0:01wrote in I put in uh parentheses X and then CIA with an arrow. He's like that's fair. Like like I sat it down right before we got on. I was like that's fair.
0:10>> Speaking of XCIA, how do you feel about that John guy? Kiraaku.
0:14>> John Kirakaku. Are we rolling, D? All right, we're rolling.
0:18>> Kiraaku. Kiryaku is a good friend of mine. It would [clears throat] break my heart if he was still on the payroll.
0:23And I would genuinely be stunned because of all the things that people publicly know that he's gone through that they put him through.
0:30>> Right.
0:30>> But beyond that, the things that he went through privately that he can't talk about.
0:35>> Yeah.
0:35>> If he did that and this were a sheep dipping situation, it is the most committed to a bit I have ever seen someone in my life.
0:43>> And it would be it would be pretty heartbreaking.
0:45>> Wouldn't a guy like that though talking about the he's talking about about the people that he's seemingly involved with. Why would they be letting him talk his for so long? He's doing a podcast store about it.
0:58>> Well, that's a great question. I I think there's I think there's a couple reasons there. I think number one, there are people who are currently in government despite all their own litany of PR issues who see him as it's advantageous some of the other things that he's talking about. Not when he talks about Ebstein and Israel and stuff like that, that's not advantageous for him. But some of the other things he talks about, >> he doesn't go heavy into the Israel thing. He like alludes to it almost like JD did the other day with with Joe Rogan. He >> I Yeah, I think he's a little harder on it than than JD because he worked he had
1:32to work, you know, >> in situations with MSAD guys and stuff and that was a personal just disagreement. They did not like each other. But, you know, I think the other part of it is they they also already ran him through the system. They threw his ass in prison and like they can't really do anything to him. He already had to >> had to plead guilty to a few charges that he wasn't guilty of. Like they already over his whole life. So at this point it's like they created this Frankenstein and now they just got to deal with it. You know, I guess I'm just so pessimistic now, especially when people talk about this.
2:07We know this going on. Why are you so freely allowed to just cuz people say like once CIA always CIA? I know he hates that. I know he hates that phrase, but it's like, >> hey, it's a fair, it is a very fair point. Like my other friend Andy Bamante, he 100% still works. [laughter] Been saying that since the first time you ever came on here, so it's >> But he would claim he doesn't.
2:28>> Of course he claims he doesn't. He laughs at me. But like, you know, on air, off air, I'm like, you know, fool me, pal. I see the government talking points. But then there's there's what I worry about more is when it's someone who doesn't have, you know, you look across all these different shows that are happening now that have huge audiences and someone comes on shows who doesn't have a resume anywhere near government.
2:50>> Mhm.
2:50>> Right. But something's going on there. I I don't know. I don't know who those people are. Other hosts don't know who those people are, but like why why would messaging from whoever that might be?
3:02And it's not one person. I'm sure it happens more often than we think. Why would that why would they want these people to say these things, whatever those are? I think about that a lot. I think about that a ton. There have been a couple times where I've been in the studio and I've been sitting with someone and when they leave I think about it and I'm I'm like some of that felt a little unnatural. It's only been a couple times.
3:24>> Like why would they want me to know that type thing? Like where are you getting at?
3:28>> Hey guys, three quick things. Number one, if you haven't subscribed, please subscribe. It's a huge huge help. Number two, if you'd like to join my Patreon for early uncensored releases of the full episodes, you can join via the link in my description or in the pin comment below. And number three, if you'd like to join my clipping community for a chance to make content from the show and make money, you can join via the Discord link in my description below.
3:50>> Like what you talk with someone for three hours, right? So >> get to know them a little bit.
3:54>> You get to know them. Why' they slide in this thing at the second hour?
3:58>> Okay, got it. Got it. Once we were already deep, it kind of had nothing to do with anything. And and then I'm like, I'm just being paranoid cuz what the am I going to do about it? I'm a YouTuber.
4:07>> So, you're saying like maybe they had a little check box they wanted to hit before they got off with you?
4:10>> Exactly.
4:11>> Okay. Exactly.
4:12>> And it never really came up. It was kind of forced by them >> a little bit. Yeah. Or like a point that was made in there and then I'm like, well, how many people are going to hear this and then how many people are going to be, you know, think like, oh, I really like this person. And then want to agree with them on that thing.
4:27>> You know what I mean? Like that's why that's it's like a psychological thing.
4:31The psychological part. We could get into this the whole entire time.
4:35>> Before we do, by the way, >> please. This is your this is your plane, sir. Go ahead.
4:39>> We just we just opened this thing up. It was >> 21 questions right here. But we've had we've been having a great conversation for an hour and a half. I love your work, man.
4:47>> I love yours, brother.
4:48>> Thank you. Thank you.
4:49>> Come here. We're going to reach >> Yeah. [laughter] Yeah. Yeah.
4:52>> But I love your videos. you are, we'll get into your story today and everything, but you are really speaking for so many people, especially in the younger generations who, to use your phrase, are getting worried about whether or not there is in fact the light at the end of the tunnel. And I think I think if more people like you are, you know, putting sunlight on there to be the best disinfectant, you know, maybe we can turn some things around here because I know you and I were talking. We're both optimistic people and sometimes we're just looking at this world like what the >> all the time. But you know what what's
5:22so so you were in real estate for like a full decade or something like that?
5:26Still am >> before and and you still are, but like were you were full-time in that do selling houses all the time and then the content thing started. We can get there.
5:33But before that, you were in the military as well. Yeah. Where where where what part of the military?
5:38>> Uh, so I actually joined the Army National Guard. I did not want to do the full-time army thing. And then my unit said as soon as I got back from tech school, which was a year long. I didn't know I was signing up for that. So then I got home and they're like, "Yeah, we're going to Afghanistan in a month."
5:52Like, "Oh." So I turned into a real army soldier real fast.
5:56>> What year?
5:58>> 2013.
5:58>> Oh, this is when Afghanistan was popping.
6:01>> Yeah, 2013. I didn't see anything nuts.
6:02We got bombed every other week or so.
6:04[laughter] But like, but but but let me hear you. Hear me out. Hear me out.
6:08These are like rocket propelled grenades coming off mountains where they're currently watching their goats.
6:12[laughter] Half of them end up going into the river. There's there's not anything like I'm not going to sit here and be like, it's it wasn't that crazy. It wasn't that crazy. Um I got more funny stories about when bombs were going off than any.
6:23>> More funny stories.
6:24>> More funny stories. Like when they knew we had a basketball tournament going on, they kept bombing us like every 20 minutes cuz they knew our time schedule.
6:31like, "Oh, they're going to go to the bunker for 15 and then it clears and then it goes out." They were just ruining our basketball tournament.
6:35>> Well, that's I appreciate them like working on schedule.
6:38>> Yeah, they I want my bombers on schedule.
6:40>> It's more irritating [laughter] than anything. Oh, yeah. July 4th hit.
6:43It was gigantic bombings that day. For sure. For sure.
6:47>> So, they'd throw a bomb and then you guys would light some fireworks off and like go [laughter] >> pretty much. Pretty much. But >> I got out of that. Um, and then I did two years active within the Guard working in their marketing department. I help make some of those >> in the marketing for the >> Yeah. for Delaware. For Delaware. And I enjoyed that. That was like my first taste of having a little bit of creativity in a job.
7:12>> And so I think that kind of unlocked something that now I get to experience a lot.
7:16>> Now, did they let you really get creative?
7:18>> No. Yeah.
