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Speaker 1: Is it multi layer chess from President Trump? Or is

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it chaotic? Zach Abraham joins us on The Todd Herman Show.

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Courtesy of God Almighty.

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Speaker 2: The Todd Herman Show is one disapproved by big pharma

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technocrats in Tyrone, Sabrian Where from the high mountains of

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Free America. Here's the Emerald City EXI Todd Herman.

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Speaker 1: Today is the day the Lord has made in. These

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

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Joining me, my friend and brother, Chief investment Officer Bulwart

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Capital Management at Zach Abraham. Zach, welcome back to the

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Todd Herman Show.

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Speaker 3: Good to be back.

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Speaker 1: Happy New Year, Happy New Year to you, man.

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Speaker 3: It's been a while, I know, man, it feels like

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it's been a fortnite.

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Speaker 1: A coon's age, Coon's age. That's a lie.

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Speaker 3: It's like a line from the Outlawed Josie Whales or

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something like that. That's right.

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Speaker 1: I'm always careful as a white dude saying anything about coons.

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Just I'm yeah, yeah, you know, I'm just because I'm saying.

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Speaker 3: Yeah, I hadn't be thought of that. I hadn't really

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thought of that angle. But you got to be cure.

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You know though. The one thing I will say is

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is the crazy wokeness as it relates to mainstream it

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is significantly better than it was five years ago. Yeah,

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you know what I mean. Remember when you'd get called

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Somebody reminded me this the other day. It wasn't that

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long ago where I remember I said black and people

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are like, that's racist, or it's the color of my

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wife's skin.

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Speaker 1: Like do you remember the brown bag lunch thing? That

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there were brown bag lunch seminars at the city of

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Seattle and that was banned.

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Speaker 3: Well, I mean that's clearly racist, right because.

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Speaker 1: Brown bags and all that. And I know, and it

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has gotten better. And I think part of this is

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that credit cards expired. And I think the other thing is, man,

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there are so many serious things that people are dealing with,

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and I think that people have started to get kind

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of a handle on Maybe words aren't our problem, maybe

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some other things are problem. And I wanted to ask

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you because I've heard the reporting around this in every

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significant way. I don't think I've ever heard a more

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interesting argument then one thing. We didn't talk about this beforehand.

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I need you to explain this to me. President Trump

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has a plan to take two hundred billion bucks and

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purchase housing bonds and therefore lower housing prices. And I'm

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not getting the mental gymnastics on this one. I truly,

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I'm not doing this for the show's sake. Because I

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hear someone saying I'm going to purchase all the housing

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bonds with government money, injecting money into the housing market

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or the aftershoot of the market the bonds does that, then,

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how does that then say I will sell my house

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for less money or house buyers yourself for less money,

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or the market will go down. There has to be

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an argument for this. I'm at a loss.

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Speaker 3: There isn't one.

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Speaker 1: There isn't no no.

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Speaker 3: And again, I hope, I hope your listeners know this

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by now. I think it's one of the reasons that

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you and I get along really well, one of many.

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But I'm a fan of President Trump. I voted for

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him twice. But when he says something that I don't

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agree with, I'm gonna tell you that will do nothing

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to home prices. If anything, it could maybe have a

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slightly upward push on home prices. And here's why. Because

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banks have a certain amount of assets and a certain

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amount of cash, they got to deploy right, So if

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you buy, and that's the whole point of quantitative easing,

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if we go, what he's advocating for is a form

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of quantitative easing that's focused strictly on what we call mbs,

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or mortgage backed securities. Yeah, and the FED bought a

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bunch of these. The reason you buy them is because

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you replace that asset on a bank's balance sheet with cash.

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And what does that bank need to do. They need

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to redeploy it. Okay, so they might get a little

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more aggressive on rates, right, they might give somebody a

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little but if that brings rates down a little bit,

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that's going to push home prices up.

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Speaker 1: Right, it could be more aggressive, meaning, okay, we've got

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some cash. President Trump injected, took money from the taxpayers

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force us to purchase housing bonds even though we didn't

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want to. Necessarily, they can say, okay, so maybe instead

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of some of this and have great credit, maybe instead

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of seven and three quarters, we'll give you seven and

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a half. Yeah, and that's being aggressive.

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Speaker 3: Yeah, And I don't look, I don't think it's a

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horrible idea. I mean, you know, it's so funny to

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me that people are up in arms. Oh, he can't.

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You're like the FED. The FED splashes the pot for

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three times that all the time. And they're like, well,

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it's not the same, and I'm like, yes, it is

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the same thing. If I pull cash out of my

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right pocket, it isn't different when I pull it out

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of my left right Okay, like so whatever I mean

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it and cash was fungible, right, So in fact, it

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is the same, I honestly think, and this isn't a knock, right,

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President Trump plays a political game. I think this along

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with what he said about corporations buying homes, I don't

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think doing either one of them would have a deleterious impact.

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I also don't think that either one of those things

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will have a really beneficial impact. But I think that

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they're fairly low cost to things that wouldn't be a

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bad political move to do before midterms. I think that's no.

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Speaker 1: Politically speaking, the optics are great.

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Speaker 3: Yeah, I think that's what it's all about, because, like

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you said, there's that will have no I mean you

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look at the US housing market. What are we talking

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about fifteen trillion in size? Right, So, like a purchase

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of two hundred billion dollars in MBS that doesn't do anything.

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Speaker 1: Okay, then the capping of this is an executive order,

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and our mutual friend Tom wrote analysis this. I wanted

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to share with you because I think Tom he's one

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of those guys who does investments on his own. He's

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an engineer and he thinks that way. And you remember

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when moving out to pizza, you guys end up gravitating

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towards each other and sharing shartstoles a whole stick at night, right,

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your drug sharts and the pizza pies and etc. So

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this is about President Trump's is going to use an

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executive order to stop Black Rock and Vanguard and others

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from buying up entire neighborhoods of single family homes. Tom Rights.

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We know Trump to make some pretty dramatic moves his potus,

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but this one really caught my Attentionion I'm conflicted. On

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one hand, he's talking about violating free market principles, which

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is perilous, But on the other hand, do we really

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have a free market when it comes to home affordability.

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I think I have something to say about this. Since

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I'm a city councilman, I'm asked to make quasi judicial

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decisions on land use. Inner cities. Cities throughout the country

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have been building codes which I had a layer of

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red tape and bureaucracy to building homes. This raises single

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family home costs uniformly. On the other hand, institutional investment

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companies buying up homes is a real thing. Blackrock is

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well known to do this. It's been reported in red

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Finn in a recent market analysis, and they target the

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lower tertiary, the most affordable of housing stock. That buy

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up whole swass within a municipality of neighborhood and then

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they literally sell to themselves, raising the market value of

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homes as a way of creating investment margin. Another effect

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that is to reduce the supply of housing stock, which

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under free market principles, raises the prices of homes. Then

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municipalities like mine are encouraged to authorise more land development

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in order to raise the supply and obtainability. It's a

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vicious cycle that can destroy communities. I'm interested in hearing

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what other people have to think about this. I won't

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know what you think about that about that analysis, I

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didn't know they were selling homes to each other. They

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buy up neighborhoods.

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Speaker 3: What they do that that's so vicious. Well, oh, it's Look,

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there's so many games and it's frustrating and somewhat disgusting

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to me because it is the ultimate form of window dressing.

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I mean, if you want to look at what another

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really good example of this is stock based comp stock

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based compensation.

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Speaker 2: Yeah right.

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Speaker 3: You look at how big stock based compensation has been

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in the tech world and they're, oh, they're giving people

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a skin in the game. Yeah they are. But the

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reason they do it is because when they pay you

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stock based comp they don't have to realize that as

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a cost right, that doesn't hit their cash Okay, it's

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just it dilutes shareholders, and then they turn around at

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the end of the year and announce a multi billion

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dollar stock buy back, so they keep the dilution at minimal.

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But then you turn around and look at it and

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just right, so they're not technically spending money on labor.

