WEBVTT 1 00:00:00.520 --> 00:00:02.839 So when I read things like this it says here 2 00:00:02.919 --> 00:00:07.559 the Fed just purchased twenty billion dollars in three year bonds. 3 00:00:07.759 --> 00:00:10.839 I think, you know what, I could call that dude 4 00:00:10.919 --> 00:00:13.519 who knows a guy from the store where he used 5 00:00:13.560 --> 00:00:16.320 to work and get an opinion, or maybe just a 6 00:00:16.440 --> 00:00:18.640 dude at the bank, or maybe someone who's a fund 7 00:00:18.640 --> 00:00:22.280 advisor but not a fiduciary. But no, I decided and 8 00:00:22.280 --> 00:00:24.719 said to call my friend and brother, zach Abraham into 9 00:00:24.719 --> 00:00:26.600 the studio. He is a fiduciary. He is the chief 10 00:00:26.600 --> 00:00:29.760 from decoxser of Browart Capital Management. He's ripped, he's ten, 11 00:00:29.879 --> 00:00:35.439 He's ready, he joins this courtesy of God Almighty, thank 12 00:00:35.479 --> 00:00:35.840 you link. 13 00:00:37.640 --> 00:00:41.159 But Todd Herman show is one hundred percent disapproved by 14 00:00:41.240 --> 00:00:49.280 big pharma technocrats and tyrant's everywhere from the high mountains 15 00:00:49.320 --> 00:00:57.320 of Free America. Here's the Emerald City exile Todd Herman. 16 00:00:58.039 --> 00:01:01.719 Today is the day to me in decent the times 17 00:01:01.759 --> 00:01:04.519 s which God has decided wished to live in. Zach Abraham, 18 00:01:04.599 --> 00:01:08.680 aforementioned afour pitched, joins us, so good to see you, 19 00:01:08.760 --> 00:01:09.719 my brother, welcome. 20 00:01:09.480 --> 00:01:12.239 Back, good to be back, good to be back. 21 00:01:12.680 --> 00:01:16.519 Let us start with a minor little story something here 22 00:01:16.599 --> 00:01:21.000 about the Federal Reserve purchasing twenty billion dollars in three 23 00:01:21.079 --> 00:01:24.400 year bonds. I can't imagine that has any significance. It's 24 00:01:24.439 --> 00:01:28.200 not like they're injecting liquidity to cut interest rates. It's 25 00:01:28.239 --> 00:01:31.760 not like it's q E ten billion, is it? All 26 00:01:31.799 --> 00:01:33.319 those things? 27 00:01:33.680 --> 00:01:37.920 Yeah, you know, I'll be honest with you. When I 28 00:01:37.920 --> 00:01:39.519 saw that headline is a little bit of a head 29 00:01:39.560 --> 00:01:44.200 scratcher to me, okay, And the reason why is because 30 00:01:45.280 --> 00:01:49.840 I don't so the FED meeting is happening right now 31 00:01:49.879 --> 00:01:52.879 as we speak, so Powell's i'm sure, explaining that, and 32 00:01:53.640 --> 00:01:55.760 our lead analyst is in there watching it, so as 33 00:01:55.799 --> 00:01:57.640 soon as I get off done with you, i'll know 34 00:01:57.719 --> 00:02:01.120 exactly what Powell said about it. The reason that was 35 00:02:01.159 --> 00:02:05.519 strange to me was because nobody's really worried about the 36 00:02:05.560 --> 00:02:07.200 front end of the curve. And what I mean by 37 00:02:07.200 --> 00:02:10.080 that is one one year bonds, two year, three year, 38 00:02:10.240 --> 00:02:10.719 five year. 39 00:02:12.960 --> 00:02:14.120 That's not the issue. 40 00:02:14.719 --> 00:02:17.479 The thing that everybody's been concerned about is the back end, 41 00:02:17.560 --> 00:02:18.840 so tens, twenties, and thirties. 42 00:02:21.039 --> 00:02:22.800 So if you would have told me that. 43 00:02:22.759 --> 00:02:26.680 The Fed bot twenty billion dollars worth of bonds, my 44 00:02:26.800 --> 00:02:28.599 guess is I would have guessed that it had been 45 00:02:28.599 --> 00:02:30.520 ten or thirty year treasuries. 46 00:02:30.840 --> 00:02:34.120 Why they're buying three I don't know. I don't know. 47 00:02:34.479 --> 00:02:35.080 I don't know. 48 00:02:35.000 --> 00:02:39.439 If that's them easing back into quantitative easing mode, because 49 00:02:39.439 --> 00:02:41.599 I do not think that we are going to get 50 00:02:41.599 --> 00:02:45.599 through the next year year and a half without serious 51 00:02:45.759 --> 00:02:53.280 interest rate cuts and probably running simultaneously quantitative easing. 