7:19>> No. In fact, back then they they got like a $50,000 sponsor. Well, we need you to make this uh 16 ft banner for the Wilmington Blue Rocks. I'm like, how much? $50,000 for the Wilmington Blue Rocks.
7:35>> All 10 people in the stands.
7:36>> What if we [ __ ] put Could we put that into a Facebook ad? I could make us a Facebook ad. I could make us a B. We could There's so many kids on Facebook and Instagram right now. We don't Blue Rocks.
7:46>> Okay. [clears throat] And they just had they just had they [laughter] had a budget that they had to hit. They're going to spend their money and it was what it was. But I did get a little inkling of the creativity. That creativity would lead me to joining the Department of Corrections as a prison guard.
7:58>> You were a prison guard?
8:00>> As much as that sounds believable. Yes.
8:02And one of the worst they've ever had.
8:04[laughter] >> Wait a minute. Wait. What? What prison?
8:07>> Uh Gander Hill was the one I spent the most at, which is actually not far from here, Wilmington.
8:12>> How was that? Like that's a psychological.
8:15>> It honestly not not bad to only be there for about a year. the people that spend their entire career there. It's really hard.
8:23>> Yeah.
8:24>> It's really hard. Um and Delaware is not one of those really hard prisons either.
8:28It's it's pretty low-key, but >> still a prison.
8:31>> Yeah. And you're around people all day that are either there for their entire lives.
8:36>> They're depressed, you know, they don't have anything to look forward to except like lunch. And people that are doing the same thing. They're like, I'm going to be here for the next 20 years and the next thing I'm excited for is is lunch.
8:48And that's just the people you hang around with all day for 20 years. And those people kind of become soulless, you know, people. And it it's not fun to be around. There's not much enjoyment in that job. But >> did you get because you're young doing that? I mean, that's that's that's an early job for you. Did you get >> some interesting perspective on life though? Like where you you are, you know, you're there to do a job. So sometimes you're talking with guys who are in there for whether it's 20 years or life or something like that. like, >> you know, they made decisions that put them in a bad position obviously and now
9:23they just sit there and watch the clock until they die.
9:26>> Yeah. I remember one good story that uh I was able cuz the main thing I would get in trouble for and I never got like written up and I could like talk to is I would talk to the inmates too much.
9:36>> They didn't like >> Oh, I be I'll be talking ball with them.
9:38Be like, "Y'all see Kyrie last night?"
9:40Like, "Oh, yeah." Like we were talking ball.
9:43>> [laughter] >> You're allowed to You're allowed to You're allowed to talk ball with the inmates. They're normal people.
9:49>> I think Kyrie watches this show. So, if he's out there, right?
9:52>> What's up, Kyrie? I Hey, listen. I was a Cavs fan when LeBron left when Kyrie came to Oh my god, he was my god for a little bit.
9:59>> Kyrie Truth and and then he became the truther before anybody else. [laughter] I'll rock with Kyrie, man. Shout you out. One of, if not the most common DMs I get on Instagram are many of you asking me what my favorite books are.
10:13Well, today's your lucky day because if you use the link in my description below to join my newsletter, I'm going to give you my top 10 book recommendations right now. Also, if you'd like to join my clipping community for a chance to make money producing content from the show, you can do so via the Discord link in my description below. And finally, you can join my Patreon for early uncensored releases of the full episodes via the Patreon link in my description below. As always, please take one second to hit that subscribe button if you haven't already. I really appreciate that. Also, the like button is a big help and you
10:40can join my newsletter via the link in the description. Um, [snorts] the one story I remember a lot is there was this one guy, we were at a level four in Wilmington, a level four prison in Delaware is almost like work release.
10:52>> Okay.
10:53>> And so it's a it's a weird spot because you get this combo of people who like evaded their taxes with someone who murdered people 20 years ago and now they're kind of slowly getting back to society.
11:02>> All right. So, here's a here's a novice take right here because I'm not familiar with the grading, but why do you have those people if it's so close to a work release? Why do you have people who are in like prison for life there, too?
11:13>> Because this is when they were and it's not everybody that they do this to, but for the most part, when they're getting towards the end of their sentence, >> it like slowly gets them back in society. Like, now you can go get a job now. Yeah. Let's slowly get you back.
11:27>> The end of the end of uh the guy's life in in >> Yeah. Exactly. Exactly. Brooks. Yep.
11:33Brooks. Yep. Then he goes and does groceries for a little bit and then he hangs himself. Exactly. [laughter] >> That's it. I'm sorry. I had to bring it up. It's sad.
11:40>> You haven't seen that movie, man?
11:41>> That scene kills every time.
11:43>> You haven't seen Josh Angry. Oh, spoiler alert. Sorry.
11:46>> Seen The Godfather. I don't want to [laughter] [ __ ] hear it. I don't want to [ __ ] hear it from you. Don't Don't be making fun of my people. You haven't seen Godfather 1 and Godfather 2, and you're in New Jersey right now.
11:55>> I hear you left out Godfather 3 there.
11:57That was interesting. Listen, Godfather [laughter] 3, misunderstood movie, but you know, [snorts] could have been better.
12:03>> We can both agree that one of the greatest trilogies was Batman Dark Knight. So, >> and it was ahead of its time.
12:08>> Beautifully ahead of it time. I mean, now we have the Joker of Tik Tok. Now he's like like the Joker wasn't that crazy. [laughter] He just wanted the world to burn. That's wild.
12:22>> Oh man. the this this guy though that was at this level four. He'd been in for 25 years and I was just getting started and delving into getting my real estate license. So, I kind of had the entrepreneurial bug and I asked him, "What brought you in here?" He was just shooting around and he said, "Oh, I was a drug king band."
12:42>> I like Oh, tell me about it. as I as I normally did, which obviously I wasn't really supposed to, but regardless. Um, they also had an Xbox that they snuck in and I played FIFA with them once. That was fun.
12:55>> Oh, boy.
12:55>> Um, beat their ass. The [laughter] That's a No, I told I told them they could keep playing too if they beat me and then I won and they shut it off.
13:04[laughter] >> Level four is different. It's not like they snuck the [laughter] Xbox in.
13:10>> Two other like you left and they're like, "Oh, thank God." probably probably probably the inmates and the correctional facility. [laughter] Um but this guy ran a he said he had over a hundred people working in his infrastructure top down from suppliers, dealers, you know who who were making sure that all the logistics were handled. It was a full-fledged business.
13:31>> Yeah. General Electric over here.
13:33>> Yeah. In in the in the early 80s coming out of the 70s selling a black market item. here I am trying to learn how to sell a home publicly online and you were selling things you weren't even allowed to market >> right >> and comes right to that I'm like I see a lot of what I'm initially starting to look at in the framework of a business that just kind of started off on a different I don't want to start a different decision maybe just they had a different position in life a different foundation than I had and so now they're going after something that was attainable for them but still I mean as
14:07crazy as you may say still as kind of was admirable.
14:09>> Yeah.
14:10>> So, he smart people that exist to the in there was probably the biggest uh shift for me because I was raised in like a Republican household. We didn't talk a lot about the big social issues of the world. And going from prison in Afghanistan for sure shifted my mindset a little bit about how other people are being treated.
14:27>> It didn't dawn on me as heavily as maybe it does in the last 3 four years.
14:32>> But, uh it's definitely a good perspective to look back on.
14:34>> What in Afghanistan? cuz you said besides they would just bomb you on schedule and they were cool with it.
14:39What was really like >> how cool the Afghanis were.
14:41>> Yeah.
