Speaker 1: So it's easy to read a headline like this about
the Saudi Arabians getting out of the petro dollar agreement
with the United States and to go, that's it. Now,
she all done. And it's fun to do that, right,
It's fun to say she all done because then you
get clicks. But is it the big deal that a
lot of people feel it is. We're gonna talking with
Zach Abraham, chief investment officer bull Or Capital Management about
that and about something he says, once seen, can't be unseen,
and that is how the international monetary system actually works.
Talk about this with the help of God Almighty. Thank you,
Lord for making this possible. And thank you too, you
for subscribing to our YouTube channel which is finally finally
having some life breathed into it. That is YouTube dot
Com slash at the Todd Herman Show.
Speaker 2: The Todd Herman Show is one disapprove by big pharma,
technocurrats and tyrants everywhere. No from the high mountains of
Free America. Here's the Emerald City exile God her Man.
Speaker 1: Today is a day the Lord has made in These
are the time so which God is the satur we
shall live. It's a wise Council day, we're in the
wise council shirts. That's what this is named. It sits
in a it's it's an especial sealed locker for days
that mister Abraham joins us, and then he decides when
he'll have his people. Okay, it make sure that the.
Speaker 3: Welcome back brother, oh man. Whenever I hear you make
jokes like that, there's two things that go through my mind. Hey,
I wish it. Yeah, I hope. I hope that at
one day I'm in a position to to be able
to afford such luxuries. And then the other idea in
my mind is if you ever hear me actually doing
something like that, slabby.
Speaker 1: Oh God, So Zach, there is this decoupling Saudi Arabia
has done apparently from this Petro dollar, and I got
text from people saying that's it. It's all over. So
what's actually going on?
Speaker 3: Okay, So there's some This is one of these tough
topics because usually people do not believe it or buy
into it or accept it for a very extended period
of time. Why that is, I do not know, Okay,
but I grew up in this environment. So my grandfather
wrote a very prominent investment newsletter, and he was very
involved in politics. As matter of fact, he was a
lead speech writer for multiple Republican candidates for president, and
he was the leader of the Western States of the
John Hopkins Society. And one of the things he would
go around doing is warning people in the seventies and
early eighties about the coming collapse of the dollar, right
and based on our soaring debt and all these other
kind of things. I remember finding a shoe box when
I was a kid in my parents, in my parents
closet that was full of nickels and quarters, you know,
just because we had to buy the real silver ones
because silver was going to go up a lot in price,
knock and stuff. So obviously, that collapse of the dollar
never came, and I had spent an an ordinate amount
of time because I was extraordinarily flustered with the fact
that the dollar was not dropping significantly post eight or nine,
right when they started quantitative easying. I remember sitting there going, Okay,
that's it's it's came over. And what I started to
realize is that I need to understand the system that
the dollar operates in, as opposed to just understanding the
dollar itself. As a concept or like any other piece
of money. Right, because the reasoning behind when people say
that there's something very visceral and something very attractive about
that logic, because it's very sound and it's very simple. Right.
If these people are producing all this money, and they're
printing all this money, and there's all this debt, the
currency trades on four X systems all around the world
and or for X exchanges all around the world, and
that will make the dollar less desired, right, and so
people will begin to sell their dollars to buy gold,
they will sell their dollars to buy euros, they will
sell their dollars to buy yen, because our currency is
less desirable. Okay, the vast majority of people getting the dollar,
and by vast majority, you know, I don't, but the
vast majority of people using the dollar or accessing the
dollar on a daily basis or not doing it because
of desirability, they're doing it because they have to.
Speaker 1: Okay, So let's pause there. This is so important to understand.
This is something that Microsoft didn't understand that it costs
them a whole probably six seven, eight years of growth
and value. They'd set up a system where people didn't
want Windows, but they had the habit that was what
was at work, that was what was in the office.
People had to have this. They didn't understand that there
was this change coming where that was no longer going
to be the case. The BYOD bring your own device.
Microsoft swore that would never happen up and down, no
one's ever going to let that in a corporate network.
No one's ever going to let people bring their own phones.
No one's ever going to let that happen.
Speaker 3: Wow.
Speaker 1: Right, And I remember meeting after meeting after meeting having
this preach to us that's never going to happen, and no,
it is going to happen, you guys. And I used
to say, wait, you guys are the ones who helped
define More's law, and you also defined this for battery capacity.
Do you don't think the same thing is for security
and usability? So I wanted just to make that point
that dollar is used by necessity, not choice, and yet
there's all these choices being set up like these other
dollars and other methods.
Speaker 3: Yeah. So the in the best way to think about
it is well, so first and foremost you've brought this
up to if we're gonna look at any currency or
any doll you know, any any debt scenario involving a
sovereign government or anything like that. We really have to
put things in context. And whether you like it or not,
we can talk about the aft balance sheet liabilities and
there are many, and your numbers are accurate as I
understand them, and I'm with you one hundred percent. But
if we play that game, we also have to calculate
the off balance sheet assets. Okay, So when we're thinking
about this, let's start thinking about what the Mississippi River
is worth. Right, Let's start thinking about okay, right, what
what what the Midwest is worth? And what And look,
I am not you guys if anybody's heard me talk
about this. In no way am I making excuses for
the reckless spending. But I'm saying we need we do
need to put it in context. And like I've said
many other times too, eventually the dollar will collapse, but
that will be a part policy decision.
