1 00:00:00,240 --> 00:00:04,720 Speaker 1: From UFOs to psychic powers and government conspiracies. History is 2 00:00:04,800 --> 00:00:09,119 Speaker 1: riddled with unexplained events. You can turn back now or 3 00:00:09,200 --> 00:00:12,079 Speaker 1: learn the stuff they don't want you to know. A 4 00:00:12,240 --> 00:00:25,840 Speaker 1: production of My Heart Rating. Hello, welcome back to the show. 5 00:00:26,120 --> 00:00:29,200 Speaker 1: My name is Matt, my name is Noel. They called 6 00:00:29,240 --> 00:00:32,240 Speaker 1: me Ben. We're joined as always with our super producer 7 00:00:32,320 --> 00:00:36,599 Speaker 1: Paul Mission controlled decades. Most importantly, you are you. You 8 00:00:36,680 --> 00:00:40,680 Speaker 1: are here. That makes this the stuff they don't want 9 00:00:40,760 --> 00:00:44,320 Speaker 1: you to know. Crazy stuff is going on in the 10 00:00:44,320 --> 00:00:48,879 Speaker 1: world of crypto. Crazy stuff is going on in space, 11 00:00:49,280 --> 00:00:53,159 Speaker 1: and no On wants to talk about the specifics. Also 12 00:00:53,960 --> 00:00:57,680 Speaker 1: on the heels of our two part series, and the 13 00:00:57,720 --> 00:01:01,640 Speaker 1: problems with federal classification in the US US and the 14 00:01:01,760 --> 00:01:08,160 Speaker 1: rank corruption in background investigations and security clearances. Uh we 15 00:01:08,160 --> 00:01:13,040 Speaker 1: we gotta tell you before NATO invokes Article five and 16 00:01:13,160 --> 00:01:17,080 Speaker 1: before we take some time off for the Thanksgiving holiday, 17 00:01:17,160 --> 00:01:20,760 Speaker 1: still a big deal here in the States. We wanted 18 00:01:20,800 --> 00:01:29,800 Speaker 1: to talk to you a little bit about Team America. Yeah, yes, 19 00:01:30,319 --> 00:01:34,800 Speaker 1: Team America Drug Police also known as the d A 20 00:01:35,200 --> 00:01:40,480 Speaker 1: Miami Division. That's actually what we're gonna be talking about today. Yeah, 21 00:01:40,720 --> 00:01:44,600 Speaker 1: not a crime show, real thing, yep, correct, it does 22 00:01:44,640 --> 00:01:47,240 Speaker 1: feel like a crime show. It is a group of 23 00:01:47,280 --> 00:01:51,680 Speaker 1: individuals calling themselves Team America, and one of the primary 24 00:01:51,720 --> 00:01:56,120 Speaker 1: people in that Team America group is Jose Arizari. It's 25 00:01:56,200 --> 00:02:00,760 Speaker 1: forty six years old as of and um, so, I 26 00:02:00,760 --> 00:02:05,520 Speaker 1: guess he's around forty eight right now. Um In guys, 27 00:02:05,800 --> 00:02:09,200 Speaker 1: he pled guilty to some things so a couple of 28 00:02:09,240 --> 00:02:14,960 Speaker 1: years ago. Uh, some things that are not great honest services, 29 00:02:15,000 --> 00:02:20,959 Speaker 1: wire fraud whatever that is, bank fraud, conspiracy to commit 30 00:02:21,120 --> 00:02:27,920 Speaker 1: money laundering, and aggravated identity theft. Aggravated identity theft that 31 00:02:27,960 --> 00:02:30,760 Speaker 1: I always think of aggravated as like something that happens 32 00:02:30,760 --> 00:02:34,240 Speaker 1: when you're like physically in someone's presence. Yeah, it's just 33 00:02:34,840 --> 00:02:40,120 Speaker 1: it was in a bad mood when he did it. Theft, 34 00:02:40,160 --> 00:02:44,000 Speaker 1: which is like the last four your s s and 35 00:02:44,320 --> 00:02:50,320 Speaker 1: l m AOA yes, well why okay, Well, somebody do 36 00:02:50,440 --> 00:02:52,440 Speaker 1: something really bad. Why are we talking about it? Well? 37 00:02:52,880 --> 00:02:56,640 Speaker 1: Mr Irazari was for a long time a d E 38 00:02:56,840 --> 00:03:01,519 Speaker 1: a agent drug enforcement agent working for the d o 39 00:03:01,639 --> 00:03:07,080 Speaker 1: J and well, he was tasked with doing this very 40 00:03:07,120 --> 00:03:12,560 Speaker 1: specific thing for them, which included money laundering only for 41 00:03:12,680 --> 00:03:17,079 Speaker 1: the government on purpose to try and track down leads 42 00:03:17,160 --> 00:03:21,040 Speaker 1: for the d E. A basically to figure out where 43 00:03:21,080 --> 00:03:23,280 Speaker 1: the money is going into whom and what are the 44 00:03:23,360 --> 00:03:25,880 Speaker 1: channels that money is getting to places where it's supposed 45 00:03:25,880 --> 00:03:30,480 Speaker 1: to go according to the bad guys. Okay, well, uh. 46 00:03:30,520 --> 00:03:35,400 Speaker 1: Since January of this year, Mr Irazari has been in 47 00:03:35,520 --> 00:03:41,120 Speaker 1: prison at the Federal Correction Institution Miami. And right before 48 00:03:41,240 --> 00:03:44,120 Speaker 1: he went into prison for those charges we talked about, 49 00:03:44,160 --> 00:03:48,000 Speaker 1: including conspiracy to commit money laundering, he had a little 50 00:03:48,040 --> 00:03:53,680 Speaker 1: talk with the Associated Press and he was very forthcoming, 51 00:03:54,800 --> 00:03:59,280 Speaker 1: we should say, I think he talked about what he 52 00:03:59,320 --> 00:04:02,560 Speaker 1: got in trouble for. He sounded, at least in the 53 00:04:02,640 --> 00:04:07,240 Speaker 1: video interview the portion that I have seen, like he 54 00:04:07,320 --> 00:04:10,440 Speaker 1: is genuinely remorseful for what he did. I'm gonna give 55 00:04:10,440 --> 00:04:13,440 Speaker 1: you a quote. I can't justify my actions. I should 56 00:04:13,440 --> 00:04:15,760 Speaker 1: have known. I knew what was right from wrong, and 57 00:04:15,800 --> 00:04:19,080 Speaker 1: I chose wrong many times. That's why I'm here again. 58 00:04:19,120 --> 00:04:23,080 Speaker 1: This is literally right before he went in to the prison, 59 00:04:23,200 --> 00:04:25,159 Speaker 1: like he took himself there to go to the prison 60 00:04:25,520 --> 00:04:30,200 Speaker 1: twelve years, right for twelve years starting this year. Um, 61 00:04:30,480 --> 00:04:33,720 Speaker 1: he basically came out guys and said this was not 62 00:04:33,839 --> 00:04:37,320 Speaker 1: just him doing this whole money laundering thing. We're gonna 63 00:04:37,360 --> 00:04:39,080 Speaker 1: give you some more of the details here in a second. 64 00:04:39,480 --> 00:04:43,360 Speaker 1: This was basically the d e A. This was the 65 00:04:43,400 --> 00:04:46,960 Speaker 1: whole Team America group. This was everybody. They're all in 66 00:04:47,040 --> 00:04:50,560 Speaker 1: on it, just taking money off the top basically of 67 00:04:50,680 --> 00:04:54,159 Speaker 1: this money they were laundering legally the way they well, 68 00:04:54,200 --> 00:04:56,080 Speaker 1: I guess the way they were supposed to do for 69 00:04:56,120 --> 00:04:59,760 Speaker 1: their investigations. Uh. And they were just using it and 70 00:04:59,800 --> 00:05:02,800 Speaker 1: he was all one big game. He actually calls the 71 00:05:02,920 --> 00:05:07,240 Speaker 1: entire drug war a game, a fun game and unwinnable. 72 00:05:07,279 --> 00:05:12,440 Speaker 1: I believe right, that's correct. Mat. I'm so glad we're 73 00:05:12,480 --> 00:05:15,360 Speaker 1: talking about this when this is one of those uh, 74 00:05:15,400 --> 00:05:18,840 Speaker 1: one of those things where we see his story and 75 00:05:18,960 --> 00:05:22,200 Speaker 1: post it in a in our in our group chat, 76 00:05:22,480 --> 00:05:27,039 Speaker 1: you know, uh, and and say what about this? You 77 00:05:27,080 --> 00:05:29,800 Speaker 1: know what what's going on? And we take the time 78 00:05:29,920 --> 00:05:33,720 Speaker 1: to like vet this and make sure it's not just 79 00:05:33,960 --> 00:05:36,760 Speaker 1: an ephemeral headline. But as you found, there's a lot 80 00:05:36,800 --> 00:05:41,359 Speaker 1: of history leading to this moment and this incredibly candid interview. 81 00:05:41,640 --> 00:05:43,960 Speaker 1: Oh yeah, there's a ton building up to this. So 82 00:05:44,120 --> 00:05:47,039 Speaker 1: Mr Irizari has been employed by the d e A 83 00:05:47,160 --> 00:05:50,919 Speaker 1: since two thousand nine, and a little something happened to 84 00:05:51,000 --> 00:05:55,200 Speaker 1: him personally in two thousand ten is something unfortunate happens 85 00:05:55,240 --> 00:05:57,680 Speaker 1: to a lot of people. He had to file for 86 00:05:57,920 --> 00:06:01,360 Speaker 1: personal bankruptcy, but it was to the tune of around 87 00:06:01,400 --> 00:06:06,080 Speaker 1: half a million dollars. And apparently immediately following this event, 88 00:06:06,600 --> 00:06:08,800 Speaker 1: when this whole scheme to divert funds from the d 89 00:06:08,839 --> 00:06:11,920 Speaker 1: e A money laundering operation into his own personal bank 90 00:06:11,960 --> 00:06:16,760 Speaker 1: accounts started, when it became a thing he, according to 91 00:06:16,880 --> 00:06:18,960 Speaker 1: the d o J in a statement they put out 92 00:06:19,000 --> 00:06:24,880 Speaker 1: on December nine, Mr Irazari quote used his position as 93 00:06:24,880 --> 00:06:29,040 Speaker 1: a special agent to divert approximately nine million dollars from 94 00:06:29,120 --> 00:06:33,120 Speaker 1: undercover d e A money laundering investigations to himself and 95 00:06:33,720 --> 00:06:38,000 Speaker 1: two co conspirators. Nat, could you tell us a little 96 00:06:38,000 --> 00:06:41,480 Speaker 1: bit more about these co conspirators. Were they all d 97 00:06:41,520 --> 00:06:45,320 Speaker 1: e A. Well, some of them were supposedly d e A. 98 00:06:45,520 --> 00:06:50,160 Speaker 1: Some of them were um agents slash law enforcement officers 99 00:06:50,200 --> 00:06:54,320 Speaker 1: in other countries where this operation was occurring, and a 100 00:06:54,360 --> 00:06:57,520 Speaker 1: few of them were not law enforcement at all. They 101 00:06:57,520 --> 00:07:00,280 Speaker 1: were actually part of the cartels that they were, you know, 102 00:07:00,640 --> 00:07:05,799 Speaker 1: laundering money for. Again, it's the d A laundering money 103 00:07:05,839 --> 00:07:10,560 Speaker 1: for the cartels. As an investigation, that's still like wrapping 104 00:07:10,560 --> 00:07:13,200 Speaker 1: my head around it. I am Jack's lack of surprise. 