14:41>> How cool the Afghanis were. We had we had uh this one FOB FOB uh >> I don't know if I can say the name. Um cuz I don't know if it still exists where it was a a small little area in the midst of a bunch of different uh hills. We were almost in like a bunker base and it only was accessible by two helicopter pads and I was there for the tech. There was a CIA section of this.
15:02There was we don't actually know who was there. We think that there were also like highle seals and stuff because they come in and they're they're blackhawks and not talk to us and go straight in.
15:10But >> um when we were there, I met a group of three Afghanis who worked on what was called a blue green sector of our FOB. So it was their military working with our military.
15:26>> And we just played ping pong all the time together.
15:29>> Cool guys. Cool.
15:30>> And and cool guys. Could they have wanted to secretly cut my neck open?
15:33maybe, but they're really good at ping pong.
15:36>> Yeah.
15:36>> And we seemingly actually connected on a lot of different things. They had a lot of questions about America. I had a lot of questions about Afghanistan. It's like, you know, we kind of both learned, you know, through months that we're kind of fed propaganda about each other a little bit.
15:50>> So, that was kind of a little bit of a little bit of an eye openener. You know, the guy that's making my sub, you know, does he want this war going on? You know, he's he's just sitting here making a sub sandwich. Yeah. I so seeing that of course there were people there that wanted us dead cuz we were getting bombed all the time >> but there was also a subset of people that probably wanted nothing to do with us and wanted to make food.
16:10>> There's probably an understanding among a lot of people that were there. I don't know if I've ever asked any of the guys there about this. It's interesting. But you know where some of the people on the ground there, not all of them, like you said, some may hate you, some may love you, but >> you know, some of the people on the ground there know that you're there and you didn't decide to be there and a bunch of people in suits decided for you to be there. And when you're just chilling, playing pingpong, eating food or whatever, they're like, "You know what? If we'd grown up next to each other, we wouldn't think that much
16:39differently."
16:39>> Now, I will say the guy that played a prank on me when he was cutting my hair with a straight razor.
16:45>> Not fun. That wasn't good.
16:46>> Not fun. I had been going there for a good month. Middle of middle of my haircut, he starts going for the straight razor, right? He starts cutting me up.
16:53>> In the middle of us in mid-con conversation, his he just goes full Afghani speak. Uh which Poshu was was I believe the language.
17:01>> Oh no.
17:01>> To his boy over there. And then they both started looking at me and they could see my face shift and they're like, "No, no, no, no." [laughter] >> They hit you with the aloobar or something.
17:11>> Listen, I don't even know what they were saying, but I was like, "This is it.
17:14This is it. This is the the straight blade is going to happen and I'm it. I'm in. Yeah. But that was probably the scariest moment. It was actually a lot of fun again.
17:20>> But the rest of it was fun.
17:21>> Yeah. I'm got to work with a lot of Ukrainian soldiers. They just love to drink and party.
17:26>> I was at one spot where there was only about like 10 American soldiers. The rest were Polish.
17:30>> Yak.
17:32>> And I do too. We forget how many different like countries just had little units in that place all the time with us supporting the effort or >> almost all the European countries, Australia, they were all there. What the Ukrainians think of the Donbass at the time?
17:46>> Who? Donald Trump.
17:47>> No.
17:48>> Who's Donbass? [laughter] >> What the [ __ ] >> He wasn't even a thought in 2013.
17:53>> What? What's it called? Dess. I never remember how to say him. The Donbass region. The thing they fight over in this war where Putin's like, "That's ours." And the Ukrainians are like, "That's ours." And then the people that live there are like, "It's kind of theirs." And then they're like, "No, it's ours."
18:06>> We'd have a thrilling podcast if I was there today, but at the time I >> at the time I blew. Yeah.
18:12>> You were there like right when this was popping off almost.
18:15>> Sure. Yep.
18:16>> And you weren't paying attention.
18:17>> Not at all. I thought I was there for uh serving America. I didn't even know I was serving Israel. I was there.
18:22[laughter] >> I had no clue. Poppy Fields and BB Netanyahu were signing my paycheck.
18:28>> Oh. Did you get to take some party favors from Poppy Fields?
18:31>> No, I never actually saw Poppy Field.
18:33>> Oh, you never saw one?
18:34>> No.
18:34>> You just heard about it?
18:35>> I saw the the hill that Mark Wahberg and Lone Survivor survived on. That was kind of cool.
18:41>> That is cool. Yeah. I had the guy who was one of the dudes rescuing Latril in a few weeks ago.
18:46>> Okay. So, you've already had someone who's a lot closer to the situation.
18:48[laughter] >> Yeah.
18:51>> You're saying I saw it. Where were you?
18:53>> I bled there. [laughter] >> You know what he did a month later?
18:58>> What?
18:58>> He killed Bin Laden.
19:00>> No way. That's the same guy.
19:01>> Same guy. It was like a year later or something.
19:03>> Oh my god.
19:04>> Yeah. That's like a whole thing on the internet now.
19:06>> He's retired now, right?
19:07>> Yeah. Yeah, he is retired. Do people think weirdly of him that he was involved in so many highlevel >> that whole dude that whole thing is one of the most toxic online conversations there is about people bitching about whether you know who killed Bin Laden or whatever.
19:24>> I really like Rob. And I'll tell you this, I 100% believe that Rob fully believes that he fired the killing shots into Bin Laden. But the fact of the matter is, to quote Rob, like there's him and then the one unnamed guy who's never come out publicly, the the team leader >> at at the top. Those are the two guys who know what happened in there.
19:47>> And it's I you know, and I was I was saying this to him the other day on the phone. I was like, you know what's crazy? This is like the greatest special op mission of all time ever pulled off.
19:57Like, who the cares? Why do people fight over this so much? But it's just how it is cuz he ended up his name ended up being pulled public and all that and then obviously he went public after that.
20:09>> Explain why they threw him off the why they threw him off the ship.
20:12>> They've been like oh the body.
20:13>> Yeah, >> we did talk to him about that. Right.
20:16Right. Die. They didn't have any say in that matter. That wasn't like their part of the mission. They brought the body back. They handed it off. Whatever happened there later. I think, you know, the thought was they didn't they didn't want to create like a a shrine for him, meaning like if he was buried somewhere, people would eventually figure out where it was and it become this like shrine for people who were anti-America or were like pro bin Laden. But in the process, I think what they did is they just open creaked the door open for the conspiracy theories, >> right? Why haven't we walked through
20:49this enough to know if we can't see the body, we're going to have questions? And I understand that like people now, don't blame them at all with all the lies and we've been fed for so long of which you and I are going to talk about plenty of these today. It's so easy to just be like therefore everything ever isn't true.
21:07>> Yeah.
21:08>> And it's fun, too. It's a lot of fun to say that. I will say I fully believe they killed Bin Laden.
21:13>> I I do. Maybe part of that is like I was sitting here with a guy who was on it, but >> I I do think they killed him.
21:20>> Yeah, I think they killed him, too. I wonder about where what his actual position in all of it was.
21:28>> Yeah. I mean at that point [clears throat] at that point especially he's a tired old man living behind a 11t wall who just to get some information from the outside a courier has to go through all these different places just to backdo it to him with a letter you know. So, it's like I don't really know what kind of power he he had at that time other than >> I think I think the main conspiracy is it connects back to Bush cuz Bush's family and Saddam's parents were connected through oil.
22:02>> Yeah. The original Bush. I see. I don't know.
22:05>> Is that on your chart?
22:06>> It is not. 911 is not on my chart.
22:08>> It's not on your chart.
22:09>> I know. I know. Why is 911 not on my chart?
22:11>> Pull this [ __ ] chart up. So, >> 911 is not on my chart. It's the most autistic thing I've looked at this week.
