Paradigm Shift Episode 6: Government Corruption & Iran Updates

Big Rob & Jesse Discuss the latest News coming out of Iran & the U.S

Also Corruption throughout the Gov, Congress, The economy and much more

Transcript

SPEAKER_03 0:00

Welcome back to another episode of the Paradigm Shift, guys. Uh, I am your host, Big Rob, alongside my partner of crime, Jesse. What's going on, buddy?

SPEAKER_02 0:10

Doing great, buddy. Back for another thirsty Thursday. Gonna be uh going down the rabbit hole, throwing it back with some hot takes. Uh ready to go.

SPEAKER_03 0:20

Yeah, let's make let's offend some people. Let's get going here. Topic today is government corruption. That's what we're gonna be diving into. And my goodness, you could do a million episodes on this alone, man. You know, we kind of touched on it a little bit in the uh in the COVID episode that we did. Uh, but uh we got other kind of other angles that I kind of wanted to discuss. Now, I guess we should kick things off with the latest with Iran and the Strait of Harmoose and what's going on with that. I mean, Trump comes out, he says we have um we have an agreement in place, and then two days later we don't have an agreement in place, markets respond positively, and then markets respond negatively. So if you're a trader, it's a dream come true. But outside of that, right, or a nightmare if you're terrible at reading, you know, the macro. But what do you think, man? What's the latest that you've been uh seeing in terms of the uh Iran situation and the strait of harmoofs?

SPEAKER_02 1:22

So, first off, uh I mean, I think you you kind of hit the nail on the head there, the market, right? Let's talk about the market angle of this because every time that Trump either, you know, he he kind of gaslights way left or way right, one way or the other. And it seems that there always just happens to be one or two traders that make a ton of money every time he does this. And I don't know if if you're seeing this like I'm seeing it, but there appears to be some significant insider trading going on. At least the outside it looks that way, right?

SPEAKER_03 2:03

We have yeah, we have seen that. We've seen uh uh shortly before, a lot of times hours before he makes an announcement or a press conference. Uh, there seems to be specific wallet addresses that are putting in either massive long positions or massive short positions based on the news that he is putting out there. And I mean, if you want to get technical about it, he's not doing anything wrong because there's no law with crypto yet, right? There should be, I'm not saying on a moral or ethical level, that this isn't, you know, I mean, this the previous crypto cycle as a whole, the only one who really made any money was Trump and his family, right?

SPEAKER_02 2:50

Correct, correct, yeah. And you know, the thing is, is every time you're realizing a gain or taking a profit, someone else is at a loss. So there's equally somebody else on the other side of this thing when this magical trader just happens to know when the big news is gonna drop, right? And you know, we've seen this a lot lately with the uh prediction markets, and you know, I've been I know there's been a lot of uh buzz around the prediction markets and kind of how it really is this sort of new wild west, and how this I would say it's it's kind of a gambling culture is sort of becoming more pervasive into today's world, right? And um, yeah, you know, it's it's interesting. I I know I heard something on the radio the other day, somebody did a piece on like polymarket and calci and kind of how you know that there's a reason they have a ton of money because there's a lot of people losing money um that are betting, and they know that you know it's it's kind of like uh like a lot of people I think at FOMO with this stuff, where if they're not in on it, they kind of want to be in on it and they go, Oh god, you know, I could have I could have done that or I could have made that deal. And I I totally get that. Um, but I I think the part about just how do you have one person or two people that just makes a you know it it's they're way outside of the normal sphere of people. Like if you were looking at this on like a plot chart, all the dots would be clustered together, and then there's an outlier that's way the hell up here who's making all the money, you know.

SPEAKER_03 4:33

Well, something I noticed this morning uh when I was doing the more morning market overview was uh somebody like uh it was about a $20 million short on Ethereum or long, sorry, put in yesterday on Ethereum, put in last night. And I mean, as you've seen with the price of Ethereum this morning, didn't go so well, it got liquidated for $20 million, right? Like, I don't know who's doing that stuff, that's absolutely insane. But uh that that kind of makes me what you're saying kind of makes me think about uh like the degenerates and stuff like that. You know, I I used to have the perspective, and I think I've talked about this with you before, uh, the whole accredited investor program. I used to think it was a load of malarkey, right? That it was just uh the riches, the rich people's way of making sure that they get to you know corner the market, they get to get in early on stocks and stuff like that, and then you as a as a retail investor, as a non-accredited investor, you get to buy their bags when when the public when the company goes public and they want to sell, right? And I thought, what a scam, what a scam. And the reason that they said that this was the case was because they said the average retail investor was not mentally and emotionally mature enough to handle the volatility of pre-IPO stocks. And I thought, oh BS, and then I got into crypto. Now I wholeheartedly agree that the average retail investor is most definitely not mentally and emotionally mature enough. Uh, a lot of people treat it like gambling, right? Uh, they they come into it, they get indoctrinated somehow into expecting that they're gonna get rich in a month or two, and you know, they don't understand that you know you're supposed the same way you would handle investing in a company in the stock market, you're supposed to do your research on the company, you're supposed to uh you know invest in whatever you know crypto or stock you want, and you're supposed to allow time for your investment to mature. It's really just that simple. But this this generation of and I think a big part of it is the the combination of social media meets investing, created a whirlwind effect of idiocracy, right? Like the the behaviors that you see, people will make these large proclamations without zero research into what they're talking about at all, all over uh all over X, all over YouTube, and sometimes you read things and you just you sit back and you're just like, Mike, did you not even read anything about what you're talking about? Like nothing, you know, you're just in an eco chamber and then you just decide to repeat it because whoever you're following is doing you no favors optically right now, right? Right, right. But that is a big and I you know, as much as I hate to say it, you almost think that maybe they do need an accredited investor program put into the crypto market to keep these people from putting, you know, taking out loans against their houses and stuff like that to buy in, you know, a meme coin, right?

SPEAKER_02 7:51

Yeah, and and that that's a regular occurrence that people do things like that. It's kind of crazy. I think I think your average crypto investor doesn't know or maybe maybe just doesn't really have a good concept or feel for what's going on behind the curtain, also, right? Like a lot of crypto exchanges are sort of based in tax havens around the world, they're in the Seychelles, you know, they're in Gibraltar, they're kind of in these oddball places that kind of keeps them uh free from most oversight, you know, like Binance. Uh where's the headquarters of Binance?

SPEAKER_03 8:35

I believe it's I think it's isn't it in the Philippines or something? I don't even know. Couldn't tell you. I don't know. The Philippines, right?

SPEAKER_02 8:44

And you know, in and I can see where they can sort of argue on the other side and they go, oh, we're decentralized, we're all over the world. Yeah, but at the same time, you're kind of avoiding accountability. And my point about what's going on behind the curtain is that every one of these exchanges also has most of them have some sort of quant firm that's trading. And so, again, kind of going back to what I was saying earlier, uh, every time that they uh, you know, yoke the market and all of a sudden it goes straight up or straight down, uh, somebody's bags, everything just got juiced, you know, because you were leveraged long or short. And who is actually making the money when you're liquidated? It's the exchange.

