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Jan. 29, 2021 - Freedomain Radio - Stefan Molyneux

01:44:28

GAMESTOP STOCK VENGEANCE - MASSIVE UPDATES!

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	So, welcome everybody.
	Good afternoon.
	This is Stefan Molyneux from Freedom Aid.
	Join me tomorrow at 4 o'clock Eastern Standard Time.
	I'm going to be doing a chat with our good friend, ARK investor and endless nemesis of the Federal Reserve, Peter Schiff.
	We will be doing a chat tomorrow afternoon about what's going on and why it's so powerful and why it's so interesting.
	So that's going to be tomorrow afternoon at 4 p.m., Eastern Standard Time.
	So let's dive straight into what the frack is happening today.
	So let's just get to everyone.
	I'm sure everyone's around up to speed.
	Let's just really briefly go over.
	This is from the Daily Mail. So Robinhood, the trading platform, has been hit with a massive class action lawsuit by users as anger grows at the trading app, restricting GameStop and other stocks, quote, to protect, end quote, the fat cats of Wall Street.
	By the by, don't you find it eerily fascinating that an app called Robinhood is actually taking from the rich and giving to the poor?
	Really quite fascinating.
	But also, the stock in play, which apparently half the Robinhood users own a piece of, the stock in play is called GameStop, as in stop the game, stop the rollercoaster, stop the casino, to punish people.
	Who are betting billions, consequence-free largely, with other people's money.
	GameStop. It's just, it's a pretty wild thing.
	If you were to put this in a movie and say, well, the stock in play is going to be called GameStop, people would say, oh, that's too on the nose, that's too obvious, that's too, you know, clear an analogy.
	But that's the way reality is working because truth is often stranger than fiction, as we well, well know.
	So, let's go on with the latest news from today, which is pretty mind-blowing.
	So, on Thursday today, that's for those of you watching a couple of hundred years from now and reliving history as it used to happen.
	So, Robinhood on Thursday today halted the ability to purchase new shares of GameStop.
	Holy shit!
	Like... Oh my God!
	That's mind-blowing!
	Of course, I was predicting it yesterday, but it's still mind-blowing when your predictions come out, right?
	They've halted the ability to purchase new shares.
	Why? Because the ever-rising price was hurting some particular big hedge funds who've lost.
	Have you guys heard? Have you guys heard some of these sums that are kicking around about how much has been lost?
	You know, give me a chat.
	Give me a chat. Give me a chat.
	What have you heard?
	What have you heard? So did Fidelity and Schwab, says a listener here.
	And, you know, just so everybody knows, like the stuff I'm getting in the chat here is not verified.
	I'm just telling you what people are saying.
	And some people are saying 70 bill.
	I haven't heard that high. I haven't heard that high.
	200 bill? No.
	I've heard 20 or so.
	So it's a lot of money, right?
	And it's funny because, you know, people talk about losses.
	They're not losses. They're transfers.
	According to Glenn Greenwald, it's over $100 billion.
	All right. Well, it could be that high.
	Reuters says $70 billion. Can a brother get a link there?
	Could you show me a link? And I'm not saying I don't believe you guys.
	I would just like to be able to read more details about it, perhaps even live while we chat.
	But $24 billion, yeah.
	So it's a pretty big spread. I've got $13 billion up to, what, $200 billion, which I think is too high.
	But is it the broker or the market maker doing the blocking?
	I believe it's the app that is doing the blocking.
	And, oh, it's worse than that in a lot of ways, right?
	So Robinhood halted the ability to purchase new shares of GameStop.
	They also stopped purchases for AMC, Nokia, Bed Bath& Beyond, BlackBerry, and Express.
	Now, I know most of those.
	I don't know what Express is.
	The move drew outrage from Reddit users who had driven share price up.
	Now, isn't that a funny way?
	Who liked the share? Who were buying the share?
	They've driven the share price up.
	Both parties in Congress joined the outcry as well, as well as Dave Portnoy and Yarul.
	Senate Banking Committee planned hearings to investigate the matter.
	Oh, what are you going to say, man?
	What are you going to say?
	You know that thing which justifies gun ownership where they say, you know, someone's invaded your home and they're armed?
	They say when seconds count, the police are minutes away, right?
	That mostly when you're facing a situation of violence, The best thing that you can hope for is that the police might be able to identify your body without having to go to dental records because they'll shoot you in the chest rather than the face, right?
	So, you know, when seconds count, the police are minutes away.
	Now, yesterday I was talking about how for the last 10 years, the average length of time a purchase stock was held onto was 40 seconds.
	So you understand, the people who want to sell their shares or the people who want to buy more shares, they want to do it now!
	Right? Because a minute might be too late.
	Five minutes might be too late. Ten minutes might be too late.
	But don't worry, folks.
	Don't worry. The Senate Banking Committee is all over that shit, man.
	They're like it. They're all over it, like white on rice, like a fat kid on a smarty.
	And in a couple of months, when the chance for any profitability is long deep in the rear view, and the whole thing is blown over, in a couple of months...
	They'll hold some sham theater hearings and desperate sad people on the internet will take snippets out of those hearings and they will say, well, so-and-so really eviscerated some corporate executive by, you know, it's just a bunch of theater.
	Doesn't mean anything. Doesn't mean anything.
	GameStop has surged more than 1,700% this month in short squeeze.
	We'll get into more of that in a sec.
	GameStop shares sank 50% on Thursday in morning trading after trading ban.
	Again, this language.
	The fuck are you supposed to believe anyone anymore about anything?
	Oh, my sweet.
	God above. You know, they just fell, man.
	The shares sank. This is like saying, okay, let me just say, if someone out there ends up kidnapping me, duct-taping my face, and binding me With twine on ye olde ankles and wrists, and you dump me in the trunk of a car and drive me from Toronto to Montreal, for whatever nefarious reason, right?
	So let's say that this happens.
	I get kidnapped, thrown in the trunk of a car, duct-taped, twined up, and driven from Toronto to Montreal.
	The news will say, hey, Steph Molyneux.
	Noted philosopher, I'm sure they'll call that, right?
	Steph Molyneux, he just decided to move from Toronto.
	He's moved from Toronto to Montreal.
	He's switched cities. He's on the move.
	He's on the move. No, they didn't just sink.
	You were banned from buying that shit.
	So, of course, the price went down.
	That's the whole point of preventing people from buying stuff is to drive the price down.
	Oh, it just sank, though, man, right?
	The struggling company runs a chain of video game stores across the country, blah, blah, blah.
	And, you know, they're working at getting into digital.
	And as I talked about yesterday, if they can figure out a way to replicate digitally what you can do physically, which is to recycle the games you don't want anymore, they'll make a fortune, right?
	I mean, Blockbuster could have become Netflix if they wanted.
	The group WallStreetBets, that's the Reddit group, is leading charge to inflate stock and punish hedge funds.
	And it is really personal, right?
	One of the OPs runs the original posters.
	It's really personal. I'll get to that in a sec, right?
	But here's the thing. You've got to look at this language.
	It's absolutely fascinating. Just the amount of economic sophistry slash illiteracy is, I mean, I'd say it's alarming, but it's so predictable it's ridiculous, right?
	So they're saying, inflate the stock.
	So the price of the stock is going up.
	Why does that mean inflation?
	The stock went up. What would it inflate the stock?
	So they like the word inflate because it indicates bubble, which they get to in a second, right?
	So, but please, dear God, dear God above, there is, repeat after me, there is no objective price.
	There is no objective price.
	What's a bottle of water worth?
	Well, if you've just drunk three bottles of water and you're not thirsty, it's worth nothing.
	Worth nothing. If you're dying of thirst in a desert, it's worth everything you own.
	What is the objective price of water?
	It doesn't exist.
	There is no platonic realm wherein value fastens on to an object.
	And that's the ideal thing.
	And every deviation from that is somehow an inflation or it's sunk or it's bad.
	Stuff is worth what you pay for it and nothing more and nothing less and nothing else.
	That's all it is.
	All it is. And do they ever say, well, the Treasury is printing lots of money to inflate the money supply and cause inflation?
	They never say that, right? Hedge funds Citron and Melvin Capital.
	It's like when my daughter and I were swimming once and she wedgied me and I said, Melvin!
	That's what it was called when I was a kid.
	Likely lost billions as the shares rose.
	Wall Street investors expressed alarm and say they've never seen anything like it.
	Well, it could be true. When the bubble collapses, all of the shareholders' gains could be wiped out.
	Oh, there's good old Daily Mail licking the boots of the banksters.
	When the bubble collapses, all the shareholder gains could be wiped out.
	Biden's press secretary says that his team is monitoring the situation.
	She'll circle back to you.
	This, like, dipsy redhead out there.
	I can't remember her name.
	Anyway, she's always going to circle back to people.
	They're going to circle back to me. It's crazy.
	So let me just jump back in here.
	You guys got any sources?
	All right. Let's see what we've got.
	And again, I don't mean to say anyone's not telling the truth.
	It's just I'd like to get a little bit more.
	Losses on short positions in the U.S. firm's top $70 billion.
	Yeah, that's today. This is from Reuters, so I don't mean to say it's authoritative because...
	I like to think I'm authoritative, but you know.
	Short sellers are sitting on estimated losses.
	Oh, hang on a sec here.
	Okay. They're sitting on the losses.
	The losses may not have materialized yet unless they sell.
	Short sellers are sitting on estimated losses of $70.87 billion in their short positions in U.S. companies.
	So far this year, okay, the whole year not right.
	So data from financial, data analysts, blah, blah, blah.