52 00:02:53.360 --> 00:02:58.240 So maybe that's let's make sure quantitative easing is conjuring money. 53 00:02:59.080 --> 00:03:02.719 Yeah, so, so and and and it really is that simple, 54 00:03:02.759 --> 00:03:04.280 Todd Like, I'm glad you put it that way. It's 55 00:03:04.479 --> 00:03:06.919 this money isn't coming from somewhere, Matt, Like, it's not 56 00:03:06.919 --> 00:03:10.439 coming from anywhere real, right, They print the money. 57 00:03:10.599 --> 00:03:11.960 They they well, they don't print it. 58 00:03:12.080 --> 00:03:15.479 They push a button on their computer and put dollars 59 00:03:15.520 --> 00:03:18.560 in an account. They then take those dollars that they 60 00:03:18.680 --> 00:03:21.599 just created or conjured, as you said, and they buy 61 00:03:22.199 --> 00:03:23.520 treasuries from the banks. 62 00:03:24.240 --> 00:03:27.560 That's that's what they do. So I don't know. 63 00:03:27.800 --> 00:03:30.039 And the amount is kind of odd too, Like I 64 00:03:30.080 --> 00:03:34.560 said to me, there's it feels symbolic. I'm just not 65 00:03:34.759 --> 00:03:37.520 understanding exactly what kind of symbolism they're trying to get 66 00:03:37.520 --> 00:03:40.599 across here, other than the fact that they're to me maybe, 67 00:03:40.639 --> 00:03:42.599 And again that's why I'm interested to hear what Pal 68 00:03:42.639 --> 00:03:43.039 has to say. 69 00:03:43.080 --> 00:03:44.000 And now he explains it. 70 00:03:44.360 --> 00:03:48.080 But to me, it's probably most likely move to just 71 00:03:48.159 --> 00:03:50.520 reassure the markets and say the fat as you're back a. 72 00:03:50.599 --> 00:03:54.439 Can that's that's that's that's certainly from a financial explanation. 73 00:03:54.599 --> 00:03:59.479 I will always always uh seed you the expertise financially. 74 00:03:59.719 --> 00:04:02.800 Let me offer just a tiny little thought. So we 75 00:04:02.840 --> 00:04:09.000 had President Trump criticizing Powell, criticizing the FED, saying he's 76 00:04:09.439 --> 00:04:12.919 constantly late. He's pathetically late late to the party. Should 77 00:04:12.919 --> 00:04:14.879 be cutting interest rates now, should have done it ten 78 00:04:14.919 --> 00:04:19.360 weeks ago. He's late, Larry Powell. So I could see 79 00:04:19.360 --> 00:04:21.680 this is Pal going. You know what, I can do 80 00:04:21.720 --> 00:04:24.560 whatever I want to do. I can buy the front 81 00:04:24.639 --> 00:04:29.079 under the curve. I'm completely independent. When I conjure money. 82 00:04:29.079 --> 00:04:31.600 It's debt to the American people, but it's money to us. 83 00:04:32.040 --> 00:04:35.560 So you know, hey, don I don't work for you. 84 00:04:37.199 --> 00:04:37.560 Yeah. 85 00:04:37.720 --> 00:04:41.879 Yeah, he can the other thing too, though it could 86 00:04:41.920 --> 00:04:43.920 just as easily be the flip side of it. 87 00:04:44.040 --> 00:04:44.839 Okay. 88 00:04:45.360 --> 00:04:48.839 Yeah, And here's why I say that, because when you 89 00:04:48.879 --> 00:04:52.639 look at where the FED is and what they've communicated 90 00:04:52.680 --> 00:04:56.839 thus far, they have not met their own criteria that 91 00:04:57.000 --> 00:05:01.319 they have stated themselves for additional rate cuts. And when 92 00:05:01.360 --> 00:05:05.079 you consider where you're at right now in terms of 93 00:05:05.120 --> 00:05:09.000 where inflation is, where we're at in that battle, there is. 94 00:05:08.959 --> 00:05:10.800 A fear, and I think it should and I think. 