It's interesting as we head into a damnable national political year these these torture sessions We have to endure every four years You know, I'll give you an old quote even an ancient quote to start the beginning of wisdom is to call things by their proper name And of course the political process attempts to do just the opposite it attempts to lie and obfuscate about everything so When we think about why this is and why this happens and why we put up with it every four years we have to think about propaganda Which is really the the lubrication that the state uses to keep us all sort of appeased And and I wanted to start with talking about the man who literally wrote the book Fascinating man, and I'm curious to wonder how many people in this room have heard of Edward Bernays Okay, quite a few hands now some of you may have been at an event in Dallas We had a few years ago and I mentioned him briefly there He's absolutely fascinating character and his personal story is something else But with the reason I pulled this quote out of his book people used to title books a little bit more honestly They didn't have the subtitles that go on and on, you know, you see him in the airport But nonetheless he just called his book propaganda and for many many years that was the term used for advertising Advertising is sort of a 20th century term to make things sound a little better But this quote of his where he talks about an invisible government and the people who really set public opinion I thought this is these foreshadowing what we call the deep state today You know he absolutely foreshadowed it and of course the deep state is not just people within the regulatory state It's also the nexus of people in NGOs and media and academia, etc. But I thought that was such a fascinating quote So there's actually some parallels between Edward Edward Bernays life and Ludwig von Mises Both born in in Austria or Mises. What is now Austria? So Edward Bernays was born in Vienna in 1891 Brilliant man absolutely brilliant man, and you've ever heard the phrase, you know Sometimes the most effective people are the people you've never heard of Well, this guy's one of them So he's born in 1891 in Vienna moves to New York City as a young boy. He proceeds to live live until 1995 an astonishing 103 years and And so his first job as a young man or one of his first jobs when he got in the advertising business was in Working for the Woodrow Wilson administration around the time of World War one So they set up something or welly and sounding called the Committee on Public Information Which you can imagine what that was and so what it was was an attempted gin up support for the war effort Because at the time something like 60% of Americans had at least some degree of German ancestry and going to war with their first cousins Was not necessarily their their number one priority in life. So we needed some support for this So he went to work creating wartime propaganda in the 1910s and after the war was over He actually attended the Paris peace conference and a big takeaway from the Paris peace conference from mr. Bernays was that well, you know, we need we now need to turn to the problems of peace That's what he called it the problems of peace and one of those problems was to disseminate American Propaganda worldwide now, you know talk about American accomplishments And one of the other peculiar Problems of peace is selling stuff Because at the end of the day, he's an ad man. He's an advertising man.  Well, the problem with that is you're only selling cigarettes to half the population Right, that's a big untapped market.  That's a very 1910s name. We don't have too many births anymore Bertha Hunt. So he had her walk out into the March 1929 Easter parade in night in New York City So he had her walk out in this parade and she lit up a cigarette And as she walked through the parade some other women came out also smoking and These were somewhat glamorous women, you know in the in the period and so instantly because this this event was a Big public event in New York City instantly a million of what millions of women around the country heard about this and started Rethinking their thoughts about smoking and as a result Tobacco sales to women rose considerably over the next couple decades. It was actually successful and So what's so interesting about this is that he was learning as he as he went through all this and he said, you know Human customs things that have been long-standing traditions can actually be broken down by using dramatic appeal Having glamorous well-dressed women smoking in a fancy New York City parade was was the use of dramatic appeal And so what he understood and developed was the idea of engineering consent We have to appeal to people's underlying motivations, you know What really gets them on a more visceral level and his understanding of this was something that he crafted and thought about Technically, but there's some people who just get this naturally and we all know what we're talking about in the political sphere here, right? Why does why does Bill Clinton win? Why did Bill Clinton win? Why does AOC resonate with people as Opposed to Elizabeth Warner, Hillary, you know, why why do some people have that emotional touch? Why you know, why does nobody want to vote for John Kasich? Well, it's because he didn't read and understand Edward Bernays. He didn't understand how you engineer consent and So I think we're gonna find out that Edward Bernays his legacy lives on well past his life And he's a fascinating guy. This is a slim volume if any of you have interest in picking up I recommend it if any of you can find this first edition with the Noam Chomsky cover. You might want to hold on to that one So how do you engineer consent? How did how did Edward Bernays and how do our modern political media class go about it? Well George Orwell understood this as well He wrote this fantastic essay in the 1940s called politics in the English language and in this essay Which you should all read is very brief. It's available online. It's just a maybe couple thousand words He talked about the use of meaningless words and by meaningless words He means words that are just used so vaguely That you can craft them in a consciously dishonest way and I love that term consciously dishonest because maybe it's subconsciously dishonest But nonetheless dishonest and he even back then in the 1940s said well, you know word like democracy There's no agreed definition and it's just so vague. We just understand democracy is well That's something good, you know, that's all democracy means you don't have to define it much beyond that So it's it's interesting that democracy is still being used as a meaningless word and George Orwell was an absolute master at language So if you think of Bernays as someone who set the emotional tone for stuff George Orwell was more the craftsman the technician actually using words and understanding how they were used obviously a very fine writer in his own right So what are some of the meaningless words to which we are going to be subjected in 2020? Well, there's some oldies But goodies I mean there's a million of them, but you're going to hear these a lot and one of my least favorite people on earth is Hillary Clinton and She gushes about our sacred democracy and after you know coming back from the restroom I continue reading about this, you know democracy is just such a sham word in our country First of all it never appears in the Constitution or the Declaration of Independence by the way a little side note there But you know, what's democracy what you know, we use it a shorthand for legitimate We use it as shorthand for we have consent government has consent of the governed. Do they really? When Ronald Reagan won his reelection in 1984, this is one of the biggest landslides in American history 1984 versus the hapless Walter Mondale Ronald Reagan proceeds to win every state in the country. I think it's saved for Walter Mondale's home state of Minnesota. I think if I'm correct 1984 okay Ronald Reagan got 54 million votes in that election an Absolute epic lides landslide, but here's the kicker. There's in 1984. There were 235 million Americans He got 22% of the country 22% of the country is an epic landslide That equals consent of the governed. I'm not a math major, but not in my book So what's democracy and what's legitimate and what's consent is is Maduro He's democratically elected. So do we support Maduro? What about Vladimir Putin? He's been elected several times actually in the former Soviet Union. Who else should we talk about? There's all kinds of people Was Donald Trump democratically elected? Depends on who you ask. That's the problem with democracy. It's become an absolutely meaningless word But there's a close cousin to democracy that we're gonna hear more and more lately Which is of course social justice because these two concepts are Interrelated if the country's democratic it can be democratic socialist and then we can have social justice and all these exceedingly vague terms That nobody can define Nobody can interpret nobody can provide a definition or a policy or anything else Well, we just need more social justice and of course it sounds good. It sounds like kindness or fairness But when we can't define something what it really means is Distributive justice it means the quality of outcomes not a quality of opportunity That's how people in this country use the term social justice. It is about a distributive result Not just an opportunity or some kind of fairness and of course read the kayak talked about the mirage of social justice He said you know it's it's so It's such a mirage you can't you can't define it so you can't even attack it or support it coherently and he said justice is an attribute of Individual actions how we deal with one another That's justice. That's why the Statue of Liberty has a blindfold for a reason. We're supposed to look at the crime not the person So what social justice really means is treating people unequally it means using state power to treat people unequally So nobody ever says that so therefore it's a meaningless word And of course the only justice that we ought to be caring about as people who believe in political liberty is the purest Procedural form of justice in other words before the institutions of the state Nothing more nothing less. This is about this is not about outcomes justice is not about outcomes per se Another word that we're gonna hear a lot in 2020 where we've been subjected to of course over the last few years with Brexit and Trump is populism populists You know democracy is good, but populism is bad The problem is is that populism for from my perspective anyway, it's just democracy good and hard Right. That's what populism is and or you could say populism is when the wrong person wins a democratic election when the right person wins That's that's our sacred democracy And as an aside I remember as an event with Tom with I was saying you know if just a few hundred thousand more people Actually a few tens of thousands more people in a couple of swing states that voted for Hillary Clinton instead of Donald Trump some of the states that Trump swung from above just a few tens of thousand people Maybe thirty forty thousand people out of a country of three hundred odd million if they just voted the right way The way we all knew that everyone's gonna vote for Hillary who was inevitable if they just voted the right way You know you know what the pundits would have been saying the day after the election even say oh, you know You know at the end of the day democracy works and the American people were too smart to be conned by this Real estate guy who's so coarse and he's a TV star and every everyone would be talking about how the great wisdom of our system But instead you know ten twenty thirty thousand people vote wrong and all of a sudden we're in an absolute calamity You know what kind of system is that? So populism is not all it's cracked up to be Inequality this one we're going to get talking