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Speaker 1: Cable news is ripping us apart, dividing the nation, making

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Speaker 1: it impossible to function as a society and to know

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Speaker 1: what is true and what is false. The good news

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Speaker 1: is that they're failing and they know it. That is

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Speaker 1: why we're building something new. Be part of creating a new, better, healthier,

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Speaker 1: and more trustworthy mainstream by becoming a Breaking Points Premium

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Speaker 1: member today at breakingpoints dot com. Your hard earned money

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Speaker 1: is going to help us build for the midterms and

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Speaker 1: the upcoming presidential election so we can provide unparalleled coverage

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Speaker 1: of what is sure to be one of the most

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Speaker 1: pivotal moments in American history. So what are you waiting for?

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Speaker 1: Go to Breakingpoints dot com to help us out. Good morning, everybody,

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Speaker 1: Happy Thursday. We have an amazing show for everybody today.

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Speaker 1: What do we have for Saul. Indeed, we do a

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Speaker 1: little bit of court TV here days, fun stuff. So

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Speaker 1: we have two verdicts and two significant trials that we

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Speaker 1: want to bring to you Number one Johnny Depp amber

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Speaker 1: Herds Right, we've got to give the people what they want.

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Speaker 1: I mean, so I have been, as a matter of principle,

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Speaker 1: opposed to following in depth what is going on here?

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Speaker 1: So basically, Sager's going to lay this out. I'm gonna

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Speaker 1: ask them some questions. We'll explain to you what the

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Speaker 1: verdict was and what it all means, if it means

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Speaker 1: anything at all, So we'll talk to you about that.

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Speaker 1: There was also another verdict in the trial of lawyer Susman.

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Speaker 1: This is part of the Durham inquiry, and so we've

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Speaker 1: got those details for you as well. He was Hillary

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Speaker 1: Clinton's lawyer. You guys probably remember some of the details

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Speaker 1: of that. We also have the Department of Justice the

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Speaker 1: very first charges of someone involved with NFTs of insider trading.

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Speaker 1: This is a wild source. It is actually a really

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Speaker 1: wild story and might be indicative of a larger problem

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Speaker 1: not only within NFTs but also within the largely unregulated

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Speaker 1: world of crypto. So we will bring you those details.

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Speaker 1: Present Biden out with a big ed explaining what he

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Speaker 1: will and won't do in Ukraine, but then sort of

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Speaker 1: immediately going beyond what he says he won't do, we'll

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Speaker 1: give you. Yeah, it is odd, So break all of

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Speaker 1: that down for you. But we wanted to start with

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Speaker 1: more stunning revelations in terms of this horrific shooting in

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Speaker 1: Texas in Yuvalde, Texas. The very latest is that law

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Speaker 1: enforcement seems to be turning on each other. Go ahead

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Speaker 1: and put this piece up on the screen. So the

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Speaker 1: breaking news here from ABC News is the Yuvaldi PD

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Speaker 1: and Valdi Independent School District Police Force are no longer

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Speaker 1: cooperating with the Texas Department of Public Safety's investigation into

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Speaker 1: rob elementary school shooting. Multiple law enforcement sources tell ABC News,

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Speaker 1: I'll read to you a little bit of this ABC

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Speaker 1: News article. They say. According to sources, the decision to

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Speaker 1: stop cooperating occurred soon after the director of that Department

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Speaker 1: of Public Safety, Colonel Stephen McCraw, held a news COmON

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Speaker 1: its Friday, during which he said the delayed police entry

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Speaker 1: into the classroom was quote the wrong decision and contrary

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Speaker 1: to protocol. Their response from the Uvalde Police Department and

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Speaker 1: the school district is that they have been cooperating with investigators.

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Speaker 1: The chief of the Vivaldi CISD Police provided an initial interview,

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Speaker 1: but has not responded to a request for a follow

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Speaker 1: up interview with the Texas Rangers that was made two

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Speaker 1: days ago. Here's another piece. We had mentioned this before.

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Speaker 1: So the guy who was in charge of the response

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Speaker 1: here his name is Pete Aradondo. He was the head

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Speaker 1: of the school district police department, which was separate apart

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Speaker 1: from the local PD. He is the one who was saying, no,

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Speaker 1: this is no longer an active shoe, this is a

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Speaker 1: hostage situation. So we are going to stand outside of

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Speaker 1: the hallway and hang out here for more than an hour.

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Speaker 1: He is the one who also kept even the border

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Speaker 1: patrol who wanted to go in from actually breaching the doors.

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Speaker 1: He's the one who made the call line even to

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Speaker 1: try to go into that classroom as kids are being

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Speaker 1: shot and dying and bleeding out on the floor. Well,

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Speaker 1: it happened that prior to all of this, he'd actually

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Speaker 1: won election to the local Uvalde City Council, and so

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Speaker 1: he was just sworn in to the city council a

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Speaker 1: week after this mass shooting. They understandably and wisely decided

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Speaker 1: not to have a public ceremony to celebrate his being

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Speaker 1: sworn in. I have a feeling that the people of

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Speaker 1: Valdi might have a different feeling about whether or not

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Speaker 1: they want him to represent them on the city council

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Speaker 1: at this point. And then the last piece of this

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Speaker 1: last tweet up. There are some questions whether it's the

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Speaker 1: entire YVALDIPD and you Havevaldi CISD police not cooperating. The

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Speaker 1: other indication is that it's actually just this guy who

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Speaker 1: is not Pete Aradondo, who is not cooperating and is

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Speaker 1: not responding to request for interviews. Following that press conference

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Speaker 1: where the of Texas Public Safety admitted what was blatantly

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Speaker 1: obvious to anyone with a brain and a heart that

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Speaker 1: their response here was the wrong decision and ultimately absolutely atrocious. Yeah,

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Speaker 1: I don't think that there is any just there. Look,

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Speaker 1: here's what's happened, which is that this guy, Pete Aredondo,

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Speaker 1: is in hiding. In fact, you know, a CNN reporter

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Speaker 1: was trying to get on the grounds of you'ball DCISD,

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Speaker 1: and they called the cops on the reporter saying that

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Speaker 1: you're going to get arrested for criminal trespassing if you

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Speaker 1: continue to try and stake out and interview. They show

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Speaker 1: these guys as the cops for everything and anything except

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Speaker 1: like actually saving children's lives when you have the chance,

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Speaker 1: I mean, happy to use the cops to tase parents

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Speaker 1: and handcuffed parents. They called in additional law enforcement to

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Speaker 1: provide extra security for these guys and to remove reporters

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Speaker 1: who are trying to ask questions. But when it came

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Speaker 1: down to them actually serving the function that I know

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Speaker 1: people thought they were paying their salaries to do, can't

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Speaker 1: do that. It's mystifying. I mean, what you're seeing is

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Speaker 1: a complete cover up by this guy, Pete Aradando. And look,

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Speaker 1: he's in serious trouble. I mean, it's no there's no

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Speaker 1: question here that he obviously does not deserve to be

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Speaker 1: the chief of the police department. I think the people

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Speaker 1: of Vivaldi should have something to say. Look, I mean

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Speaker 1: it's up to them, they can decide whether he wants

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Speaker 1: to be on the city council. But by almost every metric,

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Speaker 1: what's happening in this investigation is just maddening. And you know,

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Speaker 1: some of the emotion is still raw. But the more

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Speaker 1: that we learn about the lies and the just the

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Speaker 1: fakery and how many times law enforcement has screwed this up,

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Speaker 1: it's just insane. Throw this next part up on the

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Speaker 1: screen because this just goes in tandem, which is that

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Speaker 1: you know, the law enforcement has been telling us over

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Speaker 1: and over again. Well, the reason that the uvalde shooter

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Speaker 1: was able to get into the building was because some

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Speaker 1: elementary school teacher propped the back door open. They said

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Speaker 1: this three separate times, and they said that camera actually

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Speaker 1: confirmed that. Well, now they're saying a source familiar with

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Speaker 1: the investigation says that surveillance video and audio now verifies

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Speaker 1: that actually the teacher removed the rock which was holding

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Speaker 1: the door open and closed it quote she slammed it shut.

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Speaker 1: So now this raises a whole host of questions. Number one,

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Speaker 1: how the hell was that door open? Because the entire

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Speaker 1: thing was that door was supposed to be locked and

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Speaker 1: an auto lock function, according to everybody who was involved.

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Speaker 1: So either the lock was broken, which you know, if

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Speaker 1: you're into school hardening and all that, that's a big question,

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Speaker 1: how the hell does that happen? Right? But number two,

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Speaker 1: I mean, here's the other thing. I mean, we know

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Speaker 1: that the grandmother of this shooter used to work at

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Speaker 1: the school, so like, did he have a key or something?

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Speaker 1: He obviously was relatively familiar because he went in through

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Speaker 1: the back door. I mean, did he have perhaps some

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Speaker 1: inside knowledge? But this was a far too cute explanation

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Speaker 1: as to you know, everyone was like, oh, what a tragedy.

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Speaker 1: This poor teacher. They must feel as if they have

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Speaker 1: blood on your hands. Well, it seems very clear. I

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Speaker 1: mean she slammed the door shut. So what happened here?

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Speaker 1: And why are they lying to us or are under

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Speaker 1: the bus? Yeah? They really that's what happened. And so

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Speaker 1: her lawyer said, no, no, no, this is not what happened.

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Speaker 1: She saw. She actually called nine to one one she

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Speaker 1: saw the wreck. This is according to her lawyer. She

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Speaker 1: ran back inside to get her phone to report the accident.

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Speaker 1: She came back out while on the phone with nine

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Speaker 1: one one, the men at the funeral home yelled, he

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Speaker 1: has a gun. She saw him jump the fence and

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Speaker 1: he had a gun, So she ran back inside. She

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Speaker 1: kicked the rock away when she went back in because

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Speaker 1: what had been happening is because this was a special

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Speaker 1: wards day, she had left a rock in the door

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Speaker 1: to go back and forth to her car to bring

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Speaker 1: food into the school. She kicks the rock away when

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Speaker 1: she goes back in. She remembers pulling the door closed

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Speaker 1: while telling nine one one that he was shooting. She

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Speaker 1: thought the door would lock because that door is always

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Speaker 1: supposed to be locked. It's supposed to auto lock. And

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Speaker 1: this is not just the word of her lawyer, as

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Speaker 1: Sagar already said, this is confirmed by audio and video

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Speaker 1: surveillance evidence. This is in fact what happened. So one

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Speaker 1: more blatant, glaring lie that was hold to the public

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Speaker 1: that is only now being cleared up by like anonymous

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Speaker 1: law enforcement sources after the fact. And it really is astonishing. Listen,

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Speaker 1: It's no surprise to me that cops lie. That happens routinely,

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Speaker 1: but the level of deception here of every single detail

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Speaker 1: from the time this mass murderer rex his truck until

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Speaker 1: the end of this whole engagement. You know, another thing

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Speaker 1: that came out, remember Soccer. The very early reports were

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Speaker 1: that he had been taken out by one loan, courageous

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Speaker 1: book border patrol officer. And by the way, I give

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Speaker 1: all the credit to Border patrol who finally, after twenty

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Speaker 1: minutes of being stymied by Lakland law, you're like, we're

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Speaker 1: going in. Forget that, Like what are you doing? We

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Speaker 1: are going in. But the story that came out was

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Speaker 1: like this one loan, heroic office goes in by himself

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Speaker 1: and taste them. That wasn't true either. They had a

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Speaker 1: whole failings of you know, officers who went in and

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Speaker 1: coordinated fashion as they should, and at that point they

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Speaker 1: had twenty plus people out in the hallway, So of

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Speaker 1: course it makes sense that you wouldn't just be like,

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Speaker 1: all right, you got the short straw time for you

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Speaker 1: to go in and take care of business. So it's

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Speaker 1: just another example of how everything about this timeline has

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Speaker 1: been was wrong. They've had to correct it. Only upon

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Speaker 1: when you know their lies are found out, do they

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Speaker 1: change the narrative. It is truly astonishing to the point

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Speaker 1: that we have followed the story very closely and it

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Speaker 1: is impossible to keep track of every version of the

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Speaker 1: story and every lie that they have told us from

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Speaker 1: the beginning. Yeah, I can't even tell people what exactly

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Speaker 1: the actual investigation is going to bear out. I mean,

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Speaker 1: we knew at first they said the most egregious lie

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Speaker 1: is the school resource officer engaged the gunman outside of

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Speaker 1: the school, right, he was not even there, and by

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Speaker 1: the way, still nobody knows where he was. So, mister officer,

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Speaker 1: where were you what exactly getting paid for? Very interesting? Okay,

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Speaker 1: then we know that he was outside for twelve minutes,

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Speaker 1: and that five minutes though after he arrives on the scene.

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Speaker 1: Two cops are already there, and so they kind of

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Speaker 1: chase him into the school. They get wounded in the

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Speaker 1: course of this. So okay, now we know that. Then

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Speaker 1: there is a some forty to fifty minute odd gap

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Speaker 1: where kids inside are bleeding to death and calling nine

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Speaker 1: to one one and begging the cops to come inside.

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Speaker 1: And during that entire period there are at least nineteen

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Speaker 1: agents outside in the hallway who are being held up

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Speaker 1: by this gentleman. The incident commander on the scene, who

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Speaker 1: was the Uvalde CISD Police Chief Pete Arodnando. Well he

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Speaker 1: has not now he's not cooperating with law enforcement. There's

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Speaker 1: also been lies here. They're like, oh, this teacher, you know,

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Speaker 1: this idiot teacher left the door open. Nope, she actually

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Speaker 1: didn't do that. He jumped. So I mean there, look

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Speaker 1: from every step beginning to the end, there are lies.

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Speaker 1: There are major questions, and I honestly don't know, Christel,

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Speaker 1: I don't know if we're ever gonna get an answer.

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Speaker 1: Do you think I don't trust the FBI in order

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Speaker 1: to tell us exactly what happened here or the Justice Department,

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Speaker 1: Because we also know that federal marshals were on the

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Speaker 1: scene arresting this mom's right, putting her in handcuff. You

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Speaker 1: think they're not going to cover up their own complicity

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Speaker 1: if the Feds were on the scene. You know, made

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Speaker 1: me so angry because I was watching this video this

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Speaker 1: morning of these Vivaldi CISD cops throwing these reporters off,

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Speaker 1: being like, just so you know, you've all the PDEs

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Speaker 1: on his way and they're gonna issue. You know, this

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Speaker 1: guy's like, g I joded out and he's got like

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Speaker 1: a you know, handgun strapped to his leg, and I'm

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Speaker 1: just like, he disgusted me. You're sitting here throwing these

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Speaker 1: media guys off a side public sidewalk because they want

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Speaker 1: to because you and your boss didn't actually go in.

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Speaker 1: And so these are the same people, you know, the

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Speaker 1: same types of cops. Actually you're probably on the scene

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Speaker 1: at that day. So I mean you just compare their

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Speaker 1: response and then the level of lies and now they're

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Speaker 1: using their own law enforcement resources to try and cover

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Speaker 1: up what was happening here. I mean, somebody's got to

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Speaker 1: stand up for Texas. I keep saying this, like will

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Speaker 1: Governor Abbot and Ken Paxson, you know, Governor Abbott has

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Speaker 1: only said one thing. I'm livid. Okay, I don't care

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Speaker 1: if you're living. You and Ken Paxson need to get

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Speaker 1: your asses down there and start investigating this fire. Steve McCraw,

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Speaker 1: you know, Texas Department of Public Safety put him on

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Speaker 1: the camera and be like, hey, what what happened here? Honestly,

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Speaker 1: I mean, somebody in that state to this day, you know,

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Speaker 1: Ted Cruz, John Corny and these guys haven't done anything.

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Speaker 1: Can somebody stand up for these people? Well Cornyn did

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Speaker 1: do something. He went and carried water. Yeah, that's your lies,

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Speaker 1: That's right, I mean that was Oh they had you know,

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Speaker 1: it's a split second decision. Oh a split second decision

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Speaker 1: over an hour and twenty minutes. That's a split second. Okay.

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Speaker 1: You know. The sad thing here too is in terms

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Speaker 1: of any sort of criminal liability, I don't think there's

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Speaker 1: anything that they reached. There almost nothing that's going to

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Speaker 1: be happ you know. I mean, the law does not

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Speaker 1: say that they have any sort of duty to do

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Speaker 1: anything to protect these kids in this situation, and so

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Speaker 1: probably the you know, the most we'll ever get is

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Speaker 1: if there's some sort of investigation, which you know, we're

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Speaker 1: all pretty doubtful that we'll get really to the bottom

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Speaker 1: of any of this, and that they lose their lose

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Speaker 1: their jobs. That's the most that might happen out of this.

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Speaker 1: But it just continues to shock me. The level of cowardice,

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Speaker 1: the level of deception, the cover ups, and now you know,

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Speaker 1: the main character here, and you know, I'm sure he's

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Speaker 1: not the only one to blame, but he seems like

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Speaker 1: a pretty key figure in what went wrong on that

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Speaker 1: day that he now is is hiding from the inquiry

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Speaker 1: and refusing interviews and just trying to continue to see

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Speaker 1: I'm seeing here he was actually ambush kind of this

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Speaker 1: morning by CNN cameras. Oh yeah, I don't see anything

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Speaker 1: that he actually said he was confronted by CNN, But

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Speaker 1: nobody's pulling out any quote. Obviously, this is breaking like

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Speaker 1: literally right now. Yeah, there doesn't seem to me noteworthy

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Speaker 1: poll quotes exactly. He probably said something along the lines of, yeah,

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Speaker 1: he's declining to answer any questions in his first public

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Speaker 1: comments after he was finally confronted out of the back

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Speaker 1: entrance there by a CNN reporter. Props out to that guy, Shimone.

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Speaker 1: I think is Yeah, Shimon procupees. I think that's okay.

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Speaker 1: He's been he's been done a very good job. I

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Speaker 1: want to give praise to you. He's the one who

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Speaker 1: also press them in that in that press conference where

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Speaker 1: the head of Texas Public Safety admitted that it was

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Speaker 1: the wrong decision. He was all so the one that

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Speaker 1: pressed them on what measures were taken to try to

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Speaker 1: get in that door, which forced him to admit nothing. Yeah,

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Speaker 1: and we do nothing. So I will say, there's here's

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Speaker 1: one quot quote he does say he's actually in touch

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Speaker 1: here with the Texas Department of Public Safety. Well, you

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Speaker 1: seem to have another story. But what I'm guessing is

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Speaker 1: that when he says that he probably has a ton

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Speaker 1: of lawyers and that they are speaking on his behalf

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Speaker 1: and declining probably to answer, well, and this guy really

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Speaker 1: should be able to be sued. I don't know how

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Speaker 1: to understand how qualified immunity works for CISD cops, but listen,

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Speaker 1: I mean, if there was ever a case for criminal

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Speaker 1: negligence or for involuntary manslaughter, early are at least in

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Speaker 1: the case of like how O. J. Simpson got sued.

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Speaker 1: I mean, these parents they deserve something soon. They truly do. Yeah,

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Speaker 1: this is not right. Indeed, indeed all right. There are

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Speaker 1: also big developments with regards to Russia's war on Ukraine.

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Speaker 1: President Biden wrote an abed in New York Times. He's

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Speaker 1: been writing a lot of op eds recently. Let's find

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Speaker 1: put this up on the screen and sagra and read

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Speaker 1: a little bit of this, and then I want to

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Speaker 1: get your reaction to it. So his whole thing here

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Speaker 1: in the headline is President Biden what America will and

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Speaker 1: will not do in Ukraine. He says, as the war

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Speaker 1: goes on, I want to be clear about the aims

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Speaker 1: of the US in these efforts. America's goal is straightforward.

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Speaker 1: We want to see a democratic, independent, sovereign, and prosperous

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Speaker 1: Ukraine with the means to deter defend itself against further aggression.

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Speaker 1: Towards that those ends, he says, We'll continue cooperating with

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Speaker 1: our allies and partners on Russian sanctions toughest ever impose

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Speaker 1: on major in economy. We will continue providing Ukraine with

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Speaker 1: advanced weaponry. Keep that thought in mind for a moment.

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Speaker 1: We also continue reinforcing NATO's Eastern flank with forces and

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Speaker 1: capabilities from the US. And other allies. But then he

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Speaker 1: goes so, that's the portion of the like what we

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Speaker 1: will do in Ukraine, this is what we will not do.

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Speaker 1: Portion of the op ed He says, we do not

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Speaker 1: seek a war between NATO and Russia. As much as

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Speaker 1: I disagree with mister Putin and find his actions and outrage,

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Speaker 1: the United States will not try to bring about his

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Speaker 1: ouster in Moscow. A little bit different than some things

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Speaker 1: we've heard administration in the past. So long as the

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Speaker 1: United States or our allies are not attacked, we will

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Speaker 1: not be directly engaged in this conflict, either by sending

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Speaker 1: American troops to fight in Ukraine or by attacking Russian forces.

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Speaker 1: We are not encouraging or enabling Ukraine to strike beyond

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Speaker 1: its borders. We do not want to prolong the war

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Speaker 1: just to inflict pain on Russia. Again, that goes diametrically

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Speaker 1: against what people like ron Klain and others in the

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Speaker 1: administration and even President Biden himself have said. He then

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Speaker 1: goes on to say, my principle throughout this crisis has

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Speaker 1: been quote nothing about Ukraine without Ukraine, Okay. I will

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Speaker 1: not pressure the Ukrainian government in private or public to

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Speaker 1: make any territorial concessions. It would be wrong, in contrary

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Speaker 1: to well settled principles to do so. There's another part

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Speaker 1: about nuclear weapons. I want to get to it in

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Speaker 1: a moment, but first of all, what's your reaction to

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Speaker 1: that portion. Yeah, my reaction is that this is a

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Speaker 1: very nice, condensed view which is just certainly not in

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Speaker 1: line with the rhetoric and many of the actions of

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Speaker 1: the Biden administration. And actually that is why I find

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Speaker 1: it so confusing, because on the very same day that

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Speaker 1: the op ed comes out, you're going to be talking

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Speaker 1: about some of this in your mind. There is a

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Speaker 1: leaked story both in the NBC News first and then

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Speaker 1: in the Washington Post about Biden's frustration with his aids

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Speaker 1: for quote cleaning up his comments. And actually one of

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Speaker 1: the things he got most pissed off at his staff

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Speaker 1: about was when they cleaned up his statements saying, by God,

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Speaker 1: this man cannot remain in power. Right, that is directly

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Speaker 1: incongruous with that statement here. We do not seek his

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Speaker 1: ouster in Moscow, as much as I may disagree, So

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Speaker 1: he has a direct diametric view in what he said,

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Speaker 1: which we know from the words of the President and

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Speaker 1: now the vetted edited words of the president here in

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Speaker 1: the op ed. So which is it? What is the

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Speaker 1: policy of the United States? Now, I differ, as always

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Speaker 1: both under Trump and Biden, that the words of the

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Speaker 1: president are policy. The President of the United States is

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Speaker 1: a democratically elected leader of this country. And so unfortunately,

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Speaker 1: I think in this case, President Biden has made his

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Speaker 1: preference very clear. Also, there's no indication actually that he

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Speaker 1: is pressuring Ukraine in any way in order to seek

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Speaker 1: a peace deal. Now, well, actually, I mean part of

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Speaker 1: what he says here basically indicates that. I mean, when

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Speaker 1: he says that I will not pressure the Ukrainian government

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Speaker 1: to make any territorial concessions, it would be wrong, in

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Speaker 1: contrary to well settled principles to do so. That sounds

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Speaker 1: like a very nice principle to hold to, But what

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Speaker 1: it actually means is that you are not pushing for peace.

