1 00:00:00,480 --> 00:00:03,399 Speaker 1: Cultural and financial change all wrapped up together has come 2 00:00:03,439 --> 00:00:06,120 to Washington, d C. And the people there don't like 3 00:00:06,200 --> 00:00:08,320 it that much. We'll talk with my friend and brother, 4 00:00:08,439 --> 00:00:11,519 Zach Abraham, chief investment officer Bulwarck Capital Management, will do 5 00:00:11,560 --> 00:00:13,000 this with the help of God Almighty. 6 00:00:15,080 --> 00:00:19,359 Speaker 2: But Todd Herman show is one disapproved by big pharma 7 00:00:19,600 --> 00:00:27,920 technocrats and tyrants everywhere from the high mountains of Free American. 8 00:00:29,079 --> 00:00:31,320 Here's the Emerald City exime. 9 00:00:31,719 --> 00:00:34,359 Speaker 3: How many else did you drink the Todd. 10 00:00:34,240 --> 00:00:38,920 Speaker 1: Herman Today is a day the Lord has made, and 11 00:00:38,960 --> 00:00:41,280 these are the times, so wish God is the saturitude 12 00:00:41,320 --> 00:00:44,119 we shall live. That was a hot mic moment. It 13 00:00:44,200 --> 00:00:46,200 was just Zach asking me how much water I drink 14 00:00:46,200 --> 00:00:49,640 per day. I drink for about four hundred and twenty ounces. 15 00:00:49,359 --> 00:00:57,600 Speaker 3: Of water a day, sweet mouses. Seriously, Yes, good golly. 16 00:00:57,679 --> 00:01:01,439 I thought I was getting crazy at like one thirty one. No. 17 00:01:01,600 --> 00:01:03,359 Speaker 1: And I'll tell you why I do that is because 18 00:01:03,920 --> 00:01:06,680 when I tried to put on muscle as an old man, 19 00:01:07,280 --> 00:01:09,439 and I worked with this guy I'd been a Seahawks' 20 00:01:09,920 --> 00:01:12,840 strength and fitness coach and nutrition coach. He said, in 21 00:01:12,920 --> 00:01:14,400 order for you to have any shot at doing this, 22 00:01:14,840 --> 00:01:16,439 You're gonna have to eat about three hundred and sixty 23 00:01:16,439 --> 00:01:18,879 grams of protein every day, which means you have to 24 00:01:18,959 --> 00:01:22,159 drink forward and sixty ounces of water. And I said, 25 00:01:22,239 --> 00:01:24,319 what if I don't, he goes, you will get kidney stones. 26 00:01:24,680 --> 00:01:26,359 I said, I'm not saying he said, I'm not saying 27 00:01:26,359 --> 00:01:29,000 you might. I'm saying if you do not have at 28 00:01:29,079 --> 00:01:30,959 least forwarded and sixty ounces of water every day, you're 29 00:01:31,000 --> 00:01:32,799 going to get kidney stones. It's not a it's a 30 00:01:32,840 --> 00:01:35,599 question of how many you get because. 31 00:01:35,239 --> 00:01:36,599 Speaker 3: Of the amount of protein. 32 00:01:36,319 --> 00:01:38,000 Speaker 1: That you got to eat, right, and that your kidneys 33 00:01:38,000 --> 00:01:39,840 are going to have trouble metabolizing. If you see me 34 00:01:39,840 --> 00:01:42,719 handing something off that's offset going to, Alex is going 35 00:01:42,760 --> 00:01:44,280 to actually be kind of to give me some of 36 00:01:44,319 --> 00:01:47,120 his water since I don't have any. Did you watch 37 00:01:47,200 --> 00:01:51,239 the President's by the way, It was performative, but think 38 00:01:51,359 --> 00:01:56,200 for a good reason. He is battling a counter cultural revolution. 39 00:01:56,280 --> 00:01:58,319 He's leading that, so I think we had to have 40 00:01:58,319 --> 00:02:00,920 these performative moments like name in this park after this 41 00:02:01,000 --> 00:02:03,519 young girl was killed by the illegal immigrants. Did you 42 00:02:03,519 --> 00:02:04,719 watch that? Watch clips of it. 43 00:02:06,280 --> 00:02:09,240 Speaker 3: I'm gonna be completely honest with you, Yeah, so what 44 00:02:09,439 --> 00:02:12,240 my my other portfolio manager that lives in London was 45 00:02:12,280 --> 00:02:14,400 in town. Okay, so we were out of the dinner 46 00:02:14,479 --> 00:02:17,120 last night. I have read some summations, seen a couple 47 00:02:17,159 --> 00:02:18,520 of the clips here and there, but I didn't get 48 00:02:18,520 --> 00:02:19,439 a chance to watch it all. 49 00:02:19,639 --> 00:02:21,840 Speaker 1: Did you see the gorgeous moment though online of the 50 00:02:21,879 --> 00:02:23,800 Democrats who decided to meme themselves. 51 00:02:24,319 --> 00:02:29,919 Speaker 3: Yes, I read it. I read about it. Well, will 52 00:02:29,960 --> 00:02:32,560 you walked me through what you was? Like? I want 53 00:02:32,560 --> 00:02:34,159 to hear your version because I just saw a quick 54 00:02:34,159 --> 00:02:35,520 and dirty breakdown of it on Twitter. 55 00:02:35,599 --> 00:02:37,840 Speaker 1: Well, I'll tell you this. I think President Trump is 56 00:02:37,879 --> 00:02:40,960 the first president's, first Republican president to engage in the 57 00:02:41,319 --> 00:02:45,240 in in countering the culture, the cultural revolution. Our country 58 00:02:45,240 --> 00:02:47,199 has been pushed their cultural revolution. So he does these 59 00:02:47,240 --> 00:02:51,599 performative moments, like prior to this speech, they brought a 60 00:02:51,639 --> 00:02:54,439 young woman who had been given a traumatic brain injury 61 00:02:54,479 --> 00:02:58,199 when a man playing against her in volleyball, you know, 62 00:02:58,360 --> 00:03:02,879 basically assaulted her. That's performative. Okay, that's not policy. Trump 63 00:03:02,879 --> 00:03:05,360 has already created an executive order to you know, ban 64 00:03:05,520 --> 00:03:08,719 federal funds to states and schools that allow that to happen. 65 00:03:09,039 --> 00:03:12,360 Pam Bownie's not enforcing that, but maybe she will, so 66 00:03:12,479 --> 00:03:14,759 that's performative. I saw that, and I saw that the 67 00:03:14,800 --> 00:03:18,479 Democrats decided to take these signs that look like dilly bars, 68 00:03:18,560 --> 00:03:20,000 like back in the old days from Darey Queen, you 69 00:03:20,000 --> 00:03:23,639 remember didilly bars? Yeah, and write the little round messages, 70 00:03:23,800 --> 00:03:27,879 so little popstacles, sick and a round message. False is 71 00:03:27,879 --> 00:03:31,759 what it said, false false, And all people have to 72 00:03:31,759 --> 00:03:33,080 do is put on it. I don't know what a 73 00:03:33,080 --> 00:03:36,599 woman is. I'm voting for men in sports. I steal 74 00:03:36,639 --> 00:03:39,599 from taxpayers. And they were doing it live time as 75 00:03:39,599 --> 00:03:42,800 this thing is happening. These guys are being made memes. 76 00:03:43,360 --> 00:03:45,800 And this is so impressive because when you're fighting a 77 00:03:45,800 --> 00:03:49,639 cultural revolution, political means won't end it. In this culture 78 00:03:49,639 --> 00:03:51,919 you have people going, actually, they're actually right, they don't 79 00:03:51,919 --> 00:03:52,719 know what a woman is. 80 00:03:52,879 --> 00:03:55,919 Speaker 3: I thought it was bilant. Yeah, no, it is brilliant. 81 00:03:56,000 --> 00:03:58,879 And I think those are the those are the strings 82 00:03:58,919 --> 00:04:00,919 on the sweater that you need to pull from. And 83 00:04:01,680 --> 00:04:03,639 you know, this is one of the reasons why and 84 00:04:03,680 --> 00:04:05,159 I know you and I have talked about this, but 85 00:04:05,199 --> 00:04:08,879 it's one of the reasons why I appreciated Trump's tone, 86 00:04:09,120 --> 00:04:11,879 especially in the last three months of the election. And 87 00:04:11,960 --> 00:04:14,520 I hope he adheres to it because, like you and 88 00:04:14,520 --> 00:04:16,920 I have said, man soun sue, when your enemy is 89 00:04:16,959 --> 00:04:21,800 defeating himself or destroying himself, don't interrupt, right and just right. 90 00:04:22,480 --> 00:04:25,839 Just put a camera and a microphone in front of 91 00:04:25,879 --> 00:04:31,040 these people and do not interrupt. Let them speak stream 92 00:04:31,079 --> 00:04:33,000 of conscience, Do not get in the way of it, 93 00:04:33,079 --> 00:04:36,800 right right, because they will. You know, look at what 94 00:04:36,920 --> 00:04:42,399 they're doing. They're disagreeing with you, standing against a grown 95 00:04:42,720 --> 00:04:48,040 man giving brain injuries to a teenage girl. Right, So 96 00:04:48,199 --> 00:04:51,439 if that's the side of the argument that these people 97 00:04:51,519 --> 00:04:54,360 want to stand, let them right, right right, let him 98 00:04:54,399 --> 00:04:55,399 defend that ground. 99 00:04:55,639 --> 00:04:55,800 Speaker 2: Right. 100 00:04:56,040 --> 00:04:58,360 Speaker 1: And there was another performative moment where and I don't know, 101 00:04:58,439 --> 00:05:00,639 I kind of bore false Wood this early this week 102 00:05:00,680 --> 00:05:03,959 where he was saying that al Green, Representative Green, was 103 00:05:04,279 --> 00:05:06,199 he it was his turn to get kicked out of 104 00:05:06,240 --> 00:05:09,800 the speech. And maybe he really was outraged because he 105 00:05:10,120 --> 00:05:13,839 is that you know, virtually brain damage or spiritually captured, 106 00:05:13,839 --> 00:05:17,240 that he thinks better women. But he he with his 107 00:05:17,319 --> 00:05:20,879 cane getting removed by the sergeant at arms. I think 108 00:05:20,879 --> 00:05:22,680 what they intended to do, if they did put him 109 00:05:22,720 --> 00:05:25,560 up to that was to get Trump on tilt, to 110 00:05:25,560 --> 00:05:28,800 get him to say something, to be aggressive, and instead 111 00:05:28,839 --> 00:05:31,759 the President stood there with a smug smirk on his face, 112 00:05:32,560 --> 00:05:36,399 a smug smile, doing nothing, just letting the process run 113 00:05:36,439 --> 00:05:40,319 its course. And Speaker Johnson had the guy removed, and 114 00:05:41,319 --> 00:05:43,800 to Green's credit, he didn't hit anybody with his cane. 115 00:05:43,800 --> 00:05:46,199 He didn't try to engineer it. I can't breathe moment, 116 00:05:46,759 --> 00:05:50,680 But that showed great restraint because President Trump hasn't always 117 00:05:50,680 --> 00:05:54,360 had that restraint. Right, Okay, that's always understandable. 