Speaker 2: Right.
Speaker 3: So, yeah, it's not going to be this long, out
extended road to misery. And the reason why is because
when you look at America's asset base, whatever issue that
we are struggling from, we have the natural assets and
the natural capacity to overcome that if we start making
good policy decisions, right, And I think the simplest way
to put that is, we are the only net exporter
of energy and food. Now, ironically, if you look at
all of our policy decisions, they directly threaten that position
is being a lead producer or net exporter of energy
and food. Right, people are going, what do you mean, Zach,
And I'm like, if you see anybody making our energy
system less efficient or our grids less efficient, that threatens everything,
including our capacity and ability to generate power and our
ability to generate and grow food. Okay, so those are
all those are all intertwined. Right. But then getting back
to the dollar specifically, what what I started to look
at is I need to think bigger. There's something going
on here. This currency clearly isn't being valued on the
market like other assets that I'm used to dealing with. Right,
I've got to quit. There's a you know, I'm watching
the debt go up like this post eight oh nine,
and nothing's happening that starts buying bonds with printed money.
Nothing's happening, The dollar's not dropping. What's going on? So
that led me to really dig into things, and it
takes you all the way back. And I've mentioned this before,
but it takes you all the way back to post
World War two. So thank goodness. Back then, politicians learned
from mistakes, and they learned from the mistake they made
post World War One. After World War One, they effectively
laid the entire cost of the world of the war
onto the backs of the German people. Right, that was
like the that was the you know, that was the punishment,
right and and and look on the face of it,
that feels like the right thing to do, so you know,
I get it. Well, what ended up happening is that
decision led directly to Hitler going coming into power because
it led to the hyper inflation. Their economy was shot.
They had no ability to create and process goods that
would enable them to generate tax revenue which would enable
them to pay that down that debt. So Germany just
started printing the money. And that's where the term the
Vymar Republic came from, right, or that's what it was
called at that point, the Ymar Republic and the hyper
inflation that ensued in the twenties. So Hitler comes to
power in direct response to that currency degradation, and then
the world learned after World War Two, wait a second,
We've got to do this in a smarter way. So
they looked around and the United States was the only
major economy that was still functioning right, that still had
infrastructure in place, it still had the ability to produce things.
So that's when they developed the Marshall Plan. They said, Okay,
we're going to have the United States rebuild Europe on
the back of the dollar, so we don't hyperinflate anybody
else's currency. And then they're like, well what about the dollar,
and they go the dollar is going to be the
one currency that in order to trade across assets and internationally,
all trades in all goods must be settled in US dollars.
So if you wanted to transact globally, you had to
do it via US dollars, and to this day you
still do. And so what that does is it just
puts an automatic bid no matter what the government is
doing or how irrespons to it may be. You've got
people all over the world, unlike any other currency, that
are accessing the dollar every single day because they have to.
Speaker 1: Okay, right, this goes I don't want to interrupt your
flow because I'm learning a bunch. I am headed down
to seal Fit, you know this, And when I get
down there, I'm going to be around a group of
guys and we're going to be in a team. And
if God willing, I make it through that first twelve hours,
or rather when I do, that's my mindset. We're going
to spend forty eight, no fifty hours together, constantly exercising,
constantly moving, and I'm gonna come back with a garbage
bag full of clothes. This is gonna be the stinkiest
worst clothes that have ever existed. And people sometimes burn
their clothes after seal fit. I'm not doing that, man.
I'm gonna keep this stuff forever. After I thrive in
this and get to hear Mark Divine hopefully Coach Devine
say you are secure and celebrate with these guys and
go eat ten thousand calories since we're gonna burn a
thousand calories an hour. I'm gonna take that garbage bag
and I'm gonna bring it in here and I will
show you my sealfit clothes so you can see what
they look like. And of course it's gonna stink to
high heaven in here, except it won't.
Speaker 3: No.
Speaker 1: In fact, I'm gonna turn off the Eeden Pure oxy
Leaf two device. I'm gonna turn it off and let
that stuff marinate overnight so when we come in we
can absolutely smell it. And then we'll turn on the
Eden Pure oxy Leaf two and see how quickly it
destroys the scent. It does that by producing ozone in
the air. Those ozone molecule ER three molecules bond with
the bad smell, in this case, the unspeakable smell of
fifty hours of exercise and mud and sweat, et cetera. Blood,
and we'll see how quickly it all dissipates, because when
it bonds to the molecules that produce the bad smell,
it actually restructures their molecular structure and it's gone. They'll
save you a huge amount of money on the Eating
Pure Auxial Leave two device for your home, your Airbnb, brbo, dorms,
military barracks. Buy one, get one free, go to eatinpred
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buy one, get one free. Microsoft did things that would
end any other company. They shipped Windows and T the
networking member and everything was going to the network, right,
everything was going to be this connected network. They shipped
the first version of that without print drivers.
Speaker 3: So you was it just an oversight or what?
Speaker 1: Yeah, it's there's so many there's if you look at
the history of tech, there's so many things that should
have destroyed companies like I think his name is Mitch Kapoor.
He invented the spreadsheet, and Apple bought it from him. Spreadsheet.