about who good and hard We're gonna get this one good and hard for the next 12 months and of course it's a mirage What does inequality mean Tom Woods points this out if you make forty thousand dollars and you have the good fortune to live in the West today You're infinitely wealthier than virtually any human being who ever walked the earth You have hot and cold running water at your disposal You have some kind of habitation over your head probably have some kind of vehicle You probably have air conditioning etc So it's awfully hard to say what inequality means And it's awfully hard to make this term or this thought stop at the US border or the border of Western developed countries Why why do we care about inequality only in certain geographic zones? and of course I Always wonder when you're talking to people who say inequality is the great Issue of our day. It's the great problem of the West. They really believe this They think inequality is the great problem of the West and of course in doing so what they care about is Only the number of zeros in your bank account not how you actually live every day and and you know that person who makes forty thousand dollars Provided they work in an office and drive to that office in the car Their day-to-day life is probably more like Bill Gates's life than unlike it Compared to someone two or two or three hundred years ago when there was real inequality in the West But here's the question. Here's the magic question. You have to ask the Inequalists the people who are obsessed with this issue is okay Let's say there was a magic button you could press and by pressing you would immediately make The lowest 10% materially the least affluent 10% of people in America Objectively better off. There's a magic button if you press the button Objectively their health care their housing their food their education will all improve by let's say 10% So a 10% material improvement for the lowest 10% Financially in America, but by pressing the magic button the wealthiest 1% all get 20% wealthier Would you press the button? I sure would I Think most of you care about people in this room would too so this inequality narrative is designed to get us sort of On our heels defending Liberty defending capitalism when we should be attacking and promoting inequality is just a word mostly for more taxes That's what inequality means when people said when someone talks about inequality Get your pay get your checkbook out because that's what's coming next and of course 2020 We are going to be harangued for the next 12 months over climate change Okay, again climate change makes inequality look like a precisely defined term. I Mean we have no idea for so when someone wants to talk to you about climate change and they say are you a climate scientist? Well, most people aren't climate scientists last time I checked so the rest of us should just shut up And we should have a technocratic rule by five climate scientists who don't even agree with one No, that's interesting me But there's there's four questions quickly present themselves that you should ask these people the first one is Okay, do we really know what's happening because we have to look at things over eons over thousands of years We can't just look at them over 50 years or 100 years 200 so is the earth really getting hotter or colder? I don't know over time The second question you have to ask well if it really is getting hotter or colder Is that a problem is that bad because maybe the temperate agricultural zones would just expand a little bit as we got warmer And the sea levels would rise very slowly and we'd adjust or you know I think if you read a lot of people to say getting colder is actually a bad thing because it reduces the temperate Agricultural zones, but I don't know so that's the second question number two is is it good or bad? The question number three is are humans the cause of it Okay, that's a big one In question number four even if one two and three your answer is yes, and humans are the cause of it Are the things you're suggesting are the trade-offs worth it? We're gonna get banned fossil fuels in the next ten years. Okay. I like to drive a car I don't know about the rest of you guys I'm not really into walking everywhere And the idea that we're going to simply get rid of fossil fuels in 10 or 20 years would cause absolute impoverishment of huge swaths of the world and It's interesting that those of us in the West who are further along with you know certain green technologies and solar and all this You know, we're gonna have we're gonna be okay because we're gonna have other things, but it's those poor people in China and Africa Yeah, no fossil fuels guys. Sorry. You don't get to have a Toyota Camry. Mr. African Who came up with that? Well, you know inequality, I guess So we shouldn't get too worried though about the effects of propaganda in the 2020 election if We have some faith in ourselves and in our abilities to sort of see through all of this to see through this fog And mostly it's not just about about lying. It's also about obscuring and obfuscating It's about boosting and promoting certain convenient facts and downplaying or ignoring certain Inconvenient facts. That's that's really how media and the political class does things. They don't always lie They just kind of talk out the sides of their mouths So what can we do about it? That's always the question whenever libertarians or liberty-minded people gather the questions What can we do about it where there's the Fed or war or propaganda or whatever? and It's interesting to me that even at a time when we have more information at our disposal in our fingertips than ever before I mean look at this little deck of cards size thing that basically has all human knowledge on it in my hand Okay But yet we're we almost seem like we know less we have more information and less wisdom than ever before So I'm not sure that the internet alone is going to save our you know younger people from this this absolute Blizzard a propaganda to which we're they're going to be subjected over the next 12 months, but You know it it gives us the ability to fight back that's what this whole deck of cards does is it is a Decentralizing force in our society and some of you are old enough to remember You know you had three networks You had Walter Cronkite after your local news your local news was regimented in ten minute increments Weather sports, etc.  There was no comment section. There was no pushback Okay, now we've got a comment section now We've got pushback But the first thing each and every one of us has to do in this room is realize and recognize and accept that we're in A fight because if you don't know you're in a fight, you're not fighting very well We're in the narrative business or the resisting narrative business whether we like it or not That's just the way it is you have to accept that and say okay Okay, we're in a fight So that fight in my strong opinion Again due to the decentralizing force of a digital technology available to us so cheap That fight is bottom-up. It's not top-down. I mean Nathaniel Brandon has this great quote He says you know he's talking about your life and self-esteem that sort of thing This is no one's coming to save you And that's absolutely true when it comes to people like us who think like we do in this room No one's coming to save us. It's us. There is nobody. Okay. It's not it's not Brian Stelter and Jake Tapper and Sean Hannity You know these people these people are not friends. Okay, these people don't want what's best for us And we certainly can't count on academia Look at the state of modern education, especially higher education totally captured Entirely captured by just absolutely insane people and crazy theories a historical people So the onus is on us. We have to fight and and it's got to be bottom-up You know Murray Rothbard talked about this with regard to Hayek's idea I mentioned him earlier Hayek's idea that while we need to have sort of an intellectual vanguard People in academia really brilliant people who come up with the ideas of liberty and shape them and develop them And then those ideas trickle down to people like us and people in the media who are so-called second-hand dealers in ideas There's nothing wrong with being that very few of us are original thinkers and we're second-hand dealers and ideas and we go out there and Promulgate what the academic folks give us. Well, there's not too many of the academic folks in our camp these days and And Rothbard said no, no, no, we got to be bottom-up the information revolution Of course, he didn't live long enough to see a really flourishing internet But the inner information revolutions bottom-up and that means that all of us in this room We have to personally take responsibility for seeking out and finding the truth and disseminating it and spreading it to our neighbors Spreading it to our social media friends that that's on us. It's our responsibility No one is coming to save us and we have to do this in my opinion regardless of Necessarily the the ideological or political stripe of the truth tellers. We just need to find truth tellers We need to talk to them. We need to coordinate with them and we need to promote them You know so not everyone is a libertarian not everyone thinks the same way we do but there are truthful people out there across the spectrum There are people like Glenn Glenn Greenwald There are people like Caitlyn Johnstone. There are people like Matt Taiibia rolling stone There are people like No Me Prins who writes from the left on on the Fed and Goldman Sachs and Central Banking and Treasury There are people like Paul Craig Roberts. There are people like Kirk Patrick Sale Who is a wonderful guy who would absolutely try to school me on those four questions about global warming? He's a huge he's a huge believer that climate change is a is a very serious problem But I'll certainly talk to him before I talk to Bernie Sanders or someone like that about it And of course we have our own truth tellers we have people like Scott Horton We have people like Daniel McAdams.  Has it ever been a Worst tool for the political class to control us. I mean there's so much pushback now. It's almost unbelievable I can't I'm still amazed sometimes that they allow replies and comments on some of these On you know New York Times for example, I'm still amazed that they allow it the Atlantic got rid of it Any any organization any media outlet that gets rid of its comments, you know why You know why okay, but the New York Times still has them I think Paul Krugman can write something just Unbelievably bad and then ten thousand people can just take into task for it all day and you know You know that guy reads That's a man who needs the approval of others So in conclusion Let me just say a few things Mises had this great quote. I'm gonna just read it. I know quotes Aren't always that easy to digest when they're not on the screen, but he wrote this in 1947 He wrote an essay called plan chaos and in some ways it's the dendem to his great book socialism from 1922 And this is what I love because this really explains that Mises even understood that the bottom-up nature of the task before us He says it's not true that the masses are inherently asking for socialism Okay, he said the masses favor socialism because they trust the socialist propaganda of the intellectuals Isn't that interesting? We have to be the intellectuals. We have to replace these guys and Frankly the bar for being an intellectual has fallen.  We'll take you He says he says He's talking about the intellectuals. He says they themselves generated the socialist ideas and indoctrinated the masses with them This I love this no proletarian or son of a proletarian Has contributed to the elaboration of the interventionist and socialist program Their authors were all a bourgeois background There's anything that's as true as statementals you're over here And that's why Marxism didn't work because the working classes just never bought it the working classes never really say that's not my Economic interests and so they disappointed the intellectual vanguards in our university disappointed them So instead of coming up with class division based on income and wealth They've they've read they've you know now come up with gender and you know all kinds of identities to replace that So our task in closing more than anything is to refuse to use meaningless words and to force these people To apply language in a conscious way and in a meaningful way And so every one of us in this room has the ability to talk about the state as a predatory force in society Not as some sort of benevolent way that we organize each other. Okay, Twitter is disabused us of that clearly We need to talk about the Federal Reserve as a destroyer of wealth as something that creates instability and is a Financer of war That's what makes these wars possible We need to talk about us foreign policy as something that's dangerous and destabilizing and not only makes us let's safe And and a lot more broke and in debt as a country But also something that's going to create hatred For our kids and our grandkids from countries around the world We need it to be honest and open and talk about that but more than anything I think we need to Be of good cheer We need to recognize that we have opportunities just to disseminate information that would make literally gone Mises or Murray Rothbard absolutely astounded today the state is absolutely it's losing its control and its ability to control the narrative To a million online voices today people just like us But we all have a responsibility in this propaganda war and I think Nathaniel's brand was right no one is coming to save us So thank you very much


