Speaker 1: So when I read things like this it says here
Speaker 1: the Fed just purchased twenty billion dollars in three year bonds.
Speaker 1: I think, you know what, I could call that dude
Speaker 1: who knows a guy from the store where he used
Speaker 1: to work and get an opinion, or maybe just a
Speaker 1: dude at the bank, or maybe someone who's a fund
Speaker 1: advisor but not a fiduciary. But no, I decided and
Speaker 1: said to call my friend and brother, zach Abraham into
Speaker 1: the studio. He is a fiduciary. He is the chief
Speaker 1: from decoxser of Browart Capital Management. He's ripped, he's ten,
Speaker 1: He's ready, he joins this courtesy of God Almighty, thank
Speaker 1: you link.
Speaker 2: But Todd Herman show is one hundred percent disapproved by
Speaker 2: big pharma technocrats and tyrant's everywhere from the high mountains
Speaker 2: of Free America. Here's the Emerald City exile Todd Herman.
Speaker 1: Today is the day to me in decent the times
Speaker 1: s which God has decided wished to live in. Zach Abraham,
Speaker 1: aforementioned afour pitched, joins us, so good to see you,
Speaker 1: my brother, welcome.
Speaker 3: Back, good to be back, good to be back.
Speaker 1: Let us start with a minor little story something here
Speaker 1: about the Federal Reserve purchasing twenty billion dollars in three
Speaker 1: year bonds. I can't imagine that has any significance. It's
Speaker 1: not like they're injecting liquidity to cut interest rates. It's
Speaker 1: not like it's q E ten billion, is it? All
Speaker 1: those things?
Speaker 4: Yeah, you know, I'll be honest with you. When I
Speaker 4: saw that headline is a little bit of a head
Speaker 4: scratcher to me, okay, And the reason why is because
Speaker 4: I don't so the FED meeting is happening right now
Speaker 4: as we speak, so Powell's i'm sure, explaining that, and
Speaker 4: our lead analyst is in there watching it, so as
Speaker 4: soon as I get off done with you, i'll know
Speaker 4: exactly what Powell said about it. The reason that was
Speaker 4: strange to me was because nobody's really worried about the
Speaker 4: front end of the curve. And what I mean by
Speaker 4: that is one one year bonds, two year, three year,
Speaker 4: five year.
Speaker 3: That's not the issue.
Speaker 4: The thing that everybody's been concerned about is the back end,
Speaker 4: so tens, twenties, and thirties.
Speaker 3: So if you would have told me that.
Speaker 4: The Fed bot twenty billion dollars worth of bonds, my
Speaker 4: guess is I would have guessed that it had been
Speaker 4: ten or thirty year treasuries.
Speaker 3: Why they're buying three I don't know. I don't know.
Speaker 3: I don't know.
Speaker 4: If that's them easing back into quantitative easing mode, because
Speaker 4: I do not think that we are going to get
Speaker 4: through the next year year and a half without serious
Speaker 4: interest rate cuts and probably running simultaneously quantitative easing.
Speaker 1: So maybe that's let's make sure quantitative easing is conjuring money.
Speaker 4: Yeah, so, so and and and it really is that simple,
Speaker 4: Todd Like, I'm glad you put it that way. It's
Speaker 4: this money isn't coming from somewhere, Matt, Like, it's not
Speaker 4: coming from anywhere real, right, They print the money.
Speaker 3: They they well, they don't print it.
Speaker 4: They push a button on their computer and put dollars
Speaker 4: in an account. They then take those dollars that they
Speaker 4: just created or conjured, as you said, and they buy
Speaker 4: treasuries from the banks.
Speaker 3: That's that's what they do. So I don't know.
Speaker 4: And the amount is kind of odd too, Like I
Speaker 4: said to me, there's it feels symbolic. I'm just not
Speaker 4: understanding exactly what kind of symbolism they're trying to get
Speaker 4: across here, other than the fact that they're to me maybe,
Speaker 4: And again that's why I'm interested to hear what Pal
Speaker 4: has to say.
Speaker 3: And now he explains it.
Speaker 4: But to me, it's probably most likely move to just
Speaker 4: reassure the markets and say the fat as you're back a.
Speaker 1: Can that's that's that's that's certainly from a financial explanation.
Speaker 1: I will always always uh seed you the expertise financially.
Speaker 1: Let me offer just a tiny little thought. So we
Speaker 1: had President Trump criticizing Powell, criticizing the FED, saying he's
Speaker 1: constantly late. He's pathetically late late to the party. Should
Speaker 1: be cutting interest rates now, should have done it ten
Speaker 1: weeks ago. He's late, Larry Powell. So I could see
Speaker 1: this is Pal going. You know what, I can do
Speaker 1: whatever I want to do. I can buy the front
Speaker 1: under the curve. I'm completely independent. When I conjure money.
Speaker 1: It's debt to the American people, but it's money to us.
Speaker 1: So you know, hey, don I don't work for you.
Speaker 3: Yeah.
Speaker 4: Yeah, he can the other thing too, though it could
Speaker 4: just as easily be the flip side of it.
Speaker 3: Okay.
Speaker 4: Yeah, And here's why I say that, because when you
Speaker 4: look at where the FED is and what they've communicated
Speaker 4: thus far, they have not met their own criteria that
Speaker 4: they have stated themselves for additional rate cuts. And when
Speaker 4: you consider where you're at right now in terms of
Speaker 4: where inflation is, where we're at in that battle, there is.
Speaker 3: A fear, and I think it should and I think.
Speaker 4: It's an appropriate fear by the FED to adjust rates
Speaker 4: too early and reignite inflation. So you, I think it
Speaker 4: probably is either your version or mine. I think that's
Speaker 4: probably what he occurred here. It's either him trying to
Speaker 4: show Trump I'll do whatever I want and asserting his independence,
Speaker 4: or it's him saying, look, we can't justify a rate
Speaker 4: cut right now, but we're very concerned by what's going on.
Speaker 3: So we're going to give kind of a rate.
Speaker 4: Cut light, if you will, a kind of a gentle
Speaker 4: caressing of the market, telling them what here.
Speaker 1: If people don't have the video version of the show,
Speaker 1: they just meant you, they just missed you, gently caressing
Speaker 1: Larry Powell is so, Larry, I love your curves and
Speaker 1: this smell of you.
Speaker 3: Yeah so, And that's that's that's what I think. It's
Speaker 3: either one of those two.
Speaker 4: My suspicion is it's the second meaning, this is an
Speaker 4: effort for them to say, look, we know that what
Speaker 4: is currently happening is probably restricting liquidity to some degree.
Speaker 4: It's it's certainly increasing friction and financial markets. We again,
Speaker 4: we haven't met our own stated criteria to start cutting yet.
Speaker 4: But what we'll do is we'll just do a little
Speaker 4: bond purchase, try to squeeze a little more liquidity into
Speaker 4: the system. But again, the fact he bought twenty billion
Speaker 4: and the fact that it were three years makes me
Speaker 4: believe it's more of a symbolic move, just reminding the
Speaker 4: markets that the Fed's there.
Speaker 1: Okay, fair enough, there is a there's an ad that's
Speaker 1: come out for and that. Man, this is smart. This
Speaker 1: is how you use a celebrity endorsement. Without using this celebrity,
Speaker 1: you only hint at the celebrity. And this happens to
Speaker 1: be a political celebrity, a celebrity, and someone who is
Speaker 1: antagonistic to everything that is right, proper, good and godly
Speaker 1: in America, and happens to be one of the most
Speaker 1: obviously corrupt public so called public officials ever. So I
Speaker 1: want to show this to Zach and run us through
Speaker 1: some of the inside lingo here and let's pieces s
Speaker 1: part together. But let me say something here. She represents
Speaker 1: a truly perverse and corrupt portion of a world where
Speaker 1: there are good people in There's some good people in politics.
