Speaker 1: What's up And welcome back to another episode of No
Speaker 1: Sealers Podcast with your hosts Now fuck That with your
Speaker 1: loaw glasses Malone. How I plan to release my projects
Speaker 1: in the future is and four different version right, like
Speaker 1: a vinyl version which is like forty six minutes or less,
Speaker 1: sure cossette version which is like sixty minutes or less,
Speaker 1: a CD version that's seventy four minutes, and a playlist
Speaker 1: version up to ninety minutes. So imagine like how I write,
Speaker 1: you know already, like before I even learned sonics and shit,
Speaker 1: I used to write a lot of my stories, like
Speaker 1: you know, I mean, I'm innately, I'm a storyteller. And
Speaker 1: then I just been working on my skills, write different
Speaker 1: books I read to build my skills, talking to legends
Speaker 1: about it, blah blah blah. But it's like a film,
Speaker 1: you know how some films you watch they have extended
Speaker 1: versions of it or extra scenes that was missing. I
Speaker 1: feel like it would be like that. And so as
Speaker 1: a storyteller, that's really a pillar to me because it
Speaker 1: helps me extend the story. Like it may have the
Speaker 1: same beginning, it had the same beginning, it may have
Speaker 1: the same climax and it may have the same ending,
Speaker 1: but how I get there can be extended different takes,
Speaker 1: so I add different songs. But it also business level
Speaker 1: would give my fans a chance to just support me
Speaker 1: in like four different ways, so they not just like
Speaker 1: okay if they buy the vinyl and then I released
Speaker 1: the cassette next, Like let's say I released a vinyl
Speaker 1: and then the vinyls is out for a month by itself.
Speaker 1: Then the next month is the cassette version, right from
Speaker 1: the follow up month is the CD version, and then
Speaker 1: it goes to playlist and it has everything on that.
Speaker 2: I didn't realize. Like books and stuff still do that.
Speaker 2: Like author who come out with like even like scholarly
Speaker 2: kind of type of books will have the first edition
Speaker 2: and then like second editions or you know ed amended editions,
Speaker 2: you know, down the line on books.
Speaker 1: I didn't know that. I thought that like the first
Speaker 1: and second edition when they just changed the coverage.
Speaker 2: Maybe, I mean, I don't that wasn't really how it
Speaker 2: was being described, like it's one of author I I
Speaker 2: was listening to do an interview, and I know that
Speaker 2: like for sure, I know like Tom Sole has done
Speaker 2: like updated versions of like I'll call it with the
Speaker 2: book and like I don't know, two thousand and eleven,
Speaker 2: and then they'll come up with like an updated version
Speaker 2: with like even more up like up to date data
Speaker 2: to support a point in like twenty thirteen or something.
Speaker 1: Yeah, I thought it was always when like maybe this
Speaker 1: printing press stopped doing it and then they had to
Speaker 1: go to a different printing press and edition. So that's dope,
Speaker 1: I got. What's great is when you feel like you
Speaker 1: created a new idea and you're like, damn, this is
Speaker 1: new and how it's people gonna take it? But then
Speaker 1: you realize somebody else kind of did something significantly close,
Speaker 1: so you get more comfortable, and you also get the
Speaker 1: reference of that person who experienced that shit the first time.
Speaker 1: So it's dope, you know what I mean. And I'm
Speaker 1: excited about doing that ship. I mean the podcast too.
Speaker 2: Yeah, find you can do alternate endings, you can do
Speaker 2: you can there's a lot of there's a lot of
Speaker 2: stuff you can do.
Speaker 1: With that man, especially like I've been working on this
Speaker 1: idea called Storytime. I want Ice Teeth executive produce it
Speaker 1: with me. But like I want to do like so
Speaker 1: many like stories on the album, but like I'm getting
Speaker 1: a lot of pressure to turn it into one overall story,
Speaker 1: and I'm like that shit is hard.
Speaker 2: You know, I told you on a podcast a while ago,
Speaker 2: you should say fuck the hooks and just come out
Speaker 2: with a giant bar song that's a whole story. That's
Speaker 2: a forty five minute song.
Speaker 1: Yeah, that's not whatever. Like that's more like like roysterefive
Speaker 1: nine and Joe Budden's and Crooked Eye. That ain't glass
Speaker 1: Glasses is more like I said, it was storyteller. But
Speaker 1: how do you put twelve stories together to make one
Speaker 1: fucking album? It's crazy Like that ain't no punk shit
Speaker 1: because it can come across hellic corny if you don't
Speaker 1: get it right. And to write a story like I've
Speaker 1: wrote different stories, like I wrote screenplays and synopsis that
Speaker 1: I sold. But to write a fucking album like that,
Speaker 1: maybe I wouldn't even know how to approach it. I've
Speaker 1: never seen it done, so i'd be the first person.
Speaker 1: Maybe I need to start asking about it so I
Speaker 1: can't be the first person who knows.
Speaker 2: Otherwise I'm just gonna have to, you know, break out
Speaker 2: my novice penmanship and just buy a YouTube beat or
Speaker 2: whatever the fuck. It just do a whole.
Speaker 1: Rapid just yeah, just what would your rap name be?
Speaker 2: Sh I mean, I can only be Rose Gold or
Speaker 2: maybe everybody else got like numbers and ship in their name.
Speaker 2: I could be like Rose Gold Primero or something everybody else.
Speaker 2: I'm the first Rose Gold.
Speaker 1: I like that. That's clear, that's witty, Rose Mad, that's
Speaker 1: all Rose pretty mad. You had you had to lose
Speaker 1: gold to just call it your stuff out of yourself
Speaker 1: roads as a rapper, big row. Yeah, and then you
Speaker 1: gotta wear what's crazy is I was looking at this.
Speaker 1: I was looking at YouTube from Soul Train, and I
Speaker 1: was thinking about what made people look like stars? And
Speaker 1: you know, I was looking at it was different cast
Speaker 1: from Philadelphia. It was the old J's. They from Ohio.