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Speaker 1: That puts you on the opposite side of say France

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Speaker 1: in Germany. So it's basically the US and UK. And

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Speaker 1: remember there was a report that from Ukrainian Pravda that

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Speaker 1: when Boris Johnson, Prime Minister of the UK went to Kiev,

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Speaker 1: he went specifically to deliver the message that even if

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Speaker 1: you want to negotiate, we are not ready for this

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Speaker 1: war to end. What we want is for you to

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Speaker 1: continue to bleed Russia, to continue to weaken Putin, and

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Speaker 1: that is ultimately our goal in the conflict. That is

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Speaker 1: consistent with leaks that came out of the administration of

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Speaker 1: senior level officials who said they basically see that as

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Speaker 1: the only end game insight that goes directly again you know,

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Speaker 1: I mean, that's consistent with what Biden himself has said

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Speaker 1: now multiple times about it can't remain in power, consistent

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Speaker 1: with what ron Klain says, we don't want to give

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Speaker 1: Putin an off ramp. So even in the niceties of

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Speaker 1: this ed, it's made very clear that on the one hand,

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Speaker 1: they say, okay, we don't want a war between NATO

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Speaker 1: and Russia, they continue walking up to the edge of

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Speaker 1: actually being in direct conflict with Russia by the way,

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Speaker 1: and we'll get to that in a minute, But then

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Speaker 1: they also say we don't actually want to negotiate it

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Speaker 1: into this. I think there's a way to square two

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Speaker 1: by saying you support Ukraine, by the way. I do

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Speaker 1: think it's up to the Ukrainians. You know, like they

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Speaker 1: get to decide. It's up to them. They can fight

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Speaker 1: if they want to, if not, whatever territorial concessions, it's

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Speaker 1: literally on them. If they want to fight until the

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Speaker 1: bitter end, you know, that's on you. But what I

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Speaker 1: think what's important that the French and the German are doing.

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Speaker 1: Our French and Germany are doing is they're not pressuring

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Speaker 1: Ukraine Crystal. They're calling Putin, you know, they're calling Putin

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Speaker 1: and trying to open up the space for Putin actually

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Speaker 1: to come to the table. I think Biden should get

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Speaker 1: on the phone. Even better, honestly, get go meet in

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Speaker 1: a neutral country whatever Helsinki, Iceland, you know, wherever those plays.

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Speaker 1: I think Reykievic was technically halfway and that's where they

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Speaker 1: met during the Cold War. Get everybody together. I'm sure

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Speaker 1: Putin would go, you know at this point, and I

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Speaker 1: just I do not believe for a second that that

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Speaker 1: would not help the situation. Yeah, now everyone's saying, oh,

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Speaker 1: you would benefit you know, Putin, and what do you mean?

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Speaker 1: His military is on the rocks, his economy is on

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Speaker 1: the brink, like obviously, you know, you know, in terms

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Speaker 1: of the reports that we look at, he's not doing

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Speaker 1: so well from a health perspective, that actually possibly could

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Speaker 1: open up the ground and maybe you can shake something

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Speaker 1: out and be like, Okay, listen, if you withdraw all

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Speaker 1: the way back to the CRIMEA, then X amount of

429
00:21:35,480 --> 00:21:37,840
Speaker 1: sanctions don't get taken off, and you know, X amount

430
00:21:37,840 --> 00:21:40,080
Speaker 1: of Russian oil can actually continue to be bought. Maybe

431
00:21:40,119 --> 00:21:42,720
Speaker 1: the German pipeline doesn't go through. You know, things like that.

432
00:21:42,920 --> 00:21:45,240
Speaker 1: This is reality, this is what things are looking like.

433
00:21:45,359 --> 00:21:48,760
Speaker 1: So if we pressured and talked to Russia, that's probably

434
00:21:48,880 --> 00:21:50,760
Speaker 1: the best way in order to get this done. But

435
00:21:50,840 --> 00:21:53,439
Speaker 1: that hasn't happened. You know, the United States and Russia

436
00:21:53,520 --> 00:21:55,879
Speaker 1: have not even had that level of high level communication.

437
00:21:56,040 --> 00:21:57,640
Speaker 1: I think at the highest level it's only our defense

438
00:21:57,720 --> 00:21:59,320
Speaker 1: chiefs talking, which I don't support that. I want the

439
00:21:59,359 --> 00:22:01,440
Speaker 1: diplomats on I want the presidents on the phone. Yeah,

440
00:22:01,440 --> 00:22:04,240
Speaker 1: that's right. Even what you said though about we should

441
00:22:04,280 --> 00:22:06,359
Speaker 1: leave it up to the Ukrainians is a little bit

442
00:22:06,400 --> 00:22:10,280
Speaker 1: complicated because they the only reason they're in this fight

443
00:22:10,400 --> 00:22:14,879
Speaker 1: is because of our weaponry. So we shouldn't pretend like

444
00:22:15,080 --> 00:22:18,960
Speaker 1: we don't have direct interest in what happens here. How

445
00:22:19,040 --> 00:22:23,320
Speaker 1: long this goes on, the administration has calculated, and it's

446
00:22:23,359 --> 00:22:26,119
Speaker 1: clear from their words and also from their actions and

447
00:22:26,560 --> 00:22:29,640
Speaker 1: the you know, advanced weaponry that they continue to escalate,

448
00:22:29,720 --> 00:22:32,720
Speaker 1: and the support they continue to provide, escalating support in

449
00:22:32,800 --> 00:22:36,480
Speaker 1: terms of intelligence capabilities. It's very clear that they have calculated.

450
00:22:36,640 --> 00:22:38,800
Speaker 1: What they think is in the US's best interest is

451
00:22:38,840 --> 00:22:42,000
Speaker 1: for this war to continue indefinitely and to sort of

452
00:22:42,240 --> 00:22:45,000
Speaker 1: bleed Putin dry and hope that he is, you know,

453
00:22:45,200 --> 00:22:48,800
Speaker 1: somehow loses power, loses his grip on power. Now, first

454
00:22:48,840 --> 00:22:51,760
Speaker 1: of all, it is not at all a given that

455
00:22:51,840 --> 00:22:54,359
Speaker 1: whatever would come after Putin would be better than Putin,

456
00:22:54,520 --> 00:22:57,560
Speaker 1: So keep that in mind. I just fundamentally disagree that

457
00:22:57,640 --> 00:23:00,480
Speaker 1: that's what is in the US's best interest. I think

458
00:23:00,560 --> 00:23:02,960
Speaker 1: what is in the best interest of the US in

459
00:23:03,040 --> 00:23:07,679
Speaker 1: the world is avoiding the risk of a direct nuclear confrontation.

460
00:23:08,280 --> 00:23:10,680
Speaker 1: The sooner this war can come to an end, the

461
00:23:10,800 --> 00:23:13,560
Speaker 1: sooner we take that risk off the table. And that

462
00:23:13,840 --> 00:23:16,360
Speaker 1: is why I would go further than what you say

463
00:23:16,359 --> 00:23:18,600
Speaker 1: in terms about would just let the Ukrainians decide, because

464
00:23:18,640 --> 00:23:21,880
Speaker 1: we already are so involved in meshed in this thing

465
00:23:22,240 --> 00:23:24,359
Speaker 1: that it's not like we can I mean, you could

466
00:23:24,400 --> 00:23:26,520
Speaker 1: take a hands off of person say we're not sending anything,

467
00:23:26,640 --> 00:23:29,720
Speaker 1: but that effectively is you know, taking the side of

468
00:23:29,800 --> 00:23:32,760
Speaker 1: we're going to cause this war to end. So we

469
00:23:32,840 --> 00:23:35,399
Speaker 1: can't really pretend like we're in a position at this

470
00:23:35,560 --> 00:23:38,359
Speaker 1: point to not have any influence or sway with what

471
00:23:38,440 --> 00:23:40,520
Speaker 1: the Ukrainians doing square they do. And this is why

472
00:23:40,640 --> 00:23:42,919
Speaker 1: my position was also against some of the aid package.

473
00:23:42,920 --> 00:23:44,399
Speaker 1: I don't think we should be providing them a lot

474
00:23:44,440 --> 00:23:47,320
Speaker 1: of offensive weaponry, and that's actually kind of where you know,

475
00:23:47,520 --> 00:23:49,800
Speaker 1: I want them to be able to defend themselves. And again, look,

476
00:23:49,800 --> 00:23:51,640
Speaker 1: I don't think you can't say that the Ukrainian cause,

477
00:23:51,760 --> 00:23:54,040
Speaker 1: of course, I just you know, let's put this but

478
00:23:54,119 --> 00:23:56,520
Speaker 1: this is why where I start to get concerned. Let's

479
00:23:56,520 --> 00:23:57,920
Speaker 1: put this up there on the screen, which is that

480
00:23:58,000 --> 00:24:01,240
Speaker 1: the Ukrainians have been begging us for these high rocket systems,

481
00:24:01,280 --> 00:24:04,520
Speaker 1: these high mobility artillery rocket systems. Now there are two types,

482
00:24:04,800 --> 00:24:07,000
Speaker 1: apparently within the stock of the US military, both the

483
00:24:07,040 --> 00:24:10,439
Speaker 1: seventy kilometer version and the three hundred kilometer version. They

484
00:24:10,560 --> 00:24:13,840
Speaker 1: were asking us for the three hundred kilometer version. Now

485
00:24:13,880 --> 00:24:17,119
Speaker 1: we're giving them the seventy given that we have now gotten,

486
00:24:17,400 --> 00:24:20,440
Speaker 1: according to them, verbal assurances that they will not be

487
00:24:20,640 --> 00:24:24,280
Speaker 1: used by Ukraine against targets in Russia, which Russian president

488
00:24:24,720 --> 00:24:29,080
Speaker 1: Russian official Dmitri Medvedev had actually spoken apparently to Biden,

489
00:24:29,160 --> 00:24:32,840
Speaker 1: had made some nuclear sable rattling threats. Where I get

490
00:24:32,920 --> 00:24:35,639
Speaker 1: concerned is when why are the Ukrainians asking us for

491
00:24:35,720 --> 00:24:38,680
Speaker 1: these three hundred kilometer weapons if their intent is not

492
00:24:38,840 --> 00:24:41,160
Speaker 1: to strike into Russia, And the fact that we kind

493
00:24:41,200 --> 00:24:43,000
Speaker 1: of have to bargain with them and be like, no, guys,

494
00:24:43,000 --> 00:24:44,440
Speaker 1: we're only going to give you this one, which you

495
00:24:44,480 --> 00:24:47,040
Speaker 1: can use to defend yourself in the dunboss. I think

496
00:24:47,040 --> 00:24:50,639
Speaker 1: that's great, you know, I think defending yourself in a

497
00:24:50,880 --> 00:24:55,240
Speaker 1: war for your territory, but enabling them to strike targets

498
00:24:55,359 --> 00:24:57,159
Speaker 1: inside of Russia. And we talked about this in our

499
00:24:57,240 --> 00:25:00,280
Speaker 1: last show, which is if you're the Russians, you're not stupid. Hey,

500
00:25:00,560 --> 00:25:03,040
Speaker 1: they can't strike with US weapons inside Russia, so we'll

501
00:25:03,080 --> 00:25:05,119
Speaker 1: fire from Russia. We're at war with Ukraine. We can

502
00:25:05,240 --> 00:25:08,480
Speaker 1: just do that. But the diplomatic fallout and the consequences

503
00:25:08,800 --> 00:25:12,439
Speaker 1: of such actions, especially if Ukraine uses US provided weapons

504
00:25:12,440 --> 00:25:15,359
Speaker 1: systems to do so, not just that. Remember we're in

505
00:25:15,720 --> 00:25:19,119
Speaker 1: the NATO Alliance. Germany is actually giving them a longer

506
00:25:19,240 --> 00:25:23,159
Speaker 1: range a longer range rocket system. The UK also is

507
00:25:23,200 --> 00:25:26,240
Speaker 1: in possession of this type of technology. So what I'm

508
00:25:26,280 --> 00:25:29,919
Speaker 1: talking about here is whenever we enable them to offensively strike,

509
00:25:30,320 --> 00:25:32,080
Speaker 1: and I would define that not only in terms of

510
00:25:32,119 --> 00:25:34,960
Speaker 1: a Ukrainian infensive, but also to up the ante in

511
00:25:35,080 --> 00:25:38,760
Speaker 1: terms of the strategic situation. That's where I'm completely against it.

512
00:25:38,760 --> 00:25:41,840
Speaker 1: And that's also why the Biden administration decision here. Maybe

513
00:25:41,880 --> 00:25:44,520
Speaker 1: it sounds wise, you know, only giving them seventy kilometers,

514
00:25:44,560 --> 00:25:47,360
Speaker 1: but again, you know, this is where I get very concerned,

515
00:25:47,440 --> 00:25:49,399
Speaker 1: is the Ukrainians are very cavalier and saying no, we

516
00:25:49,480 --> 00:25:52,480
Speaker 1: need a no fly zone. Remember they campaigned here in Israel.

517
00:25:52,520 --> 00:25:54,560
Speaker 1: You know, Zelensky went pissed off the entire country of

518
00:25:54,640 --> 00:25:57,600
Speaker 1: Israel by comparing it to the Holocaust. He's been all

519
00:25:57,680 --> 00:25:59,919
Speaker 1: over the West begging for a no fly zone. Now

520
00:26:00,080 --> 00:26:01,399
Speaker 1: he knows he's not going to get that. And it

521
00:26:01,480 --> 00:26:04,000
Speaker 1: seems that the next phase of the asking US for

522
00:26:04,080 --> 00:26:06,720
Speaker 1: weapons is give us these fighter planes, you know, which

523
00:26:06,720 --> 00:26:08,480
Speaker 1: we would be able to, you know, possibly in order

524
00:26:08,480 --> 00:26:10,880
Speaker 1: to strike into Russia. Give you these systems which would

525
00:26:10,880 --> 00:26:12,920
Speaker 1: be able to strike into Russia. And that's where we

526
00:26:13,080 --> 00:26:16,119
Speaker 1: need to draw a much clearer redline, you know, I mean,

527
00:26:16,200 --> 00:26:18,960
Speaker 1: we really do need I think the President should publicly

528
00:26:19,119 --> 00:26:23,040
Speaker 1: say to Ukraine, we will never give you anything that

529
00:26:23,200 --> 00:26:25,720
Speaker 1: will be able to strike into Russian And unfortunately we're

530
00:26:25,920 --> 00:26:29,080
Speaker 1: negotiating this all in some back room because it's appearing

531
00:26:29,119 --> 00:26:31,840
Speaker 1: as some slight and you have warmongers here in Washington

532
00:26:31,880 --> 00:26:34,760
Speaker 1: who think that, you know, the way to bolster Ukrainian

533
00:26:34,840 --> 00:26:37,080
Speaker 1: defense is to give them stuff which they can use

534
00:26:37,119 --> 00:26:39,480
Speaker 1: in an offensive way. Right, that is what's timing to

535
00:26:39,560 --> 00:26:43,480
Speaker 1: completely against completely agree, completely against that. And we've also

536
00:26:44,280 --> 00:26:48,560
Speaker 1: because this forty billion dollars aid package was passed so casually,

537
00:26:48,840 --> 00:26:51,200
Speaker 1: so quickly, with so little public debate, and now with

538
00:26:52,080 --> 00:26:57,440
Speaker 1: no oversight, you're just basically trusting the good judgment of

539
00:26:57,800 --> 00:27:00,520
Speaker 1: Joe Biden. Yes, that's written into law. Pop should really

540
00:27:00,560 --> 00:27:02,879
Speaker 1: understand that. Yeah, it's written in the package saying the

541
00:27:03,000 --> 00:27:05,640
Speaker 1: President has the sole discretionary authority to decide what goes

542
00:27:05,680 --> 00:27:08,440
Speaker 1: over ends Ukraine. So he's you know, making these trade

543
00:27:08,480 --> 00:27:10,200
Speaker 1: offs like well, I won't give you the super long

544
00:27:10,280 --> 00:27:14,000
Speaker 1: range I'll give you like the medium range ones, okay,

545
00:27:14,680 --> 00:27:16,560
Speaker 1: and just say you know how significant this is. This

546
00:27:16,720 --> 00:27:20,240
Speaker 1: is from that article about this weapon system. They say

547
00:27:20,760 --> 00:27:25,360
Speaker 1: that this is an extraordinarily advanced modern weapon system, much

548
00:27:25,480 --> 00:27:28,679
Speaker 1: more advanced than anything the Ukrainians or the Russians can

549
00:27:28,720 --> 00:27:31,760
Speaker 1: currently put on the battlefield. They describe it as vehicle

550
00:27:31,840 --> 00:27:34,679
Speaker 1: mounted launchers that can fire volleys of six guided rockets

551
00:27:34,720 --> 00:27:36,600
Speaker 1: at a time that land within several feet of their

552
00:27:36,600 --> 00:27:39,840
Speaker 1: intended target and accuracy unmatched in the artillery jewels taking

553
00:27:39,880 --> 00:27:43,320
Speaker 1: place across the dawn Bus in Eastern Ukraine. The vehicle

554
00:27:43,359 --> 00:27:46,080
Speaker 1: carrying the launchers can also travel at more than fifty

555
00:27:46,280 --> 00:27:49,800
Speaker 1: miles per hour. But wait, there's more. Go ahead and

556
00:27:49,840 --> 00:27:52,880
Speaker 1: put this next piece up on the screen. So it's

557
00:27:52,960 --> 00:27:59,040
Speaker 1: not just these missiles that are relatively long range, though

558
00:27:59,119 --> 00:28:03,680
Speaker 1: not the longest range. We also now have confirmation, according

559
00:28:03,720 --> 00:28:07,800
Speaker 1: to Sky News from an interview that they conducted with

560
00:28:07,960 --> 00:28:11,639
Speaker 1: General Paul Nakasani he is the head of NSA and

561
00:28:11,800 --> 00:28:16,119
Speaker 1: also the head of Cyber Command, that US military hackers

562
00:28:16,160 --> 00:28:22,360
Speaker 1: are conducting offensive operations in support of Ukraine. Now there's

563
00:28:22,440 --> 00:28:25,760
Speaker 1: no details here. All we have is this confirmation from

564
00:28:25,920 --> 00:28:29,000
Speaker 1: the dude who would know. Quote, We've conducted a series

565
00:28:29,080 --> 00:28:36,040
Speaker 1: of operations across the full spectrum offensive, defensive and information operations.

566
00:28:36,560 --> 00:28:39,360
Speaker 1: There need to be a lot more questions asked about this.

567
00:28:39,680 --> 00:28:42,719
Speaker 1: This is another thing that is going on, no public scrutiny. Yes,

568
00:28:42,960 --> 00:28:44,800
Speaker 1: no one is voting for this, No one is having

569
00:28:44,880 --> 00:28:46,840
Speaker 1: a debate about it. No one is explaining what the

570
00:28:46,920 --> 00:28:50,440
Speaker 1: potential consequences are. Nobody is laying out what exactly is

571
00:28:50,520 --> 00:28:54,960
Speaker 1: being done here. And this is also extremely significant. I mean,

572
00:28:55,520 --> 00:29:01,480
Speaker 1: if anything, our intelligence and our offensive cyber capabilities that

573
00:29:01,520 --> 00:29:06,400
Speaker 1: we've apparently provided to Ukraine that is as significant in

574
00:29:06,520 --> 00:29:08,800
Speaker 1: what they're doing on the ground in this war as

575
00:29:09,040 --> 00:29:12,440
Speaker 1: the you know, physical hardware that we are sending there

576
00:29:12,440 --> 00:29:15,080
Speaker 1: as well. Absolutely, and I've talked before part of the

577
00:29:15,160 --> 00:29:18,600
Speaker 1: problem with cyber is that there are no real defined

578
00:29:18,800 --> 00:29:21,360
Speaker 1: rules of engagement. So whenever we talk about an offensive

579
00:29:21,400 --> 00:29:23,240
Speaker 1: cyber attack, what does that mean on what type of

580
00:29:23,320 --> 00:29:25,440
Speaker 1: hard asset are they try and disrupting something? Are they

581
00:29:25,480 --> 00:29:28,080
Speaker 1: sharing that with the Ukrainians? This is a conjunction with

582
00:29:28,160 --> 00:29:31,040
Speaker 1: the Ukrainian cyber defense, you know, if such a unit

583
00:29:31,200 --> 00:29:33,400
Speaker 1: even exists. The point that I'm making is that the

584
00:29:33,520 --> 00:29:36,560
Speaker 1: gray area on this is just extraordinary, and we have

585
00:29:36,720 --> 00:29:39,400
Speaker 1: no idea because there's a high level of uncertainty and

586
00:29:39,440 --> 00:29:41,480
Speaker 1: how the Russians are going to respond and let's not

587
00:29:41,520 --> 00:29:44,280
Speaker 1: delute ourselves. Russia could cripple the global financial system tomorrow

588
00:29:44,280 --> 00:29:46,400
Speaker 1: if they wanted to with their Russian hackers. I mean,

589
00:29:46,400 --> 00:29:49,560
Speaker 1: we've already seen Russian mob affiliated things take down US healthcare,

590
00:29:49,680 --> 00:29:52,800
Speaker 1: go after several different assets. We've seen here in America, games,

591
00:29:52,840 --> 00:29:55,080
Speaker 1: Destroyer and Tirey. That's that's right. I forgot about that.

592
00:29:55,200 --> 00:29:58,200
Speaker 1: You're right. But the point is is that you know

593
00:29:58,600 --> 00:30:01,640
Speaker 1: what people conjured up as something that actually happened in

594
00:30:01,680 --> 00:30:04,840
Speaker 1: twenty sixteen. I mean that kind of is in their capability,

595
00:30:04,960 --> 00:30:06,960
Speaker 1: not in terms of affecting the election, but in terms

596
00:30:07,000 --> 00:30:09,840
Speaker 1: of just screwing with US, screwing with daily life, causing

597
00:30:09,920 --> 00:30:12,480
Speaker 1: and wreaking havoc in the corporate world. And then even

598
00:30:12,600 --> 00:30:15,400
Speaker 1: worse so for the Ukrainians given their military grid system

599
00:30:15,720 --> 00:30:17,880
Speaker 1: and how much access now that they have even inside

600
00:30:17,880 --> 00:30:20,520
Speaker 1: of the country. So we have to be extraordinarily careful.