I mean, imagine doing your job without a spreadsheet. There
was a time and that was all done on paper.
So Apple buys this from him, and this is why
people were buying the early Macintoshes. They would go to
the store. So there's the Microsoft, the Macintosh. Which one
do you want the one with the spreadsheet? Believe it
or not. I want the one with a spreadsheet.
Speaker 3: Oh okay small business owners. That's why almost all small business
owners had a mac.
Speaker 1: Right, yeah, I want the one with a spreadsheet. So
of course Microsoft is looking at this going wow, okay,
we need a spreadsheet, and their lawyers are going okay, well,
look there's a patent on this. And then the lawyers
went and dug through it like actually no, so Steve
Jobs team called I think it's Mitchkapour. I could be
forgetting the last name, but I think I met this
guy and asked one day about this. They called him, Hey, Mitch,
you know about the whole spreadsheet thing we bought from you,
could you go ahead and send the patent paperwork, the
what not patent? They didn't patent it, so the entire
thing could be just oh, okay, we'll do that too,
no patent micro This guy, he's a genius.
Speaker 3: Oh see, one of those guys who just I didn't
think about patenting it.
Speaker 1: I just forgot that part. And in the case of
the Microsoft fatig getting shipped, oh print drivers, that's right,
because this is all about networked printers. So they had
to come back and go, oh okay, hold on, let's
in our case that they had that momentum, all of
that didn't matter until it came to all of a
sudden the phones, and all of a sudden there was
this new market phones. Microsoft thought we could use our
momentum this and I'll never forget this conversation. I will
never to the day I die forget this conversation. I
was on a team that had an piece of IP
that note this. It was called a thumb driven user interface,
a zooming user interface. Thumb driven, so instead of a
stylus picking up a stylus and pointing at a device,
you'd use your thumb and the interface zoomed in and out.
And my job was to create a business model for this.
So I created something we called applets, so we called
them lifestyle centric applets. Some you bought, some that came
for free with advertisers. We had advertisers lined up for this.
We tested that software in the Silicon Valley testing lab
and at that time it was the only one that
ever came back with one hundred percent usability likability score.
And this had nothing to do with me, they said,
to do with a great genius named John san Giovanni.
And John and his team they designed this that comes
back with one hundred percent usability, meaning people enjoy using
it the second they picked it up. They could use it.
They didn't have to be told how to use it.
They enjoyed using it. We sat down with the guy
who ran mobile at the time, one of the chief
dudes who ran mobile. He said the following guys, congratulations
in this great piece of software. Hey, you know, I
really liked a business model. I think this could do
really well. But we're not going to adopt it. Why
because the start button defines Microsoft. It always will define Microsoft.
It's never going to change. And I was one of
the people who invented it, and I said to him,
are you open to feedback about that? He goes, yes,
but my decision has been made. Okay. I just want
to make sure I understand your intention. You are telling
me that people are going to continue to pull a
tiny little stylist out of their phone, hold it to
their face, and tap, tap, tap to get what they want,
versus one hand swiping through a zooming user interface. They
are because that's all we're going to ship. So, Zach,
you're giving us this unbelievably important lesson about the Weimar Republic.
It's this now necessity that organizations use the dollar. We
operate in this international monetary system. Are we not at
risk of the bitcoins or something else becoming that iPhone
that none of us think can happen? Or is it
the fact that we have a big, huge army and
nuclear weapons that means it's not going to happen.
Speaker 3: Well, I mean, look, it is going to happen, right,
it's it's a matter.
Speaker 1: So there is going to be a new device for payment.
Speaker 3: Yeah, well, like yes, and one of the primary drivers
of it will be imperialist, in my opinion, imperialistic type
actions that you currently see from our government like you
see and you crane right now, yep, right, meaning you
know that intervention. The fact that for this issue, I
don't like Putin and I'm not even like in Tucker
Carlson's camp on this. I think Putin is a complete scumbag.
I think it makes sense to have communication with him.
But I'm not saying this from some weird like pro
Russian far you know. I know there's and look, I'm
not saying that that's good or bad. Okay, I'm not
saying that that will end up being correct or not.
What I'm saying is, I'm if you take both extremes
of the Ukraine Russian issue, I'm pretty much right in
the middle, meaning I you know, I don't think that
we should be involved anywhere like we are. But anyway,
my point to this is I don't have an ax
grind against Putin. I'm also not an apologist, but when
you look at what them banning him effectively from the
international monetary system, you know everybody took notice and went, whoa,
it's it's It looks you you had this same kind
of impact on the international monetary and economic system that
you're seeing right now in New York regarding Trump's convictions. Right,
it's whoa. Okay, if we're going to do business in
New York, we need to develop another exchange in Texas,
we need to develop some contingency plans because you just
changed the rules, right, and the international response that has
been the same way. But so getting back to why
it has not happened yet is everybody needs to accept
and again I don't know why, but this usually takes
a while for people to wrap their head around. The
dollar isn't going anywhere, and it has nothing to do
excuse me, cod's thank you, sir. And it has nothing
to do with its inherent goodness or value. It has
to do with the fact that if you want to
trade goods or exchanges on an international basis, you've got
to do it in US dollars. So, unlike every other
currency out there in the world, the US dollar underlies
virtually every single trade, and then a process that has
still it may have peaked, it doesn't look like yet
in the data, but in a process that's been playing
out post eight oh nine. Guess what, and increasingly so,
guess what by a by a huge number? What currency
is the vast majority of debt in the world monetized? Then?