SPEAKER_03 9:31

Yeah, October 10th, 31.

SPEAKER_02 9:34

Yeah, I I mean it happens non-stop. And and you know, the other thing too is these quant firms, I mean, you know, they're trading uh the Flashboys style, you know, so it's it's uh that a millisecond bot trading. It's not even necessarily a person, but but that's who's making money here on that thing is the the same exchange you're using. It may not be that exchange, right? Like if I'm using, let's say, Coinbase, it it's not necessarily Coinbase's quant firm that's that's yoking this thing. It could be Binance or it could be you know gate or or somebody else, whoever it is, you know.

SPEAKER_03 10:12

We need we definitely need laws in place that the exchanges cannot bet against their own customers. Like that's first and foremost, right? Yeah, absolutely. Because then all of a sudden you see, you know, you see all these customers over on Binance for those who don't really kind of get it. You know, you'll get a bunch of people over on Binance who are putting in uh longs on on Bitcoin, for example, right? And the longs will pile up like eight million, eight billion dollars worth of longs, and then Binance will short it, and then they'll go and sell a massive chunk of Bitcoin to crash the price, and then the price goes down, so all their customers get liquidated, and then they make all that money. Essentially, to me, it's nothing short of theft.

SPEAKER_02 10:56

Yeah, yeah, I think I think there's some some shadiness. And I I saw, I don't know if you saw this headline, I think it was today, where they said uh it was like Bhutan or or some random country had been uh liquidating Bitcoin holdings, and so they're saying, like, yeah, that's been dragging down the market, right? Um anyway, yeah, there's there's some shadiness. So, anyhow, going back to Tyran, you got something you want to say there? I can tell you do.

SPEAKER_03 11:29

Oh no, no, no, no, no. I'm just my cat's irritating me because she's up against my microcond.

SPEAKER_02 11:35

Hey, maybe the cat wants to talk.

SPEAKER_03 11:37

Okay, she's got a bone to pick. Yeah.

SPEAKER_02 11:42

Hey, funny story. When I worked in the corporate world, um, we had a guy on our floor at one point, he was a contractor, and he had a service animal, right? And the service animal was a uh collie named Rosie. And so on our particular floor, it was kind of like an oval where, you know, at some point in the afternoon, people would sort of want some exercise and they'd just randomly be walking around the floor. And this guy would walk past my office with his his service dog, you know, and the dog sort of had like a leash with, but he was never holding it, right? Like he was never holding like the strap. It was sort of dragging behind the dog with like this weird rubber weight. And the funny thing was, is he would always walk by first and I'd look at him and I'd think, hate that guy. God, he's annoying. And then Rosie would walk by and I'd see the dog and I'd go, Hey, hey, Rosie, Rosie, come here, come here, Rosie. And I'd I'd hear him go, God damn it, Rosie, come on, let's go, you know, because Rosie would stop and look at me and like, like, hey, do I get to be a dog? And I'd be like, Yeah, come in here and be a dog. Let's have fun. You know, and Rosie would look at me and then he'd get mad at the dog, and he'd pick up the thing and yank Rosie away.

SPEAKER_03 13:03

Disobedient dog.

SPEAKER_02 13:04

Yeah, so so anyway, I what I was getting at with that was I used to joke that we should uh let Rosie do his job because the dog was probably more more adept than he was at the actual function that he was there for.

SPEAKER_03 13:19

Yeah, speaking of dysfunctional. So what what is your what is your latest thoughts on uh on this whole thing? Do you do you think that Trump is full of it with this whole thing we have an agreement in place? Are they talking or is he just saying that to save face? Um or is Iran kind of full of it a little bit here and that they are because Trump says in his words that they're begging for some sort of deal to be made here, right? He used the word begging, right?

SPEAKER_02 13:50

Well, I think truthfully that um Pete Hagseth, who I like to refer to as Cavalier Pete, because he he's just he goes in guns blazing without any forethought. I think if you talk to any generals, they would have told you all the different reasons why attacking Iran is a terrible idea, okay? One of which being that straight, okay, the choke point, right? Now, the other part about this is I mean, we act we act so surprised that they have drones, but they've been flying these same drones in Ukraine for over three years now, and that and they just crank them out at will. I mean, the drones don't cost shit, they're 40 grand a piece, right? So the idea that they have these drones and they're just gonna fly them into all the infrastructure of all of the surrounding Gulf states, who ironically have been our allies uh for all this time because of our protection, right? But the interesting thing is we we honestly can't protect them right now because the the war has changed, you know, it's moved to these cheap drones and this missile with the warhead that breaks up, and so we we can't protect them. Iran, Iran has turned around and said, All right, um, you attack us, we're just gonna attack every one of these people. We're blowing up their water plants. Water. You know, I'm I mean again, like you blow up their water, how how do all these millions of people survive? They don't, yeah.

SPEAKER_03 15:24

Yeah, that's that's like their priority.

SPEAKER_02 15:26

Yes, and and and even France um came out, I I think it was today, and said 30 to 40 percent of all Gulf oil infrastructure has been destroyed. That is insane. Yeah, um and and and why? Like, like I you know, I I get it that I get it that this this country is kind of like a thorn in in the side, right? I I get it. But you know, like the thing with uh Hemeni, he was 86. The dude was like on death's door, you know, like uh did did we have to do this? Or or or again, if you wanted to do like the Maduro type thing, like yeah, we we swatted them and left. Okay, but you didn't do that, and and and you keep you keep instigating and keep attacking. And so the point is is that it's a trap, just just like Epstein's a trap that Trump fell for, and he's all over the Epstein files. This thing is a trap, and Hegeth fell for it, and he went in guns blazing, and now what's the exit? And and the weird thing, like with Iran, is um I saw this mentioned, like who's in control? No one knows. Like, I I couldn't tell you, I have no idea who's running that country, right? Somebody obviously is. Maybe it's just their military.

SPEAKER_03 16:51

Well, they're smart not to tell you right now.

SPEAKER_02 16:54

Yeah, no one knows. And whoever, if they said, hey, Bob's the guy, well, you know, guess what? Now there's a missile going to Bob's house. So they're not gonna tell you it's Bob, right?

SPEAKER_03 17:03

Better hide, Bob.

SPEAKER_02 17:05

Right, right. And and so, like the the thing with Trump is you know, a lot of things in his second presidency have been completely off the rails because there's no guardrails of the people around him this time around. There's there's all these enablers, and so the ironically, the I think the things that he could have held on to is two things. One was gas was low, it was cheap, right? And and we talked about this in another episode where he publicly said to the all of the gas stations, you better not raise the price, I'm watching you. And they've they've kept it low ever since. And I would argue he's done a great job at gas prices, right? Yeah, and and so he he had that feather, um, and and now he just sort of completely uh just blew that thing uh out of the water. I mean, you know, what what are you thinking? And then he also he wanted to be the president of no new wars, and he literally started a war. And and he's kind of gone back and forth the last couple days where he's like, Yeah, it was Heg Seth, or it was Jared, or you know, one of them did it. I don't really know, you know. Uh I'm not sure I'm not really sure. You know, the the reason behind why we're there has changed like at least 10 times. You don't really know like like what's the goal, what's the objective? What do we what are we even still doing?

