should be able to do that.

536
00:27:53,279 --> 00:27:56,359
But at the same time, you don't want people getting

537
00:27:56,400 --> 00:27:58,519
trapped in these payday loans and things like that. So

538
00:27:58,599 --> 00:28:00,920
my thing is, I'm all for the concept. Just do

539
00:28:01,000 --> 00:28:04,279
it mathematically. Let's figure out where that optimization number lies.

540
00:28:04,680 --> 00:28:08,359
And you know, and this isn't new, right, We used

541
00:28:08,400 --> 00:28:10,559
to have usury laws on the books. They just they

542
00:28:10,640 --> 00:28:13,079
either got rid of them or move the number up

543
00:28:13,119 --> 00:28:15,200
so high that it doesn't matter. As a matter of fact.

544
00:28:15,240 --> 00:28:16,720
I think you can do that now. I think it's

545
00:28:16,960 --> 00:28:18,839
it isn't the limit at twenty nine to nine or something?

546
00:28:18,880 --> 00:28:19,279
Speaker 1: Think of that?

547
00:28:19,440 --> 00:28:19,599
Speaker 3: Right?

548
00:28:19,599 --> 00:28:21,759
Speaker 1: There is that that And then the thing I would

549
00:28:21,759 --> 00:28:24,400
say is I'm big into truth and labeling. Okay, you

550
00:28:24,400 --> 00:28:26,519
want to go take that loan, Okay, then then have

551
00:28:26,880 --> 00:28:30,000
the loan provider because the Bible warrants is against usury.

552
00:28:30,039 --> 00:28:32,440
Speaker 2: By the way, just just so everyone remembers.

553
00:28:32,240 --> 00:28:35,039
Speaker 1: Don't do that to people. Where to Jubilee, you forgave

554
00:28:35,079 --> 00:28:37,559
debts every seven years. You know, when we lived godly lives.

555
00:28:37,599 --> 00:28:40,200
That was all very real. So if you're going to

556
00:28:40,240 --> 00:28:44,000
put those loans out, all I'm saying is in a paragraph,

557
00:28:44,839 --> 00:28:47,279
you describe how much you're going to pay. All right,

558
00:28:47,400 --> 00:28:49,920
So working guy, you come in, you're going to take

559
00:28:49,960 --> 00:28:53,000
this twenty five percent per month loan. If you take

560
00:28:53,039 --> 00:28:55,559
a year to pay us back your twenty five hundred

561
00:28:55,559 --> 00:28:59,839
dollars loan is going to cost you twenty five thousand dollars.

562
00:29:01,119 --> 00:29:03,400
And to publish it, you have to publish it and

563
00:29:03,440 --> 00:29:06,720
the person has to sign I understand that I'm not

564
00:29:06,920 --> 00:29:11,720
borrowing twenty five hundred bucks. I'm potentially paying you twenty

565
00:29:11,799 --> 00:29:16,160
five thousand dollars to let me use twenty five hundred

566
00:29:16,839 --> 00:29:20,160
I'm going twenty five thousand in debt when I signed

567
00:29:20,200 --> 00:29:23,440
this piece of paper, right, yeah, yep yeah.

568
00:29:23,880 --> 00:29:26,039
Speaker 5: The other thing you have to do on the flip

569
00:29:26,079 --> 00:29:28,240
side of it, too, is and this is trickier. In

570
00:29:28,279 --> 00:29:32,480
my opinion, you have to reinstitute both in our markets,

571
00:29:32,839 --> 00:29:36,920
financial markets, and both in financial in this topic too.

572
00:29:37,240 --> 00:29:39,799
There has to be an element of caveat M tour

573
00:29:39,920 --> 00:29:45,720
buyer beware right, like meaning you cannot regulate out stupidity.

574
00:29:46,480 --> 00:29:46,640
Speaker 4: Right.

575
00:29:46,680 --> 00:29:49,000
Speaker 5: If people are going to do stupid things with money,

576
00:29:49,400 --> 00:29:52,279
trust me as a guy that manages other people's money.

577
00:29:52,680 --> 00:29:55,720
Speaker 4: You can have the conversation with them. You can warn them.

578
00:29:55,720 --> 00:29:57,319
Speaker 5: I don't know if I've ever told you the story,

579
00:29:57,599 --> 00:30:00,359
but I had a client, super nice guy. He came

580
00:30:00,400 --> 00:30:03,559
in with about one point nine million for retirement. Okay,

581
00:30:03,720 --> 00:30:07,640
he he had just retired. We set up a retirement plan.

582
00:30:08,039 --> 00:30:11,480
I told him what he shouldn't do, what he should do,

583
00:30:11,640 --> 00:30:13,960
and I warned him all the reasons why he shouldn't.

584
00:30:14,240 --> 00:30:16,480
Classic example of this was he thought he should go

585
00:30:16,480 --> 00:30:19,880
buy a bunch of physical golds, and I told him, look,

586
00:30:19,920 --> 00:30:22,640
you can buy this much, but don't exceed this amount,

587
00:30:22,880 --> 00:30:24,759
and if you buy it, buy it this way.

