1 00:00:00,560 --> 00:00:03,839 Speaker 1: Is it multi layer chess from President Trump? Or is 2 00:00:03,879 --> 00:00:07,320 it chaotic? Zach Abraham joins us on The Todd Herman Show. 3 00:00:07,360 --> 00:00:09,160 Courtesy of God Almighty. 4 00:00:11,839 --> 00:00:16,160 Speaker 2: The Todd Herman Show is one disapproved by big pharma 5 00:00:16,359 --> 00:00:23,519 technocrats in tyrone Sabrian ware from the high Mountains of 6 00:00:23,679 --> 00:00:31,480 Free America. Here's the Emerald City Exi Todd Herman. 7 00:00:38,439 --> 00:00:40,920 Speaker 1: Today is the day the Lord has made in. These 8 00:00:40,960 --> 00:00:43,079 are the times to which God has decided we should live. 9 00:00:43,159 --> 00:00:45,759 Joining me, my friend and brother, Chief investment Officer Bulwark 10 00:00:45,799 --> 00:00:48,759 Capital Management At Zach Abraham. Zach, welcome back to The 11 00:00:48,799 --> 00:00:49,560 Todd Herman Show. 12 00:00:50,320 --> 00:00:51,880 Speaker 3: Good to be back, Happy New Year. 13 00:00:51,840 --> 00:00:52,799 Speaker 1: Happy New Year to you, man. 14 00:00:52,840 --> 00:00:55,119 Speaker 4: It's been a while, I know, man, it feels like 15 00:00:55,119 --> 00:01:00,399 it's been a fortnite. A coon's age, Coon's age. That's 16 00:01:00,679 --> 00:01:01,439 a lie. 17 00:01:01,479 --> 00:01:04,920 Speaker 3: It's like a line from the Outlawed Josie Whales or 18 00:01:04,959 --> 00:01:05,280 something like that. 19 00:01:05,280 --> 00:01:08,079 Speaker 1: That's right. I'm always careful as a white dude saying 20 00:01:08,079 --> 00:01:08,959 anything about coons. 21 00:01:09,200 --> 00:01:10,040 Speaker 2: Just I'm. 22 00:01:11,439 --> 00:01:15,319 Speaker 1: Yeah, yeah, you know, I'm just because I'm saying. 23 00:01:16,040 --> 00:01:17,879 Speaker 3: Yeah, I hadn't he thought of that. I hadn't really 24 00:01:17,920 --> 00:01:19,640 thought of that angle. But you got to be cure. 25 00:01:19,879 --> 00:01:20,319 You know though. 26 00:01:20,400 --> 00:01:24,400 Speaker 4: The one thing I will say is is the crazy 27 00:01:24,719 --> 00:01:29,319 wokeness as it relates to mainstream it is significantly better 28 00:01:29,359 --> 00:01:29,719 than it was. 29 00:01:29,760 --> 00:01:31,280 Speaker 3: Five years ago. Yeah, you know what I mean. 30 00:01:31,680 --> 00:01:34,159 Speaker 4: Remember when you'd get called Somebody reminded me this the 31 00:01:34,239 --> 00:01:36,920 other day. It wasn't that long ago where I remember 32 00:01:37,000 --> 00:01:40,799 I said black and people are like, that's racist, or 33 00:01:40,840 --> 00:01:42,000 it's the color of my wife's skin. 34 00:01:44,000 --> 00:01:46,239 Speaker 1: Like do you remember the brown bag lunch thing? That 35 00:01:46,439 --> 00:01:48,879 there were brown bag lunch seminars at the city of 36 00:01:48,920 --> 00:01:50,719 Seattle and that was banned. 37 00:01:52,079 --> 00:01:54,239 Speaker 3: Well, I mean that's clearly racist, right because. 38 00:01:54,000 --> 00:01:56,159 Speaker 1: Brown bags and all that. And I know, and it 39 00:01:56,239 --> 00:01:57,959 has gotten better. And I think part of this is 40 00:01:58,000 --> 00:02:01,079 that credit cards expired. And I think the other thing is, man, 41 00:02:01,159 --> 00:02:04,480 there are so many serious things that people are dealing with, 42 00:02:04,719 --> 00:02:06,719 and I think that people have started to get kind 43 00:02:06,719 --> 00:02:09,800 of a handle on Maybe words aren't our problem, maybe 44 00:02:09,840 --> 00:02:12,840 some other things are problem. And I wanted to ask 45 00:02:12,919 --> 00:02:15,639 you because I've heard the reporting around this in every 46 00:02:15,800 --> 00:02:19,159 significant way. I don't think I've ever heard a more 47 00:02:19,199 --> 00:02:22,960 interesting argument then one thing. We didn't talk about this beforehand. 48 00:02:23,000 --> 00:02:25,319 I need you to explain this to me. President Trump 49 00:02:25,400 --> 00:02:29,400 has a plan to take two hundred billion bucks and 50 00:02:29,680 --> 00:02:36,159 purchase housing bonds and therefore lower housing prices. And I'm 51 00:02:36,199 --> 00:02:38,840 not getting the mental gymnastics on this one. I truly, 52 00:02:39,240 --> 00:02:41,599 I'm not doing this for the show's sake. Because I 53 00:02:41,719 --> 00:02:43,719 hear someone saying I'm going to purchase all the housing 54 00:02:43,800 --> 00:02:49,319 bonds with government money, injecting money into the housing market 55 00:02:49,439 --> 00:02:53,319 or the aftershoot of the market the bonds does that, then, 56 00:02:53,639 --> 00:02:55,759 how does that then say I will sell my house 57 00:02:56,120 --> 00:02:59,240 for less money, or house buyers myself for less money, 58 00:02:59,319 --> 00:03:01,080 or the market will go down. There has to be 59 00:03:01,080 --> 00:03:03,039 an argument for this. I'm at a loss. 60 00:03:04,439 --> 00:03:05,039 Speaker 3: There isn't one. 61 00:03:05,520 --> 00:03:07,199 Speaker 1: There isn't no no. 62 00:03:07,360 --> 00:03:11,080 Speaker 4: And again, I hope, I hope your listeners know this 63 00:03:11,199 --> 00:03:13,080 by now. I think it's one of the reasons that 64 00:03:13,159 --> 00:03:15,960 you and I get along really well, one of many. 65 00:03:16,319 --> 00:03:19,599 But I'm a fan of President Trump. I voted for 66 00:03:19,639 --> 00:03:21,599 him twice. But when he says something that I don't 67 00:03:21,639 --> 00:03:24,919 agree with, I'm gonna tell you that will do nothing 68 00:03:24,960 --> 00:03:29,360 to home prices. If anything, it could maybe have a slightly. 69 00:03:29,159 --> 00:03:32,000 Speaker 3: Upward push on home prices. And here's why. 70 00:03:32,879 --> 00:03:35,560 Speaker 4: Because banks have a certain amount of assets and a 71 00:03:35,599 --> 00:03:38,199 certain amount of cash, they got to deploy right, So 72 00:03:38,840 --> 00:03:41,599 if you buy, and that's the whole point of quantitative easing, 73 00:03:41,639 --> 00:03:43,479 if we go, what he's advocating for is a form 74 00:03:43,520 --> 00:03:46,240 of quantitative easing that's focused strictly on what we call mbs, 75 00:03:46,319 --> 00:03:47,439 or mortgage backed securities. 76 00:03:47,639 --> 00:03:49,759 Speaker 3: Yeah, and the FED bought a bunch of these. 77 00:03:50,000 --> 00:03:53,120 Speaker 4: The reason you buy them is because you replace that 78 00:03:53,280 --> 00:03:55,039 asset on a bank's balance sheet with cash. 79 00:03:55,400 --> 00:03:57,199 Speaker 3: And what does that bank need to do. They need 80 00:03:57,280 --> 00:03:57,879 to redeploy it. 81 00:03:58,240 --> 00:04:03,879 Speaker 4: Okay, so they might get a little more aggressive on rates, right, 82 00:04:03,960 --> 00:04:07,960 they might give somebody a little but if that brings 83 00:04:08,280 --> 00:04:10,039 rates down a little bit, that's going to push home 84 00:04:10,080 --> 00:04:10,599 prices up. 85 00:04:11,199 --> 00:04:13,879 Speaker 1: Right, it could be more aggressive, meaning, okay, we've got 86 00:04:13,960 --> 00:04:17,879 some cash. President Trump injected, took money from the taxpayers 87 00:04:17,959 --> 00:04:20,720 force us to purchase housing bonds even though we didn't 88 00:04:20,759 --> 00:04:25,879 want to. Necessarily, they can say, okay, so maybe instead 89 00:04:25,920 --> 00:04:28,279 of some of this and have great credit, maybe instead 90 00:04:28,279 --> 00:04:30,600 of seven and three quarters, we'll give you seven and 91 00:04:30,639 --> 00:04:33,199 a half. Yeah, and that's being aggressive. 92 00:04:34,079 --> 00:04:35,920 Speaker 4: Yeah, And I don't look, I don't think it's a 93 00:04:35,959 --> 00:04:38,199 horrible idea. I mean, you know, it's so funny to 94 00:04:38,240 --> 00:04:39,480 me that people are up in arms. 95 00:04:40,199 --> 00:04:42,720 Speaker 3: Oh, he can't. You're like the FED. 96 00:04:42,920 --> 00:04:46,199 Speaker 4: The FED splashes the pot for three times that all 97 00:04:46,319 --> 00:04:48,519 the time. And they're like, well, it's not the same, 98 00:04:48,600 --> 00:04:51,519 and I'm like, yes, it is the same thing. If 99 00:04:51,600 --> 00:04:54,079 I pull cash out of my right pocket, it isn't 100 00:04:54,120 --> 00:04:56,240 different when I pull it out of my left right Okay, 101 00:04:56,439 --> 00:04:59,199 like so whatever I mean it and cash was fungible, right, 102 00:04:59,279 --> 00:05:02,160 So in fact, it is the same, I honestly think, 103 00:05:02,199 --> 00:05:04,920 and this isn't a knock, right, President Trump plays a 104 00:05:04,959 --> 00:05:08,519 political game. I think this along with what he said 105 00:05:08,519 --> 00:05:12,160 about corporations buying homes, I don't think doing either one 106 00:05:12,240 --> 00:05:15,160 of them would have a deleterious impact. I also don't 107 00:05:15,160 --> 00:05:17,199 think that either one of those things will have a 108 00:05:17,279 --> 00:05:20,680 really beneficial impact. But I think that they're fairly low 109 00:05:20,800 --> 00:05:23,439 cost to things that wouldn't be a bad political move 110 00:05:23,519 --> 00:05:24,519 to do before midterms. 111 00:05:25,519 --> 00:05:26,319 Speaker 3: I think that's no. 112 00:05:26,439 --> 00:05:28,000 Speaker 1: Politically speaking, the optics are great. 113 00:05:28,639 --> 00:05:30,560 Speaker 4: Yeah, I think that's what it's all about, because, like 114 00:05:30,680 --> 00:05:33,600 you said, there's that will have no I mean you 115 00:05:33,680 --> 00:05:35,480 look at the US housing market. What are we talking 116 00:05:35,519 --> 00:05:39,040 about fifteen trillion in size? Right, So, like a purchase 117 00:05:39,079 --> 00:05:41,639 of two hundred billion dollars in MBS that doesn't do anything. 