118 00:05:54,399 --> 00:05:58,279 Speaker 3: Okay, I'm the guy where the lack of patrons come from, 119 00:05:58,360 --> 00:06:00,560 with what they've done to him. Oh, oh my goodness. 120 00:06:00,639 --> 00:06:03,759 Absolutely right, So that's the good. 121 00:06:06,000 --> 00:06:10,959 Speaker 1: There's a challenge ethically, and you warned us about this challenge, 122 00:06:11,480 --> 00:06:13,199 so I want to get to that. So we'll get 123 00:06:13,199 --> 00:06:16,000 to that with Zach Abraham, Chief and Jest Officer Capital Management, 124 00:06:16,680 --> 00:06:19,600 because we're going to tell truth about things related to 125 00:06:19,600 --> 00:06:22,120 the Trump administration, even when it's going to anger people 126 00:06:22,199 --> 00:06:26,279 who are huge fans of President Trump. I support his policies. 127 00:06:26,360 --> 00:06:28,720 I love ninety percent of what he's doing. But we're 128 00:06:28,720 --> 00:06:30,319 going to call things like this out. And we'll do 129 00:06:30,360 --> 00:06:32,240 this in just a second, because corruption is something we 130 00:06:32,279 --> 00:06:34,560 don't like in this program. I can't stand the corruption 131 00:06:34,600 --> 00:06:38,120 of the medical field. I just now confirmed through text 132 00:06:38,360 --> 00:06:40,519 with my friend Steve Anderson, who runs re New Healthcare. 133 00:06:40,920 --> 00:06:44,360 I'm going down there in April and I'm going to 134 00:06:44,399 --> 00:06:46,639 get stem cells in my left shoulder what never got 135 00:06:46,639 --> 00:06:49,800 stem cells because it's flording with an injury again. And 136 00:06:49,839 --> 00:06:51,439 you and me and Zach are going to go down 137 00:06:51,439 --> 00:06:53,720 in June. So we're going to go down in June. 138 00:06:53,759 --> 00:06:56,120 We're creating that date. Put that in your mind. Get 139 00:06:56,120 --> 00:06:58,680 down to Renewed Dout Healthcare and get your treatment plans 140 00:06:58,680 --> 00:07:00,839 started now, so you can hang out with me and 141 00:07:00,920 --> 00:07:02,519 Zach while we do a bunch of shows down there, 142 00:07:02,560 --> 00:07:04,800 hang out in the beach. What I'm gonna get in 143 00:07:04,879 --> 00:07:07,000 my shoulder are stem cells that are going to get 144 00:07:07,000 --> 00:07:10,800 in and destroy inflammation and then rebuild what is probably 145 00:07:10,839 --> 00:07:14,199 another tiny little tear in muscle intended tiny, May it 146 00:07:14,240 --> 00:07:15,920 stay tiny, because I'm in the midst of the CrossFit 147 00:07:15,959 --> 00:07:19,199 open those things. Those stem cells come from placentas in 148 00:07:19,240 --> 00:07:22,040 umbilical cords only. And the reason I use renew is 149 00:07:22,040 --> 00:07:24,000 because they are the best at this, proven by the 150 00:07:24,000 --> 00:07:26,680 fact that they culture these stem cells in a world 151 00:07:26,759 --> 00:07:30,360 class lab. They've got the largest hyperbaric chamber in North America. 152 00:07:30,680 --> 00:07:34,560 They have located themselves across the street from a luxury 153 00:07:34,600 --> 00:07:37,199 inclusive resort. And I will go down and I will 154 00:07:37,240 --> 00:07:40,079 walk five minutes for treatment. You can have the same 155 00:07:40,160 --> 00:07:43,480 thing for pain, carpal tunnel, even traumatic brain injuries. I've 156 00:07:43,480 --> 00:07:46,040 seen great results with this. Zach knows some people who 157 00:07:46,199 --> 00:07:49,120 couldn't get arthritis out of their hands. This stuff destroyed 158 00:07:49,120 --> 00:07:52,120 the arthritis. It's renew our E n U e dot Healthcare. 159 00:07:52,120 --> 00:07:54,079 Please tell them you're part of the Todd Hermer Show family. 160 00:07:54,360 --> 00:07:58,680 R E n ue dot Healthcare. So, Zach Abraham, chief 161 00:07:58,720 --> 00:08:01,399 investment Officer, Bobert Capital Management, we are not going to 162 00:08:01,480 --> 00:08:04,319 shy away from talking about some of the ethical challenges 163 00:08:04,439 --> 00:08:08,279 with President Trump, or at least occasions where this could 164 00:08:08,319 --> 00:08:12,040 be the case. So there's a crypto mogul and he 165 00:08:12,079 --> 00:08:14,879 made an interesting decision. This guy's name is Justin's son, 166 00:08:14,920 --> 00:08:18,920 thirty five year old, a Chinese crypto entrepreneur. He decided 167 00:08:18,959 --> 00:08:22,680 to invest seventy five million dollars into a certain coin 168 00:08:23,439 --> 00:08:27,560 and he'd been under investigation for corruption and the SEC 169 00:08:27,639 --> 00:08:30,519 has decided to stop to take a pause on that. 170 00:08:31,600 --> 00:08:32,840 What coin did he invest in? 171 00:08:34,679 --> 00:08:35,320 Speaker 3: The Trump coin? 172 00:08:36,840 --> 00:08:40,360 Speaker 1: You say, with reluctance and not a bit of pleasure. 173 00:08:40,440 --> 00:08:42,440 You warned us, You warned us about this. 174 00:08:43,120 --> 00:08:48,120 Speaker 3: Yeah, it just like I said. And I thought your 175 00:08:48,120 --> 00:08:53,519 preamble was perfect, because the reason that I'm calling that 176 00:08:53,679 --> 00:08:56,559 out is because I'm cheering for him so much, cheering 177 00:08:56,600 --> 00:08:58,879 for the president. Yeah, one hundred percent. The reason I'm 178 00:08:58,879 --> 00:09:02,159 calling it out is because I think that the current 179 00:09:02,200 --> 00:09:09,039 situation is too dire to risk the optics, you know, 180 00:09:09,080 --> 00:09:10,919 And it was the analogy you and I used about 181 00:09:10,919 --> 00:09:15,039 it talking about it the other day about I can 182 00:09:15,080 --> 00:09:21,759 see the guys I'm blanking out scarface, uh, Chicago mobster, untouchable, elliot, 183 00:09:22,600 --> 00:09:26,320 alcohol clone right in alcohol, just complete brain brain freeze there. 184 00:09:27,600 --> 00:09:27,759 Speaker 2: You know. 185 00:09:28,039 --> 00:09:31,159 Speaker 3: It was like in the Untouchables, the movie The Untouchables. 186 00:09:31,200 --> 00:09:32,679 You know, they went around and they found guys that 187 00:09:32,720 --> 00:09:35,480 were beyond reproach because you knew that if we're wading 188 00:09:35,519 --> 00:09:40,720 into this cesspool, we must have white hands, we must 189 00:09:40,720 --> 00:09:45,000 be clean, we must be beyond reproach. And when you 190 00:09:45,039 --> 00:09:48,799 look at what he's taking on, it just scares me 191 00:09:48,919 --> 00:09:52,960 to see these these types of things around him and 192 00:09:53,039 --> 00:09:57,960 around the administration that can so easily be taken advantage 193 00:09:58,000 --> 00:10:00,519 of situation. I mean, for instance, look at this situation 194 00:10:00,720 --> 00:10:04,240 right when and and quite honestly, I think the mainstream 195 00:10:04,279 --> 00:10:07,159 media is at this point is probably just too stupid 196 00:10:07,200 --> 00:10:10,759 to catch on to it. But but they will. They're 197 00:10:10,799 --> 00:10:12,200 you know, they're gonna come right out of the gate. 198 00:10:12,279 --> 00:10:16,759 Oh look at this obvious great Okay, most plausibly, Trump 199 00:10:16,799 --> 00:10:19,200 had absolutely no clue who was buying it. I bet 200 00:10:19,279 --> 00:10:23,039 you it's probably there's probably a situation where Trump, I 201 00:10:23,039 --> 00:10:25,120 bet you Trump doesn't even know the guy bought seventy 202 00:10:25,120 --> 00:10:27,080 five million dollars worth of coin. Okay, that's bet I'm 203 00:10:27,080 --> 00:10:30,720 willing to make the problem is the optics are off right, 204 00:10:31,279 --> 00:10:32,120 And what if he did know? 205 00:10:33,679 --> 00:10:36,159 Speaker 1: What if he did know, John that Junior knew and 206 00:10:36,279 --> 00:10:37,960 all the things we said about Hunter and we were 207 00:10:38,000 --> 00:10:38,639 right about Hunter. 208 00:10:39,200 --> 00:10:39,440 Speaker 3: Yep. 209 00:10:39,519 --> 00:10:41,759 Speaker 1: Hunter is an unregistered fore an agent. He should be 210 00:10:41,759 --> 00:10:45,399 in prison. Other people would be in prison. But what 211 00:10:45,480 --> 00:10:47,960 if Eric Trump or Laura Trump or someone in the 212 00:10:47,960 --> 00:10:50,240 Trump friendly Because at my understanding is they all have 213 00:10:50,279 --> 00:10:54,559 a piece of this that they knew. I don't want 214 00:10:54,600 --> 00:10:56,360 it to be the case because I'm rooting for the 215 00:10:56,360 --> 00:10:58,960 president to win the culture war because he's the first 216 00:10:59,279 --> 00:11:02,639 and only rep Publican president to ever understand there is 217 00:11:02,679 --> 00:11:05,279 a culture war and God's using him. I don't even 218 00:11:05,279 --> 00:11:07,919 think President Trump fully understands the way God's using him. 219 00:11:08,200 --> 00:11:11,480 Speaker 3: Oh yeah, yeah. I mean I don't know that any 220 00:11:11,519 --> 00:11:14,440 of us fully you know, well, I know that none 221 00:11:14,480 --> 00:11:15,840 of us fully understand it, right. 