FaceTime or Ask Patrick any questions on https://minnect.com/
Patrick Bet-David Podcast Episode 106. In this episode Patrick Bet-David is joined by Adam Sosnick, Gerard Michaels and E.B. Tucker.
Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N
Text: PODCAST to 310.340.1132 to get added to the distribution list
About guests:
EB Tucker is best known for his gold market commentary (and accurate price calls), but like many others he also has an interest in the growing green energy space.
Gerard Michaels is an award-winning Writer, Director, Actor, Podcaster and Comedian with over 40 million views online. Follow him on Instagram here: https://bit.ly/3fMja9z
Adam “Sos” Sosnick has lived a true rags to riches story. He hasn’t always been an authority on money. Follow Adam on Instagram: https://bit.ly/2PqllTj. You can also check out his weekly SOSCAST here: https://youtube.com/playlist?list=PLw4s_zB_R7I0VW88nOW4PJkyREjT7rJic
The Bet-David Podcast discusses current events, trending topics, and politics as they relate to life and business. Stay tuned for new episodes and guest appearances.
Connect with Patrick on social media: https://linktr.ee/patrickbetdavid
About the host:
Patrick Bet-David is the founder and CEO of a financial services firm and the creator of Valuetainment, the #1 YouTube channel for entrepreneurship with more than 3 million subscribers. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a keynote speaker.
Bet-David is passionate about shaping the next generation of leaders by teaching the fundamentals of entrepreneurship and personal development while inspiring people to break free from limiting beliefs to achieve their dreams.
Follow the guests in this episode:
Gerard Michaels: https://bit.ly/3fMja9z
Adam Sosnick: https://bit.ly/2PqllTj
To reach the Valuetainment team you can email: info@valuetainment.com
Want Patrick on your podcast? - http://bit.ly/329MMGB
#PBDPodcast
0:00 - Start
3:52 - E.B. Tucker Background
7:28 - Fed Coin/Charlie Munger on crypto
18:19 - Bitcoin Vs Gold
27:42 - The Doomsday Question
39:20 - Playing the opposite
48:21 - Hedging against inflation
53:26 - Metaverse
1:01:56 - Billionaires Starting Their Own Country
1:08:09 - Are We Losing The Human Experience
1:19:37 - The Bad Guys Are Winning
1:35:51 - Trump The Comedian
1:44:00 - Mafia States of America Reviews
Today, our guest is E.B. Tucker, an expert on gold.
He wrote a book called Why Gold?
Why Now? The War Against Your Wealth and How to Win It.
He's got a bunch of props here.
I bought a few props myself as well for us to talk about.
I'm going to ask him a question in regards to what's a better investment.
Baseball cards, collectible cards.
I just recently saw Aaron Rodgers stood up against the NFL.
I liked it so much.
I want to bought his best card.
Okay, there's only 25 of these in the world.
I got one of them.
It's a PSA 10.
It's a good $25,000, $30,000 card.
And I'm banking on him doing well for himself.
So we'll talk about collectible cards and then we'll talk about gold.
Is gold really worth it?
Oh, you see that?
That's three cows of gold right there.
Wait, wait, wait.
That football card of Aaron Rodgers in a practice jersey is worth 30 grand?
This is 30 grand.
Feel this.
Yeah, that's good.
That is heavy as hell.
And then we got crypto as well.
Bitcoin.
You got some opinions about crypto and Bitcoin as well.
It's a real thing.
I mean, I call it the national sweepstakes.
National sweepstakes.
It's like Willy Wonka.
I mean, everybody knows somebody that their friend's coin they have went up to a penny from a tenth of a penny, and they hope they're next.
You notice everyone's distracted by this.
It's a national distraction.
So you think it's a national distraction?
It is.
It's like a sweepstakes.
I mean, I know guys that run plumbing business, all these things, and they're looking at their phone 100 times a day.
Is Pizza Coin going to go to a penny?
I mean, my friend's coin went to a penny.
Maybe it'll go.
You see how this is, everybody's enamored with this.
Well, Ebi, I mean, it's good that you don't have strong opinions against Bitcoin.
The fact that you're very diplomatic.
We like that.
We welcome that here.
And we're going to get deeper into it, folks.
We got a lot of topics.
Trump had some things to say about General Milley.
Some clips came out with him calling him a, what did he call him?
He called him.
Guy, good guy.
Adam, can you tell everybody what he calls General Milley?
I don't curse, so I would never, ever repeat what Donald J. Trump had to say about the Trump.
Donald J. Trump is a saint.
He's never done anything wrong.
By the way, yesterday you had a moment.
You had a moment yesterday in the office where you said you agree with Trump on what he said to me.
Someone makes sense.
I'm going to let them know that they make sense.
Listen, I like the fact that you're starting to reason.
It's a very good sign.
I'm not going to ask you a lot of questions, Mr. PPD.
I'm not going to ask you a lot of questions today to give you too much pressure.
Reason would be anyway.
He called him an F an idiot.
So we'll talk about that.
Okay, Cuomo, he had a rough weekend.
The other Cuomo, Tennis Association, cancels a billion dollar worth of matches in China over missing players.
Peng Shui.
And then at the same time, we got updates for you with Mafia States America with thousands of people.
Yesterday, at the middle of the night, I logged on.
There's a thousand people on the website watching Mafia States America, binge-watching.
Some major names in Hollywood.
I didn't even tell you yesterday, texted me to watch this whole thing.
They're giving me feedback.
One guy's a billionaire in Hollywood.
I'll feel you in about this afterwards.
They're pretty sick, pretty sick on what they're thinking about.
Also, and because of Mafia States America, all three Cuomos had a rough weekend when the world ruled out about Papa Mario.
Yeah, Mario, that's right.
So, and then AOC and Mansion, both on the same sites, but disagree immensely on what's going on right now with the economy and theft.
And then we got a bunch of things to talk about with coins, Bitcoins, gold.
And then this one story, the bad guys are winning.
Okay, which you really want to get into.
We will.
And one of the things I added here that I want to talk about is with China threatening U.S. over expected diplomatic Olympic boycott.
China will take firm countermeasures.
What that means, we don't know yet.
But having said that, let's get right into it.
Ebi, for folks who don't know, take 30 seconds or a minute.
Tell us your background.
Well, I put together kind of a career in the gold business almost by accident.
I mean, when I discovered gold 20 years ago or so, I was immediately fascinated.
I mean, you pick up one of these coins and wait a minute, why is it so heavy?
Like you guys were saying, the bar.
So check this out.
Yeah, that was actually the wealthiest I've ever been in my life holding that bar in my hand.
This is a strange thing.
And then you realize that this comes out of the earth.
I mean, it takes two or three thousand pounds of dirt to process to make this one coin.
Two or three thousand pounds of cold.
Yeah, I mean, a ton of gold will give you like three grams, or a ton of dirt will give you like three grams of gold.
And so when I saw that, I mean, I was fascinated.
And then your company finds gold and the stock goes up, you know, 10 times.
And that caught my attention.
And I said, I got to figure out how all this is.
What do you mean?
Company finds gold and then the stocks.
Yeah, like say they say they're looking for gold.
Okay.
So they're looking for gold and they go out and they find it and they say, we found a gold mine and their stock goes crazy and you get kind of gold fever.
You know, there's shows, you watch Deadwood or some show about this.
It's real, you know.
And so I figured that out and then I got into that business and then I realized that that's a bad business because most people don't find gold, you know, just like most people's crypto coin doesn't go up.
And so anyway, so I discovered the royalty business and that's what the book is really about, the war against your wealth and how to win it.
You know, we are in a war against our efforts to build wealth.
You know, we're under attack and you guys know that.
And so I discovered the royalty business where all my money is.
And so we've created these long-term royalties on various different types of assets.
And it's a business I'm enthusiastic about.
So I wrote the whole book so that everyone can understand that.
And so we look to take a royalty on the gold output from a mine, which is very different.
You don't pay for any, you can have strikes, you can have floods, all these things happen.
We don't pay for any of that.
It's just a carried interest in the mine.
So that's how my career kind of evolved.
And here we are today with outright craziness in the world, right?
Yeah, that we want to get into that crazy part.
Who would have predicted all these things 20 years ago?
How do we know this is real?
How do we know when you hold a gold coin like that?
How do you know it's real?
How do you know it's fake?
So the best way to do that.
I like coins because they're very hard to fake.
So nobody's going to really put in the time and the effort.
You put one coin on your finger and you kind of hit it together.
You can hear this sound.
It's a very unique sound that it makes.
It's called the ping test.
If you go into a pawn shop, the first thing they'll do is they'll ping the coins together and they'll listen for that unique sound.
Problem with the bars is that a couple of years ago, the Chinese were putting tungsten cores in the bars.
So it has a similar weight to gold.
And then they were putting gold in the outside.
It's like that goes all the way back to the Roman Empire when they tried to go.
Exactly gold.
Exactly right.
So are you saying the Chinese can't be trusted when it comes to that?
Well, but they can be.
They can be because the Chinese are very intense about gold.
So the Chinese, they don't let any gold leave the country.
They're the biggest producer in the world of gold.
But they don't let any gold that they produce leave the country.
Why is that?
What's their argument being?
They want it in country.
They want gold.
So whereas Americans, they produce gold in Nevada and just leaves the country.
The Chinese are like, no, Why, though?
Why do they want it?
They see it as real wealth.
They see it as real wealth.
So obviously, listen, we got a lot of things to go through here with coins, crypto, collectible cards.
But in regards to what's been happening lately, you got a lot of people like Charlie Munger wasn't too happy about crypto.
You heard the comments that he made about it.
Matter of fact, I'll read it to you guys to see what he had to say about crypto.
First time agreeing with what China is doing, Charlie Munger, who's a partner of Warren Buffett, he's a billionaire, goes off on crypto, says China made the right decision when they banned it.
This is a fortune story.
For all the recent buzz surrounding crypto investment, Charlie Munger is just not buying it.
And he doesn't want any crypto traders marrying into his family either.
Believe me, the people who are getting into cryptocurrency are not thinking about the customer.
They're thinking about themselves.
Just look at them.
I wouldn't want any of them to marry into my family.
also said that he supports China's crack crackdown on cryptocurrency and frowned upon the U.S.'s heavy involvement with it.
The Chinese made the correct decision, which is just simply banned them and he slammed Bitcoin specifically.
Of course, I hate the Bitcoin success.
I don't welcome a currency that's so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of dollars to somebody who just invented a new financial product out of thin air.
So obviously you agree with Charlie, but if you want to go a little bit deeper into what he says, the old man yells at this.
It's not totally fair to say I agree with him, but I think his comments are important because remember, in my book, I have a whole section on how crypto came to be.
Okay, so it's very important that people realize, I mean, back when Bitcoin was a dollar, I knew about it.
So what you have to understand is the value of the coin and the platform are mutually exclusive.
And what that means is, is that the platform is very important to understand.
Blockchain technology is how you will transact all business in the future.
Like you buy a piece of property right now, you have a title agent, you have doc stamps, you have a little lady that's pressing a thing down into the county.
It was never meant to be a speculative currency.
Exactly.
So when people talk about investing in crypto, they're not investing.
They're speculating that the value of the coin is going to go up and they're going to sell it to somebody else who's going to want the coin.
There's like 10,000 coins.
I mean, you go on CoinGecko or whatever the site is, 10,000 coins.
Okay, these are useless, utterly useless.
What percentage are you?
A high, high percentage.
A high percentage.
What a percentage.
90%?
I would say if you really want to own crypto, you own Ethereum first, you own a little bit of Bitcoin, and you leave the rest alone.
None of it.
Because did I make the Ethereum argument last week?
I want to see why he's going to say that.
Because you take, okay, a smart contract, like with your house, you have title insurance.
What is title insurance?
It says that if there's a problem with the title later, that they'll ensure that you actually bought the title and whatever.
That's all solved by blockchain.
So the smart contracts are talking about?
There's a zero value for title insurance 10 years from now.
The currency is the contract, too.
It's like when Pat was buying his house and it was a three-day process for him to sign a deal, that's now just the coin.
That's right.
What should Gerard do with all his Dogecoin, though?
Well, that's a, that's it.
Yeah, I mean, which coin will make it?
I mean, who knows, right?
Because remember, Musk comes out and makes Dogecoin a thing.
And now it's not a thing all they have.
Now it's not a thing.
It's gone.
He said it was a, not a scam, but it was a, what did he say on SNL?
Look, that's like stock promotion.
I mean, imagine if somebody...
It's weird, right?
It's weird.
You come out and you're like, you know, what if my company's Metalla, Taylor MTA?
If I was like, you know, Metallos, if I started saying all these things about how it's going to go to the moon, right?
The SEC shuts me down.
I can't be on a board.
I can't say anything.
Unless you're in Congress, then it's fine.
Well, yeah, this is very popular.
By the way, this is a very good point here.
This is a very good point he's making.
You can't go claim that your stock or an investment is going to go to the moon, but you can with crypto.
Yeah.
And a lot of people do that.
That's right.