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They're spending money on stock buybacks, and so there's tax

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advantages to that. And it's not bad. It's there's nothing

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illegal with it. But what it does is it obvious

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skates what's really going on. It makes the things look

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better than they really are. So painting the tape.

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Speaker 1: So they're doing the same thing in the housing market.

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They're making you Oh, except that does affect real people.

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That does seel there are like kids my daughter's age

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who may not own a home ever.

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Speaker 3: So look, any time we're getting into and I love

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the way Tom put it because he if you notice,

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like he addresses all of his concerns, but he's still

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he's it's conservative style of thinking, right, He's being logical.

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He's sitting there going here are my concerns. I'm not

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really sure what I think as opposed to oh, businesses

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are bad. So I've moved on this and I have

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not deep dived this, but here here's my thinking. When

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I first talked on this, I think I was a

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little bit off the cuff and came out a little

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bit hard, and I was like, oh, it's inappropriate for

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corporations in mind. Here's the problem where I'm at now

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is I do not believe that we should allow Now,

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how do you define corporation? I think that that's a

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big deal, right. I think a lot of time needs

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to be defined on how we define that. Are we

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talking about an escort that a husband and a wife own,

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that owned fourteen rental homes right, that doesn't meet the cue.

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To me, what I think when we're talking about more

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major corporations like Goldman, Sachs, black Rock Goldman, or Berkshire Hathaway,

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where I'm at is I do not believe that they

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should be able to buy existing construction. But if they

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want to build their own, have at it. Okay, I

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like that. And here's now I'm not sure on this,

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but this is where I'm at right now. Here's why

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I think that if think about free markets, if you're

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building a home for the purposes of renting it out,

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the person that's going to rent that home out to

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you or rent rent that home from you is a

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person that can afford the rent and actually the payment

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of a nice home, but probably aren't in the financial

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place to get it. That's a wonderful service you're providing them.

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You're providing them both parties are winning, right, You're giving

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them thirty two hundred square feet four bedrooms for their

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three kids. Everybody's winning. What you don't want to do

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is you don't want to see big corporations come in

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and take over neighborhoods, right and all the problems that

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can come or that can happen. You could also, and

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I think that it's a big stretch, but you could

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also make the argument by buying existing construction, they could

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start cornering certain markets and dictating too much, if you

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call if you confine them strictly to new construction, I

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don't think that's going to pose any of those issues.

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Speaker 1: I would go with that. I would go with that

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because black Rock buying up neighborhoods. I've talked about this

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vertical and horizontal marketing. So they buy the integration, they

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buy up a neighborhoods yep. Then they buy up the

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cable service, then they buy up the delivery service. Then

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they own the airspace above it for drone deliveries right right,

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and they just now and then they are now they're

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going to create private roads and access and the smart

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cities are coming all the signs of that. I don't

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know if you saw this. This is a great big

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I told you so. I've been saying this for years.

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In Massachusetts, they're floating a bill to limit how far

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you can drive your own personal car per day. So

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this would clearly be about we need you all to

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move within the beautiful city Corps There's one other thing

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I want to talk with you about, and this is

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a big one because there's a huge debate on this

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and it has to do with President Trump and Jerry

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Powell and Jerome Powell put out an unprecedented statement. I

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heard someone say that Jerome Powell is the most ethical

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public servants today, and I don't know how you determine that.

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In that we aren't allowed to look into Jerom Powell's performance.

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So we'll talk about that in a second with Zach Abraham.

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A reminder, but both Zack and I get pretty caffeinated,

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and I think, Zach you would agree that we like

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the caffeine and Barbara successes the caffeine and their high RPMs.

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And there's some caffeine carriage systems that are good summer great.

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One that is great is bone Frog coffee. And the

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other day I was talking to Alex, who started to

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drink the frog because he and I were sitting around

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the other day. This is about six months ago, and

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Alex said, I gotta try bone Frog and I stopped

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and went, what.

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Speaker 3: Yeah, Zach, you also need to dust up your resume.

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Speaker 1: It was right, you're not you' drinking the frog up

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a beat it, so he finally got it. He loves

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the frog, and God blessed my young friend's door Kicker

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for him. I've turned him onto the other stuff. But

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the door Kicker is the brand that has the highest

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caffeine because it's around the guys. It's it's in honor

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of the guys who kicked down doors, going door to

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door in defense of our country. Is Bonefrog Coffee dot

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00:12:58,840 --> 00:13:00,960
com slash Todd, use prom Todd. You get ten percent

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off your first purchase, fifteen percent off subscription coffee. By

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the way, if you're weak in drink decaffeinated coffee, Zenfrog

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is your jam. And I've got friends who drink the

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zen Frog and it's a good nighttime coffee. Bonefrog Coffee

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dot Com, slash Todd, promo code Todd, So Zach Jerry

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Pow is that kind of call him? Jerry Yeah?

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Speaker 3: J Powell Jay you know something like that?

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Speaker 1: So Jpo Uh Jpo came out and put out what

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I call a sad face video. Here's jerown Powell. He

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is not a king, mind you. He's talking democracy because

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he's into the democracy. Good evening.

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Speaker 4: On Friday, the Department of Justice served the Federal Reserve

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with grand jury subpoenas threatening a criminal indictment related to

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my testimony before the Senate Banking Committee last June. That

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testimony concerned, in part, a multi year project to renovate

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historic Federal Reserve office buildings. I have deep respect for

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the role of law and for accountability. No one, certainly

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not the Chair of the Federal Reserve is above the law.

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But this unprecedented action should be seen in the broader

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context of the administration's threats and ongoing pressure.

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Speaker 1: All right, So he goes on to sad face that

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this is trying to pressure him to change interest rates,

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et cetera. It's an unprecedented attack against democracy. I can't

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get past Jerry Powell j Powe saying that he is

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not above the law, No one is, and that he's

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in favor of democracy and accountability. And I'm listening to this,

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and then I get comments from people saying this is

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the most ethical public servant working today, And I want

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to know how they know that. Did you have any

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similar response to this dude saying he's into accountability in transparency,

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et cetera.

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Speaker 3: Well, no and no you didn't have that response, Well, I, yes,

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and no I'm more like you where I'm confused. I

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saw comments that were similar to that. Yeah, and I

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was just confused. On the face of it. I went, Guys,

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since when did virtue signaling become real morality? I mean, like,

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I'm not saying he's not the most moral public serce,

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but because he came out and gave a scripted speech,

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that means he is. Now, what that speech ensures is

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that he's still accepted to all the best cocktail parties

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on both sides of the aisle. That's all that speech ensured. Now,

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if you want to get into does he have a point?

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Okay again, fan of you know supporter President Trump, I

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do think he's got a point meaning what he's saying. Look,

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the reason he's going after Powell is because Powell won't

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lower rates. It's not because pa Look I don't I

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don't know enough and I haven't gone through and audited it.

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I do not think Powell and the FOMC are rigging

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the system to get extra spending on on renovations FED buildings.

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And I just, I just I could be wrong. I

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could be wrong, and I will issue with me may

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a couple if I am. But this this kind of

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feels a lot to me, like and I don't disagree

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with this, but this feels a lot to me, like

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making Venezuela about Fenno, Right, Like does do drugs go

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through Venezuela?

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Speaker 2: Yes?

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Speaker 3: Is that why we're down there? No, we're down there

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because of the oil and the power that it gives

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Venezuela and the ability to sway geopolitical issues and and

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and to Trump's credit, he's also said that too. So I,

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unlike any other president, right, when we when we ever

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go into another country, there's always a humanitarian reason why, right, And.

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Speaker 1: Like always it's always colored that way. There's a lot

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we could talk about with Venezuela. There's the China cooperation,

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there's the Russian cooperation. Their radar systems failed Cuba, Like

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we we need to remember that China has promised to

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be the sole superpower. They have promised to be the

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number one purveyor of chemical and biological weapons. They do

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speak the language of racial supremacy, just as everybody remember

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that there are reasons to say we'd actually like to

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secure the Venezuelan oil for ourselves because we see some

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chips adding up against us. And I don't God forbid,

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we go take Greenland by military for US guys. If

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that happens, I'm out. Yeah, if we attack Greenland, count

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me out, count me out of megaalands. I'm done. There's

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ways to approach this attacking Greenland. No on this topic.

