Dave Smith and Robbie Bernstein dissect the Libertarian Party's internal coup, alleging data theft by a corrupt leadership faction ousted after whistleblower Karen Ann Harlos exposed their contradictions. They critique the Federal Reserve's inflationary money printing and condemn Critical Race Theory as damaging collectivist propaganda that instills victimhood rather than empowering individual effort through positive mental attitudes. Ultimately, the episode argues that true liberty requires rejecting systemic blame narratives and addressing economic realities instead of political distractions. [Automatically generated summary]
Transcriber: nvidia/parakeet-tdt-0.6b-v2, sat-12l-sm, and large-v3-turbo
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Government Too Big00:15:00
Fill her up.
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What's up, everybody?
Welcome to a brand new episode of Part of the Problem.
I'm Dave Smith.
He is Robbie the Fire Bernstein.
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We're glad that you're joining us.
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So Robbie Bernstein's neck of the woods.
We'll see you there.
So there's been like some major drama going down in the Libertarian Party.
And I know that I did an episode on this and then me and you discussed it a little bit in the last one, but it's really...
It got more dramatic?
Oh, yeah.
Oh, yeah.
Today's been probably the most dramatic.
Because my circle has been fighting about plank designs.
Yeah.
Well, that's been happening too.
There's been a lot, a lot of stuff going on.
Yeah, but so today, I mean, this is it's, I start by saying this, you know, it's, it's when we first really started this experiment in the Libertarian Party, and we were very upfront with what we were doing.
Like this is, we were like, we're taking over this party.
Like we're here to come and turn this thing into a force.
And it really was never about saying that like we're, you know, like one caucus is taking over the party.
I mean, the idea was that the Mises caucus was taking over the party for the Liberty Movement, you know, like that it was like, we are going to have the good, honest libertarians take over this party and make it a true force.
And there were a lot of people who were inspired by this, like tremendous amount of people, huge numbers.
And it's not just the numbers that we recruited into the party, but the fact is that our people were, and this is just beyond dispute at this point.
Because at the beginning, you know, what they would say, like when the Mises caucus first started and when I first joined the party and people started flooding in, people were like, the kind of establishment libertarian party types were their take on us was like, they go, this is a fad.
These guys don't really care.
They're here because like they follow a podcaster and this is going to kind of be the cool thing for the moment, but they don't really care about like doing the work.
They're not showing up to meetings.
They're not collecting signatures.
They're not running candidates.
They're not becoming delegates.
They're not going to do all that.
This was the knock on the Mises caucus in the beginning.
They totally misunderstood us.
They just didn't understand what it, you know, it's like, I understand, I could, I do understand from the outside looking in how you could think that was what my people represented.
Like, I don't know.
You know, these are a couple of comedians on their podcast and they listen to their podcast.
I don't know how serious are these people going to be.
They didn't understand the relationship that I have with my listeners.
They didn't understand how much we really believe in this shit, you know?
Also, our audience is surprisingly smart and affluent.
Yes.
Surprisingly so.
I would have thought that we had more of a, and this might be more my sensibilities than yours, but I would have thought we would attract more of a freak show.
But you show up and it's a lot of very smart professionals, sometimes in with like some pretty serious credentials.
Well, it's a weird thing, right?
Because you're like, oh, okay.
Well, our audience are people.
It's like, it's almost like shocking that we've been able to build up such a big audience.
Because like, if you had just started at the beginning, it'd be like, okay, how big of an audience is there for people who really want to discuss monetary policy with some dick jokes sprinkled in?
You'd be like, probably not that many.
But turns out there's a ton.
Turns out there's a ton of people just like me and you who really like both of those, you know?
And so, yeah, the crowd that we attract is like, there's some really serious people.
And Michael Heiss is like a seriously inspirational figure.
And he really, I mean, he's like had, he has true leadership qualities.
And so all these people kind of thought, oh, this is a fad.
They'll do this for six months.
They won't really want to put in the work.
And then we just put in more work and more work and more work.
And it's just, it's gone so well.
I mean, you know, it's just been, it's been incredible.
And there are, let me see, there are some, like, I think with any organization, especially a political organization, there are some people who just are not in it for the right reasons, you know, who are like want to seek power.
And then there's just some like weirdos and, you know, the loser brigade type people who are like just this, these, this weird little group of woke libertarians, you know, but they're, they're largely kind of irrelevant.
And we just, we just beat them down intellectually.
They want liberty, but they want to keep the left's whining.
They want a very specific libertarian movement that includes the whininess of the left, but freedom outside of that.
Yeah, right.
But also they seem to be weirdly more concerned with the whiny leftist stuff than with freedom.
Like nothing really, you know, like when you see people in the woke loser brigade and the libertarian party who, I mean, I'm not exaggerating, got more outraged by racist tweets.
And half the times it's just racist tweets, you know what I mean?
Or half the time it was just jokes that they just don't have a sense of humor about.
But they get more outraged about that than lockdowns.
And when it comes to lockdowns, they'll kind of be like, yeah, well, look, I'm not for forced lockdowns, but you know, it was the worst pandemic in 100 years.
So you kind of had to do what you had to do.
It's like, oh, no, you are just, you may claim to believe in liberty, but like you are just operating within the approved corporate cathedral opinion.
You know, like I'm not going to step too far out of the allowable opinion range.
And then so there's some people like that.
But then there's also a lot of other people who are, and they're, they far outnumber the first two groups that I, that I mentioned, who are just like decent, good libertarians, but don't exactly have our sensibilities.
So they don't like the dick jokes sprinkled in with their monetary policy, which like, that's fine.
You know what I mean?
How could I judge them for that?
They don't get the kind of shit posting online.
Like they look at that, they're like, I don't exactly understand it.
They don't get, you know what I mean?
Like a lot of the like that whole, it's just not their style.
And a lot of times I think those guys were somewhat influenced by the other two groups.
And they would kind of look at the, you know, the people at the top, the kind of, you know, established power brokers within the Libertarian Party.
And those people would say, these people are real bad news and they're really off.
And they're here to take over the party.
And you've been here longer than them.
