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Ladies and gentlemen, welcome to the second quarter wrap up news trends and stories with Dr. Joseph P. Farrell. Joseph, I'm so glad to be talking through these stories. As I was going through this, I've been working on sort of what's happening in the stock market.

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Globally all week long and I thought, thank God I can do this with Joseph because he understands how the money works.

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Well, I try.

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Well, it's hard to have a conversation with anybody about the equity markets if they don't understand the energy model, they don't understand the breakaway civilization, they don't understand the hidden system of finance.

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Right.

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It was really funny, I was telling somebody the other day on an interview how I had split away from the, the people who do financial markets and the alternative media to just work with you because you were the only one who understood money.

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Well, yeah, the problem is, and I think we backed into this more or less at the same time independently of each other,

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The economic and financial models that are de rigueur in academia just don't work.

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Yeah.

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They're just not adequate to it, and that means there's an aspect of finance that's completely hidden and unseen that no one's talking about.

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Well, but here's the thing, if you want to train, I have an MBA from Wharton,

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If you want to train kids at Wharton to go work for the big government-created corporate monopolies and do a good job,

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They need a framework that will, that they can operate in, and it gives them that framework.

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Right.

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It has no bearing on reality, but it will keep them turtling along inside a corporate monopoly and doing what they do, right?

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Right, exactly.

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Right, so anyway, but I'm very grateful to be here.

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So I just want to point out to everybody listening, we do have, if you go to the commentary on the website, you can click over to the website.

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We have a dedicated website for the second quarter wrap-up.

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Our theme, Joseph, on the, sort of the big topic for the second quarter is student loans, the fraudulent adducement of family wealth.

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And it, we haven't published it yet.

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We'll publish news trends and stories first.

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When it goes up, what you'll see, I haven't looked, I haven't done a deep dive on student loans for about a decade.

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The last time I looked hard at them was coming out of the financial crisis.

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It is so much more horrible than it used to be.

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Yep, it is.

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It is.

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Guess what percentage of student loans are not being paid right now?

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Oh, I could imagine anywhere between 70 and 90%.

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76%.

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Holy cow, yeah.

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And the majority of people who are really hung in this are 50 and older.

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Yeah.

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And what they've managed to do as they've evolved it is find ways of getting the parents and the grandparents, on the, so you're absolutely targeting and destroying family wealth.

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But if you look at all the tricks they play, this is so predatory.

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Yes.

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And so fraudulent, you just can't, you just can't believe it.

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Anyway, it's, it's quite a story and I'm going to get into it when we talk about News Trends & Stories today because if you look at, our story number six, is going to be about the great poisoning.

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So imagine you lever all your young people up with debt and then you poison them.

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Yeah.

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And it's a pincer move.

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Yes.

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On family wealth.

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Health and education, yep.

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If you look at what they're planning with stablecoins and programmable money, they're, they're looking to extend that fraudulent adducement to the whole planet.

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Yep.

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Yep.

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Yeah.

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It's quite, it's quite clever.

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And then if you look at a lot of the spin we'll talk about today, the bad guys are always the guys who are against usury because you got to finish wiping them out before you.

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Yep.

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Yep.

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Anyway, okay, so, before we start any, anything you want to point out before we dive in?

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No, I think we're good to go.

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I made some notes on your outline here, so.

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Okay, well, I want to thank the Soluria team because they've worked very hard.

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We're always trying to aggregate all the headlines and then we go through this process of figuring out what's going on.

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And it's always very illuminating for me, but then I talk with you and it's even more illuminating.

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So that's what's going to happen today.

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Okay, so story number one, the going direct reset accelerates.

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And what was interesting at some point, I said to everybody on the team working on this,

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Okay, what's the most important story?

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And they all agreed, this is it.

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So we'll start off with the big one.

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Okay, so at the top of every section on the website, we have the stories we picked from Giza Death Star.

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Usually they're the recent story about things that you've written, but for this story,

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We picked Financial Vipers of Venice, your book on Venice, and, because you've described the model, right?

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And we know that every 80 to 120 years, the central bankers do a reset, and we're in one of those resets.

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I want to start with programmable money.

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We did a, we had a big meeting with a group of legislators, and coming out of that meeting,

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We got a great suggestion.

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They said, you ought to make, you ought to do a scenario planning on the possibilities

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Of programmable money, and what it will do to our world.

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And so we came up with four scenarios.

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Justin, if you could just bring up the four scenarios, they're in the slides or they're on

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The website.

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Yeah.

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So there it is.

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So the variables we chose were, we could be decentralized or centralized.

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This is the top.

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So that's the vertical axis.

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And then on the horizontal axis, you could have a relative amount of financial transaction

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Freedom.

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So you have analog choices, you keep using cash, you have multiple digital choices.

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But on the right, you have financial transaction control.

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So everything is digital and everything is essentially giving the central system the ability to control.

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And that creates four worlds, okay?

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And the high-tech feudalism is the world and the right, and that's the world where everything

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Is highly centralized, and financial transaction control is present.

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And literally, that's when we go from the current system to a whole new system where the bankers

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Not only control monetary policy, they control fiscal policy.

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And of course, that's the world we're trying to avoid.

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And when we did the scenario design, our goal was to, we want to make sure that

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Everybody understands the importance of putting guardrails up so that, the new financial

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Tools can't be used to wipe out our constitutional rights.

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And even if people didn't think that the high-tech feudalism was the goal of the central bankers,

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We wanted them to agree that, you know, that we should put up guardrails.

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And what was interesting, only 67% said high-tech feudalism was the goal of the bankers.

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But 100% said they wanted guardrails put up so that, if that happened,

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It couldn't wipe out their constitutional results.

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And here's what's interesting.

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I keep reminding everyone of why I believe that the goal of the system is high-tech feudalism.

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And I want to show a video you've seen many times before, but I want to make sure everybody in the Solari Report has seen this,

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Because I absolutely believe that when the central bankers do you the service of telling you the truth about where they intend to go,

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You ought to believe them.

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On our analysis on CBDC, in particular for the use of general, to the general use,

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We tend to establish the equivalence with cash.

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And there is a huge difference there.

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For example, in cash, we don't know, for example, who is using a $100 bill today.

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We don't know who is using a $1,000 bill today.

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A key difference with the CBDC is that central bank will have absolute control on the rules and regulations

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That will determine the use of that expression of central bank liability.

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And also, we will have the technology to enforce that.

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Those two issues are extremely important, and that makes a huge difference with respect to what cash is.

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Okay, now, what I want to know is, how can anybody listen to that and think that complete control is not the goal?

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And then, he adds to that something I didn't hear before when you've played that selection.

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He said something to the effect that we need to be able to control our liability or something.

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So, it's not your money. It's their expression of central bank liability. It's their money.

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It's their money. Exactly.

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You put in the backing system, it's their money. And they can make the rules on how you can use their money.

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And they can enforce it centrally.

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Right. And they get to change their liability exposure if something goes wrong. Come on. That's not a currency system, Catherine.

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No, it's a control system.

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It's a control system and it's a model for grotesque financial instability.

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Well, but here's the thing. If you need to stop inflation by creating deflation, you can deflate all day long because you can, whether you shut down or steal, you can deflate.

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So let's, I just want to show you one of the slides. We did a briefing last Thursday and I want to show you some of the slides from the briefing to express the point about this.

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So if we could bring up the third lock slide, Justin. Okay, so if you look at top left, if you and I do a cash transaction, you have a lock and I have a lock. In other words, that transaction won't happen unless you want it to happen and I want it to happen. We both have a veto.

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That's a two lock transaction. If we put money in a bank and we transact, we're now in a system that has what I call a manual third lock. The bank is subject to know your customer rules, money laundering rules, sanction rules. And if we try and do a transaction, which is, on the sanctions list and is considered not, not legal, the bank may intercede.

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So if you look at the Canadian truckers, the, each bank had to intercede and it took a lot of paperwork and it was cumbersome and it was hard to do a lot of banks, at the same time. And some of the banks said, no, this is not legal. We won't do it. But essentially they had to manually intercede. It was what I call a manual third lock. If you look top right, the goal of programmable money is to create an automated third lock.

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So that, if you want to shut down 5 million people, you can do it, bam, all at once. You can implement it with AI and the bank or the credit union is not involved. They have, and you can do it both either through the software code in the money itself or in the wallet. So you can freeze their wallet or you can, have the money. And if you look at the bottom, if you look at all the

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Governmental and central bank excuses on why they should be able to do this and do this with thousands and thousands of rules that can be applied individually at the individual level, they all relate to virtue, protecting the environment, fairness and equity, anti-terrorism, consumer protection, public health. They got 5,000 reasons why their central control is virtuous. And if you look behind

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Behind it's all complete yaya. Because if you look at how the people running this model are running their entire, they're stripping the soil, they're engaged in massive crime, they're dropping bombs all over the, in other words, this is not a virtuous group, right?

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And if they, here's the thing, you've just outlined the thing that's going to hoist them on their own petard. Because if they implement an algorithmically controlled third lock,

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On transactions, they themselves are going to be caught in it.

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Yeah.

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The AI will shut them down.

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Right, and here's the thing. First of all, the AI is going to make tons of mistakes, right?

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Totally.

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You're going to have a mess. And if the bank is not involved,

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Yes.

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The bank, you have no one to call.

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Yeah, exactly.

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Where are you going to call?

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Yeah. Yeah, there's no accountability. There's, you know, it's like calling customer service.

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Right.

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It, there's not, there's not going to be any place you can call.

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Right, exactly.

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Right. So, anyway, so I'm going to use those words during this, we're, we're just in the process of publishing our Stablecoin, wrap up in hardcover.

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Oh boy.

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One of the things, it's really, wait, this cover is beautiful, but, and, one of the things I'm thinking of as a subtitle is all grift, no guardrails.

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Well, yeah, that's, that's exactly the problem.

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You have on your outline here something that I think is, needs to be stressed with the guardrails for programmable money is the idea of the right to a non-digital life.

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So let me just show you, let's pull up the Switzerland slide, Justin.

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So this idea came out of Switzerland and they are moving Canton by Canton.

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There's a group called the Pirate Party who's trying to get this enacted into their constitution.

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And you have to do it Canton by Canton.

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By Canton, yeah.

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It's been rejected by three and accepted by two.

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And then, you know, it's pending in, well, it's been accepted for vote in one and then pending in three.

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So they're going Canton by Canton.

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And we are now writing model legislation for this for states in the United States, Joseph.

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Because one of the things I've found talking with really, excellent government leaders is it is really feasible to get agreement on the fact that a citizen should have that right.

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Right.

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It's a basic human right.

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And then once you institute that, it's then easier to come back with legislation for cash bills or putting guardrails on programmable money.

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So the right to have a non-digital life is foundational.

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Yeah.

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And that's why I think Switzerland is leading the way.

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There are other countries across Europe who've talked about this or done it, a little bit in informal ways or at a very local level.

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But I, for one, would love to see this take off because I think it's a super.

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It needs not only to take off, but they need to give it some teeth to, for enforcement.

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Yep.

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I agree.

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I agree.

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So, we saw Susan Luchas in, got a bill, passed in South Dakota to protect cash, including at school games, but, at governmental entities and they didn't respect it.

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And she had to go arrange to get it enforced.

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So enforcement is important.

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Okay.

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So let's talk about what the, where we are in the programmable money.

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The Genius Act has passed and we've been writing pieces in response to the rulemaking.

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One of the things we've said in our rulemaking, Joseph, is that any decision to freeze, block, burn, or, wipe out, whether it's wiping out your wallet or your money, should be, the final decision has to be made by a human.

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It can't be automated through machines.

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Yeah.

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And, we'll see what the response at Treasury is to that.

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But to me, that's very important.

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Okay, let's just look at the stablecoin slide.

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Here we go.

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In the last, just literally the last three months, since we did this the last time.

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Okay, right now there's about 2.6 trillion of stablecoins outstanding.

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I'm sorry, of crypto outstanding and about 300 billion of stablecoins outstanding.

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The Genius Act starts implementation at the beginning of next year.

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And the Secretary of Treasury has said that 3.7 trillion is their expected issuance by 2030.

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Now, I think they're going to try and go for a much higher amount.

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But essentially, that's all money that will then flow into the treasury market, essentially.

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And high, some bank deposits, but mostly treasury bills.

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Okay.

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And that is going to take, maybe that takes the total amount of crypto up, anywhere from,

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I don't know, it depends on what's happening elsewhere in the market, but $4 trillion to $10 trillion.

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Okay.

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Currently, household net worth, including not-for-profits is $183 trillion.

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And if you look at how many people hold crypto or stable coins, it's tiny.

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It's, it's 10 to 20%.

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A lot of the ones who hold it through ETFs in their brokerage account.

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But if you look at the numbers, stable coins are a half of 1% of U.S. Holdings.

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Okay.

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Now, we've been trying to put guardrails, so we've been working with states to put legislation up as guardrails against stable coins being programmable in a way that could compromise your rights.

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But the universe that we were working with was to do this for $4 trillion.

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Right?

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Because that's, $2.6 trillion is what you've got on distributed ledgers now.

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If you add another $3 trillion, then say it's $6 trillion, we're trying to get guardrails against programmable money being able to corner you a strip your rights on $4 to $6 trillion, or $3 to $6 trillion.

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Okay.

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So that was when we talked last.

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Our model legislation wanted to put guardrails up on, on $3 to $6 trillion.

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Okay, here's what's happened since then.

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So let's just look at the chart on the DTC announcement.

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Two weeks coming into our meeting with legislators, DTC, which is Depository Trust Company,

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Which does the ownership and archiving for $114 trillion of stocks and bonds,

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Announced that they were doing a pilot to move, to create digital tokens on a distributed ledger,

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Which would allow you globally to trade stocks, and I'm presuming they'll get to bonds,

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As programmable assets on a distributed ledger.

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Okay?

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Holy cow!

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Okay, that pilot includes 50 of the top brokerage firms in the United States,

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As well as the Israeli exchange.

00:20:29.580 --> 00:20:30.400
There we are.

00:20:30.880 --> 00:20:31.760
Okay.

00:20:31.880 --> 00:20:35.400
And we'll get to the Israelis getting into the military, too, later.

00:20:36.000 --> 00:20:42.640
So, now, my understanding, and you can, I've heard this from people working at the firms,

00:20:42.720 --> 00:20:44.680
But also articles about the firms.

00:20:45.120 --> 00:20:48.180
What people are saying is, what is this?

00:20:48.240 --> 00:20:49.120
We don't want this.

00:20:49.220 --> 00:20:51.160
This doesn't give us anything we want.

00:20:51.220 --> 00:20:52.400
The customers don't want it.

00:20:52.460 --> 00:20:53.320
We won't want it.

00:20:53.720 --> 00:20:57.260
They don't understand why they're doing it unless they're Slurry Report subscribers,

00:20:57.260 --> 00:20:58.700
And then they understand exactly.

00:20:59.400 --> 00:21:07.620
But the people building the systems top-down are being very cagey about why they want this, okay?

00:21:08.120 --> 00:21:14.620
Now, what they're also saying is they're going to do 24-7 trading with these digital tokens.

00:21:15.720 --> 00:21:22.060
And, in fact, some of them may be digital tokens which are not collateralized with real stock.

00:21:22.060 --> 00:21:26.680
They're just the equivalent of a prediction market on where the price is going.

00:21:26.780 --> 00:21:27.480
So it's gambling.

00:21:27.820 --> 00:21:28.580
Oh, my God.

00:21:29.220 --> 00:21:31.280
Right, so it's really a form of derivative.

00:21:31.620 --> 00:21:31.800
Okay.

00:21:32.320 --> 00:21:32.640
Bingo.

00:21:33.000 --> 00:21:34.660
I was just thinking that.

00:21:35.400 --> 00:21:35.760
Right.

00:21:36.240 --> 00:21:44.260
Now, in fact, Coinbase, the head just said, we're going to be able, they're planning on collateralizing with real stock.

00:21:44.260 --> 00:21:49.200
He said, we're going to be able to bring 4 billion new customers into the stock market.

00:21:52.500 --> 00:21:52.900
Okay.

00:21:53.280 --> 00:21:54.460
Yeah, I got the picture.

00:21:54.920 --> 00:21:55.360
Hold on.

00:21:55.500 --> 00:21:58.480
Oh, no, I'm going to keep going because I'm not through with this at all.

00:21:58.960 --> 00:22:01.160
Okay, so keep going.

00:22:01.680 --> 00:22:04.840
So let's look at what the banks are saying.

00:22:04.840 --> 00:22:10.180
So I'm sitting in the meeting, so DTC happens two weeks before the meeting.

00:22:10.280 --> 00:22:24.760
I'm sitting in the meeting and JPMorgan City and a whole bunch of the clearinghouse banks announced they're going to move bank deposits onto distributed ledgers, making them potentially programmable.

00:22:25.200 --> 00:22:25.320
Okay.

00:22:26.140 --> 00:22:32.180
So now we're talking about stocks and bonds and bank deposits, as well as your crypto.

00:22:32.900 --> 00:22:34.960
Okay, so keep going to the next slide.

00:22:36.920 --> 00:22:45.980
Yeah, so here's Brian Armstrong from Coinbase saying, oh, $4 billion new people in the markets, in U.S. Stock market.

00:22:48.120 --> 00:22:50.740
Okay, so we're going to get-

00:22:50.740 --> 00:22:51.980
Trading 24-7, yeah.

00:22:52.060 --> 00:22:53.160
Trading 24-7.

00:22:53.160 --> 00:22:56.680
Oh, one firm said they're going to offer 20 times margin.

00:23:04.520 --> 00:23:07.280
Okay, yes, go ahead.

00:23:07.740 --> 00:23:10.500
So let's look at the balance sheet, okay?

00:23:10.900 --> 00:23:15.820
So I said $183 trillion in household net worth.

00:23:16.880 --> 00:23:29.520
Now, if you pull in bank deposits and you pull in global stocks and bonds, there's $114 trillion at DTC, but globally there's $271 trillion, right?

00:23:29.980 --> 00:23:31.260
And you add bank accounts.

00:23:31.340 --> 00:23:33.420
Now we're talking about a world of $300 trillion.

00:23:34.980 --> 00:23:38.360
Now, how much is that of U.S. Household net worth?

00:23:38.400 --> 00:23:44.700
If you look at the right, securities are 40% to 55%, and bank deposits are 5%.

00:23:44.700 --> 00:23:51.200
So now we're talking about 45% to 60%, well, you add crypto, you know, it's another 1%.

00:23:51.200 --> 00:23:56.800
May I interject something here, just to make people remember something?

00:23:57.820 --> 00:24:12.900
Before 9-11, remember the Russian economist by the name of Dr. Tatiana Koryagana, who wrote in Pravda that the West, this is in July of 2001,

00:24:12.900 --> 00:24:26.520
That the West was shortly going to be attacked on its own soil by a cabal, a conspiracy, that had assets in excess of $300 trillion, and that was her figure.

00:24:27.180 --> 00:24:27.520
Right.

00:24:28.760 --> 00:24:34.780
Right, and if you look at all the money that's been disappearing and how the offshore havens have ballooned while that's happening.

00:24:35.040 --> 00:24:35.340
Yep.

00:24:35.780 --> 00:24:37.280
Yep, it's absolutely possible.

00:24:37.280 --> 00:24:42.060
It's always amazing to me how much gets drained and they get away with it.

00:24:42.680 --> 00:25:00.060
Anyway, so now going, the last time I spoke to you in News Trends & Stories, the Soleri team is working with legislators, amazing legislators all over the country, who are trying to pass legislation to put up guardrails against $4 trillion.

00:25:00.680 --> 00:25:14.380
And suddenly going into next year's legislation, or the next legislative session, we're talking about putting up guardrails on $300 trillion, not $4 trillion, $300 trillion, okay?

00:25:14.780 --> 00:25:18.120
So that's almost a multiple of 100 times.

00:25:19.400 --> 00:25:23.840
We're talking about the entire financial system, okay?

00:25:24.360 --> 00:25:29.840
So, and if you look at the speed at which they say they're going to move, Joseph, it's very, very fast.

00:25:30.680 --> 00:25:33.820
Okay, so here's my concern.

00:25:34.300 --> 00:25:42.460
If I was going to give an award for the worst marketing job of the year, it would be this one for Secretary Besant.

00:25:42.580 --> 00:25:45.300
So if we could show the second video.

00:25:45.840 --> 00:25:57.520
2,200, the shells and missiles and drones here, 5 or 600 there, all of a sudden it's, oh, here, they have at it.

00:25:57.520 --> 00:26:01.260
So, we've frozen Iranian bank accounts.

00:26:01.480 --> 00:26:03.740
After they started getting bombed by Iran.

00:26:03.920 --> 00:26:09.520
Yes, but it was a big, it was a big strategic failure on the financial side.

00:26:09.700 --> 00:26:10.560
And you jumped right in.

00:26:10.660 --> 00:26:12.220
And we jumped right in.

00:26:12.500 --> 00:26:14.880
And, they've been very good partners.

00:26:15.420 --> 00:26:19.400
We, I believe that we have seized about a billion dollars of their crypto.

00:26:20.780 --> 00:26:21.500
And, you know.

00:26:21.500 --> 00:26:22.640
Just outright seized it.

00:26:22.700 --> 00:26:24.980
Just outright grabbed the wallets.

00:26:24.980 --> 00:26:31.960
Some of the, some of them may be, like, typing in right now and realize, they might not have realized that their wallet had been grabbed.

00:26:32.200 --> 00:26:39.520
And, we are working with our allies all over Europe to grab, villas and houses and properties.

00:26:40.100 --> 00:26:42.620
And, this is money that's stolen from the Iranian people.

00:26:44.200 --> 00:26:45.120
Wait a minute.

00:26:45.640 --> 00:26:48.440
So, wait a minute.

00:26:48.440 --> 00:26:59.760
So I'm going out to market $4 trillion of stable coins to get people all around the world into the, my treasury bill market to finance treasuries.

00:27:00.020 --> 00:27:00.280
-huh.

00:27:00.280 --> 00:27:06.980
And I'm, and that money is going into treasuries where it's going to finance the war machine that is trying to take over the world.

00:27:07.400 --> 00:27:07.620
Yes.

00:27:07.620 --> 00:27:18.160
So my way of marketing is to remind them that every dime they put in, these assets has a leash and I can grab that leash whenever I want.

00:27:18.440 --> 00:27:21.360
Yeah, that was my, this is my problem.

00:27:21.500 --> 00:27:42.960
He just confirmed something that you and I were saying 10 to 12 years ago when all of this hype about cryptocurrencies and distributed ledgers and blockchain, oh, now we have a way around an end run around the central banksters and this is a completely secure, non-hackable system.

00:27:42.960 --> 00:27:48.900
Your money is safe, no one can take it, and there we are, folks.

00:27:49.140 --> 00:27:55.980
He just went on record and admitted it was all a big, huge scam.

00:27:56.280 --> 00:27:56.760
Right.

00:27:57.420 --> 00:28:10.860
I couldn't believe he did that because if you're coming out and you're going to market $4 trillion in stable coins, it's like, get out of a real asset that you control and come into this asset that has a leash on it.

00:28:10.980 --> 00:28:11.240
Bam.

00:28:11.240 --> 00:28:16.540
Yeah, that we can confiscate anytime we want to.

00:28:17.260 --> 00:28:21.220
Well, here's the thing, because I used to have clients who had money all over the world.

00:28:21.480 --> 00:28:30.080
And if you have a, if you own dollars anywhere, if you have dollars in your bank account, from a legal matter, it's deemed to be in New York.

00:28:30.420 --> 00:28:33.800
So those dollars are not in Zurich or Singapore, they're in New York.

00:28:34.120 --> 00:28:34.340
Right.

00:28:34.340 --> 00:28:42.120
Okay, so Justin, I just want to show Joseph the illustration for Money & Markets this week.

00:28:42.220 --> 00:28:44.460
This is, you know what a genius Robert is.

00:28:44.600 --> 00:28:45.740
He's an amazing genius.

00:28:45.980 --> 00:28:57.040
Okay, so I was trying to explain this idea of the importance of staying focused on real assets as opposed to the unreal and chasing these bubbles.

00:28:57.300 --> 00:29:10.020
So here's Mr. Global rolling up the real assets, your land, your real estate, your houses, while everybody's chasing these, these bubbles, whether they're SPACs or crypto or, whatever.

00:29:11.260 --> 00:29:14.440
He could have put a couple of tulips up there too.

00:29:15.340 --> 00:29:15.860
Exactly.

00:29:18.100 --> 00:29:19.020
That's good.

00:29:19.740 --> 00:29:26.160
So to me, there's a difference between an asset that you really own and control and one that can be snapped and grabbed away.

00:29:26.160 --> 00:29:28.560
One's an asset, the other's a trap.

00:29:28.900 --> 00:29:35.460
Well, yeah, you just said a couple slides ago about the Deposit Trust Corporation archiving securities.

00:29:36.160 --> 00:29:47.980
So in other words, they're taking securities, not just money, folks, they're taking securities, stocks, bonds, all of that into the digital archive, which they control.

00:29:48.200 --> 00:29:55.740
Well, we've had a real debate because my friend David Webb and I deeply disagree.

00:29:55.980 --> 00:30:00.620
He has this book about a great taking and he's saying the Fed can take your stocks and bonds.

00:30:01.380 --> 00:30:07.440
And I'm saying, David, if you look at his basis on saying all of that, I said, that's not the real problem.

00:30:07.780 --> 00:30:10.600
The real problem is they move stocks on a distributed ledger.

00:30:10.940 --> 00:30:11.280
Yes.

00:30:11.620 --> 00:30:13.220
And then they can take them.

00:30:13.320 --> 00:30:18.140
And the Secretary of State just explained to you how easy that was.

00:30:18.140 --> 00:30:30.920
Remember, in the beginning of the operation last year when they tried to do it covertly, he claimed he drove the price of the Iranian currency down 94% against the dollar.

00:30:30.940 --> 00:30:32.760
Oh, they can do much more than that.

00:30:33.000 --> 00:30:41.180
People, they can use the transaction period as a transaction for stocks or bonds or whatever.

00:30:41.180 --> 00:30:54.820
They can use that period that you and I would know as the float and transact during the float itself and use somebody else's assets as their own in terms of an asset on the ledger.

00:30:54.940 --> 00:30:58.960
So, in other words, they're ballooning in every way they possibly can.

00:30:59.140 --> 00:31:00.840
It's just a craziness.

00:31:01.340 --> 00:31:05.540
So, one of the things we're going to get into when we go into story number four about the equity markets.

00:31:05.540 --> 00:31:09.740
The equity markets are at a – the pillar – the Shiller PE is at 42.

00:31:10.040 --> 00:31:12.440
At the height of the dot-com, it was 44.

00:31:13.080 --> 00:31:17.140
So, it's getting close and people are beginning to say we're in dot-com territory.

00:31:18.280 --> 00:31:29.360
And, very fine investment advisors are saying, I just – I'm going to show you something where Ed Dowd, just thinks you're crazy to stay in the markets.

00:31:30.180 --> 00:31:31.940
And – but here's the problem.

00:31:33.000 --> 00:31:42.300
Imagine in your mind – this is just an imaginary exercise – that we go out to the global citizens and we say, here's your stablecoin account.

00:31:42.420 --> 00:31:46.220
You can get out of your local currency and you can go into dollars.

00:31:46.640 --> 00:31:46.860
Right.

00:31:46.940 --> 00:31:51.200
And you can do it through your mobile payment systems, Google, Apple, et cetera.

00:31:52.040 --> 00:31:56.500
And we're going to lend you money.

00:31:56.500 --> 00:32:04.500
You can borrow, if you're a small farmer, if you're a small businessman, you can borrow and collateralize it with your land and real estate.

00:32:05.360 --> 00:32:05.800
Right.

00:32:06.200 --> 00:32:08.780
But – but we'll loan you all the money you want.

00:32:09.080 --> 00:32:09.520
Right.

00:32:09.620 --> 00:32:16.040
And – and not only that, in your wallet or related wallet, you can trade stocks.

00:32:16.720 --> 00:32:21.020
And – and you can move that – that, let's say, we'll lend you $1,000.

00:32:21.480 --> 00:32:25.720
You move that $1,000 into your stock account with 20 times margin.

00:32:25.720 --> 00:32:37.680
You can buy $20,000 of Apple or Google or Meta, or I should say Alphabet, and – and – and you can – you can trade it 24-7.

00:32:39.900 --> 00:32:47.040
Do you think if you brought 4 billion people in and gave them that kind of leverage that you could run the stock market up more?

00:32:47.580 --> 00:33:07.820
Oh, what you're outlining, Catherine, is the prelude to the stock market crashes of 1929, because this is precisely the type of things that they were doing, only they didn't have a cryptocurrency and a 24-hour, 7-days-a-week stock market to do it on.

00:33:08.120 --> 00:33:08.860
Now they do.

00:33:09.040 --> 00:33:11.780
And they didn't have a 20-times margin either.

00:33:12.500 --> 00:33:12.680
Right.

00:33:12.680 --> 00:33:25.660
Right, so now we're, I said that student loan, maybe I'll just show you the cover for the student loan theme for this second quarter wrap-up, if you could just bring up the cover, Justin.

00:33:26.660 --> 00:33:35.200
So our theme is student loans, the fraudulent inducement of family wealth, because it's so bankrupted families.

00:33:36.200 --> 00:33:37.100
There you go.

00:33:38.460 --> 00:33:38.740
Yeah.

00:33:39.260 --> 00:33:40.420
And it's true.

00:33:40.960 --> 00:33:41.180
Yeah.

00:33:41.480 --> 00:33:42.120
It's true.

00:33:42.680 --> 00:33:50.320
So I hadn't looked at student loans for about 10 years, and I've been reading and working on the draft, and it's so bad.

00:33:50.500 --> 00:33:56.300
It's so, I've never seen so much predatory lending and tricks and lies and deceit.

00:33:56.540 --> 00:33:57.700
It's incredible.

00:33:57.920 --> 00:33:59.500
This is war.

00:33:59.960 --> 00:34:00.760
Yes, it is.

00:34:00.980 --> 00:34:01.220
Right.

00:34:01.300 --> 00:34:01.800
It's war.

00:34:02.180 --> 00:34:10.720
And it's like they've taken all of the things they've learned doing student loans and doing some of the other fraudulent inducements, like the mortgage market.

00:34:11.480 --> 00:34:12.780
And now they're going to do it globally.

00:34:13.160 --> 00:34:13.520
Yes.

00:34:14.000 --> 00:34:14.260
Right.

00:34:14.680 --> 00:34:14.960
Right.

00:34:15.340 --> 00:34:16.600
Because they're going after retail.

00:34:16.720 --> 00:34:19.280
They're going after the small business guys and the small farmers.

00:34:19.920 --> 00:34:21.780
And that's what they're going to do.

00:34:22.040 --> 00:34:27.200
So, anyway, so this is absolutely accelerating.

00:34:27.200 --> 00:34:32.180
And of course, the question for everybody is they listen to this is what you can do.

00:34:32.320 --> 00:34:33.740
And there's so much you can do.

00:34:34.040 --> 00:34:38.860
First you can do is keep analog alive, keep cash alive, keep checks alive.

00:34:39.160 --> 00:34:44.840
But the other thing you can do is stop financing these guys, stop working for them, stop helping them.

00:34:45.480 --> 00:34:49.480
I am, we're going to talk about this in story number five and four.

00:34:49.620 --> 00:35:00.200
I am so sick of sitting in an audience where people in their 401ks and IRAs are, half of their money is financing data centers.

00:35:00.640 --> 00:35:01.120
Yes.

00:35:01.520 --> 00:35:02.400
Half of their money.

00:35:02.720 --> 00:35:03.080
Yes.

00:35:03.480 --> 00:35:14.080
So we'll get into that subsequently, but, and then of course you can get legislation passed in your state or support the people who are getting legislation.

00:35:14.600 --> 00:35:26.160
So if you have legislators in your state who are working to pass legislation, and put up guardrails, so create legislation for your right to have a digital life.

00:35:26.680 --> 00:35:38.000
Pass legislation protecting cash, and then pass legislation to put up guardrails on all the distributed ledger programmable assets and money, for God's sake, support them.

00:35:38.560 --> 00:35:48.460
I think we have to go further with cash. I think we have to make it a law that it remains legal tender and that all businesses must accept it in transaction.

00:35:48.940 --> 00:35:57.980
So here's what we found in the states. The states are willing to say the state must accept it. But a lot of states hate to tell businesses what to do.

00:35:58.200 --> 00:35:58.420
I know.

00:35:58.820 --> 00:36:14.300
But let's go back and look at the slides on cash. So Massachusetts passed a law protecting cash access in 78. And then nothing happened until 2019. And now what you can see is states are starting to do this.

00:36:15.060 --> 00:36:37.460
New Jersey, Rhode Island in 2019, Connecticut and Colorado in 21, Oregon and Delaware in 22, Montana in 23, Idaho in 24. Idaho was just protecting government or requiring government. Then South Dakota and D.C. In, between, I think that's 25, and then New York in 26.

00:36:38.320 --> 00:37:01.180
And the big divide is many governments hate to tell the small business people they have to do it, but they will say, okay, government has to do it. And that's sort of step one. And if you could go to the prior slide, Justin, I just want to show, we have this, we did this in our legislative briefing last week, and it'll, the video will be up on the 17th.

00:37:01.180 --> 00:37:25.660
And the slides are already up at the commentary. You can get and download them. But this shows you the details of what these different states have done. And some cities, too, New York City, Philadelphia, San Francisco, you can get a local law adapted. And I'm with you. If you look at how fast they're moving on all $300 trillion, keeping analog alive and cash alive is absolutely essential and very, very doable.

00:37:26.000 --> 00:37:49.560
We just published a new interview called Turtling with Cash Part 2 with Susan Luches. And if you look at, a lot of people have turned around on this issue globally, including the Scandinavian Central Bank. So, yep, it's very good. Okay, so anything else on, there are many things you can do. I want to point out, we have this come and clean. Did we send you a come and clean booklet?

00:37:49.560 --> 00:37:50.260
Yes, I have it.

00:37:50.260 --> 00:38:19.820
Okay, so this is really a buffet of all the different things you can do. And, for one thing, if you're going to work in building this digital control grid, maybe you should stop. If you love crypto, maybe it's time for the crypto industry to step up and take responsibility and say, we're going to help you put up guardrails. So I like to say that if the utility industry had been as responsible as the crypto industry, my ancestors would have been electrocute.

00:38:20.260 --> 00:38:22.400
Yes, probably.

00:38:22.400 --> 00:38:26.420
Right. So I don't know if you ever remember the old-timey utility executives?

00:38:26.900 --> 00:38:27.460
Oh, yes.

00:38:27.960 --> 00:38:31.220
The safety was like number one, number two, number three.

00:38:31.520 --> 00:38:31.720
Yeah.

00:38:31.720 --> 00:38:39.820
They were just safety fanatics protecting their customer from the dangers of, the electrical lines.

00:38:40.640 --> 00:38:46.680
It's time for the crypto industry to start caring about being something other than a honey trap.

00:38:47.140 --> 00:38:50.720
I agree, but I have to say I'm not holding my breath.

00:38:51.920 --> 00:39:01.420
I will say this, as a collective, not as individuals, but as a collective, it is the single most irresponsible industry I have ever seen in my life.

00:39:02.340 --> 00:39:08.240
And it is even more irresponsible than the private equity industry, which was the leader up until crypto.

00:39:08.620 --> 00:39:11.740
And they are now in a partnership in Washington.

00:39:12.400 --> 00:39:13.460
Oh, joy.

00:39:13.980 --> 00:39:15.320
Yeah, they're lobbying together.

00:39:16.040 --> 00:39:21.500
Okay, so let's go to story number two, the shift to C4, energy wars and trade bottlenecks.

00:39:22.500 --> 00:39:27.000
And I say C4 is an expression I got from Thierry Mison where he said,

00:39:27.540 --> 00:39:35.180
The world is reorganizing from the G7 to the C4 being China, India, Russia, and the United States.

00:39:35.480 --> 00:39:37.960
And they're slicing up the world.

00:39:38.640 --> 00:39:45.540
If you go to story number two, Justin, Brad put up the C4 map this morning.

00:39:45.640 --> 00:39:46.560
It's really cute.

00:39:47.100 --> 00:39:47.820
Isn't that cute?

00:39:48.140 --> 00:39:49.260
That's good.

00:39:51.840 --> 00:39:53.020
Well, here's the thing.

00:39:53.140 --> 00:39:57.400
If the East-West strategy to take down Russia fails,

00:39:58.100 --> 00:40:01.820
Then if you're going to get the resources you need to be resilient,

00:40:02.040 --> 00:40:03.500
Then you've got to go north-south.

00:40:03.960 --> 00:40:04.340
Right?

00:40:04.580 --> 00:40:07.720
And that's what the Greenland to Latin America thing is.

00:40:07.720 --> 00:40:16.200
So with that, let me introduce the first video for this story on Iran and the war, et cetera.

00:40:16.920 --> 00:40:20.700
Dollar dominance is essential in everything President Trump is doing here.

00:40:21.380 --> 00:40:28.100
If you look, the new Venezuela is going to, is invoicing in dollars.

00:40:28.260 --> 00:40:30.440
They're coming back onto the dollar system.

00:40:30.580 --> 00:40:31.540
They've been sanctioned.

00:40:31.560 --> 00:40:34.960
They were not allowed to translate or to transact in dollars.

00:40:35.040 --> 00:40:41.500
And now, dollar, the dollar is going to be the centerpiece of their trade.

00:40:42.140 --> 00:40:45.840
They were selling discounted oil to China and not getting dollars.

00:40:46.260 --> 00:40:53.840
We're seeing in the Iranian negotiations, the Iranians will be invoicing in dollars.

00:40:54.140 --> 00:40:58.380
So everything we are doing is pushing the dollar back.

00:40:58.760 --> 00:41:04.660
It's never left as the centerpiece for the global currency system, but we're reinforcing it.

00:41:04.660 --> 00:41:17.920
I would anticipate when the Russia-Ukraine conflict ends that Russia will want to come back in the dollar system because, again, the dollar, it's our liquidity.

00:41:18.300 --> 00:41:19.380
It's our capital markets.

00:41:19.540 --> 00:41:20.880
It's the depth and breadth.

00:41:21.320 --> 00:41:23.060
Everyone wants to be here.

00:41:23.540 --> 00:41:30.880
And I think many times, the great thing about the United States is we course correct when we go too far one way or the other.

00:41:30.880 --> 00:41:47.120
And I think we should not be shy about flexing where we have advantages and where we have advantages, share with our allies, and push back on those who are not aligned with us.

00:41:49.440 --> 00:41:54.900
Okay, so let's, I should mention in story number one, we have a wealth of stats.

00:41:54.900 --> 00:42:02.540
I had Corey Lynn go and look at all the stats on the dollar, and the dollar remains dangerous and dominant.

00:42:02.760 --> 00:42:11.140
You're seeing a tiny drop in market share, but it's tiny, in both reserves and trade and trading across the board.

00:42:11.840 --> 00:42:16.380
The dollar remains strong throughout this whole period, and right now it's in an uptrend.

00:42:16.380 --> 00:42:40.980
So I keep hearing, various people chiming in about how it's going to collapse, and we've been, I don't know if you remember in 2014 when we were together in California in a workshop, and you exploded at somebody who said that, the dollar was going to collapse and the Chinese were going to run the global currency, and you said, China has only one aircraft carrier, and they're still learning how to sail it.

00:42:40.980 --> 00:42:41.680
Are you crazy?