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Let me go back through with what I'm watching here.

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He probably perjured himself in front of Congress. Okay, there's

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a ton of problems with his testimony around this build

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number one. Where is the budget? Well, we don't have

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to show that to you. We're the Federal Reserve. Okay,

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we'd like to understand the vendor process. That's not supo.

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We need to show you. I don't like the fact

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that that entity has so much power and no boss

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and no one running it, and that this guy speaks

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the language of democracy and accountability. And I'm sorry. I

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would like to see this audited. I would love to

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see Jerry Powell or JPO sit in front of some

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people who could ask them some questions. Hey, while you're here,

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why can't we audit you?

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Speaker 3: Hey? Now, hold on, if that's what this is for,

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if this is the camel getting it under its nose,

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underneath the tent in order to begin auditing the FED.

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Then I am in full support of that, full support

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of that. My whole thing is, do I think that

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they're misappropriating funds on a FED building build out? I don't, Okay,

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Do I think what you just said and the inability

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for us to verify that as a problem. Absolutely, Hey, look,

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we one of the things we talk about. I think

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everybody's familiar with that two trillion dollars that's missing it

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out of the budget at some point over the last

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twenty five year or thirty years something like that.

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Speaker 1: Yeah.

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Speaker 3: Right, think about all of the things that we have

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or haven't funded with dark pools, you know, stuff that

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we've funded, Like you think about like the the uh,

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the Sandinistas down there and in Nicaragua when we were

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doing that, right, how Like, think about how easy it

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would be for an entity that isn't audit and it

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has no oversight or no regulator and has the ability

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to print the world's reserve currency with virtually no restrictions.

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Like meaning, I'm not so my adult brain tells me

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that the likelihood that funds have not been used for

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untoward things have got to be like zero. Okay, But

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I'm not even accusing them of that. I'm sitting there

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saying the fact that we have no ability to oversee that,

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or to verify that, or to check it. I mean,

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that's like leaving your front door open with a neon

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sign above. And it's saying, Robney, this is exactly what

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I'm saying. And look I'm looking at this is a

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grand jury, sy Penis. It's not congressional testimony. But if

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he gets in front of a grand jury, and he

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lies in front of a grain jury, now Jerry Powell

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has his significant problem, then there's some leverage on this.

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Speaker 1: Now. Is it to get interest rate?

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00:20:07,920 --> 00:20:08,119
Speaker 3: Sure?

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Speaker 1: President Trump's trying to blackmail him the way they tried

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to blackmail him, And don't tell me Jerry Powell wasn't

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part of that. Jerry Powell played with interest rates when

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it helped Biden and the people who ran Joe Biden.

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They lowered interest rates. They knew what they were doing.

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Jerry Powell's playing politics on this as well. He could

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have lowered interest rates. He has the power to not

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because he's not auditable. If this is what you said,

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the camel getting the toe under the tent and the

398
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nose of the tent, I am in because I would

399
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love to see the questions on this. It is an

400
00:20:37,599 --> 00:20:42,039
obscenity that these people get to invent debt, hand it

401
00:20:42,079 --> 00:20:45,200
to us and say pay us. That's obscene. And what

402
00:20:45,240 --> 00:20:48,400
they've done with this, particularly the COVID, was so obscene.

403
00:20:48,839 --> 00:20:51,920
That has to change. It has to be audited. And

404
00:20:52,680 --> 00:20:55,519
furthermore on this, look at USAID and all the things

405
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we've learned about that money laundering and that whole thing

406
00:20:57,599 --> 00:20:59,400
that came up. If it's too dirty for the CIA,

407
00:20:59,519 --> 00:21:02,640
give it to you AID. Tell me an entity that

408
00:21:02,720 --> 00:21:06,440
gets to conjure debt and force the American people to

409
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pay it back, isn't doing the same thing. Man, If

410
00:21:09,319 --> 00:21:12,640
you're the CIA, I'd be I'd have I'd have offices

411
00:21:12,799 --> 00:21:15,880
all over the Federal Reserve, I'd have everybody on my payroll,

412
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and i'd have everybody hung up on a blackmail thing,

413
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everybody I'd.

414
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Speaker 3: Own and well, and here's the problem I've got with

415
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it is what are the chances that that isn't happening?

416
00:21:25,480 --> 00:21:27,960
Right again? I don't want to be a conspiracy theorist.

417
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Speaker 1: I don't know.

418
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Speaker 3: I've got no clue, but you know, you just sit

419
00:21:32,000 --> 00:21:35,519
back and you look at the different parts and you go, Okay,

420
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it's possible nothing untoward is going on here. I mean,

421
00:21:41,240 --> 00:21:46,000
look the people that occupy Washington, DC. For me to

422
00:21:46,039 --> 00:21:48,839
believe that nothing untoward was going on there, you'd have

423
00:21:48,880 --> 00:21:52,359
to convince me that a bunch of Midwestern pastors are

424
00:21:52,400 --> 00:21:55,079
are what's occupying DC right now for me to believe

425
00:21:55,079 --> 00:21:57,839
that story, right, I just you give those kind of

426
00:21:57,880 --> 00:22:01,960
people access and proximity to unlimited amounts of printed money

427
00:22:02,279 --> 00:22:07,519
and no oversight ability, Like that's crazy to me. That's crazy.

428
00:22:07,599 --> 00:22:11,079
Speaker 1: Yeah, it's the absolute fraud playground of the world. There's

429
00:22:11,400 --> 00:22:13,920
one thing about that though, what you just said, this

430
00:22:14,000 --> 00:22:20,519
Midwestern pastorn thing. Let's remember that everybody can fall everybody

431
00:22:21,079 --> 00:22:23,720
and you can be any process. Satan is always hunting us.

432
00:22:23,759 --> 00:22:27,000
I can't count how many times we're told in the

433
00:22:27,039 --> 00:22:30,720
Bible believers are told Hebrews fourteen through thirty one is

434
00:22:30,839 --> 00:22:35,039
telling believers, do not depart the fath, do not be fooled,

435
00:22:35,599 --> 00:22:37,799
do not turn your back on the Holy Spirit, don't

436
00:22:37,839 --> 00:22:40,799
do these things once you know the truth, to practice sin,

437
00:22:41,640 --> 00:22:44,880
look forward to the fires of hell, etc. So I

438
00:22:44,960 --> 00:22:47,279
know you're making a joke about the Midwest pastors. We

439
00:22:47,359 --> 00:22:49,200
need to talk faith and we need to talk to

440
00:22:49,240 --> 00:22:52,720
finance faithful finance with Zach Abraham here. And really it's

441
00:22:52,839 --> 00:22:55,200
very sad because it's coming off of the death of

442
00:22:55,240 --> 00:22:58,039
a guy who is known as the Dilbert creator. And

443
00:22:58,079 --> 00:23:01,880
then the headlines around this. Have you seen the headlines,

444
00:23:02,480 --> 00:23:04,519
They're calling this guy disgrace. It says we'll talk about

445
00:23:04,519 --> 00:23:07,440
this in just a second. Was that Gameraham, I'm a

446
00:23:07,440 --> 00:23:10,640
guy who's going to be going back down. If it's

447
00:23:10,680 --> 00:23:12,759
good travel and it's safe and all that, I'm gonna

448
00:23:12,799 --> 00:23:17,160
be going back down to renew Healthcare in about the

449
00:23:17,400 --> 00:23:21,559
February April timeframe. They're now doing anti aging and they

450
00:23:21,599 --> 00:23:24,799
sent me this kit that will determine the age of

451
00:23:24,839 --> 00:23:28,319
min internal organs and in that then what they can

452
00:23:28,359 --> 00:23:30,160
do is if I've got a problem with the specific

453
00:23:30,200 --> 00:23:33,279
internal organ they have stem cell treatments and hyperbaric treatments