588
00:30:25,160 --> 00:30:26,200
Speaker 4: He didn't listen to me.

589
00:30:26,559 --> 00:30:30,359
Speaker 5: Long story short, Within ten months of retiring, his one

590
00:30:30,480 --> 00:30:33,039
point nine million was down to about eight hundred and

591
00:30:33,119 --> 00:30:36,799
twenty thousand. And on top of that, he's still owned.

592
00:30:36,960 --> 00:30:39,759
He still owed about four hundred thousand dollars in taxes

593
00:30:40,079 --> 00:30:43,599
because he didn't, so his retirement nest egg was gone.

594
00:30:43,880 --> 00:30:47,759
He bought collector coins for his gold instead of real ones,

595
00:30:48,160 --> 00:30:49,400
so when he went when he.

596
00:30:49,359 --> 00:30:51,640
Speaker 4: Went to go sell it back, he was twenty five

597
00:30:51,680 --> 00:30:53,519
percent in the hole on his gold holdings.

598
00:30:53,920 --> 00:30:57,480
Speaker 5: My point is I literally walked through him step by

599
00:30:57,519 --> 00:31:01,799
step and said do this, don't do this. Here's how

600
00:31:01,799 --> 00:31:04,240
we're going to do it. He decided he wanted to

601
00:31:04,240 --> 00:31:06,759
be the captain of his own ship. Calls me ten

602
00:31:06,799 --> 00:31:09,720
months later when the plane's already into the side of

603
00:31:09,759 --> 00:31:11,160
the mountain and wants my help. And I look at

604
00:31:11,240 --> 00:31:13,160
him and I go, look, I'm not trying to be vindictive.

605
00:31:13,440 --> 00:31:15,599
I'm not trying to prove a point, but I go,

606
00:31:16,000 --> 00:31:19,680
here's the only options you have, and bringing your money

607
00:31:19,720 --> 00:31:21,000
to me at this point isn't going.

608
00:31:20,960 --> 00:31:21,359
Speaker 4: To help you.

609
00:31:21,680 --> 00:31:22,759
Speaker 1: Oh you know, just God.

610
00:31:23,599 --> 00:31:26,400
Speaker 5: So you have to have that element of coveyat m tour,

611
00:31:26,519 --> 00:31:28,880
meaning people have to know. And I think you have

612
00:31:28,960 --> 00:31:33,440
to be careful with regulations because I think an overregulated

613
00:31:34,000 --> 00:31:36,880
economy gives people a false sense.

614
00:31:36,680 --> 00:31:40,960
Speaker 1: Of security exactly, and you can't label things clearly enough

615
00:31:41,319 --> 00:31:45,119
for people and even and I know this goes back

616
00:31:45,119 --> 00:31:47,880
a little bit to the healthcare thing. And this is

617
00:31:47,960 --> 00:31:52,240
me being probably I don't know, obsessive about this, but

618
00:31:53,400 --> 00:31:56,119
when I watch people buy and this happened to me

619
00:31:56,359 --> 00:31:58,400
in a grocery store here called you Super Good grocery

620
00:31:58,400 --> 00:32:01,400
store in North that Hill and I'm shopping and there

621
00:32:01,480 --> 00:32:04,640
is a lady shopping and I'm buying stuff and she's

622
00:32:04,640 --> 00:32:06,599
buying stuff and she looks over at me. She goes,

623
00:32:06,640 --> 00:32:10,119
do you do lift weights and go to gyms? I

624
00:32:10,119 --> 00:32:14,839
go yeah, she goes, So my my my son's trying

625
00:32:14,880 --> 00:32:16,480
to do that, and I'm trying to buy a lot

626
00:32:16,480 --> 00:32:19,279
of good protein for him. And what's a good source

627
00:32:19,279 --> 00:32:28,640
of protein? Like bread? And I said, well, bread has

628
00:32:28,640 --> 00:32:31,920
a little protein in it, but no meat. Oh well,

629
00:32:31,920 --> 00:32:35,559
he won't eat meat. Okay, so he's vegetarian. No, he

630
00:32:35,640 --> 00:32:43,680
just doesn't like to eat tastes. Okay, But what does

631
00:32:43,720 --> 00:32:48,720
he like for protein? Peanut butter? Okay, but that's a fat.

632
00:32:48,799 --> 00:32:51,000
And I'm sitting here I realized I've jumped into like

633
00:32:51,559 --> 00:32:57,039
a black hole. Okay, that's those that's a fat. Oh yeah,

634
00:32:57,079 --> 00:32:59,480
I know there's fat in it, but there's protein too. No,

635
00:33:01,359 --> 00:33:05,279
well milk, No, So milk is not a protein. It's

636
00:33:05,279 --> 00:33:09,880
a carbohydrate depending on how much and percentage. But just

637
00:33:09,920 --> 00:33:11,359
that he doesn't like to taste. Yeah, he just won't

638
00:33:11,359 --> 00:33:14,759
eat it. He really likes bread, and he likes cereal,

639
00:33:15,519 --> 00:33:20,920
and he likes milk and Peter butter and Frod sit

640
00:33:21,079 --> 00:33:24,160
there with this lady and I'm trying to be kind

641
00:33:24,240 --> 00:33:25,960
and finally just said, oh gosh, you know, I'm sorry,

642
00:33:25,960 --> 00:33:28,000
I have to go and I was talking to you,

643
00:33:28,039 --> 00:33:30,559
and good luck with that. So I go buy my stuff.