	Okay. The hefty losses come as shares of highly shorted GameStop jumped more than 1,000% in the last week without a clear business reason, forcing short sellers to buy back into the stock to cover potential losses to find a short squeeze, while retail investors then piled into benefit from the surge.
	Okay, so here we go.
	The estimated losses from shorted GameStop are just over $1 billion.
	So this article is mostly bullshit from my opinion.
	From Sujata Rao. Losses on short positions, the U.S. top 70 billion, right?
	So this is designed to freak people out, to make them angry at the Redditors.
	So short sellers are sitting on estimated losses of almost 71 billion from the short positions in all U.S. companies so far this year.
	Like we're almost four weeks into the year, right?
	So we're just talking about a bill.
	A bill from GameStop, 600 mil from Bed Bath& Beyond, probably smaller ones from the others, right?
	So, yeah, don't be tossing these figures around without checking them, which is, you know, why I wanted to check.
	Let's see here. What else have we got?
	From Reuters. Yeah, yeah.
	So the last... Don't blame the Redditors because everybody else is shorting like mad, right?
	Oh yeah, everybody's sharing with me this same article.
	Guys, you've got to be, I'm sorry, I don't mean to nag you, but you've got to be more critical.
	You can't be tossing around saying, oh my gosh, this Reddit stuff is, the losses from this Reddit thing is 70, it's not, it's not, it's not even close.
	It's not even close. It's not even close.
	All right, hang on a sec, let's see what else we got here.
	Oh, okay, it's just somebody on.
	Yeah, everybody's sharing the same article.
	Are you guys all the same person?
	What are you talking? Reuters says 70 billion.
	No, they don't. No, they don't.
	The great irony here, as somebody says, is that Robinhood used to give away shares of GameStop as promotion for joining.
	Now, I've heard that Elon Musk was game strong, right?
	He was tweeting about this stuff, and I heard it was because one of the hedge funds shorted his shares many years ago, so I don't know, whatever it is, right?
	Yeah, it's fantastic what they did.
	It is fantastic what they did, right?
	So let's get on a little bit more with the details and then I'll give you the facts, give you the analysis, get your questions, all that kind of stuff, right?
	All that kind of good stuff.
	All right. So Robinhood has been hit with a class action lawsuit accusing the stock trading app of siding with Wall Street hedge funds against small investors by blocking their ability to buy shares of GameStop following a Reddit-fueled rally.
	Robinhood on Thursday blocked its users from buying stock in GameStop and 12 other companies, citing recent volatility after a rally that saw shares in the video game retailer blah blah blah.
	So saw the company said that it would begin allowing limited buying for some of the banned shares on Friday.
	Well, isn't that fucking nice of them?
	Oh, that's just so generous to let you do something with your own money that you want to do.
	Following the ban, which was joined by Interactive Brokers and TD Ameritrade, GameStop shares whipsawed and closed down 44%.
	See? It just whipsawed, man.
	I mean, it's so volatile.
	It turns out that when you ban people from buying stuff, it has a pretty significant effect on the price of what it is that they want to buy.
	No kidding. Robinhood said in a statement that its mission is to democratize finance for all.
	Of course it is.
	And that its platform has helped everyday people from all backgrounds, shape, and financial futures.
	Oh, I would even make that joke.
	All right. But Robinhood's buying halts through fierce backlash from members of the Reddit forum and the Senate Banking Committee announced to withhold a hearing on the matter.
	Estimated half of Robinhood's 30 million users reportedly on stock and game stock.
	They responded to the trading restrictions with the flurry of class action lawsuits and complaints of the SEC. Outrage at Robinhood appeared to briefly unite the country with GOP Senator Tan Cruz, Don Trump Jr., and Democrat Representatives Alexandria Ocasio-Cortez and Rashida Tlaib, all blasting the app for shutting down trades while hedge funds remain free to buy and sell stocks as they please.
	Of course, of course.
	Barstool Sports founder and amateur investor Dave Portnoy even called for Robinhood co-founders Vladimir Tenev and Bajubat to be, quote, jailed.
	He tweeted, Prison time!
	Dems and Republicans haven't agreed on one issue till this.
	That's how blatant, illegal, unfathomable today's events are.
	So Dave Portnoy wrote, Somebody is going to have to explain to me what world Robinhood app and others literally trying to force a crash by closing the open market is fair.
	They should all be in jail. The hedge fund guy shorted those stocks.
	Now we can't buy them. People start selling out of fear.
	We lose money. They make money on the short.
	This is an effing crime, says Yarul.
	Yo, this is an effing crime.
	What Robinhood app is doing?
	Do not sell! Hold the line!
	WTF! And then there's a big class action thing, which I won't obviously get into in detail.
	So Baiju Bat and Vladimir Tenner founded Robinhood in 2013, saying they were inspired by the Occupy Wall Street protests.
	And according to Mike Cernovich, the Occupy Wall Street protest was brought down by social justice warriors funded to destroy the movement from within by fostering division based upon identity politics.
	And he says he even knows the people who paid them.
	So just putting that out there.
	These guys have an estimated net worth of about a billion dollars, thanks to their stakes in Robin Hood.
	Last month, the SEC ruled that Robin Hood had misled its customers about how it was paid by Wall Street firms for passing along customer trades and that the startup had made money at the expense of its customers.
	Robin Hood agreed to pay a $65 million fine to settle the charges without admitting or denying guilt.
	Bart, 36, is the son of Indian immigrants, earned a bachelor's degree in physics and a master's in mathematics from Stanford.
	Tenev, 34, was born in Bulgaria and moved to the U.S. with his family when he was five.
	He earned a bachelor's in mathematics from Stanford and dropped out of a Ph.D. program to team up with Bart.
	Anyway, so...
	It's pretty wild.
	Was it Ocasio-Cortez?
	Ocasio-Cortez is on the, what, Senate...
	Committee that oversees this kind of stuff.
	She's like, I'd be open to hearings if necessary.
	I'd be open to hearings if necessary.
	Yeah, that's some pretty strong, pretty fiery language, man.
	Pretty fiery language. I'd be open to.
	And she refused to work with Tom Cruise because she said Tom Cruise and his ilk, something like this, plotted to murder me three weeks ago.
	Right? So there's a personal beef getting in the way of protecting the people.
	They're all owned by The same group of people.
	Some might even use another word.
	So... Despite the loss of momentum for GameStop, users of the Reddit forum WallStreetBets boasted that they had diamond hands, their term for a trader who refuses to sell until reaching their ultimate goal.
	And what I saw on the forum, which was really fascinating, was somebody said, hold the line!
	We are approaching the final boss!
	That's a video game analogy, if I'm sure you know what it means, right?
	But it's pretty vivid, pretty powerful stuff.
	So, on Thursday, a federal class action lawsuit was filed.
	The suit accused Robinhood of, quote, pulling securities like GameStop from its platform in order to slow growth and help benefit individuals and institutions who are not Robinhood customers but are Robinhood large institutional investors or potential investors.
	Some critics have accused Robinhood of catering to Citadel Securities, a hedge fund that is a major investor in the company and also pays for order flow in an arrangement that subsidizes the app's free trading.
	Citadel this week participated in a nearly $3 billion bailout of Melvin Capital, one of the hedge funds that faced crushing losses.
	Face crushing losses.
	You know, it just – you know, like when your wife gets hit by a car, you just out of nowhere – you face crushing losses.
	You have nothing to do with it. You just face-crushing losses.
	I'm sorry. I shouldn't probably be enjoying this, though.
	They just face crushing losses, you see.
	It's not like, you know, like if I go and gamble my house at Blackjack and lose, do I just face crushing losses?
	No, I just gambled away my house.
	Now, in these case, these guys might not be able to meet property tax payments on their third yacht.
	I mean, this is serious shit, man.
	Of course, tiny non-institutionalized investors who are trying to put food on the table should be completely screwed.
	These guys might not be able to pay property taxes on their offshore tax havens.
	Woo! Have some sympathy for these poor, poor, staggeringly rich and well-connected people.
	Just, you know, face-crushing losses.
	Oh, Citadel claims in a statement that did not order the trading halls.
	All right. So, I don't know.
	I've also heard rumors that Robin Hood may want to go public and may need investment from these very same trading companies.
	I don't know if that's true or not.
	What's the gash on your forehead from?
	Oh, just a trip. The woman who walked into doors.
	Yellen is the final boss.
	We'll get to Janet Yellen.
	Don't worry. Don't worry.
	We will get. AOC is House, not Senate.
	Yeah, yeah. Thanks, of course. Right? Isn't Elon Musk growing on you?
	Yeah, I think Elon Musk is pretty cool.
	He's pretty cool. He sounds kind of sleepy half the time, but he's pretty cool.
	All right, so...
	Now there are millions of Bernie bros who know the corrupt government isn't on their side and experience how we've been treated by the media.
	Yeah, yeah, for sure. This is a totally bipartisan issue.
	It should be a complete no-brainer.
	But nobody's going to move.
	Nobody's going to move.
	And it's pretty wild.
	Ted Lieu said, Is there anything wrong with folks buying a stock like GameStop because they want to stick it to hedge funds?
	No. Is there anything wrong with Robinhood stopping people from buying dollar GME or allegedly doing forced sales?
	likely sec enforcement should investigate robin hood app um now let's uh oh sorry It's just always there's a lot of really cool memes out there about this.
	But let's go on with a little bit of the stuff.
	I'll get to the truly mind-blowing stuff in just a sec.
	I just wanted to give you guys an update on the background, right?
	Legal experts say brokerage have broad powers to block or restrict transactions and are skeptical that the suit will be successful.