95 00:05:10.720 --> 00:05:14.160 It's an appropriate fear by the FED to adjust rates 96 00:05:14.160 --> 00:05:19.959 too early and reignite inflation. So you, I think it 97 00:05:20.079 --> 00:05:24.800 probably is either your version or mine. I think that's 98 00:05:24.879 --> 00:05:28.040 probably what he occurred here. It's either him trying to 99 00:05:28.040 --> 00:05:30.560 show Trump I'll do whatever I want and asserting his independence, 100 00:05:31.279 --> 00:05:35.000 or it's him saying, look, we can't justify a rate 101 00:05:35.079 --> 00:05:38.120 cut right now, but we're very concerned by what's going on. 102 00:05:38.720 --> 00:05:40.720 So we're going to give kind of a rate. 103 00:05:40.560 --> 00:05:44.120 Cut light, if you will, a kind of a gentle 104 00:05:44.319 --> 00:05:46.560 caressing of the market, telling them what here. 105 00:05:47.560 --> 00:05:49.279 If people don't have the video version of the show, 106 00:05:49.319 --> 00:05:52.079 they just meant you, they just missed you, gently caressing 107 00:05:52.199 --> 00:05:55.279 Larry Powell is so, Larry, I love your curves and 108 00:05:55.560 --> 00:05:57.759 this smell of you. 109 00:05:57.879 --> 00:06:01.600 Yeah so, And that's that's that's what I think. It's 110 00:06:01.639 --> 00:06:02.720 either one of those two. 111 00:06:02.800 --> 00:06:06.040 My suspicion is it's the second meaning, this is an 112 00:06:06.079 --> 00:06:08.759 effort for them to say, look, we know that what 113 00:06:08.879 --> 00:06:14.000 is currently happening is probably restricting liquidity to some degree. 114 00:06:14.680 --> 00:06:20.399 It's it's certainly increasing friction and financial markets. We again, 115 00:06:20.519 --> 00:06:23.879 we haven't met our own stated criteria to start cutting yet. 116 00:06:24.160 --> 00:06:25.959 But what we'll do is we'll just do a little 117 00:06:26.000 --> 00:06:28.720 bond purchase, try to squeeze a little more liquidity into 118 00:06:28.759 --> 00:06:31.759 the system. But again, the fact he bought twenty billion 119 00:06:31.839 --> 00:06:34.079 and the fact that it were three years makes me 120 00:06:34.199 --> 00:06:37.120 believe it's more of a symbolic move, just reminding the 121 00:06:37.120 --> 00:06:38.120 markets that the Fed's there. 122 00:06:38.199 --> 00:06:41.040 Okay, fair enough, there is a there's an ad that's 123 00:06:41.040 --> 00:06:43.759 come out for and that. Man, this is smart. This 124 00:06:43.800 --> 00:06:47.160 is how you use a celebrity endorsement. Without using this celebrity, 125 00:06:47.480 --> 00:06:50.279 you only hint at the celebrity. And this happens to 126 00:06:50.319 --> 00:06:53.680 be a political celebrity, a celebrity, and someone who is 127 00:06:54.920 --> 00:06:58.160 antagonistic to everything that is right, proper, good and godly 128 00:06:58.199 --> 00:07:00.839 in America, and happens to be one of the most 129 00:07:01.199 --> 00:07:05.519 obviously corrupt public so called public officials ever. So I 130 00:07:05.560 --> 00:07:08.399 want to show this to Zach and run us through 131 00:07:08.399 --> 00:07:11.480 some of the inside lingo here and let's pieces s 132 00:07:11.480 --> 00:07:13.639 part together. But let me say something here. She represents 133 00:07:14.079 --> 00:07:18.399 a truly perverse and corrupt portion of a world where 134 00:07:18.399 --> 00:07:21.079 there are good people in There's some good people in politics. 135 00:07:21.120 --> 00:07:24.279 I was just down in a Benawah County, a Saint Mary's, Idaho. 136 00:07:24.360 --> 00:07:27.399 Those are good people. You know, former loggers. What's you know? 137 00:07:27.399 --> 00:07:29.040 How cool it is to meet a guy who's been 138 00:07:29.040 --> 00:07:30.839 a state rep for twelve years and prior to that 139 00:07:30.879 --> 00:07:33.399 he drove a logging truck and like on the weekends, 140 00:07:33.399 --> 00:07:35.480 he still drives them. You know what I'm saying. So 141 00:07:35.720 --> 00:07:38.680 love it. There is an industry, the supplement industry, and look, 142 00:07:38.720 --> 00:07:40.839 there are some snakes in that industry and they're in 143 00:07:40.920 --> 00:07:45.000 and out and they can hurt people. They sell junk products. 144 00:07:45.560 --> 00:07:48.160 Then there's bio Optimizers that has been in this for decades. 145 00:07:48.639 --> 00:07:51.959 Why do they last because they do the right thing. 