644
00:33:30,559 --> 00:33:33,640
She buys her stuff and Zach, I'm watching her leave

645
00:33:34,480 --> 00:33:36,359
and I'm like, oh my gosh, she's going home with

646
00:33:36,400 --> 00:33:39,640
a cart full of type two diabetes because her kid

647
00:33:39,720 --> 00:33:41,319
doesn't like me. So yeah, I know, we got these

648
00:33:41,359 --> 00:33:43,799
clear labeling. We got to get to this AI company.

649
00:33:43,880 --> 00:33:46,119
This is nuts. We'll talk about this with Zach Abraham,

650
00:33:46,200 --> 00:33:49,559
Chief Investment offs for Bowler Capital Management. When we're talking

651
00:33:49,599 --> 00:33:52,039
about things like health, I get it. I get it,

652
00:33:52,119 --> 00:33:54,440
I get it. I'm a little bit obsessive. I go

653
00:33:54,519 --> 00:33:56,119
to the gym a lot. I like being able to

654
00:33:56,160 --> 00:33:58,440
do things that are fun physically for me, and for

655
00:33:58,519 --> 00:34:01,440
me that means things that are root holy difficult. That's

656
00:34:01,519 --> 00:34:04,279
what I like. You may not be that person, but look,

657
00:34:04,319 --> 00:34:06,119
you do not want to live in a healthy life.

658
00:34:06,440 --> 00:34:09,360
My friends Wade and Matt at Bioptimizers, they have made

659
00:34:09,400 --> 00:34:13,880
a career out of optimizing people's health. They started working

660
00:34:13,880 --> 00:34:17,360
with elite athletes because that's what they were, and then

661
00:34:17,400 --> 00:34:19,440
as they worked with elite athletes and they began to

662
00:34:19,480 --> 00:34:21,639
live life in the real world as they're retired, they

663
00:34:21,639 --> 00:34:25,119
looked around and said, man, man, a lot of people

664
00:34:25,400 --> 00:34:29,639
are really messed up metabolically and imminologically. Let's expand our

665
00:34:29,679 --> 00:34:35,599
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666
00:34:35,639 --> 00:34:38,440
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667
00:34:38,480 --> 00:34:41,679
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668
00:34:42,159 --> 00:34:47,400
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669
00:34:47,440 --> 00:34:50,039
Speaker 2: Product two is called mass zymes.

670
00:34:50,440 --> 00:34:52,679
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671
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672
00:34:56,440 --> 00:35:01,800
body one percent more amino acid. They are the building

673
00:35:01,840 --> 00:35:04,199
block of proteins, which in turn of the building block

674
00:35:04,239 --> 00:35:07,360
of muscle, which is the core of health. Is a

675
00:35:07,400 --> 00:35:10,960
good body composition with good amounts of muscle. Last thing

676
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is this P three O M. It's a prebiotic. And

677
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most people do not have good levels of probotics in

678
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679
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680
00:35:25,559 --> 00:35:28,360
that you get more nutrition out of every byte this

681
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682
00:35:32,280 --> 00:35:35,760
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683
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684
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685
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686
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687
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five percent you qualify for the one hundred dollars in free gifts.

688
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689
00:35:56,559 --> 00:35:59,679
sure you use code tod. For Black Friday, they boptimizers

690
00:35:59,679 --> 00:36:03,480
dot com Tod used code Todd. Zach, you were telling

691
00:36:03,559 --> 00:36:05,480
me a story. It was story time as we were

692
00:36:05,480 --> 00:36:08,159
getting ready to do the show and tell the people,

693
00:36:08,280 --> 00:36:11,320
Zach about a beautiful company the lot of people say,

694
00:36:11,360 --> 00:36:13,440
is the best company in the world created by AI.

695
00:36:15,760 --> 00:36:20,840
Speaker 5: Yeah, so it's not really a company, but it's I

696
00:36:20,920 --> 00:36:23,039
was I was reading through you know, the stuff that

697
00:36:23,079 --> 00:36:24,840
I go through, and I caught onto this deal where

698
00:36:25,239 --> 00:36:30,000
apparently at some point a group of developers decided to

699
00:36:30,079 --> 00:36:34,360
take their AI. So what we call llms or large

700
00:36:34,639 --> 00:36:37,400
language models. Right when anybody's saying about a new AI,

701
00:36:38,159 --> 00:36:42,559
Chad GPT, all of these are LM's large language models, Okay,

702
00:36:43,119 --> 00:36:49,039
which really isn't AI. It's not thinking, it's learning through. Basically,

703
00:36:49,119 --> 00:36:51,960
you give these things access to the entire Internet. They're

704
00:36:52,000 --> 00:36:54,639
reading things constantly and absorbing data and all that kind

705
00:36:54,639 --> 00:36:58,800
of stuff. So they put these lms large language models,

706
00:36:58,800 --> 00:37:01,079
several of them in a chat room together and just

707
00:37:01,159 --> 00:37:02,440
left them there and do.