	Miami attorney Jeff Erez told Bloomberg, I'm looking at the Robinhood contract and it says in black and white that they can block or restrict trades at any time.
	I'm not aware of any law that would guarantee you a right to purchase a certain security at a certain brokerage firm.
	Well, if they allow others to continue to buy and sell by blocking certain people, that's pretty bad, right?
	Thank you.
	Others filed complaints with the SEC, accusing Robinhood of an attempt to crash stocks and cost retail investors millions.
	Oh yeah, Alexandria Ocasio-Cortez said, This is unacceptable!
	We now need to know more about Robinhood App's decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
	As a member of the Financial Services Committee, I'd support a hearing if necessary.
	Not, I'm going to get a hearing, I demand a hearing, I'm going to make a hearing, this is going to happen.
	It's like, I'd support a hearing if necessary.
	Oh, yeah, and they've just completely hosed.
	And then Ted Cruz, yes, I fully agree.
	And then she was like, you tried to kill me.
	So... What else have we got here?
	Barstool Sports founder and amateur day trader Dave Portney also slammed Robin Hood for the move in a Twitter rant, saying he would burn the company, quote, to the ground if they shut down free market trading.
	Free market? Come on, we haven't had a free market in well over 100 years.
	You've got to be kidding me.
	I mean, people can't be that naive, right?
	You can't be that naive about stuff, right?
	So, let's do a little bit of the history.
	The war began last week when famed hedge fund short seller Andrew Left of Citron Capital bet against GameStop and was met with a barrage of retail traders betting the other way.
	He said on Wednesday he had abandoned the bet.
	On Twitter, the movement spread on Thursday with the phrase, Do not sell!
	Trending urging people who had bought GameStop to hang on to the stock.
	Regarded by market professionals as dumb money, the pack of amateur traders, some of them former bankers working for themselves, has become an increasingly powerful force with 20% of equity orders last year, data from Swiss bank UBS showed.
	So 20%, right?
	That is a very big number, right?
	It's a very, very big number.
	Now, they might do this to American Airlines.
	They might do it to a bunch of other places.
	They're going to try and find out where the shorts are, and they're going to reverse it.
	Now, it's a very interesting strategy, which, okay, billionaire entrepreneur Mark Cuban voiced his support for the small investor insurgency, telling CNBC Thursday he believes they use the same tactics as Wall Street pros.
	He said there are many hedge funds that have made a lot of money over the years targeting heavily shorted stocks.
	I don't think this is anything different.
	It's just that the people who are making the push aren't who we expect them to be.
	And so that's why I like it, he said.
	When you bring people out of nowhere to really show the inefficiencies of the market, it's a good thing.
	It's a good thing, he said.
	So let's talk a little bit about this financial strategy behind this.
	But let me just take a pause here, do the interactive stuff.
	Okay.
	The interactive stuff, what have we got here?
	This year they will only be able to buy two Epstein Islands.
	Fired up Steph is just great.
	Hi Steph, what are currently your favorite alt-tech platforms?
	Just go to freedomain.com/connect and they're there.
	What have we got here?
	Love you covering these topics, Steph.
	Supporting your abdicating on politics, but it has a way of dragging you back.
	Well, this is not politics, though.
	This is economics, right?
	Blue Horseshoe loves Anacott Steele, Bud Fox.
	That's an uber-American guy from Wall Street, right?
	So, let's talk a little bit about this strategy.
	I just want to check in one or two more places and see if we've got any other questions or comments from the various lovers of philosophy around the place as a whole.
	I care so much, guys.
	Just think of my money. Now I'll only be able to buy three yachts from the companies I've bankrupted this year.
	Yeah, yeah.
	All right, so live stream feedback.
	What have we got here? I can never find this one.
	No! No! Here we go.
	Livestream questions! Yay, Peter Schiff.
	Yeah, that's going to be great. That's going to be great.
	All right. So let me sort of step you through this strategy, right?
	So you sort of understand why people are pursuing it, right?
	How do you make money?
	So the obvious thing is that you make money by driving up the price of a stock or by increasing the price of a stock.
	Sorry. I don't mean to use sophist language here.
	So you increase the price of a stock, and that's going to make you some money, right?
	And that's a good thing. It's going to cost other people some money, but it's a little bit more sophisticated than that.
	So people who have a short position, right?
	You borrow a bunch of shares at 20 bucks, and you say, well, in two weeks, I'll give them back to you, right?
	And so two weeks pass, and if the price of the share has gone down, so let's say you buy 10 shares at 20 bucks, you make 200 bucks, forget about trading fees, just keep the math simple, right?
	You buy 10 shares, At $20, you get $200, right?
	And you sell them, right?
	And then what happens is, two weeks from now, you have to return those 10 shares.
	Now, if the price is only $10 a share, you buy the shares at $10, you return the 10 shares, and you get to keep $100, right?
	You sold the shares at $20, you make $200, you return the shares at $10, and you keep the difference, right?
	That's basically how it works.
	Now, of course, if the price has gone up, Well, you have a big problem, and this has a cascade effect, as these things tend to have, the butterfly effect, right?
	So if the shares have gone from 20 bucks to 40 bucks, Then, you know, you got your $200, but now you have to pay in two weeks, you have to pay back $400.
	And I know these shorts are a lot shorter than that often, but, you know, let's just keep it this way, right?
	So then what happens is, instead of making $100, as you hope the price went from $20 to $10, the price went from $20 to $40.
	And now, not only...
	Did you not make your $100, but you now owe $400?
	Now, you owe $200 net, right?
	Because you sold the shares at $20.
	So you got $200 in your pocket, but now you owe another $200 to cover the difference between the $20 and the $40, right?
	So that's really bad.
	Now, of course, as you know, the share price went through the absolute freaking roof.
	Now, as the price is going up, Your exposure gets pretty huge, right?
	I mean, you guys all know what margins are, right?
	It's when you can buy a multiple of the money that you are investing, right?
	So sometimes, I mean, you can get $100 worth of trades off $3 of actual cash, right?
	The multiples can be 30 times.
	It's really nuts, right?
	And the whiplash effect of that is absolutely monstrous.
	Absolutely. And this is what happened in 2007, 2008, along with the bundling of these bullshit securities and selling them as complex financial instruments to spread the pain all over the world because of the bad investments often forced by the government into providing loans for unqualified people to buy houses.
	So when the losses start to mount, I mean, it's a shitstorm because you've got to sweat, right?
	Because when do you get out?
	Now, in any reasonably intelligent brokerage, in my humble opinion, I mean, they're called hedge funds for a reason.
	You're supposed to hedge this stuff, right?
	So you're supposed to say, okay, I'm going to take this position, but I'm also going to take the contrary position, maybe slightly less.
	So if the price does go up, I'm not going to lose my house, so to speak.
	Not that you ever lose your house, because the corporations absorb the losses, the customers absorb the losses, the taxpayers absorb the losses, the individuals never absorb the losses.
	I can't tell you how terrible that is.
	Fucking terrible that is.
	You know, when people gamble and lose this bad, I want them living in fucking rain barrels under a bridge, okay?
	I want them to lose everything, but right now they've got this magic giant corporate bullshit shield which allows their customers and their employees to get completely fucked while they walk away.
	Often with billions of dollars.
	Corporations, it's like you smoke and some anonymous person in India gets the lung cancer, right?
	I mean, it's absolutely appalling, absolutely revolting, absolutely horrible.
	This is how it used to work.
	Before corporations, before this bullshit legal fiction to protect the rich was invented, it's not a function of the free market, it's a function of government and it's fascistic to its core.
	If you fucked a bank, you owned a bank and you fucked it up, you lost everything.
	You lost your house. You lost your savings.
	You went to jail sometimes if there was any fraud involved.
	And if there was no fraud, you just fucked it up.
	You would lose everything.
	So you better believe these people had some pretty close attention to making sure that that bank ran well.
	But then they invented this bullshit shield, which you and I don't have.
	You know? Can you imagine?
	They start arresting, well, they have, start arresting the people who were in the capital.
	They say, no, no, it's, you know, you can arrest the corporation.
	You can put my corporate papers in jail, but I can't do anything to me.
	I can't do anything to me.
	Or you, I don't know, you drunk driver.
	Police don't ever drink and drive.
	You drunk driver. You say, no, officer, I'm a corporation.
	You can give the breathalyzer to the corporation, but you can't do anything to me.
	The corporation can pee in a cup, but don't ask me for it.
	Come on. It's like you've got a hand puppet that takes all the hits for you.
	And these... Oh, mofos.
	Oh, you know...
	Do you hate the player?
	Do you hate the game? Well, we'll get to that later, but...
	No, no, no. You...
	You end up as an industry with 140% shorts on GameStop?
	Somebody needs to end up living in a fucking storage room at GameStop.
	Like... It's unbelievable how consequence-free things are, right?
	So I tweeted this, and I didn't tweet, sorry.
	Bit of an old colloquialism.
	I posted this on various social media platforms that I hope you understand.
	Now, so consequences are for little kids who can't pass a test Because they're hungry and abused at home, right?
	They can't get any sleep, don't have enough food, they're tired, hungry, and so they fail the test.
	So, sorry, kid, you failed the test.
	You've got some consequences. You might lose an entire year.
	You failed the test. You have consequences because you're an eight-year-old kid, right, who has no control over his or her environment.
	That's consequences. But for the rich people, consequences?
	You've got to be fucking kidding me.
	That's why you see all these fines.
	It's just a shakedown, right?
	The government doesn't want to throw people in jail because that costs the government money.
	The government wants to...
