WEBVTT 00:00.850 --> 00:06.730 All right, Doug we're back. It's been a while since we've done one of these in the normal format here here in Uruguay 00:06.730 --> 00:10.210 Not too far from where I am, but there's a lot has happened 00:10.210 --> 00:16.650 I mean so much has happened that some some of us now we're talking about it because past it's been washed away by other happenings 00:17.950 --> 00:19.310 Yes, what was? 00:20.750 --> 00:22.170 Kamala's phrase exactly 00:23.170 --> 00:30.410 I'm we've been we're constantly unburdened by what has been has the new cycle drives on and 00:30.410 --> 00:36.190 The new cycle only lasts about 24 hours for almost anything these days. So yeah, you're quite correct 00:36.910 --> 00:42.310 Yeah, it's it's interesting. I would try to keep up on top of these things and you realize when you're not it doesn't make any 00:42.310 --> 00:45.670 Difference anyway, so it kind of know what the point of anything is 00:45.670 --> 00:53.570 Well, and there's certainly nothing we can do about it. So it's just it's just idle conversation on our part 00:53.570 --> 00:56.330 perhaps I 00:56.330 --> 00:56.790 Think you're right 00:56.790 --> 01:00.330 But you know the the big thing that has happened geopolitically now just 01:00.330 --> 01:07.050 This is you know, they're obviously the stuff in Ukraine is still happening. There were new weapons used by Russia all that but 01:07.050 --> 01:09.890 It seems like Trump wants to solve that 01:10.490 --> 01:19.270 Israel was flaring up with Lebanon and then they got a ceasefire and then immediately things explode in Syria and 01:19.270 --> 01:24.530 You know just what's going on? What's your big picture take on what's happening? 01:25.170 --> 01:31.590 Well, perhaps nothing's really changed because that I think was a Tom Leroy song from the 1960s and 01:32.230 --> 01:37.190 If I recall the lyrics they're rioting in Africa. They're starving in Spain 01:39.310 --> 01:39.870 and 01:40.770 --> 01:42.730 the rest of it and 01:42.730 --> 01:47.570 I think another part of that song the same song or maybe it was a related song 01:48.210 --> 01:52.810 Franchate the Germans the Germans hate the Dutch and I don't like anybody very much 01:55.250 --> 02:03.690 So nothing's nothing's really changed at least at least within my lifetime, but it does seem everything's accelerating and becoming more 02:04.570 --> 02:05.170 compressed 02:06.130 --> 02:11.250 The news cycle is speeding up for a number of reasons actually but 02:12.130 --> 02:13.330 Okay, so 02:14.210 --> 02:16.870 What was the question before I went off on a tangent? 02:17.110 --> 02:22.050 What's basically the big picture on what's what's happening because I think that the thing that is 02:23.130 --> 02:27.370 That seems to be spreading is the kinetic conflict in my mind 02:27.370 --> 02:32.110 That's that's the one like there's less is a kids the chaotic system lots of changes are always occurring 02:32.110 --> 02:37.290 But the fact that it's going to arm conflict conflict with so many different 02:39.630 --> 02:45.230 Participants in it especially in places like Syria you can't even tell which side the Turks are on even in that whole thing 02:45.750 --> 02:46.410 That's right 02:46.410 --> 02:51.470 You don't know who's on first anymore and it's interesting that we even talk about Syria 02:52.050 --> 02:52.730 because 02:53.590 --> 02:57.650 Syria is always just been a region ever since 02:58.850 --> 03:03.290 Pre-Roman times where there have been many groups with them 03:04.430 --> 03:10.470 Different religious groups ethnic groups linguistic groups. It's not a real country 03:10.470 --> 03:17.230 It's the most hits basically the most ancient part of the world and it's not a real country and 03:18.530 --> 03:21.650 Right now as far as I can determine 03:22.950 --> 03:31.710 I've been to Syria twice actually for about a week each time frankly and I saw a fair part of the country and 03:35.050 --> 03:39.250 As far as I can kind of figure out from reports 03:39.250 --> 03:44.890 Is it's about three or four or five or six or maybe seven or eight? 03:45.530 --> 03:49.730 different regions that are under control by various 03:50.490 --> 03:55.310 Governments and or criminal gangs, so it's not a real country at all 03:55.310 --> 04:01.590 So you can't really talk about Syria as other than a region and actually the same is true of Libya 04:01.590 --> 04:05.810 Which is definitely at least two separate countries 04:06.770 --> 04:08.930 Only one of which I think is represented 04:09.650 --> 04:14.310 Has the seat in the United Nations, but it's two and actually it's three countries. I think 04:15.730 --> 04:20.650 But who knows I mean these places are falling apart and the 04:21.690 --> 04:23.950 Governments of the world and the mass media 04:25.130 --> 04:26.250 Pretend that 04:26.250 --> 04:28.950 There's still entities, but they're not 04:31.490 --> 04:32.610 Do you 04:32.610 --> 04:33.510 What 04:34.130 --> 04:39.070 You know, I felt like we've been in a in the Third World War for a while now 04:39.070 --> 04:44.050 But it just doesn't takes a while to come to the point of public consciousness to recognize what's happening 04:44.050 --> 04:44.270 and 04:45.770 --> 04:51.610 You know and what you see in Syria now seems so confusing to me it 04:52.550 --> 04:54.350 Reminds it makes me think of 04:55.310 --> 05:02.570 We'll also put Ukraine in this category before of Spain in advance of World War two. There's so many different belligerents in there 05:02.570 --> 05:04.670 You know jockeying for 05:05.350 --> 05:11.450 Territory testing new weapons systems. Yeah, I mean, what do you think about that? I 05:11.450 --> 05:12.510 think we're 05:12.510 --> 05:17.350 Where I think we're heading towards World War three definitely because 05:18.230 --> 05:19.890 it just seems like 05:20.950 --> 05:27.170 Then pressures build up and then people have to fight it out at some point periodically 05:28.110 --> 05:30.690 And it seems that we're heading towards that now 05:31.310 --> 05:35.410 even if we look at World War one it was 05:38.010 --> 05:42.990 The whole world or and really the whole world was really just Europe at that time 05:42.990 --> 05:45.990 Was extremely prosperous. They've been 05:47.010 --> 05:52.230 Everybody been growing their GNP and their production and their general prosperity 05:53.290 --> 05:57.470 Handover fist for decades because of the industrial revolution 05:57.470 --> 06:03.710 And everything was hunky-dory. Everything was going along tickety-boo as they say 06:04.480 --> 06:06.390 And they got into a 06:08.010 --> 06:14.490 Catastrophic war over just the assassination of an Austrian official 06:15.540 --> 06:16.010 so 06:16.840 --> 06:20.530 Things were going well then but I don't think things are going 06:21.020 --> 06:24.490 particularly well in the world right now because 06:25.340 --> 06:26.290 Back then 06:26.900 --> 06:29.590 We were we had stable currencies 06:30.880 --> 06:32.130 There wasn't 06:32.130 --> 06:34.470 Much debt in the world 06:35.330 --> 06:37.830 governments had only a minor 06:39.170 --> 06:45.770 Influence on the life of the average guy from day-to-day anywhere. There were minor things in 06:45.770 --> 06:49.490 five ten percent of the GNP was 06:50.210 --> 06:52.210 Taken by the government so and 06:52.890 --> 06:55.670 World War one was an utter and complete 06:56.450 --> 06:59.730 Catastrophe that changed world history now 07:00.290 --> 07:02.530 We've got a much more unstable 07:04.670 --> 07:05.190 Situation 07:06.430 --> 07:06.950 and 07:07.830 --> 07:09.930 Everybody's kind of