Speaker 2: Right?
Speaker 3: What? What? What? What do you think it is?
Speaker 1: According to a text message, I got it's gift cards
from Amazon. But this guy he's in Ethiopia and he
said he's like the son of a prince or something,
but he's having trouble with immigration. So I'm gonna yeah,
I didn't you.
Speaker 3: He got a hold of you too. I've got ten
I got ten mil in the mail company. Should be
running good. Yeah.
Speaker 1: I was starting to get a phone call with him,
but someone else answered, it's so weird.
Speaker 3: It's something like a call center. Weird.
Speaker 1: Are you gonna tell me the US dollar is? What
is monetized?
Speaker 3: Yeah? And so and so what so what does that do? Right?
Every month? What do you have to do with debt?
You got to pay a service fee or you got
to pay a fee, right, So that means the more
debt that is denominated out there in US dollars, the
more the demand for dollars increases. Now here's the case.
Speaker 1: This is it's we know okay, No, I'm starting to
understand something.
Speaker 4: This accident of history of World War two, of of
oh well, let's pay with dollars has allowed our country
to become evil and stupid and corrupt.
Speaker 1: And it's this is self feeding mechanism.
Speaker 3: Yes, and this is what I meant, and I and
I should have I should have dug into this deeper
because I thought I had communicated that. But this is
what I meant when I said, yeah, it's going to
be miserable, but I actually think a collapse in the
dollar would be good for the United States in the
long run. That's that's exactly what I meant. It's enabled
all of this, right, think of the think of the
international forays that we wouldn't have been able to get
ourselves into because we couldn't afford it. Right, if we
actually had to live on the budget, we didn't have
this luxury of this constant demand underlying our currency, it
would it would keep I mean, look, you've seen it
happen with Empires. What kept England England didn't just get
religion all of a sudden. What kept them from expanding
They ran out of money, right, so they weren't able
to continue that imperialist creep over the entire globe. And
we're not in that situation yet. And then here's the
other catch. Every time you have an economic catastrophe or
anything like that, when you're dealing with a fractional reserve
banking system, what asset underlies all other assets? Debt? Right?
Debt does So when the economy rolls over, what do
you get? You get debt defaults. Right, what does that mean?
Debts disappear? Well, what are you doing when debt disappears?
You're shrinking the monetary base. So this in a weird way.
So far now this is just a reflexive loop. It
will get reflexive on the other side of this at
some point that nobody knows, right, there will be a
moment where it breaks and it flips the other way.
Speaker 1: So people have to understand. You know what I hear
Zach saying, and you've said this before, but this is
such a more a cleaner explanation, more complete. I think
I've just let you talk and got out of your way.
That the US debt falling or the US dollar falling
could force us now no longer in the age of necessity,
could force us to have a sea change in how
we behave as a country because guess what, Mommy and
Daddy's dollars are gone. It's funny what happens once the
parents cut you off. Hey, so, mama, you know, a
little short done rent this month? And I just, you know,
maybe it's just no.
Speaker 3: My kids start cleaning the kitchen without being asked.
Speaker 1: Yeah, well, but I'm gonna like, I'll probably get kicked
out of my apartment. That's gonna be really hard. How
are you going to handle that? But maybe you could
give me two hundred No?
Speaker 3: Yeah, okay?
Speaker 1: And you realize now you start thinking weight? How much
blood can I sell? Every day? So I don't know,
did you have better experience? Maybe I could use a
different blood bank. They won't notice that my lips are white.
Are you okay?
Speaker 3: I'm fine.
Speaker 1: I wonder do assassination attempts of former presidents have any
sort of effect on the economy of a nation. What
about the sudden replacements of the guy who's the only
guy who can rescue us from literal orange Hitler is
suddenly the guy who cannot rescue us from little Orange Hitler.
But Orange Cam he can. The weekend that went up
to youth Camp, I'm standing there, minding my own business,
having a great privilege of watching God work in the
lives of these young men, these boys, and being led
by some young men by the way, and my friend
Kevin comes up to me and he thinks he means well,
and first he's just my old high school nickname, Herman. Hey, Herman.
They shot Trump? I was OK, yeah, yeah, yeah, and
he goes, no, seriously, they shot Prisent Trump. And at
that moment, I'm like, oh my gosh, camp is going
to be over. I'm going to have to go figure
out how to make a YouTube video. I'm gonna have
to respond to this very quickly. Where were you when
you learned about it.
Speaker 3: Let's see, I was on the golf course with a
mutual friend of ours, yes, and I'll just use a
first name but Mark, Yeah, and with my son, and
playing a spectacular golf course by the way. And at
first I went, you know, I I don't I don't
think a lot of people should envy managing money for
a living because it's really stressful. But the one thing
that is nice about is it really desensitized you too nonsense.
You know, you have to brush off so many things.
So my first thought was fake news whatever, you know.