Speaker 1: That's a well, I think they from Ohio. I don't
Speaker 1: know what OJ's from, but I know you think they
Speaker 1: were born in yo Oio. So yeah, so I'm thinking
Speaker 1: about that. But I noticed all of those old groups,
Speaker 1: whether it's very white, you know, in the Love Unlimited Orchestra,
Speaker 1: the old Jas, Harold Melvin and the Blue Notes, they
Speaker 1: would all have custom suits on, Like no nigga should
Speaker 1: be walking down and street and look like them niggas.
Speaker 2: They looked like a bride and brides maids very often.
Speaker 1: Don't get me wrong. You could look in the soul
Speaker 1: trained crowd to see people were dressed, but they definitely
Speaker 1: wasn't wearing no shit like them dudes was. And I
Speaker 1: think that's why the stars shine brighter at that time.
Speaker 2: Yeah, I mean even I think back in the day
Speaker 2: like they used like Jackson five was you know, custom
Speaker 2: and you know, synced up.
Speaker 1: I wonder, how would you do that as a rapper
Speaker 1: because you wear jeans or you know what I mean,
Speaker 1: Like do you go get custom tennis shoes? You know
Speaker 1: what I mean? Like if you were trying to do
Speaker 1: that as a rapper, what does that look like?
Speaker 2: I think, quite honestly, that was basically done through the chains.
Speaker 2: Everybody's chain was largely tied to their own logo, their
Speaker 2: own brand identity. I think the first really one or
Speaker 2: two to do it was like the where there was
Speaker 2: a crew of actual artists was like the cash money
Speaker 2: and the no limit chains, and a lot of people
Speaker 2: have those for a long time. It's kind of antiquated.
Speaker 1: But yeah, but if you go down from a complete
Speaker 1: outfit to just a fucking necklace, cause that that's why
Speaker 1: the stars don't shine. It's bright.
Speaker 2: It's true.
Speaker 1: It's true. The Budgets was crazy, you know, which kind
Speaker 1: of brings me to what I want to talk to
Speaker 1: you about that the Budgets at that time. But no siilings,
Speaker 1: gl I know how we do this thing here? Like
Speaker 1: the season is the season three is almost over, so
Speaker 1: everybody that been fucking with us for three seasons, we're
Speaker 1: definitely gonna wrap it up for season four. We started
Speaker 1: a little late this season because I had that for
Speaker 1: Tellor tendon reconstruction surgery. So we're not gonna take no
Speaker 1: breaks off. You know, We're finna go right into season four.
Speaker 1: You know, starting looks like in February, and we're just
Speaker 1: gonna pipe it up. On the visual side, you know
Speaker 1: what I mean, I'm trying to figure out how to
Speaker 1: make it work because Pete is in Miami and I'm here.
Speaker 1: It's cool when we had a girls do it sometime,
Speaker 1: but me and Pete, you know, I need to make
Speaker 1: sure I got a camera because the girls can be
Speaker 1: with the camera, but I got to figure out a
Speaker 1: way to get Pete on camera in real time. I
Speaker 1: think we got the audio situation together because we both
Speaker 1: sound clear, but I need to make sure that our
Speaker 1: visuals as we start to market through YouTube podcast, our
Speaker 1: visuals are SYNCD up at that same high quality. So
Speaker 1: I've been looking at different stuff. And Pete just left
Speaker 1: right now when we were just talking about the audios,
Speaker 1: which is crazy. But the term of Ford, the term
Speaker 1: of Ford, Pete, is the term I wanted to talk
Speaker 1: to you about.
Speaker 2: And we can't afford anything.
Speaker 1: No, because you're you into financing, man, as you into finances, right, Yeah,
Speaker 1: I mean I thought it would be dope to have
Speaker 1: this conversation with you. Like one thing about it's gonna
Speaker 1: sound racist, and it probably is, or it's not racist,
Speaker 1: it's really prejudiced or is it. It's a stereotype that
Speaker 1: I would assume as a white person, you're just better
Speaker 1: with money, or you understand money better because when we
Speaker 1: talk about money, like I talk to you about money
Speaker 1: in ways and I never talked to none of my
Speaker 1: friends about money.
Speaker 2: Yeah. Some of that's like you know, like my family
Speaker 2: in particular, like my dad's you know, like a financial
Speaker 2: consultant and stuff like that, so I get a lot
Speaker 2: of that. But yeah, I mean there's there's broadly speaking
Speaker 2: and there's certainly a gap there. And there's also one
Speaker 2: thing I've noticed for sure, aside from just in so
Speaker 2: far as like you know, quote unquote financial literacy goes
Speaker 2: amongst different communities in the country, there's and I think
Speaker 2: it's kind of really this is where it kind of
Speaker 2: it starts. I from my observations, feel like culturally, like
Speaker 2: white people maybe are more like save oriented and less
Speaker 2: like spend it stunt oriented. So therefore, because of that,
Speaker 2: they're looking for shit to do with their money that's
Speaker 2: not of the spend a variety.
Speaker 1: You know. Well, I guess it gets tricky. Well, let
Speaker 1: me get to that word afford have enough money to
Speaker 1: pay for And I think, yeah, so that's shaky in
Speaker 1: multiple ways, right because I get that concept. But to me,
Speaker 1: if you're in debt, then the money you have you
Speaker 1: don't have it. Yeah, it makes sense. So like, let's
Speaker 1: say if you have one thousand dollars because and you
Speaker 1: wanted to go buy a watch that cost a thousand dollars, right, right,
Speaker 1: But you have a credit card and your credit card
Speaker 1: is three thousand dollars limit. But you got a thousand
Speaker 1: dollars you know what I mean? You got a thousand
Speaker 1: dollars a thousand dollar bill on it, you really can
Speaker 1: afford that watch. So even if if all your bills
Speaker 1: is paid right, Let's say it's a second you paid
Speaker 1: all your bills and you have one thousand dollars left, right,
Speaker 1: and you have a thousand dollar bill on your credit card,
Speaker 1: and you want this watch that costs one thousand dollars.