222 00:11:15,879 --> 00:11:17,639 Speaker 1: How God for him? 223 00:11:17,720 --> 00:11:22,120 Speaker 3: Yeah, oh yeah, right right. The chess means the chess 224 00:11:22,120 --> 00:11:24,320 pieces that are in movement right where they're going, the 225 00:11:24,600 --> 00:11:27,399 gambits that are being played right now on our behalf, 226 00:11:27,440 --> 00:11:29,240 and that we're a part of some or not, you know, 227 00:11:29,279 --> 00:11:32,200 all these different Indians and outs. What I do know though, 228 00:11:32,200 --> 00:11:35,159 in these scenarios, like I said, it's just you know, 229 00:11:35,159 --> 00:11:39,000 it's just common sense or it's all too uncommon. But 230 00:11:39,080 --> 00:11:41,879 in terms of leadership, in terms of tackling things like these, 231 00:11:42,200 --> 00:11:46,200 when you're going after dirt, cleanliness has never been more important. 232 00:11:46,360 --> 00:11:49,879 And just the optics around it, like I was saying, 233 00:11:49,960 --> 00:11:52,679 it does nothing but distract, It does nothing to pull away. 234 00:11:53,159 --> 00:11:55,279 And then like you said, the other part of it 235 00:11:55,320 --> 00:11:58,200 too is when you're talking about sums of money that 236 00:11:58,240 --> 00:12:00,440 are this large, and this is what I was concerned about, 237 00:12:00,639 --> 00:12:02,759 the day after this announcement got made that they were 238 00:12:02,799 --> 00:12:06,480 launching coins. Nothing's to stop anybody from going in there 239 00:12:06,480 --> 00:12:09,960 and buying two hundred million dollars three hundred million dollars, right, Okay, 240 00:12:10,080 --> 00:12:13,320 Now Trump is rich, but three hundred million dollars is 241 00:12:13,320 --> 00:12:16,320 three hundred million dollars, right? Even Trump's gonna across the 242 00:12:16,360 --> 00:12:17,279 street for three hundred million. 243 00:12:17,360 --> 00:12:19,000 Speaker 1: Yeah, And so you and I if we lose twenty 244 00:12:19,039 --> 00:12:22,279 bucks for an ago, where the heck is that twenty yeah? 245 00:12:22,360 --> 00:12:26,399 Speaker 3: Yeah, yeah, yeah yeah, so yeah, so so you know 246 00:12:27,320 --> 00:12:31,120 I just did this stuff. Yeah, it just troubles me, 247 00:12:31,240 --> 00:12:34,480 and it scares me. And the other reason why we 248 00:12:34,519 --> 00:12:35,840 have to talk about it. And I was having this, 249 00:12:36,080 --> 00:12:37,759 you know, I was having a conversation with my children 250 00:12:37,799 --> 00:12:40,840 about this the other night, which is, you know, part 251 00:12:40,840 --> 00:12:45,200 of leadership and part of choosing the hard road or whatever, 252 00:12:46,039 --> 00:12:49,720 is that you're gonna hold yourself more importantly than anybody 253 00:12:49,720 --> 00:12:53,519 else to these standards, right exactly, and that I will 254 00:12:53,519 --> 00:12:55,559 not ask I remember my dad teaching me this. You know, 255 00:12:55,600 --> 00:12:58,799 one of the most important aspects of leadership in my opinion, 256 00:12:58,840 --> 00:13:00,960 is you know, I will not ask of you something 257 00:13:00,960 --> 00:13:04,919 that I'm not willing to do myself right. And what 258 00:13:05,120 --> 00:13:07,200 is the left not willing to do. They're not willing 259 00:13:07,240 --> 00:13:12,080 to be honest at all? Winning political right because if 260 00:13:12,360 --> 00:13:16,759 you don't believe, you're godless, and winning competitions on this 261 00:13:16,840 --> 00:13:19,600 earth is the only thing that matters. Right, when you 262 00:13:19,679 --> 00:13:21,919 believe in God and you fear God, you realize that 263 00:13:21,960 --> 00:13:23,399 we're going to win some, we're going to lose some. 264 00:13:23,519 --> 00:13:27,320 The important thing is how we do that because right 265 00:13:27,360 --> 00:13:29,360 because we know we win the war, we got to 266 00:13:29,360 --> 00:13:32,000 make sure we're on the right side. But it's how 267 00:13:32,039 --> 00:13:35,519 we do it that's the most you know, ends justify 268 00:13:35,600 --> 00:13:38,720 the means we're called to live oppicely exactly. 269 00:13:39,000 --> 00:13:40,919 Speaker 1: There's going to come a time, you know, and and 270 00:13:41,440 --> 00:13:45,080 where all the treasure you built up on earth, when 271 00:13:45,200 --> 00:13:47,679 you die and you go in before the Lord, before 272 00:13:47,679 --> 00:13:49,759 the throne of judgments, you are going to know at 273 00:13:49,759 --> 00:13:53,240 that point, oh that stuff is all gone, right, and 274 00:13:53,480 --> 00:13:56,120 these where's my lawyer? Now you don't get one. It's 275 00:13:56,200 --> 00:14:00,000 just you and Jesus. You don't get a lawyer. And secondly, 276 00:14:00,039 --> 00:14:02,840 God those everything has already made the judgment. And as 277 00:14:02,840 --> 00:14:04,480 I'm looking at this, I also look at this side 278 00:14:04,480 --> 00:14:06,759 by side analysis, Zach, I mean you're the chief investment 279 00:14:06,759 --> 00:14:09,919 officer Bold Capital Management. It's I mean, yes, it's a corporation. 280 00:14:10,559 --> 00:14:14,360 It's a separate thing from you. And something tells me 281 00:14:14,919 --> 00:14:19,480 that if you had, for instance, say you know, had 282 00:14:19,519 --> 00:14:22,559 a brother in law invest in a company, and suddenly 283 00:14:22,600 --> 00:14:25,399 you started talking about that company and suggesting that people 284 00:14:25,440 --> 00:14:27,200 invest in, I would think that the SEC might come 285 00:14:27,240 --> 00:14:32,200 along and say, hey, Zach, so why are you pumping 286 00:14:32,240 --> 00:14:35,279 this company your brother in law invested in? And I 287 00:14:36,279 --> 00:14:40,679 don't think I don't want to answer that question, would suffice, right, 288 00:14:40,960 --> 00:14:44,440 but for some reason, but then it extends further. So 289 00:14:44,519 --> 00:14:47,799 the SEC was all over this guy. They paused the case, 290 00:14:48,480 --> 00:14:52,000 but now the story thickens. This is something President Trump 291 00:14:52,000 --> 00:14:55,440 posted this past week. A US crypto reserve will elevate 292 00:14:55,480 --> 00:14:58,759 this critical industry after years of corrupt attacks by Biden administration, 293 00:14:59,080 --> 00:15:01,639 which is why my execut Cative Order on Digital Assets 294 00:15:01,639 --> 00:15:04,480 directed to Presidential Working Group to move forward on a 295 00:15:04,480 --> 00:15:08,600 crypto Strategic Reserve that includes X RP, S O, L 296 00:15:08,639 --> 00:15:10,799 and A D A I on make sure the US 297 00:15:10,879 --> 00:15:12,919 is the crypto cap of the world. We're making America 298 00:15:12,960 --> 00:15:17,159 great again. Okay, let's start first of all, you, as 299 00:15:17,200 --> 00:15:20,759 the chief investment Officer bower Kepital Management, Zach Abraham, you 300 00:15:20,840 --> 00:15:23,200 take just that temperature, what do you respond to that, 301 00:15:23,240 --> 00:15:25,200 it's just a financial mind and then we'll talk about 302 00:15:25,240 --> 00:15:25,759 more corruption. 303 00:15:27,480 --> 00:15:30,840 Speaker 3: Again. Brings me no pleasure to say this. I think 304 00:15:30,879 --> 00:15:34,759 it's completely nonsense. I don't. I don't think they look 305 00:15:34,759 --> 00:15:39,720 and here's why, a strategic reserve this stuff doesn't have IP. 306 00:15:42,039 --> 00:15:42,399 Speaker 1: Intellection. 307 00:15:44,039 --> 00:15:46,240 Speaker 3: What in the world do you need a strategic reserve 308 00:15:46,279 --> 00:15:48,519 of something that there's got no intellectual property of it. 309 00:15:48,720 --> 00:15:50,120 You could have a team, you could have a team 310 00:15:50,120 --> 00:15:53,480 of developers at any point you wanted just copying the 311 00:15:53,559 --> 00:15:56,320 IP say it's sponsored by the US and stick it 312 00:15:56,320 --> 00:15:59,840 out there. I like, there's no point to this. I 313 00:16:00,320 --> 00:16:02,840 just again, I again, I would just sit there and go, 314 00:16:02,960 --> 00:16:05,320 this is a potential distraction that could take away from 315 00:16:05,639 --> 00:16:08,639 what's really going on. The vast majority of coins he's 316 00:16:08,679 --> 00:16:11,480 talking about, and they're completely worthless. I think the vast 317 00:16:11,480 --> 00:16:14,159 majority of those coins are completely worthless. I think the 318 00:16:14,159 --> 00:16:18,519 only thing really valuable in cryptocurrency is the blockchain technology itself. 