118 00:05:42,079 --> 00:05:45,720 Speaker 1: Okay, then the capping of this is an executive order, 119 00:05:46,160 --> 00:05:48,839 and our mutual friend Tom wrote analysis this. I wanted 120 00:05:48,839 --> 00:05:50,680 to share with you because I think Tom he's one 121 00:05:50,720 --> 00:05:53,839 of those guys who does investments on his own. He's 122 00:05:53,839 --> 00:05:56,120 an engineer and he thinks that way. And you remember 123 00:05:56,160 --> 00:05:58,240 when moving out to pizza, you guys end up gravitating 124 00:05:58,240 --> 00:06:01,600 towards each other and sharing shartstoles a whole stick at night. Yes, right, 125 00:06:01,639 --> 00:06:04,519 your drug sharts and the pizza pies and etc. So 126 00:06:05,199 --> 00:06:07,519 this is about President Trump's is going to use an 127 00:06:07,560 --> 00:06:11,240 executive order to stop Black Rock and Vanguard and others 128 00:06:11,279 --> 00:06:14,199 from buying up entire neighborhoods of single family homes. Tom Rights. 129 00:06:15,399 --> 00:06:17,600 We know Trump to make some pretty dramatic moves his potus, 130 00:06:17,680 --> 00:06:20,600 but this one really caught my attension. I'm conflicted. On 131 00:06:20,720 --> 00:06:23,279 one hand, he's talking about violating free market principles, which 132 00:06:23,319 --> 00:06:25,240 is perilous, But on the other hand, do we really 133 00:06:25,279 --> 00:06:27,160 have a free market when it comes to home affordability. 134 00:06:27,560 --> 00:06:29,199 I think I have something to say about this. Since 135 00:06:29,199 --> 00:06:32,160 I'm a city councilman, I'm asked to make quasi judicial 136 00:06:32,199 --> 00:06:35,319 decisions on land use. Inner cities. Cities throughout the country 137 00:06:35,360 --> 00:06:36,959 have been building codes which I had a layer of 138 00:06:37,000 --> 00:06:39,720 red tape and bureaucracy to building homes. This raises single 139 00:06:39,759 --> 00:06:43,600 family home costs uniformly. On the other hand, institutional investment 140 00:06:43,680 --> 00:06:46,519 companies buying up homes is a real thing. Blackrock is 141 00:06:46,560 --> 00:06:48,439 well known to do this. It's been reported in red 142 00:06:48,480 --> 00:06:51,000 Finn in a recent market analysis, and they target the 143 00:06:51,079 --> 00:06:54,279 lower tertiary, the most affordable of housing stock. That buy 144 00:06:54,360 --> 00:06:57,279 uphole swass within a municipality of neighborhood and then they 145 00:06:57,439 --> 00:07:01,639 literally sell to themselves, raising the market value of homes 146 00:07:01,680 --> 00:07:04,519 as a way of creating investment margin. Another effect is 147 00:07:04,560 --> 00:07:06,839 to reduce the supply of housing stock, which under free 148 00:07:06,879 --> 00:07:10,639 market principles, raises the prices of homes. Then municipalities like 149 00:07:10,720 --> 00:07:13,439 mine are encouraged to authorise more land development in order 150 00:07:13,519 --> 00:07:16,279 to raise the supply and obtainability. It's a vicious cycle 151 00:07:16,319 --> 00:07:18,399 that can destroy communities. I'm interested in hearing what other 152 00:07:18,600 --> 00:07:20,240 people have to think about this. I won't know what 153 00:07:20,360 --> 00:07:22,480 you think about that about that analysis, I didn't know 154 00:07:22,519 --> 00:07:25,399 they were selling homes to each other. They buy up neighborhoods. 155 00:07:25,480 --> 00:07:28,680 Speaker 3: What they do that that's so vicious. 156 00:07:29,439 --> 00:07:34,319 Speaker 4: Well, oh, it's Look, there's so many games and it's 157 00:07:34,800 --> 00:07:38,480 frustrating and somewhat disgusting to me because it is the 158 00:07:38,560 --> 00:07:40,959 ultimate form of window dressing. I mean, if you want 159 00:07:41,000 --> 00:07:43,959 to look at what another really good example of this 160 00:07:44,120 --> 00:07:46,959 is stock based comp stock based compensation, Yeah right. You 161 00:07:47,079 --> 00:07:49,600 look at how big stock based compensation has been in 162 00:07:49,600 --> 00:07:51,600 the tech world and they're, oh, they're giving people a 163 00:07:51,639 --> 00:07:52,240 skin in the game. 164 00:07:52,360 --> 00:07:52,839 Speaker 3: Yeah they are. 165 00:07:53,000 --> 00:07:55,279 Speaker 4: But the reason they do it is because when they 166 00:07:55,439 --> 00:07:58,480 pay you stock based comp they don't have to realize 167 00:07:58,560 --> 00:08:01,160 that as a cost. Right, that doesn't hit their cash Okay, 168 00:08:01,279 --> 00:08:04,439 it's just it dilutes shareholders, and then they turn around 169 00:08:04,480 --> 00:08:06,040 at the end of the year and announce a multi 170 00:08:06,040 --> 00:08:09,000 billion dollar stock buy back, so they keep the dilution 171 00:08:09,120 --> 00:08:11,319 at minimal. But then you turn around and look at 172 00:08:11,319 --> 00:08:15,360 it and just right, so they're not technically spending money 173 00:08:15,439 --> 00:08:18,519 on labor. They're spending money on stock buybacks, and so 174 00:08:18,639 --> 00:08:19,839 there's tax advantages to that. 175 00:08:20,000 --> 00:08:21,279 Speaker 3: And it's not bad. 176 00:08:21,439 --> 00:08:24,240 Speaker 4: It's there's nothing illegal with it. But what it does 177 00:08:24,600 --> 00:08:27,079 is it obvious skates what's really going on. It makes 178 00:08:27,120 --> 00:08:28,399 the things look better than they really are. 179 00:08:28,879 --> 00:08:29,560 Speaker 3: So painting the. 180 00:08:29,560 --> 00:08:31,800 Speaker 1: Tape so they're doing the same thing in the housing market. 181 00:08:31,839 --> 00:08:35,360 They're making Oh, except that does affect real people. That 182 00:08:35,519 --> 00:08:38,519 does seel there are like kids my daughter's age who 183 00:08:38,679 --> 00:08:39,840 may not own a home ever. 184 00:08:40,960 --> 00:08:44,000 Speaker 4: So look, any time we're getting into and I love 185 00:08:44,039 --> 00:08:47,159 the way Tom put it because he if you notice, 186 00:08:47,240 --> 00:08:50,360 like he addresses all of his concerns, but he's still 187 00:08:50,600 --> 00:08:54,360 he's it's conservative style of thinking, right, He's being logical. 188 00:08:54,399 --> 00:08:55,879 Speaker 3: He's sitting there going here are my concerns. 189 00:08:56,120 --> 00:08:58,799 Speaker 4: I'm not really sure what I think as opposed to oh, 190 00:08:58,919 --> 00:09:03,000 businesses are bad. So I've moved on this and I 191 00:09:03,159 --> 00:09:06,559 have not deep dived this, but here here's my thinking. 192 00:09:07,360 --> 00:09:09,039 When I first talked on this, I think I was 193 00:09:09,080 --> 00:09:11,000 a little bit off the cuff and came out a 194 00:09:11,039 --> 00:09:13,799 little bit hard, and I was like, oh, it's inappropriate 195 00:09:13,879 --> 00:09:17,240 for corporations in mind. Here's the problem where I'm at 196 00:09:17,360 --> 00:09:20,279 now is I do not believe that we should allow Now, 197 00:09:20,320 --> 00:09:24,279 how do you define corporation? I think that that's a 198 00:09:24,360 --> 00:09:26,639 big deal, right. I think a lot of time needs 199 00:09:26,679 --> 00:09:29,320 to be defined on how we define that. Are we 200 00:09:29,480 --> 00:09:32,919 talking about an escort that a husband and a wife own, 201 00:09:32,960 --> 00:09:34,279 that owned fourteen rental homes? 202 00:09:34,360 --> 00:09:36,279 Speaker 3: Right, that doesn't meet the cue. 203 00:09:36,320 --> 00:09:38,960 Speaker 4: To me, what I think when we're talking about more 204 00:09:39,120 --> 00:09:43,279 major corporations like Goldman, Sachs, black Rock Goldman, or Berkshire Hathaway, 205 00:09:44,360 --> 00:09:46,679 where I'm at is I do not believe that they 206 00:09:46,759 --> 00:09:48,879 should be able to buy existing construction. 207 00:09:49,320 --> 00:09:52,399 Speaker 3: But if they want to build their own, have at it. Okay, 208 00:09:52,519 --> 00:09:52,919 I like that. 209 00:09:53,840 --> 00:09:56,399 Speaker 4: And here's now I'm not sure on this, but this 210 00:09:56,519 --> 00:09:58,559 is where I'm at right now. Here's why I think 211 00:09:58,639 --> 00:10:03,799 that if think about free markets, if you're building a 212 00:10:03,879 --> 00:10:06,440 home for the purposes of renting it out, the person 213 00:10:06,519 --> 00:10:08,879 that's going to rent that home out to you or 214 00:10:08,960 --> 00:10:10,879 rent rent that home from you is a person that 215 00:10:11,000 --> 00:10:13,360 can afford the rent and actually the payment of a 216 00:10:13,480 --> 00:10:16,559 nice home, but probably aren't in the financial place to 217 00:10:16,600 --> 00:10:19,399 get it. That's a wonderful service you're providing them. You're 218 00:10:19,440 --> 00:10:22,080 providing them. Both parties are winning, right, You're giving them 219 00:10:22,279 --> 00:10:25,440 thirty two hundred square feet four bedrooms for their three kids. 220 00:10:26,039 --> 00:10:29,200 Everybody's winning. What you don't want to do is you 221 00:10:29,240 --> 00:10:31,960 don't want to see big corporations come in and take 222 00:10:32,039 --> 00:10:36,480 over neighborhoods, right, and all the problems that can come 223 00:10:37,159 --> 00:10:39,799 or that can happen. You could also, and I think 224 00:10:39,840 --> 00:10:42,720 that it's a big stretch, but you could also make 225 00:10:42,799 --> 00:10:46,039 the argument by buying existing construction, they could start cornering 226 00:10:46,120 --> 00:10:50,120 certain markets and dictating too much, if you call if 227 00:10:50,159 --> 00:10:52,639 you confine them strictly to new construction, I don't think 228 00:10:52,720 --> 00:10:54,720 that's going to pose any of those issues. 