Speaker 1: Even though this is really hella thin, for sure, you
Speaker 1: can't afford that watch. Lord knows if you need more
Speaker 1: money to buy food during a month, But I'm saying,
Speaker 1: if you just had an extra thousand dollars, count it
Speaker 1: outside of your gas to get to work, counted outside
Speaker 1: of you maintaining your lifestyle for that whole month till
Speaker 1: you get your check to do it again, you have
Speaker 1: one thousand dollars and watch costs one thousand dollars with
Speaker 1: your credit card bill, you can't afford that. And I
Speaker 1: think that's what goes wrong with how you know, when
Speaker 1: you don't have financial literacy and you grow up like this,
Speaker 1: you don't get how it works, right or this is
Speaker 1: gonna sound weird too, right, Like I had this thing
Speaker 1: going to like the last ten years where I'm tired
Speaker 1: of rappers bragging about their credit score, and I'm like,
Speaker 1: nothing special about.
Speaker 2: Your rappers brag about their credit score?
Speaker 1: Yeah? Or people in general, like.
Speaker 2: People in general, I never heard a rapper talk about
Speaker 2: their credit score before. Sure, maybe in an interview or
Speaker 2: something like that.
Speaker 1: Sure, but to some degree they bragged about it. Even
Speaker 1: culture that's become a bragging point is credit score, And
Speaker 1: it's like, what is there to brag about your ability
Speaker 1: to borrow money?
Speaker 2: I agree people don't understand and there's ambiguity and subjectivity
Speaker 2: around the word afford because people don't either a for sure,
Speaker 2: they don't have a consensus on but they also in
Speaker 2: a lot of cases do not understand the meaning in
Speaker 2: application of the word cost. If money is a transactional
Speaker 2: metric of time, they don't appreciate what that like. Say,
Speaker 2: you go back to your thousand dollars thing, Okay, well, yeah,
Speaker 2: I can afford to burn my thousand dollars on this
Speaker 2: credit card down for this watch and still have a
Speaker 2: thousand dollars in cash for my bills for next month.
Speaker 2: You have to then your time now is going towards
Speaker 2: paying for that watch, plus the interest on the watch
Speaker 2: or whatever. At the expense of anything else you might
Speaker 2: have done with that money. So how much of your
Speaker 2: life is that watch worth to you? To some people,
Speaker 2: it's worth the world. Some people, it's like, Eh.
Speaker 1: I had this conversation with somebody really close to me,
Speaker 1: and I was explaining to them that they believe the
Speaker 1: Kardashians lived this life where they just frugally jump on jets,
Speaker 1: like they made this kind of money to where they
Speaker 1: frugally jump on jets and just do all this random activities.
Speaker 1: And I'm like, wealthy people don't live like that. And
Speaker 1: they couldn't really understand what I was saying because television
Speaker 1: has programmed most normal people's percession of what wealth is. Like,
Speaker 1: they don't really have any idea how wealthy people live.
Speaker 1: They know how upper middle class people live, even people
Speaker 1: who we could consider rich, you know what I mean,
Speaker 1: they got more than the average American, right, but they
Speaker 1: have no idea how wealthy people live. Like if you
Speaker 1: drive us through Paloverti, you know Rancho Palos verty and
Speaker 1: you see Prius in the yard. You see five to
Speaker 1: fifteen million dollar houses with Prius and Civics and Volts,
Speaker 1: you know, electric cars in the yard. And I'll never
Speaker 1: forget you know, I never aspired or y'ah, never aspired
Speaker 1: aspired to have like this big house. Like I always
Speaker 1: thought about the tax Like even now that I'm earning,
Speaker 1: you know, I could put myself in a position to
Speaker 1: have a three million dollar home, and well I haven't
Speaker 1: in the next twelve months, right, But all I think about,
Speaker 1: Pete is for the rest of my life. Right, if
Speaker 1: the house is three million dollars, and if the state
Speaker 1: that the real estate taxes annually in America is one
Speaker 1: in a quarter, right, all I'm thinking about is thirty
Speaker 1: thousand a quarter of that's seventy five hundred. So every
Speaker 1: month for the rest of my life, I will have
Speaker 1: to come up with roughly three thousand plus dollars just
Speaker 1: to pay the taxes on the house. That's how I've
Speaker 1: always thought, because since I was like fourteen, so I
Speaker 1: always looked at a house that was three hundred thousand
Speaker 1: because I'm like, okay, if I have a child. Now
Speaker 1: this is back when three hundred thousand we got you
Speaker 1: out slate with, not today's three hundred thousand, the whole
Speaker 1: three hundred thousand, But I'm okay if I have a child, right,
Speaker 1: And I give him a three hundred thousand dollars house, right,
Speaker 1: and it's at one in a quarter I'm counting, right,
Speaker 1: I'm like, okay, well that's three thousand dollars for thirty
Speaker 1: thousand dollars plus a quarter, right, which is seventy five.
Speaker 1: Well that's not that bad, right. All they would have
Speaker 1: to make is was that.
Speaker 2: It's a few hundred a month.
Speaker 1: That's it. Yeah, you know what I'm saying. And that's
Speaker 1: how I saw it, Like I just I never saw
Speaker 1: it any other way. Like I never saw like leaving
Speaker 1: somebody with a huge tax bill as a thing. But
Speaker 1: I've always thought about money that way. Sure, I've always
Speaker 1: thought about money that way. You know, do I want
Speaker 1: to leave you a three hundred dollars bill or do
Speaker 1: I want to leave you a three thousand dollars bill
Speaker 1: a month, something you're gonna have to sell and get
Speaker 1: rid of just to have a bunch of money that
Speaker 1: you're gonna lose, or something you can maintain and always
Speaker 1: have a place to stay. So, as somebody to me
Speaker 1: who was raised financial, financially literate, like yourself, what do
Speaker 1: you think the average person, you know, let's say, even
Speaker 1: in the culture like in hip hop, like right street
Speaker 1: urban culture. People that come up poor and don't get it.