601
00:30:20,520 --> 00:30:23,040
Speaker 1: And just to buttress my last point, this is the

602
00:30:23,120 --> 00:30:26,360
Speaker 1: stuff where we're about to show you, which completely in

603
00:30:26,400 --> 00:30:30,320
Speaker 1: the shadows, completely up to the administration. Nobody in Congress

604
00:30:30,360 --> 00:30:32,000
Speaker 1: is having a debate about this. Put this up there

605
00:30:32,280 --> 00:30:34,600
Speaker 1: on the screen. Broke late last night, which is that

606
00:30:35,040 --> 00:30:38,320
Speaker 1: the US is planning to sell armed drones to Ukraine

607
00:30:38,440 --> 00:30:40,320
Speaker 1: in the coming days. So let me read from this.

608
00:30:40,680 --> 00:30:43,800
Speaker 1: The Biden administration is currently planning to sell Ukraine for

609
00:30:44,240 --> 00:30:47,160
Speaker 1: MQ one C Gray Eagle drones that can be armed

610
00:30:47,160 --> 00:30:51,120
Speaker 1: with hell fire missiles for battlefield use against Russia. The

611
00:30:51,320 --> 00:30:55,320
Speaker 1: sale of these made drones could still be blocked by Congress,

612
00:30:55,560 --> 00:30:57,360
Speaker 1: and also said there is a risk of a last

613
00:30:57,440 --> 00:31:00,320
Speaker 1: minute policy reversal which could scuttle the plan, which has

614
00:31:00,360 --> 00:31:02,960
Speaker 1: now been under review at the Pentagon. Now why does

615
00:31:03,000 --> 00:31:06,040
Speaker 1: this matter? Because the current drones that we have been

616
00:31:06,080 --> 00:31:09,360
Speaker 1: providing to Ukraine are smaller, have a much shorter range,

617
00:31:09,480 --> 00:31:14,280
Speaker 1: and are unmanned aerial systems against Russian forces. But the

618
00:31:14,360 --> 00:31:18,240
Speaker 1: Gray Eagle represents a leap in technology because it can

619
00:31:18,320 --> 00:31:22,080
Speaker 1: fly up to thirty or more hours depending on its mission,

620
00:31:22,400 --> 00:31:26,360
Speaker 1: can gather huge amounts of data for intelligence purposes, and

621
00:31:26,760 --> 00:31:31,000
Speaker 1: because they can carry up to eight powerful hell fire missiles.

622
00:31:31,240 --> 00:31:34,520
Speaker 1: The sale is significant because, and I'm putting directly quote here,

623
00:31:34,760 --> 00:31:40,520
Speaker 1: an advanced reusable US system capable of deep strikes, multiple

624
00:31:40,520 --> 00:31:44,640
Speaker 1: deep strikes on the battlefield against Russia for the first time.

625
00:31:44,720 --> 00:31:46,800
Speaker 1: So this is what again I would have defined in

626
00:31:46,880 --> 00:31:51,240
Speaker 1: the previous segment about offensive weapons. This gives you. I mean, look,

627
00:31:51,320 --> 00:31:53,280
Speaker 1: Ukraine and Russia are right there, and depending onto your

628
00:31:53,360 --> 00:31:55,640
Speaker 1: Russian and who you ask, where exactly the border is

629
00:31:55,760 --> 00:31:59,560
Speaker 1: is very much up for debate. So a US hellfire missile,

630
00:32:00,160 --> 00:32:03,200
Speaker 1: you know, given and given to the Ukrainian forces being

631
00:32:03,440 --> 00:32:06,680
Speaker 1: used possibly against Let's imagine that they use it against

632
00:32:06,880 --> 00:32:08,960
Speaker 1: a rushing ship again. You know, we already know they

633
00:32:09,040 --> 00:32:12,240
Speaker 1: used the British weapons against that ship and sank the flagship.

634
00:32:12,400 --> 00:32:16,200
Speaker 1: This just again just enters the realm of upping the ante.

635
00:32:16,320 --> 00:32:19,360
Speaker 1: And where I really get concerned is there's no debate

636
00:32:19,640 --> 00:32:22,720
Speaker 1: and it is one up to the sole discretion of

637
00:32:22,800 --> 00:32:24,320
Speaker 1: the president. I mean, I've just said this in our

638
00:32:24,400 --> 00:32:26,560
Speaker 1: last show. Joe Biden is like eighty years old. He

639
00:32:26,600 --> 00:32:29,440
Speaker 1: could literally drop dead, which means that Kamala tomorrow could

640
00:32:29,520 --> 00:32:31,960
Speaker 1: decide to send anything up to like nukes over to

641
00:32:32,120 --> 00:32:34,360
Speaker 1: Ukraine and we would have nothing to say about it. Zero.

642
00:32:34,560 --> 00:32:37,040
Speaker 1: Congress already given them the authority. They can only advise

643
00:32:37,400 --> 00:32:39,320
Speaker 1: in the after the fact. I think the only reason

644
00:32:39,360 --> 00:32:42,720
Speaker 1: they can even advise here is because we're selling the weapons.

645
00:32:42,760 --> 00:32:44,520
Speaker 1: We're not just giving it to them, because it probably

646
00:32:44,560 --> 00:32:47,200
Speaker 1: falls outside of that aid package. But put it together

647
00:32:47,240 --> 00:32:49,800
Speaker 1: with that cyber report. This is the gray area stuff

648
00:32:49,800 --> 00:32:52,120
Speaker 1: where you know, Biden may do a decent enough job,

649
00:32:52,160 --> 00:32:54,400
Speaker 1: in my opinion, of pushing back against some of the

650
00:32:54,440 --> 00:32:57,240
Speaker 1: war establishments, some of this some of the most yeah,

651
00:32:57,280 --> 00:32:59,280
Speaker 1: exactly like the people calling for war. But that does

652
00:32:59,360 --> 00:33:02,000
Speaker 1: not mean he's got the deep state under control whatsoever. No,

653
00:33:02,160 --> 00:33:05,440
Speaker 1: far far from it. I mean, it looks like what

654
00:33:05,600 --> 00:33:08,320
Speaker 1: happened here is remember there was that whole idea and

655
00:33:08,400 --> 00:33:10,959
Speaker 1: discussion of we're going to send fighter jets, and then

656
00:33:11,040 --> 00:33:12,880
Speaker 1: there was it was like, well but wait a second,

657
00:33:12,960 --> 00:33:14,080
Speaker 1: how are we going to get them there, and what

658
00:33:14,240 --> 00:33:16,560
Speaker 1: pilots and how's this all going to work? And does

659
00:33:16,640 --> 00:33:19,880
Speaker 1: that then lead to this offensive capability? Obviously it does,

660
00:33:20,360 --> 00:33:23,000
Speaker 1: And so when that was kind of thankfully taken off

661
00:33:23,040 --> 00:33:26,440
Speaker 1: the table, this is like the substitute. So, Okay, well,

662
00:33:26,480 --> 00:33:28,680
Speaker 1: we're not going to give you fighter jets, but we'll

663
00:33:28,720 --> 00:33:30,600
Speaker 1: give you something that can do a lot of the

664
00:33:30,640 --> 00:33:33,040
Speaker 1: same things and just doesn't have the messiness of having

665
00:33:33,160 --> 00:33:38,560
Speaker 1: a human being an actual pilot involved. Again, so it's

666
00:33:38,640 --> 00:33:41,640
Speaker 1: not a done deal. Congress could still say no. They

667
00:33:41,720 --> 00:33:45,600
Speaker 1: probably won't, they almost certainly won't, But this is yet

668
00:33:45,840 --> 00:33:49,360
Speaker 1: another escalation, and to go back to where we started

669
00:33:49,560 --> 00:33:53,320
Speaker 1: all of this discussion that Biden op ed. He does

670
00:33:53,480 --> 00:33:57,320
Speaker 1: talk in there about the threat of nuclear weapons, and

671
00:33:57,760 --> 00:34:01,240
Speaker 1: to my mind, the language he uses is very cavalier.

672
00:34:01,520 --> 00:34:04,120
Speaker 1: Oh it's scary. What he says is, I know many

673
00:34:04,160 --> 00:34:06,400
Speaker 1: people around the world are concerned about the use of

674
00:34:06,520 --> 00:34:09,960
Speaker 1: nuclear weapons. Oh really you think so? We currently see

675
00:34:10,040 --> 00:34:13,280
Speaker 1: no indication that Russia has intent to use nuclear weapons

676
00:34:13,320 --> 00:34:17,040
Speaker 1: in Ukraine, though Russia's occasional rhetoric to rattle the nuclear

677
00:34:17,120 --> 00:34:21,359
Speaker 1: saber is itself dangerous and extremely irresponsible. Let me be clear,

678
00:34:21,560 --> 00:34:24,319
Speaker 1: any use of nuclear weapons in this conflict on any

679
00:34:24,400 --> 00:34:27,200
Speaker 1: scale would be completely unacceptable to us as well as

680
00:34:27,239 --> 00:34:30,359
Speaker 1: the rest of the world, and would entail severe consequences.

681
00:34:30,880 --> 00:34:34,360
Speaker 1: So number one, I mean making it very clear that

682
00:34:34,440 --> 00:34:37,280
Speaker 1: if there is any sort of use of a nuclear

683
00:34:37,360 --> 00:34:42,520
Speaker 1: weapon by Russia, that means, yeah, it's on. It's on.

684
00:34:42,680 --> 00:34:47,359
Speaker 1: Effectively what he's saying nuclear war. But also, like I said,

685
00:34:47,560 --> 00:34:52,719
Speaker 1: the downplaying of the risk, the cavalier language here about oh,

686
00:34:52,760 --> 00:34:56,600
Speaker 1: they're just rattling the nuclear saber, I also don't think

687
00:34:56,920 --> 00:35:00,799
Speaker 1: is reflective of the true I mean the true through cataclysm.

688
00:35:00,920 --> 00:35:02,879
Speaker 1: It would be if we ended up in that type

689
00:35:02,880 --> 00:35:06,440
Speaker 1: of conflict. As we've said many, many times, even if

690
00:35:06,800 --> 00:35:12,840
Speaker 1: that risk is very very low, it justifies going to

691
00:35:13,000 --> 00:35:16,239
Speaker 1: extraordinary lengths to make sure that we do not end

692
00:35:16,360 --> 00:35:18,680
Speaker 1: up in that situation. Yeah. Look, it's just all about

693
00:35:18,760 --> 00:35:22,279
Speaker 1: balancing and making sure that we are extraordinarily careful and

694
00:35:22,400 --> 00:35:26,840
Speaker 1: considered in what we have and in considering what we do,

695
00:35:27,239 --> 00:35:30,439
Speaker 1: what we say, and the boxes that it can catch

696
00:35:30,520 --> 00:35:32,759
Speaker 1: you into, because now once you say that, you can't

697
00:35:32,760 --> 00:35:34,800
Speaker 1: take it back. There's a reason that we actually have

698
00:35:35,920 --> 00:35:40,000
Speaker 1: ambiguity around basically our decision making on all things nuclear,

699
00:35:40,040 --> 00:35:43,480
Speaker 1: and it's in order to keep maximal policy options available

700
00:35:43,719 --> 00:35:46,600
Speaker 1: to policy makers in the event that we do ever

701
00:35:46,719 --> 00:35:49,759
Speaker 1: come to such a conflict. And that maximum optionality is

702
00:35:49,800 --> 00:35:52,520
Speaker 1: what saved us during the Cuban missile crisis. It's something

703
00:35:53,000 --> 00:35:55,279
Speaker 1: very key in order to emphasize, which is that only

704
00:35:55,360 --> 00:35:58,400
Speaker 1: because we had President Kennedy who was in charge, and

705
00:35:58,520 --> 00:36:01,160
Speaker 1: he himself probably had served war, was terrified of war,

706
00:36:01,400 --> 00:36:03,799
Speaker 1: had studied the Munich crisis, and had studied so much

707
00:36:03,800 --> 00:36:05,600
Speaker 1: of what happened in World War Two, that we are

708
00:36:05,680 --> 00:36:09,200
Speaker 1: all alive today. That's what really scares the hell out

709
00:36:09,239 --> 00:36:11,400
Speaker 1: of me is their ability, you know, only because you

710
00:36:11,480 --> 00:36:14,120
Speaker 1: had a decent statesman who was in charge. And I

711
00:36:14,160 --> 00:36:15,759
Speaker 1: don't have a lot of confidence looking at where we're

712
00:36:15,800 --> 00:36:21,120
Speaker 1: at right now. Unfortunately. Indeed, let's move on to this

713
00:36:21,239 --> 00:36:25,040
Speaker 1: next one tone shift because this is just a completely

714
00:36:25,160 --> 00:36:27,719
Speaker 1: nuts story and just I think an indication of a

715
00:36:28,800 --> 00:36:30,879
Speaker 1: general vibe shift. I'let me be talking about the vibe

716
00:36:30,880 --> 00:36:33,839
Speaker 1: shift a lot in this show. Let's start here NFTs

717
00:36:34,120 --> 00:36:37,280
Speaker 1: Web three. So much of the discourse YouTube, even our audience.

718
00:36:37,360 --> 00:36:39,000
Speaker 1: We can see in our research there's a lot of

719
00:36:39,040 --> 00:36:42,239
Speaker 1: googling going on for what's happening here. Well, I can't

720
00:36:42,280 --> 00:36:44,960
Speaker 1: tell you everything about it. I've done some dabbling. I

721
00:36:45,040 --> 00:36:47,400
Speaker 1: do not own an NFTs. But let's put this up

722
00:36:47,400 --> 00:36:52,920
Speaker 1: that's true, and we should disclose our conflict of interests

723
00:36:52,920 --> 00:36:55,480
Speaker 1: and breaking points Incorporated owns an NFC. I personally do

724
00:36:55,600 --> 00:36:58,960
Speaker 1: not own ANNFT. We all collectively we own. That's right,

725
00:36:59,000 --> 00:37:02,439
Speaker 1: you Okay, let's throw this up there on the screen,

726
00:37:02,600 --> 00:37:05,400
Speaker 1: which is that now the Department of Justice, and the

727
00:37:05,480 --> 00:37:09,160
Speaker 1: first of its kind, has charging the former employee of

728
00:37:09,239 --> 00:37:12,920
Speaker 1: an NFT marketplace charge in the first ever digital asset

729
00:37:13,080 --> 00:37:16,520
Speaker 1: insider trading scheme. This is extraordinary. Number one is in

730
00:37:16,600 --> 00:37:18,320
Speaker 1: the Southern District of New York, which is one of

731
00:37:18,400 --> 00:37:22,040
Speaker 1: the hallmarks of the financial crimes within the Department of Justice.

732
00:37:22,360 --> 00:37:26,160
Speaker 1: Obviously they represent Manhattan or they cover the area of Manhattan. Now,

733
00:37:26,320 --> 00:37:29,800
Speaker 1: the person who was charged here Nathaniel Chastain. He is

734
00:37:29,920 --> 00:37:32,880
Speaker 1: not just a former product manager at open see. He

735
00:37:33,040 --> 00:37:36,000
Speaker 1: is the former head of product. Now, for those who

736
00:37:36,040 --> 00:37:40,520
Speaker 1: are kind of familiar, open c was the largest NFT marketplace.

737
00:37:40,880 --> 00:37:43,040
Speaker 1: You can think of it almost like an eBay or

738
00:37:43,160 --> 00:37:46,239
Speaker 1: a stock x or something of a collectibles database in

739
00:37:46,360 --> 00:37:48,920
Speaker 1: order to exchange and to buy NFTs. Now, there is

740
00:37:49,040 --> 00:37:51,560
Speaker 1: some problems with open c. Now, for a while there

741
00:37:51,600 --> 00:37:54,400
Speaker 1: were some NFTs that were stolen, certain other things, but

742
00:37:54,520 --> 00:37:58,200
Speaker 1: these guys were making absolutely millions of dollars in terms

743
00:37:58,239 --> 00:38:00,520
Speaker 1: of the board apes and the other ns that were

744
00:38:00,560 --> 00:38:05,719
Speaker 1: exchanging on the platform. Now, Chastain was actually arrested yesterday

745
00:38:05,840 --> 00:38:09,920
Speaker 1: in New York City and was charged here with insider trading,

746
00:38:10,320 --> 00:38:14,040
Speaker 1: with wirefraud, and a host of other financial crimes. Let's

747
00:38:14,040 --> 00:38:16,600
Speaker 1: throw actually, this Vice news piece did a decent job

748
00:38:16,920 --> 00:38:19,520
Speaker 1: of writing all this up, which is that Nathan Chastain,

749
00:38:19,800 --> 00:38:23,960
Speaker 1: who was the former again head of product, used insider

750
00:38:24,120 --> 00:38:27,839
Speaker 1: knowledge to trade NFTs for a profit. And what they

751
00:38:27,920 --> 00:38:31,719
Speaker 1: point to is that Chastain used his insider knowledge to

752
00:38:31,760 --> 00:38:35,560
Speaker 1: purchase NFTs from collections that were about to be featured

753
00:38:35,960 --> 00:38:41,239
Speaker 1: on the marketplace's homepage for personal financial gain. I mean,

754
00:38:41,320 --> 00:38:43,600
Speaker 1: that's the easiest thing to consider in the world. You

755
00:38:43,760 --> 00:38:46,200
Speaker 1: are the head of product, you know which NFTs are

756
00:38:46,200 --> 00:38:48,360
Speaker 1: about to be on them homepage. You know that you

757
00:38:48,480 --> 00:38:51,560
Speaker 1: run the largest marketplace. So you buy Seid NFT, or

758
00:38:51,640 --> 00:38:54,360
Speaker 1: you have a stake in set NFT, and then you

759
00:38:54,440 --> 00:38:56,440
Speaker 1: put it on the homepage and you watch it skyrocket

760
00:38:56,640 --> 00:39:00,200
Speaker 1: in value. And because you control when they go on

761
00:39:00,239 --> 00:39:03,279
Speaker 1: the marketplace or not, you have a tremendous advantage over

762
00:39:03,360 --> 00:39:06,200
Speaker 1: the average person who is participating here. This is like,

763
00:39:06,440 --> 00:39:09,320
Speaker 1: again if the idea, look, this is why we have

764
00:39:09,560 --> 00:39:13,080
Speaker 1: regulated stock exchanges. And look as many problems as we

765
00:39:13,160 --> 00:39:15,239
Speaker 1: have on the NASDAK on the New York Stockey Jay,

766
00:39:15,239 --> 00:39:17,960
Speaker 1: you cannot get away with some this is nineteen tens

767
00:39:18,080 --> 00:39:20,719
Speaker 1: era stuff. Well that's actually a very good point. And

768
00:39:20,840 --> 00:39:23,680
Speaker 1: what they say here is that his NFTs, he would

769
00:39:23,719 --> 00:39:26,440
Speaker 1: sell them then for two to five times his initial investment.

770
00:39:26,800 --> 00:39:29,160
Speaker 1: So his whole game was I'm going to put this

771
00:39:29,280 --> 00:39:32,719
Speaker 1: thing on the homepage tomorrow, by it today. Once I

772
00:39:32,840 --> 00:39:34,799
Speaker 1: feature it, I know the price is going to go up,

773
00:39:34,840 --> 00:39:36,480
Speaker 1: and then I'm going to sell it. I'm gonna I'm

774
00:39:36,480 --> 00:39:39,000
Speaker 1: gonna rake it in. And he sought to hide his

775
00:39:39,120 --> 00:39:44,439
Speaker 1: activity with anonymous crypto wallets and accounts. The DJ also says, so, look,

776
00:39:44,480 --> 00:39:46,560
Speaker 1: we'll wait for all the details to come out, but

777
00:39:46,800 --> 00:39:50,480
Speaker 1: this is extraordinarily damning, and it also is consistent. There's

778
00:39:51,320 --> 00:39:54,800
Speaker 1: I mean, there is just a lot of fraud and

779
00:39:55,640 --> 00:40:00,760
Speaker 1: you know con artist within the NFT world especial also

780
00:40:00,880 --> 00:40:05,160
Speaker 1: within the crypto world. Wall Street Journal did analysis that

781
00:40:05,320 --> 00:40:09,719
Speaker 1: suggested that there was also significant insider trading within the

782
00:40:10,000 --> 00:40:14,200
Speaker 1: crypto world. They did this report that found over six

783
00:40:14,320 --> 00:40:16,680
Speaker 1: days last August, one crypto wallet A massed a stake

784
00:40:16,719 --> 00:40:19,160
Speaker 1: of three hundred and sixty thousand dollars worth of how

785
00:40:19,200 --> 00:40:23,360
Speaker 1: do you say this, sager gnosis Nosis coins, Yeah, a

786
00:40:23,440 --> 00:40:26,440
Speaker 1: token tied to an effort to build blockchain based prediction markets.

787
00:40:26,480 --> 00:40:29,560
Speaker 1: On the seventh day, Binance, the world's largest cryptocurrency exchange

788
00:40:29,600 --> 00:40:32,320
Speaker 1: by volume, set a blog posts it would list Nosis,

789
00:40:32,440 --> 00:40:34,960
Speaker 1: allowing it to be traded among its users. That of

790
00:40:35,040 --> 00:40:38,600
Speaker 1: course adds legitimacy and liquidity to the token and provides

791
00:40:38,640 --> 00:40:41,840
Speaker 1: a boost to the trading price. The price rises sharply

792
00:40:41,920 --> 00:40:43,680
Speaker 1: from around three hundred to four hundred and ten dollars

793
00:40:43,760 --> 00:40:47,600
Speaker 1: within an hour. Then whatever whoever owns this anonymous wallet

794
00:40:47,880 --> 00:40:52,560
Speaker 1: sells and makes massive profit. And this is just one example.

795
00:40:52,920 --> 00:40:56,560
Speaker 1: They found that this routinely happened where you had these

796
00:40:56,800 --> 00:41:03,920
Speaker 1: extremely well timed, extremely well timed acquisitions and sales that

797
00:41:04,200 --> 00:41:05,800
Speaker 1: you know, if you were in a position to know

798
00:41:06,680 --> 00:41:09,239
Speaker 1: what finance is going to do, you could certainly be

799
00:41:09,320 --> 00:41:11,759
Speaker 1: in a position to profit off of it ultimately being

800
00:41:11,960 --> 00:41:14,640
Speaker 1: listed there. So then this of course goes along with

801
00:41:14,800 --> 00:41:18,600
Speaker 1: the pump and dump schemes that we have seen routinely.