Speaker 1: I was just down in a Benawah County, a Saint Mary's, Idaho.
Speaker 1: Those are good people. You know, former loggers. What's you know?
Speaker 1: How cool it is to meet a guy who's been
Speaker 1: a state rep for twelve years and prior to that
Speaker 1: he drove a logging truck and like on the weekends,
Speaker 1: he still drives them. You know what I'm saying. So
Speaker 1: love it. There is an industry, the supplement industry, and look,
Speaker 1: there are some snakes in that industry and they're in
Speaker 1: and out and they can hurt people. They sell junk products.
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Speaker 1: code tod. And there's some of the good actors in this. Okay,
Speaker 1: so Zach. This is a company that see autopilots and
Speaker 1: I'm saying it join autopilots. I'm saying it because they
Speaker 1: did a smart thing. This is a great ad. And
Speaker 1: here it is. This is someone who looks a lot
Speaker 1: like well, I'll let you decide who she looks like.
Speaker 5: What is my perfect trade? I get the tip at
Speaker 5: three fifty eight. Market closes in two Do I buy Apple, Nope,
Speaker 5: I buy a defense contractor more subtle. Next day, war
Speaker 5: breaks out, stock triples. The Ethics Committee calls, how did
Speaker 5: you know? I say, gut feeling. They respect that. As
Speaker 5: I'm selling. A lobbyist walks in. He says, that was
Speaker 5: my intel.
Speaker 3: I say, was it.
Speaker 5: We spend the weekend at Camp David. No one's there.
Speaker 5: It's romantic. Monday market's back in session. I tell him
Speaker 5: to meet me in the Caymans, but I go to Switzerland.
Speaker 5: I don't trust him. Besides, tax laws are better. Thirty
Speaker 5: years later, I get a letter. I have a son.
Speaker 5: He runs the SEC. This is where the story gets interesting.
Speaker 5: I tell the lobbyist to meet me at the Lincoln
Speaker 5: Memorial midnight. Turns out he's been following my trades for years.
Speaker 5: Through Autopilot. It lets you invest like a politician without
Speaker 5: marrying one. He says he needs one more tip. I
Speaker 5: don't care. I don't show up. Flew to Singapore. That's
Speaker 5: where I set up. The shell company shoots.
Speaker 1: That the most gorgeous ads for a financial that you've
Speaker 1: ever seen.
Speaker 3: I said, yeah, that's brilliant. It's brilliant. I love it.
Speaker 4: It's absolutely brilliant and yeah, I just like and the
Speaker 4: fun Yeah, the funny thing about it is, I don't
Speaker 4: think it's I mean, you know, I'm sure there's some embellishments,
Speaker 4: but I don't think it's that far off.
Speaker 3: It's not that far off.
Speaker 1: I don't either. And even the part about the kid,
Speaker 1: and there's no there's no proof that this person who
Speaker 1: looks a lot like what's your name? Uh from San
Speaker 1: Francisco and she's got like a two hundred and fifty
Speaker 1: million networth and.
Speaker 3: Dance stan see yeah, dance something like that.
Speaker 1: Yeah, oh yeah, right the queen of the blow out
Speaker 1: where yeah, yeah, right during the COVID wherever you had
Speaker 1: to wear the mask shot?
Speaker 4: Oh Pelosi, yeah Pelosi, Yes, Nancy, I knew it was
Speaker 4: something like that.
Speaker 1: There's no proof that she has an illegitimate kid from
Speaker 1: a defense industry of lobby. It's but there's no proof
Speaker 1: that she doesn't. And that's a negative you should have
Speaker 1: to prove. Is it that murky? Is it that filthy?
Speaker 1: Because if I'm looking at the networks of these guys,
Speaker 1: I'm falling their trades. I'm just in the Nancy Polosi stock picker.
Speaker 1: Would they really do it that obvious? That every single
Speaker 1: human being can see it.
Speaker 4: What I can tell you is that if we put
Speaker 4: up similar returns, we'd have the sec all over us.
Speaker 4: And seriously, yeah, and and and it's it's it literally
Speaker 4: is here's and here's the thing people need to understand
Speaker 4: about investing.
Speaker 3: And when you say stuff like this, people.
Speaker 4: Are kind of like, well, you don't know that when
Speaker 4: you look at somebody that generates the kind of returns
Speaker 4: that these people do year in and year out in
Speaker 4: excess of market returns, one of two things has to
Speaker 4: be true.
Speaker 3: These people are either on.
Speaker 4: The level of a stand Ruck and Miller a buffet
Speaker 4: or like Jim Simon's at Renaissance Technology, which you know,
Speaker 4: I just described three of the best people to ever
Speaker 4: manage money in history.
Speaker 3: Or it's fraud.
Speaker 4: That's pretty simple, just yeah, just plain and simple and
Speaker 4: and a good analogy of this, a good way to understand.
Speaker 4: This is one of the hallmarks of Bernie. Uh why
Speaker 4: am I Bernie made off? Bernie made of one of
Speaker 4: the hallmarks of that whole deal. It wasn't the amounts
Speaker 4: that he was making. It was the lack of volatility,
Speaker 4: the smooth returns. Now, now their returns aren't the same.
Speaker 4: But I'm using this as an analogy, and guy like,
Speaker 4: yeah pyramid, yeah yeah, his was just straight fraud, I
Speaker 4: mean straight Ponzi's scheme, like it wasn't even investing the
Speaker 4: money and the things he said he was investing it in.
Speaker 3: But the way you could tell is when I look
Speaker 3: at returns.
Speaker 4: I can't just look at somebody's returns automatically and go, okay,
Speaker 4: that's fraudulent. But but when I look at the returns
Speaker 4: and I don't don't see any volatility, that is a tell.
Speaker 2: Okay.
Speaker 4: And meanwhile, and why because you know, look at a
Speaker 4: look go look at a company like Nvidia when it
Speaker 4: went on its great run. Yeah, okay, it had days
Speaker 4: where it got smacked. It had weeks where it was
Speaker 4: down ten to fifteen percent, right, and yet you go
Speaker 4: to the end of it, and if you held on
Speaker 4: that whole time, you.
Speaker 3: Made a pile.
Speaker 2: Right.
Speaker 4: Those types of there's no trader in the world that
Speaker 4: can that can anticipate that type of volatility on a
Speaker 4: daily day, on a daily basis.
Speaker 2: Right.
Speaker 3: So when you see smooth returns, the same is true
Speaker 3: when you see somebody that doesn't have.
Speaker 4: Like for instance, they're not somebody like stand Ruck and
Speaker 4: Miller that has a history of making these.
Speaker 3: Trades and doing these things.
Speaker 4: They don't have a software setup or a computer setup
Speaker 4: like Jim Simon's does at Renaissance Technology that helps explain that.
Speaker 3: And yet you've got market.
Speaker 4: Beating returns with fantastically timed trades all over the place.
Speaker 4: It just I like, if you just looked at that
Speaker 4: on the surface of it, somebody that knew what they
Speaker 4: were doing, anybody would they would just go something's off here.
Speaker 1: Okay, now let me get to a specific here, because
Speaker 1: I want to make sure people understand this. I know
Speaker 1: what you're saying is true obviously, and I know it
Speaker 1: makes sense, but let me I want people to understand this.