Millions of Americans come to our national capital each year to view these monuments to greatness, to visit government buildings. They're waiting to tour the J. Edgar Hoover FBI building, National Headquarters of the Federal Bureau of Investigation, an impartial investigative agency dedicated to serving the people of the United States. Its fundamental role to protect the innocent, to apprehend the guilty, this is your FBI. The primary investigative arm of our federal government, the FBI was founded in 1908. The scope of its responsibilities and its staff have increased many times since then. Its greatest growth occurred during the 48-year span when J. Edgar Hoover served as the agency's director. Here, in the FBI's National Headquarters and in regional offices throughout the country in most principal cities, more than 19,000 men and women of the FBI are dedicated to serving the government and the people of the United States. 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A quality over quantity approach dictates top priority in attention to organized crime, white collar crime, foreign espionage, bombings, and other acts of terrorism, police killings, and violation of rights guaranteed all of the American people. Evidence comes from many sources, from the Bureau's own network of field officers and from law enforcement agencies all across the country. The FBI assisting them better to fulfill their responsibilities to the citizens they serve. Their investigative activities are supported by the broad range of service functions and operations. Science works for law enforcement in the FBI's scientific laboratory. The scene of a crime may yield clues that can convict a criminal or absolve an innocent suspect. Samples of soil, traces of paint, metal fragments or wood chips, and explosives. Pieces of glass or even dust. Bits of thread or cord. Even a single hair may supply evidence. So might tire tread impressions or heel marks or tool marks. 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If you have ever served in the armed forces, worked for the government, voluntarily submitted your fingerprints or been arrested. Latent fingerprints may be compared with those of a suspect to exonerate him or convict him. The Scientific Services Division houses the best equipped firearms laboratory in the world. And here at FBI headquarters, there's the Great Gun Vault with its reference collection of firearms seized from gangsters, outlaws, and murderers. Devoted to the business of proving guilt or establishing innocence, the Bureau maintains close channels of communication and assistance with crime laboratories across the nation. An ongoing program of training, research, and development expands the range of the scientific tools and services available for criminal investigation use. Close channels of communication link the FBI's investigative staff with one another, as well as with field officers which serve as their bases of operation. The FBI Academy at Quantico, Virginia. On this 333-acre campus, 700 resident students, including police officers as well as FBI agents, can train and study at one time. So you've got to keep one thing in mind today. Even though this will be an all-out physical effort on your part, you must, you must have something left when you get to the other side. In other words, you cannot be completely exhausted so that you climb out of the water and collapse right there on the bank. Why go over? These newly appointed special agents, they'll spend the first three and a half months of their careers in advanced instruction at the FBI Academy. Here they will receive training in federal laws and FBI procedures, including use of firearms and defensive tactics, as their indoctrination in the Bureau's teamwork methods begins. This and other criminal justice personnel from agencies and departments across the United States, as well as from some sister nations, some attending the FBI National Academy, an 11-week training program for experienced police officers, others participating in special courses and seminars on crime and law enforcement. Concerted efforts are also being made to help citizens reduce their vulnerability to crime. Working with business and industry, with public and private organizations including local police, the FBI tries constantly to reduce the menace of crime, encouraging a vigilant public attitude of resistance to crime through personal alertness, through active support of law enforcement and our criminal justice system. Change continues in the FBI. Reason change in response to the needs and expectations of the American people, attuning the agency to current challenges and demands. 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This is the unchanging, dedicated purpose of your FBI.


contact that we want to put in primarily because we want to put in the accounts payable related to them. So I'm not going to import this time, but rather I'm just going to set up a new contact one at a time. So let's go back into my contacts here and we'll just set up our new contact and same contact fields. But now we're basically treating it as a vendor. I'm going to call the contact name Epiphone and that's all I'm really going to put in for this particular contact. Now again, I could get, I could add all this detail, but I'm basically just going to put the information I need to track the payment that I'm going to be sending to them in practice. You know, I'd have to have, uh, however, whatever format I'm going to be paying them, but I'm just going to put the contact name here. The other information is much the same as we did on the customer side. All right. So let's go ahead and save and close it. So now we have the contact in place. Then I would like to put in the balance of 15,000 that we owe them, which should also be populating on the balance sheet. And I want to do so in such a way that I can then track the payable and pay it in the normal accounting process going forward. So you could go back to your prior accounting system and look at the exact bill that you entered and replicate the exact bill, but you might not even need that much detail. You might just need to recognize the, I owe them 15,000. So I'm just going to create a generic bill that I can then use to track the accounts payable and the sub ledger of Epiphone, the vendor that we owe the money to. So I'm going to do the same thing we did with the, with the invoice and just add the normal form of bill, which is the thing that creates a payable. And I'm going to say this is going to go to Epiphone. We just set up Epiphone. I want to make sure it's as of last year, because even if it goes to an income statement account, I want it to roll over by the end of 2022 into the equity account when we get into 2023. And then down here, I can choose whatever item I need. Or I'll just say beginning balance here. And then I'm going to say 15,000. And then the other side, the other account that it's going to be going to is going to be, uh, now oftentimes it would be like an expense account. You could put it directly to equity. That would probably be the easiest thing to do. So we could say I'm just going to make it go directly to equity like owner's capital. And that way it would go there. If it went to an expense account, if you wanted, for example, to mirror the bill you did in the prior accounting system and put it to an expense account, as long as it was going to the expense account as of the prior year, then it would still roll into equity and you would be okay. So you could do that or you could just put it directly to equity here. What will this do? It's a bill. That means it's going to increase accounts payable. The other side's going to go then to equity because that's where we told it to go. Normally it would go to like an expense and then it'll also track the sub ledger by vendor who we owe money to, which should tie up to the accounts payable. All right. So then I have to put the amount in here. I need to put one 15,000. There's the 15,000. Okay. Let's approve it and say Mui be in for it. All right. And then if I go to the tab to the right and we just update, update to get it to see what's going on and what's happening around here, there's the 15,000. If I drill down on that 15,000 in the accounts payable, then we see it populated with a normal form that it populates with that being a payable invoice, which is like a bill, right? There's an invoice and a payable invoice. So that looks good. The other side is going to the owner's capital. So okay, let's go back on over. Then if I go into my income statement, I didn't put anything to the income statement at all in the prior year or the current year because I just put it to equity. So then if I go back to the balance sheet, the other side, I put into the owner's capital account. So if I go into that, then we have our activity and there is our invoice payable. Okay. Boom. Looks good. All right. Going back up. So now it looks good on this front, meaning we now have the balance, the beginning balance in place and look like it populated it with a bill. And then when we actually pay the bill, we can track it just like we normally would. So if I go back into my contacts, for example, all contacts. So here's our contact list. And then here's the people we owe money to, I can hit the contacts and go down to the suppliers or vendors, whatever you want to call it. And there's the 15,000. And now it's tracking basically the sub ledger of accounts payable. And the next step would be to pay the bill as we normally would. Alright, so if we look at the summary here, so now we've got our accounts receivable, our inventory, our accounts payable, and our strategy as is working that looks like here, we're putting all our beginning balances in one at a time, dealing with any sub ledgers that would we would be necessary to deal with as we do so. The other side going to some kind of equity account. And therefore once we're done with all of these individual accounts, the total equity will balance. And then we can just do a journal entry into the equity side to break out the equity to whatever accounts need to be there within the equity account. So for example, we might put everything into in our case, the retained earnings, because that's the account that zero is using to roll over the income into. So we'll talk more about that in future presentation.