319 00:16:18,720 --> 00:16:20,240 I think that's the only thing that will really live 320 00:16:20,279 --> 00:16:24,159 on from this. Bitcoin I think might be a store 321 00:16:24,159 --> 00:16:26,600 of value, but you know, you're sitting there watching it 322 00:16:26,679 --> 00:16:28,960 right like, So you know, I mean, let's look at 323 00:16:29,000 --> 00:16:31,799 bitcoin and I and you know, I hate even bringing 324 00:16:31,799 --> 00:16:34,840 this up because people go Zach doesn't understand crypto. Yes, guys, 325 00:16:34,960 --> 00:16:37,720 I understand crypto more thoroughly than almost anybody you hear 326 00:16:37,759 --> 00:16:40,240 talk about it because I remember the day bitcoin was launched, 327 00:16:40,480 --> 00:16:43,279 we were looking for dollar alternatives. I love the idea 328 00:16:43,279 --> 00:16:46,279 of bitcoin. I love that, I love the blockchain. I 329 00:16:46,279 --> 00:16:48,919 love how elegant it is perfectly put together. That's not 330 00:16:49,000 --> 00:16:52,080 the issue. The issue with crypto has never been about 331 00:16:52,120 --> 00:16:55,279 is crypto good? Is the technology good enough? The issue 332 00:16:55,279 --> 00:17:00,240 with crypto is central banks have the soul ability to 333 00:17:00,279 --> 00:17:03,399 create money out of thin air. If you think that 334 00:17:03,639 --> 00:17:08,519 any elected body of people is going to forfeit that singular, right, 335 00:17:08,599 --> 00:17:12,359 you're out of your mind. So it just I just 336 00:17:13,640 --> 00:17:16,240 they should be staying as far away from the crypto 337 00:17:16,359 --> 00:17:19,599 universe as they possibly can because all of the greatest 338 00:17:19,599 --> 00:17:23,480 crooks and scoundrels in this industry have invaded that industry 339 00:17:23,759 --> 00:17:27,400 because it's the wild West. We've seen it before. It's 340 00:17:27,440 --> 00:17:29,799 like the junior mining days back in the early eighties 341 00:17:30,039 --> 00:17:33,720 on the Toronto Stock Exchange, right, ninety percent of every 342 00:17:33,720 --> 00:17:36,079 new issue was fraudulent in some way, and cryptos much 343 00:17:36,119 --> 00:17:36,599 the same way. 344 00:17:36,799 --> 00:17:40,000 Speaker 1: Yeah, and this guy Ben Norton wrote this Benjamin Norton 345 00:17:40,599 --> 00:17:43,680 about this very event. This is on Twitter. Jaw dropping 346 00:17:43,720 --> 00:17:46,960 coruption into the US. Trump's billionaire cryptos ares heavily invested 347 00:17:47,000 --> 00:17:49,400 into fund whose top five holdings are in the five 348 00:17:49,720 --> 00:17:53,799 US Government Crypto Strategic Reserve. Mere hours before Trump announced 349 00:17:53,799 --> 00:17:57,519 that someone bought two hundred million dollars in ethereum and 350 00:17:57,559 --> 00:18:02,680 bitcoin on fifty times levelge So number one, if they're 351 00:18:02,799 --> 00:18:05,920 doing fifty times leverage, they're counting on that going up. 352 00:18:05,920 --> 00:18:06,839 It would seem to me. 353 00:18:08,480 --> 00:18:12,519 Speaker 3: So in the okay, So legitimately, if this was done 354 00:18:12,519 --> 00:18:17,119 in equity markets, that trade would get flagged by regulators automatically. 355 00:18:17,559 --> 00:18:22,359 Automatically because the like you just said, when somebody is 356 00:18:22,400 --> 00:18:27,839 making a bet with that much leverage, they're either insanely reckless, 357 00:18:28,279 --> 00:18:31,519 which if they're reckless, they'd have a hard time getting 358 00:18:31,519 --> 00:18:37,160 a marker that large, right, So they're probably not. But 359 00:18:37,319 --> 00:18:39,759 what it tells you is there's a high level of certainty. 360 00:18:39,960 --> 00:18:42,079 Where there is a high level of certainty, there is 361 00:18:42,079 --> 00:18:48,200 insider knowledge, like I cannot tell you literally, probably greater 362 00:18:48,279 --> 00:18:53,240 than eighty percent of inside trading prosecutions that occur occur 363 00:18:53,599 --> 00:18:57,200 because the first sign of trouble is they see a 364 00:18:57,279 --> 00:19:01,640 leverage bet like that. It's just it's telltale sign. So 365 00:19:01,720 --> 00:19:03,640 you don't go fifty to one leverage on something that 366 00:19:03,680 --> 00:19:04,960 you don't know is going to hit. 367 00:19:05,039 --> 00:19:06,880 Speaker 1: Yeah, and if you're going fifty to one leverage, if 368 00:19:06,920 --> 00:19:10,160 there's any interest on that loan at all, you're going 369 00:19:10,200 --> 00:19:11,839 to pay back more than fifty times. 370 00:19:12,359 --> 00:19:14,640 Speaker 3: Oh and the margin calls, I mean, the amount of 371 00:19:14,680 --> 00:19:17,119 collateral you got to if that thing goes against you 372 00:19:17,240 --> 00:19:21,319 five percent, right, A five percent? Well yeah, because you're 373 00:19:21,400 --> 00:19:24,079 levered fifty to one, right, so if you you get 374 00:19:24,079 --> 00:19:27,039 a five percent move against you, you're down two hundred 375 00:19:27,039 --> 00:19:29,720 and fifty percent of you're originally invested capital. I mean 376 00:19:29,720 --> 00:19:31,880 that might not be the exact, but it's somewhere around them. 377 00:19:32,839 --> 00:19:35,119 So yeah, no, yeah, So I mean, yeah, I mean, 378 00:19:35,160 --> 00:19:38,440 if you if it, I mean, a one percent loss 379 00:19:38,519 --> 00:19:40,880 on a position that's levered fifty to one would trigger 380 00:19:40,920 --> 00:19:45,359 a margin call. A one percent, yeah, because a twenty 381 00:19:45,400 --> 00:19:49,000 five percent move against your basis triggers a margin call. 382 00:19:49,079 --> 00:19:51,799 So yeah, they you just wouldn't make that bet unless 383 00:19:51,799 --> 00:19:52,359 you knew. 384 00:19:52,799 --> 00:19:56,079 Speaker 1: In a nation that has the fiat currency for the world. 385 00:19:56,599 --> 00:19:58,279 This is one thing that's remarkable to me and it 386 00:19:58,279 --> 00:20:00,240 never o curds to me until you explain this to me. 387 00:20:00,519 --> 00:20:03,519 H and at Bulwark and you have to track to something. 388 00:20:03,599 --> 00:20:05,599 You know, It's not like you don't have a little 389 00:20:05,640 --> 00:20:08,240 bits of money here or there in crypto. You've told 390 00:20:08,279 --> 00:20:09,799 me that from time to time bulwork. 391 00:20:09,519 --> 00:20:11,880 Speaker 3: Does you've made great money trading bitcoin? Yeah? 392 00:20:11,960 --> 00:20:15,039 Speaker 1: Right, okay. But the other thing about this is that 393 00:20:15,119 --> 00:20:19,880 these things are these are fiat currencies themselves. They are 394 00:20:19,920 --> 00:20:23,079 designed to destroy a fiat currency, and they get more 395 00:20:23,119 --> 00:20:25,000 fiotic every day. I made that word up, but I 396 00:20:25,000 --> 00:20:27,000 think that's a pretty good I like that. I like, 397 00:20:27,079 --> 00:20:29,519 Am I wrong? Or have they become more fiotic? Particularly 398 00:20:29,519 --> 00:20:31,720 now that there's a strategic reserve? The United States is 399 00:20:31,759 --> 00:20:34,200 basically saying, hey, guys, we're buyers. 400 00:20:34,440 --> 00:20:35,200 Speaker 3: We're long. 401 00:20:35,319 --> 00:20:36,839 Speaker 1: Didn't he just announce we're long on this? 402 00:20:37,640 --> 00:20:39,559 Speaker 3: Yeah? Well. The other thing is too is in a 403 00:20:39,559 --> 00:20:42,440 world of fiat currency, who's the guy that rules. It's 404 00:20:42,440 --> 00:20:46,799 the guy. It's who's whose fiat currency is the least 405 00:20:46,839 --> 00:20:49,519 FIATI that everybody wants. It's it's the guy with the 406 00:20:49,519 --> 00:20:53,440 biggest military. Oh, I mean, right at the end of 407 00:20:53,480 --> 00:20:55,640 the day. I mean, think about it if we're ranking 408 00:20:55,960 --> 00:20:58,200 because I mean there's really right, there's what I mean, 409 00:20:58,240 --> 00:21:00,839 if we're ranking city states or or or you know, 410 00:21:02,519 --> 00:21:05,480 sovereign states in terms of power and ranking them. Right, 411 00:21:05,759 --> 00:21:07,839 there's two primary ways we're going to look at that, 412 00:21:08,000 --> 00:21:11,920 which is military might and financial you know, solvency financial 413 00:21:11,920 --> 00:21:14,559 wherewith all things that nature, Well, the best way to 414 00:21:14,559 --> 00:21:16,119 look at military and I might is look at the 415 00:21:16,160 --> 00:21:18,960 rank of their their military compared to everybody else out there, 416 00:21:19,359 --> 00:21:23,200 you know, especially those others that would be global players. Uh. 417 00:21:23,240 --> 00:21:25,880 And then and then on the financial side, it's not perfect, 418 00:21:25,920 --> 00:21:28,160 but you know, a really easy way to judge who 419 00:21:28,279 --> 00:21:30,680 was the biggest financial player at any given time in 420 00:21:30,720 --> 00:21:34,640 the world look at whose currency was most widely utilized. Right, 421 00:21:34,880 --> 00:21:39,039 So yeah, I mean it's they are getting FIODI just 422 00:21:39,440 --> 00:21:42,759 it's they don't have they don't have a Congress, they 423 00:21:42,799 --> 00:21:44,599 don't have a Federal Reserve Bank, and they don't have 424 00:21:44,599 --> 00:21:45,319 a military and. 425 00:21:47,200 --> 00:21:47,400 Speaker 4: That. 426 00:21:47,960 --> 00:21:52,680 Speaker 1: Other than that, yeah, fantastic. I've had this conversation with 427 00:21:52,799 --> 00:21:55,279 tons of time with friends about this who are big 428 00:21:55,319 --> 00:21:57,440 into crypto and they'll say things like it todd, do 429 00:21:57,440 --> 00:22:00,400 you don't understand blockchain? And the fact is that government 430 00:22:00,400 --> 00:22:03,440 can't replicate this. We can track all the trades, so 431 00:22:03,480 --> 00:22:06,279 this has become worth something and there's nothing the government 432 00:22:06,359 --> 00:22:09,640 can do. And I'm like, wait, guys, wait for a second, 433 00:22:09,680 --> 00:22:12,039 hold on, like to you don't how hard it is 434 00:22:12,079 --> 00:22:14,839 to crack this, to hack it? It's okay, but wait stop? 435 00:22:15,680 --> 00:22:17,440 What about when the government comes along and says, yeah, 436 00:22:17,559 --> 00:22:20,599 we'll go and take your service or we'll just take 437 00:22:20,640 --> 00:22:23,599 you Because I'm here to tell you if a president 438 00:22:23,640 --> 00:22:24,720 can seize gold. 439 00:22:25,319 --> 00:22:27,000 Speaker 3: I was just going to say, this is the same 440 00:22:27,039 --> 00:22:32,279 government that made gold ownership illegal in thirty three I believe. Yeah, right, 441 00:22:32,440 --> 00:22:34,799 So I mean, what are you guys talking about? 