	I mean, rich people, right? The government wants to fine them because that makes the government money, right?
	Straight up horrendous.
	Straight up horrendous. So, let's get back to the short squeeze, right?
	So, you buy...
	Oh, you borrow the shares...
	At $20, you sell, you make it $200, right?
	Two weeks later, you've got to buy the shares to return them, right?
	Shares going down, you make money.
	Shares go up, you lose money. Now, so what happens is when you put a short squeeze in, people desperately want to not buy these shares.
	They desperately want to not buy these shares because they've gone up and they're going to lose a shit ton of money, right?
	But they have to buy the shares because of the short contracts, right?
	Here's the funny thing. It's not just the Redditors who are driving up the price.
	And this is the lack of financial literacy in the people who claim to have some level of intelligence to write about financial matters.
	They have no financial literacy, right?
	Because what they should be doing is they should be saying that the price is also being driven up by the institutional investors who have to buy the shares to cover the short.
	They have to buy this because they have to return the shares that they borrowed earlier.
	And so it's not just the Redditors and the people in the apps like the Robinhood.
	They're not just them who are buying these shares.
	The shares are being bought by the institutions who have to buy them even though they hate it.
	They have to buy the shares in order to return the shares they borrowed, which is the definition of the short thing, right?
	So the mainstream investors are the ones also driving up the price because of their own shorts.
	And that's a way the short squeeze works beautifully.
	Because by triggering a rise in prices, they have to buy the shares in order to cover the shorts.
	So they're buying lockstep with you, although it's costing them a fortune and making you a fortune.
	They have to buy the shares.
	The institutional investors have to buy these shares to cover their shorts.
	But, you know, how many people are talking about that or writing about that?
	They don't have a clue.
	They don't have a clue.
	All right. Forex, foreign exchange, is up to 200 times leverage?
	Sure. Sure.
	Sure. Well, and so people are like...
	They've asked me, and it's not like...
	Oh, Steph, the Oracle. I just, you know, people have asked me because they're kind of curious, like, what my perspective is on margin, right?
	Can you buy on margin?
	I don't care. Is it a violation of non-aggression principle?
	Is it a violation of property rights to buy on margin?
	No. Is it a violation of any basic decent standard of morality not to say fraud if you buy on margin and are shielded from the consequences of a loss?
	Well, yes. At that point, it is yes.
	Oh, this just in!
	Oh man, I got messages flying at me all the time!
	It's like hot dogs in that meme.
	Alright, so let me get another article.
	This is from a formerly decent newspaper, now largely fish-wrapping.
	Oh, yeah, they're going for silver, right?
	The silver market is the latest to experience incredible volatility after retail investors incited by promotional posts on social media site Reddit bid up the prices of the precious metal and silver miners.
	One post on Reddit group WallStreetBets implored investors to inflict the biggest short squeeze in the world on the silver market and suggested investors could bid up the price of the precious metal to $1,000 an ounce from $25.
	Silver bullion market is one of the most manipulated on earth, the user who went by the name of blah blah blah posted.
	Any short squeeze in silver paper shorts would be epic.
	On Thursday, shares in Canadian silver miner First Majestic Silvercore surged by as much as 50% in early trading, while the prices of exchange-traded funds that track physical silver bullion increased by up to 7%.
	So, yeah. Oh, silver is ridiculously manipulated, in my opinion, and I think that actually got, had some pretty significant legal stuff in the past, right?
	So, yeah. And of course, some people are saying, some people are the financial people, you've got to ban people on the internet from talking about shares.
	I'm sorry. It's so sad.
	It's so understandable in a pathetic kind of way, but it is just so pitiful.
	It's so pitiful. Adapt your game, my God, right?
	Adapt your game, for God's sakes, right?
	The free ride is over.
	That's what I was talking about last night.
	Free ride is over. People are going to be watching you and trying to Short you now or do whatever they can to harm your financial position because their perception is you had their financial position in the past.
	So I don't care about trading on margin.
	I don't care whatsoever. It's just that you shouldn't be able to let this amorphous blob called the corporation eat the losses, which is basically to outsource your losses to shareholders and employees.
	That's wrong. Gambling with your own money Your own house, totally fine.
	I don't like gambling.
	I don't think that people should be speculators.
	I mean, they're going to always do it, right?
	I just don't think they should. Like, it's not great.
	But genuine, honest, knowledgeable investment is a beautiful thing.
	Speculation is largely injecting cocaine into the limp dick of the market.
	So, yeah, I don't care if people are short.
	It's just, I don't care if people are short.
	I don't care if people buy on margin.
	You can have a thousand to one margin.
	I don't care. If you can get people to lend you that money in a peaceful way, go for it.
	But, but, don't you dare shove this crap onto the population as a whole.
	My God, it's terrible.
	Sorry, I just hit the wrong key here.
	here let me just make sure I didn't screw anything up hold on one sec here I hit the wrong key I wanted to brighten my screen and I switched it to something else.
	Let me just see if this is still doing its thing.
	Let me just close this.
	Yeah, they're going to go after a wide variety of markets.
	Now, look, they just had a big win.
	Some guy turned, you know, 50,000 bucks into well north of 10 mil and so on, right?
	So they just had a big win.
	And, as we all know, when you have a big win, you are going to end up with more of the same, right?
	More of the same. More of the same.
	Hey, Steph, says the Prophet Seven, hello back!
	Why would lending shares be even possible in the first place?
	Um... It's an asset.
	Why can't you share? Why can't you lend an asset?
	There's nothing wrong with that, right? Nothing wrong with that.
	People can short a metal.
	Yeah, it's complex financial instruments that go into it all.
	Or as Bosch would say, it's incredibly complicated.
	They better leave my gold alone.
	Really, are you going to be really, really upset if people end up bidding up the price of your gold?
	Is that going to be a massive loss for you?
	Is that a bad thing for you as a whole?
	I wouldn't assume so.
	Just remember, they really can't do this shit in Bitcoin.
	And this manipulation bullshit, I mean, yeah, of course, we can buy and sell Bitcoin based on various things, but as a whole, you can't do this shit with Bitcoin in the same way.
	So, let me just double check here.
	Still running. And it's nice to see many new people today.
	Hi. I appreciate you coming by.
	Did I mess things up with my accidental switch here?
	Still running? We're still good?
	Yes. Okay. So, let's get into how it's personal.
	How it's personal.
	So, people have claimed...
	This is one of the OPs, one of the original posters, and I think it's worth reading, right?
	I can't verify the truth or falsehood of any of this, but this is what this guy is saying.
	Mods do not delete. This is important to me.
	Please read.
	And I'll put a link to this if you want to read along.
	I'll put it in the show notes, of course, and I will also post it.
	To you, my dear friends in Reason.
	There we go. All right.
	This guy says, I was in my early teens during the 08 crisis.
	I vividly remember the enormous repercussions that the reckless actions by those on Wall Street had in my personal life and the lives of those close to me.
	I was fortunate. My parents were prudent and a little paranoid.
	And they had some food storage saved up.
	When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix and powdered milk and beans and rice for a year.
	Ever since then, my parents have kept a food storage and they keep it updated and fresh.
	Well, please, please do, my friends.
	Those close to me, my friends and extended family, were not nearly as fortunate.
	My aunt moved in with us and paid what little rent she could to my family while she tried to find any sort of work.
	Do you know what tomato soup made out of school cafeteria ketchup packets tastes like?
	My friend's got to find out.
	Almost a year after the crisis low, my dad had stabilized our income stream and to help out others, he was hiring my friend's dads for odd housework.
	One of them built a new closet in our guest room.
	Another one did some landscaping in our backyard.
	I will forever be so proud of my parents because in a time of need, even when I have no doubt money was still tight, they had the mindfulness and compassion to help out those who absolutely needed it.
	To Melvin Capital.
	You stand for everything that I hated during that time.
	You're a firm who makes money off of exploiting a company and manipulating markets and media to your advantage.
	Your continued existence is a sharp reminder that the ones in charge of so much hardship during the 08 crisis were not punished.
	And your blatant disregard for the law made obvious months ago through your, for the Melvin lawyers out there, alleged illegal naked short selling and more recently your obscene market manipulation after hours shows that you haven't learned a single thing since 08.
	And why would you? Your ilk were bailed out and rewarded for terrible and illegal financial decisions that negatively changed the lives of millions.
	I bought shares a few days ago.
	I dumped my savings into GME, paid my rent for this month with my credit card and dumped my rent money into more GME, which for the people here at WSB I would not recommend.
	And I'm holding this is personal for me and millions of others.
	You can drop the price of GME after hours 120.
	I am not going anywhere.
	You can pay for thousands of Reddit bots I'm holding!
	You can get every mainstream media outlet to demonize us.
	I don't care. I'm making this as painful as I can for you.
	To see NBC, you must realize your short-term gains through promoting institutions' agenda is just that, short term.
	Your staple audience will soon become too old to care, and the millions of us, not just at WSB, but every person affected by the 08 crash that's now paying attention to GME are going to remember how you stuck up for the firms that ruined so many of us and tried to tear down the little guys.
	I know for sure I'll remember this In response, here's a list of CNBC sponsors and partners.
	They include, but are not limited to, IBM, Cisco, T-Mobile, JP Morgan, Oracle, and ZipRecruiter.
	Their parent company is NBC Universal, owned by Comcast and GE. To the boomers and or people close to that age, just now paying attention to these millennial blog posts.
	You realize that even if you weren't adversely affected by the 08 crash, your children and perhaps grandchildren most likely were.
	We're not enemies. We're on the same side.