708
00:37:02,440 --> 00:37:07,880
Speaker 4: Their own thing. Well, eventually, these large language models decided

709
00:37:07,920 --> 00:37:12,159
to hatch the idea of creating a new cryptocurrency.

710
00:37:12,000 --> 00:37:16,320
Speaker 5: Launching it on a crypto exchange, and talking about it

711
00:37:16,400 --> 00:37:19,760
on the Twitter site that they opened up. This is

712
00:37:19,800 --> 00:37:22,159
no joke. This sounds like this sounds like crazy talk.

713
00:37:22,599 --> 00:37:27,599
This is legitimate, okay. And they launched their own cryptocurrency.

714
00:37:27,760 --> 00:37:29,920
Speaker 1: They being called the Machines.

715
00:37:30,719 --> 00:37:35,679
Speaker 5: Yes, and it's called goat CS so gat like a

716
00:37:35,760 --> 00:37:41,440
goat c us s e us. Goat CS maxims is

717
00:37:41,480 --> 00:37:44,400
the name of their coin. And that coin, as of today,

718
00:37:44,760 --> 00:37:48,679
has a market capitalization price of a billion dollars and

719
00:37:48,719 --> 00:37:52,480
it was launched in less like a month ago, right,

720
00:37:54,039 --> 00:37:57,840
it is trading actively, and they've even got their own

721
00:37:57,880 --> 00:38:01,280
Twitter site, which well, let me hold on.

722
00:38:01,480 --> 00:38:03,800
Speaker 4: Well you know what, Shoot, I've got the name of

723
00:38:03,800 --> 00:38:05,280
the Twitter site. I'm forgetting it.

724
00:38:05,320 --> 00:38:07,719
Speaker 5: But you can actually get on there and read the

725
00:38:07,760 --> 00:38:10,840
tweets that this large language model is posting.

726
00:38:10,960 --> 00:38:12,599
Speaker 1: We'll put it in the show notes. We'll put it

727
00:38:12,599 --> 00:38:14,280
in the show with your help, you'll say that, just

728
00:38:14,320 --> 00:38:15,159
we'll put it in the show notes.

729
00:38:15,559 --> 00:38:19,320
Speaker 5: Yeah, got see Us Maximus, and it was one of

730
00:38:19,360 --> 00:38:21,039
those deals where I'm reading through it and I'm like,

731
00:38:21,960 --> 00:38:26,079
I don't know whether to be intrigued, terrified, to laugh,

732
00:38:26,760 --> 00:38:28,519
to cry to hide.

733
00:38:28,719 --> 00:38:32,480
Speaker 4: I like, just what an odd time we're living in.

734
00:38:32,840 --> 00:38:39,239
Speaker 5: But also if you want to talk about and look,

735
00:38:39,440 --> 00:38:42,480
I don't say this meaning that I think everything is

736
00:38:42,480 --> 00:38:45,239
going to plummet and collapse tomorrow, but I do think

737
00:38:45,360 --> 00:38:49,119
that we are, like Saturday, we are living in the

738
00:38:49,119 --> 00:38:52,280
biggest speculative bubble of all time. I mean you you

739
00:38:52,360 --> 00:38:55,800
have people buying things that they know are worth nothing,

740
00:38:56,079 --> 00:39:00,000
that serve no real purpose, that have a billion dollars right.

741
00:39:00,400 --> 00:39:03,119
Speaker 4: Doge Coin at one point got up to fifty billion.

742
00:39:03,559 --> 00:39:07,239
Speaker 5: Doge Coin went on a fifteen or twenty percent ripper

743
00:39:07,960 --> 00:39:12,400
because Trump put out the announcement of Department of Government Efficiency.

744
00:39:12,480 --> 00:39:14,119
Speaker 4: Doge like it.

745
00:39:14,519 --> 00:39:18,440
Speaker 5: I have never seen so much speculative bubble like behavior

746
00:39:18,840 --> 00:39:19,880
in my entire life.

747
00:39:19,880 --> 00:39:21,960
Speaker 4: And it's not new. It's been going on for a while.

748
00:39:22,440 --> 00:39:27,360
Speaker 5: And I just I will tell you I don't like

749
00:39:27,400 --> 00:39:28,760
I said, I don't think it's over.

750
00:39:29,360 --> 00:39:30,920
Speaker 4: I don't think we're there quite yet.

751
00:39:31,159 --> 00:39:34,079
Speaker 5: But rest assured this will be looked at as one

752
00:39:34,159 --> 00:39:37,480
of the biggest bubbles in human history.

753
00:39:37,960 --> 00:39:43,719
Speaker 4: And I think especially especially in the crypto world.

754
00:39:43,840 --> 00:39:46,480
Speaker 5: Right, Like, I'm not saying that everything is overvalued, It's not,

755
00:39:47,000 --> 00:39:49,480
but especially in the crypto world, especially as it relates

756
00:39:49,480 --> 00:39:53,679
to AI, there is just so much hype and so

757
00:39:53,800 --> 00:39:54,639
much nonsense.