105 00:07:13,600 --> 00:07:16,960 Speaker 1: You know, not not to sound too cynical that this 106 00:07:16,960 --> 00:07:21,320 Speaker 1: this story stands out because you know, these these three 107 00:07:21,360 --> 00:07:26,440 Speaker 1: stories are all spoiler alert folks, um entire episodes. These 108 00:07:26,440 --> 00:07:29,120 Speaker 1: are episodes. Yeah, this is definitely a full episode. I'm 109 00:07:29,120 --> 00:07:30,640 Speaker 1: gonna give you a tiny bit more from the d 110 00:07:30,880 --> 00:07:32,720 Speaker 1: J statement just so we all kind of have an 111 00:07:32,760 --> 00:07:35,920 Speaker 1: understanding of what was really occurring. So that was the 112 00:07:36,000 --> 00:07:39,880 Speaker 1: nine There's that nine million dollars that he diverted, Okay, 113 00:07:40,760 --> 00:07:43,720 Speaker 1: and he wasn't diverting that for himself. He didn't just 114 00:07:43,760 --> 00:07:46,760 Speaker 1: take nine million dollars. What he did do, though, was 115 00:07:46,840 --> 00:07:50,520 Speaker 1: received bribes and kickbacks worth at least a million dollars 116 00:07:50,600 --> 00:07:54,600 Speaker 1: for himself and his family, including his wife, and that 117 00:07:54,680 --> 00:07:58,080 Speaker 1: was used to purchase a thirty thousand dollar ring from 118 00:07:58,120 --> 00:08:02,080 Speaker 1: Tiffany's pretty nice luxury cars a bunch of I think 119 00:08:02,120 --> 00:08:05,800 Speaker 1: they're land Rovers and I think they're even two Lamborghinis 120 00:08:05,840 --> 00:08:10,120 Speaker 1: involved to the tune of around three grand apiece um. 121 00:08:10,160 --> 00:08:12,200 Speaker 1: And to carry out this scheme, according to the d 122 00:08:12,320 --> 00:08:16,120 Speaker 1: o J, this dude and his co conspirators quote used 123 00:08:16,720 --> 00:08:20,640 Speaker 1: a stolen identity to open a bank account under false pretenses. 124 00:08:21,080 --> 00:08:24,880 Speaker 1: And then utilize that account to receive diverted drug proceeds. 125 00:08:25,760 --> 00:08:29,480 Speaker 1: And the scheme lasted throughout all of his assignments. Basically 126 00:08:29,840 --> 00:08:33,679 Speaker 1: in that Miami Field Division, the Team America Division over 127 00:08:33,720 --> 00:08:37,560 Speaker 1: there really messed up, guys. And um, you gotta watch 128 00:08:37,600 --> 00:08:40,400 Speaker 1: the video of this interview. I found a really good 129 00:08:40,520 --> 00:08:45,800 Speaker 1: link on USA today. You can just search for x 130 00:08:45,880 --> 00:08:48,400 Speaker 1: d E a agent. That's probably the fastest way to 131 00:08:48,440 --> 00:08:51,680 Speaker 1: get it. Uh, it's only about five and a half minutes, 132 00:08:52,080 --> 00:08:54,680 Speaker 1: and it's produced by the AP. I believe, yes, it 133 00:08:54,760 --> 00:08:59,839 Speaker 1: is the AP. And just to hear him talk about 134 00:08:59,840 --> 00:09:02,680 Speaker 1: this stuff, he said, it was all about drinking, oh 135 00:09:02,720 --> 00:09:07,080 Speaker 1: and the girls, and uh, there was some soccer involved 136 00:09:07,120 --> 00:09:12,320 Speaker 1: in football. Uh, they would like travel the world following 137 00:09:12,360 --> 00:09:17,840 Speaker 1: this football team and they would like make false assignments basically, 138 00:09:17,840 --> 00:09:21,120 Speaker 1: so they had to travel he and his quote co conspirators. 139 00:09:21,160 --> 00:09:23,199 Speaker 1: So they have to travel to a certain place where 140 00:09:23,320 --> 00:09:25,440 Speaker 1: one of these football matches was going on, so they 141 00:09:25,440 --> 00:09:27,880 Speaker 1: could go to the football match and not really do 142 00:09:27,960 --> 00:09:30,719 Speaker 1: any work, uh, and just hang out and have a 143 00:09:30,800 --> 00:09:35,000 Speaker 1: lavish lifestyle. Now, this is where we get to some 144 00:09:35,080 --> 00:09:37,640 Speaker 1: of the questions. One of one of the things that 145 00:09:38,080 --> 00:09:41,920 Speaker 1: a lot of people are gonna wonder about is his 146 00:09:42,240 --> 00:09:47,319 Speaker 1: motivation right? Was? It clearly wasn't all At some point 147 00:09:47,320 --> 00:09:52,319 Speaker 1: it wasn't all financial necessity. I mean, we're flexing, we're 148 00:09:52,360 --> 00:09:56,840 Speaker 1: buying exotic cars, we're going to far flung locations, we're 149 00:09:56,880 --> 00:10:01,240 Speaker 1: making its rain. Uh. This isn't the same thing as 150 00:10:01,360 --> 00:10:07,319 Speaker 1: someone committing financial crime to pay for you know, cancer 151 00:10:07,360 --> 00:10:11,120 Speaker 1: treatment or something. Uh. Not. One thing that stood out 152 00:10:11,160 --> 00:10:13,680 Speaker 1: to me, at least when I first found this ap 153 00:10:13,840 --> 00:10:20,679 Speaker 1: news was his his statement about a sort of nihilism 154 00:10:22,360 --> 00:10:26,600 Speaker 1: in the d e a entire what what was his 155 00:10:27,559 --> 00:10:29,319 Speaker 1: I don't know. Do you feel like it's a rationale 156 00:10:29,760 --> 00:10:32,960 Speaker 1: that he's using a rationalization or what would you say? 157 00:10:33,120 --> 00:10:35,440 Speaker 1: It's tough to tell because you're talking about someone that 158 00:10:35,520 --> 00:10:38,880 Speaker 1: was in a real tough spot personally filing for bankruptcy 159 00:10:38,960 --> 00:10:41,160 Speaker 1: for that amount of money, and then he found a 160 00:10:41,160 --> 00:10:44,920 Speaker 1: way potentially to you know, get some of that money 161 00:10:44,920 --> 00:10:51,079 Speaker 1: back and not feel like a failure right economically, um, 162 00:10:51,120 --> 00:10:53,640 Speaker 1: which is a you know, something that all of us fight. 163 00:10:54,280 --> 00:10:56,520 Speaker 1: You want to feel like you're being able to provide 164 00:10:56,559 --> 00:10:59,480 Speaker 1: for yourself and your family, and if you can't, I'm 165 00:10:59,480 --> 00:11:02,640 Speaker 1: talking to mentally like what that does to you? And 166 00:11:02,679 --> 00:11:05,280 Speaker 1: if he found a place an outlet to make some 167 00:11:05,360 --> 00:11:10,440 Speaker 1: easy money in the way that he was. Um, I 168 00:11:10,480 --> 00:11:12,800 Speaker 1: don't know, it feels it feels like a no brainer 169 00:11:12,800 --> 00:11:15,440 Speaker 1: for somebody going through a really tough time like that. 170 00:11:15,800 --> 00:11:17,680 Speaker 1: I don't know, what do you guys think. I feel 171 00:11:17,720 --> 00:11:20,480 Speaker 1: like almost anybody could be corrupted if you were in 172 00:11:20,559 --> 00:11:25,280 Speaker 1: that specific situation, and then your rationale would be would 173 00:11:25,320 --> 00:11:27,680 Speaker 1: be to make sense of what you did. That's the 174 00:11:27,760 --> 00:11:30,640 Speaker 1: human thing to want to do. Nobody wants to feel 175 00:11:30,640 --> 00:11:33,640 Speaker 1: like a bad guy, you know. I mean, I think it's, uh, 176 00:11:33,760 --> 00:11:35,800 Speaker 1: it's only natural. But at the end of the day, 177 00:11:36,160 --> 00:11:38,839 Speaker 1: you did what you did, and you have to kind 178 00:11:38,840 --> 00:11:42,200 Speaker 1: of own up to it, whatever your quote unquote intentions 179 00:11:42,240 --> 00:11:45,359 Speaker 1: might have been. Again, people find their morality in retrospect. 180 00:11:46,280 --> 00:11:51,120 Speaker 1: It's it's strange though, like his primary issue is uh. 181 00:11:51,440 --> 00:11:55,880 Speaker 1: One thing that stands out is his primary I guess 182 00:11:55,920 --> 00:12:01,439 Speaker 1: objection seems to be that he feels his former employers 183 00:12:01,520 --> 00:12:06,600 Speaker 1: are painting him as a singular supervillain a Walter White 184 00:12:06,600 --> 00:12:11,199 Speaker 1: to Gus Freeing. When he is saying this is systemic 185 00:12:11,440 --> 00:12:16,320 Speaker 1: and structural, what was he saying that this was sort 186 00:12:16,360 --> 00:12:19,320 Speaker 1: of dancing on the grave of the drug war? Like 187 00:12:19,440 --> 00:12:22,600 Speaker 1: a lot of d e A. Agents said, Hey, we 188 00:12:22,640 --> 00:12:25,640 Speaker 1: can't really stop the flow. There's no way to put 189 00:12:25,640 --> 00:12:29,079 Speaker 1: a dent in this thing. We're just gonna make use 190 00:12:29,120 --> 00:12:31,960 Speaker 1: of the copious amount of money that gets thrown around 191 00:12:32,040 --> 00:12:36,000 Speaker 1: in this and we're never gonna stop what's happening. But 192 00:12:36,280 --> 00:12:39,319 Speaker 1: let's just let's take advantage of it. Basically. Yeah, and 193 00:12:39,320 --> 00:12:42,040 Speaker 1: and like you said, it's everybody he's he's calling out 194 00:12:42,040 --> 00:12:44,080 Speaker 1: a bunch of people. I don't have a huge list 195 00:12:44,120 --> 00:12:47,800 Speaker 1: of names. Maybe we can incorporate that into a full episode, 196 00:12:47,840 --> 00:12:50,760 Speaker 1: like who are the other people? Um, but you know, 197 00:12:50,840 --> 00:12:53,439 Speaker 1: this guy did plead guilty and he is in jail. 198 00:12:53,720 --> 00:12:56,040 Speaker 1: So that's I think why we feel the most comfortable 199 00:12:56,200 --> 00:12:59,000 Speaker 1: talking about him. Uh, there are names that you can 200 00:12:59,040 --> 00:13:05,760 Speaker 1: find that he is discussed. UM, probably wouldn't wouldn't name 201 00:13:05,800 --> 00:13:10,320 Speaker 1: them right now though, Yeah, alleged or accused by him, 202 00:13:10,520 --> 00:13:15,959 Speaker 1: but to our knowledge at this point, not officially accused 203 00:13:16,600 --> 00:13:21,040 Speaker 1: by government body in the US or abroad. I think 204 00:13:21,160 --> 00:13:22,800 Speaker 1: is the way we put it. I'll give you the 205 00:13:22,920 --> 00:13:29,520 Speaker 1: Drug Enforcement Administration's statement quote, Jose Rizari is a criminal 206 00:13:29,600 --> 00:13:32,200 Speaker 1: who violated his oath as a federal law enforcement officer 207 00:13:32,240 --> 00:13:35,120 Speaker 1: and violated the trust of the American people. Over the 208 00:13:35,160 --> 00:13:39,160 Speaker 1: past sixteen months, DA has worked vigorously to further strengthen 209 00:13:39,160 --> 00:13:43,240 Speaker 1: our discipline and hiring practices to ensure the integrity and 210 00:13:43,280 --> 00:13:47,520 Speaker 1: effectiveness of our essential work. I guess you just have 211 00:13:47,640 --> 00:13:51,800 Speaker 1: to decide if, uh, if you've believe the d A 212 00:13:52,040 --> 00:13:54,760 Speaker 1: or you believe this one guy who got caught doing 213 00:13:54,760 --> 00:13:57,920 Speaker 1: what he wasn't supposed to do. It's tough, right, who 214 00:13:57,960 --> 00:14:00,400 Speaker 1: do you believe? I don't know. I want to say 215 00:14:00,440 --> 00:14:10,920 Speaker 1: the administration, but yeah, because if it's systemic, If it's systemic, 216 00:14:10,920 --> 00:14:14,640 Speaker 1: and this is not a legal accusation here, folks were 217 00:14:14,640 --> 00:14:18,360 Speaker 1: a podcast, But if it is systemic, then that clearly 218 00:14:18,440 --> 00:14:21,320 Speaker 1: opens the door for a little bit of c y 219 00:14:21,480 --> 00:14:24,320 Speaker 1: a on the part of the people who didn't get caught, 220 00:14:24,800 --> 00:14:29,200 Speaker 1: people further up the chain. You know, a government loves escapegoat, 221 00:14:29,320 --> 00:14:32,200 Speaker 1: always has well. And also it seems to me that 222 00:14:32,240 --> 00:14:35,240 Speaker 1: when someone's backed into a corner in that way, one 223 00:14:35,280 --> 00:14:39,080 Speaker 1: way out is to tell the truth. I mean, there 224 00:14:39,200 --> 00:14:41,080 Speaker 1: is sort of like, you know, you can obviously keep 225 00:14:41,160 --> 00:14:43,640 Speaker 1: lying and lying and lying, but that usually doesn't work 226 00:14:43,680 --> 00:14:47,080 Speaker 1: and just worsens your position. So I do tend to 227 00:14:47,160 --> 00:14:49,760 Speaker 1: believe the person that's backed into the corner in this 228 00:14:49,800 --> 00:14:54,720 Speaker 1: situation because they might be trying to clear the air 229 00:14:54,960 --> 00:14:57,560 Speaker 1: or clear their name by you know, maybe bringing some 230 00:14:57,600 --> 00:15:01,360 Speaker 1: other folks down with them. It's possible. I don't know. 231 00:15:01,800 --> 00:15:04,720 Speaker 1: This guy, by the way, was, according to everyone who 232 00:15:04,720 --> 00:15:08,880 Speaker 1: worked with him before he got in trouble, a model agent, 233 00:15:09,120 --> 00:15:12,680 Speaker 1: like somebody who would win awards, somebody who was like, 234 00:15:13,440 --> 00:15:16,160 Speaker 1: you know, his bosses would be like, oh, manse as 235 00:15:16,240 --> 00:15:20,040 Speaker 1: just really good at what he does. I guess he 236 00:15:20,160 --> 00:15:22,400 Speaker 1: was just too good. Look, here's the moral of the story. 237 00:15:22,440 --> 00:15:26,000 Speaker 1: In my mind, Guy's money in this world as it 238 00:15:26,080 --> 00:15:28,880 Speaker 1: functions right now is the great motivator, no matter what 239 00:15:29,040 --> 00:15:31,000 Speaker 1: it is, the great motivator. And if you want to 240 00:15:31,080 --> 00:15:34,240 Speaker 1: motivate someone to do something right, no matter what it is, 241 00:15:34,640 --> 00:15:37,640 Speaker 1: make sure you pay them and pay them well, or 242 00:15:38,240 --> 00:15:43,960 Speaker 1: somebody tied to their pay you know, like like there's accountability. Yeah, yeah, 243 00:15:44,080 --> 00:15:47,600 Speaker 1: something like that maybe, because if basically what I want 244 00:15:47,640 --> 00:15:49,560 Speaker 1: to say is if you don't pay somebody well enough, 245 00:15:49,960 --> 00:15:52,760 Speaker 1: somebody else will pay them, Especially if you're talking about 246 00:15:52,800 --> 00:15:56,200 Speaker 1: law enforcement in any capacity. I mean, look at the 247 00:15:56,320 --> 00:15:59,600 Speaker 1: problems that happened with moonlighting. You know, I agree with 248 00:15:59,680 --> 00:16:02,640 Speaker 1: you whole heartedly. Matt. I would even say, I would 249 00:16:02,680 --> 00:16:06,320 Speaker 1: even take it a step further and recommend that everybody 250 00:16:06,400 --> 00:16:11,320 Speaker 1: watch uh some excellent TED talks and serious research into 251 00:16:11,560 --> 00:16:15,480 Speaker 1: the threshold at which money buys happiness. It's a very 252 00:16:15,680 --> 00:16:19,440 Speaker 1: true thing, and studies have showed, at least in the West, uh, 253 00:16:19,600 --> 00:16:22,360 Speaker 1: pretty specific number. We talked about this in a in 254 00:16:22,440 --> 00:16:26,880 Speaker 1: another show earlier, somewhere between seventy to seventy two dollars. 255 00:16:27,640 --> 00:16:29,800 Speaker 1: And that's why we need to pay teachers more across 256 00:16:29,840 --> 00:16:32,840 Speaker 1: the board. Hey, let's do it. Then the judges are 257 00:16:32,880 --> 00:16:37,200 Speaker 1: making more than the teachers. Let's go, let's go, let's do. Uh. 258 00:16:38,040 --> 00:16:42,080 Speaker 1: One other moral to the story, never ever, ever, under 259 00:16:42,160 --> 00:16:45,480 Speaker 1: any circumstance, no matter how awesome and stacked you are 260 00:16:45,960 --> 00:16:48,880 Speaker 1: by a Lamborghini, now, just don't do it. Just don't 261 00:16:48,920 --> 00:16:51,520 Speaker 1: do it. That's how that's one of the reasons that 262 00:16:51,640 --> 00:16:54,080 Speaker 1: he got caught. It's because somebody that was working with 263 00:16:54,320 --> 00:16:58,280 Speaker 1: him bought a three thousand dollar Lamborghini, and he also 264 00:16:58,400 --> 00:17:00,680 Speaker 1: had a three dollar lambor Ghini, and it was like 265 00:17:00,720 --> 00:17:03,200 Speaker 1: the same they connect. They made a connection between the 266 00:17:03,320 --> 00:17:09,440 Speaker 1: Lamborghini's and they all roughly know within arrange how how 267 00:17:09,560 --> 00:17:13,840 Speaker 1: much each person makes officially that's that's that's the other thing. 268 00:17:13,960 --> 00:17:18,960 Speaker 1: Don't be conspicuous, learn from learn from Jimmy Buffett. Wait 269 00:17:19,000 --> 00:17:25,520 Speaker 1: here you go, Jimmy Buffett or Warren Buffett. Jimmy Buffet, 270 00:17:29,640 --> 00:17:32,399 Speaker 1: Jimmy Buffet the type to buy like a parrot colored 271 00:17:32,520 --> 00:17:37,399 Speaker 1: Lamborghini disregarded. I thought maybe there was some scandal with 272 00:17:37,520 --> 00:17:40,840 Speaker 1: Jimmy Buffett that I was not aware of. The agent 273 00:17:40,960 --> 00:17:44,800 Speaker 1: Jim Well, Lamborghini's are like, you know, in the same 274 00:17:44,840 --> 00:17:47,959 Speaker 1: way that like a really you know, pricey red sports 275 00:17:48,040 --> 00:17:52,119 Speaker 1: car is a cop magnet on the street. It's also 276 00:17:52,720 --> 00:17:55,960 Speaker 1: like a magnet for eyes on you and your business 277 00:17:56,520 --> 00:17:58,840 Speaker 1: and your finances. If you buy that and you maybe 278 00:17:58,920 --> 00:18:02,480 Speaker 1: aren't they a person that on paper should be able 279 00:18:02,520 --> 00:18:05,040 Speaker 1: to buy that, then that is a massive red flag 280 00:18:05,640 --> 00:18:09,120 Speaker 1: and no offense. Lamborghini, It's incredible vehicles that you make. Man, 281 00:18:09,560 --> 00:18:12,000 Speaker 1: it's just a It's a lot of money for a car. 282 00:18:12,960 --> 00:18:16,000 Speaker 1: I wondered, is that like officially the priceiest car? I thought, McLaren, 283 00:18:16,200 --> 00:18:21,880 Speaker 1: Maybe no, there are much more. I thought, that's like attainable, 284 00:18:22,119 --> 00:18:23,720 Speaker 1: Like I've got so much money, but I'm not gonna 285 00:18:23,760 --> 00:18:27,320 Speaker 1: waste my million that I just made, you know, but 286 00:18:27,440 --> 00:18:32,560 Speaker 1: I don't mind dropping, you know, three thousand dollars. But 287 00:18:33,320 --> 00:18:36,080 Speaker 1: it's short money. It's that's short thought to think of 288 00:18:36,119 --> 00:18:42,560 Speaker 1: the maintenance. Do you have to ultimately have a subscription 289 00:18:42,800 --> 00:18:44,879 Speaker 1: for the maintenance like it's I mean, it's essentially like 290 00:18:44,960 --> 00:18:48,320 Speaker 1: a whole another you know, line item on on on 291 00:18:48,520 --> 00:18:52,040 Speaker 1: the cost of ownership. We're gonna talk about cars this 292 00:18:52,160 --> 00:18:55,280 Speaker 1: week to drive it off that lot. Baby, I was 293 00:18:55,359 --> 00:18:59,440 Speaker 1: taking trash on Twitter earlier. You guys, I've just full confession, 294 00:19:00,000 --> 00:19:03,640 Speaker 1: have been slamming iced coffee at advance of this listener mail. 295 00:19:03,840 --> 00:19:06,040 Speaker 1: We got. It's going to be a ride, but a 296 00:19:06,200 --> 00:19:10,560 Speaker 1: legal one in our case. M exciting stuff. All right, 297 00:19:10,680 --> 00:19:12,360 Speaker 1: that's all. For now, we need to do an entire 298 00:19:12,440 --> 00:19:16,040 Speaker 1: episode on the d e A and that undercover money 299 00:19:16,119 --> 00:19:18,200 Speaker 1: laundering thing, because I haven't wrapped in my head fully 300 00:19:18,200 --> 00:19:19,879 Speaker 1: around it yet, and I think we all need to. 301 00:19:21,920 --> 00:19:24,280 Speaker 1: So for now, we will hear a word from our 302 00:19:24,320 --> 00:19:34,400 Speaker 1: sponsor and we'll be right back. And we've returned. Uh, 303 00:19:35,160 --> 00:19:38,800 Speaker 1: it's been a minute since we talked about crypto currency. 