Speaker 1: What do you think the number one mistake they make
Speaker 1: is like that that you heard you is like that
Speaker 1: shit is crazy, and it's the biggest myth of all financial.
Speaker 2: Literature, like singular action. It's hard to say. I think
Speaker 2: in general, the most common thing is people just don't
Speaker 2: have a plan. They don't have a clue. They just
Speaker 2: spend whatever money their job pays them, and that's what
Speaker 2: it is. And if they get some four oh one
Speaker 2: K diversion or pension diversion, that's what it is. I
Speaker 2: think the biggest issue is that it's just not anything
Speaker 2: that's on their mind. They don't have a clue. The
Speaker 2: other thing is people will buy houses on their lifetime,
Speaker 2: not on the market time. So I've known a lot
Speaker 2: of people break that down, like personally, for example, I
Speaker 2: came out of college in two thousand and seven. My
Speaker 2: girlfriend at the time had been out of college. This
Speaker 2: is two thousand and six. One of my best friends,
Speaker 2: but I used to stay with an Oakland. The girl
Speaker 2: and the friend separately each bought houses in like two
Speaker 2: thousand and six, something like that. I'm looking at this.
Speaker 1: Going crazy with George Bush.
Speaker 2: Yeah, and I'm looking at this going like, guys, what
Speaker 2: are you doing? And my guy friend was like, well, no,
Speaker 2: it's a great investor. This thing is gonna be worth
Speaker 2: But this was a house, a basic ass tract house
Speaker 2: in some town I had never heard of, in central
Speaker 2: California off the five Freeway. I fucking I couldn't even
Speaker 2: tell you. Between Fresno and Tracy.
Speaker 1: Got there a lot of it's a lot of small
Speaker 1: towns between them.
Speaker 2: It was. The town was called Patterson. It's a truck
Speaker 2: stop with a housing tract attached to it.
Speaker 1: Oh yeah, okay.
Speaker 2: He paid about a half for it.
Speaker 1: Wow.
Speaker 2: And I'm and I told him, I said, if that
Speaker 2: thing's gonna be worth a million dollars, I'm going to
Speaker 2: be spending ten dollars on a gallon of milk. That's
Speaker 2: the only way that's going to happen. And the girl
Speaker 2: wanted to buy a house because was her job at
Speaker 2: the time, would pay the closing cost. And I'm telling her,
Speaker 2: I'm like, you don't like paying a rent. The market
Speaker 2: is sky high, it's not gonna keep it like this.
Speaker 2: So because you're getting calmed, your closing costs for relocating.
Speaker 2: Her rent at the time was like one thousand a
Speaker 2: month or some shit like it was two thousand and six,
Speaker 2: and she was just like Santa Clarita, I'm like, it's
Speaker 2: like twelve grand. You would do twenty grand. I said.
Speaker 2: The swing on this house when the market comes down
Speaker 2: is gonna be two hundred thousand. She spent five hundred
Speaker 2: thousand on a damn house and was stuck with it.
Speaker 2: Her job was paying her plenty of money, so it
Speaker 2: was fine, but she was stuck underwater for like six years,
Speaker 2: you know. And I think a lot of people are like,
Speaker 2: I know, people, now, my goal is to buy a
Speaker 2: house before I'm fortier, before by that time I'm thirty five,
Speaker 2: I want to buy my house. Well, okay, I mean,
Speaker 2: if that's what's most important to you, was that goal,
Speaker 2: it might be painful. They say in general that most
Speaker 2: people you're the largest investments you ever make is your home,
Speaker 2: and statistically that's true. If the biggest investment you're going
Speaker 2: to make in your life is this one, you should
Speaker 2: probably do it with some sensitivity to the market.
Speaker 1: How does somebody who doesn't know anything about finances know
Speaker 1: when the right time is they would have to trust somebody,
Speaker 1: you know, they they'd have to trust somebody who was
Speaker 1: more or someone who could who seemed more financial literary
Speaker 1: than themselves do that.
Speaker 2: Then I remember talking to a relative of mine who
Speaker 2: had an issue with you know what they do. They
Speaker 2: took like a second out on a house or something
Speaker 2: like that and had a bad loan, right they don't
Speaker 2: have to sell the house. And they're like, man, have
Speaker 2: you seen those contracts? Like they're so complicated? And I
Speaker 2: was like, it's a what you take count like hundreds
Speaker 2: of thousands of dollars. You couldn't pay five hundred dollars
Speaker 2: to a lawyer to walk you through the contract.
Speaker 1: But you know, that's like an issue to trust people
Speaker 1: who seem like they want to swindle you for money
Speaker 1: in the first place, Right, Like, how.
Speaker 2: Do you if you're paying somebody for counsel? Just pay them,
Speaker 2: you know, just pay them for the information. Leave or
Speaker 2: get on the internet and start researching things to look
Speaker 2: at market cycles, look at trends, look at the way
Speaker 2: I mean, if it takes you, I mean, what's it
Speaker 2: worth to you? I mean, like, say you make a
Speaker 2: hundred thousand dollars mistake and you make fifty thousand dollars
Speaker 2: a year. It isn't worth twenty hours of your time
Speaker 2: to do some research for one hundred thousand dollars potentially.
Speaker 1: Great point, great fucking point. So right now is a
Speaker 1: bad time to buy a house, right if you're going
Speaker 1: to borrow money.
Speaker 2: Right now is like the most expensive time to buy
Speaker 2: a home ever because the market, like the houses are
Speaker 2: so high up, it's such low inventory. Prices are sky high,
Speaker 2: and they didn't adjust downward when interest rates went up
Speaker 2: because there's no inventory. So it's like relative to real wages,
Speaker 2: et cetera, various price indexes, it's like about the most
Speaker 2: expensive time to buy a home in like modern American history.
Speaker 1: So what has to happen at this point, Pete, Like,
Speaker 1: something has to happen, right, You can't have these ridiculously
Speaker 1: high prices cause and these ridiculously high interest rates. Something
Speaker 1: has to happen, right, Something has to happen. They can't.