plumping for a fight 07:10.530 --> 07:16.710 So, yeah, I think World War three is on the way. I don't know what what the exact nature of it'll be 07:16.710 --> 07:19.530 But yeah, we're we're we're headed for the big one 07:20.750 --> 07:21.950 To comments about 07:22.430 --> 07:30.310 World War one. I read a book called the african kaiser actually and it was very interesting 07:30.310 --> 07:34.350 I think you'd you'd enjoy us about this general paul von 07:35.210 --> 07:36.830 Leto vorbeck, I guess 07:37.690 --> 07:42.150 and it was interesting about it was this basically general who was 07:43.330 --> 07:48.190 Fighting in world war one on behalf of the germans in africa 07:48.830 --> 07:49.130 And 07:49.750 --> 07:52.710 You know, I always think of europe you think of the centerpiece as 07:53.270 --> 07:59.210 Only europe, but there's a reason why it was called a world war is that it spilled over all over the place 08:01.570 --> 08:09.650 Yeah, so that would have been in germany when tanga nuka was a german colony or it could have been when 08:10.890 --> 08:11.370 Namibia 08:11.930 --> 08:15.030 Was a german colony or when cameroon 08:15.030 --> 08:19.830 Was a german colony and I think I'm missing out of their place. So where would he have been? 08:21.510 --> 08:22.450 least africa 08:23.170 --> 08:24.250 Do you remember that? 08:24.890 --> 08:30.030 Do you ever see the humphrey bogart and cathard heppern movie the african queen? 08:30.830 --> 08:34.490 Yes, yeah, it's good. Yeah, great movie actually 08:35.290 --> 08:36.690 Yeah, I really like it 08:36.690 --> 08:42.310 Yeah, it was it was just shocking to me as I just didn't understand the scope of the conflict 08:43.010 --> 08:46.310 Well outside off the continent. I just didn't even understand it. So 08:46.930 --> 08:48.230 But we're like now 08:48.730 --> 08:53.010 We see this too. I mean you could argue. There's what wagner troops 08:53.810 --> 08:55.470 That are working in africa 08:55.970 --> 09:02.030 You know, so there's there there is there is spillover. I mean apparently some ukrainian special forces have 09:02.030 --> 09:06.510 You know been deployed to different areas to in africa as well 09:06.510 --> 09:08.370 You know, it's it's it's bizarre 09:08.370 --> 09:13.770 Actually that there is spillover already in these kind of minor no one even notices them conflicts 09:14.490 --> 09:15.890 All over the world already 09:16.590 --> 09:16.930 so 09:17.630 --> 09:19.310 Yeah, that's right 09:20.030 --> 09:22.170 and maybe we're witnessing the 09:22.930 --> 09:27.690 The rise of genuine private armies and they've always been there because 09:28.790 --> 09:35.330 When in the 19th century, uh, what was his name his first name it was walker 09:35.330 --> 09:37.150 uh, who was called a 09:38.040 --> 09:39.330 was called a um 09:40.220 --> 09:41.290 He was a freebooter 09:42.240 --> 09:44.210 but there's another name a um 09:45.910 --> 09:51.130 Basically tried to conquer nicaragua and honduras and costa rica 09:51.130 --> 09:58.770 A filibuster was the term they used for for for these guys and he almost succeeded 09:59.890 --> 10:00.370 so 10:03.050 --> 10:07.950 Yeah, I'm just reading about this guy actually now look at the looks them up. Yeah filibustering expeditions 10:07.950 --> 10:11.470 He went to mexico and nicaragua at different points 10:12.090 --> 10:12.330 yeah 10:12.330 --> 10:18.030 I mean those were the days you rounded up a a few friends that 10:18.570 --> 10:19.010 you know 10:19.810 --> 10:24.850 You know this country looks like it's low hanging fruit. Let's take it over and have some fun 10:25.590 --> 10:30.670 Well, I guess you could still do that today, but it's not as easy as it used to be because um, 10:31.430 --> 10:33.330 you know, I remember, uh 10:34.530 --> 10:35.450 taking a 10:36.350 --> 10:39.350 Taking a course that was taught by gene kill 10:40.130 --> 10:43.230 patrick who you may recall was the 10:44.110 --> 10:46.490 American ambassador to the united nations 10:47.090 --> 10:50.990 And she was one of my professors at at georgetown 10:51.770 --> 10:52.590 and uh 10:52.590 --> 10:59.850 I do remember very distinctly sitting in her class with a friend of mine vince auger later became a judge in 11:00.470 --> 11:00.810 Cincinnati 11:01.530 --> 11:02.210 and 11:02.210 --> 11:04.650 We had different ideas 11:05.390 --> 11:11.030 We were less law abiding in those days than we are now and kill patrick mentioned. Yes 11:11.490 --> 11:12.670 in africa today 11:12.670 --> 11:21.210 Uh, a few white men with military experience can easily take over a country and this is what kill patrick who is the 11:21.210 --> 11:27.090 ambassador to the united nations was telling her students in class because it was factually accurate 11:27.630 --> 11:30.210 Okay, I don't think you can do that anymore because 11:30.990 --> 11:38.150 In those days there weren't any native african armies to speak of it was possible, but now it's not possible 11:38.150 --> 11:39.870 because these guys 11:40.550 --> 11:42.670 courtesy of the u.s. And others have 11:42.670 --> 11:46.930 They've gotten, you know serious military training and serious weapons 11:46.930 --> 11:50.390 So you can't just come in and knock over a country anymore 11:51.070 --> 11:53.550 Those days will kind of go on 11:54.190 --> 12:00.230 Uh, oh well, maybe they'll come back maybe in the after whatever happens in the next couple decades 12:00.230 --> 12:03.230 Maybe there'll be a new opportunity for a new generation. That's that's right 12:03.230 --> 12:07.870 It could happen as these african countries break up 12:07.870 --> 12:13.750 Which they will do along tribal and ethnic lines and they'll need outside help to 12:14.390 --> 12:21.350 Organize things a bit for them. So, yeah, sure the market always presents new opportunities and uh 12:22.390 --> 12:27.230 And like and the religions and the russians are in a good position to take advantage of it now 12:27.230 --> 12:28.790 They're having, you know, they're 12:29.270 --> 12:30.270 Yeah, it's it's great 12:30.270 --> 12:34.190 And maybe the chinese now there's going to be lots of lots of 12:34.810 --> 12:38.710 Ukrainian guys with serious military experience that are going to decide 12:38.710 --> 12:42.950 You know, i'm not really suited too much else others and go out and fight 12:42.950 --> 12:47.290 Where's the best place to fight? Well, yeah, probably africa. Yeah 12:48.010 --> 12:48.490 Yeah 12:49.350 --> 12:51.470 Yeah, well, you know and in 12:51.470 --> 12:56.150 the way the way that world war one became world war one is that the for some reason every 12:57.430 --> 13:03.990 Major state was forced or felt compelled to pick sides in the whole thing and that's you definitely see that happening now 13:04.630 --> 13:08.750 And those sides are getting they're firming up. I think that, you know, like what's what 13:09.350 --> 13:15.330 This is a moment of truth for turkey. For instance, like what side are they really on and you're seeing, you know, they seem to be 13:16.170 --> 13:19.330 Uh, I actually I didn't want to say it because it's so confusing right now 13:19.330 --> 13:24.690 But it seems to be that they're on that they basically chosen to be on the opposite side of the russians and what's happening now at least 13:25.250 --> 13:26.030 and um 13:26.590 --> 13:29.710 Everyone's picking sides and you see this this transcends maybe the 13:29.710 --> 13:33.950 Netic stuff it goes into the economic matters and they and then from that 13:34.490 --> 13:38.250 The other day use we know about the rise of bricks as an economic union 13:38.250 --> 13:41.350 It's been going on for a while and it was kind of a nothing burger until 13:41.850 --> 13:43.490 the u.s. Took this 13:44.410 --> 13:48.830 This cat has made this catastrophic error with seizing the reserve assets of russia 13:49.370 --> 13:52.290 Um, and then now it started to become more of an economic reality 13:52.290 --> 13:55.630 It's still a long way to go before, you know, it was a real serious threat, but 13:56.390 --> 13:59.930 The first time trump ever mentioned bricks as far as I know 14:00.490 --> 14:05.450 Uh was in his threat to them that he made the other day that if they did not 14:05.950 --> 14:10.930 essentially kiss the ring of the dollar that they would be on the on the on the 14:11.610 --> 14:13.870 business side of a hundred percent tariff 14:14.770 --> 14:16.370 And what do you think of that whole? 