304 00:19:40,000 --> 00:19:42,600 Speaker 1: I think there might have been some crypto fatigue for 305 00:19:42,640 --> 00:19:44,520 Speaker 1: a while because there were so many you know, kind 306 00:19:44,560 --> 00:19:47,639 Speaker 1: of ponzi schemes and sort of more you know, niche 307 00:19:48,240 --> 00:19:50,960 Speaker 1: kind of conspiracies wrapped up in crypto because of the 308 00:19:51,040 --> 00:19:54,200 Speaker 1: lack of regulation and just the ability to kind of 309 00:19:54,320 --> 00:19:57,080 Speaker 1: do all this sort of like dark web kind of trading, 310 00:19:57,320 --> 00:20:00,359 Speaker 1: you know, these projects and all of that stuff and um. 311 00:20:00,520 --> 00:20:03,520 Speaker 1: But through all of that, you know, the niche elements 312 00:20:03,560 --> 00:20:06,200 Speaker 1: of crypto, there were kind of some big players. We know, 313 00:20:07,200 --> 00:20:09,400 Speaker 1: way back at the beginning of crypto, or at least 314 00:20:09,400 --> 00:20:12,560 Speaker 1: the beginning of of my knowledge of crypto. Uh, there 315 00:20:12,720 --> 00:20:16,400 Speaker 1: was a massive hack of a crypto exchange called mount 316 00:20:16,520 --> 00:20:20,399 Speaker 1: Gox that was a huge red flag and it seem okay, 317 00:20:20,520 --> 00:20:23,399 Speaker 1: we learned our lesson here from Mount Cox. We're not 318 00:20:23,400 --> 00:20:26,960 Speaker 1: gonna let that happen again. Uh. Crypto exchange, by the way, 319 00:20:27,200 --> 00:20:29,360 Speaker 1: is just literally kind of what it sounds like. It's 320 00:20:29,400 --> 00:20:33,159 Speaker 1: a proprietary network, you know, kind of like a stock market, 321 00:20:33,400 --> 00:20:37,400 Speaker 1: you know, where crypto can be exchanged, you know, bought 322 00:20:37,480 --> 00:20:41,760 Speaker 1: and sold and turned into other tokens, other coins, what 323 00:20:41,880 --> 00:20:44,760 Speaker 1: have you. Um. One of the two two of the 324 00:20:44,840 --> 00:20:49,680 Speaker 1: biggest crypto exchanges are something called f t X just 325 00:20:49,840 --> 00:20:54,040 Speaker 1: what today's stories about, and another one called Finance Finance 326 00:20:54,080 --> 00:20:56,200 Speaker 1: being the biggest one I believe f t X being 327 00:20:56,280 --> 00:20:59,880 Speaker 1: the second biggest one or very close, and these two 328 00:21:00,080 --> 00:21:04,680 Speaker 1: players are entrenched in this story. Essentially f t X 329 00:21:05,480 --> 00:21:08,480 Speaker 1: was trying to do and it's CEO a guy named 330 00:21:08,680 --> 00:21:11,960 Speaker 1: Um always got a great name with nominal determinism. His 331 00:21:12,200 --> 00:21:18,320 Speaker 1: name is Sam Bankman fried Um SPF. For sure, let's 332 00:21:18,359 --> 00:21:22,119 Speaker 1: just call him SPF. Sam Bankman fried Um the former 333 00:21:22,440 --> 00:21:26,119 Speaker 1: billionaire UH and founder of f t X, the crypto 334 00:21:26,200 --> 00:21:32,240 Speaker 1: exchange UM. He and the CEO of Finance, which is 335 00:21:32,400 --> 00:21:35,760 Speaker 1: the largest crypto exchange, are kind of the two main 336 00:21:35,840 --> 00:21:39,639 Speaker 1: players in today's story, but Mr Bankman fried being the 337 00:21:40,040 --> 00:21:43,240 Speaker 1: most important one. So f t X and Finance have 338 00:21:43,520 --> 00:21:47,879 Speaker 1: really been trying to kind of legitimize cryptocurrency. I think 339 00:21:47,920 --> 00:21:51,000 Speaker 1: because of things like you know and f t S. 340 00:21:51,280 --> 00:21:55,240 Speaker 1: A lot of the kind of sentiment from regular folks 341 00:21:55,400 --> 00:21:58,159 Speaker 1: has been that cryptocurrency is is a scam, is a 342 00:21:58,200 --> 00:22:03,800 Speaker 1: fly by night sort of UH Ponzi scheme esque situation, 343 00:22:04,000 --> 00:22:06,560 Speaker 1: and so I think understandably folks have been a little 344 00:22:06,560 --> 00:22:09,040 Speaker 1: bit skeptical about it. But the folks that are really 345 00:22:09,160 --> 00:22:11,639 Speaker 1: into it, and I think we all probably know some 346 00:22:11,720 --> 00:22:15,400 Speaker 1: of those folks. Um. I believe in the long term, 347 00:22:15,600 --> 00:22:19,320 Speaker 1: you know, uh, promise of of crypto and believe that 348 00:22:19,440 --> 00:22:22,200 Speaker 1: it will potentially just keep growing and growing and growing. 349 00:22:22,680 --> 00:22:26,800 Speaker 1: We have recently had several crashes kind of corrections, they 350 00:22:26,880 --> 00:22:28,879 Speaker 1: call it, like you do with the stock market, but 351 00:22:29,080 --> 00:22:34,080 Speaker 1: this one is triggered by the issues of a single company, 352 00:22:34,160 --> 00:22:38,920 Speaker 1: a single exchange f t X. So essentially overnight um 353 00:22:39,080 --> 00:22:44,000 Speaker 1: f t X has gone bankrupt, not overnight, but then 354 00:22:44,040 --> 00:22:46,720 Speaker 1: in the last week f t X has gone bankrupt 355 00:22:46,920 --> 00:22:50,360 Speaker 1: and the founder, as I said, Mr Bankman Fried, it's 356 00:22:50,400 --> 00:22:55,760 Speaker 1: gone from holding billions in crypto assets to essentially being broke, 357 00:22:56,520 --> 00:22:59,800 Speaker 1: like broke broke um. And this company relocated to the 358 00:23:00,080 --> 00:23:04,920 Speaker 1: Hammas uh not terribly long ago, largely, it would seem, 359 00:23:05,040 --> 00:23:10,359 Speaker 1: because of easier, lighter, lacks er regulations there. But they 360 00:23:10,440 --> 00:23:13,840 Speaker 1: do still hold a division that's in the US. And uh, 361 00:23:14,080 --> 00:23:18,080 Speaker 1: this gentleman, Mr Bankman Fried has been pretty vocal about 362 00:23:18,680 --> 00:23:22,760 Speaker 1: regulations and has even been kind of the like public 363 00:23:22,920 --> 00:23:27,920 Speaker 1: facing kind of you know, reputable businessman of crypto and 364 00:23:28,080 --> 00:23:31,800 Speaker 1: you know, appeared in various Senate hearings and all of 365 00:23:31,840 --> 00:23:34,680 Speaker 1: that stuff and trying to say, well, we we we 366 00:23:34,760 --> 00:23:37,720 Speaker 1: do need some regulation and but but maybe not what 367 00:23:37,880 --> 00:23:40,760 Speaker 1: you're thinking there let me help you, help me, help 368 00:23:40,840 --> 00:23:44,960 Speaker 1: you to make these regulations more equitable and uh have 369 00:23:45,200 --> 00:23:48,080 Speaker 1: you know, crypto become a part of the kind of 370 00:23:48,160 --> 00:23:53,040 Speaker 1: more mainstream economy of the United States, and f t 371 00:23:53,400 --> 00:23:57,440 Speaker 1: X has gone to great lengths with marketing efforts to 372 00:23:57,640 --> 00:24:01,000 Speaker 1: really solidify their you know, immit as this kind of 373 00:24:01,160 --> 00:24:08,040 Speaker 1: you know, very legitimate UM cryptocurrency exchange they UM sponsored. 374 00:24:08,240 --> 00:24:12,040 Speaker 1: I think in California, cal Athletics that you see Berkeley 375 00:24:12,400 --> 00:24:17,359 Speaker 1: UM renamed their stadium f t X Stadium. I believe 376 00:24:17,400 --> 00:24:21,440 Speaker 1: there's another one with the professional NBA team, or maybe 377 00:24:21,440 --> 00:24:23,480 Speaker 1: it was NFL for giving me from missing some of 378 00:24:23,560 --> 00:24:27,040 Speaker 1: the minutia here. UM also again sort of like crypto 379 00:24:27,160 --> 00:24:30,199 Speaker 1: dot com, there's sort of at that level. I believe 380 00:24:30,560 --> 00:24:34,320 Speaker 1: the Staples Center was renamed the Crypto dot Com Arena 381 00:24:34,480 --> 00:24:37,080 Speaker 1: or what have you. Uh so really big kind of 382 00:24:37,320 --> 00:24:40,960 Speaker 1: you know, public facing marketing efforts. For example, during the 383 00:24:41,040 --> 00:24:44,720 Speaker 1: last Super Bowl, there were some commercials for ft X, 384 00:24:44,800 --> 00:24:48,080 Speaker 1: one of which had Larry David, uh one of my 385 00:24:48,200 --> 00:24:52,200 Speaker 1: favorite you know comedians and writers and comics, traveling through 386 00:24:52,280 --> 00:24:55,520 Speaker 1: time and kind of shilling for f t X in 387 00:24:55,600 --> 00:24:58,239 Speaker 1: this kind of comical ad um that obviously was very 388 00:24:58,320 --> 00:25:00,480 Speaker 1: very expensive. It made a lot of buzz because it 389 00:25:00,600 --> 00:25:03,560 Speaker 1: was like crypto is finally arrived their advertising on the 390 00:25:03,640 --> 00:25:06,800 Speaker 1: Super Bowl. You can't do that unless you're you know, solvent, 391 00:25:06,960 --> 00:25:09,920 Speaker 1: unless you're legitimate. Um, and so it was a big 392 00:25:10,040 --> 00:25:12,320 Speaker 1: shock to the industry and even Toil like kind of 393 00:25:12,440 --> 00:25:15,240 Speaker 1: just you know, look, you lose. That's f t X 394 00:25:15,440 --> 00:25:19,680 Speaker 1: absolutely tanked in a very very short amount of talk. 395 00:25:20,040 --> 00:25:23,920 Speaker 1: They have file for Chapter eleven bankruptcy protection. Their proprietary 396 00:25:24,000 --> 00:25:27,000 Speaker 1: token f t T, which again you know, it's like 397 00:25:27,440 --> 00:25:31,200 Speaker 1: binance coin or bitcoin and he you know, well, it's 398 00:25:31,240 --> 00:25:33,000 Speaker 1: it's different, like a token is not quite the same 399 00:25:33,000 --> 00:25:35,879 Speaker 1: as a crypto coin. Ben, can you explain the difference 400 00:25:35,920 --> 00:25:39,119 Speaker 1: between a token and a cryptocurrency. Tokens are more like 401 00:25:39,240 --> 00:25:42,920 Speaker 1: proprietary to a particular exchange. I believe, yes, so f 402 00:25:43,200 --> 00:25:45,399 Speaker 1: t T. This is a great question. Also, f