March 15, 2023 - America First - Nicholas J. Fuentes
02:05:29
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| Speaker | Time | Text |
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| Good evening everybody. | ||
| You're watching America First. | ||
| My name is Nicholas J. Fuentes. | ||
| We have a great show for you tonight. | ||
| Very excited to be back with you here tonight on Tuesday. | ||
| We have a lot to talk about. | ||
| Lots to get into. | ||
| Big show. | ||
| We're covering tonight the same story we were so close to covering it last night and then we had a big | ||
| Issue I was in the middle of a show last night and we had a major internet outage in my area, of course Right when I'm in the middle of the show internet goes out doesn't come back for an hour So we're basically just gonna pick up where we left off last night which is talking about the Silicon Valley Bank Collapse and the ensuing problems in other banks and in the stock market. | ||
| And so I'm sure you've seen all about it. | ||
| It seems like the disaster has been basically been averted for now. | ||
| Some have said there may be aftershocks and I was actually getting at something last night when I opened the show and I introduced the topic which is that this itself is not maybe going to be the meltdown but it does indicate that there are bigger problems going on and that has to do with what the Federal Reserve is doing with the interest rates and this legacy of 20 years of free money | ||
| He had near zero interest rates basically since the housing bust in 2006. | ||
| And I think I talked a little bit about this when I introduced the topic as well. | ||
| We were due for an economic meltdown in 2020. | ||
| And 2020 was a result of the same factors that are causing a meltdown currently and which will cause a problem this year. | ||
| But then the financial pain was deferred Because of the same kinds of policies the last 20 years, they just accelerated, which is the monetary and fiscal stimulus that came with the COVID relief packages. | ||
| So we'll be talking about all that tonight. | ||
| Big show. | ||
| Kind of like a big boring show because it's all about the economy and finance and all that. | ||
| So it's not really like a big angle there. | ||
| I was talking about this last night. | ||
| Not really a big angle for me to throw in a joke or anything because it's pretty dry stuff. | ||
| But, important. | ||
| And everybody needs to know what's going on. | ||
| Very important for you. | ||
| Very important for the economy. | ||
| And as I said last night, just because we don't cover economics on this show very much, doesn't mean it's not important. | ||
| A lot of people talk about the economy. | ||
| Not a lot of people talk about the things we talk about. | ||
| Doesn't make it any less important. | ||
| It's still a very big deal. | ||
| It's a very big problem. | ||
| And the problem is this liquidity crunch which is happening. | ||
| So we'll get into all that. | ||
| We'll also be talking tonight, if we have time, about this willow drilling project where the Biden administration is opening up more oil drilling in Alaska. | ||
| And it's kind of amazing. | ||
| I never saw this for like 15 years, but this is all over social media. | ||
| They're protesting the drilling because of like the polar bears. | ||
| Have you seen any of this? | ||
| And they're posting these graphics and signs where there's a picture of like a dead polar bear. | ||
| And I don't know about you, but I haven't seen any of that since the early 2000s. | ||
| That stuff was going on like when I first became alive, like when I was born, and a little bit after that. | ||
| But I haven't seen this polar bear thing since... That was like the first wave, first or second wave of the climate stuff. | ||
| Now it's all about sustainability and they don't even call it global warming. | ||
| Now it's climate change. | ||
| So I haven't seen the polar bear thing in a minute but like I said the Biden administration they're opening up big drilling in Alaska and this is supposed to reduce our reliance on foreign oil. | ||
| This is supposed to increase production. | ||
| And this is obviously a response to Russia, generally, and also Saudi Arabia and even Iran and all the politics that are going on in Central Asia right now, which we'll probably cover on another show this week. | ||
| A lot of interesting developments. | ||
| You know, we covered a year ago, Saudi Arabia refused to increase production to offset the rising cost of energy because of the war. | ||
| And then there was another big development this weekend where China brokered a deal between Saudi Arabia and Iran. | ||
| Another huge middle finger at the Biden administration in America from... | ||
| Saudi Arabia, so we'll probably cover that this week, but that's what this is about That's what the drilling is about and it's pretty amazing cuz all these Democrats are like hey, what's the deal? | ||
| I thought we were like the party of climate change and Biden's going ahead. | ||
| I I mean honestly Biden's right. | ||
| I hate to say it, but Biden is another based Biden Moment. | ||
| You know me, I'm not like actually a Biden supporter, but sometimes I do. | ||
| There's a joke there, and it's funny because there's some truth there, which is that the Biden administration isn't all that bad. | ||
| I hate to be that guy. | ||
| Listen, I don't support the Ukraine thing, I don't support the Capitol investigation, but he pulled us out of Afghanistan, there's more drilling in Alaska, like... | ||
| Hard to be mad. | ||
| Anyway, so we'll get into that too. | ||
| Should be a pretty good show. | ||
| Before we get into all that, I want to remind you to smash the follow button here. | ||
| Follow me on Cozy to get a push notification whenever I go live. | ||
| Follow me on Gab, Telegram, True Social. | ||
| Links are down below. | ||
| Like I told you this week, we're also streaming on Rumble every night. | ||
| Or we should be. | ||
| Let me check. | ||
| Let me just check and make sure. | ||
|
unidentified
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Are we on Rumble? | |
| Are we not on Rumble? | ||
| You gotta be kidding me. | ||
|
unidentified
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No freaking way. | |
| Okay, so you know we're live on Rumble sometimes. | ||
| That's partially my fault because I start the show three hours late, but I gotta do it then. | ||
| I gotta figure it out. | ||
| Anyway, well we're live on Rumble occasionally. | ||
| I'll be doing a Rumble exclusive this week at some point. | ||
| Not sure when. | ||
| I'll be doing it at some point. | ||
| What I'd like to start to do, and I don't know how this is going to work, but I watch these guys like Destiny or others and they really just stream all day. | ||
| They start at like noon. | ||
| They start at like 11 or noon and then they just stream for like, I mean they stream all day. | ||
| I have a show at night. | ||
| But I'm thinking I'd like to kind of get into a regular schedule. | ||
| I don't know if I can do every day, but I was thinking it may be good for the show if I were live on Rumble and cozy doing like a daily stream. | ||
| I'm doing it for like, I don't know, four hours, three hours, a few days a week. | ||
| So I'm gonna try and get in the habit of that and just see how it goes. | ||
| Because the Rumble thing is very promising only because, and I think their numbers are cooked a little bit, I'm not gonna lie to you, and I don't say that with any proof, it's not definitive, but I look at some of their numbers and it just doesn't seem right. | ||
| It just seems like they're getting way more viewership than makes sense. | ||
| Maybe it's real but I'm not the first person to say this. | ||
| It doesn't look totally legit. | ||
| In any case though they do have a huge user base. | ||
| I guess they have 150 million monthly active users and so I'd be foolish not to take advantage of that and try to drive some of that traffic over here and just to take advantage of it over there. | ||
| So I think I'd like to roll out some more content but like I said I'd like to do something in the afternoon first And then I can get back in my regular routine of going live at 1 a.m. | ||
| or whatever, as I like to do the late-night stuff also. | ||
| So we'll see. | ||
| Stay tuned for that. | ||
| I'll be updating you on Telegram. | ||
|
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What else? | |
| I think that's about it. | ||
| Yeah, I really apologized about last night. | ||
| It's a shame. | ||
| I started the show. | ||
| I got into it. | ||
| And it was gonna be a good show, because there's... I think it's a really interesting topic. | ||
| And then, you know, then the internet just cuts out. | ||
|
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I'm like, really? | |
| And I looked it up and it was like every provider is like my whole area, so... | ||
| But what can you do? | ||
| Sometimes it happens, so... I apologize I didn't finish the show yesterday, but... I'm back here tonight. | ||
| We'll finish it tonight. | ||
| And I guess we'll just dive right in. | ||
| And we'll get into the Silicon Valley bank story. | ||
| Yesterday I was going over a thread which was published in Revolver, which I thought was a pretty good explainer of the situation. | ||
| The thing is, it's very complex. | ||
| And I have a pretty perfunctory knowledge of how this stuff works. | ||
| I'm by no means an expert when it comes to the very technical financial stuff. | ||
| But it's a very complex topic. | ||
| And so a lot of this is just going to be explaining the vocabulary here and what's going on. | ||
| And so basically, I'm sure everybody heard about it. | ||
| I'm sure everybody's to some extent aware of what's happened. | ||
| But this all started last week with Silicon Valley Bank. | ||
| Silicon Valley Bank is a mid-sized bank, and they've been around since, I think, 1982. | ||
| And this is a bank which caters to tech companies and specifically tech startups. | ||
| apps. | ||
| And they're responsible for a very large percentage of the tech startups in America bank with this bank, Silicon Valley Bank. | ||
| It's important to understand this because a lot of people are drawing comparisons between Silicon Valley Bank and some of the things that happened in 2008. | ||
| And they're comparing it to like Bear Stearns and Lehman Brothers. | ||
| And what's important to keep in mind is that Silicon Valley Bank is not a major financial institution like those. | ||
| Like the financial system does not rest on Silicon Valley Bank in the same way it did on the institutions that failed in 2008. | ||
| So there's a much lower risk of this bank failure affecting the economy at large. | ||
| But that being said, and the reason for that is because Silicon Valley Bank has so much exposure to just one industry, just the tech industry, and it's also a smaller institution. | ||
| That being said though, because it has so much exposure to the tech industry, it tells us something about the tech industry. | ||
| If Silicon Valley Bank is having trouble, this is owing to management decisions made at Silicon Valley Bank which are very specific and which a lot of other financial institutions don't have this in common. | ||
| So there are a lot of unique decisions that were made, you could say mistakes, and also the tech industry is telling us something about the rest of the economy. | ||
| Silicon Valley Bank Failing is not going to bring down the whole economy because it's not that big. | ||
| It's not that important It's very unique in terms of its balance sheet, and we're going to get into what that means They have a lot more problems for example than say JP Morgan or Citibank or some or Bank of America, you know one of the big four | ||
| But, that being said, because their clientele is tech, and because they failed, partially because of their own decisions, partially because of the tech industry, it tells us something about tech, and tech tells us something about the economy. | ||
| That's really the significance here. | ||
| So, we'll get into it here. | ||
| Like I said, Silicon Valley Bank failed last week in about 72 hours. | ||
| And this all started last Wednesday when they tried to raise 2 billion dollars to cover a shortfall. | ||
| They sold all these assets that they had been holding at a loss and then they tried to raise capital to make up for the shortfall. | ||
| They were trying to raise 1.8 billion dollars. | ||
| From the news that they needed to raise this money to make up the shortfall, Teal Capital panicked. | ||
| And some other major depositors panicked and they started pulling their money out. | ||
| That happened last Wednesday. | ||
| By Friday, this bank was facing a serious liquidity problem. | ||
| Meaning that it couldn't pay all the people that were trying to withdraw their money. | ||
| All these major clients, and it's all tech startups. | ||
| So it's all very cash intensive. | ||
| It's all big accounts. | ||
| It's all people that have hundreds of thousands of dollars, millions of dollars. | ||
| It's a bank with a lot of, or rather a smaller number of very big accounts. | ||
| By Friday, they were not able to pay out all of the depositors that were pulling their money out of the bank. | ||
| And so the FDIC came in, they shut down the bank, they've taken it over, and now they're going to be firing the management, they're going to restructure the leadership, and then they're probably going to sell the bank to another firm like maybe JP Morgan. | ||
| I think Elon Musk expressed interest in buying the bank. | ||
| And so that's what happened last week. | ||
| That's what triggered everything. | ||
| Because of the failure of this bank, other smaller banks like Signature and First Republic began to experience the same problem. | ||
| Where depositors at those banks, which are also located, I believe, in California, and also have more exposure to the tech side, and crypto in particular, depositors at those banks began to line up around the block and try to pull their money out. | ||
| And that created liquidity problems at those banks and that caused those banks to drop in the stock market and then based on fear about those banks, other banks started to have the same problem. | ||
| And so that's in very, that's in very simple terms what has gone on in the past week, what's been going on since last Wednesday. | ||
| And the word for this is it's a bank run and if you've never heard of that or you have heard that a bank run is when people think that well they lose confidence in the bank's ability to pay them their money people deposit their money in the bank And when you see a bank like this fail, which is a larger bank, and it's an important firm, it's not, like I said, it's not a major intermediary for the financial sector, but it is an important bank. | ||