SPEAKER_03 18:31

We never really are told that ever, right?

SPEAKER_02 18:34

No, no matter no matter where they are, but supposedly a lot of this has to do with Israel, because Israel was like, hey, you know, we've already bombed the shit out of Palestine, we're done there. That's just a dust bowl. They're like, okay, we're going after Lebanon, okay, great. And by the way, we're going after Iran. And every other U.S. president, including Trump in his first term, said, I don't think we want to do that. But this time around, we got Cavalier Pete that's like, yeah, let's do it. And now everybody's just kind of like, what are we doing? Like, you know, they supposedly just deployed 7,000 troops over there. What the hell are they gonna do? What's the point of that? I I again I keep going back to these cheap drones that if I can fly a cheap drone into your uh into all your troops, all your troops are gonna die. Like, you know, the uh I don't know if if you follow the kill numbers out of Ukraine, but no Ukraine has killed something like 1.2 million Russian soldiers.

SPEAKER_03 19:37

Wow.

SPEAKER_02 19:37

And in not even what is it, four years? 1.2 million. Like, like this is more than most of all of the wars any of our countries have ever been in combined. Okay, and and it's because of cheap drones, and that's exactly what Iran's using is cheap drones.

SPEAKER_03 19:57

So that could be that could spell bad news for uh American soldiers that they're just dropping off there right now.

SPEAKER_02 20:03

Like, yeah, yeah. It it it really, you know, if you think about war, not in terms of bodies or equipment, but in just like the economies of scale, the cheap drone is the way to go, or the robot, the robot war, you know, like the Terminator type deal, you know, like people and and I mean, just this old way that we've always done it, it everything's changed. And now we're now we're kind of having to deal with that, you know.

SPEAKER_03 20:32

Yeah, well, I mean, Trump has always kind of been this egocentric, obviously, kind of person, right? And and I'm not anti-Trump by any stretch of the imagination. I'm a lot like you, where it's some things he does and says I like, some things he does and says I don't like, right? And I I think it's uh an Achilles heel of his ego, uh, obviously, because you know he he says a lot of things that uh either are obviously not necessarily true or a half truth or something. And uh it's like I discussed this with you before. Uh take take the uh the markets, the stock market and precious metals, right? And how uh in his last uh State of the Union address, he talked about how this presidency he's got you know fantastic the stock his stock market has been doing absolutely phenomenal. Uh gold and silver have been doing absolutely phenomenal, and that's what I mean. That's kind of a half-truth because they have, but they've been doing really, really well for about a year and a half now. Uh, you know, which started about you know six to eight months before uh Trump became president back in the Biden administration. They were they were doing well then, but he's taking credit for it now. And as much as I don't like giving the Biden administration credit for anything, you you gotta call it down the middle and say, whoa, whoa, whoa, whoa. Whoa, right, uh, and another and it reminds me of something else that that Trump had said before is that um the the the new administration usually inherits the results of of what the previous administration did, right? So a lot of times if you have a really, really good administration, they do really, really good things, a lot of times you don't start to see a lot of the results of the things they did, either in the economy or whatever, into the next president's administration, and then it's like, oh, look what I've been doing, right? And it's like, well, no, but the same can be said on the downside of that, right? If the last administration was absolutely awful, well, the new administration starts to feel that those effects too when they come in. Uh, so he's all he, you know, so he's okay with taking credit, you know, of something that bleeds through from the previous administration, but nothing negative. Never, never.

SPEAKER_02 23:00

Never, nothing negative. Well, you know, that that's why he he's never admitted that he lost 2020. He can't do it publicly, he won't do it ever, period. It it just is what it is. He he takes credit for the good things and he he pushes off the bad things, and he always blames Biden. That's his his person to blame on literally everything, regardless of whatever it was.

SPEAKER_03 23:23

Sleepy Joe, yeah. Yeah, and I mean, in a lot of cases, he's not wrong. I mean, the Biden administration was god awful. They were awful. Yeah, I I've never seen anything as absurd in my life. I never dreamed I would see a a apparently the you know, a world, a global superpower in the United States being led by someone who is falling asleep at the podium. I mean, it's it's a meme, half of the things that Biden was saying. Because it's just a bunch of nonsensical mumbo jumbo that he just goes up there and he's just they ask him a question, it's like, you know, what do you think about the state of the market? It's like, yeah, well, you know, a blue hat when I went fishing, and you know, it's like, what the hell are you talking about? That was him, and it was absolutely absurd to me that people were coming out and saying, Oh, he's he's in peak condition mentally, right?

SPEAKER_02 24:16

Well, you saw when when Trump came out and he said uh he gave you his physical stats, and it was like he would have had the physique of Chris Hemsworth, and everybody was like, dude, seriously, come on now, you know.

SPEAKER_03 24:32

Yeah, he had like he was bragging about his golf swing or something. I don't know. It's crazy.

SPEAKER_02 24:38

Yeah.

SPEAKER_03 24:39

But I mean, go ahead.

SPEAKER_02 24:42

No, I was gonna say, even now though, I mean, the the irony in in all the sleepy Joe stuff is Trump falls asleep all the time. He falls asleep in cabinet meetings, he falls asleep in the Oval Office, and you know why he falls asleep? Because he's near 80 years old. This is what you do when you're 80, you fall asleep in the afternoon randomly, you know. This is why anybody over 65 shouldn't even be in the government, you know.

SPEAKER_03 25:08

Well, that's another interesting thing. Like Congress, for example, why do we allow, and I say we allow because as a people, we do allow this to continue, right? Uh, they've got us, they've got citizens so busy arguing with each other that politicians just do whatever they want and laugh about it, right? They've got people fighting racism where there is none. They've got people, you know, they've they've that's what they do. They they pin demographics against each other so that that's what we talk about, right? Yeah, and they've they've got the press on board and stuff like that, and it's it's at a it's at a point where it's like you have to look and say, why do we allow this to continue? Right? Like, why are people in Congress, Congressmen, Congresswoman, why are they allowed to just stay there till they die?

SPEAKER_02 26:07

That's that's a great question. Why do people keep voting for them? You know, and and it's again, this isn't a uh blue issue, this is across the board. I mean, you know, like on the on the democratic side, like a Pelosi, uh, uh Chuck Schumer, on the Republican side, Lindsey Graham, my god, like this guy's been awful for like 20 years. He still gets re-elected every time, every time he's re-elected. Um, Schumer, nobody likes Schumer, absolutely no one likes that guy, and he gets re-elected every single time, you know.

SPEAKER_03 26:45

Well, I've always been of the belief that if you're a politician, your job should be no different than anyone else's. There should be a backup and a redundancy backup for your backup. And what I mean by that is, for example, if you get voted in and you start doing the opposite of what you what you said you were going to do, which is why people voted for you, you should be fired immediately. There shouldn't be uh, well, I'm here, suckers, you can't get rid of me now, right? There shouldn't be some uh extremely impossible process to get to weed them out and stuff like that. It should be very simple. This is what you said, Elizabeth Warren. She initially got voted into Congress because she was gonna fight the banks, right? Yeah, the last bill she introduced was written for her by the banks. There you go, fired, right?