They have no right to take this over from you.
And they'd be like, yeah, I don't like that.
I don't like that these guys are saying we want to take over the party.
And in fact, Karen Ann Harlos, who I'll talk about more throughout the show, she argued with me about using the takeover rhetoric.
And she said, don't use that term.
She said, you're going to turn off more people within the Libertarian Party who are like good people, not the people who you hate rightfully, you know, but like just regular good libertarians who are like, hey, this is kind of, we've been working in this party for a long time.
Like, what do you mean you're taking it over from me?
Well, like, you know, and, and I kind of got her point.
I didn't completely agree with her, but I got her point.
You know, the lady with the pink hair and the glasses.
Yeah, she's awesome.
Love her.
And we're going to talk more about her on the show, but I got her point.
And I've tried to make efforts over the last, you know, like five, six months or something like that to really be like, because I mean it.
It's not like I'm being phony, but it's like, hey, you person in that group, like good libertarian who's just been here putting in work, maybe doesn't have the same sensibilities as me.
It's like, yeah, no, you're not my enemy.
I want to take this thing over to make it something great that you will be proud of.
Like, I think you deserve more for the work you've put in.
But though, for that group of people, I think it was easy to be, you know, influenced by some of the other more nefarious groups.
And certainly at times, maybe, you know, just people in the Mises caucus didn't do their best at reaching those guys.
And sometimes whiny people are just really good at whining.
And then it starts to feel incredible because they rehearsed it so much.
But, you know, you could see where some of those people, right?
In the group of honest people who just don't share our sensibilities.
And then there's someone in the woke crowd who's like, these are a bunch of racist Nazis.
That's what they mean by takeover, you know?
And then they'd see that and be like, whoa, okay, maybe.
You know, it's almost like the same sense, like when, you know, when we're to get the Jews out of the party.
Yeah, right.
Yeah.
That's going to take a long time to get the Jews out of a libertarian party.
Let me tell you that.
You're better luck trying to get the autistic people out.
Neither's going to happen.
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All right, let's get back into the show.
You know, in the same sense where like when someone's like publicly accused of some Me Too shit, you know, someone's, it's always kind of in the back of your mind.
Like you're like, oh, maybe they did it.
I mean, I don't know.
Maybe they are.
And I think it was partly like that.
Like, I think these guys are secret Nazis.
You know, I mean, I don't know either way.
But you put it out there and now it kind of exists in reality for someone to disprove.
Yes, exactly.
And people do this and they understand that.
And that's why these accusations are thrown out so often because they are effective, unfortunately.
But to those people, you know, like my argument with Karen Ann Harlow's when she was saying don't use the takeover language was I was like, well, look, what's the calculation here?
I'm using language to inspire people to join something because I think we can do something great.
And I'll tell you, a whole lot of people that I brought into the party, it's specifically because I was using this language and I was saying, no, we're here to change this whole thing to make it what we want this party to be.
Now, I think it was always clear.
It's a ridiculous to even have to pretend.
But obviously, whenever we talked about that, what we meant was obvious.
There's no question of like, did we meet?
We weren't going to show up with, you know, AK-47s.
Like, the idea was we're going to recruit more people.
We're going to push our candidates and we're going to win.
And we're going to win state by state, which is what we've been doing.
And my argument to Karen and Harlos was like, well, look, if you're saying I'm using this language that is inspiring tons of people to join the party, but it's also hurting the feelings of some people who are already in the party.
Well, okay, those people need to get over it.
It's just hurt feelings.
You're already here.
You're already a good libertarian.
And I'm bringing all these new people in.
So you should be grown up enough to go, eh?
Okay, that's a fair trade-off.
You know, if something like rubs me the wrong way, but it brings a ton of new people in, like, okay, that's, that's reasonable.
But I think what I would also say to those people is like, and I'll say this to a lot to any decent person in the Libertarian Party.
Maybe you guys want to ask yourself why that resonated so much.
Why, why did the idea of taking over the Libertarian Party resonate with so many libertarians?
Doesn't that say something about the party?
That like maybe you could be doing a better job if libertarians themselves, like if you guys were doing such a great job, why would, you know, if you, if you, if libertarians just loved what the Libertarian Party was doing, why would anyone be attracted to the message of a takeover, let alone large numbers of people?
You know, it's like the same thing when people in the in the corporate press are like, oh my God, people are believing all this fake news online, you know?
Well, like, if you guys had such a great track record, why would you be worried about people putting out fake news, right?
Like, if CNN had just been getting everything right for the last 20 years, then everyone would know they're the most reliable news source.
I don't have to worry about what some random guy on the internet.
Why am I listening to him?
I'm listening to CNN where you get the facts.
It's just, oh, yeah, the reason why people are listening to some random guy on the internet are because you guys have gotten everything wrong and you lie through your fucking teeth.
Party Takeover Scandal00:15:36
I think that for anyone, what's happened over the last two weeks should really demonstrate to people.
It's like, oh, yeah, this is why.
This is why this language was so attractive to so many people.
The corruption within a few members of the Libertarian Party is just like astonishing.
So as I was saying for a while, and this is kind of the story.
Michael Hayes was kind of breaking this down when he was on the podcast, but basically what's happened here is that our mission is damn near accomplished.
I mean, it's not going to be accomplished till Reno next year, but it's damn near accomplished.
At this point, the Mises caucus probably is over 50% of the party.
And we still got more state conventions coming up.
And we're going to do really well.
And our numbers keep growing and growing.
This thing is, and no one's going anywhere.
Like our people are not leaving, you know?
And I think that's why so much of this stuff is happening now because they kind of saw the writing on the wall.
That's why there was this huge stand in Pennsylvania where they invoked that bylaw that hasn't been used in 30 years to make sure the new people couldn't vote.
Because they were like, yeah, if we lose, it's just going to be obvious at this point.
If we lose Pennsylvania, like this whole thing is going in this new direction.
And there's people in these positions in the Libertarian Party who, you know, Michael Malice was breaking this down on Tim Poole's show the other day, who are like, they, this is all they have.
You know, like for me and you, right?