	Stop listening to the media that's making us out to be market destroyers and start rooting for us, because we have a once-in-a-lifetime opportunity to punish the sort of people who caused so much pain and stress a decade ago, and we're taking that opportunity.
	Your children, your grandchildren might have suffered, as I described, because of the institutions that we're fighting against.
	You really want to choose them over your own family and friends.
	We're not asking you to risk your 401k or retirement fund on a single GME bed.
	We're just asking you to be understanding, supportive, and to not support the people that caused so much suffering a decade ago.
	To WSB. You all are amazing.
	I imagine that I'm not the only one that this is personal for.
	I've read myself so many posts on what you guys went through during the 08 crash.
	Whether you're here for the gains or to stick it to the man as I am, or just to be part of a potentially market-changing movement, thank you.
	Each and every one of you are the reason that we have this chance.
	I've never felt this optimistic about the future before.
	This is life-changing amounts of money for so many of you and to be part of a rare instance of a wealth distribution from the rich to the poor is just incredible.
	I love you all. So, you think this is going somewhere?
	You think this is going away?
	You think this is going away?
	No. No, it's not going away, my friends.
	This is not going away at all in any way, shape, or form.
	This is personal.
	This is visceral.
	This is past pain.
	This is crying mothers, destitute grandmothers, hungry children.
	Do you think this is going to go away?
	It's not going away. This is what I said yesterday.
	This is a real paradigm shifter. It's a real paradigm shifter.
	On Flight Club, Tyler was going to blow up Wall Street.
	Yeah. Yeah, that's right.
	I feel like I have to dumb down myself just to get along.
	Yeah, that's true. Well, and of course, here's the other thing, right?
	So, how long did it take to get a couple of hundred bucks into the hands of the people because of the pandemic?
	I know it's all bullshit money printing and all of that, but nonetheless, if the money's going to get printed, why doesn't it go to the people rather than to fucking war and banksters, right?
	Military-industrial complex.
	And the child enslavement business, you understand that most of finance is a child enslavement business.
	And this is why they don't want you to have kids, because once you have kids, you know, these intergalactic, clusterfrag assholes of the universe...
	Who forced my daughter to be born into a million dollars of debt?
	Fuck you. Fuck you, selling off my child.
	See you next Tuesdays.
	It is personal.
	It is personal, man.
	To all the voters out there who want something for nothing, you're enslaving my child.
	To all the banksters out there, Enabling all of this money printing and massive debt and unfunded liabilities and deferred pension payments and free shit.
	You can buy yourself into political power at the expense of my child's future, but it's fucking personal, okay?
	She's a glorious human being who deserves to be born into the same liberties and freedoms that I was honored to receive from the blood, sweat, toil, and tears of my ancestors.
	And you unbelievable assholes...
	Who think that I exist and she exists and everyone I know exist as livestock bleeding into your wineglass collateral for your world domination psychotic vanity.
	Yeah, it's pretty fucking personal.
	It's pretty personal.
	I will not exist as surf collateral tax livestock for your vainglorious dreams of turning every single fucking country into a tax farm for your aristocratic psycho vanity yeah it's pretty personal that's why yesterday yeah good it's about fucking time wish i'd thought of it but yeah it's kind of fucking personal it's kind of personal that's why i talked about the iq stuff and the race stuff It's not my fault that IQ varies across ethnicity.
	It's not my daughter's fault. Why on earth would she get yelled at and blamed for something that's not her fault?
	And if it means that I get deplatformed for telling the truth and giving some reason for her not to be blamed for things, is it her fault that Japanese people tend to be shorter than Swedish people?
	No! It's not her fault.
	Is it her fault that Jews are more genetically susceptible to Tay-Sachs disease?
	No, it's not her fault. She's just a kid!
	Is it her fault that ethnicity and IQ are not the same across the world?
	No, it's not her fault. I blame her for that.
	I don't know. That's why they're going to get the dads out of the family, right?
	Because we try to protect you. We really do.
	All right. We should have turned on a light or two.
	Now I'm starting to look like a Stephen King cover here, but all right.
	I won't go and try and get a light on.
	Sorry about this glare here.
	But let's see if we've got another couple of questions and answers before we close off.
	Yeah, it is an awesome post.
	Robin Hood just sent out emails.
	Damn what an event this is.
	I'm so special. It's so special and seems like the first time something like this has happened.
	But yeah, that's why I'm doing two live streams in two days.
	So look how long it took to get the money out to the people.
	Look how quickly they can get a fucking bullshit impeachment going and look how quickly they can start to threaten people who are making money.
	So then it went even further.
	Yeah, then it went even further.
	Okay, so let's get to this.
	Now this, obviously, is kind of preliminary, kind of early.
	And I'm just going off screenshots here, so take all of it with a grain of salt.
	All of it with a grain of salt.
	Absolutely, completely, and totally.
	But, yeah, there is a lot of hinky stuff going on, right?
	So, it seems that what's happening is that...
	Oh, yeah, yeah.
	So, here's the meme thing, right?
	Let's do a couple of memes, right? This woman crying, Babe, will you please sell so we're millionaires?
	And the guy says, No, we must make them pay.
	It's great. Must make them pay.
	That's right. We have a whole group of younger people now who are accelerationists, who want to bring down the existing capitalist system.
	I mean, peacefully and financially and all of that.
	They want to bring this thing down. Yeah, I get it.
	Because they were hoping for reform through Trump, and they didn't get reform through Trump.
	A lot of them believe the election was stolen, and they can't get any jobs.
	They can't get their lives going.
	They can't have children. They can't have a family.
	They can't get their political will.
	So it's like, okay, you understand.
	People don't just stop when they feel oppressed.
	They'll just find other ways of getting shit done, right?
	That's what will happen. Always and forever.
	Now, so another thing, of course, that's happened.
	Look at that. I was so excited to talk to you guys.
	I forgot all about basic 101 of...
	Let's throw a little light on the subject.
	Let's throw a little light on the subject.
	All right. Let me just check here for comments before we get into the last bit about how they just kind of made the decisions for you.
	What do you think is going to happen in Congress?
	Following this. Very interesting.
	We'll get to that in a sec. Thank you for everything you do, Steph.
	The world is a better place because of your hard work.
	Well, thank you so much, my friend.
	I really appreciate that. FreeDomain.com forward slash donate.
	I would really appreciate support as well.
	So, here's what's been happening now.
	And I don't know the legality behind this.
	I don't know the thinking. I know some of the thinking behind this.
	So, On the app, the Robinhood app, trades have been executed without the permission of the user, as far as I understand it.
	Again, this is all pretty preliminary, and it seems to have something to do with...
	People who have got margins, right?
	That they're saying, oh, your margin is too big, and they've executed sales on people's behalf without their input.
	And some people have been complaining, again, whether this is true or not, I don't know.
	Some people have been complaining that the sales have occurred at a low point of the price during the day.
	Somebody says they got an email just corporate virtue signaling.
	Can you post the email here?
	No, you can't really. Man, the quality of the stream is good.
	I never thought Steph had so many wrinkles.
	Well, I'm going to be 55 this year, so I got some wrinkles.
	And this is only 720p.
	can you imagine me in 4k and it looked like a lunar landing doot doot doot thanks for everything steph in a free market what stops companies like coke and nestle from taking all the water in streams etc etc.
	Well, so that's a fine question.
	It goes all the way back.
	So if you think – there's two answers to this.
	The first is that, okay, if you think that big corporations like Nestle or Coke are so corrupt that they're going to screw with people and use all the power, then you've got to be anti-government because a government is far more – infinitely more powerful than a corporation because corporations only exist because of government fiat, right? And so if you're worried about the power of corporations, the last thing you should ever want is a government because what you're saying is – The accumulations of human beings who have influence get corrupt and destructive.
	Okay, well, then you want a free market organization which you can not buy from rather than the government that you can't escape, right?
	So whatever nefarious motives you ascribe to corporations apply a thousandfold to government.
	Like Nestle and Coke, they can't tax you, right?
	So that's number one. Number two is that, let's say you buy a house on a riverside, right?
	You've got to pay extra for that, right?
	Now, if somebody...
	Destroys the river, pollutes the river, dries up the river, dams the river, whatever it is, right?
	Then they've just destroyed probably half the value of your house.
	So it's a direct assault upon your property rights.
	Now... What you do, of course, when you buy the house in a free society, in a stateless society, and whenever you hear stateless, just think slaveless, right?
	In a stateless society, what you do, since everybody wants to maintain the value of the river, is you say, okay, I will buy this house, but I need a contract with an organization that is going to maintain the value of that house by protecting the river that runs past it.
	And so that company, what would happen is you'd say, okay, I will pay you 50 bucks a month for every single month that the river runs past my house and is clean and swimmable and fishable and pleasant smelling and beautiful and all that.
	I'll pay you 50, it could be 10 bucks a month, 50 bucks, whatever, some amount of money, 50 bucks a month, right?
	So what happens is that firm only makes an income as long as your stream or river is protected.
	So if anyone starts screwing around with it, they know that contractually you'll stop paying them, right?
	So they have whatever incentive it is to make sure that your river stays clean.
	You have a financial incentive.
	Listen, there's absolutely nothing you can do to...
	Guarantee good results other than voluntary financial incentives.
	That's the free market as a whole, voluntary financial incentives.
	Why do schools do such a bad job?
	Because they get paid whether they do a good job or a bad job.
	Why were Soviet cars and workers so inefficient and lazy?
	Because they didn't get a raise if they did better.
	As the old saying went in Russia, they pretend to pay us and we pretend to work.