00:42:44.880 --> 00:42:57.240
Well, listen, Catherine, I've been hearing the dollar is going to, as you know, and you have too, we've been hearing the dollar is going to collapse any minute now, at least since Richard Nixon, if not before.

00:42:57.900 --> 00:42:58.260
Right.

00:42:58.440 --> 00:43:10.380
So, I'm not in the financial dollar is going to collapse chicken little world at all. I'm just not. I don't see it happening anytime soon.

00:43:10.380 --> 00:43:24.980
Okay, so one thing that is reminding me from this video is the U.S. Now controls who gets Venezuela's oil. So they direct the sales and they get all the revenues.

00:43:25.620 --> 00:43:25.720
Yep.

00:43:25.720 --> 00:43:30.580
So remember how the revenues, the oil sale revenues from Iraq are now deposited at the New York Fed?

00:43:31.020 --> 00:43:31.140
Yeah.

00:43:31.140 --> 00:43:36.980
I don't know if Venezuela, I'm assuming Venezuela is also depositing at the New York Fed from what the announcements have been.

00:43:36.980 --> 00:43:40.460
But this is how you bolster the dollar, right?

00:43:41.460 --> 00:43:41.940
Yeah.

00:43:42.340 --> 00:43:44.820
You take over the oil and control the market.

00:43:45.180 --> 00:43:48.780
This is not the end of the petrodollar.

00:43:48.920 --> 00:43:50.940
This is the petrodollar on steroids.

00:43:51.880 --> 00:43:52.120
Right.

00:43:52.220 --> 00:43:56.500
But it's also, somebody pointed out, it's not the petrodollar, it's the LNG gas dollar.

00:43:56.800 --> 00:43:57.720
That's true too.

00:43:58.240 --> 00:43:58.380
Yeah.

00:43:58.380 --> 00:44:06.220
So we've been publishing this timeline that I've sent you several times of all the sabotage, both of energy and trade bottlenecks around the world.

00:44:06.300 --> 00:44:09.540
And we're about to republish the next monthly update.

00:44:10.220 --> 00:44:14.320
And I think, I describe this as channel wars.

00:44:14.780 --> 00:44:15.800
Yes, absolutely.

00:44:16.220 --> 00:44:22.460
I want, here's my channel, my publicly traded stocks, my flow of data.

00:44:23.240 --> 00:44:23.540
Right.

00:44:23.640 --> 00:44:26.080
And I want everything coming through my channel.

00:44:26.240 --> 00:44:32.540
So if a Huawei phone gives data to China, then it's illegal.

00:44:33.060 --> 00:44:34.540
Chinese cars are illegal.

00:44:34.720 --> 00:44:38.880
You can't buy Chinese cars in the United States because they sent the data to China.

00:44:39.400 --> 00:44:39.500
Right.

00:44:39.840 --> 00:44:42.700
So I've got a channel and you've got to be in my channel.

00:44:42.820 --> 00:44:54.260
That was the fight I had, with the feds because I was, I was returning money to taxpayers and that was funneling money out of their corporate channels.

00:44:54.420 --> 00:44:54.860
Right.

00:44:55.020 --> 00:45:01.680
Because they were subsidizing monopolies and they were using money out of the back door of HUD to do that.

00:45:01.680 --> 00:45:02.320
Okay.

00:45:02.780 --> 00:45:10.940
So we've seen remarkable headlines, including you discussing this, about channel wars.

00:45:11.060 --> 00:45:15.240
So let me show you the next video and then I want to get back to your story on cable cutting.

00:45:15.920 --> 00:45:18.780
Kind of delve into what we're dealing with.

00:45:18.840 --> 00:45:19.900
So this digital noose.

00:45:20.260 --> 00:45:24.300
Now note on the map here, it is not just the straight, okay?

00:45:24.300 --> 00:45:27.780
It actually goes around into the Red Sea.

00:45:27.940 --> 00:45:30.440
Again, very tight pass.

00:45:31.360 --> 00:45:32.500
Why is that important?

00:45:33.060 --> 00:45:42.180
Well, look, if you start to get into the things that it could impact, it's pretty nutty, actually,

00:45:42.500 --> 00:45:47.140
Because it is not something that you would initially think about.

00:45:47.560 --> 00:45:49.620
I wasn't really focused on that.

00:45:49.700 --> 00:45:52.400
I'm focused on the oil and the energy and the impacts around the world.

00:45:52.400 --> 00:45:56.200
But the digital aspect is absolutely crazy.

00:45:57.120 --> 00:46:01.200
So, as I mentioned, it's no longer just an oil choke point.

00:46:01.560 --> 00:46:02.880
It's a data choke point.

00:46:03.520 --> 00:46:07.900
Everyone understands the Strait of Hormuz, right?

00:46:07.920 --> 00:46:09.320
It's a valve for golf oil.

00:46:09.600 --> 00:46:16.960
But sitting underneath it, that exact same corridor, are fiber optic cables carrying regional and international

00:46:16.960 --> 00:46:18.260
Internet traffic.

00:46:18.440 --> 00:46:24.300
That means a Hormuz crisis does not just threaten crude, diesel, and jet fuel.

00:46:24.420 --> 00:46:32.820
It also threatens cloud services, banking traffic, military comms, logistics, and AI infrastructure.

00:46:33.860 --> 00:46:34.000
Okay.

00:46:34.260 --> 00:46:44.300
So, over the years, you and I have seen many strategic moments when underground cables get cut.

00:46:44.720 --> 00:46:44.980
Yep.

00:46:45.520 --> 00:46:49.580
So, tell us a little bit about your cable cutting updates.

00:46:50.140 --> 00:47:13.240
Well, the cable business started way back in the 2000s with that attack on a California electrical substation when you had what the FBI itself would go on to describe as a professional team hit a substation, remove specific equipment, and got out before law enforcement could respond.

00:47:13.600 --> 00:47:18.200
That was followed in that same time frame of a few months.

00:47:18.540 --> 00:47:24.600
That was followed by the cutting of an internet cable between Flagstaff and Phoenix.

00:47:25.960 --> 00:47:40.980
Then that was followed by a further cable cutting episode in California, in San Francisco, where again the FBI came to the conclusion it was a professional team that knew exactly what to do and where to go.

00:47:41.680 --> 00:47:51.000
There was an internet cable that cut, that was cut in San Francisco that interfered with a lot of bank traffic, transaction clearing, and so on.

00:47:52.040 --> 00:48:03.880
Then that was followed by yet another internet cable being cut that brought down the Salt Lake City Air Traffic Control Center, which I remember that one.

00:48:03.880 --> 00:48:18.640
It was reported on national news that messed up air traffic control in the entire Southeast United States because Salt Lake City's air traffic had to be shunted to Phoenix and Las Vegas and Los Angeles and so on.

00:48:19.500 --> 00:48:27.120
So I came to the conclusion, and I don't know if this is where you wanted me to go, but my conclusion from all these episodes, Catherine,

00:48:28.400 --> 00:48:44.740
Is these are deliberate attacks, number one, they're professional, and number three, somebody is trying to map the hardware architecture of the whole internet.

00:48:46.200 --> 00:49:02.540
And they're injecting themselves into a process. They're serving notice. That's in addition to the hacks that we saw against Wells Fargo and Sony and so on and so forth, the software attacks. So in other words, this is a coordinated effort.

00:49:02.540 --> 00:49:20.040
And I have to say that I think it's probably a non-state actor or actors behind it. And they're part of the operation is they're sending some sort of message to Mr. Globaloni and something. I don't think it's Mr. Globaloni behind it.

00:49:20.140 --> 00:49:20.720
Right.

00:49:20.960 --> 00:49:25.820
Because this does not serve their interest to have these weaknesses exposed.

00:49:26.340 --> 00:49:38.940
So we wrote a book review on a very good book called Underground Empire and what it describes and it's you know it's the underground cables and the undersea cables but it's also going to more and more include the satellites.

00:49:39.560 --> 00:49:39.640
Right.

00:49:39.920 --> 00:49:45.440
This entire control model is dependent on hardware infrastructure all around the world.

00:49:45.720 --> 00:49:46.060
Yes.

00:49:46.660 --> 00:49:54.820
You know if you look at the data centers and the capacity here that they're building you know that's not just for U.S. Data that's for global data behind the dollar.

00:49:54.820 --> 00:50:04.600
That is the entire dollar system data putting you know as you know 4 billion plus 325 million people under surveillance if they can get them.

00:50:05.060 --> 00:50:05.080
Yeah.

00:50:05.080 --> 00:50:12.100
You know they're getting them into a honey trap but they're getting them into a surveillance trap and that's a lot of data and it depends on those cables.

00:50:13.040 --> 00:50:13.160
Yes.

00:50:13.160 --> 00:50:23.520
So when the Iranians came out and said we want to tax the cables and we assert jurisdiction over it because that's our territory and we're asserting jurisdiction and we have the right to tax those cables.

00:50:23.520 --> 00:50:26.880
They were basically throwing the whole model out.

00:50:27.320 --> 00:50:27.420
Yes.

00:50:27.420 --> 00:50:35.500
They're saying the whole going direct model we're going to throw up in the air because we're going to tax you and assert jurisdiction over your infrastructure.

00:50:35.980 --> 00:50:39.660
And they don't have a Rothschild controlled central bank.

00:50:40.020 --> 00:50:40.360
Right.

00:50:40.640 --> 00:50:40.860
Right.

00:50:41.440 --> 00:50:45.140
Golly I wonder if that's I wonder if that's just merely a coincidence.

00:50:45.780 --> 00:50:55.300
Well I think part of the real negotiation here is trying to get the Iranians to agree to go on the US on the control grid infrastructure.

00:50:55.620 --> 00:50:55.820
Right.

00:50:55.920 --> 00:51:11.680
They want them on the distributed ledger they can't be outside the system you know or they just cut them off from China and that's another question was you know how much oil are they sending to China from Alaska to basically buy them out of Iran.

00:51:12.700 --> 00:51:41.720
Well given the fact that we've seen recently both Russia and China not only pledge support to Iran to the regime there but moving key military assets in particularly in Russia's case down toward the Iranian border I don't think they're ready to give up on Iran if anything I think they're reading the situation the long-term financial game just like you are.

00:51:41.720 --> 00:51:42.540
Right

00:51:42.540 --> 00:51:49.040
And this is the decision that they've taken in Moscow and Beijing if we get into this thing we won't ever get out

00:51:49.040 --> 00:51:57.500
So yeah, I read their move as being primarily a geopolitical financial move in response to this

00:51:57.500 --> 00:52:05.860
So remember they publicly they've embraced the BIS digital ID and CBDC thing they just want to control their own

00:52:05.860 --> 00:52:06.420
Right

00:52:06.420 --> 00:52:07.260
Right

00:52:07.260 --> 00:52:09.160
Right, they want to control their own

00:52:09.160 --> 00:52:14.020
Okay, so there have been a lot of major things that have happened

00:52:14.020 --> 00:52:15.660
I think

00:52:15.660 --> 00:52:20.440
In not only the conduct of this war

00:52:20.440 --> 00:52:23.820
But people's understanding of it that have really

00:52:23.820 --> 00:52:27.060
Shifted our view of the world

00:52:27.060 --> 00:52:27.920
So I want to show you

00:52:27.920 --> 00:52:30.540
This is Eric Prince at Hillsdale College

00:52:30.540 --> 00:52:31.760
He was a Navy SEAL

00:52:31.760 --> 00:52:33.860
And obviously he watches

00:52:33.860 --> 00:52:37.140
For business reasons he watches everything military closely

00:52:37.140 --> 00:52:39.140
They wanted me to talk about AI

00:52:39.140 --> 00:52:41.080
And the future of warfare

00:52:41.080 --> 00:52:43.120
I think

00:52:43.120 --> 00:52:45.620
I think it's important to look back

00:52:45.620 --> 00:52:47.780
To enable us to look forward

00:52:47.780 --> 00:52:49.440
And like

00:52:49.440 --> 00:52:50.940
Let's start where we are right now

00:52:50.940 --> 00:52:53.560
And what's happened in

00:52:53.560 --> 00:52:55.840
The Ukraine-Russia war

00:52:55.840 --> 00:52:58.780
Has massively accelerated

00:52:58.780 --> 00:53:00.960
Warfare in a way

00:53:00.960 --> 00:53:02.840
That I think it's the greatest advancement

00:53:02.840 --> 00:53:05.380
Or it's the greatest swing in the pendulum

00:53:05.380 --> 00:53:09.040
Really since Genghis Khan

00:53:09.040 --> 00:53:10.560
Put stirrups on horses

00:53:10.560 --> 00:53:12.340
Now

00:53:12.340 --> 00:53:14.220
If you go back that far

00:53:14.220 --> 00:53:16.560
I think that was 12

00:53:16.560 --> 00:53:18.380
1218 or so

00:53:18.380 --> 00:53:19.280
He set off

00:53:19.280 --> 00:53:22.300
Literally the Mongol Empire

00:53:22.300 --> 00:53:24.200
When he was done

00:53:24.200 --> 00:53:26.220
Went from the Pacific

00:53:26.220 --> 00:53:27.780
To Hungary

00:53:27.780 --> 00:53:30.660
And he mauled

00:53:30.660 --> 00:53:32.240
And terrorized his way

00:53:32.240 --> 00:53:32.840
Through

00:53:32.840 --> 00:53:36.400
Millions of people

00:53:36.400 --> 00:53:39.700
And millions of square miles of terrain

00:53:39.700 --> 00:53:41.420
What

00:53:41.420 --> 00:53:44.780
What stirrups on horses did

00:53:44.780 --> 00:53:45.560
Is it allowed

00:53:45.560 --> 00:53:47.520
Instead of walking into battle

00:53:47.520 --> 00:53:49.560
Or riding

00:53:49.560 --> 00:53:51.260
And having to get off and fight

00:53:51.260 --> 00:53:52.720
Dismounted

00:53:52.720 --> 00:53:54.560
It allowed people to stand up

00:53:54.560 --> 00:53:55.720
In the saddle

00:53:55.720 --> 00:53:57.160
Engage

00:53:57.160 --> 00:53:58.500
At a high rate of fire

00:53:58.500 --> 00:53:59.540
With a bow and arrow

00:53:59.540 --> 00:54:00.960
While riding forward

00:54:00.960 --> 00:54:02.400
And also riding backwards

00:54:02.400 --> 00:54:03.780
And so now you could

00:54:03.780 --> 00:54:05.560
War so accelerated

00:54:05.560 --> 00:54:07.120
Instead of moving at

00:54:07.120 --> 00:54:08.780
Three to five miles an hour

00:54:08.780 --> 00:54:10.380
Now you could move at

00:54:10.380 --> 00:54:12.040
Twenty and thirty miles an hour

00:54:12.040 --> 00:54:12.280
And

00:54:12.280 --> 00:54:14.720
The Mongol armies of course

00:54:14.720 --> 00:54:17.060
When he moved to the

00:54:17.060 --> 00:54:18.740
150,000 people

00:54:18.740 --> 00:54:19.740
Soldiers

00:54:19.740 --> 00:54:21.920
Each of them had three horses

00:54:21.920 --> 00:54:24.020
So you could ride hard

00:54:24.020 --> 00:54:25.040
Switch them out

00:54:25.040 --> 00:54:26.480
Ride hard again

00:54:26.480 --> 00:54:27.260
And so he was moving

00:54:27.260 --> 00:54:28.880
A hundred plus miles a day

00:54:28.880 --> 00:54:31.020
And he just outmaneuvered

00:54:31.020 --> 00:54:31.960
And wrecked

00:54:31.960 --> 00:54:32.460
Wrecked

00:54:32.460 --> 00:54:33.140
His way

00:54:33.140 --> 00:54:34.280
Through societies

00:54:34.280 --> 00:54:36.700
That's what's happened now

00:54:36.700 --> 00:54:38.660
You haven't seen the full effects yet

00:54:38.660 --> 00:54:40.160
But I'm telling you

00:54:40.160 --> 00:54:42.020
That level of change

00:54:42.020 --> 00:54:43.120
And black swan event

00:54:43.120 --> 00:54:43.940
Is possible

00:54:43.940 --> 00:54:47.800
Okay, so let's talk about

00:54:47.800 --> 00:54:48.780
Some of the things

00:54:48.780 --> 00:54:49.560
That have happened

00:54:49.560 --> 00:54:51.080
And there's

00:54:51.080 --> 00:54:52.580
There are more than several of it

00:54:52.580 --> 00:54:53.320
One is

00:54:53.320 --> 00:54:55.960
The previous war

00:54:55.960 --> 00:54:57.160
Against Iran

00:54:57.160 --> 00:54:58.720
Or attack on Iran

00:54:58.720 --> 00:55:00.000
Had been very successful

00:55:00.000 --> 00:55:01.580
And the reason

00:55:01.580 --> 00:55:02.780
It had been successful

00:55:02.780 --> 00:55:04.620
Was that the

00:55:04.620 --> 00:55:06.920
Palantir Lavender type systems

00:55:06.920 --> 00:55:08.620
Were able to track

00:55:08.620 --> 00:55:09.540
Identify

00:55:09.540 --> 00:55:11.340
And target for assassination

00:55:11.340 --> 00:55:12.700
You know

00:55:12.700 --> 00:55:15.220
11 of the top 12 leaders

00:55:15.220 --> 00:55:17.560
They go into the

00:55:17.560 --> 00:55:18.540
Covert operation

00:55:18.540 --> 00:55:20.240
Late in 2025

00:55:20.240 --> 00:55:23.300
Drive the currency down 94%

00:55:23.300 --> 00:55:25.720
And the covert operation

00:55:25.720 --> 00:55:27.000
Is working to start

00:55:27.000 --> 00:55:28.440
Riots and other problems

00:55:28.440 --> 00:55:29.440
And then suddenly

00:55:29.440 --> 00:55:31.200
Iran figures out

00:55:31.200 --> 00:55:32.580
How to shut down

00:55:32.580 --> 00:55:34.040
Starlink

00:55:34.040 --> 00:55:36.040
And the whole thing

00:55:36.040 --> 00:55:36.860
Collapses

00:55:36.860 --> 00:55:37.520
Yes

00:55:37.520 --> 00:55:38.220
And the West

00:55:38.220 --> 00:55:39.280
The West

00:55:39.280 --> 00:55:39.860
Israel

00:55:39.860 --> 00:55:40.760
And the U.S.

00:55:40.780 --> 00:55:41.860
Are left flat footed

00:55:41.860 --> 00:55:42.440
Yeah

00:55:42.440 --> 00:55:43.920
Boom

00:55:43.920 --> 00:55:44.960
So

00:55:44.960 --> 00:55:45.920
So they got

00:55:45.920 --> 00:55:46.740
Power shifted

00:55:46.740 --> 00:55:48.160
And I think

00:55:48.160 --> 00:55:49.300
That's really important

00:55:49.300 --> 00:55:49.660
Joseph

00:55:49.660 --> 00:55:51.080
Because my recollection

00:55:51.080 --> 00:55:51.720
Of when

00:55:51.720 --> 00:55:53.740
That full effect

00:55:53.740 --> 00:55:54.480
Of that system

00:55:54.480 --> 00:55:55.360
Was demonstrated

00:55:55.360 --> 00:55:55.920
By the

00:55:55.920 --> 00:55:57.280
11 assassinations

00:55:57.280 --> 00:55:59.340
All of the

00:55:59.340 --> 00:56:00.140
European leaders

00:56:00.140 --> 00:56:01.580
Just looked terrified

00:56:01.580 --> 00:56:02.380
Yep

00:56:02.380 --> 00:56:03.480
They sure did

00:56:03.480 --> 00:56:04.840
Because they know

00:56:04.840 --> 00:56:05.880
It's not just

00:56:05.880 --> 00:56:06.940
Iranians being tracked

00:56:06.940 --> 00:56:07.660
It's everybody

00:56:07.660 --> 00:56:08.300
Yes

00:56:08.300 --> 00:56:08.840
Right

00:56:08.840 --> 00:56:09.880
So

00:56:09.880 --> 00:56:10.900
But suddenly

00:56:10.900 --> 00:56:12.920
A group of

00:56:12.920 --> 00:56:14.260
A group of countries

00:56:14.260 --> 00:56:15.780
Because it can't just be Iran

00:56:15.780 --> 00:56:18.300
Figured out how to beat that system

00:56:18.300 --> 00:56:19.960
And all of a sudden

00:56:19.960 --> 00:56:21.220
It power shifted

00:56:21.220 --> 00:56:22.200
The whole situation

00:56:22.200 --> 00:56:22.640
Yes

00:56:22.640 --> 00:56:23.360
Right

00:56:23.360 --> 00:56:24.800
And that's when Trump

00:56:24.800 --> 00:56:26.280
Decides to go to war

00:56:26.280 --> 00:56:27.440
And

00:56:27.440 --> 00:56:28.520
And steps right

00:56:28.520 --> 00:56:29.180
In the trap

00:56:29.180 --> 00:56:30.780
And that's when Peter Thiel

00:56:30.780 --> 00:56:31.980
Moved his operation

00:56:31.980 --> 00:56:33.600
To Argentina

00:56:33.600 --> 00:56:35.220
Right

00:56:35.220 --> 00:56:36.220
We're going to get to that

00:56:36.220 --> 00:56:37.260
I've got a little video

00:56:37.260 --> 00:56:38.020
On Peter Thiel

00:56:38.020 --> 00:56:39.100
Moving to Argentina

00:56:39.100 --> 00:56:40.040
So

00:56:40.040 --> 00:56:41.340
You know

00:56:41.340 --> 00:56:45.980
I think that's a major

00:56:45.980 --> 00:56:47.180
Shift

00:56:47.180 --> 00:56:48.780
And I still don't understand

00:56:48.780 --> 00:56:50.780
What the full ramifications

00:56:50.780 --> 00:56:51.460
Of it are

00:56:51.460 --> 00:56:53.560
So let me talk

00:56:53.560 --> 00:56:54.580
Keep talking about

00:56:54.580 --> 00:56:55.360
The different things

00:56:55.360 --> 00:56:55.980
That have changed

00:56:55.980 --> 00:56:57.340
Russia

00:56:57.340 --> 00:56:58.220
And Iran

00:56:58.220 --> 00:56:58.620
And now

00:56:58.620 --> 00:56:59.440
Have proved

00:56:59.440 --> 00:57:00.560
That they can

00:57:00.560 --> 00:57:01.740
Develop

00:57:01.740 --> 00:57:02.460
And send

00:57:02.460 --> 00:57:03.100
A missile

00:57:03.100 --> 00:57:04.440
At very

00:57:04.440 --> 00:57:05.820
And they can make it

00:57:05.820 --> 00:57:07.200
On a very economic basis

00:57:07.200 --> 00:57:08.220
That Israel

00:57:08.220 --> 00:57:09.100
And the United States

00:57:09.100 --> 00:57:09.860
Cannot stop

00:57:09.860 --> 00:57:10.580
Right

00:57:10.580 --> 00:57:12.780
I'm going to go further

00:57:12.780 --> 00:57:13.300
Catherine

00:57:13.300 --> 00:57:14.320
And suggest

00:57:14.320 --> 00:57:15.460
And I'm not trying

00:57:15.460 --> 00:57:15.960
To say

00:57:15.960 --> 00:57:17.500
That the Iranians

00:57:17.500 --> 00:57:18.320
Would not have been

00:57:18.320 --> 00:57:19.300
Able to figure out

00:57:19.300 --> 00:57:20.240
What was going on

00:57:20.240 --> 00:57:21.500
With the Starlink

00:57:21.500 --> 00:57:22.940
Business

00:57:22.940 --> 00:57:24.880
But I

00:57:24.880 --> 00:57:26.000
Strongly suspect

00:57:26.000 --> 00:57:27.320
That was figured out

00:57:27.320 --> 00:57:28.160
By the Russians

00:57:28.160 --> 00:57:29.800
Really?

00:57:30.100 --> 00:57:30.860
Yes I do

00:57:30.860 --> 00:57:32.700
And shared with Iran

00:57:32.700 --> 00:57:34.780
Because we have to remember

00:57:34.780 --> 00:57:37.640
Both Russia and China

00:57:37.640 --> 00:57:39.120
Have significantly

00:57:39.120 --> 00:57:40.340
Large

00:57:40.340 --> 00:57:41.760
Very

00:57:41.760 --> 00:57:42.920
Adept

00:57:42.920 --> 00:57:43.620
Cyber

00:57:43.620 --> 00:57:44.480
Warfare

00:57:44.480 --> 00:57:46.160
Departments

00:57:46.160 --> 00:57:46.860
Right

00:57:46.860 --> 00:57:48.260
And I

00:57:48.260 --> 00:57:49.580
I strongly suspect

00:57:49.580 --> 00:57:50.640
That Russia may have

00:57:50.640 --> 00:57:51.620
Had something to do

00:57:51.620 --> 00:57:52.140
With this

00:57:52.140 --> 00:57:53.020
So I think

00:57:53.020 --> 00:57:54.240
Both Russia and China

00:57:54.240 --> 00:57:56.260
Were in on that

00:57:56.260 --> 00:57:57.080
Is my guess

00:57:57.080 --> 00:57:57.620
Yeah

00:57:57.620 --> 00:57:59.340
If Russia gave it to Iran

00:57:59.340 --> 00:58:00.300
They gave it to China

00:58:00.300 --> 00:58:00.660
China

00:58:00.660 --> 00:58:01.140
Probably

00:58:01.140 --> 00:58:01.700
In other words

00:58:01.700 --> 00:58:02.560
Those three

00:58:02.560 --> 00:58:03.460
Have it together

00:58:03.460 --> 00:58:04.740
And

00:58:04.740 --> 00:58:05.920
And it's important

00:58:05.920 --> 00:58:06.340
Because

00:58:06.340 --> 00:58:07.080
One you can

00:58:07.080 --> 00:58:08.080
Protect your people

00:58:08.080 --> 00:58:09.360
From

00:58:09.360 --> 00:58:10.620
The lavender

00:58:10.620 --> 00:58:11.640
Type systems

00:58:11.640 --> 00:58:12.240
Or

00:58:12.240 --> 00:58:13.060
I guess it's

00:58:13.060 --> 00:58:13.700
Where's daddy

00:58:13.700 --> 00:58:14.980
So you can

00:58:14.980 --> 00:58:15.820
You can protect

00:58:15.820 --> 00:58:16.320
Your people

00:58:16.320 --> 00:58:17.280
From where's daddy

00:58:17.280 --> 00:58:18.600
But then you can

00:58:18.600 --> 00:58:19.780
Respond with a missile

00:58:19.780 --> 00:58:20.880
That they can't stop

00:58:20.880 --> 00:58:21.480
Right

00:58:21.480 --> 00:58:22.820
And that changes

00:58:22.820 --> 00:58:24.180
The total equation

00:58:24.180 --> 00:58:24.900
Yep

00:58:24.900 --> 00:58:25.560
Of warfare

00:58:25.560 --> 00:58:26.120
Okay

00:58:26.120 --> 00:58:27.060
Now

00:58:27.060 --> 00:58:28.360
One of the major

00:58:28.360 --> 00:58:29.760
Things that we saw

00:58:29.760 --> 00:58:30.920
Happen in this war

00:58:30.920 --> 00:58:32.580
Is that

00:58:32.580 --> 00:58:33.740
The Iranians

00:58:33.740 --> 00:58:34.900
Took the position

00:58:34.900 --> 00:58:36.180
That

00:58:36.180 --> 00:58:37.580
If your military

00:58:37.580 --> 00:58:38.160
Is

00:58:38.160 --> 00:58:38.900
Is made

00:58:38.900 --> 00:58:39.780
Feasible

00:58:39.780 --> 00:58:41.140
And possible

00:58:41.140 --> 00:58:41.940
By private

00:58:41.940 --> 00:58:42.500
Corporate

00:58:42.500 --> 00:58:43.200
Companies

00:58:43.200 --> 00:58:44.120
Contractors

00:58:44.120 --> 00:58:45.300
We reserve

00:58:45.300 --> 00:58:45.900
The right to

00:58:45.900 --> 00:58:46.380
Bomb them

00:58:46.380 --> 00:58:47.100
Yes

00:58:47.100 --> 00:58:47.640
If you're

00:58:47.640 --> 00:58:48.180
If you're

00:58:48.180 --> 00:58:49.020
If you're

00:58:49.020 --> 00:58:50.060
Military data

00:58:50.060 --> 00:58:50.940
Is operating

00:58:50.940 --> 00:58:51.660
In a cloud

00:58:51.660 --> 00:58:52.680
At an Amazon

00:58:52.680 --> 00:58:53.660
Installation

00:58:53.660 --> 00:58:54.240
In the Gulf

00:58:54.240 --> 00:58:55.300
We reserve

00:58:55.300 --> 00:58:55.940
The right to

00:58:55.940 --> 00:58:56.360
Bomb them

00:58:56.360 --> 00:58:56.880
Yeah

00:58:56.880 --> 00:58:57.920
And you would

00:58:57.920 --> 00:58:58.780
See the Iranians

00:58:58.780 --> 00:58:59.420
Announce it

00:58:59.420 --> 00:58:59.800
And tell the

00:58:59.800 --> 00:59:00.420
Employees to

00:59:00.420 --> 00:59:00.700
Leave

00:59:00.700 --> 00:59:00.920
So

00:59:00.920 --> 00:59:01.580
Because they

00:59:01.580 --> 00:59:01.820
Were going

00:59:01.820 --> 00:59:02.360
To bomb it

00:59:02.360 --> 00:59:02.860
Yeah

00:59:02.860 --> 00:59:04.080
Yeah

00:59:04.080 --> 00:59:05.040
They're

00:59:05.040 --> 00:59:05.620
They're

00:59:05.620 --> 00:59:06.860
They're

00:59:06.860 --> 00:59:07.420
Basically

00:59:07.420 --> 00:59:08.220
Doing

00:59:08.220 --> 00:59:08.720
What

00:59:08.720 --> 00:59:09.380
What Germany

00:59:09.380 --> 00:59:09.840
Did in

00:59:09.840 --> 00:59:10.380
World War

00:59:10.380 --> 00:59:10.840
One

00:59:10.840 --> 00:59:11.660
They're

00:59:11.660 --> 00:59:12.240
Playing by

00:59:12.240 --> 00:59:12.800
The rules

00:59:12.800 --> 00:59:13.180
And they're

00:59:13.180 --> 00:59:13.640
Announcing

00:59:13.640 --> 00:59:14.060
Okay

00:59:14.060 --> 00:59:14.660
You know

00:59:14.660 --> 00:59:15.000
We're going

00:59:15.000 --> 00:59:15.340
To send

00:59:15.340 --> 00:59:15.880
U-boats

00:59:15.880 --> 00:59:16.240
Against

00:59:16.240 --> 00:59:16.880
Any ships

00:59:16.880 --> 00:59:17.120
And

00:59:17.120 --> 00:59:17.880
Too bad

00:59:17.880 --> 00:59:18.340
If you're

00:59:18.340 --> 00:59:18.760
Flying a

00:59:18.760 --> 00:59:19.040
Neutral

00:59:19.040 --> 00:59:19.420
Flag

00:59:19.420 --> 00:59:20.100
If you're

00:59:20.100 --> 00:59:20.500
Carrying

00:59:20.500 --> 00:59:20.920
War

00:59:20.920 --> 00:59:21.540
Materiel

00:59:21.540 --> 00:59:22.020
To Great

00:59:22.020 --> 00:59:22.340
Britain

00:59:22.340 --> 00:59:22.700
You're

00:59:22.700 --> 00:59:23.120
You're

00:59:23.120 --> 00:59:23.980
A belligerent

00:59:23.980 --> 00:59:24.740
Right

00:59:24.740 --> 00:59:25.440
And by law

00:59:25.440 --> 00:59:25.860
We can

00:59:25.860 --> 00:59:26.200
Sink you

00:59:26.200 --> 00:59:26.960
That's exactly

00:59:26.960 --> 00:59:27.540
What Iran

00:59:27.540 --> 00:59:28.060
Is doing

00:59:28.060 --> 00:59:29.360
Right

00:59:29.360 --> 00:59:30.220
Now

00:59:30.220 --> 00:59:31.020
Another thing

00:59:31.020 --> 00:59:31.280
That's

00:59:31.280 --> 00:59:31.740
Changed

00:59:31.740 --> 00:59:32.200
Is

00:59:32.200 --> 00:59:33.360
We reserve

00:59:33.360 --> 00:59:33.840
The right

00:59:33.840 --> 00:59:34.100
If

00:59:34.100 --> 00:59:34.740
If you

00:59:34.740 --> 00:59:35.520
If you

00:59:35.520 --> 00:59:36.040
Allow

00:59:36.040 --> 00:59:36.600
The U.S.

00:59:36.620 --> 00:59:36.940
To put

00:59:36.940 --> 00:59:37.480
A base

00:59:37.480 --> 00:59:38.400
In your

00:59:38.400 --> 00:59:38.800
Country

00:59:38.800 --> 00:59:39.780
We reserve

00:59:39.780 --> 00:59:40.160
The right

00:59:40.160 --> 00:59:40.600
To bomb

00:59:40.600 --> 00:59:41.240
That base

00:59:41.240 --> 00:59:41.560
And

00:59:41.560 --> 00:59:42.680
We don't

00:59:42.680 --> 00:59:43.000
Care

00:59:43.000 --> 00:59:43.500
If

00:59:43.500 --> 00:59:43.960
If you

00:59:43.960 --> 00:59:44.220
Think

00:59:44.220 --> 00:59:44.380
You're

00:59:44.380 --> 00:59:44.800
A sovereign

00:59:44.800 --> 00:59:45.280
Nations

00:59:45.280 --> 00:59:45.980
Who's not

00:59:45.980 --> 00:59:47.200
Who's not

00:59:47.200 --> 00:59:47.540
In this

00:59:47.540 --> 00:59:47.720
Thing

00:59:47.720 --> 00:59:47.920
You

00:59:47.920 --> 00:59:48.260
You've

00:59:48.260 --> 00:59:48.460
Given

00:59:48.460 --> 00:59:48.700
Them

00:59:48.700 --> 00:59:49.300
A military

00:59:49.300 --> 00:59:49.780
Base

00:59:49.780 --> 00:59:50.020
And if

00:59:50.020 --> 00:59:50.280
They have

00:59:50.280 --> 00:59:50.600
A THAT

00:59:50.600 --> 00:59:51.400
Installation

00:59:51.400 --> 00:59:51.920
Boom

00:59:51.920 --> 00:59:52.940
Yeah

00:59:52.940 --> 00:59:53.260
We were

00:59:53.260 --> 00:59:53.680
You know

00:59:53.680 --> 00:59:53.900
So

00:59:53.900 --> 00:59:54.620
So now

00:59:54.620 --> 00:59:56.120
It's kind

00:59:56.120 --> 00:59:56.440
Of funny

00:59:56.440 --> 00:59:56.920
It's like

00:59:56.920 --> 00:59:57.340
The

00:59:57.340 --> 00:59:59.540
The mask

00:59:59.540 --> 01:00:00.120
Is off

01:00:00.120 --> 01:00:02.000
Yes

01:00:02.000 --> 01:00:02.820
You know

01:00:02.820 --> 01:00:03.780
The big

01:00:03.780 --> 01:00:04.340
Companies

01:00:04.340 --> 01:00:04.980
And the

01:00:04.980 --> 01:00:05.380
Allies

01:00:05.380 --> 01:00:05.860
Don't get

01:00:05.860 --> 01:00:06.280
To hide

01:00:06.280 --> 01:00:06.780
Behind the

01:00:06.780 --> 01:00:07.000
Big

01:00:07.000 --> 01:00:07.440
U.S.

01:00:07.620 --> 01:00:08.060
Mask

01:00:08.060 --> 01:00:08.540
Is off

01:00:08.540 --> 01:00:09.240
Right

01:00:09.240 --> 01:00:09.460
Yeah

01:00:09.460 --> 01:00:10.400
Okay

01:00:10.400 --> 01:00:11.280
So the

01:00:11.280 --> 01:00:11.680
Other thing

01:00:11.680 --> 01:00:11.920
That's

01:00:11.920 --> 01:00:12.280
Happened

01:00:12.280 --> 01:00:12.480
Is

01:00:12.480 --> 01:00:12.880
Drones

01:00:12.880 --> 01:00:13.380
And AI

01:00:13.380 --> 01:00:15.800
And drones

01:00:15.800 --> 01:00:16.280
And AI

01:00:16.280 --> 01:00:17.000
Have really

01:00:17.000 --> 01:00:17.660
Changed

01:00:17.660 --> 01:00:18.500
I mean

01:00:18.500 --> 01:00:19.040
If you

01:00:19.040 --> 01:00:19.640
If you look

01:00:19.640 --> 01:00:19.880
At what

01:00:19.880 --> 01:00:20.560
Happened in the

01:00:20.560 --> 01:00:20.940
Ukraine

01:00:20.940 --> 01:00:21.520
With drones

01:00:21.520 --> 01:00:22.040
And AI

01:00:22.040 --> 01:00:22.700
It's really

01:00:22.700 --> 01:00:23.320
Changed

01:00:23.320 --> 01:00:24.300
How war

01:00:24.300 --> 01:00:24.780
Works

01:00:24.780 --> 01:00:25.680
Oh absolutely

01:00:25.680 --> 01:00:26.300
Yeah

01:00:26.300 --> 01:00:27.180
And also

01:00:27.180 --> 01:00:27.520
The

01:00:27.520 --> 01:00:28.320
The Palantir

01:00:28.320 --> 01:00:29.040
Type systems

01:00:29.040 --> 01:00:29.800
Yeah

01:00:29.800 --> 01:00:30.500
Absolutely

01:00:30.500 --> 01:00:31.680
Right

01:00:31.680 --> 01:00:32.100
So

01:00:32.100 --> 01:00:33.800
We're going

01:00:33.800 --> 01:00:34.520
Into a world

01:00:34.520 --> 01:00:35.240
Where war

01:00:35.240 --> 01:00:35.860
Is a very

01:00:35.860 --> 01:00:36.340
Different

01:00:36.340 --> 01:00:36.720
Looking

01:00:36.720 --> 01:00:37.320
Thing

01:00:37.320 --> 01:00:38.080
It's a

01:00:38.080 --> 01:00:38.260
Very

01:00:38.260 --> 01:00:38.600
Different

01:00:38.600 --> 01:00:38.920
Looking

01:00:38.920 --> 01:00:39.340
Thing

01:00:39.340 --> 01:00:39.900
It's

01:00:39.900 --> 01:00:40.640
A lot

01:00:40.640 --> 01:00:41.200
Cheaper

01:00:41.200 --> 01:00:41.780
And

01:00:41.780 --> 01:00:42.400
We've

01:00:42.400 --> 01:00:42.640
Yet

01:00:42.640 --> 01:00:43.660
We have

01:00:43.660 --> 01:00:43.980
Just

01:00:43.980 --> 01:00:45.920
We have

01:00:45.920 --> 01:00:46.140
Yet

01:00:46.140 --> 01:00:46.780
To begin

01:00:46.780 --> 01:00:47.520
To see

01:00:47.520 --> 01:00:48.460
The Russian

01:00:48.460 --> 01:00:49.080
Response

01:00:49.080 --> 01:00:49.980
To the Ukraine

01:00:49.980 --> 01:00:50.580
Use of

01:00:50.580 --> 01:00:51.000
Drones

01:00:51.000 --> 01:00:53.260
Because

01:00:53.260 --> 01:00:53.780
Two can

01:00:53.780 --> 01:00:54.260
Play that

01:00:54.260 --> 01:00:54.720
Game

01:00:54.720 --> 01:00:56.380
And

01:00:56.380 --> 01:00:56.720
What do you

01:00:56.720 --> 01:00:57.120
Think will

01:00:57.120 --> 01:00:57.640
Happen?