Hey everybody, my name is Sam Walker. I'm an engineer at Aeroswap. This is a workshop about key space, which is a protocol for antenna encryption using Ethereum and IPFS. Before I get started, I wanted to give a bit of a prologue for putting this piece of technology in kind of a larger context of what I see of kind of emerging technologies. So the inspiration for key space first came to me about a year ago when I was listening to a podcast by Arthur Falls called The Third Web. He was interviewing a developer named Dominic Tarr who's the who develops a distributed social media network called Secure Skeletal, but if any of you are familiar with that. But the thing I really liked in the interview was he talked about this concept called Cypher Space. So Cypher Space is what he sees as kind of an emerging style of application development on the net or on the web that has a kind of a proper abstraction between the networking layer and the application layer and that proper abstraction is enabled for the first time really by use of different cryptographic parameters. I think that having your application logic divorced from your network, networking logic looks kind of like GraphQL in that, you know, you can kind of specify what your application needs, but you don't have to worry about how it gets to you. So I think some more concrete examples of like what Cypher Space is and how this kind of development methodology is going to play out in the future. It's going to be made clear in some later examples, but just to have that context as you kind of wash this presentation. So this is the agenda. We're going to start out on a high level and just answer what is Cypher Space. So why was it built and what are its core components? Then we're going to zoom in a little bit more with the in-depth technical description. So there's kind of three main stages in the user lifecycle within the protocol. We're going to work through each of those. After that is the fun part. We have interactive examples. There's kind of a demo that you all can load up on either desktop through your phones, and we can kind of do some peer-to-peer encrypted group messaging amongst each other. And then after that we'll have some time for questions or exploration to see, you know, what we can do with this kind of protocol. So first definitions. What is key space? I think the simplest way to sum it up is that key space is a trustless open PGP implementation built on top of Ethereum's existing cryptographic key tooling. So some obvious questions come up from this definition. First of all, for those unfamiliar with cryptographic protocols, what is open PGP? And secondly, why do we need open PGP on Ethereum? So PGP stands for Pretty Good Privacy. It's an encryption program that provides cryptographic privacy and authentication for data communication. PGP is used for signing, encrypting, and decrypting text, emails, files, directories, and whole disk partitions, and to increase the security of email communication. So that's just the definition of what it could be. So PGP, a little background, it was developed by a cryptographer named Phil Zimmerman in the 90s. It was first developed as enterprise software. And in 1991, around 97, Phil decided that this would only work if it was open source, so he started the open PGP initiative. Then around 2014 is when elliptic cryptography was added to the protocol spec, which is much wider weight than the older forms of encryption of the protocol used, like RSA. This kind of lighter footprint allowed it to be more realistically used in the browser. So openPGP.js was added about the same time, kind of opening the door for end-to-end encryption screen-to-screen encryption. So you know, there's no... about the same time, kind of opening the door for end-to-end encryption, screen-to-screen encryption. So, you know, there's no, you know, it's kind of the standard of encryption that we like to have today, which is usually like a telegram or signal or other things like that. So, why do we need to bring PGP on Ethereum? So, a little background, this came to be because of specific kind of business needs that Areswap had. So, in kind of the history of like DEX development, the first popular DEX is like Ether Delta. All the information was held on chain, like in the smart contract. So, with order posting, order matching, and order settlement, all happened on chain.  So, protocols like Areswap, ZeroX, Idex, DEX is HydroProtocol, and DYEX is Nebulant Orders, all kind of use a similar approach for gas saving where an order is signed off chain, it's posted somewhere, matched off chain, and then settled on chain. So, on Areswap in particular, the way that the protocol works is that order hosting happens period of year. So, makers send orders directly to takers. Matching happens when the taker decides that they want to fill the order, and then the actual settlement happens and the order is filled on chain. But since all of this is being moved off chain into messaging, that messaging has to happen somewhere. There's a possible information asymmetry that arises because like for example, if Areswap is hosting a messaging platform, then we kind of have a global view into all the messaging that's happening that could potentially give us an unfair advantage of seeing the trade that's gonna happen before it happens, or a GC-style interaction where you can see people negotiating a trading context. So, to kind of eliminate this kind of unfair angle or this unfair view, we need encryption. So, if all messages between makers and takers are encrypted, then they're the only ones who are able to see it, and there is no kind of global view to exploit from the angle of being a more technical party or kind of having a global access to the system. So, we need both encryption for that reason, and then we need authentication to basically tie the messages that are created to a particular viewing address so that if somebody is being abusive in the messages that they send, for example, trying to de-auss the network, we can say, okay, these messages are cryptographically verifiable as having come from this address. We're gonna disable, you know, that address can't send messages anymore, and then we can kind of see if assets transfer between that address and another address, we can basically figure out who's using the network or have some standard where we can have economics incentives for behaving correctly. So, obviously, by authentication, I just mean a signature and verification of the messages. So, there's a lot of different cryptographic protocols that you can use for authentication and encryption of messaging, but PGP seems like the right choice for multiple reasons. One of the main ones is that it's the right age, and what I mean by that is that it's been around long enough that it's fairly safe, it is, you know, very robust, it's used all over the world, and it's been around long enough that it has a great tooliness associated with it, which kind of helps on the developer lift of infamining a protocol like this. But then it's also simultaneously new enough that it uses cryptographic algorithms like elliptic cryptography, which is way enough to use in the browser without negatively impacting the user experience. Okay, so that's kind of the high-level view of why we needed to implement this trustless version of PGP on Ethereum, so we're going to zoom in a little bit and talk about kind of the specific implementation and how it looks and feels for a user. So the first step in that is a key generation in recovery. So what this means is that we're trying to deterministically generate a PGP key pair from an Ethereum key pair such that we can verify that this Ethereum address generated this PGP key and that if the PGP key is lost, for whatever reason, we can regenerate it as long as you have control of the wallet. So kind of a practical example of this is if I have my ledger and I generate my keys on one computer and I use those keys to read my encrypted messages, I can then terminate that session, wipe out that information, plug my ledger into another computer, regenerate my PGP keys and use them to decrypt the same messages. So it's kind of a stateless in a way and it's deterministic and so that's just kind of one of the properties we wanted to have in the system. The next step after keys are generated is a key distribution and lookup. So if I want to send a encrypted message to you by knowing your Ethereum address, I have to have some way to look up that Ethereum address and find your PGP key and I need to be able to cryptographically verify that that is indeed your PGP key which I can then use that public key to your encrypted message and send it to you. So there needs to be some sort of directory basically. The initial implementation of this actually for us was a smart contract. So you basically stored your PGP key on IPFS, took the IPFS hash of that key and stored it in a smart contract and then when I wanted to find the key associated with your address, I would just look it up in a smart contract. Pretty soon though we discovered that there is like a whole swath of users who didn't want, who wanted to basically try an application without paying gas upfront. You know as soon as like you have to pay for a transaction they weren't as interested in using that application. So there's another alternative way of storing these keys where instead of storing a contract, you sign it so that you can verify it as yours and then the signature together with the key can just be stored in any database and since that signature always exists next to it you can just pull it and look it up. It doesn't have the same guaranteed availability of the smart contract. So currently that database is hosted by Areswap and if Areswap went away then that database wouldn't be hosted but for those users they would just have to regenerate their keys and they could begin using the system again. So there's kind of different options of like based on like the longevity, the dependability that you need and the level of trustlessness that you desire. You can either pay more for that or kind of have more of a low investment alternative. So the third step in this