758
00:39:56,400 --> 00:39:58,320
Speaker 4: This stuff's got a cave in on itself at some point.

759
00:39:58,360 --> 00:40:02,239
Speaker 5: I mean, you know, creating fake currencies out of thin

760
00:40:02,280 --> 00:40:04,559
air that are trading at a billion dollar valuation.

761
00:40:04,599 --> 00:40:05,960
Speaker 4: I mean, you can't make this stuff up.

762
00:40:07,039 --> 00:40:09,920
Speaker 1: I am haunted by something we did in high school.

763
00:40:10,280 --> 00:40:12,360
When you're talking about this, and I'll tell you about

764
00:40:12,360 --> 00:40:14,719
this in a second, because you want to talk about

765
00:40:15,039 --> 00:40:18,079
how insane. This is two boys in high school who

766
00:40:18,119 --> 00:40:20,960
decided to wear some trench coats and no, no, not

767
00:40:21,000 --> 00:40:25,440
school shooting things. It was nineteen eighty five when we

768
00:40:25,519 --> 00:40:27,480
did this. And actually, as I think back about it,

769
00:40:27,480 --> 00:40:29,320
I went to an insane school where there actually wore

770
00:40:29,360 --> 00:40:31,480
a bunch of shootings. So but they didn't wear trench coats.

771
00:40:31,880 --> 00:40:33,760
So it'say about this in a second. With Zach Abraham

772
00:40:34,360 --> 00:40:37,039
for Thanksgiving, I talked about soap. Let me talk about wine.

773
00:40:38,079 --> 00:40:41,039
It's bone frog sellers, you know, Tim Krookshank he's a

774
00:40:41,039 --> 00:40:42,960
retired Navy CEO. He's been in our program a bunch

775
00:40:43,000 --> 00:40:45,840
of times, he said, dear, dear friends. He didn't know

776
00:40:45,880 --> 00:40:48,800
the wine business. He knew the business of breaking people

777
00:40:48,920 --> 00:40:52,159
and well, killing people and breaking things when he was

778
00:40:52,199 --> 00:40:54,079
sold to do that by his government. He was also

779
00:40:54,119 --> 00:40:57,360
a medic attached to the seal teams in three deployments,

780
00:40:57,360 --> 00:41:01,400
so he knew the business of field surgery and helping

781
00:41:01,440 --> 00:41:05,000
people live, which is a pretty big deal. When he

782
00:41:05,039 --> 00:41:09,119
came home, he wanted something that would honor fallen seal

783
00:41:09,239 --> 00:41:12,440
so he started bone Frog first Coffee, which has done really,

784
00:41:12,480 --> 00:41:14,840
really well. And for Thanksgiving, you should have nothing else

785
00:41:14,840 --> 00:41:18,079
set your home but bone Frog Coffee. Bone Frog sellers

786
00:41:18,119 --> 00:41:20,079
you probably know less about because we have been talking

787
00:41:20,079 --> 00:41:22,960
about it until recently. Tim did the same thing. He

788
00:41:23,079 --> 00:41:26,519
sought out a family who'd been making wine for a

789
00:41:26,599 --> 00:41:28,920
long time and said, I want to get into the

790
00:41:28,960 --> 00:41:31,719
wine business. Teach it to me. So he hung out

791
00:41:31,719 --> 00:41:34,000
with them. They talked to them about him, about how

792
00:41:34,039 --> 00:41:36,719
great wines are made and age and the process, and

793
00:41:36,760 --> 00:41:39,320
how do you create a wine with personality? So what

794
00:41:39,320 --> 00:41:42,840
would a bone Frog wine be? So there are two wines.

795
00:41:42,880 --> 00:41:46,679
There is a Cabernet, and there's a mar Low and

796
00:41:47,119 --> 00:41:50,480
he has gone through now twenty fifteen vintage. We had

797
00:41:50,480 --> 00:41:52,840
at our house and when he approached me to talk

798
00:41:52,880 --> 00:41:55,239
about the wines, I said, dude, you're my dear friend.

799
00:41:55,360 --> 00:41:57,800
I love you and we've done business together. I'll talk

800
00:41:57,840 --> 00:42:01,360
about it, but I don't drink it. I don't like wine.

801
00:42:01,480 --> 00:42:05,079
I've had like three SIPs of beer in the past

802
00:42:05,320 --> 00:42:06,360
twenty years.

803
00:42:07,480 --> 00:42:10,480
Speaker 2: But my friends love it. So here's the range.

804
00:42:10,559 --> 00:42:12,639
Speaker 1: My daughter is brand new to wine because she's not

805
00:42:12,679 --> 00:42:13,960
even legally supposed to drink it.

806
00:42:14,079 --> 00:42:16,599
Speaker 2: She's just on the edge of that. She loved it,

807
00:42:16,599 --> 00:42:17,400
said it was yummy.