Speaker 1: If you and I let's say that we're down in
Speaker 1: Mexico together, Okay, we're hanging out. Let's say we're having
Speaker 1: dinner and gentlemen sits down and says, say, mind if
Speaker 1: I join you? Right, And so it's a public place. Hey, yes,
Speaker 1: you have a seat reving tacos. We start to visit,
Speaker 1: and turns out let's say that he is a let's
Speaker 1: say he's a pharma exec, you know, so he looks
Speaker 1: at me. I'm suddenly suicided. Sorry, I mean not really,
Speaker 1: because you know, Farmer loves me. But let's say we
Speaker 1: sit and listen, and he says, yeah, you know what,
Speaker 1: I work for a pharmaceutic pharmaceutsic company, a you know
Speaker 1: a funny thing. On Monday, we are releasing a drug
Speaker 1: that has been proven secure lung cancer. And here's the
Speaker 1: you know, the profile, the safety profile. And he says
Speaker 1: that to us. Now, I could walk out of there, Zach,
Speaker 1: and I could, I guess, go purchase stock in that
Speaker 1: company if I believe that what this guy's saying. And
Speaker 1: I'm okay. But if you went back and, as a
Speaker 1: fiduciary and a fund manager at Bulwark, if you started
Speaker 1: to use that inside information, are you at that point
Speaker 1: in trouble or is that casual enough that you're okay?
Speaker 4: What did he so remind me? Did he give me
Speaker 4: any material information?
Speaker 1: Yes? So he said, we're releasing this on Monday. Here's
Speaker 1: the safety profile, some of the testing. Let me show
Speaker 1: you on my phone and say, I'll text you some
Speaker 1: things and you can look at it yourself.
Speaker 3: You you both you and I can't do that?
Speaker 1: Wait I can't in No, nope, nope, just a dude
Speaker 1: from Idaho with a podcast and a couple of national
Speaker 1: radio shows.
Speaker 4: I can't yep the second the second that news release
Speaker 4: is out, you can act, but not one second prior
Speaker 4: to that.
Speaker 1: Wait wait wait, wait wait, I thought that applied to you,
Speaker 1: but not just ordinary shoe that I happened to come
Speaker 1: across something.
Speaker 3: Okay.
Speaker 1: If I'm on an airplane and I'm sitting next to
Speaker 1: that guy and he's not good at OPSEC and he's
Speaker 1: working on stuff, and I happen to look over an
Speaker 1: eagle eye and I'm spying, and I realized, oh wow,
Speaker 1: that drug's coming out Monday. They have a press release.
Speaker 1: That safety profile looks solid. If I took that and
Speaker 1: bought it, then I'm just a spy and I'm okay
Speaker 1: because he didn't give it to me. Wait wait, wait, no,
Speaker 1: it's not yep.
Speaker 3: That's because it's no public information.
Speaker 1: That's illegal. Yeah, well they do this, they're told these things.
Speaker 4: Yeah yeah, no, no, Look, and we've got all the
Speaker 4: transcripts in the proof. Remember it's the people coming out
Speaker 4: of the Banking Committee meetings in O eight, O nine,
Speaker 4: And within five minutes leaving the Banking Subcommittee meeting, they're
Speaker 4: all selling their financial stocks.
Speaker 2: Right.
Speaker 1: I've told the story very often, so I'll give the
Speaker 1: short version. I was in DC and Barney Frank, Congressman Frank,
Speaker 1: was giving a speech before me. Congressman Frank was asked
Speaker 1: a question. It was to DC powerbrokers, colms guys, VP, comms,
Speaker 1: spin doctors, PR firm heads, journalists, and someone raised their
Speaker 1: hand and Frank called on them and he said, yeah, Congressman,
Speaker 1: you know there was a discussion this morning about Greek
Speaker 1: bonds and committee. Can you tell us where that went?
Speaker 1: Barney Frank, Well, you know, I can't really disclose that information.
Speaker 1: It's part Fauci, part Barney Frank. I can't really, you know,
Speaker 1: disclose that, but I would say this, if I were
Speaker 1: a rich man, I would be buying Greek bonds because
Speaker 1: as of about a half hour ago, Greece is a
Speaker 1: visually too big to fail. So he says this. I
Speaker 1: get up and I'm my friend Trevor had me there,
Speaker 1: and I get to the microphone. I've got my BlackBerry out.
Speaker 1: I go, I'm so sorry. I know this is very
Speaker 1: very rude. I'm so sorry. I apologize typing away. I'm sorry.
Speaker 1: Just one more minute, okay, all right, I just bought
Speaker 1: Greek bonds. Let's hear it for insider Trading and Congressman
Speaker 1: Barney Frank. Here everybody insider trading and Congressman Frank. And
Speaker 1: the room starts to plot and Barney Frank is in
Speaker 1: the back of the room and he gives me the
Speaker 1: and he gives me the he hated my guts. I
Speaker 1: confronted him another time because he was triple park because
Speaker 1: he's going into a liquor store and he told me
Speaker 1: f off because they said, hey, Congressman, you're blocking the
Speaker 1: little people's getting the work. You're triple parked. So he's
Speaker 1: in the back of the room and the room is
Speaker 1: legitimately applauding, let's hear it for insider trading and Congressman Frank.
Speaker 1: And then they're plotting and somebody goes, idiots, he's making
Speaker 1: fun of us.
Speaker 4: Yeah, well, I was gonna say, if I would have
Speaker 4: got flipped off by Barney Frank, I would have hoped
Speaker 4: somebody would have caught it on film because I'd have
Speaker 4: taken that image and put it on a T shirt
Speaker 4: and warn it with pride. I got flipped off by
Speaker 4: Barney Frank, I would have been I would even proud.
Speaker 3: That's a bad. That's a bad to honor my friend.
Speaker 1: Well, I thank you for that. And my friend Trevor
Speaker 1: wasn't a fan of what I did, but they were
Speaker 1: plotting it.
Speaker 4: So okay, Zach, so let me let me let me
Speaker 4: throw something, all even all throw something. I'll give you
Speaker 4: a real life scenario exactly what I'm talking about.
Speaker 1: Okay, dude, that okay, yet, watch this. I have some
Speaker 1: inside information on bone Frog Coffee. Okay, listen now, listen up.
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Speaker 1: care for the Trump economy. It's going away. So here's
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Speaker 1: Golden Age, and it's limited time, and the time is
Speaker 1: coming to a close. So you and I we could
Speaker 1: corner the market. We could buy a bunch of this
Speaker 1: and resell it at a markup and a profit. We
Speaker 1: could probably sell something back to Tim. So it's Bonefrog
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Speaker 1: In fact, Alex removed that later from the show because
Speaker 1: I wanted Zach and I to have just the inside.
Speaker 3: I'm calling my trader.
Speaker 1: All right, you're on the phone.
Speaker 3: Yeah, Blue Horseshoe loves bone Frog cotton.
Speaker 1: Yeah, is it?
Speaker 4: Blue Horseshoe loves Andy cutt of steel, all right, Endicott
Speaker 4: steel and Cite steel.
Speaker 1: So so take me through what you were gonna say.