is passive authentication and privacy. So after everything's set up basically, keys are generated, they're distributed and they can be looked up then we can use them at the application level without really having to understand anything about the underlying cryptography. So just all messages between periods that have the simultaneous guarantee of if you receive a message, you know for sure that the Ethereum address that sent you that message is who they claim to be and when you send a message that nobody other than the Ethereum address that you intend to read it will read it. So that's kind of like high level. Oops, I got out of a worry. So zooming in on the key generation. So there's actually some, we're not the first people to kind of come up against some of these problems. And a lot of the, many of the cryptographic libraries that wallets like MetaMask for example depend on like provide methods of deriving secondary keys from primary keys, but unfortunately there isn't an RPC spec for kind of exposing these methods to like the end user and adapt. But so the way that we get around that is key generation happens by taking the passphrase which is just the plain text word or set of words and then signing it and then using that pack string that's generated as kind of the encryption key for that encryption private PGP key basically. So openpgp.js when you generate a new key bear you have the option to pass in the passphrase that's kind of the encryption password. So that signed message becomes the encryption password for your key bear basically. So that's kind of a low level of how those two are associated. And then once that key is created IPFS provides kind of chief reliable storage. So the way that works for us is that we store the IPFS, we store the key bear and IPFS in like basically a redundant set of nodes using the pin set. So, you know, they go from infura to pinata to our own IPFS node to Cloudflare and some others. So we kind of use that pin set to like replicate across all those nodes. So that kind of makes these key bears reliably available without having to store them like on a smart contract basically. So key distribution. So this is kind of like the directory or the index that I talked about before. I think I actually covered most of this already but one thing I wanted to touch on was this idea of multiplexing which is an idea that kind of comes from with B2B basically. So if there's basically like, it's kind of like function overriding but like on the network level. So if I want for example to request some information and I shouldn't have to care about how that information is stored or how it's fetched I should just be able to, you know, ask for it and have some guarantee about how it gets to me. So kind of the multiplexing in this case is that we have keys that can be stored on a smart contract or keys that can be stored in a database and when you look up you kind of do that look up of both the smart contract and the database in parallel. And on the application level, you know, you don't really care about where that key is stored. You can just use it. And this also allows for the addition of other types of data storage for distributing the keys. One of which we use in our demo which is coming up shortly. So, Authent privacy. So this is kind of the last step in the Azure lifecycle. So this is like after everything is generated and distributed we can just enjoy the benefits of everything that the OpenBGP library offers. So on keyspace, on a keyspace class there's four function types that are pretty much everything that they're gonna use. You have an encrypt which takes a message, a plain text message and the address that you're going to send that encrypted message to. Decrypt which takes an encrypted message in the from address so you can verify that it was sent by the address you plan to send it and yeah, then you can just get the decrypted message that's meant for you. And then we also in isolation provide sign and validate as well. So that's all for the high level review. Now is the fun part which is the demo. So this demo will work on both your laptops and phones as long as they're connected to the internet. So you can go to the top link there where the live app is on the airstop.github.io slash keyspace slash devcon. That's where that link is not shorter. But originally this would be kind of a lot cloning repos and interactive coding and kind of I saw like all the network limitations we see that have here. So I just kind of spun up this app quickly which I think should work on, I tested on tree throttle internet so it should work all right. But I think this kind of will give us a view into kind of like the inner workings of the protocol without having too much of a bandwidth limitation. So I'll let everybody pull it up, walk everybody through how it's working. So it's basically just a, it's a React front end application that uses IPFS Pub-Sub to kind of have group messaging. So one of the cool things about this is that it's a group chat app that doesn't have any central survey to it. So basically everybody's fair and in laptop kind of in the room is kind of going to be networked together and it's kind of form a peer-to-peer chat application. Oh yeah, and also sorry I should have mentioned. When you first load the application it has an option to connect to MetaMask which that'll also work in like a lot of trust. You can also just generate a wallet inside the app, generate a temporary wallet which will, you can still use that to communicate since it doesn't currently use any gas.  Okay, all right, so I'm gonna get to these steps myself. I'll generate a temporary wallet. So I'm the only peer that I found so far. Hopefully over time I'm gonna find all of you. Is our other people at this screen after generating the wallet? Okay, hey, there everybody. Okay, so I hope the mobile display still works with all these addresses and I wasn't able to test with that many people. Okay, so I'm gonna be Sammy. Okay, so, whoa. Okay, so this is everybody sharing their PGP keys with each other. Okay, I definitely have not tested it with this much scale yet but it seems like it's working okay. Yeah, okay, so I can go into a little bit of, I can go into a little bit of what's going on here. So basically this front tab, I think it says peer on your fan on the desktop it says peer discovery protocol. So basically this is a, instead of using a database or a contract to distribute keys, we all connect to the same IPFS Pub-Sub topic. So there's basically one IPFS server that we reach out to and say, hey, I'm listening to this topic. Then when other people connect, they also reach out to that same server and say I'm listening to this topic and we kind of find each other all through that way and then peer directly with each other.  So it's kind of like a many, many messaging system for kind of building this dynamic database of keys. And like, so as you can see the more people that are added, the more messaging, the more people are requesting that everyone's keys the more messages that are sent. So that's just kind of go crazy probably right now. So then down here on the no one peer screen, oh yeah, I definitely did not design this for this many people to use. I built this like yesterday. So you can basically choose the keys or the identities that you actually want to send encrypted messages to. And then when you, I'm gonna say hello, sorry to the people that I didn't use that, but just under the example. And so then basically everybody that I selected will get a copy of that message that they can decrypt but everybody gets everybody's message. So, but the thing is is that only the people if you buy encrypted that message specifically for will be able to decrypt it. I'm gonna refresh this page because all the people joined have broken my view. So to take it kind of back to the original, that's kind of what I built this application of an example of. So the actual data transport like layer of this application is completely public and anybody can read it. It just, it takes place on a public IDFS topic but there actually is a complex application logic of permission to group chat happening in this public forum. So this is kind of the idea of Cypress Base that we can kind of divorce application logic from transport network logic and even database storage logic. But we shouldn't have to care about where the data for this application lives. All we have to care about is availability that part still hasn't really been solved yet. But, and then just write our own application logic using these different cryptographic primitives to kind of enforce the rules of our application. So this application, it's sort of a bit of fear. It just exists on all of our phones and our laptops in this room. And we're basically sending each other plain text messages but then all these different cryptographic tools kind of allow us to have a structured application built in this really simple context. So, oh, and for those of you on desktop, it's gonna really fit in the mobility but you can actually look at the key space parameters that I kind of talked through in the first portion. So you have like, you're on the sign-seed. So this is like what you sign to generate your password. This is the password that basically encrypts your private key. Then this is the PGP public key and the encrypted PGP private key. So these are kind of the building blocks that we're using to build this application. Try to think if there's anything else about this one. Oh yeah, the nickname. I can't get to it because there's so many people now. But as those of you who have said it, the nickname exists as one other type of specialized message on the network so you can kind of announce your nickname when you announce your key here. Yeah, that's it for the, oh yeah, sorry. I have one other thing. So if you have this loaded and you actually wanna look at some of the code for the application, you can click the question mark in the top right and it'll open up to GitHub. Kind of talks a little bit about what it is. Links to the application, links to the slides and the slideshow, and then links to KeySpace, which is bundled as part of Airsoft.js. You