1 00:00:00,280 --> 00:00:02,920 Speaker 1: Brought to you by the reinvented two thousand twelve Camray. 2 00:00:03,160 --> 00:00:07,560 Speaker 1: It's ready. Are you welcome to Stuff you should know 3 00:00:08,200 --> 00:00:16,279 Speaker 1: from house Stuff Works dot Com. Hey, and welcome to 4 00:00:16,280 --> 00:00:20,640 Speaker 1: the podcast. I'm Josh Clark. Wake up, Chuck Bryant, what's up, Buttercup? 5 00:00:20,760 --> 00:00:23,000 Speaker 1: Chuck's payton. He's ready to get out of here. So 6 00:00:23,200 --> 00:00:26,599 Speaker 1: we're gonna don't watch these rainy days. You know, rainy 7 00:00:26,680 --> 00:00:30,120 Speaker 1: days on Monday. They always get you down. Karen Carpenter, 8 00:00:30,400 --> 00:00:33,800 Speaker 1: what a waste? Yea said, Yeah, so this is not 9 00:00:33,840 --> 00:00:37,519 Speaker 1: on anorex yet. No, it's not. Actually it's on money laundering, 10 00:00:37,520 --> 00:00:41,720 Speaker 1: which we can't or you can or can't say, I 11 00:00:41,760 --> 00:00:43,720 Speaker 1: think is one way to put it. Whether or not 12 00:00:43,840 --> 00:00:46,480 Speaker 1: Karen Carpenter ever engaged in that, God Rest her soul. 13 00:00:47,080 --> 00:00:49,320 Speaker 1: I believe that she did not do. You never know, Chuck. 14 00:00:49,360 --> 00:00:51,560 Speaker 1: I'll go on record, Chuck, you ever see scar Face? 15 00:00:52,320 --> 00:00:54,880 Speaker 1: Are you kidding me? So you have seen it? Oh? Yeah, 16 00:00:54,920 --> 00:00:58,720 Speaker 1: many times? Edward g Robinson, James Cagney, Oh and I 17 00:00:58,760 --> 00:01:01,480 Speaker 1: thought you're talking to us. I just don't like it 18 00:01:01,520 --> 00:01:05,200 Speaker 1: when you gloat. Um. So you know that one scene 19 00:01:05,240 --> 00:01:07,440 Speaker 1: when he's sitting there laundering the money with the guy 20 00:01:07,440 --> 00:01:10,200 Speaker 1: who turns out to be the cop, and for some 21 00:01:10,240 --> 00:01:13,160 Speaker 1: reason to Palma made it so like, uh, it actually 22 00:01:13,680 --> 00:01:17,480 Speaker 1: simulates the eight hours that they're supposedly sitting there doing it. 23 00:01:18,080 --> 00:01:20,640 Speaker 1: That was actually pretty good lesson in what not to 24 00:01:20,680 --> 00:01:23,800 Speaker 1: do when you launder money, and I think the moral 25 00:01:23,880 --> 00:01:27,000 Speaker 1: to it was never louander money with an undercover police officer. 26 00:01:27,640 --> 00:01:30,120 Speaker 1: My favorite part of that movie is when he buries 27 00:01:30,120 --> 00:01:32,160 Speaker 1: his face in the huge mountain of cocaine on his 28 00:01:32,240 --> 00:01:34,200 Speaker 1: desk at the end. That is a good part. And 29 00:01:34,480 --> 00:01:37,080 Speaker 1: thousands of bullets, hundreds of bullets could not even take 30 00:01:37,160 --> 00:01:40,280 Speaker 1: him down at that point, but they did eventually. No, no, 31 00:01:41,319 --> 00:01:43,200 Speaker 1: yeah they did. Yeah. No. I couldn't remember if he 32 00:01:43,240 --> 00:01:45,679 Speaker 1: died in an explosion, but there because there are grenades 33 00:01:45,720 --> 00:01:50,559 Speaker 1: in that scene. That is a good, good movie. Anyone 34 00:01:50,560 --> 00:01:54,080 Speaker 1: who hasn't seen that can sign up to be derided 35 00:01:54,120 --> 00:01:57,120 Speaker 1: by Chuck and I um on our blog, which we'll 36 00:01:57,120 --> 00:01:59,720 Speaker 1: talk about later. But first let's talk about money laundering 37 00:01:59,760 --> 00:02:03,280 Speaker 1: shock Lets. So you know, like for the most part, 38 00:02:03,640 --> 00:02:05,640 Speaker 1: it's a well you would think for the most part, 39 00:02:05,680 --> 00:02:10,160 Speaker 1: it's it's the realm of drug dealers, like they use 40 00:02:10,280 --> 00:02:14,040 Speaker 1: cash almost exclusively. They've got to wash it. It's dirty money. 41 00:02:14,120 --> 00:02:18,600 Speaker 1: They can't account for it. Um and the the text system, 42 00:02:18,760 --> 00:02:20,959 Speaker 1: especially in the US, is set up in such a 43 00:02:21,000 --> 00:02:27,880 Speaker 1: way that that's supposed to be obvious where which is 44 00:02:27,880 --> 00:02:30,240 Speaker 1: where money laundering comes in. It's a way around this, 45 00:02:30,600 --> 00:02:33,400 Speaker 1: you know, declaration of Hey, I made a bunch of 46 00:02:33,400 --> 00:02:36,119 Speaker 1: money by selling heroin, which you can't really do because 47 00:02:36,160 --> 00:02:38,959 Speaker 1: they bust you for selling heroin. I'm surprised the government, 48 00:02:38,960 --> 00:02:44,600 Speaker 1: wouldn't you say that's great. Yeah, I mean really, honestly, 49 00:02:45,360 --> 00:02:47,600 Speaker 1: what would the I r S contact the DA or 50 00:02:47,639 --> 00:02:49,560 Speaker 1: would the I r S just be like, you're an 51 00:02:49,639 --> 00:02:52,320 Speaker 1: upstanding citizen, you're drug dealer. Well, that's one of the 52 00:02:52,320 --> 00:02:54,600 Speaker 1: big arguments for legalization of drugs is you can just 53 00:02:54,720 --> 00:02:56,560 Speaker 1: tax the heck out of it and legitimize it and 54 00:02:56,560 --> 00:02:57,960 Speaker 1: make a lot of money off of it. And again, 55 00:02:58,000 --> 00:03:00,520 Speaker 1: remember when we were talking about how Moon's Done works. 