And then I followed up and heard from a couple
other very reliable people. Uh. And this all probably happened
in the matter of two to three minutes. And at first,
you know, shot like, I'm sitting there going, okay, we
are is he dead? You know what's going on? But yeah,
I was on a golf course and and you know it,
it's rattling. I was alive when when Hinckley went after Reagan.
But you know, I was so young. I was probably
four or five years old at the time, so I
don't I you know, I don't really remember it. And
I just kind of remember sitting back in my golf
cart going, holy smokes. Just when you don't think things
can get any crazier or any more vicious, you know,
here we go. So yeah, that's that's what I was doing.
And then and then I think one of my first
thoughts I was like, cause I knew where you were
at the time. Yeah, and I remember because I texted you.
Probably not too long afterwards. I just thought, man, I
wonder if Todd notes, because I don't know if you
had service or anything like out up there.
Speaker 1: I had to go get onto the Wi Fi because
odther they don't want the boys having access to Wi Fi,
so they get the secret WiFi. And then, oh my gosh,
the technology gymnastics of trying to get videos to upload.
And please don't ever tell me Apple.
Speaker 3: Is slick tech.
Speaker 1: It's gross, it's horrible. It is I saw it in
Disfolder and here it is and everybody has access to it.
Then the folder disappears, and it was just this nightmare.
But I wanted to ask you. It seems to me
and maybe this is me just being completely naive, but
when we have let's see, the day before he's going
to be the official nominee, the Republican you know, the
Republican leader is nearly assassinated in what can only be
described to me at this point as a purposeful decision
to hey, just let one get through. There's just too much.
It's too much, Jeff Epstein, it's too much. Oh, the
cameras and the cell they broke, and the cameras outside
themsel broke, and oh we accidentally erased the nine one
month messages and oh, we forgot he was on suicide watch,
and oh, were there's sheets in there? How'd sheets get
in there? And when you see that, and then the
very next day, figure head Biden says, well, if it's
a bad cold, I guess I won't run. After the
failed attempt, that should probably have an effect on the
stock market because this goes full on. It's not banana
Republic anymore. This is like smashed banana salad republic. Yeah,
and it didn't.
Speaker 3: No, I remember, And this is kind of what I've
been telling people is politics matter a lot less than
you think in a scenario where the Federal Reserve and
the Federal governor engaged in what they do. And I
think one of the things that people need to remember
is remember Rome did not collapse because prices went down. Right,
Rome collapsed the prices went up, Okay, right the end
of every empire, and you can go we can be
talking about the British Empire, we can be talking about
you can go, you can go south. This is the
years back and trace this to Chinese dynasties. The number
one reason that you had dynastic turnover back in the
Chinese dynastic days was inflation currency collapse. And so, to
be clear, and I've been pretty vociferous about this, we're
not on the edge of a currency collapse because we're
still the clean We're winning a race by default. But
you know what's driven the primary driver of assets. I mean,
for first of all, you've had unbelievably profitable companies unlike
anything we've ever seen over the last thirteen to fourteen years,
so you can't look past that. But generally speaking, what's
driving asset prices is you know, our government spending six
and a half to seven percent deficits to GDP, right,
I mean, the stock market did pretty well during the
forties as well. In the middle of World War Two. Why,
I mean, the government was just printing money like nobody's business, right,
and for different reasons that was that was that was
actually more investment, right. They were investing in US being
the you know, the sovereign, the world reserve currency. They
were investing in US being the military superpower of the
next seventy eighty years. So it's not a good comp
meaning I think the reason we were spending what we
were spending when you consider our budgets at the time,
I think they're spending and deficits. We ran in World
War Two, we're more than justified. And it's precisely why
you build a surplus. We didn't have a surplus at
the time, we were coming out of the Great Depression.
But you know, debt is a percentage of GDP was
a fraction of what it is now. So but but
you know, at the end of the day, the other
thing is is that when you've had what we're in,
very undiscovered country right now as a country as far
as the financial markets are concerned. Because in our country,
you've averaged the recession every seven years. We haven't had
a proper recession since eight o nine, right, longest bull run,
biggest bull market run in history. And people buy stocks
because they go up, right, nobody's doing the fundamental analysis.
So literally, it's going to take you know, a luck
at a cold water, which could take the form of,
you know, increased political tensions. You know, the fear right now,
the average investor doesn't have a fear of losing money
in the market. They haven't. They have a fear of
not being invested enough in the big names. And until
that behavior shifts and you could see it starting to happen. Now,
I mean, I'm not making a call here. It's it's
a fool's errand to try to predict short term market
movements and things of that nature. But you know, I
think what you could have is you could have a
beginning of market starting to look at more normal things,
starting to pay attention to more fundamentals. But yeah, no,
it didn't blink. And quite honestly, it didn't surprise me
that it didn't blink.
Speaker 1: Then you see the transfer of power that fourteen million
people voted for the figurehead. He was the presumptive dominie.
And then it's oh yeah, never mind, that's.
Speaker 3: That's how they save democracy.
Speaker 1: Talk right right. A metaphor occurred to me as you
were speaking about the no real recession. There's a metaphor.
