Dave Collum is a Professor of Chemistry at Cornell University, but he is also so much more. Beyond teaching chemistry, Dave is an astute investor and political commentator who has an incredible ability to peel back the onion on the major topics in the mainstream and bring to the surface theories on what is actually happening behind the scenes.

This is Dave's fifth appearance on TFTC and this rip is no different than the four that came before it. No holds barred commentary on everything from COVID vaccines, the CIA, Russia and Ukraine, the trans movement in the US, and much more. Enjoy it, freaks.

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TFTC: A Bitcoin Podcast - #385: 2022: Year In Review with David Collum - Listen on Fountain

Join Marty as he sits down with David Collum to recap 2022. The discuss Ukraine, the recession, and so much jab shit-talking we didn’t even bother putting this on YouTube. Follow David on Twitter 9:30 - Hocking loogies and snapping necks13:58 - Rumors that the 3rd jab compromises immunity17:02 -…

#385: 2022: Year In Review with David Collum

‎TFTC: A Bitcoin Podcast: #385: 2022: Year In Review with David Collum on Apple Podcasts

‎Show TFTC: A Bitcoin Podcast, Ep #385: 2022: Year In Review with David Collum - Jan 8, 2023

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#385: 2022: Year In Review with David Collum

Join Marty as he sits down with David Collum to recap 2022. The discuss Ukraine, the recession, and so much jab shit-talking we didn’t even bother putting this on YouTube.Follow David on Twitter9:30 - Hocking loogies and snapping necks13:58 - Rumors that the 3rd jab compromises immunity17:02 - B…

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Timestamps

0:00 - Intro, Boostagrams, Sponsors

9:30 - Hocking loogies and snapping necks
13:58 - Rumors that the 3rd jab compromises immunity
17:02 - Brett Weinstein on Rogan
18:20 - Fauci
20:55 - Vax disaster
26:02 - dog
26:07 - Attitudes and responsibility of the medical community
30:45 - Only conclusion left is deliberate malice
36:04 - Australian data on birthrate
38:27 - Sportsball players dying in the field
42:13 - Speak out, get got
44:45 - Azov Regiment, MK Ultra, and Hollywood pedos
56:34 - SBF
1:04:44 - They tried to kill us with Covid
1:06:33- Who's in control and how much control do they have?
1:16:41 - Trans mind sickness
1:26:11 - Trudeau and Castro
1:27:29 - Where's the financial chaos going?
1:39:41 - Gold
1:49:55 - What's up with Japan?
2:00:00 - Inflation
2:09:30 - A story of redonkulous financial degeneracy
2:14:19 - Remember IndyMac?
2:18:28 - If everyone's mad at the start of the recession, what does the bottom look like?
2:21:00 - Talking monetization
2:24:34 - Bitcoin vs gold
2:31:50 - Family dynamics changed by economy
2:35:59 - Mining bitcoin
2:39:32 - Bullish on nuclear
2:44:29 - Marty is a lesbian woman with two children
2:46:06 - dog
2:52:04 - Ukraine
2:55:51 - Moon landing and flat earth
3:00:29 - Dinner time for dog

Transcript

Marty: We're live now. So everybody's listening. Just got the warning. Beware.
Dave: Okay. Yeah.
So I'm gonna be hacking up flam balls and I'll try not to hit the camera lens so that it becomes a big blur. , maybe. Maybe that's the problem. Maybe I already did. Yeah.
Marty: Hawking loogies on the camera.
Dave: Hawking loogies on the camera.
Marty: Great way to begin the year. Sick. children. They're little viral bombs.
Dave: Yeah.
Yeah. The grandchildren, we should point that out. So whenever they visit, [00:10:00] um, I end up fucked up. My wife ends up fucked up since we last talked. My wife managed to break her neck, um, slept, fell, smacked. She hit the floor so hard that there was a big strawberry on her head. That was the pattern of the bath towel.
The bath mat. Oh, shit. And so she really un, un unprotected, fall straight to the forehead. And uh, it's the second time she's broken her neck on a, on a flub. And so it's, it's like, holy shit. Are you gonna keep breaking your neck the whole way? And is she okay? I took her in because I, uh, she's got all functions.
She's got a bit of a headache that won't go away. So she, she has some traumatic brain injury. I mean, there's, I, I can see cognition issues. Um, but it, it's healing. I think she'll end up okay in the end. My mother, who had osteoporosis was very [00:11:00] feeble, did exactly the same thing. She slipped him and did a hatter into a big, solid piece of furniture, snapped her neck right on the spot, died immediately, instantly.
No blood, big gash, no blood.
Marty: Oh, that's how your mother died. Holy shit.
Dave: So the broken necks are in the family, so they should be investigating me, right? They should . There's some, there's some, some pattern here. And you know, when you go to the hospital, they ask you, they ask you, do you feel safe at home? And I, my standard answer used to be, when I was sitting there, I used to.
you know, I'm sitting right here, , right? You're asking her in front of the guy who, if someone's beating her, it's probably me. And they go, yeah, we gotta ask. And then, and then this, this time I said, look at her. Does she look like she's safe at home? from the holy cow. She's got a, she's got a broken fucking neck.
Marty: It's, but it's not for me. It's the home. The home's the dangerous part.
Dave: Well, she just, [00:12:00] she's not situationally aware. Mm-hmm. . So I, I see setups for problems all the time. Like, I can hear the dogs coming and I, and for me, I'm saying, okay, brace your knees cuz one of 'em could hit, hit you from behind, knock you flat or something.
And she just doesn't hear it. She just, it doesn't register to her. And so I, I can see this slowmo set up for a disaster and then she, uh, oh God, I'm tearing up from all the, uh, all the Fleming shit. Um, so it's a little problematic.
Marty: Yeah, it's funny. I have that issue of my too. I can see, I see setups for cataclysmic events that are gonna make him ball his eyes out.
Try to warn 'em the, the ability to react
Dave: is not there yet. Well, well, I've described this few men and women as women try to stop it and, and men say, oh, that's gonna hurt.
Yeah. We got
Marty: a lot of, and so we had a lot of kook slams down the shore this summer in the [00:13:00] ocean. Like, Ooh. Yeah, he's gonna, he's gonna wash the shore there. But yeah, it's been a year. When
Dave: did this happen? Um, about a month ago.
Marty: Oh shit. That's not
Dave: a good time. Sick from about a week ago. You know, for all I know, I have covid.
I don't know. I I didn't bother to take Ivermectin. No, I, I wasn't. No, I wasn't showing enough sides of really sucking gas. The problem is, by the time you're really sucking gas, the ivermectin is not gonna do any good. But I've taken it before. I got Covid about a month and a half ago. I, I, I got it pretty recently.
Did you get tested? I didn't bother. No, I did not. But my wife and I got it simultaneously and she tested positive, so I figured, wow. Testing my proxy. Then, um, yeah, so Covid is here to stay one of the, uh, hot, hot Covid stories out there that's been filling my email box. Then I send it off to a biochem friend of [00:14:00] mine who says, well, you know, it's not clear.
That sort of thing is the claim, that there's a, there's evidence that the, uh, the, the third booster, um, destroys part of your immune system. The first one doesn't do anything detectable. Second one, there's a big delay, and then all of a sudden there's this rise in what's called an antibody, but it's a, it has an unusual function.
It's IgG G four, and it, uh, and it's actually designed to make, to tell your body not to overreact. So for example, if you do snake venom and you, you inject yourself with snake venom, you're, you're triggering the IgG four. Mm-hmm. to tell your body, okay, don't have a hyperallergic reaction to the snake venom.
And, uh, and then after a while, you become independent of the snake venom. So if a snake gets you, you're not gonna die. Um, so this IgG four antibody, um, after the third boost, it, it apparently this, uh, [00:15:00] this, this, this IgG four antibody increases something like, uh, 2,500 fold, no shit.
Marty: So third boost fist
Dave: shot third, third shot, third shot, third jab.
Okay. So, And, and the claim is that now you have no first line of defense against the, the disease disease walks right through the front door. Your body doesn't see it. I think down the road there's a defense, I think, beyond the IgG G four, beyond that first, that wall of defense, your body says anything that's not part of your system attack.
Well, now Covid walks in and your body doesn't recognize it right away. So you're creating more and more virus and there's no defense. So what happens is you're, you're asymptomatic because the symptomatic, most of the ailments you got, you become symptomatic. It's your, [00:16:00] you're, you're feeling the suffering caused by your immune system battling the thing.
Mm-hmm. . So I, I think a lot of the infections and stuff would be much more silent if your immune system wasn't responding. You might eventually die from them, but, but the inflammation and all that stuff, subs wouldn't be there. And I, I had a genetics major about 45 years ago, and it's not, it's not holding up well, right?
It's a little old and a little forgotten, but, um, but I can kind of pseudo talk about it. And so, um, I'm not convinced this is absolutely guaranteed proof now, but some very high level guys are saying it's true. So now you become a typhoid Mary. Now you get sick, you're spewing out virus, you don't even know it, you don't even know you're not coughing or anything.
And, um, it's not good. And uh, and then presumably you start getting sick. But, but,
Marty: um, did you catch the, uh, the Brett [00:17:00] Weinstein, Joe Rogan or clips from it Familiar this week?
Dave: What? This week? No, I didn't. Yes,
Marty: it's familiar this week. I mean, they were going over the stat that Fauci Biden and Wilensky and all them spoo out there, which is that the vaccine is saved 3 million lives.
Which yeah, that's crap. That's, yeah. Turns out to be, yeah, that's what they dove into there. Like, this is complete bullshit. They based
Dave: this, I think it's the reverse, actually, it might be the
Marty: reverse, actually, , that's the conclusion that Brett came to, is that is actually a net negative and it's probably caused more deaths than one of otherwise happened.
Um, the 3 million,
Dave: certainly the lockdowns cost a bunch too, so, so they're the whole, if we had just ignored it and treated it like the flu, there would be less dead people. There would be less seven year olds who still don't know how to read . You know, there's, there'd be all sorts of things, right? Yeah.
Yeah. It's, there'd be Indian kids who can roll their Rs rather than now they can't, you know, whatever. You know, that's,
Marty: who knows. Well, that's, I mean, that's a scary thing. I mean, you mentioned [00:18:00] third, third shot, third jab, destroying immune systems. I mean, that's one of the theories out there is that these shots after a certain amount of them are giving people aids, literally, uh, it's destroying their, their immune system.
And that's where, when you come back to fauci too, that's one thing I dove into in the last year is the, the history of fauci in the AIDS epidemic in the eighties and nineties. Well, did you read Anthony
Dave: Fauci?
Marty: Did you read the verse? Yes. Yeah,
Dave: I listened to it actually. It's, it's hoor. So did I, it's horrifying.
Yeah, it's horrifying. I, I, you know, I've told so many people on social media to read it, and I've never once had one say, you know, I've started and it just seemed like crap and I quit or anything like that. I've had people say, look, I'm a hundred pages in and, and I'm already convinced we should get a rope and hang the bastard.
Marty: Yeah. And it was, I mean, back then too, it was, he was creating a solution to a problem. It was probably misdiagnosed in the first place. [00:19:00] Uh, right. Like the popper scene was destroying immune systems. That's right.
Dave: When he went there, when Kennedy went to the AIDS story, that deep, I'm sitting there, I'm going, wait, don't go there.
Don't go there. You're gonna, you're gonna undermine your case. But he did a very good job. . So for a guy to come out and say, look, it, it, h i v may not be the cause of aids, you better come armed to the teeth with data. But he, he did come armed to the teeth with data. Yeah. And, uh, and so, so for those who haven't read this, H I V is a retrovirus, and they were stunned.
All the virologists were stunned that a retrovirus could be that lethal. And it just didn't make any sense. And we have like a hundred thousand retroviruses in our body. They've been around since eternity. They're, they're really symbiotic organisms almost. Right. And um, and, and then at some point, as you recall, but your audience might not, um, at some [00:20:00] point they isolated another virus that looked like a real killer and fauci shut down all the funding to it because he had hung his career on the H I v, um, AIDS connection.
And the really insidious things is that, um, you recall how awful the A z t clinical trials were run, by the way. Good follow up book to that is, uh, sickening by John Abramson. I haven't read that one yet. That's a good one. Because, um, it's clear that Kennedy hates fauci with every ounce of his being . Um, which, which you totally, if you read the book, you'll totally understand why.
But, um, but, um, Abramson is much more sterile and he just describes the complete collapse of the clinical trial system and, and how it's just, the whole thing is just a big farce. Well,
Marty: that's, I mean, going back to a Z T AIDS epidemic, the mRNA [00:21:00] vaccines, this pandemic, like, there's a lot of similarities like echoes, like in the same Right.
Individual fauci is in the middle, like a z t. was making people sicker, was destroying immune systems. There's a lot of, and they were blaming aids for it. Yeah. Yes. And then fast forward, you have , the, the jabs that, I mean, data's coming. They're not emitting it yet, but it seems that after a certain amount, it's hurting people's immune systems and leading to excess deaths.
I mean, if you look into the insurance data that Ed Dowd's digging into, and if you look at excess deaths, right, in Europe, there orders of magnitude higher than the mean historically. And it's just odd that
Dave: the number of dead athletes is up 50 x.
Marty: Yeah. And then the same thing, go back to clinical trials.
You had the Pfizer representative admitting in Congress that they didn't, they didn't test for whether or not this would actually prevent spread of the disease, which is [00:22:00] the narrative they ran with. It's insane. Well,
Dave: oddly enough, you knew that was true because there was not enough time for them to have, have done it.
Right. But then they, they lie their asses off. They lie about, they say, you'll be free, good to go. You won't get, you won't get covid, you won't spread covid. They were completely fabricating that story. The fact that they didn't have that data, I think is forgivable. The fact that they pretended like they knew the answer is unforgivable.
And then, um, and then, uh, um, you know, giving the, the vaccine to pregnant women, what kind of crazy bullshit move is that? Right. So I, you know, okay, here's the question. Is this just arrogance and narcissism gone wild? Or are these guys really trying to kill us? That's the big question. It's, it's really, there's a, there's a cliff that you go off.
And, and by the way, most of the, the prominent anti-vaxxers I think have gone off that cliff. I think [00:23:00] most of them McCulloughs the malones. They might not be saying it, but I think most of them think. that it is some sort of very dark plot. Some
Marty: depopulation
Dave: campaign. Yeah, some depopulation campaign and, and people getting rich in the process.
Um, do you think the majority of the population now gets it or are we just so Twitter centric that, that, you know, you can't be on Twitter without hearing the scrap, right?
Marty: No, I think, I think in the public, outside of Twitter, maybe deep down they get it, but I do think there's a sun cost fallacy at play where they don't want to Exactly.
Admit to themselves. Exactly. Exactly. They don't wanna admit to themselves that they were duped.
Dave: I know, I know. I asked a, uh, physician's assistant in my GPS office, um, are you getting any weird diagnoses in your office? Weird severity or weird frequency? And she sort of [00:24:00] paused. Now, I did a little math and I gotta figure this chick probably sees 10 patients a day, call it 250 days.
Right. She's seen 2,500 patients in 2022. Right. And she pauses and then it's clear that she's just dying to tell me. And she said, yeah, we're seeing way more shingles, way more in-office diagnosed cancers and way more, um, way more cardiac problems. And I said, are other people in the office seeing it? And she says, I just don't know.
No one's talking about it. There's just no discussion about it. It's just there. It's the elephant in the room. It's the classic elephant in the room. You know, if, if her boss or the docs found out, she told me that she'd be fired. Yeah.
Marty: Right. I mean, you had the, um, I forget where it was. I think it was Minneapolis or something, but you had one.
[00:25:00] Doctor, either at a hospital who decided to dig into Theves data and actually dedicated her job within the hospital to actually write VAs reports to send it. And she wound up getting fired for bringing it up and be like, Hey, something's, something's going wrong here. The amount of patients that would, so, so
Dave: I, I have this, so there's people who I firmly believe should be taken to the hay, tried, convicted, and hung from the neck until dead.
There's that group's I can identify countless hundreds potentially. I don't know what to do with me. I don't know how, what I think about what should be done with the medical establishment that did that.
Marty: Right. Because I, I've seen it. First name, I mean, you mentioned pregnant women. My wife was pregnant. We had our second child in June of last year.
Last year of 2022. So she's pregnant like the back end of 2021. First half of 2022. When we first went to like a, a guy Noah pregnant, the
Dave: [00:26:00] bus, Boston, Terri
Marty: visit. Oh, what's up, dude? But my wife and I were, were, when we said in, we were asked, are you, are you vaccinated for covid? We said, no, we were pressured twice.