146 00:07:52.720 --> 00:07:56.439 They just improved mass times. Literally, this is one of 147 00:07:56.439 --> 00:07:59.680 their benchmark products. This is a product I use to 148 00:08:00.040 --> 00:08:03.279 rely to digest proteins. And when I do that, that 149 00:08:03.399 --> 00:08:06.959 helps me not just not just be not bloated and 150 00:08:07.000 --> 00:08:10.279 not just sleep better, It helps maintain lean muscle because 151 00:08:10.319 --> 00:08:13.240 you are stewarding the lean muscle in your body. And 152 00:08:13.279 --> 00:08:15.879 it can even help you put on muscle because it 153 00:08:15.959 --> 00:08:18.560 breaks the proteins down better into amino acids, which is 154 00:08:18.600 --> 00:08:21.399 the building block of muscle. It's not protein. Amino acids 155 00:08:21.399 --> 00:08:25.000 are so it's Biptimises dot com slash tod promo code tod. 156 00:08:25.040 --> 00:08:27.600 You get tempercent off all their products and skip the 157 00:08:27.639 --> 00:08:30.720 thinking about it. If you care about muscle composition and 158 00:08:30.759 --> 00:08:32.879 stewarding the body, God gave you your lean muscle that 159 00:08:32.919 --> 00:08:36.279 you have now, just subscribe to mass Sims Bibtemises dot 160 00:08:36.279 --> 00:08:38.639 com slash tod promo code TOD. Mass sims is now 161 00:08:38.720 --> 00:08:42.159 thirty percent more potent Bibtemisers dot com slash todd promo 162 00:08:42.200 --> 00:08:44.480 code tod. And there's some of the good actors in this. Okay, 163 00:08:44.480 --> 00:08:48.960 so Zach. This is a company that see autopilots and 164 00:08:49.000 --> 00:08:52.320 I'm saying it join autopilots. I'm saying it because they 165 00:08:52.320 --> 00:08:55.120 did a smart thing. This is a great ad. And 166 00:08:55.320 --> 00:08:57.879 here it is. This is someone who looks a lot 167 00:08:58.000 --> 00:09:00.000 like well, I'll let you decide who she looks like. 168 00:09:00.279 --> 00:09:02.559 What is my perfect trade? I get the tip at 169 00:09:02.600 --> 00:09:06.039 three fifty eight. Market closes in two Do I buy Apple, Nope, 170 00:09:06.120 --> 00:09:09.159 I buy a defense contractor more subtle. Next day, war 171 00:09:09.200 --> 00:09:12.639 breaks out, stock triples. The Ethics Committee calls, how did 172 00:09:12.639 --> 00:09:15.840 you know? I say, gut feeling. They respect that. As 173 00:09:15.840 --> 00:09:18.639 I'm selling. A lobbyist walks in. He says, that was 174 00:09:18.679 --> 00:09:19.159 my intel. 175 00:09:19.440 --> 00:09:20.120 I say, was it. 176 00:09:20.320 --> 00:09:22.600 We spend the weekend at Camp David. No one's there. 177 00:09:22.759 --> 00:09:26.240 It's romantic. Monday market's back in session. I tell him 178 00:09:26.279 --> 00:09:28.440 to meet me in the Caymans, but I go to Switzerland. 179 00:09:28.639 --> 00:09:32.080 I don't trust him. Besides, tax laws are better. Thirty 180 00:09:32.159 --> 00:09:34.279 years later, I get a letter. I have a son. 181 00:09:34.639 --> 00:09:37.360 He runs the SEC. This is where the story gets interesting. 182 00:09:37.639 --> 00:09:39.360 I tell the lobbyist to meet me at the Lincoln 183 00:09:39.399 --> 00:09:42.679 Memorial midnight. Turns out he's been following my trades for years. 184 00:09:42.960 --> 00:09:46.080 Through Autopilot. It lets you invest like a politician without 185 00:09:46.080 --> 00:09:48.279 marrying one. He says he needs one more tip. I 186 00:09:48.320 --> 00:09:50.960 don't care. I don't show up. Flew to Singapore. That's 187 00:09:51.000 --> 00:09:54.279 where I set up. The shell company shoots. 188 00:09:54.000 --> 00:10:00.720 That the most gorgeous ads for a financial that you've 189 00:10:00.759 --> 00:10:01.200 ever seen. 190 00:10:01.840 --> 00:10:05.320 I said, yeah, that's brilliant. It's brilliant. I love it. 191 00:10:05.159 --> 00:10:11.279 It's absolutely brilliant and yeah, I just like and the 192 00:10:11.360 --> 00:10:16.200 fun Yeah, the funny thing about it is, I don't 193 00:10:16.240 --> 00:10:19.039 think it's I mean, you know, I'm sure there's some embellishments, 194 00:10:19.039 --> 00:10:20.440 but I don't think it's that far off. 195 00:10:21.399 --> 00:10:22.360 It's not that far off. 196 00:10:22.600 --> 00:10:26.000 I don't either. And even the part about the kid, 197 00:10:26.080 --> 00:10:29.840 and there's no there's no proof that