Think about if The Rock came out tomorrow and was like, Shibo, you know, to the moon and he owns a million Shibos and it goes up one decimal point.
He's a deca billionaire.
This goes back to the Joseph Kennedy model back in the days when he made the stock market to crash and FDR brought him in because he knew all the ways of manipulating the stock market and then they added controls to it.
So the challenge with the crypto community that they come back and they say, well, the government cannot touch it.
They've already been trying to touch it.
And then I get some of the private equity guys that say, let me tell you what people are doing in private equity right now because the tax code with crypto.
You can buy, take a loss, buy again.
You can do double tax write-offs over and over.
They're not going to let that last too long of a time.
Why, though, isn't that the beauty of the market?
Like, school costs money, man.
If you get caught in a pump and dump, you get caught once.
Okay, it happens.
If you get caught twice, it's on you.
I'm not disappointed.
But what I'm trying to say to you is you really believe an Elizabeth Warren, an AOC, a Bernie Sanders, a Nancy Pelosi is going to allow that to happen?
You think they're going to let that happen constantly?
You don't think these guys are eventually going to want to over-regulate the crypto community?
Of course I do.
But right now, they're trying now and they can't figure it out.
They're getting you used to this.
So everybody has accepted the fact that they can have a wallet, they can have digital money, all their money can be on the grid.
All these people that talk about cryptos off the grid, they're completely wrong.
Like the kid in Orlando that was hacking people's Twitters, remember, and taking Bitcoin.
They caught him.
They showed up at his house.
How did they do that?
They found him like very quickly.
Very quickly.
And he had sent the Bitcoin all over the world to be split and washed.
This is on the grid.
Anybody who thinks they're off the grid just needs to research this.
Why?
Because they're on platforms like Coinbase or Gemini.
The blockchain is infinitely traceable and controllable.
And where this all ends.
Which is the point of the blockchain.
Correct.
Where this all ends is Fedcoin.
And in the book, this is a term that I came up with about six years ago.
Fed coin is what we'll use to pay for everything, and it'll be easy to get people to accept it.
And what I think, this is somewhat controversial, but I think all these stable coins ultimately are going to crash, and then Fedcoin will be what they bring, like the Phoenix they bring out of this.
I'm saying like the Tether, the U.S. Tribune.
You think those are going to crash and that it's all just in your mind?
And I think it might be pre-designed crash, where basically they say, okay, everyone's into this now, all right?
But as you can see, there was some speculative problems like the private market.
So the Fed will control this.
Wait, wait, wait.
Do you think some shadowy international pseudo-government would organize some sort of doomsday event to increase that control?
Never.
But imagine if we are the elite, okay?
So we say right now, okay, we would let people be free, but nonsense.
Because what happens when you get to that level is you try to consolidate power all the time.
You're worried about threats.
And so look at Fedcoin.
I can control everything you do.
Taxation, you can no longer avoid being taxed because all of your money is on the blockchain.
So they're going to nationalize crypto, is what you're saying.
In other words, they'll pick a crypto winner that's infinitely, you know, the blockchain is distributed ledger.
That's the technology.
But when you have Fedcoin, it's controlled ledger.
So MIT makes one server that controls the entire Fed coin ecosystem on a quantum computer.
And every single Fed coin is documented.
And you've been really naughty.
So no more leisure activities with your social engineering.
Social stuff.
So let me ask you.
So let's just say we go in that direction.
Who wins, who loses?
Well, I think people that are close to power win.
What we're transitioning to is a command economy.
So this is what China has.
And I think the U.S. is envious of China because China's control is so great.
Command economy.
Yeah, a command economy.
So in a command economy, where you want to be is you want to be- As opposed to a market economy?
Is that the idea?
That's long gone.
So in a market economy, there's price discovery.
And what happens is that price discovery creates the value of everything, and the market produces different solutions to solve different problems.
We left that behind a long time ago.
Right now, command economy is controlled by fiat.
It's controlled by committee.
And if you look at how things are going in the U.S., the narrative comes out, the news story narrative comes out, the policy is set, and then people like us say, we debate about these things, but it's pointless.
Is this like a communism rebrand?
A command economy?
You just describe communism.
It's trying to be communism with the idea of free market principles.
Because if you look in America, everybody's like, oh, this is a free market.
Is it really a free market?
I mean, oh, we can vote here.
It's really, this is great because we choose our elected leaders.
Do we really choose our elected leaders?
At every turn, all the things people say, if you really question them, they're falling apart.
I'm sensing a threat here similar to Peter's shift.
So, are you saying we stopped being a market economy, free enterprise where you can go out there and do everything when it was based on a gold standard?
And now it's a command economy because it's based on fiat.
Are you going to the 1972?
No.
Is that kind of where you're going with?
No, no.
And Peter's a friend.
I mean, he's our biggest shareholder in our company.
You know, he's really a trip to hang out with because he has a different take on this than I have.
I mean, so I don't think the gold standard really matters that much.
I mean, the government has nuclear-powered aircraft carrier battle groups, and they tell you this is the dollar.
And okay, it's the dollar.
I call it the lead standard.
Yeah, we're on the lead standard.
Yeah, exactly.
That's what we're gonna do.
And we're gonna use Fed coin.
They're gonna do the same thing.
You're gonna say, you use Fed coin or you starve.
I mean, that's the deal.
You know, like you're gonna do it.
So, what happens to the actual U.S. dollar if this Fed coin comes into existence?
I don't think it matters.
I mean, I think what we see is like interest rates started falling at the turn of the century.
Like, they're negative right now.
They're gonna keep going down.
Everybody's like, oh, they're gonna go up.
The government's gonna have a hard time financing itself.
No, it's not gonna happen.
It's not gonna happen.
The deal is you can control this.
This is a controlled demolition.
And so this system will continue going down.
The average person right now, 1% in the savings account, 10% inflation, they're losing 9% per year.
Oh, man.
We got some.
Come on.
I'm curious here.
Yeah, I'm curious about what he's saying.
It's reconnecting.
We're on.
Okay.
All right.
Let us know if you're on or not.
The entire building, folks, went down.
So are we live?
Can somebody tell us if you can hear us or not?
Give it a thumbs up.
If you can't hear us, smash that thumbs button.
If you can.
How much money's on the table right now?
Well, these are 1,000 grams is maybe 30 ounces, 32 ounces.
Is this an ounce?
That's more than an ounce.
I like these an ounce is 2 grand right now?
The Mexican 1800.
What is that what it is?
1800, 1780.
We're back on.
We're back on.
Okay, folks, we don't know what's going on here with this going live.
The whole building came down.
They don't want this album to come out.
Well, we'll see.
I mean, I don't know if this can.
Gerard's saying this may be China, this may be the Fed, this may be the whoever it is.
We're going to go back to the bottom.
Okay, let me ask you a question that I think the market is wondering right now.
Let's see what your opinion is going to be on this.
So the question becomes: gold versus Bitcoin.
Gold folks are screaming off the top of their lungs.
Let me tell you shit about gold and inflation's coming and gold prices are going to go up and nothing happened.
It went lower, right?
So this article here by Bloomberg says gold or Bitcoin?
Store of value debate rages as Bitcoin grows.
The gold camp cites the metal's long history versus Bitcoin's instability and lack of regulatory support.
Grayscale and Bitcoin backers say the cryptocurrency has digital gold with superior efficiency and potential.
Gold has better application in some cases and Bitcoin in others.
Bitcoin is more transportable and divisible and more applicable as a currency, but gold is more stable with a proven track record.
Both offer virtually no correlation to traditional asset classes with gold's correlation is at zero and still Bitcoin is currently most aptly characterized as a speculative asset.
Gold and Bitcoin have different long-term tax U.S. tax rates for short-term capital gains on investment bought and sold within a year.
Both are taxed at the individual income tax rate.
Bitcoin is taxed in the same way as stock.
Ownership with a long-term capital gains tax rate of 0 to 20%, depending on income levels.
Gold is taxed as a collectible and therefore carries a long-term rate of 28%.
So that's a big difference right there, irrespective of an investor's income.
So what is your biggest, what would you say is why someone should own some gold versus crypto?
So I have a Bloomberg terminal.
I have probably more information than any person.
How much is it Bloom?
So people don't know what that means.
$39,000.
$30,000 a year.
$30,000 a year.
So plus, you know, I've got access to, I probably read about 3,000 pages of hedge fund research a year.
I know all these people, what I want people to do when they read a news story is realize that the story is written to distract you with details and to confuse you while pushing a narrative, okay?
So when you read stories, when you get to a level where you've been doing this 20 years, you read millions of pages of paper, all you're doing is saying, what's the narrative?
What's the narrative?
Okay.
And then what do I need to do to get around the narrative?
So the narrative is, is that gold is dumb and Bitcoin is smart.
Okay.
So there's a big push where we want you in crypto.
So there's always this support of you don't want this.
You want the crypto.
So we want you in crypto.
We know where your money is.
The thing about this is, is that nobody knows that this is here.
I can melt this down.
I can make a belt buckle out of it or a bracelet or something like that, walk across a border and turn it back into a coin.
And I have not lost one atom of gold.
Not one molecule of gold has been lost in that process.
This is infinitely fungible.
And people have used this for years to store as a store of wealth.
It's not an investment.
Gold is not an investment.
It doesn't go up in value.
It represents other things that go down in value.
There's a finite amount of this in the world.
Now, go back to 2000.
Gold's $250, $275.
It's gone to 2080.
If you look at a chart, it's performed very, very well.
In fact, it's beaten stocks if you go back to 2000, to the first of the year 2000, but it's deceptive because we were in a crazy time for stocks right then.
But gold has held up great.
And so it's bought you about the same amount of equity over that time.
And so everybody's hooked on speculation right now, but it's not about speculation.
My book is not about buy some coins and make a fortune.
It's about it's a war against your wealth.
So wealth and speculating are different.
And so when you get down to it, you realize all these arguments that are made in the press about Bitcoin, people say, well, you know, there's a finite amount.
It's limited to 21 million.
It's all this stuff.
You can put it on a thumb drive, whatever.
Somebody might steal it.
Okay, so you got to be careful about that, which exchange you're going to have.
You get down to it.
This is wealth.
And everybody that has serious money knows it.
All the elites of the world know it.
The Chinese know it.
Why do you think they won't let you export it?
The Russians know it.
Everybody knows it.
Yeah, but the governments who bank into gold, they're not looking at making 28% or 12% or 8% a year.
They're looking at making 2%, 3, 4% per year.
They're not aggressively investing in, you know, that's when you have treasury bonds, which is going to give you what, pretty much nothing over a 30-year period.
Yeah, negative investment.
Yeah, that's right.
I can see why governments would be interested in some like this, but the average investor, why would the app, you're talking to a guy that these are mine and I have some more as well.
I'm just telling you, I've brought a few things to show you.
So you're not talking to a person that doesn't hold gold or currencies or crypto.
I'm a believer.
I'm open.
But why should someone buy it if it's just a currency?
So everybody that's listening to this show wants to learn.
That's why they're listening to this show is they're seeking, these are people with drive, okay?
And you're the same way.
And so what you know is that you only have to get rich once in life.
Once you get rich, then you have to stay rich.
It's a very different type of thinking.
You're not speculating.
You get to a certain level.
You're not like, what can I speculate on?
Maybe with a little bit, right?
But you also are playing defense.
And so once you've listened to shows like this, you've learned, you've educated yourself, you've hustled, you've paid all this tax, you've done all these things.
What are you going to do?
What are you going to do?
This is the war against your wealth.
And so when you get into that mindset, you realize I need some wealth in something that's safe, something that has defense, that plays defense.
Now, my company, Metallo Royalty, that's different because if gold goes up $100, the value of 30 years of gold production goes up dramatically.
I mean, it's highly, highly leveraged to the price of gold.
So if I have a mine that's going to produce 100,000 ounces a year for 30 years and I get 1% of that, if you look at the out years and the 1% is worth $100 more per ounce, the value of that pulled back into today is gigantic.
I mean, imagine if you bought an apartment and it gets $1,000 a month and that is going to go up by $50 a year.
What's that worth 30 years from now?
I mean, the number is humongous.
And so that's different from owning a physical coin.
Okay, so then one thing I would say in regards to this is I think the gold community, let's just throw Peter out there because he's one of the loudest ones when it comes down to gold and he sells gold and he's all about gold and he ought to own gold, all this stuff.
I think it is a mistake to compete directly with crypto.
I think it's a big mistake if from the purely from a marketing standpoint, I think it's a massive mistake because the angle you just took, I came to you like this, you went this way.
You didn't even fight me for it.
You just said, listen, you're not buying this because of this.
I remember one time I sat down with the Moody family.
I don't know if you know the Moody family.
They're a billionaire family out of Houston.
I think they're out of Galveston.
And I went and sat down.
The family that does the ratings?
No, the Moody, like National Western, like American, and all these insurance companies.
And they're very well off.
They own a bunch of banks.
If you go to Texas, you see Moody's Bank everywhere.
So I pitched him an idea.
We sat down.