Like the, the, we have, you know, I have big plans with the Libertarian Party, but if that all fell apart, if I lost, you know, I'm still like, oh, I have a really successful podcast.
I have a really successful comedy podcast.
I have a stand-up career.
I have a family.
You know, like there's, it's not like my whole value is this.
You're dealing with people who have nothing except the fact that they are, you know, they're the treasurer for the, you know, Boulder County, you know, Libertarian Party.
Like that is their thing in life.
And when you threaten that, when people have it, they'll do real crazy shit to keep it.
So the whole story, as you guys know, from the beginning, is, I mean, there was straight up just an attempted coup, straight up, like, like property crimes were committed and really serious ones, very serious ones.
The whole thing fell apart.
They like, they took this crazy stab and it all fell apart.
They returned everything back to the rightful New Hampshire party.
They opened themselves up to a lot of liability because the property was still stolen.
You know, even after you return stolen property, you're not completely off the hook legally.
So we'll see what happens there.
Now, thousands of members' data was sent over to an organization that did not have the rights to have it.
Was that data copied?
Who knows?
You know what I mean?
Like it's anyway, it's a whole ugly thing.
So since the whole thing has been falling apart, today, a whole different, you know, a whole bunch of shit happened.
So the chair resigned.
He put out a letter of his resignation.
So Joe Bishop Henchman, who was the chair of the party, blocked me on Twitter earlier today, by the way.
I was just, I mean, I invited him on the show several times.
I was like, hey, dude, you want to come on?
Explain your point of view.
You know, he didn't want to do that.
He's learned from chairs in the past.
You don't come on part of a problem.
It's not going to go good for you.
But so he resigned or put out a letter of resignation.
I think he's supposed to officially resign at the meeting that they're having right now as we're recording this.
So I'll keep you, you know, I'll let you know updates on the next episode or whatever.
But that's what's going on right now.
So he resigned rather than.
Like after my unsuccessful efforts of using status tactics within the Freedom Party that's against status tactics, I've realized I neither feel comfortable in this Libertarian Party, nor am I that good as being a stadius.
So status.
It's more despicable than that.
I wish he had the guts or the honesty, the integrity to say that.
Oh, he said he can't be a part of a movement that's turning so hard.
Oh, what a lame wad.
Yep.
Can't be a part of a movement, but with these horrible people.
Literally, he just got called out.
But here's the thing is that they're all just trying to bail.
So they don't have to answer any questions about this shit.
So not only did he resign, then like a bunch of other people.
So the biggest caucus that's opposed the Mises caucus was the Pragmatist Caucus.
A bunch of their people resigned.
The praggies.
Yes.
And then the pragmatist caucus.
A bunch of prags.
Yeah.
Yeah.
Right.
Well, then the pragmatist caucus dissolved.
They're over.
They don't exist anymore.
They're gone.
Like they're literally there.
I mean, I've never seen anything like it before.
It's like one of those movies from like the 80s, like in 80s, like stockbroker firm.
And the feds are coming in and they're shredding files.
Like they were just like, I resign, I resign, I resign, burn the whole thing.
None of this is here.
Don't look into it.
That's that.
So everybody, the chair in New Hampshire who led the coup, she resigned.
The chair of the party, he resigned.
A bunch of other people resigned.
A whole bunch of people from the loser brigade types on Twitter are all joining the Green Party.
They're leaving.
Like it's all happening.
They're just handing it.
You know, now we'll see what comes next because I have a feeling they've got a couple more tricks up their sleeves.
Like I expect things to get really, really ugly.
But the first thing they did is on the way out, the chair and this other LNC member who's resigning also, they passed a motion to remove Karen Ann Harlos, who has been the one who was the whistleblower on this whole thing, who like she did everything to expose this.
These motherfuckers tried to steal property, membership data, and a state party while purging thousands of dues paying members out of the party and got busted because she, this one woman, by the way, who's not a Mises caucus person, the one who was arguing with me about the takeover language, the one who argued with me about my, has, has publicly criticized my immigration position, has publicly criticized me for like having Nick Fuentes on the podcast.
Like she's not like, you know, like she doesn't agree with us on everything.
She's not a Mises caucus person, but she is a decent person and a real libertarian and someone who has integrity.
And she was like, I'm not going to sit by while you guys violate every principle that we stand for.
No.
So she on her own, because the LNC wouldn't do anything.
They, you know, they'll do this thing like, yes, we should have an investigation and let's have 16 more meetings about the investigation.
And then the chairman was doing these things.
Like they were like, well, this new party has all of the property of the rightful party.
And he'd be like, well, we have to remain neutral.
And they're like, but you wrote the letter that created this new party.
And he'd be like, that was not my intention.
And they're like, well, then give the stuff back.
And he'd be like, well, I'm remaining neutral.
I mean, it was like unbelievable, the levels of just blatant corruption.
Right.
And she's a real prague.
So she goes and she interviewed.
Yeah.
He was a real prag about it.
Stop being such a prag.
Freaking prag it.
Anyway, so she, so she goes and she interviews all of the people on recording and put it out publicly.
And this is where it all fell apart.
All of their stories contradicted each other.
And so it was just exposed.
And this is why all of a sudden the resignations start flooding in.
We're out of here.
Because what the chair of the National Party and the chair of the New Hampshire party were saying completely contradicted each other.
So one of them's lying, or quite possibly both of them are lying.
So anyway, so she did all of this tireless work and it looks like they're going to fucking boot her for it.
And it's just, it's, it's really fucked up.
It's so unbelievably like you just just really shitty people.
I don't know how else to say it.
She's a longtime volunteer, right?
Oh, she's worked for the party forever.
She's done all these.
And she does all of this shit that's outside of like her job description.
She's been on the show before.
People probably know.
She was just on Tom Woods' show the other day.
So yeah, they're having the meeting now.
You know, I tried to tweet out a bunch of stuff to get support going for her and for people to email in and stuff like that.
Too late now.
Uh, at this point it's it's going to be done one way or the other before we're done recording this episode.