And then once, two times in a row we're like, no, we're not doing it. Then they stopped. But then, um, later that year, in 2022, I had to take my oldest son to a pediatrician appointment. And it was the first time we went there. Last time we went there also, but she, she began questioning us. Actually, we were there for an appointment for our son and she asked my wife and I, we were vaccinated for covid and we said, no.
And it was crazy. The tenor of the conversation and her whole mood shifted and she actually started.
Dave: So she's just an idiot. She's just an idiot.
Marty: Yeah. And she started, she started treating our moron. She started treating our son like negatively, which was Right. Our two year old son. So sh so
Dave: she has read nothing.
So [00:27:00] the first fact that she should find is that there's, there's almost no documented case of a healthy kid dying from Covid. So there's no reason whatsoever to vaccinate the kid. None. Zero. And there's a million reasons not to. So, um, I know I look like, you know, some James Bond character with my cat, but it suits you Well, I can control, I can con Yeah, I know, I know.
I can control her up here more than if she's on my lap. Yeah. Um, and I can't keep her off my
Marty: lap. Yeah. So what do you think it is with the medical establishment? You think these people just aren't doing research? I don't know. Are they part of a sun cost fallacy? Like they don't want to come to grips with the fact that they really pushed this?
Dave: I don't know. I, I was talking to a friend of the family a couple weeks ago and she comes strutting my house with a mask on. And even the authorities are now saying mask didn't do anything. The White House [00:28:00] medical advisor said they do nothing. They do nothing. Lena went cnn, they do nothing. They're facial decorations.
So even the psychopaths are admitting the masks achieved nothing. And we knew that before Covid, cuz they had done some white 30 clinical studies before Covid died, flew epidemics and found there was no evidence masking does anything in John Barry's 2005 book, the Great Influence. He said Mess did nothing.
And so, so, um, so how could they be so ignorant?
Because once I learned that, and you know, like the six foot distance, the six foot distance comes from someone who actually said, you can kinda measure, it's about three feet. And so they just doubled it. They just made shit up. Berks is a moron. Fauci iss a. Brain dead was at one point it was smart, but I was a brain dead bureaucrat.
I
Marty: don't, I mean, and [00:29:00] uh, I think he's more nefarious than that personally.
Dave: Oh, he is a dark bastard. Yeah. Yeah. So Fauci, well, here's what I, I got into it with Chris Irons and I brought up the example of Fauci doing clinical trials of various drugs on inner city foster kids. And, and when the kids realized that drugs were making him sick and they'd refused to take the drugs, they'd shove it shall feeding tubes to have their throat, they'd forced feed him the drugs.
And there's nothing more dastardly than that because there's no one who's more vulnerable than an inner city foster kid. And Chris kept saying, well, they, they wouldn't do that. And I go, what do you mean they did? He says, but what adults signed off? I said, Fauci. And they said, no. The, the adults overseeing the kids.
I said, inner city foster kids. You got foster parents who are just collecting a hundred bucks a month or a hundred bucks a week. They don't give a shit about these kids. These kids are easy to round up. Cuz this is just an extension of [00:30:00] welfare
Marty: checks. Yeah. Were they, were they getting paid by the trial as well?
On top of being foster parents?
Dave: Probably. Yeah. Probably. You bribe, you know the foster mom and you say, yeah. And she said, yeah, he's a little shit. Can't stand the kid. Yeah. Go ahead and do the clinical trial. So maybe 13,000, a number of fatalities Dr. Manlays rolling in his grave on this
Marty: shit. Yeah. Yeah. You can't talk with the tubes then.
Yeah. Do it. It's, uh, yeah, it's all fucked. And I mean,
Dave: so I don't, I don't know what, I don't know. We, we keep getting forced to a conclusion that seems so preposterous. Right. At some level we go, they can't be that bad, but all the data says, but the data says they're that bad. , everything points to Fauci being a mass murderer, everything.
Do you think anyone could read the real Anthony Fauci not come to that [00:31:00] conclusion? Is that possible?
Marty: No. No. I mean, my wife, she was one of those people who like li we listened to it in the car and she, we listened to it for probably an hour and she said, you, you gotta put your headphones in, listen to it yourself.
I can't, I can't stand it. I can't listen to any more of
Dave: this. Yeah, right. I've just finished, uh, poisoner in Chief about Sydnee Gottlieb in the cia a and the first 30 minutes of the book, I mean, when World War II ended, we ran over and we not only grabbed the rocket scientists, which made total sense right.
German rocket scientists. Of course we also grabbed all the German doctors who did all the experiments on, on, on, on Holocaust victims. That's for mk.
Marty: Ulrich '
Dave: em, right? That's right. And, and we grabbed them all up and we gave them, uh, we gave 'em, you know, we gave 'em sanctuary. Uh, a couple of 'em were tricky because they were so heinous that getting 'em cleared to be [00:32:00] brought over without getting punished was quite a feat.
We brought 'em in and put 'em in these CIA operations. These guys told us all the shit they did about freezing people to death, to monitor what happened. And our CIA was doing this shit. And so there's no reason to believe that this has
Marty: stopped. No esp I mean, so we're here to talk about your 2022 year in review.
Is this the longest one you did? Almost 200 pages.
Dave: No, last year's was three 19. Oh, so two thirds of what went was I left about, no, I left about 60 pages on the cutting room floor that were rough draft
Marty: written. Yeah. Well, I
Dave: decided I wasn't gonna upload it. Why? Because I didn't think people wanted to hear about Covid again.
Marty: um, I mean, I That's bring it back to Covid. That's what I worry is that people are just gonna let it get swept under the rug and everybody's got their eyes in the air. Like, let's just forget about this and
Dave: Yeah. Well, yeah. [00:33:00] Well, there's no Epstein. Where's Epstein? We're not gonna hear about ftx, which we have to get to before this is over.
Right. No, we definitely will. Especially on this show. Yeah, there's all sorts of, I know there's no way I'd let you off your own podcast without talking about it, but we can talk about it later. Um, and, uh, and so it all gets swept under the rug. And, and
Marty: I am I naive to think, am I naive to think that the collateral damage of excess deaths is gonna be too undeniable?
That it, it is not gonna be as easily swept on the rug as like an Epstein or an FTX where people were where it's abstract? Yeah, it's abstract. Yes,
Dave: I think it's possible. Um, there's certainly gonna be a, anyone who lost a loved one to the vaccine, anyone who lost a loved one to being intubated to death.
Anyone who, [00:34:00] who, uh, who lost a loved one in getting remes severed into oblivion. They, they really should be questioning this story. And even guys like Aria, who was actually pretty controlled in his view of, in his presentation of the medical community is getting pretty militant now. And so I, I, I think it'll come out, but it's also of these things, you know, what are the odds that Oswald was the sole shooter of Kennedy?
And the answer is zero.
Marty: Right? I mean, that just came out publicly, right?
Dave: Right. Zero. I mean, for one thing, if you go back to the original data, the guy would've had to have been able to shoot better than anyone in history was known to be able to shoot. with a bolt action gun. I mean, it just made no sense.
So we know they're still hiding the data. So what, and by the way, as they leak out papers, a thousand here, a thousand [00:35:00] there, what makes you think they're not modifying those papers? What makes you think the thousand at a time isn't just them creating a thousand new
Marty: drafts? I mean, they modified all the, all the research data.
Yeah.
Dave: Yeah. What, what, why do, why do you think that, why, why would anyone think that? That, that the release of the Warren Commission papers would be done in a way where we actually get the data, even if they, if they tell us we get it. I, I don't, there's no reason to believe that they're not gonna
Marty: rig it.
Well, so again, that's why like they can't control it to some extent. That's why I'm very thankful for people like Ed Dowd who are diving into other sources of data, particularly life insurance policies, and really highlight, right? Hey, we're having like an 11 sigma event here in terms of,
Dave: and, and, and it is that many Sigma , it's a, it, it's a, they said if the, if it went up 10%, it would be six Sigma.
[00:36:00] And, and so, and then there's, there's data from Australia, which I think has now disappeared. But of course, screen grabs existence was from the Australian national website on birth rate. And this is a trivial thing to keep track of cuz you go to the hospital, you pop out a kid, you fill out the paperwork goes into the database, right?
This is, this is no brainer stuff. And the Australian birth rate showed no flicker until late 2021. But nine months after the vaccine was released and it started to drop and it went down by the end of 2021, 80%, 80 fucking percent.
Marty: And I, I mean, Germany, that was down like 20% Norway.
Dave: It should be down everywhere. Should be down everywhere. Except for maybe Sweden, where they said, fuck it.
Marty: Yeah. But that's something. So if we're [00:37:00] trying to steal, man, this, I feel like the birth rate, they'll try to explain away people were locked down, they weren't having as much
Dave: sex.
The evidence to that is zero.
Marty: Yes. But they'll use it. Right. That's why I think the life insurance claims are, are the signal and the data that should be leaned
in
Dave: today. I think they're both the signal because, you know, it's like the climate change story where they say, oh, climate change is causing myocarditis.
Right. No, I don't think so. Dudes . Well, they, they, they're, they're, they're saying that, they're saying that, you know, it's causing car, more car accidents. They're, it's just absurd things.
Marty: Oh, it's egregious how stupid they think people are or maybe how stupid they know people and how people are Yeah. How stupid they know people are.
That's
right.
Dave: People think that the authorities, like the head of the National Pediatric Society would never lie. Well, they did in April of 2021 when vaccinated fetuses were still five [00:38:00] months away from coming out to shoot. And, and the head of the pediatric society said, it's safe to get vaccinated if you're pregnant.
It's like that Hamlin guy killed over and all the docs are saying, oh, it has nothing to do with the vaccine. I go, you're lying. You're lying your ass off. You skanky piece of shit. Why are you lying intentionally? You can't possibly, as a cardiologist believe that, you know, from looking at the footage, looking at the game films, how that guy died or how that guy collapsed, but they go off there and lie.
Is this the soccer player? Because their part No, this is the football player last Sunday.
Marty: Oh, oh, Lamar Hamlin. ,
Dave: Lamar Hamlin. Yeah. I watched the films. He didn't get hit in the chest. I did freeze frame, watch the films. He got hit in the right part of the shoulder, part of the head glancing blow. So he turned his body, [00:39:00] nothing near the heart and certainly nothing where the body took the whole force of the head.
It just rolled right off him. It was a nothing hit.
Marty: Yeah. And then he stood up after he wouldn't, where if
Dave: you were, he stood up and he seemed fine and then all of sudden he just staggered. So I think what the hit probably did is trigger a blood clot. I think the blood clot was probably sitting there waiting, just hanging by it.
Its fingernails, nails. And then all of a sudden it said, gonna let go now.
Marty: Yeah. The NFL's come out and said that if you theorize around this, you're spreading medical misinformation officially. Yeah.
Dave: Cause cuz they're, they're officially liars. Now, I would love to go on TV and debate any of those people.
Any of those people I would go on, I would risk my reputation to sit on that, uh, sit at a on in a microphone and debate the person because I destroy them. I would destroy them.
Marty: Yeah. And you wonder how [00:40:00] many of these players are just staying quiet who are actually very worried about all this? All of them.
Dave: All of them. They all have to know it. Right. There's, there's a, a, according to Tucker Carlson, who's one of the only guys who wanted to say shit, there's a 50 fold increase in collapsing on the athletic field compared to pre-rec Now. Yeah. I don't know if he's right, but I do know that I'm inclined to believe him more than anyone else.
Marty: I mean, just perusing the headlines, it does seem like, Hey, I don't remember this many athletes. falling dead on the field. Well,
Dave: you know, do you remember kids in high school and Jim class Kelan over dead? No. No. It's just, it's just Do you remember anywhere in the city that you grow up in of that story? Cuz that would be a headliner.
Marty: I mean, you hear the one off, you hear like the one off high school football player gets the heat [00:41:00] stroke and keels over.
Dave: That's even rare. Yes. That's even extraordinarily rare. In fact, that happened a number of years ago and they said that's actually the first time someone died from it. I'm not sure heat stroke deaths are, are even well documented.
Yeah. But on the other hand, the N F L has been lying about concussions as long as they've been lying about concussion. So I did a Twitter poll the other day and said, what are the odds that if, let's say they trace it to the vaccine, that they'll admit it. Now the reason they won't admit it is first of all, because the pressure from the authorities, right?
The, the deep state, whatever you wanna call it, pressure for them to go. If, if, if some guy goes out and says, this is the vaccine boy he's gonna, there's gonna be hell to pay. And the o the other thing is, since they made all their players get vaccinated, it would be a disaster. Yeah. So the nfl, the N NFL can't admit it.
5G will never admit that Ivermectin [00:42:00] works. People will continue to die unnecessarily from a severe flu when they could have taken Ivermectin. And so they're mass murders. I have no patience. I want them tried, I want them convicted. And I will throw the switch. , what would be, you could, you could auction off that.
Right? You get a lot of money.
Marty: You could. It's I'm afraid it's never gonna happen though. Which is
Dave: unfortunate. No, it's never gonna happen. Be it's, it's like we sell no shit about Epstein. There's too many important people involved.
Marty: Yeah. What, uh, what just happened with that and was it a, an attorney general out of The Bahamas
Dave: tried to, someone tried to, an Attorney General in The Bahamas sued JP Morgan for their dealing with Epstein, and she was jobless within three days.
Yeah.
Marty: I think she was trying to get access to the [00:43:00] client book or something like that.
Dave: Right. She was jobless within three days. I What would you do if, because of your ignorance, some medical procedure was done to a family member and you realize then it killed him? What would your response be?
Marty: I'd hope that I'd had the temperament to , I don't wanna say be forgiven.
Kill him. Yeah. You know, you want revenge. No, I wouldn't.
Dave: No, I don't. I want revenge. Yeah. I want revenge. Yeah. I don't, I don't hope, I don't think that the high road is not temperament to forgive. The high road is cleaned up the swamp.
Marty: Yeah. Let people know this is not right in
Dave: just right. Like, like the guy in the Los Angeles Police Department who declared war against the Los Angeles Police Department, and he [00:44:00] ended up getting killed in the, what a shock.
Right. Oh, we can't let him come out alive. So they burned him in a house. There was this final standoff and they cornered him and they burned the house down. So he died. But I read his manifesto. He wasn't a loner, he wasn't unhappy. He had simply had enough of Los Angeles's corruption. So he wrote this long manifesto, described who were the bad guys, who were the good guys, and then died for it.
He did it for us. When was this? About six years ago. . I think his name was Chris something. It's in one of my year in reviews.
Marty: Yeah. No, it's pervasive. I mean, we got, and all of it intertwines too. Like we're talking about the cia, all these authorities, are they malicious or simply incompetent? But I mean, touched on, on your year in review, we just discussed how the N NFL mandated for their players.
I mean, you had the trucker [00:45:00] rally in Canada where people were protesting. Is Chrissy Freeland
Dave: being a Ukrainian Nazi ? Yeah.
Marty: Right,
Dave: right. I mean, she's a Ukrainian Nazi. Her grandfather was a buddy with Gobles.
Marty: Yeah. What is the, uh, the name of that, that branch of Nazism? They have like a holiday for the guy.
Dave: Uh, well, Stephan Bendera is the famous Nazi who they celebrate his birthday. Mm-hmm. . And he was fighting Ukrainians and Soviets during World War II with the Germans. And if you go on Twitter, here's the homework assignment, go on Twitter. You don't even have to do a time sensitive search. If you just go search Azo Battalion, which is the main fighting force for Ukraine right now, you'll find nothing but horror stories.
Horror stories about who the, these guys are the equivalent of Mexican drug cartels. They'll dismember people. You know, there's videos of Ukrainian doctors saying, you know, we're getting Russian, former Russian [00:46:00] soldiers who were treating because they got castrated. You know, they're just doing, they're just awful, awful people.
The AZA Battalion are the most ruthless sons of bitches on the planet. These are the freedom fighters that all the yellow and blue flag waivers are supporting. And this
Marty: was well understood before February of
Dave: 2022. Well, understood. It's still, well, what's stunning to me is it's still well understood. I, I would've thought there'd be some sort of mechanism to clean it up, but it was, the stories about the Azo guys were so over every media outlet.
Over the last decade and the ruthlessness and the anti-Semitism and the ethnic cleansing patterns and all the civil rights watch groups had 'em in their sight saying, these are bad, bad guys, and these are the guys. Our CIA decided we would arm them and they would fire Russian
Marty: again. CIA coming back into it.[00:47:00]
Yeah. Seeded with Nazis. Back in the early days, I,
Dave: I had, I had dinner with the former head of the CIA one night. How, how did that go? Really? Uh, well, he happened to be a former chemist. Now what's interesting, it didn't mean anything to me at the time, but he was a former chemist in m i t. Well, if you track the CIA Epstein crap and stuff like that, it always goes to Harvard and m i t.