56 00:03:01,440 --> 00:03:05,000 Speaker 1: During prohibition, it kind of added this forbidden aspect to 57 00:03:05,000 --> 00:03:08,120 Speaker 1: to drinking, and so of course drinking increase, right, So 58 00:03:08,160 --> 00:03:10,360 Speaker 1: that makes you wonder if drug use would drop. But 59 00:03:10,440 --> 00:03:12,960 Speaker 1: that's neither here nor there. It isn't. But what I 60 00:03:13,000 --> 00:03:15,440 Speaker 1: was saying was is you would think it's mainly drug 61 00:03:15,480 --> 00:03:19,680 Speaker 1: traffickers engaged in money laundering is because a million dollars 62 00:03:19,680 --> 00:03:27,720 Speaker 1: in cocaine estimated at twenty ki lows, right, um or 63 00:03:27,880 --> 00:03:32,120 Speaker 1: twenty key lows for our metric friends, Yeah, um and uh, 64 00:03:32,160 --> 00:03:34,440 Speaker 1: a million dollars in cash weighs two hundred and fifty 65 00:03:34,480 --> 00:03:37,480 Speaker 1: six pounds, So it's kind of tricky, right. The thing is, 66 00:03:37,480 --> 00:03:39,840 Speaker 1: though it doesn't it turns out it's not just drug 67 00:03:39,880 --> 00:03:44,640 Speaker 1: dealers who are laundering this heavy, heavy cash because the 68 00:03:44,840 --> 00:03:47,400 Speaker 1: UN estimates this is a two thousand five estimates. The 69 00:03:47,560 --> 00:03:51,040 Speaker 1: latest I can find that the global drug trade is 70 00:03:51,160 --> 00:03:55,280 Speaker 1: valued at about three billion dollars annually. It is a 71 00:03:55,320 --> 00:04:00,400 Speaker 1: lot of dope, but it's estimated that the value of 72 00:04:00,440 --> 00:04:03,560 Speaker 1: all of the money that's laundered every year globally is 73 00:04:03,560 --> 00:04:08,000 Speaker 1: somewhere between five hundred billion and one trillion. So clearly 74 00:04:09,080 --> 00:04:12,440 Speaker 1: the entirety of the drug trade three times over couldn't 75 00:04:12,440 --> 00:04:15,200 Speaker 1: account for the high end estimate now of of all 76 00:04:15,200 --> 00:04:19,080 Speaker 1: the money that's being laundered in the world every year. Terrorists, terrorists, 77 00:04:19,080 --> 00:04:23,640 Speaker 1: big white collar guys, um, basically anybody who's come across 78 00:04:23,760 --> 00:04:25,960 Speaker 1: a substantial amount of money that you can't just walk 79 00:04:26,000 --> 00:04:27,840 Speaker 1: around within your pockets and you don't want to pay 80 00:04:27,880 --> 00:04:32,800 Speaker 1: taxes on right, you you launder the money, right, So 81 00:04:32,839 --> 00:04:34,680 Speaker 1: how how do you do this? Oh? And also I 82 00:04:34,720 --> 00:04:37,280 Speaker 1: should probably say the vast majority of the cash that's 83 00:04:37,279 --> 00:04:39,560 Speaker 1: getting washed is the U. S. Dollar for two reasons. 84 00:04:40,320 --> 00:04:43,880 Speaker 1: Number one, it's pretty much the de facto international currency. 85 00:04:44,200 --> 00:04:47,159 Speaker 1: We learned about that in our audiobook, right, I'm sorry, 86 00:04:47,160 --> 00:04:51,400 Speaker 1: our spoken word album um. And Uh. Also because the 87 00:04:51,440 --> 00:04:54,400 Speaker 1: US is some of the strictest banking transparency laws in 88 00:04:54,400 --> 00:04:57,760 Speaker 1: the world. So if you have some dollars and you 89 00:04:57,760 --> 00:04:59,920 Speaker 1: want to get it back into the US, you've gotta 90 00:05:00,040 --> 00:05:02,200 Speaker 1: wash it first, Right, So how do you do that? 91 00:05:02,560 --> 00:05:06,000 Speaker 1: Let's talk about the three steps Chuck. Number one is 92 00:05:06,040 --> 00:05:10,880 Speaker 1: called placement three steps the money long. Placement basically means 93 00:05:10,920 --> 00:05:16,080 Speaker 1: that the launderer UH inserts dirty money into a legitimate 94 00:05:16,279 --> 00:05:18,520 Speaker 1: um financial institution, Like so they'll put their money in 95 00:05:18,520 --> 00:05:21,920 Speaker 1: a bank, but it's dirty money. This is the point. 96 00:05:22,000 --> 00:05:24,880 Speaker 1: This is the riskiest stage. This is like the water 97 00:05:25,320 --> 00:05:28,520 Speaker 1: making that tense, hollow sound is it's filling up in 98 00:05:28,560 --> 00:05:30,960 Speaker 1: the drum of the washing machine. Right. And it's risky 99 00:05:31,000 --> 00:05:34,000 Speaker 1: because cash, large amounts of cash are always a red 100 00:05:34,000 --> 00:05:36,720 Speaker 1: flag UH these days, and in fact, in the US, 101 00:05:36,800 --> 00:05:39,240 Speaker 1: I believe the limit is a ten thousand dollar deposit. 102 00:05:39,600 --> 00:05:41,960 Speaker 1: It's not just the US that holds that standard, but 103 00:05:42,000 --> 00:05:47,360 Speaker 1: definitely sure. Yeah, the International Task Force, well, they're required 104 00:05:47,400 --> 00:05:51,719 Speaker 1: to report anything ten thousand or I believe it's anything 105 00:05:51,760 --> 00:05:54,200 Speaker 1: totally in ten thousand within like a five day period, 106 00:05:54,200 --> 00:05:56,520 Speaker 1: Is that right? I think one day, one day. Okay, 107 00:05:56,560 --> 00:05:59,160 Speaker 1: you're right, but yes, still the golden number if you're 108 00:05:59,200 --> 00:06:02,200 Speaker 1: laundering money is to stay below tan grand in a day, right, 109 00:06:02,200 --> 00:06:04,960 Speaker 1: in deposits. So once you've got that done and your 110 00:06:05,080 --> 00:06:07,599 Speaker 1: dirty money is in a bank, lots of it, you 111 00:06:07,640 --> 00:06:10,279 Speaker 1: move on to step two, which is called layering, and 112 00:06:10,360 --> 00:06:15,040 Speaker 1: that means you start to send this money out via transactions. Right, 113 00:06:15,080 --> 00:06:19,200 Speaker 1: we're talking bank to bank transfers, wiring money, um, investing 114 00:06:19,200 --> 00:06:21,760 Speaker 1: in some high value items like you can go buying 115 00:06:21,839 --> 00:06:24,799 Speaker 1: yacht or something like that. And you're basically just trying 116 00:06:24,839 --> 00:06:27,440 Speaker 1: to send the money out and spread it around to 117 00:06:27,480 --> 00:06:29,600 Speaker 1: all different sorts of places. This is why I consider 118 00:06:29,680 --> 00:06:32,440 Speaker 1: the rent cycle the rent cycle. Yes, yeah, it's so 119 00:06:32,600 --> 00:06:35,919 Speaker 1: it's being agitated and and um yeah, so this is 120 00:06:35,960 --> 00:06:39,480 Speaker 1: and that's the most complex. This is part of laundering 121 00:06:39,480 --> 00:06:42,560 Speaker 1: money as well, because you're taking one lump sum and 122 00:06:42,600 --> 00:06:45,440 Speaker 1: then dividing it into as many things as you possibly can, 123 00:06:45,720 --> 00:06:48,240 Speaker 1: which makes it hard to trace, which is really essentially 124 00:06:48,240 --> 00:06:50,360 Speaker 1: the whole point to money launderings. You want to make 125 00:06:50,400 --> 00:06:53,280 Speaker 1: it really hard to trace back to you. So then 126 00:06:53,320 --> 00:06:57,400 Speaker 1: we come, Josh Josh E to integration, which is phase three, 127 00:06:58,000 --> 00:07:00,160 Speaker 1: and this is when the money comes back and the 128 00:07:00,200 --> 00:07:05,800 