| When people see a bank like that fail, they lose confidence in the banking system, they pull their money out, and banks don't have enough money to pay all of their depositors. | ||
| They only have to keep a certain percentage of the money that is deposited in the bank in cash on hand available to pay out. | ||
| They use a lot of the money that they have that's deposited there to invest. | ||
| And we got into that a little bit last night. | ||
| So a bank run just means people lose confidence in the bank. | ||
| They pull their money out, the bank can't pay, and then this creates insolvency. | ||
| Even if a bank on paper is solvent, even if on paper a bank is able to meet its obligations, if a large number of depositors are pulling their money, they're just not going to have enough. | ||
| And I'll explain how that's possible. | ||
| We'll go through the specifics of what happened at Silicon Valley. | ||
| And so this is really a game of confidence. | ||
| The Silicon Valley bank episode snowballed into a broader crisis of confidence in the banking sector where people were thinking that the banks were going to fail. | ||
| They would not be able to get their money. | ||
| So they panic and they pull out their money and it creates a self-fulfilling prophecy. | ||
| So the Biden administration comes in and they did a good job yesterday and they reassured everybody by saying that they would make everybody at Silicon Valley Bank whole. | ||
| All the depositors would be able to have access to all their cash. | ||
| Now other kinds of people that have money in the bank would not be paid back. | ||
| So shareholders are going to lose money, bondholders are going to lose money, but depositors are going to be made whole. | ||
| The Biden administration came in with the FDIC and said that they would insure up to the $250,000 FDIC insurance for deposits and they would even go beyond that. | ||
| And even if depositors had more than the ordinary limit is $250,000, but the FDIC came in amid this crisis of confidence on Friday and said, we'll make everybody whole. | ||
| Even if you had more than $250,000 in the bank, we will pay you everything that is owed, even if Silicon Valley Bank does not have the money to do so. | ||
| And that comes out of a separate fund. | ||
| That doesn't come from the taxpayer. | ||
| And then they came in on Monday and they said the same thing about First Republic and about Signature Bank and that seemed to ease everybody, that seems to make everybody relax and there wasn't a problem today. | ||
| But I want to get into what happened at Silicon Valley Bank in particular. | ||
| So there's sort of like two things going on here and the first thing is the Silicon Valley Bank failure which raises a lot of questions like how did that bank fail? | ||
| And there's a lot of reasons for that, and there's a few angles there. | ||
| And then there's the ensuing panic that followed, which happened then at these other mid-sized banks. | ||
| And that's much more simple. | ||
| Silicon Valley Bank goes down, it's the first domino, and then other banks go down. | ||
| And so the precipitating cause, for example, of First Republic Bank failing, is that Silicon Valley Bank failed. | ||
| So why did First Republic Bank have a bank run? | ||
| Well because depositors lost confidence in banking because of what happened at Silicon Valley. | ||
| So then Biden admin comes in, restores confidence, everything's okay. | ||
| But the outstanding question is what happened at Silicon Valley Bank? | ||
| What was the precipitating cause? | ||
| Why did that fail? | ||
| And so this is a quick thread. | ||
| This is from Revolver. | ||
| And it explains this is the most popular theory of what happened there and we'll go through it and explain it. | ||
| And so it says quote in 2021 Silicon Valley Bank saw a massive influx in deposits which jumped from 61 billion dollars at the end of 2019 to 190 billion dollars at the end of 2021. | ||
| 2019 to $190 billion at the end of 2021. | ||
| And so I got this far yesterday in explaining this. | ||
| And so to understand what's going on here, you have to understand how a bank works and how a bank makes money. | ||
| So, this sounds like a good thing. | ||
| That the deposits at Silicon Valley went up from $60 billion to $190 billion in two years. | ||
| And it is. | ||
| That means the bank's getting a lot of cash. | ||
| But, the way that a bank looks at it is that a deposit is actually a liability. | ||
| When deposits go up at a bank, it actually means their liabilities are going up. | ||
| And that's counterintuitive because you would say that people are putting money into the bank. | ||
| So how is receiving money, how is a tech startup putting cash into a bank, how is receiving cash a liability? | ||
| But banks are of course obligated to pay interest on the deposits. | ||
| So every deposit that comes in, the bank owes interest on the money. | ||
| And so what a bank will do is they have their deposits on the liability side. | ||
| They receive the cash and they owe interest. | ||
| It's a liability. | ||
| And on the other side of their business, they take the cash, a fraction of it, and they're able to invest that in other things. | ||
| And if the bank can go out and earn a higher rate of return on its investments in things like bonds or stocks or other things, They can make a higher interest than what they owe to the depositor. | ||
| That's how they make money. | ||
| And so that's a very basic explanation of a bank's balance sheet. | ||
| Is a bank, like Silicon Valley or any other, they receive cash, they owe interest on that cash, but they can take the cash and invest it in other things like stocks, bonds, other asset classes. | ||
| And their job is to go out and make a higher rate of return and then they can pay that to the depositor. | ||
| So, what happens here is that in two years Silicon Valley deposits go up from $60 billion to $190 billion. | ||
| It triples in two years. | ||
| And we talked about why that was yesterday. | ||
| That happened because of the massive stimulus that happened during the COVID pandemic. | ||
| The Federal Reserve and the Federal Government injected $6 or $8 trillion in liquidity into the economy after they shut down the entire country. | ||
| They shut down the country in March, the stock market collapsed, and then in order to keep the economy afloat they injected $2 trillion in government spending and $6 trillion in quantitative easing, meaning they printed money. | ||
| And so they poured basically free money into the economy to keep everything afloat. | ||
| And that's what drove this big boom in the tech industry. | ||
| If you look at the stock market during the pandemic, it was tech companies that were the big winners, particularly the big five. | ||
| The big five are Microsoft, Amazon, Apple, Facebook, Google, and other tech companies as well. | ||
| So Silicon Valley Bank is a tech startup bank. | ||
| Federal Reserve injects six trillion dollars in quantitative easing and printed money into the economy. | ||
| That money pours into tech startups. | ||
| Tech startups pour their deposits into the bank and that's how the deposits explode in two years. | ||
| So this is the second part. | ||
| It says, quote, as deposits grew, Silicon Valley Bank could not grow their loan book fast enough to generate the yield they wanted to see on their capital. | ||
| As a result, they purchased a large amount, over $80 billion, in mortgage-backed securities with the deposits for their hold-to-maturity portfolio. | ||
| So the deposits are growing. | ||
| And the job of Silicon Valley Bank is to earn a percentage on this so that they can pay interest. | ||
| Their deposits are growing faster. | ||
| They're making more money than they know what to do with. | ||
| And so they need to generate a percentage that they can then be able to make a profit so they can pay back the depositors. | ||
| So it says they purchased a large amount in mortgage-backed securities with their deposits for their hold to maturity portfolio. | ||
| A mortgage-backed security If you've looked in anything about 2008 you've heard about this. | ||
| A mortgage-backed security is what happens when a bank takes a lot of mortgages and packages them together and then sells it as a stock to an investor. | ||
| And so it's essentially like the bank is an intermediary between the homebuyer and the investor. | ||
| And so it's like the investor is loaning the homebuyer the money. | ||
| If the bank gives the money, if the bank goes in and they loan however much money, you know, I don't know what the average mortgage is, but if they go in and they loan a couple hundred thousand dollars to a homebuyer and the homebuyer's got to pay back the bank however much money, the bank will take all these mortgages and sell these obligations to an investor. | ||
| And then essentially, instead of the homebuyer paying the bank back, they're paying the investor. | ||
| And the investor buying the mortgage-backed security, it's like they're giving the homebuyer the money for the house. | ||
| And so the bank then just becomes a middleman between a group of homebuyers, a group of people that have a mortgage, and an investor. | ||
| That's a mortgage-backed security. | ||
| And that's a little complicated but the point is that it's a very safe investment. | ||
| Housing is a safe investment if the banks are doing their job right and they're giving mortgages to people that are going to be able to pay them and if the credit rating agencies are doing their job and they're rating the risk appropriately. | ||
| And so this is a very safe investment that is going to pay dividends to an investor. | ||
| And so this is what happens is Silicon Valley Bank they get all these deposits they don't know where to put them so they go out and they spend over 80 billion dollars on these mortgage-backed securities a very safe investment but one that pays a low yield I think it pays 1.75% over 10 years. | ||
| So they buy these mortgage-backed securities and the maturity is 10 years meaning that in 10 years they're gonna get all their money back plus 1.75% And they put this in their hold to maturity portfolio, meaning that they don't intend to trade these things. | ||
| They're not trying to, they're not buying these securities so that they could sell them and make a quick buck. | ||
| They're buying these mortgage-backed securities to hold to maturity, meaning hold them for the entire 10 years, hold them where they're going to turn a profit. | ||
| That's an important point. | ||
| So it goes on it says 97% of these mortgage-backed securities were a 10 plus year duration with a weighted average yield of 1.56%. | ||
| So this 80 billion dollars and this again they're awash with cash they've got to invest this stuff so they can make money they pour it into mortgage-backed securities But they've got to hold them for 10 years. | ||
| They're tying up over $80 billion in this investment, which they need to hold for 10 years to make any money on them. | ||
| So everything they're buying, 97% of what they're buying, they cannot sell for 10 years. | ||
| And they're only going to make 1.56% on average. | ||
| It says the issue is that as the Fed raised interest rates to 2022 and continued to do so through 2023, the market value of these securities plummeted. | ||
| This is because investors can now purchase long-duration risk-free bonds from the Fed at a 2.5 times higher yield. | ||
| So, again, these securities, you're supposed to hold them for 10 years to make money, but the market value of them fluctuates. | ||
| The market value may go up or down. | ||
| If they hold them for 10 years, they make money regardless. | ||
| But if you sell them on the market today, and the duration is 10 years, it may be more or less. | ||
| When the Federal Reserve raises interest rates, they're essentially offering a ton of money for bonds. | ||
| People could make at one point in October 2022, you could buy a bond and make 10% interest. | ||
| And U.S. | ||
| government bonds are the safest investment. | ||
| So why would people buy? | ||
| Why would people buy a mortgage-backed security paying 1.5% when they could buy a bond and they can make 10% or 6% or whatever? | ||
| When they raise the interest rate, you're able to make more. | ||
| And so, because of this, because of the comparative advantage, the market value of the mortgage-backed security goes down. | ||
| And so, if they were to take these securities and sell them on the market, they'd only make 85% of what they initially paid for it. | ||
| They would lose money on it. | ||
| So, it goes on, it says, this is not a solvency problem as long as Silicon Valley Bank maintains their deposits, since these securities will pay out more than they cost eventually. | ||
| In other words, as long as Silicon Valley Bank can hold these mortgage-backed securities for 10 years, then there's no problem with solvency. | ||
| The mortgage-backed securities are worth more than what they paid for them, if they're held to maturity. | ||
| And so, if they keep these for 10 years, then they're worth more than what they bought them for, and that means that they're not insolvent. | ||
| That means that they don't have more liabilities than they have assets. | ||
| If, on the other hand, their liabilities grow because depositors are pulling their money out and they're forced to sell these mortgage-backed securities on the market today, well, they'll lose money on them. | ||
| And if they lose money on them, then they're not going to be able to pay back their depositors and their assets will be less than their liabilities. | ||
| Then the bank would be insolvent, which is exactly what happened. | ||
| And so this is the last part. | ||
| It says, however, yesterday afternoon, Silicon Valley Bank announced that they had sold $21 billion of their securities at a $1.8 billion loss and were raising another $2.25 billion in equity and debt. | ||
| This came as a surprise to investors who were under the impression that Silicon Valley Bank had enough liquidity to avoid selling their portfolio. | ||
| So, deposits began to go down. | ||
| A lot of tech companies were pulling their money out of Silicon Valley Bank. | ||
| That forced Silicon Valley Bank to sell these mortgage-backed securities for a huge loss. | ||
| Not a huge loss, nothing detrimental, but they lost money on the deal. | ||
| So then they go to, they go to people and they say, well we need to raise two billion dollars to make up the shortfall. | ||
| We had to sell all these securities for cash so we could pay out our depositors who are leaving and now we need to raise money to make up the difference of what we lost so that we could stay solvent. | ||