14:17.110 --> 14:19.130 I I know it's a kick we had negotiating play with them 14:19.130 --> 14:25.670 He always starts off really hard, you know, like uh with rocket man in north korea, you know, the end of being friends, right? 14:26.670 --> 14:28.950 So it could be a negotiation play, but 14:30.310 --> 14:32.170 I don't know. What do you just think of the comment in general? 14:34.410 --> 14:36.830 dangerous and foolish and 14:37.810 --> 14:42.950 He's like setting himself up to not be taken seriously because it's kind of a ridiculous comment 14:43.410 --> 14:45.130 I mean you can't 14:45.130 --> 14:46.410 well can't 14:46.410 --> 14:46.810 look 14:47.730 --> 14:53.530 It bears saying again the major export by far of the u.s 14:54.270 --> 14:55.010 for the last 14:55.730 --> 15:00.550 Over 40 years has not been soybeans or bowings. It's been the dollar 15:01.450 --> 15:04.930 So and the and the export of the dollar is 15:05.450 --> 15:09.730 Largely responsible for the high standard of living we have in the u.s 15:09.730 --> 15:16.790 We ship paper money to them and they ship real wealth to us. It's been a great trade so far 15:16.810 --> 15:20.750 Except that's a huge liability that's building up. So yeah, I can see why 15:20.750 --> 15:25.930 Why trump somebody explained to him probably that this is the way it works 15:26.550 --> 15:30.890 So, yeah, he doesn't want to see the dollar not be accepted because it's going to result in a 15:31.490 --> 15:34.670 Not only a collapse in our standard of living 15:35.330 --> 15:40.910 But the re-importation of all those dollars in exchange for real wealth, which will go the other way 15:40.910 --> 15:42.250 Yeah, I understand that 15:42.950 --> 15:43.870 so, uh 15:44.550 --> 15:48.890 But but listen, it's it's like you jump off the top of a building 15:49.730 --> 15:51.830 How are you going to stop yourself from hitting the ground? 15:52.010 --> 15:54.770 This has been going on for 40 years and just 15:54.770 --> 15:58.590 Retaining these people which the u.s. Isn't in a position to do anymore 15:59.070 --> 16:02.490 Isn't going to work. It's just going to create more antagonism 16:03.050 --> 16:03.730 you know 16:05.410 --> 16:09.850 Yeah, and it's one of my concerns isn't this bifurcation from an economic perspective 16:10.430 --> 16:10.830 we should 16:11.910 --> 16:15.810 I guess I'd like to talk to you more about it later to flush out my own thinking around it 16:15.810 --> 16:17.630 but the idea is that the idea that 16:18.590 --> 16:21.990 There does seem to be a real bifurcation of 16:22.550 --> 16:30.370 The world and on economic lines where there's at least a preference for BRICS countries to trade with one another over 16:31.630 --> 16:36.990 Western countries and that you start to see these things like china, you know 16:36.990 --> 16:37.130 Uh 16:39.030 --> 16:41.670 Has a new ban on certain minerals 16:42.150 --> 16:46.010 To the u.s. Now and they're the great source of those minerals for us and 16:46.510 --> 16:51.070 And maybe that's maybe it's just a warning shot. Maybe it's maybe you know, maybe it's something 16:51.070 --> 16:55.310 It'll be a real big problem for us. I don't know but you know, and you see china working 16:56.410 --> 16:59.170 To to make real inroads in certain countries 16:59.170 --> 17:02.850 You know, they have this new port that's coming online in peru for instance 17:03.370 --> 17:09.030 You know, they they've made huge infrastructure investments in africa and a lot of latin america 17:09.030 --> 17:14.150 They're there are countries that have aligned more with them with the and the resources, you know 17:14.150 --> 17:19.630 Or they get preferential sale to the chinese they they'd prefer to sell into that market than to the u.s. market 17:20.210 --> 17:23.470 For a whole bunch of reasons and you you know our 17:24.270 --> 17:25.910 My concern is really that the 17:26.850 --> 17:32.470 We've taken for granted that the the we we know what the price of soybeans are because we can see it 17:32.470 --> 17:36.490 You know traded on the chicago border trade we could see it and we could see how much 17:37.030 --> 17:38.190 iron ore is going for 17:38.710 --> 17:44.130 At least, you know in the futures market, and I know that's not exactly representative of reality 17:44.710 --> 17:48.630 Completely in any one time because there's private contracts that the sales really hurt, but 17:49.190 --> 17:52.090 I'd see this bifurcation of these markets themselves 17:52.690 --> 17:55.330 and the price discovery mechanism gets really 17:55.970 --> 18:00.650 confused in that because if china is the biggest consumer of all of these minerals 18:01.240 --> 18:07.690 And more and more their purchases are opaque to western markets not going through western exchanges 18:07.690 --> 18:09.730 What effect does that have on the? 18:10.650 --> 18:15.370 On us on the western markets on the mining companies we invest in and you know 18:15.370 --> 18:19.210 I don't know what does it was what i'm saying makes sense 18:19.210 --> 18:23.070 I worry about the the buy as these markets bifurcate do we even 18:23.600 --> 18:26.230 Is could we find out that there's not a market for things? 18:26.910 --> 18:28.670 that there's the value and because 18:30.650 --> 18:32.170 Just a general comment 18:33.270 --> 18:36.830 That I don't think anybody really considers very much 18:37.370 --> 18:43.410 It's that people talk about china is doing this the us is doing that germany is doing the third thing 18:43.850 --> 18:50.550 But wait a minute these governments don't produce anything. It's the companies 18:51.510 --> 18:57.810 within these countries that actually mine things and build things and sell things 18:58.710 --> 19:00.570 So it's uh 19:01.310 --> 19:02.690 It's dysfunctional 19:03.290 --> 19:03.610 that 19:04.490 --> 19:12.050 You know individual companies should be making these decisions as to who they buy from and sell to and for how much 19:12.550 --> 19:16.690 And when they talk we talk about china or the us or any other 19:17.470 --> 19:24.550 It's actually the government. It's like they actually control all these companies and tell them what they can do and can't do 19:25.510 --> 19:31.930 Which is really dysfunctional because governments naturally make decisions based on political 19:33.950 --> 19:39.910 Realities political wants as opposed to economic wants which have to do with 19:40.570 --> 19:43.290 Your standard of living and how well 19:43.770 --> 19:50.090 So, you know, that's that's wrong to start with I hate talking about what a country is doing 19:50.570 --> 19:51.730 as opposed to what 19:52.250 --> 19:54.830 many individual companies within that country 19:55.310 --> 19:58.830 might want to or might not want to do but um 19:59.610 --> 20:04.690 Yeah, uh, the us has tried to cut china