Speaker 4: So just to give you an idea of how this
Speaker 4: has looked at. Okay, So one of our traders during
Speaker 4: I think it was, was it twenty I think it
Speaker 4: was during twenty twenty two, when when rates were going
Speaker 4: up and the market was getting cracked, and one of
Speaker 4: our traders came to me and said, hey, my dad's
Speaker 4: account is with us. We want to make some very
Speaker 4: aggressive short vets against this market. And I said, okay,
Speaker 4: we'll put them on the phone. So I talked to
Speaker 4: the dad and I said, look, you you understand what
Speaker 4: the trades you're making. You could lose everything. He goes, Yep, yep,
Speaker 4: we know. And to be fair, my traders very experienced,
Speaker 4: very good trader, you know. So, but they were doing
Speaker 4: some risky stuff.
Speaker 3: Yeah, he had. He's a very good trader, and in
Speaker 3: the space of eight months ran.
Speaker 4: His dad's account from about two hundred and fifty grand
Speaker 4: up to like one point three million. Okay, wow, we
Speaker 4: got investigated for over a year for that, for that
Speaker 4: over and it got flagged because of the gains, right,
Speaker 4: the outsize gains in one account, not in my personal account,
Speaker 4: not in my family's accounts, And it literally was stuff
Speaker 4: that when you looked at the trades themselves, it was
Speaker 4: impossible for us to do anything untoward, Like it was impossible.
Speaker 3: We were trading.
Speaker 4: Volatility on the exchange, so no inside information could be had.
Speaker 4: They I got a year's worth of an investigation just
Speaker 4: on the amount of profit we made in a small account.
Speaker 4: And that's a one point three million dollars account we
Speaker 4: managed between eight nine hundred million. So now am I
Speaker 4: saying they shouldn't have looked at that? Now? I mean,
Speaker 4: when you see a return like that, I mean, but
Speaker 4: what I'm saying is their look looking at that in
Speaker 4: shops that are as relatively as small as ours, And
Speaker 4: we're not small, but you know, we're right around a
Speaker 4: billion in assets, so we're not We're not a big deal.
Speaker 3: By any stretch of the imagination.
Speaker 4: But if that gets that kind of consternation, it kind
Speaker 4: of gives you an idea of how egregious what's happening
Speaker 4: at DC is.
Speaker 1: Oh. I mean, they sit in conferences looking at the
Speaker 1: minute level of detail of these products and these deals
Speaker 1: and how many units are going to ship. They're looking
Speaker 1: at length of contract because if they're approving these things,
Speaker 1: these big international deals, Defense department deals, pharma deals, anything
Speaker 1: that's international trade, they're looking down to unicosts. And I
Speaker 1: got to imagine there's no way Pelosi's looking at that stuff.
Speaker 1: She's getting that information. This looks big. You know, She's
Speaker 1: bringing in people to look at this. She's got her chads,
Speaker 1: she's got her analysts that are looking at this. Oh
Speaker 1: my gosh. Okay. I knew this was outside because I
Speaker 1: remember when I was at Microsoft, I had done some
Speaker 1: consulting for a company and I won't I won't mention them,
Speaker 1: but they had software for making videos easier to see online.
Speaker 1: So it might be something that you can install on
Speaker 1: a website, you know, to make it super easy for
Speaker 1: video to load. And people who know no Microsoft was
Speaker 1: they bought them, and they screwed the company up, but
Speaker 1: they bought them. And I had consulted that company, and
Speaker 1: I got a waiver from Microsoft that I could still
Speaker 1: be on their advisory board. The second it came out
Speaker 1: that they were going to they were going to purchase
Speaker 1: that firm, I got a note from legal. You need
Speaker 1: to sell your shares. Yep, yep. Wait a minute, Wait
Speaker 1: a minute. I don't get to take a ride on. No, No,
Speaker 1: you need to sell now. So I'm not even I'm
Speaker 1: not even all I am is advisory board, which is nothing.
Speaker 3: Yep.
Speaker 1: They have a specific Nope, you have to sell. And
Speaker 1: I lost out on a four or five time value
Speaker 1: lift on the right, and Nancy Pelosi and these and these,
Speaker 1: these these Republicans who do this, they can have that
Speaker 1: minute of detail trade on time magically, and this is
Speaker 1: why they gave themselves a waiver of to insider trading.
Speaker 3: Yep, yep.
Speaker 4: And that's and and you really it's really not the
Speaker 4: other thing is it's really not more complex than that either.
Speaker 4: The bottom line is they play by completely different rules.
Speaker 3: And if you and I did what they did, we'd
Speaker 3: go to jail.
Speaker 4: We we wouldn't just we we wouldn't just we wouldn't
Speaker 4: just get our money taken. We'd forego any profits that
Speaker 4: we made, right, and we go to jail.
Speaker 3: I go to jail. You might get off me because
Speaker 3: you're not a professional.
Speaker 4: But that didn't that didn't save uh you met me,
Speaker 4: save Martha Stewart. Yeah, well no, no, yeah, screw yeah,
Speaker 4: never mind.
Speaker 3: Yeah, you'd be done. Yeah, you'd yeah, you'd be done.
Speaker 1: I'd be Frog march Man. They roll heavy in my house.
Speaker 4: Yes, So it's yeah, it's just it's just corruption, plain
Speaker 4: and simple and there.
Speaker 3: Yeah, it's it's disgusting, all right.
Speaker 1: So we're gonna get into something here in a bit
Speaker 1: about a coin, a meme coin, so it's crypto. And
Speaker 1: this person introduced this mean coin, even told people to
Speaker 1: not buy it, and people bought it, and we need
Speaker 1: to talk about this. But before we get to this
Speaker 1: is complex and it has to do with the Democrats
Speaker 1: want the FED to be absorbed by the Treasury, and
Speaker 1: I want you to weigh in on this in just
Speaker 1: a second here, Zach and Zach and I are going
Speaker 1: to be down in Portavarto, Mexico in early June, and
Speaker 1: I'm going to be coming back from a trip to
Speaker 1: Mississippi by the way, because I'm gonna be out there
Speaker 1: and I'm gonna come down and we're gonna hang out
Speaker 1: down there. Zach and his wife are getting treatment at
Speaker 1: Renew Renew Dot Healthcare. I am this time. I'm gonna
Speaker 1: hang out in the hyperback therapy room. I'm gonna take
Speaker 1: some of the shipments. I'm not gonna get semsols. I
Speaker 1: don't have any need for them right now. But you
Speaker 1: and are going to be hanging out down there. If
Speaker 1: you happen to be going down to Renew, go down now,
Speaker 1: you know, but that means get your m right to
Speaker 1: those guys getting reviewed and Zach and I would love
Speaker 1: it if when we got down there, there were a
Speaker 1: bunch of people who are in the pipeline now and
Speaker 1: we can go out and have dinner and I'll buy
Speaker 1: the first dinner, and then when the four hundred people
Speaker 1: show up, Zach will buy the second time. So I'll
Speaker 1: take care of the first one. With a couple of folks.
Speaker 3: There you go.
Speaker 1: We're gonna be down there together Renew and I've been
Speaker 1: taking inventory. We're putting together a list of conditions we've helped. Okay,
Speaker 1: so hemispherical paralyzation person was told you're going to spend
Speaker 1: your life in a wheelchair. That turned out not to
Speaker 1: be true. The arthritis you have in your hands is
Speaker 1: an incurable type. It's just going to get worse, so
Speaker 1: we can mitigate the pain, but not the function. Not true.
Speaker 1: That shoulder is going to have to have surgery. You'll
Speaker 1: never get mobility back without surgery. Not true. We had
Speaker 1: the you cannot slow down this muscle wasting disease. Not true.
Speaker 1: So why isn't this allowed up here?
Speaker 3: Well?