| And once people saw the news that that was happening then they started to pull their money out because they said that Silicon Valley Bank is unable to pay their depositors, it's a failing bank, stock price collapsed, and it became this death spiral. | ||
| And in 72 hours they were not able to pay back their depositors. | ||
| So, the key takeaway though is this. | ||
| The question remains, what forced Silicon Valley Bank to sell these mortgage-backed securities? | ||
| There's a lot of, I think, investigation that's required into why they decided to buy those, why they put all the money in there. | ||
| It's a very abnormal mix. | ||
| And there were some people on Twitter that were saying that This is actually not... a lot of other financial institutions don't have a balance sheet that looks like this. | ||
| They don't have all their money tied up and they don't have over 80 billion dollars in mortgage-backed securities. | ||
| They have to hold the maturity. | ||
| Other banks do not have that kind of exposure like that. | ||
| So there are questions about how this bank is being managed and I know some people have pointed out that it was being managed by women. | ||
| That if you look at who was making these kinds of decisions, it was all women. | ||
| It was all women that were selected for diversity. | ||
| And there was one profile of a woman who was in a high up position and she's got in her bio that she's like an LGBTQ, queer, whatever, lesbian. | ||
| And so there's questions about that. | ||
| But as I said at the top of the show, the big question and the significance of the story is about what's happening with these depositors. | ||
| The reason why Silicon Valley Bank was forced into this situation is because they did not maintain their depositors. | ||
| They received all this money in deposits, they invest the money, and if they maintained their level of deposits, they'd be fine. | ||
| They could hold these mortgage securities for 10 years, they would remain solvent, they would not have a liquidity problem. | ||
| But the problem is that the depositors start to pull their money out. | ||
| And when depositors pull their money out of the bank, the bank has to pay them out in cash. | ||
| And the bank doesn't have as much cash as they have. | ||
| You know, they may have however much money theoretically. | ||
| If you have 100 people at your bank and every person has $100 in the bank, then theoretically the bank should have $10,000 in cash to pay to everybody. | ||
| But that's not how the system works. | ||
| The bank keeps a fraction of that money in reserves, and then most of the money they go out and invest. | ||
| And the purpose of that, of course, is so that they can pay interest, and that's to grow the economy, and that's to encourage investment, and so on. | ||
| So what happens when everybody starts to pull their money out is Silicon Valley Bank has to sell so they can come up with the cash. | ||
| That's what caused the problem. | ||
| So the question then is, well why did everybody pull their money out? | ||
| Why did all the depositors pull their money out of the bank? | ||
| If the deposits tripled from 2019 to 2022 and then they took all this money and they invested it, why then would suddenly their fortunes reverse and they'd have to pay out all these depositors and be forced to sell at a loss and then raise more money? | ||
| And that has a lot to do with what's happening with the interest rate. | ||
| The initial reason for all the deposits coming in from 2019 to 2021 was because of near zero interest rates. | ||
| And when the interest rate is low, that means that you can borrow money for free. | ||
| And when you can borrow money for free, everybody borrows money. | ||
| Interest rates have been nearly zero since 2006. | ||
| Which means that you can borrow money and you know if you had a mortgage before 2022 or 2021, rates were very low. | ||
| Meaning that you could borrow tons of money and it's very cheap to borrow money. | ||
| And that means that if you borrow a lot of money and then you invest it and you make a fortune, that means it's very low risk to borrow money. | ||
| So a lot of people are borrowing money and they're investing it very frivolously. | ||
| If it's cheap to borrow money, then you'll be more risky with your investments. | ||
| If it's expensive to borrow money, you'll be more conservative with your investments. | ||
| So why did Silicon Valley Bank's deposits triple from 2019 to 2022? | ||
| Silicon Valley Bank is in the startup business. | ||
| All their clients, for the most part, are tech startups and tech companies. | ||
| So clearly, all these tech companies, and this is just true broadly, the tech companies are booming and exploding during this period. | ||
| That's why they're putting all this money in the bank, because it's cheap to borrow money. | ||
| People are borrowing money and they're pouring it into tech companies, which are notoriously very risky investments. | ||
| Tech companies are not profitable. | ||
| A lot of them don't succeed. | ||
| And a lot of them are just vaporware. | ||
| A lot of them never even make anything. | ||
| A lot of them are like fake businesses. | ||
| You look at DoorDash, you look at Uber Eats, these are businesses which may never be profitable. | ||
| They may never actually make money. | ||
| So, a lot of these tech companies, they're not actually great investments. | ||
| They're very risky investments. | ||
| But they're exploding because it's free money. | ||
| Because it's a low interest rate and because the Federal Reserve is printing money and the federal government is pouring money into the economy. | ||
| So that's why Silicon Valley Bank is booming. | ||
| Well, now the question is what happened? | ||
| What happened to all the deposits? | ||
| Why does Silicon Valley Bank suddenly have to liquidate their portfolio to pay depositors? | ||
| Well, they have to do that because all these tech companies are now pulling their money out. | ||
| And they're pulling their money out because now that the interest rates are rising, it's like the free-for-all is over. | ||
| And all this money that was pouring into tech companies, in other words, all the waste, all the inefficiency, all these risky investments, is no longer possible. | ||
| Now that it is somewhat expensive to borrow money, now people are not just throwing it around at businesses like the next food delivery app, they're not throwing it at the next dating app, or the next whatever. | ||
| They're playing much more conservatively and putting it into profitable businesses that actually have a chance of succeeding and so on. | ||
| And so that's really the real story here. | ||
| That's the real significance of what happened at Silicon Valley Bank. | ||
| It is a bank run and it caused these problems that these other mid-sized banks It's not going to cause a major financial meltdown, but it raises questions about what's happening in the tech industry, and the tech industry raises questions about what's happening in the economy. | ||
| And what's happening is this... | ||
| We have been binging on free money for like 20 years. | ||
| The entire economy, the banks, the hedge funds, the retirement funds, everything. | ||
| It's all built on debt. | ||
| It's all built on cheap credit. | ||
| It's all built on the federal government printing money, giving it away for free, And what that creates is just a lot of waste and inefficiency. | ||
| And now we're having this problem where we're really between a rock and a hard place. | ||
| We saw the consequences of that policy in the last year. | ||
| What happened after 15 years of printing money? | ||
| What happened after we doubled the money supply in 2020 through the COVID relief packages and the quantitative easing from the Federal Reserve? | ||
| We saw massive inflation last year. | ||
| We saw actually the prospect of persistent high inflation for the next 10 years. | ||
| We've been used to inflation being negligible, like it's not even a factor, like it's always below 3 or 2 percent. | ||
| And we've never had high inflation like most people watching this show in your lifetime. | ||
| The last time we had out of control of inflation was in the 80s. | ||
| And so, for the first time in 30, 40 years, It was irrepressible the effect that the money printing was having on prices. | ||
| Usually they find ways to manipulate it. | ||
| They find ways to hide inflation. | ||
| They manipulate how they calculate the consumer price index. | ||
| They take money or they take items out of the basket of goods. | ||
| They simply change how they calculate the supply of money. | ||
| There's all kinds of ways that they can hide it. | ||
| But it got to a point where it was essentially irrepressible in the last year and a half that the money supply had grown too much and as a consequence prices would rise. | ||
| There's too much money in the system. | ||
| And so we were faced with this persistent high inflation that we just could not get under control. | ||
| So the Federal Reserve began to raise interest rates. | ||
| Raising interest rates reels in the credit, reels in the debt, But then you get problems like this. | ||
| What happens when the Federal Reserve raises interest rates? | ||
| Liquidity crunch. | ||
| When the Federal Reserve raises interest rates, then when there's not as much money flowing around, what happens when depositors pull their money out of Silicon Valley Bank? | ||
| Silicon Valley Bank doesn't have the money to pay all of them. | ||
| And then the bank suffers a bank run, and then the FDIC gets involved, and then it spreads to other banks. | ||
| And so this is something that we're going to see more of in the future. | ||
| And we really are faced with these two options where either the Federal Reserve will maintain high interest rates, in which case people are going to get crunched like this. | ||
| People are going to lose money. | ||
| Like, this just has to happen. | ||
| That's what an economic contraction, that's what an economic correction is. | ||
| Is when people lose money. | ||
| People lose value in real terms. | ||
| So either you raise interest rates and there's a liquidity crunch and this money just disappears. | ||
| It just goes away. | ||
| That's called deflation. | ||
| What would happen if Silicon Valley Bank went totally bankrupt? | ||
| What would happen? | ||
| Their depositors would just be out of money. | ||
| Because of course, a bank creates money. | ||
| Through fractional reserve lending, if a bank receives so much money in cash, And they loan out, they loan all this money out, they're creating money. | ||
| They're creating money out of thin air. | ||
| Because of course the money is theoretically at once in the bank account, it is also invested somewhere. | ||
| So what happens when Silicon Valley Bank fails? | ||
| All that money just disappears. | ||
| All these people that deposited their money, it's gone. | ||
| And what happens when a major tech startup which employs people and has a facility and has capital, what happens when its cash, its deposits, disappear overnight? | ||
| People get laid off. | ||
| They gotta sell the factory. | ||
| They gotta sell the capital. | ||
| What happens when people get laid off? | ||
| They gotta go find other jobs. | ||
| Unemployment rises. | ||
| Now there's more labor than there are jobs. | ||
| That's an economic contraction. | ||
| That's deflation. | ||
| The alternative, and that could get really ugly, that is what happened during the Great Depression was essentially was deflation. | ||
| The alternative is that you cut interest rates and you keep inflation going. | ||
| And you don't have liquidity crunch. | ||
| And the money stays free and the money's flowing. | ||
| But inflation is high for the foreseeable future. | ||
| And when inflation is high for the foreseeable future, what happens is that effectively people are forced into austerity. | ||
| Austerity means you have to stop buying stuff. | ||
| It means like financial discipline, economic discipline. | ||
| What happens when inflation goes up 10% year over year? | ||
| It means that the purchasing power of a consumer's dollar goes down in real terms. | ||
| You make the same amount of money but you can afford less with it. | ||
| It's very real. | ||
| The less money you make, the more real it is, the more apparent it is. | ||
| You will have to choose if you're living paycheck to paycheck making a low income you'll have to choose between whether you're going to pay for your entertainment or you're going to pay for clothes you're going to pay your mortgage bill or your electricity bill or you'll have to make choices you'll have to You have to make an economic decision based on the fact that you don't have as much money or purchasing power as you used to. | ||
| People be consuming less. | ||
| And so that's an economic contraction in another way. | ||
| It's the same thing, but it's just happening in a different way. | ||
| In a liquidity crunch, it's going to be very acute. | ||
| Meaning that the people that are going to lose, the people that are going to not be able to buy stuff are the people that have their money in Silicon Valley Bank. | ||
| And the people employed by the people that have their money in Silicon Valley Bank. | ||
| They can't buy stuff. | ||
| That money's gone. | ||
| That's their austerity. | ||
| It's a very acute and severe austerity. | ||
| If inflation goes up by 10%, there is a much more dull austerity that happens across the board, where people are going to have to cut back on their consumption. | ||
| They'll be forced to. | ||
| Because they can't borrow any more money, and they're making the same amount of money, but they're going to have to economize on the consumption. | ||
| They're going to have to economize on their buying decisions. | ||
| They can't buy everything that they want anymore. | ||
| And so those are the two paths that we have and either of them are good. | ||
| Either you're going to have high inflation or you're going to have these kinds of hiccups which could spiral out of control. | ||
| This one didn't but it can in the future without intervention from the government like what you saw this past week where the government moved in and effectively nationalized the banking industry By taking over Silicon Valley and insuring all the deposits and then moving in on these other banks that looked like they were going to fail. | ||
| So it's two very bad options and ultimately we have just got to rebuild our wealth as a country. | ||