442 00:22:34,920 --> 00:22:35,079 Speaker 2: Right? 443 00:22:35,319 --> 00:22:37,319 Speaker 3: And if you don't think these people can, I mean, 444 00:22:37,400 --> 00:22:41,720 think about think about how they hacked Mount Dox. Remember that. Okay, 445 00:22:41,759 --> 00:22:46,039 why is anybody sure that that wasn't done by government actors? 446 00:22:46,559 --> 00:22:48,240 Speaker 1: Because I would never do that. That would be like, 447 00:22:48,359 --> 00:22:49,480 you know, wrong or something. 448 00:22:50,440 --> 00:22:52,279 Speaker 3: So I got something called the Twitter files that I'd 449 00:22:52,319 --> 00:22:57,160 like you to read. You know, no, and look, and 450 00:22:57,240 --> 00:22:59,680 what these people need to understand is I've taken so 451 00:22:59,759 --> 00:23:02,319 much blowback on this, and I look at them and 452 00:23:02,359 --> 00:23:05,920 I go listen. I hope you're right. I'm cheering for 453 00:23:06,000 --> 00:23:08,559 bitcoin when I tell you, I don't think it's going 454 00:23:08,640 --> 00:23:11,960 to be what everybody says it is. It's not because 455 00:23:12,000 --> 00:23:15,519 I don't think it's superior to any fiat currency out there. 456 00:23:15,920 --> 00:23:19,720 I do. I think it's much superior. Okay, but there 457 00:23:19,759 --> 00:23:23,279 is an issue. It will never ever be a reserve 458 00:23:23,359 --> 00:23:27,599 currency because it is a deflationary asset bar none, full stop. 459 00:23:27,680 --> 00:23:31,200 Anybody that argues that knows nothing about currencies or money, okay, 460 00:23:31,480 --> 00:23:36,400 it cannot be. The second if you're also betting that 461 00:23:36,480 --> 00:23:39,599 the central banks and the powers that be are going 462 00:23:39,680 --> 00:23:43,559 to either lose control or forfeit control over the international 463 00:23:43,599 --> 00:23:47,799 monetary system. If you think that's going to happen, I 464 00:23:47,839 --> 00:23:49,880 hope you're right. I hope you're right. 465 00:23:50,079 --> 00:23:51,839 Speaker 1: But it's not. 466 00:23:52,039 --> 00:23:54,759 Speaker 3: It never has, it never will. You're out of your mind. 467 00:23:55,039 --> 00:23:59,920 Speaker 1: Now, power never at that level surrenders power on its own. 468 00:24:01,279 --> 00:24:04,480 And Zach, you know at at Bulwark, you guys have 469 00:24:04,559 --> 00:24:06,960 to track this so carefully. And I love the fact 470 00:24:06,960 --> 00:24:09,720 that you're able to speak honestly about it and that 471 00:24:09,799 --> 00:24:12,000 you're able to actually do this from a perspective of 472 00:24:12,119 --> 00:24:14,160 rooting for it to win. You can know more about 473 00:24:14,240 --> 00:24:17,119 Zach just going to know your Risk Radio dot com. 474 00:24:17,519 --> 00:24:19,720 And I want to just real quick, I want to 475 00:24:19,759 --> 00:24:22,079 I want to transfer topics a little bit Zach here, 476 00:24:22,279 --> 00:24:23,799 but I want to I want to keep on the 477 00:24:23,839 --> 00:24:26,759 track of corruption with this credit card move President Trump made. 478 00:24:27,000 --> 00:24:29,799 But then there's something else. You said something the other 479 00:24:29,880 --> 00:24:33,880 day about government spending, and I was reading the coverage 480 00:24:34,640 --> 00:24:37,440 over you know, a lot of the economy, and I'm 481 00:24:37,480 --> 00:24:39,759 trying to read leftists and people who are panic about 482 00:24:39,759 --> 00:24:42,480 the economy, and there are people pointing out that President 483 00:24:42,519 --> 00:24:48,599 Trump is crashing the economy by lowering government spending and right, 484 00:24:48,759 --> 00:24:51,200 And I want to address this from something you said 485 00:24:51,200 --> 00:24:56,400 the other day about how government debts and government liabilities 486 00:24:56,559 --> 00:24:59,839 are actually sometimes things that can on the surface, appear 487 00:24:59,880 --> 00:25:01,839 to be helping the economy. So we'll talk about that 488 00:25:01,920 --> 00:25:04,400 was Zach Abraham, Chief and vestm officer bol Capital Management. 489 00:25:04,599 --> 00:25:06,880 There's many things you can do that appear to be 490 00:25:07,000 --> 00:25:09,960 helping you. So one of the things that might appear 491 00:25:10,000 --> 00:25:13,759 to be helping you is taking something like benadrill to sleep. 492 00:25:14,519 --> 00:25:16,839 So I've done this. I was just going through a 493 00:25:16,960 --> 00:25:19,920 form I'm seeing my hormone doc coming up this week 494 00:25:20,000 --> 00:25:22,720 to I see her on a quarterly basis, and she 495 00:25:22,759 --> 00:25:24,319 always said, as we go through and do this form. 496 00:25:24,640 --> 00:25:26,640 And I was down to the section on sleep. I thought, 497 00:25:26,680 --> 00:25:30,000 that's right. I did used to abuse better drill to sleep. 498 00:25:30,079 --> 00:25:33,400 And guys, I get it. It knocks you out. I 499 00:25:33,480 --> 00:25:37,480 get it. You're not alert. You have the illusion of sleep. 500 00:25:38,240 --> 00:25:41,559 Let me explain what's actually going on. You are passed out. 501 00:25:41,839 --> 00:25:43,799 You don't have a rem cycle, you don't have a 502 00:25:43,839 --> 00:25:47,119 deep sleep cycle. You are unaware of things because your 503 00:25:47,119 --> 00:25:51,680 brain has effectively been Deadn't that is not sleep. It's 504 00:25:51,839 --> 00:25:55,759 very similar with melatonin. That melatonin you can man and 505 00:25:55,880 --> 00:25:58,960 I ate melatonin for a while. I'd eat a couple tablets. 506 00:25:59,000 --> 00:26:00,640 That was good. What if I eat four or five 507 00:26:01,079 --> 00:26:04,359 and I was completely unconscious to the world and then 508 00:26:04,440 --> 00:26:07,319 all of a sudden, I'm confused and I'm anxious and 509 00:26:07,759 --> 00:26:11,079 I didn't get my refrag done in my brain. I 510 00:26:11,079 --> 00:26:15,240 didn't get this file stored. That's because it's not sleep. Okay, 511 00:26:15,279 --> 00:26:18,319 it's like being It's like being knocked out. Guys, just 512 00:26:18,359 --> 00:26:22,720 do this. Go to magnesium breakthrough. It alleviates stress by 513 00:26:22,720 --> 00:26:26,519 controlling a stress home or cortisol. That's my experience with it. 514 00:26:26,519 --> 00:26:30,000 It helps me fall asleep, the pleasure of just naturally 515 00:26:30,039 --> 00:26:32,720 losing consciousness. When I do wake up, I go back 516 00:26:32,759 --> 00:26:35,160 to sleep. And guys, if sleep is a super big problem, 517 00:26:35,640 --> 00:26:39,480 buy Sleep Breakthrough along with Magnesium Breakthrough. Stack those two 518 00:26:39,480 --> 00:26:42,279 things together. My experience has been it does not fail 519 00:26:42,359 --> 00:26:44,960 to deliver sleep. So here's how to save ten percent. 520 00:26:45,000 --> 00:26:48,160 Go to Bioptimizers dot com slash tod use promo code 521 00:26:48,160 --> 00:26:50,880 tod to get tempercent off all the biptimizer's products, including 522 00:26:50,880 --> 00:26:54,839 Magnesium Breakthrough and Sleep Breakthrough. When you subscribe. That way 523 00:26:54,839 --> 00:26:56,359 you don't run out of product. That way you don't 524 00:26:56,440 --> 00:26:59,119 run out of sleep. They'll send you exclusive discounts and 525 00:26:59,160 --> 00:27:02,359 free gifts when you subscribe Boptimizers dot com slash todd 526 00:27:02,359 --> 00:27:06,319 promo code Todd. So Zach, President Trump did an extraordinary thing. 527 00:27:07,359 --> 00:27:09,880 Probably a judge would tell him, you can't cancel people's 528 00:27:09,880 --> 00:27:13,240 government credit cards. Not too legal. So he's lowered the 529 00:27:13,279 --> 00:27:17,039 spending limit to one dollar per card. And this is 530 00:27:17,079 --> 00:27:21,720 coming after we've seen people's spending. I think they said 531 00:27:21,759 --> 00:27:26,400 it was a total of ninety billion dollars in transactions. Ay, 532 00:27:26,880 --> 00:27:31,079 I wonder if big banks love that. If they love that, 533 00:27:31,319 --> 00:27:34,559 and then B or C we're learning that they're actually 534 00:27:34,599 --> 00:27:37,680 been spending things money on things like getting cash out 535 00:27:37,720 --> 00:27:43,839 of the cash machines at casitos. That seems that seems corrupt. 536 00:27:44,480 --> 00:27:46,519 If you saw that on an expense report at Bulwark 537 00:27:46,559 --> 00:27:49,279 Capital and you pulled that up, or your wife she's 538 00:27:49,279 --> 00:27:54,599 the CFO and she sees cash withdrawal Bulwark card Las Vegas, Nevada. 