22:16>> Hell yeah, dog. It's the best compliment I've gotten all week.
22:18>> All right, so wait, we we got five cells right here. What do they stand for? The spheres of corruption. But what are >> these are the spheres of corruption.
22:25This is just the culmination of a lot of frustrated content, yelling in my car, wanting to be in one place.
22:33>> That's right.
22:34>> Um, so that green cell right there, that's banks, private equity, Wall Street, all the finance stuff.
22:39>> Can we zoom in on that real quick, D?
22:40People can just see like see you just connected all of it and you got >> Why are you laughing over there? You're laughing over there like >> Amanda. Amanda, >> you see something funny? This is American history. We're laughart right there.
22:53>> Is he in this?
22:54>> I think that's John Adams, actually.
22:56>> Well, it looks like Alexander Hamilton.
22:59My apologies.
23:00>> Oh, I know why he's in there.
23:01>> Alexander Hamilton.
23:02>> Gotcha. Gotcha. Yeah. Look at this.
23:05Yeah. Why does the founder of the First Central Bank get a big Broadway show?
23:08Why do we do that? Epste's gonna have a show here in at least five years.
23:11Calling it right now.
23:13>> Calling it. Epstein on Broadway.
23:16>> H. No, this is pretty cool. We're going to come back to this later for sure because that's going to tie in some things. But that's banks. What are the other four?
23:22>> Yeah, that's banks. So like at the top of it's like Rothschild and then it gets in like US history of banking. This is government. Um, love it. So we have things like the Freedom Cities, Honduras Gate.
23:32>> Does that say Greenland?
23:33>> Greenland.
23:34>> God bless America.
23:35>> PayPal mafia. Uh, Ron Lauder. Uh, I don't know if you know, um, uh, Howard Lutnik.
23:44>> Oh, I've heard of him.
23:46>> Okay.
23:46>> I've heard of him. I think he's heard of me, too. He's probably heard of you.
23:50>> I hope not. Based off our prior conversation. [laughter] >> I sure hope not. [laughter] >> That's going to have to stay an inside joke, but okay. But he's got his own line here. [clears throat] >> Yeah. Howard's Yeah. Scroll up real quick. That's Ron Lauder.
24:08>> We didn't have the mics.
24:09>> And then there's Ron Lauder with Howard or Scroll down. Scroll down. There's uh Howard and Ron Lauder in that picture down at the bottom right in the righth hand corner right now.
24:19>> Okay. Yeah. Yeah. Yeah. I see that.
24:20>> Yeah. And then >> Lauder Fortune.
24:23>> Yeah. So I try in this to try to make as many [snorts] >> storytelling connections as we can. Like if you kept scrolling to the right here, it's more on 9/11. you know, how that played out, where he was, how he profited off of American Airlines, uh, the fact that school shouldn't have been in at that time.
24:42>> He profited off American Airlines after that.
24:45>> Yes. Uh, bottom right, farther right with the his bald head and the two highlighted sections.
24:49>> Yeah. I'm always down for a tangent on Howie.
24:52>> Uh, yes. Zoom in right there. So, it says Lutnook took anywhere from 15 to2 million of the total $135 million payout from American Airlines. He pocketed it and was actually Oh. Oh, right. No, no, I know about that. So, that was for the victim's fund for Canon Fitzgerald that they paid directly into.
25:09>> Correct.
25:10>> That's kind of funny that he did that.
25:11>> Yeah, it was confirmed by his own board.
25:13>> That's [clears throat] a little little little funky right there.
25:16>> Why is any money being taken out for his personal name? Like any >> It's insane.
25:19>> A billionaire.
25:20>> It's insane.
25:21>> Taking money from the victims of of one of the worst American tragedies ever.
25:25>> Yeah.
25:25>> And we're not supposed to just We're supposed to just look at that and be like, "That's okay." And if that was the only thing, maybe that would be the case. Okay. He's just a greedy sob. But you and I both know there's there's so much that lines up in this guy.
25:37>> I wanted to have a place where we can put all of the information, not just on him, on a bunch of different people.
25:42Epstein, BB Netanyahu, like Peter Teal, the whole deal.
25:46>> Love it.
25:47>> Cuz we got to put it in one place because I feel we're so divided, bro.
25:50>> I feel there's a lot of people that are like kind of politically activated and >> like I like I have a buddy of mine who just recently got into sports. It has been fun. He's really enjoyed the World Cup.
26:00>> He just recently got into sports. just recently got into the sports. Wasn't a big sports head growing up. Wasn't a big sports head, but just like started watching. Yeah.
26:07>> Confirmed.
26:08>> Yeah.
26:08>> Yeah. So, like you get into sports, right? And you start talking with people that talk sports. One of the first things a as a baby virgin sports watcher, they're going to be like, "So, who's your team? Who's your team? I got to know if I can like you or not."
26:22>> Yeah. Who's your team?
26:23>> Yeah. Uh, what sport?
26:26>> I don't like the answer of that already.
26:28>> What sport? Soccer. Football. Football.
26:3049ers. I was a 49ers thanks to my dad.
26:33He was a Joe Montana fan.
26:35>> He was from San Francisco.
26:36>> He was actually from Arkansas. So Arkansas and Delaware both not having sports teams. We were free agents.
26:41>> All right. Actually, that's I'll accept Arkansas. I won't accept, but Arkansas I'll accept.
26:46>> Give my dad some love out of the depths of hell. Arkansas.
26:49>> I'll accept it.
26:50>> But uh I think politics is kind of the same thing. You get you start getting involved in caring about maybe what's going on in society one way or the next.
26:57And the first question people ask you, what team are you a part of? I got to know if I can like you or hate you.
27:02I think that's pretty [ __ ] stupid.
27:04This tribalism of politics and as somebody who feels like the new the new guy, the newbie, because I wasn't a political guy, everyone's yelling like, "You got to be this team. You got to be that team." Like, can we talk about housing and healthcare?
27:17>> That's the trap.
27:18>> Yeah. I can we talk about things that economically stimulate the next generation and excite them toward being a valuable piece of this society, a valuable piece of this capitalist economy. A free market is determined by the people's motivation in mass to want to grow themselves so in tune it's going to grow the economy. And we're not creating jobs. We're not creating opportunity. We're not creating higher education or at least making it more accessible. We're only making it less accessible. And that higher education is now not even leading to jobs >> 100%. So, so where where's the like you said at the beginning, like where's the
27:50light at the end of the tunnel economically? I don't [ __ ] know.
27:53That's why I started just putting together this corruption map. [laughter] >> Well, listen, it got here, but it started with a very simple question.
28:00>> You know, it started with a like, all right, how can we live the American dream the way it was supposed to be lined up, for lack of a better way of putting it.
28:06>> The first question I asked when I put my pen down was >> when you put your pen down, you apparently never put this [ __ ] thing down.
28:12>> Take it. Take it.
28:12>> This is like the This is like Heath Ledger's Joker diary. Let's hope you're not taking ambient at night. [ __ ] It's got like drawings in here. Look at that.
28:22>> Don't read too deep. Don't >> Was that you or your daughter?
28:24>> It was my daughter right there. Might have been me. Depends on the night. How much ambient? Like you said, >> that's you.
28:29>> Yeah. [clears throat] >> Anyway, what does that say? 6 A.
28:33>> No, probably >> 4 BC to 6 A.
28:36>> Oh, well, maybe.
28:38>> All right. [laughter] >> Maybe the rabbit hole goes deep. All right.