01:00:58.400 --> 01:00:58.880
Oh I think

01:00:58.880 --> 01:00:59.380
Russia will

01:00:59.380 --> 01:01:00.020
Start using

01:01:00.020 --> 01:01:00.540
Them on

01:01:00.540 --> 01:01:01.100
A massive

01:01:01.100 --> 01:01:01.580
Scale

01:01:01.580 --> 01:01:02.000
That is

01:01:02.000 --> 01:01:02.280
Going

01:01:02.280 --> 01:01:02.700
To

01:01:02.700 --> 01:01:04.920
It's

01:01:04.920 --> 01:01:05.080
Going

01:01:05.080 --> 01:01:05.220
To

01:01:05.220 --> 01:01:05.520
Spin

01:01:05.520 --> 01:01:06.240
Everybody's

01:01:06.240 --> 01:01:06.580
Head

01:01:06.580 --> 01:01:08.340
Thus

01:01:08.340 --> 01:01:08.760
Far

01:01:08.760 --> 01:01:09.140
Thus

01:01:09.140 --> 01:01:09.400
Far

01:01:09.400 --> 01:01:09.640
It's

01:01:09.640 --> 01:01:09.820
Been

01:01:09.820 --> 01:01:10.420
Primarily

01:01:10.420 --> 01:01:11.080
The Ukraine

01:01:11.080 --> 01:01:11.340
That's

01:01:11.340 --> 01:01:11.500
Been

01:01:11.500 --> 01:01:12.140
Successful

01:01:12.140 --> 01:01:12.400
With

01:01:12.400 --> 01:01:12.560
Their

01:01:12.560 --> 01:01:13.160
Long-term

01:01:13.160 --> 01:01:13.840
Long-range

01:01:13.840 --> 01:01:14.300
Strikes

01:01:14.300 --> 01:01:15.740
And

01:01:15.740 --> 01:01:17.220
You know

01:01:17.220 --> 01:01:17.720
They're

01:01:17.720 --> 01:01:18.140
They're

01:01:18.140 --> 01:01:18.720
Proking

01:01:18.720 --> 01:01:18.960
And

01:01:18.960 --> 01:01:19.360
Proding

01:01:19.360 --> 01:01:19.820
The bear

01:01:19.820 --> 01:01:20.400
Russia

01:01:20.400 --> 01:01:20.780
And

01:01:20.780 --> 01:01:21.460
Sergei

01:01:21.460 --> 01:01:21.880
Lavrov

01:01:21.880 --> 01:01:22.240
Just

01:01:22.240 --> 01:01:22.600
Very

01:01:22.600 --> 01:01:23.220
Recently

01:01:23.220 --> 01:01:24.360
Came

01:01:24.360 --> 01:01:24.580
Out

01:01:24.580 --> 01:01:24.800
With

01:01:24.800 --> 01:01:24.940
A

01:01:24.940 --> 01:01:25.180
Very

01:01:25.180 --> 01:01:25.900
Significant

01:01:25.900 --> 01:01:26.640
Statement

01:01:26.640 --> 01:01:27.820
That

01:01:27.820 --> 01:01:28.240
You know

01:01:28.240 --> 01:01:29.260
Basically

01:01:29.260 --> 01:01:29.840
Russia's

01:01:29.840 --> 01:01:30.180
Done

01:01:30.180 --> 01:01:30.420
With

01:01:30.420 --> 01:01:31.360
Negotiations

01:01:31.360 --> 01:01:31.760
Of

01:01:31.760 --> 01:01:32.140
Any

01:01:32.140 --> 01:01:32.680
Sort

01:01:32.680 --> 01:01:33.940
Not

01:01:33.940 --> 01:01:34.200
Just

01:01:34.200 --> 01:01:34.420
With

01:01:34.420 --> 01:01:34.840
America

01:01:34.840 --> 01:01:35.140
But

01:01:35.140 --> 01:01:35.420
With

01:01:35.420 --> 01:01:35.720
The

01:01:35.720 --> 01:01:36.260
West

01:01:36.260 --> 01:01:38.060
So

01:01:38.060 --> 01:01:38.620
They

01:01:38.620 --> 01:01:39.800
They've

01:01:39.800 --> 01:01:39.940
Been

01:01:39.940 --> 01:01:40.280
Very

01:01:40.280 --> 01:01:40.980
Disciplined

01:01:40.980 --> 01:01:41.500
About

01:01:41.500 --> 01:01:42.140
Only

01:01:42.140 --> 01:01:43.240
Cleaning

01:01:43.240 --> 01:01:43.460
Up

01:01:43.460 --> 01:01:43.620
The

01:01:43.620 --> 01:01:43.940
Special

01:01:43.940 --> 01:01:44.480
Operation

01:01:44.480 --> 01:01:44.720
They

01:01:44.720 --> 01:01:45.180
Defined

01:01:45.180 --> 01:01:45.420
The

01:01:45.420 --> 01:01:45.960
Territory

01:01:45.960 --> 01:01:46.140
They

01:01:46.140 --> 01:01:46.280
Were

01:01:46.280 --> 01:01:46.400
Going

01:01:46.400 --> 01:01:46.480
To

01:01:46.480 --> 01:01:46.660
Take

01:01:46.660 --> 01:01:47.320
Responsibility

01:01:47.320 --> 01:01:47.740
For

01:01:47.740 --> 01:01:48.660
Protect

01:01:48.660 --> 01:01:48.940
The

01:01:48.940 --> 01:01:49.300
Russian

01:01:49.300 --> 01:01:49.740
Sort

01:01:49.740 --> 01:01:49.940
Of

01:01:49.940 --> 01:01:50.880
Speaking

01:01:50.880 --> 01:01:51.700
Population

01:01:51.700 --> 01:01:52.600
And

01:01:52.600 --> 01:01:52.780
They

01:01:52.780 --> 01:01:53.020
Have

01:01:53.020 --> 01:01:53.320
Not

01:01:53.320 --> 01:01:53.780
Feared

01:01:53.780 --> 01:01:54.740
I

01:01:54.740 --> 01:01:54.920
Mean

01:01:54.920 --> 01:01:55.400
They

01:01:55.400 --> 01:01:55.700
Are

01:01:55.700 --> 01:01:56.620
Still

01:01:56.620 --> 01:01:57.340
Moving

01:01:57.340 --> 01:01:57.560
To

01:01:57.560 --> 01:01:57.820
Clean

01:01:57.820 --> 01:01:58.040
That

01:01:58.040 --> 01:01:58.280
Up

01:01:58.280 --> 01:01:58.780
I

01:01:58.780 --> 01:01:59.020
Thought

01:01:59.020 --> 01:01:59.260
They'd

01:01:59.260 --> 01:01:59.520
Start

01:01:59.520 --> 01:01:59.820
Headed

01:01:59.820 --> 01:02:00.040
For

01:02:00.040 --> 01:02:00.540
Odessa

01:02:00.540 --> 01:02:00.760
But

01:02:00.760 --> 01:02:00.920
They

01:02:00.920 --> 01:02:01.360
Haven't

01:02:01.360 --> 01:02:02.680
I

01:02:02.680 --> 01:02:03.460
Suspect

01:02:03.460 --> 01:02:04.000
That

01:02:04.000 --> 01:02:04.440
If

01:02:04.440 --> 01:02:04.600
If

01:02:04.600 --> 01:02:05.140
This

01:02:05.140 --> 01:02:05.480
Keeps

01:02:05.480 --> 01:02:05.840
Going

01:02:05.840 --> 01:02:06.360
My

01:02:06.360 --> 01:02:06.900
Point

01:02:06.900 --> 01:02:07.100
In

01:02:07.100 --> 01:02:07.560
Raising

01:02:07.560 --> 01:02:07.900
This

01:02:07.900 --> 01:02:08.180
Was

01:02:08.180 --> 01:02:08.360
That

01:02:08.360 --> 01:02:08.560
If

01:02:08.560 --> 01:02:08.780
This

01:02:08.780 --> 01:02:09.080
Keeps

01:02:09.080 --> 01:02:09.620
Going

01:02:09.620 --> 01:02:10.800
Iran

01:02:10.800 --> 01:02:11.660
And

01:02:11.660 --> 01:02:11.960
Its

01:02:11.960 --> 01:02:12.560
Behavior

01:02:12.560 --> 01:02:13.080
In

01:02:13.080 --> 01:02:13.400
This

01:02:13.400 --> 01:02:14.040
War

01:02:14.040 --> 01:02:15.120
I

01:02:15.120 --> 01:02:15.440
Don't

01:02:15.440 --> 01:02:15.700
Think

01:02:15.700 --> 01:02:16.280
Iran

01:02:16.280 --> 01:02:16.500
Would

01:02:16.500 --> 01:02:16.640
Have

01:02:16.640 --> 01:02:17.320
Responded

01:02:17.320 --> 01:02:17.640
As

01:02:17.640 --> 01:02:17.840
It

01:02:17.840 --> 01:02:18.540
Did

01:02:18.540 --> 01:02:19.520
Without

01:02:19.520 --> 01:02:19.860
A

01:02:19.860 --> 01:02:20.180
Wink

01:02:20.180 --> 01:02:20.340
And

01:02:20.340 --> 01:02:20.520
A

01:02:20.520 --> 01:02:20.820
Nod

01:02:20.820 --> 01:02:21.080
From

01:02:21.080 --> 01:02:21.620
Moscow

01:02:21.620 --> 01:02:21.900
And

01:02:21.900 --> 01:02:22.260
Beijing

01:02:22.260 --> 01:02:24.480
So

01:02:24.480 --> 01:02:24.640
In

01:02:24.640 --> 01:02:24.800
Other

01:02:24.800 --> 01:02:25.140
Words

01:02:25.140 --> 01:02:26.040
That

01:02:26.040 --> 01:02:26.380
Was

01:02:26.380 --> 01:02:26.840
That

01:02:26.840 --> 01:02:27.060
Was

01:02:27.060 --> 01:02:27.320
The

01:02:27.320 --> 01:02:27.900
Warning

01:02:27.900 --> 01:02:28.160
To

01:02:28.160 --> 01:02:28.360
The

01:02:28.360 --> 01:02:28.720
West

01:02:28.720 --> 01:02:28.940
If

01:02:28.940 --> 01:02:29.060
You

01:02:29.060 --> 01:02:29.340
Keep

01:02:29.340 --> 01:02:29.780
Doing

01:02:29.780 --> 01:02:30.340
This

01:02:30.340 --> 01:02:31.540
We're

01:02:31.540 --> 01:02:31.880
Taking

01:02:31.880 --> 01:02:32.120
The

01:02:32.120 --> 01:02:32.540
Gloves

01:02:32.540 --> 01:02:32.920
Off

01:02:32.920 --> 01:02:34.140
Drones

01:02:34.140 --> 01:02:34.400
Could

01:02:34.400 --> 01:02:34.720
Start

01:02:34.720 --> 01:02:35.320
Appearing

01:02:35.320 --> 01:02:35.920
Over

01:02:35.920 --> 01:02:37.060
The

01:02:37.060 --> 01:02:37.980
Ziegus

01:02:37.980 --> 01:02:38.300
Ale

01:02:38.300 --> 01:02:38.960
In Berlin

01:02:38.960 --> 01:02:39.540
Or

01:02:39.540 --> 01:02:39.760
The

01:02:39.760 --> 01:02:40.120
Champs

01:02:40.120 --> 01:02:40.580
Elyse

01:02:40.580 --> 01:02:41.400
In Paris

01:02:41.400 --> 01:02:42.480
And

01:02:42.480 --> 01:02:43.160
Cause

01:02:43.160 --> 01:02:43.500
A lot

01:02:43.500 --> 01:02:43.620
Of

01:02:43.620 --> 01:02:44.340
Problems

01:02:44.340 --> 01:02:44.900
For

01:02:44.900 --> 01:02:44.920
For

01:02:44.920 --> 01:02:45.340
For

01:02:45.340 --> 01:02:45.520
The

01:02:45.520 --> 01:02:45.940
West

01:02:45.940 --> 01:02:47.440
And

01:02:47.440 --> 01:02:48.520
Quite

01:02:48.520 --> 01:02:49.060
Frankly

01:02:49.060 --> 01:02:49.440
The

01:02:49.440 --> 01:02:49.740
Way

01:02:49.740 --> 01:02:49.960
That

01:02:49.960 --> 01:02:50.140
We

01:02:50.140 --> 01:02:50.380
Have

01:02:50.380 --> 01:02:50.600
Been

01:02:50.600 --> 01:02:51.040
Doing

01:02:51.040 --> 01:02:51.820
Things

01:02:51.820 --> 01:02:52.220
You

01:02:52.220 --> 01:02:52.420
Know

01:02:52.420 --> 01:02:52.700
With

01:02:52.700 --> 01:02:52.900
The

01:02:52.900 --> 01:02:53.320
Iranian

01:02:53.320 --> 01:02:53.840
Bio

01:02:53.840 --> 01:02:54.360
Labs

01:02:54.360 --> 01:02:54.720
And

01:02:54.720 --> 01:02:55.140
The

01:02:55.140 --> 01:02:55.560
Bases

01:02:55.560 --> 01:02:56.020
Against

01:02:56.020 --> 01:02:56.480
Iran

01:02:56.480 --> 01:02:58.640
Can

01:02:58.640 --> 01:02:58.800
You

01:02:58.800 --> 01:02:59.100
Blame

01:02:59.100 --> 01:02:59.400
Them

01:02:59.400 --> 01:03:00.700
So

01:03:00.700 --> 01:03:01.280
I

01:03:01.280 --> 01:03:04.020
There

01:03:04.020 --> 01:03:04.200
Was

01:03:04.200 --> 01:03:04.380
A

01:03:04.380 --> 01:03:04.640
One

01:03:04.640 --> 01:03:05.280
Report

01:03:05.280 --> 01:03:05.980
The

01:03:05.980 --> 01:03:06.720
The

01:03:06.720 --> 01:03:07.040
Russians

01:03:07.040 --> 01:03:07.520
Attack

01:03:07.520 --> 01:03:08.200
To Ukrainian

01:03:08.200 --> 01:03:08.820
Government

01:03:08.820 --> 01:03:09.380
Website

01:03:09.380 --> 01:03:09.940
Yes

01:03:09.940 --> 01:03:10.620
And

01:03:10.620 --> 01:03:11.400
Discovered

01:03:11.400 --> 01:03:11.720
That

01:03:11.720 --> 01:03:11.920
The

01:03:11.920 --> 01:03:12.320
Death

01:03:12.320 --> 01:03:12.820
Toll

01:03:12.820 --> 01:03:13.400
Of

01:03:13.400 --> 01:03:13.400
Of

01:03:13.400 --> 01:03:14.400
Ukrainian

01:03:14.400 --> 01:03:15.160
Soldiers

01:03:15.160 --> 01:03:15.940
Was

01:03:15.940 --> 01:03:16.640
2.4

01:03:16.640 --> 01:03:16.980
Million

01:03:16.980 --> 01:03:17.940
Yes

01:03:17.940 --> 01:03:18.220
Did you

01:03:18.220 --> 01:03:18.480
See

01:03:18.480 --> 01:03:18.800
That

01:03:18.800 --> 01:03:19.400
I

01:03:19.400 --> 01:03:19.680
Saw

01:03:19.680 --> 01:03:20.000
That

01:03:20.000 --> 01:03:20.800
Do

01:03:20.800 --> 01:03:20.880
You

01:03:20.880 --> 01:03:21.040
Think

01:03:21.040 --> 01:03:21.220
It's

01:03:21.220 --> 01:03:21.760
Legitimate

01:03:21.760 --> 01:03:22.200
Oh

01:03:22.200 --> 01:03:22.360
I

01:03:22.360 --> 01:03:22.620
Do

01:03:22.620 --> 01:03:23.200
I

01:03:23.200 --> 01:03:23.540
Do

01:03:23.540 --> 01:03:24.700
There's

01:03:24.700 --> 01:03:25.160
Catherine

01:03:25.160 --> 01:03:25.480
There's

01:03:25.480 --> 01:03:25.760
No

01:03:25.760 --> 01:03:26.220
Way

01:03:26.220 --> 01:03:26.580
This

01:03:26.580 --> 01:03:26.880
This

01:03:26.880 --> 01:03:27.020
Is

01:03:27.020 --> 01:03:27.200
The

01:03:27.200 --> 01:03:27.560
Problem

01:03:27.560 --> 01:03:27.820
The

01:03:27.820 --> 01:03:28.200
West

01:03:28.200 --> 01:03:28.420
Is

01:03:28.420 --> 01:03:29.060
We're

01:03:29.060 --> 01:03:29.460
Seeing

01:03:29.460 --> 01:03:29.820
We're

01:03:29.820 --> 01:03:30.300
Seeing

01:03:30.300 --> 01:03:30.640
The

01:03:30.640 --> 01:03:31.200
The

01:03:31.200 --> 01:03:32.460
The

01:03:32.460 --> 01:03:33.420
Propaganda

01:03:33.420 --> 01:03:34.420
Pattern

01:03:34.420 --> 01:03:34.920
With

01:03:34.920 --> 01:03:35.480
Iran

01:03:35.480 --> 01:03:37.720
Every

01:03:37.720 --> 01:03:38.300
Time

01:03:38.300 --> 01:03:39.120
We have

01:03:39.120 --> 01:03:39.320
A

01:03:39.320 --> 01:03:40.020
Successful

01:03:40.020 --> 01:03:40.400
Strike

01:03:40.400 --> 01:03:40.600
And

01:03:40.600 --> 01:03:40.940
And

01:03:40.940 --> 01:03:41.520
And

01:03:41.520 --> 01:03:41.760
This

01:03:41.760 --> 01:03:42.160
This

01:03:42.160 --> 01:03:42.660
Pattern

01:03:42.660 --> 01:03:43.040
I hope

01:03:43.040 --> 01:03:43.340
People

01:03:43.340 --> 01:03:43.560
Have

01:03:43.560 --> 01:03:43.800
Really

01:03:43.800 --> 01:03:44.120
Sat

01:03:44.120 --> 01:03:44.300
Up

01:03:44.300 --> 01:03:44.460
And

01:03:44.460 --> 01:03:44.940
Noticed

01:03:44.940 --> 01:03:46.460
Because

01:03:46.460 --> 01:03:47.120
We hear

01:03:47.120 --> 01:03:47.420
About

01:03:47.420 --> 01:03:47.900
All the

01:03:47.900 --> 01:03:48.280
Military

01:03:48.280 --> 01:03:49.140
Successes

01:03:49.140 --> 01:03:49.640
We hear

01:03:49.640 --> 01:03:50.600
Absolutely

01:03:50.600 --> 01:03:51.580
Nothing

01:03:51.580 --> 01:03:52.640
In

01:03:52.640 --> 01:03:52.920
This

01:03:52.920 --> 01:03:53.420
Country

01:03:53.420 --> 01:03:54.600
About

01:03:54.600 --> 01:03:54.900
The

01:03:54.900 --> 01:03:55.440
Iranian

01:03:55.440 --> 01:03:56.420
Successes

01:03:56.420 --> 01:03:56.720
Every

01:03:56.720 --> 01:03:57.000
Now

01:03:57.000 --> 01:03:57.100
And

01:03:57.100 --> 01:03:57.260
Then

01:03:57.260 --> 01:03:57.600
Something

01:03:57.600 --> 01:03:57.920
Might

01:03:57.920 --> 01:03:58.340
Trickle

01:03:58.340 --> 01:03:58.620
Through

01:03:58.620 --> 01:03:58.940
From

01:03:58.940 --> 01:03:59.580
Israel

01:03:59.580 --> 01:04:00.020
Where

01:04:00.020 --> 01:04:00.600
Iranian

01:04:00.600 --> 01:04:01.100
Missiles

01:04:01.100 --> 01:04:01.280
Have

01:04:01.280 --> 01:04:01.580
Taken

01:04:01.580 --> 01:04:01.820
Out

01:04:01.820 --> 01:04:02.080
This

01:04:02.080 --> 01:04:02.220
Or

01:04:02.220 --> 01:04:02.420
That

01:04:02.420 --> 01:04:03.060
Facility

01:04:03.060 --> 01:04:04.020
But

01:04:04.020 --> 01:04:04.540
We hear

01:04:04.540 --> 01:04:05.120
Basically

01:04:05.120 --> 01:04:05.660
Nothing

01:04:05.660 --> 01:04:06.760
Right

01:04:06.760 --> 01:04:07.220
And

01:04:07.220 --> 01:04:07.480
This

01:04:07.480 --> 01:04:07.680
Is

01:04:07.680 --> 01:04:08.260
Exactly

01:04:08.260 --> 01:04:08.560
The

01:04:08.560 --> 01:04:08.840
Same

01:04:08.840 --> 01:04:09.100
Thing

01:04:09.100 --> 01:04:09.260
That

01:04:09.260 --> 01:04:09.480
Has

01:04:09.480 --> 01:04:09.880
Happened

01:04:09.880 --> 01:04:10.120
In

01:04:10.120 --> 01:04:10.300
The

01:04:10.300 --> 01:04:10.760
Ukraine

01:04:10.760 --> 01:04:11.800
Because

01:04:11.800 --> 01:04:12.180
We've

01:04:12.180 --> 01:04:12.400
Heard

01:04:12.400 --> 01:04:13.100
Nothing

01:04:13.100 --> 01:04:14.360
Really

01:04:14.360 --> 01:04:15.000
About

01:04:15.000 --> 01:04:15.240
The

01:04:15.240 --> 01:04:15.720
Ukrainian

01:04:15.720 --> 01:04:16.440
Casualties

01:04:16.440 --> 01:04:16.720
We're

01:04:16.720 --> 01:04:17.000
Hearing

01:04:17.000 --> 01:04:17.300
All

01:04:17.300 --> 01:04:17.660
Sorts

01:04:17.660 --> 01:04:17.820
Of

01:04:17.820 --> 01:04:18.100
Stuff

01:04:18.100 --> 01:04:18.360
About

01:04:18.360 --> 01:04:18.580
How

01:04:18.580 --> 01:04:18.800
The

01:04:18.800 --> 01:04:19.160
Russians

01:04:19.160 --> 01:04:19.440
Are

01:04:19.440 --> 01:04:19.940
Suffering

01:04:19.940 --> 01:04:21.000
But

01:04:21.000 --> 01:04:21.420
Nothing

01:04:21.420 --> 01:04:21.680
At

01:04:21.680 --> 01:04:21.920
All

01:04:21.920 --> 01:04:22.240
And

01:04:22.240 --> 01:04:22.520
And

01:04:22.520 --> 01:04:23.120
And

01:04:23.120 --> 01:04:23.340
This

01:04:23.340 --> 01:04:23.580
Has

01:04:23.580 --> 01:04:24.040
Created

01:04:24.040 --> 01:04:24.420
This

01:04:24.420 --> 01:04:25.560
Delusion

01:04:25.560 --> 01:04:26.880
In

01:04:26.880 --> 01:04:27.080
The

01:04:27.080 --> 01:04:27.420
West

01:04:27.420 --> 01:04:27.740
That

01:04:27.740 --> 01:04:28.000
The

01:04:28.000 --> 01:04:28.480
Ukraine

01:04:28.480 --> 01:04:28.760
Is

01:04:28.760 --> 01:04:29.100
Winning

01:04:29.100 --> 01:04:29.420
That

01:04:29.420 --> 01:04:29.820
War

01:04:29.820 --> 01:04:30.320
No

01:04:30.320 --> 01:04:30.800
That

01:04:30.800 --> 01:04:31.420
Country

01:04:31.420 --> 01:04:31.760
Is

01:04:31.760 --> 01:04:32.200
Literally

01:04:32.200 --> 01:04:32.820
Committing

01:04:32.820 --> 01:04:33.820
Suicide

01:04:33.820 --> 01:04:34.460
Well

01:04:34.460 --> 01:04:34.920
For

01:04:34.920 --> 01:04:35.160
The

01:04:35.160 --> 01:04:35.620
West

01:04:35.620 --> 01:04:36.440
I've

01:04:36.440 --> 01:04:36.660
Thought

01:04:36.660 --> 01:04:36.840
The

01:04:36.840 --> 01:04:37.080
Goal

01:04:37.080 --> 01:04:37.540
Always

01:04:37.540 --> 01:04:37.800
Was

01:04:37.800 --> 01:04:37.980
To

01:04:37.980 --> 01:04:38.360
Cleanse

01:04:38.360 --> 01:04:38.520
It

01:04:38.520 --> 01:04:38.780
Out

01:04:38.780 --> 01:04:39.060
So

01:04:39.060 --> 01:04:39.820
You

01:04:39.820 --> 01:04:40.000
Could

01:04:40.000 --> 01:04:40.220
Bring

01:04:40.220 --> 01:04:40.380
In

01:04:40.380 --> 01:04:40.540
New

01:04:40.540 --> 01:04:40.940
People

01:04:40.940 --> 01:04:41.880
So

01:04:41.880 --> 01:04:42.120
I

01:04:42.120 --> 01:04:42.300
Want

01:04:42.300 --> 01:04:42.440
To

01:04:42.440 --> 01:04:42.920
The

01:04:42.920 --> 01:04:43.160
One

01:04:43.160 --> 01:04:43.380
Thing

01:04:43.380 --> 01:04:43.540
That

01:04:43.540 --> 01:04:43.700
Is

01:04:43.700 --> 01:04:44.040
Different

01:04:44.040 --> 01:04:44.320
This

01:04:44.320 --> 01:04:44.660
Time

01:04:44.660 --> 01:04:45.600
Is

01:04:45.600 --> 01:04:45.840
The

01:04:45.840 --> 01:04:46.480
Uranians

01:04:46.480 --> 01:04:46.660
Have

01:04:46.660 --> 01:04:46.960
Started

01:04:46.960 --> 01:04:47.200
To

01:04:47.200 --> 01:04:47.500
Learn

01:04:47.500 --> 01:04:47.740
How

01:04:47.740 --> 01:04:47.860
To

01:04:47.860 --> 01:04:48.180
Play

01:04:48.180 --> 01:04:48.420
The

01:04:48.420 --> 01:04:48.720
Media

01:04:48.720 --> 01:04:49.120
Game

01:04:49.120 --> 01:04:49.720
Yes

01:04:49.720 --> 01:04:49.800
I

01:04:49.800 --> 01:04:49.980
Want

01:04:49.980 --> 01:04:50.000
To

01:04:50.000 --> 01:04:50.340
Skip

01:04:50.340 --> 01:04:50.740
Ahead

01:04:50.740 --> 01:04:50.980
And

01:04:50.980 --> 01:04:51.240
Show

01:04:51.240 --> 01:04:51.540
You

01:04:51.540 --> 01:04:53.000
Remember

01:04:53.000 --> 01:04:53.360
When

01:04:53.360 --> 01:04:53.840
They

01:04:53.840 --> 01:04:54.320
Said

01:04:54.320 --> 01:04:54.480
They

01:04:54.480 --> 01:04:54.620
Were

01:04:54.620 --> 01:04:54.960
Going

01:04:54.960 --> 01:04:55.260
In

01:04:55.260 --> 01:04:55.480
To

01:04:55.480 --> 01:04:55.860
Grab

01:04:55.860 --> 01:04:56.080
The

01:04:56.080 --> 01:04:56.640
Uranium

01:04:56.640 --> 01:04:57.440
Enrichment

01:04:57.440 --> 01:04:57.660
And

01:04:57.660 --> 01:04:57.800
The

01:04:57.800 --> 01:04:58.120
Whole

01:04:58.120 --> 01:04:58.940
Thing

01:04:58.940 --> 01:04:59.420
Failed

01:04:59.420 --> 01:05:00.080
Yes

01:05:00.080 --> 01:05:00.240
The

01:05:00.240 --> 01:05:00.760
Iranians

01:05:00.760 --> 01:05:01.040
Put

01:05:01.040 --> 01:05:01.260
Out

01:05:01.260 --> 01:05:01.560
This

01:05:01.560 --> 01:05:02.200
This

01:05:02.200 --> 01:05:02.540
Video

01:05:02.540 --> 01:05:02.720
And

01:05:02.720 --> 01:05:02.820
I

01:05:02.820 --> 01:05:02.960
Want

01:05:02.960 --> 01:05:03.060
To

01:05:03.060 --> 01:05:03.340
Show

01:05:03.340 --> 01:05:03.500
It

01:05:03.500 --> 01:05:03.700
Just

01:05:03.700 --> 01:05:03.880
To

01:05:03.880 --> 01:05:04.160
Show

01:05:04.160 --> 01:05:04.520
You

01:05:04.520 --> 01:05:05.620
It's

01:05:05.620 --> 01:05:05.740
An

01:05:05.740 --> 01:05:06.360
Example

01:05:06.360 --> 01:05:06.660
Of

01:05:06.660 --> 01:05:07.000
How

01:05:07.000 --> 01:05:07.440
The

01:05:07.440 --> 01:05:08.240
Iranians

01:05:08.240 --> 01:05:08.440
Are

01:05:08.440 --> 01:05:08.680
Now

01:05:08.680 --> 01:05:09.020
Playing

01:05:09.020 --> 01:05:09.220
The

01:05:09.220 --> 01:05:09.480
Media

01:05:09.480 --> 01:05:09.780
Game

01:05:09.780 --> 01:05:10.040
So

01:05:10.040 --> 01:05:10.460
Let's

01:05:10.460 --> 01:05:10.660
Look

01:05:10.660 --> 01:05:11.060
At

01:05:11.060 --> 01:05:11.500
Video

01:05:11.500 --> 01:05:11.740
Number

01:05:11.740 --> 01:05:12.120
Seven

01:05:12.120 --> 01:05:12.540
Justin

01:05:12.540 --> 01:05:14.920
Yeah

01:05:14.920 --> 01:05:44.900
Oh, God.

01:05:44.920 --> 01:06:14.900
Oh, God.

01:06:14.920 --> 01:06:44.900
Oh, God.

01:06:44.920 --> 01:06:51.920
Oh, God.

01:07:14.920 --> 01:07:27.320
Oh, God.

01:07:27.320 --> 01:07:28.080
Oh, wow.

01:07:28.640 --> 01:07:29.240
Right.

01:07:29.540 --> 01:07:42.020
So, the media game shifted because if you look at how this has been, the other side has not been able to reach, anybody, really.

01:07:42.020 --> 01:07:45.000
And suddenly we started to see these videos come out.

01:07:45.120 --> 01:07:51.460
And, of course, it was constantly referring to the people in the United States leading the Iran war as the Epstein class.

01:07:51.720 --> 01:07:52.200
Yes.

01:07:52.600 --> 01:07:54.440
So, very effective technique.

01:07:54.440 --> 01:08:09.400
It's very effective and it's effective in another way in that they were reminding people of all the times that Trump has said, well, their air force has been wiped out, their navy's sunk, we've wiped out their military, they don't have a military.

01:08:09.840 --> 01:08:14.560
Well, okay, then how are they shooting things down, you know?

01:08:15.380 --> 01:08:20.240
So, Justin, I want to go look at the chart at the top of story number two on the website.

01:08:21.300 --> 01:08:26.580
So, this was the astonishing comparison.

01:08:26.800 --> 01:08:35.320
If you look, if you go back to the first Trump administration, Trump was adamant that Obama had made a bad deal and then he canceled the deal.

01:08:36.200 --> 01:08:46.180
Okay, and then if you look at where we are now, if we just kept the Obama deal, we'd be much better off.

01:08:46.540 --> 01:08:46.840
-.

01:08:47.340 --> 01:08:47.640
Right.

01:08:48.000 --> 01:09:04.800
So, what he's managed to do is to cancel a deal and then after, hundreds of billions of dollars of war, we have something that's worse based on the last ceasefire, which has now been canceled.

01:09:05.160 --> 01:09:05.420
Yep.

01:09:05.600 --> 01:09:06.240
Right.

01:09:06.380 --> 01:09:19.120
Now, the big question to me is the $300 billion of quote-unquote private investment, is that conditioned on them adopting the distributed ledger infrastructure that they need to integrate them in?

01:09:20.060 --> 01:09:21.480
Yeah, we were never told.

01:09:22.460 --> 01:09:22.780
Right.

01:09:23.000 --> 01:09:25.620
We have not been told, and that's a key point.

01:09:25.980 --> 01:09:26.700
Yeah, absolutely.

01:09:27.600 --> 01:09:27.900
Right.

01:09:28.640 --> 01:09:33.600
So, but that deal is busted anyway.

01:09:33.600 --> 01:09:38.880
So, now, so I want to keep coming back to this change in the military model.

01:09:39.700 --> 01:09:47.660
The biggest change in the military model to be, there are two issues here.

01:09:47.780 --> 01:09:56.180
One is the Gulf as a financial center, but the other as the U.S. Military as being part of sovereign government.

01:09:56.340 --> 01:09:59.260
So, let's see if we can play video six, Justin.

01:09:59.960 --> 01:10:09.220
This is Ro Khanna, a congressman from California, who's been trying to stop Section 224 of the National Defense Authorization Bill.

01:10:09.420 --> 01:10:11.320
Okay, here's, so here's Ro Khanna.

01:10:14.120 --> 01:10:19.420
Thomas Massey and I are teaming up again to remove Section 224 from our defense bill.

01:10:19.920 --> 01:10:25.740
Section 224 is a first step in integrating our military with Israel's military.

01:10:26.280 --> 01:10:32.820
I'm a senior member of the Armed Services Committee and I will be introducing an amendment to remove Section 224.

01:10:33.320 --> 01:10:37.860
Basically, the establishment has figured out that direct aid to Israel is unpopular.

01:10:38.320 --> 01:10:42.400
So they want to do an end run around the foreign sales process.

01:10:42.820 --> 01:10:47.680
The foreign sales at least requires a commitment to upholding human rights.

01:10:47.820 --> 01:10:52.880
Under this section, you would have a fusion of the United States and Israel military.

01:10:53.280 --> 01:10:56.720
So there's no human rights test and no vote on aid.

01:10:57.060 --> 01:10:59.800
We need to strip Section 224.

01:11:00.860 --> 01:11:01.620
Hear.

01:11:01.800 --> 01:11:12.160
Okay, so I don't know if you've seen this, but Wilkerson claims that when he was chief of staff to Powell at the Joint Chiefs and Rumsfeld was the secretary,

01:11:12.380 --> 01:11:19.380
Rumsfeld was constantly complaining that the Israelis controlled the Pentagon, not him, because they had a free run of the building.

01:11:19.380 --> 01:11:20.060
Yep.

01:11:20.740 --> 01:11:32.600
So now we're talking about basically giving them control or partnership control of a budget that is completely outside of the financial management laws.

01:11:33.140 --> 01:11:35.300
So we have trillions of dollars going through.

01:11:35.860 --> 01:11:39.700
We have secret financials because of FASB-56.

01:11:40.220 --> 01:11:40.440
Yep.

01:11:40.620 --> 01:11:42.160
Trillions of dollars disappearing.

01:11:42.660 --> 01:11:45.700
And this basically gives them control of all the money in the world.

01:11:46.160 --> 01:11:46.500
Yes.

01:11:46.980 --> 01:11:47.240
Right.

01:11:47.420 --> 01:11:47.580
Yeah.

01:11:47.580 --> 01:11:51.840
So they stop being a country of seven million people and they control all the money in the world.

01:11:52.400 --> 01:11:52.620
Yeah.

01:11:53.140 --> 01:11:53.380
Right.

01:11:53.380 --> 01:11:56.680
They basically made us their colony.

01:11:57.840 --> 01:11:58.480
Yeah.

01:11:59.100 --> 01:12:00.260
That's all it is.

01:12:01.020 --> 01:12:04.960
I cannot tell you how outraged I am.

01:12:05.800 --> 01:12:11.160
The good news, if there is any in this, is that they are having to do it.

01:12:12.220 --> 01:12:22.340
Because the old model is clearly, Netanyahu shot that and has ended the old model forever.

01:12:23.080 --> 01:12:29.500
We're going to talk in story number seven, we're going to talk about how the holocausters are moving everywhere.

01:12:30.020 --> 01:12:30.520
Yeah.

01:12:31.140 --> 01:12:37.460
So one, another big issue on the model of the war is the Gulf Financial Centers.

01:12:37.720 --> 01:12:47.420
My theory has always been that the Gulf was a way that the Western economies could trade with Eastern economies and keep a lot secret.

01:12:48.320 --> 01:12:48.340
Right.

01:12:48.400 --> 01:12:52.600
It was sort of a way station for a lot of stuff going on.

01:12:52.740 --> 01:12:57.020
So let's see if we can look at video eight, Justin.

01:12:57.720 --> 01:13:03.460
This is Simon Dixon just, basically describing this role of the Gulf.

01:13:04.160 --> 01:13:25.040
If you want to transition to a world of multipolarity, the Middle East becomes effectively a go-between, a financial go-between China-led BRICS SEO blocks and America as a regional power that dominates Europe and the Western Hemisphere.

01:13:26.300 --> 01:13:33.120
But private corporate interests dominated by those three factions of private corporate power, MC, FIC, and TIC.

01:13:34.420 --> 01:13:44.360
And so FIC aligned with the Gulf Sovereign Wealth Funds, which are predominantly funded by energy purchases from China.

01:13:45.100 --> 01:13:51.600
So transnational capital, you have the financial industrial complex, which is hosted in New York,

01:13:51.940 --> 01:14:00.920
The stock market, the bond market, London factions like the insurance market, the FX markets, the derivative markets,

01:14:01.420 --> 01:14:09.940
The Swiss Bank for International Settlements, but all the liquidity is on New York, in the New York Stock Exchange and Nasdaq.

01:14:10.500 --> 01:14:17.580
And so that faction co-opted the Gulf Sovereign Wealth Funds, i.e. You get to joint invest in every deal.

01:14:18.020 --> 01:14:28.880
But because they are trade surplus countries, and America is world reserve currency, the dollar becomes a vehicle for asset stripping the West.

01:14:29.840 --> 01:14:39.320
And then you have to partner with those that maintain their energy and are able to have large sovereign wealth funds who end up purchasing all the assets.

01:14:39.880 --> 01:14:42.900
And as they purchase more and more assets, they exert more control.

01:14:43.140 --> 01:14:50.560
Foreign direct investment is the vehicle for exerting control in the financial-industrial complex, assets under administration.

01:14:51.480 --> 01:14:55.980
But it is all backed up by the largest manufacturing base in the world, which is China.

01:14:56.520 --> 01:15:03.580
And so that creates an informal allegiance of capital, which can dictate the flow of funds globally.

01:15:04.660 --> 01:15:07.180
And the other part of that is energy.

01:15:09.000 --> 01:15:24.180
So it's amazing, it's remarkable how much the Gulf Sovereign Wealth Funds have been part of, of coming into the United States and basically, rounding up a lot of assets.

01:15:24.480 --> 01:15:27.080
They're an intermediate in this game.

01:15:27.160 --> 01:15:34.600
And so I want to show you, one of our stories in this section is on the Trump family grift, which is just unbelievable.

01:15:34.600 --> 01:15:43.320
But I wanted to show you know, because the Gulf Financial Center, as this war has been going on, they are definitely in the middle.

01:15:43.680 --> 01:15:48.480
So, for example, the UAE is the primary trading partner with Iran.

01:15:48.880 --> 01:15:50.820
And meantime, Iran's bombing it.

01:15:50.880 --> 01:15:54.240
You've got to be pretty brave to bomb your bankers, is why.

01:15:54.240 --> 01:16:03.840
But let's watch video number nine to just remind us of this little game of plundering the West with the sovereign wealth funds.