Speaker 1: mainstream economy um looking like legitimate transactions. You divest from 129 00:07:05,800 --> 00:07:10,800 Speaker 1: those legitimate businesses you invested in, you sell that yacht um, 130 00:07:10,960 --> 00:07:14,640 Speaker 1: or you transfer money from these kind of shady banks 131 00:07:15,480 --> 00:07:19,360 Speaker 1: or or or banks in in countries of shady systems, 132 00:07:19,360 --> 00:07:22,120 Speaker 1: which we talk about in a minute, into you know, 133 00:07:22,240 --> 00:07:25,120 Speaker 1: US banks again or something. And at that point, as 134 00:07:25,320 --> 00:07:29,240 Speaker 1: Joe Pesci would say, the money is laundered, yes, and 135 00:07:29,280 --> 00:07:31,600 Speaker 1: that that was too I think I call it. That's 136 00:07:31,640 --> 00:07:34,760 Speaker 1: sad that you know that I'm ashamed of you right now. 137 00:07:35,400 --> 00:07:36,760 Speaker 1: The next thing, you know, you're gonna tell me you 138 00:07:36,760 --> 00:07:39,920 Speaker 1: watch The Closer. I know I've never seen that show, 139 00:07:40,240 --> 00:07:44,600 Speaker 1: but I'm a big alright, so so good, this is nice. 140 00:07:44,760 --> 00:07:48,400 Speaker 1: I was at one point until The Closer. Let's get 141 00:07:48,640 --> 00:07:53,400 Speaker 1: offer so um, you know, since there's so many different 142 00:07:53,440 --> 00:07:59,040 Speaker 1: countries out there, that have banking secrecy UM protection. Basically, 143 00:07:59,680 --> 00:08:02,840 Speaker 1: there's so many places where you can go buy a 144 00:08:02,960 --> 00:08:05,240 Speaker 1: yacht and they're not going that. They don't have to 145 00:08:05,320 --> 00:08:08,320 Speaker 1: buy laws say where'd you get this money? Um, And 146 00:08:08,440 --> 00:08:11,119 Speaker 1: businesses don't have to say, hey, where'd you get this money? 147 00:08:11,320 --> 00:08:13,960 Speaker 1: If you're investing in them. That it seems like it 148 00:08:13,960 --> 00:08:16,960 Speaker 1: would be impossible to catch. It's it's hard to catch too. 149 00:08:17,040 --> 00:08:18,960 Speaker 1: It is, well, Josh is certainly not from a lack 150 00:08:19,000 --> 00:08:21,320 Speaker 1: of looking, because there are a lot of places that 151 00:08:21,560 --> 00:08:25,360 Speaker 1: try to find money launderers, like the Department of Justice, 152 00:08:25,560 --> 00:08:29,280 Speaker 1: State Department, FBI, I R S, d e A. They've 153 00:08:29,320 --> 00:08:34,000 Speaker 1: all got money laundering departments or money laundering. They're not 154 00:08:34,120 --> 00:08:37,920 Speaker 1: laundering money obviously, no, they're they're looking for money launders. 155 00:08:38,520 --> 00:08:41,839 Speaker 1: So um, yeah, the I R S can find you, 156 00:08:42,000 --> 00:08:43,880 Speaker 1: and I imagine if you're a money launder, they can 157 00:08:43,920 --> 00:08:47,320 Speaker 1: find you to write. And there's also since we're talking 158 00:08:47,320 --> 00:08:49,680 Speaker 1: about those are the United States based organizations. It gets 159 00:08:49,679 --> 00:08:53,760 Speaker 1: global too because it's it usually involves global transactions. That's 160 00:08:53,840 --> 00:08:55,760 Speaker 1: kind of the key to the whole thing. So there's 161 00:08:55,760 --> 00:08:59,319 Speaker 1: something called the Financial Action Task Force on Money Laundering, 162 00:08:59,360 --> 00:09:01,719 Speaker 1: the f a T That was the other organization. I 163 00:09:01,760 --> 00:09:06,480 Speaker 1: was saying that has that ten tho dollar reporting required. Well, 164 00:09:06,520 --> 00:09:09,040 Speaker 1: that's fantastic. The UN gets involved to our buddies at 165 00:09:09,040 --> 00:09:12,480 Speaker 1: the u N. Yeah, the World Monetary Fund, So that's 166 00:09:12,520 --> 00:09:16,040 Speaker 1: who's looking out for International Monetary Fund. I'm sorry about 167 00:09:16,040 --> 00:09:19,080 Speaker 1: that one, right. So do you want to talk about 168 00:09:19,160 --> 00:09:22,480 Speaker 1: the some of these methods, Josh, Like the Paco exchange, Yeah, 169 00:09:22,520 --> 00:09:25,640 Speaker 1: that's pretty cool, hit it? Okay, so, um that is 170 00:09:25,760 --> 00:09:29,200 Speaker 1: the black market Colombian payso exchange system. And this is 171 00:09:29,240 --> 00:09:33,160 Speaker 1: like the the the world standard um and actually it 172 00:09:33,240 --> 00:09:36,360 Speaker 1: is centered in Colombia. What happens is is like say 173 00:09:36,480 --> 00:09:38,840 Speaker 1: you are a drug trafficker and you have a bunch 174 00:09:38,840 --> 00:09:41,840 Speaker 1: of dirty money. Chuck, say it. I am a drug 175 00:09:41,880 --> 00:09:44,319 Speaker 1: trafficker and I have a load of dirty money. Well 176 00:09:44,360 --> 00:09:46,680 Speaker 1: I just happened friend to be a paso broker, and 177 00:09:46,720 --> 00:09:48,360 Speaker 1: I can clean that money for you. And you want 178 00:09:48,360 --> 00:09:49,880 Speaker 1: to hear how I'm gonna do it. Well, what do 179 00:09:49,880 --> 00:09:52,240 Speaker 1: you mean by clean, Josh? I'm gonna make it so 180 00:09:52,280 --> 00:09:56,040 Speaker 1: that it's legitimate again. Okay, So what's going to happen 181 00:09:56,120 --> 00:09:59,040 Speaker 1: is you're going to give me your dirty money. Okay, 182 00:09:59,280 --> 00:10:02,760 Speaker 1: I'm going to give it to a Colombian importer who's 183 00:10:02,800 --> 00:10:06,880 Speaker 1: going to buy a bunch of American made goods, and 184 00:10:07,280 --> 00:10:09,040 Speaker 1: we're gonna buy him on the black market because we 185 00:10:09,040 --> 00:10:11,520 Speaker 1: don't want to pay any taxes on any of this. Right, 186 00:10:12,040 --> 00:10:14,720 Speaker 1: So the importer goes in orders a bunch of stuff, 187 00:10:14,880 --> 00:10:20,120 Speaker 1: gets it under the radar, UM, imported to Colombia, sells 188 00:10:20,160 --> 00:10:24,840 Speaker 1: it for paces, takes the paces, the the the Colombian 189 00:10:24,840 --> 00:10:27,040 Speaker 1: importer is going to give me the pasos, take a 190 00:10:27,040 --> 00:10:29,280 Speaker 1: little bit for himself, any profit he can make off 191 00:10:29,320 --> 00:10:31,439 Speaker 1: of it. He's gonna pay