t 403 00:25:45,600 --> 00:25:52,119 Speaker 1: T was like there was like their house barbecue right right, 404 00:25:54,119 --> 00:25:57,680 Speaker 1: it was their store brand. Yes, like you go right right, 405 00:25:57,840 --> 00:26:01,439 Speaker 1: like you buy Kirkland at a store and get a discount, right. Uh. 406 00:26:01,560 --> 00:26:04,359 Speaker 1: So f t X created this crypto called f t 407 00:26:04,520 --> 00:26:07,840 Speaker 1: T and they would encourage f t X users to 408 00:26:08,119 --> 00:26:11,000 Speaker 1: buy f t T and they would say, you know, 409 00:26:11,200 --> 00:26:14,679 Speaker 1: in return qui pro quo clarice, you get a lower 410 00:26:14,880 --> 00:26:18,080 Speaker 1: fee for trading if you're trading with the with the 411 00:26:18,160 --> 00:26:21,159 Speaker 1: house brand, with the house special. Yeah. And when you trade, 412 00:26:21,280 --> 00:26:24,000 Speaker 1: there are things called gas fees that's sort of the 413 00:26:24,040 --> 00:26:26,399 Speaker 1: colloquial term for it, that are essentially just you know, 414 00:26:26,600 --> 00:26:30,439 Speaker 1: fees for conducting a trade. Um. I guess they call 415 00:26:30,520 --> 00:26:33,359 Speaker 1: them gas fees because of all the electricity involved. I 416 00:26:33,400 --> 00:26:36,680 Speaker 1: guess it's sort of like offsets that all the energy involved. Um, 417 00:26:36,800 --> 00:26:39,800 Speaker 1: So you pay these you know fees for transactions. It's 418 00:26:39,840 --> 00:26:43,359 Speaker 1: literally to purchase or to exchange or to convert, to 419 00:26:43,480 --> 00:26:45,720 Speaker 1: do whatever, you're going to pay these fees. So when 420 00:26:45,800 --> 00:26:49,040 Speaker 1: you're using the company, you know, the company store money, 421 00:26:49,160 --> 00:26:52,920 Speaker 1: the bend bucks as it were, Um, you're essentially getting, Yeah, 422 00:26:52,920 --> 00:26:55,359 Speaker 1: you're getting a better value right for for that for 423 00:26:55,560 --> 00:26:58,120 Speaker 1: you know, for those uh, you're getting a discount essentially. 424 00:26:58,520 --> 00:27:00,639 Speaker 1: So this is you know, I'm no economists, and a 425 00:27:00,720 --> 00:27:03,200 Speaker 1: lot of this does get a little bit complex, but 426 00:27:03,880 --> 00:27:07,520 Speaker 1: the main you know takeaway here is that they put 427 00:27:07,600 --> 00:27:11,080 Speaker 1: a lot of stock into this token, and a lot 428 00:27:11,160 --> 00:27:13,240 Speaker 1: of they would pay people in it. I think even 429 00:27:13,320 --> 00:27:16,439 Speaker 1: employees were paid with it. You know, directly into their 430 00:27:16,480 --> 00:27:19,320 Speaker 1: accounts because it was considered stable, because f t X 431 00:27:19,400 --> 00:27:22,960 Speaker 1: was considered above board and very stable. And um, this 432 00:27:23,119 --> 00:27:27,560 Speaker 1: other company, Binance that that I mentioned earlier, they bought 433 00:27:28,359 --> 00:27:32,960 Speaker 1: an absurd amount of f t t UM. So essentially 434 00:27:33,040 --> 00:27:35,160 Speaker 1: you become at that point what's called in the crypto 435 00:27:35,200 --> 00:27:39,320 Speaker 1: space a whale. You know, when one organization owns one 436 00:27:39,440 --> 00:27:42,119 Speaker 1: type of currency to such a large degree that if 437 00:27:42,160 --> 00:27:46,280 Speaker 1: they sold it, they could singlehandedly tank the price of 438 00:27:46,440 --> 00:27:50,880 Speaker 1: that currency. Is that about the shape of it, Ben, Yeah, 439 00:27:50,960 --> 00:27:53,320 Speaker 1: you nailed it. Well, I mean we're talking two billion 440 00:27:53,400 --> 00:27:58,040 Speaker 1: in value, uh circu two billion value bidence held in 441 00:27:58,200 --> 00:28:00,680 Speaker 1: f t t and then they just when public and 442 00:28:00,760 --> 00:28:03,920 Speaker 1: said we're gonna sell it, and that caused, you know, 443 00:28:04,400 --> 00:28:06,480 Speaker 1: a new school version of a run on the bank. 444 00:28:07,200 --> 00:28:10,000 Speaker 1: Wasn't finance looking to step in. Well that's the thing. 445 00:28:10,080 --> 00:28:12,440 Speaker 1: We'll get to that in a minute. But they essentially 446 00:28:12,560 --> 00:28:16,320 Speaker 1: did what Elon Musk did with Twitter, but they did 447 00:28:16,359 --> 00:28:20,359 Speaker 1: it smarter. Um. They you know, kind of came in 448 00:28:20,520 --> 00:28:24,359 Speaker 1: and said, oh FDx is faltering, we're gonna offload our tokens. 449 00:28:24,840 --> 00:28:27,680 Speaker 1: So that becomes an act within the market, but also 450 00:28:27,760 --> 00:28:30,840 Speaker 1: a public relations act. Were there you know, you know, 451 00:28:32,000 --> 00:28:38,080 Speaker 1: publicly stating lack of confidence in this exchange, and then 452 00:28:38,160 --> 00:28:40,920 Speaker 1: they say, well, now that we've kind of scroog you by, 453 00:28:41,160 --> 00:28:43,000 Speaker 1: you know, selling off all of these tokens that we 454 00:28:43,080 --> 00:28:47,480 Speaker 1: have and you know, calling into question your stability, we're 455 00:28:47,520 --> 00:28:49,960 Speaker 1: gonna now swoop in and say, well, we'll rescue you. 456 00:28:50,120 --> 00:28:53,520 Speaker 1: It's basically a takeover. Um what you might call I 457 00:28:53,600 --> 00:28:56,480 Speaker 1: guess it's a hostile takeover. I'm not quite sure what 458 00:28:56,520 --> 00:28:58,480 Speaker 1: you would call it exactly. But the point is that 459 00:28:58,840 --> 00:29:05,040 Speaker 1: why f t T faltered was because essentially there is 460 00:29:05,080 --> 00:29:10,160 Speaker 1: this other hedge fund called Alameda Research that, weirdly, it 461 00:29:10,200 --> 00:29:15,240 Speaker 1: would seem on paper, owned way too many of these 462 00:29:15,360 --> 00:29:19,960 Speaker 1: f t T tokens. UM and Sam Bankman Fry, the 463 00:29:20,040 --> 00:29:24,760 Speaker 1: chief executive officer of f t X, is directly connected 464 00:29:24,920 --> 00:29:29,360 Speaker 1: to Alameda, So while he would say that their their 465 00:29:29,480 --> 00:29:33,800 Speaker 1: finances were separate, that just wasn't really the case. So 466 00:29:34,040 --> 00:29:39,000 Speaker 1: essentially they were making bets with the money of those 467 00:29:39,120 --> 00:29:43,960 Speaker 1: investing on f t X using the exchange uh into 468 00:29:44,240 --> 00:29:50,040 Speaker 1: unsecured crypto deals. I think that's the long and short 469 00:29:50,080 --> 00:29:52,480 Speaker 1: of it. Ben. Maybe you can put a little more 470 00:29:52,600 --> 00:29:54,960 Speaker 1: light on that, but I think they were essentially doing 471 00:29:55,040 --> 00:29:57,840 Speaker 1: kind of a Lehman Brothers esque you know, Ponzi scheme 472 00:29:57,960 --> 00:30:00,200 Speaker 1: kind of thing, paying Peter, robbing from p Her to 473 00:30:00,240 --> 00:30:04,800 Speaker 1: pay Paul, kind of situation where they were gambling with 474 00:30:05,080 --> 00:30:09,360 Speaker 1: their investors money in ways that no one had agreed 475 00:30:09,400 --> 00:30:12,960 Speaker 1: to do. There was some nepotism as well. You know, 476 00:30:13,200 --> 00:30:18,400 Speaker 1: the person who is running Almada is the allegedly the 477 00:30:18,440 --> 00:30:21,080 Speaker 1: girlfriend of the guy who owned f t X. Al 478 00:30:21,160 --> 00:30:24,680 Speaker 1: Meda's superinvested in f t T As you said, uh, 479 00:30:24,800 --> 00:30:30,600 Speaker 1: and then sbf Sam bankman Fried, uh was this is 480 00:30:30,640 --> 00:30:32,640 Speaker 1: where it gets Okay, this is a weird one. This 481 00:30:32,760 --> 00:30:36,840 Speaker 1: is a weird wind all right. So I heard, thanks 482 00:30:36,880 --> 00:30:41,240 Speaker 1: to uh, some of our Australian friends not confirmed, I 483 00:30:41,360 --> 00:30:45,200 Speaker 1: heard an interesting theory thanks to our friend Patrice out 484 00:30:45,240 --> 00:30:51,680 Speaker 1: in oz. Uh. The idea was that bankman Freed is 485 00:30:51,800 --> 00:30:54,720 Speaker 1: well connected supporter of a lot of major, big time 486 00:30:54,840 --> 00:31:01,000 Speaker 1: US politicians, right, uh, disproportionate to his influence in the 487 00:31:01,040 --> 00:31:06,200 Speaker 1: crypto space. And there's this allegation that the US gave 488 00:31:06,320 --> 00:31:09,920 Speaker 1: money to Ukraine. Ukraine gave money to f t X. 489 00:31:10,600 --> 00:31:14,240 Speaker 1: F t X gave money to the Democratic Party hoping 490 00:31:14,360 --> 00:31:18,800 Speaker 1: for for better like like favorable regulations kind of or 491 00:31:19,440 --> 00:31:23,280 Speaker 1: maybe maybe or maybe just to to play the shell 492 00:31:23,400 --> 00:31:28,239 Speaker 1: game right, to to remove the origin of the money. Uh. 493 00:31:28,360 --> 00:31:32,560 Speaker 1: And then that leads, if we're being a little conspiratorial 494 00:31:32,600 --> 00:31:38,800 Speaker 1: about it, that leads to the speculation that maybe this 495 00:31:39,200 --> 00:31:43,840 Speaker 1: was a calculated a calculated downfall. I know, I know, 496 00:31:44,000 --> 00:31:46,240 Speaker 1: it's a lot. That's why, like Matt, that's why Noel 497 00:31:46,280 --> 00:31:51,680 Speaker 1: said this this is an episode and is no question 498 00:31:51,760 --> 00:31:55,040 Speaker 1: about it. So what happened when Finance did what Finance 499 00:31:55,120 --> 00:31:58,800 Speaker 1: did uh and and sold their their shares their their 500 00:31:58,840 --> 00:32:02,360 Speaker 1: f t t uh. It plummeted the price, and of 501 00:32:02,480 --> 00:32:04,760 Speaker 1: course people that are invested in the token we want 502 00:32:04,800 --> 00:32:07,520 Speaker 1: to pull out before it would uh you know, go 503 00:32:07,720 --> 00:32:11,280 Speaker 1: to literally zero. That can absolutely happen in crypto. Um. 504 00:32:11,440 --> 00:32:14,880 