454
00:23:33,279 --> 00:23:36,960
and IV treatments that can effectively reverse the aging process

455
00:23:37,000 --> 00:23:40,720
of an organ. So if my heart is extra old, kidneys,

456
00:23:40,759 --> 00:23:43,599
et cetera, they can do that because it's the inside

457
00:23:43,640 --> 00:23:46,519
of us that powers the outside of us. The way

458
00:23:46,519 --> 00:23:49,920
the stem cells work is they regenerate tissue miraculously. Because

459
00:23:49,920 --> 00:23:53,319
this is God's design. The stem cells that Renew uses

460
00:23:53,359 --> 00:23:56,640
are not assigned any purpose. They just build. Nor are

461
00:23:56,720 --> 00:23:59,480
they from random people. They're from people whose healths have

462
00:23:59,519 --> 00:24:02,079
been screened, the health of the Babiesman's screen during and

463
00:24:02,160 --> 00:24:05,599
after pregnancy. The screen so much that Renew has the

464
00:24:06,440 --> 00:24:10,160
luxury of rejecting ninety percent of the stem cells and

465
00:24:10,200 --> 00:24:12,759
then culturing the ones that remain. That's what I'm going

466
00:24:12,799 --> 00:24:14,640
to get done the next time I go down there. Now,

467
00:24:14,640 --> 00:24:16,480
you could say you could get that done in America. Sure,

468
00:24:16,519 --> 00:24:19,240
if I want freeze dried stem cells taken from whomever

469
00:24:19,400 --> 00:24:22,200
stored however long and skip toob Ernie twenty thirty times

470
00:24:22,200 --> 00:24:24,480
around the country, I could roll the dice in that

471
00:24:24,559 --> 00:24:26,359
I'm not willing to do that. You can do the

472
00:24:26,359 --> 00:24:28,599
same thing as me. Go to renew dot Healthcare. It's

473
00:24:28,680 --> 00:24:31,039
r E n U E dot Healthcare, telling me you're

474
00:24:31,039 --> 00:24:32,960
part of the Todd Herman Show family. It's Renewed r

475
00:24:32,960 --> 00:24:36,680
E n U E dot Healthcare, directly the deside of God.

476
00:24:36,480 --> 00:24:37,200
Speaker 2: Said cells.

477
00:24:37,559 --> 00:24:40,759
Speaker 1: So on the faithful finance topic, Zach Abraham's with me,

478
00:24:40,920 --> 00:24:44,759
chief investment officer Bulwart Capital Management, Scott. You saw the

479
00:24:44,799 --> 00:24:47,839
sad news of Scott Adams dying, Zach.

480
00:24:47,880 --> 00:24:48,720
Speaker 3: Yeah, yeah, yeah.

481
00:24:49,279 --> 00:24:52,799
Speaker 1: So Scott was a very wealthy man, very successful. Would

482
00:24:52,839 --> 00:24:56,799
you agree that after Dilbert's had kind of it reached

483
00:24:56,960 --> 00:25:01,000
zenith and we saw him online explaining system thinking and

484
00:25:01,160 --> 00:25:04,400
psychology and politics. I think he was gifted with an

485
00:25:04,400 --> 00:25:06,880
incredible and incredible intellect.

486
00:25:07,119 --> 00:25:09,000
Speaker 3: Oh yeah, brilliant guy, brilliant guy.

487
00:25:09,240 --> 00:25:11,880
Speaker 1: Yeah yeah. And the coffee with Scott Adam's thing showed

488
00:25:11,920 --> 00:25:14,440
him to be a very approachable man, showed him to

489
00:25:14,440 --> 00:25:17,119
be someone that you could turn to like as a friend.

490
00:25:17,200 --> 00:25:19,839
He was apparently a very very good husband. But it

491
00:25:19,880 --> 00:25:21,920
brought up a topic that you and I have kind

492
00:25:21,920 --> 00:25:24,319
of florded with talking about before, and it has to

493
00:25:24,319 --> 00:25:27,279
do with rich people in the Kingdom of Heaven. I

494
00:25:27,359 --> 00:25:32,359
want you to hear the statement that his ex wife

495
00:25:32,359 --> 00:25:36,119
put out, and it was something Scott wrote he wanted

496
00:25:36,160 --> 00:25:39,279
people to hear this after his death. Here's what his

497
00:25:39,400 --> 00:25:41,599
ex wife read for people's consumption.

498
00:25:42,000 --> 00:25:45,559
Speaker 5: Next. Many of my Christian friends have asked me to

499
00:25:45,599 --> 00:25:50,200
find Jesus before I go. I'm not a believer, but

500
00:25:50,319 --> 00:25:54,519
I have to admit the risk reward calculation for doing

501
00:25:55,079 --> 00:25:58,799
so looks so attractive to me. So here I go.

502
00:26:00,680 --> 00:26:05,119
I accept Jesus Christ as my Lord and Savior and

503
00:26:05,200 --> 00:26:09,640
look forward to spending an eternity with him. The part

504
00:26:09,680 --> 00:26:14,359
about me not being a believer should be quite quickly resolved.

505
00:26:15,000 --> 00:26:19,319
If I wake up in heaven, I won't need any

506
00:26:19,400 --> 00:26:24,880
more convincing than that. I hope I'm still qualified for entry.

507
00:26:26,279 --> 00:26:28,359
Speaker 1: So that's part of what he said in his note.

508
00:26:28,359 --> 00:26:30,880
There's Zach and it begins with I do not believe

509
00:26:30,920 --> 00:26:35,480
your God, paraphrasing I do not believe, but I'm willing

510
00:26:35,519 --> 00:26:38,400
to issue what I would call an incantation Harry Potter

511
00:26:38,440 --> 00:26:41,920
type incantation. I'm going to say some words that will

512
00:26:41,920 --> 00:26:45,319
have a magic effect, and then I'm going to offer

513
00:26:45,359 --> 00:26:51,000
a negotiation with God. I'll die, you wake me up,

514
00:26:51,119 --> 00:26:53,559
then I'll believe. And what's so sad about this to

515
00:26:53,599 --> 00:26:56,079
me is, guess what if Scott Adams, God forbid, woke

516
00:26:56,160 --> 00:27:00,400
up in hell he also believes? Yeah, and you right.

517
00:27:00,480 --> 00:27:03,759
He was a very wealthy man, a very smart man,

518
00:27:04,440 --> 00:27:06,359
and in that that's what I wanted to talk with

519
00:27:06,359 --> 00:27:08,119
you about. In the faithful finance front. Then we can

520
00:27:08,119 --> 00:27:12,000
expand this. I think that's an example of why it's

521
00:27:12,000 --> 00:27:13,640
so hard for a rich man to make it into

522
00:27:13,680 --> 00:27:15,599
heaven because a rich man can look around and said, well,

523
00:27:15,640 --> 00:27:18,000
I did all this on my own. You spend a

524
00:27:18,039 --> 00:27:20,519
lot of time around wealthy people. You've been very good

525
00:27:20,519 --> 00:27:22,319
in finance, so you've met more of them than I do.

526
00:27:22,400 --> 00:27:24,079
You work with more of them than I do these days.

527
00:27:24,720 --> 00:27:27,759
Why do you think it's hard for rich people to

528
00:27:27,759 --> 00:27:28,519
make it into heaven?

529
00:27:30,880 --> 00:27:33,279
Speaker 3: At the risk is sounding arrogant, I don't think. I know,

530
00:27:35,000 --> 00:27:38,480
and I've experienced at firsthand through a lot of other people,

531
00:27:39,559 --> 00:27:41,119
and I've dealt with it to a certain degree on

532
00:27:41,160 --> 00:27:43,319
my own. And there's a thing that my wife and

533
00:27:43,400 --> 00:27:46,119
I referred to that when we started Bullwork, I think

534
00:27:46,160 --> 00:27:49,160
we started with about twelve million dollars under management, and

535
00:27:49,240 --> 00:27:51,240
now as of today, I think we're about forty million

536
00:27:51,240 --> 00:27:53,440
away from the one billion dollar mark. Wow.