Let me think through this is just let me formulate
this in my mind. Your retirement account whenever you began
working and you set that up. I know you've probably
changed it over time, but did you modify it for
a world in which there are no rules? Did you
modify it for a time when a company's financial performance
does not matter in relation to its stock price? Did
you set it up for that? If not, you probably
need to remake your entire retirement plan. If you're five
years out, you better do it now, ten, maybe tomorrow, fifteen,
get to it before the end of the weekend, but
do it the right way. Or you can go to
a free live webinar from my friend Zach Abraham, chief
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and requires actively managing every portfolio, which can in fact
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how current events can affect your retirement account and how
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advantage of things like high high high inflation and actually
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have to register. Go to Know your Risk radio dot com.
It's coming up September twenty sixth at three thirty Pacific,
so it's just around the corner. Know your Risk Radio dot.
Speaker 5: Com investment advisory services offered through TRACK Financial loc and
SEC Registered Investment Advisor. The opinions expressed in this programmer
for general informational purposes only and are not intended to
provide specific advice or recommendations for any individual around any
specific security. Any references to performance of security so it
thought to be materially accurate, and actual performance may differ.
Investments involve risk and are not guaranteed. Past performance doesn't
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Speaker 1: All right, here's the help me understand this. Then I
want to get onto. Do you believe the secret Service
they tried their very very very very best dist and
your assessment of CAMI. If you know forest management, you
know you thin your forests. We just did this in
our timber is. We had a company come out who
knows how to you know, fell big trees and they've
they fell probably six of our trees and now I'm
busy turning them into firewood. They've sat the season, they've
they've been become seasoned and dried out. And those guys
that came out, they looked at our property and they said, okay,
over here, this is all defensible you've got a really
good defensible property. These are the trees that are dangerous.
These are the ones we'd trim the limbs on, because
limbs explode, These can land on your house on the
west coast. They stopped doing that. They wouldn't let the
fires start naturally, so when lightning came, they'd send in
the airplanes and stop the fires. They wouldn't manage the
forest naturally. They wouldn't let people harvest the forest naturally,
because we are meant to harvest forests. We live here,
We're designed to live here. We're designed to use wood
just as much as beavers are designed to eat it.
We're designed to use it to build. And all of
a sudden, you have these massive, massive fires like we've
never seen before. So I'm looking at the refusal to
allow natural results in an economy, a natural recession building
up tinder and there's this tinderbox economy. I mean, is
that a tortured metaphor.
Speaker 3: It's not a tortured metaphor, And I honestly don't think
it's been tortured enough. Meaning it's the it's the arrogance
and the hubris of man that thinks that they know
you know, we have to avoid recession. Recession isn't good
for people. And you're like, man, that's that's kind of
an odd observation to take, considering that we've previously managed
things in a way that we let these things run
their course, and we've developed the most dynamic, strongest economy
in the history of mankind. Yeah, so it's kind of
odd to sit there and say, yeah, but that approach
didn't work. Well, we need to do better, right, Like,
it's it's a strange thing, and especially when you consider
the when you consider the social costs, right, Like, meaning,
I guarantee you and actions not been the same as
they were in eight oh nine, and the FED and
the federal government would have played it differently since then.
I don't know exactly where we would be socially or culturally,
but I guarantee you we wouldn't be in the same place.
And what I mean by that is it would most
assuredly would be somewhat better.
Speaker 2: Right.
Speaker 3: And so everybody, you know, everybody thinks that they know,
you know, especially these economists, especially Ivy League economists, right,
they're the brightest guys in the room. Just to ask them,
so they know what's good and when you sit there
and you when it's always dessert, and like you said,
when it's when we're never thin out the herd. I mean,
it's a natural law. You see it everywhere. Right when
you let herds of animals go unchecked and not challenged,
you see disease and crazy things pop up, and mutations
and all kinds of things that aren't natural. Because you know,
you know, even if you're into Eastern religions, right the
Yin and yang, same idea. You get the good and
the bad. And you know, I think it's a scary thing.
And I think the other thing that you add into it.
You know, I was sitting I don't know if you
and I ever had a conversation about this, but I
was sitting there. I think my wife and I were
watching a sermon or something this weekend, and it just
a random idea popped into my head where I went,
you know, so you add all this overreaction and all
of this interference from government and government agencies, the Federal Reserve,
everything that we know that's gone on, quantitative easing, and
then you add on top of that the advent and
the birth of social media. Right like, so I started
thinking about social media, and I thought, you know, social
media really is the modern tower of battle. Yeah, right,
it's even crazy if you think about the metaphors. Right,
most of us get our social media information via satellite feed.
Maybe not directly to our phone, but inadvertently, right, it
gets course through it. Well, what was the tower of Babbel?
It was a tower that reached all the way up
to the sky. Kind of a creepy comparison, right, it
reached up to the sky. Well, what was up in
the sky? And man sat back and marveled at their ingenuity,
and then as a curse, they were broken into factions. Well,
what's happened to our culture? It's become so much more tribalistic.
We've been broken into factions to the point where we
can't even communicate anymore. The common language has been lost, right,
the diveloped common language and full You know, a whole
group of young people believe in communism is superior to capitalism.
You just sit back and you watch human behavior doesn't change.
And at every corner, at every turn, humans think they
can change it, that they can dictate it, that we
can get all flop and no substance. And there's no
consequence for it, you know, and here we are. It
was it was one of those things where I just
kept rolling that analogy through my head and I went,
Holy smokes. You know, social media and the Internet, the
combo of the two truly have been the advent of
the you know, it's the modern day tower of Babble,
and you know, and then you put put the political
response to all the different things and that they've done
economically and politically, and it's no wonder that this country
is in the place that it's app.