| The underlying problem here is that as a country we're just insolvent between what we have promised to the elderly, the debt that we already have on the books, The fact that we're not making anything in this country anymore and that has a lot to do with our trade policies and immigration policies also. | ||
| We are bankrupt as a country. | ||
| Look at where we're at. | ||
| It's just not even in the cards that we're going to balance our budget, meaning that the government isn't making enough money to pay for what it has, and it will never be able to in the foreseeable future. | ||
| Forget about making enough money to pay for what it needs, and then paying down the debt. | ||
| There's a $30 trillion debt, and we can't even stop digging the hole, let alone begin to start filling it in. | ||
| It's not even in the cards that we're going to get the deficit under control at any point in like 50 years. | ||
| And the deficit is adding to the debt, for people that don't know, let alone before we begin paying down the debt, subtracting from the debt. | ||
| And then you got the problem with the currency. | ||
| The dollar is just out of control. | ||
| There's just too much money in the system right now. | ||
| Money is supposed to be a reflection of the value in the system. | ||
| Money is not value. | ||
| The value in the economy comes from the goods and services that are produced. | ||
| It comes from the productivity of the economy. | ||
| So, when people think about the economy, they think in terms of dollars, it should really be thought of in terms of what the country actually produces and the value of what it produces. | ||
| And so a lot of people, like poor people, think about money in terms of, man if I could just get money to like be an influencer, or if I could just get money to do something, it's like, that's not, that's actually not creating value. | ||
| Like, you will have buying power, you'll be able to consume a lot, but consume a lot of what? | ||
| Somebody has to make that stuff. | ||
| So a really wealthy country, a really wealthy person, Is somebody that is making valuable things. | ||
| And what are the most valuable things? | ||
| The most valuable things are food, energy, building materials, water, things like that. | ||
| We're not making a lot of that stuff anymore. | ||
| Our country doesn't, is not really a rich nation. | ||
| We think we're a rich nation because we have a lot of purchasing power, because we have a lot of dollars. | ||
| But how long is that really going to last? | ||
| There was a really interesting that happened last year, interesting phenomenon, when we put all these sanctions on Russia and everybody said that the Russian economy was going to collapse. | ||
| We cut them off from international trade and the Russian economy is going to go belly up from this. | ||
| And here we are over a year later and Russia's doing fine and we're the ones having the problem. | ||
| Why is that? | ||
| Russia is completely cut off from trade from the richest countries in the world and the countries closest to it. | ||
| And they don't have a market to sell their raw materials anymore and they can't buy a lot of products from countries anymore. | ||
| There's a lot of finished products that they can't buy that are only made in Western Europe or the United States. | ||
| So why were they able to survive? | ||
| Because Russia has real wealth in coal, oil, natural gas. | ||
| They have real wealth in fertilizer, fertile land, food. | ||
| They make the things that they need. | ||
| They're able to make the things that they need. | ||
| And the things that they can't make, they can buy from other countries by selling the things that every other country needs, which are the things they happen to make. | ||
| What does America make? | ||
| What is our export? | ||
| Software? | ||
| Phones? | ||
| Things like that? | ||
| Technology? | ||
| Technology's valuable. | ||
| It's a valuable resource. | ||
| But the question is, how robust is our economy going to be if it only traffics, if it only makes those types of things and does services? | ||
| It's a country that's basically a big tourist hub where countries like China and India and Indonesia and Vietnam and others, they make stuff And that's where the value in the world comes from, and then they come here as tourists and they spend their money. | ||
| And so, all the value in America then, when you think about it that way, when you look at other, when you look at particularly the interior of the country, what industries do they have in the interior anymore? | ||
| Hospitals? | ||
| Schools? | ||
| That's not, that's not an economy. | ||
| That's not making anything. | ||
| That's not a business. | ||
| Who and where are we making things in this country anymore? | ||
| What are we making? | ||
| And what is the value that we're producing in the world? | ||
| How do we buy things? | ||
| Where do they come from? | ||
| Everything that we have seems to come from somewhere else. | ||
| And the only reason we have money is because the people that are out there making things trade the value of their labor over here for services, for experiences, for tourism. | ||
| They move over here and it's education and it's software and it's things like that. | ||
| So, this liquidity crunch is exposing the fundamental weakness of our economy, which is that we don't have an economy. | ||
| We have a financial system. | ||
| We have a financial system where a lot of money is earned and spent and traded and passed around and packaged up into different financial instruments, but America is no longer a productive country anymore. | ||
| And when the country is not making value anymore, that's when you start to get austerity in the form of either inflation or these kinds of crises, crisis to crisis, like with Silicon Valley Bank. | ||
| So, that's the real significance here. | ||
| And the simple fact is, this is a problem of corruption. | ||
| It's just that simple. | ||
| I hate to be that guy, but it is just straight up corruption and greed. | ||
| That's it. | ||
| America has not made sound decisions to make our country solvent and a creditor. | ||
| Instead, everybody is just trying to make as much money as they can. | ||
| Cheap money, low interest rates, quantitative easing. | ||
| Just borrow money, ship the factories overseas, take advantage of the arbitrage, take advantage of the exchange rate. | ||
| And where's the idea of building real things in America, making real jobs, making real things, making real value, making our country actually wealthy? | ||
| Is the next generation going to be wealthy? | ||
| Even if they have jobs, even if they have an income, are they going to be wealthy? | ||
| Are people in Los Angeles wealthy? | ||
| How are they wealthy? | ||
| You could say somebody has like, you know, a million dollars or something and look at the kind of house you can afford in Los Angeles. | ||
| Are you wealthy? | ||
| I don't think that people are really... What is the true value of the things that people have? | ||
| The quality of everything's going down. | ||
| The real wealth of the country is going down. | ||
| We don't see it that way because the numbers keep going up. | ||
| We keep drawing a linear line. | ||
| But it seems like the wealth, the population is growing, so the economy grows. | ||
| So the dollar amount grows. | ||
| But in terms of wealth, do we feel like we're accumulating things? | ||
| Do we feel like we have money to buy things? | ||
| Like for example, look at the city of Chicago. | ||
| The city's totally bankrupt. | ||
| It's totally insolvent. | ||
| It is 100% insolvent. | ||
| And I don't know how that's ever going to change. | ||
| And so as a consequence, can we build great things in Chicago? | ||
| Can we go and build a massive infrastructure project? | ||
| We don't have the money for it. | ||
| Look at the federal government. | ||
| If you even wanted an infrastructure bill to revitalize the country and transform everything, could you even do it? | ||
| You'd have to borrow money to do it. | ||
| We don't have a cent anymore. | ||
| It's a six trillion dollar deficit. | ||
| How much is the budget even? | ||
| I mean we're going to get to the point where we're borrowing more money than we're spending from what we make in revenue. | ||
| And you compare that to other countries that are building things like the Line in Saudi Arabia, and they're building the Burj Khalifa, and they're building entire cities, and they're catering to the rich, and it's luxury, and They're building airports and, like, actually futuristic new things and real infrastructure. | ||
| And over here, we're broke. | ||
| We're broke. | ||
| We have nothing. | ||
| We're bankrupt. | ||
| We have no ideas. | ||
| People are dumb. | ||
| The education system's broken. | ||
| It's just an entire thing waiting to collapse. | ||
| The only way to turn it around is to basically at some point there's got to be a hard stop, there's got to be real financial pain, and then we have to build real things. | ||
| It really does come down to like personal sacrifices. | ||
| It comes down to people have got to take a loss for the sake of the long term, for the sake of the wealth of the country. | ||
| That's what has to happen. | ||
| But everybody wants to get paid. | ||
| So, we'll see. | ||
| But that's what's going on with Silicon Valley Bank. | ||
| It's probably not going to melt down the whole economy, but it is just, this is a little story. | ||
| This is just another Bronx tale from America when 20 years of easy money has come to an end and they now have to raise interest rates. | ||
| And this is the storm we're going to have to weather for some time. | ||
| Otherwise, if the Fed capitulates, it'll just be inflation for the next 10 years. | ||
| But everybody's going to take a hit. | ||
| Everybody's going to become more poor from this. | ||
| Because we had it too good for too long. | ||
| People didn't save their money. | ||
| People didn't invest it wisely. | ||
| It was just a lot of waste and inefficiency. | ||
| Now, there has to be a forced austerity. | ||
| It's as simple as that. | ||
| So, anyway, that's that. | ||
| But, I want to move on. | ||
| I want to get into, if we have time, we'll get into this oil Yeah, you know what? | ||
| I've been gone for an hour. | ||
| I'm gonna save this for tomorrow. | ||
| I said I would probably run out of time anyway, because the Silicon Valley Bank is a big thing. | ||
| And I hope I don't know I mean maybe there's gonna be some economics people that are gonna come in and say actually that's not technically right or no you don't understand listen I'm not an economics major I'm not I'm not like a finance expert but but that's the gist of what's going on here to the best of my ability so you know if it was it was technically not perfect let me know if there's any economics people weigh in let me know if I did a good job I want to hear in the super chats | ||
| If I did a good job or not here, but that's my understanding of it. | ||
| I haven't been into economics in a long time. | ||
| I was in high school. | ||
| I was really into all that. | ||
| When I was libertarian, I was really into the Austrian school of economics and the Chicago school and that kind of thing. | ||
| But I haven't revisited it in a long, long time. | ||
| But here's the fundamental thing, which I think anyone would agree on, is that when people think about money, they have the totally wrong concept. | ||
| It's not about money. | ||
| It's not about cash. | ||
| It's not about the dollar amount. | ||
| The definition of economy, what economy means, what it means to have an economy, and what economics is all about. | ||
| When you say economize, what does that mean? | ||
| It means it's how you allocate scarce resources with alternative uses. | ||
| Meaning, you only have so much labor. | ||
| You only have so much lumber. | ||
| You only have so much copper. | ||
| Labor can be used for a variety of things. | ||
| Lumber can be used for a variety of things. | ||
| Copper can be used. | ||
| How do you allocate all those things? | ||
| How do you allocate the labor? | ||
| How do you allocate the lumber? | ||
| Who gets how much for what purpose? | ||
| That's what the economy is all about. | ||
| And once you understand that, you realize that to have a healthy economy, it's not about people getting paid money. | ||
| And people like, I have a lot of money to spend. | ||
| It's about productivity. | ||
| It's about value. | ||
| And it's about what people value. | ||
| And what people value, I mean, we could get into, we're in a very complex economy. | ||
| It's the age of complexity. | ||
| And so there are a lot of products like, for example, an iPhone where, you know, an iPhone does a million different things and it's a very technical and complicated process and so on. | ||
| But there's fundamental things that everybody needs like energy, food, water, materials to build homes, materials to build buildings, transportation, infrastructure, that sort of thing. | ||
| And so a country that's rich is a country that's building things. | ||
| It's a country that has the materials it needs to build the things that it needs. | ||
| That's a rich country. | ||
| A rich country can make the things that it wants and needs. | ||
| And a rich country will have an abundance so it can export things to other countries. | ||
| That's what it means to be a wealthy country. | ||
| And when you look at America today, it's hard to see where the value is. | ||
| And it's particularly concerning when we look at Education, when we look at healthcare, the things that America exports to the world, we no longer export, for example, cars. | ||
| We don't export steel. | ||
| We don't export those kinds of things anymore. | ||
| Now we export education, healthcare. | ||
| People come here for the best healthcare in the world. | ||
| People come here for the best education in the world. | ||
| People do come here for things like airplanes and weapons, strategic things like that. | ||
| And products like an airplane which require very specialized manufacturing that probably can't be made anywhere else. | ||
| But what happens when the human capital is degraded? | ||
| What happens when, because of the institutional rot, we don't make the best doctors, lawyers, engineers anymore? | ||
| What happens if we don't have the best schools anymore? | ||
| What happens if we don't have the best hospitals anymore? | ||
| What will we even have here? | ||
| What will we even make? | ||
| That's the scary thing. | ||
| So, a real nationalist vision for the economy is that we need to harvest the raw materials that we have in America. | ||
| We need to control the countries that have the raw materials that we need, but don't have. | ||
| And we need all of these strategically Important products to be made here from beginning to end. | ||