this person who 198 00:10:29.919 --> 00:10:32.840 looks a lot like what's your name? Uh from San 199 00:10:32.879 --> 00:10:35.000 Francisco and she's got like a two hundred and fifty 200 00:10:35.039 --> 00:10:37.240 million networth and. 201 00:10:36.879 --> 00:10:39.639 Dance stan see yeah, dance something like that. 202 00:10:39.720 --> 00:10:44.960 Yeah, oh yeah, right the queen of the blow out 203 00:10:45.279 --> 00:10:47.480 where yeah, yeah, right during the COVID wherever you had 204 00:10:47.480 --> 00:10:48.279 to wear the mask shot? 205 00:10:48.399 --> 00:10:52.120 Oh Pelosi, yeah Pelosi, Yes, Nancy, I knew it was 206 00:10:52.159 --> 00:10:52.799 something like that. 207 00:10:53.000 --> 00:10:55.639 There's no proof that she has an illegitimate kid from 208 00:10:55.679 --> 00:10:57.519 a defense industry of lobby. It's but there's no proof 209 00:10:57.519 --> 00:11:00.759 that she doesn't. And that's a negative you should have 210 00:11:00.840 --> 00:11:05.159 to prove. Is it that murky? Is it that filthy? 211 00:11:05.639 --> 00:11:08.480 Because if I'm looking at the networks of these guys, 212 00:11:08.519 --> 00:11:11.159 I'm falling their trades. I'm just in the Nancy Polosi stock picker. 213 00:11:11.879 --> 00:11:14.679 Would they really do it that obvious? That every single 214 00:11:14.759 --> 00:11:15.840 human being can see it. 215 00:11:17.440 --> 00:11:20.039 What I can tell you is that if we put 216 00:11:20.159 --> 00:11:23.000 up similar returns, we'd have the sec all over us. 217 00:11:23.519 --> 00:11:29.120 And seriously, yeah, and and and it's it's it literally 218 00:11:29.240 --> 00:11:32.879 is here's and here's the thing people need to understand 219 00:11:32.919 --> 00:11:33.559 about investing. 220 00:11:33.600 --> 00:11:35.080 And when you say stuff like this, people. 221 00:11:34.840 --> 00:11:37.639 Are kind of like, well, you don't know that when 222 00:11:37.679 --> 00:11:42.320 you look at somebody that generates the kind of returns 223 00:11:42.360 --> 00:11:45.240 that these people do year in and year out in 224 00:11:45.399 --> 00:11:49.879 excess of market returns, one of two things has to 225 00:11:49.919 --> 00:11:50.279 be true. 226 00:11:51.360 --> 00:11:52.799 These people are either on. 227 00:11:52.919 --> 00:11:56.200 The level of a stand Ruck and Miller a buffet 228 00:11:56.320 --> 00:11:59.759 or like Jim Simon's at Renaissance Technology, which you know, 229 00:11:59.799 --> 00:12:01.480 I just described three of the best people to ever 230 00:12:01.519 --> 00:12:02.519 manage money in history. 231 00:12:04.480 --> 00:12:06.320 Or it's fraud. 232 00:12:09.159 --> 00:12:12.120 That's pretty simple, just yeah, just plain and simple and 233 00:12:12.120 --> 00:12:16.440 and a good analogy of this, a good way to understand. 234 00:12:16.480 --> 00:12:21.600 This is one of the hallmarks of Bernie. Uh why 235 00:12:21.639 --> 00:12:25.639 am I Bernie made off? Bernie made of one of 236 00:12:25.639 --> 00:12:29.279 the hallmarks of that whole deal. It wasn't the amounts 237 00:12:29.320 --> 00:12:33.679 that he was making. It was the lack of volatility, 238 00:12:33.759 --> 00:12:36.840 the smooth returns. Now, now their returns aren't the same. 239 00:12:36.840 --> 00:12:40.000 But I'm using this as an analogy, and guy like, 240 00:12:40.639 --> 00:12:44.440 yeah pyramid, yeah yeah, his was just straight fraud, I 241 00:12:44.440 --> 00:12:47.039 mean straight Ponzi's scheme, like it wasn't even investing the 242 00:12:47.039 --> 00:12:48.879 money and the things he said he was investing it in. 243 00:12:49.639 --> 00:12:51.799 But the way you could tell is when I look 244 00:12:51.840 --> 00:12:52.639 at returns. 