28:42>> But the first question was, why can't my boys buy homes? I made a living off social media >> selling homes to degenerates.
28:50>> To degenerates.
28:51>> Degenerates.
28:52>> Degenerates.
28:53>> Oh, because anybody could buy a house.
28:54If you had a I could advise people to simply get their credit score above 620, have a full-time job of any kind really.
29:01You needed to make like 36 grand a year as long as you didn't have a lot of debt.
29:05>> This wasn't before 2008.
29:07>> Oh, no. This was 2017, 2018.
29:09>> This is not reassuring.
29:10>> This is real. This is very short >> on one of the links right now you can pull up you could pull up housing affordability >> and and we can see it plain as day the the annual income now required to buy a home is over $100,000.
29:22>> Then it was if you have a full-time job, you're not driving a fully financed Mustang and you've made some payments and kept your credit score up, I can probably get you into a house. And [clears throat] I loved that because I was able to take people who did not have a college degree, that were serving in the military and got out like I did and get them started in asset accumulation because I learned very early on, >> we are in a debt based society, inflation has to persist and inflation is going to cause assets to go up. So if I can get you into a home, you get some dirt, you got a mortgage payment you can
29:54afford, you're going to start growing in your net worth. And I I know a lot of the people I sold to back in 2017 2018 are like, "Hell yeah, I got a house.
30:01Sweet." Yeah.
30:02>> Yeah. But now it's not the same at all.
30:04>> Did you think about that back then? You just said something interesting there.
30:07You're like, we're in a debt based society cuz inflation has to exist. Did when you're at the beginning of your career doing this, 23, 24, out of the military now working as a real estate agent. Did you think about what you said out loud there and the fact that, huh, that kind of actually doesn't make sense why the system set up that way?
30:25>> Not that it didn't make sense and not immediately. It was like 3 4 years in.
30:29I'd say about 2019ish. Um, just go because I got curious about the history of it. You know, the housing market really doesn't go in waves because I'd hear that a lot like the housing market goes in waves, ups and downs. It really doesn't. It goes up. The only two times it hasn't is 2008 and 1929. It's the only two times we've ever had a crash.
30:46And both had an abominable just recourse for the working class.
30:53>> The elites and wealthy kept buying everything up when all the prices went down. the uh unemployment rate in the Great Depression was like 25%. Like nothing was good for the working class, they were wearing barrels and trading in seashells and then the elites were buying everything up. And then you look at 2008 when families were getting foreclosures, banks were getting bailed out. You see the same thing just in modern day. So there hasn't really been a correction or crash, especially one that gave opportunity for the next generation. So I do see people that will speculate and say, "Oh, the housing market's going to
31:25crash." Okay. Like what if it does? Is it going to benefit us? What caused that? Is it going to be 10, 15, 20% unemployment? That's not good.
31:35>> No.
31:35>> Is it because AI took all the jobs?
31:36That's not good. There's there's not a lot of lights at the end of the tunnel that I see in housing. That's why I kept yelling, "We need to get you into an asset because this probably isn't going to crash. And if it does, you're going to be really happy you have this."
31:51>> Well, I'm I'm going to round numbers right now because I don't have them in front of me. So just use these as an example. How do you when you see them all out of whack though? How do you say that to people when you see incomes going up I'm just making up numbers. Say an average of 10% while expenses are going up an average of 40% every year and then that trickles up into the houses as well where you also have the largest generation in American history holding on to these things till they die and they're they're just going to retirement now.
32:18>> Yeah.
32:19>> Boomers holding investors buying up any affordable house that hits the market.
32:22They're buying up whole communities. And it's not just Blackstone and these private equity firms. It's also normal mom and pops, people that want 10 Airbnbs.
32:30It's a huge problem. That's why I got out of just like making Tik Toks to sell homes because it no longer became a do these five steps and you'll own a home.
32:39>> You're like, "Then there's 10 more, buddy."
32:41>> Yeah. I I It's like I got to climb the six foot ladder to get over the 10ft wall and I got over the 10ft wall. I was like, "Yay, now I get to teach other people how to get over the 10 foot wall." And then slowly but surely it was 30t. And now I tell people >> same ladder >> and I tell people it's 30 ft and they're like they need to [ __ ] work hard. I'm like you dick. I watched the ladder not get bigger and the wall has extended.
33:03>> I should have brought John in for this podcast, Joe.
33:06>> The wall is not the the wall is so insurmountable. And they'll hand you the same advice. They'll tell you to work harder. Say put money aside, pull yourself up by the bootstraps. That's right.
33:14>> But it used to be a job allowed you to survive. And if you wanted to work harder and thrive, that was your choice.
33:22If you want to run towards something, Julie, I had the opportunity to wake up and go after something.
33:29>> Yes.
33:29>> Right. When I got my real estate license, it was the first thing, honestly, I was ever good at. I was never really I was a [ __ ] pretty much my whole life. This was the first thing I was really good at and it excited me.
33:40>> Why did it excite you? Cuz you got to help people get dirt and and like I mean that in a good way, like get an asset and change their lives.
33:48>> I think it was h it was somewhere between half of that and half selfish.
33:52It was the other side of I felt like I had some control, some dominion over my life.
33:57>> I knew it was going to require more hours. I knew it was going to require more of me.
34:01>> But something about the future dividend of what I'm going to receive is actually based off what I put into it rather than if I was at a fixed income job. It really didn't give them it didn't matter. Like when I was in the military, they even made fun of people who strove harder for promotion as like tryhards, >> right? when it's like and then I could be a slack off, this person be a tryh hard. If we're the same rank, we make the same money.
34:24>> Yeah.
34:24>> I hated that. And I get that's how that system works. So this part I had that freedom about it, but then it started bleeding into other parts of my life. Uh fitness, you know, how I was eating, um how I was communicating, and then it it drove real estate deals in slowly but surely. But it it did start with I see an opportunity for people to not struggle as heavily. let me get you out of rental. Start building an asset.
34:47Start getting a net worth. And that usually does lead to more uh how could I say like it's the house is like the birthplace of wealth. The sale of a home is a lot of times a somebody's first nest egg of money >> and now people can't get into it. So I I I I struggle with seeing again the light at the end of the tunnel today where at the beginning I saw nothing but light.
35:12>> Why though? You'll own nothing and be happy.
35:14>> Isn't that great?
35:15>> They tell us that.
35:16>> Isn't that great?
35:16>> I felt like that was that just >> Thanks, Larry Frink.
35:21>> Lawrence Dfink.
35:22>> Yeah, we'll talk about him. [snorts] >> Absolutely.
35:25>> But you were doing this for years and you So when when did you start? 2016 >> in real estate.
35:33>> Yeah. No, January 27. 2017. January 2017. Right at the beginning.
35:38>> Almost same difference. Meaning like you got to see the last of the what I'll call the roaring tens, right? Where things were coming back but not for everybody, right? Where the system was already teetering and then co happens and it was the weirdest simultaneous like explosion in the sense that the housing market went off like crazy.
35:58People who already had wealth ended up profiting off it tremendously with the whip roll. A lot of other people lost their jobs or lost their level of job forever in some cases and then housing market and the ability to own the asset went completely away or out of the the potential range for many people coming up be that you know young millennials and now Gen Z and stuff to the point that I've seen you pull up some charts where it's like the average age of the first time homeowners trending towards going to be 40 years old.
36:30>> Already is >> already is right now.
36:31>> Median age is 40 years old. It's median right now as of 2025.
36:34>> So you meaning you got to watch if if the chart of like problem were if if I'm saying problem is a chart going up like this. You started here where it was going up already heavily post financial crisis and then you watch the [ __ ] giant wall form where it goes up like an L.