Speaker 1: Corruption, there's a medical system that doesn't want this. There's
Speaker 1: really legitimately good doctors who do not understand when they
Speaker 1: give you your own stem cells that that doesn't really
Speaker 1: do much for you. They'd't understand that the process of
Speaker 1: rejecting eighty percent of the umbilical cords, they get eighty
Speaker 1: percent of them means they ogly work with the most quality.
Speaker 1: Then they multiply them, they culture them so they get
Speaker 1: more quality cells in your body immediately. The combination of
Speaker 1: that and the h BOT therapies, the NAD therapies, the
Speaker 1: Meyers drip that their next door to or world class hospital.
Speaker 1: Oh and not to mention, they've saved three people's lives
Speaker 1: who went there for stem cells and ended up getting
Speaker 1: heart surgery that next day because they were going to die.
Speaker 1: So it's renewed dot healthcare. E you e dot healthcare
Speaker 1: if you can get down there in early June again,
Speaker 1: and I mean it, I'll buy the first dinner. And
Speaker 1: I'm sure you know. I don't mean to speak for you,
Speaker 1: but I know you to be a good and generous man.
Speaker 1: I'm sure you would buy the second dinner, and I
Speaker 1: would love to. I'm sure that you would thank you
Speaker 1: for that. It's renewed or and you e dot Healthcare.
Speaker 1: Here's something that apparently the FED wants to do. They
Speaker 1: the Democrats actually want the Fed to be absorbed by
Speaker 1: the treasury.
Speaker 6: The progressive you know, want to absorb the fat into
Speaker 6: the treasury.
Speaker 1: Right it again? You think the truth? Yeah, because they
Speaker 1: want to they.
Speaker 6: Want a central bank digital currency soak everything up from
Speaker 6: the banks, which they don't like. Then the central bank
Speaker 6: will have all the money and they'll, you know.
Speaker 3: Find who to lend it to.
Speaker 6: And there there are various levels of these plans, but
Speaker 6: that's an idea of been floating out there for a
Speaker 6: long time, and central bank digital currencies in some form
Speaker 6: maybe stable coins, are coming. If we had stable coins
Speaker 6: that are treasury back, it does the same things.
Speaker 1: Ken Rogoff, who is an economist, he was on CNBC.
Speaker 1: So the FED, which is not a government agency, it's
Speaker 1: an independent agency. It's a country unto itself that conjures
Speaker 1: debt and then calls it money and then gives it
Speaker 1: to the Treasury, would be absorbed by an actual government body,
Speaker 1: which is the Treasury, and we would then have a
Speaker 1: central bank digital currency, which we already do. You wire
Speaker 1: money that's digital currency, is not a central bank digital currency.
Speaker 1: You wire money, ach transfer that's digital, venmo that's digital.
Speaker 1: So how on earth can a government agency absorb a
Speaker 1: non government agency and then still pretend the FED is independent?
Speaker 3: Oh they can't.
Speaker 4: I mean, in the minute that happens, any illusion of
Speaker 4: or I shouldn't say illusion, but any thoughts surrounding FED
Speaker 4: independence are immediately vaporized.
Speaker 3: I mean, that's yeah.
Speaker 4: And the other thing too, is that there's really no
Speaker 4: need to do that. I think it is a horrific
Speaker 4: idea on so many different levels.
Speaker 3: But the only.
Speaker 4: Reason and I haven't looked into that. That's the first
Speaker 4: time I've heard that quote.
Speaker 3: I haven't.
Speaker 4: I haven't looked into this, but the only reason I
Speaker 4: can come up with why progressives would support that is
Speaker 4: purely for the ability to have more control.
Speaker 3: There's no other reason.
Speaker 4: And the just like I said with Trump, where I
Speaker 4: was like, look, Powell may may or may not be
Speaker 4: a good actor, whatever the case may be. But having
Speaker 4: the president, having the president having the ability to conduct
Speaker 4: monetary policy is a horrible idea, regardless of what president is.
Speaker 4: For instance, when when a president is up for reelection,
Speaker 4: what do you think the likelihood that he'd cut interest rates.
Speaker 3: Six months before.
Speaker 1: It approaches.
Speaker 4: Yeah, yeah, so uh, you would just completely politicize it.
Speaker 4: And more importantly, I think it's just a it's just
Speaker 4: another step to, you know, just building up this Potempkin
Speaker 4: village even larger.
Speaker 3: And it's a horrible idea. It shocked.
Speaker 4: It doesn't shock me to hear a guy like rogue
Speaker 4: Off pitching that. But no, I think it's a horrific idea.
Speaker 4: I think that if you did that, the dollar probably
Speaker 4: get instantly hit for I would think ten to fifteen percent.
Speaker 4: I think our treasuries would sell off. I don't think
Speaker 4: it'd be a good thing at all. I think it's
Speaker 4: a horrible idea.
Speaker 1: Yeah, and anytime you're further centralizing government and taking a
Speaker 1: scam institution, sorry, the FED, I just it drives me crazy,
Speaker 1: and then rolling it into another scam institution that has
Speaker 1: never answered for illegally buying corporate bonds at seventy seven
Speaker 1: point two billion dollars seven and twenty billion dollars like that.
Speaker 3: Yeah, you know me, I am no fan of the FED.
Speaker 1: Yeh.
Speaker 4: At the same time, you do need a central bank.
Speaker 4: You need a central bank, you need a lender of
Speaker 4: last resort, and you need that. You need that lender
Speaker 4: of last resort to be politically insulated.
Speaker 3: They need to be outside the political system. And I
Speaker 3: am not I'm not saying there.
Speaker 4: Aren't serious changes that I would want to make it
Speaker 4: the FED right like that, I think there's but anybody
Speaker 4: arguing whether they want to give the president the right
Speaker 4: to conduct monetary policy, whether they want the Treasury to
Speaker 4: soak up the FED, all of it is effectively the
Speaker 4: same thing. It doesn't really matter, right if the Treasury
Speaker 4: soaks up the FED, the president now has monetary policy power, period,
Speaker 4: And all.
Speaker 1: About the FED is it would be really nice if
Speaker 1: the lender of last resort was the lender of last
Speaker 1: resorts because not right first and pretty first, right, well,
Speaker 1: we know what the Fed's going to do something, all right,
Speaker 1: This is a bizarre story, and it is about a
Speaker 1: well known Twitter accounts. I remember when this account started.
Speaker 1: They're so good at this. They've grown so well. They
Speaker 1: understand the algo and they do the things to grow
Speaker 1: on social media. And maybe I'm not shadow and maybe
Speaker 1: I just suck at social media, although I know I'm
Speaker 1: shadow of and I just I know that because I
Speaker 1: watched them do it and decrease my likes and retweets
Speaker 1: and all that. So I'll tell you about this in
Speaker 1: a second, just after I remind you that tonight, when
Speaker 1: you shower, you're probably a life hating communist. Sorry, I mean,
Speaker 1: if you're using non Allen soap. I mean, I still
Speaker 1: love you, but you are a life hating communist because
Speaker 1: when you're washing your body with that soap, you're not
Speaker 1: washing it with Alan's. And look, I tell Alan, I mean,
Speaker 1: he's nonverbal, he's fourteen, he's been through these eighteen operations,
Speaker 1: so he can't say what he feels about you. But
Speaker 1: he's super sick. Because I got your names. It's in
Speaker 1: the database. So like I told him tonight, Hey, you
Speaker 1: know what, Betty Thomas from Idaho Falls, Idaho. She's been
Speaker 1: big fan of the show for a long time, but
Speaker 1: she's never purchased your soap. And Alan put his head
Speaker 1: down and cried a little bit. So I mean, make
Speaker 1: your choice. It's made with all natural materials, absolutely no
Speaker 1: chemicals made by I have three generations to soapbaging expertise
Speaker 1: and truly without without joking. Alan is nonverbal through autism.