We went for a couple hours.
I said, here's what I think we ought to do to get a partnership.
This is 12 years ago.
And he said to me, you know, Patrick, there's two different types of people.
I said, what's that?
He says, there's guys that wake up every morning wanting to make their first billion.
And then there's guys that are billionaires trying to keep their billion.
I'm the second guy.
You're the first guy.
I'm not doing a deal.
My family's counting on me to keep our money.
I'm not trying to make another billion dollars.
I'm trying to keep our family wealth.
What you're saying is that's gold.
That's defensive strategy.
Nobody should buy this saying, imagine if this $60,000 bar is one day a million dollars.
That's the crypto sale.
I think you're buying this similar to a sale of life insurance.
God forbid, just in case something were to happen, you want to hedge yourself against a massive risk.
Right.
Right?
I think that's the same thing.
You could turn it back into new money later.
I mean, that was the whole, like you look at other historical societies where people walked across a border and this was what got them something to eat.
It's a different society we're living in, though.
Well, in some ways it is.
In some ways it's not, right?
Do you think Meta's the future?
In some ways, no, I don't think so.
I think this is the type of thing you hope you don't need it.
You hope that your wealth continues to grow.
You continue to speculate.
All these things happen.
You hope you don't need this.
But what I'm saying in my book is like if you think about how much of this you should have, it's a much lower number than you think.
I mean, 2% or 3% of your wealth is probably sufficient.
So is that the number that you're encouraging people to?
Yeah, I mean, you want to be careful because I don't give direct advice in there, but I give people a formula that I make, you know.
And the number I come up with is 2% or 3% is plenty.
I mean, you know, I have of your entire network.
Yeah.
You're a millionaire.
You should have 20, 30, 30 grand.
That's how much you should put into getting gold.
It's a lot.
It's a lot.
I mean, because what does this do right here?
It does nothing except it protects that money.
So if you go, if you go and you turn that back into money in the future, it gives you about the same buying value.
Let me ask you this.
Hang on, go ahead, George.
Let me ask you the doomsday question, all right?
And this is the doomsday question.
This is not every day.
So, the idea to hedge gold against an apocalyptic event where the economy crashes and the country becomes insolvent, and now you still have some sort of fungible asset to go ahead and buy medicine, buy food.
Why not just get a gun instead?
Okay, but this is the thing I think people need to understand as they read the book: it's already crashing.
So, you have a system, it's called capitalist system.
That means that it's based on capital has the value.
We're really not capitalists.
Exactly, it's corporatist at best.
Capital right now has no value.
There's immense amounts of capital.
Okay, look at the life insurance business.
Like, it's not the same business it was 50 years ago because you can't get a return on capital.
It completely makes that business turn it on its head, right?
Because you have negative real rates of return, and people don't understand that.
Like, I tried to explain it in the book.
I'm like, look, you're getting 1%.
Go to the grocery store.
It's 10% more expensive than last year.
No, no, it's not.
Inflation is only 6%.
Exactly.
It's whatever they say it is, right?
And so, and so what people are going to realize in a few years is that the crash has already happened.
A sideways crash is the same as a down crash.
And you're in this sideways crash now.
Can you Google priceofold kilo?
Type in price of gold kilo and go to the second link.
That's goldprice.org.
Yeah, go to gold.
Let's see.
Go to the second one right there.
60 grand.
Yep.
And then click on when it comes up, go down and go to 20 years when you go to the site.
This is 180 grand on the table.
So, so the thing that's a good time to make a run for it.
That's kind of dope.
Caroline left.
I wish I had better cardio.
Go up and take the three days and make that three days.
Go down, go down, go down right below the chart to right in the middle of the black one where it says three days.
Go a little lower.
It says three days.
Right there, it says three days.
To the right.
Oh, my God.
Kai, buddy, come on.
Tyler, it says three days right here.
30 days?
Three days.
Right here.
It says three days.
Go to 20 years.
Go to 20 years.
You know, Pat ain't happy when he stands up and points.
This is the first time I see it.
Hello, even for Kai.
So man, you say God, Pat.
Pat's been going to a personal trainer.
Pat's looking good these days.
He's about to show off.
All right.
So that's about what's happened, the opposite of what's happened to your money.
Now, Pat, let's, real quick, real quick.
Sure.
This is a $20 bill, okay?
And this was exchangeable for one ounce of gold.
Like, if you look at this.
What year was this?
I had to pay about $400 for that.
For this.
Yeah.
So, so that and this $1 bill was exchangeable for an ounce of silver.
Okay.
And so.
This is for how much of gold?
One ounce.
So that would give you this.
Okay.
The bank would exchange it for you.
That was the law.
What year?
It says 1957.
Pretty epic point he's about to make about this.
All right, ready.
So this one ounce of gold.
Okay.
This ounce of gold has not changed.
It came from Nevada.
This is a U.S. Eagle, so it has to all come from the U.S.
So this is a one-ounce piece of gold.
One ounce is one ounce.
Always, it has not changed.
Now, today, I'm going to show you what it takes to buy an ounce of gold.
Okay.
We might have to make some more room on the table because the ounce of gold has not changed at all since the 20s.
And the amount of cash that it takes to buy the ounce of gold continues to grow.
And the reason why I think this relates to your chart there is that people need to ask themselves, what's the trajectory of that chart?
These are all singles?
This is singles.
It's a great point he's making.
We got on some of what he just did.
It's important to do it with singles because that's how you priced right here.
I mean, it's in dollars.
This is our currency.
So singles are important.
I mean, if I just brought, you know, $20, $100 bills here, I mean, that's, you know, we say dollars.
We don't price things in hundreds of dollars.
You know, we say dollars.
And this pile is going to continue to grow.
I mean, why would it not?
Why would it not?
We're in a debt-based system.
So why would it not continue to grow?
Powerful point you just made right there.
Did you see what just happened right there?
So this $1 would buy you a silver coin.
Okay, this $1 back in 1934.
It says 1934.
This would buy you a silver coin.
So how much is a silver coin?
23.
So 23 bucks from 30.
So here's what's great is that with silver, that's a whole different ballgame because you've got to pay a significant premium to get the coin.
Like you've got to pay another $6 or $7 to get the silver coin.
That's what's so bizarre, right?
They're like, silver's 22, but yeah, the coin's 30.
Why would Buffett put $35 million in silver?
That was in the 90s.
That's complicated.
You know, that was with Fibro.
Yeah, I mean, he saw this and he tried to corner and then he had to come off that.
Yeah, I saw that.
So this right here, 20 bucks in 1922 to buy a coin of gold, right?
An ounce of gold.
Same ounce.
How much is an ounce of gold?
Same ounce, 1,800.
So that's 90x since 1922.
Yeah, same coin.
Coin hasn't changed at all.
To give you an idea what this 90x means, 1922, that's exactly 100 euros in about a couple weeks, right?
So let's go 100 years.
That means by 2122, that coin right there that's worth how much right now?
1,800.
1,800 times 90 is what, 1.7 million, 1.6 million?
Now, here's what's sad, okay?
Because I know this is, you're a sentimental guy.
You can appreciate that.
$162.
What if your ancestor had saved up $1,000 for you and put it in an envelope and left you that $1,000?
I mean, if we went and got a couple of seafood towers for lunch, we would spend the $1,000 in one hour, okay?
But if that same $1,000, if they put 50 ounces of gold, think about the different generational wealth.
Yeah, so this is one of the, you know how your parents, you know, when we were in school, they're like, you know, buy these coins, set it aside, give it to your kids 30 years from now, or something like that.
I remember one time, the uncirculated nickels, do you remember that whole uncirculated nickel?
I got a case of uncirculated nickels about 20 years ago for 500 bucks.
And I don't know if you've seen these uncirculated nickels.
You ever seen those things when they would come out?
Okay.
So it's literally in the tube that comes out.
It's never been circulated to people.
You buy $500 worth.
You set it aside.
One day I'm going to give it to Ticon Dylan.
And they'll sell it for whatever, $20,000, $30,000, $40,000, right?
You're saying this is one of those things.
2%, 3%, get some of this, set it aside.
And like you asked me a question, why about gold?
Here's why I bought gold.
So, you know, for me, I have around $7 million worth of cards is what I have.
Okay.
And the reason why I like cards is because to me, there's only 25 of these in the world.
This card right here, okay?
This is Aaron Rodgers rookie card, 05.
Guy's got the best team in the league this year.
Some way say that he could win the Super Bowl.
Whether he does or not, he leaves.
I'm probably going to end up selling this in the next five, 10 years for $200,000 to $500,000, okay?
This card right here that I paid $30,000 for.
That's pretty proven, unless if he does something stupid, like an OJ story, something like that, the return on this is going to be pretty high.
I didn't buy gold for that reason.
Gold is a buy for me of end of the world type of a mindset.
There's a slightly defensive strategy, but it's also shit hits the fan.
It's good to have a little bit.
And when I mean shit hits the fan, I mean like cyber warfare, insanity, crazy stuff, not even this, you know, bio-warfare that people are talking about with COVID.
I'm talking cyber because we haven't experienced cyber.
Cyber is going to be a lot scarier than it's going to be with COVID.
Because cyber, you're going to be like, I can't even touch my money.
Just notice for a minute here, we didn't have internet how we felt.
You felt helpless for like five minutes, right?
Like, hey, what are we doing?
What are we doing?
Imagine if you can't touch your money.
You can't make a transaction.
Think about that's this.
All right, let's go there.
Let's go.
That's coming.
It's going to be the end of the decade, by the way.
So that's that's that's coming.
That's the thing.
You seem pretty certain about it when you make a claim like that.
You seem pretty confident about that.
That's the next chapter.
Because if you look, I want you, I'm always watching people, okay?
And I don't like to have my phone.
And I watch these people, they're glued to the phone, right?
They cannot live without the phone.
They have a panic attack if they don't have the phone.
All their information they get from the phone.
So we're dependent with the phone.
And so if you think about it, if you want total control of the society, you already have people bought into their money being digital on the phone.
So you get that going.
Now no one can function without this.
And then you throw a crash in there and you say to people, well, unfortunately, the system was vulnerable.
It was hacked.
Everyone's in panic.
And what we're going to need to do is have an implantable identification device that makes it to where this can never happen again.
And everybody will say, I'm in.
Put it in me.
Can you see this happening?
Yeah, for sure.
Before we move on, though, one thing I did want to point out to people, you showed $20, one ounce of gold in 1920.
Tyler, can you pull up real quick what the average salary was in 1920?
The average salary was $34,000.
No, no, no.
No, $3,269.
$3,269.
$3,269.
Yeah, okay, that sounds good.
And what's the average salary today?
$60.
$34,000.
$34,000.
It's not the right number.
It's 2012.
It's 2012.
So it's $3,200.
$20, $20X.
$20.
It's $20X today.
Yeah.
But the money, 90X.
The gold.
90X.
Gold is 90X.
What I'm saying, when it was tethered to our money.
Absolutely.
So the actual rate of the money that you earn is one-third of what it was 100 years.
You're short.
So the hours of your life, for people that don't understand what they're seeing, for maybe like somebody that's younger, that doesn't understand, like, okay, like whatever.
I'm just trying to pay bills.
I don't care about investing.
Dude, what this shows is that you need to work three times as many hours to get the same amount of tangible wealth as somebody did in 1920.
So Pat, you're a numbers guy.
I've put my entire net worth and my entire life effort into grabbing decades of exposure to this going up a little tiny bit in value.
So like you go to 2,500 on this, which I think is like completely doable.
It's not a big ask to see this go to 2,500.
For an ounce for a bounce like that.
People waking up.
So you're waking up right now.
Like this is all boom.
It's all hitting right now.
And as people wake up to this, 2,500 is completely in the cards.
And I've got decades of exposure to that coming out of the ground with no exposure to cost.
Yeah, but you're playing a different game.
You're not the average guy, though.
So to the average guy listening to you.
A Robinhood account guy can buy one share of the stock, period.
It's $7.
I mean, it's like, you know, you're in.
I mean, sure.
But you're making the money in a different way.
You've hedged yourself in a, you position yourself in a completely different game.
The 1% that you're going to make regardless, you're in a very good position.
But here's the biggest part for me.
What I took away from this exchange was the following.
As a marketer, I think 80% of Golt's salespeople are selling it the wrong way.
As a marketer, I think they're selling it the wrong way.
I remember earlier in 2010, 2011, everybody started selling gold.
I don't know if you remember that or not.
It's going to 5,000.
It's going to 5,000.
It's going to 50,000.
Mr. T was doing commercials.
Oh, I mean, I remember that.
Guys were food at a gold.
Guys were making real money.
So you remember how the correlation we met?
So this is the next thing I want to get into with you.
So we talk about what causes communist communism membership to go up.
What causes membership to go up?
Like the highest level of membership and communism in America was when?
After the 1929, you know, inflationary Great Depression, and everybody joined the communist movement.
This is when the whole political stories you hear about, Reagan, SAG, president, we got to get the communists out of Hollywood.
And then all of a sudden, people are like, dude, we're not interested in communism.