802
00:41:19,160 --> 00:41:23,200
Speaker 1: You see Madison Coutharn, you know, promoting the Let's Go

803
00:41:23,360 --> 00:41:25,760
Speaker 1: Brandon coin and then you know they're able to profit

804
00:41:25,760 --> 00:41:27,920
Speaker 1: and then the whole thing falls apart. They know that

805
00:41:28,320 --> 00:41:31,000
Speaker 1: it's about to be picked up as or listed as

806
00:41:31,040 --> 00:41:34,359
Speaker 1: a sponsor for this NASCAR driver, so they pump the thing,

807
00:41:34,440 --> 00:41:36,640
Speaker 1: they get a bunch of people in, and then they're

808
00:41:36,680 --> 00:41:39,440
Speaker 1: able to sell before the bottom falls out. So this

809
00:41:39,640 --> 00:41:41,879
Speaker 1: is just I mean, you know, the thing that makes

810
00:41:41,920 --> 00:41:43,719
Speaker 1: me really mad about it is because there are a

811
00:41:43,760 --> 00:41:47,560
Speaker 1: lot of just ordinary people, yeah, believe in who believe

812
00:41:47,600 --> 00:41:49,799
Speaker 1: in the vision, who have been probably screwed in their

813
00:41:49,840 --> 00:41:53,080
Speaker 1: financial life a million other ways, think maybe this is

814
00:41:53,360 --> 00:41:55,200
Speaker 1: this is the thing that's going to get me ahead,

815
00:41:55,239 --> 00:41:56,680
Speaker 1: that's going to get me in the game, that's going

816
00:41:56,719 --> 00:41:58,279
Speaker 1: to get me, you know, able to have a little

817
00:41:58,280 --> 00:42:01,240
Speaker 1: bit of money in my savings account. They get suckered

818
00:42:01,280 --> 00:42:03,840
Speaker 1: into this with a bunch of lies and promises, and

819
00:42:03,920 --> 00:42:06,640
Speaker 1: then they just get screwed over. And it's discussing. It

820
00:42:06,719 --> 00:42:10,840
Speaker 1: does very much harken back to the days actually building

821
00:42:10,960 --> 00:42:13,640
Speaker 1: up to the Great depression you had for the first

822
00:42:13,719 --> 00:42:18,160
Speaker 1: time Americans en mass dabbling in the stock market and

823
00:42:18,280 --> 00:42:21,120
Speaker 1: being sold the spill of goods very similar. You can't lose,

824
00:42:21,360 --> 00:42:23,600
Speaker 1: it only goes up, and you can buy with this

825
00:42:23,760 --> 00:42:25,920
Speaker 1: this amazing thing where you can buy on margin and like,

826
00:42:26,040 --> 00:42:27,440
Speaker 1: so you can afford to get in here in a

827
00:42:27,520 --> 00:42:29,680
Speaker 1: big way. Why wouldn't you do that. You're just leaving

828
00:42:29,719 --> 00:42:32,000
Speaker 1: free money on the table. That was the rhetoric at

829
00:42:32,040 --> 00:42:36,239
Speaker 1: the time. And so you had all these retail investors who,

830
00:42:36,640 --> 00:42:38,799
Speaker 1: you know, prior to that it had been a very

831
00:42:38,880 --> 00:42:40,799
Speaker 1: elite game to be involved in the stock market at all.

832
00:42:40,880 --> 00:42:43,000
Speaker 1: You have them flooding into the zone, and then that's

833
00:42:43,120 --> 00:42:46,600
Speaker 1: part of you know, the sort of irrational exuberance of

834
00:42:46,640 --> 00:42:49,200
Speaker 1: the stock market that ultimately leads to this is one

835
00:42:49,280 --> 00:42:52,000
Speaker 1: contributing factor, not the only one, but one contributing factor

836
00:42:52,040 --> 00:42:55,680
Speaker 1: to this massive crash where people just got absolutely crushed. Yeah.

837
00:42:55,680 --> 00:42:57,759
Speaker 1: I feel very, very bad for the retail investors. And

838
00:42:57,800 --> 00:42:58,799
Speaker 1: there are a lot of people, you know, I hear

839
00:42:58,800 --> 00:43:00,440
Speaker 1: it from normal people all the time, Oh do you

840
00:43:00,520 --> 00:43:02,000
Speaker 1: know about safe moon? Or like, do you know? And

841
00:43:02,080 --> 00:43:04,840
Speaker 1: I'm like, yo, listen, like you should really be careful

842
00:43:04,880 --> 00:43:06,960
Speaker 1: whenever you try and dabble on this stuff. And I've

843
00:43:06,960 --> 00:43:09,680
Speaker 1: got I've been burned many times. Just so people know

844
00:43:09,840 --> 00:43:12,440
Speaker 1: out there as well, I think what has always been

845
00:43:12,520 --> 00:43:13,759
Speaker 1: I think for me, for a lot of people are

846
00:43:13,760 --> 00:43:15,480
Speaker 1: on the it's exciting, it feels like you're on the

847
00:43:15,600 --> 00:43:17,800
Speaker 1: verge of something new. But I've always known, you know,

848
00:43:17,920 --> 00:43:20,080
Speaker 1: just given my own knowledge of history and more, that

849
00:43:20,120 --> 00:43:23,040
Speaker 1: there was a tremendous amount of obviously criminal behavior going on.

850
00:43:23,160 --> 00:43:25,080
Speaker 1: And I actually think that the worst thing that happened

851
00:43:25,120 --> 00:43:27,560
Speaker 1: to these people is that they started getting filthy rich,

852
00:43:27,640 --> 00:43:29,719
Speaker 1: because that is when the feds are going to start

853
00:43:29,760 --> 00:43:32,320
Speaker 1: to get involved, and like when you have anonymous of

854
00:43:32,320 --> 00:43:35,440
Speaker 1: crypto accounts and more that are worth you know, billions

855
00:43:35,520 --> 00:43:37,960
Speaker 1: of dollars or hundreds of millions, they're going to come

856
00:43:38,000 --> 00:43:41,000
Speaker 1: after you should be involved. Oh oh, I agree, should

857
00:43:41,000 --> 00:43:43,280
Speaker 1: be no, no, no, I support that because you shouldn't

858
00:43:43,280 --> 00:43:45,000
Speaker 1: be allowed to get away with this. And the whole

859
00:43:45,080 --> 00:43:48,680
Speaker 1: point of having a federal backstop is in guaranteeing integrity

860
00:43:48,760 --> 00:43:51,880
Speaker 1: of markets, and so that is very lacking, especially in

861
00:43:51,960 --> 00:43:55,560
Speaker 1: the defied to decentralized financial space and more, when you

862
00:43:55,640 --> 00:43:57,239
Speaker 1: have these stable coins that go to you know, like

863
00:43:57,360 --> 00:43:59,680
Speaker 1: fluctuate down to like fifty percent, even though the whole

864
00:43:59,719 --> 00:44:02,000
Speaker 1: reason supposed to invest them as they're pegged to the

865
00:44:02,160 --> 00:44:04,799
Speaker 1: US dollar and there's some protocol which they tell you works,

866
00:44:04,840 --> 00:44:07,239
Speaker 1: but apparently it doesn't work. The reason why I think

867
00:44:07,280 --> 00:44:10,439
Speaker 1: that this matters too is there are there was a dream.

868
00:44:10,640 --> 00:44:14,400
Speaker 1: I think that this represented some sort of new financial frontier.

869
00:44:14,800 --> 00:44:17,080
Speaker 1: But I think the reality that we're beginning to grapple

870
00:44:17,160 --> 00:44:20,520
Speaker 1: with now that NFT NFT crash has come and gone.

871
00:44:20,600 --> 00:44:23,560
Speaker 1: Let's all be honest, right, massive crash within the space

872
00:44:23,640 --> 00:44:27,000
Speaker 1: ethereum bitcoin, Everything is dramatically down, just like the S

873
00:44:27,080 --> 00:44:29,320
Speaker 1: and P five hundred and the Dow Jones is that

874
00:44:29,960 --> 00:44:32,040
Speaker 1: a lot of these assets, while yes, I believe that

875
00:44:32,080 --> 00:44:35,440
Speaker 1: they represent the technological change and breakthrough in the ability

876
00:44:35,520 --> 00:44:39,600
Speaker 1: to have you know, blockchain transactions which cannot be questioned,

877
00:44:39,640 --> 00:44:41,800
Speaker 1: which you could zip to each other, especially on lightning

878
00:44:41,880 --> 00:44:45,880
Speaker 1: networks and other things that fundamentally, especially just right now

879
00:44:45,960 --> 00:44:49,000
Speaker 1: in a United States like we do need to have

880
00:44:49,160 --> 00:44:52,760
Speaker 1: the ability to have integrity within the market. Otherwise normal

881
00:44:52,840 --> 00:44:56,200
Speaker 1: folks get burned. And especially this is the other thing

882
00:44:56,239 --> 00:44:58,320
Speaker 1: I always think about with these guys like Nathan Chastein

883
00:44:58,360 --> 00:45:00,600
Speaker 1: and others, the amount of docum tation that you have

884
00:45:00,680 --> 00:45:02,879
Speaker 1: to submit to any US financial institution. Do you really

885
00:45:02,920 --> 00:45:04,799
Speaker 1: think you're smart enough to get away with this? They've

886
00:45:04,840 --> 00:45:08,279
Speaker 1: been burning what was it, Ross Olbricht who did the

887
00:45:08,760 --> 00:45:13,279
Speaker 1: drug marketplace to forget what it's called God Road Silk Route.

888
00:45:13,320 --> 00:45:16,040
Speaker 1: Oh yeah, they busted it back in twenty thirteen. They

889
00:45:16,040 --> 00:45:17,719
Speaker 1: will be able to bust a bitcoin while you think

890
00:45:17,719 --> 00:45:19,799
Speaker 1: they're not going to get you, like and the if

891
00:45:19,840 --> 00:45:21,400
Speaker 1: you'd sign up for coinbase or any of these other

892
00:45:21,440 --> 00:45:23,759
Speaker 1: things you have to submit your license, you take like

893
00:45:23,800 --> 00:45:25,680
Speaker 1: a selfie and all this stuff. It's just you know,

894
00:45:25,840 --> 00:45:28,239
Speaker 1: you're not smarter than the FEDS, and once you start

895
00:45:28,280 --> 00:45:30,120
Speaker 1: making millions of dollars like this, like they're going to

896
00:45:30,160 --> 00:45:32,319
Speaker 1: come after you, and they should. Yeah, I think it's

897
00:45:32,360 --> 00:45:35,160
Speaker 1: actually encouraging that they're that they're going after this guy

898
00:45:35,239 --> 00:45:37,080
Speaker 1: that they're because there were some questions about like, Okay,

899
00:45:37,160 --> 00:45:39,920
Speaker 1: do we have do our insider trading laws or are

900
00:45:39,920 --> 00:45:42,600
Speaker 1: they going to apply to these new financial sectors. And

901
00:45:42,880 --> 00:45:46,080
Speaker 1: clearly Southern District in New York is making a very

902
00:45:46,160 --> 00:45:50,520
Speaker 1: clear stand here that yes, just because it's crypto or NFTs,

903
00:45:50,680 --> 00:45:54,160
Speaker 1: the same laws and rules apply here, and guys, you

904
00:45:54,239 --> 00:45:57,360
Speaker 1: want them to listen. Lord knows, we have our problems

905
00:45:57,400 --> 00:45:59,600
Speaker 1: with the federal government here. But the biggest problem if

906
00:45:59,640 --> 00:46:02,239
Speaker 1: you if you put Crypto NFT's the side and you

907
00:46:02,280 --> 00:46:05,239
Speaker 1: think about our financial markets, like the biggest problems there

908
00:46:06,000 --> 00:46:10,759
Speaker 1: came from deregulation. When you had, you know, after the

909
00:46:10,840 --> 00:46:14,160
Speaker 1: Great Depression, you have this you know, institute of new

910
00:46:14,560 --> 00:46:18,160
Speaker 1: rules to make the marketplaces boring, basically to make the

911
00:46:18,200 --> 00:46:21,680
Speaker 1: banking system really boring and keep the most speculative parts

912
00:46:21,719 --> 00:46:24,240
Speaker 1: of it sort of sequestered off from just the normal

913
00:46:24,680 --> 00:46:27,800
Speaker 1: banking And that actually was pretty successful, I mean, and

914
00:46:27,880 --> 00:46:29,719
Speaker 1: had its flaws, but it was pretty successful. It's when

915
00:46:29,760 --> 00:46:32,640
Speaker 1: we start to deregulate and we make it just this

916
00:46:32,960 --> 00:46:37,839
Speaker 1: wild casino that you know, anyone can do anything, that's

917
00:46:37,960 --> 00:46:40,680
Speaker 1: when you end up with the massive crash that we

918
00:46:40,760 --> 00:46:43,080
Speaker 1: see in two thousand and eight and others other crashes

919
00:46:43,120 --> 00:46:48,040
Speaker 1: before that as well. So you want there to be regulation.

920
00:46:48,400 --> 00:46:51,160
Speaker 1: You want the FEDS involved in making sure that there

921
00:46:51,280 --> 00:46:55,840
Speaker 1: isn't just endemic fraud and scams and insider trading. Because

922
00:46:56,200 --> 00:46:59,040
Speaker 1: if it's a wild West kind of a situation, if

923
00:46:59,080 --> 00:47:01,680
Speaker 1: it is like a front yeartown wild West kind of situation,

924
00:47:01,760 --> 00:47:03,399
Speaker 1: We'll guess who's gonna win and who's going to prove

925
00:47:03,440 --> 00:47:05,279
Speaker 1: it there It's going to be the people with you know,

926
00:47:05,360 --> 00:47:07,600
Speaker 1: who were the most ruthless, who are the have the

927
00:47:07,719 --> 00:47:11,960
Speaker 1: least scruples, who are the most immoral, and who are

928
00:47:12,040 --> 00:47:14,560
Speaker 1: the craftiest fraudsters, not the ones who are creating the

929
00:47:14,640 --> 00:47:17,200
Speaker 1: most you know, innovative product that is going to transform

930
00:47:17,239 --> 00:47:19,680
Speaker 1: the financial Yeah. I gotta say, I remember being approached

931
00:47:19,680 --> 00:47:23,200
Speaker 1: about an NFT before we launched, and I just remember thinking, yeah,

932
00:47:23,400 --> 00:47:28,759
Speaker 1: you know, that's just not it. I'm glad I was right.

933
00:47:29,960 --> 00:47:32,040
Speaker 1: Let's go ahead and move on. Here. A lot of

934
00:47:32,160 --> 00:47:35,800
Speaker 1: jury trials to dig into. First and foremost, that was

935
00:47:36,000 --> 00:47:40,560
Speaker 1: Michael Susmen put on trial by the Special Counsel, mister Durham,

936
00:47:40,680 --> 00:47:43,400
Speaker 1: of which there has been the first trial in three years,

937
00:47:43,880 --> 00:47:46,600
Speaker 1: and uh Durham is lost. Let's put this up there

938
00:47:46,880 --> 00:47:49,000
Speaker 1: on the screen. The Special Council has lost his first

939
00:47:49,080 --> 00:47:51,759
Speaker 1: trial of the Trump probe and Michael Sussman has been

940
00:47:51,920 --> 00:47:55,800
Speaker 1: completely acquitted by a jury of his peers here in Washington,

941
00:47:55,880 --> 00:47:58,920
Speaker 1: d C. The theory of the case and the facts

942
00:47:58,960 --> 00:48:02,080
Speaker 1: of it were very interesting, I think from a Russia

943
00:48:02,120 --> 00:48:05,480
Speaker 1: Gate perspective, which is that Sussman himself was indicted on

944
00:48:05,560 --> 00:48:07,400
Speaker 1: a charge that he had lied to the FBI in

945
00:48:07,440 --> 00:48:11,480
Speaker 1: twenty sixteen denying that he was acting directly on behalf

946
00:48:11,520 --> 00:48:14,400
Speaker 1: of the Hillary Clinton campaign when he was pushing a

947
00:48:14,520 --> 00:48:17,320
Speaker 1: story and a theory that the Trump campaign had a

948
00:48:17,400 --> 00:48:21,000
Speaker 1: server which was somehow communicating with a Russian bank known

949
00:48:21,080 --> 00:48:25,200
Speaker 1: as Alpha Bank. Now that story ended up in Slate magazine,

950
00:48:25,560 --> 00:48:28,400
Speaker 1: written by Franklin four in October of twenty sixteen. It

951
00:48:28,480 --> 00:48:31,040
Speaker 1: was one of the closing arguments by Hillary Clinton. And

952
00:48:31,160 --> 00:48:33,160
Speaker 1: now we know, I mean, it was obvious at the

953
00:48:33,200 --> 00:48:35,680
Speaker 1: time that it was a complete BS story, but we

954
00:48:35,880 --> 00:48:39,520
Speaker 1: know now that it was definitively collected, pushed authorized by

955
00:48:39,600 --> 00:48:42,520
Speaker 1: Hillary Clinton herself to take it to the FBI to

956
00:48:42,640 --> 00:48:45,399
Speaker 1: try and drum up some sort of investigation against Trump

957
00:48:45,400 --> 00:48:48,080
Speaker 1: in order to smear him as some sort of Russian asset.

958
00:48:48,200 --> 00:48:50,440
Speaker 1: Well ahead, let me pause you there. We know for

959
00:48:50,640 --> 00:48:53,800
Speaker 1: sure that it was the Hillary Clinton campaign that pushed

960
00:48:53,840 --> 00:48:56,240
Speaker 1: this to the New York Times and pushed it to Sally.

961
00:48:56,520 --> 00:49:00,279
Speaker 1: That is very clear and frankly, I mean, this is

962
00:49:00,480 --> 00:49:05,760
Speaker 1: like shopping it around, is standards dirty and gross practice

963
00:49:05,880 --> 00:49:08,919
Speaker 1: part of the practice. Yes, The question that this case

964
00:49:09,040 --> 00:49:11,440
Speaker 1: turned on was whether or not it was the Clinton

965
00:49:11,520 --> 00:49:14,040
Speaker 1: people who were also directly pushing it to the FBI.

966
00:49:14,800 --> 00:49:18,080
Speaker 1: Durham is saying yes. When Sussman goes to the FBI

967
00:49:18,239 --> 00:49:19,960
Speaker 1: and says, hey, there's this thing going on that I

968
00:49:20,000 --> 00:49:23,400
Speaker 1: think y'all ought to look into, Durham is arguing that

969
00:49:23,719 --> 00:49:26,120
Speaker 1: he was acting on behalf of the Clinton campaign and

970
00:49:26,200 --> 00:49:30,920
Speaker 1: had their best Sussman denied that the whole back and

971
00:49:31,080 --> 00:49:34,960
Speaker 1: forth was, you know, the centered around like one conversation, uh,

972
00:49:35,239 --> 00:49:37,960
Speaker 1: with one dude who didn't take any notes, who kind

973
00:49:38,000 --> 00:49:42,240
Speaker 1: of had a shoddy memory, didn't remember every single detail

974
00:49:42,320 --> 00:49:46,719
Speaker 1: of this conversation. And so you know, I mean, ultimately,

975
00:49:47,040 --> 00:49:49,040
Speaker 1: regardless of what you think about Russia Gate, it was

976
00:49:49,080 --> 00:49:52,719
Speaker 1: a pretty thin charge to ultimately indict in based on

977
00:49:52,920 --> 00:49:54,840
Speaker 1: Let me explain this, and the reason why it matters

978
00:49:55,000 --> 00:49:58,520
Speaker 1: is that the person who he allegedly lied to was

979
00:49:59,000 --> 00:50:02,440
Speaker 1: FBI lawyer James Baker. And Baker himself now works for

980
00:50:02,560 --> 00:50:06,960
Speaker 1: Twitter and left the FBI through scrupulous problems of his own.

981
00:50:07,520 --> 00:50:10,799
Speaker 1: So the fact was is that there was no concrete

982
00:50:10,960 --> 00:50:14,439
Speaker 1: evidence as in an audio recording, a scribbled down note

983
00:50:14,719 --> 00:50:17,960
Speaker 1: in the same way. However, based upon the recollection of

984
00:50:18,200 --> 00:50:22,200
Speaker 1: James Baker, it seemed relatively certain that Michael Sussman did

985
00:50:22,360 --> 00:50:25,040
Speaker 1: lie at that time. Now look, I mean do I

986
00:50:25,120 --> 00:50:27,759
Speaker 1: think he lied, Yeah, I think he did. And do

987
00:50:27,880 --> 00:50:30,239
Speaker 1: I think that they were acting sketchy? I do. The

988
00:50:30,520 --> 00:50:33,080
Speaker 1: issue was that the con and we're going to talk

989
00:50:33,120 --> 00:50:35,760
Speaker 1: about this too in the amber. Her trial is exactly

990
00:50:35,840 --> 00:50:38,800
Speaker 1: about the evidence that you are able to prove and

991
00:50:38,920 --> 00:50:41,960
Speaker 1: to show in a court of law and under that

992
00:50:42,440 --> 00:50:45,480
Speaker 1: they did not meet what the jury standards were. And

993
00:50:45,560 --> 00:50:48,200
Speaker 1: I do also think we should consider this, which is that, look,

994
00:50:48,280 --> 00:50:50,040
Speaker 1: let's be honest, I mean, this is a very liberal jury.

995
00:50:50,120 --> 00:50:53,160
Speaker 1: These are munch of Washington, DC residents. And there was

996
00:50:53,200 --> 00:50:56,480
Speaker 1: this attorney Jonathan Turley who was on Fox earlier, who

997
00:50:56,560 --> 00:50:58,200
Speaker 1: just I didn't even know this in terms of the

998
00:50:58,280 --> 00:51:01,120
Speaker 1: makeup of the jury. These are some of the political

999
00:51:01,200 --> 00:51:03,400
Speaker 1: leanings of the people who decided this case. Let's take

1000
00:51:03,400 --> 00:51:06,480
Speaker 1: a lesson. The problem for Durham is the jury and

1001
00:51:06,600 --> 00:51:08,880
Speaker 1: the judge. I mean, he is facing a jury that

1002
00:51:09,040 --> 00:51:13,320
Speaker 1: is three Clinton donors, an AOC donor, and a woman

1003
00:51:13,360 --> 00:51:16,839
Speaker 1: whose daughter is on the same sports team with Susman's daughter.

1004
00:51:17,040 --> 00:51:19,920
Speaker 1: I mean, the exception of randomly selecting people at the

1005
00:51:20,000 --> 00:51:24,799
Speaker 1: DNC headquarters, you could not come up with a worse jury. Well,

1006
00:51:25,480 --> 00:51:28,000
Speaker 1: not inconvenient. I do want to say that is a

1007
00:51:28,040 --> 00:51:30,359
Speaker 1: jury of his peers, if you consider it that really.