229 00:10:55,759 --> 00:10:57,159 Speaker 1: I would go with that. I would go with that 230 00:10:57,279 --> 00:10:59,639 because black Rock buying up neighborhoods. I've talked about this 231 00:11:00,200 --> 00:11:04,879 vertical and horizontal marketing. So they buy the integration, they 232 00:11:04,919 --> 00:11:07,039 buy up a neighborhoods, yep. Then they buy up the 233 00:11:07,120 --> 00:11:10,039 cable service, Then they buy up the delivery service. Then 234 00:11:10,080 --> 00:11:13,519 they own the airspace above it for drone deliveries right right, 235 00:11:13,639 --> 00:11:15,840 and they just now and then they are now they're 236 00:11:15,840 --> 00:11:19,440 going to create private roads and access and the smart 237 00:11:19,480 --> 00:11:21,360 cities are coming all the signs of that. I don't 238 00:11:21,360 --> 00:11:22,679 know if you saw this. This is a great big 239 00:11:22,759 --> 00:11:24,240 I told you so. I've been saying this for years. 240 00:11:24,679 --> 00:11:28,240 In Massachusetts, they're floating a bill to limit how far 241 00:11:28,279 --> 00:11:31,559 you can drive your own personal car per day. So 242 00:11:31,960 --> 00:11:34,879 this would clearly be about we need you all to 243 00:11:35,000 --> 00:11:37,240 move within the beautiful city corps. There's one other thing 244 00:11:37,279 --> 00:11:38,919 I want to talk with you about, and this is 245 00:11:39,000 --> 00:11:41,799 a big one because there's a huge debate on this 246 00:11:42,200 --> 00:11:45,360 and it has to do with President Trump and Jerry 247 00:11:45,399 --> 00:11:49,240 Powell and Jerome Powell put out an unprecedented statement. I 248 00:11:49,320 --> 00:11:53,519 heard someone say that Jerome Powell is the most ethical 249 00:11:53,679 --> 00:11:58,919 public servants today, and I don't know how you determine that. 250 00:11:59,039 --> 00:12:01,720 In that we aren't allowed to into Jerome Powell's performance. 251 00:12:02,320 --> 00:12:04,200 So we'll talk about that in a second with Zach 252 00:12:04,240 --> 00:12:10,519 Abraham over the weekends. The man who brought me to 253 00:12:10,639 --> 00:12:14,559 Christ ultimately started the process of bringing me to Christ. 254 00:12:14,639 --> 00:12:17,279 It was the first boy who ever told me he 255 00:12:17,399 --> 00:12:19,759 loved me, first time I ever had a brother say 256 00:12:19,799 --> 00:12:24,879 that to me. That happens in the year before my 257 00:12:25,000 --> 00:12:28,480 senior year because he was visiting me. We had been 258 00:12:28,720 --> 00:12:33,320 best friends since eighth grade. He had moved away to 259 00:12:33,480 --> 00:12:35,559 Seattle and he'd come to visit and he gave me 260 00:12:35,559 --> 00:12:37,759 a hug and said, hey, I love you. And I 261 00:12:37,799 --> 00:12:40,840 remember thinking, wait, does this mean that you're gay? And 262 00:12:41,039 --> 00:12:44,559 it didn't. He's got number of kids, and does it 263 00:12:44,639 --> 00:12:46,240 mean I'm gay if I said I love you back 264 00:12:46,279 --> 00:12:49,200 and it didn't because I'm not not same sex attracted, 265 00:12:49,240 --> 00:12:50,759 but it was that sort of thing in the eighties, 266 00:12:50,919 --> 00:12:56,279 like wow, okay, that's kind of weird. This is now 267 00:12:56,679 --> 00:13:00,679 a friendship that's going to go on for far more 268 00:13:00,759 --> 00:13:04,799 than half our lives. He's having some significant health issues, 269 00:13:05,919 --> 00:13:09,600 and what do you think I did? So because of 270 00:13:09,679 --> 00:13:11,919 what the health issues are related to the immune system. 271 00:13:12,279 --> 00:13:16,000 I immediately convinced him to please write up your history. 272 00:13:16,039 --> 00:13:18,279 It's seven pages what he's gone through. He's been to 273 00:13:19,240 --> 00:13:22,120 naturopathic mds, He's been to China to go consult their 274 00:13:22,200 --> 00:13:26,799 natural paths. He's been to doctors here, immunological specialists, et cetera. 275 00:13:27,200 --> 00:13:30,120 I talked to Steve Anderson at RENEW and they have 276 00:13:30,279 --> 00:13:35,039 set people's reset in people's entire immune systems. So if 277 00:13:35,080 --> 00:13:38,559 I will do this for the dearest friend and brother 278 00:13:38,720 --> 00:13:42,120 I've ever had, and it will personally make that introduction, 279 00:13:43,039 --> 00:13:46,919 do you think I don't believe in renew if you 280 00:13:47,200 --> 00:13:51,159 have immunological issues. Sometimes he's manifesting these rashes that will 281 00:13:51,240 --> 00:13:53,879 not go away, or this incredible pain that will not 282 00:13:53,960 --> 00:13:56,840 go away. Sometimes it's his headaches or you can't eat foods. 283 00:13:58,639 --> 00:14:00,960 This is very common and what the hads now with 284 00:14:01,039 --> 00:14:03,440 the stem cell process because It's not just the world 285 00:14:03,480 --> 00:14:06,559 class stem cells, it's the entire process and this chain 286 00:14:06,600 --> 00:14:09,080 of study they've done down there. They have reset immune 287 00:14:09,080 --> 00:14:11,519 systems that people go down and they come back and 288 00:14:11,600 --> 00:14:14,600 they can eat all the foods again. The rashes are gone, 289 00:14:16,159 --> 00:14:18,440 the headaches are gone. So if you know people who 290 00:14:18,440 --> 00:14:20,480 are suffering from this, or you yourself are reach out 291 00:14:20,519 --> 00:14:23,000 to renew it's our e n U e dot healthcare. 292 00:14:23,080 --> 00:14:25,320 Renew dot Healthcare. Please tell them you're part of the 293 00:14:25,320 --> 00:14:28,440 Todd Herman Show family. It's renew r E n ue 294 00:14:29,360 --> 00:14:33,320 dot Healthcare. So Zach Jerry Pow is that kind. 295 00:14:33,159 --> 00:14:37,759 Speaker 3: Of call him Jerry Yeah, j Powell Jay, you know 296 00:14:38,639 --> 00:14:39,200 something like that. 297 00:14:39,639 --> 00:14:42,879 Speaker 1: So JPO uh Jpo came out and put out what 298 00:14:42,960 --> 00:14:45,759 I call a sad face video. Here's jer Own Powell. 299 00:14:46,679 --> 00:14:48,879 He is not a king, mind you. He is talking 300 00:14:49,000 --> 00:14:52,600 democracy because he's into the democracy. Good evening. 301 00:14:54,039 --> 00:14:57,159 Speaker 5: On Friday, the Department of Justice served the Federal Reserve 302 00:14:57,240 --> 00:15:01,159 with grand jury subpoenas threatening a criminal and indictment related 303 00:15:01,200 --> 00:15:04,159 to my testimony before the Senate Banking Committee last June. 304 00:15:06,080 --> 00:15:09,919 That testimony concerned, in part, a multi year project to 305 00:15:10,039 --> 00:15:15,200 renovate historic Federal Reserve office buildings. I have deep respect 306 00:15:15,279 --> 00:15:19,639 for the rule of law and for accountability. No one, 307 00:15:20,080 --> 00:15:22,600 certainly not the chair of the Federal Reserve is above 308 00:15:22,679 --> 00:15:26,240 the law. But this unprecedented action should be seen in 309 00:15:26,320 --> 00:15:30,519 the broader context of the administration's threats and ongoing pressure. Right. 310 00:15:30,600 --> 00:15:33,559 Speaker 1: So he goes on to sad face that this is 311 00:15:33,639 --> 00:15:36,200 trying to pressure him to change interest rates, et cetera. 312 00:15:36,600 --> 00:15:40,320 It's an unprecedented attack against democracy. I can't get past 313 00:15:40,679 --> 00:15:45,840 Jerry Powell JPOW saying that he is not above the law, 314 00:15:46,320 --> 00:15:49,399 no one is, and that he's in favor of democracy 315 00:15:49,519 --> 00:15:52,480 and accountability. And I'm listening to this, and then I 316 00:15:52,559 --> 00:15:54,840 get comments from people saying this is the most ethical 317 00:15:54,879 --> 00:15:57,879 public servant working today, and I want to know how 318 00:15:57,960 --> 00:16:01,919 they know that. Did you have any similar response to 319 00:16:02,279 --> 00:16:07,279 this dude saying he's into accountability in transparency, et cetera. Well, no, 320 00:16:07,639 --> 00:16:13,159 and no you didn't have that response? Well I yes, 321 00:16:13,279 --> 00:16:13,519 and no. 322 00:16:13,799 --> 00:16:17,720 Speaker 4: I'm more like you where I'm confused. I saw comments 323 00:16:17,919 --> 00:16:20,480 that were similar to that. Yeah, and I was just 324 00:16:20,600 --> 00:16:23,559 confused on the face of it. I went, guys, since 325 00:16:23,600 --> 00:16:26,320 when did virtue signaling become real morality? I mean, like, 326 00:16:26,639 --> 00:16:29,399 I'm not saying he's not the most moral public SERI. 327 00:16:29,639 --> 00:16:31,879 But because he came out and gave a scripted speech, 328 00:16:32,000 --> 00:16:33,120 that means he is. No. 329 00:16:33,279 --> 00:16:36,320 Speaker 3: What that speech ensures is that he's. 330 00:16:36,240 --> 00:16:39,120 Speaker 4: Still accepted to all the best cocktail parties on both 331 00:16:39,120 --> 00:16:42,039 sides of the aisle. That's all that speech ensured. Now, 332 00:16:42,559 --> 00:16:45,159 if you want to get into does he have a point? 333 00:16:46,600 --> 00:16:52,039 Okay again, fan of you know supporter President Trump, I 334 00:16:52,120 --> 00:16:57,440 do think he's got a point meaning what he's saying. Look, 335 00:16:57,519 --> 00:17:01,159 the reason he's going after Powell is Powell won't lower rates. 336 00:17:03,240 --> 00:17:05,799 It's not because Paw. Look I don't I don't know 337 00:17:06,000 --> 00:17:08,240 enough and I haven't gone through and audited it. I 338 00:17:08,680 --> 00:17:11,599 do not think Powell and the f o MC are 339 00:17:12,359 --> 00:17:15,880 rigging the system to get extra spending on renovations to 340 00:17:15,960 --> 00:17:16,640 FED buildings. 