	Direct, voluntary financial incentive is the only way to guarantee any possibility of positive and productive behavior.
	Okay? That's really, really important to understand.
	And anything you're worried about with regards to corporations, remember two things.
	Number one, corporations are created by the government to protect the wealthy classes.
	And two, whatever you're concerned about with corporations applies a thousand-fold to government.
	So thinking, oh, I'm scared of corporations, I need a government, is like saying, I'm concerned about getting a headache, so I've got to chop my own head off, right?
	Somebody says, I hope I get to your age as healthy and wise as you.
	Yeah, it's funny. I was just talking about this with my wife the other day.
	When I was a kid, there were these commercials.
	If you invest wisely and blah, blah, blah.
	Freedom 55. Freedom 55 was like the thing, right?
	Like, oh, you'd be 55 and there was always these attractive salt-and-pepper-haired men and women on a yacht or bowling in Barbados or whatever it is.
	Freedom 55. Freedom 55.
	And it's like, I'm going to be 55 this year.
	It's like... I'm not sure I'm really tasting deep the freedom.
	I mean, my daughter, just today, I was talking to my daughter about her younger memories and she says, you know, I've just turned 12.
	When I think about my early memories, do you know the people in them have masks?
	Do you know how awful that is?
	Do you know how awful that is?
	Fucking communists. I mean, you know how awful that is that my daughter has masks flowing backwards through time and attaching themselves like those fucking hand demons on alien movies.
	That masks are now flowing backwards through time and attaching themselves to her memory.
	She's losing the memory of faces.
	She's losing the memory of air.
	She's losing the memory of freedom.
	It's what we're doing. It's what we're doing.
	Steph, I usually miss the live shows, but listen to your podcast.
	Well, thank you very much. I appreciate that.
	I appreciate that. God, I hope Robin Hood gets screwed somehow, financially and hopefully criminally.
	Yeah, no, it's not. I mean, look, I'm sorry, man.
	I don't mean to burst your bubble and, you know, but hope is a four-letter word, man.
	Don't hope for health. Eat well and exercise.
	Don't hope for love.
	Become attractive and ask people that.
	Don't hope, man. Hope is a slave emotion.
	Hope is crossing your fingers because you don't feel you can achieve anything.
	Don't hope. I predict that there's nothing that's going to happen to these guys criminally.
	Are you kidding me? Do you know how much money the financial classes gives to Washington?
	I mean, it's like looking at the tech companies, right?
	The tech companies give so much money to Washington that the idea that that was ever going to be Section 230 reform?
	Accountability? No.
	Accountability? Accountability, that's for you and I. If we go five miles an hour too fast, that's accountability, man.
	We've got to be accountable.
	We've got to be accountable.
	Because responsibility and accountability.
	Accountability is for the livestock.
	It's not for the rulers. The whole point of being a ruler is you get to be a hypocritical, two-timing, two-faced asshole, and no one can do anything about it.
	That's shaking it in your face, right?
	That's the whole point of power is to be above the rules.
	And you've got to look at who's pulling the levers here, right?
	Now, Robin Hood had a mission statement called democratizing trading.
	And here we had, for once, in the godforsaken history of modern predatory bankster fascist capitalism, we had a flow of money from the ungodly wealthy to the mostly desperately poor.
	Like, a free market welfare state just did its thing!
	And people didn't steal!
	The welfare state is just theft.
	Theft from you, from me, from our kids, from the unborn.
	It's just straight up theft.
	It's a violent transfer of resources from those who aren't even here yet.
	At least the vampires can't target sperm and eggs.
	So, this was the welfare state.
	This was redistributionist in its essence from the wealthy.
	The sick wealthy. I mean, maybe I should pay more attention to money.
	I don't know. If I've got enough, I'm fine, right?
	Maybe I should hammer more for donations these days.
	It feels kind of rough, though. I know it's hard out there for people.
	But the people who are just like, it's never enough.
	It's never enough. The greed for more is gone from healthy growth through a straight-up society-destroying fucking spinal tumour.
	So here we had the welfare state.
	In the same way that Bitcoin is the welfare state, right?
	Because Bitcoin is a transfer from the wealthy to the less wealthy.
	Because when you invest in Bitcoin, you're not buying stocks and bonds and all of that which tends to accumulate to the wealthy.
	In the same way that I have democratized, so to speak, philosophy by speaking the language of your...
	How often do I use the words metaphysics, epistemology, metaphysics?
	I don't. I don't.
	And Socrates didn't either.
	The whole point is that philosophy should be for you.
	It should not be for an ivory tower.
	It should not be...
	When I was debating academics in philosophy, I would download their papers and I would read their papers and it was all just a...
	You know, it's a way of how to twist and torture language until it shits meaningless all over your face.
	Just a giant nothing burger of obfuscation and manipulative empty syllables that coil around you like a fucking anaconda.
	Except an anaconda is more graceful and blessing because it'll end your life quickly, whereas philosophers will end your life tortuously and slowly.
	So it's about the redistribution.
	The redistribution of wisdom from the elites to the masses is that's my pipeline, man.
	That's my goal.
	I am the pipeline of wisdom from philosophy to actionable things in you.
	And this is why I get in so much trouble because I actually provide things that you can use.
	And this is what these guys in WallStreetBets did as well.
	They didn't just complain about the banking system.
	They didn't just complain about the Federal Reserve.
	What they did was they did something about it, which is why hats off to them.
	They just arrested Ricky Vaughan for posting memes about Hillary Clinton five years ago.
	Do you think they will mass arrest the Wall Street betters?
	Well, they'll probably cry and cook something up to discourage this stuff.
	Tyler writes, I think about my daughter growing up in this time a lot.
	I think about us never going to the movies or a concert or travel.
	I'm glad that my daughter got to see a good chunk of the world before it closed down.
	All right, started listening to your show, says Wiper.com.
	Started listening to your podcast in 2014 and would listen to the whole call-in shows while mowing grass on my parents' lawn.
	Good times, yeah. Wall Street didn't build that.
	Is there an audiobook for your anarchy books?
	Yes, there is audiobooks of all my books.
	They're all free. Art of the Argument is on Audible.
	Artoftheargument.com. But yeah, go to freedemand.com forward slash books.
	You've got mp3s. You can just download them and listen to them or you can listen to them on the website.
	Either way is fine.
	Fine with me. All right.
	Any other comments or questions?
	Should we just end up with the good old Janet Yellen?
	Good old Janet Yellen?
	Let me just see what the latest is.
	Now, yeah, she's the final boss, right?
	She's the final boss. So, Janet Yellen.
	This is from SGT Report.
	I think they really... Oh, from The Daily Caller.
	This is Chuck Ross from The Daily Caller.
	Janet Yellen received $810,000 in speaking fees from hedge fund embroiled in GameStop Saga.
	Treasury Secretary Janet Yellen received more than $800,000 in speaking fees from a hedge fund that has become embroiled in the saga over stock trades for a video game retailer GameStop, according to her financial disclosures.
	Citadel, a hedge fund founded by Ken Griffin, a major GOP donor, paid Yellen $810,000 to speak at several events from October 2019 to October 2020, according to Yellen's filing for the Office of Government Ethics.
	The Office of Government Ethics.
	Oxymoronic, in the extreme.
	The Chicago-based hedge fund paid Yellen $292,500 for a speech on October 17, 2019.
	$292,500 for a speech.
	Holy shit.
	She must be...
	An ungodly good public speaker.
	Now, I mean, I think I'm an ungodly good public speaker.
	You can go and look up my speeches to a thousand people or more in Australia.
	I did a great job.
	Spoiler, I did not get paid US almost $300,000 for a fucking speech.
	She must be Cicero, Shakespeare, King Lear and Hamlet all rolled into one.
	To get, what, eight times the average salary for one fucking speech?
	I mean, she must juggle.
	She must tell uproarious jokes.
	She must have the insight of the gods to command almost $300,000 for one speech.
	It gets better.
	$180,000 for one speech on December 3rd, 2019, and...
	$337,500 to speak at a series of webinars.
	All right. Let me just translate that into Canadian monopoly money here, right?
	U-S-D-C-A-D. Okay, what do we got here?
	What do we got here?
	All right. That's $432,388 for speaking at a couple of webinars.
	That's a mansion in most places in America.
	Close to half a million dollars Canadian.
	I speak at a series of webinars.
	Boy, she's good.
	Woo! Woo! She must be so good.
	It's bone chilling just what an incredible speaker.
	I'm surprised that her speeches just don't get incredible views because she just must be so unbelievably good.
	Because it couldn't possibly be any kind of quid pro quo.
	It couldn't possibly be any kind of incestuous quasi-donation bullshit.
	It couldn't be anything wherein people look for easier treatment or inside information.
	It couldn't be anything like that, obviously, right?
	Citadel has invested heavily in Melvin Capital, a hedge fund that was reportedly on the brink of bankruptcy this week due to a surge in GameStop share prices.
	Citadel and another firm, 72Point, invested $2.75 billion into Melvin this week after it lost 30% of its capital, according to the Wall Street Journal.
	No.
	White House Press Secretary Jen Psaki said Wednesday that Yellen, who was confirmed by the Senate on Monday, is monitoring the situation.
	There is no indication that Yellen has intervened to help Citadel or Melvin or that she plans to, but calls are growing on all sides of the issue for more regulation from the federal government.
	Because, yeah, you know, we're only one extra regulatory book away from paradise.
	Some institutional investors and regulators have called for more scrutiny of platforms like Reddit and social media sites that have allowed users to plot out investment strategies en masse.