36:51>> And I only wish I knew at the time what happened in 2008 to understand >> you didn't understand that. No, >> no. To understand the environment we are working in right there of this post could have been seismic crash could have been flipping of the economy that we instead siphoned money through think people like Henry Pollson who was the secretary of the treasury at the time under Bush and of course the Federal Reserve. We congressionally and through the private central bank printed trillions of dollars. Quantitative easing was the way the Fed reserve did it and that was the first time we'd ever
37:21done that.
37:22>> People didn't realize and neither did I that that was invented right then and there. Yes.
37:27>> And then we did it again in when we did it again in that's what forced me to go back into the history.
37:33>> It's like why have we resorted back to this?
37:35>> So you went back and looked at it.
37:36>> Yes.
37:36>> Would you to get into the history like what books did you read or do you remember where that started for you?
37:42>> Um the first one I read was probably the monetary history of the United States.
37:48It was a Milton Friedman book.
37:49>> Oh yeah. Yeah. Yeah. And that opened my eyes to the Federal Reserve, which I was already curious on because I'd learned at a real estate happy hour that the Fed Yeah. It was like in 2022. Yeah. Oh, dude. One of the funnest environments on the planet. A real estate happy hour.
38:02I'm the worst that you know. I'm the worst at those. I'm so bad. [laughter] >> You at a happy hour are bad. I don't believe you.
38:13>> No, I don't want to be there.
38:14>> I think you're the unpaid entertainer. I don't want to be. No, because everyone there wants something, right? You know, everyone wants something. Everyone's got like commission breath and breath.
38:26>> I hate it. I hate it. I hate it.
38:29>> Um, but so I would get there and I would just kind of find my cuz I'm a team leader at the time. So, I like had to show face some of these.
38:35>> Big big swinging dick.
38:36>> No, just he was there. I remember he was there. He didn't do anything memorable, but yeah, he was there.
38:41>> Hey guys, if you haven't already subscribed, please hit that subscribe button. It's a huge huge help. Thank you.
38:46>> Um I just found like the biggest little social circle fit myself into it and they were talking about rates at the time that was controversial and they talked about the Fed. So I said, "Oh yeah, the Federal Reserve's not a uh not a government entity." And I was sitting there thinking to myself like, "Yeah, it is. It's got the word federal right in it." And then I looked it up. I was like, "Oh, it's not." And about a month of research led me in like, "Yeah, let me let me get a book or two. Let me >> Can you explain that to people like why that is and what what you mean when you say it's not?" Because like you said,
39:13it's in the name. Good marketing, by the way.
39:15>> Yeah, it's got the word federal and reserve, but the fact of the matter, it's a private entity that doesn't force any reserves. So, it's it's a terribly named entity. [laughter] It's it's atrocious.
39:25I don't know if we can look it up cuz I don't even know what we'd look up. But in March 2020, because of COVID, do you know what the reser Okay, so quick quiz.
39:33Before CO, do you want to guess how much the Federal Reserve required banks >> Oh.
39:40>> to hold like what's the reserve? It was called the reserve requirement.
39:44>> Oh, I had to learn this back in the day.
39:46>> Yeah, there's So, basically each bank that orchestrates in the in the financial institution that is our central banking, >> they have to hold a certain amount with the Federal Reserve just to basically make sure we have a safety net of liquidity.
39:57>> It's it's like forcing them to have skin in the game in a way. Yes. I don't remember what the what the amount was for the life of me. 5% >> 5% >> 5% co >> 5% of what for people >> 5% of total assets under their management it's my understanding like the actual like capital cash >> so if I have a billion dollars sitting in my bank like as the actual bank that I'm giving $50 million >> yes >> got it okay >> as of March 2020 was reduced to zero >> to zero >> yeah a nice safe number of zero >> well you know what it listen at the end of the day when you have a fire sale you just got to everything's got to go,
40:33right? [laughter] >> You did a garage sale last week.
40:37>> Everything's got to go.
40:38>> Cleared the spot out.
40:39>> That's right. [laughter] >> Listen, this is like 6 months after the late great J died, you know? So, >> yeah, let it all just like the Joker. He just wants to see the world burn. Just [ __ ] make it zero.
40:49>> Let's do it.
40:50>> Everything burns.
40:51>> So, there's it's not federal. It doesn't hold reserves. And it started in 1910 over a 1907 bank panic after JP Morgan bailout the entire country led to a bunch of billionaires meeting on an or millionaires at the time meeting in an island for 10 days. Jackal Island.
41:05>> Oh yeah. In 1913 >> uh 1910 actually. [snorts] And Nelson Aldrich, a senator at the time was the one who took down all the notes. This was a meeting.
41:14>> That's nice of him.
41:14>> Yeah. Super nice. Super nice of a senator to take down all the notes and then took the notes and said to Congress, "This is my plan." And presented it as his. It was called >> Well, that's what you have to do.
41:24>> He does and he made sure of it, too. Cuz you know what he called it?
41:27>> Called it the Nelson Aldrich plant.
41:29>> That's right. Came up with himself.
41:31>> Very sure that he got credit for this.
41:32>> Human nature never changes, including the people who are aspiring to political office.
41:36>> Yes, sir.
41:37>> Do someone else's work, take credit for it.
41:39>> Amen.
41:40>> And then when he officially presented it, I believe in 1912, they launched a committee called the Puho Committee to basic Puho.
41:46>> Pujo Ho P U. And the puho committee was launched to investigate whether all these bank leaders were operating in a money trust and whether or not all of these things that were being passed and all these bank leaders that were seemingly bailing out our country at a whim's notice was there something operating behind the scene. Do they own too much? And they found that about somewhere like 26% of the nation's assets were held with about four different corporations. So they determined >> which were those corporations >> it was JP Morgan >> Carnegie right one of them >> Standard Oil >> Vanderbilt
42:23>> I don't know we should look that up.
42:25Yeah, let's look it up on JP.
42:27>> Yeah, the ones because the puho committee has a full >> So, de who were the four >> four corpse and concentration statistics.
42:34>> Yeah, just ask who those four corpse are right there and it was 26% not 28%.
42:38Sorry.
42:40>> Yeah, the puho committee.
42:42>> I believe it was 180 individual people and then four corporations that they found that about a quarter of the nation's wealth was was held with.
42:50>> That's healthy. That's that's what you want the foundation of a country.
42:53>> It's a lot like what's going on today.
42:54Yeah, I'd say super healthy.
42:55>> What's going on today? I think it's proof that it's always been this way quietly. But yeah, so 42.9% of America's total banking resources held by its 20 largest banks. Furthermore, it found that 180 individuals covering 341 directorships and 112 corporate corporations possessed 22.245 billion in aggregate resources of capitalization. And finally it concluded a system known as banking ethics restricted competition among banks and firms. So JP uh Chase >> is this the seven >> these men their resources is seven banks and trust companies >> aster trust company I think that guy was killed on the Titanic right national
43:40bank of commerce liberty national bank national bank farmers loan and trust company controlled an estimated 2.1 billion >> and it says led by JP Morgan George F Baker and James Stillman >> right >> the whole point of this though uh and you'll see the one name in here that Actually, if you wanted to uh stretch a nice uh bit of yarn, Samuel Undermire and the Rothschilds aren't far apart because he's >> Unmmer.
44:04>> Samuel Unterm to my understanding was a close relationship with Loben Co. And Loben Co. back then was Rothschild. That was the Rothschild arm between them.
44:14>> How was it their arm? Like what did what did they do?