341 00:17:17,200 --> 00:17:19,240 Speaker 3: And I just, I just I could be wrong. I 342 00:17:19,279 --> 00:17:21,599 could be wrong, and I will issue with me at 343 00:17:21,640 --> 00:17:22,440 may a couple if I am. 344 00:17:22,880 --> 00:17:24,880 Speaker 4: But this, at this kind of feels a lot to me, 345 00:17:25,119 --> 00:17:28,240 like and I don't disagree with this, but this feels 346 00:17:28,240 --> 00:17:31,640 a lot to me, like making Venezuela about Fenno, right, 347 00:17:31,759 --> 00:17:32,720 Like does. 348 00:17:33,079 --> 00:17:34,400 Speaker 3: Do drugs go through Venezuela? 349 00:17:34,519 --> 00:17:34,680 Speaker 2: Yes? 350 00:17:35,200 --> 00:17:36,160 Speaker 3: Is that why we're down there. 351 00:17:36,279 --> 00:17:38,400 Speaker 4: No, we're down there because of the oil and the 352 00:17:38,480 --> 00:17:40,880 power that it gives Venezuela and the ability to sway 353 00:17:41,000 --> 00:17:42,519 geopolitical issues and. 354 00:17:42,680 --> 00:17:45,119 Speaker 3: And and to Trump's credit, he's also said that too. 355 00:17:45,240 --> 00:17:48,839 Speaker 4: So I, unlike any other president, right, when we when 356 00:17:48,920 --> 00:17:52,640 we ever go into another country, there's always a humanitarian 357 00:17:52,680 --> 00:17:53,279 reason why. 358 00:17:53,640 --> 00:17:56,200 Speaker 1: Right, And like always, it's always colored that way. There's 359 00:17:56,200 --> 00:17:58,400 a lot we could talk about with Venezuela. There's the 360 00:17:58,519 --> 00:18:04,319 China cooperation, there's the Russian cooperation. Their radar systems failed Cuba. Like, 361 00:18:04,640 --> 00:18:07,759 we need to remember that China has promised to be 362 00:18:08,039 --> 00:18:11,240 the sole superpower. They have promised to be the number 363 00:18:11,279 --> 00:18:15,240 one purveyor of chemical and biological weapons. They do speak 364 00:18:15,240 --> 00:18:18,079 the language of racial supremacy, just as everybody remember that. 365 00:18:18,559 --> 00:18:21,519 There are reasons to say we'd actually like to secure 366 00:18:21,559 --> 00:18:24,799 the Venezuelan oil for ourselves because we see some chips 367 00:18:24,839 --> 00:18:28,200 adding up against us, and I don't God forbid we 368 00:18:28,400 --> 00:18:31,400 go take Greenland by military for US. Guys. If that happens, 369 00:18:31,480 --> 00:18:35,880 I'm out. Yeah, if we attack Greenland, count me out, 370 00:18:36,559 --> 00:18:40,200 count me out of Megaalands. I'm done. There's ways to 371 00:18:40,279 --> 00:18:44,000 approach this attacking Greenland. No on this topic. Let me 372 00:18:44,119 --> 00:18:48,559 go back through with what I'm watching here. He probably 373 00:18:48,640 --> 00:18:52,440 perjured himself in front of Congress. Okay, there's a ton 374 00:18:52,519 --> 00:18:56,039 of problems with his testimony around this build number one. 375 00:18:56,160 --> 00:18:59,119 Where is the budget? Well, we don't have to show 376 00:18:59,160 --> 00:19:03,000 that to you. Where the federals? Okay, we'd like to 377 00:19:03,119 --> 00:19:06,440 understand the vendor process. That's not supoon need to show you. 378 00:19:08,119 --> 00:19:11,079 I don't like the fact that that entity has so 379 00:19:11,240 --> 00:19:14,480 much power and no boss and no one running it, 380 00:19:14,920 --> 00:19:17,920 and that this guy speaks the language of democracy and accountability. 381 00:19:18,279 --> 00:19:20,920 And I'm sorry, I would like to see this audited. 382 00:19:21,039 --> 00:19:23,839 I would love to see Jerry Powell or JPO sit 383 00:19:23,920 --> 00:19:26,079 in front of some people who could ask them some questions. Hey, 384 00:19:26,119 --> 00:19:30,000 while you're here, why can't we audit you? 385 00:19:30,839 --> 00:19:32,519 Speaker 3: Hey, now, hold on, scond. 386 00:19:33,519 --> 00:19:36,440 Speaker 4: If that's what this is for, If this is the 387 00:19:36,519 --> 00:19:39,319 camel getting it under its nose, underneath the tent in 388 00:19:39,519 --> 00:19:42,039 order to begin auditing the FED, then I am in. 389 00:19:42,359 --> 00:19:44,799 Speaker 3: Full support of that, full support of that. 390 00:19:45,119 --> 00:19:49,000 Speaker 4: My whole thing is, do I think that they're misappropriating 391 00:19:49,160 --> 00:19:52,839 funds on a FED building build out? I don't, Okay, 392 00:19:53,599 --> 00:19:57,000 do I think what you just said and the inability 393 00:19:57,119 --> 00:19:59,480 for us to verify that as a problem. 394 00:19:59,640 --> 00:20:03,200 Speaker 3: As sol lowly, he look, we one of the. 395 00:20:03,240 --> 00:20:05,599 Speaker 4: Things we talk about. I think everybody's familiar with that 396 00:20:05,680 --> 00:20:08,079 two trillion dollars that's missing. It's out of the budget 397 00:20:08,079 --> 00:20:09,559 at some point over the last twenty five year or 398 00:20:09,559 --> 00:20:10,480 thirty years something like that. 399 00:20:10,759 --> 00:20:10,960 Speaker 2: Yeah. 400 00:20:11,119 --> 00:20:14,480 Speaker 4: Right, Think about all of the things that we have 401 00:20:14,839 --> 00:20:17,799 or haven't funded with dark pools, you know, stuff that 402 00:20:17,839 --> 00:20:21,920 we've funded. Like you think about like, uh, the the uh, 403 00:20:22,519 --> 00:20:25,359 the Sandinistas down there and in Nicaragul when we were 404 00:20:25,400 --> 00:20:30,440 doing that, right, Uh, how like think about how easy 405 00:20:30,680 --> 00:20:33,480 it would be for an entity that isn't audit and 406 00:20:33,599 --> 00:20:37,200 it has no oversight or no regulator and has the 407 00:20:37,319 --> 00:20:41,559 ability to print the world's reserve currency with virtually no restrictions. 408 00:20:42,160 --> 00:20:46,440 Speaker 3: Like meaning, I'm not a so my adult. 409 00:20:46,160 --> 00:20:48,759 Speaker 4: Brain tells me that the likelihood that funds have not 410 00:20:48,920 --> 00:20:52,960 been used for untoward things have got to be like zero. 411 00:20:53,160 --> 00:20:55,519 Speaker 3: Okay, But I'm not even accusing them of that. 412 00:20:56,079 --> 00:20:58,240 Speaker 4: I'm sitting there saying the fact that we have no 413 00:20:58,519 --> 00:21:01,839 ability to oversee that, or to verify that, or to 414 00:21:01,920 --> 00:21:04,240 check it. I mean, that's like leaving your front door 415 00:21:04,319 --> 00:21:07,039 open with a neon sign above and it's saying Robney. 416 00:21:06,799 --> 00:21:09,480 Speaker 1: This is exactly what I'm saying. And look I'm looking 417 00:21:09,519 --> 00:21:12,240 at this is a grand jury Sypenis. It's not congressional testimony. 418 00:21:12,640 --> 00:21:14,319 But if he gets in front of a grand jury, 419 00:21:14,400 --> 00:21:17,319 and he lies in front of a grand jury, now 420 00:21:18,079 --> 00:21:21,519 Jerry Powell has his significant problem, then there's some leverage 421 00:21:21,599 --> 00:21:23,720 on this. Now is it to get interest rate? 422 00:21:23,799 --> 00:21:23,960 Speaker 2: Sure? 423 00:21:24,039 --> 00:21:26,319 Speaker 1: President Trump's trying to blackmail him the way they tried 424 00:21:26,359 --> 00:21:28,519 to blackmail him, And don't tell me Jerry Powell wasn't 425 00:21:28,559 --> 00:21:31,960 part of that. Jerry Powell played with interest rates when 426 00:21:32,000 --> 00:21:34,440 it helped Biden and the people who ran Joe Biden. 427 00:21:34,759 --> 00:21:36,599 They lowered interest rates. They knew what they were doing. 428 00:21:37,000 --> 00:21:39,400 Jerry Powell's playing politics on this as well. He could 429 00:21:39,400 --> 00:21:41,640 have lowered interest rates. He has the power to not 430 00:21:41,680 --> 00:21:44,720 because he's not auditable. If this is what you said, 431 00:21:44,799 --> 00:21:48,480 the camel getting the toe under the tent and the 432 00:21:48,559 --> 00:21:51,279 nose of the tent, I am in because I would 433 00:21:51,359 --> 00:21:53,359 love to see the questions on this. It is an 434 00:21:53,480 --> 00:21:57,839 obscenity that these people get to invent debt, hand it 435 00:21:57,920 --> 00:22:01,000 to us and say pay us. That's abs and what 436 00:22:01,119 --> 00:22:04,160 they've done with this, particularly the COVID was so obscene. 437 00:22:04,720 --> 00:22:07,799 That has to change. It has to be audited. And 438 00:22:08,519 --> 00:22:11,400 furthermore on this, look at USAID and all the things 439 00:22:11,480 --> 00:22:13,400 we've learned about that money laundering and that whole thing 440 00:22:13,440 --> 00:22:15,279 that came up. If it's too dirty for the CIA, 441 00:22:15,440 --> 00:22:18,799 give it to USAID. Tell me an entity that gets 442 00:22:18,880 --> 00:22:22,599 to conjure debt and force the American people to pay 443 00:22:22,640 --> 00:22:25,319 it back isn't doing the same thing. Man, If you're 444 00:22:25,359 --> 00:22:28,839 the CIA, I'd be I'd have I'd have offices all 445 00:22:29,079 --> 00:22:31,720 over the Federal Reserve, I'd have everybody on my payroll, 446 00:22:31,920 --> 00:22:34,359 and i'd have everybody hung up on a blackmail thing. 447 00:22:34,559 --> 00:22:36,599 Everybody I'd own and welle. 448 00:22:36,680 --> 00:22:39,119 Speaker 3: Here's the problem I've got with it is what are 449 00:22:39,160 --> 00:22:42,359 the chances that that isn't happening? Right again? I don't 450 00:22:42,359 --> 00:22:43,720 want to be a conspiracy theorist. 451 00:22:43,880 --> 00:22:44,359 Speaker 1: I don't know. 452 00:22:44,599 --> 00:22:47,759 Speaker 4: I've got no clue, but you know, you just sit 453 00:22:47,880 --> 00:22:50,960 back and you look at the different parts and you go, Okay, 454 00:22:52,039 --> 00:22:52,920 it's possible. 