1008
00:51:30,719 --> 00:51:33,320
Speaker 1: I mean, I personally think the jury conversation is a

1009
00:51:33,320 --> 00:51:35,560
Speaker 1: little bit of cope because I think, frankly, I mean

1010
00:51:35,760 --> 00:51:39,960
Speaker 1: it was, first of all, it's fairly unusual to charge

1011
00:51:40,560 --> 00:51:44,640
Speaker 1: just on a relatively minor lie to the FBI. I mean,

1012
00:51:44,680 --> 00:51:46,680
Speaker 1: there's a lot of conversation this on the other side

1013
00:51:46,719 --> 00:51:48,560
Speaker 1: with reguards to Michael Flynn. Yeah, that's what he was

1014
00:51:49,200 --> 00:51:53,239
Speaker 1: was ultimately, Yeah, and so oftentimes, I mean, this is

1015
00:51:53,480 --> 00:51:56,279
Speaker 1: typically more of the view of the left that like,

1016
00:51:56,640 --> 00:51:59,560
Speaker 1: you know, they use this line to the FBI to

1017
00:51:59,880 --> 00:52:02,239
Speaker 1: go after people in the absence of being able to

1018
00:52:02,400 --> 00:52:05,880
Speaker 1: prove a larger charge of conspiracy or whatever. Certainly seems

1019
00:52:05,920 --> 00:52:08,360
Speaker 1: to be the case here. So you already have the

1020
00:52:08,480 --> 00:52:12,480
Speaker 1: fact that this was charged to begin with is questionable.

1021
00:52:12,560 --> 00:52:15,640
Speaker 1: And then I don't think that I think it would

1022
00:52:15,680 --> 00:52:17,840
Speaker 1: have been hard to find a jury based on the

1023
00:52:17,920 --> 00:52:21,759
Speaker 1: evidence presented that wouldn't have said there's some reasonable doubt here,

1024
00:52:22,120 --> 00:52:24,520
Speaker 1: because on the one hand, it's all just based on

1025
00:52:24,560 --> 00:52:26,799
Speaker 1: the word of James Baker, who you've already pointed out

1026
00:52:26,960 --> 00:52:29,040
Speaker 1: not really that credible of a witness. Yeah, he was,

1027
00:52:29,080 --> 00:52:30,239
Speaker 1: you know, he had to be. He had to leave

1028
00:52:30,239 --> 00:52:33,360
Speaker 1: the FBI because of his own scrupulous problems regarding also Russiagate,

1029
00:52:33,440 --> 00:52:37,000
Speaker 1: this right problem. So not a particularly credible witness, doesn't

1030
00:52:37,040 --> 00:52:39,680
Speaker 1: take any notes or have any documentary evidence of what

1031
00:52:39,880 --> 00:52:43,839
Speaker 1: is said. His story changes a couple times, and they

1032
00:52:44,200 --> 00:52:47,000
Speaker 1: did have a text message from Susman when he's setting

1033
00:52:47,040 --> 00:52:50,040
Speaker 1: up this meeting that says directly this is I'm acting

1034
00:52:50,120 --> 00:52:53,959
Speaker 1: on my own behalf here now. So look, you can think, Look,

1035
00:52:54,840 --> 00:52:58,920
Speaker 1: the Clintons are the various people they're not above, you know,

1036
00:52:59,320 --> 00:53:03,319
Speaker 1: doing all all sorts of dirty deeds. But I don't

1037
00:53:03,320 --> 00:53:07,759
Speaker 1: think anyone should be surprised that ultimately the jury very

1038
00:53:07,880 --> 00:53:12,440
Speaker 1: quickly came back with an acquittal year because, yeah, there

1039
00:53:12,640 --> 00:53:17,080
Speaker 1: just was not sufficient evidence here to prove beyond a

1040
00:53:17,160 --> 00:53:20,880
Speaker 1: reasonable doubt that he was in fact lying and that

1041
00:53:20,960 --> 00:53:24,680
Speaker 1: he was representing the Clintons and not just acting, you know,

1042
00:53:25,280 --> 00:53:27,200
Speaker 1: of his own accord. Yeah, I think the main lesson

1043
00:53:27,320 --> 00:53:29,000
Speaker 1: is what you're saying, which is that, Look, I do,

1044
00:53:29,320 --> 00:53:31,160
Speaker 1: and I'm always going to err on the side of

1045
00:53:31,400 --> 00:53:33,520
Speaker 1: it's going to take an extraordinary burden of proof on

1046
00:53:33,600 --> 00:53:35,920
Speaker 1: behalf of the Feds in order to charge anybody and

1047
00:53:36,040 --> 00:53:38,200
Speaker 1: to bring that to me, and I know it should

1048
00:53:38,280 --> 00:53:40,279
Speaker 1: it should be that way. I do think that the

1049
00:53:40,520 --> 00:53:44,600
Speaker 1: facts of the case point to some extraordinarily sketchy behavior

1050
00:53:44,760 --> 00:53:47,600
Speaker 1: on their part in the way that they were acting. However,

1051
00:53:48,080 --> 00:53:50,759
Speaker 1: they actually made a point at the end in their

1052
00:53:50,800 --> 00:53:54,239
Speaker 1: closing arguments Susman's team opposition research is not illegal. If

1053
00:53:54,280 --> 00:53:57,000
Speaker 1: it were, the jails of DC would be teaming over. True.

1054
00:53:57,760 --> 00:54:00,120
Speaker 1: I do actually dig this case, you know, really on

1055
00:54:00,239 --> 00:54:02,239
Speaker 1: all sides. But if you consider also some of the

1056
00:54:02,320 --> 00:54:04,160
Speaker 1: weird stuff Paul Manafort, and all of them were up

1057
00:54:04,200 --> 00:54:07,120
Speaker 1: to Yeah, IM so disgusting. Our entire top echelons of

1058
00:54:07,480 --> 00:54:10,680
Speaker 1: society are Paul Manafort. You know, I think the prosecution

1059
00:54:10,719 --> 00:54:12,320
Speaker 1: of him also was over the top. But like, this

1060
00:54:12,480 --> 00:54:15,239
Speaker 1: guy's like working for all these oligarchs. He has these

1061
00:54:15,360 --> 00:54:18,719
Speaker 1: weird clothes and spending like millions of dollars and yeah,

1062
00:54:18,719 --> 00:54:21,120
Speaker 1: and like you know, all these multime island are wire

1063
00:54:21,160 --> 00:54:23,759
Speaker 1: transfers coming in out of his bank. And then you've

1064
00:54:23,800 --> 00:54:27,120
Speaker 1: got here Michael Sussman, you know, working for the Clinton campaign,

1065
00:54:27,320 --> 00:54:29,640
Speaker 1: Hillary putting together what they know to be a basically

1066
00:54:29,719 --> 00:54:32,239
Speaker 1: bullshit story, but they're going and pushing it anyway because

1067
00:54:32,239 --> 00:54:34,319
Speaker 1: they want to win the election. I just think it's

1068
00:54:34,360 --> 00:54:37,759
Speaker 1: a repulsive view kind of into the center of the

1069
00:54:37,800 --> 00:54:41,319
Speaker 1: way that all of this politics works. Yeah, I mean

1070
00:54:41,360 --> 00:54:44,520
Speaker 1: that beyond any criminality, you know, and the burden of

1071
00:54:44,600 --> 00:54:47,080
Speaker 1: proof and all that. That's my main takeaway. Yeah, that's

1072
00:54:47,239 --> 00:54:49,520
Speaker 1: what a waste of time this country was put through

1073
00:54:49,920 --> 00:54:52,839
Speaker 1: by these people so slazy and in the same way

1074
00:54:52,960 --> 00:54:57,960
Speaker 1: that the maximalist claims of the Russia Gate people were insane,

1075
00:54:58,239 --> 00:55:01,600
Speaker 1: I mean, including the idea that there was this communication

1076
00:55:01,880 --> 00:55:04,320
Speaker 1: by the server that Putin had the you know, the

1077
00:55:04,400 --> 00:55:06,400
Speaker 1: pee tape. All that stuff turns out to be driculous.

1078
00:55:06,480 --> 00:55:09,399
Speaker 1: There were also maximal's claims of you know, the deep

1079
00:55:09,440 --> 00:55:13,359
Speaker 1: state conspiracy folks and the origins of this investigation, which

1080
00:55:13,400 --> 00:55:16,600
Speaker 1: are also you know, preposterous. And I think that is

1081
00:55:16,680 --> 00:55:20,120
Speaker 1: borne out by the fact that this was the big

1082
00:55:20,280 --> 00:55:23,880
Speaker 1: case from Durham. Oh this was number one. This is

1083
00:55:24,120 --> 00:55:26,480
Speaker 1: this was the central thing that he came up with.

1084
00:55:27,280 --> 00:55:32,319
Speaker 1: The charge is very thin. He's unable to prove even

1085
00:55:32,480 --> 00:55:36,279
Speaker 1: any sort of broader like deep state conspiracy kind of thing,

1086
00:55:37,000 --> 00:55:39,480
Speaker 1: and so I do think it also disproves like the

1087
00:55:39,640 --> 00:55:44,200
Speaker 1: maximalist deep state plot conspiracies on that side as well. Yeah,

1088
00:55:44,320 --> 00:55:46,960
Speaker 1: I mean, I think the only takeaway you can think

1089
00:55:47,080 --> 00:55:49,640
Speaker 1: is that this is just really gross, this entire thing.

1090
00:55:49,880 --> 00:55:52,040
Speaker 1: And you know, also there was a lot of cope

1091
00:55:52,120 --> 00:55:54,160
Speaker 1: on the MAGA side of oh, John Durham's going to

1092
00:55:54,200 --> 00:55:56,600
Speaker 1: go and get them, and it's like, guys, been several years.

1093
00:55:56,680 --> 00:55:58,279
Speaker 1: It's like if you really think at this point that

1094
00:55:58,360 --> 00:56:01,399
Speaker 1: that's going to happen, and for us, I'll just let's

1095
00:56:01,440 --> 00:56:04,160
Speaker 1: move on. Ye Hillary was gross, sleeky. That's a good thing.

1096
00:56:04,200 --> 00:56:06,120
Speaker 1: She lost the election, all right, let's just go with that.

1097
00:56:06,480 --> 00:56:09,520
Speaker 1: Let's move on to finally the big the trial of

1098
00:56:09,560 --> 00:56:11,840
Speaker 1: the century. Chris all I gotta say there, I have

1099
00:56:12,040 --> 00:56:14,839
Speaker 1: never seen the amount of public interest in a trial

1100
00:56:15,080 --> 00:56:17,040
Speaker 1: like this. I mean, I guess Rittenhouse, but that was

1101
00:56:17,120 --> 00:56:19,600
Speaker 1: more political. This this is up there in terms of

1102
00:56:19,719 --> 00:56:24,480
Speaker 1: capturing the entire country's attention. So we've done our due diligence,

1103
00:56:24,480 --> 00:56:27,360
Speaker 1: heies newscasters. I've learned as much as I could, diddunation.

1104
00:56:27,640 --> 00:56:31,000
Speaker 1: I did my due diligence. We've got some video here

1105
00:56:31,120 --> 00:56:33,279
Speaker 1: from the direct reading of the verdict here at the

1106
00:56:33,320 --> 00:56:36,560
Speaker 1: trial here actually in the DMV Fairfax, Virginia. Let's take

1107
00:56:36,560 --> 00:56:40,440
Speaker 1: a listen. As against Amber heard we, the jury award

1108
00:56:40,480 --> 00:56:45,480
Speaker 1: compensitory damages in the amount of ten million dollars. As

1109
00:56:45,520 --> 00:56:50,120
Speaker 1: against Amber heard We, the jury award punitive damages in

1110
00:56:50,200 --> 00:56:54,439
Speaker 1: the amount of five million dollars. As against John C. Depp.

1111
00:56:54,520 --> 00:56:58,480
Speaker 1: The second we, the jury award compensatory damages in the

1112
00:56:58,520 --> 00:57:02,399
Speaker 1: amount of two million dollars. As against John C. Depp.

1113
00:57:02,520 --> 00:57:06,320
Speaker 1: The second we, the jury award punitive damages in the

1114
00:57:06,360 --> 00:57:10,239
Speaker 1: amount of zero dollars towards a jured thank you. So

1115
00:57:10,400 --> 00:57:13,160
Speaker 1: there it is an apparent victory there for Johnny Depp.

1116
00:57:13,320 --> 00:57:16,160
Speaker 1: And before everybody jumps down my threat my throat, let

1117
00:57:16,240 --> 00:57:18,920
Speaker 1: me explain. Here's what the jury found, which is that

1118
00:57:19,320 --> 00:57:22,720
Speaker 1: Johnny Depp, to the according to the jury proved that

1119
00:57:22,880 --> 00:57:26,680
Speaker 1: Amber Heard defamed him. Not only did they award Johnny

1120
00:57:26,680 --> 00:57:32,160
Speaker 1: Depp compensitory damages, they also awarded him punitive damages, finding

1121
00:57:32,240 --> 00:57:35,000
Speaker 1: that it was an egregious kind of defamation of his character.

1122
00:57:35,400 --> 00:57:37,440
Speaker 1: They also ruled, and this is what a lot of

1123
00:57:37,480 --> 00:57:40,480
Speaker 1: other people are talking about, that Johnny Depp's team owes

1124
00:57:40,680 --> 00:57:45,320
Speaker 1: two million dollars to Amber Heard because his lawyer, not

1125
00:57:45,680 --> 00:57:50,320
Speaker 1: Johnny Depp, according to the jury, did defame her by

1126
00:57:50,440 --> 00:57:54,280
Speaker 1: finding that by claiming that she set him up to

1127
00:57:54,440 --> 00:57:58,560
Speaker 1: look like a victim of abuse in a hotel room situation. However,

1128
00:57:58,840 --> 00:58:02,400
Speaker 1: in that they own only awarded her two million dollars. Now,

1129
00:58:02,680 --> 00:58:04,840
Speaker 1: the reason why this isn't the mixed bag that I

1130
00:58:04,880 --> 00:58:06,880
Speaker 1: think some of the people in the media are trying

1131
00:58:06,920 --> 00:58:09,880
Speaker 1: to show it is is that Johnny had an extraordinary

1132
00:58:09,960 --> 00:58:12,439
Speaker 1: burden of proof to rise to. He had to prove

1133
00:58:12,800 --> 00:58:16,600
Speaker 1: that never, not in one instance, did the jury believe

1134
00:58:16,880 --> 00:58:21,160
Speaker 1: that he was ever abusive in any form towards Amber heard.

1135
00:58:21,400 --> 00:58:24,240
Speaker 1: The burden of proof, if you think about it, Amberherard's

1136
00:58:24,280 --> 00:58:27,600
Speaker 1: case is the easiest case whenever you're in a tumultuous marriage.

1137
00:58:27,880 --> 00:58:31,440
Speaker 1: She only had to prove that in this crazy, coke fueled,

1138
00:58:31,600 --> 00:58:35,360
Speaker 1: booze fueled, multimillion dollar marriage that only at one point

1139
00:58:35,520 --> 00:58:38,400
Speaker 1: be could she ever critically convinced the jury that she

1140
00:58:38,640 --> 00:58:42,080
Speaker 1: felt abused in any way to then represent herself in

1141
00:58:42,160 --> 00:58:45,280
Speaker 1: this op ed published in The Washington Post in twenty eighteen,

1142
00:58:45,560 --> 00:58:48,680
Speaker 1: where she claimed that she was a public face of

1143
00:58:48,800 --> 00:58:52,120
Speaker 1: abuse now even though she did not even claim Crystal.

1144
00:58:52,400 --> 00:58:54,880
Speaker 1: In this op ed, she never named Johnny Depp one

1145
00:58:55,000 --> 00:58:58,760
Speaker 1: time that he claims that she insinuated and defamed his

1146
00:58:58,880 --> 00:59:01,640
Speaker 1: public character becase because that people would know that she

1147
00:59:01,880 --> 00:59:04,760
Speaker 1: was referring to him. So, yeah, go ahead before continue.

1148
00:59:04,920 --> 00:59:07,720
Speaker 1: Here's so one question I have is, so there was

1149
00:59:07,760 --> 00:59:10,520
Speaker 1: a British court case, yes, as well, and he lost

1150
00:59:10,560 --> 00:59:13,360
Speaker 1: that case. And in that case they found that he

1151
00:59:13,880 --> 00:59:16,280
Speaker 1: tell me if I'm wrong. They found that he abused

1152
00:59:16,320 --> 00:59:19,760
Speaker 1: her on a dozen different occasions. They found that they

1153
00:59:20,040 --> 00:59:22,480
Speaker 1: were convinced it was possible that he abused her. Again,

1154
00:59:22,920 --> 00:59:24,800
Speaker 1: this is civil court, this is not criminal. So this

1155
00:59:24,920 --> 00:59:27,040
Speaker 1: is again, so what they found is that it was

1156
00:59:27,320 --> 00:59:29,840
Speaker 1: possible that that happened, as in that they did not believe,

1157
00:59:29,920 --> 00:59:32,360
Speaker 1: being a shadow of a doubt, that it never happened.

1158
00:59:32,400 --> 00:59:36,320
Speaker 1: So he had to prove here to this jury, yes,

1159
00:59:36,760 --> 00:59:41,800
Speaker 1: that he had never abused her. Yes, and that he

1160
00:59:42,280 --> 00:59:44,960
Speaker 1: was defamed and his career suffered. And all of that

1161
00:59:45,240 --> 00:59:48,360
Speaker 1: certainly is true in terms of his career suffering, Absolutely true.

1162
00:59:48,400 --> 00:59:50,240
Speaker 1: And we should remember also that a lot of this

1163
00:59:50,400 --> 00:59:52,600
Speaker 1: came at the height of the Me Too movement, and

1164
00:59:52,680 --> 00:59:57,400
Speaker 1: depth was essentially moved out of Hollywood based upon complete

1165
00:59:57,440 --> 00:59:59,960
Speaker 1: hearsay by Amber her. Let me ask you another question.

1166
01:00:00,440 --> 01:00:05,040
Speaker 1: So there were pictures that she showed of what bruises

1167
01:00:05,240 --> 01:00:07,880
Speaker 1: and hair pulls, as a lot to say about these bruises, right,

1168
01:00:07,960 --> 01:00:12,360
Speaker 1: because so, I know is a lot of attention. And again, guys,

1169
01:00:12,560 --> 01:00:15,000
Speaker 1: I did not follow this, yeah at all. I'm like

1170
01:00:15,120 --> 01:00:18,000
Speaker 1: the only person in the country who was like, I'm

1171
01:00:18,080 --> 01:00:19,800
Speaker 1: not digging. I'm just not going to dig into this.

1172
01:00:20,160 --> 01:00:22,480
Speaker 1: So I'm truly coming from a place of ignorance here.

1173
01:00:23,120 --> 01:00:26,440
Speaker 1: So her behavior, I know, was the subject of a

1174
01:00:26,480 --> 01:00:29,400
Speaker 1: lot of discussion, Like I do know about the pooping

1175
01:00:29,440 --> 01:00:33,480
Speaker 1: on the bed and like, yeah, those so her behavior

1176
01:00:33,560 --> 01:00:35,720
Speaker 1: was a subject of a lot of discussion, But isn't

1177
01:00:35,760 --> 01:00:40,080
Speaker 1: that irrelevant to whether or not he abused her. That's right,

1178
01:00:40,120 --> 01:00:43,080
Speaker 1: it is irrelevant. However, what Johnny Depp's team was able

1179
01:00:43,120 --> 01:00:46,520
Speaker 1: to show is that amberhard absolutely, at the very least

1180
01:00:46,600 --> 01:00:49,000
Speaker 1: overrepresented it and it possibly made up a lot of

1181
01:00:49,120 --> 01:00:51,760
Speaker 1: what these so called bruises and photos were showing. So,

1182
01:00:51,880 --> 01:00:54,000
Speaker 1: for example, she said that she had to use a

1183
01:00:54,040 --> 01:00:56,600
Speaker 1: type of makeup in order to cover up this bruise,

1184
01:00:56,640 --> 01:00:58,440
Speaker 1: and she named a specific brand. They didn't even make

1185
01:00:58,480 --> 01:01:00,560
Speaker 1: that brand and makeup at the time was claiming that

1186
01:01:00,640 --> 01:01:02,560
Speaker 1: she was using it for So there was several other

1187
01:01:02,680 --> 01:01:05,400
Speaker 1: instances in which she was caught in very direct lies

1188
01:01:05,640 --> 01:01:09,240
Speaker 1: around the exact circumstances of her abuse. And you know,

1189
01:01:09,400 --> 01:01:12,560
Speaker 1: I personally, personally, I don't know. It seems clear that

1190
01:01:12,920 --> 01:01:14,760
Speaker 1: this was some crazy stuff that was going on, and

1191
01:01:14,840 --> 01:01:17,880
Speaker 1: Johnny was in a very verb These are a very

1192
01:01:18,120 --> 01:01:22,400
Speaker 1: very I mean, these are deep in Hollywood celebrity narcissist.

1193
01:01:22,440 --> 01:01:24,160
Speaker 1: I mean it's clear too, you know, Jeff was Depp

1194
01:01:24,240 --> 01:01:25,800
Speaker 1: was basically like, I don't care about the money. I'm

1195
01:01:25,800 --> 01:01:27,720
Speaker 1: going to sue you into oblivion and I want to

1196
01:01:27,800 --> 01:01:30,080
Speaker 1: ruin your public reputation, and I think the reason that

1197
01:01:30,120 --> 01:01:34,440
Speaker 1: he succeeded, unfortunately, is that amber Heard is kind of crazy.

1198
01:01:34,600 --> 01:01:36,320
Speaker 1: I mean, what really comes out of this is he

1199
01:01:36,400 --> 01:01:39,640
Speaker 1: had audio recordings of her being very abusive to him,

1200
01:01:40,040 --> 01:01:43,040
Speaker 1: of even admitting that she instigated a physically She said

1201
01:01:43,120 --> 01:01:46,000
Speaker 1: on tape that she instigated a physical fight with him.

1202
01:01:46,400 --> 01:01:49,240
Speaker 1: And I think the takeaway for me is that this

1203
01:01:49,400 --> 01:01:54,200
Speaker 1: jury found in no, They found no credibility to a

1204
01:01:54,480 --> 01:01:58,640
Speaker 1: single one of her accusations against her against him, And

1205
01:01:58,760 --> 01:02:00,840
Speaker 1: I think that the reason that John was able to

1206
01:02:00,880 --> 01:02:03,440
Speaker 1: succeed is that they just poked holes. And again the

1207
01:02:03,560 --> 01:02:07,880
Speaker 1: makeup lies to me. Actually, the most telling scene from

1208
01:02:07,920 --> 01:02:12,360
Speaker 1: this entire thing, Crystal is whenever amber Heard very clearly

1209
01:02:12,520 --> 01:02:14,920
Speaker 1: was trying to use her abuse allegations in more in

1210
01:02:15,040 --> 01:02:18,080
Speaker 1: order to burst bolster her public image. So, for example,

1211
01:02:18,400 --> 01:02:20,360
Speaker 1: she had said that she was going to take all

1212
01:02:20,480 --> 01:02:22,640
Speaker 1: of the money that she received in this divorce settlement

1213
01:02:22,880 --> 01:02:25,680
Speaker 1: and give it to charity. And so there's a great

1214
01:02:25,760 --> 01:02:28,400
Speaker 1: clip of a cross examination where the lawyer is like,

1215
01:02:28,640 --> 01:02:30,160
Speaker 1: you said you were going to donate all this money.