This doesn't work.
So membership went dramatically down, right?
So to me, there is a cause and effect when it comes down to memberships to communism.
When it comes down to real estate going up and down, inflation goes up, real estate prices go down, unless if your real estate is in a position where it's always going to do well because there's a demand, water, community nearer school, nearer whatever, right?
The part that's been confusing the last 18 months has been the typical things that makes gold move hasn't moved.
Right.
So it's going the opposite.
It's going the opposite.
So what do you think is going on?
Well, back to your point.
I mean, you've got to somehow learn how to think opposite in markets if you want to make money.
Like when, remember the stories, Joe Kennedy with like the shoeshine guys giving him a stock tip and he goes and shorts the whole market and makes a fortune, a generational fortune, right?
Because he was playing the opposite.
We have the SEC because of that guy.
That guy is what started all these regulation securities industries.
Yeah, and he agreed.
Yeah, his whole thing was like if the shoeshine guy's in, there's nobody else to get in.
And so when you look at the crypto market, who else is there to get in?
I mean, the drivers are all the internet.
You got the bros and you got to go.
Go get in that elevator out there and wait for somebody from a random company in this building and ask them, you got any crypto?
They'll be like, oh, yeah, I sure do, man.
I want more.
I mean, everybody is in.
So you've got to kind of think a little bit opposite.
So like the whole thing is happening right now.
Like the whole collapse is happening right now and nobody wants gold.
But to your point of selling gold, like in the book, I explained, I have my gold dealers listed in the book, right?
So if you call and say, I read the book and I like to buy an ounce of gold, I tell you what to buy.
Like this is the thing you need to buy.
The problem is those guys on TV are selling you collectible coins.
They're like, well, this one commemorates the moon landing.
So it's really rare.
They only made a million of them.
And you should buy this and pay double the price of gold.
So that's what you got to watch out for.
And I explained that in the book.
And a lot of the Mr. T was buying gold, remember?
It was cash for gold.
So give us your gold.
We'll give you the cash.
So, okay, nobody has an, there's no reason for someone, there's nobody selling this gold.
Like the brokers that sell you this coin right here, they make like 2% or 3% max.
I mean, it's not much money.
It's not like they dug the gold up and spent 1,000 digging it up and then they sold it to you.
Okay, so all the gold that's ever been mined in human history fits in a couple of swimming pools.
I mean, it's not much gold.
You have to remember that it's like there's not a factory making gold, selling you the gold, making money.
There's only 20% that we haven't found.
That's the number you hear about.
There's not 50,000 tons.
It's falling dramatically.
That we have not found.
We have not mined yet.
Supposedly.
So 50,000 tons.
Okay, so look, there used to be like a 50 million ounce gold mine found about every 10 years, you know, and there hasn't been one in almost 20 years.
And there's no money being spent exploring.
That's why Bezos wants to go to the moon.
But see, here's the thing.
Okay, so you go to the moon and you find a lot of gold, and you have to transport it back here.
Do you know what the ESG rating for that mining company is going to be?
I mean, it's going to be terrible, right?
Because, I mean, how are you going to get it back here?
You've got to burn rockets to go back and forth?
I mean, I've been told.
I've been to many, many, many gold mines, okay?
Let me tell you, like, this is an immense undertaking.
I mean, you have trucks with tires that are twice my size driving in and out of this thing all day long, bringing dumplings of dirt up to the surface.
2,000 pounds of each one.
There's like two grams of gold.
This is 32 grams of gold.
So basically, you have 16 dump trucks coming up to make one coin.
I mean, come on, this represents real human effort.
So the amount of gold being discovered is going down, okay?
And so you have this looming shortage, and you can see it.
And to your point, was that the narrative doesn't support it.
But I'm telling you, when the narrative does support it, we need to be selling.
That's what you got to remember: is that there's going to be a day where all the guys in the elevator, like, they want this.
And that's when you are probably trading this for some Fed coin to start a business or to do something else, right?
Because it's happening now.
So like you want to prepare.
When did you want to buy crypto?
Like I remember in the book, I tell an honest story about hearing about crypto when it was 10 bucks.
And my buddy was like, we could mine this stuff with all these old computers.
And I'm like, what do you think?
I'm an idiot.
I'm not going to do that.
That sounds dumb.
Okay.
So you had the ability to buy Bitcoin at 10 bucks.
And you're like, I was like, I'm not a moron.
And I remember when Peter Schiff was running for Senate in Freedom Fest 2009.
I mean, I remember being out there.
And this was like I was in this community.
I'm in these scenes where you're hearing about this stuff early.
And so I'm saying to you, it sounds, you want to think opposite.
Like when the shoeshine guy wants the Bitcoin, it's a little bit late, maybe.
I mean, you can own some.
It's not like it's going to go.
You're not in Bitcoin at all?
No, it's not like it's going to go to zero.
Don't get me wrong.
You have zero in crypto right now.
Zero crypto.
Yeah.
Zero.
Zero.
And how much do you have in silver?
A lot.
Okay, more than you have in gold.
No, no, more gold.
Silver's hard to store.
Is it two to one?
I don't know.
I mean, the problem with the silver is that I ended up with so much of it that it became a nuisance.
I mean, you've got like if you're struggling with it, I'm happy to help you.
Boxes and boxes.
So where are you keeping this stuff?
Is my point.
That's the problem.
No, like a genuine question.
Like, I wanted to ask you a question.
That's easy.
That's real.
Is it in a safe?
Is it in a vault?
It's somewhere.
It's in my dashboard in the car.
Somebody wants to break it.
No, but that's the question.
It's like, all right, I got to lug this around if you're not.
No, no, no.
The reason why I got it.
You keep it in a bank.
I got off silver was because I ended up with a storage problem.
So I've got silver all over the place.
Terrible problem to have.
All over the place.
Set aside the sarcasm.
That's a very common story you hear.
Yeah.
Now, silver.
What do you mean?
Break that down.
Storage problem.
Yeah, so I mean, I ended up.
It's only 200 bucks a coin, right?
I've got like 100-ounce silver bars that I've got like as paper weights just for the hell of a problem.
Well, explain it to him this way.
This is the best part to explain it.
So one of these is worth what?
$60K.
Pretty much.
How much does $60,000 worth of silver take space on this table?
The whole table.
That's the point.
So $60,000 is the whole table.
Gotcha.
Now, let's just get people to understand something, though.
Silver is very interesting from an investment perspective.
Silver probably goes to 100 at some point, an ounce.
What is it now?
22.
So silver goes wild for a number of reasons.
I mean, there's a lot of silver used in solar, like electricity.
I feel like I've heard this for 20 years, though.
I know, but he's not hyping up silver.
Well, that's, yeah, he's on a different kind of wavelength.
But basically, the thing about silver that you got to know is that silver's a trade.
So gold is something you can put in the safe.
It takes up no space.
You can own it forever.
It's not that big of a deal.
I mean, you're not trying to make money on it.
But silver went to 50 in 1980.
It went to 50 in 2011.
That's going to be a triple top.
Like, there's a huge problem with production because there's almost no silver mining.
It's all byproduct.
So it comes from like a copper mine that produces a little bit of silver or a zinc mine that produces a little bit of silver.
So silver, you can't go turn up the production on silver is my point.
So when silver starts to go, there's a huge shortage of silver.
When silver starts to move, it goes crazy.
And so I probably hypothetically would get rid of some of the silver in that type of move where I don't see gold going on a 5X move.
I think it's like too extreme.
I mean, I see gold going to like 2,500.
And the royalty company is all the exposure I'll ever know.
A couple guys here are commenting saying silver is Ethereum, gold is Bitcoin.
Would you agree with that?
Well, I think Ethereum is better than Bitcoin.
So it's hard to, I don't feel that way.
I think that's the way they've marketed it.
But, you know, I think Ethereum is much more interesting than Bitcoin.
Okay, let me read you this other article from Cointelegraph in regards to how to hedge against inflation, because that's kind of where I was going with the question.
Gold, Bitcoin, or DeFi, how can investors hedge against inflation?
And a note sent to client strategists at Wall Street Banking giant JPMorgan has suggested that a 1% portfolio allocation to Bitcoin could serve a hedge against fluctuations in traditional asset classes.
That's JPMorgan.
That's Jamie Diamond saying 1% in Bitcoin, the decentralized finance, DeFi, sector is a viable alternative by using stable coins, cryptocurrencies with a price of a control mechanism and decentralized applications.
Investors could outpace inflation while resisting the risk of a spot position.
To do this, they simply have to find a way to earn interest on the stable coins that would be above annual inflation rates.
Bitcoin is more attractive as a store of value than other assets, such as commodities, as growing demand can only be met by rising prices and not traditional production.
And then this is the last one.
Gold has underperformed this year, dropping 8.6% against the dollar, while the CPI in the U.S. moved up 6.2%.
Inflation.
Gold failed investors who bet on it, while BTC Bitcoin is up 92.3% year-to-date, rewarding those who believe in it as a hedge.
Thoughts?
You hear the narrative?
Yeah.
You hear the narrative?
Gold failed you this week.
So go with the Bitcoin so we can track everything that you buy.
All right.
There's $12 trillion worth of gold in the whole world.
Okay.
So if everybody with financial, let's say there's like $250 trillion of financial assets in the world, if 1% of those tried to go into gold, forget about it.
It does not exist.
That's the market cap of gold.
They're saying it's 12 trillion.
12 trillion.
Bitcoin is 1 trillion.
Bitcoin is about a trillion.
So it's 12x Bitcoin.
Yeah.
But look, my point is that if they said put 1% of your portfolio into gold for worldwide, you better have guns because it doesn't exist.
Like the annual supply is about 3,000 tons and shrinking.
There's no way.
Who's going to give you the gold?
The government, Central Bank of Russia, forget about it.
All the elite families of the world, mining in Antarctica and deep sea mining will begin and all that.
No way.
I mean, it's too expensive.
You better have 5,000 an ounce to get the stuff off the bottom of the ocean.
Like you can forget about it.
It's not possible.
I'm in the business.
I'm telling you that the low-value gold to go after, it's not there.
And so you read these pieces and what's the narrative?
The narrative is, oh, you're now worried about inflation?
Buy crypto.
That'll protect you.
You did nine times, because Bitcoin's up 90%.
Inflation, they say, is 6.
It's really 10.
Okay.
So you did nine times better than inflation this year.
Just buy some Bitcoin and bada boom, you're good.
Let me ask you, Ibi, do you ever have dialogue or debates with staunch crypto or Bitcoin people, like a pump versus an EB?
If you guys were debating right now and you're like, oh, this is what it is.
He's like, no, you don't understand Bitcoin.
Yeah, I don't think that's a good idea.
And you guys clash.
What does that conversation?
It would have been better.
Could have a conversation with Kurt from last week.
I don't think it's like better.
I just don't think it accomplishes the purpose that the narrative tells you that it accomplishes.
So, do you not own crypto out of spiteful?
No, no.
I mean, it's not spiteful.
I mean, I'm just like, look, you only need one trick in your bag, right?
I mean, like, I know how to create wealth on the royalty business model.
Like, I know how to do that, and it's available to everyone.
It's not like I created wealth and then took the company public at peak valuation.
I use the public company to buy the royalties.
You could have bought the stock for 80 cents a share, U.S. when we started.
You know, it's like up 9X right now, okay?
And it's had a terrible year.
And we used that to acquire all the royalties.
We went to the guy that owned the royalty.
We said, we'll give you a million of stock and a million of cash to buy the royalty.
Now we have two, now we have four.
Now we have 25, now we have 50, now we have 70.
Okay.
So we have like hundreds of thousands of ounces of gold in the ground spread all over the world that someone else is going to dig up.
And the actual investor could have been with us the whole way.
I bought the stock in the market.
Like as a director, you can see that.
So I know how to make money in this zone.
And so my thing with crypto is it's like I don't really need to go and have a thumb drive with 20 Bitcoin on it just to be in it.
I don't.
There's a lot of people that would disagree with you on that because to me, for example, like the whole storage thing, I think that's a lot.
That's going to be a big argument that they're going to have.
Palm's going to have on his side.
The argument of direct fight of crypto versus gold, I think crypto is going to win.
I don't think gold is a direct fight against, I think gold is a fight against fiat.
I think gold is a fight against that.
If you ever fight directly with Bitcoin, you're going to get your tail handed to you because their argument is a better argument.
And I'm not a crypto guy or a gold guy.
I'm simply a business guy, is what I am.
I'm talking from a very logical, reasonable side myself.
But let me go back.
I asked you a question.
And very quickly, you kind of said no to it.
You don't think meta is the future.
So you don't think what Zucker just did, the fact that the next generation of 12-year-olds today, 18-year-olds today, are going to be sitting there hours a day instead of being on their phone, they're going to be on their virtual reality in a meta world.
You don't think that's the direction we're going?
Metaverse.
I thought you said metal is the future.
No, no, no.
Metaverse.
Yeah.
Definitely metaverse is where people are going to live.
I mean, and this is where people are going to exist and interact.