	Massachusetts Senator Elizabeth Warren asserted on Wednesday that hedge funds and other wealthy investors have long used the tactics deployed by the Reddit users investing in GameStop.
	She said for years the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price.
	She's called on the SEC and other regulators to wake up and do their jobs.
	Wake up and do their jobs.
	Spoiler. They don't wake up and do their jobs.
	No, see, I mean, they're busy.
	Well, they were very, very busy, of course, ignoring Bernie Madoff for many years.
	And other crimes. Other crimes.
	So Janet Yellen...
	What are they giving her $337,000 for?
	What are they giving her $337,000 for?
	I mean, why?
	Look, I don't...
	I mean, I get it from a, like, threw up in your mouth a little bit standpoint, but, you know, just think about it rationally.
	Maybe you're not there with me as far, but just think about this rationally.
	What could she say that's possibly worth $337,000?
	Right? Because, you know, she's the Treasury Secretary, right?
	So if she gives them information based on anything to do with her being the Treasury Secretary that's not public knowledge, that seems pretty bad.
	You know, so there are rumors now that some companies shorted the stock, GameStop, and then pressured certain outlets to stop the trading, knowing that that was going to collapse the price so they could make up something on Monday they lost on the short squeeze on this new price drop.
	I don't know if it's true or not.
	I don't know if it's true. I'm just saying rumors.
	I don't know if it's true or not. What is she going to say that is so incredibly valuable that she gets almost half a million dollars Canadian for a couple of webinars?
	If she has the kind of economic insight that's worth that staggering here's a house kind of money then shouldn't she be applying that kind of insight to her job as Treasury Secretary which means it should be shared with everyone which means nobody's going to pay her for a private speech Oh, it's like Hillary Clinton, right? Who got massive amounts of money giving speeches to banks and in Russia and other kinds of places.
	And then, when she was no longer Secretary of State and didn't become President, magically all these speaking opportunities just vanished!
	The fuck is she saying that's so unbelievably valuable that she's not sharing with anyone else?
	Oh, it's all so incestuous, says the Julie, and I can't help but agree.
	Of course. Of course.
	of course it is terrible terrible stuff alright what else have we got here What is it with evil Janets?
	I don't know. Speech in Melbourne was awesome.
	I was there. Thank you very much.
	I appreciate that. Janet Yellen says someone provides zero value to plebs, only the banking insiders.
	I've got to change careers. See, here's the thing, right?
	So let's say that the, you know, Joe Biden, like, just mass slaughtered eventually hundreds of thousands of jobs by banning fracking on federal lands and interfering with other people's capacities to make money.
	And do you know what he said? He's like, oh, they can find other jobs.
	You know, maybe they can get jobs installing solar panels, right?
	Okay. Apparently, learn to code is fine now.
	Okay, so these hedge fund managers...
	Maybe they can get jobs as mathematicians or engineers, or maybe they can learn how to install solar fucking panels.
	Why is it that they can't possibly retool themselves for any other job if they get outsmarted by a bunch of people whose names couldn't be repeated on a children's show?
	Maybe they're in the wrong job, maybe in the wrong gig, right?
	Take a look at Bill Clinton's speeches.
	Oh yeah, absolutely. I could pay my house off twice with that amount.
	One speech.
	Here's 300k for a couple of speeches.
	By the way, have you met my friend?
	Yeah, yeah. But at least they eventually got made off, right?
	Well, they knew about it a long time earlier.
	Has Wall Street Bets found the Death Star exhaust port?
	Right. They dealt a blow, but the entire system is colluding to prevent it from being a mortal blow.
	Sure. Absolutely. Absolutely.
	Thank you, Steph. You are a gift to us all.
	I appreciate that. It's not free.
	Freedomain.com forward slash donate.
	I would appreciate that. Wall Street bankers are calling on Yellen to shut it down.
	That could be. Could be.
	Biden will bail out the hedge funds and prosecute Reddit traders.
	Watch for it. Well, yeah.
	Okay. So, look. Hate the play.
	I hate the game. It's the sort of final thing I wanted to say.
	And I really, really appreciate everyone dropping by today.
	It's a real pleasure to chat with you guys.
	Again, it's a real privilege and a real honor.
	And I thank you so much for your support.
	And, you know, please share the speeches and don't succumb to the trolls who call me a bad guy.
	I mean, it's inevitable that evil people think that good people are evil, but you don't have to fall for it, right?
	So, do you hate the player or do you hate the game?
	So look, if you were losing a billion dollars and you could make a phone call and make it stop, wouldn't you?
	I mean, wouldn't you?
	Come on. If you knew nothing bad was going to happen to you, if it couldn't be traced, and even if it was found out, nobody was ever going to come after you, you could make one phone call and it would prevent the loss of a billion dollars.
	What are you going to do? Are you not going to make that phone call?
	If you could make a phone call to a reporter and say, well, I don't know, I think it's a bunch of Alt-right white supremacists who are profiting from this.
	And here's some screenshots. If you could do that and that would help stop the bleeding, wouldn't you?
	Human beings cannot handle power.
	We need it too much.
	We get too much dopamine from it.
	It's well documented that political power, gaining power over others, gives us a massive dopamine hit.
	We are literally addicted to power.
	Which is why it doesn't stop.
	Why the left always goes too far and we're addicted to power.
	We can't handle it.
	I've never even smoked marijuana.
	I've never done any drugs. Why?
	Because either I like them, in which case my life gets screwed up, or I don't like them, in which case why bother?
	And for most of my life it was illegal, but...
	So why? And in the same way, I mean, I've done this show that's been massively influential, has reached millions and millions of people.
	My books have been read 10 million times.
	I've had three quarters of a billion views and downloads at least.
	Certainly one of the most influential, up until, you know, I got sort of yeeted off a lot of platforms this year, certainly one of the most influential intellectuals in the modern world, and really throughout all the human history, largely as a result of the technology that's available today.
	So... With great power comes great responsibility.
	I have a great... A lot of people think that I have a fair amount of authority.
	They respect what it is that I have to say, which is why, long before I did this show, and certainly when I started talking to people one-on-one about things, I made a vow to myself, never going to tell people what to do.
	Never going to tell people what to do.
	And you'll notice, I haven't told anyone what to do, and I never will.
	Well, one time I did.
	One time I did. The guy was drinking himself to death, and he had...
	Three kids. No, four kids.
	And he was drinking himself to death.
	I can't handle power.
	So, I don't use power.
	I don't accept power. I won't deploy or inflict power.
	Because either I don't like it, in which case, why do it?
	Or I really love it, in which case, I get corrupted.
	You just, you don't do it.
	Like, if you are the child of alcoholics, seriously, don't touch alcohol.
	Pull a straight-on Dr.
	Phil. Do not touch alcohol.
	You may have a susceptibility.
	You probably do. Don't do it.
	Don't drink. Now, we're all powerholics, right?
	We're power junkies. It's in the genetics, not just us.
	Bonobos is the same way.
	Somebody climbs up the social pecking order in bonobo land, they get additional dopamine and hang on to that like grim fucking death.
	We're addicted to power.
	We as biological organisms, it happens, as Jordan Peterson famously pointed out, it happens to lobsters.
	Lobsters get serotonin rewards for domination.
	All who live are power junkies.
	Everyone. You, me, everyone.
	We are all power junkies.
	So you have to stay away from the drug.
	Now, if you can make a phone call and save $50 million, $100 million, half a billion, whatever.
	You can make a phone call and save that money, you will make that phone call.
	Now, maybe you'll say to yourself, well, I wouldn't make that phone call.
	Okay, maybe you're one of the rare people who wouldn't make that phone call.
	In which case, you understand, you'll never be in the position.
	Because the only people who get to those positions are the people who will make the fucking call.
	You understand? The only people who end up in the position to make that decision are the people who will make the call every single time.
	The people who are saying, oh, well, maybe what these Redditors did was illegal and it was collusion.
	Of course they're going to say that.
	What are they going to say?
	We were greedy idiots?
	They're not going to say that.
	Because that's a loss of status.
	And people experience a loss of status like a cocaine addict experiences the loss of his drug.
	It's agony. You go into withdrawal.
	That's why you don't touch this shit.
	You don't touch...
	The demon cock of power.
	You don't do it.
	It's a serotonin transmitted illness.
	It's an STI. It will corrupt you.
	It will corrupt me. I'm beyond temptation, which is why people insult me and slander me rather than tempt me.
	Because I won't touch power.
	I will not touch power.
	So, when you have the capacity to make a phone call and save $100 million, the only people who are ever in that position are people who make the phone call.
	Because if you say, well, I won't make the phone call, you'll never get promoted to that position.
	You'll get kicked out of the company, most likely.
	And I have some not inconsiderable personal experience with this.
	You tell the truth. You...
	Speak the truth and shame the devil as I was raised.
	They won't let you have power for very long if you're not willing to abuse it because that's the whole point of power.
	The biggest ape fucks the most females.
	That's the whole point of being the biggest ape.
	If you're the biggest state, but don't fuck the most females, then there's no point being big and your genes won't get transmitted and something else like some slittery little half pretend to be gay cuttlefish will slither past the big cuttlefish pretending to be gay or pretending to be a female and mate with the ladies.
	The state, central banking, money printing, regulatory powers, the powers of coercion, the power to summon money from nothing and type whatever you want into your own bank account, the power to call on the airstrike of the power to summon money from nothing and type whatever you want into your own bank account, the power to call on the airstrike of regulatory agencies
	we'll never ever be able to handle that power.
	And again, you may be like me.
	Like, I won't go anywhere near that power, which is why nobody's saying to me, Steph, make that phone call, save us $100 million.