01:16:04.600 --> 01:16:14.700
Soon after Trump's first term ended, Jared Kushner moved to Florida.

01:16:15.120 --> 01:16:20.300
Basically two days after the election, Jared Kushner woke up and told Ivanka, hey, we're moving to Miami.

01:16:20.800 --> 01:16:26.460
Ivanka Trump and Jared Kushner purchased a two-acre waterfront lot for $32 million.

01:16:27.160 --> 01:16:31.040
Indian Creek Island is the most expensive neighborhood in America.

01:16:31.880 --> 01:16:35.840
And here he established a new company, Affinity Partners.

01:16:37.480 --> 01:16:47.080
What surprised me was that instead of going back into real estate, Jared Kushner went into a new business, which is private equity, quite a lucrative business.

01:16:47.360 --> 01:16:55.760
And his first step was reaching out to Crown Prince Mohammed bin Salman to help fund his new private equity business.

01:16:57.260 --> 01:17:04.100
Initially, the board overseeing Saudi Arabia's investments through the Kingdom's Public Investment Fund was reluctant.

01:17:05.060 --> 01:17:13.220
The advisory committee, who are the leading lights of the Saudi investment world, as well as a couple of international businessmen that they've brought in, thought that it was a bad idea.

01:17:14.600 --> 01:17:23.300
Why would this massive fund that has access to every investment organization in the world look at the landscape and say,

01:17:23.640 --> 01:17:31.800
Let's go with this young fellow who's never really done this kind of work before, and let's put $2 billion in his pocket and see what he can do with it.

01:17:33.640 --> 01:17:35.600
Oh, Catherine, where do I begin?

01:17:44.100 --> 01:18:10.020
I knew we were in trouble a couple of days after the election when he, when Mr. Trump, or pardon me, not after the election, after the inauguration, when he started signing all these executive orders, and one of the first things he does is he sets up this so-called sovereign wealth fund and then made it very clear that part of the assets that were going to go into the sovereign wealth fund were going to be kleptocurrencies.

01:18:12.100 --> 01:18:20.080
I thought, okay, that's it with me, sorry, I'm no longer part of your MAGA crowd here.

01:18:20.160 --> 01:18:33.960
So we could do a whole interview on Trump family cryptograph, but before we dive into that, we'll look at Trump grift in a second, but before we dive in and look at that, I want to talk about the energy model.

01:18:33.960 --> 01:18:59.660
Because we have seen dramatic developments in nuclear modular fusion, and no one knows better than you or my wonderful colleague, Jeroen von Stratton and Robert here in the Netherlands, that breakthrough energy, dramatically lower expense energy has been available for more than a century, at least, if not before.

01:19:00.020 --> 01:19:05.540
And one of the questions we've asked for many years is, well, when are they going to bring it out?

01:19:06.440 --> 01:19:12.220
The cost of, the cost of energy is up here. We know they can bruise down here.

01:19:12.560 --> 01:19:23.300
The question is, are they using that for the underground bases? Are they using it for, all these black technologies? Are they using them in any way? We don't know.

01:19:23.300 --> 01:19:36.940
But what I will tell you is, we've got an entire global stock market trading on one energy model when we know that they could bring out an entirely different one that could revolutionize how everything trades in the stock market.

01:19:37.720 --> 01:19:54.380
It, yeah, the paradigm change in the global economic financial models would be very dramatic if you had that kind of energy system.

01:19:55.100 --> 01:20:09.740
Because, my mantra has been your energy system and your financial systems are tied because the financial system is always a mirror of the physics of your energy system.

01:20:09.740 --> 01:20:22.980
If you're dealing with a closed system of energy, in other words, you're, you're dealing with non-renewable energy resources, that's the kind of financial system you'll have.

01:20:23.220 --> 01:20:30.220
And you can play havoc and make a lot of money, as we've seen under the central bank model.

01:20:30.640 --> 01:20:53.200
The problem is, if you go to a system of energy that is more or less open, and here's the key part of it, easy, more or less easy to engineer, your financial system will follow suit, and you're, you're dealing with a system that potentially bankers cannot control.

01:20:53.220 --> 01:20:54.880
They cannot manipulate it.

01:20:54.880 --> 01:20:55.100
Right.

01:20:55.980 --> 01:20:58.240
This is the problem they've always had.

01:20:58.240 --> 01:21:08.400
So what has been the delay in bringing out this type of energy, be it fusion energy or zero-point energy or what have you?

01:21:08.500 --> 01:21:09.820
What has been the problem?

01:21:11.140 --> 01:21:23.060
Well, in Babylon's Banksters, in that book, I argued, and I still believe this, that we had that kind of system of energy with Tesla's,

01:21:23.060 --> 01:21:24.840
Wireless power system.

01:21:24.840 --> 01:21:25.040
Right.

01:21:26.080 --> 01:21:38.980
And the story is always told that J.P. Morgan put the end to that system because he complained he couldn't meter it and thus make any money from it.

01:21:38.980 --> 01:21:53.040
Well, that's a bunch of poppycock because J.P. Morgan stood to make a fortune from the licensing fees and royalties that he would have had sponsoring Tesla as,

01:21:53.060 --> 01:21:55.020
As his financial backers.

01:21:55.080 --> 01:21:56.960
So why did he pull the plug?

01:21:57.280 --> 01:22:07.420
He pulled the plug, in my opinion, because they realized, once they understood how simple Tesla's system really was,

01:22:07.700 --> 01:22:20.160
That anybody with a junior high or high school degree and education in physics, anybody could engineer a similar system.

01:22:20.840 --> 01:22:22.280
Right. Get out of control.

01:22:22.280 --> 01:22:33.580
And the other problem was that Tesla slowly began to disclose that his system could be a very powerful weapon.

01:22:34.540 --> 01:22:43.580
So if you have the ability to engineer a simple system and turn it into a very powerful weapon, you've got a proliferation problem.

01:22:43.580 --> 01:23:00.800
So they could not bring this system out until they had a surveillance grid adequate to the task of tracking everybody and making sure that they're not buying supplies to build a system like that.

01:23:00.800 --> 01:23:23.720
Or think of the Iran cannot get a nuclear weapon problem and multiply that by every garage in America with a kid in junior high or high school that is taking a degree in electronics or what have you and wants to play around with those types of systems.

01:23:23.940 --> 01:23:26.040
That's a proliferation nightmare.

01:23:26.380 --> 01:23:28.080
This is why they stopped it.

01:23:28.640 --> 01:23:31.640
Right, but they are building the surveillance grid and the control grid.

01:23:31.640 --> 01:23:33.140
They are building the surveillance grid, right.

01:23:33.160 --> 01:23:37.180
They need, and so in theory, so here's my question.

01:23:38.120 --> 01:23:52.320
We have seen the U.S. Get dangerously close to the bottom of the strategic reserve before you know, you put the whole reserve in danger of collapsing if you take any more oil out.

01:23:53.280 --> 01:23:58.480
And we see the oil price dropping dramatically despite that.

01:23:58.600 --> 01:24:03.960
Now, there are rumors that they're huge shorts in the market, but something doesn't make sense.

01:24:04.040 --> 01:24:11.020
In other words, if you look at the conduct of this war, somebody feels like they don't need oil.

01:24:12.680 --> 01:24:26.600
And let's add to that something else that is happening in this country, in the United States particularly, with all of these artificial intelligence data centers that they're trying to build up.

01:24:27.280 --> 01:24:40.220
There is now, in the state that I'm in, there is now, and you know me, I follow talk radio, so I'm listening to more and more of these types of stories appear on talk radio,

01:24:40.220 --> 01:24:52.880
Particularly locally, to a lesser extent nationally. More and more now, the opposition to artificial intelligence centers is happening at a local level when people find out the energy costs.

01:24:53.420 --> 01:24:53.560
Right.

01:24:54.000 --> 01:25:04.980
So what's happening where I'm at is that many of these companies that want to build data centers around my region are telling the state,

01:25:04.980 --> 01:25:17.760
We'll build our own power supply, and we will not be on your power grid at all, and therefore your energy prices for the average consumer will stay the same.

01:25:18.500 --> 01:25:30.240
Now, I strongly suspect that's poppycock, because they are going to have to do something with that excess power, so why not plug it into the grid?

01:25:30.520 --> 01:25:31.120
Right.

01:25:31.240 --> 01:25:32.000
And sell it.

01:25:32.680 --> 01:25:32.920
Right.

01:25:32.920 --> 01:25:41.360
The key thing here is, as you know, these data centers, as you've put it several times, use more energy than a panzer division.

01:25:42.540 --> 01:25:54.060
And if that's the case, and they're going to build out their own power supply, that tells me they've got some sort of trick up their sleeve for that power.

01:25:54.460 --> 01:25:54.900
Right.

01:25:54.900 --> 01:26:03.560
Whether it's a local tiny thorium reactor or fusion power or something even more exotic, I don't know.

01:26:03.960 --> 01:26:05.760
But I think you're absolutely correct.

01:26:06.340 --> 01:26:17.240
The AI data centers are the key here to telling us that they keep telling us the current power grid is inadequate to power these things.

01:26:17.320 --> 01:26:18.920
Well, then why are we building them?

01:26:19.280 --> 01:26:22.600
Well, they're building them, and they've let the cat out of the bag now.

01:26:22.820 --> 01:26:29.800
We've got our own power sources, and we're going to use them to build these data centers to keep surveillance and tabs on everybody else.

01:26:30.160 --> 01:26:31.620
That's exactly what's going on.

01:26:31.700 --> 01:26:33.920
They've got something up their sleeve.

01:26:34.220 --> 01:26:35.340
I completely agree.

01:26:35.860 --> 01:26:36.880
I completely agree.

01:26:37.040 --> 01:26:42.640
And I do think it's likely to be modular nuclear that's portable.

01:26:43.080 --> 01:26:43.880
Yes, it's portable.

01:26:44.060 --> 01:26:45.320
You can move around.

01:26:46.720 --> 01:27:02.740
Okay, so part of what's happening in Iran is at the same time Iran is happening, we are seeing more grift publicly than I've ever seen before.

01:27:03.220 --> 01:27:03.360
Yes.

01:27:03.860 --> 01:27:12.020
So I think it was the New York Times and Forbes just came out saying that the Trump family grifts at the inauguration has been 2.2 billion.

01:27:12.020 --> 01:27:30.660
I show it as being, Tiffany Sianci just gave a speech and said $6 billion, which to me sounds more like it, but I haven't done a deep dive research yet, but I've been tracking a list of grifts, and it's now 10 pages long, and it's tiny type.

01:27:31.160 --> 01:27:31.280
Yeah.

01:27:31.280 --> 01:27:41.600
So, we're talking about bribes, people buying pardons with donations, and I mean, it just goes on and on. It's incredible.

01:27:42.020 --> 01:27:55.760
But I wanted to see, I loved Tim Dillon, who's a comedian, and he was the one, I showed you the last drop, and he says, in America under Trump, he says, America's, it's, it's, it's auction.

01:27:56.900 --> 01:27:57.340
Yeah.

01:27:57.940 --> 01:28:04.840
Okay, so this is Tim Dillon talking about now where we are after this many months of the Iran war.

01:28:05.260 --> 01:28:08.460
It's the greatest con in history. By the way, it's the greatest con in history. Truly.

01:28:09.140 --> 01:28:18.100
It's the greatest, it's the, and I don't say great in like a good way, it is truly the most successful con in history.

01:28:18.220 --> 01:28:22.240
It makes Enron look like a guy doing three-card Monty on the street.

01:28:23.260 --> 01:28:29.880
Anything that you can remember and identify as a complete and utter scam, this is the greatest con in history.

01:28:30.360 --> 01:28:39.120
To run as an America first, and you're going to take care of America, and then turn around and go, all of these things, daycare, Medicare, Medicaid, we have nothing to do with that.

01:28:39.140 --> 01:28:45.860
We're fighting wars. That's what we're here to do. We're here to have a defense budget of $1.5 trillion, and we're here to fight wars.

01:28:46.480 --> 01:28:56.660
It is the greatest scam in history. You got to hand it to him. And I mean, truly, and not, again, not in a moral way, but like you got to hand it to him.

01:28:58.040 --> 01:29:06.220
This is the greatest about-face in political history that I have really ever seen.

01:29:09.140 --> 01:29:10.460
I would agree with that.

01:29:10.760 --> 01:29:11.920
I would too, absolutely.

01:29:12.260 --> 01:29:16.000
The number one reason people voted for Trump was no more wars.

01:29:16.300 --> 01:29:16.580
Yep.

01:29:17.200 --> 01:29:22.840
They, anyway, so, and it's a remarkable switch hit.

01:29:23.000 --> 01:29:43.020
Well, it's not only remarkable, but it, whether people like it or not, his betrayal of that portion of his base and the fallout, I go back to the murder of Charlie Kirk as being a bellwether benchmark change in the political atmosphere in this country.

01:29:43.020 --> 01:29:45.220
Because what it has done

01:29:45.220 --> 01:29:46.540
Is

01:29:46.540 --> 01:29:48.920
Once for all time

01:29:48.920 --> 01:29:52.780
It has exposed the power and influence of the Israeli lobby

01:29:52.780 --> 01:29:59.680
And it's chokehold over a certain segment of American culture and politics

01:29:59.680 --> 01:30:03.100
So you are going to see fallout from this

01:30:03.100 --> 01:30:04.860
Hit the Republican Party

01:30:04.860 --> 01:30:06.540
Hit the Democratic Party

01:30:06.540 --> 01:30:08.680
It will be long term

01:30:08.680 --> 01:30:10.900
And the problem is

01:30:10.900 --> 01:30:14.680
It has basically fractured

01:30:14.680 --> 01:30:17.420
The American right in a way that

01:30:17.420 --> 01:30:20.180
That would not have been possible

01:30:20.180 --> 01:30:23.160
Without this second Trump administration

01:30:23.160 --> 01:30:25.440
Reagan put together that coalition

01:30:25.440 --> 01:30:31.280
Of old time conservatives and evangelical Protestantism in this country

01:30:31.280 --> 01:30:34.620
And what the Charlie Kirk murder did

01:30:34.620 --> 01:30:38.620
And the exposure of the influence of the Israeli lobby has done