I mean, you know, like Roblox, I mean, it's very interesting.
Like kids all over it.
It's very interesting.
And they'll tell you, I need some of this to buy a digital watch so that I can flex with my watch in the metaverse.
And you're thinking, hang on a minute.
Tell me that one more time.
Dylan showed it to me the other day.
Timo show me.
Can I get 10 bucks to buy this?
I'm like, to do what?
Yeah.
And so can you zoom out and see where this is going?
I mean, I predict by the end of the decade, this is so pervasive that people want to take a psychedelic to have a human experience.
I mean, this is going to be, you know, the drugs have, remember the 80s is like the Coke era.
And then the 90s is like, you have these eras, right?
And so people are going to crave that type of, we're human beings.
We're humans.
Like, you can't get away from it.
So remember, right now, your kid at 10 years old, mask, okay?
They're going to school.
No one can see their face.
You better wash your hands all the time.
Don't play with any other kids.
Stay home.
Stay in your room.
And what's happening?
I'm anxious.
Kids are having all these problems.
Like, I'm anxious.
I don't know what to do.
I can't talk to anyone.
The kids can't talk.
I mean, Pat, I'm sure your kids can talk.
And then you go home, you go online, because you have this type of engagement with your family, but it's like the average kid in a D.R. Horton home in a subdivision that's locked in his room, covered in sanitizer.
He's up there.
Metaverse is his one outlet from reality.
And so where is this headed?
Is.
You can see a society that goes down this type of path and imagine from the controlling elite, yeah, you're now, you're all your.
Your whole life is infinitely controllable because you've.
You've abandoned all your critical thinking skills.
I mean all Einstein, like Carl Sagan, all these guys said, you know, the technology evolves to the point where people abandon the ability to think and to be human and to have critical thoughts.
So did Ted Kaczynski though, in fairness, critical thought, you know, and you can see this happening right now.
I mean I'm like you, I go somewhere and I'm like how you doing and people are absolutely terrified.
I mean, and that's a new concept, this is that didn't exist before.
This is early yeah, but this wait wait, wait.
So I mean I agree with you 100% and I think society is going to really break into like two different realms there.
You're going to have the the, the real and the and the pseudo real, the virtual and the real world.
Yeah, so that.
But that actually goes against your argument exactly.
I mean the idea of his kids are going to interact with digital currency far more in their life than they're ever going to interact with tangible people.
Will there ever ever be a time where people say, holy crap, my entire existence is controllable.
I don't know.
Can you pull that back, please?
I don't know.
Will there ever be a point where the HB is though, will they care?
Because they might not.
If you told me two years ago that the city of New York and the people inside it would allow somebody to shut their businesses down, would allow somebody to curfew them and muzzle them, would allow somebody to essentially put soft martial law on the city of New York for years?
I would have said you're out of your mind.
And here'd be people hanging from the bridge, and it didn't happen.
As a matter of fact, they agreed with it.
Yeah.
And what's amazing is you asked them what makes New York great, and they're like, capitalist center of the world.
And you're like, really?
Here's a question, though.
It's crazy.
Here's a question, though.
Yeah, man.
What's new, guys?
What do we like?
This is what's new.
I can actually answer that because I've thought about this non-stop.
What's new is that the control is now comfortable.
When our forefathers got taxed and they didn't have representation, there was discomfort.
There wasn't constant distraction.
Right now, you can be controlled.
Your life is controlled, but you're in an air-conditioned room.
You have access to a metaverse.
I don't know.
You have distractions today.
Okay, can I push back?
Let me push back.
Let me push back.
Okay.
What happened in 1913?
What happened in 1913?
1913.
They got an income tax.
Taxes were introduced.
Of course.
Okay.
But only for the millionaires.
Okay.
Five of them.
Fine.
But here's a question.
Okay, let me go to a different timeline for you.
And then they didn't like it, so they created this money back.
What happened in 1862, 1863?
1862, when there was a Civil War, wasn't it?
Okay.
And then Lincoln came out and he said, we need to have taxes because we need to pay off this Civil War.
Once we pay it off, we will get away with taxes.
And the American people said, what?
Shit, okay, we trust you, bro.
Okay, fine.
I'll pay some taxes.
So he put some tears.
It was, by the way, was minimal, like 2% to 6%, 6 to 10%.
And he says, once we pay off the debt for Civil War, we'll stop paying taxes.
But you know what happened to taxes?
Do you think it ever went away?
It would never go away.
Here's the thing.
It did go away in 1872 under Lincoln.
In 1872, income taxes went away.
Okay, but let me explain to you where I'm going with this.
13.
Cigar taxes didn't go away.
I mean, the income tax did, but they had taxes.
They had income taxes, which was the main one that collected most of the money.
So that went away, which was the model.
Guys, listen, like, imagine if I come up and I say, guys, shit, we just raised $50 million to do this.
Look, here's what we got with the movie.
It's going to blow up.
I need you guys to take a 10% pay cut and your income.
I'll take 100% pay cut.
You guys in.
I hope you do it.
And we say, okay, let's do it.
But at the same time, if we come back, we'll increase it to 15%.
The point is, for the longest time, people have said, all right, cool.
Withholding tax, you know, the whole withholding tax withholding concept?
You know who came up with that?
A guy named Milton Friedman.
And he said it was one of the biggest regrets I make in my life that I agreed to it.
What I'm trying to say is historically, we've all been like, majority of the world's been like, okay, and there's been a select few of 10% of people that are willing to fight back to bully the bully, and everybody else had to make a decision to see who was better at presenting their argument.
But the point I'm trying to make here with them on the meta side, and I want you to push back on this as well, on the meta side is the following.
If we are going that direction, there's nothing you can do about it on the meta side to change it.
We can't change that direction.
We're going in that direction.
It is already too late.
A guy pitched a meta world for value tame to me three years ago, Antonio, who was here with us, and I'm like, what?
And then now he came back and now we're having a real conversation about it.
So if we go to that route, this means what?
Sure.
Yeah, this is what you'll just buy a representation of that in the value attainment world.
You know, you'll have like a gold mine that has little trucks moving.
But that becomes an NFT.
But they're selling digital real estate now.
There's digital landscape.
Someone just bought a multi-million dollar yacht on a metaverse to hang out on a fake yacht.
I'd rather go to a real yacht and sell it.
Will there ever be a time where maybe you're taking the mushroom trip to have a human experience and you say, wait a minute, like I had a thought and my social credit score went down and now I don't have access to the value metaverse because I'm being punished.
They're trying to do it.
And what will you want insecurity?
They're trying to create an environment of insulated insecurity.
You're fat on a real yacht.
You're not fat on the metaverse yacht.
You're short in real life.
You're not short in metaverse.
You can't dunk in real life, but on NBA, on NBA 2K, you can dunk.
You can 360.
So there's this idea that the real world is unfair.
So now, going back to your point, these people are able to get control because they're making life fairer for everybody.
Give up all my control in the real world because I don't like the real world.
I don't like who I am.
I don't like the money that I make.
I don't like the way that I look juxtaposed against this.
I don't like the girlfriend that I have.
The metaverse is the world that I want.
This is my idealized version of self.
So I will give up everything in the real world as long as you keep me safe and as long as I can have access to my idealized world.
Let me go somewhere with that.
Let me go somewhere with that.
That just happened.
You guys saw Mark Cuban bought a small city, right?
Yeah.
What did he pay for it, by the way?
Like $4 million.
Okay, let me read that real quick and you'll see where I'm going with this part.
Mustang, Texas.
Yeah, something like that.
He just decided to buy the city.
Mark Cuban buys a small town in Texas just because, CNN stored.
He just bought the entire town of Mustang, Texas, a blip on the map off I-45 with a population of 21 people.
The reason Cuban said a buddy needed to sell it.
I don't know what if anything I will do with it, Cuban said, Mustang is pretty much a 77-acre blank canvas for Cuban.
The town was founded in the 1970s, and et cetera, et cetera.
There's nothing really crazy about it, right?
On why he bought this for $4 million.
But here's what I will tell you.
To argue my own point I just made, to argue my own point I just made is the following.
Here's what I think folks who have money ought to do.
Here's what I think folks who have money ought to do.
I think what would be very interesting is the following.
America was kind of founded on being a country that you would come to, that you had to qualify to come here, right?
You went through what?
The whole island you would go to.
Rikers.
Ellis Island.
Ellis Island, not Rikers.
I'm not thinking of Rikers.
Ellis Island.
Too much mafia state in my bad.
Ellis.
You'd go to Ellis Island, and the first question was, what?
What value do you bring to us?
And you would say, I know how to sew.
I know how to do this.
And they would say, okay, cool.
Come on here.
You're bringing value to America, right?
That was the right setup.
And then it was what?
What value do you bring?
Who cares?
Come on.
You're a criminal?
Totally fine, bro.
Come on.
It's okay.
We welcome everybody.
It's standards were dropped.
It's almost like this IMG, whatever the sports program is, they pay $83,000 per year.
Yeah, where you go there and your kid goes, becomes one of the best tennis players.
And they said, you know what, though?
You're rich, Pat?
Send your kid.
It's okay.
You're lowering the standard just because of money, right?
That's what happened to America.
It dropped its standards dramatically.
What I would be very interested in is the following.
Take some of these guys, like who's the guy that made $5 billion on a Roth Ira, Peter Theo.
Take some of these guys who bring their money together and they say, look, let's put $100 billion.
Let's buy a small country.
And the only people that can come here, you have to qualify.
And the standards are so high.
And in our Constitution, it states you have to only bring value to companies.
Who is John Gall?
But I think that's the direction it's coming next.
If you get to the tipping point that you piss off the creators, the creators always have an option.
So what I'm saying to you is, I think this whole thing of majority saying, oh my gosh, the government is so good to me.
They're giving me so many free things.
This is awesome.
What a great noble of people.
I can just stay home and kick in and just buy Ethereum and Bitcoin and make money and play video games.
These guys are the greatest people I've ever seen in my life.
And they're going to say, oh, really?
Really?
No problem.
You want to do drugs?
Did you hear what Elon Musk said yesterday in an interview about drugs?
Did you guys hear about this or no?
Elon Musk says drugs probably make you age more.
If you can go a little bit lower, Tesla Inc. Elon Musk spoke out in opposition to President Joe Biden's economic signature package, questioning the need for legislation that would support electric car adoption due to concerns government.
And then he's talking, and then eventually he starts talking about drugs in this interview.
So yes, we're going in this direction of, hey, you should try this, you know, try this drug, try that drug, try this drug.
I think the creators in the next 5, 10, 15 years, what Mark Cuban did with $4 million, dude, if $100 billion, people say we're buying a country, you want it?
It's $10 million buying.
No problem, I'm in.
I'm fully in.
Put $10 million, a minimum $10 million buying to live in this place.
Let's go create.
And then we go.
And then we start building our own country.
I think, do not be surprised if in the next 5, 10, 15 years, that takes place.
It's called Singapore, and it already exists.
It was exactly this concept.
And that's where everyone is, by the way.
There's been more family offices open there than any other place in the world.
Medical.
That's your boy.
Medical COVID, exactly.
The Bloomberg New Economy Forum is, by the way, that's the next generation of World Economic Forum.
That's kind of done.
It's the Bloomberg New Economy Forum.
It just happened.
It was in Singapore.
Everybody was there.
You know, there's too many jets and not enough hangers.
I mean, it's this type of thing is going on.
Have you seen what Singapore looks like, by the way?
Yeah, pull up Singapore.
It used to be a swamp.
Okay, so, but this is, you're talking about something that's different from, imagine that as a swamp to that, you know, all because of what you're talking about.
But in this era, the power, okay, the power is in control of data.
I mean, data is what these guys want to control, like Musk.
The cars are not the issue here.
You know, it's control.
It's what can you grab?
That's where your power comes from.
But we're talking about the underclass.
You know, in America, there was no, nowadays, it's like you just walk across the border and get a social security number and you're part of the underclass.
And elites love a huge underclass.
It's kind of like when you go to Mexico City, it's a nice place if you're an elite because you have a big wall around your place and you have guards and you have all these things.
And it's not a nice place if you're looking for meritocracy, for a place to rise.
Feudalism.
It's very difficult.
But if you're at the top, it's nobody is going to come and get you as long as you play your cards right now.
Slavery is good for the plantation owner.
Exactly.
And so, what you're talking about is very complicated because you have this gigantic underclass that's kind of waiting for the sweepstakes with crypto.
You know, the next coin that went up to a penny is pancake coin, you know, and everybody's like, oh, my friend had it.
I should have bought it.
I mean, this is distraction and metaverse is distraction.
But now you're talking about elite, what elites are going to do?
And they're not going to advertise that you can come to the compound.
I mean, these guys are doing this.
It's happening right now.
I mean, these guys are not sitting around in Kansas City in a subdivision.
I mean, it's, it's, it's a different way.
I will tell you, there is a way to there is a way to judge somebody that's going to bring that even is a not a millionaire, not a billionaire, that's going to bring value to your town.