can look at the code for the application even though I wrote it really fast, so it's not very good or it's messy. But I would instead suggest that you actually look at the KeySpace in the Airsoft.js library, which actually has some better examples of documentation and it's easier to use. So yeah, if you wanna include KeySpace in your application, this is where you would go to figure out how to do that. Yeah, I think that's it for my demo. I think, yeah, so my epilogue is about putting it in the context of Cypress Space and this kind of application, right now it's running in public on IGFS, but it could be running on any kind of transport. Any messaging system, you could have any crypto messaging system built inside of it and the stories can happen anywhere. So I think that the initial Airsoft trading network was built on RabbitMQ and it's easily affordable now to IPFS because of that separation of concerns that we were talking about. So I think that, at least what I believe is that, I think that if we follow kind of this paradigm, I think that applications that we built in the future that are intrinsically tied to a certain type of web transport layer, like for example, fetching data over HVP, fetching something from WebSocket, it's gonna start to feel like spaghetti code. It's gonna start to feel like expensive and full of tech debt because it's hard to port. It's hard to, you have all these assumptions in your code about how the data comes to you and how it's available in the kind of areas that will happen when you fetch it. And I think that with this kind of approach to building applications, you have a separation of concerns such that you can actually port your application to different types of transports without having a lot of tech debt that you have to resolve. So yeah, that's it for my presentation. I have time for some questions. Thank you. Why did you choose to encrypt the key using a password rather than using the 50-helmet elliptic with the elliptic curve that you already have from your hearing address? I think it's because it's not available to DAP users over JSON RPC message. It's not part of the standard JSON RPC message format for interaction with a private key, basically. So the only cryptographic function that we have available to us as people who build applications that work on top of wallets are basically like personal sign, send transaction. There's a lot of cryptographic primitives that would be useful. When I was first building this and I didn't need it for encryption, I wanted to actually, I was like, well, why can't I use the Ethereum private key to encrypt data or decrypt data? But theoretically it's possible. Those functions are in the underlying cryptographic libraries that a wallet like Ledger or MetaMask uses, but it's just like the spec for making those functions available is far away. It's gonna be a long time until anything like that is. So this is kind of like a way of working around that limitation. Do you have to sign the same message every time to get the password? Yeah, so basically kind of what I was talking about earlier, like there's a bunch of different types of users who wanna use an application like this. Some are more hardcore about like their privacy and some people want something that's more convenient that they don't have to think about very much. So if you want to, for those users who want something that's very convenient and they're not as like worried about privacy, basically you can just kind of sign a default phrase that we choose and kind of provide to you every time to sign. So then it's kind of like, you don't have to remember the passphrase and you can kind of deterministically regenerate it. If you want another layer of privacy, you can choose your own passphrase.  But that's available for users who want a better layer of privacy. Yeah. Can you think of any practical use cases to employ key space apart from the example you just showed? So it's one thing that, the initial implementation of PGP like functions, it uses this concept called the web of trust to function, which is basically like people can trust PGP keys if other keys that they already trust also trust that those PGP keys. So like when the protocol was first developed, all the academic nerds would have signing parties and get together and trade PGP keys in person so they could kind of have that base level of trust and build this kind of trusted network. And then off of that, they built a larger network and it was kind of like, that was how trust was built. Initially, which is kind of actually now a site is kind of, it's more of a critique of PGP that that's kind of like a limitation of the protocol. Key space is more limited in scope since it's only about instead of binding identities to a real person, you're binding identities to an Ethereum address basically, but you don't have to worry about that same kind of web of trust, which has some kind of scalability issues. But I think there are some interesting opportunities with like connecting the systems like key space, not key space, key base, where like identity and a cryptographic key are already bound by other means. So then it kind of like allows you to use PGP and more modularly, where you can kind of strap it onto other existing networks of trust basically, as long as they have cryptographic capabilities. All right, that's it. Thanks everybody.


Hello traders. Hello everybody. JTrader here. Bookmap session. We're gonna start in a few minutes. So welcome everybody. A few minutes to start. We're looking over here at Tesla today. Feel free traders to ask questions. We're gonna go over a set of the rehab today on stocks. Mainly over here looking at this daily level on Tesla. So I'm watching here price section on Tesla. This morning we failed. Key level over here 190.60. In the last couple of weeks we've been uptrending. You can see over here from the starting of March. Major dip in the 160s. Then bounce over here from this main key level 185. Extended to the 208. So I went to touch this previous area of supply. And this morning we're back down to this major dip. You can see over here daily level. What's happening this morning. We're simply down trending over here. So 930 it popped. Was looking to short into this resistance. Didn't get filled. We start seeing lower highs, lower lows. A lot of liquidity over here into the 189. And then setting over here a base. Demand over here around 188. It started to bounce for almost one point. So for counter-trans traders this is a good point over here to start looking for a bounce. But then we broke. Ten o'clock we had some news. Push into this previous liquidity area. Back down over here to the 187. Which is this key daily support level. Okay. So good morning traders. Good morning everybody. As I said feel free to ask questions. What are you looking today? Where are you going to trade? Over here we have an example of a trader in the room. She took a very good trade in the 190s. You can see the pop. She's shorter over here. Cover into these dips. Cover more into these dips. Using bookmark levels. Morning Zed. Morning Vikram. Tony. I'm seeing over here now this daily level. We're having a good amount of liquidity. So we see over here dip buyers at this point. But at the same time I'm also watching yes. Which broke that previous support 41.16, 41.17 came to the 41.14 and now bouncing back up. Morning Steve. Good morning Suiza. So with your strategy work alike on Forex markets. I back tested many years ago before trading US stocks in small case I would say. We're trading only futures cover warrants in Italian market. And US stocks like the big caps. Yes I look at you know areas D, DBPSD, all of this. And I back tested the system on 6B6C. So the futures are right of own currency. And they work very good. So generally what I suggest is to take the strategies that I teach. And then simply learn under the flow how I teach it. Apply them together. Journal your trades. Start practicing demo. And then when you see that you're consistent. You start trading them live. You can also look to take a one-on-one with me or a mentoring. If you want that I follow you on a daily basis. So over here traders. I'm not a counter trend trader right now. Because as I said this morning we had a major unwind. We are below the previous trading range. We can put over here our level. So we broke this and we simply unwind. This is a first support. Like we have a support over here. 185 and 40s. And it's true. We had over here a nice heat map. Just at 187. So at this dip if I'm mostly a scalper I can take a position looking for that bounce. Okay. But this is still not the reversal over here. I will need to see more confirmation on a five minute chart which I'm going to put right now. And seeing higher lows. Is that right now what we're doing? We're simply consolidating at this area. Yes. Yes. Pull back over here to the 4120s. I'm going to filter over here through to some of the noise on Tesla. There we are. Much better. Right. So we can see somebody here was guiding down the price. Absorption. We got very close to this 187. Then start bouncing. New seller over here in the 188 and 20s. So double bottom this sense on Tesla. But again I'm not divine over here. We're still in a bearish structure. What I mean 189 is the first main resistance that I'm watching over here on the chart. So I'm looking at how the price will react at this level over here. 189. If I see some high liquidity then we can go over here and look for a short or at least this is what I'm looking to do. So this morning I was training a trade over here at the Academy and I just want to spend two seconds to explain about risk management. This is a trade that the trader took over here into this main dip. We were using a major level over here on book map. You can see the level of 205 and the trade over here started seeing this girl. We started seeing over here some liquidity placed around 2204 through the field over here is trade. Then we started seeing more liquidity. Consolidation pulled back to this major liquidity 2018. This is really where we want to see the price holding. You can see the previous high now becoming over here support and