| Or if there are intermediary steps that cannot be performed here, they should be performed in countries that are allied and where it's not detrimental. | ||
| Because right now, what would happen if China took over Taiwan? | ||
| Where would we get the semiconductors? | ||
| Where would we get the chips? | ||
| If we were in a trade war with China, where would we get so many of the critical minerals and other strategic resources that are found the majority on planet Earth inside of China? | ||
| Or in African countries that China has bribed and paid off by buying them new government buildings and paying for all kinds of bells and whistles for their country? | ||
| We're in big trouble. | ||
| And that's exactly what's happening with Europe and Russia. | ||
| It's the same story. | ||
| Europe sanctions Russia and guess what? | ||
| It turns out that Europe needed Russia a lot more than Russia needed Europe. | ||
| Because all Germany has is cash. | ||
| But Russia has the gas. | ||
| And it turns out that you can't burn cash for heat in the winter. | ||
| You need gas. | ||
| And they say, well we're gonna build windmills and we're gonna build... Oh yeah, well good luck with that. | ||
| Lots of luck with the windmills. | ||
| So, it's a scary prospect that Russia, China, Iran, Central Asia are all coming together because that's where they make things, that's where the raw materials are from. | ||
| China is bringing Africa together under their suzerainty. | ||
| And what are we going to be left with? | ||
| We're going to be left with a whole lot of nothing. | ||
| We're going to be left with a lot of influencers, and OnlyFans stars, and DoorDash drivers, and Uber drivers. | ||
| Not going to have a lot of cars though. | ||
| Not going to have a lot of food or furniture. | ||
| Not going to have a lot of anything anymore. | ||
| If we don't make it. | ||
| So, it's a big problem. | ||
| But that, to me, that's the fundamental. | ||
| That's the fundamental of what I see here. | ||
| We just print money and print cash and cash does not create value. | ||
| You can print money and yeah, if the Federal Reserve creates money out of thin air and then it goes into the economy and it is spent and invested, yeah, the GDP has to go up. | ||
| The GDP per capita has to go up. | ||
| Do you understand that? | ||
| If the Federal Reserve creates $8 trillion in one year and they eject that into the economy and then that money is spent and invested and is used to purchase imports, the GDP necessarily has to go up in a numerical amount. | ||
| But that doesn't mean that we got richer. | ||
| It doesn't mean we got more productive. | ||
| It doesn't mean the economy grew. | ||
| The only thing that's even...there is no economic growth. | ||
| The only thing that's driving growth... | ||
| Is the fact that the population is growing. | ||
| So of course it's going to grow. | ||
| It has to. | ||
| People are being born, people are being educated, then they're going out and getting a job. | ||
| And they have to earn and spend. | ||
| But there is no real economic growth. | ||
| Have you felt economic growth? | ||
| Do you feel very upwardly mobile? | ||
| Have people been upwardly mobile? | ||
| They haven't. | ||
| What we understand about the economy is expressed in numbers. | ||
| Numbers that represent money. | ||
| Money which represents nothing. | ||
| Do you understand that? | ||
| We understand our economy. | ||
| When we say economy, it is expressed in numbers that represent money that represents nothing. | ||
| The money represents nothing. | ||
| Do you know how much $6 trillion is? | ||
| Do you know how much money that is? | ||
| And the Federal Reserve just created it. | ||
| They just printed it. | ||
| They just created it out of thin air. | ||
| Take the wealth of Elon Musk and Jeff Bezos And multiply that by... what are they at? | ||
| 600 billion dollars together? | ||
| Maybe shy of that? | ||
| Multiply that by 10, and then put it in the economy in one year, all at once. | ||
| And it was just made up. | ||
| And that's all numbers, and then that's our understanding. | ||
| We say, oh, the economy just went way better. | ||
| The economy's doing great. | ||
| We have to understand the economy in a way that is expressed in real terms. | ||
| And what I see as real terms is purchasing power. | ||
| What can we buy? | ||
| What have we bought? | ||
| What's the quality of it? | ||
| How much of it? | ||
| How much could we really buy? | ||
| How much could we really afford? | ||
| And when you look at our country, you look at the state, city, federal governments, you look at people, we're broke. | ||
| People don't have savings, all the big cities are bankrupt, all the big states are bankrupt, and the country's bankrupt. | ||
| So tell me how the country's rich. | ||
| If we're just getting further and further and further in debt, how is the country rich? | ||
| It's not rich, and we're not doing well. | ||
| And whether the contraction comes in the form of inflation, or deflation, whether it's liquidity crunch, or we lose the purchasing power of the dollar, The reality is going to become very apparent soon. | ||
| So... And over there in China, you know what they have? | ||
| They have a billion and a half people. | ||
| And they have a billion and a half people that are getting educated in serious educational institutions. | ||
| They have a billion and a half people that are learning manufacturing. | ||
| Our American companies are going over there and teaching them. | ||
| Because a lot of these factories, you can't just set it up and throw people in there. | ||
| They have to learn techniques. | ||
| They have to learn how to set it up. | ||
| It's very specialized technical knowledge. | ||
| It takes years. | ||
| They're all learning how to do that. | ||
| And what are we doing over here? | ||
| The human capital is being degraded. | ||
| The existing capital and infrastructure is being degraded. | ||
| This is a big problem in the long term. | ||
| And yeah, the Chinese are slobs, okay? | ||
| They spit indoors, and they chew with their mouths open, but they do have a serious educational infrastructure over there. | ||
| And whether you want to call it tyrannical, or communist, or fascist, or whatever, Xi Jinping has lifted 800 million people out of poverty. | ||
| 800 million people, and a lot of them into the middle class. | ||
| And things are getting materially better for the people there. | ||
| They went from farmers, now they have jobs. | ||
| Now they have real jobs in the cities. | ||
| And we're going backwards. | ||
| So it's going to be a pretty bleak, bleak economic picture. | ||
| Especially when this population, you know, that's why they're so dependent on immigration. | ||
| Because that's the real, that's probably the real reason. | ||
| I'm a believer in this. | ||
| It has a lot less to do with Killing white people deliberately? | ||
| Although I'm sure they like that. | ||
| They like that that's going on. | ||
| That's a happy byproduct. | ||
| And I'm sure they're relishing that. | ||
| But I think the big picture is they just absolutely need the immigration. | ||
| Because if they don't, the whole economy is going to collapse. | ||
| It's as simple as that. | ||
| Because that's the only thing that's driving growth anymore. | ||
|
unidentified
|
But... | |
| That's that. | ||
| But I want to move on. | ||
| I want to get into the Super Chats. | ||
| And we'll see what you guys have to say. | ||
| Like I said, if we have any economics nerds, let me know. | ||
| Let me know if I did a good job. | ||
|
unidentified
|
Tell me what your thoughts are. | |
| My mouth is super dry too. | ||
| all right let me see let me just get this up and we'll take a look okay let's and i'm gonna read uh any super chats we got last night i'll i'll take those as well okay Britney sent $400 for Mio and Britney. | ||
| Wow! | ||
| Whoa! | ||
| Wow! | ||
| Thank you so much! | ||
| Can we get some 07s for Mio and Britney? | ||
| Thanks so much, guys. | ||
| My favorite show on Cozy. | ||
| How have you guys been? | ||
| Britney and Mio, the dynamic duo. | ||
| My two favorites in the whole world. | ||
| Best show ever. | ||
|
unidentified
|
Haha. | |
| What a kiss ass. | ||
| Yeah, it's so funny cuz so many of the streamers hate them. | ||
| I don't know why But there's a few streamers on here that just hate politically provoked and I am just so transparently paid off Everybody's like politically provoked isn't even content and everyone watches it. | ||
| You let an eager on the platform and she's Jewish And I'm like what? | ||
| odd I didn't hear anything. | ||
| This is my favorite show ever. | ||
| I'm just transparently, yeah. | ||
| Anyway, best show on Cozy. | ||
| Greatest content ever. | ||
| No, I haven't watched it in like three weeks, but Britney and Mio, they're amazing. | ||
| She's beautiful. | ||
| Mio's the coolest man on the planet, man of the year, time man of the year. | ||
| I love them. | ||
| I love their show. | ||
| Politically Provoked, I love Politically Provoked. | ||
| That's my favorite show ever. | ||
| So hey, thanks a lot for the superchats. | ||
| I appreciate it. | ||
| Corruption. | ||
| Hey listen, China's not gonna buy me off. | ||
| China's not gonna pay me. | ||
| Iran's not gonna. | ||
| I wish they would. | ||
| Iran won't pay me. | ||
| Russia won't pay me. | ||
| The Jews won't pay me. | ||
| Everybody's always like, Nick is paid by the Jews. | ||
| I wish. | ||
| The Jews make a lot of money. | ||
| Now, I would never take money from the Jews, as you know. | ||
| But I would take money from Russia. | ||
| If you're out there, and you are a Russian oligarch, hey, listen, I'd do it for free. | ||
| I'd do it for free already. | ||
| Could you imagine if I was paid off what the show would look like? | ||
| Any Russian oligarchs, Chinese oligarchs? | ||
| I know the Chinese is a big class of billionaires there. | ||
| Help a brother out over here, okay? | ||
| I'd do it for free anyway. | ||
| Nah, but thanks a lot. | ||
| That's the right kind of corruption. | ||
| That's the right kind of corruption. | ||
| That's good corruption. | ||
| We call that good trouble. | ||
| So hey, thanks a lot. | ||
| I don't take Jewish money though. | ||
| Jewish money isn't good here. | ||
| Except for Britney's. | ||
| Except for Britney's. | ||
| Her money's great. | ||
| No, but thanks a lot. | ||
| Britney and Mio. | ||
| 07s. | ||
| Round of applause. | ||
| WonderPetsPatriot sent $3. | ||
| Nick Fuentes is cancelled from every bank in America. | ||
| And then the banks collapse. | ||
| The Groyper curse doesn't stop. | ||
| It's true. | ||
| I keep getting banned from banks. | ||
| How about some banks get banned from... Solvency. | ||
|
unidentified
|
Eh. | |
| He never brought that idea up with me. | ||
| And, um, here's the thing. | ||
| The banking industry is very tightly controlled, so people say buy a bank. | ||
| banks in America that give interest-free loans to Muslims, religious liberties. | ||
| Christians should start the same. | ||
| Ben. | ||
| Man, he never brought that idea up with me. | ||
| And here's the thing. | ||
| The banking industry is very tightly controlled, so people say buy a bank. | ||
| Honestly, I don't even think that would help. | ||
| McMahon sent $3. | ||
| We're gonna stop dissing the Trannies all the time. | ||
|
unidentified
|
Wow. | |
| Okay, I don't wanna go that far. | ||
| Zoomer Will sent $3. | ||
| I reject Judeo-racism. | ||
| Congratulations. | ||
| Burgish sent $25. | ||
| Hey! | ||
| My mom wants to be sure you received the book she wrote. | ||
| She is so thankful for the commentary you wrote. | ||
| It covers the whole back of the book. | ||
| Hey, yes! | ||
| I did get the book. | ||
| Thank you very much. | ||
| It turned out very good. | ||
| You know, a lot of these Amazon books are super cheap and not so good, but this book is really good. | ||
| It came out very well. | ||
| It's thick, too. | ||
| It was a lot. | ||
| I was very impressed, because I'm thinking, what's this gonna... No offense, but I'm thinking, like, a lot of people, they say they're gonna write a book. | ||
| It's like a pamphlet. | ||
| I was actually very impressed. | ||
| Very thick. | ||
| Good length. | ||
| Book. | ||
| Nice cover. | ||
| So I thought she did a great job on it and I appreciate the advance copy. | ||
| Thanks a lot. | ||
| My intro on there. | ||
| My preface. | ||
| So yeah, I appreciate it. | ||
| John Ralph sent $3. | ||
| That golden ass moment when Walter White rigs a pipe bomb to blow up... Oh! | ||
|
unidentified
|
Oh! | |
| Oh! | ||
| Hey! | ||
| Alright! | ||
| Stop! | ||
| Stop! | ||
| No spoilers! | ||
| Zeno sent $5. | ||
| I bought the Yeezy Gap hoodie. | ||
| Very comfortable. | ||
| It makes me feel confident when I shop at Target. | ||
|
unidentified
|
Stop! | |
| Do not spoil that show for me, okay? | ||
| I didn't even hear that. | ||
| I turned my brain off. | ||
| I didn't even hear it. | ||
| I'm glad you like your fucking hoodie though. | ||
| Congrats. | ||
| Crab Goblin sent $3. | ||
| Joe the Boomer be like, Brant, do you know why I had to punish you? | ||
|
unidentified
|
Yeah, that's true. | |
| Joe the Boomer. | ||
| Shouldn't have messed with him. | ||
| Listen, Brant did it to himself. | ||
| When people find the remains of Brant and they say, what happened? | ||
| What did he do to deserve this? | ||
| Why does God allow these things to happen on Earth? | ||
| Brant knows. | ||
|
unidentified
|
He did it to himself. | |
| We all know. | ||
| Pretty underscore fly underscore white underscore guy sent $3. | ||
| 156. | ||
| Thinking about that time when Hassan said racial differences in IQ literally justifies the ethnostators in your debate panel with him. | ||
| I don't remember that. | ||
| What did he say? | ||
|
unidentified
|
Ugh. | |
| It's a long time ago. | ||
| It's three years ago. | ||
| If you're still interested in exercising more, I'd suggest rock climbing and hiking. | ||
| Way less boring than simple weight lifting, making it easier to stay consistent. | ||
| Yeah, look at me. | ||
| You think I'm gonna be rock climbing? | ||
| You think I'm gonna go rock climbing? | ||
| I'm gonna put on my little booty shorts and my helmet and my harness? | ||
| Do you know how gay you look when you're rock climbing? | ||
| You ever thought of that? | ||
| You know how stupid you look? | ||
| People go hiking, they get their backpack, they got all their gear. | ||
|
unidentified
|
I don't think so. | |
| I'm not interested in exercise. | ||
| I was never interested in exercising. | ||
| I thought it might be a good idea to do a little calisthenics. | ||
| I don't think I ever said I was interested in exercising. | ||
| I'm gonna go rock climbing. | ||