It's very easy to decipher and process through that.
It's not that complicated.
What are you bringing to the table?
We're going away from what are you bringing to the table.
So this is a two-point argument here that we, the last 15 minutes we went into.
We'll change the topic here in a second.
One of the arguments is: is meta coming?
Yes.
Is it going away?
I don't think so.
You may say it's going away.
I don't think it's going away.
If it's not going away, this is not going to be the same as it's been the last 20 years because meta is a full argument against this.
And NFT, Ethereum, Bitcoin, all of that is going to be an argument for why you ought to be there.
Because if you want to buy a token, the only way you can buy a token 50% of the time is through Ethereum, right?
If you want to get in there, if you want to buy an NFT, if you want to do this, you know, I was just at Art Basel conference this last week.
You guys went to Art Basel, you know how it was.
So you're walking around and you're looking at Greensboro, North Carolina.
Well, you crushed it.
I mean, some of the guys were sending me messages, but going back to it.
So I was at Art Basel and I'm walking around.
I'm looking at these pictures.
Okay, some of the stuff was freaking strange.
That's art.
I love it, right?
But I don't know if you saw that.
There were like 10 galleries that were selling NFT art.
And that's all it was.
Did you talk to Perez?
You know, he had comments that went kind of yeah, I mean, it went, he got like a lot of heat because he was really upset about this because he said art is an experience.
You know, it's kind of like I've been out to Marfa, Texas to see the Donald Judd Foundation, and it's really a trip everyone should make.
I mean, Jeff Gunlock is the one that told me about visiting there.
He's like, you've got to visit there.
It's this Dan Flavin light exhibits and all these things.
You can't see them anywhere else.
See them anywhere else, okay?
Think about what Gunlock told me.
You can't see them anywhere else.
You go to the Judd Foundation, no cameras.
Not because they don't want you to photograph the art, because Donald Judd said, if you're looking at the aperture of a camera, you're not using your eyes.
And the art affects your eyes because you look at the art, you have an experience.
And I want you to have that experience here.
You can look at your camera some other time.
Perez is saying that.
He's saying art is an experience.
How old is Perez?
Perez is not young, but he is the argument.
So here's the thing: are we transitioning into a time where the experience is you've got a rock with two laser eyes and you flex in the metaverse?
And if we are, then what you were saying is human beings now are comfortable not having individuality, which probably is true.
But will they ever wake up and say, my whole entire life is captured and gone?
Well, there's two different arguments that are being made right here.
Well, do you, do, do, do you eventually, most people become grumpy old men.
Okay.
Slowly we do.
And by the way, and we have to cling on whatever our legacy is.
And anything that takes away from our legacy, we kind of become grumpy.
So let's just say, whatever that legislation.
Do you know anything about George Perez?
Do you know about Pam?
It's the Perez Art Museum of Miami.
I lived across the street from him.
But like the guy has a vested interest in typical art.
What I'm trying to say is, what I'm trying to say is if you're going there and the legacy is tied to it, he has to say that.
But unfortunately, I don't own a single NFT.
Not one.
I don't own one of those monkeys, any of that.
And I don't know none of that stuff, right?
Or the board apes.
The apes.
I don't know if I may eventually buy one.
I'm telling you guys of right now I don't.
All I'm saying to you is a comment like that being made, you know, goes back to the movie Grumpy Old Man.
Let me say something about it.
He's a legend.
I get it.
But in that market, the argument from NFT is going to be yeah.
Let me say something about what E.B. said that I want to revisit.
And you touch on it with the NFT.
So you talked about essentially the Warren Buffett quote about be fearful when people are greedy and be greedy when people are fearful.
I was also there a few hours after you.
This was Sunday.
I was there with my wife and kids.
You were there with four girlfriends.
Regardless, we were checking out art.
It was good.
Adrian actually bought a piece.
Adrian bought a piece in crypto.
Or a buddy.
A real piece.
He used digital currency to buy a real piece of art.
Jackpot.
All right.
So here's my point.
Be fearful when people are greedy.
Be greedy.
So we're there.
We're checking out art.
It's crazy.
It's expensive.
Hot tip.
You go on Sunday at 7 o'clock when it ends at 8 and they're selling a piece for 5,000.
They're selling a piece for $5,000.
You're like, look, it's going to cost you $1,000 and ship it.
I'll take it off your hand.
I'll give you it for $3,200.
Bing, bang, bang, bang, bang.
So some guy comes up to me and he has this like French accent.
He's like, yes, look at this piece.
We're selling it as an NFT.
And you have to understand that we're showing you the experience.
But then when you buy it, and I go, yeah, but what's the NFT?
He's like, yes, this is the wave of the future and you have to understand.
And I go, yeah, but what's the NFT?
Maybe Perez owns the building.
We get to the bottom of it finally.
All right.
Almost back.
Yeah.
I'm buddies with his son, JP Perez.
Total pam.
So anyways, you were saying, so the old code, the book, yeah, it's bad.
There's a children's book, The Emperor's Clothes, you know, and we all know the story is that they're like, no, no, you look great.
You should spend a lot of your treasure to buy this new fabric.
And there is no fabric.
And he's naked.
And then he's all embarrassed in the end.
And so what we're really saying is, will there ever be a moment when people say, holy crap, I mean, I actually need something that I can put my hand on.
And the answer so far has been no.
And not for one year or two years, but for a whole while.
Tesla back in the day was saying that he didn't like the concept of television because people will think they've gone to the Grand Canyon because they've seen the Grand Canyon and you haven't really seen the Grand Canyon.
His whole thing was he wanted to transport people there.
That's what he thinks technology should have been used for.
Human transport instead of just, he thought it was cheapening.
Obviously, him and Edison didn't get along, but he thought it was cheap that somebody could take a digital rendering of something, show it to somebody, and then their brain would interpret it as having been there.
But we're going to be able to go to the Grand Canyon in the metaverse.
We're going to be able to go.
Who wants to stand in line in Disney World?
You can go in the Disney World and the metaverse and not have a line and then go up and down the roller coaster in the metaverse.
Philosophically, I tend to agree with you.
I don't like where it's going.
I think it's dangerous.
I think that giving up personal autonomy for non-stop serotonin is horrible.
But I don't see it.
And why is it horrible?
Because now someone can turn it off.
Yeah, it's total control.
You're right.
See, all we're talking about is the upside of it.
The smartphone's great.
You know where you're going all the time.
You can pre-order a coffee and make it any way you want.
But someone can turn it off.
No, no, no.
You're saying that controller can turn it off.
But as a user, you can also turn it off and say, I'm going off the grid.
No, no, real quick.
is what i think has happened in this conversation this is what i've we're having two different conversations at the same time We're having a conversation about where this thing is going.
And then you're having a conversation about why it's wrong to go that way.
I don't disagree with you, but we're talking about trying to speculate.
We're talking about tangible and real.
You can do both.
I really believe you can do both.
I mean, that's why I talk about the platform of the crypto and then the coins.
If you understand the platform and you understand the coins and you want to make a play into it, knowing that you can do both.
You can do both.
But you're two.
I think you're putting it.
I've kind of got all that I need.
You're all in on gold.
Yeah, it's not.
I'm not all in on gold.
I mean, I have the carbon credit royalty business is incredible.
I mean, you're planting mangrove trees in Southeast Asia and selling the carbon capture to people that fly an airplane.
But like right there, though, same thing, but you're doing carbon credits.
Carbon credits is basically a tax for living.
It's an existence tax.
So everything is carbon.
So, I mean, how can you, you're worried about the morality of one thing and then the other thing?
I'm not worried about the morality.
Like, I think you can play a trend, you know, and then you can do something with your own money.
I don't think there's anything more evil.
And I know that all the environmentalists and the lefts and they think I'm a crazy righty and all that other stuff.
There's nothing more evil in the world to me than a carbon tax.
Who the hell gets to tax you for living?
It's crazy.
And people are all for it.
I mean, take a poll of young people and they say that's important.
I mean, people are more interested in that business, by the way, than the Metalla.
Metalla business, you tell someone about 30 years of gold.
No, I'm not interested.
30 years of mangrove trees, I'm all in.
I want that.
When can I buy that on Robinhood?
I'm ready right now.
It's amazing.
Investment bankers, like we'll do a roadshow for that.
We're going public next fall.
They'll set up two weeks of meetings.
In the gold business, one day.
I don't know.
You know, I'm not, you will never put me in the box of a crypto guy.
Would you ever put me, you've been with me for how many?
You're not a crypto guy, and I'm not a gold guy, but I own both.
You are a card guy.
You're a baseball card guy.
By the way, I own most for me is cards.
Second most would be probably crypto.
Then it's gold is what I own, okay?
But my number one is cards, and I'm not including my investments.
Obviously, that's number one.
Stocks, all the other stuff.
That's equities is number one.
But then number two is this.
And so for me, when I think about this, this is, you know, it's a different gig.
I think this, I don't think this is going to, the only thing that's going to make this explode is a catastrophic event.
So if you think about the triggers, inflation goes up, this needs to go up.
It didn't work.
A level of uncertainty in the world, a war happens, a massive, you know, pandemic happens, this needs to go up.
It didn't really work like that.
So the triggers have changed in a major way.
You know, there's speculation in stocks.
There is the Fed all of a sudden votes somebody in that's a communist from Russia and she replaces, let's just say, Powell.
Ooh, we got to be careful because we don't know what she's going to do.
Okay, that goes up.
But it hasn't.
So so many things isn't moving this, and so many things are moving crypto, Bitcoin, Ethereum, that they can say C, C, C, and gold can't say C, C, C.
So the credibility for the gold community, in my opinion, has gone down.
That's my opinion.
It has.
And so here's the thing.
When you get back to that thing about the Moody family, right?
You want to buy your hedge when it's cheap.
Like everybody wants to buy insurance the day after the hurricane comes through.
It's really expensive.
And there hasn't been a storm for years.
No one wants to buy insurance.
That's when you buy the insurance.
So to take a 1% hedge right now, to your point, is extraordinarily cheap.
It's never been cheaper because you have all the signs of swirling clouds in the air and people are like, no, I don't want that.
So take the hedge when it's cheap and then also play the speculative move.
Like play that move.
That's it.
As you're saying in sports, you don't just play offense.
You don't just play defense.
You got to play both sides of the ball.
So play some deep.
And then get on your own.
Nobody cares.
And so you can get in there.
The ironic part about what you're saying also, man, is like nobody clamors for freedom until they have none of it.
Yeah.
Nobody clamors for an open society until they're completely different.
Well, then let's go to the bad guys are winning.
Let's talk about the bad guys are winning.
This is an Atlantic story, which is kind of surprising that they're writing this.
It's a great article.
Yeah.
Today the most brutal members of Autocracy, Inc., don't much care if their countries are criticized or by whom.
The leaders of Iran confidently discount the views of Western infidels.
The leaders of Cuba and Venezuela dismiss the statement of foreigners on the grounds that they are imperialists.
The leaders of China have spent a decade disputing the human rights language long used by international institutions successfully, convincing many people around the world that these Western concepts don't apply to them.
Russia has gone beyond merely ignoring foreign criticism to outright mocking it.
If America removes the promotion of democracy from its foreign policy, if America ceases to interest itself in the fate of other democracies and democratic movements, then autocracies will quickly take our place as source of influence, funding, and ideas.
If Americans, together with our allies, fail to fight the habits and practices of autocracy abroad, we will encounter them at home.
Indeed, they are already here.
If Americans don't help to hold murderous regimes to account, those regimes will retain their sense of impunity.
They will continue to steal, blackmail, torture, intimidate inside their countries as well as inside ours.
Thoughts?
Yeah, look, the title says it all.
The bad guys are winning.
So by default, we have to remember here that in America, we're the freaking good guys.
We're the people that the world needs.
And it's so easy, you know, like the Trump interview, it's like, oh, you think we're so good?
You don't think we've done something?
Yeah, okay, I got that part.
Right.
We've not, not everything we do is the best thing ever.
But without America as the number one power in the world, who takes over?
China?
That's who we're going to leave the power of the world in?
And look who they'd mentioned in this article.
Look at the names.
Iran, Cuba, North Korea, Venezuela, China.
Those are the bad guys.
Those are the autocrats.
Something that we need to understand.
We're obviously a capitalist channel in entrepreneurship.
But above that is democracy.
There's only one way to do it, though.
There's only one way to do it.
Let me explain to you what I mean by this.
So last week we had a meeting in Dallas.
I'm back to Dallas again tomorrow morning.
And then I'm back again.
So I've been, December and January and February for me is such a busy season.
And by the way, we just closed on a new building yesterday, which is exciting for Vietnam.
But let me tell you what happened when I was in Dallas.
I'm in Dallas last week.
We have a meeting.
It's a day and a half.
We start early.
We go late.
It was the most emotionally intense meeting we've ever held.
There's not a single person that wasn't upset in the room, and there wasn't a single person that didn't cry in the room.
Very emotional with the vision of what we want to do next with our company.
Okay?
Let me tell you what happened.