But it was um I I, it's just, I was even blown away by just how how low like, like morally just zero integrity, zero character, that these people who are busted, who did the wrong thing and then for no other reason except for spite, decided to remove this woman from her post on the way out their last vote that they'll be a part of at this meeting tonight, and then they're just going to resign too.
So you know, and oh and, by the way, the reason the, the justification for removing her, is that she broke decorum because she was calling them all thieves.
If you got to resign because of the actions that you took, I don't think you have the right to say someone broke decorum by because she'd call them all, shining light on what you've done, that you're self-admitting is corrupt by because you're stepping down over it.
But wasn't it?
It was like the perfect little, like woke language for libertarians to use.
It's like oh yeah well, like okay sure, there was this like property theft, but you called us corrupt.
I mean, this is like on.
And then they're saying like, oh she well, she held her own investigation, which was outside of the LNC.
And you're like well yeah, but you guys weren't gonna do it so literally.
If it wasn't for this woman, if it wasn't for her, the party in New Hampshire would have been stolen then.
But no one, no one, you know of those of those group people care about that.
Anyway, I messaged Karen Ann Harlos uh, just earlier, and I I told her I was like, look man, they might do this to you, but this is going to make you a rock star in this movement, because now you're just the badass who literally martyred yourself to save a state affiliate.
Like, it's just you're.
She's going to be just fine.
She's going to come back bigger and better and I promise, despite whatever disagreements she has with me, I will support her in whatever position she runs for in the party and we'll throw all of our MECO energy uh uh, behind her because she, she deserves it.
Now she really does Caw's out there, you go me.
Cocks out for Karen Ann Harlos, but yeah, so that's the rate.
I'm trying to think if there's anything else that i'm like uh, forgetting.
But yeah, it was what?
Just a wild scene to see all these people leaving and and I kind of knew it this for a while that they would not um, that a lot of these people just wouldn't just accept that, like they got beat.
And I think on our side we really just have more integrity than than some of these guys.
Like you know, if we lose, we lose.
I mean like I, i'm very confident we're not going to.
But if they if, if I tried to convince libertarians of some message and and the vast majority of them were like no, we don't agree with you i'd be like, well, I didn't convince people, that's what i'm here to do.
I got to be able to convince people and if I don't do it, I don't do it.
They're like, oh, we weren't able to convince people, so we're gonna burn this thing down on the way out rather than letting the more compelling more, you know charismatic, more articulate people have a shot at doing something with this.
It's, uh it's, it's disgraceful and uh, Joe Bishop Henchman, man, that guy should, he, he should, in any libertarian circles, if he ever tries to like have any type of role or position on any, you know, company, anything like that, he should be forced to ask, answer some questions, some very basic questions about this shit because he's, he's ducking out with his tail between his legs instead of being a man and owning up to what he did.
So, yeah.
Just disgusting.
By the way, she, Karen Ann Harlos, defended Henchman to me when we did that whole kind of debate thing with Michael Heiss over the takeover language and that shit.
She was the one being like, no, listen, he's a good dude and he's trying to do work and he's doing some good things for the party.
And then to see her like just screwed over by this guy.
It's just really.
Who's next in line once he resigns?
Is there a vote for that position or does it automatically go to somebody?
I believe the vice chair takes over temporarily and then the committee is able to like pick somebody.
So we'll see.
We'll see after the resignations and if she's removed and like who's left on the committee and what the numbers are.
The vice chair, I believe, is a pretty good dude.
I don't know that much about him, but we'll see.
We'll see how it all shakes out.
But let me tell you something.
By next year in Reno, they're going to be swarmed.
So this is our moment.
And then going forward, we're going to have the third biggest political party.
This is going to be something unlike anything you guys have ever seen before.
If you didn't go listen to Michael Malis on Tim Pool last night, he was getting people real excited for it.
We're going to do something.
We're going to do something really special with the Libertarian Party.
And these guys, at this point, I kind of hope that they, the toxic ones, I hope a lot of them self-deport.
Go join the Greens or the Democrats or wherever you belong, but it's not.
Now, I'm not saying this about good libertarians who just aren't in the Mises caucus.
That's fine.
You know, I love those people.
But these type of like corrupt people who would steal and lie and cheat and all this shit, you guys, if you guys want to get the fuck out, that's fine.
Is Reno?
What's the event there?
That's the national convention next year.
I believe it's in March of next year.
Oh, let's line up some shows.
I'm going to put together the King's Hooker Party.
Yeah, sure.
We'll make that happen.
Celebrate some freedom.
Absolutely.
We'll make that happen, Rob.
Anyway, so that's more or less the state of things in the Libertarian Party.
It's been kind of wild to see it all happen.
I think there'll be some more corruption coming up.
We'll see what ends up happening, but we'll keep our eyes on it.
I'm just looking now through Twitter to see if there's been any updates on the situation.
I don't know.
As of right now, I guess the meeting just started.
So we'll see.
All right, guys, let's take a second and thank our sponsor for today's show, which is IP Vanish.
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Inflation and Interest Rates00:13:31
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All right, let's get back on the show.
All right.
So moving on, we got a few other, a few other topics in mind to talk about.
There was a, I guess we could talk a little bit of economics real quick.
The Fed pinned interest rates at the same point.
They're not going to raise or lower.
They're not going to raise interest rates at all.
But they did raise their projections for inflation over the next year, which is like, I don't know, there's something kind of funny about that when the Fed's going like, you know, it turns out that printing trillions of dollars may have some type of relationship between that and prices going up.
Yeah.
When your local store, like your local corner store that knows nothing about economics is starting to use the word inflation and you're looking at restaurant menus that are talking inflation.
And now every idiot in the entire country knows this word inflation.
It's pretty hard to run from.
Yeah, dude, I was saying this to Clint from Liberty Lockdown last night.
I did his show.
That's up if people want to go check that out on Liberty Lockdown, excellent podcast.
But I was saying, like, just like, like, I'm really, I'm very, I'm not very frugal with money.
Like, I spend money.
I was raised by a bunch of cheap Jews and I hated it.
I hated that everyone was always so cheap.
I'm a big tipper.
I'm a big, you know, spender in general.
Like, if I'm out, I'm always like, you know, I pick up dinner.