There's about 50 or 60 schools, but Harvard and m i t are, are real tip of the spear. So they appear to have of set up shop. The CIA was funding, I think a huge percentage of the psychology studies, you know, these famous studies like the Milgrim experiment, stuff like that, that everyone likes to quote. Um, you know, where they zap people with charge as they see if the, if the person is willing to, uh, up the charge, even though the guy's screaming or the prisoner prisoner guard experiment where they, where the prisoners start treating the guards, start treating the prisoners.
They're just [00:48:00] role playing. But then priest, they're brutal. This was all CIA shit, right? This, these weren't cute experiments by psychologists. These were psychologists who were getting vast sums of money outta the CIA to do experiments on humans. And, and I'm sure they're watered down. They talk about, oh, there was an actor in the other room.
I'm not convinced there was an actor in the other room screaming at the top of his lungs and pain. They might have just been a guy getting zapped. . And so you just, you just don't know. And then I read, uh, chaos about Charles Manson, and I wouldn't have, cuz it sounded hokey to me. It was about Charles Manson's, you know, massacre of, you know, Sharon Tate and the Bianca Killings I think.
And, and, uh, and, uh, three guys, credible guy said, you really ought to read it. And it turns out it was too long a book for too little real punchline to me. But [00:49:00] eventually the author, much of his own dismay connects the Manson murders with the CIA's operations in San Francisco, where they were testing the effect of asset on mine control.
Yeah, it was MK Ultra and that it was MK Ultra. And then all of a sudden the guys in, in, in the San Francisco MK Ultra program were, he, he was able to connect up back with the Boston MK Ultra guys. And, and so it was pretty clear that Manson was, and Manson was protected by the authorities. He said, well, so mysterious is he kept getting out of trouble.
He kept wiggling off the hook. And, uh, and so I, I would, I would not recommend the book, although it was kind of an interesting journey by a reporter who didn't know what rabbit hole he was going down and explaining all the dead ends he hit and stuff like that. So in that sense, it wasn't bad, but it was really too long for what I got out of it.
Um, the thing he didn't [00:50:00] explain was why all the Hollywood elite shut the hell up. He, he, the first Wally hit where he wanted to write a anniversary story about the mansion killings. And he now hit people saying, look, I don't really wanna talk about, it's kind of a bad period. He hit doors being slammed in his face and he never explained it.
And I sent him an email and said, I really didn't get the message as to why the Hollywood Elite. shut you down. And his response was, what's in the book? And I'm going, I read the whole book. And you didn't tie that off very well. Right. But I, it was clear. You know what, tell me, I don't know.
Marty: What, did you, did you follow the, the Kanye saga at all late last year?
No,
Dave: I, I know of it, but I, I, I, my interest in it was minimal.
Marty: Yeah. But there, I mean, what was [00:51:00] going on? I mean, I, we don't have to get into No,
Dave: I'd love to hear if there's a subplot that I missed. Well,
Marty: there, his trainer and former doctor who put him in the loony bin, um, uh, years ago, he, he shared screenshots of his conversation with him.
Uh, and basically, I think the dude's name was like, Harvey Ick or something like that, or his name is mm-hmm. . And in the screenshots he says, you have two options. You can apologize or I'll drug you up and make you a zombie for the rest of your life. And you'll go back to what you were in 2016 when I first throw you in the clink.
And it's come to be apparent that this guy's ex masad and is the trainer of a lot of Hollywood Elite and one surmises
Dave: there. So maybe, so, so maybe Hollywood is super, super dirty. The the whole wine scene thing and Pizza Gate and you name it, right? Maybe.
Marty: Yeah. If you go [00:52:00] back too, there were, I mean, there was a, in the seventies and eighties, I believe there was a big like luciferian, like cult within Hollywood, like Sammy Davis Jr.
Right. A bunch of other, right.
Dave: You hear about these, you just dunno what to do with them. Right. But in the Chaos book about Manson, they're talking about all the acid parties and stuff, which the players, you guys like Carrie Grand, Doris Day and stuff, you're going really. , these guys were a bunch of acid heads.
Are you kidding me? You know, so, so I think Hollywood was pretty degenerated. Um, I'm just, I'm, I'm not a very photogenic, uh, podcaster today. I'm having trouble sitting still. And, um,
Marty: no. Then you get in like Kubrick films, like Eyes Wide Shut the, uh,
Dave: oh, that's a weird one. Yeah,
Marty: that's a weird one in its totality, but, or not in its totality and what was released to the public.
But [00:53:00] there's stories that 30 minutes of the film was forced to be cut out because, uh, it sort of spilled the beans on. It's too
Dave: close. Yeah. Well, you gotta figure things like Studio 54 and stuff went down some very dark, very dark paths, you know, behind the scenes. Right. And I think to explain things like Pizzagate and, and, uh, and the Harvey Weinstein, these guys, I think it's, you go down this stark path incrementally.
So you first start out and you're, you just wanna bang hot chicks, right? And next thing you know, you're just getting kink here and kink here and weirder and weirder, and the people around you are signing off on it, and there never seems to be a consequence. So, um, I think there must be a pedophile ring, a global elite pedophile ring.
I think that must exist. And one of the reasons is, is you [00:54:00] read all these stories about the child trafficking problems, the chronic child trafficking problems, and once in a while you'll see a news story where some truck is open up and there's like 40 kids in there. You know, something like that. Mm-hmm.
these kids are not being sold to people living in trailer parks. These are expensive young children. And so then the question becomes, uh, when was the last time you ever heard of a prominent person getting arrested? for signing off on a kid. I mean, answers never,
Marty: never. I mean, publicly in recent years, you had Kevin Spacey, Robert De Niro
Dave: get dragged and look what happened to Kevin Spacey.
Look what happened to Kevin. Kevin Spacey. Four people sue him for bad behavior. Three die in the force. Said, I'm okay. Three of those, three of Kevin Spacey's, four accusers died.
Marty: Yeah. I mean this could potentially even tie into Ukraine. I mean, that was your [00:55:00] signal, signal of the year before February, 2022.
Ukraine was known as this hotbed of human trafficking, drug trafficking.
Dave: And then there's this odd connection where all of a sudden there's qan shaman getting a selfie with a Ukrainian, a off battalion guy at January 6th. What? That was that all about? Yeah. What's the AZA battalion doing at
Marty: January 6th?
Logan, pull up the, this sequence of pictures here. Cause we have, uh, we have part one of the year review. Who is this guy? He's everywhere. He's, uh, in Ukraine. at Capitol Hill.
Dave: I just don't know. He supposedly is a prominent Ukrainian nationalist blogger. He's got a very dis what's he doing at
Marty: six? He's got very distinct features too, which is Right.
If you're gonna send that guy out, he's not easily hidden.
Dave: Oh. And then you find [00:56:00] out, you know, I, I, it was public knowledge, but, you know, Ukraine is the largest owner to the Clinton Foundation. The guy who, who supported a lot of Zelensky real estate ambitions and stuff turned out to be the owner of Barisma.
You know, the, it's just, it's just this filthy, disgusting sort of path of lies. ,
Marty: you got Hunter Hunter's laptop involved with it. I mean, yeah.
Dave: And uh, and then all of a sudden they're doing that 24 hour, I can't remember the guy's name, Noal or something, 24 hour FTX pod, uh, Twitter spaces that I jumped in and listened to for a while cuz it was a very rapidly breaking story.
But all of a sudden they're Hunter Biden's the guest. What the hell is Hunter Biden doing? It was a guest on a Twitter space about ftx.
Marty: Wasn't he pumping his NFTs or something like that.
Dave: I don't [00:57:00] know. But it's still a weird connection. And then of course, you know, Sam Bank fraud, you know, Sam Bankman, freed Fraud, whatever.
Um, Sam bankrupt fraud. Right. Did you know him?
Marty: No. I think you'll be proud to learn that. I've been calling him out for years. He never made any sense to be, I
Dave: think I, I, it's one of those things where somehow, you know, cohos gets credit, but based on what I was reading after that, um, it seemed like it was in plain sight the whole way.
Marty: Yeah. So I started calling him out in July of 2021. He did the c BBC spot with Joe Kernan and Sorkin, the, oh, those are so disgusting. Right. And so I've been blocked by SBF on Twitter for like two years now and. [00:58:00] He, uh, he was doing the spot and essentially he was, they were talking about proof of work, why Bitcoin mining is so energy intensive versus proof of steak, which isn't as energy intensive.
And during that interview it became clear to me that he had no idea what he was talking about. This was somebody as vaunted as the head of the crypto industry. And he clearly displayed to me in this five minute interview that he actually didn't understand how any of this worked. And so that's when,
Dave: so so there was the paradox between the boy genius and then the guy who knew nothing after the fraud broke.
And so you're saying the knew nothing was the actual factual
Marty: part? Yes. And was very clear to me years ago.
Dave: Here's the question is, so he obviously was a front man, we should just talk about it. He obviously was a front man for this gigantic money laundering fe I saw problems with a number of the, the crypto, uh, exchanges and the, the stablecoin things when they were giving [00:59:00] away crypto to open accounts and stuff like that.
And I go, well, then you're under capitalized right away. You're eroding your capital base, your Bitcoin. And then I started hearing about some of these guys using, uh, crypto is their reserves for their stablecoin. I go, this is, there's no chance this is gonna work out Well, no. And uh, and, and, and, but, but it appears as though this thing from the beginning was nothing about crypto.
It was about money laundering from T equal zero.
Marty: Completely agree. I mean, just the whole, the whole origin story of FTX spinning out of Alameda and Alameda, right. Coming to prominence with their kimchi trade where they were arbing the price of bitcoin. Uh, between Western and Asian markets never made any sense.
The, the fact that they were able, right. If, if the trade was even possible, if the trade even [01:00:00] happened, if they actually made money doing that trade, technically possible. But the ability to spin up bank accounts in Japan and South Korea, other, well,
Dave: I put it, they were, I, I said, anyone can pump and dump a crypto, a random crypto.
But they somehow managed to monetize it into real, real wealth. And I couldn't understand how that could happen. No.
Marty: It came outta nowhere within years came outta nowhere within a couple years. Super Bowl commercial naming stadiums buying
Dave: up, and that all costs money, which means therefore
it just is, doesn't add up. Yeah. And then the other thing that's surreal is this parents must have known, so they let their son walk into a shit storm of a higher order. They let their son walk into, into a shark tank to [01:01:00] use Dennis O'Leary's.
Marty: Well, and it seems like . Yeah. Fuck, fuck. What's his name? It's not Dennis O'Leary.
Kevin O'Leary. Fuck Kevin O'Leary. Fucking loser. But
Dave: I shared a stage with him one day at a finance meeting.
Marty: Mm-hmm. is he, is douchey in person as he seems on camera?
Dave: I would probably say so. Yeah. You know, all these hucksters have this, uh, sales pitch that's thick. Right. It's real thick,
Marty: Mr. Wonderful. It's a good brand name to run with, right?
Dave: So then the question is, what, what is missing from the model that basically says, Government funds were laundered into Ukraine. Ukraine then laundered them somewhere along the way with Ft X's help. And somewhere along the way with the, the National Bank of [01:02:00] Ukraine back to the DNC in various packs that the DNC supported or supported the dnc, but they were basically superpacs back to the politicians lighting their pockets and their campaign coffers.
Right? Mm-hmm. , what about this story's incomplete or wrong or whatever?
Marty: I think maybe the order of operations, uh, cause I think the superPAC was the first thing out of the gate right after ftx that be right after Ftx, uh, went live, I believe in 2018 or 2019, that's when Sam's mom and her super Pac raised a shit ton of money almost immediately.
It's an entire
Dave: corrupted family, right? I mean, it's a prof. It seems like it's just this, it's, it's a mafia family, right. Seems like with less moral, with less moral standards.
Marty: Yeah. And then you, you drag in Caroline, his ex-girlfriend slash business partner, CEO of Alameda
Dave: slash [01:03:00] Needs needs some
Marty: shampoo. Yes.
Uh, and her parents, the Stanford m i t connection. Yeah.
Dave: Gensler. Gensler. Yeah. Um,
Marty: it's all rotten. It's free. That's the thing though, like, I
Dave: think that's the way, I dunno if you saw it, but I, I tweeted about it about 24 hours after the, the collapse broke. And, and you know how ignorant I am of crypto, but I smelled the problem right away.
I said, holy shit, this is not the collapse of a just crypto. And I put out a tweet that said, before the story's over, there's gonna be, um, there's gonna be, uh, holds washing up on beaches around the world. Mm-hmm. . So that was my spidey set saying this is not, this is not about some collapsed hedge fund.
Marty: No.
And then only a week later you had the founder of one of the more popular crypto, uh, synthetic stablecoin [01:04:00] wash up ashore. Only days after tweeting out that Masad and the CIA were running some weird sex trafficking in The Bahamas. Black
Dave: blackmailing him. Blackmailing him too. Yeah. And, uh, and so there's this sort of depth of depravity in the geopolitical world, and, and this doesn't even include, you know, the great reset guys who are, seem to be the, like, the pinnacle of evil.
No,
Marty: not yet. I mean, who knows? They could be involved. They could, I mean, that was Sam's brother. So if you
Dave: had to bet a paycheck right now,
are they, did they try to kill us with Covid?
Marty: All right. This one's definitely not going on YouTube, but yeah, I mean,
Dave: you can cut this part out. Pomp the other day did a podcast. He was really funny. He would all of a sudden show up in the movie podcast. He says, okay. Turns out Dave talked about stuff I can't [01:05:00] put on YouTube. And so I'm telling you right now.
And then he'd go back to the podcast and meanwhile I'd be blanked out.
Marty: Yeah, no, I mean, uh, I dunno, I find it hard to believe that the incompetence could be that grand.
Dave: I know I tried to pin down Scott Allison in a Zoom call one day about, you know, fauci s motives. And I, I really couldn't pin him down and he kept coming back to the, you, you cannot fathom the level of incompetence.
So he kept coming back to the convenience story of my opinion that, that Fauci and Berks were just so stupid. I don't know. And I'm going, I, I don't know. I don't know. They could be. But someone from behind the scenes was doing
Marty: something. I was on the fence until the most recent conversation I had with Whitney Webb and one of her [01:06:00] co-authors on one of her recent series.
What's his name? Ian. Ian. Um, last name's escaping me right now. A British guy though, I think. Yes. And nor that conversation, I asked her, do you think it's incompetence or nefarious? And she laid out in a pretty convincing case that there is some nefarious intentions behind all this covid World Economic Forum.
Great. Reset Ukraine.
Dave: So this gets us back to the question of who are the big players? Is this, you know, the US banking system versus the Davos guys? Like Longo says, what do you, what does it mean? I don't know what it means.
Marty: I don't know. I mean, I mean, you go deep down conspiracy theory, rabbit hole. People will talk about the ancient theory.
We've been down there for about an hour now, so I know. Well, we haven't even touched on like the agent families that are really pulling the strings [01:07:00] behind the scenes that Right. Are using all these entities as front men.
Dave: Mm-hmm. . So that's where, well, I even wondered about the Catholic church and, and on a podcast someone said, well, I don't, they, they implied the church was a religious organization.
Said No, I'm talking about the Catholic church. The financial entity.
Marty: Yes.
Dave: The Vatican. The Vatican and the Vatican. It's not about religion at all. It's about the fact that you go into any town and they own real estate in any town. .
Marty: Yeah. And they own, they have the largest war chest of fine art on the planet.
Dave: Right? So, so, so they've been compounding wealth for 2000 years. So where is it? What, what, what strings are they pulling? Then you get these guys, like Archbishop Vao mm-hmm. who comes out and starts attacking W e F and, and Klaus Schwab. [01:08:00] And you're going, holy shit. So I had a, an anti-vaxxer. He is actually anti remes severe guy.
Say he, he said, you really wanna know what I think it is? I said, yeah, I do. He's famous for remes severe opposition. Mm-hmm. . And, and he said, I think it's, um, I think it's the, what was it? The Davos crowd against the church or China against the church. So it's conceivable that the Catholic church is actually represents the power center of the western world.
Well, not shock me. I mean, you had to Well, I don't know where all, where'd all their money go if they don't have it?
Marty: Well, wasn't the weird thing with the Vatican, didn't they recently like tell anybody associated with their bank to or associated with the Vatican, pull the money back
Dave: into the Vatican. Yeah.
Pull the money back in. I think. Yeah. The other thing that's happening that may be related all this is central banks are scooping up gold [01:09:00] to an unusual extent in 2022.
Marty: Everyone except for Canada.
Dave: Do we know that's true? I don't know. Do we?
Marty: I thought they sold all their gold like the last five years.
Dave: It could be, it could be the Bank of England equivalent, right.