Yesterday, Jose Marlene Gaitan, their organization, their agency that they run, they do around 30, 40 million a year.
Their organization yesterday had an explosive day on a Monday.
You don't have explosive days on Mondays.
The language they're speaking is insane.
People who disagreed with each other are now on the same page.
People who didn't want to be in the same room together are now, let's go kill the enemy, right?
The problem with America on this bullshit article that they write by freaking Atlantic, there's 95 other articles by Atlantic that does the complete opposite bullshit of this.
You write one article talking about we're so great.
You write 94 other articles about how America is this.
It's on you, the media.
So for me, rather than saying something like this, why don't we unite on the common enemy that we have?
Who is the common enemy?
You don't see a common enemy today.
You see AOC on one side, Manchin on the other side, Trump's the enemy.
In America, the enemy is the opposite political party.
That's the biggest problem.
But that's caused by the Atlantic being part of the mainstream.
It's not just the Atlantic.
I'm not saying my Atlantic.
My enemy is our past.
The point I'm trying to make with the media is, as much as the media wants to write noble articles like this, how about we hold you accountable for having caused this division in America today?
How about we hold you to the fire for all this bullshit you do with journalism that you have to be held accountable for?
You given actual journalistic integrity?
You ain't got no journalistic integrity.
So you write one article, you think you're all noble.
Now you want to go out there and talk about this?
No.
I think the problem in America is here today.
Look at this.
China threatens U.S. over-expected diplomatic boycott.
China will take firm countermeasures.
Let me read this article to you and see where I'm going with this part here.
So the Daily Wire, the Biden administration is expected to announce this week that no U.S. government official will attend the 2022 Beijing Olympics, implementing a diplomatic boycott of the game.
CNN reported the move would allow the U.S. to send a message to the world stage to China without preventing U.S. athletes from competing.
Foreign ministry spokesperson mocked the U.S. over the expected move, claiming that they were never invited anyway, but then later making it a threat without being invited.
American politicians keep hyping the so-called diplomatic boycott of the Beijing Winter Olympics, which is purely wishful thinking.
And Grant Stanning, he said, if the U.S. side is bent on going its own way, China will countermeasures, take firm countermeasures.
Senator Ted Cruz told CBS News last month that he supported a diplomatic boycott of the 2022 Winter Olympics in Beijing, and U.S. athletes needed to go over to kick their commies' ass, right?
So, okay, we need stuff like that.
We need a true enemy today to unite the hell out of America.
But everybody needs to be on the same page.
So for me, you write an article like that, great.
People like us talk about it on their podcast.
People share it with other people.
But at the end of the day, one article, one piece, no.
America is pretty united right now because people are pinning people against each other.
The whole Cuomo scandal that took place, okay, with whatever happened with his brother that's going back and forth and then it happens to him and then they found out he was getting guys on the inside to work with him.
He suppressed the information against this.
But here's the kicker, though, on what happened.
The kicker is all of that stuff that happened.
He came out and said, I'm sorry.
Zucker knew and he was helping out as well.
What are we talking about here?
And then he's going to CNN and saying, you better pay me my $80 million or whatever the number that's left.
So look at the debacle of this CNN that was a God agency, a media company a year ago, two years ago.
Now everybody's like, wait, what?
Now, Don Lemon, I don't know if you saw Don Lemon, what came out this morning about Don Lemon.
Did you guys hear about Don Lemon?
How Don Lemon was doing the same thing to what Chris did to Andrew, Don was doing to Jossie Smollett.
Jossie Smollett.
Okay, so this whole thing can break down very quickly.
And there's more.
And there's more.
But the point I'm trying to make is the first way we become united is when media is held accountable.
If you went to school to Columbia University to become this wonderful journalist that you are, and you're superior to us because you got this Yale thing going on or just whatever thing going on, Brown thing going on, and we went to Glendale Community College or whatever university and college we went to, I'm sorry.
Now it's on you.
Rather than bullying all of America and dividing them, how about you get held accountable a little bit?
And then let's see how you guys respond to it.
But aren't they being held accountable?
Their ratings are going down and down and down.
America's waking up.
They're listening to them more and more.
People, CNN is used as a derogatory term now online.
It's like, oh, you must watch CNN if you think that.
So I think in a certain way, the market is talking.
The market, the information market is speaking.
And I mean, you made a lot of great points about, but I will disagree, man.
I think the Atlantic, having that article is a step in the right direction.
I agree.
The people that listen in the Atlantic have never felt that.
There is a however, though.
There's a big however, though.
If you do it one time, just like, let me give you an example of what I mean by this.
You know how sometimes a CNN will do an article to kind of get the Republicans to be like, oh, I agree.
So then they bring membership in, or like some of these guys like Bill Maher did at one time, and Republicans are like, I agree with Bill Maher.
Finally.
But Bill Maher's continues to be a good idea.
So if Atlantic goes and stays in the middle and actually reports, good for you.
You make money.
You deserve to make money.
But if they do this one-hit piece to get attention there, even if, Pat, it's a step in the right direction.
Because there's a, we both know and it's on both sides that you could say something, but if they don't hear it from their side, they don't believe it.
It's not what you say, it's who says it.
Yes.
That's what you're talking about.
So we are not living in a simultaneous reality.
We're living in two different realities based on ideology.
And then even if for one second there's a crossover, that's a step in the right direction.
For one second that they say, hey, look, there's an autonomous regime that has the quote-unquote global cabal that everybody keeps making fun of.
No, no, it exists and it's real.
And these guys want to take over.
That's a step in the right direction.
That's a step for people.
I don't disagree, by the way.
I'm totally with you.
However, the only thing I would say is, let's see how they follow up the next month, the next three months, six months, 12 months.
If they go in that direction, then good.
Think about it from this angle.
Okay, think about it from this angle.
Think about what happened with Forbes.
I've been a die-hard Forbes guy for 20 years.
Go read a Forbes article today.
It's like, wait a minute, you're Chinese-owned.
95%.
I know, 95%.
So you think you're reading about the great ideas of capitalism.
I don't touch Forbes.
I don't touch 90% of these business magazines because it's ran by journalists who hate capitalism.
So if these guys go back to certain set of values, like let's just say Atlantic says, hey, folks, let's have a meeting.
Okay, let's just say this is caused by a meeting that was held.
You guys had a standout, you know, a meeting yesterday, right on Monday.
Let's say there's a meeting and they say, somebody comes out and says, hey, guys, let's unify.
What's the greatest country in the world?
Well, I don't know.
We can speculate that.
Denmark, you got this and you got Sweden.
You got all this bullshit.
No, no, no.
Listen, let's not get it twisted.
America is the greatest country in the world.
I love that video you did in your car, by the way.
Which one?
About if America was a restaurant.
If America was a restaurant.
That's right.
Everybody wants to come to restaurants.
So what I'm saying to you is if that kind of a meeting took place with somebody at Atlantic, ooh, we need more of those.
Well, there's two things that happened also in the last half hour, and actually really just happened at this table that I really hope the audience understands.
You're talking about narrative, all right?
And you're talking about common enemy and the power of a common enemy and the power of a narrative.
The narrative forever has been in our media that the common enemy in America is America.
And it's our past.
And it's on their side.
No, it's our past.
No justice on stolen land.
How many times have you heard there can be no justice on stolen land?
As if every land, every nation ever created wasn't created through some sort of warfare.
As if even the Native Americans themselves didn't shade borders based on intertribal warfare.
This was always Lenape land.
They never fought against the Cherokee.
Are you nuts?
Conflict over resources was the entire source of evolution.
Genghis Khan, Mongolia.
What are we talking about here?
Every single nation has been founded through conflict and acquisition.
So it's the only country that's not.
The 1612 Project, whatever it is.
Yeah, the idea that everything that's ever happened in this country is by its point illegitimate.
It's nonsense on its base point.
And unless we have somebody from that side point that out, that narrative is going to be pervasive.
And I guess I'm freaking to you.
That narrative is not coming from America.
You know what it's like?
But bring it down to the average person, right?
Bring it down to the average person.
So let's just say He and I are brothers, hypothetically.
We're brothers, and we're two years apart, okay?
We grew up, we're best friends.
Of course, we fought, we've done all that other stuff.
But if I cling on what he did at 16 years old when he took my video game away and I keep reminding them at 42 years old, well, listen, man, you screwed up as well.
Let's chill out.
Everybody here makes mistakes.
So there is a community.
It's even worse than that, Pat.
It's somebody who looked like him stole your phone 16 years ago.
And you blame him.
And you're holding him accountable.
Yeah, no question about it.
You make a very good point.
Or it's somebody's great, great-grandfather that looked like him that did it.
Exactly.
Not the six-year-old kids.
I'm not the artist all the time.
Lucian Truscott.
It's the guy I sat down with Lucian Truscott.
Your best friend.
Can you pull up the interview Lucian Truscott for people to see the first 30 seconds?
I sit down with this guy.
He's the great-great-grandson of Thomas Jefferson.
He's a writer.
He's won all these awards all over the place.
He agreed to do an interview with me, which I couldn't believe he agreed to do the interview because he's on the complete chapter, Lucian Truscott, Bed David.
Yeah.
The third.
Right there.
Go Truscott.
I just spelled it for you.
Unvaluitament.
Look, the first one pops up.
Okay, type that and then see how this thing goes because he starts bitching about Thomas Jefferson.
And the, is that, is the internet just going real slow?
Okay, got it.
We're being monitored.
I don't know what's going on.
Anyway, so this is the exact example, what you're talking about, a grandfather sixth generation past on what he did.
And they're sitting there saying, because of that, we need to remove his statue and put a different place.
It's the first grandson wanted his statue removed.
This guy is the great, great, great, great grandson of Thomas Jefferson.
If you want to make that bigger and hopefully...
Like the entire reason that we're talking...
Raise audio.
Raise audio and go back.
Can you?
Do we have audio or no?
David?
Yes.
Do we have audio?
Yep.
Press play.
Can you press play on the bottom left?
It's loaded.
Even when you press, it doesn't do anything?
Okay, we'll wait for this to come up.
So, yeah, I agree.
This goes back to the constant past of, but you understand, we're not the...
Do you know why, Pat?
It's plain, but there's no audio there.
Because the past can't defend itself.
They keep going after the past because the past can't defend itself.
It's an easy target.
You find something wrong.
There's nobody that would ever defend slavery, ever.
Nobody in their right mind would defend slavery.
So you take somebody who did something egregious and you attack them and they can't defend themselves.
But here's the part.
Here's what I think needs to happen with that, okay?
I think those people that are trying to defend themselves need to take a different angle.
I'll give you an idea.
Are you serious?
Okay, if you want to go back and play this, just go back a few.
Thomas Jefferson may have written the words, all men are created equal, but he really didn't do very much in his life to make that happen.
You're saying to tear down Jefferson and replace it with Harriet Tubman?
I didn't say that.
Don't put words in my mouth.
Who would you say the best president we've had in the last hundred years?
Are you serious?
I love this country and it changed my life.
And I'm asking you.
These are ridiculous questions.
This is getting here.
You ask me the great president.
You can't answer that, can you?
Yeah, I did.
Say it.
What is it?
Ask the guy you're in the studio with.
I'm interviewing you, not them.
I didn't ask you why you think anything.
I know who wrote the Declaration of Independence.
I don't disagree with you on a lot of things.
I'm an immigrant.
So am I. Were you born here?
No, I wasn't.
I don't answer questions like this.
You shouldn't have agreed to this.
Asking me who's my favorite.
Because your favorite president said Thomas Jefferson represents what's best in America.
That's why.
What a fucking asshole.
You know, you know, he said, you know, the whole time I had a quote of all the presidents, what good they said about Jefferson.
I said, who's your favorite president?
It says Barack Obama.
I said, that's what Barack Obama said about Jefferson.
So the guy that's your greatest president agrees that Jefferson needs to stay there.
This is what makes this beautiful country look ugly when a guy like this who's been able to leverage a last name like that and got a job in journalism because he's a Jefferson guy and he bashes the guy that gave him that privilege.
Sir, if you're him and you have his philosophy, it's kind of like the bow thing.
You could say, yes, you know, he's my great-great-grandfather who was a founder of this country.
He's one of the greatest people to ever live in America.
Yes, he did some wrongs, and yes, we could address that.
We're not going to sweep that under the rug, but like make you know, make no mistake.
When people call you names, what happens is they've abandoned the intellectual argument.
Do you notice that?
Like when you can see them abandoning, abandoning, then, well, you're a nasty man.
You're an effing asshole.
Yeah, I mean, it's like, it's nonsense.
I mean, I love when people do that because immediately it's over.
You just, you know, we're no longer talking.
Now we're just having a street brawl.
By the way, did you see what Trump said?
Did you guys hear about what Trump said the other day?
Can you play that video right there?
This is Adam's favorite story.
Adam, I don't want to go today without having the story because I know you really like the story.
So let me read to you guys what happened.
So I know Trump claims he doesn't drink, but he sounded even more like a drunk uncle at a wedding tonight than usual.