then pushed over here to 274. So it broke this high. So the trade over here in this case FRGT major win for the day. We were calling this in the room in the exact moment that the trader by me was taking this and why this? Harlow's not fading, getting into the 10 o'clock time, seeing absorption on book map and you can see over here this move. This is your squeeze right? Aggressive buyers over here and then at this point in 1024 simply goes parabolic. It goes from 230 directly over here to 280. The other one though, the one that didn't work. So let's show also this. This is the other trade that the trader over here took and this is IFRX. We can see book map over here on IFRX. So it's very important in this market understanding how to use a correct risk management. I believe that the only way to be profitable is not to have a win rate about 90%. I mean that helps, okay? Or having on every single trade despite your win rate a 5, 6R. The most important thing is having a risk management. So this morning and this is a small cap IFRX. I've been up also. I've been up different times. We traded this in the past. In this morning you can see it's greater that we had this dip at 4025. We started to push over here and it went to 525. So this is a nice move 15-20% in about 45 minutes one hour. I want to go to 845 because it was a setup that we actually missed. So you can see here that we went to a major support, right? So major support over here at this 412, $4. The price unwinds. We have a first bounce. Price unwinds again. We have a second bounce. And then over here we don't see any more sellers. These sellers, you can see here, here, this in 6 minutes. They start over here being all absorbed. And then right away we start seeing like blue dots. In this case these are buyers. And we're talking about this level over here around 415, 420 and 845 time. Look now the buyers coming up. Big buyers. So this move over here went up for 70 cents, almost $1. A small pull back and pushed over here eventually to $6 today. $6 plus. So what happened over here around 945? So we had this price section and this is a nice squeeze, right? You can see dip 540, extension to 585, right away dumped. Then you can see the buyer over here, okay? So liquidity is holding. Wall of buyers over here is holding. This main support 540, which is that pre-market highly area. You start forming high lows. At this point over here at this pop, and on this stuff over here, you can see that it went again in a climax over here. Almost that resistance is 6. Big seller over here plays. Wall of sellers. The trade over here shorted into the 580s. And then it was pretty good in the money, okay? Around $0.35, $0.40 average in the money, which is a good profit. But it didn't take anything over here. We're looking for the low 5. So this is the dip that we had. This over here you can see the major wash. This wash was bought up. So we have essentially a bear trap over here, right? Price simply dumped. Over here we have major sweep. I would say over here, sorry, I would say over here, a lot of sell stops occurred. So a lot of longs over here went out on a stop loss. Bear trap wants to reclaim the 540 level. And again, this 540 level, we are talking about the pre-market high over here. So when the price went back over here to this area, the trader simply stopped out with the minimum loss. I mean, look what happened eventually. This went parabolic, 650s, it halted over here, and then went again over here to 7s. And then what I did, major rock pull over here, exhaustion rock pull, boom dump, and again halted again. So be aware that these trades are highly manipulated when you trade in small caps. So most important thing over here is risk management. All right, any question on these traders? Let's go back now to Tesla. So anybody trading Tesla today, essentially that daily key level over here is such an important area. Looked at 187, new bar stepping in. Moe, I totally agree with you, but I also can tell that there's a lot of big potential money to be made. I mean, look at this trade that the trader took, okay? So 210, it went to 270. So we're talking about what, 30% return in about 30 minutes of work. Now you can tell me, Jay, can you do the same with options on Tesla, for example? And that's fine. But you know, it's also a good asset to trade. If you have, I would say, a good understanding of the manipulation, because when you trade big caps, blue chips, or futures, the price section that we have over there is totally different from the price section we have a small cap. I had, when I started trading small caps, I had to simply study more than one year, bed testing and journaling, every single setup that I was looking at, because these were totally different from what I was used to trade. I was trading FTSE, the FIB, the Italian Future Index. I was trading CL, ES, NQ, some big caps, but nothing like small caps. And I started studying everything out there, really being humble, back to the basis, because I was just interested. I was saying, maybe this is something like, you know, that I really feel like doing it. And eventually it worked. But before being able to trade these profitably, I had really one year of studying bed testing and then finding the setup that worked. And they're occurring again over months and years that they're working. Now, big caps, don't get me wrong, are less manipulated. We have definitely more trends than when we find in small caps. Small caps are basically day one, day two, a pump, and then they dump. Generally 90% of small caps do that. They fail, and day one, day two. Small caps have a small flow, a small market cap. They generally have a big offering gone. They have low cash, possibly history of dilution, toxic companies, so toxic financials. While on big caps, the structure is pretty different. We have a bigger flow, bigger participants. So they're still manipulation. They're still algorithm. But the way that they perform their macro structure is totally different. Okay, so just this I wanted to say. Jay, I'm trading right now small caps, not today, but I'm trading small caps, big caps, and futures. I would say that it depends from very personality. There are traders who like to trade small caps because or big caps, because every day you can follow three, four, five, six stocks, and you can apply the same one or two steps. But then there are also traders, for example, in my room, that they trade only one thing, maybe only yes, or only Tesla. There are a lot of traders in the room that trade only Tesla. Or only the other one they like, what is Amazon? Okay, so personally, personally, I believe that I like to trade more than than one asset. But in order to be profitable, you need only one thing.  So those are the main set of that. The market is given right now. So I'm looking over here, Tesla, and yes, why I'm looking at this? Well, this morning, we had, I had on my watchlist, Meta, Amazon, Tesla, and yes, four big caps and futures. I also look at NQ. We had relatively different, so we had different relative strength between Tesla, Amazon and Meta. Tesla following, I would say, pretty good ES this morning. Meta and Amazon was doing a different part section. So they had a different relative strength. Right now, if we see both Tesla and ESR below the VWAP, Tesla over here found that support at 187. As we said, it's a daily main daily trend line. Okay. And we see sellers stepping in. At the same time, ES went below the previous day low, okay, and which was 41, 15, and a quarter, if I'm correct, it went below the pre-market low that was around 41 and 17. So what is doing over here? They're essentially holding that area of support, both on ES, both on Tesla. Now, why I'm not longing over here, because besides of a scalp 187, which is still good, you know, like taking a scalp, I prefer to take the big trend. You know, I'm happy if I take the big trade. So big trade means or you find really a level of confluence where you can simply load the boat and you know that from that level we'll start possibly a trend or you simply look to trade in the direction of main trend. So we are in trading, you have to maintain counter trend or trend following. That's it. Counter trend or trend following. This is for me, what means trend following. Bind the dip and then holding. Okay. Or this over here, this is counter trend. So we bought after a major unwind and then we shorted over here into a fake-out push. So two main ways and you can resume all the trading you will ever do in your life in these two main ways. Counter trend, so reversal plays essentially and that could be pivot rejection, support resistant rejection, fib rejections or trend following, simply following the trend. So once the trend is established on a hard time frame, you end to win it on a lower time frame direction of main trend. Both are, I would say, very interesting ways to trade. Really depends what you can do best. Tesla is giving over here traders a nice curl down. Yes, attacking over here for new lows. So we are trend following right now, okay. We are trend following over here. So we saw the main key area at 187. Now if you look over here at the price action, we had buyers down here. But look also every single pop that is being sold right now. Okay. So we're still in a bearish over here scenario. Lately the majority, yeah, me neither Jay. Lately traders, the majority that I see from traders is that when there is an established trend, they're always that I would say mental imprinting to buy the reversal by the dip, you know, market is unwinding, you have to buy the dip by the dip by the dip. And that really is a wrong mentality because on a breakdown like today, you can see over here, we broke this previous day low. Okay. So we didn't break over here, the pre market low, which is this one, actually, sorry, this is the previous day low, we didn't break this level over here. And right away, it started bouncing. But here we are simply unwinding. If you look at these five minute bars, they're making lower highs or lows. Now it's true, we found a major support where you can scout the 187, you can have your $781 over here bounce, but I prefer to stay with the trade. And I shared with you before what for me is an A plus setup. So this is it. So shorting, following the trend. Okay. This is again another trader shorting, following the trend. This is another trader. So we had this morning in Vidya, bearish, shorting, following the trend. Actually, over here, very good trade over here like this. We hear the long, we hear nothing. This is the other days. Okay, so I'll always be careful to short when we have a bullish trend or too long when we have a bearish trend. As I said, yes, below 41 and 15, my target is 4100. And this I was sharing in the room this morning. So having said that, if yes, we'll continue this on wine, 4100 is the target, we can have Tesla ideally going to 185, which is this other main level over here. All right. So that's my target. 