I pick up things like that.
Like, that's kind of my style.
I don't really like watch money like that.
But I was on my way to do the show that we did last Sunday and I grabbed a burger at Five Guys.
And I got a burger, fries, and a soda.
And okay, large fries, large soda.
You know, I'm a man, but it was $25.
And I read, just, it just like kind of hit me for a second.
You get that and you're like, man, it's so crazy.
I guess like around my age where I'm like 38, you're like, you kind of have this memory of like what prices are supposed to be in your head.
And you're like, a burger, fries, and a soda is 25 bucks now.
It's just like, this shit is hitting normal people.
Like you can't avoid this stuff that's right in your face where it's like, yeah, man, prices are like substantially higher than they've been.
And for people who are like real working class people, that means something.
That really means something.
It goes from $18 to $25.
You're like, whoa, holy shit.
That changes my week, you know?
It's yeah, it's all around us.
And even seeing the Fed have to slowly admit it, you know, now, of course, what they're admitting is like CPI projections, which are bullshit, don't even account for like true price inflation.
It's just their random, you know, basket of goods that they like to pick.
But, but yeah, real people are feeling it, man.
And this is, I got to say, and I'm curious your thoughts on this, but I really do think that the money creation and the stimulus checks and everything over the last year, they're just, it's not like, it's not the same thing as extending credit to banks.
This is going to be impossible to keep out of like, you know, like real price inflation.
And people are going to start feeling this.
And I think the price inflation over the next year is going to be substantially higher than what the Federal Reserve is predicting there, three and a half or 4% or whatever they're saying, which even that would be bad enough.
Like, why, why is it just okay?
Oh, the government's going to steal 4% of your money this year.
But I think it's going to be a lot, a lot higher than that in reality.
Yeah.
And I also think the repo market is too complicated for me to understand, but I do think it is like the first signal of trouble in these markets.
And there's been so much, I guess, excess capital and cash from what the Fed has given to the banks that like they're just doing reverse repos.
They're just trying to get it off their books.
And it literally makes no sense to me.
I don't understand why banks wouldn't have a single good allocation for money that they wouldn't rather do something than just hand it to the Fed.
But I guess it's just overnight.
I don't know what's going on there, but I can just tell you there's so much cash in the system right now that not only is the Fed like, I guess, unwinding its buying, but like the banks are just handing money back to the Fed to try and get it off their balance sheets.
Yeah.
Yeah, it's a weird situation that I think we're in.
And I think a lot of the stuff going on in the repo markets and the kind of flirting with these like ideas of negative interest rates and stuff like that is that we're at this game of musical chairs and it just feels like we're really getting close to the end where it's like, oh, there's no, there's like only like one more chair to pull and then someone's falling.
Like this just isn't, you know, I don't know if that's the right analogy.
I haven't played musical chairs in a while.
Anyway, the point is, it was fun when I was a kid.
It was always kind of like this game.
So you know, you know, the history of like when Volcker, I guess it was, I believe, was it Volcker?
Yeah, he was the only guy who raised it.
Yes, right.
So Volcker under Reagan raised interest rates really high, like 19, 20% or something like that.
The idea was to get inflation under control.
And we just at the time didn't.
Now, to be fair, this caused a lot of pain.
It's not like it didn't, you know, like raising interest rates really, really sucks for people who like need to borrow money.
I mean, it, it really like, I know there were particularly a lot of farmers who were really screwed over by it.
Like it was like, oh, they needed loans and now they couldn't afford the loans, you know, and but it did kind of get inflation under control.
But we weren't such a debt-based society that we could stomach that.
We could handle raising interest rates up and kind of purge the pain out of the economy.
And, you know, it's almost like every answer since then after a major recession has been lower interest rates, lower interest rates, lower interest rates, lower interest rates.
And that's always, and then, you know, like after the 08 recession, they brought him down the lowest they've ever been, you know, held him at almost zero for, you know, I think like eight years.
And then, you know, they could, they never even really were able to take them back up that much, you know, like maybe to one percent, a little over one percent.
And then after this last year, you know, it's just been way down with all the money printing and crazy low interest rates.
And now you're in this situation where they can't really do anything.
I mean, they can't really lower interest rates anymore to send confidence through the markets.
And even though they see inflation coming, they can't raise interest rates because the whole society is a completely debt-based society now, like the entire economy.
It's not just like, it's like on a on not like a federal government, state governments, local governments, businesses, pursed people, you know, individuals.
Everybody's got so much debt that to raise interest rates would just crush, just crush the economy.
And so now they're in this weird position where they're like, all right, we got to figure out some type of trickery, but it's rough.
Like it's, it's, you know, there's really only so many tricks.
At the end of the day, this is all just smoke and mirrors.
You're just printing money.
And they're not even printing money.
They're just sending it into sending zeros into bank accounts.
Yeah.
The other element of raising the interest rate, especially if they were to do it quickly, is that you would see a lot of people pull out of the stock market because now there's yield available in more secure assets.
And I don't know what that might do for the country if suddenly you have a massive drawdown of people in equities.
Yeah, yeah, yeah.
No, that's that's for sure.
That would be interesting.
But you know, it seems like as bad as that would be, it seems like it'd be the only real solution.
You know, like we, we need higher interest rates.
It's like that, you know, like, I mean, I'm not trying at all to suggest that it would be a smooth transition.
It would be really, really rough.
But just the diagnosis, like the fundamental problem in America is not that we have far too much savings and we need more spending.
You know what I mean?
Like the problem is we have way too much spending and not nearly enough savings.
And if you want that to correct, you need higher interest rates, right?
Higher interest rates incentivize people to save rather than spend.
And lower interest rates incentivize people to spend rather than save.
And of course, to speculate.
But we have way too much speculating, way too much spending, not nearly enough production and savings.
So what does that tell you?
Yeah, it's going to be, it seems like they're just trying to get a little bit ahead of this because it's so it's so apparent.
I mean, it's been every news story for the last three weeks is inflation, inflation, the Fed's got to do something.
So this seems to be the smallest thing that they can do is, hey, we acknowledge this and we're going to make a change in a year.