245 00:12:53.080 --> 00:12:56.639 I can't just look at somebody's returns automatically and go, okay, 246 00:12:56.840 --> 00:12:59.679 that's fraudulent. But but when I look at the returns 247 00:12:59.679 --> 00:13:02.159 and I don't don't see any volatility, that is a tell. 248 00:13:02.600 --> 00:13:02.840 Okay. 249 00:13:03.240 --> 00:13:07.279 And meanwhile, and why because you know, look at a 250 00:13:07.320 --> 00:13:09.399 look go look at a company like Nvidia when it 251 00:13:09.440 --> 00:13:12.720 went on its great run. Yeah, okay, it had days 252 00:13:12.879 --> 00:13:15.039 where it got smacked. It had weeks where it was 253 00:13:15.080 --> 00:13:17.840 down ten to fifteen percent, right, and yet you go 254 00:13:17.879 --> 00:13:19.240 to the end of it, and if you held on 255 00:13:19.279 --> 00:13:19.960 that whole time, you. 256 00:13:19.919 --> 00:13:20.519 Made a pile. 257 00:13:20.960 --> 00:13:21.159 Right. 258 00:13:22.360 --> 00:13:25.360 Those types of there's no trader in the world that 259 00:13:25.440 --> 00:13:28.080 can that can anticipate that type of volatility on a 260 00:13:28.159 --> 00:13:29.960 daily day, on a daily basis. 261 00:13:30.000 --> 00:13:30.159 Right. 262 00:13:30.559 --> 00:13:33.799 So when you see smooth returns, the same is true 263 00:13:33.840 --> 00:13:36.759 when you see somebody that doesn't have. 264 00:13:38.360 --> 00:13:40.919 Like for instance, they're not somebody like stand Ruck and 265 00:13:40.960 --> 00:13:43.039 Miller that has a history of making these. 266 00:13:42.919 --> 00:13:44.159 Trades and doing these things. 267 00:13:44.639 --> 00:13:47.639 They don't have a software setup or a computer setup 268 00:13:47.679 --> 00:13:51.679 like Jim Simon's does at Renaissance Technology that helps explain that. 269 00:13:52.200 --> 00:13:54.240 And yet you've got market. 270 00:13:53.840 --> 00:13:58.919 Beating returns with fantastically timed trades all over the place. 271 00:13:59.559 --> 00:14:02.759 It just I like, if you just looked at that 272 00:14:02.960 --> 00:14:04.799 on the surface of it, somebody that knew what they 273 00:14:04.799 --> 00:14:07.200 were doing, anybody would they would just go something's off here. 274 00:14:07.360 --> 00:14:10.200 Okay, now let me get to a specific here, because 275 00:14:10.200 --> 00:14:11.879 I want to make sure people understand this. I know 276 00:14:11.919 --> 00:14:15.360 what you're saying is true obviously, and I know it 277 00:14:15.360 --> 00:14:17.480 makes sense, but let me I want people to understand this. 278 00:14:18.039 --> 00:14:19.840 If you and I let's say that we're down in 279 00:14:19.879 --> 00:14:23.679 Mexico together, Okay, we're hanging out. Let's say we're having 280 00:14:23.720 --> 00:14:26.279 dinner and gentlemen sits down and says, say, mind if 281 00:14:26.279 --> 00:14:28.279 I join you? Right, And so it's a public place. Hey, yes, 282 00:14:28.320 --> 00:14:31.120 you have a seat reving tacos. We start to visit, 283 00:14:31.399 --> 00:14:33.840 and turns out let's say that he is a let's 284 00:14:33.840 --> 00:14:36.480 say he's a pharma exec, you know, so he looks 285 00:14:36.519 --> 00:14:40.440 at me. I'm suddenly suicided. Sorry, I mean not really, 286 00:14:40.480 --> 00:14:42.480 because you know, Farmer loves me. But let's say we 287 00:14:42.519 --> 00:14:45.039 sit and listen, and he says, yeah, you know what, 288 00:14:45.480 --> 00:14:48.639 I work for a pharmaceutic pharmaceutsic company, a you know 289 00:14:48.639 --> 00:14:51.919 a funny thing. On Monday, we are releasing a drug 290 00:14:52.000 --> 00:14:56.279 that has been proven secure lung cancer. And here's the 291 00:14:56.320 --> 00:14:59.039 you know, the profile, the safety profile. And he says 292 00:14:59.080 --> 00:15:01.279 that to us. Now, I could walk out of there, Zach, 293 00:15:02.080 --> 00:15:04.679 and I could, I guess, go purchase stock in that 294 00:15:04.759 --> 00:15:07.159 company if I believe that what this guy's saying. And 295 00:15:07.200 --> 00:15:10.559 I'm okay. But if you went back and, as a 296 00:15:10.639 --> 00:15:13.639 fiduciary and a fund manager at Bulwark, if you started 297 00:15:13.639 --> 00:15:16.879 to use that inside information, are you at that point 298 00:15:16.919 --> 00:15:19.240 in trouble or is that casual enough that you're okay? 299 00:15:21.120 --> 00:15:23.399 What did he so remind me? Did he give me 300 00:15:23.519 --> 00:15:25.000 any material information? 