Speaker 1: America just can't keep manufacturing enough money for people to
Speaker 1: pay these ridiculous mortagages, Like mortgage is, Like, my point is,
Speaker 1: I'm like, Yo, the next house I buy, I'm gonna
Speaker 1: pay for it, and everybody's gonna save your money you
Speaker 1: could know. I don't want to borrow four hundred thousand
Speaker 1: and pay back one million. I would rather pay the
Speaker 1: four hundred thousand, have thirty thousand, and figure out how
Speaker 1: to make eight hundred thousand over the next thirty years
Speaker 1: with the fucking money I have left. But what I
Speaker 1: don't want to do is finance. Like I was telling
Speaker 1: you this today, like I'm trying to. I'm so done
Speaker 1: being in debt completely. Like all my credit card bills
Speaker 1: are zeroed off, right, The cars I own, I own
Speaker 1: them all right? Right, the cars I own, I own
Speaker 1: them all right. The property I have at this point
Speaker 1: and be paid off next year whatever I buy, Like
Speaker 1: I'm telling you I want to buy a new truck.
Speaker 1: The truck is one hundred and forty thousand. I'm like, look,
Speaker 1: I can't afford to go walk in there and spend
Speaker 1: one hundred and forty thousand dollars. But I don't want
Speaker 1: to finance it. I don't care even if my rate
Speaker 1: is four percent to me, I can't afford it. Like
Speaker 1: I can probably afford the monthly payments. Let's say the
Speaker 1: monthly payments if I put down thirty and forty thousand,
Speaker 1: let's say the monthly payments is fifteen hundred. Yeah, it's
Speaker 1: fifteen hundred roughly, right. I can afford the fifteen hundred
Speaker 1: as far as I can manufacture the money every month,
Speaker 1: but I can't afford to live and do everything I
Speaker 1: want to gamble with in life or chances I want
Speaker 1: to take. If I take on that debt sure for
Speaker 1: a truck, that that while I want it, once I
Speaker 1: show it to my friends, I'm not gonna do what
Speaker 1: it takes to monetize it. So in my mind, even
Speaker 1: though I can pay the monthly payments, I can't walk
Speaker 1: in and just pay for it, you know what I mean.
Speaker 1: I don't have you know, if I have one hundred
Speaker 1: and forty thous that's all I got. I'm not taking
Speaker 1: no money on no house. Is not as serious because
Speaker 1: it's not something I'm looking to invest in, or it's
Speaker 1: a personal item that's just for me. Right, I'm not
Speaker 1: finna send it on the road to told cars, So
Speaker 1: I'm not buying ship. I'm not. I'm gonna figure out
Speaker 1: how to get a diesel pickup truck like I want
Speaker 1: right to drive around because I want the knowledge and
Speaker 1: the longevity of the truck. But I'm not fucking with
Speaker 1: none of that ship where they finna be financing no
Speaker 1: property or I'm not finding. I'm not finding. I'm not
Speaker 1: borrowing money on nothing but things I'm planning to make
Speaker 1: money off of. That's it borrowing money for record labels. Yeah,
Speaker 1: it looked like I probably end up doing a record deal.
Speaker 1: I'll borrow money for that. I'll borrow money for the
Speaker 1: cryptstore dot com because that's my business. I'm not borrowing
Speaker 1: money to buy that. I just want that's not worth anything.
Speaker 1: That means I need to make more money, you know
Speaker 1: what I mean. So like, even as I sign a
Speaker 1: record deal, I'm not going to buy another car no more. Now,
Speaker 1: I'm going to the record deal when I started making
Speaker 1: if it's meant I would start making the money I
Speaker 1: need to to be able to afford anything extra or
Speaker 1: luxury that I need.
Speaker 2: Yeah, yeah, that's and that makes sense. I think a
Speaker 2: lot of people are you know, you're you're you're limiting
Speaker 2: your exposure in that regard. You know, if you say, okay,
Speaker 2: at the very least, my basics don't cost me anything
Speaker 2: additional from what they otherwise would, so I can take
Speaker 2: my risk over here on the monetary side, or you
Speaker 2: would say I'm going to borrow on this stuff here
Speaker 2: and take my cat and try to do that on
Speaker 2: the business side, which still if it's your cash cash
Speaker 2: and the business goes under, now you're stuck owing on
Speaker 2: your basics. So if you're gonna be having risk on
Speaker 2: the business side, you should probably not have risk on
Speaker 2: the personal side. I get that, Okay.
Speaker 1: So even now, like right as I start to like
Speaker 1: I'm finished cash, who checks over the next eight months,
Speaker 1: I'm calling you, Pete, let's looking at a house over here.
Speaker 1: You know, I'm not even looking to make money. I'm like,
Speaker 1: I know if we get this, this is the storage
Speaker 1: of money. Yeah, Like I have you, I said, I
Speaker 1: call you, and you won't make sure whatever I buy,
Speaker 1: whatever we buy, if I buy it or we buy it,
Speaker 1: you're gonna be like, Okay, that money is there, sure,
Speaker 1: almost Like I can get a fucking credit card and
Speaker 1: that's that money from this house. Yep, there's not outside
Speaker 1: of emergencies. There's no reason for me to need this
Speaker 1: money if it makes money excellently. But I'm looking that
Speaker 1: ways to store money.
Speaker 2: Yeah, And because money is globally, like people talk about
Speaker 2: like the dollars strong against other currencies the way currencies
Speaker 2: have become because they're not tethered anything, and they're all
Speaker 2: losing value. It's like if you were flying in a
Speaker 2: little propeller plane you started throwing a bunch of objects
Speaker 2: out of the plane. You could throw it an anvil,
Speaker 2: you can throw a rock, you can throw a pillow,
Speaker 2: and you could throw a thing with a parachute attached
Speaker 2: to it. You know, they're all going to go down
Speaker 2: at different rates from the plane. You know, it doesn't
Speaker 2: mean that because the parachute's winning, because it's staying closer
Speaker 2: to the plane that it's not going down.
Speaker 1: So you sell even if you buy a house, you're
Speaker 1: want to lose money.