me back the equivalent of 192 00:10:31,480 --> 00:10:33,719 Speaker 1: the U. S. Dollars I gave him in pasos. I'm 193 00:10:33,720 --> 00:10:35,839 Speaker 1: gonna skim a little off top and bot a boom 194 00:10:35,840 --> 00:10:38,200 Speaker 1: bout a. Being my friend, you have just converted your 195 00:10:38,320 --> 00:10:42,439 Speaker 1: dirty U. S. Dollars to clean Colombian pasos. Thanks than 196 00:10:42,600 --> 00:10:44,720 Speaker 1: go forth, do whatever you like. We've got a deal. 197 00:10:45,080 --> 00:10:48,520 Speaker 1: Thank you, thank you for It's basically it is UH 198 00:10:48,600 --> 00:10:50,800 Speaker 1: and actually sadly it is very easy and it was 199 00:10:50,840 --> 00:10:53,520 Speaker 1: fine under the radar, like we said, for many many years, 200 00:10:53,559 --> 00:10:58,160 Speaker 1: and apparently the Colombian government UH and the American government 201 00:10:58,200 --> 00:11:00,960 Speaker 1: we're trying to figure out, um what was going on 202 00:11:01,040 --> 00:11:04,160 Speaker 1: with all of these illegal u S imports and came 203 00:11:04,160 --> 00:11:06,440 Speaker 1: to figure out also, oh yeah, well Columbia also has 204 00:11:06,440 --> 00:11:10,319 Speaker 1: a huge money loan doing problem and they're known understand it, 205 00:11:10,440 --> 00:11:14,640 Speaker 1: ye right, Yeah, so that's the old black market Columbia 206 00:11:14,679 --> 00:11:18,440 Speaker 1: pays so exchange two steps shuffle, very nice and apparently 207 00:11:18,480 --> 00:11:20,679 Speaker 1: that's just a one stop shopping deal. If you want 208 00:11:20,679 --> 00:11:22,760 Speaker 1: to laund your money, that's the place to go. But 209 00:11:22,800 --> 00:11:24,640 Speaker 1: there's also another one, and I know this one's your 210 00:11:24,679 --> 00:11:29,960 Speaker 1: favorite because of the name smurfing. Uh, structuring deposits is 211 00:11:30,280 --> 00:11:33,160 Speaker 1: uh the formal name, but they call it smurfing. And 212 00:11:33,200 --> 00:11:35,559 Speaker 1: basically this entails when you break up large amounts of 213 00:11:35,559 --> 00:11:40,600 Speaker 1: money into smaller um less suspicious amounts. So in the 214 00:11:40,679 --> 00:11:43,880 Speaker 1: US that's got to be below ten tho dollars um because, 215 00:11:43,920 --> 00:11:45,640 Speaker 1: like we said, that's when banks have to report you. 216 00:11:46,440 --> 00:11:49,960 Speaker 1: And uh, it's the money is deposited. The smaller amounts 217 00:11:49,960 --> 00:11:53,199 Speaker 1: are deposited into one or more banks by people called smurfs, 218 00:11:53,200 --> 00:11:55,800 Speaker 1: that's what they call them. Yeah, for no apparent reason. 219 00:11:56,080 --> 00:11:59,080 Speaker 1: So smurf that unless pay O, the creator of the Smurfs, 220 00:11:59,080 --> 00:12:01,640 Speaker 1: was caught doing this, maybe that's where it was, Maybe 221 00:12:01,679 --> 00:12:04,760 Speaker 1: that's where it originated. It sounds like a smurfing good 222 00:12:04,800 --> 00:12:07,920 Speaker 1: idea to me. Have you ever seen the smurf carpet 223 00:12:07,920 --> 00:12:12,880 Speaker 1: bomb ad? No? I think it was for um UNICEF. 224 00:12:13,160 --> 00:12:15,400 Speaker 1: It was a UNICEF ad and they played it in 225 00:12:15,720 --> 00:12:19,360 Speaker 1: Belgium and basically it was an anti war public service 226 00:12:19,400 --> 00:12:22,000 Speaker 1: announcement and they used the Smurfs and the Smurf's villages 227 00:12:22,080 --> 00:12:24,679 Speaker 1: just carpet bombed and they're all like killed, and they 228 00:12:24,960 --> 00:12:28,520 Speaker 1: showed the aftermath and burning smurfs are walking around. It's 229 00:12:28,559 --> 00:12:31,839 Speaker 1: really something you should look it up. Jeez. Uh. So 230 00:12:31,880 --> 00:12:35,000 Speaker 1: that's disturbing onto overseas banks, which is always big. You 231 00:12:35,000 --> 00:12:38,240 Speaker 1: always hear about offshore accounts and you know, growing up 232 00:12:38,320 --> 00:12:40,600 Speaker 1: you hear this from watching chips and stuff like that 233 00:12:40,640 --> 00:12:42,800 Speaker 1: in my era, and you hear about offshore accounts and 234 00:12:42,800 --> 00:12:45,280 Speaker 1: always pictures some like bank floating in the ocean. You know, 235 00:12:45,800 --> 00:12:48,880 Speaker 1: that's not what's going on there. But they're basically countries 236 00:12:48,960 --> 00:12:51,400 Speaker 1: have really lax or not lax, but they just have 237 00:12:51,480 --> 00:12:55,360 Speaker 1: secrecy laws and allow anonymous banking to take place. Yeah, 238 00:12:55,720 --> 00:13:00,439 Speaker 1: like bah rain Um is one that's not in the Caribbean, Hamas, 239 00:13:00,559 --> 00:13:04,520 Speaker 1: the Caymans, Caymans, Hams, Caymans, Hong Kong shore. Uh, there's 240 00:13:04,520 --> 00:13:08,319 Speaker 1: a place called Macau off the coast of China underground 241 00:13:08,400 --> 00:13:10,760 Speaker 1: alternative banking, which kind of cracks me up. I don't 242 00:13:10,760 --> 00:13:13,080 Speaker 1: know that I would invest in an alternative bank. This 243 00:13:13,120 --> 00:13:15,720 Speaker 1: seems kind of like tribal in nature. Yeah, exactly, like 244 00:13:15,760 --> 00:13:19,120 Speaker 1: it's existed long before any banking regulations. Very popular in 245 00:13:19,160 --> 00:13:23,520 Speaker 1: Asia and now than Pakistan, the Hawalla system in Pakistan 246 00:13:23,559 --> 00:13:26,360 Speaker 1: and India and the five Chin system in China. Yeah, 247 00:13:26,800 --> 00:13:28,800 Speaker 1: so basically it's a it's a trust system. There's no 248 00:13:28,840 --> 00:13:31,920 Speaker 1: paper trail, no paper, which is key because you want 249 00:13:31,720 --> 00:13:34,120 Speaker 1: to lounder money, you don't want paper. That's all point. 