01:30:38.620 --> 01:30:40.620
Is it has fractured that

01:30:40.620 --> 01:30:44.340
That evangelical component of the Reagan coalition

01:30:44.340 --> 01:30:45.460
That's gone

01:30:45.460 --> 01:30:47.600
And it is not going to come back

01:30:47.600 --> 01:30:49.140
I hope you're right

01:30:49.140 --> 01:30:50.000
Because that group

01:30:50.000 --> 01:30:51.220
You know if it kept going

01:30:51.220 --> 01:30:52.420
It would destroy the church

01:30:52.420 --> 01:30:54.720
Well it would not only destroy the church

01:30:54.720 --> 01:30:55.840
You know it

01:30:55.840 --> 01:30:59.220
It is in the process of destroying the country

01:30:59.220 --> 01:31:00.100
Right

01:31:00.100 --> 01:31:03.300
So I think you're seeing a sea change

01:31:03.300 --> 01:31:05.400
A massive cultural change

01:31:05.400 --> 01:31:06.560
In American politics

01:31:06.560 --> 01:31:08.860
And we're just at the beginning of it

01:31:08.860 --> 01:31:10.720
So we'll get to story 7

01:31:10.720 --> 01:31:11.840
We're going to talk about this

01:31:11.840 --> 01:31:13.120
Because I'm with you

01:31:13.120 --> 01:31:15.280
I think it's a massive change

01:31:15.280 --> 01:31:15.820
Yeah

01:31:15.820 --> 01:31:17.600
And I see it everywhere I go

01:31:17.600 --> 01:31:18.660
Yes absolutely

01:31:18.660 --> 01:31:19.180
Yes

01:31:19.180 --> 01:31:20.040
Everywhere I go

01:31:20.040 --> 01:31:21.860
Okay so one last

01:31:21.860 --> 01:31:23.760
Or actually we have

01:31:23.760 --> 01:31:25.840
A few last ones

01:31:25.840 --> 01:31:26.920
Okay so

01:31:26.920 --> 01:31:28.580
So this is Trump

01:31:28.580 --> 01:31:31.180
Speaking of grift nation

01:31:31.180 --> 01:31:34.100
After grifting 2.2 billion

01:31:34.100 --> 01:31:34.820
To 6 billion

01:31:34.820 --> 01:31:36.440
This is Trump on

01:31:36.440 --> 01:31:37.400
The American's

01:31:37.400 --> 01:31:39.360
Financial situation

01:31:39.360 --> 01:31:44.780
When you're negotiating

01:31:44.780 --> 01:31:46.000
With Iran Mr. President

01:31:46.000 --> 01:31:46.940
To what extent

01:31:46.940 --> 01:31:47.820
Are American's

01:31:47.820 --> 01:31:48.940
Financial situations

01:31:48.940 --> 01:31:49.940
Motivating you

01:31:49.940 --> 01:31:50.620
To make a deal

01:31:50.620 --> 01:31:52.360
Not even a little bit

01:31:52.360 --> 01:31:54.080
The only thing that matters

01:31:54.080 --> 01:31:55.520
When I'm talking about Iran

01:31:55.520 --> 01:31:57.220
They can't have a nuclear weapon

01:31:57.220 --> 01:31:58.140
I don't think about

01:31:58.140 --> 01:32:01.040
American's financial situation

01:32:01.040 --> 01:32:02.180
I don't think about anybody

01:32:02.180 --> 01:32:03.480
I think about one thing

01:32:03.480 --> 01:32:05.760
We cannot let Iran

01:32:05.760 --> 01:32:06.900
Have a nuclear weapon

01:32:06.900 --> 01:32:07.380
That's all

01:32:07.380 --> 01:32:08.980
That's the only thing

01:32:08.980 --> 01:32:09.340
That matters

01:32:09.340 --> 01:32:12.200
So I

01:32:12.200 --> 01:32:13.140
I believe

01:32:13.140 --> 01:32:14.300
That what they

01:32:14.300 --> 01:32:15.140
Have done

01:32:15.140 --> 01:32:16.980
You know

01:32:16.980 --> 01:32:17.380
Because when

01:32:17.380 --> 01:32:18.420
When Trump went in

01:32:18.420 --> 01:32:19.620
The speed at which

01:32:19.620 --> 01:32:20.680
All the control grid

01:32:20.680 --> 01:32:21.540
Stuff rolled out

01:32:21.540 --> 01:32:21.880
You know

01:32:21.880 --> 01:32:22.940
We have the control grid

01:32:22.940 --> 01:32:23.920
Collection at Solari

01:32:23.920 --> 01:32:25.740
We update it every week

01:32:25.740 --> 01:32:27.080
The speed at which

01:32:27.080 --> 01:32:27.440
He's

01:32:27.440 --> 01:32:28.300
He's implemented

01:32:28.300 --> 01:32:29.040
The control grid

01:32:29.040 --> 01:32:30.140
Is dazzling

01:32:30.140 --> 01:32:31.120
Yes it is

01:32:31.120 --> 01:32:31.120
I mean

01:32:31.120 --> 01:32:32.060
When it comes to

01:32:32.060 --> 01:32:33.220
Implementing the control grid

01:32:33.220 --> 01:32:34.840
Trump gets an A plus

01:32:34.840 --> 01:32:36.400
And I think

01:32:36.400 --> 01:32:37.580
To continue to implement

01:32:37.580 --> 01:32:38.560
They need to get

01:32:38.560 --> 01:32:39.560
Iran in the tent

01:32:39.560 --> 01:32:41.320
And that's what this is about

01:32:41.320 --> 01:32:41.780
It's not

01:32:41.780 --> 01:32:43.240
That's the nuclear weapon

01:32:43.240 --> 01:32:44.500
It's not nuclear weapon

01:32:44.500 --> 01:32:46.040
It's the control grid

01:32:46.040 --> 01:32:47.160
It's the control grid

01:32:47.160 --> 01:32:47.880
Infrastructure

01:32:47.880 --> 01:32:48.540
Yeah

01:32:48.540 --> 01:32:49.740
So he needs them

01:32:49.740 --> 01:32:50.580
On the control grid

01:32:50.580 --> 01:32:52.000
And it's been that way

01:32:52.000 --> 01:32:52.780
The seven countries

01:32:52.780 --> 01:32:53.540
In five years

01:32:53.540 --> 01:32:54.560
With Wesley Clark

01:32:54.560 --> 01:32:56.320
That was getting everybody

01:32:56.320 --> 01:32:57.420
Into the central banking

01:32:57.420 --> 01:32:58.580
Model

01:32:58.580 --> 01:32:59.000
So

01:32:59.000 --> 01:33:01.400
And that's all he cares about

01:33:01.400 --> 01:33:02.580
And that's what he's paid to do

01:33:02.580 --> 01:33:03.720
And as long as he does that

01:33:03.720 --> 01:33:05.400
He's free to grift as much as he wants

01:33:05.400 --> 01:33:06.220
Yeah

01:33:06.220 --> 01:33:07.020
Right

01:33:07.020 --> 01:33:08.900
There's some interesting stories

01:33:08.900 --> 01:33:10.060
That I put on the website

01:33:10.060 --> 01:33:11.820
Three of them

01:33:11.820 --> 01:33:12.980
From the spring issue

01:33:12.980 --> 01:33:13.800
Of Foreign Affairs

01:33:13.800 --> 01:33:15.600
And literally

01:33:15.600 --> 01:33:16.940
So this is Foreign Affairs

01:33:16.940 --> 01:33:20.620
The magazine of the Council on Foreign Relations

01:33:20.620 --> 01:33:22.580
And they have one called

01:33:22.580 --> 01:33:24.040
The predatory hegemon

01:33:24.040 --> 01:33:25.720
And another on the grifting

01:33:25.720 --> 01:33:27.420
And one of the things he says is

01:33:27.420 --> 01:33:28.980
Stop trying to figure out

01:33:28.980 --> 01:33:30.480
What Trump's foreign policy is

01:33:30.480 --> 01:33:31.940
His foreign policy is

01:33:31.940 --> 01:33:32.760
His foreign policy is simply

01:33:32.760 --> 01:33:34.900
Where the opportunity is

01:33:34.900 --> 01:33:35.960
To make money for himself

01:33:35.960 --> 01:33:36.540
And his friends

01:33:36.540 --> 01:33:38.440
That's his policy

01:33:38.440 --> 01:33:39.680
That's his foreign policy

01:33:39.680 --> 01:33:40.980
It's a plunder

01:33:40.980 --> 01:33:42.380
It's a plunder policy

01:33:42.380 --> 01:33:44.460
The most outrageous one

01:33:44.460 --> 01:33:45.300
Is the Peace Board

01:33:45.300 --> 01:33:46.920
Which we haven't spoken about

01:33:46.920 --> 01:33:48.400
But it's just

01:33:48.400 --> 01:33:49.480
Catherine

01:33:49.480 --> 01:33:51.080
Watching Donald Trump

01:33:51.080 --> 01:33:52.100
Is like watching

01:33:52.100 --> 01:33:53.260
Ulysses Grant

01:33:53.260 --> 01:33:54.380
Yep

01:33:54.380 --> 01:33:55.060
Exactly

01:33:55.060 --> 01:33:56.160
You know

01:33:56.160 --> 01:33:58.240
The parallels are so blatant

01:33:58.240 --> 01:33:58.840
To me

01:33:58.840 --> 01:34:01.800
It's not even funny

01:34:01.800 --> 01:34:02.660
You know

01:34:02.660 --> 01:34:03.700
Because if there was

01:34:03.700 --> 01:34:04.460
Ever a president

01:34:04.460 --> 01:34:05.740
Without a foreign policy

01:34:05.740 --> 01:34:07.040
It was Ulysses Grant

01:34:07.040 --> 01:34:08.600
And he was rolling

01:34:08.600 --> 01:34:09.500
In grift

01:34:09.500 --> 01:34:10.340
And corruption

01:34:10.340 --> 01:34:12.140
It's unbelievable

01:34:12.140 --> 01:34:13.640
It's unbelievable

01:34:13.640 --> 01:34:14.680
So

01:34:14.680 --> 01:34:16.180
Alistair Crook

01:34:16.180 --> 01:34:17.960
Who I think is one of the best people

01:34:17.960 --> 01:34:19.320
Commenting on the Middle East

01:34:19.320 --> 01:34:20.800
Got on Tucker Carlson

01:34:20.800 --> 01:34:21.580
During the quarter

01:34:21.580 --> 01:34:23.620
And I wanted to

01:34:23.620 --> 01:34:24.940
He brought it down

01:34:24.940 --> 01:34:26.500
To what it means to us

01:34:26.500 --> 01:34:28.340
And I thought it was

01:34:28.340 --> 01:34:29.140
Very well done

01:34:29.140 --> 01:34:29.920
I think

01:34:29.920 --> 01:34:31.380
That we do need

01:34:31.380 --> 01:34:32.260
Sort of

01:34:32.260 --> 01:34:33.120
What I call

01:34:33.120 --> 01:34:34.480
Creative destruction

01:34:34.480 --> 01:34:35.880
A little bit

01:34:35.880 --> 01:34:36.400
To

01:34:36.400 --> 01:34:37.720
To help us

01:34:37.720 --> 01:34:38.360
Rethink

01:34:38.360 --> 01:34:39.620
For a start

01:34:39.620 --> 01:34:40.640
What sort of

01:34:40.640 --> 01:34:41.840
Economic structure

01:34:41.840 --> 01:34:42.740
Do we need

01:34:42.740 --> 01:34:43.080
To

01:34:43.080 --> 01:34:44.180
To address

01:34:44.180 --> 01:34:44.840
The problems

01:34:44.840 --> 01:34:45.360
We have

01:34:45.360 --> 01:34:46.960
Because the economic

01:34:46.960 --> 01:34:48.560
Structure

01:34:48.560 --> 01:34:49.200
We've had

01:34:49.200 --> 01:34:49.900
In this period

01:34:49.900 --> 01:34:50.820
Has not

01:34:50.820 --> 01:34:52.500
Has brought about

01:34:52.500 --> 01:34:53.460
This bipolar

01:34:53.460 --> 01:34:54.120
World

01:34:54.120 --> 01:34:54.760
There is

01:34:54.760 --> 01:34:55.440
You know

01:34:55.440 --> 01:34:55.940
The

01:34:55.940 --> 01:34:57.460
The world

01:34:57.460 --> 01:34:58.860
Of the billionaires

01:34:58.860 --> 01:34:59.900
And the world

01:34:59.900 --> 01:35:00.560
Of the rest

01:35:00.560 --> 01:35:00.960
Which is

01:35:00.960 --> 01:35:01.420
Is getting

01:35:01.420 --> 01:35:02.140
Progressively

01:35:02.140 --> 01:35:03.440
It's horrible

01:35:03.440 --> 01:35:04.300
And

01:35:04.300 --> 01:35:04.920
You know

01:35:04.920 --> 01:35:05.660
Our people

01:35:05.660 --> 01:35:06.840
Our only people

01:35:06.840 --> 01:35:07.920
Wherever it is

01:35:07.920 --> 01:35:08.440
In Europe

01:35:08.440 --> 01:35:09.200
And others

01:35:09.200 --> 01:35:09.900
They think

01:35:09.900 --> 01:35:10.460
Well

01:35:10.460 --> 01:35:11.060
You know

01:35:11.060 --> 01:35:12.340
Protest doesn't

01:35:12.340 --> 01:35:12.740
Work

01:35:12.740 --> 01:35:14.720
Because we protest

01:35:14.720 --> 01:35:15.700
Nothing happens

01:35:15.700 --> 01:35:16.400
We

01:35:16.400 --> 01:35:17.480
Voting doesn't

01:35:17.480 --> 01:35:17.800
Work

01:35:17.800 --> 01:35:18.700
We can vote

01:35:18.700 --> 01:35:19.520
For Tweedledee

01:35:19.520 --> 01:35:20.480
Or Tweedledum

01:35:20.480 --> 01:35:22.080
It doesn't

01:35:22.080 --> 01:35:22.880
Change the

01:35:22.880 --> 01:35:23.540
Economic

01:35:23.540 --> 01:35:24.320
System

01:35:24.320 --> 01:35:25.700
And

01:35:25.700 --> 01:35:26.140
Bring

01:35:26.140 --> 01:35:26.800
About the

01:35:26.800 --> 01:35:27.180
Change

01:35:27.180 --> 01:35:27.960
And that's

01:35:27.960 --> 01:35:28.660
What we

01:35:28.660 --> 01:35:29.820
Want to see

01:35:29.820 --> 01:35:30.600
And I think

01:35:30.600 --> 01:35:31.240
The whole

01:35:31.240 --> 01:35:32.140
Of this

01:35:32.140 --> 01:35:32.660
Period

01:35:32.660 --> 01:35:33.480
Partly

01:35:33.480 --> 01:35:34.520
Stimulated

01:35:34.520 --> 01:35:35.580
By what the

01:35:35.580 --> 01:35:36.560
Iranians are

01:35:36.560 --> 01:35:36.920
Doing

01:35:36.920 --> 01:35:37.340
And

01:35:37.340 --> 01:35:38.700
Even by their

01:35:38.700 --> 01:35:39.060
Sort of

01:35:39.060 --> 01:35:40.080
Thoughts about it

01:35:40.080 --> 01:35:41.980
Is going to

01:35:41.980 --> 01:35:42.980
Provoke

01:35:42.980 --> 01:35:44.260
People to think

01:35:44.260 --> 01:35:45.280
More deeply

01:35:45.280 --> 01:35:46.040
In Europe

01:35:46.040 --> 01:35:47.100
About

01:35:47.100 --> 01:35:48.960
You know

01:35:48.960 --> 01:35:49.800
How do we

01:35:49.800 --> 01:35:50.260
Actually

01:35:50.260 --> 01:35:51.120
Not just

01:35:51.120 --> 01:35:51.800
Produce a

01:35:51.800 --> 01:35:52.320
Cosmetic

01:35:52.320 --> 01:35:53.520
Market

01:35:53.520 --> 01:35:54.440
Relations

01:35:54.440 --> 01:35:55.240
Type of

01:35:55.240 --> 01:35:55.680
Paint

01:35:55.680 --> 01:35:56.800
But how do

01:35:56.800 --> 01:35:57.580
We actually

01:35:57.580 --> 01:35:58.680
Find

01:35:58.680 --> 01:35:59.620
A solution

01:35:59.620 --> 01:36:00.480
That

01:36:00.480 --> 01:36:00.980
Would

01:36:00.980 --> 01:36:01.940
Provide

01:36:01.940 --> 01:36:02.820
A decent

01:36:02.820 --> 01:36:03.380
Living

01:36:03.380 --> 01:36:04.060
For

01:36:04.060 --> 01:36:04.480
Our

01:36:04.480 --> 01:36:04.900
People

01:36:04.900 --> 01:36:08.380
I think

01:36:08.380 --> 01:36:09.060
That's the

01:36:09.060 --> 01:36:10.720
That's the most

01:36:10.720 --> 01:36:11.560
Hopeful thing I've heard

01:36:11.560 --> 01:36:12.160
In a long time

01:36:12.160 --> 01:36:12.540
And I'm

01:36:12.540 --> 01:36:13.260
Grateful for your

01:36:13.260 --> 01:36:13.660
Analysis

01:36:13.660 --> 01:36:15.740
So

01:36:15.740 --> 01:36:16.380
Essentially

01:36:16.380 --> 01:36:17.060
What

01:36:17.060 --> 01:36:17.780
What

01:36:17.780 --> 01:36:18.600
Alistair has been

01:36:18.600 --> 01:36:19.400
Saying is

01:36:19.400 --> 01:36:20.680
This is going to

01:36:20.680 --> 01:36:21.500
Force many

01:36:21.500 --> 01:36:22.220
People in the

01:36:22.220 --> 01:36:22.620
West

01:36:22.620 --> 01:36:25.300
To look

01:36:25.300 --> 01:36:26.220
You know

01:36:26.220 --> 01:36:26.780
Fundamentally

01:36:26.780 --> 01:36:27.580
At our

01:36:27.580 --> 01:36:28.180
Values

01:36:28.180 --> 01:36:28.800
And our

01:36:28.800 --> 01:36:29.280
Economy

01:36:29.280 --> 01:36:31.640
Because our

01:36:31.640 --> 01:36:32.040
Values

01:36:32.040 --> 01:36:32.520
And our

01:36:32.520 --> 01:36:32.840
Economy

01:36:32.840 --> 01:36:33.620
Don't work

01:36:33.620 --> 01:36:34.280
For us

01:36:34.280 --> 01:36:35.120
No

01:36:35.120 --> 01:36:35.400
They

01:36:35.400 --> 01:36:35.880
Absolutely

01:36:35.880 --> 01:36:36.940
I'm glad

01:36:36.940 --> 01:36:37.500
You mentioned

01:36:37.500 --> 01:36:38.680
And played

01:36:38.680 --> 01:36:38.980
That

01:36:38.980 --> 01:36:39.320
Catherine

01:36:39.320 --> 01:36:39.940
Because there's

01:36:39.940 --> 01:36:40.260
Something

01:36:40.260 --> 01:36:40.980
There's two

01:36:40.980 --> 01:36:41.580
Things I want

01:36:41.580 --> 01:36:42.040
To mention

01:36:42.040 --> 01:36:42.880
In that

01:36:42.880 --> 01:36:43.360
Respect

01:36:43.360 --> 01:36:44.640
The first

01:36:44.640 --> 01:36:44.940
Is

01:36:44.940 --> 01:36:45.680
I've been

01:36:45.680 --> 01:36:46.200
Watching

01:36:46.200 --> 01:36:47.120
All year

01:36:47.120 --> 01:36:47.860
Waiting

01:36:47.860 --> 01:36:49.960
For

01:36:49.960 --> 01:36:51.800
The

01:36:51.800 --> 01:36:53.160
Enthusiasm

01:36:53.160 --> 01:36:55.540
Of

01:36:55.540 --> 01:36:55.820
The

01:36:55.820 --> 01:36:57.000
250th

01:36:57.000 --> 01:36:57.540
Anniversary

01:36:57.540 --> 01:36:58.020
Of

01:36:58.020 --> 01:36:58.420
American

01:36:58.420 --> 01:36:59.100
Independence

01:36:59.100 --> 01:36:59.840
To

01:36:59.840 --> 01:37:00.720
Manifest

01:37:00.720 --> 01:37:01.400
Itself

01:37:01.400 --> 01:37:02.980
I was in

01:37:02.980 --> 01:37:03.460
College

01:37:03.460 --> 01:37:04.620
You were alive

01:37:04.620 --> 01:37:05.140
During the

01:37:05.140 --> 01:37:05.900
200th

01:37:05.900 --> 01:37:06.560
Anniversary

01:37:06.560 --> 01:37:07.620
Celebrations

01:37:07.620 --> 01:37:09.160
And we were

01:37:09.160 --> 01:37:09.620
Literally

01:37:09.620 --> 01:37:10.420
Celebrating

01:37:10.420 --> 01:37:10.920
The whole

01:37:10.920 --> 01:37:11.360
Year

01:37:11.360 --> 01:37:13.200
There were

01:37:13.200 --> 01:37:13.980
Specials on

01:37:13.980 --> 01:37:14.660
Television

01:37:14.660 --> 01:37:15.540
People were

01:37:15.540 --> 01:37:15.980
Constantly

01:37:15.980 --> 01:37:17.040
Talking about

01:37:17.040 --> 01:37:17.340
It

01:37:17.340 --> 01:37:18.400
We saw

01:37:18.400 --> 01:37:18.860
Special

01:37:18.860 --> 01:37:19.400
Sporting

01:37:19.400 --> 01:37:20.040
Events

01:37:20.040 --> 01:37:20.420
There were

01:37:20.420 --> 01:37:20.820
Special

01:37:20.820 --> 01:37:21.460
Things going

01:37:21.460 --> 01:37:21.940
On in

01:37:21.940 --> 01:37:22.660
The schools

01:37:22.660 --> 01:37:23.920
So it was

01:37:23.920 --> 01:37:24.240
A big

01:37:24.240 --> 01:37:24.840
Party

01:37:24.840 --> 01:37:25.520
All year

01:37:25.520 --> 01:37:25.960
Long

01:37:25.960 --> 01:37:26.240
And

01:37:26.240 --> 01:37:26.920
That

01:37:27.240 --> 01:37:28.280
After

01:37:28.280 --> 01:37:29.240
Nixon

01:37:29.240 --> 01:37:30.840
After Watergate

01:37:30.840 --> 01:37:31.320
With

01:37:31.320 --> 01:37:31.760
You know

01:37:31.760 --> 01:37:32.240
Gerald

01:37:32.240 --> 01:37:33.280
Fumbling Ford

01:37:33.280 --> 01:37:34.340
And the White House

01:37:34.340 --> 01:37:36.140
The mood in the country

01:37:36.140 --> 01:37:36.840
Was

01:37:36.840 --> 01:37:38.720
Celebratory

01:37:38.720 --> 01:37:40.620
I did not

01:37:40.620 --> 01:37:41.500
See

01:37:41.500 --> 01:37:42.680
Or feel

01:37:42.680 --> 01:37:43.400
Any

01:37:43.400 --> 01:37:44.320
Of that

01:37:44.320 --> 01:37:46.400
This

01:37:46.400 --> 01:37:47.620
250th

01:37:47.620 --> 01:37:48.140
Anniversary

01:37:48.140 --> 01:37:49.520
There was a little

01:37:49.520 --> 01:37:50.200
Enthusiasm

01:37:50.200 --> 01:37:51.100
But it was

01:37:51.100 --> 01:37:52.080
Nothing

01:37:52.080 --> 01:37:54.080
Like the scale

01:37:54.080 --> 01:37:54.740
It was

01:37:54.740 --> 01:37:55.560
Back in

01:37:55.560 --> 01:37:56.560
1976

01:37:56.560 --> 01:37:57.120
Right

01:37:57.120 --> 01:37:57.700
There was

01:37:57.700 --> 01:37:58.300
And

01:37:58.300 --> 01:37:59.760
What we focused on

01:37:59.760 --> 01:38:00.280
At Solari

01:38:00.280 --> 01:38:02.140
Was prayers

01:38:02.140 --> 01:38:03.040
For another

01:38:03.040 --> 01:38:04.220
250 years

01:38:04.220 --> 01:38:04.940
So we were

01:38:04.940 --> 01:38:05.660
Looking at the

01:38:05.660 --> 01:38:06.140
Future

01:38:06.140 --> 01:38:07.580
Because what is

01:38:07.580 --> 01:38:08.480
Happening so now

01:38:08.480 --> 01:38:09.200
Is so

01:38:09.200 --> 01:38:10.360
I mean

01:38:10.360 --> 01:38:11.000
Washington

01:38:11.000 --> 01:38:12.540
Has become

01:38:12.540 --> 01:38:13.980
Absolutely

01:38:13.980 --> 01:38:14.520
Committed

01:38:14.520 --> 01:38:15.640
To depopulating

01:38:15.640 --> 01:38:16.380
And plundering

01:38:16.380 --> 01:38:17.580
America

01:38:17.580 --> 01:38:19.220
Is what I see

01:38:19.220 --> 01:38:19.920
And we'll

01:38:19.920 --> 01:38:21.060
Get to that

01:38:21.060 --> 01:38:21.620
In some of the

01:38:21.620 --> 01:38:22.180
Later stories

01:38:22.180 --> 01:38:22.800
The second thing

01:38:22.800 --> 01:38:23.280
The second

01:38:23.280 --> 01:38:24.520
I mention that

01:38:24.520 --> 01:38:24.980
Because

01:38:24.980 --> 01:38:25.700
I

01:38:25.700 --> 01:38:27.280
I

01:38:27.280 --> 01:38:28.620
Am in agreement

01:38:28.620 --> 01:38:29.160
That

01:38:29.160 --> 01:38:29.520
That

01:38:29.520 --> 01:38:30.840
People are waking up

01:38:30.840 --> 01:38:31.640
And they're realizing

01:38:31.640 --> 01:38:33.020
This is not

01:38:33.020 --> 01:38:34.520
What we signed on for

01:38:34.520 --> 01:38:36.280
The other thing

01:38:36.280 --> 01:38:37.280
The other big

01:38:37.280 --> 01:38:38.260
Big

01:38:38.260 --> 01:38:39.400
Thing

01:38:39.400 --> 01:38:39.820
That

01:38:39.820 --> 01:38:40.820
Cues me in

01:38:40.820 --> 01:38:41.820
That something is

01:38:41.820 --> 01:38:43.580
Is really going on

01:38:43.580 --> 01:38:44.900
And it's something that

01:38:44.900 --> 01:38:46.560
Really slipped right off

01:38:46.560 --> 01:38:47.380
The news radar

01:38:47.380 --> 01:38:49.060
Probably did in Europe too

01:38:49.060 --> 01:38:50.320
But to a lesser extent

01:38:50.320 --> 01:38:52.520
Chancellor Schultz

01:38:52.520 --> 01:38:54.120
Or pardon me

01:38:54.120 --> 01:38:54.840
Chancellor Mertz

01:38:54.840 --> 01:38:56.920
In Germany

01:38:56.920 --> 01:38:58.380
Has

01:38:58.380 --> 01:38:59.900
Recently come out

01:38:59.900 --> 01:39:01.860
And announced that he wants to give

01:39:01.860 --> 01:39:03.720
The legal right

01:39:03.720 --> 01:39:05.100
To the BND

01:39:05.100 --> 01:39:08.360
To the Bundesnachrichtendienst

01:39:08.360 --> 01:39:10.180
To carry out assassination

01:39:10.180 --> 01:39:12.460
Yes

01:39:12.460 --> 01:39:14.860
Yeah

01:39:14.860 --> 01:39:18.520
Now talk about

01:39:18.520 --> 01:39:19.760
A major step

01:39:19.760 --> 01:39:21.740
Well you know

01:39:21.740 --> 01:39:22.760
That does remind me

01:39:22.760 --> 01:39:23.160
When

01:39:23.160 --> 01:39:23.660
When

01:39:23.660 --> 01:39:24.680
When

01:39:24.680 --> 01:39:25.280
New York

01:39:25.280 --> 01:39:26.120
Took the position

01:39:26.120 --> 01:39:26.620
That it could

01:39:26.620 --> 01:39:28.840
Adopt an administrative rule

01:39:28.840 --> 01:39:30.880
For health reasons

01:39:30.880 --> 01:39:31.960
To kidnap anyone

01:39:31.960 --> 01:39:33.060
With no proof

01:39:33.060 --> 01:39:34.460
And put them under lock and key

01:39:34.460 --> 01:39:35.480
And take their assets

01:39:35.480 --> 01:39:36.100
Yep

01:39:36.100 --> 01:39:37.380
I called

01:39:37.380 --> 01:39:37.820
When

01:39:37.820 --> 01:39:38.880
When Bobby Cox

01:39:38.880 --> 01:39:39.580
Made the presentation

01:39:39.580 --> 01:39:40.820
To me of what that was

01:39:40.820 --> 01:39:41.080
I said

01:39:41.080 --> 01:39:41.400
Bobby

01:39:41.400 --> 01:39:43.160
This has nothing to do with health

01:39:43.160 --> 01:39:44.760
This is so they can grab

01:39:44.760 --> 01:39:46.040
Anybody in the financial markets

01:39:46.040 --> 01:39:47.240
And make them do what they want

01:39:47.240 --> 01:39:47.780
Yes

01:39:47.780 --> 01:39:48.260
Exactly

01:39:48.260 --> 01:39:48.560
This is

01:39:48.560 --> 01:39:49.800
This is a New York

01:39:49.800 --> 01:39:51.100
Fed administrative rule

01:39:51.100 --> 01:39:51.740
Yeah

01:39:51.740 --> 01:39:52.500
Right

01:39:52.500 --> 01:39:53.740
Same thing

01:39:53.740 --> 01:39:55.660
It's exactly the same thing

01:39:55.660 --> 01:39:57.280
And it's a sign

01:39:57.280 --> 01:39:57.860
That

01:39:57.860 --> 01:39:59.140
The power elite

01:39:59.140 --> 01:39:59.720
Know

01:39:59.720 --> 01:40:02.460
That people are waking up

01:40:02.460 --> 01:40:03.740
And waking up

01:40:03.740 --> 01:40:04.920
Very fast

01:40:04.920 --> 01:40:06.860
Because if they're grabbing

01:40:06.860 --> 01:40:08.140
For that kind of power

01:40:08.140 --> 01:40:08.640
That

01:40:08.640 --> 01:40:09.640
That can only mean

01:40:09.640 --> 01:40:10.760
They're beginning to get

01:40:10.760 --> 01:40:11.720
Very concerned

01:40:11.720 --> 01:40:13.200
About the stability

01:40:13.200 --> 01:40:14.060
Of their position

01:40:14.060 --> 01:40:15.340
So you know

01:40:15.340 --> 01:40:16.600
I think Mr. Cook

01:40:16.600 --> 01:40:17.740
Is absolutely right

01:40:17.740 --> 01:40:20.420
The

01:40:20.420 --> 01:40:21.280
The political

01:40:21.280 --> 01:40:21.960
And cultural

01:40:21.960 --> 01:40:22.580
Landscape

01:40:22.580 --> 01:40:23.440
Are changing

01:40:23.440 --> 01:40:24.640
And they're changing

01:40:24.640 --> 01:40:25.780
Very very quickly

01:40:25.780 --> 01:40:26.820
Frankly

01:40:26.820 --> 01:40:27.540
I don't think

01:40:27.540 --> 01:40:28.380
I don't think

01:40:28.380 --> 01:40:29.280
Mr. Global

01:40:29.280 --> 01:40:30.180
Only for all his

01:40:30.180 --> 01:40:31.020
Technological

01:40:31.020 --> 01:40:34.640
Surveillance muscle

01:40:34.640 --> 01:40:35.680
Has a prayer

01:40:35.680 --> 01:40:37.780
I really don't

01:40:37.780 --> 01:40:38.500
It's going to go

01:40:38.500 --> 01:40:39.140
Too fast

01:40:39.140 --> 01:40:40.040
It's going to go

01:40:40.040 --> 01:40:40.660
Too fast

01:40:40.660 --> 01:40:41.720
Vandalin

01:40:41.720 --> 01:40:42.700
Just tried to

01:40:42.700 --> 01:40:43.380
Pass a law

01:40:43.380 --> 01:40:43.980
Saying that they

01:40:43.980 --> 01:40:44.600
Could read

01:40:44.600 --> 01:40:45.180
Your chats

01:40:45.180 --> 01:40:45.640
As they were

01:40:45.640 --> 01:40:46.100
Happening

01:40:46.100 --> 01:40:47.200
And it

01:40:47.200 --> 01:40:48.660
It failed

01:40:48.660 --> 01:40:49.380
And so she

01:40:49.380 --> 01:40:49.760
Brought it

01:40:49.760 --> 01:40:50.360
Back again

01:40:50.360 --> 01:40:50.820
And stuffed

01:40:50.820 --> 01:40:51.280
It through

01:40:51.280 --> 01:40:52.300
It's a little

01:40:52.300 --> 01:40:52.840
Bit like the

01:40:52.840 --> 01:40:53.240
Bailouts

01:40:53.240 --> 01:40:54.100
Okay so let's

01:40:54.100 --> 01:40:54.760
Turn to story

01:40:54.760 --> 01:40:55.440
Number three

01:40:55.440 --> 01:40:56.200
Called

01:40:56.200 --> 01:40:57.260
Inflation Rises

01:40:57.260 --> 01:41:00.160
And we had a

01:41:00.160 --> 01:41:00.760
Major

01:41:00.760 --> 01:41:02.040
A really

01:41:02.040 --> 01:41:02.540
Wonderful

01:41:02.540 --> 01:41:03.340
Salary report

01:41:03.340 --> 01:41:04.080
With Carlos

01:41:04.080 --> 01:41:06.040
And

01:41:06.040 --> 01:41:07.580
And his part

01:41:07.580 --> 01:41:08.280
From Finance

01:41:08.280 --> 01:41:09.060
Technologies

01:41:09.060 --> 01:41:12.520
Why am I

01:41:12.520 --> 01:41:13.200
I'm always

01:41:13.200 --> 01:41:14.260
Mispronouncing

01:41:14.260 --> 01:41:14.740
Carlos

01:41:14.740 --> 01:41:18.500
Algaria

01:41:18.500 --> 01:41:21.360
Allegria

01:41:21.360 --> 01:41:21.360
Allegria

01:41:21.360 --> 01:41:22.580
Allegria

01:41:22.580 --> 01:41:23.260
Okay

01:41:23.260 --> 01:41:24.020
Allegria

01:41:24.020 --> 01:41:25.620
And Ed Dowd

01:41:25.620 --> 01:41:26.220
From Finance

01:41:26.220 --> 01:41:26.860
Technologies

01:41:26.860 --> 01:41:27.440
And

01:41:27.440 --> 01:41:28.060
And

01:41:28.060 --> 01:41:28.640
And

01:41:28.640 --> 01:41:30.000
Carlos makes a

01:41:30.000 --> 01:41:30.680
Very compelling

01:41:30.680 --> 01:41:31.820
Point that

01:41:31.820 --> 01:41:32.820
Inflation

01:41:32.820 --> 01:41:34.500
Is going to run

01:41:34.500 --> 01:41:34.920
Up as

01:41:34.920 --> 01:41:35.680
As a short

01:41:35.680 --> 01:41:36.400
Term because

01:41:36.400 --> 01:41:37.180
Of the shock

01:41:37.180 --> 01:41:37.580
The oil

01:41:37.580 --> 01:41:37.960
Shock

01:41:37.960 --> 01:41:38.820
From the

01:41:38.820 --> 01:41:39.380
War

01:41:39.380 --> 01:41:40.540
But he

01:41:40.540 --> 01:41:40.960
Doesn't think

01:41:40.960 --> 01:41:41.260
It's going

01:41:41.260 --> 01:41:41.760
To be long

01:41:41.760 --> 01:41:42.180
Lived

01:41:42.180 --> 01:41:42.560
And one

01:41:42.560 --> 01:41:42.760
Of the

01:41:42.760 --> 01:41:43.080
Reasons

01:41:43.080 --> 01:41:43.620
Is

01:41:43.620 --> 01:41:44.540
If you

01:41:44.540 --> 01:41:44.900
Look at

01:41:44.900 --> 01:41:45.240
Some of

01:41:45.240 --> 01:41:45.760
The ways

01:41:45.760 --> 01:41:46.140
Joseph

01:41:46.140 --> 01:41:46.680
That they

01:41:46.680 --> 01:41:47.140
Have

01:41:47.140 --> 01:41:47.600
Of

01:41:47.600 --> 01:41:48.200
Engineering

01:41:48.200 --> 01:41:49.520
Deflation

01:41:49.520 --> 01:41:50.520
They

01:41:50.520 --> 01:41:51.020
Continue

01:41:51.020 --> 01:41:51.360
To be

01:41:51.360 --> 01:41:51.660
Very

01:41:51.660 --> 01:41:52.100
Powerful

01:41:52.100 --> 01:41:52.480
So I

01:41:52.480 --> 01:41:52.640
Want

01:41:52.640 --> 01:41:52.780
To

01:41:52.780 --> 01:41:53.020
Show

01:41:53.020 --> 01:41:53.240
You

01:41:53.240 --> 01:41:53.620
Two

01:41:53.620 --> 01:41:54.360
Videos

01:41:54.360 --> 01:41:55.900
So let's

01:41:55.900 --> 01:41:56.260
Look at

01:41:56.260 --> 01:41:56.900
13

01:41:56.900 --> 01:41:57.800
Video number

01:41:57.800 --> 01:41:58.440
13

01:41:58.440 --> 01:41:59.720
And then

01:41:59.720 --> 01:42:00.580
After that

01:42:00.580 --> 01:42:00.960
I'll talk

01:42:00.960 --> 01:42:01.220
About

01:42:01.220 --> 01:42:01.880
14

01:42:01.880 --> 01:42:04.020
Well you

01:42:04.020 --> 01:42:04.400
Know that

01:42:04.400 --> 01:42:04.740
I've been

01:42:04.740 --> 01:42:05.200
Saying for

01:42:05.200 --> 01:42:05.540
A long

01:42:05.540 --> 01:42:05.860
Time

01:42:05.860 --> 01:42:06.140
That I

01:42:06.140 --> 01:42:06.360
Think

01:42:06.360 --> 01:42:06.520
They're

01:42:06.520 --> 01:42:06.620
Going

01:42:06.620 --> 01:42:06.740
To

01:42:06.740 --> 01:42:07.280
Deflate

01:42:07.280 --> 01:42:08.480
Right

01:42:08.480 --> 01:42:08.800
I've

01:42:08.800 --> 01:42:08.900
Been

01:42:08.900 --> 01:42:09.140
Saying

01:42:09.140 --> 01:42:09.300
That

01:42:09.300 --> 01:42:09.420
For

01:42:09.420 --> 01:42:09.600
About

01:42:09.600 --> 01:42:09.740
A

01:42:09.740 --> 01:42:10.140
Decade

01:42:10.140 --> 01:42:10.800
Right

01:42:10.800 --> 01:42:10.980
Well

01:42:10.980 --> 01:42:11.300
That's

01:42:11.300 --> 01:42:11.560
Part

01:42:11.560 --> 01:42:11.740
Of

01:42:11.740 --> 01:42:11.900
You

01:42:11.900 --> 01:42:12.020
Know

01:42:12.020 --> 01:42:12.320
Using

01:42:12.320 --> 01:42:12.680
Gold

01:42:12.680 --> 01:42:12.920
To

01:42:12.920 --> 01:42:13.360
Deflate

01:42:13.360 --> 01:42:13.680
That's

01:42:13.680 --> 01:42:13.880
Very

01:42:13.880 --> 01:42:14.240
Powerful

01:42:14.240 --> 01:42:14.620
Okay

01:42:14.620 --> 01:42:14.900
So

01:42:14.900 --> 01:42:15.820
Here's

01:42:15.820 --> 01:42:16.320
Here's

01:42:16.320 --> 01:42:16.900
13

01:42:16.900 --> 01:42:18.600
It's

01:42:18.600 --> 01:42:18.640
It's

01:42:18.640 --> 01:42:18.980
It's

01:42:18.980 --> 01:42:19.540
About

01:42:19.540 --> 01:42:19.980
The

01:42:19.980 --> 01:42:20.400
Oil

01:42:20.400 --> 01:42:21.000
Shock

01:42:21.000 --> 01:42:22.380
But

01:42:22.380 --> 01:42:23.320
You know

01:42:23.320 --> 01:42:23.660
It's

01:42:23.660 --> 01:42:24.160
Describing

01:42:24.160 --> 01:42:24.660
A scenario

01:42:24.660 --> 01:42:24.980
That's

01:42:24.980 --> 01:42:25.420
Exactly

01:42:25.420 --> 01:42:25.820
What we

01:42:25.820 --> 01:42:26.000
Saw

01:42:26.000 --> 01:42:26.220
In the

01:42:26.220 --> 01:42:26.660
Pandemic

01:42:26.660 --> 01:42:27.000
So

01:42:27.000 --> 01:42:27.220
Let's

01:42:27.220 --> 01:42:27.500
Go ahead

01:42:27.500 --> 01:42:27.780
And play

01:42:27.780 --> 01:42:28.000
This

01:42:28.000 --> 01:42:28.260
One

01:42:28.260 --> 01:42:30.460
Spirit

01:42:30.460 --> 01:42:30.960
Airlines

01:42:30.960 --> 01:42:31.400
Just

01:42:31.400 --> 01:42:31.980
Collapsed

01:42:31.980 --> 01:42:32.800
Couldn't

01:42:32.800 --> 01:42:33.100
Afford

01:42:33.100 --> 01:42:33.480
The jet

01:42:33.480 --> 01:42:33.860
Fuel

01:42:33.860 --> 01:42:35.020
The next

01:42:35.020 --> 01:42:35.300
Ticket

01:42:35.300 --> 01:42:35.500
You

01:42:35.500 --> 01:42:35.880
Book

01:42:35.880 --> 01:42:36.300
Will

01:42:36.300 --> 01:42:36.540
Cost

01:42:36.540 --> 01:42:36.840
Twice

01:42:36.840 --> 01:42:37.040
As

01:42:37.040 --> 01:42:37.460
Much

01:42:37.460 --> 01:42:38.700
Republicans

01:42:38.700 --> 01:42:39.020
Handed

01:42:39.020 --> 01:42:39.200
The

01:42:39.200 --> 01:42:39.640
Entire

01:42:39.640 --> 01:42:40.140
Sky

01:42:40.140 --> 01:42:40.420
To

01:42:40.420 --> 01:42:40.740
Four

01:42:40.740 --> 01:42:41.280
Airlines

01:42:41.280 --> 01:42:41.900
Who

01:42:41.900 --> 01:42:42.120
Know

01:42:42.120 --> 01:42:42.300
You

01:42:42.300 --> 01:42:42.500
Have

01:42:42.500 --> 01:42:42.840
Nowhere

01:42:42.840 --> 01:42:43.120
Else

01:42:43.120 --> 01:42:43.280
To

01:42:43.280 --> 01:42:43.540
Go

01:42:43.540 --> 01:42:44.160
This

01:42:44.160 --> 01:42:44.400
Isn't

01:42:44.400 --> 01:42:44.520
A

01:42:44.520 --> 01:42:45.000
Mistake

01:42:45.000 --> 01:42:45.500
This

01:42:45.500 --> 01:42:45.640
Is

01:42:45.640 --> 01:42:46.200
The plan

01:42:46.200 --> 01:42:47.100
It's the same

01:42:47.100 --> 01:42:47.480
Plan

01:42:47.480 --> 01:42:48.360
They're running on the

01:42:48.360 --> 01:42:49.100
Family farm

01:42:49.100 --> 01:42:50.480
The fishing boat

01:42:50.480 --> 01:42:52.220
And every small business

01:42:52.220 --> 01:42:53.180
On your main street

01:42:53.180 --> 01:42:55.340
A small farmer cannot absorb

01:42:55.340 --> 01:42:56.200
Diesel doubling

01:42:56.200 --> 01:42:58.680
A fishing boat cannot absorb fuel

01:42:58.680 --> 01:43:00.840
Going from 4,000 to 8,000

01:43:00.840 --> 01:43:03.080
A budget airline cannot absorb

01:43:03.080 --> 01:43:05.220
A 100 million dollar fuel hit

01:43:05.220 --> 01:43:06.160
In two months

01:43:06.160 --> 01:43:08.260
But a giant corporation can

01:43:08.260 --> 01:43:10.040
So when fuel spikes

01:43:10.040 --> 01:43:12.100
The small operator goes bankrupt

01:43:12.100 --> 01:43:14.980
The corporate operator buys the land

01:43:14.980 --> 01:43:15.860
The boat

01:43:15.860 --> 01:43:16.800
The route

01:43:16.800 --> 01:43:17.800
The business

01:43:17.800 --> 01:43:19.800
At fire sale prices

01:43:19.800 --> 01:43:22.240
Then Project 2025

01:43:22.240 --> 01:43:23.980
Finishes the job

01:43:23.980 --> 01:43:27.420
The 920 page Republican blueprint

01:43:27.420 --> 01:43:28.560
Trump disavowed

01:43:28.560 --> 01:43:30.920
Is only the half they let you read

01:43:30.920 --> 01:43:33.240
The other half is secret

01:43:33.240 --> 01:43:35.600
Architect Russ Vogt

01:43:35.600 --> 01:43:37.160
Was caught on hidden camera

01:43:37.160 --> 01:43:38.780
Admitting they designed it

01:43:38.780 --> 01:43:40.400
So the documents wouldn't be

01:43:40.400 --> 01:43:40.940
Quote

01:43:40.940 --> 01:43:43.120
F-O-I-A-able

01:43:43.120 --> 01:43:45.420
The half we can see

01:43:45.520 --> 01:43:47.600
Repeals crop insurance

01:43:47.600 --> 01:43:50.400
Cuts farm service agency loans

01:43:50.400 --> 01:43:53.580
Kills small business administration lending

01:43:53.580 --> 01:43:59.000
And ends the essential air service that keeps rural airports alive

01:43:59.000 --> 01:44:02.720
The half we can't see is already executing

01:44:02.720 --> 01:44:07.560
Trace the ownership of the buyers and the same three names appear

01:44:07.560 --> 01:44:08.960
Blackrock

01:44:08.960 --> 01:44:10.360
Vanguard

01:44:10.360 --> 01:44:12.280
State Street

01:44:12.280 --> 01:44:15.500
Together they manage over 30 trillion dollars and hold the

01:44:15.500 --> 01:44:18.160
Largest stakes in oil companies cashing in

01:44:18.160 --> 01:44:20.360
Airlines consolidating

01:44:20.360 --> 01:44:24.400
And agribusiness giants devouring family farms

01:44:24.400 --> 01:44:26.320
They want it all

01:44:26.320 --> 01:44:30.200
The high price at the pump is how they're getting it

01:44:30.200 --> 01:44:32.080
Yep

01:44:32.080 --> 01:44:35.280
Yeah so in story number four we're going to talk about

01:44:35.280 --> 01:44:37.080
Why you're putting your money there

01:44:37.080 --> 01:44:41.100
Okay but another thing is

01:44:41.100 --> 01:44:42.520
What

01:44:42.520 --> 01:44:44.620
What Carlos and Ed had done

01:44:45.480 --> 01:44:50.200
I think about six months before we done a big one on China

01:44:50.200 --> 01:44:53.560
And China is exporting deflation

01:44:53.560 --> 01:44:55.460
I can believe that

01:44:55.460 --> 01:44:56.480
It's unbelievable

01:44:56.480 --> 01:45:00.140
And you know so their real estate market has really collapsed

01:45:00.140 --> 01:45:02.580
And they have this manufacturing juggernaut

01:45:02.580 --> 01:45:04.560
Which gets more and more competitive

01:45:04.560 --> 01:45:05.620
More and more competitive

01:45:05.620 --> 01:45:06.660
More and more competitive

01:45:06.660 --> 01:45:10.040
I just got a wonderful subscriber who posted

01:45:10.040 --> 01:45:14.400
He couldn't get somebody to come and do

01:45:14.400 --> 01:45:15.840
I think he needed a backhoe

01:45:15.840 --> 01:45:18.340
And it was going to cost $7,500

01:45:18.340 --> 01:45:20.180
And he got on Timu

01:45:20.180 --> 01:45:23.860
Or figured out how to buy a Chinese piece of equipment

01:45:23.860 --> 01:45:26.100
For $6,500 and do the job himself

01:45:26.100 --> 01:45:28.540
And now of course he owns the piece of equipment

01:45:28.540 --> 01:45:30.680
But then he talked about all the things

01:45:30.680 --> 01:45:32.340
He and his kids are buying on Timu

01:45:32.340 --> 01:45:33.340
From China

01:45:33.340 --> 01:45:35.840
At dramatically lower prices

01:45:35.840 --> 01:45:37.660
So I

01:45:37.660 --> 01:45:40.620
And I've bought things

01:45:40.620 --> 01:45:42.340
From China

01:45:42.340 --> 01:45:43.320
Through Etsy

01:45:43.320 --> 01:45:44.080
Etsy

01:45:44.080 --> 01:45:45.460
And there's no mail problem

01:45:45.460 --> 01:45:46.300
I can't get

01:45:46.300 --> 01:45:47.620
I have real problems

01:45:47.620 --> 01:45:48.980
Getting mail from the United States

01:45:48.980 --> 01:45:50.580
But it's no problem coming in

01:45:50.580 --> 01:45:51.500
In the Netherlands

01:45:51.500 --> 01:45:52.040
From China

01:45:52.040 --> 01:45:52.440
Catherine

01:45:52.440 --> 01:45:54.140
I've bought models

01:45:54.140 --> 01:45:55.580
You know

01:45:55.580 --> 01:45:56.260
You know me

01:45:56.260 --> 01:45:57.520
I like to put together models

01:45:57.520 --> 01:45:58.820
I've bought models

01:45:58.820 --> 01:46:00.020
Directly from China

01:46:00.020 --> 01:46:01.380
Right

01:46:01.380 --> 01:46:02.820
And there's no mailing problems

01:46:02.820 --> 01:46:04.600
There's no problem whatsoever

01:46:04.600 --> 01:46:06.440
They fill out the customs form

01:46:06.440 --> 01:46:07.420
And it's done

01:46:07.420 --> 01:46:08.560
So

01:46:08.560 --> 01:46:09.400
So anyway

01:46:09.400 --> 01:46:10.780
So I went to Timu

01:46:10.780 --> 01:46:11.820
To see

01:46:11.820 --> 01:46:12.700
So I've been buying

01:46:12.700 --> 01:46:13.740
Scarves on Etsy

01:46:13.740 --> 01:46:15.320
I went to Timu

01:46:15.320 --> 01:46:16.740
And I've got to check it out

01:46:16.740 --> 01:46:17.280
Some more

01:46:17.280 --> 01:46:18.240
One

01:46:18.240 --> 01:46:19.740
They have a special partnership

01:46:19.740 --> 01:46:21.280
With the Netherlands Mail Service

01:46:21.280 --> 01:46:22.860
No problem on mail

01:46:22.860 --> 01:46:24.440
But two

01:46:24.440 --> 01:46:25.960
I could get

01:46:25.960 --> 01:46:28.580
A scarf on Timu

01:46:28.580 --> 01:46:30.080
For one tenth

01:46:30.080 --> 01:46:31.660
Of what I'm paying on Etsy

01:46:31.660 --> 01:46:32.780
Yeah

01:46:32.780 --> 01:46:33.720
So

01:46:33.720 --> 01:46:35.380
Talk about deflation

01:46:35.380 --> 01:46:36.140
Yeah

01:46:36.140 --> 01:46:36.900
You know

01:46:36.900 --> 01:46:38.420
If you look at the feedback

01:46:38.420 --> 01:46:39.220
I'm getting

01:46:39.220 --> 01:46:40.380
And it's got nothing to do

01:46:40.380 --> 01:46:40.820
With AI

01:46:40.820 --> 01:46:41.500
I mean

01:46:41.500 --> 01:46:43.900
I'm not saying software automation isn't in there

01:46:43.900 --> 01:46:44.220
But

01:46:44.220 --> 01:46:45.400
You know

01:46:45.400 --> 01:46:49.200
There is a very powerful deflation coming from automation

01:46:49.200 --> 01:46:51.560
And it's definitely coming from China

01:46:51.560 --> 01:46:54.420
So let me just show our old pal Hank Paulson

01:46:54.420 --> 01:46:56.380
Who thought he could let AIG go under

01:46:56.380 --> 01:46:59.360
Secretary of the Treasury during the bailouts

01:46:59.360 --> 01:47:01.280
He was just interviewed

01:47:01.280 --> 01:47:03.020
Talking about China

01:47:03.020 --> 01:47:04.000
And you know

01:47:04.000 --> 01:47:06.320
Before you believe there's a war with China

01:47:06.320 --> 01:47:07.520
Listen to Hank Paulson

01:47:07.520 --> 01:47:08.720
You mentioned China

01:47:08.720 --> 01:47:13.300
Where is that relationship between the United States and China right now

01:47:13.300 --> 01:47:15.420
Because it has been at odds sometimes

01:47:15.420 --> 01:47:18.560
Well it's clearly so here's the way you look at it

01:47:18.560 --> 01:47:20.400
You and I have talked before how it is

01:47:20.400 --> 01:47:21.620
By far the

01:47:21.620 --> 01:47:23.100
It's going to

01:47:23.100 --> 01:47:25.940
It's going to really set the geopolitical

01:47:25.940 --> 01:47:29.180
And geoeconomic landscape for the foreseeable future

01:47:29.180 --> 01:47:31.980
But this relationship is fraught right

01:47:31.980 --> 01:47:34.000
That's going to be fraught for the foreseeable future

01:47:34.000 --> 01:47:35.500
No doubt about it

01:47:35.500 --> 01:47:37.460
But they are a

01:47:37.460 --> 01:47:39.560
Strategic economic competitor

01:47:39.560 --> 01:47:41.600
They're the adversary when it comes to

01:47:41.600 --> 01:47:43.220
To military and security

01:47:43.220 --> 01:47:44.360
But

01:47:44.360 --> 01:47:47.180
Our economies are deeply linked

01:47:47.180 --> 01:47:49.600
Which creates a kind of tension

01:47:49.600 --> 01:47:51.200
But also

01:47:51.200 --> 01:47:52.840
A sort of stability

01:47:52.840 --> 01:47:54.780
Because each country

01:47:54.780 --> 01:47:57.120
Knows that the other can do things

01:47:57.120 --> 01:47:59.260
To seriously damage their economy

01:47:59.260 --> 01:48:03.040
Neither country can afford a trade war right now

01:48:03.040 --> 01:48:05.440
Each knows that if it spins out of control

01:48:05.440 --> 01:48:07.280
While it reverberates through the

01:48:07.280 --> 01:48:09.680
Through the global economy

01:48:09.680 --> 01:48:11.860
And so there's a

01:48:11.860 --> 01:48:14.480
This is what I would call

01:48:14.480 --> 01:48:19.720
A period of mutually assured economic disruption

01:48:19.720 --> 01:48:20.860
Right

01:48:20.860 --> 01:48:24.560
Which results in a kind of stability

01:48:24.560 --> 01:48:29.520
And not from the fact that each side trusts each other

01:48:29.520 --> 01:48:30.840
Quite the opposite

01:48:30.840 --> 01:48:33.460
But because the costs of escalation

01:48:33.460 --> 01:48:34.920
Are so high

01:48:34.920 --> 01:48:38.160
So I would say it this way

01:48:38.160 --> 01:48:38.900
Mr. Global

01:48:38.900 --> 01:48:43.380
Considers China deeply important to running the planet

01:48:43.380 --> 01:48:45.060
Right

01:48:45.060 --> 01:48:46.520
Right

01:48:46.520 --> 01:48:47.740
But here's the thing

01:48:47.740 --> 01:48:48.800
China has

01:48:48.800 --> 01:48:51.480
Is what has kept the cost of goods sold

01:48:51.480 --> 01:48:53.840
As low as it is in the United States

01:48:53.840 --> 01:48:54.600
And if you

01:48:54.600 --> 01:48:56.740
If you break that relationship

01:48:56.740 --> 01:48:58.420
Inflation flies through the roof

01:48:58.420 --> 01:49:00.740
The other problem

01:49:00.740 --> 01:49:02.380
The biggest problem

01:49:02.380 --> 01:49:04.400
Mr. Global Loney has right now

01:49:04.400 --> 01:49:04.960
Is

01:49:04.960 --> 01:49:08.080
This is going to sound

01:49:08.080 --> 01:49:09.740
In a certain sense absurd

01:49:09.740 --> 01:49:12.100
But I truly think that this is the problem

01:49:12.100 --> 01:49:13.520
That Mr. Global Loney has

01:49:13.520 --> 01:49:17.040
Because Mr. Global Loney is treating China

01:49:17.040 --> 01:49:18.840
Like they were treating China

01:49:18.840 --> 01:49:20.460
During the Boxer Rebellion

01:49:20.460 --> 01:49:22.320
Right

01:49:22.320 --> 01:49:24.260
China is

01:49:24.260 --> 01:49:26.200
To them it's a colony

01:49:26.200 --> 01:49:27.440
It's an economic colony

01:49:27.440 --> 01:49:29.980
And they continue to treat China that way

01:49:29.980 --> 01:49:32.020
Oh come and be part of our global

01:49:32.020 --> 01:49:34.140
China is not going to take

01:49:34.140 --> 01:49:34.580
A

01:49:34.580 --> 01:49:37.440
Second rank role

01:49:37.440 --> 01:49:39.840
In the administration

01:49:39.840 --> 01:49:40.620
Of this

01:49:40.620 --> 01:49:41.660
Of this global

01:49:41.660 --> 01:49:43.580
System that they want to build out

01:49:43.580 --> 01:49:45.480
They just are not going to do it

01:49:45.480 --> 01:49:47.020
And

01:49:47.020 --> 01:49:50.320
I think Mr. Global Loney continues to think that they will

01:49:50.320 --> 01:49:51.480
And

01:49:51.480 --> 01:49:52.620
And that's the problem

01:49:52.620 --> 01:49:54.140
That's the real tension

01:49:54.140 --> 01:49:56.220
It's not even so much the United States

01:49:56.220 --> 01:49:57.340
It's

01:49:57.340 --> 01:49:57.820
It's the

01:49:57.820 --> 01:49:59.360
It's the Davos set

01:49:59.360 --> 01:50:02.080
That thinks that they're going to engineer China into that

01:50:02.080 --> 01:50:02.340
And

01:50:02.340 --> 01:50:04.240
And they're just not going to be able to do it

01:50:04.240 --> 01:50:04.560
Well

01:50:04.560 --> 01:50:06.440
If you look at the Brits

01:50:06.440 --> 01:50:07.840
The Brits are really

01:50:08.960 --> 01:50:10.600
Partnering with the Chinese

01:50:10.600 --> 01:50:11.360
Yes

01:50:11.360 --> 01:50:12.360
Yeah

01:50:12.360 --> 01:50:13.300
Right

01:50:13.300 --> 01:50:14.800
Remember that dinner with the Queen

01:50:14.800 --> 01:50:16.980
And the Queen saying we're both old civilizations

01:50:16.980 --> 01:50:18.180
And the Americans are not

01:50:18.180 --> 01:50:19.440
The Brits

01:50:19.440 --> 01:50:21.680
The Brits are giving quite a lot of

01:50:21.680 --> 01:50:22.840
Slack to the Chinese

01:50:22.840 --> 01:50:23.460
Yeah

01:50:23.460 --> 01:50:24.280
Yeah

01:50:24.280 --> 01:50:25.220
I agree

01:50:25.220 --> 01:50:28.080
And that's a little bit different than the Davos set