Speaker 2: No I'm saying that.
Speaker 1: I'm sorry, I'm missing.
Speaker 2: The pathway right now. Of what's happening with the with currency,
Speaker 2: with the dollar is the value is being sucked out
Speaker 2: of your dollars. So if you're sitting on cash, to
Speaker 2: sit on it, everything around it like the like price
Speaker 2: like it. Like if it was water. Let's say and
Speaker 2: you had your nest egg is in a big iron
Speaker 2: chest on the floor and now it's flooding. Well, your
Speaker 2: nest egg is staying there and the water level is
Speaker 2: going like this, So it's it's just it's just drifting
Speaker 2: further and further and further away from the surface, which
Speaker 2: is its purchase power.
Speaker 1: So if you just having the candies you're talking about.
Speaker 2: Yeah, you need like a value oracle. You need to
Speaker 2: buy anything else. I mean almost anything else. I mean
Speaker 2: there's stuff that's going to go up and down. So
Speaker 2: depending on how time is sensitive, you think your exit
Speaker 2: might be. But for sure, for sure you want to
Speaker 2: get out of cash. Your your money is losing value
Speaker 2: for sure.
Speaker 1: That's why I mean cash money.
Speaker 2: Yeah, if you just have cash sitting in the bank account,
Speaker 2: you're not earning anything on it.
Speaker 1: It's I can get it. Because if you had one
Speaker 1: million dollars in a A and a let's say not
Speaker 1: a savings account, you had it inside of one of
Speaker 1: those oh what's those things they have at the bank
Speaker 1: lock boxes?
Speaker 2: Oh, like a safe deposit box.
Speaker 1: Yeah. So if you had a million dollars cash in
Speaker 1: nineteen eighty two and then you win I mean nineteen
Speaker 1: eighty four, and now you're coming to pick it up
Speaker 1: forty years later, you fucked up because whatever you could
Speaker 1: have bought for a million dollars in nineteen eighty four.
Speaker 1: You can't get none of that shit in two thousand
Speaker 1: and four. Okay, so I'm not tripping. So so even
Speaker 1: though I'm not as financially literate as you, but my
Speaker 1: math madics is not failing me in the concept of like, Okay,
Speaker 1: it makes no sense to have dollars, like, let me
Speaker 1: look at properties, let me look at things that have
Speaker 1: to rise and do things with money itself, right, like you,
Speaker 1: no matter what, I'm going to have this money in
Speaker 1: this property. Like, don't get me wrong. You can invest
Speaker 1: in the wrong shit or lose it, but you know,
Speaker 1: having the right people around and say, okay, this right
Speaker 1: here is going to be worth this. Yeah, even if
Speaker 1: it doesn't gain one dollar, it's going to be worth this.
Speaker 1: And God willing, we could do a couple things and
Speaker 1: now make that money, you know, worth more money, or
Speaker 1: not even worth more money, literally adjust with inflation.
Speaker 2: My current book that I'm reading by my main man,
Speaker 2: George Gilder, The Scandal of Money, Why Wall Street recovers
Speaker 2: but the economy never does.
Speaker 1: I'm have to get that the greatest book.
Speaker 2: My god, it's it's work, but it's it's beautiful it's
Speaker 2: just I just love it.
Speaker 1: But with your financial literacy anymore, Yeah.
Speaker 2: Yeah, if you understand how to apply it, for sure,
Speaker 2: it's one of those things. I want to read that
Speaker 2: whole thing, soak it in and then start taking that
Speaker 2: to market, just to be a little bit better. But
Speaker 2: as far as predictive nature on the macro side, it
Speaker 2: really dials it in. It's it's it's a lot of theory,
Speaker 2: it's a lot of history, but it's informed it like,
Speaker 2: and it's written in such dense English. If this was
Speaker 2: like written to be read quickly, it'd be this thick.
Speaker 2: I mean, this is six hundred pages of literature and
Speaker 2: one hundred and eighty pages. But he talks about like
Speaker 2: value oracles and stuff like that. So you know, for
Speaker 2: a long time the dollar was pin to gold and
Speaker 2: we were taking off the gold standard, and you know,
Speaker 2: there's a lot of talk that now all these currencies
Speaker 2: are kind of floating and they're semi tied to each other.
Speaker 2: I mean, the problem is it's kind of like that
Speaker 2: airplane analogy. You took a bunch of different objects of
Speaker 2: different weights and shapes that might fall to the ground
Speaker 2: a different rate. They're all tied together kind of by
Speaker 2: the same rope where they're just kind of all drifting downward.
Speaker 2: One thing this points to is like gold value, so
Speaker 2: like gold pricing. He's this book says that the gold
Speaker 2: price of oil, meaning that if you were transacting in
Speaker 2: gold in nineteen seventy, as the dollar was pinned to gold,
Speaker 2: and you were buying gas, a gallon of a barrel
Speaker 2: of oil would be like two dollars and eighty nine
Speaker 2: cents today in gold prices. But the dollars drifted so
Speaker 2: far from gold that while gold isn't any more valuable
Speaker 2: relative to oil, it's way more valuable relative to dollars.
Speaker 2: So you might think everybody's brain thinks in dollars, right,
Speaker 2: which is natural. But if you just bought gold and
Speaker 2: you had a long term time exit strategy, eventually, over
Speaker 2: time you're gonna realize, wow, my gold has gained so
Speaker 2: much value. It's probably not so much the gold is
Speaker 2: more valuable today, it's just that your dollars are less
Speaker 2: valuable today.
Speaker 1: So why not buy the fucking oil? Like what why
Speaker 1: are we buying things that don't have a serviceable mean today?
Speaker 1: Need living like and I do think gold obviously they
Speaker 1: did need gold at a time, and gold has some value,
Speaker 1: but it's not fucking oil oil. Like if you had
Speaker 1: a fucking barrel of oil forty years ago and then
Speaker 1: you had that fucking barrel of oil today, that shit
Speaker 1: is out of this world. I mean, and I don't
Speaker 1: want to he was a term investment. I'm like, yeah,
Speaker 1: really sketchy about that word investment, right, but I'm saying,
Speaker 1: for sure, there's better ways to put your money up. Yeah,
Speaker 1: then just and go right.