4109. So breaking that support. Now we're looking at, as we said before, 185 and 47. So we broke actually the daily trend line. You can see aggressive sellers jumping in. Once you broke the support. Unlike UJ, I simply love when we have a straight direction, you know, like what was last Friday on Tesla and ES. I love the direction. So when you simply can shore some pullbacks in the direction of the main trend, going down, holding, that's easier. So we can see another good trade over here on NVIDIA. Well done. So again, traders, we got this support over here, right? 186 and 50s. It's a major liquid area, but I don't see on my chart that level as my main target. On my main target, on my chart, I'm looking for this 185 and 40. Okay. So I would say mostly it's just a liquid area over here. Jay, you mean you took some scalps long or scalped shorts? So it's nice traders. If you also interact with us. Okay, so short. Yeah. Yeah, I like the idea. I like the idea. I mean, this morning, we had, look over here, the trend, right? In the last three days, we had a fail over here. We had a fail on Tesla from these highs. Okay, so we had a gap down here. This was Friday. Gap down here. It popped. Rejection failed. Yesterday popped. Rejection failed. This morning, we're continuing with the trend. Didn't even pop. Simply dumped over here. So when we have this kind of price section, which is bearish, we can simply look to short of these pops. Okay, traders. So let's see if we can get to this 185 and 40. But again, for the traders that this morning, follow the trend over here. Once we broke that previous day low, beautiful, beautiful action, beautiful action. So we can see the levels of heat map, right? They don't tell you buy here, buy here, buy here, buy here. There are levels where we have buyers, okay, or covers placed. In this case, it bounce from here, it bounce from here, but it will take small scouts. Well, if you find a trend, and you can short those pops, like Jay was saying, your possibility over here for a major unwind and a major profit, bigger profit is much, much bigger here. Okay, so stick with the odds and try and follow when you have these moves. Remember, the most important key for me is that we are below the previous day low and we're downtrending. So they're getting to this 186 and 50s. I don't see any kind of support dump over here, 186 income is coming and dump almost to 4100 right now on ES. Our target is coming over here, traders. Our target is coming. Again, every single time we find liquidity will bounce. But until ES will fade, Tesla will continue to fail. I wanted to talk also today about AI, AI, sorry, Meta and NVIDIA, but the price action over here is, I would say, very interesting on Tesla. Remember, trend following, that's the target that we would like to see 185 and 50s, 4103 and two quarters over here on ES. What an amazing price action. So again, imagine if you didn't stop on these longs over here, which as I said, there are good scalp opportunities. But remember that when you start seeing them to break, you have to get out. Okay, we are trend following over here. Price action I would say is pretty clear. Each bar making lower high, then we have a first pullback. Second pullback over here is even better, because we have this beer flag, you can see here, two bars pulling back. And then you have also be here, the volume, right, getting lower on that first pullback. And then when we start taking the trend, volume is rising again. So this is just trend following over here. 186. Chairs, what do you think? This is really, I'm asking about, I'm religious. What do you think is that bottom today on Tesla and ES? Because I have this level 4100 on ES and 185 and 47 on Tesla. But we can also start looking if we will continue to make lower highs or lows for more possible targets. So James is saying 4186. Yeah, I stay with you. But let's say we break that, buddy. What are you looking at? I would be looking for this 180. And then this level over here, 176. So why 180? Because we, of course, it's a whole round on a number. We see over here rebounds were rejected. So I would take that into play. Michael is saying 185 and 68. Okay. But in case we break that, what is your next target, Mike? And this would be my next target over here. I mean, if you see something else, just please feel free to say your opinion. McLovin is saying 185 and 40s that has multi-touch pivot. Okay, I see that pivot, buddy. All right, I get it. Okay, I see it. We had even one at 189 this morning that pivot, but it failed and then we rejected. 185 and 50s. So it's getting hotter over here, the scenario. Charlie is saying 183, where there was consolidation before. Thank you. Jay is saying, unless we had a lot of weakness, I think 185 and 50. I'm 495 vs. stuff to break. If we break that past the 180 stuff, because we had a lot of activity there in Tesla. Yeah, it's always hard, you know, like we take a trade, we take a short, like this morning, this was Irish, okay? She took the short over here. It's always hard to, you know, cover everything to the perfect point. I mean, if we would find that out, it would be amazing. And I have a system that tells me when to get out, but it won't ever be the perfect bottom with my full size. And managing the exit is as important to manage the risk as managing the risk is managing the entry. Because of course, we increase profit factor, our return per trade. So we make more money. Okay. And Mike is saying 180. Thank you, Mike. So what I mean is how you, and this is a question that I ask you traders, how you trail, how you set your profit targets? For example, are you scaling out 25% in 25% at key levels? Are you using a lower high scenario system? Are you using, for example, a 90 MA or 13 MA for a trade like many traders do? What do you feel comfortable using? I would say that sharing this, this part of here is very important not for me, but for everybody. And I will tell you if you need what I use, but I'm just really interested in what you're using. 185.4104 here and yes. So yes, they're the same place in the last minutes, but Tesla's still unwinded. So over here we have Jay is saying I'm a huge partial profit taker and I use 20%. Okay. So getting out in 20% blocks, we can say, or partials. Anybody else? 180.450s. So we're below our main target.


Well, as part of its ongoing effort to rescue human trafficking victims and bring traffickers to justice, the Minnesota B.C.A. Tuesday announced that Minnesota law enforcement and the trucking industry are joining together to combat human trafficking. The B.C.A. hosted a meeting of trucking industry representatives, law enforcement and human trafficking experts. It also includes several days of training on how to spot sex trafficking and how to respond when it is suspected. More than 90 people, including trucking industry and truck stop leadership, trucking companies and law enforcement, are attending the meeting and training. They're then asked to spread the word to educate their own staff to maximize efforts to rescue victims and bring criminals to justice. It is an issue that all of us must step up to stop, whether it's the sale or purchase of a person for sex or by doing something about it when you encounter the trafficker or their victim. We applaud the Minnesota trucking community for stepping up to do this. This partnership that we're forming with them today is going to be critical to our efforts across Minnesota for the group of law enforcement that you see here today that's working day in, day out to eradicate this problem. At any given time, there are more truck drivers out on the roads and there are law enforcement officers. They are trained to be vigilant and along with truck stop employees, bus terminal employees and bus drivers. They are critical in this fight. Trained, equipped and empowered to recognize the signs of human trafficking and then immediately and effectively reported to law enforcement, they will continue to save lives. The team that we save from his or hers plight is someone's son or daughter. Getting truckers against trafficking training is like learning CPR or first aid. It's a necessary tool. Thank you for bringing the truckers and law enforcement together to put the heinous keepers of human trafficking victims behind bars. Truckers against trafficking officials say over 500,000 members of the trucking industry have been trained through the program. If you enjoyed this segment of Lakeland News, please consider making a tax-deductible contribution to Lakeland PBS.


Rare earth elements are essential components of many renewable energy technologies including wind turbines, batteries, catalysts, and electric vehicles. However, their availability is limited due to quotas imposed by the Chinese government on exports and crackdowns on illegal mining operations. This has caused the shortage and subsequent price increase, which has since decreased but remains unstable. There are only a few active mines around the world, most notably Bayan-Obeo in China, Mountain Pass in the United States, and recently Open Mount Weld in Australia. These mines produce the majority of the world's supply of rare earth elements, but they also contribute heavily to global warming emissions through hydrochloric acid production, steam usage, and electricity consumption. This article was authored by NASADHAC, Anthony Hughes, Seng Lim, and others.