01:50:28.080 --> 01:50:28.700
But it's

01:50:28.700 --> 01:50:31.740
It is different than the Davos set

01:50:31.740 --> 01:50:32.200
And it's

01:50:32.200 --> 01:50:32.480
It's

01:50:32.480 --> 01:50:34.320
It's another indicator of just

01:50:34.320 --> 01:50:35.240
Just how

01:50:35.240 --> 01:50:37.240
Fractured this

01:50:37.240 --> 01:50:38.700
This system is becoming

01:50:38.700 --> 01:50:40.000
In my opinion

01:50:40.000 --> 01:50:41.040
Okay

01:50:41.040 --> 01:50:41.420
So

01:50:41.420 --> 01:50:42.340
Go ahead

01:50:42.340 --> 01:50:43.560
So

01:50:43.560 --> 01:50:45.380
So we've got monetary inflation

01:50:45.380 --> 01:50:47.700
And we have

01:50:47.700 --> 01:50:49.280
These deflationary pressures

01:50:49.280 --> 01:50:51.680
And we have many people

01:50:51.680 --> 01:50:53.500
Predicting hyperinflation

01:50:53.500 --> 01:50:54.520
Which I don't think

01:50:54.520 --> 01:50:56.280
Given the deflationary

01:50:56.280 --> 01:50:58.180
Pressures

01:50:58.180 --> 01:51:00.940
But right into the middle of this

01:51:00.940 --> 01:51:01.700
We plop

01:51:01.700 --> 01:51:02.820
A new Fed chairman

01:51:02.820 --> 01:51:04.160
Warsh

01:51:04.160 --> 01:51:05.280
I'm so glad

01:51:05.280 --> 01:51:06.020
That you decided

01:51:06.020 --> 01:51:06.660
To do that

01:51:06.660 --> 01:51:08.920
This

01:51:08.920 --> 01:51:09.820
This guy

01:51:09.820 --> 01:51:11.300
I have to tell you

01:51:11.300 --> 01:51:12.860
I tried to watch

01:51:12.860 --> 01:51:13.380
A little bit

01:51:13.380 --> 01:51:14.080
Of some

01:51:14.080 --> 01:51:15.000
Of what I think

01:51:15.000 --> 01:51:16.280
You're about ready to play

01:51:16.280 --> 01:51:18.320
And my first

01:51:18.320 --> 01:51:19.420
And I don't know

01:51:19.420 --> 01:51:20.200
Maybe you agree

01:51:20.200 --> 01:51:21.080
Maybe you don't agree

01:51:21.080 --> 01:51:22.160
But my first impression

01:51:22.160 --> 01:51:23.000
Was this guy

01:51:23.000 --> 01:51:24.480
Knows that the old models

01:51:24.480 --> 01:51:25.620
Are not working anymore

01:51:25.620 --> 01:51:27.340
And we can't use them

01:51:27.340 --> 01:51:28.940
Well remember

01:51:28.940 --> 01:51:29.700
This guy was

01:51:29.700 --> 01:51:30.180
In the room

01:51:30.180 --> 01:51:30.800
With Paulson

01:51:30.800 --> 01:51:31.820
To do the bailouts

01:51:31.820 --> 01:51:32.820
Yeah

01:51:32.820 --> 01:51:33.720
Right

01:51:33.720 --> 01:51:35.120
So this was a bailout player

01:51:35.120 --> 01:51:35.480
Okay

01:51:35.480 --> 01:51:36.920
So let's just watch

01:51:36.920 --> 01:51:38.680
The video number 15

01:51:38.680 --> 01:51:39.620
Of Warsh

01:51:39.620 --> 01:51:41.280
During his first

01:51:41.280 --> 01:51:42.340
Press conference

01:51:42.340 --> 01:51:42.960
Yeah

01:51:42.960 --> 01:51:45.840
We recognize

01:51:45.840 --> 01:51:47.240
That inflation

01:51:47.240 --> 01:51:47.960
Has been running

01:51:47.960 --> 01:51:48.720
Well ahead

01:51:48.720 --> 01:51:50.020
Of the Fed's

01:51:50.020 --> 01:51:50.820
Long stated

01:51:50.820 --> 01:51:51.600
Inflation goal

01:51:51.600 --> 01:51:52.280
Of 2%

01:51:52.280 --> 01:51:54.020
That's been going on

01:51:54.020 --> 01:51:54.520
For more than

01:51:54.520 --> 01:51:55.300
Five years

01:51:55.300 --> 01:51:58.400
Persistently

01:51:58.400 --> 01:51:59.120
High prices

01:51:59.120 --> 01:52:00.500
Are a burden

01:52:00.500 --> 01:52:01.260
For the American

01:52:01.260 --> 01:52:01.660
People

01:52:01.660 --> 01:52:03.880
But the recent

01:52:03.880 --> 01:52:04.340
Past

01:52:04.340 --> 01:52:05.060
Need not be

01:52:05.060 --> 01:52:06.060
Prologue

01:52:06.060 --> 01:52:07.620
I am pleased

01:52:07.620 --> 01:52:08.180
To report

01:52:08.180 --> 01:52:09.740
That members

01:52:09.740 --> 01:52:10.100
Of the

01:52:10.100 --> 01:52:10.900
FOMC

01:52:10.900 --> 01:52:12.280
Are unambiguous

01:52:12.280 --> 01:52:14.020
And unanimous

01:52:14.020 --> 01:52:15.460
This committee

01:52:15.460 --> 01:52:16.580
Will deliver

01:52:16.580 --> 01:52:17.680
Price stability

01:52:17.680 --> 01:52:20.260
So

01:52:20.260 --> 01:52:21.060
What I

01:52:21.060 --> 01:52:21.980
Hear is

01:52:21.980 --> 01:52:22.700
We will have

01:52:22.700 --> 01:52:23.480
A control grid

01:52:23.480 --> 01:52:23.760
Now

01:52:23.760 --> 01:52:24.820
That was my

01:52:24.820 --> 01:52:25.160
Theory

01:52:25.160 --> 01:52:25.520
Because

01:52:25.520 --> 01:52:27.040
Warsh is saying

01:52:27.040 --> 01:52:27.960
So the Fed

01:52:27.960 --> 01:52:28.560
Balance sheet

01:52:28.560 --> 01:52:29.300
Has been rising

01:52:29.300 --> 01:52:29.940
Dramatically

01:52:29.940 --> 01:52:31.240
There's a

01:52:31.240 --> 01:52:31.840
You know

01:52:31.840 --> 01:52:32.620
Here's the

01:52:32.620 --> 01:52:33.600
U.S. Stock market

01:52:33.600 --> 01:52:34.780
And here's the

01:52:34.780 --> 01:52:35.680
Fed balance sheet

01:52:35.680 --> 01:52:36.340
Okay

01:52:36.340 --> 01:52:37.760
And it's like

01:52:37.760 --> 01:52:38.440
It's like

01:52:38.440 --> 01:52:38.920
Two

01:52:38.920 --> 01:52:39.400
You know

01:52:39.400 --> 01:52:40.060
Jet fighters

01:52:40.060 --> 01:52:41.000
At an air show

01:52:41.000 --> 01:52:41.640
You know

01:52:41.640 --> 01:52:42.520
Flying together

01:52:42.520 --> 01:52:43.620
And so

01:52:43.620 --> 01:52:44.560
Warsh has been saying

01:52:44.560 --> 01:52:45.300
He wants to get

01:52:45.300 --> 01:52:46.340
The balance sheet down

01:52:46.340 --> 01:52:47.680
Now given

01:52:47.680 --> 01:52:48.580
That the Treasury

01:52:48.580 --> 01:52:49.300
Has to borrow

01:52:49.300 --> 01:52:50.040
Borrow

01:52:50.040 --> 01:52:50.980
I don't

01:52:50.980 --> 01:52:51.360
You know

01:52:51.360 --> 01:52:51.900
I don't see

01:52:51.900 --> 01:52:52.620
How you do that

01:52:52.620 --> 01:52:53.220
Unless you have

01:52:53.220 --> 01:52:53.740
A full-on

01:52:53.740 --> 01:52:54.400
Control grid

01:52:54.400 --> 01:52:54.740
But

01:52:54.740 --> 01:52:56.300
Put that aside

01:52:56.300 --> 01:52:56.880
For a second

01:52:56.880 --> 01:52:57.820
So

01:52:57.820 --> 01:52:58.840
He announces

01:52:58.840 --> 01:52:59.380
So he

01:52:59.380 --> 01:52:59.960
He announced

01:52:59.960 --> 01:53:01.060
At his first press conference

01:53:01.060 --> 01:53:01.760
He's going to invite

01:53:01.760 --> 01:53:02.520
All these people

01:53:02.520 --> 01:53:03.620
To help

01:53:03.620 --> 01:53:04.520
Rethink

01:53:04.520 --> 01:53:05.800
How their models

01:53:05.800 --> 01:53:06.320
Work

01:53:06.320 --> 01:53:07.260
And how their

01:53:07.260 --> 01:53:08.440
Processes work

01:53:08.440 --> 01:53:09.120
Bingo

01:53:09.120 --> 01:53:09.680
There we are

01:53:09.680 --> 01:53:10.720
So this week

01:53:10.720 --> 01:53:11.660
He just made

01:53:11.660 --> 01:53:12.900
A huge announcement

01:53:12.900 --> 01:53:13.540
And you know

01:53:13.540 --> 01:53:14.060
Who the two

01:53:14.060 --> 01:53:15.160
Lead players were

01:53:15.160 --> 01:53:17.880
No

01:53:17.880 --> 01:53:19.180
But I can guess

01:53:19.180 --> 01:53:20.560
I'm going to say

01:53:20.560 --> 01:53:21.180
BlackRock

01:53:21.180 --> 01:53:21.800
One of them

01:53:21.800 --> 01:53:23.040
One is

01:53:23.040 --> 01:53:23.700
Merwin King

01:53:23.700 --> 01:53:24.600
The former governor

01:53:24.600 --> 01:53:25.820
Of the Bank of England

01:53:25.820 --> 01:53:26.400
Okay

01:53:27.080 --> 01:53:28.200
And the other

01:53:28.200 --> 01:53:29.380
Is Mark Andreessen

01:53:29.380 --> 01:53:30.340
Venture capitalist

01:53:30.340 --> 01:53:31.120
Who's the king

01:53:31.120 --> 01:53:31.640
Of crypto

01:53:31.640 --> 01:53:35.320
So if you want

01:53:35.320 --> 01:53:36.120
To go full on

01:53:36.120 --> 01:53:36.740
Control grid

01:53:36.740 --> 01:53:37.620
If you want

01:53:37.620 --> 01:53:38.200
To make your

01:53:38.200 --> 01:53:39.180
Operation

01:53:39.180 --> 01:53:40.000
Acceptable

01:53:40.000 --> 01:53:40.700
To get

01:53:40.700 --> 01:53:41.360
Authorizing

01:53:41.360 --> 01:53:42.040
Legislation

01:53:42.040 --> 01:53:43.020
For CBDC

01:53:43.020 --> 01:53:45.140
Isn't that

01:53:45.140 --> 01:53:45.820
What you would do

01:53:45.820 --> 01:53:46.260
That's what

01:53:46.260 --> 01:53:46.540
Yeah

01:53:46.540 --> 01:53:47.200
Exactly

01:53:47.200 --> 01:53:47.580
Okay

01:53:47.580 --> 01:53:48.640
And Merwin King

01:53:48.640 --> 01:53:49.260
Was the guy

01:53:49.260 --> 01:53:50.320
Who gave the interview

01:53:50.320 --> 01:53:50.800
That said

01:53:50.800 --> 01:53:51.420
Look all this

01:53:51.420 --> 01:53:52.160
Inflation came

01:53:52.160 --> 01:53:52.680
From the

01:53:52.680 --> 01:53:53.880
Injection of the

01:53:53.880 --> 01:53:54.320
Fed at the

01:53:54.320 --> 01:53:54.740
Beginning of the

01:53:54.740 --> 01:53:55.120
Pandemic

01:53:55.120 --> 01:53:55.780
He was the one

01:53:55.780 --> 01:53:56.340
Who outed

01:53:56.340 --> 01:53:57.340
The inflation

01:53:57.340 --> 01:53:58.340
So

01:53:58.340 --> 01:53:58.660
And

01:53:58.660 --> 01:54:00.200
I read his book

01:54:00.200 --> 01:54:01.280
And I think I reviewed it

01:54:01.280 --> 01:54:02.020
And I liked it

01:54:02.020 --> 01:54:02.640
I mean I think

01:54:02.640 --> 01:54:03.920
If I was going to pick

01:54:03.920 --> 01:54:04.680
A central banker

01:54:04.680 --> 01:54:05.540
That would be

01:54:05.540 --> 01:54:06.580
Most attractive

01:54:06.580 --> 01:54:07.640
To someone like me

01:54:07.640 --> 01:54:08.340
That's it

01:54:08.340 --> 01:54:08.760
Right

01:54:08.760 --> 01:54:10.020
But also

01:54:10.020 --> 01:54:11.140
You want Bank of England

01:54:11.140 --> 01:54:11.700
In the room

01:54:11.700 --> 01:54:12.340
If you're going to go

01:54:12.340 --> 01:54:14.020
So I tweeted it out

01:54:14.020 --> 01:54:14.420
And I said

01:54:14.420 --> 01:54:15.220
Kevin Warsh

01:54:15.220 --> 01:54:16.120
Goes full on

01:54:16.120 --> 01:54:16.900
Control grid

01:54:16.900 --> 01:54:17.420
Yeah

01:54:17.420 --> 01:54:18.400
Yeah

01:54:18.400 --> 01:54:19.780
And he's got big money

01:54:19.780 --> 01:54:20.680
In Silicon Valley

01:54:20.680 --> 01:54:21.460
Private equity

01:54:21.460 --> 01:54:22.420
And all that kind of stuff

01:54:22.420 --> 01:54:23.080
So he's a

01:54:23.080 --> 01:54:24.360
You know

01:54:24.360 --> 01:54:25.560
But my read of what

01:54:25.560 --> 01:54:27.080
He's trying to be

01:54:27.080 --> 01:54:28.840
The happy face

01:54:28.840 --> 01:54:30.360
To the control grid

01:54:30.360 --> 01:54:32.140
And he's going full on

01:54:32.140 --> 01:54:33.320
And then the next day

01:54:33.320 --> 01:54:34.080
You ready for this

01:54:34.080 --> 01:54:35.340
That makes a lot of sense

01:54:35.340 --> 01:54:35.880
Yes go ahead

01:54:35.880 --> 01:54:37.040
Anthropic announces

01:54:37.040 --> 01:54:38.440
That they're appointing somebody

01:54:38.440 --> 01:54:39.560
On their trust

01:54:39.560 --> 01:54:41.340
Ben Bernanke

01:54:41.340 --> 01:54:43.240
Oh for crying out loud

01:54:43.240 --> 01:54:47.280
So

01:54:47.280 --> 01:54:48.820
Holy cow

01:54:48.820 --> 01:54:50.020
The number one

01:54:50.020 --> 01:54:51.300
AI in the country

01:54:51.300 --> 01:54:53.320
Is bringing in

01:54:53.320 --> 01:54:54.880
The central banker

01:54:54.880 --> 01:54:56.000
Who's not going on

01:54:56.000 --> 01:54:57.240
To Warsh's task force

01:54:57.240 --> 01:55:00.060
You know

01:55:00.060 --> 01:55:01.440
Mr. Helicopter Money

01:55:01.440 --> 01:55:03.700
Holy cow

01:55:03.700 --> 01:55:08.300
I knew you'd appreciate

01:55:08.300 --> 01:55:08.940
That one

01:55:08.940 --> 01:55:10.480
Well Catherine

01:55:10.480 --> 01:55:11.320
All I can say is

01:55:11.320 --> 01:55:12.880
I wish them the best of luck

01:55:12.880 --> 01:55:14.280
I really do

01:55:14.280 --> 01:55:15.220
Because I don't think

01:55:15.220 --> 01:55:16.560
Any of this is going to work

01:55:16.560 --> 01:55:17.900
I just

01:55:17.900 --> 01:55:20.220
Gee whiz

01:55:20.220 --> 01:55:21.020
I mean

01:55:21.020 --> 01:55:22.500
Anthropic already has

01:55:22.500 --> 01:55:23.400
Problems that are

01:55:23.400 --> 01:55:24.200
Being talked about

01:55:24.200 --> 01:55:27.280
So no

01:55:27.280 --> 01:55:27.780
That's a

01:55:27.780 --> 01:55:28.080
Well

01:55:28.080 --> 01:55:28.440
So

01:55:28.440 --> 01:55:29.580
So we need to

01:55:29.580 --> 01:55:30.280
Anyway

01:55:30.280 --> 01:55:30.880
My

01:55:30.880 --> 01:55:31.560
My

01:55:31.560 --> 01:55:33.300
My thing on inflation is

01:55:33.300 --> 01:55:33.620
You know

01:55:33.620 --> 01:55:35.140
If you look at the CPI

01:55:35.140 --> 01:55:36.800
It's at three and a half

01:55:36.800 --> 01:55:37.560
If you look at the

01:55:37.560 --> 01:55:38.300
Chapwood Index

01:55:38.300 --> 01:55:39.340
Depending on where you are

01:55:39.340 --> 01:55:40.180
It's anywhere from

01:55:40.180 --> 01:55:41.340
Nine to fourteen

01:55:41.340 --> 01:55:42.820
And

01:55:42.820 --> 01:55:43.880
And the big difference

01:55:43.880 --> 01:55:45.220
As Carlos pointed out

01:55:45.220 --> 01:55:46.680
The CPI

01:55:46.680 --> 01:55:47.700
Has 45%

01:55:47.700 --> 01:55:48.200
In housing

01:55:48.200 --> 01:55:49.480
If you already own your house

01:55:49.480 --> 01:55:50.780
You're not dealing

01:55:50.780 --> 01:55:51.600
With those prices

01:55:51.600 --> 01:55:53.000
You're dealing with

01:55:53.000 --> 01:55:53.520
You know

01:55:53.520 --> 01:55:53.800
You know

01:55:53.800 --> 01:55:55.000
The things that are going up

01:55:55.000 --> 01:55:56.220
Eight to twelve percent

01:55:56.220 --> 01:55:57.660
So inflation

01:55:57.660 --> 01:55:59.440
Is really hurting people

01:55:59.440 --> 01:55:59.980
And

01:55:59.980 --> 01:56:01.360
My concern

01:56:01.360 --> 01:56:02.400
Is that

01:56:02.400 --> 01:56:03.140
That

01:56:03.140 --> 01:56:04.560
If you look at

01:56:04.560 --> 01:56:05.680
Offsetting deflation

01:56:05.680 --> 01:56:07.500
It's not going to lower

01:56:07.500 --> 01:56:08.700
Your expenses that much

01:56:08.700 --> 01:56:09.920
It's going to lower your revenues

01:56:09.920 --> 01:56:10.840
Yep

01:56:10.840 --> 01:56:11.380
Right

01:56:11.380 --> 01:56:11.720
So

01:56:11.720 --> 01:56:12.540
Lower

01:56:12.540 --> 01:56:13.560
We're talking about

01:56:13.560 --> 01:56:14.100
A form of

01:56:14.100 --> 01:56:15.480
Turbo stagflation

01:56:15.480 --> 01:56:17.140
And part of it is

01:56:17.140 --> 01:56:18.320
If you look at the

01:56:18.320 --> 01:56:19.440
Government is

01:56:19.440 --> 01:56:20.060
Massively

01:56:20.060 --> 01:56:21.320
Financing

01:56:21.320 --> 01:56:22.920
These corporate monopolies

01:56:22.920 --> 01:56:23.460
That are building

01:56:23.460 --> 01:56:24.320
The control grid

01:56:24.320 --> 01:56:25.780
And they need to get

01:56:25.780 --> 01:56:26.380
That subsidy

01:56:26.380 --> 01:56:27.100
From someplace

01:56:27.100 --> 01:56:28.460
And you're the place

01:56:28.460 --> 01:56:29.380
Yeah

01:56:29.380 --> 01:56:30.320
It's a parasite

01:56:30.320 --> 01:56:31.020
So

01:56:31.020 --> 01:56:32.460
So there's

01:56:32.460 --> 01:56:33.520
Many things

01:56:33.520 --> 01:56:33.940
You can do

01:56:33.940 --> 01:56:34.780
To protect yourself

01:56:34.780 --> 01:56:35.920
And I just send you

01:56:35.920 --> 01:56:36.980
Back to coming clean

01:56:36.980 --> 01:56:38.020
And we talk about them

01:56:38.020 --> 01:56:38.960
Constantly

01:56:38.960 --> 01:56:39.840
But please

01:56:39.840 --> 01:56:40.620
Please

01:56:40.620 --> 01:56:42.080
The more you can do

01:56:42.080 --> 01:56:42.960
To build internal

01:56:42.960 --> 01:56:43.920
Resilience on your

01:56:43.920 --> 01:56:44.460
Balance sheet

01:56:44.460 --> 01:56:45.320
And income statement

01:56:45.320 --> 01:56:46.020
You want to do

01:56:46.020 --> 01:56:47.260
So let's go to

01:56:47.260 --> 01:56:48.260
Story number four

01:56:48.260 --> 01:56:49.480
And this story

01:56:49.480 --> 01:56:51.780
I love the name

01:56:51.780 --> 01:56:53.560
So let me go back again

01:56:53.560 --> 01:56:54.640
Number one was

01:56:54.640 --> 01:56:55.680
Going direct reset

01:56:55.680 --> 01:56:57.640
Number two was

01:56:57.640 --> 01:56:58.820
The shift to C4

01:56:58.820 --> 01:56:59.580
Energy wars

01:56:59.580 --> 01:57:00.540
And trade bottlenecks

01:57:00.540 --> 01:57:01.220
Story number three

01:57:01.220 --> 01:57:01.960
Was inflation

01:57:01.960 --> 01:57:03.420
Story number four

01:57:03.420 --> 01:57:03.680
Is

01:57:03.680 --> 01:57:05.440
The giant sucking sound

01:57:05.440 --> 01:57:06.940
Accessing your capital

01:57:06.940 --> 01:57:08.360
To build the control grid

01:57:08.360 --> 01:57:09.960
Okay

01:57:09.960 --> 01:57:10.660
And

01:57:10.660 --> 01:57:13.620
Here's the reality

01:57:13.620 --> 01:57:17.860
The amount of money

01:57:17.860 --> 01:57:20.920
50% or more

01:57:20.920 --> 01:57:21.740
Of

01:57:21.740 --> 01:57:22.960
People's retirement

01:57:22.960 --> 01:57:23.560
Savings

01:57:23.560 --> 01:57:25.540
Is going into

01:57:25.540 --> 01:57:26.760
A handful of stocks

01:57:26.760 --> 01:57:27.540
That happen to be

01:57:27.540 --> 01:57:28.100
The stocks

01:57:28.100 --> 01:57:28.880
That are building

01:57:28.880 --> 01:57:30.620
The AI

01:57:30.620 --> 01:57:31.820
And the data centers

01:57:31.820 --> 01:57:32.940
And

01:57:32.940 --> 01:57:34.060
It's frightening

01:57:34.060 --> 01:57:34.680
To see

01:57:34.680 --> 01:57:35.180
The

01:57:35.180 --> 01:57:36.940
Lack

01:57:36.940 --> 01:57:37.440
Of

01:57:37.440 --> 01:57:38.580
Diversification

01:57:38.580 --> 01:57:39.580
The over concentration

01:57:39.580 --> 01:57:40.740
Of 401ks

01:57:40.740 --> 01:57:41.420
And IRAs

01:57:41.420 --> 01:57:41.940
And this stuff

01:57:41.940 --> 01:57:42.780
Anyway

01:57:42.780 --> 01:57:43.920
So let's just

01:57:43.920 --> 01:57:44.860
Take a look

01:57:44.860 --> 01:57:45.700
At the first video

01:57:45.700 --> 01:57:48.000
Someone I follow

01:57:48.000 --> 01:57:48.520
A lot

01:57:48.520 --> 01:57:49.220
And have followed

01:57:49.220 --> 01:57:49.720
For years

01:57:49.720 --> 01:57:50.780
Is Jeremy Grantham

01:57:50.780 --> 01:57:51.140
Who

01:57:51.140 --> 01:57:52.480
Just published

01:57:52.480 --> 01:57:52.960
A book

01:57:52.960 --> 01:57:54.740
He calls himself

01:57:54.740 --> 01:57:55.500
A perma bear

01:57:55.500 --> 01:57:57.560
Because he's very

01:57:57.560 --> 01:57:58.380
Focused on

01:57:58.380 --> 01:57:59.260
Long-term

01:57:59.260 --> 01:58:00.680
Economics

01:58:00.680 --> 01:58:01.980
Versus what the

01:58:01.980 --> 01:58:02.760
Market's doing

01:58:02.760 --> 01:58:04.080
And so

01:58:04.080 --> 01:58:05.220
When the market's

01:58:05.220 --> 01:58:06.000
Coming into the

01:58:06.000 --> 01:58:06.840
Dot-com bubble

01:58:06.840 --> 01:58:07.820
He kept saying

01:58:07.820 --> 01:58:08.360
It's a bubble

01:58:08.360 --> 01:58:09.180
And refusing to

01:58:09.180 --> 01:58:09.900
Invest in it

01:58:09.900 --> 01:58:11.020
And a tremendous

01:58:11.020 --> 01:58:11.700
Amount of money

01:58:11.700 --> 01:58:12.480
Left their firm

01:58:12.480 --> 01:58:13.300
And then it crashed

01:58:13.300 --> 01:58:13.900
And it turned out

01:58:13.900 --> 01:58:14.380
He was right

01:58:14.380 --> 01:58:15.180
And he made a fortune

01:58:15.180 --> 01:58:15.720
For his

01:58:15.720 --> 01:58:16.580
You know

01:58:16.580 --> 01:58:17.460
So he's been very

01:58:17.460 --> 01:58:18.760
And one of the

01:58:18.760 --> 01:58:19.380
Things he'll say

01:58:19.380 --> 01:58:19.640
Is

01:58:19.640 --> 01:58:20.640
In the history

01:58:20.640 --> 01:58:21.600
Of the stock market

01:58:21.600 --> 01:58:21.960
There have been

01:58:21.960 --> 01:58:22.880
26 bubbles

01:58:22.880 --> 01:58:23.700
And they always

01:58:23.700 --> 01:58:24.660
Revert to the mean

01:58:24.660 --> 01:58:26.440
And it has to

01:58:26.440 --> 01:58:27.300
Revert to the mean

01:58:27.300 --> 01:58:28.640
And I agree with him

01:58:28.640 --> 01:58:29.500
Except I'm looking

01:58:29.500 --> 01:58:30.140
At what they can

01:58:30.140 --> 01:58:30.580
Pump out

01:58:30.580 --> 01:58:31.480
With stable coins

01:58:31.480 --> 01:58:32.440
And digital tokens

01:58:32.440 --> 01:58:32.840
Right

01:58:32.840 --> 01:58:33.240
Right

01:58:33.240 --> 01:58:34.040
And I'm like

01:58:34.040 --> 01:58:34.960
You know

01:58:34.960 --> 01:58:36.100
You could bubble

01:58:36.100 --> 01:58:37.780
This much higher

01:58:37.780 --> 01:58:38.520
Yes

01:58:38.520 --> 01:58:39.200
So here's

01:58:39.200 --> 01:58:40.020
Jeremy Grantham

01:58:40.020 --> 01:58:40.860
On

01:58:40.860 --> 01:58:42.000
With Steve Bartlett

01:58:42.000 --> 01:58:43.200
On Diary of a CEO

01:58:43.200 --> 01:58:44.800
Explaining the

01:58:44.800 --> 01:58:45.760
Fundamental problem

01:58:45.760 --> 01:58:46.460
That we're dealing

01:58:46.460 --> 01:58:47.060
With the

01:58:47.060 --> 01:58:47.660
Current bubble

01:58:47.660 --> 01:58:49.040
One of the things

01:58:49.040 --> 01:58:49.400
You're famous

01:58:49.400 --> 01:58:50.080
For talking about

01:58:50.080 --> 01:58:51.360
Is this idea

01:58:51.360 --> 01:58:52.260
Of bubbles

01:58:52.260 --> 01:58:52.960
And we're living

01:58:52.960 --> 01:58:53.420
In a moment

01:58:53.420 --> 01:58:54.160
Where everybody's

01:58:54.160 --> 01:58:54.580
Talking about

01:58:54.580 --> 01:58:55.200
The subject

01:58:55.200 --> 01:58:56.380
Of artificial intelligence

01:58:56.380 --> 01:58:57.420
And everyone's

01:58:57.420 --> 01:58:58.120
Getting very excited

01:58:58.120 --> 01:58:58.600
By it

01:58:58.600 --> 01:58:59.220
Some people are

01:58:59.220 --> 01:59:00.420
Getting very pessimistic

01:59:00.420 --> 01:59:01.160
About the impact

01:59:01.160 --> 01:59:02.080
It'll have on society

01:59:02.080 --> 01:59:03.500
I wanted to start

01:59:03.500 --> 01:59:04.020
There because

01:59:04.020 --> 01:59:04.860
It's an area

01:59:04.860 --> 01:59:05.400
Where there is

01:59:05.400 --> 01:59:06.380
Rife optimism

01:59:06.380 --> 01:59:07.500
On one side of things

01:59:07.500 --> 01:59:08.540
But there's also

01:59:08.540 --> 01:59:09.100
A lot of money

01:59:09.100 --> 01:59:10.120
Plowing into the market

01:59:10.120 --> 01:59:10.820
Which is

01:59:10.820 --> 01:59:12.200
I guess in your view

01:59:12.200 --> 01:59:13.100
Making things

01:59:13.100 --> 01:59:14.560
Prone to collapse

01:59:14.560 --> 01:59:16.340
What's your view

01:59:16.340 --> 01:59:17.180
On artificial intelligence

01:59:17.180 --> 01:59:17.840
Well you said

01:59:17.840 --> 01:59:18.260
You're good at

01:59:18.260 --> 01:59:18.920
Understanding what

01:59:18.920 --> 01:59:19.480
People are missing

01:59:19.480 --> 01:59:20.040
What is it that

01:59:20.040 --> 01:59:20.660
People are missing

01:59:20.660 --> 01:59:21.680
Well first of all

01:59:21.680 --> 01:59:22.100
Let me say

01:59:22.100 --> 01:59:23.700
I think artificial intelligence

01:59:23.700 --> 01:59:24.100
Is

01:59:24.100 --> 01:59:25.460
Right up there

01:59:25.460 --> 01:59:26.300
With the railroads

01:59:26.300 --> 01:59:27.180
It's one of the

01:59:27.180 --> 01:59:29.520
Defining great ideas

01:59:29.520 --> 01:59:30.520
Of the last

01:59:30.520 --> 01:59:31.940
Couple of hundred years

01:59:31.940 --> 01:59:33.720
It's going to change everything

01:59:33.720 --> 01:59:34.620
And

01:59:34.620 --> 01:59:35.500
That is critical

01:59:35.500 --> 01:59:36.080
If you

01:59:36.080 --> 01:59:37.100
If you mean to have a bubble

01:59:37.100 --> 01:59:38.300
People think that

01:59:38.300 --> 01:59:39.180
A bubble is a

01:59:39.180 --> 01:59:40.740
Mainly because it's a scam

01:59:40.740 --> 01:59:41.920
And nothing could be further

01:59:41.920 --> 01:59:42.760
From the truth

01:59:42.760 --> 01:59:44.040
The great bubbles

01:59:44.040 --> 01:59:44.880
Always occur

01:59:44.880 --> 01:59:46.180
Around the very most

01:59:46.180 --> 01:59:47.140
Important ideas

01:59:47.140 --> 01:59:48.720
So the railroads

01:59:48.720 --> 01:59:49.760
Everyone could see

01:59:49.760 --> 01:59:51.200
That it would change the world

01:59:51.200 --> 01:59:53.560
And everyone wanted to put their money in

01:59:53.560 --> 01:59:55.300
And everybody put their money in

01:59:55.300 --> 01:59:56.840
They overinvested

01:59:56.840 --> 01:59:58.340
And even though the railroads

01:59:58.340 --> 02:00:00.660
Were a spectacularly powerful idea

02:00:00.660 --> 02:00:02.620
The railroads

02:00:02.620 --> 02:00:04.660
Collapsed at stocks

02:00:04.660 --> 02:00:06.260
And everybody lost a ton of dough

02:00:06.260 --> 02:00:07.900
The same with the internet

02:00:07.900 --> 02:00:09.680
And then out of the wreckage

02:00:09.680 --> 02:00:10.780
The railroads

02:00:10.780 --> 02:00:12.000
Changed the world

02:00:12.000 --> 02:00:12.260
And

02:00:12.260 --> 02:00:13.400
And the internet

02:00:13.400 --> 02:00:14.540
Changed the world

02:00:14.540 --> 02:00:16.160
What we have to remember

02:00:16.160 --> 02:00:17.000
Is that

02:00:17.000 --> 02:00:19.040
In 99

02:00:19.040 --> 02:00:20.160
Amazon went up

02:00:20.160 --> 02:00:21.180
6 or 7 times

02:00:21.180 --> 02:00:22.320
In the crash

02:00:22.320 --> 02:00:23.220
In the tech bubble

02:00:23.220 --> 02:00:25.240
It went down 92%

02:00:25.240 --> 02:00:26.760
As I like to say

02:00:26.760 --> 02:00:27.220
Check it

02:00:27.220 --> 02:00:28.880
It's such a remarkably large number

02:00:28.880 --> 02:00:30.440
And then out of the wreckage

02:00:30.440 --> 02:00:32.540
It inherited the retail world

02:00:32.540 --> 02:00:33.540
And

02:00:33.540 --> 02:00:34.300
That's

02:00:34.300 --> 02:00:35.260
That's how it works

02:00:35.260 --> 02:00:36.460
The greater the idea

02:00:36.460 --> 02:00:38.220
The more obvious the idea

02:00:38.220 --> 02:00:39.880
The more money goes in

02:00:39.880 --> 02:00:41.100
And the bigger the bubble

02:00:41.100 --> 02:00:42.240
And the bigger the bus

02:00:42.240 --> 02:00:45.220
So

02:00:45.220 --> 02:00:47.180
That is what happened

02:00:47.180 --> 02:00:47.560
But

02:00:47.560 --> 02:00:49.820
I wanted to bring up

02:00:49.820 --> 02:00:51.100
In that vein

02:00:51.100 --> 02:00:53.160
If you look at the AI model

02:00:53.160 --> 02:00:54.120
In the United States

02:00:54.120 --> 02:00:55.680
And the AI model in China

02:00:55.680 --> 02:00:57.940
It's so completely different

02:00:57.940 --> 02:00:58.980
I just did an interview

02:00:58.980 --> 02:01:00.000
With Travis Oliphant

02:01:00.000 --> 02:01:01.160
On open source AI

02:01:01.160 --> 02:01:02.780
And

02:01:02.780 --> 02:01:04.000
The US has been

02:01:04.000 --> 02:01:04.860
Very negative

02:01:04.860 --> 02:01:06.460
About open source AI

02:01:06.460 --> 02:01:07.000
Yep

02:01:07.000 --> 02:01:08.580
And China is

02:01:08.580 --> 02:01:10.220
Pushing open source AI

02:01:10.220 --> 02:01:11.300
All over the world

02:01:11.300 --> 02:01:11.980
Yep

02:01:11.980 --> 02:01:12.140
Okay

02:01:12.140 --> 02:01:13.060
And

02:01:13.060 --> 02:01:14.400
I don't see how you

02:01:14.400 --> 02:01:15.300
Control this

02:01:15.300 --> 02:01:15.520
So

02:01:15.520 --> 02:01:16.900
This is Eric Schmidt

02:01:16.900 --> 02:01:18.320
Former head of Google

02:01:18.320 --> 02:01:20.320
Talking about this

02:01:20.320 --> 02:01:22.880
Battle of the AI models

02:01:22.880 --> 02:01:25.260
Right in the middle of this stock market bubble

02:01:25.260 --> 02:01:26.540
Okay so let's look at it

02:01:26.540 --> 02:01:26.840
At

02:01:26.840 --> 02:01:28.320
Video 17

02:01:28.320 --> 02:01:31.760
What I like about

02:01:31.760 --> 02:01:32.320
This

02:01:32.320 --> 02:01:34.080
Is that we have real competitors

02:01:34.080 --> 02:01:35.480
What I don't like about it

02:01:35.480 --> 02:01:35.960
Is

02:01:35.960 --> 02:01:38.160
China is very focused

02:01:38.160 --> 02:01:40.820
In broad diffusion of this technology globally

02:01:40.820 --> 02:01:42.600
And it's all open source

02:01:42.600 --> 02:01:44.040
Which means it's largely

02:01:44.040 --> 02:01:45.400
Uncontrolled

02:01:45.400 --> 02:01:47.440
And not controlled in any way by us

02:01:47.440 --> 02:01:50.240
So I think a fair statement is

02:01:50.240 --> 02:01:53.300
A year ago I said I thought that they were one to two years

02:01:53.300 --> 02:01:54.440
Behind

02:01:54.440 --> 02:01:59.900
It looks like they've caught up enough that the most recent analysis is China is within six months

02:01:59.900 --> 02:02:02.400
Which is a nanosecond

02:02:02.400 --> 02:02:03.640
Right in our world

02:02:03.640 --> 02:02:06.700
So it gives you a sense of how committed China is

02:02:06.700 --> 02:02:08.660
To the AI leadership position

02:02:08.660 --> 02:02:10.760
And they're not going to stop

02:02:10.760 --> 02:02:13.040
It makes you feel any better

02:02:13.040 --> 02:02:16.640
In order to do this you have to have a whole country

02:02:16.640 --> 02:02:17.360
Of

02:02:17.360 --> 02:02:18.160
You know

02:02:18.160 --> 02:02:21.740
Engineers, scientists, nerds, money, hardware and so forth