Speaker 1: He has been three eighteen operations. No, he is not
Speaker 1: going to be anger if you don't buy a soap.
Speaker 1: But our mission is to employ Allan and we do.
Speaker 1: And Ian also affected by autism, and we do, and
Speaker 1: Amy and we do. And that's the mission. It's Alan
Speaker 1: Soaps dot Com slash Todd. He's probably tid to get
Speaker 1: tempera sent off all their products. It's not just soap,
Speaker 1: by the way, there are some of the most soft
Speaker 1: the softest wash costs I've ever had there, and soap
Speaker 1: racks as well. It's Alan Soaps dot Com slash Todd
Speaker 1: and get Temper sent off everything there. This is a
Speaker 1: bizarre story and it's good that we have Zach Abraham,
Speaker 1: Chief and vestment officer Bulwart Capital Management with us to
Speaker 1: help us figure this out. I'll read through this real quick, Zach,
Speaker 1: and then I want to get your input on this.
Speaker 1: This comes from a Muse. It's a great account on Twitter,
Speaker 1: and amuse rites this and I'm saying amuse because they
Speaker 1: don't know if it's a man or woman. On May three,
Speaker 1: at approximate eight thirty am, I launched a coin, not
Speaker 1: a metaphorical coin, not a metaphor about value or tru
Speaker 1: uster social capital, a literal mean coin called a muse
Speaker 1: on x based on my ex formerly Twitter handle. I
Speaker 1: did not encourage anyone to buy it. In fact, I
Speaker 1: told them explicitly not to. Less than two hours later,
Speaker 1: it was worth three point five million dollars. This was
Speaker 1: not the result of cunning design or market manipulation. I
Speaker 1: never bought or sold a mean coin before. I was
Speaker 1: not trying to ride a wave, launch a brand, or
Speaker 1: seated cult. I was researching for a book about the
Speaker 1: people behind the mean coin phenomena, a book that began
Speaker 1: appropriately enough in another strange room on February fourteenth, twenty
Speaker 1: twenty five. That day was invited to deserve the launch
Speaker 1: of a coin tied to Argentine President Javier Malay, a
Speaker 1: monetary radical term mean coin messiah, whose likeness has become
Speaker 1: shorthand for rebellion and decentralization and digital markets. Pump fund
Speaker 1: the platform I use as a disciptively simple name. It
Speaker 1: sounds like a toy, a game, a dare. In reality,
Speaker 1: it's become a favorite launch pad for mean coins, especially
Speaker 1: those tethered to personalities, pop culture and political figures. What
Speaker 1: distinguishes pump fun is its structure. Every token has a
Speaker 1: fixed apply to one billion, immutable and automatic. When a
Speaker 1: creditor launches a token, eight hundred million coins are allocated
Speaker 1: to a bonding curve. Mathematical pricing FORMUA then increases the
Speaker 1: cost of each coin is more purchased. As a coin
Speaker 1: hits sixty nine thousand dollars market cap, pump fund mints
Speaker 1: the remaining two hundred million impairs them with roughly twelve
Speaker 1: thousand of sol Solona's native token to establish a liquidity
Speaker 1: pool on the decentralized exchange Radium. Since February, I've interviewed
Speaker 1: dozens of people behind the biggest coin launches, from entertainers
Speaker 1: to synonymous whales to marketing teams running Meme labs twenty
Speaker 1: four to seven. The money is staggering. Mean coins generated
Speaker 1: over one hundred billion in volume last year. A loan
Speaker 1: on solon or trading fees from mean coins exceed three billion,
Speaker 1: with one single trader spending one hundred and thirty million
Speaker 1: on fees. That's just one chain. The market is dominated
Speaker 1: by whales and bots. Roughly ten percent of participants extract
Speaker 1: ninety percent of the profits. The remaining ninety percent chase
Speaker 1: ephemeral highs, often exiting with losses. Many use complex tools
Speaker 1: to identify trending launches, enter early and exit minutes later.
Speaker 1: My telegram inbox was filled with offers from services promising
Speaker 1: to amplify my coins visibility using these mechanisms. I decline
Speaker 1: them all. As you're listening to that and aware of this,
Speaker 1: I hear to me our fiat currency, which no one
Speaker 1: in crypto likes, amplified by ten billion to the ten
Speaker 1: billionth power, and somehow they like this, this is value,
Speaker 1: But our fiat currency is not. Am I under or
Speaker 1: overstating that at all?
Speaker 3: No, you're not overstating it at all.
Speaker 4: And it really is a fascinating time in human history
Speaker 4: and financial history, because we've had bubbles before. We've had
Speaker 4: plenty of them, right, And you can go back as
Speaker 4: far as what is it was it the was it
Speaker 4: the south Sea Cut Corporation or whatever that Newton famously
Speaker 4: lost a bunch of money on. Yeah, Sir Isaac Newton, Yeah,
Speaker 4: you've had pump and dumb scheme, You've had all this.
Speaker 4: Never before in humanity history, though, have you seen as
Speaker 4: much engagement and an involvement and excited excitement regarding something
Speaker 4: that the vast majority of those players know are complete
Speaker 4: is complete nonsense, right, Like, so most of the people operating,
Speaker 4: like they said the whales, the whales know that these
Speaker 4: are completely useless, that they're completely nonsensical. This is a
Speaker 4: pump and dump massive value any of these coins.
Speaker 1: Yeah, so let me ask you. I saw groc learning
Speaker 1: ads on Twitter about the grock coin. So this is
Speaker 1: the first time I've ever felt tempted to buy coin
Speaker 1: because you know, it reminded me of when I saw bitcoin.
Speaker 1: And I've told this story. When I learned about bitcoin,
Speaker 1: I went to my wife and said, I want to
Speaker 1: put thirty forty thousand dollars into this bitcoin. She's like,
Speaker 1: you're insane and I should have pushed back and said probably,
Speaker 1: but I'm still doing it and thirty forty, you know,
Speaker 1: fifty maybe At that point, I was printing money out
Speaker 1: of my buzzpo website before Amazon destroyed it with their
Speaker 1: their ads that attack on our ads, et cetera. So
Speaker 1: I could have afforded, frankly, to put twenty five thirty
Speaker 1: forty fifty thousand dollars a month into that for a
Speaker 1: little while, and I'd be a billionaire if I'd done that.
Speaker 1: So I'm not saying that I think their grock coin
Speaker 1: has any value. I know that he's mobbed up. I
Speaker 1: know that he knows President Trump really well. I know
Speaker 1: Trump wants to be a crypto king. I know how
Speaker 1: DC works. I get a sense that his coin might
Speaker 1: be one of those coins. It ends up being a
Speaker 1: quote stable coin, so I went in to go try
Speaker 1: to buy it, and I had to buy a coin
Speaker 1: to get his coin, so I had to I couldn't
Speaker 1: buy it with US dollars.
Speaker 3: Oh yeah, yeah, yeah, he had to convert to a
Speaker 3: stable coin.
Speaker 1: So I had to go to a coin to buy
Speaker 1: his coin. Right, Okay, I read that a couple different ways.