539 00:27:54,720 --> 00:27:55,640 That ends, How. 540 00:27:57,839 --> 00:27:58,079 Speaker 2: Wow? 541 00:27:58,119 --> 00:28:00,440 Speaker 3: It ends with some cardboard boxes and some taking a 542 00:28:00,440 --> 00:28:02,559 long walk down the halls with the way that is. Yeah, 543 00:28:03,240 --> 00:28:07,160 I mean when everybody's in the office, oh man, no, no, yeah, 544 00:28:07,200 --> 00:28:08,960 And I know, And I mean to ask would fall 545 00:28:08,960 --> 00:28:11,880 I wouldn't even ask questions, just see you later gone done, 546 00:28:12,960 --> 00:28:16,039 just because not only is it's a betrayal, right, and 547 00:28:16,359 --> 00:28:18,000 we take really good care of our people and pay 548 00:28:18,039 --> 00:28:20,079 them really well. And I'm like, yeah, if you're gonna 549 00:28:20,279 --> 00:28:22,200 and and and you and I were talking to offline 550 00:28:22,240 --> 00:28:27,039 about this. This is the whole hilarity and ridiculousness of 551 00:28:27,319 --> 00:28:31,559 just the insanity of this whole situation. Listening to people 552 00:28:32,359 --> 00:28:35,359 like you know, throwing fits and freaking out about this 553 00:28:35,440 --> 00:28:39,039 kind of stuff in corporate America. Okay, where where there's 554 00:28:39,079 --> 00:28:42,279 not a fiduciary responsibility to take care of tax older money, 555 00:28:42,599 --> 00:28:46,519 there there haven't been oaths to defend the constitution right 556 00:28:46,559 --> 00:28:52,759 always in corporate America. These you wouldn't find these charges 557 00:28:52,759 --> 00:28:55,359 on credit card statements. People be fired. You know, you 558 00:28:55,400 --> 00:28:58,119 were talking about Microsoft, and there's actually a guy know, 559 00:28:59,160 --> 00:29:02,000 uh who on the story you said, a guy I 560 00:29:02,039 --> 00:29:03,720 know for a company around here that went to a 561 00:29:03,759 --> 00:29:06,039 casino one night, well, cash out of the ATM at 562 00:29:06,039 --> 00:29:07,799 the casino, and got fired the. 563 00:29:07,720 --> 00:29:08,920 Speaker 1: Next day with this corporate card. 564 00:29:09,400 --> 00:29:12,039 Speaker 3: Yeah, with this corporate card. And that's this goes again 565 00:29:12,079 --> 00:29:14,359 to what I was talking about, which is not only 566 00:29:14,440 --> 00:29:16,960 is their waste that not only is there incredible amounts 567 00:29:16,960 --> 00:29:19,319 of waste in the government, but I mean they're way 568 00:29:19,519 --> 00:29:24,279 behind even just normal baseline corporate America standards. That's why 569 00:29:24,279 --> 00:29:29,119 it's so ridiculous watching these complaints and these moronic media 570 00:29:29,200 --> 00:29:31,960 members that are like You're sitting there listening to these 571 00:29:32,000 --> 00:29:36,160 moronic media members give these like concerning interviews, and I 572 00:29:36,200 --> 00:29:37,839 want to like jump through the TV and look at 573 00:29:37,880 --> 00:29:39,680 the person and go, hey, what would happen to your 574 00:29:39,720 --> 00:29:42,599 job if you did the same thing? Exactly. You'd be gone, 575 00:29:42,799 --> 00:29:45,160 what are we talking about? This is ridiculous. 576 00:29:45,240 --> 00:29:47,359 Speaker 1: It goes, it goes to culture. And I've I've had 577 00:29:47,400 --> 00:29:49,920 some complaints about Microsoft culture in the past. I talked 578 00:29:49,920 --> 00:29:53,519 about when my boss tried to, you know, put write 579 00:29:53,559 --> 00:29:55,359 me up for refusing to sit in a room while 580 00:29:55,599 --> 00:29:59,680 there were girls and women who came in to provide 581 00:29:59,720 --> 00:30:02,400 sec and they're you know, taking cocaine and stuff. And 582 00:30:02,799 --> 00:30:04,519 that was one thing. But there was another guy, and 583 00:30:04,559 --> 00:30:07,519 this was this was Microsoft looking out for us and shareholders. 584 00:30:07,880 --> 00:30:10,720 I was in New York at an industry event and 585 00:30:11,119 --> 00:30:13,559 things got crazy and I don't A. I don't drink. 586 00:30:13,599 --> 00:30:16,000 B I certainly don't drink at work events. And he 587 00:30:16,079 --> 00:30:19,240 got pretty lit. He's pretty senior, pretty high up, and 588 00:30:19,319 --> 00:30:21,119 so then he's doing things like asking some of the 589 00:30:21,160 --> 00:30:23,240 women if they might do a table dance for him, 590 00:30:24,599 --> 00:30:26,680 and a lot of us are going, I bet that's 591 00:30:26,720 --> 00:30:28,599 not going to work because the lady who organized this 592 00:30:28,680 --> 00:30:33,079 event is a lady. Then he decided to go and 593 00:30:33,319 --> 00:30:36,000 go ahead and pay for taking some of the fellers 594 00:30:36,799 --> 00:30:40,880 to a so called gentleman's club, a strip club, and 595 00:30:41,200 --> 00:30:43,160 he kind of maxed out his card that night. So 596 00:30:43,720 --> 00:30:45,200 what I heard later is he said, well, I'll put 597 00:30:45,200 --> 00:30:46,799 it in the Microsoft card. I'll pay it off. They 598 00:30:46,839 --> 00:30:50,160 won't even notice it. So the story goes like this, 599 00:30:50,640 --> 00:30:52,720 About two o'clock in the morning, he's in his hotel room. 600 00:30:52,720 --> 00:30:58,519 He gets a phone call and wakes up. Yeah, you're fined. Wow, 601 00:30:58,640 --> 00:31:01,400 And they had a fraud alert. This is the sorts 602 00:31:01,400 --> 00:31:03,920 of businesses. Our cards don't go in. So that's what 603 00:31:03,960 --> 00:31:06,960 you're saying. The government could have had this. Now that's fraud. 604 00:31:07,680 --> 00:31:09,480 But I want to get into something of a more 605 00:31:09,519 --> 00:31:14,920 serious conversation that a guy Geiger Capital Markets, Economics, politics 606 00:31:15,039 --> 00:31:19,960 rip Paul Volker personal views not investment advice, posted and 607 00:31:20,039 --> 00:31:23,519 he wrote this, holy blank, and Lada fed is now 608 00:31:23,559 --> 00:31:28,079 predicted projecting that Q one GDP will be minus one 609 00:31:28,119 --> 00:31:30,759 point five percent, a contraction. Last week it was plus 610 00:31:30,799 --> 00:31:33,160 two point three. Four weeks ago it was plus three 611 00:31:33,160 --> 00:31:38,720 point nine. And he tracks this and is blaming government 612 00:31:38,839 --> 00:31:41,960 spending and the cuts and spending on this. Elon Musk 613 00:31:42,039 --> 00:31:43,799 responded to this, and I'll share with you what Elon 614 00:31:43,880 --> 00:31:45,559 said in the second. Then we'll hear what Zach Abraham, 615 00:31:45,640 --> 00:31:48,599 chief investment officer for W Capital, says. They're going through 616 00:31:48,640 --> 00:31:51,039 all of this big business, big fraud. Remember that you 617 00:31:51,079 --> 00:31:53,000 have a choice in something you're going to use for 618 00:31:53,039 --> 00:31:55,359 the rest of your entire life, unless you decide to 619 00:31:55,400 --> 00:31:58,319 be disgusting hippie, and in that case, get out of 620 00:31:58,319 --> 00:32:02,039 here with your stick. Your body stink makes me sick. 621 00:32:03,599 --> 00:32:06,160 Alan Soaps is an alternative to the big soap companies 622 00:32:06,160 --> 00:32:09,119 who make their products probably with Chinese slave labor. But 623 00:32:09,279 --> 00:32:11,920 on the positive side, it's excellent soap. It's world class. 624 00:32:11,920 --> 00:32:13,839 It's made by a family of three generations of soap 625 00:32:13,839 --> 00:32:17,720 making expertise. And that's all good. But here's the great part. 626 00:32:18,160 --> 00:32:21,880 You're employing young people who were well in line for abortion. 627 00:32:22,720 --> 00:32:24,720 Because that's what the world would have done to Alan. 628 00:32:25,279 --> 00:32:28,440 It's whatether they would have done to Ian and late 629 00:32:28,519 --> 00:32:32,559 on set autism happened to Amy, and literally people said 630 00:32:32,759 --> 00:32:35,440 to Amy's parents, well, looks like she can't work. Here's 631 00:32:35,440 --> 00:32:39,000 a good institution. She is working, and she works fruitfully. 632 00:32:39,279 --> 00:32:41,839 All these things add up into try it. If the 633 00:32:41,880 --> 00:32:44,240 soap is not world class, they're not a charity. They 634 00:32:44,240 --> 00:32:46,920 don't want charity money. They want to work. They want 635 00:32:46,960 --> 00:32:49,440 their kids to work. They want Amy to work. If 636 00:32:49,480 --> 00:32:51,319 it's the greatest soap you've ever tried keep buying it 637 00:32:51,359 --> 00:32:54,079 Alan soaps, dot Com slash todd. So here's how Elon 638 00:32:54,160 --> 00:32:56,440 Musk responded to this. He wrote, and this sounds like you, 639 00:32:56,559 --> 00:32:59,920 Zach Abraham. A more accurate measure of GDP in a 640 00:33:00,000 --> 00:33:03,720 America would exclude government spending. Otherwise, you can scale GDP 641 00:33:03,920 --> 00:33:06,599 artificially high by spending money on things that don't make 642 00:33:06,599 --> 00:33:09,319 people's lives better. For example, you could shift everyone who's 643 00:33:09,319 --> 00:33:12,119 building cars to working at the DMV. That would result 644 00:33:12,160 --> 00:33:14,440 in no cars and a much worse standard of living, 645 00:33:14,599 --> 00:33:17,400 but GDP would appear to be the same. That's a 646 00:33:17,519 --> 00:33:19,640 really good way to say that. That reminds me of 647 00:33:19,680 --> 00:33:22,680 something you've said. So government spending is a friend to. 648 00:33:22,720 --> 00:33:26,359 Speaker 3: Charts, Yeah, one hundred percent because it adds to GDP. 649 00:33:26,640 --> 00:33:28,119 But like must points. 650 00:33:27,839 --> 00:33:34,200 Speaker 4: Out, it's there's no value, like, there's no value add right, 651 00:33:34,240 --> 00:33:37,880 because you're extracting that money from productive activities yep. 652 00:33:38,200 --> 00:33:41,839 Speaker 3: And then you're recirculing that money into the definition of 653 00:33:41,880 --> 00:33:45,240 non productive activities. Right, So you can even make your 654 00:33:45,240 --> 00:33:48,359 GDP go up, right, I mean, I mean you could 655 00:33:48,440 --> 00:33:50,880 make it look like it's going up drastically just off 656 00:33:50,920 --> 00:33:55,240 government spending. So what did he say about, First of all, 657 00:33:56,480 --> 00:33:59,240 the GDP now cast that the Atlanta Fed does is 658 00:33:59,240 --> 00:34:01,920 probably one of the most accurate out there. The second 659 00:34:01,960 --> 00:34:05,359 of all, it's he's not even under seat, like I'm 660 00:34:05,400 --> 00:34:07,680 shocked at that guy's a job in economics, because that's 661 00:34:08,000 --> 00:34:10,960 that is not what the GDP now cast is forecasting. 