Trudeau being a boob.
Marty: Yeah. And uh, no, but certainly Russia. Russia and China have certainly been building up their gold reserves for two decades at least. But they had a
Dave: big, big spike. No, they had a big spike in 2022. , they scooped up a lot.
Marty: Yeah. I mean, there's a lot of talk of the, the bricks go going to a bot commodity back currency, gold obviously would pay a play a big part of that.
Some
Dave: someon of prominence, but it might be prominence in our twisted little digital world. Right. Um, said that he thought that, um, China had something like 85,000 tons of gold. That's 10 x the [01:10:00] US' claim.
Marty: That's, there's a huge number. Not, it's not on their books, obviously, if it's, if it's that big, actually
Dave: it, it's, it's in their state owned industry, supposedly.
So if you, supposedly, if you dig into these big state owned mega industries in China that they have gold staes since they're state owned, they're China's.
Marty: Yeah. But they can you believe those numbers? That's the big question. I,
Dave: no, I don't know what to believe at all. Yeah. I don't, I don't know what to believe about anything.
No.
Marty: At all. So how do we navigate this world? I don't know, individuals subjected to all this
Dave: craziness? Well, we can make the argument of saying, quit doing what you and I do so routinely like a cat chasing a laser pointer and stop paying attention. Just let the world, you know, spin out of control without us knowing, because you say there's nothing we can do.
I [01:11:00] mean, you would say, you know, by Bitcoin, I'd say by gold, you know, that's fine. Um mm-hmm. and uh, so, so it might save our bacon knowing, but it might be we're just gonna be miserable ratches and you know, I'm gonna be 90 and you're gonna be 65. We're gonna remember when we used to talk about all the bad shit and nothing happened.
Marty: right. Ah, yeah. But as somebody with young children, I don't want them to grow up in that world. . Maybe it's, yeah. The naive youthfulness I still have left. That's, we can stick it to 'em. I truly, I
mean,
Dave: well, one can make the argument that you grew up in your world, they're gonna grow up in their world and you don't really have a lot of control over the two.
Right. Ev every generation has their crossed about the dog. The dog movements here are making this a very difficult podcast. Um, here [01:12:00] comes Fiona. Lisa's not Charlie. He's a tank . Um, so, um, it's tiring to watch and also being sick doesn't help me today either, so probably No, you're still on point. Have trouble.
No, you're on point. Yeah. Yeah. Well, my wife said, don't do the podcast. You know how bad you sound. I said I I sound bad every time my podcast. Um,
Marty: I don't know. No, your voice is a little deeper. Bit more. Yeah. I like it. That's good. I like Sick.
Dave: Dave sick. Dave. Sick. Dave has always been sick. Dave , or as I like to say, when they were talking about the symptoms of Covid, I should, but I've always been tasteless.
Um,
Marty: I don't know. I don't like that. I don't like the fact that the idea that maybe it is a fact. Hopefully it's just an idea that these people have [01:13:00] control
Dave: over the outcome of my life. You have control. Yeah. Well, they always have. Right? You can't, the closest you can come is some, you know, 19th century us you know, somewhere.
The American experiment was unique and it's possible. It's just coming to an end.
Marty: Ah, I think definitely. I mean the, and maybe the saving grace is the 10th Amendment, and we hope that states within the United States assert their autonomy from
Dave: the federal. And how did that work? How did that work during the lockdown?
Marty: Florida, Florida and Texas did. Okay. I would say.
Dave: Right. But one of the, you know the book Technocracy by Patrick Wood, he talks about the idea that the globalists wanna get rid of the very notion of sovereign states cuz they're in the way [01:14:00] and that they want regions. And then you start going, okay, let's go real weird and talk about George Soros.
Right. Which I, I really hate talking about George Soros because, because he is a garbage can for bad ideas. But George Soros, he doesn't seem to buy high level politicians. He seems to buy low level politicians, district
Marty: attorneys,
Dave: police chiefs. Right. And, and governors and things like that. Yeah. And that would be consistent with the idea.
They're trying to build a model where everything is being called at the state level. It's not like the governor of New York you'd wanna trust yourself with. No, it's not like the, uh, it's not like, you know, governor of Michigan, California, holy shit. Gavin Newsom. What a nightmare.
Marty: I mean, he is corrupted my hometown of Philadelphia.
He bought the DA there. He was completely eroded any sense of, of justice. Yeah,
Dave: really. And then you've got things [01:15:00] like the, you know, the, the elections still seem terribly corrupt. It seems like this time they kept the noise level down. But, you know, the Arizona elections were fucked up from head
Marty: to toe. I mean, how the hell could that woman overlook an election, her
Dave: own election, her own election?
Right? And, and then you find out that, you know, I guess in an article just came up that said there were 150,000, um, unaccounted for votes in Wisconsin in 2020. They've been able to track down 150,000 people who were not in the state when their vote was registered. Demonstrably in another state, voting in another state.
Marty: I mean, you go back to 2008 and you look at Ron Paul's performance in Massachusetts. I have a friend who actually went door to door. He's from Massachusetts, went door to door in his county, like knocked up, like, who'd you vote for? And like he counted more Ro Ron Paul votes doing that than were actually reported.
Dave: [01:16:00] Well then there's also the news, which to me the, the corruption of the media is our biggest problem cuz they used to be the watchdogs, but the news would talk about a primary where Ron Paul would take second and they would literally skip over Ron Paul and talk about the third place performance. Fox News had Ron Paul on a do not mention him by name list.
Marty: What was he pushing? Revolution . That's, uh,
Dave: he was just pushing, you know, don't spend a lot of money and don't, don't reelect the losers. Right. But, you know, I was just reading an article this morning about how horrible it is inside women's prisons where they're, where they're locking up transgenders
Marty: and they're kinda pregnant
Dave: and, and probably not in the most comfortable form of loving sex either.
No. And the women in there going, what are you [01:17:00] doing to us in here? Right. And most of the women in prisons are probably there for drug charges or something, I don't know. But, um, um, the idea of locking up a transgender to women's prison, it requires. a special kind of stupidity or perversion or something to think that's a good idea.
Yeah. There's just nothing, especially when you get to just declare it. If you were sent on a 10 year prison term, wouldn't you go transgender before you got there ?
Marty: Right. It's uh, of course. Yeah. So
Dave: let me see if I got free room, board and unlimited sex.
Marty: Well, that's, well, that's another one of the theories is that we're basically entangled in a cultural revolution where maybe something like China or Russia seeding these woke ideologies
Dave: into United States.
They've, they've doing it for many, many [01:18:00] years. This is decades. This is not Yeah. Decades. And, and the Saudis made the mistake of handing their educational system over to the Imams and then we're shocked to find out that about 20 years later, all the kids were radical obvious. Yeah. And we handed all of our educational system over to the activists, and now we're shocked to discover that drag shows and weird shit like that are being promoted in schools and transgenders being promoted in schools.
Rachel
Marty: Lev's, the, the hell are here in the United States,
Dave: right? Yeah. I, I'm losing, um, I have no fear of this particular part of the, the world at this point. So back in 2021, I got canceled. It was unpleasant. It was based on nothing. So it made it weird. Um, [01:19:00] but if someone wants to come at me for saying that, you know, you shouldn't let men in women's sports, I'm gonna go to war.
Yeah. I, I am. I promise you, I'm gonna go to war and I'm gonna, I'm gonna make. call out the administrators and say, do you, do you therefore support this? State? It state it. So, so I've thought about this. I said, if, if it ever happened again, I think the first thing I do is approach Cornell and say, look, here's the deal.
I don't wanna throw Cornell under the bus. You guys handle this. Well, I'll just shut the fuck up. It's like the first Gulf War. Remember when Saddam was b throwing scuds into Israel? Oft, I mean, the Israelis knew. Well, turns out that the Israelis never countered cuz we said, look, you take the beating, we will take care of Sonam.
If you join in the war, all the Arabs will [01:20:00] unite. You've got to not respond. And so they didn't. So, um, so if I get in one of these battles again, I'm, I'm just, I think I'm gonna go full goblin on it. Yeah. I think I'm gonna just call 'em out and say, okay, what's time? I, I have this image of, you know, op-eds calling 'em pathetic s sniffling excuses for human beings and real just nasty, nasty, insulting, you know, declare war just full out.
Marty: Well I think, I think that's, if there's a silver lining to the insanity of the world over the last few years, particularly it's, I think the average Joe, particularly with this trans subject is waking up and drawing a line in the sand. Like, this is crazy. Like the whole was the Penn Women's swimming team and think the NCAA is swimming championships when that dude [01:21:00] came in first and won.
Right? I mean, they're literally telling you not to believe your lying eyes. They're
Dave: saying that, did you happen to notice, did you happen to notice how I wrote that up? . Yeah. I wrote it totally sarcastic. I said, congratulations to so-and-so after being beaten by, by Yale's transgender swimmer to rally back to win the NCAA championship.
Right. But, and then, and then I, and then I started talking about well known psychological studies that show that silver medalists are the least happy. The bronze are happy to be on the metal podium somewhere. The golds What? So they're happy. The silvers are like, fuck, I was so close. And I sent him pictures worth of those words.
And I showed the pictures of the swimmers, one of them where this, this girl's doing this really cute feminine thing with this big husky fuck next door, her and the others, where all the other women were together and, and he stand away over to the side. And so they were really saying, fuck you. They, they handled it brilliantly.
Marty: Exactly. Well, that's the point I'm trying to make is like [01:22:00] the powers to be, whether it be the media, the university administration, they're trying to make the average Joe knows deep down at the shit is wrong, not believe they're lying eyes. Like that picture of the podium that you have in the year in review, perfectly articulates like the women who are actually women in this league do not feel like they're being treated fairly.
That
Dave: guy. No. Yesterday I posted a tweet that said it was a collaborative effort to win the internet that day. I'm trying to remember what it was, but it was, oh, Matt Walsh posted a, posted a, a, a, a thing that said, you should be very proud and embedded in it was a tweet saying the first transgender was executed
And then, and then the person who followed him said, but she identifies as alive
Marty: Uh, no, that's, it's funny you mentioned Matt Walsh, cuz I was listening at a road trip listening to his episode of Rogan from [01:23:00] a few months ago. He's really good. And that's the point. They're, they're trying to erode the concept of truth and. objectivity. It's just driving
Dave: the mad. The problem is, is every, every, but that's the problem is are they, when Matt Walsh beats him, has he won a battle but not a war?
I don't know. But that's the risk.
Marty: Well, no, the risk, well, yes, it is a risk. So you win the battle and then it incites a war. Okay? Once a
Dave: while. Once a while, Matt Wal, uh, Matt Wal shows up and fights him back, but they still rotted our brains with this stupid fucking stuff.
Marty: I mean, that's, uh, I mean that's one of the underlying themes that many people are talking about.
Like, Hey, it's getting to a point where you're gonna push people so far to one end of the spectrum that the reaction to that, that forcing into the corner is going to, is [01:24:00] gonna be pretty brutal and swift in the other direction, which is a scary
Dave: properly. Well, I've seen interviews of, of legitimate transgenders expressing concern that it's extremely rare and that this is a problem.
What we're seeing here, Walt Shoes, is this lurid language where you refers to it as castrating people, castrating kids, he calls them.
Marty: I think that's descriptive. I
Dave: think it is descriptive and you know, the double mastectomy. And then you've got things like California saying that they will Doran transitions medically based transitions without parental consent or a sanctuary state.
And I'm sitting there watching this going, okay, so my daughter shows up with her breast cut off having taken a trip to San Francisco or a trip to California, and she's 14. I'm gonna be asking who [01:25:00] do I kill first? Right. I'm gonna be making a list and checking it twice and I'm gonna be asking who, so I get the doctor, he'd be on my hit list.
I'd be trying, I'd send out a private investigator to find out who all the guilty parties are. I just whack 'em.
Marty: Yeah. Yep. Again, they're trying to
Dave: just read this. Do you know if I'm in a jury, I'm in a jury and someone does that, I'm I'm, I'm hanging the jury. It could be a brutal slang. They're not getting my vote.
No, you have a blank check outta me.
Marty: It's, uh, but again, they touched on this, in that Rogan discussion, like they're, they're trying to redefine like the parental child relationship where Well, yeah,
Dave: they're trying to take him out and this is very Stalin shit. I mean, this is really bad. It's this authoritarianism.
So that's why last year I spent a hundred [01:26:00] pages writing about authoritarianism, but I didn't spend any time this year because I got the message out last year.
Marty: Okay. I guess you can mention, you could say the, the Canadian topic was,
Dave: oh, I, yeah, that was definitely, I beat Entreo pretty hard on that one. Yeah.
And it was an important topic and it was, it was nice and neat and orderly. And
Marty: Do you believe he's Fidel Castro's son? Yeah, I do too. We call it the Cuban, the
Dave: Cuban nipple. Uh, one of my li one of my links was to a guy who dug into it deep and, and he came out of it saying, yep. Looks like it. Is it? Yes. He sure doesn't look like his father.
Marty: Yeah. He is got brown nipples. It's the Cuban Nipple crisis. He's his armed French Canadian nipples
Dave: That one went by me the first time you used it. I didn't, uh, it just didn't register. Um, he just looks like him. Yeah. [01:27:00] And as I said, there's Margaret Trudeau with her hand, right. At Fidel's chest. Mm-hmm. . And I'm, and you know, as I said, I learned this in college. Some chicks got her hand on your chest, you're gonna get laid.
Marty: Yeah. Hand on the back. You're good to know. Not as telling hand on the chest. It's in the bed, you're,
Dave: you're gonna score. Yeah. That's, that's, that's inside the personal space zone. Yeah. And, uh, I don't
Marty: know. So what do you think 2023 is gonna be more chaotic?
Dave: I think it's gonna go back to finance. Yeah. I think we're gonna, I think we're gonna have a financially chaotic year.
What? Uh, so I think, I think it'll go back to central banks and collapsing markets and things like
Marty: that. Anything we get recession and depression.
Dave: Yeah. But my base model, as I've told so many, and it seems I can make the case trivially, [01:28:00] but it still catches people by surprises. I think we're looking at an epic secular bear market that could last decades.
Decades. What a lot of people don't know is decades is normal. Dec multi-decade. Bear markets are normal. They are not outliers. They're not rare. You, if you own the market in 1906, the price of that market in inflation adjusted dollars was identical in 1981. That's identical. Same with 1929, the 81 bottom came back and hit all the highs of the entire 20th century.
No one knows that they do now, but Yeah.
Marty: Yeah. I mean, it seems. like the holidays imaginable, isn't it? Well, it seems like [01:29:00] Christmas, new Year's was a nice lull. People going home trying to enjoy family, but we're being thrust right back into it. We had a good quote, unquote good jobs report yesterday, which of course is another manipulated metric, but that is what the Fed is dictating its policy on.
So it seems like rate hikes are here to stay.
Dave: Once you're profoundly overvalued, there is no escape route. This is like a guy who weighs 1800 fucking pounds. You can put it there. There's no Weight Watchers program for that boy. No, he's just gonna die. He's just gonna die. I,
Marty: and so what do you bullish on energy?
Dave: I, I'm bullish at some level. I'm bullish on nothing because I think all boats sink. You know, I, I think, I think all Hussman is very clear on that point when, when you start selling hard, every valuation decile on the planet [01:30:00] drops because it just, there's just a rush for the exits in everything. So it's an attempt to go straight to cash.
I did an analysis one year that was really interesting. I said, imagine you have a 50 50 portfolio, let's call it a binary world cash equities. Cash could be an interest bearing cash, but cash inequities. And all of a sudden you say, you know, I ought, I had to go up to 60 40 equities, right? And, and it turns out that if you buy your equity, you buy more equities, someone else sells 'em to you.
So there's no net change in the cash in the system. There's no net change in the equities in the system. It is simply the price of the equities that'll get driven up. Now, if the market collectively decides 60 40 is a better number than 50 50, . What'll happen? Well, they were at parody [01:31:00] equal amount of cash, equal amount equities globally or pick a unit of space.
I don't care. Now at 60 40 machines, you just made a 50% gain simply through asset reallocation. Mm-hmm. , there's no change in the amount of cash in the system. There's no change in the amount of equities in the system. You simply bid up the equities to be a higher price due to the desire to have more equities.
The equilibrium ratio will be 60 40. If we collectively decide 60 40 is the number. So then let's say you say, wow, that worked really well, buck and a that was great. I made 50%. Equities are a really good idea. I'm going to 80 20. So imagine the market collectively says, believes Jeremy Siegel, who I think is a bit of an idiot, and uh, says you should have 80 20.