What is it?
2023.
So they're just trying to like almost tease what's the minimum that we can do that at least people will relax and feel like we're trying to like, you know, pull this back.
But if I guess inflation will also rise somewhat in tandem with people's expectation of it.
Because if people are somewhat expecting that goods are going to go up, they might try and purchase more of them today, which would further, you know, push up the price of goods.
And so the more that it's being reported, hey, there's inflation coming, the more you're kind of, you're going to actually make inflation happen.
Also, the other side of that is that companies will go, oh, look, people are educated on inflation.
This is my opportunity to raise prices.
So in some ways, the education about inflation will actually bring more of it.
So some of this is, in my opinion, they're trying to just pull in the narrative of like, let's try and recontrol this, establish that we have control.
Maybe there'll be less panic and then not as much of this will come to fruition.
And then we've got another two years or whatever amount of time to try and keep control over this situation.
Now, the question will be: are we going to end up with such an inflationary event where they actually have to go, oh shit, we got to start raising interest rates drastically?
But, you know, there's a reason why people in finance make as much money as they do.
And because who the fuck knows?
I can't tell you that.
You know, yeah.
Well, we'll, we'll see.
We'll, we'll kind of see what they come up with.
It's interesting, by the way, to see, like, as all this is happening, just like, and this is like what's just become so obvious to me is just that, like, you'll look at like just the amount of money that's been printed and the Fed coming out and kind of giving these indications of like, oh, yeah, inflation is going to be worse.
And everyone's feeling.
You also got to add a slowdown in services.
Most factories, you know, no one was very few people were at full production this past year.
So if you've got more money chasing less goods and services, obviously prices are going to rise.
Yeah.
Yeah.
No, that, well, that's, that's for sure.
And just one more factor because it pays in.
Also, in my estimation, Biden's like, you know, shutting down some of our country's oil and other production.
So I think, and if you look at just all the nonsense that's going on with ESG investing and kind of looking for all these, you know, green energy, which doesn't quite exist at the moment in the same capacity that we can grant energy from fossil fuels and you're winding down coal, there's a good chance that energy prices are going to go up.
And so if energy prices are going to go up, literally everything, everything goes up because everyone's got to consume energy.
Right.
And of course, that's not counted in the CPI.
Like that doesn't matter if we had to take that off the books.
Otherwise, you got to admit the inflation.
Right, right.
So, but so, but while this is all happening and these really serious forces are like really threatening the things that actually matter to like most people, you know, just like most people don't really care that much about so much of the stuff that CNN and these other guys spend all their time on, but this stuff really matters to them.
And then it's like you just watch all the distractions happen.
So then like, was it Biden comes out and says, you know what?
June teeth, Juneteenth is an officially federally recognized national holiday, you know, and there's all these arguments back and forth about this holiday and like people have their take on it.
And it's like, guys, this is just like, this is so, so stupid.
On the same day, the Supreme Court rolled in favor of global slavery.
So, you know, we can talk about Juneteenth all we want.
CBD Products Promo00:02:08
Right.
Nestle's off the hook for being the sole purchaser from slave labor.
Right, right.
You know, it's like these things, like, it's just, it's so weird.
But then on top of that, it's like you have the distractions, right?
Which is just like, you know, it's like some of it's just like so blatant.
Like they're just, you know, all right, Joe Biden just bombed Syria and spent, you know, proposed $6 trillion in spending and is printing all this money and all of that.
But, but, but what should we call a dude in a dress?
Should we call him a dude?
If you call him a dude, you're a bigot.
I say we call him a chick.
That's a chick.
You know, it's like, what is like, what are we even talking about?
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Teaching Kids About Race00:15:44
All right, let's get back into it.
Then there's these other distractions that it's almost like, okay, while they're obviously intended to be distractions, they're also pretty damaging.
And you kind of have, so it's like, oh, and also we're going to teach your kids that like to be racialists and if they're white to hate themselves and if they're black to be, you know, perpetual victims and all this.
And you're like, all right, clearly you're trying to throw us off the scent, but that is actually worth fighting because it's just, you know, insane.
And so, anyway, this has been getting a lot of attention online and like on Twitter.
There's all these videos going viral of parents being really fed up with critical race theory shit being taught in schools.
There's been some really great videos, really great videos that have been going around about it.
And like, you know, these videos with parents going in and speaking to the school boards and just flipping out, you know, like really like, you know, like, I will not have you teaching my kids this garbage.
And I, you know, I got to say, like, as I said before with Michael Malice, a lot of it is like, I don't just, I don't just think that like critical race theory is awful because it's like, you know, like here, hold on.
I'm just trying to find this video and send it over to Brian because I forgot about this one.
And this, I really, I saw this one and really liked it.
But it's just the idea, even despite the fact that it's like, it's dumb and it's like intellectually flawed and it's got all this shit about, you know, whatever.
I just sent you one more video, Brian.
And it's got all this shit about like, you know, being against the meritocracy and liberalism and all these problems, but it's like just the idea of teaching kids to be racialists, not just racists, but to actually teach kids to focus on race, that race is a very important factor, and that you should see black kids as black kids and you should see white kids as white kids and see all of like everybody as their racial group.
I think is so damaging.
I think it's so damaging.
Like the whole message that you'd want to be sending to kids is just like, whatever racial group you're a part of, that's not that important.
It's just not that important.
Not to say it's completely unimportant or it doesn't mean anything.
Not to say that somebody can't, you know, like if the black kid in school can't have some identity as a black kid or something like that.
You know, it's not that, but that it just shouldn't really be at the forefront.
Like you shouldn't look at him as black kid.
You should look at him as Jeremy.
You know what I mean?
Like it just shouldn't be like the most.
And to teach kids the opposite of that, I think is so damning.
So damning.
But anyway, so there was this video.
There's been a whole bunch of them, but this one really stuck out to me that I thought was great.
I thought you would enjoy it, Rob.
This has been going super viral.
3 million views on the just on the version we're playing.
And there's several versions of it.
Which is pretty much going to be teaching kids how to hate each other, how to dislike each other.