44:17>> Loben Co. Um I'm not going to act like I know specifics on what they do.
44:21Actually, we should look up specifics on what they do.
44:23>> Let's do that while we're here. one in Rome, you know. All right, Lo and Co.
44:28>> Yeah, [snorts] like I said, you got to you got to it's lobe. L O E B.
44:35>> Oh, I was going to yell at Google AI.
44:37That would have been more fun.
44:39>> All right, so LF Rothchild.
44:41>> It's a It's a long piece of yarn from those two.
44:44>> Let's see. The connection between Loe and Rothschild. They typically mean one of two distinct historic American investment banks that were formed by overlapping groups or partnerships. LF Rothschild and Co. and [ __ ] Lobe and Co, which by the way, quick tangent before I read this.
44:57>> Your [ __ ] Rothschild social media video is one of the greatest [ __ ] things I've ever seen where you're just talking to yourself in your car for 10 minutes. Like a schizophrenic. Yes.
45:06>> Yeah. I need someone to take like a man on the street video of you making that video like in the background like when they when they take a picture of like a Tik Tocker doing the dance. [laughter] >> No, I need that not to ever happen. And if and if it happens, I'll know who did it.
45:19>> I'm going to do it. All right. LF Rod and Co. Founded in 1899 by Louisie F.
45:24Rothschild. This brokerage firm originated when Rothschild went into business with Leonard Hawkstater who had previously worked at the firm. Here it is. Albert Lo and Co. Despite the prominent name, Lewis F. Rothschild had no familiar ties to European Rothschild dynasty. That's interesting.
45:39>> So, who's LF? I haven't even heard LF Rochild.
45:41>> [ __ ] Lobe and Co. Founded in ' 67 by Abraham [ __ ] and Solomon Loe. The firm became one of Wall Street's most powerful investment banks in the 19th and early 20th century. The European Rothschild family frequently shared financial power, co-underwrote massive here it is massive railroad expansions and worked closely with [ __ ] Lobe and Co's prominent leader Jacob Schiff. So that's it comes in on the back end.
46:05What's interesting here is there was a documentary series I think they've expanded upon it with different eras now but back in I want to say 2014 2015 the series came out called the men who built America. Did you ever see that?
46:18>> No.
46:18>> So it basically covers the industrial revolution guys. It's like I want to say it was five episodes. One episode was Vanderbilt. The next episode was Carnegie. Another episode was JP Morgan.
46:31Another one was Ford. And then I want to say another one was >> Rockefeller. Maybe >> Edison. Edison.
46:36>> Oh, no. No. Rockefeller was number two.
46:38>> Edison would be the one.
46:39>> No, no, [laughter] no, no. Hold the >> If you had those four to start and the last episode was Edison, I would honestly be locked. I'm like, "Okay, how's this guy?"
46:47>> Yeah. I Edison came into it. He came into it JP Morgan. That's what it was.
46:50Because what the what it would do is it would overlap all these guys. So, the episode would be on Vanderbilt and then the next episode would be on on Rockefeller, but then Vanderbilt would have meetings with Rockefeller because they historically happened. and like it would introduce characters and in a way and it was an amazing series. It was also like inspirational if you're like a young kid in college like me trying to figure out what to do with his life and you're like, "Wow, these guys really figured it all out." And then you realize that it was also the greatest capture in one shot of like one era at
47:20the time of wealth that had ever happened to the point that it created dynasties across what was the top call it three to five major industries that ended up building everything that came in America. That's why it's called the men who built America. and that those types of corrupt institutions that could have been formed by such a powerful few persist today. And I didn't figure that out till later. And then I was like, [ __ ] >> So you watched that before having that realization?
47:46>> Oh yeah. I was in college. I was like smoking weed and watching like wow this is cool. Rockeill rocks. [laughter] >> But I remember me and my buddy Meat would just like watch that when we were hung over.
47:57>> You see your buddy meat?
47:58>> Yeah.
47:58>> Meat.
47:58>> Yeah. No meats. Meat's different >> like ground beef.
48:01>> Yeah. Like like ground beef. So my my friends in college, they were all O lineman and D lineman. And my one friend Dylan the first day >> of camp freshman year saw Dan, our buddy, and he goes, "You look like a big piece of [ __ ] meat. Call you meat." I don't know. It was a huge pause at the time. But the reason was meat was about 6 foot, 5'11, 285. He squatted 750 lbs with dip in his mouth and a cigarette hanging out the other. He was the one that wasn't like all of us. He was like a [ __ ] redneck from Maryland and the most athletic white individual I have ever seen in my [ __ ] life. Like did could do like
48:43pound-for-pound the strongest dude I have ever seen in my life. But funny [ __ ] But yeah, we called him and to this day he's just [ __ ] meat.
48:51>> Yeah, >> I should have put more respect on his name.
48:53>> Actually, there's a there's a Dead Spin article. De, can you type in Bucknell football team funniest pictures? So summer before senior year, he's been playing Dline and O line for 3 years.
49:05And four weeks before camp, they call him up and they say, "Meet, can you play fullback? We need you to draw go down from 285 to 260 in 3 weeks." He does it.
49:15And then if we go there he is, Daniel Mcmanis. So So it was like he was a 6 foot 260b fullback. The greatest fullback I've ever seen in my life, by the way. And the comments on this [ __ ] were just like a 6 foot 260lb fullback. What the [ __ ] are they giving [laughter] these kids out there? They ran like a [ __ ] 4640.
49:36It was insane.
49:36>> What? Dude, after college, he came to live with me up in North Jersey and we took him into into the gym, which was like this powerlifting and boxing gym.
49:45And he was way out of shape. He was maybe like 305 at the time. He was he box jumped 49 in the first day.
49:51>> And the [ __ ] guy who runs the gym was dude, it's he's not human. I've never seen anything like that.
49:55>> Watching big individuals act mad athletic is the most impressive thing.
49:58>> It's unbelievable. And he would get like like he's the kind of guy that would come in and just like [ __ ] you know, clean weight that you shouldn't be doing right away, like out of form and just throw it down and like look at people and yell at him. He's one of those.
50:11>> Hell yeah.
50:11>> He's one of those. Hell yeah.
50:12>> Hell yeah. Hell yeah.
50:13>> But yeah, so we we were sitting there, we would watch this. This would be like our our hangover watch on like Saturday morning before we'd like take like inward amount of pre-workout to go work out and then go out and do it all over again. But we were like, "Wow, this shit's awesome." These leaders OF INDUSTRY, [laughter] WE COULD BE LIKE THEM ONE DAY. If we work hard enough, we could be like them one day. [laughter] >> And now he's building like off the reservation like self-sufficient housing for himself and [ __ ] >> That's what it's about. See, if we all got there, started doing a little friend
50:44communities, started gardening with each other. This person does the contracting.
50:49>> That's right.
50:49>> Here's our plumber. I want that.
50:51>> That's right. Almost like a kabutz. And [snorts] they kind of figured that out, right?
50:55>> A little bit.
50:55>> A little bit.
50:56>> Little bit.
50:56>> Yeah, they they got that part right.
50:58[laughter] >> But anyway, how do we get on that tangent with the [ __ ] with Lo and Rock? Oh, you're talking about 1913.
51:04>> 1913. Yeah, because that created the central bank uh that still orchestrates our monetary policy today. Uh Milton Friedman in that book I mentioned earlier uh monetary or history of the United [snorts] States would say the Federal Reserve was one of the main reasons the Great Depression happened.
51:21>> Now what was his logic there? And >> his logic was they're put in place to be able to create money when needed as a bank of last resort.