455 00:22:53,240 --> 00:22:54,680 Speaker 3: Nothing untoward is going on here. 456 00:22:56,240 --> 00:23:00,720 Speaker 4: I mean, look the people that occupy wash in DC. 457 00:23:01,440 --> 00:23:03,640 For me to believe that nothing on tooward was going 458 00:23:03,720 --> 00:23:06,519 on there, you'd have to convince me that a bunch 459 00:23:06,559 --> 00:23:10,400 of Midwestern pastors are what's occupying DC right now for 460 00:23:10,519 --> 00:23:12,960 me to believe that story, right, I just you give 461 00:23:13,079 --> 00:23:17,079 those kind of people access and proximity to unlimited amounts 462 00:23:17,079 --> 00:23:22,160 of printed money and no oversight ability, Like that's crazy 463 00:23:22,279 --> 00:23:22,480 to me. 464 00:23:22,799 --> 00:23:23,359 Speaker 3: That's crazy. 465 00:23:23,480 --> 00:23:26,920 Speaker 1: Yeah, it's the absolute fraud playground of the world. There's 466 00:23:27,240 --> 00:23:29,720 one thing about that though, what you just said, this 467 00:23:29,880 --> 00:23:36,279 Midwestern pastorn thing. Let's remember that everybody can fall everybody 468 00:23:36,960 --> 00:23:39,519 and you can be any process. Satan is always hunting us. 469 00:23:39,640 --> 00:23:43,200 I can't count how many times we're told in the Bible, 470 00:23:43,240 --> 00:23:47,680 believers are told Hebrews fourteen through thirty one is telling believers, 471 00:23:47,839 --> 00:23:51,519 do not depart the fath, do not be fooled, do 472 00:23:51,720 --> 00:23:53,759 not turn your back on the Holy Spirit. Don't do 473 00:23:53,920 --> 00:23:56,640 these things. Once you know the truth, to practice sin, 474 00:23:57,519 --> 00:23:59,359 look forward to the fires of Hell, et cetera. So 475 00:24:00,720 --> 00:24:02,640 I know you're making a joke about the Midwest pastors. 476 00:24:03,000 --> 00:24:05,000 We need to talk faith, and we need to talk 477 00:24:05,039 --> 00:24:08,359 to finance, faithful finance with zach Abraham here, and really 478 00:24:08,440 --> 00:24:10,960 it's very sad because it's coming off of the death 479 00:24:11,000 --> 00:24:13,680 of a guy who is known as the Dilbert creator. 480 00:24:13,799 --> 00:24:17,720 And then the headlines around this. Have you seen the headlines, 481 00:24:18,359 --> 00:24:20,359 They're calling this guy disgrace. It says we'll talk about 482 00:24:20,359 --> 00:24:22,920 this in just a second. Was dat Abraham. My friend 483 00:24:23,000 --> 00:24:25,119 Tim Kruk Shank is asking us to band together to 484 00:24:25,200 --> 00:24:27,920 do something to help his social media presence grow. And 485 00:24:28,000 --> 00:24:30,119 it's pretty cool because you can win tons of rewards 486 00:24:30,200 --> 00:24:33,160 in terms of free coffee from bone Frog Coffee. It's 487 00:24:33,240 --> 00:24:36,640 called the Coffee Crush Giveaway, the Great Coffee Crush Giveaway. 488 00:24:36,920 --> 00:24:39,680 Here's how you enter, super easy. Just follow bone Frog 489 00:24:39,720 --> 00:24:43,119 Coffee on any of the social platforms you use and yes, 490 00:24:43,160 --> 00:24:46,200 sir TikTok, they're on x desh, Twitter, Facebook, et cetera. 491 00:24:46,519 --> 00:24:48,839 And then simply comment on the post that's pinned to 492 00:24:48,920 --> 00:24:52,440 the top about the Great Coffee Crush Giveaway. When you 493 00:24:52,559 --> 00:24:55,640 do that, you enter to win. There's three winners. 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This also confirms 505 00:25:26,200 --> 00:25:28,480 that you're following the accounts, and once all the winners 506 00:25:28,880 --> 00:25:32,720 confirm receipt, bone Frog will publicly announce them. There's no 507 00:25:32,839 --> 00:25:37,519 purchase necessary to open to US residents, only a border 508 00:25:37,720 --> 00:25:40,880 as it were, one entry per person per platform. So 509 00:25:41,079 --> 00:25:44,119 go and use the hashtag bone Frog Coffee are a 510 00:25:44,160 --> 00:25:47,319 great coffee crush and you go hit that up. Help 511 00:25:47,400 --> 00:25:49,119 tim gow to the social media presidence and you get 512 00:25:49,160 --> 00:25:52,319 an opportunity to win a whole bunch of coffee to enjoy. 513 00:25:52,960 --> 00:25:56,119 So on the faithful finance topic, Zach Abraham's with me, 514 00:25:56,279 --> 00:26:00,359 Chief investment Officer Bulwart Company Management. Scott saw the sad 515 00:26:00,480 --> 00:26:04,680 news of Scott Adams dying. Zach, Yeah, yeah, yeah, So 516 00:26:04,799 --> 00:26:08,240 Scott was a very wealthy man, very successful. Would you 517 00:26:08,279 --> 00:26:12,640 agree that after Dilbert's had kind of it reached zenith 518 00:26:12,680 --> 00:26:17,240 and we saw him online explaining systems thinking and psychology 519 00:26:17,319 --> 00:26:20,480 and politics. I think he was gifted with an incredible 520 00:26:20,559 --> 00:26:21,680 and incredible intellect. 521 00:26:22,480 --> 00:26:25,240 Speaker 3: Oh yeah, brilliant guy. Brilliant guy. Yeah yeah. 522 00:26:25,400 --> 00:26:27,480 Speaker 1: And the coffee with Scott Adams thing showed him to 523 00:26:27,519 --> 00:26:30,119 be a very approachable man, showed him to be someone 524 00:26:30,160 --> 00:26:32,519 that you could turn to like as as a friend. 525 00:26:32,559 --> 00:26:35,119 He was apparently a very very good husband. But it 526 00:26:35,240 --> 00:26:37,240 brought up a topic that you and I have kind 527 00:26:37,279 --> 00:26:39,599 of flirted with talking about before, and it has to 528 00:26:39,720 --> 00:26:42,559 do with rich people in the Kingdom of Heaven. I 529 00:26:42,720 --> 00:26:47,680 want you to hear the statement that his ex wife 530 00:26:47,720 --> 00:26:51,119 put out and had. It was something Scott wrote he 531 00:26:51,240 --> 00:26:54,240 wanted people to hear this after his death. Here's what 532 00:26:54,559 --> 00:26:57,640 his ex wife read for people's consumption next. 533 00:26:58,599 --> 00:27:01,240 Speaker 6: Many of my Christian pros have asked me to find 534 00:27:01,319 --> 00:27:05,720 Jesus before I go. I'm not a believer, but I 535 00:27:05,920 --> 00:27:10,480 have to admit the risk reward calculation for doing so 536 00:27:10,720 --> 00:27:16,079 looks so attractive to me. So here I go. I 537 00:27:16,279 --> 00:27:20,799 accept Jesus Christ as my Lord and Savior and look 538 00:27:20,880 --> 00:27:25,319 forward to spending an eternity with him. The part about 539 00:27:25,440 --> 00:27:29,680 me not being a believer should be quite quickly resolved 540 00:27:30,359 --> 00:27:34,640 if I wake up in heaven. I won't need any 541 00:27:34,759 --> 00:27:40,200 more convincing than that. I hope I'm still qualified for entry. 542 00:27:41,640 --> 00:27:43,680 Speaker 1: So that's part of what he said in his note. 543 00:27:43,720 --> 00:27:46,200 There's Zach and it begins with I do not believe 544 00:27:46,279 --> 00:27:50,799 your God, paraphrasing I do not believe, but I'm willing 545 00:27:50,880 --> 00:27:53,720 to issue what I would call an incantation Harry Potter 546 00:27:53,799 --> 00:27:57,279 type incantation. I'm going to say some words that will 547 00:27:57,319 --> 00:28:00,640 have a magic effect, and then I'm going to offer 548 00:28:00,720 --> 00:28:06,319 a negotiation with God. I'll die, you wake me up, 549 00:28:06,519 --> 00:28:08,880 then I'll believe. And what's so sad about this to 550 00:28:08,960 --> 00:28:11,440 me is, guess what if Scott Adams God forbid, woke 551 00:28:11,519 --> 00:28:15,880 up in hell? He also believes. Yeah, and right. He 552 00:28:16,039 --> 00:28:19,839 was a very wealthy man, a very smart man, and 553 00:28:20,079 --> 00:28:22,039 in that that's what I wanted to talk with you about, 554 00:28:22,079 --> 00:28:24,000 and the faithful finance front. Then we can expand this. 555 00:28:25,160 --> 00:28:27,799 I think that's an example of why it's so hard 556 00:28:27,880 --> 00:28:29,519 for a rich man to make it into heaven, because 557 00:28:29,559 --> 00:28:31,039 a rich man can look around and say, well, I 558 00:28:31,119 --> 00:28:33,519 did all this on my own. You spend a lot 559 00:28:33,559 --> 00:28:36,480 of time around wealthy people. You've been very good in finance, 560 00:28:36,599 --> 00:28:37,799 so you've met more of them than I do. You 561 00:28:37,880 --> 00:28:39,359 work with more of them than I do these days? 562 00:28:40,079 --> 00:28:43,119 Why do you think it's hard for rich people to 563 00:28:43,160 --> 00:28:43,839 make it into heaven? 564 00:28:46,240 --> 00:28:48,559 Speaker 4: At the risk is sounding arrogant, I don't think I know, 565 00:28:50,359 --> 00:28:53,839 and I've experienced it firsthand through a lot of other people, 566 00:28:54,920 --> 00:28:56,480 and I've dealt with it to a certain degree on 567 00:28:56,519 --> 00:28:58,720 my own. And there's a thing that my wife and 568 00:28:58,759 --> 00:29:01,839 I referred to that when we started bullwarking, we started 569 00:29:01,880 --> 00:29:05,000 with about twelve million dollars under management, and now as 570 00:29:05,079 --> 00:29:07,000 of today, I think we're about forty million away from 571 00:29:07,000 --> 00:29:08,160 the one billion dollar mark. 572 00:29:08,440 --> 00:29:08,720 Speaker 1: Wow. 573 00:29:09,759 --> 00:29:10,880 Speaker 2: And I. 574 00:29:12,400 --> 00:29:14,759 Speaker 4: That there's not an there's not an ounce of brag 575 00:29:14,839 --> 00:29:17,000 in that. There is nobody more shocked by it than 576 00:29:17,039 --> 00:29:20,119 I am. I see the numbers and people are like, well, 577 00:29:20,200 --> 00:29:22,160 wasn't that always your goal? And no, man, my goal 578 00:29:22,279 --> 00:29:23,880 was that I didn't lose my house and I fed 579 00:29:23,960 --> 00:29:26,759 my kids like that that was the you know, I mean, sure, 580 00:29:26,799 --> 00:29:29,759 we all have dreams, but you know, when you're staring down, 581 00:29:30,480 --> 00:29:32,559 when you're staring down on viction, you're not thinking about 582 00:29:32,599 --> 00:29:34,079 getting to a billion dollars under. 