537
00:27:54,359 --> 00:27:55,519
Speaker 2: And I.

538
00:27:57,319 --> 00:27:59,720
Speaker 3: There's not a there's not an ounce of brag in that.

539
00:27:59,720 --> 00:28:02,920
There's nobody more shocked by it than I am. I

540
00:28:02,960 --> 00:28:05,079
see the numbers and people are like, well, wasn't that

541
00:28:05,119 --> 00:28:07,119
always your goal? And no, man, my goal was that

542
00:28:07,200 --> 00:28:09,119
I didn't lose my house and I fed my kids

543
00:28:09,160 --> 00:28:11,440
like that that was the you know. I mean, sure

544
00:28:11,440 --> 00:28:14,440
we all have dreams, but you know, when you're staring down,

545
00:28:15,079 --> 00:28:17,240
when you're staring down on viction, you're not thinking about

546
00:28:17,240 --> 00:28:19,359
getting to a billion dollars under management, you know what

547
00:28:19,400 --> 00:28:23,480
I mean. Right, But with each step that we've taken

548
00:28:24,759 --> 00:28:29,720
and we've reached these different financial platforms, it kind of

549
00:28:29,720 --> 00:28:31,680
caught me off guard a couple of times, but then

550
00:28:31,759 --> 00:28:34,480
it started getting to very predictable. And my wife and

551
00:28:34,519 --> 00:28:37,039
I talk about it. We refer to it as equalizing,

552
00:28:38,119 --> 00:28:41,119
meaning you hit these different platforms and these different things

553
00:28:41,160 --> 00:28:43,799
open up to you because you've got the freedom and

554
00:28:43,920 --> 00:28:46,920
the and the financial wherewithal to do these different things.

555
00:28:47,319 --> 00:28:51,240
And that's a new reality. And I've equated it to

556
00:28:51,440 --> 00:28:55,319
like deep seed, like like deep diving, Right, you need

557
00:28:55,359 --> 00:28:58,079
to stop every twenty twenty feet and calibrate and blow

558
00:28:58,119 --> 00:28:59,880
your ears and all that kind of stuff. And I

559
00:29:00,079 --> 00:29:02,200
found that I needed to do that, not because I

560
00:29:02,240 --> 00:29:04,319
was like going off the rails, but it's a new reality.

561
00:29:04,359 --> 00:29:08,000
It's a it's a place you've never been to before, right,

562
00:29:08,079 --> 00:29:10,880
Like most people have not experienced making in a month

563
00:29:10,920 --> 00:29:13,400
more money than they need to live over the next year,

564
00:29:13,559 --> 00:29:15,799
you know what I mean. That's a that's a different reality,

565
00:29:16,319 --> 00:29:19,119
and it's really easy for it to mess with your mind,

566
00:29:19,160 --> 00:29:22,279
to get you focused on the wrong things. And the

567
00:29:22,359 --> 00:29:25,079
other part of it is that as you get more money,

568
00:29:25,200 --> 00:29:28,559
you are able to mold and shape your life and

569
00:29:28,640 --> 00:29:32,519
your work life and everything around you to exactly the

570
00:29:32,519 --> 00:29:34,599
way you want it. And if you think about it,

571
00:29:34,640 --> 00:29:39,359
that's not normal, right, Like everybody has to deal with

572
00:29:39,440 --> 00:29:41,160
things that they don't want to deal with it they

573
00:29:41,160 --> 00:29:43,240
don't like. The more money you have, the less of

574
00:29:43,240 --> 00:29:45,119
those things you have to deal with. Again, I'm a

575
00:29:45,119 --> 00:29:47,920
perfect example. One of my primary goals when I started

576
00:29:47,960 --> 00:29:49,640
bullwork was to get to the point where I didn't

577
00:29:49,680 --> 00:29:52,400
have to do my own paperwork, right, like, just a

578
00:29:52,440 --> 00:29:55,440
little thing like that. Now you know, Now I have

579
00:29:55,759 --> 00:29:58,079
hired people and built a team to where I only

580
00:29:58,119 --> 00:30:00,440
do the things that I like to do about my job.

581
00:30:00,480 --> 00:30:04,119
I've outsourced that around. Is that a realistic life for me? No,

582
00:30:04,480 --> 00:30:07,200
I've been unbelievably blessed and very few people get to

583
00:30:07,200 --> 00:30:09,880
do that. And it's really easy for that to start

584
00:30:09,920 --> 00:30:12,880
bleeding into other parts of your life. Nobody tells you, No,

585
00:30:13,480 --> 00:30:15,359
the more money you have, the more your butt gets

586
00:30:15,400 --> 00:30:19,000
kissed every time you walk through a door. That's not normal, right.

587
00:30:19,079 --> 00:30:22,039
You can mold your reality around you. You can effectively

588
00:30:22,119 --> 00:30:24,920
be your own God. Right, So you said.

589
00:30:24,720 --> 00:30:27,400
Speaker 1: You did guess you weren't guessing why it's hard for

590
00:30:27,480 --> 00:30:29,319
rich people to make it into heaven. You said, you know,

591
00:30:30,559 --> 00:30:33,759
is that the kapper that you're treated like a little

592
00:30:33,759 --> 00:30:34,319
baby God.

593
00:30:35,279 --> 00:30:38,400
Speaker 3: Yeah, and you treat yourself that way that if you

594
00:30:38,480 --> 00:30:40,480
want this, you buy it. You don't think, right like

595
00:30:40,519 --> 00:30:45,079
it distorts kind of the normal human experience to a

596
00:30:45,079 --> 00:30:45,799
certain degree.

597
00:30:45,880 --> 00:30:48,000
Speaker 1: Well, right, I'm looking at Scott Adams. I mean there's

598
00:30:48,119 --> 00:30:51,200
Zach Abraham's you know, the work that you've done and

599
00:30:51,240 --> 00:30:53,799
the challenges you and your wife face and building Bulwark.

600
00:30:53,960 --> 00:30:56,480
I've got my challenges. I've had my seasons of plenty.

601
00:30:57,480 --> 00:31:00,279
As a podcast. World changes. We were here right now

602
00:31:00,400 --> 00:31:02,240
retooling some things. So some things we're going to focus

603
00:31:02,240 --> 00:31:04,119
on differently, and some things were do differently. The radio

604
00:31:04,119 --> 00:31:06,440
world change. So you go through plenties, you go through

605
00:31:06,599 --> 00:31:09,160
seasons of plenty. And God is the god of the mountains,

606
00:31:09,200 --> 00:31:11,680
He's the God of the valleys. He's with us. My challenge,

607
00:31:11,759 --> 00:31:14,799
Zach is actually trusting God. And I'll tell you I

608
00:31:14,839 --> 00:31:17,799
trust God, but sometimes I will be fearful about financial

609
00:31:17,880 --> 00:31:21,880
outcomes and then I remember, wait, God has me, always

610
00:31:21,880 --> 00:31:24,640
has had me. What I hear in Scott Adam's statement

611
00:31:24,839 --> 00:31:26,920
is something that my daughter will sometimes joke about. If

612
00:31:26,960 --> 00:31:29,720
my daughter's in the house and I remember this, I'll

613
00:31:29,720 --> 00:31:31,440
never forget this. I was on the phone with my

614
00:31:31,599 --> 00:31:34,759
agent when I had a radio agent and we were

615
00:31:34,759 --> 00:31:38,559
talking about the contract renewal. And I was on the

616
00:31:38,559 --> 00:31:41,240
phone with Heather and hung up the phone and said, hey, honey.

617
00:31:41,400 --> 00:31:45,640
She goes, ooh, Daddy's doing business. That's daddy's business voice,

618
00:31:45,640 --> 00:31:47,599
the deal making voice. I go, I'm that different. She goes, oh,

619
00:31:47,599 --> 00:31:50,759
my gosh, you're so different. I'm in command, and I'm

620
00:31:50,799 --> 00:31:53,880
in charge, and I'm hearing from Scott Adams, and that's

621
00:31:53,880 --> 00:31:57,119
something that really makes me sad. I heard him negotiate.