Speaker 2: Put it this way, Like the US government is spending
Speaker 2: like four and a half trillion dollars a year right now,
Speaker 2: that money is going somewhere. The money, the expression is,
Speaker 2: the money has to find a home. So I was
Speaker 2: having a conversation today with my buddy Jamaica. Andre was
Speaker 2: talking about Biden keeps starting all these wars. The funny
Speaker 2: thing is Biden's paying for both sides of these wars. Sure,
Speaker 2: paying Russia and yeah, especially.
Speaker 1: Right now, all the winner owe you anyway.
Speaker 2: Yeah, But at the same time, it's all contract driven.
Speaker 2: The money has to have somewhere to go, you know.
Speaker 2: I've seen, like, however, money bazillions of dollars we spent
Speaker 2: on various green energy projects because they passed the bills
Speaker 2: and the money has to go somewhere. So really what's
Speaker 2: happening right now is like that to be two, you know,
Speaker 2: in the weeds. But they keep raising and raising and raising,
Speaker 2: like public employee pensions right just all the time, more
Speaker 2: and more and more. So what's happening is they pass
Speaker 2: a bill flood these commitments to raise these pension plans.
Speaker 2: The pension plans have managers. In the most common case,
Speaker 2: it's Black Rock, which is a giant fund that controls
Speaker 2: about ten trillion dollars as one singular fund of assets
Speaker 2: under custody, and they take that money and they buy
Speaker 2: stock at a bunch of different companies and the stocks
Speaker 2: go up. So like you know, you pass a low
Speaker 2: saying we have to make electric cars, throw a bunch
Speaker 2: of money into the market, and everyone takes that money
Speaker 2: and sends it over to Tesla to go buy the
Speaker 2: cars to prop up the stock because the money's losing value,
Speaker 2: so you got to put into something. That's just kind
Speaker 2: of the issue. The problem is, I think there is
Speaker 2: a major consumer culture issue right now in the country.
Speaker 2: The credit card that is like through the ceiling all time,
Speaker 2: so a lot of people got money to burn, and
Speaker 2: they're just burning it if they're not planting it.
Speaker 1: It's it's kind of hard to have a real conversation because,
Speaker 1: don't get me wrong, there's a there's a class of
Speaker 1: people in America that they don't even have the true
Speaker 1: position to plan economically. Sure, right, there's there's a there's
Speaker 1: a class of people. It's not a huge class, but
Speaker 1: a realistic class. Right. But what I'm thinking about is
Speaker 1: if everybody's great, this investment is a house, like right,
Speaker 1: and in a time like now where you shouldn't buy
Speaker 1: a house, you should just be preparing yourself to buy
Speaker 1: a house. But then how do you keep the dollars?
Speaker 1: Like you don't think that the the economy is getting
Speaker 1: really crazy to where like right now, if you're just
Speaker 1: saving money, right, you're like, Okay, this is not a
Speaker 1: great time to buy house. So I'm going to say
Speaker 1: four hundred dollars a month. But then by the end
Speaker 1: of the year you had forty eight hundred dollars. But
Speaker 1: now next year inflation has turned that forty eight hundred
Speaker 1: dollars into twenty two hundred dollars, Like you almost have
Speaker 1: to be And this is the problem with and I
Speaker 1: don't want to blame capitalism because I genuinely don't believe
Speaker 1: capitalism is no holds bar, and I think I keep
Speaker 1: hearing that, right. Me and Charlotmagne talk about this all
Speaker 1: the time, and he calls it compassionate compassionate capitalists, which
Speaker 1: don't even make sense. But I don't think capitalism is
Speaker 1: about selling out. You know what. Wealth has changed, And
Speaker 1: I guess that's the point I'm saying, Pete, wealth has
Speaker 1: changed wealth when when Hershey, the guy that started Hershey's
Speaker 1: in Hershey, Pennsylvania, they started to it wasn't just economics.
Speaker 1: It was like the respect you got amongst other human
Speaker 1: beings in your country, in your location, for being the
Speaker 1: center of an economy, you know, right here for so
Speaker 1: many thousands and thousands of people, right, That was a
Speaker 1: part of wealth. It was never just you know, I
Speaker 1: need a trillion dollars. It was like whatever, the surplus
Speaker 1: amount of money I made was cool, right, and the
Speaker 1: means that I can keep, Like we talked about it before,
Speaker 1: where you could the people started like Sam Walts and
Speaker 1: could keep trying to revolutionize the experience for human beings
Speaker 1: right in America and the other part of the wealth
Speaker 1: was like the fact that they were responsible for an
Speaker 1: economy of people fulfilling their dreams of owning a home,
Speaker 1: putting their kids in a separate situation to where they
Speaker 1: can go out and really take a shot to be Hershey,
Speaker 1: and now wealth for most human beings has been reduced
Speaker 1: down to just the amount of money you're making or
Speaker 1: this weird space of and culturally, this is another thing.
Speaker 1: When I say culturally, I'm not talking about blah blah blah.
Speaker 1: You know, I'm talking about street urban Whereas you have
Speaker 1: a term generational wealth where you got a bunch of
Speaker 1: people talking about leaving a bunch of money to kids.
Speaker 1: That don't really make sense because if you're making a
Speaker 1: living in that space, your kids should be being prepared
Speaker 1: to go out and do the same thing, so you
Speaker 1: shouldn't have to leave them. You should be able to
Speaker 1: take that kind of money and you know, once you
Speaker 1: pass away, take a minimal amount and give it to
Speaker 1: your family so they could keep pursuing the things you
Speaker 1: were showing them growing up. But also to a bunch
Speaker 1: of underprivileged people who didn't have you as a father
Speaker 1: right to go out and Okay, maybe this could help
Speaker 1: change one out of one hundred people's lives, you know,
Speaker 1: but you know, let's put it back into people who
Speaker 1: don't have any chance, who didn't grow up with these
Speaker 1: opportunities and advance, you know, positioning as let's say, my kid.