Speaker 1: So over the course of three days, people tried to 505 00:32:14,960 --> 00:32:19,120 Speaker 1: pull out six billion dollars and this kind of hearkens 506 00:32:19,200 --> 00:32:22,160 Speaker 1: back to the whole game stocks thing with Robin Hood, 507 00:32:22,480 --> 00:32:24,520 Speaker 1: where you know, they didn't have the money to cover 508 00:32:24,840 --> 00:32:28,680 Speaker 1: the withdrawals, um, so they paused it or they like 509 00:32:28,920 --> 00:32:34,400 Speaker 1: free froze withdrawals. And that's because they just literally did 510 00:32:34,480 --> 00:32:37,600 Speaker 1: not have the money to do it. And so Finance 511 00:32:37,680 --> 00:32:40,880 Speaker 1: did swoop in uh saying they would bail out ft 512 00:32:41,120 --> 00:32:43,120 Speaker 1: X by buying the company. But then, like I was 513 00:32:43,160 --> 00:32:46,200 Speaker 1: saying earlier, where Elon Musk is kind of you know 514 00:32:46,400 --> 00:32:50,280 Speaker 1: crap talked twitter um and caused the price to to 515 00:32:50,400 --> 00:32:53,600 Speaker 1: go down. He had already negotiated a deal at that 516 00:32:53,720 --> 00:32:56,800 Speaker 1: point and and he did not do due diligence. But 517 00:32:56,960 --> 00:33:01,080 Speaker 1: when Finance did due diligence on ft X, they found 518 00:33:01,360 --> 00:33:07,400 Speaker 1: that there was gross mishandling of client funds and potentially 519 00:33:07,520 --> 00:33:10,040 Speaker 1: all kinds of other stuff. Not to mention, there's this 520 00:33:10,120 --> 00:33:15,120 Speaker 1: whole thing about like weird sex orgy parties in the Bahamas, 521 00:33:15,520 --> 00:33:18,320 Speaker 1: like with the employees and all of that stuff. So 522 00:33:18,440 --> 00:33:21,680 Speaker 1: there's I mean, really is a whole another episode unto itself. Yeah, 523 00:33:21,680 --> 00:33:24,160 Speaker 1: they're like right across from the d e A guys 524 00:33:24,240 --> 00:33:27,880 Speaker 1: on Team America. They're in the same neighborhood. They go 525 00:33:28,040 --> 00:33:31,040 Speaker 1: to the like they get they get their you know, 526 00:33:31,320 --> 00:33:35,320 Speaker 1: pdolite to fight their hangovers at the same store, and 527 00:33:35,360 --> 00:33:37,840 Speaker 1: they're like nice one, bro. Oh yeah yeah, well nice 528 00:33:37,880 --> 00:33:41,200 Speaker 1: one bro. Indeed, Finance you know, did what Ellen couldn't 529 00:33:41,200 --> 00:33:44,160 Speaker 1: do because he'd already sealed the deal essentially, and they 530 00:33:44,280 --> 00:33:46,720 Speaker 1: pulled out of the deal and they had a caveat 531 00:33:46,840 --> 00:33:49,320 Speaker 1: in their whole you know, bailout plan that they could 532 00:33:49,360 --> 00:33:51,000 Speaker 1: pull out of the deal at any time, and they 533 00:33:51,080 --> 00:33:55,120 Speaker 1: did just that. So this really is an ongoing story, um, 534 00:33:56,520 --> 00:33:58,280 Speaker 1: that we're gonna have to keep an eye on and 535 00:33:58,560 --> 00:34:00,560 Speaker 1: and see how it develops. And then you know, it's 536 00:34:00,600 --> 00:34:03,400 Speaker 1: the kind of thing that is like the documentary is 537 00:34:03,400 --> 00:34:05,920 Speaker 1: already being produced, you know. I mean there there are 538 00:34:06,000 --> 00:34:10,920 Speaker 1: people this guy Michael Sailor, who's a micro Strategy founder 539 00:34:10,960 --> 00:34:13,480 Speaker 1: of this company called micro Strategy, and a big Bitcoin guy, 540 00:34:13,600 --> 00:34:17,640 Speaker 1: Michael Sailor, he is comparing um, you know, Sam bankman 541 00:34:17,680 --> 00:34:21,560 Speaker 1: Fried to Jordan Belfour, the Wolf of Wall Street. The 542 00:34:21,920 --> 00:34:27,160 Speaker 1: level and egregiousness of these financial crimes have yet to 543 00:34:27,239 --> 00:34:29,880 Speaker 1: be uncovered. And I think, you know, as time goes on, 544 00:34:30,000 --> 00:34:33,200 Speaker 1: we're going to see some more shocking revelations. And um 545 00:34:33,520 --> 00:34:36,560 Speaker 1: can't wait for the Hulu documentary that's going to compete 546 00:34:36,560 --> 00:34:39,399 Speaker 1: with the Netflix documentary, and you know, we'll see which 547 00:34:39,400 --> 00:34:43,040 Speaker 1: one is better. But man, this is crazy stuff, um, 548 00:34:43,840 --> 00:34:45,640 Speaker 1: and I think we should probably just leave it here 549 00:34:45,680 --> 00:34:47,800 Speaker 1: for now and and revisit it once we have some 550 00:34:47,880 --> 00:34:50,040 Speaker 1: more info in a full episode. But oh I we'll 551 00:34:50,080 --> 00:34:53,200 Speaker 1: just add I mentioned Larry David doing that commercial. UM. 552 00:34:53,560 --> 00:34:57,320 Speaker 1: Tom Brady also has done some evangelizing for FTX. In 553 00:34:57,400 --> 00:35:02,160 Speaker 1: addition to David Ortiz, Shaquila Neil, and Jase L bunche In, 554 00:35:02,600 --> 00:35:06,799 Speaker 1: tom Brady's ex wife. They are all being sued, uh 555 00:35:07,080 --> 00:35:13,080 Speaker 1: for essentially participating in false advertising. I don't know where 556 00:35:13,120 --> 00:35:15,560 Speaker 1: that's going to go, but it is, it is, it is. 557 00:35:15,960 --> 00:35:18,520 Speaker 1: There are tentacles here that are reaching out and touching 558 00:35:18,840 --> 00:35:22,440 Speaker 1: anybody that has, you know, been involved with this company. 559 00:35:22,960 --> 00:35:24,680 Speaker 1: So let's take a quick break here, a word from 560 00:35:24,680 --> 00:35:27,200 Speaker 1: our sponsor, and then be back with one more piece 561 00:35:27,719 --> 00:35:39,920 Speaker 1: of strange news space the final Frontier Tier. These are 562 00:35:40,040 --> 00:35:44,359 Speaker 1: the voyages of the Starship X thirty seven B. It's 563 00:35:44,400 --> 00:35:50,840 Speaker 1: continuing mission to explore strange new redacted redacted, redacted, to 564 00:35:51,040 --> 00:35:56,200 Speaker 1: seek out new redacted and new redacted to boldly redacted. 565 00:35:56,320 --> 00:36:00,160 Speaker 1: We're no redacted has gone redacted, But what's gone what 566 00:36:00,600 --> 00:36:05,200 Speaker 1: is not too far off from the actual news. Uh. 567 00:36:05,360 --> 00:36:08,239 Speaker 1: This is something that I have been obsessed with for 568 00:36:08,840 --> 00:36:13,480 Speaker 1: uh quite a while, as have you, Matt. The X 569 00:36:13,600 --> 00:36:18,480 Speaker 1: thirty seven B Orbital Test Vehicle six street name O 570 00:36:18,680 --> 00:36:24,480 Speaker 1: t V six. UH. This this is an unmanned reusable 571 00:36:24,560 --> 00:36:28,040 Speaker 1: space plane. It looks uh, it looks a lot like 572 00:36:28,400 --> 00:36:33,880 Speaker 1: an old school NASA shuttle until you really really put 573 00:36:33,960 --> 00:36:36,959 Speaker 1: your eyes on it. Uh it is. It is owned 574 00:36:37,000 --> 00:36:40,400 Speaker 1: by Space Force, which is still a thing. So uh 575 00:36:41,080 --> 00:36:43,000 Speaker 1: we were I know, I went kind of ham on 576 00:36:43,200 --> 00:36:46,360 Speaker 1: our group chat. Sorry to abuse the access guys, but 577 00:36:46,920 --> 00:36:50,319 Speaker 1: I was excited about the d A. I mean, they 578 00:36:50,360 --> 00:36:54,560 Speaker 1: don't ever really explain what they're enforcing about drugs. But 579 00:36:54,800 --> 00:36:58,600 Speaker 1: I was also I was also over the moon. There 580 00:36:58,680 --> 00:37:02,080 Speaker 1: we go about the X thirty seven B. We have 581 00:37:02,200 --> 00:37:05,840 Speaker 1: been watching this for a while. How event horizon is this? 582 00:37:06,520 --> 00:37:11,279 Speaker 1: After two and a half years in space unmanned days 583 00:37:11,320 --> 00:37:14,800 Speaker 1: to be exact, this bad boy landed at the Kennedy 584 00:37:14,920 --> 00:37:18,800 Speaker 1: Space Hitter in Florida on Saturday, November twelve in the 585 00:37:19,320 --> 00:37:25,399 Speaker 1: pre dawn hours am local time. Six successful mission so far, 586 00:37:27,120 --> 00:37:29,279 Speaker 1: no one knows. No one's admitted what it was doing 587 00:37:29,400 --> 00:37:32,040 Speaker 1: up there. We got we have some we have like 588 00:37:32,440 --> 00:37:37,520 Speaker 1: the most innocuous experiments that they listed out on new scientists. 589 00:37:37,880 --> 00:37:41,839 Speaker 1: But it's like, come on, come on, guys, come on, yeah, yeah, 590 00:37:42,960 --> 00:37:46,680 Speaker 1: I'm sure. So yeah, let's let's go with that. I 591 00:37:47,040 --> 00:37:49,360 Speaker 1: I like that, man, let's go with the let's go 592 00:37:49,440 --> 00:37:54,400 Speaker 1: with news scientists before we get into the deep water. Right, So, 593 00:37:55,520 --> 00:37:59,800 Speaker 1: so everybody admits it's a secretive thing and and it 594 00:38:00,040 --> 00:38:05,320 Speaker 1: and it doesn't look as good as a manned space shuttles. 595 00:38:05,719 --> 00:38:08,239 Speaker 1: It's got a lot of patchwork. You know, it's got 596 00:38:08,360 --> 00:38:13,239 Speaker 1: no windows. It doesn't need windows, and it doesn't need 597 00:38:14,400 --> 00:38:17,360 Speaker 1: one of the most difficult things about any spacecraft. And 598 00:38:17,440 --> 00:38:21,439 Speaker 1: we won't need eyes. Uh when how does that go? Sorry, 599 00:38:21,640 --> 00:38:25,160 Speaker 1: I'm just back on the event horizon. Yeah, we don't 600 00:38:25,200 --> 00:38:30,520 Speaker 1: need eyes out here. It doesn't need all of the 601 00:38:30,600 --> 00:38:35,200 Speaker 1: accouterment that is necessary to keep meat bags alive in 602 00:38:35,280 --> 00:38:38,040 Speaker 1: an environment that they were never built for. H So 603 00:38:38,239 --> 00:38:41,920 Speaker 1: this thing still the size of a space shuttle, right, 604 00:38:42,520 --> 00:38:45,200 Speaker 1: So what did they put in there instead of the 605 00:38:45,440 --> 00:38:51,160 Speaker 1: in place of the equipment used to support uh terran organisms. 