SPEAKER_04 27:40

Yeah, yeah.

SPEAKER_03 27:41

Like, how do you I just I don't understand it? And the and like we said, the the fact that some of these people, Maxine Waters, how old is this woman? Right, really old, really, really old. Like, and and the when you talk about stuff like the the crypto bills that were going through the house and stuff like that, right? Is it any shock that the the the young half of of the of the voters, right, were all voting for these bills, and the old the older people were voting against it, right? It's because you get old, you get set in your ways, you think that what's happen what you know the system that's in place works, why change it if it ain't broke? I don't want to learn this new technology. I'm 80 years old, right? I don't want to bother. It sounds what so if you put all this stuff on blockchain, people can see it can all be tracked where my money's coming from and who's sponsoring me and who's funding me and stuff. No, thank you, right? What if you put the voting mechanism on blockchain? It can't be altered, changed, cheated, or anything like that. It has to be 100% transparent. No, thank you, right? Right? They don't want that stuff, they don't want transparency, they want transparency for you when it comes to your taxes and stuff like that. They want to know what you make, they don't want you to know what they make. There's no way somebody like Elizabeth Warren, who makes like 200k a year but is worth like 25 million dollars, there's no way she wants you to know how that happened, right?

SPEAKER_02 29:15

Right, right. And and that happens across the board, very true. And none of them should be able to trade and and do that the way they do. You know what I think's really interesting, you know, kind of on this this topic, is I don't know if you saw like before the election, Coinbase um in particular, and and you know, Brian Armstrong, very smart, came up with a strategy, and the strategy was okay, we're gonna get a really good attorney, we're gonna come up with a legal strategy, we're gonna come up with a lobbying strategy. We realized we had no lobby in crypto and we really need one. And you know, you could sign up on Coinbase and be part of it, and you'll get the updates, and yeah, tell your congressman and this and that and whatever, right? And what's really interesting is that I think a lot of what they've done, it it hasn't always gotten the results they wanted, right? Like the crypto industry, because again, you know, Kamala Harris was completely tone deaf to crypto. She didn't she didn't even extend a single olive branch, she literally lost everybody in crypto, right? Whereas Trump Trump did when ironically Trump term one didn't give a fuck about crypto. He never has. He's even publicly said he thinks Bitcoin's a scam, right? He didn't care term one at all. Term two, when he was trying to avoid jail, he actually was full-blown, hey, let's let's do this crypto thing, right? And at the same time, you know, Don and Eric are over there wanting to do their world coin financial, right? But the interesting thing is so Coinbase gets behind him to to, yeah, this is our crypto guy. We're gonna make it happen. And and and you know, arguably, I mean, he did sort of agree to a few things, like he said, hey, we're gonna have a Bitcoin reserve. Where the hell is it? Kind of like most things with with in the Trump presidency this time, where the hell is it? Show me the money.

SPEAKER_03 31:19

Yeah, his flip-flop on that, from my understanding, is uh he promised a Bitcoin reserve, right? A crypto sorry, a crypto reserve to so that I can make sure I'm offending the Bitcoin maxis out there. Uh he actually said a crypto reserve, right? Not a Bitcoin reserve. Uh so then people were expecting, okay, so the government's gonna start purchasing crypto and putting it into this treasury, right? No, then he flip-flopped and said, Well, we're not gonna use taxpayer money to buy crypto and put it in our treasury. What we're going to do is just when we seize crypto in illicit activity, we'll put that crypto into the treasury. Well, how much is that gonna be? And how often is that gonna happen, right? Who knows? Not anywhere in anywhere near enough for it to be a big deal when you've got these other countries who are actively purchasing Bitcoin and stuff like that.

SPEAKER_02 32:11

Right, right. Yeah, so so with Coinbase, they they basically put put everything on black. They they bet on Trump to be their guy to deliver. So you could say, well, did he deliver, did he not deliver? Sort of yes, sort of no, on on that one. Then he drops the Trump meme coin, uh, completely blows our ball cycle, right? That went straight out the window. And if, like you said, the only person who made money was was him, evidently. Um, and and then you kind of go and you take it one step further that Coinbase, really more than anything, you know, is a again, as a business entity, they need stability, right? They need to be able to avoid risk. And to be able to do that, they need regulation, they need something, some kind of framework somewhere. And what's really interesting with the the crypto bill that came out was it finally went through, you know, the various sides of the government, whatever, and it came out and Coinbase set looked at it and said, We don't like it, don't support it. And and the funny thing was at the same time Trump said, Oh, you need to get behind this bill. At the exact same time, the Coinbase was saying, we don't support it. And so it's really kind of interesting how Coinbase realized that they had no lobby, they had to do something. It I feel like most of their efforts have sort of been in vain. Like they just, I don't know if they've actually accomplished anything yet.

SPEAKER_03 33:46

Well, here's yeah, so here's what happened with that. So Coinbase's big problem was the yield, right? Not for the retail investor. That was just a that was just a bonus side effect of what Coinbase was fighting for. Coinbase, a large part of their revenue is actually from staking stable coin, right? So obviously, there's your problem. That's why they said, whoa, whoa, whoa, whoa, whoa. No, we you're cutting off that source of revenue for us, right? So we're not backing this bill. So and this for me, side note before I continue on, this for me shows us the system has to be changed, right? Politicians are voted in to make decisions. The fact that the Clarity Act bill has not passed because banks don't want it to, that's a problem. That's a big, big pro who voted for the banks to make political decisions for us in our in our in our world, in our country? Who voted for them?

SPEAKER_02 34:54

Well, why are you lobbying? You have a very strong lobby, yeah, right?

SPEAKER_03 35:00

And that's a that's a problem. That is a very clear eyesore of a problem in the corruption of the American government. The fact that banks said we don't like this and it came to a screeching halt until Coinbase and the banks could come to an agreement. That's like a parent telling their two children that are disagreeing on where they want to go eat, you two hash it out, I'm going to sit down, right? Like what the hell? You're the parent, make the decision. You're the government, you make the decision, right?

SPEAKER_04 35:30

Yeah.