02:02:21.740 --> 02:02:24.300
There are not going to be many countries

02:02:24.300 --> 02:02:26.200
That can do this on their own

02:02:26.200 --> 02:02:27.980
But China is clearly one

02:02:27.980 --> 02:02:29.680
America is another one with our

02:02:29.680 --> 02:02:30.980
Allies of course

02:02:30.980 --> 02:02:32.620
Maybe there will be a third or a fourth

02:02:32.620 --> 02:02:36.700
So we're absolutely dividing

02:02:36.700 --> 02:02:39.220
Into AI superpowers

02:02:39.220 --> 02:02:40.040
Because

02:02:40.040 --> 02:02:42.260
So many countries behind the world

02:02:42.260 --> 02:02:43.560
Are completely outside

02:02:43.560 --> 02:02:44.800
You know

02:02:44.800 --> 02:02:45.100
They're

02:02:45.100 --> 02:02:45.880
They're customers

02:02:45.880 --> 02:02:47.240
They're not developers

02:02:47.240 --> 02:02:48.320
But

02:02:48.320 --> 02:02:50.420
But China's doing open source

02:02:50.420 --> 02:02:51.020
And

02:02:51.020 --> 02:02:51.780
And

02:02:51.780 --> 02:02:52.820
US is doing

02:02:52.820 --> 02:02:53.860
You know

02:02:53.860 --> 02:02:55.660
Big mega data center

02:02:55.660 --> 02:02:56.020
You know

02:02:56.020 --> 02:02:57.060
They're doing big model

02:02:57.060 --> 02:02:58.280
Because if you look at China

02:02:58.280 --> 02:02:59.180
The open source

02:02:59.180 --> 02:03:00.800
Can be distributed

02:03:00.800 --> 02:03:02.160
Data holdings

02:03:02.160 --> 02:03:03.200
And

02:03:03.200 --> 02:03:04.680
What's interesting is

02:03:04.680 --> 02:03:06.880
Their model is very much designed

02:03:06.880 --> 02:03:08.120
To produce productivity

02:03:08.120 --> 02:03:09.580
In fundamental business

02:03:09.580 --> 02:03:11.200
As opposed to control grid

02:03:11.200 --> 02:03:11.840
Right

02:03:11.840 --> 02:03:13.060
Now

02:03:13.060 --> 02:03:14.860
What this means is

02:03:14.860 --> 02:03:17.840
We're making massive investments

02:03:17.840 --> 02:03:18.760
In control

02:03:18.760 --> 02:03:22.540
And the only way you can justify the economics

02:03:22.540 --> 02:03:23.360
Is with plunder

02:03:23.360 --> 02:03:24.300
Yep

02:03:24.300 --> 02:03:25.540
Okay so

02:03:25.540 --> 02:03:26.700
Here's Richard Werner

02:03:26.700 --> 02:03:28.600
Richard Werner back on Tucker

02:03:28.600 --> 02:03:30.620
Did a fabulous job of explaining

02:03:30.620 --> 02:03:32.360
What in the world is going on

02:03:32.360 --> 02:03:33.140
And his partner

02:03:33.140 --> 02:03:34.580
Taylor Hudak is his partner

02:03:34.580 --> 02:03:36.720
She just wrote a big story for us

02:03:36.720 --> 02:03:39.280
On private capital going into data center

02:03:39.280 --> 02:03:41.060
I had seen Kevin O'Leary on Tucker

02:03:41.060 --> 02:03:43.540
Who was insisting it was all private capital

02:03:43.540 --> 02:03:44.500
And I said

02:03:44.500 --> 02:03:45.080
Yeah

02:03:45.080 --> 02:03:46.320
It's totally yeah

02:03:46.320 --> 02:03:47.200
I'm sorry

02:03:47.200 --> 02:03:47.720
So I had

02:03:47.720 --> 02:03:49.320
Taylor write a piece on the

02:03:49.320 --> 02:03:49.740
All the

02:03:49.740 --> 02:03:51.360
All the taxpayer money

02:03:51.360 --> 02:03:52.500
Going into data centers

02:03:52.500 --> 02:03:53.440
So

02:03:53.440 --> 02:03:54.500
And I sent it to Tucker

02:03:54.500 --> 02:03:55.060
And I said

02:03:55.060 --> 02:03:55.980
You know

02:03:55.980 --> 02:03:58.360
Kevin O'Leary was lying to you

02:03:58.360 --> 02:03:59.340
Which he knew

02:03:59.340 --> 02:04:01.080
Okay so let's watch

02:04:01.080 --> 02:04:01.580
Richard

02:04:01.580 --> 02:04:02.940
In video 18

02:04:02.940 --> 02:04:04.040
Talk about this

02:04:04.040 --> 02:04:05.620
We're heading towards

02:04:05.620 --> 02:04:07.120
Digital control

02:04:07.120 --> 02:04:08.080
Systems

02:04:08.080 --> 02:04:10.240
Where we have no more control

02:04:10.240 --> 02:04:10.920
Over

02:04:10.920 --> 02:04:12.060
Our liquid assets

02:04:12.060 --> 02:04:14.040
It will be

02:04:14.040 --> 02:04:14.880
Of course

02:04:14.880 --> 02:04:15.760
Programmable

02:04:15.760 --> 02:04:17.600
Permission based

02:04:17.600 --> 02:04:19.600
So only what the central planners

02:04:19.600 --> 02:04:20.800
Allow you to use

02:04:20.800 --> 02:04:21.960
Your money

02:04:21.960 --> 02:04:22.620
For

02:04:22.620 --> 02:04:23.980
At what time

02:04:23.980 --> 02:04:24.500
And place

02:04:24.500 --> 02:04:25.120
And location

02:04:25.120 --> 02:04:25.960
Will be permitted

02:04:25.960 --> 02:04:27.080
And if you're in the wrong place

02:04:27.080 --> 02:04:27.880
It's not going to work

02:04:27.880 --> 02:04:29.200
And if you're buying the wrong book

02:04:29.200 --> 02:04:29.740
Title

02:04:29.740 --> 02:04:31.040
It's not going to work

02:04:31.040 --> 02:04:31.540
And so on

02:04:31.540 --> 02:04:32.560
I mean there's no limit to

02:04:32.560 --> 02:04:34.280
How much you can fine tune

02:04:34.280 --> 02:04:34.620
And control

02:04:34.620 --> 02:04:36.200
Oh they don't have so much power

02:04:36.200 --> 02:04:37.000
They can't control

02:04:37.000 --> 02:04:37.780
You know

02:04:37.780 --> 02:04:38.680
Millions of people

02:04:38.680 --> 02:04:40.400
Well this is what the

02:04:40.780 --> 02:04:41.920
Drive to build all these

02:04:41.920 --> 02:04:42.880
Hundreds

02:04:42.880 --> 02:04:43.680
In fact thousands

02:04:43.680 --> 02:04:44.820
Of data centers

02:04:44.820 --> 02:04:45.500
Is about

02:04:45.500 --> 02:04:46.260
It is

02:04:46.260 --> 02:04:47.960
An organizational challenge

02:04:47.960 --> 02:04:49.360
To micromanage

02:04:49.360 --> 02:04:50.440
The world's population

02:04:50.440 --> 02:04:51.280
Through the new

02:04:51.280 --> 02:04:53.200
Financial world order

02:04:53.200 --> 02:04:53.980
Yes

02:04:53.980 --> 02:04:55.700
But they're working on

02:04:55.700 --> 02:04:56.320
Solving that

02:04:56.320 --> 02:04:56.860
AI

02:04:56.860 --> 02:04:57.920
Is really

02:04:57.920 --> 02:04:58.840
About that

02:04:58.840 --> 02:05:00.040
If AI

02:05:00.040 --> 02:05:01.260
Was about

02:05:01.260 --> 02:05:02.840
Helping us

02:05:02.840 --> 02:05:03.740
To be more productive

02:05:03.740 --> 02:05:04.700
The principle

02:05:04.700 --> 02:05:06.180
Of decentralization

02:05:06.180 --> 02:05:06.900
Would be applied

02:05:06.900 --> 02:05:08.700
Because any human organization

02:05:08.700 --> 02:05:09.460
And any use

02:05:09.460 --> 02:05:10.020
And any

02:05:10.020 --> 02:05:10.540
Anywhere

02:05:10.640 --> 02:05:11.340
Humans are involved

02:05:11.340 --> 02:05:12.820
If you introduce

02:05:12.820 --> 02:05:13.340
The principle

02:05:13.340 --> 02:05:14.260
Of decentralization

02:05:14.260 --> 02:05:15.000
Subsidiarity

02:05:15.000 --> 02:05:16.140
It will be more

02:05:16.140 --> 02:05:16.580
Productive

02:05:16.580 --> 02:05:19.020
Exactly

02:05:19.020 --> 02:05:20.520
Now

02:05:20.520 --> 02:05:21.100
How are they

02:05:21.100 --> 02:05:21.460
Going to get

02:05:21.460 --> 02:05:22.700
This massive capital

02:05:22.700 --> 02:05:23.980
Let me just show you

02:05:23.980 --> 02:05:24.480
The next one

02:05:24.480 --> 02:05:24.960
This is

02:05:24.960 --> 02:05:26.480
BlackRock Larry Fink

02:05:26.480 --> 02:05:27.720
With Governor

02:05:27.720 --> 02:05:28.580
Abbott of Texas

02:05:28.580 --> 02:05:29.740
Texas has the most

02:05:29.740 --> 02:05:30.340
Data centers

02:05:30.340 --> 02:05:30.840
Projected

02:05:30.840 --> 02:05:32.200
Of any state

02:05:32.200 --> 02:05:32.700
In the union

02:05:32.700 --> 02:05:33.840
Explaining how

02:05:33.840 --> 02:05:34.160
They're going to

02:05:34.160 --> 02:05:34.840
Get the capital

02:05:34.840 --> 02:05:35.760
To do all these

02:05:35.760 --> 02:05:36.800
Massive data centers

02:05:36.800 --> 02:05:37.660
To control you

02:05:37.660 --> 02:05:39.120
Americans

02:05:39.120 --> 02:05:40.040
To think about

02:05:40.040 --> 02:05:40.500
Growing

02:05:40.500 --> 02:05:44.100
Growing with the United States

02:05:44.100 --> 02:05:46.980
We will have

02:05:46.980 --> 02:05:48.180
Far than enough money

02:05:48.180 --> 02:05:50.260
To invest in this infrastructure

02:05:50.260 --> 02:05:53.140
But as the governor was talking about

02:05:53.140 --> 02:05:55.460
The need for electrons

02:05:55.460 --> 02:05:58.660
Is growing every day

02:05:58.660 --> 02:05:59.700
Some of these

02:05:59.700 --> 02:06:00.180
That you know

02:06:00.180 --> 02:06:02.740
If we're going to be the leader in technology

02:06:02.740 --> 02:06:04.100
Which we are

02:06:04.100 --> 02:06:06.260
If we are going to be the leader

02:06:06.260 --> 02:06:07.140
In AI

02:06:07.140 --> 02:06:09.140
Which we presently are

02:06:09.140 --> 02:06:10.360
It's just going to require

02:06:10.360 --> 02:06:12.920
Trillions of dollars of investments

02:06:12.920 --> 02:06:14.920
And if we don't invest in it

02:06:14.920 --> 02:06:15.960
China will be the

02:06:15.960 --> 02:06:17.640
Global leader in this

02:06:17.640 --> 02:06:19.080
And so to me it's not

02:06:19.080 --> 02:06:20.360
Whether

02:06:20.360 --> 02:06:21.720
It this is a must

02:06:24.920 --> 02:06:24.920
And

02:06:24.920 --> 02:06:27.800
If you think about how that translates

02:06:27.800 --> 02:06:30.200
It translates into a more

02:06:30.200 --> 02:06:32.520
Dynamic economy

02:06:32.520 --> 02:06:34.520
We need the United States economy to grow it

02:06:34.520 --> 02:06:36.120
Over two percent

02:06:36.120 --> 02:06:38.920
We need the U.S. Economy to grow at three percent

02:06:38.920 --> 02:06:40.840
Especially with the growing deficits

02:06:40.840 --> 02:06:42.200
The federal government has

02:06:42.840 --> 02:06:44.920
And so much of this money

02:06:44.920 --> 02:06:45.880
Not just the project

02:06:45.880 --> 02:06:47.480
Is going to be coming from the private sector

02:06:48.520 --> 02:06:49.720
From savings accounts

02:06:49.720 --> 02:06:50.680
From pension accounts

02:06:50.680 --> 02:06:51.720
From insurance companies

02:06:51.720 --> 02:06:52.760
And on

02:06:55.080 --> 02:06:55.720
Okay so

02:06:55.720 --> 02:06:56.600
Well this is

02:06:56.600 --> 02:06:57.720
Catherine this is why

02:06:57.720 --> 02:06:59.480
Whenever I think of Larry Fink

02:06:59.480 --> 02:07:00.440
Or refer to him

02:07:00.440 --> 02:07:01.480
I always say

02:07:02.040 --> 02:07:04.760
To the aptly surnamed

02:07:04.760 --> 02:07:05.960
Larry Fink

02:07:06.760 --> 02:07:07.960
So we made a big deal

02:07:07.960 --> 02:07:09.000
We just did an interview

02:07:09.000 --> 02:07:10.040
With Tiffany Sianzzi

02:07:10.040 --> 02:07:10.840
On the effort

02:07:10.840 --> 02:07:12.920
By the administration

02:07:12.920 --> 02:07:14.040
With Fink's help

02:07:14.040 --> 02:07:15.720
To get the Department of Labor

02:07:15.720 --> 02:07:19.160
To strip liability

02:07:19.160 --> 02:07:21.960
From 401k fiduciaries

02:07:21.960 --> 02:07:23.640
Who do

02:07:23.640 --> 02:07:24.200
What?

02:07:24.920 --> 02:07:25.800
Who do

02:07:25.800 --> 02:07:28.680
Who do alternative investments

02:07:28.680 --> 02:07:30.600
You know including private equity

02:07:30.600 --> 02:07:33.360
Because they're getting sued

02:07:33.360 --> 02:07:34.940
And they you know

02:07:34.940 --> 02:07:36.440
According to their allocations

02:07:36.440 --> 02:07:37.800
They can do up to 5%

02:07:37.800 --> 02:07:39.480
But they don't want to do it

02:07:39.480 --> 02:07:40.520
Because they're getting sued

02:07:40.520 --> 02:07:41.080
And so

02:07:41.080 --> 02:07:43.020
The Trump administration

02:07:43.020 --> 02:07:44.580
Is trying to give them

02:07:44.580 --> 02:07:45.880
Essentially indemnification

02:07:45.880 --> 02:07:47.680
So they can't be sued

02:07:47.680 --> 02:07:48.820
When they lose money

02:07:48.820 --> 02:07:49.920
On private equity

02:07:49.920 --> 02:07:50.640
And crypto

02:07:50.640 --> 02:07:51.540
Oh holy cow

02:07:51.540 --> 02:07:52.820
It's private equity

02:07:52.820 --> 02:07:53.580
And crypto

02:07:53.580 --> 02:07:55.060
And you know

02:07:55.060 --> 02:07:56.180
On and on

02:07:56.180 --> 02:07:56.760
Okay

02:07:56.760 --> 02:07:58.280
And now a vaccine

02:07:58.280 --> 02:08:00.420
A vaccine immunity

02:08:00.420 --> 02:08:02.400
To a fiduciary

02:08:02.400 --> 02:08:03.400
Right

02:08:03.400 --> 02:08:03.860
Right

02:08:03.860 --> 02:08:05.020
So we're going to get to that

02:08:05.020 --> 02:08:06.000
In story number six

02:08:06.000 --> 02:08:06.300
So

02:08:06.300 --> 02:08:07.180
So

02:08:07.180 --> 02:08:08.060
So anyway

02:08:08.060 --> 02:08:08.440
But

02:08:08.440 --> 02:08:08.880
But

02:08:08.880 --> 02:08:10.200
But right now

02:08:10.200 --> 02:08:12.040
If you go into many 401ks

02:08:12.040 --> 02:08:12.980
And IRAs

02:08:12.980 --> 02:08:13.660
-huh

02:08:13.660 --> 02:08:14.540
You know

02:08:14.540 --> 02:08:15.600
They have all their money

02:08:15.600 --> 02:08:17.140
In S&P index funds

02:08:17.140 --> 02:08:18.480
And

02:08:18.480 --> 02:08:20.480
And those S&P index funds

02:08:20.480 --> 02:08:21.220
Have as much as

02:08:21.220 --> 02:08:22.720
35 to 50 percent

02:08:22.720 --> 02:08:24.560
In the stocks

02:08:24.560 --> 02:08:25.160
That are building

02:08:25.160 --> 02:08:26.340
The AI and data center

02:08:26.340 --> 02:08:28.760
So you are financing

02:08:28.760 --> 02:08:29.860
When

02:08:29.860 --> 02:08:30.140
When

02:08:30.140 --> 02:08:31.740
Grantham talks about

02:08:31.740 --> 02:08:32.580
You're putting your money

02:08:32.580 --> 02:08:33.100
In a bubble

02:08:33.100 --> 02:08:34.600
He's talking about

02:08:34.600 --> 02:08:35.500
You could lose money

02:08:35.500 --> 02:08:35.980
On a bubble

02:08:35.980 --> 02:08:37.480
But what I'm saying is

02:08:37.480 --> 02:08:38.640
Before you lose your money

02:08:38.640 --> 02:08:39.360
You're financing

02:08:39.360 --> 02:08:40.460
The control grid

02:08:40.460 --> 02:08:41.360
That will

02:08:41.360 --> 02:08:43.160
Strip you

02:08:43.160 --> 02:08:43.980
Of your freedoms

02:08:43.980 --> 02:08:44.840
Right

02:08:44.840 --> 02:08:45.700
And

02:08:45.700 --> 02:08:46.700
And

02:08:46.700 --> 02:08:47.860
This is very frustrating

02:08:47.860 --> 02:08:48.400
For me

02:08:48.400 --> 02:08:49.160
Because I go out

02:08:49.160 --> 02:08:49.920
On the hustings

02:08:49.920 --> 02:08:51.940
And I'll be in an audience

02:08:51.940 --> 02:08:52.800
Of a thousand people

02:08:52.800 --> 02:08:53.300
And they say

02:08:53.300 --> 02:08:53.940
What are you doing

02:08:53.940 --> 02:08:55.020
To stop the control grid

02:08:55.020 --> 02:08:55.580
And I'm like

02:08:55.580 --> 02:08:56.400
I

02:08:56.400 --> 02:08:57.500
I can't fight you

02:08:57.500 --> 02:08:58.360
You're all financing

02:08:58.360 --> 02:08:59.620
You're not financing me

02:08:59.620 --> 02:09:00.940
I'm financing me

02:09:00.940 --> 02:09:02.180
You're financing

02:09:02.180 --> 02:09:03.300
The people

02:09:03.300 --> 02:09:03.660
You see

02:09:03.660 --> 02:09:04.220
Right

02:09:04.220 --> 02:09:05.440
So

02:09:05.440 --> 02:09:06.620
So maybe

02:09:06.620 --> 02:09:09.240
I want you to use cash

02:09:09.240 --> 02:09:10.740
But I want you to stop

02:09:10.740 --> 02:09:12.900
Helping finance your enemy

02:09:12.900 --> 02:09:14.600
Stop financing your enemy

02:09:14.600 --> 02:09:15.380
Stop it

02:09:15.380 --> 02:09:15.880
Stop it

02:09:15.880 --> 02:09:16.420
Stop it

02:09:16.420 --> 02:09:17.220
And

02:09:17.220 --> 02:09:17.960
And

02:09:17.960 --> 02:09:18.540
You know

02:09:18.540 --> 02:09:19.520
There are different degrees

02:09:19.520 --> 02:09:21.320
Of difficulty to stop it

02:09:21.320 --> 02:09:22.820
But it can be done

02:09:22.820 --> 02:09:23.520
Now let me tell you

02:09:23.520 --> 02:09:24.340
How bad this is

02:09:24.340 --> 02:09:24.700
Because

02:09:24.700 --> 02:09:26.360
Up until now

02:09:26.360 --> 02:09:27.520
I've been worried

02:09:27.520 --> 02:09:28.440
About you financing

02:09:28.440 --> 02:09:29.060
Your prison

02:09:29.060 --> 02:09:31.440
But what worries me

02:09:31.440 --> 02:09:32.420
Even more now

02:09:32.420 --> 02:09:32.860
Is

02:09:32.860 --> 02:09:33.660
We saw

02:09:33.660 --> 02:09:34.520
On the SpaceX

02:09:34.520 --> 02:09:35.560
IPO

02:09:35.560 --> 02:09:37.420
NASDAQ

02:09:37.420 --> 02:09:37.940
And

02:09:37.940 --> 02:09:39.000
Russell 1000

02:09:39.000 --> 02:09:40.400
Changed the rules

02:09:40.400 --> 02:09:41.460
And allowed

02:09:41.460 --> 02:09:41.980
SpaceX

02:09:41.980 --> 02:09:43.600
To go into the index

02:09:43.600 --> 02:09:44.540
When it clearly

02:09:44.540 --> 02:09:45.340
Didn't qualify

02:09:45.340 --> 02:09:47.020
It was massive

02:09:47.020 --> 02:09:47.940
Violation of the rules

02:09:47.940 --> 02:09:49.400
Luckily the S&P index

02:09:49.400 --> 02:09:49.780
Didn't

02:09:49.780 --> 02:09:50.940
But what that meant

02:09:50.940 --> 02:09:51.360
Was

02:09:51.360 --> 02:09:53.080
SpaceX goes public

02:09:53.080 --> 02:09:53.600
And suddenly

02:09:53.600 --> 02:09:54.480
There's a giant

02:09:54.480 --> 02:09:55.240
Sucking sound

02:09:55.240 --> 02:09:57.000
Retirement savings

02:09:57.000 --> 02:09:57.900
Into AI

02:09:57.900 --> 02:09:58.860
And data centers

02:09:58.860 --> 02:09:59.780
In a way

02:09:59.780 --> 02:10:00.340
Which is

02:10:00.340 --> 02:10:01.020
Absolutely

02:10:01.020 --> 02:10:02.000
In violation

02:10:02.000 --> 02:10:03.120
Of prudent man

02:10:03.120 --> 02:10:03.440
Rules

02:10:03.440 --> 02:10:04.320
Absolutely

02:10:04.320 --> 02:10:05.160
In violation

02:10:05.160 --> 02:10:06.500
Holy cow

02:10:06.500 --> 02:10:06.900
Right

02:10:06.900 --> 02:10:07.400
It's

02:10:07.400 --> 02:10:08.440
I just said

02:10:08.440 --> 02:10:08.940
There's like

02:10:08.940 --> 02:10:09.900
A complete breakdown

02:10:09.900 --> 02:10:11.220
Of financial standards

02:10:11.220 --> 02:10:11.740
I'm

02:10:11.740 --> 02:10:13.280
Well with FASB 56

02:10:13.280 --> 02:10:14.440
That was the end

02:10:14.440 --> 02:10:14.880
Right

02:10:14.880 --> 02:10:15.700
So we know that

02:10:15.700 --> 02:10:15.900
Sure

02:10:15.900 --> 02:10:16.560
Okay

02:10:16.560 --> 02:10:16.960
So

02:10:16.960 --> 02:10:19.100
Now they want to

02:10:19.100 --> 02:10:20.020
Stuff this stuff

02:10:20.020 --> 02:10:20.800
All into

02:10:20.800 --> 02:10:23.380
Those pension funds

02:10:23.380 --> 02:10:24.620
And retirement accounts

02:10:24.620 --> 02:10:26.100
That have been doing

02:10:26.100 --> 02:10:26.920
Private equity

02:10:26.920 --> 02:10:27.880
So let's look

02:10:27.880 --> 02:10:29.240
At how that worked out

02:10:29.240 --> 02:10:30.500
So let's play

02:10:30.500 --> 02:10:31.760
Jeff Gunlatch

02:10:31.760 --> 02:10:33.160
Is one of my

02:10:33.160 --> 02:10:35.440
One of the

02:10:35.440 --> 02:10:35.780
Money

02:10:35.780 --> 02:10:37.700
Money managers

02:10:37.700 --> 02:10:38.600
I most respect

02:10:38.600 --> 02:10:39.560
He grew up in the

02:10:39.560 --> 02:10:40.860
Bond business

02:10:40.860 --> 02:10:41.980
And then started his own

02:10:41.980 --> 02:10:42.740
For Double Line

02:10:42.740 --> 02:10:44.140
And he's remarkably

02:10:44.140 --> 02:10:45.660
Like Grantham

02:10:45.660 --> 02:10:46.780
He's remarkably

02:10:46.780 --> 02:10:48.120
Focused on what's real

02:10:48.120 --> 02:10:48.880
And how it relates

02:10:48.880 --> 02:10:49.480
To the markets

02:10:49.480 --> 02:10:51.020
So let's listen to

02:10:51.020 --> 02:10:51.920
Jeff talk about

02:10:51.920 --> 02:10:52.640
Private equity

02:10:52.640 --> 02:10:53.500
In the last quarter

02:10:53.500 --> 02:10:54.720
I really

02:10:54.720 --> 02:10:56.440
First

02:10:56.440 --> 02:10:57.620
Started thinking

02:10:57.620 --> 02:10:58.260
That something was

02:10:58.260 --> 02:10:58.720
Changing

02:10:58.720 --> 02:11:00.160
One year ago

02:11:00.160 --> 02:11:00.880
Just about

02:11:00.880 --> 02:11:02.140
Exactly one year ago

02:11:02.140 --> 02:11:03.380
When I was speaking

02:11:03.380 --> 02:11:04.940
At a conference

02:11:04.940 --> 02:11:06.300
Here in Los Angeles

02:11:06.300 --> 02:11:08.020
And before my

02:11:08.020 --> 02:11:08.920
Fireside chat

02:11:08.920 --> 02:11:09.940
The group before me

02:11:09.940 --> 02:11:10.540
Was a bunch of

02:11:10.540 --> 02:11:11.640
Private credit people

02:11:11.640 --> 02:11:13.160
And they were senior people

02:11:13.160 --> 02:11:14.160
From the big firms

02:11:14.160 --> 02:11:16.120
And I was listening to them

02:11:16.120 --> 02:11:17.020
And I got this

02:11:17.020 --> 02:11:18.060
Eerie feeling

02:11:18.060 --> 02:11:18.940
That I had heard

02:11:18.940 --> 02:11:21.120
That the tone change

02:11:21.120 --> 02:11:22.780
Sounded a lot like

02:11:22.780 --> 02:11:23.780
Where we were going

02:11:23.780 --> 02:11:25.900
Pre-global financial crisis

02:11:25.900 --> 02:11:26.960
Where suddenly

02:11:26.960 --> 02:11:27.540
Everyone was

02:11:27.540 --> 02:11:28.680
Everything looked

02:11:28.680 --> 02:11:29.740
Absolutely fantastic

02:11:29.740 --> 02:11:30.540
And then all of a sudden

02:11:30.540 --> 02:11:32.080
You started to hear

02:11:32.080 --> 02:11:32.960
Different language

02:11:32.960 --> 02:11:33.560
Being used

02:11:33.560 --> 02:11:34.260
On the panels

02:11:34.260 --> 02:11:34.940
And in this panel

02:11:34.940 --> 02:11:36.040
They started talking about

02:11:36.040 --> 02:11:36.700
Tension

02:11:36.700 --> 02:11:38.900
Between different private credit firms

02:11:38.900 --> 02:11:40.260
They started talking about

02:11:40.260 --> 02:11:41.140
The need to

02:11:41.140 --> 02:11:42.540
Increase their runway

02:11:42.540 --> 02:11:44.380
They were basically admitting

02:11:44.380 --> 02:11:45.300
That they couldn't liquidate

02:11:45.300 --> 02:11:46.300
Any of their investments

02:11:46.300 --> 02:11:47.340
And I sort of thought

02:11:47.340 --> 02:11:47.560
Wow

02:11:47.560 --> 02:11:47.940
This is

02:11:47.940 --> 02:11:49.020
This is starting to sound

02:11:49.020 --> 02:11:50.000
Like they're not as confident

02:11:50.000 --> 02:11:50.740
As they used to be

02:11:50.740 --> 02:11:51.700
And then

02:11:51.700 --> 02:11:52.960
Early last year

02:11:52.960 --> 02:11:53.920
In the first quarter

02:11:53.920 --> 02:11:55.320
I had a big insurance company

02:11:55.320 --> 02:11:56.240
Client come to me

02:11:56.240 --> 02:11:58.200
We managed money for them

02:11:58.200 --> 02:11:58.480
But they

02:11:58.480 --> 02:11:58.880
Like

02:11:58.880 --> 02:12:00.200
Most insurance companies

02:12:00.200 --> 02:12:01.660
They're drowning in private credit

02:12:01.660 --> 02:12:02.020
And private

02:12:02.020 --> 02:12:02.380
Equity

02:12:02.380 --> 02:12:03.500
They've got tons of it

02:12:03.500 --> 02:12:04.620
And this firm has

02:12:04.620 --> 02:12:05.600
Had a lot of managers

02:12:05.600 --> 02:12:06.920
And he told me

02:12:06.920 --> 02:12:07.940
He just shared with me

02:12:07.940 --> 02:12:08.620
Unsolicited

02:12:08.620 --> 02:12:10.640
That he had got an evaluation report

02:12:10.640 --> 02:12:11.620
For I think year end

02:12:11.620 --> 02:12:12.080
2024

02:12:12.080 --> 02:12:14.280
And that eight of the managers

02:12:14.280 --> 02:12:16.160
Owned exactly the same position

02:12:16.160 --> 02:12:17.260
Exactly

02:12:17.260 --> 02:12:17.600
You know

02:12:17.600 --> 02:12:19.020
If the public thing

02:12:19.020 --> 02:12:20.040
Would have been the same QSIP

02:12:20.040 --> 02:12:20.440
Literally

02:12:20.440 --> 02:12:22.480
So it was exactly the same loan

02:12:22.480 --> 02:12:23.240
And he said

02:12:23.240 --> 02:12:24.740
I was really sort of surprised

02:12:24.740 --> 02:12:25.880
I'm getting concerned

02:12:25.880 --> 02:12:27.320
Because one firm

02:12:27.320 --> 02:12:28.540
Had it marked at 95

02:12:28.540 --> 02:12:31.100
And one of the firms

02:12:31.100 --> 02:12:31.960
At the other end of the spec

02:12:31.960 --> 02:12:33.500
Had it marked at eight

02:12:33.500 --> 02:12:36.300
Okay

02:12:36.300 --> 02:12:36.760
So

02:12:36.760 --> 02:12:39.280
They have very lax rules

02:12:39.280 --> 02:12:40.480
About disclosure

02:12:40.480 --> 02:12:41.600
At mark to market

02:12:41.600 --> 02:12:43.300
And

02:12:43.300 --> 02:12:44.500
And one of the reasons

02:12:44.500 --> 02:12:46.140
That all the state pension funds

02:12:46.140 --> 02:12:47.200
Went into private equity

02:12:47.200 --> 02:12:48.020
Was the idea

02:12:48.020 --> 02:12:48.900
They could get more

02:12:48.900 --> 02:12:50.140
Yield than they could get

02:12:50.140 --> 02:12:51.260
In the liquid markets

02:12:51.260 --> 02:12:52.720
It's turned around

02:12:52.720 --> 02:12:53.960
You know

02:12:53.960 --> 02:12:55.440
If they'd stayed in the liquid markets

02:12:55.440 --> 02:12:56.000
They would have

02:12:56.000 --> 02:12:57.480
Gotten a better performance

02:12:57.480 --> 02:12:58.960
And now they have

02:12:58.960 --> 02:12:59.700
No liquidity

02:12:59.700 --> 02:13:00.940
Because what is happening

02:13:00.940 --> 02:13:01.340
All

02:13:01.340 --> 02:13:02.320
You know

02:13:02.320 --> 02:13:03.640
All throughout this year

02:13:03.640 --> 02:13:04.340
Is funds

02:13:04.340 --> 02:13:05.180
Are stopping

02:13:05.180 --> 02:13:05.880
Redemptions

02:13:05.880 --> 02:13:06.540
Because they're getting

02:13:06.540 --> 02:13:07.600
Too many redemptions

02:13:07.600 --> 02:13:07.900
And they

02:13:07.900 --> 02:13:09.080
Then they freeze

02:13:09.080 --> 02:13:10.140
And it's happening

02:13:10.140 --> 02:13:10.560
In Europe

02:13:10.560 --> 02:13:11.080
It's happening

02:13:11.080 --> 02:13:12.520
All across the United States

02:13:12.520 --> 02:13:13.620
Holy cow

02:13:13.620 --> 02:13:14.160
Yeah

02:13:14.160 --> 02:13:15.420
Yeah

02:13:15.420 --> 02:13:15.680
So

02:13:15.680 --> 02:13:16.500
Remember

02:13:16.500 --> 02:13:17.020
Harvard

02:13:17.020 --> 02:13:18.000
Had trouble

02:13:18.000 --> 02:13:18.440
You know

02:13:18.440 --> 02:13:19.240
Harvard and Yale

02:13:19.240 --> 02:13:20.240
Yale was a big leader

02:13:20.240 --> 02:13:21.000
In private equity

02:13:21.000 --> 02:13:21.540
Then Harvard

02:13:21.540 --> 02:13:22.360
Went with them

02:13:22.360 --> 02:13:23.820
They did a huge amount

02:13:23.820 --> 02:13:24.560
Of private equity

02:13:24.560 --> 02:13:25.600
I thought it was

02:13:25.600 --> 02:13:26.180
Because they wanted

02:13:26.180 --> 02:13:27.000
To do the plunder

02:13:27.000 --> 02:13:28.180
And disaster capitalism

02:13:28.180 --> 02:13:29.040
Because they fired

02:13:29.040 --> 02:13:29.900
Most of their

02:13:29.900 --> 02:13:30.720
Internal staff

02:13:30.720 --> 02:13:31.260
Internal staff

02:13:31.260 --> 02:13:32.200
You and I talked about it

02:13:32.200 --> 02:13:33.020
In 2017

02:13:33.020 --> 02:13:34.240
It sort of went dark

02:13:34.240 --> 02:13:35.940
As to what they were doing

02:13:35.940 --> 02:13:37.300
Well when they got in trouble

02:13:37.300 --> 02:13:38.320
With the Trump administration

02:13:38.320 --> 02:13:41.420
They got in a liquidity bind

02:13:41.420 --> 02:13:42.500
And so they went out

02:13:42.500 --> 02:13:43.300
To the bond market

02:13:43.300 --> 02:13:44.280
Couldn't raise everything

02:13:44.280 --> 02:13:45.040
They need

02:13:45.040 --> 02:13:46.540
And then because

02:13:46.540 --> 02:13:47.220
Their endowment

02:13:47.220 --> 02:13:48.640
Wasn't sufficiently liquid

02:13:48.640 --> 02:13:50.680
They put an enormous

02:13:50.680 --> 02:13:51.820
Amount of private equity

02:13:51.820 --> 02:13:52.640
Up for bid

02:13:52.640 --> 02:13:53.820
In the secondary market

02:13:53.820 --> 02:13:54.720
Yale too

02:13:54.720 --> 02:13:56.320
It's what's called

02:13:56.320 --> 02:13:57.140
A cut and run

02:13:57.140 --> 02:13:58.400
Get out

02:13:58.400 --> 02:13:58.800
You know

02:13:58.800 --> 02:14:00.240
He who panics first

02:14:00.240 --> 02:14:01.120
Panics best

02:14:01.120 --> 02:14:02.260
Is the old saying

02:14:02.260 --> 02:14:03.500
When you go into

02:14:03.500 --> 02:14:04.520
This kind of situation

02:14:04.520 --> 02:14:04.900
So

02:14:04.900 --> 02:14:07.020
The private equity market

02:14:07.020 --> 02:14:08.440
Is in serious trouble

02:14:08.440 --> 02:14:09.120
Part of it is

02:14:09.120 --> 02:14:10.200
The interest rates went up

02:14:10.200 --> 02:14:10.940
So nobody can get

02:14:10.940 --> 02:14:11.520
Their exits

02:14:11.520 --> 02:14:12.060
Right

02:14:12.060 --> 02:14:14.340
Okay now

02:14:14.340 --> 02:14:16.620
As this is happening

02:14:16.620 --> 02:14:20.260
Pushback is also happening

02:14:20.260 --> 02:14:21.820
And people are getting scared

02:14:21.820 --> 02:14:23.400
So speaking of

02:14:23.400 --> 02:14:24.020
Scaredy cats

02:14:24.020 --> 02:14:24.820
Let's look at

02:14:24.820 --> 02:14:25.760
Video 21

02:14:25.760 --> 02:14:27.920
One of America's

02:14:27.920 --> 02:14:29.020
Most influential

02:14:29.020 --> 02:14:31.100
And weirdest billionaires

02:14:31.100 --> 02:14:32.140
Has packed up

02:14:32.140 --> 02:14:33.160
Fled the country

02:14:33.160 --> 02:14:34.060
And moved to

02:14:34.060 --> 02:14:35.180
Of all places

02:14:35.180 --> 02:14:36.320
Argentina

02:14:36.320 --> 02:14:37.700
Peter Thiel

02:14:37.700 --> 02:14:40.060
Co-founder of PayPal and Palantir

02:14:40.060 --> 02:14:42.080
One of Facebook's earliest backers

02:14:42.080 --> 02:14:43.920
And Republican megadonor

02:14:43.920 --> 02:14:47.220
Who has publicly warned about the coming of the Antichrist

02:14:47.220 --> 02:14:50.640
Has bought a 12 million dollar mansion in Buenos Aires

02:14:50.640 --> 02:14:53.840
And enrolled his children into local schools

02:14:53.840 --> 02:14:58.240
But while Thiel has moved himself and his family to Argentina

02:14:58.240 --> 02:15:01.260
His fortune is doing the exact opposite

02:15:01.260 --> 02:15:02.980
In a single quarter

02:15:02.980 --> 02:15:09.820
His company booked 687 million dollars in revenue from the United States government alone

02:15:09.820 --> 02:15:15.580
Meanwhile his venture firm just wrote the largest single check in its history

02:15:15.580 --> 02:15:21.120
For a defense contractor that landed a 20 billion dollar US Army deal

02:15:21.120 --> 02:15:24.960
So instead of fleeing the American system

02:15:24.960 --> 02:15:29.080
Thiel now owns a larger piece of it than ever before

02:15:29.080 --> 02:15:34.520
So do you know one of the reasons that he went to Argentina

02:15:34.520 --> 02:15:37.680
I can think of several but let's hear yours

02:15:37.680 --> 02:15:40.240
So this is one of my theories

02:15:40.240 --> 02:15:45.420
Argentina is now considering starting LLCs

02:15:45.420 --> 02:15:51.940
Limited liability companies that can be started and owned by an AI agent

02:15:51.940 --> 02:15:56.920
Not good

02:15:56.920 --> 02:15:58.520
But not surprising

02:15:58.520 --> 02:16:02.440
So if the where's daddy software shoots the wrong leaders

02:16:02.440 --> 02:16:05.560
Mommy the AI did it not me

02:16:05.560 --> 02:16:06.180
Yeah

02:16:06.180 --> 02:16:06.960
Right

02:16:06.960 --> 02:16:07.680
Yeah

02:16:07.680 --> 02:16:08.920
Right

02:16:08.920 --> 02:16:10.060
Holy cow

02:16:10.060 --> 02:16:12.980
Well I was about to say

02:16:12.980 --> 02:16:15.020
Yeah if you want to do business

02:16:15.020 --> 02:16:19.160
With a group of assassins and war veterans

02:16:19.160 --> 02:16:21.160
Argentina is the place to do it

02:16:21.160 --> 02:16:26.880
And so much the better if you can make AIs corporate agents

02:16:26.880 --> 02:16:29.900
Unbelievable

02:16:29.900 --> 02:16:32.440
Yeah well not surprising

02:16:32.440 --> 02:16:36.020
Yeah so here's what's happened to the Treaty of Westphalia

02:16:36.020 --> 02:16:36.720
Yep

02:16:36.720 --> 02:16:37.740
Yep

02:16:37.740 --> 02:16:39.940
Okay

02:16:39.940 --> 02:16:41.780
So two more sucking

02:16:41.780 --> 02:16:43.100
Sucking

02:16:43.100 --> 02:16:45.380
The giant sucking sound stories

02:16:45.380 --> 02:16:49.680
I did an interview on Miles Franklin

02:16:49.680 --> 02:16:55.100
About this idea of financing the control grid and I want to keep coming back to it

02:16:55.100 --> 02:16:58.440
As you know my second company I have an investment screen company

02:16:58.440 --> 02:17:03.860
And what happened I was an investment advisor and one of the managers I kept working with me kept coming

02:17:03.860 --> 02:17:08.360
Back and saying please do a screen please do a screen people want you to do a screen

02:17:08.360 --> 02:17:13.560
Because they want to be able to know that they're not putting their money into anything that you wouldn't

02:17:13.560 --> 02:17:19.560
And that's all my money in the stock market is invested in a fund that uses my screen

02:17:19.560 --> 02:17:26.280
So I don't and what one of the things I know from doing that is there's a world of great companies

02:17:26.280 --> 02:17:31.660
That are not doing the control grid or not destroying the planet do you know what I mean there are plenty

02:17:31.660 --> 02:17:38.000
Of good companies that just go around and do something useful so you don't have to you don't have to

02:17:38.000 --> 02:17:43.120
Finance the control grid you can have plenty of options outside the control grid anyway so I did this

02:17:43.120 --> 02:17:51.740
Interview but somebody took it and put it together with a interview that Ed Dowd did

02:17:51.740 --> 02:18:02.820
I think the master plan is to implement total control and to run a society with two sets of

02:18:02.820 --> 02:18:09.800
Rules one for a small group of oligarchs so I don't know if you ever saw the interview after

02:18:09.800 --> 02:18:14.560
Jerry Kushner left the first Trump administration he gave an interview and he said given what's

02:18:14.560 --> 02:18:18.980
Happening in biotech I'm going to be the first generation to live forever the last generation

02:18:18.980 --> 02:18:23.460
Not to live forever I think that there's a good probability that my generation is hopefully with

02:18:23.460 --> 02:18:28.020
The advances in science either you know the first generation to live forever or the last

02:18:28.020 --> 02:18:33.740
Generation that's going to die I just had one of our subscribers meet have dinner with Steve Wolfram

02:18:33.740 --> 02:18:38.880
And Wolfram was saying it doesn't matter that we do the digital control grid because if you look at

02:18:38.880 --> 02:18:42.900
What AI can do with biotech we can live forever you know if we look at sort of

02:18:42.900 --> 02:18:46.380
What the important developments that might happen in the future are

02:18:46.380 --> 02:18:49.680
Probably the one that's going to be sort of the biggest discontinuity in human

02:18:49.680 --> 02:18:54.380
History is when human immortality is achieved which it undoubtedly will be how

02:18:54.380 --> 02:18:58.400
Will it be achieved there are two basic paths it's either you know technology and

02:18:58.400 --> 02:19:04.440
Electronics and so on or it's biology so now if you can't let 8 billion people

02:19:04.440 --> 02:19:07.440
Live forever because you're going to have an environmental problem so you have one

02:19:07.440 --> 02:19:11.280
Group of people who apparently think they're going to live forever and then

02:19:11.280 --> 02:19:16.240
You have another set of rules for everybody else and you want to put them

02:19:16.240 --> 02:19:21.000
On a trajectory to steadily decline in terms of number of population so I think

02:19:21.000 --> 02:19:26.880
You're looking at a very long-term plan to reduce the population and create a

02:19:26.880 --> 02:19:32.640
Two-class society where you have you know the oligarchs and then everybody else and

02:19:32.640 --> 02:19:37.440
And the oligarchs are free of having to manage everybody else one because

02:19:37.440 --> 02:19:42.880
They have complete control but they can say they can turn it over to AI and let the AI do it and then

02:19:42.880 --> 02:19:50.320
When things go wrong they can just blame the AI it wasn't me it was the AI well a Malthusian society

02:19:50.320 --> 02:19:56.320
And that vision I believe is something that you know has been pushed by the likes of Bill Gates

02:19:56.320 --> 02:20:05.120
Who's buying up all the farmland in the United States and again just to play devil's advocate here

02:20:05.120 --> 02:20:11.840
When you speak of these oligarchs like who are they what evidence convinces you know that this is a

02:20:11.840 --> 02:20:19.280
Coordinated effort rather than the natural evolution of tech and financial systems I used to live and work

02:20:19.280 --> 02:20:24.880
With it that's amazing I think I've got the best FHA commissioner in the history of HUD it's the first

02:20:24.880 --> 02:20:31.600
Woman commissioner in the history of HUD and I'm very proud that the Bush administration was

02:20:31.600 --> 02:20:37.360
Able to attract someone of Austin Fitts talent off of Wall Street to come down and help us and she's an

02:20:37.360 --> 02:20:46.720
Expert in financing so you know I lived in that world and I watched them become more and more alienated

02:20:46.720 --> 02:20:52.400
From who is them so it's the people who run the financial system at any given time it's a

02:20:52.400 --> 02:20:58.080
Hundred to a thousand people who run the different key spots in the banks the insurance companies the central

02:20:58.080 --> 02:21:05.120
Bank and the treasury and if you look at you know and that system is very much done by consensus

02:21:05.120 --> 02:21:11.440
Through all these different groups and meetings and everything else very organic and you know but

02:21:11.440 --> 02:21:19.440
I saw them reach a wide consensus that you couldn't trust the average person to behave in a responsible way

02:21:19.440 --> 02:21:27.520
And you know and so you had to assert more central control and essentially by giving people lots of

02:21:27.520 --> 02:21:34.640
Consumer attention and choice move them out of having any political say whatsoever so you wanted to reduce

02:21:34.640 --> 02:21:39.520
Them to the point where their vote or their participation in the political system didn't mean

02:21:39.520 --> 02:21:44.640
Anything but you wanted to do it in a way where you couldn't you could persuade them to take all their

02:21:44.640 --> 02:21:51.200
Capital and invest it in a way that you could use it to build in the direction you wanted to build

02:21:53.600 --> 02:22:01.600
Well the stock market is telling the most highly valued companies are ai companies ai is going to be