Speaker 1: If I didn't do it, because I don't know enough
Speaker 1: about those coins to do it. I was making a bet,
Speaker 1: pure and simple, plain and simple, making a bet that
Speaker 1: this is going to be a big coin. But Elon,
Speaker 1: it seems so smart that you have to buy a
Speaker 1: coin and then sell it and then if all these
Speaker 1: are the coin's going into the grock coin, it seems
Speaker 1: to me he's driving up the value of grock coin
Speaker 1: and driving down the value of other coins. Am I wrong?
Speaker 4: What platform were you on when you were doing that?
Speaker 4: Because you had to go on a trading.
Speaker 1: Platform, So I never got to the trade. I got
Speaker 1: to the grock coin website and then it was telling
Speaker 1: me you need to go select a coin to do this,
Speaker 1: and that's where I stopped because I'm like, wait, I'm
Speaker 1: not sophisticated enough to know which coin to select. But
Speaker 1: it seemed like a smart move.
Speaker 4: So so here here's the way generally speaking, that works.
Speaker 3: Okay, okay, So think of a platform.
Speaker 4: You know people like everybody goes Schwab, Right, Schwab is
Speaker 4: a trading platform for investments.
Speaker 3: Okay, Take a company like coinbase.
Speaker 4: Coinbase is effectively a Schwab for cryptocurrency. Okay, Now this
Speaker 4: work gets a little bit different. The easiest way to
Speaker 4: understand what they're doing there is they're saying, okay, come
Speaker 4: here and make an account, and then we're going to
Speaker 4: convert your dollars into what we call our native coin, right,
Speaker 4: and what the native coin is effectively are poker.
Speaker 3: Chips in the casino.
Speaker 1: That's hot side.
Speaker 3: Yes.
Speaker 4: So so it's like everybody converts to their stable coin
Speaker 4: or their native coin of choice, whatever platform you're on
Speaker 4: is going to have a different native coin, and you
Speaker 4: convert to the native coins, and then the native coins
Speaker 4: are what you use. And the native coins are supposed
Speaker 4: to maintain a level value, right They're supposed to. Yeah,
Speaker 4: they're supposed to.
Speaker 3: So that it.
Speaker 4: And this is one of the issues with the like
Speaker 4: why can't you just get on that platform and exchange
Speaker 4: in dollars.
Speaker 3: This is one of the problems with that industry is.
Speaker 4: That then effectively, and not every not every exchange does this,
Speaker 4: but but we've seen this involved in some of these frauds,
Speaker 4: which is those quote unquote native coins they have a
Speaker 4: value on that platform, right, yes, well they can also
Speaker 4: they can also you know, mess with or or you know,
Speaker 4: manipulate the creation of those native coins. So I'm not
Speaker 4: saying they all do this, they don't all do this,
Speaker 4: but well, look, when I look at the whole cryptocurrency deal,
Speaker 4: the best analogy I can give, and a lot of
Speaker 4: people won't know this reference, but it just it reminds
Speaker 4: me so much of the junior mining industry in the
Speaker 4: early eighties in Canada, meaning the pump and dumps everywhere.
Speaker 4: There's so many similarities between that and the whole meme
Speaker 4: coin phenomenon going on right now, and it's just rife
Speaker 4: with fraud. And that's why I just tell people like, oh, look,
Speaker 4: if you want to play in that, if you want
Speaker 4: to play in that arena, and we're not doing it
Speaker 4: for you, but if you want to play in that arena. Now,
Speaker 4: we've we've had incredible success trading bitcoin, and we don't
Speaker 4: always own it, but our clients have owned as much,
Speaker 4: as you know, one and a half to two percent
Speaker 4: of their portfolio at the most in bitcoin at times,
Speaker 4: and we'll play with it, but we're always going to
Speaker 4: keep those things very small because at the end of
Speaker 4: the day, you may think bitcoin's going to a million,
Speaker 4: there's a lot of people saying that what is the underlying.
Speaker 3: Value of it?
Speaker 1: Nothing zero.
Speaker 4: It's yeah, there is no intrinsic value. It has no
Speaker 4: cash flows, it has no assets, it has nothing. It
Speaker 4: truly is a reflection of what the it's It is
Speaker 4: an experiment of the greater fool. And I'm not saying
Speaker 4: that you're a fool if you own bitcoin. But the
Speaker 4: greater fool theory is stocks go up in price because people,
Speaker 4: not because earnings drive them higher. They typically correlate, but
Speaker 4: stocks go up in price because people are willing to
Speaker 4: pay a higher price for the stock period, end of story, right.
Speaker 3: And so.
Speaker 4: That that's the dynamic you've got going on in crypto.
Speaker 4: That it's that greater fool theory, meaning what you're relying
Speaker 4: on is somebody to come along that is willing to
Speaker 4: pay a higher price than you. But it's completely subjective.
Speaker 1: And I'm looking at the thing with grock Coin saying
Speaker 1: I'll bet on that casino. Yeah, sure, of course this
Speaker 1: is going to get big. It's Elon Musk. Of course,
Speaker 1: there are people going to rush into it. They're going
Speaker 1: to rush into it for ideological reasons. The left is
Speaker 1: going to attack it for ideological reasons. President Trump would
Speaker 1: probably be likely to put, as I said, the grock
Speaker 1: coin into some you know, government mix because Trump wanted
Speaker 1: to go buy a bunch of coins. Now, is that corrupt? Yeah,
Speaker 1: it's corrupt. So but I'm mininged to bet on that.
Speaker 1: But I'm not willing to go bet on a coin.
Speaker 1: Now I have to go research stable coins. But none
Speaker 1: of them are stable because none of them have any
Speaker 1: intrinsic value. There's no armies, there's no you know, in
Speaker 1: the United States, what do we have. We have our
Speaker 1: land mass, we have our armies, we have our weapons,
Speaker 1: we have the natural resources in our soil. We've got
Speaker 1: the labor of the people. I mean, there's a lot
Speaker 1: here that backs our dollar, which came off the gold standard,
Speaker 1: which I rate as a mistake. But there is intrinsic
Speaker 1: value in the United States. This is very much like this.
Speaker 1: This is very much like this. I'm picturing a fifty
Speaker 1: year old dude and he gets his way into let's
Speaker 1: say he wants to work in Goldman Sacks, and he
Speaker 1: gets into Goldman Sacks and he's in an interview and
Speaker 1: the hiring mantresses, So why do you think of goldmun
Speaker 1: sacks material? Ah, And I was the most popular kid
Speaker 1: in high school, and I was jacked. I can show
Speaker 1: you pictures I had abs and you know my body counts.
Speaker 1: I'll say something. I hit that high school thing so hard.
Speaker 1: So what is the worth of your popularity now? No,
Speaker 1: but you don't get it. I mean it's like if
Speaker 1: if you held a party and I wasn't invited, people
Speaker 1: didn't come right. So behind you is the door and
Speaker 1: don't let it hit you in the way out. That's
Speaker 1: what I'm looking at with these stable coins. They're not
Speaker 1: stable and Elon Muskus he wants me to purchase those
Speaker 1: coins for to get a chance at his coin.
Speaker 4: Well, and that so if you want, if you were
Speaker 4: going to do that, you can do like you can
Speaker 4: do it. But what I would tell people is just
Speaker 4: don't hold that native coin or that stable coin for
Speaker 4: any period of time. Convert and purchase the coin you
Speaker 4: want immediately, Okay.
Speaker 1: And that seems like a little work forgive me for what?
Speaker 3: Yeah? Well yeah, and and and the work for what?
Speaker 2: Right?
Speaker 3: What is the value of what it is that you bought.