250 00:13:34,160 --> 00:13:37,120 Speaker 1: It's pretty it's very much like the offshore accounts, Like 251 00:13:37,160 --> 00:13:42,160 Speaker 1: these are secret accounts. You they won't reveal your identity. Um, 252 00:13:42,720 --> 00:13:45,920 Speaker 1: there's no paper trail that's public in any way, shape 253 00:13:45,960 --> 00:13:48,680 Speaker 1: or form. So these are really good places to use 254 00:13:48,720 --> 00:13:51,080 Speaker 1: if you plan on laundering any money, right, not that 255 00:13:51,080 --> 00:13:53,400 Speaker 1: we would encourage that, because it's illegal, You get busted, 256 00:13:53,440 --> 00:13:55,000 Speaker 1: you go to jail. No, although if you look at 257 00:13:55,040 --> 00:13:58,480 Speaker 1: if you put together some of these seemingly random podcasts 258 00:13:58,480 --> 00:14:02,680 Speaker 1: we've done, you could make move Chine sell it lounder money. 259 00:14:02,880 --> 00:14:08,520 Speaker 1: Londer money and exactly early on and then get out. 260 00:14:09,360 --> 00:14:13,280 Speaker 1: So there you go, and here we are not making 261 00:14:14,040 --> 00:14:15,960 Speaker 1: take your own advice, right. And then Josh, there are 262 00:14:16,000 --> 00:14:18,120 Speaker 1: shell companies. Of course, when you have like a fake company, 263 00:14:18,160 --> 00:14:21,120 Speaker 1: you'll set up that really doesn't sell or manufacture anything. 264 00:14:21,160 --> 00:14:23,880 Speaker 1: What's the difference between a shell company and a front company? 265 00:14:24,400 --> 00:14:26,160 Speaker 1: Is there a difference? There's a difference. You want to know? 266 00:14:26,320 --> 00:14:27,600 Speaker 1: Then why don't you talk? I was just trying to 267 00:14:27,640 --> 00:14:30,240 Speaker 1: set you up. But the shell company is set up, 268 00:14:30,520 --> 00:14:33,000 Speaker 1: it doesn't really do anything. It's only it only really 269 00:14:33,000 --> 00:14:37,640 Speaker 1: exists on paper, um, and it's express purposes the longer money. 270 00:14:37,640 --> 00:14:40,680 Speaker 1: A front company is real company, right, but it's meant 271 00:14:40,680 --> 00:14:42,880 Speaker 1: to longer money too. But you could say it's a store. 272 00:14:42,920 --> 00:14:44,880 Speaker 1: You could actually go into the store and buy something, 273 00:14:45,760 --> 00:14:48,720 Speaker 1: but it really the purposes to longer money. And that 274 00:14:48,800 --> 00:14:51,760 Speaker 1: actually leads us to one of the problems with money laundering. 275 00:14:51,760 --> 00:14:54,440 Speaker 1: I mean, you ask, why why would I care if 276 00:14:54,440 --> 00:14:57,120 Speaker 1: people are laundering money, you know, aside aside from the 277 00:14:57,120 --> 00:14:59,720 Speaker 1: obvious one like I hate drug dealers, you know, and 278 00:14:59,720 --> 00:15:02,360 Speaker 1: and don't want them laundering the money, or I hate terrorists. 279 00:15:02,360 --> 00:15:06,600 Speaker 1: Clearly everybody hates terrorists. Yeah, but but for this reason, 280 00:15:06,760 --> 00:15:10,560 Speaker 1: the last part with the front company, it affects local 281 00:15:10,560 --> 00:15:14,640 Speaker 1: economies and that small businesses can't compete with the front 282 00:15:14,680 --> 00:15:16,760 Speaker 1: company because they're not trying to turn a profit off 283 00:15:16,800 --> 00:15:18,800 Speaker 1: their product, so they can sell it like add or 284 00:15:18,840 --> 00:15:21,720 Speaker 1: below cost if they want and drive other companies out 285 00:15:21,720 --> 00:15:23,800 Speaker 1: of business. Well that seems a little flashy to me. 286 00:15:23,840 --> 00:15:25,960 Speaker 1: If you're a front company, sure, I would think you 287 00:15:26,080 --> 00:15:28,960 Speaker 1: just kind of want to stay even keel the whole time. Right, Yeah, 288 00:15:29,000 --> 00:15:32,400 Speaker 1: But greed, brother, it's true. Same with the ponse it's 289 00:15:32,680 --> 00:15:35,120 Speaker 1: greed takes a hold and then you're screwed. Same with 290 00:15:35,120 --> 00:15:38,240 Speaker 1: the what it's a Ponzi scheme, but on a much 291 00:15:38,280 --> 00:15:40,680 Speaker 1: a much larger level, there's other bigger problems, like it 292 00:15:40,760 --> 00:15:44,520 Speaker 1: can affect whole financial sectors or economies if enough money 293 00:15:44,640 --> 00:15:47,160 Speaker 1: is is laundered through. Well. One of the reasons why 294 00:15:47,240 --> 00:15:48,800 Speaker 1: is a lot of these countries that these things are 295 00:15:48,840 --> 00:15:51,880 Speaker 1: running through were small countries and they don't have like 296 00:15:51,920 --> 00:15:54,960 Speaker 1: the big, huge economy United States does. So someone's laundering 297 00:15:55,560 --> 00:15:59,280 Speaker 1: you know, seventy five million dollars through a tiny little country. 298 00:15:59,440 --> 00:16:02,080 Speaker 1: It's all vaults. You know, that's gonna affect the economy 299 00:16:02,080 --> 00:16:04,320 Speaker 1: in that country. Yeah, Plus no one pays taxes on it, 300 00:16:04,400 --> 00:16:06,560 Speaker 1: so you and I end up making up, well, not you, 301 00:16:06,600 --> 00:16:08,920 Speaker 1: because apparently you don't pay taxes, but I do now, 302 00:16:08,960 --> 00:16:12,840 Speaker 1: pal Okay, I just didn't in the mid early decade. 303 00:16:13,400 --> 00:16:15,640 Speaker 1: Yeah uh so, yeah, we end up making up for 304 00:16:15,680 --> 00:16:18,800 Speaker 1: that taxpayers do by having to pay higher taxes. Right. 305 00:16:18,840 --> 00:16:20,880 Speaker 1: But I think ultimately the reason why the d o J, 306 00:16:21,120 --> 00:16:23,160 Speaker 1: the FBI, the I R S, and the d e 307 00:16:23,280 --> 00:16:26,400 Speaker 1: A are all involved in trying to catch money Launders 308 00:16:26,440 --> 00:16:29,000 Speaker 1: because the government ain't making any money off of it. Exactly, 309 00:16:29,040 --> 00:16:31,120 Speaker 1: you know what I mean. I mean we're talking if 310 00:16:31,160 --> 00:16:34,800 Speaker 1: we're if it's a trillion dollars, you know what's thirty 311 00:16:35,200 --> 00:16:37,840 Speaker 1: of that billion? I gotta tell you, the U S 312 00:16:37,840 --> 00:16:39,840 Speaker 1: could use that three billion right now if you can 313 00:16:39,880 --> 00:16:41,400 Speaker 1: get you that much of a chunk of it, right 314 00:16:41,960 --> 00:16:44,600 Speaker 1: and we'd go give it to some institution that's collapsing 315 00:16:44,800 --> 00:16:49,600 Speaker 1: exactly exactly. Yeah, that's that's robbing Peter to pay Paul. 316 00:16:50,400 --> 00:16:53,120 Speaker 1: Oh wait, that was from the Ponzi scheme when wasn't it. Yeah, 317 00:16:53,160 --> 00:16:56,800 Speaker 1: but that's still a nice term. Okay, thanks a lot, um, So, Chuck, 318 00:16:56,840 --> 00:16:59,920 Speaker 1: you want to talk about a couple of famous um 319 00:17:00,000 --> 00:17:03,080 Speaker 1: any laundering busts. I would love to talk about Crazy Eddie. Okay, good, 320 00:17:03,080 --> 00:17:05,560 Speaker 1: because I want to talk about Franklin GIRARDA. Didn't that great? 