Why have cash? It's a waste of, it's a waste of fucking opportunity. The market goes up to 80 20. Now we're talking about the, [01:32:00] there's still the same amount of cash. Just cuz we swapped cash for equities doesn't mean cash appeared. Well now the equities have now been bid up to four fold. You've made, um, 400% it, somebody threw an attitude change.
No wealth creation, no increase in quantity of money in the system, but quite explicitly not. And then she say, well, this is phenomenal. The market collectively decides why have any cash at all? Why, why not be an equity maximalist, let's go a hundred percent. The equities go to infinity. But of course they won't.
But when they, when you, the guys on the CNBC talk about money flowing into equities, , do they ever stop to think that money can't flow into equities? There's little shit around the edges. Like an I P O for [01:33:00] a company that, no, that previously didn't exist. Mm-hmm. . But if you have a 500 share of stocks, you have a fixed amount of cash in the system.
There's no change in, in money. Cash doesn't flow. If I, if I buy equities cuz I want more equities, someone's gotta sell 'em to me. You know? And they say, oh, you know, the, the buyers were out number, apparently the sellers were too, cuz we didn't buy 'em from a fucking pumpkin . Right. And so the gist is that we bid the, the various asset classes, I think it was like balloons in a closet.
Mm-hmm. . And the pressures put there, the, our desire for the different allocations makes one balloon expand at the expense of the other balloons and shit like that. But, um, so now all of a sudden you have a bad fucking time and you go, oh man, 80 20 is not a good idea. I better go back to 60 40. [01:34:00] I am better.
Go back to 50 50. You just roundtrip the whole fucking thing. You're back to where you started some number of decades later with precisely zero gains. Now the story gets complicated when you start talking. So what, when the fed pumps money into the system, what are they doing on a 50 50 portfolio? They're raising the quantity of cash.
So as people say, I want 50 50, they'll bid up the equities higher. So that naturally pumps the equities. So instead of a, let's call it, you know, 50 trillion in cash and 50 trillion inequities, they put 10 trillion of cash in there. Now equities will get bit up to 60 trillion to get a 50 50 portfolio if that's the collective wisdom of the.
And this idea of I buy you sell is lost on so many people. So when some knit went on cnbc, who's paid way too much money, says money's flowing into equities, there is no flow. Now you can [01:35:00] make a subset of the equity market and say money's flowing into equity. Mutual funds. Mm-hmm. . But that's just when, when, when, when, when you buy it in the mutual funds, someone else sold it from somewhere.
It's just semantics. It's just semantics. And so the bottom line is, is if we go from a point where we think equity sucked, 1981 to equities are wonderful, 2022, that 42 year period, it turns out that of the gain of that 42 year period equities, 3% per year, annualized 3% was valuation expansion. Just froth from, mm-hmm.
no froth. The lots of froth. If that unwinds, what would the next 42 years get? Bring us. Well, what if it unwound by dropping 3% a year for 42 years? [01:36:00] We now went from a 3% tailwind to a 3% headwind. It's a net 6% up your ass. Warren Buffet laid this all out in 1999 in his article, he said, what? What drives equity prices is interest rates.
He says, when rates are going up, equities are going down. When equities are going, when? When interest rates are going down, equities are going up long term. That's the whole game. Yeah. It's been appling. Now here's the problem. So people say, oh, this correction's over, and I go, let me see if I got this right.
You're saying that we've scraped off the froth from early 2021, mid 2021. That's your bear market. We took off 18 months of froth and that's
Marty: it after we expanded the monetary supply by 35% .
Dave: Right. So that's all just inflation though. Yeah. So that means it's a totally [01:37:00] illusionary price at that point too.
And so then the question is, where's fair value? And I have fair value at approximately one 50% a a a 50% drop from here. The market's cut in half get you to a market valuation that for the first three quarters of the 20th century was considered normal.
And if you, one time a really, really, really famous smart guy said, well, what if your valuation metrics are now wrong? And I said, then you're as, that could be true, but it also means there are four year assumptions about returns are wrong. Cuz if I'm paying, let's say PE of 10, if I'm buying assets with a pe, forget about the fact they're fake numbers now, but let's say they're real PE of 10, I'm buying into a 10% return.
Right? It's gonna kick off 10% every year. By that model, if you pay twice that, you're gonna get a [01:38:00] 5% return. So if you buy assets for twice what you used to pay mm-hmm. and a half what you used to earn, and therefore all the assumptions about pension funds and shit all fall apart. They all fall apart.
Marty: Well, that's the inter is it, is it an interesting predicament that we find ourselves in? Well,
Dave: it created, it took 40 years to get
Marty: here. But if we have, I mean 40 years to get here in unprecedented monetary policy, like
Dave: Right. But once you're overvalued, you're the 1800 pound guy. You go, well, how do I get back to 200?
You go, I don't, I don't know. Cuz your blood's gonna go toxic. If you go on a diet. You can't get back from 1800 to 200 without all your organs failing. The analogy's not crazy. I just made it up. But, you know, it's, it's not a bad analogy.
Marty: Yeah, but wouldn't that make the case for a [01:39:00] fast and rapid decline?
Dave: Probably. The damage will be incredible. Yes. I would love a fast and rapid decline. I would love a very, very quick brutal bear market. The problem is the quick ones don't do it. They become flesh wounds. So if it drops real fast, you have time to register and you go, okay, we're at the bottom. I can't sell now, therefore I'm a buying hole.
What, what changes, what really sets the real bottom in a, in an asset market is when you demoralize the fuck out everywhere. I was a gold bowl at the bottom of the gold market. I was buying gold from two 90 down to two 80, down to two 70. And then I stopped because I couldn't take, meanwhile the Nasdaq was going up.
I said, I I just can't keep buying it on the way down. And I was doing a podcast with the Corland economics report and they asked me about the gold market and I said, something has changed. [01:40:00] And they said, what's that? And I said, well, the Bank of England announced for who knows how many times that they were gonna sell gold.
And the, the price of gold went up, not down. And then I said, the Bank of England then went and actually sold gold and the price of gold went up, not down. . And so I, I said, I think something has changed. That was with gold. I, I had gold at, you know, gold got down to 2 56. It got back to around 300. And my friends were all saying, sell it.
Sell it grabbed the profit. I go, no, I don't think it's stunt. I was buying, I was buying ounces of gold for cash from a local coin dealer.
Quick diversion from where I'm eventually heading. He, uh, he was this [01:41:00] amazingly honest guy who grew up in the most awful childhood c circumstances. And I trust him to the point that I loaned him five grand. I didn't need a receipt out of him. I just trusted the guy. And he couldn't rub two nickels together.
But he had this little coin shop. And then one day I was buying physical gold from him. This is much more recently than where I'm about to go in a minute. And I gave him 12 grand to buy gold. And he gets to the front, he gets to the door of his coin shop and some guy jams a gun in his rips and says, give it to me.
He got robbed. He calls me and immediately I realize something bad happened. So I said to him, this is so fortuitous. I said, look, don't worry about me. I'll be fine. Figure out the rest of the shit going on in your world right now. [01:42:00] And, uh, we'll talk later. So later that day, I called him, name was Carl. I mean this guy, he had two kids with cystic fibrosis, six kids.
And he lived in a house for which he had a second mortgage. The house is appraised is by 20,000. He's living in a chicken coop.
And he says, I'm just pacing around my house. . Then I started trying to give him some soothing term words and then, then that day or the next day, committed suicide. Oh shit, I had people tell me he stolen. I said, no, he didn't. I think his wife who's gonna run off with another guy, set it up. That's because not many people had to know that he had gold.
Now here's the deal. So years back now, dial it way back. That was back around 2012 or something. But I felt that my wife got mad at me. She said, you lost $12,000. I said, my dealer's dead. You gotta keep this in perspective. [01:43:00] And um, so, uh, so I'm buying gold off at 4 57 an ounce paying cash, and he knows I'm gonna buy it.
So he is not trying to sell, turn me off or turn me on. And he said, don't you think this is the top? And I said, let me ask you a question. How many people are buying gold from you in your coin shop? He said, uh, he does some quick math. There's four of you. And I said, the other three are my friends, aren't they?
He said, yes. I said, does that sound like a mania to you?
the only guys who were buying golf from him knew me. So then gold shot up to 1900, then it came back, and then around 1200 I bought a bunch more. And you know, gold's not a great way to get rich, but in this fucked up world, it's not a crazy way to hide from the real bad shit. [01:44:00] Yeah, I was buying silver at three 50 ounce.
Marty: What said I not like 20, 26,
Dave: 24, somewhere in there. Yeah. I mean, it hasn't been a great return over two decades, but it's still, I still beat the s and p 2% annualized from 2000 to 2020. with a very unorthodox portfolio. Um, but, but I think we could have a nek like bear market. It was simply uninvestible.
There was no way to make money in the Nek from 89 till whatever. For all I know that Nika is gonna go back to the bottom again. There's nothing that guarantees it can't return
Marty: there. I mean, the Bank of Japan just announced more emergency buying,
Dave: right? There's something going on in Japan, by the way, right?
There's something going on. What
Marty: is it? You know? Oh, I think , the back of Japan just [01:45:00] owns too much of their bond market. It's up to
Dave: 50% of the, I know they're the bond market. There, there are days where the Japanese bond market trades no bonds. It's that, is that broken? Yeah. But, but the question is, is something happening in Japan that we're gonna find out six months from now, what it's got kind of a repo spike flavor to it?
It really does. I mean,
Marty: could it be the product of their terrible demographic situation that they're in simply
Dave: could be, uh, could be a product of their terrible monetary policy for 30 years. Yeah. I mean, and that's at some point, at some point the house of cards. Just let's rip. I was one time I was listening to a podcast and Bill, not Bill Russell, who's the Russell famous Russell.
Russell, um, the Dow theory, Russell, Hey man, Russell, um, someone asked him, [01:46:00] why can't this go on forever? And he said, go in your kids' room and start stacking blocks and just keep stacking them what happens. And then you realize the higher the stack, the further from equilibrium you are. The more shock sensitive, the bigger the pile of debris.
It, it can't work. The tiniest little flicker butterfly flapping its wings over. It goes, it's a good model. When the chemist gets far from equilibrium in a lab, they blow up the lab. Right. Avalanches. Or when there's just too much fucking, so you go, well, why, why can't it just build more snow? And you go some point a vibration's gonna let that rip.
Yeah. So unlike the Federal Reserve, you know, they throw up little sticks of dynamite to try to get the snow to fall during a time when it can't do much damage. But our Federal Reserve passed on countless opportunity since oh nine to [01:47:00] Renormalize, and they were all fucked up in, they were all fucked up in oh seven.
So it's not like they hadn't fucked up already, but they weren't super fucked up. I mean, the bailout costs 30 trillion. Was there anyone in the world who saw that coming? No. Nobody. Well, 30 trillion means the system's on a, on a life support. It's, it's intubated. It's, it's,
Marty: yeah. Right. I mean, I think Anne Quinlan, I think the economy went on hospice in 2008 and it's still on hospice, just waiting to die.
Dave: It's mm-hmm. and, and you know, um, I think it was Karen Anne Quinlan, who they took her off the breathing device and she stayed alive for another 10 years or something. You don't, oh, . Um, there was one of those stories where the family [01:48:00] was convinced that she was responding, that they were seeing response.
They didn't wanna pull the plug when she finally died. And I'm not sure this is Karen Anne Quinland or someone else. Um, I. , they did an autopsy so that part of our brain was gone. There is no chance that that person was responding. So the family was just seeing things they wanted to see. Mm-hmm. So, so I think we are so far off the deep end monetarily.
Value wise debt what? Two quadrillion dollars of derivatives. When was the last time someone created their derivative that served a function? I mean went They're just trading chips. Yeah, they're just trading chips. But they used to be insurance policies for farmers and stuff, but they're not that anymore.
They're just trading chips. They serve no [01:49:00] fucking purpose. Now they're so important now because you can't get out from underneath them. You can't just pull 'em away. You must have been in a brace off and on in your life as an athlete, right? Yes. Once you're in a brace, it's a bitch to get out of.
Marty: It really is.
Dave: I was actually telling because your brain says, holy fuck, I'm unprotected, my knee is vulnerable. It's creepy to not to be playing without your brace,
Marty: right? Yeah. I tore my a C l. I know that feeling. There's nothing like tearing your ACL to make you realize how much you don't. Uh, you don't appreciate a fully functioning body when it's fully
Dave: functioning.
Yeah. Well my wife appreciates that too. Now ,
Marty: well, this all gets back to like an interesting question too. Like if this house, cuz you have the crazy valuations that don't make any sense. I have no semblance [01:50:00] or connection to reality. And then you have the monetary policy going alongside of it, which is probably driving insane valuations and it seems like essential banks are out of options.
and they're just simply trying to extend hospice until, um, until who knows when, but just as long as possible. Like to ha does this, like, if this does blow up, I don't think we're gonna get a soft landing. Like, does this change how people, like, you're talking cash, 50% cash, 50% equities throw bonds into the mix.
Like, does this change how people actually save and invest their capital? Like is it gonna completely perturb people's ability
Dave: to, well, here's the first big ation. If the markets are 50% overvalued, and if the bond market's 50, uh, not a hundred percent overvalued, 50% drop. If the bond market's a hundred percent overvalued [01:51:00] because of where inflation is or where it normally is and stuff like that, that means that the world thinks it's twice as rich as it really is.
Everything's mispriced. So if I tell you, you, you, you, so, so I talked about inflation. There's a thing called Doug Nolan calls mindness. If you own a hundred million yacht, it's not money, but you're not gonna spend, like, you don't own it. So if you're making 50 grand a year and you happen to own a hundred million dollar yacht, you're gonna go, oh, I couldn't give a fuck about it.
I've got a yacht. I can always sell it. So within, for example, the Huddler community, the perceived wealth, wherever it is at any potent time, influences spending patterns. So Bitcoin is money because it influences how you think about how wealthy you are. [01:52:00] And it, it, it, and, and it's true with gold, and it's true with housing, and it's true with actual treasuries and, and the only thing that's really money is the shit coming outta the cash machine, basically, right.
but you perceive you have it and therefore you act accordingly. If all of a sudden the value of the world cuts in half, think of the psychological effect globally. Yeah, it's humongous. Be a lot of bell tightening, a lot of bell tightening by the way. You know, there's these guys who say, you know, if everyone's talking about a recession, then it can't be because that's a contrary indicator.
I go, no, no. When people are talking about a recession that causes recessions,
Marty: self-fulfilling
Dave: prophecy, it's a self-fulfilling prophecy. It's not a contrary indicator. Contrary indicators, when everyone's bullish, there's no buyers left. But everyone says, we got a recession coming. That means they're all batting down the hatches.
That means we're [01:53:00] gonna have a recession. Yeah. If you start spending thinking of recession's coming, if we all do it, we are gonna get
Marty: one. I mean, signs are everywhere. I mean, one could ar everywhere, one could argue like Bitcoin and quote unquote, crypto is a leading indicator. It will sell off first and has, I mean, Bitcoin's down, what, 60% year on year.
Right. Um, and you, you look at the real estate funds, they're having to pause redemptions. That's obviously a signal of,
Dave: that's a bad size, especially within the BlackRock real estate funds. Right. These are not, these are not little Penny
Marty: Annie funds. BlackRock, Blackstone, I believe Barclays even. Yeah. It's, uh, yeah,
Dave: that, that in the real estate, it had to be screwed up because the lockdowns fucked everything up.
So there's no way the real estate wasn't screwed up. No. Then you
Marty: compelled that with the rising interest rate environment and Right. If you
Dave: had that variable interest rate. So I, I like to [01:54:00] marble at the fact that, um, before the late seventies, no one thought an inflation and stagnation went together. They thought the only way you get inflation is when you have an overheated economy.
And I'm sitting there thinking, okay, let me see if I got this right. The, the geniuses of the world did not notice that if the same amount of income bought 10% less goods and services, that that wouldn't be stagnating. . I go, you, what are you guys paid for? I mean, this is Assine. So the fact that stagflation caught them by surprise is absurd.
Yeah.
Marty: I mean that seems to be where we're headed to. I mean this Oh yeah. Decreasing inflation rate. Maybe a temporary lull.
Dave: Shit. It's it's not like your credit card debt, which I don't have any fortunately, but it's not like credit card debt. They're all of a sudden gonna lower the interest rate. It's to lighten your load.
[01:55:00] Right? No, not gonna happen. So the people with credit card debt are gonna be bent over a barrel like there's no tomorrow. And remember all over Twitter, two years ago, the number of PPG talking about how, oh, inflation should be great because we would erode the debt on my mortgage. I'd like to ask him, how's that working out for you Now, , right?
Is your mortgage payment smaller? Yeah. Are you having an easier time paying it while your tax based taxes are going up? While your food costs are going up, while your maintenance costs are going up? How is this whole inflated away my debt model working? Eh, not very well. Yes, there enough. It was a stupid, stupid fucking idea.