Speaker 1: So it's a wonderful way to put it to the
tier of babel that we don't even have a common,
of course, definition of truth. And this is much bemoans.
Let's just review. The figurehead is not dropping out. He
is firm. The morning that he dropped out, his co
chair of the campaign said, he's not dropping out. Let
me be clear, he's made a decision. He's running. Then
the figurehead drops out of sight. We have now some
verified reports from lux Vegas police that they were told
he had on medical medical emergency, so he was going
to be airlifted to back east immediately as soon as possible.
Then all of a sudden, here's Cammy Harrison Boom. She's
got fifty million, and now Biden's forgotten. You got Gavin Newsom.
He's not stepping up. Other Democrats are stepping up. No,
Cammy's the lady, a woman who garthered a massive one
percent of support in the Democrat primary last time. She
cackles when she talks. She is duplicitous and mean in scheming,
and she is now the great, great, great leader of
the Democrat Party, even with the figureheads still in office.
Does you guy who sits on board? You manage corporate boards?
If you came back from a weekend and you called
one of the companies you're invested in, Yeah, hey, is
is Joe Biden there? Who or the CEO? I'm sorry
you must have as confused. The CEO is Cambel Harris.
What whether there's a switch? No, it's always been Camy Harris.
Were talked about it. She was vice president of the company.
I don't know what you're talking about, dude. I think
you're stones like it's always been Cammy. She's been a
leader for us. Wait didn't she run our failed border initiative? What? No,
she was different borders are they're literally pretending the media
in accordinated effort. They're pretending she was not. The borders
are so as you look at this as a guy
who helps manage corporate boards, is any of it believable?
Speaker 3: Well, I mean the whole I mean, the whole thing
is ridiculous. The other part of it, though, that I
would tell people to be and look, I get plenty wrong.
So I'm not sitting here saying I'm in an oracle
or something like that. But you know, over a year ago,
I was saying on our show that I was like, listen,
I don't care what anybody says. The guy is not
going to be on the ticket. Come comes, you know,
come November. You said that, Yeah, And I mean I
just I just watching everybody, you know, and I'll get
to Kamala Harris, but watching everybody be so shocked by
his appearance and the way he performed in the debate,
you're kind of looking at him going, what what have
you been paying attention to? You know? So so you know,
I think they're scrambling, and or clearly they were scrambling.
You know, I haven't dug into it enough to really
comment on the whole coup thing. I don't don't really
think it was so much a coup as it was
all of a sudden that everybody realized and I don't
know what they were looking at, but we see this
dynamic happen all the time with human beings. Everybody realized
that the king was wearing no clothes, right, and you
know it was that it was really that simple, and
then I think they went into fire drill mode, and
it's just really ironic. It's just really ironic to me,
and I think it gets it one of the biggest
things that that is undercutting and endangering our country as
we know it right now, which is the you know,
the party that is out there to save democracy is
trumpeting and championing somebody that wasn't voted for and didn't
go through a primary process, right. And this is one
of the biggest problems that you see historically with human
beings in general, which is when when it becomes a
beat somebody at all costs, right, beat Trump Trump is
the threat to democracy. You gin everybody up like that,
you can justify anything if we're find fighting evil, right,
if we're fighting to evil, we can justify anything, right. So,
and that's one of the dangers to me of this
path that we've gone down as a country and having
the media, you know, all in on it and building
up Trump, this guy that everybody's known literally since he
was his late teen's, early twenties, to be this monster
that cuts against you know, forty years of public record
and forty years of reputation. Because now you've got a
voting populace that, in an effort to save democracy, is burning.
Speaker 1: It exactly exactly. And the fact that the Democrat voter
base hasn't said, oh, hey, wait, wait, do we get
to vote again? That's so remarkable to me. They don't
understand their own set. If they don't understand the super
delegate process, they don't understand that your votes as Democrats
grassroots mathematically is eliminated by superdelegates. That they have been
talking insurrection now for two and a half years. There's
people in prison, solitary confinement. There's grandma seventy two years old.
We're in the capital for ten minutes, took a selfie
set of prayer. They're in prison because of an insurrection
ay type thing. That Democrats haven't sit up to this
and said no. What this insticates to me is the
inertia of the evil machine is so strong that praise
God for turning President Trump's head away or actually towards
the shooter, saving his life. So we have one last
chance to save America. And if only the RNC wasn't
having people pray to false gods from the stage, then
I could feel fully happy. Did you see that?
Speaker 3: Yeah? No, I didn't see that. What did they say?
Speaker 1: Oh? No, they were. They were praying to Mohammed. They're
praying to the seekh God. Oh, because I don't know.
I seem to remember in the Bible God said something
about love of Me with your entire soul and mind,
and love your neighbors yourself, and don't pray to false gods.
But maybe I'm wrong, Maybe they took that part out.