321 00:17:05,600 --> 00:17:08,320 Speaker 1: When it works out like that, it's different Crazy Eddie. 322 00:17:08,359 --> 00:17:10,040 Speaker 1: And I remember this guy when I lived in New 323 00:17:10,119 --> 00:17:13,240 Speaker 1: Jersey seeing the Crazy Eddies TV commercial. Oh yeah, he 324 00:17:13,240 --> 00:17:15,040 Speaker 1: was one of those guys that it's exactly how you 325 00:17:15,080 --> 00:17:18,959 Speaker 1: would think Crazy Eddies. Uh. This is in the nineteen eighties, 326 00:17:19,040 --> 00:17:23,040 Speaker 1: Eddie and Tar Crazy Eddie's Electronics. He skimmed millions of 327 00:17:23,119 --> 00:17:27,280 Speaker 1: dollars uh from his own company to hide it from 328 00:17:27,280 --> 00:17:29,760 Speaker 1: the I R S. So he was doing this, he 329 00:17:29,800 --> 00:17:33,360 Speaker 1: had some co conspirators and eventually he thought, you know what, 330 00:17:33,840 --> 00:17:36,439 Speaker 1: I should send this money back into my own company. 331 00:17:36,560 --> 00:17:39,399 Speaker 1: Disguised his revenue right because he was going to launch 332 00:17:39,400 --> 00:17:43,760 Speaker 1: an initial public offering, so I'll inflate my soon to 333 00:17:43,800 --> 00:17:49,000 Speaker 1: be stock quote And he did substantially right bucks or something. Yeah, 334 00:17:49,160 --> 00:17:52,879 Speaker 1: but that's false money. So it was over inflated and 335 00:17:53,080 --> 00:17:56,560 Speaker 1: the result for him was bad news. He laundered more 336 00:17:56,560 --> 00:18:00,520 Speaker 1: than eight million bucks and was busted and flew to 337 00:18:00,680 --> 00:18:04,119 Speaker 1: Israel and they found him in nine they extradited him 338 00:18:04,160 --> 00:18:06,760 Speaker 1: back to US. To stand trial and he went to 339 00:18:07,119 --> 00:18:10,560 Speaker 1: the Who's Scott for eight years? Yeah, which isn't that bad. 340 00:18:10,600 --> 00:18:12,679 Speaker 1: I imagine he probably had a lot of money staffed 341 00:18:12,680 --> 00:18:14,480 Speaker 1: away waiting for I know, I was kind of surprised 342 00:18:14,520 --> 00:18:16,399 Speaker 1: most of these prison sentences in here, like six to 343 00:18:16,480 --> 00:18:17,760 Speaker 1: eight years. I think it would be a little more 344 00:18:17,800 --> 00:18:19,840 Speaker 1: than that. That's why I think the Bernard made Off 345 00:18:20,080 --> 00:18:22,240 Speaker 1: sentence is gonna be so cute, just gonna get like 346 00:18:22,280 --> 00:18:25,640 Speaker 1: a hundred plus years. Yeah. So, um, can I talk 347 00:18:25,680 --> 00:18:29,840 Speaker 1: about my guy now, Franklin Girardo. Uh and you want 348 00:18:29,880 --> 00:18:31,639 Speaker 1: to put an R toward the end of it, but 349 00:18:31,680 --> 00:18:35,280 Speaker 1: it's not. It's Gerrado Grado. Um. So he was actually 350 00:18:35,359 --> 00:18:39,960 Speaker 1: an economist. Um. And apparently economists are really good people 351 00:18:39,960 --> 00:18:42,879 Speaker 1: to get to to longer money for you because they 352 00:18:42,920 --> 00:18:44,880 Speaker 1: know exactly what they're doing. You just need to get 353 00:18:45,000 --> 00:18:48,280 Speaker 1: a crooked economist pretty much. And from what I understand, 354 00:18:48,280 --> 00:18:50,720 Speaker 1: this guy was it. Um. There was a Colombian drug 355 00:18:50,800 --> 00:18:55,639 Speaker 1: kingpin named Jose Santa Cruz Londono and uh he had 356 00:18:56,280 --> 00:19:02,080 Speaker 1: Gerrado basically placed the drug money into Colombian banks, right, 357 00:19:02,200 --> 00:19:05,240 Speaker 1: which we've already seen Columbia not that big on the 358 00:19:05,280 --> 00:19:08,960 Speaker 1: banking regulation. Laws, right, and then from there he started 359 00:19:09,000 --> 00:19:12,960 Speaker 1: making wire transfers and deposits to a hundred different accounts 360 00:19:12,960 --> 00:19:14,840 Speaker 1: that have been set up some and made up names, 361 00:19:14,880 --> 00:19:18,520 Speaker 1: some in family members names. Um in sixty eight banks 362 00:19:18,520 --> 00:19:21,959 Speaker 1: in nine European countries, right, and he was doing this 363 00:19:22,000 --> 00:19:24,320 Speaker 1: really well for a while. Um. I think he managed 364 00:19:24,359 --> 00:19:29,200 Speaker 1: to launder thirty six million bucks. Um, but he was smurfing. Actually, 365 00:19:30,440 --> 00:19:33,160 Speaker 1: do you mean something else there or you mean smurfing? 366 00:19:33,400 --> 00:19:35,800 Speaker 1: He was smurfing as far as money laundering goes. I thought, 367 00:19:35,800 --> 00:19:39,120 Speaker 1: you're just using smurflight? Does your mind the getter there? Um? 368 00:19:39,320 --> 00:19:41,960 Speaker 1: He was. He was probably doing that too because you know, 369 00:19:42,040 --> 00:19:45,440 Speaker 1: he's laundering millions of dollars. So all the smurfy wanted 370 00:19:46,720 --> 00:19:50,440 Speaker 1: um the uh the he just threw me off there, 371 00:19:50,520 --> 00:19:53,320 Speaker 1: chucks sorry um so, but he was smurfing in that. 372 00:19:53,640 --> 00:19:56,720 Speaker 1: Like none of his deposits top ten thousand dollars, right, 373 00:19:57,160 --> 00:20:00,840 Speaker 1: So imagine how active this guy was, and he had 374 00:20:00,880 --> 00:20:03,000 Speaker 1: a lot of money to deal with. He got busted 375 00:20:03,040 --> 00:20:05,879 Speaker 1: basically in two ways. Um. A red flag was raised 376 00:20:05,880 --> 00:20:09,520 Speaker 1: when a bank in Monico collapsed, and UH an audit 377 00:20:09,560 --> 00:20:11,959 Speaker 1: revealed that that he had a bunch of accounts that 378 00:20:12,000 --> 00:20:13,960 Speaker 1: didn't have his name on it, but could be traced 379 00:20:14,000 --> 00:20:17,600 Speaker 1: back to him, which