SPEAKER_03 35:31

Um, banks are so you know, they're like it or don't like it. The fact that banks did this, because obviously, they were saying that well, there's gonna be like this massive, you know, bank run on banks, and people are gonna take all their money out of their bank savings accounts and stake it in in stablecoin over on exchanges, so it's gonna be a bank run. I call bullshit, you know why? Because Coinbase has been offering yield on stable coins since 2019 for seven years, right? We haven't seen a bank run on people's savings accounts, right? This isn't something that is going to happen soon. This is something that's been happening for seven years, and there hasn't been a bank run. It's bullshit, right? They just don't want to pay the same yield as an exchange, they don't want to pay five percent, they want to pay 0.01 percent on your savings account, right? So, to sum up, apparently there's now an agreement in place between Coinbase and the banks. So, Coinbase is allowed to have yield on their staking for their stable coins. You and I are not not so much, no, so apparently there's this loophole thing where we can, as you and I, but we have to go through some rigorous process over on Coinbase to claim our staking rewards, and if we fail to claim them, Coinbase gets to keep them, right? There's the rub. There's the rub. So now what do banks pivot to? In my opinion, banks now pivot to custody, right? Because they know, as well as you and I know, that we as investors now in this asset class are the minority, right? The majority of people are not involved because A, they don't want to bother going through stuff like KYC and making accounts and learning about self-custody and all that kind of stuff, and banks know that. They just grandpa joe just wants to go to the bank and say, buy me some Bitcoin and hold it for me. Because it they feel like it's safe if the bank is holding it and they don't have to do anything, they don't have to learn anything, they don't have to be tech savvy or anything. They just call the bank and say, buy some Bitcoin, buy some Ethereum, buy some Solana, buy some XRP, whatever, right? Just like a lot of people do that with their mutual funds and stuff. Just call it the bank. What do you got for me, right? Same thing. And banks know that, and they'll be able to custody the majority of retail investors to crypto, which is what they're gonna do, the same thing, fractionalize lending or borrowing again and stuff, right? Where they're gonna take out loans against your crypto and lend it to other lend that money to other people or crypto to other people, and the banks drive off into the sunset, making even more money than they were making just on fiat alone.

SPEAKER_02 38:36

Yeah, I I think if you look at, you know, kind of speaking on this corruption angle, if you look at kind of like the way that you presented it, why do we do it this way? This doesn't make sense. I think there's usually a lobby on the other side of that that's pushing to do it that way. And what's interesting, yeah, it's it's the money, and and what's telling with the lobby is that a lot of the lobbyists were on the government side at one point in time, then they hop the fence and they're on the lobbyist side. They do that for a few years, then they hop the fence back to the government, then they hop back to the lobby. And you know, like in the US, we see this a lot. Like we saw it with um healthcare, right? So healthcare, um, the US is one of the richest countries in the world that doesn't have a national healthcare system, right? I mean, every other industrialized country, Canada included, right? You've got a national healthcare. And in the US, when this actually had momentum when Obama was president, they were looking at the quote public option, right? And I remember um listening, I was listening to the radio at the time, and the healthcare lobby, the lobbyists were in full blast on this thing. I mean, they had plants everywhere, and they had some big protests going, and you know, the guy's shouting at the top of his lungs, and you know, he's like, I fought in Vietnam and now I'm fighting this. And it's like, okay, time out. Uh, that first of all, you're clearly a plant. Secondly, like what like what you're saying doesn't even like even remotely make rational sense that you're fighting national health care. Like, what? Like, that would bring down all of your prices across the board. And and why why is there like privateering on healthcare? Well, because of this healthcare lobby. Um, and and even you know, you take it one step further, you know, kind of going back to the Iran thing in Israel. Who has the biggest lobby in the US? APAC. That's Israel. And who's who's bought and paid for by that lobby? I mean, like the majority of the U.S. government is on that thing. The majority. So again, you can kind of see like, well, why why do we always blindly defend Israel? Well, that's why, you know.

SPEAKER_03 41:04

And not so blindly. Yeah, yeah. Well, I got this little clip I want to play before we get too far away from the stable coin thing. And this is, of course, our very uh our very close friend Gary Ginsler, uh, the laughing, yeah, the laughing stock of the uh securities and exchange commission over the last four or five years. This is his take on stablecoin. This is Elizabeth Warren's lap dog.

SPEAKER_00 41:31

I want to shift gears a little bit here and get your thoughts on what we're seeing in the crypto market. The Galaxy last week basically flagged that this is, quote, the end of the Gensler area era that um with the digital asset taxonomy um moves that have been made here. We've had reports just in the last couple of weeks that one of the biggest buyers now in the treasury markets are stable coins and stablecoin holders like Tether. How do you see this moment?

SPEAKER_01 41:54

Well, uh, Mike Democrats are on Galaxy and I were at Goldman Sachs together many years ago, and Mike's got a good and closer sense of this than I do. Um, I do have uh some concerns about why with interest being paid on these new forms of money, stable coins, um, does it undermine the banking system? And that's something that Congress is sorting through now, really. Um, do they want to destabilize the banking system by allowing the interest to continue to be paid on these so-called stable coins?

SPEAKER_03 42:27

I want to boy, he's never had more of a slapable face than today, my friend. Talk about a guy talk about a guy, Goldman Sachs uh boy himself here, right? Coming from banks, talking about how we shouldn't uh we shouldn't prevent the banks from having a monopoly, right? I mean it's Gary the clown. Yeah. Like the he brings he makes the word punchable, you know, just to another level, punchy. Um the thing is this guy's been a thorn in our side for five years, four or five years, and he's just he's back at it again, right? Um he's he was on here, I didn't play it, but he's on here promoting a new podcast that he has, right? That he's launching. Of course who wants to listen to this guy, right? Like uh one of the most corrupt bureaucrats I've ever seen in the history of the United States government, right? And that's a that's another branch of of uh corruption in the government that that really needs to be nipped in the butt is bureaucrats making all of these decisions that they were not voted in to make.

SPEAKER_02 43:40

Yeah, yeah, and and you know, I he was a great example of a of a big time blowing it by the Biden presidency, you know, putting him in there and leaving him in there. When, you know, I don't know if you remember, there was there was multiple times where he would like put out his own. commercial where like thought he was funny and he's like he's like talking about uh a steak versus steak and like like steak the meat versus staking the coin and it's like what like this this isn't remotely like like this is just bad and and he seemed to really kind of like get off on the spotlight you know yeah he was making it about he was making every action that the SEC was taking about him yeah and not about you know regulation no no and and you know on the flip side again kind of going back to Coinbase because they're pretty adept at this stuff and I I mean they're still based in the US they could have left a long time ago but they've they're trying their hardest to stick it out here and look at all the flack that they've dealt with from that guy alone you know well with this with this stable coin act I don't know if you've seen or not but um circle stock after the agreement came out between the banks and uh and Coinbase about uh average retail investors not being eligible for yield Coinbase uh uh sorry circle stock has come down 22.13 percent in the last one two three days pretty substantial yeah I mean might not be a bad time to pick up some circle stock to be honest with you but but nevertheless right that all comes back to how every decision this administration makes is affecting markets and most of the time it's in a detrimental way yes I agree with that 100% you know Trump term one most most accounts did pretty well right and I think that's why a lot of people voted for Trump term two but Trump term two it has not gone that way at all and every day there's another event and you know it's like at some point I we would be better off if you just took a vacation for a month no one said anything and all all of this could rec recover. Put your fucking Twitter account down stop crashing my market I know well yeah you know his uh his truth social uh I I saw a post the other day where it was like okay he posted you know at l whatever the time was you know it's like 201 a.m 202 a.m 204 207 209 211 213 it's like Jesus like seriously like stop still have a country to run yeah just stop spouting all this bullshit online in the middle of the night like please like we the rest of us need a break you know yeah it's uh it's definitely something else and and the thing is he's you know Elon Musk it goes back Elon Musk was doing it back in 2021 he was crashing markets for fun with his tweets remember that yeah like oh and then he would laugh about it right like that's kind of like market manipulation at the end of the day it's very much so market manipulation every time he tweeted about Doge it exploded and he knew it would yeah I remember back then someone was uh people were harassing him about a certain coin I can't remember what it was but they were trying to get him to mention it so it would pump and they're like oh okay you know say say XRP or whatever right and I was like I was like guys you might want to be careful what you asked for because if he says something negative about your coin yeah you know be careful what you asked for and sure enough he did I think it was Shiba Inu people were bugging him about it and he actually tweeted out about it and he said something derogatory about it and it went boo I was like I don't know what you guys were thinking like and then he laughed about it right like and then what did he do?