off from 20:05.790 --> 20:07.710 technology and investments 20:08.650 --> 20:12.810 And it's kind of tit for tat. I mean, this is like game theory 20:13.470 --> 20:15.370 If somebody does something 20:16.550 --> 20:20.770 Well, you have to do something back. That's like standard game theory. Otherwise 20:22.150 --> 20:26.790 If he gets away with that, well, let's do twice as much the next time. So you really have to 20:27.910 --> 20:32.430 For every measure there has to be a countermeasure. Otherwise, you're going to be walked over 20:33.250 --> 20:34.090 and uh 20:34.610 --> 20:37.850 You know, if the chinese do this then trump 20:38.410 --> 20:41.110 Is kind of belligerent as he tends to be 20:41.110 --> 20:45.530 We'll all say oh, oh, you're cutting off our supply of gallium 20:45.530 --> 20:51.470 Well, we'll do something else to you and how the chinese have to do something else and this is how it escalates 20:52.370 --> 20:54.070 So it's it's bad news 20:54.730 --> 20:58.610 What happens is something like a big resource like copper if 20:59.490 --> 21:02.110 The major consumer of it is china 21:02.910 --> 21:03.450 um 21:04.570 --> 21:08.970 You know, we have copper investments. So like yeah, I just wonder what happens to those 21:09.810 --> 21:13.930 If you know if if things escalate and this bifurcation continues 21:14.650 --> 21:19.330 It's possible you could be sitting on a great you could own a great company in a great 21:19.850 --> 21:24.230 Otherwise jurisdiction that allows them to produce it and all of that but somehow 21:24.990 --> 21:30.150 It ended up the whole investment be spoiled because of this idea that you know, it's a 21:30.650 --> 21:37.950 It's you know, it's it becomes a national strategic priority of some kind to not do business with those bad guys 21:39.410 --> 21:40.810 Yeah, uh 21:41.530 --> 21:44.850 china needs all this copper to make all kinds of goods 21:45.690 --> 21:52.610 And then if they can't export the goods certainly not to the us at 100 percent duties or whatever ridiculous number 21:52.610 --> 21:58.510 Trump has come up with and maybe he'll talk other countries into punishing china the same way 21:59.270 --> 22:02.730 And so you you're not going to be using that much copper anymore 22:03.450 --> 22:08.910 I mean, this is it's really hard to uh project. It's like a kaleidoscope 22:08.910 --> 22:13.090 You change the kaleidoscope, you know the kids toy just a little bit 22:13.090 --> 22:16.670 And everything changes just with a tiny little turn 22:18.190 --> 22:18.730 Yeah 22:19.370 --> 22:23.750 Yes, it's definitely you can't project anything in a linear basis anymore 22:25.270 --> 22:26.750 Wild okay, um 22:27.570 --> 22:31.710 Well, we uh, I wanted to hear we have a few questions from some of our file members 22:31.710 --> 22:34.270 I wanted to get to but first I want to just get your thoughts on this 22:35.110 --> 22:40.350 public assassination of this CEO of this health insurance company united 22:40.350 --> 22:41.790 The company 22:42.310 --> 22:45.330 Yeah, well, yeah from from what you know 22:46.130 --> 22:48.090 Listen, I don't have health insurance 22:48.710 --> 22:53.090 I don't need health insurance down here and if you can avoid having insurance 22:53.090 --> 22:57.910 You want to avoid it for all kinds of reasons. That's a whole separate discussion 22:58.810 --> 23:05.610 But uh, so I recently discovered that united health is a gigantic health provider with what 23:06.390 --> 23:07.950 30 million 40 million 23:08.790 --> 23:11.870 Policy holders or whatever. Yeah, something like that. Yeah 23:12.450 --> 23:14.150 something like that and 23:14.150 --> 23:15.810 another number that's 23:16.430 --> 23:21.970 In the news is that their their rate of claim denial is 23:21.970 --> 23:26.870 Twice the industry average and larger than that of any other company 23:27.450 --> 23:28.050 and another 23:28.050 --> 23:32.110 you know factet that's come out is that 23:32.770 --> 23:33.410 the 23:34.430 --> 23:35.710 the management 23:36.530 --> 23:42.370 And I generally hate management and suits just unless they're fine founding entrepreneurs 23:43.910 --> 23:45.890 These guys are making a lot of money 23:46.610 --> 23:49.050 and so, yeah, I think uh 23:49.050 --> 23:52.330 Some little people might be pretty pissed off if they get their claims 23:53.130 --> 23:57.330 Yeah, so my my general feeling is I'm a nonviolent guy 23:57.930 --> 23:59.310 Because yeah, he had it coming 24:00.850 --> 24:04.690 Yeah, I mean, you know at least there's a apparently he made 24:04.690 --> 24:09.790 I don't something like 10 million dollars in compensation for 2023 24:10.470 --> 24:14.390 He sold 20 million dollars worth of stock earlier this year in 2024 24:15.050 --> 24:19.570 So he's a rich guy walking around the streets of new york alone and um 24:20.570 --> 24:23.750 Yeah, this guy what did you just did you watch the video of the hit? 24:23.830 --> 24:29.750 Did you did you think that any thoughts about that specifically about what he did and how it was done? 24:30.070 --> 24:32.550 As you wrote a book you wrote it was a picture. It was a novel 24:32.550 --> 24:36.690 But a part of your trilogy the last one was called assassin 24:37.170 --> 24:37.650 Yes 24:38.290 --> 24:45.770 Yes, and assassin which is a as a novel I can recommend it as something that's fun to read with lots and lots of 24:46.850 --> 24:48.650 information in it that 24:49.650 --> 24:55.330 In today's world certainly is best presented in the form of fiction as opposed to nonfiction 24:55.830 --> 24:59.270 If you don't want to get into a lot of trouble and um 25:00.010 --> 25:02.230 Yeah, I think a case can be made 25:02.830 --> 25:03.850 for uh 25:04.590 --> 25:05.610 for uh 25:06.130 --> 25:07.490 selectively punishing 25:08.470 --> 25:09.950 high up officials 25:10.910 --> 25:16.470 Certainly government officials but really corporate officials too since big corporations are 25:16.470 --> 25:20.070 hand in glove with the government and a fascist system 25:20.970 --> 25:24.130 and assassin talks about the 25:25.150 --> 25:29.570 moral case and the technical means for um 25:31.150 --> 25:32.870 Taking out uh 25:33.590 --> 25:34.610 cancerous elements 25:35.370 --> 25:38.430 Well, hey, that's vigilanteism. You shouldn't do that 25:39.110 --> 25:40.130 but uh 25:40.130 --> 25:42.350 when the court system because and 25:42.890 --> 25:46.330 The justice system becomes thoroughly dysfunctional 25:47.150 --> 25:48.990 Uh, the market has to handle it 25:49.730 --> 25:51.570 So, uh, yeah, read the book 25:51.570 --> 25:52.730 It's on amazon 25:52.730 --> 25:57.730 What is the uh, what is the the root of the word? 25:59.030 --> 26:03.670 Vigilanteism though vigilante. What's what's the I don't I don't know 26:06.110 --> 26:08.710 Could it be from the word vigil and 26:09.890 --> 26:10.390 anti 26:11.130 --> 26:11.630 before 26:14.170 --> 26:18.730 Let me see if I can find because I just curious what what, you know, vigilanteism has a 26:19.670 --> 26:23.390 Bad meaning but the etymology of it. I just wonder what it actually means 26:24.370 --> 26:24.870 um 26:25.430 --> 26:28.670 It's derived from the latin word, uh, vigilantes 26:29.250 --> 26:30.830 Which means watchful 26:31.390 --> 26:33.350 Mm-hmm, and uh 26:33.350 --> 26:33.530 Ah 26:35.250 --> 26:39.030 Yeah, so it's yeah, it's it's watchful guardian 26:40.530 --> 26:40.990 Right 26:41.990 --> 26:43.410 Well, vigilanteism 26:43.410 --> 26:47.410 No, I don't think so and really it's 26:48.450 --> 26:51.870 uh only a bad thing when you have a 26:52.350 --> 26:54.770 a functional and just 26:55.690 --> 26:57.110 court system 26:57.690 --> 26:58.150 but 26:59.110 --> 26:59.670 uh 27:00.450 --> 27:02.330 Let's say let's say you lived in 27:02.960 --> 27:04.230 What would be a good example? 