is fairly unusual. And then really 380 00:20:17,640 --> 00:20:20,480 Speaker 1: what when he was actually arrested? This is great. His 381 00:20:20,720 --> 00:20:25,000 Speaker 1: neighbor called the cops to file a noise complaint because 382 00:20:25,160 --> 00:20:28,840 Speaker 1: Gerardo was running his money County machine all night. The 383 00:20:28,920 --> 00:20:31,520 Speaker 1: cops show up and this guy surrounded by millions of 384 00:20:31,560 --> 00:20:33,720 Speaker 1: dollars in cash. I love those machines you see m 385 00:20:33,720 --> 00:20:36,520 Speaker 1: in the movies. Yeah so cool? Right, yeah, they are 386 00:20:36,600 --> 00:20:38,639 Speaker 1: pretty cool. I've never had enough money to put him. 387 00:20:38,640 --> 00:20:43,320 Speaker 1: Mine would go yeah, it would be over. Yeah, you 388 00:20:43,359 --> 00:20:47,320 Speaker 1: have fifteen dollars lucky. Um so yeah, that that's how 389 00:20:47,440 --> 00:20:49,800 Speaker 1: Gerardo got busted. He got seven and a half years, 390 00:20:49,960 --> 00:20:53,560 Speaker 1: and he's in Harvard. Man, we should note. Yeah, so 391 00:20:53,600 --> 00:20:57,520 Speaker 1: it's not all just untoward. Uh That's why I purposely 392 00:20:57,600 --> 00:21:02,040 Speaker 1: left off the Harvard educated economists, because I mean, I think, 393 00:21:02,760 --> 00:21:05,560 Speaker 1: look at made off. He's an intelligent guy, as crooked 394 00:21:05,560 --> 00:21:08,320 Speaker 1: as they come. It's called white collar, dude. It surely 395 00:21:08,440 --> 00:21:12,040 Speaker 1: is for a reason. Um, So I guess do you 396 00:21:12,080 --> 00:21:16,119 Speaker 1: want to just quickly go over operation Juno? Uh? Yeah, 397 00:21:16,600 --> 00:21:18,119 Speaker 1: do you you know what I'm talking about? Because you 398 00:21:18,119 --> 00:21:20,000 Speaker 1: know it happened right here in Atlanta. This is the 399 00:21:20,000 --> 00:21:22,040 Speaker 1: headquarters for it. That was a part of it. What 400 00:21:22,119 --> 00:21:25,000 Speaker 1: do you really know? But this was in Atlanta and 401 00:21:25,040 --> 00:21:26,679 Speaker 1: the d e A pulled this one off. And it 402 00:21:26,720 --> 00:21:31,320 Speaker 1: was not a sting operation for pregnant teens the movie Juno. 403 00:21:32,080 --> 00:21:35,960 Speaker 1: This is pre pre that. This is is when it ended. 404 00:21:36,560 --> 00:21:39,040 Speaker 1: And basically it was a sting operation. They set up 405 00:21:39,359 --> 00:21:43,560 Speaker 1: drug traffickers, gave them resources to to turn their drug 406 00:21:43,600 --> 00:21:45,800 Speaker 1: money and from dollars into pay so's used in the 407 00:21:45,800 --> 00:21:50,199 Speaker 1: original uh Paso scam, and they busted uh you know, 408 00:21:50,240 --> 00:21:54,120 Speaker 1: forty people, ten million bucks they seized. And what substantial 409 00:21:54,200 --> 00:21:56,560 Speaker 1: is the amount of cocaine that they seized. Yeah, thirty 410 00:21:56,600 --> 00:22:02,480 Speaker 1: six kilograms of cocaine, No, buddy, thirty six hundred yea, 411 00:22:03,400 --> 00:22:07,080 Speaker 1: three thousand, six hundred kilograms of cocaine. That puts scar 412 00:22:07,119 --> 00:22:09,240 Speaker 1: face even to shame, it really does. You can't stick 413 00:22:09,240 --> 00:22:11,359 Speaker 1: your face in that mount and walk away from it. No. 414 00:22:12,200 --> 00:22:14,199 Speaker 1: So that was Operation Juno. That was the d e A. 415 00:22:14,840 --> 00:22:17,880 Speaker 1: That's about as successful as it comes from what I understand. Yeah, 416 00:22:17,880 --> 00:22:20,200 Speaker 1: I always have mixed feelings about staying operations though, to 417 00:22:20,280 --> 00:22:23,840 Speaker 1: be honest, it's shifty, it's susceptive, It is well. At 418 00:22:23,880 --> 00:22:25,960 Speaker 1: the same time though that you're getting you've busted these people, 419 00:22:26,040 --> 00:22:29,000 Speaker 1: so the end result is nice, but you know, macabillion 420 00:22:30,000 --> 00:22:33,440 Speaker 1: and justifies the means. Sure in some cases. I think 421 00:22:33,480 --> 00:22:36,280 Speaker 1: that's a definite model for a lot of law enforcement. 422 00:22:36,320 --> 00:22:37,919 Speaker 1: I just think it's interesting that a cop can go 423 00:22:37,960 --> 00:22:40,280 Speaker 1: up and say, hey, man, you want to launder this money, 424 00:22:40,640 --> 00:22:42,639 Speaker 1: and we'll make it happen, and then we'll arrest you 425 00:22:42,680 --> 00:22:45,640 Speaker 1: for it. Clearly, the Colombians who are busted never saw 426 00:22:45,680 --> 00:22:49,679 Speaker 1: a scarface, so that's a money laundering. Um. If you 427 00:22:49,760 --> 00:22:51,639 Speaker 1: want to try your hand at it, you know pretty 428 00:22:51,720 --> 00:22:53,520 Speaker 1: much everything you need to know right now. Yes, but 429 00:22:53,560 --> 00:22:55,880 Speaker 1: you should not do that. And we want to thank JR. 430 00:22:55,920 --> 00:22:59,040 Speaker 1: From Portland, Oregon. Jr was who suggested this. Yeah, thanks 431 00:22:59,080 --> 00:23:00,720 Speaker 1: j R. That was a good idea right out of 432 00:23:00,720 --> 00:23:03,760 Speaker 1: the suggestion. But we wonder why j R. But whatever 433 00:23:03,960 --> 00:23:06,000 Speaker 1: he actually said his email, I don't want to try this. 434 00:23:06,240 --> 00:23:09,040 Speaker 1: I'm just curious. So if yeah, if he follows up 435 00:23:09,040 --> 00:23:12,919 Speaker 1: with counterfeiting, he'd like to hear that one then or PONTI, Well, 436 00:23:12,920 --> 00:23:16,040 Speaker 1: actually that we're digging your way out of prison, right Yeah, Well, 437 00:23:16,080 --> 00:23:17,440 Speaker 1: if you want to know a little more, this is 438 00:23:17,480 --> 00:23:21,680 Speaker 1: actually a great article by our colleague Julia Layton. Excellent writer. Um, 439 00:23:21,760 --> 00:23:24,680 Speaker 1: you can type in money laundering in the handy search 440 00:23:24,720 --> 00:23:27,680 Speaker 1: part how stuff works dot Com. Don't go anywhere because 441 00:23:27,720 --> 00:23:30,600 Speaker 1: we're about to blast your ears with our spoken word 442 00:23:30,960 --> 00:23:34,560 Speaker 1: plug a right, Josh