Speaker 1: But now it's just being switched to how much money
Speaker 1: you have, Like, so how do you combat that because
Speaker 1: at this point, like you're saving money forty eight hundred dollars,
Speaker 1: but the money is the inflation is so bad and
Speaker 1: the dollar bill is losing value so quickly that that
Speaker 1: forty eight hundred you saved in twenty twenty four might
Speaker 1: be worth twenty six hundred and twenty twenty five.
Speaker 2: Yeah, and that's the issue like with regard to you know,
Speaker 2: like I don't want to say like the scandal of
Speaker 2: money that in so far as the context of the book,
Speaker 2: but the phrase what's happening right now? That that's why
Speaker 2: you see these like macro terms about oh, biodnomics is
Speaker 2: doing so well. Look at the aggregate data of the
Speaker 2: performance of whatever you know index they're choosing from. The
Speaker 2: problem with that is surplus capital is being put into
Speaker 2: stuff that's exploding in value relative to the dollar. So
Speaker 2: the greater your ratio of wealth that is not confined
Speaker 2: to your primary sustenance. You're just it's amplifying the ability
Speaker 2: of people of greater wealth to just run the fuck
Speaker 2: away from people of minimal wealth, because if you're only
Speaker 2: able to put two percent of what you have in
Speaker 2: the you know, just like the Magnificent seven Stock Index,
Speaker 2: which is the seven tech companies that have taken on
Speaker 2: trillions of dollars in market capitalization value over the last
Speaker 2: year or two, like you only are going to get
Speaker 2: you know, you went from two percent to three percent,
Speaker 2: you know, whereas somebody else who took eighty percent of
Speaker 2: their wealth and put it into those things went from
Speaker 2: eighty percent to one hundred and twenty percent.
Speaker 1: You know.
Speaker 2: So yeah, it's it. It makes it really, really, really tough.
Speaker 2: And like I said, I'm in it. I'm not rolling
Speaker 2: in cash. I'm just pinching every nickels your shot.
Speaker 1: You're shooting your shot. You need one thing. Once you
Speaker 1: get one thing to hit, then you can reposition yourself,
Speaker 1: you know, within a within the opportunities.
Speaker 2: But I've whittled down my per diem expenses to like
Speaker 2: not a I mean I cooked a big old thing
Speaker 2: a jambalaya on Monday. It was good as fuck, but
Speaker 2: it cost me like thirty six dollars to do all
Speaker 2: the ingredients. Cooking from scratch every single day. I'm like
Speaker 2: peanut butter and honey sandwich, glass of milk cuban coffee
Speaker 2: for lunch, I'm making an earth for breakfast. I'm making
Speaker 2: an almele in the glass of orange juice at lunch,
Speaker 2: and then I'm having either whatever I cooked or whatever
Speaker 2: my leftovers are for dinner. So on a four day spread,
Speaker 2: my per diem is like I swear to God nine
Speaker 2: dollars for life per day. So what that enables me
Speaker 2: to be able to do? I could soak up some
Speaker 2: money and throw it into stuff. Dude. Side note, I
Speaker 2: got so fucked yesterday there was an announcement that and
Speaker 2: then they announcement came today. Anyway, I knew that was
Speaker 2: gonna happen anyhow, it was so stupid. So yesterday there's
Speaker 2: an announcement that this the SEC was going to approve
Speaker 2: bitcoiny fts. It's a lot of financial jargon making it
Speaker 2: legal for institutions to buy bitcoin drive the price a bitcoin.
Speaker 2: So I see that in an email and I go, oh, it. Crap,
Speaker 2: it's after hours. I'm going to do this right now.
Speaker 2: So I moved like eleven and a half grand over
Speaker 2: to do this. Before I did that, the previous email
Speaker 2: says SEC gets hacked, said SEC gets hacked. I'm like,
Speaker 2: I don't care where the SEC fuck them. The email
Speaker 2: I get afraid through the transaction says SEC Twitter hacked.
Speaker 2: I go, that's odd. I click on it. The announcement
Speaker 2: from the previous email that spurred me to make the
Speaker 2: purchase was apparently the result of their Twitter getting hacked
Speaker 2: and the announcement being put out falsely because I couldn't
Speaker 2: figure out after I bought it why the price kept
Speaker 2: going down and I'm losing hundreds of dollars before my
Speaker 2: very eyes, and then it was the result of a
Speaker 2: Twitter hack. So I'm like, fuck now I'm stuck with
Speaker 2: this shit. I got how long it would be stuck
Speaker 2: with this bitcoin till it goes back up and I
Speaker 2: can just get back to zero again. So I wake
Speaker 2: up in the morning and for whatever reason, they make
Speaker 2: an announcement. They say, oh no, no, we're going to prove it.
Speaker 2: So it goes back up. I sell it Crypto dot
Speaker 2: com from the name of that stupid arena downtown rips
Speaker 2: two percent out of my transaction, so my profit dissolves.
Speaker 2: But I ended up actually, I mean coming back to
Speaker 2: within a dollar of where I started. Through the whole
Speaker 2: Twitter face scam scandal, it was a joke. Stressed me
Speaker 2: out for like twelve hours.
Speaker 1: So stupid, I mean, try to risk it to get
Speaker 1: the biscuit. You know, if you're trying to hit in
Speaker 1: this world, if you're trying to hit, you probably gonna
Speaker 1: have to take some sick gambles.
Speaker 2: Sometimes I've taken a couple of them, man, taken a
Speaker 2: couple of them. But what you gotta do.
Speaker 1: Good looking out for tuning into the Note Sealers podcast.
Speaker 1: Please do us a favorite, subscribe, rate, comment, and share.
Speaker 1: This episode was recorded right here on the West coast
Speaker 1: of the USA and produced by my homeboys A King
Speaker 1: for the Black Effect Podcast Network and nine Heart Radio
Speaker 1: year