27:05.130 --> 27:06.270 if you lived in a 27:06.970 --> 27:09.330 chaotic country where there was no 27:10.270 --> 27:10.930 reliable 27:11.610 --> 27:12.590 system of justice 27:13.530 --> 27:16.590 Well, you have to straighten things out on a 27:17.200 --> 27:18.530 local individual level 27:19.140 --> 27:21.850 and there are problems with it, but um 27:22.500 --> 27:28.770 Well, listen this court case this this case in new york with the marine who uh 27:28.770 --> 27:31.990 Was defending the Daniel pair Perry 27:32.770 --> 27:38.390 Yes, defending the other members of the other riders in the subway car from a lunatic 27:39.130 --> 27:43.610 Well, I think he did the right thing and what he did is completely justifiable 27:43.610 --> 27:50.810 And he should get off with no penalties at all. That's what I think because you can't just let and an award from the city 27:51.490 --> 27:51.870 a good 27:51.870 --> 27:57.390 He should get an award from the city because you can't let 27:57.950 --> 28:03.950 A crazy dangerous lunatic wander around like that. So yeah, he's a he's a vigilante 28:04.510 --> 28:08.510 And I think there's a place for vigilanteism unless you're gonna put a 28:08.510 --> 28:15.050 An official uniform cop in every subway car and on every street corner and turn the place into a police state. Yeah 28:15.930 --> 28:19.510 Yeah, I mean you have to have a have to have room for that because the idea of 28:20.030 --> 28:22.570 The police is really that they're 28:23.270 --> 28:27.050 I mean the role that police really act as though they have and my you know my 28:27.650 --> 28:30.350 Dad is a retired cop. It's it's a 28:31.030 --> 28:36.830 You know, they have a presence to have make people feel that there's someone there and then beyond that 28:36.830 --> 28:39.470 It's to do the paperwork and you know 28:40.070 --> 28:44.610 And to process after the crime. It's not to stop crime 28:45.230 --> 28:47.650 No, they don't it's just not how it works 28:49.030 --> 28:49.630 Yeah 28:50.250 --> 28:51.390 Yeah, that's right 28:52.030 --> 28:57.190 You have to have citizens that are engaged with with the public order or else you have public disorder 28:57.190 --> 28:58.830 I don't know how to avoid it. Otherwise 28:59.990 --> 29:02.770 Yeah, and the way things are set up today 29:03.650 --> 29:06.090 citizens that try to do the right thing 29:06.910 --> 29:09.290 like daniel perry did are 29:10.750 --> 29:11.870 punished and 29:12.410 --> 29:12.690 intimidated 29:13.430 --> 29:13.990 for 29:14.870 --> 29:17.290 Trying to do the right thing 29:17.870 --> 29:18.790 so it's uh 29:19.230 --> 29:24.290 Our system is becoming rather dysfunctional and this is uh something that 29:24.790 --> 29:31.710 Was that I was talking about a lot more and uh was actually in the news and this is the um 29:34.150 --> 29:39.850 Visual anti-ism within a courtroom and this is the um 29:40.410 --> 29:45.230 Jesus why can't I remember what we call it? It's where a um 29:46.690 --> 29:48.030 Jury nullification 29:48.030 --> 29:55.870 In other words, it used to be in the united states that uh a jury 29:56.430 --> 29:57.770 was the final 29:58.350 --> 30:01.030 Arbiter of what was right or wrong 30:01.630 --> 30:09.530 And it didn't matter what the law said if somebody was being tried for well like in daniel perry's case or many many other things 30:09.530 --> 30:12.050 For breaking the law 30:12.610 --> 30:17.370 Uh, if the jury thought no it was justified and he should have broken the law 30:17.970 --> 30:20.490 Well, the jury would nullify the law 30:21.090 --> 30:22.970 And I think that's the way it ought to be 30:23.690 --> 30:24.550 but today 30:25.090 --> 30:32.830 Uh juries are universally instructed that they're supposed to follow the orders of the judge and the court and they can't 30:33.330 --> 30:33.770 uh 30:33.770 --> 30:37.510 acquit a person just because they don't think the law is just 30:38.130 --> 30:38.470 or 30:39.230 --> 30:42.030 That just because he violated the law 30:42.750 --> 30:44.750 It was a good thing in this case 30:45.250 --> 30:49.630 So I'm all for jury nullification. Which is a form of vigil anti-ism actually 30:50.770 --> 30:56.170 But uh, when did that change? When did that change? Is it and is there uh, was there a 30:56.570 --> 31:00.070 Court case that changed that the role now when when did 31:00.990 --> 31:02.750 jury nullification become 31:03.950 --> 31:04.510 um 31:05.210 --> 31:06.870 Well actually kind of illegal 31:07.450 --> 31:09.270 Uh, when did that? 31:10.250 --> 31:11.610 When did that trend? 31:12.490 --> 31:16.750 Reverse that better change. It's a good question historically 31:17.770 --> 31:22.030 Because I was involved uh with the jury nullification movement 31:22.610 --> 31:26.170 Which had uh, this is about 15 years ago 31:27.110 --> 31:27.610 uh 31:28.230 --> 31:29.790 But I would 31:30.230 --> 31:31.470 Even the organization 31:32.350 --> 31:33.910 That I used to belong to 31:35.050 --> 31:41.270 I was the director of it actually. I should know I should be able to remember but it never got traction. Nobody cared 31:42.830 --> 31:43.450 Hmm 31:44.730 --> 31:45.830 It says 31:47.050 --> 31:47.670 Uh 31:48.390 --> 31:53.850 So technically they say it's still legal. They say it's it remains legal, but 31:54.630 --> 32:02.170 Bridges are not required to inform juries about it attorneys are often prohibited from explicitly arguing for nullification 32:02.890 --> 32:07.710 Yeah, and jurors can be removed if they express intent to nullify during selection 32:08.490 --> 32:10.350 Yeah, yeah, exactly 32:11.450 --> 32:14.270 I mean, I've never been on a jury 32:15.130 --> 32:17.910 And I had very mixed feelings about 32:19.010 --> 32:23.510 Being on a jury because I'm sure if it was anything substantial 32:25.070 --> 32:25.750 Uh 32:26.690 --> 32:33.350 You know, I wouldn't want to lie beforehand to the judge about because they ask you these questions if you believe in it 32:33.350 --> 32:34.430 So what am I going to do? 32:35.150 --> 32:37.470 Tell a lie to the judge you can get in trouble for that 32:37.470 --> 32:43.530 So it would be impossible that I never would have been on a jury even if I'd been selected, which I never was 32:44.450 --> 32:45.170 by happenstance 32:45.870 --> 32:47.790 But uh, yeah, I think it's a great thing 32:48.950 --> 32:53.370 Yeah, it'd be nice to see that make a comeback. Maybe if that could be 32:54.510 --> 32:58.590 Somehow popularized in the zeitgeist that people have the ability to do that 32:58.590 --> 33:02.490 You know, I mean, I know always tries to get out of jury duty 33:02.490 --> 33:06.430 But if you, you know come into the jury duty with you think you can actually 33:07.190 --> 33:08.050 Do some good 33:10.630 --> 33:19.110 Of course because jury nullification a jury being forced to serve on a jury. It's actually involuntary server to it 33:20.050 --> 33:21.070 and uh 33:21.790 --> 33:29.290 So my solution to that problem would be that everything should be voluntary and 33:30.670 --> 33:32.830 You should have professional jurors 33:33.410 --> 33:34.170 who are 33:34.950 --> 33:36.870 Who selected as jurors 33:36.870 --> 33:38.470 because they are 33:39.070 --> 33:39.530 knowledgeable 33:39.530 --> 33:42.230 They're wise. They're incorruptible 33:42.730 --> 33:45.150 Those are the people that you want for jurors 33:45.150 --> 33:48.610 Not not just, you know, any bum off the street 33:49.070 --> 33:49.490 who 33:50.150 --> 33:53.230 Yeah, I'm happy to serve and get $35 a day and 33:53.810 --> 33:55.590 And and and three hots 33:56.130 --> 34:00.530 While I'm on the jury. That's not the kind of person you want on a jury. You want somebody that's 34:01.650 --> 34:02.750 That's, you know 34:03.610 --> 34:06.130 properly qualified by what I just said 34:06.590 --> 34:07.030 Yeah 34:09.550 --> 34:14.950 There's so much energy put into uh, like jury consultants too to try and 34:14.950 --> 34:16.330 Oh, yeah. Oh, yeah, yeah 34:16.970 --> 34:20.290 Selecting the right. Yeah, the whole thing is a charade 34:21.970 --> 34:26.530 Yeah, it's a charade. I agree. Okay. So let's get to some of these questions. Um 34:27.470 --> 34:34.750 Someone asks about what's going on with an cap radio. So they haven't been broadcast since july and haven't heard anything about it on x 34:36.110 --> 34:36.590 Well 34:37.430 --> 34:38.230 That's really 34:39.310 --> 34:40.490 Dave Henderson's baby 34:42.110 --> 34:44.430 Dave is a very old friend of mine 34:44.950 --> 34:46.010 lives in new zealand 34:46.570 --> 34:49.790 And in new zealand he ran he's he's got a very interesting 34:51.130 --> 34:55.550 Backstory and there was a movie done about about his life called be very afraid 34:56.450 --> 35:02.610 And uh, he's absolutely fearless and incorruptible among other things. He ran 35:03.430 --> 35:05.830 four radio stations in 35:06.370 --> 35:08.710 New zealand in the four major cities 35:09.630 --> 35:12.330 That were actually an cap radio stations 35:12.330 --> 35:15.810 Anyway, don't want to get into that. So we decided to do this 35:16.290 --> 35:17.330 in the radio thing 35:17.890 --> 35:21.990 on x promoting free market values and that and 35:23.350 --> 35:23.870 So 35:24.550 --> 35:31.550 Dave is trying to figure out a way to make it viable and viable means economic and economic means 35:32.810 --> 35:38.850 You know, not a money loser anyway, so, uh, I think it'll come back 35:39.530 --> 35:40.050 okay 35:40.050 --> 35:43.170 All right next question is 35:43.370 --> 35:52.530 Do you believe prohibition impacted organized crime? And if so, what impact might cbdcs have on organized crime? 35:53.250 --> 36:00.290 prohibition impacted organized crime very very favorably. I mean prohibition actually 36:02.210 --> 36:05.810 Supercharged if not actually created the mafia 36:06.610 --> 36:14.930 Because before the mafia, you know, he had some, you know, low-life Italian migrants and you know, they engage in 36:16.130 --> 36:19.090 Minor unorganized crime shaking people down on that 36:19.090 --> 36:24.270 But when you when you uh, illegalize a whole class of 36:24.980 --> 36:25.290 desirable 36:27.810 --> 36:29.750 Drugs if you would alcohol 36:30.450 --> 36:33.030 Uh products products. Yes 36:33.950 --> 36:36.610 You need an organization to provide 36:37.530 --> 36:44.150 These products on a mass scale and it happened to be a criminal organization because alcohol was made illegal 36:44.670 --> 36:50.610 So as usual laws are wonderful for organized crime and the same is true of 36:51.710 --> 36:58.170 Illegalizing drugs drugs are bad gotta illegalize them. Well, okay, they're bad, but it's not your body 36:58.170 --> 37:04.450 It's not your choice and by illegalizing it. You've created these giant court cartels and so forth 37:04.450 --> 37:08.750 So it's counterproductive and stupid like almost everything the government does 37:09.530 --> 37:10.250 so, uh 37:10.950 --> 37:13.970 that answers the first part of the question and uh 37:14.750 --> 37:17.610 I don't think that there's any way for uh 37:18.790 --> 37:22.910 Cartels or or the mafia or whatever to get involved in 37:25.250 --> 37:27.570 Cryptocurrencies or or whatever 37:28.550 --> 37:29.070 but 37:32.450 --> 37:37.030 Because the biggest thing with this the idea is that if there's a black market in the money 37:37.530 --> 37:41.650 Or if money is made uh outside of the central bank digital currency illegal 37:41.650 --> 37:44.970 Then maybe there might be a black market of the criminal 37:45.690 --> 37:48.990 organized crime that forms around it. But the problem is is that 37:50.030 --> 37:54.930 With the prohibition the uh criminals were delivering a known product 37:54.930 --> 38:03.590 They had to produce and distribute and sell a product but and with the cbdc easier. It's you're not selling a product. You're not providing an alternative 38:04.330 --> 38:09.850 product you want to provide an alternative means of exchange and that's that's not really uh 38:10.330 --> 38:12.290 No, that's right much harder 38:13.390 --> 38:15.250 Yeah, in other words, um 38:15.770 --> 38:17.810 digital currencies are things that 38:18.310 --> 38:20.630 people doing illegal things might use 38:21.430 --> 38:26.850 But it's not the basis for their existence like alcohol during prohibition was 38:27.850 --> 38:33.070 So, uh, I'm all for I'm I'm a strong supporter of bitcoin 38:34.070 --> 38:37.390 And any other digital currency that 38:38.130 --> 38:46.390 Might arise it seems viable like bitcoin is I'm not in favor of the government having a cbdc because that will be 38:46.390 --> 38:50.350 A means for them to control absolutely everything 38:50.630 --> 38:55.930 Because everything will go through them and their digital currency whereas bitcoin is 38:56.690 --> 39:03.330 Informal and owned by the market not controlled by the government. So different things totally different things 39:03.990 --> 39:10.790 Okay, so next question is could trump get rid of the term limit on the basis of needing more time to complete his plans 39:10.790 --> 39:14.690 And to compete against long-term leaders like putin and g 39:15.410 --> 39:21.210 Um, and that would give them the ability to provide stability like these long-term leaders can in our four-year cycle 39:22.190 --> 39:27.010 It's hard to it's easy to see how we might be outmaneuvered by countries that 39:27.680 --> 39:31.050 They have leadership and policies that sustain beyond that 39:31.730 --> 39:32.050 yeah 39:32.890 --> 39:33.510 well 39:34.340 --> 39:40.070 the world in general and the us in particular is becoming increasingly unstable 39:40.890 --> 39:41.990 and uh 39:42.490 --> 39:44.510 Who knows what kind of a crisis? 39:45.550 --> 39:46.230 situation 39:47.090 --> 39:49.730 Will arise during the next four years 39:50.690 --> 39:54.670 And maybe trump or the people around him will decide 39:55.410 --> 40:00.110 My god, we can't have an election in 28 because there's just going to be chaos 40:00.110 --> 40:05.510 We can't have it. Maybe because there'll be secession movements in the country. Maybe that'll happen 40:05.510 --> 40:09.550 Maybe because there's a gigantic economic financial crisis 40:10.310 --> 40:10.770 uh 40:11.410 --> 40:15.710 Who knows what it could be they might decide that like Zelensky everybody's 40:16.270 --> 40:21.190 Everybody's candidate for the best and wisest ruler in the world who runs the ukraine 40:21.730 --> 40:23.770 I mean, he decided not to have an election 40:24.370 --> 40:28.690 And nobody ever talks about that. I thought I thought it was supposed to be ukraine 40:28.690 --> 40:35.250 The ukraine was supposed to be about defending democracy against russia. It's a really stupid idea, but there's no, you know 40:36.050 --> 40:37.470 You know anything could happen 40:38.010 --> 40:39.170 in in this 40:41.230 --> 40:44.570 Multicultural domestic empire called the united states now 40:45.950 --> 40:49.130 All right, uh next question is about roger ver 40:50.070 --> 40:57.410 He asks if given the recent imprisonment of roger ver also known as bitcoin jesus an early advocate for bitcoin 40:58.110 --> 41:00.810 Have either of us read his book hijacking bitcoin 41:01.530 --> 41:04.610 Um, we haven't we discussed this earlier. I need one of us to read it 41:04.610 --> 41:09.250 But yeah, I know you've met roger ver and talked to him at least a couple times, right? 