SPEAKER_03 47:53

Did he he went and bought a Shiba Inu dog or something like that didn't he?

SPEAKER_02 47:56

Yeah I think he did yeah he was posting pictures of it and people were like pumping different dog coins because of it it's flowy it's this it's that oh my god uh unbelievable yeah we need uh guardrails in place for market manipulation um and insider trading when it comes to to that asset class 100% uh hey let me ask you something a little bit different here so I don't know if this is necessarily government corruption but it's an interesting thing that's happening today there's so many of these AI videos out all over the place right and some of them are pretty good right like I was just watching one the other day that you know I mean it looks real and it was like a Bruce Lee one where it's like all these insane things that he's doing you know and like one of them was like he's looking at a cobra and then he he goes pow and like grabs the snake's head you know and you're like oh my god you know and it's like it's AI you know it's not real or whatever. And so anyway I don't know if you saw this that Iran trolled Trump with a Lego AI video. Have you seen this? I haven't it it's insane it it's like they have a it's it's a video of like a Lego Trump and he's like on the aircraft carrier and it's something about how he lied to his guys and then it like shows them like drowning in the water and there's like a wrap over the top of it and it's like what in the actual like government of Iran again who who who's in charge I have no clue but but they like put this out there like this like AI Lego video like talking shit you know talking shit you gotta love the technological age we live in eh oh it's it it's wild unbelievable unbelievable and we haven't even touched on tariffs oh god tariffs talk about market crashing my god like they're legal they're not legal I think right now they're not legal right yeah right right now it's again it's in limbo because these court cases it's like well yeah they're they're illegal you can't do them okay great but what about all of them that we just did for the last year? What do we do with that? And everyone's like I don't know.

SPEAKER_03 50:30

Well it was funny because the judge declared it right it was it they were illegal and then Trump comes out and starts tweeting that he's adding more tariffs or something like that.

SPEAKER_02 50:41

The same day I was like what what okay so part of his doing no so then there's a bit of nuance there. So the part that's illegal is him saying that he's using it for an emergency power because the US is in some sort of crisis. They basically said no you're not that's illegal. Okay fine then he's now pivoted towards there's a some sort of bill from like 1970 something that says that you could tariff by 15% and cite the following language. So that's what he's now done is he said well tariffs are still in place we're going with 15% and he's citing the thing from 1970 but to say that you're doing all this under these emergency war powers you can't do that and and that's that's kind of a lot of this stuff has come out of that um project 2025 or whatever it was that you know it was like ways to manipulate this and the problem is is the government's just not built to like recover from these actions so so again they did it they did it for a year the court finally caught up with it and said no you can't do that but now what no one knows well I think the the big the big weakness in this whole thing is that so Congress are the ones that have to decide on tariffs and stuff like that right yeah here's the problem Congress they can agree on what day it is let alone anything that big right everything is a is a chess move everything is well what do we get out of this if we vote on that how much money am I gonna make if I vote your way on this and that's that's what it all is in Congress now right who's gonna scratch my back if I go with this bill how much every time a bill's introduced that's all they're thinking well how can I capitalize on this me personally financially that that's what they're doing and that that leads back to my my question why do we tolerate this right that's the first thing they think about whenever there's something going on in Congress is and you can tell just by if you actually sit down and watch one of their hearings they're all talking about like how either how bad the other party like I when I'm watching something in Congress about let's say I don't know about interviewing Gary Ginsler in front of Congress right he's testifying in front of Congress and they're talking about Ethereum or something why Maxine Waters starts talking about Trump out of nowhere all the time or something like that.

SPEAKER_03 53:19

I'm like what are you talking about?

SPEAKER_02 53:20

That's not what we're here to discuss right but that's what they do and it's just it's exhausting yeah I don't I I don't think in Congress that they they don't have it set up well to promote independent thought they have it set up to say you're either with us or you're on an island and if you do that on the Republican side you're done which is why they never say anything until they retire like Marjorie Taylor Green and then all of a sudden they start chirping away at what they really thought the whole time right and and likewise I mean the same's true on the on the Democratic side that um there was something recently where they wanted to I think they wanted to hold Trump accountable on the war stuff and a a fraction of the Democrats uh splintered off and and agreed with the Republican side and it was like okay so you could have held them accountable but then you didn't on that particular issue. So those particular ones that splintered off they're like these are the people vote them out get rid of them you know like that's the problem is capitalism yeah you know like we we need we need independent thought like I need somebody that just walks into the situation and goes that doesn't make sense and this does you know but that reminds me of that yeah that that also reminds me of what happened in the last election too and I I think that I think that a line was crossed whether you like Trump or you don't like Trump for me personally when you're trying to put your direct competition in an election in prison actively during an election that's election fraud in my opinion right I mean that's that is a line that I I can't believe we saw crossed.

SPEAKER_03 55:18

I cannot believe it. Right you are trying to put your opponent in prison so that you can win an election that's what you're doing. You're trumping up pun and no pun intended everything you possibly can right to put like um you've never seen that before in the history of the United States of America you've never seen that happen. Again whether you're for Trump or against it against him you have to put Biden's name in there instead if Trump was trying to get Biden thrown in prison during an election you would lose your mind it's not an acceptable acceptable way to run an election campaign at all in any way shape or form that's just my opinion I think that that is a line that should have never been crossed and when we cross these lines we we set a new standard we set a new bar right and we numb ourselves to things that are unacceptable behavior. So now are we going to start seeing that in every election one opponent's gonna try to throw the other one in prison all the time now because that's you know that's no way to have people do I want someone that's doing that running my country that someone who's that um vindictive I think you typically see that kind of stuff in like South America you you see things like that um that happen but you know I agree with you on that however I would also say Trump has broken the law his whole life now do we hold him accountable right now like is right now the best time maybe that's what you're getting at also right like the timing of this is just bad okay okay fair enough um but again is he above the law and the answer should be no however I think it's yes I think he is above the law truthfully well I mean most most government officials period are above the law there there's actually a law in place that any action or decision that a bureaucrat or government official makes while they're in office short of something like murder right um they cannot be sued for or held liable for because they were doing it in the in the action of responsible of their responsibility of their duties or something like that. That's why I found out about that because it was like okay so who's going after Gary Ginsler here? Who who's putting this man in prison? Turns out he's completely protected. He was allowed to do and say whatever he wanted because he was a government bureaucrat and there was no accountability whatsoever nobody could sue him for damages no one could file criminal charges against him for anything he did while he was in office. So it's it's really true for every politician not just Trump. True very true let me ask you is that the same in Canada as it is in the US or is that different um well I was actually just leading to that um I'm trying to look something up right now um I'm looking up how many times Justin Trudeau has been found guilty in court of breaking the law because it's multiple times in over the last few years.