| Get your goggles on! | ||
| Get your goggles on! | ||
| Get your helmet on! | ||
| Please. | ||
| All these activities that people are out there doing Rock climbing and hiking and... My mom's telling me to do yoga. | ||
| I'm like, mom, you imagine me doing yoga? | ||
| My mom's like, you're so stressed out all the time. | ||
| You should do something like yoga. | ||
| I'd hate to see you so stressed out all the time. | ||
| You should do something like yoga. | ||
| Would you ever? | ||
| Yeah, I'm gonna do yoga. | ||
| I'm gonna get in the leotard on a mat with my fucking shoes off and do all this stretching. | ||
| I don't know what people... Do you know me? | ||
| It's like people don't even know me. | ||
| Yeah, I'm gonna go rock climbing. | ||
| One, I'm afraid of heights. | ||
| Two, I'm not gonna go rock climbing. | ||
| I'm gonna drive someplace, put all my belongings in a little locker, strap up, get all my... get all my gear on. | ||
| And then what? | ||
| Climb up some... No. | ||
| No. | ||
|
unidentified
|
No. | |
| I don't... See, I'm so... Listen, I'm just against hobbies. | ||
| I am... I'm anti-hobbyist. | ||
| Stop with the hobbies! | ||
| Everybody wants all these hobbies where they're gonna get their hobby outfit, spend a lot of money on this, go to some place. | ||
| I'm very much like, if people didn't do it 300 years ago, I don't want to do it. | ||
| If people didn't do it 50 years ago, I don't want to do it. | ||
| I'm like old school. | ||
| You know the exercise I want to do? | ||
| I want to walk. | ||
| Keith Woods really got me into walking. | ||
| He tells me that he walks three hours every day. | ||
| He walks all day. | ||
| And he's skinny. | ||
| And he's old. | ||
| He's an old guy. | ||
| I'm a young guy. | ||
| He's very old. | ||
| And he's skinny. | ||
| And so I was asking him, I was like, you work out? | ||
| He's like, no. | ||
| And he says he walks. | ||
| He says he walks everywhere. | ||
| It's like the best exercise. | ||
| You can't get cancer. | ||
| You can't get a heart attack. | ||
| I'm like, where do you, what do you mean you walk? | ||
| Where do you walk? | ||
| He goes, I just walk everywhere. | ||
| I just walk all day. | ||
| I'm like, man. | ||
| This guy, Keith Woods, is like the model citizen. | ||
| He is the, well, except for that he's not Catholic. | ||
| He's a classical theist. | ||
| He is like the model citizen in my country, in my world. | ||
| Model citizen. | ||
| You wanna know why? | ||
| He doesn't have a job. | ||
| He doesn't have a job. | ||
| He travels. | ||
| He just walks everywhere. | ||
| He pontificates. | ||
| He reads. | ||
| This guy's great. | ||
| He's not in any of this bullshit like lifting or exercising or rock climbing or yoga or, you know, waging. | ||
| He's just a guy. | ||
| He's just like your classic European guy. | ||
| Classic European guy. | ||
| Just gonna eat what he wants, enjoy his life at his own pace, walks around leisurely. | ||
| This is how I am. | ||
| This is how I am. | ||
| Everybody wants to put themselves in a hamster wheel. | ||
| That's what I've found. | ||
| Everybody wants to put themselves in a box with a bunch of holes cut up and ride on a hamster wheel with a bunch of straw. | ||
| And they want a little water jug. | ||
| They want a little water jug with a straw. | ||
| And they want straw. | ||
| And they want a hamster wheel. | ||
| And they want like a little rope hanging. | ||
| I don't know what hamsters play with. | ||
| What do they do for fun? | ||
| But everybody wants to do that. | ||
| Everybody wants a boxed life. | ||
| Meal prep. | ||
| I gotta do my meal prep. | ||
| I gotta get a bunch of plastic Tupperware and get my chicken and put it here and that'll be my Monday meal. | ||
| I gotta go rock climbing. | ||
| I gotta get my harness. | ||
| I gotta get my gear. | ||
| I gotta do this and that. | ||
| And you know me, I'm like minimal. | ||
| I'm minimal. | ||
| I'm complicated enough. | ||
| The human mind, my human mind is complicated enough. | ||
| I don't need to fill it with all this, all these activities, all this stuff. | ||
| Walking, talking, eat dinner, dessert, coffee. | ||
| It's all I need in my life. | ||
| Watch a little TV, read a book. | ||
| What else do you need in your life? | ||
| I gotta go rock climbing! | ||
| Fuck you! | ||
| I gotta do yoga! | ||
| Hey, you know, there's some... I know there's a friend of mine who does yoga. | ||
| So I can't be too harsh. | ||
| I think it's really gay. | ||
| But, uh, you know, but I'm just... | ||
| What would you call that? | ||
| I don't know what you would call that, but I'm just against those things. | ||
| Closed-minded, you could say. | ||
| Ignorant. | ||
| Obtuse. | ||
| But I'm just against all of that. | ||
| I'm very anti-hobby. | ||
| I'm very pro, like... I'm very in favor of people that know about music and books and art. | ||
| I'm very into that. | ||
| I'm very against people that are really into like activities. | ||
| Do you know what I'm saying? | ||
| Like, like John Miller. | ||
| John Miller is another one. | ||
| He knows everything about music. | ||
| He knows about art. | ||
| He knows about history. | ||
| He reads books. | ||
| He knows about good food. | ||
| And he's just a leisurely man. | ||
| He does, he takes care of business. | ||
| He's awesome. | ||
| And that's kind of what I aspire to be. | ||
| Not some guy who's like bicycling around and on these contraptions and climbing things. | ||
| Climbing everything. | ||
| Oh look at him, he's climbing something else. | ||
|
unidentified
|
No. | |
| No, I don't think so. | ||
| No rock climbing. | ||
| It's way less boring than weightlifting! | ||
| Oh, geez. | ||
| Get out of my face, man. | ||
| I don't know what you call that. | ||
| What do you call that? | ||
| But that's my, that is my mentality. | ||
| Someone says lift and know about music. | ||
| No, don't lift. | ||
| I'm, you know what? | ||
| I've had it. | ||
| I'm done with this lifting thing, okay? | ||
| You gotta lift, bro! | ||
| Why? | ||
| What do you see me doing? | ||
| You think I'm gonna go out and get in some big fight? | ||
| What do I look like? | ||
| I'm going out. | ||
| Who am I getting in fights? | ||
| With who? | ||
| Where? | ||
| I'm gonna go and get in fights? | ||
| Where? | ||
| This isn't the Wild West. | ||
| What do we live in? | ||
|
unidentified
|
A cave? | |
| It's like, all these people you gotta learn how to lift. | ||
| You live in Los Angeles. | ||
| Who are you gonna be fighting? | ||
| Criminals? | ||
| They have guns. | ||
| What, are you gonna fight? | ||
| You're not fighting fucking anybody. | ||
| You're not fighting anybody. | ||
| You're not lifting anything heavy. | ||
| Fuck you. | ||
| Who are you kidding? | ||
| Who are you kidding with this lifting stuff? | ||
| Lift this and lift that. | ||
|
unidentified
|
I don't lift. | |
| Lift this. | ||
| Climb that. | ||
| Get on this bicycle. | ||
| How about I'm doing none of it, all right? | ||
| I wake up. | ||
| I wake up. | ||
| I make my coffee. | ||
| I drink my latte. | ||
| I'm a latte drinking. | ||
| Yeah, okay. | ||
| Maybe that's a little cringe, but that's how I am. | ||
| That's my life. | ||
| Nick's laughing now, but when he's stuck at the bottom of a canyon and can't climb out, who's gonna be laughing? | ||
| Yeah. | ||
| Yeah, when I find my... Right. | ||
| When I find myself at the bottom of a canyon, which frequently happens, I can imagine all the scenarios when I'll need to rock climb my way out of a dilemma. | ||
| Rock climb or lift. | ||
| Physically lift my way out. | ||
| Oh man! | ||
| Here I am laying on the ground crushed under a heavy wooden crate. | ||
|
unidentified
|
If only I had lifted heavy things, then I wouldn't be trapped here. | |
| Oh, man. | ||
| That's funny, man. | ||
| Genius, you're way out of that canyon. | ||
| Yeah, you're right. | ||
| So yeah, I'm very against all this activity. | ||
| Okay, I'm very against all these activities that people are doing. | ||
| All right. | ||
| I'll make some allowances. | ||
| You know what I think is cool? | ||
| Fishing. | ||
| I think fishing is... I don't fish. | ||
| It's too boring for me. | ||
| But I think fishing is a fine hobby. | ||
| Chess. | ||
| Great hobby. | ||
| Haunting. | ||
| I'm a little 50-50. | ||
| Haunting's a little gay. | ||
| Okay, it's a little gay. | ||
| But, okay. | ||
| Haunting. | ||
| I think learning a musical instrument. | ||
| I think that's great. | ||
| Anything more, like, even running. | ||
| Even these runners. | ||
| You know, if you're going on a run, just save it. | ||
| What are you running from? | ||
| Just walk. | ||
| Just walk someplace. | ||
| People... I don't like the running. | ||
| I don't like the bicycling. | ||
| I don't like the hiking, climbing, lifting. | ||
| You like to play sports? | ||
| Okay. | ||
| Do a recreational sports thing. | ||
| That's fine. | ||
| That's okay. | ||
|
unidentified
|
Anyway. | |
| It's all, here's the thing. | ||
| It's all very just like artificial. | ||
| It just seems to me to be like a big artifice It's lifting and you know what happens when people don't lift for like a few months. | ||
| They just get fat Cuz they're not using it. | ||
| They're not really so it's like why are you lifting? | ||
| You know what I'm saying? | ||
| I think you're as strong as you should be. | ||
| I think I think everybody is what they need to be and You know, I've never been in a situation where I thought, like, oh man, I wish I trained myself running more. | ||
| Why? | ||
| It's like, I don't need to run. | ||
| When am I going to be running? | ||
| This, like, training. | ||
| What are all these people training for? | ||
| Strength training, you know, cardio training. | ||
| Training for what? | ||
| What are you training for? | ||
| What's going on? | ||
| What, is there something that's going to happen that I'm not aware of? | ||
| What are you training for? | ||
| Training for what? | ||
| All these people are always training for something like like they're going to the Olympics or like And a lot of these guys it's like you're 5'10. | ||
| What are you training for? | ||
| I'm 5'9. | ||
| What are you training for? | ||
| Do you know that a guy who's like 30 pounds heavier than me or like 3 inches taller than me is just gonna beat the fucking shit out of me no matter what? | ||
| You know what I'm saying? | ||
| It's like so who are we really kidding? | ||
| I mean, within reason. | ||
| In some, some instances, maybe you get lucky or whatever, but you know what I'm saying? | ||
| All these people training, training, training. | ||
| You know, you don't walk down the wrong alley, somebody executes you, and you're done. | ||
| Training. | ||
| Okay. | ||
| So, I don't know. | ||
| That's how I feel about it. | ||
| That's why you learn Brazilian Jiu Jitsu and carry a gun. | ||
| Okay. | ||
| You're in denial! | ||
| You're in denial. | ||
| You're in denial. | ||
| God runs the world. | ||
| All this training isn't going to mean anything. | ||
| You have to surrender to the uncertainty and chaos of life. | ||
| Everybody's resisting the current. | ||
| And I'm resisting the current in a certain sense. - Yes. | ||
| In a more meaningful one, I guess. | ||
| Nick has a hang-up about this? | ||
| It's not a hang-up. | ||
| I'm just thinking out loud, okay? | ||
| Let me free-think for a second. | ||
| Sheesh. | ||
|
unidentified
|
Sheesh. | |
| Sheesh. Sheesh. | ||
| Training. | ||
| Always a training. | ||
| You know what I think about? | ||
| I think about, like, these immigrants. | ||
| I think about, like, a Chinese immigrant man who's, like, an old guy, and he's, like, short, and he's just, like, the world is his oyster, and he's not in the gym lifting, he's not running around or rock climbing, he's just, like, an old school guy. | ||
| I just want to be, like, an old school guy. | ||
| You know, I just, I strive to just be old school. | ||
|
unidentified
|
Anyway. | |
| Alright. | ||
| Nick is on point, but the testosterone benefits are the ultimate reason to lift. | ||
| You don't have to train. | ||
| Yeah, I... Okay, I can see that. | ||
| That's fair. | ||
|
unidentified
|
Fair enough. | |
| That's fair enough. | ||
| Keckdog sent $3. | ||
| Everywhere I see Brandt, I see that he's in Joe the Boomer's shadow. | ||
| Not that Brandt is following Joe, but that Joe's massive shadow looms over Brandt because Joe is following him. | ||
| What are his intentions? | ||
|
unidentified
|
Nobody knows. | |
| Corelix sent $5. | ||
| Thoughts on buying silver? | ||
| Um, I don't know. | ||
| I'm not, I don't really give investment advice on the show. | ||
| I think it's a meme though. | ||
| Corlick sent $5. | ||
| Who will be the first company to pay for ad time on Cozy? | ||
| I don't know if we're ever gonna do ads. | ||
| Brandon sent $5. | ||
|
unidentified
|
Okay, gross. | |
| Triz sent $10. | ||
| Hey Nick, aka the Growiper, love ya, and the Fed. | ||
| Hey, love you too, buddy. | ||
| Noah sent $10. | ||
| Yo, the Pearly videos were awesome. | ||
| I know you're a busy man, but I would love more collabs like that. | ||
| Not only does it spread awareness of the movement, but it's really entertaining as well. | ||
| Would be awesome to see you on a show like Fresh and Fit. | ||
| I would love more collabs. | ||
| Let me see if I could do... What do I look like? | ||
|
unidentified
|
A waiter? | |
| I would love a refill on this Pepsi. | ||
| Oh, let me get right on that. | ||
| Let me take care of that for you. | ||
| I would... I know you're busy, but I'd love another collab. | ||
|
unidentified
|
Oh, okay. | |
| Anything else? | ||
| I appreciate it. | ||
| I'm glad you liked it. | ||
| Yeah, I'll be doing Fresh and Fit I think at some point soon. | ||
| Ari sent $100. | ||
| Finish 5th place in a major poker tournament last weekend while wearing AF merch. | ||
| Doing my part to spread the message. | ||
| I saw that! | ||
| That was awesome! | ||
| Yeah, thanks for the big super chat, man. | ||
| Congrats on the 5th place finish. | ||
| I don't know how good that is, but hey, congratulations. | ||
| Very awesome. | ||
| I did see that. | ||
| Yeah, everybody was... I didn't even think it was real. | ||
| But that's very good. | ||
| Congratulations, man, and thanks a lot. | ||
| Well done! | ||
| I appreciate you putting the shirt on to support the show. | ||
| My man. | ||
| America First Rising. | ||
| Kemi sent $10. | ||
| Hey Nick, I'm trans and support you. | ||
| You'd probably like me dead but I'm Catholic and Italian too and frankly the demographic change will affect me more than white people. | ||
| Anyways I like that you're changing the Overton window of discussion. | ||
| Keep it up! | ||
|
unidentified
|
Oh, brother. | |
| Well, hey, listen, all right? | ||