1216
01:02:30,320 --> 01:02:31,960
Speaker 1: Did you do it? And she goes, I pledged to

1217
01:02:32,000 --> 01:02:33,600
Speaker 1: give all the money. She's like that's not what I

1218
01:02:33,640 --> 01:02:35,800
Speaker 1: asked you. She goes, yeah, I pledged to give the money.

1219
01:02:35,880 --> 01:02:37,240
Speaker 1: When you buy a house, you don't give all of

1220
01:02:37,280 --> 01:02:39,760
Speaker 1: the money. You buy a mortgage, you give some of

1221
01:02:39,800 --> 01:02:41,600
Speaker 1: the money. And she goes, I couldn't give it, and

1222
01:02:41,600 --> 01:02:43,280
Speaker 1: she goes, I also couldn't do it because Johnny was

1223
01:02:43,360 --> 01:02:45,240
Speaker 1: suing me. And she's like, well, hold on a second.

1224
01:02:45,360 --> 01:02:47,200
Speaker 1: You got the money on this date and he didn't

1225
01:02:47,200 --> 01:02:49,240
Speaker 1: sue you until eleven months later. So why did you

1226
01:02:49,280 --> 01:02:51,640
Speaker 1: have seven million dollars just sitting here bank account and

1227
01:02:51,760 --> 01:02:54,200
Speaker 1: not give it to charity? And that comes actually to

1228
01:02:54,280 --> 01:02:57,280
Speaker 1: the genesis which is much grosser to me of this

1229
01:02:57,480 --> 01:03:01,440
Speaker 1: entire thing, which is that Amber heard this op ed

1230
01:03:01,920 --> 01:03:05,680
Speaker 1: was pitched and placed in the Washington Post by the ACLU.

1231
01:03:06,040 --> 01:03:07,800
Speaker 1: This is the one part I do know about it. Yeah,

1232
01:03:07,840 --> 01:03:12,520
Speaker 1: because she promised them three and a half million dollars

1233
01:03:12,760 --> 01:03:16,040
Speaker 1: in a donation direct pay for play. I'm a victim

1234
01:03:16,640 --> 01:03:19,120
Speaker 1: of domestic abuse and I'm going to give you three

1235
01:03:19,120 --> 01:03:20,480
Speaker 1: and a half million. You guys have to support me.

1236
01:03:20,760 --> 01:03:22,360
Speaker 1: So they wrote this op ed for her with her,

1237
01:03:22,720 --> 01:03:25,600
Speaker 1: they placed it in the Washington Post on her behalf. Well,

1238
01:03:26,040 --> 01:03:27,560
Speaker 1: she didn't even give them any of that money, she

1239
01:03:27,640 --> 01:03:29,760
Speaker 1: only gave them some three hundred thousand dollars, and in

1240
01:03:29,840 --> 01:03:33,640
Speaker 1: fact Elon Musk later because he was dating her, had

1241
01:03:33,680 --> 01:03:36,600
Speaker 1: to pay some of the balance to the ACLU. It's

1242
01:03:36,640 --> 01:03:40,000
Speaker 1: on behalf of on behalf of Amber heard the downfall

1243
01:03:40,000 --> 01:03:43,560
Speaker 1: of the ACLU. It genuinely does make me really sad.

1244
01:03:43,640 --> 01:03:45,800
Speaker 1: I mean, they just are not the organization that they

1245
01:03:45,880 --> 01:03:49,480
Speaker 1: used to be, period, end of story. They after, it seems,

1246
01:03:49,840 --> 01:03:53,960
Speaker 1: the reporting suggests after Charlottesville, when they stood up for

1247
01:03:54,040 --> 01:03:57,880
Speaker 1: the right of those you know, disgusting like white nationalist

1248
01:03:57,920 --> 01:04:01,280
Speaker 1: people to march in Charlottesville, which is very consistent. It's

1249
01:04:01,440 --> 01:04:06,600
Speaker 1: very controversial obviously, also very consistent with you know, what

1250
01:04:06,760 --> 01:04:11,240
Speaker 1: they have stood for for the entirety of that organization's existence.

1251
01:04:11,760 --> 01:04:14,000
Speaker 1: There was such a backlash to that, and then you

1252
01:04:14,120 --> 01:04:17,360
Speaker 1: also had such a you know, an opportunity to grift

1253
01:04:17,440 --> 01:04:20,240
Speaker 1: off of the like anti Trump resistance movement that they

1254
01:04:20,400 --> 01:04:23,080
Speaker 1: just completely I don't even know what the ACLU is

1255
01:04:23,320 --> 01:04:25,880
Speaker 1: or stands for at this point, and this is just

1256
01:04:26,040 --> 01:04:28,640
Speaker 1: to me one more example of how far they have

1257
01:04:28,760 --> 01:04:32,600
Speaker 1: fallen that they like, what are you doing ghost writing

1258
01:04:32,680 --> 01:04:35,360
Speaker 1: this op ed pay for play in exchange for this

1259
01:04:35,560 --> 01:04:37,480
Speaker 1: pledge of money that then you know they don't even

1260
01:04:37,520 --> 01:04:40,040
Speaker 1: get the full the full amount of So that part

1261
01:04:40,120 --> 01:04:42,400
Speaker 1: to me is really it is really sad because we

1262
01:04:42,560 --> 01:04:46,760
Speaker 1: need an organization like the ACLU, and it's one of

1263
01:04:47,200 --> 01:04:50,880
Speaker 1: very few nonprofits that you could have pointed to that says,

1264
01:04:51,080 --> 01:04:53,720
Speaker 1: you know, they have this principle. It's kind of sometimes

1265
01:04:53,800 --> 01:04:56,320
Speaker 1: it pisses off the less, sometimes it pisss off the right,

1266
01:04:56,400 --> 01:04:58,400
Speaker 1: but you always know where they're going to be, and

1267
01:04:58,760 --> 01:05:01,200
Speaker 1: you know, guarding our civil liber is extremely important. So

1268
01:05:02,040 --> 01:05:03,960
Speaker 1: you know, one more sign of their downfall to me,

1269
01:05:04,160 --> 01:05:07,680
Speaker 1: is very distressing. I want to Okay, so some of

1270
01:05:07,720 --> 01:05:09,280
Speaker 1: the comment I want to stand up for the people

1271
01:05:09,320 --> 01:05:12,840
Speaker 1: who have looked at this and said that the verdict

1272
01:05:13,160 --> 01:05:15,920
Speaker 1: is going to uh, it's going to send a message

1273
01:05:15,960 --> 01:05:20,520
Speaker 1: to other victims of domestic abuse that you can't speak

1274
01:05:20,600 --> 01:05:23,680
Speaker 1: out because ultimately you know you're going to be punished.

1275
01:05:23,800 --> 01:05:25,640
Speaker 1: And that's what amberer is claiming. Yeah, so what do

1276
01:05:25,720 --> 01:05:28,440
Speaker 1: you what do you make of that claim? It's complicated.

1277
01:05:28,560 --> 01:05:30,800
Speaker 1: I think it's very hard. And I was telling you before,

1278
01:05:30,920 --> 01:05:32,840
Speaker 1: which is that in a way, you know, I do

1279
01:05:33,040 --> 01:05:35,560
Speaker 1: think that the defamation standard for public figures, especially for

1280
01:05:35,680 --> 01:05:37,320
Speaker 1: Johnny Depp. He's what one of the most famous people

1281
01:05:37,400 --> 01:05:39,800
Speaker 1: in the world, So for you know, to be able

1282
01:05:39,840 --> 01:05:44,120
Speaker 1: to prove defamation against somebody like him should be extraordinarily high. Johnny,

1283
01:05:44,400 --> 01:05:46,560
Speaker 1: let's not be honest here, you know, for Johnny stands

1284
01:05:46,680 --> 01:05:49,480
Speaker 1: he did not comport himself in a nice way. Yeah, well,

1285
01:05:49,560 --> 01:05:53,000
Speaker 1: I'm just looking at text messages that said I will

1286
01:05:53,080 --> 01:05:57,320
Speaker 1: fuck her burnt corpse. Yes, let's burn Amber, let's drown

1287
01:05:57,400 --> 01:05:58,960
Speaker 1: or before we burn it. So I think he called

1288
01:05:59,000 --> 01:06:01,600
Speaker 1: her like a filthy look was terrible stuff, you know,

1289
01:06:01,800 --> 01:06:04,400
Speaker 1: not in a good place. Clearly, I'm not excusing any

1290
01:06:04,400 --> 01:06:07,560
Speaker 1: of his behavior whatsoever. I think that's part of the problem.

1291
01:06:08,240 --> 01:06:09,480
Speaker 1: And this is why I look at it more of

1292
01:06:09,520 --> 01:06:12,720
Speaker 1: a social commentary on the merits look in terms of

1293
01:06:12,760 --> 01:06:15,240
Speaker 1: the expansive view of the word abusive and all that.

1294
01:06:15,520 --> 01:06:16,880
Speaker 1: You know, given the fact that he was like riding

1295
01:06:16,960 --> 01:06:19,560
Speaker 1: in blood with his finger and this really gross stuff

1296
01:06:19,760 --> 01:06:21,800
Speaker 1: that was happening here, this seems like a dramatic and

1297
01:06:22,280 --> 01:06:27,760
Speaker 1: tumultuous home place where in that expansive definition, just giving

1298
01:06:27,800 --> 01:06:29,640
Speaker 1: the verbal abuse and all that, I'm not saying that

1299
01:06:29,760 --> 01:06:33,400
Speaker 1: she wasn't leveling that against him too, though that probably

1300
01:06:33,440 --> 01:06:36,360
Speaker 1: seems correct. I think this is as a social commentary

1301
01:06:36,840 --> 01:06:40,520
Speaker 1: by the jury was so repulsed by Amber Heard and

1302
01:06:40,680 --> 01:06:44,320
Speaker 1: her clear want to turn herself into a victim and

1303
01:06:44,560 --> 01:06:47,400
Speaker 1: use her victim hood status to bolster her image in

1304
01:06:47,480 --> 01:06:51,240
Speaker 1: Hollywood and to gain social cachet, that they decided to say,

1305
01:06:51,680 --> 01:06:54,600
Speaker 1: screw you, We're gonna make you pay now. Look, because

1306
01:06:54,640 --> 01:06:57,040
Speaker 1: the state of Virginia actually has caps on punitive damages,

1307
01:06:57,200 --> 01:06:59,600
Speaker 1: that's going to automatically lower to three hundred and fifty thousand.

1308
01:07:00,000 --> 01:07:02,360
Speaker 1: I never cared about that. It was about reclaiming his name.

1309
01:07:02,640 --> 01:07:05,000
Speaker 1: And I think that what has come through this is

1310
01:07:05,400 --> 01:07:09,440
Speaker 1: the final death of the just on one word alone.

1311
01:07:09,880 --> 01:07:12,920
Speaker 1: He abused me of the destruction of a person's reputation

1312
01:07:13,000 --> 01:07:15,080
Speaker 1: in public. To me, this very much seems as a

1313
01:07:15,560 --> 01:07:17,680
Speaker 1: mark in the me too kind of away from the

1314
01:07:17,720 --> 01:07:22,080
Speaker 1: me too movement towards a real I think, a fed

1315
01:07:22,200 --> 01:07:24,120
Speaker 1: up feeling amongst a lot of people. And look, this

1316
01:07:24,240 --> 01:07:27,360
Speaker 1: is Fairfax, Virginia. This is a liberal place. This is

1317
01:07:27,480 --> 01:07:31,840
Speaker 1: not youngkin country. To even have those people feel repulsed

1318
01:07:31,880 --> 01:07:34,480
Speaker 1: by her. And also, let's go ahead and let's throw

1319
01:07:34,560 --> 01:07:37,800
Speaker 1: up this. There we go. America had more interest in

1320
01:07:37,840 --> 01:07:41,280
Speaker 1: the Depth Heard trial than abortion more than Elon Musk

1321
01:07:41,400 --> 01:07:44,480
Speaker 1: is one of the most interested in stories in the

1322
01:07:44,640 --> 01:07:46,520
Speaker 1: entire country, which is how you guys know, we don't

1323
01:07:46,680 --> 01:07:49,240
Speaker 1: do clickbait here. That's right, we haven't covered it until

1324
01:07:49,240 --> 01:07:51,919
Speaker 1: the end. I'm covering the story. The reason, I think again,

1325
01:07:52,040 --> 01:07:54,000
Speaker 1: I'm looking at in the socio political view, the reason

1326
01:07:54,040 --> 01:07:55,920
Speaker 1: why a lot of people were invested, A lot of

1327
01:07:55,960 --> 01:07:58,760
Speaker 1: people were, you know, beyond the lurid details of the

1328
01:07:58,880 --> 01:08:01,320
Speaker 1: shitting in the beds and all of that, was this

1329
01:08:01,520 --> 01:08:05,040
Speaker 1: really was kind of a new era of actually litigating

1330
01:08:05,080 --> 01:08:07,520
Speaker 1: this in court, showing kind of both sides of the story.

1331
01:08:07,880 --> 01:08:09,480
Speaker 1: And I look at it. Look, I mean, I think

1332
01:08:09,480 --> 01:08:11,160
Speaker 1: anybody can look at this mood. These people are crazy,

1333
01:08:12,720 --> 01:08:17,519
Speaker 1: I guess that's yeah. My instinct and my opinion on

1334
01:08:17,600 --> 01:08:19,840
Speaker 1: this again, guys, is worthless because I really have to

1335
01:08:19,960 --> 01:08:23,759
Speaker 1: put it. But my instinct here is that this doesn't

1336
01:08:23,840 --> 01:08:28,439
Speaker 1: actually have that many broader societal implications because it's not

1337
01:08:28,680 --> 01:08:33,240
Speaker 1: like this story is relatable like a couple of multimillionaires

1338
01:08:33,720 --> 01:08:37,360
Speaker 1: who are out of their minds, you know, pledging multimillion

1339
01:08:37,439 --> 01:08:40,719
Speaker 1: dollar donations to the ACLU and having them ghost write

1340
01:08:40,760 --> 01:08:43,840
Speaker 1: and up ed and having your acting career like it's

1341
01:08:43,920 --> 01:08:48,320
Speaker 1: not like a super relatable story, So I'm a little skeptical.

1342
01:08:49,000 --> 01:08:50,960
Speaker 1: Why do you think it captures so much public attention?

1343
01:08:51,880 --> 01:08:56,200
Speaker 1: Our brains have been rotted by the celebrity gossip bullshit culture.

1344
01:08:56,400 --> 01:09:00,160
Speaker 1: I mean, you know the details are. It's sex and

1345
01:09:00,360 --> 01:09:03,920
Speaker 1: violence and shitting in the bed for these like incredibly

1346
01:09:04,120 --> 01:09:07,479
Speaker 1: famous people who are supposed to be sort of, you know,

1347
01:09:07,760 --> 01:09:11,559
Speaker 1: the our cultural elite and do no wrong. We've long

1348
01:09:11,680 --> 01:09:15,719
Speaker 1: been fixated on this sort of like celebrity culture drama.

1349
01:09:16,120 --> 01:09:18,840
Speaker 1: So it's why, like the Kardashians are some of our

1350
01:09:18,960 --> 01:09:22,320
Speaker 1: foremost figures, right, and why everyone was so fixated on

1351
01:09:22,640 --> 01:09:26,120
Speaker 1: the drama, including myself, I confess, between her and Kanye.

1352
01:09:26,560 --> 01:09:29,599
Speaker 1: You know, this is why the oj Simpson murder trial

1353
01:09:30,200 --> 01:09:33,960
Speaker 1: that truly transform I mean talk about transport that transformed

1354
01:09:33,960 --> 01:09:38,080
Speaker 1: but right, but it did, But it also that had

1355
01:09:38,160 --> 01:09:41,160
Speaker 1: a toxic brew of like yeah, sacks of violence and

1356
01:09:41,600 --> 01:09:45,000
Speaker 1: all of that as well, which completely transformed an entire

1357
01:09:45,160 --> 01:09:50,680
Speaker 1: era of television. So it's not surprising to me that

1358
01:09:51,040 --> 01:09:56,160
Speaker 1: people are fixated on this because we're conditioned to be

1359
01:09:56,360 --> 01:10:00,240
Speaker 1: distracted and titillated by this like celebrity gossip bl shit

1360
01:10:00,360 --> 01:10:03,240
Speaker 1: culture stuff. Yeah. No, look, maybe you're right. I truly

1361
01:10:03,320 --> 01:10:05,320
Speaker 1: have no idea. I have been stunned by the level

1362
01:10:05,360 --> 01:10:08,560
Speaker 1: of public interest in this. Really. I mean everybody, every newstand,

1363
01:10:08,760 --> 01:10:12,240
Speaker 1: every top story, New York Times doing push notifications, even

1364
01:10:12,320 --> 01:10:13,880
Speaker 1: in terms of you know, people I hear out on

1365
01:10:13,920 --> 01:10:16,040
Speaker 1: the strip. I literally heard people talking about It's like

1366
01:10:16,120 --> 01:10:18,599
Speaker 1: at the grocery store, yeah about then did you see

1367
01:10:18,640 --> 01:10:21,479
Speaker 1: what happened? And like this lawyer is now for Johnny's

1368
01:10:21,560 --> 01:10:25,000
Speaker 1: lawyer is. Yeah. But the people but I know are

1369
01:10:25,040 --> 01:10:27,960
Speaker 1: really into this. They're not particularly into it from a

1370
01:10:28,160 --> 01:10:30,200
Speaker 1: like what does this say about the broader metio? But

1371
01:10:30,240 --> 01:10:32,680
Speaker 1: nobody ever writes about domestic about it. It's like very

1372
01:10:32,760 --> 01:10:36,120
Speaker 1: much about the characters and the storyline, and the same

1373
01:10:36,200 --> 01:10:38,759
Speaker 1: reason that people are obsessed with these like true crime

1374
01:10:39,479 --> 01:10:42,360
Speaker 1: podcasts and whatever. I mean, that's a dark one. You know,

1375
01:10:42,560 --> 01:10:47,719
Speaker 1: we're naturally fascinated by the by the lurid. And also

1376
01:10:48,160 --> 01:10:50,559
Speaker 1: I do think there's something in particular about these people

1377
01:10:50,560 --> 01:10:53,120
Speaker 1: who are supposed to be above it all and you

1378
01:10:53,240 --> 01:10:56,960
Speaker 1: see them, like, you know, looking so glamorous, and then

1379
01:10:57,040 --> 01:10:59,040
Speaker 1: to get that peak behind the curtain of what was

1380
01:10:59,280 --> 01:11:03,280
Speaker 1: really going on in that relationship. Yeah, people are going

1381
01:11:03,320 --> 01:11:05,120
Speaker 1: to be titillated, but I would not wish either of

1382
01:11:05,200 --> 01:11:10,599
Speaker 1: them on their on my own worst enemy. All right, Sager.

1383
01:11:10,760 --> 01:11:12,360
Speaker 1: All that being said, what are you looking at? We

1384
01:11:12,479 --> 01:11:14,240
Speaker 1: talked a lot on the show about how corporate price

1385
01:11:14,320 --> 01:11:16,960
Speaker 1: gouging is responsible for a lot of inflation in this country.

1386
01:11:17,200 --> 01:11:20,960
Speaker 1: The idea being that because consumers are accustomed to increasing prices,

1387
01:11:21,240 --> 01:11:23,960
Speaker 1: companies can then increase prices for whatever reason that they

1388
01:11:24,040 --> 01:11:26,320
Speaker 1: want and you will not be as price sensitive or

1389
01:11:26,320 --> 01:11:28,960
Speaker 1: shocked and try to seek out alternatives. That was something

1390
01:11:29,080 --> 01:11:31,920
Speaker 1: openly bragged about on many earnings calls in twenty twenty one,

1391
01:11:32,000 --> 01:11:34,280
Speaker 1: and I want to start by acknowledging and saying it

1392
01:11:34,360 --> 01:11:37,160
Speaker 1: was a very real phenomena my friend Tom and Joseph

1393
01:11:37,160 --> 01:11:39,000
Speaker 1: Smith over at the New York Times, he notes that

1394
01:11:39,120 --> 01:11:42,000
Speaker 1: many corporations over the last two years actually made higher

1395
01:11:42,120 --> 01:11:45,320
Speaker 1: profits based upon selling a lower number of goods. That's

1396
01:11:45,400 --> 01:11:48,040
Speaker 1: because the price of those less number of goods was

1397
01:11:48,200 --> 01:11:51,439
Speaker 1: so high. In the aggregate. They actually found over two

1398
01:11:51,520 --> 01:11:54,920
Speaker 1: thousand publicly traded companies outside the financial sector. Most of

1399
01:11:55,000 --> 01:11:59,400
Speaker 1: them increase sales faster than expenses, despite the many challenges

1400
01:11:59,439 --> 01:12:02,800
Speaker 1: around the apply chain, labor costs and more earning An

1401
01:12:02,880 --> 01:12:06,320
Speaker 1: extra two hundred billion dollars a year in profit than

1402
01:12:06,360 --> 01:12:09,439
Speaker 1: the year before. So those profit margins, which were fueled

1403
01:12:09,520 --> 01:12:12,320
Speaker 1: by consumer willingness to put up with corporate price increases,

1404
01:12:12,640 --> 01:12:16,000
Speaker 1: increase in demand post pandemic, and then loose monetary policy,

1405
01:12:16,200 --> 01:12:18,920
Speaker 1: were the three key factors in booming the stock market

1406
01:12:19,000 --> 01:12:21,360
Speaker 1: over the last two years. But and this is the

1407
01:12:21,439 --> 01:12:24,400
Speaker 1: key part of Towman's piece, the music is beginning to

1408
01:12:24,520 --> 01:12:27,000
Speaker 1: stop and a new story is starting to be written

1409
01:12:27,040 --> 01:12:30,000
Speaker 1: for the US economy, first and foremost, as we've already

1410
01:12:30,000 --> 01:12:32,280
Speaker 1: covered here, there are a lot of bad signs in

1411
01:12:32,320 --> 01:12:34,760
Speaker 1: the US economy right now. The savings rate is at

1412
01:12:34,760 --> 01:12:36,960
Speaker 1: the lowest level since two thousand and eight. Credit card

1413
01:12:37,000 --> 01:12:38,920
Speaker 1: debt just hit a new record since two thousand and five.

1414
01:12:39,120 --> 01:12:41,840
Speaker 1: The Federal Reserve is jacking up interest rates, gases five

1415
01:12:41,880 --> 01:12:45,040
Speaker 1: dollars a gallon. Of course, food is experienced double digit inflation.