SPEAKER_02 58:43

Let's find out breaking the law I'm just looking that up right now because people often say that um you know well Trump's a criminal in his office we've had Justin Trudeau running our country for over a decade I'm pretty sure he's been found guilty of criminal acts like five times in court and he was still running our country right so oh Trump broke broke the law with this yeah well we got a career criminal running Canada so what's your you know what's your point he finally is not not in office anymore and uh you know there's no consequences to anything he did while he was in office do they distinguish between like criminal or civil in Canada yeah well yes but civil civil's kind of laughable in Canada right we don't sue each other in Canada so it's it's it's very few and far between that you see uh you know people getting sued for for stuff it's not like you know it's America it's how you make a living right you just sue someone that's what we were built upon here it's it's like a it's a stereotype uh of Americans in Canada that you guys just sue each other for everything we do we don't do that here no there is I mean you can but we I mean we don't like there's no there's a system for it but it's it's probably so undermanned and under underutilized that you know you do see it like I was a I was a me uh part of a class action lawsuit before right because I don't know if you guys have good life gyms in the states what's that I don't know do you guys have uh good life gyms good life gym no haven't heard of that one what's a massive franchise in Canada right and uh I was a personal trainer there and they they weren't they would only pay you for the times you were with clients training them right and but what they would do is they would they would write in the the logbook at the front desk that like for example I'm available between noon and four p.m for consultations right so they'd have me in there but they wouldn't pay you to be there for those four hours where you're apparently available for consultations so I just wouldn't go and the the regional manager had a meeting with me and I told him I said look I said you can't you know you can't threaten to fire me because I'm not here when you're not paying me right he's like well this is our company's policy I said your policies are fine but they don't supersede Canadian labor laws right I don't know who you think you are and uh he said well yes they do and you know if you don't do this so I wrote a letter of resignation to the to the head office and I sent it in and um they called me on the phone like two months later the head office and they they asked me about it and I explained it to them and uh and then that was it and then I got a phone call like a year and a half two years later from a lawyer in Toronto and she's like hey uh we're just wondering why you never cashed your check and I'm like what check she's like yeah you were named in a class action lawsuit because all of the trainers from the gyms across the country sued the gym for not paying them to be there but forcing them to be there right and I'm just I'm laughing at the irony in it I'm I'm like I told that guy man like you can't do this and he was so high on his horse saying that he could right yeah and um so but it's I mean class action lawsuits are jokes right so I said no because I moved from the time I was working at the gym to the to the time she called me so they had mailed the check to my old address so they wrote me they sent me a new check and when I got it it's like 50 bucks because class action lawsuit the lawyers take all the money and then the rest gets divided between like a hundred thousand people so you get like twenty bucks right so who really cares all you the all you can do is take satisfaction in the fact that that the gym was costed you know that the company was at a loss because of the way that they were treating people right but the people who were getting treated bad never really made anything the lawyers made all the money right that's why you see lawyers constantly out there looking to file class action lawsuits digging around because they make money you don't yeah there was a uh here in the States there was this uh lawyer named uh Dickie Scruggs was his name and at the time I worked uh for a one of the big insurance companies and he would get together uh people who had had claims that felt like they had been wronged and he would get a whole group together and he'd sue the insurance company right and he realized that he could just keep on cut uh coming back juicing the lemon over and over again and before that he did it with uh big tobacco where he got a whole group together you know 100,000 people whatever sued big tobacco and it made him like a billionaire and so so after he did tobacco he did it to the insurance company over and over and over again after Hurricane Katrina that you know went into New Orleans and devastated it right and ironically in the years following uh kind of like the guy that you were talking to he he became so entitled that his law firm attempted to bribe two federal judges over something like 50 grand and and he was like a billionaire and he actually got disbarred like multiple guys of his firm got disbarred uh he went to prison um and it was all over you know this very nominal amount of money because he he became so entitled but what he realized was that where all the big money was was in these class actions you know yeah that's always the way it is probably sounds like a bitboy thing bit boy yeah is he's still alive yeah apparently he's on hiatus again he he just lost a lawsuit against um was that Mr Wonderful uh oh really yeah he he lost that lawsuit def deflammation of character or whatever it's called defamation because he he gave out uh Kevin O'Leary he gave out Kevin O'Leary's personal phone number on his on his live streams and stuff like that saying call him call him like relax he crossed the line man yeah he didn't i i think that what happened was BitBoy didn't even

SPEAKER_03 1:06:00

Bother showing up. Why would you bother? You're gonna lose. Right? Like if you literally broadcast it on YouTube, it's there for everybody. All they gotta do is play it in the courtroom and you're done. You're cooked.

SPEAKER_02 1:06:13

So yeah. Unbelievable. You know, you talk talk about going downhill, that guy. The moment he got uh, I think it was Cassie tattooed on his arm. I was like, oh god, this this is like the death death knell of Bitboy, you know.

SPEAKER_03 1:06:29

The pro you know what for me, he had a great thing going, he had a good company and stuff like that at his peak, right? I mean, they were renting a uh an office building, he had you know full of staff and stuff like that, they were organized, uh, and they would host scheduled shows and stuff like that. And it was like, I think his mistake was partnering with people. Yeah, he should have just flat out hired employees instead of you know partnering with people that you didn't know. He just found TJ on the internet somewhere, right? I think he said like on Craigslist or something like that, and then you know, hired him off, gave him like shares in the company, and of course he's gonna stab you in the back. Like, what are you thinking? So um, but I mean that was kind of the you know, that was his peak. And I think he had a good thing going, but he you know, he surrounded himself with people he couldn't trust and gave them too much power, and there you go, right? The they they took it from him, so and now their channel sucks. Discover crypto, I think it's called. Like, I don't think I'm still out there. Oh, yeah, they they rebranded it and they lost like hundreds of thousands of subscribers when he was gone and um when he like when he left, and but it is what it is, the rise and fall, I suppose. There's this one other YouTuber though, and it's funny because you know, content creators sometimes you see a lot of laziness, right? Like that, you know, Atozi, right? The guy that BitBoy sued. No, I don't. So he Otozi made some videos uh about Ben's content that he made years ago when he first came out shilling coins that rugged, right? And Atozi was talking about them, like rightfully so. This happened. You took money to shill these projects, and you know, they rugged. It is what it is, take accountability, right? Well, BitBoy sued him for that, and all of these uh people funded Atozi to fight Ben in court, so then Ben canceled the lawsuit, right?

SPEAKER_02 1:08:39

Because he was Oh, I do remember that. Yeah, I do remember that.