583 00:29:33,960 --> 00:29:35,000 Speaker 3: Management, you know what I mean? 584 00:29:35,119 --> 00:29:35,240 Speaker 2: Right? 585 00:29:35,680 --> 00:29:40,920 Speaker 4: But with each step that we've taken and we've reached 586 00:29:40,960 --> 00:29:45,559 these different financial platforms. It kind of caught me off 587 00:29:45,599 --> 00:29:47,880 guard a couple of times, but then it started getting 588 00:29:47,920 --> 00:29:49,200 to very predictable. 589 00:29:49,240 --> 00:29:51,359 Speaker 3: And my wife and I talk about it. We refer 590 00:29:51,440 --> 00:29:54,200 to it as equalizing, meaning you hit. 591 00:29:54,160 --> 00:29:57,000 Speaker 4: These different platforms and these different things open up to 592 00:29:57,079 --> 00:29:59,960 you because you've got the freedom and the and the finance, 593 00:30:00,079 --> 00:30:02,200 so wherewithal to do these different things. 594 00:30:02,680 --> 00:30:03,799 Speaker 3: And that's a new reality. 595 00:30:04,559 --> 00:30:08,920 Speaker 4: And I've equated it to like deep sea, like like 596 00:30:09,079 --> 00:30:12,079 deep diving, right you need to stop every twenty twenty 597 00:30:12,160 --> 00:30:14,079 feet and calibrate and blow your ears and all that 598 00:30:14,160 --> 00:30:16,319 kind of stuff. And I found that I needed to 599 00:30:16,400 --> 00:30:18,599 do that, not because I was like going off the rails, 600 00:30:18,640 --> 00:30:21,799 but it's a new reality. It's a it's a place 601 00:30:21,880 --> 00:30:24,559 you've never been to before, right, like most people have 602 00:30:24,680 --> 00:30:27,000 not experienced making it a month more money than they 603 00:30:27,079 --> 00:30:28,279 need to live over the next. 604 00:30:28,519 --> 00:30:29,400 Speaker 3: Year, you know what I mean. 605 00:30:29,680 --> 00:30:33,279 Speaker 4: That's a that's a different reality, and it's really easy 606 00:30:33,359 --> 00:30:34,799 for it to mess with your mind, to get you 607 00:30:34,880 --> 00:30:38,319 focused on the wrong things. And the other part of 608 00:30:38,359 --> 00:30:40,839 it is that as you get more money, you are 609 00:30:40,960 --> 00:30:45,440 able to mold and shape your life and your work life, 610 00:30:45,640 --> 00:30:48,559 and everything around you to exactly the way you want it. 611 00:30:48,960 --> 00:30:51,079 Speaker 3: And if you think about it, that's not normal. 612 00:30:51,440 --> 00:30:55,359 Speaker 4: Right, Like everybody has to deal with things that they 613 00:30:55,400 --> 00:30:57,079 don't want to deal with it they don't like. The 614 00:30:57,200 --> 00:30:59,079 more money you have, the less of those things you 615 00:30:59,160 --> 00:31:01,759 have to deal with. Again, I'm a perfect example. One 616 00:31:01,799 --> 00:31:03,960 of my primary goals when I started bullwork was to 617 00:31:04,000 --> 00:31:05,319 get to the point where I didn't have to do 618 00:31:05,400 --> 00:31:08,559 my own paperwork, right, Like, just a little thing like that. 619 00:31:09,079 --> 00:31:09,960 Speaker 2: Now you know? 620 00:31:10,039 --> 00:31:12,480 Speaker 4: Now I have hired people and built a team to 621 00:31:12,519 --> 00:31:14,880 where I only do the things that I like to 622 00:31:14,960 --> 00:31:17,519 do about my job. I've outsourced that around. Is that 623 00:31:17,640 --> 00:31:21,279 a realistic life for me? No, I've been unbelievably blessed, 624 00:31:21,319 --> 00:31:23,599 and very few people get to do that. And it's 625 00:31:23,759 --> 00:31:26,359 really easy for that to start bleeding into other parts 626 00:31:26,400 --> 00:31:29,440 of your life. Nobody tells you, No, the more money 627 00:31:29,480 --> 00:31:31,400 you have, the more your butt gets kissed every time 628 00:31:31,440 --> 00:31:32,359 you walk through a door. 629 00:31:32,880 --> 00:31:33,720 Speaker 3: That's not normal. 630 00:31:34,200 --> 00:31:34,319 Speaker 2: Right. 631 00:31:34,440 --> 00:31:37,359 Speaker 3: You can mold your reality around you. You can effectively 632 00:31:37,480 --> 00:31:40,400 be your own God. Right, So you said you did. 633 00:31:40,599 --> 00:31:43,240 Speaker 1: Guess you weren't guessing why it's hard for rich people 634 00:31:43,279 --> 00:31:45,960 to make it into heaven. You said you know, is 635 00:31:46,079 --> 00:31:49,599 that the kapper that you're treated like a little baby God. 636 00:31:50,640 --> 00:31:53,720 Speaker 3: Yeah, and you treat yourself that way that if you 637 00:31:53,839 --> 00:31:55,759 want this, you buy it. You don't think right like. 638 00:31:56,720 --> 00:32:00,400 Speaker 4: It distorts kind of the normal human experience to a 639 00:32:00,440 --> 00:32:01,039 certain degree. 640 00:32:01,240 --> 00:32:03,640 Speaker 1: Well, I'm looking at Scott Adams. I mean there's Zach 641 00:32:03,680 --> 00:32:06,640 Abraham's you know, the work that you've done and the 642 00:32:06,839 --> 00:32:09,480 challenges you and your wife face and building Bulwark. I've 643 00:32:09,519 --> 00:32:12,960 got my challenges. I've had my seasons of plenty. As 644 00:32:13,039 --> 00:32:16,160 the podcast world changes, we were here right now retooling 645 00:32:16,200 --> 00:32:18,039 some things. So some things we're going to focus on differently, 646 00:32:18,079 --> 00:32:20,079 and some things were do differently. The radio world change. 647 00:32:20,480 --> 00:32:22,720 So you go through plenties, you go through seasons of plenty. 648 00:32:23,039 --> 00:32:24,759 And God is the God of the mountains, He's the 649 00:32:24,799 --> 00:32:27,279 God of the valleys. He's with us. My challenge, Zach 650 00:32:27,400 --> 00:32:30,720 is actually trusting God. And I'll tell you I trust God, 651 00:32:30,839 --> 00:32:34,200 but sometimes I will be fearful about financial outcomes and 652 00:32:34,279 --> 00:32:37,720 then I remember, wait, God has me, always has had me. 653 00:32:38,079 --> 00:32:40,680 What I hear in Scott Adam's statement is something that 654 00:32:40,759 --> 00:32:42,880 my daughter will sometimes joke about. If my daughter's in 655 00:32:42,960 --> 00:32:45,640 the house and I remember this I'll never forget this. 656 00:32:45,759 --> 00:32:48,400 I was on the phone with my agent when I 657 00:32:48,440 --> 00:32:51,200 had a radio agent, and we were talking about the 658 00:32:51,359 --> 00:32:54,519 contract renewal. And I was on the phone with Heather 659 00:32:55,200 --> 00:32:57,599 and hung up the phone and said, hey, honey. She goes, ooh, 660 00:32:57,880 --> 00:33:01,240 daddy's doing business. That's at he's business voice, the deal 661 00:33:01,319 --> 00:33:02,920 making voice. I go, I'm that different. She goes, oh, 662 00:33:02,960 --> 00:33:04,119 my gosh, you're so different. 663 00:33:04,839 --> 00:33:05,039 Speaker 2: Yeah. 664 00:33:05,039 --> 00:33:08,119 Speaker 1: I'm in command, and I'm in charge, and I'm hearing 665 00:33:08,160 --> 00:33:10,920 from Scott Adams, and that's something that really makes me sad. 666 00:33:11,319 --> 00:33:15,319 I heard him negotiate. I heard him say, all right, well, 667 00:33:15,440 --> 00:33:19,039 so if I understands your deal correctly, Lord, it is 668 00:33:19,200 --> 00:33:23,240 that I repent of my sins. I come to you 669 00:33:24,039 --> 00:33:28,920 in humility. I recognize that you are the King of 670 00:33:28,960 --> 00:33:31,759 the universe, the Lord of all things, my personal savior. 671 00:33:32,960 --> 00:33:35,279 I can't do it on my own. I beg you 672 00:33:35,920 --> 00:33:38,839 to forgive me to be my savior. I accept you 673 00:33:38,920 --> 00:33:41,680 as my savior, and then I ask you to change 674 00:33:41,759 --> 00:33:44,160 me and to sanctify me. And then I began acting 675 00:33:44,200 --> 00:33:46,119 that way. Okay, I hear you. I mean, and that's 676 00:33:46,119 --> 00:33:48,079 an attractive offer. I'm not here to say it isn't 677 00:33:48,880 --> 00:33:51,599 but I want to counter you with this, God, how 678 00:33:51,640 --> 00:33:55,279 about this, I'll die. I don't believe in you, but 679 00:33:55,400 --> 00:33:58,799 I'll die, and then when I die, you wake me 680 00:33:58,880 --> 00:34:00,960 up and heaven and then I will be. So that's 681 00:34:01,000 --> 00:34:03,920 my counter offer, and it's my final offer. And sadly 682 00:34:03,960 --> 00:34:06,440 it was his final offer. So I see a guy 683 00:34:06,519 --> 00:34:11,440 who spent a lifetime negotiating rights for Dilbert in cartoons, 684 00:34:12,000 --> 00:34:16,199 in syndication, in books, in merchandise. And look at what 685 00:34:16,280 --> 00:34:19,559 he did financially for his family. And it wasn't just Dilbert. 686 00:34:19,599 --> 00:34:19,880 Speaker 2: He did. 687 00:34:20,000 --> 00:34:23,880 Speaker 1: He wrote books about work, he wrote books about marketing. 688 00:34:24,400 --> 00:34:26,920 He became Hey, I don't need a publisher, all self published. 689 00:34:26,960 --> 00:34:29,679 He created a social media platform of notes, he became 690 00:34:29,760 --> 00:34:32,000 political thinker. Right, that's what I see him trying to 691 00:34:32,039 --> 00:34:33,039 do negotiating with God. 692 00:34:33,880 --> 00:34:41,840 Speaker 4: He never didn't have leverage. He never didn't have leverage. Right, 693 00:34:42,039 --> 00:34:44,119 he is not used to and nor should he be. 694 00:34:44,159 --> 00:34:44,800 Speaker 3: He's not used to. 695 00:34:44,800 --> 00:34:47,719 Speaker 4: Operating without leverage. He got into a negotiation that he 696 00:34:47,760 --> 00:34:50,840 didn't realize he has their leverage. It's not a negotiation, 697 00:34:50,960 --> 00:34:54,039 it's an offer, take it or leave it. Yeah, Right, 698 00:34:54,639 --> 00:34:57,320 And this gets back to my You ever see the 699 00:34:57,360 --> 00:34:58,800 movie Devil's Advocate. 