622
00:31:58,640 --> 00:32:00,400
I heard him say, all right, well, so if I

623
00:32:00,480 --> 00:32:05,079
understands your deal correctly, Lord, it is that I repent

624
00:32:05,160 --> 00:32:12,319
of my sins. I come to you in humility. I

625
00:32:12,359 --> 00:32:14,200
recognize that you are the King of the universe, the

626
00:32:14,240 --> 00:32:18,079
Lord of all things, my personal savior. I can't do

627
00:32:18,119 --> 00:32:21,200
it on my own. I beg you to forgive me

628
00:32:21,519 --> 00:32:24,359
to be my savior. I accept you as my savior,

629
00:32:24,839 --> 00:32:26,960
and then I ask you to change me and to

630
00:32:27,000 --> 00:32:29,640
sanctify me, and then I begin acting that way. Okay,

631
00:32:29,680 --> 00:32:31,640
I hear you. I mean, and that's an attractive offer.

632
00:32:31,680 --> 00:32:34,359
I'm not here to say it isn't. But I want

633
00:32:34,400 --> 00:32:37,400
to counter you with this, God, how about this. I'll die.

634
00:32:38,680 --> 00:32:41,559
I don't believe in you, but I'll die, and then

635
00:32:41,599 --> 00:32:44,079
when I die, you wake me up and heaven, and

636
00:32:44,119 --> 00:32:46,799
then I will believe. So that's my counteroffer, and it's

637
00:32:46,799 --> 00:32:49,640
my final offer. And sadly it was his final offer.

638
00:32:50,200 --> 00:32:53,640
So I see a guy who spent a lifetime negotiating

639
00:32:53,720 --> 00:32:59,920
rights for Dilbert in cartoons, in syndication, in books, in merchant,

640
00:33:00,359 --> 00:33:02,559
and look at what he did financially for his family.

641
00:33:03,039 --> 00:33:05,480
And it was just Dilbert he did. He wrote books

642
00:33:05,559 --> 00:33:09,759
about work, he wrote books about marketing. He became, hey,

643
00:33:09,799 --> 00:33:11,960
I don't need a publisher, all self published. He created

644
00:33:11,960 --> 00:33:15,559
a social media platform of notes, he became political thinker. Right,

645
00:33:15,599 --> 00:33:17,759
that's what I see him trying to do negotiating with God.

646
00:33:18,519 --> 00:33:25,839
Speaker 3: He never didn't have leverage. He never didn't have leverage.

647
00:33:26,359 --> 00:33:26,559
Speaker 1: Right.

648
00:33:26,680 --> 00:33:28,759
Speaker 3: He is not used to and nor should he be.

649
00:33:28,799 --> 00:33:31,359
He's not used to operating without leverage. He got into

650
00:33:31,400 --> 00:33:33,920
a negotiation that he didn't realize he has their leverage.

651
00:33:34,480 --> 00:33:37,400
It's not a negotiation, it's an offer, take it or

652
00:33:37,480 --> 00:33:41,039
leave it. Yeah, right, And this gets back to my

653
00:33:41,440 --> 00:33:43,000
you ever see the movie Devil's Advocate?

654
00:33:43,240 --> 00:33:46,079
Speaker 1: Yes, al, but she knows in that there's some horrifically

655
00:33:46,960 --> 00:33:48,480
nearly pornographic scenes in.

656
00:33:48,440 --> 00:33:53,519
Speaker 3: That there are, and what I would advise people do,

657
00:33:53,720 --> 00:33:56,359
And I would say probably like seventeen years old would

658
00:33:56,400 --> 00:33:58,960
be the cutoff, maybe sixteen if they're I.

659
00:33:59,359 --> 00:34:00,720
Speaker 1: Say seven at least.

660
00:34:01,119 --> 00:34:05,599
Speaker 3: Okay, but figure out where those scenes are because the

661
00:34:06,799 --> 00:34:10,840
ironically the message that movie sense was phenomenal, which is

662
00:34:10,840 --> 00:34:17,039
what the seduction of power and money and prestige and how.

663
00:34:17,119 --> 00:34:20,639
And there's a scene at the end where Keanu Reeves

664
00:34:20,679 --> 00:34:22,800
does the right thing right, He stands up for right,

665
00:34:22,920 --> 00:34:25,800
He vanquishes his foe, walks into the bathroom, and the

666
00:34:25,840 --> 00:34:28,199
reporter pulls up next to him. He goes, man, you're

667
00:34:28,280 --> 00:34:31,039
incredible in the courtroom, and there's kind of that twinkle

668
00:34:31,039 --> 00:34:33,360
in his eye. Keanu Reeves walks out of the bathroom.

669
00:34:33,519 --> 00:34:35,599
All of a sudden, the reporter flips back to being

670
00:34:35,599 --> 00:34:39,960
an al pacino and he goes, pride, it's my favorite, right,

671
00:34:40,440 --> 00:34:43,519
and and you sit there and you're like, oh, and

672
00:34:44,320 --> 00:34:47,159
that pride. You and I were talking about this off

673
00:34:47,159 --> 00:34:50,320
the offline the craziest. I got a little choked up

674
00:34:50,320 --> 00:34:52,639
when I listened to his wife talking just now. And

675
00:34:52,679 --> 00:34:56,000
the reason I yeah, And the reason why is because

676
00:34:56,039 --> 00:34:59,960
I hear the words of a man negotiating with somebody

677
00:35:00,000 --> 00:35:02,920
it doesn't need to be negotiated with, and you realize

678
00:35:03,280 --> 00:35:05,480
the penalty. It's so much easier to see faults in

679
00:35:05,559 --> 00:35:07,239
other people. And I think that we should all sit

680
00:35:07,280 --> 00:35:10,039
back and look at that. What we just saw was

681
00:35:10,119 --> 00:35:13,719
the horrific impacts of pride. And you and I were saying,

682
00:35:14,000 --> 00:35:18,519
if you have five, ten thirty days to live, think

683
00:35:18,599 --> 00:35:22,599
of how illogical it is to take the approach that

684
00:35:22,599 --> 00:35:27,360
that very logical man took. Right. Why why wouldn't you

685
00:35:27,480 --> 00:35:29,679
at least say it? Why wouldn't you just go No,

686
00:35:29,800 --> 00:35:33,559
I do believe right, Like, if it's not the case,

687
00:35:33,639 --> 00:35:35,480
you don't have to spend the next twenty years going

688
00:35:35,480 --> 00:35:36,559
to church. No.

689
00:35:36,679 --> 00:35:41,440
Speaker 1: Right, And I I can respect him saying out loud

690
00:35:41,480 --> 00:35:44,920
to God, I don't believe in you, right, because better

691
00:35:44,960 --> 00:35:48,800
so not a lot of God's face, because God knows right.

692
00:35:48,920 --> 00:35:53,440
But that so my question then is with all his money,

693
00:35:53,480 --> 00:35:56,360
all his success. You said, never time, or he didn't

694
00:35:56,360 --> 00:35:58,719
have leverage. Well, you know what, I guess I'll just

695
00:35:58,760 --> 00:36:01,199
take my cartoon away from you. I guess you don't

696
00:36:01,199 --> 00:36:03,320
really need the Delbert calendar. If you're not willing to

697
00:36:03,320 --> 00:36:04,920
pay that, that's fine, because I don't need the Delbert

698
00:36:04,960 --> 00:36:06,519
calendar either. Right, I've got plenty of time.

699
00:36:06,599 --> 00:36:07,199
Speaker 3: Ielf published.

700
00:36:07,280 --> 00:36:09,559
Speaker 1: Right, I'll self publish a good idea calendar. I like that.

701
00:36:09,599 --> 00:36:11,000
I'll do that on my own. Thanks for the idea.