662 00:34:11,400 --> 00:34:15,880 It is taking a snapshot right now at this moment. 663 00:34:16,360 --> 00:34:20,800 If these trends continue on this trajectory, it will add 664 00:34:20,880 --> 00:34:23,800 up to a negative. So now that number has actually 665 00:34:23,800 --> 00:34:25,880 gone it to negative two and a half. Okay, but 666 00:34:25,960 --> 00:34:27,400 like he points out, a week and a half ago 667 00:34:27,559 --> 00:34:30,039 was two and a half. So it's been very accurate, 668 00:34:30,079 --> 00:34:32,519 but it is also very noisy. Over the short run, 669 00:34:32,679 --> 00:34:37,880 a B Outside of COVID, this economy has now gone 670 00:34:38,039 --> 00:34:41,119 the longest period of time in our history, and it's 671 00:34:41,199 --> 00:34:44,000 not close. I want to say, it's about previous records, 672 00:34:44,000 --> 00:34:46,840 like nine years you're looking at coming up on sixteen 673 00:34:46,960 --> 00:34:49,920 years of not being in a recession. Okay, when you 674 00:34:49,960 --> 00:34:55,400 see the orgy of government spending that has occurred post COVID, Okay, 675 00:34:55,440 --> 00:35:00,159 the minute you started normalizing spending, right, it's like it's 676 00:35:00,280 --> 00:35:02,960 it'd be like a like a think of a seven 677 00:35:03,039 --> 00:35:06,239 forty seven getting up to altitude, it hits thirty three thousand, 678 00:35:06,559 --> 00:35:08,679 kind of settles back down at thirty two thousand, it 679 00:35:08,679 --> 00:35:12,519 begins cruising. Right. Well, that's what I to us. That 680 00:35:13,000 --> 00:35:14,760 kind of looks what the economy is doing right now. 681 00:35:15,079 --> 00:35:17,079 And they're sitting there going, oh, they're going to cause 682 00:35:17,079 --> 00:35:20,679 a recession. We're like, look, the plane wasn't going to 683 00:35:20,760 --> 00:35:23,679 eighty thousand feet man, right, It's got to level off 684 00:35:23,719 --> 00:35:27,199 at some point, hope. Yeah, And if you're pulling back 685 00:35:27,239 --> 00:35:29,440 on any reins of government spending, it might show up 686 00:35:29,480 --> 00:35:33,079 as a quasi recession. Yeah, okay, but you've got household 687 00:35:33,119 --> 00:35:35,599 net worth a record haze. The other side of it, too, 688 00:35:35,679 --> 00:35:38,360 is when you're talking about the level of spending that 689 00:35:38,400 --> 00:35:42,800 he's pulling back the reins on if it's accompanied with 690 00:35:42,920 --> 00:35:46,719 regulation cuts. But my point is this, what is going 691 00:35:46,760 --> 00:35:51,119 on underneath the surface in the underlying economy will either 692 00:35:51,239 --> 00:35:56,039 make that will determine it, right, like the meaning if 693 00:35:56,119 --> 00:36:00,960 we're going into recession, which to his point, pretty much 694 00:36:01,039 --> 00:36:03,960 every single economic indicator we've been watching over the last 695 00:36:03,960 --> 00:36:07,000 three to four weeks is moving down and moving down 696 00:36:07,039 --> 00:36:10,360 at a fairly quick pace. Okay, so, but but like 697 00:36:10,360 --> 00:36:15,760 I said, I wouldn't say nearing recession at this point. 698 00:36:15,920 --> 00:36:20,679 What I would say is that I would say more 699 00:36:20,800 --> 00:36:24,119 indicators are pointed south at this point than at any 700 00:36:24,159 --> 00:36:28,239 time over the last three years. Okay, So, for for instance, 701 00:36:28,519 --> 00:36:31,320 let's go to like pending homes, pending home sales. You've 702 00:36:31,320 --> 00:36:35,119 got less homes for sale and less home transactions happening 703 00:36:35,199 --> 00:36:40,639 right now than at any time in history, including including 704 00:36:40,679 --> 00:36:45,719 the financial crisis. Okay. Now you look at then you 705 00:36:45,760 --> 00:36:48,400 flip over and look at where construction jobs are right now. 706 00:36:49,239 --> 00:36:53,079 Construction jobs tend to be the number one leading indicator 707 00:36:53,599 --> 00:36:57,679 of a recession. Okay, You've got record employment in construction jobs, 708 00:36:57,719 --> 00:37:01,559 and you've got the housing market it standstill. My guess 709 00:37:01,679 --> 00:37:04,119 is those construction numbers are gonna fall. Okay. You just 710 00:37:04,159 --> 00:37:07,360 got a manufacturing survey from the Dallas Fed not good 711 00:37:07,440 --> 00:37:10,360 at all. Okay, Now they're going to try to put 712 00:37:10,400 --> 00:37:13,639 all this on Trump's plate at some point. Remember when 713 00:37:13,679 --> 00:37:16,039 we talked about when interest rates were gonna go up 714 00:37:16,519 --> 00:37:18,880 and we were expecting recession by the end of twenty 715 00:37:18,920 --> 00:37:22,960 twenty three beginning of twenty twenty four. Okay, those same 716 00:37:23,079 --> 00:37:27,880 rules apply, meaning you cannot get the Kia GDP pop 717 00:37:28,000 --> 00:37:31,880 we've had with the absolute delusion government spending, and when 718 00:37:32,000 --> 00:37:36,400 that normalizes, it's really hard to imagine you not dropping 719 00:37:36,440 --> 00:37:39,480 down one or two thousand feet, right, yep, leveling off 720 00:37:39,800 --> 00:37:43,199 that drop will look like a recession. Okay, but are 721 00:37:43,199 --> 00:37:45,920 you going to see seven percent unemployment? I don't see that. 722 00:37:47,239 --> 00:37:50,079 You know, you're still got record like I said, record 723 00:37:50,079 --> 00:37:53,360 household wealth. I don't see that really going away. But 724 00:37:53,480 --> 00:37:55,400 this is something else that we've been saying is look, 725 00:37:55,519 --> 00:37:58,119 regardless of what you think about Trump and the economy, 726 00:37:58,599 --> 00:38:00,800 one of the biggest drivers of this market and this 727 00:38:00,840 --> 00:38:03,480 financial system here in the United States has been the 728 00:38:03,480 --> 00:38:08,039 fact that we've been the only real major economy because 729 00:38:08,079 --> 00:38:11,280 we are the world's reserve currency that has been printing 730 00:38:11,320 --> 00:38:14,280 to the extent that we have over the last fifteen years. Now, 731 00:38:14,280 --> 00:38:16,559 there's been some innovation too, but one of the biggest 732 00:38:16,639 --> 00:38:18,760 drivers that's been so much different than our market in 733 00:38:18,800 --> 00:38:21,239 the rest of the world is that massive amount of 734 00:38:21,320 --> 00:38:24,119 liquidity that was continually being injected by the FED with 735 00:38:24,199 --> 00:38:27,719 the world reserve currency. Okay, now you've got countries like 736 00:38:27,840 --> 00:38:31,840 China and Germany announcing a very aggressive fiscal policy. When 737 00:38:31,840 --> 00:38:34,440 you look at these the stock markets around the world. 738 00:38:34,760 --> 00:38:38,000 They're just now breaking through levels that they peaked at 739 00:38:38,000 --> 00:38:42,599 in seven and eight. Okay, you're looking at US markets 740 00:38:42,679 --> 00:38:45,760 trading at a record valuation compared to the rest of 741 00:38:45,800 --> 00:38:49,480 the world right now. This is why we're guys. I 742 00:38:49,519 --> 00:38:52,760 love what Trump is doing. Okay, But one of the 743 00:38:52,840 --> 00:38:55,000 easiest trades I've seen in a long time, and one 744 00:38:55,000 --> 00:38:57,440 of the biggestbay or opportunities Todd that I've seen in 745 00:38:57,480 --> 00:38:59,960 my career, is the opportunity that you have right now 746 00:39:00,079 --> 00:39:03,079 now with international assets as opposed to US. 747 00:39:03,239 --> 00:39:05,760 Speaker 1: Okay, I want you to explain this because this is 748 00:39:05,800 --> 00:39:07,519 going to freak people out. I can already feel it. 749 00:39:07,760 --> 00:39:11,519 I'm sorry to be rude, but no, okay, I'm Zachs 750 00:39:11,559 --> 00:39:13,360 can explain this in a second. I'm going to remind 751 00:39:13,400 --> 00:39:16,159 you that next week is Saint Patrick's Day. It's the seventeenth. 752 00:39:16,239 --> 00:39:19,239 If you weren't paying attention on your screen for watching 753 00:39:19,320 --> 00:39:21,840 the video version of this, you're going to see the 754 00:39:21,880 --> 00:39:24,639 beautiful bag that's been created by Tim Krukshank, the founder 755 00:39:24,639 --> 00:39:27,239 and CEO Bonefrog Coffee, that is in fact the Celtic 756 00:39:27,280 --> 00:39:30,480 Cross and it does obviously honor the Lord Jesus first 757 00:39:30,519 --> 00:39:32,519 and foremost, after all, it's across in which he died 758 00:39:32,639 --> 00:39:36,159 as appropreciation of payment for our debt are sins, and 759 00:39:36,239 --> 00:39:38,480 Tim of course is a man of God. Every bag 760 00:39:38,519 --> 00:39:41,559 says God Country Team on it. It also honors the 761 00:39:41,559 --> 00:39:44,679 fighting heritage of the Irish people in that culture. Tim 762 00:39:44,719 --> 00:39:47,519 loves his Celtic culture, so he had this roast created 763 00:39:47,559 --> 00:39:51,039 specifically for Saint Patrick's Day. He had the bag designed 764 00:39:51,039 --> 00:39:54,000 specifically for Saint Patrick's Day. You can read about this 765 00:39:54,119 --> 00:39:56,960 bag and the story and more about Tim's Celtic heritage. 