606 00:38:51,760 --> 00:38:54,839 Speaker 1: This was started under the auspice of NASA. Big fans 607 00:38:54,880 --> 00:38:56,839 Speaker 1: of NASA here on the show. They do great work. 608 00:38:57,160 --> 00:39:00,160 Speaker 1: Shout out to the James Webb Telescope. But it was 609 00:39:00,280 --> 00:39:04,680 Speaker 1: passed to the US military. That's where the X thirty 610 00:39:04,760 --> 00:39:07,560 Speaker 1: seven B comes from. It's a variant of the O TV. 611 00:39:08,280 --> 00:39:15,440 Speaker 1: And this thing has captivated us because if you if 612 00:39:15,520 --> 00:39:20,200 Speaker 1: you look at the experts who are allowed to speak publicly. 613 00:39:21,000 --> 00:39:25,880 Speaker 1: You will see that they're talking about they're talking about 614 00:39:25,920 --> 00:39:30,879 Speaker 1: experiments that, as you said, Matt, seemed rather innocuous with microwaves. Uh, 615 00:39:31,000 --> 00:39:37,120 Speaker 1: they're talking about releasing satellites that are experimental with electromagnetic 616 00:39:37,200 --> 00:39:40,560 Speaker 1: propulsion and so on. Doesn't that sound cool? Though? It 617 00:39:40,680 --> 00:39:43,799 Speaker 1: does sound really cool. It sounds so cool, you know. Uh, 618 00:39:44,280 --> 00:39:46,640 Speaker 1: Like imagine if you had one of those, right, we 619 00:39:46,719 --> 00:39:49,280 Speaker 1: would be like, why are we hanging out on on Earth? 620 00:39:49,560 --> 00:39:53,799 Speaker 1: You know, our weekend day trip conversations would be less 621 00:39:53,880 --> 00:39:56,879 Speaker 1: David Busters and more space. Why don't we just pop 622 00:39:56,960 --> 00:39:58,960 Speaker 1: off to space for a bit? You know, let's take 623 00:39:59,000 --> 00:40:02,880 Speaker 1: the elevator. Yeah, let's go. But like, electric magnetic propulsion 624 00:40:03,040 --> 00:40:07,200 Speaker 1: system sounds revolutionary to me, maybe just because I'm unaware 625 00:40:07,200 --> 00:40:10,960 Speaker 1: of existing technology that would use something like that. Uh, 626 00:40:11,800 --> 00:40:17,839 Speaker 1: it sounds like railgun make vehicle go forward tech exactly. Yeah. 627 00:40:18,239 --> 00:40:22,360 Speaker 1: It reminds me of that that zero drive, right, that 628 00:40:22,560 --> 00:40:25,600 Speaker 1: that made such a splash in the news and then 629 00:40:25,760 --> 00:40:29,560 Speaker 1: disappeared from conversation, just like the X thirty seven beat 630 00:40:29,600 --> 00:40:32,600 Speaker 1: did for two and a half years. Now, Look, we 631 00:40:32,920 --> 00:40:35,840 Speaker 1: know we we've been here on Earth with you for 632 00:40:35,920 --> 00:40:37,719 Speaker 1: the past two and a half years. We know there 633 00:40:37,800 --> 00:40:39,759 Speaker 1: was a lot of stuff going on. There are things 634 00:40:39,840 --> 00:40:42,160 Speaker 1: that are easy to miss. But that's why we do 635 00:40:42,360 --> 00:40:44,960 Speaker 1: this show. That's why X thirty seven B has to 636 00:40:45,040 --> 00:40:49,799 Speaker 1: be a future episode because of the military aspect here, 637 00:40:51,239 --> 00:40:55,399 Speaker 1: the streets are watching GEO politically. Uh. The former head 638 00:40:55,640 --> 00:41:00,399 Speaker 1: of Russia's space agency there NASA rosa Cosmos guy named 639 00:41:00,440 --> 00:41:05,840 Speaker 1: Dmitri Rugs and was in an interview earlier and he 640 00:41:06,120 --> 00:41:10,000 Speaker 1: said this is probably a carrier for some kind of 641 00:41:10,160 --> 00:41:15,720 Speaker 1: reconnaissance apparatus and then also possibly a carrier of weapons 642 00:41:15,800 --> 00:41:19,520 Speaker 1: of mass destruction. Now, of course the world has agreed 643 00:41:19,600 --> 00:41:23,759 Speaker 1: on paper not to militarize space, and of course all 644 00:41:23,840 --> 00:41:27,600 Speaker 1: the countries that could militarize space plausibly have a plan 645 00:41:27,760 --> 00:41:31,000 Speaker 1: to do. So, you know, I'm we're not saying they're 646 00:41:31,120 --> 00:41:33,920 Speaker 1: they're doing it now, We're just saying they don't want 647 00:41:33,960 --> 00:41:37,640 Speaker 1: to be last to the game, right, It's always better 648 00:41:37,719 --> 00:41:40,799 Speaker 1: to be first than the space there. Oh my god, accidental, 649 00:41:40,960 --> 00:41:45,920 Speaker 1: but yeah, literally, So this this thing has a lot 650 00:41:46,000 --> 00:41:51,480 Speaker 1: of speculation around it, and it's nuts to consider. You know, 651 00:41:51,600 --> 00:41:54,520 Speaker 1: how expensive it is to launch something into space if 652 00:41:54,560 --> 00:41:57,720 Speaker 1: you live in the US, whether or not. You're a citizen. 653 00:41:58,160 --> 00:42:02,200 Speaker 1: You are paying for part of this machine, and you 654 00:42:02,320 --> 00:42:05,640 Speaker 1: are not going to get an explanation unless you're lucky 655 00:42:05,800 --> 00:42:08,719 Speaker 1: enough to get one of those gend up security clearances 656 00:42:08,920 --> 00:42:13,320 Speaker 1: that we talked about earlier. So this, this idea, I 657 00:42:13,440 --> 00:42:15,560 Speaker 1: want to I want to bring it to you, guys. 658 00:42:16,840 --> 00:42:19,239 Speaker 1: This idea has prompted a lot of speculation about what 659 00:42:19,400 --> 00:42:23,640 Speaker 1: the thing is doing. Most alarmingly, other superpowers are working 660 00:42:23,680 --> 00:42:26,600 Speaker 1: on their own version of the thing. China is building 661 00:42:26,680 --> 00:42:29,600 Speaker 1: their own answer to the X three seven B. Also, 662 00:42:30,080 --> 00:42:34,560 Speaker 1: they're kind of sketchy about what what it's supposed to do, right, Pete, 663 00:42:34,600 --> 00:42:36,560 Speaker 1: don't peek behind the curtain. You know what I mean, 664 00:42:36,719 --> 00:42:39,440 Speaker 1: your tax dollars at work. My big question, Ben, is 665 00:42:41,520 --> 00:42:44,520 Speaker 1: so the Space Shuttle was designed to orbit in lower 666 00:42:44,560 --> 00:42:46,879 Speaker 1: Earth orbit. That's what it was designed to do. That's 667 00:42:46,920 --> 00:42:48,359 Speaker 1: what it was gonna do, and it's what it did. 668 00:42:49,080 --> 00:42:51,960 Speaker 1: This thing looks a lot like that, just smaller and 669 00:42:52,120 --> 00:42:54,759 Speaker 1: it's automated. It feels like it's going to operate in 670 00:42:54,880 --> 00:42:59,319 Speaker 1: that same essentially layer of space in low Earth orbit. 671 00:43:00,239 --> 00:43:03,120 Speaker 1: Do you think, and this is complete speculation on my part, 672 00:43:03,360 --> 00:43:07,000 Speaker 1: do you think this thing is steerable fliable, not just 673 00:43:07,280 --> 00:43:10,399 Speaker 1: going around in the same orbital path the whole time. 674 00:43:10,880 --> 00:43:14,360 Speaker 1: Because if it looks like it could do that, and 675 00:43:14,560 --> 00:43:16,400 Speaker 1: and if that if you could do that, then it 676 00:43:16,480 --> 00:43:20,879 Speaker 1: feels like they're serious national security concerns for like every 677 00:43:20,920 --> 00:43:24,920 Speaker 1: country that has satellites. Uh yeah, you hit the nail 678 00:43:25,040 --> 00:43:29,600 Speaker 1: meat head uh connected to by Mr Matt Frederick favorite 679 00:43:29,640 --> 00:43:35,279 Speaker 1: cinebite that's m e A t head. Yeah, this is 680 00:43:35,440 --> 00:43:38,440 Speaker 1: this is great. Like obviously it's reusable, it can land, 681 00:43:39,320 --> 00:43:42,719 Speaker 1: so there is some measure of control. We know that, right, 682 00:43:43,200 --> 00:43:47,760 Speaker 1: And we also know that technology exists already well established, 683 00:43:47,800 --> 00:43:52,480 Speaker 1: well tested to control these objects in space, including satellites, 684 00:43:52,520 --> 00:43:56,560 Speaker 1: including man shuttles and so on. The reason I'm saying 685 00:43:57,160 --> 00:43:59,719 Speaker 1: nail on the head here is because one of the 686 00:43:59,800 --> 00:44:04,000 Speaker 1: pieces of speculation that's really fascinated me is the idea 687 00:44:04,360 --> 00:44:09,080 Speaker 1: of building a satellite snatcher, right, because I remember, not 688 00:44:09,280 --> 00:44:13,840 Speaker 1: too long ago, there was there there was a series 689 00:44:14,120 --> 00:44:18,520 Speaker 1: of strange, cool, and frightening space events that were not 690 00:44:20,120 --> 00:44:24,560 Speaker 1: loudly reported by a lot of people's go to news sources. 691 00:44:25,640 --> 00:44:29,279 Speaker 1: The US proved that it could shoot satellites out, you know, 692 00:44:29,440 --> 00:44:33,600 Speaker 1: just skeet shoot him. China did the same and you know, 693 00:44:33,719 --> 00:44:36,080 Speaker 1: Russia bellied up to the poker table for a little 694 00:44:36,120 --> 00:44:40,840 Speaker 1: bit and was like, I also do stuff, but but 695 00:44:41,320 --> 00:44:43,880 Speaker 1: China and the US actually did it. And now is 696 00:44:43,960 --> 00:44:49,279 Speaker 1: this an escalation a logical expansion on that idea? The 697 00:44:49,360 --> 00:44:54,279 Speaker 1: only thing more valuable than shooting down of foreign satellite 698 00:44:54,880 --> 00:44:58,200 Speaker 1: is capturing it, right, you know, just like in Galagha, 699 00:44:58,560 --> 00:45:02,200 Speaker 1: The secret move got sounds so ridiculous. The secret moving 700 00:45:02,239 --> 00:45:05,200 Speaker 1: Galica is to give up one of your ships so 701 00:45:05,360 --> 00:45:07,880 Speaker 1: that you can take it back and now you have 702 00:45:08,040 --> 00:45:11,640 Speaker 1: double the firepower. Right, Are they doing a Galagha thing 703 00:45:12,080 --> 00:45:15,000 Speaker 1: up there? Are? They are the satellites, the other ships. 