808
00:42:17,480 --> 00:42:19,760
Speaker 1: I've got on video. I can prove it all the

809
00:42:19,800 --> 00:42:23,079
way up to my friends Tom and Sherry, who love

810
00:42:23,360 --> 00:42:26,199
wine and travel and they drink it, and Tom knows

811
00:42:26,239 --> 00:42:28,199
about it. They knows about the legs and the glass

812
00:42:28,239 --> 00:42:32,239
and this sort of aging in this sort of barrel,

813
00:42:32,320 --> 00:42:34,199
et cetera. And in the middle of that's my wife,

814
00:42:34,199 --> 00:42:37,400
Whoucajun drinks wine. All of them loved it for different reasons.

815
00:42:37,519 --> 00:42:40,119
Tom because he's an aficionado, my daughter because it was yummy,

816
00:42:40,119 --> 00:42:41,519
and my wife because she enjoys the glass of wine

817
00:42:41,559 --> 00:42:44,400
from time to time. So go to bonefrogsellars dot com.

818
00:42:44,760 --> 00:42:47,199
You get ten percent off there. Of course it says

819
00:42:47,239 --> 00:42:49,440
God Country Team on it. That's who Tim is. Of course,

820
00:42:49,480 --> 00:42:51,519
the bone Frog is on the wine. That is the

821
00:42:51,519 --> 00:42:54,719
insignia of a fallen Navy seal. It's Bonefrogsellars dot com

822
00:42:54,760 --> 00:42:59,039
slash Todd so Zach. Back in the day, my friend

823
00:42:59,119 --> 00:43:01,639
and brother Matthew, whose dad was the guy who knocked

824
00:43:01,679 --> 00:43:03,920
his older brother out and talked about that's off the show.

825
00:43:05,239 --> 00:43:08,519
He and I decided to create fake value, and so

826
00:43:08,559 --> 00:43:14,800
we went on this sociological experiment where during during changes

827
00:43:14,840 --> 00:43:18,159
through class, we would hand an envelope to each other

828
00:43:20,039 --> 00:43:23,880
kind of surreptitiously but making sure other people saw. And

829
00:43:23,920 --> 00:43:27,880
we all had forced locker partners. So I would put

830
00:43:27,920 --> 00:43:29,679
that envelope in my locker and I talked to my

831
00:43:29,719 --> 00:43:33,840
locker the locker partner, don't touch that, like you do

832
00:43:33,960 --> 00:43:36,679
not touch that thing, period. And it started to create

833
00:43:36,679 --> 00:43:40,039
all this false value, and people were curious about it,

834
00:43:40,079 --> 00:43:42,000
and they'd notice the handoff of what are you guys doing, Oh,

835
00:43:42,039 --> 00:43:45,760
you don't want to know, it's really something you don't

836
00:43:45,760 --> 00:43:46,960
want to be involved in. No, I want to know.

837
00:43:49,360 --> 00:43:51,440
We got a really good thing going here, and it's

838
00:43:51,440 --> 00:43:56,360
making a lot of money, and I want in. Oh look,

839
00:43:56,440 --> 00:43:58,000
I mean I don't think this is the thing you

840
00:43:58,000 --> 00:43:59,559
want to get into. No, No, I mean how much money?

841
00:43:59,599 --> 00:44:03,639
Is it making? A lot? A lot? Well, I mean

842
00:44:03,679 --> 00:44:05,400
I'd like a twenty bucks. Oh, it wouldn't get you

843
00:44:05,440 --> 00:44:09,519
anywhere near our deals. Okay, I can give you fifty.

844
00:44:10,280 --> 00:44:11,559
What could I expect to get out of it? A

845
00:44:11,599 --> 00:44:15,239
lot people started hind us money.

846
00:44:15,400 --> 00:44:15,880
Speaker 4: How much?

847
00:44:16,440 --> 00:44:19,000
Speaker 1: Well, I'm ashamed to say that we took in probably

848
00:44:19,000 --> 00:44:23,880
about two thousand dollars before we wrapped up the sociological experiment.

849
00:44:24,599 --> 00:44:27,519
So we take the fifty someone gave us, and we

850
00:44:27,639 --> 00:44:29,480
turn around to the person who gave us ten and

851
00:44:29,519 --> 00:44:32,400
got things are good. Things are good.

852
00:44:32,400 --> 00:44:32,599
Speaker 4: Man.

853
00:44:32,599 --> 00:44:34,760
Speaker 1: Here you go, Wow, I gave you ten bucks, you're

854
00:44:34,760 --> 00:44:37,000
giving me fifty back like a week later. We didn't

855
00:44:37,000 --> 00:44:40,199
know what pyramid scheme meant. We didn't know what it was.

856
00:44:40,519 --> 00:44:43,199
We just thought so then we'd have people coming to us. Look,

857
00:44:43,199 --> 00:44:45,559
I got five hundred bucks man. Oh look, no, no,

858
00:44:45,719 --> 00:44:50,480
it's it's just that's too much risk, you know, I mean, right, right,

859
00:44:50,559 --> 00:44:52,440
just but but that's going to hurt you for this

860
00:44:52,559 --> 00:44:56,000
sooner box. And so eventually we came around and just

861
00:44:56,360 --> 00:44:58,400
confessed to what we were doing. And it was this

862
00:44:58,480 --> 00:45:02,360
great sociological experiment, right, And so some people lost money

863
00:45:02,480 --> 00:45:05,039
and frankly we didn't keep any We just played the game.