766 00:39:57,159 --> 00:40:00,360 You go to Bonefrogcoffee dot com slash Todd by this 767 00:40:00,480 --> 00:40:03,199 special roast, get the special bag, use it for Saint 768 00:40:03,239 --> 00:40:05,320 Patrick's Day. If you know people are really into their 769 00:40:05,400 --> 00:40:08,400 Celtic Irish heritage, buy it for them. You'll save ten 770 00:40:08,400 --> 00:40:11,360 percent on the first purchase, fifteen percent off subscription coffee, 771 00:40:11,400 --> 00:40:15,159 Bonefrog Coffee dot com, slash Todd. So Zach, this is 772 00:40:15,199 --> 00:40:17,280 the part that's going to freak people out. So Zach 773 00:40:17,360 --> 00:40:20,320 the patriot, Zach loves. What Trump is doing is saying 774 00:40:20,880 --> 00:40:23,880 international assets. Guys, So you got to explain that to 775 00:40:23,960 --> 00:40:26,000 people before everybody runs out of the room shrinking. 776 00:40:26,920 --> 00:40:31,039 Speaker 3: Okay, right, So guys, first, of all financial markets are 777 00:40:31,079 --> 00:40:33,800 like think of Teeter Totter's okay, and they work the 778 00:40:33,800 --> 00:40:36,360 best when most of the money is concentrated in the 779 00:40:36,400 --> 00:40:39,519 middle and the teacher Tartter is balanced. Okay. What you're 780 00:40:39,559 --> 00:40:42,239 seeing right now is one side of the Teeter Totter 781 00:40:42,360 --> 00:40:44,719 is lower and one side is higher than it has 782 00:40:44,800 --> 00:40:49,360 ever been in recorded financial history. The United States economy 783 00:40:49,400 --> 00:40:53,719 makes up fifteen percent of global economic activity or GDPAY, 784 00:40:54,000 --> 00:40:58,360 yet our stock market accounts for seventy percent of global 785 00:40:58,400 --> 00:41:03,360 stock market capitalization. That is a record. Okay. So you've 786 00:41:03,360 --> 00:41:05,480 got a scenario here in the United States where people 787 00:41:05,519 --> 00:41:10,800 are paying ridiculous prices for you, for US assets, and 788 00:41:10,840 --> 00:41:13,960 you look in now, not all of them, but internationally, 789 00:41:14,239 --> 00:41:19,159 we are finding some of the most ridiculously priced, great assets, 790 00:41:19,239 --> 00:41:21,679 great companies, And you know, it's one of the it's 791 00:41:21,679 --> 00:41:23,440 early in the year, but it's one of the reasons 792 00:41:23,519 --> 00:41:25,320 we're up five percent on the year in the stock 793 00:41:25,320 --> 00:41:28,079 market's negative right now. It's early in the year, a 794 00:41:28,119 --> 00:41:32,559 lot to go. But right now, when we're looking at 795 00:41:32,559 --> 00:41:35,960 these international names and so much remember these think just 796 00:41:35,960 --> 00:41:39,280 think about this. These stock markets are at levels they 797 00:41:39,280 --> 00:41:43,440 were at in two thousand and seven. Okay. Meanwhile, our 798 00:41:43,480 --> 00:41:46,760 stock market is four and a half x that level. Okay, 799 00:41:46,880 --> 00:41:52,280 those countries are now announcing aggressive fiscal stimulus, like Germany, 800 00:41:52,440 --> 00:41:56,039 like China. Guys, one of the biggest drivers of US 801 00:41:56,079 --> 00:41:59,079 markets over the last ten years has been the inflow 802 00:41:59,119 --> 00:42:01,719 of outside capital from the rest of the world. Okay, 803 00:42:01,760 --> 00:42:07,039 when you start talking about China and European governments like 804 00:42:07,159 --> 00:42:12,480 Germany announcing not only stimulus but fiscal Okay, what made 805 00:42:12,559 --> 00:42:16,800 our economy go ballistic during COVID It was fiscal stimulus, 806 00:42:16,840 --> 00:42:20,519 not monetary fiscal meaning money was actually getting put into 807 00:42:20,519 --> 00:42:23,719 people's hands. That is happening in Germany, that is happening 808 00:42:23,800 --> 00:42:26,519 in China. Their stock markets are trading it like one 809 00:42:26,679 --> 00:42:30,840 fourth or one fifth evaluation of ours. And so you're 810 00:42:30,880 --> 00:42:33,920 looking at this scenario where the teeter totter's got to 811 00:42:34,000 --> 00:42:38,199 tip back. And we're not saying that US markets are 812 00:42:38,199 --> 00:42:42,119 about ready to collapse. But in investing, Buffett talks about 813 00:42:42,119 --> 00:42:46,280 this all the time. Usually investing is hard, sometimes it's easy. 814 00:42:46,320 --> 00:42:50,039 Sometimes there are layoups. Right, this is one of those 815 00:42:50,079 --> 00:42:54,400 times where these are layups. You're buying companies at valuations 816 00:42:54,440 --> 00:42:57,400 and prices where you're sitting there going, look, I don't 817 00:42:57,440 --> 00:42:59,519 know if this is gonna win or not. But I 818 00:42:59,639 --> 00:43:02,639 can't figure out if this company is around five years 819 00:43:02,639 --> 00:43:04,920 from now, I can't figure out how I'm not sitting 820 00:43:04,920 --> 00:43:09,599 on a double okay, and we've got our portfolio. I 821 00:43:09,639 --> 00:43:11,920 mean it is a It's a shooting fish in a barrel, 822 00:43:12,199 --> 00:43:15,159 it really is. The problem is is that in investing, 823 00:43:15,199 --> 00:43:17,599 all too often people want to do what's hard. The 824 00:43:17,639 --> 00:43:19,280 equivalent of that I use the other day, and I'll 825 00:43:19,320 --> 00:43:21,360 finish this up real quick with the analogy I use 826 00:43:21,400 --> 00:43:23,360 the other day. It's like a guy, a Carnival Barker, 827 00:43:23,679 --> 00:43:25,760 standing out there and he's saying, all right, I'm gonna 828 00:43:25,760 --> 00:43:28,760 pay a million bucks whoever's willing to step in the ring, 829 00:43:29,079 --> 00:43:31,159 but you got to fight one of two guys either way, 830 00:43:31,280 --> 00:43:33,079 if you win or lose, whatever it is. If you 831 00:43:33,119 --> 00:43:35,039 get in the ring and you're willing to fight this guy, 832 00:43:35,519 --> 00:43:37,719 you're gonna get a million bucks. You're like, Okay, well, 833 00:43:37,760 --> 00:43:40,079 who are the two guys I have picked from. They're like, well, 834 00:43:40,199 --> 00:43:43,159 on one side, Mike Tyson and now on the other side, 835 00:43:43,159 --> 00:43:46,000 Steve Rkle, Right, who do you want to fight? And 836 00:43:46,039 --> 00:43:50,199 I'm like, give me the stever right now. US investors 837 00:43:50,199 --> 00:43:52,599 are saying no, no, no, no, give me Tyson, And I'm 838 00:43:52,599 --> 00:43:56,320 looking at him, going, uh okay, I'll take Steve all 839 00:43:56,400 --> 00:43:58,280 day long. You can have Iron Mike all you want, 840 00:43:58,400 --> 00:44:00,480 right I no, no, I I'm going to make a 841 00:44:00,480 --> 00:44:03,119 million dollars too. I just know for a fact I'm 842 00:44:03,119 --> 00:44:05,880 not coming out of here with CTE right right or 843 00:44:05,920 --> 00:44:10,320 alive here right and right now. In US investors, in 844 00:44:10,400 --> 00:44:13,800 my opinion, are making this way too hard when you're 845 00:44:13,800 --> 00:44:17,239 buying single pe stocks that are growing at solid double digits, 846 00:44:17,239 --> 00:44:19,280 that are trading at a discount to book value and 847 00:44:19,320 --> 00:44:21,280 paying you seven or eight percent dividends to sit there 848 00:44:21,280 --> 00:44:25,159 and wait. Back up the truck, baby. 849 00:44:24,360 --> 00:44:26,800 Speaker 1: I got it. That's a solid explanation. Appreciate that. And 850 00:44:26,920 --> 00:44:29,000 Zach and I are going to be together. We have 851 00:44:29,079 --> 00:44:30,599 to figure out a date and you and I actually 852 00:44:30,639 --> 00:44:32,800 have to put together a phone call to figure out 853 00:44:32,840 --> 00:44:35,719 a date in June. And I'm just giving people heads up. 854 00:44:35,800 --> 00:44:37,639 Zach and I going to do shows in part of ourself. 855 00:44:37,639 --> 00:44:39,840 We're going to hang out. We want you to come. 856 00:44:40,119 --> 00:44:42,280 We're going to do this reefly new dot Healthcare. At 857 00:44:42,320 --> 00:44:45,400 this point, please get in line. If you're thinking about 858 00:44:45,400 --> 00:44:49,840 treatment for the stem cell, treatment for carpal tunnel, for arthritis, 859 00:44:49,880 --> 00:44:53,599 traumatic brain injury, to avoid surgery, to recover from surgery. 860 00:44:54,119 --> 00:44:56,440 Please get in line now, because last time, there are 861 00:44:56,440 --> 00:44:59,000 a bunch of people who wanted to be there while 862 00:44:59,000 --> 00:45:00,719 we were down there, and they couldn't make it. They 863 00:45:00,760 --> 00:45:03,280 went and got treatment. Praise God. I'm glad they did that, 864 00:45:03,920 --> 00:45:06,239 and I'm glad it worked for a business partner. But 865 00:45:06,440 --> 00:45:08,639 you have to make sure you get your treatment approved 866 00:45:08,800 --> 00:45:10,280 so you can be down there together. I look forward 867 00:45:10,320 --> 00:45:13,320 to that. Zach, thanks for Wise counsel day, and say 868 00:45:13,360 --> 00:45:14,400 hi to your beloved family. 869 00:45:15,079 --> 00:45:16,199 Speaker 3: I will thanks for having me. 870 00:45:16,320 --> 00:45:18,639 Speaker 1: And this is a Todd Herman show. Remember we do 871 00:45:18,719 --> 00:45:21,679 seek wise counsel. God tells us to do that. Now, 872 00:45:21,679 --> 00:45:24,920 please go be well, be strong, be kind, and don't 873 00:45:24,920 --> 00:45:27,480 make an effort. I mean, just walk in the light 874 00:45:27,559 --> 00:45:33,480 of Christ. Like Zach said, choose the easy way.