301 00:15:25.240 --> 00:15:28.039 Yes? So he said, we're releasing this on Monday. Here's 302 00:15:28.039 --> 00:15:30.720 the safety profile, some of the testing. Let me show 303 00:15:30.720 --> 00:15:33.080 you on my phone and say, I'll text you some 304 00:15:33.159 --> 00:15:35.679 things and you can look at it yourself. 305 00:15:36.480 --> 00:15:38.320 You you both you and I can't do that? 306 00:15:38.399 --> 00:15:42.360 Wait I can't in No, nope, nope, just a dude 307 00:15:42.360 --> 00:15:44.399 from Idaho with a podcast and a couple of national 308 00:15:44.480 --> 00:15:44.960 radio shows. 309 00:15:45.039 --> 00:15:49.200 I can't yep the second the second that news release 310 00:15:49.320 --> 00:15:52.519 is out, you can act, but not one second prior 311 00:15:52.559 --> 00:15:52.759 to that. 312 00:15:52.879 --> 00:15:56.159 Wait wait wait, wait wait, I thought that applied to you, 313 00:15:56.559 --> 00:15:59.039 but not just ordinary shoe that I happened to come 314 00:15:59.080 --> 00:15:59.679 across something. 315 00:16:00.080 --> 00:16:00.440 Okay. 316 00:16:00.799 --> 00:16:03.080 If I'm on an airplane and I'm sitting next to 317 00:16:03.120 --> 00:16:05.639 that guy and he's not good at OPSEC and he's 318 00:16:05.679 --> 00:16:07.679 working on stuff, and I happen to look over an 319 00:16:07.759 --> 00:16:10.320 eagle eye and I'm spying, and I realized, oh wow, 320 00:16:10.320 --> 00:16:12.679 that drug's coming out Monday. They have a press release. 321 00:16:13.039 --> 00:16:15.120 That safety profile looks solid. If I took that and 322 00:16:15.159 --> 00:16:18.080 bought it, then I'm just a spy and I'm okay 323 00:16:18.360 --> 00:16:22.799 because he didn't give it to me. Wait wait, wait, no, 324 00:16:22.840 --> 00:16:24.320 it's not yep. 325 00:16:25.600 --> 00:16:27.279 That's because it's no public information. 326 00:16:28.519 --> 00:16:36.480 That's illegal. Yeah, well they do this, they're told these things. 327 00:16:36.919 --> 00:16:39.240 Yeah yeah, no, no, Look, and we've got all the 328 00:16:39.240 --> 00:16:41.759 transcripts in the proof. Remember it's the people coming out 329 00:16:41.759 --> 00:16:44.200 of the Banking Committee meetings in O eight, O nine, 330 00:16:44.320 --> 00:16:47.320 And within five minutes leaving the Banking Subcommittee meeting, they're 331 00:16:47.360 --> 00:16:48.879 all selling their financial stocks. 332 00:16:49.480 --> 00:16:49.679 Right. 333 00:16:49.799 --> 00:16:52.960 I've told the story very often, so I'll give the 334 00:16:53.000 --> 00:16:59.759 short version. I was in DC and Barney Frank, Congressman Frank, 335 00:17:00.600 --> 00:17:04.400 was giving a speech before me. Congressman Frank was asked 336 00:17:04.400 --> 00:17:09.480 a question. It was to DC powerbrokers, colms guys, VP, comms, 337 00:17:09.599 --> 00:17:16.160 spin doctors, PR firm heads, journalists, and someone raised their 338 00:17:16.200 --> 00:17:19.279 hand and Frank called on them and he said, yeah, Congressman, 339 00:17:20.279 --> 00:17:22.200 you know there was a discussion this morning about Greek 340 00:17:22.200 --> 00:17:24.160 bonds and committee. Can you tell us where that went? 341 00:17:24.960 --> 00:17:29.039 Barney Frank, Well, you know, I can't really disclose that information. 342 00:17:29.079 --> 00:17:32.200 It's part Fauci, part Barney Frank. I can't really, you know, 343 00:17:32.359 --> 00:17:34.720 disclose that, but I would say this, if I were 344 00:17:34.759 --> 00:17:37.039 a rich man, I would be buying Greek bonds because 345 00:17:37.039 --> 00:17:38.920 as of about a half hour ago, Greece is a 346 00:17:39.000 --> 00:17:44.240 visually too big to fail. So he says this. I 347 00:17:44.319 --> 00:17:47.880 get up and I'm my friend Trevor had me there, 348 00:17:47.920 --> 00:17:50.920 and I get to the microphone. I've got my BlackBerry out. 349 00:17:51.000 --> 00:17:54.079 I go, I'm so sorry. I know this is very 350 00:17:54.200 --> 00:17:59.359 very rude. I'm so sorry. I apologize typing away. I'm sorry. 