Inflation is never good.
Marty: That is just money we owe ourselves though. We just owe ourselves a debt.
Dave: Right? But what if, [01:56:00] what if I owe you a thousand bucks? So you're a thousand bucks Richer. But I don't actually have it. Yeah. .
Marty: I mean, that's the problem. Yeah. I mean, everybody in crypto's finding this out. Oh, I have,
Dave: well so I had some of the LER podcasts, I'm trying to use the word hudler, not hudler for you, in, in honor of you.
Um, and it was before the shit started hitting the fan and they were saying, well, why would Bitcoin go down in a recession? Yeah, I know . Why would Bitcoin go down in a recession? I said, cuz everything does, everything does. People have to eat. People have to eat. And by the way, I said, you know, you bought that fucking house and all of a sudden that mansion you bought, which you didn't sell Bitcoin because you thought, well it's making me rich and therefore I'll just get a regular mortgage.
I'll hang on to my Bitcoin. All of a sudden there's the Bitcoin isn't there to [01:57:00] back your monster mansion and you start panicking. Right. That's what happens. Yeah. So the problem with the HOK community, revolutions are fueled by youngsters. So the Hitler community is exactly what you expect out of a revolutionary technology bunch of young guys.
The problem is you're the Hitler community is also the greenest investment community I've ever seen in terms of understanding market structure, . So they just had no idea that markets could rip your ass off with one bite and they just didn't understand that. You know, I was at dinner once and this year and some young punk was spouting off about the great, um, was a hedge fund dinner.
Some young punk was spotting up about the, uh, the great profit margins of tech . Now profit margins are [01:58:00] mean regressing cuz as soon there's a profit margin to be made, someone's gonna come along and say, oh, I want some of that too. . Next thing you know, the margins have been squeezed down by the miracles of the free market.
Here's a lower price, here's a lower price, and we can make money at this lower price. Right? And uh, so this guy's sp off about this shit and Einhorn, who's normally very quiet, like, kind of loses his shit a little bit. He says, you have no idea what it feels like to ride a position down 90, 90, 90 5%. He says, you know what a 95% loss is?
It's a loss that's, you've lost 90% and then it cuts in half . He says, you have no idea what that feels like. Swift kick in
Marty: the dick.
Dave: Yeah. So, so we have very few people on the surface of the earth. Well, very few people in the continental United States, let's just stay there. Who know what inflation feels like they're getting [01:59:00] educated daily, but going into 2020, they didn't understand inflation.
They didn't understand what it feels like. They didn't understand that your salary will never keep up with it.
I think the most, and that's how access or revenge.
Marty: Yeah. I think one of the most shocking lesson of the inflation we've experienced the last two years is maybe, I mean obviously prices going up sucks, but inability to actually access goods. , like the good's not showing up
Dave: well. So this is a weird inflation, this is a little bit like the inflationary crisis of seventies to the extent that you couldn't get gas.
But it's, it's, um, and the inability to access goods is a little mysterious cuz I look around the globe and I can't identify what it is that's stopping goods from making it to their destin. . There's just something. So, [02:00:00] so basically my sort of base model is that you can't just turn off an economy and put it on blocks like a car and then just take it off the blocks.
Expect to drive away.
Marty: Well, especially an economy that was really pushing just in time supply chains.
Dave: Right. And so, you know, they talk about, people talk about strong labor markets. They go bullshit. It's a broken labor market. There's nothing strong about it.
Marty: Well, I mean, it's broken. Nobody ever wants to bring up the participation rate , which is Right.
Dave: Right. Which is low. And, and it means that the buyers and sellers of labor can't, can't, can't meet. They're not meeting the free, the price discovery is nonexistent. The buyers of labor can't meet the price that the sellers of labor are asking. That's a broken market. Yeah.
Marty: The money's broken. That's what
Dave: happens.
And that will fix, there's your, I can hear you hobbling in the background [02:01:00] there. I can hear you well. You'll be,
Marty: you'll be happy, Larry. I'm not as green as you think. I don't have any credit card debt and I don't have a mortgage.
Dave: Um, luckily Did you pay off your mortgage with your, uh, with your profits? No, I
Marty: moved down to Austin at the peak of the real estate boom.
I was like, I'm running. Um,
Dave: interesting. Okay. I'm not getting along Well, I don't have credit card debt or mortgage either, but I'm also an old man. You know, when, when the oh seven crisis was coming, here's my timeline in oh two, I wrote about it and I called it, I sent an email to a friend of Goldman. I said, JP Morgan, I thought JP Morgan was gonna go down.
But I said, the banks are gonna go down. General Motors is gonna go down. General Electric's gonna go down. I laid it out. The only thing I got wrong was I thought JP Morgan was gonna go down and they were the only survivor. Um, In oh seven, March of oh seven, there was very little of anything showing the real estate market had peaked in oh six, [02:02:00] but it kind of went unnoticed.
In March of oh seven, I'm standing in front of my class of organic chemists and I turned to the class. I said, I think the banking system is about to collapse. This is Pre Bear Stearns internal hedge fund problems. Which they started asking, saying us a 600 million hedge fund. Who cares? But it really wasn't the problem.
And so I turned 'em and I, and I told them, I literally said, I, you could actually read Reach a point where you can't, you go to the bank, you can't get money. And they were just stunned. And they went back to the lecturing. And then I taught, um, and what I was picking up turned out to be some smart guys who were saying we got problems, right.
And we were hearing a lot of guys were writing about the Ninja Loans and the 125% mortgage and shit. So that was obvious. But there was um, a blogger named tta, Doris Stuy, [02:03:00] who was blogging under the name pseudonym, TTA over at I think Seeking Alpha one of those. And she was talking about the chaos under the surface of the credit markets.
And there was this thing called the Market ABX Index, which is a derivatives index. And I had no real idea what it was, but it was trading at par for years. Then all of a sudden it started tailing off, which meant that it was responding to credit risk and it was not being picked up by any of the mainstream press or anything.
But Tanto was picking up on this. And I think, I'm not sure Zero Hedge was on that or not, but they might have been. Um, and, uh, I can remember Zero Hedge, where Zero Hedge would get, you know, a hundred clicks per article. It was way, and I remember thinking, these guys are really fucking smart. And, um, and so, um, then it showed up and then it took like in [02:04:00] eternity, if you've ever waited for a hurricane, for example, which I did, once you keep watching the weather going, is that it?
Is that it, is that it? And it took about two years to really show up in Full Force. And, uh, for my two years later, spring semester, again, we are at peak chaos at this 0.09. I'm teaching an honors thesis class where it's the seniors, the best seniors for day one. I said in oh seven, I had you guys in Sophomore Organic Lab.
I told you the banking system was gonna go down, didn't I? And they said, yes, you did. And I said, did any of your economists tell you that they, they, they double major in e ecolon? And they all said No. And I said, what are those assholes paid for? And then, uh, my first guest speaker had one class a week and I bring guest speakers.
My first guest speaker was the c e O of Morgan Stanley Bank. And he came in and he gave [02:05:00] a horror story of what was happening. He had cut his teeth on mortgage backed securities. He had left Morgan Stanley Bank, which is the banking subsidiary of Morgan Stanley in oh six. Cuz he said, holy shit, I have to get outta the splash zone on this one in a very big way.
He said he had a, he described the leverage he had in a billion dollar portfolio and I did some quick mask and I said, you were 2 million fold levered. And he said, that's about right. Holy shit. And then, and so he had no backing. It was pure leverage. It was just pure unbacked leverage. And, uh, And then he, and then he, and then these were synthetic derivative.
These were, these were cubes and shit. These were crazy, crazy things. There was nothing backing them either. So, so your young hustlers might not even know this, but, but what they used to do is the bond rating agencies, if yet, if there were treasuries, you'd get a AAA [02:06:00] rating. And if there's something else, double A and you worked on, and then there was the junk and the bond rating agencies were being so generous that if you took some pile of garbage and you, and you put in 2% treasuries, you'd get a triple A rating,
And then what they'd do is they had these things called squares, or they would take these various tranches, these mezzanines, there was a mezzanine tranche, I can't remember the shit anymore. And they would sell the shit they could, and then they'd take the drags at the bottom from a bunch of these and they'd pack 'em back together and sell that.
And then they had these, these called cubes, which were the third recycling of the drags . And they had things called CPDs, which were, um, which were, um, were derivatives of. What the fuck were they? They were like derivatives of derivatives. I, I can't [02:07:00] remember. They're a absurd thing you ever heard. I'd have to look it up again.
I knew what they were when, when they were happening. And so in any event, so he gave a two hour talk to my class. And what was one of the greatest compliments I ever got was he said, so I'm sitting at the table with Dave and Brian here. Brian was, came with us and he said, within about 20 minutes, he says, I realize I was not the smartest guy at the table.
And uh, and then, um, and then I had come armed thinking he might come in with some bullshit. He showed one plot that was. Infamous plot showing the subprime crisis in, in, in living college. I brought that plot myself. And then as a credit Swiss plot, some people might remember it and you could see the subprime what just coming at you.
And then, uh, and then, um, and then I bought a whole bunch of other things. I said, can I, at the end, I said, can I give you my shot on what the hell's going on now? And I went, [02:08:00] bam, bam, bam. Overheads. They were overheads to give you an idea. And, uh, and uh, I asked, um, rich, you like the, the former ceo? I said, 10 years from now is New York.
Is this all a memory or does New York look like Detroit? And he said, New York looks like Detroit. So he didn't see the Fed coming either. He saw complete destruction. And the Fed came in various central banks with 27 to 30 trillion of stimulus. Nice euphemism for money printing. Yeah. And that's how I saved the system.
They can't do that again, in my
Marty: opinion. I don't think they can either.
Dave: For those now without triggering hyperinflation.
Marty: Yeah, exactly. For those curious at home, she which destroy,
Dave: which destroy societies, [02:09:00] destroys the fabric of society. Yeah. Fuck
Marty: for those wondering at home, a cpdo is a constant proportion dead obligation.
But I mean, yeah, they can't, so what do you think it is this time around when they actually do go to bail, bail out? Is it too much money in the system or is it a collapse in confidence by the populous? Like, oh, we're doing this again Because I, I don't know, because actually I recorded a podcast right before I hopped on with you on the weekly shows that I do.
We brought up a clip from 2008 of the, uh, indie Mac Bank run. . Uh oh, I
Dave: remember
Marty: that one. Yeah. And it was just astonishing being like, oh, this was not that long ago. And it wasn't like a prototypical bank run in the
Dave: US When, when you, when you, when, when Geitner and these guys are combining mega banks together to try to come up with a functional system.
I mean, that's a weird world. Yeah. I was sitting [02:10:00] with the assistant provost of Harvard in my office during the peak, and he somehow realized that I wanted him to speak, frankly. And he said, we don't know how we're gonna make payroll. Harvard.
They got a $40 billion now. But it wasn't liquid. No, I mean that's, that gets back to this idea of mindness.
Marty: Yeah. I mean, this is the lesson. I go back to the real estate funds right now. People, they're finding out in real time how illiquid real estate is particularly environment of rising rates.
Dave: Yeah. Go take a, take a vacation down in Turks and Caicos.
Look at all the buildings that are half built on the islands. Just drive all these, there's all these monuments drive
Marty: down the street here in Austin. It's the same thing. Facebook just pulled out of the, the skyscraper that they were in the process of building.
Dave: Really? Yeah. Well, the Ithaca Mall is a ghost [02:11:00] town.
Not as big a loss as we're talking about. But there's something so depressing about going into the Ithaca Mall and seeing 20% occupancy and having the sense that this is not because we created something better. It's not Amazon. It just, I don't think Amazon's better. I've made the argument many times.
Sears robot catalog was as cool as Amazon. Um, when I drive by, On some highway somewhere or something, some back, I mean, pseudo highways, the ones that you know, have intersections occasionally. So through the Adirondacks or whatever, and I see some boarded up diner, Linda's diner, whatever. It really digs into my soul because that was someone's dream.
Someone really desperately put all their sort of sanity on, this is my diner. I've, I've, I've, uh, [02:12:00] I've died and gone to heaven. I've, I'm finally living the dream. I've got my own diner, and there it is, boarded up. And, and that certainly that's what the lockdown did. And that looked like a controlled demolition.
To me, it looked like it was absolutely intentional. Oh, I
Marty: mean, the arbitrary nature of the arbitrary who was, who was essential.
Dave: Yeah. And shockingly, the big, the s and p 500 companies were essential. That was a complete hostile takeover of mom and
Marty: pop airlines for essentially pack people in like sardines.
It's, and uh, I mean that, that, that's another point in the basket of this thing being nefarious, like Right. How do you gain more control? You destroy the backbone of the society. Small businesses, right. Was extremely sad is that everybody stood by and let it happen. And not only that, but uh, publicly [02:13:00] lamb.
Dave: Well, I remember watching it and there was a lot. There was just nothing you could do.
Marty: Well, that's going back to like locality. We escaped Brooklyn went to South Jersey down by the southern tip of Cape May. Down there. You
Dave: wouldn't have, I have a friend down there, I have another friend down there.
Marty: Restaurants were open. Yeah, they had the stupid plexiglass dividers, but they stayed open.
Dave: No mess. You go up to Maine or something, you'd never know there was a pandemic. Yeah. Um, in a podcast one day. I said, if it ever gets really ugly, I'm gonna go find someplace where everyone's toothless , and they all voted for Trump.
And, and just hang out there. And some guy in the comments section said, well, Dave, I live in one of those places and you're assuming that you'd be welcome. Yeah. At least I'm going. Yeah, that's a good point you make there, dude.
Marty: That's part of the reason I, uh, stuck out in Texas as well. I mean,[02:14:00]
Dave: what's your wife doing?
Marty: She's stayed at home. Mother. She's just a mom. Yeah. Yeah.
Dave: Um, um,
and these trying times in these trying times, and they haven't even started to be, the other thing about this particular downturn is we've never entered a downturn so pissed off at the world. Right, right. This one, normally you're euphoric. Right? Dot com Everyone thought the world was just Absolutely. You know, Skittles, rainbows and sunshine, roaring twenties.
Everyone, everyone's fucking mad. Right. Greg Gas me. Everyone's mad. As a basal level of anger at the top, what's the bottom gonna look like?
Marty: That's a good question.
Yeah. I mean, is this the catalyst for revolution people have been talking
Dave: about? [02:15:00] I don't know. See the question, the only thing about revolutions is that the question is what are you fighting for? The Civil War, there was kind of the Mason Dixon line. You know, there were, there was a dotted line that was a fight.
Marty: Well, that's why I think we as gold bugs and Bitcoiners, I think that's the narrative to lean into is, hey, all this strife and all these problems, are happening cuz we fucked up the money. Like we need to get back to the core of the problem.
Dave: No question. No question. Fix
Marty: the money. And that's something to rally around help people recognize.
And I got a bullish Yeah. Depression area. I got a bullish case in a depression for Bitcoin too. Which is emerging. What's that? Which is emerging
Dave: markets.
So, so you mean you move there
Marty: or No, just the demand for the utility that Bitcoin provides. [02:16:00] Got it. Stokes
Dave: enough. I, I've, I as we've said a million times, as I've said a million times, I have my concerns. But do no by no stretch of the imagination do I cackle at the hos. I mean we're the gold bugs and the hos are really kissing cousins.
We are. And, and what you guys get out of convenience of being able to just use a key, we get out of 5,000 years of history. So you can call it a wash. You don't,
Marty: if you were to spin up, you can make this happen. I could actually create an account for you.
Dave: And as people, uh, you don't know how many of you, you whack a noodle s offered that Not a
Marty: bit.
So the, so for this particular podcast, if people are listening around the world, there's some new podcasting apps that have Bitcoin while it's in them. And as people listen, they're just streamy little bits of Bitcoin. [02:17:00] And it's set up in a way. Yeah. Where if you had an address, I could put your address in, I could say, hey, send 40% to Marty, 40% to Dave, 10% to my quiet producer in the corner and uh, and 10% to a charity of my choice.
And it happens automatically. So that's inherent utility. ,
Dave: that's kind of a Bitcoin based Patreon.
Marty: Yes. But it's automatic and it goes to a wild eye control. There's no Patreon or Stripe or Visa to say, uh, I like that Dave was sitting No
Dave: middle man. Yeah, no middle
Marty: man. Dave said that we, uh, we should hang Fauci.
Let's not let him get his money. Can't happen here.
Dave: Well, I, I bet that would get me a lot of money. Um, I, I was talking to a podcaster who's been doing it for a long time, and I said, where's your revenue come from? I mean, there's a lot of you guys squealing to capture the, the ears of the world. And the [02:18:00] good news is mainstream media's holding the door wide open for you.