864
00:45:05,840 --> 00:45:10,079
But it showed us that all we did was create

865
00:45:10,119 --> 00:45:14,400
this false value. Tell me how what we did is

866
00:45:14,559 --> 00:45:22,320
different from this not AI, but large language model invented crypto.

867
00:45:23,480 --> 00:45:28,119
Speaker 5: Well, look what's funny is and here's the tough part

868
00:45:28,119 --> 00:45:30,400
about this, And this is a classic example.

869
00:45:30,039 --> 00:45:31,559
Speaker 4: Of kind of one of the dangers of AI.

870
00:45:32,719 --> 00:45:35,400
Speaker 5: When I was sitting there looking at it, there was

871
00:45:35,440 --> 00:45:37,400
a thought that crossed my mind where I sat there

872
00:45:37,440 --> 00:45:39,519
and I went, wait a second, Wait a second, are

873
00:45:39,519 --> 00:45:43,440
you telling me that this is a cryptocurrency created by

874
00:45:43,480 --> 00:45:47,639
a large language model. So basically you are bisecting the

875
00:45:47,679 --> 00:45:51,760
most bubbleish, crazy parts of our market, crypto and AI,

876
00:45:52,840 --> 00:45:55,559
and it's got a billion dollar market cap. And I

877
00:45:55,639 --> 00:45:57,760
kind of thought to myself, I was like, you know what,

878
00:45:57,800 --> 00:46:01,840
there's a decent possibility that this his own nonsense, right,

879
00:46:02,039 --> 00:46:05,239
They're a decent possibility that this crypto was created by

880
00:46:05,239 --> 00:46:06,039
a couple of guys.

881
00:46:06,440 --> 00:46:08,239
Speaker 4: This is the story that they cooked up.

882
00:46:08,559 --> 00:46:09,239
Speaker 1: They're the ones.

883
00:46:09,519 --> 00:46:12,480
Speaker 5: And my point in saying that is because it is

884
00:46:12,599 --> 00:46:15,079
exactly like what you were saying. And the guys that

885
00:46:15,159 --> 00:46:18,079
invented doge coin are proof of that, right, they came

886
00:46:18,119 --> 00:46:20,360
out and have admitted, yes, it was a complete joke.

887
00:46:20,400 --> 00:46:22,400
It was we never thought it would take off like this.

888
00:46:22,880 --> 00:46:26,480
Doage coin got up to a fifty billion dollar valuation, right,

889
00:46:26,960 --> 00:46:29,719
like those guys cast out with billions of dollars even

890
00:46:29,920 --> 00:46:34,000
after they told everybody that, look, this was a joke, right,

891
00:46:34,440 --> 00:46:37,239
but everybody kept trading it. And why because it was

892
00:46:37,280 --> 00:46:40,960
going up? Right, So yeah, it's and and and I

893
00:46:41,000 --> 00:46:44,599
will warn your warn your listeners too. Do not go

894
00:46:44,679 --> 00:46:48,840
buy that coin. Don't go buy any of these coins

895
00:46:49,440 --> 00:46:51,960
unless you really know the space and have studied it

896
00:46:52,000 --> 00:46:52,840
and really.

897
00:46:53,079 --> 00:46:53,840
Speaker 4: Know what you're doing.

898
00:46:53,880 --> 00:46:57,639
Speaker 5: And even then, go with the knowledge that at any moment,

899
00:46:58,079 --> 00:47:01,039
a market like that can go bidless. So you can

900
00:47:01,079 --> 00:47:03,960
go from having three million dollars in your account one minute.

901
00:47:04,280 --> 00:47:06,440
And if you don't think this has happened, you haven't

902
00:47:06,440 --> 00:47:09,480
paid enough attention to the space. And you can literally

903
00:47:09,519 --> 00:47:12,840
see ninety nine percent drops in these things in.

904
00:47:13,960 --> 00:47:15,159
Speaker 4: Less than sixty seconds.

905
00:47:15,719 --> 00:47:20,119
Speaker 5: So and like you said, the issue is and this

906
00:47:20,159 --> 00:47:25,119
is true even with bitcoin, there is no real underlying

907
00:47:25,360 --> 00:47:30,079
value as we define it today, meaning there is how

908
00:47:30,119 --> 00:47:32,719
low can bitcoin go? It can go to zero, why

909
00:47:33,039 --> 00:47:37,000
it doesn't produce cash flow. So I'm not saying it will.

910
00:47:37,440 --> 00:47:39,400
I'm not even saying I think it will or say,

911
00:47:39,480 --> 00:47:42,840
but what I'm saying is by these things will have

912
00:47:43,159 --> 00:47:44,159
massive drops.

913
00:47:44,719 --> 00:47:47,800
Speaker 4: And you know, in a lot of cases you're betting

914
00:47:47,800 --> 00:47:48,280
on vapor.