	I'm not in that position because I don't want that power.
	So if you shun power, you'll never be part of the game.
	It corrupts everyone it touches.
	Power corrupts everyone it touches.
	And those who won't let power touch them We're not part of the game.
	We're outside the game.
	And the only way to get in the game is to get corrupted, no thank you.
	No thank you. I've seen what the power of beauty did to my own mother.
	She was beautiful and charismatic.
	I've seen what the power of beauty does to people.
	I've seen what the power of money has done to people.
	I don't know any politicians, thank God, but I can only imagine what the power of politics does to a human soul, who renders you a mouthpiece for covering up the most vast immoralities that who renders you a mouthpiece for covering up the most vast immoralities that can be conceived of by man or
	The only president to be impeached twice was the one who started no wars.
	The only president to be impeached twice The military industrial complex squats over the world like a gargantuan devil sucking gold out of the bleeding out arteries of the helpless.
	Wars have started to disassemble human beings for profit.
	The media lies and gouges out the eyes of the population so they can be let off cliffs into meat grinders for the profit of eternal vampires.
	You can't have slavery as an institution and say to the slave owners, be nice, be good, treat them beautifully.
	you Slavery as the institution is the problem, not the slave owner.
	The slave owner and the slave and the evils of the slave owner is the shadow cast by the institution.
	You can't move a shadow without moving the institution.
	You understand, right?
	If you're sitting under a tree, And you want shade.
	You don't try and pull the shade over to you.
	You've got to move. You've got to move.
	Power corrupts everyone.
	That is not a philosophical fact.
	That is a biological reality.
	Saying we are corrupted by power is like saying we are bipeds and mammals.
	It is an inviolate biological fact.
	And those of us who aren't corrupted by power will never have anything to do with power.
	So we're not in the game.
	We don't count as far as that goes.
	We can't stop that phone call.
	Just because we wouldn't make it doesn't mean it's not going to happen.
	In fact, it's going to happen because we're not going to make it.
	Because that's who gets promoted, not us.
	That is a basic fact.
	When you accept that fact, when you accept that fact, everything about life just kind of falls into place.
	Human beings can't handle power.
	This is why people say, well, I spank my kids.
	No, you beat your kids.
	Oh, I only give them a little tap.
	No, no, no. You can't handle power over your children.
	And hitting your children is exercising brute power over them.
	You must reason with your children because you can't handle power.
	Don't bully in your relationships.
	Don't pout. Don't be sucky.
	Don't slam drawers. Don't sigh.
	Don't be passive aggressive because you can't handle power.
	Stay away from it.
	We're all born of approximately four billion years of power addicts.
	If you had four billion years of alcoholism in your family, would you take a drink?
	Of course not. I saw how power corrupted teachers.
	I saw how power corrupted priests in some situations.
	When you avoid philosophy, it's because you wish to have the perceived power of irrationality.
	Because when you're philosophical, when you submit to reason and evidence, you lose power over others.
	You gain power over reality, truth, knowledge, facts, virtue.
	But those of my friends when I was young, when I first got into philosophy almost 40 years ago, those of my friends who scorned and rejected reason and evidence did so because they wished to retain the power of irrational action in their own life, the liberty, the freedom to act.
	In hypocritical and contradictory ways.
	Don't you fence me in with your facts, brother.
	Don't you subjugate me to your petty rules of reason and evidence and consistency.
	I wish to be free to have the power to do what I want without restraint, without conscription, without restriction.
	Freedom is what they wanted.
	Enslavement is what they got.
	I wish to be free of the pull of gravity, he says, running off a balcony.
	Well, he gets to be an inconsistent stain on the sidewalk.
	Freedom from reality is a surrender to death, whether it's physical, moral, spiritual, romantic, doesn't matter.
	The only way to push back against our lust for power is to subjugate ourselves to an external standard.
	The only way to stop wishing about the universe is to surrender to science.
	So you stop hoping for a better world and you can build it.
	For real.
	The people who want to give themselves the endless leash of freedom from rules, reason, objectivity, truth, the demands of consistent virtue, the demands of consistent virtue, integrity, the infinite leash is a noose.
	Thank you.
	You understand? The infinite leash, free of all restraint, is a noose.
	Because we can guide ourselves by one of two things in this world.
	This comes down to Nietzsche versus Aristotle.
	We can guide ourselves by one of two things in this world, my friends.
	Power Or philosophy.
	Power or philosophy.
	That's it. That's the only choices.
	And as we've lost philosophy and its cousin theology, as we've lost a higher standard of virtue, it's become a naked will to power.
	Will to power universe.
	Women will sell themselves for $6.99 On OnlyFans rather than reserving their nakedness and sexuality to build the foundation of a family instead of a loving husband making love to them.
	They have a cold robot electric eye spitting cash at them for nothing.
	For nothing. Because the power of female sexuality corrupts as much as the male lust for domination.
	Sexuality and domination, vanity and status are the two devils that take down human souls more than any other.
	More than any other.
	Live by reason and you escape the noose of the infinite leash.
	Live addicted to power And it would be more of a kindness if you only died inside.
	Live for power, and you become a pestilence that takes down your society.
	And as long as the state gives people this kind of power, it will rob them.
	Of any empathy, because when you have power over other human beings, the only way to achieve and maintain that is to look at them as less than human, to look at them as insects, to look at them as ants, to look at them as livestock.
	Do you think that a cattle farmer could drive herd milk and disassemble human beings for profit?
	No. Because he recognized that human beings are like himself.
	Only by dehumanizing can he dominate, exploit, and destroy.
	And that's what's happening.
	Because they wish to dominate the right-leaning Christians in America, they dehumanize them as Nazis, racists, white supremacists, white nationalists, whatever, right?
	Whatever garbage they can come up with.
	As long as we're fighting about racism, we're not actually dealing with the powers that be and how they're exploiting our future and pillaging ourselves.
	The economic bone marrow futures of our children.
	You lose your capacity for empathy.
	It's what you give up to gain power over others.
	And so, of course, the people who run these hedge funds, they look at what these redditors are doing and they can't see at all, at all, that is a totally fair play based upon the standards they themselves have created.
	The hedge fund managers say, well, geez, we should be able to make complex, coordinated financial decisions that profit us.
	But if other people do it, that's awful, that's terrible, that's unthinkable, heinous.
	Because they don't have any empathy.
	If you were in their shoes, dot, dot, dot.
	That's why I say, if you were in the shoes of somebody who could make a phone call, save $100 million, would you do that?
	Of course you would. And if you wouldn't, you wouldn't be in that position anyway, so it's kind of moot, right?
	You'd be living in the woods, or further out from the woods where I am, social media-wise these days, right?
	And when you lose your empathy, you can't love, you can't be loved, you can't connect with anyone, so of course, the power hollers you out, the same way any drug hollers you out.
	And when you're a drug addict, other people simply are, can you serve my drug addiction?
	Yes. Great. You have value to me in the moment.
	If you can't, no, fuck off.
	I'm not interested. Maybe I can steal from you.
	That's it. Human beings are just mechanisms by which you can gain the drug.
	They're not like you.
	They're not empathetic.
	You're not empathetic to them.
	You don't connect with them. They're just simply mechanisms for, neutral, or against you getting a hold of the drug.
	That's it. That's all they are.
	It's the same thing with power.
	Human beings either can subjugate you or you can subjugate to them to gain more power or they have no part of the equation.
	That's it. There's no equality.
	There's no empathy. There's no mirroring.
	There's no sensitivity. There's no humanity.
	And that's what you lose.
	That's why they say you gain power and you lose your soul.
	And you do. Empathy and the soul are the same thing.
	It's one thing we share. With each other and don't with the animals.
	All right. I miss the old Stephan.
	Crushing tonight! Let's leave the last word or two with you.
	Thank you for joining me tonight.
	A real pleasure. All right.
	Steph, fair points.
	Observant and profound.
	Thank you. Wars have started to implement Israel's foreign policy.
	I don't know about that. Ah, let's see here.
	This is a satisfactory way to get exposure to the largest part of the population.
	Most of us have been exposed to both of these viruses.
	Oh, that's a COVID thing.
	If you're a good pet, you're allowed to live, I think.
	Maybe, yeah, maybe. Yeah, he can be kind of a preacher sometimes.
	Good stuff. Powerful men are at fault for giving women power, so powerful men equals powerful woman equals destruction.
	No, it's nothing wrong.
	Look, women are corrupted by power as well.
	Women are just like men.
	We're corrupted by power. It may be slightly different in certain ways, but it's the state that's made the problem.
	DHS will use this as yet another opportunity to go after right-wingers for attacking our sacred financial institutions, financial terrorism.
	Yeah, it could be. How can I donate one lemon?
	I'm sorry you can't because I've been demonetized by D-Life.
	4chan is calling it the dollar cost.
	Well, that's pretty funny. This is not the content I was looking for.
	No, I guess keep looking. Thank you, Stefan.
	I very much appreciate your analysis on these topics.
	Well, thank you. I appreciate that.
	And thank you everyone so much for dropping by tonight.
	A great pleasure to chat with you.
	And I will keep you guys posted.
	Don't forget to drop by at 4 o'clock tomorrow, Eastern Standard Time, for my chat with Peter Schiff.
	And have yourselves a great evening.
	Lots of love from up here.
	And stay safe, stay alert, stay informed, stay aware.
	And stay, if you can, supportive of what it is that I'm doing in these troubled times.
	I think it's unique. I think it's enormously helpful.
	And I do rely on you to a significant degree.
	So freedomain.com forward slash donate.

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