Mm-hmm. . So, um, as I said, many times, many years ago actually, when, when, when, when the free market breaks, black markets appear. And that's true with the free market of ideas. So when the free market of ideas got fractured, which it very much did, the black market of ideas emerged. And, uh, and, uh, but I was talking to him about revenue streams and he was actually rather specific.
And some percentage of his revenues is just people sending him a check. He says he averages about a hundred bucks a week. Averages or just someone sending him a check saying Thanks. Yeah. That happens here a lot too. I'm not, by the way, anyone listening, I'm game. Send me a check. Um,
Marty: well, why send you a check review?
I said, make it, make it easier. Lower the barrier of entry account. I'll put in your, I'll put in your address and just go to you automatically. I know.
Dave: I should [02:19:00] take you. I've had, I've, I've had podcasters tell me I could make a half a million a year podcasting. Oh, you easily could. Oh, that just, just seems outlandish to
Marty: me.
It's not, um, not saying it. I'm not trying to say that . I'm doing that here. I, uh, the podcast is, One revenue stream, have the newsletter and a couple of other, I'm a big, uh, increase the number of revenue streams you have
Dave: kind of guy. Well, I was talking to, I was talking to a podcaster this fall. I mean, he said he was hoping to clear 2 million this year.
Yeah.
Marty: There's a lot to, there's a lot to do that, see, we're more selective with our advertisers here. Where I could, I could probably, I don't see any, I could probably they're, you won't hear them. They get read before, before the podcast. But no, I'm very slow. I could easily probably make 2 million if I were to lower my standards and my morals and, and take some, some of the crypto [02:20:00] money.
Dave: I'd give blow jobs for 2 million
Yeah. My standards would go to zero for 2 million. I'm just too lazy. I'm just too, you can, I'm fine. I'm, I have so many people telling me ways to monetize myself and, uh,
Marty: that's like chatting. You can get paid for coming on this podcast if you just do, huh? Set up. I could split it to you and send it. Yeah.
Yeah. But going back to it, I think the e
Dave: just cramp, it cramps my brain. It's a, it's a generational gap,
Marty: man. It just, it's gold. You can send over the internet. I know.
Dave: Yeah. I have this image that there could be some moment where [02:21:00] the flash of do it now will hit go into
Marty: my skull. This is the most bolo shit I've ever heard you.
Dave: No, I've said that before. I've said that before, but I don't know what people say. You know what? like Jeff Booth and uh, who's the other guy? Cornell guy. Enthusiastic, colder,
Marty: lavish. Um, James Lavish is Cornell.
Dave: Yeah, I know Lavish. Um,
Marty: Larry Lepard. He's a gold bug.
Dave: I, well, he's also a big, I'd spent two hours getting the Bitcoin story outta Larry.
I love Larry. Um, Larry's a great friend at lunch. He's a sweetheart. Um, but in any event it's like what price would would be an entry point for you? And I go, it's not price. It's some historical moment where I go, it's time.
Marty: It should have been the truckers, the freezing of the bank accounts. [02:22:00]
Dave: No, it'll be the moment in time when I'm convinced that they can't shut you down.
I'm, I'm still not convinced they can't shut you down. How
Marty: are they gonna shut me down? I mean, they can kill me. They might
Dave: try to. So, so the question I always go back to us, if they say, look, spending Bitcoin is punishable by 10 years in jail, who's gonna use it?
Marty: I'm gonna go back to emerging markets there.
Dave: Well, that is the answer. So, um,
Marty: and then I'm still gonna use it cuz they're not
Dave: gonna know how I'm, I'm using it. But it would really put a squeeze on the potential long-term prospects for Bitcoin if they declare war against you. So far they have not,
Marty: I know. I don't think these people have a leg to stand on anymore. I think we have a better narrative as well.
Dave: Especially the system's collapsing. They'll be in a week, those issue.
Marty: Exactly. I mean, they're [02:23:00] already, and could you imagine financial collapse, recession, covid stuff becomes undeniable. The jab, um, adverse effects.
Real estate's not what it used to be. Been boomers going to retire, getting the retirement cut by 50% or more. That's something I worry about. Not me personally, but people in my life. I have many who are retiring this year. It's psych. Holy fuck.
Dave: The way I can tell you is there's a psychological effect when you retire, where the minute you don't have a revenue stream, you get panicky about how much whether your money will hold out.
My dad was well off, he's 85 years old, greatest generation kind of guy, and he makes some reference to if my retirement saving holds out. And I said, dad, [02:24:00] you can go bat shit. You can live the good life. There's no way your retirement money's not gonna hold out. But it, it's psychologically, once you retire, once you have no revenue stream, you go after this, you starve.
Yeah. That is, that rattles a lot of cages. There's a lot of people don't understand that retiring means coming to terms with that idea. Well
Marty: I think that's a product of our modernity too. Shouldn't it wasn't always that way. Cause you were able to depend on your
Dave: kids live with your kids. Yeah. We may go back to that because we have, we have all these McMansions that who's gonna buy '
Marty: em.
I plan on going back to that already. Obviously
Dave: I don't, yeah, I don't think, you know, so Brett Weinstein in his book, talks about the life expectancy of humans and he says that, um, he says there's a, there's a [02:25:00] biological advantage to living long enough to be a grandparent because the grandparents do all these things for the parents, including teaching 'em how to be parents, taking care of the kids while the parents are out in the field.
You know, things like that. Great-grandparents, no need. So his thesis is, is that we evolved to make it through grandparent. Grandparent, but not really further. And my kids have,
Marty: my kids have one great-grandparent left and all their grandparents, and I mean, we were just unlucky. My wife and I, our parents are close, knew each other.
We're not exactly an arranged marriage, but we've known each other our whole lives. Our families know each other and
Dave: when we go home. So when did you first meet your wife?
Marty: Uh, when I first met her, it was probably, uh, had to like before I was 10. Oh, okay. [02:26:00] I never, I didn't really start hitting on her. I Were you high high school?
No, she's a bit older than me. I started hitting on her when I was 17. Okay. I was too young for her then. And then, uh, she relented when I turned 21. Oh,
Dave: I see. Yeah. So she didn't wanna get thrown in jail for pedophilia or something?
Marty: Yeah, I could have crossed that line at one point. Um,
Dave: yeah. Well, my wife's older than me too, but I was 30 when we got serious.
It's really funny. I dated a girl for eight years. We never once talked about getting married. My wife and my old girlfriend met each other before I ever met my wife. And I remember my girlfriend came home and said, uh, I met Candace Cornell today. She says her Cornell's great, great, great granddaughter.
What I found out after the fact is, this is the funniest part. They did not get along at [02:27:00] all. .
Marty: Where'd you find that out? Years later after you were happily married? . Yeah. Yeah. Yep. No, it's good. I mean, the point I was trying to make Yeah. We were just home. My parents are parents for two weeks and Brett Weinstein's theory plays out quite well.
Right. Teaching us how to parent, letting us go, go out to dinner. Yeah. While watching the kids. I'd like to to make that commonplace again. Yeah. I mean, that was pretty normal for me growing up. I'm probably lucky. Come from a big Irish Catholic family. My mom's one of eight, very close to their brothers and sisters.
And when her parents live,
Dave: her parents, we had friends whose families were tight like this. And the families used to go out and ski trips together, so if they're affluent and uh, the four parents were on a ski trip and the plane crashed and they all died. Oh shit. And this was, this was [02:28:00] a family that, you know, these families grew up together their whole life and somehow they all died.
All four parents died. That's
Marty: pretty fucked. I mean, I, that's funny. Yeah. Cause we went , we went on the ski trip. My wife, her sister, a couple of my cousins and their parents just got back on Wednesday. It's uh, oh. It is something I, you talk, you talk about, we talk about participation rate. Mm-hmm. money fucking up everything.
Like should the participation rate be 50 50? Should we be, be able to get back to a single parent income family where no child rearing
Dave: and I don't think so. It was a unique period in history. We got, we were at a single parrot industrial world. So there was the agrarian society of the 19th century. [02:29:00] Then we get into the 20th century.
and, and the idea that dad could go off and work in a shoe store and come home and put food on the table while mom stayed home with the kids is not imaginable now. Right. Uh, it just, you, there would be no food on the table. That was a period in our history where we controlled 80% of global gdp. So our affluence was just unimaginable.
And so, you know, you'd go to a gas station, there'd be three attendance. And so as we became less prosperous, we became more efficient at using labor. But um, no, I don't think we ever get back to the wife stays home and the husband goes off and works or vice versa or whatever. Well,
Marty: it would be dependent on more prosperity, which doesn't come back.[02:30:00]
Especially the digital age where everything's made Taiwan, South
Dave: Korea. Well, digitally. Yeah. Well, and also it does open up the zoom from home economy. So
I don't know.
This is a ponderous talk we're
Marty: doing here. It is. I mean, it's important to ponder these types of things, . Right,
Dave: right. I know The fact that you post on the internet is an ancillary detail. You know, it's just a, um, yeah. Um, I won, I wonder if the foursome that, that I blew off to do your podcast. I wonder if they did a threesome or if they postponed it.
I never actually got an answer for when I said I can't do it on Friday.
Marty: Would you have rather done the foursome
Dave: than you? No, it would've been more fun. Not that you're not fun, but the foursomes ruckus. [02:31:00] But I promised you first. Well, I wouldn't have liked that.
Marty: Well, at least we could say you're a man of your word, which is,
Dave: well, the other thing is, if you were some meatball who I didn't know really well, but we've done a lot of podcasts and so we go back a ways.
We'll do many more. Yeah, many more. Be all men. You'll be kind of old and I'll be real fucking old.
I'm
Marty: already balding, so feeling old not Yeah, yeah. And, um,
Dave: but, uh, hopefully we'll get through. It'd be great to get to a period where we're all bullish again. I'm always
Marty: bullish,
Dave: not me.
Marty: Yeah. It used to be. I know. Yeah. I don't wanna harp on Bitcoin too much, but being in the space and just building, there's, there's so much to do. [02:32:00] You talk about Bitcoin and energy, maybe that, that helps create a floor. Energy. Producers are able to use excess capacity, excess natural gas utilities are able to use excess capacity in mind.
Bitcoin supplement the revenue streams, maybe temper prices a little bit.
Dave: Um, so when, um, when there's somewhere mining, let's, how many years from now, when does
Marty: that occur? 2140 is the, uh, the popular date that people throw out there. That's so, that's
Dave: so far away. Who the
Marty: fuck cares. Yeah. But also, 99% of Bitcoin will be mined by like 20, 35.
Oh. So it'll take like a hundred years for the last 1% to get distributed to the
Dave: network. That's a, that's essentially a non contributor. . Yeah. What's the, what's the breakeven price right now for [02:33:00] Bitcoin? Where the cost of mine it, and I know it's a furry line, but where the cost of mine, it is too high to pay for the, to get
Marty: the Bitcoin.
I'm pulling up a chart now. So it depends.
Dave: It depends. It depends on the cost of your energy,
Marty: your electricity. So the, the top of the line, uh, mining machine right now, the S 19 xp, uh, it's breakeven electricity prices, 12 cents a kilowatt hour. And the oldest,
Dave: what are we at now? What are we at now? I don't know what the,
Marty: yeah, it depends.
Like the natural gas I use is three or 4 cents, so that's very profitable with
Dave: that, uh, on grid. So do you have a bunch, do you have a bunch of servers? You have a server bank or what? Yeah, I have a bunch of Mine. Are yours or do you, do you buy into some organization that has servers? They're in your house roaring away?
Marty: No, they're [02:34:00] in, uh, in Appalachia we call it moonshine mining. We go find stranded natural gas wells, window pipeline connectivity, hook up a generator and then hook up the miners and that.
Dave: Where's the, the best place to mine Someplace like Iceland or something? Where, where, where's the, where, where's the, where would be the hub of Bitcoin mining?
The cheapest energy imaginable.
Marty: I am stranded. Natural gas is pretty dirt cheap, especially if there's no pipeline connectivity. And go scoop those up for pennies on the dollar and they'll produce for right.
Dave: Decades. But one point up been Canadian natural gas, for example, would've been a good place then.
Maybe? Yes.
Marty: Um, Russia. Russia, Russia, para wise got a, a burgeoning Bitcoin mining. Industry. They have gigawatts of excess hydro power. Those they're not using, that they're able to sell to miners for three to 4 cents a kilowatt hour. Um, Texas is blowing up. I don't know if it's the cheapest [02:35:00] energy, but, uh, there's a lot of hash rate down here.
North Dakota, Wyoming. I'm
Dave: partial. See, I'm kinda hoping, I'm kind of hoping that the cost of energy's gonna get so fucking high cuz I own energy companies, right? Yeah. I want them to make
Marty: a lot of money. Well, again, oil and gas, particularly right now, it's weird. Uh, lack of supply on the oil ad, but in over abundance on the neck gas side, um, which could continue, especially if people keep drilling.
Pipelines don't get built for the neck gas that can make your energy stocks extremely profitable if they sell the oil as the price is rising. And then mine Bitcoin with the, the natural gas that they can't move instead of flaring it or venting it.
Are you nuclear bull? Nuclear
Dave: bull? [02:36:00] What's that mean? Do you think we, I know
Marty: nuclear. Do you think we wise up and actually begin spinning up more reactors?
Dave: Oh, new am I a nuclear bull? I thought, say nuclear bull like a one word. And I'm going, I'm, I don't know if I can be nuclearized, but, um, I'm in investing in nuclear.
So I, I, I wrote last year in 2021 that, um, I said, if you dig dark into my dark conspiracy mind, I could imagine a scenario where the guys at the top realize that we're gonna run outta energy and that they might not wanna wait. For every last person, one at a time to wake up to this reality. And so I said the solution to that would be to have a engineered energy crisis.
I said, I think one's coming. Mark my words. Then all of a sudden, 2022, shut up. And I go, that was a pretty good [02:37:00] fucking call. Very prescient, right? And that's exactly the word. And so, um, which is why I was kind of bullish on energy and, uh, garing and erosion schwag is a two-man operation that specializes in buying small cap uranium miners and chill like that.
The weird stuff would be very hard to invest in. And I hate to use a good year as evidence that it was a good idea because that means nothing to me. But it, it, it was a good idea for 2022. Um, and uh,
Marty: I mean, even if you look at the uranium ETFs in 2021, they were doing pretty well.
Dave: Yeah, uranium seemed to be getting a tailwind, but um, I'm in it for a real long haul.
So if, what got into the market today, by the way, it got into one of these algo driven r rages. What was [02:38:00] that today? I don't know. So Dow's up 700, right? So it looks like one of these things where some, the computer just grabbed a hold of it and ran like crazy.
Marty: Some fed official probably said
Dave: something. Well, it could have been a, some jobs report. I mean,
Marty: Jobs's report came out yesterday,
Dave: right? But the market dipped into a slightly red territory at the start of the day and then just never looked back.
Yeah, I'm not seeing anything here. Yeah. Zero had you have an article on it. Um, and
so I beat the markets last year. I was slightly green, but you know, inflation [02:39:00] adjusted. I still lost money, which is the evils of inflation. Yeah.
Um,
Marty: and uh,
Dave: yeah. After inflation, correct? I think you, Amy met a good day today. I just checked one share price. It's up 7%. The, uh,
Marty: Germany and Nuclear, they seem to holding to the green party there. I think the green party came out this week was like, yeah, we'll extend the power plants for a few months, but we're still gonna go forward with decommissioning them over the next many years. That's
Dave: surreal. Why is nuclear not green?
Marty: People screamed Sharon Bowl f Fukushima, but really weren't as bad as, as marketed from what I understand.
Dave: That's [02:40:00] right. And and they're also very old.
Marty: Yeah. I mean, this goes into the manufactured energy crisis. Seems like Germany's been manufacturing one for two decades with the decommissioning of coal.
Nuclear in favor of wind and solar.
Dave: The other oddity is Australia's the largest producer of coal and they've decommissioned all their coal power plants. Yeah. So the largest producer's got a grid problem.
Marty: Yeah. And this goes back to the potential color revolution seeded by somebody like China, where they wanna get the west on their knees and they seed all this woke bullshit.
Spin down your coal plants, your nuclear plants, send the world green. Meanwhile, we're gonna spin up gigawatts capacity
Dave: using these. Well, the way I described that this year is, is I made a connection that was somewhat artificial, but I still liked it, where China is selling a scbs and gobs of solar panels and using the proceeds to build nuclear power plants.
Yeah. And you're, why not [02:41:00] just hang onto your solar panels, guys, the interest because they don't believe they're worth a shit.
Marty: No. And then you could throw an e s g rating on them here in the states and completely disregard the, the Uyghur slave labor that goes into it. All the coal solar panels are really coal panels at the end of the day.