702
00:36:11,039 --> 00:36:12,719
No no, no, no, no no no, Scott, no no. We

703
00:36:12,719 --> 00:36:14,519
can work this out. Baby. We love you seriously, No,

704
00:36:14,599 --> 00:36:18,679
we love you very much. So what are the keys

705
00:36:20,000 --> 00:36:24,519
to people who have reached financial success? Zat Abraham? What

706
00:36:24,599 --> 00:36:27,840
are the keys to staying grounded? One of the things

707
00:36:27,880 --> 00:36:29,639
I had a friend of mine tell me when we

708
00:36:29,719 --> 00:36:32,639
started building a startup together. He was my mentor in tech.

709
00:36:33,159 --> 00:36:36,000
He said, promise yourself. There's things you'll never do, Like

710
00:36:36,320 --> 00:36:38,320
John said, my rule is I'll never buy a Porsche

711
00:36:38,320 --> 00:36:40,599
because everyone I've ever seen buy a nice Porsche turns

712
00:36:40,599 --> 00:36:44,840
into a jerk. So I've given myself rules. In politics,

713
00:36:44,840 --> 00:36:47,440
I used to tell my staff. I used to say

714
00:36:47,440 --> 00:36:51,920
a very very racy phrase. I'd say to them, the

715
00:36:51,960 --> 00:36:54,440
first trick you turn is the hardest. After a while,

716
00:36:54,440 --> 00:36:55,679
you just get in the car and you let the

717
00:36:55,760 --> 00:36:59,320
John drive. Meaning the first time you violate your principles

718
00:36:59,440 --> 00:37:01,800
is not going to good. After that, you'll get used

719
00:37:01,800 --> 00:37:04,760
to it. So I had them create a plaque that

720
00:37:04,800 --> 00:37:06,679
they put up on their wall with a mirror. These

721
00:37:06,719 --> 00:37:10,199
are things I'll never do. And the day you do one,

722
00:37:10,239 --> 00:37:13,159
you quit. You leave DC and give your best friends

723
00:37:13,239 --> 00:37:16,360
and your parents a copy of that plaque as a poster.

724
00:37:16,400 --> 00:37:18,239
And if they ever see you doing one of those things,

725
00:37:18,239 --> 00:37:19,800
they come to you and say it's time to leave DC.

726
00:37:20,480 --> 00:37:23,880
You took your first bribe, yep. And everybody gets offered

727
00:37:23,880 --> 00:37:26,719
a bribe in DC. Everybody gets offered a bribe. Eventually,

728
00:37:26,760 --> 00:37:28,840
if you have any job of note, you get offered.

729
00:37:28,840 --> 00:37:31,800
You can get offered a bribe as a hotel maid. Hey,

730
00:37:31,800 --> 00:37:34,159
there's a guy staying in the room. We need you

731
00:37:34,199 --> 00:37:37,159
to put this on his shoes. Okay, we need you

732
00:37:37,199 --> 00:37:39,079
to put this on his belt, and we'll pay you.

733
00:37:40,159 --> 00:37:42,639
So how do you stay grounded? Then? What are the

734
00:37:42,719 --> 00:37:46,800
rules for people who are really wealthy and they don't

735
00:37:46,800 --> 00:37:49,719
want to fall away? From Christ. How do you handle

736
00:37:49,760 --> 00:37:51,599
that for yourself? And what do you suggest the rules

737
00:37:51,639 --> 00:37:52,280
of other people?

738
00:37:53,599 --> 00:37:56,280
Speaker 3: So this is this will sound kind of weird, but

739
00:37:58,480 --> 00:38:00,800
one thing that I've experienced, and I've seen a lot

740
00:38:00,840 --> 00:38:05,679
of other people experience it to greater levels, but ownless stuff.

741
00:38:07,360 --> 00:38:10,440
And the reason I say that is when you have

742
00:38:10,559 --> 00:38:14,039
the ability to purchase whatever you want whenever you want to,

743
00:38:14,199 --> 00:38:18,880
within reason, you know, it can be very exhilarating and

744
00:38:18,920 --> 00:38:20,159
there's parts of it that there are a lot of fun.

745
00:38:20,599 --> 00:38:23,440
But what happens to a lot of people is you

746
00:38:23,480 --> 00:38:30,480
start acquiring things and inadvertently a you start spending more

747
00:38:30,559 --> 00:38:34,280
time focused on the maintenance and the care and the

748
00:38:34,440 --> 00:38:38,119
those things take. They start taking a very bizarre place.

749
00:38:38,679 --> 00:38:40,800
And the other thing they start doing is they start

750
00:38:40,840 --> 00:38:44,400
sucking up in ordinate amounts of capital and they start

751
00:38:44,480 --> 00:38:48,880
restricting you. You know, you're wealthy, You've still got plenty

752
00:38:48,880 --> 00:38:52,239
of flexibility and you can do things. But I've seen

753
00:38:52,400 --> 00:38:56,480
many times where people probably should have and felt led

754
00:38:56,559 --> 00:38:59,320
to give, but they couldn't because they were juggling vacation

755
00:38:59,440 --> 00:39:02,679
homes or someone you see what I'm saying, And there

756
00:39:02,960 --> 00:39:06,800
and there's these these stuff is so stuff is so

757
00:39:06,920 --> 00:39:08,880
much less fulfilling than people think it's going to be.

758
00:39:09,280 --> 00:39:11,400
And it's so much more of a pain than people

759
00:39:11,440 --> 00:39:12,119
think it's going to be.

760
00:39:12,199 --> 00:39:13,280
Speaker 1: Yeah, we did.

761
00:39:13,280 --> 00:39:15,880
Speaker 3: We ascribed so much value to things that we do

762
00:39:15,960 --> 00:39:18,800
not have. Yeah, and it's and it's a huge mistake.

763
00:39:20,280 --> 00:39:24,599
Speaker 1: I saw a person do a spiritual balance sheet, and

764
00:39:24,679 --> 00:39:28,320
I thought, this is a really interesting approach. Profit loss

765
00:39:28,360 --> 00:39:33,320
for the family, for the home, okay, the business, investments

766
00:39:33,320 --> 00:39:37,320
in the kingdom. And they put a line item down

767
00:39:37,360 --> 00:39:44,679
there and it blew their minds. Four homes, vacations, college funds,

768
00:39:45,519 --> 00:39:49,159
and we tithe, we give ten percent, and they, as

769
00:39:49,199 --> 00:39:50,679
a husband and wife, sat back and looked at us,

770
00:39:50,679 --> 00:39:54,880
said that is pathetic. It is flat pathetic. We could

771
00:39:54,920 --> 00:39:58,000
afford thirty percent and it wouldn't even make a dent.

772
00:39:58,719 --> 00:40:01,280
Speaker 3: So I was just gonna say one of my biggest

773
00:40:01,280 --> 00:40:03,840
tips to people, as you start making amounts of money,

774
00:40:03,880 --> 00:40:06,599
if you're fortunate enough to come into an income that's

775
00:40:06,639 --> 00:40:09,079
reflective of the top one percent or something like that,

776
00:40:09,519 --> 00:40:12,719
piece of advice. The best thing that you can do

777
00:40:12,800 --> 00:40:14,960
for your marriage, you can do for your own peace

778
00:40:15,000 --> 00:40:18,000
of mind, for your soul, for your family. Make the

779
00:40:18,119 --> 00:40:21,079
number one, because this is the beautiful thing about money.

780
00:40:21,239 --> 00:40:26,159
I think people always miss this. When you have big

781
00:40:26,159 --> 00:40:30,079
amounts of excess, you can prioritize anything however you want to.

782
00:40:30,639 --> 00:40:34,760
So make the giving the number one priority, like my

783
00:40:34,840 --> 00:40:36,920
wife and I have. And it look, I don't do

784
00:40:37,000 --> 00:40:39,360
everything perfect. I'm not saying at all, but I've set

785
00:40:39,400 --> 00:40:42,920
these things up because I'm not perfect. Meaning We've got

786
00:40:42,960 --> 00:40:45,400
to the point where when we want to do something

787
00:40:45,440 --> 00:40:49,039
with money, but a financial an opportunity to give crosses

788
00:40:49,079 --> 00:40:53,199
our path, we know immediately that don'e put that thing

789
00:40:53,239 --> 00:40:56,480
on the side, give to that right. And I love

790
00:40:56,519 --> 00:40:59,280
it when it happens. I didn't at first because it

791
00:40:59,320 --> 00:41:01,679
was an inconvenient right. Well, I want that we got

792
00:41:01,719 --> 00:41:03,880
to do the right thing. What I learned over time

793
00:41:04,480 --> 00:41:07,280
is like everything else with God, right, it's protection it.