02:22:01.600 --> 02:22:07.200
You know if you want to be cynical which i am the market is telling you that the most valuable stocks

02:22:07.200 --> 02:22:15.200
Are the ones that are building the digital prison you know yeah so that's the only growth in the

02:22:15.200 --> 02:22:22.400
Country at the moment is the building of the digital prison think about that for a second geez that's it

02:22:23.440 --> 02:22:29.120
You know the growth in the sectors are building our future enslavement that's where the

02:22:29.120 --> 02:22:35.600
Last bit of growth is coming from so right now you know if i go to a meeting with people who are trying

02:22:35.600 --> 02:22:41.760
To stop the control grid and trying to stop a data center i can get them to pull out their portfolios

02:22:41.760 --> 02:22:50.320
And i can show them they're financing very data centers they're trying to stop that's it

02:22:52.880 --> 02:22:58.560
It's so i wanted to provide an alternative because the question is what can people do

02:22:59.440 --> 02:23:04.960
Right we always come back to what people can do so you know how i talk about financing the

02:23:04.960 --> 02:23:11.680
People bank do you remember my people bank story when the litigation started i had a quarter million

02:23:11.680 --> 02:23:16.800
Dollars lender given to friends and then it was the one source of money they couldn't cut off people

02:23:16.800 --> 02:23:22.640
Started paying me back or right you know one wealthy uncle said well she helped others so i'll help her but

02:23:22.640 --> 02:23:32.480
You know over the next 11 years i had gifted or lent 250 000 over the next 11 years i got re repaid

02:23:32.480 --> 02:23:38.560
Or gifted 250 000 and that's what kept me alive i would never have made it without that money yeah anyway

02:23:38.560 --> 02:23:44.080
So i wanted to do before we finish this thing i wanted to finish on a positive note and show you a

02:23:45.120 --> 02:23:52.320
A positive people bank example of somebody who did the same thing so i don't know if you're a willing

02:23:52.400 --> 02:24:02.000
Nelson fan i love oh so i like his music so here's willy nelson and the people bank in 1990 federal agents

02:24:02.000 --> 02:24:08.800
Seized everything willy nelson owned his ranch his recording studio his homes in six states his golf

02:24:08.800 --> 02:24:17.040
Course every gold record he had ever earned he owed the irs 32 million dollars he had not stolen a penny

02:24:17.920 --> 02:24:23.440
The accounting firm he trusted for years had hidden his money in tax shelters that turned out to be

02:24:23.440 --> 02:24:29.920
Illegal he didn't even know there was a problem until the agents arrived as the trucks pulled up to his

02:24:29.920 --> 02:24:36.960
Studio his daughter lana ran inside and grabbed the one thing she couldn't let them take a battered classical

02:24:36.960 --> 02:24:46.560
Guitar named trigger willy had bought it in 1969 for 750 dollars it had played on every album he had ever

02:24:46.560 --> 02:24:52.800
Recorded the wood near the sound hole was so worn down by his fingernails that there was a literal hole

02:24:52.800 --> 02:25:01.040
In the body willy had once said when trigger goes i'll quit lana shipped the guitar 4 000 miles across the

02:25:01.040 --> 02:25:09.120
Pacific to hawaii and hid it in a closet the irs never found it most 57 year olds in that situation would

02:25:09.120 --> 02:25:15.760
Have filed bankruptcy willy recorded an album he sat down alone with the guitar the government didn't know

02:25:15.760 --> 02:25:24.960
Existed and made a stripped down record called who'll buy my memories the irs tapes it raised 3.6 million

02:25:24.960 --> 02:25:32.480
Dollars toward his debt but the most beautiful part of the story almost nobody tells the irs held public

02:25:32.480 --> 02:25:39.920
Auctions of everything they had taken they expected to make millions they didn't the farmers willy had spent

02:25:39.920 --> 02:25:45.440
Decades helping through farm aid quietly showed up at the auctions they pulled their money and bought

02:25:45.440 --> 02:25:51.760
Back his ranch a retired football coach bought his golf course and said he'd sell it back to willy anytime

02:25:51.760 --> 02:25:58.400
He wanted it piece by piece the community willy had spent 40 years helping bought his life back for him

02:25:59.040 --> 02:26:06.800
In 1993 the debt was settled lana flew to maui opened the closet and brought trigger home willy is 92 years

02:26:06.800 --> 02:26:14.160
Old now he still tours he still plays the same guitar he had spent his life giving things away he never realized

02:26:14.160 --> 02:26:23.040
The world had been keeping count yeah so it's true he had been incredibly generous especially the farmers who

02:26:23.040 --> 02:26:31.680
Were being targeted by the you know the system in very evil ways and well i'm not surprised and i'll i'll

02:26:31.680 --> 02:26:42.800
Tell you a little personal anecdote about him that i'm not surprised i actually went to his concerts that

02:26:42.800 --> 02:26:49.920
He used to have down in texas on his ranch i went there with some friends one summer when i was in

02:26:49.920 --> 02:26:58.000
Graduate school a long time ago but listened to his concert and everything and it was just absolutely

02:26:58.800 --> 02:27:05.760
Boiling hot out there that day i mean it was just unbelievable but catherine you would not have

02:27:05.760 --> 02:27:12.320
Believed the crowd that showed up to hear him i can believe it yeah it was off the charts and

02:27:12.800 --> 02:27:19.760
What struck me talking to some of them was many of them were from the area you know around his ranch

02:27:20.560 --> 02:27:30.000
And they knew him - and they had good things to say about him how he was involved in the

02:27:30.000 --> 02:27:37.280
Community and you know this story makes a lot of sense so yeah i can believe it that they

02:27:37.280 --> 02:27:42.480
Would do that for him so if you look at how willie nelson made his money he made it doing something

02:27:42.480 --> 02:27:50.640
Productive right you know he earned his money and then he was very generous with it and it paid well

02:27:50.640 --> 02:27:59.040
He also wrote the music for one of my favorite country singers Patsy Cline oh that's right that's

02:27:59.040 --> 02:28:06.960
Right yeah well somebody to be inspired not everybody uses their capital to finance the control

02:28:06.960 --> 02:28:14.720
Grid and please whatever you do don't do it i'm i'm done with them to the extent possible when i

02:28:14.720 --> 02:28:21.040
When i lost my facebook account and got so frustrated trying to get it back jumping through

02:28:21.040 --> 02:28:27.280
All their hoops i just said this is ridiculous i'm gone so i'm writing letters to my family now

02:28:27.280 --> 02:28:33.120
To let them know you know taking a stamp and putting it on a real envelope and writing a real letter and

02:28:33.120 --> 02:28:39.440
Putting it in the mail right no more facebook do you know how much money we will spend this year

02:28:39.440 --> 02:28:47.280
Dealing with imposters i can believe it's off the charts it's off the charts it's it's a big number

02:28:47.920 --> 02:28:53.600
And we have two firm we got one from one in america one in europe and we're now having to

02:28:53.600 --> 02:28:59.520
Trademark things and you know i suspect by the time it's over this year we'll spend this is not including

02:28:59.520 --> 02:29:05.280
Our time you know for us it's a major project we'll spend thirty or forty thousand dollars before this is

02:29:05.280 --> 02:29:13.920
Over oh it's unbelievable it's it's obscene is what it is and there's there's no reason for it well but

02:29:13.920 --> 02:29:22.320
There is a reason for it so on x we've had hundreds of people tell us that they've complained

02:29:22.320 --> 02:29:27.840
About the imposters and x won't take them down i mean they want you know so x is supporting this one way

02:29:27.840 --> 02:29:34.560
Or another but my favorite one was somebody asked me if i'd like to they wanted me to hook me up with

02:29:34.560 --> 02:29:41.520
Elon musk and i said well first of all i'm not interested but second of all you need to know that

02:29:41.520 --> 02:29:47.840
If you did introduce me to elon musk the first two questions would be or with the first

02:29:47.840 --> 02:29:55.200
Three questions would be how long have you been an actor how much are you paid and who issues the check

02:29:56.720 --> 02:30:00.480
Right yeah and they just said oh you're so difficult

02:30:02.160 --> 02:30:09.520
Okay so the giant sucking sound any other thoughts before we close this other than please i'm

02:30:09.520 --> 02:30:16.640
Good okay last story in part one mr global in your street we just published a wonderful wrap of the

02:30:16.640 --> 02:30:21.760
First quarter wrap-up was by Elsa von Hamlin mr global in your street if you haven't read it's

02:30:21.760 --> 02:30:24.960
Incredible and we'll have it out in a hard copy we're working on it now

02:30:25.600 --> 02:30:32.000
The pushback so citizens say no to control grid hardware data centers drones and flat cameras

02:30:32.560 --> 02:30:41.680
The pushback is unbelievable and you know i drove and flow i in two months i went to 20 cities in

02:30:41.680 --> 02:30:51.360
The united states and drove 5 000 miles and everywhere i went it's a whole new world everybody sees it they

02:30:51.360 --> 02:30:55.520
Get or i shouldn't say everybody but so many people see it and get it and say you know i'm

02:30:55.520 --> 02:31:02.560
Not paying for this because they're using taxpayers money to do it yep there are places there are

02:31:02.560 --> 02:31:09.280
Places actually where people are physically late at night going out and taking down those slot cameras

02:31:09.280 --> 02:31:14.960
Yeah we're going to talk about that so let me tell you the number one failure of mr global on

02:31:14.960 --> 02:31:22.400
Marketing you want to see the worst marketing yet for the control grid sure my ministers all will also

02:31:22.400 --> 02:31:31.360
Proceed with the introduction of digital id that will modernize how citizens interact with public services

02:31:33.280 --> 02:31:35.360
Doesn't he look trustworthy

02:31:40.480 --> 02:31:45.680
So let me play a couple more because you know something our subjects will be billeting soldiers

02:31:45.680 --> 02:31:48.720
In their homes as we round up their arms

02:31:51.840 --> 02:31:59.680
Okay here's Eric Schmidt who we just saw in the last story trying to give a speech a commencement

02:31:59.680 --> 02:32:05.920
Speak at Arizona University and this is what the students thought of what he was saying okay let's

02:32:05.920 --> 02:32:09.360
Architects of artificial intelligence interesting

02:32:14.080 --> 02:32:20.080
The question is whether you will help shape artificial intelligence we do not know

02:32:21.440 --> 02:32:28.000
We do not know the precise contours of what this if you'd let me make this point please

02:32:35.680 --> 02:32:43.600
Choose a diversity of perspectives including the perspective of the immigrant who has so often

02:32:43.600 --> 02:32:51.440
Been the person who came to this country and made it better we thought that we were adding stones to a

02:32:51.440 --> 02:32:59.040
Cathedral of knowledge that humanity had been constructing for centuries but the world we built

02:32:59.680 --> 02:33:05.840
Artificial intelligence that reflects those values the world will be unimaginably better for it

02:33:10.720 --> 02:33:19.600
You are surrendering your agency we have only seen maybe one percent of what is to come i'm very

02:33:19.600 --> 02:33:25.440
Proud of us if you don't care about science that's okay because ai is going to touch everything else as

02:33:25.440 --> 02:33:33.360
Well whatever path you choose AI will become part of how work is done if you want to learn something

02:33:33.360 --> 02:33:39.680
Entirely new and you want to have a personal tutor in any language for the cost of an internet connection

02:33:39.680 --> 02:33:45.200
You can have it you can now assemble a team of AI agents to help you with the parts that you could

02:33:45.200 --> 02:33:53.440
Never accomplish on your own when someone offers you a seat on the rocket ship you do not ask which seat

02:33:53.440 --> 02:34:02.720
You just get on the rocket ship is here let me give you some advice first find a way to say yes listen

02:34:04.000 --> 02:34:09.520
You bring the judgment you bring the conscience you bring the perspective

02:34:09.520 --> 02:34:17.360
I'll give you one final reflection happiness i have come to believe is not the same as joy

02:34:18.480 --> 02:34:25.520
Happiness is derived from meaning in your work meaning in your relationships thank you very much

02:34:25.520 --> 02:34:28.160
And good night

02:34:37.600 --> 02:34:41.840
Okay so i would say that the certainly the young people

02:34:43.760 --> 02:34:46.640
Have a pretty good sense of

02:34:48.480 --> 02:34:51.760
Of the fact that this leadership cannot be trusted

02:34:54.000 --> 02:35:01.200
Well i would think that at least part of what we were hearing is coming from that sentiment the other

02:35:01.200 --> 02:35:10.640
Part of it i have to say having been a college professor and having taught education majors

02:35:11.280 --> 02:35:19.440
I go back to the warning i put in the book i co-wrote with gary lawrence rotten to the common core

02:35:20.480 --> 02:35:27.360
Education the so-called discipline of education and i don't acknowledge it as a genuine academic

02:35:27.360 --> 02:35:35.520
Discipline it's it's nothing but an indoctrination school for cultural marxism so a lot of that booing

02:35:35.520 --> 02:35:42.320
I think is coming out of the fact that these are as education majors some of the most indoctrinated

02:35:42.320 --> 02:35:50.640
People in the country really and oh absolutely they are catherine i have go back and read what i said

02:35:50.640 --> 02:36:00.880
In common core education as a field to get your teaching certificate to light the license to teach

02:36:01.760 --> 02:36:09.920
You are exposed to all sorts of marxist rot in the name oh i agree i have pedagogy but the other part of

02:36:09.920 --> 02:36:19.760
It is that to me that video is a vignette of what's wrong because it's it's they're both talking

02:36:19.760 --> 02:36:27.280
The same language he's talking the language of centralization and control and so are most of

02:36:27.280 --> 02:36:35.200
Those students so it to me it was in other words the students are booing him out of that marxist

02:36:35.200 --> 02:36:42.960
Indoctrination i think they're booing him because they believe he wants to do what Melania Trump proposed

02:36:42.960 --> 02:36:49.280
Which is with AI you can have robots be the teachers well i again i go back to what i just said i think

02:36:49.280 --> 02:36:56.560
Some of the booing is genuine right but i think some of it is just incomprehensible marxist cultural

02:36:56.560 --> 02:37:05.200
Reaction against it's not coming from a sincere opposition so i agree with you about the education

02:37:05.200 --> 02:37:11.840
Major in this in the united states where i don't where i don't agree on this one is i think

02:37:13.440 --> 02:37:21.280
My personal experience is that teaching is not about transferring data no that's right and it

02:37:21.280 --> 02:37:28.240
Requires a human connection and experience yeah and where that human connection and experience happens

02:37:29.680 --> 02:37:36.880
Magical things happen if you take the human connection out of it won't work it well again

02:37:36.880 --> 02:37:43.040
Teaching it to i totally agree teaching is not about the transference of data and that

02:37:43.040 --> 02:37:50.080
Is what we have made it that's what we have made it right but i think those kids know that

02:37:50.640 --> 02:37:55.680
I really some of them may and again i'm not disagreeing but i am telling you

02:37:56.400 --> 02:38:02.800
As a matter of statistical probability many of those students are not would not be clued into

02:38:02.800 --> 02:38:12.640
What we're trying to say the most american educators do not know

02:38:12.640 --> 02:38:19.840
The difference between teaching and professing right professing is teaching people how to think

02:38:20.720 --> 02:38:29.680
In the terms of their discipline and it barely exists anymore in the american classroom

02:38:29.680 --> 02:38:38.240
That's why we're so stupid in spite of the fact that you know we have a whole battery of standardized

02:38:38.240 --> 02:38:43.680
Tests that we put people through which measure in my opinion measure basically nothing

02:38:44.880 --> 02:38:52.880
So i did too i taught two classes about six months ago in the united states in florida and what i will tell

02:38:52.880 --> 02:39:01.520
You is the majority of kids in that room did not have the physical energy or chemistry necessary to really

02:39:01.520 --> 02:39:08.080
Learn i agree had nothing to do with the teachers the teacher was very good actually and but and

02:39:08.240 --> 02:39:12.240
And you had a few kids in the room who did have the physical energy and the training

02:39:12.880 --> 02:39:20.720
To learn and to be interested and they were going really fast but the spectrum of who could

02:39:20.720 --> 02:39:27.520
Learn and who couldn't was very wide and scary it is okay so let me get back to the mr global in your

02:39:27.520 --> 02:39:35.840
Street one of the things that's been very gratifying for me is the many citizens are realizing

02:39:36.480 --> 02:39:43.280
That the businesses who show up and get local approval to do data centers or flock cameras

02:39:43.920 --> 02:39:50.720
They lie they cheat they steal yeah so i want to show you the next video somebody made a video to help

02:39:50.720 --> 02:39:56.080
People come to grips with how bad this is and what they're facing when it comes to managing you know

02:39:56.080 --> 02:40:02.240
Opposing your local process so let's play 26. We're gonna need a ton of water but we'll tell the product

02:40:02.240 --> 02:40:06.240
That it's not a lot of water and that's gonna work it has they're gonna find out i got this

02:40:06.240 --> 02:40:12.560
Well tell them it's closed loop technology how often do you have to change the water what are you

02:40:12.560 --> 02:40:16.800
Putting in the water are you putting PFAS in that water they last forever is poison shut your mouth

02:40:16.800 --> 02:40:22.480
We're just gonna tell them it's a trade secret no more questions it's a trade secret you don't have to

02:40:22.480 --> 02:40:29.680
Know they don't have to know it's a trade secret you sons of how dare you ask me what i put in your water

02:40:29.680 --> 02:40:36.000
You scared me right there if anyone still wants to complain we'll just say you use email you use social media you

02:40:36.000 --> 02:40:41.040
Use a data center even though an AI data center is completely different because you use a ton of power

02:40:41.040 --> 02:40:45.760
It feels like a lot hey it should feel like a lot because it is a lot but we need it we need

02:40:45.760 --> 02:40:49.760
Because there's no way for us to advertise you with all the data we steal from you if you don't give us

02:40:49.760 --> 02:40:53.280
The gigawatt listen to the man how are we gonna get that approved that's a good question because we'll

02:40:53.280 --> 02:40:58.560
Need power lines and that'll steal a bunch of land from people through eminent domain right you can't live

02:40:58.560 --> 02:41:03.760
Here you can't live here oh i know the utility they'll make billions making us new gas plants we'll just let

02:41:03.760 --> 02:41:08.480
Their lobbyists do the line for us but the product wants renewables that's how much 70 percent renewable

02:41:08.480 --> 02:41:12.240
But do we put that in the contract do we put that in the contract no we didn't put that in a contract

02:41:12.240 --> 02:41:16.880
Are you crazy we can't actually do it we're just gonna say it what about all the people who live

02:41:16.880 --> 02:41:21.360
Around there are you talking about the poor farmers and the working class across the country yeah that's

02:41:21.360 --> 02:41:25.760
Exactly what i mean i can't help it they're not rich that's their fault they'll fly over states for a

02:41:25.760 --> 02:41:31.120
Reason the defense rests your honor is it a land grab yeah could their power bills go up and there be

02:41:31.120 --> 02:41:36.960
Rolling blackouts yes but you know what mass surveillance isn't free yeah these

02:41:36.960 --> 02:41:43.280
Politicians are so dumb they'll give us tax breaks yes tax breaks now bailouts later genius yes the

02:41:43.280 --> 02:41:48.400
Town is never gonna vote for that the town doesn't have to the common council will -huh we only need

02:41:48.400 --> 02:41:52.800
To convince a few people not the whole town are you kidding me yeah okay but what about when people show

02:41:52.800 --> 02:41:57.520
Up to these council meetings nobody's gonna show up to the common council meetings no one's ever gonna find

02:41:57.520 --> 02:42:04.000
I know i'm proud of us oh have you been filming this whole thing yeah son of a

02:42:09.600 --> 02:42:14.880
You know the rolling black outside blackouts thing you know i'm i'm sitting here thinking okay

02:42:14.880 --> 02:42:20.640
We're building out the surveillance grid and it's going to surveil everybody but it's going to cause

02:42:20.640 --> 02:42:27.040
Rolling blackouts because of the power grid not being able to help it and when the blackouts on we won't

02:42:27.040 --> 02:42:38.240
Be able to surveil everybody so these people are so nuts well but here's what's interesting you're now

02:42:38.240 --> 02:42:43.520
Beginning to see the shared intelligence go to work and people sharing documents and handbooks

02:42:43.520 --> 02:42:50.960
On how to stop yeah flat cameras or how to stop so it's speeding up it's incredible so here's here's

02:42:50.960 --> 02:42:58.320
A california resident going up against flock camera in his area my name is brett and i've been

02:42:58.320 --> 02:43:04.480
A corona resident in district 4 for 15 years i'm here to introduce d flock corona a community

02:43:04.480 --> 02:43:09.840
Coalition asking this council to cancel the city's contract with flock safety and remove the cameras

02:43:09.840 --> 02:43:16.080
That have been deployed throughout our city our website is d flock dash corona dot org i'm here

02:43:16.080 --> 02:43:20.560
Because new flock cameras were recently installed between my home and my daughter's school so now every

02:43:20.560 --> 02:43:26.720
Time i make that drive my family's being photographed and logged into a giant corporate database i want

02:43:26.720 --> 02:43:31.360
To be clear what these cameras actually are and i say that with somebody with 20 years of experience in

02:43:31.360 --> 02:43:36.960
It i've served as the chief network architect for fortune 500 companies i've designed data centers and

02:43:36.960 --> 02:43:41.600
Today i work on cloud infrastructure for one of the largest loan origination companies in the country

02:43:42.720 --> 02:43:48.640
I'm not speculating on how this technology work i've read their patents and i know how it works flock

02:43:48.640 --> 02:43:53.200
Advertises these cameras as simple license plate readers their own patents tell a different story

02:43:53.200 --> 02:43:57.760
They're ai-powered surveillance machines that capture every passing vehicle in person and transmit

02:43:57.760 --> 02:44:03.120
That data to a private corporate cloud making it queryable by a multitude of state and federal agencies

02:44:03.120 --> 02:44:07.840
The city of corona does not control that database and corona residents have no public record rights

02:44:07.840 --> 02:44:14.400
Against a private company's servers our daily movements are being harvested by a 7.5 billion dollar

02:44:14.400 --> 02:44:20.720
Corporation that only answers to venture capital investors not to us flock did not reach that

02:44:20.720 --> 02:44:27.440
Valuation on their per camera subscription fees that math doesn't add up the city council should

02:44:27.440 --> 02:44:32.640
Also understand who they're doing business with flock ceo is asked whether the company had any federal

02:44:32.640 --> 02:44:38.160
Contracts he said no that was a lie public records revealed that flock had been secretly running a

02:44:38.160 --> 02:44:42.720
Pilot program giving the u.s border patrol access to local police camera data without the knowledge of

02:44:42.720 --> 02:44:49.680
The cities that paid for the cameras now consider who's behind the company and where your data flows flock

02:44:49.680 --> 02:44:54.640
Integrates directly with palantir a data fusion platform with a 30 million dollar contract with ice

02:44:54.640 --> 02:44:59.360
Peter thiel the founder of palantir is also one of flocks primary investors these are not separate

02:44:59.360 --> 02:45:04.320
Companies with separate agendas they're connected actors that are building a connected infrastructure

02:45:05.120 --> 02:45:10.880
Palantir's own ceo stated publicly just this month that his technology is being used as a political instrument

02:45:10.880 --> 02:45:16.560
To designed to reduce the political power of certain voters and that's the ecosystem that our corona

02:45:16.560 --> 02:45:23.600
Cameras are feeding into we're not anti-police at all we're against mass surveillance of innocent

02:45:23.600 --> 02:45:29.280
Residents by a company with a documented record of deception built by investors with a stated political

02:45:29.280 --> 02:45:34.880
Agenda we're asking the city council to start auditing the queries made against flocks database to

02:45:34.880 --> 02:45:40.000
Disclose any data sharing agreements and to take a vote to cancel the flock safety contract

02:45:40.880 --> 02:45:49.040
Yep so you're now seeing people who are exceptionally capable and exceptionally credentialed pushing back

02:45:49.920 --> 02:45:54.240
Well you're seeing you're seeing that and you're seeing something else as i indicated earlier you're

02:45:54.240 --> 02:46:01.360
Seeing people actually going out and physically removing those cameras so i'm gonna get to that okay

02:46:02.160 --> 02:46:08.800
We're gonna get to that okay it's okay so the next one i wanted to show you because we

02:46:10.000 --> 02:46:16.880
It's been a big fight in farm country as you know about the right to repair your own farm equipment yep but

02:46:16.880 --> 02:46:25.360
Guess what they're up to now okay let's play the next one get this wow ford so ford and gm literally just

02:46:25.360 --> 02:46:31.600
Showed up at the white house they went into the oval office to lobby the president of the united states

02:46:31.600 --> 02:46:39.120
To stop you from fixing your own vehicle i'm not kidding that's not an exaggeration that's exactly what they

02:46:39.120 --> 02:46:45.600
Just did now we've covered a lot of right to repair and ownership issues over the last several months

02:46:45.600 --> 02:46:52.640
Especially with vehicles and this is where it gets insane like ford is just stepping in it every single

02:46:52.640 --> 02:47:00.960
Time i turn on a camera on june 3rd gm ceo mary barra ford's andrew frick the alliance for automotive

02:47:00.960 --> 02:47:08.320
Innovation and the nada all of them walked into the oval office and the very next day president trump

02:47:08.320 --> 02:47:14.720
He goes on camera and says out loud on record he said we had the auto industry in yesterday

02:47:15.280 --> 02:47:21.440
They don't want people to fix their car and then he said that's strange i've never heard of that's

02:47:21.440 --> 02:47:28.400
Not a joke that's why they went to the white house ford and gm are so desperate for you to not repair

02:47:28.400 --> 02:47:35.040
Your own vehicles that they took this to the white house they want to block you from repairing your vehicles

02:47:35.040 --> 02:47:41.840
With legislation lobbyists in washington dc are now in control of the future of right to repair

02:47:43.280 --> 02:47:52.800
So we did a great interview with padfield and dr robert padfield on privacy you know a car is a

02:47:52.800 --> 02:48:00.240
Surveillance trap now yeah that's all yep right and a new car is not only a surveillance trap but if you

02:48:00.240 --> 02:48:06.720
Don't have the right to repair it yourself yeah you don't own it you don't own it and it's going

02:48:06.720 --> 02:48:14.560
To be much more expensive yeah so part of it is if you look globally the chinese auto industry is

02:48:15.120 --> 02:48:17.280
Killing the auto industry

02:48:19.920 --> 02:48:28.800
Well i look at it this way katherine i have an older car that is not one of these jeep geo

02:48:30.240 --> 02:48:39.840
Synchronous positioning cars it doesn't report my location and so on i would not i number one i

02:48:39.840 --> 02:48:46.560
Couldn't afford a new car because now they're as much as a house in fact most new cars would now cost

02:48:46.560 --> 02:48:55.120
Me more than my house mortgage it's obscene so no i won't buy a new car if i go out to buy another car

02:48:55.120 --> 02:49:00.980
It's going to be a used car and i'm going to have a certain date past which i will not buy that car

02:49:00.980 --> 02:49:07.220
Yeah i would never buy a car after 2012 at this no i won't either i won't either right i'm trying to

02:49:07.220 --> 02:49:13.160
Figure out how i can buy one that's in good shape that i can take on the highway that's 1985 or before

02:49:13.160 --> 02:49:18.760
Yeah here yeah here yeah we're going to start having to build our own

02:49:18.760 --> 02:49:24.640
All the local mechanics we'll just start building our own well look that's the other thing i'm noticing

02:49:24.640 --> 02:49:32.480
I'm noticing a lot of mechanic shops popping up around you know where i live i've had

02:49:32.480 --> 02:49:41.180
Two mechanics shops pop up within a mile of my house in wonderful in the last three years yeah

02:49:41.180 --> 02:49:47.480
Something is going on people are turning off the guy that lives across from me

02:49:47.480 --> 02:49:54.160
Just bought another new vehicle and he has not bought he's bought three new vehicles

02:49:54.160 --> 02:50:02.140
In the last five years and each one has been a vehicle that was made before 2012 that's just me

02:50:02.140 --> 02:50:08.060
Observing someone so it's interesting one of my favorite videos last year was a guy an auto mechanic

02:50:08.060 --> 02:50:13.400
That said look you know when people used to bring in a brand i didn't know i just pull out the manual

02:50:13.400 --> 02:50:20.000
Figure out how it worked right and he said but after 2012 they started to put in all these sensors

02:50:20.000 --> 02:50:27.000
And now there's no mechanical logic to how it works i he said for some brands i could spend 150 hours

02:50:27.000 --> 02:50:32.760
Trying to figure out how it works and he said so it's not economic so i only do brands i know or before

02:50:32.760 --> 02:50:41.620
2012 yep so okay so i wanted to before we leave pushback because there are two more videos i wanted

02:50:41.620 --> 02:50:48.720
To show you i want to end on flock but i do want to say something about ice because ice has turned out to

02:50:48.720 --> 02:50:56.340
Be a very different thing than we were told first of all more people were deported under

02:50:56.340 --> 02:51:06.980
Obama and biden than under trump so far right so the whole notion was we're going to find the

02:51:06.980 --> 02:51:13.420
Hardened criminals and put them out but that didn't happen they started going after mothers and schools and

02:51:13.420 --> 02:51:18.120
Kids and you know it was like going after the low-hanging fruit and terrorizing people

02:51:18.120 --> 02:51:27.060
- and they as of two months ago they had they were up to 2012 detention centers

02:51:27.060 --> 02:51:33.980
A quiet reorganization is taking over rural america and you probably never heard of it

02:51:33.980 --> 02:51:40.200
Larry bender has been the supervisor of tremont pennsylvania for 40 years a town of 300 people

02:51:40.200 --> 02:51:47.640
Larry voted for trump but his loyalty did not protect him larry found out from a facebook post that ice

02:51:47.640 --> 02:51:54.360
Had quietly bought the biggest building in his town converting it into a detention center for 7,500

02:51:54.360 --> 02:52:03.800
People a town of 300 about to wake up 25 times its size overnight and the warehouse sits 300 yards from the

02:52:03.800 --> 02:52:12.040
Only daycare in town imagine the local kids playing outside while families being separated inside scream

02:52:12.040 --> 02:52:20.040
Through the walls Tremont is not alone the Washington Post obtained a leaked plan 24 warehouses across

02:52:20.040 --> 02:52:28.040
America for 38 billion dollars all bought in secret a Maryland warehouse already running has four toilets

02:52:28.040 --> 02:52:37.560
And two water fountains for 1,500 detainees how is this legal they are using a navy contract designed for

02:52:37.560 --> 02:52:44.440
Emergency tents in war zones to skip the bidding process and the environmental reviews so who's

02:52:44.440 --> 02:52:51.800
Getting rich when following the money we find geo group a private prison company last year they posted

02:52:51.800 --> 02:53:01.240
254 million in profit a 700 percent increase geo and core civic gave trump's campaign over a million

02:53:01.240 --> 02:53:07.400
Dollars tom holman trump's border czar took consulting checks from geo before taking

02:53:07.400 --> 02:53:15.640
The job remember the Tremont warehouse the county assessed it at 59 million but the feds paid 119

02:53:16.360 --> 02:53:23.400
Twice the value and no questions asked 70 percent of the people locked inside these places have no

02:53:23.400 --> 02:53:28.600
Criminal conviction and the people running this playbook are betting that by the time you hear about

02:53:28.600 --> 02:53:31.000
Yours it will already be built

02:53:34.680 --> 02:53:40.600
Yes which raises the question of why are they contracting with private prisons to round these

02:53:40.600 --> 02:53:48.440
People up and put them in warehouses right that's diabolically evil but if you look at how

02:53:48.440 --> 02:53:54.280
Many detention centers we showed it on money and markets a map of where they are they're not they're

02:53:54.280 --> 02:53:59.080
Not where the immigrants are i mean if you look at where illegal immigrants are and where the

02:53:59.080 --> 02:54:04.520
Detention centers are something doesn't match yeah well they're getting ready to round

02:54:04.520 --> 02:54:14.440
People like you and me up as i'm serious as a clam i'm serious as a clam so this they've always

02:54:14.440 --> 02:54:20.280
Preferred free range and the whole point of the digital control grid is it's too expensive yeah they

02:54:20.280 --> 02:54:25.960
Don't they're never gonna i mean i'm not saying they won't try and you know because they

02:54:25.960 --> 02:54:33.640
Keep trying to move the definition of a domestic terrorist if you oppose a data center you're a domestic

02:54:34.360 --> 02:54:41.240
Well if you're a traditional roman catholic you're on a domestic terrorist if you attend a

02:54:41.240 --> 02:54:48.440
Pta meeting you could be a domestic terrorist i mean it's ridiculous okay so i just want to tell you

02:54:48.440 --> 02:54:56.920
That i have tremendous faith in the creativity and imagination of the american people and i think

02:54:57.560 --> 02:55:04.200
That what is now happening with pushback is going to click into high gear with creativity

02:55:04.200 --> 02:55:12.440
Creativity and imagination and you know the machine will not be able to deal with it and so you

02:55:12.440 --> 02:55:18.280
Know we try and end a lot of these stories with what you should do but i want to end this story with what

02:55:18.280 --> 02:55:24.760
You should never do okay so i want you to understand when it comes to flock cameras what you

02:55:24.760 --> 02:55:31.480
Should never ever do okay so let's run video 30

02:55:33.560 --> 02:55:37.320
Today's video i'm going to tell y'all what not to do don't ever do these things

02:55:37.320 --> 02:55:43.720
The first thing is going to be don't ever approach one of these poles with a sawzall

02:55:43.720 --> 02:55:47.400
Okay if you do that and you start cutting around them they're just going to fall down and we want

02:55:47.400 --> 02:55:51.160
To make sure that big brother has a chance to really put cameras in your area and always be

02:55:51.160 --> 02:55:55.720
Watching you this is going to really hinder them from watching you so please don't

02:55:55.720 --> 02:55:59.560
Vandalize these kind of things and cut them down with a sawzall because they'll fall down really

02:55:59.560 --> 02:56:05.320
Quick next don't label all the flock cameras in your area by using dflock.org you don't want to do that

02:56:05.320 --> 02:56:09.320
Because if you label them then people with bad intentions are going to cut them down number three

02:56:09.880 --> 02:56:16.280
Do not under any circumstances buy a $50 high powered blue or green laser from amazon and shine it

02:56:16.280 --> 02:56:20.920
Directly onto the flock cameras because that's going to damage them y'all that's going to damage the sensors

02:56:21.160 --> 02:56:25.400
And it's going to make them unable to spy on you and we definitely don't want that number four

02:56:27.400 --> 02:56:34.360
Do not under any circumstances use the camera map on dflock.org to find the cameras in your area and

02:56:34.360 --> 02:56:39.480
Spray them with a spray paint extender that you see some of these awful people using they come up

02:56:39.480 --> 02:56:43.320
From behind them and they spray the front of the camera they're not going to be able to see

02:56:43.320 --> 02:56:49.960
Nothing i mean come on guys grow up number five these flock cameras are attached using a simple

02:56:49.960 --> 02:56:54.920
Eight millimeter socket so please don't carry around eight millimeter sockets you're just going to be

02:56:54.920 --> 02:57:01.160
Tempted to use them okay number six do not buy a pair of the what do they call the vader facial

02:57:01.160 --> 02:57:06.280
Recognition blocking sunglasses because that's going to prevent flock from finding out who you are

02:57:06.280 --> 02:57:11.400
In case you accidentally just ran into one too hard and they consider it vandalism number seven if you're

02:57:11.400 --> 02:57:17.480
Caught you're gonna have like a class four misdemeanor which is serious business y'all this is private

02:57:17.480 --> 02:57:23.960
Property a class four misdemeanor means you're looking at community service if you get caught so i mean i

02:57:23.960 --> 02:57:29.000
Hope you feel the weight of what's going on here number eight do not go around telling all the homeless

02:57:29.000 --> 02:57:35.080
People that the flock cameras have about 10 pounds of copper inside them because look that's gonna give

02:57:35.080 --> 02:57:40.440
Them way too many ideas and they're gonna try to get rich quick number nine definitely do not

02:57:40.440 --> 02:57:46.280
Attend any of the city planning meetings and argue against these cameras because we all love Peter Thiel

02:57:46.280 --> 02:57:50.520
And we love big brother and we love mass surveillance we want to make sure that he's able to keep doing his

02:57:50.520 --> 02:57:56.520
Job all right at the end of the day y'all just remember that these things do not belong to the city

02:57:56.520 --> 02:58:01.960
They are private property of a very very perverted company that believes that they should be turning

02:58:01.960 --> 02:58:07.880
Our lives into a real life hunger games oh number 10 by the way i forgot to tell you about this don't

02:58:07.880 --> 02:58:13.080
Buy those lasers and donate them to a bunch of 14 to 18 year old kids this summer with nothing else to do

02:58:13.080 --> 02:58:16.760
Because they might actually you know accidentally damage one of these things when you do that

02:58:17.480 --> 02:58:24.840
So these are the things we do not to do yes don't don't do these we do not we don't want anything like

02:58:24.840 --> 02:58:33.240
That being done and we might add to that we don't want people training pigeons or other birds

02:58:33.240 --> 02:58:43.000
To be pulling wires out of 5g towers we don't want that no see that video is exactly why you

02:58:43.000 --> 02:58:51.720
And i live in the heartland yes this is why we don't choose to live in new york city or

02:58:51.720 --> 02:58:57.000
We don't we don't want to live next to eric schmidt and peter thiel no we don't right

02:58:58.520 --> 02:59:04.040
Or the kushners in miami no we don't want to live around any of those people

02:59:08.120 --> 02:59:16.840
Do not folks do not go out and buy green lasers or spray paint pole things and give them to

02:59:16.840 --> 02:59:26.360
Children but we don't want that no no no no so now one thing i'll say is they're serious about

02:59:26.360 --> 02:59:33.000
This apparently somebody i read a tweet that said somebody had been given an army he was an army

02:59:33.000 --> 02:59:39.480
Engineer he'd been given 18 years for destroying three fly cameras and i tweeted out and i said well

02:59:39.480 --> 02:59:45.480
It's not like he stole 21 trillion which is not so bad but destroying three fly cameras you know so nobody

02:59:45.480 --> 02:59:51.400
Went to jail over stealing 21 trillion nobody went to jail over 29 train of bailouts no one went to jail

02:59:51.400 --> 02:59:58.840
For 6 trillion of you know injections that's not a problem and trump can drift in his family 2.2

02:59:58.840 --> 03:00:05.800
Billion is 6 billion but anyway so another guy came up who had a go fund me campaign he's being

03:00:05.800 --> 03:00:12.440
Prosecuted for destroying a flat camera so we sent in a hundred dollars and anyway so if you see any

03:00:12.440 --> 03:00:22.360
Go send me you know accounts for these folks it's something to do yeah do that okay that's the

03:00:22.360 --> 03:00:28.120
End of part one we'll be back next week with part two any closing comments joseph no

03:00:31.240 --> 03:00:32.680
I like that video

03:00:35.160 --> 03:00:41.080
Oh i got good ones for you in part two okay well let's let's do them thanks for having me back

03:00:42.120 --> 03:00:48.920
Ladies and gentlemen thank you for joining on news trends and stories and you see now why we have

03:00:48.920 --> 03:00:55.080
Someone with a phd in patristics helping us with finance because the finance guys with the

03:00:55.080 --> 03:01:00.760
Possible exception of ed dowd and his partner carlos have trouble understanding what's really

03:01:00.760 --> 03:01:07.560
Going on here joseph okay ladies and gentlemen we have a wonderful week and joseph and i will see you

03:01:07.560 --> 03:01:17.720
Next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week

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I'll see you in the next week