and I and Jerry, I'm sorry, 443 00:23:34,640 --> 00:23:36,760 Speaker 1: Josh and me. We don't write in correct? Me again, 444 00:23:36,880 --> 00:23:39,600 Speaker 1: grammer police and getting that a lot. I know. Yeah, 445 00:23:39,600 --> 00:23:42,399 Speaker 1: it's called the Stuff you should know, super Stuff Guide 446 00:23:42,400 --> 00:23:45,240 Speaker 1: to the Economy, and we get to go out and 447 00:23:45,320 --> 00:23:48,879 Speaker 1: interview folks and go on location and we really break 448 00:23:48,880 --> 00:23:51,560 Speaker 1: down economics and the economy into the way that everyone 449 00:23:51,560 --> 00:23:53,280 Speaker 1: can understand. It was a lot of fun to do, Yes, 450 00:23:53,320 --> 00:23:55,840 Speaker 1: it was. We recommend it highly for three nine on 451 00:23:55,960 --> 00:23:59,280 Speaker 1: iTunes and type and super stuffed in the iTunes search 452 00:23:59,280 --> 00:24:01,960 Speaker 1: part should be the thing that comes up. And what's 453 00:24:02,000 --> 00:24:04,680 Speaker 1: most amazing to me is it doesn't suck. No, it's good. 454 00:24:04,720 --> 00:24:07,240 Speaker 1: We're very proud of it and we appreciate your support 455 00:24:07,240 --> 00:24:08,960 Speaker 1: thus far. And if you guys can support us with this, 456 00:24:09,000 --> 00:24:11,560 Speaker 1: we might get to record another one yea, something more 457 00:24:11,600 --> 00:24:15,000 Speaker 1: interesting than the economy, because you know, Chuck blogged me 458 00:24:15,720 --> 00:24:17,720 Speaker 1: yes blog. We also need to give a quick shout 459 00:24:17,720 --> 00:24:19,840 Speaker 1: out to our blog called Stuff you Should Know on 460 00:24:19,880 --> 00:24:24,159 Speaker 1: the website how stuffworks dot com, post today, Me in 461 00:24:24,200 --> 00:24:26,840 Speaker 1: the morning, Chuck at night. You should visit twice yes 462 00:24:26,880 --> 00:24:29,080 Speaker 1: to see you. And we do a podcast recap on 463 00:24:29,119 --> 00:24:31,800 Speaker 1: Friday's so that's where we can all sit around and 464 00:24:31,840 --> 00:24:34,000 Speaker 1: chat about what we do here. And you said you 465 00:24:34,000 --> 00:24:36,240 Speaker 1: can find on the right rail of the homepage. Yes, sir, 466 00:24:37,160 --> 00:24:39,719 Speaker 1: and uh that means thank you for bearing with us. 467 00:24:39,760 --> 00:24:41,760 Speaker 1: We tried to do a little shorter than usual because 468 00:24:42,160 --> 00:24:47,119 Speaker 1: it's listening mail time. So this comes to us from 469 00:24:47,400 --> 00:24:50,520 Speaker 1: Meg and I'm just gonna call this exceptional listener mail 470 00:24:50,840 --> 00:24:53,000 Speaker 1: only in one today. Can know which one this is? 471 00:24:53,200 --> 00:24:56,840 Speaker 1: It's good epilepsy, Yes, yeah, it's good. So in our 472 00:24:56,920 --> 00:24:59,879 Speaker 1: Deja Vu podcast we talked a little bit about epile 473 00:25:00,080 --> 00:25:03,320 Speaker 1: te and that it's tied to deja vu many times, 474 00:25:03,359 --> 00:25:06,760 Speaker 1: as is smelling lavendar before you have a seizure. So 475 00:25:06,880 --> 00:25:09,840 Speaker 1: Meg writes in and she wanted to thank us for 476 00:25:09,880 --> 00:25:13,240 Speaker 1: talking some about epilepsy as she is an epileptic. She 477 00:25:13,320 --> 00:25:16,760 Speaker 1: has a temporal lobe epilepsy, and she said she does 478 00:25:16,800 --> 00:25:19,679 Speaker 1: suffer from deja vu on a fairly regular basis, but 479 00:25:19,840 --> 00:25:22,480 Speaker 1: it doesn't necessarily mean wait for a seizure, which is 480 00:25:22,520 --> 00:25:26,760 Speaker 1: what you said. Um, it is a seizure basically. Oh really, 481 00:25:26,800 --> 00:25:29,200 Speaker 1: that's how she describes it. H deja vu is a 482 00:25:29,320 --> 00:25:32,920 Speaker 1: simple partial seizure. It can give way to a complex 483 00:25:32,960 --> 00:25:36,199 Speaker 1: partial or generalized seizure, but it doesn't always have to. 484 00:25:36,720 --> 00:25:39,400 Speaker 1: And she is she's pretty amazed by her own epilepsy. 485 00:25:39,480 --> 00:25:43,800 Speaker 1: She and she said, the brain does crazy things when 486 00:25:43,800 --> 00:25:46,440 Speaker 1: it's working normally. Just imagine what it can do when 487 00:25:46,440 --> 00:25:50,000 Speaker 1: it's not. Some of the simple partial seizures I've included 488 00:25:50,680 --> 00:25:56,040 Speaker 1: smelling lavender, deja vu, tunnel vision, sparkly lights, and they 489 00:25:56,080 --> 00:25:59,600 Speaker 1: sometimes but not always, give way to complex partial seizures 490 00:25:59,600 --> 00:26:01,719 Speaker 1: that can leave you drained for quite a while. So 491 00:26:01,760 --> 00:26:06,720 Speaker 1: there's obviously downside. It's not all and lavender. So we 492 00:26:06,760 --> 00:26:09,480 Speaker 1: just want to thank Meg for writing in. And she said, 493 00:26:09,520 --> 00:26:11,520 Speaker 1: one day maybe we can do something on epilepsy. But 494 00:26:11,840 --> 00:26:13,680 Speaker 1: I know eventually we're gonna have a health podcast here, 495 00:26:13,720 --> 00:26:17,640 Speaker 1: so we're probably not allowed the clam burder, but thank 496 00:26:17,680 --> 00:26:19,879 Speaker 1: you Meg for that and good luck with your epilepsy. 497 00:26:19,920 --> 00:26:23,160 Speaker 1: Thanks thanks for sharing Meg, that's pretty pretty cool. Exceptional 498 00:26:23,200 --> 00:26:26,800 Speaker 1: listener mail indeed, Um, if you have anything exceptional to say, 499 00:26:26,920 --> 00:26:28,800 Speaker 1: or you just want to say hi, or you want 500 00:26:28,800 --> 00:26:31,479 Speaker 1: to tell us, UM that we say we interchange iron 501 00:26:31,520 --> 00:26:35,119 Speaker 1: me too much. Actually, not that last one. UM. You 502 00:26:35,200 --> 00:26:39,000 Speaker 1: can send us an email to Stuff Podcast at how 503 00:26:39,040 --> 00:26:44,800 Speaker 1: stuff works dot com For more on this and thousands 504 00:26:44,800 --> 00:26:49,880 Speaker 1: of other topics. Is that how stuff works dot com 505 00:26:50,040 --> 00:26:52,600 Speaker 1: brought to you by the reinvented two thousand twelve camera. 506 00:26:52,920 --> 00:26:54,120 Speaker 1: It's ready, are you