| First of all, I don't like this. | ||
| I know you probably want me dead, okay? | ||
| We don't want anybody dead, okay? | ||
| But you're not trans. | ||
| You are confused, okay? | ||
| I know you heard it all before. | ||
| I know all these trannies are like, oh yeah, I've heard it all before. | ||
| But look, you're not trans, all right? | ||
| If you're a guy that wants to be a girl or vice versa, you know, you're just a guy or you're just a girl. | ||
| So, just gonna have to deal with that. | ||
| Alright. | ||
| And I don't know, is that supposed to be some kind of, uh, is that a bait? | ||
| Is that supposed to be a joke? | ||
| I'm Catholic, Italian, and trans. | ||
| What is that, a joke? | ||
| But no, you're, uh, come on. | ||
| Make your people proud. | ||
| Don't be trans. | ||
| Be a normal guy, okay? | ||
| You're Italian. | ||
| You're Catholic. | ||
| Come on, brother. | ||
| Come on, Paisan. | ||
| Let's cut the shit. | ||
| Stop thinking you're not a girl. | ||
| You're a guy. | ||
| I assume. | ||
| I don't know. | ||
| But I assume. | ||
| Whatever you were born as is what you are. | ||
| We can't change who we are, what we are. | ||
| We are what we are. | ||
| So much of what goes on is that. | ||
| You know, so much of what has gone wrong is people are unwilling to accept their lot. | ||
| Accept! | ||
| Everybody says, you know, you gotta strive to do this and do that. | ||
|
unidentified
|
Stop! | |
| Stop! | ||
| Stop it! | ||
| Accept who you are. | ||
| We had too much of these Disney movies that were like, you don't need to let anyone tell you what you're about. | ||
| You can be whatever you want. | ||
| It's like, no, you can't. | ||
| No, you can't. | ||
| Now, like a lot of these black people are just dumb. | ||
| I love them. | ||
| You know, there's a lot of smart black people. | ||
| Like Sneako, or Bryson, or Ye, or John Miller. | ||
| Okay? | ||
| But the reality with race and IQ is that there's a lot of black people with a below 85 IQ. | ||
| That's okay. | ||
| That's okay. | ||
| We're all people. | ||
| And there are white people with a below 85 IQ. | ||
| There's all kinds of people. | ||
| There's more black people with a below 85 IQ than there are white people with a below 85 IQ. | ||
| That's fine. | ||
| And you know what? | ||
| That's fine. | ||
| And that's okay. | ||
| We have to talk about it as a society. | ||
| And women are bad leaders. | ||
| Women are bad leaders and they're emotional and they shouldn't vote because they're easily influenced. | ||
| That's okay. | ||
| That's why God made men to make all the decisions. | ||
| It's okay. | ||
| And we love women. | ||
| And we love black people. | ||
| We love their...they're funny. | ||
| And when it comes to, you know, these trans people, okay. | ||
| You're a guy. | ||
| You're a little effeminate. | ||
| You're a little girly. | ||
| Well, just work on that, okay? | ||
| But you gotta accept. | ||
| It's about acceptance. | ||
| It's about acceptance. | ||
| And then everybody's gotta play by the rules. | ||
|
unidentified
|
We are what we are. | |
| So... And that's one of these realities that people are not able to accept across the board. | ||
| Be who you are. | ||
| Be who you really are. | ||
| Don't be who you think you are, what you want to be, this like denialism. | ||
| We are who we are. | ||
| We are what we were born as. | ||
| Short, tall, handsome, ugly, smart, dumb, black, white. | ||
| We are what we are. | ||
|
unidentified
|
Okay? | |
| I wish I was 6'3", but I'm not! | ||
| And I have to accept that. | ||
| I can't say, I have height dysmorphia, I'm gonna transition into being 6'3", I'm gonna get my legs broken and, like, extended. | ||
| So... So, no, we don't want you dead, but we just want you to be who you are, okay? | ||
|
unidentified
|
Be who you are. | |
| You're not a girl. | ||
| Catholic Gooba sent $5. | ||
| Half-eyed kiff you'll agree with this, but I think it makes more sense to view trans as more of an addiction than a delusion, where the drug is having a female experience, likening it to porn addiction. | ||
| Catholic Gooba sent $10. | ||
| Two halves in the same way a porn addict knows he isn't having sex with the women on screen, a tranny knows he isn't and will never be a real woman, but loves the feeling of being perceived as or treated like a woman. | ||
| I don't think that's quite right. | ||
| There's something in there, yeah. | ||
|
unidentified
|
I don't know. | |
| I haven't talked to enough trans people to really get it, but like with all these perversions, there is like a fundamental mismatch between the interior experience and the reality. | ||
| That seems to be the case. | ||
| And there also seems to be the case that what we call one thing is actually something else. | ||
| What we call a guy thinking they're a girl and undertaking these great pains to become like a girl, it's actually something else. | ||
| So that part of your premise, I think, is right. | ||
| Like, I don't think that these... Like, I was watching that Dylan Mulvaney, did you see that freak show the other night? | ||
| And I look at that person, and it's clear, it's so clearly a guy. | ||
| Like, he can't think he looks like a girl. | ||
| Nobody thinks he looks like a girl. | ||
| He can't think he's even coming close. | ||
| He's not a girl. | ||
| He knows he's not a girl. | ||
| But, but there's gotta be, is it, is it some kind of sexual thing? | ||
| Is it like, they get off on that? | ||
| Or is that like, like you said, it's, It's these kinds of isolated experiences. | ||
| I don't quite... I can't quite wrap my head around it, but you're right. | ||
| It's not... It is certainly something that... People aren't grasping the fullness of it. | ||
| So, I agree with the premise. | ||
| Richard Percival sent $10. | ||
| If Republicans get their war against the cartels in Mexico, won't that inadvertently cause millions of Mexicans to flee to America as legitimate refugees? | ||
| Yeah, probably. | ||
| Yeah, that's a good point, actually. | ||
| Eddie Van Graham sent $3. | ||
| Sending this before the show starts. | ||
| Did you hear that two of the largest banks in Israel were able to take $1 billion out of Silicon Valley Bank before the Feds seized it? | ||
| These niggas. | ||
| Yeah, so did Teal. | ||
| I wonder what Teal and Israel have in common. | ||
| I wonder if they're connected in some way. | ||
| Millennial underscore grow I percent ten dollars. | ||
| Can't tell if Tucker Carlson or Destiny. | ||
| Facts! | ||
| If you close your eyes and listen to that clip, it's actually just Steven Bunnell. | ||
| Yeah, this clip? | ||
| I like women, actually, because they're totally different. | ||
| I don't understand, like, 80% of what they say. | ||
| I don't need to. | ||
| I'm married to one for 32 years. | ||
| I have three daughters. | ||
| Hang on, wait, you don't understand 80% of what women say? | ||
| What, are you an idiot? | ||
| You don't understand? | ||
|
unidentified
|
What? | |
| Honey, what are you saying to me? | ||
| Okay, let's resume. | ||
| People just say this stuff, like, uncritically. | ||
| Because they're totally different! | ||
| I don't understand, like, 80% of what they say. | ||
| I don't need to. | ||
| I'm married to one for 32 years. | ||
| I have three daughters. | ||
| I think they're, like, fascinating. | ||
| I listen super carefully to what they say. | ||
| What's the biggest thing you've learned in your marriage about women? | ||
| So your average young man looks at women for being... So you're just, like, full of shit. | ||
| When you say stuff like that... | ||
| Listen, I'm not trying to be mean here, but you're just full of shit. | ||
| When you say, I don't understand what women say, they're just fashionable. | ||
| It's like, that's cap! | ||
| That's cap! | ||
| That's a lie! | ||
| That's bullshit! | ||
| What do you mean you don't understand 80% of what they say? | ||
| It's pretty simple. | ||
| What are they talking to you about? | ||
| Chemistry? | ||
| Physics? | ||
| What do you mean you don't understand 80% of what your wife says? | ||
| When your wife says, Honey, I had a bad day at work. | ||
| What part about that is unclear? | ||
| Honey, so we have a birthday coming up and I'm gonna get the president... What part about that don't you understand? | ||
| I'm not married. | ||
| I don't have a wife. | ||
| But I have women in my family and I understand perfectly 99.9% of what they say. | ||
| 99.9% of what they say, not 20%. | ||
| I listen very carefully to what they say. | ||
| Really? | ||
| Juvenile girls? | ||
| You listen very carefully to what juvenile girls say? | ||
| Why, in case you might miss something really insightful? | ||
| About what, like God and the universe? | ||
| Listen very carefully to what juvenile girls say, because there might be a nugget in there. | ||
| Eureka! | ||
| I just figured it out. | ||
| Seriously? | ||
| Now, I understand. | ||
| You love your family. | ||
| You're an attentive father. | ||
| You listen fairly. | ||
| Okay, that's one thing. | ||
| But this, like, Hawaiian women are a great mystery. | ||
| Don't think so. | ||
| That's just crap. | ||
| So, anyway. | ||
| A young man looks at women, if we're being totally honest, and is like, they're dumb. | ||
| They're easy to fool. | ||
| Like, I can talk him into sleeping with me. | ||
| And the reason they feel that way is because women have a completely different way of seeing the world. | ||
| Their brains are different, measurably. | ||
| What you learn when you get married and you, like, decide, like, no, I'm staying with you. | ||
| I'm helping you raise your children. | ||
| I'm going to die next to you. | ||
| Like, you really make the commitment and you learn. | ||
| They're amazing. | ||
| They force you to think about the world in a really different and really important way. | ||
| And it takes a long time to learn that. | ||
| Do they really? | ||
| Perhaps they do. | ||
| I don't know if that's a good thing. | ||
| I can't say that I ever got a ton of wisdom from a woman and it changed how I see the world. | ||
| If anything, with few exceptions, I hear things from women and it's bad advice. | ||
| It's like the wrong way to look at something. | ||
| It's like a very childlike, juvenile way of seeing the world. | ||
| And is this supposed to be like the antithesis of the Tate thing? | ||
|
unidentified
|
Pass. | |
| That's just cold. | ||
| I'm sorry, that's just cold. | ||
| That's just, that's just a load of shit. | ||
| And it's just bad content. | ||
| Women are amazing! | ||
| They're fascinating! | ||
| They're so different than... It's like seriously, are we not so far past that? | ||
| Are we so... Are we not so far past that kind of thing? | ||
|
unidentified
|
Grow up. | |
| Line Rider sent $20. | ||
| I love the sentiment of Christian futurism because the LARPy Trad guys are basically just the other side of the atheist liberals who think without the Christian Dark Ages we'd be living in Star Trek right now. | ||
| When in reality it's Christianity that's advanced our civilization up to this point. | ||
|
unidentified
|
Yeah, I agree. | |
| Line Rider sent $3. | ||
| It was the Christians who believed in a rational creator slash lawgiver that discovered the laws of physics and it was the Catholics that created the first universities. | ||
| Atheists just hijacked our society. | ||
| True. | ||
|
unidentified
|
Very true. | |
| Josh the Remover sent $3. | ||
| Thank you for sharing my tweet on Telegram. | ||
|
unidentified
|
Of course. | |
| That made my day. | ||
|
unidentified
|
Yeah, great clip. | |
| Desk sent $10. | ||
| Space hot dogs, a solar snack tip to tip shaped so nice, but will they fit? | ||
| Analogist. - Okay. - Chuggers sent $5. | ||
| Bear five is coming. - What, like bear market? | ||
|
unidentified
|
I don't know what that means. | |
| - Lima sent $3. | ||
| Scarborough Fair, parsley, sage, rosemary, and thyme. | ||
| Love is Blue, Prelude, Minuet, Toccata, and Nocturne. | ||
| Color My World, Orange Blossom, Yellow Sunshine, Green Grass, and Blue Sky. | ||
| - Okay. - Spence sent $3. | ||
| I remember the polar bear psyop from kindergarten. | ||
| I started doing my homework in the dark in my bedroom. | ||
| Keeping the light off all the time to save polar bears. | ||
| Poopa sent $5. | ||
| Nick is Harry and Sneeko is Ron and Brit is Harmony and Yee is Dumbledore and Charlie Kirk is Draco and Lauren Southern is Ginny and Netanyahu is Voldemort and reply to this post or your mother will D. | ||
| That's funny at the end. | ||
| sent three dollars special mentions all for one athos porthos aramis and art on yon unforgiven north south east and west madachi and bullkiss holy glaive okay pretty underscore fly underscore white underscore guy sent three dollars 157 157. | ||
| It's interesting how both Spencer and Destiny seem to recognize that religion is necessary, but they only look at it from a utilitarian perspective. | ||
| Spence sent $3. | ||
| Would you consider streaming on Kik, eh Dean Ross? | ||
| Not sure if you'd be allowed but you would easily be the number 2 streamer on there. | ||
|
unidentified
|
Yeah, maybe. | |
| I'll try. | ||
| I'll start an account. | ||
| I'm not going to stream the show, but I'll stream something more tame. | ||
| I don't know. | ||
| Goblin sent $3. | ||
| Do you think viewership would be any different if you did your show at like 8:00 PM Eastern instead of 1:00 AM? - I don't know, maybe. | ||
| - Spence sent $4. | ||
| Seems like Signature was shut down to cut off Americans from purchasing crypto, was used as a wire transfer backend for Binance and other exchanges. | ||
| They didn't have a balance sheet problem like SVB. | ||
| - I don't think it was shut down I think it was shut down because of exposure to what was happening with Silicon Valley Bank. | ||
| Browell Yo Gutierrez sent $50. | ||
| Just rewatch the Ye and Alex Jones interview and still find what Ye said and did, too funny. | ||
| Glad he never took off his mask. | ||
| Alex keeps saying he's going to let Ye speak but every time Ye was cooking he would interrupt him. | ||
| Must be cool to know Ye has your back to finish your points. | ||
| God bless you and Ye. | ||
| Christ is King. | ||
| Hey, thanks a lot, man. | ||
| I appreciate it. | ||
| Interview was awesome. | ||
| Yeah, he's very much like that. | ||
| He likes to hear everybody finish their train of thought. | ||
|
unidentified
|
He's a good guy. | |
| Misunderstood. - Browell Yo Gutierrez sent $100. | ||
| You're always on time. | ||
| Never heard anyone say things you've said about historical times. | ||
| Obviously you're a genius. | ||
| What books would you recommend that explain the real history of America? | ||
| Also, I'm Mexican and have a landscape business in NW suburbs. | ||