51:31>> Yes. and a humongous bank uh in New York, I believe the largest at the time, fell and they could have saved it and [snorts] they could have saved the multitude of hundreds of banks that fell then afterwards. It was also this thing where it was it was kind of and this is another thing that's alluded to in a book called 1929, a really good book that >> is that Andrew Rosskin.
51:53>> Yes.
51:53>> Yeah, >> it's a really good book.
51:54>> Actually, can we make a note of that? I want to get Andrew in you 100%.
51:57>> Really good book.
51:57>> Yeah.
51:59>> Send them my thanks. Yeah, he wrote he wrote the the Too Big to Fail, too. Yes.
52:03And like >> this was a 1929. This was a second book, I believe, or a second big one cuz I Yeah, >> the Federal Reserve Bank kind of had this little bit of an ego battle with the speculators of Wall Street, too, that they both argue in their books may have just kind of misguided them a bit in trying to be the boss of the financial world when in reality they're there to serve the greater populace and make sure that our economy can continue to thrive.
52:33And we saw that the speculation inevitably led to the Great Depression, but then that the Federal Reserve could have minimized or even alleviated the Great Depression from happening was Milton Friedman's argument. People will say, >> why didn't they what did Milton say?
52:49>> Milton in the book doesn't allude to a motive [snorts] to my understand or at least I didn't glean one when I read it.
52:55Maybe people will have their takes of like he he leaned one way or the next. I didn't glean a motive that he would pull out of it because some people will read it and take away like, oh, he said that they absolutely allowed it. I read it as they saw it and kind of just didn't do anything. Um, they didn't take action when they should have taken action. And maybe it was a hindsight thing that they didn't take that action. Maybe it's because this was the first big economic crisis that the Federal Reserve would face. You know, this is the first time we've had a stock market bubble in our country. There
53:25there's a lot of firsts going on. So little bit of seed of doubt but in I think it was 2003 2002 or 2003 Ben Bernaki is giving a speech would go on to be the central bank federal chairman >> during the global financial >> during the global financial crisis.
53:43Yeah. Served with Kevin Worsh our current guy.
53:45>> Yeah.
53:46>> He would speak at [snorts] Milton Freriedman's I think it was his 95th birthday just real old. And at the end of his speech, in fact, we could probably pull it up so I don't misquote it.
53:59>> Oh, yeah. Let's We have this speech on video.
54:02>> It's not on video, but we have the full transcript.
54:05>> Okay.
54:05>> Ben Bernaki. Yeah. Um, look up Ben Bernaki's speech, Milton Freriedman birthday.
54:12>> Okay. He's He'll get it. But at the end of his speech, what's he's what's he alluding to?
54:17>> He alludes or he doesn't even allude to he says uh in Milton and to you regarding the Great Depression, you're right. We did it. We're very sorry, but thanks to you, we won't do it again.
54:29[snorts] >> That's great.
54:34>> Can I double label those, >> please? Please. I love a devil >> because I don't have the context here. I want to believe >> that's the end of the full speech. It's on the Federal Reserve website. You can pull that link up right there.
54:44>> I want to believe he fully said that because he's in the middle of a lot of [ __ ] What I'm wondering is if this is like a birthday speech and he's like saying it as a joke to >> maybe and it was 90th birthday.
54:56>> Yeah, it's all the way.
54:57>> I like giving any of these people the benefit of the doubt at this point.
55:00>> That's the full speech. Yep. And then go down.
55:04>> I think it's the second paragraph and conclusion.
55:06>> Okay. For practical central bankers among which I now count myself, Freriedman and Schwarz's analysis leaves many lessons. All right. So he's being serious. What I take from their work is that the monetary forces particularly if unleashed in a destabilizing direction can be extremely powerful. The best thing this that central bankers can do for the world is to avoid such crisis by providing the economy with in Milton Friedman's word stable monetary background. For example, as as reflected in low and stable inflation.
55:34>> Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna regarding the Great Depression, you're right. We did it. We're very sorry, but thanks to you, we won't do it again. Best wishes for the next 90 years. So, that could be like telling a joke at the end that's wrapped in a truth and he's like, "Yeah, we did do it." Or it could be he's like >> being funny like to to be there.
56:02>> I can see being a joke.
56:03>> The interesting thing about Ben Bernani, though, >> I really it's now I'm going to be doing a deep dive on him again. And I did this years ago, but he actually a a big part of his career was he studied the [ __ ] out of the Great Depression and like how all that thing happened. And then ironically he was at the helm when everything went down. But you wonder if that's like a little wink wink wrapped in truth there.
56:29>> It could be.
56:29>> You know, the the >> I guess we'll never know.
56:31>> We'll never know. The conspiracies go wild for 2008 because it was seemingly something that was avoidable. We ripped out glass deagall in 1999 that was keeping banks from being whatever the hell they wanted.
56:43>> Glass [snorts] deagall instituted in 1933 in the Great New Deal allowed banks to give mortgages, do insurance, be an investment, do it all.
56:50>> And then there was a margin rule change by the SEC in 2004 >> that allowed these big banks to now invest with a larger amount of margin.
56:59>> Yeah. I think what if I'm it's been a while. I think with the glass steagle what it opened up the door for was being able to proprietary do proprietary trading with bank assets that they previously wouldn't have been able to which they then did at margin across assets they held to go speculate and it got riskier and riskier and riskier and then I think you're right it expanded beyond that with a couple of the other ones but when you look at Clinton's presidency the the two two of the biggest mistakes he made were the 94 crime bill which was a bipartisan thing as well as a mistake the whole government made and Glasssteagall was
57:31the other big one cuz that opened the door for what became the financial crisis for sure.
57:36>> Now, I thought you were going to say NAFTA as the second biggest one. Why the crime bill? You know, I'm not familiar with that one.
57:41>> NAFTA >> cuz NAFTA for those not that's the Northern American Free Trade Agreement.
57:49That's right.
57:49>> Allow jobs to go to Mexico, Canada.
57:51That's right.
57:51>> Predominantly Mexico, >> which I I think on the surface certainly has some disaster written on it. [sighs] >> [gasps] >> I'm not the guy to make the commentary on that. There's probably people in the comments sections who are well more qualified to do that. We'll probably >> Some are going to bring up like the AT&T communications bill, too. That was 95.
58:07That was like, >> what was that bill?
58:09>> It was more a bill that allowed for monopolistic tendencies. Uh, we can look it up and read the specifics.
58:15>> I know uh Tiffany Ciance will quote the AT&T communications bill all the time.
58:21>> AT&T and communications bill.
58:22>> It should have been 95 if I'm remembering that one correctly.
58:25>> All right, we got it. So the telecommunications act of 1995 was a sweeping legislative effort that set the stage for modern telecommunications. While introduced and heavily debated throughout the 1995, it ultimately passed and was signed into law in 1996.
58:40So the core goals of the bill primary objective of the legislation was to foster competition, reduce government regulation. Key elements included, let's go down, market integration, allowing long-distance carriers like AT&T, local phone companies, and cable operators to compete in each other's markets.
58:55deregulation, removing federal controls on cable TV pricing.
59:00>> To my understanding, the reason that this was controversial is because AT&T figured out if they could break themselves into three different companies but still manage those three companies that they'll bypass the law.
59:10Is it's my understanding of it.
59:12>> Yeah. If you're looking on September 21st, 1995, AT&T announced it would voluntarily break itself into three independent companies. Communication wireless equipment manufacturing and computers.
59:22>> They said voluntarily.
59:24>> Yeah. We investigated ourselves and here's what we're going to do.
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