1416
01:12:45,400 --> 01:12:47,519
Speaker 1: You combine all of those and you see a major

1417
01:12:47,600 --> 01:12:50,080
Speaker 1: reduction in the coming year or two of the American

1418
01:12:50,160 --> 01:12:54,559
Speaker 1: ability to spend money. What is that? What that means, though,

1419
01:12:54,920 --> 01:12:58,400
Speaker 1: is at seventy percent of our entire economy consists of

1420
01:12:58,520 --> 01:13:02,200
Speaker 1: consumer spendings down by even a couple of percent. That

1421
01:13:02,360 --> 01:13:05,760
Speaker 1: is catastrophic for millions of people in small businesses. So

1422
01:13:05,920 --> 01:13:08,240
Speaker 1: as before, when the stock market was pricing in high

1423
01:13:08,280 --> 01:13:12,000
Speaker 1: profits from companies, loose monetary policy and increasing consumer demand,

1424
01:13:12,280 --> 01:13:15,280
Speaker 1: the stock market was going up. But now the stock

1425
01:13:15,360 --> 01:13:19,320
Speaker 1: market doesn't really care about yesterday. It's about future value,

1426
01:13:19,560 --> 01:13:21,880
Speaker 1: and companies appear to have squeezed a lot of what

1427
01:13:22,000 --> 01:13:24,880
Speaker 1: they can from price gouging at this point. In fact,

1428
01:13:24,960 --> 01:13:27,519
Speaker 1: on the very same earnings calls where executives used to

1429
01:13:27,560 --> 01:13:30,679
Speaker 1: brag about price increase, they are now complaining that they've

1430
01:13:30,720 --> 01:13:33,160
Speaker 1: gotten all that they can from the price increase and

1431
01:13:33,240 --> 01:13:35,760
Speaker 1: say that the supply chain crisis sees no signs of

1432
01:13:35,840 --> 01:13:39,080
Speaker 1: abating increasing costs and is taking away their ability to

1433
01:13:39,160 --> 01:13:42,280
Speaker 1: make further profit worse, on top of supply chain wows

1434
01:13:42,360 --> 01:13:45,439
Speaker 1: which are now increasing prices flat across the board for inputs,

1435
01:13:45,680 --> 01:13:48,759
Speaker 1: we are now seeing a sustained effect of prolonged inflation

1436
01:13:48,880 --> 01:13:51,759
Speaker 1: on the overall economy as a whole. As we commented

1437
01:13:51,800 --> 01:13:54,640
Speaker 1: on before, Walmart, which was even been touted as a

1438
01:13:54,720 --> 01:13:59,320
Speaker 1: so called recession proof business, reported a twenty five percent

1439
01:13:59,520 --> 01:14:02,960
Speaker 1: drop in a single quarter as a result of fuel

1440
01:14:03,040 --> 01:14:06,400
Speaker 1: cost labor costs, but hidden in the war Hidden was

1441
01:14:06,439 --> 01:14:10,280
Speaker 1: the most worrisome stat of all. Walmart said food demand

1442
01:14:10,439 --> 01:14:14,880
Speaker 1: had decreased because of increased cost Target suffered a similar

1443
01:14:14,960 --> 01:14:17,920
Speaker 1: drop in stock. Their CEO reported a fifty two percent

1444
01:14:18,080 --> 01:14:20,760
Speaker 1: drop in net income from the first quarter of twenty

1445
01:14:20,800 --> 01:14:23,280
Speaker 1: twenty two versus the first quarter of twenty twenty one.

1446
01:14:23,680 --> 01:14:26,479
Speaker 1: Target said they were plagued by supply chain problems and

1447
01:14:26,600 --> 01:14:28,240
Speaker 1: said they were going to have to spend an extra

1448
01:14:28,479 --> 01:14:32,080
Speaker 1: one billion a year on freight costs than expected. Worse,

1449
01:14:32,400 --> 01:14:35,640
Speaker 1: Target is now stuck holding the bag of items that

1450
01:14:35,880 --> 01:14:38,360
Speaker 1: just a few months ago were flying off the shelves

1451
01:14:38,640 --> 01:14:43,479
Speaker 1: home goods, patio furniture, TVs and Kishen appliances. Another retailer

1452
01:14:43,600 --> 01:14:47,160
Speaker 1: also reporting similar problems, the clothing company Gap, having their

1453
01:14:47,200 --> 01:14:51,160
Speaker 1: stock drop eighteen percent last week when its revenue dropped

1454
01:14:51,200 --> 01:14:53,479
Speaker 1: for the first time in the last three years, with

1455
01:14:53,640 --> 01:14:57,880
Speaker 1: the statistic that same store soiales were down fourteen percent

1456
01:14:58,120 --> 01:15:02,320
Speaker 1: year over year and online sales declining by twenty percent.

1457
01:15:02,800 --> 01:15:05,240
Speaker 1: The same is true of Abercrombie and Fitch and many

1458
01:15:05,320 --> 01:15:09,320
Speaker 1: other mall based retailers. In other words, contagion is beginning

1459
01:15:09,360 --> 01:15:11,760
Speaker 1: to move through the entire economy, and as I were

1460
01:15:11,800 --> 01:15:14,040
Speaker 1: in before. You may not have made money on the

1461
01:15:14,120 --> 01:15:16,479
Speaker 1: way up, but you sure as hell will lose money

1462
01:15:16,560 --> 01:15:19,240
Speaker 1: on the way down. When companies start to get pressure

1463
01:15:19,360 --> 01:15:21,680
Speaker 1: like this from Wall Street, there is only one way

1464
01:15:21,800 --> 01:15:25,360
Speaker 1: left to try and increase profit. Fire people, stop hiring people,

1465
01:15:25,600 --> 01:15:29,160
Speaker 1: stop expansion plans, cut costs wherever possible, go lean in

1466
01:15:29,200 --> 01:15:32,160
Speaker 1: the bad times. This will obviously have a direct impact

1467
01:15:32,280 --> 01:15:35,320
Speaker 1: on you for your ability to have labor mobility and

1468
01:15:35,439 --> 01:15:38,960
Speaker 1: to continue bargaining for a wage. Worse that comes at

1469
01:15:39,000 --> 01:15:43,400
Speaker 1: the exact same time that persistent inflation remains across the board,

1470
01:15:43,720 --> 01:15:46,600
Speaker 1: because structurally we have not dealt with any of the

1471
01:15:46,640 --> 01:15:49,760
Speaker 1: supply chain problems that actually plague us. In fact, as

1472
01:15:49,800 --> 01:15:51,840
Speaker 1: Heather Loong is pointing out here at the Washington Post,

1473
01:15:52,160 --> 01:15:54,560
Speaker 1: perhaps the only thing that we will go into the

1474
01:15:54,640 --> 01:15:57,240
Speaker 1: only way we will not go into recession, is if

1475
01:15:57,400 --> 01:16:02,559
Speaker 1: richer Americans don't drop their spending levels. Wealthier Americans today

1476
01:16:02,720 --> 01:16:05,960
Speaker 1: are the only ones still spending big, and because they

1477
01:16:06,000 --> 01:16:08,800
Speaker 1: have so much cash, those numbers can save the top

1478
01:16:08,840 --> 01:16:11,560
Speaker 1: line figure. But consider what that means for all of

1479
01:16:11,680 --> 01:16:14,240
Speaker 1: you who are well and truly hosed in this type

1480
01:16:14,280 --> 01:16:17,799
Speaker 1: of a market. You're beholden entirely to the spending whims

1481
01:16:18,040 --> 01:16:20,880
Speaker 1: of the richest people in America while you struggle to

1482
01:16:21,000 --> 01:16:23,720
Speaker 1: make the basic ends meet. As Heather points out, this

1483
01:16:23,880 --> 01:16:26,559
Speaker 1: was the exact problem with the economy post Great Recession.

1484
01:16:26,840 --> 01:16:30,160
Speaker 1: Obama and company would tout their economic recovery in terms

1485
01:16:30,160 --> 01:16:33,240
Speaker 1: of top figures, and sure, you know technically that there

1486
01:16:33,320 --> 01:16:36,200
Speaker 1: was some growth, but for most people it wasn't captured

1487
01:16:36,240 --> 01:16:39,479
Speaker 1: in the overall statistic. It was captured in the basic

1488
01:16:39,600 --> 01:16:42,680
Speaker 1: fact that their lives were worse and harder off than

1489
01:16:42,720 --> 01:16:45,080
Speaker 1: before two thousand and eight. We are now entering a

1490
01:16:45,160 --> 01:16:48,719
Speaker 1: similar period where Biden and his administration continue to tout

1491
01:16:48,800 --> 01:16:52,759
Speaker 1: a great economic recovery and a booming labor market as usual.

1492
01:16:53,040 --> 01:16:55,400
Speaker 1: I can only end on a somber note. I don't

1493
01:16:55,439 --> 01:16:57,920
Speaker 1: think I really think about so many people who watch

1494
01:16:58,000 --> 01:17:01,400
Speaker 1: this show and others, families and service workers who are

1495
01:17:01,520 --> 01:17:04,439
Speaker 1: really struggling, and honestly, it just does not seem like

1496
01:17:04,520 --> 01:17:07,560
Speaker 1: things are going to get better anytime soon. All of

1497
01:17:07,640 --> 01:17:09,920
Speaker 1: the systems at the top are pressuring the Fed to

1498
01:17:10,160 --> 01:17:13,519
Speaker 1: increase interest rates, companies are slowing down, and the only

1499
01:17:13,600 --> 01:17:16,080
Speaker 1: people who are continuing to spend and make money are

1500
01:17:16,120 --> 01:17:18,760
Speaker 1: the rich. It's the same dynamic in America over the

1501
01:17:18,840 --> 01:17:20,920
Speaker 1: last twenty five years. And I used to think this

1502
01:17:21,040 --> 01:17:23,600
Speaker 1: thing has got to break sometime, but who knows, it

1503
01:17:23,720 --> 01:17:25,800
Speaker 1: never actually seems to. So I hope that most of

1504
01:17:25,840 --> 01:17:27,759
Speaker 1: you guys hang in there, and I think it's a zumber.

1505
01:17:28,000 --> 01:17:30,880
Speaker 1: And if you want to hear my reaction to Sager's monologue,

1506
01:17:30,920 --> 01:17:36,759
Speaker 1: become a premium subscriber today at Breakingpoints dot com. Wrizil,

1507
01:17:36,840 --> 01:17:38,479
Speaker 1: what are you taking a look at? Well, guys, it's

1508
01:17:38,520 --> 01:17:42,160
Speaker 1: kind of become a meme President Biden passively watching his

1509
01:17:42,280 --> 01:17:45,799
Speaker 1: own presidency and wishing someone with power would do something.

1510
01:17:46,439 --> 01:17:49,639
Speaker 1: The latest example here with guns is particularly galling. Biden

1511
01:17:49,680 --> 01:17:51,960
Speaker 1: gave a speech about gun violence when he visited and

1512
01:17:52,120 --> 01:17:55,360
Speaker 1: visited Uvaldi. He tweeted on some encouraging words about turning

1513
01:17:55,439 --> 01:17:57,920
Speaker 1: pain into action, and then he kind of promptly checked

1514
01:17:57,960 --> 01:18:00,439
Speaker 1: out of the whole debate. The White House would not

1515
01:18:00,560 --> 01:18:03,200
Speaker 1: even put representatives on the Sunday shows to make a

1516
01:18:03,320 --> 01:18:06,840
Speaker 1: case for anything. In particular, Vice President Kamala Harris seemed

1517
01:18:06,840 --> 01:18:09,280
Speaker 1: to freelance calling for an assault weapons ban while speaking

1518
01:18:09,280 --> 01:18:10,800
Speaker 1: at a funeral for one of those slain by a

1519
01:18:10,880 --> 01:18:14,000
Speaker 1: racist killer in Buffalo. Congressional leaders, though they seem to

1520
01:18:14,040 --> 01:18:17,040
Speaker 1: be uninterested in following her guidance. The bill being contemplated

1521
01:18:17,040 --> 01:18:19,120
Speaker 1: in the House includes bands on bump stocks, lifting the

1522
01:18:19,160 --> 01:18:22,559
Speaker 1: purchase age, cracking down on star straw purchases, among other things,

1523
01:18:22,840 --> 01:18:25,320
Speaker 1: but it doesn't actually contemplate a return to that assault

1524
01:18:25,320 --> 01:18:29,040
Speaker 1: weapons ban. Biden himself uttered something about getting rid of

1525
01:18:29,280 --> 01:18:32,519
Speaker 1: high caliber handguns, sending the right wing into total freak

1526
01:18:32,560 --> 01:18:35,639
Speaker 1: ount mode, before then promptly leaving that debate and insisting

1527
01:18:35,680 --> 01:18:37,320
Speaker 1: it was not up to him to get involved in

1528
01:18:37,479 --> 01:18:41,280
Speaker 1: any negotiations about guns whatsoever. Among other comments, he said,

1529
01:18:41,360 --> 01:18:43,560
Speaker 1: quote I can't dictate this stuff. I can do the

1530
01:18:43,640 --> 01:18:45,880
Speaker 1: things I've done in any executive action I can take,

1531
01:18:45,960 --> 01:18:48,360
Speaker 1: I'll continue to take. But I can't outlaw a weapon.

1532
01:18:48,439 --> 01:18:50,400
Speaker 1: I can't change a background check. I can't do that.

1533
01:18:50,720 --> 01:18:53,040
Speaker 1: He then went on to admit he was not involved

1534
01:18:53,120 --> 01:18:55,760
Speaker 1: at all in negotiations, had not talked to a single

1535
01:18:55,800 --> 01:18:58,639
Speaker 1: Republican about any of it, but that he had blind

1536
01:18:58,760 --> 01:19:01,639
Speaker 1: faith that Mitch McConnell will act in good faith because

1537
01:19:01,640 --> 01:19:05,800
Speaker 1: he was a quote rational Republican. Imagine being President of

1538
01:19:05,840 --> 01:19:07,960
Speaker 1: the United States and acting like you have no power

1539
01:19:08,120 --> 01:19:10,519
Speaker 1: to do anything but send a tweet and hope that

1540
01:19:10,600 --> 01:19:13,200
Speaker 1: things work out. This is far from the first time.

1541
01:19:13,280 --> 01:19:15,720
Speaker 1: Through the entirety of the Build Back Better debacle, we

1542
01:19:15,840 --> 01:19:18,320
Speaker 1: never once learned what the president's actual priorities were or

1543
01:19:18,360 --> 01:19:20,920
Speaker 1: what he might fight for. Instead, he allowed Mansion to

1544
01:19:21,000 --> 01:19:23,639
Speaker 1: toy with the country for months before shooting that entire project.

1545
01:19:23,680 --> 01:19:26,200
Speaker 1: In the head on union rights, Biden proclaimed he'd be

1546
01:19:26,240 --> 01:19:28,799
Speaker 1: the most pro union president in history, but has instead

1547
01:19:28,920 --> 01:19:32,280
Speaker 1: mostly sat on the sidelines. The one time he dipped

1548
01:19:32,280 --> 01:19:35,439
Speaker 1: his toe in the water of direct encouragement of Amazon workers,

1549
01:19:35,720 --> 01:19:38,439
Speaker 1: his press secretary immediately jumped in to make it clear

1550
01:19:38,520 --> 01:19:40,719
Speaker 1: that Biden was not actually on the side of workers.

1551
01:19:41,000 --> 01:19:43,240
Speaker 1: What he was not doing is sending a message that

1552
01:19:43,479 --> 01:19:46,519
Speaker 1: he or the US government would be directly involved in

1553
01:19:46,600 --> 01:19:49,720
Speaker 1: any of these efforts or take any direct action. What

1554
01:19:49,920 --> 01:19:54,439
Speaker 1: he was conveying is that it is his longtime support

1555
01:19:54,520 --> 01:19:57,320
Speaker 1: for collective bargaining, for the rights of worker at workers

1556
01:19:57,400 --> 01:20:00,160
Speaker 1: to organize and their decision to do exactly that in

1557
01:20:00,280 --> 01:20:04,240
Speaker 1: this case, something that he has long supported broadly over

1558
01:20:04,320 --> 01:20:07,880
Speaker 1: the course of his career. It's a passive mode of

1559
01:20:08,080 --> 01:20:11,520
Speaker 1: anti politics that I frankly associate more with the professorial

1560
01:20:11,600 --> 01:20:16,040
Speaker 1: Obama watching from above, analyzing like a pundit, never willing

1561
01:20:16,080 --> 01:20:17,559
Speaker 1: to actually get in the mud to try to get

1562
01:20:17,600 --> 01:20:20,800
Speaker 1: things done, to turn hope into an actual course of action.

1563
01:20:21,320 --> 01:20:23,679
Speaker 1: There's a new report out though that Biden is completely

1564
01:20:23,800 --> 01:20:27,240
Speaker 1: mystified by his low poll numbers. He's now lower than Trump,

1565
01:20:27,320 --> 01:20:29,519
Speaker 1: and he's really twisted about it, according to one person

1566
01:20:29,560 --> 01:20:31,960
Speaker 1: close to the White House. That same report claims that

1567
01:20:32,000 --> 01:20:34,200
Speaker 1: Biden was shocked to find he had dropped with one

1568
01:20:34,240 --> 01:20:37,759
Speaker 1: of his support bases, suburban women. The White House absurdly

1569
01:20:37,960 --> 01:20:39,680
Speaker 1: has seemed to take these poor poll numbers as a

1570
01:20:39,720 --> 01:20:42,080
Speaker 1: sign that Biden did too much, too fast. As David

1571
01:20:42,120 --> 01:20:45,080
Speaker 1: Sorota points out, this is pretty ridiculous. Of the voters

1572
01:20:45,120 --> 01:20:47,479
Speaker 1: that disapprove of Biden, two thirds say he could do

1573
01:20:47,600 --> 01:20:51,120
Speaker 1: more if he actually wanted to. What's more, his largest

1574
01:20:51,160 --> 01:20:53,960
Speaker 1: drop off has been among young voters. The cohort that

1575
01:20:54,080 --> 01:20:56,080
Speaker 1: back Burnie, of course by the largest margins, and is

1576
01:20:56,120 --> 01:20:58,800
Speaker 1: the most progressive and the most interested in large scale change.

1577
01:20:59,320 --> 01:21:03,320
Speaker 1: Biden spent his entire life chasing the brass ring of

1578
01:21:03,400 --> 01:21:05,600
Speaker 1: the presidency, and now that he has won it, he

1579
01:21:05,720 --> 01:21:08,400
Speaker 1: seems to have no interest in actually using it and

1580
01:21:08,600 --> 01:21:11,360
Speaker 1: is mystified that anyone would want him to Now, it

1581
01:21:11,400 --> 01:21:13,920
Speaker 1: would be tempting to blame this devastating failure to act

1582
01:21:14,000 --> 01:21:18,520
Speaker 1: when multiple intersecting crises demand it on the personal characteristics

1583
01:21:18,560 --> 01:21:21,799
Speaker 1: of Biden himself, on say, his commitment to a bygone

1584
01:21:21,840 --> 01:21:25,720
Speaker 1: era of bipartisanship, on his senior moments, on his committed centrism.

1585
01:21:26,160 --> 01:21:28,679
Speaker 1: But the truth is actually a lot darker. The current

1586
01:21:28,760 --> 01:21:33,360
Speaker 1: Democratic Party is centered on a bedrock opposition to actually governing.

1587
01:21:34,000 --> 01:21:36,479
Speaker 1: Governing means that you have a specific vision and you

1588
01:21:36,600 --> 01:21:38,759
Speaker 1: fight to implement it. It means you have a worldview

1589
01:21:38,800 --> 01:21:41,000
Speaker 1: and ideology that you believe in, and you use every

1590
01:21:41,040 --> 01:21:43,599
Speaker 1: tool at your disposal to actually execute on it. Now,

1591
01:21:43,640 --> 01:21:46,840
Speaker 1: Republican elites, in my opinion, have a horrendous worldview, but

1592
01:21:46,960 --> 01:21:49,080
Speaker 1: they are not afraid to govern. They will shove their

1593
01:21:49,120 --> 01:21:51,320
Speaker 1: preferred curriculum down your kid's throats. They will give the

1594
01:21:51,439 --> 01:21:53,760
Speaker 1: rich their promised tax cut, no matter the obstacle. They

1595
01:21:53,760 --> 01:21:57,160
Speaker 1: will spend forty years relentlessly venting Supreme Court justices and

1596
01:21:57,240 --> 01:22:00,479
Speaker 1: federal judges for compliance with their ideology. And they will

1597
01:22:00,560 --> 01:22:03,400
Speaker 1: use every trick and violate every norm to get as

1598
01:22:03,439 --> 01:22:06,599
Speaker 1: many of those vetted ideologues into positions of power. While

1599
01:22:06,640 --> 01:22:09,160
Speaker 1: Democrats run around promising that they don't really want to

1600
01:22:09,240 --> 01:22:12,000
Speaker 1: change anything at all, and worst of all, they actually

1601
01:22:12,120 --> 01:22:15,120
Speaker 1: mean it. This posture goes back at least to Bill Clinton.

1602
01:22:15,240 --> 01:22:17,320
Speaker 1: Bill Clinton did a lot of things when he was president,

1603
01:22:17,520 --> 01:22:19,559
Speaker 1: many of them bad, but it would be a mistake

1604
01:22:19,600 --> 01:22:21,800
Speaker 1: to view as presidency through anything other than the lens

1605
01:22:21,920 --> 01:22:24,760
Speaker 1: of getting Bill Clinton re elected. He ran as a

1606
01:22:24,840 --> 01:22:27,320
Speaker 1: populist initially, then he quickly slid into being a sort

1607
01:22:27,320 --> 01:22:31,439
Speaker 1: of standard Koch Brothers Republican, passing NAFTA, tax cuts, deregulating banks,

1608
01:22:31,560 --> 01:22:35,120
Speaker 1: ending welfare, obsessing over the budget deficit, and he persuaded

1609
01:22:35,200 --> 01:22:38,599
Speaker 1: everyone else in the Democratic Party that abandoning every principle

1610
01:22:38,640 --> 01:22:40,560
Speaker 1: in the service of getting elected was a thing that

1611
01:22:40,760 --> 01:22:43,680
Speaker 1: serious people did. This approach to politics came at a

1612
01:22:43,720 --> 01:22:45,920
Speaker 1: time when the corporate purse strings were opened wide by

1613
01:22:45,920 --> 01:22:48,920
Speaker 1: a series of Supreme Court decisions. So in the Clinton formulation,

1614
01:22:49,400 --> 01:22:51,760
Speaker 1: you could cash in on that corporate bonanza, and you

1615
01:22:51,800 --> 01:22:54,240
Speaker 1: could delude yourself into thinking that you were somehow still

1616
01:22:54,320 --> 01:22:57,160
Speaker 1: doing right by the people. This directly led to a

1617
01:22:57,240 --> 01:22:59,800
Speaker 1: type of anti politics. Rather than pushing for anything, you

1618
01:23:00,160 --> 01:23:02,879
Speaker 1: try to position yourself wherever you imagine the average suburban

1619
01:23:02,960 --> 01:23:05,960
Speaker 1: voter is located and that suffers from any number of problems.