| If you or your family need any help or mulch installed, got you. | ||
| God bless and Christ is King. | ||
| Hey, well thanks a lot man. | ||
| I appreciate the big super chat. | ||
| Books that explain the real history of America? | ||
| I don't know. | ||
| It's been a long time since I read any books. | ||
| There's some good ones out there. | ||
| There's like... | ||
| What is it? | ||
| It's called like American Folkways and Seed of Albion. | ||
| If you look up Seed of Albion, that's a good one by David Fisher. | ||
|
unidentified
|
And what is it? | |
| American Folkways? | ||
|
unidentified
|
Is that it? | |
| No, that's not it. | ||
| I'm trying to think. | ||
| I don't know. | ||
| Like, what happened recently, there's a lot of good stuff by Sam Francis, Pat Buchanan, you can't go wrong with that stuff. | ||
| Paul Godfrey's pretty good also. | ||
| Pennet's and Patriots. | ||
| Yeah, there you go. | ||
|
unidentified
|
Pennet's and Patriots. | |
| Yeah, someone says harassment architecture Listen I like Mike Ma. | ||
| I'm gonna come out and say it unpopular opinion wasn't the biggest fan of the writing But that's just me Who are we yeah, that's pretty good by Sam Huntington. | ||
| I Hey, thanks a lot, man. | ||
| I appreciate it. | ||
|
unidentified
|
Hey! | |
| Thanks a lot, man. | ||
| - Not really. - Hey! | ||
| Thanks a lot, man. | ||
| I appreciate it. - Thoughts on George Washington and other founding fathers being I'm not really into the Freemasonry conspiracy. | ||
|
unidentified
|
It's legit. | |
| It's real. | ||
| But I'm just not really into that whole thing. | ||
| That's more like the esoteric side, which I've never been too curious about, to be honest with you. | ||
| Dude. | ||
| Triz sent $10. | ||
| Ron Paul spoke a lot about Austrian economics and I became a fan of it though it was made by Jews. | ||
| Swap them with Christians. | ||
| A free market owned by US is the future. | ||
|
unidentified
|
Dude. | |
| Donald E. Rump sent $3. | ||
| SVB needs to raise capital? | ||
| Hmm, maybe that's a desperate bank that wouldn't ban you? | ||
|
unidentified
|
I don't think it works that way. | |
| Johnny Bravo sent $3.00. | ||
| Hey Nick, glad to hear that you'll start streaming daily from now on. | ||
| Can't wait to watch your streams while at work. | ||
| Love you bud. | ||
| I didn't say that, but thanks. | ||
| SmileyTheFed sent $3. | ||
| I was the very first person to meet Walt and Jesse on Friday. | ||
| Got in line at 4.30am. | ||
| Jesse called me an idiot for waiting that long and gave me a hug. | ||
| Walter bought me a bottle of tequila. | ||
| I like that you call them the names of the characters. | ||
| They're like they're real. | ||
| I saw that picture though. | ||
| That was very cool Did he really buy you tequila? | ||
| That's kind of cool. | ||
| That's a cool experience. | ||
| I Kind of want to meet him now too because now now I'm into that I was always like never watch that show so I never was like I Was very cynical about it, but now that I'm watching that's pretty good. | ||
| Oh Phil sent $5. | ||
| Good evening, everybody. | ||
| You're watching Russia First. | ||
| My name is Tsar Nicholas Fuentes, and the Kremlin has a very great show for you tonight. | ||
| Very excited to be back here tonight on Tuesday. | ||
| Okay, really? | ||
| Optics Respector sent $30. | ||
| From one renaissance man to another, I hate hobbyists. | ||
| Okay, that makes me feel a lot better he feel that way. | ||
| Thank you for the super chat, Optics. | ||
| Optics the true renaissance man. | ||
| This guy, talk about a Christian futurist. | ||
| Optics is THE Christian futurist. | ||
| Niglas sent $50. | ||
| Earn not obtuse or acute less than three. | ||
| Oh, thanks. | ||
| Max Pacheco sent $5. | ||
| Been a minute since my last Super Chat, but here it is. | ||
| Great show. | ||
| Have a great night. | ||
| Love you brother. | ||
| Christ is King. | ||
| Thank you very much, Max. | ||
| I appreciate it. | ||
| Big shout out, buddy. | ||
| Love you. | ||
|
unidentified
|
The old Max. | |
| Stimulant Growiper sent $10. | ||
| Less than $3. | ||
| Uh, you mean you're saying he's a hypocrite? | ||
| Destiny says Hess against deplatforming unless someone is trying to murder somebody. | ||
| This guy admitted on a live stream that he was incredibly close to killing a kid he had an argument with online. | ||
| Oh, you mean you're saying he's a hypocrite? | ||
| That's crazy. | ||
| Cock-a-poo-poo-gro-iper sent $3. | ||
| What lifting split did you try? | ||
| If you don't split it up right, it sucks. | ||
| You don't see immediate new... | ||
|
unidentified
|
No. | |
| Wooza sent $20. | ||
| I went snowboarding. | ||
|
unidentified
|
Oh, cool. | |
| Hey, thanks for the super chat, Wooza. | ||
| What's up? | ||
| Daftai sent $3. | ||
| Hey Nick, just wanted to say that I like your show. | ||
| Unlike many other trans women, you'd be surprised at how based I've become thanks to you. | ||
| Oh, yeah! | ||
| Okay, this is from, uh, this guy was in that panel with, um, was that Alex Stein and them back? | ||
| Oh, when was that? | ||
|
unidentified
|
That was like a year ago now. | |
| Yeah, hey, what's going on? | ||
| Well, listen, uh, you know, you really can't be that based as a trans person, but... | ||
| Hey, I appreciate it. | ||
| Glad we shifted the Overton window for you, but we know you can do it. | ||
| Let's just de-transition and then we'll be in great shape, okay? | ||
| But I appreciate it. | ||
| I'm glad you like the show. | ||
| Seriously? | ||
| I don't understand 80% of what she says. | ||
| What's she saying? | ||
| What is she speaking in an alien language? | ||
| a wife. | ||
| Seriously. | ||
| What's she saying that's so hard to understand Lamao? | ||
|
unidentified
|
I don't understand 80% of what she says. | |
| What's she saying? | ||
| What is she speaking in an alien language? | ||
|
unidentified
|
I don't understand 80% of what she says. | |
| Oh, man. | ||
| Yeah, well, what did really what's your wife saying? | ||
| That's so hard that maybe I could help. | ||
| Oh, really Wow. | ||
| So what are you an idiot? | ||
| Stupid idiot Let me help. | ||
| Let me help decode all that difficult stuff. | ||
| Like what exactly? | ||
| Honey, would you take out the trash? | ||
| So Tucker I think what she meant by that Honey, I just hate your mother-in-law. | ||
| She's just like so mean to me. | ||
| So Tucker, I think what she was going for with that one is this. | ||
| Doesn't understand 80. | ||
| That's a lot. | ||
| You only understand 20% of the things she says. | ||
|
unidentified
|
20? | |
| That's a very low percentage. | ||
| So one out of every five words. | ||
| So if she says a sentence that is five words long, you only understand one word in the whole sentence? | ||
| Take out the garbage honey. | ||
| Which one? | ||
| Four of those he didn't understand. | ||
| Chugger sent five. | ||
| Real, real genius. | ||
| Maybe he shouldn't have a show. | ||
| They sent three dollars. | ||
|
unidentified
|
He shouldn't have a show. | |
| Maybe Tucker is secretly being based and is saying all he hears are dogs barking when woman speaks so he just smiles and is like this is my dog. | ||
| Yeah, I don't think so. | ||
| I just don't really relate to Nordic people as much. | ||
| They're definitely the most beautiful race. | ||
| I think that's clear. | ||
| Everyone just takes us for granted. | ||
| It seems maybe I'm just cringe. | ||
| I love you. | ||
| I just don't really relate to Nordic people as much. | ||
| They're definitely the most beautiful race. | ||
| I think that's clear. | ||
| There is the most beautiful race and it's probably Nordic people. | ||
|
unidentified
|
They're just different. | |
| I just don't, there is like a real, like I actually do relate more to people that are like Mediterranean than people that are Nordic. | ||
| I straight up, That's just true We're just more similar like I'm a big believer in race because you just see it everywhere and No, but I like them I don't know. | ||
| We are going to have to cross that ethnic barrier to create a racial alliance, but we are not 100% similar. | ||
|
unidentified
|
That's for sure. | |
| Boo sent $3. | ||
| Please bring back Cozy Plays. | ||
| I know the user Kanye always asks about it. | ||
| I'd kid that's you. | ||
| Probably not, but I liked Cozy Plays. | ||
| I wanted them to do Pokemon Emerald version, but they just disappeared. | ||
| I forgot about that. | ||
| Yeah, maybe we'll bring it back. | ||
| Low IQ sent $3. | ||
| People wigging out and telling trannies to 41% is just the mirror to wiggins who overuse the N-word. | ||
| That said, Italian and trans, the body hair must be a mess. | ||
| Okay, gross. | ||
| Yeah, listen, I'm, like I said, we're not in favor of cruelty or hatred or anything, but we're just not down with that stuff. | ||
| That stuff is immoral, it shouldn't be. | ||
| We're not out there telling people to kill themselves, just like I wouldn't tell a feminist to kill herself, or I wouldn't tell a criminal to kill themselves, or anybody for that matter. | ||
| We want people to heal. | ||
| Everybody has to heal. | ||
| Nobody's perfect. | ||
| Trannies are farther from perfect than other people. | ||
| But we want people to heal. | ||
| So, you know, the very antagonistic cruel, the casual cruelty, this, you know, kill yourself, we're gonna kill you, that kind of thing. | ||
| Go into a drag story hour and scream and faggot and kill yourself. | ||
| That's just the wrong vibe. | ||
| It's the wrong energy. | ||
| That's not what we're about, you know. | ||
| we think that stuff is unacceptable and has no should have no quarter in a decent society but but that that sort of thing is just not the path that's not the way to get there so it's one thing to say it online as a joke whatever but You know, but that kind of thing is just wrong. | ||
| We want to attract people with our magnanimity. | ||
| We want to be magnanimous. | ||
| We want to be great. | ||
| We want to draw people in because we're representatives of God. | ||
| We're representatives of the real truth. | ||
| We're not ideological but the real ideas that are going to make people well. | ||
| And so we should act like that. | ||
| We have gold, okay? | ||
| We're sitting on gold. | ||
| Why would we be so angry, desperate, all those kinds of things when we're sitting on a pile of gold? | ||
| We have the winning message. | ||
| We have the right and the truthful message. | ||
| Where is the need for this pettiness, vitriol, resentment, anger? | ||
| I don't have any of that. | ||
| So, now it's one thing to be self-righteous, set in justice, or things like this, but when I see these kinds of people, I feel... I'm not gonna lie, there is a disgust aspect of it, like when I see this Dylan Mulvaney type stuff. | ||
| It's just perverse. | ||
| It's not good. | ||
| It's very unnatural. | ||
| It's very repugnant. | ||
| But you want to see these people get better, you know, it's it's only because It's such a sad and degraded existence and they're promulgating that to people they're promulgating that especially young people so That's my view on it Boo sent $3 I wish that you could make your own version of Christianity called like Nick Fuentes Christianity where you make the rules and Beardson and Vita and stuff are like high priests and command the army No, that's wrong. | ||
| That's idolatry. | ||
| We're not about that. | ||
| Was that good? | ||
| Millennial Maimonides? | ||
| sent $3. | ||
| I liked the Maimonides post. | ||
| Was that good? | ||
| Millennial Maimonides? | ||
| Yeah. | ||
| That guy, so classic, by the way, like, oh, he's a big muscle head, international, intellectual, Hellenic vibes, and he loves Jews. | ||
| Hellenic vibes. | ||
| Oh, I love Jews, by the way. | ||
| Okay, Jewish vibes more like freaking Israel vibes. | ||
| Hellenic vibes. | ||
| Hellenic vibes. | ||
| You're a Jew. | ||
| You're a Jew, okay? | ||
| You are a Zionist Jew. | ||
| Hellenic vibes. | ||
| Yeah, my ass. | ||
| Hellenic vibes. | ||
| Hellenic. | ||
| Very loose. | ||
| Very loose. | ||
| The geography's very loose on that one. | ||
| I don't know how far Hellenism goes. | ||
| Does it go to Jerusalem? | ||
| Modern day Jerusalem? | ||
|
unidentified
|
Maybe. | |
| I think so. | ||
| I think that's a big reason for it. | ||
| lifting 400 pounds to save the wit race gets robbed at gunpoint stabbed and his girlfriend groped and pisses his pants maybe lifting is just a coke to compensate for mediocrity wagey cattleman talent i think that's a big reason for it feelings of powerlessness patman 0074 cent ten dollars are you excited for world peace too will it live up to the hype yeah i am excited for it and i don't know it's always a struggle living in the shadow of your former accomplishments but we'll see | ||
| i'm with charles back on board i have high hopes for it the three of them is it's great synergy so we'll see all right Alright, let me take a look. | ||
| We got a big Super Chat on Cozy from Richard Cranium. | ||
| Thank you very much. | ||
| He says, I don't take financial advice from people with less money than me. | ||
| I listen to Nick and Ye. | ||
| I'm not giving financial advice, okay? | ||
| But I appreciate it. | ||
| Thanks for the big Super Chat. | ||
| Protestant Gruyper says, how does it feel to know that we are stuck in an unnatural time for the foreseeable future? | ||
| Also, yes, I know Russia has been in daylight saving time since 2014. | ||
| Fall time is natural time. | ||
| Darker sooner equals CAC. | ||
| Listen, I don't have a hot take on daylight savings time, but thanks. | ||
| Yeah, I'm all messed up by this daylight savings time. | ||
|
unidentified
|
I woke up at 10 o'clock. | |
| I Woke up at 9 p.m. | ||
| Could you believe it? | ||
| It's daylight savings times got me fucked up You know every year they flip the clock back and forward an hour. | ||
| I'm waking up at 9 o'clock at night Daylight savings time. | ||
| Can you believe it? | ||
| It's crazy. | ||
| All right. | ||
| Okay. | ||
| That's our last Super Chat. | ||
| That's gonna do it for me. | ||
| Thanks for watching. | ||
| Remember to follow me here on Cozy. | ||
| Smash the follow button to get a push notification whenever I go live. | ||
| Follow me on Gab Telegram, True Social, Rumble. | ||
| Link should down below. | ||
| I'm on the air Monday through Friday, 9 o'clock Central, 10 o'clock Eastern Time. | ||
| As always, thanks for watching. | ||
| Thanks to our Super Chatters. | ||
| In particular, Braulio, Ari, And Cranium. | ||
| Big thanks to them. | ||
| Thanks to all our Super Chatters. | ||
| Everybody that watches, we love you. | ||
| And I'll see you tomorrow. |
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