Here he calls General Milley an F an idiot.
Whose tweet is that, by the way?
Who's that by?
You put the tweet by?
Oh, this is the guy, Ron, whoever it is.
Okay, make this bigger.
And let's play this.
Here's what Trump said.
Watch this.
We have $60, $70 million plans.
You mean you think it's cheaper to leave it there so they can have it than it is to fill it up with a half a tank of gas and fly it into Pakistan or fly it back to our country.
Yes, sir, we think it's cheaper, sir.
That's when I realized he was a fucking idiot.
I'm sorry.
He doesn't need to be president again.
He needs his own show.
He needs his show.
By the way, go back.
You missed the first 10 seconds.
Gold.
$9 million.
We have $670 million points.
You mean you think it's cheaper to leave it there so they can have it than it is to fill it up with a half a tank of gas and fly it into Pakistan or fly it back to Russia.
I mean, they heard a whole thing.
Yes, sir, we think it's cheaper.
So what do you think about what he said there?
I mean, the comedy show, the half a tank of gas, and you get it over to Pakistan.
He could have been a comedian.
Well, the first part of the clip that is cut off is he talks about we had just had brand new $50 million airplanes, $26 million helicopters.
I'll make this quick point.
The biggest problem with Trump is the policy versus the persona.
He's absolutely freaking right about the policy.
We've left billions and billions of armory and everything, then planes and helicopters and everything for our enemy.
He has an absolute credible point there.
And then the persona, the fucking asshole, like that's where he loses.
The biggest problem with the voter is they see emotion more than they see logic.
So the same problem is on the other end as well when it comes to the case.
Well, it's the same problem that we have with gold.
The biggest problem with the average American is they'd rather have the cash and the gold.
They'd rather have the picture of the rock with the laser eyes.
Exactly.
Sometimes do you miss him?
Because think about it.
We don't know where Biden is.
We never see him.
There's no press conference.
This guy was always press conference doesn't think we should have anyone over 70.
Remember they would attack him?
He would give a talk about something and they would ask him about some other unrelated thing.
You'd watch him defend.
It was kind of like a lot of entertainment.
Now we don't even see, we don't even have any press conference.
Not just him, dude.
Like, you know, Jim Acosta thought he was an elected official having a debate with Kelly McEnany or what's her name?
And now Kelly ain't no.
Imagine Caitlin.
Caitlin McEnany.
Oh, God.
Now Jen Saki comes out and says, all the rioting is because of the pandemic.
And people are like, oh, well, press conference pandemic for him.
I mean, if you were a press guy that was on White House duty, imagine how boring this is.
I mean, you go in there, here's the notes for the day.
Okay, well, we just shared some of the bars about it.
Back when he was in there, it was like attack mode, you know, all the time.
We just circulated a stat that Biden gets more negative press than Trump did.
No way, no way.
No way.
That's not my freaking opinion.
That was the stat that was going on.
I'm not disagreeing with you.
I'm just saying, like, I remember on the Bloomberg, every single day, it was just like does this.
This goes back to Gerard's point, to Pat's point.
Right now, the common anti-American America is the people across the aisle from you.
That guy.
It should be a China.
It should be these authoritarian regimes.
But instead, it's either red or blue.
Which side are you on?
But this is what he did.
What he did is he pulled the veil out from the elites.
He's not talking about the angry parent at the student conference, like Merrick Garland's going after parents who don't want their kids being taught critical theory.
Now, they're on terrorist watch lists with the FBI.
True thing, by the way, Merrick Garland, Google it.
He's going after General Milley.
Everything he ever did was establish media.
General Milley.
Elites, elites, elites, elites.
So that's why.
General Milley is an elite because he's a general.
You're saying?
General Milley is an elite?
Yeah, I think that that's pretty much.
I'm saying that, okay, that's what elite guy has for the guy who's not in the middle of the year.
I think of elites.
I'm thinking tech gazillion.
I think maybe redefine swamp is more Millie than elite.
Oh, he's elite.
But elite, in his eyes, is billionaires.
My higher.
Much harder of the world.
Without higher than what?
My higher.
Without knowing anything about guarantee, you're saying access.
You're saying power.
Beyond money.
So Millie is curated bloodline.
I mean, beyond Zuckerberg is the top pawn.
I mean, you know, we're talking, you know, it's, you know.
Oh, curated bloodline.
Go on with that.
No, no, no, no.
That's for, you know, off the air.
But that's guys that have a lot of money or something, it's beyond money.
It's power.
It's control.
It's not.
The general, you see these guys occasionally go just, they're gone.
You know what I mean?
There's a new, you know, there's a new guy.
Is there one general that Trump actually gets along with now?
Mattis is out.
Well, look.
General Kelly's out.
Guys, Millie's out.
Why does Trump not get along with any U.S. general to ask that question?
You talk about Garland.
Okay, there's a great clip you can find on YouTube where Hunter Biden paints pictures and they're selling for record prices higher than a Picasso sketch was sold.
And they asked Merrick Garland, don't you see a problem with this?
And he's like, no, I don't see any problem.
What's the big deal?
What's the big deal?
Anonymous buyer.
I support arts.
I mean, come on.
So you see this thing.
I mean, imagine if Eric Trump was painting pictures and people were buying them for a million dollars and he was getting the money and this is all business.
But look, you guys forget about it.
$3 billion deals in the Ukraine for the big guys.
Right.
All these things that you're talking about.
My hope for people, back to your talk about, you're talking about meritocracy.
You like this country because you were able to know the rules and get to work and use your creative intellect and ability to build something.
Okay.
So my hope for everybody listening is that you can start writing gigantic income tax checks because that's when the light switch goes off and your thinking changes from being all distracted about news stories.
And I know all the people, like I, Forbes, I'm friends with them up the road.
Like I know all these people and I know how stories get produced.
And I know what when they say Zucker knew about, I know the boom, that's not going on the rag today.
Nice effort.
You're out of here.
I know journalists make 50 grand and resent all the people that they write about.
Okay, so I know all this stuff.
But my hope is when you're listening, you can get involved with your pen, okay, writing the check and saying, what do they do with all this money?
Because your thinking changes.
And it's not a political thing, but you start thinking the way you're thinking of like, wait a minute, this is the best restaurant.
You know why I know this?
I've been to the other restaurants, you know, and there's rats in there.
And it's really bad, you know, and this is why this is the best.
And everything changes when you achieve some success because your whole perception switches from all this noise to what's real.
I think that's a great way to finish up.
We got two minutes here.
Very good point you just made there.
Go see what it feels like to pay a lot of taxes.
And then you're going to say, what the hell am I paying the taxes for?
And it's just as simple as, I remember one time, Jose Andres, God bless us.
So one of my good friends, great guy with Peruvian, he would cook very good for us on Sundays.
He's in LA and I'm pitching him on Texas.
And he comes to Texas.
We get in the car.
And I go in a tollway, the express lane, and it says $3.
And he says, wow, we don't have this in California.
You pay $3 to go in this lane?
I said, exactly.
I said, here's how taxes should work.
You pay taxes for what you use.
I don't have to go in the express lane.
But in California, I have to pay for taxes on things I never use.
This is why I like Texas like Texas.
And he said, I never thought about it that way before.
So it goes back to pay a little tax and see what happens.
By the way, a couple things to wrap up with.
This is exactly why, for me, when you say some people get pushed back and they're like, oh, I don't know, we have to apologize.
We have to apologize.
We've had this conversation many times before.
Mafia States America has been a big kid.
Did we think this many thousands of people were going to order this in the first three, four days?
No.
We had a number for the first month, and that was not the case.
It was record-breaking.
The commentary is unfreaking believable.
Here's just some of the comments of people saying on Twitter, on YouTube, on Facebook, all over the place.
Just this sit-down alone was gangster.
Thanks to all a tremendous job.
Patrick with the University of Amazon, sir.
Maybe the best interview of all time.
Watching it all over again.
It's amazing.
Four episodes and totally worth the wait.
Well done, PBD.
Congratulations.
Can you go to the next slide?
Because I want it to be more about the show.
The Godfather just took a knee.
There's a new boss in town.
Mafia States America will go down in history as one of the three greatest pieces of work concerning the largest criminal enterprise in a nation's history.
Aside from the government, way to go, Valutaman, bringing these two men together and mayor in this fashion, puts to sleep every movie, book, podcast, and interview prior.
Best of luck on your next project because this will be hard to top.
In closing, let's go.
As facts.
Wow, what an amazing sit-down by George Cortez.
I could watch this a million times over and never be tired of it.
Would love to see a second sit down answering more questions, mob-related, like JFK, the mob, wive series, et cetera, et cetera.
Keep going to the next one.
This beats Hollywood.
Anything out of Hollywood, Joseph Cifuentes, Lex Holistic Investing.
Wow, I knew this was coming, but you went the extra mile.
Amazing content, as always.
Great job.
It's worth every penny.
Marius Cernas, best way to spend $40.
Beautiful projects.
All the right questions.
Ask so many names shared to confirm that both guys were a part of the life at the time.
Anyways, there's like hundreds of comments on this, and emails are coming to left and right.
And a bunch of people have already binge watched and they're sending us messages.
They can go to mafiastatesamerica right now.com to order the 10 episodes.
I will say one thing that this made me think about.
We talked to each other and we said, if we hit this many numbers of subscribers to the show that watch it, we're going to do our first feature film, right?
You know the number.
We've talked about it, right?
The point I want to make to everybody that's watching is: if you want to see somebody else get in the marketplace to compete against mainstream media, support platforms like this.
It doesn't have to be us.
If there's somebody else that you see that's willing to fight it, go support them.
Support by buying a product, subscribing.
There's a lot of great platforms out there as well.
But if you like what we're doing with Valutaine, you'd like to see us doing a couple of feature films where it's the heroes, the capitalist, the heroes, the entrepreneur, the heroes, any of those stories that we take to the next level.
We're excited for all of you guys that have supported us from day one.
But now we're kind of going to the next part because now things cost money.
You know what's funny?
People said, well, your interview with Sammy de Bolgravano that got 13 million views, that probably made you half a million dollars.
So I'm going to Creative Studios.
I don't think people fully understand how you're doing.
You don't have to do that.
No, no, but let me tell you what I want to show him.
I'm going to Creative Studios right now, and I want to show this.
Check this out.
How much money you think Sammy Gravano's interview made?
I actually want you to guess.
How much money is on YouTube?
This is 13 million views from YouTube.
I want you to look at this.
What do you think that's made in its lifetime?
What do you think that's made in its lifetime?
$100,000.
How much?
$100,000.
$100,000.
Okay, you ready?
Here you go.
Since published $100,000.
$250,000.
You said $250,000.
What do you think 13 million views has made?
$250,000?
No clue.
Here's how much 13,096,000 views has made on Sammy Gravano.
Can you say the number?
Am I looking at this correctly?
That's $11,500?
That's a lifetime.
$11,500 is a Sammy Gravano interview, $13 million, because YouTube doesn't pay AdSense and half the stuff he talks about.
And that's before they nerfed you.
So, kids, what Pat's telling you is if you want to be an influencer when you grow up, you better have to.
Save your money.
Have a day job.
Or don't interview mobsters because it's all right.
You've just been trading crypto all day.
Anyways, having said that, very excited for all the people that support it.
E.B., I got to tell you, I really enjoyed this, you being on.
Great conversations.
We're looking forward to having you back on here one of these days.
I will tell you when you are walking out with that money, make sure Caroline's escorting you out to be safe.
I don't think anyone wants it.
I mean, if I had an NFT, maybe I'd be in trouble.
But with this, no problem.
By the way, did you even get the cash on the table or no?
Did people see the cash and everything that's on the table?
For those of you guys that are planning on having a big 2022, we are doing a business workshop that will happen December 20th.
It's a full-day event that I'll be hosting.
If you haven't registered for that, let's put the link below as well in the comment section for people to participate in that.
Also, Pat, so people know in the last Instagram update, so people that don't know talking about access to this and how they do their AdSense as well, in the last Instagram update, whether you know it or not, whether you agree to it or not, they switched in your settings to you can't see what they determine as quote-unquote sensitive content.
So if you haven't seen our content lately, if you haven't been notified and you don't know why, go into your settings and make sure that you change your content setting from don't show me sensitive content to show me sensitive content.
You have to manually go into your settings on Instagram and YouTube and change that from don't show me sensitive content to show me sensitive content.
Another example of the land of the free.
Land of the free.
Yeah.
But you know, Pat, in closing, too, I mean, I think what we, one thing we figured out was that, you know, the time to buy your insurance is when nobody wants it.
And if people can kind of think about that with everything they do, right?
I mean, if everybody wants something, maybe you sell it.
If nobody wants something, maybe you buy it.
I mean, there's a lot to be made in this opposite thinking.
That's not the argument.
You don't go extreme, right?
You don't go extreme.
Like, you don't get out of crypto.
It's not.
Come on, don't be ridiculous.
But, you know, but you maybe you tweak and you adjust when things are like that.
And then if everybody's panicked, then you say, okay, you can buy this.