704 00:45:15,320 --> 00:45:18,480 Speaker 1: It's quite possible. Imagine how amazing that would be. Now 705 00:45:19,400 --> 00:45:23,759 Speaker 1: anybody in this industry will, I'm sure, readily point out 706 00:45:23,920 --> 00:45:30,440 Speaker 1: that it's possibly more cost effective to just remotely access 707 00:45:31,800 --> 00:45:35,239 Speaker 1: whatever those space birds are are putting their eyes on. 708 00:45:36,760 --> 00:45:41,840 Speaker 1: But still pretty neat. I'm I'm guys, it's this. It 709 00:45:41,920 --> 00:45:44,160 Speaker 1: brings out this strange love in me, Like, I know, 710 00:45:44,440 --> 00:45:48,560 Speaker 1: terrible things can happen, but it's so cool. It's so 711 00:45:48,760 --> 00:45:52,040 Speaker 1: cool that humans can do this. It's like I feel 712 00:45:52,080 --> 00:45:55,560 Speaker 1: like Jesse Pinkman, but instead of yelling, uh science, I'm 713 00:45:55,640 --> 00:46:00,120 Speaker 1: yelling math, you know, just the math alone. But what 714 00:46:00,400 --> 00:46:02,239 Speaker 1: what do you guys think? Do you guys think this 715 00:46:02,480 --> 00:46:07,880 Speaker 1: is an innocuous thing that is only testing material science, 716 00:46:08,080 --> 00:46:12,440 Speaker 1: radiation exposure, long term effects on UH seeds? I think 717 00:46:12,480 --> 00:46:15,640 Speaker 1: seeds are the primary organic material it carries for the 718 00:46:15,719 --> 00:46:19,640 Speaker 1: public eye. I mean, what what are they building up there? Well, 719 00:46:19,800 --> 00:46:24,840 Speaker 1: the thing is it stinks that we can't know, because 720 00:46:24,880 --> 00:46:28,240 Speaker 1: it does seem like those experiments are cool and interesting. 721 00:46:28,320 --> 00:46:30,440 Speaker 1: And that's how you're going to get the public behind 722 00:46:31,000 --> 00:46:33,279 Speaker 1: these kinds of things, because, as you said, Ben, we're 723 00:46:33,560 --> 00:46:37,440 Speaker 1: paying for it ultimately if you show like we've got 724 00:46:37,520 --> 00:46:40,440 Speaker 1: important stuff to test and we're going to test it 725 00:46:40,520 --> 00:46:43,719 Speaker 1: with this thing. And the great thing of the the 726 00:46:43,800 --> 00:46:47,279 Speaker 1: great aspect about this particular craft is that we can 727 00:46:47,320 --> 00:46:49,520 Speaker 1: do it for two years. We can have two year 728 00:46:49,600 --> 00:46:54,359 Speaker 1: long experiments in space if we want to, potentially even 729 00:46:54,440 --> 00:46:59,120 Speaker 1: longer than that, and we can gain massive scientific data 730 00:46:59,400 --> 00:47:02,040 Speaker 1: that we couldn't get otherwise. Even if you put this 731 00:47:02,200 --> 00:47:05,400 Speaker 1: kind of experiment on the I S S. It's kind 732 00:47:05,400 --> 00:47:09,200 Speaker 1: of weird, but think about the possible UH human interaction 733 00:47:09,280 --> 00:47:15,040 Speaker 1: with an experiment that could render it, you know, completely moot. 734 00:47:15,280 --> 00:47:18,680 Speaker 1: Right if you accidentally messed up an experiment because you know, 735 00:47:18,800 --> 00:47:21,560 Speaker 1: you're a human on a craft on the International Space 736 00:47:21,640 --> 00:47:24,759 Speaker 1: Station and you accidentally just barely mess it up and 737 00:47:24,880 --> 00:47:27,600 Speaker 1: not saying that happened a lot or even has a 738 00:47:27,680 --> 00:47:29,719 Speaker 1: higher potential happen or something like that. It's just you 739 00:47:29,800 --> 00:47:33,680 Speaker 1: take you remove the human element from experimentation, which could 740 00:47:33,719 --> 00:47:36,319 Speaker 1: be hugely advantage of a lot of doors. For sure, 741 00:47:36,680 --> 00:47:39,680 Speaker 1: there's things you can do that you just couldn't do because, 742 00:47:39,760 --> 00:47:42,440 Speaker 1: like you said, Ben, our meat bodies couldn't sustain ends, 743 00:47:42,800 --> 00:47:44,839 Speaker 1: you know, and we have to have a certain at 744 00:47:44,920 --> 00:47:49,640 Speaker 1: least appearance of ethics where humans are animals are involved, 745 00:47:49,800 --> 00:47:52,880 Speaker 1: you know. But why would you even acknowledge that the 746 00:47:53,000 --> 00:47:56,920 Speaker 1: thing went up if it's really doing some nefarious stuff 747 00:47:56,960 --> 00:47:59,279 Speaker 1: up there? I guess would you have to? Yeah, there's 748 00:47:59,400 --> 00:48:04,320 Speaker 1: it's just like the problem with Key with the Corona satellites. 749 00:48:04,400 --> 00:48:07,800 Speaker 1: There's no way to make it invisible. Just yet, so 750 00:48:08,160 --> 00:48:11,600 Speaker 1: other countries again, the streets are watching other countries know 751 00:48:12,200 --> 00:48:16,520 Speaker 1: every time the US makes a launch successfully into space, 752 00:48:16,920 --> 00:48:19,600 Speaker 1: right and and just the same it's very much again 753 00:48:19,680 --> 00:48:22,040 Speaker 1: it's not a glass house. It's a glass world in 754 00:48:22,120 --> 00:48:25,960 Speaker 1: the world. In in this sense, uh, you can find 755 00:48:26,719 --> 00:48:30,480 Speaker 1: basic information about X thirty seven B. We we talked 756 00:48:30,520 --> 00:48:34,680 Speaker 1: about it in at least one or two previous shows, 757 00:48:35,600 --> 00:48:41,640 Speaker 1: but the true purpose still remains a mystery. Maybe it's 758 00:48:41,680 --> 00:48:47,320 Speaker 1: not capturing satellites. Maybe it is secretly deploying satellites. But again, 759 00:48:47,440 --> 00:48:51,120 Speaker 1: if you're a foreign power or even a civilian right 760 00:48:51,239 --> 00:48:57,520 Speaker 1: with surprisingly unsophisticated telescopes, you can see new satellites, right, 761 00:48:57,680 --> 00:49:00,759 Speaker 1: you can. You can find them should you try. And 762 00:49:01,080 --> 00:49:06,799 Speaker 1: we welcome your adventures in those astronomy forums. But that's 763 00:49:07,000 --> 00:49:08,960 Speaker 1: that's We're just taking you to the door of that 764 00:49:09,160 --> 00:49:11,840 Speaker 1: rabbit hole because we don't want to be responsible for 765 00:49:11,960 --> 00:49:14,959 Speaker 1: you losing all those hours on all those late nights. 766 00:49:15,000 --> 00:49:17,439 Speaker 1: But we do hope you have fun. Uh. And then 767 00:49:17,600 --> 00:49:20,840 Speaker 1: again this so let's end on that. We like to 768 00:49:20,960 --> 00:49:25,080 Speaker 1: end on on future facing stuff, right, and the X 769 00:49:25,160 --> 00:49:28,360 Speaker 1: thirty seven B is probably, yes, gonna go on a 770 00:49:28,480 --> 00:49:35,360 Speaker 1: seventh mission, and it might not go alone. Further, aside 771 00:49:35,480 --> 00:49:41,240 Speaker 1: from you know, the publicly palatable innocuous experiments that people 772 00:49:41,320 --> 00:49:44,960 Speaker 1: think of as nerdy, no one really knows what this 773 00:49:45,160 --> 00:49:47,320 Speaker 1: is doing. No no one who can speak about it 774 00:49:47,480 --> 00:49:52,360 Speaker 1: in public unless you have an inside scoop and you 775 00:49:52,600 --> 00:49:56,319 Speaker 1: happen to be a fellow conspiracy realist. This is going 776 00:49:56,360 --> 00:49:58,840 Speaker 1: to be a future episode. Ft X is going to 777 00:49:58,880 --> 00:50:02,279 Speaker 1: be a future episode. The Adventures and Misadventures of the 778 00:50:02,400 --> 00:50:05,719 Speaker 1: d e A also a future episode. We can't wait 779 00:50:05,800 --> 00:50:07,600 Speaker 1: for you to be a part of it. We want 780 00:50:07,640 --> 00:50:13,160 Speaker 1: to hear your experience, your stories, your speculation, and don't 781 00:50:13,200 --> 00:50:16,319 Speaker 1: bother keeping it grounded. We're talking about space, all right, 782 00:50:16,400 --> 00:50:19,920 Speaker 1: last bad joke. Uh So, we hope you enjoyed this. 783 00:50:20,440 --> 00:50:25,520 Speaker 1: We're hurtling headlong into Thanksgiving here in the US, so 784 00:50:25,719 --> 00:50:27,840 Speaker 1: again the week after this, we're gonna have some of 785 00:50:27,880 --> 00:50:30,799 Speaker 1: our favorite classic episodes up and it takes some time 786 00:50:30,920 --> 00:50:33,879 Speaker 1: with our families, and we hope you do the same. 787 00:50:34,280 --> 00:50:36,680 Speaker 1: We consider you a part of our family and we'd 788 00:50:36,800 --> 00:50:39,799 Speaker 1: love to hear from you online. Surewood. You can find 789 00:50:39,880 --> 00:50:43,600 Speaker 1: us on Twitter, on Facebook, and on YouTube A Conspiracy 790 00:50:43,760 --> 00:50:47,480 Speaker 1: Stuff on Instagram, A Conspiracy Stuff Show. Yes, we also 791 00:50:47,560 --> 00:50:49,879 Speaker 1: have a phone number. It is one eight three three 792 00:50:50,200 --> 00:50:53,360 Speaker 1: std w y t K. When you call in it 793 00:50:53,440 --> 00:50:56,160 Speaker 1: it's a voicemail system, so leave a message. You've got 794 00:50:56,239 --> 00:50:58,719 Speaker 1: three minutes. Please give yourself a cool name so we 795 00:50:58,840 --> 00:51:02,120 Speaker 1: remember you when you call in again. And uh, let's 796 00:51:02,120 --> 00:51:04,279 Speaker 1: say whatever you want. Just let us know if we 797 00:51:04,360 --> 00:51:07,200 Speaker 1: can use your name and message on the air. If 798 00:51:07,239 --> 00:51:10,200 Speaker 1: you don't like voicemails and phones in general, why not 799 00:51:10,400 --> 00:51:13,520 Speaker 1: instead send us a good old fashioned email. We are 800 00:51:13,800 --> 00:51:35,719 Speaker 1: conspiracy at i heeart radio dot com. Stuff they don't 801 00:51:35,719 --> 00:51:38,240 Speaker 1: want you to know. Is a production of I heart Radio. 802 00:51:38,600 --> 00:51:40,800 Speaker 1: For more podcasts from my heart Radio, visit the i 803 00:51:40,920 --> 00:51:43,800 Speaker 1: heart Radio app, Apple Podcasts, or wherever you listen to 804 00:51:43,840 --> 00:51:44,640 Speaker 1: your favorite shows.