794
00:41:07,480 --> 00:41:10,079
Three months later I'd sit back and go, I'm so

795
00:41:10,239 --> 00:41:13,599
glad we did that because now three months, four months,

796
00:41:13,599 --> 00:41:17,360
five months later, I got it anyway, and God was

797
00:41:17,400 --> 00:41:19,920
just saying I didn't say no. I said, wait, and

798
00:41:20,079 --> 00:41:22,920
just say, what do you prioritize? What do you prioritize?

799
00:41:23,039 --> 00:41:25,039
Speaker 1: Love the guy? YEA, love Lord your God, with your

800
00:41:25,119 --> 00:41:27,159
entire heart, mind, soul and strength. Love your neighbors yourself.

801
00:41:27,239 --> 00:41:31,440
I love that. Thank you, Zach. There is one of

802
00:41:31,519 --> 00:41:34,079
the things I wanted to play for you. DC style.

803
00:41:34,119 --> 00:41:36,159
You talk about money and never having had enough.

804
00:41:37,039 --> 00:41:37,280
Speaker 2: You know.

805
00:41:37,360 --> 00:41:40,719
Speaker 1: Rick Scott, Yeah, senator from Florida. He was going to

806
00:41:40,760 --> 00:41:44,159
be governor at one point. And Rick Scott kind of

807
00:41:44,199 --> 00:41:49,239
plays the the hardcore Republican routes. He's the rock rib conservative,

808
00:41:49,280 --> 00:41:52,679
all those kind of cliches. He had the defense of

809
00:41:52,760 --> 00:41:55,639
something I thought you'd find interesting. He decided to go

810
00:41:55,679 --> 00:42:02,519
out and defend insider trading. Rick Scott has a nine

811
00:42:03,000 --> 00:42:05,079
figure net worth watches.

812
00:42:05,559 --> 00:42:10,079
Speaker 6: But somehow it's suspect because I made money. How many

813
00:42:10,119 --> 00:42:11,760
people in the artists, how many of you don't want

814
00:42:11,760 --> 00:42:15,519
to make money? Anybody want to be poor? I don't,

815
00:42:18,480 --> 00:42:20,320
right it. So this idea that we're going to attack

816
00:42:20,320 --> 00:42:25,920
people because they make money is raw, is absolutely raw.

817
00:42:26,400 --> 00:42:30,320
We should cherish all of our different backgrounds. Every one

818
00:42:30,360 --> 00:42:33,719
of us has a different background. I've got a business background.

819
00:42:34,599 --> 00:42:37,159
But what I was just accused of is making money

820
00:42:37,199 --> 00:42:40,000
is somehow I can't do. I can't be fair and

821
00:42:40,039 --> 00:42:43,960
do things the right way. So I think it's disgusting

822
00:42:43,960 --> 00:42:45,400
with this is what is going on here?

823
00:42:46,119 --> 00:42:49,639
Speaker 1: So we're talking about limiting insider trading. And Rick Scott's

824
00:42:49,639 --> 00:42:52,440
defense of this is that people don't want him to

825
00:42:52,440 --> 00:42:55,880
make money. I was trying to figure out nine figures.

826
00:42:55,920 --> 00:42:59,320
That's he's got a significant little basic capital work from Disney.

827
00:43:00,280 --> 00:43:03,440
It's over one hundred million dollars one hundred million bucks,

828
00:43:03,440 --> 00:43:05,239
and he needs more from insider trading.

829
00:43:06,239 --> 00:43:08,559
Speaker 3: So I'd look at it. I'd look at him and go, hey, buddy,

830
00:43:08,760 --> 00:43:12,320
go back to the business world. You chose to be

831
00:43:12,400 --> 00:43:16,559
a public servant and take the public money. With that

832
00:43:16,960 --> 00:43:20,840
comes certain responsibilities. For instance, you can't purge yourself in

833
00:43:20,880 --> 00:43:23,440
front of the Senate, can you. Okay, you can't. There's

834
00:43:23,480 --> 00:43:26,199
all these things you've got to do. You can't delete emails.

835
00:43:26,280 --> 00:43:28,719
I can you know another thing you can't do. You

836
00:43:28,760 --> 00:43:32,440
can't take public funds and use them to enrich themselves

837
00:43:32,639 --> 00:43:35,280
off of access to information that the public doesn't have.

838
00:43:35,639 --> 00:43:37,960
And Rick, don't sit there and play make this a

839
00:43:38,159 --> 00:43:42,320
moral playground. You are that. You are the virus that

840
00:43:42,360 --> 00:43:45,079
has infected the Republican Party and you're one of the

841
00:43:45,119 --> 00:43:47,239
reasons that we're at this place because you guys have

842
00:43:47,280 --> 00:43:50,239
been all mouth and no action for the better part

843
00:43:50,239 --> 00:43:53,079
of my adult life, and when it comes time to

844
00:43:53,119 --> 00:43:55,360
stand up and do the right thing, you issue some

845
00:43:55,760 --> 00:44:01,400
bs feigned disgust about protecting your ability to make money. Rick,

846
00:44:01,559 --> 00:44:03,880
you got over one hundred million, you could stick it

847
00:44:03,920 --> 00:44:06,079
in treasuries and make four and a half million a

848
00:44:06,119 --> 00:44:09,280
year off the interest. Give me a freaking break.

849
00:44:09,559 --> 00:44:11,599
Speaker 1: Yeah, it was sick. And the fact that he can

850
00:44:11,679 --> 00:44:14,280
do that and hold his head up high shows that

851
00:44:14,360 --> 00:44:17,559
he is not just the virus. He has become the virus.

852
00:44:17,559 --> 00:44:19,400
It's not just that he has it, He's become the

853
00:44:19,440 --> 00:44:20,639
actual virus in our system.

854
00:44:20,679 --> 00:44:22,679
Speaker 3: He talk about a guy that didn't make his chart

855
00:44:22,719 --> 00:44:24,400
of things he wouldn't do in DC.

856
00:44:24,559 --> 00:44:26,800
Speaker 1: Right, or if he did, he lost it. So when

857
00:44:26,840 --> 00:44:29,519
Kivin had stole it, it's just gone sorry about that.

858
00:44:29,639 --> 00:44:32,079
Speaker 3: They traded him nine figures for it, right, exactly.

859
00:44:32,280 --> 00:44:34,679
Speaker 1: Always good to have wise counsel for my friend, Zach Abraham,

860
00:44:34,760 --> 00:44:37,079
Chief Investmentster Bollet, couple of management. Thank you for coming on.

861
00:44:37,199 --> 00:44:39,400
Stay safe over in this separate country of Seattle, and

862
00:44:39,639 --> 00:44:41,599
hopeful those daycare businesses work out for you. That was

863
00:44:41,599 --> 00:44:44,920
a wise investment you suggested. I thought you were smoking

864
00:44:44,960 --> 00:44:47,639
something when you said go get the smality daycare fund.

865
00:44:47,679 --> 00:44:51,159
But that was a goodbye. It's a thousand turn time

866
00:44:51,199 --> 00:44:52,199
return and thank his act.

867
00:44:52,880 --> 00:44:55,599
Speaker 3: Yeah, talk about the investment opportunity there, we missed one there.

868
00:44:55,760 --> 00:44:58,159
Speaker 1: Yeah, that's right. This is the Todd Herbanshelby. He's gonna

869
00:44:58,159 --> 00:45:00,800
be well, Be strong, be kind, Please make every effort

870
00:45:00,840 --> 00:45:02,039
to walk in the light of Christ.