SPEAKER_03 1:08:43

Well, Atozi since then, he pops up in my newsfeed every once in a while, and I think he's gotten a little bit lazy himself because I've watched his last like four videos that he's made are the downfall of BitBoy, and it's basically like the same thing, like uh highlighting, you know, when Ben was outside of that guy's house and Cassie was in his truck, and you know, all that stuff, highlighting that stuff basically, just he just covers it again and again and again, like it's been like four or five times now. And I was like, I was watching his last video, and I was like, Oh, is there some sort of a new update? So I was watching, and it was exactly identical to his video before that. And I was just like, You're just getting lazy now, man. Like, you're just repeating the same thing. Are you having trouble coming up with ideas for content or something? I'm thinking, right? Like, because this is you can't do the same thing like four times. Like, this isn't new information. This is like now, this is two years old. This information, and you're covering it again like it's new, right? So I don't know. Maybe he's getting lazy, maybe he's doesn't have any ideas on original content. I have no idea, but um, you gotta watch that kind of stuff. Because this at this point, like taking pot shots at Ben is kind of like it's kind of a little too easy, you know. Yeah, it's cheap at this point. I mean, the guy hasn't harmed anybody in like two years, you know. He's the poor guy's completely monotone on his channel, he's not bugging anybody, you're still kicking him while he's down, right? Like, yeah, at this point, it's just just put take him behind the barn for crying out loud. It's about that time. Yeah, so but I mean, I guess you get what you deserve, but I think Ben's got what he's deserved. I think that uh I don't think he deserves more. I mean, he's lost everything, he went to prison, you know, his life's in shambles. What more do you want from the guy now, right?

SPEAKER_02 1:10:39

Like hey, so so speaking of getting what you deserve, so kind of circling full circle here, going back to Iran, right?

SPEAKER_04 1:10:47

Let's go.

SPEAKER_02 1:10:48

So, you know, you were I I think you kind of posited, you know, to me about uh what's what's actually going on? Is there a deal? Is there no deal? Was there sort of a deal? Um I think I think truthfully the only way out of this thing is to pretend that there's a deal and say you won and leave. That's that's what I think, truthfully. And I don't think there's an actual deal. I think I think you need to say there's a deal, and you need to make everyone comfortable around there and say, yeah, you know, we got a deal and we're leaving. And that would probably be the way to end it. Because there is no like you know, signing on the aircraft carrier that you surrender and we win, and you know, that like that's not gonna happen. So I I don't I don't see any other way out of it, you know. Yeah, or you bomb them and then what it just keeps going, you know.

SPEAKER_03 1:11:50

Yeah, yeah, that's true. I agree with you, but I mean it doesn't help when he comes out and says we have a deal, and then Iran comes out and says, What is he talking about?

SPEAKER_02 1:12:02

Well, hey, as long as they stop posting Lego videos, yeah.

SPEAKER_03 1:12:10

It's so that doesn't help. Didn't someone else do the same thing to him? He came out and said that there was a deal. Who was it? Was it Russia? Or no, it was it was China and with the tariff thing. And then China came out and said, What the hell is he talking about? Don't have a deal. There's weren't there's no talks going on.

SPEAKER_02 1:12:30

Well, well, you know, a lot of times he's bluster, right? So he's he's bluster and he gaslights, and then he breaks something that's pre-existing, he gets back 25% of what he had, and then he goes, see, we're all good now. And it's like, no, we're not. And like, like one of those he did, it was like, you know, who set up this trade deal with US and Mexico? And it's like, well, you did. That was your first term. Oh, it's just crap, you know, and he gaslights and we throw it out, and then we got back like a fraction of what we originally had. And it's like, I think we're worse off. He's like, No, we won.

SPEAKER_03 1:13:07

Next issue, you know, and you're like, uh Well, and here's my final thoughts on the tariff situation. Now, and I'm not even American, right? But at the end of the day, I do agree that I mean the US, let's be honest, has been taken advantage of by pretty much every country when it comes to tariffs and stuff like that for decades. Decades. There was like a hundred percent tariffs on the US from China, I think it was. And it's been that way for such a long time. And it's like so at the end of the day, regardless of who's doing it, I do agree that there does need to be a little bit more fairness in terms of that. I mean, I mean crying out loud, man. Like they were getting even Canada, the country I'm from, was taking advantage, right? And it's you know, it's not fair. I mean, listen, this world is a lot of things, but fair ain't one of them, right? However, that doesn't mean you can't try to, you know, fight for what's yours. And that's really at the end of the day, all Trump was trying to do was fight for what was right for America, right? In the term in terms of the tariffs and stuff. Uh I shouldn't say that's all he was trying to do, but it is one of the things he was trying to do.

SPEAKER_02 1:14:23

Well, it you know, going back a hundred years, is this is what happened when they had the roaring twenties, and it was like America's on top of the world, and then they had the Great Depression that immediately followed. And so, so it's it's a very cyclical thing, and we're we're right about a hundred years like to the day, and it's like, oh god, like are we are we trending in that same direction? I don't I mean you've seen gold and silver go nuts, so maybe well it you know, truthfully, uh you know, kind of going back to gold and silver, usually gold and silver go up in a volatile market, right? And should we by all accounts be in a recession right now? Probably, but the whole AI space has just been this like gold mine that everybody's like, is the bubble gonna burst? Is it not gonna burst? What's happening here?

SPEAKER_03 1:15:17

Yeah, oh absolutely, AI's been crushing. I mean, Tau. I was looking at Tao Bittensaw. About you were looking at Tua. Tua Tua, yeah. I was looking at it three weeks ago, it was 170 bucks. It's it was $358. Like, talk about missing the boat. Whoa. Yeah, right now it's 341. Like it's still up there. So 104% move on the month. That's like that's insane. So, and that's AI right there, right? So apparently they just uh someone just applied for a spot ETF. I think uh I want to say uh which one is it Matt Hogan is the CEO of again? Bit uh Bitmine, maybe Bitmine, something like that. Anyway, yeah, they they applied for uh uh bit and sour tau ET spot ETF. So we'll see what happens. I really wanted to add it to add it to my portfolio, but man, but you know what I say investing is like a bus stop, man. If you miss the bus, there's another one coming around the corner in 15 minutes. So that's very true. Just be patient. All right, buddy. I know that you gotta get going here. You got some stuff to do. So uh this wraps up yet another episode. I'm really looking forward to that wrestling episode. I'm gonna reach out to Tony again today, see uh when he's ready to come on as a guest. I think we might almost do an episode, even if he's not available yet. Um, and then we'll do a second episode when he is available.

SPEAKER_02 1:17:01

Ooh, I I would very much so like that. I could talk about wrestling for hours, and I know you could too. So we we need to go down that rabbit hole, and there's definitely some hot takes. Oh, there it is.

SPEAKER_03 1:17:12

There's yeah, there's some spicy meatballs in there. So all right, buddy. I will see you on Sunday. Same bad time, same bad channel. Till next time. Thanks everybody for supporting us. Thanks for being here. Uh, thank you for everyone who's giving us five-star reviews. It means everything. Uh, we're having a lot of fun doing this, having these conversations. And again, if there's something you want us to talk about, let us know. If we've offended you, we're not sorry.

SPEAKER_02 1:17:42

We're not sorry, and we will hey if there if anything's true, we will offend you again. That's going to happen.

SPEAKER_03 1:17:49

We love you, but we're not sorry. God bless guys.