Speaker 1: I just want to bet on Elon Musk Yeah, well
Speaker 1: I just want to drop I just want to drop
Speaker 1: a couple hundred bucks into the slot machine labeled Grock coin.
Speaker 4: Well, yeah, then you got to flip into the native coin,
Speaker 4: so you got and then you just convert instantly into
Speaker 4: the into the other one.
Speaker 3: But which you can do. People do that all the time.
Speaker 4: But my advice would be, if you're going to do that,
Speaker 4: do it immediately.
Speaker 3: Do not sit in that native coin.
Speaker 4: Because like you said, right, is there some value we'd
Speaker 4: assigned to the grock coin. Well, well, again, it effectively worthless,
Speaker 4: but it's less worthless than the native coin because it's
Speaker 4: tied to musk, right, so there is something there. But yeah,
Speaker 4: if you're going to do the and quite honestly, Todd,
Speaker 4: when I look around at the world today, it's one
Speaker 4: of the reasons that we're invested the way we are.
Speaker 4: I think all of this nonsense and all of this
Speaker 4: craziness and greed that's driving all this, I think the
Speaker 4: real investment opportunity is the other opportunities that's created, right,
Speaker 4: Meaning when people are pumping all this money into this
Speaker 4: thing over here, it's not going into this thing over here. Yeah, right,
Speaker 4: And I think I in my opinion, I think everybody
Speaker 4: chasing the coins is literally going in the wrong direction.
Speaker 4: I think the investment opportunity are all the real assets that,
Speaker 4: in my opinion, are artificially cheap due to all the
Speaker 4: kids chasing the nonsense.
Speaker 3: And so I look at it. When I can buy.
Speaker 4: Companies that are growing at fifteen or twenty percent a
Speaker 4: year and are paying me at twelve and a half
Speaker 4: to thirteen percent dividend with a clean balance sheet, I
Speaker 4: like that a lot more than buying some dude's coin,
Speaker 4: you know what I mean? Right, So, and that's and
Speaker 4: that to me, when you get into these environments of
Speaker 4: euphoric nonsense, where are looking around going what's going on?
Speaker 3: The one trigger that.
Speaker 4: Is I've learned to have go off in my mind
Speaker 4: is when you see a bunch of people doing a
Speaker 4: lot of irrational nonsense, there has to be and it's
Speaker 4: usually high quality, right, like uh you know, uh, you know,
Speaker 4: foundational type stuff that simultaneously is going to be way
Speaker 4: too cheap, right, because what do people throw out? Like
Speaker 4: if you're going to sell stocks out of your portfolio
Speaker 4: to buy a mean coin, You're probably not going to
Speaker 4: sell your Tesla.
Speaker 3: You're probably going to sell your General Mills.
Speaker 4: Right, You're probably gonna sell your Stalwart, your Coca Cola,
Speaker 4: your McDonald something like that, Right, and so what happens
Speaker 4: and you can see that today.
Speaker 3: I don't think those stocks that I just mentioned are cheap.
Speaker 4: But when you go look at these some of these
Speaker 4: boring companies, you know, we just like I think, I
Speaker 4: told you we bought an airline, an international airline that
Speaker 4: is doing phenomenally that the future looks incredibly bright for
Speaker 4: and there trade. We bought them at a at a
Speaker 4: twenty percent discount to their net asset value, paying a
Speaker 4: six and a half percent dividends per year, and the
Speaker 4: things trading at six times earnings, where it's counterpart in
Speaker 4: the US is trading at twenty four. And so you're like, I,
Speaker 4: So I'm seeing all these opportunities, and I'm getting sitting
Speaker 4: there going, yeah, you know, this whole mean coin thing
Speaker 4: that it is unveiled a lot of opportunities.
Speaker 3: I just don't think it's in mean coins.
Speaker 1: Oh you know, it's so funny you mentioned airlines because
Speaker 1: I was just mentioning. I was just remembering on one
Speaker 1: of the greatest three actor scenes in the history of movies,
Speaker 1: Michael Douglas and Charlie Sheen and Martin Sheen in Wall
Speaker 1: Street and Gordon Geckoin the Kirk douglas character, Kirk Douglas
Speaker 1: is that who is Mike Michael Michael Douglas. Michael Douglas
Speaker 1: does this incredible pitch and Bud Fox Charlie Sheen is
Speaker 1: involved in the pitch about how they're going to take
Speaker 1: this little regional airline and make it huge. And the
Speaker 1: pitch is over, and there's Martin Sheen, the guy who
Speaker 1: represents the union workers, and he laughs, he laughs his
Speaker 1: head off. You don't care about my men or my airline.
Speaker 1: You want to piece us apart and sell us for parts.
Speaker 1: You don't care about the airline business. And then he's
Speaker 1: saying to his kid in the elevator, son, Son, there's
Speaker 1: real value. We move people. My men work on airplanes.
Speaker 1: We get families to graduations and funerals. There's real value here.
Speaker 1: This guy's not selling value, son, right, this guy's selling
Speaker 1: smoking mirrors. And it turns out, of course, you know,
Speaker 1: Charlie Sheen's character is furious his father's father just doesn't
Speaker 1: get it, and sadly turns out his father's right. And
Speaker 1: Bud Fox has a lot of time to think about
Speaker 1: that he was in prison and wearing wires and going
Speaker 1: after people like Gordon get go, man Zach. What a
Speaker 1: conversation today, I am. I It's hard for me to
Speaker 1: say this, but I was legitimately a bunny when it
Speaker 1: came to thinking of insider trading laws. I legitimately thought
Speaker 1: you could get more trouble than me or anyone in
Speaker 1: the podcast family on the radio show Families, We anyone
Speaker 1: listening to this. You can get in more trouble overhearing
Speaker 1: a conversation on a subway train and making a trade
Speaker 1: based upon that. If someone ever found that out, you
Speaker 1: could get in more trouble than congressmen and senators who
Speaker 1: have the detailed they have the the literal deal points,
Speaker 1: term sheets, and contracts in front.
Speaker 3: Of them, and they regulate those industries.
Speaker 4: Yeah, right, and they regulate those industry so they have
Speaker 4: incredible inside knowledge, they have incredible inside access.
Speaker 3: Right, If any.
Speaker 4: CEO of Nancy Pelosi calls any CEO in the country,
Speaker 4: they're picking up the phone or they're calling her back. Right,
Speaker 4: I don't get that same kind of treatment. So you
Speaker 4: naturally you should be held to a higher standard because
Speaker 4: of the access you have information. And it's the exact opposite,
Speaker 4: it's the exact opposite. Would I get tagged before you. Yeah,
Speaker 4: I'm more visible. I manage other people's money. But bottom
Speaker 4: line is, if you and I both make those those trades,
Speaker 4: we're both looking at the same we're both looking at
Speaker 4: the same problems.
Speaker 1: Well, maybe you and I can have the same jail soon.
Speaker 3: Yeah, well we'll work out a lot.
Speaker 1: Yeah, I know, I call top bump.
Speaker 3: Yeah that's fine. I'm not gonna fight you.
Speaker 1: Sounds good, all right, Thank you, Zach Wise counsel Day
Speaker 1: Todd Herman Shaw appreciate you very much. And remember, Zach
Speaker 1: and I will be in portavart To Mexico early June,
Speaker 1: hanging out, going to dinner and love you to get
Speaker 1: down there. But that means you should get with renewed
Speaker 1: dot Healthcare as soon as possible. This is a Todd
Speaker 1: Herbert show. Please go, be well, be strong, be kind,
Speaker 1: and please make every effort to walk in the light
Speaker 1: of Christ.