700 00:34:58,639 --> 00:35:03,239 Speaker 1: Yes Alba she in that there's some horrifically nearly pornographic 701 00:35:03,320 --> 00:35:03,920 scenes in that. 702 00:35:04,280 --> 00:35:09,119 Speaker 4: There are, and what I would advise people do, And 703 00:35:09,239 --> 00:35:11,800 I would say probably like seventeen years old would be 704 00:35:11,840 --> 00:35:12,360 the cutoff. 705 00:35:12,880 --> 00:35:13,960 Speaker 3: Maybe sixteen if there. 706 00:35:14,320 --> 00:35:15,960 Speaker 1: I say seventeen at least. 707 00:35:16,480 --> 00:35:22,840 Speaker 4: Okay, but figure out where those scenes are because the ironically, 708 00:35:23,000 --> 00:35:24,039 the message. 709 00:35:23,639 --> 00:35:28,000 Speaker 3: That movie sens was phenomenal, which is what the seduction 710 00:35:28,159 --> 00:35:32,360 of power and money and prestige and how. 711 00:35:32,480 --> 00:35:35,960 Speaker 4: And there's a scene at the end where Keanu Reeves 712 00:35:36,039 --> 00:35:38,119 does the right thing right, He stands up for right, 713 00:35:38,280 --> 00:35:41,159 He vanquishes his foe, walks into the bathroom, and the 714 00:35:41,199 --> 00:35:42,079 reporter pulls. 715 00:35:41,920 --> 00:35:42,440 Speaker 3: Up next to him. 716 00:35:42,480 --> 00:35:45,599 Speaker 4: He goes, man, you're incredible in the courtroom, and there's 717 00:35:45,639 --> 00:35:46,840 kind of that twinkle in his eye. 718 00:35:47,079 --> 00:35:48,679 Speaker 3: Keanu Reeves walks out of the bathroom. 719 00:35:48,880 --> 00:35:50,960 Speaker 4: All of a sudden, the reporter flips back to being 720 00:35:50,960 --> 00:35:55,280 an al pacino and he goes, pride, it's my favorite sis, right, 721 00:35:55,840 --> 00:35:59,679 And you sit there and you're like, oh, and that 722 00:36:01,320 --> 00:36:03,239 you and I were talking about this off the offline 723 00:36:03,800 --> 00:36:05,880 the craziest. I got a little choked up when I 724 00:36:05,960 --> 00:36:08,440 listened to his wife talking just now. And the reason 725 00:36:08,480 --> 00:36:11,679 I yeah, And the reason why is because I hear 726 00:36:11,800 --> 00:36:15,800 the words of a man negotiating with somebody that doesn't 727 00:36:15,880 --> 00:36:19,239 need to be negotiated with, and you realize the penalty. 728 00:36:19,280 --> 00:36:21,360 It's so much easier to see faults in other people. 729 00:36:21,400 --> 00:36:22,920 And I think that we should all sit back and 730 00:36:23,039 --> 00:36:26,400 look at that. What we just saw was the horrific 731 00:36:26,519 --> 00:36:29,519 impacts of pride. And you and I were saying, if 732 00:36:29,639 --> 00:36:34,000 you have five, ten thirty days to live, think of 733 00:36:34,280 --> 00:36:38,039 how illogical it is to take the approach that that 734 00:36:38,239 --> 00:36:42,960 very logical man took. Right, Why why wouldn't you at 735 00:36:43,039 --> 00:36:45,159 least say it? Why wouldn't you just go no, I 736 00:36:45,280 --> 00:36:48,920 do believe right, Like like, if it's not the case, 737 00:36:49,000 --> 00:36:50,800 you don't have to spend the next twenty years going 738 00:36:50,840 --> 00:36:51,239 to church. 739 00:36:51,840 --> 00:36:52,159 Speaker 2: No, right. 740 00:36:53,039 --> 00:36:57,199 Speaker 1: And I I can respect him saying out loud to God, 741 00:36:57,239 --> 00:37:00,400 I don't believe in you, right, because it better so 742 00:37:00,519 --> 00:37:04,039 not a lot of God's face, because God knows right. 743 00:37:04,280 --> 00:37:08,719 But that so my question then, is with all his money, 744 00:37:08,840 --> 00:37:11,679 all his success, you said never time, or he didn't 745 00:37:11,719 --> 00:37:14,079 have leverage. Well, you know what, I guess I'll just 746 00:37:14,119 --> 00:37:16,559 take my cartoon away from you. I guess you don't 747 00:37:16,559 --> 00:37:18,679 really need the Delbert calendar. If you're not willing to 748 00:37:18,719 --> 00:37:20,280 pay that, that's fine because I don't need the Delbert 749 00:37:20,320 --> 00:37:21,920 calendar either. Right, I've got plenty of time. 750 00:37:21,960 --> 00:37:23,599 Speaker 3: Ielf publish. Right, I'll self publish a. 751 00:37:23,719 --> 00:37:24,559 Speaker 1: Good idea calendar. 752 00:37:24,599 --> 00:37:24,920 Speaker 2: I like that. 753 00:37:24,960 --> 00:37:26,320 Speaker 1: I'll do that on my own. Thanks for the idea. 754 00:37:26,400 --> 00:37:27,960 No no, no, no, no no no, Scott, no no no. 755 00:37:28,039 --> 00:37:29,840 We can work this out. Baby. We love you seriously, No, 756 00:37:29,960 --> 00:37:33,880 we love you very much. So what are the keys 757 00:37:35,360 --> 00:37:39,880 to people who have reached financial success? Zat Abraham? What 758 00:37:40,000 --> 00:37:43,159 are the keys to staying grounded? One of the things 759 00:37:43,239 --> 00:37:44,960 I had a friend of mine tell me when we 760 00:37:45,079 --> 00:37:47,960 started building a startup together. He was my mentor in tech. 761 00:37:48,519 --> 00:37:51,280 He said, promise yourself. There's things you'll never do. Like 762 00:37:51,679 --> 00:37:53,639 John said, My rule is I'll never buy a Porsche 763 00:37:53,679 --> 00:37:55,960 because everyone I've ever seen buy a nice Porsche turns 764 00:37:55,960 --> 00:37:59,920 into a jerk. So I've given myself rules. And Paul 765 00:38:00,239 --> 00:38:02,760 I used to tell my staff. I used to say 766 00:38:02,800 --> 00:38:07,239 a very very racy phrase. I'd say to them, the 767 00:38:07,360 --> 00:38:09,760 first trick you turn is the hardest. After a while, 768 00:38:09,800 --> 00:38:11,039 you just get in the car and you let the 769 00:38:11,119 --> 00:38:14,679 John drive, meaning The first time you violate your principles 770 00:38:14,840 --> 00:38:16,920 is not going to feel good. After that, you'll get 771 00:38:17,000 --> 00:38:20,000 used to it. So I had them create a plaque 772 00:38:20,039 --> 00:38:21,599 that they put up on their wall with a mirror. 773 00:38:21,880 --> 00:38:25,079 These are things I'll never do. And the day you 774 00:38:25,199 --> 00:38:27,800 do one, you quit. You leave DC and give your 775 00:38:27,840 --> 00:38:30,599 best friends and your parents a copy of that plaque 776 00:38:31,079 --> 00:38:32,920 as a poster. And if they ever see you doing 777 00:38:32,960 --> 00:38:34,280 one of those things, they come to you and say 778 00:38:34,320 --> 00:38:37,840 it's time to leave DC. You took your first bribe, yep. 779 00:38:38,000 --> 00:38:40,880 And everybody gets offered a bribe in DC. Everybody gets 780 00:38:40,920 --> 00:38:43,679 offered a bribe. Eventually, if you have any job of note, 781 00:38:43,719 --> 00:38:45,360 you get offered. You can get offered a bribe as 782 00:38:45,360 --> 00:38:48,239 a hotel maid. Hey there's a guy staying in the room. 783 00:38:49,159 --> 00:38:52,039 We need you to put this on his shoes. Okay, 784 00:38:52,159 --> 00:38:53,840 we need you to put this on his belt, and 785 00:38:53,960 --> 00:38:57,079 we'll pay you. So how do you stay grounded? 786 00:38:57,199 --> 00:38:57,320 Speaker 2: Then? 787 00:38:57,559 --> 00:39:00,760 Speaker 1: What are the rules for people who are are really 788 00:39:00,840 --> 00:39:03,480 wealthy and they don't want to fall away from Christ? 789 00:39:04,159 --> 00:39:06,079 How do you handle that for yourself? And what do 790 00:39:06,159 --> 00:39:07,559 you suggest the rules of other people? 791 00:39:08,960 --> 00:39:11,639 Speaker 3: So this is this will sound kind of weird, but. 792 00:39:13,880 --> 00:39:16,119 Speaker 4: One thing that I've experienced, and I've seen a lot 793 00:39:16,199 --> 00:39:21,000 of other people experience it to greater levels, but ownless stuff. 794 00:39:22,239 --> 00:39:22,519 Speaker 3: Okay. 795 00:39:22,719 --> 00:39:25,760 Speaker 4: And the reason I say that is when you have 796 00:39:25,920 --> 00:39:29,440 the ability to purchase whatever you want whenever you want to, 797 00:39:29,559 --> 00:39:34,159 within reason, it you know, it can be very exhilarating 798 00:39:34,199 --> 00:39:35,480 and there's parts of it that are a lot of fun. 799 00:39:35,960 --> 00:39:38,719 But what happens to a lot of people is you 800 00:39:38,840 --> 00:39:45,800 start acquiring things and inadvertently a you start spending more 801 00:39:45,920 --> 00:39:48,760 time focused on the maintenance and the care and the 802 00:39:49,840 --> 00:39:53,440 those things take. They start taking a very bizarre place. 803 00:39:54,039 --> 00:39:56,119 And the other thing they start doing is they start 804 00:39:56,199 --> 00:39:59,679 sucking up in ordinate amounts of capital and they start 805 00:39:59,719 --> 00:40:03,960 with restricting you. You know, you're wealthy, You've still got 806 00:40:04,000 --> 00:40:07,199 plenty of flexibility and you can do things. But I've 807 00:40:07,320 --> 00:40:11,599 seen many times where people probably should have and felt 808 00:40:11,679 --> 00:40:14,280 led to give, but they couldn't because they were juggling 809 00:40:14,400 --> 00:40:15,840 vacation homes or someone like you. 810 00:40:16,039 --> 00:40:19,639 Speaker 3: See what I'm saying, And there and there's these these. 811 00:40:19,840 --> 00:40:23,239 Speaker 4: Stuff is so stuff is so much less fulfilling than 812 00:40:23,280 --> 00:40:25,400 people think it's going to be, and it's so much 813 00:40:25,440 --> 00:40:27,440 more of a pain than people think it's going to be. 814 00:40:28,320 --> 00:40:30,960 Speaker 3: We did we ascribed so much value to things that. 815 00:40:31,039 --> 00:40:31,559 Speaker 2: We do not have. 816 00:40:31,880 --> 00:40:34,119 Speaker 3: Yeah, and it's and it's a huge mistake. 