41:09.250 --> 41:14.790 Yeah, no, I'm yeah. No, I've spent some time with roger. He's a very likable guy 41:15.410 --> 41:15.910 um 41:15.910 --> 41:17.910 And a very sincere guy 41:18.610 --> 41:23.970 And I think a very rich guy also having been a very early adopter of bitcoin 41:24.870 --> 41:26.090 but um 41:26.490 --> 41:30.690 I think roger suffers from ptsd because of his interactions 41:31.410 --> 41:38.030 With the us government and having already been imprisoned because he's he's really a sensitive and gentle guy 41:38.590 --> 41:41.490 Not the kind of guy that does well in a prison. Okay 41:42.290 --> 41:42.810 and 41:44.150 --> 41:45.590 That being the case 41:46.170 --> 41:51.390 I don't understand what he was doing in spain because for some reason 41:52.130 --> 41:52.650 um 41:56.610 --> 42:01.670 Who's unmak if he was young mac right who became a friend of mine before he 42:01.670 --> 42:04.530 What the hell was he doing in spain? 42:05.070 --> 42:11.690 Which has an extradition treaty with the u.s. He should have gone to brazil for god's sake where 42:12.470 --> 42:13.110 uh 42:13.890 --> 42:15.070 There's no extradition 42:15.890 --> 42:16.210 and 42:17.110 --> 42:17.750 Uh 42:17.750 --> 42:22.950 What was roger doing in spain? I don't understand that 42:23.390 --> 42:24.870 they hadn't um 42:24.870 --> 42:30.790 Brought public charges on him yet and and as I understand that he had this dispute with the irs 42:30.790 --> 42:38.350 But it was being you know, they were it was the lawyers talking and there weren't charges filed. That's the way I understand it and so 42:39.330 --> 42:39.850 um 42:41.250 --> 42:45.950 It was I think he was blindsided by the by the charges that showed up 42:46.690 --> 42:49.450 Yeah, well, I think he would have been better off 42:50.450 --> 42:53.690 in brazil or some other non extradition treaty 42:54.570 --> 42:56.070 government uh country 42:56.910 --> 42:57.430 that's 42:57.970 --> 43:01.930 Somewhat or odds with the u.s. Government that would help I mean look 43:02.990 --> 43:04.750 I think wrong with russia 43:04.750 --> 43:05.590 frankly 43:06.250 --> 43:06.930 I mean 43:07.650 --> 43:13.370 It's actually not a bad place to hang out. I mean just as you know if you're a citizen there who's got some money 43:14.190 --> 43:15.030 I mean 43:15.890 --> 43:17.090 It's not like the 43:17.850 --> 43:22.150 Fsb is gonna follow you around or anything like it's not like in the soviet days 43:22.150 --> 43:27.330 It's actually kind of an okay place whether you like butan or don't like butan 43:27.330 --> 43:27.870 and 43:27.870 --> 43:32.110 Other things but it's it's actually a normal country 43:32.110 --> 43:37.640 It would be a normal country if the u.s. Wasn't making war on it should have gone to russia worked. Okay for um 43:39.110 --> 43:41.890 Edward snowden edward snowden, right? 43:43.110 --> 43:49.190 Yeah, that's too bad this situation with him's bad and the thing is is that this because of the arrest happened 43:49.950 --> 43:51.990 Right after this book was published 43:53.070 --> 43:55.290 There's it's great fodder for 43:56.550 --> 43:59.350 Conspiracies that it's because he's revealing these 44:00.230 --> 44:05.010 Details about bitcoin and how he I I haven't heard the book but as I understand 44:05.010 --> 44:08.490 He feels like it's been fundamentally captured, which is why he which is why he 44:09.010 --> 44:14.550 You know was a great endorser of the bitcoin cash fork and why he you know 44:15.110 --> 44:16.970 advocated for that for years and years 44:17.530 --> 44:17.810 um 44:18.550 --> 44:20.030 And but I think 44:20.570 --> 44:25.490 The fact the timing people think is suspicious this book comes out where he lays it all out 44:25.490 --> 44:30.710 And then he's arrested of course these issues were going back years and also should be said that he was arrested 44:30.710 --> 44:35.790 He expatriated more than eight years ago like gave up his u.s. Citizenship a long time ago 44:36.330 --> 44:39.450 And this is his alleged tax evasion comes from 44:39.930 --> 44:40.870 part of his 44:41.390 --> 44:45.090 You know renouncing process, you know we have to you have to do uh 44:45.630 --> 44:47.010 You know you have to basically 44:48.010 --> 44:52.450 Act as though you sold all the assets you own on the day before you 44:53.010 --> 44:53.750 expatriate right 44:54.690 --> 44:55.770 right right 44:56.610 --> 44:57.690 Yeah, well 44:59.250 --> 45:00.750 Roger ought to be 45:01.330 --> 45:02.510 thankful that 45:04.790 --> 45:05.870 Kamala wasn't 45:05.870 --> 45:09.030 Elected because he'd been a world of trouble. Maybe 45:09.830 --> 45:12.110 Maybe it'll be a story with a 45:12.710 --> 45:19.030 Satisfactory or even a happy ending now that the trumpies are involved because they're they say they're pro bitcoin 45:19.650 --> 45:20.250 and 45:20.790 --> 45:23.790 He's and trump has said that he wants to 45:24.490 --> 45:27.770 Not tax american citizens who are living abroad 45:28.550 --> 45:29.410 Which is fair 45:30.150 --> 45:32.390 We're about the only country in the world that does that 45:33.110 --> 45:33.430 So 45:34.190 --> 45:36.050 We'll know more in two or three months 45:36.710 --> 45:42.790 Yeah, I hope so the the thing is that if he's so if the like the bitcoin community really turned against roger 45:43.350 --> 45:45.650 Because he was a strong advocate 45:46.770 --> 45:50.570 For this bitcoin cash and the major selling point was the flaws 45:51.050 --> 45:57.270 That he saw in bitcoin that didn't enhance freedom. I guess was it was the major theme of it. So 45:58.070 --> 46:00.790 I'm not wondering if it'll work against him in a way. I hope not 46:00.790 --> 46:03.270 I mean, I hope that trump will come in and I mean 46:03.270 --> 46:06.790 Especially if their biden's gonna do a bunch of these silly pardons, maybe even vouchy 46:07.590 --> 46:09.310 Silly destructive evil 46:10.390 --> 46:13.710 pardons, but even hopefully trump comes in and 46:14.510 --> 46:15.030 you know 46:16.090 --> 46:17.370 pardons snowed and 46:18.330 --> 46:19.770 pardons roger and 46:20.390 --> 46:25.650 Oh, I can't what's the guy's the poor guy the silk road guy who's been in prison for a long time now 46:25.650 --> 46:31.570 Oh, uh ross albright ross albright. Yeah, hopefully pardons these people and 46:31.570 --> 46:35.550 Gets it, you know, and all the j6 people too just gets it 46:36.230 --> 46:39.810 Puts these issues in the past. Yeah, I hope trump does that 46:41.110 --> 46:45.050 Well, if if he doesn't if he doesn't pardon ross 46:45.750 --> 46:50.550 Then I I think there's an unforgivable oversight on his part. He should have done it in his first term 46:51.030 --> 46:56.830 Should have done it in his yeah, the problem with trump, of course, as I've said many times. He has absolutely no 46:57.830 --> 46:58.710 philosophical core 46:58.710 --> 47:00.570 He's just got gut feelings 47:01.330 --> 47:03.370 And since he's a cultural conservative 47:03.870 --> 47:09.330 We like a lot of his gut feelings, but they're unpredictable and based on nothing but 47:10.130 --> 47:12.550 Gut feeling that's the problem with trump 47:13.270 --> 47:19.650 So I pardon a little little wane, you know, let's resin some other rapper, but didn't pardon albright 47:20.330 --> 47:24.590 Yeah, it's