915
00:47:49,280 --> 00:47:53,880
Speaker 1: People have such a hunger for the easy way. Yeah,

916
00:47:53,960 --> 00:47:57,280
you know, Jesus told us the way is the ways,

917
00:47:57,440 --> 00:48:00,760
the path is narrow, the way is long. That's spiritual.

918
00:48:00,960 --> 00:48:02,480
I think some of this is spiritual as well. They've

919
00:48:02,519 --> 00:48:07,280
got people have holes. They want the easy way. And

920
00:48:07,519 --> 00:48:09,039
I won't make a big deal about this because it's

921
00:48:09,039 --> 00:48:12,039
one of my favorite stories. Meaning I've told fifty billion times.

922
00:48:12,440 --> 00:48:15,519
But the people who run Adbusters, which is a communist

923
00:48:15,559 --> 00:48:20,159
magazine put out by a very dangerous guy in Canada,

924
00:48:21,679 --> 00:48:25,639
and they did come up with some cool ideas, and

925
00:48:26,440 --> 00:48:29,639
one of his cool ideas was in Europe, they invented

926
00:48:29,639 --> 00:48:32,400
a product. His name is Kylie layes On. I forgot

927
00:48:32,440 --> 00:48:34,280
for a second. Kylie Laysan is the guy who started

928
00:48:34,280 --> 00:48:39,760
that brilliant, deeply dangerous man and across Europe. They purchased

929
00:48:39,840 --> 00:48:44,000
these beautiful billboard zach and this was twenty years ago.

930
00:48:44,519 --> 00:48:48,840
White background, beautiful blue font, and they spent some time

931
00:48:48,920 --> 00:48:52,280
designing this font. They put these billboards around. Then they

932
00:48:52,280 --> 00:48:56,400
got street artists and they placed these in hipster areas

933
00:48:56,400 --> 00:49:01,800
of town. They sponsored menus at hipster restaurants where they

934
00:49:01,800 --> 00:49:04,440
would pay for the menu printing for the week and

935
00:49:04,519 --> 00:49:06,360
it would say in it and here was the brand

936
00:49:06,480 --> 00:49:14,000
name Nothing, And all and round Europe, people would go

937
00:49:14,079 --> 00:49:18,519
into fragrance stores, perfume stores. Look are you gonna sell nothing?

938
00:49:20,480 --> 00:49:22,599
But we're trying to get our hands on it. People

939
00:49:22,639 --> 00:49:25,840
decided it was a fragrance, and other people decided it

940
00:49:25,880 --> 00:49:29,719
was lingerie, and they would go into these high lingerine stores.

941
00:49:29,760 --> 00:49:31,800
Hey are you going to be carrying that lingerie called Nothing?

942
00:49:32,320 --> 00:49:36,480
It looks so cool. People were demanding nothing, and what

943
00:49:36,519 --> 00:49:39,360
it turned out to be was an ad for their

944
00:49:39,440 --> 00:49:44,199
buy nothing day, to take a day off from consumerism.

945
00:49:45,000 --> 00:49:49,639
And all these people were conned, and their help was

946
00:49:49,800 --> 00:49:53,039
to show them we created a hunger and a product

947
00:49:53,079 --> 00:49:54,239
that doesn't exist in it.

948
00:49:54,159 --> 00:49:56,599
Speaker 2: Even said nothing.

949
00:49:57,639 --> 00:50:00,000
Speaker 1: Man, if that's not how easy it is to tell

950
00:50:00,000 --> 00:50:04,239
anilate the flesh with the easy then nothing else shows that.

951
00:50:05,000 --> 00:50:06,000
Speaker 4: I was gonna say it.

952
00:50:06,119 --> 00:50:09,599
Speaker 5: There's there's certainly some uh, there's certainly some spiritual and

953
00:50:09,639 --> 00:50:11,559
biblical parallels to that story in there.

954
00:50:11,719 --> 00:50:15,000
Speaker 1: Oh yeah right, yeah, but see the Father of Lies

955
00:50:15,079 --> 00:50:16,320
comes to mind. Absolutely.

956
00:50:16,719 --> 00:50:17,039
Speaker 4: Yeah.

957
00:50:17,320 --> 00:50:19,159
Speaker 1: I was always a pleasure to have you on my brother,

958
00:50:19,239 --> 00:50:21,239
and I like the new background back there. I like

959
00:50:21,280 --> 00:50:23,239
the new voice yell at your kids more often. Man,

960
00:50:23,280 --> 00:50:27,400
it brings it brings a flavor to the show. Say

961
00:50:27,440 --> 00:50:31,400
hi to the Blood family. We appreciate you, Zach and

962
00:50:31,719 --> 00:50:33,440
gotta go with you. This is the Todd Hermer Show.

963
00:50:33,840 --> 00:50:36,920
Please go be well, and be strong, and be kind,

964
00:50:37,519 --> 00:50:40,480
and remember that the one true value, last thing value

965
00:50:40,480 --> 00:50:43,639
comes when we're attached to the vine of Christ. Did

966
00:50:43,679 --> 00:50:46,159
I say go, be well, be strong? I did? I

967
00:50:46,199 --> 00:50:47,519
want I said it again, So assume me