That's pretty much what it's going to do.
That's pretty much, I don't care what's pretty much what it's going to all come down to.
You're going to deliberately teach kids this white kid right here got it better than you because he white.
You're going to personally tell a white kid, oh, the black people are all down and suppressed.
How do I have two medical degrees if I'm sitting here oppressed?
How did I get?
First of all, right?
Chat.
We've only got five minutes now.
Five minutes.
Two medical degrees.
No mom, no dad in the house.
Work my way through college.
Sat there and hustle my butt off to get through college.
You're going to tell me somebody look like all y'all white folks kept me from doing that?
Are you serious?
Not one white person ever came to me and say, well, son, you're never going to be able to get nowhere because you know the black people.
But guess what?
What's sickening about this whole thing is what y'all doing right now is all pause it for a second.
And you just feel like the white guy in the front row is going to just start handing him his wallet.
He's just like, all right.
All right.
Fine.
Take it.
I don't know.
He's yelling at me.
No, anyway, I think this guy's fucking killing it.
It's great.
Hi, play.
I do in my community right now to speak out against stuff because black folks are getting told by other black folks.
Oh, you know, you ain't going to be able to do nothing out there in the world because them white folks ain't going to let you get no.
Oh, you know, you're not going to be able to do it here because the white man, the white man, gonna keep you down.
Well, how did I get where I am right now?
If some white man kept me down, how am I now directing over folks that look just like you guys in this room right now?
How?
What?
What kept me down?
What oppressed me?
I work for myself from off the streets to where I am right now.
You're going to sit here and tell me this lie of critical race theory?
This is the reason why black folks can't get ahead because of white folks.
Are you kidding me?
This is what we come to not get.
What he's getting into, and I think this is a very important perspective.
But if you sit down and read any sales book or any book in the world about how to be successful, it's about empowering yourself, feeling good about yourself, and then go trying to make things true.
And he's 100% right.
If you're telling kids that you're behind, you're instilling that in them and you're just not empowering people.
It's not an empowering message to go, hey, the entire world is turned against you and you have very little chance of success because it's all that's not an empowering message.
And also, I'm sure if we look at the data, it's probably less and less true every year that if you wanted to, I mean, if you really wanted to be honest about like, you know, social class or your ability to get ahead based off of your racial minority, I'm sure if we're actually looking at current numbers of graduation rates and forecasting what it would look like in 20 years from now, the picture is just probably not even accurate.
But I'm also just saying, if you're trying to make successful human beings, you don't do it by saying, hey, listen, it's stacked against you, you're screwed.
And so that essentially sounds like give up and don't try.
Yeah, you know, I look at it like this, and I've made this point before.
And I know that there's some people, particularly like some right-wingers who have been bothered by me making this point, but I stand by it.
That I said, look, it's all wrong.
Okay.
Preaching any type of racialist message is wrong.
Like, it's just not, it's, you know, look, I'm a libertarian.
It's collectivist garbage, all of it, you know?
Um, nobody is has collective guilt from things that someone in the past has done wrong, and nobody has collective victimhood for somebody other than themselves who was victimized.
Uh, there's also, you just get into all these weird areas if you even go down that route.
And, and, you know, and it's all over the place when you see it.
It's just fucking wrong.
Like, you know, if people talk about like the black crime rate or something, that is absolutely no, um, you know, there is no guilt to be held by some black dude who isn't a criminal.
It doesn't fucking matter.
He's not a part of that group that are, that are criminals.
And in the same sense that people talk about the crimes of white people against black people, well, some white dude had nothing to do with that has absolutely owns none of it, none of it.
But the point I'm making is that if you were going to be, you know, if you are preaching this racialist language, right, that's saying that like white people are the oppressors who benefit from a white supremacist society and you have white privilege and all of this.
And then the message they're teaching to black people, the black kids, is that like you're a victim and that the whole society is set up to keep you down and all of this.
I find the message that they're preaching to black kids to be more damaging to them.
Like if I had to pick between my, like, if my, I would never, I would never put my kids in a situation where someone was going to be, you know, telling them that they have white privilege and that they're evil for this or that they have this responsibility or that they're inherently racist because they're born with white skin.
I wouldn't put that them in that situation.
But if they were teaching them that they are perpetual victims and the entire system is set up to keep them down, I'd want to kill those people.
Like, I just think that's the worst thing you could do for a kid.
It's like, look, beyond all politics and all of this stuff, we all have every single human being, right?
We've all had moments where we feel bad for ourselves, feel like we're wronged, feel like the system is unfair to us.
Everyone's had that.
Know it's something I struggled with for a long time.
Uh, and like you knew me in these days rob, like before I was uh, successful I.
I really struggled with this, whereas be, like you know, i'd be like really like I was a really strong comic and i'd be killing it in in clubs and there were comedians who got things before I did and a lot of times comics I didn't think were as good as me got things before I did a lot of times blatantly weren't as good as me, got things before I did, and I got way too stuck in like the cycle of being like this is bullshit, it's like unfair.
It's just because this guy kissed ass and I didn't, or this guy had connections and I didn't, and almost every successful person I would say every successful person has had to find a way to regulate that within themselves.
That you have to find a way to say okay, you know what?
Guess what?
Life isn't fair, this whole system isn't fair and i'm just not going to live in this world of bitching about that.
I'm going to focus on what I can control and take charge of it and i'm going to make myself a success and, no matter how unfair a system is to teach kids that the system is out there to hold them down, particularly in a situation where you know there's just not that much merit to it.
Now, that's not to say that there's no problems with our system, but the truth is that if you're a black kid in America who is talented, hardworking and and and gets along with people, just tons of doors are going to open up for you.
You're going to have tons of opportunities to do amazing things in your life and and that I, I just I can't explain how awful a message is instilling a negative thought pattern into uh, young minds that they're going to have that thought pattern for the rest of their life.
They're going to look for it and they're going to.
You're training, you're training people to live with a highly negative emotion and a flawed logic pattern of self-identifying with um, you know, basically like hardship for no reason and and it's a, it's a it's an intoxicating one, you know, because you're giving someone an excuse for any shortcoming that they have and that's a really intoxicating thing.