it's yeah, it's it crazy. It really is 47:25.230 --> 47:27.030 This is gonna be so interesting 47:27.600 --> 47:32.810 The next four years in fact the next two months might even be interesting. I mean 47:33.950 --> 47:36.690 Things are like every week has been interesting for the last 47:38.050 --> 47:40.390 Four years really let's be honest 47:40.910 --> 47:41.710 It's been exciting 47:42.410 --> 47:48.410 And you know right now it's like it's like one of those old western movies where 47:49.490 --> 47:50.630 They're under attack 47:51.270 --> 47:56.030 And the one soldier says to the other, you know, it's quiet out there. You know, the guy says, yeah 47:56.030 --> 47:57.750 I think it's too quiet 47:58.310 --> 48:04.050 And it's kind of like that now in between now in january what 20th or whenever he's installed 48:05.010 --> 48:05.450 Yeah 48:05.910 --> 48:10.370 Yeah, no kidding. There's one there's one more question. I didn't mention it to you beforehand, but someone just asked for 48:10.890 --> 48:12.690 comments on the uruguayan elections 48:12.690 --> 48:16.530 Uruguayan elections happened here. I guess the final round was 48:16.990 --> 48:19.910 last week or 10 days or something like that and 48:20.770 --> 48:23.210 The center left candidate one 48:23.990 --> 48:24.850 and uh 48:25.350 --> 48:29.830 I don't know. Do you have any comments about uruguayan politics or the candidate anything at all? 48:30.150 --> 48:32.870 Well, I don't follow it because 48:34.510 --> 48:37.790 I really don't like the the last guy 48:39.050 --> 48:40.150 What was his name? 48:40.870 --> 48:41.670 Cajet Poe 48:42.170 --> 48:44.550 Yeah, I don't even know the names of these people 48:44.550 --> 48:49.250 But from everything I could see and feel 48:49.790 --> 48:53.810 He was a you know decent guy an okay guy 48:54.530 --> 48:59.370 and the new guy is apparently uh was mentored by 49:00.210 --> 49:01.170 Pepe Mujica 49:01.750 --> 49:02.630 who was a 49:02.630 --> 49:08.890 Ultra left radical during the 60s, but when he was in office, he didn't steal any money 49:09.390 --> 49:11.690 I mean he lived like a simple farmer 49:11.690 --> 49:18.330 And didn't really screw things up greatly. Well, he did a little bit like he had 49:18.810 --> 49:23.170 I guess it was under Mujica that they installed a 0.00 49:23.850 --> 49:24.490 tolerance 49:25.090 --> 49:26.990 for alcohol driving 49:27.550 --> 49:32.790 Which for a resort community a beach community is really kind of stupid and unrealistic 49:33.570 --> 49:34.570 So he did that 49:35.050 --> 49:38.210 and the other thing that Mujica did was that uh 49:38.210 --> 49:45.110 You know, they used to say Uruguay was a Switzerland of South America with bank profit secrecy and 49:45.930 --> 49:50.970 Things of that nature and he kind of knocked those barriers down now so 49:51.730 --> 49:55.470 You can determine one way or another who owns real estate 49:56.270 --> 49:58.110 and and so forth which 49:59.470 --> 50:00.070 So 50:01.050 --> 50:04.550 And this guy is was mentored by him so 50:05.270 --> 50:06.510 Yeah, I mean 50:07.690 --> 50:12.770 But on the other hand, this is kind of a slow-moving socially stable country 50:13.830 --> 50:20.530 I don't know no snow for him opinions. He's not a raving lunatic, which he might have been could have been 50:21.830 --> 50:23.070 Yeah, it's uh 50:23.070 --> 50:29.130 Just the big thing with Uruguay and I'm just you know, I've only been here for three years. So, you know, you don't really 50:29.830 --> 50:32.290 You can't it's very hard to comment on 50:32.930 --> 50:39.210 Unless you're really really been in place for a long time and you understand the nuances of the the political wins and everything 50:39.210 --> 50:42.510 But I asked my and cap Uruguayan friends 50:43.890 --> 50:49.650 Uh before he won I said, well, what happens this guy wins. Are you worried and they're like, oh, no 50:49.650 --> 50:50.150 No 50:51.610 --> 50:56.110 Reality it won't make any they're basically all the same 50:56.110 --> 51:00.090 You know, they don't like the state, of course in general and they're like, yeah 51:00.570 --> 51:05.090 You know around the edges you get some things like we got the under the last president 51:05.090 --> 51:10.730 They increase the number of guns that an individual could own for instance. Oh, yeah, right 51:11.290 --> 51:15.470 Now so you get these little benefits, you know, and so maybe they'll for the new 51:16.170 --> 51:20.830 You know, maybe there's something around the edge where they they move that back down to where it was before 51:20.830 --> 51:23.150 But you know, like it's just trimming is around the edges 51:23.890 --> 51:26.070 Um is probably what's what I would expect 51:26.570 --> 51:31.050 I think you're right. Yeah, absolutely. I think you're right. Yeah, that's why I read it too 51:32.150 --> 51:34.530 So no no big negative change 51:35.190 --> 51:37.890 One positive thing is that, uh, you know, we were trying 51:37.890 --> 51:42.090 Uruguay has been trying to get a free trade agreement with China for a long time 51:42.090 --> 51:43.430 and uh 51:43.430 --> 51:46.150 Because we're in the trade block with the the Mercasor 51:46.730 --> 51:50.370 Countries here. So brazil and argentina it was always 51:50.970 --> 51:54.990 Made impossible by our much larger much more powerful neighbors 51:55.690 --> 52:00.550 But mille of course wants a free trade agreement with the us and other countries 52:01.050 --> 52:01.970 so he's 52:02.490 --> 52:10.310 uh pushing very hard to break that rule and get it broken for all of the countries in this trade block, which would be 52:10.810 --> 52:13.350 Really good for everyone down here. Maybe not great for 52:14.090 --> 52:19.270 Short term for controlled interest in brazil, which is kind of the major veto on all these things, but 52:20.030 --> 52:25.810 Yeah, I mean, I think we'll hopefully we'll get some positive things from mille even, you know, infecting things here 52:26.530 --> 52:27.130 Indirect, yeah 52:27.690 --> 52:33.090 Yeah, you're absolutely right. I mean as argentina straightens up and starts flying 52:33.770 --> 52:34.670 Flying right 52:35.330 --> 52:38.690 Yeah, it'll have a favorable influence on 52:39.410 --> 52:42.490 Uruguay certainly and maybe brazil too 52:43.010 --> 52:44.130 Maybe chile too 52:46.050 --> 52:46.610 Yeah 52:47.230 --> 52:52.370 All right. Well, I think that's that's it for today, Doug. So we'll leave it there and then we'll be back today is that 52:53.010 --> 52:54.570 Jesus, what's it? Oh today's friday 52:55.390 --> 52:56.870 Right. Yeah. Yeah 52:57.470 --> 53:00.630 Today's friday. I'm getting lost right with day the week it is 53:01.890 --> 53:03.430 Now it's academic 53:04.330 --> 53:04.890 Yeah 53:05.470 --> 53:07.750 And we're advancing towards the end of the year 53:08.790 --> 53:14.250 It's coming fast. We got our christmas tree already, Doug. I'm not already, but it's about that time 53:15.150 --> 53:17.930 Yeah, well once again to quota 53:18.770 --> 53:21.390 A rock song which and rock songs 53:21.950 --> 53:27.190 Actually are the poetry of our days, you know, it's not like people don't read poetry anymore 53:27.190 --> 53:32.190 People don't read words worth and god knows who but they quote rock songs and rocks 53:32.750 --> 53:37.150 Rock song lyrics are the poetry of our days. So it's an what is that? 53:37.510 --> 53:39.990 It's a work a day world and the whistle blows 53:40.870 --> 53:43.030 And another day goes down the drain 53:45.750 --> 53:49.690 As is another podcast, all right, thanks Doug. I'll see you next. Okay, thanks 53:51.390 --> 53:52.090 You