351 00:17:59.359 --> 00:18:02.640 Just one more minute, okay, all right, I just bought 352 00:18:02.839 --> 00:18:05.400 Greek bonds. Let's hear it for insider Trading and Congressman 353 00:18:05.440 --> 00:18:09.359 Barney Frank. Here everybody insider trading and Congressman Frank. And 354 00:18:09.519 --> 00:18:11.440 the room starts to plot and Barney Frank is in 355 00:18:11.480 --> 00:18:13.079 the back of the room and he gives me the 356 00:18:14.519 --> 00:18:17.279 and he gives me the he hated my guts. I 357 00:18:17.319 --> 00:18:19.599 confronted him another time because he was triple park because 358 00:18:19.599 --> 00:18:21.839 he's going into a liquor store and he told me 359 00:18:22.000 --> 00:18:24.680 f off because they said, hey, Congressman, you're blocking the 360 00:18:24.680 --> 00:18:27.839 little people's getting the work. You're triple parked. So he's 361 00:18:27.880 --> 00:18:29.440 in the back of the room and the room is 362 00:18:29.519 --> 00:18:33.319 legitimately applauding, let's hear it for insider trading and Congressman Frank. 363 00:18:33.359 --> 00:18:36.720 And then they're plotting and somebody goes, idiots, he's making 364 00:18:36.720 --> 00:18:37.319 fun of us. 365 00:18:38.039 --> 00:18:42.839 Yeah, well, I was gonna say, if I would have 366 00:18:42.880 --> 00:18:45.240 got flipped off by Barney Frank, I would have hoped 367 00:18:45.240 --> 00:18:47.640 somebody would have caught it on film because I'd have 368 00:18:47.720 --> 00:18:50.599 taken that image and put it on a T shirt 369 00:18:50.799 --> 00:18:53.519 and warn it with pride. I got flipped off by 370 00:18:53.559 --> 00:18:56.720 Barney Frank, I would have been I would even proud. 371 00:18:56.839 --> 00:18:59.400 That's a bad. That's a bad to honor my friend. 372 00:18:59.559 --> 00:19:02.680 Well, I thank you for that. And my friend Trevor 373 00:19:02.759 --> 00:19:05.319 wasn't a fan of what I did, but they were 374 00:19:05.480 --> 00:19:06.000 plotting it. 375 00:19:06.279 --> 00:19:09.440 So okay, Zach, so let me let me let me 376 00:19:09.440 --> 00:19:11.799 throw something, all even all throw something. I'll give you 377 00:19:11.839 --> 00:19:13.799 a real life scenario exactly what I'm talking about. 378 00:19:13.839 --> 00:19:18.599 Okay, dude, that okay, yet, watch this. I have some 379 00:19:18.680 --> 00:19:23.319 inside information on bone Frog Coffee. Okay, listen now, listen up. 380 00:19:24.839 --> 00:19:29.640 So Tim created the Golden Edge bag to you know, 381 00:19:29.759 --> 00:19:33.960 care for the Trump economy. It's going away. So here's 382 00:19:34.000 --> 00:19:36.440 the deal. Yeah, I know, it's a limited time. It's 383 00:19:36.440 --> 00:19:38.920 a beautiful bag. It recognizes the Trump economy is called 384 00:19:38.920 --> 00:19:41.799 Golden Age, and it's limited time, and the time is 385 00:19:41.839 --> 00:19:44.599 coming to a close. So you and I we could 386 00:19:44.799 --> 00:19:46.480 corner the market. We could buy a bunch of this 387 00:19:46.559 --> 00:19:48.559 and resell it at a markup and a profit. We 388 00:19:48.599 --> 00:19:51.680 could probably sell something back to Tim. So it's Bonefrog 389 00:19:51.720 --> 00:19:54.799 Coffee dot com slash Todd promo code Todd use Homo 390 00:19:54.839 --> 00:19:56.880 coode Todd to get teen percent a first purchase fifteen 391 00:19:56.880 --> 00:20:00.559 percent off subscription coffee. It's Golden Age all right, make sure. 392 00:20:00.839 --> 00:20:03.920 In fact, Alex removed that later from the show because 393 00:20:03.960 --> 00:20:05.960 I wanted Zach and I to have just the inside. 394 00:20:07.759 --> 00:20:09.039 I'm calling my trader. 395 00:20:08.759 --> 00:20:09.839 All right, you're on the phone. 396 00:20:10.079 --> 00:20:12.720 Yeah, Blue Horseshoe loves bone Frog cotton. 397 00:20:13.079 --> 00:20:13.960 Yeah, is it? 398 00:20:13.960 --> 00:20:16.599 Blue Horseshoe loves Andy cutt of steel, all right, Endicott 399 00:20:16.640 --> 00:20:17.599 steel and Cite steel. 400 00:20:17.599 --> 00:20:20.240 So so take me through what you were gonna say. 401 00:20:20.400 --> 00:20:22.359