It's an incredibly damaging thing to be handing to people, especially impressionable young people.
You know to to hand to people.
So you're a kid, you're full of hope.
What you're taking away hope from kids who think, like kids aren't showing up to school or like maybe you know i'm not black, so you know, if you're out there and you are black and you have a different perspective, please tell me.
But i'm gonna guess, even kids living when you're in poverty from what I, you don't know it you're a kid.
When you're a kid, whatever your life is usually feels pretty normal and, like you usually have a pretty good outlook on it.
Like I don't think these kids are showing up to school, being like oh, I don't have a chance here.
I like I mean, maybe i'm wrong about that, maybe there's some instances, but even so right, even if there is some truth to like, even if there's truth to the fact that some kids, but then you go, you can make it yes, like look, here's the thing right, it's never completely true that you're a Victim and it's never completely untrue that you're a victim.
There's levels.
Everyone is a victim to some degree.
Now, it might be true that some people are more of a victim than others.
But even in that case, it is just so much more beneficial to tell a young person that they're not a victim, even if they are to a larger degree a victim.
It's so much more beneficial to tell that person that you know what, you can take control and you can be something amazing, you know?
And that's why, like, this guy's message to young black people is so much more productive than the you live in a white supremacist society, especially when you just don't.
This just is not a white supremacist society by any reasonable standard.
You know, like my grandfather, he lived in a white supremacist society.
And he, you know, his family was slaughtered and he had to flee.
Like that's a white supremacist society.
Our society, if you, you know, breathe a word of white supremacy, you know, sympathy, you're, you're going to feel it very quickly.
You're going to, you know, like you're probably going to lose everything you have.
So it's just.
I mean, it's also incredible that you literally have literature that outlines how to be successful.
And read any sales book.
The first thing in there is going to be positive mental attitude.
Corporate America.
Go work in an office in corporate America.
There's going to be a class where you want to hit somebody because you got to sit at some dumb job and they're telling you just to have a good attitude about it.
But it is a foundation for success and we know that.
So then why would you go to the kids and teach them something different?
Like we know that the recipe for success is having a positive mental attitude.
It's the dumbest and most simple rule you'll go learn in any corporate office or any sales book you ever open.
And so we have a principle, a proven principle for success that we're accepting.
Like, you know what I mean?
We've accepted that, or at least corporate America has accepted that as being true.
And on paper, you're training these people to go work in corporate jobs.
So why would you take them and teach them something different than the recipe we currently have for success?
It is.
As you said, it really is child abuse, man.
And it's just, it's sickening that they would do that.
And to the other thing, it's also wrong to teach white kids or any other kids that they're responsible for any of this shit.
It's just all bullshit.
But it's nice to see people pushing back against it.
There was a, here, let's play the, this is a CNN's take on the phenomenon that's going on.
We'll play this and then we'll end on this note.
But I thought this was so funny that this was their take on it.
Really about who is telling it, right?
So if you are the person who happens to be telling the history, you're going to tell it in your favor.
And the best way to correct that so that some people aren't over-indexed in the history of the country is to have all voices, as many voices as possible included in that history.
You know, I had somebody today say, well, you know, I'm just, I'm worried.
I want the telling of that history.
I don't want people lecturing my kid like, hey, you're white, you're bad because of this and this.
I said, why do you think that's what it will be?
I said, that's the only problem is your perception.
Why wouldn't want your kid to understand the roots of slavery and the legacy of slavery, how it has played out for enslaved people as a culture throughout the years?
Why wouldn't you want that?
You don't think that telling people that they were beaten and sold and lynched makes them feel bad?
That's right.
That's right.
That's exactly right.
That's always happy to hear.
That's our idea of that's the whole thing about what privilege is, is that people don't like to have their pleasure interrupted, their peace interrupted.
And so people think that it should be the way that it should be because they have been taught that in this country.
But, you know, telling people, having people come to the realization, especially ancestors of slaves, that they were enslaved and that they were beaten, that they were sold, that they weren't able to accrue wealth, that they weren't able to go to school, they wanted to go vote.
You think that makes them feel good?
So the folks on the other side, stop making it about you and be curious instead of judgmental.
That's all.
And look, conservatives say principles.
Descendants of Slaves00:01:51
I'm very lost on Don Lemon's point.
And as I try and become a little bit more woke and sensitive to the other side, I'd like to at least understand what he's trying to say.
And I'm lost.
It doesn't, it doesn't.
Well, I don't get it.
He's defeating his own point.
First off, I love this thing where it's like, whenever people challenge critical race theory being pushed on children, it's always like, oh, we're just telling them slavery is bad.
What?
You don't want us to tell him slavery is that?
But isn't Don Lehman saying you're making black kids feel worse about this?
Yes, no, he doesn't even know.
He's giving your argument that you shouldn't do it.
He goes, oh, you think it's bad for the white kids?
It's horrible for the black kids.
Like, so stop doing it to all of them.
Also, like, what do you think it's like to find out that they're ancestors of slaves?
It's like, well, actually, they'd be descendants of slaves, Don Lemon.
You fucking retard.
But anyway.
Come back story.
But that's always, but you know, that's always like the thing.
Like, it's just, and then they're kind of like, oh, so, and what's funny is that they're lecturing the parents as if you don't know what you're talking about.
You're just so closed-minded.
Like, you don't want your kids taught about slavery.
Who doesn't think slavery is going to be taught as part of American history?
Like, in what world is that not going to be part of the conversation?
And in what, what do you think if like critical race theory wasn't in the curriculum when we talk about slavery, we'd go, it was all nice.
That was fine.
Nothing wrong with it.
That has nothing to do with any of what we're talking about here.
And the truth is that it's like, yeah, just because there was slavery in this country that ended in 1865, that doesn't mean that we have to view black people today as descendants or ancestors of slaves.
They don't have to wear that identity as Don Lemon admits.
It's kind of damaging to insist that they do.
All right.
Anyway, that's going to be our show for today.
Thank you guys very much for listening.
See you motherfuckers in Connecticut tomorrow night.