Speaker 3: No, And this is why, you know, so much of
this goes back to me, to the whitewashing of God
out of American culture, and then also the complete breakdown
of our educational system. And why do I say it
relates to that, Because these people that are all caught
up in this and voting for they don't even really
understand what democracy is. They don't understand that we don't
even live in a democracy, that we never have. They
don't understand the basic tenets. They don't understand what got
them somewhere right. They don't understand any of this. They
don't understand how totalitarian, how totalitarianism begins. They don't understand
the genesis of authoritarianism. They don't understand that they are
literally leading the way with torches down a path away
from democracy in choice. And you know it's We were
sitting down as a family the other night watching a
video and I thought this pastor did an unbelievable job
confronting the issue of transgenderism and doing it in a
very christ like way of we love everybody, but it
doesn't mean that we're going to lie to you. It
doesn't mean that we're going to sacrifice the truth. You're
welcome at our church if you're a transgender person, but
it doesn't mean we have it because giving you falsehoods
feeling you full of lives isn't love.
Speaker 2: Right.
Speaker 3: Sometimes love hurts, and oftentimes the best love, that is
the most impactful and the best for us, hurts the most.
Speaker 2: Right.
Speaker 3: It's discipline, Like David said, I love your discipline, right,
and everything about our culture has said no, no, no, no,
We're good on our own. We don't need the discipline.
We just want the right and you know, we'll see
what you know, we'll see how that works out. I'm
not waiting with baited breath because you know, it's it's
a pretty it's a pretty predetermined outcome and a pretty
predetermined location of where we're headed. But no, nothing, But
as far as them doing this, it doesn't surprise me
at all. What I do think is pretty funny is
how everybody now is how the media jumps on the
train and everybody all come up. And I'm sitting there going, guys,
there isn't a fortune five hundred company in this country
that would hire her as a senior VP. I mean,
then we want to go into you know, go go
look at her track record in California. It's abysmal. She's
never been a part of anything successful. She's never been
elected to prominent office of any kind on a national stage. Right,
she didn't get elected to vice presidential pit. The other
one that cracks me up too is now rolling out
the racist tribes. Oh, everybody's referring to her as a
DEI higher and you're like, well, Joe Biden referred to
her as a de.
Speaker 4: I hire, right, he said his running mate had to
be a black female, Yeah right, because of.
Speaker 3: D And this is where and this is where, this
is where the breakdown of removing God properly taught, in
my opinion, religion and the breakdown of the educational system
really comes into play. And I'll talk with a buddy
about mine this the other day. Why is it that
so few people are so willing to lie and accept
lies to further their cause without ever taking a part
just this, Where is the intellectual curiosity that would require,
because it would it would do this to me where
you'd sit back and you'd go, you know, if I
got a cheat and lie to further my cause, maybe
I'm waiving the wrong flag.
Speaker 1: Right, Maybe my cause is the wrong cause. And I
would just I would present it this way to people
who doubt this D I think, I think this is
a great way to talk to friends about the attempted
assassination President Trump. Video evidence shows that those two women
were incapable of defending the prison United States funbling with
their guns, can't take them out of the holster, can't
put them into the holster, cowering, yelling what are we
doing here? Whereas the well trained, tall, robust male agents.
We're all over the president doing what they were to do.
Here's the scenario. It's the playground thing. We're picking people
for a sports team. We're playing football today, tackle football,
and we're all going to line up and we're gonna
pick one from this team and one from next. Here's
what's going to go. You can have your big brutes
and your fast runners, great catchers picked first, and after
that then it's just the leftovers. And maybe you're a
great mathematician, maybe you're a great at drama. Maybe you're
a great painter, maybe a great baseball player, but you
can't play football. Present this to your friends. There are
killers outside your home, then tend to come in and
murder your family. Here are ten people from whom you
can choose to help you. Five of them are tall, muscular, strong,
fast looking, competent looking men. Five of them are overweight, short,
visibly scared women. You choose, are you going to do
the playground thing. We'll take one from this side and
one from the other. No, you're going to use the
discernment God gave you to say. These may be sweet women,
they may be brilliant women, they may be strong women. Mentally,
they are not prepared to take my family out of
this house and to kill the killers. De Ei got
one man killed and it very nearly cost President trump
In's life. That's the way I look at it. But
they always appreciate you having you on, man.
Speaker 3: Yeah, no, always, you know, always good to be on
and thank you very much. And you know the other
the one last thought on that one, Todd, is if
anybody out there, look, we don't have to go coop
or whatever, but one hundred and forty yards when they
are fifteen, that's not a tough shot, not at all.
Speaker 1: And my shooting's become a joke. And I made it
like ten times standing up on a hill, not not
on a resting base. And my friends who took me
shooting will tell you, Todd can't shoot with the pistol anymore.
Don't even let him y. You need to learn this more.
Speaker 3: It's a tough no. It's a tough it's a tough
one to it's a tough tough one to justify because
I just I cannot imagine how that was an no.
Speaker 1: No, it clearly it clearly wasn't. My opinion, appreciate you coming.
My brothers starting to get break up on the internet signal.
And that's why I miss having in the studio. Also
because I get to sit next to you, Zach Abraham,
Chief Investment Officer, Bulwark Capital Management. Know your Risk radio
dot com. Know your Risk radio dot com. This is
a Todd herbershell. Please go, be well, be strong, be
kind to remember that God's invented real things. Human beings
have perverted them. So choose the real things of God,
beginning with the solid rock, the foundation, the Word of God.