817 00:40:35,639 --> 00:40:39,880 Speaker 1: I saw a person do a spiritual balance sheet, and 818 00:40:40,000 --> 00:40:43,320 I thought this was a really interesting approach. Profit loss 819 00:40:43,719 --> 00:40:48,639 for the family, for the home, okay, the business, investments 820 00:40:48,679 --> 00:40:52,679 in the kingdom. And they put a line item down 821 00:40:52,719 --> 00:40:59,920 there and it blew their minds. Four homes, vacations, college funds, 822 00:41:00,880 --> 00:41:04,559 and we tithe, we give ten percent and they, as 823 00:41:04,559 --> 00:41:05,960 a husband and wife, sat back and looked at it. 824 00:41:05,960 --> 00:41:10,000 I said, that is pathetic. It is flat pathetic. We 825 00:41:10,079 --> 00:41:13,679 can afford thirty percent and it wouldn't even make a dentse. 826 00:41:14,079 --> 00:41:16,639 Speaker 4: So I was just gonna say one of my biggest 827 00:41:16,679 --> 00:41:19,199 tips to people as you start making amounts of money, 828 00:41:19,239 --> 00:41:21,960 if you're fortunate enough to come into an income that's 829 00:41:22,000 --> 00:41:24,320 reflective of the top one percent or something like that, 830 00:41:24,880 --> 00:41:28,000 piece of advice. The best thing that you can do 831 00:41:28,159 --> 00:41:30,320 for your marriage, you can do for your own peace 832 00:41:30,360 --> 00:41:33,280 of mind, for your soul, for your family. Make the 833 00:41:33,480 --> 00:41:36,440 number one. Because this is the beautiful thing about money. 834 00:41:36,599 --> 00:41:41,480 I think people always miss this. When you have big 835 00:41:41,519 --> 00:41:45,280 amounts of excess, you can prioritize anything however you want. 836 00:41:45,320 --> 00:41:49,920 To so make the giving the number one priority like 837 00:41:50,039 --> 00:41:52,199 my wife and I have. And it look, I don't 838 00:41:52,239 --> 00:41:54,400 do everything perfect. I'm not saying at all, but I've 839 00:41:54,480 --> 00:41:58,079 set these things up because I'm not perfect. Meaning We've 840 00:41:58,119 --> 00:42:00,320 got to the point where when we want to do 841 00:42:00,440 --> 00:42:03,880 something with money, but a financial an opportunity to give 842 00:42:04,000 --> 00:42:08,320 crosses our path, we know immediately that Dope put that 843 00:42:08,400 --> 00:42:11,320 thing on the side, give to that right and I 844 00:42:11,639 --> 00:42:12,719 love it when it happens. 845 00:42:13,400 --> 00:42:15,920 Speaker 3: I didn't it first because it was an inconvenience, right, well, 846 00:42:15,960 --> 00:42:17,760 I want that. We got to do the right thing. 847 00:42:18,079 --> 00:42:20,960 Speaker 4: What I learned over time is like everything else with God, 848 00:42:21,079 --> 00:42:24,239 right it's protection it. Three months later I'd sit back 849 00:42:24,280 --> 00:42:27,280 and go, I'm so glad we did that because now 850 00:42:27,840 --> 00:42:31,079 three months, four months, five months later, I got it anyway, 851 00:42:32,119 --> 00:42:35,280 and God was just saying I didn't say no to 852 00:42:35,440 --> 00:42:37,039 just say, what do you prioritize? 853 00:42:37,280 --> 00:42:38,280 Speaker 3: What do you prioritize? 854 00:42:38,400 --> 00:42:41,000 Speaker 1: Love the guy, love Lord, your God with your entire heart, mind, 855 00:42:41,039 --> 00:42:42,519 soul and strength, love your neighbors, yourself. 856 00:42:42,599 --> 00:42:43,039 Speaker 2: I love that. 857 00:42:43,239 --> 00:42:43,840 Speaker 3: Thank you, Zach. 858 00:42:44,760 --> 00:42:48,079 Speaker 1: There is one of the things I wanted to play 859 00:42:48,159 --> 00:42:50,679 for you. DC style. You talk about money and never 860 00:42:50,800 --> 00:42:55,519 having had enough did Rick Scott, Yeah, senator from Florida. 861 00:42:55,639 --> 00:42:58,159 He was going to be governor at one point. And 862 00:42:58,679 --> 00:43:03,280 Rick Scott kind of plays the hardcore Republican routes. He's 863 00:43:03,360 --> 00:43:05,920 the rock rib conservative of all those kind of cliches. 864 00:43:07,119 --> 00:43:09,519 He had the defense of something I thought you'd find interesting. 865 00:43:10,239 --> 00:43:16,400 He decided to go out and defend insider trading. Rick 866 00:43:16,480 --> 00:43:20,800 Scott has a nine figure net worth watches. 867 00:43:20,920 --> 00:43:25,440 Speaker 7: But somehow it's suspect because I made money. How many 868 00:43:25,480 --> 00:43:27,119 people in the artists, how many of you don't want 869 00:43:27,119 --> 00:43:29,039 to make money? Anybody want to be poor? 870 00:43:30,400 --> 00:43:34,519 Speaker 3: I don't, right, So this. 871 00:43:34,599 --> 00:43:36,440 Speaker 7: Idea that we're going to attack people because they make 872 00:43:36,519 --> 00:43:43,000 money is raw. Is absolutely raw. We should cherish all 873 00:43:43,079 --> 00:43:46,199 of our different backgrounds. Every one of us has a 874 00:43:46,199 --> 00:43:50,280 different background. I've got a business background. But what I 875 00:43:50,440 --> 00:43:53,239 was just accused of is making money is somehow I 876 00:43:53,360 --> 00:43:55,840 can't do I can't be fair and do things the 877 00:43:55,920 --> 00:43:56,280 right way. 878 00:43:58,000 --> 00:44:00,679 Speaker 3: So I think it's disgusting with this going on here. 879 00:44:01,480 --> 00:44:05,000 Speaker 1: So we're talking about limiting insider trading. And Rick Scott's 880 00:44:05,000 --> 00:44:07,760 defense of this is that people don't want him to 881 00:44:07,800 --> 00:44:11,239 make money. I was trying to figure out nine figures. 882 00:44:11,280 --> 00:44:14,599 That's he's got a significant little basic capital work from Disney. 883 00:44:15,599 --> 00:44:18,440 Speaker 3: It's over one hundred million dollars one hundred. 884 00:44:18,239 --> 00:44:20,559 Speaker 1: Million bucks, and he needs more from insider trading. 885 00:44:21,599 --> 00:44:23,920 Speaker 3: So I'd look at it. I'd look at him and go, hey, buddy, 886 00:44:24,119 --> 00:44:25,199 go back to the business world. 887 00:44:26,639 --> 00:44:29,960 Speaker 4: You chose to be a public servant and take the 888 00:44:30,079 --> 00:44:35,239 public money. With that comes certain responsibilities. For instance, you 889 00:44:35,280 --> 00:44:37,159 can't purge yourself in front of the Senate, can you? 890 00:44:37,519 --> 00:44:38,440 Speaker 3: Okay, you can't. 891 00:44:38,599 --> 00:44:40,719 Speaker 4: There's all these things you've got to do. You can't 892 00:44:40,760 --> 00:44:43,559 delete emails. I can you know another thing you can't do. 893 00:44:44,000 --> 00:44:47,119 You can't take public funds and use them to enrich 894 00:44:47,199 --> 00:44:50,599 themselves off of access to information that the public doesn't have. 895 00:44:51,000 --> 00:44:53,320 And Rick, don't sit there and play make this a 896 00:44:53,519 --> 00:44:54,480 moral playground. 897 00:44:54,960 --> 00:44:58,440 Speaker 3: You are that. You are the virus that has infected 898 00:44:58,519 --> 00:44:59,480 the Republican Party. 899 00:44:59,679 --> 00:45:01,440 Speaker 4: And you're one of the reasons that we're at this 900 00:45:01,559 --> 00:45:03,559 place because you guys have been all mouth and no 901 00:45:03,719 --> 00:45:06,480 action for the better part of my adult life. 902 00:45:06,880 --> 00:45:09,079 Speaker 3: And when it comes time to stand up and do 903 00:45:09,159 --> 00:45:09,800 the right thing. 904 00:45:10,039 --> 00:45:15,760 Speaker 4: You issue some bs feigned disgust about protecting your ability 905 00:45:15,800 --> 00:45:18,280 to make money. Rick, you got over one hundred million 906 00:45:18,559 --> 00:45:20,599 you could stick it in treasuries and make four and 907 00:45:20,639 --> 00:45:22,360 a half million a year off the interest. 908 00:45:22,840 --> 00:45:24,519 Speaker 3: Give me a freaking break. 909 00:45:24,920 --> 00:45:26,920 Speaker 1: Yeah, it was sick. And the fact that he can 910 00:45:27,039 --> 00:45:29,599 do that and hold his head up high shows that 911 00:45:29,719 --> 00:45:32,880 he is not just the virus. He has become the virus. 912 00:45:32,920 --> 00:45:34,679 It's not just that he has it. He's become the 913 00:45:34,800 --> 00:45:35,960 actual virus in our system. 914 00:45:36,079 --> 00:45:38,039 Speaker 4: And talk about a guy that didn't make his chart 915 00:45:38,079 --> 00:45:40,599 of things he wouldn't do in DC, right, or if 916 00:45:40,639 --> 00:45:41,480 he did, he lost it. 917 00:45:41,880 --> 00:45:43,960 Speaker 1: So when came in and stole it, it's just gone 918 00:45:44,320 --> 00:45:44,800 sorry about that. 919 00:45:44,960 --> 00:45:47,360 Speaker 3: They traded him nine figures for it, right, exactly. 920 00:45:47,599 --> 00:45:50,079 Speaker 1: Always good to have wise counsel for my friend, Zach Abraham, 921 00:45:50,119 --> 00:45:52,039 Chief and Destmunster Bolt Cup of Management. Thank you for 922 00:45:52,119 --> 00:45:54,599 coming on, stay safe over in this separate counchy of Seattle, 923 00:45:54,679 --> 00:45:56,840 and hopeful those daycare businesses work out for you. That 924 00:45:56,920 --> 00:45:59,719 was a wise investment you suggested. I thought you were 925 00:45:59,760 --> 00:46:02,320 small open something when you said go get the Somality 926 00:46:02,400 --> 00:46:04,840 Daycare Fund. But that was a goodbye. It's a thousand 927 00:46:04,920 --> 00:46:07,440 turn time return and thank you, Zach. 928 00:46:08,239 --> 00:46:11,039 Speaker 3: Yeah, talk about the investment opportunity there. We missed one there, but. 929 00:46:11,119 --> 00:46:13,320 Speaker 1: Yeah, that's right. This is the Todd Herban Show. Please go, 930 00:46:13,519 --> 00:46:16,159 be well, be strong, be kind, Please make every effort 931 00:46:16,199 --> 00:46:17,360 to walk in the light of Christ.