1620
01:23:06,120 --> 01:23:08,360
Speaker 1: It takes for granted that attitudes are agaven and can't

1621
01:23:08,360 --> 01:23:11,320
Speaker 1: and shouldn't be moved, especially by prominent politicians and by

1622
01:23:11,400 --> 01:23:14,240
Speaker 1: media coverage. It leads to the foolish and racist assumptions

1623
01:23:14,320 --> 01:23:18,160
Speaker 1: undergirding the demographics's destiny analysis. The idea that young voters

1624
01:23:18,160 --> 01:23:21,000
Speaker 1: and voters of color will just naturally vote Democratic meant

1625
01:23:21,040 --> 01:23:23,880
Speaker 1: that Democratic elites didn't have to do anything. They could

1626
01:23:23,960 --> 01:23:25,800
Speaker 1: just keep taking that corporate cash and wait for the

1627
01:23:25,920 --> 01:23:28,760
Speaker 1: rising demographic tide to lift their sold out votes. It

1628
01:23:28,880 --> 01:23:32,040
Speaker 1: leads to politicians who are terrified of every existing and

1629
01:23:32,120 --> 01:23:35,600
Speaker 1: potential Republican talking point. Just see Joe Biden afraid of

1630
01:23:35,680 --> 01:23:39,160
Speaker 1: even calling for an investigation into the morally atrocious lack

1631
01:23:39,200 --> 01:23:41,600
Speaker 1: of response by police and Ubaldi because he was so

1632
01:23:41,800 --> 01:23:44,400
Speaker 1: afraid that Fox News might accuse him of hating cops.

1633
01:23:44,880 --> 01:23:47,799
Speaker 1: And most of all, it leads to facing down multiple

1634
01:23:48,080 --> 01:23:50,160
Speaker 1: devastating threats of the nation in the world with a

1635
01:23:50,240 --> 01:23:52,640
Speaker 1: return of the trump maniacs there on the horizon, and

1636
01:23:52,720 --> 01:23:55,960
Speaker 1: twiddling your thumbs because of the filibuster or the parliamentarian

1637
01:23:56,160 --> 01:23:58,519
Speaker 1: or your unwillingness to face the court challenge to an

1638
01:23:58,560 --> 01:24:02,439
Speaker 1: executive order, leads to having control of the House, the Senate,

1639
01:24:02,640 --> 01:24:06,240
Speaker 1: and the White House and still bemoaning your complete impotence,

1640
01:24:06,439 --> 01:24:09,439
Speaker 1: and yes, mister President, it leads to some pretty dismal

1641
01:24:09,560 --> 01:24:12,439
Speaker 1: poll numbers as well. I mean, you just can't look

1642
01:24:12,439 --> 01:24:14,160
Speaker 1: at the entirety. And if you want to hear my

1643
01:24:14,360 --> 01:24:17,680
Speaker 1: reaction to Crystal's monologue, become a premium subscriber today at

1644
01:24:17,760 --> 01:24:24,639
Speaker 1: Breakingpoints dot com. Very interesting trends in the electric vehicle market.

1645
01:24:24,840 --> 01:24:27,599
Speaker 1: So we're decided to be joined by an expert, Kristin

1646
01:24:27,640 --> 01:24:30,519
Speaker 1: eberhartch She's the director of climate policy at the Niscannon Center.

1647
01:24:30,760 --> 01:24:32,760
Speaker 1: Christ thank you very much for joining the show. We

1648
01:24:32,840 --> 01:24:36,680
Speaker 1: really appreciate it. Thank you for having me absolutely so.

1649
01:24:36,800 --> 01:24:38,880
Speaker 1: We noticed this thread that you put out there. Let's

1650
01:24:38,920 --> 01:24:41,320
Speaker 1: put this up there on the screen, and it's about

1651
01:24:41,400 --> 01:24:45,519
Speaker 1: a new report from a new report which shows that

1652
01:24:45,640 --> 01:24:48,800
Speaker 1: EVE popularity is exploding and how in just the last

1653
01:24:48,880 --> 01:24:51,799
Speaker 1: three years the number of evs on the world's roads

1654
01:24:51,840 --> 01:24:55,400
Speaker 1: has tripled. Now, I think the major question from Chrystal

1655
01:24:55,400 --> 01:24:57,960
Speaker 1: and I is that what does this mean both in

1656
01:24:58,040 --> 01:25:01,160
Speaker 1: terms of consumer demand, because obviously most of these prices

1657
01:25:01,240 --> 01:25:04,520
Speaker 1: are most of these vehicles are for upper middle class individuals.

1658
01:25:04,800 --> 01:25:08,439
Speaker 1: Are they becoming more accessible to the broader consumer market?

1659
01:25:08,600 --> 01:25:11,200
Speaker 1: And then what are the infrastructure holes that we have

1660
01:25:11,680 --> 01:25:13,840
Speaker 1: that are making it so that more people cannot have

1661
01:25:14,120 --> 01:25:18,840
Speaker 1: and adopt an EV Yeah, I think an interesting thing

1662
01:25:18,920 --> 01:25:21,719
Speaker 1: here is the difference between the United States and China.

1663
01:25:22,160 --> 01:25:24,960
Speaker 1: So China actually has done a lot more to make

1664
01:25:25,040 --> 01:25:29,000
Speaker 1: evs accessible more broadly, and so you're seeing bigger, even

1665
01:25:29,000 --> 01:25:32,320
Speaker 1: bigger growth and bigger uptake there. The United States, on

1666
01:25:32,360 --> 01:25:35,479
Speaker 1: the other hand, we have some subsidies which have helped evs,

1667
01:25:35,760 --> 01:25:39,240
Speaker 1: but we're mostly getting them into the hands of kind

1668
01:25:39,240 --> 01:25:43,559
Speaker 1: of upper middle class urban dwellers. And really we need

1669
01:25:43,640 --> 01:25:45,200
Speaker 1: to be getting them into the hands of the people

1670
01:25:45,240 --> 01:25:46,840
Speaker 1: who are who need them the most, the people who

1671
01:25:46,840 --> 01:25:49,360
Speaker 1: are driving the most, who are most dependent on gas

1672
01:25:50,040 --> 01:25:52,800
Speaker 1: and would get the most benefit. And so at some

1673
01:25:52,880 --> 01:25:56,559
Speaker 1: tweaks to our to our policy could really could really

1674
01:25:56,640 --> 01:26:00,240
Speaker 1: accelerate this transition. Interesting and then as you brought up oh,

1675
01:26:00,320 --> 01:26:02,560
Speaker 1: I was just gonna say, charging is of course the

1676
01:26:02,720 --> 01:26:05,320
Speaker 1: other you know, big bugaboo. People you know, want to

1677
01:26:05,320 --> 01:26:07,360
Speaker 1: make sure that they feel very confident that they're going

1678
01:26:07,400 --> 01:26:08,960
Speaker 1: to be able to get where they want to go

1679
01:26:09,080 --> 01:26:11,639
Speaker 1: and not run out of gas and uh run out

1680
01:26:11,640 --> 01:26:17,080
Speaker 1: of juice. And we do have the Bipartisan Infrastructure Build

1681
01:26:17,160 --> 01:26:19,840
Speaker 1: puts seven point five billion dollars into charging stations. They

1682
01:26:19,880 --> 01:26:21,880
Speaker 1: gave it to states, and now there is some question

1683
01:26:21,960 --> 01:26:24,960
Speaker 1: about how quickly and effectively states are going to roll

1684
01:26:25,000 --> 01:26:27,960
Speaker 1: out that money and get that infrastructure built. So most

1685
01:26:28,040 --> 01:26:31,639
Speaker 1: climate news is very dismal. This actually seems really helpful

1686
01:26:31,680 --> 01:26:33,719
Speaker 1: what you're pointing to here. In just three years, number

1687
01:26:33,720 --> 01:26:37,160
Speaker 1: of evs on the world's roads tripled. How much does

1688
01:26:37,280 --> 01:26:43,400
Speaker 1: that matter in terms of climate? So eves are one

1689
01:26:43,479 --> 01:26:45,640
Speaker 1: of our Well, so I think there's two things, right,

1690
01:26:45,920 --> 01:26:50,080
Speaker 1: there's climate and then there's our dependence on on fossil fuels,

1691
01:26:50,320 --> 01:26:54,080
Speaker 1: which are very interrelated and in terms of our tempendens

1692
01:26:54,080 --> 01:26:56,759
Speaker 1: on fossil fuels, EV's are one of our the biggest

1693
01:26:57,120 --> 01:27:00,720
Speaker 1: tools in our toolbox for reducing our dependence on this

1694
01:27:01,080 --> 01:27:05,200
Speaker 1: very volatile global commodity. And the faster that we can

1695
01:27:05,439 --> 01:27:08,280
Speaker 1: get not just our cars but also trucks and buses

1696
01:27:08,720 --> 01:27:14,080
Speaker 1: turned electric, the faster that we can, you know, reduce

1697
01:27:14,120 --> 01:27:16,760
Speaker 1: our dependence on everything that we're seeing happening right now

1698
01:27:16,880 --> 01:27:20,400
Speaker 1: in Russia and Europe, in terms of climate change, transportation

1699
01:27:20,600 --> 01:27:24,120
Speaker 1: in the United States is about is the biggest sector

1700
01:27:24,400 --> 01:27:26,639
Speaker 1: and our biggest source of emissions, So it's a huge

1701
01:27:26,720 --> 01:27:28,840
Speaker 1: deal in the United States to be able to get

1702
01:27:28,880 --> 01:27:32,719
Speaker 1: off that. Globally, it's a little less but still still

1703
01:27:32,800 --> 01:27:36,200
Speaker 1: a very important chunk of the climate pie. So my

1704
01:27:36,320 --> 01:27:39,120
Speaker 1: question Christen is I've heard this critique before. It's just

1705
01:27:39,200 --> 01:27:41,639
Speaker 1: simply not possible to get most people on the road

1706
01:27:41,960 --> 01:27:45,000
Speaker 1: driving electric vehicles. We don't have the components, we don't

1707
01:27:45,040 --> 01:27:47,800
Speaker 1: have the supply chain. What a is kind of the

1708
01:27:48,400 --> 01:27:51,320
Speaker 1: what does the state of the current supply chain mean

1709
01:27:51,560 --> 01:27:54,000
Speaker 1: for the ability Let's say, you know, we have sky

1710
01:27:54,080 --> 01:27:56,240
Speaker 1: high demand right now for evs, but what does that

1711
01:27:56,320 --> 01:27:58,599
Speaker 1: say for the ability of US auto makers, both from

1712
01:27:58,600 --> 01:28:01,120
Speaker 1: a Tesla to a Ford Chrysler GM and others to

1713
01:28:01,200 --> 01:28:03,639
Speaker 1: be able to put evs on the road to meet

1714
01:28:03,680 --> 01:28:08,000
Speaker 1: the demand that people have. Yeah, there's definitely the supply

1715
01:28:08,160 --> 01:28:12,160
Speaker 1: chain for batteries right now is very China dependent. About

1716
01:28:12,200 --> 01:28:15,840
Speaker 1: seventy percent of batteries are coming out of China, So

1717
01:28:15,960 --> 01:28:18,680
Speaker 1: that is definitely a piece that is I think on

1718
01:28:18,880 --> 01:28:23,840
Speaker 1: the radar for automakers, battery manufacturers, and US lawmakers to

1719
01:28:23,960 --> 01:28:28,400
Speaker 1: figure out how we can transfer some of that capacity

1720
01:28:28,880 --> 01:28:32,280
Speaker 1: and supply chain security to the United States to make

1721
01:28:32,320 --> 01:28:35,800
Speaker 1: sure that we're not locking ourselves into dependence on China,

1722
01:28:37,080 --> 01:28:40,880
Speaker 1: to make sure that we can ramp this up. Another

1723
01:28:40,960 --> 01:28:43,360
Speaker 1: thing you point to here is that it's not just

1724
01:28:44,000 --> 01:28:47,280
Speaker 1: personal vehicles that China is outperforming us in terms of

1725
01:28:47,320 --> 01:28:50,400
Speaker 1: the transition to evs, but they're also dominating getting electric

1726
01:28:50,520 --> 01:28:53,280
Speaker 1: buses and trucks on the road. What else are they

1727
01:28:53,479 --> 01:28:57,400
Speaker 1: doing that we should look to emulate. Yeah, so China

1728
01:28:57,439 --> 01:29:01,200
Speaker 1: has been putting a big push into bucks, trucks and buses,

1729
01:29:01,760 --> 01:29:05,080
Speaker 1: and in the United States we do have so the again,

1730
01:29:05,120 --> 01:29:08,720
Speaker 1: the Bipartisan Infrastructure Bill did put a big piece of

1731
01:29:08,800 --> 01:29:12,320
Speaker 1: money into electric buses, and again that money is going

1732
01:29:12,360 --> 01:29:14,559
Speaker 1: out to states, and states are implementing in different ways

1733
01:29:14,640 --> 01:29:19,760
Speaker 1: to get more, particularly school buses electrified, which has a

1734
01:29:19,840 --> 01:29:25,000
Speaker 1: big impact both on just increasing the productive capacity and

1735
01:29:25,040 --> 01:29:26,760
Speaker 1: supply chain in the United States and then also on

1736
01:29:27,680 --> 01:29:30,840
Speaker 1: improving air pollution in our communities where children, you know,

1737
01:29:30,880 --> 01:29:33,240
Speaker 1: are getting on these buses that you know, my son

1738
01:29:33,320 --> 01:29:35,439
Speaker 1: gets on a bus every day that smells like diesel.

1739
01:29:36,080 --> 01:29:38,280
Speaker 1: And so the more that we can make those electric,

1740
01:29:39,000 --> 01:29:41,920
Speaker 1: the better our health of our children. In our communities,

1741
01:29:42,200 --> 01:29:44,920
Speaker 1: and right now China is out ahead of us. The

1742
01:29:45,000 --> 01:29:49,280
Speaker 1: Bipartisan Infrastructure Bill helps with that, and there's still more

1743
01:29:49,320 --> 01:29:53,599
Speaker 1: to be done to really to really spur that transition. Yeah,

1744
01:29:53,640 --> 01:29:55,439
Speaker 1: it really just sounds to me like they've just made

1745
01:29:55,439 --> 01:29:58,559
Speaker 1: a much bigger bet and infrastructure investment in it than

1746
01:29:58,680 --> 01:30:00,280
Speaker 1: we have. So, I mean, if you were to point

1747
01:30:00,320 --> 01:30:03,160
Speaker 1: to maybe a single area where EV, not even EV,

1748
01:30:03,320 --> 01:30:06,240
Speaker 1: but electric adoption would be able to increase that hasn't

1749
01:30:06,280 --> 01:30:08,000
Speaker 1: been done already by the government, what do you think

1750
01:30:08,000 --> 01:30:13,080
Speaker 1: it would be? So just taking the existing SHIFT subsidies

1751
01:30:13,120 --> 01:30:16,160
Speaker 1: we have and shifting them. So, as I mentioned, right now,

1752
01:30:16,200 --> 01:30:18,680
Speaker 1: those subsets are mostly going to the people who already

1753
01:30:18,760 --> 01:30:21,120
Speaker 1: are interested in buying EV's, which in the United States

1754
01:30:21,240 --> 01:30:24,040
Speaker 1: is about a third of buyers say that they want

1755
01:30:24,080 --> 01:30:25,960
Speaker 1: their next car to be an EV as opposed to

1756
01:30:26,120 --> 01:30:30,400
Speaker 1: in China it's more like two thirds. And so right

1757
01:30:30,520 --> 01:30:33,000
Speaker 1: part of that is because we're only giving those subsities

1758
01:30:33,040 --> 01:30:34,880
Speaker 1: the people who kind of already want it, and then

1759
01:30:34,960 --> 01:30:36,840
Speaker 1: those people all talk to each other and tell each

1760
01:30:36,840 --> 01:30:38,640
Speaker 1: other how great their EV is, and then all of

1761
01:30:38,760 --> 01:30:40,600
Speaker 1: you know, your friend, my friends and neighbors want to

1762
01:30:40,600 --> 01:30:44,320
Speaker 1: get one. But if we shifted those subsidies to instead

1763
01:30:44,320 --> 01:30:47,000
Speaker 1: of being based on a vehicle sale, to be based

1764
01:30:47,040 --> 01:30:50,559
Speaker 1: on the gasoline use displaced. Then we would get greater

1765
01:30:50,680 --> 01:30:54,120
Speaker 1: penetration into other neighborhoods, other types of Americans, and then

1766
01:30:54,120 --> 01:30:56,360
Speaker 1: they would start telling their friends how great evs are,

1767
01:30:56,439 --> 01:31:00,360
Speaker 1: and we would have an increased demand. Very interesting, Yeah,

1768
01:31:00,520 --> 01:31:03,120
Speaker 1: really interesting, And like I said, so much of climate

1769
01:31:03,160 --> 01:31:05,920
Speaker 1: news is really just depressing. It's nice to see one

1770
01:31:06,000 --> 01:31:08,360
Speaker 1: trend going in the right direction and some positive forward

1771
01:31:08,400 --> 01:31:11,200
Speaker 1: thinking ideas about how we can continue to nudget forward.

1772
01:31:11,280 --> 01:31:13,120
Speaker 1: So thank you so much for joining us. Really grateful

1773
01:31:13,160 --> 01:31:17,120
Speaker 1: for your insight. Thanks Cherson, appreciate it. Thank you very much, absolutely,

1774
01:31:18,680 --> 01:31:20,240
Speaker 1: and thank you guys so much for watching. We really

1775
01:31:20,280 --> 01:31:23,800
Speaker 1: appreciate it. One year anniversary was yesterday. It feels like, yeah,

1776
01:31:23,920 --> 01:31:26,400
Speaker 1: it truly does feel like both I think we said

1777
01:31:26,439 --> 01:31:28,640
Speaker 1: this both a lifetime ago and also like it was

1778
01:31:28,760 --> 01:31:30,599
Speaker 1: you know, last week, thinking back to like being at

1779
01:31:30,600 --> 01:31:33,880
Speaker 1: the Hill, that just feels like, yeah, that really feels

1780
01:31:33,960 --> 01:31:38,080
Speaker 1: like another life, doesn't it much worse life? No disrespect,

1781
01:31:38,160 --> 01:31:40,360
Speaker 1: there's fun there, no disrespect. We had a lot of fun,

1782
01:31:40,800 --> 01:31:42,160
Speaker 1: but this is a hell of a lot more what

1783
01:31:42,240 --> 01:31:44,120
Speaker 1: we were able to build there. But yeah, there's nothing

1784
01:31:44,240 --> 01:31:47,280
Speaker 1: like being able to you know, deliver exactly the product

1785
01:31:47,439 --> 01:31:49,559
Speaker 1: as we want it to you guys, in the way

1786
01:31:49,600 --> 01:31:52,720
Speaker 1: that we want it. So thank you guys for being

1787
01:31:53,040 --> 01:31:57,840
Speaker 1: part of Year one, especially to our premium subscribers, especially

1788
01:31:57,960 --> 01:31:59,960
Speaker 1: to the lifetime members who helped us get off the ground,

1789
01:32:00,360 --> 01:32:03,120
Speaker 1: but to everybody who has you know, watched and enjoyed

1790
01:32:03,160 --> 01:32:06,040
Speaker 1: our content throughout the year. We really can't tell you how.

1791
01:32:06,280 --> 01:32:09,600
Speaker 1: I'm just tremendously grateful we are to have the opportunity

1792
01:32:09,680 --> 01:32:12,360
Speaker 1: to do this, to have the opportunity to continue thinking

1793
01:32:12,400 --> 01:32:15,120
Speaker 1: forward about how we can improve the product and deliver

1794
01:32:15,280 --> 01:32:18,760
Speaker 1: for you all and even more complete version of the

1795
01:32:18,840 --> 01:32:21,040
Speaker 1: Breaking Points community. You guys are amazing. And I want

1796
01:32:21,040 --> 01:32:22,960
Speaker 1: to give a special shout out to Scarlet Murray. I

1797
01:32:23,040 --> 01:32:25,880
Speaker 1: discovered yesterday she was our very first premium subscriber. Oh,

1798
01:32:25,960 --> 01:32:29,200
Speaker 1: Scarlet somehow was able to sign up an hour before

1799
01:32:29,439 --> 01:32:32,160
Speaker 1: anybody else. I literally don't know how that happened. Shout

1800
01:32:32,200 --> 01:32:34,960
Speaker 1: out to you, Scarlett, Yeah, I like, I don't know

1801
01:32:35,040 --> 01:32:37,479
Speaker 1: how you did it well, because we had the exist

1802
01:32:37,880 --> 01:32:41,360
Speaker 1: redirect link yet, we had a link existing, but we

1803
01:32:41,479 --> 01:32:43,439
Speaker 1: hadn't published it, so she somehow was. I don't know

1804
01:32:43,479 --> 01:32:45,320
Speaker 1: how she got there, but she made it happen. She

1805
01:32:45,400 --> 01:32:49,240
Speaker 1: did literally an hour before any other person. So shout

1806
01:32:49,240 --> 01:32:50,960
Speaker 1: out to you, Scarlet. Shout out, like we said, the

1807
01:32:51,040 --> 01:32:53,280
Speaker 1: lifetime members who helped get this set off the ground.

1808
01:32:53,280 --> 01:32:54,560
Speaker 1: If you guys haven't checked it out, you know, we

1809
01:32:54,640 --> 01:32:58,200
Speaker 1: sent all our premium subs a long video about what

1810
01:32:58,400 --> 01:33:00,640
Speaker 1: we have done and invested in, what we want to

1811
01:33:00,680 --> 01:33:02,680
Speaker 1: continue to invest in. So if you guys can help

1812
01:33:02,760 --> 01:33:04,600
Speaker 1: us out, we really appreciate it. Big news coming on

1813
01:33:04,680 --> 01:33:07,360
Speaker 1: the live tour, the actual official first dates and more

1814
01:33:07,400 --> 01:33:08,840
Speaker 1: we're going to be announcing, and tickets are going to

1815
01:33:08,880 --> 01:33:11,559
Speaker 1: be going on sale very quickly, first to our premium

1816
01:33:11,560 --> 01:33:14,040
Speaker 1: subscribers and then of course to everybody else if there

1817
01:33:14,400 --> 01:33:16,120
Speaker 1: are even any left. So if you want to check

1818
01:33:16,160 --> 01:33:18,080
Speaker 1: that out or possibly be part of it, make sure

1819
01:33:18,080 --> 01:33:19,920
Speaker 1: you go ahead and sign up today and we'll see

1820
01:33:19,960 --> 01:33:22,080
Speaker 1: you all next week. We've got great partner content for

1821
01:33:22,200 --> 01:33:24,439
Speaker 1: you all over the weekend. Yep enjoy the weekend, y'all,

1822
01:33:24,520 --> 01:33:25,200
Speaker 1: See you next week.