And,
Dave: you know, green electric batteries are on the backs of, of slaves in the Congo. And Yeah. You know, the, the Sanct Amon Industrial Complex drives mean nuts.
Marty: I think they, I think 2022 was a year that they took a big hit, E s G particularly, and I think the energy crisis really drove it home. Like,
Dave: I think Covid didn't help either because they, they were on the wrong side of that one too.
Yeah. Right. They were the ones who thought we should all be shot if we don't vaccinate.
Marty: Yeah. And Tesla's having like a tough, tough month right now. I think people are beginning to wake up, like, uh, the CV revolution is not [02:42:00] what it's chopped up to be. I,
Dave: well, I, I just, well, I just don't think we have, we've identified the source of all the materials that you need to make the batteries No.
To do this electric world.
Marty: No, it's, I literally
Dave: impossible. . Well, there might be reserves out there we don't know about, but it's impossible based on the known reserves. Well, there
Marty: is a cobalt reserve in Maine on a mountain up there, but it'll never be mined.
Dave: It's, it's highly protective. I read about that not too long ago.
Yes. Yeah. So the greens wanna protect the green without actually getting the cobalt out that would run their green cars.
Marty: Yes. It's very, uh, contradictory.
Dave: So, here's a book for you, and if you read my introduction, you, you already got it, but the, the True Believer by Eric Coffer. Yeah.
Marty: This was very, very fascinating.
Dave: You should read the book. It's very short. It's an easy read, and it's just brilliant. But as you saw, I basically laid out the message of the [02:43:00] book, cuz I just didn't wanna leave it to the fucking reader to go get off their butts and read it. So I said, fuck it. I'm going to, I'm gonna blow the plot and tell you what's in it.
And, uh, just a brilliant book. Yeah. And it, it explains climate change and green revolutions and ESGs and, and, and the D n C and everything else under the sun.
Marty: Yeah. Human psychology is fascinating, right? As
Dave: psychosis. Especially mob psychology. Yeah. Mob psychology.
Marty: Well, I think we're gonna get a good lesson on that.
If we, uh, roll into a recession or a depression here, I think the mobs are gonna be spun up and, uh, . Right.
Dave: Clear thing. We'll say, look, you guys, you starved to death over here and we're gonna all use this technology to save our bacon. The, the, the hypocrisy of the, um, of the [02:44:00] woke is always breathtaking to me.
Oh. I mean, it's bleeding. They just, they just don't seem to understand how absurd they look. No. You know, bring in transgender athletes to destroy women's sports. Right? Yeah. Well, that's five. I've thought about this. Ignore nuclear energy. And I,
Marty: so I, I don't know if I should say this, but fuck it. I sit on the board of a publicly traded company in Canada and thought if the, uh, e ESG woke up, it comes to our board as like, Hey, you need, you need a woman.
We don't currently have any women on the board. I would identify as one. And who are they to
Dave: tell me? Well, especially if you get a prison term, , right? Yeah. Ryan,
Marty: I'm, I'm a lesbian, women with two children that I did not birth. Is
Dave: that too Outlander? You identify, but you, they [02:45:00] don't identify as children, so you're okay.
Yeah.
Marty: No, that, I mean, that's the, we're joking here, but that's the yeast with which you can hold the mirror up and be like, all right, and if you're letting anybody do this, I'm gonna do it. And who are you to tell me that I can't do it? Right. Does not compute with what you're telling everybody else.
This has been fascinating. Another three hour rip. Sick. This is your flu game. I,
Dave: this was my flu game. Yeah. E calmer.
Marty: I think you
Dave: performed very well. Well, I, my wife was saying, you can't do it. And I said, no. It calms me down. One time I, uh, I gave a group meeting talk as an undergrad that was hungover to beat all my boss said, that was your best talk.
I said, I so hungover. I couldn't, couldn't overplay it. And, uh, [02:46:00] so I don't know. I drove the, your viewing audience crazy with my camera moving all over, but No, you're fine. My dogs. My dogs come in into the game. Your
Marty: dog had a good. Your dog has a good snoring cadence. Seem very comfortable.
Dave: Well, so Chris Irons always tells me how my, how loud my dog is when I listen to the podcast.
Okay. Charlie, give them, give everybody a good view of what a fucking boss I terrier. Now she's a tiny little mother. Turns out she is, uh, oops. She is only 12 pounds, but she's got the heart of a lion and she's wondering what the hell's going on right now. She's only
Marty: like the other one. She's only like two years old.
You get, you scooped up both of them recently, right?
Dave: Uh, one's a year older. The other one, he's a big tank. He's 30 pounds. Yeah. And so he's a, he thinks he's a, a full blown bulldog instead of just part bulldog. But the Bostons, [02:47:00] I, I highly recommend him to anyone who wants a dog. The Boston Terriers are amazing.
I've had labs and all sorts of dogs, but these Bostons are somehow
Marty: different. Less high maintenance. And the French bulldog.
Dave: Oh, I think the French bulldogs are tricky. I think they're, I think they pose problems. These are half French bulldog. They're, they're, they're, or originations of Bulldog, a French bulldog in a terrier.
And uh, and, uh, these guys have a little bit of cat in them or something. . Well, they're, it's like there's this little strict stretch of independence in them. Say, come and they look at you. You're going and they're looking at you going, yeah, I'm not feeling it. . You know, where's the lab? You come and they go, sure.
How you doing? How you doing? Yeah. Yeah. A little French kissing there, but I'm not trying eat all
Marty: that. She's into it right
Dave: now. Hey, sleep under the covers. Yeah. They like, I would say [02:48:00] ni 90% of the Boston Terris sleep under the
Marty: covers. Yeah. I have, uh, a French bulldog in the family and he likes to do that too.
Like to burrow? Yeah. They're
Dave: burrowers. Yeah. And they go right for the crotch. Yeah. Well, when it's time to roll over, you can really find yourself tangled up in dog . My wife's, uh, we were talking about getting the third one. We have a lab right here too. We got a tank down there. There she is. Somewhere got chocolate.
Yeah. Yeah. And, um, we had four dogs at one point, but, um, my wife says, she said, I don't think we should get a third dog. And what I didn't tell her is I already put down the, the money for it. . Now it's an option to buy the dog. So we can take possession at any point. So we're at the top of the list. We can, any letter that comes along, boom, we can nail it.
So I just have to wait for the right time and say, would you like one now, maybe
Marty: first in [02:49:00] line. That's what, uh, we're first in line. Yeah. We're dealing with rolling over on children in our bed right now. I brought up the prospect of getting a dog. It's
Dave: too early. Oh, kids need dogs. Do they? Oh yeah.
Marty: All right.
I'm gonna make my way. Oh yeah. I'm gonna make my whole wife listen to this part of the
Dave: podcast. No, no, absolutely. And the other thing is, when you lose a dog, you should go out the next day and get another dog
Marty: that seems psychotic. Why would you
Dave: No, no. When you, when you have a dog die and you're, you, there's this gigantic hole in your life.
We had a dog die unexpectedly. And the next day we went to a Saturday movie matinee just to get outta the house. And I grabbed a newspaper off the stand. I opened it up and I said, come on, we're going down to Binghamton. There's a litter of, of, um, of lab puppies. We went down, we picked one [02:50:00] out. They weren't ready for like four days.
They were supposed to get shots or something. I said, we want 'em now. , we'll pay for the sh the rest of the shots. They're saying, yeah, sure, whatever. We, we brought her home. You cannot be unhappy with a lab puppy. There's just no mechanism that you could ever be. You got a lab puppy. There's no mechanism you can ever be unhappy.
Marty: Saw a lab puppy on our family walk this morning. Uh, looked like a Christmas present. The guy was very happy. Yeah. That was walking it. Everybody was walking up the chair.
Dave: You can't, you cannot be happy any puppy. Right. One time I was in the bank with a Irish Center puppy and guy said, I always had a puppy like that.
And I said, what happened? He said he became a dog.
Yeah. I kind of know that drill too. So, um, so we're in the queue. I've already paid the money for the next Boston Terri. My wife doesn't know it.
Marty: She might be able
Dave: to hear it now. Well, [02:51:00] if she does, she can. She now knows it, but I don't think so. She never listens to my podcast. She, she'd just bitch at me if she, if she ever listened to my podcast, she'd go through and edit them and say, you shouldn't have said this.
You should do this. You know, stop wiggling. You know that sort of shit. Yeah. I go, who invited you? .
Marty: My wife has stopped listening to the podcast as well. Her excuse is, I have to listen to you all day when you're at home. Why the hell would I listen to you when you're not at home?
Dave: Right. There must be an occasional podcast where you say, you gotta listen to this one.
Yeah. Every once in a
Marty: while. Yeah. It'll be this one. Um, particularly the first half of the conversation.
Dave: Yeah. It seems to me like we've just been talking . Usually the podcasts are following some bang, bang, bang script. And you and I just chat. You and I just chatted. Well, not ours maybe, but we just chatted and that, that's fine.
Um, [02:52:00]
Marty: that's the way I like it to flow. I've read, uh, the ear and review. I know. I feel like I know who you are, how
you
Dave: think, did I provide useful information on Ukraine? Cause that was the core.
Marty: I mean, yeah, I think, I mean, I'm, I'm, I'm picking up what you're putting down. I recorded with the Serious report, um, Lyndon Paul in the beginning of the year right when it was blowing up.
And he made me privy to like the buildup, the CIA involvement, like Moland and like the 20 Oh yeah, the 2014 Color Revolution that we incited. Um, that's right. And I've had a lot, and you mentioned, uh, Baltic states in the year in review too. And I've had, uh, I do a quarterly podcast with a friend of mine, Liz in Lafia, and he's got the anti-Russia view.
And I've taken that into consideration and I respect the hell out of him.
Dave: But still, they, they, they can't, they can't shake that as the problem. So I, I had a [02:53:00] friend on Saturday mornings, I get together with this, I call 'em the rednecks and we chat about stuff. And, um, one of 'em has a, a Ukrainian wife and he is lived in Ukraine for several years and stuff like that.
He, he can't see clearly now he's got lots of facts, but he thinks, for example, that the 2014 coup was a grassroots coup. Now, George Friedman, a Stratford said it was the most blatant engineered coup in history. Right. But this guy thinks it was, he says, you really think you get a hundred thousand people, you know, protesting in the street.
You think you can engineer that. I said, I absolutely think you can engineer that. I think it's trivial. All gotta do is get to the leaders and bribe them. That's how it works.
Marty: Yeah. What was that square called? Where they camped out?
Dave: I don't remember. Yeah. Madon. Yeah. Madon. Madon maybe. Madon.
Marty: Yeah. Yeah, [02:54:00] Madam.
Yeah. And then, Again, going like the Hunter's laptop thing too. That's a smoking gun where people in mainstream refuse to go down. Like there's obvious corruption
Dave: pay to play. What per, what percentage of the people in this country Forget about the ones who don't even know who's president. Leave those guys out.
But you know, the guys who pay attention to the world a little bit. What percentage do you think think the laptop is fake . Do you think that anyone
Marty: is duped? No. I mean the, the, the pictures are videos of him smoking crack. It's hard to deny that. That's not Hunter Biden. Yeah.
Dave: Yeah, yeah, yeah. Maybe, maybe That's Facebook.
Uh, uh, uh, uh, uh, uh, uh, uh, PageMaker. Not PageMaker. Come on. Come on. Come on. In any event, fuck it. I feel sick and it's not coming to me. Um,
the press is so bad. [02:55:00] Yeah. And the government processes really awful. And
Marty: you highlighted this in part two, like the inability of the press or any of the western leaders to even open the door for, uh, like a, a peaceful end to this. The ceasefire had, was proposed. Oh yeah. Earlier this week. It's, no, we're doubling down, tripling down.
We need to get into World War
Dave: iii, which is we're willing to kill every last Ukrainian to give Russia grief. We do not care about the Ukrainians. No. At all.
Marty: But we're, we have flags in our profile pictures, though. We do care
Dave: waving. I read, uh, right up on the fake moon landing. I gotta tell you, it was kind of interesting.
You know, I've always said, no, we flew to the moon. But there's always been one thing that always bugged me. and [02:56:00] that is that the flag shouldn't be waving. Yeah. That always bothered me. And, and this article went through all the problems with the moon landing and I said, you know, it's really interesting cuz there really are a bunch of shit that doesn't add up.
They got to the
Marty: moon in a tin can essentially, that's what they want you to believe. Right. And they got back and they had radio communications, and Right. I mean this goes back to Stanley Kruk. Have you ever dove into the, the Shining as one big admission that he helped, uh, manufacturer the moon landing.
Dave: Right. So, so wag the dog sort of thing. Yeah. Um, so if you had to guess yes or no, cuz I never would've entertained the idea. But then one day I, I read a serious re some guy sent me an email one day and said, if I swear, if you read this guy's stuff, you will realize the, the world is not round, it's [02:57:00] flat.
And I'm sitting going, dude, here's the problem. I'm gonna waste my time reading this bullshit. If by some mechanism he convinces me the world's flat, he will destroy my life. . So there's no chance I'm reading about the flat world. Yeah. I don't think the earth flat, Thomas Fri Thomas Friedman aside. No.
Marty: Um, I've ventured into the flat earth.
I, uh, has not convinced me Moon landing.
Dave: I can What about this Ra r Randall Carson guy? Who's that? He's the guy who thinks that there was civilized life here, you know, 50,000. Oh, Randall
Marty: Carlson. Yeah. Carlson. Yeah. And um, and why is his name escaping me? Randall Carlson. And, uh,
Dave: there's another one. Graham Hancock, right?
Yes. This idea that civilization kind of got scrubbed from the surface of the earth. I believe it. . [02:58:00] Um, okay.
Marty: There's no way the Egyptians built the pyramids. There's no way these disparate societies globally distributed, built very similar structures, um, with very detailed and specific alignment with the stars without having some sort of interconnected, advanced civilization at one point, I think.
Yeah, civilization's much older than 12,000 years old. I think it's
Dave: 10,000. So it's just Do you think it's a standard? We we were way ahead of our time, or or do you buy into the whole, uh, alien beings came up and showed us how to do shit, cuz I, I have trouble with that part.
Marty: Uh, I think we, uh, I wanna, no, I don't know about the aliens.
I do think cause Randall Carlson's, you think Randall Carson specifically in Graham Hancock will claim that, um,
Dave: we just were, [02:59:00] were very advanced that it got squeegy
Marty: and Yeah, there was a meteor that hit up above Canada and caused like a great flood. And can they bring it back to the flood stories in the Bible and other, uh, religions throughout
Dave: history?
That seemed to be oddly coincidental. Yeah.
Marty: Yeah. I think that's what happened. Because if you Yeah, up in Washington state, they take like a drone and go like a mile above the earth and you see like what looks like erosion, but on a scale of cities. So there had to be this massive flood.
Dave: Interesting. Yeah.
Marty: That's, that's actually, that's my favorite podcast of all time is Graham Hancock.
Randall Carlson and Joe Rogan. Like a decade ago.
Dave: I watch at least part of it. I don't remember if I hung tough the whole way. I gotta go watch the Brett Weinstein one though, right? That's the must watch [03:00:00] Rogan last week. Is that
Marty: what I'm hearing? Yeah, this week, a couple days ago. Um, I mean, it just completely undresses the,
Dave: I had a long chat with Eric Weinstein Stein.
That family is no, has no shortage of
Marty: brains. No, I don't, I'm not a big fan of Gage theory though.
Dave: I don't know. Yeah, I don't have an opinion on that, but there's no, there's no stupid in that family. No. I'm being summoned by somebody, but I dunno if it's me. The dogs . Wait a minute. Oh, it's the dogs. We should probably go anyways.
I'll, I'll say hi to my wife and All
Marty: right. You go take care of your wife. I, she's, yeah. Are you allowed to give neck rubs or is it, don't touch it.
Dave: No, no. It's, she's in a, she's in a Miami, Miami J collar. And, and then, and then just to make it really interesting, about six days after she broke it, she fell again and smacked the [03:01:00] back of her head,
And I'm sitting going, oh my God. And she's on blood thinners and shit, so she could have all ulcer subdurals. Gotta put the dogs up. Here's my wife. . Wait, say hi. Hi. He's not help. Hope you're feeling okay. Yeah. She can't hear you because of the headphones. Yeah. Well
Marty: relay the message
Dave: for me. I will. I will, Dave.
Okay. I'm gonna let you go. Thank you for doing You
Marty: do.
Dave: You too. We'll do it again. Looking for truth. Looking for truth.
Marty: We're gonna find it one day
Dave: maybe. Uh, well, we know it when we find it. We'll find out. All right. I dunno. Adios. Peace and love freaks.